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Loans Receivable and ALLL (Tables)
 9 Months Ended
Dec. 31, 2021
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable The following is a summary of loans receivable at December 31, 2021 and March 31, 2021:
December 31, 2021
March 31, 2021
$ in thousandsAmountPercentAmountPercent
Gross loans receivable:    
One-to-four family$71,356 13.0 %$76,313 15.9 %
Multifamily152,743 27.8 %103,584 21.6 %
Commercial real estate165,050 30.0 %150,114 31.2 %
Business (1)
159,214 28.9 %148,020 30.8 %
Consumer (2)
1,718 0.3 %2,439 0.5 %
Total loans receivable$550,081 100.0 %$480,470 100.0 %
Unamortized premiums, deferred costs and fees, net2,796 3,079 
Allowance for loan losses(5,488)(5,140)
Total loans receivable, net$547,389 $478,409 
(1) Includes PPP loans and business overdrafts
(2) Includes personal loans and consumer overdrafts
Allowance for Loan Losses The following is an analysis of the allowance for loan losses based upon the method of evaluating loan impairment for the three and nine month periods ended December 31, 2021 and 2020, and the fiscal year ended March 31, 2021.
Three months ended December 31, 2021
$ in thousandsOne-to-four
family		MultifamilyCommercial Real EstateBusinessConsumerUnallocatedTotal
Allowance for loan losses:
Beginning Balance1,015 914 1,002 2,106 137 341 $5,515 
Charge-offs— — — — (123)(129)(252)
Recoveries— — — 32 1 — 33 
Provision for (recovery of) Loan Losses(94)188 93 (30)116 (81)192 
Ending Balance$921 $1,102 $1,095 $2,108 $131 $131 $5,488 

Nine months ended December 31, 2021
$ in thousandsOne-to-four
family		MultifamilyCommercial Real EstateBusinessConsumer UnallocatedTotal
Allowance for loan losses:     
Beginning Balance$1,058 $880 $907 $1,855 $165 $275 $5,140 
Charge-offs— — — — (222)(1)(223)
Recoveries— — — 82 21 — 103 
Provision for (recovery of) Loan Losses(137)222 188 171 167 (143)468 
Ending Balance$921 $1,102 $1,095 $2,108 $131 $131 $5,488 
Allowance for Loan Losses Ending Balance: collectively evaluated for impairment$892 $1,102 $1,095 $2,025 $131 $131 $5,376 
Allowance for Loan Losses Ending Balance: individually evaluated for impairment29 — — 83 — — 112 
Loan Receivables Ending Balance:$72,375 $154,230 $166,050 $158,487 $1,735 $— $552,877 
Ending Balance: collectively evaluated for impairment67,165 153,714 165,865 151,153 1,735 — 539,632 
Ending Balance: individually evaluated for impairment5,210 516 185 7,334 — — 13,245 
At March 31, 2021
$ in thousandsOne-to-four familyMultifamilyCommercial Real EstateBusinessConsumerUnallocatedTotal
Allowance for Loan Losses Ending Balance: collectively evaluated for impairment$1,026 $880 $907 $1,729 $165 $275 $4,982 
Allowance for Loan Losses Ending Balance: individually evaluated for impairment32 — — 126 — — 158 
Loan Receivables Ending Balance:$78,213 $106,400 $148,809 $147,680 $2,447 $— $483,549 
Ending Balance: collectively evaluated for impairment74,387 106,031 147,891 139,925 2,447 — 470,681 
Ending Balance: individually evaluated for impairment3,826 369 918 7,755 — — 12,868 

Three months ended December 31, 2020
$ in thousandsOne-to-four familyMultifamilyCommercial Real EstateBusinessConsumerUnallocatedTotal
Allowance for loan losses:
Beginning Balance$953 $960 $969 $1,636 $189 $209 $4,916 
Charge-offs— — — (5)(52)— (57)
Recoveries1 — — 273 1 — 275 
Provision for (recovery of) Loan Losses(90)67 (3)(66)52 44 4 
Ending Balance$864 $1,027 $966 $1,838 $190 $253 $5,138 

Nine months ended December 31, 2020
$ in thousandsOne-to-four familyMultifamilyCommercial Real EstateBusinessConsumerUnallocatedTotal
Allowance for loan losses:
Beginning Balance$1,055 $1,011 $812 $1,567 $212 $289 $4,946 
Charge-offs— — — (24)(52)— (76)
Recoveries88 — — 275 4 — 367 
Provision for (recovery of) Loan Losses(279)16 154 20 26 (36)(99)
Ending Balance$864 $1,027 $966 $1,838 $190 $253 $5,138 
Schedule Nonaccrual Loans
The following is a summary of nonaccrual loans at December 31, 2021 and March 31, 2021.
$ in thousands
December 31, 2021
March 31, 2021
Gross loans receivable: 
One-to-four family$4,919 $3,524 
Multifamily516 369 
Commercial real estate185 918 
Business2,091 2,290 
Consumer57 90 
Total nonaccrual loans$7,768 $7,191 
Loans Receivable, Credit Quality Indicators At December 31, 2021, and based on the most recent analysis performed in the current quarter, the risk category by class of loans is as follows:
$ in thousandsMultifamilyCommercial
Real Estate		Business
Credit Risk Profile by Internally Assigned Grade:   
Pass$148,139 $156,636 $142,693 
Special Mention— 8,206 5,949 
Substandard6,091 1,208 9,845 
Total$154,230 $166,050 $158,487 
One-to-four familyConsumer
Credit Risk Profile Based on Payment Activity:
Performing$67,457 $1,678 
Non-Performing4,918 57 
Total$72,375 $1,735 
    At March 31, 2021, the risk category by class of loans was as follows:
$ in thousandsMultifamilyCommercial Real EstateBusiness
Credit Risk Profile by Internally Assigned Grade:
Pass$101,212 $142,168 $137,447 
Special Mention— 5,531 1,585 
Substandard 5,188 1,110 8,648 
Total$106,400 $148,809 $147,680 
One-to-four familyConsumer
Credit Risk Profile Based on Payment Activity:
Performing$74,689 $2,356 
Non-Performing3,524 91 
Total$78,213 $2,447 
Past Due Financing Receivables The following table presents an aging analysis of the recorded investment of past due loans receivables at December 31, 2021 and March 31, 2021.
.
December 31, 2021
$ in thousands30-59 Days
Past Due		60-89 Days
Past Due		90 or More Days Past DueTotal Past
Due		CurrentTotal Loans
Receivables
One-to-four family$467 $— $4,572 $5,039 $67,336 $72,375 
Multifamily3,410 — 516 3,926 150,304 154,230 
Commercial real estate1,729 1,608 — 3,337 162,713 166,050 
Business1,697 — 5,332 7,029 151,458 158,487 
Consumer50 22 57 129 1,606 1,735 
Total$7,353 $1,630 $10,477 $19,460 $533,417 $552,877 
March 31, 2021
$ in thousands30-59 Days
Past Due		60-89 Days
Past Due		90 or More Days Past DueTotal Past
Due		CurrentTotal Loans Receivables
One-to-four family$1,188 $— $2,950 $4,138 $74,075 $78,213 
Multifamily798 — — 798 105,602 106,400 
Commercial real estate5,263 — — 5,263 143,546 148,809 
Business671 400 271 1,342 146,338 147,680 
Consumer2 33 91 126 2,321 2,447 
Total$7,922 $433 $3,312 $11,667 $471,882 $483,549 
Impaired Loans The following table presents information on impaired loans with the associated allowance amount, if applicable, at December 31, 2021 and March 31, 2021.
At December 31, 2021
At March 31, 2021
$ in thousandsRecorded
Investment		Unpaid
Principal
Balance		Associated
Allowance		Recorded
Investment		Unpaid
Principal
Balance		Associated
Allowance
With no specific allowance recorded:
One-to-four family$5,137 $5,796 $— $3,750 $4,409 $— 
Multifamily516 516 — 369 369 — 
Commercial real estate185 185 — 918 918 — 
Business2,091 2,091 — 2,332 2,527 — 
With an allowance recorded:
One-to-four family73 73 29 76 72 32 
Business5,243 5,243 83 5,423 5,423 126 
Total$13,245 $13,904 $112 $12,868 $13,718 $158 
    The following tables presents information on average balances of impaired loans and the interest income recognized on a cash basis for the three and nine month periods ended December 31, 2021 and 2020.
For the Three Months Ended December 31,
For the Nine Months Ended December 31,
2021
2020
2021
2020
$ in thousandsAverage BalanceInterest Income RecognizedAverage BalanceInterest Income RecognizedAverage BalanceInterest Income RecognizedAverage BalanceInterest Income Recognized
With no specific allowance recorded:
One-to-four family$4,429 $13 $3,790 $10 $4,443 $19 $3,767 $50 
Multifamily699 9 373 4 442 9 371 13 
Commercial real estate188 7 580 — 551 7 1,160 — 
Business2,125 24 2,634 26 2,212 24 2,445 86 
With an allowance recorded:
One-to-four family73 — 442 — 74 1 77 — 
Business5,293 — 3,057 — 5,333 149 3,007 — 
Total$12,807 $53 $10,876 $40 $13,055 $209 $10,827 $149 
Troubled Debt Restructuring The following table presents an analysis of the loan modification that was classified as a TDR during the three and nine month periods ended December 31, 2020.
Loan Modifications during the three month period endedLoan Modifications during the nine month period ended
December 31, 2020December 31, 2020
$ in thousandsNumber of loansPre-Modification Recorded investmentPost-Modification Recorded investmentPre-Modification ratePost-Modification rateNumber of loansPre-Modification Recorded investmentPost-Modification Recorded investmentPre-Modification ratePost-Modification rate
Business1 4,949 4,949 6.68 5.50 1 4,949 4,949 6.68 5.50