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Investment Securities (Tables)

6 Months Ended

Sep. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Summary of Investment Securities Available for Sale and Held to Maturity

The following is a summary of investment securities at September 30, 2025 and March 31, 2025:


		September 30, 2025
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
Securities available-for-sale		(Dollars in thousands)
FHLMC bonds		$	23,604			$	166			$	(1,389	)		$	22,381
GNMA bonds			4,746				43				—				4,789
FNMA bonds			26,230				315				(1,543	)			25,002
Municipal bonds			8,621				—				(1,123	)			7,498
Total securities available-for-sale		$	63,201			$	524			$	(4,055	)		$	59,670

Securities held-to-maturity
FHLMC bonds		$	58			$	1			$	—			$	59
GNMA bonds			38				1				—				39
FNMA bonds			96				2				—				98
Total securities held-to-maturity		$	192			$	4			$	—			$	196


(dollars in thousands)		March 31, 2025
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
Securities available-for-sale		(Dollars in thousands)
FHLMC bonds		$	23,085			$	107			$	(1,726	)		$	21,466
GNMA bonds			5,035				34				(2	)			5,067
FNMA bonds			27,237				224				(1,871	)			25,590
Municipal bonds			8,622				—				(1,376	)			7,246
Total securities available-for-sale		$	63,979			$	365			$	(4,975	)		$	59,369

Securities held-to-maturity
FHLMC bonds		$	64			$	2			$	—			$	66
GNMA bonds			46				—				—				46
FNMA bonds			112				2				—				114
Total securities held-to-maturity		$	222			$	4			$	—			$	226

Summary of Debt Securities Available for Sale and Unrealized Loss Position

The fair value and gross unrealized losses on the Association’s available-for-sale investment securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2025 and March 31, 2025, are as follows:


		Less than 12 Months								12 Months or Longer								Total
		Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
September 30, 2025		Value				Losses				Value				Losses				Value				Losses
Securities available-for-sale		(Dollars in thousands)
FHLMC bonds		$	1,792			$	(6	)		$	12,310			$	(1,383	)		$	14,102			$	(1,389	)
FNMA bonds			874				(3	)			11,746				(1,540	)			12,620				(1,543	)
Municipal bonds			—				—				7,498				(1,123	)			7,498				(1,123	)
Total securities available-for-sale		$	2,666			$	(9	)		$	31,554			$	(4,046	)		$	34,220			$	(4,055	)

		Less than 12 Months								12 Months or Longer								Total
		Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
March 31, 2025		Value				Losses				Value				Losses				Value				Losses
Securities available-for-sale		(Dollars in thousands)
FHLMC bonds		$	2,919			$	(39	)		$	12,978			$	(1,687	)		$	15,897			$	(1,726	)
GNMA bonds			105				(1	)			1,154				(1	)			1,259				(2	)
FNMA bonds			3,004				(24	)			12,315				(1,847	)			15,319				(1,871	)
Municipal bonds			—				—				7,246				(1,376	)			7,246				(1,376	)
Total securities available-for-sale		$	6,028			$	(64	)		$	33,693			$	(4,911	)		$	39,721			$	(4,975	)

Schedule of Amortized Cost and Fair Value of Available for sale Investment Securities by Contractual Maturity

The amortized cost and fair values of available for sale investment securities as of September 30, 2025 by contractual maturity, are shown below:


		Available for Sale
		Amortized Cost				Fair Value
Maturity		(Dollars in thousands)
Due less than one year		$	—			$	—
Due after one year through five years			3,012				2,932
Due after five years through ten years			2,602				2,195
Due after ten years			3,007				2,371
Mortgage-backed securities and collateralized mortgage obligations			54,580				52,172
Total		$	63,201			$	59,670