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Investment Securities (Tables) | 12 Months Ended
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Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract] |
Unrealized Gain (Loss) on Investments | The following tables set forth the amortized cost and fair value of securities available-for-sale and held-to-maturity at March 31, 2019 and March 31, 2018:
| At March 31, 2019
| Amortized |  | Gross Unrealized |  |
$ in thousands | Cost |  | Gains |  | Losses |  | Fair Value
Available-for-Sale: |  |  |  |  |  |  |
Mortgage-backed securities: |  |  |  |  |  |  |
Government National Mortgage Association | $ | 4,443 |  |  | $ | 25 |  |  | $ | 86 |  |  | $ | 4,382 |
Federal Home Loan Mortgage Corporation | 11,104 |  |  | 69 |  |  | 148 |  |  | 11,025 |
Federal National Mortgage Association | 27,094 |  |  | 131 |  |  | 617 |  |  | 26,608 |
Total mortgage-backed securities | 42,641 |  |  | 225 |  |  | 851 |  |  | 42,015 |
U.S. Government Agency Securities | 33,089 |  |  | — |  |  | 236 |  |  | 32,853 |
Corporate Bonds | 5,054 |  |  | — |  |  | 77 |  |  | 4,977 |
Total available-for-sale | $ | 80,784 |  |  | $ | 225 |  |  | $ | 1,164 |  |  | $ | 79,845 |
Held-to-Maturity*: |  |  |  |  |  |  |
Mortgage-backed securities: |  |  |  |  |  |  |
Government National Mortgage Association | 1,214 |  |  | 40 |  |  | — |  |  | 1,254 |
Federal National Mortgage Association | 8,923 |  |  | — |  |  | 87 |  |  | 8,836 |
Total held-to-maturity mortgage-backed securities | 10,137 |  |  | 40 |  |  | 87 |  |  | 10,090 |
Corporate Bonds | 1,000 |  |  | 17 |  |  | — |  |  | 1,017 |
Total held-to-maturity | $ | 11,137 |  |  | $ | 57 |  |  | $ | 87 |  |  | $ | 11,107 |
| At March 31, 2018
| Amortized |  | Gross Unrealized |  |
$ in thousands | Cost |  | Gains |  | Losses |  | Fair Value
Available-for-Sale: |  |  |  |  |  |  |
Mortgage-backed securities: |  |  |  |  |  |  |
Government National Mortgage Association | $ | 2,163 |  |  | $ | — |  |  | $ | 97 |  |  | $ | 2,066 |
Federal Home Loan Mortgage Corporation | 6,633 |  |  | — |  |  | 283 |  |  | 6,350 |
Federal National Mortgage Association | 24,638 |  |  | — |  |  | 1,227 |  |  | 23,411 |
Total mortgage-backed securities | 33,434 |  |  | — |  |  | 1,607 |  |  | 31,827 |
U.S. Government Agency Securities | 14,490 |  |  | — |  |  | 258 |  |  | 14,232 |
Corporate Bonds | 5,078 |  |  | — |  |  | 212 |  |  | 4,866 |
Other investments (1) | 10,433 |  |  | — |  |  | 649 |  |  | 9,784 |
Total available-for-sale | $ | 63,435 |  |  | $ | — |  |  | $ | 2,726 |  |  | $ | 60,709 |
Held-to-Maturity*: |  |  |  |  |  |  |
Mortgage-backed securities: |  |  |  |  |  |  |
Government National Mortgage Association | $ | 1,434 |  |  | $ | 51 |  |  | $ | — |  |  | $ | 1,485 |
Federal National Mortgage Association and Other | 9,641 |  |  | — |  |  | 247 |  |  | 9,394 |
Total held-to-maturity mortgage-backed securities | 11,075 |  |  | 51 |  |  | 247 |  |  | 10,879 |
Corporate Bonds | 1,000 |  |  | 30 |  |  | — |  |  | 1,030 |
Total held-to-maturity | $ | 12,075 |  |  | $ | 81 |  |  | $ | 247 |  |  | $ | 11,909 |
* The carrying amount and amortized cost are the same for all held-to-maturity securities, as no OTTI has been recorded. (1) Primarily comprised of an investment in a CRA fund with 95% of its underlying investments consisting of government and agency backed securities.
Schedule of Realized Gain (Loss) | The following is a summary regarding proceeds, gross gains and gross losses realized from the sale of securities from the available-for-sale portfolio for the year ended March 31, 2019.
$ in thousands | 2019
Proceeds | $ | 20,487 |
Gross gains | 12 |
Gross losses | 28 |
Schedule of Unrealized Loss on Investments | The following tables set forth the unrealized losses and fair value of securities in an unrealized loss position at March 31, 2019 and March 31, 2018 for less than 12 months and 12 months or longer:
| At March 31, 2019
| Less than 12 months |  | 12 months or longer |  | Total
$ in thousands | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value
Available-for-Sale: |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities | $ | — |  |  | $ | — |  |  | $ | 851 |  |  | $ | 26,787 |  |  | $ | 851 |  |  | $ | 26,787 |
U.S. Government Agency Securities | 23 |  |  | 20,851 |  |  | 213 |  |  | 12,002 |  |  | 236 |  |  | 32,853 |
Corporate bonds | — |  |  | — |  |  | 77 |  |  | 4,977 |  |  | 77 |  |  | 4,977 |
Total available-for-sale securities | $ | 23 |  |  | $ | 20,851 |  |  | $ | 1,141 |  |  | $ | 43,766 |  |  | $ | 1,164 |  |  | $ | 64,617 |
Held-to-Maturity: |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities | $ | — |  |  | $ | — |  |  | $ | 87 |  |  | $ | 8,752 |  |  | $ | 87 |  |  | $ | 8,752 |
Total held-to-maturity securities | $ | — |  |  | $ | — |  |  | $ | 87 |  |  | $ | 8,752 |  |  | $ | 87 |  |  | $ | 8,752 |
| At March 31, 2018
| Less than 12 months |  | 12 months or longer |  | Total
$ in thousands | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value
Available-for-Sale: |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities | $ | 101 |  |  | $ | 3,702 |  |  | $ | 1,506 |  |  | $ | 28,124 |  |  | $ | 1,607 |  |  | $ | 31,826 |
U.S. Government Agency Securities | 80 |  |  | 7,666 |  |  | 178 |  |  | 6,566 |  |  | 258 |  |  | 14,232 |
Corporate bonds | — |  |  | — |  |  | 212 |  |  | 4,866 |  |  | 212 |  |  | 4,866 |
Other investments (1) | — |  |  | — |  |  | 649 |  |  | 9,351 |  |  | 649 |  |  | 9,351 |
Total available-for-sale securities | $ | 181 |  |  | $ | 11,368 |  |  | $ | 2,545 |  |  | $ | 48,907 |  |  | $ | 2,726 |  |  | $ | 60,275 |
Held-to-Maturity: |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities | $ | 188 |  |  | $ | 7,681 |  |  | $ | 59 |  |  | $ | 1,612 |  |  | $ | 247 |  |  | $ | 9,293 |
Total held-to-maturity securities | $ | 188 |  |  | $ | 7,681 |  |  | $ | 59 |  |  | $ | 1,612 |  |  | $ | 247 |  |  | $ | 9,293 |
(1) Primarily comprised of an investment in a CRA fund with 95% of its underlying investments consisting of government and agency backed securities.
Investments Classified by Contractual Maturity Date | The following is a summary of the amortized cost and fair value of debt securities at March 31, 2019, by remaining period to contractual maturity (ignoring earlier call dates, if any). Actual maturities may differ from contractual maturities because certain security issuers have the right to call or prepay their obligations. The table below does not consider the effects of possible prepayments or unscheduled repayments.
$ in thousands | Amortized Cost |  | Fair Value |  | Weighted Average Yield
Available-for-Sale: |  |  |  |  |
Less than one year | $ | 1,005 |  |  | $ | 998 |  |  | 1.65 | %
One through five years | 8,279 |  |  | 8,116 |  |  | 1.72 | %
Five through ten years | 17,775 |  |  | 17,590 |  |  | 2.84 | %
After ten years | 53,725 |  |  | 53,141 |  |  | 2.76 | %
| 80,784 |  |  | 79,845 |  |  | 2.65 | %
Held-to-maturity: |  |  |  |  |
One through five years | $ | 4,555 |  |  | $ | 4,530 |  |  | 2.40 | %
Five through ten years | 4,381 |  |  | 4,377 |  |  | 3.31 | %
After ten years | 2,201 |  |  | 2,200 |  |  | 2.87 | %
| $ | 11,137 |  |  | $ | 11,107 |  |  | 2.85 | %

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- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27357-111563 + Details
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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
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