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Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Dec. 31, 2024
Mar. 31, 2024
Cash and cash equivalents:    
Cash and due from banks $ 49,449 $ 58,522
Money market investments 510 503
Total cash and cash equivalents 49,959 59,025
Investment securities:    
Available-for-sale 44,121 48,030
Held-to-maturity 1,807 2,008
Total investment securities 45,928 50,038
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 610,877 622,878
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest (6,057) (5,871)
Financing Receivable, Excluding Accrued Interest, after Allowance for Credit Loss, Total 604,820 617,007
Premises and equipment, net 2,166 2,567
Federal Home Loan Bank of New York (“FHLB-NY”) stock, at cost 1,665 2,004
Accrued interest receivable 2,466 3,662
Right-of-use assets 8,884 9,844
Other assets 11,642 12,649
Total assets 727,530 756,796
Deposits:    
Non-interest bearing checking 97,297 102,013
Interest-bearing deposits:    
Interest-bearing checking 43,600 46,358
Savings 107,095 113,187
Money market 151,796 159,105
Certificates of deposit 236,230 223,719
Escrow 921 2,617
Total interest-bearing deposits 539,642 544,986
Total deposits 636,939 646,999
Advances from the FHLB-NY and other borrowed money 38,281 46,536
Operating lease liability 9,539 10,616
Other liabilities 10,505 10,336
Total liabilities 695,264 714,487
Commitments and Contingencies 0 0
EQUITY    
Common stock 78 77
Additional paid-in capital 87,881 87,660
Accumulated deficit (61,522) (51,549)
Treasury stock (2,908) (2,908)
Accumulated other comprehensive loss (12,997) (12,705)
Total equity 32,266 42,309
Total liabilities and equity $ 727,530 $ 756,796
Common Stock, Shares Issued (in shares) 7,765,863 7,765,863
Common Stock, Shares Outstanding (in shares) 5,262,060 5,262,060
Debt Securities, Available-for-sale, Amortized Cost $ 57,118 $ 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 $ 431,576 $ 437,577
Business    
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss [1] 163,579 169,602
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest (1,415) (1,415)
Consumer    
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss [2] 15,722 15,699
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest $ (593) $ (450)
[1]
(1) Includes PPP loans and business overdrafts
[2] 2) Includes personal loans and consumer overdrafts