Employee Benefit and Stock Compensation Plans (Tables)

12 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Restricted Stock Activity

Information regarding nonvested shares of restricted stock awards outstanding for the years ended March 31 is as follows:

	2021			2020
	Shares	Weighted Average Grant Price		Shares	Weighted Average Grant Price
Outstanding, beginning of year	32,100	$	3.09	1,950	$	4.76
Granted	51,000	5.84		31,000	3.04
Vested	(10,350)	3.02		(850)	4.95
Forfeited	—	—		—	—
Outstanding, end of year	72,750	$	5.00	32,100	$	3.09

Stock Options, Activity

Information regarding stock options as of and for the years ended March 31 is as follows:

	2021			2020
	Options	Weighted Average Exercise Price		Options	Weighted Average Exercise Price
Outstanding, beginning of year	4,733	$	7.71	4,733	$	7.71
Granted	2,000	5.70		—	—
Exercised	—	—		—	—
Expired/Forfeited	133	97.50		—	—
Outstanding, end of year	6,600	$	5.42	4,733	$	7.71
Exercisable, at year end	4,350			3,633

Shares Authorized under Stock Option Plans, by Exercise Price Range

Information regarding stock options as of March 31, 2021 is as follows:

				Options Outstanding				Options Exercisable
Range of Exercise Prices				Shares	Weighted Average Remaining Life	Weighted Average Exercise Price		Shares	Weighted Average Exercise Price
$	3.00	$	5.00	1,000	6.70	$	3.48	750	$	3.48
5.00		$	5.59	3,600	4.23	5.56		3,600	5.56
5.60		$	5.99	2,000	9.33	5.70		—	5.70
Total				6,600				4,350

Stock Options, Valuation Assumptions

The fair value of the option grants was estimated on the date of the grant using the Black-Scholes option pricing model applying the following weighted average assumptions for the year ended March 31, 2021:

	2021
Fair value of options granted	$3.44
Risk-free interest rate	0.01	%
Volatility	10	%
Expected life of option grants (years)	9.25