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PENSION PLAN (Tables)
 12 Months Ended
Sep. 30, 2017
Retirement Benefits [Abstract]  
Schedule of plan's funded status and amounts recognized

The following table sets forth the Plan’s funded status and amounts recognized in the Company’s Consolidated Balance Sheets at September 30, 2017 and September 30, 2016.

 

   At September 30, 
   2017   2016 
   (In thousands) 
         
Actuarial present value of benefit obligations  $4,550   $4,779 
           
Change in benefit obligations          
Projected benefit obligation, beginning  $4,779   $4,337 
Interest cost   175    191 
Actuarial (gain) loss   (214)   441 
Annuity payments and lump sum distributions   (190)   (190)
           
Projected benefit obligation, end  $4,550   $4,779 
           
Change in plan assets          
Fair value of assets, beginning  $2,951   $2,766 
Actual return on plan assets   312    251 
Employer contributions   164    124 
Annuity payments and lump sum distributions   (190)   (190)
           
Fair value of assets, end  $3,237   $2,951 
           
Funded status included with other liabilities  $(1,313)  $(1,828)
Schedule of net pension costs

Net pension cost for the years ended September 30, 2017 and 2016 included the following components:

 

   September 30, 
   2017   2016 
   (In thousands) 
         
Service cost benefits earned during the year  $—   $— 
Interest cost on projected benefit obligation   175    191 
Expected return on plan assets   (202)   (191)
Amortization of unrecognized net loss   166    139 
Net pension cost  $139   $139
Schedule of weighted-average asset allocations by asset category

The Plan’s weighted-average asset allocations at September 30, 2017 and 2016, by asset category are as follows:

 

   September 30, 
   2017   2016 
         
Equity securities   68%    64% 
Debt securities (bond mutual funds)   32%    36% 
Other (money market fund)   0%    0% 
Total   100%    100%
Schedule of expected benefit payments

The following benefit payments are expected to be paid as follows (in thousands):

 

October 1, 2017 through September 30, 2018  $204 
October 1, 2018 through September 30, 2019   208 
October 1, 2019 through September 30, 2020   210 
October 1, 2020 through September 30, 2021   210 
October 1, 2021 through September 30, 2022   210 
October 1, 2022 through September 30, 2027   1,195 
   $2,237
Schedule of plan assets that are measured at fair value

The following table presents the Plan assets that are measured at fair value on a recurring basis by level within the fair value hierarchy under ASC Topic 820. Financial assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. See Note R for further detail regarding fair value hierarchy.

 

       Fair Value Measurements at Reporting Date Using: 
       Quoted Prices   Significant     
       in Active Markets   Other   Significant 
       for Identical   Observable   Unobservable 
   Total   Assets (Level 1)   Inputs (Level 2)   Inputs (Level 3) 
   (In thousands) 
At September 30, 2017                
Investment Type                    
Mutual Funds- Equity                    
Large-Cap Value  $462   $462   $—   $— 
Large-Cap Core   482    482    —    — 
Mid-Cap Core   224    224    —    — 
Small-Cap Core   222    222    —    — 
Non-U.S. Core   803    803    —    — 
Mutual Funds- Fixed Income                    
Intermediate-Term Core   1,033    1,033    —    — 
Cash Equivalents                    
Money Market   11    11    —    — 
Total Investment  $3,237   $3,237   $—   $— 
                     
                     
                     
At September 30, 2016                    
Investment Type                    
Mutual Funds- Equity                    
Large-Cap Value  $400   $400   $—   $— 
Large-Cap Core   414    414    —    — 
Mid-Cap Core   198    198    —    — 
Small-Cap Core   193    193    —    — 
Non-U.S. Core   686    686    —    — 
Mutual Funds- Fixed Income                    
Intermediate-Term Core   1,055    1,055    —    — 
Cash Equivalents                    
Money Market   5    5    —    — 
Total Investment  $2,951   $2,951   $—   $—