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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Schedule of assets that are measured at estimated fair value on a recurring basis

						Estimated Fair Value Measurements Using
March 31, 2017		Total Estimated Fair Value				Level 1				Level 2				Level 3
Investment securities available for sale:
Municipal securities		$	2,819			$	-			$	2,819			$	-
Agency securities			16,808				-				16,808				-
Real estate mortgage investment conduits			43,160				-				43,160				-
Mortgage-backed securities			96,611				-				96,611				-
Other mortgage-backed securities			40,816				-				40,816				-
Total assets measured at fair value on a recurring basis		$	200,214			$	-			$	200,214			$	-

						Estimated Fair Value Measurements Using
March 31, 2016		Total Estimated Fair Value				Level 1				Level 2				Level 3
Investment securities available for sale:
Trust preferred		$	1,808			$	-			$	-			$	1,808
Agency securities			19,569				-				19,569				-
Real estate mortgage investment conduits			43,924				-				43,924				-
Mortgage-backed securities			76,353				-				76,353				-
Other mortgage-backed securities			9,036				-				9,036				-
Total assets measured at fair value on a recurring basis		$	150,690			$	-			$	148,882			$	1,808

Schedule of reconciliation of assets that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3)

		For the Year Ended March 31,
		2017				2016
Beginning balance		$	1,808			$	1,812
Included in earnings (1)			(158	)			-
Included in other comprehensive income			29				(4	)
Disposition			(1,679	)			-
Ending balance		$	-			$	1,808
(1) Included in other non-interest income.

Schedule of assets that are measured at estimated fair value on a nonrecurring basis

					Estimated fair value measurements using
March 31, 2017	Total estimated fair value				Level 1				Level 2				Level 3
Impaired loans		$	2,281			$	-			$	-			$	2,281

March 31, 2016
Impaired loans		$	1,092			$	-			$	-			$	1,092
REO			644				-				-				644
Total assets measured at fair value on a nonrecurring basis		$	1,736			$	-			$	-			$	1,736

Schedule of quantitative information about Level 3 inputs for financial instruments measured at fair value on a nonrecurring basis

		Valuation technique		Significant unobservable inputs		Range (1)
Impaired loans		Appraised value		Adjustment for market conditions		N/A
REO		Appraised value		Adjustment for market conditions		N/A
(1)  There were no adjustments to appraised values of impaired loans for the year ended March 31, 2017. There were no adjustments to appraised values of impaired loans or REO for the year ended March 31, 2016.

Schedule of carrying amount and estimated fair value of financial instruments

March 31, 2017		Carrying Amount				Level 1				Level 2				Level 3				Estimated Fair Value
Assets:
Cash and cash equivalents		$	64,613			$	64,613			$	-			$	-			$	64,613
Certificates of deposit held for investment			11,042				-				11,108				-				11,108
Loans held for sale			478				-				478				-				478
Investment securities available for sale			200,214				-				200,214				-				200,214
Investment securities held to maturity			64				-				66				-				66
Loans receivable, net			768,904				-				-				731,996				731,996
FHLB stock			1,181				-				1,181				-				1,181
Liabilities:
Demand and savings deposits			830,258				830,258				-				-				830,258
Time deposits			149,800				-				148,574				-				148,574
Junior subordinated debentures			26,390				-				-				13,284				13,284
Capital lease obligation			2,454				-				2,454				-				2,454

March 31, 2016		Carrying Amount				Level 1				Level 2				Level 3				Estimated Fair Value
Assets:
Cash and cash equivalents		$	55,400			$	55,400			$	-			$	-			$	55,400
Certificates of deposit held for investment			16,769				-				16,959				-				16,959
Loans held for sale			503				-				503				-				503
Investment securities available for sale			150,690				-				148,882				1,808				150,690
Investment securities held to maturity			75				-				76				-				76
Loans receivable, net			614,934				-				-				571,068				571,068
FHLB stock			1,060				-				1,060				-				1,060
Liabilities:
Demand and savings deposits			660,421				660,421				-				-				660,421
Time deposits			119,382				-				119,143				-				119,143
Junior subordinated debentures			22,681				-				-				7,705				7,705
Capital lease obligation			2,475				-				2,475				-				2,475

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

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-Publisher FASB
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-Paragraph 2
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Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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