Riverview Bancorp (RVSB) 10-Q 9 Nov 17 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2017	Nov. 08, 2017
Document and Entity Information:
Entity Registrant Name	RIVERVIEW BANCORP INC
Entity Central Index Key	1,041,368
Trading Symbol	rvsb
Current Fiscal Year End Date	--03-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		22,533,912
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2

RIVERVIEW BANCORP, INC. AND SUB

RIVERVIEW BANCORP, INC. AND SUBSIDIARY - CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
ASSETS
Cash and cash equivalents (including interest-earning accounts of $59,315 and $46,245)	$ 76,245	$ 64,613
Certificates of deposit held for investment	9,797	11,042
Loans held for sale	347	478
Investment securities:
Available for sale, at estimated fair value	200,584	200,214
Held to maturity, at amortized cost (estimated fair value of $47 and $66)	46	64
Loans receivable (net of allowance for loan losses of $10,617 and $10,528)	773,087	768,904
Real estate owned ("REO")	298	298
Prepaid expenses and other assets	4,227	3,815
Accrued interest receivable	3,111	2,941
Federal Home Loan Bank stock, at cost	1,181	1,181
Premises and equipment, net	15,740	16,232
Deferred income taxes, net	6,167	7,610
Mortgage servicing rights, net	406	398
Goodwill	27,076	27,076
Core deposit intangible ("CDI"), net	1,219	1,335
Bank owned life insurance ("BOLI")	28,149	27,738
TOTAL ASSETS	1,147,680	1,133,939
LIABILITIES:
Deposits	990,299	980,058
Accrued expenses and other liabilities	10,838	13,080
Advanced payments by borrowers for taxes and insurance	920	693
Junior subordinated debentures	26,438	26,390
Capital lease obligation	2,443	2,454
Total liabilities	1,030,938	1,022,675
COMMITMENTS AND CONTINGENCIES (See Note 13)
SHAREHOLDERS' EQUITY:
Serial preferred stock, $.01 par value; 250,000 authorized; issued and outstanding: none
Common stock, $.01 par value; 50,000,000 authorized September 30, 2017 - 22,533,912 issued and outstanding March 31, 2017 - 22,510,890 issued and outstanding	225	225
Additional paid-in capital	64,612	64,468
Retained earnings	53,034	48,335
Unearned shares issued to employee stock ownership plan ("ESOP")	(26)	(77)
Accumulated other comprehensive loss	(1,103)	(1,687)
Total shareholders' equity	116,742	111,264
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,147,680	$ 1,133,939

RIVERVIEW BANCORP, INC. AND SU3

RIVERVIEW BANCORP, INC. AND SUBSIDIARY - CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Statement of Financial Position [Abstract]
Interest-earning accounts included in cash	$ 59,315	$ 46,245
Fair value of mortgage-backed securities held to maturity	47	66
Loans receivable, allowance for loan losses	$ 10,617	$ 10,528
Serial preferred stock, par value per share	$ 0.01	$ 0.01
Serial preferred stock, shares authorized	250,000	250,000
Serial preferred stock, shares issued	0	0
Serial preferred stock, shares outstanding	0	0
Common stock, par value per share	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	22,533,912	22,510,890
Common stock, shares outstanding	22,533,912	22,510,890

RIVERVIEW BANCORP, INC. AND SU4

RIVERVIEW BANCORP, INC. AND SUBSIDIARY - CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
INTEREST AND DIVIDEND INCOME:
Interest and fees on loans receivable	$ 9,994	$ 7,631	$ 19,783	$ 15,071
Interest on investment securities - taxable	1,079	769	2,212	1,489
Interest on investment securities - nontaxable	14		28
Other interest and dividends	228	130	315	232
Total interest and dividend income	11,315	8,530	22,338	16,792
INTEREST EXPENSE:
Interest on deposits	313	279	635	560
Interest on borrowings	277	163	545	321
Total interest expense	590	442	1,180	881
Net interest income	10,725	8,088	21,158	15,911
Provision for loan losses	0	0	0	0
Net interest income after provision for loan losses	10,725	8,088	21,158	15,911
NON-INTEREST INCOME:
Fees and service charges	1,490	1,188	2,897	2,511
Asset management fees	818	727	1,671	1,549
Net gains on sales of loans held for sale	157	163	382	302
BOLI	204	190	411	381
BOLI death benefit in excess of cash surrender value		407		407
Other, net	44	(94)	90	(55)
Total non-interest income, net	2,713	2,581	5,451	5,095
NON-INTEREST EXPENSE:
Salaries and employee benefits	5,251	4,531	10,673	9,171
Occupancy and depreciation	1,412	1,225	2,758	2,362
Data processing	580	476	1,196	971
Amortization of CDI	58		116
Advertising and marketing	256	252	490	445
FDIC insurance premium	136	74	281	196
State and local taxes	177	146	331	285
Telecommunications	103	76	207	149
Professional fees	261	453	676	711
Litigation settlement		475		575
REO	3	35	5	50
Other	522	654	1,200	1,297
Total non-interest expense	8,759	8,397	17,933	16,212
INCOME BEFORE INCOME TAXES	4,679	2,272	8,676	4,794
PROVISION FOR INCOME TAXES	1,620	592	2,963	1,417
NET INCOME	$ 3,059	$ 1,680	$ 5,713	$ 3,377
Earnings per common share:
Basic (in dollars per share)	$ 0.14	$ 0.07	$ 0.25	$ 0.15
Diluted (in dollars per share)	$ 0.14	$ 0.07	$ 0.25	$ 0.15
Weighted average number of common shares outstanding:
Basic (in shares)	22,518,941	22,474,019	22,511,935	22,470,957
Diluted (in shares)	22,609,480	22,530,331	22,599,851	22,522,544

RIVERVIEW BANCORP, INC. AND SU5

RIVERVIEW BANCORP, INC. AND SUBSIDIARY - CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statements of Comprehensive Income
Net income	$ 3,059	$ 1,680	$ 5,713	$ 3,377
Other comprehensive income (loss):
Net unrealized holding gain (loss) from available for sale investment securities arising during the period, net of tax of ($105), $194, ($321) and ($50), respectively	191	(351)	584	90
Reclassification adjustment for other than temporary impairment of available for sale investment security included in income, net of tax of $0, ($47),$0 and ($47), respectively		85		85
Total comprehensive income, net	$ 3,250	$ 1,414	$ 6,297	$ 3,552

RIVERVIEW BANCORP, INC. AND SU6

RIVERVIEW BANCORP, INC. AND SUBSIDIARY - CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statements of Comprehensive Income
Tax effect of unrealized holding gain (loss) from available for sale securities	$ (105)	$ 194	$ (321)	$ (50)
Tax effect of reclassification adjustment of net gain from sale of available for sale investment securities included in income	$ 0	$ (47)	$ 0	$ (47)

RIVERVIEW BANCORP, INC. AND SU7

RIVERVIEW BANCORP, INC. AND SUBSIDIARY - CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings	Unearned Shares Issued to ESOP	Accumulated Other Comprehensive Income (Loss)	Total
Balance at Mar. 31, 2016	$ 225	$ 64,418	$ 42,728	$ (181)	$ 1,083	$ 108,273
Balance (in shares) at Mar. 31, 2016	22,507,890
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			3,377			3,377
Cash dividend on common stock ($0.04 & $0.045 per share)			(898)			(898)
Earned ESOP shares		7		52		59
Other comprehensive income, net					175	175
Balance at Sep. 30, 2016	$ 225	64,425	45,207	(129)	1,258	110,986
Balance (in shares) at Sep. 30, 2016	22,507,890
Balance at Mar. 31, 2017	$ 225	64,468	48,335	(77)	(1,687)	111,264
Balance (in shares) at Mar. 31, 2017	22,510,890
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			5,713			5,713
Cash dividend on common stock ($0.04 & $0.045 per share)			(1,014)			(1,014)
Exercise of stock options		102				102
Exercise of stock options (in shares)	23,022
Earned ESOP shares		42		51		93
Other comprehensive income, net					584	584
Balance at Sep. 30, 2017	$ 225	$ 64,612	$ 53,034	$ (26)	$ (1,103)	$ 116,742
Balance (in shares) at Sep. 30, 2017	22,533,912

RIVERVIEW BANCORP, INC. AND SU8

RIVERVIEW BANCORP, INC. AND SUBSIDIARY - CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Statement of Stockholders' Equity [Abstract]
Cash dividend per share	$ 0.045	$ 0.04

RIVERVIEW BANCORP, INC. AND SU9

RIVERVIEW BANCORP, INC. AND SUBSIDIARY - CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 5,713	$ 3,377
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,320	1,784
Provision for deferred income taxes	1,122	1,276
Expense related to ESOP	93	59
Increase in deferred loan origination fees, net of amortization	144	316
Origination of loans held for sale	(12,166)	(9,779)
Proceeds from sales of loans held for sale	12,567	9,490
Writedown of REO		30
Loss on impairment of investment security		132
Net gains on loans held for sale, sales and transfer of REO, sales ofinvestment securities and sales of premises and equipment	(382)	(297)
Income from BOLI	(411)	(381)
Changes in certain other assets and liabilities:
Prepaid expenses and other assets	(486)	(216)
Accrued interest receivable	(170)	(37)
Accrued expenses and other liabilities	(2,219)	866
Net cash provided by operating activities	5,125	6,620
CASH FLOWS FROM INVESTING ACTIVITIES:
Loan repayments (originations), net	13,982	(26,617)
Purchases of loans receivable	(18,122)
Principal repayments on investment securities available for sale	13,855	13,814
Purchases of investment securities available for sale	(14,024)	(21,464)
Proceeds from calls, maturities, and sales of investment securities available for sale		5,500
Principal repayments on investment securities held to maturity	18	6
Redemption of certificates of deposit held for investment	1,245	1,494
Purchases of premises and equipment and capitalized software	(133)	(186)
Proceeds from sales of REO and premises and equipment		22
Net cash used in investing activities	(3,179)	(27,431)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase in deposits	10,324	59,099
Dividends paid	(956)	(898)
Proceeds from borrowings	17,925	2,000
Repayment of borrowings	(17,925)	(2,000)
Principal payments on capital lease obligation	(11)	(11)
Net increase in advance payments by borrowers	227	228
Proceeds from exercise of stock options	102
Net cash provided by financing activities	9,686	58,418
NET INCREASE IN CASH AND CASH EQUIVALENTS	11,632	37,607
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	64,613	55,400
CASH AND CASH EQUIVALENTS, END OF PERIOD	76,245	93,007
Cash paid during the period for:
Interest	1,102	786
Income taxes	2,170	140
NONCASH INVESTING AND FINANCING ACTIVITIES:
Dividends declared and accrued in other liabilities	508	450
Other comprehensive income	905	272
Income tax effect related to other comprehensive income	$ (321)	$ (97)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Sep. 30, 2017
Basis Of Presentation [Abstract]
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Quarterly Reports on Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of financial condition, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America ("GAAP"). However, all adjustments that are, in the opinion of management, necessary for a fair presentation of the interim unaudited consolidated financial statements have been included. All such adjustments are of a normal recurring nature. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Riverview Bancorp, Inc. Annual Report on Form 10-K for the year ended March 31, 2017 ("2017 Form 10-K"). The unaudited consolidated results of operations for the six months ended September 30, 2017 are not necessarily indicative of the results which may be expected for the entire fiscal year ending March 31, 2018. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On February 17, 2017, Riverview Bancorp, Inc. and Riverview Community Bank completed the purchase and assumption transaction in which Riverview Community Bank purchased certain assets and assumed certain liabilities of MBank, the wholly-owned subsidiary of Merchants Bancorp (the "MBank transaction"). In addition, as part of the MBank transaction, Riverview Bancorp, Inc. assumed the obligations of Merchant Bancorp's trust preferred securities. The MBank transaction was accounted for as a business combination pursuant to GAAP. The results of operations of the acquired assets and assumed liabilities have been included in the Company's consolidated financial statements as of and for the period since the acquisition date. See Note 3 for additional discussion.

PRINCIPLES OF CONSOLIDATION

PRINCIPLES OF CONSOLIDATION	6 Months Ended
	Sep. 30, 2017
Principles Of Consolidation [Abstract]
PRINCIPLES OF CONSOLIDATION	2. PRINCIPLES OF CONSOLIDATION The accompanying unaudited consolidated financial statements include the accounts of Riverview Bancorp, Inc.; its wholly-owned subsidiary, Riverview Community Bank (the "Bank"); and the Bank's wholly-owned subsidiaries, Riverview Services, Inc. and Riverview Trust Company (the "Trust Company") (collectively referred to as the "Company"). All inter-company transactions and balances have been eliminated in consolidation.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	6 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
BUSINESS COMBINATIONS	3. BUSINESS COMBINATIONS On February 17, 2017, the Company acquired certain assets and assumed certain liabilities of Merchants Bancorp and its wholly-owned subsidiary, MBank. MBank provided community banking services to individuals and businesses from banking offices in the Portland, Oregon metropolitan area. As a result of the MBank transaction, the Company has increased its presence in the Portland, Oregon metropolitan area and further diversified its loan, customer and deposit base. Total consideration paid under the MBank transaction consisted of $12.1 million in cash. There were no transfers of common stock or other equity instruments in connection with the MBank transaction, and the Company did not obtain any equity interests in Merchants Bancorp or MBank. The acquired assets and assumed liabilities were recorded in the Company's consolidated balance sheets at their estimated fair values as of the February 17, 2017 transaction date, and the related results of operations have been included in the Company's consolidated statements of income since the transaction date. The excess of the consideration transferred over the fair value of the identifiable net assets acquired was recorded as goodwill. The goodwill arising from the transaction consists largely of the synergies and economies of scale expected from combining the operations of the Company and the acquired business. In most instances, determining the estimated fair values of the acquired assets and assumed liabilities requires the Company to estimate cash flows expected to result from those assets and liabilities and to discount those cash flows at the appropriate rate of interest. Differences may arise between contractually required payments and the expected cash flows at the acquisition date due to items such as estimated credit losses, prepayments or early withdrawals, and other factors. The most significant of those determinations relates to the valuation of acquired loans. For such loans, the excess of cash flows expected at acquisition over the estimated fair value is recognized as interest income over the remaining lives of the loans. In accordance with GAAP, there was no carry-over of MBank's previously established allowance for loan losses. Goodwill is expected to be fully deductible for income tax purposes as, under the terms of the MBank transaction, the Company purchased certain assets and assumed certain liabilities of MBank but did not acquire any equity or other ownership interests. The following table summarizes the fair value of consideration transferred, the estimated fair values of assets acquired and liabilities assumed as of the acquisition date, and the resulting goodwill relating to the transaction (in thousands): At February 17, 2017 Book Value Fair Value Adjustment Estimated Fair Value Cash consideration transferred $ 12,080 Recognized amounts of identifiable assets acquired and liabilities assumed Identifiable assets acquired Cash and cash equivalents $ 27,196 $ - $ 27,196 Loans receivable 115,283 (3,258 ) 112,025 CDI - 1,363 1,363 Premises and equipment 1,769 399 2,168 BOLI 2,113 - 2,113 Accrued interest receivable and other assets 431 90 521 Total identifiable assets acquired 146,792 (1,406 ) 145,386 Liabilities assumed Deposits 130,572 235 130,807 Junior subordinated debentures 5,155 (1,468 ) 3,687 Accrued expenses and other liabilities 293 23 316 Total liabilities assumed 136,020 (1,210 ) 134,810 Total identifiable net assets acquired $ 10,772 $ (196 ) 10,576 Goodwill recognized $ 1,504 The acquired loan portfolio was valued using Level 3 inputs (see Note 11) and included the use of present value techniques, including cash flow estimates and incorporated assumptions that the Company believes marketplace participants would use in estimating fair values. Credit discounts were included in the determination of the fair value of the loans acquired; therefore, an allowance for loan losses was not recorded at the acquisition date. Acquired loans are evaluated upon acquisition and classified as either purchased credit-impaired ("PCI") or purchased non-credit-impaired. PCI loans reflect credit deterioration since origination such that it is probable at acquisition that the Company will be unable to collect all contractually required payments. The Company determined there were no PCI loans acquired in connection with the MBank transaction. For purchased non-credit-impaired loans, the difference between the fair value and unpaid principal balance of the loan at the acquisition date is amortized or accreted to interest income over the life of the loans. Any subsequent deterioration in credit quality is recognized by recording an allowance for loan losses. CDI represents the value assigned to demand, interest checking, money market and savings accounts acquired as part of an acquisition. CDI represents the future economic benefit of the potential cost savings from acquiring core deposits as part of an acquisition compared to the cost of alternative funding sources. CDI is amortized to non-interest expense using an accelerated method based on an estimated runoff of related deposits over a period of ten years. CDI is evaluated for impairment and recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable, with any changes in estimated useful life accounted for prospectively over the revised remaining life.

STOCK PLANS AND STOCK-BASED COM

STOCK PLANS AND STOCK-BASED COMPENSATION	6 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK PLANS AND STOCK-BASED COMPENSATION	4. STOCK PLANS AND STOCK-BASED COMPENSATION In July 1998, shareholders of the Company approved the adoption of the 1998 Stock Option Plan ("1998 Plan"). The 1998 Plan was effective October 1998 and expired in October 2008. In addition, in July 2003, shareholders of the Company approved the adoption of the 2003 Stock Option Plan ("2003 Plan"). The 2003 Plan was effective in July 2003 and expired in July 2013. Accordingly, no further option awards may be granted under the 1998 Plan or the 2003 Plan; however, any awards granted prior to their expirations remain outstanding subject to their terms. Each option granted under the 1998 Plan or the 2003 Plan has an exercise price equal to the fair market value of the Company's common stock on the date of the grant, a maximum term of ten years and a vesting period from zero to five years. In July 2017, shareholders of the Company approved the 2017 Equity Incentive Plan ("2017 Plan"). The 2017 Plan provides for the grant of incentive stock options, non-qualified stock options, restricted stock and restricted stock units. The Company has reserved 1,800,000 shares of its common stock for issuance under the 2017 Plan. Six Months Ended September 30, 2017 Six Months Ended September 30, 2016 Number of Shares Weighted Average Exercise Price Number of Shares Weighted Average Exercise Price Balance, beginning of period 220,654 $ 4.74 223,654 $ 4.73 Options exercised (23,022 ) 4.43 - - Expired (15,000 ) 14.49 - - Balance, end of period 182,632 $ 3.98 223,654 $ 4.73 The following table presents information on stock options outstanding as of the dates shown, less estimated forfeitures: September 30, 2017 2016 Stock options fully vested and expected to vest: Number 182,632 223,654 Weighted average exercise price $ 3.98 $ 4.73 Aggregate intrinsic value (1) $ 817,000 $ 342,000 Weighted average contractual term of options (years) 3.20 3.84 Stock options fully vested and currently exercisable: Number 182,632 223,654 Weighted average exercise price $ 3.98 $ 4.73 Aggregate intrinsic value (1) $ 817,000 $ 342,000 Weighted average contractual term of options (years) 3.20 3.84 (1) This amount changes based on changes in the market value of the Company's stock. There was no stock-based compensation expense related to stock options for the six months ended September 30, 2017 and 2016. As of September 30, 2017, all outstanding stock options were fully vested, and there was no remaining unrecognized compensation expense. The total intrinsic value of stock options exercised was $67,000 for the six months ended September 30, 2017. There were -----no stock options exercised during the six months ended September 30, 2016. The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes stock option valuation model. There were no stock options granted during the six months ended September 30, 2017 and 2016.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
EARNINGS PER SHARE	5. EARNINGS PER SHARE Basic earnings per share ("EPS") is computed by dividing net income or loss applicable to common stock by the weighted average number of common shares outstanding during the period, without considering any dilutive items. Diluted EPS is computed by dividing net income or loss applicable to common stock by the weighted average number of common shares and common stock equivalents for items that are dilutive, net of shares assumed to be repurchased using the treasury stock method at the average share price for the Company's common stock during the period. Common stock equivalents arise from the assumed exercise of outstanding stock options. Shares owned by the Company's ESOP that have not been allocated are not considered to be outstanding for the purpose of computing basic and diluted EPS. As of September 30, 2017 and 2016, there were 24,633 and 49,266 shares, respectively, which had not been allocated under the Company's ESOP. For the three and six months ended September 30, 2017, stock options for 9,000 and 14,000 shares, respectively, of common stock were excluded in computing diluted EPS because they were antidilutive. For the three and six months ended September 30, 2016, stock options for 59,000 shares of common stock were excluded in computing diluted EPS because they were antidilutive. Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 Basic EPS computation: Numerator-net income $ 3,059,000 $ 1,680,000 $ 5,713,000 $ 3,377,000 Denominator-weighted average common shares outstanding 22,518,941 22,474,019 22,511,935 22,470,957 Basic EPS $ 0.14 $ 0.07 $ 0.25 $ 0.15 Diluted EPS computation: Numerator-net income $ 3,059,000 $ 1,680,000 $ 5,713,000 $ 3,377,000 Denominator-weighted average common shares outstanding 22,518,941 22,474,019 22,511,935 22,470,957 Effect of dilutive stock options 90,539 56,312 87,916 51,587 Weighted average common shares and common stock equivalents 22,609,480 22,530,331 22,599,851 22,522,544 Diluted EPS $ 0.14 $ 0.07 $ 0.25 $ 0.15

INVESTMENT SECURITIES

INVESTMENT SECURITIES	6 Months Ended
	Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	6. INVESTMENT SECURITIES The amortized cost and approximate fair value of investment securities consisted of the following at the dates indicated (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value September 30, 2017 Available for sale: Municipal securities $ 6,368 $ 15 $ (42 ) $ 6,341 Agency securities 22,404 22 (135 ) 22,291 Real estate mortgage investment conduits (1) 39,896 42 (281 ) 39,657 Residential mortgage-backed securities (1) 88,782 148 (770 ) 88,160 Other mortgage-backed securities (2) 44,844 44 (753 ) 44,135 Total available for sale $ 202,294 $ 271 $ (1,981 ) $ 200,584 Held to maturity: Residential mortgage-backed securities (3) $ 46 $ 1 $ - $ 47 March 31, 2017 Available for sale: Municipal securities $ 2,936 $ - $ (117 ) $ 2,819 Agency securities 16,993 18 (203 ) 16,808 Real estate mortgage investment conduits (1) 43,510 49 (399 ) 43,160 Residential mortgage-backed securities (1) 97,742 111 (1,242 ) 96,611 Other mortgage-backed securities (2) 41,649 15 (848 ) 40,816 Total available for sale $ 202,830 $ 193 $ (2,809 ) $ 200,214 Held to maturity: Residential mortgage-backed securities (3) $ 64 $ 2 $ - $ 66 (1) (2) (3) The contractual maturities of investment securities as of September 30, 2017 are as follows (in thousands): Available for Sale Held to Maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due in one year or less $ 5,000 $ 4,990 $ - $ - Due after one year through five years 11,480 11,479 7 7 Due after five years through ten years 42,426 42,059 34 35 Due after ten years 143,388 142,056 5 5 Total $ 202,294 $ 200,584 $ 46 $ 47 Expected maturities of investment securities may differ from contractual maturities because borrowers may have the right to prepay obligations with or without prepayment penalties. The fair value of temporarily impaired investment securities, the amount of unrealized losses and the length of time these unrealized losses existed are as follows at the dates indicated (in thousands): Less than 12 months 12 months or longer Total Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses September 30, 2017 Available for sale: Municipal securities $ 4,140 $ (42 ) $ - $ - $ 4,140 $ (42 ) Agency securities 16,274 (125 ) 4,990 (10 ) 21,264 (135 ) Real estate mortgage investment conduits (1) 26,962 (281 ) - - 26,962 (281 ) Residential mortgage-backed securities (1) 58,627 (655 ) 5,481 (115 ) 64,108 (770 ) Other mortgage-backed securities (2) 31,483 (590 ) 6,958 (163 ) 38,441 (753 ) Total available for sale $ 137,486 $ (1,693 ) $ 17,429 $ (288 ) $ 154,915 $ (1,981 ) (1) (2) March 31, 2017 Available for sale: Municipal securities $ 2,819 $ (117 ) $ - $ - $ 2,819 $ (117 ) Agency securities 15,785 (203 ) - - 15,785 (203 ) Real estate mortgage investment conduits (1) 32,221 (399 ) - - 32,221 (399 ) Residential mortgage-backed securities (2) 74,388 (1,232 ) 602 (10 ) 74,990 (1,242 ) Other mortgage-backed securities (3) 36,754 (803 ) 2,840 (45 ) 39,594 (848 ) Total available for sale $ 161,967 $ (2,754 ) $ 3,442 $ (55 ) $ 165,409 $ (2,809 ) (1) (2) (3) The unrealized losses on the Company's investment securities at September 30, 2017 were primarily attributable to increases in market interest rates subsequent to their purchase by the Company. The Company expects the fair value of these securities to recover as the securities approach their maturity dates or sooner if market yields for such securities decline. The Company does not believe that these securities are other than temporarily impaired because of their credit quality or related to any issuer or industry specific event. Based on management's evaluation and intent, the unrealized losses related to the investment securities in the above tables are considered temporary The Company had no sales and realized no gains or losses on sales of investment securities for the three and six months ended September 30, 2017 and 2016. Investment securities available for sale with an amortized cost of $4.1 million and $11.1 million and a fair value of $4.1 million and $11.1 million at September 30, 2017 and March 31, 2017, respectively, were pledged as collateral for government public funds held by the Bank. There were no investment securities held to maturity pledged as collateral for government public funds held by the Bank at September 30, 2017. Investment securities held to maturity with an amortized cost and a fair value of $20,000 at March 31, 2017 were pledged as collateral for government public funds held by the Bank.

LOANS RECEIVABLE

LOANS RECEIVABLE	6 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
LOANS RECEIVABLE	7. LOANS RECEIVABLE Loans receivable as of September 30, 2017 and March 31, 2017 are reported net of deferred loan fees totaling $3.3 million and $3.2 million, respectively. Loans receivable are also reported net of discounts totaling $1.3 million and $2.0 million at September 30, 2017 and March 31, 2017, respectively. Loans receivable, excluding loans held for sale, consisted of the following at the dates indicated (in thousands): September 30, 2017 March 31, 2017 Commercial and construction Commercial business $ 118,444 $ 107,371 Commercial real estate 440,555 447,071 Land 13,745 15,875 Multi-family 46,082 43,715 Real estate construction 53,878 46,157 Total commercial and construction 672,704 660,189 Consumer Real estate one-to-four family 90,764 92,865 Other installment (1) 20,236 26,378 Total consumer 111,000 119,243 Total loans 783,704 779,432 Less: Allowance for loan losses 10,617 10,528 Loans receivable, net $ 773,087 $ 768,904 (1) Consists primarily of purchased automobile loans totaling $17.5 million and $23.6 million at September 30, 2017 and March 31, 2017, respectively. The Company considers its loan portfolio to have very little exposure to sub-prime mortgage loans since the Company has not historically engaged in this type of lending. At September 30, 2017, loans carried at $523.8 million were pledged as collateral to the Federal Home Loan Bank of Des Moines ("FHLB") and Federal Reserve Bank of San Francisco ("FRB") pursuant to borrowing agreements. Most of the Bank's business activity is with customers located in the states of Washington and Oregon. Loans and extensions of credit outstanding at one time to one borrower are generally limited by federal regulation to 15% of the Bank's shareholders' equity, excluding accumulated other comprehensive income (loss). As of September 30, 2017 and March 31, 2017, the Bank had no loans to any one borrower in excess of the regulatory limit.

ALLOWANCE FOR LOAN LOSSES

ALLOWANCE FOR LOAN LOSSES	6 Months Ended
	Sep. 30, 2017
Allowance For Loan Losses [Abstract]
ALLOWANCE FOR LOAN LOSSES	8. ALLOWANCE FOR LOAN LOSSES The allowance for loan losses is maintained at a level sufficient to provide for estimated loan losses based on evaluating known and inherent risks in the loan portfolio. The allowance is provided based upon the Company's ongoing quarterly assessment of the pertinent factors underlying the quality of the loan portfolio. These factors include changes in the size and composition of the loan portfolio, delinquency levels, actual loan loss experience, current economic conditions and a detailed analysis of individual loans for which full collectability may not be assured. The detailed analysis includes techniques to estimate the fair value of loan collateral and the existence of potential alternative sources of repayment. The allowance consists of specific, general and unallocated components. The specific component relates to loans that are considered impaired. For loans that are classified as impaired, an allowance is established when the discounted cash flows or collateral value (less estimated selling costs, if applicable) of the impaired loan is lower than the carrying value of that loan. The general component covers non-impaired loans based on the Company's risk rating system and historical loss experience adjusted for qualitative factors. The Company calculates its historical loss rates using the average of the last four quarterly 24-month periods. The Company calculates and applies its historical loss rates by individual loan types in its portfolio. These historical loss rates are adjusted for qualitative and environmental factors. An unallocated component is maintained to cover uncertainties that the Company believes have resulted in incurred losses that have not yet been allocated to specific elements of the general and specific components of the allowance for loan losses. Such factors include uncertainties in economic conditions and in identifying triggering events that directly correlate to subsequent loss rates, changes in appraised value of underlying collateral, risk factors that have not yet manifested themselves in loss allocation factors and historical loss experience data that may not precisely correspond to the current portfolio or economic conditions. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. The appropriate allowance level is estimated based upon factors and trends identified by the Company as of the date of the filing of the consolidated financial statements. When available information confirms that specific loans or portions of these loans are uncollectible, identified amounts are charged against the allowance for loan losses. The existence of some or all of the following criteria will generally confirm that a loss has been incurred: the loan is significantly delinquent and the borrower has not demonstrated the ability or intent to bring the loan current; the Company has no recourse to the borrower, or if it does, the borrower has insufficient assets to pay the debt; and/or the estimated fair value of the loan collateral is significantly below the current loan balance, and there is little or no near-term prospect for improvement. Management's evaluation of the allowance for loan losses is based on ongoing, quarterly assessments of the known and inherent risks in the loan portfolio. Loss factors are based on the Company's historical loss experience with additional consideration and adjustments made for changes in economic conditions, changes in the amount and composition of the loan portfolio, delinquency rates, changes in collateral values, seasoning of the loan portfolio, duration of the current business cycle, a detailed analysis of impaired loans and other factors as deemed appropriate. These factors are evaluated on a quarterly basis. Loss rates used by the Company are affected as changes in these factors increase or decrease from quarter to quarter. In addition, regulatory agencies, as an integral part of their examination process, periodically review the Company's allowance for loan losses and may require the Company to make additions to the allowance based on their judgment about information available to them at the time of their examinations. The following tables present a reconciliation of the allowance for loan losses for the periods indicated (in thousands): Three months ended September 30, 2017 Commercial Business Commercial Real Estate Land Multi- Family Real Estate Construction Consumer Unallocated Total Beginning balance $ 1,391 $ 5,176 $ 219 $ 502 $ 668 $ 1,932 $ 709 $ 10,597 Provision for (recapture of) loan losses (53 ) (76 ) (130 ) 2 172 63 22 - Charge-offs - - - - - (128 ) - (128 ) Recoveries 2 16 107 - - 23 - 148 Ending balance $ 1,340 $ 5,116 $ 196 $ 504 $ 840 $ 1,890 $ 731 $ 10,617 Six months ended September 30, 2017 Beginning balance $ 1,418 $ 5,084 $ 228 $ 297 $ 714 $ 2,099 $ 688 $ 10,528 Provision for (recapture of) loan losses (83 ) 16 (275 ) 207 126 (34 ) 43 - Charge-offs - - - - - (210 ) - (210 ) Recoveries 5 16 243 - - 35 - 299 Ending balance $ 1,340 $ 5,116 $ 196 $ 504 $ 840 $ 1,890 $ 731 $ 10,617 Three months ended September 30, 2016 Beginning balance $ 902 $ 4,473 $ 312 $ 671 $ 565 $ 2,327 $ 710 $ 9,960 Provision for (recapture of) loan losses 1 216 (264 ) (58 ) 162 (28 ) (29 ) - Charge-offs - - - - - (71 ) - (71 ) Recoveries 6 - 106 - - 62 - 174 Ending balance $ 909 $ 4,689 $ 154 $ 613 $ 727 $ 2,290 $ 681 $ 10,063 Six months ended September 30, 2016 Beginning balance $ 1,048 $ 4,273 $ 325 $ 712 $ 416 $ 2,403 $ 708 $ 9,885 Provision for (recapture of) loan losses (149 ) 414 (359 ) (99 ) 311 (91 ) (27 ) - Charge-offs - - - - - (115 ) - (115 ) Recoveries 10 2 188 - - 93 - 293 Ending balance $ 909 $ 4,689 $ 154 $ 613 $ 727 $ 2,290 $ 681 $ 10,063 The following tables present an analysis of loans receivable and the allowance for loan losses, based on impairment methodology, at the dates indicated (in thousands): Allowance for Loan Losses Recorded Investment In Loans September 30, 2017 Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Commercial business $ - $ 1,340 $ 1,340 $ 1,117 $ 117,327 $ 118,444 Commercial real estate 71 5,045 5,116 3,704 436,851 440,555 Land - 196 196 780 12,965 13,745 Multi-family - 504 504 1,669 44,413 46,082 Real estate construction - 840 840 - 53,878 53,878 Consumer 79 1,811 1,890 1,452 109,548 111,000 Unallocated - 731 731 - - - Total $ 150 $ 10,467 $ 10,617 $ 8,722 $ 774,982 $ 783,704 March 31, 2017 Commercial business $ - $ 1,418 $ 1,418 $ 294 $ 107,077 $ 107,371 Commercial real estate - 5,084 5,084 7,604 439,467 447,071 Land - 228 228 801 15,074 15,875 Multi-family - 297 297 1,692 42,023 43,715 Real estate construction - 714 714 - 46,157 46,157 Consumer 88 2,011 2,099 1,475 117,768 119,243 Unallocated - 688 688 - - - Total $ 88 $ 10,440 $ 10,528 $ 11,866 $ 767,566 $ 779,432 Non-accrual loans: The following tables present an analysis of loans by aging category at the dates indicated (in thousands): September 30, 2017 30-89 Days Past Due 90 Days and Greater Past Due Non-accrual Total Past Due and Non- accrual Current Total Loans Receivable Commercial business $ 20 $ - $ 290 $ 310 $ 118,134 $ 118,444 Commercial real estate - - 1,304 1,304 439,251 440,555 Land - - 780 780 12,965 13,745 Multi-family - - - - 46,082 46,082 Real estate construction - - - - 53,878 53,878 Consumer 183 - 371 554 110,446 111,000 Total $ 203 $ - $ 2,745 $ 2,948 $ 780,756 $ 783,704 March 31, 2017 Commercial business $ 13 $ - $ 294 $ 307 $ 107,064 $ 107,371 Commercial real estate - - 1,342 1,342 445,729 447,071 Land - - 801 801 15,074 15,875 Multi-family - - - - 43,715 43,715 Real estate construction - - - - 46,157 46,157 Consumer 228 34 278 540 118,703 119,243 Total $ 241 $ 34 $ 2,715 $ 2,990 $ 776,442 $ 779,432 Credit quality indicators: Pass Watch Special mention Substandard Doubtful Loss The following tables present an analysis of loans by credit quality indicators at the dates indicated (in thousands): September 30, 2017 Pass Special Mention Substandard Doubtful Loss Total Loans Receivable Commercial business $ 113,792 $ 2,141 $ 2,511 $ - $ - $ 118,444 Commercial real estate 427,173 10,259 3,123 - - 440,555 Land 12,965 - 780 - - 13,745 Multi-family 45,530 541 11 - - 46,082 Real estate construction 53,878 - - - - 53,878 Consumer 110,629 - 371 - - 111,000 Total $ 763,967 $ 12,941 $ 6,796 $ - $ - $ 783,704 March 31, 2017 Commercial business $ 102,113 $ 2,063 $ 3,195 $ - $ - $ 107,371 Commercial real estate 430,923 10,426 5,722 - - 447,071 Land 15,074 - 801 - - 15,875 Multi-family 43,156 547 12 - - 43,715 Real estate construction 46,157 - - - - 46,157 Consumer 118,965 - 278 - - 119,243 Total $ 756,388 $ 13,036 $ 10,008 $ - $ - $ 779,432 Impaired loans and troubled debt restructurings ("TDRs"): The following tables present the total and average recorded investment in impaired loans at the dates and for the periods indicated (in thousands): September 30, 2017 Recorded Investment with No Specific Valuation Allowance Recorded Investment with Specific Valuation Allowance Total Recorded Investment Unpaid Principal Balance Related Specific Valuation Allowance Commercial business $ 1,117 $ - $ 1,117 $ 1,336 $ - Commercial real estate 2,609 1,095 3,704 4,628 71 Land 780 - 780 800 - Multi-family 1,669 - 1,669 1,797 - Consumer 300 1,152 1,452 1,565 79 Total $ 6,475 $ 2,247 $ 8,722 $ 10,126 $ 150 March 31, 2017 Commercial business $ 294 $ - $ 294 $ 301 $ - Commercial real estate 7,604 - 7,604 8,806 - Land 801 - 801 807 - Multi-family 1,692 - 1,692 1,826 - Consumer 306 1,169 1,475 1,611 88 Total $ 10,697 $ 1,169 $ 11,866 $ 13,351 $ 88 Three Months ended September 30, 2017 Three Months ended September 30, 2016 Average Recorded Investment Interest Recognized on Impaired Loans Average Recorded Investment Interest Recognized on Impaired Loans Commercial business $ 1,116 $ 4 $ 245 $ 6 Commercial real estate 3,723 31 9,463 97 Land 786 - 801 - Multi-family 1,675 22 1,715 24 Consumer 1,458 15 1,503 16 Total $ 8,758 $ 72 $ 13,727 $ 143 Six Months ended September 30, 2017 Six Months ended September 30, 2016 Average Recorded Investment Interest Recognized on Impaired Loans Average Recorded Investment Interest Recognized on Impaired Loans Commercial business $ 842 $ 23 $ 228 $ 9 Commercial real estate 5,017 61 9,576 194 Land 791 - 801 - Multi-family 1,680 46 1,720 47 Consumer 1,464 31 1,561 31 Total $ 9,794 $ 161 $ 13,886 $ 281 The cash basis interest income on impaired loans was not materially different than the interest recognized on impaired loans as shown in the above tables. TDRs are loans for which the Company, for economic or legal reasons related to the borrower's financial condition, has granted a concession to the borrower that it would otherwise not consider. A TDR typically involves a modification of terms such as a reduction of the stated interest rate or face amount of the loan, a reduction of accrued interest, and/or an extension of the maturity date(s) at a stated interest rate lower than the current market rate for a new loan with similar risk. TDRs are considered impaired loans and as such, impairment is measured as described for impaired loans above. The following table presents TDRs by interest accrual status at the dates indicated (in thousands): September 30, 2017 March 31, 2017 Accrual Nonaccrual Total Accrual Nonaccrual Total Commercial business $ 827 $ 290 $ 1,117 $ - $ 294 $ 294 Commercial real estate 2,400 1,304 3,704 6,262 1,342 7,604 Land - 780 780 - 801 801 Multi-family 1,669 - 1,669 1,692 - 1,692 Consumer 1,452 - 1,452 1,475 - 1,475 Total $ 6,348 $ 2,374 $ 8,722 $ 9,429 $ 2,437 $ 11,866 At September 30, 2017, the Company had no commitments to lend additional funds on these loans. At September 30, 2017, all of the Company's TDRs were paying as agreed except for two commercial business TDR loans totaling $290,000 and two commercial real estate TDR loans totaling $1.3 million that defaulted since the loans were modified. There were no new TDRs for the three and six months ended September 30, 2017. There was one new TDR for the three and six months ended September 30, 2016 which was a commercial loan with a pre-modification outstanding recorded investment balance of $116,000 and a post-modification outstanding recorded investment balance of $111,000. There were no loans modified as a TDR within the previous twelve months that subsequently defaulted during the three and six months ended September 30, 2017. In accordance with the Company's policy guidelines, unsecured loans are generally charged-off when no payments have been received for three consecutive months unless an alternative action plan is in effect. Consumer installment loans delinquent six months or more that have not received at least 75% of their required monthly payment in the last 90 days are charged-off. In addition, loans discharged in bankruptcy proceedings are charged-off. Loans under bankruptcy protection with no payments received for four consecutive months are charged-off. The outstanding balance of a secured loan that is in excess of the net realizable value is generally charged-off if no payments are received for four to five consecutive months. However, charge-offs are postponed if alternative proposals to restructure, obtain additional guarantors, obtain additional assets as collateral or a potential sale of the underlying collateral would result in full repayment of the outstanding loan balance. Once any other potential sources of repayment are exhausted, the impaired portion of the loan is charged-off. Regardless of whether a loan is unsecured or collateralized, once an amount is determined to be a confirmed loan loss it is promptly charged off.

GOODWILL

GOODWILL	6 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	9. GOODWILL Goodwill and certain other intangibles generally arise from business combinations accounted for under the purchase method of accounting. Goodwill and other intangibles deemed to have indefinite lives generated from business combinations are not subject to amortization and are instead tested for impairment not less than annually. The Company has two reporting units, the Bank and the Trust Company, for purposes of evaluating goodwill for impairment. All of the Company's goodwill has been allocated to the Bank reporting unit. The Company performed an impairment assessment as of October 31, 2016 and determined that no impairment of goodwill exists. The goodwill impairment test involves a two-step process. The first step is a comparison of the reporting unit's fair value to its carrying value. If the reporting unit's fair value is less than its carrying value, the Company would be required to progress to the second step. In the second step, the Company calculates the implied fair value of goodwill. GAAP with respect to goodwill requires that the Company compare the implied fair value of goodwill to the carrying amount of goodwill in the Company's consolidated balance sheet. If the carrying amount of the goodwill is greater than the implied fair value of that goodwill, an impairment loss must be recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as goodwill recognized in a business combination. The estimated fair value of the Company is allocated to all of the Company's individual assets and liabilities, including any unrecognized identifiable intangible assets, as if the Company had been acquired in a business combination and the estimated fair value of the Company is the price paid to acquire it. The allocation process is performed only for purposes of determining the amount of goodwill impairment, as no assets or liabilities are written up or down, nor are any additional unrecognized identifiable intangible assets recorded as a part of this process. The results of the Company's step one test indicated that the reporting unit's fair value was greater than its carrying value, and, therefore, a step two analysis was not required; however, no assurance can be given that the Company's goodwill will not be written down in future periods. An interim impairment test was not deemed necessary as of September 30, 2017 due to the amount by which the fair value of the reporting unit exceeded the carrying value as of the most recent valuation, and because the Company determined that, based on an analysis of events that have occurred and circumstances that have changed since the most recent valuation date, the likelihood that a current estimated fair value determination would be less than the current carrying amount of the reporting unit is remote. The following table presents the changes in the carrying amount of goodwill for the periods indicated (in thousands): For the Six Months Ended September 30, 2017 For the Year Ended March 31, 2017 Net carrying value at beginning of period $ 27,076 $ 25,572 MBank Transaction (see Note 3) - 1,504 Net carrying value at the end of period $ 27,076 $ 27,076

JUNIOR SUBORDINATED DEBENTURES

JUNIOR SUBORDINATED DEBENTURES	6 Months Ended
	Sep. 30, 2017
Junior Subordinated Debentures [Abstract]
JUNIOR SUBORDINATED DEBENTURES	10. JUNIOR SUBORDINATED DEBENTURES The Company has wholly-owned subsidiary grantor trusts that were established for the purpose of issuing trust preferred securities and common securities. The trust preferred securities accrue and pay distributions periodically at specified annual rates as provided in each trust agreement. The trusts used the net proceeds from each of the offerings to purchase a like amount of junior subordinated debentures (the "Debentures") of the Company. The Debentures are the sole assets of the trusts. The Company's obligations under the Debentures and related documents, taken together, constitute a full and unconditional guarantee by the Company of the obligations of the trusts. The trust preferred securities are mandatorily redeemable upon maturity of the Debentures or upon earlier redemption as provided in the indentures. The Company has the right to redeem the Debentures in whole or in part on or after specific dates, at a redemption price specified in the indentures governing the Debentures plus any accrued but unpaid interest to the redemption date. The Company also has the right to defer the payment of interest on each of the Debentures for a period not to exceed 20 consecutive quarters, provided that the deferral period does not extend beyond the stated maturity. During such deferral period, distributions on the corresponding trust preferred securities will also be deferred and the Company may not pay cash dividends to the holders of shares of the Company's common stock. The Debentures issued by the Company to the grantor trusts; totaling $26.4 million at both September 30, 2017 and March 31, 2017, are reflected in the consolidated balance sheets in the liabilities section, under the caption "junior subordinated debentures." The common securities issued by the grantor trusts were purchased by the Company, and the Company's investment in the common securities of $836,000 at both September 30, 2017 and March 31, 2017, is included in prepaid expenses and other assets in the consolidated balance sheets. The Company records interest expense on the Debentures in the consolidated statements of income. The following table is a summary of the terms and the amounts outstanding of the Debentures at September 30, 2017 (dollars in thousands): Issuance Trust Issuance Date Amount Outstanding Rate Type Initial Rate Current Rate Maturity Date Riverview Bancorp Statutory Trust I 12/2005 $ 7,217 Variable (1) 5.88 % 2.68 % 3/2036 Riverview Bancorp Statutory Trust II 06/2007 15,464 Variable (2) 7.03 % 2.67 % 9/2037 Merchants Bancorp Statutory Trust I (4) 06/2003 5,155 Variable (3) 4.16 % 4.43 % 6/2033 27,836 Fair value adjustment (4) (1,398 ) Total Debentures at fair value $ 26,438 (1) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.36%. (2) (3) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 3.10%. (4)

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	11. FAIR VALUE MEASUREMENTS GAAP defines fair value, establishes a framework for measuring fair value, and requires certain disclosures about fair value measurements. The categories of fair value measurement prescribed by GAAP and used in the tables presented under fair value measurements are as follows: Quoted prices in active markets for identical assets (Level 1): Inputs that are quoted unadjusted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Other observable inputs (Level 2): Inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets and inputs derived principally from or corroborated by observable market data by correlation or other means. Significant unobservable inputs (Level 3): Inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances. Financial instruments are presented in the tables that follow by recurring or nonrecurring measurement status. Recurring assets are initially measured at fair value and are required to be remeasured at fair value in the consolidated financial statements at each reporting date. Assets measured on a nonrecurring basis are assets that, as a result of an event or circumstance, were required to be remeasured at fair value after initial recognition in the consolidated financial statements at some time during the reporting period. Estimated Fair Value Measurements Using September 30, 2017 Total Estimated Fair Value Level 1 Level 2 Level 3 Investment securities available for sale: Municipal securities $ 6,341 $ - $ 6,341 $ - Agency securities 22,291 - 22,291 - Real estate mortgage investment conduits 39,657 - 39,657 - Residential mortgage-backed securities 88,160 - 88,160 - Other mortgage-backed securities 44,135 - 44,135 - Total assets measured at fair value on a recurring basis $ 200,584 $ - $ 200,584 $ - March 31, 2017 Investment securities available for sale: Municipal securities $ 2,819 $ - $ 2,819 $ - Agency securities 16,808 - 16,808 - Real estate mortgage investment conduits 43,160 - 43,160 - Residential mortgage-backed securities 96,611 - 96,611 - Other mortgage-backed securities 40,816 - 40,816 - Total assets measured at fair value on a recurring basis $ 200,214 $ - $ 200,214 $ - There were no transfers of assets into or out of Levels 1, 2 or 3 for the six months ended September 30, 2017 and 2016. The following methods were used to estimate the fair value of financial instruments above: Investment securities For Level 2 securities, the independent pricing service provides pricing information by utilizing evaluated pricing models supported with market data information. Standard inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data from market research publications. The Company's third-party pricing service has established processes for the Company to submit inquiries regarding the estimated fair value. In such cases, the Company's third-party pricing service will review the inputs to the evaluation in light of any new market data presented by the Company. The Company's third-party pricing service may then affirm the original estimated fair value or may update the evaluation on a go-forward basis. Management reviews the pricing information received from the third-party pricing service through a combination of procedures that include an evaluation of methodologies used by the pricing service, analytical reviews and performance analysis of the prices against statistics and trends. Based on this review, management determines whether the current placement of the security in the fair value hierarchy is appropriate or whether transfers may be warranted. As necessary, the Company compares prices received from the pricing service to discounted cash flow models or by performing independent valuations of inputs and assumptions similar to those used by the pricing service in order to help ensure prices represent a reasonable estimate of fair value. Estimated Fair Value Measurements Using September 30, 2017 Total Estimated Fair Value Level 1 Level 2 Level 3 Impaired loans $ 2,178 $ - $ - $ 2,178 March 31, 2017 Impaired loans $ 2,281 $ - $ - $ 2,281 The following table presents quantitative information about Level 3 inputs for financial instruments measured at fair value on a nonrecurring basis at September 30, 2017 and March 31, 2017: Valuation Technique Significant Unobservable Inputs Range (1) Impaired loans Appraised value Adjustment for market conditions N/A (1) The following methods were used to estimate the fair values: Impaired loans In determining the estimated net realizable value of the underlying collateral, the Company primarily uses third-party appraisals which may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available and include consideration of variations in location, size, and income production capacity of the property. Additionally, the appraisals are periodically further adjusted by the Company in consideration of charges that may be incurred in the event of foreclosure and are based on management's historical knowledge, changes in business factors and changes in market conditions. Impaired loans are reviewed and evaluated quarterly for additional impairment and adjusted accordingly based on the same factors identified above. Because of the high degree of judgment required in estimating the fair value of collateral underlying impaired loans and because of the relationship between fair value and general economic conditions, the Company considers the fair value of impaired loans to be highly sensitive to changes in market conditions. The following disclosure of the estimated fair value of financial instruments is made in accordance with GAAP. The Company, using available market information and appropriate valuation methodologies, has determined the estimated fair value amounts. However, considerable judgment is necessary to interpret market data in the development of the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize in the future. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. The carrying amount and estimated fair value of financial instruments is as follows at the dates indicated (in thousands): September 30, 2017 Carrying Amount Level 1 Level 2 Level 3 Estimated Fair Value Assets: Cash and cash equivalents $ 76,245 $ 76,245 $ - $ - $ 76,245 Certificates of deposit held for investment 9,797 - 9,824 - 9,824 Loans held for sale 347 - 347 - 347 Investment securities available for sale 200,584 - 200,584 - 200,584 Investment securities held to maturity 46 - 47 - 47 Loans receivable, net 773,087 - - 746,616 746,616 FHLB stock 1,181 - 1,181 - 1,181 Liabilities: Demand and savings deposits 854,330 854,330 - - 854,330 Time deposits 135,969 - 135,118 - 135,118 Junior subordinated debentures 26,438 - - 13,913 13,913 Capital lease obligation 2,443 - 2,443 - 2,443 March 31, 2017 Assets: Cash and cash equivalents $ 64,613 $ 64,613 $ - $ - $ 64,613 Certificates of deposit held for investment 11,042 - 11,108 - 11,108 Loans held for sale 478 - 478 - 478 Investment securities available for sale 200,214 - 200,214 - 200,214 Investment securities held to maturity 64 - 66 - 66 Loans receivable, net 768,904 - - 731,996 731,996 FHLB stock 1,181 - 1,181 - 1,181 Liabilities: Demand and savings deposits 830,258 830,258 - - 830,258 Time deposits 149,800 - 148,574 - 148,574 Junior subordinated debentures 26,390 - - 13,284 13,284 Capital lease obligation 2,454 - 2,454 - 2,454 Fair value estimates were based on existing financial instruments without attempting to estimate the value of anticipated future business. The fair value was not estimated for assets and liabilities that were not considered financial instruments. Fair value estimates, methods and assumptions are set forth below: Cash and cash equivalents Certificates of deposit held for investment Investment securities Loans receivable and loans held for sale FHLB stock Deposits Junior subordinated debentures Capital lease obligation Off-balance sheet financial instruments

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Sep. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	12. NEW ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"). ASU 2014-09 implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 is effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. The Company's primary source of revenue is interest income, which is recognized when earned and is deemed to be in compliance with this ASU. Accordingly, the adoption of ASU 2014-09 is not expected to have a material impact on the Company's future consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, "Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities" ("ASU 2016-01"). The main provisions of ASU 2016-01 address the valuation and impairment of certain equity investments along with simplified disclosures about those investments. Equity securities with readily determinable fair values will be treated in the same manner as other financial instruments. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of ASU 2016-01 is not expected to have a material impact on the Company's future consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, "Leases" ("ASU 2016-02"). ASU 2016-02 is intended to increase transparency and comparability among organizations by requiring the recognition of lease assets and lease liabilities in the balance sheet and disclosure of key information about leasing arrangements. The principal change required by ASU 2016-02 relates to lessee accounting, and is that for operating leases, a lessee is required to (1) recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in the statement of financial position, (2) recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term generally on a straight-line basis, and (3) classify all cash payments within operating activities in the statement of cash flows. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. ASU 2016-02 also changes disclosure requirements related to leasing activities and requires certain qualitative disclosures along with specific quantitative disclosures. ASU 2016-02 will be effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018. Early application of ASU 2016-02 is permitted. The effect of the adoption of ASU 2016-02 is not expected to have a material impact on the Company's future consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments" ("ASU 2016-13"). ASU 2016-13 replaces the existing incurred losses methodology for estimating allowances with a current expected credit losses methodology with respect to most financial assets measured at amortized cost and certain other instruments, including trade and other receivables, loans, held to maturity investment securities and off-balance sheet commitments. In addition, ASU 2016-13 requires credit losses relating to available for sale debt securities to be recorded through an allowance for credit losses rather than a reduction of carrying amount. ASU 2016-13 also changes the accounting for PCI debt securities and loans. Upon adoption, the Company expects a change in the processes and procedures to calculate the allowance for loan losses, including changes in assumptions and estimates to consider expected credit losses over the life of the loan versus the current accounting practice that utilizes the incurred loss model. At this time, management anticipates the allowance for loan losses will increase as a result of the implementation of this ASU. In addition, the current accounting policy and procedures for other-than-temporary impairment on investment securities available for sale will be replaced with an allowance approach. The Company is reviewing the requirements of ASU 2016-13 and expects to begin developing and implementing processes and procedures to ensure it is fully compliant with the amendments at the adoption date. ASU 2016-13 retains many of the current disclosure requirements in GAAP and expands certain disclosure requirements. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. In January 2017, the FASB issued ASU 2017-04, "Intangibles – Goodwill and Other: Simplifying the Test for Goodwill Impairment" ("ASU 2017-04"). ASU 2017-04 simplifies the subsequent measurement of goodwill and eliminates Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Under ASU 2017-04, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. ASU 2017-04 will be effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early application of ASU 2017-04 is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of ASU 2017-04 is not expected to have a material impact on the Company's future consolidated financial statements. In March 2017, the FASB issued ASU 2017-08, "Receivables – Nonrefundable Fees and Other Costs: Premium Amortization on Purchased Callable Debt Securities" ("ASU 2017-08"). ASU 2017-08 shortens the amortization period for certain callable debt securities held at a premium to the earliest call date. ASU 2017-08 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The adoption of ASU 2017-08 is not expected to have a material impact on the Company's future consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, "Compensation – Stock Compensation: Scope of Modification Accounting" ("ASU 2017-09"). The ASU was issued to provide clarity as to when to apply modification accounting when there is a change in term or conditions of a share-based payment award. According to this ASU, an entity should account for the effects of a modification unless the fair value, vesting conditions, and balance sheet classification of the award is the same after the modification as compared to the original award prior to the modification. ASU 2017-09 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early application of ASU 2017-09 is permitted. The adoption of ASU 2017-09 is not expected to have a material impact on the Company's future consolidated financial statements.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	13. COMMITMENTS AND CONTINGENCIES Off-balance sheet arrangements Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third-party. These guarantees are primarily used to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Collateral held varies and is required in instances where the Company deems it necessary. Significant off-balance sheet commitments at September 30, 2017 are listed below (in thousands): Contract or Notional Amount Commitments to originate loans: Adjustable-rate $ 21,601 Fixed-rate 7,432 Standby letters of credit 2,494 Undisbursed loan funds and unused lines of credit 137,605 Total $ 169,132 At September 30, 2017, the Company had firm commitments to sell $1.8 million of residential loans to the FHLMC. Typically, these agreements are short-term fixed-rate commitments and no material gain or loss is likely. Other Contractual Obligations. The Bank is a public depository and, accordingly, accepts deposit and other public funds belonging to, or held for the benefit of, Washington and Oregon states, political subdivisions thereof, and municipal corporations. In accordance with applicable state law, in the event of default of a participating bank, all other participating banks in the state collectively assure that no loss of funds are suffered by any public depositor. Generally, in the event of default by a public depository, the assessment attributable to all public depositories is allocated on a pro rata basis in proportion to the maximum liability of each depository as it existed on the date of loss. The Company has not incurred any losses related to public depository funds held by other institutions for the six months ended September 30, 2017 and 2016. The Company is periodically party to litigation arising in the ordinary course of business. In the opinion of management, these actions will not have a material effect, if any, on the Company's future consolidated financial position, results of operations and cash flows. The Bank has entered into employment contracts with certain key employees, which provide for contingent payments subject to future events.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Quarterly Reports on Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of financial condition, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America ("GAAP"). However, all adjustments that are, in the opinion of management, necessary for a fair presentation of the interim unaudited consolidated financial statements have been included. All such adjustments are of a normal recurring nature. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Riverview Bancorp, Inc. Annual Report on Form 10-K for the year ended March 31, 2017 ("2017 Form 10-K"). The unaudited consolidated results of operations for the six months ended September 30, 2017 are not necessarily indicative of the results which may be expected for the entire fiscal year ending March 31, 2018. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On February 17, 2017, Riverview Bancorp, Inc. and Riverview Community Bank completed the purchase and assumption transaction in which Riverview Community Bank purchased certain assets and assumed certain liabilities of MBank, the wholly-owned subsidiary of Merchants Bancorp (the "MBank transaction"). In addition, as part of the MBank transaction, Riverview Bancorp, Inc. assumed the obligations of Merchant Bancorp's trust preferred securities. The MBank transaction was accounted for as a business combination pursuant to GAAP. The results of operations of the acquired assets and assumed liabilities have been included in the Company's consolidated financial statements as of and for the period since the acquisition date. See Note 3 for additional discussion.
PRINCIPLES OF CONSOLIDATION	PRINCIPLES OF CONSOLIDATION The accompanying unaudited consolidated financial statements include the accounts of Riverview Bancorp, Inc.; its wholly-owned subsidiary, Riverview Community Bank (the "Bank"); and the Bank's wholly-owned subsidiaries, Riverview Services, Inc. and Riverview Trust Company (the "Trust Company") (collectively referred to as the "Company"). All inter-company transactions and balances have been eliminated in consolidation.
NEW ACCOUNTING PRONOUNCEMENTS	NEW ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"). ASU 2014-09 implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 is effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. The Company's primary source of revenue is interest income, which is recognized when earned and is deemed to be in compliance with this ASU. Accordingly, the adoption of ASU 2014-09 is not expected to have a material impact on the Company's future consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, "Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities" ("ASU 2016-01"). The main provisions of ASU 2016-01 address the valuation and impairment of certain equity investments along with simplified disclosures about those investments. Equity securities with readily determinable fair values will be treated in the same manner as other financial instruments. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of ASU 2016-01 is not expected to have a material impact on the Company's future consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, "Leases" ("ASU 2016-02"). ASU 2016-02 is intended to increase transparency and comparability among organizations by requiring the recognition of lease assets and lease liabilities in the balance sheet and disclosure of key information about leasing arrangements. The principal change required by ASU 2016-02 relates to lessee accounting, and is that for operating leases, a lessee is required to (1) recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in the statement of financial position, (2) recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term generally on a straight-line basis, and (3) classify all cash payments within operating activities in the statement of cash flows. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. ASU 2016-02 also changes disclosure requirements related to leasing activities and requires certain qualitative disclosures along with specific quantitative disclosures. ASU 2016-02 will be effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018. Early application of ASU 2016-02 is permitted. The effect of the adoption of ASU 2016-02 is not expected to have a material impact on the Company's future consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments" ("ASU 2016-13"). ASU 2016-13 replaces the existing incurred losses methodology for estimating allowances with a current expected credit losses methodology with respect to most financial assets measured at amortized cost and certain other instruments, including trade and other receivables, loans, held to maturity investment securities and off-balance sheet commitments. In addition, ASU 2016-13 requires credit losses relating to available for sale debt securities to be recorded through an allowance for credit losses rather than a reduction of carrying amount. ASU 2016-13 also changes the accounting for PCI debt securities and loans. Upon adoption, the Company expects a change in the processes and procedures to calculate the allowance for loan losses, including changes in assumptions and estimates to consider expected credit losses over the life of the loan versus the current accounting practice that utilizes the incurred loss model. At this time, management anticipates the allowance for loan losses will increase as a result of the implementation of this ASU. In addition, the current accounting policy and procedures for other-than-temporary impairment on investment securities available for sale will be replaced with an allowance approach. The Company is reviewing the requirements of ASU 2016-13 and expects to begin developing and implementing processes and procedures to ensure it is fully compliant with the amendments at the adoption date. ASU 2016-13 retains many of the current disclosure requirements in GAAP and expands certain disclosure requirements. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. In January 2017, the FASB issued ASU 2017-04, "Intangibles – Goodwill and Other: Simplifying the Test for Goodwill Impairment" ("ASU 2017-04"). ASU 2017-04 simplifies the subsequent measurement of goodwill and eliminates Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Under ASU 2017-04, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. ASU 2017-04 will be effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early application of ASU 2017-04 is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of ASU 2017-04 is not expected to have a material impact on the Company's future consolidated financial statements. In March 2017, the FASB issued ASU 2017-08, "Receivables – Nonrefundable Fees and Other Costs: Premium Amortization on Purchased Callable Debt Securities" ("ASU 2017-08"). ASU 2017-08 shortens the amortization period for certain callable debt securities held at a premium to the earliest call date. ASU 2017-08 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The adoption of ASU 2017-08 is not expected to have a material impact on the Company's future consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, "Compensation – Stock Compensation: Scope of Modification Accounting" ("ASU 2017-09"). The ASU was issued to provide clarity as to when to apply modification accounting when there is a change in term or conditions of a share-based payment award. According to this ASU, an entity should account for the effects of a modification unless the fair value, vesting conditions, and balance sheet classification of the award is the same after the modification as compared to the original award prior to the modification. ASU 2017-09 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early application of ASU 2017-09 is permitted. The adoption of ASU 2017-09 is not expected to have a material impact on the Company's future consolidated financial statements.

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	6 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Schedule of estimated fair values of assets acquired and liabilities assumed	At February 17, 2017 Book Value Fair Value Adjustment Estimated Fair Value Cash consideration transferred $ 12,080 Recognized amounts of identifiable assets acquired and liabilities assumed Identifiable assets acquired Cash and cash equivalents $ 27,196 $ - $ 27,196 Loans receivable 115,283 (3,258 ) 112,025 CDI - 1,363 1,363 Premises and equipment 1,769 399 2,168 BOLI 2,113 - 2,113 Accrued interest receivable and other assets 431 90 521 Total identifiable assets acquired 146,792 (1,406 ) 145,386 Liabilities assumed Deposits 130,572 235 130,807 Junior subordinated debentures 5,155 (1,468 ) 3,687 Accrued expenses and other liabilities 293 23 316 Total liabilities assumed 136,020 (1,210 ) 134,810 Total identifiable net assets acquired $ 10,772 $ (196 ) 10,576 Goodwill recognized $ 1,504

STOCK PLANS AND STOCK-BASED C25

STOCK PLANS AND STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of stock options outstanding	Six Months Ended September 30, 2017 Six Months Ended September 30, 2016 Number of Shares Weighted Average Exercise Price Number of Shares Weighted Average Exercise Price Balance, beginning of period 220,654 $ 4.74 223,654 $ 4.73 Options exercised (23,022 ) 4.43 - - Expired (15,000 ) 14.49 - - Balance, end of period 182,632 $ 3.98 223,654 $ 4.73
Schedule of stock options outstanding, less estimated forfeitures	September 30, 2017 2016 Stock options fully vested and expected to vest: Number 182,632 223,654 Weighted average exercise price $ 3.98 $ 4.73 Aggregate intrinsic value (1) $ 817,000 $ 342,000 Weighted average contractual term of options (years) 3.20 3.84 Stock options fully vested and currently exercisable: Number 182,632 223,654 Weighted average exercise price $ 3.98 $ 4.73 Aggregate intrinsic value (1) $ 817,000 $ 342,000 Weighted average contractual term of options (years) 3.20 3.84 (1)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 Basic EPS computation: Numerator-net income $ 3,059,000 $ 1,680,000 $ 5,713,000 $ 3,377,000 Denominator-weighted average common shares outstanding 22,518,941 22,474,019 22,511,935 22,470,957 Basic EPS $ 0.14 $ 0.07 $ 0.25 $ 0.15 Diluted EPS computation: Numerator-net income $ 3,059,000 $ 1,680,000 $ 5,713,000 $ 3,377,000 Denominator-weighted average common shares outstanding 22,518,941 22,474,019 22,511,935 22,470,957 Effect of dilutive stock options 90,539 56,312 87,916 51,587 Weighted average common shares and common stock equivalents 22,609,480 22,530,331 22,599,851 22,522,544 Diluted EPS $ 0.14 $ 0.07 $ 0.25 $ 0.15

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	6 Months Ended
	Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract]
Schedule of amortized cost and approximate fair value of investment securities	Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value September 30, 2017 Available for sale: Municipal securities $ 6,368 $ 15 $ (42 ) $ 6,341 Agency securities 22,404 22 (135 ) 22,291 Real estate mortgage investment conduits (1) 39,896 42 (281 ) 39,657 Residential mortgage-backed securities (1) 88,782 148 (770 ) 88,160 Other mortgage-backed securities (2) 44,844 44 (753 ) 44,135 Total available for sale $ 202,294 $ 271 $ (1,981 ) $ 200,584 Held to maturity: Residential mortgage-backed securities (3) $ 46 $ 1 $ - $ 47 March 31, 2017 Available for sale: Municipal securities $ 2,936 $ - $ (117 ) $ 2,819 Agency securities 16,993 18 (203 ) 16,808 Real estate mortgage investment conduits (1) 43,510 49 (399 ) 43,160 Residential mortgage-backed securities (1) 97,742 111 (1,242 ) 96,611 Other mortgage-backed securities (2) 41,649 15 (848 ) 40,816 Total available for sale $ 202,830 $ 193 $ (2,809 ) $ 200,214 Held to maturity: Residential mortgage-backed securities (3) $ 64 $ 2 $ - $ 66 (1) (2) (3)
Schedule of contractual maturities of investment securities	Available for Sale Held to Maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due in one year or less $ 5,000 $ 4,990 $ - $ - Due after one year through five years 11,480 11,479 7 7 Due after five years through ten years 42,426 42,059 34 35 Due after ten years 143,388 142,056 5 5 Total $ 202,294 $ 200,584 $ 46 $ 47
Schedule of temporarily impaired securities, fair value and unrealized losses	Less than 12 months 12 months or longer Total Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses September 30, 2017 Available for sale: Municipal securities $ 4,140 $ (42 ) $ - $ - $ 4,140 $ (42 ) Agency securities 16,274 (125 ) 4,990 (10 ) 21,264 (135 ) Real estate mortgage investment conduits (1) 26,962 (281 ) - - 26,962 (281 ) Residential mortgage-backed securities (1) 58,627 (655 ) 5,481 (115 ) 64,108 (770 ) Other mortgage-backed securities (2) 31,483 (590 ) 6,958 (163 ) 38,441 (753 ) Total available for sale $ 137,486 $ (1,693 ) $ 17,429 $ (288 ) $ 154,915 $ (1,981 ) (1) (2) March 31, 2017 Available for sale: Municipal securities $ 2,819 $ (117 ) $ - $ - $ 2,819 $ (117 ) Agency securities 15,785 (203 ) - - 15,785 (203 ) Real estate mortgage investment conduits (1) 32,221 (399 ) - - 32,221 (399 ) Residential mortgage-backed securities (2) 74,388 (1,232 ) 602 (10 ) 74,990 (1,242 ) Other mortgage-backed securities (3) 36,754 (803 ) 2,840 (45 ) 39,594 (848 ) Total available for sale $ 161,967 $ (2,754 ) $ 3,442 $ (55 ) $ 165,409 $ (2,809 ) (1) (2) (3)

LOANS RECEIVABLE (Tables)

LOANS RECEIVABLE (Tables)	6 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Schedule of loans and financing receivable	September 30, 2017 March 31, 2017 Commercial and construction Commercial business $ 118,444 $ 107,371 Commercial real estate 440,555 447,071 Land 13,745 15,875 Multi-family 46,082 43,715 Real estate construction 53,878 46,157 Total commercial and construction 672,704 660,189 Consumer Real estate one-to-four family 90,764 92,865 Other installment (1) 20,236 26,378 Total consumer 111,000 119,243 Total loans 783,704 779,432 Less: Allowance for loan losses 10,617 10,528 Loans receivable, net $ 773,087 $ 768,904 (1) Consists primarily of purchased automobile loans totaling $17.5 million and $23.6 million at September 30, 2017 and March 31, 2017, respectively.

ALLOWANCE FOR LOAN LOSSES (Tabl

ALLOWANCE FOR LOAN LOSSES (Tables)	6 Months Ended
	Sep. 30, 2017
Allowance For Loan Losses [Abstract]
Schedule of reconciliation of the allowance for loan losses	Three months ended September 30, 2017 Commercial Business Commercial Real Estate Land Multi- Family Real Estate Construction Consumer Unallocated Total Beginning balance $ 1,391 $ 5,176 $ 219 $ 502 $ 668 $ 1,932 $ 709 $ 10,597 Provision for (recapture of) loan losses (53 ) (76 ) (130 ) 2 172 63 22 - Charge-offs - - - - - (128 ) - (128 ) Recoveries 2 16 107 - - 23 - 148 Ending balance $ 1,340 $ 5,116 $ 196 $ 504 $ 840 $ 1,890 $ 731 $ 10,617 Six months ended September 30, 2017 Beginning balance $ 1,418 $ 5,084 $ 228 $ 297 $ 714 $ 2,099 $ 688 $ 10,528 Provision for (recapture of) loan losses (83 ) 16 (275 ) 207 126 (34 ) 43 - Charge-offs - - - - - (210 ) - (210 ) Recoveries 5 16 243 - - 35 - 299 Ending balance $ 1,340 $ 5,116 $ 196 $ 504 $ 840 $ 1,890 $ 731 $ 10,617 Three months ended September 30, 2016 Beginning balance $ 902 $ 4,473 $ 312 $ 671 $ 565 $ 2,327 $ 710 $ 9,960 Provision for (recapture of) loan losses 1 216 (264 ) (58 ) 162 (28 ) (29 ) - Charge-offs - - - - - (71 ) - (71 ) Recoveries 6 - 106 - - 62 - 174 Ending balance $ 909 $ 4,689 $ 154 $ 613 $ 727 $ 2,290 $ 681 $ 10,063 Six months ended September 30, 2016 Beginning balance $ 1,048 $ 4,273 $ 325 $ 712 $ 416 $ 2,403 $ 708 $ 9,885 Provision for (recapture of) loan losses (149 ) 414 (359 ) (99 ) 311 (91 ) (27 ) - Charge-offs - - - - - (115 ) - (115 ) Recoveries 10 2 188 - - 93 - 293 Ending balance $ 909 $ 4,689 $ 154 $ 613 $ 727 $ 2,290 $ 681 $ 10,063
Schedule of impaired financing receivables	Allowance for Loan Losses Recorded Investment In Loans September 30, 2017 Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Commercial business $ - $ 1,340 $ 1,340 $ 1,117 $ 117,327 $ 118,444 Commercial real estate 71 5,045 5,116 3,704 436,851 440,555 Land - 196 196 780 12,965 13,745 Multi-family - 504 504 1,669 44,413 46,082 Real estate construction - 840 840 - 53,878 53,878 Consumer 79 1,811 1,890 1,452 109,548 111,000 Unallocated - 731 731 - - - Total $ 150 $ 10,467 $ 10,617 $ 8,722 $ 774,982 $ 783,704 March 31, 2017 Commercial business $ - $ 1,418 $ 1,418 $ 294 $ 107,077 $ 107,371 Commercial real estate - 5,084 5,084 7,604 439,467 447,071 Land - 228 228 801 15,074 15,875 Multi-family - 297 297 1,692 42,023 43,715 Real estate construction - 714 714 - 46,157 46,157 Consumer 88 2,011 2,099 1,475 117,768 119,243 Unallocated - 688 688 - - - Total $ 88 $ 10,440 $ 10,528 $ 11,866 $ 767,566 $ 779,432
Schedule of analysis of loans by aging category	September 30, 2017 30-89 Days Past Due 90 Days and Greater Past Due Non-accrual Total Past Due and Non- accrual Current Total Loans Receivable Commercial business $ 20 $ - $ 290 $ 310 $ 118,134 $ 118,444 Commercial real estate - - 1,304 1,304 439,251 440,555 Land - - 780 780 12,965 13,745 Multi-family - - - - 46,082 46,082 Real estate construction - - - - 53,878 53,878 Consumer 183 - 371 554 110,446 111,000 Total $ 203 $ - $ 2,745 $ 2,948 $ 780,756 $ 783,704 March 31, 2017 Commercial business $ 13 $ - $ 294 $ 307 $ 107,064 $ 107,371 Commercial real estate - - 1,342 1,342 445,729 447,071 Land - - 801 801 15,074 15,875 Multi-family - - - - 43,715 43,715 Real estate construction - - - - 46,157 46,157 Consumer 228 34 278 540 118,703 119,243 Total $ 241 $ 34 $ 2,715 $ 2,990 $ 776,442 $ 779,432
Schedule of credit quality indicators	September 30, 2017 Pass Special Mention Substandard Doubtful Loss Total Loans Receivable Commercial business $ 113,792 $ 2,141 $ 2,511 $ - $ - $ 118,444 Commercial real estate 427,173 10,259 3,123 - - 440,555 Land 12,965 - 780 - - 13,745 Multi-family 45,530 541 11 - - 46,082 Real estate construction 53,878 - - - - 53,878 Consumer 110,629 - 371 - - 111,000 Total $ 763,967 $ 12,941 $ 6,796 $ - $ - $ 783,704 March 31, 2017 Commercial business $ 102,113 $ 2,063 $ 3,195 $ - $ - $ 107,371 Commercial real estate 430,923 10,426 5,722 - - 447,071 Land 15,074 - 801 - - 15,875 Multi-family 43,156 547 12 - - 43,715 Real estate construction 46,157 - - - - 46,157 Consumer 118,965 - 278 - - 119,243 Total $ 756,388 $ 13,036 $ 10,008 $ - $ - $ 779,432
Schedule of total and average recorded investment in impaired loans	September 30, 2017 Recorded Investment with No Specific Valuation Allowance Recorded Investment with Specific Valuation Allowance Total Recorded Investment Unpaid Principal Balance Related Specific Valuation Allowance Commercial business $ 1,117 $ - $ 1,117 $ 1,336 $ - Commercial real estate 2,609 1,095 3,704 4,628 71 Land 780 - 780 800 - Multi-family 1,669 - 1,669 1,797 - Consumer 300 1,152 1,452 1,565 79 Total $ 6,475 $ 2,247 $ 8,722 $ 10,126 $ 150 March 31, 2017 Commercial business $ 294 $ - $ 294 $ 301 $ - Commercial real estate 7,604 - 7,604 8,806 - Land 801 - 801 807 - Multi-family 1,692 - 1,692 1,826 - Consumer 306 1,169 1,475 1,611 88 Total $ 10,697 $ 1,169 $ 11,866 $ 13,351 $ 88 Three Months ended September 30, 2017 Three Months ended September 30, 2016 Average Recorded Investment Interest Recognized on Impaired Loans Average Recorded Investment Interest Recognized on Impaired Loans Commercial business $ 1,116 $ 4 $ 245 $ 6 Commercial real estate 3,723 31 9,463 97 Land 786 - 801 - Multi-family 1,675 22 1,715 24 Consumer 1,458 15 1,503 16 Total $ 8,758 $ 72 $ 13,727 $ 143 Six Months ended September 30, 2017 Six Months ended September 30, 2016 Average Recorded Investment Interest Recognized on Impaired Loans Average Recorded Investment Interest Recognized on Impaired Loans Commercial business $ 842 $ 23 $ 228 $ 9 Commercial real estate 5,017 61 9,576 194 Land 791 - 801 - Multi-family 1,680 46 1,720 47 Consumer 1,464 31 1,561 31 Total $ 9,794 $ 161 $ 13,886 $ 281
Schedule of TDRs by interest accrual status	September 30, 2017 March 31, 2017 Accrual Nonaccrual Total Accrual Nonaccrual Total Commercial business $ 827 $ 290 $ 1,117 $ - $ 294 $ 294 Commercial real estate 2,400 1,304 3,704 6,262 1,342 7,604 Land - 780 780 - 801 801 Multi-family 1,669 - 1,669 1,692 - 1,692 Consumer 1,452 - 1,452 1,475 - 1,475 Total $ 6,348 $ 2,374 $ 8,722 $ 9,429 $ 2,437 $ 11,866

GOODWILL (Tables)

GOODWILL (Tables)	6 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill	For the Six Months Ended September 30, 2017 For the Year Ended March 31, 2017 Net carrying value at beginning of period $ 27,076 $ 25,572 MBank Transaction (see Note 3) - 1,504 Net carrying value at the end of period $ 27,076 $ 27,076

JUNIOR SUBORDINATED DEBENTURES

JUNIOR SUBORDINATED DEBENTURES (Tables)	6 Months Ended
	Sep. 30, 2017
Junior Subordinated Debentures [Abstract]
Schedule of summary of the terms and amounts outstanding of the debentures	Issuance Trust Issuance Date Amount Outstanding Rate Type Initial Rate Current Rate Maturity Date Riverview Bancorp Statutory Trust I 12/2005 $ 7,217 Variable (1) 5.88 % 2.68 % 3/2036 Riverview Bancorp Statutory Trust II 06/2007 15,464 Variable (2) 7.03 % 2.67 % 9/2037 Merchants Bancorp Statutory Trust I (4) 06/2003 5,155 Variable (3) 4.16 % 4.43 % 6/2033 27,836 Fair value adjustment (4) (1,398 ) Total Debentures at fair value $ 26,438 (1) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.36%. (2) (3) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 3.10%. (4)

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of assets that are measured at estimated fair value on a recurring basis	Estimated Fair Value Measurements Using September 30, 2017 Total Estimated Fair Value Level 1 Level 2 Level 3 Investment securities available for sale: Municipal securities $ 6,341 $ - $ 6,341 $ - Agency securities 22,291 - 22,291 - Real estate mortgage investment conduits 39,657 - 39,657 - Residential mortgage-backed securities 88,160 - 88,160 - Other mortgage-backed securities 44,135 - 44,135 - Total assets measured at fair value on a recurring basis $ 200,584 $ - $ 200,584 $ - March 31, 2017 Investment securities available for sale: Municipal securities $ 2,819 $ - $ 2,819 $ - Agency securities 16,808 - 16,808 - Real estate mortgage investment conduits 43,160 - 43,160 - Residential mortgage-backed securities 96,611 - 96,611 - Other mortgage-backed securities 40,816 - 40,816 - Total assets measured at fair value on a recurring basis $ 200,214 $ - $ 200,214 $ -
Schedule of assets that are measured at estimated fair value on a nonrecurring basis	Estimated Fair Value Measurements Using September 30, 2017 Total Estimated Fair Value Level 1 Level 2 Level 3 Impaired loans $ 2,178 $ - $ - $ 2,178 March 31, 2017 Impaired loans $ 2,281 $ - $ - $ 2,281
Schedule of quantitative information about Level 3 inputs for financial instruments measured at fair value on a nonrecurring basis	Valuation Technique Significant Unobservable Inputs Range (1) Impaired loans Appraised value Adjustment for market conditions N/A (1)
Schedule of carrying amount and estimated fair value of financial instruments	September 30, 2017 Carrying Amount Level 1 Level 2 Level 3 Estimated Fair Value Assets: Cash and cash equivalents $ 76,245 $ 76,245 $ - $ - $ 76,245 Certificates of deposit held for investment 9,797 - 9,824 - 9,824 Loans held for sale 347 - 347 - 347 Investment securities available for sale 200,584 - 200,584 - 200,584 Investment securities held to maturity 46 - 47 - 47 Loans receivable, net 773,087 - - 746,616 746,616 FHLB stock 1,181 - 1,181 - 1,181 Liabilities: Demand and savings deposits 854,330 854,330 - - 854,330 Time deposits 135,969 - 135,118 - 135,118 Junior subordinated debentures 26,438 - - 13,913 13,913 Capital lease obligation 2,443 - 2,443 - 2,443 March 31, 2017 Assets: Cash and cash equivalents $ 64,613 $ 64,613 $ - $ - $ 64,613 Certificates of deposit held for investment 11,042 - 11,108 - 11,108 Loans held for sale 478 - 478 - 478 Investment securities available for sale 200,214 - 200,214 - 200,214 Investment securities held to maturity 64 - 66 - 66 Loans receivable, net 768,904 - - 731,996 731,996 FHLB stock 1,181 - 1,181 - 1,181 Liabilities: Demand and savings deposits 830,258 830,258 - - 830,258 Time deposits 149,800 - 148,574 - 148,574 Junior subordinated debentures 26,390 - - 13,284 13,284 Capital lease obligation 2,454 - 2,454 - 2,454

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of significant off-balance sheet commitments	Contract or Notional Amount Commitments to originate loans: Adjustable-rate $ 21,601 Fixed-rate 7,432 Standby letters of credit 2,494 Undisbursed loan funds and unused lines of credit 137,605 Total $ 169,132

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	1 Months Ended
	Feb. 17, 2017	Sep. 30, 2017	Mar. 31, 2017	Mar. 31, 2016
Liabilities assumed
Goodwill recognized		$ 27,076	$ 27,076	$ 25,572
Merchants Bancorp
Business Acquisition [Line Items]
Cash consideration transferred	$ 12,100
Merchants Bancorp | Book Value
Identifiable assets acquired
Cash and cash equivalents	27,196
Loans receivable	115,283
CDI	0
Premises and equipment	1,769
BOLI	2,113
Accrued interest receivable and other assets	431
Total identifiable assets acquired	146,792
Liabilities assumed
Deposits	130,572
Junior subordinated debentures	5,155
Accrued expenses and other liabilities	293
Total liabilities assumed	136,020
Total identifiable net assets acquired	10,772
Merchants Bancorp | Fair Value Adjustment
Identifiable assets acquired
Cash and cash equivalents	0
Loans receivable	(3,258)
CDI	1,363
Premises and equipment	399
BOLI	0
Accrued interest receivable and other assets	90
Total identifiable assets acquired	(1,406)
Liabilities assumed
Deposits	235
Junior subordinated debentures	(1,468)
Accrued expenses and other liabilities	23
Total liabilities assumed	(1,210)
Total identifiable net assets acquired	(196)
Merchants Bancorp | Estimated Fair Value
Business Acquisition [Line Items]
Cash consideration transferred	12,080
Identifiable assets acquired
Cash and cash equivalents	27,196
Loans receivable	112,025
CDI	1,363
Premises and equipment	2,168
BOLI	2,113
Accrued interest receivable and other assets	521
Total identifiable assets acquired	145,386
Liabilities assumed
Deposits	130,807
Junior subordinated debentures	3,687
Accrued expenses and other liabilities	316
Total liabilities assumed	134,810
Total identifiable net assets acquired	10,576
Goodwill recognized	$ 1,504

BUSINESS COMBINATIONS (Details

BUSINESS COMBINATIONS (Details 1) $ in Millions	1 Months Ended
	Feb. 17, 2017USD ($)
Merchants Bancorp
Business Acquisition [Line Items]
Cash consideration transferred	$ 12.1

STOCK PLANS AND STOCK-BASED C36

STOCK PLANS AND STOCK-BASED COMPENSATION: Information related to stock options outstanding (Details) - 2017 Equity Incentive Plan - $ / shares	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Number of Shares
Balance, beginning of period	220,654	223,654
Options exercised	(23,022)	0
Expired	(15,000)	0
Balance, end of period	182,632	223,654
Weighted Average Exercise Price
Balance, beginning of period	$ 4.74	$ 4.73
Options exercised	4.43	0
Expired	14.49	0
Balance, end of period	$ 3.98	$ 4.73

STOCK PLANS AND STOCK-BASED C37

STOCK PLANS AND STOCK-BASED COMPENSATION: Schedule of Stock Options Outstanding, less estimated forfeitures (Details 1) - 2017 Equity Incentive Plan - USD ($)	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Stock options fully vested and expected to vest:
Number	182,632	223,654
Weighted average exercise price	$ 3.98	$ 4.73
Aggregate intrinsic value	$ 817,000	$ 342,000
Weighted average contractual term of options (years)	3 years 2 months 12 days	3 years 10 months 2 days
Stock options fully vested and currently exercisable:
Number	182,632	223,654
Weighted average exercise price	$ 3.98	$ 4.73
Aggregate intrinsic value	$ 817,000	$ 342,000
Weighted average contractual term of options (years)	3 years 2 months 12 days	3 years 10 months 2 days

STOCK PLANS AND STOCK-BASED C38

STOCK PLANS AND STOCK-BASED COMPENSATION (Detail Textuals)	6 Months Ended
	Sep. 30, 2017
1998 Stock Option Plan ("1998 Plan")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award description	In July 1998, shareholders of the Company approved the adoption of the 1998 Stock Option Plan ("1998 Plan"). The 1998 Plan was effective October 1998 and expired in October 2008.
2003 Stock Option Plan ("2003 Plan")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award description	In July 2003, shareholders of the Company approved the adoption of the 2003 Stock Option Plan ("2003 Plan"). The 2003 Plan was effective in July 2003 and expired in July 2013.

STOCK PLANS AND STOCK-BASED C39

STOCK PLANS AND STOCK-BASED COMPENSATION (Detail Textuals 1) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2017	Jul. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of stock options exercised	$ 67,000
Method used	Black-Scholes stock option valuation model
1998 And 2003 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum term of stock options	10 years
1998 And 2003 Stock Option Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vesting period	0 years
1998 And 2003 Stock Option Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vesting period	5 years
2017 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved issuance under the 2017 Plan		1,800,000

EARNINGS PER SHARE_ Schedule of

EARNINGS PER SHARE: Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Basic EPS computation:
Numerator-net income	$ 3,059	$ 1,680	$ 5,713	$ 3,377
Denominator-weighted average common shares outstanding	22,518,941	22,474,019	22,511,935	22,470,957
Basic EPS	$ 0.14	$ 0.07	$ 0.25	$ 0.15
Diluted EPS computation:
Numerator-net income	$ 3,059	$ 1,680	$ 5,713	$ 3,377
Denominator-weighted average common shares outstanding	22,518,941	22,474,019	22,511,935	22,470,957
Effect of dilutive stock options	90,539	56,312	87,916	51,587
Weighted average common shares and common stock equivalents (in shares)	22,609,480	22,530,331	22,599,851	22,522,544
Diluted EPS (in dollars per share)	$ 0.14	$ 0.07	$ 0.25	$ 0.15

EARNINGS PER SHARE (Detail Text

EARNINGS PER SHARE (Detail Textuals) - shares	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Number of unallocated ESOP shares	24,633	49,266	24,633	49,266
Antidilutive securities excluded from computation of earnings per share, amount	9,000	59,000	14,000	59,000

INVESTMENT SECURITIES_ Investme

INVESTMENT SECURITIES: Investment Securities (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Mar. 31, 2017
Available for sale:
Amortized Cost		$ 202,294	$ 202,830
Gross Unrealized Gains		271	193
Gross Unrealized Losses		(1,981)	(2,809)
Estimated Fair Value		200,584	200,214
Municipal securities
Available for sale:
Amortized Cost		6,368	2,936
Gross Unrealized Gains		15
Gross Unrealized Losses		(42)	(117)
Estimated Fair Value		6,341	2,819
Agency securities
Available for sale:
Amortized Cost		22,404	16,993
Gross Unrealized Gains		22	18
Gross Unrealized Losses		(135)	(203)
Estimated Fair Value		22,291	16,808
Real estate mortgage investment conduits
Available for sale:
Amortized Cost	[1]	39,896	43,510
Gross Unrealized Gains	[1]	42	49
Gross Unrealized Losses	[1]	(281)	(399)
Estimated Fair Value	[1]	39,657	43,160
Residential mortgage-backed securities
Available for sale:
Amortized Cost	[1]	88,782	97,742
Gross Unrealized Gains	[1]	148	111
Gross Unrealized Losses	[1]	(770)	(1,242)
Estimated Fair Value	[1]	88,160	96,611
Held to maturity:
Amortized Cost	[2]	46	64
Gross Unrealized Gains	[2]	1	2
Estimated Fair Value	[2]	47	66
Other mortgage-backed securities
Available for sale:
Amortized Cost	[3]	44,844	41,649
Gross Unrealized Gains	[3]	44	15
Gross Unrealized Losses	[3]	(753)	(848)
Estimated Fair Value	[3]	$ 44,135	$ 40,816
[1]	Comprised of Federal Home Loan Mortgage Corporation ("FHLMC"), Federal National Mortgage Association ("FNMA") and Ginnie Mae ("GNMA") issued securities.
[2]	Comprised of FHLMC and FNMA issued securities.
[3]	Comprised of U.S. Small Business Administration ("SBA") issued securities and commercial real estate ("CRE") secured securities issued by FNMA.

INVESTMENT SECURITIES_ Invest43

INVESTMENT SECURITIES: Investments Classified by Contractual Maturity Date (Details 1) $ in Thousands	Sep. 30, 2017USD ($)
Available for sale:
Due in one year or less, Amortized Cost	$ 5,000
Due in one year or less, Estimated Fair Value	4,990
Due after one year through five years, Amortized Cost	11,480
Due after one year through five years, Estimated Fair Value	11,479
Due after five years through ten years, Amortized Cost	42,426
Due after five years through ten years, Estimated Fair Value	42,059
Due after ten years, Amortized Cost	143,388
Due after ten years, Estimated Fair Value	142,056
Total, Amortized Cost	202,294
Total, Estimated Fair Value	200,584
Held to maturity:
Due after one year through five years, Amortized Cost	7
Due after one year through five years, Estimated Fair Value	7
Due after five years through ten years, Amortized Cost	34
Due after five years through ten years, Estimated Fair Value	35
Due after ten years, Amortized Cost	5
Due after ten years, Estimated Fair Value	5
Total, Amortized Cost	46
Total, Estimated Fair Value	$ 47

INVESTMENT SECURITIES_ Schedule

INVESTMENT SECURITIES: Schedule of Temporarily Impaired Securities, Fair Value and Unrealized losses (Details 2) - USD ($) $ in Thousands		Sep. 30, 2017		Mar. 31, 2017
Available for sale:
Less than 12 months, Estimated Fair Value		$ 137,486		$ 161,967
Less than 12 months, Unrealized Losses		(1,693)		(2,754)
12 months or longer, Estimated Fair Value		17,429		3,442
12 months or longer, Unrealized Losses		(288)		(55)
Total, Estimated Fair Value		154,915		165,409
Total, Unrealized Losses		(1,981)		(2,809)
Municipal securities
Available for sale:
Less than 12 months, Estimated Fair Value		4,140		2,819
Less than 12 months, Unrealized Losses		(42)		(117)
Total, Estimated Fair Value		4,140		2,819
Total, Unrealized Losses		(42)		(117)
Agency securities
Available for sale:
Less than 12 months, Estimated Fair Value		16,274		15,785
Less than 12 months, Unrealized Losses		(125)		(203)
12 months or longer, Estimated Fair Value		4,990
12 months or longer, Unrealized Losses		(10)
Total, Estimated Fair Value		21,264		15,785
Total, Unrealized Losses		(135)		(203)
Real estate mortgage investment conduits
Available for sale:
Less than 12 months, Estimated Fair Value		26,962	[1]	32,221	[2]
Less than 12 months, Unrealized Losses		(281)	[1]	(399)	[2]
Total, Estimated Fair Value		26,962	[1]	32,221	[2]
Total, Unrealized Losses		(281)	[1]	(399)	[2]
Residential mortgage-backed securities
Available for sale:
Less than 12 months, Estimated Fair Value	[1]	58,627		74,388
Less than 12 months, Unrealized Losses	[1]	(655)		(1,232)
12 months or longer, Estimated Fair Value	[1]	5,481		602
12 months or longer, Unrealized Losses	[1]	(115)		(10)
Total, Estimated Fair Value	[1]	64,108		74,990
Total, Unrealized Losses	[1]	(770)		(1,242)
Other mortgage-backed securities
Available for sale:
Less than 12 months, Estimated Fair Value		31,483	[3]	36,754	[4]
Less than 12 months, Unrealized Losses		(590)	[3]	(803)	[4]
12 months or longer, Estimated Fair Value		6,958	[3]	2,840	[4]
12 months or longer, Unrealized Losses		(163)	[3]	(45)	[4]
Total, Estimated Fair Value		38,441	[3]	39,594	[4]
Total, Unrealized Losses		$ (753)	[3]	$ (848)	[4]
[1]	Comprised of FHLMC, FNMA and GNMA issued securities.
[2]	Comprised of FHLMC and FNMA issued securities.
[3]	Comprised of SBA issued and CRE secured securities issued by FHLMC.
[4]	Comprised of SBA issued and CRE secured securities issued by FNMA.

INVESTMENT SECURITIES (Detail T

INVESTMENT SECURITIES (Detail Textuals) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Mar. 31, 2017
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Investment securities gross realized gains from sales	$ 0	$ 0	$ 0	$ 0
Available-for-sale Securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Pledged as collateral at amortized cost	4,100,000		4,100,000		$ 11,100,000
Pledged as collateral at fair value	$ 4,100,000		$ 4,100,000		11,100,000
Held-to-maturity Securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Pledged as collateral at amortized cost					20,000
Pledged as collateral at fair value					$ 20,000

LOANS RECEIVABLE_ Schedule of A

LOANS RECEIVABLE: Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans		$ 783,704	$ 779,432
Less: Allowance for loan losses		10,617	10,528
Loans receivable, net		773,087	768,904
Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans		118,444	107,371
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans		440,555	447,071
Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans		13,745	15,875
Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans		46,082	43,715
Real Estate Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans		53,878	46,157
Commercial and construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans		672,704	660,189
Real estate one-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans		90,764	92,865
Other installment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	[1]	20,236	26,378
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans		$ 111,000	$ 119,243
[1]	Consists primarily of purchased automobile loans totaling $17.5 million and $23.6 million at September 30, 2017 and March 31, 2017, respectively.

LOANS RECEIVABLE (Detail Textua

LOANS RECEIVABLE (Detail Textuals) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2017	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans pledged as collateral	$ 523,800
Loans receivable, net of discount amount	1,300	$ 2,000
Net deferred loan fees	3,300	3,200
Financing receivable gross	$ 783,704	779,432
Percentage of loans and extensions of credit outstanding	15.00%
Automobile loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable gross	$ 17,500	$ 23,600

ALLOWANCE FOR LOAN LOSSES_ Sche

ALLOWANCE FOR LOAN LOSSES: Schedule of reconciliation of the allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 10,597	$ 9,960	$ 10,528	$ 9,885
Charge-offs	(128)	(71)	(210)	(115)
Recoveries	148	174	299	293
Ending balance	10,617	10,063	10,617	10,063
Commercial Business
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	1,391	902	1,418	1,048
Provision for (recapture of) loan losses	(53)	1	(83)	(149)
Recoveries	2	6	5	10
Ending balance	1,340	909	1,340	909
Commercial Real Estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	5,176	4,473	5,084	4,273
Provision for (recapture of) loan losses	(76)	216	16	414
Recoveries	16		16	2
Ending balance	5,116	4,689	5,116	4,689
Land
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	219	312	228	325
Provision for (recapture of) loan losses	(130)	(264)	(275)	(359)
Recoveries	107	106	243	188
Ending balance	196	154	196	154
Multi-Family
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	502	671	297	712
Provision for (recapture of) loan losses	2	(58)	207	(99)
Ending balance	504	613	504	613
Real Estate Construction
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	668	565	714	416
Provision for (recapture of) loan losses	172	162	126	311
Ending balance	840	727	840	727
Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	1,932	2,327	2,099	2,403
Provision for (recapture of) loan losses	63	(28)	(34)	(91)
Charge-offs	(128)	(71)	(210)	(115)
Recoveries	23	62	35	93
Ending balance	1,890	2,290	1,890	2,290
Unallocated
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	709	710	688	708
Provision for (recapture of) loan losses	22	(29)	43	(27)
Ending balance	$ 731	$ 681	$ 731	$ 681

ALLOWANCE FOR LOAN LOSSES_ Sc49

ALLOWANCE FOR LOAN LOSSES: Schedule of Impaired Financing Receivables (Details 1) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Allowance for loan losses
Individually Evaluated for Impairment	$ 150	$ 88
Collectively Evaluated for Impairment	10,467	10,440
Total	10,617	10,528
Recorded investment in loans
Individually Evaluated for Impairment	8,722	11,866
Collectively Evaluated for Impairment	774,982	767,566
Total	783,704	779,432
Commercial Business
Allowance for loan losses
Collectively Evaluated for Impairment	1,340	1,418
Total	1,340	1,418
Recorded investment in loans
Individually Evaluated for Impairment	1,117	294
Collectively Evaluated for Impairment	117,327	107,077
Total	118,444	107,371
Commercial Real Estate
Allowance for loan losses
Individually Evaluated for Impairment	71
Collectively Evaluated for Impairment	5,045	5,084
Total	5,116	5,084
Recorded investment in loans
Individually Evaluated for Impairment	3,704	7,604
Collectively Evaluated for Impairment	436,851	439,467
Total	440,555	447,071
Land
Allowance for loan losses
Collectively Evaluated for Impairment	196	228
Total	196	228
Recorded investment in loans
Individually Evaluated for Impairment	780	801
Collectively Evaluated for Impairment	12,965	15,074
Total	13,745	15,875
Multi-Family
Allowance for loan losses
Collectively Evaluated for Impairment	504	297
Total	504	297
Recorded investment in loans
Individually Evaluated for Impairment	1,669	1,692
Collectively Evaluated for Impairment	44,413	42,023
Total	46,082	43,715
Real Estate Construction
Allowance for loan losses
Collectively Evaluated for Impairment	840	714
Total	840	714
Recorded investment in loans
Collectively Evaluated for Impairment	53,878	46,157
Total	53,878	46,157
Consumer
Allowance for loan losses
Individually Evaluated for Impairment	79	88
Collectively Evaluated for Impairment	1,811	2,011
Total	1,890	2,099
Recorded investment in loans
Individually Evaluated for Impairment	1,452	1,475
Collectively Evaluated for Impairment	109,548	117,768
Total	111,000	119,243
Unallocated
Allowance for loan losses
Collectively Evaluated for Impairment	731	688
Total	$ 731	$ 688

ALLOWANCE FOR LOAN LOSSES_ Fina

ALLOWANCE FOR LOAN LOSSES: Financing Receivables, Aging of Loans (Details 2) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	$ 2,745	$ 2,715
Total Past Due and Non-accrual	2,948	2,990
Current	780,756	776,442
Total Loans Receivable	783,704	779,432
30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	203	241
90 Days and Greater Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		34
Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	290	294
Total Past Due and Non-accrual	310	307
Current	118,134	107,064
Total Loans Receivable	118,444	107,371
Commercial Business | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	20	13
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	1,304	1,342
Total Past Due and Non-accrual	1,304	1,342
Current	439,251	445,729
Total Loans Receivable	440,555	447,071
Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	780	801
Total Past Due and Non-accrual	780	801
Current	12,965	15,074
Total Loans Receivable	13,745	15,875
Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current	46,082	43,715
Total Loans Receivable	46,082	43,715
Real Estate Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current	53,878	46,157
Total Loans Receivable	53,878	46,157
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	371	278
Total Past Due and Non-accrual	554	540
Current	110,446	118,703
Total Loans Receivable	111,000	119,243
Consumer | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	$ 183	228
Consumer | 90 Days and Greater Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due		$ 34

ALLOWANCE FOR LOAN LOSSES_ Sc51

ALLOWANCE FOR LOAN LOSSES: Schedule of Credit Quality Indicators (Details 3) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	$ 783,704	$ 779,432
Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	763,967	756,388
Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	12,941	13,036
Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	6,796	10,008
Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	118,444	107,371
Commercial Business | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	113,792	102,113
Commercial Business | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	2,141	2,063
Commercial Business | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	2,511	3,195
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	440,555	447,071
Commercial Real Estate | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	427,173	430,923
Commercial Real Estate | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	10,259	10,426
Commercial Real Estate | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	3,123	5,722
Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	13,745	15,875
Land | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	12,965	15,074
Land | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	780	801
Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	46,082	43,715
Multi-Family | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	45,530	43,156
Multi-Family | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	541	547
Multi-Family | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	11	12
Real Estate Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	53,878	46,157
Real Estate Construction | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	53,878	46,157
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	111,000	119,243
Consumer | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	110,629	118,965
Consumer | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	$ 371	$ 278

ALLOWANCE FOR LOAN LOSSES_ Impa

ALLOWANCE FOR LOAN LOSSES: Impaired Financing Receivables (Details 4) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	$ 6,475	$ 10,697
Recorded Investment with Specific Valuation Allowance	2,247	1,169
Total Recorded Investment	8,722	11,866
Unpaid Principal Balance	10,126	13,351
Related Specific Valuation Allowance	150	88
Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	1,117	294
Total Recorded Investment	1,117	294
Unpaid Principal Balance	1,336	301
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	2,609	7,604
Recorded Investment with Specific Valuation Allowance	1,095
Total Recorded Investment	3,704	7,604
Unpaid Principal Balance	4,628	8,806
Related Specific Valuation Allowance	71
Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	780	801
Total Recorded Investment	780	801
Unpaid Principal Balance	800	807
Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	1,669	1,692
Total Recorded Investment	1,669	1,692
Unpaid Principal Balance	1,797	1,826
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	300	306
Recorded Investment with Specific Valuation Allowance	1,152	1,169
Total Recorded Investment	1,452	1,475
Unpaid Principal Balance	1,565	1,611
Related Specific Valuation Allowance	$ 79	$ 88

ALLOWANCE FOR LOAN LOSSES_ Sc53

ALLOWANCE FOR LOAN LOSSES: Schedule of Impaired Loans, Average Recorded Investment and Interest Recognized (Details 5) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	$ 8,758	$ 13,727	$ 9,794	$ 13,886
Interest Recognized on Impaired Loans	72	143	161	281
Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	1,116	245	842	228
Interest Recognized on Impaired Loans	4	6	23	9
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	3,723	9,463	5,017	9,576
Interest Recognized on Impaired Loans	31	97	61	194
Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	786	801	791	801
Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	1,675	1,715	1,680	1,720
Interest Recognized on Impaired Loans	22	24	46	47
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	1,458	1,503	1,464	1,561
Interest Recognized on Impaired Loans	$ 15	$ 16	$ 31	$ 31

ALLOWANCE FOR LOAN LOSSES_ Sc54

ALLOWANCE FOR LOAN LOSSES: Schedule of TDRs by Interest Accrual Status (Details 6) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual	$ 6,348	$ 9,429
Nonaccrual	2,374	2,437
Total	8,722	11,866
Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual	827
Nonaccrual	290	294
Total	1,117	294
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual	2,400	6,262
Nonaccrual	1,304	1,342
Total	3,704	7,604
Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	780	801
Total	780	801
Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual	1,669	1,692
Total	1,669	1,692
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual	1,452	1,475
Total	$ 1,452	$ 1,475

ALLOWANCE FOR LOAN LOSSES (Deta

ALLOWANCE FOR LOAN LOSSES (Detail Textuals)	6 Months Ended
	Sep. 30, 2017USD ($)TDR	Sep. 30, 2016USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, impaired, description	A loan is impaired include, but are not limited to, whether the loan is 90 days or more delinquent, internally designated as substandard or worse, on non-accrual status or represents a TDR.
Financing receivable, modifications, nature and extent of transaction	TDRs are loans for which the Company, for economic or legal reasons related to the borrower's financial condition, has granted a concession to the borrower that it would otherwise not consider. A TDR typically involves a modification of terms such as a reduction of the stated interest rate or face amount of the loan, a reduction of accrued interest, and/or an extension of the maturity date(s) at a stated interest rate lower than the current market rate for a new loan with similar risk.
Percentage of delinquent loan amount	75.00%
Interest income foregone on non-accrual loans	$ 52,000	$ 33,000
Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Pre-modification outstanding recorded investment amount		116,000
post-modification outstanding recorded investment amount		$ 111,000
TDR loan default	$ 290,000
Number of TDR loans default | TDR	2
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR loan default	$ 1,300,000
Number of TDR loans default | TDR	2

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Sep. 30, 2017	Mar. 31, 2017
Goodwill [Roll Forward]
Net carrying value at beginning of period	$ 27,076	$ 25,572
MBank Transaction (see Note 3)	0	1,504
Net carrying value at the end of period	$ 27,076	$ 27,076

JUNIOR SUBORDINATED DEBENTURES_

JUNIOR SUBORDINATED DEBENTURES: Schedule of terms of the current Debentures (Details) - USD ($) $ in Thousands		6 Months Ended
		Sep. 30, 2017	Mar. 31, 2017
Debt Instrument [Line Items]
Amount Outstanding		$ 27,836
Fair value adjustment	[1]	(1,398)
Junior subordinated debentures		$ 26,438	$ 26,390
Riverview Bancorp Statutory Trust I
Debt Instrument [Line Items]
Issuance Date		12/2005
Amount Outstanding		$ 7,217
Rate Type	[2]	Variable
Initial Rate		5.88%
Current Rate		2.68%
Maturity Date		3/2036
Riverview Bancorp Statutory Trust II
Debt Instrument [Line Items]
Issuance Date		06/2007
Amount Outstanding		$ 15,464
Rate Type	[3]	Variable
Initial Rate		7.03%
Current Rate		2.67%
Maturity Date		9/2037
Merchants Bancorp Statutory Trust I
Debt Instrument [Line Items]
Issuance Date	[1]	06/2003
Amount Outstanding	[1]	$ 5,155
Rate Type	[1],[4]	Variable
Initial Rate	[1]	4.16%
Current Rate	[1]	4.43%
Maturity Date	[1]	6/2033
[1]	Amount, net of accretion, attributable to the MBank transaction. (See Note 3).
[2]	The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.36%.
[3]	The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.35%.
[4]	The trust preferred securities reprice quarterly based on the three-month LIBOR plus 3.10%.

JUNIOR SUBORDINATED DEBENTURE58

JUNIOR SUBORDINATED DEBENTURES (Detail Textuals) - USD ($)	6 Months Ended
	Sep. 30, 2017	Mar. 31, 2017
Debt Instrument [Line Items]
Debentures issued to grantor trusts	$ 26,400,000	$ 26,400,000
Common securities issued by grantor trusts	$ 836,000	$ 836,000
Riverview Bancorp Statutory Trust I
Debt Instrument [Line Items]
Interest basis spread on variable rate	1.36%
Description of variable rate	three-month LIBOR
Riverview Bancorp Statutory Trust II
Debt Instrument [Line Items]
Interest basis spread on variable rate	1.35%
Description of variable rate	three-month LIBOR
Merchants Bancorp Statutory Trust I
Debt Instrument [Line Items]
Interest basis spread on variable rate	3.10%
Description of variable rate	three-month LIBOR

FAIR VALUE MEASUREMENTS_ Schedu

FAIR VALUE MEASUREMENTS: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a nonrecurring basis	$ 200,584	$ 200,214
Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a nonrecurring basis	6,341	2,819
Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a nonrecurring basis	22,291	16,808
Real estate mortgage investment conduits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a nonrecurring basis	39,657	43,160
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a nonrecurring basis	88,160	96,611
Other mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a nonrecurring basis	44,135	40,816
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a nonrecurring basis	200,584	200,214
Level 2 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a nonrecurring basis	6,341	2,819
Level 2 | Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a nonrecurring basis	22,291	16,808
Level 2 | Real estate mortgage investment conduits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a nonrecurring basis	39,657	43,160
Level 2 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a nonrecurring basis	88,160	96,611
Level 2 | Other mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a nonrecurring basis	$ 44,135	$ 40,816

FAIR VALUE MEASUREMENTS_ Sche60

FAIR VALUE MEASUREMENTS: Schedule of Assets measured at fair value on a non-recurring basis (Details 1) - Impaired loans - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total nonrecurring assets measured at fair value	$ 2,178	$ 2,281
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total nonrecurring assets measured at fair value	$ 2,178	$ 2,281

FAIR VALUE MEASUREMENTS_ Fair V

FAIR VALUE MEASUREMENTS: Fair Value Measurements, Nonrecurring, Valuation Techniques (Details 2)		6 Months Ended	12 Months Ended
		Sep. 30, 2017	Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurements, Valuation Techniques		Appraised value	Appraised value
Significant unobservable inputs		Adjustment for market conditions	Adjustment for market conditions
Market adjustment to appraisals	[1]	0.00%	0.00%
[1]	There were no adjustments to appraised values of impaired loans as of September 30, 2017 and March 31, 2017, respectively.

FAIR VALUE MEASUREMENTS_ Fair62

FAIR VALUE MEASUREMENTS: Fair Value, Option, Quantitative Disclosures (Details 3) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Estimated Fair Value | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	$ 76,245	$ 64,613
Estimated Fair Value | Certificates of deposit held for investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	9,824	11,108
Estimated Fair Value | Loans held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	347	478
Estimated Fair Value | Investment securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	200,584	200,214
Estimated Fair Value | Investment securities held to maturity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	47	66
Estimated Fair Value | Loans receivable, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	746,616	731,996
Estimated Fair Value | FHLB stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	1,181	1,181
Estimated Fair Value | Demand and savings deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Liabilities	854,330	830,258
Estimated Fair Value | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Liabilities	135,118	148,574
Estimated Fair Value | Junior subordinated debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Liabilities	13,913	13,284
Estimated Fair Value | Capital lease obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Liabilities	2,443	2,454
Carrying Amount | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	76,245	64,613
Carrying Amount | Certificates of deposit held for investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	9,797	11,042
Carrying Amount | Loans held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	347	478
Carrying Amount | Investment securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	200,584	200,214
Carrying Amount | Investment securities held to maturity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	46	64
Carrying Amount | Loans receivable, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	773,087	768,904
Carrying Amount | FHLB stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	1,181	1,181
Carrying Amount | Demand and savings deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Liabilities	854,330	830,258
Carrying Amount | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Liabilities	135,969	149,800
Carrying Amount | Junior subordinated debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Liabilities	26,438	26,390
Carrying Amount | Capital lease obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Liabilities	2,443	2,454
Level 1 | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	76,245	64,613
Level 1 | Demand and savings deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Liabilities	854,330	830,258
Level 2 | Certificates of deposit held for investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	9,824	11,108
Level 2 | Loans held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	347	478
Level 2 | Investment securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	200,584	200,214
Level 2 | Investment securities held to maturity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	47	66
Level 2 | FHLB stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	1,181	1,181
Level 2 | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Liabilities	135,118	148,574
Level 2 | Capital lease obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Liabilities	2,443	2,454
Level 3 | Loans receivable, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Assets	746,616	731,996
Level 3 | Junior subordinated debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of Liabilities	$ 13,913	$ 13,284

COMMITMENTS AND CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES: Schedule of significant off-balance sheet commitments (Details) $ in Thousands	Sep. 30, 2017USD ($)
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Contract or Notional Amount	$ 169,132
Commitments to originate loans: | Adjustable-rate
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Contract or Notional Amount	21,601
Commitments to originate loans: | Fixed-rate
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Contract or Notional Amount	7,432
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Contract or Notional Amount	2,494
Undisbursed loan funds and unused lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Contract or Notional Amount	$ 137,605

COMMITMENTS AND CONTINGENCIES64

COMMITMENTS AND CONTINGENCIES (Detail Textuals)	6 Months Ended
	Sep. 30, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Commitments to sell	$ 1,800,000
Loans under warranty	119,400,000
Allowance for FHLMC loans	$ 13,000