Income Taxes (Tables)

12 Months Ended

Mar. 31, 2023

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:

	2023				2022
$ in thousands	Amount		Percent		Amount		Percent
Statutory Federal income tax expense (benefit)	$	(924)	21.0	%	$	(177)	21.0	%
State and local income tax, net of Federal tax benefit	—		—		—		—
Impact of income tax rate changes	—		—		—		—
Change in valuation allowance	953		(21.7)		174		(20.7)
Other	(29)		0.7		3		(0.3)
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	2023		2022
Deferred Tax Assets:
Allowance for loan losses	$	1,742	$	1,874
Compensation and benefits	39		39
Nonaccrual loan interest	63		89
Net operating loss carryforward	19,191		17,692
New markets tax credit	3,434		3,434
Unrealized loss on available-for-sale securities	2,565		1,399
Lease liability	4,452		4,811
Other	33		41
Total Deferred Tax Assets	31,519		29,379
Deferred Tax Liabilities:
Depreciation	671		815
ROU asset	4,169		4,561
Other	52		94
Total Deferred Tax Liabilities	4,892		5,470
Deferred Tax Assets, net	26,627		23,909
Valuation Allowance	(26,627)		(23,909)
Deferred Tax Assets, net of valuation allowance	$	—	$	—