Income Taxes (Tables)

12 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the expected Federal income tax rate to the consolidated effective tax rate for the years ended March 31:

	2022				2021
$ in thousands	Amount		Percent		Amount		Percent
Statutory Federal income tax expense (benefit)	$	(177)	21.0	%	$	(818)	21.0	%
State and local income tax, net of Federal tax benefit	—		—		(70)		12.0
Impact of income tax rate changes	—		—		(25)		0.6
Change in valuation allowance	174		(20.7)		917		(33.5)
Other	3		(0.3)		(4)		(0.1)
Total income tax expense (benefit)	$	—	—	%	$	—	—	%

Deferred Tax Assets and Liabilities

Tax effects of existing temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are included in other assets at March 31 as follows:

$ in thousands	2022		2021
Deferred Tax Assets:
Allowance for loan losses	$	1,874	$	1,723
Compensation and benefits	39		16
Nonaccrual loan interest	89		54
Net operating loss carryforward	17,692		18,890
New markets tax credit	3,434		3,434
Unrealized loss on available-for-sale securities	1,399		667
Other	291		248
Total Deferred Tax Assets	24,818		25,032
Deferred Tax Liabilities:
Depreciation	815		916
Other	94		370
Total Deferred Tax Liabilities	909		1,286
Deferred Tax Assets, net	23,909		23,746
Valuation Allowance	(23,909)		(23,746)
Deferred Tax Assets, net of valuation allowance	$	—	$	—