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Loans Receivable and ACL (Tables)
 6 Months Ended
Sep. 30, 2023
Loans and Leases Receivable Disclosure [Abstract]  
Loans Receivable and ACL The following is a summary of loans receivable at September 30, 2023 and March 31, 2023:
September 30, 2023
March 31, 2023
$ in thousandsAmountPercentAmountPercent
Loans receivable:    
One-to-four family$85,081 13.9 %$65,808 11.0 %
Multifamily179,039 29.3 %179,117 30.0 %
Commercial real estate171,112 28.0 %178,424 29.8 %
Construction491 0.1 %— — %
Business (1)
162,460 26.6 %166,908 27.9 %
Consumer (2)
12,919 2.1 %7,639 1.3 %
Total loans receivable$611,102 100.0 %$597,896 100.0 %
Allowance for credit losses(6,007)(5,229)
Total loans receivable, net$605,095 $592,667 
(1) Includes PPP loans and business overdrafts
(2) Includes personal loans and consumer overdrafts
Allowance for Credit Losses
The following is an analysis of the allowance for credit losses based upon the method of evaluating loan reserves for the three and six months ended September 30, 2023 under the expected loss methodology.
Three months ended September 30, 2023
$ in thousandsOne-to-four
family		MultifamilyCommercial Real EstateConstructionBusinessConsumerUnallocatedTotal
Allowance for credit losses:
Beginning Balance$2,063 $713 $1,264 $— $1,404 $414 $— $5,858 
Charge-offs— — — — — (22)— (22)
Recoveries— — — — 1 2 — 3 
Provision for (recovery of) Credit Losses201 8 (52)— (12)23 — 168 
Ending Balance$2,264 $721 $1,212 $— $1,393 $417 $— $6,007 
Six months ended September 30, 2023
$ in thousandsOne-to-four
family		MultifamilyCommercial Real EstateConstructionBusinessConsumer UnallocatedTotal
Allowance for credit losses:      
Beginning Balance$716 $1,109 $1,814 $— $1,139 $449 $2 $5,229 
Impact of CECL adoption1,220 (392)(497)— 505 (166)(2)668 
Charge-offs— — — — — (117)— (117)
Recoveries— — — — 50 3 — 53 
Provision for (recovery of) Credit Losses328 4 (105)— (301)248 — 174 
Ending Balance$2,264 $721 $1,212 $— $1,393 $417 $— $6,007 
Allowance for Credit Losses Ending Balance: collectively evaluated for impairment$2,241 $721 $1,212 $— $1,383 $417 $— $5,974 
Allowance for Credit Losses Ending Balance: individually evaluated for impairment23 — — — 10 — — 33 
Loan Receivables Ending Balance:$85,081 $179,039 $171,112 $491 $162,460 $12,919 $— $611,102 
Ending Balance: collectively evaluated for impairment80,791 176,439 166,590 491 156,307 12,915 — 593,533 
Ending Balance: individually evaluated for impairment4,290 2,600 4,522 — 6,153 4 — 17,569 

The following is an analysis of the allowance for loan losses as of the fiscal year ended March 31, 2023 and for the three and six months ended September 30, 2022 based upon the incurred loss impairment model.
At March 31, 2023
$ in thousandsOne-to-four familyMultifamilyCommercial Real EstateBusinessConsumerUnallocatedTotal
Allowance for Loan Losses Ending Balance:$716 $1,109 $1,814 $1,139 $449 $2 $5,229 
Allowance for Loan Losses Ending Balance: collectively evaluated for impairment607 1,109 1,814 937 449 2 4,918 
Allowance for Loan Losses Ending Balance: individually evaluated for impairment109 — — 202 — — 311 
Loan Receivables Ending Balance:$65,808 $179,117 $178,424 $166,908 $7,639 $— $597,896 
Ending Balance: collectively evaluated for impairment60,805 179,046 171,234 160,985 7,638 — 579,708 
Ending Balance: individually evaluated for impairment5,003 71 7,190 5,923 1 — 18,188 
Three months ended September 30, 2022
$ in thousandsOne-to-four familyMultifamilyCommercial Real EstateBusinessConsumerUnallocatedTotal
Allowance for loan losses:
Beginning Balance$649 $1,053 $1,108 $2,321 $113 $360 $5,604 
Charge-offs— — — — (11)— (11)
Recoveries90 — 10 4 1 — 105 
Provision for (recovery of) Loan Losses(35)2 490 (511)(21)(114)(189)
Ending Balance$704 $1,055 $1,608 $1,814 $82 $246 $5,509 

Six months ended September 30, 2022
$ in thousandsOne-to-four familyMultifamilyCommercial Real EstateBusinessConsumerUnallocatedTotal
Allowance for loan losses:
Beginning Balance$731 $1,114 $1,157 $2,497 $123 $2 $5,624 
Charge-offs— — — — (24)— (24)
Recoveries90 — 10 23 2 — 125 
Provision for (recovery of) Loan Losses(117)(59)441 (706)(19)244 (216)
Ending Balance$704 $1,055 $1,608 $1,814 $82 $246 $5,509 
Nonaccrual Loans
The following is a summary of nonaccrual loans, at amortized cost, at September 30, 2023 and March 31, 2023.
September 30, 2023
March 31, 2023
$ in thousandsNonaccrual Loans with No AllowanceNonaccrual Loans with an AllowanceTotal
Nonaccrual Loans		Nonaccrual Loans
Gross loans receivable: 
One-to-four family$3,919 $23 $3,942 $4,001 
Multifamily1,131 — $1,131 71 
Commercial real estate4,522 — $4,522 7,190 
Business6,188 10 $6,198 998 
Consumer30 — $30 1 
Total nonaccrual loans$15,790 $33 $15,823 $12,261 
Credit Quality Indicators :
$ in thousands202320222021202020192018 and earlierRevolving LoansTotal
Credit Risk Profile by Internally Assigned Grade: 
Multifamily
Pass$6,622 $53,871 $51,293 $28,942 $17,736 $17,975 $— $176,439 
Special Mention— — — — — — — — 
Substandard— — 1,476 754 — 370 — 2,600 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total6,622 53,871 52,769 29,696 17,736 18,345 — 179,039 
Commercial Real Estate
Pass17,587 31,536 27,878 17,178 21,008 50,716 — 165,903 
Special Mention— — — — — 687 — 687 
Substandard— — — — — 4,522 — 4,522 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total17,587 31,536 27,878 17,178 21,008 55,925 — 171,112 
Construction
Pass491 — — — — — — 491 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total491 — — — — — — 491 
Business
Pass8,383 40,970 50,282 10,968 387 43,276 — 154,266 
Special Mention— — 4,234 — — 11 — 4,245 
Substandard— — 2,993 — 193 763 — 3,949 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total8,383 40,970 57,509 10,968 580 44,050 — 162,460 
Credit Risk Profile Based on Payment Activity:
One-to-four Family
Performing22,419 3,860 13,517 1,440 9,059 31,504 — 81,799 
Non-Performing— — — — — 3,282 — 3,282 
Total22,419 3,860 13,517 1,440 9,059 34,786 — 85,081 
Consumer
Performing11,123 695 11 26 — 1,060 — 12,915 
Non-Performing— 1 3 — — — — 4 
Total11,123 696 14 26 — 1,060 — 12,919 
Gross charge-offs— — — — — 117 — 117 
Total Loans$66,625 $130,933 $151,687 $59,308 $48,383 $154,166 $— $611,102 
    At March 31, 2023, the risk category by class of loans was as follows:
$ in thousandsMultifamilyCommercial Real EstateBusiness
Credit Risk Profile by Internally Assigned Grade:
Pass$175,981 $170,534 $154,056 
Special Mention771 701 5,719 
Substandard 2,365 7,189 7,133 
Total$179,117 $178,424 $166,908 
One-to-four familyConsumer
Credit Risk Profile Based on Payment Activity:
Performing$60,629 $7,639 
Non-Performing5,179 — 
Total$65,808 $7,639 
Past Due Financing Receivables The following table presents an aging analysis of the amortized cost of past due loans receivables at September 30, 2023 and March 31, 2023.
.
September 30, 2023
$ 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$— $203 $2,668 $2,871 $82,210 $85,081 
Multifamily— 487 1,070 1,557 177,482 179,039 
Commercial real estate— — 4,522 4,522 166,590 171,112 
Construction— — — — 491 491 
Business88 12,608 2,645 15,341 147,119 162,460 
Consumer7 3 1 11 12,908 12,919 
Total$95 $13,301 $10,906 $24,302 $586,800 $611,102 
March 31, 2023
$ 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$1,207 $185 $2,475 $3,867 $61,941 $65,808 
Multifamily1,458 — 71 1,529 177,588 179,117 
Commercial real estate1,370 — — 1,370 177,054 178,424 
Business11,006 — 5,014 16,020 150,888 166,908 
Consumer99 26 34 159 7,480 7,639 
Total$15,140 $211 $7,594 $22,945 $574,951 $597,896 
Impaired Loans The following table presents the amortized cost of collateral dependent loans with the associated allowance amount, if applicable, as of September 30, 2023:
Collateral Type
$ in thousandsReal EstateOtherAllowance Allocated
One-to-four family$4,290 $— $23 
Multifamily2,600 — — 
Commercial real estate4,522 — — 
Business5,775 379 10 
Consumer— 3 — 
$17,187 $382 $33 

Real estate collateral includes one-to-four family, multifamily and commercial properties. Collateral types securing business loans include accounts receivable. There have been no significant changes to the types of collateral securing the Bank's collateral dependent loans.

The following table presents information on impaired loans with the associated allowance amount and interest income recognized on a cash basis, if applicable, at March 31, 2023.
At March 31, 2023
$ in thousandsRecorded
Investment		Unpaid
Principal
Balance		Associated
Allowance		Average BalanceInterest Income Recognized
With no specific allowance recorded:
One-to-four family$3,972 $4,567 $— $3,861 $111 
Multifamily71 71 — 220 — 
Commercial real estate7,190 7,378 — 4,054 36 
Business1,114 1,146 — 1,723 — 
Consumer1 1 — — — 
With an allowance recorded:
One-to-four family1,031 1,031 109 554 41 
Business4,809 4,820 202 5,116 316 
Total$18,188 $19,014 $311 $15,528 $504