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Fair Value Measurements (Tables)

3 Months Ended

Dec. 31, 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 December 31, 2024 and September 30, 2024 were as follows (dollars in thousands):

December 31, 2024			Estimated Fair Value
			Level 1						Level 2						Level 3						Total
Available for sale investment securities
U.S. Treasury and U.S. government agency securities			$	9,544					$	—					$	—					$	9,544
MBS: U.S. government agencies			—						67,536						—						67,536
Investments in equity securities
Mutual funds			840						—						—						840
Total			$	10,384					$	67,536					$	—					$	77,920

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

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 December 31, 2024 and September 30, 2024 (dollars in thousands):

			Estimated Fair Value																		Total Estimated
December 31, 2024			Level 1						Level 2						Level 3						Fair Value
Individually evaluated collateral-dependent loans:
Commercial business loans			$	—					$	—					$	970					$	970
Total loans			—						—						970						970
OREO and other repossessed assets			—						—						221						221
Total			$	—					$	—					$	1,191					$	1,191

			Estimated Fair Value																		Total Estimated
September 30, 2024			Level 1						Level 2						Level 3						Fair Value
Individually evaluated collateral-dependent loans:
Commercial business loans			$	—					$	—					$	1,315					$	1,315
Total			$	—					$	—					$	1,315					$	1,315

Level 3 Fair Value Measurements, Nonrecurring Basis

The following table presents quantitative information about Level 3 inputs for financial instruments measured at fair value on a non-recurring basis as of December 31, 2024 and September 30, 2024 (dollars in thousands):

Valuation Technique(s)

Unobservable Input(s)

Range

Individually evaluated collateral-dependent loans

Market approach

Appraised value less estimated selling costs

N/A

OREO and other repossessed assets

Market approach

Lower of appraised value or listing price less estimated 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 December 31, 2024 and September 30, 2024 (dollars in thousands):

			December 31, 2024
															Fair Value Measurements Using:
			Recorded Amount						Estimated Fair Value						Level 1						Level 2						Level 3
Financial assets
Cash and cash equivalents			$	164,071					$	164,071					$	164,071					$	—					$	—
CDs held for investment			7,470						7,470						7,470						—						—
Investment securities			233,185						224,790						84,019						140,771						—
Investments in equity securities			840						840						840						—						—
FHLB stock			2,037						2,037						2,037						—						—
Other investments			3,000						3,000						3,000						—						—
Loans held for sale			411						424						424						—						—
Loans receivable, net			1,411,819						1,372,737						—						—						1,372,737
Accrued interest receivable			7,095						7,095						7,095						—						—
Financial liabilities
Certificates of deposit			385,835						385,987						—						—						385,987
FHLB borrowings			20,000						19,896						—						—						19,896
Accrued interest payable			1,876						1,876						1,876						—						—

			September 30, 2024
															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						—						—

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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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://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-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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- 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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