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FAIR VALUE DISCLOSURES (Tables)
 6 Months Ended
Mar. 31, 2015
FAIR VALUE DISCLOSURES [Abstract]  
Schedule of assets measured at fair value on a recurring basis
Fair Value at March 31, 2015
Total Level 1     Level 2     Level 3  
(Dollars in thousands)
Securities available for sale:                      
Obligations of U.S. government-sponsored enterprises:                                
Mortgage-backed securities-residential     6,088       —       6,088       —  
Private label mortgage-backed securities-residential     222       —       222       —  
            Total securities available for sale   $ 6,310     $ —     $ 6,310     $ —  

  

Fair Value at September 30, 2014
Total Level 1     Level 2     Level 3  
(Dollars in thousands)
Securities available for sale:                      
Obligations of U.S. government agencies:                                
Mortgage-backed securities - residential   $ 1,295     $ —     $ 1,295     $ —  
Obligations of U.S. government-sponsored enterprises:                                
Mortgage-backed securities-residential     10,369       —       10,369       —  
Private label mortgage-backed securities-residential     406       —       406       —  
            Total securities available for sale   $ 12,070     $ —     $ 12,070     $ —  
Schedule of assets measured at fair value on a non-recurring basis
Fair Value at March 31, 2015
Total Level 1     Level 2     Level 3  
(Dollars in thousands)
               
Impaired loans   $ 2,475     $ —     $ —     $ 2,475  
Other real estate owned     2,998       —       —       2,998  
    $ 5,473     $ —     $ —     $ 5,473  

 

Fair Value at September 30, 2014
Total Level 1     Level 2     Level 3  
(Dollars in thousands)
               
Impaired loans   $ 3,101     $ —     $ —     $ 3,101  
Other real estate owned     5,850       —       —       5,850  
    $ 8,951     $ —     $ —     $ 8,951  
Schedule of quantitative information about assets measured at fair value on a nonrecurring bassis for which Level 3 inputs were used to determine fair value
Quantitative Information about Level 3 Fair Value Measurements
(Dollars in thousands)
Fair Value Valuation      
March 31, 2015 Estimate Techniques Unobservable Input   Range (Weighted Average)
                 
Impaired loans   $ 2,475     Appraisal of collateral (1)   Liquidation expenses (2)   -16.0% to -18.0% (-16.6%)
Other real estate owned   $ 2,998     Appraisal of collateral (1), (3)   Appraisal adjustments (2)   -8.0% to -29.5% (-19.1%)

 

(1) Fair value is generally determined through independent appraisals for the underlying collateral, which generally include various level 3 inputs which are not identifiable.
(2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.
(3) Includes qualitative adjustments by management and estimated liquidation expenses.
Schedule of the carrying amount, fair value, and placement in the fair value hierarchy of financial instruments carried at cost or amortized cost
Carrying Fair     Fair Value Measurement Placement  
Value Value     (Level 1)     (Level 2)     (Level 3)  
(Dollars in thousands)
March 31, 2015                              
Financial instruments - assets                                        
Investment securities held-to-maturity   $ 50,545     $ 51,317     $ —     $ 51,317     $ —  
Loans     408,696       415,113       —       —       415,113  
                                         
Financial instruments - liabilities                                        
Certificates of deposit     132,646       134,002       —       134,002       —  
Borrowings     26,201       26,901       —       26,901       —  
                                         
September 30, 2014                                        
Financial instruments - assets                                        
Investment securities held to maturity   $ 48,963     $ 48,822       —     $ 48,822     $ —  
Loans     404,195       407,947       —       —       407,947  
                                         
Financial instruments - liabilities                                        
Certificate of deposit     149,875       151,652       —       151,652       —  
Borrowings     30,500       31,045       —       31,045       —