Investment Securities (Tables)

9 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Unrealized Gain (Loss) on Investments

The following tables set forth the amortized cost and fair value of securities available-for-sale and held-to-maturity at December 31, 2019 and March 31, 2019:

	At December 31, 2019
	Amortized		Gross Unrealized
$ in thousands	Cost		Gains		Losses		Fair Value
Available-for-Sale:
Mortgage-backed securities:
Government National Mortgage Association	$	3,717	$	23	$	21	$	3,719
Federal Home Loan Mortgage Corporation	9,824		116		14		9,926
Federal National Mortgage Association	24,265		287		235		24,317
Total mortgage-backed securities	37,806		426		270		37,962
U.S. Government Agency Securities	28,621		—		225		28,396
Corporate Bonds	4,037		50		2		4,085
Total available-for-sale	$	70,464	$	476	$	497	$	70,443
Held-to-Maturity:
Mortgage-backed securities:
Government National Mortgage Association	$	1,044	$	66	$	—	$	1,110
Federal National Mortgage Association and Other	8,403		90		6		8,487
Total held-to-maturity mortgage-backed securities	9,447		156		6		9,597
Corporate Bonds	1,000		7		—		1,007
Total held-to maturity	$	10,447	$	163	$	6	$	10,604

	At March 31, 2019
	Amortized		Gross Unrealized
$ in thousands	Cost		Gains		Losses		Fair Value
Available-for-Sale:
Mortgage-backed securities:
Government National Mortgage Association	$	4,443	$	25	$	86	$	4,382
Federal Home Loan Mortgage Corporation	11,104		69		148		11,025
Federal National Mortgage Association	27,094		131		617		26,608
Total mortgage-backed securities	42,641		225		851		42,015
U.S. Government Agency Securities	33,089		—		236		32,853
Corporate Bonds	5,054		—		77		4,977
Total available-for-sale	$	80,784	$	225	$	1,164	$	79,845
Held-to-Maturity:
Mortgage-backed securities:
Government National Mortgage Association	$	1,214	$	40	$	—	$	1,254
Federal National Mortgage Association and Other	8,923		—		87		8,836
Total held-to-maturity mortgage-backed securities	10,137		40		87		10,090
Corporate Bonds	1,000		17		—		1,017
Total held-to-maturity	$	11,137	$	57	$	87	$	11,107

Schedule of Unrealized Loss on Investments

The following tables set forth the unrealized losses and fair value of securities in an unrealized loss position at December 31, 2019 and March 31, 2019 for less than 12 months and 12 months or longer:

	At December 31, 2019
	Less than 12 months				12 months or longer				Total
$ in thousands	Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value
Available-for-Sale:
Mortgage-backed securities	$	29	$	3,424	$	241	$	14,598	$	270	$	18,022
U.S. Government Agency securities	94		10,660		131		17,736		225		28,396
Corporate Bonds	—		—		2		2,010		2		2,010
Total available-for-sale securities	$	123	$	14,084	$	374	$	34,344	$	497	$	48,428
Held-to-Maturity:
Mortgage-backed securities	$	—	$	—	$	6	$	1,216	$	6	$	1,216
Total held-to-maturity securities	$	—	$	—	$	6	$	1,216	$	6	$	1,216

	At March 31, 2019
	Less than 12 months				12 months or longer				Total
$ in thousands	Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value
Available-for-Sale:
Mortgage-backed securities	$	—	$	—	$	851	$	26,787	$	851	$	26,787
U.S. Government Agency securities	23		20,851		213		12,002		236		32,853
Corporate bonds	—		—		77		4,977		77		4,977
Total available-for-sale securities	$	23	$	20,851	$	1,141	$	43,766	$	1,164	$	64,617
Held-to-Maturity:
Mortgage-backed securities	$	—	$	—	$	87	$	8,752	$	87	$	8,752
Total held-to-maturity securities	$	—	$	—	$	87	$	8,752	$	87	$	8,752

Investments Classified by Contractual Maturity Date

The following is a summary of the amortized cost and fair value of debt securities at December 31, 2019, by remaining period to contractual maturity (ignoring earlier call dates, if any).  Actual maturities may differ from contractual maturities because certain security issuers have the right to call or prepay their obligations.  The table below does not consider the effects of possible prepayments or unscheduled repayments.

$ in thousands	Amortized Cost		Fair Value		Weighted Average Yield
Available-for-Sale:
Less than one year	$	3,006	$	3,004	1.61	%
One through five years	4,952		4,908		1.78	%
Five through ten years	14,454		14,438		2.40	%
After ten years	48,052		48,093		2.34	%
Total	$	70,464	$	70,443	2.29	%
Held-to-maturity:
One through five years	$	4,469	$	4,515	2.39	%
Five through ten years	4,003		4,067		3.33	%
After ten years	1,975		2,022		2.86	%
Total	$	10,447	$	10,604	2.84	%