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Leases | 3 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Leases | LEASES At December 31, 2023, the Company has operating leases for two retail bank branch offices and an administrative office. The Company's leases have remaining lease terms of two to eight years, and include options to extend the leases from two 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 operating lease ROU assets and lease 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 months ended December 31, 2023 and 2022 (dollars in thousands):
| Three Months Ended December 31, |  |
Lease cost: | 2023 |  | 2022 |  |  |  |
Operating lease cost | $ | 93 |  | $ | 88 |  |  |  |
Short-term lease cost | — |  | — |  |  |  |
Total lease cost | $ | 93 |  |  | $ | 88 |  |  |  |  |
The following tables provide supplemental information related to operating leases at or for the three months ended December 31, 2023 and year ended September 30, 2023 (dollars in thousands):
| At or For the Three Months Ended December 31, 2023 |  | At or For the Year Ended September 30, 2023 |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 82 |  |  | $ | 316 |  |  |  |  |  |  |  |  |
Weighted average remaining lease term-operating leases | 6.5 years |  | 6.7 years |  |  |  |  |  |  |  |
Weighted average discount rate-operating leases | 2.34 | % |  | 2.33 | % |  |  |  |  |  |  |  |
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 December 31, 2023 for future fiscal years are as follows (dollars in thousands):
Remainder of 2024 | $ | 250 |
2025 | 336 |
2026 | 304 |
2027 | 232 |
2028 | 219 |
Thereafter | 601 |
Total lease payments | 1,942 |
Less imputed interest | 146 |
Total | $ | 1,796 |

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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