Condensed Parent Only Financial Information (Tables)

12 Months Ended

Mar. 31, 2013

Condensed Balance Sheets

Condensed Balance Sheets

	March 31,
	2013			2012
	(In thousands)
Assets
Cash and cash equivalents	$	2,976		$	2,584
Investment in subsidiaries		116,357			127,690
Loans receivable from non-bank subsidiaries		—			4,225
Other assets		541			632
Total assets	$	119,874		$	135,131
Liabilities
Loans payable	$	116,300		$	116,300
Accrued interest and fees payable		60,161			41,042
Other liabilities		3,277			7,339
Total liabilities		179,738			164,681
Stockholders’ Deficit
Total stockholders’ deficit		(59,864	)		(29,550	)
Total liabilities and stockholders’ deficit	$	119,874		$	135,131

Condensed Statements of Operations

Condensed Statements of Operations

	Year Ended March 31,
	2013			2012			2011
	(In thousands)
Interest income	$	5		$	7		$	10
Interest expense		19,119			17,498			14,983
Net interest expense		(19,114	)		(17,491	)		(14,973	)
Equity in net loss from subsidiaries		(14,781	)		(19,498	)		(26,707	)
Non-interest income		4			413			—
Loss from operations		(33,891	)		(36,576	)		(41,680	)
Non-interest expense		687			1,287			935
Loss before income taxes		(34,578	)		(37,863	)		(42,615	)
Income tax benefit		(406	)		(1,125	)		(1,437	)
Net loss		(34,172	)		(36,738	)		(41,178	)
Preferred stock dividends in arrears		(6,560	)		(6,278	)		(5,934	)
Preferred stock discount accretion		(7,412	)		(7,413	)		(7,412	)
Net loss available to common equity	$	(48,144	)	$	(50,429	)	$	(54,524	)

Condensed Statements of Cash Flows

Condensed Statements of Cash Flows

	Year Ended March 31,
	2013			2012			2011
	(In thousands)
Operating Activities
Net loss	$	(34,172	)	$	(36,738	)	$	(41,178	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Equity in net loss of subsidiaries		14,781			19,498			26,707
Other		15,558			17,205			17,589
Net cash provided by (used in) operating activities		(3,833	)		(35	)		3,118
Investing Activities
Proceeds from sales of investment securities available for sale		—			—			—
Net decrease in loans receivable from non-bank subsidiaries		4,225			—			375
Capital contribution to Bank subsidiary		—			—			(2,000	)
Capital contribution to non-Bank subsidiary		—			—			—
Net cash provided by (used in) investing activities		4,225			—			(1,625	)
Financing Activities
Issuance of treasury stock related to equity compensation plans		—			—			6
Purchase of remaining ESOP shares		—			—			(8	)
Net cash provided by (used in) financing activities		—			—			(2	)
Increase (decrease) in cash and cash equivalents		392			(35	)		1,491
Cash and cash equivalents at beginning of year		2,584			2,619			1,128
Cash and cash equivalents at end of year	$	2,976		$	2,584		$	2,619