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Loans Receivable and ACL (Tables)
 9 Months Ended
Dec. 31, 2023
Loans and Leases Receivable Disclosure [Abstract]  
Loans Receivable and ACL The following is a summary of loans receivable at December 31, 2023 and March 31, 2023:
December 31, 2023
March 31, 2023
$ in thousandsAmountPercentAmountPercent
Loans receivable:    
One-to-four family$84,041 13.4 %$65,808 11.0 %
Multifamily177,772 28.5 %179,117 30.0 %
Commercial real estate174,202 27.9 %178,424 29.8 %
Construction1,559 0.2 %— — %
Business (1)
172,204 27.6 %166,908 27.9 %
Consumer (2)
14,873 2.4 %7,639 1.3 %
Total loans receivable$624,651 100.0 %$597,896 100.0 %
Allowance for credit losses(5,897)(5,229)
Total loans receivable, net$618,754 $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 nine months ended December 31, 2023 under the expected loss methodology.
Three months ended December 31, 2023
$ in thousandsOne-to-four
family		MultifamilyCommercial Real EstateConstructionBusinessConsumerUnallocatedTotal
Allowance for credit losses:
Beginning Balance$2,264 $721 $1,212 $— $1,393 $417 $— $6,007 
Charge-offs— — — — — (17)— (17)
Recoveries— — — — 2 2 — 4 
Provision for (recovery of) Credit Losses(196)1 (1)1 57 41 — (97)
Ending Balance$2,068 $722 $1,211 $1 $1,452 $443 $— $5,897 
Nine months ended December 31, 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— — — — — (134)— (134)
Recoveries— — — — 52 5 — 57 
Provision for (recovery of) Credit Losses132 5 (106)1 (244)289 — 77 
Ending Balance$2,068 $722 $1,211 $1 $1,452 $443 $— $5,897 
Allowance for Credit Losses Ending Balance: collectively evaluated for impairment$2,068 $722 $1,211 $1 $1,442 $443 $— $5,887 
Allowance for Credit Losses Ending Balance: individually evaluated for impairment— — — — 10 — — 10 
Loan Receivables Ending Balance:$84,041 $177,772 $174,202 $1,559 $172,204 $14,873 $— $624,651 
Ending Balance: collectively evaluated for impairment80,772 175,179 168,265 1,559 159,349 14,853 — 599,977 
Ending Balance: individually evaluated for impairment3,269 2,593 5,937 — 12,855 20 — 24,674 

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 nine months ended December 31, 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 December 31, 2022
$ in thousandsOne-to-four familyMultifamilyCommercial Real EstateBusinessConsumerUnallocatedTotal
Allowance for loan losses:
Beginning Balance$704 $1,055 $1,608 $1,814 $82 $246 $5,509 
Charge-offs— — (586)— (106)— (692)
Recoveries— — — 30 2 — 32 
Provision for (recovery of) Loan Losses20 25 23 69 143 25 305 
Ending Balance$724 $1,080 $1,045 $1,913 $121 $271 $5,154 
Nine months ended December 31, 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— — (586)— (130)— (716)
Recoveries90 — 10 53 4 — 157 
Provision for (recovery of) Loan Losses(97)(34)464 (637)124 269 89 
Ending Balance$724 $1,080 $1,045 $1,913 $121 $271 $5,154 
Nonaccrual Loans
The following is a summary of nonaccrual loans, at amortized cost, at December 31, 2023 and March 31, 2023.
December 31, 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$4,295 $— $4,295 $4,001 
Multifamily2,627 — $2,627 71 
Commercial real estate5,937 — $5,937 7,190 
Business13,999 10 $14,009 998 
Consumer27 18 $45 1 
Total nonaccrual loans$26,885 $28 $26,913 $12,261 
Credit Quality Indicators :
$ in thousands202320222021202020192018 and earlierRevolving LoansTotal
Credit Risk Profile by Internally Assigned Grade: 
Multifamily
Pass$6,608 $53,694 $51,037 $28,668 $17,619 $17,553 $— $175,179 
Special Mention— — — — — — — — 
Substandard— — 1,474 754 — 365 — 2,593 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total6,608 53,694 52,511 29,422 17,619 17,918 — 177,772 
Commercial Real Estate
Pass29,104 31,426 27,757 17,068 20,834 42,810 — 168,999 
Special Mention— — — — — 681 — 681 
Substandard— — — — — 4,522 — 4,522 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total29,104 31,426 27,757 17,068 20,834 48,013 — 174,202 
Construction
Pass1,559 — — — — — — 1,559 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total1,559 — — — — — — 1,559 
Business
Pass12,715 33,568 53,185 10,897 372 49,540 — 160,277 
Special Mention— — — — 235 5 — 240 
Substandard— 7,056 3,987 — — 644 — 11,687 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total12,715 40,624 57,172 10,897 607 50,189 — 172,204 
Credit Risk Profile Based on Payment Activity:
One-to-four Family
Performing22,349 3,844 13,470 1,432 8,651 31,026 — 80,772 
Non-Performing— — — — — 3,269 — 3,269 
Total22,349 3,844 13,470 1,432 8,651 34,295 — 84,041 
Consumer
Performing12,914 607 3 20 — 1,285 — 14,829 
Non-Performing18 24 2 — — — — 44 
Total12,932 631 5 20 — 1,285 — 14,873 
Gross charge-offs— — — — — 134 — 134 
Total Loans$85,267 $130,219 $150,915 $58,839 $47,711 $151,700 $— $624,651 
    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 December 31, 2023 and March 31, 2023.
.
December 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$346 $— $2,991 $3,337 $80,704 $84,041 
Multifamily8,758 — 2,543 11,301 166,471 177,772 
Commercial real estate3,533 2,945 5,937 12,415 161,787 174,202 
Construction— — — — 1,559 1,559 
Business3,535 2,137 13,535 19,207 152,997 172,204 
Consumer142 118 18 278 14,595 14,873 
Total$16,314 $5,200 $25,024 $46,538 $578,113 $624,651 
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 December 31, 2023:
Collateral Type
$ in thousandsReal EstateOtherAllowance Allocated
One-to-four family$3,269 $— $— 
Multifamily2,593 — — 
Commercial real estate5,937 — — 
Business12,464 391 10 
Consumer— 20 1 
$24,263 $411 $11 

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