Fair Value Of Financial Instruments (Tables)

9 Months Ended

Dec. 31, 2023

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Carrying Amounts and Estimated Fair Values by Fair Value Hierarchy of Certain Financial Instruments

The carrying amounts and estimated fair values by fair value hierarchy of certain financial instruments are as follows:

(dollars in thousands)	Measurements at Reporting Date Using
	Carrying Amount		Level 1		Level 2		Level 3		Estimated Fair Value
December 31, 2023
Financial assets:
Loans, net	$	370,205	$	—	$	—	$	335,909	$	335,909
Financial liabilities:
Interest-bearing deposits	$	285,068	$	—	$	259,477	$	—	$	259,477
March 31, 2023
Financial assets:
Loans, net	$	348,337	$	—	$	—	$	316,169	$	316,169
Financial liabilities:
Interest-bearing deposits	$	317,704	$	—	$	272,270	$	—	$	272,270

Fair Value, Recurring

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Fair Value, Asset Measured on Recurring and Nonrecurring Basis

The Association does not have any other assets or liabilities measured at fair value on a recurring basis as of December 31, 2023 or March 31, 2023.

(dollars in thousands)	Fair Value Measurements at Reporting Date Using
	Estimated Fair Value		Level 1		Level 2		Level 3
December 31, 2023
Securities Available-for-sale
Mortgage Backed Securities	$	50,024	$	—	$	50,024	$	—
Municipal Bonds		7,292		—		7,292		—
Total	$	57,316	$	—	$	57,316	$	—
March 31, 2023
Securities Available-for-sale
Mortgage Backed Securities	$	50,136	$	—	$	50,136	$	—
Municipal Bonds		7,706		—		7,706		—
Total	$	57,842	$	—	$	57,842	$	—

Fair Value, Nonrecurring

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Fair Value, Asset Measured on Recurring and Nonrecurring Basis

The following table presents the fair value measurement of assets and liabilities measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2023 and March 31, 2023:

(dollars in thousands)	Fair Value Measurements at Reporting Date Using
	Estimated Fair Value		Level 1		Level 2		Level 3
December 31, 2023
Financial Assets
Individually evaluated loans	$	448	$	—	$	—	$	448
Total	$	448	$	—	$	—	$	448
March 31, 2023
Financial Assets
Impaired loans	$	629	$	—	$	—	$	629
Total	$	629	$	—	$	—	$	629