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FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK (Tables)

3 Months Ended

Dec. 31, 2020

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK [Abstract]

Schedule of Information Regarding Derivatives

The following table presents summary information regarding these derivatives for December 31, 2020. There were no derivatives as of September 30, 2020.

		Notional Amount				Average Maturiy (Years)				Weighted Average Fixed Rate				Weighted Average Variable Rate		Fair Value
		(Dollars in thousands)
December 31, 2020
Classified in Other Assets:
Customer interest rate swaps		$	6,139				6.9				3.39%			1 Mo. LIBOR + 2.50		$	144
Classified in Other Liabilities:
3rd Party interest rate swaps		$	6,139				6.9				3.39%			1 Mo. LIBOR + 2.50		$	144

Schedule of fair value, off-balance sheet financial instruments

These financial instruments are commitments to extend credit are summarized in the below table. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated balance sheets.

		December 31,				September 30,
		2020				2020
		(In thousands)
Financial instruments whose contract amounts
represent credit risk
Letters of credit		$	1,041			$	1,041
Unused lines of credit			80,529				78,632
Fixed rate loan commitments			7,509				5,240
Variable rate loan commitments			7,628				15,864
			—
Total		$	96,707			$	100,777

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined) which are not recognized in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition.

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