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Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2015
Cash and cash equivalents:      
Cash and due from banks $ 58,428 $ 62,684 [1],[2]  
Money market investments 258 504 [1],[3]  
Total cash and cash equivalents 58,686 63,188 [1],[3],[4],[5] $ 50,824 [4],[5]
Restricted cash 283 225 [1],[3]  
Investment securities:      
Available-for-sale Securities 59,011 56,180 [1]  
Held-to-maturity [6] 13,435 15,311 [1],[4]  
Total investment securities 72,446 71,491 [1],[4]  
Loans held-for-sale (HFS) 944 2,436 [1],[7]  
Loans receivable:      
Real estate mortgage loans 471,444 517,633 [1],[2]  
Commercial business loans 65,114 70,953 [1]  
Consumer loans 8,994 42 [1]  
Loans, gross 545,552 588,628 [1],[2]  
Allowance for loan losses (5,060) (5,232) [1] (4,428)
Total loans receivable, net 540,492 583,396 [1],[8]  
Premises and equipment, net 5,427 5,983 [1]  
Federal Home Loan Bank of New York (“FHLB-NY”) stock, at cost 2,171 2,883 [1]  
Accrued interest receivable 1,583 2,420 [1]  
Other assets 5,829 7,032 [1]  
Total assets 687,861 739,054 [1]  
Deposits:      
Savings 100,913 95,230 [1]  
Non-interest bearing checking 61,576 56,634 [1]  
Interest-bearing checking 37,180 33,106 [1]  
Money market 140,807 163,380 [1]  
Certificates of deposit 236,342 255,854 [1]  
Escrow 2,358 2,537 [1]  
Total deposits 579,176 606,741 [1]  
Advances from the FHLB-NY and other borrowed money 49,403 68,403 [1]  
Other liabilities 11,884 12,030 [1],[2]  
Total liabilities 640,463 687,174 [1]  
EQUITY      
Preferred stock 45,118 45,118 [1],[4]  
Common stock 61 61 [1],[4]  
Additional paid-in capital 55,474 55,470 [1],[4]  
Accumulated deficit (50,898) (48,045) [2],[4]  
Treasury Stock, at cost (417) (417) [1],[4]  
Accumulated other comprehensive loss (1,940) (307) [1],[4]  
Total equity 47,398 51,880 [2],[4],[9] $ 52,907 [3]
Total liabilities and equity $ 687,861 $ 739,054 [2],[4]  
[1] (1) March 31, 2016 balances have been restated from previously reported results to correct for material and certain other errors from prior periods. Equity in net loss from subsidiaries was increased and total income was reduced by $1.5 million, interest expense on borrowings and total expense were increased by $66 thousand, and net loss and comprehensive loss were increased $1.6 million. Refer to Notes 1 and 19 for further detail.
[2] (1) March 31, 2016 balances have been restated from previously reported results to correct for material and certain other errors from prior periods. Refer to Notes 1 and 19 for further detail.
[3] (1) March 31, 2016 balances have been restated from previously reported results to correct for material and certain other errors from prior periods. Refer to Notes 1 and 19 for further detail.
[4] (1) March 31, 2015 and 2016 balances have been restated from previously reported results to correct for material and certain other errors from prior periods. Refer to Notes 1 and 19 for further detail.
[5] (1) March 31, 2016 balances have been restated from previously reported results to correct for material and certain other errors from prior periods. Net loss was increased by $1.6 million, equity in net loss of subsidiaries was increased by $1.5 million and increase in other liabilities was increased by $66 thousand. Refer to Notes 1 and 19 for further detail.
[6] * The carrying amount and amortized cost are the same for all held-to-maturity securities, as no OTTI has been recorded.
[7] (1) March 31, 2016 balances have been restated from previously reported results to correct for material and certain other errors from prior periods. Investment in subsidiaries, total assets and total liabilities and stockholders' equity were each reduced by $2.2 million, other liabilities and total liabilities increased by $157 thousand and stockholders' equity was reduced by $2.3 million. Refer to Notes 1 and 19 for further detail.
[8] (1) March 31, 2016 balances have been restated from previously reported results to correct for material and certain other errors from prior periods. Refer to Notes 1 and 19 for further detail.
[9] (1) March 31, 2016 balances have been restated from previously reported results to correct for material and certain other errors from prior periods. Refer to Notes 1 and 19 for further detail.