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Non-interest Revenue and Expense | 12 Months Ended
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Mar. 31, 2024
Other Income and Expenses [Abstract] |
Other Non-interest Income and Expense | NON-INTEREST REVENUE AND EXPENSE ASC Topic 606, Revenue from Contracts with Customers ("Topic 606") does not apply to revenue associated with financial instruments, including revenue from loans and securities. In addition, certain non-interest income streams such as gains on sales of residential mortgage and SBA loans, income associated with servicing assets, and loan fees, including residential mortgage originations to be sold and prepayment and late fees charged across all loan categories are not in scope of the guidance. Topic 606 is applicable to non-interest revenue streams, such as depository fees, service charges and commission revenues. However, the recognition of these revenue streams did not change significantly upon adoption of Topic 606. The Company generally satisfies its performance obligations on contracts with customers as services are rendered, and the transaction prices are typically fixed and charged either on a periodic basis or based on activity. Because performance obligations are satisfied as services are rendered and the transaction prices are fixed, there is little judgment involved in applying Topic 606 that significantly affects the determination of the amount and timing of revenue from contracts with customers. Non-interest revenue streams in-scope of Topic 606 are discussed below. Depository fees and charges Depository fees and charges primarily relate to service fees on deposit accounts and fees earned from debit cards and check cashing transactions. Service fees on deposit accounts consist of ATM fees, NSF fees, account maintenance charges and other deposit related fees. The fees are recognized as revenue over the period the related service is provided, or as incurred for transaction-based fees in accordance with the fee schedules for the Bank's deposit products and services. Loan fees and service charges Loan fees and service charges primarily relate to program management fees and fees earned in accordance with the Bank's standard lending fees (such as inspection and late charges). These standard lending fees are recognized as revenue over the period the related service is provided. Other non-interest income Other non-interest income includes correspondent banking fees, revenue from the Bank's participation in JPMorgan Chase's Empowering Change program, and income associated with an advertising services agreement covering marketing and use of the Bank's office space with a third party. The revenue is recognized over the period the related service is provided. Interchange income The Company earns interchange fees from debit card holder transactions conducted through various payment networks. Interchange fees from cardholder transactions are recognized daily, concurrently with the transaction processing services provided by an outsource technology solution and are presented on a net basis. The following table presents non-interest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the years ended March 31, 2024 and 2023:
| Years Ended March 31,
$ in thousands | 2024 |  | 2023
Non-interest income |  |  |
In-scope of Topic 606 |  |  |
Depository fees and charges | $ | 2,208 |  |  | $ | 2,197 |
Loan fees and service charges | 389 |  |  | 466 |
Other non-interest income | 361 |  |  | 236 |
Non-interest income (in-scope of Topic 606) | 2,958 |  |  | 2,899 |
Non-interest income (out-of-scope of Topic 606) | 3,765 |  |  | 696 |
Total non-interest income | $ | 6,723 |  |  | $ | 3,595 |
The following table sets forth other non-interest income and expense totals exceeding 1% of the aggregate of total interest income and non-interest income for any of the years presented:
| Years Ended March 31,
$ in thousands | 2024 |  | 2023
Other non-interest income: |  |  |
BOLI income | $ | 459 |  |  | $ | 144 |
Other | 483 |  |  | 228 |
Total non-interest income | $ | 942 |  |  | $ | 372 |
Other non-interest expense: |  |  |
Advertising | $ | 376 |  |  | $ | 513 |
Legal expense | 498 |  |  | 442 |
Insurance and surety | 1,254 |  |  | 1,200 |
Audit expense | 727 |  |  | 573 |
Data lines / internet | 417 |  |  | 398 |
Retail expenses | 1,151 |  |  | 933 |
Operating chargeoffs and other losses | 497 |  |  | 132 |
Director's fees | 402 |  |  | 373 |
Other | 2,667 |  |  | 2,635 |
Total non-interest expense | $ | 7,989 |  |  | $ | 7,199 |

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- Definition The entire disclosure for other operating income and other operating expense items. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(d)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 + Details
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