INVESTMENT SECURITIES

12 Months Ended

Jun. 30, 2018

Investments, Debt and Equity Securities [Abstract]

INVESTMENT SECURITIES

3. INVESTMENT SECURITIES

The amortized cost, gross unrealized gains and losses, and fair values of investments are as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
2018
AVAILABLE FOR SALE
Corporate debt securities	$	104,316	$	204	$	(181	)	$	104,339
Foreign debt securities 1		22,878		11		(38	)		22,851
Obligations of states and political subdivisions		1,630		—		(9	)		1,621
Total	$	128,824	$	215	$	(228	)	$	128,811
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
2018
HELD TO MATURITY
U.S. government agency securities	$	625	$	—	$	(1	)	$	624
Corporate debt securities		1,061		13		—			1,074
Obligations of states and political subdivisions		4,495		—		(68	)		4,427
Total	$	6,181	$	13	$	(69	)	$	6,125
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
2017
AVAILABLE FOR SALE
Corporate debt securities	$	92,576	$	144	$	(84	)	$	92,636
Foreign debt securities 1		14,474		12		—			14,486
Obligations of states and political subdivisions		1,330		—		(3	)		1,327
Total	$	108,380	$	156	$	(87	)	$	108,449

¹ U.S. dollar-denominated investment-grade corporate bonds of large foreign corporate issuers.

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
2017
HELD TO MATURITY
U.S. government agency securities	$	625	$	6	$	—		$	631
Corporate debt securities		2,698		91		—			2,789
Obligations of states and political subdivisions		5,355		41		(1	)		5,395
Total	$	8,678	$	138	$	(1	)	$	8,815

In fiscal years 2018, 2017 and 2016, the Company recorded gross realized investment security gains of $2 thousand, $0 and $31 thousand, respectively, and there were no gross losses for any period. Proceeds from sales of investment securities during fiscal 2018, 2017, and 2016 were $1.3 million, $0, and $6.4 million, respectively.

The amortized cost and fair values of investment securities at June 30, 2018, by contractual maturity, are shown below. Expected maturities may differ from the contractual maturities because issuers may have the right to call securities prior to their final maturities.

	Due in			Due after			Due after
	one year			one through			five through			Due after
	or less			five years			ten years			ten years			Total
	(Dollars in Thousands)
AVAILABLE FOR SALE
Amortized cost	$	34,171		$	78,718		$	15,935		$	—		$	128,824
Fair value		34,149			78,727			15,935			—			128,811
Weighted average yield		2.31	%		3.01	%		3.23	%		—	%		2.85	%
HELD TO MATURITY
Amortized cost	$	1,561		$	2,975		$	1,645		$	—		$	6,181
Fair value		1,573			2,930			1,622			—			6,125
Weighted average yield		4.85	%		3.03	%		3.13	%		—	%		3.52	%

At June 30, 2018, investment securities with amortized costs of $4.1 million and fair values of $4.1 million, were pledged to secure borrowings with the Federal Home Loan Bank. At June 30, 2017, investment securities with amortized costs of $4.1 million and fair values of $4.2 million were pledged to secure borrowings with the Federal Home Loan Bank.