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LEASES (Tables) | 9 Months Ended
--- | ---
Dec. 31, 2023
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 |  | 2023 |  | 2023 |  | consolidated balance sheets
Finance lease ROU assets | ​ | $ | 1,221 |  | $ | 1,278 |  | Financing lease ROU assets
Finance lease liability | ​ | $ | 2,184 |  | $ | 2,229 |  | Finance lease liability
Finance lease remaining lease term | ​ |  | 15.93 | years |  | 16.68 | years | ​
Finance lease discount rate | ​ |  | 7.16 | % |  | 7.16 | % |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease ROU assets | ​ | $ | 5,788 |  | $ | 6,705 |  | Prepaid expenses and other assets
Operating lease liabilities | ​ | $ | 6,105 |  | $ | 7,064 |  | Accrued expenses and other liabilities
Operating lease weighted-average remaining lease term | ​ |  | 5.53 | years |  | 6.15 | years | ​
Operating lease weighted-average discount rate | ​ |  | 1.75 | % |  | 1.78 | % |
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, 2023 |  | December 31, 2022
Finance lease amortization of right-of-use asset | ​ | $ | 20 | ​ | $ | 20
Finance lease interest on lease liability | ​ |  | 39 | ​ |  | 41
Operating lease costs | ​ |  | 283 | ​ |  | 283
Variable lease costs | ​ |  | 53 | ​ |  | 52
Total lease cost (1) | ​ | $ | 395 | ​ | $ | 396
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine months ended | ​ | Nine months ended
Lease Costs |  | December 31, 2023 |  | December 31, 2022
Finance lease amortization of ROU asset | ​ | $ | 58 | ​ | $ | 58
Finance lease interest on lease liability | ​ |  | 119 | ​ |  | 122
Operating lease costs | ​ |  | 849 | ​ |  | 849
Variable lease costs | ​ |  | 157 | ​ |  | 157
Total lease cost (1) | ​ | $ | 1,183 | ​ | $ | 1,186
​
(1) | Income related to sub-lease activity is not significant and not presented herein.
​
Schedule of maturities of operating 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, 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Fiscal Year Ending March 31: |  | Operating |  | Finance
​ | ​ | Leases | ​ | Lease
Remainder of Fiscal 2024 | ​ | $ | 345 | ​ | $ | 56
2025 | ​ |  | 1,375 | ​ |  | 222
2026 | ​ |  | 1,125 | ​ |  | 226
2027 | ​ |  | 1,116 | ​ |  | 230
2028 | ​ |  | 899 | ​ |  | 232
Thereafter | ​ |  | 1,631 | ​ |  | 2,711
Total minimum lease payments | ​ |  | 6,491 | ​ |  | 3,677
Less: amount of lease payments representing interest | ​ |  | (386) | ​ |  | (1,493)
Lease liabilities | ​ | $ | 6,105 | ​ | $ | 2,184
​
Schedule of maturities of finance 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, 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Fiscal Year Ending March 31: |  | Operating |  | Finance
​ | ​ | Leases | ​ | Lease
Remainder of Fiscal 2024 | ​ | $ | 345 | ​ | $ | 56
2025 | ​ |  | 1,375 | ​ |  | 222
2026 | ​ |  | 1,125 | ​ |  | 226
2027 | ​ |  | 1,116 | ​ |  | 230
2028 | ​ |  | 899 | ​ |  | 232
Thereafter | ​ |  | 1,631 | ​ |  | 2,711
Total minimum lease payments | ​ |  | 6,491 | ​ |  | 3,677
Less: amount of lease payments representing interest | ​ |  | (386) | ​ |  | (1,493)
Lease liabilities | ​ | $ | 6,105 | ​ | $ | 2,184
​

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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