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INVESTMENT SECURITIES

3 Months Ended

Dec. 31, 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 December 31, 2020 and September 30, 2020:

		December 31, 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		$	275			$	14			$	—			$	289
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed securities-residential			9,455				80				(27	)			9,508
Debt securities			5,000				1				—				5,001
Total securities available for sale		$	14,730			$	95			$	(27	)		$	14,798

		September 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		$	350			$	14			$	—			$	364
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed securities-residential			9,092				108				(6	)			9,194
Debt securities			5,000				3				—				5,003
Total securities available for sale		$	14,442			$	125			$	(6	)		$	14,561

The maturities of the debt securities and certain information regarding the mortgage-backed securities available for sale at December 31, 2020 are summarized in the following table:

		December 31, 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			9,730				9,797
Commercial			—				—
Total		$	14,730			$	14,798

The following tables summarize the amortized cost and fair values of securities held to maturity at December 31, 2020 and September 30, 2020:

		December 31, 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		$	1,172			$	10			$	(30	)		$	1,152
Mortgage-backed securities - commercial			757				—				—				757
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed-securities - residential			20,809				621				(3	)			21,427
Debt securities			6,500				1				(1	)			6,500
Private label mortgage-backed securities - residential			255				—				(2	)			253
Corporate securities			3,000				—				(196	)			2,804
Total securities held to maturity		$	32,493			$	632			$	(232	)		$	32,893

		September 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		$	1,453			$	11			$	(33	)		$	1,431
Mortgage-backed securities - commercial			775				—				—				775
Obligations of U.S. government-sponsored enterprises:
Mortgage backed securities - residential			20,456				697				(3	)			21,150
Debt securities			4,500				1				(16	)			4,485
Private label mortgage-backed securities - residential			259				—				(5	)			254
Corporate securities			3,000				—				(196	)			2,804
Total securities held to maturity		$	30,443			$	709			$	(253	)		$	30,899

The maturities of the debt securities and certain information regarding the mortgage backed securities held to maturity at December 31, 2020 are summarized in the following table:

		December 31, 2020
		Amortized				Fair
		Cost				Value
		(In  thousands)
Due within 1 year		$	—			$	—
Due after 1 but within 5 years			6,500				6,500
Due after 5 but within 10 years			3,000				2,804
Due after 10 years			—				—
Total debt securities			9,500				9,304
Mortgage-backed securities:
Residential			22,236				22,832
Commercial			757				757
Total		$	32,493			$	32,893

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- References

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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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