Deposits (Tables)

12 Months Ended

Mar. 31, 2023

Deposits [Abstract]

Deposit Liabilities, Type

Deposit balances and weighted average interest rates as of March 31 are as follows:

	2023						2022
$ in thousands	Amount		Percent of Total Deposits		Weighted Average Rate		Amount		Percent of Total Deposits		Weighted Average Rate
Non-interest-bearing demand	$	109,401	18.22	%	—	%	$	107,472	17.11	%	—	%
Interest-bearing checking	49,473		8.24		0.39		57,985		9.23		0.06
Savings	109,210		18.19		0.60		112,305		17.88		0.11
Money market savings account	150,348		25.04		3.73		208,122		33.14		0.24
Certificates of deposit	178,694		29.76		5.03		139,255		22.17		0.88
Loan escrow deposits	3,303		0.55		0.45		2,978		0.47		0.36
Total	$	600,429	100.00	%	2.58	%	$	628,117	100.00	%	0.30	%

CD Maturities

Scheduled maturities of certificates of deposit for the year ended March 31, 2023 are as follows:

$ in thousands	Amount
Maturing years ending March 31:
2024	$	133,017
2025	32,768
2026	8,040
2027	1,726
2028	2,157
2029 and beyond	986
Total	$	178,694

The following table represents the amount of certificates of deposit of $250,000 or more at March 31, 2023 maturing during the periods indicated:

$ in thousands
Maturing:
April 1, 2023 to June 30, 2023	$	18,009
July 1, 2023 to September 30, 2023	11,236
October 1, 2023 to March 31, 2024	1,762
April 1, 2024 and beyond	4,758
Total	$	35,765

Interest expense on deposits

Interest expense on deposits is as follows for the years ended March 31:

$ in thousands	2023		2022
Interest-bearing checking	$	55	$	30
Savings and clubs	166		123
Money market savings	1,728		378
Certificates of deposit	1,756		1,349
Loan escrow deposits	3		10
Total interest expense	$	3,708	$	1,890

Other Deposits liabilities

The following table presents additional information about our year-end deposits:

$ in thousands	2023		2022
Deposits from the Certificate of Deposit Account Registry Service (CDARS)	$	84,389	$	46,421
Deposits from brokers	17,638		17,788
Certificates of deposit individually greater than $250,000	25,765		36,919
Deposits from certain directors, executive officers and their affiliates	4,885		432