STOCK-BASED COMPENSATION AND STOCK REPURCHASE PROGRAM (Tables)

12 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

The following is a summary of the status of the Company’s stock option activity and related information for its option plan for the period ended September 30, 2022 and 2021:

	Number of Stock Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
Balance at September 30, 2021		—	$	—		—	$	—
Granted		293,200		12.58		9.98		—
Exercised		—		—		—		—
Forfeited		—		—		—		—
Expired		—		—		—		—
Balance at September 30, 2022		293,200	$	12.58		9.98		—

Exercisable at September 30, 2022		—	$	—		—	$	—

Schedule of non-vested restricted shares

The following is a summary of the status of the Company’s non-vested restricted shares as of September 30, 2022 and 2021, and changes during those years:

	Number of Stock Awards		Weighted Average Grant Date Fair Value
Balance at September 30, 2021		—	$	—
Granted		156,400		12.63
Vested		—		—
Forfeited		—		—
Balance at September 30, 2022		156,400	$	12.63

Schedule of ESOP shares

The following table presents the components of the ESOP shares as of September 30, 2022:

Unreleased shares at September 30, 2020	14,757
Shares released for allocation during the year ended September 30, 2021	(14,757	)
Shares purchased by ESOP trustee during the year ended September 30, 2021	304,377
Unreleased shares at September 30, 2021	304,377
Shares released for allocation during the year ended September 30, 2022	(10,427	)
Shares purchased by ESOP trustee during the year ended September 30, 2022	8,423
Unreleased shares at September 30, 2022	302,373
Total released shares	187,887

Total ESOP shares	490,260