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INVESTMENT SECURITIES

6 Months Ended

Mar. 31, 2021

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 March 31, 2021 and September 30, 2020:

		March 31, 2021
						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		$	242			$	11			$	—			$	253
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed securities - residential			14,267				21				(282	)			14,006
Total securities available for sale		$	14,509			$	32			$	(282	)		$	14,259

		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 March 31, 2021 are summarized in the following table:

		March 31, 2021
		Amortized				Fair
		Cost				Value
		(In thousands)
Due within 1 year		$	—			$	—
Due after 1 but within 5 years			—				—
Due after 5 but within 10 years			—				—
Due after 10 years			—				—
Total debt securities			—				—
Mortgage-backed securities:
Residential			14,509				14,259
Commercial			—				—
Total		$	14,509			$	14,259

The following tables summarize the amortized cost and fair values of securities held to maturity at March 31, 2021 and September 30, 2020:

		March 31, 2021
						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		$	939			$	—			$	(33	)		$	906
Mortgage-backed securities - commercial			738				—				—				738
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed-securities - residential			23,371				455				(277	)			23,549
Debt securities			12,498				—				(266	)			12,232
Private label mortgage-backed securities - residential			251				4				—				255
Corporate securities			3,000				—				(196	)			2,804
Total securities held to maturity		$	40,797			$	459			$	(772	)		$	40,484

		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 March 31, 2021 are summarized in the following table:

		March 31, 2021
		Amortized				Fair
		Cost				Value
		(In  thousands)
Due within 1 year		$	—			$	—
Due after 1 but within 5 years			6,498				6,384
Due after 5 but within 10 years			9,000				8,652
Due after 10 years			—				—
Total debt securities			15,498				15,036
Mortgage-backed securities:
Residential			24,561				24,710
Commercial			738				738
Total		$	40,797			$	40,484

X

- References

No definition available.

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X

- 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

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph (b)

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