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INVESTMENT SECURITIES (Tables) | 3 Months Ended
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Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Summary of the amortized cost and fair values of securities mortgage-backed and securities held to maturity | The following table summarizes the amortized cost and fair values of securities classified as available-for-sale and held-to-maturity at December 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 |  | $ | 153 |  |  | $ | 5 |  |  | $ | - |  |  | $ | 158 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities-residential |  |  | 12,255 |  |  |  | 23 |  |  |  | (255 | ) |  |  | 12,023 |
Total securities available-for-sale |  | $ | 12,408 |  |  | $ | 28 |  |  | $ | (255 | ) |  | $ | 12,181 |
Securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 3,447 |  |  | $ | 1 |  |  | $ | (25 | ) |  | $ | 3,423 |
Mortgage-backed securities - commercial |  |  | 684 |  |  |  | - |  |  |  | - |  |  |  | 684 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed-securities - residential |  |  | 41,939 |  |  |  | 308 |  |  |  | (560 | ) |  |  | 41,687 |
Debt securities |  |  | 14,498 |  |  |  | - |  |  |  | (307 | ) |  |  | 14,191 |
Private label mortgage-backed securities - residential |  |  | 238 |  |  |  | 5 |  |  |  | - |  |  |  | 243 |
Obligations of state and political subdivisions |  |  | 2,661 |  |  |  | 1 |  |  |  | (22 | ) |  |  | 2,640 |
Corporate securities |  |  | 3,000 |  |  |  | - |  |  |  | (197 | ) |  |  | 2,803 |
Total securities held-to-maturity |  | $ | 66,467 |  |  | $ | 315 |  |  | $ | (1,111 | ) |  | $ | 65,671 |
Total investment securities |  | $ | 78,875 |  |  | $ | 343 |  |  | $ | (1,366 | ) |  | $ | 77,852 |
The following table summarizes the amortized cost and fair values of securities classified as available-for-sale and held-to-maturity at September 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 |  | $ | 179 |  |  | $ | 7 |  |  | $ | - |  |  | $ | 186 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities-residential |  |  | 12,922 |  |  |  | 27 |  |  |  | (208 | ) |  |  | 12,741 |
Total securities available-for-sale |  | $ | 13,101 |  |  | $ | 34 |  |  | $ | (208 | ) |  | $ | 12,927 |
Securities-held to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 574 |  |  | $ | - |  |  | $ | (25 | ) |  | $ | 549 |
Mortgage-backed securities - commercial |  |  | 703 |  |  |  | - |  |  |  | - |  |  |  | 703 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage backed securities - residential |  |  | 38,596 |  |  |  | 416 |  |  |  | (389 | ) |  |  | 38,623 |
Debt securities |  |  | 12,498 |  |  |  | - |  |  |  | (156 | ) |  |  | 12,342 |
Private label mortgage-backed securities - residential |  |  | 242 |  |  |  | 6 |  |  |  | - |  |  |  | 248 |
Corporate securities |  |  | 3,000 |  |  |  | - |  |  |  | (196 | ) |  |  | 2,804 |
Total securities held-to-maturity |  | $ | 57,660 |  |  | $ | 422 |  |  | $ | (800 | ) |  | $ | 57,282 |
Total investment securities |  | $ | 70,761 |  |  | $ | 456 |  |  | $ | (1,008 | ) |  | $ | 70,209 |
Schedule amortized cost, gross unrealized gians or losses and fair values of investment securities available for sale and held to maturity | The contractual maturities of mortgage-backed securities generally exceed 10 years; however, the effective lives are expected to be shorter due to anticipated prepayments. The maturities of the debt securities, municipal bonds and certain information regarding the mortgage backed securities at December 31, 2021 are summarized in the following table:
|  | Amortized |  |  | Fair |
|  | Cost |  |  | Value |
|  | (In thousands) |
Securities available-for-sale: |  |  |  |  |  |  |  |
Mortgage-backed securities: |  |  |  |  |  |  |  |
Residential |  |  | 12,408 |  |  |  | 12,181 |
Commercial |  |  | - |  |  |  | - |
Total |  |  | 12,408 |  |  |  | 12,181 |
Securities held-to-maturity |  |  |  |  |  |  |  |
Due within 1 year |  | $ | - |  |  | $ | - |
Due after 1 but within 5 years |  |  | 13,498 |  |  |  | 13,091 |
Due after 5 but within 10 years |  |  | 6,146 |  |  |  | 6,035 |
Due after 10 years |  |  | 515 |  |  |  | 508 |
Total debt securities |  |  | 20,159 |  |  |  | 19,634 |
Mortgage-backed securities: |  |  |  |  |  |  |  |
Residential |  |  | 45,624 |  |  |  | 45,353 |
Commercial |  |  | 684 |  |  |  | 684 |
Total |  | $ | 66,467 |  |  | $ | 65,671 |

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- Definition 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 + Details
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- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References No definition available. + Details
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