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Income Taxes | 12 Months Ended
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Sep. 30, 2025
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The components of the provision for income taxes for the years ended September 30, 2025, 2024 and 2023 were as follows (dollars in thousands):
| 2025 |  | 2024 |  | 2023
Current: |  |  |  |  |
Federal | $ | 7,453 |  |  | $ | 6,506 |  |  | $ | 7,167 |
Deferred | (383) |  |  | (383) |  |  | (291) |
Provision for income taxes | $ | 7,070 |  |  | $ | 6,123 |  |  | $ | 6,876 |
At September 30, 2025 and 2024, the Company had income tax receivable of $290,000 and $80,000, respectively, which is included in other assets in the accompanying consolidated balance sheets. The components of the Company’s deferred tax assets and liabilities at September 30, 2025 and 2024 were as follows (dollars in thousands):
| 2025 |  | 2024
Deferred Tax Assets |  |  |
Allowance for credit losses | $ | 3,800 |  |  | $ | 3,670 |
Allowance for OREO losses | 5 |  |  | 5 |
OTTI credit impairment on investment securities | 38 |  |  | 50 |
Accrued interest on loans | 68 |  |  | 69 |
Deferred compensation and bonuses | 121 |  |  | 163 |
Reserve for loan commitments | 90 |  |  | 69 |
Operating lease liabilities | 646 |  |  | 331 |
Net unrealized losses on investment securities and investments in equity securities | 89 |  |  | 5 |
Other | 435 |  |  | 70 |
Total deferred tax assets | 5,292 |  |  | 4,432 |
Deferred Tax Liabilities |  |  |
Goodwill | 1,187 |  |  | 1,187 |
Loan servicing rights | 171 |  |  | 288 |
Depreciation | 997 |  |  | 815 |
Loan fees/costs | 1,108 |  |  | 1,044 |
Prepaid expenses | 168 |  |  | 159 |
Purchase accounting adjustment | 83 |  |  | 110 |
Operating lease ROU assets | 619 |  |  | 310 |
Other | — |  |  | 27 |
Total deferred tax liabilities | 4,333 |  |  | 3,940 |
Net deferred tax assets | $ | 959 |  |  | $ | 492 |
Net deferred tax assets are included in other assets in the accompanying consolidated balance sheets. No valuation allowance for deferred tax assets was recorded as of September 30, 2025 and 2024, as management believes that it is more likely than not that all of the deferred tax assets will be realized based on management's expectations of future taxable income. The provision for income taxes for the years ended September 30, 2025, 2024 and 2023 differs from that computed at the federal statutory corporate tax rate as follows (dollars in thousands):
| 2025 |  | 2024 |  | 2023
Expected federal income tax provision at statutory rate | $ | 7,609 |  |  | $ | 6,385 |  |  | $ | 7,139 |
BOLI income | (357) |  |  | (135) |  |  | (148) |
Dividends on Employee Stock Ownership Plan ("ESOP") stock | (58) |  |  | (58) |  |  | (71) |
Stock-based compensation tax effect | (95) |  |  | (37) |  |  | (66) |
Other, net | (29) |  |  | (32) |  |  | 22 |
Provision for income taxes | $ | 7,070 |  |  | $ | 6,123 |  |  | $ | 6,876 |

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