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IMPAIRMENT OF INVESTMENT SECURITIES | 3 Months Ended
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Dec. 31, 2015
IMPAIRMENT OF INVESTMENT SECURITIES [Abstract] |
IMPAIRMENT OF INVESTMENT SECURITIES | NOTE I – IMPAIRMENT OF INVESTMENT SECURITIES The Company recognizes credit-related other-than-temporary impairment on debt securities in earnings while noncredit-related other-than-temporary impairment on debt securities not expected to be sold is recognized in other comprehensive income (“OCI”). The Company reviews its investment portfolio on a quarterly basis for indications of impairment. This review includes analyzing the length of time and the extent to which the fair value has been lower than the cost, the financial condition and near-term prospects of the issuer, including any specific events which may influence the operations of the issuer and the intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in the market. The Company evaluates its intent and ability to hold debt securities based upon its investment strategy for the particular type of security and its cash flow needs, liquidity position, capital adequacy and interest rate risk position. In addition, the risk of future other-than-temporary impairment may be influenced by prolonged recession in the U.S. economy, changes in real estate values and interest deferrals. Investment securities with fair values less than their amortized cost contain unrealized losses. The following tables present the gross unrealized losses and fair value at December 31, 2015 and September 30, 2015 for both available for sale and held to maturity securities by investment category and time frame for which the loss has been outstanding:
|  |  |  |  | December 31, 2015 |
|  |  |  |  | Less Than 12 Months |  |  | 12 Months Or Greater |  |  | Total |
|  | Number of |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | Securities |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
|  |  |  |  | (Dollars in thousands) |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  |  | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,156 |  |  | $ | (99 | ) |  | $ | 2,156 |  |  | $ | (99 | )
Mortgage-backed securities - commercial |  |  | 1 |  |  |  | 1,080 |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |  |  | 1,080 |  |  |  | (4 | )
Obligations of U.S. government-sponsored enterprises |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  |  | 20 |  |  |  | 25,495 |  |  |  | (354 | ) |  |  | 8,447 |  |  |  | (156 | ) |  |  | 33,942 |  |  |  | (510 | )
Debt securities |  |  | 4 |  |  |  | 2,939 |  |  |  | (61 | ) |  |  | 1,942 |  |  |  | (58 | ) |  |  | 4,881 |  |  |  | (119 | )
Private label mortgage-backed securities residential |  |  | 2 |  |  |  | 325 |  |  |  | (2 | ) |  |  | 16 |  |  |  | (1 | ) |  |  | 341 |  |  |  | (3 | )
Corporate securities |  |  | 1 |  |  |  | 2,747 |  |  |  | (253 | ) |  |  | — |  |  |  | — |  |  |  | 2,747 |  |  |  | (253 | )
Total |  |  | 31 |  |  | $ | 32,586 |  |  | $ | (674 | ) |  | $ | 12,561 |  |  | $ | (314 | ) |  | $ | 45,147 |  |  | $ | (988 | )
|  |  |  |  | September 30, 2015 |
|  |  |  |  | Less Than 12 Months |  |  | 12 Months Or Greater |  |  | Total |
|  | Number of |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | Securities |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
|  |  |  |  | (Dollars in thousands) |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  |  | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,254 |  |  | $ | (99 | ) |  | $ | 2,254 |  |  | $ | (99 | )
Mortgage-backed securities - commercial |  |  | 1 |  |  |  | 1,099 |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | 1,099 |  |  |  | (2 | )
Obligations of U.S. government-sponsored enterprises |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  |  | 7 |  |  |  | 4,424 |  |  |  | (34 | ) |  |  | 8,688 |  |  |  | (40 | ) |  |  | 13,112 |  |  |  | (74 | )
Debt securities |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 1,975 |  |  |  | (25 | ) |  |  | 1,975 |  |  |  | (25 | )
Private label mortgage-backed securities residential |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | 223 |  |  |  | (2 | ) |  |  | 223 |  |  |  | (2 | )
Total |  |  | 14 |  |  | $ | 5,523 |  |  | $ | (36 | ) |  | $ | 13,140 |  |  | $ | (166 | ) |  | $ | 18,663 |  |  | $ | (202 | )
The investment securities listed above currently have fair values less than amortized cost and therefore contain unrealized losses. The Company evaluated these securities and determined that the decline in value was primarily related to fluctuations in the interest rate environment and were not related to any company or industry specific event. At December 31, 2015 and September 30, 2015, there were thirty one and fourteen, respectively, investment securities with unrealized losses. The Company anticipates full recovery of amortized costs with respect to these securities. The Company does not intend to sell these securities and has determined that it is not more likely than not that the Company would be required to sell these securities prior to maturity or market price recovery. Management has considered factors regarding other than temporarily impaired securities and determined that there are no securities with an impairment that is other than temporary as of December 31, 2015 and September 30, 2015.

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- Definition The entire disclosure for investment holdings. This includes the long positions of investments for the entity. It contains investments in affiliated and unaffiliated issuers. The investments include securities and non securities (i.e. commodities and futures contracts). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 4 -Subparagraph (SX 210.12-12C) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611225-123010 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611322-123010 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 5 -Subparagraph (SX 210.12-13) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611282-123010 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-12) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611133-123010 + Details
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