PROPERTY AND EQUIPMENT

12 Months Ended

Mar. 31, 2026

7. PROPERTY AND EQUIPMENT:

Property and equipment is summarized as follows (dollars in thousands):


	March 31, 2026		March 31, 2025

Leasehold improvements	$	14,591	$	14,508
Data processing equipment	4,635		5,425
Office furniture and other equipment	4,170		3,880
	23,396		23,813
Less accumulated depreciation and amortization	(18,246)		(17,629)
Property and equipment, net of accumulated depreciation and amortization	$	5,150	$	6,184

Depreciation expense on property and equipment was $2.4 million and $2.8 million for the twelve months ended March 31, 2026 and 2025, respectively.