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

6 Months Ended

Mar. 31, 2021

Receivables [Abstract]

Schedule of loans receivable, net

Loans receivable, net were comprised of the following:

		March 31,				September 30,
		2021				2020
		(In thousands)
One-to-four family residential		$	208,656			$	210,360
Commercial real estate			275,678				248,134
Construction			22,495				28,242
Home equity lines of credit			17,621				19,373
Commercial business			98,127				100,993
Other			3,746				4,157
Total loans receivable			626,323				611,259
Net deferred loan costs			(1,794	)			(1,749	)
Allowance for loan losses			(7,554	)			(6,400	)
Total loans receivable, net		$	616,975			$	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
March 31, 2021		Investment				Allowance				Investment				Investment				Balance
		(In thousands)
One-to-four family residential		$	—			$	—			$	2,367			$	2,367			$	2,367
Commercial real estate			599				10				3,077				3,676				3,676
Construction			1,745				29				2,835				4,580				4,645
Commercial business			—				—				1,889				1,889				1,889
Total impaired loans		$	2,344			$	39			$	10,168			$	12,512			$	12,577

										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 and six months ended March 31, 2021 and 2020. There was no interest income recognized on impaired loans during the periods presented.

		Three Months				Six Months
		Ended March 31, 2021				Ended March 31, 2021
		(In thousands)
One-to-four family residential		$	2,373			$	2,449
Commercial real estate			4,006				4,139
Construction			4,580				4,767
Commercial business			1,896				1,935
Average investment in impaired loans		$	12,855			$	13,290

		Three Months				Six Months
		Ended March 31, 2020				Ended March 31, 2020
		(In thousands)
One-to-four family residential		$	1,787			$	1,659
Commercial real estate			2,995				3,528
Construction			4,053				3,669
Commercial business			1,441				1,446
Average investment in impaired loans		$	10,276			$	10,302

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)
March 31, 2021
One-to-four family residential		$	206,936			$	—			$	1,720			$	—			$	208,656
Commercial real estate			270,419				2,704				2,555				—				275,678
Construction			17,915				—				4,580				—				22,495
Home equity lines of credit			17,621				—				—				—				17,621
Commercial business			96,603				12				1,512				—				98,127
Other			3,746				—				—				—				3,746
Total		$	613,240			$	2,716			$	10,367			$	—			$	626,323

						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)
March 31, 2021
One-to-four family residential		$	207,199			$	546			$	—			$	911			$	1,457			$	911			$	208,656
Commercial real estate			272,591				—				539				2,548				3,087				2,548				275,678
Construction			17,915				—				—				4,580				4,580				4,580				22,495
Home equity lines of credit			17,621				—				—				—				—				—				17,621
Commercial business			96,615				—				—				1,512				1,512				1,512				98,127
Other			3,746				—				—				—				—				—				3,746
Total		$	615,687			$	546			$	539			$	9,551			$	10,636			$	9,551			$	626,323

						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 six months ended March 31, 2021:

		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
Charge-offs			—				(50	)			—				—				—				—				—				(50	)
Recoveries			1				—				—				—				6				—				—				7
Provision (credit)			(29	)			351				(22	)			(10	)			30				(1	)			148				467
Balance- March 31, 2021		$	1,127			$	3,709			$	448			$	257			$	1,752			$	1			$	260			$	7,554

The following table summarizes the ALL by loan category and the related activity for the six months ended March 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, 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
Charge-offs			—				—				—				—				—				—				—				—
Recoveries			5				—				—				—				—				—				—				5
Provision (credit)			227				457				70				42				(287	)			(2	)			(87	)			420
Balance- March 31, 2020		$	939			$	2,376			$	644			$	182			$	1,208			$	—			$	176			$	5,525

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 March 31, 2021 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 - March 31, 2021		$	1,127			$	3,709			$	448			$	257			$	1,752			$	1			$	260			$	7,554
Individually evaluated
for impairment			—				10				29				—				—				—				—				39
Collectively evaluated
for impairment			1,127				3,699				419				257				1,752				1				260				7,515
Loans receivable:
Balance - March 31, 2021		$	208,656			$	275,678			$	22,495			$	17,621			$	98,127			$	3,746			$	—			$	626,323
Individually evaluated
for impairment			2,367				3,676				4,580				—				1,889				—				—				12,512
Collectively evaluated
for impairment			206,289				272,002				17,915				17,621				96,238				3,746				—				613,811

		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

The TDR during the six months ended March 31, 2021 was performing in accordance with its restructured terms at March 31, 2021.

		Six Months Ended March 31, 2021
		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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