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DEPOSITS
 6 Months Ended
Mar. 31, 2023
Deposits [Abstract]  
DEPOSITS

NOTE K - DEPOSITS

 

A summary of deposits by type of account are summarized as follows:

 

   March 31,   September 30, 
   2023   2022 
   (In thousands) 
         
Demand accounts  $198,031   $182,417 
Savings accounts   72,416    81,850 
NOW accounts   95,322    98,643 
Money market accounts   242,402    222,214 
Certificates of deposit   77,463    69,929 
Retirement certificates   12,257    12,680 
Total deposits  $697,891   $667,733 

 

Included in Company’s deposits at March 31, 2023 were $11.4 million in brokered certificates of deposits and $13.6 million in certificate of deposits through a national deposit listing service. At September 30, 2022 the Company had $6.0 million in brokered certificates of deposits and $14.6 million in certificate of deposits obtained from a national deposit listing service.

 

The current FDIC insurance limit on bank deposit accounts is $250,000. The aggregate amount of deposit accounts with a denomination of $250,000 or more was approximately $399.8 million at March 31, 2023 compared with $399.9 million at September 30, 2022.

 

The aggregate amount of deposit accounts of State and local municipalities was $201.6 million at March 31, 2023 compared with $140.6 million at September 30, 2022. The largest municipal depositor held $101.4 million at March 31, 2023 compared with $50.6 million at September 30, 2022. State and local municipality deposits in excess of $250,000 are collateralized by investment securities and municipal lines of credit with the Federal Home Loan Bank of New York (FHLBNY”).