v3.25.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
INTEREST AND DIVIDEND INCOME:      
Interest and fees on loans receivable $ 50,621 $ 46,031 $ 44,744
Interest on investment securities - taxable 6,918 8,971 8,784
Interest on investment securities - nontaxable 260 261 262
Other interest and dividends 1,163 1,292 1,876
Total interest and dividend income 58,962 56,555 55,666
INTEREST EXPENSE:      
Interest on deposits 15,313 8,285 1,502
Interest on borrowings 7,305 10,184 2,558
Total interest expense 22,618 18,469 4,060
Net interest income 36,344 38,086 51,606
Provision for credit losses 100   750
Net interest income after provision for credit losses 36,244 38,086 50,856
NON-INTEREST INCOME:      
Loss on sales of available for sale investment securities   (2,729)  
Income from BOLI 941 891 821
Other, net 1,146 483 277
Total non-interest income, net 14,256 10,242 12,194
NON-INTEREST EXPENSE:      
Salaries and employee benefits 26,099 24,204 23,982
Occupancy and depreciation 7,560 6,872 6,171
Data processing 2,948 2,782 2,722
Amortization of CDI 100 108 116
Advertising and marketing 1,278 1,276 923
FDIC insurance premium 688 708 534
State and local taxes 1,042 1,010 896
Telecommunications 215 211 204
Professional fees 1,800 1,375 1,201
Other 2,532 5,181 2,622
Total non-interest expense 44,262 43,727 39,371
INCOME BEFORE INCOME TAXES 6,238 4,601 23,679
PROVISION FOR INCOME TAXES 1,335 802 5,610
NET INCOME $ 4,903 $ 3,799 $ 18,069
Earnings per common share:      
Basic $ 0.23 $ 0.18 $ 0.84
Diluted $ 0.23 $ 0.18 $ 0.83
Weighted average number of common shares outstanding:      
Basic 21,063,467 21,137,976 21,637,526
Diluted 21,063,467 21,139,322 21,646,101
Fees and service charges      
NON-INTEREST INCOME:      
Non-interest income $ 6,002 $ 6,269 $ 6,362
Asset management fees      
NON-INTEREST INCOME:      
Non-interest income 5,906 $ 5,328 $ 4,734
BOLI death benefit in excess of cash surrender value      
NON-INTEREST INCOME:      
BOLI death benefit in excess of cash surrender value $ 261