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Fair Value of Financial Instruments (Tables)

6 Months Ended

Sep. 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 September 30, 2021 and March 31, 2021 are as follows:

						September 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						$	79,130					$	79,130					$	79,130					$	—					$	—
Securities available-for-sale						79,853						79,853						—						79,853						—
Securities held-to-maturity						5,623						5,865						—						5,865						—
Loans receivable						515,138						530,090						—						—						530,090
Accrued interest receivable						2,599						2,599						—						2,599						—
Mortgage servicing rights						134						134						—						—						134
Financial Liabilities:
Deposits						$	603,365					$	601,460					$	454,167					$	147,293					$	—
Other borrowed money						21,453						21,228						—						21,228						—
Accrued interest payable						183						183						—						183						—

						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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