Fair Value of Financial Instruments (Tables)

12 Months Ended

Mar. 31, 2017

The carrying amounts and estimated fair values of the Bank's financial instruments and estimation methodologies at March 31 are as follows:



	March 31, 2017
$ in thousands	Carrying Amount		Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents	$	58,686	$	58,686	$	58,686	$	—	$	—
Restricted cash	283		283		—		283		—
Available-for-sale securities	59,011		59,011		—		58,608		403
FHLB Stock	2,171		2,171		—		2,171		—
Held-to-maturity securities	13,435		13,497		—		13,497		—
Loans receivable	540,492		543,929		—		—		543,929
Loans held-for-sale	944		944		—		—		944
Accrued interest receivable	1,583		1,583		—		1,583		—
Mortgage servicing rights	192		192		—		—		192
Other assets - Interest-bearing deposits	985		985		—		985		—
Financial Liabilities:
Deposits	$	579,176	$	548,902	$	313,430	$	235,472	$	—
Advances from FHLB of New York	30,000		29,994		—		29,994		—
Other borrowed money	19,403		18,896		—		18,896		—
Accrued interest payable	390		390		—		390		—



	March 31, 2016
$ in thousands	Carrying Amount Restated ⁽¹⁾		Estimated Fair Value Restated ⁽¹⁾		Quoted Prices in Active Markets for Identical Assets (Level 1) Restated ⁽¹⁾		Significant Other Observable Inputs (Level 2) Restated ⁽¹⁾		Significant Unobservable Inputs (Level 3) Restated ⁽¹⁾
Financial Assets:
Cash and cash equivalents - Restated ⁽¹⁾	$	63,188	$	63,188	$	63,188	$	—	$	—
Restricted cash	225		225		—		225		—
Available-for-sale securities	56,180		56,180		—		55,987		193
FHLB Stock	2,883		2,883		—		2,883		—
Securities held-to-maturity	15,311		15,653		—		15,653		—
Loans receivable - Restated ⁽¹⁾	583,396		586,162		—		—		586,162
Loans held-for-sale - Restated ⁽¹⁾	2,436		2,436		—		—		2,436
Accrued interest receivable - Restated ⁽¹⁾	2,420		2,420		—		2,420		—
Mortgage servicing rights	201		201		—		—		201
Other assets - Interest-bearing deposits	983		983		—		983		—
Financial Liabilities:
Deposits	$	606,741	$	585,394	$	329,398	$	255,996	$	—
Advances from FHLB of New York	50,000		50,141		—		50,141		—
Other borrowed money	18,403		18,734		—		18,734		—
Accrued interest payable - Restated ⁽¹⁾	2,331		2,331		—		2,331		—

⁽¹⁾March 31, 2016 balances have been restated from previously reported results to correct for material and certain other errors from prior periods. Refer to Notes 1 and 19 for further detail.