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Fair Value Measurements (Tables)
 3 Months Ended
Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]  
Fair Value, Assets Measured on Recurring Basis The following table presents, by valuation hierarchy, assets that are measured at fair value on a recurring basis as of June 30, 2021 and March 31, 2021, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates:
Fair Value Measurements at June 30, 2021, Using
$ in thousandsQuoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable Inputs
(Level 3)		Total Fair
Value
Mortgage servicing rights$— $— $151 $151 
Investment securities
Available-for-sale:
Mortgage-backed securities:
Government National Mortgage Association— 849 — 849 
Federal Home Loan Mortgage Corporation— 27,025 — 27,025 
Federal National Mortgage Association— 14,250 — 14,250 
U.S. Government Agency securities— 17,800 — 17,800 
Corporate bonds— 5,023 — 5,023 
Muni securities— 17,731 — 17,731 
Asset-backed securities— 3,361 — 3,361 
Total available-for-sale securities— 86,039 — 86,039 
Total assets$— $86,039 $151 $86,190 

Fair Value Measurements at March 31, 2021, Using
$ in thousandsQuoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total Fair
Value
Mortgage servicing rights$— $— $147 $147 
Investment securities
Available-for-sale:
Mortgage-backed securities:
Government National Mortgage Association— 1,026 — 1,026 
Federal Home Loan Mortgage Corporation— 27,785 — 27,785 
Federal National Mortgage Association— 14,610 — 14,610 
U.S. Government Agency securities— 18,631 — 18,631 
Corporate bonds— 4,481 — 4,481 
Muni securities— 16,610 — 16,610 
Asset-backed securities— 3,364 — 3,364 
Total available-for-sale securities— 86,507 — 86,507 
Total assets$— $86,507 $147 $86,654 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation The following table includes a rollforward of assets classified by the Company within Level 3 of the valuation hierarchy for the three months ended June 30, 2021 and 2020:
$ in thousandsBeginning balance,
April 1, 2021
Total Realized/Unrealized Gains/(Losses) Recorded in Income (1)
Issuances / (Settlements)Transfers to/(from) Level 3
Ending balance,
June 30, 2021
Change in Unrealized Gains/(Losses) Related to Instruments Held at June 30, 2021
Mortgage servicing rights147 4 — — 151 4 
$ in thousandsBeginning balance,
April 1, 2020
Total Realized/Unrealized Gains/(Losses) Recorded in Income (1)
Issuances / (Settlements)Transfers to/(from) Level 3
Ending balance,
June 30, 2020
Change in Unrealized Gains/(Losses) Related to Instruments Held at June 30, 2020
Mortgage servicing rights1457 ——152 7 
Fair Value, Assets Measured on Recurring Basis, Valuation Techniques For Level 3 assets measured at fair value on a recurring basis as of June 30, 2021 and March 31, 2021, the significant unobservable inputs used in the fair value measurements were as follows:
$ in thousands
Fair Value
June 30, 2021
Valuation TechniqueSignificant Unobservable InputsSignificant Unobservable Input Value
Mortgage servicing rights151 Discounted Cash Flow
Weighted Average Constant Prepayment Rate (1)
10.31 %
Option Adjusted Spread ("OAS") applied to Treasury curve1000 basis points
$ in thousands
Fair Value
March 31, 2021
Valuation TechniqueSignificant Unobservable InputsSignificant Unobservable Input Value
Mortgage servicing rights147 Discounted Cash Flow
Weighted Average Constant Prepayment Rate (1)
13.33 %
Option Adjusted Spread ("OAS" applied to Treasury curve1200 basis points
(1) Represents annualized loan repayment rate assumptions
Fair Value Measurements, Nonrecurring The following table presents assets and liabilities that were measured at fair value on a non-recurring basis as of June 30, 2021 and March 31, 2021, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates:
Fair Value Measurements at June 30, 2021 Using
Quoted Prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable InputsTotal Fair Value
$ in thousands(Level 1)(Level 2)(Level 3)
Impaired loans$— $— $5,315 $5,315 
Other real estate owned— — 60 $60 
Fair Value Measurements at March 31, 2021, Using
Quoted Prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable InputsTotal Fair Value
$ in thousands(Level 1)(Level 2)(Level 3)
Impaired loans$— $— $5,341 $5,341 
Other real estate owned— — 60 $60 
Fair Value, Assets Measured on Nonrecurring Basis, Valuation Techniques For Level 3 assets measured at fair value on a non-recurring basis as of June 30, 2021 and March 31, 2021, the significant unobservable inputs used in the fair value measurements were as follows:
$ in thousands
Fair Value
June 30, 2021
Valuation TechniqueSignificant Unobservable InputsSignificant Unobservable Input Value
Impaired loans$5,315 Appraisal of collateralAppraisal adjustments7.5% cost to sell
Other real estate owned60 Appraisal of collateralAppraisal adjustments7.5% cost to sell
$ in thousands
Fair Value March 31, 2021
Valuation TechniqueSignificant Unobservable InputsSignificant Unobservable Input Value
Impaired loans$5,341 Appraisal of collateralAppraisal adjustments7.5% cost to sell
Other real estate owned60 Appraisal of collateralAppraisal adjustments7.5% cost to sell