ALLOWANCE FOR LOAN LOSSES (Tables)

12 Months Ended

Mar. 31, 2022

Schedule of reconciliation of the allowance for loan losses

The following tables present a reconciliation of the allowance for loan losses for the periods indicated (in thousands):


	Commercial		Commercial				Multi-		Real Estate
March 31, 2022	Business		Real Estate		Land		Family		Construction		Consumer		Unallocated		Total

Beginning balance	$	2,416	$	14,089	$	233	$	638	$	294	$	852	$	656	$	19,178
Provision for (recapture of) loan losses		75		(5,052)		(65)		207		99		52		59		(4,625)
Charge-offs		(69)		—		—		—		—		(17)		—		(86)
Recoveries		—		—		—		—		—		56		—		56
Ending balance	$	2,422	$	9,037	$	168	$	845	$	393	$	943	$	715	$	14,523


March 31, 2021

Beginning balance	$	2,008	$	6,421	$	230	$	854	$	1,149	$	1,363	$	599	$	12,624
Provision for (recapture of) loan losses		398		7,336		3		(216)		(855)		(423)		57		6,300
Charge-offs		—		—		—		—		—		(124)		—		(124)
Recoveries		10		332		—		—		—		36		—		378
Ending balance	$	2,416	$	14,089	$	233	$	638	$	294	$	852	$	656	$	19,178


March 31, 2020

Beginning balance	$	1,808	$	5,053	$	254	$	728	$	1,457	$	1,447	$	710	$	11,457
Provision for (recapture of) loan losses		264		1,368		(24)		126		(308)		(65)		(111)		1,250
Charge-offs		(64)		—		—		—		—		(82)		—		(146)
Recoveries		—		—		—		—		—		63		—		63
Ending balance	$	2,008	$	6,421	$	230	$	854	$	1,149	$	1,363	$	599	$	12,624

Schedule of impaired financing receivables

The following tables present an analysis of loans receivable and the allowance for loan losses, based on impairment methodology, at the dates indicated (in thousands):


	Allowance for Loan Losses						Recorded Investment in Loans
	Individually		Collectively				Individually		Collectively
	Evaluated		Evaluated				Evaluated		Evaluated
	for		for				for		for
March 31, 2022	Impairment		Impairment		Total		Impairment		Impairment		Total

Commercial business	$	—	$	2,422	$	2,422	$	100	$	227,991	$	228,091
Commercial real estate		—		9,037		9,037		122		582,715		582,837
Land		—		168		168		—		11,556		11,556
Multi-family		—		845		845		—		60,211		60,211
Real estate construction		—		393		393		—		24,160		24,160
Consumer		8		935		943		495		83,058		83,553
Unallocated		—		715		715		—		—		—
Total	$	8	$	14,515	$	14,523	$	717	$	989,691	$	990,408

March 31, 2021

Commercial business	$	—	$	2,416	$	2,416	$	120	$	265,025	$	265,145
Commercial real estate		—		14,089		14,089		1,468		541,999		543,467
Land		—		233		233		710		13,330		14,040
Multi-family		—		638		638		753		44,261		45,014
Real estate construction		—		294		294		—		16,990		16,990
Consumer		11		841		852		530		58,049		58,579
Unallocated		—		656		656		—		—		—
Total	$	11	$	19,167	$	19,178	$	3,581	$	939,654	$	943,235

Schedule of changes in the allowance for unfunded loan commitments

Changes in the allowance for unfunded loan commitments were as follows for the years indicated (in thousands):


	Year Ended March 31,
	2022		2021		2020
Beginning balance	$	509	$	474	$	469
Net change in allowance for unfunded loan commitments		(85)		35		5
Ending balance	$	424	$	509	$	474

Schedule of analysis of loans by aging category

The following tables present an analysis of loans by aging category at the dates indicated (in thousands):


							Total
			90 Days				Past
			and				Due and				Total
	30-89 Days		Greater				Non-				Loans
March 31, 2022	Past Due		Past Due		Non-accrual		accrual		Current		Receivable

Commercial business	$	7,753	$	21,808	$	118	$	29,679	$	198,412	$	228,091
Commercial real estate		—		—		122		122		582,715		582,837
Land		—		—		—		—		11,556		11,556
Multi-family		—		—		—		—		60,211		60,211
Real estate construction		291		—		—		291		23,869		24,160
Consumer		9		—		51		60		83,493		83,553
Total	$	8,053	$	21,808	$	291	$	30,152	$	960,256	$	990,408

March 31, 2021

Commercial business	$	98	$	175	$	182	$	455	$	264,690	$	265,145
Commercial real estate		—		—		144		144		543,323		543,467
Land		—		—		—		—		14,040		14,040
Multi-family		—		—		—		—		45,014		45,014
Real estate construction		—		—		—		—		16,990		16,990
Consumer		143		1		69		213		58,366		58,579
Total	$	241	$	176	$	395	$	812	$	942,423	$	943,235

Schedule of credit quality indicators

The following tables present an analysis of loans by credit quality indicators at the dates indicated (in thousands):


											Total
			Special								Loans
March 31, 2022	Pass		Mention		Substandard		Doubtful		Loss		Receivable

Commercial business	$	227,435	$	511	$	145	$	—	$	—	$	228,091
Commercial real estate		569,417		7,211		6,209		—		—		582,837
Land		11,556		—		—		—		—		11,556
Multi-family		60,138		73		—		—		—		60,211
Real estate construction		24,160		—		—		—		—		24,160
Consumer		83,502		—		51		—		—		83,553
Total	$	976,208	$	7,795	$	6,405	$	—	$	—	$	990,408

March 31, 2021

Commercial business	$	264,564	$	399	$	182	$	—	$	—	$	265,145
Commercial real estate		494,010		42,045		7,412		—		—		543,467
Land		14,040		—		—		—		—		14,040
Multi-family		44,941		49		24		—		—		45,014
Real estate construction		16,990		—		—		—		—		16,990
Consumer		58,510		—		69		—		—		58,579
Total	$	893,055	$	42,493	$	7,687	$	—	$	—	$	943,235

Schedule of total and average recorded investment in impaired loans


	Recorded		Recorded
	Investment		Investment
	with		with						Related
	No Specific		Specific		Total		Unpaid		Specific
	Valuation		Valuation		Recorded		Principal		Valuation
March 31, 2022	Allowance		Allowance		Investment		Balance		Allowance

Commercial business	$	100	$	—	$	100	$	143	$	—
Commercial real estate		122		—		122		178		—
Land		—		—		—		—		—
Multi-family		—		—		—		—		—
Consumer		259		236		495		603		8
Total	$	481	$	236	$	717	$	924	$	8

March 31, 2021

Commercial business	$	120	$	—	$	120	$	157	$	—
Commercial real estate		1,468		—		1,468		1,556		—
Land		710		—		710		740		—
Multi-family		753		—		753		856		—
Consumer		278		252		530		643		11
Total	$	3,329	$	252	$	3,581	$	3,952	$	11


	Year ended				Year ended				Year ended
	March 31, 2022				March 31, 2021				March 31, 2020
			Interest				Interest				Interest
			Recognized				Recognized				Recognized
	Average		on		Average		on		Average		on
	Recorded		Impaired		Recorded		Impaired		Recorded		Impaired
	Investment		Loans		Investment		Loans		Investment		Loans

Commercial business	$	110	$	—	$	130	$	—	$	150	$	62
Commercial real estate		660		16		2,008		61		2,420		40
Land		—		—		713		40		720		90
Multi-family		—		—		1,313		77		1,573		—
Consumer		514		24		494		29		494		29
Total	$	1,284	$	40	$	4,658	$	207	$	5,357	$	221

Schedule of TDRs by interest accrual status

The following table presents TDRs by interest accrual status at the dates indicated (in thousands):


	March 31, 2022						March 31, 2021
	Accrual		Nonaccrual		Total		Accrual		Nonaccrual		Total

Commercial business	$	—	$	100	$	100	$	—	$	120	$	120
Commercial real estate		—		122		122		1,324		144		1,468
Land		—		—		—		710		—		710
Multi-family		—		—		—		753		—		753
Consumer		495		—		495		530		—		530
Total	$	495	$	222	$	717	$	3,317	$	264	$	3,581