Investment Securities

12 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Investment Securities

Note 4. Investment Securities

Investment securities at June 30, 2022 consist of certificates of deposit and municipal bonds, and at June 30, 2021, consist of certificates of deposit, which are classified as available-for-sale debt securities and have been determined to be level 1 assets. The cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale debt securities by major security type at June 30, 2022 and June 30, 2021 are as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
2022
Certificates of deposit	$	3,639,000	$	—	$	—		$	3,639,000
Municipal bonds		72,225		—		(2,446	)		69,779
2022 Total investment securities	$	3,711,225	$	—	$	(2,446	)	$	3,708,779
2021
Certificates of deposit	$	3,092,000	$	—	$	—		$	3,092,000
Municipal bonds		—		—		—			—
2021 Total investment securities	$	3,092,000	$	—	$	—		$	3,092,000

22

Espey Mfg. & Electronics Corp.

Notes to Financial Statements

Note 4. Investment Securities, Continued

The portfolio is diversified and highly liquid and primarily consists of investment grade fixed income instruments. At June 30, 2022, the Company did not have any investments in individual securities that have been in a continuous loss position considered to be other than temporary.

As of June 30, 2022 and 2021, the remaining contractual maturities of available-for-sale debt securities were as follows:

	Years to Maturity
	Less than		One to
	One Year		Five Years		Total
2022
Available-for-sale	$	3,639,000	$	69,779	$	3,708,779
2021
Available-for-sale	$	3,092,000	$	—	$	3,092,000