Fair Value Of Financial Instruments (Tables)

12 Months Ended

Jun. 30, 2014

Fair Value Of Financial Instruments [Abstract]

Summary Of Fair Value Hierarchy

(in thousands)	Level 1	Level 2	Level 3		Total
June 30, 2014
ASSETS
Loans measured at fair value
Loans measured at fair value	$            -	$             -	$	53,148	$          53,148
	$            -	$             -	$	53,148	$          53,148
Securities owned, at fair value
Corporate equity securities	$       680	$             -	$	475	$            1,155
Municipal obligations	-	48,224		4,023	52,247
U.S. government and government agency obligations	8,013	42,546		-	50,559
Corporate obligations	-	95,625		87	95,712
Other	982	34,970		-	35,952
	$    9,675	$ 221,365	$	4,585	$        235,625
Securities available for sale
Westwood common stock	$       133	$             -	$	-	$               133
U.S. government and government agency obligations	-	452,513		-	452,513
Municipal obligations	-	42,202		-	42,202
	$       133	$ 494,715	$	-	$        494,848
LIABILITIES
Securities sold, not yet purchased, at fair value
Municipal obligations	$            -	$            9	$	-	$                   9
U.S. government and government agency obligations	72,708	1,683		-	74,391
Corporate obligations	-	46,814		-	46,814
Other	-	141		-	141
	$  72,708	$   48,647	$	-	$        121,355
Interest Rate Swaps - Net
Interest Rate Swaps - Net	$            -	$     1,475	$	-	$            1,475
	$            -	$     1,475	$	-	$            1,475
Warrants
Warrants	$            -	$             -	$	27,796	$          27,796
	$            -	$             -	$	27,796	$          27,796
Net assets (liabilities)	$ (62,900)	$ 665,958	$	29,937	$        632,995

(in thousands)	Level 1	Level 2	Level 3		Total
June 30, 2013
ASSETS
Loans measured at fair value
Loans measured at fair value	$            -	$     13,757	$	-	$          13,757
	$            -	$     13,757	$	-	$          13,757
Securities owned, at fair value
Corporate equity securities	$       895	$               -	$	625	$            1,520
Municipal obligations	-	30,116		-	30,116
U.S. government and government agency obligations	3,300	38,229		-	41,529
Corporate obligations	-	127,779		120	127,899
Other	692	7,877		-	8,569
	$    4,887	$   204,001	$	745	$        209,633
Securities available for sale
Westwood common stock	$       146	$               -	$	-	$               146
U.S. government and government agency obligations	-	474,906		-	474,906
Municipal obligations	-	28,224		-	28,224
	$       146	$   503,130	$	-	$        503,276
Interest Rate Swaps
Interest Rate Swaps	$            -	$       1,934	$	-	$            1,934
	$            -	$       1,934	$	-	$            1,934
LIABILITIES
Securities sold, not yet purchased, at fair value
Municipal obligations	$            -	$            10	$	-	$                 10
U.S. government and government agency obligations	45,415	8,671		-	54,086
Corporate obligations	-	80,639		-	80,639
	$  45,415	$     89,320	$	-	$        134,735
Warrants
Warrants	$            -	$               -	$	24,197	$          24,197
	$            -	$               -	$	24,197	$          24,197
Net assets (liabilities)	$ (40,382)	$   633,502	$	(23,452)	$        569,668

Reconciliation Of Major Classes of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs

(in thousands)	Loans	Corporate Equity Securities	Municipal Obligations	Corporate Obligations	Warrants	Total
Ending balance at June 30, 2013	$              -	$                625	$                 -	$            120	$    (24,197)	$    (23,452)
Redemption/sale of security	-	(150)	-	-	-	(150)
Unrealized loss	-	-	-	(40)	-	(40)
Unrealized gain	664	-	-	7	-	671
Transfers from Level 2 to Level 3	35,333	-	4,023	-	-	39,356
Loan pay downs	(479)	-	-	-	-	(479)
Loan originations with the
execution of interest rate swaps	17,630	-	-	-	-	17,630
Decrease in warrants valuation
(unrealized gain)	-	-	-	-	5,204	5,204
Increase in warrants valuation
(unrealized loss)	-	-	-	-	(8,803)	(8,803)
Ending balance at June 30, 2014	$     53,148	$                475	$          4,023	$              87	$    (27,796)	$     29,937

Significant Unobservable Inputs

Asset/Liability	Fair  Value	Valuation Technique(s)	Unobservable Inputs	Range (Weighted-Average)
Loans measured at fair value
Loans measured at fair value	$     53,148	Discounted cash flow	Discount Rate	4.09%-5.08% (4.45%)
Securities owned, at fair value
Corporate equity securities- auction rate preferred	475	Analysis of comparable securities	N/A	N/A
Municipal Obligations	4,023	Discounted cash flow	N/A	N/A
Corporate obligations	87	Discounted cash flow	N/A	N/A
Warrants
Warrants	27,796	Binomial Model	Derived Volatility	25% - 32%(28%)

Financial And Non-Financial Instruments Measured At Fair Value On A Non-Recurring Basis

June 2014	Level 1	Level 2	Level 3	Total
Impaired loans (1)	$            -	$            -	$   13,713	$   13,713
REO	-	-	4,875	4,875
Impaired servicing assets	-	-	447	447
	$            -	$            -	$   19,035	$   19,035
June 2013
Impaired loans (1)	$            -	$            -	$   20,086	$   20,086
REO	-	-	10,165	10,165
	$            -	$            -	$   30,251	$   30,251

_____________

(1)   Includes certain impaired loans measured at fair value through the allocation of specific valuation allowances or principal charge-offs.

Recorded Amounts, Fair Value And Level Of Fair Value Hierarchy Of Financial Instruments

		June 30, 2014		June 30, 2013
	Level	Recorded Value	Fair Value	Recorded Value	Fair Value
Financial assets:
Cash and cash equivalents	1	$     99,620	$     99,620	$   111,046	$   111,046
Restricted cash and cash equivalents	1	-	-	30,047	30,047
Securities held to maturity:
GNMA securities	2	12,549	12,952	17,423	17,965
Loans, net:
Purchase mortgage loans held for investment	3	133,854	133,618	174,037	173,738
Other loans held for  investment	3	427,354	429,062	420,789	437,916
Servicing assets	3	447	447	412	414
Financial liabilities:
Short-Term Borrowings	1	59,000	59,000	131,500	131,500
Deposits:
Deposits with no stated maturity	2	973,178	968,072	963,385	959,578
Time deposits	2	26,961	27,136	30,334	30,736
Advances from FHLB	2	77,130	78,891	97,565	100,408
Long-term debt	3	87,769	99,841	83,102	86,822