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Consolidated Statements of Financial Position (USD $)
In Thousands
Jun. 30, 2011
Mar. 31, 2011
Cash and cash equivalents:    
Cash and due from banks $ 33,493 $ 36,725
Money market investments 649 7,352
Total cash and cash equivalents 34,142 44,077
Restricted cash 6,214 0
Investment securities:    
Available-for-sale, at fair value 57,141 53,551
Held-to-maturity, at amortized cost (fair value of $14,415 and $18,124 at June 30, 2011 and March 31, 2011, respectively) 13,879 17,697
Total investments 71,020 71,248
Loans held-for-sale (“HFS”) 18,068 9,205
Loans receivable:    
Real estate mortgage loans 493,217 525,894
Commercial business loans 49,636 53,060
Consumer loans 1,297 1,349
Loans, net 544,150 580,303
Allowance for loan losses (23,764) (23,147)
Total loans receivable, net 520,386 557,156
Premises and equipment, net 10,719 11,040
Federal Home Loan Bank of New York (“FHLB-NY”) stock, at cost 2,799 3,353
Accrued interest receivable 2,409 2,854
Other assets 12,591 10,282
Total assets 678,348 709,215
Deposits:    
Savings 106,310 106,906
Non-Interest Bearing Checking 102,357 123,706
NOW 26,011 27,297
Money Market 67,479 74,329
Certificates of Deposit 189,466 228,460
Total deposits 491,623 560,698
Advances from the FHLB-NY and other borrowed money 101,571 112,641
Other liabilities 11,834 8,159
Total liabilities 605,028 681,498
Mezzanine Equity:    
55,000 Series C mandatorily convertible preferred stock,(par value $0.01, per share) with a liquidation preference of $1,000, issued and outstanding 51,432 0
Stockholders’ equity:    
Preferred stock (par value $0.01 per share, 2,000,000 shares authorized; 18,980 Series B shares, with a liquidation preference of $1,000.00 per share, issued and outstanding. 18,980 18,980
Common stock (par value $0.01 per share: 10,000,000 shares authorized; 2,524,691 shares issued; 2,488,922 and 2,484,263 shares outstanding at June 30, 2011 and March 31, 2011, respectively) 25 25
Additional paid-in capital 27,719 27,026
Accumulated Deficit (27,689) (21,464)
Non-controlling interest 3,438 4,038
Treasury stock, at cost (35,769 at June 30, 2011 and 40,428 shares at March 31, 2011, respectively10 and March 31, 2010, respectively) (506) (569)
Accumulated other comprehensive income (79) (319)
Total stockholders’ equity 21,888 27,717
Total liabilities, mezzanine equity and stockholders’ equity $ 678,348 $ 709,215