Riverview Bancorp (RVSB) 10-K 17 Jun 20 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2020	Jun. 17, 2020	Sep. 30, 2019
Document and Entity Information:
Document Type	10-K
Document Period End Date	Mar. 31, 2020
Entity Registrant Name	RIVERVIEW BANCORP INC
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 167,883,081
Entity Common Stock, Shares Outstanding		22,253,385
Entity Central Index Key	0001041368
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Trading Symbol	rvsb

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
ASSETS
Cash and cash equivalents (including interest-earning accounts of $27,866 and $5,844)	$ 41,968	$ 22,950
Certificates of deposit held for investment	249	747
Loans held for sale	275	909
Investment securities:
Available for sale, at estimated fair value	148,291	178,226
Held to maturity, at amortized cost (estimated fair value of $28 and $35)	28	35
Loans receivable (net of allowance for loan losses of $12,624 and $11,457)	898,885	864,659
Prepaid expenses and other assets	7,452	4,596
Accrued interest receivable	3,704	3,919
Federal Home Loan Bank ("FHLB") stock, at cost	1,420	3,644
Premises and equipment, net	17,078	15,458
Deferred income taxes, net	3,277	4,195
Mortgage servicing rights, net	191	296
Goodwill	27,076	27,076
Core deposit intangible ("CDI"), net	759	920
Bank owned life insurance ("BOLI")	30,155	29,291
TOTAL ASSETS	1,180,808	1,156,921
LIABILITIES:
Deposits	990,448	925,068
Accrued expenses and other liabilities	11,783	12,536
Advanced payments by borrowers for taxes and insurance	703	631
FHLB advances		56,586
Junior subordinated debentures	26,662	26,575
Finance lease liability	2,369	2,403
Total liabilities	1,031,965	1,023,799
COMMITMENTS AND CONTINGENCIES (See Note 17)
SHAREHOLDERS' EQUITY:
Serial preferred stock, $.01 par value; 250,000 shares authorized; issued and outstanding: none
Common stock, $.01 par value; 50,000,000 shares authorized March 31, 2020 - 22,748,385 shares issued and 22,544,285 shares outstanding March 31, 2019 - 22,607,712 shares issued and outstanding	225	226
Additional paid-in capital	64,649	65,094
Retained earnings	81,870	70,428
Accumulated other comprehensive income (loss)	2,099	(2,626)
Total shareholders' equity	148,843	133,122
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,180,808	$ 1,156,921

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
CONSOLIDATED BALANCE SHEETS
Interest-earning accounts included in cash (in dollars)	$ 27,866	$ 5,844
Fair value of mortgage-backed securities held to maturity (in dollars)	28	35
Allowance for loan losses (in dollars)	$ 12,624	$ 11,457
Serial preferred stock, par value (in dollars 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 (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	22,748,385	22,607,712
Common stock, shares outstanding	22,544,285	22,607,712

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
INTEREST AND DIVIDEND INCOME:
Interest and fees on loans receivable	$ 46,405	$ 44,938	$ 40,013
Interest on investment securities - taxable	3,440	4,456	4,648
Interest on investment securities - nontaxable	117	146	95
Other interest and dividends	533	329	558
Total interest and dividend income	50,495	49,869	45,314
INTEREST EXPENSE:
Interest on deposits	2,890	996	1,208
Interest on borrowings	1,874	1,819	1,141
Total interest expense	4,764	2,815	2,349
Net interest income	45,731	47,054	42,965
Provision for loan losses	1,250	50
Net interest income after provision for loan losses	44,481	47,004	42,965
NON-INTEREST INCOME:
Net gains on sales of loans held for sale	252	317	641
BOLI	864	734	819
Other, net	295	317	317
Total non-interest income, net	12,360	11,107	10,650
NON-INTEREST EXPENSE:
Salaries and employee benefits	22,805	22,320	21,743
Occupancy and depreciation	5,576	5,334	5,454
Data processing	2,629	2,467	2,313
Amortization of CDI	161	183	232
Advertising and marketing	856	769	747
FDIC insurance premium	81	326	476
State and local taxes	675	651	605
Telecommunications	327	353	417
Professional fees	1,120	1,426	1,181
Other	2,033	1,870	2,450
Total non-interest expense	36,263	35,699	35,618
INCOME BEFORE INCOME TAXES	20,578	22,412	17,997
PROVISION FOR INCOME TAXES	4,830	5,146	7,755
NET INCOME	$ 15,748	$ 17,266	$ 10,242
Earnings per common share:
Basic (in dollars per share)	$ 0.70	$ 0.76	$ 0.45
Diluted (in dollars per share)	$ 0.69	$ 0.76	$ 0.45
Weighted average number of common shares outstanding:
Basic (in shares)	22,642,795	22,588,395	22,531,480
Diluted (in shares)	22,698,415	22,659,594	22,623,455
Fees and service charges
NON-INTEREST INCOME:
Non-interest income	$ 6,541	$ 5,948	$ 5,425
Asset management fees
NON-INTEREST INCOME:
Non-interest income	$ 4,408	$ 3,791	$ 3,448

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 15,748	$ 17,266	$ 10,242
Other comprehensive income (loss):
Net unrealized holding gain (loss) from available for sale investment securities arising during the period, net of tax of ($1,499), ($629) and $871, respectively	4,748	2,122	(2,719)
Reclassification adjustment of net gain from sale of available for sale investment securities included in income, net of tax of $7, $0 and $0, respectively	(23)
Total other comprehensive income (loss), net	4,725	2,122	(2,719)
Total comprehensive income, net	$ 20,473	$ 19,388	$ 7,523

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Tax effect of unrealized holding gain (loss) from available for sale securities	$ (1,499)	$ (629)	$ 871
Tax effect of reclassification adjustment of net gain from sale of available for sale investment securities included in income	$ 7	$ 0	$ 0

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings	Unearned Shares Issued to Employee Stock Ownership Plan ("ESOP")	Accumulated Other Comprehensive Income (Loss)	Total
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			10,242			10,242
Cash dividend on common stock			(2,367)			(2,367)
Exercise of stock options	$ 1	244				$ 245
Exercise of stock options (in shares)	59,289					59,289
Earned ESOP shares		71		$ 77		$ 148
Stock-based compensation expense		88				88
Reclassification of certain stranded income tax effects as a result of change in federal corporate income tax rate			342		(342)
Other comprehensive income, net					(2,719)	(2,719)
Balance at Mar. 31, 2018	$ 226	64,871	56,552		(4,748)	116,901
Balance (in shares) at Mar. 31, 2018	22,570,179
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			17,266			17,266
Cash dividend on common stock			(3,390)			(3,390)
Exercise of stock options		(179)				$ (179)
Exercise of stock options (in shares)	37,533					37,533
Stock-based compensation expense		44				$ 44
Other comprehensive income, net					2,122	2,122
Balance at Mar. 31, 2019	$ 226	65,094	70,428		(2,626)	133,122
Balance (in shares) at Mar. 31, 2019	22,607,712
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			15,748			15,748
Cash dividend on common stock			(4,306)			(4,306)
Exercise of stock options	$ 1	226				$ 227
Exercise of stock options (in shares)	58,000					58,000
Stock repurchased	$ (2)	(1,017)				$ (1,019)
Stock repurchased (in shares)	(204,100)
Restricted stock grants (in shares)	82,673
Stock-based compensation expense		346				346
Other comprehensive income, net					4,725	4,725
Balance at Mar. 31, 2020	$ 225	$ 64,649	$ 81,870		$ 2,099	$ 148,843
Balance (in shares) at Mar. 31, 2020	22,544,285

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parentheticals) - $ / shares	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
Dividend per share (in dollars per share)	$ 0.19	$ 0.15	$ 0.105

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 15,748	$ 17,266	$ 10,242
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,963	2,718	2,917
Purchased loans amortization (accretion), net	53	(147)	(277)
Provision for loan losses	1,250	50
Provision (benefit) for deferred income taxes	(574)	(11)	3,668
Expense related to ESOP			148
Stock-based compensation expense	346	44	88
Increase in deferred loan origination fees, net of amortization	138	498	498
Origination of loans held for sale	(8,941)	(11,105)	(20,502)
Proceeds from sales of loans held for sale	9,743	10,579	21,204
Net gains on sales of loans held for sale, sales of investment securities, sales of real estate owned ("REO") and sales of premises and equipment	(355)	(682)	(725)
Income from BOLI	(864)	(734)	(819)
Changes in certain other assets and liabilities:
Prepaid expenses and other assets	2,622	(868)	(212)
Accrued interest receivable	215	(442)	(536)
Accrued expenses and other liabilities	(6,427)	2,988	(3,755)
Net cash provided by operating activities	15,917	20,154	11,939
CASH FLOWS FROM INVESTING ACTIVITIES:
Loan repayments (originations), net	(11,786)	(34,427)	11,156
Purchases of loans receivable	(23,818)	(29,929)	(43,016)
Principal repayments on investment securities available for sale	28,371	26,519	28,569
Purchases of investment securities available for sale	(18,125)		(47,494)
Proceeds from calls, maturities and sales of investment securities available for sale	24,623	10,000	950
Principal repayments on investment securities held to maturity	7	7	22
Purchases of premises and equipment	(2,953)	(1,046)	(753)
Redemption of certificates of deposit held for investment	498	5,220	5,075
Redemption (purchases) of FHLB stock, net	(2,224)	(2,291)	(172)
Proceeds from sales of REO and premises and equipment	81	976	81
Net cash used in investing activities	(878)	(24,971)	(45,582)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase (decrease) in deposits	65,394	(70,568)	15,771
Dividends paid	(4,075)	(3,163)	(2,140)
Proceeds from borrowings	224,897	326,956	55,980
Repayment of borrowings	(281,483)	(270,370)	(55,980)
Net increase (decrease) in advance payments by borrowers for taxes and insurance	72	(6)	(56)
Principal payments on finance lease liability	(34)	(28)	(23)
Proceeds from exercise of stock options	227	179	245
Repurchase of common stock	(1,019)
Net cash provided by (used in) financing activities	3,979	(17,000)	13,797
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	19,018	(21,817)	(19,846)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	22,950	44,767	64,613
CASH AND CASH EQUIVALENTS, END OF YEAR	41,968	22,950	44,767
Cash paid during the year for:
Interest	4,576	2,686	2,176
Income taxes	4,438	6,877	3,280
NONCASH INVESTING AND FINANCING ACTIVITIES:
Dividends declared and accrued in other liabilities	1,135	904	677
Other comprehensive income (loss)	6,217	2,751	(3,590)
Income tax effect related to other comprehensive income (loss)	(1,492)	$ (629)	$ 871
Recognition of right-of-use lease assets and operating lease liabilities (See Note 18)	$ 5,603

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation – The accompanying consolidated financial statements include the accounts of Riverview Bancorp, Inc.; its wholly-owned subsidiary, Riverview Community Bank (the "Bank"); the Bank’s wholly-owned subsidiary, Riverview Services, Inc., and the Bank's majority-owned subsidiary, Riverview Trust Company (the "Trust Company") (collectively referred to as the "Company"). All inter-company transactions and balances have been eliminated in consolidation. For the period from April 1, 2017 through December 2019, the Trust Company was a wholly-owned subsidiary of the Bank. In December 2019, the Trust Company issued 1,500 shares of Trust Company stock in conjunction with the exercise of 1,500 Trust Company stock options by the Trust Company's President and Chief Executive Officer . As a result of this transaction, the Bank's ownership in the Trust Company decreased from 100% to 98%, resulting in a noncontrolling interest. The noncontrolling interest was $107,000 as of March 31, 2020, and net income attributable to the noncontrolling interest was $5,000 for the year ended March 31, 2020. These amounts are not presented separately in the accompanying consolidated financial statements due to their insignificance. The Company has three subsidiary grantor trusts which were established in connection with the issuance of trust preferred securities (see Note 10). In accordance with accounting principles generally accepted in the United States of America ("generally accepted accounting principles" or “GAAP”), the accounts and transactions of the trusts are not included in the accompanying consolidated financial statements. Nature of Operations – The Bank is a community-oriented financial institution which operates 18 branches in rural and suburban communities in southwest Washington State and Multnomah, Washington and Marion counties of Oregon. The Bank is engaged primarily in the business of attracting deposits from the general public and using such funds, together with other borrowings, to make various commercial business, commercial real estate, land, multi-family real estate, real estate construction and consumer loans. Additionally, the Trust Company offers trust and investment services and Riverview Services , Inc. acts as a trustee for deeds of trust on mortgage loans granted by the Bank and receives a reconveyance fee for each deed of trust. In September 2018, the Bank completed a purchase and assumption transaction in which all of the Bank’s Longview, Washington branch deposits were sold to a community bank headquartered in Longview. The Bank sold approximately $3.2 million of deposits and recognized a gain on sale of these deposits of approximately $70,000, which is included in other non-interest income in the accompanying consolidated statement of income for the year ended March 31, 2019. This purchase and assumption transaction did not include the sale of any loans or the exchange of any assets or liabilities other than deposits. The Bank subsequently sold the Longview branch land and building in December 2018 and recognized a $355,000 gain on sale, which is included in other non-interest expense in the accompanying consolidated statement of income for the year ended March 31, 2019. Business segments – The Company’s operations are managed along two operating segments, consisting of banking operations performed by the Bank and trust and investment services performed by the Trust Company. While the chief operating decision maker uses financial information related to these segments to analyze business performance and allocate resources, the trust and investment services segment does not meet the quantitative threshold under GAAP to be considered a reportable segment. As such, these operating segments are aggregated into a single reportable operating segment in the consolidated financial statements. No revenues are derived from foreign countries. Use of Estimates in the Preparation of Consolidated Financial Statements – The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of related revenue and expense during the reporting period. Actual results could differ from those estimates. The estimates utilized to determine the appropriate allowance for loan losses at March 31, 2020 may be materially different from actual results due to the novel coronavirus of 2019 ("COVID-19") pandemic. Cash and Cash Equivalents – Cash and cash equivalents include amounts on hand, due from banks and interest-earning deposits in other banks. Cash and cash equivalents have a maturity of 90 days or less at the time of purchase. Certificates of Deposit Held for Investment – Certificates of deposit held for investment include amounts invested with financial institutions at a stated interest rate and maturity date. Early withdrawal penalties apply; however, the Company plans to hold these investments to maturity. Loans Held for Sale – The Company identifies loans held for sale at the time of origination and such loans are carried at the lower of aggregate cost or estimated fair value. Estimated fair values are derived from available market quotations for comparable pools of mortgage loans. Adjustments for unrealized losses, if any, are charged to income. Gains or losses on sales of loans held for sale are recognized at the time of sale and are determined by the difference between the net sales proceeds and the allocated basis of these loans sold. The Company capitalizes mortgage servicing rights ("MSRs") acquired through the sale of originated mortgage loans or the securitization of mortgage loans with servicing rights retained. Upon sale of mortgage loans held for sale, the total cost of the loans designated for sale is allocated to mortgage loans with and without MSRs based on their relative fair values. The MSRs are included as a component of net gains on sales of loans held for sale. The MSRs are amortized in proportion to and over the estimated period of the net servicing income and such amortization is reflected as a component of loan servicing income and is included in the consolidated statements of income in other non-interest income. Investment Securities – Investments in debt securities are classified as held to maturity when the Company has the ability and positive intent to hold such securities to maturity. Investments in debt securities held to maturity are carried at amortized cost. Unrealized losses on investments in debt securities held to maturity due to fluctuations in fair value are recognized when it is determined that a credit-related other than temporary decline in value has occurred. Investments in debt securities bought and held principally for the purpose of sale in the near-term are classified as trading securities. Investments in debt securities that the Company intends to hold for an indefinite period, but not necessarily to maturity, are classified as available for sale. Such debt securities may be sold to implement the Company’s asset/liability management strategies and in response to changes in interest rates and similar factors. Investments in debt securities available for sale are reported at estimated fair value. Unrealized gains and losses on investment securities available for sale, net of the related deferred tax effect, are included in total comprehensive income and are reported as a net amount in a separate component of shareholders’ equity entitled "accumulated other comprehensive income (loss)." Realized gains and losses on sales of investments in debt securities available for sale, determined using the specific identification method, are included in earnings on the trade date. Amortization of premiums and accretion of discounts are recognized in interest income over the period to contractual maturity or expected call, if sooner. The Company’s investment portfolio consists of debt securities and does not include any equity securities. The Company analyzes investments in debt securities for other than temporary impairment (“OTTI”) on a quarterly basis. OTTI is separated into a credit component and a noncredit component. Credit component losses are reported in non-interest income when the present value of expected future cash flows is less than the amortized cost. Noncredit component losses are recorded in other comprehensive income (loss) when the Company (1) does not intend to sell the security or (2) is not more likely than not to have to sell the security prior to the security’s anticipated recovery. If the Company is likely to sell an investment in a debt security, any noncredit component losses are recognized and are reported in non-interest income. Loans Receivable – Loans are stated at the amount of unpaid principal, reduced by net deferred loan origination fees and an allowance for loan losses. Interest on loans is accrued daily based on the principal amount outstanding. Loans are reviewed regularly and it is the Company’s general policy that a loan is past due when it is 30 days to 89 days delinquent. In general, when a loan is 90 days delinquent or when collection of principal or interest appears doubtful, it is placed on non-accrual status, at which time the accrual of interest ceases and a reserve for unrecoverable accrued interest is established and charged against operations. As a general practice, payments received on non-accrual loans are applied to reduce the outstanding principal balance on a cost recovery method. Also as a general practice, a loan is not removed from non-accrual status until all delinquent principal, interest and late fees have been brought current and the borrower has demonstrated a history of performance based upon the contractual terms of the note. A history of repayment performance generally would be a minimum of six months. Loan origination and commitment fees and certain direct loan origination costs are deferred and amortized as an adjustment of the yield of the related loan. Acquired Loans – Purchased loans, including loans acquired in business combinations, are recorded at their estimated fair value at the acquisition date. Credit discounts are included in the determination of fair value; therefore, an allowance for loan losses is 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 excess of the cash flows expected to be collected over a PCI loan’s carrying value is considered to be the accretable yield and is recognized as interest income over the estimated life of the PCI loan using the effective yield method. The excess of the undiscounted contractual balances due over the cash flows expected to be collected is considered to be the nonaccretable difference. The nonaccretable difference represents the Company’s estimate of the credit losses expected to occur and would be considered in determining the estimated fair value of the loans as of the acquisition date. Subsequent to the acquisition date, any increases in expected cash flows over those expected at the purchase date in excess of fair value are adjusted through a change to the accretable yield on a prospective basis. Any subsequent decreases in expected cash flows attributable to credit deterioration are recognized by recording an allowance for loan losses. The Company had no PCI loans as of March 31, 2020 and 2019. 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 lives of the related loans. Any subsequent deterioration in credit quality is recognized by recording an allowance for loan losses. 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 management’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 loan 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, uncertainties 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 loan 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 loan 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 thereof 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. A loan is considered impaired when it is probable that the Company will be unable to collect all amounts due (principal and interest) according to the contractual terms of the loan agreement. Typically, factors used in determining if 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 troubled debt restructuring ("TDR"). The majority of the Company’s impaired loans are considered collateral dependent. When a loan is considered collateral dependent, impairment is measured using the estimated value of the underlying collateral, less any prior liens, and when applicable, less estimated selling costs. For impaired loans that are not collateral dependent, impairment is measured using the present value of expected future cash flows, discounted at the loan’s original effective interest rate. When the estimated net realizable value of the impaired loan is less than the recorded investment in the loan (including accrued interest, net deferred loan fees or costs, and unamortized premium or discount), an impairment is recognized by adjusting an allocation of the allowance for loan losses. Subsequent to the initial allocation of allowance to the individual loan, the Company may conclude that it is appropriate to record a charge-off of the impaired portion of the loan. When a charge-off is recorded, the loan balance is reduced and the specific allowance is eliminated. Generally, when a collateral dependent loan is initially measured for impairment and has not had an appraisal of the collateral in the last six months, the Company obtains an updated market valuation. Subsequently, the Company generally obtains an updated market valuation of the collateral on an annual basis. The collateral valuation may occur more frequently if the Company determines that there is an indication that the market value may have declined. 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 payments 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 of the underlying collateral 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 charged off. A provision for loan losses is charged against income and is added to the allowance for loan losses based on regular assessments of the loan portfolio. The allowance for loan losses is allocated to certain loan categories based on the relative risk characteristics, asset classifications and actual loss experience of the loan portfolio. While management has allocated the allowance for loan losses to various loan portfolio segments, the allowance is general in nature and is available for the loan portfolio in its entirety. 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. Allowance for Unfunded Loan Commitments – The allowance for unfunded loan commitments is maintained at a level believed by management to be sufficient to absorb estimated probable losses related to these unfunded credit facilities. The determination of the adequacy of the allowance is based on periodic evaluations of the unfunded credit facilities including an assessment of the probability of commitment usage, credit risk factors for loans outstanding to these same customers, and the terms and expiration dates of the unfunded credit facilities. The allowance for unfunded loan commitments is included in accrued expenses and other liabilities in the consolidated balance sheets, with changes to the balance charged against non-interest expense. REO – REO consists of properties acquired through foreclosure and is initially recorded at the estimated fair value of the properties, less estimated costs of disposal. At the time of foreclosure, specific charge-offs are taken against the allowance for loan losses based upon a detailed analysis of the fair value of collateral on the underlying loans on which the Company is in the process of foreclosing. Subsequently, the Company performs an evaluation of the properties and records a valuation allowance with an offsetting charge to REO expenses for any declines in value. Management considers third-party appraisals, as well as independent fair market value assessments from realtors or persons involved in selling real estate, in determining the estimated fair value of particular properties. In addition, as certain of these third-party appraisals and independent fair market value assessments are only updated periodically, changes in the values of specific properties may have occurred subsequent to the most recent appraisals. The amounts the Company will ultimately recover and record in the accompanying consolidated financial statements from the disposition of REO may differ from the amounts used in arriving at the net carrying value of these assets because of future market factors beyond the Company’s control or because of changes in the Company’s strategy for the sale of the property. Costs relating to development and improvement of the properties or assets are capitalized, while costs relating to holding the properties or assets are expensed. At March 31, 2020, there were no mortgage loans secured by residential real estate for which formal foreclosure proceedings were in process. Federal Home Loan Bank Stock – The Bank, as a member of the Federal Home Loan Bank of Des Moines ("FHLB"), is required to maintain a minimum investment in capital stock of the FHLB based on specific percentages of its outstanding FHLB advances. The Company’s investment in FHLB stock is carried at cost, which approximates fair value. The Company views its investment in FHLB stock as a long-term investment. Accordingly, when evaluating FHLB stock for impairment, the value is determined based on the ultimate redemption of the par value rather than recognizing temporary declines in value. The determination of whether a decline affects the ultimate redemption value is influenced by criteria such as: (1) the significance of any decline in net assets of the FHLB as compared to the capital stock amount of the FHLB and the length of time this situation has persisted, (2) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLB, (3) the impact of legislative and regulatory changes on institutions and, accordingly, the customer base of the FHLB, and (4) the liquidity position of the FHLB. The Company evaluated its investment in FHLB stock for OTTI, consistent with its accounting policy. Based on the Company’s evaluation, the Company determined there is not any OTTI on its FHLB stock at March 31, 2020. Premises and Equipment – Premises and equipment are stated at cost less accumulated depreciation and amortization. Leasehold improvements are amortized over the estimated term of the related lease or the estimated useful life of the improvements, whichever is less. Depreciation and amortization is generally computed on the straight-line method over the following estimated useful lives: buildings and improvements – up to 45 years; furniture and equipment – 3 to 20 years; and leasehold improvements – 15 to 25 years, or estimated lease term if shorter. Gains or losses on dispositions are reflected in earnings. The cost of maintenance and repairs is charged to expense as incurred. Assets are reviewed for impairment when events indicate their carrying value may not be recoverable. If management determines impairment exists the asset is reduced by an offsetting charge to expense. Assets held under the Company’s finance lease, net of accumulated amortization, are included in premises and equipment. The assets held under the finance lease are amortized on a straight-line basis over the lease term and the amortization is included in depreciation and amortization expense. MSRs – The Company services certain loans that it has originated and sold to the Federal Home Loan Mortgage Corporation ("FHLMC"). Loan servicing includes collecting payments; remitting funds to investors, insurance companies and tax authorities; collecting delinquent payments; and foreclosing on properties when necessary. Fees earned for servicing loans for the FHLMC are reported as income when the related mortgage loan payments are collected. Loan servicing costs are charged to expense as incurred. In addition, the Company has recorded MSRs, which represent the rights to service loans. The Company records its originated MSRs at fair value in accordance with GAAP, which requires the Company to allocate the total cost of all mortgage loans sold between the MSRs and the loans (without the MSRs) based on their relative fair values if it is practicable to estimate those fair values. The Company stratifies its MSRs based on the predominant characteristics of the underlying financial assets including the coupon interest rate and the contractual maturity of the mortgage. The Company is amortizing the MSRs in proportion to and over the period of estimated net servicing income. MSRs are reviewed quarterly for impairment based on their estimated fair value . The estimated fair value of the MSRs is determined quarterly using a discounted cash flow model. The model estimates the present value of the future net cash flows of the servicing loan portfolio based on various factors, such as servicing costs, servicing income, expected prepayment speeds, discount rate, loan maturity and interest rate. Market sources are used to determine prepayment speeds, ancillary income, servicing cost and pre-tax required yield. The effect of changes in market interest rates on estimated rates of loan prepayments represents the predominant risk characteristic underlying the MSRs portfolio. Impairment losses are recognized through a valuation allowance for each impaired stratum, with any associated provision recorded as a component of loan servicing income. Business Combinations, CDI and Goodwill – GAAP requires the total purchase price in a business combination to be allocated to the estimated fair values of assets acquired and liabilities assumed, including certain intangible assets. Subsequent adjustments to the initial allocation of the purchase price may be made related to fair value estimates for which all relevant information has not been obtained, known, or discovered relating to the acquired entity during the allocation period (which is the period of time required to identify and measure the estimated fair values of the assets acquired and liabilities assumed in a business combination). The allocation period is generally limited to one year following consummation of a business combination. CDI represents the value assigned to demand, interest checking, money market and savings accounts acquired as part of a business combination. CDI represents the future economic benefit of the potential cost savings from acquiring core deposits as part of a business combination 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. At both March 31, 2020 and 2019, gross CDI was $1.36 million. At March 31, 2020 and 2019, accumulated amortization was $604,000 and $443,000, respectively. The amortization expense for CDI in future years is estimated to be $140,000, $125,000, $116,000, $108,000, $100,000 and $170,000 for the years ended March 31, 2021, 2022, 2023, 2024, 2025 and thereafter, respectively. Goodwill and certain other intangibles generally arise from business combinations. Goodwill and other intangibles generated from business combinations that are deemed to have indefinite lives are not subject to amortization and are instead tested for impairment not less than annually. The Company performs an annual review in the third quarter of each year, or more frequently if indicators of potential impairment exist, to determine if the recorded goodwill is impaired (see Note 7). BOLI – BOLI policies are recorded at their cash surrender value less applicable surrender charges. Income from BOLI is recognized when earned. Advertising and Marketing – Costs incurred for advertising, merchandising, market research, community investment and business development are classified as advertising and marketing expense and are expensed as incurred. Income Taxes – Income taxes are accounted for using the asset and liability method. Under this method, a deferred tax asset or liability is determined based on the enacted tax rates which will be in effect when the differences between the financial statement carrying amounts and tax basis of existing assets and liabilities are expected to be reported in the Company’s income tax returns. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established to reduce the net carrying amount of deferred tax assets if it is determined to be more likely than not that all or some portion of the potential deferred tax asset will not be realized. The Company files a consolidated federal income tax return. The Bank provides for income taxes separately and remits to the Company amounts currently due. Transfers of financial assets – Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Trust Assets – Assets held by the Trust Company in a fiduciary or agency capacity for trust customers are not included in the consolidated financial statements because such items are not assets of the Company. Assets totaling $1.2 billion and $646.0 million were held in trust as of March 31, 2020 and 2019, respectively. Earnings Per Share – GAAP requires all companies whose capital structure includes dilutive potential common shares to make a dual presentation of basic and diluted earnings per share for all periods presented. The Company’s basic earnings per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding for the period, excluding restricted stock and unallocated shares owned by the ESOP. The Company’s diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised and has been computed after giving consideration to the weighted average diluted effect of the Company’s stock options and restricted stock awards. Stock-Based Compensation – The Company measures compensation cost for

RESTRICTED ASSETS

RESTRICTED ASSETS	12 Months Ended
	Mar. 31, 2020
Other Restricted Assets [Abstract]
RESTRICTED ASSETS	2. RESTRICTED ASSETS Regulations of the Board of Governors of the Federal Reserve System require that the Bank maintain minimum reserve balances either on hand or on deposit with the Federal Reserve Bank of San Francisco ("FRB") based on a percentage of deposits. Effective March 26, 2020, the reserve requirement was reduced to zero and the Bank was not required to maintain any such reserve balances as of March 31, 2020. The minimum reserve balance as of March 31, 2019 was $1.8 million.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	12 Months Ended
	Mar. 31, 2020
INVESTMENT SECURITIES
INVESTMENT SECURITIES	3. INVESTMENT SECURITIES The amortized cost and approximate fair value of investment securities consisted of the following at the dates indicated (in thousands): Amortized Gross Gross Estimated Fair Cost Unrealized Gains Unrealized Losses Value March 31, 2020 Available for sale: Municipal securities $ 4,740 $ 137 $ — $ 4,877 Agency securities 6,009 17 (10) 6,016 Real estate mortgage investment conduits (1) 42,663 1,128 — 43,791 Residential mortgage-backed securities (1) 58,700 1,415 (30) 60,085 Other mortgage-backed securities (2) 33,417 256 (151) 33,522 Total available for sale $ 145,529 $ 2,953 $ (191) $ 148,291 Held to maturity: Residential mortgage-backed securities (3) $ 28 $ — $ — $ 28 Amortized Gross Gross Estimated Fair Cost Unrealized Gains Unrealized Losses Value March 31, 2019 Available for sale: Municipal securities $ 8,885 $ 30 $ (34) $ 8,881 Agency securities 12,426 22 (107) 12,341 Real estate mortgage investment conduits (1) 40,835 — (673) 40,162 Residential mortgage-backed securities (1) 77,402 7 (1,588) 75,821 Other mortgage-backed securities (2) 42,133 12 (1,124) 41,021 Total available for sale $ 181,681 $ 71 $ (3,526) $ 178,226 Held to maturity: Residential mortgage-backed securities (3) $ 35 $ — $ — $ 35 (1) Comprised of FHLMC, Federal National Mortgage Association (“FNMA”) and Ginnie Mae (“GNMA”) issued securities. (2) Comprised of U.S. Small Business Administration (“SBA”) issued securities and commercial real estate (“CRE”) secured securities issued by FNMA. (3) Comprised of FHLMC and FNMA issued securities. The contractual maturities of investment securities as of March 31, 2020 are as follows (in thousands): Available for Sale Held to Maturity Amortized Estimated Amortized Estimated Cost Fair Value Cost Fair Value Due in one year or less $ 1,001 $ 1,015 $ — $ — Due after one year through five years 4,324 4,320 25 25 Due after five years through ten years 33,195 33,983 3 3 Due after ten years 107,009 108,973 — — Total $ 145,529 $ 148,291 $ 28 $ 28 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 Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses March 31, 2020 Available for sale: Agency securities $ 1,998 $ (10) $ — $ — $ 1,998 $ (10) Residential mortgage-backed securities (1) 2,509 (22) 409 (8) 2,918 (30) Other mortgage-backed securities (3) 11,726 (58) 4,911 (93) 16,637 (151) Total available for sale $ 16,233 $ (90) $ 5,320 $ (101) $ 21,553 $ (191) March 31, 2019 Available for sale: Municipal securities $ — $ — $ 6,554 $ (34) $ 6,554 $ (34) Agency securities — — 6,861 (107) 6,861 (107) Real estate mortgage investment conduits (2) — — 40,126 (673) 40,126 (673) Residential mortgage-backed securities (2) — — 74,288 (1,588) 74,288 (1,588) Other mortgage-backed securities (3) — — 40,409 (1,124) 40,409 (1,124) Total available for sale $ — $ — $ 168,238 $ (3,526) $ 168,238 $ (3,526) (1) Comprised of FHLMC and FNMA issued securities. (2) Comprised of FHLMC, FNMA and GNMA issued securities. (3) Comprised of SBA and CRE secured securities issued by FNMA. The unrealized losses on the Company’s investment securities 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. Proceeds from the sale of investment securities totaled $17.8 million for the year ended March 31, 2020. Gross realized gains on sales of investment securities totaled $30,000 for the year ended March 31, 2020 and are included in other non-interest income in the accompanying consolidated statements of income. The Company had no sales and realized no gains or losses on sales of investment securities for the years ended March 31, 2019 and 2018. Investment securities available for sale with an amortized cost of $6.6 million and $5.8 million and a fair value of $6.8 million and $5.7 million at March 31, 2020 and 2019, respectively, were pledged as collateral for government public funds held by the Bank. There were no held to maturity securities pledged as collateral for government public funds held by the Bank at March 31, 2020 and 2019.

LOANS RECEIVABLE

LOANS RECEIVABLE	12 Months Ended
	Mar. 31, 2020
LOANS RECEIVABLE
LOANS RECEIVABLE	4 . LOANS RECEIVABLE Loans receivable at March 31, 2020 and 2019 are reported net of deferred loan fees totaling $4.1 million and $4.0 million, respectively. Loans receivable are also reported net of discounts and premiums, totaling $1.1 million and $1.5 million, respectively, as of March 31, 2020, compared to $1.5 million and $1.8 million, respectively, as of March 31, 2019. Loans receivable, excluding loans held for sale, consisted of the following at the dates indicated (in thousands): March 31, March 31, 2020 2019 Commercial and construction Commercial business $ 179,029 $ 162,796 Commercial real estate 507,871 461,432 Land 14,026 17,027 Multi-family 58,374 51,570 Real estate construction 64,843 90,882 Total commercial and construction 824,143 783,707 Consumer Real estate one-to-four family 83,150 84,053 Other installment 4,216 8,356 Total consumer 87,366 92,409 Total loans 911,509 876,116 Less: Allowance for loan losses 12,624 11,457 Loans receivable, net $ 898,885 $ 864,659 The Company’s loan portfolio includes originated and purchased loans. Originated loans and purchased loans for which there was no evidence of credit deterioration at their acquisition date and for which it was probable that the Company would be able to collect all contractually required payments, are referred to collectively as "loans". The Company originates commercial business, commercial real estate, land, multi-family real estate, real estate construction, residential real estate and other consumer loans. At March 31, 2020 and 2019, the Company had no loans to foreign domiciled businesses or foreign countries, or loans related to highly leveraged transactions. Substantially all of the mortgage loans in the Company’s loan portfolio are secured by properties located in Washington and Oregon, and accordingly, the ultimate collectibility of a substantial portion of the Company’s loan portfolio is susceptible to changes in the local economic conditions in these markets. Loans and extensions of credit outstanding at one time to one borrower are generally limited by federal regulations to 15% of the Bank’s shareholders’ equity, excluding accumulated other comprehensive income (loss) ("AOCI"). 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 March 31, 2020, loans carried at $525.6 million were pledged as collateral to the FHLB and FRB for borrowing arrangements. Aggregate loans to officers and directors, all of which are current, consist of the following for the periods indicated (in thousands): Year Ended March 31, 2020 2019 2018 Beginning balance $ 778 $ 981 $ 859 Originations 977 359 526 Principal repayments (1,130) (562) (404) Ending balance $ 625 $ 778 $ 981 Loan segment risk characteristics – The Company considers its loan classes to be the same as its loan segments. The following are loan segment risk characteristics of the Company’s loan portfolio: Commercial business – Commercial business loans are primarily made based on the operating cash flows of the borrower or conversion of working capital assets to cash and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers may be volatile and the value of the collateral securing these loans may be difficult to measure. Most commercial business loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and generally include a personal guarantee based on a review of personal financial statements. The Company will extend some short-term loans on an unsecured basis to highly qualified borrowers. Although commercial business loans are often collateralized by equipment, inventory, accounts receivable or other business assets, the liquidation of collateral in the event of a borrower default is often an insufficient source of repayment, because accounts receivable may be uncollectible and inventories and equipment may be obsolete or of limited use. Accordingly, the repayment of a commercial business loan depends primarily on the credit-worthiness of the borrower (and any guarantors), while the liquidation of collateral is a secondary and potentially insufficient source of repayment. The Company attempts to mitigate these risks by adhering to its underwriting policies in evaluating the management of the business and the credit-worthiness of the borrowers and the guarantors. Commercial real estate – The Company originates commercial real estate loans within its primary market areas secured by properties such as office buildings, warehouse/industrial, retail, assisted living, single purpose facilities, and other commercial properties. These are cash flow loans that share characteristics of both real estate and commercial business loans. The primary source of repayment is cash flow from the operation of the collateral property and secondarily through liquidation of the collateral. These loans are generally higher risk than other classifications of loans in that they typically involve higher loan amounts, are dependent on the management experience of the owners, and may be adversely affected by conditions in the real estate market or the economy. Owner-occupied commercial real estate loans are generally of lower credit risk than non-owner occupied commercial real estate loans as the borrowers’ businesses are likely dependent on the properties. Underwriting for these loans is primarily dependent on the repayment capacity derived from the operation of the occupying business rather than rents paid by third-parties. The Company attempts to mitigate these risks by generally limiting the maximum loan-to-value ratio to 65%‑80% depending on the property type and scrutinizing the financial condition of the borrower, the quality of the collateral and the management of the property securing the loan. Land – The Company has historically originated loans for the acquisition of raw land upon which the purchaser can then build or make improvements necessary to build or sell as improved lots. Currently, the Company is originating new land loans on a limited basis. Loans secured by undeveloped land or improved lots involve greater risks than one-to-four family residential mortgage loans because these loans are more difficult to evaluate. If the estimate of value proves to be inaccurate, in the event of default or foreclosure, the Company may incur a loss. The Company attempts to minimize this risk by generally limiting the maximum loan-to-value ratio on raw land loans to 65% and on improved land loans to 75%. Multi-family – The Company originates loans secured by multi-family dwelling units (more than four units). These loans involve a greater degree of risk than one-to-four family residential mortgage loans as these loans are usually greater in amount, dependent on the cash flow capacity of the project, and are more difficult to evaluate and monitor. Repayment of loans secured by multi-family properties typically depends on the successful operation and management of the properties. Consequently, repayment of such loans may be affected by adverse conditions in the real estate market or economy. The Company attempts to mitigate these risks by thoroughly evaluating the global financial condition of the borrower, the management experience of the borrower, and the quality of the collateral property securing the loan. Real estate construction- – The Company originates construction loans for one-to-four family residential, multi-family, and commercial real estate properties. The one-to-four family residential construction loans include construction of consumer custom homes whereby the home buyer is the borrower as well as speculative and presold loans for home builders. Speculative one-to four-family construction loans are loans for which the home builder does not have, at the time of the loan origination, a signed contract with a home buyer who has a commitment for permanent financing with the Company or another lender for the finished home. The home buyer may be identified either during or after the construction period. Multi-family construction loans are originated to construct apartment buildings and condominium projects. Commercial construction loans are originated to construct properties such as office buildings, retail rental space and mini-storage facilities, and assisted living facilities. All construction loans are short-term and generally the rate is variable in nature. Construction lending can involve a higher level of risk than other types of lending because funds are advanced based on a prospective value of the project at completion, the total estimated construction cost of the project, and the borrowers’ equity at risk. Additionally, the repayment of the loan is conditional on the success of the ultimate project which is subject to interest rate changes, governmental regulations, general economic conditions and the ability of the borrower to sell or lease the property or refinance the indebtedness. If the Company’s estimate of the value of a project at completion proves to be overstated, it may have inadequate security for repayment of the loan and may incur a loss if the borrower does not repay the loan. Projects may also be jeopardized by disagreements between borrowers and builders and by the failure of builders to pay subcontractors. Loans to construct homes for which no purchaser has been identified carry more risk because the payoff for the loan depends on the builder’s ability to sell the property prior to the time that the construction loan is due. Although the nature of real estate construction loans is such that they are generally more difficult to evaluate and monitor, the Company attempts to closely monitor the construction project by on-site inspections. The Company also attempts to mitigate the risks of construction lending by adhering to its underwriting policies, disbursement procedures and monitoring practices. Real estate one-to-four family – The Company originates both fixed-rate and adjustable-rate loans secured by one- to-four family residences located in its primary market areas. The majority of the fixed-rate one-to-four family loans are sold in the secondary market for asset/liability management purposes and to generate non-interest income. The Company’s lending policies generally limit the maximum loan-to-value on one-to-four family loans to 80% of the lesser of the appraised value or the purchase price. However, the Company usually obtains private mortgage insurance on the portion of the principal amount that exceeds 80% of the appraised value of the property. Terms of maturity typically range from 15 to 30 years. The Company also originates home equity lines of credit and second mortgage loans. Home equity lines of credit and second mortgage loans have a greater credit risk than one-to-four family residential mortgage loans because they are secured by mortgages subordinated to the existing first mortgage on the property, which may or may not be held by the Company. The Company attempts to mitigate residential lending risks by adhering to its underwriting policies in evaluating the collateral and the credit-worthiness of the borrower. Other installment – The Company originates other consumer loans, which include automobile, boat, motorcycle, recreational vehicle, savings account and unsecured loans. Other consumer loans generally have shorter terms to maturity than mortgage loans. Other consumer loans generally involve a greater degree of risk than do residential mortgage loans, particularly in the case of consumer loans that are unsecured or secured by rapidly depreciating assets such as automobiles. In such cases, any repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance as a result of the greater likelihood of damage, loss or depreciation. The Company attempts to mitigate these risks by adhering to its underwriting policies in evaluating the credit-worthiness of the borrower.

ALLOWANCE FOR LOAN LOSSES

ALLOWANCE FOR LOAN LOSSES	12 Months Ended
	Mar. 31, 2020
ALLOWANCE FOR LOAN LOSSES
ALLOWANCE FOR LOAN LOSSES	5. ALLOWANCE FOR LOAN LOSSES The following tables present a reconciliation of the allowance for loan losses for the periods indicated (in thousands): Commercial Commercial Multi- Real Estate March 31, 2020 Business Real Estate Land Family Construction Consumer Unallocated Total Beginning balance $ 1,808 $ 5,053 $ 254 $ 728 $ 1,457 $ 1,447 $ 710 $ 11,457 Provision for (recapture of) loan losses 264 1,368 (24) 126 (308) (65) (111) 1,250 Charge-offs (64) — — — — (82) — (146) Recoveries — — — — — 63 — 63 Ending balance $ 2,008 $ 6,421 $ 230 $ 854 $ 1,149 $ 1,363 $ 599 $ 12,624 March 31, 2019 Beginning balance $ 1,668 $ 4,914 $ 220 $ 822 $ 618 $ 1,809 $ 715 $ 10,766 Provision for (recapture of) loan losses 139 (685) 34 (94) 839 (178) (5) 50 Charge-offs — — — — — (291) — (291) Recoveries 1 824 — — — 107 — 932 Ending balance $ 1,808 $ 5,053 $ 254 $ 728 $ 1,457 $ 1,447 $ 710 $ 11,457 March 31, 2018 Beginning balance $ 1,418 $ 5,084 $ 228 $ 297 $ 714 $ 2,099 $ 688 $ 10,528 Provision for (recapture of) loan losses 10 (156) (301) 525 (96) (9) 27 — Charge-offs — (68) — — — (340) — (408) Recoveries 240 54 293 — — 59 — 646 Ending balance $ 1,668 $ 4,914 $ 220 $ 822 $ 618 $ 1,809 $ 715 $ 10,766 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 Individually Collectively Individually Collectively Evaluated for Evaluated for Evaluated for Evaluated for March 31, 2020 Impairment Impairment Total Impairment Impairment Total Commercial business $ — $ 2,008 $ 2,008 $ 139 $ 178,890 $ 179,029 Commercial real estate — 6,421 6,421 2,378 505,493 507,871 Land — 230 230 714 13,312 14,026 Multi-family — 854 854 1,549 56,825 58,374 Real estate construction — 1,149 1,149 — 64,843 64,843 Consumer 12 1,351 1,363 432 86,934 87,366 Unallocated — 599 599 — — — Total $ 12 $ 12,612 $ 12,624 $ 5,212 $ 906,297 $ 911,509 March 31, 2019 Commercial business $ — $ 1,808 $ 1,808 $ 160 $ 162,636 $ 162,796 Commercial real estate — 5,053 5,053 2,482 458,950 461,432 Land — 254 254 728 16,299 17,027 Multi-family — 728 728 1,598 49,972 51,570 Real estate construction — 1,457 1,457 — 90,882 90,882 Consumer 22 1,425 1,447 697 91,712 92,409 Unallocated — 710 710 — — — Total $ 22 $ 11,435 $ 11,457 $ 5,665 $ 870,451 $ 876,116 Changes in the allowance for unfunded loan commitments were as follows for the years indicated (in thousands): Year Ended March 31, 2020 2019 2018 Beginning balance $ 469 $ 480 $ 388 Net change in allowance for unfunded loan commitments 5 (11) 92 Ending balance $ 474 $ 469 $ 480 The following tables present an analysis of loans by aging category at the dates indicated (in thousands): 90 Days Total Past and Due and 30-89 Days Greater Non- Total Loans March 31, 2020 Past Due Past Due Non-accrual accrual Current Receivable Commercial business $ — $ — $ 201 $ 201 $ 178,828 $ 179,029 Commercial real estate — — 1,014 1,014 506,857 507,871 Land — — — — 14,026 14,026 Multi-family — — — — 58,374 58,374 Real estate construction — — — — 64,843 64,843 Consumer 271 — 180 451 86,915 87,366 Total $ 271 $ — $ 1,395 $ 1,666 $ 909,843 $ 911,509 March 31, 2019 Commercial business $ — $ — $ 225 $ 225 $ 162,571 $ 162,796 Commercial real estate — — 1,081 1,081 460,351 461,432 Land — — — — 17,027 17,027 Multi-family — — — — 51,570 51,570 Real estate construction — — — — 90,882 90,882 Consumer 345 3 210 558 91,851 92,409 Total $ 345 $ 3 $ 1,516 $ 1,864 $ 874,252 $ 876,116 Interest income foregone on non-accrual loans was $75,000, $94,000 and $102,000 for the years ended March 31, 2020, 2019 and 2018, respectively. Credit quality indicators – The Company monitors credit risk in its loan portfolio using a risk rating system (on a scale of one to nine) for all commercial (non-consumer) loans. The risk rating system is a measure of the credit risk of the borrower based on their historical, current and anticipated future financial characteristics. The Company assigns a risk rating to each commercial loan at origination and subsequently updates these ratings, as necessary, so that the risk rating continues to reflect the appropriate risk characteristics of the loan. Application of appropriate risk ratings is key to management of loan portfolio risk. In determining the appropriate risk rating, the Company considers the following factors: delinquency, payment history, quality of management, liquidity, leverage, earnings trends, alternative funding sources, geographic risk, industry risk, cash flow adequacy, account practices, asset protection and extraordinary risks. Consumer loans, including custom construction loans, are not assigned a risk rating but rather are grouped into homogeneous pools with similar risk characteristics. When a consumer loan is delinquent 90 days, it is placed on non-accrual status and assigned a substandard risk rating. Loss factors are assigned to each risk rating and homogeneous pool based on historical loss experience for similar loans. This historical loss experience is adjusted for qualitative factors that are likely to cause the estimated credit losses to differ from the Company’s historical loss experience. The Company uses these loss factors to estimate the general component of its allowance for loan losses. Pass – These loans have a risk rating between 1 and 4 and are to borrowers that meet normal credit standards. Any deficiencies in satisfactory asset quality, liquidity, debt servicing capacity and coverage are offset by strengths in other areas. The borrower currently has the capacity to perform according to the loan terms. Any concerns about risk factors such as stability of margins, stability of cash flows, liquidity, dependence on a single product/supplier/customer, depth of management, etc. are offset by strengths in other areas. Typically, these loans are secured by the operating assets of the borrower and/or real estate. The borrower’s management is considered competent. The borrower has the ability to repay the debt in the normal course of business. Watch – These loans have a risk rating of 5 and are included in the “pass” rating. However, there would typically be some reason for additional management oversight, such as the borrower’s recent financial setbacks and/or deteriorating financial position, industry concerns and failure to perform on other borrowing obligations. Loans with this rating are monitored closely in an effort to correct deficiencies. Special mention – These loans have a risk rating of 6 and are rated in accordance with regulatory guidelines. These loans have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the credit position at some future date. These loans pose elevated risk but their weakness does not yet justify a “substandard” classification. Substandard – These loans have a risk rating of 7 and are rated in accordance with regulatory guidelines, for which the accrual of interest may or may not be discontinued. By definition under regulatory guidelines, a “substandard” loan has defined weaknesses which make payment default or principal exposure likely but not yet certain. Repayment of such loans is likely to be dependent upon collateral liquidation, a secondary source of repayment, or an event outside of the normal course of business. Doubtful – These loans have a risk rating of 8 and are rated in accordance with regulatory guidelines. Such loans are placed on non-accrual status and repayment may be dependent upon collateral which has value that is difficult to determine or upon some near-term event which lacks certainty. Loss – These loans have a risk rating of 9 and are rated in accordance with regulatory guidelines. Such loans are charged-off or charged-down when payment is acknowledged to be uncertain or when the timing or value of payments cannot be determined. “Loss” is not intended to imply that the loan or some portion of it will never be paid, nor does it in any way imply that there has been a forgiveness of debt. The following tables present an analysis of loans by credit quality indicators at the dates indicated (in thousands): Special Total Loans March 31, 2020 Pass Mention Substandard Doubtful Loss Receivable Commercial business $ 177,399 $ 1,282 $ 348 $ — $ — $ 179,029 Commercial real estate 506,794 63 1,014 — — 507,871 Land 14,026 — — — — 14,026 Multi-family 58,295 45 34 — — 58,374 Real estate construction 64,843 — — — — 64,843 Consumer 87,186 — 180 — — 87,366 Total $ 908,543 $ 1,390 $ 1,576 $ — $ — $ 911,509 March 31, 2019 Commercial business $ 159,997 $ 840 $ 1,959 $ — $ — $ 162,796 Commercial real estate 454,013 4,030 3,389 — — 461,432 Land 16,299 — 728 — — 17,027 Multi-family 51,093 457 20 — — 51,570 Real estate construction 90,882 — — — — 90,882 Consumer 92,199 — 210 — — 92,409 Total $ 864,483 $ 5,327 $ 6,306 $ — $ — $ 876,116 Impaired loans – The following tables present information regarding impaired loans at the dates and for the years indicated (in thousands): Recorded Recorded Investment with Investment Related No Specific with Specific Total Unpaid Specific Valuation Valuation Recorded Principal Valuation March 31, 2020 Allowance Allowance Investment Balance Allowance Commercial business $ 139 $ — $ 139 $ 170 $ — Commercial real estate 2,378 — 2,378 3,405 — Land 714 — 714 748 — Multi-family 1,549 — 1,549 1,662 — Consumer 295 137 432 543 12 Total $ 5,075 $ 137 $ 5,212 $ 6,528 $ 12 March 31, 2019 Commercial business $ 160 $ — $ 160 $ 182 $ — Commercial real estate 2,482 — 2,482 3,424 — Land 728 — 728 766 — Multi-family 1,598 — 1,598 1,709 — Consumer 281 416 697 807 22 Total $ 5,249 $ 416 $ 5,665 $ 6,888 $ 22 Year ended Year ended Year ended March 31, 2020 March 31, 2019 March 31, 2018 Interest Interest Interest Average Recognized Average Recognized Average Recognized Recorded on Impaired Recorded on Impaired Recorded on Impaired Investment Loans Investment Loans Investment Loans Commercial business $ 150 $ 62 $ 334 $ — $ 930 $ 41 Commercial real estate 2,420 40 2,607 64 4,185 101 Land 720 90 742 7 781 — Multi-family 1,573 — 1,620 88 1,668 90 Consumer 494 29 992 45 1,452 62 Total $ 5,357 $ 221 $ 6,295 $ 204 $ 9,016 $ 294 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 and other loan modifications – 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 in Note 1 – Summary of Significant Accounting Policies – Allowance for Loan Losses. The following table presents TDRs by interest accrual status at the dates indicated (in thousands): March 31, 2020 March 31, 2019 Accrual Nonaccrual Total Accrual Nonaccrual Total Commercial business $ — $ 139 $ 139 $ — $ 160 $ 160 Commercial real estate 1,364 1,014 2,378 1,401 1,081 2,482 Land 714 — 714 728 — 728 Multi-family 1,549 — 1,549 1,598 — 1,598 Consumer 432 — 432 697 — 697 Total $ 4,059 $ 1,153 $ 5,212 $ 4,424 $ 1,241 $ 5,665 At March 31, 2020, the Company had no commitments to lend additional funds on these loans. At March 31, 2020, all of the Company’s TDRs were paying as agreed except for one commercial real estate loan with a recorded investment of $851,000 which is classified as nonaccrual. There was one new TDR for the year ended March 31, 2020. The new TDR is a consumer real estate loan secured by a 1-4 family property located in Southwest Washington, for which the Company granted a rate reduction and extended the maturity date by 10 years. The recorded investment in the loan prior to modification and at March 31, 2020 was $27,000 and $25,000, respectively. There were no new TDRs for the year ended March 31, 2019 and 2018. In March 2020, the Company began offering short-term loan modifications to assist borrowers during the COVID-19 pandemic. The CARES Act along with a joint agency statement issued by banking regulatory agencies provides that a short-term modification made in response to COVID-19 and which meets certain criteria does not need to be accounted for as a TDR. Accordingly, the Company does not account for such loan modifications as TDRs. See Note 1 - Summary of Significant Accounting Policies for more information.

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Mar. 31, 2020
PREMISES AND EQUIPMENT
PREMISES AND EQUIPMENT	6. PREMISES AND EQUIPMENT Premises and equipment consisted of the following at the dates indicated (in thousands): March 31, 2020 2019 Land $ 4,531 $ 4,531 Buildings and improvements 15,356 15,349 Leasehold improvements 1,666 1,666 Furniture and equipment 10,819 10,694 Building under finance lease 2,956 2,956 Construction in progress 3,245 733 Total 38,573 35,929 Less accumulated depreciation and amortization (21,495) (20,471) Premises and equipment, net $ 17,078 $ 15,458 Depreciation and amortization expense was $1.3 million, $1.1 million and $1.2 million for the years ended March 31, 2020, 2019 and 2018, respectively.

GOODWILL

GOODWILL	12 Months Ended
	Mar. 31, 2020
GOODWILL
GOODWILL	7. 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 its annual impairment assessment as of October 31, 2019 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 and compares 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 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. As a result of the effects of the COVID-19 pandemic and its impacts on the financial markets and economy, the Company completed a qualitative assessment of goodwill as of March 31, 2020, and concluded that it is more likely than not that the fair value of the Bank (the reporting unit), exceeds its carrying value. If adverse economic conditions or the recent decrease in the Company’s common stock price and market capitalization as a result of the COVID-19 pandemic were sustained in the future rather than temporary, it may significantly affect the fair value of the reporting unit and may trigger future goodwill impairment charges. Any impairment charge could have a material adverse effect on our results of operations and financial condition.

DEPOSITS

DEPOSITS	12 Months Ended
	Mar. 31, 2020
DEPOSITS
DEPOSITS	8. DEPOSITS Deposit accounts consisted of the following at the dates indicated (in thousands): Account Type March 31, 2020 March 31, 2019 Non-interest-bearing $ 271,031 $ 284,854 Interest-bearing checking 187,798 183,388 Money market 169,798 233,317 Savings accounts 226,880 137,503 Certificates of deposit 134,941 86,006 Total $ 990,448 $ 925,068 Individual certificates of deposit in amounts of $250,000 or more totaled $35.9 million and $10.5 million at March 31, 2020 and 2019, respectively. Scheduled maturities of certificates of deposit for future years ending March 31 are as follows (in thousands): Year Ending March 31: 2021 $ 74,078 2022 40,579 2023 14,303 2024 2,360 2025 2,623 Thereafter 998 Total $ 134,941 Interest expense by deposit type was as follows for the years indicated (in thousands): Year Ended March 31, 2020 2019 2018 Interest-bearing checking $ 100 $ 101 $ 100 Money market 229 302 335 Savings accounts 1,054 145 133 Certificates of deposit 1,507 448 640 Total $ 2,890 $ 996 $ 1,208

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES	12 Months Ended
	Mar. 31, 2020
FEDERAL HOME LOAN BANK ADVANCES
FEDERAL HOME LOAN BANK ADVANCES	9 . FEDERAL HOME LOAN BANK ADVANCES FHLB advances – which consist of overnight borrowings – are summarized as follows at the dates indicated (dollars in thousands): March 31, 2020 March 31, 2019 FHLB advances $ — $ 56,586 Weighted average interest rate on FHLB advances (1) 2.54 % 2.58 % (1) Computed based on the borrowing activity for the years ending March 31, 2020 and 2019, respectively. The Bank has a credit line with the FHLB equal to 45% of total assets, limited by available collateral. At March 31, 2020, based on collateral values, the Bank had additional borrowing capacity of $235.9 million from the FHLB. FHLB advances are collateralized with the FHLB by certain investment and mortgage-backed securities, FHLB stock owned by the Bank, deposits with the FHLB, and certain mortgages on deeds of trust securing such properties as provided in the agreements with the FHLB. At March 31, 2020, loans carried at $397.2 million were pledged as collateral to the FHLB.

JUNIOR SUBORDINATED DEBENTURES

JUNIOR SUBORDINATED DEBENTURES	12 Months Ended
	Mar. 31, 2020
JUNIOR SUBORDINATED DEBENTURES
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 $26.7 million and $26.6 million at March 31, 2020 and 2019, respectively, are reported as “junior subordinated debentures” in the consolidated balance sheets. 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 March 31, 2020 and 2019, 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 March 31, 2020 (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 % 2.10 % 3/2036 Riverview Bancorp Statutory Trust II 06/2007 15,464 Variable (2) 7.03 % 2.09 % 9/2037 Merchants Bancorp Statutory Trust I (4) 06/2003 5,155 Variable (3) 4.16 % 4.33 % 6/2033 27,836 Fair value adjustment (4) (1,174) Total Debentures $ 26,662 (1) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.36%. (2) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.35%. (3) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 3.10%. (4) Amount, net of accretion, attributable to a prior year's business combination.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Mar. 31, 2020
INCOME TAXES
INCOME TAXES	11. INCOME TAXES Provision for income taxes consisted of the following for the periods indicated (in thousands): Year Ended March 31, 2020 2019 2018 Current $ 5,404 $ 5,157 $ 4,087 Deferred (574) (11) 3,668 Total $ 4,830 $ 5,146 $ 7,755 The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are as follows at the dates indicated (in thousands): March 31, 2020 March 31, 2019 Deferred tax assets: Deferred compensation $ 63 $ 45 Allowance for loan losses 3,143 2,862 Accrued expenses 137 131 Accumulated depreciation and amortization 935 797 Deferred gain on sale 129 167 Purchase accounting 123 141 Net unrealized loss on investment securities available for sale — 829 Operating lease liabilities 971 — Other 352 242 Total deferred tax assets 5,853 5,214 Deferred tax liabilities: FHLB stock dividend (38) (97) Prepaid expenses (84) (148) Operating lease right-of-use assets (947) — Net unrealized gain on investment securities available for sale (663) — Loan fees/costs (844) (774) Total deferred tax liabilities (2,576) (1,019) Deferred tax assets, net $ 3,277 $ 4,195 A reconciliation of the Company’s effective income tax rate with the federal statutory tax rate is as follows for the years indicated: Year Ended March 31, 2020 2019 2018 Statutory federal income tax rate 21.0 % 21.0 % 30.8 % State and local income tax rate 3.0 3.0 2.5 Revaluation of net deferred tax assets due to Tax Act — — 11.4 ESOP market value adjustment (0.1) (0.1) — BOLI (1.0) (0.8) (1.5) Other, net 0.6 (0.1) (0.1) Effective federal income tax rate 23.5 % 23.0 % 43.1 % For the fiscal years ended 2020 and 2019, the Company utilized a federal corporate income tax rate of 21.0%. On December 22, 2017, the federal government enacted the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act made significant changes to the U.S. tax law including, among other things: a reduction in the federal corporate income tax rate from a maximum of 35.0% to 21.0% effective January 1, 2018; changes to the tax treatment of net operating loss carryforwards and carrybacks; and a repeal of the corporate alternative minimum tax. The Tax Act reduced the Company’s federal corporate income tax rate from 34.0% to a blended federal corporate income tax rate of 30.8% for the fiscal year ended March 31, 2018. As a result of using a blended tax rate, the Company recognized a $422,000 benefit for income taxes during the year ended March 31, 2018. Also as a result of the Tax Act, the reduction of the corporate tax rate required the Company to remeasure its deferred tax assets and liabilities based upon the lower federal tax rate. Accordingly, during the year ended March 31, 2018, the Company recorded a one-time $2.1 million charge to the provision for income taxes in conjunction with remeasuring its net deferred tax assets to account for the future impact of the decrease in the federal corporate income tax rate. In addition, during the year ended March 31, 2018, the Company made an adjustment between retained earnings and AOCI related to the stranded tax effects due to the change in the federal corporate tax rate applied to the net unrealized losses on available for sale investment securities. The Bank’s retained earnings at both March 31, 2020 and 2019 include a base year allowance for loan losses, which amounted to $2.2 million, for which no federal income tax liability has been recognized. The related unrecognized deferred tax liability at both March 31, 2020 and 2019 was $517,000. This represents the balance of the allowance for loan losses created for tax purposes as of December 31, 1987. This amount is subject to recapture in the unlikely event that the Company’s banking subsidiaries (1) make distributions in excess of current and accumulated earnings and profits, as calculated for federal tax purposes, (2) redeem their stock, or (3) liquidate. Management does not expect this temporary difference to reverse in the foreseeable future. At March 31, 2020 and 2019, the Company had no unrecognized tax benefits or uncertain tax positions. In addition, the Company had no accrued interest or penalties related to income tax matters as of March 31, 2020 or 2019. It is the Company’s policy to recognize potential accrued interest and penalties related to income tax matters as a component of the provision for income taxes. The Company is subject to U.S. federal and State of Oregon income taxes. The years 2017 to 2019 remain open to examination for federal income taxes, and the years 2016 to 2019 remain open to State of Oregon examination.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Mar. 31, 2020
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS	12. EMPLOYEE BENEFIT PLANS Retirement Plan – The Riverview Bancorp, Inc. Employees’ Savings and Profit Sharing Plan (the “Plan”) is a defined contribution profit-sharing plan incorporating the provisions of Section 401(k) of the Internal Revenue Code. Company expenses related to the Plan for the years ended March 31, 2020, 2019 and 2018 were $561,000, $527,000 and $547,000, respectively. Directors’ and Executive Officers’ Deferred Compensation Plan (“Deferred Compensation Plan”) – The Deferred Compensation Plan is a nonqualified deferred compensation plan. Directors may elect to defer their monthly directors’ fees until retirement with no income tax payable by the director until retirement benefits are received. The Chairman, President, and Executive and Senior Vice Presidents of the Company may also defer salary into the Deferred Compensation Plan. The Company accrues annual interest on the unfunded liability under the Deferred Compensation Plan based upon a formula relating to gross revenues, which was 4.46%, 4.28% and 3.99% for the years ended March 31, 2020, 2019 and 2018, respectively. The estimated liability under the Deferred Compensation Plan is accrued as earned by the participants. At March 31, 2020 and 2019, the Company’s aggregate liability under the Deferred Compensation Plan was $263,000 and $186,000, respectively, which is recorded in accrued expenses and other liabilities in the accompanying consolidated balance sheets. Stock Option Plans – 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 2003 Plan; however, any awards granted prior to their respective expiration dates remain outstanding subject to their terms. Each option granted under 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, the shareholders of the Company approved the Riverview Bancorp, Inc. 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. The 2003 Plan and the 2017 Plan are collectively referred to as “the Stock Option Plans.” The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes stock option valuation model. The fair value of all awards is amortized on a straight-line basis over the requisite service periods, which are generally the vesting periods. The expected life of options granted represents the period of time that they are expected to be outstanding. The expected life is determined based on historical experience with similar options, giving consideration to the contractual terms and vesting schedules. Expected volatility is estimated at the date of grant based on the historical volatility of the Company’s common stock. Expected dividends are based on dividend trends and the market value of the Company’s common stock at the time of grant. The risk-free interest rate for periods within the contractual life of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. There were no stock options granted during the years ended March 31, 2020, 2019 and 2018 under the Stock Option Plans. As of March 31, 2020, all outstanding stock options were fully vested and there was no remaining unrecognized compensation expense related to stock options granted under the Stock Option Plans. There was no stock-based compensation expense related to stock options for the years ended March 31, 2020, 2019 and 2018 under the Stock Option Plans. The following table presents the activity related to stock options under the Stock Option Plans for the years indicated: Year Ended March 31, 2020 2019 2018 Weighted Weighted Weighted Average Average Average Number of Exercise Number of Exercise Number of Exercise Shares Price Shares Price Shares Price Balance, beginning of year 101,332 $ 3.26 141,365 $ 3.77 220,654 $ 4.74 Options exercised (58,000) 3.69 (37,533) 4.84 (59,289) 4.13 Options expired — — (2,500) 8.12 (20,000) 13.42 Balance, end of year 43,332 $ 2.69 101,332 $ 3.26 141,365 $ 3.77 Additional information regarding stock options outstanding as of March 31, 2020 is as follows: Options Outstanding Options Exercisable Weighted Avg Weighted Weighted Remaining Average Average Range of Contractual Exercise Exercise Exercise Price Life (years) Number Price Number Price $1.00 - $3.00 2.80 43,332 $ 2.69 43,332 $ 2.69 The following table presents information on stock options outstanding, less estimated forfeitures, as of March 31, 2020 and 2019: March 31, 2020 March 31, 2019 Stock options fully vested and expected to vest: Number 43,332 101,332 Weighted average exercise price $ 2.69 $ 3.26 Aggregate intrinsic value (1) $ 101,000 $ 410,000 Weighted average contractual term of options (years) 2.80 2.20 Stock options fully vested and currently exercisable: Number 43,332 101,332 Weighted average exercise price $ 2.69 $ 3.26 Aggregate intrinsic value (1) $ 101,000 $ 410,000 Weighted average contractual term of options (years) 2.80 2.20 (1) The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price) that would have been received by the option holders had all option holders exercised. This amount changes based on changes in the market value of the Company's stock. The total intrinsic value of stock options exercised was $238,000, $153,000 and $257,000 for the years ended March 31, 2020, 2019 and 2018, respectively. During the year ended March 31, 2020, the Company granted a total of 82,673 shares of restricted stock pursuant to the 2017 Plan of which vesting for 49,298 shares of restricted stock were time based and vesting for 33,375 shares of restricted stock were performance based subject to attaining certain performance metrics. The fair value of restricted stock awards is equal to the fair value of the Company's stock on the date of grant. The related stock-based compensation expense is recorded over the requisite service period. Stock-based compensation related to restricted stock grants was $302,000 for the year ended March 31, 2020. There was no stock-based compensation related to restricted stock for the years ended March 31, 2019 and 2018. The unrecognized stock-based compensation related to restricted stock was $323,000 at March 31, 2020. The weighted average vesting period for the restricted stock was 1.68 years at March 31, 2020. The following table presents the activity related to restricted stock for the year ended March 31, 2020: Time-Based Performance-Based Total Weighted Weighted Weighted Number of Average Number of Average Number of Average Unvested Market Unvested Market Unvested Market Shares Price Shares Price Shares Price Balance, beginning of period — $ — — $ — — $ — Granted 49,298 8.35 33,375 8.35 82,673 8.35 Forfeited — — — — — — Vested — — — — — — Cancelled — — — — — — Balance, end of period 49,298 $ 8.35 33,375 $ 8.35 82,673 $ 8.35 The Company anticipates cancelling approximately 8,000 shares of performance-based restricted stock subsequent to March 31, 2020 due to not achieving certain performance metrics. Employee Stock Ownership Plan - The Company sponsors an ESOP that covers all employees with at least one year and 1,000 hours of service who are over the age of 21. During the year ended March 31, 2018, all remaining unreleased ESOP shares were allocated to participants. Accordingly, as of March 31, 2018, all of the original 962,584 ESOP shares had been released and allocated to participant accounts. ESOP compensation expense included in salaries and employee benefits was $148,000 for the year ended March 31, 2018. For the years ended March 31, 2020 and 2019, the Bank purchased 43,545 and 25,000 shares of common stock, respectively, on the open market and contributed such shares to the ESOP as a discretionary employer contribution. As of March 31, 2020, there were approximately 19,000 shares which had not been allocated to participant accounts under the Company’s ESOP. As of March 31, 2019, there were an insignificant number of shares which had not been allocated to participant accounts under the Company’s ESOP. The Company recorded employee benefits expense of $195,000 and $197,000 for these contributions for the years ended March 31, 2020 and 2019, respectively, which represented the fair value of the related common stock on the date it was acquired. Shares held by the ESOP at March 31, 2020 and 2019 totaled 410,045 and 441,966, respectively. Trust Company Stock Options – At March 31, 2020 and 2019, there were 1,000 and 2,500 Trust Company stock options outstanding, respectively, which had been granted to the President and Chief Executive Officer of the Trust Company. During each of the years ended March 31, 2020 and 2019, the Trust Company incurred $44,000 of stock-based compensation expense related to these options. For the year ended March 31, 2020, 1,500 Trust Company stock options were exercised. For the year ended March 31, 2019, no Trust Company stock options were exercised. There were no Trust Company stock options granted during the years ended March 31, 2020, 2019 and 2018.

SHAREHOLDERS' EQUITY AND REGULA

SHAREHOLDERS' EQUITY AND REGULATORY CAPITAL REQUIREMENTS	12 Months Ended
	Mar. 31, 2020
Shareholders Equity And Regulatory Capital Requirements [Abstract]
SHAREHOLDERS' EQUITY AND REGULATORY CAPITAL REQUIREMENTS	13. SHAREHOLDERS’ EQUITY AND REGULATORY CAPITAL REQUIREMENTS The Bank is subject to various regulatory capital requirements administered by the Office of the Comptroller of the Currency (“OCC”) . Failure to meet minimum capital requirements can result in the initiation of certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements . Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios of total and tier I capital to risk-weighted assets, core capital to total assets and tangible capital to tangible assets (set forth in the table below). Management believes the Bank met all capital adequacy requirements to which it was subject as of March 31, 2020. As of March 31, 2020, the most recent notification from the OCC categorized the Bank as “well capitalized” under the regulatory framework for prompt corrective action. The Bank’s actual and required minimum capital amounts and ratios were as follows at the dates indicated (dollars in thousands): "Well Capitalized" For Capital Under Prompt Actual Adequacy Purposes Corrective Action Amount Ratio Amount Ratio Amount Ratio March 31, 2020 Total Capital: (To Risk-Weighted Assets) $ 145,949 17.01 % $ 68,630 8.0 % $ 85,787 10.0 % Tier 1 Capital: (To Risk-Weighted Assets) 135,196 15.76 51,472 6.0 68,630 8.0 Common equity tier 1 Capital: (To Risk-Weighted Assets) 135,196 15.76 38,604 4.5 55,762 6.5 Tier 1 Capital (Leverage): (To Average Tangible Assets) 135,196 11.79 45,851 4.0 57,313 5.0 "Well Capitalized" For Capital Under Prompt Actual Adequacy Purposes Corrective Action March 31, 2019 Amount Ratio Amount Ratio Amount Ratio Total Capital: (To Risk-Weighted Assets) $ 140,062 16.88 % $ 66,379 8.0 % $ 82,974 10.0 % Tier 1 Capital: (To Risk-Weighted Assets) 129,671 15.63 49,784 6.0 66,379 8.0 Common equity tier 1 Capital: (To Risk-Weighted Assets) 129,671 15.63 37,338 4.5 53,933 6.5 Tier 1 Capital (Leverage): (To Average Tangible Assets) 129,671 11.56 44,874 4.0 56,092 5.0 In addition to the minimum common equity tier 1 (“CET1”), Tier 1 and total capital ratios, the Bank is required to maintain a capital conservation buffer consisting of additional CET1 capital in order to avoid limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses based on percentages of eligible retained income that could be utilized for such actions. The capital conservation buffer is required to be an amount greater than 2.5% of risk-weighted assets. As of March 31, 2020, the Bank’s CET1 capital exceeded the required capital conservation buffer at an amount greater than 2.5%. For a savings and loan holding company, such as the Company, the capital guidelines apply on a bank only basis. The Federal Reserve expects the holding company’s subsidiary banks to be well capitalized under the prompt corrective action regulations. If the Company was subject to regulatory guidelines for bank holding companies at March 31, 2020, the Company would have exceeded all regulatory capital requirements. At periodic intervals, the OCC and the FDIC routinely examine the Bank’s financial condition and risk management processes as part of their legally prescribed oversight. Based on their examinations, these regulators can direct that the Company’s consolidated financial statements be adjusted in accordance with their findings. A future examination by the OCC or the FDIC could include a review of certain transactions or other amounts reported in the Company’s 2020 consolidated financial statements.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Mar. 31, 2020
EARNINGS PER SHARE
EARNINGS PER SHARE	14. 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 and assumed vesting of restricted stock. For the years ended March 31, 2020 and 2019, there were no stock options excluded in computing diluted EPS. For the year ended March 31, 2018, stock options for 8,000 shares of common stock were excluded in computing diluted EPS because they were antidilutive. In February 2020, the Company’s Board of Directors adopted a stock repurchase program (the “repurchase program”). Under the repurchase program, the Company may repurchase up to 500,000 shares of the Company’s outstanding shares of common stock, in the open market based on prevailing market prices, or in private negotiated transactions, during the period from March 12, 2020 until the earlier of the completion of the repurchase of 500,000 shares of the Company’s common stock or the next six months, depending on market conditions. As of March 31, 2020, the Company had repurchased 204,100 shares under the repurchase program at an average price of $4.94 per share. As of April 17, 2020, the Company had repurchased the remaining 295,900 shares at an average price of $4.85 per share. The Company did not repurchase any shares of its common stock during the years ended March 31, 2019 or 2018. The following table presents a reconciliation of the components used to compute basic and diluted EPS for the years indicated: Year Ended March 31, (Dollars and share data in thousands, except per share data) 2020 2019 2018 Basic EPS computation: Numerator-net income $ 15,748 $ 17,266 $ 10,242 Denominator-weighted average common shares outstanding 22,643 22,588 22,531 Basic EPS $ 0.70 $ 0.76 $ 0.45 Diluted EPS computation: Numerator-net income $ 15,748 $ 17,266 $ 10,242 Denominator-weighted average common shares outstanding 22,643 22,588 22,531 Effect of dilutive stock options and restricted stock 55 72 92 Weighted average common shares and common stock equivalents 22,698 22,660 22,623 Diluted EPS $ 0.69 $ 0.76 $ 0.45

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Mar. 31, 2020
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	15. FAIR VALUE MEASUREMENTS Fair value is defined under GAAP as the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. GAAP requires that valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. GAAP also establishes a fair value hierarchy which prioritizes the valuation inputs into three broad levels. Based on the underlying inputs, each fair value measurement in its entirety is reported in one of three levels. These levels are: 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. The following tables present assets that are measured at estimated fair value on a recurring basis at the dates indicated (in thousands): Estimated Fair Value Measurements Using Total Estimated March 31, 2020 Fair Value Level 1 Level 2 Level 3 Investment securities available for sale: Municipal securities $ 4,877 $ — $ 4,877 $ — Agency securities 6,016 — 6,016 — Real estate mortgage investment conduits 43,791 — 43,791 — Residential mortgage-backed securities 60,085 — 60,085 — Other mortgage-backed securities 33,522 — 33,522 — Total assets measured at fair value on a recurring basis $ 148,291 $ — $ 148,291 $ — Estimated Fair Value Measurements Using Total Estimated March 31, 2019 Fair Value Level 1 Level 2 Level 3 Investment securities available for sale: Municipal securities $ 8,881 $ — $ 8,881 $ — Agency securities 12,341 — 12,341 — Real estate mortgage investment conduits 40,162 — 40,162 — Residential mortgage-backed securities 75,821 — 75,821 — Other mortgage-backed securities 41,021 — 41,021 — Total assets measured at fair value on a recurring basis $ 178,226 $ — $ 178,226 $ — There were no transfers of assets into or out of Levels 1, 2 or 3 during the years ended March 31, 2020 and 2019. The following methods were used to estimate the fair value of investment securities in the above table: Investment securities are included within Level 1 of the hierarchy when quoted prices in an active market for identical assets are available. The Company uses a third-party pricing service to assist the Company in determining the fair value of its Level 2 securities, which incorporates pricing models and/or quoted prices of investment securities with similar characteristics. Investment securities are included within Level 3 of the hierarchy when there are significant unobservable inputs. 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, management 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. The following tables present assets that are measured at estimated fair value on a nonrecurring basis at the dates indicated (in thousands): Estimated fair value measurements using Total estimated fair value Level 1 Level 2 Level 3 March 31, 2020 Impaired loans $ 125 $ — $ — $ 125 March 31, 2019 Impaired loans $ 394 $ — $ — $ 394 The following table presents quantitative information about Level 3 inputs for financial instruments measured at fair value on a nonrecurring basis at March 31, 2020 and 2019: Valuation technique Significant unobservable inputs Range Impaired loans Appraised value Discounted cash flows Adjustment for market conditions Discount rate N/A (1) 5.25% - 8.00% (1) There were no adjustments to appraised values of impaired loans as of March 31, 2020 and 2019. For information regarding the Company’s method for estimating the fair value of impaired loans, see Note 1 – Summary of Significant Accounting Policies – Allowance for Loan Losses. 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 amounts and estimated fair values of financial instruments are as follows at the dates indicated (in thousands): Carrying Estimated March 31, 2020 Amount Level 1 Level 2 Level 3 Fair Value Assets: Cash and cash equivalents $ 41,968 $ 41,968 $ — $ — $ 41,968 Certificates of deposit held for investment 249 — 258 — 258 Loans held for sale 275 — 275 — 275 Investment securities available for sale 148,291 — 148,291 — 148,291 Investment securities held to maturity 28 — 28 — 28 Loans receivable, net 898,885 — — 889,398 889,398 FHLB stock 1,420 — 1,420 — 1,420 Liabilities: Certificates of deposit 134,941 — 136,997 — 136,997 Junior subordinated debentures 26,662 — — 12,127 12,127 Carrying Estimated March 31, 2019 Amount Level 1 Level 2 Level 3 Fair Value Assets: Cash and cash equivalents $ 22,950 $ 22,950 $ — $ — $ 22,950 Certificates of deposit held for investment 747 — 746 — 746 Loans held for sale 909 — 909 — 909 Investment securities available for sale 178,226 — 178,226 — 178,226 Investment securities held to maturity 35 — 35 — 35 Loans receivable, net 864,659 — — 862,429 862,429 FHLB stock 3,644 — 3,644 — 3,644 Liabilities: Certificates of deposit 86,006 — 84,455 — 84,455 FHLB advances 56,586 — 56,586 — 56,586 Junior subordinated debentures 26,575 — — 15,468 15,468 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.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	12 Months Ended
	Mar. 31, 2020
REVENUE FROM CONTRACTS WITH CUSTOMERS
REVENUE FROM CONTRACTS WITH CUSTOMERS	16. REVENUE FROM CONTRACTS WITH CUSTOMERS In accordance with ASC Topic 606 “Revenues from Contracts with Customers” (“ASC 606”), revenues are recognized when goods or services are transferred to the customer in exchange for the consideration the Company expects to be entitled to receive. The largest portion of the Company’s revenue is from interest income, which is not within the scope of ASC 606. All of the Company's revenue from contracts with customers within the scope of ASC 606 is recognized in non-interest income with the exception of gains on sales of REO, which are included in non-interest expense. If a contract is determined to be within the scope of ASC 606, the Company recognizes revenue as it satisfies a performance obligation. Payments from customers are generally collected at the time services are rendered, monthly, or quarterly. For contracts with customers within the scope of ASC 606, revenue is either earned at a point in time or revenue is earned over time. Examples of revenue earned at a point in time are automated teller machine ("ATM") transaction fees, wire transfer fees, overdraft fees and interchange fees. Revenue earned at a point in time is primarily based on the number and type of transactions that are generally derived from transactional information accumulated by the Company’s systems and is recognized immediately as the transactions occur or upon providing the service to complete the customer’s transaction. The Company is generally the principal in these contracts, with the exception of interchange fees, in which case the Company is acting as the agent and records revenue net of expenses paid to the principal. Examples of revenue earned over time, which generally occur on a monthly basis, are deposit account maintenance fees, investment advisory fees, merchant revenue, trust and investment management fees and safe deposit box fees. Revenue is generally derived from transactional information accumulated by the Company’s systems or those of third-parties and is recognized as the related transactions occur or services are rendered to the customer. Disaggregation of Revenue The following table includes the Company’s non-interest income disaggregated by type of service (in thousands): Year Ended March 31, 2020 2019 2018 Asset management fees $ 4,408 $ 3,791 $ 3,448 Debit card and ATM fees 3,102 3,104 2,961 Deposit related fees 2,212 1,721 1,628 Loan related fees 605 507 317 BOLI (1) 864 734 819 Net gains on sales of loans held for sale (1) 252 317 641 FHLMC loan servicing fees (1) 147 141 122 Other, net 770 792 714 Total non-interest income $ 12,360 $ 11,107 $ 10,650 (1) Not within the scope of ASC 606 For the years ended March 31, 2020, 2019 and 2018, substantially all of the Company’s revenues within the scope of ASC 606 are for performance obligations satisfied at a point in time. Revenues recognized within the scope of ASC 606 Asset management fees : Asset management fees are variable, since they are based on the underlying portfolio value, which is subject to market conditions and amounts invested by clients through the Trust Company. Asset management fees are recognized over the period that services are provided, and when the portfolio values are known or can be estimated at the end of each quarter. Debit card and ATM fees : Debit and ATM interchange income represents fees earned when a debit card issued by the Bank is used. The Bank earns interchange fees from debit cardholder transactions through the MasterCard® payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided to the cardholder. The performance obligation is satisfied and the fees are earned when the cost of the transaction is charged to the cardholders’ debit card. Certain expenses directly associated with the debit cards are recorded on a net basis with the interchange income. Deposit related fees : Fees are earned on the Bank’s deposit accounts for various products offered to or services performed for the Bank’s customers. Fees include business account fees, non-sufficient fund fees, stop payment fees, wire services, safe deposit box and others. These fees are recognized on a daily, monthly or quarterly basis, depending on the type of service. Loan related fees : Non-interest loan fee income is earned on loans that the Bank services, excluding loans serviced for the FHLMC which are not within the scope of ASC 606. Loan related fees include prepayment fees, late charges, brokered loan fees, maintenance fees and others. These fees are recognized on a daily, monthly, quarterly or annual basis, depending on the type of service. Other : Fees earned on other services, such as merchant services or occasional non-recurring type services, are recognized at the time of the event or the applicable billing cycle. Contract Balances As of March 31, 2020 and 2019, the Company had no significant contract liabilities where the Company had an obligation to transfer goods or services for which the Company had already received consideration. In addition, the Company had no material unsatisfied performance obligations as of March 31, 2020 and 2019.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Mar. 31, 2020
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	17. COMMITMENTS AND CONTINGENCIES Off-balance sheet arrangements – In the normal course of business, the Company is a party to financial instruments with off-balance sheet risk in order to meet the financing needs of its customers. These financial instruments generally include commitments to originate mortgage, commercial and consumer loans. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated balance sheets. The Company’s maximum exposure to credit loss in the event of nonperformance by the borrower is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments as it does for on-balance sheet instruments. Commitments to originate loans are conditional and are honored for up to 45 days subject to the Company’s usual terms and conditions. Collateral is not required to support commitments. 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 are listed below at the dates indicated (in thousands): Contract or Notional Amount March 31, 2020 March 31, 2019 Commitments to originate loans: Adjustable-rate $ 18,712 $ 30,579 Fixed-rate 17,085 10,158 Standby letters of credit 2,045 2,410 Undisbursed loan funds and unused lines of credit 122,840 139,842 Total $ 160,682 $ 182,989 At March 31, 2020, the Company had firm commitments to sell $1.1 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 – In connection with certain asset sales, the Company typically makes representations and warranties about the underlying assets conforming to specified guidelines. If the underlying assets do not conform to the specifications, the Company may have an obligation to repurchase the assets or indemnify the purchaser against loss. At March 31, 2020, loans under warranty totaled $99.5 million, which substantially represents the unpaid principal balance of the Company’s loans serviced for the FHLMC. The Company believes that the potential for loss under these arrangements is remote. At March 31, 2020, the Company had an allowance for FHLMC loans of $12,000. 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 for the years ended March 31, 2020, 2019 and 2018. The Bank has entered into employment contracts with certain key employees, which provide for contingent payments subject to future events. Litigation – The Company is periodically a party to litigation arising in the ordinary course of business. In the opinion of management, these actions will not have a material adverse effect, if any, on the Company’s future consolidated financial position, results of operations and cash flows.

LEASES

LEASES	12 Months Ended
	Mar. 31, 2020
LEASES
LEASES	18. LEASES The Company has a finance lease for the shell of the building constructed as the Company’s operations center which expires in November 2039. The Company is also obligated under various noncancelable operating lease agreements for land, buildings and equipment that require future minimum rental payments. For operating each lease, the Company records an operating lease right-of-use asset (representing the right to use the underlying asset for the lease term) and an operating lease liability (representing the obligation to make lease payments required under the terms of the lease). Right-of-use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The Company uses its estimated incremental borrowing rate – derived from information available at the lease commencement date – as the discount rate when determining the present value of lease payments. The Company does not have any operating leases with an initial term of 12 months or less. Certain operating leases contain various provisions for increases in rental rates, based either on changes in the published Consumer Price Index or a predetermined escalation schedule. Certain operating leases provide the Company with the option to extend the lease term one or more times following expiration of the initial term. Lease extensions are not reasonably certain and the Company generally does not include payments occurring during option periods in the calculation of its operating lease right-of-use assets and operating lease liabilities. The Company adopted the requirements of ASC 842 effective April 1, 2019, which required the Company to record in the consolidated balance sheet operating lease right-of-use assets and operating lease liabilities for leases with an initial term of more than 12 months for leases that existed as of April 1, 2019. The periods prior to the date of adoption are accounted for under superseded ASC 840; therefore, the following disclosures include only the period for which ASC 842 was effective. The table below presents the lease right-of-use assets and lease liabilities recorded in the consolidated balance sheet at March 31, 2020 (in thousands): Leases Classification in the consolidated balance sheets Finance lease right-of-use asset $ 1,508 Premises and equipment, net Finance lease liability $ 2,369 Finance lease liability Finance lease remaining lease term 19.68 years Finance lease discount rate 7.16 % Operating lease right-of-use assets $ 3,949 Prepaid expenses and other assets Operating lease liabilities $ 4,046 Accrued expenses and other liabilities Operating lease weighted-average remaining lease term 3.92 years Operating lease weighted-average discount rate 2.77 % The table below presents certain information related to the lease costs for operating leases, which are recorded in occupancy and depreciation in the accompanying consolidated statements of income, for the year ended March 31, 2020 (in thousands): Lease Costs Finance lease amortization of right-of-use asset $ 77 Finance lease interest on lease liability 171 Operating lease costs 1,508 Variable lease costs 209 Total lease cost (1) $ 1,965 (1) income related to sub-lease activity is not significant and is not presented herein. Rent expense was $2.0 million and $2.1 million for the years ended March 31, 2019 and 2018, respectively. Supplemental cash flow information – Operating cash flows paid for operating lease amounts included in the measurement of lease liabilities was $1.7 million for the year ended March 31, 2020. During the year ended March 31, 2020, the Company did not record any lease right-of-use assets that were exchanged for operating lease liabilities. The following table reconciles the undiscounted cash flows for the periods presented related to the Company’s lease liabilities as of March 31, 2020 (in thousands): Years Ending March 31: Operating Finance Leases Lease 2021 $ 1,011 $ 208 2022 747 212 2023 573 215 2024 583 219 2025 577 222 Thereafter 929 3,400 Total minimum lease payments 4,420 4,476 Less: amount of lease payment representing interest (374) (2,107) Lease liabilities $ 4,046 $ 2,369 In March 2010, the Company sold two of its branch locations. The Company maintains a substantial continuing involvement in the locations through various non-cancellable operating leases that contain certain renewal options. The resulting gain on sale of $2.1 million was deferred and is being amortized over the lives of the respective leases. At March 31, 2020, the remaining deferred gain was $537,000 and is included in accrued expenses and other liabilities in the accompanying consolidated balance sheet.

RIVERVIEW BANCORP, INC. (PARENT

RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY)	12 Months Ended
	Mar. 31, 2020
Condensed Financial Information Disclosure [Abstract]
RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY)	19. RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) BALANCE SHEETS AS OF MARCH 31, 2020 AND 2019 (In thousands) 2020 2019 ASSETS Cash and cash equivalents $ 10,269 $ 4,178 Investment in the Bank 165,130 155,041 Other assets 1,440 1,445 TOTAL ASSETS $ 176,839 $ 160,664 LIABILITIES AND SHAREHOLDERS' EQUITY Accrued expenses and other liabilities $ 199 $ 63 Dividend payable 1,135 904 Borrowings 26,662 26,575 Shareholders' equity 148,843 133,122 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 176,839 $ 160,664 STATEMENTS OF INCOME FOR THE YEARS ENDED MARCH 31, 2020, 2019 AND 2018 (In thousands) 2020 2019 2018 INCOME: Interest on investment securities and other short-term investments $ 33 $ 35 $ 26 Interest on loan receivable from the Bank — — 6 Total income 33 35 32 EXPENSE: Management service fees paid to the Bank 143 143 143 Other expenses 1,233 1,298 1,020 Total expense 1,376 1,441 1,163 LOSS BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF THE BANK (1,343) (1,406) (1,131) BENEFIT FOR INCOME TAXES (282) (294) (513) LOSS OF PARENT COMPANY (1,061) (1,112) (618) EQUITY IN UNDISTRIBUTED INCOME OF THE BANK 16,809 18,378 10,860 NET INCOME $ 15,748 $ 17,266 $ 10,242 There were no items of other comprehensive income that were solely attributable to the parent company. RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED MARCH 31, 2020, 2019 AND 2018 (In thousands) 2020 2019 2018 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 15,748 $ 17,266 $ 10,242 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in undistributed income of the Bank (16,809) (18,378) (10,860) Amortization 87 91 94 Provision for deferred income taxes — 10 174 Earned ESOP shares — — 148 Stock based compensation 346 44 88 Changes in assets and liabilities: Other assets (278) (447) 1,770 Accrued expenses and other liabilities 364 97 (220) Net cash provided by (used in) operating activities (542) (1,317) 1,436 CASH FLOWS FROM INVESTING ACTIVITIES: Dividend from the Bank 11,500 2,000 1,750 Net cash provided by investing activities 11,500 2,000 1,750 CASH FLOWS FROM FINANCING ACTIVITIES: Dividends paid (4,075) (3,163) (2,140) Proceeds from exercise of stock options 227 179 245 Repurchase of common stock (1,019) — — Net cash used in financing activities (4,867) (2,984) (1,895) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 6,091 (2,301) 1,291 CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 4,178 6,479 5,188 CASH AND CASH EQUIVALENTS, END OF YEAR $ 10,269 $ 4,178 $ 6,479 RIVERVIEW BANCORP, INC. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED): (Dollars in thousands, except per share data) Three Months Ended Fiscal 2020: March 31 December 31 September 30 June 30 Interest and dividend income $ 12,291 $ 12,766 $ 12,882 $ 12,556 Interest expense 1,241 1,274 1,163 1,086 Net interest income 11,050 11,492 11,719 11,470 Provision for loan losses 1,250 — — — Non-interest income, net 2,892 3,163 3,169 3,136 Non-interest expense 8,818 9,248 9,003 9,194 Income before income taxes 3,874 5,407 5,885 5,412 Provision for income taxes 980 1,279 1,351 1,220 Net income $ 2,894 $ 4,128 $ 4,534 $ 4,192 Basic earnings per common share (1) $ 0.13 $ 0.18 $ 0.20 $ 0.19 Diluted earnings per common share (1) $ 0.13 $ 0.18 $ 0.20 $ 0.18 Fiscal 2019: Interest and dividend income $ 12,802 $ 12,390 $ 12,389 $ 12,288 Interest expense 930 656 611 618 Net interest income 11,872 11,734 11,778 11,670 Provision for loan losses — - 250 (200) Non-interest income, net 2,670 2,728 2,840 2,869 Non-interest expense 8,962 8,803 8,915 9,019 Income before income taxes 5,580 5,659 5,453 5,720 Provision for income taxes 1,373 1,271 1,224 1,278 Net income $ 4,207 $ 4,388 $ 4,229 $ 4,442 Basic earnings per common share (1) $ 0.19 $ 0.19 $ 0.19 $ 0.20 Diluted earnings per common share (1) $ 0.19 $ 0.19 $ 0.19 $ 0.20 (1) Quarterly earnings per common share may vary from annual earnings per common share due to rounding.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation – The accompanying consolidated financial statements include the accounts of Riverview Bancorp, Inc.; its wholly-owned subsidiary, Riverview Community Bank (the "Bank"); the Bank’s wholly-owned subsidiary, Riverview Services, Inc., and the Bank's majority-owned subsidiary, Riverview Trust Company (the "Trust Company") (collectively referred to as the "Company"). All inter-company transactions and balances have been eliminated in consolidation. For the period from April 1, 2017 through December 2019, the Trust Company was a wholly-owned subsidiary of the Bank. In December 2019, the Trust Company issued 1,500 shares of Trust Company stock in conjunction with the exercise of 1,500 Trust Company stock options by the Trust Company's President and Chief Executive Officer . As a result of this transaction, the Bank's ownership in the Trust Company decreased from 100% to 98%, resulting in a noncontrolling interest. The noncontrolling interest was $107,000 as of March 31, 2020, and net income attributable to the noncontrolling interest was $5,000 for the year ended March 31, 2020. These amounts are not presented separately in the accompanying consolidated financial statements due to their insignificance. The Company has three subsidiary grantor trusts which were established in connection with the issuance of trust preferred securities (see Note 10). In accordance with accounting principles generally accepted in the United States of America ("generally accepted accounting principles" or “GAAP”), the accounts and transactions of the trusts are not included in the accompanying consolidated financial statements.
Nature of Operations	Nature of Operations – The Bank is a community-oriented financial institution which operates 18 branches in rural and suburban communities in southwest Washington State and Multnomah, Washington and Marion counties of Oregon. The Bank is engaged primarily in the business of attracting deposits from the general public and using such funds, together with other borrowings, to make various commercial business, commercial real estate, land, multi-family real estate, real estate construction and consumer loans. Additionally, the Trust Company offers trust and investment services and Riverview Services , Inc. acts as a trustee for deeds of trust on mortgage loans granted by the Bank and receives a reconveyance fee for each deed of trust. In September 2018, the Bank completed a purchase and assumption transaction in which all of the Bank’s Longview, Washington branch deposits were sold to a community bank headquartered in Longview. The Bank sold approximately $3.2 million of deposits and recognized a gain on sale of these deposits of approximately $70,000, which is included in other non-interest income in the accompanying consolidated statement of income for the year ended March 31, 2019. This purchase and assumption transaction did not include the sale of any loans or the exchange of any assets or liabilities other than deposits. The Bank subsequently sold the Longview branch land and building in December 2018 and recognized a $355,000 gain on sale, which is included in other non-interest expense in the accompanying consolidated statement of income for the year ended March 31, 2019.
Business segments	Business segments – The Company’s operations are managed along two operating segments, consisting of banking operations performed by the Bank and trust and investment services performed by the Trust Company. While the chief operating decision maker uses financial information related to these segments to analyze business performance and allocate resources, the trust and investment services segment does not meet the quantitative threshold under GAAP to be considered a reportable segment. As such, these operating segments are aggregated into a single reportable operating segment in the consolidated financial statements. No revenues are derived from foreign countries.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Consolidated Financial Statements – The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of related revenue and expense during the reporting period. Actual results could differ from those estimates. The estimates utilized to determine the appropriate allowance for loan losses at March 31, 2020 may be materially different from actual results due to the novel coronavirus of 2019 ("COVID-19") pandemic.
Cash and Cash Equivalents	Cash and Cash Equivalents – Cash and cash equivalents include amounts on hand, due from banks and interest-earning deposits in other banks. Cash and cash equivalents have a maturity of 90 days or less at the time of purchase.
Certificates of Deposit Held for Investment	Certificates of Deposit Held for Investment – Certificates of deposit held for investment include amounts invested with financial institutions at a stated interest rate and maturity date. Early withdrawal penalties apply; however, the Company plans to hold these investments to maturity.
Loans Held for Sale	Loans Held for Sale – The Company identifies loans held for sale at the time of origination and such loans are carried at the lower of aggregate cost or estimated fair value. Estimated fair values are derived from available market quotations for comparable pools of mortgage loans. Adjustments for unrealized losses, if any, are charged to income. Gains or losses on sales of loans held for sale are recognized at the time of sale and are determined by the difference between the net sales proceeds and the allocated basis of these loans sold. The Company capitalizes mortgage servicing rights ("MSRs") acquired through the sale of originated mortgage loans or the securitization of mortgage loans with servicing rights retained. Upon sale of mortgage loans held for sale, the total cost of the loans designated for sale is allocated to mortgage loans with and without MSRs based on their relative fair values. The MSRs are included as a component of net gains on sales of loans held for sale. The MSRs are amortized in proportion to and over the estimated period of the net servicing income and such amortization is reflected as a component of loan servicing income and is included in the consolidated statements of income in other non-interest income.
Investment Securities	Investment Securities – Investments in debt securities are classified as held to maturity when the Company has the ability and positive intent to hold such securities to maturity. Investments in debt securities held to maturity are carried at amortized cost. Unrealized losses on investments in debt securities held to maturity due to fluctuations in fair value are recognized when it is determined that a credit-related other than temporary decline in value has occurred. Investments in debt securities bought and held principally for the purpose of sale in the near-term are classified as trading securities. Investments in debt securities that the Company intends to hold for an indefinite period, but not necessarily to maturity, are classified as available for sale. Such debt securities may be sold to implement the Company’s asset/liability management strategies and in response to changes in interest rates and similar factors. Investments in debt securities available for sale are reported at estimated fair value. Unrealized gains and losses on investment securities available for sale, net of the related deferred tax effect, are included in total comprehensive income and are reported as a net amount in a separate component of shareholders’ equity entitled "accumulated other comprehensive income (loss)." Realized gains and losses on sales of investments in debt securities available for sale, determined using the specific identification method, are included in earnings on the trade date. Amortization of premiums and accretion of discounts are recognized in interest income over the period to contractual maturity or expected call, if sooner. The Company’s investment portfolio consists of debt securities and does not include any equity securities. The Company analyzes investments in debt securities for other than temporary impairment (“OTTI”) on a quarterly basis. OTTI is separated into a credit component and a noncredit component. Credit component losses are reported in non-interest income when the present value of expected future cash flows is less than the amortized cost. Noncredit component losses are recorded in other comprehensive income (loss) when the Company (1) does not intend to sell the security or (2) is not more likely than not to have to sell the security prior to the security’s anticipated recovery. If the Company is likely to sell an investment in a debt security, any noncredit component losses are recognized and are reported in non-interest income.
Loans Receivable	Loans Receivable – Loans are stated at the amount of unpaid principal, reduced by net deferred loan origination fees and an allowance for loan losses. Interest on loans is accrued daily based on the principal amount outstanding. Loans are reviewed regularly and it is the Company’s general policy that a loan is past due when it is 30 days to 89 days delinquent. In general, when a loan is 90 days delinquent or when collection of principal or interest appears doubtful, it is placed on non-accrual status, at which time the accrual of interest ceases and a reserve for unrecoverable accrued interest is established and charged against operations. As a general practice, payments received on non-accrual loans are applied to reduce the outstanding principal balance on a cost recovery method. Also as a general practice, a loan is not removed from non-accrual status until all delinquent principal, interest and late fees have been brought current and the borrower has demonstrated a history of performance based upon the contractual terms of the note. A history of repayment performance generally would be a minimum of six months. Loan origination and commitment fees and certain direct loan origination costs are deferred and amortized as an adjustment of the yield of the related loan.
Acquired Loans	Acquired Loans – Purchased loans, including loans acquired in business combinations, are recorded at their estimated fair value at the acquisition date. Credit discounts are included in the determination of fair value; therefore, an allowance for loan losses is 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 excess of the cash flows expected to be collected over a PCI loan’s carrying value is considered to be the accretable yield and is recognized as interest income over the estimated life of the PCI loan using the effective yield method. The excess of the undiscounted contractual balances due over the cash flows expected to be collected is considered to be the nonaccretable difference. The nonaccretable difference represents the Company’s estimate of the credit losses expected to occur and would be considered in determining the estimated fair value of the loans as of the acquisition date. Subsequent to the acquisition date, any increases in expected cash flows over those expected at the purchase date in excess of fair value are adjusted through a change to the accretable yield on a prospective basis. Any subsequent decreases in expected cash flows attributable to credit deterioration are recognized by recording an allowance for loan losses. The Company had no PCI loans as of March 31, 2020 and 2019. 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 lives of the related loans. Any subsequent deterioration in credit quality is recognized by recording an allowance for loan losses.
Allowance for Loan Losses	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 management’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 loan 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, uncertainties 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 loan 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 loan 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 thereof 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. A loan is considered impaired when it is probable that the Company will be unable to collect all amounts due (principal and interest) according to the contractual terms of the loan agreement. Typically, factors used in determining if 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 troubled debt restructuring ("TDR"). The majority of the Company’s impaired loans are considered collateral dependent. When a loan is considered collateral dependent, impairment is measured using the estimated value of the underlying collateral, less any prior liens, and when applicable, less estimated selling costs. For impaired loans that are not collateral dependent, impairment is measured using the present value of expected future cash flows, discounted at the loan’s original effective interest rate. When the estimated net realizable value of the impaired loan is less than the recorded investment in the loan (including accrued interest, net deferred loan fees or costs, and unamortized premium or discount), an impairment is recognized by adjusting an allocation of the allowance for loan losses. Subsequent to the initial allocation of allowance to the individual loan, the Company may conclude that it is appropriate to record a charge-off of the impaired portion of the loan. When a charge-off is recorded, the loan balance is reduced and the specific allowance is eliminated. Generally, when a collateral dependent loan is initially measured for impairment and has not had an appraisal of the collateral in the last six months, the Company obtains an updated market valuation. Subsequently, the Company generally obtains an updated market valuation of the collateral on an annual basis. The collateral valuation may occur more frequently if the Company determines that there is an indication that the market value may have declined. 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 payments 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 of the underlying collateral 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 charged off. A provision for loan losses is charged against income and is added to the allowance for loan losses based on regular assessments of the loan portfolio. The allowance for loan losses is allocated to certain loan categories based on the relative risk characteristics, asset classifications and actual loss experience of the loan portfolio. While management has allocated the allowance for loan losses to various loan portfolio segments, the allowance is general in nature and is available for the loan portfolio in its entirety. 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.
Allowance for Unfunded Loan Commitments	Allowance for Unfunded Loan Commitments – The allowance for unfunded loan commitments is maintained at a level believed by management to be sufficient to absorb estimated probable losses related to these unfunded credit facilities. The determination of the adequacy of the allowance is based on periodic evaluations of the unfunded credit facilities including an assessment of the probability of commitment usage, credit risk factors for loans outstanding to these same customers, and the terms and expiration dates of the unfunded credit facilities. The allowance for unfunded loan commitments is included in accrued expenses and other liabilities in the consolidated balance sheets, with changes to the balance charged against non-interest expense.
REO	REO – REO consists of properties acquired through foreclosure and is initially recorded at the estimated fair value of the properties, less estimated costs of disposal. At the time of foreclosure, specific charge-offs are taken against the allowance for loan losses based upon a detailed analysis of the fair value of collateral on the underlying loans on which the Company is in the process of foreclosing. Subsequently, the Company performs an evaluation of the properties and records a valuation allowance with an offsetting charge to REO expenses for any declines in value. Management considers third-party appraisals, as well as independent fair market value assessments from realtors or persons involved in selling real estate, in determining the estimated fair value of particular properties. In addition, as certain of these third-party appraisals and independent fair market value assessments are only updated periodically, changes in the values of specific properties may have occurred subsequent to the most recent appraisals. The amounts the Company will ultimately recover and record in the accompanying consolidated financial statements from the disposition of REO may differ from the amounts used in arriving at the net carrying value of these assets because of future market factors beyond the Company’s control or because of changes in the Company’s strategy for the sale of the property. Costs relating to development and improvement of the properties or assets are capitalized, while costs relating to holding the properties or assets are expensed. At March 31, 2020, there were no mortgage loans secured by residential real estate for which formal foreclosure proceedings were in process.
Federal Home Loan Bank Stock	Federal Home Loan Bank Stock – The Bank, as a member of the Federal Home Loan Bank of Des Moines ("FHLB"), is required to maintain a minimum investment in capital stock of the FHLB based on specific percentages of its outstanding FHLB advances. The Company’s investment in FHLB stock is carried at cost, which approximates fair value. The Company views its investment in FHLB stock as a long-term investment. Accordingly, when evaluating FHLB stock for impairment, the value is determined based on the ultimate redemption of the par value rather than recognizing temporary declines in value. The determination of whether a decline affects the ultimate redemption value is influenced by criteria such as: (1) the significance of any decline in net assets of the FHLB as compared to the capital stock amount of the FHLB and the length of time this situation has persisted, (2) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLB, (3) the impact of legislative and regulatory changes on institutions and, accordingly, the customer base of the FHLB, and (4) the liquidity position of the FHLB. The Company evaluated its investment in FHLB stock for OTTI, consistent with its accounting policy. Based on the Company’s evaluation, the Company determined there is not any OTTI on its FHLB stock at March 31, 2020.
Premises and Equipment	Premises and Equipment – Premises and equipment are stated at cost less accumulated depreciation and amortization. Leasehold improvements are amortized over the estimated term of the related lease or the estimated useful life of the improvements, whichever is less. Depreciation and amortization is generally computed on the straight-line method over the following estimated useful lives: buildings and improvements – up to 45 years; furniture and equipment – 3 to 20 years; and leasehold improvements – 15 to 25 years, or estimated lease term if shorter. Gains or losses on dispositions are reflected in earnings. The cost of maintenance and repairs is charged to expense as incurred. Assets are reviewed for impairment when events indicate their carrying value may not be recoverable. If management determines impairment exists the asset is reduced by an offsetting charge to expense. Assets held under the Company’s finance lease, net of accumulated amortization, are included in premises and equipment. The assets held under the finance lease are amortized on a straight-line basis over the lease term and the amortization is included in depreciation and amortization expense.
MSRs	MSRs – The Company services certain loans that it has originated and sold to the Federal Home Loan Mortgage Corporation ("FHLMC"). Loan servicing includes collecting payments; remitting funds to investors, insurance companies and tax authorities; collecting delinquent payments; and foreclosing on properties when necessary. Fees earned for servicing loans for the FHLMC are reported as income when the related mortgage loan payments are collected. Loan servicing costs are charged to expense as incurred. In addition, the Company has recorded MSRs, which represent the rights to service loans. The Company records its originated MSRs at fair value in accordance with GAAP, which requires the Company to allocate the total cost of all mortgage loans sold between the MSRs and the loans (without the MSRs) based on their relative fair values if it is practicable to estimate those fair values. The Company stratifies its MSRs based on the predominant characteristics of the underlying financial assets including the coupon interest rate and the contractual maturity of the mortgage. The Company is amortizing the MSRs in proportion to and over the period of estimated net servicing income. MSRs are reviewed quarterly for impairment based on their estimated fair value . The estimated fair value of the MSRs is determined quarterly using a discounted cash flow model. The model estimates the present value of the future net cash flows of the servicing loan portfolio based on various factors, such as servicing costs, servicing income, expected prepayment speeds, discount rate, loan maturity and interest rate. Market sources are used to determine prepayment speeds, ancillary income, servicing cost and pre-tax required yield. The effect of changes in market interest rates on estimated rates of loan prepayments represents the predominant risk characteristic underlying the MSRs portfolio. Impairment losses are recognized through a valuation allowance for each impaired stratum, with any associated provision recorded as a component of loan servicing income.
Business Combinations, CDI and Goodwill	Business Combinations, CDI and Goodwill – GAAP requires the total purchase price in a business combination to be allocated to the estimated fair values of assets acquired and liabilities assumed, including certain intangible assets. Subsequent adjustments to the initial allocation of the purchase price may be made related to fair value estimates for which all relevant information has not been obtained, known, or discovered relating to the acquired entity during the allocation period (which is the period of time required to identify and measure the estimated fair values of the assets acquired and liabilities assumed in a business combination). The allocation period is generally limited to one year following consummation of a business combination. CDI represents the value assigned to demand, interest checking, money market and savings accounts acquired as part of a business combination. CDI represents the future economic benefit of the potential cost savings from acquiring core deposits as part of a business combination 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. At both March 31, 2020 and 2019, gross CDI was $1.36 million. At March 31, 2020 and 2019, accumulated amortization was $604,000 and $443,000, respectively. The amortization expense for CDI in future years is estimated to be $140,000, $125,000, $116,000, $108,000, $100,000 and $170,000 for the years ended March 31, 2021, 2022, 2023, 2024, 2025 and thereafter, respectively. Goodwill and certain other intangibles generally arise from business combinations. Goodwill and other intangibles generated from business combinations that are deemed to have indefinite lives are not subject to amortization and are instead tested for impairment not less than annually. The Company performs an annual review in the third quarter of each year, or more frequently if indicators of potential impairment exist, to determine if the recorded goodwill is impaired (see Note 7).
BOLI	BOLI – BOLI policies are recorded at their cash surrender value less applicable surrender charges. Income from BOLI is recognized when earned.
Advertising and Marketing	Advertising and Marketing – Costs incurred for advertising, merchandising, market research, community investment and business development are classified as advertising and marketing expense and are expensed as incurred.
Income Taxes	Income Taxes – Income taxes are accounted for using the asset and liability method. Under this method, a deferred tax asset or liability is determined based on the enacted tax rates which will be in effect when the differences between the financial statement carrying amounts and tax basis of existing assets and liabilities are expected to be reported in the Company’s income tax returns. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established to reduce the net carrying amount of deferred tax assets if it is determined to be more likely than not that all or some portion of the potential deferred tax asset will not be realized. The Company files a consolidated federal income tax return. The Bank provides for income taxes separately and remits to the Company amounts currently due.
Transfer of financial assets	Transfers of financial assets – Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
Trust Assets	Trust Assets – Assets held by the Trust Company in a fiduciary or agency capacity for trust customers are not included in the consolidated financial statements because such items are not assets of the Company. Assets totaling $1.2 billion and $646.0 million were held in trust as of March 31, 2020 and 2019, respectively.
Earnings Per Share	Earnings Per Share – GAAP requires all companies whose capital structure includes dilutive potential common shares to make a dual presentation of basic and diluted earnings per share for all periods presented. The Company’s basic earnings per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding for the period, excluding restricted stock and unallocated shares owned by the ESOP. The Company’s diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised and has been computed after giving consideration to the weighted average diluted effect of the Company’s stock options and restricted stock awards.
Stock-Based Compensation	Stock-Based Compensation – The Company measures compensation cost for all stock-based awards based on the grant-date fair value of the awards and recognizes compensation cost over the service period of stock-based awards. The fair value of stock options is determined using the Black-Scholes valuation model. The fair value of restricted stock is determined based on the grant date fair value of the Company's common stock.
ESOP	ESOP – The Company sponsors a leveraged ESOP; however, all ESOP debt was fully repaid during the year ended March 31, 2018. As shares were released, compensation expense was recorded equal to the then current market price of the shares and the shares became available for earnings per share calculations. The Company recorded cash dividends on unallocated shares as a reduction of debt and accrued interest. See Note 12 for further discussion.
Accounting Pronouncements Recently Issued or Adopted	Accounting Pronouncements Recently Issued or Adopted – In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, "Leases", which created FASB Accounting Standards Codification ("ASC") Topic 842 ("ASC 842"). The principal change required by ASC 842 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. ASC 842 also changes disclosure requirements related to leasing activities and requires certain qualitative disclosures along with specific quantitative disclosures. ASC 842 was effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018. The Company adopted ASC 842 effective April 1, 2019 using a modified retrospective method of application to all leases existing on April 1, 2019. Therefore, the comparative prior period information has not been restated and continues to be reported under superseded ASC 840. The adoption of ASC 842 resulted in the Company recognizing operating lease right-of-use assets and operating lease liabilities of $5.6 million in the Company's consolidated balance sheet as of April 1, 2019. As the operating lease right-of-use assets and the operating lease liabilities were the same upon adoption of ASC 842, there was no cumulative effect impact on the Company's total consolidated assets, liabilities and shareholders' equity. The Company elected the package of practical expedients permitted under ASC 842’s transition guidance, which allows the Company to carryforward its historical lease classifications and its assessment as to whether a contract is or contains a lease. The Company also elected to not recognize lease assets and lease liabilities for leases with an initial term of 12 months or less. See Note 18 for additional discussion. In June 2016, the FASB issued ASU 2016‑13, "Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments" ("ASU 2016‑13 ") as amended by ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-10 and ASU 2019-11. 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 as a reduction of carrying amount. ASU 2016‑13 also changes the accounting for purchased credit impaired debt securities and loans. ASU 2016‑13 retains many of the current disclosure requirements in GAAP and expands certain disclosure requirements. As a Securities Exchange Commission "smaller reporting company" filer, ASU 2016‑13 is effective for the Company for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. 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. In addition, the current accounting policy and procedures for other-than-temporary impairment of investment securities available for sale will be replaced with an allowance approach. The Company is reviewing the requirements of ASU 2016‑13 and has begun developing and implementing processes and procedures to ensure it is fully compliant with the amendments at the adoption date. At this time, management anticipates the allowance for loan losses will increase as a result of the implementation of ASU 2016‑13; however, until management's evaluation is complete, the magnitude of the increase will not be known. 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 is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2022. 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 August 2018, the FASB issued ASU 2018‑13, "Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement" ("ASU 2018‑13"). ASU 2018‑13 modifies the disclosure requirements for fair value measurements. The following disclosure requirements were removed from ASC Topic 820 – Fair Value Measurement: (1) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy; (2) the policy for timing of transfers between levels; and (3) the valuation processes for Level 3 fair value measurements. ASU 2018‑13 clarifies that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. In addition, ASU 2018‑13 adds new disclosure requirements for Level 3 measurements. ASU 2018‑13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for any removed or modified disclosures. The adoption of ASU 2018‑13 is not expected to have a material impact on the Company’s future consolidated financial statements. In August 2018, the FASB issued ASU 2018‑15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350‑40), Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract" ("ASU 2018‑15"). The amendments in ASU 2018‑15 broaden the scope of ASC Subtopic 350‑40 to include costs incurred to implement a hosting arrangement that is a service contract. The amendments align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The costs are capitalized or expensed depending on the nature of the costs and the project stage during which they are incurred, consistent with the accounting for internal-use software costs. The amendments in ASU 2018‑15 result in consistent capitalization of implementation costs of a hosting arrangement that is a service contract and implementation costs incurred to develop or obtain internal use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the amendments in ASU 2018‑15. ASU 2018‑15 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The adoption of ASU 2018‑15 is not expected to have a material impact on the Company’s future consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes" ("ASU 2019-12"). ASU 2019-12 simplifies the accounting for income taxes by removing, among other things (1) the exception to the incremental approach for intra-period tax allocation when there is a loss from continuing operations and income or a gain from other items, and (2) the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. ASU 2019-12 also requires that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The adoption of ASU 2019-12 is not expected to have a material impact on the Company's future consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting" ("ASU 2020-04"). ASU 2020-04 applies to contracts, hedging relationships and other transactions that reference LIBOR or other rate references expected to be discontinued because of reference rate reform. ASU 2020-04 permits an entity to make necessary modifications to eligible contracts or transactions without requiring contract remeasurement or reassessment of a previous accounting determination. The Company's current interest rates on its junior subordinated debentures are based upon the three-month LIBOR plus a spread. ASU 2020-04 is effective for all entities as of March 12, 2020 through December 31, 2022. The Company has not adopted ASU 2020-04 as of March 31, 2020. The adoption of ASU 2020-04 is not expected to have a material impact on the Company's future consolidated financial statements. On March 22, 2020, federal banking regulators issued an interagency statement that included guidance on their approach for the accounting of loan modifications in light of the economic impact of the COVID-19 pandemic. The guidance interprets current GAAP related to TDRs and indicates that a lender can conclude that a borrower is not experiencing financial difficulty if short-term modifications are made in response to COVID-19, such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment when both (1) the modifications are insignificant related to the loans, and (2) the borrower is less than 30 days past due on its contractual payments at the time a modification program is implemented. Accordingly, the banking regulatory agencies confirmed in working with the FASB that short-term modifications which meet the preceding criteria and that are made on a good faith basis in response to COVID-19 to borrowers are not TDRs. The Coronavirus Aid, Relief, and Economic Security Act of 2020 ("CARES Act"), signed into law on March 27, 2020, amended GAAP with respect to the modification of loans to borrowers affected by the COVID-19 pandemic. Among other criteria, this guidance provided that short-term loan modifications made on a good faith basis to borrowers who were current as defined under the CARES Act prior to any relief, are not TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant. To qualify as an eligible loan under the CARES Act, a loan modification must be (1) related to COVID-19; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020, and the earlier of (a) 60 days after the date of termination of the national emergency by the President or (b) December 31, 2020. As of March 31, 2020 the Company had approved ten such loan modifications related to the COVID-19 pandemic totaling $36.2 million. Loan modifications in accordance with the CARES Act are still subject to an evaluation in regards to determining whether or not a loan is deemed to be impaired. The spread of COVID-19 and the ensuing pandemic has caused significant economic disruption throughout the global economy, including the states and municipalities which constitute the Company's market area. The potential future financial impact is unknown at this time. Prolonged economic disruption will likely affect the ability of the Company's customers to make timely payments on their loans. It may also have an adverse effect on the collateral values securing customers' loan obligations. This may negatively impact the Company's future operations, results of operations, and financial condition.
Reclassifications	Reclassifications – Certain prior period amounts have been reclassified to conform to the current period presentation; such reclassifications had no effect on previously reported net income or total shareholders’ equity.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
	Mar. 31, 2020
INVESTMENT SECURITIES
Schedule of amortized cost and approximate fair value of investment securities	The amortized cost and approximate fair value of investment securities consisted of the following at the dates indicated (in thousands): Amortized Gross Gross Estimated Fair Cost Unrealized Gains Unrealized Losses Value March 31, 2020 Available for sale: Municipal securities $ 4,740 $ 137 $ — $ 4,877 Agency securities 6,009 17 (10) 6,016 Real estate mortgage investment conduits (1) 42,663 1,128 — 43,791 Residential mortgage-backed securities (1) 58,700 1,415 (30) 60,085 Other mortgage-backed securities (2) 33,417 256 (151) 33,522 Total available for sale $ 145,529 $ 2,953 $ (191) $ 148,291 Held to maturity: Residential mortgage-backed securities (3) $ 28 $ — $ — $ 28 Amortized Gross Gross Estimated Fair Cost Unrealized Gains Unrealized Losses Value March 31, 2019 Available for sale: Municipal securities $ 8,885 $ 30 $ (34) $ 8,881 Agency securities 12,426 22 (107) 12,341 Real estate mortgage investment conduits (1) 40,835 — (673) 40,162 Residential mortgage-backed securities (1) 77,402 7 (1,588) 75,821 Other mortgage-backed securities (2) 42,133 12 (1,124) 41,021 Total available for sale $ 181,681 $ 71 $ (3,526) $ 178,226 Held to maturity: Residential mortgage-backed securities (3) $ 35 $ — $ — $ 35 (1) Comprised of FHLMC, Federal National Mortgage Association (“FNMA”) and Ginnie Mae (“GNMA”) issued securities. (2) Comprised of U.S. Small Business Administration (“SBA”) issued securities and commercial real estate (“CRE”) secured securities issued by FNMA. (3) Comprised of FHLMC and FNMA issued securities.
Schedule of contractual maturities of investment securities	The contractual maturities of investment securities as of March 31, 2020 are as follows (in thousands): Available for Sale Held to Maturity Amortized Estimated Amortized Estimated Cost Fair Value Cost Fair Value Due in one year or less $ 1,001 $ 1,015 $ — $ — Due after one year through five years 4,324 4,320 25 25 Due after five years through ten years 33,195 33,983 3 3 Due after ten years 107,009 108,973 — — Total $ 145,529 $ 148,291 $ 28 $ 28
Schedule of temporarily impaired securities, fair value and unrealized losses	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 Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses March 31, 2020 Available for sale: Agency securities $ 1,998 $ (10) $ — $ — $ 1,998 $ (10) Residential mortgage-backed securities (1) 2,509 (22) 409 (8) 2,918 (30) Other mortgage-backed securities (3) 11,726 (58) 4,911 (93) 16,637 (151) Total available for sale $ 16,233 $ (90) $ 5,320 $ (101) $ 21,553 $ (191) March 31, 2019 Available for sale: Municipal securities $ — $ — $ 6,554 $ (34) $ 6,554 $ (34) Agency securities — — 6,861 (107) 6,861 (107) Real estate mortgage investment conduits (2) — — 40,126 (673) 40,126 (673) Residential mortgage-backed securities (2) — — 74,288 (1,588) 74,288 (1,588) Other mortgage-backed securities (3) — — 40,409 (1,124) 40,409 (1,124) Total available for sale $ — $ — $ 168,238 $ (3,526) $ 168,238 $ (3,526) (1) Comprised of FHLMC and FNMA issued securities. (2) Comprised of FHLMC, FNMA and GNMA issued securities. (3) Comprised of SBA and CRE secured securities issued by FNMA.

LOANS RECEIVABLE (Tables)

LOANS RECEIVABLE (Tables)	12 Months Ended
	Mar. 31, 2020
LOANS RECEIVABLE
Schedule of loans and financing receivable	March 31, March 31, 2020 2019 Commercial and construction Commercial business $ 179,029 $ 162,796 Commercial real estate 507,871 461,432 Land 14,026 17,027 Multi-family 58,374 51,570 Real estate construction 64,843 90,882 Total commercial and construction 824,143 783,707 Consumer Real estate one-to-four family 83,150 84,053 Other installment 4,216 8,356 Total consumer 87,366 92,409 Total loans 911,509 876,116 Less: Allowance for loan losses 12,624 11,457 Loans receivable, net $ 898,885 $ 864,659
Schedule of aggregate loans to officers and directors	Year Ended March 31, 2020 2019 2018 Beginning balance $ 778 $ 981 $ 859 Originations 977 359 526 Principal repayments (1,130) (562) (404) Ending balance $ 625 $ 778 $ 981

ALLOWANCE FOR LOAN LOSSES (Tabl

ALLOWANCE FOR LOAN LOSSES (Tables)	12 Months Ended
	Mar. 31, 2020
ALLOWANCE FOR LOAN LOSSES
Schedule of reconciliation of the allowance for loan losses	Commercial Commercial Multi- Real Estate March 31, 2020 Business Real Estate Land Family Construction Consumer Unallocated Total Beginning balance $ 1,808 $ 5,053 $ 254 $ 728 $ 1,457 $ 1,447 $ 710 $ 11,457 Provision for (recapture of) loan losses 264 1,368 (24) 126 (308) (65) (111) 1,250 Charge-offs (64) — — — — (82) — (146) Recoveries — — — — — 63 — 63 Ending balance $ 2,008 $ 6,421 $ 230 $ 854 $ 1,149 $ 1,363 $ 599 $ 12,624 March 31, 2019 Beginning balance $ 1,668 $ 4,914 $ 220 $ 822 $ 618 $ 1,809 $ 715 $ 10,766 Provision for (recapture of) loan losses 139 (685) 34 (94) 839 (178) (5) 50 Charge-offs — — — — — (291) — (291) Recoveries 1 824 — — — 107 — 932 Ending balance $ 1,808 $ 5,053 $ 254 $ 728 $ 1,457 $ 1,447 $ 710 $ 11,457 March 31, 2018 Beginning balance $ 1,418 $ 5,084 $ 228 $ 297 $ 714 $ 2,099 $ 688 $ 10,528 Provision for (recapture of) loan losses 10 (156) (301) 525 (96) (9) 27 — Charge-offs — (68) — — — (340) — (408) Recoveries 240 54 293 — — 59 — 646 Ending balance $ 1,668 $ 4,914 $ 220 $ 822 $ 618 $ 1,809 $ 715 $ 10,766
Schedule of impaired financing receivables	Allowance for Loan Losses Recorded Investment in Loans Individually Collectively Individually Collectively Evaluated for Evaluated for Evaluated for Evaluated for March 31, 2020 Impairment Impairment Total Impairment Impairment Total Commercial business $ — $ 2,008 $ 2,008 $ 139 $ 178,890 $ 179,029 Commercial real estate — 6,421 6,421 2,378 505,493 507,871 Land — 230 230 714 13,312 14,026 Multi-family — 854 854 1,549 56,825 58,374 Real estate construction — 1,149 1,149 — 64,843 64,843 Consumer 12 1,351 1,363 432 86,934 87,366 Unallocated — 599 599 — — — Total $ 12 $ 12,612 $ 12,624 $ 5,212 $ 906,297 $ 911,509 March 31, 2019 Commercial business $ — $ 1,808 $ 1,808 $ 160 $ 162,636 $ 162,796 Commercial real estate — 5,053 5,053 2,482 458,950 461,432 Land — 254 254 728 16,299 17,027 Multi-family — 728 728 1,598 49,972 51,570 Real estate construction — 1,457 1,457 — 90,882 90,882 Consumer 22 1,425 1,447 697 91,712 92,409 Unallocated — 710 710 — — — Total $ 22 $ 11,435 $ 11,457 $ 5,665 $ 870,451 $ 876,116
Schedule of changes in the allowance for unfunded loan commitments	Year Ended March 31, 2020 2019 2018 Beginning balance $ 469 $ 480 $ 388 Net change in allowance for unfunded loan commitments 5 (11) 92 Ending balance $ 474 $ 469 $ 480
Schedule of analysis of loans by aging category	90 Days Total Past and Due and 30-89 Days Greater Non- Total Loans March 31, 2020 Past Due Past Due Non-accrual accrual Current Receivable Commercial business $ — $ — $ 201 $ 201 $ 178,828 $ 179,029 Commercial real estate — — 1,014 1,014 506,857 507,871 Land — — — — 14,026 14,026 Multi-family — — — — 58,374 58,374 Real estate construction — — — — 64,843 64,843 Consumer 271 — 180 451 86,915 87,366 Total $ 271 $ — $ 1,395 $ 1,666 $ 909,843 $ 911,509 March 31, 2019 Commercial business $ — $ — $ 225 $ 225 $ 162,571 $ 162,796 Commercial real estate — — 1,081 1,081 460,351 461,432 Land — — — — 17,027 17,027 Multi-family — — — — 51,570 51,570 Real estate construction — — — — 90,882 90,882 Consumer 345 3 210 558 91,851 92,409 Total $ 345 $ 3 $ 1,516 $ 1,864 $ 874,252 $ 876,116
Schedule of credit quality indicators	Special Total Loans March 31, 2020 Pass Mention Substandard Doubtful Loss Receivable Commercial business $ 177,399 $ 1,282 $ 348 $ — $ — $ 179,029 Commercial real estate 506,794 63 1,014 — — 507,871 Land 14,026 — — — — 14,026 Multi-family 58,295 45 34 — — 58,374 Real estate construction 64,843 — — — — 64,843 Consumer 87,186 — 180 — — 87,366 Total $ 908,543 $ 1,390 $ 1,576 $ — $ — $ 911,509 March 31, 2019 Commercial business $ 159,997 $ 840 $ 1,959 $ — $ — $ 162,796 Commercial real estate 454,013 4,030 3,389 — — 461,432 Land 16,299 — 728 — — 17,027 Multi-family 51,093 457 20 — — 51,570 Real estate construction 90,882 — — — — 90,882 Consumer 92,199 — 210 — — 92,409 Total $ 864,483 $ 5,327 $ 6,306 $ — $ — $ 876,116
Schedule of total and average recorded investment in impaired loans	Recorded Recorded Investment with Investment Related No Specific with Specific Total Unpaid Specific Valuation Valuation Recorded Principal Valuation March 31, 2020 Allowance Allowance Investment Balance Allowance Commercial business $ 139 $ — $ 139 $ 170 $ — Commercial real estate 2,378 — 2,378 3,405 — Land 714 — 714 748 — Multi-family 1,549 — 1,549 1,662 — Consumer 295 137 432 543 12 Total $ 5,075 $ 137 $ 5,212 $ 6,528 $ 12 March 31, 2019 Commercial business $ 160 $ — $ 160 $ 182 $ — Commercial real estate 2,482 — 2,482 3,424 — Land 728 — 728 766 — Multi-family 1,598 — 1,598 1,709 — Consumer 281 416 697 807 22 Total $ 5,249 $ 416 $ 5,665 $ 6,888 $ 22 Year ended Year ended Year ended March 31, 2020 March 31, 2019 March 31, 2018 Interest Interest Interest Average Recognized Average Recognized Average Recognized Recorded on Impaired Recorded on Impaired Recorded on Impaired Investment Loans Investment Loans Investment Loans Commercial business $ 150 $ 62 $ 334 $ — $ 930 $ 41 Commercial real estate 2,420 40 2,607 64 4,185 101 Land 720 90 742 7 781 — Multi-family 1,573 — 1,620 88 1,668 90 Consumer 494 29 992 45 1,452 62 Total $ 5,357 $ 221 $ 6,295 $ 204 $ 9,016 $ 294
Schedule of TDRs by interest accrual status	March 31, 2020 March 31, 2019 Accrual Nonaccrual Total Accrual Nonaccrual Total Commercial business $ — $ 139 $ 139 $ — $ 160 $ 160 Commercial real estate 1,364 1,014 2,378 1,401 1,081 2,482 Land 714 — 714 728 — 728 Multi-family 1,549 — 1,549 1,598 — 1,598 Consumer 432 — 432 697 — 697 Total $ 4,059 $ 1,153 $ 5,212 $ 4,424 $ 1,241 $ 5,665

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Mar. 31, 2020
PREMISES AND EQUIPMENT
Schedule of premises and equipment	March 31, 2020 2019 Land $ 4,531 $ 4,531 Buildings and improvements 15,356 15,349 Leasehold improvements 1,666 1,666 Furniture and equipment 10,819 10,694 Building under finance lease 2,956 2,956 Construction in progress 3,245 733 Total 38,573 35,929 Less accumulated depreciation and amortization (21,495) (20,471) Premises and equipment, net $ 17,078 $ 15,458

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Mar. 31, 2020
DEPOSITS
Schedule of deposit accounts	Account Type March 31, 2020 March 31, 2019 Non-interest-bearing $ 271,031 $ 284,854 Interest-bearing checking 187,798 183,388 Money market 169,798 233,317 Savings accounts 226,880 137,503 Certificates of deposit 134,941 86,006 Total $ 990,448 $ 925,068
Schedule of maturities of certificates of deposit for future years	Year Ending March 31: 2021 $ 74,078 2022 40,579 2023 14,303 2024 2,360 2025 2,623 Thereafter 998 Total $ 134,941
Schedule of interest expense by deposit type	Year Ended March 31, 2020 2019 2018 Interest-bearing checking $ 100 $ 101 $ 100 Money market 229 302 335 Savings accounts 1,054 145 133 Certificates of deposit 1,507 448 640 Total $ 2,890 $ 996 $ 1,208

FEDERAL HOME LOAN BANK ADVANC_2

FEDERAL HOME LOAN BANK ADVANCES (Tables)	12 Months Ended
	Mar. 31, 2020
FEDERAL HOME LOAN BANK ADVANCES
Schedule of FHLB advances	March 31, 2020 March 31, 2019 FHLB advances $ — $ 56,586 Weighted average interest rate on FHLB advances (1) 2.54 % 2.58 % (1) Computed based on the borrowing activity for the years ending March 31, 2020 and 2019, respectively.

JUNIOR SUBORDINATED DEBENTURES

JUNIOR SUBORDINATED DEBENTURES (Tables)	12 Months Ended
	Mar. 31, 2020
JUNIOR SUBORDINATED DEBENTURES
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 % 2.10 % 3/2036 Riverview Bancorp Statutory Trust II 06/2007 15,464 Variable (2) 7.03 % 2.09 % 9/2037 Merchants Bancorp Statutory Trust I (4) 06/2003 5,155 Variable (3) 4.16 % 4.33 % 6/2033 27,836 Fair value adjustment (4) (1,174) Total Debentures $ 26,662 (1) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.36%. (2) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 1.35%. (3) The trust preferred securities reprice quarterly based on the three-month LIBOR plus 3.10%. (4) Amount, net of accretion, attributable to a prior year's business combination.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Mar. 31, 2020
INCOME TAXES
Schedule of provision for income taxes	Year Ended March 31, 2020 2019 2018 Current $ 5,404 $ 5,157 $ 4,087 Deferred (574) (11) 3,668 Total $ 4,830 $ 5,146 $ 7,755
Schedule of deferred tax assets and deferred tax liabilities	March 31, 2020 March 31, 2019 Deferred tax assets: Deferred compensation $ 63 $ 45 Allowance for loan losses 3,143 2,862 Accrued expenses 137 131 Accumulated depreciation and amortization 935 797 Deferred gain on sale 129 167 Purchase accounting 123 141 Net unrealized loss on investment securities available for sale — 829 Operating lease liabilities 971 — Other 352 242 Total deferred tax assets 5,853 5,214 Deferred tax liabilities: FHLB stock dividend (38) (97) Prepaid expenses (84) (148) Operating lease right-of-use assets (947) — Net unrealized gain on investment securities available for sale (663) — Loan fees/costs (844) (774) Total deferred tax liabilities (2,576) (1,019) Deferred tax assets, net $ 3,277 $ 4,195
Schedule of reconciliation of effective income tax rate with the federal statutory tax rate	Year Ended March 31, 2020 2019 2018 Statutory federal income tax rate 21.0 % 21.0 % 30.8 % State and local income tax rate 3.0 3.0 2.5 Revaluation of net deferred tax assets due to Tax Act — — 11.4 ESOP market value adjustment (0.1) (0.1) — BOLI (1.0) (0.8) (1.5) Other, net 0.6 (0.1) (0.1) Effective federal income tax rate 23.5 % 23.0 % 43.1 %

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Mar. 31, 2020
EMPLOYEE BENEFIT PLANS
Schedule of activity related to options under all plans	Year Ended March 31, 2020 2019 2018 Weighted Weighted Weighted Average Average Average Number of Exercise Number of Exercise Number of Exercise Shares Price Shares Price Shares Price Balance, beginning of year 101,332 $ 3.26 141,365 $ 3.77 220,654 $ 4.74 Options exercised (58,000) 3.69 (37,533) 4.84 (59,289) 4.13 Options expired — — (2,500) 8.12 (20,000) 13.42 Balance, end of year 43,332 $ 2.69 101,332 $ 3.26 141,365 $ 3.77
Schedule of additional information regarding stock options outstanding	Options Outstanding Options Exercisable Weighted Avg Weighted Weighted Remaining Average Average Range of Contractual Exercise Exercise Exercise Price Life (years) Number Price Number Price $1.00 - $3.00 2.80 43,332 $ 2.69 43,332 $ 2.69
Schedule of information of stock options outstanding	March 31, 2020 March 31, 2019 Stock options fully vested and expected to vest: Number 43,332 101,332 Weighted average exercise price $ 2.69 $ 3.26 Aggregate intrinsic value (1) $ 101,000 $ 410,000 Weighted average contractual term of options (years) 2.80 2.20 Stock options fully vested and currently exercisable: Number 43,332 101,332 Weighted average exercise price $ 2.69 $ 3.26 Aggregate intrinsic value (1) $ 101,000 $ 410,000 Weighted average contractual term of options (years) 2.80 2.20 (1) The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price) that would have been received by the option holders had all option holders exercised. This amount changes based on changes in the market value of the Company's stock.
Schedule of unvested restricted stock activity	The following table presents the activity related to restricted stock for the year ended March 31, 2020: Time-Based Performance-Based Total Weighted Weighted Weighted Number of Average Number of Average Number of Average Unvested Market Unvested Market Unvested Market Shares Price Shares Price Shares Price Balance, beginning of period — $ — — $ — — $ — Granted 49,298 8.35 33,375 8.35 82,673 8.35 Forfeited — — — — — — Vested — — — — — — Cancelled — — — — — — Balance, end of period 49,298 $ 8.35 33,375 $ 8.35 82,673 $ 8.35

SHAREHOLDERS' EQUITY AND REGU_2

SHAREHOLDERS' EQUITY AND REGULATORY CAPITAL REQUIREMENTS (Tables)	12 Months Ended
	Mar. 31, 2020
Shareholders Equity And Regulatory Capital Requirements [Abstract]
Schedule of actual and required minimum capital amounts and ratios	"Well Capitalized" For Capital Under Prompt Actual Adequacy Purposes Corrective Action Amount Ratio Amount Ratio Amount Ratio March 31, 2020 Total Capital: (To Risk-Weighted Assets) $ 145,949 17.01 % $ 68,630 8.0 % $ 85,787 10.0 % Tier 1 Capital: (To Risk-Weighted Assets) 135,196 15.76 51,472 6.0 68,630 8.0 Common equity tier 1 Capital: (To Risk-Weighted Assets) 135,196 15.76 38,604 4.5 55,762 6.5 Tier 1 Capital (Leverage): (To Average Tangible Assets) 135,196 11.79 45,851 4.0 57,313 5.0 "Well Capitalized" For Capital Under Prompt Actual Adequacy Purposes Corrective Action March 31, 2019 Amount Ratio Amount Ratio Amount Ratio Total Capital: (To Risk-Weighted Assets) $ 140,062 16.88 % $ 66,379 8.0 % $ 82,974 10.0 % Tier 1 Capital: (To Risk-Weighted Assets) 129,671 15.63 49,784 6.0 66,379 8.0 Common equity tier 1 Capital: (To Risk-Weighted Assets) 129,671 15.63 37,338 4.5 53,933 6.5 Tier 1 Capital (Leverage): (To Average Tangible Assets) 129,671 11.56 44,874 4.0 56,092 5.0

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Mar. 31, 2020
EARNINGS PER SHARE
Schedule of basic and diluted earnings per share	Year Ended March 31, (Dollars and share data in thousands, except per share data) 2020 2019 2018 Basic EPS computation: Numerator-net income $ 15,748 $ 17,266 $ 10,242 Denominator-weighted average common shares outstanding 22,643 22,588 22,531 Basic EPS $ 0.70 $ 0.76 $ 0.45 Diluted EPS computation: Numerator-net income $ 15,748 $ 17,266 $ 10,242 Denominator-weighted average common shares outstanding 22,643 22,588 22,531 Effect of dilutive stock options and restricted stock 55 72 92 Weighted average common shares and common stock equivalents 22,698 22,660 22,623 Diluted EPS $ 0.69 $ 0.76 $ 0.45

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Mar. 31, 2020
FAIR VALUE MEASUREMENTS
Schedule of assets that are measured at estimated fair value on a recurring basis	Estimated Fair Value Measurements Using Total Estimated March 31, 2020 Fair Value Level 1 Level 2 Level 3 Investment securities available for sale: Municipal securities $ 4,877 $ — $ 4,877 $ — Agency securities 6,016 — 6,016 — Real estate mortgage investment conduits 43,791 — 43,791 — Residential mortgage-backed securities 60,085 — 60,085 — Other mortgage-backed securities 33,522 — 33,522 — Total assets measured at fair value on a recurring basis $ 148,291 $ — $ 148,291 $ — Estimated Fair Value Measurements Using Total Estimated March 31, 2019 Fair Value Level 1 Level 2 Level 3 Investment securities available for sale: Municipal securities $ 8,881 $ — $ 8,881 $ — Agency securities 12,341 — 12,341 — Real estate mortgage investment conduits 40,162 — 40,162 — Residential mortgage-backed securities 75,821 — 75,821 — Other mortgage-backed securities 41,021 — 41,021 — Total assets measured at fair value on a recurring basis $ 178,226 $ — $ 178,226 $ —
Schedule of assets that are measured at estimated fair value on a nonrecurring basis	Estimated fair value measurements using Total estimated fair value Level 1 Level 2 Level 3 March 31, 2020 Impaired loans $ 125 $ — $ — $ 125 March 31, 2019 Impaired loans $ 394 $ — $ — $ 394
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 Impaired loans Appraised value Discounted cash flows Adjustment for market conditions Discount rate N/A (1) 5.25% - 8.00% (1) There were no adjustments to appraised values of impaired loans as of March 31, 2020 and 2019.
Schedule of carrying amount and estimated fair value of financial instruments	Carrying Estimated March 31, 2020 Amount Level 1 Level 2 Level 3 Fair Value Assets: Cash and cash equivalents $ 41,968 $ 41,968 $ — $ — $ 41,968 Certificates of deposit held for investment 249 — 258 — 258 Loans held for sale 275 — 275 — 275 Investment securities available for sale 148,291 — 148,291 — 148,291 Investment securities held to maturity 28 — 28 — 28 Loans receivable, net 898,885 — — 889,398 889,398 FHLB stock 1,420 — 1,420 — 1,420 Liabilities: Certificates of deposit 134,941 — 136,997 — 136,997 Junior subordinated debentures 26,662 — — 12,127 12,127 Carrying Estimated March 31, 2019 Amount Level 1 Level 2 Level 3 Fair Value Assets: Cash and cash equivalents $ 22,950 $ 22,950 $ — $ — $ 22,950 Certificates of deposit held for investment 747 — 746 — 746 Loans held for sale 909 — 909 — 909 Investment securities available for sale 178,226 — 178,226 — 178,226 Investment securities held to maturity 35 — 35 — 35 Loans receivable, net 864,659 — — 862,429 862,429 FHLB stock 3,644 — 3,644 — 3,644 Liabilities: Certificates of deposit 86,006 — 84,455 — 84,455 FHLB advances 56,586 — 56,586 — 56,586 Junior subordinated debentures 26,575 — — 15,468 15,468

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	12 Months Ended
	Mar. 31, 2020
REVENUE FROM CONTRACTS WITH CUSTOMERS
Schedule of non-interest income disaggregated by type of service	Year Ended March 31, 2020 2019 2018 Asset management fees $ 4,408 $ 3,791 $ 3,448 Debit card and ATM fees 3,102 3,104 2,961 Deposit related fees 2,212 1,721 1,628 Loan related fees 605 507 317 BOLI (1) 864 734 819 Net gains on sales of loans held for sale (1) 252 317 641 FHLMC loan servicing fees (1) 147 141 122 Other, net 770 792 714 Total non-interest income $ 12,360 $ 11,107 $ 10,650 (1) Not within the scope of ASC 606

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Mar. 31, 2020
COMMITMENTS AND CONTINGENCIES
Schedule of significant off-balance sheet commitments	Contract or Notional Amount March 31, 2020 March 31, 2019 Commitments to originate loans: Adjustable-rate $ 18,712 $ 30,579 Fixed-rate 17,085 10,158 Standby letters of credit 2,045 2,410 Undisbursed loan funds and unused lines of credit 122,840 139,842 Total $ 160,682 $ 182,989

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Mar. 31, 2020
LEASES
Schedule of lease right-of-use assets and lease liabilities	Leases Classification in the consolidated balance sheets Finance lease right-of-use asset $ 1,508 Premises and equipment, net Finance lease liability $ 2,369 Finance lease liability Finance lease remaining lease term 19.68 years Finance lease discount rate 7.16 % Operating lease right-of-use assets $ 3,949 Prepaid expenses and other assets Operating lease liabilities $ 4,046 Accrued expenses and other liabilities Operating lease weighted-average remaining lease term 3.92 years Operating lease weighted-average discount rate 2.77 %
Schedule of lease costs for finance and operating leases	Lease Costs Finance lease amortization of right-of-use asset $ 77 Finance lease interest on lease liability 171 Operating lease costs 1,508 Variable lease costs 209 Total lease cost (1) $ 1,965
Schedule of reconciliation of the undiscounted cash flows related to the Company's lease liabilities	Years Ending March 31: Operating Finance Leases Lease 2021 $ 1,011 $ 208 2022 747 212 2023 573 215 2024 583 219 2025 577 222 Thereafter 929 3,400 Total minimum lease payments 4,420 4,476 Less: amount of lease payment representing interest (374) (2,107) Lease liabilities $ 4,046 $ 2,369

RIVERVIEW BANCORP, INC. (PARE_2

RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) (Tables)	12 Months Ended
	Mar. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Schedule of condensed balance sheet	BALANCE SHEETS AS OF MARCH 31, 2020 AND 2019 (In thousands) 2020 2019 ASSETS Cash and cash equivalents $ 10,269 $ 4,178 Investment in the Bank 165,130 155,041 Other assets 1,440 1,445 TOTAL ASSETS $ 176,839 $ 160,664 LIABILITIES AND SHAREHOLDERS' EQUITY Accrued expenses and other liabilities $ 199 $ 63 Dividend payable 1,135 904 Borrowings 26,662 26,575 Shareholders' equity 148,843 133,122 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 176,839 $ 160,664
Schedule of condensed income statement	STATEMENTS OF INCOME FOR THE YEARS ENDED MARCH 31, 2020, 2019 AND 2018 (In thousands) 2020 2019 2018 INCOME: Interest on investment securities and other short-term investments $ 33 $ 35 $ 26 Interest on loan receivable from the Bank — — 6 Total income 33 35 32 EXPENSE: Management service fees paid to the Bank 143 143 143 Other expenses 1,233 1,298 1,020 Total expense 1,376 1,441 1,163 LOSS BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF THE BANK (1,343) (1,406) (1,131) BENEFIT FOR INCOME TAXES (282) (294) (513) LOSS OF PARENT COMPANY (1,061) (1,112) (618) EQUITY IN UNDISTRIBUTED INCOME OF THE BANK 16,809 18,378 10,860 NET INCOME $ 15,748 $ 17,266 $ 10,242
Schedule of condensed cash flow statement	STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED MARCH 31, 2020, 2019 AND 2018 (In thousands) 2020 2019 2018 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 15,748 $ 17,266 $ 10,242 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in undistributed income of the Bank (16,809) (18,378) (10,860) Amortization 87 91 94 Provision for deferred income taxes — 10 174 Earned ESOP shares — — 148 Stock based compensation 346 44 88 Changes in assets and liabilities: Other assets (278) (447) 1,770 Accrued expenses and other liabilities 364 97 (220) Net cash provided by (used in) operating activities (542) (1,317) 1,436 CASH FLOWS FROM INVESTING ACTIVITIES: Dividend from the Bank 11,500 2,000 1,750 Net cash provided by investing activities 11,500 2,000 1,750 CASH FLOWS FROM FINANCING ACTIVITIES: Dividends paid (4,075) (3,163) (2,140) Proceeds from exercise of stock options 227 179 245 Repurchase of common stock (1,019) — — Net cash used in financing activities (4,867) (2,984) (1,895) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 6,091 (2,301) 1,291 CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 4,178 6,479 5,188 CASH AND CASH EQUIVALENTS, END OF YEAR $ 10,269 $ 4,178 $ 6,479
Schedule of quarterly financial information	SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED): (Dollars in thousands, except per share data) Three Months Ended Fiscal 2020: March 31 December 31 September 30 June 30 Interest and dividend income $ 12,291 $ 12,766 $ 12,882 $ 12,556 Interest expense 1,241 1,274 1,163 1,086 Net interest income 11,050 11,492 11,719 11,470 Provision for loan losses 1,250 — — — Non-interest income, net 2,892 3,163 3,169 3,136 Non-interest expense 8,818 9,248 9,003 9,194 Income before income taxes 3,874 5,407 5,885 5,412 Provision for income taxes 980 1,279 1,351 1,220 Net income $ 2,894 $ 4,128 $ 4,534 $ 4,192 Basic earnings per common share (1) $ 0.13 $ 0.18 $ 0.20 $ 0.19 Diluted earnings per common share (1) $ 0.13 $ 0.18 $ 0.20 $ 0.18 Fiscal 2019: Interest and dividend income $ 12,802 $ 12,390 $ 12,389 $ 12,288 Interest expense 930 656 611 618 Net interest income 11,872 11,734 11,778 11,670 Provision for loan losses — - 250 (200) Non-interest income, net 2,670 2,728 2,840 2,869 Non-interest expense 8,962 8,803 8,915 9,019 Income before income taxes 5,580 5,659 5,453 5,720 Provision for income taxes 1,373 1,271 1,224 1,278 Net income $ 4,207 $ 4,388 $ 4,229 $ 4,442 Basic earnings per common share (1) $ 0.19 $ 0.19 $ 0.19 $ 0.20 Diluted earnings per common share (1) $ 0.19 $ 0.19 $ 0.19 $ 0.20 Quarterly earnings per common share may vary from annual earnings per common share due to rounding.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended		24 Months Ended
	Mar. 31, 2020segmentitem	Mar. 31, 2019USD ($)	Mar. 31, 2020item	Mar. 31, 2021USD ($)	Sep. 30, 2018USD ($)
Accounting Policies [Abstract]
Number of branches in rural and suburban communities | item	18		18
Bank sold deposits					$ 3,200,000
Gain on sale of deposits		$ 70,000
Gain on sale of Longview branch land and building		$ 355,000
Number of operating segments | segment	2
Minimum percentage of monthly payments charged off for consumer installment loan			75.00%
Mortgage loans secured by residential real estate				$ 0

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2019	Mar. 31, 2020	Nov. 30, 2019	Apr. 01, 2019	Mar. 31, 2019
Summary Of Significant Accounting Policies [Line Items]
Assets Held-in-trust		$ 1,200,000,000			$ 646,000,000
Operating lease liabilities		4,046,000
Loans and Leases Receivable, Gross, Total		911,509,000			876,116,000
Loans Issued Under Coronavirus Aid, Relief, and Economic Security Act [Member]
Summary Of Significant Accounting Policies [Line Items]
Loans and Leases Receivable, Gross, Total		$ 36,200,000
ASU 2016-02 | Restatement
Summary Of Significant Accounting Policies [Line Items]
Operating lease liabilities				$ 5,600,000
Core Deposit Intangibles | Merchants Bancorp
Summary Of Significant Accounting Policies [Line Items]
Estimated amortized period of Core Deposit Intangibles		10 years
Core Deposit Intangibles, gross		$ 1,360,000			1,360,000
Accumulated amortization		604,000			$ 443,000
Estimated amortization expense of Core Deposit Intangibles for fiscal years ended March 31, 2021		140,000
Estimated amortization expense of Core Deposit Intangibles for fiscal years ended March 31, 2022		125,000
Estimated amortization expense of Core Deposit Intangibles for fiscal years ended March 31, 2023		116,000
Estimated amortization expense of Core Deposit Intangibles for fiscal years ended March 31, 2024		108,000
Estimated amortization expense of Core Deposit Intangibles for fiscal years ended March 31, 2025		100,000
Estimated amortization expense of Core Deposit Intangibles, thereafter		$ 170,000
Building and improvements
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives		up to 45 years
Furniture and equipment
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives		3 to 20 years
Leasehold improvements
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives		15 to 25 years, or estimated lease term if shorter
Riverview Community Bank
Summary Of Significant Accounting Policies [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent		98.00%	100.00%
Trust Company
Summary Of Significant Accounting Policies [Line Items]
Number of shares issued	1,500
Number of stock options exercised	1,500
Non controlling Interest		$ 107,000
Net income attributable to the noncontrolling interest		$ 5,000

RESTRICTED ASSETS (Details)

RESTRICTED ASSETS (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Other Restricted Assets [Abstract]
Minimum reserve balance	$ 0	$ 1,800,000

INVESTMENT SECURITIES - Availab

INVESTMENT SECURITIES - Available for sale (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 145,529	$ 181,681
Gross Unrealized Gains	2,953	71
Gross Unrealized Losses	(191)	(3,526)
Estimated Fair Value	148,291	178,226
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,740	8,885
Gross Unrealized Gains	137	30
Gross Unrealized Losses	0	(34)
Estimated Fair Value	4,877	8,881
Agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,009	12,426
Gross Unrealized Gains	17	22
Gross Unrealized Losses	(10)	(107)
Estimated Fair Value	6,016	12,341
Real estate mortgage investment conduits
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	42,663	40,835
Gross Unrealized Gains	1,128	0
Gross Unrealized Losses	0	(673)
Estimated Fair Value	43,791	40,162
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	58,700	77,402
Gross Unrealized Gains	1,415	7
Gross Unrealized Losses	(30)	(1,588)
Estimated Fair Value	60,085	75,821
Other mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	33,417	42,133
Gross Unrealized Gains	256	12
Gross Unrealized Losses	(151)	(1,124)
Estimated Fair Value	$ 33,522	$ 41,021

INVESTMENT SECURITIES - Held to

INVESTMENT SECURITIES - Held to maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 28	$ 35
Residential mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	28	35
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	$ 28	$ 35

INVESTMENT SECURITIES - Contrac

INVESTMENT SECURITIES - Contractual maturities, Available for sale (Details) $ in Thousands	Mar. 31, 2020USD ($)
Available for Sale, Amortized Cost
Due in one year or less	$ 1,001
Due after one year through five years	4,324
Due after five years through ten years	33,195
Due after ten years	107,009
Total, Amortized Cost	145,529
Available for Sale, Estimated Fair Value
Due in one year or less	1,015
Due after one year through five years	4,320
Due after five years through ten years	33,983
Due after ten years	108,973
Total, Estimated Fair Value	$ 148,291

INVESTMENT SECURITIES - Contr_2

INVESTMENT SECURITIES - Contractual maturities, Held t o maturity (Details) $ in Thousands	Mar. 31, 2020USD ($)
Held to Maturity, Amortized Cost
Due in one year or less	$ 0
Due after one year through five years	25
Due after five years through ten years	3
Due after ten years	0
Total, Amortized Cost	28
Held to Maturity, Estimated Fair Value
Due in one year or less	0
Due after one year through five years	25
Due after five years through ten years	3
Due after ten years	0
Total, Estimated Fair Value	$ 28

INVESTMENT SECURITIES - Fair va

INVESTMENT SECURITIES - Fair value of impaired investment securities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Estimated Fair Value	$ 16,233	$ 0
Less than 12 months, Unrealized Losses	(90)	0
12 months or longer, Estimated Fair Value	5,320	168,238
12 months or longer, Unrealized Losses	(101)	(3,526)
Total, Estimated Fair Value	21,553	168,238
Total, Unrealized Losses	(191)	(3,526)
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Estimated Fair Value		0
Less than 12 months, Unrealized Losses		0
12 months or longer, Estimated Fair Value		6,554
12 months or longer, Unrealized Losses		(34)
Total, Estimated Fair Value		6,554
Total, Unrealized Losses		(34)
Agency securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Estimated Fair Value	1,998	0
Less than 12 months, Unrealized Losses	(10)	0
12 months or longer, Estimated Fair Value	0	6,861
12 months or longer, Unrealized Losses	0	(107)
Total, Estimated Fair Value	1,998	6,861
Total, Unrealized Losses	(10)	(107)
Real estate mortgage investment conduits
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Estimated Fair Value		0
Less than 12 months, Unrealized Losses		0
12 months or longer, Estimated Fair Value		40,126
12 months or longer, Unrealized Losses		(673)
Total, Estimated Fair Value		40,126
Total, Unrealized Losses		(673)
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Estimated Fair Value	2,509	0
Less than 12 months, Unrealized Losses	(22)	0
12 months or longer, Estimated Fair Value	409	74,288
12 months or longer, Unrealized Losses	(8)	(1,588)
Total, Estimated Fair Value	2,918	74,288
Total, Unrealized Losses	(30)	(1,588)
Other mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Estimated Fair Value	11,726	0
Less than 12 months, Unrealized Losses	(58)	0
12 months or longer, Estimated Fair Value	4,911	40,409
12 months or longer, Unrealized Losses	(93)	(1,124)
Total, Estimated Fair Value	16,637	40,409
Total, Unrealized Losses	$ (151)	$ (1,124)

INVESTMENT SECURITIES - Additio

INVESTMENT SECURITIES - Additional information (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Proceeds from the sale of investment securities	$ 17,800,000
Gross realized gains on sales of investment securities	30,000
Investment securities available for sale
Debt Securities, Available-for-sale [Line Items]
Pledged as collateral at amortized cost	6,600,000	$ 5,800,000
Pledged as collateral at fair value	$ 6,800,000	$ 5,700,000

LOANS RECEIVABLE - Loans receiv

LOANS RECEIVABLE - Loans receivable, excluding loans held for sale (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 911,509	$ 876,116
Less: Allowance for loan losses	12,624	11,457	$ 10,766	$ 10,528
Loans receivable, net	898,885	864,659
Commercial Real Estate Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	824,143	783,707
Commercial Real Estate Portfolio Segment | Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	179,029	162,796
Less: Allowance for loan losses	2,008	1,808	1,668	1,418
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	507,871	461,432
Less: Allowance for loan losses	6,421	5,053	4,914	5,084
Commercial Real Estate Portfolio Segment | Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	14,026	17,027
Less: Allowance for loan losses	230	254	220	228
Commercial Real Estate Portfolio Segment | Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	58,374	51,570
Less: Allowance for loan losses	854	728	822	297
Commercial Real Estate Portfolio Segment | Real Estate Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	64,843	90,882
Less: Allowance for loan losses	1,149	1,457	618	714
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	87,366	92,409
Less: Allowance for loan losses	1,363	1,447	$ 1,809	$ 2,099
Consumer | Real estate one-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	83,150	84,053
Consumer | Other installment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 4,216	$ 8,356

LOANS RECEIVABLE - Aggregate lo

LOANS RECEIVABLE - Aggregate loans to officers and directors (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Loans to Officers and Directors
Beginning balance	$ 778	$ 981	$ 859
Originations	977	359	526
Principal repayments	(1,130)	(562)	(404)
Ending balance	$ 625	$ 778	$ 981

LOANS RECEIVABLE - Additional i

LOANS RECEIVABLE - Additional information (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net deferred loan fees	$ 4.1	$ 4
Discount on Loans receivable	1.1	1.5
Premiums On Loans Receivable	$ 1.5	$ 1.8
Percentage of loans and extensions of credit outstanding	15.00%
Loans pledged as collateral	$ 525.6
Raw Land Loans [Member] | Commercial Real Estate Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum loan-to-value ratio	65.00%
Commercial Real Estate | Commercial Real Estate Portfolio Segment | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum loan-to-value ratio	65.00%
Commercial Real Estate | Commercial Real Estate Portfolio Segment | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum loan-to-value ratio	80.00%
Real estate one-to-four family | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum loan-to-value ratio	80.00%
Real estate one-to-four family | Consumer | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Terms of maturity	15 years
Real estate one-to-four family | Consumer | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Terms of maturity	30 years
Land and Land Improvements [Member] | Commercial Real Estate Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum loan-to-value ratio	75.00%

ALLOWANCE FOR LOAN LOSSES - Rec

ALLOWANCE FOR LOAN LOSSES - Reconciliation of the allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Reconciliation of the allowance for loan losses
Beginning balance				$ 11,457				$ 10,766	$ 11,457	$ 10,766	$ 10,528
Provision for (recapture of) loan losses	$ 1,250	$ 0	$ 0	0	$ 0	$ 0	$ 250	(200)	1,250	50	0
Charge-offs									(146)	(291)	(408)
Recoveries									63	932	646
Ending balance	12,624				11,457				12,624	11,457	10,766
Commercial Real Estate Portfolio Segment | Commercial Business
Reconciliation of the allowance for loan losses
Beginning balance				1,808				1,668	1,808	1,668	1,418
Provision for (recapture of) loan losses									264	139	10
Charge-offs									(64)	0	0
Recoveries									0	1	240
Ending balance	2,008				1,808				2,008	1,808	1,668
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Reconciliation of the allowance for loan losses
Beginning balance				5,053				4,914	5,053	4,914	5,084
Provision for (recapture of) loan losses									1,368	(685)	(156)
Charge-offs									0	0	(68)
Recoveries									0	824	54
Ending balance	6,421				5,053				6,421	5,053	4,914
Commercial Real Estate Portfolio Segment | Land
Reconciliation of the allowance for loan losses
Beginning balance				254				220	254	220	228
Provision for (recapture of) loan losses									(24)	34	(301)
Charge-offs									0	0	0
Recoveries									0	0	293
Ending balance	230				254				230	254	220
Commercial Real Estate Portfolio Segment | Multi-Family
Reconciliation of the allowance for loan losses
Beginning balance				728				822	728	822	297
Provision for (recapture of) loan losses									126	(94)	525
Charge-offs									0	0	0
Recoveries									0	0	0
Ending balance	854				728				854	728	822
Commercial Real Estate Portfolio Segment | Real Estate Construction
Reconciliation of the allowance for loan losses
Beginning balance				1,457				618	1,457	618	714
Provision for (recapture of) loan losses									(308)	839	(96)
Charge-offs									0	0	0
Recoveries									0	0	0
Ending balance	1,149				1,457				1,149	1,457	618
Consumer
Reconciliation of the allowance for loan losses
Beginning balance				1,447				1,809	1,447	1,809	2,099
Provision for (recapture of) loan losses									(65)	(178)	(9)
Charge-offs									(82)	(291)	(340)
Recoveries									63	107	59
Ending balance	1,363				1,447				1,363	1,447	1,809
Unallocated
Reconciliation of the allowance for loan losses
Beginning balance				$ 710				$ 715	710	715	688
Provision for (recapture of) loan losses									(111)	(5)	27
Charge-offs									0	0	0
Recoveries									0	0	0
Ending balance	$ 599				$ 710				$ 599	$ 710	$ 715

ALLOWANCE FOR LOAN LOSSES - Imp

ALLOWANCE FOR LOAN LOSSES - Impaired Financing Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Allowance for loan losses
Individually Evaluated for Impairment	$ 12	$ 22
Collectively Evaluated for Impairment	12,612	11,435
Total	12,624	11,457
Recorded investment in loans
Individually Evaluated for Impairment	5,212	5,665
Collectively Evaluated for Impairment	906,297	870,451
Total	911,509	876,116
Commercial Real Estate Portfolio Segment | Commercial Business
Allowance for loan losses
Individually Evaluated for Impairment	0	0
Collectively Evaluated for Impairment	2,008	1,808
Total	2,008	1,808
Recorded investment in loans
Individually Evaluated for Impairment	139	160
Collectively Evaluated for Impairment	178,890	162,636
Total	179,029	162,796
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Allowance for loan losses
Individually Evaluated for Impairment	0	0
Collectively Evaluated for Impairment	6,421	5,053
Total	6,421	5,053
Recorded investment in loans
Individually Evaluated for Impairment	2,378	2,482
Collectively Evaluated for Impairment	505,493	458,950
Total	507,871	461,432
Commercial Real Estate Portfolio Segment | Land
Allowance for loan losses
Individually Evaluated for Impairment	0	0
Collectively Evaluated for Impairment	230	254
Total	230	254
Recorded investment in loans
Individually Evaluated for Impairment	714	728
Collectively Evaluated for Impairment	13,312	16,299
Total	14,026	17,027
Commercial Real Estate Portfolio Segment | Multi-Family
Allowance for loan losses
Individually Evaluated for Impairment	0	0
Collectively Evaluated for Impairment	854	728
Total	854	728
Recorded investment in loans
Individually Evaluated for Impairment	1,549	1,598
Collectively Evaluated for Impairment	56,825	49,972
Total	58,374	51,570
Commercial Real Estate Portfolio Segment | Real Estate Construction
Allowance for loan losses
Individually Evaluated for Impairment	0	0
Collectively Evaluated for Impairment	1,149	1,457
Total	1,149	1,457
Recorded investment in loans
Individually Evaluated for Impairment	0	0
Collectively Evaluated for Impairment	64,843	90,882
Total	64,843	90,882
Consumer
Allowance for loan losses
Individually Evaluated for Impairment	12	22
Collectively Evaluated for Impairment	1,351	1,425
Total	1,363	1,447
Recorded investment in loans
Individually Evaluated for Impairment	432	697
Collectively Evaluated for Impairment	86,934	91,712
Total	87,366	92,409
Unallocated
Allowance for loan losses
Individually Evaluated for Impairment	0	0
Collectively Evaluated for Impairment	599	710
Total	599	710
Recorded investment in loans
Individually Evaluated for Impairment	0	0
Collectively Evaluated for Impairment	0	0
Total	$ 0	$ 0

ALLOWANCE FOR LOAN LOSSES - Ana

ALLOWANCE FOR LOAN LOSSES - Analysis of loans by aging category (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Allowance for unfunded loan commitments
Beginning balance	$ 469	$ 480	$ 388
Net change in allowance for unfunded loan commitments	5	(11)	92
Ending Balance	$ 474	$ 469	$ 480

ALLOWANCE FOR LOAN LOSSES - Fin

ALLOWANCE FOR LOAN LOSSES - Financing Receivables, Aging of Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	$ 1,395	$ 1,516
Total Past Due and Non-accrual	1,666	1,864
Current	909,843	874,252
Total Loans Receivable	911,509	876,116
30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	271	345
90 Days and Greater Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	0	3
Commercial Real Estate Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	824,143	783,707
Commercial Real Estate Portfolio Segment | Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	201	225
Total Past Due and Non-accrual	201	225
Current	178,828	162,571
Total Loans Receivable	179,029	162,796
Commercial Real Estate Portfolio Segment | Commercial Business | 30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	0	0
Commercial Real Estate Portfolio Segment | Commercial Business | 90 Days and Greater Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	0	0
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	1,014	1,081
Total Past Due and Non-accrual	1,014	1,081
Current	506,857	460,351
Total Loans Receivable	507,871	461,432
Commercial Real Estate Portfolio Segment | Commercial Real Estate | 30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	0	0
Commercial Real Estate Portfolio Segment | Commercial Real Estate | 90 Days and Greater Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	0	0
Commercial Real Estate Portfolio Segment | Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	0	0
Total Past Due and Non-accrual	0	0
Current	14,026	17,027
Total Loans Receivable	14,026	17,027
Commercial Real Estate Portfolio Segment | Land | 30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	0	0
Commercial Real Estate Portfolio Segment | Land | 90 Days and Greater Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	0	0
Commercial Real Estate Portfolio Segment | Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	0	0
Total Past Due and Non-accrual	0	0
Current	58,374	51,570
Total Loans Receivable	58,374	51,570
Commercial Real Estate Portfolio Segment | Multi-Family | 30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	0	0
Commercial Real Estate Portfolio Segment | Multi-Family | 90 Days and Greater Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	0	0
Commercial Real Estate Portfolio Segment | Real Estate Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	0	0
Total Past Due and Non-accrual	0	0
Current	64,843	90,882
Total Loans Receivable	64,843	90,882
Commercial Real Estate Portfolio Segment | Real Estate Construction | 30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	0	0
Commercial Real Estate Portfolio Segment | Real Estate Construction | 90 Days and Greater Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	0	0
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	180	210
Total Past Due and Non-accrual	451	558
Current	86,915	91,851
Total Loans Receivable	87,366	92,409
Consumer | 30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	271	345
Consumer | 90 Days and Greater Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past Due	$ 0	$ 3

ALLOWANCE FOR LOAN LOSSES - Cre

ALLOWANCE FOR LOAN LOSSES - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	$ 911,509	$ 876,116
Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	908,543	864,483
Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	1,390	5,327
Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	1,576	6,306
Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Commercial Real Estate Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	824,143	783,707
Commercial Real Estate Portfolio Segment | Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	179,029	162,796
Commercial Real Estate Portfolio Segment | Commercial Business | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	177,399	159,997
Commercial Real Estate Portfolio Segment | Commercial Business | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	1,282	840
Commercial Real Estate Portfolio Segment | Commercial Business | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	348	1,959
Commercial Real Estate Portfolio Segment | Commercial Business | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Commercial Real Estate Portfolio Segment | Commercial Business | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	507,871	461,432
Commercial Real Estate Portfolio Segment | Commercial Real Estate | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	506,794	454,013
Commercial Real Estate Portfolio Segment | Commercial Real Estate | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	63	4,030
Commercial Real Estate Portfolio Segment | Commercial Real Estate | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	1,014	3,389
Commercial Real Estate Portfolio Segment | Commercial Real Estate | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Commercial Real Estate Portfolio Segment | Commercial Real Estate | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Commercial Real Estate Portfolio Segment | Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	14,026	17,027
Commercial Real Estate Portfolio Segment | Land | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	14,026	16,299
Commercial Real Estate Portfolio Segment | Land | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Commercial Real Estate Portfolio Segment | Land | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	728
Commercial Real Estate Portfolio Segment | Land | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Commercial Real Estate Portfolio Segment | Land | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Commercial Real Estate Portfolio Segment | Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	58,374	51,570
Commercial Real Estate Portfolio Segment | Multi-Family | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	58,295	51,093
Commercial Real Estate Portfolio Segment | Multi-Family | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	45	457
Commercial Real Estate Portfolio Segment | Multi-Family | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	34	20
Commercial Real Estate Portfolio Segment | Multi-Family | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Commercial Real Estate Portfolio Segment | Multi-Family | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Commercial Real Estate Portfolio Segment | Real Estate Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	64,843	90,882
Commercial Real Estate Portfolio Segment | Real Estate Construction | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	64,843	90,882
Commercial Real Estate Portfolio Segment | Real Estate Construction | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Commercial Real Estate Portfolio Segment | Real Estate Construction | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Commercial Real Estate Portfolio Segment | Real Estate Construction | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Commercial Real Estate Portfolio Segment | Real Estate Construction | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	87,366	92,409
Consumer | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	87,186	92,199
Consumer | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Consumer | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	180	210
Consumer | Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	0	0
Consumer | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Receivable	$ 0	$ 0

ALLOWANCE FOR LOAN LOSSES - I_2

ALLOWANCE FOR LOAN LOSSES - Impaired Financing Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	$ 5,075	$ 5,249
Recorded Investment with Specific Valuation Allowance	137	416
Total Recorded Investment	5,212	5,665
Unpaid Principal Balance	6,528	6,888
Related Specific Valuation Allowance	12	22
Commercial Real Estate Portfolio Segment | Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	139	160
Recorded Investment with Specific Valuation Allowance	0	0
Total Recorded Investment	139	160
Unpaid Principal Balance	170	182
Related Specific Valuation Allowance	0	0
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	2,378	2,482
Recorded Investment with Specific Valuation Allowance	0	0
Total Recorded Investment	2,378	2,482
Unpaid Principal Balance	3,405	3,424
Related Specific Valuation Allowance	0	0
Commercial Real Estate Portfolio Segment | Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	714	728
Recorded Investment with Specific Valuation Allowance	0	0
Total Recorded Investment	714	728
Unpaid Principal Balance	748	766
Related Specific Valuation Allowance	0	0
Commercial Real Estate Portfolio Segment | Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	1,549	1,598
Recorded Investment with Specific Valuation Allowance	0	0
Total Recorded Investment	1,549	1,598
Unpaid Principal Balance	1,662	1,709
Related Specific Valuation Allowance	0	0
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	295	281
Recorded Investment with Specific Valuation Allowance	137	416
Total Recorded Investment	432	697
Unpaid Principal Balance	543	807
Related Specific Valuation Allowance	$ 12	$ 22

ALLOWANCE FOR LOAN LOSSES - I_3

ALLOWANCE FOR LOAN LOSSES - Impaired Loans, Average Recorded Investment and Interest Recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	$ 5,357	$ 6,295	$ 9,016
Interest Recognized on Impaired Loans	221	204	294
Commercial Real Estate Portfolio Segment | Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	150	334	930
Interest Recognized on Impaired Loans	62	0	41
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	2,420	2,607	4,185
Interest Recognized on Impaired Loans	40	64	101
Commercial Real Estate Portfolio Segment | Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	720	742	781
Interest Recognized on Impaired Loans	90	7	0
Commercial Real Estate Portfolio Segment | Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	1,573	1,620	1,668
Interest Recognized on Impaired Loans	0	88	90
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	494	992	1,452
Interest Recognized on Impaired Loans	$ 29	$ 45	$ 62

ALLOWANCE FOR LOAN LOSSES - TDR

ALLOWANCE FOR LOAN LOSSES - TDRs by Interest Accrual Status (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual	$ 4,059	$ 4,424
Nonaccrual	1,153	1,241
Total	5,212	5,665
Commercial Real Estate Portfolio Segment | Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual	0	0
Nonaccrual	139	160
Total	139	160
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual	1,364	1,401
Nonaccrual	1,014	1,081
Total	2,378	2,482
Commercial Real Estate Portfolio Segment | Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual	714	728
Nonaccrual	0	0
Total	714	728
Commercial Real Estate Portfolio Segment | Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual	1,549	1,598
Nonaccrual	0	0
Total	1,549	1,598
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual	432	697
Nonaccrual	0	0
Total	$ 432	$ 697

ALLOWANCE FOR LOAN LOSSES - Add

ALLOWANCE FOR LOAN LOSSES - Additional information (Details)	12 Months Ended
	Mar. 31, 2020USD ($)item	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income foregone on non-accrual loans	$ 75,000	$ 94,000	$ 102,000
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Troubled debt restructurings (TDR) loan for nonaccrual	851,000
Commercial Real Estate Portfolio Segment | Commercial and Constructions
Accounts, Notes, Loans and Financing Receivable [Line Items]
Post-modification outstanding recorded investment amount	$ 27,000	$ 25,000
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of TDR loans default | item	1
Consumer | Real estate one-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Extended maturity period of loans receivable	10 years

PREMISES AND EQUIPMENT (Details

PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
PREMISES AND EQUIPMENT
Total	$ 38,573	$ 35,929
Less accumulated depreciation and amortization	(21,495)	(20,471)
Premises and equipment, net	17,078	15,458
Land
PREMISES AND EQUIPMENT
Total	4,531	4,531
Buildings and improvements
PREMISES AND EQUIPMENT
Total	15,356	15,349
Leasehold improvements
PREMISES AND EQUIPMENT
Total	1,666	1,666
Furniture and equipment
PREMISES AND EQUIPMENT
Total	10,819	10,694
Building under capitalized lease
PREMISES AND EQUIPMENT
Total	2,956	2,956
Construction in progress
PREMISES AND EQUIPMENT
Total	$ 3,245	$ 733

PREMISES AND EQUIPMENT - Additi

PREMISES AND EQUIPMENT - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
PREMISES AND EQUIPMENT
Depreciation and amortization expense	$ 1.3	$ 1.1	$ 1.2

DEPOSITS - Summary of Deposit A

DEPOSITS - Summary of Deposit Accounts (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
DEPOSITS
Total	$ 990,448	$ 925,068
Non-interest-bearing
DEPOSITS
Total	271,031	284,854
Interest-bearing checking
DEPOSITS
Total	187,798	183,388
Money market
DEPOSITS
Total	169,798	233,317
Savings accounts
DEPOSITS
Total	226,880	137,503
Certificates of deposit
DEPOSITS
Total	$ 134,941	$ 86,006

DEPOSITS - Maturities of certif

DEPOSITS - Maturities of certificates of deposit for future years (Details) $ in Thousands	Mar. 31, 2020USD ($)
DEPOSITS
2021	$ 74,078
2022	40,579
2023	14,303
2024	2,360
2025	2,623
Thereafter	998
Total	$ 134,941

DEPOSITS - Interest Expense by

DEPOSITS - Interest Expense by Deposit Type (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
DEPOSITS
Interest-bearing checking	$ 100	$ 101	$ 100
Money market	229	302	335
Savings accounts	1,054	145	133
Certificates of deposit	1,507	448	640
Total	$ 2,890	$ 996	$ 1,208

DEPOSITS - Additional Informati

DEPOSITS - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
DEPOSITS
Time deposits more than 250,000	$ 35.9	$ 10.5

FEDERAL HOME LOAN BANK ADVANC_3

FEDERAL HOME LOAN BANK ADVANCES (Details) - USD ($) $ in Thousands		Mar. 31, 2020	Mar. 31, 2019
FEDERAL HOME LOAN BANK ADVANCES
FHLB advances			$ 56,586
Weighted average interest rate on FHLB advances	[1]	2.54%	2.58%
[1]	(1) Computed based on the borrowing activity for the years ending March 31, 2020 and 2019, respectively.

FEDERAL HOME LOAN BANK ADVANC_4

FEDERAL HOME LOAN BANK ADVANCES - Additional Information (Details) $ in Millions	12 Months Ended
	Mar. 31, 2020USD ($)
FEDERAL HOME LOAN BANK ADVANCES
Percentages of federal home loan banks credit line facility	45.00%
Additional borrowing from FHlB	$ 235.9
Loans pledged as collateral to FHIB	$ 397.2

JUNIOR SUBORDINATED DEBENTURE_2

JUNIOR SUBORDINATED DEBENTURES (Details) - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
JUNIOR SUBORDINATED DEBENTURES
Amount Outstanding		$ 27,836
Fair value adjustment	[1]	(1,174)
Total Debentures		$ 26,662	$ 26,575
Riverview Bancorp Statutory Trust I
JUNIOR SUBORDINATED DEBENTURES
Issuance Date		12/2005
Amount Outstanding		$ 7,217
Rate Type	[2]	Variable
Initial Rate		5.88%
Current Rate		2.10%
Maturity Date		3/2036
Riverview Bancorp Statutory Trust II
JUNIOR SUBORDINATED DEBENTURES
Issuance Date		06/2007
Amount Outstanding		$ 15,464
Rate Type	[3]	Variable
Initial Rate		7.03%
Current Rate		2.09%
Maturity Date		9/2037
Merchants Bancorp Statutory Trust I
JUNIOR SUBORDINATED DEBENTURES
Issuance Date	[1]	06/2003
Amount Outstanding	[1]	$ 5,155
Rate Type	[1],[4]	Variable
Initial Rate	[1]	4.16%
Current Rate	[1]	4.33%
Maturity Date	[1]	6/2033
[1]	Amount, net of accretion, attributable to a prior year's business combination.
[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 DEBENTURE_3

JUNIOR SUBORDINATED DEBENTURES - Additional Information (Details)	12 Months Ended
	Mar. 31, 2020USD ($)item	Mar. 31, 2019USD ($)
JUNIOR SUBORDINATED DEBENTURES
Maximum number of consecutive quarters for deferred payment of each debenture | item	20
Debentures issued to grantor trusts	$ 26,700,000	$ 26,600,000
Common securities issued by grantor trusts	$ 836,000	$ 836,000
Riverview Bancorp Statutory Trust I
JUNIOR SUBORDINATED DEBENTURES
Description of variable rate	three-month LIBOR
Interest basis spread on variable rate	1.36%
Riverview Bancorp Statutory Trust II
JUNIOR SUBORDINATED DEBENTURES
Description of variable rate	three-month LIBOR
Interest basis spread on variable rate	1.35%
Merchants Bancorp Statutory Trust I
JUNIOR SUBORDINATED DEBENTURES
Description of variable rate	three-month LIBOR
Interest basis spread on variable rate	3.10%

INCOME TAXES - Components of In

INCOME TAXES - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
INCOME TAXES
Current	$ 5,404	$ 5,157	$ 4,087
Deferred	(574)	(11)	3,668
Total	$ 4,830	$ 5,146	$ 7,755

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Deferred tax assets:
Deferred compensation	$ 63	$ 45
Allowance for loan losses	3,143	2,862
Accrued expenses	137	131
Accumulated depreciation and amortization	935	797
Deferred gain on sale	129	167
Purchase accounting	123	141
Net unrealized loss on investment securities available for sale		829
Operating lease liabilities	971
Other	352	242
Total deferred tax assets	5,853	5,214
Deferred tax liabilities:
FHLB stock dividend	(38)	(97)
Prepaid expenses	(84)	(148)
Operating lease right-of-use assets	(947)
Net unrealized gain on investment securities available for sale	(663)
Loan fees/costs	(844)	(774)
Total deferred tax liabilities	(2,576)	(1,019)
Deferred tax assets, net	$ 3,277	$ 4,195

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
INCOME TAXES
Statutory federal income tax rate	21.00%	21.00%	30.80%	34.00%
State and local income tax rate	3.00%	3.00%	2.50%
Revaluation of net deferred tax assets due to Tax Act	0.00%	0.00%	11.40%
ESOP market value adjustment	(0.10%)	(0.10%)	(0.00%)
BOLI	(1.00%)	(0.80%)	(1.50%)
Other, net	0.60%	(0.10%)	(0.10%)
Effective federal income tax rate	23.50%	23.00%	43.10%

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 22, 2017	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
INCOME TAXES
Federal corporate income tax rate		21.00%	21.00%	30.80%	34.00%
Tax cuts and jobs act net tax expense benefit				$ 422,000
One-time charge to provision for income taxes				$ 2,100,000
Base year allowance for loan losses		$ 2,200,000	$ 2,200,000
Unrecognized deferred tax liability		$ 517,000	$ 517,000
Tax Year 2017
INCOME TAXES
Federal corporate income tax rate	35.00%
Tax Year 2018
INCOME TAXES
Federal corporate income tax rate	21.00%

EMPLOYEE BENEFIT PLANS - Activi

EMPLOYEE BENEFIT PLANS - Activity related to options under all plans (Details) - $ / shares	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Number of Shares
Balance, beginning of year	101,332	141,365	220,654
Options exercised	(58,000)	(37,533)	(59,289)
Options expired	0	(2,500)	(20,000)
Balance, end of year	43,332	101,332	141,365
Weighted Average Exercise Price
Balance, beginning of year	$ 3.26	$ 3.77	$ 4.74
Options exercised	3.69	4.84	4.13
Options expired	0	8.12	13.42
Balance, end of year	$ 2.69	$ 3.26	$ 3.77

EMPLOYEE BENEFIT PLANS - Additi

EMPLOYEE BENEFIT PLANS - Additional information regarding options outstanding, by exercise price range (Details) - Stock options - $1.00 - $3.00	12 Months Ended
	Mar. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Price, lower	$ 1
Range of Exercise Price, upper	$ 3
Weighted Avg Remaining Contractual Life (years)	2 years 9 months 18 days
Options Outstanding, Number | shares	43,332
Options Outstanding, Weighted Average Exercise Price	$ 2.69
Options Exercisable, Number | shares	43,332
Options Exercisable, Weighted Average Exercise Price	$ 2.69

EMPLOYEE BENEFIT PLANS - Stock

EMPLOYEE BENEFIT PLANS - Stock Options Outstanding, less estimated forfeitures (Details) - USD ($)		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Stock options fully vested and expected to vest:
Number		43,332	101,332
Weighted average exercise price		$ 2.69	$ 3.26
Aggregate intrinsic value (1)	[1]	$ 101,000	$ 410,000
Weighted average contractual term of options (years)		2 years 9 months 18 days	2 years 2 months 12 days
Stock options fully vested and currently exercisable:
Number		43,332	101,332
Weighted average exercise price		$ 2.69	$ 3.26
Aggregate intrinsic value (1)	[1]	$ 101,000	$ 410,000
Weighted average contractual term of options (years)		2 years 9 months 18 days	2 years 2 months 12 days
[1]	The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price) that would have been received by the option holders had all option holders exercised. This amount changes based on changes in the market value of the Company's stock.

EMPLOYEE BENEFIT PLANS - Restri

EMPLOYEE BENEFIT PLANS - Restricted Stock Activity (Details)	12 Months Ended
	Mar. 31, 2020$ / sharesshares
Time Based
Number of Unvested Shares
Balance, beginning of period | shares	0
Granted | shares	49,298
Forfeited | shares	0
Vested | shares	0
Cancelled | shares	0
Balance, end of period | shares	49,298
Weighted Average Market Price
Balance, beginning of period | $ / shares	$ 0
Granted | $ / shares	8.35
Forfeited | $ / shares	0
Vested | $ / shares	0
Cancelled | $ / shares	0
Balance, end of period | $ / shares	$ 8.35
Performance Based
Number of Unvested Shares
Balance, beginning of period | shares	0
Granted | shares	33,375
Forfeited | shares	0
Vested | shares	0
Cancelled | shares	0
Balance, end of period | shares	33,375
Weighted Average Market Price
Balance, beginning of period | $ / shares	$ 0
Granted | $ / shares	8.35
Forfeited | $ / shares	0
Vested | $ / shares	0
Cancelled | $ / shares	0
Balance, end of period | $ / shares	$ 8.35
Restricted stock
Number of Unvested Shares
Balance, beginning of period | shares	0
Granted | shares	82,673
Forfeited | shares	0
Vested | shares	0
Cancelled | shares	0
Balance, end of period | shares	82,673
Weighted Average Market Price
Balance, beginning of period | $ / shares	$ 0
Granted | $ / shares	8.35
Forfeited | $ / shares	0
Vested | $ / shares	0
Cancelled | $ / shares	0
Balance, end of period | $ / shares	$ 8.35

EMPLOYEE BENEFIT PLANS - Addi_2

EMPLOYEE BENEFIT PLANS - Additional Information (Details) - USD ($)	Apr. 01, 2020	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options exercised		58,000	37,533	59,289
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based Compensation Expense		$ 302,000	$ 0	$ 0
Unrecognized compensation expense		$ 323,000
Number of stock awards granted		82,673
Shares cancelled		0
Restricted stock | Weighted average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year 8 months 5 days
Performance Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock awards granted		33,375
Shares cancelled		0
Performance Based | Forecast [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares cancelled	8,000
Time Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock awards granted		49,298
Shares cancelled		0
Retirement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses related to plan		$ 561,000	$ 527,000	$ 547,000
Directors' and Executive Officers' Deferred Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation plan annual interest rate		4.46%	4.28%	3.99%
Aggregate liability under the plan		$ 263,000	$ 186,000
Stock Option Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum term		10 years
Vesting period		Zero to five years
Number of shares reserved for common stock		1,800,000
Stock based Compensation Expense		$ 0	0	$ 0
Unrecognized compensation expense		0
Total intrinsic value of stock options exercised		238,000	153,000	$ 257,000
Stock Option Plans | President and Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based Compensation Expense		$ 44,000	$ 44,000
Number of stock options granted		1,000	2,500
Stock Option Plans | Trust Company | President and Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options granted		0	0	0
Number of stock options exercised		1,500	0

EMPLOYEE BENEFIT PLANS - Employ

EMPLOYEE BENEFIT PLANS - Employee stock ownership plan (Details)	12 Months Ended
	Mar. 31, 2020USD ($)itemshares	Mar. 31, 2019USD ($)shares	Mar. 31, 2018USD ($)shares
Employee stock ownership plan [Abstract]
Number of hours of service | item	1,000
Employee Stock Ownership Plan compensation expense | $	$ 195,000	$ 197,000	$ 148,000
Shares released and allocated to participants	410,045	441,966	962,584
Bank purchased common stock on open market and contributed such shares to ESOP	43,545	25,000
Unreleased ESOP shares to participants	19,000

SHAREHOLDERS' EQUITY AND REGU_3

SHAREHOLDERS' EQUITY AND REGULATORY CAPITAL REQUIREMENTS - Compliance with Regulatory Capital Requirements under Banking Regulations (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Shareholders Equity And Regulatory Capital Requirements [Abstract]
Total capital to risk weighted assets actual amount	$ 145,949	$ 140,062
Total capital to risk weighted assets actual ratio	17.01%	16.88%
Total capital to risk weighted assets for capital adequacy purposes amount	$ 68,630	$ 66,379
Total capital to risk weighted assets for capital adequacy purposes ratio	8.00%	8.00%
Total capital to risk weighted assets for capital adequacy purposes well capitalized under prompt corrective action amount	$ 85,787	$ 82,974
Total capital to risk weighted assets for capital adequacy purposes well capitalized under prompt corrective action ratio	10.00%	10.00%
Tier 1 to risk weighted assets actual amount	$ 135,196	$ 129,671
Tier 1 to risk weighted assets actual ratio	15.76%	15.63%
Tier 1 to risk weighted assets for capital adequacy purposes amount	$ 51,472	$ 49,784
Tier 1to risk weighted assets for capital adequacy purposes ratio	6.00%	6.00%
Tier 1 to risk weighted assets well capitalized under prompt corrective action amount	$ 68,630	$ 66,379
Tier 1 to risk weighted assets well capitalized under prompt corrective action ratio	8.00%	8.00%
Common equity Tier 1 capital to risk weighted assets actual amount	$ 135,196	$ 129,671
Common equity Tier 1 capital to risk weighted assets actual ratio	15.76%	15.63%
Common equity Tier 1 to risk weighted assets for capital adequacy purposes amount	$ 38,604	$ 37,338
Common equity Tier 1 to risk weighted assets for capital adequacy purposes ratio	4.50%	4.50%
Common equity Tier 1 to risk weighted assets well capitalized under prompt corrective action amount	$ 55,762	$ 53,933
Common equity Tier 1 to risk weighted assets well capitalized under prompt corrective action ratio	6.50%	6.50%
Tier 1 capital leverage to average tangible assets actual amount	$ 135,196	$ 129,671
Tier 1 capital leverage to average tangible assets actual ratio	11.79%	11.56%
Tier 1 capital leverage to average tangible assets for capital adequacy purposes amount	$ 45,851	$ 44,874
Tier 1 capital leverage to average tangible assets for capital adequacy purposes ratio	4.00%	4.00%
Tier 1 capital leverage to average tangible assets well capitalized under prompt corrective action amount	$ 57,313	$ 56,092
Tier 1 capital leverage to average tangible assets well capitalized under prompt corrective action ratio	5.00%	5.00%

EARNINGS PER SHARE - Earnings P

EARNINGS PER SHARE - Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Mar. 31, 2020		Dec. 31, 2019		Sep. 30, 2019		Jun. 30, 2019		Mar. 31, 2019		Dec. 31, 2018		Sep. 30, 2018		Jun. 30, 2018		Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Basic EPS computation:
Numerator-net income (in dollars)	$ 2,894		$ 4,128		$ 4,534		$ 4,192		$ 4,207		$ 4,388		$ 4,229		$ 4,442		$ 15,748	$ 17,266	$ 10,242
Denominator-weighted average common shares outstanding																	22,642,795	22,588,395	22,531,480
Basic EPS (in dollars per share)	$ 0.13	[1]	$ 0.18	[1]	$ 0.20	[1]	$ 0.19	[1]	$ 0.19	[1]	$ 0.19	[1]	$ 0.19	[1]	$ 0.20	[1]	$ 0.70	$ 0.76	$ 0.45
Diluted EPS computation:
Numerator-net income (in dollars)	$ 2,894		$ 4,128		$ 4,534		$ 4,192		$ 4,207		$ 4,388		$ 4,229		$ 4,442		$ 15,748	$ 17,266	$ 10,242
Denominator-weighted average common shares outstanding																	22,642,795	22,588,395	22,531,480
Effect of dilutive stock options and restricted stock																	55,000	72,000	92,000
Weighted average common shares and common stock equivalents																	22,698,415	22,659,594	22,623,455
Diluted EPS (in dollars per share)	$ 0.13	[1]	$ 0.18	[1]	$ 0.20	[1]	$ 0.18	[1]	$ 0.19	[1]	$ 0.19	[1]	$ 0.19	[1]	$ 0.20	[1]	$ 0.69	$ 0.76	$ 0.45
[1]	Quarterly earnings per common share may vary from annual earnings per common share due to rounding.

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional information (Details) - $ / shares	Apr. 17, 2020	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Feb. 29, 2020
Equity, Class of Treasury Stock [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount		0	0	8,000
Repurchase program
Equity, Class of Treasury Stock [Line Items]
Maximum number of common shares to be repurchased					500,000
Shares repurchased		204,100
Average price		$ 4.94
Subsequent Event [Member]
Equity, Class of Treasury Stock [Line Items]
Average price	$ 4.85
Subsequent Event [Member] | Repurchase program
Equity, Class of Treasury Stock [Line Items]
Shares repurchased	295,900

FAIR VALUE MEASUREMENTS - Estim

FAIR VALUE MEASUREMENTS - Estimated Fair Value on a Recurring Basis (Details) - Recurring basis - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	$ 148,291	$ 178,226
Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	4,877	8,881
Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	6,016	12,341
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 recurring basis	43,791	40,162
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 recurring basis	60,085	75,821
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 recurring basis	33,522	41,021
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	0	0
Level 1 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	0	0
Level 1 | Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	0	0
Level 1 | 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 recurring basis	0	0
Level 1 | 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 recurring basis	0	0
Level 1 | 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 recurring basis	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	148,291	178,226
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 recurring basis	4,877	8,881
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 recurring basis	6,016	12,341
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 recurring basis	43,791	40,162
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 recurring basis	60,085	75,821
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 recurring basis	33,522	41,021
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	0	0
Level 3 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	0	0
Level 3 | Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	0	0
Level 3 | 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 recurring basis	0	0
Level 3 | 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 recurring basis	0	0
Level 3 | 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 recurring basis	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets Measured at Fair Value on a Non-recurring Basis (Details) - Nonrecurring basis - Impaired loans - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total nonrecurring assets measured at fair value	$ 125	$ 394
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total nonrecurring assets measured at fair value	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total nonrecurring assets measured at fair value	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total nonrecurring assets measured at fair value	$ 125	$ 394

FAIR VALUE MEASUREMENTS - Level

FAIR VALUE MEASUREMENTS - Level 3 inputs for financial instruments measured at fair value (Details)	12 Months Ended
	Mar. 31, 2020
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	5.25%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	8.00%

FAIR VALUE MEASUREMENTS - Carry

FAIR VALUE MEASUREMENTS - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Carrying Amount | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 41,968	$ 22,950
Carrying Amount | Certificates of deposit held for investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	249	747
Carrying Amount | Loans held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	275	909
Carrying Amount | Investment securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	148,291	178,226
Carrying Amount | Investment securities held to maturity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	28	35
Carrying Amount | Loans receivable, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	898,885	864,659
Carrying Amount | FHLB stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	1,420	3,644
Carrying Amount | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	134,941	86,006
Carrying Amount | FHLB advances
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities		56,586
Carrying Amount | Junior subordinated debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	26,662	26,575
Estimated Fair Value | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	41,968	22,950
Estimated Fair Value | Certificates of deposit held for investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	258	746
Estimated Fair Value | Loans held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	275	909
Estimated Fair Value | Investment securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	148,291	178,226
Estimated Fair Value | Investment securities held to maturity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	28	35
Estimated Fair Value | Loans receivable, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	889,398	862,429
Estimated Fair Value | FHLB stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	1,420	3,644
Estimated Fair Value | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	136,997	84,455
Estimated Fair Value | FHLB advances
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities		56,586
Estimated Fair Value | Junior subordinated debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	12,127	15,468
Level 1 | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	41,968	22,950
Level 1 | Certificates of deposit held for investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 1 | Loans held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 1 | Investment securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 1 | Investment securities held to maturity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 1 | Loans receivable, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 1 | FHLB stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 1 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0	0
Level 1 | FHLB advances
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities		0
Level 1 | Junior subordinated debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0	0
Level 2 | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 2 | Certificates of deposit held for investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	258	746
Level 2 | Loans held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	275	909
Level 2 | Investment securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	148,291	178,226
Level 2 | Investment securities held to maturity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	28	35
Level 2 | Loans receivable, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 2 | FHLB stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	1,420	3,644
Level 2 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	136,997	84,455
Level 2 | FHLB advances
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities		56,586
Level 2 | Junior subordinated debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0	0
Level 3 | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 3 | Certificates of deposit held for investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 3 | Loans held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 3 | Investment securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 3 | Investment securities held to maturity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 3 | Loans receivable, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	889,398	862,429
Level 3 | FHLB stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 3 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0	0
Level 3 | FHLB advances
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities		0
Level 3 | Junior subordinated debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	$ 12,127	$ 15,468

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Revenue from External Customer [Line Items]
BOLI									$ 864	$ 734	$ 819
Net gains on sales of loans held for sale									252	317	641
FHLMC loan servicing fees									147	141	122
Other, net									770	792	714
Total non-interest income	$ 2,892	$ 3,163	$ 3,169	$ 3,136	$ 2,670	$ 2,728	$ 2,840	$ 2,869	12,360	11,107	10,650
Asset management fees
Revenue from External Customer [Line Items]
Non-interest income									4,408	3,791	3,448
Debit card and ATM fees
Revenue from External Customer [Line Items]
Non-interest income									3,102	3,104	2,961
Deposit related fees
Revenue from External Customer [Line Items]
Non-interest income									2,212	1,721	1,628
Loan related fees
Revenue from External Customer [Line Items]
Non-interest income									$ 605	$ 507	$ 317

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Significant Off-balance Sheet Commitments (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	$ 160,682	$ 182,989
Commitments to originate loans: | Adjustable-rate
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	18,712	30,579
Commitments to originate loans: | Fixed-rate
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	17,085	10,158
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	2,045	2,410
Undisbursed loan funds and unused lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	$ 122,840	$ 139,842

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Additional Information (Details)	12 Months Ended
	Mar. 31, 2020USD ($)
COMMITMENTS AND CONTINGENCIES
Threshold limit for honoring of commitments	45 days
Commitments to sell	$ 1,100,000
Loans under warranty	99,500,000
Allowance for FHLMC loans	$ 12,000

LEASES - Lease Right-of-use Ass

LEASES - Lease Right-of-use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Finance lease liability	$ 2,369	$ 2,403
Finance lease remaining lease term	19 years 8 months 5 days
Finance lease discount rate	7.16%
Operating lease liabilities	$ 4,046
Operating lease weighted-average remaining lease term	3 years 11 months 1 day
Operating lease weighted-average discount rate	2.77%
Premises and equipment, net
Finance lease right-of-use asset	$ 1,508
Finance lease liability
Finance lease liability	2,369
Prepaid expenses and other assets
Operating lease right-of-use assets	3,949
Accrued expenses and other liabilities
Operating lease liabilities	$ 4,046

LEASES - Lease Costs for Operat

LEASES - Lease Costs for Operating Leases (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2020USD ($)
LEASES
Finance lease amortization of right-of-use asset	$ 77
Finance lease interest on lease liability	171
Operating lease costs	1,508
Variable lease costs	209
Total lease cost	$ 1,965

LEASES - Undiscounted Cash Flow

LEASES - Undiscounted Cash Flows (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Operating Leases
2021	$ 1,011
2022	747
2023	573
2024	583
2025	577
Thereafter	929
Total minimum lease payments	4,420
Less: amount of lease payment representing interest	(374)
Lease liabilities	$ 4,046
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accrued Liabilities and Other Liabilities, Total
Finance Lease
2021	$ 208
2022	212
2023	215
2024	219
2025	222
Thereafter	3,400
Total minimum lease payments	4,476
Less: amount of lease payment representing interest	(2,107)
Lease liabilities	$ 2,369	$ 2,403

LEASES - Additional Information

LEASES - Additional Information (Details)	1 Months Ended	12 Months Ended
	Mar. 31, 2010location	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)
Operating lease		$ 1,700,000
Rent expense			$ 2,000,000	$ 2,100,000
Number of branches sold | location	2
Deferred gain on sale		2,100,000
Accrued expenses and other liabilities
Deferred gain on sale		$ 537,000

RIVERVIEW BANCORP, INC. (PARE_3

RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) - BALANCE SHEETS (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
ASSETS
Cash and cash equivalents	$ 41,968	$ 22,950	$ 44,767	$ 64,613
TOTAL ASSETS	1,180,808	1,156,921
LIABILITIES AND SHAREHOLDERS' EQUITY
Accrued expenses and other liabilities	11,783	12,536
Shareholders' equity	148,843	133,122
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,180,808	1,156,921
RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY)
ASSETS
Cash and cash equivalents	10,269	4,178	$ 6,479	$ 5,188
Investment in the Bank	165,130	155,041
Other assets	1,440	1,445
TOTAL ASSETS	176,839	160,664
LIABILITIES AND SHAREHOLDERS' EQUITY
Accrued expenses and other liabilities	199	63
Dividend payable	1,135	904
Borrowings	26,662	26,575
Shareholders' equity	148,843	133,122
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 176,839	$ 160,664

RIVERVIEW BANCORP, INC. (PARE_4

RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) - STATEMENTS OF INCOME (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
INCOME:
Interest on loan receivable from the Bank									$ 46,405	$ 44,938	$ 40,013
EXPENSE:
Other expenses									2,033	1,870	2,450
Total expense	$ 8,818	$ 9,248	$ 9,003	$ 9,194	$ 8,962	$ 8,803	$ 8,915	$ 9,019	36,263	35,699	35,618
LOSS BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF THE BANK	3,874	5,407	5,885	5,412	5,580	5,659	5,453	5,720	20,578	22,412	17,997
BENEFIT FOR INCOME TAXES	980	1,279	1,351	1,220	1,373	1,271	1,224	1,278	4,830	5,146	7,755
NET INCOME	2,894	$ 4,128	$ 4,534	$ 4,192	4,207	$ 4,388	$ 4,229	$ 4,442	15,748	17,266	10,242
RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY)
INCOME:
Interest on investment securities and other short-term investments									33	35	26
Interest on loan receivable from the Bank									0	0	6
Total income									33	35	32
EXPENSE:
Management service fees paid to the Bank									143	143	143
Other expenses									1,233	1,298	1,020
Total expense									1,376	1,441	1,163
LOSS BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF THE BANK									(1,343)	(1,406)	(1,131)
BENEFIT FOR INCOME TAXES									(282)	(294)	(513)
LOSS OF PARENT COMPANY									(1,061)	(1,112)	(618)
EQUITY IN UNDISTRIBUTED INCOME OF THE BANK	$ 16,809				$ 18,378				16,809	18,378	10,860
NET INCOME									$ 15,748	$ 17,266	$ 10,242

RIVERVIEW BANCORP, INC. (PARE_5

RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) - STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 2,894	$ 4,128	$ 4,534	$ 4,192	$ 4,207	$ 4,388	$ 4,229	$ 4,442	$ 15,748	$ 17,266	$ 10,242
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock based compensation									346	44	88
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid									4,075	3,163	2,140
Proceeds from exercise of stock options									227	179	245
Repurchase of common stock									(1,019)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS									19,018	(21,817)	(19,846)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR				22,950				44,767	22,950	44,767	64,613
CASH AND CASH EQUIVALENTS, END OF YEAR	41,968				22,950				41,968	22,950	44,767
RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income									15,748	17,266	10,242
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed income of the Bank									(16,809)	(18,378)	(10,860)
Amortization									87	91	94
Provision for deferred income taxes									0	10	174
Earned ESOP shares									0	0	148
Stock based compensation									346	44	88
Changes in assets and liabilities:
Other assets									(278)	(447)	1,770
Accrued expenses and other liabilities									364	97	(220)
Net cash provided by (used in) operating activities									(542)	(1,317)	1,436
CASH FLOWS FROM INVESTING ACTIVITIES:
Dividend from the Bank									11,500	2,000	1,750
Net cash provided by investing activities									11,500	2,000	1,750
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid									(4,075)	(3,163)	(2,140)
Proceeds from exercise of stock options									227	179	245
Repurchase of common stock									(1,019)	0	0
Net cash used in financing activities									(4,867)	(2,984)	(1,895)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS									6,091	(2,301)	1,291
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR				$ 4,178				$ 6,479	4,178	6,479	5,188
CASH AND CASH EQUIVALENTS, END OF YEAR	$ 10,269				$ 4,178				$ 10,269	$ 4,178	$ 6,479

RIVERVIEW BANCORP, INC. (PARE_6

RIVERVIEW BANCORP, INC. (PARENT COMPANY ONLY) - SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Mar. 31, 2020		Dec. 31, 2019		Sep. 30, 2019		Jun. 30, 2019		Mar. 31, 2019		Dec. 31, 2018		Sep. 30, 2018		Jun. 30, 2018		Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED):
Interest and dividend income	$ 12,291		$ 12,766		$ 12,882		$ 12,556		$ 12,802		$ 12,390		$ 12,389		$ 12,288		$ 50,495	$ 49,869	$ 45,314
Interest expense	1,241		1,274		1,163		1,086		930		656		611		618		4,764	2,815	2,349
Net interest income	11,050		11,492		11,719		11,470		11,872		11,734		11,778		11,670		45,731	47,054	42,965
Provision for loan losses	1,250		0		0		0		0		0		250		(200)		1,250	50	0
Non-interest income, net	2,892		3,163		3,169		3,136		2,670		2,728		2,840		2,869		12,360	11,107	10,650
Non-interest expense	8,818		9,248		9,003		9,194		8,962		8,803		8,915		9,019		36,263	35,699	35,618
Income before income taxes	3,874		5,407		5,885		5,412		5,580		5,659		5,453		5,720		20,578	22,412	17,997
Provision for income taxes	980		1,279		1,351		1,220		1,373		1,271		1,224		1,278		4,830	5,146	7,755
Net income	$ 2,894		$ 4,128		$ 4,534		$ 4,192		$ 4,207		$ 4,388		$ 4,229		$ 4,442		$ 15,748	$ 17,266	$ 10,242
Basic EPS (in dollars per share)	$ 0.13	[1]	$ 0.18	[1]	$ 0.20	[1]	$ 0.19	[1]	$ 0.19	[1]	$ 0.19	[1]	$ 0.19	[1]	$ 0.20	[1]	$ 0.70	$ 0.76	$ 0.45
Diluted EPS (in dollars per share)	$ 0.13	[1]	$ 0.18	[1]	$ 0.20	[1]	$ 0.18	[1]	$ 0.19	[1]	$ 0.19	[1]	$ 0.19	[1]	$ 0.20	[1]	$ 0.69	$ 0.76	$ 0.45
[1]	Quarterly earnings per common share may vary from annual earnings per common share due to rounding.