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Investment Securities (Tables)

12 Months Ended

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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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
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+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
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