XML 28 R17.htm IDEA: XBRL DOCUMENT v3.21.4

DEPOSITS

12 Months Ended

Sep. 30, 2021

Deposits [Abstract]

DEPOSITS

NOTE I - DEPOSITS

A summary of deposits by type of account follows:

		September 30,
		2021				2020
		(In thousands)
Demand accounts		$	181,975			$	163,562
Savings accounts			81,724				74,923
NOW accounts			71,325				65,447
Money market accounts			187,898				188,023
Certificate of deposit			101,888				110,650
Retirement accounts			15,004				15,725
Total deposits		$	639,814			$	618,330

The current FDIC insurance limit on bank deposit accounts is $250,000. The aggregate amount of deposit accounts with a minimum denomination of $250,000 was approximately $378.5 million at September 30, 2021 compared with $365.6 million at September 30, 2020. The aggregate amount of certificate deposits, including individual retirement accounts with balance of $250,000 or more was $39.4 million at September 30, 2021 compared with $45.6 million at September 30, 2020.

At September 30, 2021, certificates of deposit (including retirement accounts and brokered certificate deposit accounts) have contractual maturities as follows (in thousands):

74

Table of Contents

MAGYAR BANCORP, INC. AND SUBSIDIARY

Notes to Consolidated Financial Statements

September 30, 2021 and 2020

Year Ending September 30,
2022		$	72,838
2023			17,130
2024			8,096
2025			6,226
2026 and after			12,602
Total		$	116,892

X

- Definition

The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 405
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406

+ Details

Name:	us-gaap_DepositLiabilitiesDisclosuresTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DepositsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration