XML 19 R4.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2017
INTEREST AND DIVIDEND INCOME:      
Interest and fees on loans receivable $ 44,187 $ 39,659 $ 31,609
Interest on investment securities - taxable 4,456 4,648 3,550
Interest on investment securities - nontaxable 146 95 25
Other interest and dividends 329 558 443
Total interest and dividend income 49,118 44,960 35,627
INTEREST EXPENSE:      
Interest on deposits 996 1,208 1,151
Interest on borrowings 1,819 1,141 718
Total interest expense 2,815 2,349 1,869
Net interest income 46,303 42,611 33,758
Provisions for loan losses 50    
Net interest income after provision for loan losses 46,253 42,611 33,758
NON-INTEREST INCOME:      
Net gains on sales of loans held for sale [1] 317 641 656
BOLI [1] 734 819 760
Other, net 317 317 433
Total non-interest income, net 11,858 11,004 10,014
NON-INTEREST EXPENSE:      
Salaries and employee benefits 22,320 21,743 19,356
Occupancy and depreciation 5,334 5,454 4,819
Data processing 2,467 2,313 2,111
Amortization of CDI 183 232 27
Advertising and marketing 769 747 754
FDIC insurance premium 326 476 356
State and local taxes 651 605 609
Telecommunications 353 417 317
Professional fees 1,426 1,181 1,628
Litigation settlement 0 0 500
Other 1,870 2,450 2,504
Total non-interest expense 35,699 35,618 32,981
INCOME BEFORE INCOME TAXES 22,412 17,997 10,791
PROVISION FOR INCOME TAXES 5,146 7,755 3,387
NET INCOME $ 17,266 $ 10,242 $ 7,404
Earnings per common share:      
Basic (in dollars per share) $ 0.76 $ 0.45 $ 0.33
Diluted (in dollars per share) $ 0.76 $ 0.45 $ 0.33
Weighted average number of common shares outstanding:      
Basic (in shares) 22,588,395 22,531,480 22,478,306
Diluted (in shares) 22,659,594 22,623,455 22,548,340
Fees and service charges      
NON-INTEREST INCOME:      
Non-interest income $ 6,699 $ 5,779 $ 5,177
Asset management fees      
NON-INTEREST INCOME:      
Non-interest income $ 3,791 $ 3,448 $ 2,988
[1] Not within the scope of ASC 606