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Mortgage-Backed Securities

3 Months Ended

Sep. 30, 2011

6.	MORTGAGE-BACKED SECURITIES

Mortgage-backed securities held to maturity consisted of the following (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
September 30, 2011
FHLMC mortgage-backed securities	$	74	$	4	$	-	$	78
FNMA mortgage-backed securities		107		5		-		112
Total	$	181	$	9	$	-	$	190
March 31, 2011
FHLMC mortgage-backed securities	$	78	$	4	$	-	$	82
FNMA mortgage-backed securities		112		5		-		117
Total	$	190	$	9	$	-	$	199

The contractual maturities of mortgage-backed securities classified as held to maturity are as follows (in thousands):

September 30, 2011	Amortized Cost		Estimated Fair Value
Due in one year or less	$	-	$	-
Due after one year through five years		5		5
Due after five years through ten years		-		-
Due after ten years		176		185
Total	$	181	$	190

Mortgage-backed securities held to maturity with an amortized cost of $73,000 and $76,000 and a fair value of $76,000 and $80,000 at September 30, 2011 and March 31, 2011, respectively, were pledged as collateral for governmental public funds held by the Bank. Mortgage-backed securities held to maturity with an amortized cost of $95,000 and $98,000 and a fair value of $100,000 and $103,000 at September 30, 2011 and March 31, 2011, respectively, were pledged as collateral for treasury tax and loan funds held by the Bank.

Mortgage-backed securities available for sale consisted of the following (in thousands):

September 30, 2011	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Real estate mortgage investment conduits	$	367	$	11	$	-	$	378
FHLMC mortgage-backed securities		913		37		-		950
FNMA mortgage-backed securities		12		1		-		13
Total	$	1,292	$	49	$	-	$	1,341
March 31, 2011
Real estate mortgage investment conduits	$	421	$	12	$	-	$	433
FHLMC mortgage-backed securities		1,270		34		-		1,304
FNMA mortgage-backed securities		38		2		-		40
Total	$	1,729	$	48	$	-	$	1,777

The contractual maturities of mortgage-backed securities available for sale are as follows (in thousands):

September 30, 2011	Amortized Cost		Estimated Fair Value
Due in one year or less	$	-	$	-
Due after one year through five years		1,040		1,085
Due after five years through ten years		-		-
Due after ten years		252		256
Total	$	1,292	$	1,341

Mortgage-backed securities available for sale with an amortized cost of $926,000 and $178,000 and a fair value of $968,000 and $187,000 at September 30, 2011 and March 31, 2011, respectively, were pledged as collateral for government public funds held by the Bank. Mortgage-backed securities available for sale with an amortized cost of $88,000 and $128,000 and a fair value of $90,000 and $131,000 at September 30, 2011 and March 31, 2011, respectively, were pledged as collateral for treasury tax and loan funds held by the Bank.