Magyar Bancorp (MGYR) 10-Q 11 Feb 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2021	Feb. 01, 2022
Cover [Abstract]
Document Type	10-Q
Entity Central Index Key	0001337068
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-51726
Entity Registrant Name	Magyar Bancorp, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-4154978
Entity Address, Address Line One	400 Somerset Street
Entity Address, City or Town	New Brunswick
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08901
City Area Code	732
Local Phone Number	342-7600
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, $.01 per share
Trading Symbol	MGYR
Name of Exchange on which Security is Registered	NASDAQ
Entity Common Stock, Shares Outstanding		7,097,825

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Assets
Cash	$ 2,141	$ 1,808
Interest earning deposits with banks	80,130	73,393
Total cash and cash equivalents	82,271	75,201
Investment securities - available for sale, at fair value	12,181	12,927
Investment securities - held to maturity, at amortized cost (fair value of $65,671 and $57,282 at December 31, 2021 and September 30, 2021, respectively)	66,467	57,660
Federal Home Loan Bank of New York stock, at cost	1,661	1,738
Loans receivable, net of allowance for loan losses of $8,228 and $8,075 at December 31, 2021 and September 30, 2021, respectively	574,266	585,301
Bank owned life insurance	17,375	14,288
Accrued interest receivable	3,584	3,533
Premises and equipment, net	14,199	14,331
Other real estate owned ("OREO")	649	636
Other assets	8,001	8,375
Total assets	780,654	773,990
Liabilities
Deposits	647,675	639,814
Escrowed funds	3,277	3,242
Borrowings	21,356	23,356
Accrued interest payable	81	85
Accounts payable and other liabilities	9,822	9,852
Total liabilities	682,211	676,349
Stockholders' equity
Preferred stock: $.01 Par Value, 500,000 shares authorized; at December 31, 2021 and September 30, 2021, none issued
Common stock: $.01 Par Value, 14,000,000 shares authorized; 7,097,825 shares issued; 7,097,825 shares outstanding at December 31, 2021 and September 30, 2021, at cost	71	71
Additional paid-in capital	63,681	63,713
Treasury stock: 112,996 shares, at cost	(1,242)	(1,242)
Unearned Employee Stock Ownership Plan shares	(3,240)	(3,235)
Retained earnings	40,160	39,281
Accumulated other comprehensive loss	(987)	(947)
Total stockholders' equity	98,443	97,641
Total liabilities and stockholders' equity	$ 780,654	$ 773,990

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Statement of Financial Position [Abstract]
Fair value of investment securities - held to maturity	$ 65,671	$ 57,282
Allowance for loan losses	$ 8,228	$ 8,075
Preferred stock; par value	$ 0.01	$ 0.01
Preferred stock; shares authorized	500,000	500,000
Preferred stock; shares issued	0	0
Common stock; par value	$ 1	$ 1
Common stock; shares authorized	14,000,000	14,000,000
Common stock; shares issued	7,097,825	7,097,825
Common stock, shares outstanding	7,097,825	7,097,825
Treasury stock, shares	112,996	112,996

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Interest and dividend income
Loans, including fees	$ 6,721	$ 6,751
Investment securities
Taxable	261	225
Tax-exempt	7
Federal Home Loan Bank of New York stock	20	25
Total interest and dividend income	7,009	7,001
Interest expense
Deposits	451	765
Borrowings	119	191
Total interest expense	570	956
Net interest and dividend income	6,439	6,045
Provision for loan losses	101	640
Net interest and dividend income after provision for loan losses	6,338	5,405
Other income
Service charges	257	293
Income on bank owned life insurance	87	78
Fees for other customer services		464
Interest rate swap fees		102
Other operating income	25	25
Gains on sales of loans	281	263
Total other income	650	1,225
Other expenses
Compensation and employee benefits	2,702	2,547
Occupancy expenses	739	725
Professional fees	387	528
Data processing expenses	134	132
Marketing and business development	125	44
OREO expenses	34	180
FDIC deposit insurance premiums	57	130
Loan servicing expenses	46	84
Other expenses	397	354
Total other expenses	4,621	4,724
Income before income tax expense	2,367	1,906
Income tax expense	674	569
Net income	$ 1,693	$ 1,337
Net income per share-basic and diluted	$ 0.25	$ 0.19
Weighted average basic and diluted shares outstanding	6,792,477	7,096,664

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 1,693	$ 1,337
Other comprehensive income
Unrealized loss on securities available for sale	(53)	(51)
Other comprehensive loss, before tax	(53)	(51)
Deferred income tax effect	13	15
Total other comprehensive loss	(40)	(36)
Total comprehensive income	$ 1,653	$ 1,301

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Unearned ESOP Shares [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Total
Balance at Sep. 30, 2020	$ 59	$ 26,294	$ (1,242)	$ (65)	$ 33,161	$ (1,357)	$ 56,850
Balance, shares at Sep. 30, 2020	5,810,746
Net income					1,337		1,337
Other comprehensive income						(36)	(36)
ESOP shares allocated		(15)		65			50
Balance at Dec. 31, 2020	$ 59	26,279	(1,242)		34,498	(1,393)	58,201
Balance, shares at Dec. 31, 2020	5,810,746
Balance at Sep. 30, 2021	$ 71	63,713	(1,242)	(3,235)	39,281	(947)	$ 97,641
Balance, shares at Sep. 30, 2021	7,097,825						7,097,825
Dividends paid on common stock					(814)		$ (814)
Net income					1,693		1,693
Other comprehensive income						(40)	(40)
Common stock acquired by ESOP				(98)			(98)
ESOP shares allocated		(32)		93			61
Balance at Dec. 31, 2021	$ 71	$ 63,681	$ (1,242)	$ (3,240)	$ 40,160	$ (987)	$ 98,443
Balance, shares at Dec. 31, 2021	7,097,825						7,097,825

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical)	3 Months Ended
	Dec. 31, 2021$ / shares
Statement of Stockholders' Equity [Abstract]
Dividends paid	$ 0.12

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net income	$ 1,693	$ 1,337
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	209	207
Premium amortization on investment securities, net	58	33
Provision for loan losses	101	640
Provision for loss on other real estate owned		150
Originations of SBA loans held for sale	(2,437)	(2,513)
Proceeds from the sales of SBA loans	2,718	2,776
Gains on sale of loans receivable	(281)	(263)
Gains on the sales of other real estate owned		(1)
ESOP compensation expense	61	50
Deferred income tax expense (benefit)	26	(134)
Increase in accrued interest receivable	(51)	(66)
Increase in surrender value of bank owned life insurance	(87)	(78)
Decrease (increase) in other assets	360	(105)
Decrease in accrued interest payable	(4)	(39)
Increase in accounts payable and other liabilities	(30)	(351)
Net cash provided by operating activities	2,336	1,643
Investing activities
Net decrease in loans receivable	10,934	3,940
Purchases of investment securities held to maturity	(10,064)	(4,652)
Purchases of investment securities available for sale		(4,060)
Principal repayments on investment securities held to maturity	1,221	2,586
Principal repayments on investment securities available for sale	671	3,755
Purchase of bank owned life insurance	(3,000)
Purchases of premises and equipment	(77)	(68)
Investment in other real estate owned	(12)	(13)
Proceeds from other real estate owned		387
Redemption of Federal Home Loan Bank stock	77
Net cash (used in) provided by investing activities	(250)	1,875
Financing activities
Net increase (decrease) in deposits	7,861	(6,266)
Purchase of common stock for ESOP	(98)
Net increase in escrowed funds	35	242
Repayments of long-term advances	(2,000)	(7,150)
Cash paid on common stock dividends	(814)
Net cash provided by (used in) financing activities	4,984	(13,174)
Net increase (decrease) in cash and cash equivalents	7,070	(9,656)
Cash and cash equivalents, beginning of year	75,201	61,726
Cash and cash equivalents, end of year	82,271	52,070
Supplemental disclosures of cash flow information
Interest	$ 575	$ 995

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	NOTE A – BASIS OF PRESENTATION The consolidated financial statements include the accounts of Magyar Bancorp, Inc. (the “Company”), its wholly owned subsidiary, Magyar Bank (the “Bank”), and the Bank’s wholly owned subsidiaries Magyar Service Corporation, Hungaria Urban Renewal, LLC, and MagBank Investment Company. All material intercompany transactions and balances have been eliminated. The Company prepares its financial statements on the accrual basis and in conformity with accounting principles generally accepted in the United States of America ("US GAAP"). The unaudited information furnished herein reflects all adjustments (consisting of normal recurring accruals) that are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. Operating results for the three months ended December 31, 2021 are not necessarily indicative of the results that may be expected for the year ending September 30, 2021. The September 30, 2020 information has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by US GAAP for complete consolidated financial statements. The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuation of other real estate owned (“OREO”), and the assessment of realizability of deferred income tax assets. The Company has evaluated events and transactions occurring subsequent to the balance sheet date of December 31, 2021 for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the date these consolidated financial statements were issued.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Dec. 31, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE B – RECENT ACCOUNTING PRONOUNCEMENTS In connection with the preparation of quarterly and annual reports in accordance with the Securities and Exchange Commission’s (“SEC”) Securities Exchange Act of 1934, SEC Staff Accounting Bulletin Topic 11.M requires the disclosure of the impact that recently issued accounting standards will have on financial statements when they are adopted in the future. In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses In October 2019, the FASB voted to defer the effective date of ASU 2016-13 for smaller reporting companies to fiscal years beginning after December 15, 2022 (October 1, 2023 for the Company), and interim periods within those fiscal years. The Company currently expects to continue to qualify as a smaller reporting company, based upon the current SEC definition, and as a result, will be able to defer implementation of the new standard for a period of time. The Company did not early adopt as of December 31, 2021, but will continue to review factors that might indicate that the full deferral time period should not be used. The Company continues to evaluate the impact the new standard will have on the accounting for credit losses, but the Company may recognize a one-time cumulative-effect adjustment to the allowance for loan losses as of the beginning of the first reporting period in which the new standard is effective, consistent with regulatory expectations set forth in interagency guidance issued at the end of 2016. The Company cannot yet determine the magnitude of any such one-time cumulative adjustment or of the overall impact of the new standard on its consolidated financial condition or results of operations. 6 Table of Contents In August 2018, the FASB issued ASU 2018-14, Compensation—Retirement Benefits—Defined Benefit Plans—General (Topic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans. In January 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, March 2020

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE C – CONTINGENCIES The Company, from time to time, is a party to routine litigation that arises in the normal course of business. In the opinion of management, the resolution of this litigation, if any, would not have a material adverse effect on the Company’s consolidated financial position or results of operations.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE D – EARNINGS PER SHARE The following table presents a calculation of basic and diluted earnings per share for the three months ended December 31, 2021 and 2020. Basic and diluted earnings per share were calculated by dividing net income by the weighted-average number of shares outstanding for the periods. As a result of the second-step conversion completed on July 14, 2021, the previously reported number of shares for the year ended December 31, 2020 were adjusted to reflect the 1.2213 exchange ratio for comparative purposes. For the Three Months Ended December 31, 2021 2020 Weighted Per Weighted Per average share average share Income shares Amount Income shares Amount (Dollars in thousands, except share and per share data) Basic and diluted EPS Net income available to weighted average common shareholders $ 1,693 6,792,477 $ 0.25 $ 1,337 7,096,664 $ 0.19 There were no outstanding stock awards or options to purchase common stock at December 31, 2021 and 2020.

STOCK-BASED COMPENSATION AND ST

STOCK-BASED COMPENSATION AND STOCK REPURCHASE PROGRAM	3 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION AND STOCK REPURCHASE PROGRAM	NOTE E – STOCK-BASED COMPENSATION AND STOCK REPURCHASE PROGRAM The Company follows FASB Accounting Standards Codification (“ASC”) Section 718, Compensation-Stock Compensation There were no grants, vested shares or forfeitures of non-vested restricted stock awards for the three months ended December 31, 2021 and 2020. There were also no stock option and stock award expenses included with compensation expense for the three months ended December 31, 2021 and 2020. The Company completed its first stock repurchase program of 130,927 shares in November 2007, and announced its second stock repurchase program of up to 5% of its publicly-held outstanding shares of common stock, or 129,924 shares, in November 2007. Through December 31, 2021, the Company had repurchased a total of 91,000 shares of its common stock at an average cost of $8.41 per share under this program. Under current federal regulations, subject to limited exceptions, the Company may not repurchase shares of our common stock during the first year following the completion of its second-step conversion offering, which was completed on July 14, 2021. The Company did not repurchase any shares of its common stock during the three months ended December 31, 2021 and 2020. The Company held 112,996 total treasury stock shares at December 31, 2021. The Company has an Employee Stock Ownership Plan ("ESOP") for the benefit of employees who meet certain eligibility requirements. The ESOP trust purchases shares of common stock in the open market using proceeds of a loan from the Company. The loan is secured by shares of the Company’s stock. The Bank makes cash contributions to the ESOP on an annual basis sufficient to enable the ESOP to make the required loan payments to the Company. As the debt is repaid, shares are released as collateral and allocated to qualified employees. Accordingly, the shares pledged as collateral are reported as unearned ESOP shares in the Consolidated Balance Sheets. The Company accounts for its ESOP in accordance with FASB ASC Topic 718, “Employer’s Accounting for Employee Stock Ownership Plans.” As shares are released from collateral, the Company reports compensation expense equal to the current market price of the shares, and the shares become outstanding for earnings per share computations. The Company’s ESOP (“2006 ESOP”) was established in 2006 as part of the Company’s initial public offering. The total cost of the 217,863 shares purchased by the 2006 ESOP trust was $2.3 million, reflecting an average cost per share of $10.58. The 2006 ESOP loan was fully repaid during the year ended September 30, 2021, and all shares were allocated to participants. In connection with the second-step conversion offering, the ESOP trustees purchased 8% of the shares sold in the offering, or 312,800 shares (“2021 ESOP”). As a result of the second-step conversion offering being oversubscribed in the first tier of subscription priorities, the ESOP trustees were unable to purchase shares of the Company’s common stock in the second-step conversion offering. The total cost of the shares purchased by the 2021 ESOP trust was $3.4 million, reflecting an average cost per share of $10.77. The 2021 ESOP loan bears a variable interest rate that adjusts annually to Prime Rate (3.25% at January 1, 2022) with principal and interest payable annually in equal installments over thirty years. The Company's contribution expense for the ESOP was $61,000 and $50,000 for the three months ended December 31, 2021 and 2020, respectively.

OTHER COMPREHENSIVE INCOME (LOS

OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Dec. 31, 2021
Other comprehensive income
OTHER COMPREHENSIVE INCOME (LOSS)	NOTE F – OTHER COMPREHENSIVE INCOME (LOSS) The components of other comprehensive loss and the related income tax effects are as follows: Three Months Ended December 31, 2021 2020 Tax Net of Tax Net of Before Tax (Benefit) Tax Before Tax (Benefit) Tax Amount Expense Amount Amount Expense Amount (In thousands) Unrealized holding loss arising during period on: Available-for-sale investments $ (53 ) $ 13 $ (40 ) $ (51 ) $ 15 $ (36 ) Other comprehensive loss, net $ (53 ) $ 13 $ (40 ) $ (51 ) $ 15 $ (36 )

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	3 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	NOTE G – FAIR VALUE DISCLOSURES The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The securities available-for-sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets or liabilities on a non-recurring basis, such as held-to-maturity securities, mortgage servicing rights, loans receivable and OREO. These non-recurring fair value adjustments involve the application of lower-of-cost-or-market accounting or write-downs of individual assets. In accordance with ASC 820, the Company groups its assets and liabilities at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. These levels are: Level 1 Valuation is based upon quoted prices for identical instruments traded in active markets. Level 2 Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or Level 3 Valuation is generated from model-based techniques that use significant assumptions not observable in the The Company based its fair values on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following is a description of valuation methodologies used for assets measured at fair value on a recurring basis. Securities available-for-sale The securities available-for-sale portfolio is carried at estimated fair value on a recurring basis, with any unrealized gains and losses, net of taxes, reported as accumulated other comprehensive income/loss in stockholders’ equity. The securities available-for-sale portfolio consists of U.S government-sponsored mortgage-backed securities and private label mortgage-backed securities. The fair values of these securities are obtained from an independent nationally recognized pricing service. An independent pricing service provides the Company with prices which are categorized as Level 2, as quoted prices in active markets for identical assets are generally not available for the securities in the Company’s portfolio. Various modeling techniques are used to determine pricing for Company’s mortgage-backed securities, including option pricing and discounted cash flow models. The inputs to these models include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data. Derivatives Magyar Bank executes interest rate swaps with commercial lending customers to facilitate their respective risk management strategies. The fair values of such derivatives are based on valuation models from a third party using current market terms (including interest rates and fees), the remaining terms of the agreements and the credit worthiness of the counter party as of the measurement date (Level 2). 9 Table of Contents The following tables provide the level of valuation assumptions used to determine the carrying value of the Company’s assets measured at fair value on a recurring basis. December 31, 2021 Total Level 1 Level 2 Level 3 (In thousands) Assets: Securities available for sale: Mortgage-backed securities $ 12,181 $ - $ 12,181 $ - Debt securities - - - - Total securities available for sale 12,181 - 12,181 - Derivative assets 164 - 164 - Total Assets $ 12,345 $ - $ 12,345 $ - Liabilities: Derivative liabilities $ 164 $ - $ 164 $ - Total Liabilities $ 164 $ - $ 164 $ - September 30, 2021 Total Level 1 Level 2 Level 3 (In thousands) Assets: Securities available for sale: Obligations of U.S. government agencies: Mortgage-backed securities - residential $ 186 $ - $ 186 $ - Obligations of U.S. government-sponsored enterprises: Mortgage-backed securities-residential 12,741 - 12,741 - Total securities available for sale $ 12,927 $ - $ 12,927 $ - Derivative assets 183 - 183 - Total assets $ 13,110 $ - $ 13,110 $ - Liabilities: Derivative liabilities $ 183 $ - $ 183 $ - Total Liabilities $ 183 $ - $ 183 $ - The following is a description of valuation methodologies used for assets measured at fair value on a non-recurring basis. Mortgage Servicing Rights, net Mortgage Servicing Rights (MSRs) are carried at the lower of cost or estimated fair value. The estimated fair value of MSRs is determined through a calculation of future cash flows, incorporating estimates of assumptions market participants would use in determining fair value including market discount rates, prepayment speeds, servicing income, servicing costs, default rates and other market driven data, including the market’s perception of future interest rate movements and, as such, are classified as Level 3. The Company had MSRs totaling $3,000 and $4,000 at December 31, 2021 and September 30, 2021, respectively. Impaired Loans Loans which meet certain criteria are evaluated individually for impairment. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. All amounts due according to the contractual terms means that both the contractual interest and principal payments of a loan will be collected as scheduled in the loan agreement. Three impairment measurement methods are used, depending upon the collateral securing the asset: 1) the present value of expected future cash flows discounted at the loan’s effective interest rate (the rate of return implicit in the loan); 2) the asset’s observable market price; or 3) the fair value of the collateral, less anticipated selling and disposition costs, if the asset is collateral dependent. The regulatory agencies require the last method for loans from which repayment is expected to be provided solely by the underlying collateral. The Company’s impaired loans are generally collateral dependent and, as such, are carried at the estimated fair value of the collateral less estimated selling costs. Fair value is estimated through current appraisals, and adjusted by management as necessary, to reflect current market conditions and, as such, are generally classified as Level 3. 10 Table of Contents Appraisals of collateral securing impaired loans are conducted by approved, qualified, and independent third-party appraisers. Such appraisals are ordered via the Company’s credit administration department, independent from the lender who originated the loan, once the loan is deemed impaired, as described in the previous paragraph. Impaired loans are generally re-evaluated with an updated appraisal within one year of the last appraisal. The Company discounts the appraised “as is” value of the collateral for estimated selling and disposition costs and compares the resulting fair value of collateral to the outstanding loan amount. If the outstanding loan amount is greater than the discounted fair value, the Company requires a reduction in the outstanding loan balance or additional collateral before considering an extension to the loan. If the borrower is unwilling or unable to reduce the loan balance or increase the collateral securing the loan, it is deemed impaired and the difference between the loan amount and the fair value of collateral, net of estimated selling and disposition costs, is charged off through a reduction of the allowance for loan loss. Other Real Estate Owned The fair value of other real estate owned is determined through current appraisals, and adjusted as necessary, by management, to reflect current market conditions and anticipated selling and disposition costs. As such, other real estate owned is generally classified as Level 3. The following tables provide the level of valuation assumptions used to determine the carrying value of the Company’s assets measured at fair value on a non-recurring basis at December 31, 2021 and September 30, 2021. December 31, 2021 Total Level 1 Level 2 Level 3 (In thousands) Impaired loans $ 10,506 $ - $ - $ 10,506 Other real estate owned 649 - - 649 Total $ 11,155 $ - $ - $ 11,155 September 30, 2021 Total Level 1 Level 2 Level 3 (In thousands) Impaired loans $ 11,134 $ - $ - $ 11,134 Other real estate owned 636 - - 636 Total $ 11,770 $ - $ - $ 11,770 The following tables present additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Company has utilized Level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements (Dollars in thousands) December 31, 2021 Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 10,506 Appraisal of collateral (1) Appraisal adjustments (2) -8.0% to -42.8% (-25.0%) Other real estate owned $ 649 Appraisal of collateral (1) Liquidation expenses (2) -31.2% to -45.5% (-39.4%) September 30, 2021 Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 11,134 Appraisal of collateral (1) Appraisal adjustments (2) -8.0% to -42.8% (-23.6%) Other real estate owned $ 636 Appraisal of collateral (1) Liquidation expenses (2) -31.2% to -45.5% (-39.4%) (1) Fair value is generally determined through independent appraisals for the underlying collateral, which generally include (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation 11 Table of Contents The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments carried at cost or amortized cost as of December 31, 2021 and September 30, 2021. For short-term financial assets such as cash and cash equivalents and accrued interest receivable, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For financial liabilities such as interest-bearing demand, NOW, and money market savings deposits, the carrying amount is a reasonable estimate of fair value due to these products being payable on demand and having no stated maturity. Carrying Fair Fair Value Measurement Placement Value Value (Level 1) (Level 2) (Level 3) (In thousands) December 31, 2021 Financial instruments - assets Investment securities held to maturity $ 66,467 $ 65,671 $ - $ 65,671 $ - Loans 574,266 579,562 - - 579,562 Financial instruments - liabilities Certificates of deposit including retirement certificates 97,002 97,937 - 97,937 - Borrowings 21,356 21,520 - 21,520 - September 30, 2021 Financial instruments - assets Investment securities held-to-maturity $ 57,660 $ 57,282 $ - $ 57,282 $ - Loans 585,301 594,674 - - 594,674 Financial instruments - liabilities Certificates of deposit 116,892 118,144 - 118,144 - Borrowings 23,356 23,753 - 23,753 -

LEASES

LEASES	3 Months Ended
	Dec. 31, 2021
Leases [Abstract]
LEASES	NOTE H – LEASES The Company accounts for its leases in accordance with ASU 2016-02, Leases (Topic 842) The Company holds operating leases for five branch locations. Our leases have remaining lease terms of up to 11 years, some of which include options to extend the leases for up to 10 additional years. Operating leases are recorded as ROU assets and lease liabilities and are included within Other assets and Accounts payable and other liabilities, respectively, on our Consolidated Balance Sheets. Operating lease ROU assets represent our right to use an underlying asset during the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at lease commencement base on the present value of the remaining lease payments using a discount rate that represents our incremental borrowing rate. The incremental borrowing rate used by the Company to value its operating leases is based on the interpolated term advance rate available from the Federal Home Loan Bank of New York, based on the remaining lease term. At December 31, 2021, the Company’s operating lease right-of-use assets and operating lease liabilities totaled $3.7 million and $4.1 million, respectively. 12 Table of Contents The following table presents the balance sheet information related to our leases: December 31, 2021 September 30, 2021 (Dollars in thousands) Operating lease right-of-use asset $ 3,743 $ 3,894 Operating lease liabilities $ 4,096 $ 4,254 Weighted average remaining lease term in years 7.5 7.7 Weighted average discount rate 2.2 % 2.2 % The following table summarizes the maturity of our remaining lease liabilities by year: December 31, 2021 (In thousands) For the Year Ending: 2022 $ 550 2023 738 2024 747 2025 523 2026 455 2027 and thereafter 1,533 Total lease payments 4,546 Less imputed interest (450 ) Present value of lease liabilities $ 4,096 Total leases expense recorded on the Consolidated Statements of Income within Occupancy expense were $207,000 and $204,000 for the three months ended December 31, 2021 and 2020, respectively.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	NOTE I – INVESTMENT SECURITIES The following table summarizes the amortized cost and fair values of securities classified as available-for-sale and held-to-maturity at December 31, 2021: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Securities available-for-sale: Obligations of U.S. government agencies: Mortgage-backed securities - residential $ 153 $ 5 $ - $ 158 Obligations of U.S. government-sponsored enterprises: Mortgage-backed securities-residential 12,255 23 (255 ) 12,023 Total securities available-for-sale $ 12,408 $ 28 $ (255 ) $ 12,181 Securities held-to-maturity: Obligations of U.S. government agencies: Mortgage-backed securities - residential $ 3,447 $ 1 $ (25 ) $ 3,423 Mortgage-backed securities - commercial 684 - - 684 Obligations of U.S. government-sponsored enterprises: Mortgage-backed-securities - residential 41,939 308 (560 ) 41,687 Debt securities 14,498 - (307 ) 14,191 Private label mortgage-backed securities - residential 238 5 - 243 Obligations of state and political subdivisions 2,661 1 (22 ) 2,640 Corporate securities 3,000 - (197 ) 2,803 Total securities held-to-maturity $ 66,467 $ 315 $ (1,111 ) $ 65,671 Total investment securities $ 78,875 $ 343 $ (1,366 ) $ 77,852 13 Table of Contents The contractual maturities of mortgage-backed securities generally exceed 10 years; however, the effective lives are expected to be shorter due to anticipated prepayments. The maturities of the debt securities, municipal bonds and certain information regarding the mortgage backed securities at December 31, 2021 are summarized in the following table: Amortized Fair Cost Value (In thousands) Securities available-for-sale: Mortgage-backed securities: Residential 12,408 12,181 Commercial - - Total 12,408 12,181 Securities held-to-maturity Due within 1 year $ - $ - Due after 1 but within 5 years 13,498 13,091 Due after 5 but within 10 years 6,146 6,035 Due after 10 years 515 508 Total debt securities 20,159 19,634 Mortgage-backed securities: Residential 45,624 45,353 Commercial 684 684 Total $ 66,467 $ 65,671 The following table summarizes the amortized cost and fair values of securities classified as available-for-sale and held-to-maturity at September 30, 2021: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Securities available-for-sale: Obligations of U.S. government agencies: Mortgage backed securities - residential $ 179 $ 7 $ - $ 186 Obligations of U.S. government-sponsored enterprises: Mortgage-backed securities-residential 12,922 27 (208 ) 12,741 Total securities available-for-sale $ 13,101 $ 34 $ (208 ) $ 12,927 Securities-held to-maturity: Obligations of U.S. government agencies: Mortgage-backed securities - residential $ 574 $ - $ (25 ) $ 549 Mortgage-backed securities - commercial 703 - - 703 Obligations of U.S. government-sponsored enterprises: Mortgage backed securities - residential 38,596 416 (389 ) 38,623 Debt securities 12,498 - (156 ) 12,342 Private label mortgage-backed securities - residential 242 6 - 248 Corporate securities 3,000 - (196 ) 2,804 Total securities held-to-maturity $ 57,660 $ 422 $ (800 ) $ 57,282 Total investment securities $ 70,761 $ 456 $ (1,008 ) $ 70,209

IMPAIRMENT OF INVESTMENT SECURI

IMPAIRMENT OF INVESTMENT SECURITIES	3 Months Ended
	Dec. 31, 2021
Schedule of Investments [Abstract]
IMPAIRMENT OF INVESTMENT SECURITIES	NOTE J – IMPAIRMENT OF INVESTMENT SECURITIES The Company recognizes credit-related other-than-temporary impairment on debt securities in earnings while noncredit-related other-than-temporary impairment on debt securities not expected to be sold are recognized in other comprehensive income. The Company reviews its investment portfolio on a quarterly basis for indications of impairment. This review includes analyzing the length of time and the extent to which the fair value has been lower than the cost, the financial condition and near-term prospects of the issuer, including any specific events which may influence the operations of the issuer and the intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in the market. The Company evaluates its intent and ability to hold debt securities based upon its investment strategy for the particular type of security and its cash flow needs, liquidity position, capital adequacy and interest rate risk position. In addition, the risk of future other-than-temporary impairment may be influenced by prolonged recession in the U.S. economy, changes in real estate values and interest deferrals. Investment securities with fair values greater than their amortized cost contain unrealized gains. Investment securities with fair values less than their amortized cost contain unrealized losses. The following tables present the gross unrealized losses and fair value at December 31, 2021 and September 30, 2021 for both available for sale and held to maturity securities by investment category and time frame for which the loss has been outstanding: Less Than 12 Months 12 Months Or Greater Total Number of Fair Unrealized Fair Unrealized Fair Unrealized Securities Value Losses Value Losses Value Losses (Dollars in thousands) December 31, 2021 Obligations of U.S. government agencies: Mortgage-backed securities - residential 3 $ 2,952 $ (3 ) $ 401 $ (22 ) $ 3,353 $ (25 ) Mortgage-backed securities - commercial 1 - - 684 - 684 - Obligations of U.S. government-sponsored enterprises Mortgage-backed securities - residential 24 42,010 (815 ) - - 42,010 (815 ) Debt securities 8 9,774 (224 ) 4,417 (83 ) 14,191 (307 ) Obligations of state and political subdivisions 4 2,022 (22 ) - - 2,022 (22 ) Corporate securities 1 - - 2,804 (197 ) 2,804 (197 ) Total 41 $ 56,758 $ (1,064 ) $ 8,306 $ (302 ) $ 65,064 $ (1,366 ) September 30, 2021 Obligations of U.S. government agencies: Mortgage-backed securities - residential 3 $ 318 $ (12 ) $ 232 $ (13 ) $ 550 $ (25 ) Mortgage-backed securities - commercial 1 - - 703 - 703 - Obligations of U.S. government-sponsored enterprises Mortgage-backed securities - residential 20 33,690 (539 ) 1,610 (58 ) 35,300 (597 ) Debt securities 7 10,859 (139 ) 1,483 (17 ) 12,342 (156 ) Obligations of state and political subdivisions 4 2,013 (34 ) - - 2,013 (34 ) Corporate securities 1 - - 2,804 (196 ) 2,804 (196 ) Total 36 $ 46,880 $ (724 ) $ 6,832 $ (284 ) $ 53,712 $ (1,008 ) The Company evaluated these securities and determined that the decline in value was primarily related to fluctuations in the interest rate environment and were not related to any company or industry specific event. At December 31, 2021 and September 30, 2021, there were 41 and 36, respectively, investment securities with unrealized losses. The Company anticipates full recovery of amortized costs with respect to these securities. The Company does not intend to sell these securities and has determined that it is not more likely than not that the Company would be required to sell these securities prior to maturity or market price recovery. Management has considered factors regarding other than temporarily impaired securities and determined that there are no securities with impairment that is other than temporary as of December 31, 2021 and September 30, 2021.

LOANS RECEIVABLE, NET AND RELAT

LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES	3 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES	NOTE K – LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES Loans receivable, net were comprised of the following: December 31, September 30, 2021 2021 (In thousands) One-to-four family residential $ 200,807 $ 203,019 Commercial real estate 278,989 280,848 Construction 24,282 20,350 Home equity lines of credit 17,667 17,930 Commercial business 58,320 68,719 Other 3,289 3,751 Total loans receivable 583,354 594,617 Net deferred loan costs (860 ) (1,241 ) Allowance for loan losses (8,228 ) (8,075 ) Total loans receivable, net $ 574,266 $ 585,301 The Bank participated in the Paycheck Protection Program (“PPP”), which was designed by the U.S. Treasury under the Coronavirus Aid, Relief and Economic Security Act of 2020 (subsequently extended by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act) to provide liquidity using the SBA’s platform to small businesses and self-employed individuals to maintain their staff and operations through the COVID-19 pandemic. This liquidity is in the form of a loan, 100% guaranteed by the SBA, that is forgivable provided the funds are used on qualifying payroll costs, and to a lesser extent, rent, utilities and interest on qualifying mortgage payments. The loans bear a fixed rate of 1.0% and loan payments are deferred through the date that the SBA remits the borrower’s loan forgiveness amount to the lender. Included in commercial business loans at December 31, 2021 were 52 PPP loans totaling $14.8 million compared with 111 PPP loans totaling $25.1 million at September 30, 2021. The Company expects most of these loans to be approved for full forgiveness by the SBA. The segments of the Bank’s loan portfolio are disaggregated to a level that allows management to monitor risk and performance. The residential mortgage loan segment is further disaggregated into two classes: amortizing term loans, which are primarily first liens, and home equity lines of credit, which are generally second liens. The commercial real estate loan segment is further disaggregated into three classes: loans secured by multifamily structures, owner-occupied commercial structures, and non-owner occupied nonresidential properties. The construction loan segment consists primarily of loans to developers or investors for the purpose of acquiring, developing and constructing residential or commercial structures and to a lesser extent one-to-four family residential construction loans made to individuals for the acquisition of and/or construction on a lot or lots on which a residential dwelling is to be built. Construction loans to developers and investors have a higher risk profile because the ultimate buyer, once development is completed, is generally not known at the time of the loan. The commercial business loan segment consists of loans made for the purpose of financing the activities of commercial customers and consists primarily of revolving lines of credit. The other loan segment consists primarily of stock-secured installment consumer loans, but also includes unsecured personal loans and overdraft lines of credit connected with customer deposit accounts. Management evaluates individual loans in all segments for possible impairment if the loan either is in nonaccrual status, or is risk rated Substandard and is 90 days or more past due. Loans are considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in evaluating impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Once the determination has been made that a loan is impaired, the recorded investment in the loan is compared to the fair value of the loan using one of three methods: (a) the present value of expected future cash flows discounted at the loan’s effective interest rate; (b) the loan’s observable market price; or (c) the fair value of the collateral securing the loan, less anticipated selling and disposition costs. The method is selected on a loan by loan basis, with management primarily utilizing the fair value of collateral method. If there is a shortfall between the fair value of the loan and the recorded investment in the loan, the Company charges the difference to the allowance for loan loss as a charge-off and carries the impaired loan on its books at fair value. It is the Company’s policy to evaluate impaired loans on an annual basis to ensure the recorded investment in a loan does not exceed its fair value. 16 Table of Contents The following tables present impaired loans by class, segregated by those for which a specific allowance was required and charged-off and those for which a specific allowance was not necessary at the dates presented: Impaired Loans with Impaired Loans with No Specific Specific Allowance Allowance Total Impaired Loans Unpaid Recorded Related Recorded Recorded Principal Investment Allowance Investment Investment Balance (In thousands) December 31, 2021 One-to-four family residential $ - $ - $ 2,217 $ 2,217 $ 2,217 Commercial real estate - - 2,202 2,202 2,202 Construction 2,835 224 1,745 4,580 4,645 Commercial business - - 1,506 1,506 1,506 Total impaired loans $ 2,835 $ 224 $ 7,670 $ 10,505 $ 10,570 September 30, 2021 One-to-four family residential $ - $ - $ 2,711 $ 2,711 $ 2,711 Commercial real estate - - 2,270 2,270 2,270 Construction 2,835 224 1,745 4,580 4,645 Commercial business - - 1,507 1,507 1,507 Total impaired loans $ 2,835 $ 224 $ 8,233 $ 11,068 $ 11,133 The average recorded investment in impaired loans was $10.8 million and $13.7 million for the three months ended December 31, 2021 and 2020, respectively. The Company’s impaired loans include delinquent non-accrual loans and performing Troubled Debt Restructurings (“TDRs”), as TDRs remain impaired loans until fully repaid. There were no TDRs during the three months ended December 31, 2021 and there was one TDR totaling $218,000 during the three months ended December 31, 2020. The following tables present the average recorded investment in impaired loans for the three and nine months ended December 31, 2021 and 2020. There was no interest income recognized on impaired loans during the periods presented. Three Months Ended December 31, 2021 (In thousands) One-to-four family residential $ 2,464 Commercial real estate 2,236 Construction 4,580 Commercial business 1,507 Average investment in impaired loans $ 10,787 Three Months Ended December 31, 2020 (In thousands) One-to-four family residential $ 2,490 Commercial real estate 4,370 Construction 4,861 Commercial business 1,959 Average investment in impaired loans $ 13,680 17 Table of Contents Management uses a ten point internal risk rating system to monitor the credit quality of the overall loan portfolio. The first six categories are considered not criticized, and are aggregated as “Pass” rated. The criticized rating categories utilized by management generally follow bank regulatory definitions. The Special Mention category includes assets that are currently protected but are potentially weak, resulting in an undue and unwarranted credit risk, but not to the point of justifying a Substandard classification. Loans in the Substandard category have well-defined weaknesses that jeopardize the liquidation of the debt, and have a distinct possibility that some loss will be sustained if the weaknesses are not corrected. Loans classified Doubtful have all the weaknesses inherent in loans classified Substandard with the added characteristic that collection or liquidation in full, on the basis of current conditions and facts, is highly improbable. All loans greater than three months past due are considered Substandard. Any portion of a loan that has been charged off is placed in the Loss category. To help ensure that risk ratings are accurate and reflect the present and future capacity of borrowers to repay a loan as agreed, the Bank has a structured loan rating process with several layers of internal and external oversight. Generally, consumer and residential mortgage loans are included in the Pass categories unless a specific action, such as severe delinquency, bankruptcy, repossession, or death occurs to raise awareness of a possible credit event. The Bank’s Commercial Loan Officers are responsible for the timely and accurate risk rating of the loans in their portfolios at origination and on an ongoing basis. The Asset Review Committee performs monthly reviews of all commercial relationships internally rated 6 (“Watch”) or worse. Confirmation of the appropriate risk grade is performed by an external loan review company that semi-annually reviews and assesses loans within the portfolio. Generally, the external consultant reviews commercial relationships greater than $500,000 and/or criticized relationships greater than $250,000. Detailed reviews, including plans for resolution, are performed on loans classified as Substandard on a monthly basis. The following tables present the classes of the loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the Bank’s internal risk rating system at the dates presented: Special Pass Mention Substandard Doubtful Total (In thousands) December 31, 2021 One-to-four family residential $ 198,911 $ 997 $ 899 $ - $ 200,807 Commercial real estate 277,647 201 1,141 - 278,989 Construction 19,702 - 4,580 - 24,282 Home equity lines of credit 19,702 - - - 17,667 Commercial business 56,971 - 1,349 - 58,320 Other 3,289 - - - 3,289 Total $ 574,187 $ 1,198 $ 7,969 $ - $ 583,354 September 30, 2021 One-to-four family residential $ 201,512 $ - $ 1,507 $ - $ 203,019 Commercial real estate 272,408 6,679 1,761 - 280,848 Construction 15,770 - 4,580 - 20,350 Home equity lines of credit 17,930 - - - 17,930 Commercial business 67,360 10 1,349 - 68,719 Other 3,751 - - - 3,751 Total $ 578,731 $ 6,689 $ 9,197 $ - $ 594,617 Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans at the dates presented: 18 Table of Contents 30-59 60-89 Days Days 90 Days + Total Non- Total Current Past Due Past Due Past Due Past Due Accrual Loans (In thousands) December 31, 2021 One-to-four family residential $ 200,679 $ - $ 98 $ 30 $ 128 $ 30 $ 200,807 Commercial real estate 278,735 - - 254 254 254 278,989 Construction 19,702 - - 4,580 4,580 4,580 24,282 Home equity lines of credit 17,667 - - - - - 17,667 Commercial business 56,971 - - 1,349 1,349 1,349 58,320 Other 3,289 - - - - - 3,289 Total $ 577,043 $ - $ 98 $ 6,213 $ 6,311 $ 6,213 $ 583,354 September 30, 2021 One-to-four family residential $ 201,868 $ - $ - $ 1,151 $ 1,151 $ 1,151 $ 203,019 Commercial real estate 279,769 - - 1,079 1,079 1,079 280,848 Construction 15,770 - - 4,580 4,580 4,580 20,350 Home equity lines of credit 17,930 - - - - - 17,930 Commercial business 67,370 - - 1,349 1,349 1,349 68,719 Other 3,751 - - - - - 3,751 Total $ 586,458 $ - $ - $ 8,159 $ 8,159 $ 8,159 $ 594,617 An allowance for loan losses (“ALL”) is maintained to absorb losses from the loan portfolio. The ALL is based on management’s continuing evaluation of the risk characteristics and credit quality of the loan portfolio, assessment of current economic conditions, diversification and size of the portfolio, adequacy of collateral, past and anticipated loss experience, and the amount of non-performing loans. The Bank’s methodology for determining the ALL is based on the requirements of ASC Section 310-10-35 for loans individually evaluated for impairment (discussed above) and ASC Subtopic 450-20 for loans collectively evaluated for impairment, as well as the Interagency Policy Statements on the Allowance for Loan and Lease Losses and other bank regulatory guidance. Loans that are collectively evaluated for impairment are analyzed with general allowances being made as appropriate. For general allowances, historical loss trends are used in the estimation of losses in the current portfolio. These historical loss amounts are modified by other qualitative and economic factors. The loans are segmented into classes based on their inherent varying degrees of risk, as described above. Management tracks the historical net charge-off activity by segment and utilizes this figure, as a percentage of the segment, as the general reserve percentage for pooled, homogenous loans that have not been deemed impaired. Typically, an average of losses incurred over a defined number of consecutive historical years is used. Non-impaired credits are segregated for the application of qualitative factors. Management has identified a number of additional qualitative factors which it uses to supplement the historical charge-off factor because these factors are likely to cause estimated credit losses associated with the existing loan pools to differ from historical loss experience. The additional factors that are evaluated quarterly and updated using information obtained from internal, regulatory, and governmental sources include: national and local economic trends and conditions; levels of and trends in delinquency rates and non-accrual loans; trends in volumes and terms of loans; effects of changes in lending policies; experience, ability, and depth of lending staff; value of underlying collateral; and concentrations of credit from a loan type, industry and/or geographic standpoint. Management reviews the loan portfolio on a quarterly basis using a defined, consistently applied process in order to make appropriate and timely adjustments to the ALL. When information confirms all or part of specific loans to be uncollectible, these amounts are promptly charged off against the ALL. Since loans individually evaluated for impairment are promptly written down to their fair value, typically there is no portion of the ALL for loans individually evaluated for impairment. 19 Table of Contents The following table summarizes the ALL by loan category and the related activity for the three months ended December 31, 2021 and 2020: One-to-Four Home Equity Family Commercial Lines of Commercial Residential Real Estate Construction Credit Business Other Unallocated Total (In thousands) Balance- September 30,  2021 $ 1,136 $ 3,744 $ 594 $ 232 $ 2,046 $ 15 $ 308 $ 8,075 Charge-offs - - - - - - - - Recoveries - 52 - - - - - 52 Provision (credit) (43 ) (90 ) 130 - 83 (14 ) 35 101 Balance- December 31,  2021 $ 1,093 $ 3,706 $ 724 $ 232 $ 2,129 $ 1 $ 343 $ 8,228 Balance- September 30,  2020 $ 1,035 $ 3,232 $ 672 $ 179 $ 1,034 $ 1 $ 247 $ 6,400 Charge-offs - - - - - - - - Recoveries - - - - 90 - - 90 Provision (credit) 120 176 (202 ) 88 592 1 (135 ) 640 Balance- December 31,  2020 $ 1,155 $ 3,408 $ 470 $ 267 $ 1,716 $ 2 $ 112 $ 7,130 The following tables summarize the ALL by loan category, segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of December 31, 2021 and September 30, 2021: One-to-Four Home Equity Family Commercial Lines of Commercial Residential Real Estate Construction Credit Business Other Unallocated Total (In thousands) Allowance for Loan  Losses: Balance - December 31, 2021 $ 1,093 $ 3,706 $ 724 $ 232 $ 2,129 $ 1 $ 343 $ 8,228 Individually evaluated for impairment - - 224 - - - - 224 Collectively evaluated for impairment 1,093 3,706 500 232 2,129 1 343 8,004 Loans receivable: Balance - December 31, 2021 $ 200,807 $ 278,989 $ 24,282 $ 17,667 $ 58,320 $ 3,289 $ - $ 583,354 Individually evaluated for impairment 2,217 2,202 4,580 - 1,506 - - 10,505 Collectively evaluated for impairment 198,590 276,787 19,702 17,667 56,814 3,289 - 572,849 One-to- Four Home Equity Family Commercial Lines of Commercial Residential Real Estate Construction Credit Business Other Unallocated Total (In thousands) Allowance for Loan Losses: Balance - September 30, 2021   $ 1,136 $ 3,744 $ 594 $ 232 $ 2,046 $ 15 $ 308 $ 8,075 Individually evaluated for impairment - - 224 - - - - 224 Collectively evaluated for impairment 1,136 3,744 370 232 2,046 15 308 7,851 Loans receivable: Balance - September 30, 2021   $ 203,019 $ 280,848 $ 20,350 $ 17,930 $ 68,719 $ 3,751 $ - $ 594,617 Individually evaluated for impairment 2,711 2,270 4,580 - 1,507 - - 11,068 Collectively evaluated for impairment 200,308 278,578 15,770 17,930 67,212 3,751 - 583,549 20 Table of Contents The allowance for loan losses is based on estimates, and actual losses will vary from current estimates. Management believes that the segmentation of the loan portfolio into homogeneous pools and the related historical loss ratios and other qualitative factors, as well as the consistency in the application of assumptions, result in an ALL that is representative of the risk found in the components of the portfolio at any given date. A Troubled Debt Restructuring (“TDR”) is a loan that has been modified whereby the Bank has agreed to make certain concessions to a borrower to meet the needs of both the borrower and the Bank to maximize the ultimate recovery of a loan. TDR occurs when a borrower is experiencing, or is expected to experience, financial difficulties and the loan is modified using a modification that would otherwise not be granted to the borrower. The types of concessions granted generally include, but are not limited to, interest rate reductions, limitations on the accrued interest charged, term extensions, and deferment of principal. A default on a TDR loan for purposes of this disclosure occurs when a borrower is 90 days past due or a foreclosure or repossession of the applicable collateral has occurred. There were no TDRs for the three months ended December 31, 2021, and there was one TDR totaling $218,000 during the three months ended December 31, 2020. Three Months Ended December 31, 2020 Number of Investment Before Investment After Loans TDR Modification TDR Modification (Dollars in thousands) One-to-four family residential 1 $ 218 $ 249 Total 1 $ 218 $ 249

DEPOSITS

DEPOSITS	3 Months Ended
	Dec. 31, 2021
Deposits [Abstract]
DEPOSITS	NOTE L – DEPOSITS A summary of deposits by type of account are summarized as follows: December 31, September 30, 2021 2021 (In thousands) Demand accounts $ 182,411 $ 181,975 Savings accounts 86,698 81,724 NOW accounts 83,736 71,325 Money market accounts 197,828 187,898 Certificates of deposit 82,503 101,888 Retirement certificates 14,499 15,004 Total deposits $ 647,675 $ 639,814

INCOME TAXES

INCOME TAXES	3 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE M – INCOME TAXES The Company records income taxes using the asset and liability method. Accordingly, deferred tax assets and liabilities: (i) are recognized for the expected future tax consequences of events that have been recognized in the financial statements or tax returns; (ii) are attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases; and (iii) are measured using enacted tax rates expected to apply in the years when those temporary differences are expected to be recovered or settled. Where applicable, deferred tax assets are reduced by a valuation allowance for any portions determined not likely to be realized. The valuation allowance is assessed by management on a quarterly basis and adjusted, by a charge or credit to income tax expense, as changes in facts and circumstances warrant. In assessing whether it is more likely than not that some portion or all of the deferred tax assets will not be realized, management considers projections of future taxable income, the projected periods in which current temporary differences will be deductible, the availability of carry forwards, feasible and permissible tax planning strategies and existing tax laws and regulations. The Company did not have a valuation allowance against its net deferred tax assets at December 31, 2021 or September 30, 2021. 21 Table of Contents A reconciliation of income tax between the amounts calculated based upon pre-tax income at the Company’s federal statutory rate and the amounts reflected in the consolidated statements of operations are as follows: For the Three Months Ended December 31, 2021 2020 (In thousands) Income tax expense at the statutory federal tax rate of 21% for the three months ended December 31, 2021 and 2020 $ 497 $ 400 State tax expense 194 182 Other (17 ) (13 ) Income tax expense $ 674 $ 569 The Company’s statutory income tax rate in the State of New Jersey was 9.0% for the three months ending December 31, 2021 and 2020. The State of New Jersey imposed a temporary surtax on corporations earning New Jersey allocated income in excess of $1 million. The surtax is set at a rate of 2.5% and is currently effective through December 31, 2023. Accordingly, the Company used an 11.5% State tax rate for the calculation of its State income tax expense the three months ended December 31, 2021 and 2020.

FINANCIAL INSTRUMENTS WITH OFF-

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK	3 Months Ended
	Dec. 31, 2021
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK [Abstract]
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK	NOTE N – FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK The Company may use derivative financial instruments, such as interest rate swaps and interest rate floors and caps, as part of its interest rate risk management. Interest rate caps and floors are agreements whereby one party agrees to pay or receive a floating rate of interest on a notional principal amount for a predetermined period of time if certain market interest rate thresholds are met. The Company considers the credit risk inherent in these contracts to be negligible. The Company is a party to interest rate derivatives that are not designated as hedging instruments. Under a program, the Company executes interest rate swaps with commercial lending customers to facilitate their respective risk management strategies. These interest rate swaps with customers are simultaneously offset by interest rate swaps that the Company executes with a third-party financial institution, such that the Company minimizes its net risk exposure resulting from such transactions. Because the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. The changes in the fair value of the swaps offset each other, except for the credit risk of the counterparties, which is determined by taking into consideration the risk rating, probability of default and loss given default for all counterparties. The Company had $300,000 in cash pledged for collateral on its interest rate swaps with financial institutions at December 31, 2021 and September 30, 2021. The following table presents summary information regarding these derivatives as of December 31, 2021 and September 30, 2021. Notional Amount Average Maturity (Years) Weighted Average Fixed Rate Weighted Average Variable Rate Fair Value (Dollars in thousands) December 31, 2021 Classified in Other Assets: Customer interest rate swaps $ 19,971 6.6 3.61% 1 Mo. LIBOR + 2.50 $ 164 Classified in Other Liabilities: 3rd Party interest rate swaps $ 19,971 6.6 3.61% 1 Mo. LIBOR + 2.50 $ 164 September 30, 2021 Classified in Other Assets: Customer interest rate swaps $ 20,111 6.9 3.61% 1 Mo. LIBOR + 2.50 $ 183 Classified in Other Liabilities: 3rd Party interest rate swaps $ 20,111 6.9 3.61% 1 Mo. LIBOR + 2.50 $ 183 22 Table of Contents The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments are commitments to extend credit are summarized in the below table. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated balance sheets. December 31, September 30, 2021 2021 (In thousands) Financial instruments whose contract amounts represent credit risk Letters of credit $ 2,808 $ 2,901 Unused lines of credit 61,901 63,798 Fixed rate loan commitments 10,039 9,156 Variable rate loan commitments 18,502 14,558 Total $ 93,250 $ 90,413

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of earnings per share	The following table presents a calculation of basic and diluted earnings per share for the three months ended December 31, 2021 and 2020. Basic and diluted earnings per share were calculated by dividing net income by the weighted-average number of shares outstanding for the periods. As a result of the second-step conversion completed on July 14, 2021, the previously reported number of shares for the year ended December 31, 2020 were adjusted to reflect the 1.2213 exchange ratio for comparative purposes. For the Three Months Ended December 31, 2021 2020 Weighted Per Weighted Per average share average share Income shares Amount Income shares Amount (Dollars in thousands, except share and per share data) Basic and diluted EPS Net income available to weighted average common shareholders $ 1,693 6,792,477 $ 0.25 $ 1,337 7,096,664 $ 0.19

OTHER COMPREHENSIVE INCOME (L_2

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Dec. 31, 2021
Other comprehensive income
Schedule of components of other comprehensive income (loss) and the related income tax effects	The components of other comprehensive loss and the related income tax effects are as follows: Three Months Ended December 31, 2021 2020 Tax Net of Tax Net of Before Tax (Benefit) Tax Before Tax (Benefit) Tax Amount Expense Amount Amount Expense Amount (In thousands) Unrealized holding loss arising during period on: Available-for-sale investments $ (53 ) $ 13 $ (40 ) $ (51 ) $ 15 $ (36 ) Other comprehensive loss, net $ (53 ) $ 13 $ (40 ) $ (51 ) $ 15 $ (36 )

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	3 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of assets measured at fair value on a recurring basis	The following tables provide the level of valuation assumptions used to determine the carrying value of the Company’s assets measured at fair value on a recurring basis. December 31, 2021 Total Level 1 Level 2 Level 3 (In thousands) Assets: Securities available for sale: Mortgage-backed securities $ 12,181 $ - $ 12,181 $ - Debt securities - - - - Total securities available for sale 12,181 - 12,181 - Derivative assets 164 - 164 - Total Assets $ 12,345 $ - $ 12,345 $ - Liabilities: Derivative liabilities $ 164 $ - $ 164 $ - Total Liabilities $ 164 $ - $ 164 $ - September 30, 2021 Total Level 1 Level 2 Level 3 (In thousands) Assets: Securities available for sale: Obligations of U.S. government agencies: Mortgage-backed securities - residential $ 186 $ - $ 186 $ - Obligations of U.S. government-sponsored enterprises: Mortgage-backed securities-residential 12,741 - 12,741 - Total securities available for sale $ 12,927 $ - $ 12,927 $ - Derivative assets 183 - 183 - Total assets $ 13,110 $ - $ 13,110 $ - Liabilities: Derivative liabilities $ 183 $ - $ 183 $ - Total Liabilities $ 183 $ - $ 183 $ -
Schedule of assets measured at fair value on a non-recurring basis	The following tables provide the level of valuation assumptions used to determine the carrying value of the Company’s assets measured at fair value on a non-recurring basis at December 31, 2021 and September 30, 2021. December 31, 2021 Total Level 1 Level 2 Level 3 (In thousands) Impaired loans $ 10,506 $ - $ - $ 10,506 Other real estate owned 649 - - 649 Total $ 11,155 $ - $ - $ 11,155 September 30, 2021 Total Level 1 Level 2 Level 3 (In thousands) Impaired loans $ 11,134 $ - $ - $ 11,134 Other real estate owned 636 - - 636 Total $ 11,770 $ - $ - $ 11,770
Schedule of quantitative information about assets measured at fair value on a nonrecurring bassis for which Level 3 inputs were used to determine fair value	The following tables present additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Company has utilized Level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements (Dollars in thousands) December 31, 2021 Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 10,506 Appraisal of collateral (1) Appraisal adjustments (2) -8.0% to -42.8% (-25.0%) Other real estate owned $ 649 Appraisal of collateral (1) Liquidation expenses (2) -31.2% to -45.5% (-39.4%) September 30, 2021 Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) Impaired loans $ 11,134 Appraisal of collateral (1) Appraisal adjustments (2) -8.0% to -42.8% (-23.6%) Other real estate owned $ 636 Appraisal of collateral (1) Liquidation expenses (2) -31.2% to -45.5% (-39.4%) (1) Fair value is generally determined through independent appraisals for the underlying collateral, which generally include (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation
Schedule of the carrying amount, fair value, and placement in the fair value hierarchy of financial instruments carried at cost or amortized cost	The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments carried at cost or amortized cost as of December 31, 2021 and September 30, 2021. For short-term financial assets such as cash and cash equivalents and accrued interest receivable, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For financial liabilities such as interest-bearing demand, NOW, and money market savings deposits, the carrying amount is a reasonable estimate of fair value due to these products being payable on demand and having no stated maturity. Carrying Fair Fair Value Measurement Placement Value Value (Level 1) (Level 2) (Level 3) (In thousands) December 31, 2021 Financial instruments - assets Investment securities held to maturity $ 66,467 $ 65,671 $ - $ 65,671 $ - Loans 574,266 579,562 - - 579,562 Financial instruments - liabilities Certificates of deposit including retirement certificates 97,002 97,937 - 97,937 - Borrowings 21,356 21,520 - 21,520 - September 30, 2021 Financial instruments - assets Investment securities held-to-maturity $ 57,660 $ 57,282 $ - $ 57,282 $ - Loans 585,301 594,674 - - 594,674 Financial instruments - liabilities Certificates of deposit 116,892 118,144 - 118,144 - Borrowings 23,356 23,753 - 23,753 -

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of Balance Sheet Information Related to Leases	The following table presents the balance sheet information related to our leases: December 31, 2021 September 30, 2021 (Dollars in thousands) Operating lease right-of-use asset $ 3,743 $ 3,894 Operating lease liabilities $ 4,096 $ 4,254 Weighted average remaining lease term in years 7.5 7.7 Weighted average discount rate 2.2 % 2.2 %
Schedule of Maturity of Remaining Lease Liabilities	The following table summarizes the maturity of our remaining lease liabilities by year: December 31, 2021 (In thousands) For the Year Ending: 2022 $ 550 2023 738 2024 747 2025 523 2026 455 2027 and thereafter 1,533 Total lease payments 4,546 Less imputed interest (450 ) Present value of lease liabilities $ 4,096

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Summary of the amortized cost and fair values of securities mortgage-backed and securities held to maturity	The following table summarizes the amortized cost and fair values of securities classified as available-for-sale and held-to-maturity at December 31, 2021: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Securities available-for-sale: Obligations of U.S. government agencies: Mortgage-backed securities - residential $ 153 $ 5 $ - $ 158 Obligations of U.S. government-sponsored enterprises: Mortgage-backed securities-residential 12,255 23 (255 ) 12,023 Total securities available-for-sale $ 12,408 $ 28 $ (255 ) $ 12,181 Securities held-to-maturity: Obligations of U.S. government agencies: Mortgage-backed securities - residential $ 3,447 $ 1 $ (25 ) $ 3,423 Mortgage-backed securities - commercial 684 - - 684 Obligations of U.S. government-sponsored enterprises: Mortgage-backed-securities - residential 41,939 308 (560 ) 41,687 Debt securities 14,498 - (307 ) 14,191 Private label mortgage-backed securities - residential 238 5 - 243 Obligations of state and political subdivisions 2,661 1 (22 ) 2,640 Corporate securities 3,000 - (197 ) 2,803 Total securities held-to-maturity $ 66,467 $ 315 $ (1,111 ) $ 65,671 Total investment securities $ 78,875 $ 343 $ (1,366 ) $ 77,852 The following table summarizes the amortized cost and fair values of securities classified as available-for-sale and held-to-maturity at September 30, 2021: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Securities available-for-sale: Obligations of U.S. government agencies: Mortgage backed securities - residential $ 179 $ 7 $ - $ 186 Obligations of U.S. government-sponsored enterprises: Mortgage-backed securities-residential 12,922 27 (208 ) 12,741 Total securities available-for-sale $ 13,101 $ 34 $ (208 ) $ 12,927 Securities-held to-maturity: Obligations of U.S. government agencies: Mortgage-backed securities - residential $ 574 $ - $ (25 ) $ 549 Mortgage-backed securities - commercial 703 - - 703 Obligations of U.S. government-sponsored enterprises: Mortgage backed securities - residential 38,596 416 (389 ) 38,623 Debt securities 12,498 - (156 ) 12,342 Private label mortgage-backed securities - residential 242 6 - 248 Corporate securities 3,000 - (196 ) 2,804 Total securities held-to-maturity $ 57,660 $ 422 $ (800 ) $ 57,282 Total investment securities $ 70,761 $ 456 $ (1,008 ) $ 70,209
Schedule amortized cost, gross unrealized gians or losses and fair values of investment securities available for sale and held to maturity	The contractual maturities of mortgage-backed securities generally exceed 10 years; however, the effective lives are expected to be shorter due to anticipated prepayments. The maturities of the debt securities, municipal bonds and certain information regarding the mortgage backed securities at December 31, 2021 are summarized in the following table: Amortized Fair Cost Value (In thousands) Securities available-for-sale: Mortgage-backed securities: Residential 12,408 12,181 Commercial - - Total 12,408 12,181 Securities held-to-maturity Due within 1 year $ - $ - Due after 1 but within 5 years 13,498 13,091 Due after 5 but within 10 years 6,146 6,035 Due after 10 years 515 508 Total debt securities 20,159 19,634 Mortgage-backed securities: Residential 45,624 45,353 Commercial 684 684 Total $ 66,467 $ 65,671

IMPAIRMENT OF INVESTMENT SECU_2

IMPAIRMENT OF INVESTMENT SECURITIES (Tables)	3 Months Ended
	Dec. 31, 2021
Schedule of Investments [Abstract]
Schedule of gross unrealized losses and fair value for both available for sale and held to maturity securities by investment category and time frame for which the loss has been outstanding	Investment securities with fair values greater than their amortized cost contain unrealized gains. Investment securities with fair values less than their amortized cost contain unrealized losses. The following tables present the gross unrealized losses and fair value at December 31, 2021 and September 30, 2021 for both available for sale and held to maturity securities by investment category and time frame for which the loss has been outstanding: Less Than 12 Months 12 Months Or Greater Total Number of Fair Unrealized Fair Unrealized Fair Unrealized Securities Value Losses Value Losses Value Losses (Dollars in thousands) December 31, 2021 Obligations of U.S. government agencies: Mortgage-backed securities - residential 3 $ 2,952 $ (3 ) $ 401 $ (22 ) $ 3,353 $ (25 ) Mortgage-backed securities - commercial 1 - - 684 - 684 - Obligations of U.S. government-sponsored enterprises Mortgage-backed securities - residential 24 42,010 (815 ) - - 42,010 (815 ) Debt securities 8 9,774 (224 ) 4,417 (83 ) 14,191 (307 ) Obligations of state and political subdivisions 4 2,022 (22 ) - - 2,022 (22 ) Corporate securities 1 - - 2,804 (197 ) 2,804 (197 ) Total 41 $ 56,758 $ (1,064 ) $ 8,306 $ (302 ) $ 65,064 $ (1,366 ) September 30, 2021 Obligations of U.S. government agencies: Mortgage-backed securities - residential 3 $ 318 $ (12 ) $ 232 $ (13 ) $ 550 $ (25 ) Mortgage-backed securities - commercial 1 - - 703 - 703 - Obligations of U.S. government-sponsored enterprises Mortgage-backed securities - residential 20 33,690 (539 ) 1,610 (58 ) 35,300 (597 ) Debt securities 7 10,859 (139 ) 1,483 (17 ) 12,342 (156 ) Obligations of state and political subdivisions 4 2,013 (34 ) - - 2,013 (34 ) Corporate securities 1 - - 2,804 (196 ) 2,804 (196 ) Total 36 $ 46,880 $ (724 ) $ 6,832 $ (284 ) $ 53,712 $ (1,008 )

LOANS RECEIVABLE, NET AND REL_2

LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES (Tables)	3 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Schedule of loans receivable, net	Loans receivable, net were comprised of the following: December 31, September 30, 2021 2021 (In thousands) One-to-four family residential $ 200,807 $ 203,019 Commercial real estate 278,989 280,848 Construction 24,282 20,350 Home equity lines of credit 17,667 17,930 Commercial business 58,320 68,719 Other 3,289 3,751 Total loans receivable 583,354 594,617 Net deferred loan costs (860 ) (1,241 ) Allowance for loan losses (8,228 ) (8,075 ) Total loans receivable, net $ 574,266 $ 585,301
Schedule of impaired loans	The following tables present impaired loans by class, segregated by those for which a specific allowance was required and charged-off and those for which a specific allowance was not necessary at the dates presented: Impaired Loans with Impaired Loans with No Specific Specific Allowance Allowance Total Impaired Loans Unpaid Recorded Related Recorded Recorded Principal Investment Allowance Investment Investment Balance (In thousands) December 31, 2021 One-to-four family residential $ - $ - $ 2,217 $ 2,217 $ 2,217 Commercial real estate - - 2,202 2,202 2,202 Construction 2,835 224 1,745 4,580 4,645 Commercial business - - 1,506 1,506 1,506 Total impaired loans $ 2,835 $ 224 $ 7,670 $ 10,505 $ 10,570 September 30, 2021 One-to-four family residential $ - $ - $ 2,711 $ 2,711 $ 2,711 Commercial real estate - - 2,270 2,270 2,270 Construction 2,835 224 1,745 4,580 4,645 Commercial business - - 1,507 1,507 1,507 Total impaired loans $ 2,835 $ 224 $ 8,233 $ 11,068 $ 11,133
Schedule of average recorded investment in impaired loans	The following tables present the average recorded investment in impaired loans for the three and nine months ended December 31, 2021 and 2020. There was no interest income recognized on impaired loans during the periods presented. Three Months Ended December 31, 2021 (In thousands) One-to-four family residential $ 2,464 Commercial real estate 2,236 Construction 4,580 Commercial business 1,507 Average investment in impaired loans $ 10,787 Three Months Ended December 31, 2020 (In thousands) One-to-four family residential $ 2,490 Commercial real estate 4,370 Construction 4,861 Commercial business 1,959 Average investment in impaired loans $ 13,680
Schedule of loan portfolio summarized by Bank's internal risk rating system	The following tables present the classes of the loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the Bank’s internal risk rating system at the dates presented: Special Pass Mention Substandard Doubtful Total (In thousands) December 31, 2021 One-to-four family residential $ 198,911 $ 997 $ 899 $ - $ 200,807 Commercial real estate 277,647 201 1,141 - 278,989 Construction 19,702 - 4,580 - 24,282 Home equity lines of credit 19,702 - - - 17,667 Commercial business 56,971 - 1,349 - 58,320 Other 3,289 - - - 3,289 Total $ 574,187 $ 1,198 $ 7,969 $ - $ 583,354 September 30, 2021 One-to-four family residential $ 201,512 $ - $ 1,507 $ - $ 203,019 Commercial real estate 272,408 6,679 1,761 - 280,848 Construction 15,770 - 4,580 - 20,350 Home equity lines of credit 17,930 - - - 17,930 Commercial business 67,360 10 1,349 - 68,719 Other 3,751 - - - 3,751 Total $ 578,731 $ 6,689 $ 9,197 $ - $ 594,617
Schedule of aging analysis of past due loans, segregated by class of loans	Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans at the dates presented: 18 Table of Contents 30-59 60-89 Days Days 90 Days + Total Non- Total Current Past Due Past Due Past Due Past Due Accrual Loans (In thousands) December 31, 2021 One-to-four family residential $ 200,679 $ - $ 98 $ 30 $ 128 $ 30 $ 200,807 Commercial real estate 278,735 - - 254 254 254 278,989 Construction 19,702 - - 4,580 4,580 4,580 24,282 Home equity lines of credit 17,667 - - - - - 17,667 Commercial business 56,971 - - 1,349 1,349 1,349 58,320 Other 3,289 - - - - - 3,289 Total $ 577,043 $ - $ 98 $ 6,213 $ 6,311 $ 6,213 $ 583,354 September 30, 2021 One-to-four family residential $ 201,868 $ - $ - $ 1,151 $ 1,151 $ 1,151 $ 203,019 Commercial real estate 279,769 - - 1,079 1,079 1,079 280,848 Construction 15,770 - - 4,580 4,580 4,580 20,350 Home equity lines of credit 17,930 - - - - - 17,930 Commercial business 67,370 - - 1,349 1,349 1,349 68,719 Other 3,751 - - - - - 3,751 Total $ 586,458 $ - $ - $ 8,159 $ 8,159 $ 8,159 $ 594,617
Schedule of activity in the allowance for loan losses by portfolio segment	The following table summarizes the ALL by loan category and the related activity for the three months ended December 31, 2021 and 2020: One-to-Four Home Equity Family Commercial Lines of Commercial Residential Real Estate Construction Credit Business Other Unallocated Total (In thousands) Balance- September 30,  2021 $ 1,136 $ 3,744 $ 594 $ 232 $ 2,046 $ 15 $ 308 $ 8,075 Charge-offs - - - - - - - - Recoveries - 52 - - - - - 52 Provision (credit) (43 ) (90 ) 130 - 83 (14 ) 35 101 Balance- December 31,  2021 $ 1,093 $ 3,706 $ 724 $ 232 $ 2,129 $ 1 $ 343 $ 8,228 Balance- September 30,  2020 $ 1,035 $ 3,232 $ 672 $ 179 $ 1,034 $ 1 $ 247 $ 6,400 Charge-offs - - - - - - - - Recoveries - - - - 90 - - 90 Provision (credit) 120 176 (202 ) 88 592 1 (135 ) 640 Balance- December 31,  2020 $ 1,155 $ 3,408 $ 470 $ 267 $ 1,716 $ 2 $ 112 $ 7,130 The following tables summarize the ALL by loan category, segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of December 31, 2021 and September 30, 2021: One-to-Four Home Equity Family Commercial Lines of Commercial Residential Real Estate Construction Credit Business Other Unallocated Total (In thousands) Allowance for Loan  Losses: Balance - December 31, 2021 $ 1,093 $ 3,706 $ 724 $ 232 $ 2,129 $ 1 $ 343 $ 8,228 Individually evaluated for impairment - - 224 - - - - 224 Collectively evaluated for impairment 1,093 3,706 500 232 2,129 1 343 8,004 Loans receivable: Balance - December 31, 2021 $ 200,807 $ 278,989 $ 24,282 $ 17,667 $ 58,320 $ 3,289 $ - $ 583,354 Individually evaluated for impairment 2,217 2,202 4,580 - 1,506 - - 10,505 Collectively evaluated for impairment 198,590 276,787 19,702 17,667 56,814 3,289 - 572,849 One-to- Four Home Equity Family Commercial Lines of Commercial Residential Real Estate Construction Credit Business Other Unallocated Total (In thousands) Allowance for Loan Losses: Balance - September 30, 2021   $ 1,136 $ 3,744 $ 594 $ 232 $ 2,046 $ 15 $ 308 $ 8,075 Individually evaluated for impairment - - 224 - - - - 224 Collectively evaluated for impairment 1,136 3,744 370 232 2,046 15 308 7,851 Loans receivable: Balance - September 30, 2021   $ 203,019 $ 280,848 $ 20,350 $ 17,930 $ 68,719 $ 3,751 $ - $ 594,617 Individually evaluated for impairment 2,711 2,270 4,580 - 1,507 - - 11,068 Collectively evaluated for impairment 200,308 278,578 15,770 17,930 67,212 3,751 - 583,549
Schedule of troubled debt restructurings	A default on a TDR loan for purposes of this disclosure occurs when a borrower is 90 days past due or a foreclosure or repossession of the applicable collateral has occurred. There were no TDRs for the three months ended December 31, 2021, and there was one TDR totaling $218,000 during the three months ended December 31, 2020. Three Months Ended December 31, 2020 Number of Investment Before Investment After Loans TDR Modification TDR Modification (Dollars in thousands) One-to-four family residential 1 $ 218 $ 249 Total 1 $ 218 $ 249

DEPOSITS (Tables)

DEPOSITS (Tables)	3 Months Ended
	Dec. 31, 2021
Deposits [Abstract]
Schedule of deposits by type of account	A summary of deposits by type of account are summarized as follows: December 31, September 30, 2021 2021 (In thousands) Demand accounts $ 182,411 $ 181,975 Savings accounts 86,698 81,724 NOW accounts 83,736 71,325 Money market accounts 197,828 187,898 Certificates of deposit 82,503 101,888 Retirement certificates 14,499 15,004 Total deposits $ 647,675 $ 639,814

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of reconciliation of income tax between the amounts calculated based upon pre-tax income at the Company's federal statutory rate and the amounts reflected in the consolidated statements of operations	A reconciliation of income tax between the amounts calculated based upon pre-tax income at the Company’s federal statutory rate and the amounts reflected in the consolidated statements of operations are as follows: For the Three Months Ended December 31, 2021 2020 (In thousands) Income tax expense at the statutory federal tax rate of 21% for the three months ended December 31, 2021 and 2020 $ 497 $ 400 State tax expense 194 182 Other (17 ) (13 ) Income tax expense $ 674 $ 569

FINANCIAL INSTRUMENTS WITH OF_2

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK (Tables)	3 Months Ended
	Dec. 31, 2021
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK [Abstract]
Schedule of Information Regarding Derivatives	The following table presents summary information regarding these derivatives as of December 31, 2021 and September 30, 2021. Notional Amount Average Maturity (Years) Weighted Average Fixed Rate Weighted Average Variable Rate Fair Value (Dollars in thousands) December 31, 2021 Classified in Other Assets: Customer interest rate swaps $ 19,971 6.6 3.61% 1 Mo. LIBOR + 2.50 $ 164 Classified in Other Liabilities: 3rd Party interest rate swaps $ 19,971 6.6 3.61% 1 Mo. LIBOR + 2.50 $ 164 September 30, 2021 Classified in Other Assets: Customer interest rate swaps $ 20,111 6.9 3.61% 1 Mo. LIBOR + 2.50 $ 183 Classified in Other Liabilities: 3rd Party interest rate swaps $ 20,111 6.9 3.61% 1 Mo. LIBOR + 2.50 $ 183
Schedule of fair value, off-balance sheet financial instruments	December 31, September 30, 2021 2021 (In thousands) Financial instruments whose contract amounts represent credit risk Letters of credit $ 2,808 $ 2,901 Unused lines of credit 61,901 63,798 Fixed rate loan commitments 10,039 9,156 Variable rate loan commitments 18,502 14,558 Total $ 93,250 $ 90,413

EARNINGS PER SHARE (Schedule of

EARNINGS PER SHARE (Schedule of Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Basic and diluted EPS
Income applicable to common shares	$ 1,693	$ 1,337
Weighted average number of common shares outstanding - basic and diluted	6,792,477	7,096,664
Basic and diluted and earnings per share	$ 0.25	$ 0.19

STOCK-BASED COMPENSATION AND _2

STOCK-BASED COMPENSATION AND STOCK REPURCHASE PROGRAM (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		170 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury stock, shares	112,996		112,996	112,996
ESOP compensation expense	$ 61	$ 50
Number of ESOP shares intended to by purchased by Trustees in connection with the second-step conversion offerring	312,800		312,800
Percentage of common shares sold	8.00%
2006 ESOP Trust [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost of shares repurchased by ESOP trust	$ 2,300
Average cost of shares repurchased (per share)	$ 10.58
Description of loan with respect to employee stock ownership plan	The Company’s ESOP (“2006 ESOP”) was established in 2006 as part of the Company’s initial public offering. The total cost of the 217,863 shares purchased by the 2006 ESOP trust was $2.3 million, reflecting an average cost per share of $10.58. The 2006 ESOP loan was fully repaid during the year ended September 30, 2021, and all shares were allocated to participants.
Shares allocated	217,863		217,863
2021 ESOP Trust [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost of shares repurchased by ESOP trust	$ 3,400
Average cost of shares repurchased (per share)	$ 10.77
Description of loan with respect to employee stock ownership plan	The total cost of the shares purchased by the 2021 ESOP trust was $3.4 million, reflecting an average cost per share of $10.77. The 2021 ESOP loan bears a variable interest rate that adjusts annually to Prime Rate (3.25% at January 1, 2022) with principal and interest payable annually in equal installments over thirty years.
Interest rate of loan with respect to employee stock ownership plan	3.25%		3.25%
First Repurchase Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock authorized to be repurchased (in shares)	130,927		130,927
Second Repurchase Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum stock repurchase authorization (as a percent)			5.00%
Stock authorized to be repurchased (in shares)	129,924		129,924
Stock repurchased during period (in shares)			91,000
Common stock average cost (in dollars per share)			$ 8.41

OTHER COMPREHENSIVE INCOME (L_3

OTHER COMPREHENSIVE INCOME (LOSS) (Schedule of Components of Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Other comprehensive income
Available-for-sale investments before tax	$ (53)	$ (51)
Tax benefit (expense)	13	15
Available-for-sale investments after tax	(40)	(36)
Other comprehensive income, net before tax	(53)	(51)
Tax benefit (expense), Total	13	15
Other comprehensive income, net after tax	$ (40)	$ (36)

FAIR VALUE DISCLOSURES (Narrati

FAIR VALUE DISCLOSURES (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Mortgage Servicing Rights	$ 3	$ 4

FAIR VALUE DISCLOSURES (Schedul

FAIR VALUE DISCLOSURES (Schedule of Assets Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Fair value measured on recurring basis:
Securities available for sale	$ 12,181	$ 12,927
Total Assets	780,654	773,990
Liabilities:
Total Liabilities	682,211	676,349
Fair Value, Measurements, Recurring [Member]
Fair value measured on recurring basis:
Securities available for sale	12,181	12,927
Derivative assets	164	183
Total Assets	12,345	13,110
Liabilities:
Derivative liabilities	164	183
Total Liabilities	164	183
Fair Value, Measurements, Recurring [Member] | Obligations of U.S. government enterprises Mortgage-backed securities [Member]
Fair value measured on recurring basis:
Securities available for sale	12,181	186
Fair Value, Measurements, Recurring [Member] | Obligations of U.S. government-sponsored enterprises Debt securities [Member]
Fair value measured on recurring basis:
Securities available for sale		12,741
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value measured on recurring basis:
Securities available for sale
Derivative assets
Total Assets
Liabilities:
Derivative liabilities
Total Liabilities
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Obligations of U.S. government enterprises Mortgage-backed securities [Member]
Fair value measured on recurring basis:
Securities available for sale
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Obligations of U.S. government-sponsored enterprises Debt securities [Member]
Fair value measured on recurring basis:
Securities available for sale
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value measured on recurring basis:
Securities available for sale	12,181	12,927
Derivative assets	164	183
Total Assets	12,345	13,110
Liabilities:
Derivative liabilities	164	183
Total Liabilities	164	183
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Obligations of U.S. government enterprises Mortgage-backed securities [Member]
Fair value measured on recurring basis:
Securities available for sale	12,181	186
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Obligations of U.S. government-sponsored enterprises Debt securities [Member]
Fair value measured on recurring basis:
Securities available for sale		12,741
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value measured on recurring basis:
Securities available for sale
Derivative assets
Total Assets
Liabilities:
Derivative liabilities
Total Liabilities
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Obligations of U.S. government enterprises Mortgage-backed securities [Member]
Fair value measured on recurring basis:
Securities available for sale
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Obligations of U.S. government-sponsored enterprises Debt securities [Member]
Fair value measured on recurring basis:
Securities available for sale

FAIR VALUE DISCLOSURES (Sched_2

FAIR VALUE DISCLOSURES (Schedule of Assets Measured at Fair Value on a Non-Recurring Basis) (Details) - Fair Value Measured on a Nonrecurring Basis [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 10,506	$ 11,134
Other real estate owned	649	636
Assets measured at fair value on a non-recurring basis	11,155	11,770
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans
Other real estate owned
Assets measured at fair value on a non-recurring basis
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans
Other real estate owned
Assets measured at fair value on a non-recurring basis
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	10,506	11,134
Other real estate owned	649	636
Assets measured at fair value on a non-recurring basis	$ 11,155	$ 11,770

FAIR VALUE DISCLOSURES (Sched_3

FAIR VALUE DISCLOSURES (Schedule of Additional Quantitative Information About Assets Measured at Fair Value) (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
		Dec. 31, 2021	Sep. 30, 2020	Sep. 30, 2021
Fair Value Measured on a Nonrecurring Basis [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value estimate		$ 11,155		$ 11,770
Impaired Loans [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Valuation techniques	[1]	Appraisal of collateral	Appraisal of collateral
Unobservable Input	[2]	Appraisal adjustments	Appraisal adjustments
Impaired Loans [Member] | Fair Value Measured on a Nonrecurring Basis [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value estimate		$ 10,506		11,134
Impaired Loans [Member] | Fair Value Measured on a Nonrecurring Basis [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value input- appraisal of collateral		(8.00%)	(8.00%)
Impaired Loans [Member] | Fair Value Measured on a Nonrecurring Basis [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value input- appraisal of collateral		(42.80%)	(42.80%)
Impaired Loans [Member] | Fair Value Measured on a Nonrecurring Basis [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value input- appraisal of collateral		(25.00%)	(23.60%)
Other Real Estate Owned [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Valuation techniques	[1]	Appraisal of collateral	Appraisal of collateral
Unobservable Input	[2]	Liquidation expenses	Liquidation expenses
Other Real Estate Owned [Member] | Fair Value Measured on a Nonrecurring Basis [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value estimate		$ 649		$ 636
Other Real Estate Owned [Member] | Fair Value Measured on a Nonrecurring Basis [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value input- appraisal of collateral		(31.20%)	(31.20%)
Other Real Estate Owned [Member] | Fair Value Measured on a Nonrecurring Basis [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value input- appraisal of collateral		(45.50%)	(45.50%)
Other Real Estate Owned [Member] | Fair Value Measured on a Nonrecurring Basis [Member] | Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value input- appraisal of collateral		(39.40%)	(39.40%)
[1]	Fair value is generally determined through independent appraisals for the underlying collateral, which generally include
[2]	Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation

FAIR VALUE DISCLOSURES (Sched_4

FAIR VALUE DISCLOSURES (Schedule of the Carrying Amount, Fair Value, and Placement in the Fair Value Hierarchy of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Financial instruments - assets
Investment securities held-to-maturity	$ 66,467	$ 57,660
Fair Value, Inputs, Level 1 [Member]
Financial instruments - assets
Investment securities held-to-maturity
Loans
Financial instruments - liabilities
Certificates of deposit
Borrowings
Fair Value, Inputs, Level 2 [Member]
Financial instruments - assets
Investment securities held-to-maturity	65,671	57,282
Loans
Financial instruments - liabilities
Certificates of deposit	97,937	118,144
Borrowings	21,520	23,753
Fair Value, Inputs, Level 3 [Member]
Financial instruments - assets
Investment securities held-to-maturity
Loans	579,562	594,674
Financial instruments - liabilities
Certificates of deposit
Borrowings
Carrying Value [Member]
Financial instruments - assets
Investment securities held-to-maturity	66,467	57,660
Loans	579,562	585,301
Financial instruments - liabilities
Certificates of deposit	97,002	116,892
Borrowings	21,356	23,356
Fair Value [Member]
Financial instruments - assets
Investment securities held-to-maturity	65,671	57,282
Loans	574,266	594,674
Financial instruments - liabilities
Certificates of deposit	97,937	118,144
Borrowings	$ 21,520	$ 23,753

LEASES (Narrative) (Details)

LEASES (Narrative) (Details) - USD ($)	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease liabilities	$ 4,100,000
Operating lease right-of-use asset and liability	3,700,000
Total lease expense	$ 207,000	$ 204,000
Lease term, minimum	10 years
Lease term, maximum	11 years

LEASES (Schedule of Balance She

LEASES (Schedule of Balance Sheet Information Related to Leases) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Leases [Abstract]
Operating lease right-of-use asset	$ 3,743	$ 3,894
Operating lease liabilities	$ 4,096	$ 4,254
Weighted average remaining lease term in years	7 years 6 months	7 years 8 months 12 days
Weighted average discount rate	2.20%	2.20%

LEASES (Schedule of Maturity of

LEASES (Schedule of Maturity of Remaining Lease Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
For the Year Ending:
2022	$ 550
2023	738
2024	747
2025	523
2026	455
2027 and thereafter	1,533
Total lease payments	4,546
Less imputed interest	(450)
Present value of lease liabilities	$ 4,096	$ 4,254

INVESTMENT SECURITIES (Schedule

INVESTMENT SECURITIES (Schedule of the Unamortized Cost, Gross Unrealized Gains or Losses and Fair Value of Investment Securities Available-For-Sale and Held-To-Maturity) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Securities available-for-sale:
Amortized Cost	$ 12,408	$ 13,101
Gross Unrealized Gains	28	34
Gross Unrealized Losses	(255)	(208)
Fair Value	12,181	12,927
Securities held-to-maturity:
Amortized Cost	66,467	57,660
Gross Unrealized Gains	315	422
Gross Unrealized Losses	(1,111)	(800)
Fair Value	65,671	57,282
Investment Securities [Member]
Securities held-to-maturity:
Amortized Cost	78,875	70,761
Gross Unrealized Gains	343	456
Gross Unrealized Losses	(1,366)	(1,008)
Fair Value	77,852	70,209
Obligations of U.S. government agencies Mortgage backed securities - residential [Member]
Securities available-for-sale:
Amortized Cost	153	179
Gross Unrealized Gains	5	7
Gross Unrealized Losses
Fair Value	158	186
Securities held-to-maturity:
Amortized Cost	3,447	574
Gross Unrealized Gains	1
Gross Unrealized Losses	(25)	(25)
Fair Value	3,423	549
Obligations of U.S. government agencies Mortgage backed securities -commercial [Member]
Securities held-to-maturity:
Amortized Cost	684	703
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	684	703
Obligations of U.S. government-sponsored enterprises Mortgage-backed securities-residential [Member]
Securities available-for-sale:
Amortized Cost	12,255	12,922
Gross Unrealized Gains	23	27
Gross Unrealized Losses	(255)	(208)
Fair Value	12,023	12,741
Securities held-to-maturity:
Amortized Cost	41,939	38,596
Gross Unrealized Gains	308	416
Gross Unrealized Losses	(560)	(389)
Fair Value	41,687	38,623
Obligations of U.S. government-sponsored enterprises Debt securities [Member]
Securities held-to-maturity:
Amortized Cost	14,498	12,498
Gross Unrealized Gains
Gross Unrealized Losses	(307)	(156)
Fair Value	14,191	12,342
Private label mortgage-backed securities-residential [Member]
Securities held-to-maturity:
Amortized Cost	238	242
Gross Unrealized Gains	5	6
Gross Unrealized Losses
Fair Value	243	248
Obligations of state and political subdivisions [Member]
Securities held-to-maturity:
Amortized Cost	2,661
Gross Unrealized Gains	1
Gross Unrealized Losses	(22)
Fair Value	2,640
Corporate securities [Member]
Securities held-to-maturity:
Amortized Cost	3,000	3,000
Gross Unrealized Gains
Gross Unrealized Losses	(197)	(196)
Fair Value	$ 2,803	$ 2,804

INVESTMENT SECURITIES (Summary

INVESTMENT SECURITIES (Summary of Amortized Cost and Fair Values of Securities Held to Maturity) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Available for Sale Securities, Amortized Cost
Mortgage-backed securities, Residential	$ 12,408
Mortgage-backed securities, Commercial
Amortized Cost	12,408	$ 13,101
Available for Sale Securities, Fair Value
Mortgage Backed Securities, Residential	12,181
Mortgage Backed Securities, Commercial
Fair Value	12,181	12,927
Held to Maturity Securities, Amortized Cost
Due within 1 year
Due after 1 but within 5 years	13,498
Due after 5 but within 10 years	6,146
Due after 10 years	515
Total debt securities	20,159
Mortgage Backed Securities, Residential	45,624
Mortgage Backed Securities, Commercial	684
Amortized cost	66,467	57,660
Held to Maturity Securities, Fair Value
Due within 1 year
Due after 1 but within 5 years	13,091
Due after 5 but within 10 years	6,035
Due after 10 years	508
Total debt securities	19,634
Mortgage Backed Securities, Residential	45,353
Mortgage Backed Securities, Commercial	684
Fair value	$ 65,671	$ 57,282

IMPAIRMENT OF INVESTMENT SECU_3

IMPAIRMENT OF INVESTMENT SECURITIES (Schedule of Gross Unrealized Losses and Fair Value for Both Available For Sale and Held To Maturity Securities) (Details) $ in Thousands	Dec. 31, 2021USD ($)	Sep. 30, 2021USD ($)
Schedule of Held-to-maturity Securities [Line Items]
Number of Securities	41	36
Less Than 12 Months, Fair Value	$ 56,758	$ 46,880
Less Than 12 Months, Unrealized Losses	(1,064)	(724)
12 Months Or Greater, Fair Value	8,306	6,832
12 Months Or Greater, Unrealized Losses	(302)	(284)
Total, Fair Value	65,064	53,712
Total, Unrealized Losses	$ (1,366)	$ (1,008)
Obligations of U.S. government agencies Mortgage backed securities - residential [Member]
Schedule of Held-to-maturity Securities [Line Items]
Number of Securities	3	3
Less Than 12 Months, Fair Value	$ 2,952	$ 318
Less Than 12 Months, Unrealized Losses	(3)	(12)
12 Months Or Greater, Fair Value	401	232
12 Months Or Greater, Unrealized Losses	(22)	(13)
Total, Fair Value	3,353	550
Total, Unrealized Losses	$ (25)	$ (25)
Obligations of U.S. government agencies Mortgage backed securities -commercial [Member]
Schedule of Held-to-maturity Securities [Line Items]
Number of Securities	1	1
Less Than 12 Months, Fair Value
Less Than 12 Months, Unrealized Losses
12 Months Or Greater, Fair Value	684	703
12 Months Or Greater, Unrealized Losses
Total, Fair Value	684	703
Total, Unrealized Losses
Obligations of U.S. government-sponsored enterprises Mortgage-backed securities-residential [Member]
Schedule of Held-to-maturity Securities [Line Items]
Number of Securities	24	20
Less Than 12 Months, Fair Value	$ 42,010	$ 33,690
Less Than 12 Months, Unrealized Losses	(815)	(539)
12 Months Or Greater, Fair Value		1,610
12 Months Or Greater, Unrealized Losses		(58)
Total, Fair Value	42,010	35,300
Total, Unrealized Losses	$ (815)	$ (597)
Obligations of U.S. government-sponsored enterprises Debt securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Number of Securities	8	7
Less Than 12 Months, Fair Value	$ 9,774	$ 10,859
Less Than 12 Months, Unrealized Losses	(224)	(139)
12 Months Or Greater, Fair Value	4,417	1,483
12 Months Or Greater, Unrealized Losses	(83)	(17)
Total, Fair Value	14,191	12,342
Total, Unrealized Losses	$ (307)	$ (156)
Obligations of state and political subdivisions [Member]
Schedule of Held-to-maturity Securities [Line Items]
Number of Securities	4
Less Than 12 Months, Fair Value	$ 2,022
Less Than 12 Months, Unrealized Losses	(22)
12 Months Or Greater, Fair Value
12 Months Or Greater, Unrealized Losses
Total, Fair Value	2,022
Total, Unrealized Losses	$ (22)
Corporate securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Number of Securities	1	1
Less Than 12 Months, Fair Value
Less Than 12 Months, Unrealized Losses
12 Months Or Greater, Fair Value	2,804	2,804
12 Months Or Greater, Unrealized Losses	(197)	(196)
Total, Fair Value	2,804	2,804
Total, Unrealized Losses	$ (197)	$ (196)
Private label mortgage-backed securities residential [Member]
Schedule of Held-to-maturity Securities [Line Items]
Number of Securities		4
Less Than 12 Months, Fair Value		$ 2,013
Less Than 12 Months, Unrealized Losses		(34)
12 Months Or Greater, Fair Value
12 Months Or Greater, Unrealized Losses
Total, Fair Value		2,013
Total, Unrealized Losses		$ (34)

LOANS RECEIVABLE, NET AND REL_3

LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES (Narrative) (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2021USD ($)Loans	Dec. 31, 2020USD ($)	Sep. 30, 2021USD ($)Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average Recorded Investment	$ 10,787	$ 13,680
Troubled debt restructurings pre-modification amount		$ 218
Number of loans | Loans	1
Paycheck Protection Program Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate of loan	1.00%
Paycheck Protection Program Loan [Member] | SBA [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Guarantee percentage	100.00%
Number of loans | Loans	52		111
Loan received	$ 14,800		$ 25,100

LOANS RECEIVABLE, NET AND REL_4

LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES (Schedule of Loans Receivable, Net) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	$ 583,354	$ 594,617
Net deferred loan costs	(860)	(1,241)
Allowance for loan losses	(8,228)	(8,075)
Total loans receivable, net	574,266	585,301
One-to four-family residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	200,807	203,019
Allowance for loan losses	(1,093)	(1,136)
Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	278,989	280,848
Allowance for loan losses	(3,706)	(3,744)
Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	24,282	20,350
Allowance for loan losses	(724)	(594)
Home equity lines of credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	17,667	17,930
Allowance for loan losses	(232)	(232)
Commercial business [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	58,320	68,719
Allowance for loan losses	(2,129)	(2,046)
Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans receivable	3,289	3,751
Allowance for loan losses	$ (1)	$ (15)

LOANS RECEIVABLE, NET AND REL_5

LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES (Schedule of Impaired Loans by Class) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Financing Receivable, Impaired [Line Items]
Recorded Investment Impaired Loans with Specific Allowance	$ 2,835	$ 2,835
Related Allowance Impaired Loans with Specific Allowance	224	224
Recorded Investment Impaired Loans with No Specific Allowance	7,670	8,233
Total Impaired Loans Recorded Investment	10,505	11,068
Total Impaired Loans Unpaid Principal Balance	10,570	11,133
One-to four-family residential [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment Impaired Loans with Specific Allowance
Related Allowance Impaired Loans with Specific Allowance
Recorded Investment Impaired Loans with No Specific Allowance	2,217	2,711
Total Impaired Loans Recorded Investment	2,217	2,711
Total Impaired Loans Unpaid Principal Balance	2,217	2,711
Commercial real estate [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment Impaired Loans with Specific Allowance
Related Allowance Impaired Loans with Specific Allowance
Recorded Investment Impaired Loans with No Specific Allowance	2,202	2,270
Total Impaired Loans Recorded Investment	2,202	2,270
Total Impaired Loans Unpaid Principal Balance	2,202	2,270
Construction [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment Impaired Loans with Specific Allowance	2,835	2,835
Related Allowance Impaired Loans with Specific Allowance	224	224
Recorded Investment Impaired Loans with No Specific Allowance	1,745	1,745
Total Impaired Loans Recorded Investment	4,580	4,580
Total Impaired Loans Unpaid Principal Balance	4,645	4,645
Commercial business [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment Impaired Loans with Specific Allowance
Related Allowance Impaired Loans with Specific Allowance
Recorded Investment Impaired Loans with No Specific Allowance	1,506	1,507
Total Impaired Loans Recorded Investment	1,506	1,507
Total Impaired Loans Unpaid Principal Balance	$ 1,506	$ 1,507

LOANS RECEIVABLE, NET AND REL_6

LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES (Schedule of Average Recorded Investment in Impaired Loans) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Impaired [Line Items]
Average investment in impaired loans	$ 10,787	$ 13,680
One-to four-family residential [Member]
Financing Receivable, Impaired [Line Items]
Average investment in impaired loans	2,464	2,490
Commercial real estate [Member]
Financing Receivable, Impaired [Line Items]
Average investment in impaired loans	2,236	4,370
Construction [Member]
Financing Receivable, Impaired [Line Items]
Average investment in impaired loans	4,580	4,861
Commercial business [Member]
Financing Receivable, Impaired [Line Items]
Average investment in impaired loans	$ 1,507	$ 1,959

LOANS RECEIVABLE, NET AND REL_7

LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES (Schedule of Classes of the Loan Portfolio Summarized by Bank's Internal Risk Rating System) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	$ 583,354	$ 594,617
Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	574,187	578,731
Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	1,198	6,689
Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	7,969	9,197
Doubtful [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross
One-to four-family residential [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	200,807	203,019
One-to four-family residential [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	198,911	201,512
One-to four-family residential [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	997
One-to four-family residential [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	899	1,507
One-to four-family residential [Member] | Doubtful [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross
Commercial real estate [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	278,989	280,848
Commercial real estate [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	277,647	272,408
Commercial real estate [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	201	6,679
Commercial real estate [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	1,141	1,761
Commercial real estate [Member] | Doubtful [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross
Construction [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	24,282	20,350
Construction [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	19,702	15,770
Construction [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross
Construction [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	4,580	4,580
Construction [Member] | Doubtful [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross
Home equity lines of credit [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	17,667	17,930
Home equity lines of credit [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	19,702	17,930
Home equity lines of credit [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross
Home equity lines of credit [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross
Home equity lines of credit [Member] | Doubtful [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross
Commercial business [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	58,320	68,719
Commercial business [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	56,971	67,360
Commercial business [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross		10
Commercial business [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	1,349	1,349
Commercial business [Member] | Doubtful [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross
Other [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	3,289	3,751
Other [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	3,289	3,751
Other [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross
Other [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross
Other [Member] | Doubtful [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross

LOANS RECEIVABLE, NET AND REL_8

LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES (Schedule of Classes of the Loan Portfolio Summarized by Aging Categories) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Financing Receivable, Past Due [Line Items]
Current	$ 577,043	$ 586,458
Total Past Due	6,311	8,159
Non - Accrual	6,213	8,159
Total loans receivable	583,354	594,617
30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
Non - Accrual
60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	98
Non - Accrual
90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	6,213
Non - Accrual
One-to four-family residential [Member]
Financing Receivable, Past Due [Line Items]
Current	200,679	201,868
Total Past Due	128	1,151
Non - Accrual	30	1,151
Total loans receivable	200,807	203,019
One-to four-family residential [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
Non - Accrual
One-to four-family residential [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	98
Non - Accrual
One-to four-family residential [Member] | 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	30
Non - Accrual		8,159
Commercial real estate [Member]
Financing Receivable, Past Due [Line Items]
Current	278,735	279,769
Total Past Due	254	1,079
Non - Accrual	254	1,079
Total loans receivable	278,989	280,848
Commercial real estate [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
Non - Accrual
Commercial real estate [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
Non - Accrual
Commercial real estate [Member] | 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	254
Non - Accrual		1,151
Construction [Member]
Financing Receivable, Past Due [Line Items]
Current	19,702	15,770
Total Past Due	4,580	4,580
Non - Accrual	4,580	4,580
Total loans receivable	24,282	20,350
Construction [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
Non - Accrual
Construction [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
Non - Accrual
Construction [Member] | 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	4,580
Non - Accrual		1,079
Home equity lines of credit [Member]
Financing Receivable, Past Due [Line Items]
Current	17,667	17,930
Total Past Due
Non - Accrual
Total loans receivable	17,667	17,930
Home equity lines of credit [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
Non - Accrual
Home equity lines of credit [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
Non - Accrual
Home equity lines of credit [Member] | 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
Non - Accrual		4,580
Commercial business [Member]
Financing Receivable, Past Due [Line Items]
Current	56,971	67,370
Total Past Due	1,349	1,349
Non - Accrual	1,349	1,349
Total loans receivable	58,320	68,719
Commercial business [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
Non - Accrual
Commercial business [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
Non - Accrual
Commercial business [Member] | 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,349
Non - Accrual
Other [Member]
Financing Receivable, Past Due [Line Items]
Current	3,289	3,751
Total Past Due
Non - Accrual
Total loans receivable	3,289	3,751
Other [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
Non - Accrual
Other [Member] | 60-89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
Non - Accrual
Other [Member] | 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due
Non - Accrual		$ 1,349

LOANS RECEIVABLE, NET AND REL_9

LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES (Schedule of Activity in the Allowance for Loan Losses by Loan Category) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Activity in the allowance for loan losses by loan category:
Balance at beginning of period	$ 8,075	$ 6,400
Charge-offs
Recoveries	52	90
Provision (credit)	101	640
Balance at the end of period	8,228	7,130
One-to four-family residential [Member]
Activity in the allowance for loan losses by loan category:
Balance at beginning of period	1,136	1,035
Charge-offs
Recoveries
Provision (credit)	(43)	120
Balance at the end of period	1,093	1,155
Commercial real estate [Member]
Activity in the allowance for loan losses by loan category:
Balance at beginning of period	3,744	3,232
Charge-offs
Recoveries	52
Provision (credit)	(90)	176
Balance at the end of period	3,706	3,408
Construction [Member]
Activity in the allowance for loan losses by loan category:
Balance at beginning of period	594	672
Charge-offs
Recoveries
Provision (credit)	130	(202)
Balance at the end of period	724	470
Home equity lines of credit [Member]
Activity in the allowance for loan losses by loan category:
Balance at beginning of period	232	179
Charge-offs
Recoveries
Provision (credit)		88
Balance at the end of period	232	267
Commercial business [Member]
Activity in the allowance for loan losses by loan category:
Balance at beginning of period	2,046	1,034
Charge-offs
Recoveries		90
Provision (credit)	83	592
Balance at the end of period	2,129	1,716
Other [Member]
Activity in the allowance for loan losses by loan category:
Balance at beginning of period	15	1
Charge-offs
Recoveries
Provision (credit)	(14)	1
Balance at the end of period	1	2
Unallocated [Member]
Activity in the allowance for loan losses by loan category:
Balance at beginning of period	308	247
Charge-offs
Recoveries
Provision (credit)	35	(135)
Balance at the end of period	$ 343	$ 112

LOANS RECEIVABLE, NET AND RE_10

LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES (Schedule of ALL by Loan Category) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Allowance for Loan Losses:
Balance - Allowance for loans losses	$ 8,228	$ 8,075
Individually evaluated for impairment	224	224
Collectively evaluated for impairment	8,004	7,851
Balance - Loans receivable	583,354	594,617
Loan balance individually evaluated for impairment	10,505	11,068
Loan balance collectively evaluated for impairment	572,849	583,549
One-to four-family residential [Member]
Allowance for Loan Losses:
Balance - Allowance for loans losses	1,093	1,136
Individually evaluated for impairment
Collectively evaluated for impairment	1,093	1,136
Balance - Loans receivable	200,807	203,019
Loan balance individually evaluated for impairment	2,217	2,711
Loan balance collectively evaluated for impairment	198,590	200,308
Commercial real estate [Member]
Allowance for Loan Losses:
Balance - Allowance for loans losses	3,706	3,744
Individually evaluated for impairment
Collectively evaluated for impairment	3,706	3,744
Balance - Loans receivable	278,989	280,848
Loan balance individually evaluated for impairment	2,202	2,270
Loan balance collectively evaluated for impairment	276,787	278,578
Construction [Member]
Allowance for Loan Losses:
Balance - Allowance for loans losses	724	594
Individually evaluated for impairment	224	224
Collectively evaluated for impairment	500	370
Balance - Loans receivable	24,282	20,350
Loan balance individually evaluated for impairment	4,580	4,580
Loan balance collectively evaluated for impairment	19,702	15,770
Home equity lines of credit [Member]
Allowance for Loan Losses:
Balance - Allowance for loans losses	232	232
Individually evaluated for impairment
Collectively evaluated for impairment	232	232
Balance - Loans receivable	17,667	17,930
Loan balance individually evaluated for impairment
Loan balance collectively evaluated for impairment	17,667	17,930
Commercial business [Member]
Allowance for Loan Losses:
Balance - Allowance for loans losses	2,129	2,046
Individually evaluated for impairment
Collectively evaluated for impairment	2,129	2,046
Balance - Loans receivable	58,320	68,719
Loan balance individually evaluated for impairment	1,506	1,507
Loan balance collectively evaluated for impairment	56,814	67,212
Other [Member]
Allowance for Loan Losses:
Balance - Allowance for loans losses	1	15
Individually evaluated for impairment
Collectively evaluated for impairment	1	15
Balance - Loans receivable	3,289	3,751
Loan balance individually evaluated for impairment
Loan balance collectively evaluated for impairment	3,289	3,751
Unallocated [Member]
Allowance for Loan Losses:
Balance - Allowance for loans losses	343	308
Individually evaluated for impairment
Collectively evaluated for impairment	343	308
Balance - Loans receivable
Loan balance individually evaluated for impairment
Loan balance collectively evaluated for impairment

LOANS RECEIVABLE, NET AND RE_11

LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES (Schedule of Troubled Debt Restructuring) (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2021USD ($)Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | Loans	1
Investment Before TDR Modification	$ 218
Investment After TDR Modification	$ 249
One-to four-family residential [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | Loans	1
Investment Before TDR Modification	$ 218
Investment After TDR Modification	$ 249

DEPOSITS (Schedule of Deposits

DEPOSITS (Schedule of Deposits by Type of Account) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Deposits [Abstract]
Demand accounts	$ 182,411	$ 181,975
Savings accounts	86,698	81,724
NOW accounts	83,736	71,325
Money market accounts	197,828	187,898
Certificates of deposit	82,503	101,888
Retirement certificates	14,499	15,004
Total deposits	$ 647,675	$ 639,814

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		39 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2023
Income Tax Contingency [Line Items]
State tax rate	11.50%	11.50%
Surtax rate	9.00%	9.00%
Allocated income in excess in income taxes	$ 1
Subsequent Event [Member]
Income Tax Contingency [Line Items]
Surtax rate			2.50%

INCOME TAXES (Schedule of Recon

INCOME TAXES (Schedule of Reconciliation of Income Tax) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax expense at the statutory federal tax rate	21.00%	21.00%
Income tax expense at the statutory federal tax rate of 21% for the three and nine months ended December 31, 2021 and 2020	$ 497	$ 400
State tax expense	194	182
Other	(17)	(13)
Income tax expense	$ 674	$ 569

FINANCIAL INSTRUMENTS WITH OF_3

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK (Narrative) (Details) - USD ($)	Dec. 31, 2021	Sep. 30, 2021
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Cash	$ 2,141,000	$ 1,808,000
Asset Pledged as Collateral [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Cash	$ 300,000	$ 300,000

FINANCIAL INSTRUMENTS WITH OF_4

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK (Schedule of Information Regarding Derivatives) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021
Customer Interest Rate Swaps [Member] | Classified in Other Assets [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Average Maturiy (Years)	6 years 7 months 6 days	6 years 10 months 24 days
Weighted Average Variable Rate	1 Mo. LIBOR + 2.50	1 Mo. LIBOR + 2.50
Customer Interest Rate Swaps [Member] | Classified in Other Assets [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Notional Amount	$ 19,971	$ 20,111
Weighted Average Fixed Rate	3.61%	3.61%
Fair Value	$ 164	$ 183
3rd Party Interest Rate Swaps [Member] | Classified in Other Liabilities [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Average Maturiy (Years)	6 years 7 months 6 days	6 years 10 months 24 days
Weighted Average Variable Rate	1 Mo. LIBOR + 2.50	1 Mo. LIBOR + 2.50
3rd Party Interest Rate Swaps [Member] | Classified in Other Liabilities [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Notional Amount	$ 19,971	$ 20,111
Weighted Average Fixed Rate	3.61%	3.61%
Fair Value	$ 164	$ 183

FINANCIAL INSTRUMENTS WITH OF_5

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK (Schedule of Financial Instruments Whose Contract Amounts Representing Credit Risk) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments - contract amounts	$ 93,250	$ 90,413
Letters of credit [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments - contract amounts	2,808	2,901
Unused lines of credit [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments - contract amounts	61,901	63,798
Fixed rate loan commitments [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments - contract amounts	10,039	9,156
Variable rate loan commitments [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Financial instruments - contract amounts	$ 18,502	$ 14,558