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Fair Value of Financial Instruments (Tables)

3 Months Ended

Jun. 30, 2022

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, 2022 and March 31, 2022 are as follows:

						June 30, 2022
$ 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						$	43,381					$	43,381					$	43,381					$	—					$	—
Securities available-for-sale						60,718						60,718						—						60,718						—
Securities held-to-maturity						5,100						5,058						—						5,058						—
Loans receivable						549,793						530,627						—						—						530,627
Accrued interest receivable						2,320						2,320						—						2,320						—
Mortgage servicing rights						165						165						—						—						165
Financial Liabilities:
Deposits						$	588,294					$	584,330					$	447,007					$	137,323					$	—
Advances from FHLB of New York						10,000						10,000						—						10,000						—
Other borrowed money						15,903						14,487						—						14,487						—
Accrued interest payable						91						91						—						91						—

						March 31, 2022
$ 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						$	61,018					$	61,018					$	61,018					$	—					$	—
Securities available-for-sale						67,596						67,596						—						67,596						—
Securities held-to-maturity						5,254						5,276						—						5,276						—
Loans receivable						573,880						563,821						—						—						563,821
Accrued interest receivable						2,414						2,414						—						2,414						—
Mortgage servicing rights						162						162						—						—						162
Financial Liabilities:
Deposits						$	628,117					$	624,160					$	485,884					$	138,276					$	—
Other borrowed money						15,906						15,673						—						15,673						—
Accrued interest payable						91						91						—						91						—

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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 https://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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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X

- References

No definition available.

+ Details

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Namespace Prefix:	us-gaap_
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