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Organization (Tables) | 12 Months Ended
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Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | All applicable amounts relating to this Restatement have been reflected in the consolidated financial statements and disclosed in the notes to the consolidated financial statements in this 2017 Form 10-K. See Note 19 – Quarterly Financial Data (Unaudited) for further details of the restatement adjustments for the quarterly periods of fiscal years 2016 and 2017. The following analysis includes the financial statements as originally reported and as adjusted and takes into account the following adjustments.
CONSOLIDATED STATEMENT OF FINANCIAL CONDITION
| March 31, 2016
$ in thousands except per share data | As Previously Reported |  | Adjustment |  | As Restated
ASSETS |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |
Cash and due from banks | $ | 63,156 |  |  | $ | (472 | ) |  | $ | 62,684 |
Money market investments | 504 |  |  | — |  |  | 504 |
Total cash and cash equivalents | 63,660 |  |  | (472 | ) |  | 63,188 |
Restricted cash | 225 |  |  | — |  |  | 225 |
Investment securities: |  |  |  |  |
Available-for-sale, at fair value | 56,180 |  |  | — |  |  | 56,180 |
Held-to-maturity, at amortized cost (fair value of $15,653 at March 31, 2016) | 15,311 |  |  | — |  |  | 15,311 |
Total investments | 71,491 |  |  | — |  |  | 71,491 |
Loans held-for-sale (HFS) | 2,495 |  |  | (59 | ) |  | 2,436 |
Loans receivable: |  |  |  |  |
Real estate mortgage loans | 517,785 |  |  | (152 | ) |  | 517,633 |
Commercial business loans | 71,192 |  |  | (239 | ) |  | 70,953 |
Consumer loans | 42 |  |  | — |  |  | 42 |
Loans, net | 589,019 |  |  | (391 | ) |  | 588,628 |
Allowance for loan losses | (5,232 | ) |  | — |  |  | (5,232 | )
Total loans receivable, net | 583,787 |  |  | (391 | ) |  | 583,396 |
Premises and equipment, net | 5,983 |  |  | — |  |  | 5,983 |
Federal Home Loan Bank of New York (“FHLB-NY”) stock, at cost | 2,883 |  |  | — |  |  | 2,883 |
Accrued interest receivable | 3,647 |  |  | (1,227 | ) |  | 2,420 |
Other assets | 7,557 |  |  | (525 | ) |  | 7,032 |
Total assets | $ | 741,728 |  |  | $ | (2,674 | ) |  | $ | 739,054 |
LIABILITIES AND EQUITY |  |  |  |  |
LIABILITIES |  |  |  |  |
Deposits: |  |  |  |  |
Savings | $ | 95,230 |  |  | $ | — |  |  | $ | 95,230 |
Non-interest bearing checking | 56,634 |  |  | — |  |  | 56,634 |
Interest-bearing checking | 33,106 |  |  | — |  |  | 33,106 |
Money market | 163,380 |  |  | — |  |  | 163,380 |
Certificates of deposit | 255,854 |  |  | — |  |  | 255,854 |
Mortgagors deposits | 2,537 |  |  | — |  |  | 2,537 |
Total deposits | 606,741 |  |  | — |  |  | 606,741 |
Advances from the FHLB-NY and other borrowed money | 68,403 |  |  | — |  |  | 68,403 |
Other liabilities | 12,369 |  |  | (339 | ) |  | 12,030 |
Total liabilities | 687,513 |  |  | (339 | ) |  | 687,174 |
EQUITY |  |  |  |  |
Preferred stock (par value $0.01 per share: 45,118 Series D shares, with a liquidation preference of $1,000 per share, issued and outstanding) | 45,118 |  |  | — |  |  | 45,118 |
Common stock (par value $0.01 per share: 10,000,000 shares authorized; 3,698,031 issued; 3,696,087 shares outstanding at March 31, 2016) | 61 |  |  | — |  |  | 61 |
Additional paid-in capital | 55,470 |  |  | — |  |  | 55,470 |
Accumulated deficit | (45,710 | ) |  | (2,335 | ) |  | (48,045 | )
Treasury stock, at cost (1,944 shares at March 31, 2016) | (417 | ) |  | — |  |  | (417 | )
Accumulated other comprehensive loss | (307 | ) |  | — |  |  | (307 | )
Total equity | 54,215 |  |  | (2,335 | ) |  | 51,880 |
Total liabilities and equity | $ | 741,728 |  |  | $ | (2,674 | ) |  | $ | 739,054 |
CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS
| Year Ended March 31, 2016
$ in thousands except per share data | As Previously Reported |  | Adjustment |  | As Restated
Interest income: |  |  |  |  |
Loans | $ | 24,702 |  |  | $ | (344 | ) |  | $ | 24,358 |
Mortgage-backed securities | 761 |  |  | — |  |  | 761 |
Investment securities | 1,295 |  |  | — |  |  | 1,295 |
Money market investments | 150 |  |  | — |  |  | 150 |
Total interest income | 26,908 |  |  | (344 | ) |  | 26,564 |
Interest expense: |  |  |  |  |
Deposits | 3,269 |  |  | — |  |  | 3,269 |
Advances and other borrowed money | 1,270 |  |  | 66 |  |  | 1,336 |
Total interest expense | 4,539 |  |  | 66 |  |  | 4,605 |
Net interest income | 22,369 |  |  | (410 | ) |  | 21,959 |
Provision for loan losses | 1,495 |  |  | — |  |  | 1,495 |
Net interest income after provision for (recovery of) loan losses | 20,874 |  |  | (410 | ) |  | 20,464 |
Non-interest income: |  |  |  |  |
Depository fees and charges | 3,112 |  |  | — |  |  | 3,112 |
Loan fees and service charges | 940 |  |  | (521 | ) |  | 419 |
Gain on sale of securities, net | 1 |  |  | — |  |  | 1 |
Gain on sale of loans, net | 499 |  |  | — |  |  | 499 |
Gain on real estate owned, net | 35 |  |  | — |  |  | 35 |
Gain on sale of building, net | 1,221 |  |  | — |  |  | 1,221 |
Lower of cost or market adjustment on loans held-for-sale | 1 |  |  | — |  |  | 1 |
Other | 726 |  |  | — |  |  | 726 |
Total non-interest income | 6,535 |  |  | (521 | ) |  | 6,014 |
Non-interest expense: |  |  |  |  |
Employee compensation and benefits | 11,358 |  |  | — |  |  | 11,358 |
Net occupancy expense | 4,695 |  |  | — |  |  | 4,695 |
Equipment, net | 635 |  |  | — |  |  | 635 |
Data processing | 1,100 |  |  | — |  |  | 1,100 |
Consulting fees | 1,058 |  |  | — |  |  | 1,058 |
Federal deposit insurance premiums | 527 |  |  | — |  |  | 527 |
Other | 8,078 |  |  | 666 |  |  | 8,744 |
Total non-interest expense | 27,451 |  |  | 666 |  |  | 28,117 |
Loss before income taxes | (42 | ) |  | (1,597 | ) |  | (1,639 | )
Income tax expense | 128 |  |  | — |  |  | 128 |
Net loss | $ | (170 | ) |  | $ | (1,597 | ) |  | $ | (1,767 | )
Net loss | $ | (170 | ) |  | $ | (1,597 | ) |  | $ | (1,767 | )
Total other comprehensive income | 738 |  |  | — |  |  | 738 |
Comprehensive income (loss) | $ | 568 |  |  | $ | (1,597 | ) |  | $ | (1,029 | )
Loss per common share: |  |  |  |  |
Basic | $ | (0.05 | ) |  | $ | (0.43 | ) |  | $ | (0.48 | )
Diluted | $ | (0.05 | ) |  | $ | (0.43 | ) |  | $ | (0.48 | )
CONSOLIDATED STATEMENT OF CASH FLOWS
| Year Ended March 31, 2016
$ in thousands except per share data | As Previously Reported |  | Adjustment |  | As Restated
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |
Net loss | $ | (170 | ) |  | $ | (1,597 | ) |  | $ | (1,767 | )
Adjustments to reconcile net loss to net cash provided by operating activities: |  |  |  |  |
Provision for loan losses | 1,495 |  |  | — |  |  | 1,495 |
Stock based compensation expense | 2 |  |  | — |  |  | 2 |
Depreciation and amortization expense | 1,415 |  |  | — |  |  | 1,415 |
Loss (gain) on sale of real estate owned, net of market value adjustment | (35 | ) |  | — |  |  | (35 | )
Gain on sale of securities, net | (1 | ) |  | — |  |  | (1 | )
Gain on sale of loans, net | (499 | ) |  | — |  |  | (499 | )
Gain on sale of building | (1,221 | ) |  | — |  |  | (1,221 | )
Market adjustment on held-for-sale loans | (1 | ) |  | — |  |  | (1 | )
Amortization and accretion of loan premiums and discounts and deferred charges | 188 |  |  | (52 | ) |  | 136 |
Amortization and accretion of premiums and discounts - securities | 322 |  |  | — |  |  | 322 |
Decrease (increase) in accrued interest receivable | (866 | ) |  | 942 |  |  | 76 |
Decrease (increase) in other assets | (1,915 | ) |  | 943 |  |  | (972 | )
Increase in other liabilities | 2,010 |  |  | (540 | ) |  | 1,470 |
Net cash provided by operating activities | 724 |  |  | (304 | ) |  | 420 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |
Net cash used in investing activities | (52,036 | ) |  | — |  |  | (52,036 | )
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |
Net cash provided by financing activities | 63,980 |  |  | — |  |  | 63,980 |
Net (decrease) increase in cash and cash equivalents | 12,668 |  |  | (304 | ) |  | 12,364 |
Cash and cash equivalents at beginning of period | 50,992 |  |  | (168 | ) |  | 50,824 |
Cash and cash equivalents at end of period | $ | 63,660 |  |  | $ | (472 | ) |  | $ | 63,188 |

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