Income Taxes (Tables)

12 Months Ended

Mar. 31, 2015

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of income tax expense for the years ended March 31 are as follow:



$ in thousands	2015		2014			2013
Income tax expense (benefit):
Current - Federal	$	—	$	(35	)	$	149
Current - State	166		137			179
Total income tax expense (benefit)	$	166	$	102		$	328

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The following is a reconciliation of the expected Federal income tax rate to the consolidated effective tax rate for the years ended March 31:



	2015					2014					2013
$ in thousands	Amount			Percent		Amount			Percent		Amount			Percent
Statutory Federal income tax expense (benefit)	$	240		34.0	%	$	(250	)	34.0	%	$	337		34.0	%
State and local income tax, net of Federal tax benefit	41			5.8		(16		)	2.1		49			4.9
General business credit	(32		)	(4.6	)	(32		)	4.4		(32		)	(3.3	)
Difference in rates	(1,568		)	(222.4	)	(1,068		)	145.5		—			—
Valuation Allowance	741			105.0		(204		)	27.7		795			80.3
Write off DTA due to Section 382 limitation	—			—		1,132			(154.1	)	(1,363		)	(137.7	)
True-ups/Adjustments	743			103.6		255			(34.7	)	524			53.1
Other	1			2.2		285			(38.8	)	18			1.8
Total income tax expense	$	166		23.6	%	$	102		(13.9	)%	$	328		33.1	%

Deferred Tax Assets and Liabilities [Table Text Block]

Tax effects of existing temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are included in other assets at March 31 as follows:



$ in thousands	2015			2014
Deferred Tax Assets:
Allowance for loan losses	$	1,681		$	2,373
Deferred loan costs, net	(162		)	193
Nonaccrual loan interest	68			64
Purchase accounting adjustment	23			44
Net operating loss carryforward	17,394			15,181
New markets tax credit	2,207			2,175
Depreciation	977			782
Market value adjustment on HFS loans	464			752
Unrealized loss on available-for-sale securities	448			1,908
Other	947			577
Total Deferred Tax Assets	24,047			24,049
Deferred Tax Liabilities:
Income from affiliate	671			(46		)
Total Deferred Tax Liabilities	671			(46		)
Deferred Tax Assets, net	23,376			24,095
Valuation Allowance	(23,376		)	(24,095		)
Deferred Tax Assets, net of valuation allowance	$	—		$	—