Investment Securities (Tables)

12 Months Ended

Mar. 31, 2021

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, 2021 and March 31, 2020:

	At March 31, 2021
	Amortized		Gross Unrealized
$ in thousands	Cost		Gains		Losses		Fair Value
Available-for-Sale:
Mortgage-backed securities:
Government National Mortgage Association	$	987	$	39	$	—	$	1,026
Federal Home Loan Mortgage Corporation	28,458		88		761		27,785
Federal National Mortgage Association	15,120		—		510		14,610
Total mortgage-backed securities	44,565		127		1,271		43,421
U.S. Government Agency Securities	18,744		—		113		18,631
Corporate Bonds	5,274		—		793		4,481
Muni Securities	17,763		—		1,153		16,610
Asset-backed Securities	3,336		28		—		3,364
Total available-for-sale	$	89,682	$	155	$	3,330	$	86,507
Held-to-Maturity:
Mortgage-backed securities:
Government National Mortgage Association	$	683	$	69	$	—	$	752
Federal National Mortgage Association	7,124		264		—		7,388
Total held-to-maturity	$	7,807	$	333	$	—	$	8,140

	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 and Other	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

Schedule of Realized Gain (Loss)

$ in thousands	March 31, 2021
Proceeds	$	37,802
Gross gains	1,193

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, 2021 and March 31, 2020 for less than 12 months and 12 months or longer:

	At March 31, 2021
	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	$	1,271	$	39,020	$	—	$	—	$	1,271	$	39,020
U.S. Government Agency Securities	—		—		113		18,631		113		18,631
Corporate bonds	793		4,481		—		—		793		4,481
Muni securities	1,153		16,609		—		—		1,153		16,609
Total available-for-sale securities	$	3,217	$	60,110	$	113	$	18,631	$	3,330	$	78,741

	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

Investments Classified by Contractual Maturity Date

The following is a summary of the amortized cost and fair value of debt securities at March 31, 2021, 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:
One through five years	3,336		3,364		3.18	%
Five through ten years	5,655		5,612		1.37	%
After ten years	36,126		34,110		1.93	%
Mortgage-backed securities	44,565		43,421		1.47	%
	$	89,682	$	86,507	1.71	%
Held-to-maturity:
Mortgage-backed securities	$	7,807	$	8,140	2.37	%