Securities - (Tables)
|
12 Months Ended |
Jun. 30, 2017 |
|---|
| Investments, Debt and Equity Securities [Abstract] |
|
| Schedule of amortized costs and fair values of securities available-for-sale |
The amortized cost, gross unrealized gains and losses, and estimated fair value of securities classified as available-for-sale and held-to-maturity at June 30, 2017, are summarized as follows:
| | | | | | | | | | | | | | | | | | June 30, 2017 | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Estimated Fair Value | | (In thousands) | Available for Sale | | | | | | | | Investment Securities | | | | | | | | Municipal bonds | $ | 21,540 |
| | $ | 686 |
| | $ | (3 | ) | | $ | 22,223 |
| U.S. Treasury and government agency issued bonds (Agency bonds) | 5,050 |
| | — |
| | (124 | ) | | 4,926 |
| U.S. government agency issued asset-backed securities (ABS agency) | 7,883 |
| | — |
| | (235 | ) | | 7,648 |
| Corporate issued asset-backed securities (ABS corporate) | 9,921 |
| | — |
| | (108 | ) | | 9,813 |
| U.S. Small Business Administration securities (SBA) | 14,195 |
| | 36 |
| | (53 | ) | | 14,178 |
| | | | | | | | | Total | $ | 58,589 |
| | $ | 722 |
| | $ | (523 | ) | | $ | 58,788 |
| | | | | | | | | Mortgage-Backed Securities | | | | | | | | U.S. government agency issued mortgage-backed securities (MBS agency) | $ | 144,380 |
| | $ | 110 |
| | $ | (1,054 | ) | | $ | 143,436 |
| Corporate issued mortgage-backed securities (MBS corporate) | 26,324 |
| | 126 |
| | (81 | ) | | 26,369 |
| | | | | | | | | Total | $ | 170,704 |
| | $ | 236 |
| | $ | (1,135 | ) | | $ | 169,805 |
| | | | | | | | | Total securities available for sale | $ | 229,293 |
| | $ | 958 |
| | $ | (1,658 | ) | | $ | 228,593 |
| | | | | | | | | Held to Maturity | | | | | | | | Investment Securities | | | | | | | | Municipal bonds | $ | 14,120 |
| | $ | 306 |
| | $ | — |
| | $ | 14,426 |
| SBA | 443 |
| | — |
| | (1 | ) | | 442 |
| | | | | | | | | Total | $ | 14,563 |
| | $ | 306 |
| | $ | (1 | ) | | $ | 14,868 |
| | | | | | | | | Mortgage-Backed Securities | | | | | | | | MBS agency | $ | 37,309 |
| | $ | 566 |
| | $ | (122 | ) | | $ | 37,753 |
| | | | | | | | | Total securities held to maturity | $ | 51,872 |
| | $ | 872 |
| | $ | (123 | ) | | $ | 52,621 |
|
The amortized cost, gross unrealized gains and losses, and estimated fair value of securities classified as available-for-sale and held-to-maturity at June 30, 2016, are summarized as follows: | | | | | | | | | | | | | | | | | | June 30, 2016 | | Cost | | Gross
Unrealized Gains | | Gross
Unrealized Losses | | Estimated
Fair Value | | (In thousands) | Available for Sale | | | | | | | | Investment Securities | | | | | | | | Municipal bonds | $ | 21,609 |
| | $ | 1,570 |
| | $ | — |
| | $ | 23,179 |
| Agency bonds | 15,036 |
| | 15 |
| | (3 | ) | | 15,048 |
| ABS agency | 8,751 |
| | — |
| | (816 | ) | | 7,935 |
| ABS corporate | 29,690 |
| | 16 |
| | (325 | ) | | 29,381 |
| SBA | 9,335 |
| | 166 |
| | — |
| | 9,501 |
| | | | | | | | | Total | $ | 84,421 |
| | $ | 1,767 |
| | $ | (1,144 | ) | | $ | 85,044 |
| | | | | | | | | Mortgage-Backed Securities | | | | | | | | MBS agency | $ | 139,449 |
| | $ | 2,228 |
| | $ | (28 | ) | | $ | 141,649 |
| MBS corporate | 41,164 |
| | 100 |
| | (100 | ) | | 41,164 |
| | | | | | | | | Total | $ | 180,613 |
| | $ | 2,328 |
| | $ | (128 | ) | | $ | 182,813 |
| | | | | | | | | Total securities available for sale | $ | 265,034 |
| | $ | 4,095 |
| | $ | (1,272 | ) | | $ | 267,857 |
| | | | | | | | | Held to Maturity | | | | | | | | Investment Securities | | | | | | | | Municipal bonds | $ | 14,425 |
| | $ | 633 |
| | $ | — |
| | $ | 15,058 |
| SBA | 497 |
| | 1 |
| | — |
| | 498 |
| | | | | | | | | Total | $ | 14,922 |
| | $ | 634 |
| | $ | — |
| | $ | 15,556 |
| | | | | | | | | Mortgage-Backed Securities | | | | | | | | MBS agency | $ | 41,116 |
| | $ | 2,257 |
| | $ | (1 | ) | | $ | 43,372 |
| | | | | | | | | Total securities held to maturity | $ | 56,038 |
| | $ | 2,891 |
| | $ | (1 | ) | | $ | 58,928 |
|
|
| Schedule of available-for-sale securities in a continuous unrealized loss position |
The following table shows the unrealized gross losses and fair value of the investment portfolio by length of time that individual securities in each category have been in a continuous loss position as of June 30, 2017: | | | | | | | | | | | | | | | | | | | | | | | | | | Less Than Twelve Months | | Twelve Months or Longer | | Total | | Gross
Unrealized Losses | | Fair Value | | Gross
Unrealized Losses | | Fair Value | | Gross
Unrealized Losses | | Fair Value | | (In thousands) | Available for Sale | | | | | | | | | | | | Investment Securities | | | | | | | | | | | | Municipal bonds | $ | (3 | ) | | $ | 116 |
| | $ | — |
| | $ | — |
| | $ | (3 | ) | | $ | 116 |
| Agency and US treasury bonds | (52 | ) | | 2,498 |
| | (72 | ) | | 2,428 |
| | (124 | ) | | 4,926 |
| ABS Agency | — |
| | — |
| | (235 | ) | | 7,647 |
| | (235 | ) | | 7,647 |
| ABS corporate | — |
| | — |
| | (108 | ) | | 9,813 |
| | (108 | ) | | 9,813 |
| SBA | (53 | ) | | 8,405 |
| | — |
| | — |
| | (53 | ) | | 8,405 |
| | | | | | | | | | | | | Total | $ | (108 | ) | | $ | 11,019 |
| | $ | (415 | ) | | $ | 19,888 |
| | $ | (523 | ) | | $ | 30,907 |
| | | | | | | | | | | | | Mortgage-Backed Securities | | | | | | | | | | | | MBS agency | $ | (968 | ) | | $ | 102,738 |
| | $ | (86 | ) | | $ | 4,978 |
| | $ | (1,054 | ) | | $ | 107,716 |
| MBS corporate | (81 | ) | | 6,894 |
| | — |
| | — |
| | (81 | ) | | 6,894 |
| | | | | | | | | | | | | Total | $ | (1,049 | ) | | $ | 109,632 |
| | $ | (86 | ) | | $ | 4,978 |
| | $ | (1,135 | ) | | $ | 114,610 |
| | | | | | | | | | | | | Held to Maturity | | | | | | | | | | | | Investment Securities | | | | | | | | | | | | SBA | $ | (1 | ) | | $ | 261 |
| | $ | — |
| | $ | — |
| | $ | (1 | ) | | $ | 261 |
| | | | | | | | | | | | | Mortgage-Backed Securities | | | | | | | | | | | | MBS agency | $ | (121 | ) | | $ | 18,522 |
| | $ | (1 | ) | | $ | 597 |
| | $ | (122 | ) | | $ | 19,119 |
|
The following table shows the unrealized gross losses and fair value of the investment portfolio by length of time that individual securities in each category have been in a continuous loss position as of June 30, 2016: | | | | | | | | | | | | | | | | | | | | | | | | | | Less Than Twelve Months | | Twelve Months or Longer | | Total | | Gross
Unrealized Losses | | Fair Value | | Gross
Unrealized Losses | | Fair Value | | Gross
Unrealized Losses | | Fair Value | | (In thousands) | Available for Sale | | | | | | | | | | | | Investment Securities | | | | | | | | | | | | Agency bonds | $ | (3 | ) | | $ | 2,497 |
| | $ | — |
| | $ | — |
| | $ | (3 | ) | | $ | 2,497 |
| ABS Agency | — |
| | — |
| | (816 | ) | | 7,935 |
| | (816 | ) | | 7,935 |
| ABS Corporate | (325 | ) | | 21,521 |
| | — |
| | — |
| | (325 | ) | | 21,521 |
| Total | $ | (328 | ) | | $ | 24,018 |
| | $ | (816 | ) | | $ | 7,935 |
| | $ | (1,144 | ) | | $ | 31,953 |
| | | | | | | | | | | | | Mortgage-Backed Securities | | | | | | | | | | | | MBS agency | $ | — |
| | $ | — |
| | $ | (28 | ) | | $ | 6,771 |
| | $ | (28 | ) | | $ | 6,771 |
| MBS corporate | (100 | ) | | 26,120 |
| | — |
| | — |
| | (100 | ) | | 26,120 |
| Total | $ | (100 | ) | | $ | 26,120 |
| | $ | (28 | ) | | $ | 6,771 |
| | $ | (128 | ) | | $ | 32,891 |
| | | | | | | | | | | | | Held to Maturity | | | | | | | | | | | | Mortgage-Backed Securities | | | | | | | | | | | | MBS agency | $ | — |
| | $ | 652 |
| | $ | (1 | ) | | $ | 89 |
| | $ | (1 | ) | | $ | 741 |
|
|
| Schedule of held-to-maturity securities in a continuous unrealized loss position |
The following table shows the unrealized gross losses and fair value of the investment portfolio by length of time that individual securities in each category have been in a continuous loss position as of June 30, 2017: | | | | | | | | | | | | | | | | | | | | | | | | | | Less Than Twelve Months | | Twelve Months or Longer | | Total | | Gross
Unrealized Losses | | Fair Value | | Gross
Unrealized Losses | | Fair Value | | Gross
Unrealized Losses | | Fair Value | | (In thousands) | Available for Sale | | | | | | | | | | | | Investment Securities | | | | | | | | | | | | Municipal bonds | $ | (3 | ) | | $ | 116 |
| | $ | — |
| | $ | — |
| | $ | (3 | ) | | $ | 116 |
| Agency and US treasury bonds | (52 | ) | | 2,498 |
| | (72 | ) | | 2,428 |
| | (124 | ) | | 4,926 |
| ABS Agency | — |
| | — |
| | (235 | ) | | 7,647 |
| | (235 | ) | | 7,647 |
| ABS corporate | — |
| | — |
| | (108 | ) | | 9,813 |
| | (108 | ) | | 9,813 |
| SBA | (53 | ) | | 8,405 |
| | — |
| | — |
| | (53 | ) | | 8,405 |
| | | | | | | | | | | | | Total | $ | (108 | ) | | $ | 11,019 |
| | $ | (415 | ) | | $ | 19,888 |
| | $ | (523 | ) | | $ | 30,907 |
| | | | | | | | | | | | | Mortgage-Backed Securities | | | | | | | | | | | | MBS agency | $ | (968 | ) | | $ | 102,738 |
| | $ | (86 | ) | | $ | 4,978 |
| | $ | (1,054 | ) | | $ | 107,716 |
| MBS corporate | (81 | ) | | 6,894 |
| | — |
| | — |
| | (81 | ) | | 6,894 |
| | | | | | | | | | | | | Total | $ | (1,049 | ) | | $ | 109,632 |
| | $ | (86 | ) | | $ | 4,978 |
| | $ | (1,135 | ) | | $ | 114,610 |
| | | | | | | | | | | | | Held to Maturity | | | | | | | | | | | | Investment Securities | | | | | | | | | | | | SBA | $ | (1 | ) | | $ | 261 |
| | $ | — |
| | $ | — |
| | $ | (1 | ) | | $ | 261 |
| | | | | | | | | | | | | Mortgage-Backed Securities | | | | | | | | | | | | MBS agency | $ | (121 | ) | | $ | 18,522 |
| | $ | (1 | ) | | $ | 597 |
| | $ | (122 | ) | | $ | 19,119 |
|
The following table shows the unrealized gross losses and fair value of the investment portfolio by length of time that individual securities in each category have been in a continuous loss position as of June 30, 2016: | | | | | | | | | | | | | | | | | | | | | | | | | | Less Than Twelve Months | | Twelve Months or Longer | | Total | | Gross
Unrealized Losses | | Fair Value | | Gross
Unrealized Losses | | Fair Value | | Gross
Unrealized Losses | | Fair Value | | (In thousands) | Available for Sale | | | | | | | | | | | | Investment Securities | | | | | | | | | | | | Agency bonds | $ | (3 | ) | | $ | 2,497 |
| | $ | — |
| | $ | — |
| | $ | (3 | ) | | $ | 2,497 |
| ABS Agency | — |
| | — |
| | (816 | ) | | 7,935 |
| | (816 | ) | | 7,935 |
| ABS Corporate | (325 | ) | | 21,521 |
| | — |
| | — |
| | (325 | ) | | 21,521 |
| Total | $ | (328 | ) | | $ | 24,018 |
| | $ | (816 | ) | | $ | 7,935 |
| | $ | (1,144 | ) | | $ | 31,953 |
| | | | | | | | | | | | | Mortgage-Backed Securities | | | | | | | | | | | | MBS agency | $ | — |
| | $ | — |
| | $ | (28 | ) | | $ | 6,771 |
| | $ | (28 | ) | | $ | 6,771 |
| MBS corporate | (100 | ) | | 26,120 |
| | — |
| | — |
| | (100 | ) | | 26,120 |
| Total | $ | (100 | ) | | $ | 26,120 |
| | $ | (28 | ) | | $ | 6,771 |
| | $ | (128 | ) | | $ | 32,891 |
| | | | | | | | | | | | | Held to Maturity | | | | | | | | | | | | Mortgage-Backed Securities | | | | | | | | | | | | MBS agency | $ | — |
| | $ | 652 |
| | $ | (1 | ) | | $ | 89 |
| | $ | (1 | ) | | $ | 741 |
|
|
| Schedule of amortized cost and estimated fair value of investment securities by contractual maturity |
The amortized cost and estimated fair value of investment securities by contractual maturity are shown in the following tables at the dates indicated. Expected maturities of mortgage-backed securities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties; therefore, these securities are shown separately. | | | | | | | | | | | | | | | | | | June 30, 2017 | | Available for Sale | | Held to Maturity | | Amortized Cost | | Estimated Fair Value | | Amortized Cost | | Estimated Fair Value | | (In thousands) | Mortgage-backed securities: | | | | | | | | Due within one year | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| Due after one through five years | — |
| | — |
| | 2,518 |
| | 2,550 |
| Due after five through ten years | 19,009 |
| | 18,919 |
| | 3,260 |
| | 3,233 |
| Due after ten years | 151,695 |
| | 150,886 |
| | 31,531 |
| | 31,970 |
| | | | | | | | | Total mortgage-backed securities | 170,704 |
| | 169,805 |
| | 37,309 |
| | 37,753 |
| | | | | | | | | All other investment securities: | | | | | | | | Due within one year | — |
| | — |
| | — |
| | — |
| Due after one through five years | 6,890 |
| | 6,848 |
| | — |
| | — |
| Due after five through ten years | 22,042 |
| | 22,124 |
| | 9,637 |
| | 9,817 |
| Due after ten years | 29,657 |
| | 29,816 |
| | 4,926 |
| | 5,051 |
| | | | | | | | | Total all other investment securities | 58,589 |
| | 58,788 |
| | 14,563 |
| | 14,868 |
| | | | | | | | | Total investment securities | $ | 229,293 |
| | $ | 228,593 |
| | $ | 51,872 |
| | $ | 52,621 |
| | | | | | | | |
| | | | | | | | | | | | | | | | | | June 30, 2016 | | Available for Sale | | Held to Maturity | | Amortized Cost | | Estimated Fair Value | | Amortized Cost | | Estimated Fair Value | | (In thousands) | Mortgage-backed securities: | | | | | | | | Due within one year | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| Due after one through five years | — |
| | — |
| | 2,263 |
| | 2,324 |
| Due after five through ten years | 18,089 |
| | 18,668 |
| | 3,701 |
| | 3,768 |
| Due after ten years | 162,524 |
| | 164,145 |
| | 35,152 |
| | 37,280 |
| | | | | | | | | Total mortgage-backed securities | 180,613 |
| | 182,813 |
| | 41,116 |
| | 43,372 |
| | | | | | | | | All other investment securities: | | | | | | | | Due within one year | 7,000 |
| | 6,921 |
| | — |
| | — |
| Due after one through five years | 11,780 |
| | 11,950 |
| | — |
| | — |
| Due after five through ten years | 14,440 |
| | 14,668 |
| | 9,711 |
| | 10,094 |
| Due after ten years | 51,201 |
| | 51,505 |
| | 5,211 |
| | 5,462 |
| | | | | | | | | Total all other investment securities | 84,421 |
| | 85,044 |
| | 14,922 |
| | 15,556 |
| | | | | | | | | Total investment securities | $ | 265,034 |
| | $ | 267,857 |
| | $ | 56,038 |
| | $ | 58,928 |
| | | | | | | | |
|
| Summary of sale of available-for-sale securities |
Sales of available-for-sale securities were as follows: | | | | | | | | | | | | | | Years Ended June 30, | | 2017 | | 2016 | | 2015 | | (In thousands) | Proceeds | $ | — |
| | $ | 109,065 |
| | $ | — |
| Gross gains | — |
| | 1,727 |
| | — |
| Gross losses | — |
| | (160 | ) | | — |
|
|