Carver Bancorp (CARV) 10-Q 16 Feb 21 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Dec. 31, 2020	Feb. 12, 2021
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 Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	1905
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		3,062,850
Entity Shell Company	false
Entity Emerging Growth Company	false
Document Transition Report	false

Cover Page

Cover Page	9 Months Ended
	Dec. 31, 2020
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Entity File Number	001-13007
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
Entity Tax Identification Number	13-3904174
Entity Address, Postal Zip Code	10027
City Area Code	(718)
Local Phone Number	230-2900
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Smaller Reporting Company	true

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Cash and cash equivalents:
Cash and due from banks	$ 79,297	$ 47,280
Money market investments	254	260
Total cash and cash equivalents	79,551	47,540
Investment securities:
Available-for-sale	100,181	65,829
Held-to-maturity	9,164	10,151
Total investment securities	109,345	75,980
Loans receivable:
Loans, gross	468,593	428,732
Allowance for loan losses	(5,138)	(4,946)
Total loans receivable, net	463,455	423,786
Premises and equipment, net	4,783	5,377
Federal Home Loan Bank of New York (“FHLB-NY”) stock, at cost	552	568
Accrued interest receivable	2,910	2,052
Right-of-use assets	15,931	17,614
Other assets	9,872	5,853
Total assets	686,399	578,770
Deposits:
Non-interest bearing checking	98,707	57,489
Interest-bearing deposits:
Interest-bearing checking	32,449	24,016
Savings	113,076	97,812
Money market	135,980	112,634
Certificates of deposit	186,752	194,287
Escrow	2,778	2,577
Total interest-bearing deposits	471,035	431,326
Total deposits	569,742	488,815
Advances from the FHLB-NY and other borrowed money	41,764	13,573
Operating lease liability	16,565	18,153
Other liabilities	11,920	9,335
Total liabilities	639,991	529,876
EQUITY
Preferred stock	18,076	45,118
Common stock	55	61
Additional paid-in capital	72,509	55,476
Accumulated deficit	$ (41,691)	$ (52,285)
Treasury Stock	2,503,803	1,944
Treasury stock	$ (2,908)	$ (408)
Accumulated other comprehensive income	367	932
Total equity	46,408	48,894
Total liabilities and equity	686,399	578,770
Real Estate
Loans receivable:
Loans, gross	338,290	339,825
Business
Loans receivable:
Loans, gross	127,548	85,659
Allowance for loan losses	(1,838)	(1,567)
Consumer
Loans receivable:
Loans, gross	2,755	3,248
Allowance for loan losses	$ (190)	$ (212)

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition Consolidated Statements of Financial Condition Parentheticals - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Statement of Financial Position [Abstract]
Held-to-maturity, Fair Value	$ 9,551	$ 10,564
Series D Convertible Preferred Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Series D Convertible Preferred Stock, Shares Issued (in shares)	18,076	45,118
Series D Convertible Preferred Stock, Shares Outstanding (in shares)	18,076	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)	5,508,560	3,701,449
Common Stock, Shares Outstanding (in shares)	3,004,757	3,699,505
Treasury Stock	2,503,803	1,944

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Interest income:
Loans	$ 4,749	$ 4,906	$ 13,804	$ 14,318
Mortgage-backed securities	192	276	509	885
Investment securities	277	190	716	702
Money market investments	21	120	70	460
Total interest income	5,239	5,492	15,099	16,365
Interest expense:
Deposits	938	1,155	3,048	3,544
Advances and other borrowed money	162	308	492	776
Total interest expense	1,100	1,463	3,540	4,320
Net interest income	4,139	4,029	11,559	12,045
Provision for (recovery of) loan losses	4	8	(99)	16
Net interest income after provision for (recovery of) loan losses	4,135	4,021	11,658	12,029
Non-interest income:
Depository fees and charges	692	846	2,041	2,461
Loan fees and service charges	65	82	234	243
Gain on sale of securities	0	0	862	0
Gain on sale of loans, net	0	0	0	25
Other	142	37	1,418	186
Total non-interest income	899	965	4,555	2,915
Non-interest expense:
Employee compensation and benefits	2,837	2,799	8,369	8,327
Net occupancy expense	1,066	1,097	3,296	3,361
Equipment, net	386	392	1,239	1,032
Data processing	451	445	1,564	1,271
Consulting fees	38	19	154	147
Federal deposit insurance premiums	107	57	265	56
Other	1,459	1,613	4,257	4,375
Total non-interest expense	6,344	6,422	19,144	18,569
Loss before income taxes	(1,310)	(1,436)	(2,931)	(3,625)
Income tax expense	0	0	0	0
Net loss	$ (1,310)	$ (1,436)	$ (2,931)	$ (3,625)
Loss per common share:
Loss per Share, Basic (in dollars per share)	$ (0.44)	$ (0.39)	$ (0.84)	$ (0.98)
Loss per Share, Diluted (in dollars per share)	$ (0.44)	$ (0.39)	$ (0.84)	$ (0.98)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss Statement - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (1,310)	$ (1,436)	$ (2,931)	$ (3,625)
Other comprehensive income (loss), net of tax:
Unrealized (loss) gain of securities available-for sale, net of tax	346	(98)	297	923
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	0	862	0
Reclassification adjustment for gains on sale of available-for-sale securities, Tax			0	0
Other comprehensive loss, net of taxes	346	(98)	(565)	923
Total comprehensive (loss) income, net of tax	$ (964)	$ (1,534)	$ (3,496)	$ (2,702)

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock	Accumulated Other Comprehensive Loss
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
Contributed Capital	0
Repurchase of Common Stock	0
Stock based compensation expense	6		0	0	6	0	0	0
Equity - Ending Balance at Dec. 31, 2019	49,779	$ 5,339	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	$ 5,339	45,118	61	55,520	(50,487)	(417)	(16)
Equity - Beginning Balance at Mar. 31, 2020	48,894		45,118	61	55,476	(52,285)	(408)	932
Net loss	(2,931)		0	0	0		0	0
Other comprehensive loss, net of taxes	(565)		0	0	0	0	0	(565)
Stock Issued During Period, Value, Conversion of Convertible Securities	0		(13,519)	(17)	(13,502)	0	0	0
Stock Relinquished During Period, Value			(13,523)	(2)		(13,525)
Contributed Capital	2,500				2,500		0
Repurchase of Common Stock	2,500				0		(2,500)
Stock Issued During Period, Value, New Issues	974			1	973
Stock based compensation expense	36		0	(22)	58	0	0	0
Equity - Ending Balance at Dec. 31, 2020	46,408		18,076	55	72,509	(41,691)	(2,908)	367
Equity - Beginning Balance at Sep. 30, 2020	46,396		18,076	54	71,534	(40,381)	(2,908)	21
Net loss	(1,310)		0	0	0		0	0
Other comprehensive loss, net of taxes	346		0	0	0	0	0	346
Stock Issued During Period, Value, New Issues	974			1	973
Stock based compensation expense	2		0	0	2	0	0	0
Equity - Ending Balance at Dec. 31, 2020	$ 46,408		$ 18,076	$ 55	$ 72,509	$ (41,691)	$ (2,908)	$ 367

Consolidated Statements of Cash

Consolidated Statements of Cash Flows	9 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (2,931,000)	$ (3,625,000)
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for (recovery of) loan losses	(99,000)	16,000
Stock based compensation expense	36,000	6,000
Depreciation and amortization expense	769,000	698,000
Gain on sale of real estate owned, net of market value adjustment	(80,000)	(208,000)
Gain on sale of securities	(862,000)	0
Gain on sale of loans, net	0	(25,000)
Amortization and accretion of loan premiums and discounts and deferred charges	557,000	354,000
Amortization and accretion of premiums and discounts — securities	430,000	700,000
Increase in accrued interest receivable	(858,000)	0
(Increase) decrease in other assets	(3,970,000)	3,478,000
Increase in other liabilities	2,547,000	1,057,000
Net cash (used in) provided by operating activities	(4,461,000)	2,451,000
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of investments: Available-for-sale	(74,475,000)	0
Proceeds from Sale of Available-for-sale Securities	30,190,000	0
Proceeds from principal payments, maturities and calls of investments: Available-for-sale	10,094,000	9,647,000
Proceeds from principal payments, maturities and calls of investments: Held-to-maturity	957,000	663,000
Repayments and maturities, net of originations of loans	(16,376,000)
Repayments and maturities, net of originations of loans held-for-investment		(26,638,000)
Loans purchased from third parties	(24,141,000)	(20,902,000)
Proceeds on sale of loans	0	602,000
Redemption (purchase) of FHLB-NY stock, net	16,000	(182,000)
Purchase of premises and equipment	(184,000)	(1,212,000)
Proceeds from sales of real estate owned	260,000	511,000
Net cash (used in) provided by investing activities	(73,659,000)	15,765,000
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase (decrease) in deposits	80,927,000	(15,898,000)
Increase in FHLB-NY advances and other borrowings	28,230,000	4,187,000
Contributed Capital	2,500,000	0
Repurchase of Common Stock	(2,500,000)	0
Issuance of common stock	974,000	0
Net cash provided by (used in) financing activities	110,131,000	(11,711,000)
Net increase in cash and cash equivalents	32,011,000	6,505,000
Cash and cash equivalents at beginning of period	47,540,000	31,228,000
Cash and cash equivalents at end of period	79,551,000	37,733,000
Noncash financing and investing activities
Recognition of right-of-use asset		19,951,000
Recognition of operating lease liability	16,565,000
Recognition of finance lease asset	13,000	216,000
Recognition of finance lease liability	13,000	206,000
Cash paid for:
Interest	3,186,000	3,825,000
Income taxes	$ 57,000	$ 53,000

Organization

Organization	9 Months Ended
	Dec. 31, 2020
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 3.28% and the total amount of deferred interest was $3.0 million at December 31, 2020. 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, 2020
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, 2020 are not necessarily indicative of the results that may be expected for the year ended March 31, 2021. The consolidated balance sheet at December 31, 2020 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, 2020. 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, 2020
Earnings Per Share [Abstract]
Earnings Per Common Share	PER COMMON SHARE The following table reconciles the loss available to common shareholders (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 December 31, $ in thousands except per share data 2020 2019 2020 2019 Net loss $ (1,310) $ (1,436) (2,931) (3,625) Weighted average common shares outstanding - basic 2,980,655 3,699,406 3,485,488 3,699,203 Weighted average common shares outstanding – diluted 2,980,655 3,699,406 3,485,488 3,699,203 Basic loss per common share $ (0.44) $ (0.39) $ (0.84) $ (0.98) Diluted loss per common share (0.44) (0.39) (0.84) (0.98) For the three and nine months ended December 31, 2020 and 2019, all restricted shares and outstanding stock options were anti-dilutive.

Common Stock Dividends and Issu

Common Stock Dividends and Issuances	9 Months Ended
	Dec. 31, 2020
Dividends [Abstract]
Stockholders' Equity Note Disclosure	COMMON STOCK DIVIDENDS AND ISSUANCES 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. In June 2020, The Goldman Sachs Group, Inc., an institutional investor, notified the Company of their intention to effect a series of transfers of up to all its holdings of Series D Preferred Stock. The conversion and subsequent sale of shares were completed on July 2, 2020: 13,519 Series D Preferred Stock shares were converted into 1,653,397 shares of Common Stock, which were subsequently sold in the open market. The conversion and sale had no impact on the Company's total capital. On July 9, 2020, the Company received notice that Morgan Stanley International Holdings Inc., an institutional investor, relinquished its ownership of 180,573 shares of Company common stock and 13,523 shares of Company Preferred Series D Stock to the Company at no cost to the Company. On July 30, 2020, the Company reached an agreement in principle (the "Agreement in Principle") with the United States Department of the Treasury (the "Treasury Department") to repurchase 2,321,286 shares of common stock of the Company, owned by the Treasury Department for an aggregate purchase price of $2.5 million. In connection with the Agreement in Principle, Morgan Stanley provided a grant that was considered contributed capital to the Company to fund the repurchase transaction. The Company executed a written agreement with the Treasury Department and completed the repurchase on August 6, 2020.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	9 Months Ended
	Dec. 31, 2020
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, 2020 and 2019: $ in thousands At Other At December 31, 2020 Net unrealized income (loss) on securities available-for-sale $ 932 $ (565) $ 367 $ in thousands At Other At December 31, 2019 Net unrealized income (loss) on securities available-for-sale $ (939) $ 923 $ (16)

Investment Securities

Investment Securities	9 Months Ended
	Dec. 31, 2020
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, 2020, $100.2 million, or 91.6%, of the Bank’s total securities were classified as available-for-sale, and $9.2 million, or 8.4%, were classified as held-to-maturity. The Bank had no securities classified as trading at December 31, 2020 and March 31, 2020. Other investments as of December 31, 2020 primarily consists of the Bank's investment in a limited partnership Community Capital Fund. These securities are measured at fair value with unrealized holding gains and losses reflected in net income. Other investments totaled $925 thousand at December 31, 2020 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, 2020 and March 31, 2020: At December 31, 2020 Amortized Gross Unrealized $ in thousands Cost Gains Losses Fair Value Available-for-Sale: Mortgage-backed Securities: Government National Mortgage Association $ 1,223 $ 47 $ — $ 1,270 Federal Home Loan Mortgage Corporation 29,259 93 183 29,169 Federal National Mortgage Association 15,379 1 — 15,380 Total mortgage-backed securities 45,861 141 183 45,819 U.S. Government Agency Securities 19,816 — 138 19,678 Corporate Bonds 5,275 78 — 5,353 Muni Securities 17,769 119 11 17,877 Asset-backed Securities 11,093 387 26 11,454 Total available-for-sale $ 99,814 $ 725 $ 358 $ 100,181 Held-to-Maturity: Mortgage-backed Securities: Government National Mortgage Association $ 736 $ 69 $ — $ 805 Federal National Mortgage Association and Other 7,428 318 — 7,746 Total held-to-maturity mortgage-backed securities 8,164 387 — 8,551 Corporate Bonds 1,000 — — 1,000 Total held-to maturity $ 9,164 $ 387 $ — $ 9,551 At March 31, 2020 Amortized Gross Unrealized $ in thousands Cost Gains Losses Fair Value Available-for-Sale: Mortgage-backed Securities: Government National Mortgage Association $ 3,510 $ 77 $ — $ 3,587 Federal Home Loan Mortgage Corporation 9,244 312 18 9,538 Federal National Mortgage Association 21,495 673 — 22,168 Total mortgage-backed securities 34,249 1,062 18 35,293 U.S. Government Agency Securities 26,616 20 155 26,481 Corporate Bonds 4,032 33 10 4,055 Total available-for-sale $ 64,897 $ 1,115 $ 183 $ 65,829 Held-to-Maturity: Mortgage-backed Securities: Government National Mortgage Association $ 972 $ 76 $ — $ 1,048 Federal National Mortgage Association and Other 8,179 342 — 8,521 Total held-to-maturity mortgage-backed securities 9,151 418 — 9,569 Corporate Bonds 1,000 — 5 995 Total held-to-maturity $ 10,151 $ 418 $ 5 $ 10,564 The following is a summary regarding proceeds, gross gains and gross losses realized from the sale of securities from the available-for-sale portfolio for the nine months ended December 31, 2020. There were no sales of available-for-sale and held-to-maturity securities for the three months ended December 31, 2020. $ in thousands December 31, 2020 Proceeds $ 30,190 Gross gains 862 Gross losses — The following tables set forth the unrealized losses and fair value of securities in an unrealized loss position at December 31, 2020 and March 31, 2020 for less than 12 months and 12 months or longer: At December 31, 2020 Less than 12 months 12 months or longer Total $ in thousands Unrealized Fair Unrealized Fair Unrealized Fair Available-for-Sale: Mortgage-backed securities $ 182 $ 25,356 $ 1 $ 426 $ 183 $ 25,782 U.S. Government Agency securities — — 138 19,678 138 19,678 Corporate bonds — — — — — — Muni securities 11 2,914 — — 11 2,914 Asset-backed securities 26 2,481 — — 26 2,481 Total available-for-sale securities $ 219 $ 30,751 $ 139 $ 20,104 $ 358 $ 50,855 At March 31, 2020 Less than 12 months 12 months or longer Total $ in thousands Unrealized Fair Unrealized Fair Unrealized Fair Available-for-Sale: Mortgage-backed securities $ — $ — $ 18 $ 619 $ 18 $ 619 U.S. Government Agency securities 155 21,494 155 21,494 Corporate bonds 10 1,999 — — 10 1,999 Total available-for-sale securities $ 10 $ 1,999 $ 173 $ 22,113 $ 183 $ 24,112 Held-to-Maturity: Corporate bonds $ 5 $ 995 $ — $ — $ 5 $ 995 Total held-to-maturity securities $ 5 $ 995 $ — $ — $ 5 $ 995 A total of 9 securities had an unrealized loss at December 31, 2020 compared to 7 at March 31, 2020. Mortgage-backed securities and U.S. government agency securities represented 50.7% and 38.7%, respectively, of total available-for-sale securities in an unrealized loss position at December 31, 2020. There was one mortgage-backed security and three U.S. government agency securities that had an unrealized loss position for more than 12 months at December 31, 2020. Given the high credit quality of the securities which are backed by the U.S. government's guarantees, 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 Bank did not have any securities that were classified as having other-than-temporary impairment in its investment portfolio at December 31, 2020. The following is a summary of the amortized cost and fair value of debt securities at December 31, 2020, 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: One through five years 3,761 3,756 3.04 % Five through ten years 6,043 5,992 1.34 % After ten years 44,149 44,614 1.85 % Mortgage-backed securities 45,861 45,819 1.25 % Total $ 99,814 $ 100,181 1.59 % Held-to-maturity: One through five years $ 1,000 $ 1,000 4.15 % Mortgage-backed securities 8,164 8,551 2.41 % Total $ 9,164 $ 9,551 2.60 %

Loans Receivable and Allowance

Loans Receivable and Allowance for Loan and Lease Losses	9 Months Ended
	Dec. 31, 2020
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. The general valuation allowance applied to those pooled loans not deemed to be impaired is determined using a three step process: • Trends of historical losses where the net charge-offs on each category are reviewed over a 20 quarter look back period. • Assessment of several qualitative factors which are adjusted to reflect changes in the current environment. • Loss Emergence Period reserve "LEP" which takes into account that borrowers have the potential to have suffered some form of loss-causing event or circumstance but that the lender may be unaware of the event. During the fourth quarter of fiscal 2020, we changed the impact rating of the economic factors (related to unemployment and inflation rate) and collateral factors from moderate to high across all loan categories. Additionally, the factors related to problem loans (including delinquency and credit quality) in the Commercial Real Estate category were increased from moderate to high. These changes were made as a response to the ongoing and expected stressed economic environment resulting from the COVID-19 pandemic. During fiscal 2021, we increased our qualitative factors due to the ongoing pandemic. These increases in reserves were offset by decreases in our quantitative reserve analysis as the rolling 20 quarter historical loss look back period has improved for most of our loan categories. 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, 2020 and March 31, 2020: December 31, 2020 March 31, 2020 $ in thousands Amount Percent Amount Percent Gross loans receivable: One-to-four family $ 81,678 17.5 % $ 105,532 24.8 % Multifamily 107,089 23.0 % 89,241 21.0 % Commercial real estate 146,742 31.5 % 141,761 33.3 % Business (1) 127,579 27.4 % 85,425 20.1 % Consumer (2) 2,727 0.6 % 3,213 0.8 % Total loans receivable $ 465,815 100.0 % $ 425,172 100.0 % Unamortized premiums, deferred costs and fees, net 2,778 3,560 Allowance for loan losses (5,138) (4,946) Total loans receivable, net $ 463,455 $ 423,786 (1) Includes PPP loans and business overdrafts (2) Includes personal loans and consumer overdrafts The Bank is participating as a lender in the Paycheck Protection Program ("PPP"), which opened on April 3, 2020. As part of the CARES Act, the Small Business Administration ("SBA") is authorized to temporarily guarantee loans under this new 7(a) loan program. Under the PPP, small businesses and other entities and individuals can apply for loans from existing SBA lenders and other approved regulated lenders that enroll in the program, subject to numerous limitations and eligibility criteria. Since the PPP loans are fully guaranteed by the SBA, there are no additional ALLL reserves required. As of December 31, 2020, the Bank has approved and funded approximately 203 applications totaling $34.7 million of loans under the PPP. Consistent with regulatory guidance and the provisions of the CARES Act, loans less than 30 days past due at December 31, 2019 that were granted COVID-19 related payment deferrals will continue to be considered current and not be reported as TDRs. For the nine months ended December 31, 2020, the Bank has received 85 applications for payment deferrals on approximately $92.8 million of loans. This total includes 61 commercial loans totaling $85.3 million and 24 residential loans totaling $7.5 million. The Bank has been working with the borrowers to determine if there is a risk of any losses associated with repayment and if any additional reserves would have to be allocated to this portfolio. As of December 31, 2020, we have 12 residential loans remaining that are on deferment with outstanding principal balances totaling $4.8 million. 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, 2020 and 2019, and the fiscal year ended March 31, 2020. Three months ended December 31, 2020 $ in thousands One-to-four Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance 953 960 969 1,636 189 209 4,916 Charge-offs — — — (5) (52) — (57) Recoveries 1 — — 273 1 — 275 Provision for (recovery of) Loan Losses (90) 67 (3) (66) 52 44 4 Ending Balance $ 864 $ 1,027 $ 966 $ 1,838 $ 190 $ 253 $ 5,138 Nine months ended December 31, 2020 $ in thousands One-to-four Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1,055 $ 1,011 $ 812 $ 1,567 $ 212 $ 289 $ 4,946 Charge-offs — — — (24) (52) — (76) Recoveries 88 — — 275 4 — 367 Provision for (recovery of) Loan Losses (279) 16 154 20 26 (36) (99) Ending Balance $ 864 $ 1,027 $ 966 $ 1,838 $ 190 $ 253 $ 5,138 Allowance for Loan Losses Ending Balance: collectively evaluated for impairment $ 831 $ 1,027 $ 966 $ 1,697 $ 190 $ 253 $ 4,964 Allowance for Loan Losses Ending Balance: individually evaluated for impairment 33 — — 141 — — 174 Loan Receivables Ending Balance: $ 83,047 $ 107,723 $ 147,520 $ 127,548 $ 2,755 $ — $ 468,593 Ending Balance: collectively evaluated for impairment 79,208 107,353 146,360 119,615 2,755 — 455,291 Ending Balance: individually evaluated for impairment 3,839 370 1,160 7,933 — — 13,302 At March 31, 2020 $ in thousands One-to-four family Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for Loan Losses Ending Balance: collectively evaluated for impairment $ 899 $ 1,011 $ 812 $ 1,557 $ 212 $ 289 $ 4,780 Allowance for Loan Losses Ending Balance: individually evaluated for impairment 156 — — 10 — — 166 Loan Receivables Ending Balance: $ 107,528 $ 89,887 $ 142,410 $ 85,659 $ 3,248 $ — $ 428,732 Ending Balance: collectively evaluated for impairment 102,902 89,512 142,410 82,210 3,248 — 420,282 Ending Balance: individually evaluated for impairment 4,626 375 — 3,449 — — 8,450 Three months ended December 31, 2019 $ in thousands One-to-four family 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 family 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 The following is a summary of nonaccrual loans at December 31, 2020 and March 31, 2020. $ in thousands December 31, 2020 March 31, 2020 Gross loans receivable: One-to-four family $ 3,532 $ 3,582 Multifamily 372 375 Commercial real estate 1,160 — Business 2,413 2,797 Consumer — 22 Total nonaccrual loans $ 7,477 $ 6,776 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, 2020, other non-performing assets totaled $60 thousand which consisted of other real estate owned comprised of one foreclosed residential property, compared to $120 thousand comprised of two foreclosed residential properties at March 31, 2020. Other real estate loans is included in other assets in the consolidated statements of financial condition. There were no held-for-sale loans at December 31, 2020 and March 31, 2020. Although we believe that substantially all risk elements at December 31, 2020 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, 2020, 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 $ 102,531 $ 143,872 $ 115,591 Special Mention — 2,296 3,102 Substandard 5,192 1,352 8,855 Total $ 107,723 $ 147,520 $ 127,548 One-to-four family Consumer Credit Risk Profile Based on Payment Activity: Performing $ 79,711 $ 2,755 Non-Performing 3,336 — Total $ 83,047 $ 2,755 At March 31, 2020, 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 $ 89,512 $ 141,793 $ 80,016 Special Mention — 617 2,184 Substandard 375 — 3,459 Total $ 89,887 $ 142,410 $ 85,659 One-to-four family Consumer Credit Risk Profile Based on Payment Activity: Performing $ 103,946 $ 3,225 Non-Performing 3,582 23 Total $ 107,528 $ 3,248 The following table presents an aging analysis of the recorded investment of past due loans receivables at December 31, 2020 and March 31, 2020. December 31, 2020 $ in thousands 30-59 Days 60-89 Days 90 or More Days Past Due Total Past Current Total Loans One-to-four family $ 882 $ 247 $ 2,953 $ 4,082 $ 78,965 $ 83,047 Multifamily 8,333 1,076 — 9,409 98,314 107,723 Commercial real estate 2,671 1,419 2,091 6,181 141,339 147,520 Business 620 421 1,256 2,297 125,251 127,548 Consumer 25 82 — 107 2,648 2,755 Total $ 12,531 $ 3,245 $ 6,300 $ 22,076 $ 446,517 $ 468,593 March 31, 2020 $ in thousands 30-59 Days 60-89 Days 90 or More Days Past Due Total Past Current Total Loans Receivables One-to-four family $ 1,410 $ — $ 3,202 $ 4,612 $ 102,916 $ 107,528 Multifamily 490 — — 490 89,397 89,887 Commercial real estate 6,621 — — 6,621 135,789 142,410 Business 1,360 3 700 2,063 83,596 85,659 Consumer 103 1 23 127 3,121 3,248 Total $ 9,984 $ 4 $ 3,925 $ 13,913 $ 414,819 $ 428,732 The following table presents information on impaired loans with the associated allowance amount, if applicable, at December 31, 2020 and March 31, 2020. At December 31, 2020 At March 31, 2020 $ in thousands Recorded Unpaid Associated Recorded Unpaid Associated With no specific allowance recorded: One-to-four family $ 3,762 $ 4,420 $ — $ 3,819 $ 4,566 $ — Multifamily 370 372 — 375 376 — Commercial real estate 1,160 1,160 — — — — Business 2,471 2,630 — 2,797 2,917 — With an allowance recorded: One-to-four family 77 73 33 807 803 156 Business 5,462 5,462 141 652 652 10 Total $ 13,302 $ 14,117 $ 174 $ 8,450 $ 9,314 $ 166 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, 2020 and 2019. For the Three Months Ended December 31, For the Nine Months Ended December 31, 2020 2019 2020 2019 $ 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 $ 3,790 $ 10 $ 4,143 $ 14 $ 3,767 $ 50 $ 4,390 $ 43 Multifamily 373 4 1,406 14 371 13 1,796 45 Commercial real estate 580 — — — 1,160 — 238 — Business 2,634 26 2,096 16 2,445 86 2,374 41 With an allowance recorded: One-to-four family 442 — 813 — 77 — 870 — Business 3,057 — 780 — 3,007 — 979 — Total $ 10,876 $ 40 $ 9,238 $ 44 $ 10,827 $ 149 $ 10,647 $ 129 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, 2020 were $7.6 million, $1.8 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, 2020, total TDR loans were $3.9 million, of which $2.2 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 was one loan modification made during the three and nine month periods ended December 31, 2020. There were no loan modifications made during the three and nine month periods ended December 31, 2019. Loan Modifications during the three month period ended Loan Modifications during the nine month period ended December 31, 2020 December 31, 2020 $ in thousands Number of loans Pre-Modification Recorded investment Post-Modification Recorded investment Pre-Modification rate Post-Modification rate Number of loans Pre-Modification Recorded investment Post-Modification Recorded investment Pre-Modification rate Post-Modification rate Business 1 4,949 4,949 6.68 5.50 1 4,949 4,949 6.68 % 5.50 % 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, 2020 and 2019, there were no modified loans that defaulted within 12 months of modification. At December 31, 2020, there were 5 loans in the TDR portfolio totaling $5.8 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, 2020, there were 6 loans in the TDR portfolio totaling $1.7 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 $60 thousand at December 31, 2020 and $70 thousand at March 31, 2020. During the nine months ended December 31, 2020, 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, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS 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. Fair value measurements are categorized in a 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, 2020 and March 31, 2020, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates: Fair Value Measurements at December 31, 2020, Using $ in thousands Quoted Prices in Active Markets for Identical Assets Significant Other Significant Total Fair Mortgage servicing rights $ — $ — $ 142 $ 142 Investment securities Available-for-sale: Mortgage-backed securities: Government National Mortgage Association — 1,270 — 1,270 Federal Home Loan Mortgage Corporation — 29,169 — 29,169 Federal National Mortgage Association — 15,380 — 15,380 U.S. Government Agency securities — 19,678 — 19,678 Corporate bonds — 5,353 — 5,353 Muni securities — 17,877 — 17,877 Asset-backed securities — 11,454 — 11,454 Total available-for-sale securities — 100,181 — 100,181 Total $ — $ 100,181 $ 142 $ 100,323 Fair Value Measurements at March 31, 2020, Using $ in thousands Quoted Prices in Significant Other Significant Total Fair Mortgage servicing rights $ — $ — $ 145 $ 145 Investment securities Available-for-sale: Mortgage-backed securities: Government National Mortgage Association — 3,587 — 3,587 Federal Home Loan Mortgage Corporation — 9,538 — 9,538 Federal National Mortgage Association — 22,168 — 22,168 U.S. Government Agency securities — 26,481 — 26,481 Corporate bonds — 4,055 — 4,055 Total available-for-sale securities — 65,829 — 65,829 Total assets $ — $ 65,829 $ 145 $ 65,974 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 0.02% and 0.03% of the Company’s total assets measured at fair value at December 31, 2020 and March 31, 2020, respectively. 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, 2020, 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, 2020 and 2019: $ in thousands Beginning balance, Total Realized/Unrealized Gains/(Losses) Recorded in Income (1) Issuances / (Settlements) Transfers to/(from) Level 3 Ending balance, December 31, 2020 Change in Unrealized Gains/(Losses) Related to Instruments Held at December 31, 2020 Mortgage servicing rights 145 (3) — — 142 2 $ in thousands Beginning balance, Total Realized/Unrealized Gains/(Losses) Recorded in Income (1) Issuances / (Settlements) Transfers to/(from) Level 3 Ending balance, December 31, 2019 Change in Unrealized Gains/(Losses) Related to Instruments Held at December 31, 2019 Mortgage servicing rights 180 (8) — — 172 (7) (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, 2020 and March 31, 2020, the significant unobservable inputs used in the fair value measurements were as follows: $ in thousands Fair Value December 31, 2020 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Mortgage servicing rights 142 Discounted Cash Flow Weighted Average Constant Prepayment Rate (1) 15.33 % 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 145 Discounted Cash Flow Weighted Average Constant Prepayment Rate (1) 15.64 % Option Adjusted Spread ("OAS" applied to Treasury curve 1200 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, 2020 and March 31, 2020, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates: Fair Value Measurements at December 31, 2020 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 $ — $ — $ 5,365 $ 5,365 Other real estate owned — — 60 $ 60 Fair Value Measurements at March 31, 2020, 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 $ — $ — $ 1,293 $ 1,293 Other real estate owned — — 120 $ 120 For Level 3 assets measured at fair value on a non-recurring basis as of December 31, 2020 and March 31, 2020, the significant unobservable inputs used in the fair value measurements were as follows: $ in thousands Fair Value December 31, 2020 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Impaired loans $ 5,365 Appraisal of collateral Appraisal adjustments 7.5% cost to sell Other real estate owned 60 Appraisal of collateral Appraisal adjustments 7.5% cost to sell $ in thousands Fair Value March 31, 2020 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Impaired loans $ 1,293 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 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 fair value.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Dec. 31, 2020
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, 2020 and March 31, 2020 are as follows: December 31, 2020 $ in thousands Carrying Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets: Cash and cash equivalents $ 79,551 $ 79,551 $ 79,551 $ — $ — Securities available-for-sale 100,181 100,181 — 100,181 — Securities held-to-maturity 9,164 9,551 — 9,551 — Loans receivable 463,455 478,144 — — 478,144 Accrued interest receivable 2,910 2,910 — 2,910 — Mortgage servicing rights 142 142 — — 142 Financial Liabilities: Deposits $ 569,742 $ 569,159 $ 380,212 $ 188,947 $ — Other borrowed money 41,633 41,705 — 41,705 — Accrued interest payable 3,050 3,050 — 3,050 — March 31, 2020 $ 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 $ 47,540 $ 47,540 $ 47,540 $ — $ — Securities available-for-sale 65,829 65,829 — 65,829 — Securities held-to-maturity 10,151 10,564 — 10,564 — Loans receivable 423,786 438,017 — — 438,017 Accrued interest receivable 2,052 2,052 — 2,052 — Mortgage servicing rights 145 145 — — 145 Other assets - Interest-bearing deposits 981 981 — 981 — Financial Liabilities: Deposits $ 488,815 $ 489,309 $ 291,951 $ 197,358 $ — Other borrowed money 13,403 13,386 — 13,386 — Accrued interest payable 2,695 2,695 — 2,695 —

Non-interest Revenue and Expens

Non-interest Revenue and Expense	9 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	NON-INTEREST REVENUE AND EXPENSE 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 includes correspondent banking fees, and income associated with 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. Interchange income The Company earns interchange fees from debit card holder transactions conducted through various payment networks. Interchangee fees from cardholder transactions are recognized daily, concurrently with the transaction processing services provided by an outsource technology solution and are presented on a net 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, 2020 and 2019: Three Months Ended December 31, Nine Months Ended December 31, $ in thousands 2020 2019 2020 2019 Non-interest income In-scope of Topic 606 Depository fees and charges $ 692 $ 846 $ 2,041 $ 2,461 Loan fees and service charges 27 70 167 216 Other non-interest income 18 14 722 41 Non-interest income (in-scope of Topic 606) 737 930 2,930 2,718 Non-interest income (out-of-scope of Topic 606) 162 35 1,625 197 Total non-interest income $ 899 $ 965 $ 4,555 $ 2,915 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 2020 2019 2020 2019 Other non-interest income: Compliance fee $ 78 $ (9) $ 78 $ 47 Grant income — — 500 — Correspondent banking fees 7 — 687 — Other 57 46 153 139 Total non-interest income $ 142 $ 37 $ 1,418 $ 186 Other non-interest expense: Advertising $ 119 $ 32 $ 189 $ 234 Legal expense 93 316 355 489 Insurance and surety 232 158 565 463 Audit expense 138 136 413 398 Outsourced service 21 33 67 277 Data lines / internet 109 105 318 315 Retail expenses 216 175 607 551 Director's fees 85 77 255 232 Other 446 581 1,488 1,416 Total non-interest expense $ 1,459 $ 1,613 $ 4,257 $ 4,375

Leases

Leases	9 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Lessee, Operating Leases	LEASES On April 1, 2019, the Company adopted 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 of December 31, 2020, operating ROU lease assets and related lease liabilities totaled $15.9 million and $16.6 million, respectively. 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, 2020, the Company had $138 thousand and $131 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, 2020: December 31, 2020 Weighted-average remaining lease term Operating leases 7.3 years Finance lease 2.5 years Weighted-average discount rate Operating leases 3.01 % Finance lease 1.78 % Three Months Ended December 31, Nine Months Ended December 31, $ in thousands 2020 2019 2020 2019 Operating lease expense $ 714 $ 743 $ 2,141 $ 2,207 Finance lease cost Amortization of right-of use asset 17 16 56 20 Interest on lease liability 1 1 2 1 Cash paid for amounts included in the measurement of lease liabilities Operating leases 682 706 2,047 2,083 Finance lease 23 14 54 30 Maturities of lease liabilities at December 31, 2020 are as follows: $ in thousands Operating Leases Finance Leases Year ending March 31, 2021 $ 685 $ 18 2022 2,619 72 2023 2,479 30 2024 2,535 11 2025 2,318 3 Thereafter 7,913 — Total lease payments 18,549 134 Interest (1,984) (3) Lease liability $ 16,565 $ 131

Impact of Recent Accounting Sta

Impact of Recent Accounting Standards	9 Months Ended
	Dec. 31, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements Not Yet Adopted	IMPACT OF RECENT ACCOUNTING STANDARDS Accounting Standards Recently Adopted On April 1, 2020, the Company adopted ASU No. 2018-13 "Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement," which improved the effectiveness of disclosures in the notes to financial statements by facilitating clear communication of the information required by GAAP that is most important to users of an entity's financial statements. The amendments removed the disclosure requirements for (1) transfers between Levels 1 and 2 of the fair value hierarchy, (2) the policy for timing of transfers between levels, and (3) the valuation processes for Level 3 fair value measurements. Additionally, the amendments modified the disclosure requirements for investments in certain entities that calculate net asset value and measurement uncertainty. Finally, the amendments added disclosure requirements for (1) the changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements, and (2) the range and weighted average of significant unobservable inputs used to develop Level 3 measurements. The adoption of the standard did not have a material impact on the Company's consolidated statements of financial condition and results of operations. On April 1, 2019, the Company adopted ASC Topic 842, 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 does not 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. The Company adopted this ASU 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. The Company did not elect the use-of-hindsight or the practical expedient pertaining to land easements, the latter not being applicable to the Company. Topic 842 also provides certain accounting policy elections for an entity’s ongoing accounting. For operating leases wherein the Company is the lessee, the Company has elected the practical expedient to not separate lease and non-lease components. Upon adoption, the Company recorded ROU assets and corresponding operating lease liabilities totaling $20.0 million. In addition, a $5.3 million cumulative effect adjustment to retained earnings was recorded to recognize the total deferred gain from the sale of buildings at the adoption date. As the implicit rate in each of the Company’s leases is not readily determinable, the Company is required to apply the Company’s incremental borrowing rate (“IBR”) to calculate the lease liability and ROU asset for its leasing arrangements. The Company has used the FHLB borrowing rate to calculate the IBR. The Company will also consider lease renewal options reasonably certain of exercise for purposes of determining the term of the underlying borrowing. The Company has considered various other factors, including, economic environment and determined that these factors do not currently impact the Company’s IBR calculation. The Company will continue to assess the appropriateness of the conclusions reached herein with respect to each of the factors discussed above and will determine the appropriate IBR for each new lease arrangement or modification, as required. See Note 11 “Leases” for further information. On April 1, 2019, the Company adopted 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 adoption of the standard did not have a material impact on the Company's consolidated statements of financial condition and results of operations. On April 1, 2019, the Company adopted ASU No. 2018-02 "Income Statement - Reporting Comprehensive Income (Topic 220)," which allows a reclassification for stranded tax effects from accumulated other comprehensive income to retained earnings, to eliminate the stranded tax effects resulting from the Tax Cuts and Jobs Act. The amendments addressed concerns regarding the guidance that requires deferred tax assets and liabilities to be adjusted for the effect of a change in tax laws or rates with the effect included in income from continuing operations in the reporting periods that include the enactment date. As the Company has provided a full valuation allowance against its net deferred tax assets, the change in tax rates resulted in a writedown of the deferred tax assets, which was offset by a reduction in the deferred tax valuation allowance. On April 1, 2018, the Company adopted 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 adoption of the standard did not have a material impact on the Company's consolidated statements of financial condition and results of operations. Accounting Standards Not Yet Adopted 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): Target Transition Relief," to provide transition relief by giving entities an option to irrevocably elect the fair value option for certain financial assets measured at amortized cost upon adoption of ASU 2016-13. In November 2019, the FASB issued ASU No. 2019-10, which extended the CECL implementation date for smaller reporting companies, as defined by the SEC. The new effective date is for fiscal years beginning after December 15, 2022 (for the Company, the fiscal year ending March 31, 2024), including interim periods within those fiscal years. 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 impact of the adoption of the new standard on its consolidated statements of financial condition and results of operations. In December 2019, the FASB issued ASU No. 2019-12 "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes," as part of the FASB's simplification initiative to reduce complexity, while maintaining or improving the usefulness of information provided to users of financial statements. The amendments in this update simplify the accounting for income taxes and improve consistent application of GAAP by removing certain exceptions and clarifying and amending existing guidance for areas of Topic 740. ASU No. 2019-12 is effective for fiscal years beginning after December 15, 2020 (for the Company, the fiscal year ending March 31, 2022), and interim periods within those fiscal years. ASU 2019-12 is not expected to have a material impact on the Company's financial statements.

Subsequent Events

Subsequent Events	9 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On January 22, 2021, Prudential Insurance Company of America, an institutional investor, notified the Company of its intention to cancel 475 of its holdings of Series D Preferred Stock and convert into 58,093 shares of Common Stock. The conversion had no impact on the Company's total capital. On February 1, 2021, the Company entered into an agreement with Wells Fargo Central Pacific Holdings, Inc., under which it sold: (i) 157,806 shares of its common stock, par value $0.01 per share, at a purchase price of $7.75 per share, and (ii) 3,177 shares of a new series of preferred stock, Series E non-cumulative non-voting participating preferred stock, par value $0.01 per share, at a purchase price of $1,000 per share, in a private placement for gross proceeds of approximately $4.4 million. Upon the completion of certain transfers of the Series E preferred stock by Wells Fargo Central Pacific Holdings, Inc., the Series E preferred stock would be convertible into common stock at a conversion price of $7.96 per share. The issuance of the shares is exempt from registration pursuant to the exemption provided under Rule 506 of Regulation D promulgated under the Securities Act of 1933, as amended. The offering was made only to accredited investors as that term is defined in Rule 501(a) of Regulation D under the Act.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2020
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, 2020 are not necessarily indicative of the results that may be expected for the year ended March 31, 2021. The consolidated balance sheet at December 31, 2020 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, 2020. 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, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles the loss available to common shareholders (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 December 31, $ in thousands except per share data 2020 2019 2020 2019 Net loss $ (1,310) $ (1,436) (2,931) (3,625) Weighted average common shares outstanding - basic 2,980,655 3,699,406 3,485,488 3,699,203 Weighted average common shares outstanding – diluted 2,980,655 3,699,406 3,485,488 3,699,203 Basic loss per common share $ (0.44) $ (0.39) $ (0.84) $ (0.98) Diluted loss per common share (0.44) (0.39) (0.84) (0.98) For the three and nine months ended December 31, 2020 and 2019, 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, 2020
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, 2020 and 2019: $ in thousands At Other At December 31, 2020 Net unrealized income (loss) on securities available-for-sale $ 932 $ (565) $ 367 $ in thousands At Other At December 31, 2019 Net unrealized income (loss) on securities available-for-sale $ (939) $ 923 $ (16)

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Dec. 31, 2020
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, 2020 and March 31, 2020: At December 31, 2020 Amortized Gross Unrealized $ in thousands Cost Gains Losses Fair Value Available-for-Sale: Mortgage-backed Securities: Government National Mortgage Association $ 1,223 $ 47 $ — $ 1,270 Federal Home Loan Mortgage Corporation 29,259 93 183 29,169 Federal National Mortgage Association 15,379 1 — 15,380 Total mortgage-backed securities 45,861 141 183 45,819 U.S. Government Agency Securities 19,816 — 138 19,678 Corporate Bonds 5,275 78 — 5,353 Muni Securities 17,769 119 11 17,877 Asset-backed Securities 11,093 387 26 11,454 Total available-for-sale $ 99,814 $ 725 $ 358 $ 100,181 Held-to-Maturity: Mortgage-backed Securities: Government National Mortgage Association $ 736 $ 69 $ — $ 805 Federal National Mortgage Association and Other 7,428 318 — 7,746 Total held-to-maturity mortgage-backed securities 8,164 387 — 8,551 Corporate Bonds 1,000 — — 1,000 Total held-to maturity $ 9,164 $ 387 $ — $ 9,551 At March 31, 2020 Amortized Gross Unrealized $ in thousands Cost Gains Losses Fair Value Available-for-Sale: Mortgage-backed Securities: Government National Mortgage Association $ 3,510 $ 77 $ — $ 3,587 Federal Home Loan Mortgage Corporation 9,244 312 18 9,538 Federal National Mortgage Association 21,495 673 — 22,168 Total mortgage-backed securities 34,249 1,062 18 35,293 U.S. Government Agency Securities 26,616 20 155 26,481 Corporate Bonds 4,032 33 10 4,055 Total available-for-sale $ 64,897 $ 1,115 $ 183 $ 65,829 Held-to-Maturity: Mortgage-backed Securities: Government National Mortgage Association $ 972 $ 76 $ — $ 1,048 Federal National Mortgage Association and Other 8,179 342 — 8,521 Total held-to-maturity mortgage-backed securities 9,151 418 — 9,569 Corporate Bonds 1,000 — 5 995 Total held-to-maturity $ 10,151 $ 418 $ 5 $ 10,564
Schedule of Realized Gain (Loss)	The following is a summary regarding proceeds, gross gains and gross losses realized from the sale of securities from the available-for-sale portfolio for the nine months ended December 31, 2020. There were no sales of available-for-sale and held-to-maturity securities for the three months ended December 31, 2020. $ in thousands December 31, 2020 Proceeds $ 30,190 Gross gains 862 Gross losses —
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, 2020 and March 31, 2020 for less than 12 months and 12 months or longer: At December 31, 2020 Less than 12 months 12 months or longer Total $ in thousands Unrealized Fair Unrealized Fair Unrealized Fair Available-for-Sale: Mortgage-backed securities $ 182 $ 25,356 $ 1 $ 426 $ 183 $ 25,782 U.S. Government Agency securities — — 138 19,678 138 19,678 Corporate bonds — — — — — — Muni securities 11 2,914 — — 11 2,914 Asset-backed securities 26 2,481 — — 26 2,481 Total available-for-sale securities $ 219 $ 30,751 $ 139 $ 20,104 $ 358 $ 50,855 At March 31, 2020 Less than 12 months 12 months or longer Total $ in thousands Unrealized Fair Unrealized Fair Unrealized Fair Available-for-Sale: Mortgage-backed securities $ — $ — $ 18 $ 619 $ 18 $ 619 U.S. Government Agency securities 155 21,494 155 21,494 Corporate bonds 10 1,999 — — 10 1,999 Total available-for-sale securities $ 10 $ 1,999 $ 173 $ 22,113 $ 183 $ 24,112 Held-to-Maturity: Corporate bonds $ 5 $ 995 $ — $ — $ 5 $ 995 Total held-to-maturity securities $ 5 $ 995 $ — $ — $ 5 $ 995
Investments Classified by Contractual Maturity Date	The following is a summary of the amortized cost and fair value of debt securities at December 31, 2020, 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: One through five years 3,761 3,756 3.04 % Five through ten years 6,043 5,992 1.34 % After ten years 44,149 44,614 1.85 % Mortgage-backed securities 45,861 45,819 1.25 % Total $ 99,814 $ 100,181 1.59 % Held-to-maturity: One through five years $ 1,000 $ 1,000 4.15 % Mortgage-backed securities 8,164 8,551 2.41 % Total $ 9,164 $ 9,551 2.60 %

Loans Receivable and ALLL (Tabl

Loans Receivable and ALLL (Tables)	9 Months Ended
	Dec. 31, 2020
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, 2020 and March 31, 2020: December 31, 2020 March 31, 2020 $ in thousands Amount Percent Amount Percent Gross loans receivable: One-to-four family $ 81,678 17.5 % $ 105,532 24.8 % Multifamily 107,089 23.0 % 89,241 21.0 % Commercial real estate 146,742 31.5 % 141,761 33.3 % Business (1) 127,579 27.4 % 85,425 20.1 % Consumer (2) 2,727 0.6 % 3,213 0.8 % Total loans receivable $ 465,815 100.0 % $ 425,172 100.0 % Unamortized premiums, deferred costs and fees, net 2,778 3,560 Allowance for loan losses (5,138) (4,946) Total loans receivable, net $ 463,455 $ 423,786 (1) Includes PPP loans and 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, 2020 and 2019, and the fiscal year ended March 31, 2020. Three months ended December 31, 2020 $ in thousands One-to-four Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance 953 960 969 1,636 189 209 4,916 Charge-offs — — — (5) (52) — (57) Recoveries 1 — — 273 1 — 275 Provision for (recovery of) Loan Losses (90) 67 (3) (66) 52 44 4 Ending Balance $ 864 $ 1,027 $ 966 $ 1,838 $ 190 $ 253 $ 5,138 Nine months ended December 31, 2020 $ in thousands One-to-four Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1,055 $ 1,011 $ 812 $ 1,567 $ 212 $ 289 $ 4,946 Charge-offs — — — (24) (52) — (76) Recoveries 88 — — 275 4 — 367 Provision for (recovery of) Loan Losses (279) 16 154 20 26 (36) (99) Ending Balance $ 864 $ 1,027 $ 966 $ 1,838 $ 190 $ 253 $ 5,138 Allowance for Loan Losses Ending Balance: collectively evaluated for impairment $ 831 $ 1,027 $ 966 $ 1,697 $ 190 $ 253 $ 4,964 Allowance for Loan Losses Ending Balance: individually evaluated for impairment 33 — — 141 — — 174 Loan Receivables Ending Balance: $ 83,047 $ 107,723 $ 147,520 $ 127,548 $ 2,755 $ — $ 468,593 Ending Balance: collectively evaluated for impairment 79,208 107,353 146,360 119,615 2,755 — 455,291 Ending Balance: individually evaluated for impairment 3,839 370 1,160 7,933 — — 13,302 At March 31, 2020 $ in thousands One-to-four family Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for Loan Losses Ending Balance: collectively evaluated for impairment $ 899 $ 1,011 $ 812 $ 1,557 $ 212 $ 289 $ 4,780 Allowance for Loan Losses Ending Balance: individually evaluated for impairment 156 — — 10 — — 166 Loan Receivables Ending Balance: $ 107,528 $ 89,887 $ 142,410 $ 85,659 $ 3,248 $ — $ 428,732 Ending Balance: collectively evaluated for impairment 102,902 89,512 142,410 82,210 3,248 — 420,282 Ending Balance: individually evaluated for impairment 4,626 375 — 3,449 — — 8,450 Three months ended December 31, 2019 $ in thousands One-to-four family 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 family 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
Schedule Nonaccrual Loans	The following is a summary of nonaccrual loans at December 31, 2020 and March 31, 2020. $ in thousands December 31, 2020 March 31, 2020 Gross loans receivable: One-to-four family $ 3,532 $ 3,582 Multifamily 372 375 Commercial real estate 1,160 — Business 2,413 2,797 Consumer — 22 Total nonaccrual loans $ 7,477 $ 6,776
Loans Receivable, Credit Quality Indicators	At December 31, 2020, 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 $ 102,531 $ 143,872 $ 115,591 Special Mention — 2,296 3,102 Substandard 5,192 1,352 8,855 Total $ 107,723 $ 147,520 $ 127,548 One-to-four family Consumer Credit Risk Profile Based on Payment Activity: Performing $ 79,711 $ 2,755 Non-Performing 3,336 — Total $ 83,047 $ 2,755 At March 31, 2020, 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 $ 89,512 $ 141,793 $ 80,016 Special Mention — 617 2,184 Substandard 375 — 3,459 Total $ 89,887 $ 142,410 $ 85,659 One-to-four family Consumer Credit Risk Profile Based on Payment Activity: Performing $ 103,946 $ 3,225 Non-Performing 3,582 23 Total $ 107,528 $ 3,248
Past Due Financing Receivables	The following table presents an aging analysis of the recorded investment of past due loans receivables at December 31, 2020 and March 31, 2020. December 31, 2020 $ in thousands 30-59 Days 60-89 Days 90 or More Days Past Due Total Past Current Total Loans One-to-four family $ 882 $ 247 $ 2,953 $ 4,082 $ 78,965 $ 83,047 Multifamily 8,333 1,076 — 9,409 98,314 107,723 Commercial real estate 2,671 1,419 2,091 6,181 141,339 147,520 Business 620 421 1,256 2,297 125,251 127,548 Consumer 25 82 — 107 2,648 2,755 Total $ 12,531 $ 3,245 $ 6,300 $ 22,076 $ 446,517 $ 468,593 March 31, 2020 $ in thousands 30-59 Days 60-89 Days 90 or More Days Past Due Total Past Current Total Loans Receivables One-to-four family $ 1,410 $ — $ 3,202 $ 4,612 $ 102,916 $ 107,528 Multifamily 490 — — 490 89,397 89,887 Commercial real estate 6,621 — — 6,621 135,789 142,410 Business 1,360 3 700 2,063 83,596 85,659 Consumer 103 1 23 127 3,121 3,248 Total $ 9,984 $ 4 $ 3,925 $ 13,913 $ 414,819 $ 428,732
Impaired Loans	The following table presents information on impaired loans with the associated allowance amount, if applicable, at December 31, 2020 and March 31, 2020. At December 31, 2020 At March 31, 2020 $ in thousands Recorded Unpaid Associated Recorded Unpaid Associated With no specific allowance recorded: One-to-four family $ 3,762 $ 4,420 $ — $ 3,819 $ 4,566 $ — Multifamily 370 372 — 375 376 — Commercial real estate 1,160 1,160 — — — — Business 2,471 2,630 — 2,797 2,917 — With an allowance recorded: One-to-four family 77 73 33 807 803 156 Business 5,462 5,462 141 652 652 10 Total $ 13,302 $ 14,117 $ 174 $ 8,450 $ 9,314 $ 166 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, 2020 and 2019. For the Three Months Ended December 31, For the Nine Months Ended December 31, 2020 2019 2020 2019 $ 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 $ 3,790 $ 10 $ 4,143 $ 14 $ 3,767 $ 50 $ 4,390 $ 43 Multifamily 373 4 1,406 14 371 13 1,796 45 Commercial real estate 580 — — — 1,160 — 238 — Business 2,634 26 2,096 16 2,445 86 2,374 41 With an allowance recorded: One-to-four family 442 — 813 — 77 — 870 — Business 3,057 — 780 — 3,007 — 979 — Total $ 10,876 $ 40 $ 9,238 $ 44 $ 10,827 $ 149 $ 10,647 $ 129
Troubled Debt Restructuring	There was one loan modification made during the three and nine month periods ended December 31, 2020. There were no loan modifications made during the three and nine month periods ended December 31, 2019. Loan Modifications during the three month period ended Loan Modifications during the nine month period ended December 31, 2020 December 31, 2020 $ in thousands Number of loans Pre-Modification Recorded investment Post-Modification Recorded investment Pre-Modification rate Post-Modification rate Number of loans Pre-Modification Recorded investment Post-Modification Recorded investment Pre-Modification rate Post-Modification rate Business 1 4,949 4,949 6.68 5.50 1 4,949 4,949 6.68 % 5.50 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Dec. 31, 2020
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, 2020 and March 31, 2020, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates: Fair Value Measurements at December 31, 2020, Using $ in thousands Quoted Prices in Active Markets for Identical Assets Significant Other Significant Total Fair Mortgage servicing rights $ — $ — $ 142 $ 142 Investment securities Available-for-sale: Mortgage-backed securities: Government National Mortgage Association — 1,270 — 1,270 Federal Home Loan Mortgage Corporation — 29,169 — 29,169 Federal National Mortgage Association — 15,380 — 15,380 U.S. Government Agency securities — 19,678 — 19,678 Corporate bonds — 5,353 — 5,353 Muni securities — 17,877 — 17,877 Asset-backed securities — 11,454 — 11,454 Total available-for-sale securities — 100,181 — 100,181 Total $ — $ 100,181 $ 142 $ 100,323 Fair Value Measurements at March 31, 2020, Using $ in thousands Quoted Prices in Significant Other Significant Total Fair Mortgage servicing rights $ — $ — $ 145 $ 145 Investment securities Available-for-sale: Mortgage-backed securities: Government National Mortgage Association — 3,587 — 3,587 Federal Home Loan Mortgage Corporation — 9,538 — 9,538 Federal National Mortgage Association — 22,168 — 22,168 U.S. Government Agency securities — 26,481 — 26,481 Corporate bonds — 4,055 — 4,055 Total available-for-sale securities — 65,829 — 65,829 Total assets $ — $ 65,829 $ 145 $ 65,974
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, 2020 and 2019: $ in thousands Beginning balance, Total Realized/Unrealized Gains/(Losses) Recorded in Income (1) Issuances / (Settlements) Transfers to/(from) Level 3 Ending balance, December 31, 2020 Change in Unrealized Gains/(Losses) Related to Instruments Held at December 31, 2020 Mortgage servicing rights 145 (3) — — 142 2 $ in thousands Beginning balance, Total Realized/Unrealized Gains/(Losses) Recorded in Income (1) Issuances / (Settlements) Transfers to/(from) Level 3 Ending balance, December 31, 2019 Change in Unrealized Gains/(Losses) Related to Instruments Held at December 31, 2019 Mortgage servicing rights 180 (8) — — 172 (7)
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, 2020 and March 31, 2020, the significant unobservable inputs used in the fair value measurements were as follows: $ in thousands Fair Value December 31, 2020 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Mortgage servicing rights 142 Discounted Cash Flow Weighted Average Constant Prepayment Rate (1) 15.33 % 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 145 Discounted Cash Flow Weighted Average Constant Prepayment Rate (1) 15.64 % Option Adjusted Spread ("OAS" applied to Treasury curve 1200 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, 2020 and March 31, 2020, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates: Fair Value Measurements at December 31, 2020 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 $ — $ — $ 5,365 $ 5,365 Other real estate owned — — 60 $ 60 Fair Value Measurements at March 31, 2020, 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 $ — $ — $ 1,293 $ 1,293 Other real estate owned — — 120 $ 120
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, 2020 and March 31, 2020, the significant unobservable inputs used in the fair value measurements were as follows: $ in thousands Fair Value December 31, 2020 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Impaired loans $ 5,365 Appraisal of collateral Appraisal adjustments 7.5% cost to sell Other real estate owned 60 Appraisal of collateral Appraisal adjustments 7.5% cost to sell $ in thousands Fair Value March 31, 2020 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Impaired loans $ 1,293 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

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Dec. 31, 2020
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, 2020 and March 31, 2020 are as follows: December 31, 2020 $ in thousands Carrying Estimated Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets: Cash and cash equivalents $ 79,551 $ 79,551 $ 79,551 $ — $ — Securities available-for-sale 100,181 100,181 — 100,181 — Securities held-to-maturity 9,164 9,551 — 9,551 — Loans receivable 463,455 478,144 — — 478,144 Accrued interest receivable 2,910 2,910 — 2,910 — Mortgage servicing rights 142 142 — — 142 Financial Liabilities: Deposits $ 569,742 $ 569,159 $ 380,212 $ 188,947 $ — Other borrowed money 41,633 41,705 — 41,705 — Accrued interest payable 3,050 3,050 — 3,050 — March 31, 2020 $ 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 $ 47,540 $ 47,540 $ 47,540 $ — $ — Securities available-for-sale 65,829 65,829 — 65,829 — Securities held-to-maturity 10,151 10,564 — 10,564 — Loans receivable 423,786 438,017 — — 438,017 Accrued interest receivable 2,052 2,052 — 2,052 — Mortgage servicing rights 145 145 — — 145 Other assets - Interest-bearing deposits 981 981 — 981 — Financial Liabilities: Deposits $ 488,815 $ 489,309 $ 291,951 $ 197,358 $ — Other borrowed money 13,403 13,386 — 13,386 — Accrued interest payable 2,695 2,695 — 2,695 —

Non-interest Revenue and Expe_2

Non-interest Revenue and Expense (Tables)	9 Months Ended
	Dec. 31, 2020
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, 2020 and 2019: Three Months Ended December 31, Nine Months Ended December 31, $ in thousands 2020 2019 2020 2019 Non-interest income In-scope of Topic 606 Depository fees and charges $ 692 $ 846 $ 2,041 $ 2,461 Loan fees and service charges 27 70 167 216 Other non-interest income 18 14 722 41 Non-interest income (in-scope of Topic 606) 737 930 2,930 2,718 Non-interest income (out-of-scope of Topic 606) 162 35 1,625 197 Total non-interest income $ 899 $ 965 $ 4,555 $ 2,915
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 2020 2019 2020 2019 Other non-interest income: Compliance fee $ 78 $ (9) $ 78 $ 47 Grant income — — 500 — Correspondent banking fees 7 — 687 — Other 57 46 153 139 Total non-interest income $ 142 $ 37 $ 1,418 $ 186 Other non-interest expense: Advertising $ 119 $ 32 $ 189 $ 234 Legal expense 93 316 355 489 Insurance and surety 232 158 565 463 Audit expense 138 136 413 398 Outsourced service 21 33 67 277 Data lines / internet 109 105 318 315 Retail expenses 216 175 607 551 Director's fees 85 77 255 232 Other 446 581 1,488 1,416 Total non-interest expense $ 1,459 $ 1,613 $ 4,257 $ 4,375

Leases (Tables)

Leases (Tables)	9 Months Ended
	Dec. 31, 2020
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, 2020: December 31, 2020 Weighted-average remaining lease term Operating leases 7.3 years Finance lease 2.5 years Weighted-average discount rate Operating leases 3.01 % Finance lease 1.78 % Three Months Ended December 31, Nine Months Ended December 31, $ in thousands 2020 2019 2020 2019 Operating lease expense $ 714 $ 743 $ 2,141 $ 2,207 Finance lease cost Amortization of right-of use asset 17 16 56 20 Interest on lease liability 1 1 2 1 Cash paid for amounts included in the measurement of lease liabilities Operating leases 682 706 2,047 2,083 Finance lease 23 14 54 30
Lessee, Lease Liability, Maturity	Maturities of lease liabilities at December 31, 2020 are as follows: $ in thousands Operating Leases Finance Leases Year ending March 31, 2021 $ 685 $ 18 2022 2,619 72 2023 2,479 30 2024 2,535 11 2025 2,318 3 Thereafter 7,913 — Total lease payments 18,549 134 Interest (1,984) (3) Lease liability $ 16,565 $ 131

Organization Text Tags (Details

Organization Text Tags (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2003	Mar. 31, 2020	Sep. 17, 2003	Oct. 24, 1994
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common Stock, Shares Issued (in shares)	5,508,560		3,701,449		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	3.28%
Interest Payable	$ 3

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Text Tags (Details) $ in Thousands	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)
Accounting Policies [Abstract]
Financing Receivable, Number of Principal and Interest Payment Deferrals	12	85
Financing Receivable, Principal and Interest Deferred Payments	$ 4,800	$ 92,800
Number of Loans Originated Under the Paycheck Protection Program	203
Loans Originated Under the Paycheck Protection Program, Amount	$ 34,700
Advances under Paycheck Protection Program Liquidity Facility	$ 28,200

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net loss	$ (1,310)	$ (1,436)	$ (2,931)	$ (3,625)
Weighted average common shares outstanding - basic (in shares)	2,980,655	3,699,406	3,485,488	3,699,203
Weighted average common shares outstanding - diluted (in shares)	2,980,655	3,699,406	3,485,488	3,699,203
Loss per Share, Basic (in dollars per share)	$ (0.44)	$ (0.39)	$ (0.84)	$ (0.98)
Loss per Share, Diluted (in dollars per share)	$ (0.44)	$ (0.39)	$ (0.84)	$ (0.98)

Common Stock Dividends and Is_2

Common Stock Dividends and Issuances Text Tags (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2011	Mar. 31, 2020	Oct. 28, 2011
Dividends [Abstract]
Stock Issued During Period, Shares, Other			2,321,286
Series D Convertible Preferred Stock, Shares Outstanding (in shares)	18,076	18,076		45,118	45,118
Conversion of Stock, Shares Converted		13,519	1,208,039
Conversion of Stock, Shares Issued		1,653,397
Treasury Stock, Shares, Acquired		2,321,286
Payments for Repurchase of Equity		$ 2,500
Stock Issued During Period, Shares, New Issues	147,227
Sale of Stock, Price Per Share	$ 6.62	$ 6.62
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	147,227
Common Stock
Class of Stock [Line Items]
Stock Repurchased and Retired During Period, Shares		180,573
Preferred Stock
Class of Stock [Line Items]
Stock Repurchased and Retired During Period, Shares		13,523

Components of Accumulated Other

Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	$ 0	$ 0	$ 862	$ 0
Accumulated Other Comprehensive Loss, Available-for-sale Securities Adjustment, Net of Tax			932	(939)
Other comprehensive loss, net of taxes	346	(98)	(565)	923
Accumulated Other Comprehensive Loss, Available-for-sale Securities Adjustment, Net of Tax	$ 367	$ (16)	$ 367	$ (16)

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) (Details) Text Tags - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	$ 0	$ 0	$ 862	$ 0

Investment Securities Text Tags

Investment Securities Text Tags (Details)	3 Months Ended	9 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2020USD ($)
Schedule of Investments [Line Items]
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	9	9		7
Debt Securities, Available-for-sale	$ 100,181,000	$ 100,181,000		$ 65,829,000
Percentage Available-for-sale Securities	91.60%	91.60%
Debt Securities, Held-to-maturity	$ 9,164,000	$ 9,164,000		10,151,000
Percentage Held-to-maturity Securities	8.40%	8.40%
Trading	$ 0	$ 0
Proceeds from Sale of Available-for-sale Securities	$ 0	$ 30,190,000	$ 0
Mortgage-backed securities
Schedule of Investments [Line Items]
Number of AFS securities in Unrealized Loss Positions, greater than or equal to 12 months	1	1
Debt Securities, Held-to-maturity	$ 8,164,000	$ 8,164,000		$ 9,151,000
US Government Agency Securities
Schedule of Investments [Line Items]
Percentage Available-for-Sale, Continuos Unrealized Loss Position	38.70%	38.70%
Number of AFS securities in Unrealized Loss Positions, greater than or equal to 12 months	3	3

Investment Securities-Unrealize

Investment Securities-Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Total	$ 9,164	$ 10,151
Held-to-maturity, Gross Unrealized Gains	387	418
Held-to-maturity, Gross Unrealized Losses	0	5
Held-to-maturity, Fair Value	9,551	10,564
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	99,814	64,897
Available-for-sale, Gross Unrealized Gains	725	1,115
Available-for-sale, Gross Unrealized Losses	358	183
Available-for-sale, Fair Value	100,181	65,829
Government National Mortgage Association (GNMA)
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Total	736	972
Held-to-maturity, Gross Unrealized Gains	69	76
Held-to-maturity, Gross Unrealized Losses	0	0
Held-to-maturity, Fair Value	805	1,048
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	1,223	3,510
Available-for-sale, Gross Unrealized Gains	47	77
Available-for-sale, Gross Unrealized Losses	0	0
Available-for-sale, Fair Value	1,270	3,587
Federal Home Loan Mortgage Corporation (FHLMC)
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	29,259	9,244
Available-for-sale, Gross Unrealized Gains	93	312
Available-for-sale, Gross Unrealized Losses	183	18
Available-for-sale, Fair Value	29,169	9,538
Federal National Mortgage Association (FNMA)
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Total	7,428	8,179
Held-to-maturity, Gross Unrealized Gains	318	342
Held-to-maturity, Gross Unrealized Losses	0	0
Held-to-maturity, Fair Value	7,746	8,521
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	15,379	21,495
Available-for-sale, Gross Unrealized Gains	1	673
Available-for-sale, Gross Unrealized Losses	0	0
Available-for-sale, Fair Value	15,380	22,168
Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Total	8,164	9,151
Held-to-maturity, Gross Unrealized Gains	387	418
Held-to-maturity, Gross Unrealized Losses	0	0
Held-to-maturity, Fair Value	8,551	9,569
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	45,861	34,249
Available-for-sale, Gross Unrealized Gains	141	1,062
Available-for-sale, Gross Unrealized Losses	183	18
Available-for-sale, Fair Value	45,819	35,293
US Government Agency Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	19,816	26,616
Available-for-sale, Gross Unrealized Gains	0	20
Available-for-sale, Gross Unrealized Losses	138	155
Available-for-sale, Fair Value	19,678	26,481
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	0	0
Held-to-maturity, Gross Unrealized Losses	0	5
Held-to-maturity, Fair Value	1,000	995
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	5,275	4,032
Available-for-sale, Gross Unrealized Gains	78	33
Available-for-sale, Gross Unrealized Losses	0	10
Available-for-sale, Fair Value	5,353	$ 4,055
Municipal Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	17,769
Available-for-sale, Gross Unrealized Gains	119
Available-for-sale, Gross Unrealized Losses	11
Available-for-sale, Fair Value	17,877
Asset-backed Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	11,093
Available-for-sale, Gross Unrealized Gains	387
Available-for-sale, Gross Unrealized Losses	26
Available-for-sale, Fair Value	$ 11,454

Schedule of Realized Gain (Loss

Schedule of Realized Gain (Loss) (Details) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Proceeds from Sale of Available-for-sale Securities	$ 0	$ 30,190,000	$ 0
Available-for-sale Securities, Gross Realized Gains		862,000
Available-for-sale Securities, Gross Realized Losses		$ 0

Investment Securities Investmen

Investment Securities Investment Securities-Schedule of Unrealized Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 219	$ 10
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	30,751	1,999
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	139	173
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	20,104	22,113
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	358	183
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	50,855	24,112
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss		5
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value		995
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss		0
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value		0
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss		5
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value		995
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	182	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	25,356	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	1	18
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	426	619
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	183	18
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	25,782	619
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	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	138	155
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	19,678	21,494
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	138	155
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	19,678	21,494
Municipal Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	11
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	2,914
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	11
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	2,914
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	10
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	0	1,999
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	0	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	0	10
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	0	1,999
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss		5
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value		995
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss		0
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value		0
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss		5
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value		$ 995
Asset-backed Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	26
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	2,481
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	26
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	$ 2,481

Investment Securities-Investmen

Investment Securities-Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost	$ 3,761
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost	6,043
Debt Securities, Available-for-sale, Allocated and Single Maturity Date, Maturity, after 10 Years, Amortized Cost	44,149
Available-for-sale Securities, Amortized Cost Basis	99,814	$ 64,897
Debt Securities, Available-for-sale, Amortized Cost	99,814
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value	3,756
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value	5,992
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value	44,614
Available-for-sale Securities	100,181	65,829
Available-for-sale	$ 100,181	65,829
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Weighted Average Rate	3.04%
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Weighted Average Rate	1.34%
Available-for-sale Securities, Debt Maturities, after Ten Years, Weighted Average Rate	1.85%
Available-for-sale Securities, Debt Maturities, Weighted Average Rate	1.59%
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount
Debt Securities, Held-to-Maturity, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five	$ 1,000
Held-to-maturity	9,164	10,151
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five	1,000
Held-to-maturity, Fair Value	$ 9,551	$ 10,564
Debt Securities, Held-to-Maturity, Weighted Average Yield, Maturity, after Year One Through Five	4.15%
Held-to-maturity Securities, Debt Maturities, Weighted Average Rate	2.60%

Loans Receivable and ALLL (Deta

Loans Receivable and ALLL (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Mar. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross		$ 465,815		$ 425,172
Unamortized premiums, deferred costs and fees, net		2,778		3,560
Allowance for loan losses		(5,138)	$ (4,916)	(4,946)	$ (4,607)	$ (4,625)	$ (4,646)
Total loans receivable, net		$ 463,455		$ 423,786
Percentage of Loan Type		100.00%		100.00%
Other Real Estate Owned		$ 60		$ 120
Financing Receivable, Troubled Debt Restructuring		7,600		3,900
One-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross		81,678		105,532
Allowance for loan losses		$ (864)	(953)	$ (1,055)	(1,181)	(1,289)	(1,274)
Percentage of Loan Type		17.50%		24.80%
Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross		$ 107,089		$ 89,241
Allowance for loan losses		$ (1,027)	(960)	$ (1,011)	(920)	(884)	(885)
Percentage of Loan Type		23.00%		21.00%
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross		$ 146,742		$ 141,761
Allowance for loan losses		$ (966)	(969)	$ (812)	(691)	(695)	(766)
Percentage of Loan Type		31.50%		33.30%
Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross	[1]	$ 127,579		$ 85,425
Allowance for loan losses		$ (1,838)	(1,636)	$ (1,567)	(1,484)	(1,491)	(1,330)
Percentage of Loan Type	[1]	27.40%		20.10%
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross	[2]	$ 2,727		$ 3,213
Allowance for loan losses		$ (190)	$ (189)	$ (212)	$ (231)	$ (248)	$ (154)
Percentage of Loan Type	[2]	0.60%		0.80%
[1]	(1) Includes PPP loans and 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, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	$ 4,916	$ 4,625	$ 4,946	$ 4,646
Charge-offs	(57)	(33)	(76)	(162)
Recoveries	275	7	367	107
Provision for loan losses	4	8	(99)	16
Allowance for loan losses - Ending Balance	5,138	4,607	5,138	4,607
Allowance for Loan Losses, Collectively Evaluated for Impairment	4,964		4,964		$ 4,780
Allowance for Loan Losses, Individually Evaluated for Impairment	174		174		166
Loans, gross	468,593		468,593		428,732
Loans Receivable, Collectively Evaluated for Impairment	455,291		455,291		420,282
Loans Receivable, Individually Evaluated for Impairment	13,302		13,302		8,450
One-to-four family
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	953	1,289	1,055	1,274
Charge-offs	0	(12)	0	(12)
Recoveries	1	0	88	8
Provision for loan losses	(90)	(96)	(279)	(89)
Allowance for loan losses - Ending Balance	864	1,181	864	1,181
Allowance for Loan Losses, Collectively Evaluated for Impairment	831		831		899
Allowance for Loan Losses, Individually Evaluated for Impairment	33		33		156
Loans, gross	83,047		83,047		107,528
Loans Receivable, Collectively Evaluated for Impairment	79,208		79,208		102,902
Loans Receivable, Individually Evaluated for Impairment	3,839		3,839		4,626
Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	960	884	1,011	885
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for loan losses	67	36	16	35
Allowance for loan losses - Ending Balance	1,027	920	1,027	920
Allowance for Loan Losses, Collectively Evaluated for Impairment	1,027		1,027		1,011
Allowance for Loan Losses, Individually Evaluated for Impairment	0		0		0
Loans, gross	107,723		107,723		89,887
Loans Receivable, Collectively Evaluated for Impairment	107,353		107,353		89,512
Loans Receivable, Individually Evaluated for Impairment	370		370		375
Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	969	695	812	766
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for loan losses	(3)	(4)	154	(75)
Allowance for loan losses - Ending Balance	966	691	966	691
Allowance for Loan Losses, Collectively Evaluated for Impairment	966		966		812
Allowance for Loan Losses, Individually Evaluated for Impairment	0		0		0
Loans, gross	147,520		147,520		142,410
Loans Receivable, Collectively Evaluated for Impairment	146,360		146,360		142,410
Loans Receivable, Individually Evaluated for Impairment	1,160		1,160		0
Business
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	1,636	1,491	1,567	1,330
Charge-offs	(5)	(13)	(24)	(69)
Recoveries	273	7	275	97
Provision for loan losses	(66)	(1)	20	126
Allowance for loan losses - Ending Balance	1,838	1,484	1,838	1,484
Allowance for Loan Losses, Collectively Evaluated for Impairment	1,697		1,697		1,557
Allowance for Loan Losses, Individually Evaluated for Impairment	141		141		10
Loans, gross	127,548		127,548		85,659
Loans Receivable, Collectively Evaluated for Impairment	119,615		119,615		82,210
Loans Receivable, Individually Evaluated for Impairment	7,933		7,933		3,449
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	189	248	212	154
Charge-offs	(52)	(8)	(52)	(81)
Recoveries	1	0	4	2
Provision for loan losses	52	(9)	26	156
Allowance for loan losses - Ending Balance	190	231	190	231
Allowance for Loan Losses, Collectively Evaluated for Impairment	190		190		212
Allowance for Loan Losses, Individually Evaluated for Impairment	0		0		0
Loans, gross	2,755		2,755		3,248
Loans Receivable, Collectively Evaluated for Impairment	2,755		2,755		3,248
Loans Receivable, Individually Evaluated for Impairment	0		0		0
Unallocated
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	209	18	289	237
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for loan losses	44	82	(36)	(137)
Allowance for loan losses - Ending Balance	253	$ 100	253	$ 100
Allowance for Loan Losses, Collectively Evaluated for Impairment	253		253		289
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, 2020	Mar. 31, 2020
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	$ 7,477	$ 6,776
One-to-four family
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	3,532	3,582
Multifamily
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	372	375
Commercial real estate
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	1,160	0
Business
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	2,413	2,797
Consumer
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	$ 0	$ 22

Credit Quality Indicators (Deta

Credit Quality Indicators (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	$ 468,593	$ 428,732
Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	107,723	89,887
Multifamily | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	102,531	89,512
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	5,192	375
Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	147,520	142,410
Commercial real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	143,872	141,793
Commercial real estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	2,296	617
Commercial real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	1,352	0
Business
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	127,548	85,659
Business | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	115,591	80,016
Business | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	3,102	2,184
Business | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	8,855	3,459
One-to-four family
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	83,047	107,528
One-to-four family | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	79,711	103,946
One-to-four family | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	3,336	3,582
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	2,755	3,248
Consumer | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	2,755	3,225
Consumer | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	$ 0	$ 23

Past Due Financing Receivables

Past Due Financing Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	$ 22,076	$ 13,913
Financing Receivable, Not Past Due	446,517	414,819
Loans, gross	468,593	428,732
Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	12,531	9,984
Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	3,245	4
Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	6,300	3,925
One-to-four family
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	4,082	4,612
Financing Receivable, Not Past Due	78,965	102,916
Loans, gross	83,047	107,528
One-to-four family | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	882	1,410
One-to-four family | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	247	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	2,953	3,202
Multifamily
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	9,409	490
Financing Receivable, Not Past Due	98,314	89,397
Loans, gross	107,723	89,887
Multifamily | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	8,333	490
Multifamily | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	1,076	0
Multifamily | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	0	0
Commercial real estate
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	6,181	6,621
Financing Receivable, Not Past Due	141,339	135,789
Loans, gross	147,520	142,410
Commercial real estate | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	2,671	6,621
Commercial real estate | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	1,419	0
Commercial real estate | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	2,091	0
Business
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	2,297	2,063
Financing Receivable, Not Past Due	125,251	83,596
Loans, gross	127,548	85,659
Business | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	620	1,360
Business | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	421	3
Business | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	1,256	700
Consumer
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	107	127
Financing Receivable, Not Past Due	2,648	3,121
Loans, gross	2,755	3,248
Consumer | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	25	103
Consumer | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	82	1
Consumer | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	$ 0	$ 23

Impaired Loans (Details)

Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
Impaired Financing Receivable, Recorded Investment [Abstract]
Impaired Financing Receivable, Recorded Investment	$ 13,302		$ 13,302		$ 8,450
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	14,117		14,117		9,314
Impaired Financing Receivable, Related Allowance	174		174		166
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, Average Recorded Investment	10,876	$ 9,238	10,827	$ 10,647
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, Interest Income, Cash Basis Method	40	44	149	129
One-to-four family
Impaired Financing Receivable, Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	3,762		3,762		3,819
Impaired Financing Receivable, with Related Allowance, Recorded Investment	77		77		807
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	4,420		4,420		4,566
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	73		73		803
Impaired Financing Receivable, Related Allowance	33		33		156
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment	3,790	4,143	3,767	4,390
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	442	813	77	870
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method	10	14	50	43
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	370		370		375
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	372		372		376
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment	373	1,406	371	1,796
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method	4	14	13	45
Commercial real estate
Impaired Financing Receivable, Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	1,160		1,160		0
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	1,160		1,160		0
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment	580	0	1,160	238
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method	0	0	0	0
Business
Impaired Financing Receivable, Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	2,471		2,471		2,797
Impaired Financing Receivable, with Related Allowance, Recorded Investment	5,462		5,462		652
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	2,630		2,630		2,917
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	5,462		5,462		652
Impaired Financing Receivable, Related Allowance	141		141		$ 10
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment	2,634	2,096	2,445	2,374
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	3,057	780	3,007	979
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method	26	16	86	41
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method	$ 0	$ 0	$ 0	$ 0

Loans Receivable and ALLL Text

Loans Receivable and ALLL Text Tags (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019	Dec. 31, 2020USD ($)	Dec. 31, 2019	Mar. 31, 2020USD ($)	Sep. 30, 2020USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Troubled Debt Restructuring	$ 7,600		$ 7,600		$ 3,900
Financing Receivable, Modifications, Number of Contracts	1	0	1	0
Financing Receivable, Past Due	$ 22,076		$ 22,076		13,913
Financing Receivable, Principal and Interest Deferred Payments	$ 4,800		$ 4,800			$ 92,800
Financing Receivable, Number of Principal and Interest Payment Deferrals	12		12			85
Other Real Estate Owned	$ 60		$ 60		$ 120
Number of Real Estate Properties	1		1		2
Number of Modified Loan Subsequently Defaulted			0	0
Loans and Leases Receivable, Related Parties	$ 60		$ 60		$ 70
Loans and Leases Receivable, Related Parties, Proceeds			$ 10
Number of Loans Originated Under the Paycheck Protection Program	203		203
Loans Originated Under the Paycheck Protection Program, Amount	$ 34,700		$ 34,700
Financing Receivable, Principal and Interest Deferred Payments	$ 4,800		$ 4,800			$ 92,800
Financing Receivable, Number of Principal and Interest Payment Deferrals	12		12			85
Financing Receivable, Held-for-Sale	$ 0		$ 0		0
Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Troubled Debt Restructuring	1,800		1,800		2,200
Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Troubled Debt Restructuring	$ 5,800		$ 5,800		$ 1,700
Financing Receivable, Modifications, Number of Contracts			5		6
Business
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Modifications, Number of Contracts	1		1
Financing Receivable, Past Due	$ 2,297		$ 2,297		$ 2,063
Commercial Loan
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Principal and Interest Deferred Payments						$ 85,300
Financing Receivable, Number of Principal and Interest Payment Deferrals						61
Financing Receivable, Principal and Interest Deferred Payments						$ 85,300
Financing Receivable, Number of Principal and Interest Payment Deferrals						61
One-to-four family
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Past Due	$ 4,082		$ 4,082		$ 4,612
Financing Receivable, Principal and Interest Deferred Payments						$ 7,500
Financing Receivable, Number of Principal and Interest Payment Deferrals						24
Financing Receivable, Principal and Interest Deferred Payments						$ 7,500
Financing Receivable, Number of Principal and Interest Payment Deferrals						24

TDRs (Details)

TDRs (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019	Dec. 31, 2020USD ($)	Dec. 31, 2019
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts	1	0	1	0
Business
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts	1		1
Financing Receivable, Troubled Debt Restructuring, Premodification	$ 4,949		$ 4,949
Financing Receivable, Troubled Debt Restructuring, Postmodification	$ 4,949		$ 4,949

Fair Value, Assets Measured on

Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	$ 142	$ 145
Securities Available-for-Sale	100,181	65,829
Assets, Fair Value Disclosure	100,323	65,974
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	1,270	3,587
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	29,169	9,538
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	15,380	22,168
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	19,678	26,481
Fair Value, Measurements, Recurring | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	5,353	4,055
Fair Value, Measurements, Recurring | Municipal Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	17,877
Fair Value, Measurements, Recurring | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	11,454
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 1 | Fair Value, Measurements, Recurring | Municipal Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	0
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	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	100,181	65,829
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	100,181	65,829
Assets, Fair Value Disclosure	100,181	65,829
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	1,270	3,587
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	29,169	9,538
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	15,380	22,168
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	19,678	26,481
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	5,353	4,055
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Municipal Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	17,877
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	11,454
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	142	145
Securities Available-for-Sale	0	0
Other investments	925
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	142	145
Securities Available-for-Sale	0	0
Assets, Fair Value Disclosure	142	145
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, Inputs, Level 3 | Fair Value, Measurements, Recurring | Municipal Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	0
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	$ 0

Fair Value Measurements Text Ta

Fair Value Measurements Text Tag (Details)	9 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Percent of Total Assets Level 3	0.02%	0.03%
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, 2020	Dec. 31, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ 2,000	$ (7,000)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value - Beginning	145,000	180,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(3,000)	(8,000)
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	$ 142,000	$ 172,000

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, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)
Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights		$ 142	$ 145
Fair Value, Measurements, Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights		142	145
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights		142	145
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		$ 142	$ 145	$ 172	$ 180
Fair Value Measurements, Valuation Processes, Description		Discounted Cash Flow	Discounted Cash Flow
Servicing Asset, Measurement Input		0.1533	0.1564
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, 2020	Mar. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Real Estate Owned	$ 60	$ 120
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	5,365	1,293
Other Real Estate Owned	60	120
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	5,365	1,293
Other Real Estate Owned	$ 60	$ 120

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, 2020	Mar. 31, 2020
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other Real Estate Owned	$ 60	$ 120
Fair Value, Measurements, Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	5,365	1,293
Other Real Estate Owned	60	120
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	5,365	1,293
Other Real Estate Owned	$ 60	$ 120
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, 2020	Mar. 31, 2020
Financial Assets:
Held-to-maturity, Fair Value	$ 9,551	$ 10,564
Fair Value, Inputs, Level 1
Financial Assets:
Cash and cash equivalents	79,551	47,540
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
Financial Liabilities:
Deposits	380,212	291,951
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	100,181	65,829
Held-to-maturity, Fair Value	9,551	10,564
Loans Receivable	0	0
Accrued interest receivable	2,910	2,052
Mortgage servicing rights	0	0
Other assets - Interest-bearing deposits		981
Financial Liabilities:
Deposits	188,947	197,358
Other borrowed money	41,705	13,386
Accrued interest payable	3,050	2,695
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	478,144	438,017
Accrued interest receivable	0	0
Mortgage servicing rights	142	145
Other assets - Interest-bearing deposits		0
Financial Liabilities:
Deposits	0	0
Other borrowed money	0	0
Accrued interest payable	0	0
Reported Value Measurement
Financial Assets:
Cash and cash equivalents	79,551	47,540
Securities Available-for-Sale	100,181	65,829
Held-to-maturity, Fair Value	9,164	10,151
Loans Receivable	463,455	423,786
Accrued interest receivable	2,910	2,052
Mortgage servicing rights	142	145
Other assets - Interest-bearing deposits		981
Financial Liabilities:
Deposits	569,742	488,815
Other borrowed money	41,633	13,403
Accrued interest payable	3,050	2,695
Estimate of Fair Value Measurement
Financial Assets:
Cash and cash equivalents	79,551	47,540
Securities Available-for-Sale	100,181	65,829
Held-to-maturity, Fair Value	9,551	10,564
Loans Receivable	478,144	438,017
Accrued interest receivable	2,910	2,052
Mortgage servicing rights	142	145
Other assets - Interest-bearing deposits		981
Financial Liabilities:
Deposits	569,159	489,309
Other borrowed money	41,705	13,386
Accrued interest payable	$ 3,050	$ 2,695

Non-interest Revenue (Details)

Non-interest Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Noninterest income	$ 899	$ 965	$ 4,555	$ 2,915
Noninterest income out of scope of ASU 606
Disaggregation of Revenue [Line Items]
Noninterest income	162	35	1,625	197
Noninterest income in scope of ASU 606
Disaggregation of Revenue [Line Items]
Noninterest income	737	930	2,930	2,718
Depository fees and charges | Noninterest income in scope of ASU 606
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	692	846	2,041	2,461
Loan fees and service charges | Noninterest income in scope of ASU 606
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	27	70	167	216
Other noninterest income | Noninterest income in scope of ASU 606
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	$ 18	$ 14	$ 722	$ 41

Other Non-interest Revenue and

Other Non-interest Revenue and Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Noninterest Income, Other [Abstract]
Grant income	$ 0	$ 0	$ 500	$ 0
Correspondent banking fees	7	0	687	0
Compliance fee	78	(9)	78	47
Other	57	46	153	139
Total non-interest income	142	37	1,418	186
Non-interest expense:
Advertising	119	32	189	234
Legal expense	93	316	355	489
Insurance and surety	232	158	565	463
Audit expense	138	136	413	398
Outsourced service	21	33	67	277
Data lines / internet	109	105	318	315
Retail expenses	216	175	607	551
Director's fees	85	77	255	232
Other	446	581	1,488	1,416
Total non-interest expense	$ 1,459	$ 1,613	$ 4,257	$ 4,375

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	7 years 3 months 18 days		7 years 3 months 18 days
Finance Lease, Weighted Average Remaining Lease Term	2 years 6 months		2 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent	3.01%		3.01%
Finance Lease, Weighted Average Discount Rate, Percent	1.78%		1.78%
Operating Lease, Expense	$ 714	$ 743	$ 2,141	$ 2,207
Finance Lease, Right-of-Use Asset, Amortization	17	16	56	20
Finance Lease, Interest Expense	1	1	2	1
Operating Lease, Payments	682	706	2,047	2,083
Finance Lease, Payments	$ 23	$ 14	$ 54	$ 30

Leases-Lease Liability, Maturit

Leases-Lease Liability, Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020	Apr. 01, 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	2,619
Lessee, Operating Lease, Liability, Payments, Due Year Three	2,479
Lessee, Operating Lease, Liability, Payments, Due Year Four	2,535
Lessee, Operating Lease, Liability, Payments, Due Year Five	2,318
Lessee, Operating Lease, Liability, Payments, Due after Year Five	7,913
Lessee, Operating Lease, Liability, Payments, Due	18,549
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(1,984)
Operating lease liability	16,565	$ 18,153	$ 20,335
Finance Lease, Liability, Payment, Due [Abstract]
Finance Lease, Liability, Payments, Due Next Twelve Months	18
Finance Lease, Liability, Payments, Due Year Two	72
Finance Lease, Liability, Payments, Due Year Three	30
Finance Lease, Liability, Payments, Due Year Four	11
Finance Lease, Liability, Payments, Due Year Five	3
Finance Lease, Liability, Payments, Due after Year Five	0
Finance Lease, Liability, Payment, Due	134
Finance Lease, Liability, Undiscounted Excess Amount	(3)
Finance Lease, Liability	$ 131

Leases Text Tags (Details)

Leases Text Tags (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Apr. 01, 2019	Mar. 31, 2019
Leases [Abstract]
Recognition of right-of-use asset	$ 20,000	$ 19,951
Finance Lease, Right-of-Use Asset			$ 138
Finance Lease, Liability			131
Stockholders' Equity Attributable to Parent		$ 49,779	46,408	$ 46,396	$ 48,894	$ 51,309		$ 47,136
Right-of-use assets			15,931		17,614
Operating lease liability			$ 16,565		$ 18,153		$ 20,335

Impact of Recent Accounting S_2

Impact of Recent Accounting Standards Text Tag (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recognition of right-of-use asset	$ 20,000	$ 19,951
Stockholders' Equity Attributable to Parent		$ 49,779	$ 46,408	$ 46,396	$ 48,894	$ 51,309	$ 47,136

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 16, 2021	Feb. 01, 2021	Jan. 22, 2021	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2011
Conversion of Stock, Shares Converted					13,519	1,208,039
Conversion of Stock, Shares Issued					1,653,397
Stock Issued During Period, Shares, New Issues				147,227
Sale of Stock, Price Per Share				$ 6.62	$ 6.62
Subsequent Event [Member]
Conversion of Stock, Shares Converted			475
Conversion of Stock, Shares Issued			58,093
Proceeds from Issuance of Private Placement	$ 6,000	$ 4,400
Subsequent Event [Member] | Common Stock
Stock Issued During Period, Shares, New Issues	112,612	157,806
Sale of Stock, Price Per Share	$ 8.88	$ 7.75
Subsequent Event [Member] | Series E Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues		3,177
Subsequent Event [Member] | Series F Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues	5,000
Sale of Stock, Price Per Share	$ 1,000