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INVESTMENT SECURITIES

9 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

INVESTMENT SECURITIES

NOTE I - INVESTMENT SECURITIES

The following tables summarize the amortized cost and fair values of securities available for sale at June 30, 2020 and September 30, 2019:

		June 30, 2020
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
		(In thousands)
Securities available for sale:
Obligations of U.S. government agencies:
Mortgage-backed securities - residential		$	415			$	17			$	—			$	432
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed securities-residential			10,782				128				(3	)			10,907
Debt securities			5,000				1				—				5,001
Total securities available for sale		$	16,197			$	146			$	(3	)		$	16,340

		September 30, 2019
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
		(In thousands)
Securities available for sale:
Obligations of U.S. government agencies:
Mortgage backed securities - residential		$	480			$	15			$	—			$	495
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed securities-residential			14,663				80				(35	)			14,708
Debt securities			1,500				—				—				1,500
Total securities available for sale		$	16,643			$	95			$	(35	)		$	16,703

The maturities of the debt securities and certain information regarding the mortgage-backed securities available for sale at June 30, 2020 are summarized in the following table:

		June 30, 2020
		Amortized				Fair
		Cost				Value
		(In thousands)
Due within 1 year		$	—			$	—
Due after 1 but within 5 years			5,000				5,001
Due after 5 but within 10 years			—				—
Due after 10 years			—				—
Total debt securities			5,000				5,001
Mortgage-backed securities:
Residential			11,197				11,339
Commercial			—				—
Total		$	16,197			$	16,340

The following tables summarize the amortized cost and fair values of securities held to maturity at June 30, 2020 and September 30, 2019:

		June 30, 2020
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
		(In thousands)
Securities held to maturity:
Obligations of U.S. government agencies:
Mortgage-backed securities - residential		$	1,822			$	19			$	(35	)		$	1,806
Mortgage-backed securities - commercial			793				—				(8	)			785
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed-securities - residential			22,192				759				—				22,951
Private label mortgage-backed securities - residential			263				—				(12	)			251
Corporate securities			3,000				—				(255	)			2,745
Total securities held to maturity		$	28,070			$	778			$	(310	)		$	28,538

		September 30, 2019
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
		(In thousands)
Securities held to maturity:
Obligations of U.S. government agencies:
Mortgage-backed securities - residential		$	445			$	—			$	(54	)		$	391
Mortgage-backed securities - commercial			842				—				(6	)			836
Obligations of U.S. government-sponsored enterprises:
Mortgage backed securities - residential			22,363				276				(47	)			22,592
Debt securities			2,468				10				—				2,478
Private label mortgage-backed securities - residential			363				7				—				370
Corporate securities			3,000				—				(323	)			2,677
Total securities held to maturity		$	29,481			$	293			$	(430	)		$	29,344

The maturities of the debt securities and certain information regarding the mortgage backed securities held to maturity at June 30, 2020 are summarized in the following table:

		June 30, 2020
		Amortized				Fair
		Cost				Value
		(In  thousands)
Due within 1 year		$	—			$	—
Due after 1 but within 5 years			—				—
Due after 5 but within 10 years			3,000				2,745
Due after 10 years			—				—
Total debt securities			3,000				2,745
Mortgage-backed securities:
Residential			24,277				25,008
Commercial			793				785
Total		$	28,070			$	28,538

X

- References

No definition available.

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2209399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2324412

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2176304

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