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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the expected Federal income tax rate to the consolidated effective tax rate for the years ended March 31:

			2024												2023
$ in thousands			Amount						Percent						Amount						Percent
Statutory Federal income tax expense (benefit)			$	(625)					21.0		%				$	(924)					21.0		%
Federal deferred tax adjustments			4						(0.2)						—						—
Change in valuation allowance			713						(23.9)						953						(21.7)
Bank owned life insurance			(96)						3.2						—						—
Other			4						(0.1)						(29)						0.7
Total income tax expense (benefit)			$	—					—		%				$	—					—		%

Deferred Tax Assets and Liabilities

Tax effects of existing temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are included in other assets at March 31 as follows:

$ in thousands			2024						2023
Deferred Tax Assets:
Allowance for credit losses			$	1,987					$	1,742
Compensation and benefits			39						39
Nonaccrual loan interest			188						63
Net operating loss carryforward			20,168						19,191
New markets tax credit			3,434						3,434
Unrealized loss on available-for-sale securities			2,668						2,565
Lease liability			3,629						4,452
Other			58						33
Total Deferred Tax Assets			32,171						31,519
Deferred Tax Liabilities:
Depreciation			501						671
ROU asset			3,366						4,169
Other			—						52
Total Deferred Tax Liabilities			3,867						4,892
Deferred Tax Assets, net			28,304						26,627
Valuation Allowance			(28,304)						(26,627)
Deferred Tax Assets, net of valuation allowance			$	—					$	—

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- References

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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