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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Mar. 31, 2010
Interest Income:      
Loans $ 25,930 $ 33,792 $ 37,333
Mortgage-backed securities 1,302 1,993 2,633
Investment securities 489 357 357
Money market investments 215 103 140
Total interest income 27,936 36,245 40,463
Interest expense:      
Deposits 4,023 5,529 6,916
Advances and other borrowed money 4,030 3,926 4,092
Total interest expense 8,053 9,455 11,008
Net interest income 19,883 26,790 29,455
Provision for loan losses 16,342 27,114 7,845
Net interest income after provision for loan losses 3,541 (324) 21,610
Non-interest income:      
Depository fees and charges 2,990 2,936 2,963
Loan fees and service charges 895 1,022 972
Gain on sale of securities, net 0 764 446
Gain on sales of loans, net 257 8 (212)
Loss on sale of real estate owned (216) (202) (14)
Gain on sale of building 0 0 1,187
New Market Tax Credit (“NMTC”) fees 625 1,940 984
Lower of cost or market adjustment on loans held for sale (1,870) (200) (2,136)
Other 973 1,062 883
Total non-interest income 3,654 7,330 5,073
Non-interest expense:      
Employee compensation and benefits 12,087 11,704 12,217
Net occupancy expense 3,692 3,855 4,618
Equipment, net 2,102 2,272 2,143
Consulting fees 475 1,312 803
Federal deposit insurance premiums 1,531 1,938 1,656
Other 11,047 9,677 9,133
Total non-interest expense 30,934 30,758 30,570
Loss before income taxes (23,739) (23,752) (3,887)
Income tax benefit (961) 15,718 (2,866)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest (22,778) (39,470) (1,021)
Non Controlling interest, net of taxes 629 57 0
Net loss $ (23,407) $ (39,527) $ (1,021)
Loss per common share $ (14.26) $ (242.25) $ (0.79)