Stock Based Compensation (Tables)
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6 Months Ended |
Sep. 30, 2026 |
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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 September 30, |
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2026 |
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2025 |
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(Dollars in thousands) |
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Shares allocated |
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49,578 |
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|
36,354 |
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Unallocated |
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|
280,887 |
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|
294,111 |
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Total ESOP shares |
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|
330,465 |
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|
330,465 |
|
Fair value of unearned shares as of September 30, 2026 and 2025, respectively |
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$ |
5,623 |
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$ |
4,794 |
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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 September 30, 2026 and 2025 |
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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 June 30, 2026 |
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318,924 |
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|
$ |
14.63 |
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8.5 |
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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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— |
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— |
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— |
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Options, outstanding at September 30, 2026 |
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|
318,924 |
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|
$ |
14.63 |
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|
8.3 |
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1,719 |
|
Exercisable - End of Period |
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|
63,785 |
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$ |
349 |
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Options, outstanding at June 30, 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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— |
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— |
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— |
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Options, outstanding at September 30, 2025 |
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|
323,924 |
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|
$ |
14.63 |
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9.5 |
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|
541 |
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Exercisable - End of Period |
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— |
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$ |
— |
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Stock Options - For the six months ended September 30, 2026 and 2025 |
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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, 2026 |
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319,924 |
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$ |
14.63 |
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8.8 |
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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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(1,000 |
) |
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14.79 |
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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 September 30, 2026 |
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|
318,924 |
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|
$ |
14.63 |
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|
8.3 |
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|
1,719 |
|
Exercisable - End of Period |
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|
63,785 |
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$ |
349 |
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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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— |
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— |
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— |
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|
Options, outstanding at September 30, 2025 |
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|
323,924 |
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|
$ |
14.63 |
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|
9.5 |
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|
541 |
|
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 September 30, 2026 and 2025 |
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Shares |
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Weighted Average Grant Date Fair Value |
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Nonvested balance as of June 30, 2026 |
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109,254 |
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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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— |
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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 September 30, 2026 |
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109,254 |
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$ |
14.64 |
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Nonvested balance as of June 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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|
— |
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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 September 30, 2025 |
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|
138,066 |
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$ |
14.64 |
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Restricted Stock - For the six months ended September 30, 2026 and 2025 |
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Shares |
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|
Weighted Average Grant Date Fair Value |
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Nonvested balance as of March 31, 2026 |
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|
111,054 |
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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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(1,800 |
) |
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|
14.61 |
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Forfeited |
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— |
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— |
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Nonvested balance as of September 30, 2026 |
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109,254 |
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$ |
14.64 |
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Nonvested balance as of March 31, 2025 |
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|
129,066 |
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|
$ |
14.64 |
|
Granted |
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|
9,000 |
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|
14.61 |
|
Vested |
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|
— |
|
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|
— |
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Forfeited |
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|
— |
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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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|
| 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 September 30, |
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For the Six Months Ended September 30, |
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|
2026 |
|
|
2025 |
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|
2026 |
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|
2025 |
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|
|
(Dollars in thousands) |
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|
(Dollars in thousands) |
|
Stock option expense |
|
$ |
90 |
|
|
$ |
91 |
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$ |
180 |
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$ |
179 |
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Restricted stock expense |
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|
101 |
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|
100 |
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|
|
200 |
|
|
|
197 |
|
Total stock-based compensation expense |
|
$ |
191 |
|
|
$ |
191 |
|
|
$ |
380 |
|
|
$ |
376 |
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