ALLOWANCE FOR LOAN LOSSES (Tables)

12 Months Ended

Mar. 31, 2023

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):

	Commercial		Commercial				Multi-		Real Estate
March 31, 2023	Business		Real Estate		Land		Family		Construction		Consumer		Unallocated		Total
Beginning balance	$	2,422	$	9,037	$	168	$	845	$	393	$	943	$	715	$	14,523
Provision for (recapture of) loan losses		701		(143)		(75)		(47)		371		148		(205)		750
Charge-offs		—		—		—		—		—		(17)		—		(17)
Recoveries		—		—		—		—		—		53		—		53
Ending balance	$	3,123	$	8,894	$	93	$	798	$	764	$	1,127	$	510	$	15,309
March 31, 2022
Beginning balance	$	2,416	$	14,089	$	233	$	638	$	294	$	852	$	656	$	19,178
Provision for (recapture of) loan losses		75		(5,052)		(65)		207		99		52		59		(4,625)
Charge-offs		(69)		—		—		—		—		(17)		—		(86)
Recoveries		—		—		—		—		—		56		—		56
Ending balance	$	2,422	$	9,037	$	168	$	845	$	393	$	943	$	715	$	14,523
March 31, 2021
Beginning balance	$	2,008	$	6,421	$	230	$	854	$	1,149	$	1,363	$	599	$	12,624
Provision for (recapture of) loan losses		398		7,336		3		(216)		(855)		(423)		57		6,300
Charge-offs		—		—		—		—		—		(124)		—		(124)
Recoveries		10		332		—		—		—		36		—		378
Ending balance	$	2,416	$	14,089	$	233	$	638	$	294	$	852	$	656	$	19,178

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
March 31, 2023	Impairment		Impairment		Total		Impairment		Impairment		Total
Commercial business	$	—	$	3,123	$	3,123	$	79	$	232,789	$	232,868
Commercial real estate		—		8,894		8,894		100		564,396		564,496
Land		—		93		93		—		6,437		6,437
Multi-family		—		798		798		—		55,836		55,836
Real estate construction		—		764		764		—		47,762		47,762
Consumer		6		1,121		1,127		450		101,007		101,457
Unallocated		—		510		510		—		—		—
Total	$	6	$	15,303	$	15,309	$	629	$	1,008,227	$	1,008,856
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 changes in the allowance for unfunded loan commitments

Changes in the allowance for unfunded loan commitments were as follows for the years indicated (in thousands):

	Year Ended March 31,
	2023		2022		2021
Beginning balance	$	424	$	509	$	474
Net change in allowance for unfunded loan commitments		(17)		(85)		35
Ending balance	$	407	$	424	$	509

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
March 31, 2023	Past Due		Past Due		Non-accrual		accrual		Current		Receivable
Commercial business	$	1,967	$	1,569	$	97	$	3,633	$	229,235	$	232,868
Commercial real estate		—		—		100		100		564,396		564,496
Land		—		—		—		—		6,437		6,437
Multi-family		—		—		—		—		55,836		55,836
Real estate construction		—		—		—		—		47,762		47,762
Consumer		11		—		86		97		101,360		101,457
Total	$	1,978	$	1,569	$	283	$	3,830	$	1,005,026	$	1,008,856
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
March 31, 2023	Pass		Mention		Substandard		Doubtful		Loss		Receivable
Commercial business	$	231,384	$	1,367	$	117	$	—	$	—	$	232,868
Commercial real estate		544,426		17,626		2,444		—		—		564,496
Land		6,437		—		—		—		—		6,437
Multi-family		55,694		142		—		—		—		55,836
Real estate construction		47,762		—		—		—		—		47,762
Consumer		101,371		—		86		—		—		101,457
Total	$	987,074	$	19,135	$	2,647	$	—	$	—	$	1,008,856
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

	Recorded		Recorded
	Investment		Investment
	with		with						Related
	No Specific		Specific		Total		Unpaid		Specific
	Valuation		Valuation		Recorded		Principal		Valuation
March 31, 2023	Allowance		Allowance		Investment		Balance		Allowance
Commercial business	$	79	$	—	$	79	$	127	$	—
Commercial real estate		100		—		100		162		—
Consumer		355		95		450		442		6
Total	$	534	$	95	$	629	$	731	$	6
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

	Year ended				Year ended				Year ended
	March 31, 2023				March 31, 2022				March 31, 2021
			Interest				Interest				Interest
			Recognized				Recognized				Recognized
	Average		on		Average		on		Average		on
	Recorded		Impaired		Recorded		Impaired		Recorded		Impaired
	Investment		Loans		Investment		Loans		Investment		Loans
Commercial business	$	90	$	—	$	110	$	—	$	130	$	—
Commercial real estate		111		—		660		16		2,008		61
Land		—		—		—		—		713		40
Multi-family		—		—		—		—		1,313		77
Consumer		475		24		514		24		494		29
Total	$	676	$	24	$	1,284	$	40	$	4,658	$	207

Schedule of TDRs by interest accrual status

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

	March 31, 2023						March 31, 2022
	Accrual		Non-accrual		Total		Accrual		Non-accrual		Total
Commercial business	$	—	$	79	$	79	$	—	$	100	$	100
Commercial real estate		—		100		100		—		122		122
Land		—		—		—		—		—		—
Multi-family		—		—		—		—		—		—
Consumer		450		—		450		495		—		495
Total	$	450	$	179	$	629	$	495	$	222	$	717