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REAL ESTATE OWNED | 12 Months Ended
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Mar. 31, 2017
Real Estate Owned, Disclosure of Detailed Components [Abstract] |
REAL ESTATE OWNED |
8. | REAL ESTATE OWNED
The following table is a summary of the activity in REO for the periods indicated (in thousands):
|  | Year Ended March 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Balance at beginning of year, net |  | $ | 595 |  |  | $ | 1,603 |  |  | $ | 7,703 |
Additions |  |  | - |  |  |  | 298 |  |  |  | 1,512 |
Dispositions |  |  | (267 | ) |  |  | (937 | ) |  |  | (6,897 | )
Writedowns |  |  | (30 | ) |  |  | (369 | ) |  |  | (715 | )
Balance at end of year, net |  | $ | 298 |  |  | $ | 595 |  |  | $ | 1,603 |
REO expenses for the year ended March 31, 2017 consisted of write-downs on existing REO properties of $30,000 and operating expenses of $24,000. Net losses on dispositions of REO totaled $5,000 for the year ended March 31, 2017, and were included in other non-interest income in the accompanying consolidated statements of income. REO expenses for the year ended March 31, 2016 consisted of write-downs on existing REO properties of $369,000, operating expenses of $198,000 and net losses on dispositions of REO of $187,000. REO expenses for the year ended March 31, 2015 consisted of write-downs on existing REO properties of $715,000, operating expenses of $279,000 and net losses on dispositions of REO of $80,000. At March 31, 2017, the carrying amount of foreclosed residential real estate properties held in REO as a result of obtaining physical possession was $298,000, and the recorded investment in consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process was $91,000.

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- Definition The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=68051746&loc=d3e18551-111553 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=68051746&loc=d3e18511-111553 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65884687&loc=d3e4437-111522 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1424-110224 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule III)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(10)(4)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI http://asc.fasb.org/extlink&oid=6590653&loc=d3e638233-123024 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 43 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1739-110224 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(8)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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