v3.25.2
LEASES (Tables)
3 Months Ended
Jun. 30, 2025
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

    

2025

    

2025

    

consolidated balance sheets

Finance lease ROU asset

$

1,106

 

$

1,125

 

Financing lease ROU asset

Finance lease liability

$

2,080

 

$

2,099

 

Finance lease liability

Finance lease remaining lease term

 

14.43

years

 

14.68

years

Finance lease discount rate

 

7.16

%  

 

7.16

%  

  

Operating lease ROU assets

$

4,437

 

$

4,245

 

Prepaid expenses and other assets

Operating lease liabilities

$

4,652

 

$

4,465

 

Accrued expenses and other liabilities

Operating lease weighted-average remaining lease term

 

4.49

years

 

4.65

years

Operating lease weighted-average discount rate

 

1.90

%  

 

1.67

%  

  

Schedule of lease costs for finance and operating leases

The table below presents certain information related to the lease costs for financing and 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, 2025

    

June 30, 2024

Finance lease amortization of ROU asset

$

19

$

19

Finance lease interest on lease liability

 

37

 

39

Operating lease costs

 

288

 

283

Variable lease costs

 

 

52

Total lease cost (1)

$

344

$

393

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

Schedule of maturities of operating lease liabilities

Fiscal Year Ending March 31:

    

Operating

    

Finance

Leases

Lease

Remainder of 2026

$

915

$

170

2027

 

1,219

 

230

2028

 

1,002

 

232

2029

 

787

 

232

2030

 

796

 

232

Thereafter

 

272

 

2,247

Total minimum lease payments

 

4,991

 

3,343

Less: amount of lease payments representing interest

 

(339)

 

(1,263)

Lease liabilities

$

4,652

$

2,080

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, 2025 (in thousands):

Fiscal Year Ending March 31:

    

Operating

    

Finance

Leases

Lease

Remainder of 2026

$

915

$

170

2027

 

1,219

 

230

2028

 

1,002

 

232

2029

 

787

 

232

2030

 

796

 

232

Thereafter

 

272

 

2,247

Total minimum lease payments

 

4,991

 

3,343

Less: amount of lease payments representing interest

 

(339)

 

(1,263)

Lease liabilities

$

4,652

$

2,080