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FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended
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Sep. 30, 2022
FAIR VALUE MEASUREMENTS |
Schedule of assets that are measured at estimated fair value on a recurring basis | The following tables present assets that are measured at estimated fair value on a recurring basis at the dates indicated (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Total Estimated | ​ | Estimated Fair Value Measurements Using
September 30, 2022 |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities available for sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Municipal securities | ​ | $ | 37,912 | ​ | $ | — | ​ | $ | 37,912 | ​ | $ | —
Agency securities | ​ |  | 86,228 | ​ |  | — | ​ |  | 86,228 | ​ |  | —
Real estate mortgage investment conduits | ​ |  | 29,946 | ​ |  | — | ​ |  | 29,946 | ​ |  | —
Residential mortgage-backed securities | ​ |  | 16,802 | ​ |  | — | ​ |  | 16,802 | ​ |  | —
Other mortgage-backed securities | ​ |  | 42,820 | ​ |  | — | ​ |  | 42,820 | ​ |  | —
Total assets measured at fair value on a recurring basis | ​ | $ | 213,708 | ​ | $ | — | ​ | $ | 213,708 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Total Estimated |  | Estimated Fair Value Measurements Using
March 31, 2022 |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities available for sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Municipal securities | ​ | $ | 39,604 | ​ | $ | — | ​ | $ | 39,604 | ​ | $ | —
Agency securities | ​ |  | 40,705 | ​ |  | — | ​ |  | 40,705 | ​ |  | —
Real estate mortgage investment conduits | ​ |  | 32,717 | ​ |  | — | ​ |  | 32,717 | ​ |  | —
Residential mortgage-backed securities | ​ |  | 16,945 | ​ |  | — | ​ |  | 16,945 | ​ |  | —
Other mortgage-backed securities | ​ |  | 35,811 | ​ |  | — | ​ |  | 35,811 | ​ |  | —
Total assets measured at fair value on a recurring basis | ​ | $ | 165,782 | ​ | $ | — | ​ | $ | 165,782 | ​ | $ | —
Schedule of assets that are measured at estimated fair value on a nonrecurring basis | The following tables present assets that are measured at estimated fair value on a nonrecurring basis at the dates indicated (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Total | ​ | Estimated Fair Value
​ | ​ | Estimated | ​ | Measurements Using
September 30, 2022 |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Impaired loans | ​ | $ | 95 | ​ | $ | — | ​ | $ | — | ​ | $ | 95
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
March 31, 2022 | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired loans | ​ | $ | 228 | ​ | $ | — | ​ | $ | — | ​ | $ | 228
​
Schedule of quantitative information about Level 3 inputs for financial instruments measured at fair value on a nonrecurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Valuation |  | Significant Unobservable |  | ​
​ | ​ | Technique | ​ | Inputs | ​ | Range
​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired loans |  | Appraised value |  | Adjustment for market conditions |  | N/A (1)
​ | ​ | Discounted cash flows | ​ | Discount rate | ​ | 5.375% - 8.000%
(1) | There were no adjustments to appraised values of impaired loans as of September 30, 2022 and March 31, 2022.
Schedule of carrying amount and estimated fair value of financial instruments | The carrying amount and estimated fair value of financial instruments is as follows at the dates indicated (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Estimated
September 30, 2022 | ​ | Amount |  | Level 1 | ​ | Level 2 | ​ | Level 3 |  | Fair Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets: |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Cash and cash equivalents | ​ | $ | 114,183 | ​ | $ | 114,183 | ​ | $ | — | ​ | $ | — | ​ | $ | 114,183
Certificates of deposit held for investment | ​ |  | 249 | ​ |  | — | ​ |  | 247 | ​ |  | — | ​ |  | 247
Investment securities available for sale | ​ |  | 213,708 | ​ |  | — | ​ |  | 213,708 | ​ |  | — | ​ |  | 213,708
Investment securities held to maturity | ​ |  | 251,016 | ​ |  | — | ​ |  | 211,491 | ​ |  | — | ​ |  | 211,491
Loans receivable, net | ​ |  | 996,456 | ​ |  | — | ​ |  | — | ​ |  | 983,203 | ​ |  | 983,203
FHLB stock | ​ |  | 2,019 | ​ |  | — | ​ |  | 2,019 | ​ |  | — | ​ |  | 2,019
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Certificates of deposit | ​ |  | 96,851 | ​ |  | — | ​ |  | 93,487 | ​ |  | — | ​ |  | 93,487
Junior subordinated debentures | ​ |  | 26,875 | ​ |  | — | ​ |  | — | ​ |  | 18,518 | ​ |  | 18,518
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Estimated
March 31, 2022 | ​ | Amount | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Fair Value
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 241,424 | ​ | $ | 241,424 | ​ | $ | — | ​ | $ | — | ​ | $ | 241,424
Certificates of deposit held for investment | ​ |  | 249 | ​ |  | — | ​ |  | 253 | ​ |  | — | ​ |  | 253
Investment securities available for sale | ​ |  | 165,782 | ​ |  | — | ​ |  | 165,782 | ​ |  | — | ​ |  | 165,782
Investment securities held to maturity | ​ |  | 253,100 | ​ |  | — | ​ |  | 236,029 | ​ |  | — | ​ |  | 236,029
Loans receivable, net | ​ |  | 975,885 | ​ |  | — | ​ |  | — | ​ |  | 962,893 | ​ |  | 962,893
FHLB stock | ​ |  | 2,019 | ​ |  | — | ​ |  | 2,019 | ​ |  | — | ​ |  | 2,019
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  |
Certificates of deposit | ​ |  | 111,372 | ​ |  | — | ​ |  | 109,860 | ​ |  | — | ​ |  | 109,860
Junior subordinated debentures | ​ |  | 26,833 | ​ |  | — | ​ |  | — | ​ |  | 16,046 | ​ |  | 16,046

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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). + References No definition available. + Details
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- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition 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 https://asc.fasb.org/extlink&oid=123596393&loc=d3e14210-108612 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14172-108612 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 32 -URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14217-108612 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612 + Details
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- Definition 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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