ALLOWANCE FOR LOAN LOSSES (Tables)

6 Months Ended

Sep. 30, 2021

ALLOWANCE FOR LOAN LOSSES

Schedule of reconciliation of the allowance for loan losses

The following tables present a reconciliation of the allowance for loan losses for the periods indicated (in thousands):

Three months ended	Commercial		Commercial				Multi-		Real Estate
September 30, 2021	Business		Real Estate		Land		Family		Construction		Consumer		Unallocated		Total
Beginning balance	$	2,202	$	12,942	$	237	$	607	$	197	$	712	$	693	$	17,590
Provision for (recapture of) loan losses		59		(1,147)		(5)		(77)		34		119		(83)		(1,100)
Charge-offs		—		—		—		—		—		(4)		—		(4)
Recoveries		—		—		—		—		—		14		—		14
Ending balance	$	2,261	$	11,795	$	232	$	530	$	231	$	841	$	610	$	16,500
Six months ended
September 30, 2021
Beginning balance	$	2,416	$	14,089	$	233	$	638	$	294	$	852	$	656	$	19,178
Provision for (recapture of) loan losses		(155)		(2,294)		(1)		(108)		(63)		(33)		(46)		(2,700)
Charge-offs		—		—		—		—		—		(13)		—		(13)
Recoveries		—		—		—		—		—		35		—		35
Ending balance	$	2,261	$	11,795	$	232	$	530	$	231	$	841	$	610	$	16,500
Three months ended
September 30, 2020
Beginning balance	$	2,011	$	11,323	$	243	$	879	$	692	$	1,281	$	647	$	17,076
Provision for (recapture of) loan losses		169		1,886		2		(134)		28		(116)		(35)		1,800
Charge-offs		—		—		—		—		—		(23)		—		(23)
Recoveries		—		—		—		—		—		13		—		13
Ending balance	$	2,180	$	13,209	$	245	$	745	$	720	$	1,155	$	612	$	18,866
Six months ended
September 30, 2020
Beginning balance	$	2,008	$	6,421	$	230	$	854	$	1,149	$	1,363	$	599	$	12,624
Provision for (recapture of) loan losses		162		6,788		15		(109)		(429)		(140)		13		6,300
Charge-offs		—		—		—		—		—		(88)		—		(88)
Recoveries		10		—		—		—		—		20		—		30
Ending balance	$	2,180	$	13,209	$	245	$	745	$	720	$	1,155	$	612	$	18,866

Schedule of impaired financing receivables

The following tables present an analysis of loans receivable and the allowance for loan losses, based on impairment methodology, at the dates indicated (in thousands):

	Allowance for Loan Losses						Recorded Investment in Loans
	Individually		Collectively				Individually		Collectively
	Evaluated		Evaluated				Evaluated		Evaluated
	for		for				for		for
September 30, 2021	Impairment		Impairment		Total		Impairment		Impairment		Total
Commercial business	$	—	$	2,261	$	2,261	$	110	$	206,599	$	206,709
Commercial real estate		—		11,795		11,795		133		566,910		567,043
Land		—		232		232		—		15,925		15,925
Multi-family		—		530		530		—		40,455		40,455
Real estate construction		—		231		231		—		13,621		13,621
Consumer		9		832		841		515		70,264		70,779
Unallocated		—		610		610		—		—		—
Total	$	9	$	16,491	$	16,500	$	758	$	913,774	$	914,532
March 31, 2021
Commercial business	$	—	$	2,416	$	2,416	$	120	$	265,025	$	265,145
Commercial real estate		—		14,089		14,089		1,468		541,999		543,467
Land		—		233		233		710		13,330		14,040
Multi-family		—		638		638		753		44,261		45,014
Real estate construction		—		294		294		—		16,990		16,990
Consumer		11		841		852		530		58,049		58,579
Unallocated		—		656		656		—		—		—
Total	$	11	$	19,167	$	19,178	$	3,581	$	939,654	$	943,235

Schedule of analysis of loans by aging category

The following tables present an analysis of loans by aging category at the dates indicated (in thousands):

							Total
			90 Days				Past
			and				Due and				Total
	30-89 Days		Greater				Non-				Loans
September 30, 2021	Past Due		Past Due		Non-accrual		accrual		Current		Receivable
Commercial business	$	1,811	$	95	$	172	$	2,078	$	204,631	$	206,709
Commercial real estate		—		—		133		133		566,910		567,043
Land		—		—		—		—		15,925		15,925
Multi-family		—		—		—		—		40,455		40,455
Real estate construction		—		—		—		—		13,621		13,621
Consumer		27		—		90		117		70,662		70,779
Total	$	1,838	$	95	$	395	$	2,328	$	912,204	$	914,532

March 31, 2021
Commercial business	$	98	$	175	$	182	$	455	$	264,690	$	265,145
Commercial real estate		—		—		144		144		543,323		543,467
Land		—		—		—		—		14,040		14,040
Multi-family		—		—		—		—		45,014		45,014
Real estate construction		—		—		—		—		16,990		16,990
Consumer		143		1		69		213		58,366		58,579
Total	$	241	$	176	$	395	$	812	$	942,423	$	943,235

Schedule of credit quality indicators

The following tables present an analysis of loans by credit quality indicators at the dates indicated (in thousands):

											Total
			Special								Loans
September 30, 2021	Pass		Mention		Substandard		Doubtful		Loss		Receivable
Commercial business	$	206,228	$	168	$	313	$	—	$	—	$	206,709
Commercial real estate		526,127		31,061		9,855		—		—		567,043
Land		15,925		—		—		—		—		15,925
Multi-family		40,404		43		8		—		—		40,455
Real estate construction		13,621		—		—		—		—		13,621
Consumer		70,689		—		90		—		—		70,779
Total	$	872,994	$	31,272	$	10,266	$	—	$	—	$	914,532
March 31, 2021
Commercial business	$	264,564	$	399	$	182	$	—	$	—	$	265,145
Commercial real estate		494,010		42,045		7,412		—		—		543,467
Land		14,040		—		—		—		—		14,040
Multi-family		44,941		49		24		—		—		45,014
Real estate construction		16,990		—		—		—		—		16,990
Consumer		58,510		—		69		—		—		58,579
Total	$	893,055	$	42,493	$	7,687	$	—	$	—	$	943,235

Schedule of total and average recorded investment in impaired loans

The following tables present the total and average recorded investment in impaired loans at the dates and for the periods indicated (in thousands):

	Recorded		Recorded
	Investment		Investment
	with		with						Related
	No Specific		Specific		Total		Unpaid		Specific
	Valuation		Valuation		Recorded		Principal		Valuation
September 30, 2021	Allowance		Allowance		Investment		Balance		Allowance
Commercial business	$	110	$	—	$	110	$	150	$	—
Commercial real estate		133		—		133		186		—
Land		—		—		—		—		—
Multi-family		—		—		—		—		—
Consumer		397		118		515		623		9
Total	$	640	$	118	$	758	$	959	$	9
March 31, 2021
Commercial business	$	120	$	—	$	120	$	157	$	—
Commercial real estate		1,468		—		1,468		1,556		—
Land		710		—		710		740		—
Multi-family		753		—		753		856		—
Consumer		278		252		530		643		11
Total	$	3,329	$	252	$	3,581	$	3,952	$	11

	Three months ended				Three months ended
	September 30, 2021				September 30, 2020
			Interest				Interest
			Recognized				Recognized
	Average		on		Average		on
	Recorded		Impaired		Recorded		Impaired
	Investment		Loans		Investment		Loans
Commercial business	$	112	$	—	$	132	$	—
Commercial real estate		793		—		2,356		15
Land		—		—		714		10
Multi-family		—		—		1,552		22
Consumer		518		6		485		10
Total	$	1,423	$	6	$	5,239	$	57

	Six months ended				Six months ended
	September 30, 2021				September 30, 2020
			Interest				Interest
			Recognized				Recognized
	Average		on		Average		on
	Recorded		Impaired		Recorded		Impaired
	Investment		Loans		Investment		Loans
Commercial business	$	115	$	—	$	134	$	—
Commercial real estate		1,018		16		2,364		30
Land		—		—		714		20
Multi-family		—		—		1,551		44
Consumer		522		12		467		16
Total	$	1,655	$	28	$	5,230	$	110

The cash basis interest income on impaired loans was not materially different than the interest recognized on impaired loans as shown in the above tables.

Schedule of TDRs by interest accrual status

The following table presents TDRs by interest accrual status at the dates indicated (in thousands):

	September 30, 2021						March 31, 2021
	Accrual		Nonaccrual		Total		Accrual		Nonaccrual		Total
Commercial business	$	—	$	110	$	110	$	—	$	120	$	120
Commercial real estate		—		133		133		1,324		144		1,468
Land		—		—		—		710		—		710
Multi-family		—		—		—		753		—		753
Consumer		515		—		515		530		—		530
Total	$	515	$	243	$	758	$	3,317	$	264	$	3,581