Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Dec. 31, 2017 | Feb. 06, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | Delanco Bancorp, Inc. | |
Entity Central Index Key | 1,577,603 | |
Trading Symbol | dlno | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 945,425 | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2017 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) | Dec. 31, 2017 | Mar. 31, 2017 |
ASSETS | ||
Cash and amounts due from banks | $ 1,035,252 | $ 511,355 |
Interest-bearing deposits | 10,700,468 | 6,487,188 |
Total cash and cash equivalents | 11,735,720 | 6,998,543 |
Investment Securities | ||
Securities available-for-sale (amortized cost of $2,066,023 and $2,588,817 at December 31, 2017 and March 31, 2017, respectively) | 2,065,571 | 2,594,888 |
Securities held-to-maturity (fair value $20,655,700 and $21,797,695 at December 31, 2017 and March 31, 2017, respectively) | 21,281,594 | 22,622,835 |
Total investment securities | 23,347,165 | 25,217,723 |
Loans, net of allowance for loan losses of $1,005,774 at December 31, 2017 (unaudited), $1,001,449 at March 31, 2017 | 83,701,818 | 84,414,361 |
Accrued interest receivable | 378,836 | 378,243 |
Real estate owned | 1,311,438 | 1,271,302 |
Federal Home Loan Bank, at cost | 102,000 | 124,300 |
Premises and equipment, net | 5,878,969 | 6,047,703 |
Deferred income taxes | 1,396,400 | 1,981,950 |
Bank-owned life insurance | 178,514 | 178,514 |
Other assets | 148,586 | 374,714 |
Total assets | 128,179,446 | 126,987,353 |
LIABILITIES | ||
Non-interest bearing deposits | 12,364,748 | 11,703,567 |
Interest bearing deposits | 101,224,233 | 100,377,179 |
Total deposits | 113,588,981 | 112,080,746 |
Accrued interest payable | 1,734 | 6,273 |
Advance payments by borrowers for taxes and insurance | 446,000 | 500,485 |
Other liabilities | 892,237 | 908,005 |
Total liabilities | 114,928,952 | 113,495,509 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $.01 par value, 5,000,000 authorized at December 31, 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 December 31, 2017 and March 31, 2017 | 9,454 | 9,454 |
Additional paid-in capital | 10,071,835 | 10,029,506 |
Retained earnings, substantially restricted | 3,711,194 | 4,036,465 |
Unearned common stock held by employee stock ownership plan | (409,963) | (455,514) |
Accumulated other comprehensive (loss) | (132,026) | (128,067) |
Total stockholder’s equity | 13,250,494 | 13,491,844 |
Total liabilities and stockholders’ equity | $ 128,179,446 | $ 126,987,353 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) | Dec. 31, 2017 | Mar. 31, 2017 |
Securities available-for-sale, amortized cost | $ 2,066,023 | $ 2,588,817 |
Securities held-to-maturity , fair value | 20,655,700 | 21,797,695 |
Loans, allowance for loan losses | $ 1,005,774 | $ 1,001,449 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, issued (in shares) | 945,425 | 945,425 |
Common stock, outstanding (in shares) | 945,425 | 945,425 |
Consolidated Statements of Inco
Consolidated Statements of Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | |
INTEREST INCOME | ||||
Loans | $ 897,940 | $ 875,015 | $ 2,706,558 | $ 2,641,794 |
Investment securities | 163,567 | 144,313 | 481,205 | 460,080 |
Total interest income | 1,061,507 | 1,019,328 | 3,187,763 | 3,101,874 |
INTEREST EXPENSE | ||||
Interest-bearing checking accounts | 10,214 | 11,512 | 26,987 | 33,664 |
Passbook and money market accounts | 32,954 | 30,158 | 95,798 | 89,850 |
Certificates of deposits | 86,888 | 90,016 | 257,019 | 272,014 |
Federal Home Loan Bank Advances | 336 | 15 | 5,148 | |
Total interest expense | 130,056 | 132,022 | 379,819 | 400,676 |
Net interest income | 931,451 | 887,306 | 2,807,944 | 2,701,198 |
Provision (recovery)for loan losses | (25,000) | 26,000 | (110,000) | (22,000) |
Net interest income after provision for loan losses | 956,451 | 861,306 | 2,917,944 | 2,723,198 |
NON-INTEREST INCOME | ||||
Gain on sale of an asset | 71,516 | |||
Gain(Loss) on sale of real estate owned | (1,218) | 300 | 22,197 | (2,540) |
Service charges | 30,139 | 31,351 | 93,490 | 93,781 |
Rental income | 9,310 | 9,597 | 28,510 | 34,632 |
Other | 3,691 | 3,581 | 11,704 | 11,010 |
Total non-interest income | 41,922 | 44,829 | 227,417 | 136,883 |
NON-INTEREST EXPENSE | ||||
Salaries and employee benefits | 405,615 | 403,015 | 1,222,418 | 1,200,653 |
Advertising | 4,708 | 3,844 | 12,615 | 15,221 |
Office supplies, telephone and postage | 22,044 | 23,613 | 76,257 | 77,620 |
Loan expenses | 4,925 | 6,561 | 25,158 | 40,893 |
Occupancy expense | 140,376 | 146,685 | 421,574 | 440,038 |
Federal insurance premiums | 19,444 | 1,247 | 61,506 | 86,673 |
Real estate owned loss reserve | 49,000 | 80,218 | 62,100 | |
Data processing expenses | 65,226 | 61,431 | 190,930 | 188,589 |
ATM expenses | 14,076 | 11,310 | 39,220 | 27,610 |
Bank charges and fees | 19,566 | 20,504 | 61,194 | 64,606 |
Insurance and surety bond premiums | 19,944 | 20,575 | 60,711 | 65,304 |
Dues and subscriptions | 5,362 | 8,831 | 22,417 | 33,285 |
Professional fees | 49,943 | 77,164 | 200,558 | 202,784 |
Real Estate Owned expense | 29,010 | 31,831 | 83,432 | 93,982 |
Merger Related Expense | 220,959 | 220,959 | ||
Other | 32,950 | 35,175 | 100,601 | 105,036 |
Total non-interest expense | 1,054,148 | 900,786 | 2,879,768 | 2,704,394 |
INCOME (LOSS) BEFORE INCOME TAX EXPENSE | (55,775) | 5,349 | 265,593 | 155,687 |
Income tax expense | 422,964 | 2,030 | 590,864 | 74,482 |
NET INCOME (LOSS) | $ (478,739) | $ 3,319 | $ (325,271) | $ 81,205 |
INCOME (LOSS) PER COMMON SHARE (in dollars per share) | $ (0.52) | $ 0 | $ (0.36) | $ 0.09 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Net Income (Loss) | $ (325,271) | $ 81,205 |
Other comprehensive loss net of tax: | ||
Unrealized (loss) on investment securities available for sale, net of deferred tax of ($136) and $3,280 for the nine months ended | (3,959) | (12,069) |
Other comprehensive (loss) | (3,959) | (12,069) |
Total Comprehensive Income (loss) | $ (329,230) | $ 69,136 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) | 9 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Unrealized (loss) on investment securities available for sale, deferred tax | $ (136) | $ 3,280 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - 9 months ended Dec. 31, 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 (Loss) | (325,271) | (325,271) | ||||
Change in unrealized gain on securities-available-for-sale, net of deferred income tax of-------- | (3,959) | (3,959) | ||||
Employee stock option expense | 34,430 | 34,430 | ||||
Shares of common stock transferred to ESOP for services | 7,899 | 45,551 | 53,450 | |||
Balance (in shares) at Dec. 31, 2017 | 945,425 | |||||
Balance at Dec. 31, 2017 | $ 9,454 | $ 10,071,835 | $ 3,711,194 | $ (409,963) | $ (132,026) | $ 13,250,494 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flow from operating activities | ||
Net Income (Loss) | $ (325,271) | $ 81,205 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
ESOP amortization | 45,551 | 45,551 |
Deferred income taxes | 588,114 | 71,780 |
Depreciation | 175,134 | 194,432 |
Discount accretion net of premium amortization | 363 | (31,307) |
Recovery of loan losses | (110,000) | (22,000) |
(Gain) Loss on sale of real estate owned | (22,197) | 2,540 |
Compensation expense for stock options | 42,329 | 21,505 |
(Increase) decrease in: | ||
Accrued interest receivable | (593) | 11,771 |
Other assets | 226,128 | 175,971 |
Increase (decrease) in: | ||
Accrued interest payable | (4,539) | (4,721) |
Other liabilities | (15,768) | 82,274 |
Net cash provided by operating activities | 599,251 | 629,001 |
Cash flows from investing activities | ||
Proceeds of securities available for sale | 522,794 | 525,109 |
Purchases of securities available for sale | (500,000) | |
Purchases of securities held-to-maturity | (19,965,000) | |
Proceeds from maturities and principal repayments of securities held-to-maturity | 1,340,878 | 18,919,864 |
Sale of investment required by law – stock in Federal Home Loan Bank | 22,300 | 129,500 |
Proceeds from sale of real estate owned | 311,342 | 466,285 |
Net (increase) decrease in loans | 493,262 | (1,234,749) |
Purchases of premises and equipment | (6,400) | (11,737) |
Net cash provided by(used in) investing activities | 2,684,176 | (1,670,728) |
Cash flows from financing activities | ||
Increase in deposits | 1,508,235 | 2,915,685 |
(Increase) decrease in advance payments by borrowers for taxes and insurance | (54,485) | 21,320 |
(Decrease) in Federal Home Loan Bank advance | (3,000,000) | |
Net cash provided by (used in) financing activities | 1,453,750 | (62,995) |
Net increase (decrease) in cash and cash equivalents | 4,737,177 | (1,104,722) |
Cash and cash equivalents, beginning of the period | 6,998,543 | 12,127,388 |
Cash and cash equivalents, end of period | 11,735,720 | 11,022,666 |
Supplemental Disclosures: | ||
Cash paid during the period for interest | 386,242 | 402,467 |
Cash paid during the period for income taxes | 2,500 | 2,500 |
Loans transferred to foreclosed real estate during the period | 410,000 | 610,148 |
Net change in unrealized gain on securities available-for-sale net of tax | $ (3,959) | $ (12,069) |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] |
Note 2 - Use of Estimates
Note 2 - Use of Estimates | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Use of Estimates [Text Block] |
Note 3 - Deferred Income Taxes
Note 3 - Deferred Income Taxes | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | |
Deferred Income Taxes [Member] | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] |
Note 4 - Income Taxes
Note 4 - Income Taxes | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] |
Note 5 - Earnings Per Share
Note 5 - Earnings Per Share | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] |
Note 6 - Termination of Regulat
Note 6 - Termination of Regulatory Agreement | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] |
Note 7 - Recent Accounting Pron
Note 7 - Recent Accounting Pronouncements | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] |
Note 8 - Fair Value of Financia
Note 8 - Fair Value of Financial Instruments | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value, Measurement Inputs, Disclosure [Text Block] |
Note 9 - Loans
Note 9 - Loans | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] |
Note 10 - Investment Securities
Note 10 - Investment Securities | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] |
Note 11 - Agreement and Plan of
Note 11 - Agreement and Plan of Reorganization | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] |
Note 5 - Earnings Per Share (Ta
Note 5 - Earnings Per Share (Tables) | 9 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | null |
Note 8 - Fair Value of Financ21
Note 8 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | null |
Fair Value Measurements, Nonrecurring [Table Text Block] | null |
Fair Value, by Balance Sheet Grouping [Table Text Block] | nullnull |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | null |
Note 9 - Loans (Tables)
Note 9 - Loans (Tables) | 9 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | null |
Financing Receivable Credit Quality Indicators [Table Text Block] | null |
Past Due Financing Receivables [Table Text Block] | null |
Impaired Financing Receivables [Table Text Block] | null |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | nullnull |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | null |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | null |
Schedule of Debtor Troubled Debt Restructuring, Subsequent Periods [Table Text Block] | null |
Real Estate Owned [Table Text Block] | nullnull |
Schedule of Charge-offs [Table Text Block] | null |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | null |
Note 10 - Investment Securiti23
Note 10 - Investment Securities (Tables) | 9 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Held-to-maturity Securities [Table Text Block] | nullnull |
Available-for-sale Securities [Table Text Block] | nullnull |
Investments Classified by Contractual Maturity Date [Table Text Block] | nullnull |
Schedule of Unrealized Loss on Investments [Table Text Block] | nullnull |
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) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended |
Dec. 31, 2017 | Mar. 31, 2019 | |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 428 | |
Discrete Tax Expense, Per Diluted Share | $ 0.46 | |
GAAP Capital Ratio, Basis Points in Excess of Tier 1 Regulatory Capital Ratio | 107.00% | |
Scenario, Forecast [Member] | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note 4 - Income Taxes (Details
Note 4 - Income Taxes (Details Textual) $ in Thousands | 9 Months Ended |
Dec. 31, 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 | 9 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | |
Numerator | $ (478,739) | $ 3,319 | $ (325,271) | $ 81,205 |
Denominators: | ||||
Basic shares outstanding (in shares) | 913,758 | 910,239 | 913,758 | 910,239 |
Effect of dilutive securities (in shares) | 4,252 | 4,252 | ||
Dilutive shares outstanding (in shares) | 913,758 | 914,491 | 913,758 | 914,491 |
Earnings per share: | ||||
Basic (in dollars per share) | $ (0.52) | $ 0 | $ (0.36) | $ 0.09 |
Dilutive (in dollars per share) | $ (0.52) | $ 0 | $ (0.36) | $ 0.09 |
Note 8 - Fair Value of Financ28
Note 8 - Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Dec. 31, 2017 | Mar. 31, 2017 |
Available-for-sale securities | $ 2,065,571 | $ 2,594,888 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 2,066,000 | 2,595,000 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities |
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 | Dec. 31, 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 | 5,238 | 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 | 3,927 | 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 | $ 1,311 | $ 1,271 |
Note 8 - Fair Value of Financ30
Note 8 - Fair Value of Financial Instruments - Estimated Fair Value of Assets and Liabilities (Details) - USD ($) | Dec. 31, 2017 | Mar. 31, 2017 |
Financial Assets: | ||
Investment securities-available for sale | $ 2,065,571 | $ 2,594,888 |
Investment securities-held to maturity | 20,655,700 | 21,797,695 |
Accrued interest receivable | 378,836 | 378,243 |
Bank-owned life insurance | 178,514 | 178,514 |
Financial Liabilities: | ||
Advance payments by borrowers for taxes and insurance | 446,000 | 500,485 |
Reported Value Measurement [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 11,736,000 | 6,999,000 |
Investment securities-available for sale | 2,066,000 | 2,589,000 |
Investment securities-held to maturity | 21,282,000 | 22,623,000 |
Impaired loans | 83,702,000 | 84,414,000 |
FHLB stock | 102,000 | 124,000 |
Accrued interest receivable | 379,000 | 378,000 |
Bank-owned life insurance | 179,000 | 179,000 |
Real estate owned | 1,311,000 | 1,271,000 |
Total financial assets | 120,757,000 | 118,577,000 |
Loans receivable,– net | 83,702,000 | 84,414,000 |
Financial Liabilities: | ||
Deposits-non-interest bearing | 12,365,000 | 11,704,000 |
Deposits-interest bearing | 101,224,000 | 100,377,000 |
Advance payments by borrowers for taxes and insurance | 446,000 | 500,000 |
Accrued interest payable | 2,000 | 6,000 |
Total financial liabilities | 114,037,000 | 112,587,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 11,736,000 | 6,999,000 |
Investment securities-available for sale | ||
Investment securities-held to maturity | ||
Impaired loans | ||
FHLB stock | 102,000 | 124,000 |
Accrued interest receivable | 379,000 | 378,000 |
Bank-owned life insurance | 179,000 | 179,000 |
Real estate owned | ||
Total financial assets | 12,396,000 | 7,680,000 |
Loans receivable,– net | ||
Financial Liabilities: | ||
Deposits-non-interest bearing | 12,365,000 | 11,704,000 |
Deposits-interest bearing | ||
Advance payments by borrowers for taxes and insurance | 446,000 | 500,000 |
Accrued interest payable | 2,000 | 6,000 |
Total financial liabilities | 12,813,000 | 12,210,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | ||
Investment securities-available for sale | 2,066,000 | 2,595,000 |
Investment securities-held to maturity | 20,656,000 | 21,798,000 |
Impaired loans | ||
FHLB stock | ||
Accrued interest receivable | ||
Bank-owned life insurance | ||
Real estate owned | ||
Total financial assets | 22,722,000 | 24,393,000 |
Loans receivable,– net | ||
Financial Liabilities: | ||
Deposits-non-interest bearing | ||
Deposits-interest bearing | 99,530,000 | 99,183,000 |
Advance payments by borrowers for taxes and insurance | ||
Accrued interest payable | ||
Total financial liabilities | 99,530,000 | 99,183,000 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | ||
Investment securities-available for sale | ||
Investment securities-held to maturity | ||
Impaired loans | 85,243,000 | 83,833,000 |
FHLB stock | ||
Real estate owned | 1,311,000 | 1,271,000 |
Total financial assets | 86,554,000 | 85,104,000 |
Loans receivable,– net | 85,243,000 | 83,833,000 |
Financial Liabilities: | ||
Deposits-non-interest bearing | ||
Deposits-interest bearing | ||
Advance payments by borrowers for taxes and insurance | ||
Total financial liabilities |
Note 8 - Fair Value of Financ31
Note 8 - Fair Value of Financial Instruments - Off-balance Sheet Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Mar. 31, 2017 |
Commitments to Extend Credit [Member] | ||
Off-balance sheet instruments | ||
Commitments to extend credit | $ 7,061 | $ 6,620 |
Note 9 - Loans (Details Textual
Note 9 - Loans (Details Textual) $ in Thousands | 9 Months Ended | 12 Months Ended |
Dec. 31, 2017USD ($) | Mar. 31, 2017USD ($) | |
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, Modifications, Recorded Investment | 1,942 | $ 2,376 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,985 | 1,911 |
Impaired Financing Receivable, Average Recorded Investment | 4,296 | 5,225 |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 102 | $ 173 |
Financing Receivable Nonaccrual, Downgraded from Accruing Status | 697 | |
Allowance for Loan and Lease Losses, Write-offs | $ 50 | |
Allowance for Loan Loss to Loans Outstanding Ratio | 1.19% | |
Increase (Decrease) in Non-performing Assets | $ (320) | |
Non-performing Assets As Percentage of Total Assets | 4.09% | 4.38% |
Partial Charge-offs [Member] | ||
Allowance for Loan and Lease Losses, Write-offs | $ 50 | $ 175 |
Total Charge-offs [Member] | ||
Allowance for Loan and Lease Losses, Write-offs | 40 | |
Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Modifications, Recorded Investment | $ 327 | $ 1,296 |
Nonperforming Financial Instruments [Member] | Payment Deferral [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 6 | |
Financing Receivable, Modifications, Recorded Investment | $ 871 | |
In Non-accrual Status [Member] | ||
Financing Receivable, Number of Contracts, Nonaccrual Status | 16 | 17 |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 2,300 | $ 3,200 |
Increase (Decrease) in Finance Receivables | (895) | |
Proceeds from Collection of Loans Receivable | $ 9 | |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 1,308 | $ 1,180 |
Financing Receivable Non-accrual, Returned to Accruing Status | 222 | |
Financing Receivable Nonaccrual Status, Transferred to Real Estate Owned | 410 | |
Financing Receivable Nonaccrual, Downgraded from Accruing Status | 385 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 102 |
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Modifications, Recorded Investment | $ 327 | 740 |
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 | $ 547 | 506 |
Financing Receivable, Non-accrual Status, Sold During Period | 253 | |
Financing Receivable Nonaccrual, Downgraded from Accruing Status | 298 | |
Allowance for Loan and Lease Losses, Write-offs | 50 | 71 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Modifications, Recorded Investment | 425 | |
Commercial Real Estate Portfolio Segment [Member] | Maximum [Member] | ||
Loan Origination, Percentage of Appraised Value or Selling Price | 80.00% | |
Interest Rate Maturity Or Re-price | 7 years | |
Loan Amortization Period | 25 years | |
Commercial Real Estate Portfolio Segment [Member] | Minimum [Member] | ||
Interest Rate Maturity Or Re-price | 5 years | |
Construction Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | |
Construction Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Modifications, Recorded Investment | ||
Construction Portfolio Segment [Member] | Maximum [Member] | ||
Loan Term | 1 year | |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 14 | |
Financing Receivable Nonaccrual, Downgraded from Accruing Status | 14 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Modifications, Recorded Investment | ||
Consumer Portfolio Segment [Member] | Maximum [Member] | ||
Loan Origination, Percentage of Appraised Value or Selling Price | 80.00% | |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 116 | 172 |
Financing Receivable Non-accrual, Returned to Accruing Status | 479 | |
Financing Receivable, Nonaccrual Status, Partial Charge-Offs | 35 | |
Allowance for Loan and Lease Losses, Write-offs | ||
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Modifications, Recorded Investment | ||
Home Equity Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 53 | |
Financing Receivable Non-accrual, Returned to Accruing Status | 184 | |
Allowance for Loan and Lease Losses, Write-offs | 42 | |
Home Equity Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Modifications, Recorded Investment | $ 131 |
Note 9 - Loans - Loans (Details
Note 9 - Loans - Loans (Details) - USD ($) | Dec. 31, 2017 | Sep. 30, 2017 | Mar. 31, 2017 | Mar. 31, 2016 |
Loans | $ 84,762,000 | $ 84,762,000 | $ 85,477,000 | |
Net deferred loan origination fees | (54,000) | (62,000) | ||
Allowance for loan losses | (1,005,774) | (1,006,000) | (1,001,449) | $ (1,099,000) |
Loans, net | 83,701,818 | 83,702,000 | 84,414,361 | |
Residential Portfolio Segment [Member] | ||||
Loans | 60,450,000 | 60,450,000 | 61,419,000 | |
Allowance for loan losses | (578,000) | (575,000) | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Loans | 12,679,000 | 12,679,000 | 12,071,000 | |
Allowance for loan losses | (264,000) | (274,000) | ||
Commercial Portfolio Segment [Member] | ||||
Loans | 2,854,000 | 2,854,000 | 1,858,000 | |
Allowance for loan losses | (66,000) | (64,000) | ||
Home Equity Portfolio Segment [Member] | ||||
Loans | 8,083,000 | 8,083,000 | 8,812,000 | |
Allowance for loan losses | (77,000) | (74,000) | ||
Consumer Portfolio Segment [Member] | ||||
Loans | 645,000 | 645,000 | 637,000 | |
Allowance for loan losses | (19,000) | (12,000) | ||
Construction Portfolio Segment [Member] | ||||
Loans | 51,000 | $ 51,000 | 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 | Dec. 31, 2017 | Sep. 30, 2017 | Mar. 31, 2017 |
Loans | $ 84,762 | $ 84,762 | $ 85,477 |
Nonperforming Financial Instruments [Member] | |||
Loans | 3,927 | ||
Pass [Member] | |||
Loans | 80,584 | ||
Special Mention [Member] | |||
Loans | |||
Classified Loans [Member] | |||
Loans | 251 | ||
Residential Portfolio Segment [Member] | |||
Loans | 60,450 | 60,450 | 61,419 |
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 2,318 | ||
Residential Portfolio Segment [Member] | Pass [Member] | |||
Loans | 58,132 | ||
Residential Portfolio Segment [Member] | Special Mention [Member] | |||
Loans | |||
Residential Portfolio Segment [Member] | Classified Loans [Member] | |||
Loans | |||
Commercial Real Estate Portfolio Segment [Member] | |||
Loans | 12,679 | 12,679 | 12,071 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 1,203 | ||
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | |||
Loans | 11,313 | ||
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | |||
Loans | |||
Commercial Real Estate Portfolio Segment [Member] | Classified Loans [Member] | |||
Loans | 163 | ||
Commercial Portfolio Segment [Member] | |||
Loans | 2,854 | 2,854 | 1,858 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 116 | ||
Commercial Portfolio Segment [Member] | Pass [Member] | |||
Loans | 2,650 | ||
Commercial Portfolio Segment [Member] | Special Mention [Member] | |||
Loans | |||
Commercial Portfolio Segment [Member] | Classified Loans [Member] | |||
Loans | 88 | ||
Home Equity Portfolio Segment [Member] | |||
Loans | 8,083 | 8,083 | 8,812 |
Home Equity Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 225 | ||
Home Equity Portfolio Segment [Member] | Pass [Member] | |||
Loans | 7,858 | ||
Home Equity Portfolio Segment [Member] | Special Mention [Member] | |||
Loans | |||
Home Equity Portfolio Segment [Member] | Classified Loans [Member] | |||
Loans | |||
Consumer Portfolio Segment [Member] | |||
Loans | 645 | 645 | 637 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 14 | ||
Consumer Portfolio Segment [Member] | Pass [Member] | |||
Loans | 631 | ||
Consumer Portfolio Segment [Member] | Special Mention [Member] | |||
Loans | |||
Consumer Portfolio Segment [Member] | Classified Loans [Member] | |||
Loans | |||
Construction Portfolio Segment [Member] | |||
Loans | 51 | $ 51 | $ 680 |
Construction Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Loans | 51 | ||
Construction Portfolio Segment [Member] | Pass [Member] | |||
Loans | |||
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 | Dec. 31, 2017 | Sep. 30, 2017 | Mar. 31, 2017 |
Past due loans | $ 4,159 | ||
Current loans | 80,603 | ||
Loans | $ 84,762 | $ 84,762 | $ 85,477 |
Percentage past due loans | 4.91% | ||
Percentage of current loans | 95.09% | ||
Percentage of Total Loans | 100.00% | ||
Residential Portfolio Segment [Member] | |||
Past due loans | $ 2,277 | ||
Current loans | 58,173 | ||
Loans | 60,450 | 60,450 | 61,419 |
Commercial Real Estate Portfolio Segment [Member] | |||
Past due loans | 1,660 | ||
Current loans | 11,019 | ||
Loans | 12,679 | 12,679 | 12,071 |
Commercial Portfolio Segment [Member] | |||
Past due loans | 116 | ||
Current loans | 2,738 | ||
Loans | 2,854 | 2,854 | 1,858 |
Home Equity Portfolio Segment [Member] | |||
Past due loans | 64 | ||
Current loans | 8,019 | ||
Loans | 8,083 | 8,083 | 8,812 |
Consumer Portfolio Segment [Member] | |||
Past due loans | 42 | ||
Current loans | 603 | ||
Loans | 645 | 645 | 637 |
Construction Portfolio Segment [Member] | |||
Current loans | 51 | ||
Loans | 51 | $ 51 | $ 680 |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past due loans | $ 1,320 | ||
Percentage past due loans | 1.56% | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | |||
Past due loans | $ 278 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Past due loans | 950 | ||
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 | 64 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Past due loans | 28 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past due loans | $ 527 | ||
Percentage past due loans | 0.62% | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | |||
Past due loans | $ 364 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Past due loans | 163 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Past due loans | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity Portfolio Segment [Member] | |||
Past due loans | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Past due loans | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past due loans | $ 2,312 | ||
Percentage past due loans | 2.73% | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | |||
Past due loans | $ 1,635 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Past due loans | 547 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Past due loans | 116 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Home Equity Portfolio Segment [Member] | |||
Past due loans | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Past due loans | $ 14 |
Note 9 - Loans - Impaired Loans
Note 9 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Dec. 31, 2017 | Mar. 31, 2017 | |
Impaired loans for which a valuation allowance has been provided | ||
Impaired loans for which no valuation allowance has been provided | 3,927 | 4,883 |
Total loans determined to be impaired | 3,927 | 4,883 |
Allowance for loans losses related to impaired loans | ||
Average recorded investment in impaired loans | 4,296 | 5,225 |
Cash basis interest income recognized on impaired loans | $ 102 | $ 173 |
Note 9 - Loans - Impaired Loa37
Note 9 - Loans - Impaired Loans by Portfolio (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Dec. 31, 2017 | Mar. 31, 2017 | |
Recorded investment, no valuation allowance | $ 4,004 | $ 4,963 |
Unpaid principal balance, no valuation allowance | 3,927 | 4,883 |
Average annual recorded investment, no valuation allowance | 4,296 | 5,225 |
Interest income recognized while on impaired status, no valuation allowance | 102 | 173 |
Residential Portfolio Segment [Member] | ||
Recorded investment, no valuation allowance | 2,039 | 2,289 |
Unpaid principal balance, no valuation allowance | 1,979 | 2,239 |
Average annual recorded investment, no valuation allowance | 2,182 | 2,711 |
Interest income recognized while on impaired status, no valuation allowance | 39 | 60 |
Commercial Real Estate Portfolio Segment [Member] | ||
Recorded investment, no valuation allowance | 1,554 | 2,162 |
Unpaid principal balance, no valuation allowance | 1,542 | 2,141 |
Average annual recorded investment, no valuation allowance | 1,662 | 2,060 |
Interest income recognized while on impaired status, no valuation allowance | 37 | 94 |
Commercial Portfolio Segment [Member] | ||
Recorded investment, no valuation allowance | 116 | 171 |
Unpaid principal balance, no valuation allowance | 116 | 171 |
Average annual recorded investment, no valuation allowance | 135 | 153 |
Interest income recognized while on impaired status, no valuation allowance | 11 | 9 |
Home Equity Portfolio Segment [Member] | ||
Recorded investment, no valuation allowance | 225 | 283 |
Unpaid principal balance, no valuation allowance | 225 | 279 |
Average annual recorded investment, no valuation allowance | 259 | 242 |
Interest income recognized while on impaired status, no valuation allowance | 13 | 7 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, no valuation allowance | 14 | |
Unpaid principal balance, no valuation allowance | 14 | |
Average annual recorded investment, no valuation allowance | 2 | 1 |
Interest income recognized while on impaired status, no valuation allowance | ||
Construction Portfolio Segment [Member] | ||
Recorded investment, no valuation allowance | 56 | 58 |
Unpaid principal balance, no valuation allowance | 51 | 53 |
Average annual recorded investment, no valuation allowance | 56 | 58 |
Interest income recognized while on impaired status, no valuation allowance | $ 2 | $ 3 |
Note 9 - Loans - Nonaccrual Loa
Note 9 - Loans - Nonaccrual Loans (Details) - USD ($) | Dec. 31, 2017 | Mar. 31, 2017 | Mar. 31, 2016 |
Non-accrual loans: | |||
Nonaccrual loans | $ 1,985,000 | $ 1,911,000 | |
Accruing loans past due 90 days or more: | |||
Accruing loans past 90 days or more | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | 1,942,000 | 2,376,000 | |
Real estate owned | 1,311,438 | 1,271,302 | $ 1,763,000 |
Total non-performing assets | $ 128,179,446 | $ 126,987,353 | |
Non-performing loans as a percentage of loans | 4.63% | 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 | 4.09% | 4.38% | |
Nonperforming Financial Instruments [Member] | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | $ 327,000 | $ 1,296,000 | |
Total non-performing loans | 3,927,000 | 4,287,000 | |
Real estate owned | 1,311,000 | 1,271,000 | |
Total non-performing assets | 5,238,000 | 5,558,000 | |
Performing Financial Instruments [Member] | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | 1,615,000 | 1,080,000 | |
Residential Portfolio Segment [Member] | |||
Non-accrual loans: | |||
Nonaccrual loans | 1,308,000 | 1,180,000 | |
Accruing loans past due 90 days or more: | |||
Accruing loans past 90 days or more | |||
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | 327,000 | 740,000 | |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | 683,000 | 693,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Non-accrual loans: | |||
Nonaccrual loans | 547,000 | 506,000 | |
Accruing loans past due 90 days or more: | |||
Accruing loans past 90 days or more | |||
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | 425,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | 656,000 | 240,000 | |
Commercial Portfolio Segment [Member] | |||
Non-accrual loans: | |||
Nonaccrual loans | 116,000 | 172,000 | |
Accruing loans past due 90 days or more: | |||
Accruing loans past 90 days or more | |||
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | |||
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | |||
Consumer Portfolio Segment [Member] | |||
Non-accrual loans: | |||
Nonaccrual loans | 14,000 | ||
Accruing loans past due 90 days or more: | |||
Accruing loans past 90 days or more | |||
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | |||
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | |||
Home Equity Portfolio Segment [Member] | |||
Non-accrual loans: | |||
Nonaccrual loans | 53,000 | ||
Accruing loans past due 90 days or more: | |||
Accruing loans past 90 days or more | |||
Home Equity Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | 131,000 | ||
Home Equity Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | 225,000 | 95,000 | |
Construction Portfolio Segment [Member] | |||
Non-accrual loans: | |||
Nonaccrual loans | |||
Accruing loans past due 90 days or more: | |||
Accruing loans past 90 days or more | |||
Construction Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | |||
Construction Portfolio Segment [Member] | Performing Financial Instruments [Member] | |||
Troubled Debt Restructurings: | |||
Troubled debt restructurings | $ 51,000 | $ 52,000 |
Note 9 - Loans - Troubled Debt
Note 9 - Loans - Troubled Debt Restructurings (Details) - Residential Portfolio Segment [Member] $ in Thousands | 9 Months Ended | 12 Months Ended |
Dec. 31, 2017USD ($) | Mar. 31, 2017USD ($) | |
Number of contracts | 1 | |
Outstanding recorded investment pre-modification | $ 77 | |
Outstanding recorded investment post-modification | $ 96 |
Note 9 - Loans - Troubled Deb40
Note 9 - Loans - Troubled Debt Restructurings That Subsequently Defaulted (Details) - Residential Portfolio Segment [Member] | 9 Months Ended |
Dec. 31, 2017USD ($) | |
Troubled debt restructurings that subsequently defaulted, number of contracts | |
Troubled debt restructurings that subsequently defaulted, recorded investment |
Note 9 - Loans - Real Estate Ow
Note 9 - Loans - Real Estate Owned (REO), Net of Valuation Allowance (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2017 | |
Balance, beginning of period | $ 1,271,302 | $ 1,763,000 | $ 1,763,000 | ||
Additions from loan foreclosures | 410,000 | 500,000 | |||
Additions from capitalized costs | 26,000 | ||||
Dispositions of REO | (349,000) | (922,000) | |||
Gain (loss) on sale of REO | $ (1,218) | $ 300 | 22,197 | (2,540) | (34,000) |
Valuation adjustments in the period | (44,000) | (62,000) | |||
Balance, end of period | 1,311,438 | 1,311,438 | 1,271,302 | ||
Balance, beginning of period | 104,000 | $ 227,000 | 227,000 | ||
Valuation adjustments added in the period | 80,000 | 62,000 | |||
Valuation adjustments on disposed properties during the period | (36,000) | (185,000) | |||
Balance, end of period | $ 148,000 | $ 148,000 | $ 104,000 |
Note 9 - Loans - Allowance for
Note 9 - Loans - Allowance for Losses on Loans and Charge-offs (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2017 | Sep. 30, 2017 | |
Balance, beginning of year | $ 1,006,000 | $ 1,001,449 | $ 1,099,000 | $ 1,099,000 | ||
Provision: | ||||||
Recovery of loan losses | (25,000) | $ 26,000 | (110,000) | $ (22,000) | (22,000) | |
Charge-offs: | ||||||
Loan charge-offs | 50,000 | |||||
Recoveries | (165,000) | (139,000) | ||||
Total Net Charge-Offs | (115,000) | 76,000 | ||||
Balance, end of period | 1,005,774 | 1,005,774 | 1,001,449 | |||
Loans | $ 84,762,000 | 84,762,000 | 85,477,000 | $ 84,762,000 | ||
Average loans outstanding | $ 85,324,000 | $ 84,426,000 | ||||
Allowance as a percentage of period-end loans | 1.19% | 1.19% | 1.17% | |||
Net charge-offs as a percentage of average loans | (0.13%) | (0.13%) | 0.09% | |||
Commercial Portfolio Segment [Member] | ||||||
Balance, beginning of year | $ 64,000 | |||||
Provision: | ||||||
Recovery of loan losses | $ (45,000) | |||||
Charge-offs: | ||||||
Loan charge-offs | ||||||
Recoveries | (2,000) | |||||
Balance, end of period | $ 66,000 | 66,000 | 64,000 | |||
Loans | 2,854,000 | 2,854,000 | 1,858,000 | 2,854,000 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Balance, beginning of year | 274,000 | |||||
Provision: | ||||||
Recovery of loan losses | (7,000) | (61,000) | ||||
Charge-offs: | ||||||
Loan charge-offs | 50,000 | 71,000 | ||||
Recoveries | (47,000) | |||||
Balance, end of period | 264,000 | 264,000 | 274,000 | |||
Loans | 12,679,000 | 12,679,000 | 12,071,000 | 12,679,000 | ||
Residential Portfolio Segment [Member] | ||||||
Balance, beginning of year | 575,000 | |||||
Provision: | ||||||
Recovery of loan losses | (70,000) | 98,000 | ||||
Charge-offs: | ||||||
Loan charge-offs | 0 | 102,000 | ||||
Recoveries | (73,000) | |||||
Balance, end of period | 578,000 | 578,000 | 575,000 | |||
Loans | 60,450,000 | 60,450,000 | 61,419,000 | 60,450,000 | ||
Home Equity Portfolio Segment [Member] | ||||||
Balance, beginning of year | 74,000 | |||||
Provision: | ||||||
Recovery of loan losses | (32,000) | 29,000 | ||||
Charge-offs: | ||||||
Loan charge-offs | 42,000 | |||||
Recoveries | (35,000) | |||||
Balance, end of period | 77,000 | 77,000 | 74,000 | |||
Loans | 8,083,000 | 8,083,000 | 8,812,000 | 8,083,000 | ||
Consumer Portfolio Segment [Member] | ||||||
Balance, beginning of year | 12,000 | |||||
Provision: | ||||||
Recovery of loan losses | (1,000) | (45,000) | ||||
Charge-offs: | ||||||
Loan charge-offs | 0 | |||||
Recoveries | (8,000) | |||||
Balance, end of period | 19,000 | 19,000 | 12,000 | |||
Loans | 645,000 | 645,000 | 637,000 | 645,000 | ||
Construction Portfolio Segment [Member] | ||||||
Balance, beginning of year | 2,000 | |||||
Provision: | ||||||
Recovery of loan losses | 2,000 | |||||
Charge-offs: | ||||||
Loan charge-offs | 0 | |||||
Recoveries | 0 | |||||
Balance, end of period | 2,000 | 2,000 | 2,000 | |||
Loans | $ 51,000 | $ 51,000 | $ 680,000 | $ 51,000 |
Note 9 - Loans - Allowance fo43
Note 9 - Loans - Allowance for Loan Losses (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2017 | Sep. 30, 2017 | |
Balance, beginning of year | $ 1,006,000 | $ 1,001,449 | $ 1,099,000 | $ 1,099,000 | ||
Loan charge-offs | (50,000) | |||||
Recoveries | 165,000 | 139,000 | ||||
Provision for loan losses | (25,000) | $ 26,000 | (110,000) | $ (22,000) | (22,000) | |
Balance, end of period | 1,005,774 | 1,005,774 | 1,001,449 | |||
Ending balance for loans individually evaluated for impairment | 3,585,000 | 3,585,000 | ||||
Ending balance for loans collectively evaluated for impairment | 81,177,000 | 81,177,000 | ||||
Ending balance | 84,762,000 | 84,762,000 | 85,477,000 | $ 84,762,000 | ||
Ending balance: loans individually evaluated for impairment | 3,585,000 | 3,585,000 | ||||
Ending balance: loans collectively evaluated for impairment | 81,177,000 | 81,177,000 | ||||
Commercial Portfolio Segment [Member] | ||||||
Balance, beginning of year | 64,000 | |||||
Loan charge-offs | ||||||
Recoveries | 2,000 | |||||
Provision for loan losses | (45,000) | |||||
Balance, end of period | 66,000 | 66,000 | 64,000 | |||
Ending balance for loans individually evaluated for impairment | 186,000 | 186,000 | ||||
Ending balance for loans collectively evaluated for impairment | 2,668,000 | 2,668,000 | ||||
Ending balance | 2,854,000 | 2,854,000 | 1,858,000 | 2,854,000 | ||
Ending balance: loans individually evaluated for impairment | 186,000 | 186,000 | ||||
Ending balance: loans collectively evaluated for impairment | 2,668,000 | 2,668,000 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Balance, beginning of year | 274,000 | |||||
Loan charge-offs | (50,000) | (71,000) | ||||
Recoveries | 47,000 | |||||
Provision for loan losses | (7,000) | (61,000) | ||||
Balance, end of period | 264,000 | 264,000 | 274,000 | |||
Ending balance for loans individually evaluated for impairment | 805,000 | 805,000 | ||||
Ending balance for loans collectively evaluated for impairment | 11,874,000 | 11,874,000 | ||||
Ending balance | 12,679,000 | 12,679,000 | 12,071,000 | 12,679,000 | ||
Ending balance: loans individually evaluated for impairment | 805,000 | 805,000 | ||||
Ending balance: loans collectively evaluated for impairment | 11,874,000 | 11,874,000 | ||||
Residential Portfolio Segment [Member] | ||||||
Balance, beginning of year | 575,000 | |||||
Loan charge-offs | 0 | (102,000) | ||||
Recoveries | 73,000 | |||||
Provision for loan losses | (70,000) | 98,000 | ||||
Balance, end of period | 578,000 | 578,000 | 575,000 | |||
Ending balance for loans individually evaluated for impairment | 2,084,000 | 2,084,000 | ||||
Ending balance for loans collectively evaluated for impairment | 58,366,000 | 58,366,000 | ||||
Ending balance | 60,450,000 | 60,450,000 | 61,419,000 | 60,450,000 | ||
Ending balance: loans individually evaluated for impairment | 2,084,000 | 2,084,000 | ||||
Ending balance: loans collectively evaluated for impairment | 58,366,000 | 58,366,000 | ||||
Home Equity Portfolio Segment [Member] | ||||||
Balance, beginning of year | 74,000 | |||||
Loan charge-offs | (42,000) | |||||
Recoveries | 35,000 | |||||
Provision for loan losses | (32,000) | 29,000 | ||||
Balance, end of period | 77,000 | 77,000 | 74,000 | |||
Ending balance for loans individually evaluated for impairment | 459,000 | 459,000 | ||||
Ending balance for loans collectively evaluated for impairment | 7,624,000 | 7,624,000 | ||||
Ending balance | 8,083,000 | 8,083,000 | 8,812,000 | 8,083,000 | ||
Ending balance: loans individually evaluated for impairment | 459,000 | 459,000 | ||||
Ending balance: loans collectively evaluated for impairment | 7,624,000 | 7,624,000 | ||||
Consumer Portfolio Segment [Member] | ||||||
Balance, beginning of year | 12,000 | |||||
Loan charge-offs | 0 | |||||
Recoveries | 8,000 | |||||
Provision for loan losses | (1,000) | (45,000) | ||||
Balance, end of period | 19,000 | 19,000 | 12,000 | |||
Ending balance for loans individually evaluated for impairment | ||||||
Ending balance for loans collectively evaluated for impairment | 645,000 | 645,000 | ||||
Ending balance | 645,000 | 645,000 | 637,000 | 645,000 | ||
Ending balance: loans individually evaluated for impairment | ||||||
Ending balance: loans collectively evaluated for impairment | 645,000 | 645,000 | ||||
Construction Portfolio Segment [Member] | ||||||
Balance, beginning of year | 2,000 | |||||
Loan charge-offs | 0 | |||||
Recoveries | 0 | |||||
Provision for loan losses | 2,000 | |||||
Balance, end of period | 2,000 | 2,000 | 2,000 | |||
Ending balance for loans individually evaluated for impairment | 51,000 | 51,000 | ||||
Ending balance for loans collectively evaluated for impairment | ||||||
Ending balance | 51,000 | 51,000 | $ 680,000 | $ 51,000 | ||
Ending balance: loans individually evaluated for impairment | 51,000 | 51,000 | ||||
Ending balance: loans collectively evaluated for impairment |
Note 10 - Investment Securiti44
Note 10 - Investment Securities (Details Textual) | Dec. 31, 2017 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 41 |
Securities in Unrealized Loss Positions, Depreciated Percentage from Amortized Cost | 3.10% |
Note 10 - Investment Securiti45
Note 10 - Investment Securities - Held-to-maturity Securities (Details) - USD ($) | Dec. 31, 2017 | Mar. 31, 2017 |
Held-to-maturity securities, amortized cost | $ 21,281,594 | $ 22,622,835 |
Held-to-maturity securities, gross unrealized gains | 32,000 | 58,000 |
Held-to-maturity securities, gross unrealized losses | (658,000) | (883,000) |
Securities held-to-maturity , fair value | 20,655,700 | 21,797,695 |
US Government Agencies Debt Securities [Member] | ||
Held-to-maturity securities, amortized cost | 19,918,000 | 20,418,000 |
Held-to-maturity securities, gross unrealized gains | ||
Held-to-maturity securities, gross unrealized losses | (655,000) | (865,000) |
Securities held-to-maturity , fair value | 19,263,000 | 19,553,000 |
Municipal Bonds [Member] | ||
Held-to-maturity securities, amortized cost | 810,000 | 1,536,000 |
Held-to-maturity securities, gross unrealized gains | ||
Held-to-maturity securities, gross unrealized losses | (3,000) | (3,000) |
Securities held-to-maturity , fair value | 807,000 | 1,533,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Held-to-maturity securities, amortized cost | 554,000 | 669,000 |
Held-to-maturity securities, gross unrealized gains | 32,000 | 58,000 |
Held-to-maturity securities, gross unrealized losses | (15,000) | |
Securities held-to-maturity , fair value | $ 586,000 | $ 712,000 |
Note 10 - Investment Securiti46
Note 10 - Investment Securities - Available-for-sale Securities (Details) - USD ($) | Dec. 31, 2017 | Mar. 31, 2017 |
Securities available-for-sale, amortized cost | $ 2,066,023 | $ 2,588,817 |
Available-for-sale securities - gross unrealized gains | 2,000 | 8,000 |
Available-for-sale securities - gross unrealized losses | (2,000) | (2,000) |
Available-for-sale securities - fair value | 2,065,571 | 2,594,888 |
Certificates of Deposit [Member] | ||
Securities available-for-sale, amortized cost | 2,000,000 | 2,000,000 |
Available-for-sale securities - gross unrealized gains | 2,000 | 8,000 |
Available-for-sale securities - gross unrealized losses | (2,000) | |
Available-for-sale securities - fair value | 2,000,000 | 2,008,000 |
Mutual Fund [Member] | ||
Securities available-for-sale, amortized cost | 66,000 | 89,000 |
Available-for-sale securities - gross unrealized gains | ||
Available-for-sale securities - gross unrealized losses | (2,000) | |
Available-for-sale securities - fair value | $ 66,000 | 87,000 |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale, amortized cost | 500,000 | |
Available-for-sale securities - gross unrealized gains | ||
Available-for-sale securities - gross unrealized losses | ||
Available-for-sale securities - fair value | $ 500,000 |
Note 10 - Investment Securiti47
Note 10 - Investment Securities - Maturities of Securities (Details) - USD ($) | Dec. 31, 2017 | Mar. 31, 2017 |
Held to maturity, one year or less, amortized cost | $ 810,000 | $ 1,536,000 |
Held to maturity, one year or less, fair value | 807,000 | 1,534,000 |
Available for sale, one year or less, amortized cost | ||
Available for sale, one year or less, fair value | ||
Held to maturity, after one year through five years, amortized cost | 686,000 | 500,000 |
Held to maturity, after one year through five years, fair value | 678,000 | 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 | 2,000,000 | |
Held to maturity, after five years through ten years, amortized cost | 9,346,000 | 8,573,000 |
Held to maturity, after five years through ten years, fair value | 9,073,000 | 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 | 10,440,000 | 12,014,000 |
Held to maturity, after ten years, fair value | 10,098,000 | 11,475,000 |
Available for sale, after ten years, amortized cost | 500,000 | |
Available for sale, after ten years, fair value | 500,000 | |
Held to maturity, no single maturity, amortized cost | ||
Held to maturity, no single maturity, fair value | ||
Available for sale, no single maturity, amortized cost | 66,000 | 89,000 |
Available for sale, no single maturity, fair value | 66,000 | 87,000 |
Held to maturity, amortized cost | 21,281,594 | 22,622,835 |
Held to maturity, fair value | 20,655,700 | 21,797,695 |
Available for sale, amortized cost | 2,066,000 | 2,589,000 |
Available for sale, fair value | $ 2,066,000 | $ 2,595,000 |
Note 10 - Investment Securiti48
Note 10 - Investment Securities - Securities with Gross Unrealized Losses (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Mar. 31, 2017 |
Securities with unrealized losses, less than 12 months, fair value | $ 3,786 | $ 21,338 |
Securities with unrealized losses, less than 12 months, gross unrealized losses | (24) | (868) |
Securities with unrealized losses, 12 months or greater, fair value | 17,281 | 303 |
Securities with unrealized losses, 12 months or greater, gross unrealized losses | (636) | (17) |
Securities with unrealized losses, fair value | 21,067 | 21,641 |
Securities with unrealized losses, gross unrealized losses | (660) | (885) |
US Government Agencies Debt Securities [Member] | ||
Securities with unrealized losses, less than 12 months, fair value | 1,981 | 19,553 |
Securities with unrealized losses, less than 12 months, gross unrealized losses | (19) | (864) |
Securities with unrealized losses, 12 months or greater, fair value | 17,281 | |
Securities with unrealized losses, 12 months or greater, gross unrealized losses | (636) | |
Securities with unrealized losses, fair value | 19,262 | 19,553 |
Securities with unrealized losses, gross unrealized losses | (655) | (864) |
Certificates of Deposit [Member] | ||
Securities with unrealized losses, less than 12 months, fair value | 998 | 249 |
Securities with unrealized losses, less than 12 months, gross unrealized losses | (2) | (1) |
Securities with unrealized losses, 12 months or greater, fair value | ||
Securities with unrealized losses, 12 months or greater, gross unrealized losses | ||
Securities with unrealized losses, fair value | 998 | 249 |
Securities with unrealized losses, gross unrealized losses | (2) | (1) |
Municipal Bonds [Member] | ||
Securities with unrealized losses, less than 12 months, fair value | 807 | 1,536 |
Securities with unrealized losses, less than 12 months, gross unrealized losses | (3) | (3) |
Securities with unrealized losses, 12 months or greater, fair value | ||
Securities with unrealized losses, 12 months or greater, gross unrealized losses | ||
Securities with unrealized losses, fair value | 807 | 1,536 |
Securities with unrealized losses, gross unrealized losses | $ (3) | (3) |
Mutual Fund [Member] | ||
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) | |
Securities with unrealized losses, fair value | 87 | |
Securities with unrealized losses, gross unrealized losses | (2) | |
Collateralized Mortgage Backed Securities [Member] | ||
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) | |
Securities with unrealized losses, fair value | 216 | |
Securities with unrealized losses, gross unrealized losses | $ (15) |
Note 11 - Agreement and Plan 49
Note 11 - Agreement and Plan of Reorganization (Details Textual) | 3 Months Ended |
Mar. 31, 2018shares | |
First Bank [Member] | Delanco Bancorp [Member] | Scenario, Forecast [Member] | |
Business Acquisition, Number of Acquirer Shares Convertible for Each Acquiree Share | 1.11 |