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INVESTMENT SECURITIES

6 Months Ended

Mar. 31, 2023

Investments Securities [Abstract]

INVESTMENT SECURITIES

NOTE H - INVESTMENT SECURITIES

The following table summarizes the amortized cost and fair values of securities classified as available-for-sale and held-to-maturity at March 31, 2023:

						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
March 31, 2023		Cost				Gains				Losses				Value
		(In thousands)
Securities available-for-sale:
Obligations of U.S. government agencies:
Mortgage-backed securities - residential		$	112			$	—			$	(8	)		$	104
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed securities - residential			10,580				1				(1,527	)			9,054
Total securities available-for-sale		$	10,692			$	1			$	(1,535	)		$	9,158
Securities held-to-maturity:
Obligations of U.S. government agencies:
Mortgage-backed securities - residential		$	5,300			$	—			$	(643	)		$	4,657
Mortgage-backed securities - commercial			599				—				(2	)			597
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed-securities - residential			47,302				—				(6,528	)			40,774
Debt securities			24,830				—				(1,864	)			22,966
Private label mortgage-backed securities - residential			216				—				(17	)			199
Obligations of state and political subdivisions			3,475				17				(332	)			3,160
Corporate securities			8,000				—				(396	)			7,604
Total securities held-to-maturity		$	89,722			$	17			$	(9,782	)		$	79,957
Total investment securities		$	100,414			$	18			$	(11,317	)		$	89,115

The contractual maturities of the debt securities, municipal bonds and certain information regarding to the mortgage-backed securities available-for-sale at March 31, 2023 are summarized in the following table:

		March 31, 2023
		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			10,692				9,158
Commercial			—				—
Total		$	10,692			$	9,158

The contractual maturities of the debt securities, municipal bonds and certain information regarding to the mortgage-backed securities held-to-maturity at March 31, 2023 are summarized in the following table:

		March 31, 2023
		Amortized				Fair
		Cost				Value
		(In thousands)
Due within 1 year		$	10,831			$	10,623
Due after 1 but within 5 years			20,527				18,833
Due after 5 but within 10 years			4,435				3,846
Due after 10 years			512				428
Total debt securities			36,305				33,730
Mortgage-backed securities:
Residential			52,818				45,630
Commercial			599				597
Total		$	89,722			$	79,957

The following table summarizes the amortized cost and fair values of securities classified as available-for-sale and held-to-maturity at September 30, 2022:

						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
September 30, 2022		Cost				Gains				Losses				Value
		(In thousands)
Securities available-for-sale:
Obligations of U.S. government agencies:
Mortgage backed securities - residential		$	118			$	—			$	(11	)		$	107
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed securities - residential			11,029				—				(1,907	)			9,122
Total securities available for sale		$	11,147			$	—			$	(1,918	)		$	9,229
Securities held-to-maturity:
Obligations of U.S. government agencies:
Mortgage-backed securities - residential		$	5,525			$	—			$	(717	)		$	4,808
Mortgage-backed securities - commercial			631				—				—				631
Obligations of U.S. government-sponsored enterprises:
Mortgage backed securities - residential			48,961				12				(7,548	)			41,425
Debt securities			24,821				—				(2,395	)			22,426
Private label mortgage-backed securities - residential			224				—				(10	)			214
Obligations of state and political subdivisions			3,484				—				(638	)			2,846
Corporate securities			8,000				—				(436	)			7,564
Total securities held to maturity		$	91,646			$	12			$	(11,744	)		$	79,914
Total investment securities		$	102,793			$	12			$	(13,662	)		$	89,143

As of March 31, 2023 investment securities having an estimated fair value of approximately $49.5 million were pledged to secure public deposits.

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//320/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-6B

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-6B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph (b)
-Publisher SEC

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//946-320/tableOfContent

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 940
-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//940-320/tableOfContent

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//942-320/tableOfContent

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