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SECURITIES (Tables)

6 Months Ended

Mar. 31, 2022

SECURITIES [Abstract]

Investment Securities Available for Sale and Held to Maturity

The following table summarizes the amortized cost and fair value of securities available for sale and securities held to maturity at March 31, 2022 and September 30, 2021 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

March 31, 2022

​

Amortized

Gross Unrealized

Gross Unrealized

​

​

(in thousands)

​

Cost

​

Gains

​

Losses

​

Fair Value

Available for sale:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. GSE residential mortgage-backed securities

​

$

414

​

$

—

​

$

(4)

​

$

410

Corporate bonds

​

​

4,700

​

​

—

​

​

(40)

​

​

4,660

Total available for sale securities

​

$

5,114

​

$

—

​

$

(44)

​

$

5,070

​

​

​

​

​

​

​

​

​

​

​

​

​

Held to maturity:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. GSE residential mortgage-backed securities

​

$

1,964

​

$

—

​

$

(49)

​

$

1,915

U.S. GSE commercial mortgage-backed securities

​

2,665

​

1

​

—

​

2,666

Total held to maturity securities

​

4,629

​

1

​

(49)

​

4,581

Total investment securities

​

$

9,743

​

$

1

​

$

(93)

​

$

9,651

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30, 2021

​

​

​

Gross

Gross

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

​

​

(in thousands)

​

Cost

​

Gains

​

Losses

​

Fair Value

Available for sale:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. GSE residential mortgage-backed securities

​

$

722

​

$

112

​

$

(1)

​

$

833

Corporate bonds

​

6,700

​

214

​

—

​

6,914

Total available for sale securities

​

$

7,422

​

$

326

​

$

(1)

​

$

7,747

​

​

​

​

​

​

​

​

​

​

​

​

​

Held to maturity:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. GSE residential mortgage-backed securities

​

$

2,417

​

$

74

​

$

—

​

$

2,491

U.S. GSE commercial mortgage-backed securities

​

2,694

​

175

​

—

​

2,869

Corporate bonds

​

3,500

​

9

​

(4)

​

3,505

Total held to maturity securities

​

8,611

​

258

​

(4)

​

8,865

Total investment securities

​

$

16,033

​

$

584

​

$

(5)

​

$

16,612

Securities Portfolio by Contractual Maturity

The amortized cost and fair value of the Company’s securities portfolio at March 31, 2022 are presented by contractual maturity in the table below. The expected life of mortgage-backed securities will differ from contractual maturities because borrowers may have the right to call or prepay the underlying mortgage loans with or without call or prepayment penalties.

​	​	​	​	​	​	​
​	​	March 31, 2022
​		Amortized			Fair
(in thousands)	​	Cost		​	Value
Securities available for sale:	​		​	​		​
Five to ten years	​	$	4,700	​	$	4,660
U.S. GSE residential mortgage-backed securities	​		414	​		410
Total securities available for sale	​	​	5,114	​	​	5,070
Securities held to maturity:	​			​
One to five years	​	​	—	​	​	—
Five to ten years	​		—	​		—
U.S. GSE residential mortgage-backed securities	​		1,964	​		1,915
U.S. GSE commercial mortgage-backed securities	​		2,665	​		2,666
Total securities held to maturity	​	​	4,629	​	​	4,581
Total investment securities	​	$	9,743	​	$	9,651

X

- Definition

Tabular disclosure of investment.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 325
-URI http://asc.fasb.org/topic&trid=2197064

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 321
-URI http://asc.fasb.org/topic&trid=75115024

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-URI http://asc.fasb.org/topic&trid=2196965

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X

- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

No definition available.

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- References

No definition available.

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