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INVESTMENT SECURITIES (Tables) | 9 Months Ended
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Jun. 30, 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 June 30, 2024:
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
June 30, 2024 |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
|  | (In thousands) |
Securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 98 |  |  | $ | — |  |  | $ | (11 | ) |  | $ | 87 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities-residential |  |  | 12,964 |  |  |  | 15 |  |  |  | (1,506 | ) |  |  | 11,473 |
Corporate securities |  |  | 4,000 |  |  |  | 24 |  |  |  | — |  |  |  | 4,024 |
Total securities available-for-sale |  | $ | 17,062 |  |  | $ | 39 |  |  | $ | (1,517 | ) |  | $ | 15,584 |
Securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 4,801 |  |  | $ | — |  |  | $ | (758 | ) |  | $ | 4,043 |
Mortgage-backed securities - commercial |  |  | 4,353 |  |  |  | — |  |  |  | (31 | ) |  |  | 4,322 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed-securities - residential |  |  | 44,116 |  |  |  | 3 |  |  |  | (6,682 | ) |  |  | 37,437 |
Debt securities |  |  | 18,999 |  |  |  | — |  |  |  | (1,234 | ) |  |  | 17,765 |
Private label mortgage-backed securities - residential |  |  | 195 |  |  |  | — |  |  |  | (11 | ) |  |  | 184 |
Obligations of state and political subdivisions |  |  | 3,453 |  |  |  | — |  |  |  | (470 | ) |  |  | 2,983 |
Corporate securities |  |  | 3,000 |  |  |  | — |  |  |  | (234 | ) |  |  | 2,766 |
Total securities held-to-maturity |  | $ | 78,917 |  |  | $ | 3 |  |  | $ | (9,420 | ) |  | $ | 69,500 |
Total investment securities |  | $ | 95,979 |  |  | $ | 42 |  |  | $ | (10,937 | ) |  | $ | 85,084 |
The following table summarizes the amortized cost of held-to-maturity debt securities at June 30, 2024, aggregated by credit quality indicator:
|  | Credit Rating at Amortized Cost |
|  | AAA/AA/A |  |  | BBB/BB/B |  |  | Non-rated |
June 30, 2024 |  | (In thousands) |
Securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 4,801 |  |  | $ | — |  |  | $ | — |
Mortgage-backed securities - commercial |  |  | 4,353 |  |  |  | — |  |  |  | — |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage backed securities - residential |  |  | 44,116 |  |  |  | — |  |  |  | — |
Debt securities |  |  | 18,999 |  |  |  | — |  |  |  | — |
Private label mortgage-backed securities - residential |  |  | — |  |  |  | — |  |  |  | 195 |
Obligations of state and political subdivisions |  |  | 3,453 |  |  |  | — |  |  |  | — |
Corporate securities |  |  | — |  |  |  | 3,000 |  |  |  | — |
Totals |  | $ | 75,722 |  |  | $ | 3,000 |  |  | $ | 195 |
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 June 30, 2024 are summarized in the following table:
|  | June 30, 2024 |
|  | Amortized |  |  | Fair |
|  | Cost |  |  | Value |
|  | (In thousands) |
Due within 1 year |  | $ | 6,500 |  |  | $ | 6,318 |
Due after 1 but within 5 years |  |  | 14,541 |  |  |  | 13,501 |
Due after 5 but within 10 years |  |  | 8,411 |  |  |  | 7,719 |
Due after 10 years |  |  | — |  |  |  | — |
Total debt securities |  |  | 29,452 |  |  |  | 27,538 |
Mortgage backed securities: |  |  |  |  |  |  |  |
Residential |  |  | 62,174 |  |  |  | 53,224 |
Commercial |  |  | 4,353 |  |  |  | 4,322 |
Total |  | $ | 95,979 |  |  | $ | 85,084 |

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