Investment Securities (Tables)

12 Months Ended

Mar. 31, 2020

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 March 31, 2020 and March 31, 2019:

	At March 31, 2020
	Amortized		Gross Unrealized
$ in thousands	Cost		Gains		Losses		Fair Value
Available-for-Sale:
Mortgage-backed securities:
Government National Mortgage Association	$	3,510	$	77	$	—	$	3,587
Federal Home Loan Mortgage Corporation	9,244		312		18		9,538
Federal National Mortgage Association	21,495		673		—		22,168
Total mortgage-backed securities	34,249		1,062		18		35,293
U.S. Government Agency Securities	26,616		20		155		26,481
Corporate Bonds	4,032		33		10		4,055
Total available-for-sale	$	64,897	$	1,115	$	183	$	65,829
Held-to-Maturity:
Mortgage-backed securities:
Government National Mortgage Association	$	972	$	76	$	—	$	1,048
Federal National Mortgage Association	8,179		342		—		8,521
Total held-to-maturity mortgage-backed securities	9,151		418		—		9,569
Corporate Bonds	1,000		—		5		995
Total held-to-maturity	$	10,151	$	418	$	5	$	10,564

	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 Realized Gain (Loss)

The following is a summary regarding proceeds, gross gains and gross losses realized from the sale of securities from the available-for-sale portfolio for the year ended March 31, 2019.

$ in thousands	2019
Proceeds	$	20,487
Gross gains	12
Gross losses	28

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 March 31, 2020 and March 31, 2019 for less than 12 months and 12 months or longer:

	At March 31, 2020
	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	$	—	$	—	$	18	$	619	$	18	$	619
U.S. Government Agency Securities	—		—		155		21,494		155		21,494
Corporate bonds	10		1,999		—		—		10		1,999
Total available-for-sale securities	$	10	$	1,999	$	173	$	22,113	$	183	$	24,112
Held-to-Maturity:
Corporate bonds	$	5	$	995	$	—	$	—	$	5	$	995
Total held-to-maturity securities	$	5	$	995	$	—	$	—	$	5	$	995

	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 March 31, 2020, 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	$	3,004	$	2,998	1.61	%
One through five years	4,632		4,670		2.24	%
Five through ten years	7,226		7,175		2.64	%
After ten years	15,786		15,693		2.41	%
Mortgage-backed securities	34,249		35,293		2.38	%
	$	64,897	$	65,829	2.37	%
Held-to-maturity:
One through five years	$	—	$	—	—	%
Five through ten years	1,000		995		5.75	%
After ten years	—		—		—	%
Mortgage-backed securities	9,151		9,569		2.49	%
	$	10,151	$	10,564	2.81	%