Carver Bancorp (CARV) 10-Q 14 Nov 22 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document	6 Months Ended
	Sep. 30, 2022
Document and Entity Information [Abstract]
Entity Central Index Key	0001016178
Current Fiscal Year End Date	--03-31
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

Cover Page

Cover Page - shares	6 Months Ended
	Sep. 30, 2022	Nov. 10, 2022
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-13007
Entity Registrant Name	CARVER BANCORP, INC.
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
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,226,419

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Cash and cash equivalents:
Cash and due from banks	$ 95,291	$ 60,764
Money market investments	254	254
Total cash and cash equivalents	95,545	61,018
Investment securities:
Available-for-sale	55,041	67,596
Held-to-maturity	2,511	5,254
Total investment securities	57,552	72,850
Loans receivable:
Loans, gross	574,409	579,504
Allowance for loan and lease losses	(5,509)	(5,624)
Total loans receivable, net	568,900	573,880
Premises and equipment, net	3,484	3,775
Federal Home Loan Bank of New York (“FHLB-NY”) stock, at cost	2,491	584
Accrued interest receivable	1,844	2,414
Right-of-use assets	13,524	13,637
Other assets	12,383	7,156
Total assets	755,723	735,314
Deposits:
Non-interest bearing checking	103,741	107,472
Interest-bearing deposits:
Interest-bearing checking	56,641	57,985
Savings	109,754	112,305
Money market	208,950	208,122
Certificates of deposit	144,191	139,255
Escrow	3,093	2,978
Total interest-bearing deposits	522,629	520,645
Total deposits	626,370	628,117
Advances from the FHLB-NY and other borrowed money	56,018	15,949
Operating lease liability	14,346	14,393
Other liabilities	12,752	21,768
Total liabilities	709,486	680,227
EQUITY
Common stock	68	67
Additional paid-in capital	82,734	82,165
Accumulated deficit	$ (45,315)	$ (43,503)
Treasury Stock	2,503,803	2,503,803
Treasury stock	$ (2,908)	$ (2,908)
Accumulated other comprehensive loss	(13,720)	(6,662)
Total equity	46,237	55,087
Total liabilities and equity	755,723	735,314
Series D Preferred Stock
EQUITY
Preferred stock	$ 13,201	$ 13,751
Convertible Preferred Stock, Shares Issued (in shares)	13,201	13,751
Convertible Preferred Stock, Shares Outstanding (in shares)	13,201	13,751
Series E Preferred Stock
EQUITY
Preferred stock	$ 3,177	$ 3,177
Convertible Preferred Stock, Shares Issued (in shares)	3,177	3,177
Convertible Preferred Stock, Shares Outstanding (in shares)	3,177	3,177
Series F Preferred Stock
EQUITY
Preferred stock	$ 9,000	$ 9,000
Convertible Preferred Stock, Shares Issued (in shares)	9,000	9,000
Convertible Preferred Stock, Shares Outstanding (in shares)	9,000	9,000
Real Estate
Loans receivable:
Loans, gross	$ 413,674	$ 407,835
Business
Loans receivable:
Loans, gross	159,312	170,031
Allowance for loan and lease losses	(1,814)	(2,497)
Consumer
Loans receivable:
Loans, gross	1,423	1,638
Allowance for loan and lease losses	$ (82)	$ (123)

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition Parentheticals - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Investment securities
Held-to-maturity, Fair Value	$ 2,361	$ 5,276
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)	6,797,612	6,720,618
Common Stock, Shares Outstanding (in shares)	4,293,809	4,216,815
Treasury Stock	2,503,803	2,503,803
Series D Preferred Stock
Convertible Preferred Stock, Liquidation Preference (in dollars per share)	$ 1,000	$ 1,000
Convertible Preferred Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Convertible Preferred Stock, Shares Issued (in shares)	13,201	13,751
Convertible Preferred Stock, Shares Outstanding (in shares)	13,201	13,751
Series E Preferred Stock
Convertible Preferred Stock, Liquidation Preference (in dollars per share)	$ 1,000	$ 1,000
Convertible Preferred Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Convertible Preferred Stock, Shares Issued (in shares)	3,177	3,177
Convertible Preferred Stock, Shares Outstanding (in shares)	3,177	3,177
Series F Preferred Stock
Convertible Preferred Stock, Liquidation Preference (in dollars per share)	$ 1,000	$ 1,000
Convertible Preferred Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Convertible Preferred Stock, Shares Issued (in shares)	9,000	9,000
Convertible Preferred Stock, Shares Outstanding (in shares)	9,000	9,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest income:
Loans	$ 6,005	$ 5,323	$ 11,982	$ 10,162
Mortgage-backed securities	156	158	315	402
Investment securities	201	209	366	434
Money market investments	363	28	435	49
Total interest income	6,725	5,718	13,098	11,047
Interest expense:
Deposits	827	434	1,238	959
Advances and other borrowed money	395	120	543	272
Total interest expense	1,222	554	1,781	1,231
Net interest income	5,503	5,164	11,317	9,816
(Recovery of) provision for loan losses	(189)	204	(216)	276
Net interest income after (recovery of) provision for loan losses	5,692	4,960	11,533	9,540
Non-interest income:
Depository fees and charges	553	592	1,108	1,195
Loan fees and service charges	138	43	257	145
Grant income	162	1,886	162	1,886
Other	246	643	281	1,579
Total non-interest income	1,099	3,164	1,808	4,805
Non-interest expense:
Employee compensation and benefits	3,302	2,994	6,486	5,802
Net occupancy expense	1,175	1,151	2,259	2,238
Equipment, net	526	417	1,040	891
Data processing	648	475	1,264	1,312
Consulting fees	164	206	314	226
Federal deposit insurance premiums	89	83	190	174
Other	1,842	1,714	3,600	5,374
Total non-interest expense	7,746	7,040	15,153	16,017
(Loss) income before income taxes	(955)	1,084	(1,812)	(1,672)
Income tax expense	0	0	0	0
Net (loss) income	$ (955)	$ 1,084	$ (1,812)	$ (1,672)
(Loss) income per common share:
Earnings (loss) per Share, Basic (in dollars per share)	$ (0.22)	$ 0.20	$ (0.43)	$ (0.49)
Earnings (loss) per Share, Diluted (in dollars per share)	$ (0.22)	$ 0.19	$ (0.43)	$ (0.49)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss Statement - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (955)	$ 1,084	$ (1,812)	$ (1,672)
Other comprehensive (loss) income, net of tax:
Unrealized (loss) gain of securities available-for sale, net of tax	(3,444)	(628)	(7,058)	1,491
Other comprehensive loss, net of taxes	(3,444)	(628)	(7,058)	1,491
Total comprehensive (loss) income, net of tax	$ (4,399)	$ 456	$ (8,870)	$ (181)

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Preferred Stock	Preferred Stock Series F Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock	Accumulated Other Comprehensive Loss
Equity - Beginning Balance at Mar. 31, 2021	$ 52,301	$ 25,778		$ 58	$ 75,204	$ (42,656)	$ (2,908)	$ (3,175)
Net (loss) income	(1,672)
Other comprehensive loss, net of taxes	1,491
Stock Issued During Period, Value, Conversion of Convertible Securities	0	(1,650)		(2)	(1,648)
Stock Issued During Period, Value, New Issues	4,000		$ 4,000
Stock based compensation expense	98			1	97
Equity - Ending Balance at Sep. 30, 2021	56,218	28,128		61	76,949	(44,328)	(2,908)	(1,684)
Equity - Beginning Balance at Jun. 30, 2021	51,690	24,678		60	76,328	(45,412)	(2,908)	(1,056)
Net (loss) income	1,084
Other comprehensive loss, net of taxes	(628)							(628)
Stock Issued During Period, Value, Conversion of Convertible Securities	0	(550)		(1)	(549)
Stock Issued During Period, Value, New Issues	4,000		$ 4,000
Stock based compensation expense	72			0	72
Equity - Ending Balance at Sep. 30, 2021	56,218	28,128		61	76,949	(44,328)	(2,908)	(1,684)
Equity - Beginning Balance at Mar. 31, 2022	55,087	25,928		67	82,165	(43,503)	(2,908)	(6,662)
Net (loss) income	(1,812)
Other comprehensive loss, net of taxes	(7,058)							(7,058)
Stock Issued During Period, Value, Conversion of Convertible Securities	0	(550)		(1)	(549)
Stock based compensation expense	20			0	20
Equity - Ending Balance at Sep. 30, 2022	46,237	25,378		68	82,734	(45,315)	(2,908)	(13,720)
Equity - Beginning Balance at Jun. 30, 2022	50,636	25,378		68	82,734	(44,360)	(2,908)	(10,276)
Net (loss) income	(955)
Other comprehensive loss, net of taxes	(3,444)							(3,444)
Equity - Ending Balance at Sep. 30, 2022	$ 46,237	$ 25,378		$ 68	$ 82,734	$ (45,315)	$ (2,908)	$ (13,720)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ (1,812)	$ (1,672)
Adjustments to reconcile net income to net cash provided by operating activities:
(Recovery of) provision for loan losses	(216)	276
Stock based compensation expense	20	98
Depreciation and amortization expense	521	513
Amortization and accretion of loan premiums and discounts and deferred charges, net	(88)	(59)
Amortization and accretion of premiums and discounts — securities	242	246
Decrease in accrued interest receivable	570	41
(Increase) decrease in other assets	(105)	342
Decrease in other liabilities	(8,990)	(4,487)
Net cash used in operating activities	(9,858)	(4,702)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from principal payments, maturities and calls of investments: Available-for-sale	5,259	7,849
Proceeds from principal payments, maturities and calls of investments: Held-to-maturity	2,738	2,165
Payment to Acquire Life Insurance Policy, Investing Activities	(5,000)	0
Payments for (Proceeds from) Other Loans and Leases	(14,069)	15,684
Loans purchased from third parties	(8,901)	(24,910)
Proceeds from participation loans sold	0	3,926
Purchase of FHLB-NY stock, net	(1,907)	(122)
Purchase of premises and equipment	(123)	(134)
Net cash provided by (used in) investing activities	6,135	(26,910)
CASH FLOWS FROM FINANCING ACTIVITIES
Net (decrease) increase in deposits	(1,747)	46,806
Proceeds from (Repayments of) Other Borrowings	39,997	(18,155)
Proceeds from (Repayments of) Other Long-Term Debt	0	2,500
Proceeds from Issuance of Preferred Stock and Preference Stock	0	4,000
Net cash provided by financing activities	38,250	35,151
Net increase in cash and cash equivalents	34,527	3,539
Cash and cash equivalents at beginning of period	61,018	75,591
Cash and cash equivalents at end of period	95,545	79,130
Noncash financing and investing activities
Recognition of right-of-use asset	1,103	680
Recognition of finance lease asset	58
Recognition of finance lease liability	58
Conversion of Stock, Amount Converted	550	1,650
Cash paid for:
Interest	1,518	4,261
Income taxes	$ 112	$ 91

Organization

Organization	6 Months Ended
	Sep. 30, 2022
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 had 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. During the fourth quarter of fiscal year 2021, the Company applied for and was granted regulatory approval to settle all outstanding debenture interest payments through June 2021. Full payment was made on June 16, 2021. The Company deferred the September 17, 2021 interest payment, but has since had discussions with the Federal Reserve Bank of Philadelphia regarding future quarterly payments. A streamlined process has been developed for the Company to request regulatory approval to make debenture interest payments. On December 16, 2021, the Company paid the deferred interest that was due on September 17, 2021 and the interest scheduled for December 17, 2021. Subsequently, the Company made the regular quarterly interest payment on its outstanding debentures due on March 17, 2022, June 17, 2022 and September 17, 2022. The interest rate was 6.58% and the total amount of deferred interest was $29 thousand at September 30, 2022. Carver relies primarily on dividends from Carver Federal to pay cash dividends to its stockholders and to engage in share repurchase programs. 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 May 24, 2016, the Bank entered into a Formal Agreement ("the Agreement") with the OCC to undertake certain compliance-related and other actions. As a result of the Agreement, the Bank must obtain the approval of the OCC prior to effecting any change in its directors or senior executive officers. The Bank may not declare or pay dividends or make any other capital distributions, including to the Company, without first filing an application with the OCC and receiving the prior approval of the OCC. Furthermore, the Bank must seek the OCC's written approval and the FDIC's written concurrence before entering into any "golden parachute payments" as that term is defined under 12 U.S.C. § 1828(k) and 12 C.F.R. Part 359. As a result of the Formal Agreement, Carver was issued an Individual Minimum Capital Ratio (“IMCR”) letter by the OCC, which requires the Bank to maintain minimum regulatory capital levels of 9% for its Tier1 leverage ratio and 12% for its total risk-based capital ratio. The Company is subject to similar requirements as the Bank. The Company must provide notice to the FRB prior to affecting any change in its directors or senior executive officers. The Company is also subject to the restrictions on golden parachute and indemnification payments, as set forth in 12 C.F.R. Part 359. Written approval of the Federal Reserve Bank is required prior to: (1) the declaration or payment of dividends by the Company to its stockholders, (2) the declaration or payment of dividends by the Bank to the Company, (3) any distributions of interest or principal by the Company on subordinated debentures or trust preferred securities, (4) any purchases or redemptions of the Company’s stock and (5) the Company incurring, increasing or guaranteeing certain long-term debt outside the ordinary course of business. These limitations could affect our operations and financial performance.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Sep. 30, 2022
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. Variable interest entities ("VIEs") are consolidated, as required, when Carver has a controlling financial interest in these entities and is deemed to be the primary beneficiary. Carver is normally deemed to have a controlling financial interest and be the primary beneficiary if it has both (a) the power to direct activities of a VIE that most significantly impact the entity's economic performance; and (b) the obligation to absorb losses of the entity that could benefit from the activities that could potentially be significant to the VIE. 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 six month periods ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ended March 31, 2023. The consolidated balance sheet at September 30, 2022 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, 2022. 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	6 Months Ended
	Sep. 30, 2022
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 September 30, Six Months Ended September 30, $ in thousands except per share data 2022 2021 2022 2021 Net loss (income) $ (955) $ 1,084 $ (1,812) $ (1,672) Less: Participated securities share of undistributed earnings — 399 — — Net (loss) income available to common shareholders $ (955) $ 685 $ (1,812) $ (1,672) Weighted average common shares outstanding - basic 4,291,672 3,498,861 4,260,178 3,440,827 Effect of dilutive shares — 2,014,952 — — Weighted average common shares outstanding – diluted 4,291,672 5,513,813 4,260,178 3,440,827 Basic (loss) income per common share $ (0.22) $ 0.20 $ (0.43) $ (0.49) Diluted (loss) income per common share (0.22) 0.19 (0.43) (0.49) The Company has preferred stock which are entitled to receive dividends if declared on the Company's common stock and are therefore considered to be participating securities. Basic earnings (loss) per share (“EPS”) is computed using the two class method. This calculation divides net income (loss) available to common stockholders after the allocation of undistributed earnings to the participating securities by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock. These potentially dilutive shares are then included in the weighted average number of shares outstanding for the period. Dilution calculations are not applicable to net loss periods. For the three and six months ended September 30, 2022 and six months ended September 31, 2021, all restricted shares and outstanding stock options were anti-dilutive.

Common Stock Dividends and Issu

Common Stock Dividends and Issuances	6 Months Ended
	Sep. 30, 2022
Dividends [Abstract]
Stockholders' Equity Note Disclosure	COMMON STOCK DIVIDENDS AND ISSUANCES On October 28, 2011, the United States Department of the Treasury (the "Treasury Department") 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. ("Morgan Stanley"), 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 August 6, 2020, the Company entered into a Securities Purchase Agreement (the "Agreement") with the Treasury Department to repurchase 2,321,286 shares of Company common stock, owned by the Treasury Department for an aggregate purchase price of $2.5 million. The stock repurchase provided for in the Agreement was completed on August 6, 2020. Upon completion of the repurchase pursuant to the Agreement, the Treasury Department was no longer a stockholder in the Company. In connection with the repurchase, Morgan Stanley provided a grant of $2.5 million that was considered contributed capital to the Company to fund the repurchase transaction. On October 15, 2020, the Company entered into an agreement with Banc of America Strategic Investments Corporation under which it issued and sold 147,227 shares of its common stock, par value $0.01, at a price of $6.62 per share. The shares were issued on October 15, 2020, in a private placement exempt from registration under Section 4(2) of the Securities Act of 1933, as amended, and Regulation D of the rules and regulations promulgated thereunder. On January 22, 2021, Prudential Insurance Company of America ("Prudential"), an institutional investor, notified the Company of its intention to cancel 475 of its holdings of Series D Preferred Stock and convert such shares into 58,093 shares of common stock. During fiscal year 2022, Prudential donated a total of 3,850 shares of its holdings of Series D Preferred Stock to third parties. The third parties notified the Company of their intention to cancel the shares and convert them into 470,855 shares of Common Stock. During the three months ended September 30, 2022, Prudential donated a total of 550 shares of its holdings of Series D Preferred Stock to third parties. The third parties notified the Company of their intention to cancel the shares and convert them into 67,265 shares of Common Stock. The conversions 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. On February 16, 2021, the Company entered into an agreement with J.P. Morgan Chase Community Development Corporation ("J.P. Morgan"), under which it sold: (i) 112,612 shares of its common stock, par value $0.01 per share, at a purchase price of $8.88 per share, and (ii) 5,000 shares of a new series of preferred stock, Series F non-cumulative non-voting non-convertible preferred stock, par value $0.01 per share ("Series F Preferred Stock"), at a purchase price of $1,000 per share, in a private placement for gross proceeds of approximately $6.0 million. On September 27, 2021, the Company entered into an agreement with J.P. Morgan under which it sold an additional 4,000 shares of its Series F Preferred Stock, at a purchase price of $1,000 per share, in a private placement for gross proceeds of $4.0 million. The issuances of the shares were exempt from registration pursuant to the exemption provided under Rule 506 of Regulation D promulgated under the Securities Act of 1933, as amended. The offerings were made only to accredited investors as that term is defined in Rule 501(a) of Regulation D under the Act. On December 14, 2021, the Company entered into a Sales Agreement (the "Sales Agreement") with Piper Sandler & Co. (“Piper Sandler”), as sales agent, pursuant to which the Company may offer and sell shares of our common stock, par value $0.01 per share, having an aggregate gross sales prices of up to $20.0 million (the “ATM Shares”) from time to time. Any sales made under the Sales Agreement will be sales deemed to be "at-the-market (ATM) offerings," as defined in Rule 415 under the Securities Act of 1933, as amended. These sales will be made through ordinary broker transactions on the NASDAQ Capital Market stock exchange at market prices prevailing at the time, at prices related to the prevailing market prices, or at negotiated prices. The Company may instruct Piper Sandler not to sell ATM Shares if the sales cannot be effected at or above the price designated by the Company from time to time. The Company is not obligated to make any sales of the ATM Shares under the

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	6 Months Ended
	Sep. 30, 2022
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 six months ended September 30, 2022 and 2021: $ in thousands At March 31, 2022 Other At September 30, 2022 Net unrealized income (loss) on securities available-for-sale $ (6,662) $ (7,058) $ (13,720) $ in thousands At March 31, 2021 Other At September 30, 2021 Net unrealized income (loss) on securities available-for-sale $ (3,175) $ 1,491 $ (1,684)

Investment Securities

Investment Securities	6 Months Ended
	Sep. 30, 2022
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. Debt securities are classified into three categories: trading, held-to-maturity, and available-for-sale. At September 30, 2022, securities with fair value of $55.0 million, or 95.6%, of the Bank’s total securities were classified as available-for-sale, and securities with amortized cost of $2.5 million, or 4.4%, were classified as held-to-maturity, compared to $67.6 million and $5.3 million at March 31, 2022, respectively. The Bank had no securities classified as trading at September 30, 2022 and March 31, 2022. Other investments as of September 30, 2022 primarily consists of the Bank's investment in a limited partnership Community Capital Fund and a $5 million bank-owned life insurance policy ("BOLI") that was purchased during the first quarter of fiscal year 2023 as a channel to add to the Company's non-interest income revenue by means of an investment considered safe and sound by the Company's regulators. The investment in the limited partnership is measured using the equity method. The BOLI is carried at the cash surrender value of the underlying policies. Income generated from the investment and the increase in the cash surrender value of the BOLI is included in other non-interest income on the Statements of Operations. Other investments totaled $6.2 million at September 30, 2022 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 September 30, 2022 and March 31, 2022: At September 30, 2022 Amortized Gross Unrealized $ in thousands Cost Gains Losses Fair Value Available-for-Sale: Mortgage-backed Securities: Government National Mortgage Association $ 375 $ 1 $ 1 $ 375 Federal Home Loan Mortgage Corporation 22,448 — 4,491 17,957 Federal National Mortgage Association 12,094 — 2,484 9,610 Total mortgage-backed securities 34,917 1 6,976 27,942 U.S. Government Agency Securities 10,743 — 24 10,719 Corporate Bonds 5,270 — 2,297 2,973 Muni Securities 17,730 — 4,422 13,308 Asset-backed Securities 101 — 2 99 Total available-for-sale $ 68,761 $ 1 $ 13,721 $ 55,041 Held-to-Maturity: Mortgage-backed Securities: Government National Mortgage Association $ 399 $ — $ 11 $ 388 Federal National Mortgage Association and Other 2,112 — 139 1,973 Total held-to maturity $ 2,511 $ — $ 150 $ 2,361 At March 31, 2022 Amortized Gross Unrealized $ in thousands Cost Gains Losses Fair Value Available-for-Sale: Mortgage-backed Securities: Government National Mortgage Association $ 439 $ 9 $ — $ 448 Federal Home Loan Mortgage Corporation 23,744 — 2,197 21,547 Federal National Mortgage Association 12,852 — 1,268 11,584 Total mortgage-backed securities 37,035 9 3,465 33,579 U.S. Government Agency Securities 13,864 — 79 13,785 Corporate Bonds 5,271 — 1,150 4,121 Muni Securities 17,741 — 1,973 15,768 Asset-backed Securities 347 — 4 343 Total available-for-sale $ 74,258 $ 9 $ 6,671 $ 67,596 Held-to-Maturity: Mortgage-backed Securities: Government National Mortgage Association $ 481 $ 27 $ — $ 508 Federal National Mortgage Association and Other 4,773 9 14 4,768 Total held-to-maturity $ 5,254 $ 36 $ 14 $ 5,276 There were no sales of available-for-sale and held-to-maturity securities for the six months ended September 30, 2022 and September 30, 2021. The following tables set forth the unrealized losses and fair value of securities in an unrealized loss position at September 30, 2022 and March 31, 2022 for less than 12 months and 12 months or longer: At September 30, 2022 Less than 12 months 12 months or longer Total $ in thousands Unrealized Fair Unrealized Fair Unrealized Fair Available-for-Sale: Mortgage-backed securities $ 45 $ 1,272 $ 6,931 $ 26,344 $ 6,976 $ 27,616 U.S. Government Agency securities 4 4,573 20 6,146 24 10,719 Corporate bonds — — 2,297 2,973 2,297 2,973 Muni securities 1,087 4,105 3,335 9,203 4,422 13,308 Asset-backed securities 2 99 — — 2 99 Total available-for-sale securities $ 1,138 $ 10,049 $ 12,583 $ 44,666 $ 13,721 $ 54,715 Held-to-Maturity: Mortgage-backed securities $ 150 $ 2,324 $ — $ — $ 150 $ 2,324 Total held-to-maturity securities $ 150 $ 2,324 $ — $ — $ 150 $ 2,324 At March 31, 2022 Less than 12 months 12 months or longer Total $ in thousands Unrealized Fair Unrealized Fair Unrealized Fair Available-for-Sale: Mortgage-backed securities $ 519 $ 7,057 $ 2,946 $ 26,128 $ 3,465 $ 33,185 U.S. Government Agency securities — — 79 13,785 79 13,785 Corporate bonds — — 1,150 4,121 1,150 4,121 Muni securities 1,640 13,512 333 2,256 1,973 15,768 Asset-backed securities 4 343 — — 4 343 Total available-for-sale securities $ 2,163 $ 20,912 $ 4,508 $ 46,290 $ 6,671 $ 67,202 Held-to-Maturity: Mortgage-backed securities $ 14 $ 2,204 $ — $ — $ 14 $ 2,204 Total held-to-maturity securities $ 14 $ 2,204 $ — $ — $ 14 $ 2,204 A total of 25 securities had an unrealized loss at September 30, 2022 compared to 23 at March 31, 2022. Mortgage-backed securities, U.S. government agency securities, municipal securities and a corporate bond security represented 50.5%, 19.6%, 24.3% and 5.4%, respectively, of total available-for-sale securities in an unrealized loss position at September 30, 2022. There were five mortgage-backed securities, two U.S. government agency securities, one corporate bond and four municipal securities that had an unrealized loss position for more than 12 months at September 30, 2022. Given the high credit quality of the mortgage-backed securities, which are backed by the U.S. government's guarantees, the high credit quality and strong financial performance of the U.S. Government Agency and municipal securities, and the corporate security that is a reputable institution in good financial standing, the risk of credit loss is minimal. Management believes that these unrealized losses are a direct result of the current rate environment and the Company has the ability and intent to hold the securities until maturity or the valuations recover. The Bank did not have any securities that were classified as having other-than-temporary impairment in its investment portfolio at September 30, 2022. The following is a summary of the amortized cost and fair value of debt securities at September 30, 2022, by remaining period to contractual maturity (ignoring earlier call dates, if any). Actual maturities may differ from contractual maturities because certain security issuers have the right to call or prepay their obligations. The table below does not consider the effects of possible prepayments or unscheduled repayments. $ in thousands Amortized Cost Fair Value Weighted Available-for-Sale: Less than one year $ 101 $ 99 (0.85) % One through five years — — — % Five through ten years 6,344 5,965 3.23 % After ten years 27,399 21,035 2.67 % Mortgage-backed securities 34,917 27,942 1.53 % Total $ 68,761 $ 55,041 1.99 % Held-to-maturity: Mortgage-backed securities $ 2,511 $ 2,361 2.77 %

Loans Receivable and Allowance

Loans Receivable and Allowance for Loan and Lease Losses	6 Months Ended
	Sep. 30, 2022
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 fiscal year 2021, we increased our qualitative factors and assessment criteria due to the ongoing pandemic. In fiscal year 2022, we adjusted our qualitative factors and assessment criteria from high to medium based on improving economic factors, such as unemployment and overall increased activity due to less pandemic related restrictions. The increase in the qualitative reserves was related to the overall increase in our loan portfolio. These increases in reserves were partially offset by decreases in our quantitative reserve analysis as the rolling 20 quarter historical loss look back period improved for most of our loan categories. During fiscal year-to-date 2023, we again increased our qualitative factors and assessment criteria to high due to the economic climate in general and its impact on the New York City ("NYC") metropolitan area in which the Company operates. With inflation at a 40-year high, the Federal Reserve has increased the federal funds rate 3.0% since September 30, 2021. In terms of restoring pre-pandemic jobs, NYC represents the slowest recovery of any major metropolitan area and reports a high unemployment rate of 5.6%. In spite of the strict analysis applied to our qualitative reserves, the Company's overall allowance declined moderately as the level of gross loans decreased and the rolling 20 quarter loss look back period revealed little in recorded losses. 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 September 30, 2022 and March 31, 2022: September 30, 2022 March 31, 2022 $ in thousands Amount Percent Amount Percent Gross loans receivable: One-to-four family $ 66,302 11.6 % $ 69,297 12.0 % Multifamily 171,946 30.1 % 160,800 27.9 % Commercial real estate 172,341 30.2 % 174,270 30.2 % Business (1) 159,422 27.9 % 170,497 29.6 % Consumer (2) 1,409 0.2 % 1,623 0.3 % Total loans receivable $ 571,420 100.0 % $ 576,487 100.0 % Unamortized premiums, deferred costs and fees, net 2,989 3,017 Allowance for loan losses (5,509) (5,624) Total loans receivable, net $ 568,900 $ 573,880 (1) Includes PPP loans and business overdrafts (2) Includes personal loans and consumer overdrafts The Bank participated as a lender in the PPP, which opened on April 3, 2020. As part of the CARES Act, the SBA was authorized to temporarily guarantee loans under this new 7(a) loan program. Under the PPP, small businesses and other entities and individuals could apply for loans from existing SBA lenders and other approved regulated lenders that enrolled 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 September 30, 2022, the Bank had approved and funded approximately 420 applications totaling $57.1 million of loans under the PPP. The Bank has begun to receive debt forgiveness payments on PPP loans closed during the first and second rounds of the program. Business loans included PPP loans outstanding totaling $5.3 million as of September 30, 2022. 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 continued to be considered current and not reported as TDRs. For the fiscal year ended March 31, 2021, the Bank received 83 applications for payment deferrals on approximately $90.4 million of loans. 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. At September 30, 2022 and March 31, 2022, no loans were on COVID-related deferrals as the remaining 90-day loan deferments expired and borrowers became current. The following is an analysis of the allowance for loan losses based upon the method of evaluating loan impairment for the three and six month periods ended September 30, 2022 and 2021, and the fiscal year ended March 31, 2022. Three months ended September 30, 2022 $ in thousands One-to-four Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 649 $ 1,053 $ 1,108 $ 2,321 $ 113 $ 360 $ 5,604 Charge-offs — — — — (11) — (11) Recoveries 90 — 10 4 1 — 105 Provision for (recovery of) Loan Losses (35) 2 490 (511) (21) (114) (189) Ending Balance $ 704 $ 1,055 $ 1,608 $ 1,814 $ 82 $ 246 $ 5,509 Six months ended September 30, 2022 $ in thousands One-to-four Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 731 $ 1,114 $ 1,157 $ 2,497 $ 123 $ 2 $ 5,624 Charge-offs — — — — (24) — (24) Recoveries 90 — 10 23 2 — 125 Provision for (recovery of) Loan Losses (117) (59) 441 (706) (19) 244 (216) Ending Balance $ 704 $ 1,055 $ 1,608 $ 1,814 $ 82 $ 246 $ 5,509 Allowance for Loan Losses Ending Balance: collectively evaluated for impairment $ 603 $ 1,055 $ 1,014 $ 1,700 $ 82 $ 246 $ 4,700 Allowance for Loan Losses Ending Balance: individually evaluated for impairment 101 — 594 114 — — 809 Loan Receivables Ending Balance: $ 67,180 $ 173,169 $ 173,325 $ 159,312 $ 1,423 $ — $ 574,409 Ending Balance: collectively evaluated for impairment 61,798 173,169 163,870 153,008 1,423 — 553,268 Ending Balance: individually evaluated for impairment 5,382 — 9,455 6,304 — — 21,141 At March 31, 2022 $ in thousands One-to-four family Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for Loan Losses Ending Balance: collectively evaluated for impairment $ 731 $ 1,114 $ 1,157 $ 2,428 $ 123 $ 2 $ 5,555 Allowance for Loan Losses Ending Balance: individually evaluated for impairment — — — 69 — — 69 Loan Receivables Ending Balance: $ 70,261 $ 162,261 $ 175,313 $ 170,031 $ 1,638 $ — $ 579,504 Ending Balance: collectively evaluated for impairment 65,369 161,746 175,313 163,991 1,638 — 568,057 Ending Balance: individually evaluated for impairment 4,892 515 — 6,040 — — 11,447 Three months ended September 30, 2021 $ in thousands One-to-four Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1,086 $ 826 $ 870 $ 2,104 $ 144 $ 184 $ 5,214 Charge-offs — — — — (44) — (44) Recoveries — — — 1 12 128 141 Provision for (recovery of) Loan Losses (71) 88 132 1 25 29 204 Ending Balance $ 1,015 $ 914 $ 1,002 $ 2,106 $ 137 $ 341 $ 5,515 Six months ended September 30, 2021 $ in thousands One-to-four family Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1,058 $ 880 $ 907 $ 1,855 $ 165 $ 275 $ 5,140 Charge-offs — — — — (99) — (99) Recoveries — — — 50 20 128 198 Provision for (recovery of) Loan Losses (43) 34 95 201 51 (62) 276 Ending Balance $ 1,015 $ 914 $ 1,002 $ 2,106 $ 137 $ 341 $ 5,515 The following is a summary of nonaccrual loans at September 30, 2022 and March 31, 2022. $ in thousands September 30, 2022 March 31, 2022 Gross loans receivable: One-to-four family $ 4,371 $ 4,892 Multifamily — 515 Commercial real estate 9,455 4,601 Business 1,179 1,448 Consumer 87 25 Total nonaccrual loans $ 15,092 $ 11,481 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. 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. At September 30, 2022 and March 31, 2022, other non-performing assets totaled $60 thousand, respectively, which consisted of other real estate owned comprised of one foreclosed residential property. Other real estate loans is included in other assets in the consolidated statements of financial condition. There were no held-for-sale loans at September 30, 2022 and March 31, 2022. Although we believe that substantially all risk elements at September 30, 2022 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. 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 September 30, 2022, 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 $ 171,570 $ 163,156 $ 145,602 Special Mention 776 714 6,179 Substandard 823 9,455 7,531 Total $ 173,169 $ 173,325 $ 159,312 One-to-four family Consumer Credit Risk Profile Based on Payment Activity: Performing $ 61,798 $ 1,423 Non-Performing 5,382 — Total $ 67,180 $ 1,423 At March 31, 2022, the risk category by class of loans was as follows: $ in thousands Multifamily Commercial Real Estate Business Credit Risk Profile by Internally Assigned Grade: Pass $ 155,274 $ 164,543 $ 155,196 Special Mention 897 8,157 6,302 Substandard 6,090 2,613 8,533 Total $ 162,261 $ 175,313 $ 170,031 One-to-four family Consumer Credit Risk Profile Based on Payment Activity: Performing $ 65,369 $ 1,613 Non-Performing 4,892 25 Total $ 70,261 $ 1,638 The following table presents an aging analysis of the recorded investment of past due loans receivables at September 30, 2022 and March 31, 2022. . September 30, 2022 $ in thousands 30-59 Days 60-89 Days 90 or More Days Past Due Total Past Current Total Loans One-to-four family $ — $ — $ 4,043 $ 4,043 $ 63,137 $ 67,180 Multifamily — — — — 173,169 173,169 Commercial real estate 4,522 — 4,933 9,455 163,870 173,325 Business — — 663 663 158,649 159,312 Consumer — 39 92 131 1,292 1,423 Total $ 4,522 $ 39 $ 9,731 $ 14,292 $ 560,117 $ 574,409 March 31, 2022 $ in thousands 30-59 Days 60-89 Days 90 or More Days Past Due Total Past Current Total Loans Receivables One-to-four family $ 1,943 $ — $ 5,229 $ 7,172 $ 63,089 $ 70,261 Multifamily 4,435 115 515 5,065 157,196 162,261 Commercial real estate 4,010 — 4,601 8,611 166,702 175,313 Business 923 40 664 1,627 168,404 170,031 Consumer 84 45 25 154 1,484 1,638 Total $ 11,395 $ 200 $ 11,034 $ 22,629 $ 556,875 $ 579,504 The following table presents information on impaired loans with the associated allowance amount, if applicable, at September 30, 2022 and March 31, 2022. At September 30, 2022 At March 31, 2022 $ in thousands Recorded Unpaid Associated Recorded Unpaid Associated With no specific allowance recorded: One-to-four family $ 4,342 $ 4,937 $ — $ 4,892 $ 5,576 $ — Multifamily — — — 515 515 — Commercial real estate 7,847 7,940 — — — — Business 1,179 1,222 — 837 909 — With an allowance recorded: One-to-four family 1,040 1,039 101 — — — Commercial real estate 1,608 1,608 594 — — — Business 5,125 5,125 114 5,203 5,203 69 Total $ 21,141 $ 21,871 $ 809 $ 11,447 $ 12,203 $ 69 The following tables presents information on average balances of impaired loans and the interest income recognized on a cash basis for the three and six month periods ended September 30, 2022 and 2021. For the Three Months Ended September 30, For the Six Months Ended September 30, 2022 2021 2022 2021 $ in thousands Average Balance Interest Income Recognized Average Balance Interest Income Recognized Average Balance Interest Income Recognized Average Balance Interest Income Recognized With no specific allowance recorded: One-to-four family $ 4,772 $ 9 $ 3,735 $ 3 $ 4,617 $ 41 $ 3,728 $ 6 Multifamily 55 — 625 — 257 3 883 — Commercial real estate 7,008 39 555 — 3,923 82 192 — Business 1,207 17 2,245 — 1,008 26 2,199 — With an allowance recorded: One-to-four family 742 9 75 — 520 23 74 1 Commercial real estate 804 — — — 804 — — — Business 5,144 71 5,383 73 5,164 143 5,363 149 Total $ 19,732 $ 145 $ 12,618 $ 76 $ 16,293 $ 318 $ 12,439 $ 156 In certain circumstances, loan modifications involve a troubled borrower to whom the Bank may grant a concession. In cases where the Bank grants any significant concessions to a troubled borrower, the Bank accounts for the modification as a TDR. Situations around these modifications may include extension of maturity date, reduction in the stated interest rate, rescheduling of future cash flows, reduction in the face amount of the debt or reduction of past accrued interest. Loans modified in TDRs are placed on nonaccrual status until the Company determines that future collection of principal and interest is reasonably assured, which generally requires that the borrower demonstrate performance according to the restructured terms for a period of at least six months. There were two loan modifications made during the six months ended September 30, 2022. No loan modifications were made during the three months ended September 30, 2022. There were no loan modifications made during the three and six months ended September 30, 2021. Total TDR loans at September 30, 2022 were $7.2 million, $1.0 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, 2022, total TDR loans were $6.9 million, of which $1.7 million were non-performing. The following table presents an analysis of the loan modifications that were classified as TDRs during the three and six months ended September 30, 2022. Loan Modifications for the six months ended September 30, 2022 $ in thousands Number of loans Recorded investment One-to-four family 2 $ 1,047 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 September 30, 2022 and 2021, there were no modified loans that defaulted within 12 months of modification. At September 30, 2022, there were 4 loans in the TDR portfolio totaling $6.2 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, 2022, there were 2 loans in the TDR portfolio totaling $5.2 million that were on accrual status. Transactions With Certain Related Persons Federal law requires that all loans or extensions of credit to executive officers and directors must be made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with the general public and must not involve more than the normal risk of repayment or present other unfavorable features. The aggregate amount of loans outstanding to related parties was $30 thousand at September 30, 2022 and at March 31, 2022. There were no advances or principal repayments during the six months ended September 30, 2022. 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	6 Months Ended
	Sep. 30, 2022
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 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 September 30, 2022 and March 31, 2022, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates: Fair Value Measurements at September 30, 2022, Using $ in thousands Quoted Prices in Active Markets for Identical Assets Significant Other Significant Total Fair Mortgage servicing rights $ — $ — $ 157 $ 157 Investment securities Available-for-sale: Mortgage-backed securities: Government National Mortgage Association — 375 — 375 Federal Home Loan Mortgage Corporation — 17,957 — 17,957 Federal National Mortgage Association — 9,610 — 9,610 U.S. Government Agency securities — 10,719 — 10,719 Corporate bonds — 2,973 — 2,973 Muni securities — 13,308 — 13,308 Asset-backed securities — 99 — 99 Total available-for-sale securities — 55,041 — 55,041 Total assets $ — $ 55,041 $ 157 $ 55,198 Fair Value Measurements at March 31, 2022, Using $ in thousands Quoted Prices in Significant Other Significant Total Fair Mortgage servicing rights $ — $ — $ 162 $ 162 Investment securities Available-for-sale: Mortgage-backed securities: Government National Mortgage Association — 448 — 448 Federal Home Loan Mortgage Corporation — 21,547 — 21,547 Federal National Mortgage Association — 11,584 — 11,584 U.S. Government Agency securities — 13,785 — 13,785 Corporate bonds — 4,121 — 4,121 Muni securities — 15,768 — 15,768 Asset-backed securities — 343 — 343 Total available-for-sale securities — 67,596 — 67,596 Total assets $ — $ 67,596 $ 162 $ 67,758 Instruments for which unobservable inputs are significant to their fair value measurement (i.e., Level 3) include mortgage servicing rights (“MSR”). Level 3 assets accounted for 0.02% of the Company’s total assets at September 30, 2022 and March 31, 2022. 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 six month period ended September 30, 2022, 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 six months ended September 30, 2022 and 2021: $ in thousands Beginning balance, Total Realized/Unrealized Gains/(Losses) Recorded in Income (1) Issuances / (Settlements) Transfers to/(from) Level 3 Ending balance, September 30, 2022 Change in Unrealized Gains/(Losses) Related to Instruments Held at September 30, 2022 Mortgage servicing rights 162 (5) — — 157 (5) $ in thousands Beginning balance, Total Realized/Unrealized Gains/(Losses) Recorded in Income (1) Issuances / (Settlements) Transfers to/(from) Level 3 Ending balance, September 30, 2021 Change in Unrealized Gains/(Losses) Related to Instruments Held at September 30, 2021 Mortgage servicing rights 147 4 — — 151 4 (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 September 30, 2022 and March 31, 2022, the significant unobservable inputs used in the fair value measurements were as follows: $ in thousands Fair Value September 30, 2022 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Mortgage servicing rights 157 Discounted Cash Flow Weighted Average Constant Prepayment Rate (1) 4.07 % Option Adjusted Spread ("OAS") applied to Treasury curve 1000 basis points $ in thousands Fair Value March 31, 2022 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Mortgage servicing rights 162 Discounted Cash Flow Weighted Average Constant Prepayment Rate (1) 6.70 % Option Adjusted Spread ("OAS" applied to Treasury curve 1000 basis points (1) Represents annualized loan repayment rate assumptions Certain assets are measured at fair value on a non-recurring basis. Such instruments are subject to fair value adjustments under certain circumstances (e.g. when there is evidence of impairment). The following table presents assets and liabilities that were measured at fair value on a non-recurring basis as of September 30, 2022 and March 31, 2022, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates: Fair Value Measurements at September 30, 2022 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 $ — $ — $ 6,964 $ 6,964 Other real estate owned — — 60 $ 60 Fair Value Measurements at March 31, 2022, 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 $ — $ — $ 5,334 $ 5,334 Other real estate owned — — 60 $ 60 For Level 3 assets measured at fair value on a non-recurring basis as of September 30, 2022 and March 31, 2022, the significant unobservable inputs used in the fair value measurements were as follows: $ in thousands Fair Value September 30, 2022 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Impaired loans $ 6,964 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, 2022 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Impaired loans $ 5,334 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 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. As of September 30, 2022 and March 31, 2022, we had loans with a carrying value of $5.3 million and $3.1 million, respectively, for which formal foreclosure proceedings were in process.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and March 31, 2022 are as follows: September 30, 2022 $ 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 $ 95,545 $ 95,545 $ 95,545 $ — $ — Securities available-for-sale 55,041 55,041 — 55,041 — Securities held-to-maturity 2,511 2,361 — 2,361 — Loans receivable 568,900 533,604 — — 533,604 Accrued interest receivable 1,844 1,844 — 1,844 — Mortgage servicing rights 157 157 — — 157 Financial Liabilities: Deposits $ 626,370 $ 620,393 $ 479,086 $ 141,307 $ — Advances from FHLB of New York 40,000 39,976 — 39,976 — Other borrowed money 15,903 14,546 — 14,546 — Accrued interest payable 353 353 — 353 — March 31, 2022 $ 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 $ 61,018 $ 61,018 $ 61,018 $ — $ — Securities available-for-sale 67,596 67,596 — 67,596 — Securities held-to-maturity 5,254 5,276 — 5,276 — Loans receivable 573,880 563,821 — — 563,821 Accrued interest receivable 2,414 2,414 — 2,414 — Mortgage servicing rights 162 162 — — 162 Financial Liabilities: Deposits $ 628,117 $ 624,160 $ 485,884 $ 138,276 $ — Other borrowed money 15,906 15,673 — 15,673 — Accrued interest payable 91 91 — 91 —

Non-interest Revenue and Expens

Non-interest Revenue and Expense	6 Months Ended
	Sep. 30, 2022
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. Interchange 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 six months ended September 30, 2022 and 2021: Three Months Ended September 30, Six Months Ended September 30, $ in thousands 2022 2021 2022 2021 Non-interest income In-scope of Topic 606 Depository fees and charges $ 553 $ 592 $ 1,108 $ 1,195 Loan fees and service charges 132 41 248 139 Other non-interest income 152 636 162 1,511 Non-interest income (in-scope of Topic 606) 837 1,269 1,518 2,845 Non-interest income (out-of-scope of Topic 606) 262 1,895 290 1,960 Total non-interest income $ 1,099 $ 3,164 $ 1,808 $ 4,805 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 September 30, Six Months Ended September 30, $ in thousands 2022 2021 2022 2021 Other non-interest income: Correspondent banking fees $ 143 $ 624 143 1,489 Other 103 19 138 90 Total non-interest income $ 246 $ 643 $ 281 $ 1,579 Other non-interest expense: Advertising $ 111 $ 180 $ 264 $ 279 Legal expense 112 248 183 327 Insurance and surety 289 179 585 378 Audit expense 148 137 299 248 Data lines / internet 99 104 194 213 Security services 75 59 149 107 Retail expenses 250 245 467 488 Loss contingency 23 (101) 34 2,016 Director's fees 123 71 246 142 Other 612 592 1,179 1,176 Total non-interest expense $ 1,842 $ 1,714 $ 3,600 $ 5,374

Leases

Leases	6 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Lessee, Operating Leases	LEASES The Company applies Accounting Standards Codification Topic 842, Leases , ("ASC 842") to its leases. 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. As of September 30, 2022, operating ROU lease assets and related lease liabilities totaled $13.5 million and $14.3 million, respectively. As the implicit rates of the Company's existing leases are not readily determinable, the incremental borrowing 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 September 30, 2022, the Company had $125 thousand and $115 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 six months ended September 30, 2022: September 30, 2022 Weighted-average remaining lease term Operating leases 5.7 years Finance lease 2.6 years Weighted-average discount rate Operating leases 3.03 % Finance lease 2.74 % Three Months Ended September 30, Six Months Ended September 30, $ in thousands 2022 2021 2022 2021 Operating lease expense $ 716 $ 726 $ 1,432 $ 1,438 Finance lease cost Amortization of right-of use asset 15 18 32 35 Interest on lease liability 1 1 2 1 Cash paid for amounts included in the measurement of lease liabilities Operating leases 696 694 1,392 1,380 Finance lease 19 12 38 36 Maturities of lease liabilities at September 30, 2022 are as follows: $ in thousands Operating Leases Finance Leases Year ending March 31, 2023 $ 1,382 $ 38 2024 2,921 41 2025 2,705 18 2026 2,687 16 2027 2,441 5 Thereafter 3,535 — Total lease payments 15,671 118 Interest (1,325) (3) Lease liability $ 14,346 $ 115

Impact of Recent Accounting Sta

Impact of Recent Accounting Standards	6 Months Ended
	Sep. 30, 2022
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, 2021, the Company adopted ASU No. 2019-12 "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes," which was 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 simplified the accounting for income taxes and improved consistent application of GAAP by removing certain exceptions and clarifying and amending existing guidance for areas of Topic 740. The adoption of the standard did not have a material impact on the Company's financial statements. Accounting Standards Not Yet Adopted In June 2016, the FASB issued ASU No. 016-13, "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 March 2022, the FASB issued ASU No. 2022-02, "Financial Instruments - Credit Losses (ASC 326): Troubled Debt Restructurings (TDRs) and Vintage Disclosures," which eliminates the accounting guidance for TDRs by creditors, while enhancing disclosure requirements for certain loan refinancing and restructuring activities by creditors when a borrower is experiencing financial difficulty. The amendments also require disclosure of current period gross writeoffs by year of origination. The effective dates for the amendments in ASU 2022-02 are the same as the effective dates in ASU 2016-13. The Company is evaluating the impacts of this ASU and does not believe it will have a material impact on the consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04 "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting," which provides optional expedients and exceptions for applying GAAP to loan and lease agreements, derivative contracts, and other transactions affected by the anticipated transition away from LIBOR toward new interest rate benchmarks. For transactions that are modified because of reference rate reform and that meet certain scope guidance (i) modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate and the modification will be considered "minor" so that any existing unamortized origination fees/costs would carry forward and continue to be amortized and (ii) modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required for modifications not accounted for as separate contracts. ASU 2020-04 is effective March 12, 2020 through December 31, 2022. An entity may elect to apply ASU 2020-04 for contract modifications as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected for a Topic or an Industry Subtopic, the amendments in this ASU must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic. We anticipate this ASU will simplify any modifications we execute between the selected start date (yet to be determined) and December 31, 2022 that are directly related to LIBOR transition by allowing prospective recognition of the continuation of the contract, rather than extinguishment of the old contract resulting in writing off unamortized fees/costs. The Company is evaluating the impacts of this ASU and has not yet determined whether LIBOR transition and this ASU will have a material impact on the Company's consolidated statements of financial condition and results of operations. In November 2021, the FASB issued ASU No. 2021-10 "Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance," to improve the financial reporting of government assistance received by business entities by requiring the disclosure of (1) the types of assistance received, (2) an entity’s accounting for the assistance, and (3) the effect of the assistance on an entity’s financial statements. ASU 2021-10 is effective for all entities for financial statements issued for annual periods beginning after December 15, 2021 (for the Company, the fiscal year ending March 31, 2023). Early application of the guidance is permitted. The Company is evaluating the impacts of this ASU to determine whether it will have a material impact on the Company's consolidated statements of financial condition and results of operations.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2022
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. Variable interest entities ("VIEs") are consolidated, as required, when Carver has a controlling financial interest in these entities and is deemed to be the primary beneficiary. Carver is normally deemed to have a controlling financial interest and be the primary beneficiary if it has both (a) the power to direct activities of a VIE that most significantly impact the entity's economic performance; and (b) the obligation to absorb losses of the entity that could benefit from the activities that could potentially be significant to the VIE. 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 six month periods ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ended March 31, 2023. The consolidated balance sheet at September 30, 2022 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, 2022. 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)	6 Months Ended
	Sep. 30, 2022
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 September 30, Six Months Ended September 30, $ in thousands except per share data 2022 2021 2022 2021 Net loss (income) $ (955) $ 1,084 $ (1,812) $ (1,672) Less: Participated securities share of undistributed earnings — 399 — — Net (loss) income available to common shareholders $ (955) $ 685 $ (1,812) $ (1,672) Weighted average common shares outstanding - basic 4,291,672 3,498,861 4,260,178 3,440,827 Effect of dilutive shares — 2,014,952 — — Weighted average common shares outstanding – diluted 4,291,672 5,513,813 4,260,178 3,440,827 Basic (loss) income per common share $ (0.22) $ 0.20 $ (0.43) $ (0.49) Diluted (loss) income per common share (0.22) 0.19 (0.43) (0.49) The Company has preferred stock which are entitled to receive dividends if declared on the Company's common stock and are therefore considered to be participating securities. Basic earnings (loss) per share (“EPS”) is computed using the two class method. This calculation divides net income (loss) available to common stockholders after the allocation of undistributed earnings to the participating securities by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock. These potentially dilutive shares are then included in the weighted average number of shares outstanding for the period. Dilution calculations are not applicable to net loss periods. For the three and six months ended September 30, 2022 and six months ended September 31, 2021, all restricted shares and outstanding stock options were anti-dilutive.

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Sep. 30, 2022
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 six months ended September 30, 2022 and 2021: $ in thousands At March 31, 2022 Other At September 30, 2022 Net unrealized income (loss) on securities available-for-sale $ (6,662) $ (7,058) $ (13,720) $ in thousands At March 31, 2021 Other At September 30, 2021 Net unrealized income (loss) on securities available-for-sale $ (3,175) $ 1,491 $ (1,684)

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and March 31, 2022: At September 30, 2022 Amortized Gross Unrealized $ in thousands Cost Gains Losses Fair Value Available-for-Sale: Mortgage-backed Securities: Government National Mortgage Association $ 375 $ 1 $ 1 $ 375 Federal Home Loan Mortgage Corporation 22,448 — 4,491 17,957 Federal National Mortgage Association 12,094 — 2,484 9,610 Total mortgage-backed securities 34,917 1 6,976 27,942 U.S. Government Agency Securities 10,743 — 24 10,719 Corporate Bonds 5,270 — 2,297 2,973 Muni Securities 17,730 — 4,422 13,308 Asset-backed Securities 101 — 2 99 Total available-for-sale $ 68,761 $ 1 $ 13,721 $ 55,041 Held-to-Maturity: Mortgage-backed Securities: Government National Mortgage Association $ 399 $ — $ 11 $ 388 Federal National Mortgage Association and Other 2,112 — 139 1,973 Total held-to maturity $ 2,511 $ — $ 150 $ 2,361 At March 31, 2022 Amortized Gross Unrealized $ in thousands Cost Gains Losses Fair Value Available-for-Sale: Mortgage-backed Securities: Government National Mortgage Association $ 439 $ 9 $ — $ 448 Federal Home Loan Mortgage Corporation 23,744 — 2,197 21,547 Federal National Mortgage Association 12,852 — 1,268 11,584 Total mortgage-backed securities 37,035 9 3,465 33,579 U.S. Government Agency Securities 13,864 — 79 13,785 Corporate Bonds 5,271 — 1,150 4,121 Muni Securities 17,741 — 1,973 15,768 Asset-backed Securities 347 — 4 343 Total available-for-sale $ 74,258 $ 9 $ 6,671 $ 67,596 Held-to-Maturity: Mortgage-backed Securities: Government National Mortgage Association $ 481 $ 27 $ — $ 508 Federal National Mortgage Association and Other 4,773 9 14 4,768 Total held-to-maturity $ 5,254 $ 36 $ 14 $ 5,276
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 September 30, 2022 and March 31, 2022 for less than 12 months and 12 months or longer: At September 30, 2022 Less than 12 months 12 months or longer Total $ in thousands Unrealized Fair Unrealized Fair Unrealized Fair Available-for-Sale: Mortgage-backed securities $ 45 $ 1,272 $ 6,931 $ 26,344 $ 6,976 $ 27,616 U.S. Government Agency securities 4 4,573 20 6,146 24 10,719 Corporate bonds — — 2,297 2,973 2,297 2,973 Muni securities 1,087 4,105 3,335 9,203 4,422 13,308 Asset-backed securities 2 99 — — 2 99 Total available-for-sale securities $ 1,138 $ 10,049 $ 12,583 $ 44,666 $ 13,721 $ 54,715 Held-to-Maturity: Mortgage-backed securities $ 150 $ 2,324 $ — $ — $ 150 $ 2,324 Total held-to-maturity securities $ 150 $ 2,324 $ — $ — $ 150 $ 2,324 At March 31, 2022 Less than 12 months 12 months or longer Total $ in thousands Unrealized Fair Unrealized Fair Unrealized Fair Available-for-Sale: Mortgage-backed securities $ 519 $ 7,057 $ 2,946 $ 26,128 $ 3,465 $ 33,185 U.S. Government Agency securities — — 79 13,785 79 13,785 Corporate bonds — — 1,150 4,121 1,150 4,121 Muni securities 1,640 13,512 333 2,256 1,973 15,768 Asset-backed securities 4 343 — — 4 343 Total available-for-sale securities $ 2,163 $ 20,912 $ 4,508 $ 46,290 $ 6,671 $ 67,202 Held-to-Maturity: Mortgage-backed securities $ 14 $ 2,204 $ — $ — $ 14 $ 2,204 Total held-to-maturity securities $ 14 $ 2,204 $ — $ — $ 14 $ 2,204
Investments Classified by Contractual Maturity Date	The following is a summary of the amortized cost and fair value of debt securities at September 30, 2022, by remaining period to contractual maturity (ignoring earlier call dates, if any). Actual maturities may differ from contractual maturities because certain security issuers have the right to call or prepay their obligations. The table below does not consider the effects of possible prepayments or unscheduled repayments. $ in thousands Amortized Cost Fair Value Weighted Available-for-Sale: Less than one year $ 101 $ 99 (0.85) % One through five years — — — % Five through ten years 6,344 5,965 3.23 % After ten years 27,399 21,035 2.67 % Mortgage-backed securities 34,917 27,942 1.53 % Total $ 68,761 $ 55,041 1.99 % Held-to-maturity: Mortgage-backed securities $ 2,511 $ 2,361 2.77 %

Loans Receivable and ALLL (Tabl

Loans Receivable and ALLL (Tables)	6 Months Ended
	Sep. 30, 2022
Loans and Leases Receivable Disclosure [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	The following is a summary of loans receivable at September 30, 2022 and March 31, 2022: September 30, 2022 March 31, 2022 $ in thousands Amount Percent Amount Percent Gross loans receivable: One-to-four family $ 66,302 11.6 % $ 69,297 12.0 % Multifamily 171,946 30.1 % 160,800 27.9 % Commercial real estate 172,341 30.2 % 174,270 30.2 % Business (1) 159,422 27.9 % 170,497 29.6 % Consumer (2) 1,409 0.2 % 1,623 0.3 % Total loans receivable $ 571,420 100.0 % $ 576,487 100.0 % Unamortized premiums, deferred costs and fees, net 2,989 3,017 Allowance for loan losses (5,509) (5,624) Total loans receivable, net $ 568,900 $ 573,880 (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 six month periods ended September 30, 2022 and 2021, and the fiscal year ended March 31, 2022. Three months ended September 30, 2022 $ in thousands One-to-four Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 649 $ 1,053 $ 1,108 $ 2,321 $ 113 $ 360 $ 5,604 Charge-offs — — — — (11) — (11) Recoveries 90 — 10 4 1 — 105 Provision for (recovery of) Loan Losses (35) 2 490 (511) (21) (114) (189) Ending Balance $ 704 $ 1,055 $ 1,608 $ 1,814 $ 82 $ 246 $ 5,509 Six months ended September 30, 2022 $ in thousands One-to-four Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 731 $ 1,114 $ 1,157 $ 2,497 $ 123 $ 2 $ 5,624 Charge-offs — — — — (24) — (24) Recoveries 90 — 10 23 2 — 125 Provision for (recovery of) Loan Losses (117) (59) 441 (706) (19) 244 (216) Ending Balance $ 704 $ 1,055 $ 1,608 $ 1,814 $ 82 $ 246 $ 5,509 Allowance for Loan Losses Ending Balance: collectively evaluated for impairment $ 603 $ 1,055 $ 1,014 $ 1,700 $ 82 $ 246 $ 4,700 Allowance for Loan Losses Ending Balance: individually evaluated for impairment 101 — 594 114 — — 809 Loan Receivables Ending Balance: $ 67,180 $ 173,169 $ 173,325 $ 159,312 $ 1,423 $ — $ 574,409 Ending Balance: collectively evaluated for impairment 61,798 173,169 163,870 153,008 1,423 — 553,268 Ending Balance: individually evaluated for impairment 5,382 — 9,455 6,304 — — 21,141 At March 31, 2022 $ in thousands One-to-four family Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for Loan Losses Ending Balance: collectively evaluated for impairment $ 731 $ 1,114 $ 1,157 $ 2,428 $ 123 $ 2 $ 5,555 Allowance for Loan Losses Ending Balance: individually evaluated for impairment — — — 69 — — 69 Loan Receivables Ending Balance: $ 70,261 $ 162,261 $ 175,313 $ 170,031 $ 1,638 $ — $ 579,504 Ending Balance: collectively evaluated for impairment 65,369 161,746 175,313 163,991 1,638 — 568,057 Ending Balance: individually evaluated for impairment 4,892 515 — 6,040 — — 11,447 Three months ended September 30, 2021 $ in thousands One-to-four Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1,086 $ 826 $ 870 $ 2,104 $ 144 $ 184 $ 5,214 Charge-offs — — — — (44) — (44) Recoveries — — — 1 12 128 141 Provision for (recovery of) Loan Losses (71) 88 132 1 25 29 204 Ending Balance $ 1,015 $ 914 $ 1,002 $ 2,106 $ 137 $ 341 $ 5,515 Six months ended September 30, 2021 $ in thousands One-to-four family Multifamily Commercial Real Estate Business Consumer Unallocated Total Allowance for loan losses: Beginning Balance $ 1,058 $ 880 $ 907 $ 1,855 $ 165 $ 275 $ 5,140 Charge-offs — — — — (99) — (99) Recoveries — — — 50 20 128 198 Provision for (recovery of) Loan Losses (43) 34 95 201 51 (62) 276 Ending Balance $ 1,015 $ 914 $ 1,002 $ 2,106 $ 137 $ 341 $ 5,515
Schedule Nonaccrual Loans	The following is a summary of nonaccrual loans at September 30, 2022 and March 31, 2022. $ in thousands September 30, 2022 March 31, 2022 Gross loans receivable: One-to-four family $ 4,371 $ 4,892 Multifamily — 515 Commercial real estate 9,455 4,601 Business 1,179 1,448 Consumer 87 25 Total nonaccrual loans $ 15,092 $ 11,481
Loans Receivable, Credit Quality Indicators	At September 30, 2022, 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 $ 171,570 $ 163,156 $ 145,602 Special Mention 776 714 6,179 Substandard 823 9,455 7,531 Total $ 173,169 $ 173,325 $ 159,312 One-to-four family Consumer Credit Risk Profile Based on Payment Activity: Performing $ 61,798 $ 1,423 Non-Performing 5,382 — Total $ 67,180 $ 1,423 At March 31, 2022, the risk category by class of loans was as follows: $ in thousands Multifamily Commercial Real Estate Business Credit Risk Profile by Internally Assigned Grade: Pass $ 155,274 $ 164,543 $ 155,196 Special Mention 897 8,157 6,302 Substandard 6,090 2,613 8,533 Total $ 162,261 $ 175,313 $ 170,031 One-to-four family Consumer Credit Risk Profile Based on Payment Activity: Performing $ 65,369 $ 1,613 Non-Performing 4,892 25 Total $ 70,261 $ 1,638
Past Due Financing Receivables	The following table presents an aging analysis of the recorded investment of past due loans receivables at September 30, 2022 and March 31, 2022. . September 30, 2022 $ in thousands 30-59 Days 60-89 Days 90 or More Days Past Due Total Past Current Total Loans One-to-four family $ — $ — $ 4,043 $ 4,043 $ 63,137 $ 67,180 Multifamily — — — — 173,169 173,169 Commercial real estate 4,522 — 4,933 9,455 163,870 173,325 Business — — 663 663 158,649 159,312 Consumer — 39 92 131 1,292 1,423 Total $ 4,522 $ 39 $ 9,731 $ 14,292 $ 560,117 $ 574,409 March 31, 2022 $ in thousands 30-59 Days 60-89 Days 90 or More Days Past Due Total Past Current Total Loans Receivables One-to-four family $ 1,943 $ — $ 5,229 $ 7,172 $ 63,089 $ 70,261 Multifamily 4,435 115 515 5,065 157,196 162,261 Commercial real estate 4,010 — 4,601 8,611 166,702 175,313 Business 923 40 664 1,627 168,404 170,031 Consumer 84 45 25 154 1,484 1,638 Total $ 11,395 $ 200 $ 11,034 $ 22,629 $ 556,875 $ 579,504
Impaired Loans	The following table presents information on impaired loans with the associated allowance amount, if applicable, at September 30, 2022 and March 31, 2022. At September 30, 2022 At March 31, 2022 $ in thousands Recorded Unpaid Associated Recorded Unpaid Associated With no specific allowance recorded: One-to-four family $ 4,342 $ 4,937 $ — $ 4,892 $ 5,576 $ — Multifamily — — — 515 515 — Commercial real estate 7,847 7,940 — — — — Business 1,179 1,222 — 837 909 — With an allowance recorded: One-to-four family 1,040 1,039 101 — — — Commercial real estate 1,608 1,608 594 — — — Business 5,125 5,125 114 5,203 5,203 69 Total $ 21,141 $ 21,871 $ 809 $ 11,447 $ 12,203 $ 69 The following tables presents information on average balances of impaired loans and the interest income recognized on a cash basis for the three and six month periods ended September 30, 2022 and 2021. For the Three Months Ended September 30, For the Six Months Ended September 30, 2022 2021 2022 2021 $ in thousands Average Balance Interest Income Recognized Average Balance Interest Income Recognized Average Balance Interest Income Recognized Average Balance Interest Income Recognized With no specific allowance recorded: One-to-four family $ 4,772 $ 9 $ 3,735 $ 3 $ 4,617 $ 41 $ 3,728 $ 6 Multifamily 55 — 625 — 257 3 883 — Commercial real estate 7,008 39 555 — 3,923 82 192 — Business 1,207 17 2,245 — 1,008 26 2,199 — With an allowance recorded: One-to-four family 742 9 75 — 520 23 74 1 Commercial real estate 804 — — — 804 — — — Business 5,144 71 5,383 73 5,164 143 5,363 149 Total $ 19,732 $ 145 $ 12,618 $ 76 $ 16,293 $ 318 $ 12,439 $ 156
Troubled Debt Restructuring	The following table presents an analysis of the loan modifications that were classified as TDRs during the three and six months ended September 30, 2022. Loan Modifications for the six months ended September 30, 2022 $ in thousands Number of loans Recorded investment One-to-four family 2 $ 1,047

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and March 31, 2022, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates: Fair Value Measurements at September 30, 2022, Using $ in thousands Quoted Prices in Active Markets for Identical Assets Significant Other Significant Total Fair Mortgage servicing rights $ — $ — $ 157 $ 157 Investment securities Available-for-sale: Mortgage-backed securities: Government National Mortgage Association — 375 — 375 Federal Home Loan Mortgage Corporation — 17,957 — 17,957 Federal National Mortgage Association — 9,610 — 9,610 U.S. Government Agency securities — 10,719 — 10,719 Corporate bonds — 2,973 — 2,973 Muni securities — 13,308 — 13,308 Asset-backed securities — 99 — 99 Total available-for-sale securities — 55,041 — 55,041 Total assets $ — $ 55,041 $ 157 $ 55,198 Fair Value Measurements at March 31, 2022, Using $ in thousands Quoted Prices in Significant Other Significant Total Fair Mortgage servicing rights $ — $ — $ 162 $ 162 Investment securities Available-for-sale: Mortgage-backed securities: Government National Mortgage Association — 448 — 448 Federal Home Loan Mortgage Corporation — 21,547 — 21,547 Federal National Mortgage Association — 11,584 — 11,584 U.S. Government Agency securities — 13,785 — 13,785 Corporate bonds — 4,121 — 4,121 Muni securities — 15,768 — 15,768 Asset-backed securities — 343 — 343 Total available-for-sale securities — 67,596 — 67,596 Total assets $ — $ 67,596 $ 162 $ 67,758
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 six months ended September 30, 2022 and 2021: $ in thousands Beginning balance, Total Realized/Unrealized Gains/(Losses) Recorded in Income (1) Issuances / (Settlements) Transfers to/(from) Level 3 Ending balance, September 30, 2022 Change in Unrealized Gains/(Losses) Related to Instruments Held at September 30, 2022 Mortgage servicing rights 162 (5) — — 157 (5) $ in thousands Beginning balance, Total Realized/Unrealized Gains/(Losses) Recorded in Income (1) Issuances / (Settlements) Transfers to/(from) Level 3 Ending balance, September 30, 2021 Change in Unrealized Gains/(Losses) Related to Instruments Held at September 30, 2021 Mortgage servicing rights 147 4 — — 151 4
Fair Value, Assets Measured on Recurring Basis, Valuation Techniques	For Level 3 assets measured at fair value on a recurring basis as of September 30, 2022 and March 31, 2022, the significant unobservable inputs used in the fair value measurements were as follows: $ in thousands Fair Value September 30, 2022 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Mortgage servicing rights 157 Discounted Cash Flow Weighted Average Constant Prepayment Rate (1) 4.07 % Option Adjusted Spread ("OAS") applied to Treasury curve 1000 basis points $ in thousands Fair Value March 31, 2022 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Mortgage servicing rights 162 Discounted Cash Flow Weighted Average Constant Prepayment Rate (1) 6.70 % Option Adjusted Spread ("OAS" applied to Treasury curve 1000 basis points (1) Represents annualized loan repayment rate assumptions
Fair Value Measurements, Nonrecurring	The following table presents assets and liabilities that were measured at fair value on a non-recurring basis as of September 30, 2022 and March 31, 2022, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates: Fair Value Measurements at September 30, 2022 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 $ — $ — $ 6,964 $ 6,964 Other real estate owned — — 60 $ 60 Fair Value Measurements at March 31, 2022, 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 $ — $ — $ 5,334 $ 5,334 Other real estate owned — — 60 $ 60
Fair Value, Assets Measured on Nonrecurring Basis, Valuation Techniques	For Level 3 assets measured at fair value on a non-recurring basis as of September 30, 2022 and March 31, 2022, the significant unobservable inputs used in the fair value measurements were as follows: $ in thousands Fair Value September 30, 2022 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Impaired loans $ 6,964 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, 2022 Valuation Technique Significant Unobservable Inputs Significant Unobservable Input Value Impaired loans $ 5,334 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

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and March 31, 2022 are as follows: September 30, 2022 $ 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 $ 95,545 $ 95,545 $ 95,545 $ — $ — Securities available-for-sale 55,041 55,041 — 55,041 — Securities held-to-maturity 2,511 2,361 — 2,361 — Loans receivable 568,900 533,604 — — 533,604 Accrued interest receivable 1,844 1,844 — 1,844 — Mortgage servicing rights 157 157 — — 157 Financial Liabilities: Deposits $ 626,370 $ 620,393 $ 479,086 $ 141,307 $ — Advances from FHLB of New York 40,000 39,976 — 39,976 — Other borrowed money 15,903 14,546 — 14,546 — Accrued interest payable 353 353 — 353 — March 31, 2022 $ 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 $ 61,018 $ 61,018 $ 61,018 $ — $ — Securities available-for-sale 67,596 67,596 — 67,596 — Securities held-to-maturity 5,254 5,276 — 5,276 — Loans receivable 573,880 563,821 — — 563,821 Accrued interest receivable 2,414 2,414 — 2,414 — Mortgage servicing rights 162 162 — — 162 Financial Liabilities: Deposits $ 628,117 $ 624,160 $ 485,884 $ 138,276 $ — Other borrowed money 15,906 15,673 — 15,673 — Accrued interest payable 91 91 — 91 —

Non-interest Revenue and Expe_2

Non-interest Revenue and Expense (Tables)	6 Months Ended
	Sep. 30, 2022
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 six months ended September 30, 2022 and 2021: Three Months Ended September 30, Six Months Ended September 30, $ in thousands 2022 2021 2022 2021 Non-interest income In-scope of Topic 606 Depository fees and charges $ 553 $ 592 $ 1,108 $ 1,195 Loan fees and service charges 132 41 248 139 Other non-interest income 152 636 162 1,511 Non-interest income (in-scope of Topic 606) 837 1,269 1,518 2,845 Non-interest income (out-of-scope of Topic 606) 262 1,895 290 1,960 Total non-interest income $ 1,099 $ 3,164 $ 1,808 $ 4,805
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 September 30, Six Months Ended September 30, $ in thousands 2022 2021 2022 2021 Other non-interest income: Correspondent banking fees $ 143 $ 624 143 1,489 Other 103 19 138 90 Total non-interest income $ 246 $ 643 $ 281 $ 1,579 Other non-interest expense: Advertising $ 111 $ 180 $ 264 $ 279 Legal expense 112 248 183 327 Insurance and surety 289 179 585 378 Audit expense 148 137 299 248 Data lines / internet 99 104 194 213 Security services 75 59 149 107 Retail expenses 250 245 467 488 Loss contingency 23 (101) 34 2,016 Director's fees 123 71 246 142 Other 612 592 1,179 1,176 Total non-interest expense $ 1,842 $ 1,714 $ 3,600 $ 5,374

Leases (Tables)

Leases (Tables)	6 Months Ended
	Sep. 30, 2022
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 six months ended September 30, 2022: September 30, 2022 Weighted-average remaining lease term Operating leases 5.7 years Finance lease 2.6 years Weighted-average discount rate Operating leases 3.03 % Finance lease 2.74 % Three Months Ended September 30, Six Months Ended September 30, $ in thousands 2022 2021 2022 2021 Operating lease expense $ 716 $ 726 $ 1,432 $ 1,438 Finance lease cost Amortization of right-of use asset 15 18 32 35 Interest on lease liability 1 1 2 1 Cash paid for amounts included in the measurement of lease liabilities Operating leases 696 694 1,392 1,380 Finance lease 19 12 38 36
Lessee, Lease Liability, Maturity	Maturities of lease liabilities at September 30, 2022 are as follows: $ in thousands Operating Leases Finance Leases Year ending March 31, 2023 $ 1,382 $ 38 2024 2,921 41 2025 2,705 18 2026 2,687 16 2027 2,441 5 Thereafter 3,535 — Total lease payments 15,671 118 Interest (1,325) (3) Lease liability $ 14,346 $ 115

Organization Text Tags (Details

Organization Text Tags (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Sep. 30, 2022	Mar. 31, 2003	Mar. 31, 2022	Sep. 17, 2003	Oct. 24, 1994
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common Stock, Shares Issued (in shares)	6,797,612		6,720,618		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		$ 13,000
Proceeds from (Payments for) Other Financing Activities		400
Payments for Repurchase of Trust Preferred Securities		$ 13,400
Debt Instrument, Basis Spread on Variable Rate	3.05%
Debt Instrument, Interest Rate During Period	6.58%
Interest Payable	$ 29

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net (loss) income	$ (955)	$ 1,084	$ (1,812)	$ (1,672)
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	0	399	0	0
Net Income (Loss) Available to Common Stockholders, Basic	$ (955)	$ 685	$ (1,812)	$ (1,672)
Weighted average common shares outstanding - basic (in shares)	4,291,672	3,498,861	4,260,178	3,440,827
Weighted Average Number Diluted Shares Outstanding Adjustment	0	2,014,952	0	0
Weighted average common shares outstanding - diluted (in shares)	4,291,672	5,513,813	4,260,178	3,440,827
Earnings (loss) per Share, Basic (in dollars per share)	$ (0.22)	$ 0.20	$ (0.43)	$ (0.49)
Earnings (loss) per Share, Diluted (in dollars per share)	$ (0.22)	$ 0.19	$ (0.43)	$ (0.49)

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		12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2011	Mar. 31, 2021	Sep. 30, 2022	Mar. 31, 2022	Sep. 27, 2021	Feb. 16, 2021	Feb. 01, 2021	Oct. 15, 2020	Oct. 28, 2011
Dividends [Abstract]
Stock Issued During Period, Shares, Other							2,321,286
Conversion of Stock, Shares Converted					13,519		1,208,039
Convertible Preferred Stock, Shares Outstanding (in shares)															45,118
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	397,367
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	397,367
Proceeds from Issuance of Private Placement		$ 4,000	$ 4,400					$ 6,000
Issuance of common stock						$ 3,000
Common Stock
Dividends [Abstract]
Stock Issued During Period, Shares, New Issues			157,806	147,227				112,612
Sale of Stock, Price Per Share												$ 8.88	$ 7.75	$ 6.62
Class of Stock [Line Items]
Stock Repurchased and Retired During Period, Shares								180,573
Stock Issued During Period, Shares, New Issues			157,806	147,227				112,612
Sale of Stock, Price Per Share												8.88	7.75	$ 6.62
Series F Preferred Stock
Dividends [Abstract]
Convertible Preferred Stock, Shares Outstanding (in shares)									9,000	9,000
Stock Issued During Period, Shares, New Issues		4,000	5,000
Sale of Stock, Price Per Share											$ 1,000	1,000
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		4,000	5,000
Sale of Stock, Price Per Share											$ 1,000	$ 1,000
Series D Preferred Stock
Dividends [Abstract]
Convertible Preferred Stock, Shares Outstanding (in shares)									13,201	13,751
Class of Stock [Line Items]
Stock Repurchased and Retired During Period, Shares								13,523
Series E Preferred Stock
Dividends [Abstract]
Convertible Preferred Stock, Shares Outstanding (in shares)									3,177	3,177
Stock Issued During Period, Shares, New Issues			3,177
Sale of Stock, Price Per Share													1,000
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues			3,177
Sale of Stock, Price Per Share													$ 1,000

Components of Accumulated Other

Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Accumulated Other Comprehensive Loss, Available-for-sale Securities Adjustment, Net of Tax			$ (6,662)	$ (3,175)
Other comprehensive loss, net of taxes	$ (3,444)	$ (628)	(7,058)	1,491
Accumulated Other Comprehensive Loss, Available-for-sale Securities Adjustment, Net of Tax	$ (13,720)	$ (1,684)	$ (13,720)	$ (1,684)

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) (Details) Text Tags - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	$ 0	$ 0

Investment Securities Text Tags

Investment Securities Text Tags (Details) - USD ($)	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2022
Schedule of Investments [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions	25
Proceeds from Sale of Debt Securities, Available-for-sale	$ 0	$ 0
Debt Securities, Available-for-sale	$ 55,041,000		$ 67,596,000
Percentage Available-for-sale Securities	95.60%
Debt Securities, Held-to-maturity	$ 2,511,000		5,254,000
Percentage Held-to-maturity Securities	4.40%
Trading	$ 0		0
Mortgage-backed securities
Schedule of Investments [Line Items]
Percentage Available-for-Sale, Continuos Unrealized Loss Position	50.50%
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions	5
Debt Securities, Available-for-sale	$ 27,942,000		33,579,000
US Government Agency Securities
Schedule of Investments [Line Items]
Percentage Available-for-Sale, Continuos Unrealized Loss Position	19.60%
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions	2
Debt Securities, Available-for-sale	$ 10,719,000		13,785,000
Municipal Securities
Schedule of Investments [Line Items]
Percentage Available-for-Sale, Continuos Unrealized Loss Position	24.30%
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions	4
Debt Securities, Available-for-sale	$ 13,308,000		15,768,000
Corporate Bonds
Schedule of Investments [Line Items]
Percentage Available-for-Sale, Continuos Unrealized Loss Position	5.40%
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions	1
Debt Securities, Available-for-sale	$ 2,973,000		$ 4,121,000

Investment Securities-Unrealize

Investment Securities-Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	$ 68,761	$ 74,258
Available-for-sale, Gross Unrealized Gains	1	9
Available-for-sale, Gross Unrealized Losses	13,721	6,671
Available-for-sale	55,041	67,596
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Total	2,511	5,254
Held-to-maturity, Gross Unrealized Gains	0	36
Held-to-maturity, Gross Unrealized Losses	150	14
Held-to-maturity, Fair Value	2,361	5,276
Government National Mortgage Association (GNMA)
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	375	439
Available-for-sale, Gross Unrealized Gains	1	9
Available-for-sale, Gross Unrealized Losses	1	0
Available-for-sale	375	448
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Total	399	481
Held-to-maturity, Gross Unrealized Gains	0	27
Held-to-maturity, Gross Unrealized Losses	11	0
Held-to-maturity, Fair Value	388	508
Federal Home Loan Mortgage Corporation (FHLMC)
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	22,448	23,744
Available-for-sale, Gross Unrealized Gains	0	0
Available-for-sale, Gross Unrealized Losses	4,491	2,197
Available-for-sale	17,957	21,547
Federal National Mortgage Association (FNMA)
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	12,094	12,852
Available-for-sale, Gross Unrealized Gains	0	0
Available-for-sale, Gross Unrealized Losses	2,484	1,268
Available-for-sale	9,610	11,584
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Total	2,112	4,773
Held-to-maturity, Gross Unrealized Gains	0	9
Held-to-maturity, Gross Unrealized Losses	139	14
Held-to-maturity, Fair Value	1,973	4,768
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	34,917	37,035
Available-for-sale, Gross Unrealized Gains	1	9
Available-for-sale, Gross Unrealized Losses	6,976	3,465
Available-for-sale	27,942	33,579
US Government Agency Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	10,743	13,864
Available-for-sale, Gross Unrealized Gains	0	0
Available-for-sale, Gross Unrealized Losses	24	79
Available-for-sale	10,719	13,785
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	5,270	5,271
Available-for-sale, Gross Unrealized Gains	0	0
Available-for-sale, Gross Unrealized Losses	2,297	1,150
Available-for-sale	2,973	4,121
Municipal Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	17,730	17,741
Available-for-sale, Gross Unrealized Gains	0	0
Available-for-sale, Gross Unrealized Losses	4,422	1,973
Available-for-sale	13,308	15,768
Asset-backed Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale, Amortized Cost	101	347
Available-for-sale, Gross Unrealized Gains	0	0
Available-for-sale, Gross Unrealized Losses	2	4
Available-for-sale	$ 99	$ 343

Investment Securities-Schedule

Investment Securities-Schedule of Unrealized Loss (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 1,138	$ 2,163
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	10,049	20,912
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	12,583	4,508
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	44,666	46,290
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	13,721	6,671
Debt Securities, Available-for-sale, Unrealized Loss Position	54,715	67,202
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	150	14
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value	2,324	2,204
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0	0
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value	0	0
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss	150	14
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value	2,324	2,204
Mortgage-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	45	519
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	1,272	7,057
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	6,931	2,946
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	26,344	26,128
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	6,976	3,465
Debt Securities, Available-for-sale, Unrealized Loss Position	27,616	33,185
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	150	14
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value	2,324	2,204
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0	0
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value	0	0
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss	150	14
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value	2,324	2,204
US Government Agency Securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	4	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	4,573	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	20	79
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	6,146	13,785
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	24	79
Debt Securities, Available-for-sale, Unrealized Loss Position	10,719	13,785
Corporate Bonds
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	0	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	2,297	1,150
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	2,973	4,121
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	2,297	1,150
Debt Securities, Available-for-sale, Unrealized Loss Position	2,973	4,121
Municipal Securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	1,087	1,640
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	4,105	13,512
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	3,335	333
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	9,203	2,256
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	4,422	1,973
Debt Securities, Available-for-sale, Unrealized Loss Position	13,308	15,768
Asset-backed Securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	2	4
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	99	343
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	0	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	2	4
Debt Securities, Available-for-sale, Unrealized Loss Position	$ 99	$ 343

Investment Securities-Investmen

Investment Securities-Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost	$ 101
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost	0
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost	6,344
Debt Securities, Available-for-sale, Allocated and Single Maturity Date, Maturity, after 10 Years, Amortized Cost	27,399
Debt Securities, Available-for-sale, Amortized Cost	68,761	$ 74,258
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value	99
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value	0
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value	5,965
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value	21,035
Available-for-sale	$ 55,041	67,596
Available-for-Sale Securities, Debt Maturities, Weighted Average Yield
Available-for-sale, Securities, Debt Maturities, within One Year, Weighted Average Rate	(0.85%)
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Weighted Average Rate	0%
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Weighted Average Rate	3.23%
Available-for-sale Securities, Debt Maturities, after Ten Years, Weighted Average Rate	2.67%
Available-for-sale Securities, Debt Maturities, Weighted Average Rate	1.99%
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount
Held-to-maturity	$ 2,511	5,254
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity
Held-to-maturity, Fair Value	$ 2,361	$ 5,276

Loans Receivable and ALLL (Deta

Loans Receivable and ALLL (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross		$ 571,420		$ 576,487
Unamortized premiums, deferred costs and fees, net		2,989		3,017
Allowance for loan and lease losses		(5,509)	$ (5,604)	(5,624)	$ (5,515)	$ (5,214)	$ (5,140)
Total loans receivable, net		$ 568,900		$ 573,880
Percentage of Loan Type		100%		100%
One-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross		$ 66,302		$ 69,297
Allowance for loan and lease losses		$ (704)	(649)	$ (731)	(1,015)	(1,086)	(1,058)
Percentage of Loan Type		11.60%		12%
Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross		$ 171,946		$ 160,800
Allowance for loan and lease losses		$ (1,055)	(1,053)	$ (1,114)	(914)	(826)	(880)
Percentage of Loan Type		30.10%		27.90%
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross		$ 172,341		$ 174,270
Allowance for loan and lease losses		$ (1,608)	(1,108)	$ (1,157)	(1,002)	(870)	(907)
Percentage of Loan Type		30.20%		30.20%
Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross	[1]	$ 159,422		$ 170,497
Allowance for loan and lease losses		$ (1,814)	(2,321)	$ (2,497)	(2,106)	(2,104)	(1,855)
Percentage of Loan Type	[1]	27.90%		29.60%
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, before Fees, Gross	[2]	$ 1,409		$ 1,623
Allowance for loan and lease losses		$ (82)	$ (113)	$ (123)	$ (137)	$ (144)	$ (165)
Percentage of Loan Type	[2]	0.20%		0.30%
[1] (1) Includes PPP loans and business overdrafts

Allowance for Loan Losses (Deta

Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	$ 5,604	$ 5,214	$ 5,624	$ 5,140
Charge-offs	(11)	(44)	(24)	(99)
Recoveries	105	141	125	198
Provision for loan losses	(189)	204	(216)	276
Allowance for loan losses - Ending Balance	5,509	5,515	5,509	5,515
Allowance for Loan Losses, Collectively Evaluated for Impairment	4,700		4,700		$ 5,555
Allowance for Loan Losses, Individually Evaluated for Impairment	809		809		69
Loans, gross	574,409		574,409		579,504
Loans Receivable, Collectively Evaluated for Impairment	553,268		553,268		568,057
Loans Receivable, Individually Evaluated for Impairment	21,141		21,141		11,447
One-to-four family
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	649	1,086	731	1,058
Charge-offs	0	0	0	0
Recoveries	90	0	90	0
Provision for loan losses	(35)	(71)	(117)	(43)
Allowance for loan losses - Ending Balance	704	1,015	704	1,015
Allowance for Loan Losses, Collectively Evaluated for Impairment	603		603		731
Allowance for Loan Losses, Individually Evaluated for Impairment	101		101		0
Loans, gross	67,180		67,180		70,261
Loans Receivable, Collectively Evaluated for Impairment	61,798		61,798		65,369
Loans Receivable, Individually Evaluated for Impairment	5,382		5,382		4,892
Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	1,053	826	1,114	880
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for loan losses	2	88	(59)	34
Allowance for loan losses - Ending Balance	1,055	914	1,055	914
Allowance for Loan Losses, Collectively Evaluated for Impairment	1,055		1,055		1,114
Allowance for Loan Losses, Individually Evaluated for Impairment	0		0		0
Loans, gross	173,169		173,169		162,261
Loans Receivable, Collectively Evaluated for Impairment	173,169		173,169		161,746
Loans Receivable, Individually Evaluated for Impairment	0		0		515
Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	1,108	870	1,157	907
Charge-offs	0	0	0	0
Recoveries	10	0	10	0
Provision for loan losses	490	132	441	95
Allowance for loan losses - Ending Balance	1,608	1,002	1,608	1,002
Allowance for Loan Losses, Collectively Evaluated for Impairment	1,014		1,014		1,157
Allowance for Loan Losses, Individually Evaluated for Impairment	594		594		0
Loans, gross	173,325		173,325		175,313
Loans Receivable, Collectively Evaluated for Impairment	163,870		163,870		175,313
Loans Receivable, Individually Evaluated for Impairment	9,455		9,455		0
Business
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	2,321	2,104	2,497	1,855
Charge-offs	0	0	0	0
Recoveries	4	1	23	50
Provision for loan losses	(511)	1	(706)	201
Allowance for loan losses - Ending Balance	1,814	2,106	1,814	2,106
Allowance for Loan Losses, Collectively Evaluated for Impairment	1,700		1,700		2,428
Allowance for Loan Losses, Individually Evaluated for Impairment	114		114		69
Loans, gross	159,312		159,312		170,031
Loans Receivable, Collectively Evaluated for Impairment	153,008		153,008		163,991
Loans Receivable, Individually Evaluated for Impairment	6,304		6,304		6,040
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	113	144	123	165
Charge-offs	(11)	(44)	(24)	(99)
Recoveries	1	12	2	20
Provision for loan losses	(21)	25	(19)	51
Allowance for loan losses - Ending Balance	82	137	82	137
Allowance for Loan Losses, Collectively Evaluated for Impairment	82		82		123
Allowance for Loan Losses, Individually Evaluated for Impairment	0		0		0
Loans, gross	1,423		1,423		1,638
Loans Receivable, Collectively Evaluated for Impairment	1,423		1,423		1,638
Loans Receivable, Individually Evaluated for Impairment	0		0		0
Unallocated
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses - Beginning Balance	360	184	2	275
Charge-offs	0	0	0	0
Recoveries	0	128	0	128
Provision for loan losses	(114)	29	244	(62)
Allowance for loan losses - Ending Balance	246	$ 341	246	$ 341
Allowance for Loan Losses, Collectively Evaluated for Impairment	246		246		2
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	Sep. 30, 2022	Mar. 31, 2022
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	$ 15,092	$ 11,481
One-to-four family
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	4,371	4,892
Multifamily
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	0	515
Commercial real estate
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	9,455	4,601
Business
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	1,179	1,448
Consumer
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual	$ 87	$ 25

Credit Quality Indicators (Deta

Credit Quality Indicators (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	$ 574,409	$ 579,504
Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	173,169	162,261
Multifamily | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	171,570	155,274
Multifamily | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	776	897
Multifamily | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	823	6,090
Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	173,325	175,313
Commercial real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	163,156	164,543
Commercial real estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	714	8,157
Commercial real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	9,455	2,613
Business
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	159,312	170,031
Business | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	145,602	155,196
Business | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	6,179	6,302
Business | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	7,531	8,533
One-to-four family
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	67,180	70,261
One-to-four family | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	61,798	65,369
One-to-four family | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	5,382	4,892
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	1,423	1,638
Consumer | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	1,423	1,613
Consumer | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, gross	$ 0	$ 25

Past Due Financing Receivables

Past Due Financing Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Financing Receivable, Past Due [Line Items]
Loans, gross	$ 574,409	$ 579,504
Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	4,522	11,395
Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	39	200
Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	9,731	11,034
Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	14,292	22,629
Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	560,117	556,875
One-to-four family
Financing Receivable, Past Due [Line Items]
Loans, gross	67,180	70,261
One-to-four family | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	0	1,943
One-to-four family | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	0	0
One-to-four family | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	4,043	5,229
One-to-four family | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	4,043	7,172
One-to-four family | Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	63,137	63,089
Multifamily
Financing Receivable, Past Due [Line Items]
Loans, gross	173,169	162,261
Multifamily | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	0	4,435
Multifamily | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	0	115
Multifamily | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	0	515
Multifamily | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	0	5,065
Multifamily | Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	173,169	157,196
Commercial real estate
Financing Receivable, Past Due [Line Items]
Loans, gross	173,325	175,313
Commercial real estate | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	4,522	4,010
Commercial real estate | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	0	0
Commercial real estate | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	4,933	4,601
Commercial real estate | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	9,455	8,611
Commercial real estate | Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	163,870	166,702
Business
Financing Receivable, Past Due [Line Items]
Loans, gross	159,312	170,031
Business | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	0	923
Business | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	0	40
Business | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	663	664
Business | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	663	1,627
Business | Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	158,649	168,404
Consumer
Financing Receivable, Past Due [Line Items]
Loans, gross	1,423	1,638
Consumer | Financing Receivables, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	0	84
Consumer | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	39	45
Consumer | Financing Receivables, Equal to Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	92	25
Consumer | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	131	154
Consumer | Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 1,292	$ 1,484

Impaired Loans (Details)

Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2022
Impaired Financing Receivable, Recorded Investment [Abstract]
Impaired Financing Receivable, Recorded Investment	$ 21,141		$ 21,141		$ 11,447
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	21,871		21,871		12,203
Impaired Financing Receivable, Related Allowance	809		809		69
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, Average Recorded Investment	19,732	$ 12,618	16,293	$ 12,439
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, Interest Income, Cash Basis Method	145	76	318	156
One-to-four family
Impaired Financing Receivable, Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	4,342		4,342		4,892
Impaired Financing Receivable, with Related Allowance, Recorded Investment	1,040		1,040		0
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	4,937		4,937		5,576
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	1,039		1,039		0
Impaired Financing Receivable, Related Allowance	101		101		0
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment	4,772	3,735	4,617	3,728
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	742	75	520	74
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method	9	3	41	6
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method	9	0	23	1
Multifamily
Impaired Financing Receivable, Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	0		0		515
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	0		0		515
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment	55	625	257	883
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method	0	0	3	0
Commercial real estate
Impaired Financing Receivable, Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	7,847		7,847		0
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	7,940		7,940		0
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment	7,008	555	3,923	192
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method	39	0	82	0
Business
Impaired Financing Receivable, Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	1,179		1,179		837
Impaired Financing Receivable, with Related Allowance, Recorded Investment	5,125		5,125		5,203
Impaired Financing Receivable, Unpaid Principal Balance [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	1,222		1,222		909
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	5,125		5,125		5,203
Impaired Financing Receivable, Related Allowance	114		114		$ 69
Impaired Financing Receivable, Average Recorded Investment [Abstract]
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment	1,207	2,245	1,008	2,199
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	5,144	5,383	5,164	5,363
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract]
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method	17	0	26	0
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method	$ 71	$ 73	$ 143	$ 149

Troubled Debt Restructurings (D

Troubled Debt Restructurings (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2022 USD ($)	Sep. 30, 2021
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts	0	2	0
Financing Receivable, Troubled Debt Restructuring		$ 1,047

Loans Receivable and ALLL Text

Loans Receivable and ALLL Text Tags (Details) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)
Loans and Leases Receivable Disclosure [Abstract]
Number of Loans Originated Under the Paycheck Protection Program				420
Loans Originated Under the Paycheck Protection Program, Amount				$ 57,100
Financing Receivable, Number of Principal and Interest Payment Deferrals					83
Financing Receivable, Principal and Interest Deferred Payments					$ 90,400
Other Real Estate Owned	$ 60	$ 60		$ 60
Number of Real Estate Properties	1	1		1
Financing Receivable, Held-for-Sale	$ 0	$ 0		$ 0
Number of Modified Loan Subsequently Defaulted		0	0
Loans and Leases Receivable, Related Parties	$ 30	$ 30
Loans and Leases Receivable, Related Parties, Proceeds		$ 0
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts	0	2	0
Financing Receivable, Troubled Debt Restructuring	$ 7,200	$ 7,200		6,900
Nonperforming
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Troubled Debt Restructuring	1,000	$ 1,000		$ 1,700
Performing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modifications, Number of Contracts		4		2
Financing Receivable, Troubled Debt Restructuring	$ 6,200	$ 6,200		$ 5,200

Fair Value, Assets Measured on

Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	$ 157	$ 162
Securities Available-for-Sale	55,041	67,596
Assets, Fair Value Disclosure	55,198	67,758
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	375	448
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	17,957	21,547
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	9,610	11,584
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	10,719	13,785
Fair Value, Measurements, Recurring | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	2,973	4,121
Fair Value, Measurements, Recurring | Municipal Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	13,308	15,768
Fair Value, Measurements, Recurring | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities Available-for-Sale	99	343
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	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	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	55,041	67,596
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	55,041	67,596
Assets, Fair Value Disclosure	55,041	67,596
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	375	448
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	17,957	21,547
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	9,610	11,584
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	10,719	13,785
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	2,973	4,121
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	13,308	15,768
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	99	343
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights	157	162
Securities Available-for-Sale	0	0
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	157	162
Securities Available-for-Sale	0	0
Assets, Fair Value Disclosure	157	162
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	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	$ 0

Fair Value Measurements Text Ta

Fair Value Measurements Text Tag (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)
Fair Value Disclosures [Abstract]
Percent of Total Assets Level 3	0.02%
Transfers between level 1 and level 2	0
Mortgage Loans in Process of Foreclosure, Amount	$ 5,300	$ 3,100

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 ($)	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ (5,000)	$ 4,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value - Beginning	162,000	147,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(5,000)	4,000
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	$ 157,000	$ 151,000

Fair Value, Assets Measured o_3

Fair Value, Assets Measured on Recurring Basis, Valuation Techniques (Details) $ in Thousands	Sep. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)
Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights	$ 157	$ 162
Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights	157	162
Fair Value, Measurements, Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights	157	162
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage servicing rights	157	162
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	$ 157	$ 162	$ 151	$ 147
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]
Servicing Asset, Measurement Input	0.0407	0.0670

Fair Value Measurements, Nonrec

Fair Value Measurements, Nonrecurring (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Real Estate Owned	$ 60	$ 60
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	6,964	5,334
Other Real Estate Owned	60	60
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, Assets Measured o_4

Fair Value, Assets Measured on Nonrecurring Basis, Valuation Techniques (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other Real Estate Owned	$ 60	$ 60
Fair Value, Measurements, Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	6,964	5,334
Other Real Estate Owned	60	60
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3 | Valuation, Market Approach
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired Financing Receivable, with Related Allowance, Recorded Investment	6,964	5,334
Other Real Estate Owned	$ 60	$ 60

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Financial Assets:
Held-to-maturity, Fair Value	$ 2,361	$ 5,276
Fair Value, Inputs, Level 1
Financial Assets:
Cash and cash equivalents	95,545	61,018
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
Financial Liabilities:
Deposits	479,086	485,884
Advances from FHLB of New York	0
Other borrowed money	0	0
Accrued interest payable	0	0
Fair Value, Inputs, Level 2
Financial Assets:
Cash and cash equivalents	0	0
Securities Available-for-Sale	55,041	67,596
Held-to-maturity, Fair Value	2,361	5,276
Loans Receivable	0	0
Accrued interest receivable	1,844	2,414
Mortgage servicing rights	0	0
Financial Liabilities:
Deposits	141,307	138,276
Advances from FHLB of New York	39,976
Other borrowed money	14,546	15,673
Accrued interest payable	353	91
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	533,604	563,821
Accrued interest receivable	0	0
Mortgage servicing rights	157	162
Financial Liabilities:
Deposits	0	0
Advances from FHLB of New York	0
Other borrowed money	0	0
Accrued interest payable	0	0
Reported Value Measurement
Financial Assets:
Cash and cash equivalents	95,545	61,018
Securities Available-for-Sale	55,041	67,596
Held-to-maturity, Fair Value	2,511	5,254
Loans Receivable	568,900	573,880
Accrued interest receivable	1,844	2,414
Financial Liabilities:
Deposits	626,370	628,117
Advances from FHLB of New York	40,000
Other borrowed money	15,903	15,906
Accrued interest payable	353	91
Estimate of Fair Value Measurement
Financial Assets:
Cash and cash equivalents	95,545	61,018
Securities Available-for-Sale	55,041	67,596
Held-to-maturity, Fair Value	2,361	5,276
Loans Receivable	533,604	563,821
Accrued interest receivable	1,844	2,414
Mortgage servicing rights	157	162
Financial Liabilities:
Deposits	620,393	624,160
Advances from FHLB of New York	39,976
Other borrowed money	14,546	15,673
Accrued interest payable	$ 353	$ 91

Non-interest Revenue (Details)

Non-interest Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 837	$ 1,269	$ 1,518	$ 2,845
Revenue Not from Contract with Customer	262	1,895	290	1,960
Noninterest income	1,099	3,164	1,808	4,805
Depository fees and charges
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	553	592	1,108	1,195
Loan fees and service charges
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	132	41	248	139
Other noninterest income
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer	$ 152	$ 636	$ 162	$ 1,511

Other Non-interest Revenue and

Other Non-interest Revenue and Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Noninterest Income, Other [Abstract]
Correspondent banking fees	$ 143	$ 624	$ 143	$ 1,489
Other	103	19	138	90
Total non-interest income	246	643	281	1,579
Non-interest expense:
Advertising	111	180	264	279
Legal expense	112	248	183	327
Insurance and surety	289	179	585	378
Audit expense	148	137	299	248
Data lines / internet	99	104	194	213
Security services	75	59	149	107
Retail expenses	250	245	467	488
Loss contingency	23	(101)	34	2,016
Director's fees	123	71	246	142
Other	612	592	1,179	1,176
Total non-interest expense	$ 1,842	$ 1,714	$ 3,600	$ 5,374

Leases Text Tags (Details)

Leases Text Tags (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Leases [Abstract]
Right-of-use assets	$ 13,524	$ 13,637
Operating lease liability	14,346	$ 14,393
Finance Lease, Right-of-Use Asset	125
Finance Lease, Liability	$ 115

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	5 years 8 months 12 days		5 years 8 months 12 days
Finance Lease, Weighted Average Remaining Lease Term	2 years 7 months 6 days		2 years 7 months 6 days
Operating Lease, Weighted Average Discount Rate, Percent	3.03%		3.03%
Finance Lease, Weighted Average Discount Rate, Percent	2.74%		2.74%
Operating Lease, Expense	$ 716	$ 726	$ 1,432	$ 1,438
Finance Lease, Right-of-Use Asset, Amortization	15	18	32	35
Finance Lease, Interest Expense	1	1	2	1
Operating Lease, Payments	696	694	1,392	1,380
Finance Lease, Payments	$ 19	$ 12	$ 38	$ 36

Leases-Lease Liability, Maturit

Leases-Lease Liability, Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	$ 1,382
Lessee, Operating Lease, Liability, Payments, Due Year Two	2,921
Lessee, Operating Lease, Liability, Payments, Due Year Three	2,705
Lessee, Operating Lease, Liability, Payments, Due Year Four	2,687
Lessee, Operating Lease, Liability, Payments, Due Year Five	2,441
Lessee, Operating Lease, Liability, Payments, Due after Year Five	3,535
Lessee, Operating Lease, Liability, Payments, Due	15,671
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(1,325)
Operating lease liability	14,346	$ 14,393
Finance Lease, Liability, Payment, Due [Abstract]
Finance Lease, Liability, Payments, Due Next Twelve Months	38
Finance Lease, Liability, Payments, Due Year Two	41
Finance Lease, Liability, Payments, Due Year Three	18
Finance Lease, Liability, Payments, Due Year Four	16
Finance Lease, Liability, Payments, Due Year Five	5
Finance Lease, Liability, Payments, Due after Year Five	0
Finance Lease, Liability, Payment, Due	118
Finance Lease, Liability, Undiscounted Excess Amount	(3)
Finance Lease, Liability	$ 115