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JUNIOR SUBORDINATED DEBENTURES (Tables)
 12 Months Ended
Mar. 31, 2020
JUNIOR SUBORDINATED DEBENTURES  
Schedule of summary of the terms and amounts outstanding of the debentures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issuance Trust

    

Issuance Date

    

Amount Outstanding

    

Rate Type

    

Initial Rate

    

Current Rate

    

Maturity Date

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Riverview Bancorp Statutory Trust I

 

 

12/2005

 

$

7,217

 

Variable (1)

 

5.88

%  

2.10

%  

3/2036

Riverview Bancorp Statutory Trust II

 

 

06/2007

 

 

15,464

 

Variable (2)

 

7.03

%  

2.09

%  

9/2037

Merchants Bancorp Statutory Trust I (4)

 

 

06/2003

 

 

5,155

 

Variable (3) 

 

4.16

%  

4.33

%  

6/2033

 

 

 

 

 

 

27,836

 

 

 

 

 

 

 

 

Fair value adjustment (4)

 

 

 

 

 

(1,174)

 

  

 

  

 

  

 

  

Total Debentures

 

 

 

 

$

26,662

 

  

 

  

 

  

 

  

 

(1) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.36%.

(2) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.35%.

(3) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 3.10%.

(4) Amount, net of accretion, attributable to a prior year's business combination.