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LEASES

6 Months Ended

Mar. 31, 2026

Leases [Abstract]

LEASES

NOTE G – LEASES

On October 7, 2025, the Bank entered into a lease agreement to rent a retail office space at 976 Inman Avenue, Edison, New Jersey to increase its presence in Middlesex County. The initial term of the lease is for five years, ending on May 31, 2031, but does include the option for one additional term of five years. In accordance with ASC 842, “Leases”, a lease liability and right-of-use asset in the amount of $175 thousand was recognized within accounts payable and other liabilities and other assets, respectively, on our Consolidated Balance Sheets during the six months ended March 31, 2026. The discount rate used to determine the lease liability was 3.93% and derived from the Federal Home Loan Bank of New York advance rate for the same term.

The following table presents the balance sheet information related to our leases:

		March 31,				September 30,
		2026				2025
		(Dollars in thousands)

Operating lease right-of-use asset		$	1,712			$	1,754
Operating lease liabilities		$	1,857			$	1,913
Weighted average remaining lease term in years			5.1				5.4
Weighted average discount rate			2.6%				2.4%

Total rental expense, included in occupancy expense, was approximately $276 thousand and $462 thousand for the six months ended March 31, 2026 and 2025, respectively.