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FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jun. 30, 2017

Fair Value Disclosures [Abstract]

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

						Estimated Fair Value Measurements Using
June 30, 2017		Total Estimated Fair Value				Level 1				Level 2				Level 3
Investment securities available for sale:
Municipal securities		$	6,363			$	-			$	6,363			$	-
Agency securities			22,239				-				22,239				-
Real estate mortgage investment conduits			41,463				-				41,463				-
Residential mortgage-backed securities			92,697				-				92,697				-
Other mortgage-backed securities			42,250				-				42,250				-
Total assets measured at fair value on a recurring basis		$	205,012			$	-			$	205,012			$	-

March 31, 2017
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				-
Residential 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			$	-

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

					Estimated Fair Value Measurements Using
June 30, 2017	Total Estimated Fair Value				Level 1				Level 2				Level 3
Impaired loans	$		2,031		$		-		$		-		$		2,031

March 31, 2017
Impaired loans	$		2,281		$		-		$		-		$		2,281

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
Impaired loans		Appraised value		Adjustment for market conditions		N/A (1)
(1) There were no adjustments to appraised values of impaired loans as of June 30, 2017 and March 31, 2017, respectively.

Schedule of carrying amount and estimated fair value of financial instruments

June 30, 2017		Carrying Amount				Level 1				Level 2				Level 3				Estimated Fair Value
Assets:
Cash and cash equivalents		$	34,108			$	34,108			$	-			$	-			$	34,108
Certificates of deposit held for investment			11,042				-				11,078				-				11,078
Loans held for sale			768				-				768				-				768
Investment securities available for sale			205,012				-				205,012				-				205,012
Investment securities held to maturity			54				-				55				-				55
Loans receivable, net			786,913				-				-				760,481				760,481
FHLB stock			1,181				-				1,181				-				1,181
Liabilities:
Demand and savings deposits			830,824				830,824				-				-				830,824
Time deposits			142,659				-				141,678				-				141,678
Junior subordinated debentures			26,414				-				-				13,787				13,787
Capital lease obligation			2,449				-				2,449				-				2,449

		Carrying Amount				Level 1				Level 2				Level 3				Estimated Fair Value
March 31, 2017
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

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- 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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- Definition

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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-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 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14172-108612

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14217-108612

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (c)(2),(d),(e)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a),(c)(1),(d)(1)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14172-108612

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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).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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