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INVESTMENT SECURITIES (Tables) | 6 Months Ended
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Sep. 30, 2024
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
September 30, 2024 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Available for sale: |  | ​ | ​ |  | ​ |  |  | ​ |  |  | ​ |
Municipal securities | ​ | $ | 37,377 | ​ | $ | 2 | ​ | $ | (5,487) | ​ | $ | 31,892
Agency securities | ​ |  | 41,910 | ​ | ​ | — | ​ | ​ | (2,929) | ​ | ​ | 38,981
Real estate mortgage investment conduits (1) | ​ |  | 29,973 | ​ | ​ | — | ​ | ​ | (4,929) | ​ | ​ | 25,044
Residential mortgage-backed securities (1) | ​ |  | 12,092 | ​ | ​ | 12 | ​ | ​ | (570) | ​ | ​ | 11,534
Other mortgage-backed securities (2) | ​ |  | 28,277 | ​ | ​ | 4 | ​ | ​ | (2,779) | ​ | ​ | 25,502
Total available for sale | ​ | $ | 149,629 | ​ | $ | 18 | ​ | $ | (16,694) | ​ | $ | 132,953
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held to maturity: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal securities | ​ | $ | 10,308 | ​ | $ | — | ​ | $ | (2,463) | ​ | $ | 7,845
Agency securities | ​ | ​ | 54,216 | ​ | ​ | — | ​ | ​ | (2,932) | ​ | ​ | 51,284
Real estate mortgage investment conduits (1) | ​ | ​ | 30,008 | ​ | ​ | — | ​ | ​ | (4,150) | ​ | ​ | 25,858
Residential mortgage-backed securities (1) | ​ | ​ | 107,039 | ​ | ​ | — | ​ | ​ | (14,006) | ​ | ​ | 93,033
Other mortgage-backed securities (3) | ​ | ​ | 20,420 | ​ | ​ | — | ​ | ​ | (2,571) | ​ | ​ | 17,849
Total held to maturity | ​ | $ | 221,991 | ​ | $ | — | ​ | $ | (26,122) | ​ | $ | 195,869
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Gross |  | Gross |  | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Estimated
​ | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Fair Value
March 31, 2024 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Available for sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Municipal securities | ​ | $ | 41,657 | ​ | $ | 20 | ​ | $ | (6,541) | ​ | $ | 35,136
Agency securities | ​ |  | 47,818 | ​ | ​ | — | ​ | ​ | (4,241) | ​ | ​ | 43,577
Real estate mortgage investment conduits (1) | ​ |  | 31,424 | ​ | ​ | — | ​ | ​ | (5,759) | ​ | ​ | 25,665
Residential mortgage-backed securities (1) | ​ |  | 13,519 | ​ | ​ | 3 | ​ | ​ | (971) | ​ | ​ | 12,551
Other mortgage-backed securities (2) | ​ |  | 29,998 | ​ | ​ | 3 | ​ | ​ | (3,734) | ​ | ​ | 26,267
Total available for sale | ​ | $ | 164,416 | ​ | $ | 26 | ​ | $ | (21,246) | ​ | $ | 143,196
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held to maturity: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal securities | ​ | $ | 10,321 | ​ | $ | — | ​ | $ | (2,789) | ​ | $ | 7,532
Agency securities | ​ | ​ | 54,123 | ​ | ​ | — | ​ | ​ | (4,522) | ​ | ​ | 49,601
Real estate mortgage investment conduits (1) | ​ | ​ | 31,752 | ​ | ​ | — | ​ | ​ | (5,171) | ​ | ​ | 26,581
Residential mortgage-backed securities (1) | ​ | ​ | 112,834 | ​ | ​ | — | ​ | ​ | (18,196) | ​ | ​ | 94,638
Other mortgage-backed securities (3) | ​ | ​ | 20,480 | ​ | ​ | — | ​ | ​ | (3,313) | ​ | ​ | 17,167
Total held to maturity | ​ | $ | 229,510 | ​ | $ | — | ​ | $ | (33,991) | ​ | $ | 195,519
​
(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 and FHLMC.
(3) | Comprised of FHLMC and FNMA issued securities.
Schedule of contractual maturities of investment securities | The contractual maturities of investment securities as of September 30, 2024 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 | ​ | $ | 9,241 | ​ | $ | 9,209 | ​ | $ | 15,179 | ​ | $ | 15,057
Due after one year through five years | ​ |  | 42,371 | ​ |  | 38,902 | ​ |  | 36,264 | ​ |  | 34,231
Due after five years through ten years | ​ |  | 36,521 | ​ |  | 32,394 | ​ |  | 20,047 | ​ |  | 17,375
Due after ten years | ​ |  | 61,496 | ​ |  | 52,448 | ​ |  | 150,501 | ​ |  | 129,206
Total | ​ | $ | 149,629 | ​ | $ | 132,953 | ​ | $ | 221,991 | ​ | $ | 195,869
Schedule of fair value for securities available-for-sale and held to maturity and unrealized losses | The gross unrealized losses and the fair value of securities available-for-sale and held to maturity aggregated by the length of time that individual securities have been in a continuous unrealized loss position were 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
September 30, 2024 | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for sale: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Municipal securities | ​ | $ | — | ​ | $ | — | ​ | $ | 30,720 | ​ | $ | (5,487) | ​ | $ | 30,720 | ​ | $ | (5,487)
Agency securities | ​ |  | — | ​ |  | — | ​ |  | 38,981 | ​ |  | (2,929) | ​ |  | 38,981 | ​ |  | (2,929)
Real estate mortgage investment conduits (1) | ​ |  | — | ​ |  | — | ​ |  | 25,044 | ​ |  | (4,929) | ​ |  | 25,044 | ​ |  | (4,929)
Residential mortgage-backed securities (1) | ​ |  | — | ​ |  | — | ​ |  | 10,778 | ​ |  | (570) | ​ |  | 10,778 | ​ |  | (570)
Other mortgage-backed securities (2) | ​ |  | 476 | ​ |  | — | ​ |  | 24,754 | ​ |  | (2,779) | ​ |  | 25,230 | ​ |  | (2,779)
Total available for sale | ​ | $ | 476 | ​ | $ | — | ​ | $ | 130,277 | ​ | $ | (16,694) | ​ | $ | 130,753 | ​ | $ | (16,694)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held to maturity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal securities | ​ | $ | — | ​ | $ | — | ​ | $ | 7,845 | ​ | $ | (2,463) | ​ | $ | 7,845 | ​ | $ | (2,463)
Agency securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 51,284 | ​ |  | (2,932) | ​ | ​ | 51,284 | ​ | ​ | (2,932)
Real estate mortgage investment conduits (1) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 25,858 | ​ |  | (4,150) | ​ | ​ | 25,858 | ​ | ​ | (4,150)
Residential mortgage-backed securities (1) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 93,033 | ​ |  | (14,006) | ​ | ​ | 93,033 | ​ | ​ | (14,006)
Other mortgage-backed securities (3) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 17,849 | ​ |  | (2,571) | ​ | ​ | 17,849 | ​ | ​ | (2,571)
Total held to maturity | ​ | $ | — | ​ | $ | — | ​ | $ | 195,869 | ​ | $ | (26,122) | ​ | $ | 195,869 | ​ | $ | (26,122)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
March 31, 2024 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Municipal securities | ​ | $ | — | ​ | $ | — | ​ | $ | 32,748 | ​ | $ | (6,541) | ​ | $ | 32,748 | ​ | $ | (6,541)
Agency securities | ​ | ​ | — | ​ |  | — | ​ |  | 43,577 | ​ |  | (4,241) | ​ |  | 43,577 | ​ |  | (4,241)
Real estate mortgage investment conduits (1) | ​ |  | — | ​ |  | — | ​ |  | 25,665 | ​ |  | (5,759) | ​ |  | 25,665 | ​ |  | (5,759)
Residential mortgage-backed securities (1) | ​ |  | — | ​ |  | — | ​ |  | 12,073 | ​ |  | (971) | ​ |  | 12,073 | ​ |  | (971)
Other mortgage-backed securities (2) | ​ |  | 534 | ​ |  | (1) | ​ |  | 25,403 | ​ |  | (3,733) | ​ |  | 25,937 | ​ |  | (3,734)
Total available for sale | ​ | $ | 534 | ​ | $ | (1) | ​ | $ | 139,466 | ​ | $ | (21,245) | ​ | $ | 140,000 | ​ | $ | (21,246)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held to maturity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal securities | ​ | $ | — | ​ | $ | — | ​ | $ | 7,532 | ​ | $ | (2,789) | ​ | $ | 7,532 | ​ | $ | (2,789)
Agency securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 49,601 | ​ | ​ | (4,522) | ​ | ​ | 49,601 | ​ | ​ | (4,522)
Real estate mortgage investment conduits (1) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 26,581 | ​ | ​ | (5,171) | ​ | ​ | 26,581 | ​ | ​ | (5,171)
Residential mortgage-backed securities (1) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 94,638 | ​ | ​ | (18,196) | ​ | ​ | 94,638 | ​ | ​ | (18,196)
Other mortgage-backed securities (3) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 17,167 | ​ | ​ | (3,313) | ​ | ​ | 17,167 | ​ | ​ | (3,313)
Total held to maturity | ​ | $ | — | ​ | $ | — | ​ | $ | 195,519 | ​ | $ | (33,991) | ​ | $ | 195,519 | ​ | $ | (33,991)
​
(1) | Comprised of FHLMC, FNMA and GNMA issued securities.
(2) | Comprised of SBA and CRE secured securities issued by FHLMC and FNMA.
(3) | Comprised of FHLMC and FNMA issued securities.

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