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INCOME TAXES (Tables) | 12 Months Ended
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Sep. 30, 2017
Income Tax Disclosure [Abstract] |
Schedule of components of income tax expense | The income tax expense is comprised of the following components for the years ended September 30, 2017 and 2016:
|  | September 30, |
|  | 2017 |  |  | 2016 |
|  | (In thousands) |
Current |  | $ | (3 | ) |  | $ | 59 |
Deferred |  |  | 997 |  |  |  | 605 |
Total income tax expense |  | $ | 994 |  |  | $ | 664
Schedule of reconciliation of income tax at the statutory rate to effective tax rate | A reconciliation of income tax at the statutory tax rate to the effective income tax expense for the years ended September 30, 2017 and 2016 is as follows:
|  | September 30, |
|  | 2017 |  |  | 2016 |
|  | (In thousands) |
Income tax expense at statutory rate |  | $ | 822 |  |  | $ | 596 |
Increase (decrease) resulting from: |  |  |  |  |  |  |  |
State income taxes, net of federal income tax benefit |  |  | 141 |  |  |  | 161 |
Tax-exempt income, net |  |  | (95 | ) |  |  | (96 | )
Nondeductible expenses |  |  | 4 |  |  |  | 5 |
Employee stock ownership plan |  |  | 7 |  |  |  | (3 | )
Increase (decrease) in valuation allowance |  |  | 115 |  |  |  | — |
Other, net |  |  | — |  |  |  | 1 |
Total income tax expense |  | $ | 994 |  |  | $ | 664
Schedule of major sources of temporary differences and their deferred tax effect | The major sources of temporary differences and their deferred tax effect at September 30, 2017 and 2016 are as follows:
|  | September 30, |
|  | 2017 |  |  | 2016 |
|  | (In thousands) |
Allowance for loan losses |  | $ | 1,388 |  |  | $ | 1,221 |
Deferred loan fees |  |  | 1 |  |  |  | 93 |
Employee benefits |  |  | — |  |  |  | 82 |
Net operating losses |  |  | 431 |  |  |  | 1,670 |
Alternative minimum tax credit |  |  | 311 |  |  |  | 252 |
Unrealized loss, minimum pension liability |  |  | 597 |  |  |  | 793 |
Net unrealized loss, investment securities available-for-sale |  |  | 61 |  |  |  | — |
OREO |  |  | 382 |  |  |  | 317 |
Straight line rent |  |  | 177 |  |  |  | 178 |
Gross deferred tax asset |  |  | 3,348 |  |  |  | 4,606 |
Depreciation |  |  | (1,370 | ) |  |  | (1,443 | )
Discount accretion on investments |  |  | (119 | ) |  |  | (118 | )
Employee benefits |  |  | (39 | ) |  |  | — |
Net unrealized gain, investment securities available-for-sale |  |  | — |  |  |  | (18 | )
Mortgage servicing rights |  |  | (28 | ) |  |  | (39 | )
Gross deferred tax liability |  |  | (1,556 | ) |  |  | (1,618 | )
Net deferred tax asset |  |  | 1,792 |  |  |  | 2,988 |
Valuation allowance |  |  | — |  |  |  | (83 | )
Net deferred tax asset, included in other assets |  | $ | 1,792 |  |  | $ | 2,905 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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