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LEASES (Tables)

3 Months Ended

Jun. 30, 2024

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):

​

​	​	​	​	​	​	​	​	​
​		June 30,		​	March 31,			Classification in the
Leases		2024			2024			consolidated balance sheets
Finance lease ROU assets	​	$	1,182		$	1,202		Financing lease ROU assets
Finance lease liability	​	$	2,151		$	2,168		Finance lease liability
Finance lease remaining lease term	​		15.43	years		15.68	years	​
Finance lease discount rate	​		7.16	%		7.16	%
​	​	​	​	​	​	​	​	​
Operating lease ROU assets	​	$	5,169		$	5,479		Prepaid expenses and other assets
Operating lease liabilities	​	$	5,450		$	5,780		Accrued expenses and other liabilities
Operating lease weighted-average remaining lease term	​		5.16	years		5.34	years	​
Operating lease weighted-average discount rate	​		1.73	%		1.74	%

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		June 30, 2024			June 30, 2023
Finance lease amortization of ROU asset	​	$	19	​	$	19
Finance lease interest on lease liability	​		39	​		40
Operating lease costs	​		283	​		283
Variable lease costs	​		52	​		52
Total lease cost (1)	​	$	393	​	$	394

​

(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 June 30, 2024 (in thousands):

​

​	​	​	​	​	​	​
Fiscal Year Ending March 31:		Operating			Finance
​	​	Leases		​	Lease
Remainder of 2025	​	$	1,029	​	$	168
2026	​		1,125	​		226
2027	​		1,116	​		230
2028	​		899	​		232
2029	​		684	​		232
Thereafter	​		947	​		2,479
Total minimum lease payments	​		5,800	​		3,567
Less: amount of lease payments representing interest	​		(350)	​		(1,416)
Lease liabilities	​	$	5,450	​	$	2,151

​

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 June 30, 2024 (in thousands):

​

​	​	​	​	​	​	​
Fiscal Year Ending March 31:		Operating			Finance
​	​	Leases		​	Lease
Remainder of 2025	​	$	1,029	​	$	168
2026	​		1,125	​		226
2027	​		1,116	​		230
2028	​		899	​		232
2029	​		684	​		232
Thereafter	​		947	​		2,479
Total minimum lease payments	​		5,800	​		3,567
Less: amount of lease payments representing interest	​		(350)	​		(1,416)
Lease liabilities	​	$	5,450	​	$	2,151

​

X

- Definition

Tabular disclosure for lessee's capital and operating leases.

+ References

No definition available.

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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

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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

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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
-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

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