LEASES (Tables)

6 Months Ended

Sep. 30, 2020

Schedule of lease right-of-use assets and lease liabilities

The table below presents the lease right-of-use assets and lease liabilities recorded in the consolidated balance sheet for the periods indicated (in thousands):


	September 30,			March 31,			Classification in the
Leases	2020			2020			consolidated balance sheets
Finance lease ROU assets	$	1,470		$	1,508		Financing lease ROU assets
Finance lease liability	$	2,350		$	2,369		Finance lease liability
Finance lease remaining lease term		19.18	years		19.68	years
Finance lease discount rate		7.16	%		7.16	%

Operating lease ROU assets	$	9,090		$	3,949		Prepaid expenses and other assets
Operating lease liabilities	$	9,511		$	4,046		Accrued expenses and other liabilities
Operating lease weighted-average remaining lease term		8.40	years		3.92	years
Operating lease weighted-average discount rate		1.84	%		2.77	%

Schedule of lease costs for finance and operating leases

The table below presents certain information related to the lease costs for operating leases, which are recorded in occupancy and depreciation in the accompanying consolidated statements of income, for the periods indicated (in thousands):


	Three Months Ended			Six Months Ended
	September 30, 2020			September 30, 2020
Lease Costs
Finance lease amortization of right-of-use asset	$	19	$	38
Finance lease interest on lease liability		42		85
Operating lease costs		302		651
Variable lease costs		52		105
Total lease cost (1)	$	415	$	879

⁽¹⁾

income related to sub-lease activity is not significant and not presented herein.


	Three months ended		Six months ended
Lease Costs	September 30, 2019		September 30, 2019
Finance lease amortization of right-of-use asset	$	19	$	38
Finance lease interest on lease liability		43		86
Operating lease costs		396		791
Variable lease costs		52		105
Total lease cost (1)	$	510	$	1,020

income related to sub-lease activity is not significant and not presented herein.

Schedule of reconciliation of the undiscounted cash flows related to the Company's lease liabilities

The following table reconciles the undiscounted cash flows for the periods presented related to the Company’s operating lease liabilities as of September 30, 2020 (in thousands):


Year Ending March 31:	Operating Leases		Finance Lease
Remaining of 2021	$	685	$	105
2022		1,374		212
2023		1,200		215
2024		1,216		219
2025		1,218		222
Thereafter		4,555		3,400
Total minimum lease payments		10,248		4,373
Less: amount of lease payment representing interest		(737)		(2,023)
Lease liabilities	$	9,511	$	2,350