Loans and Allowance for Credit Losses (Tables)

9 Months Ended

Dec. 31, 2024

Loans and Allowance for Credit Losses

Schedule of categories of loans

Categories of loans were as follows:

	December 31,		March 31,
	2024		2024
Real estate loans:
Residential	$	70,552,508	$	69,160,096
Multi-family		1,923,762		1,909,791
Commercial		24,076,150		24,001,533
Construction and land		1,601,808		3,087,855
Home equity line of credit (HELOC)		4,465,967		4,191,076
Commercial and industrial		4,409,370		4,889,602
Consumer		1,461,232		1,792,888
Total loans		108,490,797		109,032,841
Less:
Net deferred loan fees		325,331		308,214
Allowance for credit losses		915,129		855,455
Net loans	$	107,250,337	$	107,869,172

Schedule of allowance for credit losses based on portfolio segment

The following tables present the activity in the allowance for credit losses based on portfolio segment for the three months and nine months ended December 31, 2024 and December 31, 2023:

	Three Months Ended December 31, 2024
			Provision
			for
	Balance		(recovery of)						Balance
	September 30, 2024		credit losses		Charge-offs		Recoveries		December 31, 2024
Loans:
Real estate loans:
Residential	$	375,614	$	53,794	$	—	$	—	$	429,408
Multi-family		7,073		1,669		—		—		8,742
Commercial		330,798		20,613		—		—		351,411
Construction and land		61,141		(36,653)		—		—		24,488
Home equity line of credit (HELOC)		19,325		4,993		—		—		24,318
Commercial and industrial		46,987		(1,777)		—		—		45,210
Consumer		34,380		(3,127)		—		299		31,552
Total loans		875,318		39,512		—		299		915,129
Off-balance sheet commitments		55,797		21,420		—		—		77,217
Total allowance for credit losses	$	931,115	$	60,932	$	—	$	299	$	992,346

	Three Months Ended December 31, 2023
			Provision
			for
			(recovery
	Balance		of)						Balance
	September 30, 2023		credit losses		Charge-offs		Recoveries		December 31, 2023
Real estate loans:
Residential	$	402,870		16,610	$	—	$	—	$	419,480
Multi-family		—		—		—		—		—
Commercial		338,974		(3,576)		—		—		335,398
Construction and land		87,819		(29,476)		—		—		58,343
Home equity line of credit (HELOC)		—		—		—		—		—
Commercial and industrial		45,871		2,049		—		947		48,867
Consumer		43,771		(2,810)		—		200		41,161
Total loans	$	919,305	$	(17,203)	$	—	$	1,147	$	903,249
Off-balance sheet commitments		84,898		(14,848)		—		—		70,050
Total allowance for credit losses	$	1,004,203	$	(32,051)	$	—	$	1,147	$	973,299

	Nine Months Ended December 31, 2024
			Provision
			for
	Balance		(recovery of)						Balance
	March 31, 2024		credit losses		Charge-offs		Recoveries		December 31, 2024
Loans:
Real estate loans:
Residential	$	394,445	$	34,963	$	—	$	—	$	429,408
Multi-family		—		8,742		—		—		8,742
Commercial		333,596		17,815		—		—		351,411
Construction and land		46,672		(22,184)		—		—		24,488
Home equity line of credit (HELOC)		—		24,318		—		—		24,318
Commercial and industrial		41,764		1,803		—		1,643		45,210
Consumer		38,978		(8,426)		—		1,000		31,552
Total loans		855,455		57,031		—		2,643		915,129
Off-balance sheet commitments		56,091		21,126		—		—		77,217
Total allowance for credit losses	$	911,546	$	78,157	$	—	$	2,643	$	992,346

	Nine Months Ended December 31, 2023
					Provision
					for
			Effect of		(recovery
	Balance		adoption of		of)						Balance
	March 31, 2023		ASC 326		credit losses		Charge-offs		Recoveries		December 31, 2023
Real estate loans:
Residential	$	360,908	$	11,949	$	46,623	$	—	$	—	$	419,480
Multi-family		13,350		(13,350)		—		—		—		—
Commercial		166,345		137,324		20,994		—		10,735		335,398
Construction and land		43,631		94,031		(79,319)		—		—		58,343
Home equity line of credit (HELOC)		16,034		(16,034)		—		—		—		—
Commercial and industrial		34,110		23,741		(11,852)		—		2,868		48,867
Consumer		7,958		24,833		13,339		(5,551)		582		41,161
Total loans		642,336		262,494		(10,215)		(5,551)		14,185		903,249
Off-balance sheet commitments		—		98,654		(28,604)		—		—		70,050
Total allowance for credit losses	$	642,336	$	361,148	$	(38,819)	$	(5,551)	$	14,185	$	973,299

Schedule of allowance for credit losses and the recorded investment in loans by segment, disaggregated based on the evaluation method

The following tables present a breakdown of the allowance for credit losses and the recorded investment in loans by segment, disaggregated based on the evaluation method as of December 31, 2024 and March 31, 2024.

	Allowance for credit losses				Loans
	Ending balance, evaluated for credit losses				Ending balance, evaluated for credit losses
	Individually		Collectively		Individually		Collectively
December 31, 2024
Real estate loans:
Residential	$	47,692	$	381,716	$	403,887	$	70,148,621
Multi-family		—		8,742		48,804		1,874,958
Commercial		12,870		338,541		515,373		23,560,777
Construction and land		—		24,488		—		1,601,808
Home equity line of credit (HELOC)		—		24,318		—		4,465,967
Commercial and industrial		6,619		38,591		398,193		4,011,177
Consumer		—		31,552		—		1,461,232
Total loans	$	67,181	$	847,948	$	1,366,257	$	107,124,540

	Allowance for credit losses				Loans
	Ending balance, evaluated for credit losses				Ending balance, evaluated for credit losses
	Individually		Collectively		Individually		Collectively
March 31, 2024
Real estate loans:
Residential	$	37,008	$	357,437	$	561,319	$	68,598,777
Multi-family		—		—		—		1,909,791
Commercial		10,198		323,398		587,295		23,414,238
Construction and land		—		46,672		—		3,087,855
Home equity line of credit (HELOC)		—		—		—		4,191,076
Commercial and industrial		—		41,764		449,386		4,440,216
Consumer		—		38,978		—		1,792,888
Total loans	$	47,206	$	808,249	$	1,598,000	$	107,434,841

Summary of loan portfolio aging analysis of the recorded investment in loans

The following tables present the Company’s loan portfolio aging analysis of the recorded investment in loans as of December 31, 2024 and March 31, 2024:

	December 31, 2024
					90 Days								Total Loans >
	30-59 Days		60-89 Days		or Greater		Total				Total Loans		90 Days &
	Past Due		Past Due		Past Due		Past Due		Current		Receivable		Accruing
Real estate loans:
Residential	$	822,296	$	238,159	$	66,105	$	1,126,560	$	69,425,948	$	70,552,508	$	—
Multi-family		—		—		—		—		1,923,762		1,923,762		—
Commercial		48,983		—		—		48,983		24,027,167		24,076,150		—
Construction and land		—		—		—		—		1,601,808		1,601,808		—
Home equity line of credit (HELOC)		134,841		73,088		93,796		301,725		4,164,242		4,465,967		—
Commercial and industrial		97,300		—		—		97,300		4,312,070		4,409,370		—
Consumer		135,883		—		—		135,883		1,325,349		1,461,232		—
Total	$	1,239,303	$	311,247	$	159,901	$	1,710,451	$	106,780,346	$	108,490,797	$	—

	March 31, 2024
					90 Days								Total Loans >
	30-59 Days		60-89 Days		or Greater		Total				Total Loans		90 Days &
	Past Due		Past Due		Past Due		Past Due		Current		Receivable		Accruing
Real estate loans:
Residential	$	198,028	$	—	$	—	$	198,028	$	68,962,068	$	69,160,096	$	—
Multi-family		—		—		—		—		1,909,791		1,909,791		—
Commercial		—		—		—		—		24,001,533		24,001,533		—
Construction and land		—		—		—		—		3,087,855		3,087,855		—
Home equity line of credit (HELOC)		19,975		—		—		19,975		4,171,101		4,191,076		—
Commercial and industrial		—		—		—		—		4,889,602		4,889,602		—
Consumer		13,208		—		—		13,208		1,779,680		1,792,888		—
Total	$	231,211	$	—	$	—	$	231,211	$	108,801,630	$	109,032,841	$	—

Schedule of collateral type of collateral dependent loans by class

The following table presents the amortized cost basis and collateral type of collateral dependent loans by class as of December 31, 2024 and March 31, 2024:

	Real		Business
December 31, 2024	estate		assets		Total
Real estate loans:
Residential	$	—	$	—	$	—
Multi-family		—		—		—
Commercial		349,232		—		349,232
Construction and land		—		—		—
Home equity line of credit (HELOC)		—		—		—
Commercial and industrial		—		398,194		398,194
Consumer		—		—		—
	$	349,232	$	398,194	$	747,426
	Real		Business
March 31, 2024	estate		assets		Total
Real estate loans:
Residential	$	—	$	—	$	—
Multi-family		—		—		—
Commercial		407,805		—		407,805
Construction and land		—		—		—
Home equity line of credit (HELOC)		—		—		—
Commercial and industrial		—		449,386		449,386
Consumer		—		—		—
	$	407,805	$	449,386	$	857,191

Schedule of nonaccrual loans

Nonaccrual loans were as follows at December 31, 2024:

		Nonaccrual Loans	Nonaccrual Loans
	Without an		With an		Total
	Allowance		Allowance		Nonaccrual Loans
Real estate loans
Residential	$	487,506		$	487,506
Home equity line of credit (HELOC)		116,343			116,343
Commercial and industrial		14,909			14,909
Consumer		85,568			85,568
Total nonaccrual loans	$	704,326		$	704,326