Central Plains Bancshares, Inc. Leases Disclosure
Note 13 -LEASES
The Association leases office space under operating leases that expire at various dates through October 2030.
Rent expense, which is included in occupancy expenses on the consolidated statements of income, was $79,000 and $75,000 for the years ended March 31, 2025 and 2024, respectively.
The following table shows the future undiscounted lease payments required under the leases described above as of March 31, 2025:
12 Months Ending March 31, |
|
Operating Leases |
|
|
|
|
(Dollars in thousands) |
|
|
2026 |
|
$ |
54 |
|
2027 |
|
|
42 |
|
2028 |
|
|
37 |
|
2029 |
|
|
37 |
|
2030 |
|
|
38 |
|
Thereafter |
|
|
56 |
|
Total undiscounted lease payments |
|
$ |
264 |
|
Less: Imputed interest |
|
|
(20 |
) |
|
$ |
244 |
|
|
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.