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FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

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

						Estimated Fair Value Measurements Using
December 31, 2018		Total Estimated Fair Value				Level 1				Level 2				Level 3
Investment securities available for sale:
Municipal securities		$	8,679			$	-			$	8,679			$	-
Agency securities			12,180				-				12,180				-
Real estate mortgage investment conduits			41,451				-				41,451				-
Residential mortgage-backed securities			77,827				-				77,827				-
Other mortgage-backed securities			42,143				-				42,143				-
Total assets measured at fair value on a recurring basis		$	182,280			$	-			$	182,280			$	-

March 31, 2018

Investment securities available for sale:
Municipal securities		$	8,732			$	-			$	8,732			$	-
Agency securities			22,102				-				22,102				-
Real estate mortgage investment conduits			46,955				-				46,955				-
Residential mortgage-backed securities			89,074				-				89,074				-
Other mortgage-backed securities			46,358				-				46,358				-
Total assets measured at fair value on a recurring basis		$	213,221			$	-			$	213,221			$	-

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

					Estimated Fair Value Measurements Using
December 31, 2018	Total Estimated Fair Value				Level 1				Level 2				Level 3
Impaired loans		$	396			$	-			$	-			$	396

March 31, 2018
Impaired loans		$	2,143			$	-			$	-			$	2,143

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 or discounted cash flows		Adjustment for market conditions or discount rate		N/A(1) 5.25% - 8.0%
(1)    There were no adjustments to appraised values of impaired loans as of December 31, 2018 and March 31, 2018.

Schedule of carrying amount and estimated fair value of financial instruments

December 31, 2018		Carrying Amount				Level 1				Level 2				Level 3				Estimated Fair Value
Assets:
Cash and cash equivalents		$	23,394			$	23,394			$	-			$	-			$	23,394
Certificates of deposit held for investment			747				-				738				-				738
Investment securities available for sale			182,280				-				182,280				-				182,280
Investment securities held to maturity			36				-				37				-				37
Loans receivable, net			857,134				-				-				848,906				848,906
FHLB stock			2,735				-				2,735				-				2,735
Liabilities:
Time deposits			95,809				-				93,818				-				93,818
FHLB advances			34,543				-				34,543				-				34,543
Junior subordinated debentures			26,553				-				-				15,849				15,849
Capital lease obligation			2,410				-				2,410				-				2,410

March 31, 2018		Carrying Amount				Level 1				Level 2				Level 3				Estimated Fair Value
Assets:
Cash and cash equivalents		$	44,767			$	44,767			$	-			$	-			$	44,767
Certificates of deposit held for investment			5,967				-				5,959				-				5,959
Loans held for sale			210				-				210				-				210
Investment securities available for sale			213,221				-				213,221				-				213,221
Investment securities held to maturity			42				-				43				-				43
Loans receivable, net			800,610				-				-				792,916				792,916
FHLB stock			1,353				-				1,353				-				1,353
Liabilities:
Time deposits			123,144				-				120,940				-				120,940
Junior subordinated debentures			26,484				-				-				15,274				15,274
Capital lease obligation			2,431				-				2,431				-				2,431

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 input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of information about asset and liability measured at fair value under fair value option.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14210-108612

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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).

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-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
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