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Employee Benefit and Stock Compensation Plans (Notes) | 12 Months Ended
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Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Compensation and Employee Benefit Plans [Text Block] | EMPLOYEE BENEFIT AND STOCK COMPENSATION PLANS Directors' Retirement Plan. Concurrent with the conversion to the stock form of ownership, Carver Federal adopted a retirement plan for non-employee directors. The plan was curtailed during the fiscal year ended March 31, 2001. The benefits are payable based on the term of service as a director through the date of curtailment. As of March 31, 2016, there was no outstanding payable under this plan. Savings Incentive Plan. Carver has a savings incentive plan, pursuant to Section 401(k) of the Code, for all eligible employees of the Bank. The Bank matches contributions to the 401(k) Plan equal to 100% of pre-tax contributions made by each employee up to a maximum of 3% of their pay, subject to IRS limitations. All such matching contributions are fully vested and non-forfeitable at all times regardless of the years of service with the Bank. Under the profit-sharing feature, if the Bank achieves a minimum of 70% of its net income goal as mentioned previously, the Compensation Committee may authorize an annual non-elective contribution to the 401(k) Plan on behalf of each eligible employee up to 2% of the employee's annual pay, subject to IRS limitations. This non-elective contribution may be made regardless of whether the employee makes a contribution to the 401(k) Plan. Non-elective Bank contributions, if awarded, vest 20% each year for the first five years of employment and are fully vested thereafter. To be eligible for the matching contribution, the employee must be 21 years of age and have completed at least three months of service. To be eligible for the non-elective Carver contribution, the employee must also be employed as of the last day of the plan year. Management Recognition Plan (“MRP”). The MRP provided for grants of restricted stock to certain employees at September 12, 1995 adoption of the MRP. On March 28, 2005 the plan was amended for all future awards. The MRP provides for additional discretionary grants of restricted stock to those employees selected by the committee established to administer the MRP. Awards granted prior to March 28, 2005, generally vest in three to five equal annual installments commencing on the first anniversary date of the award, provided the recipient is still an employee of the Company or the Bank on such date. Under the amended plan, awards granted after March 28, 2005 vest based on a five-year performance-accelerated vesting schedule. Ten percent of the awarded shares vest in each of the first four years and the remainder in the fifth year but the Compensation Committee may accelerate vesting at any time. Awards will become 100% vested upon termination of service due to death or disability. When shares become vested and are distributed, the recipients will receive an amount equal to any accrued dividends with respect thereto. There are no shares available to grant under the MRP. Pursuant to the MRP, the Bank recognized $9 thousand and $10 thousand as expense for fiscal years 2016 and 2015, respectively. Stock Option Plans. During 1995, the Company adopted the 1995 Stock Option Plan (the “1995 Plan”) to advance the interests of the Bank through providing stock options to select key employees and directors of the Bank and its affiliates. The number of shares reserved for issuance under the plan was 22,591. The 1995 plan expired by its term and no new options may be granted under it, however, stock options granted under the 1995 Plan continue in accordance with their terms. At March 31, 2016, there were no options outstanding. Options are granted at the fair market value of Carver Federal common stock at the time of the grant for a period not to exceed ten years. Under the 1995 Plan option grants generally vest on an annual basis ratably over either three or five years, commencing after one year of service and, in some instances, portions of option grants vest at the time of the grant. On March 28, 2005, the plan was amended and vesting of future awards is based on a five-year performance-accelerated vesting schedule. Ten percent of the awarded options vest in each of the first four years and the remainder in the fifth year, but the Committee may accelerate vesting at any time. All options are exercisable immediately upon a participant's disability, death or a change in control, as defined in the Plan. In September 2006, Carver stockholders approved the 2006 Stock Incentive Plan (the "2006 Incentive Plan") which provides for the grant of stock options, stock appreciation rights and restricted stock to employees and directors who are selected to receive awards by the Committee. The 2006 Incentive Plan authorizes Carver to grant awards with respect to 20,000 shares, but no more than 10,000 shares of restricted stock may be granted. During Fiscal 16, there were 4,000 options and 4,000 restricted stock awards issued. Options are granted at a price not less than fair market value of Carver common stock at the time of the grant for a period not to exceed 10 years. Shares generally vest in 20% increments over 5 years, however, the Committee may specify a different vesting schedule. At March 31, 2016, there were 5,925 options outstanding under the 2006 Incentive Plan and 1,924 were exercisable. All options are exercisable immediately upon a participant's disability, death or a change in control, as defined in the 2006 Incentive Plan, if the person is employed on that date. In September 2014, Carver stockholders approved the Carver Bancorp, Inc. 2014 Equity Incentive Plan (the "2014 Incentive Plan") which provides for the grant of stock options, stock appreciation rights and restricted stock to executive officers and directors who are selected to receive awards by the Committee. The 2014 Incentive Plan authorizes Carver to grant awards with respect to 250,000 shares. All of the shares may be issued pursuant to stock options (all of which may be incentive stock options) or all of which may be issued pursuant to restricted stock awards or restricted stock units. Unless the Committee determines otherwise, the award agreements will specify that no award will vest more rapidly than 25% per year over a four-year period, with the first installment vesting one year after the date of grant, subject to acceleration upon the occurrence of specific events. All options are exercisable immediately upon a participant's disability, death or change in control, as defined in the 2014 Incentive Plan, if the person is employed on that date. Information regarding nonvested shares of restricted stock awards outstanding for the years ended March 31 is as follows:
| 2016 |  | 2015
| Shares |  | Weighted Average Grant Price |  | Shares |  | Weighted Average Grant Price
Outstanding, beginning of year | — |  |  | $ | — |  |  | 1,000 |  |  | 91.05 |
Granted | 4,000 |  |  | 5.56 |  |  | — |  |  | — |
Vested | — |  |  | — |  |  | (1,000 | ) |  | 91.05 |
Forfeited | — |  |  | — |  |  | — |  |  | — |
Outstanding, end of year | 4,000 |  |  | 5.56 |  |  | — |  |  | — |
Information regarding stock options as of and for the years ended March 31 is as follows:
| 2016 |  | 2015
| Options |  | Weighted Average Exercise Price |  | Options |  | Weighted Average Exercise Price
Outstanding, beginning of year | 3,029 |  |  | 246.18 |  |  | 4,029 |  |  | 258.16 |
Granted | 4,000 |  |  | 5.56 |  |  | — |  |  | — |
Exercised | — |  |  | — |  |  | — |  |  | — |
Expired/Forfeited | 1,105 |  |  | 258.30 |  |  | 1,000 |  |  | 294.45 |
Outstanding, end of year | 5,924 |  |  | 81.65 |  |  | 3,029 |  |  | 246.18 |
Exercisable, at year end | 1,924 |  |  |  |  | 3,002 |  |  |
Information regarding stock options as of and for the year ended March 31, 2016 is as follows :
|  |  | Options Outstanding |  | Options Exercisable
Range of Exercise Prices |  | Shares |  | Weighted Average Remaining Life |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price
$ | 5.00 |  | $ | 5.99 |  |  | 4,000 |  |  | 9.23 |  | $ | 5.56 |  |  | — |  |  | $ | — |
90.00 |  | 104.85 |  |  | 133 |  |  | 4.36 |  | 97.50 |  |  | 133 |  |  | 97.50 |
240.00 |  | 254.85 |  |  | 1,791 |  |  | 0.86 |  | 250.61 |  |  | 1,791 |  |  | 16.71 |
Total |  |  | 5,924 |  |  |  |  |  |  | 1,924 |  |  |
There were no stock options awarded to employees during the years ended March 31, 2016 and 2015. The four new outside directors who joined in fiscal year 2014 each received a grant of 1,000 options in fiscal 2016. These options vest over five years. The fair value of the option grants was estimated on the date of the grant using the Black-Scholes option pricing model applying the following weighted average assumptions for the years ended March 31:
| 2016 |  | 2015
Risk-free interest rate | 1.78 | % |  | N/A
Volatility | 10.00 | % |  | N/A
Annual dividends | — | % |  | N/A
Expected life of option grants | 9.24 |  | N/A
The Company recorded compensation expense of $2 thousand in fiscal 2016 and $2 thousand in fiscal 2015. Performance Compensation Plan. In 2006, Carver adopted the Performance Compensation Plan of Carver Bancorp, Inc. (the "Performance Compensation Plan"). This Performance Compensation Plan provides for cash payments to officers or employees designated by the Compensation Committee, which also determines the amount awarded to such participants. Vesting is generally 20% a year over 5 years and awards are fully vested on a change in control (as defined), or termination of employment by death or disability, but the Committee may accelerate vesting at any time. Payments are made as soon as practicable after the end of the fiscal year in which amounts vest. In fiscal year 2008, the Company granted its first awards under the new Performance Compensation Plan. No compensation expense was recognized in fiscal year 2016 or 2015.

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References No definition available. + Details
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