Derivatives and Hedging Activities (Tables)

3 Months Ended

Dec. 31, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of effects of derivative instruments on the Consolidated Financial Statements

The tables below present the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition as of December 31, 2020 and September 30, 2020:

`	December 31, 2020
	Asset derivatives					Liability derivatives
	Notional Amount		Fair Value		Statement of Financial Condition Location	Notional Amount		Fair Value		Statement of Financial Condition Location
	(In thousands)
Derivatives designated as a hedging instrument:
Interest rate swap agreement	$	-	$	-	Other assets	$	90,000	$	1,017	Other liabilities
Derivatives not designated as a hedging instrument:
Interest rate swap agreement	$	45,060	$	7,488	Other assets	$	45,060	$	7,492	Other liabilities

	September 30, 2020
	Asset derivatives					Liability derivatives
	Notional Amount		Fair Value		Statement of Financial Condition Location	Notional Amount		Fair Value		Statement of Financial Condition Location
	(In thousands)
Derivatives designated as a hedging instrument:
Interest rate swap agreement	$	-	$	-	Other assets	$	90,000	$	1,291	Other liabilities
Derivatives not designated as a hedging instrument:
Interest rate swap agreement	$	45,162	$	8,752	Other assets	$	45,162	$	8,756	Other liabilities

Schedule of offsetting of derivative assets and liabilities

The tables below present the derivative assets and liabilities offsetting as of December 31, 2020 and September 30, 2020:

Offsetting of Derivative Assets	(In thousands)
as of December 31, 2020
							Gross Amounts Not Offset in the Statements of Financial Condition
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Assets presented in the Statement of Financial Condition		Financial Instruments		Cash Collateral Received		Net Amount
Derivatives	$	7,488	$	-	$	7,488	$	-	$	-	$	7,488
Offsetting of Derivative Liabilities	(In thousands)
as of December 31, 2020
							Gross Amounts Not Offset in the Statements of Financial Condition
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Liabilities presented in the Statement of Financial Condition		Financial Instruments		Cash Collateral Posted		Net Amount
Derivatives	$	8,509	$	-	$	8,509	$	1,230	$	12,857	$	(5,578	)
Offsetting of Derivative Assets	(In thousands)
as of September 30, 2020
							Gross Amounts Not Offset in the Statements of Financial Condition
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Assets presented in the Statement of Financial Condition		Financial Instruments		Cash Collateral Received		Net Amount
Derivatives	$	8,752	$	-	$	8,752	$	-	$	-	$	8,752
Offsetting of Derivative Liabilities	(In thousands)
as of September 30, 2020
							Gross Amounts Not Offset in the Statements of Financial Condition
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Liabilities presented in the Statement of Financial Condition		Financial Instruments		Cash Collateral Posted		Net Amount
Derivatives	$	10,047	$	-	$	10,047	$	1,498	$	12,857	$	(4,308	)

Schedule of net gains (losses) recorded in accumulated other comprehensive income and the Consolidate Statements of Operations

The tables below present the net gains (losses) recorded in accumulated other comprehensive loss and the Consolidated Statements of Operations relating to the cash flow derivative instruments for the three months ended December 31, 2020 and 2019:

	Three Months Ended December 31, 2020
	Amount of Loss Recognized in OCI on Derivative			Amount of Loss Reclassified from OCI to Interest Expense
	(In thousands)
Interest rate swap agreements	$	(8	)	$	(280	)
Total derivatives		(8	)		(280	)

	Three Months Ended December 31, 2019
	Amount of Gain Recognized in OCI on Derivative		Amount of Loss Reclassified from OCI to Interest Expense
	(In thousands)
Interest rate swap agreements	$	77	$	(14	)
Total derivatives		77		(14	)

Schedule of effects of derivative instruments on Consolidated Statements of Operations

The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations for the three months ended December 31, 2020 and 2019:

	Three Months Ended December 31, 2020
	Consolidated Statements of Operations	Amount of Gain (Loss) Recognized in Income on derivatives
	(In thousands)
Derivatives not designated as a hedging instrument:
Interest rate swap agreement	Other income	$	1
Total		$	1
	Three Months Ended December 31, 2019
	Consolidated Statements of Operations	Amount of Loss Recognized in Income on derivatives
	(In thousands)
Derivatives not designated as a hedging instrument:
Interest rate swap agreement	Other income	$	(3	)
Total		$	(3	)