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INVESTMENT SECURITIES (Tables)

9 Months Ended

Jun. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Summary of the amortized cost and fair values of securities available for sale

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

Summary of maturities of the debt securities and mortgage-backed securities available for sale

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

Summary of the amortized cost and fair values of securities held to maturity

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

Summary of maturities of the debt securities and mortgage-backed securities securities held to maturity

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

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Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=123581744&loc=SL120269825-111563

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=123581744&loc=SL120269820-111563

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27232-111563

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