LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Tables)

9 Months Ended

Jun. 30, 2024

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES

Schedule of components for loans receivable

	As of June 30, 2024
	Total Loans
	(unaudited)
	(In Thousands)
Real Estate Mortgages
Residential	$	101,912
Commercial		11,297
Construction		2,399
Home Equity		1,564
Other Loans:
Commercial Non-Mortgage		1,874
Automobile		2,451
Passbook		428
Consumer		2,684
Total Loans		124,609
Net Deferred Loan Costs		428
Net Discounts on Acquired Loans		(863)
Allowance for Credit Losses		(1,060)
Loans Receivable, Net	$	123,114

	Year Ended September 30,
	2023
	Originated		Acquired		Total Loans
	(In Thousands)
Real Estate Mortgages:
Residential	$	74,918	$	27,333	$	102,251
Commercial		7,647		3,843		11,490
Construction		2,265		—		2,265
Home Equity		2,552		411		2,963
Other Loans:
Commercial Non-Mortgage		1,046		455		1,501
Automobile		2,793		234		3,027
Passbook		43		224		267
Consumer		2,175		666		2,841
Total Loans		93,439		33,166		126,605
Net Deferred Loan Costs		437		—		437
Net Discounts on Acquired Loans		—		(992)		(992)
Allowance for Loan Losses		(623)		—		(623)
Loans Receivable, Net	$	93,253	$	32,174	$	125,427

Schedule of outstanding principal balance and the related carrying amount of the Company's loans acquired

	June 30, 2024		September 30, 2023
	(unaudited)
	(in thousands)
Acquired Credit Impaired Loans
Outstanding Principal Balance	$	—	$	—
Carrying Amount	$	—	$	—
Acquired Non-Credit Impaired Loans
Outstanding Principal Balance	$	29,732	$	33,166
Carrying Amount	$	28,869	$	32,174
Total Acquired Loans
Outstanding Principal Balance	$	29,732	$	33,166
Carrying Amount	$	28,869	$	32,174

Schedule of allowance for loan losses and recorded investment in loans

	Real Estate		Real Estate		Commercial		Commercial
	Residential		Commercial		Secured		Unsecured		Consumer		Total
	(In Thousands)
Allowance for Credit Losses:
Beginning Balance	$	802	$	150	$	32	$	—	$	78	$	1,062
Charge-offs		—		—		—		—		(2)		(2)
Recoveries		—		—		—		—		—		—
Transfer		(6)		2		8		—		(4)		—
Provisions		—		—		—		—		—		—
Ending Balance	$	796	$	152	$	40	$	—	$	72	$	1,060
Ending Balance: Individually
Evaluated	$	—	$	—	$	—	$	—	$	—	$	—
Ending Balance: Collectively
Evaluated	$	796	$	152	$	40	$	—	$	72	$	1,060
Loans Receivable:
Ending Balance	$	105,875	$	11,297	$	1,862	$	12	$	5,563	$	124,609
Ending Balance: Individually
Evaluated	$	—	$	711	$	—	$	—	$	—	$	711
Ending Balance: Collectively
Evaluated	$	105,875	$	10,586	$	1,862	$	12	$	5,563	$	123,898

	Real Estate		Real Estate		Commercial		Commercial
	Residential		Commercial		Secured		Unsecured		Consumer		Total
					(In Thousands)		(Unaudited)
Allowance for Credit Losses:
Beginning Balance	$	541	$	55	$	4	$	2	$	21	$	623
Charge-offs		(63)		—		—		—		(10)		(73)
Recoveries		1		—		—		—		5		6
Transfer		(3)		(8)		9		—		2		—
Provisions		68		—		—		—		—		68
Adoption of new accounting standard		252		105		27		(2)		54		436
Ending Balance	$	796	$	152	$	40	$	—	$	72	$	1,060
Ending Balance: Individually
Evaluated	$	—	$	—	$	—	$	—	$	—	$	—
Ending Balance: Collectively
Evaluated	$	796	$	152	$	40	$	—	$	72	$	1,060

	Real Estate		Real Estate		Commercial		Commercial
	Residential		Commercial		Secured		Unsecured		Consumer		Total
	(In Thousands)
Allowance for Credit Losses:
Beginning Balance	$	598	$	55	$	4	$	1	$	17	$	675
Charge-offs		(106)		—		—		(1)		(3)		(110)
Recoveries		1		—		—		—		2		3
Transfer		(6)		—		—		1		5		—
Provisions		30		—		—		—		—		30
Ending Balance	$	517	$	55	$	4	$	1	$	21	$	598
Ending Balance: Individually
Evaluated	$	—	$	—	$	—	$	—	$	—	$	—
Ending Balance: Collectively
Evaluated	$	517	$	55	$	4	$	1	$	21	$	598

	Real Estate		Real Estate		Commercial		Commercial
	Residential		Commercial		Secured		Unsecured		Consumer		Total
	(In Thousands)
Allowance for Credit Losses:
Beginning Balance	$	548	$	55	$	4	$	1	$	13	$	621
Charge-offs		(106)		—		—		(1)		(12)		(119)
Recoveries		1		—		—		—		3		4
Transfer		(18)		—		—		1		17		—
Provisions		92		—		—		—		—		92
Ending Balance	$	517	$	55	$	4	$	1	$	21	$	598
Ending Balance: Individually
Evaluated	$	—	$	—	$	—	$	—	$	—	$	—
Ending Balance: Collectively
Evaluated	$	517	$	55	$	4	$	1	$	21	$	598

	Real Estate		Real Estate		Commercial		Commercial
	Residential		Commercial		Secured		Unsecured		Consumer		Total
	(In Thousands)
Loans Receivable:
Ending Balance	$	107,479	$	11,490	$	1,501	$	—	$	6,135	$	126,605
Less: Acquired Loans		27,744		3,843		455		—		1,124		33,166
Ending Balance: Individually
Evaluated	$	—	$	298	$	—	$	—	$	—	$	298
Ending Balance: Collectively
Evaluated	$	79,735	$	7,349	$	1,046	$	—	$	5,011	$	93,141

Schedule of Performing and nonperforming real estate loans

	As of June 30,		As of September 30,
	2024		2023
	(unaudited)
	(In Thousands)
Performing	$	116,643	$	118,269
Nonperforming		529		700
Total	$	117,172	$	118,969

Schedule of credit risk profile for originated loans held in portfolio by internally assigned grade

	Pass		Special Mention		Substandard		Doubtful		Total
	(unaudited)
	(In Thousands)
Mortgage Loans on Real Estate
Residential, One to Four Family	$	104,311	$	—	$	—	$	—	$	104,311
Home Equity		1,564		—		—		—		1,564
Commercial		10,432		154		711		—		11,297
Total Mortgage Loans on Real Estate		116,307		154		711		—		117,172
Commercial		1,855		19		—		—		1,874
Consumer		5,563		—		—		—		5,563
Total Loans	$	123,725	$	173	$	711	$	—	$	124,609

	Pass		Special Mention		Substandard		Doubtful		Total
	(In Thousands)
Mortgage Loans on Real Estate
Residential, One to Four Family	$	77,183	$	—	$	—	$	—	$	77,183
Home Equity		2,552		—		—		—		2,552
Commercial		7,349		—		298		—		7,647
Total Mortgage Loans on Real Estate		87,084		—		298		—		87,382
Commercial		1,046		—		—		—		1,046
Consumer		5,011		—		—		—		5,011
Total Loans	$	93,141	$	—	$	298	$	—	$	93,439

	Pass		Special Mention		Substandard		Doubtful		Total
	(In Thousands)
Mortgage Loans on Real Estate
Residential, One to Four Family	$	27,333	$	—	$	—	$	—	$	27,333
Home Equity		411		—		—		—		411
Commercial		3,231		210		402		—		3,843
Total Mortgage Loans on Real Estate		30,975		210		402		—		31,587
Commercial		423		32		—		—		455
Consumer		1,124		—		—		—		1,124
Total Loans	$	32,522	$	242	$	402	$	—	$	33,166

	Term Loans by Fiscal Year of Origination
(in thousands)	2024		2023		2022		2021		2020		Prior		Revolving		Total
Real Estate - Residential
Pass	$	5,544	$	11,476	$	15,327	$	17,522	$	9,294	$	45,148	$	1,564	$	105,875
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Total Real Estate - Residential	$	5,544	$	11,476	$	15,327	$	17,522	$	9,294	$	45,148	$	1,564	$	105,875
Current period gross write-offs	$	63	$	—	$	—	$	—	$	—	$	—	$	—	$	63
Real Estate - Commercial
Pass	$	814	$	2,089	$	723	$	2,315	$	1,894	$	2,597	$	—	$	10,432
Special Mention		—		—		—		—		—		154		—		154
Substandard		—		450		—		194		67		—		—		711
Doubtful		—		—		—		—		—		—		—		—
Total Real Estate - Commercial	$	814	$	2,539	$	723	$	2,509	$	1,961	$	2,751	$	—	$	11,297
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial - Secured
Pass	$	597	$	410	$	64	$	184	$	318	$	270	$	—	$	1,843
Special Mention		—		—		—		—		—		19		—		19
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Total Commercial - Secured	$	597	$	410	$	64	$	184	$	318	$	289	$	—	$	1,862
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial - Unsecured
Pass	$	1	$	—	$	—	$	—	$	—	$	11	$	—	$	12
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Total Commercial - Unsecured	$	1	$	—	$	—	$	—	$	—	$	11	$	—	$	12
Current period gross write-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Consumer
Pass	$	1,468	$	1,956	$	1,014	$	581	$	276	$	268	$	—	$	5,563
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Total Consumer	$	1,468	$	1,956	$	1,014	$	581	$	276	$	268	$	—	$	5,563
Current period gross write-offs	$	10	$	—	$	—	$	—	$	—	$	—	$	—	$	10

Schedule of aging analysis of past due financing receivables by class of financing receivable

					90 Days or						Total		90 Days or
	30 – 59 Days		60 – 89 Days		Greater		Total				Financing		Greater and
	Past Due		Past Due		Past Due		Past Due		Current		Receivable		Still accruing
	(In Thousands)
Residential Mortgage	$	1,113	$	366	$	253	$	1,732	$	104,143	$	105,875	$	—
Commercial Mortgage		29		67		—		96		11,201		11,297		—
Commercial		—		16		—		16		1,858		1,874		—
Consumer		59		1		9		69		5,494		5,563		—
Total Loans	$	1,201	$	450	$	262	$	1,913	$	122,696	$	124,609	$	—

													90 Days or
					Greater						Total		Greater
	30 – 59 Days		60 – 89 Days		90 Days or		Total				Financing		and Still
	Past Due		Past Due		Past Due		Past Due		Current		Receivable		accruing
	(In Thousands)
Residential Mortgage	$	810	$	5	$	138	$	953	$	78,782	$	79,735	$	—
Commercial Mortgage		—		—		66		66		7,581		7,647		—
Commercial		—		—		—		—		1,046		1,046		—
Consumer		84		11		—		95		4,916		5,011		—
Total Originated Loans	$	894	$	16	$	204	$	1,114	$	92,325	$	93,439	$	—

													90 Days or
					Greater						Total		Greater
	30 – 59 Days		60 – 89 Days		90 Days or		Total				Financing		and Still
	Past Due		Past Due		Past Due		Past Due		Current		Receivable		accruing
	(In Thousands)
Residential Mortgage	$	33	$	—	$	62	$	95	$	27,649	$	27,744	$	—
Commercial Mortgage		—		—		—		—		3,843		3,843		—
Commercial		—		—		—		—		455		455		—
Consumer		—		—		—		—		1,124		1,124		—
Total Acquired Loans	$	33	$	—	$	62	$	95	$	33,071	$	33,166	$	—

Schedule of the Company's nonaccrual loans by major categories

	CECL						Incurred Loss
	June 30, 2024						September 30, 2023
	Nonaccrual loans		Nonaccrual loans		Total Nonaccrual
(in thousands)	with No Allowance		with an Allowance		Loans		Nonaccrual Loans
Real Estate - Residential	$	—	$	492	$	492	$	153
Real Estate - Commercial		—		—		—		468
Commercial - Secured		—		—		—		—
Commercial - Unsecured		—		—		—		—
Consumer		—		9		9		9
Total Loans	$	—	$	501	$	501	$	630

Schedule of accrued interest receivable written off by reversing interest income

	For the Nine Months
	Ended June 30, 2024
	(in thousands)
Real Estate - Residential	$	20
Real Estate - Commercial		—
Commercial - Secured		—
Commercial - Unsecured		—
Consumer		1
Total Loans	$	21