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Leases | 6 Months Ended
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Mar. 31, 2023
Leases [Abstract] |
Leases | LEASES At March 31, 2023, the Company has operating leases for two retail bank branch offices. The Company's leases have remaining lease terms of four to nine years, both of which include options to extend the leases for up to five years. Lease extensions are not certain, and the Company evaluates each lease based on the specific circumstances for the location to determine the probability of exercising the extensions in the calculation of ROU assets and liabilities. 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, 2023 and 2022 (dollars in thousands):
| Three Months Ended March 31, |  | Six Months Ended March 31,
Lease cost: | 2023 |  | 2022 |  | 2023 |  | 2022
Operating lease cost | $ | 85 |  | $ | 94 |  | $ | 174 |  |  | $ | 188 |
Short-term lease cost | — |  | — |  | — |  |  | — |
Total lease cost | $ | 85 |  |  | $ | 94 |  |  | $ | 174 |  |  | $ | 188 |
The following tables provide supplemental information related to operating leases at or for the three and six months ended March 31, 2023 and 2022 (dollars in thousands):
| At or For the Three Months Ended March 31, 2023 |  | At or For the Six Months Ended March 31, 2023 |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 78 |  |  | $ | 155 |  |  |  |  |  |  |
Weighted average remaining lease term-operating leases | 7.2 years |  | 7.2 years |  |  |  |  |  |
Weighted average discount rate-operating leases | 2.25 | % |  | 2.25 | % |  |  |  |  |  |
| 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 | %
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 lease liability was determined by utilizing the FHLB fixed-rate credit advance borrowing rate for the term correlating to the remaining term of each lease. Maturities of operating lease liabilities at March 31, 2023 for future fiscal years are as follows (dollars in thousands):
Remainder of 2023 | $ | 155 |
2024 | 313 |
2025 | 317 |
2026 | 284 |
2027 | 219 |
Thereafter | 820 |
Total lease payments | 2,108 |
Less imputed interest | 173 |
Total | $ | 1,935 |

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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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