XML 35 R24.htm IDEA: XBRL DOCUMENT v3.21.2

Investment Securities (Tables)

3 Months Ended

Jun. 30, 2021

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 June 30, 2021 and March 31, 2021:

						At June 30, 2021
						Amortized						Gross Unrealized
$ in thousands						Cost						Gains						Losses						Fair Value
Available-for-Sale:
Mortgage-backed Securities:
Government National Mortgage Association						$	820					$	29					$	—					$	849
Federal Home Loan Mortgage Corporation						27,443						67						485						27,025
Federal National Mortgage Association						14,583						—						333						14,250
Total mortgage-backed securities						42,846						96						818						42,124
U.S. Government Agency Securities						17,883						—						83						17,800
Corporate Bonds						5,274						—						251						5,023
Muni Securities						17,757						170						196						17,731
Asset-backed Securities						3,335						26						—						3,361
Total available-for-sale						$	87,095					$	292					$	1,348					$	86,039
Held-to-Maturity:
Mortgage-backed Securities:
Government National Mortgage Association						$	634					$	63					$	—					$	697
Federal National Mortgage Association and Other						5,199						213						—						5,412
Total held-to maturity						$	5,833					$	276					$	—					$	6,109

						At March 31, 2021
						Amortized						Gross Unrealized
$ in thousands						Cost						Gains						Losses						Fair Value
Available-for-Sale:
Mortgage-backed Securities:
Government National Mortgage Association						$	987					$	39					$	—					$	1,026
Federal Home Loan Mortgage Corporation						28,458						88						761						27,785
Federal National Mortgage Association						15,120						—						510						14,610
Total mortgage-backed securities						44,565						127						1,271						43,421
U.S. Government Agency Securities						18,744						—						113						18,631
Corporate Bonds						5,274						—						793						4,481
Muni Securities						17,763						—						1,153						16,610
Asset-backed Securities						3,336						28						—						3,364
Total available-for-sale						$	89,682					$	155					$	3,330					$	86,507
Held-to-Maturity:
Mortgage-backed Securities:
Government National Mortgage Association						$	683					$	69					$	—					$	752
Federal National Mortgage Association and Other						7,124						264						—						7,388
Total held-to-maturity						$	7,807					$	333					$	—					$	8,140

Schedule of Realized Gain (Loss)

There were no sales of available-for-sale and held-to-maturity securities for the three months ended June 30, 2021. 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 three months ended June 30, 2020.

$ in thousands												June 30, 2020
Proceeds												$	30,190
Gross gains												862

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 June 30, 2021 and March 31, 2021 for less than 12 months and 12 months or longer:

						At June 30, 2021
						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						$	818					$	38,490					$	—					$	—					$	818					$	38,490
U.S. Government Agency securities						—						—						83						17,799						83						17,799
Corporate bonds						251						5,022						—						—						251						5,022
Muni securities						178						7,424						18						2,905						196						10,329
Total available-for-sale securities						$	1,247					$	50,936					$	101					$	20,704					$	1,348					$	71,640

						At March 31, 2021
						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						$	1,271					$	39,020					$	—					$	—					$	1,271					$	39,020
U.S. Government Agency securities						—						—						113						18,631						113						18,631
Corporate bonds						793						4,481						—						—						793						4,481
Muni securities						1,153						16,609																		1,153						16,609
Total available-for-sale securities						$	3,217					$	60,110					$	113					$	18,631					$	3,330					$	78,741

Investments Classified by Contractual Maturity Date

The following is a summary of the amortized cost and fair value of debt securities at June 30, 2021, 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:
One through five years			3,335						3,361						3.18		%
Five through ten years			5,441						5,410						1.47		%
After ten years			35,473						35,144						1.98		%
Mortgage-backed securities			42,846						42,124						1.36		%
Total			$	87,095					$	86,039					1.69		%
Held-to-maturity:
Mortgage-backed securities			$	5,833					$	6,109					2.5		%

X

- Definition

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

+ References

No definition available.

+ Details

Name:	us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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=123581744&loc=d3e27357-111563

+ Details

Name:	us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=123581744&loc=d3e27290-111563

+ Details

Name:	us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of unrealized gains and losses on investments.

+ References

No definition available.

+ Details

Name:	us-gaap_UnrealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration