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v3.20.1

INVESTMENT SECURITIES (Tables) | 12 Months Ended
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Mar. 31, 2020
INVESTMENT SECURITIES |
Schedule of amortized cost and approximate fair value of investment securities | The amortized cost and approximate fair value of investment securities consisted of the following at the dates indicated (in thousands):
|  | Amortized |  | Gross |  | Gross |  | Estimated Fair
|  | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Value
March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |
Municipal securities |  | $ | 4,740 |  | $ | 137 |  | $ | — |  | $ | 4,877
Agency securities |  |  | 6,009 |  |  | 17 |  |  | (10) |  |  | 6,016
Real estate mortgage investment conduits (1) |  |  | 42,663 |  |  | 1,128 |  |  | — |  |  | 43,791
Residential mortgage-backed securities (1) |  |  | 58,700 |  |  | 1,415 |  |  | (30) |  |  | 60,085
Other mortgage-backed securities (2) |  |  | 33,417 |  |  | 256 |  |  | (151) |  |  | 33,522
Total available for sale |  | $ | 145,529 |  | $ | 2,953 |  | $ | (191) |  | $ | 148,291
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities (3) |  | $ | 28 |  | $ | — |  | $ | — |  | $ | 28
|  | Amortized |  | Gross |  | Gross |  | Estimated Fair
|  | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Value
March 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |
Municipal securities |  | $ | 8,885 |  | $ | 30 |  | $ | (34) |  | $ | 8,881
Agency securities |  |  | 12,426 |  |  | 22 |  |  | (107) |  |  | 12,341
Real estate mortgage investment conduits (1) |  |  | 40,835 |  |  | — |  |  | (673) |  |  | 40,162
Residential mortgage-backed securities (1) |  |  | 77,402 |  |  | 7 |  |  | (1,588) |  |  | 75,821
Other mortgage-backed securities (2) |  |  | 42,133 |  |  | 12 |  |  | (1,124) |  |  | 41,021
Total available for sale |  | $ | 181,681 |  | $ | 71 |  | $ | (3,526) |  | $ | 178,226
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities (3) |  | $ | 35 |  | $ | — |  | $ | — |  | $ | 35
(1) Comprised of FHLMC, Federal National Mortgage Association (“FNMA”) and Ginnie Mae (“GNMA”) issued securities. (2) Comprised of U.S. Small Business Administration (“SBA”) issued securities and commercial real estate (“CRE”) secured securities issued by FNMA. (3) Comprised of FHLMC and FNMA issued securities.
Schedule of contractual maturities of investment securities | The contractual maturities of investment securities as of March 31, 2020 are as follows (in thousands):
|  | Available for Sale |  | Held to Maturity
|  | Amortized |  | Estimated |  | Amortized |  | Estimated
|  | Cost |  | Fair Value |  | Cost |  | Fair Value
Due in one year or less |  | $ | 1,001 |  | $ | 1,015 |  | $ | — |  | $ | —
Due after one year through five years |  |  | 4,324 |  |  | 4,320 |  |  | 25 |  |  | 25
Due after five years through ten years |  |  | 33,195 |  |  | 33,983 |  |  | 3 |  |  | 3
Due after ten years |  |  | 107,009 |  |  | 108,973 |  |  | — |  |  | —
Total |  | $ | 145,529 |  | $ | 148,291 |  | $ | 28 |  | $ | 28
Schedule of temporarily impaired securities, fair value and unrealized losses | The fair value of temporarily impaired investment 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
|  | Estimated |  | Unrealized |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized
|  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses
March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency securities |  | $ | 1,998 |  | $ | (10) |  | $ | — |  | $ | — |  | $ | 1,998 |  | $ | (10)
Residential mortgage-backed securities (1) |  |  | 2,509 |  |  | (22) |  |  | 409 |  |  | (8) |  |  | 2,918 |  |  | (30)
Other mortgage-backed securities (3) |  |  | 11,726 |  |  | (58) |  |  | 4,911 |  |  | (93) |  |  | 16,637 |  |  | (151)
Total available for sale |  | $ | 16,233 |  | $ | (90) |  | $ | 5,320 |  | $ | (101) |  | $ | 21,553 |  | $ | (191)
March 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal securities |  | $ | — |  | $ | — |  | $ | 6,554 |  | $ | (34) |  | $ | 6,554 |  | $ | (34)
Agency securities |  |  | — |  |  | — |  |  | 6,861 |  |  | (107) |  |  | 6,861 |  |  | (107)
Real estate mortgage investment conduits (2) |  |  | — |  |  | — |  |  | 40,126 |  |  | (673) |  |  | 40,126 |  |  | (673)
Residential mortgage-backed securities (2) |  |  | — |  |  | — |  |  | 74,288 |  |  | (1,588) |  |  | 74,288 |  |  | (1,588)
Other mortgage-backed securities (3) |  |  | — |  |  | — |  |  | 40,409 |  |  | (1,124) |  |  | 40,409 |  |  | (1,124)
Total available for sale |  | $ | — |  | $ | — |  | $ | 168,238 |  | $ | (3,526) |  | $ | 168,238 |  | $ | (3,526)
(1) Comprised of FHLMC and FNMA issued securities. (2) Comprised of FHLMC, FNMA and GNMA issued securities. (3) Comprised of SBA and CRE secured securities issued by FNMA.

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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