Deposits

12 Months Ended

Mar. 31, 2021

Deposits [Abstract]

Deposits

DEPOSITS

Deposit balances and weighted average interest rates as of March 31 are as follows:

	2021						2020
$ in thousands	Amount		Percent of Total Deposits		Weighted Average Rate		Amount		Percent of Total Deposits		Weighted Average Rate
Non-interest-bearing demand	$	110,525	19.86	%	—	%	$	57,489	11.76	%	—	%
Interest-bearing checking	45,605		8.19		0.08		24,016		4.91		0.12
Savings	108,199		19.44		0.22		97,812		20.01		0.26
Money market savings account	137,230		24.66		0.42		112,634		23.04		0.53
Certificates of deposit	152,723		27.44		1.54		194,287		39.75		2.03
Loan escrow deposits	2,277		0.41		0.28		2,577		0.53		1.04
Total	$	556,559	100.00	%	0.58	%	$	488,815	100.00	%	0.91	%

Scheduled maturities of certificates of deposit for the year ended March 31, 2021 are as follows:

$ in thousands	Amount
Maturing years ending March 31:
2022	$	114,018
2023	21,543
2024	6,807
2025	5,852
2026	4,407
2027 and beyond	96
Total	$	152,723

The following table represents the amount of certificates of deposit of $100,000 or more at March 31, 2021 maturing during the periods indicated:

$ in thousands
Maturing:
April 1, 2021 to June 30, 2021	$	56,160
July 1, 2021 to September 30, 2021	12,831
October 1, 2021 to March 31, 2022	23,197
April 1, 2022 and beyond	27,656
Total	$	119,844

Interest expense on deposits is as follows for the years ended March 31:

$ in thousands	2021		2020
Interest-bearing checking	$	30	$	29
Savings and clubs	235		256
Money market savings	525		533
Certificates of deposit	2,974		3,799
Loan escrow deposits	6		23
Total interest expense	$	3,770	$	4,640

    The following table presents additional information about our year-end deposits:

$ in thousands	2021		2020
Deposits from the Certificate of Deposit Account Registry Service (CDARS)	$	43,209	$	40,171
Deposits from brokers	30,149		41,743
Certificates of deposit individually greater than $250,000	26,388		53,956
Deposits from certain directors, executive officers and their affiliates	216		64