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Investments (Tables)
6 Months Ended
Sep. 26, 2015
Investments, Debt and Equity Securities [Abstract]  
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]
Investments
Investments consist of the following (in thousands):
 
September 26,
2015
 
March 28,
2015
Available-for-sale investment securities
$
22,455

 
$
21,283

Non-marketable equity investments
10,431

 
10,636

 
$
32,886

 
$
31,919


The following tables summarize the Company's available-for-sale investment securities, gross unrealized gains and losses and fair value, aggregated by investment category (in thousands):
 
September 26, 2015
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury and government debt securities
$
1,502

 
$
1

 
$
(3
)
 
$
1,500

Residential mortgage-backed securities
5,311

 
25

 
(35
)
 
5,301

State and political subdivision debt securities
8,015

 
185

 
(29
)
 
8,171

Corporate debt securities
778

 

 
(3
)
 
775

Marketable equity securities
6,172

 
292

 
(756
)
 
5,708

Certificates of deposit
1,000

 

 

 
1,000

 
$
22,778

 
$
503

 
$
(826
)
 
$
22,455


 
March 28, 2015
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury and government debt securities
$
1,952

 
$
1

 
$
(5
)
 
$
1,948

Residential mortgage-backed securities
4,342

 
23

 
(27
)
 
4,338

State and political subdivision debt securities
7,190

 
245

 
(12
)
 
7,423

Corporate debt securities
1,060

 
2

 
(4
)
 
1,058

Marketable equity securities
4,962

 
642

 
(88
)
 
5,516

Certificates of deposit
1,000

 

 

 
1,000

 
$
20,506

 
$
913

 
$
(136
)
 
$
21,283


The following tables show the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):
 
September 26, 2015
 
Less than 12 Months
 
12 Months or Longer
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
U.S. Treasury and government debt securities
$

 
$

 
$
699

 
$
(3
)
 
$
699

 
$
(3
)
Residential mortgage-backed securities
1,257

 
(8
)
 
253

 
(27
)
 
1,510

 
(35
)
State and political subdivision debt securities
1,865

 
(16
)
 
1,004

 
(13
)
 
2,869

 
(29
)
Corporate debt securities
523

 
(3
)
 

 

 
523

 
(3
)
Marketable equity securities
3,368

 
(687
)
 
194

 
(69
)
 
3,562

 
(756
)
 
$
7,013

 
$
(714
)
 
$
2,150

 
$
(112
)
 
$
9,163

 
$
(826
)

 
March 28, 2015
 
Less than 12 Months
 
12 Months or Longer
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
U.S. Treasury and government debt securities
$
499

 
$

 
$
698

 
$
(5
)
 
$
1,197

 
$
(5
)
Residential mortgage-backed securities
438

 
(2
)
 
330

 
(25
)
 
768

 
(27
)
State and political subdivision debt securities
1,099

 
(6
)
 
256

 
(6
)
 
1,355

 
(12
)
Corporate debt securities
247

 
(4
)
 

 

 
247

 
(4
)
Marketable equity securities
1,067

 
(85
)
 
100

 
(3
)
 
1,167

 
(88
)
 
$
3,350

 
$
(97
)
 
$
1,384

 
$
(39
)
 
$
4,734

 
$
(136
)

Based on the Company's ability and intent to hold the investments for a reasonable period of time sufficient for a forecasted recovery of fair value, the Company does not consider any investments to be other-than-temporarily impaired at September 26, 2015.
As of September 26, 2015, the Company's investments in marketable equity securities consist of investments in common stock of industrial and other companies ($5.6 million of the total fair value and $753,000 of the total unrealized losses) and bank trust, insurance and public utility companies ($100,000 of the total fair value and $3,000 of the total unrealized losses).
As of March 28, 2015, the Company's investments in marketable equity securities consisted of investments in common stock of industrial and other companies ($5.4 million of the total fair value and $85,000 of the total unrealized losses) and bank trust, insurance and public utility companies ($100,000 of the total fair value and $3,000 of the total unrealized losses).
The amortized cost and fair value of the Company's investments in debt securities, by contractual maturity, are shown in the table below (in thousands). Expected maturities differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
September 26, 2015
 
March 28, 2015
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Due in less than one year
$
1,286

 
$
1,291

 
$
1,804

 
$
1,821

Due after one year through five years
3,456

 
3,467

 
2,834

 
2,844

Due after five years through ten years
4,069

 
4,037

 
2,467

 
2,452

Due after ten years
6,795

 
6,952

 
7,439

 
7,650

 
$
15,606

 
$
15,747

 
$
14,544

 
$
14,767


Realized gains and losses from the sale of securities are determined using the specific identification method. Gross gains realized on the sales of investment securities for the three and six months ended September 26, 2015 were approximately $51,000 and $231,000, respectively. Gross losses realized were approximately $66,000 and $112,000 for the three and six months ended September 26, 2015, respectively. Gross gains realized on the sales of investment securities for the three and six months ended September 27, 2014 were approximately $123,000 and $426,000, respectively. Gross losses realized were approximately $11,000 and $79,000 for the three and six months ended September 27, 2014, respectively.
Schedule of Investments [Table Text Block]
Investments consist of the following (in thousands):
 
September 26,
2015
 
March 28,
2015
Available-for-sale investment securities
$
22,455

 
$
21,283

Non-marketable equity investments
10,431

 
10,636

 
$
32,886

 
$
31,919

Available-for-Sale Securities by Investment Category
The following tables summarize the Company's available-for-sale investment securities, gross unrealized gains and losses and fair value, aggregated by investment category (in thousands):
 
September 26, 2015
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury and government debt securities
$
1,502

 
$
1

 
$
(3
)
 
$
1,500

Residential mortgage-backed securities
5,311

 
25

 
(35
)
 
5,301

State and political subdivision debt securities
8,015

 
185

 
(29
)
 
8,171

Corporate debt securities
778

 

 
(3
)
 
775

Marketable equity securities
6,172

 
292

 
(756
)
 
5,708

Certificates of deposit
1,000

 

 

 
1,000

 
$
22,778

 
$
503

 
$
(826
)
 
$
22,455


 
March 28, 2015
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury and government debt securities
$
1,952

 
$
1

 
$
(5
)
 
$
1,948

Residential mortgage-backed securities
4,342

 
23

 
(27
)
 
4,338

State and political subdivision debt securities
7,190

 
245

 
(12
)
 
7,423

Corporate debt securities
1,060

 
2

 
(4
)
 
1,058

Marketable equity securities
4,962

 
642

 
(88
)
 
5,516

Certificates of deposit
1,000

 

 

 
1,000

 
$
20,506

 
$
913

 
$
(136
)
 
$
21,283

Investment Securities in a Continuous Unrealized Loss Position
The following tables show the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):
 
September 26, 2015
 
Less than 12 Months
 
12 Months or Longer
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
U.S. Treasury and government debt securities
$

 
$

 
$
699

 
$
(3
)
 
$
699

 
$
(3
)
Residential mortgage-backed securities
1,257

 
(8
)
 
253

 
(27
)
 
1,510

 
(35
)
State and political subdivision debt securities
1,865

 
(16
)
 
1,004

 
(13
)
 
2,869

 
(29
)
Corporate debt securities
523

 
(3
)
 

 

 
523

 
(3
)
Marketable equity securities
3,368

 
(687
)
 
194

 
(69
)
 
3,562

 
(756
)
 
$
7,013

 
$
(714
)
 
$
2,150

 
$
(112
)
 
$
9,163

 
$
(826
)

 
March 28, 2015
 
Less than 12 Months
 
12 Months or Longer
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
U.S. Treasury and government debt securities
$
499

 
$

 
$
698

 
$
(5
)
 
$
1,197

 
$
(5
)
Residential mortgage-backed securities
438

 
(2
)
 
330

 
(25
)
 
768

 
(27
)
State and political subdivision debt securities
1,099

 
(6
)
 
256

 
(6
)
 
1,355

 
(12
)
Corporate debt securities
247

 
(4
)
 

 

 
247

 
(4
)
Marketable equity securities
1,067

 
(85
)
 
100

 
(3
)
 
1,167

 
(88
)
 
$
3,350

 
$
(97
)
 
$
1,384

 
$
(39
)
 
$
4,734

 
$
(136
)
Contractual Maturity of Investment Securities
The amortized cost and fair value of the Company's investments in debt securities, by contractual maturity, are shown in the table below (in thousands). Expected maturities differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
September 26, 2015
 
March 28, 2015
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Due in less than one year
$
1,286

 
$
1,291

 
$
1,804

 
$
1,821

Due after one year through five years
3,456

 
3,467

 
2,834

 
2,844

Due after five years through ten years
4,069

 
4,037

 
2,467

 
2,452

Due after ten years
6,795

 
6,952

 
7,439

 
7,650

 
$
15,606

 
$
15,747

 
$
14,544

 
$
14,767