Available for Sale Securities (Tables)

12 Months Ended

Jun. 30, 2023

Available for Sale Securities

Schedule of Available for Sale Securities

	June 30, 2023
			Gross		Gross		Allowance		Estimated
	Amortized		Unrealized		Unrealized		for		Fair
(dollars in thousands)	Cost		Gains		Losses		Credit Losses		Value
Debt and equity securities:
Obligations of states and political subdivisions	$	45,285	$	20	$	(2,737)	$	—	$	42,568
Corporate obligations		35,700		19		(3,181)		—		32,538
Asset backed securities		67,897		1,274		(545)		—		68,626
Other securities		3,587		39		(56)		—		3,570
Total debt and equity securities		152,469		1,352		(6,519)		—		147,302
Mortgage-backed securities (MBS) and collateralized mortgage obligations (CMOs):
Residential MBS issued by governmental sponsored enterprises (GSEs)		97,612		122		(7,610)		—		90,124
Commercial MBS issued by GSEs		60,333		11		(6,959)		—		53,385
CMOs issued by GSEs		135,202		9		(8,468)		—		126,743
Total MBS and CMOs		293,147		142		(23,037)		—		270,252
Total AFS securities	$	445,616	$	1,494	$	(29,556)	$	—	$	417,554

	June 30, 2022
			Gross		Gross		Allowance		Estimated
	Amortized		Unrealized		Unrealized		for		Fair
(dollars in thousands)	Cost		Gains		Losses		Credit Losses		Value
Debt and equity securities:
Obligations of states and political subdivisions	$	47,383	$	77	$	(2,981)	$	—	$	44,479
Corporate obligations		20,818		32		(963)		—		19,887
Other securities		486		—		(43)		—		443
Total debt and equity securities		68,687		109		(3,987)		—		64,809
Mortgage-backed securities (MBS) and collateralized mortgage obligations (CMOs):
Residential MBS issued by governmental sponsored enterprises (GSEs)		76,345		—		(7,177)		—		69,168
Commercial MBS issued by GSEs		51,435		—		(5,705)		—		45,730
CMOs issued by GSEs		61,293		—		(5,606)		—		55,687
Total MBS and CMOs		189,073		—		(18,488)		—		170,585
Total AFS securities	$	257,760	$	109	$	(22,475)	$	—	$	235,394

Schedule of amortized cost and fair value of available-for-sale securities, by contractual maturity

	June 30, 2023
	Amortized		Estimated
(dollars in thousands)	Cost		Fair Value
Within one year	$	3,233	$	3,221
After one year but less than five years		24,395		23,380
After five years but less than ten years		59,286		56,089
After ten years		65,555		64,612
Total investment securities		152,469		147,302
MBS and CMOs		293,147		270,252
Total AFS securities	$	445,616	$	417,554

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value

	Less than 12 months				12 months or more				Total
			Unrealized				Unrealized				Unrealized
(dollars in thousands)	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
For the year ended June 30, 2023
Obligations of state and political subdivisions	$	11,574	$	184	$	26,763	$	2,553	$	38,337	$	2,737
Corporate obligations		14,709		1,074		13,821		2,107		28,530		3,181
Asset backed securities		22,628		263		698		282		23,326		545
Other securities		1,970		11		350		45		2,320		56
MBS and CMOs		87,354		1,525		145,673		21,512		233,027		23,037
Total AFS securities	$	138,235	$	3,057	$	187,305	$	26,499	$	325,540	$	29,556

	Less than 12 months				12 months or more				Total
			Unrealized				Unrealized				Unrealized
(dollars in thousands)	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
For the year ended June 30, 2022
Obligations of state and political subdivisions	$	31,985	$	2,639	$	1,600	$	342	$	33,585	$	2,981
Corporate obligations		10,944		420		6,911		543		17,855		963
Other securities		418		43		—		—		418		43
MBS and CMOs		137,590		12,482		29,834		6,006		167,424		18,488
Total AFS securities	$	180,937	$	15,584	$	38,345	$	6,891	$	219,282	$	22,475