Fair Value, by Balance Sheet Grouping |
The carrying amounts and estimated fair values of the Bank’s financial instruments and estimation methodologies at June 30, 2025 and March 31, 2025 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | $ in thousands | | Carrying Amount | | Estimated Fair Value | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | Financial Assets: | | | | | | | | | | | Cash and cash equivalents | | $ | 43,835 | | | $ | 43,835 | | | $ | 43,835 | | | $ | — | | | $ | — | | | | | | | | | | | | | Securities available-for-sale | | 43,836 | | | 43,836 | | | — | | | 43,836 | | | — | | | | | | | | | | | | | | | | | | | | | | | | Securities held-to-maturity | | 1,704 | | | 1,662 | | | — | | | 1,662 | | | — | | Loans receivable | | 598,937 | | | 593,421 | | | — | | | — | | | 593,421 | | | | | | | | | | | | | Accrued interest receivable | | 3,251 | | | 3,251 | | | — | | | 3,251 | | | — | | Mortgage servicing rights | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | Financial Liabilities: | | | | | | | | | | | Deposits | | $ | 645,531 | | | $ | 643,799 | | | $ | 401,744 | | | $ | 242,055 | | | $ | — | | Advances from FHLB-NY | | 2,912 | | | 2,922 | | | — | | | 2,922 | | | — | | | | | | | | | | | | | Other borrowed money | | 18,403 | | | 17,969 | | | — | | | 17,969 | | | — | | Accrued interest payable | | 991 | | | 991 | | | — | | | 991 | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2025 | $ in thousands | | Carrying Amount | | Estimated Fair Value | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | Financial Assets: | | | | | | | | | | | Cash and cash equivalents | | $ | 50,315 | | | $ | 50,315 | | | $ | 50,315 | | | $ | — | | | $ | — | | | | | | | | | | | | | Securities available-for-sale | | 44,522 | | | 44,522 | | | — | | | 44,522 | | | — | | | | | | | | | | | | | | | | | | | | | | | | Securities held-to-maturity | | 1,750 | | | 1,698 | | | — | | | 1,698 | | | — | | Loans receivable | | 607,347 | | | 593,030 | | | — | | | — | | | 593,030 | | | | | | | | | | | | | Accrued interest receivable | | 2,980 | | | 2,980 | | | — | | | 2,980 | | | — | | Mortgage servicing rights | | 130 | | | 130 | | | — | | | — | | | 130 | | | | | | | | | | | | | Financial Liabilities: | | | | | | | | | | | Deposits | | $ | 661,837 | | | $ | 658,537 | | | $ | 406,948 | | | $ | 251,589 | | | $ | — | | Advances from FHLB-NY | | 1,814 | | | 1,817 | | | — | | | 1,817 | | | — | | Other borrowed money | | 18,403 | | | 17,900 | | | — | | | 17,900 | | | — | | Accrued interest payable | | 1,049 | | | 1,049 | | | — | | | 1,049 | | | — | |
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