INVESTMENT SECURITIES (Tables)

12 Months Ended

Sep. 30, 2024

INVESTMENT SECURITIES

Schedule of amortized cost of securities available for sale and held to maturity

			Gross		Gross			Allowance
	Amortized		Unrealized		Unrealized			for Credit	Fair
(In thousands)	Cost		Gain		Losses			Losses	Value
September 30, 2024:
Debt securities available for sale:
U.S. Treasury notes	$	30,031	$	—	$	2,620	$	—	$	27,411
Agency mortgage-backed		28,425		8		2,157		—		26,276
Agency CMO		15,700		—		774		—		14,926
Privately-issued CMO		295		2		16		21		260
Privately-issued ABS		301		12		—		—		313
SBA certificates		11,993		—		67		—		11,926
Municipal bonds		174,132		1,048		9,493		—		165,687
Other		2,000		—		120		—		1,880
Total debt securities available for sale	$	262,877	$	1,070	$	15,247	$	21	$	248,679
Debt securities held to maturity:
Agency mortgage-backed	$	29	$	—	$	—	$	—	$	29
Municipal bonds		1,011		12		—		—		1,023
Total debt securities held to maturity	$	1,040	$	12	$	—	$	—	$	1,052

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gain		Losses		Value
September 30, 2023:
Debt securities available for sale:
U.S. Treasury notes	$	30,598	$	—	$	4,649	$	25,949
Agency mortgage-backed		28,542		—		4,274		24,268
Agency CMO		14,064		—		1,322		12,742
Privately-issued CMO		424		2		30		396
Privately-issued ABS		433		13		3		443
SBA certificates		11,587		—		842		10,745
Municipal bonds		177,561		19		26,096		151,484
Other		2,000		—		288		1,712
Total debt securities available for sale	$	265,209	$	34	$	37,504	$	227,739
Debt securities held to maturity:
Agency mortgage-backed	$	36	$	—	$	1	$	35
Municipal bonds		1,264		4		—		1,268
Total debt securities held to maturity	$	1,300	$	4	$	1	$	1,303

Schedule of amortized cost and fair value of investment securities by contractual maturity

	Available for Sale				Held to Maturity
	Amortized		Fair		Amortized		Fair
(In thousands)	Cost		Value		Cost		Value
Due within one year	$	2,851	$	2,848	$	—	$	—
Due after one year through five years		8,349		8,287		175		175
Due after five years through ten years		43,771		40,850		836		848
Due after ten years		151,192		142,993		—		—
Agency CMO		15,700		14,926		—		—
Privately-issued CMO		295		260		—		—
Privately-issued ABS		301		313		—		—
SBA certificates		11,993		11,926		—		—
Agency mortgage-backed		28,425		26,276		29		29
Total securities available for sale	$	262,877	$	248,679	$	1,040	$	1,052

Schedule of investment securities with gross unrealized losses

	Number of			Gross
	Investment	Fair		Unrealized
(Dollars in thousands)	Positions	Value		Losses
September 30, 2024:
Debt securities available for sale:
Continuous loss position less than twelve months:
Agency CMO	1	$	2,641	$	15
SBA certificates	1		998		2
Municipal bonds	3		2,285		10
Total less than twelve months	5		5,924		27
Continuous loss position more than twelve months:
U.S. Treasury notes	6		27,411		2,620
Agency mortgage-backed	20		23,941		2,157
Agency CMO	15		12,285		759
Privately-issued CMO	3		241		16
Privately-issued ABS	1		117		—
SBA certificates	3		10,928		65
Municipal bonds	100		98,794		9,483
Other	1		1,880		120
Total more than twelve months	149		175,597		15,220
Total debt securities available for sale	154	$	181,521	$	15,247

	Number of			Gross
	Investment	Fair		Unrealized
(Dollars in thousands)	Positions	Value		Losses
September 30, 2023:
Debt securities available for sale:
Continuous loss position less than twelve months:
U.S. Treasury notes	5	$	1,576	$	49
Agency mortgage-backed	2		163		8
Agency CMO	1		4,249		462
SBA certificates	1		31		3
Municipal bonds	43		45,931		3,334
Other	1		1,712		288
Total less than twelve months	53		53,662		4,144
Continuous loss position more than twelve months:
U.S. Treasury notes	1		24,373		4,600
Agency mortgage-backed	15		23,859		4,266
Agency CMO	14		8,493		860
Privately-issued CMO	2		375		30
Privately-issued ABS	1		212		3
SBA certificates	2		10,714		839
Municipal bonds	115		95,185		22,762
Total more than twelve months	150		163,211		33,360
Total debt securities available for sale	203	$	216,873	$	37,504
Debt securities held to maturity:
Continuous loss position more than twelve months:
Agency mortgage-backed	1	$	19	$	1
Total more than twelve months	1		19		1
Total debt securities held to maturity	1	$	19	$	1

Summary of reported gross gains and losses on sales of available for sale securities

(In thousands)	2024		2023		2022
Gross realized gains on sales	$	—	$	341	$	488
Gross realized losses on sales		—		(892)		(12)
Net realized gain (loss) on sales of available for sale securities	$	—	$	(551)	$	476

Schedule of available for sale debt securities allowance for credit loss

The following tables provide information about the activity for available for sale debt securities for which an allowance for credit losses was recorded, by major security type for the year ended September 30, 2024.

	Allowance for Credit Losses
	Private		Other
(In thousands)	Label CMO		Investments		Total
Allowance for credit losses
Beginning of year	$	—	$	—	$	—
Provision for credit loss expense		24		84		108
Reductions due to increases in
expected cash flows		(3)		(84)		(87)
Recoveries		—		—		—
Balance, end of year	$	21	$	—	$	21