Income Taxes (Tables)

12 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

Summary Of Income Tax Expense

Income tax expense for the years ended March 31, 2026 and 2025, is summarized as follows:


		Year Ended March 31,
		2026				2025
Current		(Dollars in thousands)
Federal		$	711			$	484
State			168				130
Foreign			—				—
Deferred
Federal			112				255
State			—				—
Foreign			—				—
Total		$	991			$	869

Summary Of Provision For Income Taxes

The Association’s provision for income taxes for the years ended March 31, 2026 and 2025, differs from the amounts determined by applying the statutory federal income tax rate to income before income taxes as a result of the following:


		Year Ended March 31,
		2026								2025
		Amount				% of Pretax Income				Amount				% of Pretax Income
		(Dollars in thousands)
Expected income tax expense at statutory rates (21%)		$	1,048				21.0	%		$	950				21.0	%
Tax exempt interest			(20	)			(0.4	)			(21	)			(0.5	)
Investment partnership tax benefits, net of amortization			1				0.0				1				0.0
Other			(38	)			(0.8	)			(61	)			(1.3	)
Income tax expense		$	991				19.8	%		$	869				19.2	%

Summary Of The Deferred Tax Assets And The Deferred Tax Liabilities

The deferred tax assets and the deferred tax liabilities measured at the federal tax rate of 21% at March 31, 2026 and 2025 are as follows:


		Year Ended March 31,
		2026				2025
		(Dollars in thousands)
Deferred tax assets:
Allowance for credit losses		$	1,265			$	1,188
Employee benefits			312				456
Net operating loss acquired due to merger			302				337
Pre-1997 intangible asset			207				207
Fair value market adjustment for AFS securities			732				972
Other			215				127
Total deferred tax assets			3,033				3,287
Deferred tax liabilities:
Premises and equipment depreciation			590				405
FHLB stock dividends			55				49
Mortgage servicing rights			87				80
Prepaid expenses			73				50
Total deferred tax liabilities			805				584
Net deferred tax assets		$	2,228			$	2,703