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LEASES (Tables)

12 Months Ended

Mar. 31, 2021

LEASES

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

The table below presents the ROU assets and lease liabilities recorded in the consolidated balance sheet at the dates indicated (in thousands):

		March 31,				March 31,			Classification in the
Leases		2021				2020			consolidated balance sheets
Finance lease ROU assets		$	1,432			$	1,508		Financing lease ROU assets
Finance lease liability		$	2,329			$	2,369		Finance lease liability
Finance lease remaining lease term			18.68	years			19.68	years
Finance lease discount rate			7.16	%			7.16	%
Operating lease ROU assets		$	8,782			$	3,949		Prepaid expenses and other assets
Operating lease liabilities		$	9,201			$	4,046		Accrued expenses and other liabilities
Operating lease weighted-average remaining lease term			7.87	years			3.92	years
Operating lease weighted-average discount rate			1.77	%			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 at the dates indicated (in thousands):

		Year			Year
		ended			ended
		March 31,			March 31,
Lease Costs		2021			2020
Finance lease amortization of right-of-use asset		$	77		$	77
Finance lease interest on lease liability			168			171
Operating lease costs			1,312			1,508
Variable lease costs			209			209
Total lease cost (1)		$	1,766		$	1,965

(1) 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 lease liabilities as of March 31, 2021 (in thousands):

Years Ending March 31:		Operating			Finance
		Leases			Lease
2022		$	1,448		$	212
2023			1,274			215
2024			1,290			219
2025			1,292			222
2026			1,040			226
Thereafter			3,527			3,174
Total minimum lease payments			9,871			4,268
Less: amount of lease payment representing interest			(670)			(1,939)
Lease liabilities		$	9,201		$	2,329

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- Definition

Tabular disclosure for lessee's capital and operating leases.

+ References

No definition available.

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X

- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980

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- References

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X

- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980

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