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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Sep. 30, 2024

Summary of Significant Accounting Policies [Abstract]

Schedule of Basic and Diluted Earnings Per Share

Basic and diluted earnings per share were calculated by dividing net income by the weighted-average number of shares outstanding for the periods.

		Years Ended
		September 30,
		2024				2023
		(Dollars in thousands, except share and per share data)
Income applicable to common shares		$	7,783			$	7,709
Weighted average shares outstanding - basic			6,341,610				6,424,796
Potential diliutive common stock equivalents			—				—
Weighted average shares outstanding - diluted			6,341,610				6,424,796
Earnings per share - basic		$	1.23			$	1.20
Earnings per share - diluted		$	1.23			$	1.20

Schedule of Comprehensive Income

The other items allocated to comprehensive income, as well as the related income tax effects, for the years ended September 30, 2024 and 2023 were as follows:

		September 30,
		2024												2023
										Net of												Net of
		Before Tax				Tax				Tax				Before Tax				Tax				Tax
		Amount				Expense				Amount				Amount				Expense				Amount
		(In thousands)
Unrealized holding gain (loss) arising during period on:
Available-for-sale investments		$	834			$	(205	)		$	629			$	(47	)		$	12			$	(35	)
Defined benefit pension plan			297				(91	)			206				394				(122	)			272
Total unrealized holding gain arising during period			1,131				(296	)			835				347				(110	)			237
Reclassification of pension costs			53				(15	)			38				122				(34	)			88
Other comprehensive income, net		$	1,184			$	(311	)		$	873			$	469			$	(144	)		$	325

Schedule of Accumulated Other Comprehensive Loss

Details about the reclassification of accumulated other comprehensive loss components and the affected line item in the Consolidated Statements of Income for the years ended September 30, 2024 and 2023 were as follows:

		Amount Reclassified From
		Accumulated Other Comprehensive								Affected Line Item in the Consolidated
		Loss For the Year Ended September 30,								Statements of Income
		2024				2023
		(In thousands)
Defined benefit pension plan (1)
Amortization of net gain and prior service costs		$	53			$	122			Other expenses
Related income tax benefit			(15	)			(34	)		Income taxes
Net effect on accumulated other comprehensive loss			38				88
Total reclassification		$	38			$	88

⁽¹⁾ For additional details related to the defined benefit pension plan, see Note L- Pension Plan.  

Schedule Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss at September 30, 2024 and 2023 were as follows:

		September 30,
		2024				2023
		(In thousands)
Available-for-sale investments, net of tax		$	(853	)		$	(1,481	)
Defined benefit pension plan, net of tax			(63	)			(308	)
Total accumulated other comprehensive loss		$	(916	)		$	(1,789	)

Schedule of Allowance for Credit Loss

The impact of the change from the incurred loss model to the current expected credit loss model using ACL is included in the following table:

		October 1, 2023
						Adoption
		Pre-adoption				Impact				As Reported
		(In thousands)
Assets
ACL on debt securities held-to-maturity		$	—			$	—			$	—
ACL on loans
One-to-four family residential			1,259				7				1,266
Commercial real estate			5,277				(589	)			4,688
Construction and land			472				(55	)			417
Home equity loans and lines of credit			207				(87	)			120
Commercial business			939				(133	)			806
Other			176				(175	)			1
Liabilities
ACL on unfunded commitments			—				540				540
Total		$	8,330			$	(492	)		$	7,838

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Tabular disclosure of condensed statement of comprehensive income (loss) including, but not limited to, statements of comprehensive income (loss) of consolidated entities and consolidation eliminations.

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