Riverview Bancorp (RVSB) 10-Q 8 Feb 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2023	Feb. 08, 2024
Document and Entity Information:
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	000-22957
Entity Registrant Name	RIVERVIEW BANCORP, INC.
Entity Incorporation, State or Country Code	WA
Entity Tax Identification Number	91-1838969
Entity Address, Address Line One	900 Washington St.
Entity Address, Address Line Two	Ste. 900
Entity Address, City or Town	Vancouver
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98660
City Area Code	360
Local Phone Number	693-6650
Title of 12(b) Security	Common Stock
Trading Symbol	RVSB
Security Exchange Name	NASDAQ
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 Common Stock, Shares Outstanding		21,111,043
Entity Central Index Key	0001041368
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
ASSETS
Cash and cash equivalents (including interest earning deposits in other banks of $23,717 and $10,397)	$ 37,553	$ 22,044
Certificates of deposit held for investment		249
Investment securities:
Available for sale, at estimated fair value	196,461	211,499
Held to maturity, at amortized cost (estimated fair value of $200,475 and $210,214)	232,659	243,843
Loans receivable (net of allowance for credit losses of $15,361 and $15,309)	1,002,838
Loans receivable (net of allowance for credit losses of $15,361 and $15,309)		993,547
Prepaid expenses and other assets	14,486	15,950
Accrued interest receivable	5,248	4,790
Federal Home Loan Bank ("FHLB") stock , at cost	8,026	6,867
Premises and equipment, net	22,270	20,119
Financing lease right-of-use ("ROU") assets	1,221	1,278
Deferred income taxes, net	10,033	10,286
Goodwill	27,076	27,076
Core deposit intangible ("CDI"), net	298	379
Bank owned life insurance ("BOLI")	32,454	31,785
TOTAL ASSETS	1,590,623	1,589,712
LIABILITIES:
Deposits	1,218,892	1,265,217
Accrued expenses and other liabilities	26,740	15,730
Advance payments by borrowers for taxes and insurance	299	625
FHLB advances	157,054	123,754
Junior subordinated debentures	26,982	26,918
Finance lease liability	2,184	2,229
Total liabilities	1,432,151	1,434,473
COMMITMENTS AND CONTINGENCIES (See Note 13)
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 September 30, 2023 - 21,125,889 shares issued and outstanding March 31, 2023 - 21,221,960 shares issued and outstanding	211	212
Additional paid-in capital	54,982	55,511
Retained earnings	120,734	117,826
Accumulated other comprehensive loss	(17,455)	(18,310)
Total shareholders' equity	158,472	155,239
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,590,623	$ 1,589,712

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
CONSOLIDATED BALANCE SHEETS
Interest-earning accounts included in cash (in dollars)	$ 23,717	$ 10,397
Fair value of mortgage-backed securities held to maturity (in dollars)	200,475	210,214
Allowance for credit losses (in dollars)	$ 15,361	15,309
Allowance for credit losses (in dollars)		$ 15,309
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	21,111,043	21,221,960
Common stock, shares outstanding	21,111,043	21,221,960

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
INTEREST AND DIVIDEND INCOME:
Interest and fees on loans receivable	$ 11,645,000	$ 11,531,000	$ 34,288,000	$ 33,496,000
Interest on investment securities - taxable	2,231,000	2,397,000	6,826,000	6,403,000
Interest on investment securities - nontaxable	65,000	66,000	196,000	197,000
Other interest and dividends	331,000	449,000	954,000	1,629,000
Total interest and dividend income	14,272,000	14,443,000	42,264,000	41,725,000
INTEREST EXPENSE:
Interest on deposits	2,059,000	289,000	5,264,000	897,000
Interest on borrowings	2,889,000	454,000	7,466,000	1,036,000
Total interest expense	4,948,000	743,000	12,730,000	1,933,000
Net interest income	9,324,000	13,700,000	29,534,000	39,792,000
Net interest income after provision for credit losses	9,324,000	13,700,000	29,534,000	39,792,000
NON-INTEREST INCOME:
BOLI	211,000	194,000	669,000	626,000
Other, net	46,000	130,000	288,000	235,000
Total non-interest income, net	3,056,000	2,963,000	9,748,000	9,223,000
NON-INTEREST EXPENSE:
Salaries and employee benefits	6,091,000	5,982,000	17,979,000	17,819,000
Occupancy and depreciation	1,698,000	1,536,000	4,930,000	4,600,000
Data processing	712,000	705,000	2,096,000	2,184,000
Amortization of CDI	27,000	29,000	81,000	87,000
Advertising and marketing	282,000	202,000	950,000	694,000
FDIC insurance premium	178,000	116,000	530,000	351,000
State and local taxes	355,000	225,000	814,000	634,000
Telecommunications	56,000	48,000	161,000	153,000
Professional fees	353,000	343,000	961,000	924,000
Other	799,000	662,000	2,116,000	1,975,000
Total non-interest expense	10,551,000	9,848,000	30,618,000	29,421,000
INCOME BEFORE INCOME TAXES	1,829,000	6,815,000	8,664,000	19,594,000
PROVISION FOR INCOME TAXES	377,000	1,575,000	1,897,000	4,508,000
NET INCOME	$ 1,452,000	$ 5,240,000	$ 6,767,000	$ 15,086,000
Earnings per common share:
Basic (in dollars per share)	$ 0.07	$ 0.24	$ 0.32	$ 0.69
Diluted (in dollars per share)	$ 0.07	$ 0.24	$ 0.32	$ 0.69
Weighted average number of common shares outstanding:
Basic (in shares)	21,113,464	21,504,903	21,146,888	21,717,959
Diluted (in shares)	21,113,464	21,513,617	21,148,679	21,726,552
Fees and service charges
NON-INTEREST INCOME:
Non-interest income	$ 1,533,000	$ 1,502,000	$ 4,871,000	$ 4,903,000
Asset management fees.
NON-INTEREST INCOME:
Non-interest income	$ 1,266,000	$ 1,137,000	$ 3,920,000	$ 3,459,000

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net Income (Loss)	$ 1,452,000	$ 5,240,000	$ 6,767,000	$ 15,086,000
Other comprehensive income (loss):
Net unrealized holding gains (losses) from available for sale investment securities arising during the period, net of tax (expense) benefit of ($1,968), ($283), ($270) and $3,666, respectively	6,236,000	894,000	855,000	(11,607,000)
Total comprehensive income, net	$ 7,688,000	$ 6,134,000	$ 7,622,000	$ 3,479,000

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Tax effect of unrealized holding gains (losses) from available for sale securities	$ (1,968)	$ (283)	$ (270)	$ 3,666

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings Adjustment	Retained Earnings	Accumulated Other Comprehensive Loss	Adjustment	Total
Balance at Mar. 31, 2022	$ 221	$ 62,048		$ 104,931	$ (9,951)		$ 157,249
Balance (in shares) at Mar. 31, 2022	22,127,396
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				15,086			15,086
Cash dividends on common stock				(3,900)			(3,900)
Exercise of stock options		4					$ 4
Exercise of stock options (in shares)	1,511						1,511
Stock repurchased	$ (7)	(4,858)					$ (4,865)
Stock repurchased (in shares)	(701,291)
Restricted stock grants and forfeited, net (in shares)	68,719
Stock-based compensation, net		292					292
Purchase of subsidiary shares from noncontrolling interest		(234)					(234)
Other comprehensive income (loss), net					(11,607)		(11,607)
Balance at Dec. 31, 2022	$ 214	57,252		116,117	(21,558)		152,025
Balance (in shares) at Dec. 31, 2022	21,496,335
Balance at Sep. 30, 2022	$ 214	57,233		112,167	(22,452)		147,162
Balance (in shares) at Sep. 30, 2022	21,507,132
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				5,240			5,240
Cash dividends on common stock				(1,290)			(1,290)
Stock repurchased		(81)					(81)
Stock repurchased (in shares)	(10,797)
Stock-based compensation, net		100					100
Other comprehensive income (loss), net					894		894
Balance at Dec. 31, 2022	$ 214	57,252		116,117	(21,558)		152,025
Balance (in shares) at Dec. 31, 2022	21,496,335
Balance at Mar. 31, 2023	$ 212	55,511	$ (53)	117,826	(18,310)	$ (53)	155,239
Balance (in shares) at Mar. 31, 2023	21,221,960
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				6,767			6,767
Cash dividends on common stock				(3,806)			(3,806)
Exercise of stock options		36					$ 36
Exercise of stock options (in shares)	12,799						12,799
Stock repurchased	$ (1)	(576)					$ (577)
Stock repurchased (in shares)	(109,162)
Restricted stock grants and forfeited, net (in shares)	(14,554)
Stock-based compensation, net		11					11
Other comprehensive income (loss), net					855		855
Balance at Dec. 31, 2023	$ 211	54,982		120,734	(17,455)		158,472
Balance (in shares) at Dec. 31, 2023	21,111,043
Balance at Sep. 30, 2023	$ 211	54,963		120,556	(23,691)		152,039
Balance (in shares) at Sep. 30, 2023	21,125,889
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				1,452			1,452
Cash dividends on common stock				(1,274)			(1,274)
Restricted stock grants and forfeited, net (in shares)	(14,846)
Stock-based compensation, net		19					19
Other comprehensive income (loss), net					6,236		6,236
Balance at Dec. 31, 2023	$ 211	$ 54,982		$ 120,734	$ (17,455)		$ 158,472
Balance (in shares) at Dec. 31, 2023	21,111,043

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
Dividend per share (in dollars per share)	$ 0.06	$ 0.06	$ 0.18	$ 0.18

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 6,767	$ 15,086
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,934	2,053
Purchased loans amortization (accretion), net	92	(43)
Stock-based compensation expense	11	292
Increase (decrease) in deferred loan origination fees, net of amortization	326	(30)
Income from BOLI	(669)	(626)
Changes in certain other assets and liabilities:
Prepaid expenses and other assets	1,577	(258)
Accrued interest receivable	(458)	(1,077)
Accrued expenses and other liabilities	11,041	(405)
Net cash provided by operating activities	20,621	14,992
CASH FLOWS FROM INVESTING ACTIVITIES:
Loan (originations) repayments, net	(2,093)	22,333
Purchases of loans receivable	(7,658)	(48,330)
Principal repayments on investment securities available for sale	13,229	11,907
Purchases of investment securities available for sale		(73,303)
Proceeds from calls of investment securities available for sale	3,016	10
Principal repayments on investment securities held to maturity	10,867	14,033
Purchases of investment securities held to maturity		(8,496)
Purchases of premises and equipment and capitalized software	(3,812)	(4,449)
Redemption of certificates of deposits held for investment	249
Purchase of FHLB stock, net	(1,159)	(1,290)
Proceeds from sales of real estate owned ("REO") and premises and equipment		63
Net cash provided by (used in) investing activities	12,639	(87,522)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net decrease in deposits	(46,325)	(167,881)
Dividends paid	(3,814)	(3,827)
Proceeds from borrowings	465,480	38,514
Repayment of borrowings	(432,180)	(6,250)
Net decrease in advance payments by borrowers for taxes and insurance	(326)	(212)
Principal payments on finance lease liability	(45)	(40)
Proceeds from exercise of stock options	36	4
Repurchase of common stock	(577)	(4,865)
Net cash used in financing activities	(17,751)	(144,557)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	15,509	(217,087)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	22,044	241,424
CASH AND CASH EQUIVALENTS, END OF PERIOD	37,553	24,337
Cash paid during the period for:
Interest	12,205	1,696
Income taxes	1,620	3,993
NONCASH INVESTING AND FINANCING ACTIVITIES:
Dividends declared and accrued in other liabilities	1,267	1,290
Net unrealized holding gains (losses) from available for sale investment securities	1,125	(15,273)
Income tax effect related to other comprehensive (income) loss	(270)	$ 3,666
Adjustment to retained earnings, net of deferred tax; - adoption of ASU 2016-13	$ (53)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Dec. 31, 2023
BASIS OF PRESENTATION
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Quarterly Reports on Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of financial condition, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America (“generally accepted accounting principles” or “GAAP”). However, all adjustments that are, in the opinion of management, necessary for a fair presentation of the interim unaudited consolidated financial statements have been included. All such adjustments are of a normal recurring nature. ​ The accompanying unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Riverview Bancorp, Inc. Annual Report on Form 10-K for the year ended March 31, 2023 (“2023 Form 10-K”). The unaudited consolidated results of operations for the nine months ended December 31, 2023 are not necessarily indicative of the results which may be expected for the entire fiscal year ending March 31, 2024. ​ The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. ​ 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. ​ ​

PRINCIPLES OF CONSOLIDATION

PRINCIPLES OF CONSOLIDATION	9 Months Ended
	Dec. 31, 2023
PRINCIPLES OF CONSOLIDATION
PRINCIPLES OF CONSOLIDATION	2. PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of Riverview Bancorp, Inc.; its wholly-owned subsidiary, Riverview Bank (the “Bank”); and the Bank’s wholly-owned subsidiaries, Riverview Services, Inc. and Riverview Trust Company (the “Trust Company”) (collectively referred to as the “Company”). All inter-company transactions and balances have been eliminated in consolidation. ​ 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. In both October 2020 and May 2021, the Trust Company issued an additional 500 shares of Trust Company stock upon the exercise of options for 500 shares of Trust Company common stock by the Trust Company’s President and Chief Executive Officer. In August 2022, the Trust Company repurchased all the outstanding shares held by its noncontrolling interest owner. Upon repurchase, these shares were retired. This transaction resulted in the Bank’s ownership increasing from 97.3% to 100%. The book value of the noncontrolling interest was $234,000 prior to the share repurchase. These amounts were insignificant and are not presented separately in the accompanying consolidated financial statements. ​

STOCK PLANS AND STOCK-BASED COM

STOCK PLANS AND STOCK-BASED COMPENSATION	9 Months Ended
	Dec. 31, 2023
STOCK PLANS AND STOCK-BASED COMPENSATION
STOCK PLANS AND STOCK-BASED COMPENSATION	3. STOCK PLANS AND STOCK-BASED COMPENSATION 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. Further, no options granted under the 2003 plan remain outstanding as of December 31, 2023, with all such awards having been either previously exercised or forfeited. Each option granted under the 2003 Plan had an exercise price equal to the fair 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 reserved 1,800,000 shares of its common stock for issuance under the 2017 Plan. At December 31, 2023, there were 1,532,003 shares available for grant 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, considering 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 under the 2017 Stock Option Plan during the nine months ended December 31, 2023 and 2022. ​ As of December 31, 2023, 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 nine months ended December 31, 2023 and 2022 under the Stock Option Plans. ​ The following table presents the activity related to stock options under the Stock Option Plans for the periods shown: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended December 31, ​ Nine Months Ended December 31, ​ ​ 2023 ​ 2022 ​ ​ Weighted ​ Weighted ​ ​ ​ ​ Average ​ ​ ​ Average ​ ​ ​ Number of ​ Exercise ​ Number of ​ Exercise ​ ​ Shares Price Shares Price Balance, beginning of period 14,310 ​ $ 2.78 17,332 ​ $ 2.78 Options exercised (12,799) ​ 2.78 (1,511) ​ 2.78 Options expired (1,511) ​ 2.78 (1,511) ​ 2.78 Balance, end of period — ​ $ — 14,310 ​ $ 2.78 ​ There were no stock options outstanding as of December 31, 2023. The following table presents information on stock options outstanding, less estimated forfeitures, as of December 31, 2022: ​ ​ ​ ​ ​ ​ 2022 ​ Stock options fully vested and expected to vest: ​ ​ Number ​ 14,310 ​ Weighted average exercise price $ 2.78 ​ Aggregate intrinsic value (1) $ 70,000 ​ Weighted average contractual term of options (years) 0.54 ​ Stock options fully vested and currently exercisable: ​ ​ Number 14,310 ​ Weighted average exercise price $ 2.78 ​ Aggregate intrinsic value (1) $ 70,000 ​ Weighted average contractual term of options (years) 0.54 ​ ​ (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 $28,000 and $7,000 for the nine months ended December 31, 2023 and 2022, respectively, under the Stock Option Plans. ​ The Company may grant restricted stock pursuant to the 2017 Plan of which vesting can either be time based or performance based. Performance based awards are subject to attaining certain performance metrics and all, or a portion of, the performance based awards can subsequently be cancelled for not attaining the predetermined 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 $19,000 and $100,000 for the three months ended December 31, 2023 and 2022, and $11,000 and $292,000 for the nine months ended December 31, 2023 and 2022, respectively. The decreased amount for the three and nine months ended December 31, 2023 resulted from restricted stock forfeited during the three and nine months ended December 31, 2023 totaling ($26,000) and ($238,000) , respectively. The unrecognized stock-based compensation related to restricted stock was $267,000 and $539,000 at December 31, 2023 and 2022, respectively. The weighted average vesting period for the restricted stock was 1.51 years and 1.33 years at December 31, 2023 and 2022, respectively. ​ A summary of changes in nonvested restricted stock awards for the periods shown: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time Based Performance Based Total ​ ​ Number ​ Weighted ​ Number ​ Weighted ​ Number ​ Weighted ​ ​ of ​ Average ​ of ​ Average ​ of ​ Average ​ ​ Unvested ​ Grant Date ​ Unvested ​ Grant Date ​ Unvested ​ Grant Date Nine Months Ended December 31, 2023 Shares Fair Value Shares Fair Value Shares Fair Value Balance, beginning of period 29,977 ​ $ 6.14 132,645 ​ $ 6.05 162,622 ​ $ 6.07 Granted 19,926 ​ 5.21 84,040 ​ 5.21 103,966 ​ 5.21 Forfeited (19,006) ​ 5.81 (99,514) ​ 5.94 (118,520) ​ 5.92 Vested (15,118) ​ 5.77 (53,774) ​ 5.38 (68,892) ​ 5.47 Balance, end of period 15,779 ​ $ 5.72 63,397 ​ $ 5.68 79,176 ​ $ 5.69 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time Based Performance Based Total ​ ​ Number ​ Weighted ​ Number ​ Weighted ​ Number ​ Weighted ​ ​ of ​ Average ​ of ​ Average ​ of ​ Average ​ ​ Unvested ​ Grant Date ​ Unvested ​ Grant Date ​ Unvested ​ Grant Date Nine Months Ended December 31, 2022 Shares Fair Value Shares Fair Value Shares Fair Value Balance, beginning of period 26,855 ​ $ 6.02 121,492 ​ $ 5.70 148,347 ​ $ 5.76 Granted 15,571 ​ 6.30 56,125 ​ 6.30 71,696 ​ 6.30 Forfeited — ​ — (2,977) ​ 7.56 (2,977) ​ 7.56 Vested (12,449) ​ 6.07 (41,995) ​ 5.26 (54,444) ​ 5.45 Balance, end of period 29,977 ​ $ 6.14 132,645 ​ $ 6.05 162,622 ​ $ 6.07 ​

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Dec. 31, 2023
EARNINGS PER SHARE
EARNINGS PER SHARE	4. 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. Nonvested shares of restricted stock are included in the computation of basic EPS because the holder has voting rights and shares in non-forfeitable dividends during the vesting period. Diluted EPS is computed by dividing net income 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. For the nine months ended December 31, 2023 and 2022, there were no stock options excluded in computing diluted EPS. ​ In November 2022, the Company’s Board of Directors adopted a stock repurchase program (the “November 2022 repurchase program”). Under the November 2022 repurchase program, the Company was authorized to repurchase up to $2.5 million of the Company’s outstanding shares of common stock, in the open market, based on prevailing market prices, or in privately negotiated transactions, over a period beginning on November 28, 2022 and continuing until the earlier of the completion of the authorized level of repurchases or May 28, 2023, depending upon market conditions. The Company completed the November 2022 repurchase program on May 5, 2023, repurchasing a total of 394,334 shares at an average cost of $6.34 per share for a total cost of $2.5 million. All shares repurchased under the November 2022 program were retired as of May 28, 2023. ​ ​ The following table presents a reconciliation of the components used to compute basic and diluted EPS for the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended December 31, Nine Months Ended December 31, ​ 2023 2022 2023 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic EPS computation: ​ ​ ​ ​ Numerator-net income ​ $ 1,452,000 ​ $ 5,240,000 ​ $ 6,767,000 ​ $ 15,086,000 Denominator-weighted average common shares outstanding ​ 21,113,464 ​ 21,504,903 ​ 21,146,888 ​ 21,717,959 Basic EPS ​ $ 0.07 ​ $ 0.24 ​ $ 0.32 ​ $ 0.69 Diluted EPS computation: ​ ​ ​ ​ Numerator-net income ​ $ 1,452,000 ​ $ 5,240,000 ​ $ 6,767,000 ​ $ 15,086,000 Denominator-weighted average common shares outstanding ​ 21,113,464 ​ 21,504,903 ​ 21,146,888 ​ 21,717,959 Effect of dilutive stock options ​ — ​ 8,714 ​ 1,791 ​ 8,593 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares and common stock equivalents ​ 21,113,464 ​ 21,513,617 ​ 21,148,679 ​ 21,726,552 Diluted EPS ​ $ 0.07 ​ $ 0.24 ​ $ 0.32 ​ $ 0.69 ​

INVESTMENT SECURITIES

INVESTMENT SECURITIES	9 Months Ended
	Dec. 31, 2023
INVESTMENT SECURITIES
INVESTMENT SECURITIES	5. INVESTMENT SECURITIES The amortized cost and approximate fair value of investment securities consisted of the following at the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross Estimated ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ ​ Cost ​ Gains ​ Losses ​ Value December 31, 2023 ​ ​ ​ ​ Available for sale: ​ ​ ​ ​ ​ Municipal securities ​ $ 47,719 ​ $ 49 ​ $ (7,461) ​ $ 40,307 Agency securities ​ 89,206 ​ ​ — ​ ​ (5,214) ​ ​ 83,992 Real estate mortgage investment conduits (1) ​ 32,021 ​ ​ — ​ ​ (5,601) ​ ​ 26,420 Residential mortgage-backed securities (1) ​ 14,191 ​ ​ 3 ​ ​ (898) ​ ​ 13,296 Other mortgage-backed securities (2) ​ 36,292 ​ ​ 4 ​ ​ (3,850) ​ ​ 32,446 Total available for sale ​ $ 219,429 ​ $ 56 ​ $ (23,024) ​ $ 196,461 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Municipal securities ​ $ 10,326 ​ $ — ​ $ (2,796) ​ $ 7,530 Agency securities ​ ​ 54,077 ​ ​ — ​ ​ (4,293) ​ ​ 49,784 Real estate mortgage investment conduits (1) ​ ​ 32,538 ​ ​ — ​ ​ (5,031) ​ ​ 27,507 Residential mortgage-backed securities (1) ​ ​ 115,213 ​ ​ — ​ ​ (16,831) ​ ​ 98,382 Other mortgage-backed securities (3) ​ ​ 20,505 ​ ​ — ​ ​ (3,233) ​ ​ 17,272 Total held to maturity ​ $ 232,659 ​ $ — ​ $ (32,184) ​ $ 200,475 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Estimated ​ ​ Cost ​ Gains ​ Losses ​ Fair Value March 31, 2023 ​ ​ ​ ​ Available for sale: ​ ​ ​ ​ Municipal securities ​ $ 47,857 ​ $ 16 ​ $ (7,612) ​ $ 40,261 Agency securities ​ 91,858 ​ ​ 23 ​ ​ (5,974) ​ ​ 85,907 Real estate mortgage investment conduits (1) ​ 34,247 ​ ​ — ​ ​ (5,370) ​ ​ 28,877 Residential mortgage-backed securities (1) ​ 16,512 ​ ​ — ​ ​ (1,041) ​ ​ 15,471 Other mortgage-backed securities (2) ​ 45,117 ​ ​ 4 ​ ​ (4,138) ​ ​ 40,983 Total available for sale ​ $ 235,591 ​ $ 43 ​ $ (24,135) ​ $ 211,499 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Municipal securities ​ $ 10,344 ​ $ — ​ $ (2,859) ​ $ 7,485 Agency securities ​ ​ 53,941 ​ ​ — ​ ​ (5,091) ​ ​ 48,850 Real estate mortgage investment conduits (1) ​ ​ 35,186 ​ ​ — ​ ​ (4,769) ​ ​ 30,417 Residential mortgage-backed securities (1) ​ ​ 123,773 ​ ​ — ​ ​ (17,542) ​ ​ 106,231 Other mortgage-backed securities (3) ​ ​ 20,599 ​ ​ — ​ ​ (3,368) ​ ​ 17,231 Total held to maturity ​ $ 243,843 ​ $ — ​ $ (33,629) ​ $ 210,214 ​ (1) Comprised of Federal Home Loan Mortgage Corporation (“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 and FHLMC. (3) Comprised of FHLMC and FNMA issued securities. The contractual maturities of investment securities as of December 31, 2023 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale ​ Held to Maturity ​ ​ ​ Estimated ​ ​ Estimated ​ ​ Amortized ​ Fair ​ Amortized ​ Fair ​ ​ Cost ​ Value ​ Cost ​ Value Due in one year or less ​ $ 19,327 ​ $ 19,198 ​ $ 5,950 ​ $ 5,789 Due after one year through five years ​ 81,420 ​ 76,498 ​ 42,356 ​ 39,510 Due after five years through ten years ​ 43,231 ​ 37,703 ​ 23,380 ​ 19,618 Due after ten years ​ 75,451 ​ 63,062 ​ 160,973 ​ 135,558 Total ​ $ 219,429 ​ $ 196,461 ​ $ 232,659 ​ $ 200,475 ​ 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 ​ ​ Estimated ​ ​ Estimated ​ ​ ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized December 31, 2023 ​ Value ​ Losses ​ Value ​ Losses ​ Value ​ Losses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for sale: ​ ​ ​ ​ ​ ​ Municipal securities ​ $ 448 ​ $ (1) ​ $ 37,463 ​ $ (7,460) ​ $ 37,911 ​ $ (7,461) Agency securities ​ 5,819 ​ (17) ​ 78,173 ​ (5,197) ​ 83,992 ​ (5,214) Real estate mortgage investment conduits (1) ​ — ​ — ​ 26,420 ​ (5,601) ​ 26,420 ​ (5,601) Residential mortgage-backed securities (1) ​ — ​ — ​ 12,872 ​ (898) ​ 12,872 ​ (898) Other mortgage-backed securities (2) ​ 846 ​ (2) ​ 31,260 ​ (3,848) ​ 32,106 ​ (3,850) Total available for sale ​ $ 7,113 ​ $ (20) ​ $ 186,188 ​ $ (23,004) ​ $ 193,301 ​ $ (23,024) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Municipal securities ​ $ — ​ $ — ​ $ 7,530 ​ $ (2,796) ​ $ 7,530 ​ $ (2,796) Agency securities ​ ​ — ​ ​ — ​ ​ 49,784 ​ ​ (4,293) ​ ​ 49,784 ​ ​ (4,293) Real estate mortgage investment conduits (1) ​ ​ — ​ ​ — ​ ​ 27,507 ​ ​ (5,031) ​ ​ 27,507 ​ ​ (5,031) Residential mortgage-backed securities (1) ​ ​ — ​ ​ — ​ ​ 98,382 ​ ​ (16,831) ​ ​ 98,382 ​ ​ (16,831) Other mortgage-backed securities (3) ​ ​ — ​ ​ — ​ ​ 17,272 ​ ​ (3,233) ​ ​ 17,272 ​ ​ (3,233) Total held to maturity ​ $ — ​ $ — ​ $ 200,475 ​ $ (32,184) ​ $ 200,475 ​ $ (32,184) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for sale: ​ ​ ​ ​ ​ ​ Municipal securities ​ $ 6,277 ​ $ (133) ​ $ 32,797 ​ $ (7,479) ​ $ 39,074 ​ $ (7,612) Agency securities ​ ​ 43,451 ​ (747) ​ 36,646 ​ (5,227) ​ 80,097 ​ (5,974) Real estate mortgage investment conduits (1) ​ 2,693 ​ (97) ​ 26,184 ​ (5,273) ​ 28,877 ​ (5,370) Residential mortgage-backed securities (1) ​ 3,449 ​ (147) ​ 12,022 ​ (894) ​ 15,471 ​ (1,041) Other mortgage-backed securities (2) ​ 13,876 ​ (376) ​ 26,619 ​ (3,762) ​ 40,495 ​ (4,138) Total available for sale ​ $ 69,746 ​ $ (1,500) ​ $ 134,268 ​ $ (22,635) ​ $ 204,014 ​ $ (24,135) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Municipal securities ​ $ — ​ $ — ​ $ 7,485 ​ $ (2,859) ​ $ 7,485 ​ $ (2,859) Agency securities ​ ​ 8,413 ​ ​ (240) ​ ​ 40,437 ​ ​ (4,851) ​ ​ 48,850 ​ ​ (5,091) Real estate mortgage investment conduits (1) ​ ​ 2,580 ​ ​ (191) ​ ​ 27,837 ​ ​ (4,578) ​ ​ 30,417 ​ ​ (4,769) Residential mortgage-backed securities (1) ​ ​ 2 ​ ​ — ​ ​ 106,229 ​ ​ (17,542) ​ ​ 106,231 ​ ​ (17,542) Other mortgage-backed securities (3) ​ ​ — ​ ​ — ​ ​ 17,231 ​ ​ (3,368) ​ ​ 17,231 ​ ​ (3,368) Total held to maturity ​ $ 10,995 ​ $ (431) ​ $ 199,219 ​ $ (33,198) ​ $ 210,214 ​ $ (33,629) ​ (1) Comprised of FHLMC, FNMA and GNMA issued securities. (2) Comprised of SBA and CRE secured securities issued by FHLMC and FNMA. (3) Comprised of FHLMC and FNMA issued securities. ​ Allowance for Credit Losses (“ACL”) on Available-for-Sale Debt Securities – 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. The Company has the ability and intent to hold the investments until the fair value recovers. Based on management’s evaluation and intent, the unrealized losses related to the investment securities in the above tables are considered temporary. ACL on Held to Maturity Debt Securities – The Company had no sales and realized no gains or losses on sales of investment securities for the nine months ended December 31, 2023 and 2022. Investment securities available for sale with an amortized cost of $2.8 million and $3.2 million and an estimated fair value of $2.5 million and $2.9 million at December 31, 2023 and March 31, 2023, respectively, were pledged as collateral for government public funds held by the Bank. Investment securities held to maturity with an amortized cost of $11.4 million and $12.3 million and a fair value of $9.6 million and $10.4 million at December 31, 2023 and March 31, 2023, respectively, were pledged as collateral for government public funds held by the Bank.

LOANS AND ALLOWANCE FOR CREDIT

LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS	9 Months Ended
	Dec. 31, 2023
LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS
LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS	6. LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS Loans receivable are reported net of deferred loan fees and discounts, and inclusive of premiums. Deferred loan fees totaled ­­­­$4.7 million and $4.4 million at December 31, 2023 and March 31, 2023, respectively. Loans receivable discounts and premiums totaled $1.3 million and $1.9 million, respectively, at December 31, 2023, compared to $1.4 million and $2.1 million, respectively, at March 31, 2023. Loans receivable, excluding loans held for sale, consisted of the following at the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, March 31, ​ ​ 2023 ​ 2023 Commercial and construction ​ ​ Commercial business ​ $ 229,249 ​ $ 232,868 Commercial real estate ​ 573,075 ​ ​ 564,496 Land ​ 8,690 ​ ​ 6,437 Multi-family ​ 67,017 ​ ​ 55,836 Real estate construction ​ 42,167 ​ ​ 47,762 Total commercial and construction ​ 920,198 ​ ​ 907,399 ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ Real estate one-to-four family ​ 96,266 ​ ​ 99,673 Other installment ​ 1,735 ​ ​ 1,784 Total consumer ​ 98,001 ​ ​ 101,457 ​ ​ ​ ​ ​ ​ ​ Total loans ​ 1,018,199 ​ ​ 1,008,856 ​ ​ ​ ​ ​ ​ ​ Less: ACL for loans (1) ​ 15,361 ​ ​ 15,309 Loans receivable, net ​ $ 1,002,838 ​ $ 993,547 ​ (1) All amounts prior to April 1, 2023 were calculated using the previous incurred loss methodology to compute our allowance for loan losses, which is not directly comparable to the current expected credit losses (“CECL”) methodology. ​ 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 December 31, 2023, loans carried at $617.9 million were pledged as collateral to the FHLB of Des Moines and Federal Reserve Bank of San Francisco (“FRB”) pursuant to borrowing agreements. Substantially all the Company’s business activity is with customers located in the states of Washington and Oregon. Loans and extensions of credit outstanding at one time to one borrower are generally limited by federal regulation to 15% of the Bank’s shareholders’ equity, excluding accumulated other comprehensive income (loss). As of December 31, 2023 and March 31, 2023, the Bank had no loans to any one borrower in excess of the regulatory limit. ​ Credit quality indicators ​ Pass ​ Watch ​ Special mention ​ Substandard ​ Doubtful ​ Loss ​ The following table sets forth the Company’s loan portfolio at December 31, 2023 by risk attribute and year of origination as well as current period gross charge-offs: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loans Amortized Cost Basis by Origination Fiscal Year ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ Loans ​ ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ Prior Loans ​ Receivable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial business ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 10,078 ​ $ 63,586 ​ $ 87,431 ​ $ 30,264 ​ $ 17,299 ​ $ 13,038 ​ $ 3,131 ​ $ 224,827 Special Mention ​ — ​ 251 ​ 773 ​ ​ — ​ ​ 552 ​ ​ 286 ​ ​ 2,497 ​ ​ 4,359 Substandard ​ — ​ — ​ — ​ ​ — ​ ​ — ​ ​ 63 ​ ​ — ​ ​ 63 Total commercial business ​ $ 10,078 ​ $ 63,837 ​ $ 88,204 ​ $ 30,264 ​ $ 17,851 ​ $ 13,387 ​ $ 5,628 ​ $ 229,249 Current YTD gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 24,867 ​ $ 60,034 ​ $ 148,293 ​ $ 90,346 ​ $ 53,902 ​ $ 163,891 ​ $ — ​ $ 541,333 Special Mention ​ — ​ 3,780 ​ 903 ​ ​ — ​ ​ — ​ ​ 26,975 ​ ​ — ​ ​ 31,658 Substandard ​ — ​ — ​ — ​ ​ — ​ ​ — ​ ​ 84 ​ ​ — ​ ​ 84 Total commercial real estate ​ $ 24,867 ​ $ 63,814 ​ $ 149,196 ​ $ 90,346 ​ $ 53,902 ​ $ 190,950 ​ $ — ​ $ 573,075 Current YTD gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 3,501 ​ $ 2,361 ​ $ 98 ​ $ 1,809 ​ $ 110 ​ $ 454 ​ $ — ​ $ 8,333 Special Mention ​ — ​ 357 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 357 Total land ​ $ 3,501 ​ $ 2,718 ​ $ 98 ​ $ 1,809 ​ $ 110 ​ $ 454 ​ $ — ​ $ 8,690 Current YTD gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multi-family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 684 ​ $ 17,150 ​ $ 32,221 ​ $ 5,066 ​ $ 8,965 ​ $ 2,834 ​ $ — ​ $ 66,920 Special Mention ​ — ​ — ​ — ​ ​ — ​ ​ 35 ​ ​ 32 ​ ​ — ​ ​ 67 Substandard ​ — ​ — ​ — ​ ​ — ​ ​ — ​ ​ 30 ​ ​ — ​ ​ 30 Total multi-family ​ $ 684 ​ $ 17,150 ​ $ 32,221 ​ $ 5,066 ​ $ 9,000 ​ $ 2,896 ​ $ — ​ $ 67,017 Current YTD gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loans Amortized Cost Basis by Origination Fiscal Year ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ Loans ​ ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ Prior Loans ​ Receivable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real estate construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 12,805 ​ $ 17,536 ​ $ 11,056 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 41,397 Special Mention ​ 770 ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 770 Total real estate construction ​ $ 13,575 ​ $ 17,536 ​ $ 11,056 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 42,167 Current YTD gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real estate one-to-four family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ — ​ $ — ​ $ 61,048 ​ $ 4,194 ​ $ 4,411 ​ $ 15,145 ​ $ 11,430 ​ $ 96,228 Substandard ​ — ​ — ​ — ​ ​ — ​ ​ — ​ ​ 38 ​ ​ — ​ ​ 38 Total real estate one-to-four family ​ $ — ​ $ — ​ $ 61,048 ​ $ 4,194 ​ $ 4,411 ​ $ 15,183 ​ $ 11,430 ​ $ 96,266 Current YTD gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ Other installment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 311 ​ $ 612 ​ $ 223 ​ $ 86 ​ $ 34 ​ $ 18 ​ $ 451 ​ $ 1,735 Total other installment ​ $ 311 ​ $ 612 ​ $ 223 ​ $ 86 ​ $ 34 ​ $ 18 ​ $ 451 ​ $ 1,735 Current YTD gross write-offs ​ $ — ​ $ 11 ​ $ — ​ $ — ​ $ — ​ $ 2 ​ $ — ​ $ 13 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total loans receivable, gross ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 52,246 ​ $ 161,279 ​ $ 340,370 ​ $ 131,765 ​ $ 84,721 ​ $ 195,380 ​ $ 15,012 ​ $ 980,773 Special Mention ​ 770 ​ 4,388 ​ 1,676 ​ ​ — ​ ​ 587 ​ ​ 27,293 ​ ​ 2,497 ​ ​ 37,211 Substandard ​ — ​ — ​ — ​ ​ — ​ ​ — ​ ​ 215 ​ ​ — ​ ​ 215 Total loans receivable, gross ​ $ 53,016 ​ $ 165,667 ​ $ 342,046 ​ $ 131,765 ​ $ 85,308 ​ $ 222,888 ​ $ 17,509 ​ $ 1,018,199 Total current YTD gross write-offs ​ $ — ​ $ 11 ​ $ — ​ $ — ​ $ — ​ $ 2 ​ $ — ​ $ 13 ​ ACL on Loans ​ The ACL for loans is an estimate of the expected credit losses on financial assets measured at amortized cost. The ACL for loans is evaluated and calculated on a collective basis for those loans which share similar risk characteristics and whether it needs to evaluate the allowance on an individual loan basis. The Company estimates the expected credit losses over the loans’ contractual terms, adjusted for expected prepayments. The ACL for loans is calculated for loan segments utilizing loan level information and relevant information from internal and external sources related to past events and current conditions. In addition, the Company incorporates a reasonable and supportable forecast. The individual 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. ​ When available information confirms that specific loans or portions thereof are uncollectible, identified amounts are charged against the allowance for credit losses. The existence of some or all of the following criteria will generally confirm that a loss has been incurred: the loan is significantly delinquent and the borrower has not demonstrated the ability or intent to bring the loan current; the Company has no recourse to the borrower, or if it does, the borrower has insufficient assets to pay the debt; and/or the estimated fair value of the loan collateral is significantly below the current loan balance, and there is little or no near-term prospect for improvement. ​ Management’s evaluation of the ACL for loans 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 ACL for loans and may require the Company to make additions to the ACL for loans based on their judgment about information available to them at the time of their examinations. ​ The following tables detail activity in the ACL for loans at or for the three and nine months ended December 31, 2023 under the CECL methodology, and in the allowance for loan losses under the incurred loss methodology for the three and nine months ended December 31, 2022, by loan category (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Commercial Commercial ​ ​ Multi- Real Estate ​ ​ ​ ​ ​ ​ December 31, 2023 ​ Business ​ Real Estate ​ Land ​ Family ​ Construction ​ Consumer ​ Unallocated ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 5,339 ​ $ 7,138 ​ $ 112 ​ $ 293 ​ $ 860 ​ $ 1,604 ​ $ — ​ $ 15,346 Provision for (recapture of) credit losses ​ (74) ​ ​ 141 ​ ​ 45 ​ ​ 41 ​ ​ (129) ​ ​ (24) ​ ​ — ​ ​ — Charge-offs ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (2) ​ ​ — ​ ​ (2) Recoveries ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 17 ​ ​ — ​ ​ 17 Ending balance ​ $ 5,265 ​ $ 7,279 ​ $ 157 ​ $ 334 ​ $ 731 ​ $ 1,595 ​ $ — ​ $ 15,361 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 3,123 ​ $ 8,894 ​ $ 93 ​ $ 798 ​ $ 764 ​ $ 1,127 ​ $ 510 ​ $ 15,309 Impact of adopting CECL (ASU 2016-13) ​ ​ 1,884 ​ ​ (1,494) ​ ​ 40 ​ ​ (492) ​ ​ 131 ​ ​ 483 ​ ​ (510) ​ ​ 42 Provision for (recapture of) credit losses ​ 258 ​ ​ (121) ​ ​ 24 ​ ​ 28 ​ ​ (164) ​ ​ (25) ​ ​ — ​ — Charge-offs ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (13) ​ ​ — ​ (13) Recoveries ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 23 ​ ​ — ​ 23 Ending balance ​ $ 5,265 ​ $ 7,279 ​ $ 157 ​ $ 334 ​ $ 731 ​ $ 1,595 ​ $ — ​ $ 15,361 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 2,789 ​ $ 8,230 ​ $ 124 ​ $ 856 ​ $ 638 ​ $ 1,225 ​ $ 690 ​ $ 14,552 Provision for (recapture of) loan losses ​ 101 ​ ​ (254) ​ ​ (26) ​ ​ (41) ​ ​ 206 ​ ​ (42) ​ ​ 56 ​ — Charge-offs ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ — Recoveries ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 6 ​ ​ — ​ 6 Ending balance ​ $ 2,890 ​ $ 7,976 ​ $ 98 ​ $ 815 ​ $ 844 ​ $ 1,189 ​ $ 746 ​ $ 14,558 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 2,422 ​ $ 9,037 ​ $ 168 ​ $ 845 ​ $ 393 ​ $ 943 ​ $ 715 ​ $ 14,523 Provision for (recapture of) loan losses ​ 468 ​ (1,061) ​ (70) ​ (30) ​ 451 ​ 211 ​ 31 ​ — Charge-offs ​ — ​ — ​ — ​ — ​ — ​ (16) ​ — ​ (16) Recoveries ​ — ​ — ​ — ​ — ​ — ​ 51 ​ — ​ 51 Ending balance ​ $ 2,890 ​ $ 7,976 ​ $ 98 ​ $ 815 ​ $ 844 ​ $ 1,189 ​ $ 746 ​ $ 14,558 ​ The following table presents an analysis of loans receivable and the allowance for loan losses, based on impairment methodology as of March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for Loan Losses ​ Recorded Investment in Loans ​ ​ Individually Collectively ​ ​ Individually Collectively ​ ​ ​ ​ Evaluated ​ Evaluated ​ ​ ​ ​ Evaluated ​ Evaluated ​ ​ ​ ​ ​ for ​ for ​ ​ ​ ​ for ​ for ​ ​ ​ March 31, 2023 ​ Impairment ​ Impairment ​ Total ​ Impairment ​ Impairment ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial business ​ $ — ​ $ 3,123 ​ $ 3,123 ​ $ 79 ​ $ 232,789 ​ $ 232,868 Commercial real estate ​ — ​ 8,894 ​ ​ 8,894 ​ ​ 100 ​ ​ 564,396 ​ ​ 564,496 Land ​ — ​ 93 ​ ​ 93 ​ ​ — ​ ​ 6,437 ​ ​ 6,437 Multi-family ​ — ​ 798 ​ ​ 798 ​ ​ — ​ ​ 55,836 ​ ​ 55,836 Real estate construction ​ — ​ 764 ​ ​ 764 ​ ​ — ​ ​ 47,762 ​ ​ 47,762 Consumer ​ 6 ​ 1,121 ​ ​ 1,127 ​ ​ 450 ​ ​ 101,007 ​ ​ 101,457 Unallocated ​ — ​ 510 ​ ​ 510 ​ ​ — ​ ​ — ​ ​ — Total ​ $ 6 ​ $ 15,303 ​ $ 15,309 ​ $ 629 ​ $ 1,008,227 ​ $ 1,008,856 ​ Non-accrual loans ​ The following tables present an analysis of loans by aging category at the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ Past ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ Due and ​ ​ ​ ​ Total ​ ​ 30-89 Days ​ Greater ​ ​ ​ ​ Non- ​ ​ ​ ​ Loans December 31, 2023 ​ Past Due ​ Past Due ​ Non-accrual ​ accrual ​ Current ​ Receivable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial business ​ $ 3,896 ​ $ — ​ $ 63 ​ $ 3,959 ​ $ 225,290 ​ $ 229,249 Commercial real estate ​ 821 ​ — ​ 85 ​ ​ 906 ​ ​ 572,169 ​ ​ 573,075 Land ​ — ​ — ​ — ​ ​ — ​ ​ 8,690 ​ ​ 8,690 Multi-family ​ — ​ — ​ — ​ ​ — ​ ​ 67,017 ​ ​ 67,017 Real estate construction ​ — ​ — ​ — ​ ​ — ​ ​ 42,167 ​ ​ 42,167 Consumer ​ 13 ​ — ​ 38 ​ ​ 51 ​ ​ 97,950 ​ ​ 98,001 Total ​ $ 4,730 ​ $ — ​ $ 186 ​ $ 4,916 ​ $ 1,013,283 ​ $ 1,018,199 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial business ​ $ 1,967 ​ $ 1,569 ​ $ 97 ​ $ 3,633 ​ $ 229,235 ​ $ 232,868 Commercial real estate ​ — ​ — ​ 100 ​ ​ 100 ​ ​ 564,396 ​ ​ 564,496 Land ​ — ​ — ​ — ​ ​ — ​ ​ 6,437 ​ ​ 6,437 Multi-family ​ — ​ — ​ — ​ ​ — ​ ​ 55,836 ​ ​ 55,836 Real estate construction ​ — ​ — ​ — ​ ​ — ​ ​ 47,762 ​ ​ 47,762 Consumer ​ 11 ​ — ​ 86 ​ ​ 97 ​ ​ 101,360 ​ ​ 101,457 Total ​ $ 1,978 ​ $ 1,569 ​ $ 283 ​ $ 3,830 ​ $ 1,005,026 ​ $ 1,008,856 ​ Included in the 30-89 days past due loans at December 31, 2023 are $1.4 million of fully guaranteed SBA or United States Department of Agriculture (“USDA”) loans. These government guaranteed loans are classified as pass rated loans and are not considered to be either nonaccrual, classified or impaired loans because based on the guarantee, the Company expects to receive all principal and interest according to the contractual terms of the loan agreement and there are no well-defined weaknesses or risk of loss. As a result, these loans were omitted from the required calculation of the ACL for loans. Interest income foregone on non-accrual loans was $8,000 and $14,000 for the nine months ended December 31, 2023 and the year ended March 31, 2023, respectively. For additional information, see Management’s Discussion and Analysis of Financial Condition and Results of Operations – Comparison of Financial Condition at December 31, 2023 and March 31, 2023 – Asset Quality, discussed below. ​ The following table presents an analysis of loans by credit quality indicators as of March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans March 31, 2023 ​ Pass ​ Mention ​ Substandard ​ Doubtful ​ Loss ​ Receivable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial business ​ $ 231,384 ​ $ 1,367 ​ $ 117 ​ $ — ​ $ — ​ $ 232,868 Commercial real estate ​ 544,426 ​ ​ 17,626 ​ ​ 2,444 ​ — ​ — ​ 564,496 Land ​ 6,437 ​ ​ — ​ ​ — ​ — ​ — ​ 6,437 Multi-family ​ 55,694 ​ ​ 142 ​ ​ — ​ — ​ — ​ 55,836 Real estate construction ​ 47,762 ​ ​ — ​ ​ — ​ — ​ — ​ 47,762 Consumer ​ 101,371 ​ ​ — ​ ​ 86 ​ — ​ — ​ 101,457 Total ​ $ 987,074 ​ $ 19,135 ​ $ 2,647 ​ $ — ​ $ — ​ $ 1,008,856 ​ Impaired loans and Allowance for Loan Losses: ​ At December 31, 2023, the Company had $148,000 of non-accrual loans with no ACL and $38,000 of non-accrual loans with an ACL of $1,000. The amortized cost of collateral dependent loans as of December 31, 2023, were $63,000 and $85,000 for commercial business and commercial real estate, respectively. ​ The following tables present the total and average recorded investment in impaired loans at the dates and for the periods indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded Recorded ​ ​ ​ ​ ​ ​ ​ ​ Investment ​ Investment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ with ​ with ​ ​ ​ ​ ​ ​ ​ Related ​ ​ No Specific ​ Specific ​ Total ​ Unpaid ​ Specific March 31, 2023 ​ Valuation ​ Valuation ​ Recorded ​ Principal ​ Valuation ​ ​ Allowance ​ Allowance ​ Investment ​ Balance ​ Allowance Commercial business ​ $ 79 ​ $ — ​ $ 79 ​ $ 127 ​ $ — Commercial real estate ​ 100 ​ ​ — ​ ​ 100 ​ ​ 162 ​ — Consumer ​ 355 ​ ​ 95 ​ ​ 450 ​ ​ 442 ​ 6 Total ​ $ 534 ​ $ 95 ​ $ 629 ​ $ 731 ​ $ 6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ December 31, 2022 ​ December 31, 2022 ​ ​ ​ Interest ​ ​ Interest ​ ​ ​ ​ ​ Recognized ​ ​ ​ ​ Recognized ​ ​ Average ​ on ​ Average ​ on ​ ​ Recorded ​ Impaired ​ Recorded ​ Impaired ​ ​ Investment Loans ​ Investment Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial business ​ $ 87 ​ $ — ​ $ 92 ​ $ — Commercial real estate ​ 109 ​ ​ — ​ ​ 114 ​ ​ — Consumer ​ 471 ​ ​ 5 ​ ​ 481 ​ ​ 17 Total ​ $ 667 ​ $ 5 ​ $ 687 ​ $ 17 ​ The cash basis interest income on impaired loans was not materially different than the interest recognized on impaired loans as shown in the above table. ​ Troubled debt restructurings (“TDRs”): ​ 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 nine months or more that have not received at least 75% of their required monthly payment in the last 90 days are charged-off. In addition, loans discharged in bankruptcy proceedings are charged-off. Loans under bankruptcy protection with no payments received for four consecutive months are charged-off. The outstanding balance of a secured loan that is in excess of the net realizable value is generally charged-off if no payments are received for four to five consecutive months. However, charge-offs are postponed if alternative proposals to restructure, obtain additional guarantors, obtain additional assets as collateral or a potential sale of the underlying collateral would result in full repayment of the outstanding loan balance. Once any other potential sources of repayment are exhausted, the impaired portion of the loan is charged-off. Regardless of whether a loan is unsecured or collateralized, once an amount is determined to be a confirmed loan loss it is promptly charged off.

GOODWILL

GOODWILL	9 Months Ended
	Dec. 31, 2023
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 the Company’s goodwill has been allocated to the Bank reporting unit. The Company performed an impairment assessment as of October 31, 2023 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. The Company completed a qualitative assessment of goodwill as of December 31, 2023, and concluded that it is more likely than not that the fair value of the Bank (the reporting unit), exceeds its carrying value at that date.

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES	9 Months Ended
	Dec. 31, 2023
FEDERAL HOME LOAN BANK ADVANCES
FEDERAL HOME LOAN BANK ADVANCES	8. FEDERAL HOME LOAN BANK ADVANCES FHLB advances are summarized at the dates indicated (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 March 31, 2023 FHLB advances ​ $ 157,054 ​ $ 123,754 ​ Weighted average interest rate on FHLB advances (1) ​ 5.37 % 4.88 % ​ (1) Computed based on the borrowing activity for the nine months ended December 31, 2023 and the fiscal year ended March 31, 2023, respectively. ​ The Bank has a credit line with the FHLB equal to 45% of total assets, limited by available collateral. At December 31, 2023, based on collateral values, the Bank had additional borrowing capacity of $137.8 million from the FHLB. FHLB advances are collateralized with loans secured by real estate. At December 31, 2023, loans carried at $492.7 million were pledged as collateral to the FHLB.

JUNIOR SUBORDINATED DEBENTURES

JUNIOR SUBORDINATED DEBENTURES	9 Months Ended
	Dec. 31, 2023
JUNIOR SUBORDINATED DEBENTURES
JUNIOR SUBORDINATED DEBENTURES	9. 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, which totaled $27.0 million and $26.9 million at December 31, 2023 and March 31, 2023, 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 December 31, 2023 and March 31, 2023, 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 December 31, 2023 (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 % 7.01 % 3/2036 Riverview Bancorp Statutory Trust II 06/2007 ​ 15,464 Variable (2) 7.03 % 7.00 % 9/2037 Merchants Bancorp Statutory Trust I (4) 06/2003 ​ 5,155 Variable (3) 4.16 % 8.72 % 6/2033 ​ ​ ​ ​ 27,836 ​ ​ ​ ​ ​ ​ ​ ​ Fair value adjustment (4) ​ ​ ​ (854) Total Debentures ​ ​ ​ $ 26,982 ​ (1) The trust preferred securities reprice quarterly based on the three-month Chicago Mercantile Exchange (“CME”) Term SOFR plus 1.36% . (2) The trust preferred securities reprice quarterly based on the three-month CME Term SOFR plus 1.35% . (3) The trust preferred securities reprice quarterly based on the three-month CME Term SOFR plus 3.10% . (4) Amount, net of accretion, attributable to a prior year’s business combination .

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Dec. 31, 2023
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	10. 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) Other observable inputs (Level 2) Significant unobservable inputs (Level 3) 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Estimated ​ Estimated Fair Value Measurements Using December 31, 2023 Fair Value Level 1 Level 2 Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment securities available for sale: ​ ​ ​ ​ Municipal securities ​ $ 40,307 ​ $ — ​ $ 40,307 ​ $ — Agency securities ​ 83,992 ​ — ​ 83,992 ​ — Real estate mortgage investment conduits ​ 26,420 ​ — ​ 26,420 ​ — Residential mortgage-backed securities ​ 13,296 ​ — ​ 13,296 ​ — Other mortgage-backed securities ​ 32,446 ​ — ​ 32,446 ​ — Total assets measured at fair value on a recurring basis ​ $ 196,461 ​ $ — ​ $ 196,461 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Estimated Estimated Fair Value Measurements Using March 31, 2023 Fair Value Level 1 Level 2 Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment securities available for sale: ​ ​ ​ ​ Municipal securities ​ $ 40,261 ​ $ — ​ $ 40,261 ​ $ — Agency securities ​ 85,907 ​ — ​ 85,907 ​ — Real estate mortgage investment conduits ​ 28,877 ​ — ​ 28,877 ​ — Residential mortgage-backed securities ​ 15,471 ​ — ​ 15,471 ​ — Other mortgage-backed securities ​ 40,983 ​ — ​ 40,983 ​ — Total assets measured at fair value on a recurring basis ​ $ 211,499 ​ $ — ​ $ 211,499 ​ $ — ​ There were no transfers of assets into or out of Levels 1, 2 or 3 for both the nine months ended December 31, 2023 and the year ended March 31, 2023. The following methods were used to estimate the fair value of financial instruments above: 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 March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ Estimated Fair Value ​ ​ Estimated ​ Measurements Using March 31, 2023 ​ Fair Value Level 1 Level 2 Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans ​ $ 89 ​ $ — ​ $ — ​ $ 89 ​ The following table presents quantitative information about Level 3 inputs for financial instruments measured at fair value on a nonrecurring basis at March 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation Significant Unobservable ​ March 31, 2023 ​ Technique ​ Inputs ​ Range ​ ​ ​ ​ ​ ​ ​ Impaired loans Appraised Adjustment for market conditions N/A (1) ​ ​ Discounted cash flows ​ Discount rate ​ 5.375% (1) There were no adjustments to appraised values of impaired loans as of March 31, 2023. For information regarding the Company’s method for estimating the fair value of impaired loans, see “Note 6 – Loans and Allowance for Credit 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 amount and estimated fair value of financial instruments is as follows at the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated December 31, 2023 ​ Amount Level 1 ​ Level 2 ​ Level 3 Fair Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 37,553 ​ $ 37,553 ​ $ — ​ $ — ​ $ 37,553 Investment securities available for sale ​ 196,461 ​ — ​ 196,461 ​ — ​ 196,461 Investment securities held to maturity ​ 232,659 ​ — ​ 200,475 ​ — ​ 200,475 Loans receivable, net ​ 1,002,838 ​ — ​ — ​ 940,461 ​ 940,461 FHLB stock ​ 8,026 ​ — ​ 8,026 ​ — ​ 8,026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Certificates of deposit ​ 170,491 ​ — ​ 168,101 ​ — ​ 168,101 FHLB advances ​ 157,054 ​ — ​ 156,960 ​ — ​ 156,960 Junior subordinated debentures ​ 26,982 ​ — ​ — ​ 18,989 ​ 18,989 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated March 31, 2023 ​ Amount ​ Level 1 ​ Level 2 ​ Level 3 ​ Fair Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 22,044 ​ $ 22,044 ​ $ — ​ $ — ​ $ 22,044 Certificates of deposit held for investment ​ 249 ​ — ​ 248 ​ — ​ 248 Investment securities available for sale ​ 211,499 ​ — ​ 211,499 ​ — ​ 211,499 Investment securities held to maturity ​ 243,843 ​ — ​ 210,214 ​ — ​ 210,214 Loans receivable, net ​ 993,547 ​ — ​ — ​ 931,784 ​ 931,784 FHLB stock ​ 6,867 ​ — ​ 6,867 ​ — ​ 6,867 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Certificates of deposit ​ 128,833 ​ — ​ 126,072 ​ — ​ 126,072 FHLB advances ​ ​ 123,754 ​ — ​ 123,679 ​ — ​ 123,679 Junior subordinated debentures ​ 26,918 ​ — ​ — ​ 17,698 ​ 17,698 ​ 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.

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Dec. 31, 2023
NEW ACCOUNTING PRONOUNCEMENTS
NEW ACCOUNTING PRONOUNCEMENTS	11. NEW ACCOUNTING PRONOUNCEMENTS Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326) expected credit losses will be based on historical information, current conditions, and reasonable and supportable forecasts that impact the collectability of the reported amount. Available-for-sale securities will bifurcate the fair value mark and establish an ACL for available-for-sale securities through the income statement for the credit portion of that mark. The adoption of CECL had an insignificant impact on the Company’s held to maturity and available for sale securities portfolios. The interest portion will continue to be recognized through accumulated other comprehensive income or loss. The change in the ACL recognized as a result of adoption will occur through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the ASU is adopted. This ASU is effective for smaller reporting companies, such as the Company, for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. ASU 2019-05 issued in April 2019 further provides that entities that have certain financial instruments measured at amortized cost that has credit losses, to irrevocably elect the fair value option in Subtopic 825-10, upon adoption of ASU 2016-13. The fair value option applies to available-for-sale debt securities. This ASU is effective upon adoption of ASU 2016-13, and should be applied on a modified-retrospective basis as a cumulative-effect adjustment to the opening balance of retained earnings in the statement of financial condition as of the adoption date. On April 1, 2023, the Company adopted ASU 2016-13, which resulted in a net of tax charge of $53,000 to retained earnings, a $42,000 increase to ACL for loans, and a $28,000 increase to ACL for credit losses on unfunded commitments for the cumulative effect of adopting this guidance. In March 2022, the FASB issued ASU 2022-02, Financial Instruments – Credit Losses (Topic 326)

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	9 Months Ended
	Dec. 31, 2023
REVENUE FROM CONTRACTS WITH CUSTOMERS
REVENUE FROM CONTRACTS WITH CUSTOMERS	12. 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 the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized in non-interest income except for gains on sales of REO and premises and equipment, 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, except for 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 monthly, 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. For the nine months ended December 31, 2023 and 2022, substantially all the Company’s revenues within the scope of ASC 606 are for performance obligations satisfied at a point in time. Disaggregation of Revenue The following table includes the Company’s non-interest income, net disaggregated by type of service for the periods shown (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ December 31, ​ December 31, ​ 2023 2022 2023 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset management fees ​ $ 1,266 ​ $ 1,137 ​ $ 3,920 ​ $ 3,459 Debit card and ATM fees ​ 808 ​ 803 ​ 2,500 ​ 2,598 Deposit related fees ​ 465 ​ 427 ​ 1,374 ​ 1,304 Loan related fees ​ 99 ​ 99 ​ 471 ​ 422 BOLI (1) ​ 211 ​ 194 ​ 669 ​ 626 FHLMC loan servicing fees (1) ​ 21 ​ 13 ​ 64 ​ 55 Other, net ​ 186 ​ 290 ​ 750 ​ 759 Total non-interest income, net ​ $ 3,056 ​ $ 2,963 ​ $ 9,748 ​ $ 9,223 ​ (1) Not within scope of ASC 606 Revenues recognized within scope of ASC 606 Asset management fees Debit card and ATM fees Deposit related fees Loan related fees Other Contract Balances As of December 31, 2023, 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 December 31, 2023 and 2022.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2023
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	13. COMMITMENTS AND CONTINGENCIES Off-balance sheet arrangements commitments to originate mortgage, commercial and consumer loans, and 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 at December 31, 2023 are listed below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contract or Notional ​ ​ Amount ​ ​ December 31, ​ 2023 Commitments to extend credit: ​ Adjustable-rate ​ $ 9,837 Fixed-rate ​ 52 Standby letters of credit ​ 1,600 Undisbursed loan funds and unused lines of credit ​ 161,703 Total ​ $ 173,192 ​ Other contractual obligations – The Bank is a public depository and, accordingly, accepts deposit and other public funds belonging to, or held for the benefit of, Washington and Oregon states, political subdivisions thereof, and municipal corporations. In accordance with applicable state law, in the event of default of a participating bank, all other participating banks in the state collectively assure that no loss of funds are suffered by any public depositor. Generally, in the event of default by a public depository, the assessment attributable to all public depositories is allocated on a pro rata basis in proportion to the maximum liability of each depository as it existed on the date of loss. The Company did not incur any losses related to public depository funds for the nine months ended December 31, 2023 and 2022. The Bank has entered into employment contracts with certain key employees, which provide for contingent payments subject to future events. Litigation The Company is currently involved in a lawsuit for which certain parties participated in a mediation in May 2023 and a stay of proceedings is in place to allow for continued settlement efforts. Based on the most recent information available, management has concluded that a loss is not probable at this time and the amount of any potential loss cannot be reasonably estimated. Accordingly, no accrual has been established. Any estimate or determination relating to the future resolution of legal matters is uncertain and involves significant judgment. We usually are unable to determine whether a favorable or unfavorable outcome is remote, reasonably likely, or probable, or to estimate the amount or range of a probable or reasonably likely loss, until relatively late in the process. Although there can be no assurance as to the ultimate outcome of a specific legal matter, we believe we have meritorious defenses to the claims asserted against us in the current outstanding legal matter, and we intend to continue to vigorously defend ourselves. It is possible that the ultimate resolution of a matter, if unfavorable, may be material to the Company’s results of operations for any particular period .

LEASES

LEASES	9 Months Ended
	Dec. 31, 2023
LEASES
LEASES	14. 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 each operating lease with an initial term of more than 12 months, the Company records an operating lease right-of-use (“ROU”) 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). Operating lease ROU assets and operating 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 ROU assets and operating lease liabilities. The table below presents the ROU assets and lease liabilities recorded in the consolidated balance sheets at the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, Classification in the Leases 2023 2023 consolidated balance sheets Finance lease ROU assets ​ $ 1,221 $ 1,278 Financing lease ROU assets Finance lease liability ​ $ 2,184 $ 2,229 Finance lease liability Finance lease remaining lease term ​ 15.93 years 16.68 years ​ Finance lease discount rate ​ 7.16 % 7.16 % ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease ROU assets ​ $ 5,788 $ 6,705 Prepaid expenses and other assets Operating lease liabilities ​ $ 6,105 $ 7,064 Accrued expenses and other liabilities Operating lease weighted-average remaining lease term ​ 5.53 years 6.15 years ​ Operating lease weighted-average discount rate ​ 1.75 % 1.78 % ​ 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 at the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Three months ended Lease Costs December 31, 2023 December 31, 2022 Finance lease amortization of right-of-use asset ​ $ 20 ​ $ 20 Finance lease interest on lease liability ​ 39 ​ 41 Operating lease costs ​ 283 ​ 283 Variable lease costs ​ 53 ​ 52 Total lease cost (1) ​ $ 395 ​ $ 396 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ Nine months ended Lease Costs December 31, 2023 December 31, 2022 Finance lease amortization of ROU asset ​ $ 58 ​ $ 58 Finance lease interest on lease liability ​ 119 ​ 122 Operating lease costs ​ 849 ​ 849 Variable lease costs ​ 157 ​ 157 Total lease cost (1) ​ $ 1,183 ​ $ 1,186 ​ (1) Income related to sub-lease activity is not significant and not presented herein. ​ Supplemental cash flow information - The following table reconciles the undiscounted cash flows for the periods presented related to the Company’s lease liabilities as of December 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ending March 31: Operating Finance ​ ​ Leases ​ Lease Remainder of Fiscal 2024 ​ $ 345 ​ $ 56 2025 ​ 1,375 ​ 222 2026 ​ 1,125 ​ 226 2027 ​ 1,116 ​ 230 2028 ​ 899 ​ 232 Thereafter ​ 1,631 ​ 2,711 Total minimum lease payments ​ 6,491 ​ 3,677 Less: amount of lease payments representing interest ​ (386) ​ (1,493) Lease liabilities ​ $ 6,105 ​ $ 2,184 ​

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Dec. 31, 2023
BASIS OF PRESENTATION
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Quarterly Reports on Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of financial condition, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America (“generally accepted accounting principles” or “GAAP”). However, all adjustments that are, in the opinion of management, necessary for a fair presentation of the interim unaudited consolidated financial statements have been included. All such adjustments are of a normal recurring nature. ​ The accompanying unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Riverview Bancorp, Inc. Annual Report on Form 10-K for the year ended March 31, 2023 (“2023 Form 10-K”). The unaudited consolidated results of operations for the nine months ended December 31, 2023 are not necessarily indicative of the results which may be expected for the entire fiscal year ending March 31, 2024. ​ The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. ​ 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.
PRINCIPLES OF CONSOLIDATION	The accompanying consolidated financial statements include the accounts of Riverview Bancorp, Inc.; its wholly-owned subsidiary, Riverview Bank (the “Bank”); and the Bank’s wholly-owned subsidiaries, Riverview Services, Inc. and Riverview Trust Company (the “Trust Company”) (collectively referred to as the “Company”). All inter-company transactions and balances have been eliminated in consolidation. ​ 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. In both October 2020 and May 2021, the Trust Company issued an additional 500 shares of Trust Company stock upon the exercise of options for 500 shares of Trust Company common stock by the Trust Company’s President and Chief Executive Officer. In August 2022, the Trust Company repurchased all the outstanding shares held by its noncontrolling interest owner. Upon repurchase, these shares were retired. This transaction resulted in the Bank’s ownership increasing from 97.3% to 100%. The book value of the noncontrolling interest was $234,000 prior to the share repurchase. These amounts were insignificant and are not presented separately in the accompanying consolidated financial statements. ​
NEW ACCOUNTING PRONOUNCEMENTS	Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326) expected credit losses will be based on historical information, current conditions, and reasonable and supportable forecasts that impact the collectability of the reported amount. Available-for-sale securities will bifurcate the fair value mark and establish an ACL for available-for-sale securities through the income statement for the credit portion of that mark. The adoption of CECL had an insignificant impact on the Company’s held to maturity and available for sale securities portfolios. The interest portion will continue to be recognized through accumulated other comprehensive income or loss. The change in the ACL recognized as a result of adoption will occur through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the ASU is adopted. This ASU is effective for smaller reporting companies, such as the Company, for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. ASU 2019-05 issued in April 2019 further provides that entities that have certain financial instruments measured at amortized cost that has credit losses, to irrevocably elect the fair value option in Subtopic 825-10, upon adoption of ASU 2016-13. The fair value option applies to available-for-sale debt securities. This ASU is effective upon adoption of ASU 2016-13, and should be applied on a modified-retrospective basis as a cumulative-effect adjustment to the opening balance of retained earnings in the statement of financial condition as of the adoption date. On April 1, 2023, the Company adopted ASU 2016-13, which resulted in a net of tax charge of $53,000 to retained earnings, a $42,000 increase to ACL for loans, and a $28,000 increase to ACL for credit losses on unfunded commitments for the cumulative effect of adopting this guidance. In March 2022, the FASB issued ASU 2022-02, Financial Instruments – Credit Losses (Topic 326)

STOCK PLANS AND STOCK-BASED C_2

STOCK PLANS AND STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 2023
STOCK PLANS AND STOCK-BASED COMPENSATION
Schedule of activity related to stock options under the Stock Option Plans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended December 31, ​ Nine Months Ended December 31, ​ ​ 2023 ​ 2022 ​ ​ Weighted ​ Weighted ​ ​ ​ ​ Average ​ ​ ​ Average ​ ​ ​ Number of ​ Exercise ​ Number of ​ Exercise ​ ​ Shares Price Shares Price Balance, beginning of period 14,310 ​ $ 2.78 17,332 ​ $ 2.78 Options exercised (12,799) ​ 2.78 (1,511) ​ 2.78 Options expired (1,511) ​ 2.78 (1,511) ​ 2.78 Balance, end of period — ​ $ — 14,310 ​ $ 2.78
Schedule of information on stock options outstanding under the Stock Option Plans	​ ​ ​ ​ ​ ​ 2022 ​ Stock options fully vested and expected to vest: ​ ​ Number ​ 14,310 ​ Weighted average exercise price $ 2.78 ​ Aggregate intrinsic value (1) $ 70,000 ​ Weighted average contractual term of options (years) 0.54 ​ Stock options fully vested and currently exercisable: ​ ​ Number 14,310 ​ Weighted average exercise price $ 2.78 ​ Aggregate intrinsic value (1) $ 70,000 ​ Weighted average contractual term of options (years) 0.54 ​ ​ (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	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time Based Performance Based Total ​ ​ Number ​ Weighted ​ Number ​ Weighted ​ Number ​ Weighted ​ ​ of ​ Average ​ of ​ Average ​ of ​ Average ​ ​ Unvested ​ Grant Date ​ Unvested ​ Grant Date ​ Unvested ​ Grant Date Nine Months Ended December 31, 2023 Shares Fair Value Shares Fair Value Shares Fair Value Balance, beginning of period 29,977 ​ $ 6.14 132,645 ​ $ 6.05 162,622 ​ $ 6.07 Granted 19,926 ​ 5.21 84,040 ​ 5.21 103,966 ​ 5.21 Forfeited (19,006) ​ 5.81 (99,514) ​ 5.94 (118,520) ​ 5.92 Vested (15,118) ​ 5.77 (53,774) ​ 5.38 (68,892) ​ 5.47 Balance, end of period 15,779 ​ $ 5.72 63,397 ​ $ 5.68 79,176 ​ $ 5.69 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time Based Performance Based Total ​ ​ Number ​ Weighted ​ Number ​ Weighted ​ Number ​ Weighted ​ ​ of ​ Average ​ of ​ Average ​ of ​ Average ​ ​ Unvested ​ Grant Date ​ Unvested ​ Grant Date ​ Unvested ​ Grant Date Nine Months Ended December 31, 2022 Shares Fair Value Shares Fair Value Shares Fair Value Balance, beginning of period 26,855 ​ $ 6.02 121,492 ​ $ 5.70 148,347 ​ $ 5.76 Granted 15,571 ​ 6.30 56,125 ​ 6.30 71,696 ​ 6.30 Forfeited — ​ — (2,977) ​ 7.56 (2,977) ​ 7.56 Vested (12,449) ​ 6.07 (41,995) ​ 5.26 (54,444) ​ 5.45 Balance, end of period 29,977 ​ $ 6.14 132,645 ​ $ 6.05 162,622 ​ $ 6.07 ​

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Dec. 31, 2023
EARNINGS PER SHARE
Schedule of basic and diluted earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended December 31, Nine Months Ended December 31, ​ 2023 2022 2023 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic EPS computation: ​ ​ ​ ​ Numerator-net income ​ $ 1,452,000 ​ $ 5,240,000 ​ $ 6,767,000 ​ $ 15,086,000 Denominator-weighted average common shares outstanding ​ 21,113,464 ​ 21,504,903 ​ 21,146,888 ​ 21,717,959 Basic EPS ​ $ 0.07 ​ $ 0.24 ​ $ 0.32 ​ $ 0.69 Diluted EPS computation: ​ ​ ​ ​ Numerator-net income ​ $ 1,452,000 ​ $ 5,240,000 ​ $ 6,767,000 ​ $ 15,086,000 Denominator-weighted average common shares outstanding ​ 21,113,464 ​ 21,504,903 ​ 21,146,888 ​ 21,717,959 Effect of dilutive stock options ​ — ​ 8,714 ​ 1,791 ​ 8,593 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares and common stock equivalents ​ 21,113,464 ​ 21,513,617 ​ 21,148,679 ​ 21,726,552 Diluted EPS ​ $ 0.07 ​ $ 0.24 ​ $ 0.32 ​ $ 0.69 ​

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	9 Months Ended
	Dec. 31, 2023
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross Estimated ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ ​ Cost ​ Gains ​ Losses ​ Value December 31, 2023 ​ ​ ​ ​ Available for sale: ​ ​ ​ ​ ​ Municipal securities ​ $ 47,719 ​ $ 49 ​ $ (7,461) ​ $ 40,307 Agency securities ​ 89,206 ​ ​ — ​ ​ (5,214) ​ ​ 83,992 Real estate mortgage investment conduits (1) ​ 32,021 ​ ​ — ​ ​ (5,601) ​ ​ 26,420 Residential mortgage-backed securities (1) ​ 14,191 ​ ​ 3 ​ ​ (898) ​ ​ 13,296 Other mortgage-backed securities (2) ​ 36,292 ​ ​ 4 ​ ​ (3,850) ​ ​ 32,446 Total available for sale ​ $ 219,429 ​ $ 56 ​ $ (23,024) ​ $ 196,461 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Municipal securities ​ $ 10,326 ​ $ — ​ $ (2,796) ​ $ 7,530 Agency securities ​ ​ 54,077 ​ ​ — ​ ​ (4,293) ​ ​ 49,784 Real estate mortgage investment conduits (1) ​ ​ 32,538 ​ ​ — ​ ​ (5,031) ​ ​ 27,507 Residential mortgage-backed securities (1) ​ ​ 115,213 ​ ​ — ​ ​ (16,831) ​ ​ 98,382 Other mortgage-backed securities (3) ​ ​ 20,505 ​ ​ — ​ ​ (3,233) ​ ​ 17,272 Total held to maturity ​ $ 232,659 ​ $ — ​ $ (32,184) ​ $ 200,475 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Estimated ​ ​ Cost ​ Gains ​ Losses ​ Fair Value March 31, 2023 ​ ​ ​ ​ Available for sale: ​ ​ ​ ​ Municipal securities ​ $ 47,857 ​ $ 16 ​ $ (7,612) ​ $ 40,261 Agency securities ​ 91,858 ​ ​ 23 ​ ​ (5,974) ​ ​ 85,907 Real estate mortgage investment conduits (1) ​ 34,247 ​ ​ — ​ ​ (5,370) ​ ​ 28,877 Residential mortgage-backed securities (1) ​ 16,512 ​ ​ — ​ ​ (1,041) ​ ​ 15,471 Other mortgage-backed securities (2) ​ 45,117 ​ ​ 4 ​ ​ (4,138) ​ ​ 40,983 Total available for sale ​ $ 235,591 ​ $ 43 ​ $ (24,135) ​ $ 211,499 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Municipal securities ​ $ 10,344 ​ $ — ​ $ (2,859) ​ $ 7,485 Agency securities ​ ​ 53,941 ​ ​ — ​ ​ (5,091) ​ ​ 48,850 Real estate mortgage investment conduits (1) ​ ​ 35,186 ​ ​ — ​ ​ (4,769) ​ ​ 30,417 Residential mortgage-backed securities (1) ​ ​ 123,773 ​ ​ — ​ ​ (17,542) ​ ​ 106,231 Other mortgage-backed securities (3) ​ ​ 20,599 ​ ​ — ​ ​ (3,368) ​ ​ 17,231 Total held to maturity ​ $ 243,843 ​ $ — ​ $ (33,629) ​ $ 210,214 ​ (1) Comprised of Federal Home Loan Mortgage Corporation (“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 and FHLMC. (3) Comprised of FHLMC and FNMA issued securities.
Schedule of contractual maturities of investment securities	The contractual maturities of investment securities as of December 31, 2023 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale ​ Held to Maturity ​ ​ ​ Estimated ​ ​ Estimated ​ ​ Amortized ​ Fair ​ Amortized ​ Fair ​ ​ Cost ​ Value ​ Cost ​ Value Due in one year or less ​ $ 19,327 ​ $ 19,198 ​ $ 5,950 ​ $ 5,789 Due after one year through five years ​ 81,420 ​ 76,498 ​ 42,356 ​ 39,510 Due after five years through ten years ​ 43,231 ​ 37,703 ​ 23,380 ​ 19,618 Due after ten years ​ 75,451 ​ 63,062 ​ 160,973 ​ 135,558 Total ​ $ 219,429 ​ $ 196,461 ​ $ 232,659 ​ $ 200,475
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 ​ ​ Estimated ​ ​ Estimated ​ ​ ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized December 31, 2023 ​ Value ​ Losses ​ Value ​ Losses ​ Value ​ Losses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for sale: ​ ​ ​ ​ ​ ​ Municipal securities ​ $ 448 ​ $ (1) ​ $ 37,463 ​ $ (7,460) ​ $ 37,911 ​ $ (7,461) Agency securities ​ 5,819 ​ (17) ​ 78,173 ​ (5,197) ​ 83,992 ​ (5,214) Real estate mortgage investment conduits (1) ​ — ​ — ​ 26,420 ​ (5,601) ​ 26,420 ​ (5,601) Residential mortgage-backed securities (1) ​ — ​ — ​ 12,872 ​ (898) ​ 12,872 ​ (898) Other mortgage-backed securities (2) ​ 846 ​ (2) ​ 31,260 ​ (3,848) ​ 32,106 ​ (3,850) Total available for sale ​ $ 7,113 ​ $ (20) ​ $ 186,188 ​ $ (23,004) ​ $ 193,301 ​ $ (23,024) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Municipal securities ​ $ — ​ $ — ​ $ 7,530 ​ $ (2,796) ​ $ 7,530 ​ $ (2,796) Agency securities ​ ​ — ​ ​ — ​ ​ 49,784 ​ ​ (4,293) ​ ​ 49,784 ​ ​ (4,293) Real estate mortgage investment conduits (1) ​ ​ — ​ ​ — ​ ​ 27,507 ​ ​ (5,031) ​ ​ 27,507 ​ ​ (5,031) Residential mortgage-backed securities (1) ​ ​ — ​ ​ — ​ ​ 98,382 ​ ​ (16,831) ​ ​ 98,382 ​ ​ (16,831) Other mortgage-backed securities (3) ​ ​ — ​ ​ — ​ ​ 17,272 ​ ​ (3,233) ​ ​ 17,272 ​ ​ (3,233) Total held to maturity ​ $ — ​ $ — ​ $ 200,475 ​ $ (32,184) ​ $ 200,475 ​ $ (32,184) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for sale: ​ ​ ​ ​ ​ ​ Municipal securities ​ $ 6,277 ​ $ (133) ​ $ 32,797 ​ $ (7,479) ​ $ 39,074 ​ $ (7,612) Agency securities ​ ​ 43,451 ​ (747) ​ 36,646 ​ (5,227) ​ 80,097 ​ (5,974) Real estate mortgage investment conduits (1) ​ 2,693 ​ (97) ​ 26,184 ​ (5,273) ​ 28,877 ​ (5,370) Residential mortgage-backed securities (1) ​ 3,449 ​ (147) ​ 12,022 ​ (894) ​ 15,471 ​ (1,041) Other mortgage-backed securities (2) ​ 13,876 ​ (376) ​ 26,619 ​ (3,762) ​ 40,495 ​ (4,138) Total available for sale ​ $ 69,746 ​ $ (1,500) ​ $ 134,268 ​ $ (22,635) ​ $ 204,014 ​ $ (24,135) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held to maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Municipal securities ​ $ — ​ $ — ​ $ 7,485 ​ $ (2,859) ​ $ 7,485 ​ $ (2,859) Agency securities ​ ​ 8,413 ​ ​ (240) ​ ​ 40,437 ​ ​ (4,851) ​ ​ 48,850 ​ ​ (5,091) Real estate mortgage investment conduits (1) ​ ​ 2,580 ​ ​ (191) ​ ​ 27,837 ​ ​ (4,578) ​ ​ 30,417 ​ ​ (4,769) Residential mortgage-backed securities (1) ​ ​ 2 ​ ​ — ​ ​ 106,229 ​ ​ (17,542) ​ ​ 106,231 ​ ​ (17,542) Other mortgage-backed securities (3) ​ ​ — ​ ​ — ​ ​ 17,231 ​ ​ (3,368) ​ ​ 17,231 ​ ​ (3,368) Total held to maturity ​ $ 10,995 ​ $ (431) ​ $ 199,219 ​ $ (33,198) ​ $ 210,214 ​ $ (33,629) ​ (1) Comprised of FHLMC, FNMA and GNMA issued securities. (2) Comprised of SBA and CRE secured securities issued by FHLMC and FNMA. (3) Comprised of FHLMC and FNMA issued securities.

LOANS AND ALLOWANCE FOR CREDI_2

LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS (Tables)	9 Months Ended
	Dec. 31, 2023
LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS
Schedule of loans and financing receivable	Loans receivable, excluding loans held for sale, consisted of the following at the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, March 31, ​ ​ 2023 ​ 2023 Commercial and construction ​ ​ Commercial business ​ $ 229,249 ​ $ 232,868 Commercial real estate ​ 573,075 ​ ​ 564,496 Land ​ 8,690 ​ ​ 6,437 Multi-family ​ 67,017 ​ ​ 55,836 Real estate construction ​ 42,167 ​ ​ 47,762 Total commercial and construction ​ 920,198 ​ ​ 907,399 ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ Real estate one-to-four family ​ 96,266 ​ ​ 99,673 Other installment ​ 1,735 ​ ​ 1,784 Total consumer ​ 98,001 ​ ​ 101,457 ​ ​ ​ ​ ​ ​ ​ Total loans ​ 1,018,199 ​ ​ 1,008,856 ​ ​ ​ ​ ​ ​ ​ Less: ACL for loans (1) ​ 15,361 ​ ​ 15,309 Loans receivable, net ​ $ 1,002,838 ​ $ 993,547 ​ (1) All amounts prior to April 1, 2023 were calculated using the previous incurred loss methodology to compute our allowance for loan losses, which is not directly comparable to the current expected credit losses (“CECL”) methodology.
Schedule of risk category of bank loans by year of origination	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loans Amortized Cost Basis by Origination Fiscal Year ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ Loans ​ ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ Prior Loans ​ Receivable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial business ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 10,078 ​ $ 63,586 ​ $ 87,431 ​ $ 30,264 ​ $ 17,299 ​ $ 13,038 ​ $ 3,131 ​ $ 224,827 Special Mention ​ — ​ 251 ​ 773 ​ ​ — ​ ​ 552 ​ ​ 286 ​ ​ 2,497 ​ ​ 4,359 Substandard ​ — ​ — ​ — ​ ​ — ​ ​ — ​ ​ 63 ​ ​ — ​ ​ 63 Total commercial business ​ $ 10,078 ​ $ 63,837 ​ $ 88,204 ​ $ 30,264 ​ $ 17,851 ​ $ 13,387 ​ $ 5,628 ​ $ 229,249 Current YTD gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 24,867 ​ $ 60,034 ​ $ 148,293 ​ $ 90,346 ​ $ 53,902 ​ $ 163,891 ​ $ — ​ $ 541,333 Special Mention ​ — ​ 3,780 ​ 903 ​ ​ — ​ ​ — ​ ​ 26,975 ​ ​ — ​ ​ 31,658 Substandard ​ — ​ — ​ — ​ ​ — ​ ​ — ​ ​ 84 ​ ​ — ​ ​ 84 Total commercial real estate ​ $ 24,867 ​ $ 63,814 ​ $ 149,196 ​ $ 90,346 ​ $ 53,902 ​ $ 190,950 ​ $ — ​ $ 573,075 Current YTD gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 3,501 ​ $ 2,361 ​ $ 98 ​ $ 1,809 ​ $ 110 ​ $ 454 ​ $ — ​ $ 8,333 Special Mention ​ — ​ 357 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 357 Total land ​ $ 3,501 ​ $ 2,718 ​ $ 98 ​ $ 1,809 ​ $ 110 ​ $ 454 ​ $ — ​ $ 8,690 Current YTD gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Multi-family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 684 ​ $ 17,150 ​ $ 32,221 ​ $ 5,066 ​ $ 8,965 ​ $ 2,834 ​ $ — ​ $ 66,920 Special Mention ​ — ​ — ​ — ​ ​ — ​ ​ 35 ​ ​ 32 ​ ​ — ​ ​ 67 Substandard ​ — ​ — ​ — ​ ​ — ​ ​ — ​ ​ 30 ​ ​ — ​ ​ 30 Total multi-family ​ $ 684 ​ $ 17,150 ​ $ 32,221 ​ $ 5,066 ​ $ 9,000 ​ $ 2,896 ​ $ — ​ $ 67,017 Current YTD gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loans Amortized Cost Basis by Origination Fiscal Year ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ Loans ​ ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ Prior Loans ​ Receivable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real estate construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 12,805 ​ $ 17,536 ​ $ 11,056 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 41,397 Special Mention ​ 770 ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 770 Total real estate construction ​ $ 13,575 ​ $ 17,536 ​ $ 11,056 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 42,167 Current YTD gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real estate one-to-four family ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ — ​ $ — ​ $ 61,048 ​ $ 4,194 ​ $ 4,411 ​ $ 15,145 ​ $ 11,430 ​ $ 96,228 Substandard ​ — ​ — ​ — ​ ​ — ​ ​ — ​ ​ 38 ​ ​ — ​ ​ 38 Total real estate one-to-four family ​ $ — ​ $ — ​ $ 61,048 ​ $ 4,194 ​ $ 4,411 ​ $ 15,183 ​ $ 11,430 ​ $ 96,266 Current YTD gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ Other installment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 311 ​ $ 612 ​ $ 223 ​ $ 86 ​ $ 34 ​ $ 18 ​ $ 451 ​ $ 1,735 Total other installment ​ $ 311 ​ $ 612 ​ $ 223 ​ $ 86 ​ $ 34 ​ $ 18 ​ $ 451 ​ $ 1,735 Current YTD gross write-offs ​ $ — ​ $ 11 ​ $ — ​ $ — ​ $ — ​ $ 2 ​ $ — ​ $ 13 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total loans receivable, gross ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 52,246 ​ $ 161,279 ​ $ 340,370 ​ $ 131,765 ​ $ 84,721 ​ $ 195,380 ​ $ 15,012 ​ $ 980,773 Special Mention ​ 770 ​ 4,388 ​ 1,676 ​ ​ — ​ ​ 587 ​ ​ 27,293 ​ ​ 2,497 ​ ​ 37,211 Substandard ​ — ​ — ​ — ​ ​ — ​ ​ — ​ ​ 215 ​ ​ — ​ ​ 215 Total loans receivable, gross ​ $ 53,016 ​ $ 165,667 ​ $ 342,046 ​ $ 131,765 ​ $ 85,308 ​ $ 222,888 ​ $ 17,509 ​ $ 1,018,199 Total current YTD gross write-offs ​ $ — ​ $ 11 ​ $ — ​ $ — ​ $ — ​ $ 2 ​ $ — ​ $ 13
Schedule of reconciliation of the allowance for loan losses	The following tables detail activity in the ACL for loans at or for the three and nine months ended December 31, 2023 under the CECL methodology, and in the allowance for loan losses under the incurred loss methodology for the three and nine months ended December 31, 2022, by loan category (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Commercial Commercial ​ ​ Multi- Real Estate ​ ​ ​ ​ ​ ​ December 31, 2023 ​ Business ​ Real Estate ​ Land ​ Family ​ Construction ​ Consumer ​ Unallocated ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 5,339 ​ $ 7,138 ​ $ 112 ​ $ 293 ​ $ 860 ​ $ 1,604 ​ $ — ​ $ 15,346 Provision for (recapture of) credit losses ​ (74) ​ ​ 141 ​ ​ 45 ​ ​ 41 ​ ​ (129) ​ ​ (24) ​ ​ — ​ ​ — Charge-offs ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (2) ​ ​ — ​ ​ (2) Recoveries ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 17 ​ ​ — ​ ​ 17 Ending balance ​ $ 5,265 ​ $ 7,279 ​ $ 157 ​ $ 334 ​ $ 731 ​ $ 1,595 ​ $ — ​ $ 15,361 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 3,123 ​ $ 8,894 ​ $ 93 ​ $ 798 ​ $ 764 ​ $ 1,127 ​ $ 510 ​ $ 15,309 Impact of adopting CECL (ASU 2016-13) ​ ​ 1,884 ​ ​ (1,494) ​ ​ 40 ​ ​ (492) ​ ​ 131 ​ ​ 483 ​ ​ (510) ​ ​ 42 Provision for (recapture of) credit losses ​ 258 ​ ​ (121) ​ ​ 24 ​ ​ 28 ​ ​ (164) ​ ​ (25) ​ ​ — ​ — Charge-offs ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (13) ​ ​ — ​ (13) Recoveries ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 23 ​ ​ — ​ 23 Ending balance ​ $ 5,265 ​ $ 7,279 ​ $ 157 ​ $ 334 ​ $ 731 ​ $ 1,595 ​ $ — ​ $ 15,361 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 2,789 ​ $ 8,230 ​ $ 124 ​ $ 856 ​ $ 638 ​ $ 1,225 ​ $ 690 ​ $ 14,552 Provision for (recapture of) loan losses ​ 101 ​ ​ (254) ​ ​ (26) ​ ​ (41) ​ ​ 206 ​ ​ (42) ​ ​ 56 ​ — Charge-offs ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ — Recoveries ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 6 ​ ​ — ​ 6 Ending balance ​ $ 2,890 ​ $ 7,976 ​ $ 98 ​ $ 815 ​ $ 844 ​ $ 1,189 ​ $ 746 ​ $ 14,558 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 2,422 ​ $ 9,037 ​ $ 168 ​ $ 845 ​ $ 393 ​ $ 943 ​ $ 715 ​ $ 14,523 Provision for (recapture of) loan losses ​ 468 ​ (1,061) ​ (70) ​ (30) ​ 451 ​ 211 ​ 31 ​ — Charge-offs ​ — ​ — ​ — ​ — ​ — ​ (16) ​ — ​ (16) Recoveries ​ — ​ — ​ — ​ — ​ — ​ 51 ​ — ​ 51 Ending balance ​ $ 2,890 ​ $ 7,976 ​ $ 98 ​ $ 815 ​ $ 844 ​ $ 1,189 ​ $ 746 ​ $ 14,558
Schedule of impaired financing receivables	The following table presents an analysis of loans receivable and the allowance for loan losses, based on impairment methodology as of March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for Loan Losses ​ Recorded Investment in Loans ​ ​ Individually Collectively ​ ​ Individually Collectively ​ ​ ​ ​ Evaluated ​ Evaluated ​ ​ ​ ​ Evaluated ​ Evaluated ​ ​ ​ ​ ​ for ​ for ​ ​ ​ ​ for ​ for ​ ​ ​ March 31, 2023 ​ Impairment ​ Impairment ​ Total ​ Impairment ​ Impairment ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial business ​ $ — ​ $ 3,123 ​ $ 3,123 ​ $ 79 ​ $ 232,789 ​ $ 232,868 Commercial real estate ​ — ​ 8,894 ​ ​ 8,894 ​ ​ 100 ​ ​ 564,396 ​ ​ 564,496 Land ​ — ​ 93 ​ ​ 93 ​ ​ — ​ ​ 6,437 ​ ​ 6,437 Multi-family ​ — ​ 798 ​ ​ 798 ​ ​ — ​ ​ 55,836 ​ ​ 55,836 Real estate construction ​ — ​ 764 ​ ​ 764 ​ ​ — ​ ​ 47,762 ​ ​ 47,762 Consumer ​ 6 ​ 1,121 ​ ​ 1,127 ​ ​ 450 ​ ​ 101,007 ​ ​ 101,457 Unallocated ​ — ​ 510 ​ ​ 510 ​ ​ — ​ ​ — ​ ​ — Total ​ $ 6 ​ $ 15,303 ​ $ 15,309 ​ $ 629 ​ $ 1,008,227 ​ $ 1,008,856
Schedule of analysis of loans by aging category	The following tables present an analysis of loans by aging category at the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ Past ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ ​ ​ ​ Due and ​ ​ ​ ​ Total ​ ​ 30-89 Days ​ Greater ​ ​ ​ ​ Non- ​ ​ ​ ​ Loans December 31, 2023 ​ Past Due ​ Past Due ​ Non-accrual ​ accrual ​ Current ​ Receivable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial business ​ $ 3,896 ​ $ — ​ $ 63 ​ $ 3,959 ​ $ 225,290 ​ $ 229,249 Commercial real estate ​ 821 ​ — ​ 85 ​ ​ 906 ​ ​ 572,169 ​ ​ 573,075 Land ​ — ​ — ​ — ​ ​ — ​ ​ 8,690 ​ ​ 8,690 Multi-family ​ — ​ — ​ — ​ ​ — ​ ​ 67,017 ​ ​ 67,017 Real estate construction ​ — ​ — ​ — ​ ​ — ​ ​ 42,167 ​ ​ 42,167 Consumer ​ 13 ​ — ​ 38 ​ ​ 51 ​ ​ 97,950 ​ ​ 98,001 Total ​ $ 4,730 ​ $ — ​ $ 186 ​ $ 4,916 ​ $ 1,013,283 ​ $ 1,018,199 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial business ​ $ 1,967 ​ $ 1,569 ​ $ 97 ​ $ 3,633 ​ $ 229,235 ​ $ 232,868 Commercial real estate ​ — ​ — ​ 100 ​ ​ 100 ​ ​ 564,396 ​ ​ 564,496 Land ​ — ​ — ​ — ​ ​ — ​ ​ 6,437 ​ ​ 6,437 Multi-family ​ — ​ — ​ — ​ ​ — ​ ​ 55,836 ​ ​ 55,836 Real estate construction ​ — ​ — ​ — ​ ​ — ​ ​ 47,762 ​ ​ 47,762 Consumer ​ 11 ​ — ​ 86 ​ ​ 97 ​ ​ 101,360 ​ ​ 101,457 Total ​ $ 1,978 ​ $ 1,569 ​ $ 283 ​ $ 3,830 ​ $ 1,005,026 ​ $ 1,008,856
Schedule of credit quality indicators	The following table presents an analysis of loans by credit quality indicators as of March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans March 31, 2023 ​ Pass ​ Mention ​ Substandard ​ Doubtful ​ Loss ​ Receivable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial business ​ $ 231,384 ​ $ 1,367 ​ $ 117 ​ $ — ​ $ — ​ $ 232,868 Commercial real estate ​ 544,426 ​ ​ 17,626 ​ ​ 2,444 ​ — ​ — ​ 564,496 Land ​ 6,437 ​ ​ — ​ ​ — ​ — ​ — ​ 6,437 Multi-family ​ 55,694 ​ ​ 142 ​ ​ — ​ — ​ — ​ 55,836 Real estate construction ​ 47,762 ​ ​ — ​ ​ — ​ — ​ — ​ 47,762 Consumer ​ 101,371 ​ ​ — ​ ​ 86 ​ — ​ — ​ 101,457 Total ​ $ 987,074 ​ $ 19,135 ​ $ 2,647 ​ $ — ​ $ — ​ $ 1,008,856
Schedule of total and average recorded investment in impaired loans	​ The following tables present the total and average recorded investment in impaired loans at the dates and for the periods indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded Recorded ​ ​ ​ ​ ​ ​ ​ ​ Investment ​ Investment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ with ​ with ​ ​ ​ ​ ​ ​ ​ Related ​ ​ No Specific ​ Specific ​ Total ​ Unpaid ​ Specific March 31, 2023 ​ Valuation ​ Valuation ​ Recorded ​ Principal ​ Valuation ​ ​ Allowance ​ Allowance ​ Investment ​ Balance ​ Allowance Commercial business ​ $ 79 ​ $ — ​ $ 79 ​ $ 127 ​ $ — Commercial real estate ​ 100 ​ ​ — ​ ​ 100 ​ ​ 162 ​ — Consumer ​ 355 ​ ​ 95 ​ ​ 450 ​ ​ 442 ​ 6 Total ​ $ 534 ​ $ 95 ​ $ 629 ​ $ 731 ​ $ 6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ December 31, 2022 ​ December 31, 2022 ​ ​ ​ Interest ​ ​ Interest ​ ​ ​ ​ ​ Recognized ​ ​ ​ ​ Recognized ​ ​ Average ​ on ​ Average ​ on ​ ​ Recorded ​ Impaired ​ Recorded ​ Impaired ​ ​ Investment Loans ​ Investment Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial business ​ $ 87 ​ $ — ​ $ 92 ​ $ — Commercial real estate ​ 109 ​ ​ — ​ ​ 114 ​ ​ — Consumer ​ 471 ​ ​ 5 ​ ​ 481 ​ ​ 17 Total ​ $ 667 ​ $ 5 ​ $ 687 ​ $ 17 ​

FEDERAL HOME LOAN BANK ADVANC_2

FEDERAL HOME LOAN BANK ADVANCES (Tables)	9 Months Ended
	Dec. 31, 2023
FEDERAL HOME LOAN BANK ADVANCES
Schedule of FHLB advances	FHLB advances are summarized at the dates indicated (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 March 31, 2023 FHLB advances ​ $ 157,054 ​ $ 123,754 ​ Weighted average interest rate on FHLB advances (1) ​ 5.37 % 4.88 % ​ (1) Computed based on the borrowing activity for the nine months ended December 31, 2023 and the fiscal year ended March 31, 2023, respectively.

JUNIOR SUBORDINATED DEBENTURES

JUNIOR SUBORDINATED DEBENTURES (Tables)	9 Months Ended
	Dec. 31, 2023
JUNIOR SUBORDINATED DEBENTURES
Schedule of summary of the terms and amounts outstanding of the debentures	The following table is a summary of the terms and the amounts outstanding of the Debentures at December 31, 2023 (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 % 7.01 % 3/2036 Riverview Bancorp Statutory Trust II 06/2007 ​ 15,464 Variable (2) 7.03 % 7.00 % 9/2037 Merchants Bancorp Statutory Trust I (4) 06/2003 ​ 5,155 Variable (3) 4.16 % 8.72 % 6/2033 ​ ​ ​ ​ 27,836 ​ ​ ​ ​ ​ ​ ​ ​ Fair value adjustment (4) ​ ​ ​ (854) Total Debentures ​ ​ ​ $ 26,982 ​ (1) The trust preferred securities reprice quarterly based on the three-month Chicago Mercantile Exchange (“CME”) Term SOFR plus 1.36% . (2) The trust preferred securities reprice quarterly based on the three-month CME Term SOFR plus 1.35% . (3) The trust preferred securities reprice quarterly based on the three-month CME Term SOFR plus 3.10% . (4) Amount, net of accretion, attributable to a prior year’s business combination .

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Dec. 31, 2023
FAIR VALUE MEASUREMENTS
Schedule of assets that are measured at estimated fair value on a recurring basis	The following tables present assets that are measured at estimated fair value on a recurring basis at the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Estimated ​ Estimated Fair Value Measurements Using December 31, 2023 Fair Value Level 1 Level 2 Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment securities available for sale: ​ ​ ​ ​ Municipal securities ​ $ 40,307 ​ $ — ​ $ 40,307 ​ $ — Agency securities ​ 83,992 ​ — ​ 83,992 ​ — Real estate mortgage investment conduits ​ 26,420 ​ — ​ 26,420 ​ — Residential mortgage-backed securities ​ 13,296 ​ — ​ 13,296 ​ — Other mortgage-backed securities ​ 32,446 ​ — ​ 32,446 ​ — Total assets measured at fair value on a recurring basis ​ $ 196,461 ​ $ — ​ $ 196,461 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Estimated Estimated Fair Value Measurements Using March 31, 2023 Fair Value Level 1 Level 2 Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment securities available for sale: ​ ​ ​ ​ Municipal securities ​ $ 40,261 ​ $ — ​ $ 40,261 ​ $ — Agency securities ​ 85,907 ​ — ​ 85,907 ​ — Real estate mortgage investment conduits ​ 28,877 ​ — ​ 28,877 ​ — Residential mortgage-backed securities ​ 15,471 ​ — ​ 15,471 ​ — Other mortgage-backed securities ​ 40,983 ​ — ​ 40,983 ​ — Total assets measured at fair value on a recurring basis ​ $ 211,499 ​ $ — ​ $ 211,499 ​ $ —
Schedule of assets that are measured at estimated fair value on a nonrecurring basis	The following tables present assets that are measured at estimated fair value on a nonrecurring basis at March 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ Estimated Fair Value ​ ​ Estimated ​ Measurements Using March 31, 2023 ​ Fair Value Level 1 Level 2 Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans ​ $ 89 ​ $ — ​ $ — ​ $ 89 ​
Schedule of quantitative information about Level 3 inputs for financial instruments measured at fair value on a nonrecurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation Significant Unobservable ​ March 31, 2023 ​ Technique ​ Inputs ​ Range ​ ​ ​ ​ ​ ​ ​ Impaired loans Appraised Adjustment for market conditions N/A (1) ​ ​ Discounted cash flows ​ Discount rate ​ 5.375% (1) There were no adjustments to appraised values of impaired loans as of March 31, 2023.
Schedule of carrying amount and estimated fair value of financial instruments	The carrying amount and estimated fair value of financial instruments is as follows at the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated December 31, 2023 ​ Amount Level 1 ​ Level 2 ​ Level 3 Fair Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 37,553 ​ $ 37,553 ​ $ — ​ $ — ​ $ 37,553 Investment securities available for sale ​ 196,461 ​ — ​ 196,461 ​ — ​ 196,461 Investment securities held to maturity ​ 232,659 ​ — ​ 200,475 ​ — ​ 200,475 Loans receivable, net ​ 1,002,838 ​ — ​ — ​ 940,461 ​ 940,461 FHLB stock ​ 8,026 ​ — ​ 8,026 ​ — ​ 8,026 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Certificates of deposit ​ 170,491 ​ — ​ 168,101 ​ — ​ 168,101 FHLB advances ​ 157,054 ​ — ​ 156,960 ​ — ​ 156,960 Junior subordinated debentures ​ 26,982 ​ — ​ — ​ 18,989 ​ 18,989 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated March 31, 2023 ​ Amount ​ Level 1 ​ Level 2 ​ Level 3 ​ Fair Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 22,044 ​ $ 22,044 ​ $ — ​ $ — ​ $ 22,044 Certificates of deposit held for investment ​ 249 ​ — ​ 248 ​ — ​ 248 Investment securities available for sale ​ 211,499 ​ — ​ 211,499 ​ — ​ 211,499 Investment securities held to maturity ​ 243,843 ​ — ​ 210,214 ​ — ​ 210,214 Loans receivable, net ​ 993,547 ​ — ​ — ​ 931,784 ​ 931,784 FHLB stock ​ 6,867 ​ — ​ 6,867 ​ — ​ 6,867 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Certificates of deposit ​ 128,833 ​ — ​ 126,072 ​ — ​ 126,072 FHLB advances ​ ​ 123,754 ​ — ​ 123,679 ​ — ​ 123,679 Junior subordinated debentures ​ 26,918 ​ — ​ — ​ 17,698 ​ 17,698

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	9 Months Ended
	Dec. 31, 2023
REVENUE FROM CONTRACTS WITH CUSTOMERS
Schedule of non-interest income disaggregated by type of service	The following table includes the Company’s non-interest income, net disaggregated by type of service for the periods shown (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ December 31, ​ December 31, ​ 2023 2022 2023 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset management fees ​ $ 1,266 ​ $ 1,137 ​ $ 3,920 ​ $ 3,459 Debit card and ATM fees ​ 808 ​ 803 ​ 2,500 ​ 2,598 Deposit related fees ​ 465 ​ 427 ​ 1,374 ​ 1,304 Loan related fees ​ 99 ​ 99 ​ 471 ​ 422 BOLI (1) ​ 211 ​ 194 ​ 669 ​ 626 FHLMC loan servicing fees (1) ​ 21 ​ 13 ​ 64 ​ 55 Other, net ​ 186 ​ 290 ​ 750 ​ 759 Total non-interest income, net ​ $ 3,056 ​ $ 2,963 ​ $ 9,748 ​ $ 9,223 ​ (1) Not within scope of ASC 606

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Dec. 31, 2023
COMMITMENTS AND CONTINGENCIES
Schedule of significant off-balance sheet commitments	Significant off-balance sheet commitments at December 31, 2023 are listed below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contract or Notional ​ ​ Amount ​ ​ December 31, ​ 2023 Commitments to extend credit: ​ Adjustable-rate ​ $ 9,837 Fixed-rate ​ 52 Standby letters of credit ​ 1,600 Undisbursed loan funds and unused lines of credit ​ 161,703 Total ​ $ 173,192

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Dec. 31, 2023
LEASES
Schedule of lease right-of-use assets and lease liabilities	The table below presents the ROU assets and lease liabilities recorded in the consolidated balance sheets at the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ March 31, Classification in the Leases 2023 2023 consolidated balance sheets Finance lease ROU assets ​ $ 1,221 $ 1,278 Financing lease ROU assets Finance lease liability ​ $ 2,184 $ 2,229 Finance lease liability Finance lease remaining lease term ​ 15.93 years 16.68 years ​ Finance lease discount rate ​ 7.16 % 7.16 % ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease ROU assets ​ $ 5,788 $ 6,705 Prepaid expenses and other assets Operating lease liabilities ​ $ 6,105 $ 7,064 Accrued expenses and other liabilities Operating lease weighted-average remaining lease term ​ 5.53 years 6.15 years ​ Operating lease weighted-average discount rate ​ 1.75 % 1.78 %
Schedule of lease costs for finance and operating leases	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 at the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Three months ended Lease Costs December 31, 2023 December 31, 2022 Finance lease amortization of right-of-use asset ​ $ 20 ​ $ 20 Finance lease interest on lease liability ​ 39 ​ 41 Operating lease costs ​ 283 ​ 283 Variable lease costs ​ 53 ​ 52 Total lease cost (1) ​ $ 395 ​ $ 396 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ Nine months ended Lease Costs December 31, 2023 December 31, 2022 Finance lease amortization of ROU asset ​ $ 58 ​ $ 58 Finance lease interest on lease liability ​ 119 ​ 122 Operating lease costs ​ 849 ​ 849 Variable lease costs ​ 157 ​ 157 Total lease cost (1) ​ $ 1,183 ​ $ 1,186 ​ (1) Income related to sub-lease activity is not significant and not presented herein. ​
Schedule of maturities of operating lease liabilities	The following table reconciles the undiscounted cash flows for the periods presented related to the Company’s lease liabilities as of December 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ending March 31: Operating Finance ​ ​ Leases ​ Lease Remainder of Fiscal 2024 ​ $ 345 ​ $ 56 2025 ​ 1,375 ​ 222 2026 ​ 1,125 ​ 226 2027 ​ 1,116 ​ 230 2028 ​ 899 ​ 232 Thereafter ​ 1,631 ​ 2,711 Total minimum lease payments ​ 6,491 ​ 3,677 Less: amount of lease payments representing interest ​ (386) ​ (1,493) Lease liabilities ​ $ 6,105 ​ $ 2,184 ​
Schedule of maturities of finance lease liabilities	The following table reconciles the undiscounted cash flows for the periods presented related to the Company’s lease liabilities as of December 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ending March 31: Operating Finance ​ ​ Leases ​ Lease Remainder of Fiscal 2024 ​ $ 345 ​ $ 56 2025 ​ 1,375 ​ 222 2026 ​ 1,125 ​ 226 2027 ​ 1,116 ​ 230 2028 ​ 899 ​ 232 Thereafter ​ 1,631 ​ 2,711 Total minimum lease payments ​ 6,491 ​ 3,677 Less: amount of lease payments representing interest ​ (386) ​ (1,493) Lease liabilities ​ $ 6,105 ​ $ 2,184 ​

PRINCIPLES OF CONSOLIDATION (De

PRINCIPLES OF CONSOLIDATION (Details) - USD ($)	1 Months Ended
	May 31, 2021	Oct. 31, 2020	Dec. 31, 2019	Dec. 31, 2023	Jul. 31, 2022
PRINCIPLES OF CONSOLIDATION
Number of shares additional issued	500	500
Additional Shares exercised	500	500
Riverview Bank
PRINCIPLES OF CONSOLIDATION
Non controlling Interest					$ 234,000
Trust Company
PRINCIPLES OF CONSOLIDATION
Number of shares issued			1,500
Number of stock options exercised			1,500
Trust Company | Riverview Bank
PRINCIPLES OF CONSOLIDATION
Ownership percentage				100%	97.30%

STOCK PLANS AND STOCK-BASED C_3

STOCK PLANS AND STOCK-BASED COMPENSATION - Stock option activity (Details) - $ / shares	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of Shares
Balance, beginning of period	14,310	17,332
Options exercised	(12,799)	(1,511)
Options expired	(1,511)	(1,511)
Balance, end of period	0	14,310
Weighted Average Exercise Price
Balance, beginning of period	$ 2.78	$ 2.78
Options exercised	2.78	2.78
Options expired	$ 2.78	2.78
Balance, end of period		$ 2.78

STOCK PLANS AND STOCK-BASED C_4

STOCK PLANS AND STOCK-BASED COMPENSATION - Stock options outstanding (Details)	9 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Stock options fully vested and expected to vest:
Number | shares	14,310
Weighted average exercise price | $ / shares	$ 2.78
Aggregate intrinsic value (1) | $	$ 70,000
Weighted average contractual term of options (years)	6 months 14 days
Stock options fully vested and currently exercisable:
Number | shares	14,310
Weighted average exercise price | $ / shares	$ 2.78
Aggregate intrinsic value (1) | $	$ 70,000
Weighted average contractual term of options (years)	6 months 14 days

STOCK PLANS AND STOCK-BASED C_5

STOCK PLANS AND STOCK-BASED COMPENSATION - Restricted Stock Activity (Details) - $ / shares	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Time Based
Number of Unvested Shares
Balance, beginning of period	29,977	26,855
Granted	19,926	15,571
Forfeited	(19,006)
Vested	(15,118)	(12,449)
Balance, end of period	15,779	29,977
Weighted Average Grant Date Fair Value
Balance, beginning of period	$ 6.14	$ 6.02
Granted	5.21	6.30
Forfeited	5.81
Vested	5.77	6.07
Balance, end of period	$ 5.72	$ 6.14
Performance Based
Number of Unvested Shares
Balance, beginning of period	132,645	121,492
Granted	84,040	56,125
Forfeited	(99,514)	(2,977)
Vested	(53,774)	(41,995)
Balance, end of period	63,397	132,645
Weighted Average Grant Date Fair Value
Balance, beginning of period	$ 6.05	$ 5.70
Granted	5.21	6.30
Forfeited	5.94	7.56
Vested	5.38	5.26
Balance, end of period	$ 5.68	$ 6.05
Restricted stock
Number of Unvested Shares
Balance, beginning of period	162,622	148,347
Granted	103,966	71,696
Forfeited	(118,520)	(2,977)
Vested	(68,892)	(54,444)
Balance, end of period	79,176	162,622
Weighted Average Grant Date Fair Value
Balance, beginning of period	$ 6.07	$ 5.76
Granted	5.21	6.30
Forfeited	5.92	7.56
Vested	5.47	5.45
Balance, end of period	$ 5.69	$ 6.07

STOCK PLANS AND STOCK-BASED C_6

STOCK PLANS AND STOCK-BASED COMPENSATION - Additional information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jul. 31, 2017
STOCK PLANS AND STOCK-BASED COMPENSATION
Stock options exercised (in shares)			12,799	1,511
Stock Option Plans
STOCK PLANS AND STOCK-BASED COMPENSATION
Total intrinsic value of stock options exercised			$ 28,000	$ 7,000
Unrecognized compensation expense	$ 0		0
Stock based Compensation Expense			$ 0	$ 0
2003 Stock Option Plan
STOCK PLANS AND STOCK-BASED COMPENSATION
Number of stock options outstanding	0		0
Maximum term of stock options granted			10 years
2017 Plan
STOCK PLANS AND STOCK-BASED COMPENSATION
Shares available for grant	1,532,003		1,532,003
Number of shares reserved for common stock					1,800,000
Minimum | 2003 Stock Option Plan
STOCK PLANS AND STOCK-BASED COMPENSATION
Vesting period			0 years
Maximum | 2003 Stock Option Plan
STOCK PLANS AND STOCK-BASED COMPENSATION
Vesting period			5 years
Employee Stock Option [Member]
STOCK PLANS AND STOCK-BASED COMPENSATION
Number of stock options granted			0	0
Restricted stock
STOCK PLANS AND STOCK-BASED COMPENSATION
Number of stock awards granted			103,966	71,696
Restricted stock grants	$ (26,000)		$ (238,000)
Unrecognized compensation expense	267,000	$ 539,000	267,000	$ 539,000
Stock based Compensation Expense	$ 19,000	$ 100,000	$ 11,000	$ 292,000
Restricted stock | Weighted average
STOCK PLANS AND STOCK-BASED COMPENSATION
Vesting period			1 year 6 months 3 days	1 year 3 months 29 days
Performance Based
STOCK PLANS AND STOCK-BASED COMPENSATION
Number of stock awards granted			84,040	56,125
Time Based
STOCK PLANS AND STOCK-BASED COMPENSATION
Number of stock awards granted			19,926	15,571

EARNINGS PER SHARE - Earnings P

EARNINGS PER SHARE - Earnings Per Share, Basic and Diluted (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Basic EPS computation:
Numerator-net income (in dollars)	$ 1,452,000	$ 5,240,000	$ 6,767,000	$ 15,086,000
Denominator-weighted average common shares outstanding	21,113,464	21,504,903	21,146,888	21,717,959
Basic EPS (in dollars per share)	$ 0.07	$ 0.24	$ 0.32	$ 0.69
Diluted EPS computation:
Numerator-net income (in dollars)	$ 1,452,000	$ 5,240,000	$ 6,767,000	$ 15,086,000
Denominator-weighted average common shares outstanding	21,113,464	21,504,903	21,146,888	21,717,959
Effect of dilutive stock options		8,714	1,791	8,593
Weighted average common shares and common stock equivalents	21,113,464	21,513,617	21,148,679	21,726,552
Diluted EPS (in dollars per share)	$ 0.07	$ 0.24	$ 0.32	$ 0.69

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional information (Details) - USD ($) $ / shares in Units, $ in Millions		9 Months Ended
	May 05, 2023	Dec. 31, 2023	Dec. 31, 2022	Nov. 30, 2022
EARNINGS PER SHARE
Antidilutive securities excluded from computation of earnings per share, amount		0	0
Repurchase program
EARNINGS PER SHARE
Maximum shares repurchase amount				$ 2.5
Average price	$ 6.34
Shares repurchased and retired	394,334
Shares repurchased and retired value	$ 2.5

INVESTMENT SECURITIES - Availab

INVESTMENT SECURITIES - Available for sale (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
INVESTMENT SECURITIES
Amortized Cost	$ 219,429	$ 235,591
Gross Unrealized Gains	56	43
Gross Unrealized Losses	(23,024)	(24,135)
Estimated Fair Value	196,461	211,499
Municipal securities
INVESTMENT SECURITIES
Amortized Cost	47,719	47,857
Gross Unrealized Gains	49	16
Gross Unrealized Losses	(7,461)	(7,612)
Estimated Fair Value	40,307	40,261
Agency securities
INVESTMENT SECURITIES
Amortized Cost	89,206	91,858
Gross Unrealized Gains		23
Gross Unrealized Losses	(5,214)	(5,974)
Estimated Fair Value	83,992	85,907
Real estate mortgage investment conduits
INVESTMENT SECURITIES
Amortized Cost	32,021	34,247
Gross Unrealized Losses	(5,601)	(5,370)
Estimated Fair Value	26,420	28,877
Residential mortgage-backed securities
INVESTMENT SECURITIES
Amortized Cost	14,191	16,512
Gross Unrealized Gains	3
Gross Unrealized Losses	(898)	(1,041)
Estimated Fair Value	13,296	15,471
Other mortgage-backed securities
INVESTMENT SECURITIES
Amortized Cost	36,292	45,117
Gross Unrealized Gains	4	4
Gross Unrealized Losses	(3,850)	(4,138)
Estimated Fair Value	$ 32,446	$ 40,983

INVESTMENT SECURITIES - Held to

INVESTMENT SECURITIES - Held to maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
INVESTMENT SECURITIES
Amortized Cost	$ 232,659	$ 243,843
Gross Unrealized Losses	(32,184)	(33,629)
Estimated Fair Value	200,475	210,214
Municipal securities
INVESTMENT SECURITIES
Amortized Cost	10,326	10,344
Gross Unrealized Losses	(2,796)	(2,859)
Estimated Fair Value	7,530	7,485
Agency securities
INVESTMENT SECURITIES
Amortized Cost	54,077	53,941
Gross Unrealized Losses	(4,293)	(5,091)
Estimated Fair Value	49,784	48,850
Real estate mortgage investment conduits
INVESTMENT SECURITIES
Amortized Cost	32,538	35,186
Gross Unrealized Losses	(5,031)	(4,769)
Estimated Fair Value	27,507	30,417
Residential mortgage-backed securities
INVESTMENT SECURITIES
Amortized Cost	115,213	123,773
Gross Unrealized Losses	(16,831)	(17,542)
Estimated Fair Value	98,382	106,231
Other mortgage-backed securities
INVESTMENT SECURITIES
Amortized Cost	20,505	20,599
Gross Unrealized Losses	(3,233)	(3,368)
Estimated Fair Value	$ 17,272	$ 17,231

INVESTMENT SECURITIES - Contrac

INVESTMENT SECURITIES - Contractual maturities, Available for sale (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Available for Sale, Amortized Cost
Due in one year or less	$ 19,327
Due after one year through five years	81,420
Due after five years through ten years	43,231
Due after ten years	75,451
Total, Amortized Cost	219,429
Available for Sale, Estimated Fair Value
Due in one year or less	19,198
Due after one year through five years	76,498
Due after five years through ten years	37,703
Due after ten years	63,062
Total, Estimated Fair Value	$ 196,461

INVESTMENT SECURITIES - Contr_2

INVESTMENT SECURITIES - Contractual maturities, Held to maturity (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Held to Maturity, Amortized Cost
Due in one year or less	$ 5,950
Due after one year through five years	42,356
Due after five years through ten years	23,380
Due after ten years	160,973
Total, Amortized Cost	232,659
Held to Maturity, Estimated Fair Value
Due in one year or less	5,789
Due after one year through five years	39,510
Due after five years through ten years	19,618
Due after ten years	135,558
Total, Estimated Fair Value	$ 200,475

INVESTMENT SECURITIES - Fair va

INVESTMENT SECURITIES - Fair value of impaired investment securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
INVESTMENT SECURITIES
Less than 12 months, Estimated Fair Value	$ 7,113	$ 69,746
Less than 12 months, Unrealized Losses	(20)	(1,500)
12 months or longer, Estimated Fair Value	186,188	134,268
12 months or longer, Unrealized Losses	(23,004)	(22,635)
Total, Estimated Fair Value	193,301	204,014
Total, Unrealized Losses	(23,024)	(24,135)
Debt Securities, Held to maturity
12 months or longer, estimated fair value	200,475
12 months or longer, unrealized losses	(32,184)
Total estimated fair value	200,475
Total, unrealized losses	(32,184)
Less than 12 months, Estimated fair value		10,995
Less than 12 months, unrealized losses		(431)
12 months or longer, Estimated Fair Value		199,219
12 months or longer, Unrealized Losses		(33,198)
Total Estimated fair value		210,214
Total, Unrealized Losses		(33,629)
Municipal securities
INVESTMENT SECURITIES
Less than 12 months, Estimated Fair Value	448	6,277
Less than 12 months, Unrealized Losses	(1)	(133)
12 months or longer, Estimated Fair Value	37,463	32,797
12 months or longer, Unrealized Losses	(7,460)	(7,479)
Total, Estimated Fair Value	37,911	39,074
Total, Unrealized Losses	(7,461)	(7,612)
Debt Securities, Held to maturity
12 months or longer, estimated fair value	7,530
12 months or longer, unrealized losses	(2,796)
Total estimated fair value	7,530
Total, unrealized losses	(2,796)
12 months or longer, Estimated Fair Value		7,485
12 months or longer, Unrealized Losses		(2,859)
Total Estimated fair value		7,485
Total, Unrealized Losses		(2,859)
Agency securities
INVESTMENT SECURITIES
Less than 12 months, Estimated Fair Value	5,819	43,451
Less than 12 months, Unrealized Losses	(17)	(747)
12 months or longer, Estimated Fair Value	78,173	36,646
12 months or longer, Unrealized Losses	(5,197)	(5,227)
Total, Estimated Fair Value	83,992	80,097
Total, Unrealized Losses	(5,214)	(5,974)
Debt Securities, Held to maturity
12 months or longer, estimated fair value	49,784
12 months or longer, unrealized losses	(4,293)
Total estimated fair value	49,784
Total, unrealized losses	(4,293)
Less than 12 months, Estimated fair value		8,413
Less than 12 months, unrealized losses		(240)
12 months or longer, Estimated Fair Value		40,437
12 months or longer, Unrealized Losses		(4,851)
Total Estimated fair value		48,850
Total, Unrealized Losses		(5,091)
Real estate mortgage investment conduits
INVESTMENT SECURITIES
Less than 12 months, Estimated Fair Value		2,693
Less than 12 months, Unrealized Losses		(97)
12 months or longer, Estimated Fair Value	26,420	26,184
12 months or longer, Unrealized Losses	(5,601)	(5,273)
Total, Estimated Fair Value	26,420	28,877
Total, Unrealized Losses	(5,601)	(5,370)
Debt Securities, Held to maturity
12 months or longer, estimated fair value	27,507
12 months or longer, unrealized losses	(5,031)
Total estimated fair value	27,507
Total, unrealized losses	(5,031)
Less than 12 months, Estimated fair value		2,580
Less than 12 months, unrealized losses		(191)
12 months or longer, Estimated Fair Value		27,837
12 months or longer, Unrealized Losses		(4,578)
Total Estimated fair value		30,417
Total, Unrealized Losses		(4,769)
Residential mortgage-backed securities
INVESTMENT SECURITIES
Less than 12 months, Estimated Fair Value		3,449
Less than 12 months, Unrealized Losses		(147)
12 months or longer, Estimated Fair Value	12,872	12,022
12 months or longer, Unrealized Losses	(898)	(894)
Total, Estimated Fair Value	12,872	15,471
Total, Unrealized Losses	(898)	(1,041)
Debt Securities, Held to maturity
12 months or longer, estimated fair value	98,382
12 months or longer, unrealized losses	(16,831)
Total estimated fair value	98,382
Total, unrealized losses	(16,831)
Less than 12 months, Estimated fair value		2
12 months or longer, Estimated Fair Value		106,229
12 months or longer, Unrealized Losses		(17,542)
Total Estimated fair value		106,231
Total, Unrealized Losses		(17,542)
Other mortgage-backed securities
INVESTMENT SECURITIES
Less than 12 months, Estimated Fair Value	846	13,876
Less than 12 months, Unrealized Losses	(2)	(376)
12 months or longer, Estimated Fair Value	31,260	26,619
12 months or longer, Unrealized Losses	(3,848)	(3,762)
Total, Estimated Fair Value	32,106	40,495
Total, Unrealized Losses	(3,850)	(4,138)
Debt Securities, Held to maturity
12 months or longer, estimated fair value	17,272
12 months or longer, unrealized losses	(3,233)
Total estimated fair value	17,272
Total, unrealized losses	$ (3,233)
12 months or longer, Estimated Fair Value		17,231
12 months or longer, Unrealized Losses		(3,368)
Total Estimated fair value		17,231
Total, Unrealized Losses		$ (3,368)

INVESTMENT SECURITIES - Additio

INVESTMENT SECURITIES - Additional information (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
INVESTMENT SECURITIES
Proceeds from the sale of investment securities	$ 0	$ 0
Gross realized gains on sales of investment securities	0	$ 0
Available for sale with amortized cost	219,429		$ 235,591
Available for sale, estimated fair value	196,461		211,499
Held to maturity, estimated fair value	200,475		210,214
Asset Pledged as Collateral.
INVESTMENT SECURITIES
Available for sale with amortized cost	2,800		3,200
Available for sale, estimated fair value	2,500		2,900
Held to maturity at amortized cost	11,400		12,300
Held to maturity, estimated fair value	$ 9,600		$ 10,400

LOANS AND ALLOWANCE FOR CREDI_3

LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS - Loans receivable, excluding loans held for sale (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022
LOANS RECEIVABLE
Total loans	$ 1,018,199
Less: ACL for loans	15,361	$ 15,346	$ 15,309
Loans receivable, net	1,002,838
Total loans			1,008,856
Less: ACL for loans			15,309	$ 14,558	$ 14,552	$ 14,523
Loans receivable, net			993,547
Commercial Real Estate Portfolio Segment
LOANS RECEIVABLE
Total loans	920,198
Total loans			907,399
Commercial Real Estate Portfolio Segment | Commercial Business
LOANS RECEIVABLE
Total loans	229,249
Less: ACL for loans	5,265	5,339	3,123
Total loans			232,868
Less: ACL for loans			3,123	2,890	2,789	2,422
Commercial Real Estate Portfolio Segment | Commercial Real Estate
LOANS RECEIVABLE
Total loans	573,075
Less: ACL for loans	7,279	7,138	8,894
Total loans			564,496
Less: ACL for loans			8,894	7,976	8,230	9,037
Commercial Real Estate Portfolio Segment | Land
LOANS RECEIVABLE
Total loans	8,690
Less: ACL for loans	157	112	93
Total loans			6,437
Less: ACL for loans			93	98	124	168
Commercial Real Estate Portfolio Segment | Multi-Family
LOANS RECEIVABLE
Total loans	67,017
Less: ACL for loans	334	293	798
Total loans			55,836
Less: ACL for loans			798	815	856	845
Commercial Real Estate Portfolio Segment | Real Estate Construction
LOANS RECEIVABLE
Total loans	42,167
Less: ACL for loans	731	860	764
Total loans			47,762
Less: ACL for loans			764	844	638	393
Consumer
LOANS RECEIVABLE
Total loans	98,001
Less: ACL for loans	1,595	$ 1,604	1,127
Total loans			101,457
Less: ACL for loans			1,127	$ 1,189	$ 1,225	$ 943
Consumer | Real estate one-to-four family
LOANS RECEIVABLE
Total loans	96,266
Total loans			99,673
Consumer | Other installment
LOANS RECEIVABLE
Total loans	$ 1,735
Total loans			$ 1,784

LOANS AND ALLOWANCE FOR CREDI_4

LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS - Risk category of bank loans by year of origination (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Origination year
2024	$ 53,016	$ 53,016
2023	165,667	165,667
2022	342,046	342,046
2021	131,765	131,765
2020	85,308	85,308
Prior	222,888	222,888
Revolving Loans	17,509	17,509
Total Loans Receivable	1,018,199	1,018,199
Gross write-offs
2023		11
Prior		2
Total Loans Receivable	2	13
Commercial Real Estate Portfolio Segment
Origination year
Total Loans Receivable	920,198	920,198
Commercial Real Estate Portfolio Segment | Commercial Business
Origination year
2024	10,078	10,078
2023	63,837	63,837
2022	88,204	88,204
2021	30,264	30,264
2020	17,851	17,851
Prior	13,387	13,387
Revolving Loans	5,628	5,628
Total Loans Receivable	229,249	229,249
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Origination year
2024	24,867	24,867
2023	63,814	63,814
2022	149,196	149,196
2021	90,346	90,346
2020	53,902	53,902
Prior	190,950	190,950
Total Loans Receivable	573,075	573,075
Commercial Real Estate Portfolio Segment | Land
Origination year
2024	3,501	3,501
2023	2,718	2,718
2022	98	98
2021	1,809	1,809
2020	110	110
Prior	454	454
Total Loans Receivable	8,690	8,690
Commercial Real Estate Portfolio Segment | Multi-Family
Origination year
2024	684	684
2023	17,150	17,150
2022	32,221	32,221
2021	5,066	5,066
2020	9,000	9,000
Prior	2,896	2,896
Total Loans Receivable	67,017	67,017
Commercial Real Estate Portfolio Segment | Real Estate Construction
Origination year
2024	13,575	13,575
2023	17,536	17,536
2022	11,056	11,056
Total Loans Receivable	42,167	42,167
Consumer
Origination year
Total Loans Receivable	98,001	98,001
Gross write-offs
Total Loans Receivable	2	13
Consumer | Real estate one-to-four family
Origination year
2022	61,048	61,048
2021	4,194	4,194
2020	4,411	4,411
Prior	15,183	15,183
Revolving Loans	11,430	11,430
Total Loans Receivable	96,266	96,266
Consumer | Other installment
Origination year
2024	311	311
2023	612	612
2022	223	223
2021	86	86
2020	34	34
Prior	18	18
Revolving Loans	451	451
Total Loans Receivable	1,735	1,735
Gross write-offs
2023		11
Prior		2
Total Loans Receivable		13
Pass
Origination year
2024	52,246	52,246
2023	161,279	161,279
2022	340,370	340,370
2021	131,765	131,765
2020	84,721	84,721
Prior	195,380	195,380
Revolving Loans	15,012	15,012
Total Loans Receivable	980,773	980,773
Pass | Commercial Real Estate Portfolio Segment | Commercial Business
Origination year
2024	10,078	10,078
2023	63,586	63,586
2022	87,431	87,431
2021	30,264	30,264
2020	17,299	17,299
Prior	13,038	13,038
Revolving Loans	3,131	3,131
Total Loans Receivable	224,827	224,827
Pass | Commercial Real Estate Portfolio Segment | Commercial Real Estate
Origination year
2024	24,867	24,867
2023	60,034	60,034
2022	148,293	148,293
2021	90,346	90,346
2020	53,902	53,902
Prior	163,891	163,891
Total Loans Receivable	541,333	541,333
Pass | Commercial Real Estate Portfolio Segment | Land
Origination year
2024	3,501	3,501
2023	2,361	2,361
2022	98	98
2021	1,809	1,809
2020	110	110
Prior	454	454
Total Loans Receivable	8,333	8,333
Pass | Commercial Real Estate Portfolio Segment | Multi-Family
Origination year
2024	684	684
2023	17,150	17,150
2022	32,221	32,221
2021	5,066	5,066
2020	8,965	8,965
Prior	2,834	2,834
Total Loans Receivable	66,920	66,920
Pass | Commercial Real Estate Portfolio Segment | Real Estate Construction
Origination year
2024	12,805	12,805
2023	17,536	17,536
2022	11,056	11,056
Total Loans Receivable	41,397	41,397
Pass | Consumer | Real estate one-to-four family
Origination year
2022	61,048	61,048
2021	4,194	4,194
2020	4,411	4,411
Prior	15,145	15,145
Revolving Loans	11,430	11,430
Total Loans Receivable	96,228	96,228
Pass | Consumer | Other installment
Origination year
2024	311	311
2023	612	612
2022	223	223
2021	86	86
2020	34	34
Prior	18	18
Revolving Loans	451	451
Total Loans Receivable	1,735	1,735
Special Mention
Origination year
2024	770	770
2023	4,388	4,388
2022	1,676	1,676
2020	587	587
Prior	27,293	27,293
Revolving Loans	2,497	2,497
Total Loans Receivable	37,211	37,211
Special Mention | Commercial Real Estate Portfolio Segment | Commercial Business
Origination year
2023	251	251
2022	773	773
2020	552	552
Prior	286	286
Revolving Loans	2,497	2,497
Total Loans Receivable	4,359	4,359
Special Mention | Commercial Real Estate Portfolio Segment | Commercial Real Estate
Origination year
2023	3,780	3,780
2022	903	903
Prior	26,975	26,975
Total Loans Receivable	31,658	31,658
Special Mention | Commercial Real Estate Portfolio Segment | Land
Origination year
2023	357	357
Total Loans Receivable	357	357
Special Mention | Commercial Real Estate Portfolio Segment | Multi-Family
Origination year
2020	35	35
Prior	32	32
Total Loans Receivable	67	67
Special Mention | Commercial Real Estate Portfolio Segment | Real Estate Construction
Origination year
2024	770	770
Total Loans Receivable	770	770
Substandard
Origination year
Prior	215	215
Total Loans Receivable	215	215
Substandard | Commercial Real Estate Portfolio Segment | Commercial Business
Origination year
Prior	63	63
Total Loans Receivable	63	63
Substandard | Commercial Real Estate Portfolio Segment | Commercial Real Estate
Origination year
Prior	84	84
Total Loans Receivable	84	84
Substandard | Commercial Real Estate Portfolio Segment | Multi-Family
Origination year
Prior	30	30
Total Loans Receivable	30	30
Substandard | Consumer | Real estate one-to-four family
Origination year
Prior	38	38
Total Loans Receivable	$ 38	$ 38

LOANS AND ALLOWANCE FOR CREDI_5

LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS - Reconciliation of the allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of the allowance for loan losses
Beginning balance	$ 15,346		$ 15,309
Charge-offs	(2)		(13)
Recoveries	17		23
Ending balance	15,361		15,361
Reconciliation of the allowance for loan losses
Beginning balance		$ 14,552	15,309	$ 14,523
Charge-offs				(16)
Recoveries		6		51
Ending balance		14,558		14,558
Adjustment | ASU 2016-13
Reconciliation of the allowance for loan losses
Beginning balance			42
Commercial Real Estate Portfolio Segment | Commercial Business
Reconciliation of the allowance for loan losses
Beginning balance	5,339		3,123
Provision for (recapture of) credit losses	(74)		258
Ending balance	5,265		5,265
Reconciliation of the allowance for loan losses
Beginning balance		2,789	3,123	2,422
Provision for (recapture of) loan losses		101		468
Ending balance		2,890		2,890
Commercial Real Estate Portfolio Segment | Commercial Business | Adjustment | ASU 2016-13
Reconciliation of the allowance for loan losses
Beginning balance			1,884
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Reconciliation of the allowance for loan losses
Beginning balance	7,138		8,894
Provision for (recapture of) credit losses	141		(121)
Ending balance	7,279		7,279
Reconciliation of the allowance for loan losses
Beginning balance		8,230	8,894	9,037
Provision for (recapture of) loan losses		(254)		(1,061)
Ending balance		7,976		7,976
Commercial Real Estate Portfolio Segment | Commercial Real Estate | Adjustment | ASU 2016-13
Reconciliation of the allowance for loan losses
Beginning balance			(1,494)
Commercial Real Estate Portfolio Segment | Land
Reconciliation of the allowance for loan losses
Beginning balance	112		93
Provision for (recapture of) credit losses	45		24
Ending balance	157		157
Reconciliation of the allowance for loan losses
Beginning balance		124	93	168
Provision for (recapture of) loan losses		(26)		(70)
Ending balance		98		98
Commercial Real Estate Portfolio Segment | Land | Adjustment | ASU 2016-13
Reconciliation of the allowance for loan losses
Beginning balance			40
Commercial Real Estate Portfolio Segment | Multi-Family
Reconciliation of the allowance for loan losses
Beginning balance	293		798
Provision for (recapture of) credit losses	41		28
Ending balance	334		334
Reconciliation of the allowance for loan losses
Beginning balance		856	798	845
Provision for (recapture of) loan losses		(41)		(30)
Ending balance		815		815
Commercial Real Estate Portfolio Segment | Multi-Family | Adjustment | ASU 2016-13
Reconciliation of the allowance for loan losses
Beginning balance			(492)
Commercial Real Estate Portfolio Segment | Real Estate Construction
Reconciliation of the allowance for loan losses
Beginning balance	860		764
Provision for (recapture of) credit losses	(129)		(164)
Ending balance	731		731
Reconciliation of the allowance for loan losses
Beginning balance		638	764	393
Provision for (recapture of) loan losses		206		451
Ending balance		844		844
Commercial Real Estate Portfolio Segment | Real Estate Construction | Adjustment | ASU 2016-13
Reconciliation of the allowance for loan losses
Beginning balance			131
Consumer
Reconciliation of the allowance for loan losses
Beginning balance	1,604		1,127
Provision for (recapture of) credit losses	(24)		(25)
Charge-offs	(2)		(13)
Recoveries	17		23
Ending balance	$ 1,595		1,595
Reconciliation of the allowance for loan losses
Beginning balance		1,225	1,127	943
Provision for (recapture of) loan losses		(42)		211
Charge-offs				(16)
Recoveries		6		51
Ending balance		1,189		1,189
Consumer | Adjustment | ASU 2016-13
Reconciliation of the allowance for loan losses
Beginning balance			483
Unallocated
Reconciliation of the allowance for loan losses
Beginning balance			510
Reconciliation of the allowance for loan losses
Beginning balance		690	510	715
Provision for (recapture of) loan losses		56		31
Ending balance		$ 746		$ 746
Unallocated | Adjustment | ASU 2016-13
Reconciliation of the allowance for loan losses
Beginning balance			$ (510)

LOANS AND ALLOWANCE FOR CREDI_6

LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS - Impaired Financing Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022
Allowance for Loan Losses
Individually evaluated for impairment		$ 6
Collectively Evaluated for Impairment		15,303
Loans and Leases Receivable, Allowance, Total		15,309	$ 14,558	$ 14,552	$ 14,523
Recorded Investment in Loans
Total Loans Receivable	$ 1,018,199
Individually Evaluated for Impairment		629
Collectively Evaluated for Impairment		1,008,227
Total		1,008,856
Commercial Real Estate Portfolio Segment
Recorded Investment in Loans
Total Loans Receivable	920,198
Commercial Real Estate Portfolio Segment | Commercial Business
Allowance for Loan Losses
Individually evaluated for impairment		0
Collectively Evaluated for Impairment		3,123
Loans and Leases Receivable, Allowance, Total		3,123	2,890	2,789	2,422
Recorded Investment in Loans
Total Loans Receivable	229,249
Individually Evaluated for Impairment		79
Collectively Evaluated for Impairment		232,789
Total		232,868
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Allowance for Loan Losses
Individually evaluated for impairment		0
Collectively Evaluated for Impairment		8,894
Loans and Leases Receivable, Allowance, Total		8,894	7,976	8,230	9,037
Recorded Investment in Loans
Total Loans Receivable	573,075
Individually Evaluated for Impairment		100
Collectively Evaluated for Impairment		564,396
Total		564,496
Commercial Real Estate Portfolio Segment | Land
Allowance for Loan Losses
Individually evaluated for impairment		0
Collectively Evaluated for Impairment		93
Loans and Leases Receivable, Allowance, Total		93	98	124	168
Recorded Investment in Loans
Total Loans Receivable	8,690
Individually Evaluated for Impairment		0
Collectively Evaluated for Impairment		6,437
Total		6,437
Commercial Real Estate Portfolio Segment | Multi-Family
Allowance for Loan Losses
Individually evaluated for impairment		0
Collectively Evaluated for Impairment		798
Loans and Leases Receivable, Allowance, Total		798	815	856	845
Recorded Investment in Loans
Total Loans Receivable	67,017
Individually Evaluated for Impairment		0
Collectively Evaluated for Impairment		55,836
Total		55,836
Commercial Real Estate Portfolio Segment | Real Estate Construction
Allowance for Loan Losses
Individually evaluated for impairment		0
Collectively Evaluated for Impairment		764
Loans and Leases Receivable, Allowance, Total		764	844	638	393
Recorded Investment in Loans
Total Loans Receivable	42,167
Individually Evaluated for Impairment		0
Collectively Evaluated for Impairment		47,762
Total		47,762
Consumer
Allowance for Loan Losses
Individually evaluated for impairment		6
Collectively Evaluated for Impairment		1,121
Loans and Leases Receivable, Allowance, Total		1,127	1,189	1,225	943
Recorded Investment in Loans
Total Loans Receivable	$ 98,001
Individually Evaluated for Impairment		450
Collectively Evaluated for Impairment		101,007
Total		101,457
Unallocated
Allowance for Loan Losses
Individually evaluated for impairment		0
Collectively Evaluated for Impairment		510
Loans and Leases Receivable, Allowance, Total		510	$ 746	$ 690	$ 715
Recorded Investment in Loans
Individually Evaluated for Impairment		0
Collectively Evaluated for Impairment		0
Total		$ 0

LOANS AND ALLOWANCE FOR CREDI_7

LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS - Analysis of loans by aging category (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	$ 186	$ 283
Total Past Due and Non-accrual	4,916	3,830
Total loans	1,018,199
Total loans		1,008,856
30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	4,730
Total loans		1,978
90 Days and Greater Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans		1,569
Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,013,283
Total loans		1,005,026
Commercial Real Estate Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	920,198
Total loans		907,399
Commercial Real Estate Portfolio Segment | Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	63	97
Total Past Due and Non-accrual	3,959	3,633
Total loans	229,249
Total loans		232,868
Commercial Real Estate Portfolio Segment | Commercial Business | 30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	3,896
Total loans		1,967
Commercial Real Estate Portfolio Segment | Commercial Business | 90 Days and Greater Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans		1,569
Commercial Real Estate Portfolio Segment | Commercial Business | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	225,290
Total loans		229,235
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	85	100
Total Past Due and Non-accrual	906	100
Total loans	573,075
Total loans		564,496
Commercial Real Estate Portfolio Segment | Commercial Real Estate | 30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	821
Commercial Real Estate Portfolio Segment | Commercial Real Estate | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	572,169
Total loans		564,396
Commercial Real Estate Portfolio Segment | Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	8,690
Total loans		6,437
Commercial Real Estate Portfolio Segment | Land | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	8,690
Total loans		6,437
Commercial Real Estate Portfolio Segment | Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	67,017
Total loans		55,836
Commercial Real Estate Portfolio Segment | Multi-Family | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	67,017
Total loans		55,836
Commercial Real Estate Portfolio Segment | Real Estate Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	42,167
Total loans		47,762
Commercial Real Estate Portfolio Segment | Real Estate Construction | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	42,167
Total loans		47,762
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual	38	86
Total Past Due and Non-accrual	51	97
Total loans	98,001
Total loans		101,457
Consumer | 30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	13
Total loans		11
Consumer | Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 97,950
Total loans		$ 101,360

LOANS AND ALLOWANCE FOR CREDI_8

LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS - Credit Quality Indicators (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	$ 1,008,856
Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	987,074
Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	19,135
Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	2,647
Commercial Real Estate Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	907,399
Commercial Real Estate Portfolio Segment | Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	232,868
Commercial Real Estate Portfolio Segment | Commercial Business | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	231,384
Commercial Real Estate Portfolio Segment | Commercial Business | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	1,367
Commercial Real Estate Portfolio Segment | Commercial Business | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	117
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	564,496
Commercial Real Estate Portfolio Segment | Commercial Real Estate | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	544,426
Commercial Real Estate Portfolio Segment | Commercial Real Estate | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	17,626
Commercial Real Estate Portfolio Segment | Commercial Real Estate | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	2,444
Commercial Real Estate Portfolio Segment | Land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	6,437
Commercial Real Estate Portfolio Segment | Land | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	6,437
Commercial Real Estate Portfolio Segment | Multi-Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	55,836
Commercial Real Estate Portfolio Segment | Multi-Family | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	55,694
Commercial Real Estate Portfolio Segment | Multi-Family | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	142
Commercial Real Estate Portfolio Segment | Real Estate Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	47,762
Commercial Real Estate Portfolio Segment | Real Estate Construction | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	47,762
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	101,457
Consumer | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	101,371
Consumer | Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	$ 86

LOANS AND ALLOWANCE FOR CREDI_9

LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS - Average recorded investment in impaired loans (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	$ 534
Recorded Investment with Specific Valuation Allowance	95
Total Recorded Investment	629
Unpaid Principal Balance	731
Related Specific Valuation Allowance	6
Commercial Real Estate Portfolio Segment | Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	79
Recorded Investment with Specific Valuation Allowance	0
Total Recorded Investment	79
Unpaid Principal Balance	127
Related Specific Valuation Allowance	0
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	100
Recorded Investment with Specific Valuation Allowance	0
Total Recorded Investment	100
Unpaid Principal Balance	162
Related Specific Valuation Allowance	0
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment with No Specific Valuation Allowance	355
Recorded Investment with Specific Valuation Allowance	95
Total Recorded Investment	450
Unpaid Principal Balance	442
Related Specific Valuation Allowance	$ 6

LOANS AND ALLOWANCE FOR CRED_10

LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS - Impaired Loans, Average Recorded Investment and Interest Recognized (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2022	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	$ 667	$ 687
Interest Recognized on Impaired Loans	5	17
Commercial Real Estate Portfolio Segment | Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	87	92
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	109	114
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	471	481
Interest Recognized on Impaired Loans	$ 5	$ 17

LOANS AND ALLOWANCE FOR CRED_11

LOANS AND ALLOWANCE FOR CREDIT LOSSES FOR LOANS - Additional information (Details)	3 Months Ended	9 Months Ended		12 Months Ended
	Dec. 31, 2023 USD ($) loan	Dec. 31, 2023 USD ($) loan	Dec. 31, 2022 USD ($)	Mar. 31, 2023 USD ($) loan	Sep. 30, 2023 USD ($)	Apr. 01, 2023 USD ($) loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Deferred loan fees	$ 4,700,000	$ 4,700,000		$ 4,400,000
Discount On Loans Receivable	1,300,000	1,300,000		1,400,000
Premiums On Loans Receivable.	1,900,000	1,900,000		$ 2,100,000
Loans Pledged as Collateral	1,002,838,000	$ 1,002,838,000
Percentage Of Loans And Extensions Of Credit Outstanding		15%
Number of loans to one borrower over regulatory limit | loan		0		0
Allowance for credit losses (in dollars)	15,361,000	$ 15,361,000		$ 15,309,000	$ 15,346,000
Non-accrual loans with no ACL	148,000	148,000
Non-accrual loans with ACL	38,000	38,000
Non-accruals, Allowance	1,000	1,000
Interest income foregone on non-accrual loans		8,000	$ 10,000	14,000
Total loans	$ 1,018,199,000	$ 1,018,199,000
Number of loan modifications approved | loan	0	0
Percentage of delinquent loan amount		75%
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts			0
30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 4,730,000	$ 4,730,000
ASU 2016-13
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number Of impaired loans on nonaccrual status | loan						2
Adjustment | ASU 2016-13
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses (in dollars)				42,000		$ 42,000
Fully Guaranteed SBA Or USDA Loans | 30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,400,000	1,400,000
Asset Pledged as Collateral | FHLB and FRB Borrowing Arrangements
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Pledged as Collateral	617,900,000	617,900,000
Asset Pledged as Collateral | Financing receivable | Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Pledged as Collateral	63,000	63,000
Asset Pledged as Collateral | Financing receivable | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Pledged as Collateral	85,000	85,000
Commercial Real Estate Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	920,198,000	920,198,000
Commercial Real Estate Portfolio Segment | Commercial Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses (in dollars)	5,265,000	5,265,000		3,123,000	5,339,000
Total loans	229,249,000	229,249,000
Commercial Real Estate Portfolio Segment | Commercial Business | 30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	3,896,000	3,896,000
Commercial Real Estate Portfolio Segment | Commercial Business | Adjustment | ASU 2016-13
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses (in dollars)				1,884,000
Commercial Real Estate Portfolio Segment | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses (in dollars)	7,279,000	7,279,000		8,894,000	7,138,000
Total loans	573,075,000	573,075,000
Commercial Real Estate Portfolio Segment | Commercial Real Estate | 30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	821,000	821,000
Commercial Real Estate Portfolio Segment | Commercial Real Estate | Adjustment | ASU 2016-13
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses (in dollars)				(1,494,000)
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses (in dollars)	1,595,000	1,595,000		1,127,000	$ 1,604,000
Total loans	98,001,000	98,001,000
Consumer | 30 To 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	13,000	13,000
Consumer | Adjustment | ASU 2016-13
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses (in dollars)				$ 483,000
Consumer | Real estate one-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 96,266,000	$ 96,266,000

GOODWILL (Details)

GOODWILL (Details) $ in Thousands		9 Months Ended
	Oct. 31, 2023 USD ($)	Dec. 31, 2023 item
GOODWILL
Number of Reporting Units | item		2
Goodwill impairment | $	$ 0

FEDERAL HOME LOAN BANK ADVANC_3

FEDERAL HOME LOAN BANK ADVANCES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
FEDERAL HOME LOAN BANK ADVANCES
FHLB advances	$ 157,054	$ 123,754
Weighted average interest rate on FHLB advances	5.37%	4.88%

FEDERAL HOME LOAN BANK ADVANC_4

FEDERAL HOME LOAN BANK ADVANCES - Additional Information (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2023 USD ($)
FEDERAL HOME LOAN BANK ADVANCES
Loans pledged as collateral	$ 1,002,838
Assets pledged as collateral
FEDERAL HOME LOAN BANK ADVANCES
Percentage of total assets equal to bank credit line from FHLB	45%
Bank additional borrowing capacity from FHLB	$ 137,800
Assets pledged as collateral | FHLB advances
FEDERAL HOME LOAN BANK ADVANCES
Loans pledged as collateral	$ 492,700

JUNIOR SUBORDINATED DEBENTURE_2

JUNIOR SUBORDINATED DEBENTURES (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
JUNIOR SUBORDINATED DEBENTURES
Amount Outstanding	$ 27,836
Fair value adjustment	(854)
Total Debentures	$ 26,982	$ 26,918
Riverview Bancorp Statutory Trust I
JUNIOR SUBORDINATED DEBENTURES
Issuance Date	Dec. 01, 2005
Amount Outstanding	$ 7,217
Rate Type	Variable
Initial Rate	5.88%
Current Rate	7.01%
Maturity Date	2036-03
Riverview Bancorp Statutory Trust II
JUNIOR SUBORDINATED DEBENTURES
Issuance Date	Jun. 01, 2007
Amount Outstanding	$ 15,464
Rate Type	Variable
Initial Rate	7.03%
Current Rate	7%
Maturity Date	2037-09
Merchants Bancorp Statutory Trust I
JUNIOR SUBORDINATED DEBENTURES
Issuance Date	Jun. 01, 2003
Amount Outstanding	$ 5,155
Rate Type	Variable
Initial Rate	4.16%
Current Rate	8.72%
Maturity Date	2033-06

JUNIOR SUBORDINATED DEBENTURE_3

JUNIOR SUBORDINATED DEBENTURES - Additional Information (Details)	9 Months Ended
	Dec. 31, 2023 USD ($) item	Mar. 31, 2023 USD ($)
JUNIOR SUBORDINATED DEBENTURES
Maximum number of consecutive quarters for deferred payment of each debenture | item	20
Debentures issued to grantor trusts	$ 27,000,000	$ 26,900,000
Common securities issued by grantor trusts	$ 836,000	$ 836,000
Riverview Bancorp Statutory Trust I
JUNIOR SUBORDINATED DEBENTURES
Description of variable rate	three-month Chicago Mercantile Exchange (“CME”) Term SOFR
Interest basis spread on variable rate	1.36%
Riverview Bancorp Statutory Trust II
JUNIOR SUBORDINATED DEBENTURES
Description of variable rate	three-month CME Term SOFR
Interest basis spread on variable rate	1.35%
Merchants Bancorp Statutory Trust I
JUNIOR SUBORDINATED DEBENTURES
Description of variable rate	three-month CME Term SOFR
Interest basis spread on variable rate	3.10%

FAIR VALUE MEASUREMENTS - Estim

FAIR VALUE MEASUREMENTS - Estimated Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers of assets from level 1 to level 2	$ 0	$ 0
Transfers of assets from level 2 to level 1	0	0
Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	196,461	211,499
Recurring basis | 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	40,307	40,261
Recurring basis | 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	83,992	85,907
Recurring basis | 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	26,420	28,877
Recurring basis | 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	13,296	15,471
Recurring basis | 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	32,446	40,983
Recurring basis | 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	196,461	211,499
Recurring basis | 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	40,307	40,261
Recurring basis | 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	83,992	85,907
Recurring basis | 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	26,420	28,877
Recurring basis | 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	13,296	15,471
Recurring basis | 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	$ 32,446	$ 40,983

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets Measured at Fair Value on a Non-recurring Basis (Details) - Nonrecurring basis - Impaired loans $ in Thousands	Mar. 31, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total nonrecurring assets measured at fair value	$ 89
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total nonrecurring assets measured at fair value	$ 89

FAIR VALUE MEASUREMENTS - Level

FAIR VALUE MEASUREMENTS - Level 3 inputs for financial instruments measured at fair value (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans Valuation Technique [Extensible Enumeration]	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Impaired Loans Measurement Input [Extensible Enumeration]	Discount rate
Adjustments to the appraised values of impaired loans	$ 0
Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	5.375%

FAIR VALUE MEASUREMENTS - Carry

FAIR VALUE MEASUREMENTS - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities held to maturity	$ 200,475	$ 210,214
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	196,461	211,499
Investment securities held to maturity	232,659	243,843
Carrying Value | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	37,553	22,044
Carrying Value | Certificates of deposit held for investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		249
Carrying Value | Loans Receivable.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	1,002,838	993,547
Carrying Value | FHLB stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	8,026	6,867
Carrying Value | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	170,491	128,833
Carrying Value | FHLB advances
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	157,054	123,754
Carrying Value | Junior subordinated debentures.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	26,982	26,918
Total Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	196,461	211,499
Investment securities held to maturity	200,475	210,214
Total Estimated Fair Value | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	37,553	22,044
Total Estimated Fair Value | Certificates of deposit held for investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		248
Total Estimated Fair Value | Loans Receivable.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	940,461	931,784
Total Estimated Fair Value | FHLB stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	8,026	6,867
Total Estimated Fair Value | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	168,101	126,072
Total Estimated Fair Value | FHLB advances
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	156,960	123,679
Total Estimated Fair Value | Junior subordinated debentures.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	18,989	17,698
Level 1 | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	37,553	22,044
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	196,461	211,499
Investment securities held to maturity	200,475	210,214
Level 2 | Certificates of deposit held for investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		248
Level 2 | FHLB stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	8,026	6,867
Level 2 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	168,101	126,072
Level 2 | FHLB advances
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	156,960	123,679
Level 3 | Loans Receivable.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	940,461	931,784
Level 3 | Junior subordinated debentures.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	$ 18,989	$ 17,698

NEW ACCOUNTING PRONOUNCEMENTS (

NEW ACCOUNTING PRONOUNCEMENTS (Details)	3 Months Ended	9 Months Ended
	Dec. 31, 2023 USD ($) loan	Dec. 31, 2023 USD ($) loan	Sep. 30, 2023 USD ($)	Apr. 01, 2023 USD ($)	Mar. 31, 2023 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 120,734,000	$ 120,734,000			$ 117,826,000
Allowance for credit losses (in dollars)	$ 15,361,000	$ 15,361,000	$ 15,346,000		15,309,000
Number of loan modifications approved | loan	0	0
Recoveries	$ 17,000	$ 23,000
Loan write off	2,000	13,000
Consumer
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses (in dollars)	1,595,000	1,595,000	$ 1,604,000		1,127,000
Recoveries	17,000	23,000
Loan write off	$ 2,000	13,000
Consumer | Other installment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loan write off		13,000
ASU 2016-13 | Consumer | Other installment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Recoveries		23,000
Loan write off		$ 13,000
Adjustment | ASU 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings				$ 53,000
Allowance for credit losses (in dollars)				42,000	42,000
Credit losses on unfunded commitments				$ 28,000
Adjustment | ASU 2016-13 | Consumer
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses (in dollars)					$ 483,000

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Revenue from External Customer [Line Items]
BOLI	$ 211	$ 194	$ 669	$ 626
FHLMC loan servicing fees	21	13	64	55
Total non-interest income, net	3,056	2,963	9,748	9,223
Contract with customer liability	0		0
Revenue remaining performance obligation	0	0	0	0
Asset management fees.
Revenue from External Customer [Line Items]
Non-interest income	1,266	1,137	3,920	3,459
Debit card and ATM fees
Revenue from External Customer [Line Items]
Non-interest income	808	803	2,500	2,598
Deposit related fees
Revenue from External Customer [Line Items]
Non-interest income	465	427	1,374	1,304
Loan related fees
Revenue from External Customer [Line Items]
Non-interest income	99	99	471	422
Other, net
Revenue from External Customer [Line Items]
Non-interest income	$ 186	$ 290	$ 750	$ 759

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Significant Off-balance Sheet Commitments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	$ 173,192
Commitments to extend credit: | Adjustable-rate
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	9,837
Commitments to extend credit: | Fixed-rate
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	52
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	1,600
Undisbursed loan funds and unused lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total	$ 161,703

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Additional Information (Details)	9 Months Ended
	Dec. 31, 2023 USD ($)
COMMITMENTS AND CONTINGENCIES
Threshold limit for honoring of commitments	45 days
Loans under warranty	$ 32,700,000
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	Dec. 31, 2023	Mar. 31, 2023
LEASES
Finance lease ROU assets	$ 1,221	$ 1,278
Finance lease liability	$ 2,184	$ 2,229
Finance lease remaining lease term	15 years 11 months 4 days	16 years 8 months 4 days
Finance lease discount rate	7.16%	7.16%
Operating lease ROU assets	$ 5,788	$ 6,705
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets.	Prepaid Expense and Other Assets.
Operating lease liabilities	$ 6,105	$ 7,064
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accrued Liabilities and Other Liabilities, Total	Accrued Liabilities and Other Liabilities, Total
Operating lease weighted-average remaining lease term	5 years 6 months 10 days	6 years 1 month 24 days
Operating lease weighted-average discount rate	1.75%	1.78%

LEASES - Lease Costs for Operat

LEASES - Lease Costs for Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
LEASES
Finance lease amortization of ROU asset	$ 20	$ 20	$ 58	$ 58
Finance lease interest on lease liability	39	41	119	122
Operating lease costs	283	283	849	849
Variable lease costs	53	52	157	157
Total lease cost	$ 395	$ 396	$ 1,183	$ 1,186

LEASES - Undiscounted Cash Flow

LEASES - Undiscounted Cash Flows (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Operating Leases
Remainder of Fiscal 2024	$ 345
2025	1,375
2026	1,125
2027	1,116
2028	899
Thereafter	1,631
Total minimum lease payments	6,491
Less: amount of lease payment representing interest	(386)
Lease liabilities	6,105	$ 7,064
Finance Lease
Remainder of Fiscal 2024	56
2025	222
2026	226
2027	230
2028	232
Thereafter	2,711
Total minimum lease payments	3,677
Less: amount of lease payment representing interest	(1,493)
Lease liabilities	$ 2,184	$ 2,229

LEASES - Additional Information

LEASES - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
LEASES
Operating lease	$ 343,000	$ 338,000	$ 1,000,000	$ 1,000,000
ROU lease assets obtained in exchange for operating lease liabilities	$ 0	$ 0	$ 0	$ 0

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 1,452,000	$ 5,240,000	$ 6,767,000	$ 15,086,000

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted		false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false