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INVESTMENT SECURITIES | 3 Months Ended
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Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract] |
INVESTMENT SECURITIES | NOTE H - INVESTMENT SECURITIES The following tables summarize the amortized cost and fair values of securities available for sale at December 31, 2017 and September 30, 2017:
|  | December 31, 2017 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
|  | (Dollars in thousands) |
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 1,559 |  |  | $ | 67 |  |  | $ | — |  |  | $ | 1,626 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities-residential |  |  | 19,123 |  |  |  | 85 |  |  |  | (215 | ) |  |  | 18,993 |
Debt securities |  |  | 2,500 |  |  |  | — |  |  |  | (74 | ) |  |  | 2,426 |
Private label mortgage-backed securities-residential |  |  | 26 |  |  |  | — |  |  |  | — |  |  |  | 26 |
Total securities available for sale |  | $ | 23,208 |  |  | $ | 152 |  |  | $ | (289 | ) |  | $ | 23,071 |
|  | September 30, 2017 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
|  | (Dollars in thousands) |
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities-residential |  | $ | 9,442 |  |  | $ | 9 |  |  | $ | (125 | ) |  | $ | 9,326 |
Debt securities |  |  | 2,500 |  |  |  | — |  |  |  | (51 | ) |  |  | 2,449 |
Private label mortgage-backed securities-residential |  |  | 40 |  |  |  | — |  |  |  | — |  |  |  | 40 |
Total securities available for sale |  | $ | 11,982 |  |  | $ | 9 |  |  | $ | (176 | ) |  | $ | 11,815 |
The maturities of the debt securities and mortgage-backed securities available for sale at December 31, 2017 are summarized in the following table:
|  | December 31, 2017 |
|  | Amortized |  |  | Fair |
|  | Cost |  |  | Value |
|  | (Dollars in thousands) |
Due within 1 year |  | $ | — |  |  | $ | — |
Due after 1 but within 5 years |  |  | 1,500 |  |  |  | 1,435 |
Due after 5 but within 10 years |  |  | 1,000 |  |  |  | 991 |
Due after 10 years |  |  | — |  |  |  | — |
Total debt securities |  |  | 2,500 |  |  |  | 2,426 |
Mortgage-backed securities: |  |  |  |  |  |  |  |
Residential |  |  | 20,708 |  |  |  | 20,645 |
Commercial |  |  | — |  |  |  | — |
Total |  | $ | 23,208 |  |  | $ | 23,071 |
The Company adopted ASU 2017-12 during the three months ended December 31, 2017 and reclassified ten mortgage-backed securities totaling $12.6 million from the held-to-maturity portfolio to the available-for-sale portfolio that are eligible to be hedged under the last-of-layer method established by the ASU. These securities had unrealized gains of $104,000 at December 31, 2017. The following tables summarize the amortized cost and fair values of securities held to maturity at December 31, 2017 and September 30, 2017:
|  | December 31, 2017 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
|  | (Dollars in thousands) |
Securities held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 631 |  |  | $ | — |  |  | $ | (97 | ) |  | $ | 534 |
Mortgage-backed securities - commercial |  |  | 951 |  |  |  | — |  |  |  | (9 | ) |  |  | 942 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed-securities - residential |  |  | 25,014 |  |  |  | 43 |  |  |  | (334 | ) |  |  | 24,723 |
Debt securities |  |  | 4,462 |  |  |  | — |  |  |  | (34 | ) |  |  | 4,428 |
Private label mortgage-backed securities - residential |  |  | 452 |  |  |  | — |  |  |  | (2 | ) |  |  | 450 |
Corporate securities |  |  | 3,000 |  |  |  | — |  |  |  | (290 | ) |  |  | 2,710 |
Total securities held to maturity |  | $ | 34,510 |  |  | $ | 43 |  |  | $ | (766 | ) |  | $ | 33,787 |
|  | September 30, 2017 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
|  | (Dollars in thousands) |
Securities held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 3,466 |  |  | $ | 123 |  |  | $ | (96 | ) |  | $ | 3,493 |
Mortgage-backed securities - commercial |  |  | 968 |  |  |  | — |  |  |  | (10 | ) |  |  | 958 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage backed securities - residential |  |  | 39,016 |  |  |  | 349 |  |  |  | (251 | ) |  |  | 39,114 |
Debt securities |  |  | 4,461 |  |  |  | — |  |  |  | (24 | ) |  |  | 4,437 |
Private label mortgage-backed securities - residential |  |  | 457 |  |  |  | — |  |  |  | (2 | ) |  |  | 455 |
Corporate securities |  |  | 3,000 |  |  |  | — |  |  |  | (216 | ) |  |  | 2,784 |
Total securities held to maturity |  | $ | 51,368 |  |  | $ | 472 |  |  | $ | (599 | ) |  | $ | 51,241 |
The maturities of the debt securities and the mortgage backed securities held to maturity at December 31, 2017 are summarized in the following table:
|  | December 31, 2017 |
|  | Amortized |  |  | Fair |
|  | Cost |  |  | Value |
|  | (Dollars in thousands) |
Due within 1 year |  | $ | 2,000 |  |  | $ | 1,997 |
Due after 1 but within 5 years |  |  | — |  |  |  | — |
Due after 5 but within 10 years |  |  | 4,499 |  |  |  | 4,204 |
Due after 10 years |  |  | 963 |  |  |  | 937 |
Total debt securities |  |  | 7,462 |  |  |  | 7,138 |
Mortgage-backed securities: |  |  |  |  |  |  |  |
Residential |  |  | 26,097 |  |  |  | 25,707 |
Commercial |  |  | 951 |  |  |  | 942 |
Total |  | $ | 34,510 |  |  | $ | 33,787 |
There were $3.3 million in sales of mortgage-backed securities from the held to maturity portfolio during the three months ended December 31, 2017. In accordance with ASC 320 “Investments- Debt and Equity Securities”, sales from the held to maturity portfolio occurred after the Company had already collected a substantial portion (at least 85 percent) of the principal outstanding at acquisition due to prepayments on the debt security. The net gain from the sales of these securities totaled $107,000.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
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