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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

The components of income tax expense for the years ended March 31 are as follows:

$ in thousands		2017				2016
Income tax expense
Current - Federal		$	—			$	4
Current - State		119				124
Total income tax expense		$	119			$	128

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the expected Federal income tax rate to the consolidated effective tax rate for the years ended March 31:

	2017							2016 Restated (1)
$ in thousands	Amount				Percent			Amount				Percent
Statutory Federal income tax expense (benefit) - Restated (1)	$	(929	)		34.0	%		$	(558	)		34.0	%
State and local income tax, net of Federal tax benefit - Restated (1)	119				(4.4	)		128				(7.8	)
General business credit - Restated (1)	11				(0.4	)		11				(0.7	)
Change in valuation allowance - Restated (1)	961				(35.2	)		774				(47.2	)
Other - Restated (1)	(43		)		1.6			(227		)		13.9
Total income tax expense	$	119			(4.4	)%		$	128			(7.8	)%

Deferred Tax Assets and Liabilities

Tax effects of existing temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are included in other assets at March 31 as follows:

$ in thousands	2017				2016 Restated (1)
Deferred Tax Assets:
Allowance for loan losses	$	2,147			$	2,230
Nonaccrual loan interest	373				67
Purchase accounting adjustment	1				3
Net operating loss carryforward - Restated (1)	17,551				16,550
New markets tax credit	2,207				2,207
Depreciation - Restated (1)	2,018				1,656
Market value adjustment on HFS loans	—				13
Unrealized loss on available-for-sale securities	792				139
Other - Restated (1)	810				709
Total Deferred Tax Assets - Restated (1)	25,899				23,574
Deferred Tax Liabilities:
Market value adjustment on HFS loans	68				—
Other	812				593
Total Deferred Tax Liabilities	880				593
Deferred Tax Assets, net - Restated (1)	25,019				22,981
Valuation Allowance - Restated (1)	(25,019		)		(22,981		)
Deferred Tax Assets, net of valuation allowance	$	—			$	—

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- References

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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