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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
INTEREST AND DIVIDEND INCOME:        
Interest and fees on loans receivable $ 11,699 $ 11,182 $ 35,146 $ 33,261
Interest on investment securities - taxable 851 1,110 2,589 3,424
Interest on investment securities - nontaxable 27 37 100 110
Other interest and dividends 189 60 369 271
Total interest and dividend income 12,766 12,389 38,204 37,066
INTEREST EXPENSE:        
Interest on deposits 942 240 1,953 759
Interest on borrowings 332 416 1,570 1,126
Total interest expense 1,274 656 3,523 1,885
Net interest income 11,492 11,733 34,681 35,181
Provision for loan losses       50
Net interest income after provision for loan losses 11,492 11,733 34,681 35,131
NON-INTEREST INCOME:        
Net gains on sales of loans held for sale [1] 68 82 210 278
BOLI [1] 188 192 585 545
Other, net 110 62 254 267
Total non-interest income, net 3,163 2,729 9,468 8,438
NON-INTEREST EXPENSE:        
Salaries and employee benefits 5,941 5,794 17,353 16,655
Occupancy and depreciation 1,461 1,306 4,058 4,016
Data processing 637 621 1,986 1,874
Amortization of CDI 40 45 121 137
Advertising and marketing 181 151 689 609
FDIC insurance premium   85 81 246
State and local taxes 126 125 495 475
Telecommunications 84 85 246 266
Professional fees 267 449 855 1,120
Other 511 142 1,561 1,339
Total non-interest expense 9,248 8,803 27,445 26,737
INCOME BEFORE INCOME TAXES 5,407 5,659 16,704 16,832
PROVISION FOR INCOME TAXES 1,279 1,271 3,850 3,773
NET INCOME $ 4,128 $ 4,388 $ 12,854 $ 13,059
Earnings per common share:        
Basic (in dollars per share) $ 0.18 $ 0.19 $ 0.57 $ 0.58
Diluted (in dollars per share) $ 0.18 $ 0.19 $ 0.57 $ 0.58
Weighted average number of common shares outstanding:        
Basic (in shares) 22,665,712 22,598,712 22,642,883 22,582,956
Diluted (in shares) 22,718,255 22,663,919 22,701,415 22,658,153
Fees and service charges        
NON-INTEREST INCOME:        
Non-interest income $ 1,661 $ 1,458 $ 5,050 $ 4,544
Asset management fees        
NON-INTEREST INCOME:        
Non-interest income $ 1,136 $ 935 $ 3,369 $ 2,804
[1] Not within the scope of ASC 606