Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Dec. 31, 2014 | Feb. 01, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Delanco Bancorp, Inc. | |
Document Type | 10-Q | |
Current Fiscal Year End Date | -28 | |
Entity Common Stock, Shares Outstanding | 945,425 | |
Amendment Flag | FALSE | |
Entity Central Index Key | 1577603 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Smaller Reporting Company | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | 31-Dec-14 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q3 |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Condition (Current Period Unaudited) (USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
Cash and cash equivalents | ||
Cash and amounts due from depository institutions | $630,504 | $505,735 |
Interest-bearing deposits with depository institutions | 6,705,274 | 2,826,904 |
Total cash and cash equivalents | 7,335,778 | 3,332,639 |
Investment securities: | ||
Securities available-for-sale (amortized cost of $2,164,205 and $2,185,959 at December 31, 2014 and March 31, 2014, respectively) | 2,089,638 | 1,973,370 |
Securities held-to-maturity (fair value $25,357,207 and $25,410,461 at December 31, 2014 and March 31, 2014, respectively) | 25,674,123 | 26,975,907 |
Total investment securities | 27,763,761 | 28,949,277 |
Loans, net of allowance for loan losses of $1,178,798 at December 31, 2014 , $1,448,298 at March 31, 2014 | 80,078,612 | 83,539,442 |
Accrued interest receivable | 413,236 | 462,284 |
Real estate owned | 2,712,741 | 1,949,825 |
Federal Home Loan Bank, at cost | 306,300 | 271,300 |
Premises and equipment, net | 6,533,876 | 6,668,552 |
Deferred income tax, net | 1,959,050 | 1,722,601 |
Bank-owned life insurance | 164,666 | 165,197 |
Other assets | 248,817 | 335,245 |
Total assets | 127,516,837 | 127,396,362 |
Deposits | ||
Non-interest bearing | 8,943,888 | 7,852,030 |
Interest bearing | 100,077,608 | 102,772,669 |
Total deposits | 109,021,496 | 110,624,699 |
Advances from Federal Home Loan bank | 4,000,000 | 2,000,000 |
Accrued interest payable | 684 | 6,556 |
Advance payments by borrowers for taxes and insurance | 312,756 | 328,815 |
Other liabilities | 650,384 | 684,289 |
Total liabilities | 113,985,320 | 113,644,359 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $.01 par value, 5,000,000 shares authorized at December 31, 2014 and March 31, 2014, no shares issued | ||
Common stock, $.01 par value, 20,000,000 shares authorized at December 31, 2014 and March 31, 2014, 945,425 shares issued and outstanding at December 31, 2014 and March 31, 2014, | 9,454 | 9,454 |
Additional paid-in capital | 9,959,179 | 9,956,750 |
Retained earnings, substantially restricted | 4,218,099 | 4,569,378 |
Unearned common stock held by employee stock ownership plan | -546,617 | -592,168 |
Accumulated other comprehensive (loss) | -108,598 | -191,411 |
Total stockholder’s equity | 13,531,517 | 13,752,003 |
Total liabilities and stockholders’ equity | $127,516,837 | $127,396,362 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) (USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
Securities available-for-sale, amortized cost (in Dollars) | $2,164,205 | $2,185,959 |
Securities held-to-maturity, fair value (in Dollars) | 25,357,207 | 25,410,461 |
Allowance for loan losses (in Dollars) | $1,178,798 | $1,448,298 |
Preferred stock, par value (in Dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock par value (in Dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 945,425 | 945,425 |
Common stock, shares outstanding | 945,425 | 945,425 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | |
INTEREST INCOME | ||||
Loans | $888,334 | $935,616 | $2,754,276 | $2,976,420 |
Investment securities | 182,853 | 192,811 | 543,983 | 529,517 |
Total interest income | 1,071,187 | 1,128,427 | 3,298,259 | 3,505,937 |
INTEREST EXPENSE | ||||
Interest-bearing checking accounts | 10,378 | 10,609 | 30,424 | 31,093 |
Passbook and money market accounts | 26,452 | 28,203 | 78,713 | 94,134 |
Certificates of deposits | 106,778 | 134,987 | 330,133 | 443,989 |
Federal Home Loan Bank Advances | 7,164 | 97 | 16,486 | 97 |
Total interest expense | 150,772 | 173,896 | 455,756 | 569,313 |
Net interest income | 920,415 | 954,531 | 2,842,503 | 2,936,624 |
Provision for loan losses | 406,557 | 375,000 | 613,057 | |
Net interest income after provision for loan losses | 920,415 | 547,974 | 2,467,503 | 2,323,567 |
NON-INTEREST INCOME | ||||
Increase in cash surrender value of bank-owned life insurance | 5,809 | |||
Loss on sale of real estate owned | -11,078 | -11,078 | -85,681 | |
Service charges | 33,235 | 32,815 | 108,151 | 105,697 |
Rental income | 26,349 | 33,820 | 78,118 | 108,369 |
Other | 3,531 | 1,715 | 12,364 | 11,039 |
Total non-interest income | 52,037 | 68,350 | 187,555 | 145,233 |
NON-INTEREST EXPENSE | ||||
Salaries and employee benefits | 388,128 | 405,789 | 1,230,022 | 1,175,683 |
Advertising | 7,239 | 6,760 | 17,749 | 18,472 |
Office supplies, telephone and postage | 22,512 | 19,499 | 81,737 | 54,026 |
Loan expenses | 14,775 | 56,212 | 117,586 | 159,836 |
Occupancy expense | 143,768 | 162,789 | 447,284 | 473,385 |
Federal insurance premiums | 42,384 | 53,175 | 128,170 | 159,971 |
Real estate owned loss reserve | 314,845 | 71,500 | 393,147 | 149,000 |
Data processing expenses | 57,084 | 57,068 | 167,816 | 170,407 |
ATM expenses | 9,048 | 8,765 | 26,330 | 23,876 |
Bank charges and fees | 17,251 | 17,137 | 52,113 | 50,751 |
Insurance and surety bond premiums | 26,289 | 20,471 | 73,400 | 62,698 |
Dues and subscriptions | 6,516 | 7,010 | 20,211 | 18,074 |
Professional fees | 100,423 | 57,290 | 259,429 | 185,259 |
Real Estate Owned expense | 65,627 | 23,744 | 174,879 | 92,271 |
Other | 39,253 | 33,552 | 97,421 | 81,141 |
Total non-interest expense | 1,255,142 | 1,000,761 | 3,287,294 | 2,874,850 |
LOSS BEFORE INCOME TAX BENEFIT | -282,690 | -384,437 | -632,236 | -406,050 |
Income tax benefit | -106,699 | -154,327 | -280,957 | -166,712 |
NET LOSS | ($175,991) | ($230,110) | ($351,279) | ($239,338) |
LOSS PER COMMON SHARE (in Dollars per share) | ($0.19) | ($0.26) | ($0.39) | ($0.27) |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD $) | 9 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Net loss | ($351,279) | ($239,338) |
Postretirement benefit plan adjustment, net of deferred tax expense (benefit) of $(3,240) for nine months ended | -4,860 | |
Unrealized gain (loss) on investment securities available for sale, net of deferred tax (benefit) of $29,827 and $(117,188) for the nine months ended | 82,813 | -169,773 |
Other comprehensive income (loss) | 82,813 | -174,633 |
Total Comprehensive (loss) | ($268,466) | ($413,971) |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parentheticals) (USD $) | 9 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Postretirement benefit plan adjustment, deferred tax (benefit) | $3,240 | |
Unrealized gain (loss) on investment securities, deferred tax (benefit) | $29,827 | $117,188 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Unearned Employee Stock Ownership Plan [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
Balance at March 31, 2014 at Mar. 31, 2014 | $9,454 | $9,956,750 | $4,569,378 | ($592,168) | ($191,411) | $13,752,003 |
Balance at March 31, 2014 (in Shares) at Mar. 31, 2014 | 945,425 | 945,425 | ||||
Net loss | -351,279 | -351,279 | ||||
Other comprehensive income, net of tax: | 82,813 | 82,813 | ||||
Employee stock option expense | 23,631 | 23,631 | ||||
Shares of common stock transferred to ESOP for services | -21,202 | 45,551 | 24,349 | |||
Balance at December 31, 2014 at Dec. 31, 2014 | $9,454 | $9,959,179 | $4,218,099 | ($546,617) | ($108,598) | $13,531,517 |
Balance at December 31, 2014 (in Shares) at Dec. 31, 2014 | 945,425 | 945,425 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flow from operating activities | ||
Net Loss | ($351,279) | ($239,338) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
ESOP amortization | 24,349 | 33,075 |
Deferred income taxes | -291,658 | -192,477 |
Depreciation | 193,635 | 188,459 |
Discount accretion net of premium amortization | -2,374 | 28,105 |
Provision for loan losses | 375,000 | 613,057 |
Income from bank owned life insurance | -5,809 | |
Loss on sale of real estate owned | 11,078 | 85,681 |
Compensation expense for stock options | 23,631 | 7,231 |
(Increase) decrease in: | ||
Accrued interest receivable | 49,048 | -9,472 |
Other assets | 86,959 | 354,111 |
Increase (decrease) in: | ||
Accrued interest payable | -5,872 | -7,781 |
Other liabilities | -33,905 | 45,426 |
Net cash provided by operating activities | 78,612 | 900,268 |
Cash flows from investing activities | ||
Proceeds of securities available for sale | 21,754 | 22,778 |
Purchases of securities held-to-maturity | -1,500,000 | -11,621,500 |
Proceeds from maturities and principal repayments of securities held-to-maturity | 2,804,158 | 3,553,193 |
Purchase of investment required by law – stock in Federal Home Loan Bank | -35,000 | -23,800 |
Proceeds from sale of real estate owned | 864,532 | 545,634 |
Net decrease in loans | 1,447,304 | 2,951,711 |
Purchases of premises and equipment | -58,959 | -14,742 |
Net cash provided by(used in) investing activities | 3,543,789 | -4,586,726 |
Cash flows from financing activities | ||
Decrease in deposits | -1,603,203 | -3,483,970 |
Decrease in advance payments by borrowers for taxes and insurance | -16,059 | -231,862 |
Net proceeds from issuance of common stock | 3,376,374 | |
Purchase of common stock in connection with ESOP | -189,152 | |
Increase in Federal Home Loan Bank advance | 2,000,000 | 1,000,000 |
Net cash provided by financing activities | 380,738 | 471,390 |
Net decrease in cash and cash equivalents | 4,003,139 | -3,215,068 |
Cash and cash equivalents, beginning of the period | 3,332,639 | 6,722,766 |
Cash and cash equivalents, end of period | 7,335,778 | 3,507,698 |
Supplemental Disclosures: | ||
Cash paid during the period for interest | 445,143 | 576,997 |
Cash paid during the period for income taxes | 2,000 | 2,000 |
Loans transferred to foreclosed real estate during the period | 1,827,367 | 856,353 |
Net change in unrealized gain (loss) on securities available-for-sale net of tax | $82,813 | ($169,773) |
Note_1_Basis_of_Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Dec. 31, 2014 | |
Disclosure Text Block [Abstract] | |
Basis of Accounting [Text Block] | (1) Basis of Presentation |
On October 16, 2013, Delanco Bancorp, Inc., a New Jersey corporation (the “Company”), became the holding company for the Bank upon completion of the “second-step” conversion of the Bank from a mutual holding company structure to a stock holding company structure (the “Conversion”). The Conversion involved the sale by the Company of 525,423 shares of common stock in a subscription and community offering, including shares purchased by the Bank’s employee stock ownership plan, the exchange of 420,002 shares of common stock of the Company for shares of common stock of the former Delanco Bancorp, Inc. (“old Delanco Bancorp”) held by persons other than Delanco MHC (the “MHC”), and the elimination of old Delanco Bancorp and the MHC. Net proceeds received from the reorganization and stock offering totaled $3,280,000, net of costs of $923,000. Net income per share and the weighted average shares outstanding for the three and nine months ended December 31, 2014 have been restated to reflect the Conversion. | |
Financial information presented in this Quarterly Report on Form 10-Q is derived in part from the consolidated financial statements of the Company and subsidiaries on and after October 16, 2013 and from the consolidated financial statements of old Delanco Bancorp and subsidiaries prior to October 16, 2013. | |
The accompanying unaudited consolidated financial statements have been prepared in accordance with instructions for Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of the financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP). However, all adjustments that are, in the opinion of management, necessary for the fair presentation of the interim financial statements have been included. Such adjustments were of a normal recurring nature. The results of operations for the three and nine month periods ended December 31, 2014 are not necessarily indicative of the results that may be expected for the entire year or any other interim period. For additional information, refer to the consolidated financial statements and footnotes thereto of Delanco Bancorp, Inc. (the “Company”) included in the Company’s annual report on Form 10-K for the year ended March 31, 2014. |
Note_2_Use_of_Estimates
Note 2 - Use of Estimates | 9 Months Ended |
Dec. 31, 2014 | |
Use Of Estimates [Abstract] | |
Use Of Estimates [Text Block] | (2) Use of Estimates |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for losses on loans and the evaluation of deferred taxes. |
Note_3_Deferred_Income_Taxes
Note 3 - Deferred Income Taxes | 9 Months Ended |
Dec. 31, 2014 | |
Note 3 - Deferred Income Taxes [Line Items] | |
Income Tax Disclosure [Text Block] | (4) Income Taxes |
The Bank accounts for uncertainties in income taxes in accordance with Financial ASC Topic 740 “Accounting for Uncertainty in Income Taxes”. ASC Topic 740 prescribes a threshold and measurement process for recognizing in the financial statements a tax position taken or expected to be taken in a tax return. ASC Topic 740 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Bank has determined that there are no significant uncertain tax positions requiring recognition in its financial statements. | |
Tax years 2010 through 2013 remain subject to examination by Federal and New Jersey taxing authorities. In the event the Bank is assessed for interest and/or penalties by taxing authorities, such assessed amounts will be classified in the financial statements as income tax expense. | |
Deferred Income Taxes [Member] | |
Note 3 - Deferred Income Taxes [Line Items] | |
Income Tax Disclosure [Text Block] | (3) Deferred Income Taxes |
We use the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. We exercise significant judgment in evaluating the amount and timing of recognition of the resulting tax liabilities and assets. These judgments require us to make projections of future taxable income. The judgments and estimates we make in determining our deferred tax assets, which are inherently subjective, are reviewed on a continual basis as regulatory and business factors change. | |
The calculation of deferred taxes for GAAP capital differs from the calculation of deferred taxes for regulatory capital. For regulatory capital, deferred tax assets that are dependent upon future taxable income for realization are limited to the lesser of either the amount of deferred tax assets that the institution expects to realize within one year of the calendar quarter-end date, or 10% of the Bank’s Tier I capital. As a result of this variance, our Tier I regulatory capital ratio is lower than our GAAP capital ratio by 120 basis points. |
Note_5_Earnings_Per_Share
Note 5 - Earnings Per Share | 9 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||
Earnings Per Share [Text Block] | (5) Earnings Per Share | ||||||||||||||||
Basic earnings per share (“EPS”) are computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. | |||||||||||||||||
The difference between the common shares issued and the common shares outstanding for the purposes of calculating basic EPS is a result of the unallocated ESOP shares. | |||||||||||||||||
As a result of the Conversion, all share information for periods prior to December 31, 2013, has been revised to reflect the .5711 exchange ratio. | |||||||||||||||||
The calculated basic and dilutive EPS are as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Numerator | $ | (175,991 | ) | $ | (230,110 | ) | $ | (351,279 | ) | $ | (239,338 | ) | |||||
Denominators: | |||||||||||||||||
Basic shares outstanding | 903,201 | 899,681 | 903,201 | 899,681 | |||||||||||||
Effect of dilutive securities | |||||||||||||||||
Dilutive shares outstanding | 903,201 | 899,681 | 903,201 | 899,681 | |||||||||||||
Earnings per share: | |||||||||||||||||
Basic | $ | (0.19 | ) | $ | (0.26 | ) | $ | (0.39 | ) | $ | (0.27 | ) | |||||
Dilutive | $ | (0.19 | ) | $ | (0.26 | ) | $ | (0.39 | ) | $ | (0.27 | ) | |||||
Note_6_Regulatory_Agreement
Note 6 - Regulatory Agreement | 9 Months Ended | ||
Dec. 31, 2014 | |||
Disclosure Text Block Supplement [Abstract] | |||
Legal Matters and Contingencies [Text Block] | (6) Regulatory Agreement | ||
On December 17, 2012, the Bank received a formal written agreement (the “Agreement”) with the Office of the Comptroller of the Currency (the “OCC”) dated November 21, 2012. The Agreement supersedes and terminates the Order to Cease and Desist entered into by and between the Bank and the Office of Thrift Supervision on March 17, 2010. | |||
The Agreement requires the Bank to take the following actions: | |||
● | prepare a three-year strategic plan that establishes objectives for the Bank’s overall risk profile, earnings performance, growth, balance sheet mix, liability structure, reduction in the volume of nonperforming assets, and product line development; | ||
● | prepare a capital plan that includes specific proposals related to the maintenance of adequate capital, identifies strategies to strengthen capital if necessary and includes detailed quarterly financial projections. If the OCC determines that the Bank has failed to submit an acceptable capital plan or fails to implement or adhere to its capital plan, then the OCC may require the Bank to develop a contingency capital plan detailing the Bank’s proposal to sell, merge or liquidate the Bank; | ||
● | prepare a criticized asset plan that will include strategies, targets and timeframes to reduce the Bank’s level of criticized assets; | ||
● | implement a plan to improve the Bank’s credit risk management and credit administration practices; | ||
● | implement programs and policies related to the Bank’s allowance for loan and lease losses, liquidity risk management, independent loan review and other real estate owned; | ||
● | review the capabilities of the Bank’s management to perform present and anticipated duties and to recommend and implement any changes based on such assessment; | ||
● | not pay any dividends or make any other capital distributions without the prior written approval of the OCC; | ||
● | not make any severance or indemnification payments without complying with regulatory requirements regarding such payments; and | ||
● | comply with prior regulatory notification requirements for any changes in directors or senior executive officers. | ||
The Agreement will remain in effect until terminated, modified, or suspended in writing by the OCC. | |||
The Agreement does not require the Bank to maintain any specific minimum regulatory capital ratios. However, the OCC established higher individual minimum capital ratios for the Bank. Specifically, the Bank must maintain a Tier 1 capital to adjusted total assets ratio of at least 8%, a Tier 1 capital to risk-weighted assets ratio of at least 12% and a total capital to risk-weighted assets ratio of at least 13%. The Bank's ratios of Tier 1 capital to adjusted total assets, Tier 1 capital to risk-weighted assets and total capital to risk-weighted assets at December 31, 2014 were 8.82%, 15.73% and 16.99%, respectively. |
Note_7_Recent_Accounting_Prono
Note 7 - Recent Accounting Pronouncements | 9 Months Ended |
Dec. 31, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | (7) Recent Accounting Pronouncements |
There were no recent accounting pronouncements since the March 31, 2014 audited financial statements. |
Note_8_Fair_Value_of_Financial
Note 8 - Fair Value of Financial Instruments | 9 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Disclosures [Text Block] | (8) Fair Value of Financial Instruments | ||||||||||||||||
ASC Topic 820-10 defines fair value, establishes a framework for measuring fair value in U.S. generally accepted accounting principles, and expands disclosure requirements for fair value measurements. ASC Topic 820 does not require any new fair value measurements. The adoption of ASC Topic 820-10 did not have a material impact on the consolidated financial statements. | |||||||||||||||||
ASC Topic 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels, as described below: | |||||||||||||||||
● | Level 1 | Level 1 input are unadjusted quoted prices in active markets for identical assets or liabilities. | |||||||||||||||
● | Level 2 | Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable, either directly or indirectly. Level 2 inputs include quoted prices for similar assets, quoted prices in markets that are not considered to be active, and observable inputs other than quoted prices such as interest rates. | |||||||||||||||
● | Level 3 | Level 3 inputs are unobservable inputs. | |||||||||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized below (dollars in thousands): | |||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
Quoted Prices | Significant | Significant | |||||||||||||||
in Active | Other | Other | |||||||||||||||
Markets for | Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
31-Dec-14 | |||||||||||||||||
Available-for-sale securities | $ | 165 | $ | 1,925 | $ | − | |||||||||||
31-Mar-14 | |||||||||||||||||
Available-for-sale securities | $ | 183 | $ | 1,790 | $ | − | |||||||||||
Assets and Liabilities on a Non-Recurring Basis | |||||||||||||||||
Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2014 and March 31, 2014 are as follows (dollars in thousands): | |||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
Quoted Prices | Significant | Significant | |||||||||||||||
in Active | Other | Other | |||||||||||||||
Markets for | Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
31-Dec-14 | |||||||||||||||||
Impaired loans | $ | − | $ | − | $ | 4,977 | |||||||||||
Real estate owned | − | − | 2,713 | ||||||||||||||
Total | $ | − | $ | − | $ | 7,690 | |||||||||||
31-Mar-14 | |||||||||||||||||
Impaired loans | $ | − | $ | − | $ | 6,021 | |||||||||||
Real estate owned | − | − | 1,950 | ||||||||||||||
Total | $ | − | $ | − | $ | 7,971 | |||||||||||
The fair value of impaired loans and real estate owned is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. | |||||||||||||||||
A financial instrument’s level within the fair value hierarchy is based upon the lowest level of any input significant to the fair value measurement. | |||||||||||||||||
As required by ASC Topic 825-10-65, the estimated fair value of financial instruments at December 31, 2014 and March 31, 2014 was as follows: | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | ||||||||||||||
Amount | |||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalent | $ | 7,336 | $ | 7,336 | $ | − | $ | − | |||||||||
Investment securities | 27,838 | 165 | 27,282 | − | |||||||||||||
Loans – net | 80,079 | − | − | 80,856 | |||||||||||||
FHLB stock | 306 | 306 | − | − | |||||||||||||
Accrued interest receivable | 413 | 413 | − | − | |||||||||||||
Bank–owned life insurance | 165 | 165 | − | − | |||||||||||||
Real estate owned | 2,713 | − | − | 2,713 | |||||||||||||
Total financial assets | $ | 118,850 | $ | 8,385 | $ | 27,282 | $ | 83,569 | |||||||||
Financial Liabilities: | |||||||||||||||||
Deposits | $ | 109,021 | $ | 8,944 | 99,723 | − | |||||||||||
Advance payments by borrowers for taxes and insurance | 313 | 313 | − | − | |||||||||||||
Advances Federal Home Loan Bank | 4,000 | 4,000 | − | − | |||||||||||||
Accrued interest payable | 1 | 1 | − | − | |||||||||||||
Total financial liabilities | $ | 113,335 | $ | 13,258 | $ | 99,723 | $ | − | |||||||||
31-Mar-14 | |||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | ||||||||||||||
Amount | |||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 3,333 | $ | 3,333 | $ | − | $ | − | |||||||||
Investment securities | 29,162 | − | 27,384 | − | |||||||||||||
Loans – net | 83,539 | − | − | 83,059 | |||||||||||||
FHLB stock | 271 | 271 | − | − | |||||||||||||
Accrued interest receivable | 462 | 462 | − | − | |||||||||||||
Bank–owned life insurance | 165 | 165 | − | − | |||||||||||||
Real estate owned | 1,950 | − | − | 1,950 | |||||||||||||
Total financial assets | $ | 118,882 | $ | 4,231 | $ | 27,384 | $ | 85,009 | |||||||||
Financial Liabilities: | |||||||||||||||||
Deposits | $ | 110,625 | $ | 7,852 | $ | 103,249 | $ | − | |||||||||
Advances from Federal Home Loan Bank | 2,000 | 2,000 | − | − | |||||||||||||
Advance payments by borrowers for taxes and insurance | 684 | 684 | − | − | |||||||||||||
Accrued interest payable | 7 | 7 | − | − | |||||||||||||
Total financial liabilities | $ | 113,316 | $ | 10,543 | $ | 103,249 | $ | − | |||||||||
Off-balance sheet instruments | |||||||||||||||||
Off-balance sheet instruments are primarily comprised of loan commitments and unfunded lines of credit which are generally priced at market rate at the time of funding. Therefore, these instruments have nominal value prior to funding. | |||||||||||||||||
31-Dec-14 | 31-Mar-14 | ||||||||||||||||
Contract | Estimated | Contract | Estimated | ||||||||||||||
Value | Fair Value | Value | Fair Value | ||||||||||||||
Off-balance sheet instruments | |||||||||||||||||
Commitments to extend credit | $ | 7,497 | $ | − | $ | 5,710 | $ | − | |||||||||
Note_9_Loans
Note 9 - Loans | 9 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | (9) Loans | ||||||||||||||||||||||||||||
The Bank monitors and assesses the credit risk of its loan portfolio using the classes set forth below. These classes also represent the segments by which the Bank monitors the performance of its loan portfolio and estimates its allowance for loan losses. | |||||||||||||||||||||||||||||
Residential real estate loans consist of loans secured by one to four family residences located in the Bank’s market area. The Bank has originated one to four family residential mortgage loans in amounts up to 80% of the lesser of the appraised value or selling price of the mortgaged property without requiring mortgage insurance. A mortgage loan originated by the Bank, for owner occupied property, whether fixed rate or adjustable rate, can have a term of up to 30 years. Non-owner occupied property, whether fixed rate or adjustable rate, can have a term of up to 30 years. Adjustable rate loan terms limit the periodic interest rate adjustment and the minimum and maximum rates that may be charged over the term of the loan based on the type of loan. | |||||||||||||||||||||||||||||
Commercial real estate loans are generally originated in amounts up to the lower of 80% of the appraised value or cost of the property and are secured by improved property such as multi-family dwelling units, office buildings, retail stores, warehouses, church buildings and other non-residential buildings, most of which are located in the Bank’s market area. Commercial real estate loans are generally made with fixed interest rates which mature or re-price in 5 to 7 years with principal amortization of up to 25 years. | |||||||||||||||||||||||||||||
Commercial loans include short and long-term business loans and commercial lines of credit for the purposes of providing working capital, supporting accounts receivable, purchasing inventory and acquiring fixed assets. The loans generally are secured by these types of assets as collateral and/or by personal guarantees provided by principals of the borrowers. | |||||||||||||||||||||||||||||
Construction loans will be made only if there is a permanent mortgage commitment in place. Interest rates on commercial construction loans are typically in line with normal commercial mortgage loan rates, while interest rates on residential construction loans are slightly higher than normal residential mortgage loan rates. These loans usually are adjustable rate loans and generally have terms of up to one year. | |||||||||||||||||||||||||||||
Consumer loans include installment loans and home equity loans, secured by first or second mortgages on homes owned or being purchased by the loan applicant. Home equity term loans and credit lines are credit accommodations secured by either a first or second mortgage on the borrower’s residential property. Interest rates charged on home equity term loans are generally fixed; interest on credit lines is usually a floating rate related to the prime rate. The Bank generally requires a loan to value ratio of less than or equal to 80% of the appraised value, including any outstanding prior mortgage balance. | |||||||||||||||||||||||||||||
Loans at December 31, 2014 and March 31, 2014 are summarized as follows (dollars in thousands): | |||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||
Residential (one-to four-family) real estate | $ | 62,076 | $ | 63,524 | |||||||||||||||||||||||||
Multi-family and commercial real estate | 8,065 | 10,414 | |||||||||||||||||||||||||||
Commercial | 1,895 | 1,307 | |||||||||||||||||||||||||||
Home equity | 7,789 | 8,144 | |||||||||||||||||||||||||||
Consumer | 645 | 686 | |||||||||||||||||||||||||||
Construction | 873 | 1,009 | |||||||||||||||||||||||||||
Total loans | 81,343 | 85,084 | |||||||||||||||||||||||||||
Net deferred loan origination fees | (85 | ) | (97 | ) | |||||||||||||||||||||||||
Allowance for loan losses | (1,179 | ) | (1,448 | ) | |||||||||||||||||||||||||
Loans, net | $ | 80,079 | $ | 83,539 | |||||||||||||||||||||||||
The Bank is subject to a loans-to-one-borrower limitation of 15% of capital funds. At December 31, 2014, the loans-to-one-borrower limitation was $1.8 million; this excluded an additional 10% of adjusted capital funds or approximately $1.2 million, which may be loaned if collateralized by readily marketable securities. At December 31, 2014, there were no loans outstanding or committed to any one borrower, which individually or in the aggregate exceeded the Bank’s loans to-one-borrower limitations of 15% of capital funds. | |||||||||||||||||||||||||||||
A summary of the Bank’s credit quality indicators is as follows: | |||||||||||||||||||||||||||||
Pass – A credit which is assigned a rating of Pass shall exhibit some or all of the following characteristics: | |||||||||||||||||||||||||||||
a. | Loans that present an acceptable degree of risk associated with the financing being considered as measured against earnings and balance sheet trends, industry averages, etc. Actual and projected indicators and market conditions provide satisfactory evidence that the credit will perform as agreed. | ||||||||||||||||||||||||||||
b. | Loans to borrowers that display acceptable financial conditions and operating results. Debt service capacity is demonstrated and future prospects are considered good. | ||||||||||||||||||||||||||||
c. | Loans to borrowers where a comfort level is achieved by the strength of the cash flows from the business or project and the strength and quantity of the collateral or security position (i.e.; receivables, inventory and other readily marketable securities) as supported by a current valuation and/or the strong capabilities of a guarantor. | ||||||||||||||||||||||||||||
Special Mention – Loans on which the credit risk requires more than ordinary attention by the Loan Officer. This may be the result of some erosion in the borrower’s financial condition, the economics of the industry, the capability of management, or changes in the original transaction. Loans which are currently sound yet exhibit potentially unacceptable credit risk or deteriorating long term prospects, will receive this classification. Loans which deviate from loan policy or regulations will not generally be classified in this category, but will be separately reported as an area of concern. | |||||||||||||||||||||||||||||
Classified – Classified loans include those considered by the Bank to be substandard, doubtful or loss. An asset is considered “substandard” if it involves more than an acceptable level of risk due to a deteriorating financial condition, unfavorable history of the borrower, inadequate payment capacity, insufficient security or other negative factors within the industry, market or management. Substandard loans have clearly defined weaknesses which can jeopardize the timely payment of the loan. | |||||||||||||||||||||||||||||
Assets classified as “doubtful” exhibit all of the weaknesses defined under the substandard category but with enough risk to present a high probability of some principal loss on the loan, although not yet fully ascertainable in amount. | |||||||||||||||||||||||||||||
Assets classified as “loss” are those considered uncollectible or of little value, even though a collection effort may continue after the classification and potential charge-off. | |||||||||||||||||||||||||||||
Non-Performing Loans | |||||||||||||||||||||||||||||
Non-performing loans consist of non-accrual loans (loans on which the accrual of interest has ceased), loans over ninety days delinquent and still accruing interest, renegotiated loans and impaired loans. Loans are generally placed on non-accrual status if, in the opinion of management, collection is doubtful, or when principal or interest is past due 90 days or more, unless the collateral is considered sufficient to cover principal and interest and the loan is in the process of collection. | |||||||||||||||||||||||||||||
The Bank continues to work with its borrowers where possible and is pursuing legal action where the ability to work with the borrower does not exist. As of December 31, 2013, the Bank has entered into formal forbearance agreements with three relationships totaling $811 thousand that require current payments while the borrowers restructure their finances. | |||||||||||||||||||||||||||||
The following table represents loans by credit quality indicator at December 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||||||
Pass | Special | Classified | Non- | Total | |||||||||||||||||||||||||
Mention | Loans | Performing | |||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||
Residential real estate | 59,711 | − | − | 2,365 | 62,076 | ||||||||||||||||||||||||
Multi-family and commercial real estate | 5,155 | 771 | 424 | 1,715 | 8,065 | ||||||||||||||||||||||||
Commercial | 1,772 | 24 | 99 | − | 1,895 | ||||||||||||||||||||||||
Home equity | 7,778 | − | − | 11 | 7,789 | ||||||||||||||||||||||||
Consumer | 574 | − | − | 71 | 645 | ||||||||||||||||||||||||
Construction | 817 | − | − | 56 | 873 | ||||||||||||||||||||||||
75,807 | 795 | 523 | 4,218 | 81,343 | |||||||||||||||||||||||||
The following table represents past-due loans as of December 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||||||
30-59 | 60- 89 | Greater | Total | Current | Total | ||||||||||||||||||||||||
Days | Days | than 90 | Past Due | Loan Balances | |||||||||||||||||||||||||
Past Due | Past Due | Days | |||||||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||||||
Residential real estate | 347 | 1,230 | 1,797 | 3,374 | 58,702 | 62,076 | |||||||||||||||||||||||
Multi-family and commercial real estate | 369 | − | 947 | 1,316 | 6,749 | 8,065 | |||||||||||||||||||||||
Commercial | − | − | − | − | 1,895 | 1,895 | |||||||||||||||||||||||
Home Equity | 404 | − | 11 | 415 | 7,374 | 7,789 | |||||||||||||||||||||||
Consumer | − | − | 71 | 71 | 574 | 645 | |||||||||||||||||||||||
Construction | − | − | 56 | 56 | 817 | 873 | |||||||||||||||||||||||
Total Loans | 1,120 | 1,230 | 2,882 | 5,232 | 76,111 | 81,343 | |||||||||||||||||||||||
Percentage of Total Loans | 1.4 | % | 1.5 | % | 3.5 | % | 6.4 | % | 93.6 | % | 100 | % | |||||||||||||||||
Impaired loans are measured based on the present value of expected future discounted cash flows, the fair value of the loan or the fair value of the underlying collateral if the loan is collateral dependent. The recognition of interest income on impaired loans is the same for non-accrual loans discussed above. At December 31, 2014, the Bank had 19 loan relationships totaling $2.9 million in non-accrual loans as compared to 23 relationships totaling $4.1 million at March 31, 2014. The average balance of impaired loans totaled $4.8 million for the nine months ended December 31, 2014 as compared to $6.0 million for the year ended March 31, 2014, and interest income recorded on impaired loans for the nine months ended December 31, 2014 totaled $158 thousand as compared to $235 thousand for the year ended March 31, 2014. | |||||||||||||||||||||||||||||
The following table represents data on impaired loans at December 31, 2014 and March 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||
Impaired loans for which a valuation allowance has been provided | $ | − | $ | 846 | |||||||||||||||||||||||||
Impaired loans for which no valuation allowance has been provided | 4,977 | 5,175 | |||||||||||||||||||||||||||
Total loans determined to be impaired | $ | 4,977 | $ | 6,021 | |||||||||||||||||||||||||
Allowance for loans losses related to impaired loans | $ | − | $ | 288 | |||||||||||||||||||||||||
Average recorded investment in impaired loans | $ | 4,843 | $ | 5,964 | |||||||||||||||||||||||||
Cash basis interest income recognized on impaired Loans | $ | 158 | $ | 235 | |||||||||||||||||||||||||
The following table presents impaired loans by portfolio class at December 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Valuation | Recorded | Income | |||||||||||||||||||||||||
Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||
While On | |||||||||||||||||||||||||||||
Impaired | |||||||||||||||||||||||||||||
Status | |||||||||||||||||||||||||||||
Impaired loans with no valuation allowance: | |||||||||||||||||||||||||||||
Residential real estate | $ | 2,886 | $ | 2,837 | $ | − | $ | 2,846 | $ | 46 | |||||||||||||||||||
Multi-family and commercial real estate | 2,014 | 1,967 | − | 1,722 | 103 | ||||||||||||||||||||||||
Commercial | 35 | 35 | − | 41 | 1 | ||||||||||||||||||||||||
Home equity | 11 | 11 | − | 159 | 5 | ||||||||||||||||||||||||
Consumer | 71 | 71 | − | 16 | 1 | ||||||||||||||||||||||||
Construction | 56 | 56 | − | 59 | 2 | ||||||||||||||||||||||||
Subtotal | $ | 5,073 | $ | 4,977 | $ | − | $ | 4,843 | $ | 158 | |||||||||||||||||||
The following table presents impaired loans by portfolio class at March 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Valuation | Recorded | Income | |||||||||||||||||||||||||
Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||
While On | |||||||||||||||||||||||||||||
Impaired | |||||||||||||||||||||||||||||
Status | |||||||||||||||||||||||||||||
Impaired loans with no valuation allowance: | |||||||||||||||||||||||||||||
Residential real estate | $ | 2,387 | $ | 2,345 | $ | − | $ | 2,185 | $ | 130 | |||||||||||||||||||
Multi-family and commercial real estate | 2,443 | 2,443 | − | 2,556 | 88 | ||||||||||||||||||||||||
Commercial | 108 | 108 | − | 183 | − | ||||||||||||||||||||||||
Home equity | 219 | 219 | − | 155 | 8 | ||||||||||||||||||||||||
Consumer | − | − | − | 4 | − | ||||||||||||||||||||||||
Construction | 60 | 60 | − | 51 | 3 | ||||||||||||||||||||||||
Subtotal | $ | 5,217 | $ | 5,175 | $ | − | $ | 5,134 | $ | 229 | |||||||||||||||||||
The following table presents impaired loans by portfolio class with a valuation allowance at March 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Valuation | Recorded | Income | |||||||||||||||||||||||||
Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||
While on | |||||||||||||||||||||||||||||
Impaired | |||||||||||||||||||||||||||||
Status | |||||||||||||||||||||||||||||
Impaired loans with a valuation allowance: | |||||||||||||||||||||||||||||
Residential real estate | $ | 153 | $ | 153 | $ | 28 | $ | 153 | $ | 6 | |||||||||||||||||||
Multi-family and commercial real estate | 693 | 693 | 260 | 677 | − | ||||||||||||||||||||||||
Commercial | − | − | − | − | − | ||||||||||||||||||||||||
Home equity | − | − | − | − | − | ||||||||||||||||||||||||
Consumer | − | − | − | − | − | ||||||||||||||||||||||||
Construction | − | − | − | − | − | ||||||||||||||||||||||||
Subtotal | $ | 846 | $ | 846 | $ | 288 | $ | 830 | $ | 6 | |||||||||||||||||||
Total Impaired Loans by Portfolio Class at March 31, 2014 | |||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Valuation | Recorded | Income | |||||||||||||||||||||||||
Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||
While on | |||||||||||||||||||||||||||||
Impaired | |||||||||||||||||||||||||||||
Status | |||||||||||||||||||||||||||||
Total impaired loans: | |||||||||||||||||||||||||||||
Residential real estate | $ | 2,540 | $ | 2,498 | $ | 28 | $ | 2,338 | $ | 136 | |||||||||||||||||||
Multi-family and commercial real estate | 3,136 | 3,136 | 260 | 3,233 | 88 | ||||||||||||||||||||||||
Commercial | 108 | 108 | − | 183 | − | ||||||||||||||||||||||||
Home equity | 219 | 219 | − | 155 | 8 | ||||||||||||||||||||||||
Consumer | − | − | − | 4 | − | ||||||||||||||||||||||||
Construction | 60 | 60 | − | 51 | 3 | ||||||||||||||||||||||||
Total | $ | 6,063 | $ | 6,021 | $ | 288 | $ | 5,964 | $ | 235 | |||||||||||||||||||
The following table represents nonaccrual loans as of December 31, 2014 and March 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||
Non-accrual loans: | |||||||||||||||||||||||||||||
Residential real estate | $ | 1,184 | $ | 1,277 | |||||||||||||||||||||||||
Multi-family and commercial real estate | 564 | 981 | |||||||||||||||||||||||||||
Commercial | − | 108 | |||||||||||||||||||||||||||
Consumer | 71 | − | |||||||||||||||||||||||||||
Home Equity | 11 | 219 | |||||||||||||||||||||||||||
Construction | − | − | |||||||||||||||||||||||||||
Total non-accrual loans | 1,830 | 2,585 | |||||||||||||||||||||||||||
Accruing loans past due 90 days or more: | |||||||||||||||||||||||||||||
Residential real estate | $ | − | $ | − | |||||||||||||||||||||||||
Multi-family and commercial real estate | − | 100 | |||||||||||||||||||||||||||
Commercial | − | − | |||||||||||||||||||||||||||
Consumer | − | − | |||||||||||||||||||||||||||
Home Equity | − | − | |||||||||||||||||||||||||||
Construction | − | − | |||||||||||||||||||||||||||
Total accruing loans past due 90 days or more | − | 100 | |||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||
In non-accrual status: | |||||||||||||||||||||||||||||
Residential real estate | $ | 613 | $ | 672 | |||||||||||||||||||||||||
Multi-family and commercial real estate | 439 | 847 | |||||||||||||||||||||||||||
Commercial | − | − | |||||||||||||||||||||||||||
Consumer | − | − | |||||||||||||||||||||||||||
Home Equity | − | − | |||||||||||||||||||||||||||
Construction | − | − | |||||||||||||||||||||||||||
Total troubled debt restructurings in non-accrual status | 1,052 | 1,519 | |||||||||||||||||||||||||||
Performing under modified terms: | |||||||||||||||||||||||||||||
Residential real estate | 567 | 548 | |||||||||||||||||||||||||||
Multi-family and commercial real estate | 768 | 1,309 | |||||||||||||||||||||||||||
Commercial | − | − | |||||||||||||||||||||||||||
Consumer | − | − | |||||||||||||||||||||||||||
Home Equity | − | − | |||||||||||||||||||||||||||
Construction | − | 60 | |||||||||||||||||||||||||||
Total troubled debt restructurings performing under modified terms: | 1,335 | 1,917 | |||||||||||||||||||||||||||
Total troubled debt restructurings | 2,387 | 3,436 | |||||||||||||||||||||||||||
Total non-performing loans | 4,217 | 6,121 | |||||||||||||||||||||||||||
Real estate owned | 2,713 | 1,950 | |||||||||||||||||||||||||||
Total non-performing assets | 6,930 | 8,071 | |||||||||||||||||||||||||||
Non-performing loans as a percentage of loans | 5.18 | % | 7.19 | % | |||||||||||||||||||||||||
Non-performing assets as a percentage of loans and real estate owned | 8.24 | % | 9.27 | % | |||||||||||||||||||||||||
Non-performing assets as percentage of total assets | 5.43 | % | 6.34 | % | |||||||||||||||||||||||||
During the nine months ended December 31, 2014, the Bank experienced a $1.2 million net decrease in non-accrual loans. This change reflects the downgrading of twelve loan relationships to non-accrual status totaling $2.3 million during the nine months ended December 31, 2014. The downgraded loans consisted of seven residential mortgage totaling $1.5 million, five commercial loan relationships consisting of five loans totaling $709 thousand, one home equity loan totaling $11 thousand and one consumer loan totaling $71 thousand. These additions to the non-accruals were offset by five residential mortgages for $935 thousand, two home equity loans totaling $219 thousand and one commercial loan for $128 thousand that returned to accruing status; one commercial loan for $56 thousand that was paid in full; one commercial loan totaling $108 thousand that was paid through a short sale; one commercial loan totaling $19 thousand that was charged off; four residential mortgages totaling $735 thousand and three commercial relationships consisting of three commercial real estate loans totaling $1.3 million that were transferred to real estate owned after a partial charge off of $230 thousand due to valuation updates. | |||||||||||||||||||||||||||||
The following table presents troubled debt restructurings that occurred during the periods ended December 31, 2014 and March 31, 2014 and loans modified as troubled debt restructurings within the previous 9 and 12 month periods and for which there was a payment default during the period. | |||||||||||||||||||||||||||||
31-Dec-14 | 31-Mar-14 | ||||||||||||||||||||||||||||
Outstanding Recorded | Outstanding Recorded | ||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||
Number of | Pre- | Post- | Number of | Pre- | Post- | ||||||||||||||||||||||||
Contracts | Modification | Modification | Contracts | Modification | Modification | ||||||||||||||||||||||||
Troubled debt restructurings: | |||||||||||||||||||||||||||||
Residential real estate | 1 | $ | 96 | $ | 110 | 1 | $ | 120 | $ | 123 | |||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||
Contracts | Investment | Contracts | Investment | ||||||||||||||||||||||||||
Troubled debt restructurings that subsequently defaulted: | |||||||||||||||||||||||||||||
Residential real estate | − | $ | − | - | $ | - | |||||||||||||||||||||||
The following table presents the changes in real estate owned (REO), net of valuation allowance, for the periods ended December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||
Balance, beginning of period | $ | 1,950 | $ | 2,470 | |||||||||||||||||||||||||
Additions from loan foreclosures | 1,827 | 856 | |||||||||||||||||||||||||||
Additions from capitalized costs | − | 3 | |||||||||||||||||||||||||||
Dispositions of REO | (853 | ) | (690 | ) | |||||||||||||||||||||||||
Gain (loss) on sale of REO | (11 | ) | (86 | ) | |||||||||||||||||||||||||
Valuation adjustments in the period | (200 | ) | (603 | ) | |||||||||||||||||||||||||
Balance, end of period | $ | 2,713 | $ | 1,950 | |||||||||||||||||||||||||
The following table presents the changes in fair value adjustments to REO for the periods ended December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||
Balance, beginning of period | $ | 676 | $ | 73 | |||||||||||||||||||||||||
Valuation adjustments added in the period | 393 | 675 | |||||||||||||||||||||||||||
Valuation adjustments on disposed properties during the period | (193 | ) | (72 | ) | |||||||||||||||||||||||||
Balance, end of period | $ | 876 | $ | 676 | |||||||||||||||||||||||||
The following table sets forth with respect to the Bank’s allowance for losses on loans (dollars in thousands): | |||||||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||
Balance at beginning of period | $ | 1,448 | $ | 1,033 | |||||||||||||||||||||||||
Provision: | |||||||||||||||||||||||||||||
Commercial | 73 | 141 | |||||||||||||||||||||||||||
Commercial real estate | 168 | 628 | |||||||||||||||||||||||||||
Residential real estate | 136 | 266 | |||||||||||||||||||||||||||
Home Equity | 12 | 21 | |||||||||||||||||||||||||||
Consumer | (13 | ) | (103 | ) | |||||||||||||||||||||||||
Construction | (1 | ) | 4 | ||||||||||||||||||||||||||
Total Provision | $ | 375 | $ | 957 | |||||||||||||||||||||||||
Charge-Offs: | |||||||||||||||||||||||||||||
Commercial | $ | 19 | $ | 127 | |||||||||||||||||||||||||
Commercial Real Estate | 594 | 378 | |||||||||||||||||||||||||||
Residential real estate | 113 | 100 | |||||||||||||||||||||||||||
Home Equity | − | 4 | |||||||||||||||||||||||||||
Consumer | 4 | 16 | |||||||||||||||||||||||||||
Recoveries | (86 | ) | (83 | ) | |||||||||||||||||||||||||
Total Net Charge-Offs | 644 | 542 | |||||||||||||||||||||||||||
Balance at end of period | $ | 1,179 | $ | 1,448 | |||||||||||||||||||||||||
Period-end loans outstanding | $ | 81,343 | $ | 85,084 | |||||||||||||||||||||||||
Average loans outstanding | $ | 81,219 | $ | 87,327 | |||||||||||||||||||||||||
Allowance as a percentage of period-end loans | 1.45 | % | 1.7 | % | |||||||||||||||||||||||||
Net charge-offs as a percentage of average loans | 0.79 | % | 0.62 | % | |||||||||||||||||||||||||
Additional details for changes in the allowance for loan by loan portfolio as of December 31, 2014 are as follows (dollars in thousands): | |||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Home | Consumer | Construction | Total | |||||||||||||||||||||||
Real Estate | Real Estate | Equity | |||||||||||||||||||||||||||
Balance, beginning of year | $ | 58 | $ | 635 | $ | 656 | $ | 65 | $ | 30 | $ | 4 | $ | 1,448 | |||||||||||||||
Loan charge-offs | (19 | ) | (594 | ) | (113 | ) | − | (4 | ) | − | (730 | ) | |||||||||||||||||
Recoveries | 1 | 62 | 7 | − | 16 | − | 86 | ||||||||||||||||||||||
Provision for loan losses | 73 | 168 | 136 | 12 | (13 | ) | (1 | ) | 375 | ||||||||||||||||||||
Balance, end of period | $ | 113 | $ | 271 | $ | 686 | $ | 77 | $ | 29 | $ | 3 | $ | 1,179 | |||||||||||||||
Ending balance for loans individually evaluated for impairment | $ | 35 | $ | 1,967 | $ | 2,837 | $ | 11 | $ | − | $ | 56 | $ | 4,906 | |||||||||||||||
Ending balance for loans collectively evaluated for impairment | 1,860 | 6,098 | 59,239 | 7,778 | 645 | 817 | $ | 76,437 | |||||||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Ending balance | $ | 1,895 | $ | 8,065 | $ | 62,076 | $ | 7,789 | $ | 645 | $ | 873 | $ | 81,343 | |||||||||||||||
Ending balance: loans individually evaluated for impairment | $ | 35 | $ | 1,967 | $ | 2,837 | $ | 11 | $ | − | $ | 56 | $ | 4,906 | |||||||||||||||
Ending balance: loans collectively evaluated for impairment | 1,860 | 6,098 | 59,239 | 7,778 | 645 | 817 | $ | 76,437 | |||||||||||||||||||||
The Bank prepares an allowance for loan loss model on a quarterly basis to determine the adequacy of the allowance. Management considers a variety of factors when establishing the allowance, such as the impact of current economic conditions, diversification of the loan portfolio, delinquency statistics, results of independent loan review and related classifications. The Bank’s historic loss rates and the loss rates of peer financial institutions are also considered. | |||||||||||||||||||||||||||||
On a monthly basis, the loan committee meets to review each problem loan and determine if there has been any change in collateral value due to changes in market conditions. Each quarter, when calculating the allowance for loan loss, the loan committee reviews an updated loan impairment analysis on each problem loan to determine if a specific provision for loan loss is warranted. Management reviews the most recent appraisal on each loan adjusted for holding and selling costs. In the event there is not a recent appraisal on file, the Bank will use the aged appraisal and apply a discount factor to the appraisal and then adjust the holding and selling costs from the discounted appraisal value. | |||||||||||||||||||||||||||||
In evaluating the Bank’s allowance for loan loss, the Bank maintains a loan committee consisting of senior management and the Board of Directors that monitors problem loans and formulates collection efforts and resolution plans for each borrower. | |||||||||||||||||||||||||||||
For the nine months ending December 31, 2014, the Bank experienced two full charge-offs relating to two loan relationships totaling $23 thousand and fourteen partial charge-offs related to thirteen relationships totaling $708 thousand as compared to three charge-offs relating to three loan relationships totaling $111 thousand and eleven partial charge-offs relating to eleven loan relationships totaling $514 thousand for the year ended March 31, 2014. | |||||||||||||||||||||||||||||
At December 31, 2014, the Bank maintained an allowance for loan loss ratio of 1.45% to loans outstanding. Non-performing assets have decreased by $1.1 million over their stated levels at March 31, 2014, representing a non-performing asset to total asset ratio of 5.43% at December 31, 2014 as compared to a non-performing asset to total asset ratio of 6.34% at March 31, 2014. | |||||||||||||||||||||||||||||
The Bank’s charge-off policy states that any asset classified loss shall be charged-off within thirty days of such classification unless the asset has already been eliminated from the books by collection or other appropriate entry. On a quarterly basis, the loan committee will review past due, classified, non-performing and other loans, as it deems appropriate, to determine the collectability of such loans. If the loan committee determines a loan to be uncollectable, the loan shall be charged to the allowance for loan loss. In addition, upon reviewing the collectability, the loan committee may determine a portion of the loan to be uncollectable; in which case that portion of the loan deemed uncollectable will be partially charged-off against the allowance for loan loss. |
Note_10_Investment_Securities
Note 10 - Investment Securities | 9 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | (10) Investment Securities | ||||||||||||||||||||||||
Investment securities have been classified according to management’s intent. The amortized cost of securities and their approximate fair values as of December 31, 2014 and March 31, 2014 are as follows: | |||||||||||||||||||||||||
Held-to-Maturity | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Federal Farm Credit Bank Bond | $ | 5,944 | $ | 1 | $ | (138 | ) | $ | 5,807 | ||||||||||||||||
Federal Home Loan Bank Bonds | 7,069 | 10 | (151 | ) | 6,928 | ||||||||||||||||||||
Federal Home Loan Mortgage | |||||||||||||||||||||||||
Corporation Bonds | 1,997 | − | (47 | ) | 1,950 | ||||||||||||||||||||
Federal National Mortgage Association | 8,999 | 11 | (96 | ) | 8,914 | ||||||||||||||||||||
Municipal Bond | 470 | 4 | − | 474 | |||||||||||||||||||||
24,479 | 26 | (432 | ) | 24,073 | |||||||||||||||||||||
Mortgage-Backed Securities: | |||||||||||||||||||||||||
Federal Home Loan Mortgage Corporation | 484 | 33 | − | 517 | |||||||||||||||||||||
Federal National Mortgage Association | 509 | 49 | − | 558 | |||||||||||||||||||||
Government National Mortgage Corporation | 202 | 7 | − | 209 | |||||||||||||||||||||
1,195 | 89 | − | 1,284 | ||||||||||||||||||||||
Total | $ | 25,674 | $ | 115 | $ | (432 | ) | $ | 25,357 | ||||||||||||||||
Held-to-Maturity | |||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Federal Home Loan Bank Bonds | $ | 6,568 | $ | − | $ | (524 | ) | $ | 6,044 | ||||||||||||||||
Federal Farm Credit Bonds | 5,944 | − | (387 | ) | 5,557 | ||||||||||||||||||||
Federal Home Loan Mortgage Corporation Bonds | 1,997 | − | (167 | ) | 1,830 | ||||||||||||||||||||
Federal National Mortgage Association Bond | 10,498 | 17 | (597 | ) | 9,918 | ||||||||||||||||||||
Municipal Bond | 547 | 1 | − | 548 | |||||||||||||||||||||
25,554 | 18 | (1,675 | ) | 23,897 | |||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
Federal Home Loan Mortgage Corporation | 610 | 43 | (7 | ) | 646 | ||||||||||||||||||||
Federal National Mortgage Association | 583 | 54 | (4 | ) | 633 | ||||||||||||||||||||
Government National Mortgage Corporation | 229 | 7 | (2 | ) | 234 | ||||||||||||||||||||
1,422 | 104 | (13 | ) | 1,513 | |||||||||||||||||||||
Total | $ | 26,976 | $ | 122 | $ | (1,688 | ) | $ | 25,410 | ||||||||||||||||
Available for Sale | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Federal Home Loan Bank Bonds | $ | 1,500 | $ | − | $ | (50 | ) | $ | 1,450 | ||||||||||||||||
Federal National Mortgage Association Bond | 500 | − | (25 | ) | 475 | ||||||||||||||||||||
Mutual Fund Shares | 164 | 1 | − | 165 | |||||||||||||||||||||
$ | 2,164 | $ | 1 | $ | (75 | ) | $ | 2,090 | |||||||||||||||||
Available for Sale | |||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Federal Home Loan Bank Bonds | $ | 1,500 | $ | − | $ | (148 | ) | $ | 1,352 | ||||||||||||||||
Federal National Mortgage Association Bond | 500 | − | (62 | ) | 438 | ||||||||||||||||||||
Mutual Fund Shares | 186 | − | (3 | ) | 183 | ||||||||||||||||||||
$ | 2,186 | $ | − | (213 | ) | $ | 1,973 | ||||||||||||||||||
The following is a summary of maturities of securities held-to-maturity and available-for-sale as of December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Held to Maturity | Available for Sale | ||||||||||||||||||||||||
(Dollars in Thousands) | Amortized | Fair Value | Amortized | Fair Value | |||||||||||||||||||||
Cost | Cost | ||||||||||||||||||||||||
Amounts maturing in: | |||||||||||||||||||||||||
One year or less | $ | 470 | $ | 474 | $ | − | $ | − | |||||||||||||||||
After one year through five years | 1,501 | 1,504 | − | − | |||||||||||||||||||||
After five years through ten years | 8,419 | 8,251 | − | − | |||||||||||||||||||||
After ten years | 15,284 | 15,128 | 2,000 | 1,925 | |||||||||||||||||||||
Equity securities | − | − | 164 | 165 | |||||||||||||||||||||
$ | 25,674 | $ | 25,357 | $ | 2,164 | $ | 2,090 | ||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||
Held to Maturity | Available for Sale | ||||||||||||||||||||||||
(Dollars in Thousands) | Amortized | Fair Value | Amortized | Fair Value | |||||||||||||||||||||
Cost | Cost | ||||||||||||||||||||||||
Amounts maturing in: | |||||||||||||||||||||||||
One year or less | $ | 547 | $ | 548 | $ | − | $ | − | |||||||||||||||||
After one year through five years | 1,502 | 1,500 | − | − | |||||||||||||||||||||
After five years through ten years | 8,418 | 7,928 | − | − | |||||||||||||||||||||
After ten years | 16,509 | 15,434 | 2,000 | 1,790 | |||||||||||||||||||||
Equity securities | − | − | 186 | 183 | |||||||||||||||||||||
$ | 26,976 | $ | 25,410 | $ | 2,186 | $ | 1,973 | ||||||||||||||||||
The amortized cost and fair value of mortgage-backed securities are presented in the held-to-maturity category by contractual maturity in the preceding table. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations without call or prepayment penalties. | |||||||||||||||||||||||||
Information pertaining to securities with gross unrealized losses at December 31, 2014 and March 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | |||||||||||||||||||||||
Fair Value | Gross | Fair Value | Gross | Fair Value | Gross | ||||||||||||||||||||
Unrealized | Unrealized | Unrealized | |||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Federal Home Loan Bank Bonds | $ | − | $ | − | $ | − | $ | (201 | ) | $ | 8,091 | $ | (201 | ) | |||||||||||
Federal Farm Credit Bonds | − | − | − | (138 | ) | 5,444 | (138 | ) | |||||||||||||||||
Federal Home Loan Mortgage Corporation Bonds | − | − | − | (47 | ) | 1,997 | (47 | ) | |||||||||||||||||
Federal National Mortgage Association | − | − | − | (121 | ) | 7,999 | (121 | ) | |||||||||||||||||
Total | $ | − | $ | − | $ | − | $ | (507 | ) | $ | 23,531 | $ | (507 | ) | |||||||||||
31-Mar-14 | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | |||||||||||||||||||||||
Fair Value | Gross | Fair Value | Gross | Fair Value | Gross | ||||||||||||||||||||
Unrealized | Unrealized | Unrealized | |||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Federal Home Loan Bank Bonds | $ | 3,606 | $ | (371 | ) | $ | 3,790 | $ | (301 | ) | $ | 7,396 | $ | (672 | ) | ||||||||||
Federal Farm Credit Bonds | 3,282 | (217 | ) | 1,775 | (171 | ) | 5,057 | (388 | ) | ||||||||||||||||
Federal Home Loan Mortgage Corporation Bonds | 1,100 | (77 | ) | 902 | (97 | ) | 2,002 | (174 | ) | ||||||||||||||||
Federal National Mortgage Association | 7,687 | (512 | ) | 1,349 | (151 | ) | 9,036 | (663 | ) | ||||||||||||||||
Mutual funds shares | 183 | (3 | ) | − | − | 183 | (3 | ) | |||||||||||||||||
15,858 | (1,180 | ) | 7,816 | (720 | ) | 23,674 | (1,900 | ) | |||||||||||||||||
Mortgage-Backed Securities: | |||||||||||||||||||||||||
Government National Mortgage Corporation | − | − | 26 | (1 | ) | 26 | (1 | ) | |||||||||||||||||
Total | $ | 15,858 | $ | (1,180 | ) | $ | 7,842 | $ | (721 | ) | $ | 23,700 | $ | (1,901 | ) | ||||||||||
Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Bank to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. | |||||||||||||||||||||||||
At December 31, 2014, the 47 debt securities with unrealized losses have depreciated .02% from the Bank’s amortized cost basis. These unrealized losses relate principally to current interest rates for similar types of securities. In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government, its agencies, or other governments, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial condition. As management has the ability to hold debt securities until maturity, or for the foreseeable future if classified as available-for-sale, no declines are deemed to be other-than-temporary. |
Note_5_Earnings_Per_Share_Tabl
Note 5 - Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended | Nine Months Ended | |||||||||||||||
December 31, | December 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Numerator | $ | (175,991 | ) | $ | (230,110 | ) | $ | (351,279 | ) | $ | (239,338 | ) | |||||
Denominators: | |||||||||||||||||
Basic shares outstanding | 903,201 | 899,681 | 903,201 | 899,681 | |||||||||||||
Effect of dilutive securities | |||||||||||||||||
Dilutive shares outstanding | 903,201 | 899,681 | 903,201 | 899,681 | |||||||||||||
Earnings per share: | |||||||||||||||||
Basic | $ | (0.19 | ) | $ | (0.26 | ) | $ | (0.39 | ) | $ | (0.27 | ) | |||||
Dilutive | $ | (0.19 | ) | $ | (0.26 | ) | $ | (0.39 | ) | $ | (0.27 | ) |
Note_8_Fair_Value_of_Financial1
Note 8 - Fair Value of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at Reporting Date Using | ||||||||||||||||
Quoted Prices | Significant | Significant | |||||||||||||||
in Active | Other | Other | |||||||||||||||
Markets for | Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
31-Dec-14 | |||||||||||||||||
Available-for-sale securities | $ | 165 | $ | 1,925 | $ | − | |||||||||||
31-Mar-14 | |||||||||||||||||
Available-for-sale securities | $ | 183 | $ | 1,790 | $ | − | |||||||||||
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements at Reporting Date Using | ||||||||||||||||
Quoted Prices | Significant | Significant | |||||||||||||||
in Active | Other | Other | |||||||||||||||
Markets for | Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
31-Dec-14 | |||||||||||||||||
Impaired loans | $ | − | $ | − | $ | 4,977 | |||||||||||
Real estate owned | − | − | 2,713 | ||||||||||||||
Total | $ | − | $ | − | $ | 7,690 | |||||||||||
31-Mar-14 | |||||||||||||||||
Impaired loans | $ | − | $ | − | $ | 6,021 | |||||||||||
Real estate owned | − | − | 1,950 | ||||||||||||||
Total | $ | − | $ | − | $ | 7,971 | |||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | 31-Dec-14 | ||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | ||||||||||||||
Amount | |||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalent | $ | 7,336 | $ | 7,336 | $ | − | $ | − | |||||||||
Investment securities | 27,838 | 165 | 27,282 | − | |||||||||||||
Loans – net | 80,079 | − | − | 80,856 | |||||||||||||
FHLB stock | 306 | 306 | − | − | |||||||||||||
Accrued interest receivable | 413 | 413 | − | − | |||||||||||||
Bank–owned life insurance | 165 | 165 | − | − | |||||||||||||
Real estate owned | 2,713 | − | − | 2,713 | |||||||||||||
Total financial assets | $ | 118,850 | $ | 8,385 | $ | 27,282 | $ | 83,569 | |||||||||
Financial Liabilities: | |||||||||||||||||
Deposits | $ | 109,021 | $ | 8,944 | 99,723 | − | |||||||||||
Advance payments by borrowers for taxes and insurance | 313 | 313 | − | − | |||||||||||||
Advances Federal Home Loan Bank | 4,000 | 4,000 | − | − | |||||||||||||
Accrued interest payable | 1 | 1 | − | − | |||||||||||||
Total financial liabilities | $ | 113,335 | $ | 13,258 | $ | 99,723 | $ | − | |||||||||
31-Mar-14 | |||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | ||||||||||||||
Amount | |||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 3,333 | $ | 3,333 | $ | − | $ | − | |||||||||
Investment securities | 29,162 | − | 27,384 | − | |||||||||||||
Loans – net | 83,539 | − | − | 83,059 | |||||||||||||
FHLB stock | 271 | 271 | − | − | |||||||||||||
Accrued interest receivable | 462 | 462 | − | − | |||||||||||||
Bank–owned life insurance | 165 | 165 | − | − | |||||||||||||
Real estate owned | 1,950 | − | − | 1,950 | |||||||||||||
Total financial assets | $ | 118,882 | $ | 4,231 | $ | 27,384 | $ | 85,009 | |||||||||
Financial Liabilities: | |||||||||||||||||
Deposits | $ | 110,625 | $ | 7,852 | $ | 103,249 | $ | − | |||||||||
Advances from Federal Home Loan Bank | 2,000 | 2,000 | − | − | |||||||||||||
Advance payments by borrowers for taxes and insurance | 684 | 684 | − | − | |||||||||||||
Accrued interest payable | 7 | 7 | − | − | |||||||||||||
Total financial liabilities | $ | 113,316 | $ | 10,543 | $ | 103,249 | $ | − | |||||||||
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | 31-Dec-14 | 31-Mar-14 | |||||||||||||||
Contract | Estimated | Contract | Estimated | ||||||||||||||
Value | Fair Value | Value | Fair Value | ||||||||||||||
Off-balance sheet instruments | |||||||||||||||||
Commitments to extend credit | $ | 7,497 | $ | − | $ | 5,710 | $ | − |
Note_9_Loans_Tables
Note 9 - Loans (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Note 9 - Loans (Tables) [Line Items] | |||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, | March 31, | |||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||
Residential (one-to four-family) real estate | $ | 62,076 | $ | 63,524 | |||||||||||||||||||||||||
Multi-family and commercial real estate | 8,065 | 10,414 | |||||||||||||||||||||||||||
Commercial | 1,895 | 1,307 | |||||||||||||||||||||||||||
Home equity | 7,789 | 8,144 | |||||||||||||||||||||||||||
Consumer | 645 | 686 | |||||||||||||||||||||||||||
Construction | 873 | 1,009 | |||||||||||||||||||||||||||
Total loans | 81,343 | 85,084 | |||||||||||||||||||||||||||
Net deferred loan origination fees | (85 | ) | (97 | ) | |||||||||||||||||||||||||
Allowance for loan losses | (1,179 | ) | (1,448 | ) | |||||||||||||||||||||||||
Loans, net | $ | 80,079 | $ | 83,539 | |||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | Pass | Special | Classified | Non- | Total | ||||||||||||||||||||||||
Mention | Loans | Performing | |||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||
Residential real estate | 59,711 | − | − | 2,365 | 62,076 | ||||||||||||||||||||||||
Multi-family and commercial real estate | 5,155 | 771 | 424 | 1,715 | 8,065 | ||||||||||||||||||||||||
Commercial | 1,772 | 24 | 99 | − | 1,895 | ||||||||||||||||||||||||
Home equity | 7,778 | − | − | 11 | 7,789 | ||||||||||||||||||||||||
Consumer | 574 | − | − | 71 | 645 | ||||||||||||||||||||||||
Construction | 817 | − | − | 56 | 873 | ||||||||||||||||||||||||
75,807 | 795 | 523 | 4,218 | 81,343 | |||||||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | 30-59 | 60- 89 | Greater | Total | Current | Total | |||||||||||||||||||||||
Days | Days | than 90 | Past Due | Loan Balances | |||||||||||||||||||||||||
Past Due | Past Due | Days | |||||||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||||||
Residential real estate | 347 | 1,230 | 1,797 | 3,374 | 58,702 | 62,076 | |||||||||||||||||||||||
Multi-family and commercial real estate | 369 | − | 947 | 1,316 | 6,749 | 8,065 | |||||||||||||||||||||||
Commercial | − | − | − | − | 1,895 | 1,895 | |||||||||||||||||||||||
Home Equity | 404 | − | 11 | 415 | 7,374 | 7,789 | |||||||||||||||||||||||
Consumer | − | − | 71 | 71 | 574 | 645 | |||||||||||||||||||||||
Construction | − | − | 56 | 56 | 817 | 873 | |||||||||||||||||||||||
Total Loans | 1,120 | 1,230 | 2,882 | 5,232 | 76,111 | 81,343 | |||||||||||||||||||||||
Percentage of Total Loans | 1.4 | % | 1.5 | % | 3.5 | % | 6.4 | % | 93.6 | % | 100 | % | |||||||||||||||||
Impaired Financing Receivables [Table Text Block] | December 31, | March 31, | |||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||
Impaired loans for which a valuation allowance has been provided | $ | − | $ | 846 | |||||||||||||||||||||||||
Impaired loans for which no valuation allowance has been provided | 4,977 | 5,175 | |||||||||||||||||||||||||||
Total loans determined to be impaired | $ | 4,977 | $ | 6,021 | |||||||||||||||||||||||||
Allowance for loans losses related to impaired loans | $ | − | $ | 288 | |||||||||||||||||||||||||
Average recorded investment in impaired loans | $ | 4,843 | $ | 5,964 | |||||||||||||||||||||||||
Cash basis interest income recognized on impaired Loans | $ | 158 | $ | 235 | |||||||||||||||||||||||||
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||
Investment | Principal | Valuation | Recorded | Income | |||||||||||||||||||||||||
Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||
While On | |||||||||||||||||||||||||||||
Impaired | |||||||||||||||||||||||||||||
Status | |||||||||||||||||||||||||||||
Impaired loans with no valuation allowance: | |||||||||||||||||||||||||||||
Residential real estate | $ | 2,886 | $ | 2,837 | $ | − | $ | 2,846 | $ | 46 | |||||||||||||||||||
Multi-family and commercial real estate | 2,014 | 1,967 | − | 1,722 | 103 | ||||||||||||||||||||||||
Commercial | 35 | 35 | − | 41 | 1 | ||||||||||||||||||||||||
Home equity | 11 | 11 | − | 159 | 5 | ||||||||||||||||||||||||
Consumer | 71 | 71 | − | 16 | 1 | ||||||||||||||||||||||||
Construction | 56 | 56 | − | 59 | 2 | ||||||||||||||||||||||||
Subtotal | $ | 5,073 | $ | 4,977 | $ | − | $ | 4,843 | $ | 158 | |||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Valuation | Recorded | Income | |||||||||||||||||||||||||
Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||
While On | |||||||||||||||||||||||||||||
Impaired | |||||||||||||||||||||||||||||
Status | |||||||||||||||||||||||||||||
Impaired loans with no valuation allowance: | |||||||||||||||||||||||||||||
Residential real estate | $ | 2,387 | $ | 2,345 | $ | − | $ | 2,185 | $ | 130 | |||||||||||||||||||
Multi-family and commercial real estate | 2,443 | 2,443 | − | 2,556 | 88 | ||||||||||||||||||||||||
Commercial | 108 | 108 | − | 183 | − | ||||||||||||||||||||||||
Home equity | 219 | 219 | − | 155 | 8 | ||||||||||||||||||||||||
Consumer | − | − | − | 4 | − | ||||||||||||||||||||||||
Construction | 60 | 60 | − | 51 | 3 | ||||||||||||||||||||||||
Subtotal | $ | 5,217 | $ | 5,175 | $ | − | $ | 5,134 | $ | 229 | |||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Valuation | Recorded | Income | |||||||||||||||||||||||||
Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||
While on | |||||||||||||||||||||||||||||
Impaired | |||||||||||||||||||||||||||||
Status | |||||||||||||||||||||||||||||
Impaired loans with a valuation allowance: | |||||||||||||||||||||||||||||
Residential real estate | $ | 153 | $ | 153 | $ | 28 | $ | 153 | $ | 6 | |||||||||||||||||||
Multi-family and commercial real estate | 693 | 693 | 260 | 677 | − | ||||||||||||||||||||||||
Commercial | − | − | − | − | − | ||||||||||||||||||||||||
Home equity | − | − | − | − | − | ||||||||||||||||||||||||
Consumer | − | − | − | − | − | ||||||||||||||||||||||||
Construction | − | − | − | − | − | ||||||||||||||||||||||||
Subtotal | $ | 846 | $ | 846 | $ | 288 | $ | 830 | $ | 6 | |||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Valuation | Recorded | Income | |||||||||||||||||||||||||
Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||
While on | |||||||||||||||||||||||||||||
Impaired | |||||||||||||||||||||||||||||
Status | |||||||||||||||||||||||||||||
Total impaired loans: | |||||||||||||||||||||||||||||
Residential real estate | $ | 2,540 | $ | 2,498 | $ | 28 | $ | 2,338 | $ | 136 | |||||||||||||||||||
Multi-family and commercial real estate | 3,136 | 3,136 | 260 | 3,233 | 88 | ||||||||||||||||||||||||
Commercial | 108 | 108 | − | 183 | − | ||||||||||||||||||||||||
Home equity | 219 | 219 | − | 155 | 8 | ||||||||||||||||||||||||
Consumer | − | − | − | 4 | − | ||||||||||||||||||||||||
Construction | 60 | 60 | − | 51 | 3 | ||||||||||||||||||||||||
Total | $ | 6,063 | $ | 6,021 | $ | 288 | $ | 5,964 | $ | 235 | |||||||||||||||||||
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | December 31, | March 31, | |||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||
Non-accrual loans: | |||||||||||||||||||||||||||||
Residential real estate | $ | 1,184 | $ | 1,277 | |||||||||||||||||||||||||
Multi-family and commercial real estate | 564 | 981 | |||||||||||||||||||||||||||
Commercial | − | 108 | |||||||||||||||||||||||||||
Consumer | 71 | − | |||||||||||||||||||||||||||
Home Equity | 11 | 219 | |||||||||||||||||||||||||||
Construction | − | − | |||||||||||||||||||||||||||
Total non-accrual loans | 1,830 | 2,585 | |||||||||||||||||||||||||||
Accruing loans past due 90 days or more: | |||||||||||||||||||||||||||||
Residential real estate | $ | − | $ | − | |||||||||||||||||||||||||
Multi-family and commercial real estate | − | 100 | |||||||||||||||||||||||||||
Commercial | − | − | |||||||||||||||||||||||||||
Consumer | − | − | |||||||||||||||||||||||||||
Home Equity | − | − | |||||||||||||||||||||||||||
Construction | − | − | |||||||||||||||||||||||||||
Total accruing loans past due 90 days or more | − | 100 | |||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||
In non-accrual status: | |||||||||||||||||||||||||||||
Residential real estate | $ | 613 | $ | 672 | |||||||||||||||||||||||||
Multi-family and commercial real estate | 439 | 847 | |||||||||||||||||||||||||||
Commercial | − | − | |||||||||||||||||||||||||||
Consumer | − | − | |||||||||||||||||||||||||||
Home Equity | − | − | |||||||||||||||||||||||||||
Construction | − | − | |||||||||||||||||||||||||||
Total troubled debt restructurings in non-accrual status | 1,052 | 1,519 | |||||||||||||||||||||||||||
Performing under modified terms: | |||||||||||||||||||||||||||||
Residential real estate | 567 | 548 | |||||||||||||||||||||||||||
Multi-family and commercial real estate | 768 | 1,309 | |||||||||||||||||||||||||||
Commercial | − | − | |||||||||||||||||||||||||||
Consumer | − | − | |||||||||||||||||||||||||||
Home Equity | − | − | |||||||||||||||||||||||||||
Construction | − | 60 | |||||||||||||||||||||||||||
Total troubled debt restructurings performing under modified terms: | 1,335 | 1,917 | |||||||||||||||||||||||||||
Total troubled debt restructurings | 2,387 | 3,436 | |||||||||||||||||||||||||||
Total non-performing loans | 4,217 | 6,121 | |||||||||||||||||||||||||||
Real estate owned | 2,713 | 1,950 | |||||||||||||||||||||||||||
Total non-performing assets | 6,930 | 8,071 | |||||||||||||||||||||||||||
Non-performing loans as a percentage of loans | 5.18 | % | 7.19 | % | |||||||||||||||||||||||||
Non-performing assets as a percentage of loans and real estate owned | 8.24 | % | 9.27 | % | |||||||||||||||||||||||||
Non-performing assets as percentage of total assets | 5.43 | % | 6.34 | % | |||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | 31-Dec-14 | 31-Mar-14 | |||||||||||||||||||||||||||
Outstanding Recorded | Outstanding Recorded | ||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||
Number of | Pre- | Post- | Number of | Pre- | Post- | ||||||||||||||||||||||||
Contracts | Modification | Modification | Contracts | Modification | Modification | ||||||||||||||||||||||||
Troubled debt restructurings: | |||||||||||||||||||||||||||||
Residential real estate | 1 | $ | 96 | $ | 110 | 1 | $ | 120 | $ | 123 | |||||||||||||||||||
Real Estate Owned [Table Text Block] | December 31, | March 31, | |||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||
Balance, beginning of period | $ | 1,950 | $ | 2,470 | |||||||||||||||||||||||||
Additions from loan foreclosures | 1,827 | 856 | |||||||||||||||||||||||||||
Additions from capitalized costs | − | 3 | |||||||||||||||||||||||||||
Dispositions of REO | (853 | ) | (690 | ) | |||||||||||||||||||||||||
Gain (loss) on sale of REO | (11 | ) | (86 | ) | |||||||||||||||||||||||||
Valuation adjustments in the period | (200 | ) | (603 | ) | |||||||||||||||||||||||||
Balance, end of period | $ | 2,713 | $ | 1,950 | |||||||||||||||||||||||||
December 31, | March 31, | ||||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||
Balance, beginning of period | $ | 676 | $ | 73 | |||||||||||||||||||||||||
Valuation adjustments added in the period | 393 | 675 | |||||||||||||||||||||||||||
Valuation adjustments on disposed properties during the period | (193 | ) | (72 | ) | |||||||||||||||||||||||||
Balance, end of period | $ | 876 | $ | 676 | |||||||||||||||||||||||||
Schedule of Charge-Offs [Table Text Block] | December 31, | March 31, | |||||||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||||||||
Balance at beginning of period | $ | 1,448 | $ | 1,033 | |||||||||||||||||||||||||
Provision: | |||||||||||||||||||||||||||||
Commercial | 73 | 141 | |||||||||||||||||||||||||||
Commercial real estate | 168 | 628 | |||||||||||||||||||||||||||
Residential real estate | 136 | 266 | |||||||||||||||||||||||||||
Home Equity | 12 | 21 | |||||||||||||||||||||||||||
Consumer | (13 | ) | (103 | ) | |||||||||||||||||||||||||
Construction | (1 | ) | 4 | ||||||||||||||||||||||||||
Total Provision | $ | 375 | $ | 957 | |||||||||||||||||||||||||
Charge-Offs: | |||||||||||||||||||||||||||||
Commercial | $ | 19 | $ | 127 | |||||||||||||||||||||||||
Commercial Real Estate | 594 | 378 | |||||||||||||||||||||||||||
Residential real estate | 113 | 100 | |||||||||||||||||||||||||||
Home Equity | − | 4 | |||||||||||||||||||||||||||
Consumer | 4 | 16 | |||||||||||||||||||||||||||
Recoveries | (86 | ) | (83 | ) | |||||||||||||||||||||||||
Total Net Charge-Offs | 644 | 542 | |||||||||||||||||||||||||||
Balance at end of period | $ | 1,179 | $ | 1,448 | |||||||||||||||||||||||||
Period-end loans outstanding | $ | 81,343 | $ | 85,084 | |||||||||||||||||||||||||
Average loans outstanding | $ | 81,219 | $ | 87,327 | |||||||||||||||||||||||||
Allowance as a percentage of period-end loans | 1.45 | % | 1.7 | % | |||||||||||||||||||||||||
Net charge-offs as a percentage of average loans | 0.79 | % | 0.62 | % | |||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Commercial | Commercial | Residential | Home | Consumer | Construction | Total | ||||||||||||||||||||||
Real Estate | Real Estate | Equity | |||||||||||||||||||||||||||
Balance, beginning of year | $ | 58 | $ | 635 | $ | 656 | $ | 65 | $ | 30 | $ | 4 | $ | 1,448 | |||||||||||||||
Loan charge-offs | (19 | ) | (594 | ) | (113 | ) | − | (4 | ) | − | (730 | ) | |||||||||||||||||
Recoveries | 1 | 62 | 7 | − | 16 | − | 86 | ||||||||||||||||||||||
Provision for loan losses | 73 | 168 | 136 | 12 | (13 | ) | (1 | ) | 375 | ||||||||||||||||||||
Balance, end of period | $ | 113 | $ | 271 | $ | 686 | $ | 77 | $ | 29 | $ | 3 | $ | 1,179 | |||||||||||||||
Ending balance for loans individually evaluated for impairment | $ | 35 | $ | 1,967 | $ | 2,837 | $ | 11 | $ | − | $ | 56 | $ | 4,906 | |||||||||||||||
Ending balance for loans collectively evaluated for impairment | 1,860 | 6,098 | 59,239 | 7,778 | 645 | 817 | $ | 76,437 | |||||||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Ending balance | $ | 1,895 | $ | 8,065 | $ | 62,076 | $ | 7,789 | $ | 645 | $ | 873 | $ | 81,343 | |||||||||||||||
Ending balance: loans individually evaluated for impairment | $ | 35 | $ | 1,967 | $ | 2,837 | $ | 11 | $ | − | $ | 56 | $ | 4,906 | |||||||||||||||
Ending balance: loans collectively evaluated for impairment | 1,860 | 6,098 | 59,239 | 7,778 | 645 | 817 | $ | 76,437 | |||||||||||||||||||||
Subsequent Default [Member] | |||||||||||||||||||||||||||||
Note 9 - Loans (Tables) [Line Items] | |||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||
Contracts | Investment | Contracts | Investment | ||||||||||||||||||||||||||
Troubled debt restructurings that subsequently defaulted: | |||||||||||||||||||||||||||||
Residential real estate | − | $ | − | - | $ | - |
Note_10_Investment_Securities_
Note 10 - Investment Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Held-to-maturity Securities [Table Text Block] | Held-to-Maturity | ||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Federal Farm Credit Bank Bond | $ | 5,944 | $ | 1 | $ | (138 | ) | $ | 5,807 | ||||||||||||||||
Federal Home Loan Bank Bonds | 7,069 | 10 | (151 | ) | 6,928 | ||||||||||||||||||||
Federal Home Loan Mortgage | |||||||||||||||||||||||||
Corporation Bonds | 1,997 | − | (47 | ) | 1,950 | ||||||||||||||||||||
Federal National Mortgage Association | 8,999 | 11 | (96 | ) | 8,914 | ||||||||||||||||||||
Municipal Bond | 470 | 4 | − | 474 | |||||||||||||||||||||
24,479 | 26 | (432 | ) | 24,073 | |||||||||||||||||||||
Mortgage-Backed Securities: | |||||||||||||||||||||||||
Federal Home Loan Mortgage Corporation | 484 | 33 | − | 517 | |||||||||||||||||||||
Federal National Mortgage Association | 509 | 49 | − | 558 | |||||||||||||||||||||
Government National Mortgage Corporation | 202 | 7 | − | 209 | |||||||||||||||||||||
1,195 | 89 | − | 1,284 | ||||||||||||||||||||||
Total | $ | 25,674 | $ | 115 | $ | (432 | ) | $ | 25,357 | ||||||||||||||||
Held-to-Maturity | |||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Federal Home Loan Bank Bonds | $ | 6,568 | $ | − | $ | (524 | ) | $ | 6,044 | ||||||||||||||||
Federal Farm Credit Bonds | 5,944 | − | (387 | ) | 5,557 | ||||||||||||||||||||
Federal Home Loan Mortgage Corporation Bonds | 1,997 | − | (167 | ) | 1,830 | ||||||||||||||||||||
Federal National Mortgage Association Bond | 10,498 | 17 | (597 | ) | 9,918 | ||||||||||||||||||||
Municipal Bond | 547 | 1 | − | 548 | |||||||||||||||||||||
25,554 | 18 | (1,675 | ) | 23,897 | |||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
Federal Home Loan Mortgage Corporation | 610 | 43 | (7 | ) | 646 | ||||||||||||||||||||
Federal National Mortgage Association | 583 | 54 | (4 | ) | 633 | ||||||||||||||||||||
Government National Mortgage Corporation | 229 | 7 | (2 | ) | 234 | ||||||||||||||||||||
1,422 | 104 | (13 | ) | 1,513 | |||||||||||||||||||||
Total | $ | 26,976 | $ | 122 | $ | (1,688 | ) | $ | 25,410 | ||||||||||||||||
Available-for-sale Securities [Table Text Block] | Available for Sale | ||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Federal Home Loan Bank Bonds | $ | 1,500 | $ | − | $ | (50 | ) | $ | 1,450 | ||||||||||||||||
Federal National Mortgage Association Bond | 500 | − | (25 | ) | 475 | ||||||||||||||||||||
Mutual Fund Shares | 164 | 1 | − | 165 | |||||||||||||||||||||
$ | 2,164 | $ | 1 | $ | (75 | ) | $ | 2,090 | |||||||||||||||||
Available for Sale | |||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Federal Home Loan Bank Bonds | $ | 1,500 | $ | − | $ | (148 | ) | $ | 1,352 | ||||||||||||||||
Federal National Mortgage Association Bond | 500 | − | (62 | ) | 438 | ||||||||||||||||||||
Mutual Fund Shares | 186 | − | (3 | ) | 183 | ||||||||||||||||||||
$ | 2,186 | $ | − | (213 | ) | $ | 1,973 | ||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | 31-Dec-14 | ||||||||||||||||||||||||
Held to Maturity | Available for Sale | ||||||||||||||||||||||||
(Dollars in Thousands) | Amortized | Fair Value | Amortized | Fair Value | |||||||||||||||||||||
Cost | Cost | ||||||||||||||||||||||||
Amounts maturing in: | |||||||||||||||||||||||||
One year or less | $ | 470 | $ | 474 | $ | − | $ | − | |||||||||||||||||
After one year through five years | 1,501 | 1,504 | − | − | |||||||||||||||||||||
After five years through ten years | 8,419 | 8,251 | − | − | |||||||||||||||||||||
After ten years | 15,284 | 15,128 | 2,000 | 1,925 | |||||||||||||||||||||
Equity securities | − | − | 164 | 165 | |||||||||||||||||||||
$ | 25,674 | $ | 25,357 | $ | 2,164 | $ | 2,090 | ||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||
Held to Maturity | Available for Sale | ||||||||||||||||||||||||
(Dollars in Thousands) | Amortized | Fair Value | Amortized | Fair Value | |||||||||||||||||||||
Cost | Cost | ||||||||||||||||||||||||
Amounts maturing in: | |||||||||||||||||||||||||
One year or less | $ | 547 | $ | 548 | $ | − | $ | − | |||||||||||||||||
After one year through five years | 1,502 | 1,500 | − | − | |||||||||||||||||||||
After five years through ten years | 8,418 | 7,928 | − | − | |||||||||||||||||||||
After ten years | 16,509 | 15,434 | 2,000 | 1,790 | |||||||||||||||||||||
Equity securities | − | − | 186 | 183 | |||||||||||||||||||||
$ | 26,976 | $ | 25,410 | $ | 2,186 | $ | 1,973 | ||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | 31-Dec-14 | ||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | |||||||||||||||||||||||
Fair Value | Gross | Fair Value | Gross | Fair Value | Gross | ||||||||||||||||||||
Unrealized | Unrealized | Unrealized | |||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Federal Home Loan Bank Bonds | $ | − | $ | − | $ | − | $ | (201 | ) | $ | 8,091 | $ | (201 | ) | |||||||||||
Federal Farm Credit Bonds | − | − | − | (138 | ) | 5,444 | (138 | ) | |||||||||||||||||
Federal Home Loan Mortgage Corporation Bonds | − | − | − | (47 | ) | 1,997 | (47 | ) | |||||||||||||||||
Federal National Mortgage Association | − | − | − | (121 | ) | 7,999 | (121 | ) | |||||||||||||||||
Total | $ | − | $ | − | $ | − | $ | (507 | ) | $ | 23,531 | $ | (507 | ) | |||||||||||
31-Mar-14 | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | |||||||||||||||||||||||
Fair Value | Gross | Fair Value | Gross | Fair Value | Gross | ||||||||||||||||||||
Unrealized | Unrealized | Unrealized | |||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Federal Home Loan Bank Bonds | $ | 3,606 | $ | (371 | ) | $ | 3,790 | $ | (301 | ) | $ | 7,396 | $ | (672 | ) | ||||||||||
Federal Farm Credit Bonds | 3,282 | (217 | ) | 1,775 | (171 | ) | 5,057 | (388 | ) | ||||||||||||||||
Federal Home Loan Mortgage Corporation Bonds | 1,100 | (77 | ) | 902 | (97 | ) | 2,002 | (174 | ) | ||||||||||||||||
Federal National Mortgage Association | 7,687 | (512 | ) | 1,349 | (151 | ) | 9,036 | (663 | ) | ||||||||||||||||
Mutual funds shares | 183 | (3 | ) | − | − | 183 | (3 | ) | |||||||||||||||||
15,858 | (1,180 | ) | 7,816 | (720 | ) | 23,674 | (1,900 | ) | |||||||||||||||||
Mortgage-Backed Securities: | |||||||||||||||||||||||||
Government National Mortgage Corporation | − | − | 26 | (1 | ) | 26 | (1 | ) | |||||||||||||||||
Total | $ | 15,858 | $ | (1,180 | ) | $ | 7,842 | $ | (721 | ) | $ | 23,700 | $ | (1,901 | ) |
Note_1_Basis_of_Presentation_D
Note 1 - Basis of Presentation (Details) (USD $) | 0 Months Ended |
Oct. 16, 2013 | |
Disclosure Text Block [Abstract] | |
Sale of Stock, Number of Shares Issued in Transaction | 525,423 |
Exchange of Common Stock Shares | 420,002 |
Proceeds from Reorganization and Stock Offering | $3,280,000 |
Costs from Reorganization and Stock Offering | $923,000 |
Note_3_Deferred_Income_Taxes_D
Note 3 - Deferred Income Taxes (Details) (USD $) | 9 Months Ended |
Dec. 31, 2014 | |
Note 3 - Deferred Income Taxes (Details) [Line Items] | |
GAAP Capital Ratio Basis Points in Excess of Tier 1 Regulatory Capital Ratio | 1.20% |
Liability for Uncertain Tax Positions, Current | 0 |
Earliest Tax Year [Member] | Federal and State Jurisdiction [Member] | |
Note 3 - Deferred Income Taxes (Details) [Line Items] | |
Open Tax Year | 2010 |
Latest Tax Year [Member] | Federal and State Jurisdiction [Member] | |
Note 3 - Deferred Income Taxes (Details) [Line Items] | |
Open Tax Year | 2013 |
Note_5_Earnings_Per_Share_Deta
Note 5 - Earnings Per Share (Details) | 9 Months Ended |
Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |
Exchange Ratio | 0.5711 |
Note_5_Earnings_Per_Share_Deta1
Note 5 - Earnings Per Share (Details) - Earnings Per Share Reconciliation (USD $) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | |
Earnings Per Share Reconciliation [Abstract] | ||||
Numerator | ($175,991) | ($230,110) | ($351,279) | ($239,338) |
Denominators: | ||||
Basic shares outstanding | 903,201 | 899,681 | 903,201 | 899,681 |
Dilutive shares outstanding | 903,201 | 899,681 | 903,201 | 899,681 |
Earnings per share: | ||||
Basic | ($0.19) | ($0.26) | ($0.39) | ($0.27) |
Dilutive | ($0.19) | ($0.26) | ($0.39) | ($0.27) |
Note_6_Regulatory_Agreement_De
Note 6 - Regulatory Agreement (Details) | Dec. 31, 2014 |
Disclosure Text Block Supplement [Abstract] | |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 8.00% |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 12.00% |
Capital Required for Capital Adequacy to Risk Weighted Assets | 13.00% |
Tier One Leverage Capital to Average Assets | 8.82% |
Tier One Risk Based Capital to Risk Weighted Assets | 15.73% |
Capital to Risk Weighted Assets | 16.99% |
Note_8_Fair_Value_of_Financial2
Note 8 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value on a Recurring Basis (USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
Note 8 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available-for-sale securities | $2,089,638 | $1,973,370 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 8 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available-for-sale securities | 165,000 | 183,000 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 8 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items] | ||
Available-for-sale securities | $1,925,000 | $1,790,000 |
Note_8_Fair_Value_of_Financial3
Note 8 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value On a Non-recurring Basis (Fair Value, Inputs, Level 3 [Member], USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Note 8 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value On a Non-recurring Basis [Line Items] | ||
Impaired loans | $80,856 | $83,059 |
Real estate owned | 2,713 | 1,950 |
Impaired Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Note 8 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value On a Non-recurring Basis [Line Items] | ||
Impaired loans | 4,977 | 6,021 |
Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Note 8 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value On a Non-recurring Basis [Line Items] | ||
Real estate owned | 2,713 | 1,950 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Note 8 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value On a Non-recurring Basis [Line Items] | ||
Total | $7,690 | $7,971 |
Note_8_Fair_Value_of_Financial4
Note 8 - Fair Value of Financial Instruments (Details) - Estimated Fair Value of Assets and Liabilities (USD $) | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
Financial Assets: | ||||
Cash and cash equivalents | $7,335,778 | $3,332,639 | $3,507,698 | $6,722,766 |
Loans b net | 80,078,612 | 83,539,442 | ||
FHLB stock | 306,300 | 271,300 | ||
Accrued interest receivable | 413,236 | 462,284 | ||
Bankbowned life insurance | 164,666 | 165,197 | ||
Real estate owned | 2,712,741 | 1,949,825 | 2,470,000 | |
Total financial assets | 127,516,837 | 127,396,362 | ||
Financial Liabilities: | ||||
Deposits | 109,021,496 | 110,624,699 | ||
Advance payments by borrowers for taxes and insurance | 312,756 | 328,815 | ||
Advances Federal Home Loan Bank | 4,000,000 | 2,000,000 | ||
Total financial liabilities | 113,985,320 | 113,644,359 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial Assets: | ||||
Cash and cash equivalents | 7,336,000 | 3,333,000 | ||
Investment securities | 165,000 | |||
FHLB stock | 306,000 | 271,000 | ||
Accrued interest receivable | 413,000 | 462,000 | ||
Bankbowned life insurance | 165,000 | 165,000 | ||
Total financial assets | 8,385,000 | 4,231,000 | ||
Financial Liabilities: | ||||
Deposits | 8,944,000 | 7,852,000 | ||
Advance payments by borrowers for taxes and insurance | 313,000 | 684,000 | ||
Advances Federal Home Loan Bank | 4,000,000 | 2,000,000 | ||
Accrued interest payable | 1,000 | 7,000 | ||
Total financial liabilities | 13,258,000 | 10,543,000 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial Assets: | ||||
Investment securities | 27,282,000 | 27,384,000 | ||
Total financial assets | 27,282,000 | 27,384,000 | ||
Financial Liabilities: | ||||
Deposits | 99,723,000 | 103,249,000 | ||
Total financial liabilities | 99,723,000 | 103,249,000 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial Assets: | ||||
Loans b net | 80,856,000 | 83,059,000 | ||
Real estate owned | 2,713,000 | 1,950,000 | ||
Total financial assets | 83,569,000 | 85,009,000 | ||
Reported Value Measurement [Member] | ||||
Financial Assets: | ||||
Cash and cash equivalents | 7,336,000 | 3,333,000 | ||
Investment securities | 27,838,000 | 29,162,000 | ||
Loans b net | 80,079,000 | 83,539,000 | ||
FHLB stock | 306,000 | 271,000 | ||
Accrued interest receivable | 413,000 | 462,000 | ||
Bankbowned life insurance | 165,000 | 165,000 | ||
Real estate owned | 2,713,000 | 1,950,000 | ||
Total financial assets | 118,850,000 | 118,882,000 | ||
Financial Liabilities: | ||||
Deposits | 109,021,000 | 110,625,000 | ||
Advance payments by borrowers for taxes and insurance | 313,000 | 684,000 | ||
Advances Federal Home Loan Bank | 4,000,000 | 2,000,000 | ||
Accrued interest payable | 1,000 | 7,000 | ||
Total financial liabilities | $113,335,000 | $113,316,000 |
Note_8_Fair_Value_of_Financial5
Note 8 - Fair Value of Financial Instruments (Details) - Off-balance Sheet Instruments (Commitments to Extend Credit [Member], USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Commitments to Extend Credit [Member] | ||
Off-balance sheet instruments | ||
Commitments to extend credit | $7,497 | $5,710 |
Commitments to extend credit |
Note_9_Loans_Details
Note 9 - Loans (Details) (USD $) | 9 Months Ended | 12 Months Ended | 0 Months Ended |
Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Note 9 - Loans (Details) [Line Items] | |||
Maximum Loan to One Borrower Limitation, Percentage of Capital Funds | 15.00% | ||
Maximum Loan to One Borrower Limitation | $1,800,000 | ||
Additional Loan to One Borrower Limitation if Collateralized, Percentage of Adjusted Capital Funds | 10.00% | ||
Adjusted Capital Funds Value | 1,200,000 | ||
Financing Receivable, Modifications, Number of Contracts | 19 | 23 | |
Financing Receivable, Recorded Investment, Nonaccrual Status and TDR | 2,900,000 | 4,100,000 | |
Impaired Financing Receivable, Average Recorded Investment | 4,843,000 | 5,964,000 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 158,000 | 235,000 | |
Allowance for Loan Loss to Loans Outstanding Ratio | 1.45% | ||
Increase (Decrease) in Non-performing Assets | -1,100,000 | ||
Non-performing Assets As Percentage Of Total Assets | 5.43% | 6.34% | |
Nonaccrual Status [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Increase (Decrease) in Finance Receivables | -1,200,000 | ||
Residential (One to Four Family) Real Estate [Member] | Maximum [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Loan Origination, Percentage of Appraised Value or Selling Price | 80.00% | ||
Owner Occupied Property [Member] | Maximum [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Loan Term | 30 years | ||
Non-Owner Occupied Property [Member] | Maximum [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Loan Term | 30 years | ||
Commercial Real Estate Portfolio Segment [Member] | Transfer to Real Estate Owned [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 3 | ||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 1,300,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Maximum [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Loan Origination, Percentage of Appraised Value or Selling Price | 80.00% | ||
Interest Rate Maturity Or Re-price | 7 years | ||
Loan Amortization Period | 25 years | ||
Commercial Real Estate Portfolio Segment [Member] | Minimum [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Interest Rate Maturity Or Re-price | 5 years | ||
Construction [Member] | Maximum [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Loan Term | 1 year | ||
Consumer Portfolio Segment [Member] | Downgraded Loans [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 71,000 | ||
Consumer Portfolio Segment [Member] | Maximum [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Loan Origination, Percentage of Appraised Value or Selling Price | 80.00% | ||
Entered Into Forbearance Agreements [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 3 | ||
Financing Receivable, Modifications, Recorded Investment | 811,000 | ||
Residential Portfolio Segment [Member] | Downgraded Loans [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 7 | ||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 1,500,000 | ||
Residential Portfolio Segment [Member] | Paid In Full [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 5 | ||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 935,000 | ||
Residential Portfolio Segment [Member] | Transfer to Real Estate Owned [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 4 | ||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 735,000 | ||
Commercial Loans [Member] | Downgraded Loans [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 5 | ||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 709,000 | ||
Commercial Loans [Member] | Paid In Full [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 56,000 | ||
Commercial Loans [Member] | Returned to Accruing Status [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 128,000 | ||
Commercial Loans [Member] | Paid Off in Short Sale [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 108,000 | ||
Commercial Loans [Member] | Total Charge-offs [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 19,000 | ||
Commercial Loans [Member] | Transfer to Real Estate Owned [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 3 | ||
Commercial Loans [Member] | Partial Charge-offs [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 230,000 | ||
Home Equity Loans [Member] | Downgraded Loans [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 11,000 | ||
Home Equity Loans [Member] | Paid In Full [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 2 | ||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 219,000 | ||
Downgraded Loans [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 12 | ||
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | 2,300,000 | ||
Total Charge-offs [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 2 | 3 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | 23,000 | 111,000 | |
Partial Charge-offs [Member] | |||
Note 9 - Loans (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 14 | 11 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | $708,000 | $514,000 |
Note_9_Loans_Details_Loans
Note 9 - Loans (Details) - Loans (USD $) | Dec. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $81,343,000 | $85,084,000 | |
Net deferred loan origination fees | -85,000 | -97,000 | |
Allowance for loan losses | -1,178,798 | -1,448,298 | -1,033,000 |
Loans, net | 80,078,612 | 83,539,442 | |
Residential (One to Four Family) Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 62,076,000 | 63,524,000 | |
Multi-Family and Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 8,065,000 | 10,414,000 | |
Commercial Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 1,895,000 | 1,307,000 | |
Allowance for loan losses | -113,000 | -58,000 | |
Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 7,789,000 | 8,144,000 | |
Allowance for loan losses | -77,000 | -65,000 | |
Consumer Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 645,000 | 686,000 | |
Allowance for loan losses | -29,000 | -30,000 | |
Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 873,000 | 1,009,000 | |
Allowance for loan losses | ($3,000) | ($4,000) |
Note_9_Loans_Details_Loans_by_
Note 9 - Loans (Details) - Loans by Credit Quality Indicator (USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $81,343 | $85,084 |
Residential (One to Four Family) Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 59,711 | |
Residential (One to Four Family) Real Estate [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,365 | |
Residential (One to Four Family) Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 62,076 | 63,524 |
Multi-Family and Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,155 | |
Multi-Family and Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 771 | |
Multi-Family and Commercial Real Estate [Member] | Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 424 | |
Multi-Family and Commercial Real Estate [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,715 | |
Multi-Family and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,065 | 10,414 |
Commercial Loan [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,772 | |
Commercial Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 24 | |
Commercial Loan [Member] | Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 99 | |
Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,895 | 1,307 |
Home Equity Line of Credit [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 7,778 | |
Home Equity Line of Credit [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11 | |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 7,789 | 8,144 |
Consumer Loan [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 574 | |
Consumer Loan [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 71 | |
Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 645 | 686 |
Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 817 | |
Construction [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 56 | |
Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 873 | 1,009 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 75,807 | |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 795 | |
Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 523 | |
Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $4,218 |
Note_9_Loans_Details_PastDue_L
Note 9 - Loans (Details) - Past-Due Loans (USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-59 days past due | $1,120 | |
Loans, 60- 89 days past due | 1,230 | |
Loans, greater than 90 days past due | 2,882 | |
Loans, total past due | 5,232 | |
Loans, current | 76,111 | |
Loans | 81,343 | 85,084 |
Percentage of Total Loans | 1.40% | |
Percentage of Total Loans | 1.50% | |
Percentage of Total Loans | 3.50% | |
Percentage of Total Loans | 6.40% | |
Percentage of Total Loans | 93.60% | |
Percentage of Total Loans | 100.00% | |
Residential (One to Four Family) Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-59 days past due | 347 | |
Loans, 60- 89 days past due | 1,230 | |
Loans, greater than 90 days past due | 1,797 | |
Loans, total past due | 3,374 | |
Loans, current | 58,702 | |
Loans | 62,076 | 63,524 |
Multi-Family and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-59 days past due | 369 | |
Loans, greater than 90 days past due | 947 | |
Loans, total past due | 1,316 | |
Loans, current | 6,749 | |
Loans | 8,065 | 10,414 |
Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current | 1,895 | |
Loans | 1,895 | 1,307 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, 30-59 days past due | 404 | |
Loans, greater than 90 days past due | 11 | |
Loans, total past due | 415 | |
Loans, current | 7,374 | |
Loans | 7,789 | 8,144 |
Consumer Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, greater than 90 days past due | 71 | |
Loans, total past due | 71 | |
Loans, current | 574 | |
Loans | 645 | 686 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, greater than 90 days past due | 56 | |
Loans, total past due | 56 | |
Loans, current | 817 | |
Loans | $873 | $1,009 |
Note_9_Loans_Details_Impaired_
Note 9 - Loans (Details) - Impaired Loans (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Mar. 31, 2014 |
Impaired Loans [Abstract] | ||
Impaired loans for which a valuation allowance has been provided | $846 | |
Impaired loans for which no valuation allowance has been provided | 4,977 | 5,175 |
Total loans determined to be impaired | 4,977 | 6,021 |
Allowance for loans losses related to impaired loans | 288 | |
Average recorded investment in impaired loans | 4,843 | 5,964 |
Cash basis interest income recognized on impaired Loans | $158 | $235 |
Note_9_Loans_Details_Impaired_1
Note 9 - Loans (Details) - Impaired Loans by Portfolio (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Mar. 31, 2014 |
Note 9 - Loans (Details) - Impaired Loans by Portfolio [Line Items] | ||
Impaired loans with no valuation allowance, recorded investment | $5,073 | $5,217 |
Impaired loans with no valuation allowance, unpaid principal balance | 4,977 | 5,175 |
Impaired loans with no valuation allowance, average recorded investment | 4,843 | 5,134 |
Impaired loans with no valuation allowance, interest income recognized while on impaired statues | 158 | 229 |
Impaired loans with a valuation allowance, recorded investment | 846 | |
Impaired loans with a valuation allowance, unpaid principal balance | 846 | |
Impaired loans, related valuation allowance | 288 | |
Impaired loans with a valuation allowance, average recorded investment | 830 | |
Impaired loans with a valuation allowance, interest income recognized while on impaired statues | 6 | |
Impaired loans, recorded investment | 6,063 | |
Impaired loans, unpaid principal balance | 4,977 | 6,021 |
Impaired loans, average recorded investment | 4,843 | 5,964 |
Impaired loans, interest income recognized while on impaired statues | 235 | |
Residential (One to Four Family) Real Estate [Member] | ||
Note 9 - Loans (Details) - Impaired Loans by Portfolio [Line Items] | ||
Impaired loans with no valuation allowance, recorded investment | 2,886 | 2,387 |
Impaired loans with no valuation allowance, unpaid principal balance | 2,837 | 2,345 |
Impaired loans with no valuation allowance, average recorded investment | 2,846 | 2,185 |
Impaired loans with no valuation allowance, interest income recognized while on impaired statues | 46 | 130 |
Impaired loans with a valuation allowance, recorded investment | 153 | |
Impaired loans with a valuation allowance, unpaid principal balance | 153 | |
Impaired loans, related valuation allowance | 28 | |
Impaired loans with a valuation allowance, average recorded investment | 153 | |
Impaired loans with a valuation allowance, interest income recognized while on impaired statues | 6 | |
Impaired loans, recorded investment | 2,540 | |
Impaired loans, unpaid principal balance | 2,498 | |
Impaired loans, average recorded investment | 2,338 | |
Impaired loans, interest income recognized while on impaired statues | 136 | |
Multi-Family and Commercial Real Estate [Member] | ||
Note 9 - Loans (Details) - Impaired Loans by Portfolio [Line Items] | ||
Impaired loans with no valuation allowance, recorded investment | 2,014 | 2,443 |
Impaired loans with no valuation allowance, unpaid principal balance | 1,967 | 2,443 |
Impaired loans with no valuation allowance, average recorded investment | 1,722 | 2,556 |
Impaired loans with no valuation allowance, interest income recognized while on impaired statues | 103 | 88 |
Impaired loans with a valuation allowance, recorded investment | 693 | |
Impaired loans with a valuation allowance, unpaid principal balance | 693 | |
Impaired loans, related valuation allowance | 260 | |
Impaired loans with a valuation allowance, average recorded investment | 677 | |
Impaired loans, recorded investment | 3,136 | |
Impaired loans, unpaid principal balance | 3,136 | |
Impaired loans, average recorded investment | 3,233 | |
Impaired loans, interest income recognized while on impaired statues | 88 | |
Commercial Loan [Member] | ||
Note 9 - Loans (Details) - Impaired Loans by Portfolio [Line Items] | ||
Impaired loans with no valuation allowance, recorded investment | 35 | 108 |
Impaired loans with no valuation allowance, unpaid principal balance | 35 | 108 |
Impaired loans with no valuation allowance, average recorded investment | 41 | 183 |
Impaired loans with no valuation allowance, interest income recognized while on impaired statues | 1 | |
Impaired loans, recorded investment | 108 | |
Impaired loans, unpaid principal balance | 108 | |
Impaired loans, average recorded investment | 183 | |
Home Equity Line of Credit [Member] | ||
Note 9 - Loans (Details) - Impaired Loans by Portfolio [Line Items] | ||
Impaired loans with no valuation allowance, recorded investment | 11 | 219 |
Impaired loans with no valuation allowance, unpaid principal balance | 11 | 219 |
Impaired loans with no valuation allowance, average recorded investment | 159 | 155 |
Impaired loans with no valuation allowance, interest income recognized while on impaired statues | 5 | 8 |
Impaired loans, recorded investment | 219 | |
Impaired loans, unpaid principal balance | 219 | |
Impaired loans, average recorded investment | 155 | |
Impaired loans, interest income recognized while on impaired statues | 8 | |
Consumer Loan [Member] | ||
Note 9 - Loans (Details) - Impaired Loans by Portfolio [Line Items] | ||
Impaired loans with no valuation allowance, recorded investment | 71 | |
Impaired loans with no valuation allowance, unpaid principal balance | 71 | |
Impaired loans with no valuation allowance, average recorded investment | 16 | 4 |
Impaired loans with no valuation allowance, interest income recognized while on impaired statues | 1 | |
Impaired loans, average recorded investment | 4 | |
Construction [Member] | ||
Note 9 - Loans (Details) - Impaired Loans by Portfolio [Line Items] | ||
Impaired loans with no valuation allowance, recorded investment | 56 | 60 |
Impaired loans with no valuation allowance, unpaid principal balance | 56 | 60 |
Impaired loans with no valuation allowance, average recorded investment | 59 | 51 |
Impaired loans with no valuation allowance, interest income recognized while on impaired statues | 2 | 3 |
Impaired loans, recorded investment | 60 | |
Impaired loans, unpaid principal balance | 60 | |
Impaired loans, average recorded investment | 51 | |
Impaired loans, interest income recognized while on impaired statues | $3 |
Note_9_Loans_Details_Nonaccrua
Note 9 - Loans (Details) - Nonaccrual Loans (USD $) | 0 Months Ended | ||||
Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | |
Non-accrual loans: | |||||
Non-accrual loans | $1,830,000 | $2,585,000 | $1,830,000 | $2,585,000 | |
Accruing loans past due 90 days or more: | |||||
90 days past due and still accruing | 100,000 | 100,000 | |||
Troubled Debt Restructurings: | |||||
Trouble debt restructurings | 2,387,000 | 3,436,000 | |||
Total non-performing loans | 6,063,000 | 6,063,000 | |||
Real estate owned | 2,712,741 | 1,949,825 | 2,712,741 | 1,949,825 | 2,470,000 |
Total non-performing assets | 6,930,000 | 8,071,000 | 6,930,000 | 8,071,000 | |
Non-performing loans as a percentage of loans | 5.18% | 7.19% | 5.18% | 7.19% | |
Non-performing assets as a percentage of loans and real estate owned | 8.24% | 9.27% | 8.24% | 9.27% | |
Non-performing assets as percentage of total assets | 5.43% | 6.34% | 5.43% | 6.34% | |
In Non-accrual Status [Member] | Residential (One to Four Family) Real Estate [Member] | |||||
Troubled Debt Restructurings: | |||||
Trouble debt restructurings | 613,000 | 672,000 | |||
In Non-accrual Status [Member] | Multi-Family and Commercial Real Estate [Member] | |||||
Troubled Debt Restructurings: | |||||
Trouble debt restructurings | 439,000 | 847,000 | |||
In Non-accrual Status [Member] | |||||
Troubled Debt Restructurings: | |||||
Trouble debt restructurings | 1,052,000 | 1,519,000 | |||
Performing Under Modified Terms [Member] | Residential (One to Four Family) Real Estate [Member] | |||||
Troubled Debt Restructurings: | |||||
Trouble debt restructurings | 567,000 | 548,000 | |||
Performing Under Modified Terms [Member] | Multi-Family and Commercial Real Estate [Member] | |||||
Troubled Debt Restructurings: | |||||
Trouble debt restructurings | 768,000 | 1,309,000 | |||
Performing Under Modified Terms [Member] | Construction [Member] | |||||
Troubled Debt Restructurings: | |||||
Trouble debt restructurings | 60,000 | ||||
Performing Under Modified Terms [Member] | |||||
Troubled Debt Restructurings: | |||||
Trouble debt restructurings | 1,335,000 | 1,917,000 | |||
Residential (One to Four Family) Real Estate [Member] | |||||
Non-accrual loans: | |||||
Non-accrual loans | 1,184,000 | 1,277,000 | 1,184,000 | 1,277,000 | |
Troubled Debt Restructurings: | |||||
Total non-performing loans | 2,540,000 | 2,540,000 | |||
Multi-Family and Commercial Real Estate [Member] | |||||
Non-accrual loans: | |||||
Non-accrual loans | 564,000 | 981,000 | 564,000 | 981,000 | |
Accruing loans past due 90 days or more: | |||||
90 days past due and still accruing | 100,000 | 100,000 | |||
Troubled Debt Restructurings: | |||||
Total non-performing loans | 3,136,000 | 3,136,000 | |||
Commercial Loan [Member] | |||||
Non-accrual loans: | |||||
Non-accrual loans | 108,000 | 108,000 | |||
Troubled Debt Restructurings: | |||||
Total non-performing loans | 108,000 | 108,000 | |||
Consumer Loan [Member] | |||||
Non-accrual loans: | |||||
Non-accrual loans | 71,000 | 71,000 | |||
Home Equity Line of Credit [Member] | |||||
Non-accrual loans: | |||||
Non-accrual loans | 11,000 | 219,000 | 11,000 | 219,000 | |
Troubled Debt Restructurings: | |||||
Total non-performing loans | 219,000 | 219,000 | |||
Construction [Member] | |||||
Troubled Debt Restructurings: | |||||
Total non-performing loans | 60,000 | 60,000 | |||
Nonperforming Financing Receivable [Member] | |||||
Troubled Debt Restructurings: | |||||
Total non-performing loans | $4,217,000 | $6,121,000 | $4,217,000 | $6,121,000 |
Note_9_Loans_Details_Troubled_
Note 9 - Loans (Details) - Troubled Debt Restructurings (USD $) | 0 Months Ended | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2014 | Mar. 31, 2014 |
Troubled debt restructurings: | ||||
Residential real estate | 19 | 23 | ||
Residential real estate | $2,387 | $3,436 | ||
Residential Portfolio Segment [Member] | ||||
Troubled debt restructurings: | ||||
Residential real estate | 1 | 1 | ||
Residential real estate | 96 | 120 | ||
Residential real estate | 110 | 123 |
Note_9_Loans_Details_Troubled_1
Note 9 - Loans (Details) - Troubled Debt Restructurings Subsequently Defaulted (Residential Portfolio Segment [Member], USD $) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Mar. 31, 2014 | |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Residential real estate | ||
Residential real estate |
Note_9_Loans_Details_Real_Esta
Note 9 - Loans (Details) - Real Estate Owned (REO), Net of Valuation Allowance (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | |
Real Estate Owned (REO), Net of Valuation Allowance [Abstract] | ||||
Balance, beginning of period | $1,949,825 | $2,470,000 | $2,470,000 | |
Balance, end of period | 2,712,741 | 2,712,741 | 1,949,825 | |
Balance, beginning of period | 676,000 | 73,000 | 73,000 | |
Balance, end of period | 876,000 | 876,000 | 676,000 | |
Additions from loan foreclosures | 1,827,367 | 856,353 | 856,000 | |
Additions from capitalized costs | 3,000 | |||
Dispositions of REO | -853,000 | -690,000 | ||
Gain (loss) on sale of REO | -11,078 | -11,078 | -85,681 | -86,000 |
Valuation adjustments in the period | -200,000 | -603,000 | ||
Valuation adjustments added in the period | 393,000 | 675,000 | ||
Valuation adjustments on disposed properties during the period | ($193,000) | ($72,000) |
Note_9_Loans_Details_Allowance
Note 9 - Loans (Details) - Allowance for Losses on Loans and Charge-Offs (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | |
Note 9 - Loans (Details) - Allowance for Losses on Loans and Charge-Offs [Line Items] | ||||
Balance | $1,448,298 | $1,033,000 | $1,033,000 | |
Period-end loans outstanding | 81,343,000 | 85,084,000 | ||
Average loans outstanding | 81,219,000 | 87,327,000 | ||
Allowance as a percentage of period-end loans | 1.45% | 1.70% | ||
Net charge-offs as a percentage of average loans | 0.79% | 0.62% | ||
Allowance for loan losses, provision for loss | 406,557 | 375,000 | 613,057 | 957,000 |
Allowance for loan losses, charge-offs | 730,000 | |||
Recoveries | -86,000 | -83,000 | ||
Total Net Charge-Offs | 644,000 | 542,000 | ||
Balance | 1,178,798 | 1,448,298 | ||
Commercial Loan [Member] | ||||
Note 9 - Loans (Details) - Allowance for Losses on Loans and Charge-Offs [Line Items] | ||||
Balance | 58,000 | |||
Period-end loans outstanding | 1,895,000 | 1,307,000 | ||
Allowance for loan losses, provision for loss | 73,000 | 141,000 | ||
Allowance for loan losses, charge-offs | 19,000 | 127,000 | ||
Recoveries | -1,000 | |||
Balance | 113,000 | 58,000 | ||
Commercial Real Estate [Member] | ||||
Note 9 - Loans (Details) - Allowance for Losses on Loans and Charge-Offs [Line Items] | ||||
Balance | 635,000 | |||
Period-end loans outstanding | 8,065,000 | |||
Allowance for loan losses, provision for loss | 168,000 | 628,000 | ||
Allowance for loan losses, charge-offs | 594,000 | 378,000 | ||
Recoveries | -62,000 | |||
Balance | 271,000 | 635,000 | ||
Residential Portfolio Segment [Member] | ||||
Note 9 - Loans (Details) - Allowance for Losses on Loans and Charge-Offs [Line Items] | ||||
Balance | 656,000 | |||
Period-end loans outstanding | 62,076,000 | |||
Allowance for loan losses, provision for loss | 136,000 | 266,000 | ||
Allowance for loan losses, charge-offs | 113,000 | 100,000 | ||
Recoveries | -7,000 | |||
Balance | 686,000 | 656,000 | ||
Home Equity Line of Credit [Member] | ||||
Note 9 - Loans (Details) - Allowance for Losses on Loans and Charge-Offs [Line Items] | ||||
Balance | 65,000 | |||
Period-end loans outstanding | 7,789,000 | 8,144,000 | ||
Allowance for loan losses, provision for loss | 12,000 | 21,000 | ||
Allowance for loan losses, charge-offs | 4,000 | |||
Balance | 77,000 | 65,000 | ||
Consumer Loan [Member] | ||||
Note 9 - Loans (Details) - Allowance for Losses on Loans and Charge-Offs [Line Items] | ||||
Balance | 30,000 | |||
Period-end loans outstanding | 645,000 | 686,000 | ||
Allowance for loan losses, provision for loss | -13,000 | -103,000 | ||
Allowance for loan losses, charge-offs | 4,000 | 16,000 | ||
Recoveries | -16,000 | |||
Balance | 29,000 | 30,000 | ||
Construction [Member] | ||||
Note 9 - Loans (Details) - Allowance for Losses on Loans and Charge-Offs [Line Items] | ||||
Balance | 4,000 | |||
Period-end loans outstanding | 873,000 | 1,009,000 | ||
Allowance for loan losses, provision for loss | -1,000 | 4,000 | ||
Balance | $3,000 | $4,000 |
Note_9_Loans_Details_Allowance1
Note 9 - Loans (Details) - Allowance for Loan Losses (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance | $1,448,298 | $1,033,000 | $1,033,000 | |
Ending balance for loans individually evaluated for impairment | 4,906,000 | |||
Ending balance for loans collectively evaluated for impairment | 76,437,000 | |||
Ending balance | 81,343,000 | 85,084,000 | ||
Ending balance: loans individually evaluated for impairment | 4,906,000 | |||
Ending balance: loans collectively evaluated for impairment | 76,437,000 | |||
Loan charge-offs | -730,000 | |||
Recoveries | 86,000 | 83,000 | ||
Provision for loan losses | 406,557 | 375,000 | 613,057 | 957,000 |
Balance | 1,178,798 | 1,448,298 | ||
Commercial Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance | 58,000 | |||
Ending balance for loans individually evaluated for impairment | 35,000 | |||
Ending balance for loans collectively evaluated for impairment | 1,860,000 | |||
Ending balance | 1,895,000 | 1,307,000 | ||
Ending balance: loans individually evaluated for impairment | 35,000 | |||
Ending balance: loans collectively evaluated for impairment | 1,860,000 | |||
Loan charge-offs | -19,000 | -127,000 | ||
Recoveries | 1,000 | |||
Provision for loan losses | 73,000 | 141,000 | ||
Balance | 113,000 | 58,000 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance | 635,000 | |||
Ending balance for loans individually evaluated for impairment | 1,967,000 | |||
Ending balance for loans collectively evaluated for impairment | 6,098,000 | |||
Ending balance | 8,065,000 | |||
Ending balance: loans individually evaluated for impairment | 1,967,000 | |||
Ending balance: loans collectively evaluated for impairment | 6,098,000 | |||
Loan charge-offs | -594,000 | -378,000 | ||
Recoveries | 62,000 | |||
Provision for loan losses | 168,000 | 628,000 | ||
Balance | 271,000 | 635,000 | ||
Residential Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance | 656,000 | |||
Ending balance for loans individually evaluated for impairment | 2,837,000 | |||
Ending balance for loans collectively evaluated for impairment | 59,239,000 | |||
Ending balance | 62,076,000 | |||
Ending balance: loans individually evaluated for impairment | 2,837,000 | |||
Ending balance: loans collectively evaluated for impairment | 59,239,000 | |||
Loan charge-offs | -113,000 | -100,000 | ||
Recoveries | 7,000 | |||
Provision for loan losses | 136,000 | 266,000 | ||
Balance | 686,000 | 656,000 | ||
Home Equity Line of Credit [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance | 65,000 | |||
Ending balance for loans individually evaluated for impairment | 11,000 | |||
Ending balance for loans collectively evaluated for impairment | 7,778,000 | |||
Ending balance | 7,789,000 | 8,144,000 | ||
Ending balance: loans individually evaluated for impairment | 11,000 | |||
Ending balance: loans collectively evaluated for impairment | 7,778,000 | |||
Loan charge-offs | -4,000 | |||
Provision for loan losses | 12,000 | 21,000 | ||
Balance | 77,000 | 65,000 | ||
Consumer Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance | 30,000 | |||
Ending balance for loans collectively evaluated for impairment | 645,000 | |||
Ending balance | 645,000 | 686,000 | ||
Ending balance: loans collectively evaluated for impairment | 645,000 | |||
Loan charge-offs | -4,000 | -16,000 | ||
Recoveries | 16,000 | |||
Provision for loan losses | -13,000 | -103,000 | ||
Balance | 29,000 | 30,000 | ||
Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance | 4,000 | |||
Ending balance for loans individually evaluated for impairment | 56,000 | |||
Ending balance for loans collectively evaluated for impairment | 817,000 | |||
Ending balance | 873,000 | 1,009,000 | ||
Ending balance: loans individually evaluated for impairment | 56,000 | |||
Ending balance: loans collectively evaluated for impairment | 817,000 | |||
Provision for loan losses | -1,000 | 4,000 | ||
Balance | $3,000 | $4,000 |
Note_10_Investment_Securities_1
Note 10 - Investment Securities (Details) | Dec. 31, 2014 |
Investments, Debt and Equity Securities [Abstract] | |
Held-to-maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 47 |
Securities in Unrealized Loss Positions, Depreciated Percentage from Amortized Cost | 0.02% |
Note_10_Investment_Securities_2
Note 10 - Investment Securities (Details) - Held-to-Maturity Securities (USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities, amortized cost | $25,674,000 | $26,976,000 |
Held-to-maturity securities, gross unrealized gains | 115,000 | 122,000 |
Held-to-maturity securities, gross unrealized losses | -432,000 | -1,688,000 |
Held-to-maturity securities, fair value | 25,357,207 | 25,410,461 |
Federal Farm Credit Bonds [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities, amortized cost | 5,944,000 | 5,944,000 |
Held-to-maturity securities, gross unrealized gains | 1,000 | |
Held-to-maturity securities, gross unrealized losses | -138,000 | -387,000 |
Held-to-maturity securities, fair value | 5,807,000 | 5,557,000 |
Federal Home Loan Bank Bonds [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities, amortized cost | 7,069,000 | 6,568,000 |
Held-to-maturity securities, gross unrealized gains | 10,000 | |
Held-to-maturity securities, gross unrealized losses | -151,000 | -524,000 |
Held-to-maturity securities, fair value | 6,928,000 | 6,044,000 |
Federal Home Loan Mortgage Corporation Bonds [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities, amortized cost | 1,997,000 | 1,997,000 |
Held-to-maturity securities, gross unrealized losses | -47,000 | -167,000 |
Held-to-maturity securities, fair value | 1,950,000 | 1,830,000 |
Federal National Mortgage Association [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities, amortized cost | 8,999,000 | 10,498,000 |
Held-to-maturity securities, gross unrealized gains | 11,000 | 17,000 |
Held-to-maturity securities, gross unrealized losses | -96,000 | -597,000 |
Held-to-maturity securities, fair value | 8,914,000 | 9,918,000 |
Municipal Bond [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities, amortized cost | 470,000 | 547,000 |
Held-to-maturity securities, gross unrealized gains | 4,000 | 1,000 |
Held-to-maturity securities, fair value | 474,000 | 548,000 |
Total Bonds [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities, amortized cost | 24,479,000 | 25,554,000 |
Held-to-maturity securities, gross unrealized gains | 26,000 | 18,000 |
Held-to-maturity securities, gross unrealized losses | -432,000 | -1,675,000 |
Held-to-maturity securities, fair value | 24,073,000 | 23,897,000 |
Federal Home Loan Mortgage Corporation [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities, amortized cost | 484,000 | 610,000 |
Held-to-maturity securities, gross unrealized gains | 33,000 | 43,000 |
Held-to-maturity securities, gross unrealized losses | -7,000 | |
Held-to-maturity securities, fair value | 517,000 | 646,000 |
Federal National Mortgage Association Mortgage Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities, amortized cost | 509,000 | 583,000 |
Held-to-maturity securities, gross unrealized gains | 49,000 | 54,000 |
Held-to-maturity securities, gross unrealized losses | -4,000 | |
Held-to-maturity securities, fair value | 558,000 | 633,000 |
Government National Mortgage Corporation [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities, amortized cost | 202,000 | 229,000 |
Held-to-maturity securities, gross unrealized gains | 7,000 | 7,000 |
Held-to-maturity securities, gross unrealized losses | -2,000 | |
Held-to-maturity securities, fair value | 209,000 | 234,000 |
Total Mortgage-Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities, amortized cost | 1,195,000 | 1,422,000 |
Held-to-maturity securities, gross unrealized gains | 89,000 | 104,000 |
Held-to-maturity securities, gross unrealized losses | -13,000 | |
Held-to-maturity securities, fair value | $1,284,000 | $1,513,000 |
Note_10_Investment_Securities_3
Note 10 - Investment Securities (Details) - Available for Sale Securities (USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale securities, amortized cost | $2,164,205 | $2,185,959 |
Available for sale securities, gross unrealized gains | 1,000 | |
Available for sale securities, gross unrealized losses | -75,000 | -213,000 |
Available for sale securities, fair value | 2,089,638 | 1,973,370 |
Federal Home Loan Bank Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale securities, amortized cost | 1,500,000 | 1,500,000 |
Available for sale securities, gross unrealized losses | -50,000 | -148,000 |
Available for sale securities, fair value | 1,450,000 | 1,352,000 |
Federal National Mortgage Association [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale securities, amortized cost | 500,000 | 500,000 |
Available for sale securities, gross unrealized losses | -25,000 | -62,000 |
Available for sale securities, fair value | 475,000 | 438,000 |
Mutual Fund Shares [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale securities, amortized cost | 164,000 | 186,000 |
Available for sale securities, gross unrealized gains | 1,000 | |
Available for sale securities, gross unrealized losses | -3,000 | |
Available for sale securities, fair value | $165,000 | $183,000 |
Note_10_Investment_Securities_4
Note 10 - Investment Securities (Details) - Maturities of Securities (USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
Maturities of Securities [Abstract] | ||
Held-to-maturity securities, amortized cost, one year or less | $470,000 | $547,000 |
Held-to-maturity securities, fair value, one year or less | 474,000 | 548,000 |
Held-to-maturity securities, amortized cost , after one year through five years | 1,501,000 | 1,502,000 |
Held-to-maturity securities, fair value, after one year through five years | 1,504,000 | 1,500,000 |
Held-to-maturity securities, amortized cost, after five years through ten years | 8,419,000 | 8,418,000 |
Held-to-maturity securities, fair value, after five years through ten years | 8,251,000 | 7,928,000 |
Held-to-maturity securities, amortized cost, after ten years | 15,284,000 | 16,509,000 |
Held-to-maturity securities, fair value, after ten years | 15,128,000 | 15,434,000 |
Available for sale securities, amortized cost, after ten years | 2,000,000 | 2,000,000 |
Available for sale securities, fair value, after ten years | 1,925,000 | 1,790,000 |
Available for sale securities, amortized cost, equity securities | 164,000 | 186,000 |
Available for sale securities, fair value, equity securities | 165,000 | 183,000 |
Held to maturity securities, amortized cost | 25,674,123 | 26,975,907 |
Held to maturity securities, fair value | 25,357,207 | 25,410,461 |
Available for sale securities, amortized cost | 2,164,000 | 2,186,000 |
Available for sale securities, fair value | $2,089,638 | $1,973,370 |
Note_10_Investment_Securities_5
Note 10 - Investment Securities (Details) - Securities With Gross Unrealized Losses (USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Note 10 - Investment Securities (Details) - Securities With Gross Unrealized Losses [Line Items] | ||
Securities with unrealized losses, less than 12 months, fair value | $15,858 | |
Securities with unrealized losses, less than 12 months, gross unrealized losses | -1,180 | |
Securities with unrealized losses, 12 months or greater, fair value | 7,842 | |
Securities with unrealized losses, 12 months or greater, gross unrealized losses | -507 | -721 |
Securities with unrealized losses, fair value | 23,531 | 23,700 |
Securities with unrealized losses, gross unrealized losses | -507 | -1,901 |
Federal Home Loan Bank Bonds [Member] | ||
Note 10 - Investment Securities (Details) - Securities With Gross Unrealized Losses [Line Items] | ||
Securities with unrealized losses, less than 12 months, fair value | 3,606 | |
Securities with unrealized losses, less than 12 months, gross unrealized losses | -371 | |
Securities with unrealized losses, 12 months or greater, fair value | 3,790 | |
Securities with unrealized losses, 12 months or greater, gross unrealized losses | -201 | -301 |
Securities with unrealized losses, fair value | 8,091 | 7,396 |
Securities with unrealized losses, gross unrealized losses | -201 | -672 |
Federal Farm Credit Bonds [Member] | ||
Note 10 - Investment Securities (Details) - Securities With Gross Unrealized Losses [Line Items] | ||
Securities with unrealized losses, less than 12 months, fair value | 3,282 | |
Securities with unrealized losses, less than 12 months, gross unrealized losses | -217 | |
Securities with unrealized losses, 12 months or greater, fair value | 1,775 | |
Securities with unrealized losses, 12 months or greater, gross unrealized losses | -138 | -171 |
Securities with unrealized losses, fair value | 5,444 | 5,057 |
Securities with unrealized losses, gross unrealized losses | -138 | -388 |
Federal Home Loan Mortgage Corporation Bonds [Member] | ||
Note 10 - Investment Securities (Details) - Securities With Gross Unrealized Losses [Line Items] | ||
Securities with unrealized losses, less than 12 months, fair value | 1,100 | |
Securities with unrealized losses, less than 12 months, gross unrealized losses | -77 | |
Securities with unrealized losses, 12 months or greater, fair value | 902 | |
Securities with unrealized losses, 12 months or greater, gross unrealized losses | -47 | -97 |
Securities with unrealized losses, fair value | 1,997 | 2,002 |
Securities with unrealized losses, gross unrealized losses | -47 | -174 |
Federal National Mortgage Association [Member] | ||
Note 10 - Investment Securities (Details) - Securities With Gross Unrealized Losses [Line Items] | ||
Securities with unrealized losses, less than 12 months, fair value | 7,687 | |
Securities with unrealized losses, less than 12 months, gross unrealized losses | -512 | |
Securities with unrealized losses, 12 months or greater, fair value | 1,349 | |
Securities with unrealized losses, 12 months or greater, gross unrealized losses | -121 | -151 |
Securities with unrealized losses, fair value | 7,999 | 9,036 |
Securities with unrealized losses, gross unrealized losses | -121 | -663 |
Mutual Fund Shares [Member] | ||
Note 10 - Investment Securities (Details) - Securities With Gross Unrealized Losses [Line Items] | ||
Securities with unrealized losses, less than 12 months, fair value | 183 | |
Securities with unrealized losses, less than 12 months, gross unrealized losses | -3 | |
Securities with unrealized losses, fair value | 183 | |
Securities with unrealized losses, gross unrealized losses | -3 | |
Total Bonds [Member] | ||
Note 10 - Investment Securities (Details) - Securities With Gross Unrealized Losses [Line Items] | ||
Securities with unrealized losses, less than 12 months, fair value | 15,858 | |
Securities with unrealized losses, less than 12 months, gross unrealized losses | -1,180 | |
Securities with unrealized losses, 12 months or greater, fair value | 7,816 | |
Securities with unrealized losses, 12 months or greater, gross unrealized losses | -720 | |
Securities with unrealized losses, fair value | 23,674 | |
Securities with unrealized losses, gross unrealized losses | -1,900 | |
Government National Mortgage Association [Member] | ||
Note 10 - Investment Securities (Details) - Securities With Gross Unrealized Losses [Line Items] | ||
Securities with unrealized losses, 12 months or greater, fair value | 26 | |
Securities with unrealized losses, 12 months or greater, gross unrealized losses | -1 | |
Securities with unrealized losses, fair value | 26 | |
Securities with unrealized losses, gross unrealized losses | ($1) |