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INVESTMENT SECURITIES (Tables) | 9 Months Ended
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Dec. 31, 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
December 31, 2024 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Available for sale: |  | ​ | ​ |  | ​ |  |  | ​ |  |  | ​ |
Municipal securities | ​ | $ | 37,329 | ​ | $ | 1 | ​ | $ | (6,794) | ​ | $ | 30,536
Agency securities | ​ |  | 38,937 | ​ | ​ | — | ​ | ​ | (3,352) | ​ | ​ | 35,585
Real estate mortgage investment conduits (1) | ​ |  | 29,261 | ​ | ​ | — | ​ | ​ | (5,658) | ​ | ​ | 23,603
Residential mortgage-backed securities (1) | ​ |  | 11,422 | ​ | ​ | 12 | ​ | ​ | (751) | ​ | ​ | 10,683
Other mortgage-backed securities (2) | ​ |  | 27,865 | ​ | ​ | 4 | ​ | ​ | (3,402) | ​ | ​ | 24,467
Total available for sale | ​ | $ | 144,814 | ​ | $ | 17 | ​ | $ | (19,957) | ​ | $ | 124,874
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held to maturity: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal securities | ​ | $ | 10,302 | ​ | $ | — | ​ | $ | (2,945) | ​ | $ | 7,357
Agency securities | ​ | ​ | 48,253 | ​ | ​ | — | ​ | ​ | (3,368) | ​ | ​ | 44,885
Real estate mortgage investment conduits (1) | ​ | ​ | 29,249 | ​ | ​ | — | ​ | ​ | (4,786) | ​ | ​ | 24,463
Residential mortgage-backed securities (1) | ​ | ​ | 104,314 | ​ | ​ | — | ​ | ​ | (17,686) | ​ | ​ | 86,628
Other mortgage-backed securities (3) | ​ | ​ | 20,177 | ​ | ​ | — | ​ | ​ | (3,036) | ​ | ​ | 17,141
Total held to maturity | ​ | $ | 212,295 | ​ | $ | — | ​ | $ | (31,821) | ​ | $ | 180,474
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | 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 December 31, 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 | ​ | $ | 6,263 | ​ | $ | 6,255 | ​ | $ | 14,995 | ​ | $ | 14,841
Due after one year through five years | ​ |  | 44,284 | ​ |  | 40,044 | ​ |  | 30,353 | ​ |  | 28,149
Due after five years through ten years | ​ |  | 34,347 | ​ |  | 29,492 | ​ |  | 21,274 | ​ |  | 18,007
Due after ten years | ​ |  | 59,920 | ​ |  | 49,083 | ​ |  | 145,673 | ​ |  | 119,477
Total | ​ | $ | 144,814 | ​ | $ | 124,874 | ​ | $ | 212,295 | ​ | $ | 180,474
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
December 31, 2024 | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for sale: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Municipal securities | ​ | $ | — | ​ | $ | — | ​ | $ | 29,365 | ​ | $ | (6,794) | ​ | $ | 29,365 | ​ | $ | (6,794)
Agency securities | ​ |  | — | ​ |  | — | ​ |  | 35,585 | ​ |  | (3,352) | ​ |  | 35,585 | ​ |  | (3,352)
Real estate mortgage investment conduits (1) | ​ |  | — | ​ |  | — | ​ |  | 23,603 | ​ |  | (5,658) | ​ |  | 23,603 | ​ |  | (5,658)
Residential mortgage-backed securities (1) | ​ |  | — | ​ |  | — | ​ |  | 10,005 | ​ |  | (751) | ​ |  | 10,005 | ​ |  | (751)
Other mortgage-backed securities (2) | ​ |  | 470 | ​ |  | (3) | ​ |  | 23,729 | ​ |  | (3,399) | ​ |  | 24,199 | ​ |  | (3,402)
Total available for sale | ​ | $ | 470 | ​ | $ | (3) | ​ | $ | 122,287 | ​ | $ | (19,954) | ​ | $ | 122,757 | ​ | $ | (19,957)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held to maturity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal securities | ​ | $ | — | ​ | $ | — | ​ | $ | 7,357 | ​ | $ | (2,945) | ​ | $ | 7,357 | ​ | $ | (2,945)
Agency securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 44,885 | ​ | ​ | (3,368) | ​ | ​ | 44,885 | ​ | ​ | (3,368)
Real estate mortgage investment conduits (1) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 24,463 | ​ | ​ | (4,786) | ​ | ​ | 24,463 | ​ | ​ | (4,786)
Residential mortgage-backed securities (1) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 86,628 | ​ | ​ | (17,686) | ​ | ​ | 86,628 | ​ | ​ | (17,686)
Other mortgage-backed securities (3) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 17,141 | ​ | ​ | (3,036) | ​ | ​ | 17,141 | ​ | ​ | (3,036)
Total held to maturity | ​ | $ | — | ​ | $ | — | ​ | $ | 180,474 | ​ | $ | (31,821) | ​ | $ | 180,474 | ​ | $ | (31,821)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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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