Stock Based Compensation (Tables)
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9 Months Ended |
Dec. 31, 2025 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Shares Held by the ESOP |
Shares held by the ESOP were as follows:
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As of December 31, |
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2025 |
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2024 |
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(Dollars in thousands) |
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Shares allocated |
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39,660 |
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|
26,436 |
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Unallocated |
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290,805 |
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304,029 |
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Total ESOP shares |
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330,465 |
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|
330,465 |
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Fair value of unearned shares as of December 31, 2025 and 2024, respectively |
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$ |
4,920 |
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$ |
4,548 |
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| Summary of Stock Option Activity |
The following is a summary of the Company's stock option activity and related information for the periods presented.
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Stock Options - for the three months ended December 31, 2025 and 2024 |
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Shares |
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Weighted Average Exercise Price |
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Weighted Average Remaining Contractual Term (in years) |
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Aggregate Intrinsic Value |
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(Dollars in thousands) |
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Options, outstanding at October 31, 2025 |
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323,924 |
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$ |
14.63 |
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9.5 |
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Granted |
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— |
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— |
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— |
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Exercised |
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— |
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— |
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— |
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Forfeited |
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(4,000 |
) |
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14.79 |
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— |
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Options, outstanding at December 31, 2025 |
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319,924 |
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$ |
14.63 |
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9.0 |
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|
733 |
|
Exercisable - End of Period |
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25,785 |
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$ |
59 |
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Options, outstanding at October 31, 2024 |
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— |
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$ |
— |
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— |
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Granted |
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123,924 |
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14.40 |
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10.0 |
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Exercised |
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— |
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— |
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— |
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Forfeited |
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— |
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— |
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— |
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Options, outstanding at December 31, 2024 |
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123,924 |
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$ |
14.40 |
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10.0 |
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69 |
|
Exercisable - End of Period |
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— |
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$ |
— |
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Stock Options - For the nine months ended December 31, 2025 and 2024 |
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Shares |
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Weighted Average Exercise Price |
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|
Weighted Average Remaining Contractual Term (in years) |
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Aggregate Intrinsic Value |
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(Dollars in thousands) |
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Options, outstanding at March 31, 2025 |
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308,924 |
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$ |
14.63 |
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9.7 |
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Granted |
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15,000 |
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14.61 |
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9.9 |
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Exercised |
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— |
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— |
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— |
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Forfeited |
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(4,000 |
) |
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14.79 |
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— |
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Options, outstanding at December 31, 2025 |
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|
319,924 |
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|
$ |
14.63 |
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9.0 |
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|
733 |
|
Exercisable - End of Period |
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25,785 |
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$ |
59 |
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Options, outstanding at March 31, 2024 |
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— |
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$ |
— |
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— |
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Granted |
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123,924 |
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14.40 |
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|
10.0 |
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Exercised |
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— |
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— |
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— |
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Forfeited |
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— |
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— |
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— |
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Options, outstanding at December 31, 2024 |
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123,924 |
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$ |
14.40 |
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|
10.0 |
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|
69 |
|
Exercisable - End of Period |
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— |
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$ |
— |
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| Summary of Restricted shares |
The following is a summary of the status of the Company's restricted shares as of and for the periods presented.
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Restricted Stock - for the three months ended December 31, 2025 and 2024 |
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Shares |
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Weighted Average Exercise Price |
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Nonvested balance as of September 30, 2025 |
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138,066 |
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$ |
14.64 |
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Granted |
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— |
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— |
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Vested |
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(10,212 |
) |
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14.41 |
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Forfeited |
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(1,200 |
) |
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|
14.79 |
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Nonvested balance as of December 31, 2025 |
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126,654 |
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$ |
14.66 |
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Nonvested balance as of September 30, 2024 |
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— |
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$ |
— |
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Granted |
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49,566 |
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14.40 |
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Vested |
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— |
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— |
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Forfeited |
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— |
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— |
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Nonvested balance as of December 31, 2024 |
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49,566 |
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$ |
14.40 |
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Restricted Stock - For the nine months ended December 31, 2025 and 2024 |
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Shares |
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Weighted Average Exercise Price |
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Nonvested balance as of March 31, 2025 |
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129,066 |
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$ |
14.64 |
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Granted |
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9,000 |
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|
14.61 |
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Vested |
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(10,212 |
) |
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14.41 |
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Forfeited |
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(1,200 |
) |
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|
14.79 |
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Nonvested balance as of December 31, 2025 |
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126,654 |
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$ |
14.66 |
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Nonvested balance as of March 31, 2024 |
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|
— |
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|
$ |
— |
|
Granted |
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|
49,566 |
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|
14.40 |
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Vested |
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|
— |
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|
— |
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Forfeited |
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|
— |
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|
— |
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Nonvested balance as of December 31, 2024 |
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|
49,566 |
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$ |
14.40 |
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| Summary of Stock Based Compensation Expense |
The following table presents the stock based compensation expense for the periods presented.
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For the Three Months Ended December 31, |
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For the Nine Months Ended December 31, |
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2025 |
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|
2024 |
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|
2025 |
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|
2024 |
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|
(Dollars in thousands) |
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|
(Dollars in thousands) |
|
Stock option expense |
|
$ |
92 |
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|
$ |
13 |
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$ |
271 |
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$ |
13 |
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Restricted stock expense |
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|
101 |
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|
13 |
|
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|
298 |
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|
13 |
|
Total stock based compensation expense |
|
$ |
193 |
|
|
$ |
26 |
|
|
$ |
569 |
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$ |
26 |
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