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LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES (Tables)

6 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Schedule of loans receivable, net

Loans receivable, net were comprised of the following:

		March 31,				September 30,
		2020				2019
		(In thousands)
One-to-four family residential		$	204,575			$	190,415
Commercial real estate			245,860				232,544
Construction			22,333				28,451
Home equity lines of credit			22,170				17,832
Commercial business			47,684				48,769
Other			4,782				4,990
Total loans receivable			547,404				523,001
Net deferred loan costs			42				104
Allowance for loan losses			(5,525	)			(4,888	)
Total loans receivable, net		$	541,921			$	518,217

Schedule of impaired loans

The following tables present impaired loans by class, segregated by those for which a specific allowance was required and charged-off and those for which a specific allowance was not necessary at the dates presented:

										Impaired
										Loans with
		Impaired Loans with								No Specific
		Specific Allowance								Allowance				Total Impaired Loans
																		Unpaid
		Recorded				Related				Recorded				Recorded				Principal
March 31, 2020		Investment				Allowance				Investment				Investment				Balance
		(In thousands)
One-to-four family residential		$	—			$	—			$	2,177			$	2,177			$	2,177
Commercial real estate			599				46				2,768				3,367				3,367
Construction			2,306				175				2,900				5,206				5,206
Commercial business			—				—				1,404				1,404				1,404
Total impaired loans		$	2,905			$	221			$	9,249			$	12,154			$	12,154

										Impaired
										Loans with
		Impaired Loans with								No Specific
		Specific Allowance								Allowance				Total Impaired Loans
																		Unpaid
		Recorded				Related				Recorded				Recorded				Principal
September 30, 2019		Investment				Allowance				Investment				Investment				Balance
		(In thousands)
One-to-four family residential		$	—			$	—			$	1,405			$	1,405			$	1,405
Commercial real estate			—				—				4,593				4,593				4,593
Construction			—				—				2,900				2,900				2,900
Commercial business			—				—				1,456				1,456				1,456
Total impaired loans		$	—			$	—			$	10,354			$	10,354			$	10,354

Schedule of average recorded investment in impaired loans

The following tables present the average recorded investment in impaired loans for the periods indicated. There was no interest income recognized on impaired loans during the periods presented.

		Three Months				Six Months
		Ended March 31, 2020				Ended March 31, 2020
		(In thousands)
One-to-four family residential		$	1,787			$	1,659
Commercial real estate			2,995				3,528
Construction			4,053				3,669
Commercial business			1,441				1,446
Average investment in impaired loans		$	10,276			$	10,302

		Three Months				Six Months
		Ended March 31, 2019				Ended March 31, 2019
		(In thousands)
One-to-four family residential		$	1,240			$	1,204
Commercial real estate			3,923				3,936
Construction			2,900				1,933
Home equity lines of credit			49				52
Commercial business			646				667
Average investment in impaired loans		$	8,758			$	7,792

Schedule of loan portfolio summarized by Bank's internal risk rating system

The following tables present the classes of the loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the Bank’s internal risk rating system at the dates presented:

						Special
		Pass				Mention				Substandard				Doubtful				Total
		(In  thousands)
March 31, 2020
One-to-four family residential		$	203,308			$	—			$	1,267			$	—			$	204,575
Commercial real estate			243,683				406				1,771				—				245,860
Construction			17,035				—				5,298				—				22,333
Home equity lines of credit			22,170				—				—				—				22,170
Commercial business			46,435				13				1,236				—				47,684
Other			4,782				—				—				—				4,782
Total		$	537,413			$	419			$	9,572			$	—			$	547,404

						Special
		Pass				Mention				Substandard				Doubtful				Total
		(In thousands)
September 30, 2019
One-to-four family residential		$	189,938			$	—			$	477			$	—			$	190,415
Commercial real estate			228,156				1,409				2,979				—				232,544
Construction			25,551				—				2,900				—				28,451
Home equity lines of credit			17,832				—				—				—				17,832
Commercial business			47,541				—				1,228				—				48,769
Other			4,990				—				—				—				4,990
Total		$	514,008			$	1,409			$	7,584			$	—			$	523,001

Schedule of aging analysis of past due loans, segregated by class of loans

The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans at the dates presented:

						30-59				60-89
						Days				Days				90 Days +				Total				Non-				Total
		Current				Past Due				Past Due				Past Due				Past Due				Accrual				Loans
		(Dollars in  thousands)
March 31, 2020
One-to-four family residential		$	200,712			$	2,957			$	—			$	906			$	3,863			$	906			$	204,575
Commercial real estate			240,540				3,549				—				1,771				5,320				1,771				245,860
Construction			17,127				—				—				5,206				5,206				5,206				22,333
Home equity lines of credit			22,072				6				92				—				98				—				22,170
Commercial business			45,028				1,420				—				1,236				2,656				1,236				47,684
Other			4,782				—				—				—				—				—				4,782
Total		$	530,261			$	7,932			$	92			$	9,119			$	17,143			$	9,119			$	547,404

						30-59				60-89
						Days				Days				90 Days +				Total				Non-				Total
		Current				Past Due				Past Due				Past Due				Past Due				Accrual				Loans
		(In  thousands)
September 30, 2019
One-to-four family residential		$	190,301			$	—			$	—			$	114			$	114			$	114			$	190,415
Commercial real estate			229,331				503				58				2,652				3,213				2,652				232,544
Construction			25,551				—				—				2,900				2,900				2,900				28,451
Home equity lines of credit			17,832				—				—				—				—				—				17,832
Commercial business			47,541				—				—				1,228				1,228				1,228				48,769
Other			4,990				—				—				—				—				—				4,990
Total		$	515,546			$	503			$	58			$	6,894			$	7,455			$	6,894			$	523,001

Schedule of activity in the allowance for loan losses by portfolio segment

The following table summarizes the ALL by loan category and the related activity for the six months ended March 31, 2020:

		One-to-Four												Home Equity
		Family				Commercial								Lines of				Commercial
		Residential				Real Estate				Construction				Credit				Business				Other				Unallocated				Total
		(Dollars in  thousands)
Balance- September 30, 2019		$	731			$	2,066			$	511			$	138			$	1,184			$	8			$	250			$	4,888
Charge-offs			—				—				—				—				—				—				—				—
Recoveries			2				—				—				—				—				—				—				2
Provision (credit)			(26	)			(147	)			63				2				311				(6	)			13				210
Balance- December 31, 2019		$	707			$	1,919			$	574			$	140			$	1,495			$	2			$	263			$	5,100
Charge-offs			—				—				—				—				—				—				—				—
Recoveries			5				—				—				—				—				—				—				5
Provision (credit)			227				457				70				42				(287	)			(2	)			(87	)			420
Balance- March 31, 2020		$	939			$	2,376			$	644			$	182			$	1,208			$	—			$	176			$	5,525

The following table summarizes the ALL by loan category and the related activity for the six months ended March 31, 2019:

		One-to-Four												Home Equity
		Family				Commercial								Lines of				Commercial
		Residential				Real Estate				Construction				Credit				Business				Other				Unallocated				Total
		(In  thousands)
Balance- September 30, 2018		$	687			$	1,540			$	493			$	109			$	1,151			$	25			$	195			$	4,200
Charge-offs			—				—				—				—				—				—				—				—
Recoveries			—				—				—				1				—				—				—				1
Provision (credit)			11				50				181				11				31				(21	)			(62	)			201
Balance- December 31, 2018		$	698			$	1,590			$	674			$	121			$	1,182			$	4			$	133			$	4,402
Charge-offs			—				—				—				—				—				—				—				—
Recoveries			92				—				—				—				—				—				—				92
Provision (credit)			(80	)			95				142				17				(78	)			(1	)			11				106
Balance- March 31, 2019		$	710			$	1,685			$	816			$	138			$	1,104			$	3			$	144			$	4,600

The following tables summarize the ALL by loan category, segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of March 31, 2020 and September 30, 2019:  

		One-to-Four												Home Equity
		Family				Commercial								Lines of				Commercial
		Residential				Real Estate				Construction				Credit				Business				Other				Unallocated				Total
		(Dollars in  thousands)
Allowance for Loan Losses:
Balance - March 31, 2020		$	939			$	2,376			$	644			$	182			$	1,208			$	—			$	176			$	5,525
Individually evaluated
for impairment			—				46				175				—				—				—				—				221
Collectively evaluated
for impairment			939				2,330				469				182				1,208				—				176				5,304
Loans receivable:
Balance - March 31, 2020		$	204,575			$	245,860			$	22,333			$	22,170			$	47,684			$	4,782			$	—			$	547,404
Individually evaluated
for impairment			2,177				3,367				5,206				—				1,404				—				—				12,154
Collectively evaluated
for impairment			202,398				242,493				17,127				22,170				46,280				4,782				—				535,250

		One-to-Four												Home Equity
		Family				Commercial								Lines of				Commercial
		Residential				Real Estate				Construction				Credit				Business				Other				Unallocated				Total
		(In  thousands)
Allowance for Loan Losses:
Balance - September 30, 2019		$	731			$	2,066			$	511			$	138			$	1,184			$	8			$	250			$	4,888
Individually evaluated
for impairment			—				—				—				—				—				—				—				—
Collectively evaluated
for impairment			731				2,066				511				138				1,184				8				250				4,888
Loans receivable:
Balance - September 30, 2019		$	190,415			$	232,544			$	28,451			$	17,832			$	48,769			$	4,990			$	—			$	523,001
Individually evaluated
for impairment			1,405				4,593				2,900				—				1,456				—				—				10,354
Collectively evaluated
for impairment			189,010				227,951				25,551				17,832				47,313				4,990				—				512,647

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