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Office Properties and Equipment, Net Office Properties and Equipment, Net (Notes) | 12 Months Ended
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Mar. 31, 2017
Property, Plant and Equipment [Abstract] |
Office Properties and Equipment, Net | OFFICE PROPERTIES AND EQUIPMENT, NET The details of office properties and equipment as of March 31 are as follows:
$ in thousands | 2017 |  | 2016
Land | $ | 98 |  |  | $ | 98 |
Building and improvements | 9,806 |  |  | 9,783 |
Leasehold improvements | 6,547 |  |  | 6,530 |
Furniture, equipment, and other | 12,981 |  |  | 12,759 |
| 29,432 |  |  | 29,170 |
Less accumulated depreciation and amortization | (24,005 | ) |  | (23,187 | )
Office properties and equipment, net | $ | 5,427 |  |  | $ | 5,983 |
Depreciation and amortization charged to operations for fiscal years 2017 and 2016 amounted to $867 thousand and $1.4 million, respectively. During fiscal year 2016, Carver conducted a sale and leaseback transaction on its Crown Heights branch location with an unaffiliated third party as part of the Bank's ongoing facilities rationalization efforts. The Company recognized a $1.2 million gain on the sale and leaseback in the third quarter of fiscal year 2016. Carver did not finance the purchase and the gain was calculated utilizing the profit on sale in excess of the present value of the minimum lease payments in accordance with ASC 840. The remaining amount of profit on the sale of the property was deferred from gain recognition and will be amortized into income over the term of the lease. The deferred gain on the sale of the property is included in Other Liabilities on the Consolidated Statements of Financial Condition and totaled $606 thousand and $675 thousand as of March 31, 2017 and 2016, respectively.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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