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INVESTMENT SECURITIES (Tables) | 6 Months Ended
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Mar. 31, 2024
Investment Securities [Abstract] |
Schedule of Amortized Cost and Fair Values of Securities Held to Maturity | The following table summarizes the amortized cost and fair values of securities classified as available-for-sale and held-to-maturity at March 31, 2024:
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
March 31, 2024 |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
|  | (In thousands) |
Securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 100 |  |  | $ | — |  |  | $ | (10 | ) |  | $ | 90 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities-residential |  |  | 13,277 |  |  |  | 18 |  |  |  | (1,472 | ) |  |  | 11,823 |
Total securities available-for-sale |  | $ | 13,377 |  |  | $ | 18 |  |  | $ | (1,482 | ) |  | $ | 11,913 |
Securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 4,887 |  |  | $ | — |  |  | $ | (728 | ) |  | $ | 4,159 |
Mortgage-backed securities - commercial |  |  | 4,425 |  |  |  | — |  |  |  | (35 | ) |  |  | 4,390 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed-securities - residential |  |  | 46,471 |  |  |  | — |  |  |  | (6,605 | ) |  |  | 39,866 |
Debt securities |  |  | 20,999 |  |  |  | — |  |  |  | (1,369 | ) |  |  | 19,630 |
Private label mortgage-backed securities - residential |  |  | 199 |  |  |  | — |  |  |  | (10 | ) |  |  | 189 |
Obligations of state and political subdivisions |  |  | 3,457 |  |  |  | 2 |  |  |  | (392 | ) |  |  | 3,067 |
Corporate securities |  |  | 3,000 |  |  |  | — |  |  |  | (197 | ) |  |  | 2,803 |
Total securities held-to-maturity |  | $ | 83,438 |  |  | $ | 2 |  |  | $ | (9,336 | ) |  | $ | 74,104 |
Total investment securities |  | $ | 96,815 |  |  | $ | 20 |  |  | $ | (10,818 | ) |  | $ | 86,017 |
The following table summarizes the amortized cost of held-to-maturity debt securities at March 31, 2024, aggregated by credit quality indicator:
|  | Credit Rating at Amortized Cost |
|  | AAA/AA/A |  |  | BBB/BB/B |  |  | Non-rated |
March 31, 2024 |  |  | (In thousands) |
Securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 4,887 |  |  | $ | — |  |  | $ | — |
Mortgage-backed securities - commercial |  |  | 4,425 |  |  |  | — |  |  |  | — |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage backed securities - residential |  |  | 46,471 |  |  |  | — |  |  |  | — |
Debt securities |  |  | 20,999 |  |  |  | — |  |  |  | — |
Private label mortgage-backed securities - residential |  |  | — |  |  |  | — |  |  |  | 199 |
Obligations of state and political subdivisions |  |  | 3,457 |  |  |  | — |  |  |  | — |
Corporate securities |  |  | — |  |  |  | 3,000 |  |  |  | — |
Totals |  | $ | 80,239 |  |  | $ | 3,000 |  |  | $ | 199 |
The following table summarizes the amortized cost and fair values of securities classified as available-for-sale and held-to-maturity at September 30, 2023:
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
September 30, 2023 |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
|  | (In thousands) |
Securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage backed securities - residential |  | $ | 106 |  |  | $ | — |  |  | $ | (14 | ) |  | $ | 92 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities-residential |  |  | 11,984 |  |  |  | — |  |  |  | (1,951 | ) |  |  | 10,033 |
Total securities available for sale |  | $ | 12,090 |  |  | $ | — |  |  | $ | (1,965 | ) |  | $ | 10,125 |
Securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 5,070 |  |  | $ | — |  |  | $ | (850 | ) |  | $ | 4,220 |
Mortgage-backed securities - commercial |  |  | 2,509 |  |  |  | — |  |  |  | (16 | ) |  |  | 2,493 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage backed securities - residential |  |  | 48,086 |  |  |  | — |  |  |  | (8,480 | ) |  |  | 39,606 |
Debt securities |  |  | 23,497 |  |  |  | — |  |  |  | (1,947 | ) |  |  | 21,550 |
Private label mortgage-backed securities - residential |  |  | 207 |  |  |  | — |  |  |  | (12 | ) |  |  | 195 |
Obligations of state and political subdivisions |  |  | 3,466 |  |  |  | — |  |  |  | (605 | ) |  |  | 2,861 |
Corporate securities |  |  | 3,000 |  |  |  | — |  |  |  | (197 | ) |  |  | 2,803 |
Total securities held to maturity |  | $ | 85,835 |  |  | $ | — |  |  | $ | (12,107 | ) |  | $ | 73,728 |
Total investment securities |  | $ | 97,925 |  |  | $ | — |  |  | $ | (14,072 | ) |  | $ | 83,853 |
Schedule of Maturities Debt Securities and Mortgage Backed Securities Held to Maturity | The contractual maturities of debt securities, municipal bonds and certain information regarding mortgage-backed securities at March 31, 2024 are summarized in the following table:
|  | March 31, 2024 |
|  | Amortized |  |  | Fair |
|  | Cost |  |  | Value |
|  | (In thousands) |
Due within 1 year |  | $ | 6,499 |  |  | $ | 6,335 |
Due after 1 but within 5 years |  |  | 16,027 |  |  |  | 14,952 |
Due after 5 but within 10 years |  |  | 4,930 |  |  |  | 4,213 |
Due after 10 years |  |  | — |  |  |  | — |
Total debt securities |  |  | 27,456 |  |  |  | 25,500 |
Mortgage backed securities: |  |  |  |  |  |  |  |
Residential |  |  | 64,934 |  |  |  | 56,127 |
Commercial |  |  | 4,425 |  |  |  | 4,390 |
Total |  | $ | 96,815 |  |  | $ | 86,017 |

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