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JUNIOR SUBORDINATED DEBENTURES (Tables) | 3 Months Ended
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Jun. 30, 2023
JUNIOR SUBORDINATED DEBENTURES |
Schedule of summary of the terms and amounts outstanding of the debentures | The following table is a summary of the terms and the amounts outstanding of the Debentures at June 30, 2023 (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Issuance Trust |  | Issuance Date |  | Amount Outstanding |  | Rate Type |  | Initial Rate |  | Current Rate |  | Maturity Date
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Riverview Bancorp Statutory Trust I |  | 12/2005 | ​ | $ | 7,217 |  | Variable | (1) | 5.88 | % | 6.91 | % | 3/2036
Riverview Bancorp Statutory Trust II |  | 06/2007 | ​ |  | 15,464 |  | Variable | (2) | 7.03 | % | 6.90 | % | 9/2037
Merchants Bancorp Statutory Trust I (4) |  | 06/2003 | ​ |  | 5,155 |  | Variable | (3) | 4.16 | % | 8.64 | % | 6/2033
​ |  | ​ | ​ | ​ | 27,836 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value adjustment (4) |  | ​ | ​ | ​ | (896) |  |  |  |  |  |  |  |
Total Debentures | ​ | ​ | ​ | $ | 26,940 |  |  |  |  |  |  |  |
​
(1) | The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.36%.
(2) | The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.35%.
(3) | The trust preferred securities reprice quarterly based on the three-month LIBOR plus 3.10%.
(4) | Amount, net of accretion, attributable to a prior year’s business combination.

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- Definition Tabular disclosure of borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC uniform net capital rules for broker-dealers, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total. + References No definition available. + Details
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