| Schedule of amortized cost and approximate fair value of investment securities |
The amortized cost and approximate fair value of investment securities consisted of the following at the dates indicated (in thousands): | | | | | | | | | | | | | | | | | | Gross | | Gross | | Estimated | | | Amortized | | Unrealized | | Unrealized | | Fair | | | Cost | | Gains | | Losses | | Value | June 30, 2026 | | | | | | | | | | | | | Available for sale: | | | | | | | | | | | | | Municipal securities | | $ | 37,092 | | $ | 10 | | $ | (6,886) | | $ | 30,216 | Agency securities | | | 5,976 | | | — | | | (756) | | | 5,220 | Real estate mortgage investment conduits (1) | | | 53,857 | | | 15 | | | (6,998) | | | 46,874 | Residential mortgage-backed securities (1) | | | 89,282 | | | 52 | | | (9,823) | | | 79,511 | Other mortgage-backed securities (2) | | | 15,254 | | | 2 | | | (1,187) | | | 14,069 |
Total available for sale | | $ | 201,461 | | $ | 79 | | $ | (25,650) | | $ | 175,890 |
| | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | Amortized | | Unrealized | | Unrealized | | Estimated | | | Cost | | Gains | | Losses | | Fair Value | March 31, 2026 | | | | | | | | | | | | | Available for sale: | | | | | | | | | | | | | Municipal securities | | $ | 37,106 | | $ | 10 | | $ | (7,008) | | $ | 30,108 | Agency securities | | | 5,975 | | | — | | | (723) | | | 5,252 | Real estate mortgage investment conduits (1) | | | 45,206 | | | — | | | (7,050) | | | 38,156 | Residential mortgage-backed securities (1) | | | 81,198 | | | 19 | | | (9,626) | | | 71,591 | Other mortgage-backed securities (2) | | | 10,798 | | | 3 | | | (1,140) | | | 9,661 | Total available for sale | | $ | 180,283 | | $ | 32 | | $ | (25,547) | | $ | 154,768 | | | | | | | | | | | | | |
| (1) | Comprised of Federal Home Loan Mortgage Corporation (“FHLMC”), Federal National Mortgage Association (“FNMA”) and Ginnie Mae (“GNMA”) issued securities. |
| (2) | Comprised of U.S. Small Business Administration (“SBA”) issued securities and commercial real estate (“CRE”) secured securities issued by FNMA and FHLMC. |
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| Schedule of contractual maturities of investment securities |
The contractual maturities of investment securities as of June 30, 2026 were as follows (in thousands): | | | | | | | | | | Available for Sale | | | | | | | Estimated | | | | Amortized | | Fair | | | | Cost | | Value | | Due in one year or less | | $ | 701 | | $ | 698 | | Due after one year through five years | | | 4,593 | | | 4,310 | | Due after five years through ten years | | | 28,538 | | | 24,280 | | Due after ten years | | | 167,629 | | | 146,602 | | Total | | $ | 201,461 | | $ | 175,890 | |
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| fair value of securities in an unrealized loss position, the amount of unrealized losses and the length of time these unrealized losses |
The fair value of securities in an unrealized loss position, the amount of unrealized losses and the length of time these unrealized losses existed were as follows at the dates indicated (in thousands): | | | | | | | | | | | | | | | | | | | | | Less than 12 months | | 12 months or longer | | Total | | | Estimated | | | | | Estimated | | | | | Estimated | | | | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | June 30, 2026 | | Value | | Losses | | Value | | Losses | | Value | | Losses | | | | | | | | | | | | | | | | | | | | Available for sale: | | | | | | | | | | | | | | | | | | | Municipal securities | | $ | 445 | | $ | (1) | | $ | 28,590 | | $ | (6,885) | | $ | 29,035 | | $ | (6,886) | Agency securities | | | — | | | — | | | 5,220 | | | (756) | | | 5,220 | | | (756) | Real estate mortgage investment conduits (1) | | | 9,766 | | | (24) | | | 32,191 | | | (6,974) | | | 41,957 | | | (6,998) | Residential mortgage-backed securities (1) | | | 19,756 | | | (116) | | | 49,027 | | | (9,707) | | | 68,783 | | | (9,823) | Other mortgage-backed securities (2) | | | 5,094 | | | (33) | | | 8,910 | | | (1,154) | | | 14,004 | | | (1,187) | Total available for sale | | $ | 35,061 | | $ | (174) | | $ | 123,938 | | $ | (25,476) | | $ | 158,999 | | $ | (25,650) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Available for sale: | | | | | | | | | | | | | | | | | | | Municipal securities | | $ | 444 | | $ | (2) | | $ | 28,484 | | $ | (7,006) | | $ | 28,928 | | $ | (7,008) | Agency securities | | | — | | | — | | | 5,252 | | | (723) | | | 5,252 | | | (723) | Real estate mortgage investment conduits (1) | | | 4,986 | | | (21) | | | 33,170 | | | (7,029) | | | 38,156 | | | (7,050) | Residential mortgage-backed securities (1) | | | 15,528 | | | (49) | | | 50,590 | | | (9,577) | | | 66,118 | | | (9,626) | Other mortgage-backed securities (2) | | | 72 | | | (3) | | | 9,386 | | | (1,137) | | | 9,458 | | | (1,140) | Total available for sale | | $ | 21,030 | | $ | (75) | | $ | 126,882 | | $ | (25,472) | | $ | 147,912 | | $ | (25,547) | | | | | | | | | | | | | | | | | | | |
| (1) | Comprised of FHLMC, FNMA and GNMA issued securities. |
| (2) | Comprised of SBA and CRE secured securities issued by FHLMC and FNMA. |
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