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JUNIOR SUBORDINATED DEBENTURES (Details) - USD ($) $ in Thousands | 3 Months Ended |
--- | --- | ---
Jun. 30, 2020 | Mar. 31, 2020
JUNIOR SUBORDINATED DEBENTURES |  |  |
Amount Outstanding |  | $ 27,836 |
Fair value adjustment |  | (1,152) |
Total Debentures |  | $ 26,684 | $ 26,662
Riverview Bancorp Statutory Trust I |  |  |
JUNIOR SUBORDINATED DEBENTURES |  |  |
Issuance Date |  | 12/2005 |
Amount Outstanding |  | $ 7,217 |
Rate Type | [1] | Variable |
Initial Rate |  | 5.88% |
Current Rate |  | 1.67% |
Maturity Date |  | 3/2036 |
Riverview Bancorp Statutory Trust II |  |  |
JUNIOR SUBORDINATED DEBENTURES |  |  |
Issuance Date |  | 06/2007 |
Amount Outstanding |  | $ 15,464 |
Rate Type | [2] | Variable |
Initial Rate |  | 7.03% |
Current Rate |  | 1.66% |
Maturity Date |  | 9/2037 |
Merchants Bancorp Statutory Trust I |  |  |
JUNIOR SUBORDINATED DEBENTURES |  |  |
Issuance Date |  | 06/2003 |
Amount Outstanding |  | $ 5,155 |
Rate Type | [3] | Variable |
Initial Rate |  | 4.16% |
Current Rate |  | 3.38% |
Maturity Date |  | 6/2033 |
[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%.

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