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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
INTEREST AND DIVIDEND INCOME:        
Interest and fees on loans receivable $ 10,943 $ 9,994 $ 21,720 $ 19,783
Interest on investment securities - taxable 1,116 1,079 2,314 2,212
Interest on investment securities - nontaxable 36 14 73 28
Other interest and dividends 118 228 211 315
Total interest and dividend income 12,213 11,315 24,318 22,338
INTEREST EXPENSE:        
Interest on deposits 259 313 519 635
Interest on borrowings 352 277 710 545
Total interest expense 611 590 1,229 1,180
Net interest income 11,602 10,725 23,089 21,158
Provision for loan losses 250   50  
Net interest income after provision for loan losses 11,352 10,725 23,039 21,158
NON-INTEREST INCOME:        
Net gains on sales of loans held for sale [1] 44 157 196 382
BOLI [1] 174 204 353 411
Other, net 165 44 205 90
Total non-interest income, net 3,016 2,713 6,068 5,451
NON-INTEREST EXPENSE:        
Salaries and employee benefits 5,283 5,251 10,861 10,673
Occupancy and depreciation 1,351 1,412 2,710 2,758
Data processing 622 580 1,253 1,196
Amortization of CDI 46 58 92 116
Advertising and marketing 266 256 458 490
FDIC insurance premium 85 136 161 281
State and local taxes 182 177 350 331
Telecommunications 88 103 181 207
Professional fees 387 261 671 676
Other 605 525 1,197 1,205
Total non-interest expense 8,915 8,759 17,934 17,933
INCOME BEFORE INCOME TAXES 5,453 4,679 11,173 8,676
PROVISION FOR INCOME TAXES 1,224 1,620 2,502 2,963
NET INCOME $ 4,229 $ 3,059 $ 8,671 $ 5,713
Earnings per common share:        
Basic (in dollars per share) $ 0.19 $ 0.14 $ 0.38 $ 0.25
Diluted (in dollars per share) $ 0.19 $ 0.14 $ 0.38 $ 0.25
Weighted average number of common shares outstanding:        
Basic (in shares) 22,579,839 22,518,941 22,575,009 22,511,935
Diluted (in shares) 22,658,737 22,609,480 22,655,297 22,599,851
Fees and service charges        
NON-INTEREST INCOME:        
Fees and Commissions $ 1,690 $ 1,490 $ 3,445 $ 2,897
Asset management fees        
NON-INTEREST INCOME:        
Fees and Commissions $ 943 $ 818 $ 1,869 $ 1,671
[1] Not in the scope of ASC 606