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INVESTMENT SECURITIES

9 Months Ended

Jun. 30, 2021

Investments, Debt and Equity Securities [Abstract]

INVESTMENT SECURITIES

NOTE J – INVESTMENT SECURITIES

The following tables summarize the amortized cost and fair values of securities available for sale at June 30, 2021 and September 30, 2020:

		June 30, 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		$	203			$	8			$	-			$	211
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed securities - residential			13,614				53				(147	)			13,520
Total securities available for sale		$	13,817			$	61			$	(147	)		$	13,731

		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 June 30, 2021 are summarized in the following table:

		June 30, 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			13,817				13,731
Commercial			-				-
Total		$	13,817			$	13,731

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

14

Table of Contents

		June 30, 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		$	753			$	-			$	(29	)		$	724
Mortgage-backed securities - commercial			721				-				-				721
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed-securities - residential			30,035				470				(138	)			30,367
Debt securities			12,498				-				(141	)			12,357
Private label mortgage-backed securities - residential			247				4				-				251
Obligations of state and political subdivisions			1,044				-				(4	)			1,040
Corporate securities			3,000				-				(197	)			2,803
Total securities held to maturity		$	48,298			$	474			$	(509	)		$	48,263

		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 June 30, 2021 are summarized in the following table:

		June 30, 2021
		Amortized				Fair
		Cost				Value
		(In thousands)
Due within 1 year		$	-			$	-
Due after 1 but within 5 years			9,498				9,232
Due after 5 but within 10 years			6,528				6,455
Due after 10 years			516				513
Total debt securities			16,542				16,200
Mortgage-backed securities:
Residential			31,035				31,342
Commercial			721				721
Total		$	48,298			$	48,263

X

- References

No definition available.

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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

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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