Investment Securities (Tables)
|
12 Months Ended |
Mar. 31, 2025 |
|---|
| Investments, Debt and Equity Securities [Abstract] |
|
| Unrealized Gain (Loss) on Investments |
The following tables set forth the amortized cost and fair value of securities available-for-sale and held-to-maturity at March 31, 2025 and March 31, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | At March 31, 2025 | | Amortized | | Gross Unrealized | | | | $ in thousands | Cost | | Gains | | Losses | | Fair Value | | Available-for-Sale: | | | | | | | | | Mortgage-backed securities: | | | | | | | | | Government National Mortgage Association | $ | 204 | | | $ | 5 | | | $ | — | | | $ | 209 | | | Federal Home Loan Mortgage Corporation | 18,779 | | | — | | | (4,017) | | | 14,762 | | | Federal National Mortgage Association | 10,231 | | | — | | | (2,130) | | | 8,101 | | | | | | | | | | | Total mortgage-backed securities | 29,214 | | | 5 | | | (6,147) | | | 23,072 | | | U.S. Government Agency Securities | 4,326 | | | — | | | (16) | | | 4,310 | | | Corporate Bonds | 5,262 | | | — | | | (2,442) | | | 2,820 | | | Muni Securities | 17,673 | | | — | | | (3,353) | | | 14,320 | | | | | | | | | | | | | | | | | | | Total available-for-sale | $ | 56,475 | | | $ | 5 | | | $ | (11,958) | | | $ | 44,522 | | | | | | | | | | | Held-to-Maturity: | | | | | | | | | Mortgage-backed securities: | | | | | | | | | Government National Mortgage Association | $ | 249 | | | $ | — | | | $ | (9) | | | $ | 240 | | | Federal National Mortgage Association | 1,501 | | | — | | | (43) | | | 1,458 | | | | | | | | | | | | | | | | | | | Total held-to-maturity | $ | 1,750 | | | $ | — | | | $ | (52) | | | $ | 1,698 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | At March 31, 2024 | | Amortized | | Gross Unrealized | | | | $ in thousands | Cost | | Gains | | Losses | | Fair Value | | Available-for-Sale: | | | | | | | | | Mortgage-backed securities: | | | | | | | | | Government National Mortgage Association | $ | 280 | | | $ | 4 | | | $ | (1) | | | $ | 283 | | | Federal Home Loan Mortgage Corporation | 20,299 | | | — | | | (4,501) | | | 15,798 | | | Federal National Mortgage Association | 10,975 | | | — | | | (2,339) | | | 8,636 | | | | | | | | | | | Total mortgage-backed securities | 31,554 | | | 4 | | | (6,841) | | | 24,717 | | | U.S. Government Agency Securities | 6,219 | | | — | | | (25) | | | 6,194 | | | Corporate Bonds | 5,266 | | | — | | | (2,203) | | | 3,063 | | | Muni Securities | 17,696 | | | — | | | (3,640) | | | 14,056 | | | | | | | | | | | Total available-for-sale | $ | 60,735 | | | $ | 4 | | | $ | (12,709) | | | $ | 48,030 | | | | | | | | | | | Held-to-Maturity: | | | | | | | | | Mortgage-backed securities: | | | | | | | | | Government National Mortgage Association | $ | 292 | | | $ | — | | | $ | (9) | | | $ | 283 | | | Federal National Mortgage Association | 1,716 | | | — | | | (94) | | | 1,622 | | | | | | | | | | | | | | | | | | | Total held-to-maturity | $ | 2,008 | | | $ | — | | | $ | (103) | | | $ | 1,905 | | | | | | | | | |
|
| Schedule of Unrealized Loss on Investments |
The following tables set forth the unrealized losses and fair value of securities in an unrealized loss position at March 31, 2025 and March 31, 2024 for less than 12 months and 12 months or longer: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | At March 31, 2025 | | Less than 12 months | | 12 months or longer | | Total | | $ in thousands | Unrealized
Losses | | Fair
Value | | Unrealized
Losses | | Fair
Value | | Unrealized
Losses | | Fair
Value | | Available-for-Sale: | | | | | | | | | | | | | Mortgage-backed securities | $ | — | | | $ | — | | | $ | (6,147) | | | $ | 22,863 | | | $ | (6,147) | | | $ | 22,863 | | | U.S. Government Agency Securities | (11) | | | 3,467 | | | (5) | | | 843 | | | (16) | | | 4,310 | | | Corporate bonds | — | | | — | | | (2,442) | | | 2,820 | | | (2,442) | | | 2,820 | | | Muni securities | — | | | — | | | (3,353) | | | 14,320 | | | (3,353) | | | 14,320 | | | | | | | | | | | | | | | | | | | | | | | | | | | Total available-for-sale securities | $ | (11) | | | $ | 3,467 | | | $ | (11,947) | | | $ | 40,846 | | | $ | (11,958) | | | $ | 44,313 | | | Held-to-Maturity: | | | | | | | | | | | | | Mortgage-backed securities | $ | — | | | $ | — | | | $ | (52) | | | $ | 1,670 | | | $ | (52) | | | $ | 1,670 | | | | | | | | | | | | | | | Total held-to-maturity securities | $ | — | | | $ | — | | | $ | (52) | | | $ | 1,670 | | | $ | (52) | | | $ | 1,670 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | At March 31, 2024 | | Less than 12 months | | 12 months or longer | | Total | | $ in thousands | Unrealized
Losses | | Fair
Value | | Unrealized
Losses | | Fair
Value | | Unrealized
Losses | | Fair
Value | | Available-for-Sale: | | | | | | | | | | | | | Mortgage-backed securities | $ | — | | | $ | — | | | $ | (6,841) | | | $ | 24,468 | | | $ | (6,841) | | | $ | 24,468 | | | U.S. Government Agency Securities | (2) | | | 1,273 | | | (23) | | | 4,921 | | | (25) | | | 6,194 | | | Corporate bonds | — | | | — | | | (2,203) | | | 3,063 | | | (2,203) | | | 3,063 | | | Muni securities | — | | | — | | | (3,640) | | | 14,056 | | | (3,640) | | | 14,056 | | | | | | | | | | | | | | | | | | | | | | | | | | | Total available-for-sale securities | $ | (2) | | | $ | 1,273 | | | $ | (12,707) | | | $ | 46,508 | | | $ | (12,709) | | | $ | 47,781 | | | Held-to-Maturity: | | | | | | | | | | | | | Mortgage-backed securities | $ | — | | | $ | — | | | $ | (103) | | | $ | 1,872 | | | $ | (103) | | | $ | 1,872 | | | | | | | | | | | | | | | Total held-to-maturity securities | $ | — | | | $ | — | | | $ | (103) | | | $ | 1,872 | | | $ | (103) | | | $ | 1,872 | | | | | | | | | | | | | |
|
| Investments Classified by Contractual Maturity Date |
The following is a summary of the amortized cost and fair value of debt securities at March 31, 2025, by remaining period to contractual maturity (ignoring earlier call dates, if any). Actual maturities may differ from contractual maturities because certain security issuers have the right to call or prepay their obligations. The table below does not consider the effects of possible prepayments or unscheduled repayments. | | | | | | | | | | | | | | | | | | | $ in thousands | Amortized Cost | | Fair Value | | Weighted
Average Yield | | Available-for-Sale: | | | | | | | | | | | | | One through five years | 847 | | | 843 | | | 5.62 | % | | Five through ten years | 9,677 | | | 8,061 | | | 2.32 | % | | After ten years | 16,737 | | | 12,546 | | | 3.30 | % | | Mortgage-backed securities | 29,214 | | | 23,072 | | | 1.63 | % | | $ | 56,475 | | | $ | 44,522 | | | 2.30 | % | | Held-to-maturity: | | | | | | | | | | | | | | | | | | | | | | | | | Mortgage-backed securities | $ | 1,750 | | | $ | 1,698 | | | 2.86 | % | | | | | | |
|