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FAIR VALUE DISCLOSURES (Tables)

6 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Schedule of assets measured at fair value on a recurring basis

		Fair Value at March 31, 2017
		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		$	7,963			$	—			$	7,963			$	—
Debt securities			2,423				—				2,423				—
Private label mortgage-backed securities-residential			76				—				76				—
Total securities available for sale		$	10,462			$	—			$	10,462			$	—

		Fair Value at September 30, 2016
		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		$	5,127			$	—			$	5,127			$	—
Private label mortgage-backed securities-residential			107				—				107				—
Total securities available for sale		$	5,234			$	—			$	5,234			$	—

Schedule of assets measured at fair value on a non-recurring basis

		Fair Value at March 31, 2017
		Total				Level 1				Level 2				Level 3
		(Dollars in thousands)
Impaired loans		$	423			$	—			$	—			$	423
Other real estate owned			11,479				—				—				11,479
		$	11,902			$	—			$	—			$	11,902

		Fair Value at September 30, 2016
		Total				Level 1				Level 2				Level 3
		(Dollars in thousands)
Impaired loans		$	958			$	—			$	—			$	958
Other real estate owned			12,082				—				—				12,082
		$	13,040			$	—			$	—			$	13,040

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, 2017		Estimate				Techniques		Unobservable Input		Range (Weighted Average)
Impaired loans		$	423			Appraisal of collateral (1)		Appraisal adjustments (2)		-7.9% to -55.8% (-39.0%)
Other real estate owned		$	11,479			Appraisal of collateral (1)		Liquidation expenses (2)		-24.7% to -24.7% (-24.7%)

		Fair Value				Valuation
September 30, 2016		Estimate				Techniques		Unobservable Input		Range (Weighted Average)
Impaired loans		$	958			Appraisal of collateral (1)		Appraisal adjustments (2)		-5.8% to -36.5% (-19.5%)
Other real estate owned		$	12,082			Appraisal of collateral (1)		Liquidation expenses (2)		-3.9% to -41.6% (-22.4%)

(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.

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, 2017
Financial instruments - assets
Investment securities held to maturity		$	52,248			$	51,935			$	—			$	51,935			$	—
Loans			460,819				463,184				—				—				463,184
Financial instruments - liabilities
Certificates of deposit including retirement certificates			128,973				129,915				—				129,915				—
Borrowings			34,040				33,997				—				33,997				—
September 30, 2016
Financial instruments - assets
Investment securities held to maturity		$	52,934			$	53,849			$	—			$	53,849			$	—
Loans			455,031				462,868				—				—				462,868
Financial instruments - liabilities
Certificates of deposit including retirement certificates			133,979				135,162				—				135,162				—
Borrowings			36,040				36,473				—				36,473				—

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, used to measure similar assets in prior periods (non-recurring basis) by class of asset or liability.

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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