v3.26.1
Stock Based Compensation (Tables)
12 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Shares Held by the ESOP

Shares held by the ESOP were as follows:

 

 

 

As of March 31,

 

 

 

2026

 

 

2025

 

 

 

(Dollars in thousands)

 

Shares allocated

 

 

42,967

 

 

 

29,743

 

Unallocated

 

 

287,498

 

 

 

300,722

 

Total ESOP shares

 

 

330,465

 

 

 

330,465

 

Less: Average unallocated ESOP shares

 

 

 

 

 

 

Fair value of unearned shares at March 31, 2026 and 2025, respectively

 

$

4,919

 

 

$

4,487

 

Summary of Stock Option Activity

The following is a summary of the Company's stock option activity and related information for the periods presented.

 

Stock Option - for the years ended March 31, 2026 and 2025

 

Shares

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Term (in years)

 

 

Aggregate Intrinsic Value

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

Options, outstanding at March 31. 2025

 

 

308,924

 

 

$

14.63

 

 

 

9.7

 

 

 

 

  Granted

 

 

15,000

 

 

 

14.61

 

 

 

9.9

 

 

 

 

  Exercised

 

 

 

 

 

 

 

 

 

 

 

 

  Forfeited

 

 

(4,000

)

 

 

14.79

 

 

 

 

 

 

 

    Options, outstanding at March 31, 2026

 

 

319,924

 

 

$

14.63

 

 

 

8.8

 

 

$

793

 

  Exercisable - End of Period

 

 

61,785

 

 

 

 

 

 

 

 

$

153

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options, outstanding March 31, 2024

 

 

 

 

$

 

 

 

 

 

 

 

  Granted

 

 

308,924

 

 

 

14.63

 

 

 

9.7

 

 

 

 

  Exercised

 

 

 

 

 

 

 

 

 

 

 

 

  Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

    Options, outstanding March 31, 2025

 

 

308,924

 

 

$

14.63

 

 

 

9.7

 

 

$

88

 

  Exercisable - End of Period

 

 

 

 

 

 

 

 

 

 

$

 

Summary of Restricted Stock Activity

The following is a summary of the Company's restricted stock activity and related information for the periods presented.

 

Restricted Stock - for the years ended March 31, 2026 and 2025

 

Shares

 

 

Weighted Average Grant Date Fair Value

 

 

 

 

 

 

 

 

Nonvested balance as of March 31, 2025

 

 

129,066

 

 

$

14.64

 

  Granted

 

 

9,000

 

 

 

14.61

 

  Vested

 

 

(25,812

)

 

 

14.64

 

  Forfeited

 

 

(1,200

)

 

 

14.79

 

    Nonvested balance as of March 31, 2026

 

 

111,054

 

 

$

14.64

 

 

 

 

 

 

 

 

Nonvested balance as of March 31, 2024

 

 

 

 

$

 

  Granted

 

 

129,066

 

 

 

14.64

 

  Vested

 

 

 

 

 

 

  Forfeited

 

 

 

 

 

 

    Nonvested balance as of March 31, 2025

 

 

129,066

 

 

$

14.64

 

Summary of Stock Based Compensation Expense

The following table presents the stock based compensation expense for the periods presented.

 

 

 

Year Ended March 31,

 

 

 

2026

 

 

2025

 

 

 

(Dollars in thousands)

 

Stock option expense

 

$

360

 

 

$

93

 

Restricted stock expense

 

 

399

 

 

 

100

 

Total stock based compensation expense

 

$

759

 

 

$

193