LEASES (Tables)

9 Months Ended

Dec. 31, 2019

LEASES

Schedule of lease right-of-use assets and lease liabilities

The table below presents the lease right-of-use assets and lease liabilities recorded in the consolidated balance sheet at December 31, 2019 (in thousands):

				Classification in the
Leases				consolidated balance sheets
Finance lease right-of-use asset	$	1,528		Premises and equipment, net
Finance lease liability	$	2,378		Finance lease liability
Finance lease remaining lease term		19.93	years
Finance lease discount rate		7.16	%
Operating lease right-of-use assets	$	4,325		Prepaid expenses and other assets
Operating lease liabilities	$	4,419		Accrued expenses and other liabilities
Operating lease weighted-average remaining lease term		4.16	years
Operating lease weighted-average discount rate		2.77	%

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, for the periods indicated (in thousands):

	Three Months Ended		Nine Months Ended
	December 31, 2019		December 31, 2019
Lease Costs
Finance lease amortization of right-of-use asset	$	19	58
Finance lease interest on lease liability		43	128
Operating lease costs		362	1,153
Variable lease costs		52	157
Total lease cost (1)	$	476	1,496

(1) income related to sub-lease activity is not significant and not presented herein.

Schedule of reconciliation of the undiscounted cash flows related to the Company's 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, 2019 (in thousands):

Year Ending March 31:	Operating Leases		Finance Lease
Remaining of 2020	$	404	$	52
2021		1,011		208
2022		747		212
2023		573		215
2024		583		219
Thereafter		1,507		3,622
Total minimum lease payments		4,825		4,528
Less: amount of lease payment representing interest		(406)		(2,150)
Lease liabilities	$	4,419	$	2,378