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LEASES (Tables)

12 Months Ended

Mar. 31, 2022

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 (dollars in thousands):

​	​	​	​	​	​	​	​	​
​		March 31,		​	March 31,			Classification in the
Leases		2022			2021			consolidated balance sheets
Finance lease ROU assets	​	$	1,355		$	1,432		Financing lease ROU assets
Finance lease liability	​	$	2,283		$	2,329		Finance lease liability
Finance lease remaining lease term	​		17.68	years		18.68	years	​
Finance lease discount rate	​		7.16	%		7.16	%
​	​	​	​	​	​	​	​	​
Operating lease ROU assets	​	$	7,907		$	8,782		Prepaid expenses and other assets
Operating lease liabilities	​	$	8,306		$	9,201		Accrued expenses and other liabilities
Operating lease weighted-average remaining lease term	​		7.02	years		7.87	years	​
Operating lease weighted-average discount rate	​		1.81	%		1.77	%

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 ended		​	Year ended		​	Year ended
Lease Costs		March 31, 2022			March 31, 2021		​	March 31, 2020
Finance lease amortization of ROU asset	​	$	77	​	$	77	​	$	77
Finance lease interest on lease liability	​		165	​		168	​	​	171
Operating lease costs	​		1,266	​		1,312	​	​	1,508
Variable lease costs	​		209	​		209	​	​	209
Total lease cost (1)	​	$	1,717	​	$	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, 2022 (in thousands):

​

​	​	​	​	​	​	​
Year Ending March 31:		Operating			Finance
​	​	Leases		​	Lease
2023	​	$	1,352	​	$	215
2024	​		1,370	​		219
2025	​		1,375	​		222
2026	​		1,125	​		226
2027	​		1,116	​		230
Thereafter	​		2,531	​		2,944
Total minimum lease payments	​		8,869	​		4,056
Less: amount of lease payment representing interest	​		(563)	​		(1,773)
Lease liabilities	​	$	8,306	​	$	2,283

X

- Definition

Tabular disclosure for lessee's capital and operating leases.

+ References

No definition available.

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- 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=123408670&loc=SL77918686-209980

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- References

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- 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=123408670&loc=SL77918701-209980

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