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Loans Receivable and Allowance for Credit Losses

6 Months Ended

Sep. 30, 2025

Loans and Leases Receivable Disclosure [Abstract]

Loans Receivable and Allowance for Credit Losses

LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES

The loans receivable portfolio is segmented into one-to-four family, multifamily, commercial real estate, construction, business (including Small Business Administration loans), and consumer loans.

    The ACL reflects management’s estimate of lifetime credit losses inherent in loans as of the balance sheet date. Management uses a disciplined process and methodology to calculate the ACL each quarter. To determine the total ACL, management estimates the reserves needed for each segment of the loan portfolio, including loans analyzed individually and loans analyzed on a pooled basis.

    The following is a summary of loans receivable, net of allowance for credit losses at September 30, 2025 and March 31, 2025:

						September 30, 2025												March 31, 2025
$ in thousands						Amount						Percent						Amount						Percent
Loans receivable:
One-to-four family						$	70,936					12.0		%				$	74,387					12.1		%
Multifamily						162,435						27.4		%				165,812						27.0		%
Commercial real estate						168,016						28.3		%				178,257						29.1		%
Construction						4,693						0.8		%				4,567						0.7		%
Business (1)						161,515						27.2		%				164,964						26.9		%
Consumer (2)						25,337						4.3		%				25,697						4.2		%
Total loans receivable						$	592,932					100.0		%				$	613,684					100.0		%
Allowance for credit losses						(6,129)												(6,337)
Total loans receivable, net						$	586,803											$	607,347

(1) Includes PPP loans and business overdrafts

(2) Includes personal loans and consumer overdrafts

The totals above are shown net of deferred loan fees and costs. Net deferred loan fees totaled $2.4 million and $2.6 million at September 30, 2025 and March 31, 2025, respectively.

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 and six months ended September 30, 2025 and 2024, and the fiscal year ended March 31, 2025.

Three months ended September 30, 2025
$ in thousands						One-to-four family						Multifamily						Commercial Real Estate						Construction						Business						Consumer						Other						Total
Allowance for credit losses:
Beginning Balance						$	1,538					$	1,339					$	922					$	1					$	1,774					$	734					$	13					$	6,321
Charge-offs						—						—						—						—						(39)						(142)						—						(181)
Recoveries						—						—						—						—						2						2						—						4
Provision for (recovery of) Credit Losses						(54)						(39)						15						—						—						32						31						(15)
Ending Balance						$	1,484					$	1,300					$	937					$	1					$	1,737					$	626					$	44					$	6,129

Six months ended September 30, 2025
$ in thousands						One-to-four family						Multifamily						Commercial Real Estate						Construction						Business						Consumer						Other						Total
Allowance for credit losses:
Beginning Balance						$	1,799					$	820					$	1,465					$	3					$	1,646					$	593					$	11					$	6,337
Charge-offs						—						—						—						—						(39)						(189)						—						(228)
Recoveries						—						—						—						—						8						53						—						61
Provision for (recovery of) Credit Losses						(315)						480						(528)						(2)						122						169						33						(41)
Ending Balance						$	1,484					$	1,300					$	937					$	1					$	1,737					$	626					$	44					$	6,129
Allowance for Credit Losses Ending Balance: collectively evaluated for impairment						$	1,484					$	1,300					$	876					$	1					$	1,674					$	524					$	44					$	5,903
Allowance for Credit Losses Ending Balance: individually evaluated for impairment						—						—						61						—						63						102						—						226
Loan Receivables Ending Balance:						$	70,936					$	162,435					$	168,016					$	4,693					$	161,515					$	25,337					$	—					$	592,932
Ending Balance: collectively evaluated for impairment						68,476						156,476						159,979						4,693						147,335						25,146						—						562,105
Ending Balance: individually evaluated for impairment						2,460						5,959						8,037						—						14,180						191						—						30,827

At March 31, 2025
$ in thousands						One-to-four family						Multifamily						Commercial Real Estate						Construction						Business						Consumer						Other						Total
Allowance for Credit Losses Ending Balance:						$	1,799					$	820					$	1,465					$	3					$	1,646					$	593					$	11					$	6,337
Allowance for Credit Losses Ending Balance: collectively evaluated for impairment						1,799						820						1,404						3						1,547						560						11						6,144
Allowance for Credit Losses Ending Balance: individually evaluated for impairment						—						—						61						—						99						33						—						193
Loan Receivables Ending Balance:						$	74,387					$	165,812					$	178,257					$	4,567					$	164,964					$	25,697					$	—					$	613,684
Ending Balance: collectively evaluated for impairment						72,888						161,879						169,935						4,567						151,885						25,664						—						586,818
Ending Balance: individually evaluated for impairment						1,499						3,933						8,322						—						13,079						33						—						26,866

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- References

No definition available.

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- Definition

The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/310-10/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

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