v3.25.2
Securities (Tables)
 12 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule Of Debt Securities Fair Value To Amortized Cost Basis

The amortized cost and fair value of securities, with gross unrealized gains and losses, follows:

 

 

June 30, 2025

 

(In thousands)

 

Amortized Cost

 

 

Allowance for Credit Losses

 

 

Net Carrying Amount

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Estimated Fair Value

 

Securities available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored enterprises:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities-residential

 

$

90

 

 

$

-

 

 

$

90

 

 

$

1

 

 

$

-

 

 

$

91

 

Total securities available for sale

 

$

90

 

 

$

-

 

 

$

90

 

 

$

1

 

 

$

-

 

 

$

91

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities held to maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored enterprises:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities-residential

 

$

50,224

 

 

$

-

 

 

$

50,224

 

 

$

179

 

 

$

(1,512

)

 

$

48,891

 

Mortgage-backed securities-commercial

 

 

4,872

 

 

 

-

 

 

 

4,872

 

 

 

6

 

 

 

(9

)

 

 

4,869

 

Collateralized mortgage obligations

 

 

4,167

 

 

 

-

 

 

 

4,167

 

 

 

-

 

 

 

(5

)

 

 

4,162

 

Municipal bonds

 

 

37,950

 

 

 

1

 

 

 

37,949

 

 

 

1

 

 

 

(5,435

)

 

 

32,515

 

Corporate bonds

 

 

48,743

 

 

 

203

 

 

 

48,540

 

 

 

29

 

 

 

(2,571

)

 

 

45,998

 

Total securities held to maturity

 

$

145,956

 

 

$

204

 

 

$

145,752

 

 

$

215

 

 

$

(9,532

)

 

$

136,435

 

 

 

 

June 30, 2024

 

(In thousands)

 

Amortized Cost

 

 

Allowance for Credit Losses

 

 

Net Carrying Amount

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Estimated Fair Value

 

Securities available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored enterprises:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities-residential

 

$

114

 

 

$

-

 

 

$

114

 

 

$

-

 

 

$

(1

)

 

$

113

 

Total securities available for sale

 

$

114

 

 

$

-

 

 

$

114

 

 

$

-

 

 

$

(1

)

 

$

113

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities held to maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored enterprises:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt obligations

 

$

998

 

 

$

-

 

 

$

998

 

 

$

-

 

 

$

(19

)

 

$

979

 

Mortgage-backed securities-residential

 

 

46,556

 

 

 

-

 

 

 

46,556

 

 

 

13

 

 

 

(2,763

)

 

 

43,806

 

Mortgage-backed securities-commercial

 

 

4,462

 

 

 

-

 

 

 

4,462

 

 

 

11

 

 

 

(3

)

 

 

4,470

 

Collateralized mortgage obligations

 

 

2,975

 

 

 

-

 

 

 

2,975

 

 

 

9

 

 

 

-

 

 

 

2,984

 

Municipal bonds

 

 

41,171

 

 

 

2

 

 

 

41,169

 

 

 

-

 

 

 

(6,347

)

 

 

34,822

 

Corporate bonds

 

 

50,981

 

 

 

147

 

 

 

50,834

 

 

 

3

 

 

 

(4,478

)

 

 

46,359

 

Total securities held to maturity

 

$

147,143

 

 

$

149

 

 

$

146,994

 

 

$

36

 

 

$

(13,610

)

 

$

133,420

 
Schedule Of Investments Classified by Contractual Maturity Date

The amortized cost and fair value of debt securities, by contractual maturity, at June 30, 2025 is shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

 

 

June 30, 2025

 

 

 

Due in One Year or Less

 

 

Due After One Year to Five Years

 

 

Due after Five Years to Ten Years

 

 

Due After 10 Years

 

 

Total

 

(In thousands)

 

Amortized Cost

 

 

Estimated Fair Value

 

 

Amortized Cost

 

 

Estimated Fair Value

 

 

Amortized Cost

 

 

Estimated Fair Value

 

 

Amortized Cost

 

 

Estimated Fair Value

 

 

Amortized Cost

 

 

Estimated Fair Value

 

Securities available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored enterprises:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities-residential

 

$

-

 

 

$

-

 

 

$

11

 

 

$

11

 

 

$

70

 

 

$

71

 

 

$

9

 

 

$

9

 

 

$

90

 

 

$

91

 

Total securities available for sale

 

$

-

 

 

$

-

 

 

$

11

 

 

$

11

 

 

$

70

 

$

71

 

$

9

 

$

9

 

$

90

 

 

$

91

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities held to maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored enterprises:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities-residential

 

$

19

 

 

$

19

 

 

$

3,059

 

 

$

2,996

 

 

$

12,497

 

 

$

11,929

 

 

$

34,649

 

 

$

33,947

 

 

$

50,224

 

 

$

48,891

 

Mortgage-backed securities-commercial

 

 

-

 

 

 

-

 

 

 

3,414

 

 

 

3,408

 

 

 

1,458

 

 

 

1,461

 

 

 

-

 

 

 

-

 

 

 

4,872

 

 

 

4,869

 

Collateralized mortgage obligations

 

 

-

 

 

 

-

 

 

 

974

 

 

 

974

 

 

 

3,193

 

 

 

3,188

 

 

 

-

 

 

 

-

 

 

 

4,167

 

 

 

4,162

 

Municipal bonds

 

 

404

 

 

 

405

 

 

 

8,169

 

 

 

8,123

 

 

 

14,630

 

 

 

12,587

 

 

 

14,747

 

 

 

11,400

 

 

 

37,950

 

 

 

32,515

 

Corporate bonds

 

 

2,500

 

 

 

2,474

 

 

 

39,512

 

 

 

37,650

 

 

 

5,052

 

 

 

4,564

 

 

 

1,679

 

 

 

1,310

 

 

 

48,743

 

 

 

45,998

 

Total securities held to maturity

 

$

2,923

 

 

$

2,898

 

 

$

55,128

 

 

$

53,151

 

 

$

36,830

 

 

$

33,729

 

 

$

51,075

 

 

$

46,657

 

 

$

145,956

 

 

$

136,435

 
Schedule of Debt Securities, Held-to-Maturity, Allowance For Credit Loss

The following tables summarize the activity in the allowance for credit losses for securities held to maturity by security type for the dates indicated:

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Municipal Bonds

 

 

Corporate Bonds

 

 

Total

 

Balance at June 30, 2024

 

$

2

 

 

$

147

 

 

$

149

 

Provision for credit losses

 

 

(1

)

 

 

56

 

 

 

55

 

Balance at June 30, 2025

 

$

1

 

 

$

203

 

 

$

204

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Municipal Bonds

 

 

Corporate Bonds

 

 

Total

 

Balance at June 30, 2023

 

$

-

 

 

$

-

 

 

$

-

 

Adoption of ASU 2016-13

 

 

2

 

 

 

274

 

 

 

276

 

Adjusted beginning balance

 

 

2

 

 

 

274

 

 

 

276

 

Reversal of credit losses

 

 

-

 

 

 

(127

)

 

 

(127

)

Balance at June 30, 2024

 

$

2

 

 

$

147

 

 

$

149

 

 
Schedule Of Debt Securities Held To Maturity Securities Unrealized Loss Position Fair Value

Information pertaining to securities with gross unrealized losses at June 30, 2025 and 2024 aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows:

 

June 30, 2025

 

 

Less Than Twelve Months

 

 

Over Twelve Months

 

(In thousands)

Number of Securities

 

 

Gross Unrealized Losses

 

 

Fair Value

 

 

Depreciation from Amortized Cost Basis (%)

 

 

Number of Securities

 

 

Gross Unrealized Losses

 

 

Fair Value

 

 

Depreciation from Amortized Cost Basis (%)

 

Securities available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities-residential

 

-

 

 

$

-

 

 

$

-

 

 

 

-

%

 

 

-

 

 

$

-

 

 

$

-

 

 

 

-

%

Total temporarily impaired securities available for sale

 

-

 

 

$

-

 

 

$

-

 

 

 

-

%

 

 

-

 

 

$

-

 

 

$

-

 

 

 

-

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities held to maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored enterprises:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities-residential

 

8

 

 

$

33

 

 

$

6,439

 

 

 

0.5

%

 

 

104

 

 

$

1,479

 

 

$

25,839

 

 

 

5.4

%

Mortgage-backed securities-commercial

 

2

 

 

 

4

 

 

 

1,595

 

 

 

0.3

%

 

 

1

 

 

 

5

 

 

 

826

 

 

 

0.6

%

Collateralized mortgage obligations

 

3

 

 

 

5

 

 

 

3,189

 

 

 

0.2

%

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

%

Municipal bonds

 

6

 

 

 

15

 

 

 

4,293

 

 

 

0.3

%

 

 

33

 

 

 

5,420

 

 

 

25,489

 

 

 

17.5

%

Corporate bonds

 

-

 

 

 

-

 

 

 

-

 

 

 

-

%

 

 

36

 

 

 

2,571

 

 

 

43,647

 

 

 

5.6

%

Total temporarily impaired securities held to maturity

 

19

 

 

$

57

 

 

$

15,516

 

 

 

0.4

%

 

 

174

 

 

$

9,475

 

 

$

95,801

 

 

 

9.0

%

 

 

June 30, 2024

 

 

Less Than Twelve Months

 

 

Over Twelve Months

 

(In thousands)

Number of Securities

 

 

Gross Unrealized Losses

 

 

Fair Value

 

 

Depreciation from Amortized Cost Basis (%)

 

 

Number of Securities

 

 

Gross Unrealized Losses

 

 

Fair Value

 

 

Depreciation from Amortized Cost Basis (%)

 

Securities available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities-residential

 

-

 

 

$

-

 

 

$

-

 

 

 

-

%

 

 

31

 

 

$

1

 

 

$

74

 

 

 

1.3

%

Total temporarily impaired securities available for sale

 

-

 

 

$

-

 

 

$

-

 

 

 

-

%

 

 

31

 

 

$

1

 

 

$

74

 

 

 

1.3

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities held to maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored enterprises:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities-residential

 

5

 

 

$

25

 

 

$

3,575

 

 

 

0.7

%

 

 

122

 

 

$

2,738

 

 

$

34,679

 

 

 

7.3

%

Mortgage-backed securities-commercial

 

2

 

 

 

3

 

 

 

1,885

 

 

 

0.1

%

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Debt obligations

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1

 

 

 

19

 

 

 

979

 

 

 

1.9

%

Municipal bonds

 

8

 

 

 

56

 

 

 

3,724

 

 

 

1.5

%

 

 

41

 

 

 

6,291

 

 

 

30,085

 

 

 

17.3

%

Corporate bonds

 

1

 

 

 

5

 

 

 

1,529

 

 

 

0.3

%

 

 

38

 

 

 

4,473

 

 

 

43,975

 

 

 

9.2

%

Total temporarily impaired securities held to maturity

 

16

 

 

$

89

 

 

$

10,713

 

 

 

0.8

%

 

 

202

 

 

$

13,521

 

 

$

109,718

 

 

 

11.0

%
Schedule of Securities Available For Sale And Securities The following tables provide the amortized cost of securities available for sale and securities held to maturity at the dates indicated:

 

 

 

June 30, 2025

 

(In thousands)

 

Aaa

 

 

Aa1

 

 

Aa2

 

 

Aa3

 

 

A1

 

 

A2

 

 

A3

 

 

Baa1

 

 

Baa2

 

 

Total

 

Securities available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored enterprises:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities-residential

 

$

90

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

90

 

Total securities available for sale

 

$

90

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

90

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities held to maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored enterprises:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities-residential

 

$

50,224

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

50,224

 

Mortgage-backed securities-commercial

 

 

4,872

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

4,872

 

Collateralized mortgage obligations

 

 

4,167

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

4,167

 

Municipal bonds

 

 

9,169

 

 

 

12,951

 

 

 

11,145

 

 

 

1,954

 

 

 

1,310

 

 

 

1,421

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

37,950

 

Corporate bonds

 

 

1,679

 

 

 

-

 

 

 

4,707

 

 

 

7,551

 

 

 

12,233

 

 

 

10,198

 

 

 

7,996

 

 

 

3,866

 

 

 

513

 

 

 

48,743

 

Total securities held to maturity

 

$

70,111

 

 

$

12,951

 

 

$

15,852

 

 

$

9,505

 

 

$

13,543

 

 

$

11,619

 

 

$

7,996

 

 

$

3,866

 

 

$

513

 

 

$

145,956

 

 

 

 

 

June 30, 2024

 

(In thousands)

 

Aaa

 

 

Aa1

 

 

Aa2

 

 

Aa3

 

 

A1

 

 

A2

 

 

A3

 

 

Baa2

 

 

Total

 

Securities available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored enterprises:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities-residential

 

$

114

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

114

 

Total securities available for sale

 

$

114

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

114

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities held to maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored enterprises:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt obligations

 

$

998

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

998

 

Mortgage-backed securities-residential

 

 

46,556

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

46,556

 

Mortgage-backed securities-commercial

 

 

4,462

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

4,462

 

Collateralized mortgage obligations

 

 

2,975

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

2,975

 

Municipal bonds

 

 

8,741

 

 

 

13,882

 

 

 

13,173

 

 

 

2,643

 

 

 

1,020

 

 

 

1,712

 

 

 

-

 

 

 

-

 

 

 

41,171

 

Corporate bonds

 

 

2,192

 

 

 

-

 

 

 

4,767

 

 

 

2,062

 

 

 

16,475

 

 

 

14,281

 

 

 

10,690

 

 

 

514

 

 

 

50,981

 

Total securities held to maturity

 

$

65,924

 

 

$

13,882

 

 

$

17,940

 

 

$

4,705

 

 

$

17,495

 

 

$

15,993

 

 

$

10,690

 

 

$

514

 

 

$

147,143