Fair Value Accounting (Tables)
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3 Months Ended |
Dec. 31, 2016 |
|---|
| Fair Value Disclosures [Abstract] |
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| Assets Measured on a Recurring Basis |
The following tables present the financial instruments measured at fair value on a recurring basis as of December 31, 2016 and September 30, 2016: | | | | | | | | | | | | | | | | | | Fair Value | | Quoted Prices in Active Markets for Identical Instruments (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | December 31, 2016 | | | | | | | | Investment securities: | | | | | | | | U.S. government agency obligations | $ | 15,079 |
| | $ | — |
| | $ | 15,079 |
| | $ | — |
| Obligations of states and political subdivisions | 32,147 |
| | — |
| | 32,147 |
| | — |
| Mortgage-backed securities | 33,416 |
| | — |
| | 33,416 |
| | — |
| Federal Agricultural Mortgage Corporation | 116 |
| | — |
| | 116 |
| | — |
| Trust preferred securities | 378 |
| | — |
| | — |
| | 378 |
| Total | $ | 81,136 |
| | $ | — |
| | $ | 80,758 |
| | $ | 378 |
| September 30, 2016 | | | | | | | | Investment securities: | | | | | | | | U.S. government agency obligations | $ | 16,407 |
| | $ | — |
| | $ | 16,407 |
| | $ | — |
| Obligations of states and political subdivisions | 34,012 |
| | — |
| | 34,012 |
| | — |
| Mortgage-backed securities | 29,247 |
| | — |
| | 29,247 |
| | — |
| Federal Agricultural Mortgage Corporation | 81 |
| | — |
| | 81 |
| | — |
| Trust preferred securities | 376 |
| | — |
| | — |
| | 376 |
| Total | $ | 80,123 |
| | $ | — |
| | $ | 79,747 |
| | $ | 376 |
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| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation |
The following table presents additional information about the security available for sale measured at fair value on a recurring basis and for which the Company utilized significant unobservable inputs (Level 3 inputs) to determine fair value for the three months ended December 31, 2016 and year ended September 30, 2016: | | | | | | | | | | | | Fair value measurements using significant unobservable inputs (Level 3) | Securities available for sale | | Three months ended December 31, 2016 | | Year ended September 30, 2016 | Balance, beginning of period | | $ | 376 |
| | $ | — |
| Payments received | | — |
| | — |
| Total gains or losses (realized/unrealized) | | | | | Included in earnings | | 2 |
| | — |
| Included in other comprehensive income | | — |
| | — |
| Transfers in and/or out of Level 3 | | — |
| | 376 |
| Balance, end of period | | $ | 378 |
| | $ | 376 |
|
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| Assets Measured on a Nonrecurring Basis |
The following tables present the financial instruments measured at fair value on a nonrecurring basis as of December 31, 2016 and September 30, 2016: | | | | | | | | | | | | | | | | | | Fair Value | | Quoted Prices in Active Markets for Identical Instruments (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | December 31, 2016 | | | | | | | | Foreclosed and repossessed assets, net | $ | 784 |
| | $ | — |
| | $ | — |
| | $ | 784 |
| Impaired loans with allocated allowances | 2,287 |
| | — |
| | — |
| | 2,287 |
| Total | $ | 3,071 |
| | $ | — |
| | $ | — |
| | $ | 3,071 |
| September 30, 2016 | | | | | | | | Foreclosed and repossessed assets, net | $ | 776 |
| | $ | — |
| | $ | — |
| | $ | 776 |
| Impaired loans with allocated allowances | 2,412 |
| | — |
| | — |
| | 2,412 |
| Total | $ | 3,188 |
| | $ | — |
| | $ | — |
| | $ | 3,188 |
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| Fair Value, Assets Measured on Recurring and Nonrecurring Basis |
The following table represents additional quantitative information about assets measured at fair value on a recurring and nonrecurring basis and for which we have utilized Level 3 inputs to determine their fair value at December 31, 2016. | | | | | | | | | | | | Fair Value | | Valuation Techniques (1) | | Significant Unobservable Inputs (2) | | Range | December 31, 2016 | | | | | | | | Foreclosed and repossessed assets, net | $ | 784 |
| | Appraisal value | | Estimated costs to sell | | 10 - 15% | Impaired loans with allocated allowances | $ | 2,287 |
| | Appraisal value | | Estimated costs to sell | | 10 - 15% | September 30, 2016 | | | | | | | | Foreclosed and repossessed assets, net | $ | 776 |
| | Appraisal value | | Estimated costs to sell | | 10 - 15% | Impaired loans with allocated allowances | $ | 2,412 |
| | Appraisal value | | Estimated costs to sell | | 10 - 15% |
(1) Fair value is generally determined through independent third-party appraisals of the underlying collateral, which generally includes various level 3 inputs which are not observable. (2) The fair value basis of impaired loans and real estate owned may be adjusted to reflect management estimates of disposal costs including, but not limited to, real estate brokerage commissions, legal fees, and delinquent property taxes. |
| Carrying amount and estimated fair value of financial instruments |
The carrying amount and estimated fair value of the Company's financial instruments as of the dates indicated below were as follows: | | | | | | | | | | | | | | | | | | | | December 31, 2016 | | September 30, 2016 | | Valuation Method Used | Carrying Amount | | Estimated Fair Value | | Carrying Amount | | Estimated Fair Value | Financial assets: | | | | | | | | | Cash and cash equivalents | (Level 1) | $ | 20,444 |
| | $ | 20,444 |
| | $ | 10,046 |
| | $ | 10,046 |
| Interest-bearing deposits | (Level 1) | 745 |
| | 750 |
| | 745 |
| | 760 |
| Securities available for sale "AFS" | See above | 81,136 |
| | 81,136 |
| | 80,123 |
| | 80,123 |
| Securities held to maturity "HTM" | (Level II) | 6,235 |
| | 6,343 |
| | 6,669 |
| | 6,944 |
| Non-marketable equity securities, at cost | (Level II) | 5,365 |
| | 5,365 |
| | 5,034 |
| | 5,034 |
| Loans receivable, net | (Level III) | 542,987 |
| | 555,321 |
| | 568,371 |
| | 585,679 |
| Accrued interest receivable | (Level 1) | 2,073 |
| | 2,073 |
| | 2,032 |
| | 2,032 |
| Financial liabilities: | | | | | | | | | Deposits | (Level III) | $ | 535,112 |
| | $ | 539,073 |
| | $ | 557,677 |
| | $ | 561,919 |
| FHLB advances | (Level III) | 73,491 |
| | 73,305 |
| | 59,291 |
| | 59,557 |
| Other borrowings | (Level 1) | 11,000 |
| | 11,000 |
| | 11,000 |
| | 11,000 |
| Other liabilities | (Level 1) | 2,830 |
| | 2,830 |
| | 3,353 |
| | 3,353 |
| Accrued interest payable | (Level 1) | 155 |
| | 155 |
| | 122 |
| | 122 |
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