Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Dec. 31, 2016 | Feb. 09, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | Delanco Bancorp, Inc. | |
Entity Central Index Key | 1,577,603 | |
Trading Symbol | dlno | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 945,425 | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2016 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) | Dec. 31, 2016 | Mar. 31, 2016 |
ASSETS | ||
Cash and amounts due from banks | $ 702,565 | $ 585,364 |
Interest-bearing deposits | 10,320,101 | 11,542,024 |
Total cash and cash equivalents | 11,022,666 | 12,127,388 |
Securities available-for-sale (amortized cost of $2,096,668 and $2,121,777 at December 31, 2016 and March 31, 2016, respectively) | 2,104,869 | 2,150,093 |
Securities held-to-maturity (fair value $21,848,380 and $21,706,150 at December 31, 2016 and March 31, 2016, respectively) | 22,660,982 | 21,584,538 |
Total investment securities | 24,765,851 | 23,734,631 |
Loans, net of allowance for loan losses of $1,016,218 at December 31, 2016 (unaudited), $1,099,232 at March 31, 2016 | 83,026,561 | 82,197,809 |
Accrued interest receivable | 357,367 | 369,138 |
Real estate owned | 1,722,800 | 1,763,628 |
Federal Home Loan Bank, at cost | 124,300 | 253,800 |
Premises and equipment, net | 6,107,352 | 6,290,047 |
Deferred income taxes | 2,002,800 | 2,066,535 |
Bank-owned life insurance | 173,914 | 174,252 |
Other assets | 262,164 | 437,797 |
Total assets | 129,565,775 | 129,415,025 |
LIABILITIES | ||
Non-interest bearing deposits | 11,710,881 | 12,054,146 |
Interest bearing deposits | 103,069,451 | 99,810,501 |
Total deposits | 114,780,332 | 111,864,647 |
Advances from Federal Home Loan bank | 3,000,000 | |
Accrued interest payable | 1,109 | 5,830 |
Advance payments by borrowers for taxes and insurance | 454,354 | 433,034 |
Other liabilities | 898,076 | 815,802 |
Total liabilities | 116,133,871 | 116,119,313 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $.01 par value, 5,000,000 authorized at December 31, 2016 and March 31, 2016, no shares issued | ||
Common stock, $.01 par value, 20,000,000 shares authorized; 945,425 shares issued and outstanding at December 31, 2016 and March 31, 2016 | 9,454 | 9,454 |
Additional paid-in capital | 10,010,014 | 9,988,509 |
Retained earnings, substantially restricted | 3,999,681 | 3,918,476 |
Unearned common stock held by employee stock ownership plan | (455,514) | (501,065) |
Accumulated other comprehensive (loss) | (131,731) | (119,662) |
Total stockholder’s equity | 13,431,904 | 13,295,712 |
Total liabilities and stockholders’ equity | $ 129,565,775 | $ 129,415,025 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) | Dec. 31, 2016 | Mar. 31, 2016 |
Securities available-for-sale, amortized cost | $ 2,096,668 | $ 2,121,777 |
Securities available-for-sale, fair value | 21,848,380 | 21,706,150 |
Allowance for loan losses | $ 1,016,218 | $ 1,099,232 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, shares issued (in shares) | 945,425 | 945,425 |
Common stock, shares outstanding (in shares) | 945,425 | 945,425 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
INTEREST INCOME | ||||
Loans | $ 875,015 | $ 910,027 | $ 2,641,794 | $ 2,720,113 |
Investment securities | 144,313 | 161,583 | 460,080 | 495,362 |
Total interest income | 1,019,328 | 1,071,610 | 3,101,874 | 3,215,475 |
INTEREST EXPENSE | ||||
Interest-bearing checking accounts | 11,512 | 10,743 | 33,664 | 29,056 |
Passbook and money market accounts | 30,158 | 26,624 | 89,850 | 79,198 |
Certificates of deposits | 90,016 | 101,031 | 272,014 | 300,295 |
Federal Home Loan Bank Advances | 336 | 5,978 | 5,148 | 19,858 |
Total interest expense | 132,022 | 144,376 | 400,676 | 428,407 |
Net interest income | 887,306 | 927,234 | 2,701,198 | 2,787,068 |
Provision (recovery)for loan losses | 26,000 | (22,000) | 10,000 | |
Net interest income after provision for loan losses | 861,306 | 927,234 | 2,723,198 | 2,777,068 |
NON-INTEREST INCOME | ||||
Gain (loss) on sale of REO | 300 | (1,115) | (2,540) | (3,096) |
Service charges | 31,351 | 28,358 | 93,781 | 99,019 |
Rental income | 9,597 | 15,969 | 34,632 | 83,898 |
Other | 3,581 | 3,656 | 11,010 | 11,237 |
Total non-interest income | 44,829 | 46,868 | 136,883 | 191,058 |
NON-INTEREST EXPENSE | ||||
Salaries and employee benefits | 403,015 | 416,893 | 1,200,653 | 1,248,971 |
Advertising | 3,844 | 7,894 | 15,221 | 17,535 |
Office supplies, telephone and postage | 23,613 | 29,560 | 77,620 | 82,039 |
Loan expenses | 6,561 | 14,276 | 40,893 | 62,140 |
Occupancy expense | 146,685 | 155,811 | 440,038 | 462,220 |
Federal insurance premiums | 1,247 | 43,083 | 86,673 | 128,669 |
Real estate owned loss reserve | 49,000 | 62,100 | 48,285 | |
Data processing expenses | 61,431 | 61,894 | 188,589 | 181,257 |
ATM expenses | 11,310 | 7,297 | 27,610 | 21,221 |
Bank charges and fees | 20,504 | 20,890 | 64,606 | 63,641 |
Insurance and surety bond premiums | 20,575 | 19,981 | 65,304 | 69,069 |
Dues and subscriptions | 8,831 | 10,933 | 33,285 | 35,204 |
Professional fees | 77,164 | 68,037 | 202,784 | 220,087 |
Real Estate Owned expense | 31,831 | 59,836 | 93,982 | 200,333 |
Other | 35,175 | 36,962 | 105,036 | 104,847 |
Total non-interest expense | 900,786 | 953,347 | 2,704,394 | 2,945,518 |
INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 5,349 | 20,755 | 155,687 | 22,608 |
Income tax expense (benefit) | 2,030 | 8,133 | 74,482 | (12,217) |
NET INCOME | $ 3,319 | $ 12,622 | $ 81,205 | $ 34,825 |
INCOME PER COMMON SHARE (in dollars per share) | $ 0 | $ 0.01 | $ 0.09 | $ 0.04 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Net Income (Loss) | $ 81,205 | $ 34,825 |
Unrealized gain (Loss) on investment securities available for sale, net of deferred tax of $3,280 and $1,710 for the nine months ended | (12,069) | 4,275 |
Other comprehensive income (loss) | (12,069) | 4,275 |
Total Comprehensive Income | $ 69,136 | $ 39,100 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) | 9 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Unrealized gain (loss) on investment securities, deferred tax (benefit) | $ 3,280 | $ 1,710 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Stockholders' Equity (Unaudited) - 9 months ended Dec. 31, 2016 - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Unearned Employee Stock Ownership Plan [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Mar. 31, 2016 | 945,425 | |||||
Balance at Mar. 31, 2016 | $ 9,454 | $ 9,988,509 | $ 3,918,476 | $ (501,065) | $ (119,662) | $ 13,295,712 |
Net income | 81,205 | 81,205 | ||||
Change in unrealized gain on securities- available- for-sale, net of deferred income tax() | (12,069) | (12,069) | ||||
Employee stock option expense | 26,415 | 26,415 | ||||
Shares of common stock transferred to ESOP for services | (4,910) | 45,551 | 40,641 | |||
Balance (in shares) at Dec. 31, 2016 | 945,425 | |||||
Balance at Dec. 31, 2016 | $ 9,454 | $ 10,010,014 | $ 3,999,681 | $ (455,514) | $ (131,731) | $ 13,431,904 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flow from operating activities | ||
Net Income (Loss) | $ 81,205 | $ 34,825 |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
ESOP amortization | 45,551 | 33,075 |
Deferred income taxes | 71,780 | (14,468) |
Depreciation | 194,432 | 198,048 |
Discount accretion net of premium amortization | (31,307) | 5,601 |
Provision (recovery)for loan losses | (22,000) | 10,000 |
Loss on sale of real estate owned | 2,540 | 3,096 |
Compensation expense for stock options | 21,505 | 23,631 |
(Increase) decrease in: | ||
Accrued interest receivable | 11,771 | 54,689 |
Other assets | 175,971 | 79,426 |
Increase (decrease) in: | ||
Accrued interest payable | (4,721) | (5,098) |
Other liabilities | 82,274 | (28,331) |
Net cash provided by operating activities | 629,001 | 394,494 |
Cash flows from investing activities | ||
Proceeds of securities available for sale | 525,109 | 524,433 |
Purchases of securities available for sale | (500,000) | (1,500,000) |
Purchases of securities held-to-maturity | (19,965,000) | (4,736,250) |
Proceeds from maturities and principal repayments of securities held-to-maturity | 18,919,864 | 5,503,192 |
(Purchase) sale of investment required by law – stock in Federal Home Loan Bank | 129,500 | 52,500 |
Proceeds from sale of real estate owned | 466,285 | 470,718 |
Net (increase) decrease in loans | (1,234,749) | (3,626,310) |
Purchases of premises and equipment | (11,737) | (61,078) |
Net cash provided by(used in) investing activities | (1,670,728) | (3,372,795) |
Cash flows from financing activities | ||
Increase in deposits | 2,915,685 | 2,231,916 |
Increase in advance payments by borrowers for taxes and insurance | 21,320 | 87,292 |
(Decrease)in Federal Home Loan Bank advance | (3,000,000) | (1,000,000) |
Net cash provided by financing activities | (62,995) | 1,319,208 |
Net (decrease) in cash and cash equivalents | (1,104,722) | (1,659,093) |
Cash and cash equivalents, beginning of the period | 12,127,388 | 10,450,448 |
Cash and cash equivalents, end of period | 11,022,666 | 8,791,355 |
Supplemental Disclosures: | ||
Cash paid during the period for interest | 402,467 | 443,654 |
Cash paid during the period for income taxes | 2,500 | 2,500 |
Loans transferred to foreclosed real estate during the period | 610,148 | 246,382 |
Net change in unrealized gain on securities available-for-sale net of tax | $ (12,069) | $ 4,275 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | (1) Basis of Presentation On October 16, 2013, “second 525,423 420,002 $3,280,000, $923,000. The accompanying unaudited consolidated financial statements have been prepared in accordance with instructions for Form 10 three nine December 31, 2016 may 10 March 31, 2016. |
Note 2 - Use of Estimates
Note 2 - Use of Estimates | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
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, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | (4) Income Taxes The Bank accounts for uncertainties in income taxes in accordance with Financial ASC Topic 740 740 740 no Tax year 2015 2013 2015 . |
Deferred Income Taxes [Member] | |
Notes to Financial Statements | |
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 10% 107 |
Note 4 - Income Taxes
Note 4 - Income Taxes | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | (4) Income Taxes The Bank accounts for uncertainties in income taxes in accordance with Financial ASC Topic 740 740 740 no Tax year 2015 2013 2015 . |
Note 5 - Earnings Per Share
Note 5 - Earnings Per Share | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
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. The calculated basic and dilutive EPS are as follows: Three Months Ended December 31, Nine Months Ended December 31, 2016 2015 2016 2015 Numerator $ 3,319 $ 12,622 $ 81,205 $ 34,825 Denominators: Basic shares outstanding 910,239 906,720 910,239 906,720 Effect of dilutive securities 4,252 2,222 4,252 2,222 Dilutive shares outstanding 914,491 908,942 914,491 908,942 Earnings per share: Basic $ 0.00 $ 0.01 $ 0.09 $ 0.04 Dilutive $ 0.00 $ 0.01 $ 0.09 $ 0.04 |
Note 6 - Regulatory Agreement
Note 6 - Regulatory Agreement | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | (6) Regulatory Agreement On December 17, 2012, November 21, 2012. March 17, 2010. The Agreement requires the Bank to take the following actions: ● prepare a three ● 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 ● 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. We have submitted strategic and capital plans to the OCC and have developed the other plans and policies required by the written agreement. The written 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. Separately, the OCC established higher individual minimum capital ratios for the Bank. Specifically, the Bank must maintain a Tier 1 8%, 1 12% 13%. 1 1 December 31, 2016 8.96%, 16.35% 17.61%, |
Note 7 - Recent Accounting Pron
Note 7 - Recent Accounting Pronouncements | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | (7) Recent Accounting Pronouncements There was one March 31, 2016 In August 2015, 2015 14: May 28, 2014, 2014 09, December 15, 2016, 2014 09 2014 09 one 2014 09 December 15, 2017, December 15, 2016, |
Note 8 - Fair Value of Financia
Note 8 - Fair Value of Financial Instruments | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | (8) Fair Value of Financial Instruments ASC Topic 820 10 820 820 10 ASC Topic 820 three ● Level 1 Level 1 ● Level 2 Level 2 1 2 ● Level 3 Level 3 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 in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) December 31, 2016 Available-for-sale securities $ − $ 2,105 $ − March 31, 2016 Available-for-sale securities $ − $ 2,150 $ − Assets and Liabilities on a Non-Recurring Basis Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2016 March 31, 2015 Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) December 31, 2016 Impaired loans $ − $ − $ 4,852 Real estate owned − − 1,723 Total $ − $ − $ 6,575 March 31, 2016 Impaired loans $ − $ − $ 4,966 Real estate owned − − 1,763 Total $ − $ − $ 6,729 The fair value of impaired loans and real estate owned is generally based on recent real estate appraisals. These appraisals may 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, December 31, 2016 March 31, 2016 December 31, 2016 Carrying Amount Level 1 Level 2 Level 3 (Dollars in Thousands) Financial Assets: Cash and cash equivalents $ 11,023 $ 11,023 $ − $ − Investment securities-available for sale 2,105 − 2,105 − Investment securities-held to maturity 22,661 − 22,661 − Loans – net 83,027 − − 82,942 FHLB stock 124 − − − Accrued interest receivable 357 357 − − Bank–owned life insurance 174 174 − − Real estate owned 1,723 − − 1,723 Total financial assets $ 121,194 $ 11,554 $ 24,766 $ 84,665 Financial Liabilities: Deposits-non-interest bearing $ 11,711 $ 11,711 $ − $ − Deposits-interest bearing 103,069 − 102,350 − Advance payments by borrowers for taxes and insurance 454 454 − − Accrued interest payable 1 1 − − Total financial liabilities $ 115,235 $ 12,166 $ 102,350 $ − March 31, 2016 Carrying Amount Level 1 Level 2 Level 3 (Dollars in Thousands) Financial Assets: Cash and cash equivalents $ 12,127 $ 12,127 $ − $ − Investment securities-available for sale 2,122 − 2,150 − Investment securities-held to maturity 21,585 − 21,640 − Loans receivable,– net 82,198 − − 84,744 FHLB stock 254 254 − − Accrued interest receivable 369 369 − − Bank-owned life insurance 174 174 − − Real estate owned 1,763 − − 1,763 Total financial assets $ 120,592 $ 12,924 $ 23,790 $ 86,507 Financial Liabilities: Deposits-non-interest bearing $ 12,054 $ 12,054 $ − $ − Deposits-interest bearing 99,811 − 99,900 − Advances from Federal Home Loan Bank 3,000 3,000 − − Advance payments by borrowers for taxes and insurance 433 433 − − Accrued interest payable 6 6 − − Total financial liabilities $ 115,304 $ 15,493 $ 99,900 $ − 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. December 31, 2016 March 31, 2016 Contract Value Estimated Fair Value Contract Value Estimated Fair Value Off-balance sheet instruments Commitments to extend credit $ 8,430 $ − $ 7,469 $ − |
Note 9 - Loans
Note 9 - Loans | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
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 four one four 80% 30 30 may Commercial real estate loans are generally originated in amounts up to the lower of 80% 5 7 25 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 Consumer loans include installment loans and home equity loans, secured by first second first second 80% Loans at December 31, 2016 March 31, 2016 December 31, 2016 March 31, 2016 Residential (one-to four-family) real estate $ 62,069 $ 62,251 Multi-family and commercial real estate 9,902 9,569 Commercial 2,036 2,290 Home equity 8,825 8,528 Consumer 642 682 Construction 635 54 Total loans 84,109 83,374 Net deferred loan origination fees (66 ) (77 ) Allowance for loan losses (1,016 ) (1,099 ) Loans, net $ 83,027 $ 82,198 The Bank is subject to a loans-to- one 15% December 31, 2016, one $1.8 10% $1.2 may December 31, 2016, one one 15% 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 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 Non-Performing Loans Non-performing loans consist of non-accrual loans (loans on which the accrual of interest has ceased), loans over ninety 90 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, 2016, six $871 The following table represents loans by credit quality indicator at December 31, 2016 Pass Special Mention Loans Classified Loans Non- Performing Loans Total Residential real estate $ 59,112 $ − $ − $ 2,957 $ 62,069 Multi-family and commercial real estate 8,552 − 174 1,176 9,902 Commercial 1,830 − − 206 2,036 Home equity 8,781 − − 44 8,825 Consumer 642 − − − 642 Construction 582 − − 53 635 $ 79,499 $ − $ 174 $ 4,436 $ 84,109 The following table represents past-due loans as of December 31, 2016 30-59 Days Past Due 60- 89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total Loan Balances Residential real estate $ 712 $ 473 $ 1,993 $ 3,178 $ 58,891 $ 62,069 Multi-family and commercial real estate − 239 694 933 8,969 9,902 Commercial − 214 171 385 1,651 2,036 Home Equity − 88 216 304 8,521 8,825 Consumer 3 15 − 18 624 642 Construction − − − − 635 635 Total Loans $ 715 $ 1,029 $ 3,074 $ 4,818 $ 79,291 $ 84,109 Percentage of Total Loans 0.8 % 1.2 % 3.7 % 5.7 % 94.3 % 100.0 % 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, 2016, 18 $3.3 18 $2.8 March 31, 2016. $5.2 nine December 31, 2016 $5.0 March 31, 2016, nine December 31, 2016 $125 $201 March 31, 2016 . The following table represents data on impaired loans at December 31, 2016 March 31, 2016 December 31, 2016 March 31, 2016 Impaired loans for which a valuation allowance has been provided $ − $ — Impaired loans for which no valuation allowance has been provided 5,031 4,966 Total loans determined to be impaired 5,031 4,966 Allowance for loans losses related to impaired loans − — Average recorded investment in impaired loans 5,246 5,054 Cash basis interest income recognized on impaired loans 125 201 The following table presents impaired loans by portfolio class at December 31, 2016 Recorded Investment Unpaid Principal Balance Related Valuation Allowance Average Recorded Investment Interest Income Recognized While On Impaired Status Impaired loans with no valuation allowance: Residential real estate $ 2,371 $ 2,315 $ − $ 2,822 $ 38 Multi-family and commercial real estate 2,167 2,146 − 2,025 71 Commercial 206 206 − 139 7 Home equity 318 311 − 200 7 Consumer − − − 2 − Construction 58 53 58 2 Total $ 5,120 $ 5,031 $ − $ 5,246 $ 125 The following table presents impaired loans by portfolio class at March 31, 2016 Recorded Investment Unpaid Principal Balance Related Valuation Allowance Average Recorded Investment Interest Income Recognized While On Impaired Statues Impaired loans with no valuation allowance: Residential real estate $ 2,964 $ 2,920 $ − $ 2,913 $ 71 Multi-family and commercial real estate 1,938 1,935 − 1,992 117 Commercial 56 56 − 34 9 Home equity − − − 39 1 Consumer − − − 16 − Construction 59 54 − 60 3 Subtotal $ 5,017 $ 4,965 $ − $ 5,054 $ 201 The following table represents nonaccrual loans as of December 31, 2016 March 31, 2016 December 31, 2016 March 31, 2016 Non-accrual loans: Residential real estate $ 1,252 $ 1,333 Multi-family and commercial real estate 508 553 Commercial 206 − Consumer − 21 Home Equity 44 111 Construction − − Total non-accrual loans 2,010 2,018 Accruing loans past due 90 days or more: Residential real estate $ − $ − Multi-family and commercial real estate − − Commercial − − Consumer − − Home Equity − − Construction − − Total accruing loans past due 90 days or more − − Troubled Debt Restructurings: In non-accrual status: Residential real estate $ 914 $ 744 Multi-family and commercial real estate 425 − Commercial − − Consumer − − Home Equity − − Construction − − Total troubled debt restructurings in non-accrual status 1,339 744 Performing under modified terms: Residential real estate 791 787 Multi-family and commercial real estate 243 766 Commercial − − Consumer − − Home Equity − − Construction 53 54 Total troubled debt restructurings performing under modified terms: 1,087 1,607 Total troubled debt restructurings 2,426 2,351 Total non-performing loans 4,436 4,369 Real estate owned 1,723 1,764 Total non-performing assets 6,159 6,133 Non-performing loans as a percentage of loans 5.27 % 5.24 % Non-performing assets as a percentage of loans and real estate owned 7.18 % 7.20 % Non-performing assets as percentage of total assets 4.75 % 4.74 % During the nine December 31, 2016, $586 six $1.3 nine December 31, 2016. two $486 three five $612 one $172 one $100 one $77 one $40 two $468 The following table presents troubled debt restructurings that occurred during the periods ended December 31, 2016 March 31, 2016 9 12 December 31, 2016 March 31, 2016 Outstanding Recorded Outstanding Recorded Number of Pre- Modification Post- Number of Pre- Modification Post- Troubled debt restructurings: Residential real estate 1 77 95 1 $ 164 $ 173 Number of Recorded Investment Number of Recorded 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, 2016 March 31, 2016: December 31, 2016 March 31, 2016 Balance, beginning of period $ 1,764 $ 2,433 Additions from loan foreclosures 610 332 Additions from capitalized costs 9 − Dispositions of REO (595 ) (752 ) Gain (loss) on sale of REO (3 ) (3 ) Valuation adjustments in the period (62 ) (246 ) Balance, end of period $ 1,723 $ 1,764 The following table presents the changes in fair value adjustments to REO for the periods ended December 31, 2016 March 31, 2016: December 31, 2016 March 31, 2016 Balance, beginning of period $ 227 $ 851 Valuation adjustments added in the period 62 247 Valuation adjustments on disposed properties during the period (185 ) (871 ) Balance, end of period $ 104 $ 227 The following table sets forth with respect to the Bank’s allowance for losses on loans (dollars in thousands): December 31, 2016 March 31, 2016 Balance at beginning of period $ 1,099 $ 1,185 Provision: Commercial (40 ) (12 ) Commercial real estate (23 ) 9 Residential real estate 87 (132 ) Home Equity (13 ) 11 Consumer (35 ) 53 Construction 2 − Total provision (22 ) (71 ) Charge-offs: Commercial − − Commercial real estate 71 17 Residential real estate 102 40 Home equity − 11 Consumer − 71 Recoveries (112 ) (124 ) Total Net Charge-Offs $ 61 $ 15 Balance at end of period $ 1,016 $ 1,099 Period-end loans outstanding $ 84,109 $ 83,374 Average loans outstanding $ 83,416 $ 83,666 Allowance as a percentage of period-end loans 1.21 % 1.32 % Net charge-offs as a percentage of average loans 0.07 % 0.02 % Additional details for changes in the allowance for loan by loan portfolio as of December 31, 2016 Allowance for Loan Losses Commercial Commercial Real Estate Residential Real Estate Home Equity Consumer Construction Total Balance, beginning of year $ 80 $ 339 $ 568 $ 87 $ 25 $ − $ 1,099 Loan charge-offs − (71 ) (102 ) − − − (173 ) Recoveries 28 48 8 − 28 − 112 Provision for loan losses (40 ) (23 ) 87 (13 ) (35 ) 2 (22 ) Balance, end of period $ 68 $ 293 $ 561 $ 74 $ 18 $ 2 $ 1,016 Ending balance for loans individually evaluated for impairment $ 133 $ 1,666 $ 2,455 $ 545 $ − $ 53 $ 4,852 Ending balance for loans collectively evaluated for impairment 1,903 8,236 59,614 8,280 642 582 $ 79,257 Loans receivable: Ending balance $ 2,036 $ 9,902 $ 62,069 $ 8,825 $ 642 $ 635 $ 84,109 Ending balance: loans individually evaluated for impairment $ 133 $ 1,666 $ 2,455 $ 545 $ − $ 53 $ 4,852 Ending balance: loans collectively evaluated for impairment $ 1,903 $ 8,236 $ 59,614 $ 8,280 $ 642 $ 582 $ 79,257 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 December 31, 2016, one one $40 one one $31 two two $102 one one $71 three $68 March 31, 2016. At December 31, 2016, 1.21% $26 March 31, 2016, 4.75% December 31, 2016 4.74% March 31, 2016 . The Bank’s charge-off policy states that any asset classified loss shall be charged-off within thirty may |
Note 10 - Investment Securities
Note 10 - Investment Securities | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
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, 2016 March 31, 2016 Held-to-Maturity December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in Thousands) Federal Farm Credit Bank Bond $ 8,065 $ − $ (324 ) $ 7,741 Federal Home Loan Bank Bonds 8,353 − (368 ) 7,985 Federal Home Loan Mortgage Corporation Bonds 1,000 − (55 ) 945 Federal National Mortgage Association 3,000 − (107 ) 2,893 Municipal Bond 1,536 − (4 ) 1,532 21,954 − (858 ) 21,096 Mortgage-Backed Securities: Federal Home Loan Mortgage Corporation 245 11 − 256 Federal National Mortgage Association 329 30 − 359 Government National Mortgage Corporation 133 4 − 137 707 45 − 752 Total $ 22,661 $ 45 $ (858 ) $ 21,848 Held-to-Maturity March 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in Thousands) Federal Home Loan Bank Bonds $ 5,802 $ 28 $ (4 ) $ 5,826 Federal Farm Credit Bonds 9,438 21 (1 ) 9,458 Federal Home Loan Mortgage Corporation Bonds 732 − − 732 Federal National Mortgage Association Bond 4,000 17 4,017 Municipal Bond 736 (1 ) 735 20,708 66 (6 ) 20,768 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 322 26 (8 ) 340 Federal National Mortgage Association 398 40 (3 ) 435 Government National Mortgage Corporation 157 7 (1 ) 163 877 73 (12 ) 938 Total $ 21,585 $ 139 $ (18 ) $ 21,706 Available for Sale December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of Deposit $ 2,000 $ 10 $ − $ 2,010 Mutual Fund Shares 97 − (2 ) 95 $ 2097 $ 10 $ (2 ) $ 2,105 Available-for-Sale March 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Federal National Mortgage Association $ 500 $ − $ (3 ) $ 497 Certificates of Deposit 1,500 31 − 1,531 Mutual Fund Shares 122 2 (2 ) 122 Total $ 2,122 $ 33 $ (5 ) $ 2,150 The following is a summary of maturities of securities held-to-maturity and available-for-sale as of December 31, 2016 March 31, 2016: December 31, 2016 Held to Maturity Available for Sale (Dollars in Thousands) Amortized Cost Fair Value Amortized Cost Fair Value Amounts maturing in: One year or less $ 1,536 $ 1,532 $ − $ − After one year through five years 500 496 2,000 2,010 After five years through ten years 8,576 8,287 − − After ten years 12,049 11,533 − − Equity securities − − 97 95 $ 22,661 $ 21,848 $ 2,097 $ 2,105 March 31, 2015 Held to Maturity Available for Sale (Dollars in Thousands) Amortized Cost Fair Value Amortized Cost Fair Value Amounts maturing in: One year or less $ 736 $ 735 $ − $ − After one year through five years 945 945 1,000 1,025 After five years through ten years 8,380 8,384 1,000 1,003 After ten years 11,524 11,642 − − Equity securities − − 122 122 $ 21,585 $ 21,706 $ 2,122 $ 2,150 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 Information pertaining to securities with gross unrealized losses at December 31, 2016 March 31, 2016, Continuous Unrealized Continuous Unrealized Losses Existing For Losses Existing For Less Than 12 Months 12 Months or Greater Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2016 Value Losses Value Losses Value Losses Federal Farm Credit Bonds $ 7,741 $ (324 ) $ − $ − $ 7,741 $ (324 ) Federal Home Loan Bank Bond 7,985 (368 ) − − 7,985 (368 ) Federal National Mortgage Association 2,893 (107 ) − − 2,893 (107 ) Federal Home Loan Mortgage Corporation Bond 945 (55 ) − − 945 (55 ) Municipal bonds 1,536 (4 ) − − 1,536 (4 ) Total $ 21,100 $ (858 ) $ − $ − $ 21,100 $ (858 ) Continuous Unrealized Continuous Unrealized Losses Existing For Losses Existing For Less Than 12 Months 12 Months or Greater Total Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2016 Value Losses Value Losses Value Losses Federal Home Loan Bank Bonds $ − $ − $ 496 $ ( 4 ) $ 496 $ ( 4 ) Federal Farm Credit Bonds − − 499 ( 1 ) 499 ( 1 ) Federal National Mortgage Association − − 497 ( 3 ) 497 ( 3 ) Municipal Bonds 735 ( 1 ) − − 735 ( 1 ) Mutual fund shares − − 64 ( 2 ) 64 ( 2 ) 735 ( 1 ) 1,556 ( 10 ) 2,291 ( 11 ) Mortgage –Backed Securities: Federal Home Loan Mortgage Corporation − − 103 (8 ) 103 (8 ) Federal national Mortgage Association − − 154 (3 ) 154 (3 ) Government national Mortgage Association − − 22 (1 ) 22 (1 ) − − 279 (12 ) 279 (12 ) Total $ 735 $ (1 ) $ 1,835 $ (22 ) $ 2,570 $ (23 ) 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) (2) (3) At December 31, 2016, 42 3.9% |
Note 5 - Earnings Per Share (Ta
Note 5 - Earnings Per Share (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended December 31, Nine Months Ended December 31, 2016 2015 2016 2015 Numerator $ 3,319 $ 12,622 $ 81,205 $ 34,825 Denominators: Basic shares outstanding 910,239 906,720 910,239 906,720 Effect of dilutive securities 4,252 2,222 4,252 2,222 Dilutive shares outstanding 914,491 908,942 914,491 908,942 Earnings per share: Basic $ 0.00 $ 0.01 $ 0.09 $ 0.04 Dilutive $ 0.00 $ 0.01 $ 0.09 $ 0.04 |
Note 8 - Fair Value of Financ20
Note 8 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) December 31, 2016 Available-for-sale securities $ − $ 2,105 $ − March 31, 2016 Available-for-sale securities $ − $ 2,150 $ − |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) December 31, 2016 Impaired loans $ − $ − $ 4,852 Real estate owned − − 1,723 Total $ − $ − $ 6,575 March 31, 2016 Impaired loans $ − $ − $ 4,966 Real estate owned − − 1,763 Total $ − $ − $ 6,729 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | December 31, 2016 Carrying Amount Level 1 Level 2 Level 3 (Dollars in Thousands) Financial Assets: Cash and cash equivalents $ 11,023 $ 11,023 $ − $ − Investment securities-available for sale 2,105 − 2,105 − Investment securities-held to maturity 22,661 − 22,661 − Loans – net 83,027 − − 82,942 FHLB stock 124 − − − Accrued interest receivable 357 357 − − Bank–owned life insurance 174 174 − − Real estate owned 1,723 − − 1,723 Total financial assets $ 121,194 $ 11,554 $ 24,766 $ 84,665 Financial Liabilities: Deposits-non-interest bearing $ 11,711 $ 11,711 $ − $ − Deposits-interest bearing 103,069 − 102,350 − Advance payments by borrowers for taxes and insurance 454 454 − − Accrued interest payable 1 1 − − Total financial liabilities $ 115,235 $ 12,166 $ 102,350 $ − March 31, 2016 Carrying Amount Level 1 Level 2 Level 3 (Dollars in Thousands) Financial Assets: Cash and cash equivalents $ 12,127 $ 12,127 $ − $ − Investment securities-available for sale 2,122 − 2,150 − Investment securities-held to maturity 21,585 − 21,640 − Loans receivable,– net 82,198 − − 84,744 FHLB stock 254 254 − − Accrued interest receivable 369 369 − − Bank-owned life insurance 174 174 − − Real estate owned 1,763 − − 1,763 Total financial assets $ 120,592 $ 12,924 $ 23,790 $ 86,507 Financial Liabilities: Deposits-non-interest bearing $ 12,054 $ 12,054 $ − $ − Deposits-interest bearing 99,811 − 99,900 − Advances from Federal Home Loan Bank 3,000 3,000 − − Advance payments by borrowers for taxes and insurance 433 433 − − Accrued interest payable 6 6 − − Total financial liabilities $ 115,304 $ 15,493 $ 99,900 $ − |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | December 31, 2016 March 31, 2016 Contract Value Estimated Fair Value Contract Value Estimated Fair Value Off-balance sheet instruments Commitments to extend credit $ 8,430 $ − $ 7,469 $ − |
Note 9 - Loans (Tables)
Note 9 - Loans (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, 2016 March 31, 2016 Residential (one-to four-family) real estate $ 62,069 $ 62,251 Multi-family and commercial real estate 9,902 9,569 Commercial 2,036 2,290 Home equity 8,825 8,528 Consumer 642 682 Construction 635 54 Total loans 84,109 83,374 Net deferred loan origination fees (66 ) (77 ) Allowance for loan losses (1,016 ) (1,099 ) Loans, net $ 83,027 $ 82,198 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Pass Special Mention Loans Classified Loans Non- Performing Loans Total Residential real estate $ 59,112 $ − $ − $ 2,957 $ 62,069 Multi-family and commercial real estate 8,552 − 174 1,176 9,902 Commercial 1,830 − − 206 2,036 Home equity 8,781 − − 44 8,825 Consumer 642 − − − 642 Construction 582 − − 53 635 $ 79,499 $ − $ 174 $ 4,436 $ 84,109 |
Past Due Financing Receivables [Table Text Block] | 30-59 Days Past Due 60- 89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total Loan Balances Residential real estate $ 712 $ 473 $ 1,993 $ 3,178 $ 58,891 $ 62,069 Multi-family and commercial real estate − 239 694 933 8,969 9,902 Commercial − 214 171 385 1,651 2,036 Home Equity − 88 216 304 8,521 8,825 Consumer 3 15 − 18 624 642 Construction − − − − 635 635 Total Loans $ 715 $ 1,029 $ 3,074 $ 4,818 $ 79,291 $ 84,109 Percentage of Total Loans 0.8 % 1.2 % 3.7 % 5.7 % 94.3 % 100.0 % |
Impaired Financing Receivables [Table Text Block] | December 31, 2016 March 31, 2016 Impaired loans for which a valuation allowance has been provided $ − $ — Impaired loans for which no valuation allowance has been provided 5,031 4,966 Total loans determined to be impaired 5,031 4,966 Allowance for loans losses related to impaired loans − — Average recorded investment in impaired loans 5,246 5,054 Cash basis interest income recognized on impaired loans 125 201 |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | Recorded Investment Unpaid Principal Balance Related Valuation Allowance Average Recorded Investment Interest Income Recognized While On Impaired Status Impaired loans with no valuation allowance: Residential real estate $ 2,371 $ 2,315 $ − $ 2,822 $ 38 Multi-family and commercial real estate 2,167 2,146 − 2,025 71 Commercial 206 206 − 139 7 Home equity 318 311 − 200 7 Consumer − − − 2 − Construction 58 53 58 2 Total $ 5,120 $ 5,031 $ − $ 5,246 $ 125 Recorded Investment Unpaid Principal Balance Related Valuation Allowance Average Recorded Investment Interest Income Recognized While On Impaired Statues Impaired loans with no valuation allowance: Residential real estate $ 2,964 $ 2,920 $ − $ 2,913 $ 71 Multi-family and commercial real estate 1,938 1,935 − 1,992 117 Commercial 56 56 − 34 9 Home equity − − − 39 1 Consumer − − − 16 − Construction 59 54 − 60 3 Subtotal $ 5,017 $ 4,965 $ − $ 5,054 $ 201 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | December 31, 2016 March 31, 2016 Non-accrual loans: Residential real estate $ 1,252 $ 1,333 Multi-family and commercial real estate 508 553 Commercial 206 − Consumer − 21 Home Equity 44 111 Construction − − Total non-accrual loans 2,010 2,018 Accruing loans past due 90 days or more: Residential real estate $ − $ − Multi-family and commercial real estate − − Commercial − − Consumer − − Home Equity − − Construction − − Total accruing loans past due 90 days or more − − Troubled Debt Restructurings: In non-accrual status: Residential real estate $ 914 $ 744 Multi-family and commercial real estate 425 − Commercial − − Consumer − − Home Equity − − Construction − − Total troubled debt restructurings in non-accrual status 1,339 744 Performing under modified terms: Residential real estate 791 787 Multi-family and commercial real estate 243 766 Commercial − − Consumer − − Home Equity − − Construction 53 54 Total troubled debt restructurings performing under modified terms: 1,087 1,607 Total troubled debt restructurings 2,426 2,351 Total non-performing loans 4,436 4,369 Real estate owned 1,723 1,764 Total non-performing assets 6,159 6,133 Non-performing loans as a percentage of loans 5.27 % 5.24 % Non-performing assets as a percentage of loans and real estate owned 7.18 % 7.20 % Non-performing assets as percentage of total assets 4.75 % 4.74 % |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | December 31, 2016 March 31, 2016 Outstanding Recorded Outstanding Recorded Number of Pre- Modification Post- Number of Pre- Modification Post- Troubled debt restructurings: Residential real estate 1 77 95 1 $ 164 $ 173 |
Schedule of Debtor Troubled Debt Restructuring, Subsequent Periods [Table Text Block] | Number of Recorded Investment Number of Recorded Investment Troubled debt restructurings that subsequently defaulted: Residential real estate − $ − − $ − |
Real Estate Owned [Table Text Block] | December 31, 2016 March 31, 2016 Balance, beginning of period $ 1,764 $ 2,433 Additions from loan foreclosures 610 332 Additions from capitalized costs 9 − Dispositions of REO (595 ) (752 ) Gain (loss) on sale of REO (3 ) (3 ) Valuation adjustments in the period (62 ) (246 ) Balance, end of period $ 1,723 $ 1,764 December 31, 2016 March 31, 2016 Balance, beginning of period $ 227 $ 851 Valuation adjustments added in the period 62 247 Valuation adjustments on disposed properties during the period (185 ) (871 ) Balance, end of period $ 104 $ 227 |
Schedule of Charge-offs [Table Text Block] | December 31, 2016 March 31, 2016 Balance at beginning of period $ 1,099 $ 1,185 Provision: Commercial (40 ) (12 ) Commercial real estate (23 ) 9 Residential real estate 87 (132 ) Home Equity (13 ) 11 Consumer (35 ) 53 Construction 2 − Total provision (22 ) (71 ) Charge-offs: Commercial − − Commercial real estate 71 17 Residential real estate 102 40 Home equity − 11 Consumer − 71 Recoveries (112 ) (124 ) Total Net Charge-Offs $ 61 $ 15 Balance at end of period $ 1,016 $ 1,099 Period-end loans outstanding $ 84,109 $ 83,374 Average loans outstanding $ 83,416 $ 83,666 Allowance as a percentage of period-end loans 1.21 % 1.32 % Net charge-offs as a percentage of average loans 0.07 % 0.02 % |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Commercial Commercial Real Estate Residential Real Estate Home Equity Consumer Construction Total Balance, beginning of year $ 80 $ 339 $ 568 $ 87 $ 25 $ − $ 1,099 Loan charge-offs − (71 ) (102 ) − − − (173 ) Recoveries 28 48 8 − 28 − 112 Provision for loan losses (40 ) (23 ) 87 (13 ) (35 ) 2 (22 ) Balance, end of period $ 68 $ 293 $ 561 $ 74 $ 18 $ 2 $ 1,016 Ending balance for loans individually evaluated for impairment $ 133 $ 1,666 $ 2,455 $ 545 $ − $ 53 $ 4,852 Ending balance for loans collectively evaluated for impairment 1,903 8,236 59,614 8,280 642 582 $ 79,257 Loans receivable: Ending balance $ 2,036 $ 9,902 $ 62,069 $ 8,825 $ 642 $ 635 $ 84,109 Ending balance: loans individually evaluated for impairment $ 133 $ 1,666 $ 2,455 $ 545 $ − $ 53 $ 4,852 Ending balance: loans collectively evaluated for impairment $ 1,903 $ 8,236 $ 59,614 $ 8,280 $ 642 $ 582 $ 79,257 |
Note 10 - Investment Securiti22
Note 10 - Investment Securities (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Held-to-maturity Securities [Table Text Block] | Held-to-Maturity December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in Thousands) Federal Farm Credit Bank Bond $ 8,065 $ − $ (324 ) $ 7,741 Federal Home Loan Bank Bonds 8,353 − (368 ) 7,985 Federal Home Loan Mortgage Corporation Bonds 1,000 − (55 ) 945 Federal National Mortgage Association 3,000 − (107 ) 2,893 Municipal Bond 1,536 − (4 ) 1,532 21,954 − (858 ) 21,096 Mortgage-Backed Securities: Federal Home Loan Mortgage Corporation 245 11 − 256 Federal National Mortgage Association 329 30 − 359 Government National Mortgage Corporation 133 4 − 137 707 45 − 752 Total $ 22,661 $ 45 $ (858 ) $ 21,848 Held-to-Maturity March 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in Thousands) Federal Home Loan Bank Bonds $ 5,802 $ 28 $ (4 ) $ 5,826 Federal Farm Credit Bonds 9,438 21 (1 ) 9,458 Federal Home Loan Mortgage Corporation Bonds 732 − − 732 Federal National Mortgage Association Bond 4,000 17 4,017 Municipal Bond 736 (1 ) 735 20,708 66 (6 ) 20,768 Mortgage-backed securities: Federal Home Loan Mortgage Corporation 322 26 (8 ) 340 Federal National Mortgage Association 398 40 (3 ) 435 Government National Mortgage Corporation 157 7 (1 ) 163 877 73 (12 ) 938 Total $ 21,585 $ 139 $ (18 ) $ 21,706 |
Available-for-sale Securities [Table Text Block] | Available for Sale December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificates of Deposit $ 2,000 $ 10 $ − $ 2,010 Mutual Fund Shares 97 − (2 ) 95 $ 2097 $ 10 $ (2 ) $ 2,105 Available-for-Sale March 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Federal National Mortgage Association $ 500 $ − $ (3 ) $ 497 Certificates of Deposit 1,500 31 − 1,531 Mutual Fund Shares 122 2 (2 ) 122 Total $ 2,122 $ 33 $ (5 ) $ 2,150 |
Investments Classified by Contractual Maturity Date [Table Text Block] | December 31, 2016 Held to Maturity Available for Sale (Dollars in Thousands) Amortized Cost Fair Value Amortized Cost Fair Value Amounts maturing in: One year or less $ 1,536 $ 1,532 $ − $ − After one year through five years 500 496 2,000 2,010 After five years through ten years 8,576 8,287 − − After ten years 12,049 11,533 − − Equity securities − − 97 95 $ 22,661 $ 21,848 $ 2,097 $ 2,105 March 31, 2015 Held to Maturity Available for Sale (Dollars in Thousands) Amortized Cost Fair Value Amortized Cost Fair Value Amounts maturing in: One year or less $ 736 $ 735 $ − $ − After one year through five years 945 945 1,000 1,025 After five years through ten years 8,380 8,384 1,000 1,003 After ten years 11,524 11,642 − − Equity securities − − 122 122 $ 21,585 $ 21,706 $ 2,122 $ 2,150 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Continuous Unrealized Continuous Unrealized Losses Existing For Losses Existing For Less Than 12 Months 12 Months or Greater Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2016 Value Losses Value Losses Value Losses Federal Farm Credit Bonds $ 7,741 $ (324 ) $ − $ − $ 7,741 $ (324 ) Federal Home Loan Bank Bond 7,985 (368 ) − − 7,985 (368 ) Federal National Mortgage Association 2,893 (107 ) − − 2,893 (107 ) Federal Home Loan Mortgage Corporation Bond 945 (55 ) − − 945 (55 ) Municipal bonds 1,536 (4 ) − − 1,536 (4 ) Total $ 21,100 $ (858 ) $ − $ − $ 21,100 $ (858 ) Continuous Unrealized Continuous Unrealized Losses Existing For Losses Existing For Less Than 12 Months 12 Months or Greater Total Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2016 Value Losses Value Losses Value Losses Federal Home Loan Bank Bonds $ − $ − $ 496 $ ( 4 ) $ 496 $ ( 4 ) Federal Farm Credit Bonds − − 499 ( 1 ) 499 ( 1 ) Federal National Mortgage Association − − 497 ( 3 ) 497 ( 3 ) Municipal Bonds 735 ( 1 ) − − 735 ( 1 ) Mutual fund shares − − 64 ( 2 ) 64 ( 2 ) 735 ( 1 ) 1,556 ( 10 ) 2,291 ( 11 ) Mortgage –Backed Securities: Federal Home Loan Mortgage Corporation − − 103 (8 ) 103 (8 ) Federal national Mortgage Association − − 154 (3 ) 154 (3 ) Government national Mortgage Association − − 22 (1 ) 22 (1 ) − − 279 (12 ) 279 (12 ) Total $ 735 $ (1 ) $ 1,835 $ (22 ) $ 2,570 $ (23 ) |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) | Oct. 16, 2013USD ($)shares |
Stock Issued During Period, Shares, New Issues | shares | 525,423 |
Exchange of Common Stock Shares | 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
Note 3 - Deferred Income Taxes (Details Textual) | Dec. 31, 2016 |
GAAP Capital Ratio, Basis Points in Excess of Tier 1 Regulatory Capital Ratio | 1.07% |
Note 4 - Income Taxes (Details
Note 4 - Income Taxes (Details Textual) | 9 Months Ended |
Dec. 31, 2016USD ($) | |
Liability for Uncertainty in Income Taxes, Current | $ 0 |
Federal and State Jurisdiction [Member] | Earliest Tax Year [Member] | |
Open Tax Year | 2,013 |
Federal and State Jurisdiction [Member] | Latest Tax Year [Member] | |
Open Tax Year | 2,015 |
Note 5 - Earnings Per Share - E
Note 5 - Earnings Per Share - Earnings Per Share Reconciliation (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net Income (Loss) | $ 3,319 | $ 12,622 | $ 81,205 | $ 34,825 |
Denominators: | ||||
Basic shares outstanding (in shares) | 910,239 | 906,720 | 910,239 | 906,720 |
Effect of dilutive securities (in shares) | 4,252 | 2,222 | 4,252 | 2,222 |
Dilutive shares outstanding (in shares) | 914,491 | 908,942 | 914,491 | 908,942 |
Earnings per share: | ||||
Basic (in dollars per share) | $ 0 | $ 0.01 | $ 0.09 | $ 0.04 |
Dilutive (in dollars per share) | $ 0 | $ 0.01 | $ 0.09 | $ 0.04 |
Note 6 - Regulatory Agreement (
Note 6 - Regulatory Agreement (Details Textual) | Dec. 31, 2016 |
Tier One Leverage Capital to Average Assets | 8.96% |
Tier One Risk Based Capital to Risk Weighted Assets | 16.35% |
Capital to Risk Weighted Assets | 17.61% |
In Accordance With the Written Agreement With the Office of the Comptroller of the Currency [Member] | |
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% |
Note 8 - Fair Value of Financ28
Note 8 - Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Dec. 31, 2016 | Mar. 31, 2016 |
Available for Sale, Fair Value | $ 2,104,869 | $ 2,150,093 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for Sale, Fair Value | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for Sale, Fair Value | 2,105,000 | 2,150,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for Sale, Fair Value |
Note 8 - Fair Value of Financ29
Note 8 - Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value On a Non-recurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | Dec. 31, 2016 | Mar. 31, 2016 |
Total | $ 6,575 | $ 6,729 |
Impaired Loans [Member] | ||
Impaired loans | 4,852 | 4,966 |
Real Estate Owned [Member] | ||
Real estate owned | $ 1,723 | $ 1,763 |
Note 8 - Fair Value of Financ30
Note 8 - Fair Value of Financial Instruments - Estimated Fair Value of Assets and Liabilities (Details) - USD ($) | Dec. 31, 2016 | Mar. 31, 2016 |
Investment securities-available for sale | $ 2,104,869 | $ 2,150,093 |
Held to Maturity, Fair Value | 21,848,380 | 21,706,150 |
FHLB stock | 124,300 | 253,800 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 11,023,000 | 12,127,000 |
Investment securities-available for sale | 2,105,000 | 2,122,000 |
Held to Maturity, Fair Value | 22,661,000 | 21,585,000 |
Impaired loans | 83,027,000 | 82,198,000 |
FHLB stock | 124,000 | |
Accrued interest receivable | 357,000 | 369,000 |
Bank–owned life insurance | 174,000 | 174,000 |
Real estate owned | 1,723,000 | 1,763,000 |
Total financial assets | 121,194,000 | 120,592,000 |
Deposits-non-interest bearing | 11,711,000 | 12,054,000 |
Deposits-interest bearing | 103,069,000 | 99,811,000 |
Advance payments by borrowers for taxes and insurance | 454,000 | 433,000 |
Accrued interest payable | 1,000 | 6,000 |
Total financial liabilities | 115,235,000 | 115,304 |
FHLB stock | 254,000 | |
Advances from Federal Home Loan Bank | 3,000,000 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 11,023,000 | 12,127,000 |
Investment securities-available for sale | ||
Held to Maturity, Fair Value | ||
Impaired loans | ||
FHLB stock | ||
Accrued interest receivable | 357,000 | 369,000 |
Bank–owned life insurance | 174,000 | 174,000 |
Real estate owned | ||
Total financial assets | 11,554,000 | 12,924,000 |
Deposits-non-interest bearing | 11,711,000 | 12,054,000 |
Deposits-interest bearing | ||
Advance payments by borrowers for taxes and insurance | 454,000 | 433,000 |
Accrued interest payable | 1,000 | 6,000 |
Total financial liabilities | 12,166,000 | 15,493 |
FHLB stock | 254,000 | |
Advances from Federal Home Loan Bank | 3,000,000 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | ||
Investment securities-available for sale | 2,105,000 | 2,150,000 |
Held to Maturity, Fair Value | 22,661,000 | 21,640,000 |
Impaired loans | ||
FHLB stock | ||
Accrued interest receivable | ||
Bank–owned life insurance | ||
Real estate owned | ||
Total financial assets | 24,766,000 | 23,790,000 |
Deposits-non-interest bearing | ||
Deposits-interest bearing | 102,350,000 | 99,900,000 |
Advance payments by borrowers for taxes and insurance | ||
Accrued interest payable | ||
Total financial liabilities | 102,350,000 | 99,900 |
FHLB stock | ||
Advances from Federal Home Loan Bank | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | ||
Investment securities-available for sale | ||
Held to Maturity, Fair Value | ||
Impaired loans | 82,942,000 | 84,744,000 |
FHLB stock | ||
Accrued interest receivable | ||
Bank–owned life insurance | ||
Real estate owned | 1,723,000 | 1,763,000 |
Total financial assets | 84,665,000 | 86,507,000 |
Deposits-non-interest bearing | ||
Deposits-interest bearing | ||
Advance payments by borrowers for taxes and insurance | ||
Accrued interest payable | ||
Total financial liabilities | ||
FHLB stock | ||
Advances from Federal Home Loan Bank |
Note 8 - Fair Value of Financ31
Note 8 - Fair Value of Financial Instruments - Off-balance Sheet Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Mar. 31, 2016 |
Commitments to Extend Credit [Member] | ||
Commitments to extend credit, contract value | $ 8,430 | $ 7,469 |
Note 9 - Loans (Details Textual
Note 9 - Loans (Details Textual) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2016USD ($) | Mar. 31, 2016USD ($) | |
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 | |
Advances from Federal Home Loan Banks | $ 3,000,000 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,010,000 | 2,018,000 |
Impaired Financing Receivable, Average Recorded Investment | 5,246,000 | 5,054,000 |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 125,000 | $ 201,000 |
Allowance for Loan and Lease Losses, Write-offs | $ 173,000 | |
Allowance for Loan Loss to Loans Outstanding Ratio | 1.21% | |
Increase (Decrease) in Non-performing Assets | $ 26,000 | |
Non-performing Assets As Percentage of Total Assets | 4.75% | 4.74% |
Downgraded Loans [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 6 | |
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | $ 1,300,000 | |
Loans Transferred to Real Estate Owned [Member] | ||
Allowance for Loan and Lease Losses, Write-offs | $ 102,000 | |
Number of Real Estate Properties | 2 | |
Total Charge-offs [Member] | ||
Allowance for Loan and Lease Losses, Write-offs | $ 40,000 | $ 71,000 |
Loans Receivables, Write Offs, Number of Relationships | 1 | 1 |
Partial Charge-offs [Member] | ||
Allowance for Loan and Lease Losses, Write-offs | $ 31,000 | $ 68,000 |
Loans Receivables, Write Offs, Number of Relationships | 1 | 3 |
Nonperforming Financial Instruments [Member] | Payment Deferral [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 6 | |
Advances from Federal Home Loan Banks | $ 871,000 | |
In Non-accrual Status [Member] | ||
Financing Receivable, Number of Contracts, Nonaccrual Status | 18 | 18 |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 3,300,000 | $ 2,800,000 |
Increase (Decrease) in Finance Receivables | $ 586,000 | |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 1,252,000 | $ 1,333,000 |
Allowance for Loan and Lease Losses, Write-offs | $ 102,000 | 40,000 |
Residential Portfolio Segment [Member] | Downgraded Loans [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 2 | |
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | $ 486,000 | |
Residential Portfolio Segment [Member] | Non-Accruals Transfer to Accruing Status [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | $ 100,000 | |
Residential Portfolio Segment [Member] | Loans Transferred to Real Estate Owned [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 2 | |
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | $ 468,000 | |
Residential Portfolio Segment [Member] | Maximum [Member] | ||
Loan Origination, Percentage of Appraised Value or Selling Price | 80.00% | |
Owner Occupied Property [Member] | Maximum [Member] | ||
Loan Term | 30 years | |
Non-owner Occupied Property [Member] | Maximum [Member] | ||
Loan Term | 30 years | |
Commercial Real Estate Portfolio Segment [Member] | ||
Allowance for Loan and Lease Losses, Write-offs | $ 71,000 | 17,000 |
Commercial Real Estate Portfolio Segment [Member] | Downgraded Loans [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 5 | |
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | $ 612,000 | |
Commercial Real Estate Portfolio Segment [Member] | Non-Accruals Transfer to Accruing Status [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
Allowance for Loan and Lease Losses, Write-offs | $ 40,000 | |
Commercial Real Estate Portfolio Segment [Member] | Maximum [Member] | ||
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] | ||
Interest Rate Maturity Or Re-price | 5 years | |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 21,000 | |
Allowance for Loan and Lease Losses, Write-offs | 71,000 | |
Consumer Portfolio Segment [Member] | Maximum [Member] | ||
Loan Origination, Percentage of Appraised Value or Selling Price | 80.00% | |
Home Equity Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 44,000 | 111,000 |
Allowance for Loan and Lease Losses, Write-offs | $ 11,000 | |
Home Equity Portfolio Segment [Member] | Downgraded Loans [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | $ 172,000 | |
Home Equity Portfolio Segment [Member] | Non-Accruals Transfer to Accruing Status [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest | $ 77,000 |
Note 9 - Loans - Loans (Details
Note 9 - Loans - Loans (Details) - USD ($) | Dec. 31, 2016 | Mar. 31, 2016 | Mar. 31, 2015 |
Loans | $ 84,109,000 | $ 83,374,000 | |
Net deferred loan origination fees | (66,000) | (77,000) | |
Allowance for loan losses | (1,016,218) | (1,099,232) | $ (1,185,000) |
Loans, net | 83,026,561 | 82,197,809 | |
Residential Portfolio Segment [Member] | |||
Loans | 62,069,000 | 62,251,000 | |
Allowance for loan losses | (561,000) | (568,000) | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans | 9,902,000 | 9,569,000 | |
Allowance for loan losses | (293,000) | (339,000) | |
Commercial Portfolio Segment [Member] | |||
Loans | 2,036,000 | 2,290,000 | |
Allowance for loan losses | (68,000) | (80,000) | |
Home Equity Portfolio Segment [Member] | |||
Loans | 8,825,000 | 8,528,000 | |
Allowance for loan losses | (74,000) | (87,000) | |
Consumer Portfolio Segment [Member] | |||
Loans | 642,000 | 682,000 | |
Allowance for loan losses | (18,000) | (25,000) | |
Construction Portfolio Segment [Member] | |||
Loans | 635,000 | 54,000 | |
Allowance for loan losses | $ (2,000) |
Note 9 - Loans - Loans by Credi
Note 9 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Mar. 31, 2016 |
Loans | $ 84,109 | $ 83,374 |
Nonperforming Financial Instruments [Member] | ||
Loans | 4,436 | |
Residential Portfolio Segment [Member] | ||
Loans | 62,069 | 62,251 |
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 2,957 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 9,902 | 9,569 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 1,176 | |
Commercial Portfolio Segment [Member] | ||
Loans | 2,036 | 2,290 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 206 | |
Home Equity Portfolio Segment [Member] | ||
Loans | 8,825 | 8,528 |
Home Equity Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 44 | |
Consumer Portfolio Segment [Member] | ||
Loans | 642 | 682 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | ||
Construction Portfolio Segment [Member] | ||
Loans | 635 | $ 54 |
Construction Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 53 | |
Pass [Member] | ||
Loans | 79,499 | |
Pass [Member] | Residential Portfolio Segment [Member] | ||
Loans | 59,112 | |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 8,552 | |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 1,830 | |
Pass [Member] | Home Equity Portfolio Segment [Member] | ||
Loans | 8,781 | |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 642 | |
Pass [Member] | Construction Portfolio Segment [Member] | ||
Loans | 582 | |
Special Mention [Member] | ||
Loans | ||
Special Mention [Member] | Residential Portfolio Segment [Member] | ||
Loans | ||
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | ||
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Loans | ||
Special Mention [Member] | Home Equity Portfolio Segment [Member] | ||
Loans | ||
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans | ||
Special Mention [Member] | Construction Portfolio Segment [Member] | ||
Loans | ||
Classified Loans [Member] | ||
Loans | 174 | |
Classified Loans [Member] | Residential Portfolio Segment [Member] | ||
Loans | ||
Classified Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 174 | |
Classified Loans [Member] | Commercial Portfolio Segment [Member] | ||
Loans | ||
Classified Loans [Member] | Home Equity Portfolio Segment [Member] | ||
Loans | ||
Classified Loans [Member] | Consumer Portfolio Segment [Member] | ||
Loans | ||
Classified Loans [Member] | Construction Portfolio Segment [Member] | ||
Loans |
Note 9 - Loans - Past-due Loans
Note 9 - Loans - Past-due Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Mar. 31, 2016 |
Past due loans | $ 4,818 | |
Current loans | 79,291 | |
Loans | $ 84,109 | $ 83,374 |
Percentage past due loans | 5.70% | |
Percentage of current loans | 94.30% | |
Percentage of Total Loans | 100.00% | |
Residential Portfolio Segment [Member] | ||
Past due loans | $ 3,178 | |
Current loans | 58,891 | |
Loans | 62,069 | 62,251 |
Commercial Real Estate Portfolio Segment [Member] | ||
Past due loans | 933 | |
Current loans | 8,969 | |
Loans | 9,902 | 9,569 |
Commercial Portfolio Segment [Member] | ||
Past due loans | 385 | |
Current loans | 1,651 | |
Loans | 2,036 | 2,290 |
Home Equity Portfolio Segment [Member] | ||
Past due loans | 304 | |
Current loans | 8,521 | |
Loans | 8,825 | 8,528 |
Consumer Portfolio Segment [Member] | ||
Past due loans | 18 | |
Current loans | 624 | |
Loans | 642 | 682 |
Construction Portfolio Segment [Member] | ||
Past due loans | ||
Current loans | 635 | |
Loans | 635 | $ 54 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due loans | $ 715 | |
Percentage past due loans | 0.80% | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Past due loans | $ 712 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Past due loans | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past due loans | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity Portfolio Segment [Member] | ||
Past due loans | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Past due loans | 3 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Portfolio Segment [Member] | ||
Past due loans | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due loans | $ 1,029 | |
Percentage past due loans | 1.20% | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Past due loans | $ 473 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Past due loans | 239 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past due loans | 214 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity Portfolio Segment [Member] | ||
Past due loans | 88 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Past due loans | 15 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Construction Portfolio Segment [Member] | ||
Past due loans | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due loans | $ 3,074 | |
Percentage past due loans | 3.70% | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Past due loans | $ 1,993 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Past due loans | 694 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past due loans | 171 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Home Equity Portfolio Segment [Member] | ||
Past due loans | 216 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Past due loans | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction Portfolio Segment [Member] | ||
Past due loans |
Note 9 - Loans - Impaired Loans
Note 9 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Dec. 31, 2016 | Mar. 31, 2016 | |
Impaired loans for which a valuation allowance has been provided | ||
Impaired loans for which no valuation allowance has been provided | 5,031 | 4,966 |
Total loans determined to be impaired | 5,031 | 4,966 |
Allowance for loans losses related to impaired loans | ||
Average recorded investment in impaired loans | 5,246 | 5,054 |
Cash basis interest income recognized on impaired loans | $ 125 | $ 201 |
Note 9 - Loans - Impaired Loa37
Note 9 - Loans - Impaired Loans by Portfolio (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Dec. 31, 2016 | Mar. 31, 2016 | |
Recorded Investment | $ 5,120 | $ 5,017 |
Impaired loans for which no valuation allowance has been provided | 5,031 | 4,966 |
Average Recorded Investment | 5,246 | 5,054 |
Interest Income Recognized While On Impaired Statues | 125 | 201 |
Residential Portfolio Segment [Member] | ||
Recorded Investment | 2,371 | 2,964 |
Impaired loans for which no valuation allowance has been provided | 2,315 | 2,920 |
Average Recorded Investment | 2,822 | 2,913 |
Interest Income Recognized While On Impaired Statues | 38 | 71 |
Commercial Real Estate Portfolio Segment [Member] | ||
Recorded Investment | 2,167 | 1,938 |
Impaired loans for which no valuation allowance has been provided | 2,146 | 1,935 |
Average Recorded Investment | 2,025 | 1,992 |
Interest Income Recognized While On Impaired Statues | 71 | 117 |
Commercial Portfolio Segment [Member] | ||
Recorded Investment | 206 | 56 |
Impaired loans for which no valuation allowance has been provided | 206 | 56 |
Average Recorded Investment | 139 | 34 |
Interest Income Recognized While On Impaired Statues | 7 | 9 |
Home Equity Portfolio Segment [Member] | ||
Recorded Investment | 318 | |
Impaired loans for which no valuation allowance has been provided | 311 | |
Average Recorded Investment | 200 | 39 |
Interest Income Recognized While On Impaired Statues | 7 | 1 |
Consumer Portfolio Segment [Member] | ||
Recorded Investment | ||
Impaired loans for which no valuation allowance has been provided | ||
Average Recorded Investment | 2 | 16 |
Interest Income Recognized While On Impaired Statues | ||
Construction Portfolio Segment [Member] | ||
Recorded Investment | 58 | 59 |
Impaired loans for which no valuation allowance has been provided | 53 | 54 |
Average Recorded Investment | 58 | 60 |
Interest Income Recognized While On Impaired Statues | $ 2 | $ 3 |
Note 9 - Loans - Nonaccrual Loa
Note 9 - Loans - Nonaccrual Loans (Details) - USD ($) | Dec. 31, 2016 | Mar. 31, 2016 | Mar. 31, 2015 |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 2,010,000 | $ 2,018,000 | |
Accruing loans past 90 days or more | |||
Troubled debt restructings | 2,426,000 | 2,351,000 | |
Real estate owned | 1,722,800 | 1,763,628 | $ 2,433,000 |
Total non-performing assets | $ 129,565,775 | $ 129,415,025 | |
Non-performing loans as a percentage of loans | 5.27% | 5.24% | |
Non-performing assets as a percentage of loans and real estate owned | 7.18% | 7.20% | |
Non-performing assets as percentage of total assets | 4.75% | 4.74% | |
Nonperforming Financial Instruments [Member] | |||
Troubled debt restructings | $ 1,339,000 | $ 744,000 | |
Total non-performing loans | 4,436,000 | 4,369,000 | |
Real estate owned | 1,723,000 | 1,764,000 | |
Total non-performing assets | 6,159,000 | 6,133,000 | |
Performing Financial Instruments [Member] | |||
Troubled debt restructings | 1,087,000 | 1,607,000 | |
Residential Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,252,000 | 1,333,000 | |
Accruing loans past 90 days or more | |||
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled debt restructings | 914,000 | 744,000 | |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled debt restructings | 791,000 | 787,000 | |
Multi-family and Commercial Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 508,000 | 553,000 | |
Accruing loans past 90 days or more | |||
Multi-family and Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled debt restructings | 425,000 | ||
Multi-family and Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled debt restructings | 243,000 | 766,000 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 206,000 | ||
Accruing loans past 90 days or more | |||
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled debt restructings | |||
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled debt restructings | |||
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 21,000 | ||
Accruing loans past 90 days or more | |||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled debt restructings | |||
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled debt restructings | |||
Home Equity Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 44,000 | 111,000 | |
Accruing loans past 90 days or more | |||
Home Equity Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled debt restructings | |||
Home Equity Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled debt restructings | |||
Construction Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | |||
Accruing loans past 90 days or more | |||
Construction Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled debt restructings | |||
Construction Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled debt restructings | $ 53,000 | $ 54,000 |
Note 9 - Loans - Troubled Debt
Note 9 - Loans - Troubled Debt Restructurings (Details) - Residential Portfolio Segment [Member] $ in Thousands | 9 Months Ended | 12 Months Ended |
Dec. 31, 2016USD ($) | Mar. 31, 2016USD ($) | |
Number of Contracts | 1 | 1 |
Outstanding Recorded Investment Pre-Modification | $ 77 | $ 164 |
Outstanding Recorded Investment Post-Modification | $ 95 | $ 173 |
Note 9 - Loans - Troubled Deb40
Note 9 - Loans - Troubled Debt Restructurings Subsequent Default (Details) - Residential Portfolio Segment [Member] | 9 Months Ended | 12 Months Ended |
Dec. 31, 2016USD ($) | Mar. 31, 2016USD ($) | |
Troubled debt restructurings that subsequently defaulted, number of contracts | ||
Troubled debt restructurings that subsequently defaulted, recorded investment |
Note 9 - Loans - Real Estate Ow
Note 9 - Loans - Real Estate Owned (REO), Net of Valuation Allowance (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2016 | |
Balance, beginning of period | $ 1,763,628 | $ 2,433,000 | $ 2,433,000 | ||
Additions from loan foreclosures | 610,000 | 332,000 | |||
Additions from capitalized costs | 9,000 | ||||
Dispositions of REO | (595,000) | (752,000) | |||
Gain (loss) on sale of REO | $ 300 | $ (1,115) | (2,540) | (3,096) | (3,000) |
Valuation adjustments in the period | (62,000) | (246,000) | |||
Balance, end of period | 1,722,800 | 1,722,800 | 1,763,628 | ||
Balance, beginning of period | 227,000 | 851,000 | 851,000 | ||
Valuation adjustments added in the period | 62,000 | 247,000 | |||
Valuation adjustments on disposed properties during the period | (185,000) | (871,000) | |||
Balance, end of period | $ 104,000 | $ 227,000 | $ 851,000 | $ 851,000 |
Note 9 - Loans - Allowance for
Note 9 - Loans - Allowance for Losses on Loans and Charge-offs (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2016 | |
Balance, beginning of year | $ 1,099,232 | $ 1,185,000 | $ 1,185,000 | ||
Provision | $ 26,000 | (22,000) | $ 10,000 | (71,000) | |
Allowance for Loan and Lease Losses, Write-offs | 173,000 | ||||
Recoveries | (112,000) | (124,000) | |||
Total Net Charge-Offs | 61,000 | 15,000 | |||
Balance, end of period | 1,016,218 | 1,016,218 | 1,099,232 | ||
Period-end loans outstanding | $ 84,109,000 | 84,109,000 | 83,374,000 | ||
Average loans outstanding | $ 83,416,000 | $ 83,666,000 | |||
Allowance as a percentage of period-end loans | 1.21% | 1.21% | 1.32% | ||
Net charge-offs as a percentage of average loans | 0.07% | 0.07% | 0.02% | ||
Commercial Portfolio Segment [Member] | |||||
Balance, beginning of year | $ 80,000 | ||||
Provision | (40,000) | $ (12,000) | |||
Allowance for Loan and Lease Losses, Write-offs | |||||
Recoveries | (28,000) | ||||
Balance, end of period | $ 68,000 | 68,000 | 80,000 | ||
Period-end loans outstanding | 2,036,000 | 2,036,000 | 2,290,000 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||
Balance, beginning of year | 339,000 | ||||
Provision | (23,000) | 9,000 | |||
Allowance for Loan and Lease Losses, Write-offs | 71,000 | 17,000 | |||
Recoveries | (48,000) | ||||
Balance, end of period | 293,000 | 293,000 | 339,000 | ||
Period-end loans outstanding | 9,902,000 | 9,902,000 | 9,569,000 | ||
Residential Portfolio Segment [Member] | |||||
Balance, beginning of year | 568,000 | ||||
Provision | 87,000 | (132,000) | |||
Allowance for Loan and Lease Losses, Write-offs | 102,000 | 40,000 | |||
Recoveries | (8,000) | ||||
Balance, end of period | 561,000 | 561,000 | 568,000 | ||
Period-end loans outstanding | 62,069,000 | 62,069,000 | 62,251,000 | ||
Home Equity Portfolio Segment [Member] | |||||
Balance, beginning of year | 87,000 | ||||
Provision | (13,000) | 11,000 | |||
Allowance for Loan and Lease Losses, Write-offs | 11,000 | ||||
Recoveries | |||||
Balance, end of period | 74,000 | 74,000 | 87,000 | ||
Period-end loans outstanding | 8,825,000 | 8,825,000 | 8,528,000 | ||
Consumer Portfolio Segment [Member] | |||||
Balance, beginning of year | 25,000 | ||||
Provision | (35,000) | 53,000 | |||
Allowance for Loan and Lease Losses, Write-offs | 71,000 | ||||
Recoveries | (28,000) | ||||
Balance, end of period | 18,000 | 18,000 | 25,000 | ||
Period-end loans outstanding | 642,000 | 642,000 | 682,000 | ||
Construction Portfolio Segment [Member] | |||||
Balance, beginning of year | |||||
Provision | 2,000 | ||||
Allowance for Loan and Lease Losses, Write-offs | |||||
Recoveries | |||||
Balance, end of period | 2,000 | 2,000 | |||
Period-end loans outstanding | $ 635,000 | $ 635,000 | $ 54,000 |
Note 9 - Loans - Allowance fo43
Note 9 - Loans - Allowance for Loan Losses (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2016 | |
Balance, beginning of year | $ 1,099,232 | $ 1,185,000 | $ 1,185,000 | ||
Loan charge-offs | (173,000) | ||||
Recoveries | 112,000 | 124,000 | |||
Provision for loan losses | $ 26,000 | (22,000) | $ 10,000 | (71,000) | |
Balance, end of period | 1,016,218 | 1,016,218 | 1,099,232 | ||
Ending balance for loans individually evaluated for impairment | 4,852,000 | 4,852,000 | |||
Ending balance for loans collectively evaluated for impairment | 79,257,000 | 79,257,000 | |||
Ending balance | 84,109,000 | 84,109,000 | 83,374,000 | ||
Ending balance: loans individually evaluated for impairment | 4,852,000 | 4,852,000 | |||
Ending balance: loans collectively evaluated for impairment | 79,257,000 | 79,257,000 | |||
Commercial Portfolio Segment [Member] | |||||
Balance, beginning of year | 80,000 | ||||
Loan charge-offs | |||||
Recoveries | 28,000 | ||||
Provision for loan losses | (40,000) | (12,000) | |||
Balance, end of period | 68,000 | 68,000 | 80,000 | ||
Ending balance for loans individually evaluated for impairment | 133,000 | 133,000 | |||
Ending balance for loans collectively evaluated for impairment | 1,903,000 | 1,903,000 | |||
Ending balance | 2,036,000 | 2,036,000 | 2,290,000 | ||
Ending balance: loans individually evaluated for impairment | 133,000 | 133,000 | |||
Ending balance: loans collectively evaluated for impairment | 1,903,000 | 1,903,000 | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Balance, beginning of year | 339,000 | ||||
Loan charge-offs | (71,000) | (17,000) | |||
Recoveries | 48,000 | ||||
Provision for loan losses | (23,000) | 9,000 | |||
Balance, end of period | 293,000 | 293,000 | 339,000 | ||
Ending balance for loans individually evaluated for impairment | 1,666,000 | 1,666,000 | |||
Ending balance for loans collectively evaluated for impairment | 8,236,000 | 8,236,000 | |||
Ending balance | 9,902,000 | 9,902,000 | 9,569,000 | ||
Ending balance: loans individually evaluated for impairment | 1,666,000 | 1,666,000 | |||
Ending balance: loans collectively evaluated for impairment | 8,236,000 | 8,236,000 | |||
Residential Portfolio Segment [Member] | |||||
Balance, beginning of year | 568,000 | ||||
Loan charge-offs | (102,000) | (40,000) | |||
Recoveries | 8,000 | ||||
Provision for loan losses | 87,000 | (132,000) | |||
Balance, end of period | 561,000 | 561,000 | 568,000 | ||
Ending balance for loans individually evaluated for impairment | 2,455,000 | 2,455,000 | |||
Ending balance for loans collectively evaluated for impairment | 59,614,000 | 59,614,000 | |||
Ending balance | 62,069,000 | 62,069,000 | 62,251,000 | ||
Ending balance: loans individually evaluated for impairment | 2,455,000 | 2,455,000 | |||
Ending balance: loans collectively evaluated for impairment | 59,614,000 | 59,614,000 | |||
Home Equity Portfolio Segment [Member] | |||||
Balance, beginning of year | 87,000 | ||||
Loan charge-offs | (11,000) | ||||
Recoveries | |||||
Provision for loan losses | (13,000) | 11,000 | |||
Balance, end of period | 74,000 | 74,000 | 87,000 | ||
Ending balance for loans individually evaluated for impairment | 545,000 | 545,000 | |||
Ending balance for loans collectively evaluated for impairment | 8,280,000 | 8,280,000 | |||
Ending balance | 8,825,000 | 8,825,000 | 8,528,000 | ||
Ending balance: loans individually evaluated for impairment | 545,000 | 545,000 | |||
Ending balance: loans collectively evaluated for impairment | 8,280,000 | 8,280,000 | |||
Consumer Portfolio Segment [Member] | |||||
Balance, beginning of year | 25,000 | ||||
Loan charge-offs | (71,000) | ||||
Recoveries | 28,000 | ||||
Provision for loan losses | (35,000) | 53,000 | |||
Balance, end of period | 18,000 | 18,000 | 25,000 | ||
Ending balance for loans individually evaluated for impairment | |||||
Ending balance for loans collectively evaluated for impairment | 642,000 | 642,000 | |||
Ending balance | 642,000 | 642,000 | 682,000 | ||
Ending balance: loans individually evaluated for impairment | |||||
Ending balance: loans collectively evaluated for impairment | 642,000 | 642,000 | |||
Construction Portfolio Segment [Member] | |||||
Balance, beginning of year | |||||
Loan charge-offs | |||||
Recoveries | |||||
Provision for loan losses | 2,000 | ||||
Balance, end of period | 2,000 | 2,000 | |||
Ending balance for loans individually evaluated for impairment | 53,000 | 53,000 | |||
Ending balance for loans collectively evaluated for impairment | 582,000 | 582,000 | |||
Ending balance | 635,000 | 635,000 | $ 54,000 | ||
Ending balance: loans individually evaluated for impairment | 53,000 | 53,000 | |||
Ending balance: loans collectively evaluated for impairment | $ 582,000 | $ 582,000 |
Note 10 - Investment Securiti44
Note 10 - Investment Securities (Details Textual) - Debt Securities [Member] | Dec. 31, 2016 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 42 |
Securities in Unrealized Loss Positions, Depreciated Percentage from Amortized Cost | 3.90% |
Note 10 - Investment Securiti45
Note 10 - Investment Securities - Held-to-maturity Securities (Details) - USD ($) | Dec. 31, 2016 | Mar. 31, 2016 |
Held-to-Maturity, Amortized Cost | $ 22,660,982 | $ 21,584,538 |
Held-to-Maturity, Gross Unrealized Gains | 45,000 | 139,000 |
Held-to-Maturity, Gross Unrealized Losses | (858,000) | (18,000) |
Held-to-Maturity, Fair Value | 21,848,380 | 21,706,150 |
Federal Farm Credit Bonds [Member] | ||
Held-to-Maturity, Amortized Cost | 8,065,000 | 9,438,000 |
Held-to-Maturity, Gross Unrealized Gains | 21,000 | |
Held-to-Maturity, Gross Unrealized Losses | (324,000) | (1,000) |
Held-to-Maturity, Fair Value | 7,741,000 | 9,458,000 |
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | ||
Held-to-Maturity, Amortized Cost | 8,353,000 | 5,802,000 |
Held-to-Maturity, Gross Unrealized Gains | 28,000 | |
Held-to-Maturity, Gross Unrealized Losses | (368,000) | (4,000) |
Held-to-Maturity, Fair Value | 7,985,000 | 5,826,000 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Held-to-Maturity, Amortized Cost | 1,000,000 | 732,000 |
Held-to-Maturity, Gross Unrealized Gains | ||
Held-to-Maturity, Gross Unrealized Losses | (55,000) | |
Held-to-Maturity, Fair Value | 945,000 | 732,000 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Held-to-Maturity, Amortized Cost | 3,000,000 | 4,000,000 |
Held-to-Maturity, Gross Unrealized Gains | 17,000 | |
Held-to-Maturity, Gross Unrealized Losses | (107,000) | |
Held-to-Maturity, Fair Value | 2,893,000 | 4,017,000 |
Municipal Bonds [Member] | ||
Held-to-Maturity, Amortized Cost | 1,536,000 | 736,000 |
Held-to-Maturity, Gross Unrealized Gains | ||
Held-to-Maturity, Gross Unrealized Losses | (4,000) | (1,000) |
Held-to-Maturity, Fair Value | 1,532,000 | 735,000 |
Bonds [Member] | ||
Held-to-Maturity, Amortized Cost | 21,954,000 | 20,708,000 |
Held-to-Maturity, Gross Unrealized Gains | 66,000 | |
Held-to-Maturity, Gross Unrealized Losses | (858,000) | (6,000) |
Held-to-Maturity, Fair Value | 21,096,000 | 20,768,000 |
Mortgage Backed Securities, Federal Home Loan Mortgage Corporation [Member] | ||
Held-to-Maturity, Amortized Cost | 245,000 | 322,000 |
Held-to-Maturity, Gross Unrealized Gains | 11,000 | 26,000 |
Held-to-Maturity, Gross Unrealized Losses | (8,000) | |
Held-to-Maturity, Fair Value | 256,000 | 340,000 |
Mortgage Backed Securities, Federal National Mortgage Association [Member] | ||
Held-to-Maturity, Amortized Cost | 329,000 | 398,000 |
Held-to-Maturity, Gross Unrealized Gains | 30,000 | 40,000 |
Held-to-Maturity, Gross Unrealized Losses | (3,000) | |
Held-to-Maturity, Fair Value | 359,000 | 435,000 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Held-to-Maturity, Amortized Cost | 133,000 | 157,000 |
Held-to-Maturity, Gross Unrealized Gains | 4,000 | 7,000 |
Held-to-Maturity, Gross Unrealized Losses | (1,000) | |
Held-to-Maturity, Fair Value | 137,000 | 163,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Held-to-Maturity, Amortized Cost | 707,000 | 877,000 |
Held-to-Maturity, Gross Unrealized Gains | 45,000 | 73,000 |
Held-to-Maturity, Gross Unrealized Losses | (12,000) | |
Held-to-Maturity, Fair Value | $ 752,000 | $ 938,000 |
Note 10 - Investment Securiti46
Note 10 - Investment Securities - Available-for-sale Securities (Details) - USD ($) | Dec. 31, 2016 | Mar. 31, 2016 |
Available for Sale, Amortized Cost | $ 2,096,668 | $ 2,121,777 |
Available for Sale, Gross Unrealized Gains | 10,000 | 33,000 |
Available for Sale, Gross Unrealized Losses | (2,000) | (5,000) |
Available for Sale, Fair Value | 2,104,869 | 2,150,093 |
Certificates of Deposit [Member] | ||
Available for Sale, Amortized Cost | 2,000,000 | 1,500,000 |
Available for Sale, Gross Unrealized Gains | 10,000 | 31,000 |
Available for Sale, Gross Unrealized Losses | ||
Available for Sale, Fair Value | 2,010,000 | 1,531,000 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Available for Sale, Amortized Cost | 500,000 | |
Available for Sale, Gross Unrealized Gains | ||
Available for Sale, Gross Unrealized Losses | (3,000) | |
Available for Sale, Fair Value | 497,000 | |
Mutual Fund Shares [Member] | ||
Available for Sale, Amortized Cost | 97,000 | 122,000 |
Available for Sale, Gross Unrealized Gains | 2,000 | |
Available for Sale, Gross Unrealized Losses | (2,000) | (2,000) |
Available for Sale, Fair Value | $ 95,000 | $ 122,000 |
Note 10 - Investment Securiti47
Note 10 - Investment Securities - Maturities of Securities (Details) - USD ($) | Dec. 31, 2016 | Mar. 31, 2016 |
Held to Maturity, One year or less, Amortized Cost | $ 1,536,000 | $ 736,000 |
Held to Maturity, One year or less, Fair Value | 1,532,000 | 735,000 |
Available for Sale, One year or less, Amortized Cost | ||
Available for Sale, One year or less, Fair Value | ||
Held to Maturity, After one year through five years, Amortized Cost | 500,000 | 945,000 |
Held to Maturity, After one year through five years, Fair Value | 496,000 | 945,000 |
Available for Sale, After one year through five years, Amortized Cost | 2,000,000 | 1,000,000 |
Available for Sale, After one year through five years, Fair Value | 2,010,000 | 1,025,000 |
Held to Maturity, After five years through ten years, Amortized Cost | 8,576,000 | 8,380,000 |
Held to Maturity, After five years through ten years, Fair Value | 8,287,000 | 8,384,000 |
Available for Sale, After five years through ten years, Amortized Cost | 1,000,000 | |
Available for Sale, After five years through ten years, Fair Value | 1,003,000 | |
Held to Maturity, After ten years, Amortized Cost | 12,049,000 | 11,524,000 |
Held to Maturity, After ten years, Fair Value | 11,533,000 | 11,642,000 |
Available for Sale, After ten years, Amortized Cost | ||
Available for Sale, After ten years, Fair Value | ||
Equity securities, Amortized Cost | 97,000 | 122,000 |
Equity securities, Fair Value | 95,000 | 122,000 |
Held-to-Maturity, Amortized Cost | 22,660,982 | 21,584,538 |
Held to Maturity, Fair Value | 21,848,380 | 21,706,150 |
Available for Sale, Amortized Cost | 2,097,000 | 2,122,000 |
Available for Sale, Fair Value | $ 2,105,000 | $ 2,150,000 |
Note 10 - Investment Securiti48
Note 10 - Investment Securities - Securities With Gross Unrealized Losses (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Mar. 31, 2016 |
Continuous Unrealized Losses Existing For Less Than 12 Months Fair Value | $ 21,100 | $ 735 |
Continuous Unrealized Losses Existing For Less Than 12 Months Unrealized Losses | (858) | (1) |
Total Fair Value | 21,100 | 2,570 |
Total Unrealized Losses | (858) | (23) |
Continuous Unrealized Losses Existing For 12 Months or Greater Fair Value | 1,835 | |
Continuous Unrealized Losses Existing For 12 Months or Greater Unrealized Losses | (22) | |
Federal Farm Credit Bonds [Member] | ||
Continuous Unrealized Losses Existing For Less Than 12 Months Fair Value | 7,741 | |
Continuous Unrealized Losses Existing For Less Than 12 Months Unrealized Losses | (324) | |
Total Fair Value | 7,741 | 499 |
Total Unrealized Losses | (324) | (1) |
Continuous Unrealized Losses Existing For 12 Months or Greater Fair Value | 499 | |
Continuous Unrealized Losses Existing For 12 Months or Greater Unrealized Losses | (1) | |
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | ||
Continuous Unrealized Losses Existing For Less Than 12 Months Fair Value | 7,985 | |
Continuous Unrealized Losses Existing For Less Than 12 Months Unrealized Losses | (368) | |
Total Fair Value | 7,985 | 496 |
Total Unrealized Losses | (368) | (4) |
Continuous Unrealized Losses Existing For 12 Months or Greater Fair Value | 496 | |
Continuous Unrealized Losses Existing For 12 Months or Greater Unrealized Losses | (4) | |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Continuous Unrealized Losses Existing For Less Than 12 Months Fair Value | 2,893 | |
Continuous Unrealized Losses Existing For Less Than 12 Months Unrealized Losses | (107) | |
Total Fair Value | 2,893 | 497 |
Total Unrealized Losses | (107) | (3) |
Continuous Unrealized Losses Existing For 12 Months or Greater Fair Value | 497 | |
Continuous Unrealized Losses Existing For 12 Months or Greater Unrealized Losses | (3) | |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Continuous Unrealized Losses Existing For Less Than 12 Months Fair Value | 945 | |
Continuous Unrealized Losses Existing For Less Than 12 Months Unrealized Losses | (55) | |
Total Fair Value | 945 | 103 |
Total Unrealized Losses | (55) | (8) |
Continuous Unrealized Losses Existing For 12 Months or Greater Fair Value | 103 | |
Continuous Unrealized Losses Existing For 12 Months or Greater Unrealized Losses | (8) | |
Municipal Bonds [Member] | ||
Continuous Unrealized Losses Existing For Less Than 12 Months Fair Value | 1,536 | 735 |
Continuous Unrealized Losses Existing For Less Than 12 Months Unrealized Losses | (4) | (1) |
Total Fair Value | 1,536 | 735 |
Total Unrealized Losses | $ (4) | (1) |
Continuous Unrealized Losses Existing For 12 Months or Greater Fair Value | ||
Continuous Unrealized Losses Existing For 12 Months or Greater Unrealized Losses | ||
Mutual Fund Shares [Member] | ||
Continuous Unrealized Losses Existing For Less Than 12 Months Fair Value | ||
Continuous Unrealized Losses Existing For Less Than 12 Months Unrealized Losses | ||
Total Fair Value | 64 | |
Total Unrealized Losses | (2) | |
Continuous Unrealized Losses Existing For 12 Months or Greater Fair Value | 64 | |
Continuous Unrealized Losses Existing For 12 Months or Greater Unrealized Losses | (2) | |
Bonds [Member] | ||
Continuous Unrealized Losses Existing For Less Than 12 Months Fair Value | 735 | |
Continuous Unrealized Losses Existing For Less Than 12 Months Unrealized Losses | (1) | |
Total Fair Value | 2,291 | |
Total Unrealized Losses | (11) | |
Continuous Unrealized Losses Existing For 12 Months or Greater Fair Value | 1,556 | |
Continuous Unrealized Losses Existing For 12 Months or Greater Unrealized Losses | (10) | |
Mortgage Backed Securities, Federal National Mortgage Association [Member] | ||
Continuous Unrealized Losses Existing For Less Than 12 Months Fair Value | ||
Continuous Unrealized Losses Existing For Less Than 12 Months Unrealized Losses | ||
Total Fair Value | 154 | |
Total Unrealized Losses | (3) | |
Continuous Unrealized Losses Existing For 12 Months or Greater Fair Value | 154 | |
Continuous Unrealized Losses Existing For 12 Months or Greater Unrealized Losses | (3) | |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ||
Continuous Unrealized Losses Existing For Less Than 12 Months Fair Value | ||
Continuous Unrealized Losses Existing For Less Than 12 Months Unrealized Losses | ||
Total Fair Value | 22 | |
Total Unrealized Losses | (1) | |
Continuous Unrealized Losses Existing For 12 Months or Greater Fair Value | 22 | |
Continuous Unrealized Losses Existing For 12 Months or Greater Unrealized Losses | (1) | |
Commercial Mortgage Backed Securities [Member] | ||
Continuous Unrealized Losses Existing For Less Than 12 Months Fair Value | ||
Continuous Unrealized Losses Existing For Less Than 12 Months Unrealized Losses | ||
Total Fair Value | 279 | |
Total Unrealized Losses | (12) | |
Continuous Unrealized Losses Existing For 12 Months or Greater Fair Value | 279 | |
Continuous Unrealized Losses Existing For 12 Months or Greater Unrealized Losses | $ (12) |