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PENSION PLAN (Tables)

12 Months Ended

Sep. 30, 2018

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, 2018 and September 30, 2017.

		September 30,
		2018				2017
		(In thousands)
Actuarial present value of benefit obligations		$	4,390			$	4,550
Change in benefit obligations
Projected benefit obligation, beginning		$	4,550			$	4,779
Interest cost			178				175
Actuarial (gain) loss			(149	)			(214	)
Annuity payments and lump sum distributions			(189	)			(190	)
Projected benefit obligation, end		$	4,390			$	4,550
Change in plan assets
Fair value of assets, beginning		$	3,237			$	2,951
Actual return on plan assets			155				312
Employer contributions			200				164
Annuity payments and lump sum distributions			(189	)			(190	)
Fair value of assets, end		$	3,403			$	3,237
Funded status included with other liabilities		$	(987	)		$	(1,313	)

Schedule of net pension costs

Net pension cost for the years ended September 30, 2018 and 2017 included the following components:

		September 30,
		2018				2017
		(In thousands)
Service cost benefits earned during the year		$	—			$	—
Interest cost on projected benefit obligation			178				175
Expected return on plan assets			(222	)			(202	)
Amortization of unrecognized net loss			119				166
Net pension cost		$	75			$	139

Schedule of weighted-average asset allocations by asset category

The Plan’s weighted-average asset allocations at September 30, 2018 and 2017, by asset category are as follows:

		September 30,
		2018				2017
Equity securities			64	%			68	%
Debt securities (bond mutual funds)			36	%			32	%
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, 2018 through September 30, 2019		$	207
October 1, 2019 through September 30, 2020			210
October 1, 2020 through September 30, 2021			211
October 1, 2021 through September 30, 2022			211
October 1, 2022 through September 30, 2023			215
October 1, 2023 through September 30, 2028			1,247
Total		$	2,301

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, 2018
Investment Type
Mutual Funds- Equity
Large-Cap Value		$	468			$	468			$	—			$	—
Large-Cap Core			480				480				—				—
Mid-Cap Core			198				198				—				—
Small-Cap Core			201				201				—				—
Non-U.S. Core			815				815				—				—
Mutual Funds- Fixed Income
Intermediate-Term Core			1,241				1,241				—				—
Cash Equivalents
Money Market			—				—				—				—
Total Investment		$	3,403			$	3,403			$	—			$	—

						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			$	—			$	—

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