XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
 3 Months Ended 6 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
INTEREST AND DIVIDEND INCOME:        
Interest and fees on loans receivable $ 11,346,000 $ 11,893,000 $ 22,874,000 $ 23,447,000
Interest on investment securities - taxable 505,000 860,000 1,160,000 1,738,000
Interest on investment securities - nontaxable 17,000 36,000 35,000 73,000
Other interest and dividends 81,000 93,000 118,000 180,000
Total interest and dividend income 11,949,000 12,882,000 24,187,000 25,438,000
INTEREST EXPENSE:        
Interest on deposits 657,000 660,000 1,515,000 1,011,000
Interest on borrowings 228,000 503,000 480,000 1,238,000
Total interest expense 885,000 1,163,000 1,995,000 2,249,000
Net interest income 11,064,000 11,719,000 22,192,000 23,189,000
Provision for loan losses 1,800,000   6,300,000  
Net interest income after provision for loan losses 9,264,000 11,719,000 15,892,000 23,189,000
NON-INTEREST INCOME:        
Net gains on sales of loans held for sale [1]   46,000 28,000 142,000
BOLI [1] 242,000 204,000 432,000 397,000
Other, net 31,000 77,000 64,000 144,000
Total non-interest income, net 2,819,000 3,169,000 5,442,000 6,305,000
NON-INTEREST EXPENSE:        
Salaries and employee benefits 5,379,000 5,697,000 10,571,000 11,412,000
Occupancy and depreciation 1,457,000 1,277,000 2,907,000 2,597,000
Data processing 697,000 669,000 1,358,000 1,349,000
Amortization of CDI 35,000 41,000 70,000 81,000
Advertising and marketing 110,000 298,000 239,000 508,000
FDIC insurance premium 84,000   132,000 80,000
State and local taxes 204,000 174,000 408,000 369,000
Telecommunications 85,000 76,000 171,000 162,000
Professional fees 321,000 263,000 641,000 588,000
Other 464,000 508,000 1,024,000 1,051,000
Total non-interest expense 8,836,000 9,003,000 17,521,000 18,197,000
INCOME BEFORE INCOME TAXES 3,247,000 5,885,000 3,813,000 11,297,000
PROVISION FOR INCOME TAXES 704,000 1,351,000 790,000 2,571,000
NET INCOME $ 2,543,000 $ 4,534,000 $ 3,023,000 $ 8,726,000
Earnings per common share:        
Basic $ 0.11 $ 0.20 $ 0.14 $ 0.39
Diluted $ 0.11 $ 0.20 $ 0.14 $ 0.38
Weighted average number of common shares outstanding:        
Basic 22,261,709 22,643,103 22,259,201 22,631,406
Diluted 22,276,312 22,702,696 22,276,308 22,694,067
Fees and service charges        
NON-INTEREST INCOME:        
Non-interest income $ 1,663,000 $ 1,752,000 $ 3,061,000 $ 3,389,000
Asset management fees        
NON-INTEREST INCOME:        
Non-interest income $ 883,000 $ 1,090,000 $ 1,857,000 $ 2,233,000
[1] Not within the scope of ASC 606