ALLOWANCE FOR LOAN LOSSES (Tables)

9 Months Ended

Dec. 31, 2022

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
December 31, 2022	Business		Real Estate		Land		Family		Construction		Consumer		Unallocated		Total
Beginning balance	$	2,789	$	8,230	$	124	$	856	$	638	$	1,225	$	690	$	14,552
Provision for (recapture of) loan losses		101		(254)		(26)		(41)		206		(42)		56		—
Charge-offs		—		—		—		—		—		—		—		—
Recoveries		—		—		—		—		—		6		—		6
Ending balance	$	2,890	$	7,976	$	98	$	815	$	844	$	1,189	$	746	$	14,558
Nine months ended
December 31, 2022
Beginning balance	$	2,422	$	9,037	$	168	$	845	$	393	$	943	$	715	$	14,523
Provision for (recapture of) loan losses		468		(1,061)		(70)		(30)		451		211		31		—
Charge-offs		—		—		—		—		—		(16)		—		(16)
Recoveries		—		—		—		—		—		51		—		51
Ending balance	$	2,890	$	7,976	$	98	$	815	$	844	$	1,189	$	746	$	14,558
Three months ended
December 31, 2021
Beginning balance	$	2,261	$	11,795	$	232	$	530	$	231	$	841	$	610	$	16,500
Provision for (recapture of) loan losses		381		(2,178)		(66)		207		71		148		162		(1,275)
Charge-offs		(62)		—		—		—		—		(1)		—		(63)
Recoveries		—		—		—		—		—		11		—		11
Ending balance	$	2,580	$	9,617	$	166	$	737	$	302	$	999	$	772	$	15,173
Nine months ended
December 31, 2021
Beginning balance	$	2,416	$	14,089	$	233	$	638	$	294	$	852	$	656	$	19,178
Provision for (recapture of) loan losses		226		(4,472)		(67)		99		8		115		116		(3,975)
Charge-offs		(62)		—		—		—		—		(14)		—		(76)
Recoveries		—		—		—		—		—		46		—		46
Ending balance	$	2,580	$	9,617	$	166	$	737	$	302	$	999	$	772	$	15,173

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
December 31, 2022	Impairment		Impairment		Total		Impairment		Impairment		Total
Commercial business	$	—	$	2,890	$	2,890	$	84	$	238,656	$	238,740
Commercial real estate		—		7,976		7,976		106		562,074		562,180
Land		—		98		98		—		6,481		6,481
Multi-family		—		815		815		—		55,157		55,157
Real estate construction		—		844		844		—		51,153		51,153
Consumer		8		1,181		1,189		468		102,334		102,802
Unallocated		—		746		746		—		—		—
Total	$	8	$	14,550	$	14,558	$	658	$	1,015,855	$	1,016,513
March 31, 2022
Commercial business	$	—	$	2,422	$	2,422	$	100	$	227,991	$	228,091
Commercial real estate		—		9,037		9,037		122		582,715		582,837
Land		—		168		168		—		11,556		11,556
Multi-family		—		845		845		—		60,211		60,211
Real estate construction		—		393		393		—		24,160		24,160
Consumer		8		935		943		495		83,058		83,553
Unallocated		—		715		715		—		—		—
Total	$	8	$	14,515	$	14,523	$	717	$	989,691	$	990,408

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
December 31, 2022	Past Due		Past Due		Non-accrual		accrual		Current		Receivable
Commercial business	$	872	$	12,359	$	102	$	13,333	$	225,407	$	238,740
Commercial real estate		—		—		106		106		562,074		562,180
Land		—		—		—		—		6,481		6,481
Multi-family		—		—		—		—		55,157		55,157
Real estate construction		—		—		—		—		51,153		51,153
Consumer		2,738		—		46		2,784		100,018		102,802
Total	$	3,610	$	12,359	$	254	$	16,223	$	1,000,290	$	1,016,513
March 31, 2022
Commercial business	$	7,753	$	21,808	$	118	$	29,679	$	198,412	$	228,091
Commercial real estate		—		—		122		122		582,715		582,837
Land		—		—		—		—		11,556		11,556
Multi-family		—		—		—		—		60,211		60,211
Real estate construction		291		—		—		291		23,869		24,160
Consumer		9		—		51		60		83,493		83,553
Total	$	8,053	$	21,808	$	291	$	30,152	$	960,256	$	990,408

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
December 31, 2022	Pass		Mention		Substandard		Doubtful		Loss		Receivable
Commercial business	$	236,420	$	2,196	$	124	$	—	$	—	$	238,740
Commercial real estate		554,942		1,164		6,074		—		—		562,180
Land		6,481		—		—		—		—		6,481
Multi-family		55,012		145		—		—		—		55,157
Real estate construction		51,153		—		—		—		—		51,153
Consumer		102,756		—		46		—		—		102,802
Total	$	1,006,764	$	3,505	$	6,244	$	—	$	—	$	1,016,513
March 31, 2022
Commercial business	$	227,435	$	511	$	145	$	—	$	—	$	228,091
Commercial real estate		569,417		7,211		6,209		—		—		582,837
Land		11,556		—		—		—		—		11,556
Multi-family		60,138		73		—		—		—		60,211
Real estate construction		24,160		—		—		—		—		24,160
Consumer		83,502		—		51		—		—		83,553
Total	$	976,208	$	7,795	$	6,405	$	—	$	—	$	990,408

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
December 31, 2022	Allowance		Allowance		Investment		Balance		Allowance
Commercial business	$	84	$	—	$	84	$	131	$	—
Commercial real estate		106		—		106		167		—
Consumer		246		222		468		576		8
Total	$	436	$	222	$	658	$	874	$	8
March 31, 2022
Commercial business	$	100	$	—	$	100	$	143	$	—
Commercial real estate		122		—		122		178		—
Consumer		259		236		495		603		8
Total	$	481	$	236	$	717	$	924	$	8

	Three months ended				Three months ended
	December 31, 2022				December 31, 2021
			Interest				Interest
			Recognized				Recognized
	Average		on		Average		on
	Recorded		Impaired		Recorded		Impaired
	Investment		Loans		Investment		Loans
Commercial business	$	87	$	—	$	107	$	—
Commercial real estate		109		—		130		—
Consumer		471		5		511		6
Total	$	667	$	5	$	748	$	6

	Nine months ended				Nine months ended
	December 31, 2022				December 31, 2021
			Interest				Interest
			Recognized				Recognized
	Average		on		Average		on
	Recorded		Impaired		Recorded		Impaired
	Investment		Loans		Investment		Loans
Commercial business	$	92	$	—	$	112	$	—
Commercial real estate		114		—		795		16
Consumer		481		17		519		18
Total	$	687	$	17	$	1,426	$	34

Schedule of TDRs by interest accrual status

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

	December 31, 2022						March 31, 2022
	Accrual		Nonaccrual		Total		Accrual		Nonaccrual		Total
Commercial business	$	—	$	84	$	84	$	—	$	100	$	100
Commercial real estate		—		106		106		—		122		122
Consumer		468		—		468		495		—		495
Total	$	468	$	190	$	658	$	495	$	222	$	717