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Leases | 6 Months Ended
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Mar. 31, 2022
Leases [Abstract] |
Leases | LEASES The Company adopted the Financial Accounting Standard Board's ("FASB's") Accounting Standards Codification ("ASC") 842, Leases ("ASC 842") on October 1, 2019 and began recording operating lease liabilities and operating lease ROU assets in the consolidated balance sheets. The Company has operating leases for three retail bank branch offices. The ROU assets totaled $2.89 million at October 1, 2019. The Company's leases have remaining lease terms of sixteen months to eleven years, some of which include options to extend the leases for up to five years. The components of lease cost (included in the premises and equipment expense category in the consolidated statements of income) are as follows for the three and six months ended March 31, 2022 and 2021 (dollars in thousands):
| Three Months Ended March 31, |  | Six Months Ended March 31,
Lease cost: | 2022 |  | 2021 |  | 2022 |  | 2021
Operating lease cost | $ | 94 |  | $ | 92 |  | $ | 188 |  |  | $ | 185 |
Short-term lease cost | — |  | — |  | — |  |  | — |
Total lease cost | $ | 94 |  |  | $ | 92 |  |  | $ | 188 |  |  | $ | 185 |
The following tables provide supplemental information related to operating leases at or for the three and six months ended March 31, 2022 and 2021 (dollars in thousands):
| At or For the Three Months Ended March 31, 2022 |  | At or For the Six Months Ended March 31, 2022 |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 87 |  |  | $ | 174 |  |  |  |  |
Weighted average remaining lease term-operating leases | 8.1 years |  | 8.1 years |  |  |  |
Weighted average discount rate-operating leases | 2.24 | % |  | 2.24 | % |  |  |  |
| At or For the Three Months Ended March 31, 2021 |  | At or For Six Months Ended March 31, 2021 |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 80 |  |  | $ | 160 |  |  |  |  |
Weighted average remaining lease term-operating leases | 8.8 years |  | 8.8 years |  |  |  |
Weighted average discount rate-operating leases | 2.23 | % |  | 2.23 | % |  |  |  |
The Company's leases typically do not contain a discount rate implicit in the lease contracts. As an alternative, the weighted average discount rate used to estimate the present value of future lease payments in calculating the value of the ROU asset and liability was determined by utilizing the September 30, 2019 fixed-rate advances issued by the FHLB, for all leases entered into prior to the October 1, 2019 adoption date. Maturities of operating lease liabilities at March 31, 2022 for future fiscal years are as follows (dollars in thousands):
Remainder of 2022 | $ | 168 |
2023 | 310 |
2024 | 313 |
2025 | 317 |
2026 | 284 |
Thereafter | 1,038 |
Total lease payments | 2,430 |
Less imputed interest | 220 |
Total | $ | 2,210 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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