Fair Value of Financial Instruments (Tables)

3 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

The carrying amounts and estimated fair values of the Bank’s financial instruments and estimation methodologies at June 30, 2023 and March 31, 2023 are as follows:

	June 30, 2023
$ in thousands	Carrying Amount		Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents	$	41,691	$	41,691	$	41,691	$	—	$	—
Securities available-for-sale	52,192		52,192		—		52,192		—
Securities held-to-maturity	2,237		2,107		—		2,107		—
Loans receivable	584,676		547,028		—		—		547,028
Accrued interest receivable	1,981		1,981		—		1,981		—
Mortgage servicing rights	147		147		—		—		147
Financial Liabilities:
Deposits	$	593,162	$	587,508	$	406,245	$	181,263	$	—
Advances from FHLB-NY	32,500		32,349		—		32,349		—
Other borrowed money	18,403		16,796		—		16,796		—
Accrued interest payable	718		718		—		718		—

	March 31, 2023
$ in thousands	Carrying Amount		Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents	$	42,552	$	42,552	$	42,552	$	—	$	—
Securities available-for-sale	53,843		53,843		—		53,843		—
Securities held-to-maturity	2,318		2,221		—		2,221		—
Loans receivable	592,667		567,029		—		—		567,029
Accrued interest receivable	1,911		1,911		—		1,911		—
Mortgage servicing rights	152		152		—		—		152
Financial Liabilities:
Deposits	$	600,429	$	594,736	$	418,432	$	176,304	$	—
Advances from FHLB-NY	35,000		35,238		—		35,238		—
Other borrowed money	15,903		14,575		—		14,575		—
Accrued interest payable	380		380		—		380		—