7.SECURITIES HELD TO MATURITY

Securities held to maturity consisted of the following (in thousands):



	June 30, 2014	June 30, 2013

Government National Mortgage
Association ("GNMA") Securities	$ 12,549	$ 17,423

In March 2011, the Bank purchased GNMA securities at a cost of $35,525,000, including a premium of $525,000. The premium is amortized over the period from the date of purchase to the stated maturity date (15 years) of the GNMA securities using the interest method. These securities are classified as held to maturity and are accounted for at amortized cost. The weighted average yield on this investment is expected to be 2.4% and the weighted average maturity is expected to be 2.0 years.

The Bank recorded $77,000, $117,000 and $190,000 in amortization of the premiums during fiscal years 2014, 2013 and 2012, respectively. During fiscal years 2014, 2013 and 2012 the Bank received $5,239,000, $9,019,000 and $8,992,000 of principal and interest payments, respectively, recording $442,000, $654,000 and $910,000 in interest, respectively.

The amortized cost, estimated fair value and unrecognized holding gain of securities held to maturity at June 30, 2014, by contractual maturity date, are shown below (in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties.



	Securities Held to Maturity
	Amortized Cost	Fair Value	Unrecognized Holding Gain

Due after ten years	$ 12,549	$ 12,952	$ 403