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FAIR VALUE DISCLOSURES (Tables)

3 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of assets measured at fair value on a recurring basis

December 31, 2022		Total				Level 1				Level 2				Level 3
Assets:		(In thousands)
Securities available for sale:
Obligations of U.S. government agencies:
Mortgage-backed securities - residential		$	104			$	—			$	104			$	—
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed securities-residential			9,103				—				9,103				—
Total securities available for sale		$	9,207			$	—			$	9,207			$	—
Derivative assets			2,471				—				2,471				—
Total assets		$	11,678			$	—			$	11,678			$	—
Liabilities:
Derivative liabilities		$	2,471			$	—			$	2,471			$	—
Total Liabilities		$	2,471			$	—			$	2,471			$	—
September 30, 2022
Assets:
Securities available for sale:
Obligations of U.S. government agencies:
Mortgage-backed securities - residential		$	107			$	—			$	107			$	—
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed securities-residential			9,122				—				9,122				—
Total securities available for sale		$	9,229			$	—			$	9,229			$	—
Derivative assets			2,487				—				2,487				—
Total assets		$	11,716			$	—			$	11,716			$	—
Liabilities:
Derivative liabilities		$	2,487			$	—			$	2,487			$	—
Total Liabilities		$	2,487			$	—			$	2,487			$	—

Schedule of assets measured at fair value on a non-recurring basis

December 31, 2022		Total				Level 1				Level 2				Level 3
		(In thousands)
Impaired loans		$	5,847			$	—			$	—			$	5,847
Other real estate owned			291				—				—				291
Total		$	6,138			$	—			$	—			$	6,138

September 30, 2022		Total				Level 1				Level 2				Level 3
		(In thousands)
Impaired loans		$	5,659			$	—			$	—			$	5,659
Other real estate owned			281				—				—				281
Total		$	5,940			$	—			$	—			$	5,940

Schedule of quantitative information about assets measured at fair value on a nonrecurring bassis for which Level 3 inputs were used to determine fair value

Quantitative Information about Level 3 Fair Value Measurements
(Dollars in thousands)
		Fair Value				Valuation
December 31, 2022		Estimate				Techniques		Unobservable Input		Range (Weighted Average)
Impaired loans		$	5,847			Appraisal of collateral (1)		Appraisal adjustments (2)		0% to -31.7% (-11.4%)
Other real estate owned		$	291			Appraisal of collateral (1)		Liquidation expenses (2)		-25.3% to -25.3% (-25.3%)

		Fair Value				Valuation
September 30, 2022		Estimate				Techniques		Unobservable Input		Range (Weighted Average)
Impaired loans		$	5,659			Appraisal of collateral (1)		Appraisal adjustments (2)		0% to -31.7% (-9.9%)
Other real estate owned		$	281			Appraisal of collateral (1)		Liquidation expenses (2)		-28.0% to -28.0% (-28.0%)

Schedule of the carrying amount, fair value, and placement in the fair value hierarchy of financial instruments carried at cost or amortized cost

		Carrying				Fair				Fair Value Measurement Placement
		Value				Value				(Level 1)				(Level 2)				(Level 3)
		(In thousands)
December 31, 2022
Financial instruments - assets
Investment securities held to maturity		$	90,630			$	79,632			$	—			$	79,632			$	—
Loans			666,080				641,727				—				—				641,727
Financial instruments - liabilities
Certificates of deposit including retirement certificates			84,412				83,345				—				83,345				—
Borrowings			29,725				28,946				—				28,946				—
September 30, 2022
Financial instruments - assets
Investment securities held-to-maturity		$	91,646			$	79,914			$	—			$	79,914			$	—
Loans			619,843				592,804				—				—				592,804
Financial instruments - liabilities
Certificates of deposit			82,609				81,289				—				81,289				—
Borrowings			15,625				14,762				—				14,762				—

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Topic 820
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-Subparagraph (a)
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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

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