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FAIR VALUE DISCLOSURES (Tables)

6 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of assets measured at fair value on a recurring basis

March 31, 2023		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			9,054				—				9,054				—
Total securities available for sale		$	9,158			$	—			$	9,158			$	—
Derivative assets			2,206				—				2,206				—
Total assets		$	11,364			$	—			$	11,364			$	—
Liabilities:
Derivative liabilities		$	2,206			$	—			$	2,206			$	—
Total Liabilities		$	2,206			$	—			$	2,206			$	—
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

March 31, 2023		Total				Level 1				Level 2				Level 3
		(In thousands)
Impaired loans		$	2,835			$	—			$	—			$	2,835
Total		$	2,835			$	—			$	—			$	2,835

September 30, 2022		Total				Level 1				Level 2				Level 3
		(In thousands)
Impaired loans		$	5,659			$	—			$	—			$	5,659
Total		$	5,659			$	—			$	—			$	5,659

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

	Fair Value		Valuation
March 31, 2023	Estimate		Techniques	Unobservable Input	Range (Weighted Average)
Impaired loans	$	2,835	Appraisal of collateral (1)	Appraisal adjustments (2)	0% to -12.0% (-6.0%)

	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%)

⁽¹⁾ Fair value is generally determined through independent appraisals for the underlying collateral, which generally include various level 3 inputs which are not identifiable.

⁽²⁾ Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.

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)
March 31, 2023
Financial instruments - assets
Investment securities held to maturity		$	89,722			$	79,957			$	—			$	79,957			$	—
Loans			667,266				640,741				—				—				640,741
Financial instruments - liabilities
Certificates of deposit including retirement certificates			89,720				89,026				—				89,026				—
Borrowings			25,534				24,914				—				24,914				—
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

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-Name Accounting Standards Codification
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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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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).

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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.

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