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Stock Based Compensation (Tables)
6 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Shares Held by the ESOP

Shares held by the ESOP were as follows:

 

 

 

As of September 30,

 

 

 

2025

 

 

2024

 

 

 

(Dollars in thousands)

 

Shares allocated

 

 

36,354

 

 

 

23,136

 

Unallocated

 

 

294,111

 

 

 

307,329

 

Total ESOP shares

 

 

330,465

 

 

 

330,465

 

Fair value of unearned shares as of September 30, 2025 and 2024, respectively

 

$

4,794

 

 

$

3,860

 

Summary of Stock Option Activity

The following is a summary of the Company's stock option activity and related information for the periods presented. There was no stock option activity for the three- and six-months ended September 30, 2024.

 

 

Stock Option

 

Shares

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Term (in years)

 

 

Aggregate Intrinsic Value

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

Options, outstanding at June 30, 2025

 

 

323,924

 

 

$

14.63

 

 

 

9.5

 

 

$

159

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Vested

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Options, outstanding at September 30, 2025

 

 

323,924

 

 

$

14.63

 

 

 

9.3

 

 

 

541

 

Exercisable - End of Period

 

 

 

 

 

 

 

 

 

 

$

 

 

Stock Option

 

Shares

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Term (in years)

 

 

Aggregate Intrinsic Value

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

Options, outstanding at March 31, 2025

 

 

308,924

 

 

$

14.63

 

 

 

9.7

 

 

$

88

 

Granted, May 27, 2025

 

 

15,000

 

 

 

14.61

 

 

 

9.9

 

 

 

8

 

Vested

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Options, outstanding at September 30, 2025

 

 

323,924

 

 

$

14.63

 

 

 

9.3

 

 

 

541

 

Exercisable - End of Period

 

 

 

 

 

 

 

 

 

 

$

 

Summary of Restricted shares

The following is a summary of the status of the Company's restricted shares as of and for the periods presented.

 

Restricted Stock

 

Shares

 

 

Weighted Average Exercise Price

 

 

 

 

 

 

Nonvested balance as of June 30, 2025

 

 

138,066

 

 

$

14.64

 

Granted

 

 

 

 

 

 

Vested

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

Nonvested balance as of September 30, 2025

 

 

138,066

 

 

$

14.64

 

 

Restricted Stock

 

Shares

 

 

Weighted Average Exercise Price

 

 

 

 

 

 

Nonvested balance as of March 31, 2025

 

 

129,066

 

 

$

14.64

 

Granted, May 27, 2025

 

 

9,000

 

 

 

14.61

 

Vested

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

Nonvested balance as of September 30, 2025

 

 

138,066

 

 

$

14.64

 

Summary of Stock Based Compensation Expense

The following table presents the stock based compensation expense for the periods presented.

 

 

 

For the Three Months Ended September 30,

 

 

For the Six Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(Dollars in thousands)

 

 

(Dollars in thousands)

 

Stock option expense

 

$

91

 

 

$

 

 

$

179

 

 

$

 

Restricted stock expense

 

 

100

 

 

 

 

 

 

197

 

 

 

 

   Total stock based compensation expense

 

$

191

 

 

$

 

 

$

376

 

 

$