XML 84 R14.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Mortgage-backed Securities | 6 Months Ended
--- | ---
Sep. 30, 2014
Notes |
Mortgage-backed Securities | 6. MORTGAGE-BACKED SECURITIES Mortgage-backed securities held to maturity consisted of the following at the dates indicated (in thousands):
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
September 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities (1) | $ | 90 |  | $ | 2 |  | $ | - |  | $ | 92 |
March 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities (1) | $ | 101 |  | $ | 3 |  | $ | - |  | $ | 104 |
(1) Comprised of Federal National Mortgage Association (“FNMA”) and Federal Home Loan Mortgage Corporation (“ FHLMC”) issued securities.
The contractual maturities of mortgage-backed securities classified as held to maturity are as follows (in thousands):
September 30, 2014 |  | Amortized Cost |  |  | Estimated Fair Value
Due in one year or less | $ | - |  | $ | -
Due after one year through five years |  | - |  |  | -
Due after five years through ten years |  | 77 |  |  | 78
Due after ten years |  | 13 |  |  | 14
Total | $ | 90 |  | $ | 92
Mortgage-backed securities held to maturity with an amortized cost of $29,000 and $36,000 and a fair value of $29,000 and $37,000 at September 30, 2014 and March 31, 2014, respectively, were pledged as collateral for governmental public funds held by the Company. Mortgage-backed securities available for sale consisted of the following at the dates indicated (in thousands):
September 30, 2014 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
Real estate mortgage investment conduits (1) | $ | 25,151 |  | $ | 20 |  | $ | (82 | ) | $ | 25,089 |
Mortgage-backed securities (2) |  | 89,909 |  |  | 341 |  |  | (322 | ) |  | 89,928 |
Other mortgage-backed securities (3) |  | 5,699 |  |  | 37 |  |  | (13 | ) |  | 5,723 |
Total | $ | 120,759 |  | $ | 398 |  | $ | (417 | ) | $ | 120,740 |
March 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |
Real estate mortgage investment conduits | $ | 7,218 |  | $ | 9 |  | $ | (77 | ) | $ | 7,150 |
Mortgage-backed securities |  | 65,858 |  |  | 102 |  |  | (547 | ) |  | 65,413 |
Other mortgage-backed securities |  | 6,007 |  |  | 18 |  |  | (13 | ) |  | 6,012 |
Total | $ | 79,083 |  | $ | 129 |  | $ | (637 | ) | $ | 78,575 |
(1) Comprised of FHLMC and FNMA issued securities.
(2) Comprised of FHLMC, FNMA and Ginnie Mae (“GNMA”) issued securities.
(3) Comprised of U.S. Small Business Administration (“SBA”) issued securities and Commercial Real Estate (“CRE”) secured securities issued by private issuers.
The contractual maturities of mortgage-backed securities available for sale are as follows (in thousands):
September 30, 2014 |  | Amortized Cost |  |  | Estimated Fair Value
Due in one year or less | $ | - |  | $ | -
Due after one year through five years |  | 15 |  |  | 15
Due after five years through ten years |  | 12,420 |  |  | 12,484
Due after ten years |  | 108,324 |  |  | 108,241
Total | $ | 120,759 |  | $ | 120,740
The fair value of temporarily impaired securities, the amount of unrealized losses and the length of time these unrealized losses existed are as follows at the dates indicated (in thousands):
| Less than 12 months |  | 12 months or longer |  | Total |
|  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
September 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate mortgage investment conduits | $ | 18,852 |  | $ | (82 | ) | $ | - |  | $ | - |  | $ | 18,852 |  | $ | (82 | )
Mortgage-backed securities (1) |  | 31,596 |  |  | (110 | ) |  | 5,221 |  |  | (212 | ) |  | 36,817 |  |  | (322 | )
Other mortgage-backed securities (2) |  | 757 |  |  | (7 | ) |  | 708 |  |  | (6 | ) |  | 1,465 |  |  | (13 | )
Total | $ | 51,205 |  | $ | (199 | ) | $ | 5,929 |  | $ | (218 | ) | $ | 57,134 |  | $ | (417 | )
March 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate mortgage investment conduits | $ | 4,996 |  | $ | (77 | ) | $ | - |  | $ | - |  | $ | 4,996 |  | $ | (77 | )
Mortgage-backed securities |  | 49,177 |  |  | (547 | ) |  | - |  |  | - |  |  | 49,177 |  |  | (547 | )
Other mortgage-backed securities |  | 1,526 |  |  | (13 | ) |  | - |  |  | - |  |  | 1,526 |  |  | (13 | )
Total | $ | 55,699 |  | $ | (637 | ) | $ | - |  | $ | - |  | $ | 55,699 |  | $ | (637 | )
(1) Comprised of FHLMC and FNMA issued securities.
(2) Comprised of SBA issued securities.
The unrealized losses on the above mortgage-backed securities were primarily attributable to increases in market interest rates subsequent to their purchase by the Company. The Company expects the fair value of the mortgage-backed securities to recover as the mortgage-backed securities approach their maturity dates or sooner if market yields for such securities decline. The Company does not believe that the mortgage-backed securities are impaired because of their credit quality or related to any issuer or industry specific event. Based on management’s evaluation and intent, the unrealized losses related to the mortgage-backed securities in this table are considered temporary. Expected maturities of mortgage-backed securities held to maturity and available for sale will differ from contractual maturities because borrowers may have the right to prepay obligations with or without prepayment penalties. Mortgage-backed securities available for sale with an amortized cost of $1.6 million and $1.7 million and a fair value of $1.6 million and $1.7 million at September 30, 2014 and March 31, 2014, respectively, were pledged as collateral for government public funds held by the Bank.

X
- Definition The complete disclosure on (collateralized) mortgage-backed securities. + References No definition available. + Details
Name: | fil_MortgageBackedSecurities
Namespace Prefix: | fil_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration