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Fair Value of Financial Instruments (Tables)

3 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

The carrying amounts and estimated fair values of the Bank’s financial instruments and estimation methodologies at June 30, 2021 and March 31, 2021 are as follows:

						June 30, 2021
$ 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						$	78,727					$	78,727					$	78,727					$	—					$	—
Securities available-for-sale						86,039						86,039						—						86,039						—
Securities held-to-maturity						5,833						6,109						—						6,109						—
Loans receivable						483,116						493,736						—						—						493,736
Accrued interest receivable						2,579						2,579						—						2,579						—
Mortgage servicing rights						151						151						—						—						151
Financial Liabilities:
Deposits						$	568,276					$	567,984					$	419,865					$	148,119					$	—
Other borrowed money						34,093						32,627						—						32,627						—
Accrued interest payable						124						124						—						124						—

						March 31, 2021
$ 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						$	75,591					$	75,591					$	75,591					$	—					$	—
Securities available-for-sale						86,507						86,507						—						86,507						—
Securities held-to-maturity						7,807						8,140						—						8,140						—
Loans receivable						478,409						487,806						—						—						487,806
Accrued interest receivable						2,640						2,640						—						2,640						—
Mortgage servicing rights						147						147						—						—						147
Financial Liabilities:
Deposits						$	556,559					$	557,049					$	402,843					$	154,206					$	—
Other borrowed money						37,108						37,150						—						37,150						—
Accrued interest payable						3,212						3,212						—						3,212						—

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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X

- References

No definition available.

+ Details

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