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JUNIOR SUBORDINATED DEBENTURES (Details) - USD ($) $ in Thousands | 9 Months Ended |
--- | --- | ---
Dec. 31, 2020 | Mar. 31, 2020
JUNIOR SUBORDINATED DEBENTURES |  |  |
Amount Outstanding |  | $ 27,836 |
Fair value adjustment | [1] | (1,110) |
Total Debentures |  | $ 26,726 | $ 26,662
Riverview Bancorp Statutory Trust I |  |  |
JUNIOR SUBORDINATED DEBENTURES |  |  |
Issuance Date |  | Dec. 01, 2005 |
Amount Outstanding |  | $ 7,217 |
Rate Type | [2] | Variable |
Initial Rate |  | 5.88% |
Current Rate |  | 1.58% |
Maturity Date |  | 3/2036 |
Riverview Bancorp Statutory Trust II |  |  |
JUNIOR SUBORDINATED DEBENTURES |  |  |
Issuance Date |  | Jun. 01, 2007 |
Amount Outstanding |  | $ 15,464 |
Rate Type | [3] | Variable |
Initial Rate |  | 7.03% |
Current Rate |  | 1.57% |
Maturity Date |  | 9/2037 |
Merchants Bancorp Statutory Trust I |  |  |
JUNIOR SUBORDINATED DEBENTURES |  |  |
Issuance Date | [1] | Jun. 01, 2003 |
Amount Outstanding | [1] | $ 5,155 |
Rate Type | [1],[4] | Variable |
Initial Rate | [1] | 4.16% |
Current Rate | [1] | 3.35% |
Maturity Date | [1] | 6/2033 |
[1] | Amount, net of accretion, attributable to a prior year’s business combination
[2] | The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.36%.
[3] | The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.35%.
[4] | The trust preferred securities reprice quarterly based on the three-month LIBOR plus 3.10%.

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