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Fair Value Measurements (Tables)

12 Months Ended

Sep. 30, 2024

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 September 30, 2024 and 2023 are as follows (dollars in thousands):

			Estimated Fair Value
September 30, 2024			Level 1						Level 2						Level 3						Total
Available for sale investment securities
MBS: U.S. government agencies			$	3,939					$	68,318					$	—					$	72,257
Investments in equity securities
Mutual funds			866						—						—						866
Total			$	4,805					$	68,318					$	—					$	73,123

September 30, 2023
Available for sale investment securities
MBS: U.S. government agencies			$	—					$	41,771					$	—					$	41,771
Investments in equity securities
Mutual funds			811						—						—						811
Total			$	811					$	41,771					$	—					$	42,582

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 September 30, 2024 and 2023 (dollars in thousands):

						Total Estimated						Estimated Fair Value Measurements Using
						Fair Value						Level 1						Level 2						Level 3
September 30, 2024
Individually evaluated collateral-dependent loans						$	1,315					$	—					$	—					$	1,315
September 30, 2023
Impaired loans						$	122					$	—					$	—					$	122

The following table presents quantitative information about Level 3 inputs for financial instruments measured at fair value on a non-recurring basis at September 30, 2024 and 2023:

Valuation Technique

Significant Unobservable Inputs

Range

Individually evaluated collateral-dependent loans (2024) and impaired loans (2023)

Market approach

Appraised value less selling costs

N/A

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 September 30, 2024 (dollars in thousands):

															Fair Value Measurements Using:
			Recorded Amount						Estimated Fair Value						Level 1						Level 2						Level 3
Financial Assets
Cash and cash equivalents			$	164,728					$	164,728					$	164,728					$	—					$	—
CDs held for investment			10,209						10,209						10,209						—						—
Investment securities			244,354						238,264						146,141						92,123						—
Investments in equity securities			866						866						866						—						—
FHLB stock			2,037						2,037						2,037						—						—
Other investments			3,000						3,000						3,000						—						—
Loans receivable, net			1,421,523						1,387,642						—						—						1,387,642
Accrued interest receivable			6,990						6,990						6,990						—						—
Financial Liabilities
Certificates of deposit			368,308						368,312						—						—						368,312
FHLB borrowings			20,000						20,035						—						—						20,035
Accrued interest payable			2,132						2,132						2,132						—						—

The recorded amounts and estimated fair values of financial instruments were as follows as of September 30, 2023 (dollars in thousands):

															Fair Value Measurements Using:
			Recorded Amount						Estimated Fair Value						Level 1						Level 2						Level 3
Financial Assets
Cash and cash equivalents			$	128,721					$	128,721					$	128,721					$	—					$	—
CDs held for investment			15,188						15,188						15,188						—						—
Investment securities			311,989						295,538						161,538						134,000						—
Investments in equity securities			811						811						811						—						—
FHLB stock			3,602						3,602						3,602						—						—
Other investments			3,000						3,000						3,000						—						—
Loans held for sale			400						407						407						—						—
Loans receivable, net			1,302,305						1,246,538						—						—						1,246,538
Accrued interest receivable			6,004						6,004						6,004						—						—
Financial Liabilities
Certificates of deposit			300,100						297,542						—						—						297,542
FHLB borrowings			35,000						34,747						—						—						34,747
Accrued interest payable			1,397						1,397						1,397						—						—

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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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- 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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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X

- References

No definition available.

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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/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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