Fair Value of Financial Instruments (Tables)

6 Months Ended

Sep. 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 September 30, 2023 and March 31, 2023 are as follows:

	September 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	$	52,189	$	52,189	$	52,189	$	—	$	—
Securities available-for-sale	47,644		47,644		—		47,644		—
Securities held-to-maturity	2,162		2,005		—		2,005		—
Loans receivable	605,095		569,278		—		—		569,278
Accrued interest receivable	2,078		2,078		—		2,078		—
Mortgage servicing rights	151		151		—		—		151
Financial Liabilities:
Deposits	$	630,453	$	625,401	$	437,832	$	187,569	$	—
Advances from FHLB-NY	28,027		28,037		—		28,037		—
Other borrowed money	18,403		16,867		—		16,867		—
Accrued interest payable	1,197		1,197		—		1,197		—

	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		—