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OTHER REAL ESTATE OWNED
12 Months Ended
Sep. 30, 2023
Other Real Estate Owned [Abstract]  
OTHER REAL ESTATE OWNED

NOTE G - OTHER REAL ESTATE OWNED

 

The Company held $328,000 of real estate owned properties at September 30, 2023 and $281,000 at September 30, 2022. The Company did not have any write-downs on these properties for the year ended September 30, 2023 and 2022. Further declines in real estate values may result in increased foreclosed real estate expense in the future. Routine holding costs are charged to expense as incurred and improvements to real estate owned that enhance the value of the real estate are capitalized.