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Investment Securities (Tables) | 6 Months Ended
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Sep. 30, 2020
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 September 30, 2020 and March 31, 2020:
|  | At September 30, 2020
|  | Amortized |  | Gross Unrealized |  |
$ in thousands |  | Cost |  | Gains |  | Losses |  | Fair Value
Available-for-Sale: |  |  |  |  |  |  |  |
Mortgage-backed Securities: |  |  |  |  |  |  |  |
Government National Mortgage Association |  | $ | 1,628 |  |  | $ | 62 |  |  | $ | — |  |  | $ | 1,690 |
Federal Home Loan Mortgage Corporation |  | 30,136 |  |  | 116 |  |  | 1 |  |  | 30,251 |
Federal National Mortgage Association |  | 15,603 |  |  | — |  |  | — |  |  | 15,603 |
Total mortgage-backed securities |  | 47,367 |  |  | 178 |  |  | 1 |  |  | 47,544 |
U.S. Government Agency Securities |  | 20,473 |  |  | — |  |  | 164 |  |  | 20,309 |
Corporate Bonds |  | 6,276 |  |  | 1 |  |  | 59 |  |  | 6,218 |
Muni Securities |  | 17,773 |  |  | 14 |  |  | 53 |  |  | 17,734 |
Asset-backed Securities |  | 11,165 |  |  | 156 |  |  | 51 |  |  | 11,270 |
Total available-for-sale |  | $ | 103,054 |  |  | $ | 349 |  |  | $ | 328 |  |  | $ | 103,075 |
Held-to-Maturity: |  |  |  |  |  |  |  |
Mortgage-backed Securities: |  |  |  |  |  |  |  |
Government National Mortgage Association |  | $ | 815 |  |  | $ | 71 |  |  | $ | — |  |  | $ | 886 |
Federal National Mortgage Association and Other |  | 7,686 |  |  | 354 |  |  | — |  |  | 8,040 |
Total held-to-maturity mortgage-backed securities |  | 8,501 |  |  | 425 |  |  | — |  |  | 8,926 |
Corporate Bonds |  | 1,000 |  |  | — |  |  | 9 |  |  | 991 |
Total held-to maturity |  | $ | 9,501 |  |  | $ | 425 |  |  | $ | 9 |  |  | $ | 9,917 |
|  | At March 31, 2020
|  | Amortized |  | Gross Unrealized |  |
$ in thousands |  | Cost |  | Gains |  | Losses |  | Fair Value
Available-for-Sale: |  |  |  |  |  |  |  |
Mortgage-backed Securities: |  |  |  |  |  |  |  |
Government National Mortgage Association |  | $ | 3,510 |  |  | $ | 77 |  |  | $ | — |  |  | $ | 3,587 |
Federal Home Loan Mortgage Corporation |  | 9,244 |  |  | 312 |  |  | 18 |  |  | 9,538 |
Federal National Mortgage Association |  | 21,495 |  |  | 673 |  |  | — |  |  | 22,168 |
Total mortgage-backed securities |  | 34,249 |  |  | 1,062 |  |  | 18 |  |  | 35,293 |
U.S. Government Agency Securities |  | 26,616 |  |  | 20 |  |  | 155 |  |  | 26,481 |
Corporate Bonds |  | 4,032 |  |  | 33 |  |  | 10 |  |  | 4,055 |
Total available-for-sale |  | $ | 64,897 |  |  | $ | 1,115 |  |  | $ | 183 |  |  | $ | 65,829 |
Held-to-Maturity: |  |  |  |  |  |  |  |
Mortgage-backed Securities: |  |  |  |  |  |  |  |
Government National Mortgage Association |  | $ | 972 |  |  | $ | 76 |  |  | $ | — |  |  | $ | 1,048 |
Federal National Mortgage Association and Other |  | 8,179 |  |  | 342 |  |  | — |  |  | 8,521 |
Total held-to-maturity mortgage-backed securities |  | 9,151 |  |  | 418 |  |  | — |  |  | 9,569 |
Corporate Bonds |  | 1,000 |  |  | — |  |  | 5 |  |  | 995 |
Total held-to-maturity |  | $ | 10,151 |  |  | $ | 418 |  |  | $ | 5 |  |  | $ | 10,564 |
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 six months ended September 30, 2020. There were no sales of available-for-sale and held-to-maturity securities for the three months ended September 30, 2020.
$ in thousands |  | September 30, 2020 |  |
Proceeds |  | $ | 30,190 |  |  |
Gross gains |  | 862 |  |  |
Gross losses |  | — |  |  |
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 September 30, 2020 and March 31, 2020 for less than 12 months and 12 months or longer:
|  | At September 30, 2020
|  | 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 |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 438 |  |  | $ | 1 |  |  | $ | 438 |
U.S. Government Agency securities |  | — |  |  | — |  |  | 164 |  |  | 20,309 |  |  | 164 |  |  | 20,309 |
Corporate bonds |  | 59 |  |  | 5,217 |  |  | — |  |  | — |  |  | 59 |  |  | 5,217 |
Muni securities |  | 53 |  |  | 10,195 |  |  | — |  |  | — |  |  | 53 |  |  | 10,195 |
Asset-backed securities |  | 51 |  |  | 2,458 |  |  | — |  |  | — |  |  | 51 |  |  | 2,458 |
Total available-for-sale securities |  | $ | 163 |  |  | $ | 17,870 |  |  | $ | 165 |  |  | $ | 20,747 |  |  | $ | 328 |  |  | $ | 38,617 |
Held-to-Maturity: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 9 |  |  | $ | 991 |  |  | $ | — |  |  | $ | — |  |  | $ | 9 |  |  | $ | 991 |
Total held-to-maturity securities |  | $ | 9 |  |  | $ | 991 |  |  | $ | — |  |  | $ | — |  |  | $ | 9 |  |  | $ | 991 |
|  | At March 31, 2020
|  | 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 |  | $ | — |  |  | $ | — |  |  | $ | 18 |  |  | $ | 619 |  |  | $ | 18 |  |  | $ | 619 |
U.S. Government Agency securities |  |  |  |  |  | 155 |  |  | 21,494 |  |  | 155 |  |  | 21,494 |
Corporate bonds |  | 10 |  |  | 1,999 |  |  | — |  |  | — |  |  | 10 |  |  | 1,999 |
Total available-for-sale securities |  | $ | 10 |  |  | $ | 1,999 |  |  | $ | 173 |  |  | $ | 22,113 |  |  | $ | 183 |  |  | $ | 24,112 |
Held-to-Maturity: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 5 |  |  | $ | 995 |  |  | $ | — |  |  | $ | — |  |  | $ | 5 |  |  | $ | 995 |
Total held-to-maturity securities |  | $ | 5 |  |  | $ | 995 |  |  | $ | — |  |  | $ | — |  |  | $ | 5 |  |  | $ | 995 |
Investments Classified by Contractual Maturity Date | The following is a summary of the amortized cost and fair value of debt securities at September 30, 2020, 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 | $ | 1,001 |  |  | $ | 1,002 |  |  | 1.71 | %
One through five years | 3,763 |  |  | 3,723 |  |  | 3.04 | %
Five through ten years | 6,402 |  |  | 6,343 |  |  | 1.32 | %
After ten years | 44,521 |  |  | 44,463 |  |  | 1.84 | %
Mortgage-backed securities | 47,367 |  |  | 47,544 |  |  | 1.26 | %
Total | $ | 103,054 |  |  | $ | 103,075 |  |  | 1.58 | %
Held-to-maturity: |  |  |  |  |
One through five years | $ | 1,000 |  |  | $ | 991 |  |  | 4.23 | %
Mortgage-backed securities | 8,501 |  |  | 8,926 |  |  | 2.4 | %
Total | $ | 9,501 |  |  | $ | 9,917 |  |  | 2.82 | %

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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=121645371&loc=d3e27290-111563 + Details
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