Investment Securities (Tables)

12 Months Ended

Sep. 30, 2021

Investments Debt And Equity Securities [Abstract]

Schedule of Investment securities

The following tables present information related to the Company’s investment securities at September 30, 2021, and 2020.

	September 30, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Investment Securities Available-for-Sale:
U.S. government agencies	$	5,000	$	—	$	(7	)	$	4,993
State and municipal obligations		2,767		1		(3	)		2,765
Single issuer trust preferred security		1,000		—		(125	)		875
Corporate debt securities		31,989		243		(52	)		32,180
Total	$	40,756	$	244	$	(187	)	$	40,813
Investment Securities Held-to-Maturity:
U.S. government agencies	$	10,000	$	11	$	—		$	10,011
State and municipal obligations		6,062		104		(49	)		6,117
Corporate debt securities		3,383		224		—			3,607
Mortgage-backed securities:
Collateralized mortgage obligations, fixed-rate		9,062		129		(13	)		9,178
Total	$	28,507	$	468	$	(62	)	$	28,913
Equity Securities
Mutual funds		1,500		—		—			1,500
Total Mutual funds		1,500		—		—			1,500
								$
Total investment securities	$	70,763	$	712	$	(249	)	$	71,226

	September 30, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Investment Securities Available-for-Sale:
U.S. government agencies	$	5,025	$	15	$	—		$	5,040
State and municipal obligations		3,101		4		—			3,105
Single issuer trust preferred security		1,000		—		(75	)		925
Corporate debt securities		21,009		182		(243	)		20,948
Total	$	30,135	$	201	$	(318	)	$	30,018
Investment Securities Held-to-Maturity:
U.S. government agencies	$	—	$	—	$	—		$	—
State and municipal obligations		1,794		129		—			1,923
Corporate debt securities		3,498		260		—			3,758
Mortgage-backed securities:
Collateralized mortgage obligations, fixed-rate		9,678		249		—			9,927
Total	$	14,970	$	638	$	—		$	15,608
Equity Securities
Mutual funds		1,523		—		—			1,523
Total		1,523		—		—			1,523
Total investment securities	$	46,628	$	839	$	(318	)	$	47,149

Schedule of aggregate investments in an unrealized loss position

The following tables indicate gross unrealized losses not recognized in income and fair value, aggregated by investment category and the length of time individual securities have been in a continuous unrealized loss position at September 30, 2021, and 2020.

	September 30, 2021
	Less than 12 Months					More than 12 Months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(In thousands)
Investment Securities Available-for-Sale:
U.S. government agencies	$	4,993	$	(7	)	$	—	$	—		$	4,993	$	(7	)
State and municipal obligations		1,819		(3	)		—		—			1,819		(3	)
Single issuer trust preferred security		—		—			875		(125	)		875		(125	)
Corporate debt securities		8,475		(25	)		2,973		(27	)		11,448		(52	)
Total	$	15,287	$	(35	)	$	3,848	$	(152	)	$	19,135	$	(187	)

Note 6 - Investment Securities (Continued)

	September 30, 2020
	Less than 12 Months					More than 12 Months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(In thousands)
Investment Securities Available-for-Sale:
Single issuer trust preferred security	$	—	$	—		$	925	$	(75	)	$	925	$	(75	)
Corporate debt securities		4,426		(74	)		3,330		(169	)		7,756		(243	)
Total investment securities	$	4,426	$	(74	)	$	4,255	$	(244	)	$	8,681	$	(318	)

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

The following table presents information for investment securities at September 30, 2021, based on scheduled maturities. Actual maturities can be expected to differ from scheduled maturities due to prepayment or early call options of the issuer.

	September 30, 2021
	Amortized Cost		Fair Value
	(In thousands)
Investment Securities Available-for-Sale:
Due in one year or less	$	—	$	—
Due after one year through five years		4,445		4,434
Due after five years through ten years		27,989		28,069
Due after ten years		8,322		8,310
Total	$	40,756	$	40,813
Investment Securities Held-to-Maturity:
Due in one year or less	$	—	$	—
Due after one year through five years		4,474		4,764
Due after five years through ten years		5,666		5,712
Due after ten years		9,304		9,259
Mortgage-backed securities:
Collateralized mortgage obligations, fixed-rate		9,063		9,178
Total	$	28,507	$	28,913
Equity Securities
Mutual funds
Due in one year or less	$	500	$	500
Due after five years through ten years		1,000		1,000
Total		1,500		1,500
Total investment securities	$	70,763	$	71,226