Borrowings

9 Months Ended

Dec. 31, 2024

Borrowings

Borrowings

Note 5:Borrowings

Federal Home Loan Bank (FHLB) advances consisted of the following as of December 31, 2024 and March 31, 2024:

	December 31, 2024				March 31, 2024
	Interest				Interest
	Rate		Amount		Rate		Amount
Scheduled to mature year ending March 31,
2025					1.64	%	$	1,000,000
2025					5.75			1,000,000
2026	4.90	%	$	1,000,000	5.90			1,000,000
			$	1,000,000			$	3,000,000

The Company has made a collateral pledge to the FHLB consisting of all shares of FHLB stock owned by the Company and a blanket pledge of approximately $68,929,000 and $67,719,000 of its qualifying mortgage assets as of December 31, 2024 and March 31, 2024, respectively. Based on this collateral, the Company was eligible to borrow up to a total of approximately $44,381,000 and $44,887,000 as of December 31, 2024 and March 31, 2024, respectively.

Maturities of FHLB advances were as follows at December 31, 2024:

	December 31,
	2024
Within one year	$	1,000,000

The Company had an available line of credit with the Federal Reserve Bank totaling $7.5 million and $9.0 million at December 31, 2024 and March 31, 2024, respectively. The line of credit was collateralized by a pledge of certain commercial loans totaling $15,095,000 and $19,203,000 as of December 31, 2024 and March 31, 2024, respectively. The Company had no outstanding borrowings on this line at December 31, 2024 and March 31, 2024.

The Company also has an available line of credit with United Bankers Bank totaling $4,542,000 and $4,365,000 at December 31, 2024 and March 31, 2024, respectively. The Company had no outstanding borrowings on this line at December 31, 2024 and March 31, 2024.