Leases

12 Months Ended

Mar. 31, 2026

Note 13 -LEASES

The Association leases office space under operating leases that expire at various dates through October 2030.

Rent expense, which is included in occupancy expenses on the consolidated statements of income, was $58,000 and $79,000 for the years ended March 31, 2026 and 2025, respectively.

The following table shows the future undiscounted lease payments required under the leases described above as of March 31, 2026:


12 Months Ending March 31,	Operating Leases
	(Dollars in thousands)
2027	$	43
2028		37
2029		37
2030		37
2031		24
Thereafter		32
Total undiscounted lease payments	$	210
Less: Imputed interest		(15	)
Net lease liability	$	195