| Summary of Investment Securities Available for Sale and Held to Maturity |
The following is a summary of investment securities at June 30, 2026 and March 31, 2026:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
|
|
|
|
Gross |
|
|
Gross |
|
|
|
|
|
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
Securities available-for-sale |
|
(Dollars in thousands) |
|
FHLMC bonds |
|
$ |
23,478 |
|
|
$ |
137 |
|
|
$ |
(1,376 |
) |
|
$ |
22,239 |
|
GNMA bonds |
|
|
6,707 |
|
|
|
32 |
|
|
|
(54 |
) |
|
|
6,685 |
|
FNMA bonds |
|
|
28,284 |
|
|
|
209 |
|
|
|
(1,512 |
) |
|
|
26,981 |
|
Municipal bonds |
|
|
8,624 |
|
|
|
— |
|
|
|
(1,064 |
) |
|
|
7,560 |
|
Total securities available-for-sale |
|
$ |
67,093 |
|
|
$ |
378 |
|
|
$ |
(4,006 |
) |
|
$ |
63,465 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Securities held-to-maturity |
|
|
|
|
|
|
|
|
|
|
|
|
FHLMC bonds |
|
$ |
51 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
52 |
|
GNMA bonds |
|
|
29 |
|
|
|
1 |
|
|
|
— |
|
|
|
30 |
|
FNMA bonds |
|
|
79 |
|
|
|
1 |
|
|
|
— |
|
|
|
80 |
|
Total securities held-to-maturity |
|
$ |
159 |
|
|
$ |
3 |
|
|
$ |
— |
|
|
$ |
162 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(dollars in thousands) |
|
March 31, 2026 |
|
|
|
|
|
|
Gross |
|
|
Gross |
|
|
|
|
|
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
Securities available-for-sale |
|
(Dollars in thousands) |
|
FHLMC bonds |
|
$ |
24,376 |
|
|
$ |
149 |
|
|
$ |
(1,311 |
) |
|
$ |
23,214 |
|
GNMA bonds |
|
|
6,948 |
|
|
|
44 |
|
|
|
(19 |
) |
|
|
6,973 |
|
FNMA bonds |
|
|
26,010 |
|
|
|
224 |
|
|
|
(1,407 |
) |
|
|
24,827 |
|
Municipal bonds |
|
|
8,623 |
|
|
|
— |
|
|
|
(1,103 |
) |
|
|
7,520 |
|
Total securities available-for-sale |
|
$ |
65,957 |
|
|
$ |
417 |
|
|
$ |
(3,840 |
) |
|
$ |
62,534 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Securities held-to-maturity |
|
|
|
|
|
|
|
|
|
|
|
|
FHLMC bonds |
|
$ |
54 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
55 |
|
GNMA bonds |
|
|
33 |
|
|
|
— |
|
|
|
— |
|
|
|
33 |
|
FNMA bonds |
|
|
88 |
|
|
|
2 |
|
|
|
— |
|
|
|
90 |
|
Total securities held-to-maturity |
|
$ |
175 |
|
|
$ |
3 |
|
|
$ |
— |
|
|
$ |
178 |
|
|
| Summary of Debt Securities Available for Sale and Unrealized Loss Position |
The fair value and gross unrealized losses on the Association’s available-for-sale investment securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2026 and March 31, 2026, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than 12 Months |
|
|
12 Months or Longer |
|
|
Total |
|
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
June 30, 2026 |
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
Securities available-for-sale |
|
(Dollars in thousands) |
|
FHLMC bonds |
|
$ |
4,518 |
|
|
$ |
(48 |
) |
|
$ |
10,516 |
|
|
$ |
(1,328 |
) |
|
$ |
15,034 |
|
|
$ |
(1,376 |
) |
GNMA bonds |
|
|
2,601 |
|
|
|
(54 |
) |
|
|
— |
|
|
|
— |
|
|
|
2,601 |
|
|
|
(54 |
) |
FNMA bonds |
|
|
6,902 |
|
|
|
(102 |
) |
|
|
9,645 |
|
|
|
(1,410 |
) |
|
|
16,547 |
|
|
|
(1,512 |
) |
Municipal bonds |
|
|
— |
|
|
|
— |
|
|
|
7,560 |
|
|
|
(1,064 |
) |
|
|
7,560 |
|
|
|
(1,064 |
) |
Total securities available-for-sale |
|
$ |
14,021 |
|
|
$ |
(204 |
) |
|
$ |
27,721 |
|
|
$ |
(3,802 |
) |
|
$ |
41,742 |
|
|
$ |
(4,006 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than 12 Months |
|
|
12 Months or Longer |
|
|
Total |
|
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
March 31, 2026 |
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
Securities available-for-sale |
|
(Dollars in thousands) |
|
FHLMC bonds |
|
$ |
4,088 |
|
|
$ |
(36 |
) |
|
$ |
10,998 |
|
|
$ |
(1,275 |
) |
|
$ |
15,086 |
|
|
$ |
(1,311 |
) |
GNMA bonds |
|
|
2,647 |
|
|
|
(19 |
) |
|
|
— |
|
|
|
— |
|
|
|
2,647 |
|
|
|
(19 |
) |
FNMA bonds |
|
|
2,824 |
|
|
|
(35 |
) |
|
|
10,815 |
|
|
|
(1,372 |
) |
|
|
13,639 |
|
|
|
(1,407 |
) |
Municipal bonds |
|
|
— |
|
|
|
— |
|
|
|
7,520 |
|
|
|
(1,103 |
) |
|
|
7,520 |
|
|
|
(1,103 |
) |
Total securities available-for-sale |
|
$ |
9,559 |
|
|
$ |
(90 |
) |
|
$ |
29,333 |
|
|
$ |
(3,750 |
) |
|
$ |
38,892 |
|
|
$ |
(3,840 |
) |
|
| Schedule of Amortized Cost and Fair Value of Available for sale Investment Securities by Contractual Maturity |
The amortized cost and fair values of available for sale investment securities as of June 30, 2026 by contractual maturity, are shown below:
|
|
|
|
|
|
|
|
|
|
|
Available for Sale |
|
|
|
Amortized Cost |
|
|
Fair Value |
|
Maturity |
|
(Dollars in thousands) |
|
Due less than one year |
|
$ |
2,009 |
|
|
$ |
1,978 |
|
Due after one year through five years |
|
|
1,436 |
|
|
|
1,361 |
|
Due after five years through ten years |
|
|
2,842 |
|
|
|
2,355 |
|
Due after ten years |
|
|
2,337 |
|
|
|
1,866 |
|
Mortgage-backed securities and collateralized mortgage obligations |
|
|
58,469 |
|
|
|
55,905 |
|
Total |
|
$ |
67,093 |
|
|
$ |
63,465 |
|
|