XML 37 R28.htm IDEA: XBRL DOCUMENT
v3.22.1

Fair Value Measurements (Tables) | 6 Months Ended
--- | ---
Mar. 31, 2022
Fair Value Disclosures [Abstract] |
Fair Value, Assets Measured on Recurring Basis | The Company's assets measured at estimated fair value on a recurring basis at March 31, 2022 and September 30, 2021 were as follows (dollars in thousands):
March 31, 2022 | Estimated Fair Value |  |
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Available for sale investment securities |  |  |  |  |  |  |
MBS: U.S. government agencies | $ | — |  |  | $ | 50,624 |  |  | $ | — |  |  | $ | 50,624 |
Investments in equity securities |  |  |  |  |  |  |
Mutual funds | 902 |  |  | — |  |  | — |  |  | 902 |
Total | $ | 902 |  |  | $ | 50,624 |  |  | $ | — |  |  | $ | 51,526 |
September 30, 2021 | Estimated Fair Value |  |
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Available for sale investment securities |  |  |  |  |  |  |
MBS: U.S. government agencies | $ | — |  |  | $ | 63,176 |  |  | $ | — |  |  | $ | 63,176 |
Investments in equity securities |  |  |  |  |  |  |
Mutual funds | 955 |  |  | — |  |  | — |  |  | 955 |
Total | $ | 955 |  |  | $ | 63,176 |  |  | $ | — |  |  | $ | 64,131 |
Balances of Assets Measured at Estimated Fair Value, Nonrecurring Basis | The following table summarizes the balances of assets measured at estimated fair value on a non-recurring basis at March 31, 2022 (dollars in thousands):
| Estimated Fair Value |
| Level 1 |  | Level 2 |  | Level 3 |
Impaired loans: |  |  |  |  |  |
Commercial business loans | $ | — |  |  | $ | — |  |  | $ | 122 |  |
Total impaired loans | — |  |  | — |  |  | 122 |  |
Investment securities – held to maturity: |  |  |  |  |  |
MBS - private label residential | — |  |  | 1 |  |  | — |  |
OREO and other repossessed assets | — |  |  | — |  |  | 157 |  |
Total | $ | — |  |  | $ | 1 |  |  | $ | 279 |  |
The following table summarizes the balances of assets measured at estimated fair value on a non-recurring basis at September 30, 2021 (dollars in thousands):
| Estimated Fair Value |  |
| Level 1 |  | Level 2 |  | Level 3 |  |
Impaired loans: |  |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |  |
Land | $ | — |  |  | $ | — |  |  | $ | 286 |  |  |
Commercial business loans | — |  |  | — |  |  | 123 |  |  |
Total impaired loans | — |  |  | — |  |  | 409 |  |  |
Investment securities – held to maturity: |  |  |  |  |  |  |
MBS - private label residential | — |  |  | 10 |  |  | — |  |  |
OREO and other repossessed assets | — |  |  | — |  |  | 157 |  |  |
Total | $ | — |  |  | $ | 10 |  |  | $ | 566 |  |  |
Level 3 Fair Value Measurements, Nonrecurring Basis | The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis as of March 31, 2022 (dollars in thousands):
| Estimated Fair Value |  | Valuation Technique(s) |  | Unobservable Input(s) |  | Range
Impaired loans | $ | 122 |  |  | Market approach |  | Appraised value less estimated selling costs |  | NA
OREO and other repossessed assets | $ | 157 |  |  | Market approach |  | Lower of appraised value or listing price less estimated selling costs |  | NA
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis as of September 30, 2021 (dollars in thousands):
| Estimated Fair Value |  | Valuation Technique(s) |  | Unobservable Input(s) |  | Range
Impaired loans | $ | 409 |  |  | Market approach |  | Appraised value less estimated selling costs |  | NA
OREO and other repossessed assets | $ | 157 |  |  | Market approach |  | Lower of appraised value or listing price less estimated selling costs |  | NA
Balances of Assets and Liabilities Measured at Estimated Fair Value, Recurring Basis | The recorded amounts and estimated fair values of financial instruments were as follows as of March 31, 2022 and September 30, 2021 (dollars in thousands):
| March 31, 2022
|  |  |  |  | Fair Value Measurements Using:
| Recorded Amount |  | Estimated Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 492,302 |  |  | $ | 492,302 |  |  | $ | 492,302 |  |  | $ | — |  |  | $ | — |
CDs held for investment | 28,619 |  |  | 28,619 |  |  | 28,619 |  |  | — |  |  | — |
Investment securities | 240,029 |  |  | 235,331 |  |  | 137,802 |  |  | 97,529 |  |  | — |
Investments in equity securities | 902 |  |  | 902 |  |  | 902 |  |  | — |  |  | — |
FHLB stock | 2,194 |  |  | 2,194 |  |  | 2,194 |  |  | — |  |  | — |
Other investments | 3,000 |  |  | 3,000 |  |  | 3,000 |  |  | — |  |  | — |
Loans held for sale | 2,772 |  |  | 2,822 |  |  | 2,822 |  |  | — |  |  | — |
Loans receivable, net | 1,034,080 |  |  | 1,042,196 |  |  | — |  |  | — |  |  | 1,042,196 |
Accrued interest receivable | 3,927 |  |  | 3,927 |  |  | 3,927 |  |  | — |  |  | — |
Financial liabilities |  |  |  |  |  |  |  |  |
Certificates of deposit | 126,646 |  |  | 127,017 |  |  | — |  |  | — |  |  | 127,017 |
Accrued interest payable | 103 |  |  | 103 |  |  | 103 |  |  | — |  |  | — |
| September 30, 2021
|  |  |  |  | Fair Value Measurements Using:
| Recorded Amount |  | Estimated Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 580,196 |  |  | $ | 580,196 |  |  | $ | 580,196 |  |  | $ | — |  |  | $ | — |
CDs held for investment | 28,482 |  |  | 28,482 |  |  | 28,482 |  |  | — |  |  | — |
Investment securities | 132,278 |  |  | 133,286 |  |  | 28,670 |  |  | 104,616 |  |  | — |
Investments in equity securities | 955 |  |  | 955 |  |  | 955 |  |  | — |  |  | — |
FHLB stock | 2,103 |  |  | 2,103 |  |  | 2,103 |  |  | — |  |  | — |
Other investments | 3,000 |  |  | 3,000 |  |  | 3,000 |  |  | — |  |  | — |
Loans held for sale | 3,217 |  |  | 3,290 |  |  | 3,290 |  |  | — |  |  | — |
Loans receivable, net | 968,454 |  |  | 981,905 |  |  | — |  |  | — |  |  | 981,905 |
Accrued interest receivable | 3,745 |  |  | 3,745 |  |  | 3,745 |  |  | — |  |  | — |
Financial liabilities |  |  |  |  |  |  |  |  |
Certificates of deposit | 134,129 |  |  | 135,178 |  |  | — |  |  | — |  |  | 135,178 |
Accrued interest payable | 134 |  |  | 134 |  |  | 134 |  |  | — |  |  | — |

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration