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INVESTMENT SECURITIES (Tables) | 6 Months Ended
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Mar. 31, 2025
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, 2025:
|  | March 31, 2025 |
|  |  |  |  | Gross |  |  | Gross |  |  | Allowance for |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Credit |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Losses |  |  | Value |
|  | (In thousands) |
Securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage backed securities - residential |  | $ | 92 |  |  | $ | — |  |  | $ | (9 | ) |  | $ | — |  |  | $ | 83 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities-residential |  |  | 16,357 |  |  |  | 51 |  |  |  | (1,245 | ) |  |  | — |  |  |  | 15,163 |
Corporate securities |  |  | 4,000 |  |  |  | 99 |  |  |  | — |  |  |  | — |  |  |  | 4,099 |
Total securities available-for-sale |  | $ | 20,449 |  |  | $ | 150 |  |  | $ | (1,254 | ) |  | $ | — |  |  | $ | 19,345 |
Securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 6,901 |  |  | $ | — |  |  | $ | (699 | ) |  | $ | — |  |  | $ | 6,202 |
Mortgage-backed securities - commercial |  |  | 4,051 |  |  |  | 38 |  |  |  | (34 | ) |  |  | — |  |  |  | 4,055 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage backed securities - residential |  |  | 42,564 |  |  |  | 2 |  |  |  | (5,576 | ) |  |  | — |  |  |  | 36,990 |
Debt securities |  |  | 14,500 |  |  |  | — |  |  |  | (675 | ) |  |  | — |  |  |  | 13,825 |
Private label mortgage-backed securities - residential |  |  | 183 |  |  |  | — |  |  |  | (5 | ) |  |  | — |  |  |  | 178 |
Obligations of state and political subdivisions |  |  | 3,439 |  |  |  | — |  |  |  | (428 | ) |  |  | — |  |  |  | 3,011 |
Corporate securities |  |  | 3,000 |  |  |  | — |  |  |  | (140 | ) |  |  | — |  |  |  | 2,860 |
Total securities held-to-maturity |  | $ | 74,638 |  |  | $ | 40 |  |  | $ | (7,557 | ) |  | $ | — |  |  | $ | 67,121 |
Total investment securities |  | $ | 95,087 |  |  | $ | 190 |  |  | $ | (8,811 | ) |  | $ | — |  |  | $ | 86,466 |
The following table summarizes the amortized cost and fair values of securities classified as available-for-sale and held-to-maturity at September 30, 2024:
|  | September 30, 2024 |
|  |  |  |  | Gross |  |  | Gross |  |  | Allowance for |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Credit |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Losses |  |  | Value |
|  | (In thousands) |
Securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage backed securities - residential |  | $ | 95 |  |  | $ | — |  |  | $ | (6 | ) |  | $ | — |  |  | $ | 89 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities-residential |  |  | 12,652 |  |  |  | 56 |  |  |  | (1,202 | ) |  |  | — |  |  |  | 11,506 |
Corporate securities |  |  | 4,000 |  |  |  | 21 |  |  |  | — |  |  |  | — |  |  |  | 4,021 |
Total securities available-for-sale |  | $ | 16,747 |  |  | $ | 77 |  |  | $ | (1,208 | ) |  | $ | — |  |  | $ | 15,616 |
Securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 7,209 |  |  | $ | — |  |  | $ | (611 | ) |  | $ | — |  |  | $ | 6,598 |
Mortgage-backed securities - commercial |  |  | 4,268 |  |  |  | 64 |  |  |  | (23 | ) |  |  | — |  |  |  | 4,309 |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage backed securities - residential |  |  | 42,701 |  |  |  | 4 |  |  |  | (5,194 | ) |  |  | — |  |  |  | 37,511 |
Debt securities |  |  | 19,000 |  |  |  | 13 |  |  |  | (865 | ) |  |  | — |  |  |  | 18,148 |
Private label mortgage-backed securities - residential |  |  | 190 |  |  |  | — |  |  |  | (5 | ) |  |  | — |  |  |  | 185 |
Obligations of state and political subdivisions |  |  | 3,448 |  |  |  | 3 |  |  |  | (351 | ) |  |  | — |  |  |  | 3,100 |
Corporate securities |  |  | 3,000 |  |  |  | — |  |  |  | (234 | ) |  |  | — |  |  |  | 2,766 |
Total securities held-to-maturity |  | $ | 79,816 |  |  | $ | 84 |  |  | $ | (7,283 | ) |  | $ | — |  |  | $ | 72,617 |
Total investment securities |  | $ | 96,563 |  |  | $ | 161 |  |  | $ | (8,491 | ) |  | $ | — |  |  | $ | 88,233 |
The following tables summarize the amortized cost of held-to-maturity debt securities at March 31, 2025 and September 30, 2024, aggregated by credit quality indicator:
|  | Credit Rating at Amortized Cost |
|  | AAA/AA/A |  |  | BBB/BB/B |  |  | Non-rated |
March 31, 2025 |  | (In thousands) |
Securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 6,901 |  |  | $ | — |  |  | $ | — |
Mortgage-backed securities - commercial |  |  | 4,051 |  |  |  | — |  |  |  | — |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage backed securities - residential |  |  | 42,564 |  |  |  | — |  |  |  | — |
Debt securities |  |  | 14,500 |  |  |  | — |  |  |  | — |
Private label mortgage-backed securities - residential |  |  | 183 |  |  |  | — |  |  |  | — |
Obligations of state and political subdivisions |  |  | 3,439 |  |  |  | — |  |  |  | — |
Corporate securities |  |  | 3,000 |  |  |  | — |  |  |  | — |
Totals |  | $ | 74,638 |  |  | $ | — |  |  | $ | — |
|  | Credit Rating at Amortized Cost |
|  | AAA/AA/A |  |  | BBB/BB/B |  |  | Non-rated |
|  | (In thousands) |
September 30, 2024 |  |  |  |  |  |
Securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government agencies: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential |  | $ | 7,209 |  |  | $ | — |  |  | $ | — |
Mortgage-backed securities - commercial |  |  | 4,268 |  |  |  | — |  |  |  | — |
Obligations of U.S. government-sponsored enterprises: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage backed securities - residential |  |  | 42,701 |  |  |  | — |  |  |  | — |
Debt securities |  |  | 19,000 |  |  |  | — |  |  |  | — |
Private label mortgage-backed securities - residential |  |  | 190 |  |  |  | — |  |  |  | — |
Obligations of state and political subdivisions |  |  | 3,448 |  |  |  | — |  |  |  | — |
Corporate securities |  |  | 3,000 |  |  |  | — |  |  |  | — |
Total held to maturity debt securities |  | $ | 79,816 |  |  | $ | — |  |  | $ | — |
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 available-for-sale at March 31, 2025 are summarized in the following table:
|  | March 31, 2025 |
|  | Amortized |  |  | Fair |
|  | Cost |  |  | Value |
Securities available-for-sale |  | (In thousands) |
Debt securities: |  |  |  |  |  |
Due within 1 year |  | $ | — |  |  | $ | — |
Due after 1 but within 5 years |  |  | — |  |  |  | — |
Due after 5 but within 10 years |  |  | 4,000 |  |  |  | 4,099 |
Due after 10 years |  |  | — |  |  |  | — |
Total debt securities |  |  | 4,000 |  |  |  | 4,099 |
Mortgage-backed securities: |  |  |  |  |  |  |  |
Residential |  |  | 16,449 |  |  |  | 15,246 |
Commercial |  |  | — |  |  |  | — |
Total mortgage-backed securities |  |  | 16,449 |  |  |  | 15,246 |
Total securities available-for-sale |  | $ | 20,449 |  |  | $ | 19,345 |
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 held-to-maturity at March 31, 2025 are summarized in the following table:
|  | March 31, 2025 |
|  | Amortized |  |  | Fair |
|  | Cost |  |  | Value |
Securities held-to-maturity |  | (In thousands) |
Debt securities: |  |  |  |  |  |  |  |
Due within 1 year |  | $ | 5,000 |  |  | $ | 4,955 |
Due after 1 but within 5 years |  |  | 14,477 |  |  |  | 13,547 |
Due after 5 but within 10 years |  |  | 1,462 |  |  |  | 1,194 |
Due after 10 years |  |  | — |  |  |  | — |
Total debt securities |  |  | 20,939 |  |  |  | 19,696 |
Mortgage backed securities: |  |  |  |  |  |  |  |
Residential |  |  | 49,648 |  |  |  | 43,370 |
Commercial |  |  | 4,051 |  |  |  | 4,055 |
Total mortgage-backed securities |  |  | 53,699 |  |  |  | 47,425 |
Total securities held-to-maturity |  | $ | 74,638 |  |  | $ | 67,121 |

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