Carver Bancorp (CARV) 10-Q 12 Feb 20 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Dec. 31, 2019	Feb. 11, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	CARVER BANCORP INC
Entity Central Index Key	0001016178
Current Fiscal Year End Date	--03-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	1905
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		3,699,505
Entity Shell Company	false
Entity Smaller Reporting Company	true
Entity Emerging Growth Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes

Cover Page

Cover Page	9 Months Ended
	Dec. 31, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Entity File Number	001-13007
Entity Tax Identification Number	13-3904174
Entity Address, Postal Zip Code	10027
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	75 West 125th Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
City Area Code	(718)
Local Phone Number	230-2900
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Cash and cash equivalents:
Cash and due from banks	$ 37,473	$ 30,719
Money market investments	260	509
Total cash and cash equivalents	37,733	31,228
Investment securities:
Available-for-sale	70,443	79,845
Held-to-maturity	10,447	11,137
Total investment securities	80,890	90,982
Loans receivable:
Loans, gross	422,319	428,828
Allowance for loan losses	(4,607)	(4,646)
Total loans receivable, net	417,712	424,182
Premises and equipment, net	5,570	5,056
Federal Home Loan Bank of New York (“FHLB-NY”) stock, at cost	1,108	926
Accrued interest receivable	2,019	2,019
Right-of-use assets	18,192	0
Other assets	5,838	9,320
Total assets	569,062	563,713
Deposits:
Non-interest bearing checking	59,704	60,201
Interest-bearing deposits:
Interest-bearing checking	24,204	23,473
Savings	95,867	99,310
Money market	99,150	94,376
Certificates of deposit	184,146	200,607
Escrow	1,227	2,229
Total interest-bearing deposits	404,594	419,995
Total deposits	464,298	480,196
Advances from the FHLB-NY and other borrowed money	25,590	21,403
Operating lease liability	18,700	0
Other liabilities	10,695	14,978
Total liabilities	519,283	516,577
EQUITY
Preferred stock	45,118	45,118
Common stock	61	61
Additional paid-in capital	55,520	55,514
Accumulated deficit	(50,487)	(52,201)
Treasury stock	(417)	(417)
Accumulated other comprehensive loss	(16)	(939)
Total equity	49,779	47,136
Total liabilities and equity	569,062	563,713
Real Estate
Loans receivable:
Loans, gross	332,848	328,104
Business
Loans receivable:
Loans, gross	85,883	96,661
Allowance for loan losses	(1,484)	(1,330)
Consumer
Loans receivable:
Loans, gross	3,588	4,063
Allowance for loan losses	$ (231)	$ (154)

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition Consolidated Statements of Financial Condition Parentheticals - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Statement of Financial Position [Abstract]
Held-to-maturity, Fair Value	$ 10,604	$ 11,107
Series D Convertible Preferred Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Series D Convertible Preferred Stock, Shares Issued (in shares)	45,118	45,118
Series D Convertible Preferred Stock, Shares Outstanding (in shares)	45,118	45,118
Series D Convertible Preferred Stock, Liquidation Preference (in dollars per share)	$ 1,000	$ 1,000
Common Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	10,000,000	10,000,000
Common Stock, Shares Issued (in shares)	3,701,449	3,700,728
Common Stock, Shares Outstanding (in shares)	3,699,505	3,698,784
Treasury Stock	1,944	1,944

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Interest income:
Loans	$ 4,906	$ 4,640	$ 14,318	$ 14,757
Mortgage-backed securities	276	386	885	897
Investment securities	190	326	702	915
Money market investments	120	214	460	1,037
Total interest income	5,492	5,566	16,365	17,606
Interest expense:
Deposits	1,155	1,263	3,544	4,013
Advances and other borrowed money	308	207	776	683
Total interest expense	1,463	1,470	4,320	4,696
Net interest income	4,029	4,096	12,045	12,910
Provision for (recovery of) loan losses	8	(332)	16	(278)
Net interest income after provision for (recovery of) loan losses	4,021	4,428	12,029	13,188
Non-interest income:
Depository fees and charges	846	862	2,461	2,549
Loan fees and service charges	82	114	243	256
Gain (loss) on sale of loans, net	0	0	25	(23)
Gain on sale of building, net	0	154	0	462
Other	37	197	394	466
Total non-interest income	965	1,327	3,123	3,710
Non-interest expense:
Employee compensation and benefits	2,799	3,003	8,327	9,283
Net occupancy expense	1,097	902	3,361	3,188
Equipment, net	392	323	1,032	882
Data processing	445	457	1,271	1,294
Consulting fees	19	102	147	211
Federal deposit insurance premiums	57	170	56	666
Wire fraud loss	0	453	0	453
Other	1,613	1,660	4,583	5,217
Total non-interest expense	6,422	7,070	18,777	21,194
Loss before income taxes	(1,436)	(1,315)	(3,625)	(4,296)
Income tax expense	0	34	0	100
Net loss	$ (1,436)	$ (1,349)	$ (3,625)	$ (4,396)
Net loss per common share:
Loss per Share, Basic (in dollars per share)	$ (0.39)	$ (0.36)	$ (0.98)	$ (1.19)
Loss per Share, Diluted (in dollars per share)	$ (0.39)	$ (0.36)	$ (0.98)	$ (1.19)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss Statement - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net loss	$ (1,436)	$ (1,349)	$ (3,625)	$ (4,396)
Other comprehensive income (loss), net of tax:
Unrealized (loss) gain of securities available-for sale, net of tax	(98)	972	923	286
Total comprehensive (loss) income, net of tax	(1,534)	(377)	(2,702)	(4,110)
Change in unrealized loss of securities available-for-sale, Tax	0	0	0	0
Reclassification adjustment for gains on sale of available-for-sale securities, Tax	$ 0	$ 0	$ 0	$ 0

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock	Accumulated Other Comprehensive Loss
Equity - Beginning Balance at Mar. 31, 2018	$ 51,971	$ 45,118	$ 61	$ 55,479	$ (45,544)	$ (417)	$ (2,726)
Net loss	(4,396)	0	0	0		0	0
Other comprehensive loss, net of taxes	286	0	0	0	0	0
Stock based compensation expense	34	0	0	34	0	0	0
Equity - Ending Balance at Dec. 31, 2018	47,895	45,118	61	55,513	(50,661)	(417)	(1,719)
Equity - Beginning Balance at Sep. 30, 2018	48,270	45,118	61	55,511	(49,312)	(417)	(2,691)
Net loss	(1,349)	0	0	0		0	0
Other comprehensive loss, net of taxes	972	0	0	0	0	0	972
Stock based compensation expense	2	0	0	2	0	0	0
Equity - Ending Balance at Dec. 31, 2018	47,895	45,118	61	55,513	(50,661)	(417)	(1,719)
Cumulative Effect of New Accounting Principle | Accounting Standards Update 2016-01	0	0	0	0	(721)	0	721
Equity - Beginning Balance at Mar. 31, 2019	47,136	45,118	61	55,514	(52,201)	(417)	(939)
Net loss	(3,625)	0	0	0		0	0
Other comprehensive loss, net of taxes	923	0	0	0	0	0	923
Stock based compensation expense	6	0	0	6	0	0	0
Equity - Ending Balance at Dec. 31, 2019	49,779	45,118	61	55,520	(50,487)	(417)	(16)
Equity - Beginning Balance at Sep. 30, 2019	51,309	45,118	61	55,516	(49,051)	(417)	82
Net loss	(1,436)	0	0	0		0	0
Other comprehensive loss, net of taxes	(98)	0	0	0	0	0	(98)
Stock based compensation expense	4	0	0	4	0	0	0
Equity - Ending Balance at Dec. 31, 2019	49,779	45,118	61	55,520	(50,487)	(417)	(16)
Cumulative Effect of New Accounting Principle	5,300
Cumulative Effect of New Accounting Principle | Accounting Standards Update 2016-02	$ 5,339	$ 0	$ 0	$ 0	$ 5,339	$ 0	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows $ in Thousands	9 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (3,625)	$ (4,396)
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for (recovery of) loan losses	16	(278)
Stock based compensation expense	6	34
Depreciation and amortization expense	698	579
Gain on sale of real estate owned, net of market value adjustment	(208)	(208)
Loss on redemption of equity securities, net	0	27
(Gain) loss on sale of loans, net	(25)	23
Gain on sale of building	0	(462)
Amortization and accretion of loan premiums and discounts and deferred charges	354	375
Amortization and accretion of premiums and discounts — securities	700	355
Increase in accrued interest receivable	0	(45)
Decrease in other assets	3,478	1,049
Increase (decrease) in other liabilities	1,057	(541)
Net cash provided by (used in) operating activities	2,451	(3,488)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of investments: Available-for-sale	0	(58,220)
Proceeds from principal payments, maturities and calls of investments: Available-for-sale	9,647	6,847
Proceeds from principal payments, maturities and calls of investments: Held-to-maturity	663	704
Proceeds from redemption of equity securities	0	9,199
Repayments and maturities, net of originations of loans held-for-investment	(26,638)	(49,545)
Loans purchased from third parties	(20,902)	0
Proceeds on sale of loans	602	232
(Purchase) redemption of FHLB-NY stock, net	(182)	1,202
Purchase of premises and equipment	(1,212)	(2,861)
Proceeds from sales of real estate owned	511	1,221
Net cash provided by investing activities	15,765	7,869
CASH FLOWS FROM FINANCING ACTIVITIES
Net decrease in deposits	(15,898)	(73,866)
Net increase (decrease) in FHLB-NY advances and other borrowings	4,187	(25,000)
Net cash used in financing activities	(11,711)	(98,866)
Net increase (decrease) in cash and cash equivalents	6,505	(94,485)
Cash and cash equivalents at beginning of period	31,228	134,558
Cash and cash equivalents at end of period	37,733	40,073
Noncash financing and investing activities
Transfers to real estate owned	0	142
Recognition of right-of-use asset	19,951
Recognition of operating lease liability	18,700
Recognition of finance lease asset	216
Recognition of finance lease liability	206
Cash paid for:
Interest	3,825	3,983
Income taxes	$ 53	$ 77

Common Stock Dividends

Common Stock Dividends	9 Months Ended
	Dec. 31, 2019
Dividends [Abstract]
Stockholders' Equity Note Disclosure	COMMON STOCK DIVIDENDS        On October 28, 2011, the Treasury exchanged the CDCI Series B preferred stock for 2,321,286 shares of Carver common stock and the Series C preferred stock converted into 1,208,039 shares of Carver common stock and 45,118 shares of Series D preferred stock. Series C stock was previously reported as mezzanine equity, and upon conversion to common and Series D preferred stock is now reported as equity attributable to Carver Bancorp, Inc. The holders of the Series D Preferred Stock are entitled to receive dividends, on an as-converted basis, simultaneously to the payment of any dividends on the common stock.

Organization

Organization	9 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	ORGANIZATION Nature of operations Carver Bancorp, Inc. (on a stand-alone basis, the “Company” or “Registrant”), was incorporated in May 1996 and its principal wholly-owned subsidiary is Carver Federal Savings Bank (the “Bank” or “Carver Federal”). Carver Federal's wholly-owned subsidiaries are CFSB Realty Corp., Carver Community Development Corporation (“CCDC”) and CFSB Credit Corp., which is currently inactive. The Bank has a real estate investment trust, Carver Asset Corporation ("CAC"), that was formed in February 2004. “Carver,” the “Company,” “we,” “us” or “our” refers to the Company along with its consolidated subsidiaries. The Bank was chartered in 1948 and began operations in 1949 as Carver Federal Savings and Loan Association, a federally-chartered mutual savings and loan association. The Bank converted to a federal savings bank in 1986. On October 24, 1994, the Bank converted from a mutual holding company structure to stock form and issued 2,314,375 shares of its common stock, par value 0.01 per share. On October 17, 1996, the Bank completed its reorganization into a holding company structure (the “Reorganization”) and became a wholly-owned subsidiary of the Company. Carver Federal’s principal business consists of attracting deposit accounts through its branches and investing those funds in mortgage loans and other investments permitted by federal savings banks. The Bank has seven branches located throughout the City of New York that primarily serve the communities in which they operate. In September 2003, the Company formed Carver Statutory Trust I (the “Trust”) for the sole purpose of issuing trust preferred securities and investing the proceeds in an equivalent amount of floating rate junior subordinated debentures of the Company. In accordance with Accounting Standards Codification (“ASC”) 810, “Consolidations,” Carver Statutory Trust I is unconsolidated for financial reporting purposes. On September 17, 2003, Carver Statutory Trust I issued 13,000 shares, liquidation amount $1,000 per share, of floating rate capital securities. Gross proceeds from the sale of these trust preferred debt securities of $13 million, and proceeds from the sale of the trust's common securities of $0.4 million, were used to purchase approximately $13.4 million aggregate principal amount of the Company's floating rate junior subordinated debt securities due 2033. The trust preferred debt securities are redeemable at par quarterly at the option of the Company beginning on or after September 17, 2008, and have a mandatory redemption date of September 17, 2033. Cash distributions on the trust preferred debt securities are cumulative and payable at a floating rate per annum resetting quarterly with a margin of 3.05% over the three-month LIBOR. During the second quarter of fiscal year 2017, the Company applied for and was granted regulatory approval to settle all outstanding debenture interest payments through September 2016. Such payments were made in September 2016. Interest on the debentures has been deferred beginning with the December 2016 payment, per the terms of the agreement, which permit such deferral for up to twenty consecutive quarters, as the Company is prohibited from making payments without prior regulatory approval. The interest rate was 4.95% and the total amount of deferred interest was $2.4 million at December 31, 2019. Carver relies primarily on dividends from Carver Federal to pay cash dividends to its stockholders, to engage in share repurchase programs and to pay principal and interest on its trust preferred debt obligation. The OCC regulates all capital distributions, including dividend payments, by Carver Federal to Carver, and the FRB regulates dividends paid by Carver. As the subsidiary of a savings and loan association holding company, Carver Federal must file a notice or an application (depending on the proposed dividend amount) with the OCC (and a notice with the FRB) prior to the declaration of each capital distribution. The OCC will disallow any proposed dividend, for among other reasons, that would result in Carver Federal’s failure to meet the OCC minimum capital requirements. In accordance with the Agreement defined directly below, Carver Federal is currently prohibited from paying any dividends without prior OCC approval, and, as such, has suspended Carver’s regular quarterly cash dividend on its common stock. There are no assurances that dividend payments to Carver will resume. Regulation On October 23, 2015, the Board of Directors of the Company adopted resolutions requiring, among other things, written approval from the Federal Reserve Bank of Philadelphia prior to the declaration or payment of dividends, any increase in debt by the Company, or the redemption of Company common stock. On May 24, 2016, the Bank entered into a Formal Agreement ("the Agreement") with the OCC to undertake certain compliance-related and other actions as further described in the Company’s Current Report on Form 8-K as filed with the

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of consolidated financial statement presentation The consolidated financial statements include the accounts of the Company, the Bank and the Bank’s wholly-owned or majority-owned subsidiaries, Carver Asset Corporation, CFSB Realty Corp., CCDC, and CFSB Credit Corp., which is currently inactive. All significant intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine month periods ended December 31, 2019 are not necessarily indicative of the results that may be expected for the year ended March 31, 2020. The consolidated balance sheet at December 31, 2019 has been derived from the unaudited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated statement of financial condition and revenues and expenses for the period then ended. These unaudited consolidated financial statements should be read in conjunction with the Annual Report on Form 10-K for the year ended March 31, 2019. Amounts subject to significant estimates and assumptions are items such as the allowance for loan losses, realization of deferred tax assets, assessment of other-than-temporary impairment of securities, and the fair value of financial instruments. While management uses available information to recognize losses on loans, future additions to the allowance for loan losses or future writedowns of real estate owned may be necessary based on changes in economic conditions in the areas where Carver Federal has extended mortgages and other credit instruments. Actual results could differ significantly from those assumptions. Current market conditions increase the risk and complexity of the judgments in these estimates. Certain comparative amounts for the prior period have been reclassified to conform to current period presentations. Such reclassifications had no effect on net income or shareholders' equity.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Common Share	PER COMMON SHARE The following table reconciles the net loss (numerator) and the weighted average common stock outstanding (denominator) for both basic and diluted loss per share for the following periods: Three Months Ended December 31, Nine Months Ended $ in thousands except per share data 2019 2018 2019 2018 Net loss $ (1,436) $ (1,349) (3,625) (4,396) Weighted average common shares outstanding - basic 3,699,406 3,698,701 3,699,203 3,698,424 Weighted average common shares outstanding – diluted 3,699,406 3,698,701 3,699,203 3,698,424 Basic loss per common share $ (0.39) $ (0.36) $ (0.98) $ (1.19) Diluted loss per common share $ (0.39) $ (0.36) $ (0.98) $ (1.19) For the three and nine months ended December 31, 2019 and 2018, all restricted shares and outstanding stock options were anti-dilutive.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	9 Months Ended
	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Comprehensive Income (Loss) Note	OTHER COMPREHENSIVE INCOME (LOSS) The following tables set forth changes in each component of accumulated other comprehensive income (loss), net of tax for the nine months ended December 31, 2019 and 2018: $ in thousands At Other At Net unrealized income (loss) on securities available-for-sale $ (939) $ 923 $ (16) $ in thousands At ASU 2016-01 reclassification Other At Net unrealized income (loss) on securities available-for-sale $ (2,726) $ 721 $ 286 $ (1,719)

Investment Securities

Investment Securities	9 Months Ended
	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Investment Securities	INVESTMENT SECURITIES The Bank utilizes mortgage-backed and other investment securities in its asset/liability management strategy. In making investment decisions, the Bank considers, among other things, its yield and interest rate objectives, its interest rate and credit risk position, and its liquidity and cash flow. Generally, the investment policy of the Bank is to invest funds among categories of investments and maturities based upon the Bank’s asset/liability management policies, investment quality, loan and deposit volume and collateral requirements, liquidity needs and performance objectives. GAAP requires that securities be classified into three categories: trading, held-to-maturity, and available-for-sale. At December 31, 2019, $70.4 million, or 87.1%, of the Bank’s total securities were classified as available-for-sale, and $10.4 million, or 12.9%, were classified as held-to-maturity. The Bank had no securities classified as trading at December 31, 2019 and March 31, 2019. Equity securities as of December 31, 2019 consist of the Bank's investment in a limited partnership Community Capital Fund. As of December 31, 2018, equity investments also included the Bank's investment in a Community Reinvestment Act ("CRA") mutual fund. As a result of the adoption of ASU 2016-01 in April 2018, the Company determined that these investments fall under the provisions of ASU 2016-01, and accordingly, were transferred from available-for-sale and reclassified into equity securities on the Statement of Financial Condition. These securities are measured at fair value with unrealized holding gains and losses reflected in net income. Effective April 1, 2018, the Company recorded a cumulative effect adjustment of $721 thousand as a reclassification from accumulated other comprehensive loss to retained earnings. Additionally, all subsequent changes in fair value have been recognized in the Statements of Operations. The Bank redeemed its $9.2 million investment in the CRA mutual fund during the third quarter of fiscal year 2019. Other investments totaled $629 thousand at December 31, 2019 and are included in Other Assets on the Statements of Financial Condition. The following tables set forth the amortized cost and fair value of securities available-for-sale and held-to-maturity at December 31, 2019 and March 31, 2019: At December 31, 2019 Amortized Gross Unrealized $ in thousands Cost Gains Losses Fair Value Available-for-Sale: Mortgage-backed securities: Government National Mortgage Association $ 3,717 $ 23 $ 21 $ 3,719 Federal Home Loan Mortgage Corporation 9,824 116 14 9,926 Federal National Mortgage Association 24,265 287 235 24,317 Total mortgage-backed securities 37,806 426 270 37,962 U.S. Government Agency Securities 28,621 — 225 28,396 Corporate Bonds 4,037 50 2 4,085 Total available-for-sale $ 70,464 $ 476 $ 497 $ 70,443 Held-to-Maturity: Mortgage-backed securities: Government National Mortgage Association $ 1,044 $ 66 $ — $ 1,110 Federal National Mortgage Association and Other 8,403 90 6 8,487 Total held-to-maturity mortgage-backed securities 9,447 156 6 9,597 Corporate Bonds 1,000 7 — 1,007 Total held-to maturity $ 10,447 $ 163 $ 6 $ 10,604 At March 31, 2019 Amortized Gross Unrealized $ in thousands Cost Gains Losses Fair Value Available-for-Sale: Mortgage-backed securities: Government National Mortgage Association $ 4,443 $ 25 $ 86 $ 4,382 Federal Home Loan Mortgage Corporation 11,104 69 148 11,025 Federal National Mortgage Association 27,094 131 617 26,608 Total mortgage-backed securities 42,641 225 851 42,015 U.S. Government Agency Securities 33,089 — 236 32,853 Corporate Bonds 5,054 — 77 4,977 Total available-for-sale $ 80,784 $ 225 $ 1,164 $ 79,845 Held-to-Maturity: Mortgage-backed securities: Government National Mortgage Association $ 1,214 $ 40 $ — $ 1,254 Federal National Mortgage Association and Other 8,923 — 87 8,836 Total held-to-maturity mortgage-backed securities 10,137 40 87 10,090 Corporate Bonds 1,000 17 — 1,017 Total held-to-maturity $ 11,137 $ 57 $ 87 $ 11,107 There were no sales of available-for-sale and held-to-maturity securities for the three and nine months ended December 31, 2019 and 2018. The following tables set forth the unrealized losses and fair value of securities in an unrealized loss position at December 31, 2019 and March 31, 2019 for less than 12 months and 12 months or longer: At December 31, 2019 Less than 12 months 12 months or longer Total $ in thousands Unrealized Fair Unrealized Fair Unrealized Fair Available-for-Sale: Mortgage-backed securities $ 29 $ 3,424 $ 241 $ 14,598 $ 270 $ 18,022 U.S. Government Agency securities 94 10,660 131 17,736 225 28,396 Corporate Bonds — — 2 2,010 2 2,010 Total available-for-sale securities $ 123 $ 14,084 $ 374 $ 34,344 $ 497 $ 48,428 Held-to-Maturity: Mortgage-backed securities $ — $ — $ 6 $ 1,216 $ 6 $ 1,216 Total held-to-maturity securities $ — $ — $ 6 $ 1,216 $ 6 $ 1,216 At March 31, 2019 Less than 12 months 12 months or longer Total $ in thousands Unrealized Fair Unrealized Fair Unrealized Fair Available-for-Sale: Mortgage-backed securities $ — $ — $ 851 $ 26,787 $ 851 $ 26,787 U.S. Government Agency securities 23 20,851 213 12,002 236 32,853 Corporate bonds — — 77 4,977 77 4,977 Total available-for-sale securities $ 23 $ 20,851 $ 1,141 $ 43,766 $ 1,164 $ 64,617 Held-to-Maturity: Mortgage-backed securities $ — $ — $ 87 $ 8,752 $ 87 $ 8,752 Total held-to-maturity securities $ — $ — $ 87 $ 8,752 $ 87 $ 8,752 A total of 22 securities had an unrealized loss at December 31, 2019 compared to 35 at March 31, 2019. U.S. government agency securities and mortgage-backed securities represented 58.6% and 37.2%, respectively, of total available-for-sale securities in an unrealized loss position at December 31, 2019. There were 11 mortgage-backed securities, two corporate bonds, and three U.S. government agency securities, that had an unrealized loss position for more than 12 months at December 31, 2019. The Bank had one mortgage-backed security in the held-to-maturity portfolio that had an unrealized loss position for more than 12 months. Given the high credit quality of the securities which are backed by the U.S. government's guarantees, and the corporate securities which are all reputable institutions in good financial standing, the risk of credit loss is minimal. Management believes that these unrealized losses are a direct result of the current rate environment and that the Company has the ability and intent to hold the securities until maturity or until the valuations recover. The amount of an other-than-temporary impairment when there are credit and non-credit losses on a debt security which management does not intend to sell, and for which it is more likely than not that the Company will not be required to sell the security prior to the recovery of the non-credit impairment is accounted for as follows: (1) the portion of the total impairment that is attributable to the credit loss would be recognized in earnings, and (2) the remaining difference between the debt security's amortized cost basis and its fair value would be included in other comprehensive income (loss). The Bank did not have any other securities that were classified as having other-than-temporary impairment in its investment portfolio at December 31, 2019. The following is a summary of the amortized cost and fair value of debt securities at December 31, 2019, by remaining period to contractual maturity (ignoring earlier call dates, if any). Actual maturities may differ from contractual maturities because certain security issuers have the right to call or prepay their obligations. The table below does not consider the effects of possible prepayments or unscheduled repayments. $ in thousands Amortized Cost Fair Value Weighted Available-for-Sale: Less than one year $ 3,006 $ 3,004 1.61 % One through five years 4,952 4,908 1.78 % Five through ten years 14,454 14,438 2.40 % After ten years 48,052 48,093 2.34 % Total $ 70,464 $ 70,443 2.29 % Held-to-maturity: One through five years $ 4,469 $ 4,515 2.39 % Five through ten years 4,003 4,067 3.33 % After ten years 1,975 2,022 2.86 % Total $ 10,447 $ 10,604 2.84 %

Loans Receivable and Allowance

Loans Receivable and Allowance for Loan and Lease Losses	9 Months Ended
	Dec. 31, 2019
Loans and Leases Receivable Disclosure [Abstract]
Loans Receivable and Allowance for Loan and Lease Losses	LOANS RECEIVABLE AND ALLOWANCE FOR LOAN AND LEASE LOSSES The loans receivable portfolio is segmented into one-to-four family, multifamily, commercial real estate, business (including Small Business Administration loans), and consumer loans. The allowance for loan and lease losses ("ALLL") reflects management’s judgment in the evaluation of probable loan losses inherent in the portfolio at the balance sheet date. Management uses a disciplined process and methodology to calculate the ALLL each quarter. To determine the total ALLL, management estimates the reserves needed for each segment of the loan portfolio, including loans analyzed individually and loans analyzed on a pooled basis. From time to time, events or economic factors may affect the loan portfolio, causing management to provide additional or to release reserves from the ALLL. The ALLL is sensitive to risk ratings assigned to individually evaluated loans and economic assumptions and delinquency trends. Individual loan risk ratings are evaluated based on the specific facts related to that loan. Additions to the ALLL are made by charges to the provision for loan losses. Credit exposures deemed to be uncollectible are charged against the ALLL, while recoveries of previously charged off amounts are credited to the ALLL. The following is a summary of loans receivable at December 31, 2019 and March 31, 2019: December 31, 2019 March 31, 2019 $ in thousands Amount Percent Amount Percent Gross loans receivable: One-to-four family $ 111,218 26.6 % $ 108,363 25.5 % Multifamily 83,503 19.9 % 86,177 20.2 % Commercial real estate 134,884 32.2 % 130,812 30.7 % Business (1) 85,646 20.5 % 96,430 22.7 % Consumer (2) 3,552 0.8 % 4,023 0.9 % Total loans receivable $ 418,803 100.0 % $ 425,805 100.0 % Unamortized premiums, deferred costs and fees, net 3,516 3,023 Allowance for loan losses (4,607) (4,646) Total loans receivable, net $ 417,712 $ 424,182 (1) Includes business overdrafts (2) Includes personal loans and consumer overdrafts The following is an analysis of the allowance for loan losses based upon the method of evaluating loan impairment for the three and nine month periods ended December 31, 2019 and 2018, and the fiscal year ended March 31, 2019. Three months ended December 31, 2019 $ in thousands One-to-four Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance 1,289 884 695 1,491 248 18 $ 4,625 Charge-offs (12) — — (13) (8) — (33) Recoveries — — — 7 — — 7 Provision for (recovery of) Loan Losses (96) 36 (4) (1) (9) 82 8 Ending Balance $ 1,181 $ 920 $ 691 $ 1,484 $ 231 $ 100 $ 4,607 Nine months ended December 31, 2019 $ in thousands One-to-four Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1,274 $ 885 $ 766 $ 1,330 $ 154 $ 237 $ 4,646 Charge-offs (12) — — (69) (81) — (162) Recoveries 8 — — 97 2 — 107 Provision for (recovery of) Loan Losses (89) 35 (75) 126 156 (137) 16 Ending Balance $ 1,181 $ 920 $ 691 $ 1,484 $ 231 $ 100 $ 4,607 Allowance for Loan Losses Ending Balance: collectively evaluated for impairment $ 1,023 $ 920 $ 691 $ 1,474 $ 231 $ 100 $ 4,439 Allowance for Loan Losses Ending Balance: individually evaluated for impairment 158 — — 10 — — 168 Loan Receivables Ending Balance: $ 113,352 $ 84,072 $ 135,424 $ 85,883 $ 3,588 $ — $ 422,319 Ending Balance: collectively evaluated for impairment 108,250 83,694 135,424 82,438 3,588 — 413,394 Ending Balance: individually evaluated for impairment 5,102 378 — 3,445 — — 8,925 At March 31, 2019 $ in thousands One-to-four family Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for Loan Losses Ending Balance: collectively evaluated for impairment $ 1,103 $ 885 $ 766 $ 1,312 $ 154 $ 237 $ 4,457 Allowance for Loan Losses Ending Balance: individually evaluated for impairment 171 — — 18 — — 189 Loan Receivables Ending Balance: $ 109,926 $ 86,886 $ 131,292 $ 96,661 $ 4,063 $ — $ 428,828 Ending Balance: collectively evaluated for impairment 104,509 83,672 130,816 93,399 4,063 — 416,459 Ending Balance: individually evaluated for impairment 5,417 3,214 476 3,262 — — 12,369 Three months ended December 31, 2018 $ in thousands One-to-four family Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1,481 $ 939 $ 702 $ 1,530 $ 140 $ — $ 4,792 Charge-offs (6) — — (490) (7) — (503) Recoveries 186 — — 658 1 — 845 Provision for (recovery of) Loan Losses (198) (65) 36 (320) (12) 227 (332) Ending Balance $ 1,463 $ 874 $ 738 $ 1,378 $ 122 $ 227 $ 4,802 Nine months ended December 31, 2018 $ in thousands One-to-four family Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1,210 $ 1,819 $ 1,052 $ 1,003 $ 18 $ 24 $ 5,126 Charge-offs (151) (100) — (830) (12) — (1,093) Recoveries 186 158 — 667 36 — 1,047 Provision for (recovery of) Loan Losses 218 (1,003) (314) 538 80 203 (278) Ending Balance $ 1,463 $ 874 $ 738 $ 1,378 $ 122 $ 227 $ 4,802 The following is a summary of nonaccrual loans at December 31, 2019 and March 31, 2019. $ in thousands December 31, 2019 March 31, 2019 Gross loans receivable: One-to-four family $ 4,053 $ 4,488 Multifamily 378 3,214 Commercial real estate — 476 Business 2,754 2,051 Consumer 8 65 Total nonaccrual loans $ 7,193 $ 10,294 Nonaccrual loans generally consist of loans for which the accrual of interest has been discontinued as a result of such loans becoming 90 days or more delinquent as to principal and/or interest payments. Interest income on nonaccrual loans is recorded when received based upon the collectability of the loan. At December 31, 2019, other non-performing assets totaled $120 thousand which consisted of other real estate owned comprised of two foreclosed residential properties, compared to $404 thousand comprised of four residential properties at March 31, 2019. Although we believe that substantially all risk elements at December 31, 2019 have been disclosed, it is possible that for a variety of reasons, including economic conditions, certain borrowers may be unable to comply with the contractual repayment terms on certain real estate and commercial loans. The Bank utilizes an internal loan classification system as a means of reporting problem loans within its loan categories. Loans may be classified as “Pass,” “Special Mention,” “Substandard,” “Doubtful,” and “Loss.” Loans rated Pass have demonstrated satisfactory asset quality, earning history, liquidity, and other adequate margins of creditor protection. They represent a moderate credit risk and some degree of financial stability. Loans are considered collectible in full, but perhaps require greater than average amount of loan officer attention. Borrowers are capable of absorbing normal setbacks without failure. Loans rated Special Mention have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Bank's credit position at some future date. Loans rated Substandard are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Loans rated Doubtful have all the weaknesses inherent in those classified Substandard with the added characteristic that the weaknesses present make collection or liquidation in full, based on currently existing facts, conditions and values, highly questionable and improbable. Loans classified as Loss are those considered uncollectible with insignificant value and are charged off immediately to the allowance for loan losses. One-to-four family residential loans and consumer and other loans are rated non-performing if they are delinquent in payments ninety or more days, a troubled debt restructuring with less than six months contractual performance or past maturity. All other one-to-four family residential loans and consumer and other loans are performing loans. At December 31, 2019, and based on the most recent analysis performed in the current quarter, the risk category by class of loans is as follows: $ in thousands Multifamily Commercial Business Credit Risk Profile by Internally Assigned Grade: Pass $ 83,694 $ 134,803 $ 78,458 Special Mention — 621 3,951 Substandard 378 — 3,474 Total $ 84,072 $ 135,424 $ 85,883 One-to-four family Consumer Credit Risk Profile Based on Payment Activity: Performing $ 109,299 $ 3,580 Non-Performing 4,053 8 Total $ 113,352 $ 3,588 At March 31, 2019, and based on the most recent analysis performed, the risk category by class of loans is as follows: $ in thousands Multifamily Commercial Real Estate Business Credit Risk Profile by Internally Assigned Grade: Pass $ 83,672 $ 128,319 $ 90,336 Special Mention — 2,497 2,425 Substandard 3,214 476 3,900 Total $ 86,886 $ 131,292 $ 96,661 One-to-four family Consumer Credit Risk Profile Based on Payment Activity: Performing $ 106,531 $ 4,063 Non-Performing 3,395 — Total $ 109,926 $ 4,063 The following table presents an aging analysis of the recorded investment of past due loans receivables at December 31, 2019 and March 31, 2019. December 31, 2019 $ in thousands 30-59 Days 60-89 Days 90 or More Days Past Due Total Past Current Total Loans One-to-four family $ 1,196 $ — $ 3,668 $ 4,864 $ 108,488 $ 113,352 Multifamily — 505 — 505 83,567 84,072 Commercial real estate 4,651 1,333 — 5,984 129,440 135,424 Business 2,777 4 1,830 4,611 81,272 85,883 Consumer 2 6 — 8 3,580 3,588 Total $ 8,626 $ 1,848 $ 5,498 $ 15,972 $ 406,347 $ 422,319 March 31, 2019 $ in thousands 30-59 Days 60-89 Days 90 or More Days Past Due Total Past Current Total Loans Receivables One-to-four family $ 1,827 $ — $ 3,395 $ 5,222 $ 104,704 $ 109,926 Multifamily 2,580 — 2,118 4,698 82,188 86,886 Commercial real estate 121 — — 121 131,171 131,292 Business 780 — 599 1,379 95,282 96,661 Consumer 87 53 65 205 3,858 4,063 Total $ 5,395 $ 53 $ 6,177 $ 11,625 $ 417,203 $ 428,828 The following table presents information on impaired loans with the associated allowance amount, if applicable, at December 31, 2019 and March 31, 2019. At December 31, 2019 At March 31, 2019 $ in thousands Recorded Unpaid Associated Recorded Unpaid Associated With no specific allowance recorded: One-to-four family $ 4,291 $ 5,296 $ — $ 4,488 $ 5,643 $ — Multifamily 378 378 — 3,214 3,214 — Commercial real estate — — — 476 476 — Business 2,774 2,847 — 1,974 2,017 — With an allowance recorded: One-to-four family 811 806 158 929 929 171 Business 671 671 10 1,288 1,288 18 Total $ 8,925 $ 9,998 $ 168 $ 12,369 $ 13,567 $ 189 The following tables presents information on average balances of impaired loans and the interest income recognized on a cash basis for the three and nine month periods ended December 31, 2019 and 2018. For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 $ in thousands Average Balance Interest Income Recognized Average Balance Interest Income Recognized Average Balance Interest Income Recognized Average Balance Interest Income Recognized With no specific allowance recorded: One-to-four family $ 4,143 $ 14 $ 4,608 $ 25 $ 4,390 $ 43 $ 4,973 $ 60 Multifamily 1,406 14 2,518 11 1,796 45 1,836 29 Commercial real estate — — 486 8 238 — 1,011 16 Business 2,096 16 1,204 — 2,374 41 1,192 6 With an allowance recorded: One-to-four family 813 — 938 — 870 — 1,000 — Multifamily — — — — — — 371 — Business 780 — 2,428 — 979 — 2,239 4 Total $ 9,238 $ 44 $ 12,182 $ 44 $ 10,647 $ 129 $ 12,622 $ 115 Troubled debt restructured ("TDR") loans consist of modified loans where borrowers have been granted concessions in regards to the terms of their loans due to financial or other difficulties, which rendered them unable to repay their loans under the original contractual terms. Total TDR loans at December 31, 2019 were $4.3 million, $2.6 million of which were non-performing as they were either not consistently performing in accordance with their modified terms or not performing in accordance with their modified terms for at least six months. At March 31, 2019, total TDR loans were $5.4 million, of which $3.2 million were non-performing. In certain circumstances, the Bank will modify a loan as part of a TDR under GAAP. Situations around these modifications may include extension of maturity date, reduction in the stated interest rate, rescheduling of future cash flows, reduction in the face amount of the debt or reduction of past accrued interest. Loans modified in TDRs are placed on nonaccrual status until the Company determines that future collection of principal and interest is reasonably assured, which generally requires that the borrower demonstrate performance according to the restructured terms for a period of at least six months. There were no loan modifications made during the three and nine month periods ended December 31, 2019. There were two loan modification made during the three month period and three modifications made during the nine month period ended December 31, 2018. The following table presents an analysis of the loan modifications that were classified as TDRs during the three and nine month periods ended December 31, 2018. Modifications to loans during the three month period ended Modifications to loans during the nine month period ended December 31, 2018 December 31, 2018 $ in thousands Number of loans Pre-modification outstanding recorded investment Post-Modification Recorded investment Pre-Modification rate Post-Modification rate Number of loans Pre-modification outstanding recorded investment Post-Modification Recorded investment Pre-Modification rate Post-Modification rate Business 2 $ 1,014 $ 648 6.11 % 6.24 % 3 $ 2,776 $ 2,360 6.51 % 6.06 % In an effort to proactively resolve delinquent loans, the Bank has selectively extended to certain borrowers concessions such as extensions, rate reductions or forbearance agreements. For the periods ended December 31, 2019 and 2018, there were no modified loans that defaulted within 12 months of modification. At December 31, 2019, there were 6 loans in the TDR portfolio totaling $1.8 million that were on accrual status as the Company has determined that future collection of the principal and interest is reasonably assured. These have generally performed according to restructured terms for a period of at least six months. At March 31, 2019, there were 8 loans in the TDR portfolio totaling $2.2 million that were on accrual status. Transactions With Certain Related Persons Federal law requires that all loans or extensions of credit to executive officers and directors must be made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with the general public and must not involve more than the normal risk of repayment or present other unfavorable features. The aggregate amount of loans outstanding to related parties was $70 thousand at December 31, 2019 and $80 thousand at March 31, 2019. During the nine months ended December 31, 2019, principal repayments totaled $10 thousand. Furthermore, loans above the greater of $25,000, or 5% of Carver Federal’s capital and surplus (up to $500,000), to Carver Federal’s directors and executive officers must be approved in advance by a majority of the disinterested members of Carver Federal’s Board of Directors.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Per GAAP, fair value is an “exit” price, representing the amount that would be received when selling an asset, or paid when transferring a liability, in an orderly transaction between market participants. Fair value is thus a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: • Level 1— Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2— Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ◦ Level 3— Inputs to the valuation methodology are unobservable and significant to the fair value measurement. A financial instrument’s categorization within this valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following table presents, by valuation hierarchy, assets that are measured at fair value on a recurring basis as of December 31, 2019 and March 31, 2019, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates: Fair Value Measurements at December 31, 2019, Using $ in thousands Quoted Prices in Active Markets for Identical Assets Significant Other Significant Total Fair Mortgage servicing rights $ — $ — $ 172 $ 172 Investment securities Available-for-sale: Mortgage-backed securities: Government National Mortgage Association — 3,719 — 3,719 Federal Home Loan Mortgage Corporation — 9,926 — 9,926 Federal National Mortgage Association — 24,317 — 24,317 U.S. Government Agency Securities — 28,396 — 28,396 Corporate bonds — 4,085 — 4,085 Total available-for-sale securities — 70,443 — 70,443 Total $ — $ 70,443 $ 172 $ 71,244 Fair Value Measurements at March 31, 2019, Using $ in thousands Quoted Prices in Significant Other Significant Total Fair Mortgage servicing rights $ — $ — $ 180 $ 180 Investment securities Available-for-sale: Mortgage-backed securities: Government National Mortgage Association — 4,382 — 4,382 Federal Home Loan Mortgage Corporation — 11,025 — 11,025 Federal National Mortgage Association — 26,608 — 26,608 U.S. Government Agency securities — 32,853 — 32,853 Corporate bonds — 4,977 — 4,977 Total available-for-sale securities — 79,845 — 79,845 Total $ — $ 79,845 $ 180 $ 80,479 Instruments for which unobservable inputs are significant to their fair value measurement (i.e., Level 3) include mortgage servicing rights (“MSR”) and other investments. Level 3 assets accounted for 0.1% of the Company’s total assets measured at fair value at December 31, 2019 and March 31, 2019. The Company reviews and updates the fair value hierarchy classifications on a quarterly basis. Changes from one quarter to the next that are related to the observable inputs to a fair value measurement may result in a reclassification from one hierarchy level to another. Below is a description of the methods and significant assumptions utilized in estimating the fair value of available-for-sale securities and MSR: Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available for the specific security, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flows. These pricing models primarily use market-based or independently sourced market parameters as inputs, including, but not limited to, yield curves, interest rates, equity or debt prices, and credit spreads. In addition to market information, models also incorporate transaction details, such as maturity and cash flow assumptions. Securities valued in this manner would generally be classified within Level 2 of the valuation hierarchy and primarily include such instruments as mortgage-related securities and corporate debt. In the nine month period ended December 31, 2019, there were no transfers of investments into or out of each level of the fair value hierarchy. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within Level 3 of the valuation hierarchy. In valuing certain securities, the determination of fair value may require benchmarking to similar instruments or analyzing default and recovery rates. Quoted price information for the MSRs is not available. Therefore, MSRs are valued using market-standard models to model the specific cash flow structure. Key inputs to the model consist of principal balance of loans being serviced, servicing fees and discount and prepayment rates. The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes its valuation methods are appropriate and consistent with those of other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The following table includes a rollforward of assets classified by the Company within Level 3 of the valuation hierarchy for the nine months ended December 31, 2019 and 2018: $ in thousands Beginning balance, Total Realized/Unrealized Gains/(Losses) Recorded in Income (1) Issuances / (Settlements) Transfers to/(from) Level 3 Ending balance, Change in Unrealized Gains/(Losses) Related to Instruments Held at December 31, 2019 Mortgage servicing rights 180 (8) — — 172 (7) $ in thousands Beginning balance, Total Realized/Unrealized Gains/(Losses) Recorded in Income (1) Issuances / (Settlements) Transfers to/(from) Level 3 Ending balance, Change in Unrealized Gains/(Losses) Related to Instruments Held at December 31, 2018 Mortgage servicing rights 181 28 — — 209 26 (1) Includes net servicing cash flows and the passage of time. For Level 3 assets measured at fair value on a recurring basis as of December 31, 2019 and March 31, 2019, the significant unobservable inputs used in the fair value measurements were as follows: $ in thousands Fair Value Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Mortgage servicing rights 172 Discounted Cash Flow Weighted Average Constant Prepayment Rate (1) 9.41 % Option Adjusted Spread ("OAS") applied to Treasury curve 1200 basis points $ in thousands Fair Value Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Mortgage servicing rights 180 Discounted Cash Flow Weighted Average Constant Prepayment Rate (1) 11.19 % Option Adjusted Spread ("OAS" applied to Treasury curve 1000 basis points (1) Represents annualized loan repayment rate assumptions Certain assets are measured at fair value on a non-recurring basis. Such instruments are subject to fair value adjustments under certain circumstances (e.g. when there is evidence of impairment). The following table presents assets and liabilities that were measured at fair value on a non-recurring basis as of December 31, 2019 and March 31, 2019, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates: Fair Value Measurements at December 31, 2019, Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Fair Value $ in thousands (Level 1) (Level 2) (Level 3) Impaired loans $ — $ — $ 1,314 $ 1,314 Other real estate owned — — 120 $ 120 Fair Value Measurements at March 31, 2019, Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Fair Value $ in thousands (Level 1) (Level 2) (Level 3) Impaired loans $ — $ — $ 2,027 $ 2,027 Other real estate owned — — 404 $ 404 For Level 3 assets measured at fair value on a non-recurring basis as of December 31, 2019 and March 31, 2019, the significant unobservable inputs used in the fair value measurements were as follows: $ in thousands Fair Value Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Impaired loans $ 1,314 Appraisal of collateral Appraisal adjustments 7.5% cost to sell Other real estate owned 120 Appraisal of collateral Appraisal adjustments 7.5% cost to sell $ in thousands Fair Value March 31, 2019 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Impaired loans $ 2,027 Appraisal of collateral Appraisal adjustments 7.5% cost to sell Other real estate owned 404 Appraisal of collateral Appraisal adjustments 7.5% cost to sell The fair values of collateral dependent impaired loans are determined using various valuation techniques, including consideration of appraised values and other pertinent real estate market data. Other real estate owned represents property acquired by the Bank in settlement of loans less costs to sell (i.e., through foreclosure, repossession or as an in-substance foreclosure). These assets are recorded at the lower of their cost or fair value. At the time of acquisition of the real estate owned, the real property value is adjusted to its current fair value. Any subsequent adjustments will be to the lower of cost or market.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS Disclosures regarding the fair value of financial instruments are required to include, in addition to the carrying value, the fair value of certain financial instruments, both assets and liabilities recorded on and off-balance sheet, for which it is practicable to estimate fair value. Accounting guidance defines financial instruments as cash, evidence of ownership of an entity, or a contract that conveys or imposes on an entity the contractual right or obligation to either receive or deliver cash or another financial instrument. The fair value of a financial instrument is discussed below. In cases where quoted market prices are not available, estimated fair values have been determined by the Bank using the best available data and estimation methodology suitable for each such category of financial instruments. For those loans and deposits with floating interest rates, it is presumed that estimated fair values generally approximate their recorded carrying value. The Bank's primary component of market risk is interest rate volatility. Fluctuations in interest rates will ultimately impact the Bank's fair value of all interest-earning assets and interest-bearing liabilities, other than those which are short-term in maturity. The carrying amounts and estimated fair values of the Bank’s financial instruments and estimation methodologies at December 31, 2019 and March 31, 2019 are as follows: December 31, 2019 $ in thousands Carrying Estimated Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets: Cash and cash equivalents $ 37,733 $ 37,733 $ 37,733 $ — $ — Securities available-for-sale 70,443 70,443 — 70,443 — Securities held-to-maturity 10,447 10,604 — 10,604 — Loans receivable 417,712 422,890 — — 422,890 Accrued interest receivable 2,019 2,019 — 2,019 — Mortgage servicing rights 172 172 — — 172 Other assets - Interest-bearing deposits 980 980 — 980 — Financial Liabilities: Deposits $ 464,298 $ 463,869 $ 278,925 $ 184,944 $ — Advances from FHLB of New York 12,000 11,999 — 11,999 — Other borrowed money 13,403 13,371 — 13,371 — Accrued interest payable 2,426 2,426 — 2,426 — March 31, 2019 $ in thousands Carrying Estimated Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets: Cash and cash equivalents $ 31,228 $ 31,228 $ 31,228 $ — $ — Securities available-for-sale 79,845 79,845 — 79,845 — Securities held-to-maturity 11,137 11,107 — 11,107 — Loans receivable 424,182 424,013 — — 424,013 Accrued interest receivable 2,019 2,019 — 2,019 — Mortgage servicing rights 180 180 — — 180 Other assets - Interest-bearing deposits 976 976 — 976 — Financial Liabilities: Deposits $ 480,196 $ 477,503 $ 277,360 $ 200,143 $ — Advances from FHLB of New York 8,000 8,001 — 8,001 — Other borrowed money 13,403 12,393 — 12,393 — Accrued interest payable 1,931 1,931 — 1,931 — Securities The fair values for securities available-for-sale, securities held-to-maturity and equity securities are based on quoted market or dealer prices, if available. If quoted market or dealer prices are not available, fair value is estimated using quoted market or dealer prices for similar securities. Available-for-sale securities and equity securities are classified across Levels 1, 2 and 3. Held-to-maturity securities are classified as Level 2. Mortgage Servicing Rights The fair value of mortgage servicing rights is determined by discounting the present value of estimated future servicing cash flows using current market assumptions for prepayments, servicing costs and other factors and are classified as Level 3.

Non-interest Revenue and Expens

Non-interest Revenue and Expense	9 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	NON-INTEREST REVENUE AND EXPENSE On April 1, 2018, the Company adopted ASU No, 2014-09, "Revenue from Contracts with Customers (Topic 606)" and all subsequent ASUs that modified Topic 606. As stated in Note 12, Impact of Recent Accounting Standards, the implementation of the new standard did not have a material impact to the Company's consolidated financial statements and as such, management determined that a cumulative effect adjustment to opening retained earnings was not deemed necessary. Results for reporting periods beginning after April 1, 2018 are presented under Topic 606, while prior period amounts were not adjusted and continue to be reported in accordance with the previous accounting guidance under Topic 605. Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. In addition, certain non-interest income streams such as gains on sales of residential mortgage and SBA loans, income associated with servicing assets, and loan fees, including residential mortgage originations to be sold and prepayment and late fees charged across all loan categories are also not in scope of the new guidance. Topic 606 is applicable to non-interest revenue streams, such as depository fees, service charges and commission revenues. However, the recognition of these revenue streams did not change significantly upon adoption of Topic 606. Non-interest revenue streams in-scope of Topic 606 are discussed below. Depository fees and charges Depository fees and charges primarily relate to service fees on deposit accounts and fees earned from debit cards and check cashing transactions. Service fees on deposit accounts consist of ATM fees, NSF fees, account maintenance charges and other deposit related fees. The revenue is recognized monthly when the Bank's performance obligations are complete, or as incurred for transaction-based fees in accordance with the fee schedules for the Bank's deposit products and services. Loan fees and service charges Loan fees and service charges primarily relate to program management fees and fees earned in accordance with the Bank's standard lending fees (such as inspection and late charges). These standard lending fees are earned on a monthly basis upon receipt. Other non-interest income Other non-interest income primarily relates to an advertising services agreement, covering marketing and use of the Bank's office space with a third party. The revenue is recognized on a monthly basis. The following table presents non-interest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the three and nine months ended December 31, 2019 and 2018: Three Months Ended December 31, Nine Months Ended December 31, $ in thousands 2019 2018 2019 2018 Non-interest income In-scope of Topic 606 Depository fees and charges $ 846 $ 862 $ 2,461 $ 2,549 Loan fees and service charges 70 102 216 223 Other non-interest income 14 15 41 48 Non-interest income (in-scope of Topic 606) 930 979 2,718 2,820 Non-interest income (out-of-scope of Topic 606) 35 348 405 890 Total non-interest income $ 965 $ 1,327 $ 3,123 $ 3,710 The following table sets forth other non-interest income and expense totals exceeding 1% of the aggregate of total interest income and non-interest income for any of the periods presented: Three Months Ended December 31, Nine Months Ended December 31, $ in thousands 2019 2018 2019 2018 Other non-interest income: Gain on sale of real estate owned $ — $ 115 $ 208 $ 194 Other 37 82 186 272 Total non-interest income $ 37 $ 197 $ 394 $ 466 Other non-interest expense: Advertising $ 32 $ 66 $ 234 $ 242 Legal expense 316 95 489 338 Insurance and surety 158 146 463 514 Audit expense 136 125 398 456 Outsourced service 33 143 277 451 Data lines / internet 105 139 315 311 Retail expenses 175 195 551 609 Regulatory assessment 53 86 161 259 Investor relations — 75 16 112 Director's fees 77 86 232 259 Other 528 504 1,447 1,666 Total non-interest expense $ 1,613 $ 1,660 $ 4,583 $ 5,217

Leases

Leases	9 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Lessee, Operating Leases	LEASES On April 1, 2019, the Company adopted ASU No, 2016-02, "Leases (Topic 842)" and all subsequent ASUs that modified Topic 842. The Company has operating leases related to its administrative offices, seven retail branches and four ATM centers. Two of the operating leases are for branch locations where the Company had entered into a sale and leaseback transaction. The gain had been calculated utilizing the profit on sale in excess of the present value of the minimum lease payments, and the profit on the sale was deferred from gain recognition to be amortized into income over the terms of the leases in accordance with ASC 840. ASC 842 does not require previous sale and leaseback transactions accounted for under ASC 840 to be reassessed. Because the transactions had no off-market terms, the Company recorded a $5.3 million cumulative effect adjustment to retained earnings to recognize the total deferred gain balance at the adoption date. The implementation of the new standard resulted in the recognition of $20.0 million right-of-use ("ROU") assets and corresponding operating lease liabilities upon adoption. As the implicit rates of the Company's existing leases are not readily determinable, the discount rate used in determining the lease liability obligation for each individual lease was the FHLB-NY fixed-rate advance rates based on the remaining lease terms as of April 1, 2019. As of December 31, 2019, the Company had $195 thousand and $187 thousand of ROU asset and lease liability, respectively, for finance leases related to equipment. The ROU asset is included in Premises and Equipment, net, and the lease liability is included in Advances from the FHLB-NY and Other Borrowed Money on the statements of financial condition. The following tables present information about the Company's leases and the related lease costs as of and for the three and nine months ended December 31, 2019: December 31, 2019 Weighted-average remaining lease term Operating leases 8.1 years Finance lease 3.0 years Weighted-average discount rate Operating leases 3.00 % Finance lease 1.83 % $ in thousands Three Months Ended Nine Months Ended Operating lease expense $ 743 $ 2,207 Finance lease cost Amortization of right-of use asset 16 20 Interest on lease liability 1 1 Cash paid for amounts included in the measurement of lease liabilities Operating leases 706 2,083 Finance lease 14 30 Maturities of lease liabilities at December 31, 2019 are as follows: $ in thousands Operating Leases Finance Leases Year ending March 31, 2020 $ 685 $ 18 2021 2,701 69 2022 2,600 69 2023 2,462 28 2024 2,535 8 Thereafter 10,231 — Total lease payments 21,214 192 Interest (2,514) (5) Lease liability $ 18,700 $ 187

Impact of Recent Accounting Sta

Impact of Recent Accounting Standards	9 Months Ended
	Dec. 31, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements Not Yet Adopted	IMPACT OF RECENT ACCOUNTING STANDARDS In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard, as modified and augmented by subsequently issued pronouncements (ASUs 2016-08, 2016-10, 2016-12, 2016-20, 2017-05, 2017-13 and 2017-14) became effective for annual periods beginning after December 15, 2017 (April 1, 2018 for the Company), and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a modified retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). The Company completed its review of the impact of this guidance and concluded that (1) a substantial majority of the Company's revenue is comprised of interest income on financial assets, which is explicitly excluded from the scope of ASU 2014-09 and (2) based on our understanding of the standard and subsequent modification and the nature of our non-interest revenue, many elements of non-interest income are unaffected. The Company identified the non-interest income streams that are contractually based and adopted this ASU on a modified retrospective approach. Since the new guidance did not have a material impact to the Company's consolidated financial statements, a cumulative effect adjustment to opening retained earnings was not deemed necessary. In January 2016, the FASB issued ASU No. 2016-01, "Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." The amendments (1) require equity investments, with certain exceptions, to be measured at fair value with changes in fair value recognized in net income, (2) simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, (3) eliminate the requirement to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, (4) require public business entities to use an exit price notion when measuring the fair value of financial instruments for disclosure purposes, (5) require an entity to separately present in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments, (6) require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements, and (7) clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity's other deferred tax assets. ASU No. 2016-01 is effective for fiscal years beginning after December 15, 2017 (for the Company, the fiscal year ended March 31, 2019), including interim periods within those fiscal years. The adoption of this standard by public entities is permitted as of the beginning of the year of adoption for selected amendments, including the amendment related to unrealized gains and losses on equity securities, by a cumulative effect adjustment to the statement of financial condition. In February 2018, the FASB issued ASU No. 2018-03, "Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10)" to clarify certain aspects of the guidance issued in ASU 2016-01. The amendments in this update are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years beginning after June 15, 2018. The Company completed its evaluation of the provisions of ASU 2016-01 and identified the equity investments that falls under ASU 2016-01. The Company adopted this ASU during the first quarter of fiscal year 2019 and the impact amounted to a cumulative effect adjustment of $721 thousand as a reclassification from accumulated other comprehensive loss to accumulated deficit. There was no tax impact on this reclassification because of the full deferred tax asset valuation allowance. Additionally, all future unrealized gains and losses will be recognized in the Statements of Operations. See Note 6 "Investment Securities" for further information. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)." From the lessee's perspective, the new standard establishes a right-of-use ("ROU") model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement for a lessee. From the lessor's perspective, the new standard requires a lessor to classify leases as either sales-type, finance or operating. A lease will be treated as a sale if it transfers all of the risks and rewards, as well as control of the underlying asset, to the lessee. If risks and rewards are conveyed without the transfer of control, the lease is treated as a financing. If the lessor doesn't convey risks and rewards or control, an operating lease results. A modified retrospective transition approach is required for lessors for sales-type, direct financing, and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. ASU No. 2016-02, as augmented by ASU No. 2018-01, is effective for fiscal years beginning after December 15, 2018 (for the Company, the fiscal year ended March 31, 2020), including interim periods within those fiscal years. In July 2018, the FASB issued ASU No. 2018-10, "Codification Improvements to Topic 842, Leases," to clarify and correct unintended application of the guidance in ASU No. 2016-02. The amendments in this ASU affect aspects of the guidance and provide clarification to related topics such as 1) rate implicit in the lease; 2) reassessment of leases; 3) transition guidance; and 4) impairment of net investment in the lease. In July 2018, the FASB issued ASU 2018-11, "Leases (Topic 842) Target Improvements," which provides guidance related to comparative reporting requirements for initial adoption. This amendment provides entities with another transition method, in addition to the modified retrospective approach, by allowing entities to initially apply the new leases standard at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. In December 2018, the FASB issued ASU 2018-20, "Leases (Topic 842) Narrow-Scope Improvements for Lessors," which clarifies how to apply the leases standard when accounting for sales taxes and other similar taxes collected from lessees, certain lessor costs, and recognition of variable payments for contracts with lease and nonlease components. In March 2019, the FASB issued ASU 2019-01, "Leases (Topic 842) Codification Improvements," which clarifies certain issues related to 1) determining the fair value of the underlying asset by lessors that are not manufacturers or dealers; 2) presentation on the statement of cashflows for sales-type and direct financing leases; and 3) transition disclosures related to Topic 250, Accounting Changes and Error Corrections. The Company adopted ASU No. 2016-02 effective April 1, 2019 and elected to apply the guidance as of the beginning of the period of adoption (April 1, 2019) and not restate comparative periods. The Company also elected certain optional practical expedients, which allow the Company to forego a reassessment of (1) whether any expired or existing contracts are or contain leases, (2) the lease classification for any expired or existing leases, and (3) the initial direct costs for any existing leases. See Note 11 "Leases" for further information. In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments - Credit Loss," which updates the guidance on recognition and measurement of credit losses for financial assets. The new requirements, known as the current expected credit loss model ("CECL") will require entities to adopt an impairment model based on expected losses rather than incurred losses. ASU No. 2016-13 is effective for fiscal years beginning after December 15, 2019 (for the Company, the fiscal year ending March 31, 2021), including interim periods within those fiscal years. In May 2019, the FASB issued ASU No. 2019-05, "Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief," to provide transition relief by providing entities with an option to irrevocably elect the fair value option for certain financial assets measured at amortized cost upon adoption of ASU 2016-13. The fair value election option is applied on an instrument-by-instrument basis and does not apply to held-to-maturity debt securities. In August 2019, the FASB issued a proposal which would extend the CECL implementation date for smaller reporting companies, as defined by the SEC. In November 2019, the FASB issued ASU No. 2019-10, which deferred the effective date for smaller reporting companies to fiscal years beginning after December 15, 2022 (for the Company, the fiscal year ending March 31, 2024). In November 2019, the FASB issued ASU No. 2019-11, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses," to amend or clarify guidance regarding expected recoveries for purchased financial assets with credit deterioration, transition relief for troubled debt restructurings, disclosures related to accrued interest receivables, and financial assets secured by collateral maintenance provisions. The Company is currently in the implementation stage of ASU 2016-13 and has engaged two vendors to assist management in evaluating the requirements of the new standard, modeling requirements and assessment of the potential impact of the adoption of the new standard on its consolidated statements of financial condition and results of operations. In August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments," a consensus of the FASB's Emerging Issues Task Force. The update is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows, and provides guidance on how the following cash receipts and payments should be presented and classified in the statement of cash flows: debt prepayment or debt extinguishment costs, settlement of zero-coupon bonds, contingent consideration payments made after a business combination, settlements of insurance claims, settlements of corporate-owned and bank-owned life insurance policies, distributions received from equity method investees, and beneficial interests in securitization transactions. The ASU also clarifies when an entity should separate cash receipts and payments and classify them into more than one class of cash flows. ASU No. 2016-15 is effective for fiscal years beginning after December 15, 2017 (for the Company, the fiscal year ending March 31, 2019), and interim periods within those fiscal years. The Company has evaluated the potential impact of the adoption of the new standard on its consolidated statement of cash flows and is generally unaffected by the update. The items defined in the ASU are not relevant to the Company's operations at this time. In November 2016, the FASB issued ASU No. 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash," to require that a statement of cash flows explain the change during the period in restricted cash or restricted cash equivalents, in addition to changes in cash and cash equivalents. The update provides guidance that restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU No. 2016-18 is effective for fiscal years beginning after December 15, 2017 (for the Company, the fiscal year ending March 31, 2019), and interim periods within those fiscal years. The Company adopted ASU 2016-18 and was generally unaffected by the update. The Company does not have restricted cash at this time. In March 2017, the FASB issued ASU No. 2017-08, "Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities," which shortens the amortization period for the premium on certain purchased callable debt securities to the earliest call date. The amendments are effective for fiscal years beginning after December 15, 2018 (for the Company, the fiscal year ending March 31, 2020), and interim periods within those fiscal years. Based on management's review of the securities in the Company's portfolio at March 31, 2019, the adoption of the standard did not have a material impact on the Company's consolidated statements of financial condition and results of operations. In May 2017, the FASB issued ASU No. 2017-09, "Compensation - Stock Compensation (Topic 718), Scope of Modification Accounting," which clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. The new guidance became effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017 (for the Company, the fiscal year ending March 31, 2019). The adoption of the standard did not have a material impact on the Company's consolidated statements of financial condition and results of operations.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of consolidated financial statement presentation The consolidated financial statements include the accounts of the Company, the Bank and the Bank’s wholly-owned or majority-owned subsidiaries, Carver Asset Corporation, CFSB Realty Corp., CCDC, and CFSB Credit Corp., which is currently inactive. All significant intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine month periods ended December 31, 2019 are not necessarily indicative of the results that may be expected for the year ended March 31, 2020. The consolidated balance sheet at December 31, 2019 has been derived from the unaudited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated statement of financial condition and revenues and expenses for the period then ended. These unaudited consolidated financial statements should be read in conjunction with the Annual Report on Form 10-K for the year ended March 31, 2019. Amounts subject to significant estimates and assumptions are items such as the allowance for loan losses, realization of deferred tax assets, assessment of other-than-temporary impairment of securities, and the fair value of financial instruments. While management uses available information to recognize losses on loans, future additions to the allowance for loan losses or future writedowns of real estate owned may be necessary based on changes in economic conditions in the areas where Carver Federal has extended mortgages and other credit instruments. Actual results could differ significantly from those assumptions. Current market conditions increase the risk and complexity of the judgments in these estimates. Certain comparative amounts for the prior period have been reclassified to conform to current period presentations. Such reclassifications had no effect on net income or shareholders' equity.

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles the net loss (numerator) and the weighted average common stock outstanding (denominator) for both basic and diluted loss per share for the following periods: Three Months Ended December 31, Nine Months Ended $ in thousands except per share data 2019 2018 2019 2018 Net loss $ (1,436) $ (1,349) (3,625) (4,396) Weighted average common shares outstanding - basic 3,699,406 3,698,701 3,699,203 3,698,424 Weighted average common shares outstanding – diluted 3,699,406 3,698,701 3,699,203 3,698,424 Basic loss per common share $ (0.39) $ (0.36) $ (0.98) $ (1.19) Diluted loss per common share $ (0.39) $ (0.36) $ (0.98) $ (1.19) For the three and nine months ended December 31, 2019 and 2018, all restricted shares and outstanding stock options were anti-dilutive.

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following tables set forth changes in each component of accumulated other comprehensive income (loss), net of tax for the nine months ended December 31, 2019 and 2018: $ in thousands At Other At Net unrealized income (loss) on securities available-for-sale $ (939) $ 923 $ (16) $ in thousands At ASU 2016-01 reclassification Other At Net unrealized income (loss) on securities available-for-sale $ (2,726) $ 721 $ 286 $ (1,719)

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Unrealized Gain (Loss) on Investments	The following tables set forth the amortized cost and fair value of securities available-for-sale and held-to-maturity at December 31, 2019 and March 31, 2019: At December 31, 2019 Amortized Gross Unrealized $ in thousands Cost Gains Losses Fair Value Available-for-Sale: Mortgage-backed securities: Government National Mortgage Association $ 3,717 $ 23 $ 21 $ 3,719 Federal Home Loan Mortgage Corporation 9,824 116 14 9,926 Federal National Mortgage Association 24,265 287 235 24,317 Total mortgage-backed securities 37,806 426 270 37,962 U.S. Government Agency Securities 28,621 — 225 28,396 Corporate Bonds 4,037 50 2 4,085 Total available-for-sale $ 70,464 $ 476 $ 497 $ 70,443 Held-to-Maturity: Mortgage-backed securities: Government National Mortgage Association $ 1,044 $ 66 $ — $ 1,110 Federal National Mortgage Association and Other 8,403 90 6 8,487 Total held-to-maturity mortgage-backed securities 9,447 156 6 9,597 Corporate Bonds 1,000 7 — 1,007 Total held-to maturity $ 10,447 $ 163 $ 6 $ 10,604 At March 31, 2019 Amortized Gross Unrealized $ in thousands Cost Gains Losses Fair Value Available-for-Sale: Mortgage-backed securities: Government National Mortgage Association $ 4,443 $ 25 $ 86 $ 4,382 Federal Home Loan Mortgage Corporation 11,104 69 148 11,025 Federal National Mortgage Association 27,094 131 617 26,608 Total mortgage-backed securities 42,641 225 851 42,015 U.S. Government Agency Securities 33,089 — 236 32,853 Corporate Bonds 5,054 — 77 4,977 Total available-for-sale $ 80,784 $ 225 $ 1,164 $ 79,845 Held-to-Maturity: Mortgage-backed securities: Government National Mortgage Association $ 1,214 $ 40 $ — $ 1,254 Federal National Mortgage Association and Other 8,923 — 87 8,836 Total held-to-maturity mortgage-backed securities 10,137 40 87 10,090 Corporate Bonds 1,000 17 — 1,017 Total held-to-maturity $ 11,137 $ 57 $ 87 $ 11,107
Schedule of Unrealized Loss on Investments	The following tables set forth the unrealized losses and fair value of securities in an unrealized loss position at December 31, 2019 and March 31, 2019 for less than 12 months and 12 months or longer: At December 31, 2019 Less than 12 months 12 months or longer Total $ in thousands Unrealized Fair Unrealized Fair Unrealized Fair Available-for-Sale: Mortgage-backed securities $ 29 $ 3,424 $ 241 $ 14,598 $ 270 $ 18,022 U.S. Government Agency securities 94 10,660 131 17,736 225 28,396 Corporate Bonds — — 2 2,010 2 2,010 Total available-for-sale securities $ 123 $ 14,084 $ 374 $ 34,344 $ 497 $ 48,428 Held-to-Maturity: Mortgage-backed securities $ — $ — $ 6 $ 1,216 $ 6 $ 1,216 Total held-to-maturity securities $ — $ — $ 6 $ 1,216 $ 6 $ 1,216 At March 31, 2019 Less than 12 months 12 months or longer Total $ in thousands Unrealized Fair Unrealized Fair Unrealized Fair Available-for-Sale: Mortgage-backed securities $ — $ — $ 851 $ 26,787 $ 851 $ 26,787 U.S. Government Agency securities 23 20,851 213 12,002 236 32,853 Corporate bonds — — 77 4,977 77 4,977 Total available-for-sale securities $ 23 $ 20,851 $ 1,141 $ 43,766 $ 1,164 $ 64,617 Held-to-Maturity: Mortgage-backed securities $ — $ — $ 87 $ 8,752 $ 87 $ 8,752 Total held-to-maturity securities $ — $ — $ 87 $ 8,752 $ 87 $ 8,752
Investments Classified by Contractual Maturity Date	The following is a summary of the amortized cost and fair value of debt securities at December 31, 2019, by remaining period to contractual maturity (ignoring earlier call dates, if any). Actual maturities may differ from contractual maturities because certain security issuers have the right to call or prepay their obligations. The table below does not consider the effects of possible prepayments or unscheduled repayments. $ in thousands Amortized Cost Fair Value Weighted Available-for-Sale: Less than one year $ 3,006 $ 3,004 1.61 % One through five years 4,952 4,908 1.78 % Five through ten years 14,454 14,438 2.40 % After ten years 48,052 48,093 2.34 % Total $ 70,464 $ 70,443 2.29 % Held-to-maturity: One through five years $ 4,469 $ 4,515 2.39 % Five through ten years 4,003 4,067 3.33 % After ten years 1,975 2,022 2.86 % Total $ 10,447 $ 10,604 2.84 %

Loans Receivable and ALLL (Tabl

Loans Receivable and ALLL (Tables)	9 Months Ended
	Dec. 31, 2019
Loans and Leases Receivable Disclosure [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	The following is a summary of loans receivable at December 31, 2019 and March 31, 2019: December 31, 2019 March 31, 2019 $ in thousands Amount Percent Amount Percent Gross loans receivable: One-to-four family $ 111,218 26.6 % $ 108,363 25.5 % Multifamily 83,503 19.9 % 86,177 20.2 % Commercial real estate 134,884 32.2 % 130,812 30.7 % Business (1) 85,646 20.5 % 96,430 22.7 % Consumer (2) 3,552 0.8 % 4,023 0.9 % Total loans receivable $ 418,803 100.0 % $ 425,805 100.0 % Unamortized premiums, deferred costs and fees, net 3,516 3,023 Allowance for loan losses (4,607) (4,646) Total loans receivable, net $ 417,712 $ 424,182 (1) Includes business overdrafts (2) Includes personal loans and consumer overdrafts
Allowance for Loan Losses	The following is an analysis of the allowance for loan losses based upon the method of evaluating loan impairment for the three and nine month periods ended December 31, 2019 and 2018, and the fiscal year ended March 31, 2019. Three months ended December 31, 2019 $ in thousands One-to-four Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance 1,289 884 695 1,491 248 18 $ 4,625 Charge-offs (12) — — (13) (8) — (33) Recoveries — — — 7 — — 7 Provision for (recovery of) Loan Losses (96) 36 (4) (1) (9) 82 8 Ending Balance $ 1,181 $ 920 $ 691 $ 1,484 $ 231 $ 100 $ 4,607 Nine months ended December 31, 2019 $ in thousands One-to-four Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1,274 $ 885 $ 766 $ 1,330 $ 154 $ 237 $ 4,646 Charge-offs (12) — — (69) (81) — (162) Recoveries 8 — — 97 2 — 107 Provision for (recovery of) Loan Losses (89) 35 (75) 126 156 (137) 16 Ending Balance $ 1,181 $ 920 $ 691 $ 1,484 $ 231 $ 100 $ 4,607 Allowance for Loan Losses Ending Balance: collectively evaluated for impairment $ 1,023 $ 920 $ 691 $ 1,474 $ 231 $ 100 $ 4,439 Allowance for Loan Losses Ending Balance: individually evaluated for impairment 158 — — 10 — — 168 Loan Receivables Ending Balance: $ 113,352 $ 84,072 $ 135,424 $ 85,883 $ 3,588 $ — $ 422,319 Ending Balance: collectively evaluated for impairment 108,250 83,694 135,424 82,438 3,588 — 413,394 Ending Balance: individually evaluated for impairment 5,102 378 — 3,445 — — 8,925 At March 31, 2019 $ in thousands One-to-four family Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for Loan Losses Ending Balance: collectively evaluated for impairment $ 1,103 $ 885 $ 766 $ 1,312 $ 154 $ 237 $ 4,457 Allowance for Loan Losses Ending Balance: individually evaluated for impairment 171 — — 18 — — 189 Loan Receivables Ending Balance: $ 109,926 $ 86,886 $ 131,292 $ 96,661 $ 4,063 $ — $ 428,828 Ending Balance: collectively evaluated for impairment 104,509 83,672 130,816 93,399 4,063 — 416,459 Ending Balance: individually evaluated for impairment 5,417 3,214 476 3,262 — — 12,369 Three months ended December 31, 2018 $ in thousands One-to-four family Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1,481 $ 939 $ 702 $ 1,530 $ 140 $ — $ 4,792 Charge-offs (6) — — (490) (7) — (503) Recoveries 186 — — 658 1 — 845 Provision for (recovery of) Loan Losses (198) (65) 36 (320) (12) 227 (332) Ending Balance $ 1,463 $ 874 $ 738 $ 1,378 $ 122 $ 227 $ 4,802 Nine months ended December 31, 2018 $ in thousands One-to-four family Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1,210 $ 1,819 $ 1,052 $ 1,003 $ 18 $ 24 $ 5,126 Charge-offs (151) (100) — (830) (12) — (1,093) Recoveries 186 158 — 667 36 — 1,047 Provision for (recovery of) Loan Losses 218 (1,003) (314) 538 80 203 (278) Ending Balance $ 1,463 $ 874 $ 738 $ 1,378 $ 122 $ 227 $ 4,802
Schedule Nonaccrual Loans	The following is a summary of nonaccrual loans at December 31, 2019 and March 31, 2019. $ in thousands December 31, 2019 March 31, 2019 Gross loans receivable: One-to-four family $ 4,053 $ 4,488 Multifamily 378 3,214 Commercial real estate — 476 Business 2,754 2,051 Consumer 8 65 Total nonaccrual loans $ 7,193 $ 10,294
Loans Receivable, Credit Quality Indicators	At December 31, 2019, and based on the most recent analysis performed in the current quarter, the risk category by class of loans is as follows: $ in thousands Multifamily Commercial Business Credit Risk Profile by Internally Assigned Grade: Pass $ 83,694 $ 134,803 $ 78,458 Special Mention — 621 3,951 Substandard 378 — 3,474 Total $ 84,072 $ 135,424 $ 85,883 One-to-four family Consumer Credit Risk Profile Based on Payment Activity: Performing $ 109,299 $ 3,580 Non-Performing 4,053 8 Total $ 113,352 $ 3,588 At March 31, 2019, and based on the most recent analysis performed, the risk category by class of loans is as follows: $ in thousands Multifamily Commercial Real Estate Business Credit Risk Profile by Internally Assigned Grade: Pass $ 83,672 $ 128,319 $ 90,336 Special Mention — 2,497 2,425 Substandard 3,214 476 3,900 Total $ 86,886 $ 131,292 $ 96,661 One-to-four family Consumer Credit Risk Profile Based on Payment Activity: Performing $ 106,531 $ 4,063 Non-Performing 3,395 — Total $ 109,926 $ 4,063
Past Due Financing Receivables	The following table presents an aging analysis of the recorded investment of past due loans receivables at December 31, 2019 and March 31, 2019. December 31, 2019 $ in thousands 30-59 Days 60-89 Days 90 or More Days Past Due Total Past Current Total Loans One-to-four family $ 1,196 $ — $ 3,668 $ 4,864 $ 108,488 $ 113,352 Multifamily — 505 — 505 83,567 84,072 Commercial real estate 4,651 1,333 — 5,984 129,440 135,424 Business 2,777 4 1,830 4,611 81,272 85,883 Consumer 2 6 — 8 3,580 3,588 Total $ 8,626 $ 1,848 $ 5,498 $ 15,972 $ 406,347 $ 422,319 March 31, 2019 $ in thousands 30-59 Days 60-89 Days 90 or More Days Past Due Total Past Current Total Loans Receivables One-to-four family $ 1,827 $ — $ 3,395 $ 5,222 $ 104,704 $ 109,926 Multifamily 2,580 — 2,118 4,698 82,188 86,886 Commercial real estate 121 — — 121 131,171 131,292 Business 780 — 599 1,379 95,282 96,661 Consumer 87 53 65 205 3,858 4,063 Total $ 5,395 $ 53 $ 6,177 $ 11,625 $ 417,203 $ 428,828
Impaired Loans	The following table presents information on impaired loans with the associated allowance amount, if applicable, at December 31, 2019 and March 31, 2019. At December 31, 2019 At March 31, 2019 $ in thousands Recorded Unpaid Associated Recorded Unpaid Associated With no specific allowance recorded: One-to-four family $ 4,291 $ 5,296 $ — $ 4,488 $ 5,643 $ — Multifamily 378 378 — 3,214 3,214 — Commercial real estate — — — 476 476 — Business 2,774 2,847 — 1,974 2,017 — With an allowance recorded: One-to-four family 811 806 158 929 929 171 Business 671 671 10 1,288 1,288 18 Total $ 8,925 $ 9,998 $ 168 $ 12,369 $ 13,567 $ 189 The following tables presents information on average balances of impaired loans and the interest income recognized on a cash basis for the three and nine month periods ended December 31, 2019 and 2018. For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 $ in thousands Average Balance Interest Income Recognized Average Balance Interest Income Recognized Average Balance Interest Income Recognized Average Balance Interest Income Recognized With no specific allowance recorded: One-to-four family $ 4,143 $ 14 $ 4,608 $ 25 $ 4,390 $ 43 $ 4,973 $ 60 Multifamily 1,406 14 2,518 11 1,796 45 1,836 29 Commercial real estate — — 486 8 238 — 1,011 16 Business 2,096 16 1,204 — 2,374 41 1,192 6 With an allowance recorded: One-to-four family 813 — 938 — 870 — 1,000 — Multifamily — — — — — — 371 — Business 780 — 2,428 — 979 — 2,239 4 Total $ 9,238 $ 44 $ 12,182 $ 44 $ 10,647 $ 129 $ 12,622 $ 115
Troubled Debt Restructuring	In certain circumstances, the Bank will modify a loan as part of a TDR under GAAP. Situations around these modifications may include extension of maturity date, reduction in the stated interest rate, rescheduling of future cash flows, reduction in the face amount of the debt or reduction of past accrued interest. Loans modified in TDRs are placed on nonaccrual status until the Company determines that future collection of principal and interest is reasonably assured, which generally requires that the borrower demonstrate performance according to the restructured terms for a period of at least six months. There were no loan modifications made during the three and nine month periods ended December 31, 2019. There were two loan modification made during the three month period and three modifications made during the nine month period ended December 31, 2018. The following table presents an analysis of the loan modifications that were classified as TDRs during the three and nine month periods ended December 31, 2018. Modifications to loans during the three month period ended Modifications to loans during the nine month period ended December 31, 2018 December 31, 2018 $ in thousands Number of loans Pre-modification outstanding recorded investment Post-Modification Recorded investment Pre-Modification rate Post-Modification rate Number of loans Pre-modification outstanding recorded investment Post-Modification Recorded investment Pre-Modification rate Post-Modification rate Business 2 $ 1,014 $ 648 6.11 % 6.24 % 3 $ 2,776 $ 2,360 6.51 % 6.06 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following table presents, by valuation hierarchy, assets that are measured at fair value on a recurring basis as of December 31, 2019 and March 31, 2019, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates: Fair Value Measurements at December 31, 2019, Using $ in thousands Quoted Prices in Active Markets for Identical Assets Significant Other Significant Total Fair Mortgage servicing rights $ — $ — $ 172 $ 172 Investment securities Available-for-sale: Mortgage-backed securities: Government National Mortgage Association — 3,719 — 3,719 Federal Home Loan Mortgage Corporation — 9,926 — 9,926 Federal National Mortgage Association — 24,317 — 24,317 U.S. Government Agency Securities — 28,396 — 28,396 Corporate bonds — 4,085 — 4,085 Total available-for-sale securities — 70,443 — 70,443 Total $ — $ 70,443 $ 172 $ 71,244 Fair Value Measurements at March 31, 2019, Using $ in thousands Quoted Prices in Significant Other Significant Total Fair Mortgage servicing rights $ — $ — $ 180 $ 180 Investment securities Available-for-sale: Mortgage-backed securities: Government National Mortgage Association — 4,382 — 4,382 Federal Home Loan Mortgage Corporation — 11,025 — 11,025 Federal National Mortgage Association — 26,608 — 26,608 U.S. Government Agency securities — 32,853 — 32,853 Corporate bonds — 4,977 — 4,977 Total available-for-sale securities — 79,845 — 79,845 Total $ — $ 79,845 $ 180 $ 80,479
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following table includes a rollforward of assets classified by the Company within Level 3 of the valuation hierarchy for the nine months ended December 31, 2019 and 2018: $ in thousands Beginning balance, Total Realized/Unrealized Gains/(Losses) Recorded in Income (1) Issuances / (Settlements) Transfers to/(from) Level 3 Ending balance, Change in Unrealized Gains/(Losses) Related to Instruments Held at December 31, 2019 Mortgage servicing rights 180 (8) — — 172 (7) $ in thousands Beginning balance, Total Realized/Unrealized Gains/(Losses) Recorded in Income (1) Issuances / (Settlements) Transfers to/(from) Level 3 Ending balance, Change in Unrealized Gains/(Losses) Related to Instruments Held at December 31, 2018 Mortgage servicing rights 181 28 — — 209 26
Fair Value, Assets Measured on Recurring Basis, Valuation Techniques	For Level 3 assets measured at fair value on a recurring basis as of December 31, 2019 and March 31, 2019, the significant unobservable inputs used in the fair value measurements were as follows: $ in thousands Fair Value Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Mortgage servicing rights 172 Discounted Cash Flow Weighted Average Constant Prepayment Rate (1) 9.41 % Option Adjusted Spread ("OAS") applied to Treasury curve 1200 basis points $ in thousands Fair Value Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Mortgage servicing rights 180 Discounted Cash Flow Weighted Average Constant Prepayment Rate (1) 11.19 % Option Adjusted Spread ("OAS" applied to Treasury curve 1000 basis points (1) Represents annualized loan repayment rate assumptions
Fair Value Measurements, Nonrecurring	The following table presents assets and liabilities that were measured at fair value on a non-recurring basis as of December 31, 2019 and March 31, 2019, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates: Fair Value Measurements at December 31, 2019, Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Fair Value $ in thousands (Level 1) (Level 2) (Level 3) Impaired loans $ — $ — $ 1,314 $ 1,314 Other real estate owned — — 120 $ 120 Fair Value Measurements at March 31, 2019, Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Fair Value $ in thousands (Level 1) (Level 2) (Level 3) Impaired loans $ — $ — $ 2,027 $ 2,027 Other real estate owned — — 404 $ 404
Fair Value, Assets Measured on Nonrecurring Basis, Valuation Techniques	For Level 3 assets measured at fair value on a non-recurring basis as of December 31, 2019 and March 31, 2019, the significant unobservable inputs used in the fair value measurements were as follows: $ in thousands Fair Value Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Impaired loans $ 1,314 Appraisal of collateral Appraisal adjustments 7.5% cost to sell Other real estate owned 120 Appraisal of collateral Appraisal adjustments 7.5% cost to sell $ in thousands Fair Value March 31, 2019 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Impaired loans $ 2,027 Appraisal of collateral Appraisal adjustments 7.5% cost to sell Other real estate owned 404 Appraisal of collateral Appraisal adjustments 7.5% cost to sell

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The carrying amounts and estimated fair values of the Bank’s financial instruments and estimation methodologies at December 31, 2019 and March 31, 2019 are as follows: December 31, 2019 $ in thousands Carrying Estimated Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets: Cash and cash equivalents $ 37,733 $ 37,733 $ 37,733 $ — $ — Securities available-for-sale 70,443 70,443 — 70,443 — Securities held-to-maturity 10,447 10,604 — 10,604 — Loans receivable 417,712 422,890 — — 422,890 Accrued interest receivable 2,019 2,019 — 2,019 — Mortgage servicing rights 172 172 — — 172 Other assets - Interest-bearing deposits 980 980 — 980 — Financial Liabilities: Deposits $ 464,298 $ 463,869 $ 278,925 $ 184,944 $ — Advances from FHLB of New York 12,000 11,999 — 11,999 — Other borrowed money 13,403 13,371 — 13,371 — Accrued interest payable 2,426 2,426 — 2,426 — March 31, 2019 $ in thousands Carrying Estimated Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets: Cash and cash equivalents $ 31,228 $ 31,228 $ 31,228 $ — $ — Securities available-for-sale 79,845 79,845 — 79,845 — Securities held-to-maturity 11,137 11,107 — 11,107 — Loans receivable 424,182 424,013 — — 424,013 Accrued interest receivable 2,019 2,019 — 2,019 — Mortgage servicing rights 180 180 — — 180 Other assets - Interest-bearing deposits 976 976 — 976 — Financial Liabilities: Deposits $ 480,196 $ 477,503 $ 277,360 $ 200,143 $ — Advances from FHLB of New York 8,000 8,001 — 8,001 — Other borrowed money 13,403 12,393 — 12,393 — Accrued interest payable 1,931 1,931 — 1,931 —

Non-interest Revenue and Expe_2

Non-interest Revenue and Expense (Tables)	9 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents non-interest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the three and nine months ended December 31, 2019 and 2018: Three Months Ended December 31, Nine Months Ended December 31, $ in thousands 2019 2018 2019 2018 Non-interest income In-scope of Topic 606 Depository fees and charges $ 846 $ 862 $ 2,461 $ 2,549 Loan fees and service charges 70 102 216 223 Other non-interest income 14 15 41 48 Non-interest income (in-scope of Topic 606) 930 979 2,718 2,820 Non-interest income (out-of-scope of Topic 606) 35 348 405 890 Total non-interest income $ 965 $ 1,327 $ 3,123 $ 3,710
Schedule of Other Operating Cost and Expense, by Component [Table Text Block]	The following table sets forth other non-interest income and expense totals exceeding 1% of the aggregate of total interest income and non-interest income for any of the periods presented: Three Months Ended December 31, Nine Months Ended December 31, $ in thousands 2019 2018 2019 2018 Other non-interest income: Gain on sale of real estate owned $ — $ 115 $ 208 $ 194 Other 37 82 186 272 Total non-interest income $ 37 $ 197 $ 394 $ 466 Other non-interest expense: Advertising $ 32 $ 66 $ 234 $ 242 Legal expense 316 95 489 338 Insurance and surety 158 146 463 514 Audit expense 136 125 398 456 Outsourced service 33 143 277 451 Data lines / internet 105 139 315 311 Retail expenses 175 195 551 609 Regulatory assessment 53 86 161 259 Investor relations — 75 16 112 Director's fees 77 86 232 259 Other 528 504 1,447 1,666 Total non-interest expense $ 1,613 $ 1,660 $ 4,583 $ 5,217

Leases (Tables)

Leases (Tables)	9 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Lease, Cost	The following tables present information about the Company's leases and the related lease costs as of and for the three and nine months ended December 31, 2019: December 31, 2019 Weighted-average remaining lease term Operating leases 8.1 years Finance lease 3.0 years Weighted-average discount rate Operating leases 3.00 % Finance lease 1.83 % $ in thousands Three Months Ended Nine Months Ended Operating lease expense $ 743 $ 2,207 Finance lease cost Amortization of right-of use asset 16 20 Interest on lease liability 1 1 Cash paid for amounts included in the measurement of lease liabilities Operating leases 706 2,083 Finance lease 14 30
Lessee, Lease Liability, Maturity	Maturities of lease liabilities at December 31, 2019 are as follows: $ in thousands Operating Leases Finance Leases Year ending March 31, 2020 $ 685 $ 18 2021 2,701 69 2022 2,600 69 2023 2,462 28 2024 2,535 8 Thereafter 10,231 — Total lease payments 21,214 192 Interest (2,514) (5) Lease liability $ 18,700 $ 187

Organization Text Tags (Details

Organization Text Tags (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended	12 Months Ended
	Dec. 31, 2019	Mar. 31, 2003	Mar. 31, 2019	Sep. 17, 2003	Oct. 24, 1994
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common Stock, Shares Issued (in shares)	3,701,449		3,700,728		2,314,375
Common Stock, Par Value (in dollars per share)	$ 0.01		$ 0.01		$ 0.01
subordinated debt issued shares				13,000
Liquidation amount subordinated debt (in dollars per share)				$ 1,000
Proceeds from Issuance of Long-term Debt		$ 13
Proceeds from (Payments for) Other Financing Activities		0.4
Payments for Repurchase of Trust Preferred Securities		$ 13.4
Debt Instrument, Basis Spread on Variable Rate	3.05%
Debt Instrument, Interest Rate During Period	4.95%
Interest Payable	$ 2.4

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Net loss	$ (1,436)	$ (1,349)	$ (3,625)	$ (4,396)
Weighted average common shares outstanding - basic (in shares)	3,699,406	3,698,701	3,699,203	3,698,424
Weighted average common shares outstanding - diluted (in shares)	3,699,406	3,698,701	3,699,203	3,698,424
Loss per Share, Basic (in dollars per share)	$ (0.39)	$ (0.36)	$ (0.98)	$ (1.19)
Loss per Share, Diluted (in dollars per share)	$ (0.39)	$ (0.36)	$ (0.98)	$ (1.19)

Common Stock Dividends Text Tag

Common Stock Dividends Text Tags (Details) - shares	9 Months Ended
	Dec. 31, 2011	Dec. 31, 2019	Mar. 31, 2019	Oct. 28, 2011
Dividends [Abstract]
Stock Issued During Period, Shares, Other	2,321,286
Conversion of Stock, Shares Converted	1,208,039
Series D Convertible Preferred Stock, Shares Outstanding (in shares)		45,118	45,118	45,118

Components of Accumulated Other

Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax			$ 0
Accumulated Other Comprehensive Loss, Available-for-sale Securities Adjustment, Net of Tax			(939)	$ (2,726)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Investment Transferred from Available-for-sale to Equity Method, after Tax				721
Other comprehensive loss, net of taxes	$ (98)	$ 972	923	286
Accumulated Other Comprehensive Loss, Available-for-sale Securities Adjustment, Net of Tax	$ (16)	$ (1,719)	$ (16)	$ (1,719)

Investment Securities Text Tags

Investment Securities Text Tags (Details)	3 Months Ended	9 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)
Schedule of Investments [Line Items]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions		22	35
Debt Securities, Available-for-sale		$ 70,443,000	$ 79,845,000
Percentage Available-for-sale Securities		87.10%
Debt Securities, Held-to-maturity		$ 10,447,000	11,137,000
Percentage Held-to-maturity Securities		12.90%
Trading		$ 0
Cumulative Effect of New Accounting Principle		5,300,000
Equity Method Investment, Amount Sold	$ 9,200,000
Proceeds from Sale of Available-for-sale Securities		$ 0
Mortgage-backed securities
Schedule of Investments [Line Items]
Percentage Available-for-Sale, Continuos Unrealized Loss Position		37.20%
Number of AFS securities in Unrealized Loss Positions, greater than or equal to 12 months		11
Held-to-maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions		1
Debt Securities, Held-to-maturity		$ 9,447,000	10,137,000
US Government Agency Securities
Schedule of Investments [Line Items]
Percentage Available-for-Sale, Continuos Unrealized Loss Position		58.60%
Number of AFS securities in Unrealized Loss Positions, greater than or equal to 12 months		3
Corporate Bonds
Schedule of Investments [Line Items]
Number of AFS securities in Unrealized Loss Positions, greater than or equal to 12 months		2
Debt Securities, Held-to-maturity		$ 1,000,000	$ 1,000,000
Accounting Standards Update 2016-01
Schedule of Investments [Line Items]
Cumulative Effect of New Accounting Principle	0
Accounting Standards Update 2016-01 | Accumulated Deficit
Schedule of Investments [Line Items]
Cumulative Effect of New Accounting Principle	$ (721,000)

Investment Securities-Unrealize

Investment Securities-Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Total	$ 10,447	$ 11,137
Held-to-maturity, Gross Unrealized Gains	163	57
Held-to-maturity, Gross Unrealized Losses	6	87
Held-to-maturity, Fair Value	10,604	11,107
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	70,464	80,784
Available-for-sale, Gross Unrealized Gains	476	225
Available-for-sale, Gross Unrealized Losses	497	1,164
Available-for-sale, Fair Value	70,443	79,845
Government National Mortgage Association (GNMA)
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Total	1,044	1,214
Held-to-maturity, Gross Unrealized Gains	66	40
Held-to-maturity, Gross Unrealized Losses	0	0
Held-to-maturity, Fair Value	1,110	1,254
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	3,717	4,443
Available-for-sale, Gross Unrealized Gains	23	25
Available-for-sale, Gross Unrealized Losses	21	86
Available-for-sale, Fair Value	3,719	4,382
Federal Home Loan Mortgage Corporation (FHLMC)
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	9,824	11,104
Available-for-sale, Gross Unrealized Gains	116	69
Available-for-sale, Gross Unrealized Losses	14	148
Available-for-sale, Fair Value	9,926	11,025
Federal National Mortgage Association (FNMA)
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Total	8,403	8,923
Held-to-maturity, Gross Unrealized Gains	90	0
Held-to-maturity, Gross Unrealized Losses	6	87
Held-to-maturity, Fair Value	8,487	8,836
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	24,265	27,094
Available-for-sale, Gross Unrealized Gains	287	131
Available-for-sale, Gross Unrealized Losses	235	617
Available-for-sale, Fair Value	24,317	26,608
Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Total	9,447	10,137
Held-to-maturity, Gross Unrealized Gains	156	40
Held-to-maturity, Gross Unrealized Losses	6	87
Held-to-maturity, Fair Value	9,597	10,090
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	37,806	42,641
Available-for-sale, Gross Unrealized Gains	426	225
Available-for-sale, Gross Unrealized Losses	270	851
Available-for-sale, Fair Value	37,962	42,015
US Government Agency Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	28,621	33,089
Available-for-sale, Gross Unrealized Gains	0	0
Available-for-sale, Gross Unrealized Losses	225	236
Available-for-sale, Fair Value	28,396	32,853
Corporate Bonds
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Total	1,000	1,000
Held-to-maturity, Gross Unrealized Gains	7	17
Held-to-maturity, Gross Unrealized Losses	0	0
Held-to-maturity, Fair Value	1,007	1,017
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	4,037	5,054
Available-for-sale, Gross Unrealized Gains	50	0
Available-for-sale, Gross Unrealized Losses	2	77
Available-for-sale, Fair Value	$ 4,085	$ 4,977

Investment Securities Investmen

Investment Securities Investment Securities-Schedule of Unealized Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 123	$ 23
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	14,084	20,851
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	374	1,141
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	34,344	43,766
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	497	1,164
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	48,428	64,617
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	0
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value	0	0
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	6	87
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value	1,216	8,752
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss	6	87
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value	1,216	8,752
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	29	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	3,424	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	241	851
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	14,598	26,787
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	270	851
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	18,022	26,787
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	0
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value	0	0
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	6	87
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value	1,216	8,752
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss	6	87
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value	1,216	8,752
US Government Agency Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	94	23
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	10,660	20,851
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	131	213
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	17,736	12,002
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	225	236
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	28,396	32,853
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	0	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	2	77
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	2,010	4,977
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	2	77
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	$ 2,010	$ 4,977

Investment Securities-Investmen

Investment Securities-Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost	$ 3,006
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost	4,952
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost	14,454
Debt Securities, Available-for-sale, Allocated and Single Maturity Date, Maturity, after 10 Years, Amortized Cost	48,052
Debt Securities, Available-for-sale, Amortized Cost	70,464
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value	3,004
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value	4,908
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value	14,438
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value	48,093
Available-for-sale	$ 70,443	$ 79,845
Available-for-sale, Securities, Debt Maturities, within One Year, Weighted Average Rate	1.61%
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Weighted Average Rate	1.78%
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Weighted Average Rate	2.40%
Available-for-sale Securities, Debt Maturities, after Ten Years, Weighted Average Rate	2.34%
Available-for-sale Securities, Debt Maturities, Weighted Average Rate	2.29%
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost	$ 4,469
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost	4,003
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after 10 Years, Amortized Cost	1,975
Held-to-maturity	10,447	11,137
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value	4,515
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value	4,067
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value	2,022
Held-to-maturity, Fair Value	$ 10,604	$ 11,107
Debt Securities, Held-to-maturity, Maturity, after One Through Five Years, Weighted Average Yield	2.39%
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Weighted Average Rate	3.33%
Held-to-maturity Securities, Debt Maturities, after Ten Years, Weighted Average Rate	2.86%
Held-to-maturity Securities, Debt Maturities, Weighted Average Rate	2.84%

Loans Receivable and ALLL (Deta

Loans Receivable and ALLL (Details) - USD ($) $ in Thousands		Dec. 31, 2019	Sep. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross		$ 418,803		$ 425,805
Unamortized premiums, deferred costs and fees, net		3,516		3,023
Allowance for loan losses		(4,607)	$ (4,625)	(4,646)	$ (4,802)	$ (4,792)	$ (5,126)
Total loans receivable, net		$ 417,712		$ 424,182
Percentage of Loan Type		100.00%		100.00%
Other Real Estate Owned		$ 120		$ 404
Financing Receivable, Troubled Debt Restructuring		4,300		5,400
One-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross		111,218		108,363
Allowance for loan losses		$ (1,181)	(1,289)	$ (1,274)	(1,463)	(1,481)	(1,210)
Percentage of Loan Type		26.60%		25.50%
Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross		$ 83,503		$ 86,177
Allowance for loan losses		$ (920)	(884)	$ (885)	(874)	(939)	(1,819)
Percentage of Loan Type		19.90%		20.20%
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross		$ 134,884		$ 130,812
Allowance for loan losses		$ (691)	(695)	$ (766)	(738)	(702)	(1,052)
Percentage of Loan Type		32.20%		30.70%
Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross	[1]	$ 85,646		$ 96,430
Allowance for loan losses		$ (1,484)	(1,491)	$ (1,330)	(1,378)	(1,530)	(1,003)
Percentage of Loan Type	[1]	20.50%		22.70%
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross	[2]	$ 3,552		$ 4,023
Allowance for loan losses		$ (231)	$ (248)	$ (154)	$ (122)	$ (140)	$ (18)
Percentage of Loan Type	[2]	0.80%		0.90%
[1]	(1) Includes business overdrafts
[2]	2) Includes personal loans and consumer overdrafts

Allowance for Loan Losses (Deta

Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	$ 4,625	$ 4,792	$ 4,646	$ 5,126
Charge-offs	(33)	(503)	(162)	(1,093)
Recoveries	7	845	107	1,047
Provision for loan losses	8	(332)	16	(278)
Allowance for loan losses - Ending Balance	4,607	4,802	4,607	4,802
Allowance for Loan Losses, Collectively Evaluated for Impairment	4,439		4,439		$ 4,457
Allowance for Loan Losses, Individually Evaluated for Impairment	168		168		189
Loans, gross	422,319		422,319		428,828
Loans Receivable, Collectively Evaluated for Impairment	413,394		413,394		416,459
Loans Receivable, Individually Evaluated for Impairment	8,925		8,925		12,369
One-to-four family
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	1,289	1,481	1,274	1,210
Charge-offs	(12)	(6)	(12)	(151)
Recoveries	0	186	8	186
Provision for loan losses	(96)	(198)	(89)	218
Allowance for loan losses - Ending Balance	1,181	1,463	1,181	1,463
Allowance for Loan Losses, Collectively Evaluated for Impairment	1,023		1,023		1,103
Allowance for Loan Losses, Individually Evaluated for Impairment	158		158		171
Loans, gross	113,352		113,352		109,926
Loans Receivable, Collectively Evaluated for Impairment	108,250		108,250		104,509
Loans Receivable, Individually Evaluated for Impairment	5,102		5,102		5,417
Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	884	939	885	1,819
Charge-offs	0	0	0	(100)
Recoveries	0	0	0	158
Provision for loan losses	36	(65)	35	(1,003)
Allowance for loan losses - Ending Balance	920	874	920	874
Allowance for Loan Losses, Collectively Evaluated for Impairment	920		920		885
Allowance for Loan Losses, Individually Evaluated for Impairment	0		0		0
Loans, gross	84,072		84,072		86,886
Loans Receivable, Collectively Evaluated for Impairment	83,694		83,694		83,672
Loans Receivable, Individually Evaluated for Impairment	378		378		3,214
Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	695	702	766	1,052
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for loan losses	(4)	36	(75)	(314)
Allowance for loan losses - Ending Balance	691	738	691	738
Allowance for Loan Losses, Collectively Evaluated for Impairment	691		691		766
Allowance for Loan Losses, Individually Evaluated for Impairment	0		0		0
Loans, gross	135,424		135,424		131,292
Loans Receivable, Collectively Evaluated for Impairment	135,424		135,424		130,816
Loans Receivable, Individually Evaluated for Impairment	0		0		476
Business
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	1,491	1,530	1,330	1,003
Charge-offs	(13)	(490)	(69)	(830)
Recoveries	7	658	97	667
Provision for loan losses	(1)	(320)	126	538
Allowance for loan losses - Ending Balance	1,484	1,378	1,484	1,378
Allowance for Loan Losses, Collectively Evaluated for Impairment	1,474		1,474		1,312
Allowance for Loan Losses, Individually Evaluated for Impairment	10		10		18
Loans, gross	85,883		85,883		96,661
Loans Receivable, Collectively Evaluated for Impairment	82,438		82,438		93,399
Loans Receivable, Individually Evaluated for Impairment	3,445		3,445		3,262
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	248	140	154	18
Charge-offs	(8)	(7)	(81)	(12)
Recoveries	0	1	2	36
Provision for loan losses	(9)	(12)	156	80
Allowance for loan losses - Ending Balance	231	122	231	122
Allowance for Loan Losses, Collectively Evaluated for Impairment	231		231		154
Allowance for Loan Losses, Individually Evaluated for Impairment	0		0		0
Loans, gross	3,588		3,588		4,063
Loans Receivable, Collectively Evaluated for Impairment	3,588		3,588		4,063
Loans Receivable, Individually Evaluated for Impairment	0		0		0
Unallocated
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	18	0	237	24
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for loan losses	82	227	(137)	203
Allowance for loan losses - Ending Balance	100	$ 227	100	$ 227
Allowance for Loan Losses, Collectively Evaluated for Impairment	100		100		237
Allowance for Loan Losses, Individually Evaluated for Impairment	0		0		0
Loans, gross	0		0		0
Loans Receivable, Collectively Evaluated for Impairment	0		0		0
Loans Receivable, Individually Evaluated for Impairment	$ 0		$ 0		$ 0

Nonaccrual Loans (Details)

Nonaccrual Loans (Details) - Nonperforming - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2019	Mar. 31, 2019
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	$ 7,193		$ 10,294
One-to-four family
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	4,053		4,488
Multifamily
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	378		3,214
Commercial real estate
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual		$ 0	476
Business
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	2,754		2,051
Consumer
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	$ 8		$ 65

Credit Quality Indicators (Deta

Credit Quality Indicators (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	$ 422,319	$ 428,828
Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	84,072	86,886
Multifamily | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	83,694	83,672
Multifamily | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	0
Multifamily | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	378	3,214
Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	135,424	131,292
Commercial real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	134,803	128,319
Commercial real estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	621	2,497
Commercial real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	0	476
Business
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	85,883	96,661
Business | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	78,458	90,336
Business | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	3,951	2,425
Business | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	3,474	3,900
One-to-four family
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	113,352	109,926
One-to-four family | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	109,299	106,531
One-to-four family | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	4,053	3,395
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	3,588	4,063
Consumer | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	3,580	4,063
Consumer | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	$ 8	$ 0

Past Due Financing Receivables

Past Due Financing Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	$ 15,972	$ 11,625
Financing Receivable, Not Past Due	406,347	417,203
Loans, gross	422,319	428,828
Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	8,626	5,395
Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	1,848	53
Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	5,498	6,177
One-to-four family
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	4,864	5,222
Financing Receivable, Not Past Due	108,488	104,704
Loans, gross	113,352	109,926
One-to-four family | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	1,196	1,827
One-to-four family | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	0
One-to-four family | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	3,668	3,395
Multifamily
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	505	4,698
Financing Receivable, Not Past Due	83,567	82,188
Loans, gross	84,072	86,886
Multifamily | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	2,580
Multifamily | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	505	0
Multifamily | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	2,118
Commercial real estate
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	5,984	121
Financing Receivable, Not Past Due	129,440	131,171
Loans, gross	135,424	131,292
Commercial real estate | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	4,651	121
Commercial real estate | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	1,333	0
Commercial real estate | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	0
Business
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	4,611	1,379
Financing Receivable, Not Past Due	81,272	95,282
Loans, gross	85,883	96,661
Business | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	2,777	780
Business | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	4	0
Business | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	1,830	599
Consumer
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	8	205
Financing Receivable, Not Past Due	3,580	3,858
Loans, gross	3,588	4,063
Consumer | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	2	87
Consumer | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	6	53
Consumer | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	$ 0	$ 65

Impaired Loans (Details)

Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2019
Impaired Financing Receivable, Recorded Investment [Abstract]
Impaired Financing Receivable, Recorded Investment	$ 8,925		$ 8,925		$ 12,369
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	9,998		9,998		13,567
Impaired Financing Receivable, Related Allowance	168		168		189
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, Average Recorded Investment	9,238	$ 12,182	10,647	$ 12,622
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, Interest Income, Cash Basis Method	44	44	129	115
One-to-four family
Impaired Financing Receivable, Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	4,291		4,291		4,488
Impaired Financing Receivable, with Related Allowance, Recorded Investment	811		811		929
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	5,296		5,296		5,643
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	806		806		929
Impaired Financing Receivable, Related Allowance	158		158		171
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment	4,143	4,608	4,390	4,973
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	813	938	870	1,000
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method	14	25	43	60
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method	0	0	0	0
Multifamily
Impaired Financing Receivable, Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	378		378		3,214
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	378		378		3,214
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment	1,406	2,518	1,796	1,836
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	0	0	0	371
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method	14	11	45	29
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method	0	0	0	0
Commercial real estate
Impaired Financing Receivable, Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	0		0		476
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	0		0		476
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment	0	486	238	1,011
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method	0	8	0	16
Business
Impaired Financing Receivable, Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	2,774		2,774		1,974
Impaired Financing Receivable, with Related Allowance, Recorded Investment	671		671		1,288
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	2,847		2,847		2,017
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	671		671		1,288
Impaired Financing Receivable, Related Allowance	10		10		$ 18
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment	2,096	1,204	2,374	1,192
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	780	2,428	979	2,239
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method	16	0	41	6
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method	$ 0	$ 0	$ 0	$ 4

Loans Receivable and ALLL Text

Loans Receivable and ALLL Text Tags (Details) $ in Thousands	3 Months Ended	6 Months Ended	9 Months Ended		12 Months Ended
	Dec. 31, 2018	Sep. 30, 2019	Dec. 31, 2019USD ($)	Dec. 31, 2018	Mar. 31, 2019USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Troubled Debt Restructuring			$ 4,300		$ 5,400
Financing Receivable, Modifications, Number of Contracts			0
Financing Receivable, Past Due			$ 15,972		11,625
Other Real Estate Owned			$ 120		$ 404
Number of Real Estate Properties			2		4
Number of Modified Loan Subsequently Defaulted		0
Loans and Leases Receivable, Related Parties			$ 70		$ 80
Loans and Leases Receivable, Related Parties, Proceeds			10
Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Troubled Debt Restructuring			2,600		3,200
Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Troubled Debt Restructuring			1,800		$ 2,200
Financing Receivable, Modifications, Number of Contracts		6			8
Business
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Modifications, Number of Contracts	2			3
Financing Receivable, Past Due			$ 4,611		$ 1,379

TDRs (Details)

TDRs (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2019	Dec. 31, 2018USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts		0
Business
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts	2		3
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 1,014		$ 2,776
Financing Receivable, Troubled Debt Restructuring, Postmodification	$ 648		$ 2,360
weighted average rate pre modification	6.11%		6.51%
Weighted average rate post modification	6.24%		6.06%

Fair Value, Assets Measured on

Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	$ 172	$ 180
Securities Available-for-Sale	70,443	79,845
Assets, Fair Value Disclosure	71,244	80,479
Fair Value, Measurements, Recurring | Government National Mortgage Association (GNMA)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure	3,719	4,382
Fair Value, Measurements, Recurring | Federal Home Loan Mortgage Corporation (FHLMC)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure	9,926	11,025
Fair Value, Measurements, Recurring | Federal National Mortgage Association (FNMA)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure	24,317	26,608
Fair Value, Measurements, Recurring | US Government Agency Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	28,396	32,853
Fair Value, Measurements, Recurring | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	4,085	4,977
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	0	0
Securities Available-for-Sale	0	0
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	0	0
Securities Available-for-Sale	0	0
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | Government National Mortgage Association (GNMA)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | Federal Home Loan Mortgage Corporation (FHLMC)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | Federal National Mortgage Association (FNMA)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | US Government Agency Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	0	0
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	0	0
Securities Available-for-Sale	70,443	79,845
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	0	0
Securities Available-for-Sale	70,443	79,845
Assets, Fair Value Disclosure	70,443	79,845
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Government National Mortgage Association (GNMA)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure	3,719	4,382
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Federal Home Loan Mortgage Corporation (FHLMC)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure	9,926	11,025
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Federal National Mortgage Association (FNMA)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure	24,317	26,608
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | US Government Agency Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	28,396	32,853
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	4,085	4,977
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	172	180
Securities Available-for-Sale	0	0
Other investments	629
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights		180
Securities Available-for-Sale	0	0
Assets, Fair Value Disclosure	172	180
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Government National Mortgage Association (GNMA)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Federal Home Loan Mortgage Corporation (FHLMC)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Federal National Mortgage Association (FNMA)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | US Government Agency Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	0	0
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	$ 0	$ 0

Fair Value Measurements Text Ta

Fair Value Measurements Text Tag (Details)	6 Months Ended
	Sep. 30, 2019	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Percent of Total Assets Level 3		0.10%
Transfers between level 1 and level 2	0

Fair Value, Assets Measured o_2

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - Fair Value, Measurements, Recurring - Fair Value, Inputs, Level 3 - Other Assets - USD ($)	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ (7,000)	$ 26,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value - Beginning	180,000	181,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(8,000)	28,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value - Ending	$ 172,000	$ 209,000

Fair Value, Assets Measured o_3

Fair Value, Assets Measured on Recurring Basis, Valuation Techniques (Details) $ in Thousands		9 Months Ended	12 Months Ended
		Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Mar. 31, 2018USD ($)
Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights		$ 172	$ 180
Other investments		629
Fair Value, Measurements, Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights		172	180
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights			180
Fair Value, Measurements, Recurring | Other Assets | Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		$ 172	$ 180	$ 209	$ 181
Fair Value Measurements, Valuation Processes, Description		Discounted Cash Flow	Discounted Cash Flow
Servicing Asset, Measurement Input		0.0941	0.1119
Measurement Input, Constant Prepayment Rate | Fair Value, Measurements, Recurring | Other Assets | Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Measurements, Valuation Processes, Description	[1]	Weighted Average Constant Prepayment Rate(1)	Weighted Average Constant Prepayment Rate(1)
Measurement Input, Discount Rate | Fair Value, Measurements, Recurring | Other Assets | Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Measurements, Valuation Processes, Description	[1]	Option Adjusted Spread ("OAS") applied to Treasury curve	Option Adjusted Spread ("OAS" applied to Treasury curve
[1]	(1) Represents annualized loan repayment rate assumptions

Fair Value Measurements, Nonrec

Fair Value Measurements, Nonrecurring (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Real Estate Owned	$ 120	$ 404
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	1,314	2,027
Other Real Estate Owned	120	404
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	0	0
Other Real Estate Owned	0	0
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	0	0
Other Real Estate Owned	0	0
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	1,314	2,027
Other Real Estate Owned	$ 120	$ 404

Fair Value, Assets Measured o_4

Fair Value, Assets Measured on Nonrecurring Basis, Valuation Techniques (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2019	Mar. 31, 2019
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other Real Estate Owned	$ 120	$ 404
Fair Value, Measurements, Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	1,314	2,027
Other Real Estate Owned	120	404
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	1,314	2,027
Other Real Estate Owned	$ 120	$ 404
Fair Value Measurements, Valuation Processes, Description	Appraisal of collateral	Appraisal of collateral
Measurement Input, Appraised Value [Member] | Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Measurements, Valuation Processes, Description	Appraisal adjustments	Appraisal adjustments

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Financial Assets:
Held-to-maturity, Fair Value	$ 10,604	$ 11,107
Fair Value, Inputs, Level 1
Financial Assets:
Cash and cash equivalents	37,733	31,228
Securities Available-for-Sale	0	0
Held-to-maturity, Fair Value	0	0
Loans Receivable	0	0
Accrued interest receivable	0	0
Mortgage servicing rights	0	0
Other assets - Interest-bearing deposits	0	0
Financial Liabilities:
Deposits	278,925	277,360
Advances from FHLB of New York	0	0
Other borrowed money	0	0
Accrued interest payable	0	0
Fair Value, Inputs, Level 2
Financial Assets:
Cash and cash equivalents	0	0
Securities Available-for-Sale	70,443	79,845
Held-to-maturity, Fair Value	10,604	11,107
Loans Receivable	0	0
Accrued interest receivable	2,019	2,019
Mortgage servicing rights	0	0
Other assets - Interest-bearing deposits	980	976
Financial Liabilities:
Deposits	184,944	200,143
Advances from FHLB of New York	11,999	8,001
Other borrowed money	13,371	12,393
Accrued interest payable	2,426	1,931
Fair Value, Inputs, Level 3
Financial Assets:
Cash and cash equivalents	0	0
Securities Available-for-Sale	0	0
Held-to-maturity, Fair Value	0	0
Loans Receivable	422,890	424,013
Accrued interest receivable	0	0
Mortgage servicing rights	172	180
Other assets - Interest-bearing deposits	0	0
Financial Liabilities:
Deposits	0	0
Advances from FHLB of New York	0	0
Other borrowed money	0	0
Accrued interest payable	0	0
Reported Value Measurement
Financial Assets:
Cash and cash equivalents	37,733	31,228
Securities Available-for-Sale	70,443	79,845
Held-to-maturity, Fair Value	10,447	11,137
Loans Receivable	417,712	424,182
Accrued interest receivable	2,019	2,019
Mortgage servicing rights	172	180
Other assets - Interest-bearing deposits	980	976
Financial Liabilities:
Deposits	464,298	480,196
Advances from FHLB of New York	12,000	8,000
Other borrowed money	13,403	13,403
Accrued interest payable	2,426	1,931
Estimate of Fair Value Measurement
Financial Assets:
Cash and cash equivalents	37,733	31,228
Securities Available-for-Sale	70,443	79,845
Held-to-maturity, Fair Value	10,604	11,107
Loans Receivable	422,890	424,013
Accrued interest receivable	2,019	2,019
Mortgage servicing rights	172	180
Other assets - Interest-bearing deposits	980	976
Financial Liabilities:
Deposits	463,869	477,503
Advances from FHLB of New York	11,999	8,001
Other borrowed money	13,371	12,393
Accrued interest payable	$ 2,426	$ 1,931

Non-interest Revenue (Details)

Non-interest Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Noninterest income	$ 965	$ 1,327	$ 3,123	$ 3,710
Noninterest income out of scope of ASU 606
Disaggregation of Revenue [Line Items]
Noninterest income	35	348	405	890
Noninterest income in scope of ASU 606
Disaggregation of Revenue [Line Items]
Noninterest income	930	979	2,718	2,820
Depository fees and charges | Noninterest income in scope of ASU 606
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	846	862	2,461	2,549
Loan fees and service charges | Noninterest income in scope of ASU 606
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	70	102	216	223
Other noninterest income | Noninterest income in scope of ASU 606
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	$ 14	$ 15	$ 41	$ 48

Other Non-interest Revenue and

Other Non-interest Revenue and Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Noninterest Income, Other [Abstract]
Depository fees and charges	$ 0	$ 115	$ 208	$ 194
Other	37	82	186	272
Total non-interest income	37	197	394	466
Non-interest expense:
Advertising	32	66	234	242
Legal expense	316	95	489	338
Insurance and surety	158	146	463	514
Audit expense	136	125	398	456
Outsourced service	33	143	277	451
Data lines / internet	105	139	315	311
Retail expenses	175	195	551	609
Regulatory assessment	53	86	161	259
Investor relations	0	75	16	112
Director's fees	77	86	232	259
Other	528	504	1,447	1,666
Total non-interest expense	$ 1,613	$ 1,660	$ 4,583	$ 5,217

Leases (Details)

Leases (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	8 years 1 month 6 days	8 years 1 month 6 days
Finance Lease, Weighted Average Remaining Lease Term	3 years	3 years
Operating Lease, Weighted Average Discount Rate, Percent	3.00%	3.00%
Finance Lease, Weighted Average Discount Rate, Percent	1.83%	1.83%
Operating Lease, Expense	$ 743	$ 2,207
Finance Lease, Right-of-Use Asset, Amortization	16	20
Finance Lease, Interest Expense	1	1
Operating Lease, Payments	706	2,083
Finance Lease, Payments	$ 14	$ 30

Leases-Lease Liability, Maturit

Leases-Lease Liability, Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Apr. 01, 2019	Mar. 31, 2019
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	$ 685
Lessee, Operating Lease, Liability, Payments, Due Year Two	2,701
Lessee, Operating Lease, Liability, Payments, Due Year Three	2,600
Lessee, Operating Lease, Liability, Payments, Due Year Four	2,462
Lessee, Operating Lease, Liability, Payments, Due Year Five	2,535
Lessee, Operating Lease, Liability, Payments, Due after Year Five	10,231
Lessee, Operating Lease, Liability, Payments, Due	21,214
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(2,514)
Operating lease liability	18,700	$ 20,335	$ 0
Finance Lease, Liability, Payment, Due [Abstract]
Finance Lease, Liability, Payments, Due Next Twelve Months	18
Finance Lease, Liability, Payments, Due Year Two	69
Finance Lease, Liability, Payments, Due Year Three	69
Finance Lease, Liability, Payments, Due Year Four	28
Finance Lease, Liability, Payments, Due Year Five	8
Finance Lease, Liability, Payments, Due after Year Five	0
Finance Lease, Liability, Payment, Due	192
Finance Lease, Liability, Undiscounted Excess Amount	(5)
Finance Lease, Liability	$ 187

Leases Text Tags (Details)

Leases Text Tags (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2019USD ($)
Leases [Abstract]
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 5,300
Recognition of right-of-use asset	19,951
Finance Lease, Right-of-Use Asset	195
Finance Lease, Liability	$ 187

Impact of Recent Accounting S_2

Impact of Recent Accounting Standards Text Tag (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle	$ (5,300)
Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle		$ 0
Accounting Standards Update 2016-01 | Accumulated Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle		$ 721