Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Jun. 30, 2017 | Aug. 07, 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 | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 |
ASSETS | ||
Cash and amounts due from banks | $ 390,772 | $ 511,355 |
Interest-bearing deposits | 6,825,755 | 6,487,188 |
Total cash and cash equivalents | 7,216,527 | 6,998,543 |
Investment Securities | ||
Securities available-for-sale (amortized cost of $2,582,944 and $2,588,817 at June 30, 2017 and March 31, 2017, respectively) | 2,591,470 | 2,594,888 |
Securities held-to-maturity (fair value $21,954,235 and $21,797,695 at June 30, 2017 and March 31, 2017, respectively) | 22,575,925 | 22,622,835 |
Total investment securities | 25,167,395 | 25,217,723 |
Loans, net of allowance for loan losses of $1,005,316 at June 30, 2017 (unaudited), $1,001,449 at March 31, 2017 | 83,825,378 | 84,414,361 |
Accrued interest receivable | 356,505 | 378,243 |
Real estate owned | 1,219,083 | 1,271,302 |
Federal Home Loan Bank, at cost | 122,400 | 124,300 |
Premises and equipment, net | 5,995,473 | 6,047,703 |
Deferred income taxes | 1,906,470 | 1,981,950 |
Bank-owned life insurance | 178,514 | 178,514 |
Other assets | 268,487 | 374,714 |
Total assets | 126,256,232 | 126,987,353 |
LIABILITIES | ||
Non-interest bearing deposits | 10,661,622 | 11,703,567 |
Interest bearing deposits | 100,534,848 | 100,377,179 |
Total deposits | 111,196,470 | 112,080,746 |
Accrued interest payable | 5,762 | 6,273 |
Advance payments by borrowers for taxes and insurance | 526,770 | 500,485 |
Other liabilities | 966,516 | 908,005 |
Total liabilities | 112,695,518 | 113,495,509 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $.01 par value, 5,000,000 authorized at June 30, 2017 and March 31, 2017, no shares issued | ||
Common stock, $.01 par value, 20,000,000 shares authorized; 945,425 shares issued and outstanding at June 30, 2017 and March 31, 2017 | 9,454 | 9,454 |
Additional paid-in capital | 10,040,983 | 10,029,506 |
Retained earnings, substantially restricted | 4,092,385 | 4,036,465 |
Unearned common stock held by employee stock ownership plan | (455,514) | (455,514) |
Accumulated other comprehensive (loss) | (126,594) | (128,067) |
Total stockholder’s equity | 13,560,714 | 13,491,844 |
Total liabilities and stockholders’ equity | $ 126,256,232 | $ 126,987,353 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 |
Investment securities available-for-sale, amortized cost | $ 2,582,944 | $ 2,588,817 |
Investment and mortgage backed securities held-to-maturity, fair value | 21,954,235 | 21,797,695 |
Loans, allowance for loan losses | $ 1,005,316 | $ 1,001,449 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 5,000,000 | |
Preferred stock, shares issued (in shares) | 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 | |
Jun. 30, 2017 | Jun. 30, 2016 | |
INTEREST INCOME | ||
Loans | $ 898,979 | $ 892,478 |
Investment securities | 157,521 | 174,933 |
Total interest income | 1,056,500 | 1,067,411 |
INTEREST EXPENSE | ||
Interest-bearing checking accounts | 8,338 | 10,741 |
Passbook and money market accounts | 30,977 | 29,667 |
Certificates of deposits | 84,295 | 91,440 |
Federal Home Loan Bank Advances | 15 | 2,748 |
Total interest expense | 123,625 | 134,596 |
Net interest income | 932,875 | 932,815 |
Recapture of loan loss | (20,000) | (48,000) |
Net interest income after recapture for loan losses | 952,875 | 980,815 |
NON-INTEREST INCOME | ||
(Loss) on sale of real estate owned | (5,532) | |
Gain on sale of an asset | 71,516 | |
Service charges | 29,020 | 32,835 |
Rental income | 9,600 | 12,435 |
Other | 4,107 | 3,480 |
Total non-interest income | 114,243 | 43,218 |
NON-INTEREST EXPENSE | ||
Salaries and employee benefits | 410,376 | 397,028 |
Advertising | 4,218 | 4,565 |
Office supplies, telephone and postage | 26,100 | 25,232 |
Loan expenses | 13,373 | 28,376 |
Net occupancy expense | 141,094 | 143,376 |
Real estate loss reserve | 52,218 | 13,100 |
Federal insurance premiums | 22,031 | 42,798 |
Data processing expenses | 61,817 | 64,614 |
ATM expenses | 11,443 | 6,305 |
Bank charges and fees | 22,141 | 21,493 |
Insurance and surety bond premiums | 20,621 | 21,107 |
Dues and subscriptions | 7,238 | 11,529 |
Professional fees | 80,783 | 54,851 |
Real Estate Owned expense | 27,980 | 32,585 |
Other | 36,517 | 34,162 |
Total non-interest expense | 937,950 | 901,121 |
INCOME BEFORE INCOME TAX EXPENSE | 129,168 | 122,912 |
Income tax expense | 73,248 | 63,095 |
NET INCOME | $ 55,920 | $ 59,817 |
INCOME PER COMMON SHARE (in dollars per share) | $ 0.06 | $ 0.07 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Net Income | $ 55,920 | $ 59,817 |
Unrealized holding gain (loss), net of deferred tax (benefit) of 3,411 and $16,918 in 2017 and 2016 | 1,473 | 8,388 |
Total other comprehensive income | $ 57,393 | $ 68,205 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parentheticals) - USD ($) | 3 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Unrealized holding gains, deferred tax | $ 3,411 | $ 16,918 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - 3 months ended Jun. 30, 2017 - 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, 2017 | 945,425 | |||||
Balance at Mar. 31, 2017 | $ 9,454 | $ 10,029,506 | $ 4,036,465 | $ (455,514) | $ (128,067) | $ 13,491,844 |
Net Income | 55,920 | 55,920 | ||||
Balance at Jun. 30, 2017 | 9,454 | 10,040,983 | 4,092,385 | (455,514) | (126,594) | 13,560,714 |
Other comprehensive income, net of tax: | 1,473 | 1,473 | ||||
Employee stock option expense | $ 11,477 | $ 11,477 | ||||
Balance (in shares) at Jun. 30, 2017 | 945,425 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Cash flow from operating activities | ||
Net Income | $ 55,920 | $ 59,817 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Deferred income taxes | 74,498 | 61,894 |
Depreciation | 58,629 | 66,152 |
Discount accretion net of premium amortization | 121 | (26,763) |
Recapture of loan loss | (20,000) | (48,000) |
Loss on sale of real estate owned | 5,532 | |
Gain on sale of an asset | (71,516) | |
Compensation expense for stock options | 11,477 | 8,805 |
(Increase) decrease in: | ||
Accrued interest receivable | 21,738 | 42,986 |
Other assets | 106,227 | 98,178 |
Increase (decrease) in: | ||
Accrued interest payable | (511) | (530) |
Other liabilities | 58,511 | 139,163 |
Net cash provided by operating activities | 295,094 | 407,234 |
Cash flows from investing activities | ||
Proceeds of securities available for sale | 505,873 | 5,822 |
Purchases of securities available for sale | (500,000) | (500,000) |
Purchases of securities held-to-maturity | (7,500,000) | |
Proceeds from maturities and principal repayments of securities held-to-maturity | 46,789 | 13,875,845 |
Redemption of investment required by law – stock in Federal Home Loan Bank | 1,900 | 84,500 |
Proceeds from sale of real estate owned | 284,233 | |
Net (increase) in loans | 732,718 | (1,362,764) |
Purchases of premises and equipment | (6,399) | (5,545) |
Net cash provided by(used in) investing activities | 780,881 | 4,882,091 |
Cash flows from financing activities | ||
(Decrease) in deposits | (884,276) | (399,996) |
Increase in advance payments by borrowers for taxes and insurance | 26,285 | 20,203 |
(Decrease) in Federal Home Loan Bank Advances | (2,000,000) | |
Net cash used in financing activities | (857,991) | (2,379,793) |
Net (decrease) increase in cash and cash equivalents | 217,984 | 2,909,532 |
Cash and cash equivalents, beginning of the period | 6,998,543 | 12,127,388 |
Cash and cash equivalents, end of period | 7,216,527 | 15,036,920 |
Supplemental Disclosures: | ||
Cash paid during the period for interest | 135,217 | 142,978 |
Cash paid during the period for income taxes | 2,500 | 2,500 |
Loans transferred to foreclosed real estate during the period | 110,624 | |
Net change in unrealized gain (loss) on securities available-for-sale net of tax | $ 1,473 | $ 8,388 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 3 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | ( 1 Basis of Presentation On October 16, 2013, 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 not three June 30, 2017 not may 10 March 31, 2017. |
Note 2 - Use of Estimates
Note 2 - Use of Estimates | 3 Months Ended |
Jun. 30, 2017 | |
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 | 3 Months Ended |
Jun. 30, 2017 | |
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 2016 2014 2016 . |
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% 113 |
Note 4 - Income Taxes
Note 4 - Income Taxes | 3 Months Ended |
Jun. 30, 2017 | |
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 2016 2014 2016 . |
Note 5 - Earnings Per Share
Note 5 - Earnings Per Share | 3 Months Ended |
Jun. 30, 2017 | |
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 June 30, 2017 2016 Numerator $ 55,920 $ 59,817 Denominators: Basic shares outstanding 910,239 906,720 Effect of dilutive securities 7,449 3,290 Dilutive shares outstanding 917,688 910,010 Earnings per share: Basic $ 0.06 $ 0.07 Dilutive $ 0.06 $ 0.07 |
Note 6 - Regulatory Matters
Note 6 - Regulatory Matters | 3 Months Ended |
Jun. 30, 2017 | |
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 ● not ● 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 1 8%, 1 12% 13%. 1 1 June 30, 2017 9.26%, 16.52% 17.78%, |
Note 7 - Recent Accounting Pron
Note 7 - Recent Accounting Pronouncements | 3 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ( 7 Recent Accounting Pronouncements In March 2017, 2017 08: 310 20 December 15, 2018. not not Also in March 2017, 2017 07: 715 715, may December 15, 2017, not 2017. not In January 2017, 2017 03: 250 323 September 22, 2016 November 17, 2016 not Also in January 2017, 2017 01: 805 December 15, 2017, not In December 2016, 2016 20; 606, No. 2014 09 not not Also in December 2016, 2016 19: not not In November 2016, 2016 18: 230 230. 230. not In August 2016, 2016 15: 230 230, eight zero not 230. December 15, 2017, not In June 2016, 2016 13: 326 326 326 326 not not December 15, 2019. In May 2016, 2016 12: 606 No, 2014 09, 606 not not In April 2016, 2016 10: 606 two 606: not 606. as 606. not In March 2016, 2016 09: 718 718 No, 123 2004 December 15, 2016, not Also in March 2016, 2016 08: 606 606 606. not Also in March 2016, 2016 07: 323 323 December 15, 2016. not Also in March 2016, 2016 05: 815 one 815, not, December 15, 2016, not Also in March 2016, 2016 04: 405 20 third 405 20 606. 405 20 606, December 15, 2017, not |
Note 8 - Fair Value of Financia
Note 8 - Fair Value of Financial Instruments | 3 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | ( 8 Fair Value of Financial Instruments ASC Topic 820 10 820 not 820 10 not ASC Topic 820 three ● Level 1 Level 1 ● Level 2 Level 2 1 2 not ● 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) June 30, 2017 Available-for-sale securities $ − $ 2,591 $ − March 31, 2017 Available-for-sale securities $ − $ 2,595 $ − Assets and Liabilities on a Non-Recurring Basis Assets and liabilities measured at fair value on a non-recurring basis at June 30, 2017 March 31, 2017 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) June 30, 2017 Impaired loans $ − $ − $ 4,533 Real estate owned − − 1,219 Total $ − $ − $ 5,752 March 31, 2017 Impaired loans $ − $ − $ 4,883 Real estate owned − − 1,271 Total $ − $ − $ 6,154 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, June 30, 2017 March 31, 2017 June 30, 2017 Carrying Amount Level 1 Level 2 Level 3 (Dollars in Thousands) Financial Assets: Cash and cash equivalents $ 7,217 $ 7,217 $ − $ − Investment securities-available for sale 2,583 − 2,951 − Investment securities-held to maturity 22,576 − 21,954 − Loans receivable – net 83,825 − − 84,235 FHLB stock 122 122 − − Accrued interest receivable 357 357 − − Bank–owned life insurance 179 179 − − Real estate owned 1,219 − − 1,219 Total financial assets $ 118,078 $ 7,875 $ 24,905 $ 85,454 Financial Liabilities: Deposits- non-interest bearing $ 10,662 $ 10,662 $ − $ − Deposits – interest bearing 100,535 − 100,225 − Advances from Federal Home Loan Bank − − − − Advance payments by borrowers for taxes and insurance 527 527 − − Accrued interest payable 6 6 − − Total financial liabilities $ 111,730 $ 11,195 $ 100,225 $ − March 31, 2017 Carrying Amount Level 1 Level 2 Level 3 (Dollars in Thousands) Financial Assets: Cash and cash equivalents $ 6,999 $ 6,999 $ − $ − Investment securities-available for sale 2,589 − 2,595 − Investment securities-held to maturity 22,623 − 21,798 − Loans receivable,– net 84,414 − − 83,833 FHLB stock 124 124 − − Accrued interest receivable 378 378 − − Bank-owned life insurance 179 179 − − Real estate owned 1,271 − − 1,271 Total financial assets $ 118,577 $ 7,680 $ 24,393 $ 85,104 Financial Liabilities: Deposits-non-interest bearing $ 11,704 $ 11,704 $ − $ − Deposits-interest bearing 100,377 − 99,183 − Advances from Federal Home Loan Bank − − − − Advance payments by borrowers for taxes and insurance 500 500 − − Accrued interest payable 6 6 − − Total financial liabilities $ 112,587 $ 12,210 $ 99,183 $ − 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. June 30, 2017 March 31, 2017 Contract Value Estimated Fair Value Contract Value Estimated Fair Value Off-balance sheet instruments Commitments to extend credit $ 6,682 $ − $ 6,620 $ − |
Note 9 - Loans
Note 9 - Loans | 3 Months Ended |
Jun. 30, 2017 | |
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 June 30, 2017 March 31, 2017 June 30, March 31, 2017 2017 Residential (one-to four-family) real estate $ 60,471 $ 61,419 Multi-family and commercial real estate 11,677 12,071 Commercial 2,194 1,858 Home equity 9,021 8,812 Consumer 615 637 Construction 912 680 Total loans 84,890 85,477 Net deferred loan origination fees (60 ) (62 ) Allowance for loan losses (1,005 ) (1,001 ) Loans, net $ 83,825 $ 84,414 The Bank is subject to a loans-to- one 15% June 30, 2017, one $1.9 10% $1.3 may June 30, 2017, no 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 not 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 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 June 30, 2017, six $864 The following table represents loans by credit quality indicator at June 30, 2017 ( Pass Special Mention Loans Classified Loans Non- Performing Loans Total Residential real estate $ 57,866 $ − $ − $ 2,605 $ 60,471 Multi-family and commercial real estate 10,594 − 169 914 11,677 Commercial 1,989 − 34 171 2,194 Home equity 8,740 − − 281 9,021 Consumer 615 − − − 615 Construction 860 − − 52 912 $ 80,664 $ − $ 203 $ 4,023 $ 84,890 The following table represents past-due loans as of June 30, 2017 ( 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 $ 487 $ 294 $ 1,543 $ 2,324 $ 58,147 $ 60,471 Multi-family and commercial real estate 239 355 626 1,220 10,457 11,677 Commercial − − 171 171 2,023 2,194 Home Equity 40 − 186 226 8,795 9,021 Consumer 40 − − 40 575 615 Construction − − − − 912 912 Total Loans $ 806 $ 649 $ 2,526 $ 3,981 $ 80,909 $ 84,890 Percentage of Total Loans 0.9 % 0.8 % 3.0 % 4.7 % 95.3 % 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 June 30, 2017, 16 $2.7 17 $3.2 March 31, 2017. $4.6 three June 30, 2017 $5.1 March 31, 2017, three June 30, 2017 $41 $173 March 31, 2017 . The following table represents data on impaired loans at June 30, 2017 March 31, 2017 ( June 30, 2017 March 31, 2017 Impaired loans for which a valuation allowance has been provided $ − $ − Impaired loans for which no valuation allowance has been provided 4,620 4,883 Total loans determined to be impaired 4,620 4,883 Allowance for loans losses related to impaired loans − − Average recorded investment in impaired loans 4,691 5,225 Cash basis interest income recognized on impaired Loans $ 41 $ 173 The following table presents impaired loans by portfolio class at June 30, 2017 ( 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 $ 2,293 $ 2,232 $ − $ 2,295 $ 16 Multi-family and commercial real estate 1,890 1,884 − 1,892 20 Commercial 171 171 − 171 3 Home equity 281 281 − 281 1 Consumer − − − − − Construction 56 52 − 56 1 Total $ 4,691 $ 4,620 $ − $ 4,695 $ 41 The following table presents impaired loans by portfolio class with no March 31, 2017 ( 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 $ 2,289 $ 2,239 $ − $ 2,711 $ 60 Multi-family and commercial real estate 2,162 2,141 − 2,060 94 Commercial 171 171 − 153 9 Home equity 283 279 − 242 7 Consumer − − − 1 − Construction 57 53 − 58 3 Subtotal $ 4,963 $ 4,883 $ − $ 5,225 $ 173 The following table represents nonaccrual loans as of June 30, 2017 March 31, 2017 ( June 30, 2017 March 31, 2017 Non-accrual loans: Residential real estate $ 1,179 $ 1,180 Multi-family and commercial real estate 252 506 Commercial 171 172 Consumer − − Home equity 55 53 Construction − − Total non-accrual loans 1,657 1,911 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 $ 738 $ 740 Multi-family and commercial real estate 186 425 Commercial − − Consumer − − Home Equity 131 131 Construction − − Total troubled debt restructurings in non-accrual status 1,055 1,296 Performing under modified terms: Residential real estate 688 693 Multi-family and commercial real estate 476 240 Commercial − − Consumer − − Home Equity 95 95 Construction 52 52 Total troubled debt restructurings performing under modified terms: 1,311 1,080 Total troubled debt restructurings 2,366 2,376 Total non-performing loans 4,023 4,287 Real estate owned 1,219 1,271 Total non-performing assets 5,242 5,558 Non-performing loans as a percentage of loans 4.74 % 5.02 % Non-performing assets as a percentage of loans and real estate owned 6.09 % 6.41 % Non-performing assets as percentage of total assets 4.15 % 4.38 % During the three June 30, 2017, $495 $253 one $239 $4 $2 The following table presents troubled debt restructurings that occurred during the periods ended June 30, 2017 March 31, 2017 three 12 June 30, 2017 March 31, 2017 Outstanding Recorded Outstanding Recorded Number of Pre-Modification Post- Number of Pre-Modification Post- Troubled debt restructurings: Residential real estate − $ − $ − 1 $ 77 $ 96 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 June 30, 2017 March 31, 2017: June 30, March 31, 2017 2017 Balance, beginning of period $ 1,271 $ 1,763 Additions from loan foreclosures − 500 Additions from capitalized costs − 26 Dispositions of REO − (922 ) Gain (loss) on sale of REO − (34 ) Valuation adjustments in the period (52 ) (62 ) Balance, end of period $ 1,219 $ 1,271 The following table presents the changes in fair value adjustments to REO for the periods ended June 30, 2017 March 31, 2017: June 30, March 31, 2017 2017 Balance, beginning of period $ 104 $ 227 Valuation adjustments added in the period 52 62 Valuation adjustments on disposed properties during the period − (185 ) Balance, end of period $ 156 $ 104 The following table sets forth with respect to the Bank’s allowance for losses on loans (dollars in thousands): June 30, 2017 March 31, 2017 Balance at beginning of period $ 1,001 $ 1,099 Provision: Commercial − (45 ) Commercial real estate (20 ) (61 ) Residential real estate − 98 Home Equity − 29 Consumer − (45 ) Construction − 2 Total Provision (20 ) (22 ) Charge-Offs: Commercial − − Commercial Real Estate − 71 Residential real estate − 102 Home Equity − 42 Consumer − Recoveries (24 ) (139 ) Total Net Charge-Offs (24 ) 76 Balance at end of period $ 1,005 $ 1,001 Period-end loans outstanding $ 84,890 $ 85,477 Average loans outstanding $ 85,435 $ 84,426 Allowance as a percentage of period-end loans 1.18 % 1.17 % Net charge-offs as a percentage of average loans (0.03 %) 0.09 % Additional details for changes in the allowance for loan by loan portfolio as of June 30, 2017 Allowance for Loan Losses Commercial Commercial Real Estate Residential Real Estate Home Equity Consumer Construction Total Balance, beginning of year $ 64 $ 274 $ 575 $ 74 $ 12 $ 2 $ 1,001 Loan charge-offs − − − − − − − Recoveries 1 17 4 − 2 − 24 Provision for loan losses − (20 ) − − − − (20 ) Balance, end of period $ 65 $ 271 $ 579 $ 74 $ 14 $ 2 $ 1,005 Ending balance for loans individually evaluated for impairment − − − − − − − Ending balance for loans collectively evaluated for impairment $ 65 $ 271 $ 579 $ 74 $ 14 $ 2 $ 1,005 Loans receivable: Ending balance $ 2,194 $ 11,677 $ 60,471 $ 9,021 $ 615 $ 912 $ 84,890 Ending balance: loans individually evaluated for impairment $ 187 $ 1,407 $ 2,373 $ 514 $ − $ 52 $ 4,533 Ending balance: loans collectively evaluated for impairment $ 2,007 $ 10,270 $ 58,098 $ 8,507 $ 615 $ 860 $ 80,357 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 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 three June 30, 2017, no one one $40 three $175 March 31, 2017. At June 30, 2017, 1.18% $316 March 31, 2017, 4.15% June 30, 2017 4.38% March 31, 2017 . 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 | 3 Months Ended |
Jun. 30, 2017 | |
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 June 30, 2017 March 31, 2017 Held-to-Maturity June 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in Thousands) U.S. Government Agency Bonds $ 20,418 $ − $ (659 ) $ 19,759 Municipal Bond 1,536 − (1 ) 1,535 Mortgage-Backed Securities 622 38 − 660 Total $ 22,576 $ 38 $ (660 ) $ 21,954 Held-to-Maturity March 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in Thousands) U.S. Government Agency Bonds $ 20,418 $ − $ (865 ) $ 19,553 Municipal Bond 1,536 − (3 ) 1,533 Mortgage-backed securities: 669 58 (15 ) 712 Total $ 22,623 $ 58 $ (883 ) $ 21,798 Available for Sale June 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificate of deposit 2,500 9 − 2,509 Mutual Fund Shares 83 − (1 ) 82 $ 2,583 $ 9 $ (1 ) $ 2,591 Available-for-Sale March 31, 2017 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S .Government Agency Bonds $ 500 $ − $ − $ 500 Certificates of Deposit 2,000 8 − 2,008 Mutual Fund Shares 89 − (2 ) 87 Total $ 2,589 $ 8 $ (2 ) $ 2,595 The following is a summary of maturities of securities held-to-maturity and available-for-sale as of June 30, 2017 March 31, 2017: June 30, 2017 Held to Maturity Available for Sale (Dollars in Thousands) Amortized Cost Fair Value Amortized Cost Fair Value Amounts maturing in: One year or less $ 1,539 $ 1,535 $ 500 500 After one year through five years 500 497 2,000 2,009 After five years through ten years 8,555 8,330 − − After ten years 11,982 11,592 − − Equity securities − − 83 82 $ 22,576 $ 21,954 $ 2,583 $ 2,591 March 31, 2017 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 $ 1,534 − − After one year through five years 500 497 − − After five years through ten years 8,573 8,292 2,000 2,008 After ten years 12,014 11,475 500 500 Mutual fund shares − − 89 87 $ 22,623 $ 21,798 $ 2,589 $ 2,595 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 June 30, 2017 March 31, 2017, 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 June 30, 2017 Value Losses Value Losses Value Losses U.S Government Agency Bonds 19,759 (659 ) − − 19,759 (659 ) Municipal Bonds 1,535 (1 ) − − 1,535 (1 ) Total $ 21,294 $ (660 ) − − 21,294 (660 ) 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, 2017 Value Losses Value Losses Value Losses U.S Government Agency Bonds $ 19,553 $ (864 ) $ − $ − $ 19,553 $ (864 ) Certificates of deposit 249 (1 ) − − 249 (1 ) Municipal Bonds 1,536 (3 ) − − 1,536 (3 ) Mutual fund shares − − 87 (2 ) 87 (2 ) Mortgage –Backed Securities: − − 216 (15 ) 216 (15 ) Total 21,338 (868 ) 303 (17 ) 21,641 (885 ) 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 June 30, 2017, 39 3.0% no |
Note 5 - Earnings Per Share (Ta
Note 5 - Earnings Per Share (Tables) | 3 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, 2017 2016 Numerator $ 55,920 $ 59,817 Denominators: Basic shares outstanding 910,239 906,720 Effect of dilutive securities 7,449 3,290 Dilutive shares outstanding 917,688 910,010 Earnings per share: Basic $ 0.06 $ 0.07 Dilutive $ 0.06 $ 0.07 |
Note 8 - Fair Value of Financ20
Note 8 - Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Jun. 30, 2017 | |
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) June 30, 2017 Available-for-sale securities $ − $ 2,591 $ − March 31, 2017 Available-for-sale securities $ − $ 2,595 $ − |
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) June 30, 2017 Impaired loans $ − $ − $ 4,533 Real estate owned − − 1,219 Total $ − $ − $ 5,752 March 31, 2017 Impaired loans $ − $ − $ 4,883 Real estate owned − − 1,271 Total $ − $ − $ 6,154 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2017 Carrying Amount Level 1 Level 2 Level 3 (Dollars in Thousands) Financial Assets: Cash and cash equivalents $ 7,217 $ 7,217 $ − $ − Investment securities-available for sale 2,583 − 2,951 − Investment securities-held to maturity 22,576 − 21,954 − Loans receivable – net 83,825 − − 84,235 FHLB stock 122 122 − − Accrued interest receivable 357 357 − − Bank–owned life insurance 179 179 − − Real estate owned 1,219 − − 1,219 Total financial assets $ 118,078 $ 7,875 $ 24,905 $ 85,454 Financial Liabilities: Deposits- non-interest bearing $ 10,662 $ 10,662 $ − $ − Deposits – interest bearing 100,535 − 100,225 − Advances from Federal Home Loan Bank − − − − Advance payments by borrowers for taxes and insurance 527 527 − − Accrued interest payable 6 6 − − Total financial liabilities $ 111,730 $ 11,195 $ 100,225 $ − March 31, 2017 Carrying Amount Level 1 Level 2 Level 3 (Dollars in Thousands) Financial Assets: Cash and cash equivalents $ 6,999 $ 6,999 $ − $ − Investment securities-available for sale 2,589 − 2,595 − Investment securities-held to maturity 22,623 − 21,798 − Loans receivable,– net 84,414 − − 83,833 FHLB stock 124 124 − − Accrued interest receivable 378 378 − − Bank-owned life insurance 179 179 − − Real estate owned 1,271 − − 1,271 Total financial assets $ 118,577 $ 7,680 $ 24,393 $ 85,104 Financial Liabilities: Deposits-non-interest bearing $ 11,704 $ 11,704 $ − $ − Deposits-interest bearing 100,377 − 99,183 − Advances from Federal Home Loan Bank − − − − Advance payments by borrowers for taxes and insurance 500 500 − − Accrued interest payable 6 6 − − Total financial liabilities $ 112,587 $ 12,210 $ 99,183 $ − |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | June 30, 2017 March 31, 2017 Contract Value Estimated Fair Value Contract Value Estimated Fair Value Off-balance sheet instruments Commitments to extend credit $ 6,682 $ − $ 6,620 $ − |
Note 9 - Loans (Tables)
Note 9 - Loans (Tables) | 3 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, March 31, 2017 2017 Residential (one-to four-family) real estate $ 60,471 $ 61,419 Multi-family and commercial real estate 11,677 12,071 Commercial 2,194 1,858 Home equity 9,021 8,812 Consumer 615 637 Construction 912 680 Total loans 84,890 85,477 Net deferred loan origination fees (60 ) (62 ) Allowance for loan losses (1,005 ) (1,001 ) Loans, net $ 83,825 $ 84,414 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Pass Special Mention Loans Classified Loans Non- Performing Loans Total Residential real estate $ 57,866 $ − $ − $ 2,605 $ 60,471 Multi-family and commercial real estate 10,594 − 169 914 11,677 Commercial 1,989 − 34 171 2,194 Home equity 8,740 − − 281 9,021 Consumer 615 − − − 615 Construction 860 − − 52 912 $ 80,664 $ − $ 203 $ 4,023 $ 84,890 |
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 $ 487 $ 294 $ 1,543 $ 2,324 $ 58,147 $ 60,471 Multi-family and commercial real estate 239 355 626 1,220 10,457 11,677 Commercial − − 171 171 2,023 2,194 Home Equity 40 − 186 226 8,795 9,021 Consumer 40 − − 40 575 615 Construction − − − − 912 912 Total Loans $ 806 $ 649 $ 2,526 $ 3,981 $ 80,909 $ 84,890 Percentage of Total Loans 0.9 % 0.8 % 3.0 % 4.7 % 95.3 % 100.0 % |
Impaired Financing Receivables [Table Text Block] | June 30, 2017 March 31, 2017 Impaired loans for which a valuation allowance has been provided $ − $ − Impaired loans for which no valuation allowance has been provided 4,620 4,883 Total loans determined to be impaired 4,620 4,883 Allowance for loans losses related to impaired loans − − Average recorded investment in impaired loans 4,691 5,225 Cash basis interest income recognized on impaired Loans $ 41 $ 173 |
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 Statues Impaired loans with no valuation allowance: Residential real estate $ 2,293 $ 2,232 $ − $ 2,295 $ 16 Multi-family and commercial real estate 1,890 1,884 − 1,892 20 Commercial 171 171 − 171 3 Home equity 281 281 − 281 1 Consumer − − − − − Construction 56 52 − 56 1 Total $ 4,691 $ 4,620 $ − $ 4,695 $ 41 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 $ 2,289 $ 2,239 $ − $ 2,711 $ 60 Multi-family and commercial real estate 2,162 2,141 − 2,060 94 Commercial 171 171 − 153 9 Home equity 283 279 − 242 7 Consumer − − − 1 − Construction 57 53 − 58 3 Subtotal $ 4,963 $ 4,883 $ − $ 5,225 $ 173 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | June 30, 2017 March 31, 2017 Non-accrual loans: Residential real estate $ 1,179 $ 1,180 Multi-family and commercial real estate 252 506 Commercial 171 172 Consumer − − Home equity 55 53 Construction − − Total non-accrual loans 1,657 1,911 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 $ 738 $ 740 Multi-family and commercial real estate 186 425 Commercial − − Consumer − − Home Equity 131 131 Construction − − Total troubled debt restructurings in non-accrual status 1,055 1,296 Performing under modified terms: Residential real estate 688 693 Multi-family and commercial real estate 476 240 Commercial − − Consumer − − Home Equity 95 95 Construction 52 52 Total troubled debt restructurings performing under modified terms: 1,311 1,080 Total troubled debt restructurings 2,366 2,376 Total non-performing loans 4,023 4,287 Real estate owned 1,219 1,271 Total non-performing assets 5,242 5,558 Non-performing loans as a percentage of loans 4.74 % 5.02 % Non-performing assets as a percentage of loans and real estate owned 6.09 % 6.41 % Non-performing assets as percentage of total assets 4.15 % 4.38 % |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | June 30, 2017 March 31, 2017 Outstanding Recorded Outstanding Recorded Number of Pre-Modification Post- Number of Pre-Modification Post- Troubled debt restructurings: Residential real estate − $ − $ − 1 $ 77 $ 96 |
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] | June 30, March 31, 2017 2017 Balance, beginning of period $ 1,271 $ 1,763 Additions from loan foreclosures − 500 Additions from capitalized costs − 26 Dispositions of REO − (922 ) Gain (loss) on sale of REO − (34 ) Valuation adjustments in the period (52 ) (62 ) Balance, end of period $ 1,219 $ 1,271 June 30, March 31, 2017 2017 Balance, beginning of period $ 104 $ 227 Valuation adjustments added in the period 52 62 Valuation adjustments on disposed properties during the period − (185 ) Balance, end of period $ 156 $ 104 |
Schedule of Charge-offs [Table Text Block] | June 30, 2017 March 31, 2017 Balance at beginning of period $ 1,001 $ 1,099 Provision: Commercial − (45 ) Commercial real estate (20 ) (61 ) Residential real estate − 98 Home Equity − 29 Consumer − (45 ) Construction − 2 Total Provision (20 ) (22 ) Charge-Offs: Commercial − − Commercial Real Estate − 71 Residential real estate − 102 Home Equity − 42 Consumer − Recoveries (24 ) (139 ) Total Net Charge-Offs (24 ) 76 Balance at end of period $ 1,005 $ 1,001 Period-end loans outstanding $ 84,890 $ 85,477 Average loans outstanding $ 85,435 $ 84,426 Allowance as a percentage of period-end loans 1.18 % 1.17 % Net charge-offs as a percentage of average loans (0.03 %) 0.09 % |
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 $ 64 $ 274 $ 575 $ 74 $ 12 $ 2 $ 1,001 Loan charge-offs − − − − − − − Recoveries 1 17 4 − 2 − 24 Provision for loan losses − (20 ) − − − − (20 ) Balance, end of period $ 65 $ 271 $ 579 $ 74 $ 14 $ 2 $ 1,005 Ending balance for loans individually evaluated for impairment − − − − − − − Ending balance for loans collectively evaluated for impairment $ 65 $ 271 $ 579 $ 74 $ 14 $ 2 $ 1,005 Loans receivable: Ending balance $ 2,194 $ 11,677 $ 60,471 $ 9,021 $ 615 $ 912 $ 84,890 Ending balance: loans individually evaluated for impairment $ 187 $ 1,407 $ 2,373 $ 514 $ − $ 52 $ 4,533 Ending balance: loans collectively evaluated for impairment $ 2,007 $ 10,270 $ 58,098 $ 8,507 $ 615 $ 860 $ 80,357 |
Note 10 - Investment Securiti22
Note 10 - Investment Securities (Tables) | 3 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Held-to-maturity Securities [Table Text Block] | Held-to-Maturity June 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in Thousands) U.S. Government Agency Bonds $ 20,418 $ − $ (659 ) $ 19,759 Municipal Bond 1,536 − (1 ) 1,535 Mortgage-Backed Securities 622 38 − 660 Total $ 22,576 $ 38 $ (660 ) $ 21,954 Held-to-Maturity March 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in Thousands) U.S. Government Agency Bonds $ 20,418 $ − $ (865 ) $ 19,553 Municipal Bond 1,536 − (3 ) 1,533 Mortgage-backed securities: 669 58 (15 ) 712 Total $ 22,623 $ 58 $ (883 ) $ 21,798 |
Available-for-sale Securities [Table Text Block] | Available for Sale June 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Certificate of deposit 2,500 9 − 2,509 Mutual Fund Shares 83 − (1 ) 82 $ 2,583 $ 9 $ (1 ) $ 2,591 Available-for-Sale March 31, 2017 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S .Government Agency Bonds $ 500 $ − $ − $ 500 Certificates of Deposit 2,000 8 − 2,008 Mutual Fund Shares 89 − (2 ) 87 Total $ 2,589 $ 8 $ (2 ) $ 2,595 |
Investments Classified by Contractual Maturity Date [Table Text Block] | June 30, 2017 Held to Maturity Available for Sale (Dollars in Thousands) Amortized Cost Fair Value Amortized Cost Fair Value Amounts maturing in: One year or less $ 1,539 $ 1,535 $ 500 500 After one year through five years 500 497 2,000 2,009 After five years through ten years 8,555 8,330 − − After ten years 11,982 11,592 − − Equity securities − − 83 82 $ 22,576 $ 21,954 $ 2,583 $ 2,591 March 31, 2017 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 $ 1,534 − − After one year through five years 500 497 − − After five years through ten years 8,573 8,292 2,000 2,008 After ten years 12,014 11,475 500 500 Mutual fund shares − − 89 87 $ 22,623 $ 21,798 $ 2,589 $ 2,595 |
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 June 30, 2017 Value Losses Value Losses Value Losses U.S Government Agency Bonds 19,759 (659 ) − − 19,759 (659 ) Municipal Bonds 1,535 (1 ) − − 1,535 (1 ) Total $ 21,294 $ (660 ) − − 21,294 (660 ) 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, 2017 Value Losses Value Losses Value Losses U.S Government Agency Bonds $ 19,553 $ (864 ) $ − $ − $ 19,553 $ (864 ) Certificates of deposit 249 (1 ) − − 249 (1 ) Municipal Bonds 1,536 (3 ) − − 1,536 (3 ) Mutual fund shares − − 87 (2 ) 87 (2 ) Mortgage –Backed Securities: − − 216 (15 ) 216 (15 ) Total 21,338 (868 ) 303 (17 ) 21,641 (885 ) |
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) | Jun. 30, 2017 |
GAAP Capital Ratio, Basis Points in Excess of Tier 1 Regulatory Capital Ratio | 1.13% |
Note 4 - Income Taxes (Details
Note 4 - Income Taxes (Details Textual) $ in Thousands | 3 Months Ended |
Jun. 30, 2017USD ($) | |
Liability for Uncertainty in Income Taxes, Current | $ 0 |
Earliest Tax Year [Member] | Federal and State Jurisdiction [Member] | |
Open Tax Year | 2,014 |
Latest Tax Year [Member] | Federal and State Jurisdiction [Member] | |
Open Tax Year | 2,016 |
Note 5 - Earnings Per Share - E
Note 5 - Earnings Per Share - Earnings Per Share Reconciliation (Details) - USD ($) | 3 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Numerator | $ 55,920 | $ 59,817 |
Denominators: | ||
Basic shares outstanding (in shares) | 910,239 | 906,720 |
Effect of dilutive securities (in shares) | 7,449 | 3,290 |
Dilutive shares outstanding (in shares) | 917,688 | 910,010 |
Earnings per share: | ||
Basic (in dollars per share) | $ 0.06 | $ 0.07 |
Dilutive (in dollars per share) | $ 0.06 | $ 0.07 |
Note 6 - Regulatory Matters (De
Note 6 - Regulatory Matters (Details Textual) | Jun. 30, 2017 |
Tier One Leverage Capital to Average Assets | 9.26% |
Tier One Risk Based Capital to Risk Weighted Assets | 16.52% |
Capital to Risk Weighted Assets | 17.78% |
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 ($) | Jun. 30, 2017 | Mar. 31, 2017 |
Securities available-for-sale (amortized cost of $2,582,944 and $2,588,817 at June 30, 2017 and March 31, 2017, respectively) | $ 2,591,470 | $ 2,594,888 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale (amortized cost of $2,582,944 and $2,588,817 at June 30, 2017 and March 31, 2017, respectively) | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale (amortized cost of $2,582,944 and $2,588,817 at June 30, 2017 and March 31, 2017, respectively) | 2,591,000 | 2,595,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale (amortized cost of $2,582,944 and $2,588,817 at June 30, 2017 and March 31, 2017, respectively) |
Note 8 - Fair Value of Financ29
Note 8 - Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value On a Non-recurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 |
Fair Value, Inputs, Level 1 [Member] | ||
Total | ||
Fair Value, Inputs, Level 2 [Member] | ||
Total | ||
Fair Value, Inputs, Level 3 [Member] | ||
Total | 5,752 | 6,154 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | ||
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 4,533 | 4,883 |
Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Real estate owned | ||
Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Real estate owned | ||
Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Real estate owned | $ 1,219 | $ 1,271 |
Note 8 - Fair Value of Financ30
Note 8 - Fair Value of Financial Instruments - Estimated Fair Value of Assets and Liabilities (Details) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 |
Accrued interest receivable | $ 356,505 | $ 378,243 |
Bank-owned life insurance | 178,514 | 178,514 |
Advance payments by borrowers for taxes and insurance | 526,770 | 500,485 |
Available-for-sale securities - fair value | 2,591,470 | 2,594,888 |
Investment securities-held to maturity | 21,954,235 | 21,797,695 |
Reported Value Measurement [Member] | ||
Impaired loans | 83,825,000 | 84,414,000 |
FHLB stock | 122,000 | 124,000 |
Accrued interest receivable | 357,000 | 378,000 |
Bank-owned life insurance | 179,000 | 179,000 |
Real estate owned | 1,219,000 | 1,271,000 |
Total financial assets | 118,078,000 | 118,577,000 |
Deposits- non-interest bearing | 10,662,000 | 11,704,000 |
Deposits – interest bearing | 100,535,000 | 100,377,000 |
Advances from Federal Home Loan Bank | ||
Advance payments by borrowers for taxes and insurance | 527,000 | 500,000 |
Accrued interest payable | 6,000 | 6,000 |
Total financial liabilities | 111,730,000 | 112,587,000 |
Cash and cash equivalents | 7,217,000 | 6,999,000 |
Available-for-sale securities - fair value | 2,583,000 | 2,589,000 |
Investment securities-held to maturity | 22,576,000 | 22,623,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | ||
FHLB stock | 122,000 | 124,000 |
Accrued interest receivable | 357,000 | 378,000 |
Bank-owned life insurance | 179,000 | 179,000 |
Real estate owned | ||
Total financial assets | 7,875,000 | 7,680,000 |
Deposits- non-interest bearing | 10,662,000 | 11,704,000 |
Deposits – interest bearing | ||
Advances from Federal Home Loan Bank | ||
Advance payments by borrowers for taxes and insurance | 527,000 | 500,000 |
Accrued interest payable | 6,000 | 6,000 |
Total financial liabilities | 11,195,000 | 12,210,000 |
Cash and cash equivalents | 7,217,000 | 6,999,000 |
Available-for-sale securities - fair value | ||
Investment securities-held to maturity | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
FHLB stock | ||
Accrued interest receivable | ||
Bank-owned life insurance | ||
Real estate owned | ||
Total financial assets | 24,905,000 | 24,393,000 |
Deposits- non-interest bearing | ||
Deposits – interest bearing | 100,225,000 | 99,183,000 |
Advances from Federal Home Loan Bank | ||
Advance payments by borrowers for taxes and insurance | ||
Accrued interest payable | ||
Total financial liabilities | 100,225,000 | 99,183,000 |
Cash and cash equivalents | ||
Available-for-sale securities - fair value | 2,951,000 | 2,595,000 |
Investment securities-held to maturity | 21,954,000 | 21,798,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 84,235,000 | 83,833,000 |
FHLB stock | ||
Real estate owned | 1,219,000 | 1,271,000 |
Total financial assets | 85,454,000 | 85,104,000 |
Deposits- non-interest bearing | ||
Deposits – interest bearing | ||
Advances from Federal Home Loan Bank | ||
Advance payments by borrowers for taxes and insurance | ||
Total financial liabilities | ||
Cash and cash equivalents | ||
Available-for-sale securities - fair value | ||
Investment securities-held to maturity |
Note 8 - Fair Value of Financ31
Note 8 - Fair Value of Financial Instruments - Off-balance Sheet Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 |
Commitments to Extend Credit [Member] | ||
Commitments to extend credit | $ 6,682 | $ 6,620 |
Note 9 - Loans (Details Textual
Note 9 - Loans (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | |
Maximum Loan to One Borrower Limitation, Percentage of Capital Funds | 15.00% | ||
Maximum Loan to One Borrower Limitation | $ 1,900 | ||
Additional Loan to One Borrower Limitation if Collateralized, Percentage of Adjusted Capital Funds | 10.00% | ||
Adjusted Capital Funds Value | $ 1,300 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,657 | $ 1,911 | |
Impaired Financing Receivable, Average Recorded Investment | 4,691 | 5,225 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 41 | $ 173 | |
Financing Receivable Non-accrual, Principal Reduction | 4 | ||
Financing Receivable Non-accural, Advance | 2 | ||
Allowance for Loan and Lease Losses, Write-offs | $ 0 | ||
Allowance for Loan Loss to Loans Outstanding Ratio | 1.18% | ||
Increase (Decrease) in Non-performing Assets | $ (316) | ||
Non-performing Assets As Percentage of Total Assets | 4.15% | 4.38% | |
Total Charge-offs [Member] | |||
Loans Receivables, Write Offs, Number of Relationships | 1 | ||
Allowance for Loan and Lease Losses, Write-offs | $ 40 | ||
Partial Charge-offs [Member] | |||
Loans Receivables, Write Offs, Number of Relationships | 3 | ||
Allowance for Loan and Lease Losses, Write-offs | $ 175 | ||
Nonperforming Financial Instruments [Member] | Payment Deferral [Member] | |||
Financing Receivable, Modifications, Number of Contracts | 6 | ||
Advances from Federal Home Loan Banks | $ 864 | ||
In Non-accrual Status [Member] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 2,700 | $ 3,200 | |
Financing Receivable, Number of Contracts, Nonaccrual Status | 16 | 17 | |
Increase (Decrease) in Finance Receivables | $ (495) | ||
Residential Portfolio Segment [Member] | |||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 1,179 | $ 1,180 | |
Allowance for Loan and Lease Losses, Write-offs | $ 0 | 102 | |
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] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 252 | 506 | |
Financing Receivable, Non-accrual Status, Sold During Period | 253 | ||
Financing Receivable Non-accrual, Returned to Accruing Status | 239 | ||
Allowance for Loan and Lease Losses, Write-offs | 71 | ||
Commercial Real Estate Portfolio Segment [Member] | Maximum [Member] | |||
Interest Rate Maturity Or Re-price | 7 years | ||
Loan Amortization Period | 25 years | ||
Loan Origination, Percentage of Appraised Value or Selling Price | 80.00% | ||
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 | |||
Allowance for Loan and Lease Losses, Write-offs | $ 0 | ||
Consumer Portfolio Segment [Member] | Maximum [Member] | |||
Loan Origination, Percentage of Appraised Value or Selling Price | 80.00% | ||
Construction Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | |||
Allowance for Loan and Lease Losses, Write-offs | $ 0 | ||
Construction Portfolio Segment [Member] | Maximum [Member] | |||
Loan Term | 1 year |
Note 9 - Loans - Loans (Details
Note 9 - Loans - Loans (Details) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 | Mar. 31, 2016 |
Loans | $ 84,890,000 | $ 85,477,000 | |
Net deferred loan origination fees | (60,000) | (62,000) | |
Allowance for loan losses | (1,005,316) | (1,001,449) | $ (1,099,000) |
Loans, net | 83,825,378 | 84,414,361 | |
Residential Portfolio Segment [Member] | |||
Loans | 60,471,000 | 61,419,000 | |
Allowance for loan losses | (579,000) | (575,000) | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans | 11,677,000 | 12,071,000 | |
Allowance for loan losses | (271,000) | (274,000) | |
Commercial Portfolio Segment [Member] | |||
Loans | 2,194,000 | 1,858,000 | |
Allowance for loan losses | (65,000) | (64,000) | |
Home Equity Portfolio Segment [Member] | |||
Loans | 9,021,000 | 8,812,000 | |
Allowance for loan losses | (74,000) | (74,000) | |
Consumer Portfolio Segment [Member] | |||
Loans | 615,000 | 637,000 | |
Allowance for loan losses | (14,000) | (12,000) | |
Construction Portfolio Segment [Member] | |||
Loans | 912,000 | 680,000 | |
Allowance for loan losses | $ (2,000) | $ (2,000) |
Note 9 - Loans - Loans by Credi
Note 9 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 |
Loans | $ 84,890 | $ 85,477 |
Nonperforming Financial Instruments [Member] | ||
Loans | 4,023 | |
Pass [Member] | ||
Loans | 80,664 | |
Special Mention [Member] | ||
Loans | ||
Classified Loans [Member] | ||
Loans | 203 | |
Residential Portfolio Segment [Member] | ||
Loans | 60,471 | 61,419 |
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 2,605 | |
Residential Portfolio Segment [Member] | Pass [Member] | ||
Loans | 57,866 | |
Residential Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | ||
Residential Portfolio Segment [Member] | Classified Loans [Member] | ||
Loans | ||
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 11,677 | 12,071 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 914 | |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loans | 10,594 | |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | ||
Commercial Real Estate Portfolio Segment [Member] | Classified Loans [Member] | ||
Loans | 169 | |
Commercial Portfolio Segment [Member] | ||
Loans | 2,194 | 1,858 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 171 | |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 1,989 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | ||
Commercial Portfolio Segment [Member] | Classified Loans [Member] | ||
Loans | 34 | |
Home Equity Portfolio Segment [Member] | ||
Loans | 9,021 | 8,812 |
Home Equity Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 281 | |
Home Equity Portfolio Segment [Member] | Pass [Member] | ||
Loans | 8,740 | |
Home Equity Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | ||
Home Equity Portfolio Segment [Member] | Classified Loans [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | ||
Loans | 615 | 637 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 615 | |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | ||
Consumer Portfolio Segment [Member] | Classified Loans [Member] | ||
Loans | ||
Construction Portfolio Segment [Member] | ||
Loans | 912 | $ 680 |
Construction Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 52 | |
Construction Portfolio Segment [Member] | Pass [Member] | ||
Loans | 860 | |
Construction Portfolio Segment [Member] | Special Mention [Member] | ||
Loans | ||
Construction Portfolio Segment [Member] | Classified Loans [Member] | ||
Loans |
Note 9 - Loans - Past Due Loans
Note 9 - Loans - Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 |
Past due loans | $ 3,981 | |
Current loans | 80,909 | |
Loans | $ 84,890 | $ 85,477 |
Percentage past due loans | 4.70% | |
Percentage of current loans | 95.30% | |
Percentage of Total Loans | 100.00% | |
Residential Portfolio Segment [Member] | ||
Past due loans | $ 2,324 | |
Current loans | 58,147 | |
Loans | 60,471 | 61,419 |
Commercial Real Estate Portfolio Segment [Member] | ||
Past due loans | 1,220 | |
Current loans | 10,457 | |
Loans | 11,677 | 12,071 |
Commercial Portfolio Segment [Member] | ||
Past due loans | 171 | |
Current loans | 2,023 | |
Loans | 2,194 | 1,858 |
Home Equity Portfolio Segment [Member] | ||
Past due loans | 226 | |
Current loans | 8,795 | |
Loans | 9,021 | 8,812 |
Consumer Portfolio Segment [Member] | ||
Past due loans | 40 | |
Current loans | 575 | |
Loans | 615 | 637 |
Construction Portfolio Segment [Member] | ||
Current loans | 912 | |
Loans | 912 | $ 680 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due loans | $ 806 | |
Percentage past due loans | 0.90% | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Past due loans | $ 487 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Past due loans | 239 | |
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 | 40 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | ||
Past due loans | 40 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due loans | $ 649 | |
Percentage past due loans | 0.80% | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Past due loans | $ 294 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Past due loans | 355 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | ||
Past due loans | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due loans | $ 2,526 | |
Percentage past due loans | 3.00% | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | ||
Past due loans | $ 1,543 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Past due loans | 626 | |
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 | $ 186 |
Note 9 - Loans - Impaired Loans
Note 9 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Mar. 31, 2017 | |
Impaired loans for which a valuation allowance has been provided | ||
Impaired loans for which no valuation allowance has been provided | 4,620 | 4,883 |
Total loans determined to be impaired | 4,620 | 4,883 |
Allowance for loans losses related to impaired loans | ||
Average recorded investment in impaired loans | 4,691 | 5,225 |
Cash basis interest income recognized on impaired Loans | $ 41 | $ 173 |
Note 9 - Loans - Impaired Loa37
Note 9 - Loans - Impaired Loans by Portfolio (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Mar. 31, 2017 | |
Recorded investment, no valuation allowance | $ 4,691 | $ 4,963 |
Unpaid principal balance, no valuation allowance | 4,620 | 4,883 |
Average annual recorded investment, no valuation allowance | 4,695 | 5,225 |
Interest income recognized while on impaired status, no valuation allowance | 41 | 173 |
Residential Portfolio Segment [Member] | ||
Recorded investment, no valuation allowance | 2,293 | 2,289 |
Unpaid principal balance, no valuation allowance | 2,232 | 2,239 |
Average annual recorded investment, no valuation allowance | 2,295 | 2,711 |
Interest income recognized while on impaired status, no valuation allowance | 16 | 60 |
Commercial Real Estate Portfolio Segment [Member] | ||
Recorded investment, no valuation allowance | 1,890 | 2,162 |
Unpaid principal balance, no valuation allowance | 1,884 | 2,141 |
Average annual recorded investment, no valuation allowance | 1,892 | 94 |
Interest income recognized while on impaired status, no valuation allowance | 20 | |
Commercial Portfolio Segment [Member] | ||
Recorded investment, no valuation allowance | 171 | 171 |
Unpaid principal balance, no valuation allowance | 171 | 171 |
Average annual recorded investment, no valuation allowance | 171 | 153 |
Interest income recognized while on impaired status, no valuation allowance | 3 | 9 |
Home Equity Portfolio Segment [Member] | ||
Recorded investment, no valuation allowance | 281 | 283 |
Unpaid principal balance, no valuation allowance | 281 | 279 |
Average annual recorded investment, no valuation allowance | 281 | 242 |
Interest income recognized while on impaired status, no valuation allowance | 1 | 7 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, no valuation allowance | ||
Unpaid principal balance, no valuation allowance | ||
Average annual recorded investment, no valuation allowance | 1 | |
Interest income recognized while on impaired status, no valuation allowance | ||
Construction Portfolio Segment [Member] | ||
Recorded investment, no valuation allowance | 56 | 57 |
Unpaid principal balance, no valuation allowance | 52 | 53 |
Average annual recorded investment, no valuation allowance | 56 | 58 |
Interest income recognized while on impaired status, no valuation allowance | $ 1 | $ 3 |
Note 9 - Loans - Nonaccrual Loa
Note 9 - Loans - Nonaccrual Loans (Details) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 | Mar. 31, 2016 |
Nonaccrual loans | $ 1,657,000 | $ 1,911,000 | |
Accruing loans past 90 days or more | |||
Troubled debt restructurings | 2,366,000 | 2,376,000 | |
Real estate owned | 1,219,083 | 1,271,302 | $ 1,763,000 |
Total non-performing assets | $ 126,256,232 | $ 126,987,353 | |
Non-performing loans as a percentage of loans | 4.74% | 5.02% | |
Non-performing assets as a percentage of loans and real estate owned | 6.09% | 6.41% | |
Non-performing assets as percentage of total assets | 4.15% | 4.38% | |
Nonperforming Financial Instruments [Member] | |||
Troubled debt restructurings | $ 1,055,000 | $ 1,296,000 | |
Total non-performing loans | 4,023,000 | 4,287,000 | |
Real estate owned | 1,219,000 | 1,271,000 | |
Total non-performing assets | 5,242,000 | 5,558,000 | |
Performing Financial Instruments [Member] | |||
Troubled debt restructurings | 1,311,000 | 1,080,000 | |
Residential Portfolio Segment [Member] | |||
Nonaccrual loans | 1,179,000 | 1,180,000 | |
Accruing loans past 90 days or more | |||
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled debt restructurings | 738,000 | 740,000 | |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled debt restructurings | 688,000 | 693,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Nonaccrual loans | 252,000 | 506,000 | |
Accruing loans past 90 days or more | |||
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled debt restructurings | 186,000 | 425,000 | |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled debt restructurings | 476,000 | 240,000 | |
Commercial Portfolio Segment [Member] | |||
Nonaccrual loans | 171,000 | 172,000 | |
Accruing loans past 90 days or more | |||
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled debt restructurings | |||
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled debt restructurings | |||
Consumer Portfolio Segment [Member] | |||
Nonaccrual loans | |||
Accruing loans past 90 days or more | |||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled debt restructurings | |||
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled debt restructurings | |||
Home Equity Portfolio Segment [Member] | |||
Nonaccrual loans | 55,000 | 53,000 | |
Accruing loans past 90 days or more | |||
Home Equity Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled debt restructurings | 131,000 | 131,000 | |
Home Equity Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled debt restructurings | 95,000 | 95,000 | |
Construction Portfolio Segment [Member] | |||
Nonaccrual loans | |||
Accruing loans past 90 days or more | |||
Construction Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled debt restructurings | |||
Construction Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled debt restructurings | $ 52,000 | $ 52,000 |
Note 9 - Loans - Troubled Debt
Note 9 - Loans - Troubled Debt Restructurings (Details) - Residential Portfolio Segment [Member] $ in Thousands | 3 Months Ended | 12 Months Ended |
Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | |
Outstanding Recorded Investment Pre-Modification | $ 77 | |
Outstanding Recorded Investment Post-Modification | $ 96 | |
Number of Contracts | 1 |
Note 9 - Loans - Troubled Deb40
Note 9 - Loans - Troubled Debt Restructurings, Subsequent Default (Details) - Residential Portfolio Segment [Member] | 3 Months Ended | 12 Months Ended |
Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | |
Troubled debt restructurings that subsequently defaulted, recorded investment | ||
Troubled debt restructurings that subsequently defaulted, number of contracts |
Note 9 - Loans - Real Estate Ow
Note 9 - Loans - Real Estate Owned (REO), Net of Valuation Allowance (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | Mar. 31, 2017 | |
Balance, beginning of period | $ 1,271,302 | $ 1,763,000 | $ 1,763,000 |
Additions from loan foreclosures | 500,000 | ||
Additions from capitalized costs | 26,000 | ||
Dispositions of REO | (922,000) | ||
(Loss) on sale of real estate owned | (5,532) | (34,000) | |
Valuation adjustments in the period | (52,000) | (62,000) | |
Balance, end of period | 1,219,083 | 1,271,302 | |
Balance, beginning of period | 104,000 | $ 227,000 | 227,000 |
Valuation adjustments added in the period | 52,000 | 62,000 | |
Valuation adjustments on disposed properties during the period | (185,000) | ||
Balance, end of period | $ 156,000 | $ 104,000 |
Note 9 - Loans - Allowance for
Note 9 - Loans - Allowance for Losses on Loans and Charge-offs (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | Mar. 31, 2017 | |
Balance, beginning of year | $ 1,001,449 | $ 1,099,000 | $ 1,099,000 |
Provision | (20,000) | $ (48,000) | (22,000) |
Loan charge-offs | 0 | ||
Recoveries | (24,000) | (139,000) | |
Total Net Charge-Offs | (24,000) | 76,000 | |
Balance, end of period | 1,005,316 | 1,001,449 | |
Loans | 84,890,000 | 85,477,000 | |
Average loans outstanding | $ 85,435,000 | $ 84,426,000 | |
Allowance as a percentage of period-end loans | 1.18% | 1.17% | |
Net charge-offs as a percentage of average loans | (0.03%) | 0.09% | |
Commercial Portfolio Segment [Member] | |||
Balance, beginning of year | $ 64,000 | ||
Provision | $ (45,000) | ||
Loan charge-offs | |||
Recoveries | (1,000) | ||
Balance, end of period | 65,000 | 64,000 | |
Loans | 2,194,000 | 1,858,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Balance, beginning of year | 274,000 | ||
Provision | (20,000) | (61,000) | |
Loan charge-offs | 71,000 | ||
Recoveries | (17,000) | ||
Balance, end of period | 271,000 | 274,000 | |
Loans | 11,677,000 | 12,071,000 | |
Residential Portfolio Segment [Member] | |||
Balance, beginning of year | 575,000 | ||
Provision | 98,000 | ||
Loan charge-offs | 0 | 102,000 | |
Recoveries | (4,000) | ||
Balance, end of period | 579,000 | 575,000 | |
Loans | 60,471,000 | 61,419,000 | |
Home Equity Portfolio Segment [Member] | |||
Balance, beginning of year | 74,000 | ||
Provision | 29,000 | ||
Loan charge-offs | 42,000 | ||
Recoveries | 0 | ||
Balance, end of period | 74,000 | 74,000 | |
Loans | 9,021,000 | 8,812,000 | |
Consumer Portfolio Segment [Member] | |||
Balance, beginning of year | 12,000 | ||
Provision | (45,000) | ||
Loan charge-offs | 0 | ||
Recoveries | (2,000) | ||
Balance, end of period | 14,000 | 12,000 | |
Loans | 615,000 | 637,000 | |
Construction Portfolio Segment [Member] | |||
Balance, beginning of year | 2,000 | ||
Provision | 2,000 | ||
Loan charge-offs | 0 | ||
Recoveries | 0 | ||
Balance, end of period | 2,000 | 2,000 | |
Loans | $ 912,000 | $ 680,000 |
Note 9 - Loans - Allowance fo43
Note 9 - Loans - Allowance for Loan Losses (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | Mar. 31, 2017 | |
Balance, beginning of year | $ 1,001,449 | $ 1,099,000 | $ 1,099,000 |
Ending balance for loans individually evaluated for impairment | |||
Loan charge-offs | 0 | ||
Recoveries | 24,000 | 139,000 | |
Provision for loan losses | (20,000) | $ (48,000) | (22,000) |
Balance, end of period | 1,005,316 | 1,001,449 | |
Ending balance for loans collectively evaluated for impairment | 1,005,000 | ||
Ending balance | 84,890,000 | 85,477,000 | |
Ending balance: loans individually evaluated for impairment | 4,533,000 | ||
Ending balance: loans collectively evaluated for impairment | 80,357,000 | ||
Commercial Portfolio Segment [Member] | |||
Balance, beginning of year | 64,000 | ||
Ending balance for loans individually evaluated for impairment | |||
Loan charge-offs | |||
Recoveries | 1,000 | ||
Provision for loan losses | (45,000) | ||
Balance, end of period | 65,000 | 64,000 | |
Ending balance for loans collectively evaluated for impairment | 65,000 | ||
Ending balance | 2,194,000 | 1,858,000 | |
Ending balance: loans individually evaluated for impairment | 187,000 | ||
Ending balance: loans collectively evaluated for impairment | 2,007,000 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Balance, beginning of year | 274,000 | ||
Ending balance for loans individually evaluated for impairment | |||
Loan charge-offs | (71,000) | ||
Recoveries | 17,000 | ||
Provision for loan losses | (20,000) | (61,000) | |
Balance, end of period | 271,000 | 274,000 | |
Ending balance for loans collectively evaluated for impairment | 271,000 | ||
Ending balance | 11,677,000 | 12,071,000 | |
Ending balance: loans individually evaluated for impairment | 1,407,000 | ||
Ending balance: loans collectively evaluated for impairment | 10,270,000 | ||
Residential Portfolio Segment [Member] | |||
Balance, beginning of year | 575,000 | ||
Ending balance for loans individually evaluated for impairment | |||
Loan charge-offs | 0 | (102,000) | |
Recoveries | 4,000 | ||
Provision for loan losses | 98,000 | ||
Balance, end of period | 579,000 | 575,000 | |
Ending balance for loans collectively evaluated for impairment | 579,000 | ||
Ending balance | 60,471,000 | 61,419,000 | |
Ending balance: loans individually evaluated for impairment | 2,373,000 | ||
Ending balance: loans collectively evaluated for impairment | 58,098,000 | ||
Home Equity Portfolio Segment [Member] | |||
Balance, beginning of year | 74,000 | ||
Ending balance for loans individually evaluated for impairment | |||
Loan charge-offs | (42,000) | ||
Recoveries | 0 | ||
Provision for loan losses | 29,000 | ||
Balance, end of period | 74,000 | 74,000 | |
Ending balance for loans collectively evaluated for impairment | 74,000 | ||
Ending balance | 9,021,000 | 8,812,000 | |
Ending balance: loans individually evaluated for impairment | 514,000 | ||
Ending balance: loans collectively evaluated for impairment | 8,507,000 | ||
Consumer Portfolio Segment [Member] | |||
Balance, beginning of year | 12,000 | ||
Ending balance for loans individually evaluated for impairment | |||
Loan charge-offs | 0 | ||
Recoveries | 2,000 | ||
Provision for loan losses | (45,000) | ||
Balance, end of period | 14,000 | 12,000 | |
Ending balance for loans collectively evaluated for impairment | 14,000 | ||
Ending balance | 615,000 | 637,000 | |
Ending balance: loans individually evaluated for impairment | |||
Ending balance: loans collectively evaluated for impairment | 615,000 | ||
Construction Portfolio Segment [Member] | |||
Balance, beginning of year | 2,000 | ||
Ending balance for loans individually evaluated for impairment | |||
Loan charge-offs | 0 | ||
Recoveries | 0 | ||
Provision for loan losses | 2,000 | ||
Balance, end of period | 2,000 | 2,000 | |
Ending balance for loans collectively evaluated for impairment | 2,000 | ||
Ending balance | 912,000 | $ 680,000 | |
Ending balance: loans individually evaluated for impairment | 52,000 | ||
Ending balance: loans collectively evaluated for impairment | $ 860,000 |
Note 10 - Investment Securiti44
Note 10 - Investment Securities (Details Textual) - Debt Securities [Member] | Jun. 30, 2017 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 39 |
Securities in Unrealized Loss Positions, Depreciated Percentage from Amortized Cost | 3.00% |
Note 10 - Investment Securiti45
Note 10 - Investment Securities - Held-to-maturity Securities (Details) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 |
Held-to-maturity securities, amortized cost | $ 22,575,925 | $ 22,622,835 |
Held-to-maturity securities, gross unrealized gains | 38,000 | 58,000 |
Held-to-maturity securities, gross unrealized losses | (660,000) | (883,000) |
Investment securities-held to maturity | 21,954,235 | 21,797,695 |
US Government Agencies Debt Securities [Member] | ||
Held-to-maturity securities, amortized cost | 20,418,000 | 20,418,000 |
Held-to-maturity securities, gross unrealized gains | ||
Held-to-maturity securities, gross unrealized losses | (659,000) | (865,000) |
Investment securities-held to maturity | 19,759,000 | 19,553,000 |
Municipal Bonds [Member] | ||
Held-to-maturity securities, amortized cost | 1,536,000 | 1,536,000 |
Held-to-maturity securities, gross unrealized gains | ||
Held-to-maturity securities, gross unrealized losses | (1,000) | (3,000) |
Investment securities-held to maturity | 1,535,000 | 1,533,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Held-to-maturity securities, amortized cost | 622,000 | 669,000 |
Held-to-maturity securities, gross unrealized gains | 38,000 | 58,000 |
Held-to-maturity securities, gross unrealized losses | (15,000) | |
Investment securities-held to maturity | $ 660,000 | $ 712,000 |
Note 10 - Investment Securiti46
Note 10 - Investment Securities - Available-for-sale Securities (Details) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 |
Available-for-sale securities - gross unrealized gains | $ 9,000 | $ 8,000 |
Available-for-sale securities - gross unrealized losses | (1,000) | (2,000) |
Available-for-sale securities - fair value | 2,591,470 | 2,594,888 |
Investment securities available-for-sale, amortized cost | 2,582,944 | 2,588,817 |
Certificates of Deposit [Member] | ||
Available-for-sale securities - gross unrealized gains | 9,000 | 8,000 |
Available-for-sale securities - gross unrealized losses | ||
Available-for-sale securities - fair value | 2,509,000 | 2,008,000 |
Investment securities available-for-sale, amortized cost | 2,500,000 | 2,000,000 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities - gross unrealized gains | ||
Available-for-sale securities - gross unrealized losses | ||
Available-for-sale securities - fair value | 500,000 | |
Investment securities available-for-sale, amortized cost | 500,000 | |
Mutual Fund Shares [Member] | ||
Available-for-sale securities - gross unrealized gains | ||
Available-for-sale securities - gross unrealized losses | (1,000) | (2,000) |
Available-for-sale securities - fair value | 82,000 | 87,000 |
Investment securities available-for-sale, amortized cost | $ 83,000 | $ 89,000 |
Note 10 - Investment Securiti47
Note 10 - Investment Securities - Maturities of Securities (Details) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 |
Available for Sale, Amortized Cost | $ 2,583,000 | $ 2,589,000 |
Available for Sale, Fair Value | 2,591,000 | 2,595,000 |
Held to Maturity, One year or less, Amortized Cost | 1,539,000 | 1,536,000 |
Held to Maturity, One year or less, Fair Value | 1,535,000 | 1,534,000 |
Available for Sale, One year or less, Amortized Cost | 500,000 | |
Available for Sale, One year or less, Fair Value | 500,000 | |
Held to Maturity, After one year through five years, Amortized Cost | 500,000 | 500,000 |
Held to Maturity, After one year through five years, Fair Value | 497,000 | 497,000 |
Available for Sale, After one year through five years, Amortized Cost | 2,000,000 | |
Available for Sale, After one year through five years, Fair Value | 2,009,000 | |
Held to Maturity, After five years through ten years, Amortized Cost | 8,555,000 | 8,573,000 |
Held to Maturity, After five years through ten years, Fair Value | 8,330,000 | 8,292,000 |
Available for Sale, After five years through ten years, Amortized Cost | 2,000,000 | |
Available for Sale, After five years through ten years, Fair Value | 2,008,000 | |
Held to Maturity, After ten years, Amortized Cost | 11,982,000 | 12,014,000 |
Held to Maturity, After ten years, Fair Value | 11,592,000 | 11,475,000 |
Available for Sale, After ten years, Amortized Cost | 500,000 | |
Available for Sale, After ten years, Fair Value | 500,000 | |
Mutual fund shares, held to maturity, amortized cost | ||
Mutual fund shares, held to maturity, fair value | ||
Equity securities, Amortized Cost | 83,000 | 89,000 |
Equity securities, Fair Value | 82,000 | 87,000 |
Held-to-maturity securities, amortized cost | 22,575,925 | 22,622,835 |
Held to Maturity, Fair Value | $ 21,954,235 | $ 21,797,695 |
Note 10 - Investment Securiti48
Note 10 - Investment Securities - Securities with Gross Unrealized Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 |
Securities with unrealized losses, fair value | $ 21,294 | $ 21,641 |
Securities with unrealized losses, gross unrealized losses | (660) | (885) |
Securities with unrealized losses, less than 12 months, fair value | 21,294 | 21,338 |
Securities with unrealized losses, less than 12 months, gross unrealized losses | (660) | (868) |
Securities with unrealized losses, 12 months or greater, fair value | 303 | |
Securities with unrealized losses, 12 months or greater, gross unrealized losses | (17) | |
US Government Agencies Debt Securities [Member] | ||
Securities with unrealized losses, fair value | 19,759 | 19,553 |
Securities with unrealized losses, gross unrealized losses | (659) | (864) |
Securities with unrealized losses, less than 12 months, fair value | 19,759 | 19,553 |
Securities with unrealized losses, less than 12 months, gross unrealized losses | (659) | (864) |
Securities with unrealized losses, 12 months or greater, fair value | ||
Securities with unrealized losses, 12 months or greater, gross unrealized losses | ||
Municipal Bonds [Member] | ||
Securities with unrealized losses, fair value | 1,535 | 1,536 |
Securities with unrealized losses, gross unrealized losses | (1) | (3) |
Securities with unrealized losses, less than 12 months, fair value | 1,535 | 1,536 |
Securities with unrealized losses, less than 12 months, gross unrealized losses | (1) | (3) |
Securities with unrealized losses, 12 months or greater, fair value | ||
Securities with unrealized losses, 12 months or greater, gross unrealized losses | ||
Certificates of Deposit [Member] | ||
Securities with unrealized losses, fair value | 249 | |
Securities with unrealized losses, gross unrealized losses | (1) | |
Securities with unrealized losses, less than 12 months, fair value | 249 | |
Securities with unrealized losses, less than 12 months, gross unrealized losses | (1) | |
Securities with unrealized losses, 12 months or greater, fair value | ||
Securities with unrealized losses, 12 months or greater, gross unrealized losses | ||
Mutual Fund Shares [Member] | ||
Securities with unrealized losses, fair value | 87 | |
Securities with unrealized losses, gross unrealized losses | (2) | |
Securities with unrealized losses, less than 12 months, fair value | ||
Securities with unrealized losses, less than 12 months, gross unrealized losses | ||
Securities with unrealized losses, 12 months or greater, fair value | 87 | |
Securities with unrealized losses, 12 months or greater, gross unrealized losses | (2) | |
Collateralized Mortgage Backed Securities [Member] | ||
Securities with unrealized losses, fair value | 216 | |
Securities with unrealized losses, gross unrealized losses | (15) | |
Securities with unrealized losses, less than 12 months, fair value | ||
Securities with unrealized losses, less than 12 months, gross unrealized losses | ||
Securities with unrealized losses, 12 months or greater, fair value | 216 | |
Securities with unrealized losses, 12 months or greater, gross unrealized losses | $ (15) |