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Fair Value Measurements (Tables)
9 Months Ended
Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]  
Fair Value, Assets Measured on Recurring Basis The following table presents, by valuation hierarchy, assets that are measured at fair value on a recurring basis as of December 31, 2019 and March 31, 2019, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates:
Fair Value Measurements at December 31, 2019, Using
$ in thousandsQuoted Prices in Active Markets for Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable Inputs
(Level 3)
Total Fair
Value
Mortgage servicing rights$—  $—  $172  $172  
Investment securities
Available-for-sale:
Mortgage-backed securities:
Government National Mortgage Association—  3,719  —  3,719  
Federal Home Loan Mortgage Corporation—  9,926  —  9,926  
Federal National Mortgage Association—  24,317  —  24,317  
U.S. Government Agency Securities—  28,396  —  28,396  
Corporate bonds—  4,085  —  4,085  
Total available-for-sale securities—  70,443  —  70,443  
Total$—  $70,443  $172  $71,244  

Fair Value Measurements at March 31, 2019, Using
$ in thousandsQuoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total Fair
Value
Mortgage servicing rights$—  $—  $180  $180  
Investment securities
Available-for-sale:
Mortgage-backed securities:
Government National Mortgage Association—  4,382  —  4,382  
Federal Home Loan Mortgage Corporation—  11,025  —  11,025  
Federal National Mortgage Association—  26,608  —  26,608  
U.S. Government Agency securities—  32,853  —  32,853  
Corporate bonds—  4,977  —  4,977  
Total available-for-sale securities—  79,845  —  79,845  
Total$—  $79,845  $180  $80,479  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation The following table includes a rollforward of assets classified by the Company within Level 3 of the valuation hierarchy for the nine months ended December 31, 2019 and 2018:
$ in thousandsBeginning balance,
April 1, 2019
Total Realized/Unrealized Gains/(Losses) Recorded in Income (1)
Issuances / (Settlements)Transfers to/(from) Level 3Ending balance,
December 31, 2019
Change in Unrealized Gains/(Losses) Related to Instruments Held at December 31, 2019
Mortgage servicing rights180  (8) —  —  172  (7) 

$ in thousandsBeginning balance,
April 1, 2018
Total Realized/Unrealized Gains/(Losses) Recorded in Income (1)
Issuances / (Settlements)Transfers to/(from) Level 3Ending balance,
December 31, 2018
Change in Unrealized Gains/(Losses) Related to Instruments Held at December 31, 2018
Mortgage servicing rights18128  —  —  209  26  
Fair Value, Assets Measured on Recurring Basis, Valuation Techniques For Level 3 assets measured at fair value on a recurring basis as of December 31, 2019 and March 31, 2019, the significant unobservable inputs used in the fair value measurements were as follows:
$ in thousandsFair Value
December 31, 2019
Valuation TechniqueSignificant Unobservable InputsSignificant Unobservable Input Value
Mortgage servicing rights  172  Discounted Cash Flow  
Weighted Average Constant Prepayment Rate(1)
9.41 %
Option Adjusted Spread ("OAS") applied to Treasury curve 1200 basis points  

$ in thousandsFair Value
March 31, 2019
Valuation TechniqueSignificant Unobservable InputsSignificant Unobservable Input Value
Mortgage servicing rights  180  Discounted Cash Flow  
Weighted Average Constant Prepayment Rate(1)
11.19 %
Option Adjusted Spread ("OAS" applied to Treasury curve  1000 basis points
(1) Represents annualized loan repayment rate assumptions
Fair Value Measurements, Nonrecurring The following table presents assets and liabilities that were measured at fair value on a non-recurring basis as of December 31, 2019 and March 31, 2019, and that are included in the Company’s Consolidated Statements of Financial Condition at these dates:
Fair Value Measurements at December 31, 2019, Using
Quoted Prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable InputsTotal Fair Value
$ in thousands(Level 1)(Level 2)(Level 3)
Impaired loans$—  $—  $1,314  $1,314  
Other real estate owned—  —  120  $120  
Fair Value Measurements at March 31, 2019, Using
Quoted Prices in Active Markets for Identical AssetsSignificant Other Observable InputsSignificant Unobservable InputsTotal Fair Value
$ in thousands(Level 1)(Level 2)(Level 3)
Impaired loans$—  $—  $2,027  $2,027  
Other real estate owned—  —  404  $404  
Fair Value, Assets Measured on Nonrecurring Basis, Valuation Techniques For Level 3 assets measured at fair value on a non-recurring basis as of December 31, 2019 and March 31, 2019, the significant unobservable inputs used in the fair value measurements were as follows:
$ in thousandsFair Value
December 31, 2019
Valuation TechniqueSignificant Unobservable InputsSignificant Unobservable Input Value
Impaired loans  $1,314  Appraisal of collateral  Appraisal adjustments  7.5% cost to sell  
Other real estate owned  120  Appraisal of collateral  Appraisal adjustments  7.5% cost to sell  

$ in thousandsFair Value March 31, 2019Valuation TechniqueSignificant Unobservable InputsSignificant Unobservable Input Value
Impaired loans  $2,027  Appraisal of collateral  Appraisal adjustments  7.5% cost to sell  
Other real estate owned  404  Appraisal of collateral  Appraisal adjustments  7.5% cost to sell