Loans Receivable, Net (Tables)

9 Months Ended

Dec. 31, 2012

Schedule of Accounts, Notes, Loans and Financing Receivable

Loans receivable, net, consisted of the following as of the dates shown:



	December 31, 2012		March 31, 2012
Residential Real Estate Loans	$	90,677,625	$	97,807,917
Consumer Loans	56,595,093		58,685,000
Commercial Business	8,063,901		9,552,575
Commercial Real Estate	250,924,094		276,317,897
Total Loans Held For Investment	406,260,713		442,363,389
Loans Held For Sale	4,770,760		2,671,771
Total Loans Receivable, Gross	411,031,473		445,035,160
Less:
Allowance For Loan Losses	11,318,371		14,615,198
Loans In Process	2,002,595		1,886,652
Deferred Loan Fees	4,687		22,704
	13,325,653		16,524,554
Total Loans Receivable, Net	$	397,705,820	$	428,510,606

Schedule of Allowance for Loan Losses

Changes in the allowance for loan losses for the nine months ended December 31, 2012 and for the years ended March 31, 2012 and 2011 are summarized as follows:



	Nine Months Ended December 31,			Years Ended March 31,
	2012			2012			2011
Balance At Beginning Of Period	$	14,615,198		$	12,501,800		$	12,307,394
Provision For Loan Losses	1,975,000			8,650,000			7,800,000
Charge Offs	(7,422,393		)	(6,643,834		)	(8,116,667		)
Recoveries	2,150,566			107,232			511,073
Total Allowance For Loan Losses	$	11,318,371		$	14,615,198		$	12,501,800

Financing Receivable Credit Quality Indicators

The following tables list the loan grades used by the Company as credit quality indicators and the balance in each category at the dates presented, excluding loans held for sale.



	Credit Quality Measures
December 31, 2012	Pass		Caution		Special Mention		Substandard		Total Loans
Residential Real Estate	$	82,565,630	$	222,046	$	293,079	$	7,596,870	$	90,677,625
Consumer	54,899,665		152,368		184,731		1,358,329		56,595,093
Commercial Business	7,256,607		151,521		514,253		141,520		8,063,901
Commercial Real Estate	162,570,021		32,049,447		17,417,778		38,886,848		250,924,094
Total	$	307,291,923	$	32,575,382	$	18,409,841	$	47,983,567	$	406,260,713



	Credit Quality Measures
March 31, 2012	Pass		Caution		Special Mention		Substandard		Total Loans
Residential Real Estate	$	88,536,685	$	—	$	573,887	$	8,697,345	$	97,807,917
Consumer	57,113,676		159,805		27,604		1,383,915		58,685,000
Commercial Business	8,608,378		446,815		—		497,382		9,552,575
Commercial Real Estate	190,230,745		21,874,264		19,783,230		44,429,658		276,317,897
Total	$	344,489,484	$	22,480,884	$	20,384,721	$	55,008,300	$	442,363,389

Past Due Financing Receivables

The following table presents an age analysis of past due balances by category at December 31, 2012.



	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Loans Receivable
Residential Real Estate	$	—	$	1,794,644	$	3,757,801	$	5,552,445	$	85,125,180	$	90,677,625
Consumer	1,862,611		211,756		646,136		2,720,503		53,874,590		56,595,093
Commercial Business	445,113		36,079		86,991		568,183		7,495,718		8,063,901
Commercial Real Estate	2,432,423		4,852,227		13,913,190		21,197,840		229,726,254		250,924,094
Total	$	4,740,147	$	6,894,706	$	18,404,118	$	30,038,971	$	376,221,742	$	406,260,713

The following table presents an age analysis of past due balances by category at March 31, 2012.



	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Loans Receivable
Residential Real Estate	$	2,778,235	$	742,345	$	3,638,929	$	7,159,509	$	90,648,408	$	97,807,917
Consumer	659,028		352,421		620,358		1,631,807		57,053,193		58,685,000
Commercial Business	174,420		209,418		20,808		404,646		9,147,929		9,552,575
Commercial Real Estate	18,332,136		4,682,891		18,378,165		41,393,192		234,924,705		276,317,897
Total	$	21,943,819	$	5,987,075	$	22,658,260	$	50,589,154	$	391,774,235	$	442,363,389

Schedule of Financing Receivables, Non Accrual Status

The following table shows non-accrual loans by category at December 31, 2012 compared to March 31, 2012.



	At December 31, 2012				At March 31, 2012				$			%
	Amount		Percent ⁽¹⁾		Amount		Percent ⁽¹⁾		Increase (Decrease)			Increase (Decrease)
Non-accrual Loans:
Residential Real Estate	$	3,757,801	0.9	%	$	3,638,929	0.8	%	$	118,872		3.3	%
Commercial Business	86,991		—		20,808		—		66,183			318.1
Commercial Real Estate	13,913,190		3.4		18,378,165		4.2		(4,464,975		)	(24.3	)
Consumer	646,136		0.2		620,358		0.1		25,778			4.2
Total Non- accrual Loans	$	18,404,118	4.5	%	$	22,658,260	5.1	%	$	(4,254,142	)	(18.8	)%

^{(1) PERCENT OF GROSS LOANS RECEIVABLE, NET OF DEFERRED FEES AND LOANS IN PROCESS AND LOANS HELD FOR SALE.}

Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent

The following tables show the activity in the allowance for loan losses by category for the periods indicated.



	For the Nine Months Ended December 31, 2012
	Residential Real Estate			Consumer			Commercial Business			Commercial Real Estate			Total
Beginning Balance	$	1,928,625		$	1,498,111		$	644,855		$	10,543,607		$	14,615,198
Provision	183,236			(227,872		)	175,141			1,844,495			1,975,000
Charge-Offs	(647,161		)	(286,612		)	(209,898		)	(6,278,722		)	(7,422,393		)
Recoveries	56,859			17,644			8,821			2,067,242			2,150,566
Ending Balance	$	1,521,559		$	1,001,271		$	618,919		$	8,176,622		$	11,318,371



	For the Year Ended March 31, 2012
	Residential Real Estate			Consumer			Commercial Business			Commercial Real Estate			Total
Beginning Balance	$	1,702,864		$	1,122,055		$	924,149		$	8,752,732		$	12,501,800
Provision	789,365			1,570,350			114,169			6,176,116			8,650,000
Charge-Offs	(563,604		)	(1,250,573		)	(408,138		)	(4,421,519		)	(6,643,834		)
Recoveries	—			56,279			14,675			36,278			107,232
Ending Balance	$	1,928,625		$	1,498,111		$	644,855		$	10,543,607		$	14,615,198

Allowance for Credit Losses on Financing Receivables

The following tables present information related to impaired loans evaluated individually for impairment and collectively evaluated for impairment in the allowance for loan losses.



	Allowance For Loan Losses
December 31, 2012	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	—	$	1,521,559	$	1,521,559
Consumer	—		1,001,271		1,001,271
Commercial Business	—		618,919		618,919
Commercial Real Estate	440,000		7,736,622		8,176,622
Total	$	440,000	$	10,878,371	$	11,318,371



	Allowance For Loan Losses
March 31, 2012	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	155,000	$	1,773,625	$	1,928,625
Consumer	19,568		1,478,543		1,498,111
Commercial Business	148,610		496,245		644,855
Commercial Real Estate	1,313,670		9,229,937		10,543,607
Total	$	1,636,848	$	12,978,350	$	14,615,198

The following tables present information related to impaired loans evaluated individually for impairment and collectively evaluated for impairment in loans receivable for the periods indicated.



	Loans Receivable
December 31, 2012	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	4,500,902	$	86,176,723	$	90,677,625
Consumer	322,588		56,272,505		56,595,093
Commercial Business	7,853		8,056,048		8,063,901
Commercial Real Estate	35,115,195		215,808,899		250,924,094
Total	$	39,946,538	$	366,314,175	$	406,260,713



	Loans Receivable
March 31, 2012	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	3,544,061	$	94,263,856	$	97,807,917
Consumer	1,849,046		56,835,954		58,685,000
Commercial Business	172,362		9,380,213		9,552,575
Commercial Real Estate	35,231,717		241,086,180		276,317,897
Total	$	40,797,186	$	401,566,203	$	442,363,389

Impaired Financing Receivables

The following tables are a summary of information related to impaired loans as of December 31, 2012 and March 31, 2012.



	December 31, 2012
Impaired Loans	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
With No Related Allowance Recorded:
Residential Real Estate	$	4,500,902	$	4,611,873	$	—	$	4,531,543	$	130,896
Consumer Loans	322,588		386,588		—		342,916		28,419
Commercial Business	7,853		7,853		—		12,236		—
Commercial Real Estate	31,808,577		35,373,833		—		32,963,079		1,036,344
With An Allowance Recorded:
Residential Real Estate	—		—		—		—		—
Consumer Loans	—		—		—		—		—
Commercial Business	—		—		—		—		—
Commercial Real Estate	3,306,618		4,766,031		440,000		3,705,660		—
Total
Residential Real Estate	4,500,902		4,611,873		—		4,531,543		130,896
Consumer Loans	322,588		386,588		—		342,916		28,419
Commercial Business	7,853		7,853		—		12,236		—
Commercial Real Estate	35,115,195		40,139,864		440,000		36,668,739		1,036,344
Total	$	39,946,538	$	45,146,178	$	440,000	$	41,555,434	$	1,195,659



	March 31, 2012
Impaired Loans	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
With No Related Allowance Recorded:
Residential Real Estate	$	2,201,560	$	2,456,960	$	—	$	2,066,066	$	65,818
Consumer Loans	1,829,478		1,879,478		—		2,398,298		86,180
Commercial Business	23,752		47,752		—		294,894		1,677
Commercial Real Estate	27,425,873		29,175,328		—		24,020,047		1,186,679
With An Allowance Recorded:
Residential Real Estate	1,342,501		1,954,501		155,000		586,109		6,137
Consumer Loans	19,568		60,668		19,568		28,181		—
Commercial Business	148,610		148,610		148,610		207,135		5,608
Commercial Real Estate	7,805,844		9,945,912		1,313,670		4,687,210		228,483
Total
Residential Real Estate	3,544,061		4,411,461		155,000		2,652,175		71,955
Consumer Loans	1,849,046		1,940,146		19,568		2,426,479		86,180
Commercial Business	172,362		196,362		148,610		502,029		7,285
Commercial Real Estate	35,231,717		39,121,240		1,313,670		28,707,257		1,415,162
Total	$	40,797,186	$	45,669,209	$	1,636,848	$	34,287,940	$	1,580,582

Troubled Debt Restructurings on Financing Receivables

The following table is a summary of TDRs restructured in the last 12 months that subsequently defaulted during the period:



	For the Nine Months Ended December 31, 2012			For the Year Ended March 31, 2012
Troubled Debt Restructurings That Subsequently Defaulted During the Period	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
Residential Real Estate	—	$	—	—	$	—
Consumer Loans	—	—		—	—
Commercial Business	—	—		—	—
Commercial Real Estate	4	880,745		—	—
Total	4	$	880,745	—	$	—

The following table is a summary of loans restructured as TDRs during the periods indicated:



	For the Nine Months Ended December 31, 2012					For the Year Ended March 31, 2012
Troubled Debt Restructurings	Number of Contracts	Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Contracts	Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
Residential Real Estate	—	$	—	$	—	—	$	—	$	—
Consumer Loans	—	—		—		1	15,358		15,358
Commercial Business	—	—		—		—	—		—
Commercial Real Estate	1	257,452		257,452		14	11,988,576		11,988,576
Total	1	257,452		257,452		15	$	12,003,934	$	12,003,934