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Loans Receivable and ACL (Tables) | 3 Months Ended
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Jun. 30, 2024
Loans and Leases Receivable Disclosure [Abstract] |
Loans Receivable and ACL | The following is a summary of loans receivable, net of allowance for credit losses at June 30, 2024 and March 31, 2024:
|  | June 30, 2024 |  | March 31, 2024
$ in thousands |  | Amount |  | Percent |  | Amount |  | Percent
Loans receivable: |  |  |  |  |  |  |  |
One-to-four family |  | $ | 79,874 |  |  | 12.7 | % |  | $ | 82,787 |  |  | 13.3 | %
Multifamily |  | 175,995 |  |  | 28.1 | % |  | 177,203 |  |  | 28.4 | %
Commercial real estate |  | 179,450 |  |  | 28.6 | % |  | 175,384 |  |  | 28.2 | %
Construction |  | 3,122 |  |  | 0.5 | % |  | 2,203 |  |  | 0.4 | %
Business (1) |  | 172,503 |  |  | 27.5 | % |  | 169,602 |  |  | 27.2 | %
Consumer (2) |  | 15,921 |  |  | 2.6 | % |  | 15,699 |  |  | 2.5 | %
Total loans receivable |  | $ | 626,865 |  |  | 100.0 | % |  | $ | 622,878 |  |  | 100.0 | %
Allowance for credit losses |  | (5,955) |  |  |  |  | (5,871) |  |  |
Total loans receivable, net |  | $ | 620,910 |  |  |  |  | $ | 617,007 |  |  |
(1) Includes PPP loans and business overdrafts (2) Includes personal loans and consumer overdrafts
Allowance for Credit Losses | The following is an analysis of the allowance for credit losses based upon the method of evaluating loan reserves under the expected loss methodology for the three months ended June 30, 2024 and 2023, and the fiscal year ended March 31, 2024.
Three months ended June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
$ in thousands |  | One-to-four family |  | Multifamily |  | Commercial Real Estate |  | Construction |  | Business |  | Consumer |  | Unallocated |  | Total
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance |  | $ | 2,005 |  |  | $ | 720 |  |  | $ | 1,222 |  |  | $ | 1 |  |  | $ | 1,415 |  |  | $ | 450 |  |  | $ | 58 |  |  | $ | 5,871 |
Charge-offs |  | — |  |  | — |  |  | — |  |  | — |  |  | (128) |  |  | (50) |  |  | — |  |  | (178) |
Recoveries |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | 2 |
Provision for (recovery of) Credit Losses |  | 45 |  |  | 42 |  |  | 12 |  |  | 2 |  |  | 6 |  |  | 153 |  |  | — |  |  | 260 |
Ending Balance |  | $ | 2,050 |  |  | $ | 762 |  |  | $ | 1,234 |  |  | $ | 3 |  |  | $ | 1,295 |  |  | $ | 553 |  |  | $ | 58 |  |  | $ | 5,955 |
Allowance for Credit Losses Ending Balance: collectively evaluated for impairment |  | $ | 2,050 |  |  | $ | 762 |  |  | $ | 1,234 |  |  | $ | 3 |  |  | $ | 1,277 |  |  | $ | 539 |  |  | $ | 58 |  |  | $ | 5,923 |
Allowance for Credit Losses Ending Balance: individually evaluated for impairment |  | — |  |  | — |  |  | — |  |  | — |  |  | 18 |  |  | 14 |  |  | — |  |  | 32 |
Loan Receivables Ending Balance: |  | $ | 79,874 |  |  | $ | 175,995 |  |  | $ | 179,450 |  |  | $ | 3,122 |  |  | $ | 172,503 |  |  | $ | 15,921 |  |  | $ | — |  |  | $ | 626,865 |
Ending Balance: collectively evaluated for impairment |  | 77,646 |  |  | 173,822 |  |  | 174,928 |  |  | 3,122 |  |  | 159,802 |  |  | 15,873 |  |  | — |  |  | 605,193 |
Ending Balance: individually evaluated for impairment |  | 2,228 |  |  | 2,173 |  |  | 4,522 |  |  | — |  |  | 12,701 |  |  | 48 |  |  | — |  |  | 21,672 |
At March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
$ in thousands |  | One-to-four family |  | Multifamily |  | Commercial Real Estate |  | Construction |  | Business |  | Consumer |  | Unallocated |  | Total
Allowance for Credit Losses Ending Balance: |  | $ | 2,005 |  |  | $ | 720 |  |  | $ | 1,222 |  |  | $ | 1 |  |  | $ | 1,415 |  |  | $ | 450 |  |  | $ | 58 |  |  | $ | 5,871 |
Allowance for Credit Losses Ending Balance: collectively evaluated for impairment |  | 2,005 |  |  | 720 |  |  | 1,222 |  |  | 1 |  |  | 1,408 |  |  | 449 |  |  | 58 |  |  | 5,863 |
Allowance for Credit Losses Ending Balance: individually evaluated for impairment |  | — |  |  | — |  |  | — |  |  | — |  |  | 7 |  |  | 1 |  |  | — |  |  | 8 |
Loan Receivables Ending Balance: |  | $ | 82,787 |  |  | $ | 177,203 |  |  | $ | 175,384 |  |  | $ | 2,203 |  |  | $ | 169,602 |  |  | $ | 15,699 |  |  | $ | — |  |  | $ | 622,878 |
Ending Balance: collectively evaluated for impairment |  | 78,636 |  |  | 174,718 |  |  | 170,862 |  |  | 2,203 |  |  | 156,340 |  |  | 15,654 |  |  | — |  |  | 598,413 |
Ending Balance: individually evaluated for impairment |  | 4,151 |  |  | 2,485 |  |  | 4,522 |  |  | — |  |  | 13,262 |  |  | 45 |  |  | — |  |  | 24,465 |
Three months ended June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
$ in thousands |  | One-to-four family |  | Multifamily |  | Commercial Real Estate |  | Construction |  | Business |  | Consumer |  | Unallocated |  | Total
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance |  | $ | 716 |  |  | $ | 1,109 |  |  | $ | 1,814 |  |  | $ | — |  |  | $ | 1,139 |  |  | $ | 449 |  |  | $ | 2 |  |  | $ | 5,229 |
Impact of CECL adoption |  | 1,220 |  |  | (392) |  |  | (497) |  |  |  |  | 505 |  |  | (166) |  |  | (2) |  |  | 668 |
Charge-offs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (95) |  |  | — |  |  | (95) |
Recoveries |  | — |  |  | — |  |  | — |  |  | — |  |  | 49 |  |  | 1 |  |  | — |  |  | 50 |
Provision for (recovery of) Credit Losses |  | 127 |  |  | (4) |  |  | (53) |  |  | — |  |  | (289) |  |  | 225 |  |  | — |  |  | 6 |
Ending Balance |  | $ | 2,063 |  |  | $ | 713 |  |  | $ | 1,264 |  |  | $ | — |  |  | $ | 1,404 |  |  | $ | 414 |  |  | $ | — |  |  | $ | 5,858 |
Nonaccrual Loans | The following is a summary of nonaccrual loans, at amortized cost, at June 30, 2024 and March 31, 2024.
|  | June 30, 2024
$ in thousands |  | Nonaccrual Loans with No Allowance |  | Nonaccrual Loans with an Allowance |  | Total Nonaccrual Loans
Gross loans receivable: |  |  |  |  |  |
One-to-four family |  | $ | 2,650 |  |  | $ | — |  |  | $ | 2,650 |
Multifamily |  | 2,206 |  |  | — |  |  | 2,206 |
Commercial real estate |  | 4,522 |  |  | — |  |  | 4,522 |
Business |  | 685 |  |  | 191 |  |  | 876 |
Consumer |  | 2 |  |  | 48 |  |  | 50 |
Total nonaccrual loans |  | $ | 10,065 |  |  | $ | 239 |  |  | $ | 10,304 |
|  | March 31, 2024
$ in thousands |  | Nonaccrual Loans with No Allowance |  | Nonaccrual Loans with an Allowance |  | Total Nonaccrual Loans
Gross loans receivable: |  |  |  |  |  |
One-to-four family |  | $ | 3,554 |  |  | $ | — |  |  | $ | 3,554 |
Multifamily |  | 2,238 |  |  | — |  |  | 2,238 |
Commercial real estate |  | 4,522 |  |  | — |  |  | 4,522 |
Business |  | 1,317 |  |  | 100 |  |  | 1,417 |
Consumer |  | — |  |  | 44 |  |  | 44 |
Total nonaccrual loans |  | $ | 11,631 |  |  | $ | 144 |  |  | $ | 11,775 |
Credit Quality Indicators | :
$ in thousands |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 and earlier |  | Revolving Loans |  | Total
Credit Risk Profile by Internally Assigned Grade: |  |  |  |  |  |  |  |  |  |
Multifamily |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 979 |  |  | $ | 6,567 |  |  | $ | 53,335 |  |  | $ | 50,506 |  |  | $ | 28,305 |  |  | $ | 34,131 |  |  | $ | — |  |  | $ | 173,823 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | 1,418 |  |  | 754 |  |  | — |  |  | — |  |  | 2,172 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 979 |  |  | 6,567 |  |  | 53,335 |  |  | 51,924 |  |  | 29,059 |  |  | 34,131 |  |  | — |  |  | 175,995 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 7,851 |  |  | $ | 29,012 |  |  | $ | 31,187 |  |  | $ | 27,496 |  |  | $ | 16,837 |  |  | $ | 61,879 |  |  | $ | — |  |  | $ | 174,262 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 666 |  |  | — |  |  | 666 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,522 |  |  | — |  |  | 4,522 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 7,851 |  |  | 29,012 |  |  | 31,187 |  |  | 27,496 |  |  | 16,837 |  |  | 67,067 |  |  | — |  |  | 179,450 |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | — |  |  | $ | 3,122 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,122 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | — |  |  | 3,122 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,122 |
Business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 14,790 |  |  | $ | 21,122 |  |  | $ | 32,344 |  |  | $ | 52,000 |  |  | $ | 10,763 |  |  | $ | 29,084 |  |  | $ | — |  |  | $ | 160,103 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | 7,964 |  |  | 3,987 |  |  | — |  |  | 449 |  |  | — |  |  | 12,400 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 14,790 |  |  | 21,122 |  |  | 40,308 |  |  | 55,987 |  |  | 10,763 |  |  | 29,533 |  |  | — |  |  | 172,503 |
Gross charge-offs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  | — |  | 128 |  |  | — |  |  | 128 |
Credit Risk Profile Based on Payment Activity: |  |  |  |  |  |  |  |  |  |  |  |  |  |
One-to-four Family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | — |  |  | $ | 21,591 |  |  | $ | 3,813 |  |  | $ | 13,374 |  |  | $ | 1,416 |  |  | $ | 37,451 |  |  | $ | — |  |  | $ | 77,645 |
Non-Performing |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,229 |  |  | — |  |  | 2,229 |
Total |  | — |  |  | 21,591 |  |  | 3,813 |  |  | 13,374 |  |  | 1,416 |  |  | 39,680 |  |  | — |  |  | 79,874 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 3,094 |  |  | $ | 11,101 |  |  | $ | 501 |  |  | $ | 1 |  |  | $ | 8 |  |  | $ | 1,168 |  |  | $ | — |  |  | $ | 15,873 |
Non-Performing |  | — |  |  | 46 |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 48 |
Total |  | 3,094 |  |  | 11,147 |  |  | 501 |  |  | 3 |  |  | 8 |  |  | 1,168 |  |  | — |  |  | 15,921 |
Gross charge-offs |  | — |  |  | 42 |  |  | — |  |  | — |  |  | — |  |  | 8 |  |  | — |  |  | 50 |
Total Loans (excluding gross charge-offs) |  | $ | 26,714 |  |  | $ | 92,561 |  |  | $ | 129,144 |  |  | $ | 148,784 |  |  | $ | 58,083 |  |  | $ | 171,579 |  |  | $ | — |  |  | $ | 626,865 |
At March 31, 2024, the risk category by class of loans was as follows:
$ in thousands |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 and earlier |  | Revolving Loans |  | Total
Credit Risk Profile by Internally Assigned Grade: |  |  |  |  |  |  |  |  |  |
Multifamily |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 980 |  |  | $ | 6,587 |  |  | $ | 53,516 |  |  | $ | 50,778 |  |  | $ | 28,483 |  |  | $ | 34,374 |  |  | — |  |  | $ | 174,718 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | 1,451 |  |  | 754 |  |  | 280 |  |  | — |  |  | 2,485 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 980 |  |  | 6,587 |  |  | 53,516 |  |  | 52,229 |  |  | 29,237 |  |  | 34,654 |  |  | — |  |  | 177,203 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 2,450 |  |  | $ | 29,064 |  |  | $ | 31,313 |  |  | $ | 27,635 |  |  | $ | 16,951 |  |  | $ | 62,775 |  |  | — |  |  | 170,188 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 674 |  |  | — |  |  | 674 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,522 |  |  | — |  |  | 4,522 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 2,450 |  |  | 29,064 |  |  | 31,313 |  |  | 27,635 |  |  | 16,951 |  |  | 67,971 |  |  | — |  |  | 175,384 |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | — |  |  | $ | 2,203 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | 2,203 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | — |  |  | 2,203 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,203 |
Business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 7,050 |  |  | $ | 21,315 |  |  | $ | 32,675 |  |  | $ | 52,839 |  |  | $ | 10,845 |  |  | $ | 32,587 |  |  | — |  |  | 157,311 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | 7,939 |  |  | 3,987 |  |  | — |  |  | 365 |  |  | — |  |  | 12,291 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 7,050 |  |  | 21,315 |  |  | 40,614 |  |  | 56,826 |  |  | 10,845 |  |  | 32,952 |  |  | — |  |  | 169,602 |
Gross charge-offs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10 |  |  | — |  |  | 10 |
Credit Risk Profile Based on Payment Activity: |  |  |  |  |  |  |  |  |  |  |  |  |  |
One-to-four Family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | — |  |  | $ | 22,247 |  |  | $ | 3,830 |  |  | $ | 13,422 |  |  | $ | 1,424 |  |  | $ | 39,002 |  |  | $ | — |  |  | 79,925 |
Non-Performing |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,862 |  |  | — |  |  | 2,862 |
Total |  | — |  |  | 22,247 |  |  | 3,830 |  |  | 13,422 |  |  | 1,424 |  |  | 41,864 |  |  | — |  |  | 82,787 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 2,003 |  | $ | — |  | $ | 11,891 |  | $ | — |  | $ | 570 |  | $ | — |  | $ | 4 |  |  | $ | 16 |  |  | $ | 1,172 |  |  | $ | — |  |  | 15,656 |
Non-Performing |  | — |  |  | 42 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 43 |
Total |  | 2,003 |  |  | 11,933 |  |  | 571 |  |  | 4 |  |  | 16 |  |  | 1,172 |  |  | — |  |  | 15,699 |
Gross charge-offs |  | — |  |  | 18 |  |  | 1 |  |  | — |  |  | — |  |  | 141 |  |  | — |  |  | 160 |
Total Loans (excluding gross charge-offs) |  | $ | 12,483 |  |  | $ | 93,349 |  |  | $ | 129,844 |  |  | $ | 150,116 |  |  | $ | 58,473 |  |  | $ | 178,613 |  |  | $ | — |  |  | $ | 622,878 |
Past Due Financing Receivables | The following tables present an aging analysis of the amortized cost of past due loans receivables at June 30, 2024 and March 31, 2024. .
June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
$ in thousands |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 or More Days Past Due |  | Total Past Due |  | Current |  | Total Loans Receivables
One-to-four family |  | $ | — |  |  | $ | 192 |  |  | $ | 2,034 |  |  | $ | 2,226 |  |  | $ | 77,648 |  |  | $ | 79,874 |
Multifamily |  | — |  |  | 1,902 |  |  | 754 |  |  | 2,656 |  |  | 173,339 |  |  | 175,995 |
Commercial real estate |  | — |  |  | — |  |  | 4,522 |  |  | 4,522 |  |  | 174,927 |  |  | 179,449 |
Construction |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,122 |  |  | 3,122 |
Business |  | — |  |  | 4,624 |  |  | 12,343 |  |  | 16,967 |  |  | 155,535 |  |  | 172,502 |
Consumer |  | 131 |  |  | 93 |  |  | 122 |  |  | 346 |  |  | 15,576 |  |  | 15,922 |
Total |  | $ | 131 |  |  | $ | 6,811 |  |  | $ | 19,775 |  |  | $ | 26,717 |  |  | $ | 600,147 |  |  | $ | 626,864 |
March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
$ in thousands |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 or More Days Past Due |  | Total Past Due |  | Current |  | Total Loans Receivables
One-to-four family |  | $ | 164 |  |  | $ | — |  |  | $ | 2,859 |  |  | $ | 3,023 |  |  | $ | 79,764 |  |  | $ | 82,787 |
Multifamily |  | — |  |  | — |  |  | 2,205 |  |  | 2,205 |  |  | 174,998 |  |  | 177,203 |
Commercial real estate |  | — |  |  | — |  |  | 4,660 |  |  | 4,660 |  |  | 170,724 |  |  | 175,384 |
Construction |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,203 |  |  | 2,203 |
Business |  | 1,959 |  |  | 214 |  |  | 12,071 |  |  | 14,244 |  |  | 155,358 |  |  | 169,602 |
Consumer |  | 151 |  |  | 54 |  |  | — |  |  | 205 |  |  | 15,494 |  |  | 15,699 |
Total |  | $ | 2,274 |  |  | $ | 268 |  |  | $ | 21,795 |  |  | $ | 24,337 |  |  | $ | 598,541 |  |  | $ | 622,878 |
Impaired Loans | The following table presents the amortized cost of collateral dependent loans with the associated allowance amount, if applicable, as of June 30, 2024 and March 31, 2024:
|  | At June 30, 2024 |  | At March 31, 2024
|  | Collateral Type |  |  |  | Collateral Type |  |
$ in thousands |  | Real Estate |  | Other |  | Allowance Allocated |  | Real Estate |  | Other |  | Allowance Allocated
One-to-four family |  | $ | 2,229 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,151 |  |  | $ | — |  |  | $ | — |
Multifamily |  | 2,173 |  |  | — |  |  | — |  |  | 2,485 |  |  | — |  |  | — |
Commercial real estate |  | 4,522 |  |  | — |  |  | — |  |  | 4,522 |  |  | — |  |  | — |
Business |  | 11,493 |  |  | 1,207 |  |  | 18 |  |  | 12,196 |  |  | 1,066 |  |  | 7 |
Consumer |  | — |  |  | 48 |  |  | 14 |  |  | — |  |  | 45 |  |  | 1 |
|  | $ | 20,417 |  |  | $ | 1,255 |  |  | $ | 32 |  |  | $ | 23,354 |  |  | $ | 1,111 |  |  | $ | 8 |
Real estate collateral includes one-to-four family, multifamily and commercial properties. Collateral types securing business loans include accounts receivable. There have been no significant changes to the types of collateral securing the Bank's collateral dependent loans.

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