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INVESTMENT SECURITIES

6 Months Ended

Mar. 31, 2026

Investment Securities [Abstract]

INVESTMENT SECURITIES

NOTE H - INVESTMENT SECURITIES

The following table summarizes the amortized cost and fair values of securities classified as available-for-sale and held-to-maturity at March 31, 2026:

		March 31, 2026
						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		$	6,031			$	4			$	(8	)		$	—			$	6,027
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed securities-residential			19,189				56				(1,007	)			—				18,238
Corporate securities			6,500				291				—				—				6,791
Total securities available-for-sale		$	31,720			$	351			$	(1,015	)		$	—			$	31,056
Securities held-to-maturity:
Obligations of U.S. government agencies:
Mortgage-backed securities - residential		$	7,715			$	—			$	(712	)		$	—			$	7,003
Mortgage-backed securities - commercial			3,649				34				(8	)			—				3,675
Obligations of U.S. government-sponsored enterprises:
Mortgage backed securities - residential			40,780				—				(4,514	)			—				36,266
Debt securities			9,459				1				(387	)			—				9,073
Private label mortgage-backed securities - residential			80				—				(1	)			—				79
Obligations of state and political subdivisions			3,422				1				(295	)			—				3,128
Corporate securities			3,000				—				(54	)			—				2,946
Total securities held-to-maturity		$	68,105			$	36			$	(5,971	)		$	—			$	62,170
Total investment securities		$	99,825			$	387			$	(6,986	)		$	—			$	93,226

The following table summarizes the amortized cost and fair values of securities classified as available-for-sale and held-to-maturity at September 30, 2025:

		September 30, 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		$	90			$	—			$	(8	)		$	—			$	82
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed securities-residential			15,325				70				(1,082	)			—				14,313
Corporate securities			6,500				287				—				—				6,787
Total securities available-for-sale		$	21,915			$	357			$	(1,090	)		$	—			$	21,182
Securities held-to-maturity:
Obligations of U.S. government agencies:
Mortgage-backed securities - residential		$	6,558			$	—			$	(629	)		$	—			$	5,929
Mortgage-backed securities - commercial			3,913				19				(17	)			—				3,915
Obligations of U.S. government-sponsored enterprises:
Mortgage backed securities - residential			40,741				4				(4,679	)			—				36,066
Debt securities			9,449				12				(455	)			—				9,006
Private label mortgage-backed securities - residential			174				—				(2	)			—				172
Obligations of state and political subdivisions			3,431				5				(278	)			—				3,158
Corporate securities			3,000				—				(86	)			—				2,914
Total securities held-to-maturity		$	67,266			$	40			$	(6,146	)		$	—			$	61,160
Total investment securities		$	89,181			$	397			$	(7,236	)		$	—			$	82,342

The Company monitors the credit quality of held-to-maturity debt securities, primarily through their credit ratings by nationally recognized statistical ratings organizations, on a quarterly basis. At March 31, 2026 and September 30, 2025, there were no non-performing held-to-maturity debt securities and no allowance for credit losses were required. The majority of the investment securities are explicitly or implicitly guaranteed by the United States government, and any estimate of expected credit losses would be insignificant to the Company. The following tables summarize the amortized cost of held-to-maturity debt securities at March 31, 2026 and September 30, 2025, aggregated by credit quality indicator:

		Credit Rating at Amortized Cost
		AAA/AA/A				BBB/BB/B				Non-rated
March 31, 2026		(In thousands)
Securities held-to-maturity:
Obligations of U.S. government agencies:
Mortgage-backed securities - residential		$	7,715			$	—			$	—
Mortgage-backed securities - commercial			3,649				—				—
Obligations of U.S. government-sponsored enterprises:
Mortgage backed securities - residential			40,780				—				—
Debt securities			9,459				—				—
Private label mortgage-backed securities - residential			80				—				—
Obligations of state and political subdivisions			3,422				—				—
Corporate securities			—				3,000				—
Totals		$	65,105			$	3,000			$	—

		Credit Rating at Amortized Cost
		AAA/AA/A				BBB/BB/B				Non-rated
		(In thousands)
September 30, 2025
Securities held-to-maturity:
Obligations of U.S. government agencies:
Mortgage-backed securities - residential		$	6,558			$	—			$	—
Mortgage-backed securities - commercial			3,913				—				—
Obligations of U.S. government-sponsored enterprises:
Mortgage backed securities - residential			40,741				—				—
Debt securities			9,449				—				—
Private label mortgage-backed securities - residential			174				—				—
Obligations of state and political subdivisions			3,431				—				—
Corporate securities			—				3,000				—
Totals		$	64,266			$	3,000			$	—

The contractual maturities of debt securities, municipal bonds and certain information regarding mortgage-backed securities available-for-sale at March 31, 2026 are summarized in the following table:

		March 31, 2026
		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			6,500				6,791
Due after 10 years			—				—
Total debt securities			6,500				6,791

Mortgage-backed securities:
Residential			25,220				24,265
Commercial			—				—
Total mortgage-backed securities			25,220				24,265
Total securities available-for-sale		$	31,720			$	31,056

The contractual maturities of debt securities, municipal bonds and certain information regarding mortgage-backed securities held-to-maturity at March 31, 2026 are summarized in the following table:

		March 31, 2026
		Amortized				Fair
		Cost				Value
Securities held-to-maturity		(In thousands)
Debt securities:
Due within 1 year		$	1,500			$	1,486
Due after 1 but within 5 years			13,271				12,698
Due after 5 but within 10 years			1,110				963
Due after 10 years			—				—
Total debt securities			15,881				15,147

Mortgage backed securities:
Residential			48,575				43,348
Commercial			3,649				3,675
Total mortgage-backed securities			52,224				47,023
Total securities held-to-maturity		$	68,105			$	62,170

As of March 31, 2026 and September 30, 2025, investment securities having a carrying amount of approximately $10.2 million and $10.9 million, respectively, were pledged to secure public deposits.