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LEASES (Tables)

9 Months Ended

Dec. 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 sheets at the dates indicated (in thousands):

​

​	​	​	​	​	​	​	​	​
​		December 31,		​	March 31,			Classification in the
Leases		2021			2021			consolidated balance sheets
Finance lease ROU assets	​	$	1,374		$	1,432		Financing lease ROU assets
Finance lease liability	​	$	2,295		$	2,329		Finance lease liability
Finance lease remaining lease term	​		17.93	years		18.68	years	​
Finance lease discount rate	​		7.16	%		7.16	%
​	​	​	​	​	​	​	​	​
Operating lease ROU assets	​	$	7,800		$	8,782		Prepaid expenses and other assets
Operating lease liabilities	​	$	8,204		$	9,201		Accrued expenses and other liabilities
Operating lease weighted-average remaining lease term	​		7.30	years		7.87	years	​
Operating lease weighted-average discount rate	​		1.77	%		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):

​

​	​	​	​	​	​	​
​	​	Three months ended		​	Three months ended
Lease Costs		December 31, 2021			December 31, 2020
Finance lease amortization of right-of-use asset	​	$	20	​	$	19
Finance lease interest on lease liability	​		41	​		42
Operating lease costs	​		316	​		297
Variable lease costs	​		53	​		52
Total lease cost (1)	​	$	430	​	$	410

​

​	​	​	​	​	​	​
​	​	Nine months ended		​	Nine months ended
Lease Costs		December 31, 2021			December 31, 2020
Finance lease amortization of right-of-use asset	​	$	58	​	$	57
Finance lease interest on lease liability	​		124	​		127
Operating lease costs	​		946	​		948
Variable lease costs	​		158	​		157
Total lease cost (1)	​	$	1,286	​	$	1,289

(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 December 31, 2021 (in thousands):

​

​	​	​	​	​	​	​
Year Ended March 31:		Operating			Finance
​	​	Leases		​	Lease
Remaining of 2022	​	$	353	​	$	54
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	​		8,776	​		4,110
Less: amount of lease payment representing interest	​		(572)	​		(1,815)
Lease liabilities	​	$	8,204	​	$	2,295

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- 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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- 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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