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v3.23.2

Deposits | 12 Months Ended
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Mar. 31, 2023
Deposits [Abstract] |
Deposits | DEPOSITSDeposit balances and weighted average interest rates as of March 31 are as follows:
| 2023 |  | 2022
$ in thousands | Amount |  | Percent of Total Deposits |  | Weighted Average Rate |  | Amount |  | Percent of Total Deposits |  | Weighted Average Rate
Non-interest-bearing demand | $ | 109,401 |  |  | 18.22 | % |  | — | % |  | $ | 107,472 |  |  | 17.11 | % |  | — | %
Interest-bearing checking | 49,473 |  |  | 8.24 |  |  | 0.39 |  |  | 57,985 |  |  | 9.23 |  |  | 0.06 |
Savings | 109,210 |  |  | 18.19 |  |  | 0.60 |  |  | 112,305 |  |  | 17.88 |  |  | 0.11 |
Money market savings account | 150,348 |  |  | 25.04 |  |  | 3.73 |  |  | 208,122 |  |  | 33.14 |  |  | 0.24 |
Certificates of deposit | 178,694 |  |  | 29.76 |  |  | 5.03 |  |  | 139,255 |  |  | 22.17 |  |  | 0.88 |
Loan escrow deposits | 3,303 |  |  | 0.55 |  |  | 0.45 |  |  | 2,978 |  |  | 0.47 |  |  | 0.36 |
Total | $ | 600,429 |  |  | 100.00 | % |  | 2.58 | % |  | $ | 628,117 |  |  | 100.00 | % |  | 0.30 | %
Scheduled maturities of certificates of deposit for the year ended March 31, 2023 are as follows:
$ in thousands |  | Amount
Maturing years ending March 31: |  |
2024 |  | $ | 133,017 |
2025 |  | 32,768 |
2026 |  | 8,040 |
2027 |  | 1,726 |
2028 |  | 2,157 |
2029 and beyond |  | 986 |
Total |  | $ | 178,694 |
The following table represents the amount of certificates of deposit of $250,000 or more at March 31, 2023 maturing during the periods indicated:
$ in thousands |
Maturing: |
April 1, 2023 to June 30, 2023 | $ | 18,009 |
July 1, 2023 to September 30, 2023 | 11,236 |
October 1, 2023 to March 31, 2024 | 1,762 |
April 1, 2024 and beyond | 4,758 |
Total | $ | 35,765 |
Interest expense on deposits is as follows for the years ended March 31:
$ in thousands | 2023 |  | 2022 |  |
Interest-bearing checking | $ | 55 |  |  | $ | 30 |  |  |
Savings and clubs | 166 |  |  | 123 |  |  |
Money market savings | 1,728 |  |  | 378 |  |  |
Certificates of deposit | 1,756 |  |  | 1,349 |  |  |
Loan escrow deposits | 3 |  |  | 10 |  |  |
Total interest expense | $ | 3,708 |  |  | $ | 1,890 |  |  |
The following table presents additional information about our year-end deposits:
$ in thousands |  | 2023 |  | 2022
Deposits from the Certificate of Deposit Account Registry Service (CDARS) |  | $ | 84,389 |  |  | $ | 46,421 |
Deposits from brokers |  | 17,638 |  |  | 17,788 |
Certificates of deposit individually greater than $250,000 |  | 25,765 |  |  | 36,919 |
Deposits from certain directors, executive officers and their affiliates |  | 4,885 |  |  | 432 |

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- Definition The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 405 -Topic 942 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481047/942-405-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph (e) -Publisher SEC Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Publisher SEC Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 + Details
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