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INVESTMENT SECURITIES (Tables) | 3 Months Ended
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Jun. 30, 2021
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): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Gross |  | Gross |  | Estimated
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
​ | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Value
June 30, 2021 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Available for sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Municipal securities | ​ | $ | 38,293 | ​ | $ | 434 | ​ | $ | (213) | ​ | $ | 38,514
Agency securities | ​ |  | 47,076 | ​ | ​ | 69 | ​ | ​ | (392) | ​ | ​ | 46,753
Real estate mortgage investment conduits (1) | ​ |  | 53,997 | ​ | ​ | 374 | ​ | ​ | (411) | ​ | ​ | 53,960
Residential mortgage-backed securities (1) | ​ |  | 85,259 | ​ | ​ | 948 | ​ | ​ | (349) | ​ | ​ | 85,858
Other mortgage-backed securities (2) | ​ |  | 42,887 | ​ | ​ | 930 | ​ | ​ | (49) | ​ | ​ | 43,768
Total available for sale | ​ | $ | 267,512 | ​ | $ | 2,755 | ​ | $ | (1,414) | ​ | $ | 268,853
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held to maturity: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal securities | ​ | $ | 10,384 | ​ | $ | 36 | ​ | $ | (177) | ​ | $ | 10,243
Agency securities | ​ | ​ | 7,676 | ​ | ​ | — | ​ | ​ | (105) | ​ | ​ | 7,571
Real estate mortgage investment conduits (1) | ​ | ​ | 9,068 | ​ | ​ | — | ​ | ​ | (77) | ​ | ​ | 8,991
Residential mortgage-backed securities (3) | ​ | ​ | 5,989 | ​ | ​ | — | ​ | ​ | (75) | ​ | ​ | 5,914
Other mortgage-backed securities (2) | ​ | ​ | 6,108 | ​ | ​ | — | ​ | ​ | (163) | ​ | ​ | 5,945
Total held to maturity | ​ | $ | 39,225 | ​ | $ | 36 | ​ | $ | (597) | ​ | $ | 38,664
​ ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Gross |  | Gross |  | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Estimated
​ | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Fair Value
March 31, 2021 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Available for sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Municipal securities | ​ | $ | 23,883 | ​ | $ | 238 | ​ | $ | (555) | ​ | $ | 23,566
Agency securities | ​ |  | 25,996 | ​ | ​ | 5 | ​ | ​ | (686) | ​ | ​ | 25,315
Real estate mortgage investment conduits (1) | ​ |  | 55,826 | ​ | ​ | 469 | ​ | ​ | (480) | ​ | ​ | 55,815
Residential mortgage-backed securities (1) | ​ |  | 71,787 | ​ | ​ | 1,075 | ​ | ​ | (614) | ​ | ​ | 72,248
Other mortgage-backed securities (2) | ​ |  | 39,022 | ​ | ​ | 514 | ​ | ​ | (176) | ​ | ​ | 39,360
Total available for sale | ​ | $ | 216,514 | ​ | $ | 2,301 | ​ | $ | (2,511) | ​ | $ | 216,304
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held to maturity: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal securities | ​ | $ | 10,391 | ​ | $ | — | ​ | $ | (509) | ​ | $ | 9,882
Agency securities | ​ | ​ | 7,688 | ​ | ​ | — | ​ | ​ | (220) | ​ | ​ | 7,468
Real estate mortgage investment conduits (1) | ​ | ​ | 9,207 | ​ | ​ | — | ​ | ​ | (141) | ​ | ​ | 9,066
Residential mortgage-backed securities (3) | ​ | ​ | 6,175 | ​ | ​ | — | ​ | ​ | (119) | ​ | ​ | 6,056
Other mortgage-backed securities (2) | ​ | ​ | 6,113 | ​ | ​ | — | ​ | ​ | (365) | ​ | ​ | 5,748
Total held to maturity | ​ | ​ | 39,574 | ​ | $ | — | ​ | $ | (1,354) | ​ | $ | 38,220
(1) | Comprised of Federal Home Loan Mortgage Corporation (“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 June 30, 2021 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Available for Sale | ​ | Held to Maturity
​ |  | ​ | ​ |  | Estimated |  | ​ | ​ |  | Estimated
​ | ​ | Amortized | ​ | Fair | ​ | Amortized | ​ | Fair
​ | ​ | Cost | ​ | Value | ​ | Cost | ​ | Value
Due in one year or less | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Due after one year through five years | ​ |  | 8,402 | ​ |  | 8,461 | ​ |  | 16 | ​ |  | 16
Due after five years through ten years | ​ |  | 78,950 | ​ |  | 79,291 | ​ |  | 8,590 | ​ |  | 8,400
Due after ten years | ​ |  | 180,160 | ​ |  | 181,101 | ​ |  | 30,619 | ​ |  | 30,248
Total | ​ | $ | 267,512 | ​ | $ | 268,853 | ​ | $ | 39,225 | ​ | $ | 38,664
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 |  | ​ | ​ |  | Estimated |  | ​ | ​ |  | Estimated |  | ​ | ​
​ | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized
June 30, 2021 | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for sale: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Municipal securities | ​ | $ | 12,971 | ​ | $ | (213) | ​ | $ | — | ​ | $ | — | ​ | $ | 12,971 | ​ | $ | (213)
Agency securities | ​ |  | 20,577 | ​ |  | (392) | ​ |  | — | ​ |  | — | ​ |  | 20,577 | ​ |  | (392)
Real estate mortgage investment conduits (1) | ​ |  | 38,492 | ​ |  | (411) | ​ |  | — | ​ |  | — | ​ |  | 38,492 | ​ |  | (411)
Residential mortgage-backed securities | ​ |  | 45,122 | ​ |  | (349) | ​ |  | — | ​ |  | — | ​ |  | 45,122 | ​ |  | (349)
Other mortgage-backed securities (2) | ​ |  | 3,028 | ​ |  | (5) | ​ |  | 1,993 | ​ |  | (44) | ​ |  | 5,021 | ​ |  | (49)
Total available for sale | ​ | $ | 120,190 | ​ | $ | (1,370) | ​ | $ | 1,993 | ​ | $ | (44) | ​ | $ | 122,183 | ​ | $ | (1,414)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held to maturity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal securities | ​ | $ | 6,511 | ​ | $ | (177) | ​ | $ | — | ​ | $ | — | ​ | $ | 6,511 | ​ | $ | (177)
Agency securities | ​ | ​ | 7,570 | ​ | ​ | (105) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 7,570 | ​ | ​ | (105)
Real estate mortgage investment conduits (3) | ​ | ​ | 8,991 | ​ | ​ | (77) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 8,991 | ​ | ​ | (77)
Residential mortgage-backed securities (4) | ​ | ​ | 5,895 | ​ | ​ | (75) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5,895 | ​ | ​ | (75)
Other mortgage-backed securities | ​ | ​ | 5,945 | ​ | ​ | (163) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5,945 | ​ | ​ | (163)
Total held to maturity | ​ | $ | 34,912 | ​ | $ | (597) | ​ | $ | — | ​ | $ | — | ​ | $ | 34,912 | ​ | $ | (597)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
March 31, 2021 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Municipal securities | ​ | $ | 17,529 | ​ | $ | (555) | ​ | $ | — | ​ | $ | — | ​ | $ | 17,529 | ​ | $ | (555)
Agency securities | ​ | ​ | 23,306 | ​ | ​ | (686) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 23,306 | ​ | ​ | (686)
Real estate mortgage investment conduits (1) | ​ |  | 25,462 | ​ | ​ | (480) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 25,462 | ​ | ​ | (480)
Residential mortgage-backed securities | ​ |  | 33,164 | ​ |  | (614) | ​ |  | — | ​ | ​ | — | ​ | ​ | 33,164 | ​ |  | (614)
Other mortgage-backed securities (2) | ​ |  | 5,856 | ​ | ​ | (125) | ​ | ​ | 2,225 | ​ | ​ | (51) | ​ | ​ | 8,081 | ​ | ​ | (176)
Total available for sale | ​ | $ | 105,317 | ​ | $ | (2,460) | ​ | $ | 2,225 | ​ | $ | (51) | ​ | $ | 107,542 | ​ | $ | (2,511)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held to maturity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal securities | ​ | $ | 9,882 | ​ | $ | (509) | ​ | $ | — | ​ | $ | — | ​ | $ | 9,882 | ​ | $ | (509)
Agency securities | ​ | ​ | 7,468 | ​ | ​ | (220) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 7,468 | ​ | ​ | (220)
Real estate mortgage investment conduits (3) | ​ | ​ | 9,066 | ​ | ​ | (141) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 9,066 | ​ | ​ | (141)
Residential mortgage-backed securities (4) | ​ | ​ | 6,035 | ​ | ​ | (119) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 6,035 | ​ | ​ | (119)
Other mortgage-backed securities | ​ | ​ | 5,748 | ​ | ​ | (365) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5,748 | ​ | ​ | (365)
Total held to maturity | ​ | $ | 38,199 | ​ | $ | (1,354) | ​ | $ | — | ​ | $ | — | ​ | $ | 38,199 | ​ | $ | (1,354)
(1) | Comprised of FHLMC, FNMA and GNMA issued securities.
(2) | Comprised of SBA issued securities.
(3) | Comprised of FNMA issued securities.
(4) | Comprised of FHLMC and FNMA issued securities.
​

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- Definition Schedule (table) showing the fair value of temporarily impaired securities, the amount of unrealized losses and the length of time these unrealized losses existed, as of the dates indicated. + References No definition available. + Details
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