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v3.23.3

Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Sep. 30, 2023
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, 2023 and March 31, 2023 are as follows:
|  | September 30, 2023
$ 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 |  | $ | 52,189 |  |  | $ | 52,189 |  |  | $ | 52,189 |  |  | $ | — |  |  | $ | — |
Securities available-for-sale |  | 47,644 |  |  | 47,644 |  |  | — |  |  | 47,644 |  |  | — |
Securities held-to-maturity |  | 2,162 |  |  | 2,005 |  |  | — |  |  | 2,005 |  |  | — |
Loans receivable |  | 605,095 |  |  | 569,278 |  |  | — |  |  | — |  |  | 569,278 |
Accrued interest receivable |  | 2,078 |  |  | 2,078 |  |  | — |  |  | 2,078 |  |  | — |
Mortgage servicing rights |  | 151 |  |  | 151 |  |  | — |  |  | — |  |  | 151 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 630,453 |  |  | $ | 625,401 |  |  | $ | 437,832 |  |  | $ | 187,569 |  |  | $ | — |
Advances from FHLB-NY |  | 28,027 |  |  | 28,037 |  |  | — |  |  | 28,037 |  |  | — |
Other borrowed money |  | 18,403 |  |  | 16,867 |  |  | — |  |  | 16,867 |  |  | — |
Accrued interest payable |  | 1,197 |  |  | 1,197 |  |  | — |  |  | 1,197 |  |  | — |
|  | March 31, 2023
$ 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 |  | $ | 42,552 |  |  | $ | 42,552 |  |  | $ | 42,552 |  |  | $ | — |  |  | $ | — |
Securities available-for-sale |  | 53,843 |  |  | 53,843 |  |  | — |  |  | 53,843 |  |  | — |
Securities held-to-maturity |  | 2,318 |  |  | 2,221 |  |  | — |  |  | 2,221 |  |  | — |
Loans receivable |  | 592,667 |  |  | 567,029 |  |  | — |  |  | — |  |  | 567,029 |
Accrued interest receivable |  | 1,911 |  |  | 1,911 |  |  | — |  |  | 1,911 |  |  | — |
Mortgage servicing rights |  | 152 |  |  | 152 |  |  | — |  |  | — |  |  | 152 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 600,429 |  |  | $ | 594,736 |  |  | $ | 418,432 |  |  | $ | 176,304 |  |  | $ | — |
Advances from FHLB-NY |  | 35,000 |  |  | 35,238 |  |  | — |  |  | 35,238 |  |  | — |
Other borrowed money |  | 15,903 |  |  | 14,575 |  |  | — |  |  | 14,575 |  |  | — |
Accrued interest payable |  | 380 |  |  | 380 |  |  | — |  |  | 380 |  |  | — |

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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 -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
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