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

3 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Schedule of loans receivable, net

Loans receivable, net were comprised of the following:

		December 31,				September 30,
		2020				2020
		(In thousands)
One-to-four family residential		$	208,404			$	210,360
Commercial real estate			260,296				248,134
Construction			23,441				28,242
Home equity lines of credit			19,837				19,373
Commercial business			91,215				100,993
Other			3,837				4,157
Total loans receivable			607,030				611,259
Net deferred loan costs			(1,370	)			(1,749	)
Allowance for loan losses			(7,130	)			(6,400	)
Total loans receivable, net		$	598,530			$	603,110

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
December 31, 2020		Investment				Allowance				Investment				Investment				Balance
		(In thousands)
One-to-four family residential		$	—			$	—			$	2,378			$	2,378			$	2,378
Commercial real estate			599				10				3,736				4,335				4,335
Construction			1,745				29				2,835				4,580				4,645
Commercial business			—				—				1,903				1,903				1,903
Total impaired loans		$	2,344			$	39			$	10,852			$	13,196			$	13,261

										Impaired
										Loans with
		Impaired Loans with								No Specific
		Specific Allowance								Allowance				Total Impaired Loans
																		Unpaid
		Recorded				Related				Recorded				Recorded				Principal
September 30, 2020		Investment				Allowance				Investment				Investment				Balance
		(In thousands)
One-to-four family residential		$	—			$	—			$	2,601			$	2,601			$	2,601
Commercial real estate			599				46				3,806				4,405				4,405
Construction			2,306				175				2,835				5,141				5,206
Commercial business			—				—				2,014				2,014				2,218
Total impaired loans		$	2,905			$	221			$	11,256			$	14,161			$	14,430

Schedule of average recorded investment in impaired loans

The following tables present the average recorded investment in impaired loans for the three months ended December 31, 2020 and 2019. There was no interest income recognized on impaired loans during the periods presented.

		Three Months
		Ended December 31, 2020
		(In thousands)
One-to-four family residential		$	2,490
Commercial real estate			4,370
Construction			4,861
Commercial business			1,959
Average investment in impaired loans		$	13,680

		Three Months
		Ended December 31, 2019
		(In thousands)
One-to-four family residential		$	1,401
Commercial real estate			3,608
Construction			2,900
Commercial business			1,467
Average investment in impaired loans		$	9,376

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)
December 31, 2020
One-to-four family residential		$	206,680			$	—			$	1,724			$	—			$	208,404
Commercial real estate			253,958				2,735				3,603				—				260,296
Construction			18,861				—				4,580				—				23,441
Home equity lines of credit			19,837				—				—				—				19,837
Commercial business			89,521				176				1,518				—				91,215
Other			3,837				—				—				—				3,837
Total		$	592,694			$	2,911			$	11,425			$	—			$	607,030

						Special
		Pass				Mention				Substandard				Doubtful				Total
		(In thousands)
September 30, 2020
One-to-four family residential		$	208,658			$	—			$	1,702			$	—			$	210,360
Commercial real estate			242,003				2,623				3,508				—				248,134
Construction			23,101				—				5,141				—				28,242
Home equity lines of credit			19,373				—				—				—				19,373
Commercial business			98,967				178				1,848				—				100,993
Other			4,157				—				—				—				4,157
Total		$	596,259			$	2,801			$	12,199			$	—			$	611,259

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
		(In  thousands)
December 31, 2020
One-to-four family residential		$	207,027			$	433			$	—			$	944			$	1,377			$	944			$	208,404
Commercial real estate			255,777				1,000				397				3,122				4,519				3,122				260,296
Construction			18,861				—				—				4,580				4,580				4,580				23,441
Home equity lines of credit			19,837				—				—				—				—				—				19,837
Commercial business			89,697				—				123				1,395				1,518				1,395				91,215
Other			3,837				—				—				—				—				—				3,837
Total		$	595,036			$	1,433			$	520			$	10,041			$	11,994			$	10,041			$	607,030

						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, 2020
One-to-four family residential		$	209,455			$	—			$	—			$	905			$	905			$	905			$	210,360
Commercial real estate			245,029				—				886				2,219				3,105				2,219				248,134
Construction			23,101				—				—				5,141				5,141				5,141				28,242
Home equity lines of credit			19,373				—				—				—				—				—				19,373
Commercial business			99,397				—				129				1,467				1,596				1,467				100,993
Other			4,157				—				—				—				—				—				4,157
Total		$	600,512			$	—			$	1,015			$	9,732			$	10,747			$	9,732			$	611,259

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 three months ended December 31, 2020:

		One-to-Four												Home Equity
		Family				Commercial								Lines of				Commercial
		Residential				Real Estate				Construction				Credit				Business				Other				Unallocated				Total
		(In  thousands)
Balance- September 30, 2020		$	1,035			$	3,232			$	672			$	179			$	1,034			$	1			$	247			$	6,400
Charge-offs			—				—				—				—				—				—				—				—
Recoveries			—				—				—				—				90				—				—				90
Provision (credit)			120				176				(202	)			88				592				1				(135	)			640
Balance- December 31, 2020		$	1,155			$	3,408			$	470			$	267			$	1,716			$	2			$	112			$	7,130

The following table summarizes the ALL by loan category and the related activity for the three months ended December 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, 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

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 December 31, 2020 and September 30, 2020:  

		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 - December 31, 2020		$	1,155			$	3,408			$	470			$	267			$	1,716			$	2			$	112			$	7,130
Individually evaluated
for impairment			—				10				29				—				—				—				—				39
Collectively evaluated
for impairment			1,155				3,398				441				267				1,716				2				112				7,091
Loans receivable:
Balance - December 31, 2020		$	208,404			$	260,296			$	23,441			$	19,837			$	91,215			$	3,837			$	—			$	607,030
Individually evaluated
for impairment			2,378				4,335				4,580				—				1,903				—				—				13,196
Collectively evaluated
for impairment			206,026				255,961				18,861				19,837				89,312				3,837				—				593,834

		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, 2020		$	1,035			$	3,232			$	672			$	179			$	1,034			$	1			$	247			$	6,400
Individually evaluated
for impairment			—				46				175				—				—				—				—				221
Collectively evaluated
for impairment			1,035				3,186				497				179				1,034				1				247				6,179
Loans receivable:
Balance - September 30, 2020		$	210,250			$	248,134			$	28,352			$	19,373			$	100,993			$	4,157			$	—			$	611,259
Individually evaluated
for impairment			2,601				4,405				5,141				—				2,014				—				—				14,161
Collectively evaluated
for impairment			207,649				243,729				23,211				19,373				98,979				4,157				—				597,098

Schedule of troubled debt restructurings

		Three Months Ended December 31, 2020
		Number of				Investment Before				Investment After
		Loans				TDR Modification				TDR Modification
		(Dollars in thousands)
One-to four-family residential			1			$	218			$	249
Total			1			$	218			$	249

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