Derivatives and Hedging Activities (Tables)

3 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Financial Instruments as well as their Classification on Consolidated Balance Sheet

The table below presents the fair value of the Company’s derivative financial instruments as of December 31, 2023 and September 30, 2023 (in thousands).

Fair Values of Derivative Instruments
Asset Derivatives
	As of December 31, 2023				As of September 30, 2023
Hedged Item	Notional Amount		Fair Value		Notional Amount		Fair Value
FHLB Advances	$	165,000	$	6,696	$	230,000	$	10,086
Commercial Loans		85,569		6,705		86,265		9,576
Total	$	250,569	$	13,401	$	316,265	$	19,662
Fair Values of Derivative Instruments
Liability Derivatives
	As of December 31, 2023				As of September 30, 2023
Hedged Item	Notional Amount		Fair Value		Notional Amount		Fair Value
FHLB Advances	$	115,000	$	1,702	$	-	$	-
Commercial Loans	$	116,612	$	6,711	$	117,516	$	9,579
Total	$	231,612	$	8,413	$	117,516	$	9,579

Schedule of Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss)

The table below presents the effect of the Company’s cash flow hedge accounting on Accumulated Other Comprehensive Income (Loss) for the three months ended December 31, 2023 and 2022 (in thousands).

The Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss)
Derivatives in Hedging Relationships	(Gain) Loss Recognized in OCI on Derivative (Effective Portion)  Three Months Ended December 31,						Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)  Three Months Ended December 31,
Derivatives in Cash Flow Hedging Relationships	2023			2022				2023		2022
Interest Rate Products	$	(5,095	)	$	(1,166	)	Interest expense	$	2,350	$	1,834
Total	$	(5,095	)	$	(1,166	)		$	2,350	$	1,834