LEASES (Tables)

9 Months Ended

Dec. 31, 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):


	December 31,			March 31,			Classification in the
Leases	2020			2020			consolidated balance sheets
Finance lease ROU assets	$	1,451		$	1,508		Financing lease ROU assets
Finance lease liability	$	2,340		$	2,369		Finance lease liability
Finance lease remaining lease term		18.93	years		19.68	years
Finance lease discount rate		7.16	%		7.16	%

Operating lease ROU assets	$	8,785		$	3,949		Prepaid expenses and other assets
Operating lease liabilities	$	9,209		$	4,046		Accrued expenses and other liabilities
Operating lease weighted-average remaining lease term		8.20	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			Nine months ended
Lease Costs	December 31, 2020			December 31, 2020
Finance lease amortization of right-of-use asset	$	19	$	57
Finance lease interest on lease liability		42		127
Operating lease costs		297		948
Variable lease costs		52		157
Total lease cost (1)	$	410	$	1,289

⁽¹⁾

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


	Three months ended		Nine months ended
Lease Costs	December 31, 2019		December 31, 2019
Finance lease amortization of right-of-use asset	$	19	$	58
Finance lease interest on lease liability		43		128
Operating lease costs		362		1,153
Variable lease costs		52		157
Total lease cost (1)	$	476	$	1,496

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 December 31, 2020 (in thousands):


Year Ending March 31:	Operating Leases		Finance Lease
Remaining of 2021	$	346	$	53
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		9,909		4,321
Less: amount of lease payment representing interest		(700)		(1,981)
Lease liabilities	$	9,209	$	2,340