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BENEFIT PLANS (Tables)

12 Months Ended

Apr. 30, 2024

BENEFIT PLANS

Schedule of net periodic pension cost

Net periodic pension cost for 2024 and 2023 was comprised of the following components (in thousands):

​

​	​	​	​	​	​	​
​	​	Year Ended April 30,
​		2024			2023
Interest cost on projected benefit obligation	​	$	6	​	$	603
Expected return on assets	​		(69)	​		(1,123)
Plan expenses	​		152	​		106
Recognized net actuarial loss	​		2	​		372
Net periodic pension cost	​	$	(91)	​	$	(42)
Settlement and related expenses	​	​	247	​	​	7,597
Net periodic pension cost after settlement	​	​	338	​	​	7,555

Schedule of assumptions used in determining net periodic pension cost and the pension benefit

​

​	​	​	​	​	​
​	​	Year Ended April 30,
​		2024		2023
Discount rate used to determine net periodic pension cost		4.51	%	3.97	%
Discount rate used to determine pension benefit obligation		N/A	​	N/A	​
Expected long-term rate of return on assets used for pension cost on assets		7.75	%	7.75	%

Schedule of pension plan's benefit obligation and assets

​

​	​	​	​	​	​	​
​	​	April 30,
​		2024			2023
Change in benefit obligation:		​			​
Benefit obligation at beginning of year	​	$	283	​	$	17,964
Service cost	​	​	152	​	​	106
Interest cost	​		6	​		603
Actuarial gain	​		(126)	​		(1,667)
Benefits paid	​		(315)	​		(1,366)
Settlement	​	​	—	​	​	(15,357)
Benefit obligation at end of year	​	$	—	​	$	283
Change in plan assets:	​			​		​
Fair value of plan assets at beginning of year	​	$	1,030	​	$	18,054
Actual return on plan assets	​		(8)	​		(103)
Plan transfer	​	​	(547)	​	​	—
Benefits paid	​		(315)	​		(1,366)
Plan expenses	​		(160)	​		(198)
Settlement	​	​	—	​	​	(15,357)
Fair value of plan assets at end of year	​	$	—	​	$	1,030
Overfunded status	​	$	—	​	$	747

Schedule of accumulated other comprehensive income (loss), which have not yet been recognized as a component of net periodic pension costs

The following table summarizes the amounts recorded in accumulated other comprehensive income (loss), which have not yet been recognized as a component of net periodic pension costs (in thousands):

​

​	​	​	​	​	​	​
​	​	Year Ended April 30,
​		2024			2023
Pretax accumulated comprehensive income (loss)	​	$	—	​	$	138

Schedule of changes in accumulated other comprehensive income (loss) related to the pension plan

The following table summarizes the changes in accumulated other comprehensive income (loss) related to the pension plan for the years ended April 30, 2024 and 2023 (in thousands):

​

​	​	​	​	​	​	​
​	​	Pension Benefits
​		Pretax			Net of Tax
Accumulated comprehensive loss, May 1, 2022	​	$	8,350	​	$	4,573
Net actuarial gain	​		(372)	​		(302)
Amortization of net loss	​		(243)	​		(198)
Settlement	​	​	(7,597)	​	​	(5,243)
Accumulated comprehensive loss, April 30, 2023	​	$	138	​	$	(1,170)
Net actuarial loss	​	​	(2)	​	​	—
Amortization of net loss	​	​	111	​	​	78
Settlement and related expenses	​	​	(247)	​	​	(138)
Accumulated comprehensive income (loss), April 30, 2024	​	$	—	​	$	(1,230)

Schedule of restricted share award activity

​

​	​	​	​	​	​
​	​	​	​	Weighted Average
​	​	Number of	​	Grant Date Fair Value
Restricted share awards		Shares		Per Share
Non-vested as of May 1, 2022		21,500	​	​	8.98
Granted during 2023		14,600	​		11.17
Vested during 2023		(9,833)	​		8.09
Forfeited during 2023		—	​		—
Non-vested as of April 30, 2023		26,267	​	​	10.53
Granted during 2024		16,400	​		19.23
Vested during 2024		(12,199)	​		9.68
Forfeited during 2024		—	​	​	—
Non-vested as of April 30, 2024	​	30,468	​	​	15.55

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Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

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Tabular disclosure of benefit obligation and plan assets for defined benefit pension plan with projected benefit obligation in excess of plan assets.

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Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

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Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation.

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