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Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Sep. 30, 2024
Mar. 31, 2024
Cash and cash equivalents:    
Cash and due from banks $ 54,037 $ 58,522
Money market investments 508 503
Total cash and cash equivalents 54,545 59,025
Investment securities:    
Available-for-sale 48,111 48,030
Held-to-maturity 1,863 2,008
Total investment securities 49,974 50,038
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 619,214 622,878
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest (6,242) (5,871)
Financing Receivable, Excluding Accrued Interest, after Allowance for Credit Loss, Total 612,972 617,007
Premises and equipment, net 2,318 2,567
Federal Home Loan Bank of New York (“FHLB-NY”) stock, at cost 1,665 2,004
Accrued interest receivable 4,854 3,662
Right-of-use assets 9,517 9,844
Other assets 12,915 12,649
Total assets 748,760 756,796
Deposits:    
Non-interest bearing checking 102,697 102,013
Interest-bearing deposits:    
Interest-bearing checking 44,841 46,358
Savings 107,748 113,187
Money market 154,349 159,105
Certificates of deposit 239,407 223,719
Escrow 1,769 2,617
Total interest-bearing deposits 548,114 544,986
Total deposits 650,811 646,999
Advances from the FHLB-NY and other borrowed money 38,293 46,536
Operating lease liability 10,197 10,616
Other liabilities 9,589 10,336
Total liabilities 708,890 714,487
Commitments and Contingencies 0 0
EQUITY    
Common stock 77 77
Additional paid-in capital 87,687 87,660
Accumulated deficit (55,874) (51,549)
Treasury stock (2,908) (2,908)
Accumulated other comprehensive loss (10,846) (12,705)
Total equity 39,870 42,309
Total liabilities and equity $ 748,760 $ 756,796
Common Stock, Shares Issued (in shares) 7,644,675 7,644,675
Common Stock, Shares Outstanding (in shares) 5,140,872 5,140,872
Debt Securities, Available-for-sale, Amortized Cost $ 58,957 $ 60,735
Series D Preferred Stock    
Interest-bearing deposits:    
Convertible Preferred Stock, Shares Outstanding (in shares) 9,557 9,557
EQUITY    
Preferred stock $ 9,557 $ 9,557
Convertible Preferred Stock, Shares Issued (in shares) 9,557 9,557
Series E Preferred Stock    
Interest-bearing deposits:    
Convertible Preferred Stock, Shares Outstanding (in shares) 3,177 3,177
EQUITY    
Preferred stock $ 3,177 $ 3,177
Convertible Preferred Stock, Shares Issued (in shares) 3,177 3,177
Series F Preferred Stock    
Interest-bearing deposits:    
Convertible Preferred Stock, Shares Outstanding (in shares) 9,000 9,000
EQUITY    
Preferred stock $ 9,000 $ 9,000
Convertible Preferred Stock, Shares Issued (in shares) 9,000 9,000
Real Estate    
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss $ 434,081 $ 437,577
Business    
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 169,138 [1] 169,602
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest (1,539) (1,415)
Consumer    
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 15,995 [2] 15,699
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest $ (607) $ (450)
[1]
(1) Includes PPP loans and business overdrafts
[2] 2) Includes personal loans and consumer overdrafts