Malvern Bancorp (MLVF) 10-Q 11 Feb 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2018	Feb. 11, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	MALVERN BANCORP, INC.
Entity Central Index Key	1,550,603
Document Type	10-Q
Trading Symbol	MLVF
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		7,774,594
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,019
Entity Small Business	true
Entity Emerging Growth Company	false

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
ASSETS
Cash and due from depository institutions	$ 1,377	$ 1,563
Interest bearing deposits in depository institutions	98,499	29,271
Cash and Cash Equivalents	99,876	30,834
Investment securities available for sale, at fair value (amortized cost of $19,768 and $24,804, respectively)	19,231	24,298
Investment securities held to maturity (fair value of $28,557 and $28,968, respectively)	29,323	30,092
Restricted stock, at cost	9,493	8,537
Loans receivable, net of allowance for loan losses of $9,247 and $9,021, respectively	924,639	902,136
Other real estate owned	5,796
Accrued interest receivable	3,724	3,800
Property and equipment, net	7,067	7,181
Deferred income taxes	3,367	3,195
Bank-owned life insurance	19,524	19,403
Other assets	6,452	4,475
Total Assets	1,128,492	1,033,951
Deposits:
Deposits-noninterest-bearing	39,734	41,677
Deposits-interest-bearing	803,466	732,486
Total Deposits	843,200	774,163
FHLB advances	118,000	118,000
Other short-term borrowings		2,500
Subordinated debt	24,500	24,461
Advances from borrowers for taxes and insurance	2,142	1,305
Accrued interest payable	1,251	784
Other liabilities	3,720	1,915
Total Liabilities	992,813	923,128
Commitments and Contingencies
Shareholders' Equity
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued
Common stock, $0.01 par value, 50,000,000 shares authorized, issued and outstanding: 7,774,594 at December 31, 2018 and 6,580,879 shares at September 30, 2018	78	66
Additional paid-in-capital	84,481	61,099
Retained earnings	52,423	50,412
Unearned Employee Stock Ownership Plan (ESOP) shares	(1,302)	(1,338)
Accumulated other comprehensive (loss) income	(1)	584
Total Shareholders' Equity	135,679	110,823
Total Liabilities and Shareholders' Equity	$ 1,128,492	$ 1,033,951

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Statement Of Financial Position [Abstract]
Investment securities available for sale, amortized cost	$ 19,768	$ 24,804
Investment securities held to maturity, fair value	28,557	28,968
Allowance for loan losses	$ 9,247	$ 9,021
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized	50,000,000	50,000,000
Common stock, issued	7,774,594	6,580,879
Common stock, outstanding	7,774,594	6,580,879

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Interest and Dividend Income
Loans, including fees	$ 10,095	$ 8,701
Investment securities, taxable	251	230
Investment securities, tax-exempt	61	65
Dividends, restricted stock	133	69
Interest-bearing cash accounts	372	446
Total Interest and Dividend Income	10,912	9,511
Interest Expense
Deposits	2,944	2,155
Short-term borrowings	5	19
Long-term borrowings	633	563
Subordinated Debt	383	392
Total Interest Expense	3,965	3,129
Net Interest Income	6,947	6,382
Provision for Loan Losses	1,453
Net Interest Income after Provision for Loan losses	5,494	6,382
Other Income
Service charges and other fees	940	271
Rental income - other	67	66
Net gains on sale of real estate		1,186
Net gains on sale of loans	18	67
Earnings on bank-owned life insurance	121	121
Total Other Income	1,146	1,711
Other Expenses
Salaries and employee benefits	2,008	1,990
Occupancy expense	539	562
Federal deposit insurance premium	69	76
Advertising	30	54
Data processing	254	278
Professional fees	499	788
Other real estate owned expense, net	21
Other operating expenses	674	723
Total Other Expenses	4,094	4,471
Income before income tax expense	2,546	3,622
Income tax expense	535	3,219
Net Income	$ 2,011	$ 403
Earnings Per Common Share:
Basic	$ 0.27	$ 0.06
Diluted	$ 0.27	$ 0.06
Weighted Average Common Shares Outstanding:
Basic	7,555,810	6,445,264
Diluted	7,555,969	6,450,513

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net Income	$ 2,011	$ 403
Other Comprehensive Income (Loss), Net of Tax:
Unrealized holding losses on available-for-sale securities	(33)	(83)
Tax effect	7	25
Net of tax amount	(26)	(58)
Accretion of unrealized holding losses on securites transferred from available-for-sale to held-to-maturity	2	2
Tax effect	(1)	(1)
Net of tax amount	1	1
Fair value adjustments on derivatives	(710)	242
Tax effect	150	(23)
Net of tax amount	(560)	219
Total other comprehensive (loss), income	(585)	162
Total comprehensive income	$ 1,426	$ 565

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Unearned ESOP Shares [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at beginning at Sep. 30, 2017	$ 102,520	$ 66	$ 60,736	$ 43,139	$ (1,483)	$ 62
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	403			403
Other comprehensive income	162					162
Committed to be released ESOP shares (3,600 shares)	96		60		36
Stock based compensation	15		15
Balance at ending at Dec. 31, 2017	103,196	66	60,811	43,542	(1,447)	224
Balance at beginning at Sep. 30, 2018	110,823	66	61,099	50,412	(1,338)	584
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	2,011			2,011
Other comprehensive income	(585)					(585)
Stock issuance (net of issuance of proceeds of $25,000)	23,344	12	23,332
Committed to be released ESOP shares (3,600 shares)	72		36		36
Stock based compensation	14		14
Balance at ending at Dec. 31, 2018	$ 135,679	$ 78	$ 84,481	$ 52,423	$ (1,302)	$ (1)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical)	3 Months Ended
	Dec. 31, 2018USD ($)shares
Statement Of Stockholders Equity [Abstract]
Committed to be released ESOP shares | shares	3,600
Proceeds from net of issuance cost | $	$ 25,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities
Net Income	$ 2,011	$ 403
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	191	187
Provision for Loan Losses	1,453
Deferred income tax (benefit) expense	(295)	2,849
ESOP expense	72	96
Stock based compensation	14	15
Amortization of premiums and discounts on investments securities, net	269	294
(Accretion) amortization of loan origination fees and costs	(192)	8
Amortization of mortgage servicing rights	10	13
Net gain on sale of real estate		(1,186)
Net gain on sale of secondary market loans	(18)	(67)
Proceeds from sale of secondary market loans	1,544	5,112
Originations of secondary market loans	(1,525)	(5,045)
Earnings on bank-owned life insurance	(121)	(121)
Decrease (increase) in accrued interest receivable	76	(205)
Increase in accrued interest payable	467	405
Increase in other liabilities	1,805	1,981
Increase in other assets	(2,419)	(367)
Amortization of subordinate debt	39	39
Net Cash Provided by Operating Activities	3,381	4,411
Investment securities available-for-sale:
Purchases	(5,000)	(30,140)
Sales	25
Maturities, calls and principal repayments	10,000	123
Investment securities held-to-maturity:
Maturities, calls and principal repayments	512	747
(Loan originations) and principal collections, net	(29,560)	27,559
Net increase in restricted stock	(956)	(371)
Proceeds from sale of real estate		1,315
Purchase of property and equipment	(78)	(183)
Net Cash Used in Investing Activities	(25,057)	(950)
Cash Flows from Financing Activities
Net increase in deposits	69,037	6,703
Proceeds for long-term borrowings	30,000	35,000
Repayment of long-term borrowings	(30,000)	(35,000)
Repayment of other borrowed money	(2,500)
Increase in advances from borrowers for taxes and insurance	837	1,342
Net proceeds from issuance of common stock	23,344
Net Cash Provided by Financing Activities	90,718	8,045
Net Increase in Cash and Cash Equivalents	69,042	11,506
Cash and Cash Equivalents - Beginning	30,834	117,136
Cash and Cash Equivalents - Ending	99,876	128,642
Supplemental Cash Flows Information
Interest paid	3,498	$ 2,724
Income taxes paid	163
Non-cash transfer to other real estate owned	$ 5,796

The Company

The Company	3 Months Ended
	Dec. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
The Company	Note 1 – The Company Malvern Bancorp, Inc. (the “Company” or “Malvern Bancorp”), a Pennsylvania corporation, is a registered bank holding company under the Bank Holding Company Act of 1956, as amended (the “Holding Company Act”). Malvern Bancorp is the holding company for Malvern Bank, National Association (“Malvern Bank” or the “Bank”), a national bank that was originally organized in 1887 as a federally-chartered savings bank. Malvern Bank now serves as one of the oldest banks headquartered on the Philadelphia Main Line. For more than a century, the Bank has been committed to helping people build prosperous communities as a trusted financial partner, forging lasting relationships through teamwork, respect and integrity. Effective February 12, 2018, the Bank converted from a federal savings bank charter to a national bank charter and Malvern Bancorp converted from a savings and loan holding company to a bank holding company. On October 9, 2018, the Company closed an underwritten public offering of shares of our common stock for gross proceeds of $25.0 million and net proceeds of approximately $23.3 million (after deducting the underwriting discount and other estimated offering expenses). The Bank conducts business from its headquarters in Paoli, Pennsylvania, a suburb of Philadelphia, and through its nine other banking locations in Chester, Delaware and Bucks counties, Pennsylvania, Palm Beach Florida, and Morristown, New Jersey, its New Jersey regional headquarters. The Bank also maintains a representative office in Montchanin, Delaware. The Bank’s primary market niche is providing personalized service to its client base. In preparing the unaudited consolidated financial statements, management has made estimates and assumptions that affect the reported amounts of assets and liabilities as of the dates of the unaudited consolidated statements of condition and that affect the results of operations for the periods presented. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to change in the near term relate to the determination of the allowance for loan losses, other real estate owned, the evaluation of deferred tax assets, the other-than-temporary impairment evaluation of securities, and the valuation of derivative positions. The unaudited consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 – Summary of Significant Accounting Policies Basis of financial statement presentation. The unaudited condensed consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiary, Malvern Bank, National Association and the Bank’s wholly-owned subsidiary, Malvern Insurance Associates, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements present the Company’s financial position at December 31, 2018 and the results of operations for the three-month periods ended December 31, 2018 and 2017, and cash flows for the three-month periods ended December 31, 2018 and 2017. In management’s opinion, the unaudited condensed consolidated financial statements contain all adjustments, which include normal and recurring adjustments, necessary for a fair presentation of the financial position and results of operations as of the dates and for the interim periods presented. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and note disclosures included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on December 14, 2018. The consolidated statement of operations for the three- month periods ended December 31, 2018 and the consolidated statements of cash flows for the three-month periods ended December 31, 2018 are not necessarily indicative of the results of operations or cash flows for the full year ending September 30, 2019 or any other period. There have been no significant changes to our Critical Accounting Policies as described in our 2018 Annual Report on Form 10-K. Recently Issued Financial. Instruments . In June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The ASU requires an organization to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied currently will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Organizations will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. Additionally, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. For public companies, this ASU will be effective for interim and annual periods beginning after December 15, 2019. All entities may adopt the amendments in this Update earlier as of the fiscal year beginning after December 15, 2018, including interim periods within those fiscal years. The Company does not expect to early adopt these changes. The Bank has a software system in place to assist with the calculation of Current Expected Credit Losses (“CECL”). Data is being collected and refined and testing of the various models is in process. The Company is evaluating the impact of this new requirement to the consolidated financial statements. Leases . In February 2016, the FASB issued ASU 2016-02 , Leases (Topic 842) . The update requires lessees to recognize, as of the lease commencement date, assets and liabilities for all such leases with lease terms of more than 12 months, which is a change from the current GAAP requirement to recognize only capital leases on the balance sheet. Pursuant to the new standard, the liability initially recognized for the lease obligation is equal to the present value of the lease payments not yet made, discounted over the lease term at the implicit interest rate of the lease, if available, or otherwise at the lessee’s incremental borrowing rate. The lessee is also required to recognize an asset for its right to use the underlying asset for the lease term, based on the liability subject to certain adjustments, such as for initial direct costs. Leases are required to be classified as either operating or finance, with expense on operating leases recorded as a single lease cost on a straight-line basis. For finance leases, interest expense on the lease liability is required to be recognized separately from the straight-line amortization of the right-of-use asset. Quantitative disclosures are required for certain items, including the cost of leases, the weighted-average remaining lease term, the weighted-average discount rate and a maturity analysis of lease liabilities. Additional qualitative disclosures are also required regarding the nature of the leases, such as basis, terms and conditions of: (i) variable interest payments; (ii) extension and termination options; and (iii) residual value guarantees. For lessors, the standard modifies classification criteria and accounting for sales- type and direct financing leases and requires a lessor to derecognize the carrying value of the leased asset that is considered to have been transferred to a lessee and record a lease receivable and residual asset (“receivable and residual” approach). This Update is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company does not expect to early adopt this standard. The new standard allows for a cumulative effect adjustment in the year of adoption by applying the new guidance as of the beginning of the earliest comparative period presented, using a modified retrospective transition approach with certain optional practical expedients. The Company is in the process of evaluating the impact of this guidance but expects to report higher assets and liabilities as a result of including additional leases on the consolidated statement of financial condition.

Non-Interest Income

Non-Interest Income	3 Months Ended
	Dec. 31, 2018
Noninterest Income [Abstract]
Non-Interest Income	Note 3 – Non-Interest Income On October 1, 2018, the Company adopted the amendments of ASU 2014-09 - Revenue from Contracts with Customers (Topic 606) and all subsequent ASUs that modified Topic 606. A significant amount of the Company’s revenues is derived from net interest income on financial assets and liabilities, which are excluded from the scope of the amended guidance. Some sources of revenue included within non-interest income fall within the scope of Topic 606, while other sources do not. The Company recognizes revenue when the performance obligations related to the transfer of goods or services under the terms of the contract are satisfied. Some obligations are satisfied at a point in time while others are satisfied over a period of time. Revenue is recognized as the amount of consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer. When consideration includes a variable component, the amount of consideration attributable to variability is included in the transaction price only to the extent it is probable that significant revenue recognized will not be reversed when uncertainty associated with the variable consideration is subsequently resolved. The Company’s contracts generally do not contain terms that require significant judgement to determine the variability impacting the transaction price. The Company has included the following table regarding the Company’s non-interest income for the periods presented. Three Months Ended December 31, 2018 2017 (Dollars in thousands) Rental income - other $ 67 $ 66 Net gains on sale of real estate - 1,186 Net gains on sale of loans 18 67 Earnings on bank-owned life insurance 121 121 Non-interest income within the scope of other GAAP topics 206 1,440 ATM fees 1 4 Credit card fee income 6 6 DDA fee income 37 36 DDA service fees 19 18 Debit card fees 60 56 Other loan fee income 764 65 Other fee income 52 84 Other non-interest income 1 2 Non-interest income from contracts with customers $ 940 $ 271 Total Non-interest Income $ 1,146 $ 1,711 The majority of our revenue-generating transactions are not subject to ASC 606, including revenue generated from financial instruments, such as our loans, investment securities, derivatives as well as revenue related to BOLI, sales of investment securities, rental income, and gain on sale of loans. Revenue-generating activities that are within the scope of ASC 606, which are presented in our statements of operations as components of other income included certain fees such as credit card fee income, DDA service and fee income, and debit card fees.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Note 4 – Earnings Per Share Basic earnings per common share is computed based on the weighted average number of shares outstanding reduced by unearned ESOP shares. Diluted earnings per share is computed based on the weighted average number of shares outstanding and common stock equivalents (“CSEs”) that would arise from the exercise of dilutive securities reduced by unearned ESOP shares. During the three months ended December 31, 2018, the Company granted 3,238 restricted shares , which are considered CSEs. The Company did not grant any stock options . The following table sets forth the composition of the weighted average shares (denominator) used in the earnings per share computations. Three Months Ended December 31, 2018 2017 (Dollars in thousands, except share and per share data) Net Income $ 2,011 $ 403 Weighted average shares outstanding 7,668,751 6,572,605 Average unearned ESOP shares (112,941 ) (127,341 ) Basic weighted average share outstanding 7,555,810 6,445,264 Plus: effect of potential dilutive common stock equivalents - stock options 159 5,249 Diluted weighted average common shares outstanding 7,555,969 6,450,513 Earnings per common share: Basic $ 0.27 $ 0.06 Diluted $ 0.27 $ 0.06

Employee Stock Ownership Plan

Employee Stock Ownership Plan	3 Months Ended
	Dec. 31, 2018
Employee Stock Ownership Plan E S O P Shares In E S O P [Abstract]
Employee Stock Ownership Plan	Note 5 – Employee Stock Ownership Plan The Company established an employee stock ownership plan (“ESOP”) for substantially all of its full-time employees. The current ESOP trustee is Pentegra. Shares of the Company’s common stock purchased by the ESOP are held until released for allocation to participants. Shares released are allocated to each eligible participant based on the ratio of each such participant’s base compensation to the total base compensation of all eligible plan participants. As the unearned shares are committed to be released and allocated among participants, the Company recognizes compensation expense equal to the fair value of the ESOP shares during the periods in which they become committed to be released. To the extent that the fair value of the ESOP shares released differs from the cost of such shares, the difference is charged or credited to additional paid-in capital. During the period from May 20, 2008 to September 30, 2008, the ESOP purchased 241,178 shares of the common stock for approximately $2.6 million, an average price of $10.86 per share, which was funded by a loan from Malvern Federal Bancorp, Inc. (the Company’s predecessor). The ESOP loan is being repaid principally from the Bank’s contributions to the ESOP. The loan, which bears an interest rate of 5%, is being repaid in quarterly installments through 2026. Shares are released to participants proportionately as the loan is repaid. During each of the three months ended December 31, 2018 and 2017, there were 3,600 shares committed to be released. At December 31, 2018, there were 111,165 unallocated shares and 148,053 allocated shares held by the ESOP. The unallocated shares had an aggregate fair value of approximately $2.2 million at December 31, 2018.

Investment Securities

Investment Securities	3 Months Ended
	Dec. 31, 2018
Investments Debt And Equity Securities [Abstract]
Investment Securities	Note 6 - Investment Securities The Company’s investment securities are classified as available-for-sale or held-to-maturity at December 31, 2018 and at September 30, 2018. Investment securities available-for-sale are reported at fair value with unrealized gains or losses included in equity, net of tax. Accordingly, the carrying value of such securities reflects their fair value at the balance sheet date. Fair value is based upon either quoted market prices, or in certain cases where there is limited activity in the market for a particular instrument, assumptions are made to determine their fair value. Transfers of debt securities from the available-for-sale category to the held-to-maturity category are made at fair value at the date of transfer. The unrealized holding gain or loss at the date of transfer remains in accumulated other comprehensive income and in the carrying value of the held-to-maturity investment security. Premiums or discounts on investment securities are amortized or accreted using the effective interest method over the life of the security as an adjustment of yield. Unrealized holding gains or losses that remain in accumulated other comprehensive income are amortized or accreted over the remaining life of the security as an adjustment of yield, offsetting the related amortization of the premium or accretion of the discount. The following tables present information related to the Company’s investment securities at December 31, 2018 and September 30, 2018. December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Investment Securities Available-for-Sale: State and municipal obligations $ 6,944 $ 3 $ (14 ) $ 6,933 Single issuer trust preferred security 1,000 - (128 ) 872 Corporate debt securities 11,574 - (398 ) 11,176 Mutual fund 250 - - 250 Total 19,768 3 (540 ) 19,231 Investment Securities Held-to-Maturity: U.S. government agencies $ 2,000 $ - $ (14 ) $ 1,986 State and municipal obligations 8,124 6 (27 ) 8,103 Corporate debt securities 3,689 - (48 ) 3,641 Mortgage-backed securities: Collateralized mortgage obligations (CMO), fixed-rate 15,510 - (683 ) 14,827 29,323 6 (772 ) 28,557 Total investment securities $ 49,091 $ 9 $ (1,312 ) $ 47,788 September 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Investment Securities Available-for-Sale: U.S. treasury notes $ 9,996 $ - $ (10 ) $ 9,986 State and municipal obligations 6,953 - (66 ) 6,887 Single issuer trust preferred security 1,000 - (79 ) 921 Corporate debt securities 6,605 - (351 ) 6,254 Mutual fund 250 - - 250 Total 24,804 - (506 ) 24,298 Investment Securities Held-to-Maturity: U.S. government agencies $ 1,999 $ - $ (20 ) $ 1,979 State and municipal obligations 8,181 - (66 ) 8,115 Corporate debt securities 3,715 - (49 ) 3,666 Mortgage-backed securities: Collateralized mortgage obligations (CMO), fixed-rate 16,197 - (989 ) 15,208 $ 30,092 $ - $ (1,124 ) $ 28,968 Total investment securities $ 54,896 $ - $ (1,630 ) $ 53,266 For the three months ended December 31, 2018 proceeds of available-for-sale investment securities sold amounted to approximately $25,000. There was no gain or loss with this sale. The following tables indicate gross unrealized losses not recognized in income and fair value, aggregated by investment category and the length of time individual securities have been in a continuous unrealized loss position at December 31, 2018 and September 30, 2018: December 31, 2018 Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Investment Securities Available for Sale: State and municipal obligations $ 1,635 $ (3 ) $ 2,791 $ (11 ) $ 4,426 $ (14 ) Single issuer trust preferred security - - 872 (128 ) 872 (128 ) Corporate debt securities 4,950 (25 ) 6,226 (373 ) 11,176 (398 ) Total $ 6,585 $ (28 ) $ 9,889 $ (512 ) $ 16,474 $ (540 ) Investment Securities Held-to-Maturity: U.S. government agencies $ - $ - $ 1,986 $ (14 ) $ 1,986 $ (14 ) State and municipal obligations 1,860 (1 ) 5,077 (26 ) 6,937 (27 ) Corporate debt securities 3,641 (48 ) - - 3,641 (48 ) Mortgage-backed securities: CMO, fixed-rate - - 14,827 (683 ) 14,827 (683 ) Total $ 5,501 $ (49 ) $ 21,890 $ (723 ) $ 27,391 $ (772 ) Total investment securities $ 12,086 $ (77 ) $ 31,779 $ (1,235 ) $ 43,865 $ (1,312 ) September 30, 2018 Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Investment Securities Available for Sale: U.S. treasury and notes $ 9,986 $ (10 ) $ - $ - $ 9,986 $ (10 ) State and municipal obligations 5,433 (56 ) 1,000 (10 ) 6,433 (66 ) Single issuer trust preferred security - - 921 (79 ) 921 (79 ) Corporate debt securities - - 6,254 (351 ) 6,254 (351 ) Total $ 15,419 $ (66 ) $ 8,175 $ (440 ) $ 23,594 $ (506 ) Investment Securities Held-to-Maturity: U.S. government agencies $ - $ - $ 1,979 $ (20 ) $ 1,979 $ (20 ) State and municipal obligations 8,115 (66 ) - - 8,115 (66 ) Corporate debt securities 3,666 (49 ) - - 3,666 (49 ) Mortgage-backed securities: CMO, fixed-rate 127 (6 ) 15,081 (983 ) 15,208 (989 ) Total 11,908 (121 ) 17,060 (1,003 ) 28,968 (1,124 ) Total investment securities $ 27,327 $ (187 ) $ 25,235 $ (1,443 ) $ 52,562 $ (1,630 ) As of December 31, 2018, the estimated fair value of the securities disclosed above was primarily dependent upon the movement in market interest rates, particularly given the inherent credit risk associated with these securities. These investment securities are comprised of securities that are rated investment grade by at least one bond credit rating service. Although the fair value will fluctuate as market interest rates move, management believes that these fair values will recover as the underlying portfolios mature and are reinvested in market rate yielding investments. As of December 31, 2018, the Company held two U.S. government agency securities, thirteen municipal bonds, five corporate securities, 37 mortgage-backed securities and one single issuer trust preferred security which were in an unrealized loss position. The Company does not intend to sell and expects that it is not more likely than not that it will be required to sell these securities until such time as the value recovers or the securities mature. Management does not believe any individual unrealized loss as of December 31, 2018 represents other-than-temporary impairment. Investment securities having a carrying value of approximately $7.5 million and $17.9 million at December 31, 2018 and September 30, 2018, respectively were pledged to secure deposits. In addition, no investment securities were pledged to secure short-term borrowings at December 31, 2018. Investment securities having a carrying value of $3.1 million at September 30, 2018 were pledged to secure short-term borrowings The following table presents information for investment securities at December 31, 2018, based on scheduled maturities. Actual maturities can be expected to differ from scheduled maturities due to prepayment or early call options of the issuer. Amortized Cost Fair Value (In thousands) Available-for-Sale: Within 1 year $ 1,003 $ 1,000 Over 1 year through five years 8,337 8,170 After 5 years through ten years 9,973 9,606 Over 10 years 455 455 Total $ 19,768 $ 19,231 Held-to-Maturity: Within 1 year 2,000 1,986 After 5 years through ten years 5,542 5,491 Over 10 years 6,271 6,253 Mortgage-backed securities: Collaterized mortgage obligations, fixed-rate 15,510 14,827 Total $ 29,323 $ 28,557 Total investment securities $ 49,091 $ 47,788

Loans Receivable and Related Al

Loans Receivable and Related Allowance for Loan Losses	3 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Loans Receivable and Related Allowance for Loan Losses	Note 7 - Loans Receivable and Related Allowance for Loan Losses Loans receivable in the Company’s portfolio consisted of the following at the dates indicated below: December 31, 2018 September 30, 2018 Residential mortgage $ 202,306 $ 197,219 Construction and Development: Residential and commercial 41,140 37,433 Land 7,180 9,221 Total Construction and Development 48,320 46,654 Commercial: Commercial real estate 508,448 493,929 Farmland 12,054 12,066 Multi-family 44,989 45,102 Other 84,236 80,059 Total Commercial 649,727 631,156 Consumer: Home equity lines of credit 14,484 14,884 Second mortgages 16,674 18,363 Other 1,915 2,315 Total Consumer 33,073 35,562 Total loans 933,426 910,591 Deferred loan fees and costs, net 460 566 Allowance for loan losses (9,247 ) (9,021 ) Total loans receivable, net $ 924,639 $ 902,136 The following tables summarize the primary classes of the allowance for loan losses (“ALLL”), 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, 2018 and September 30, 2018. Activity in the allowance is presented for the three months ended December 31, 2018 and 2017 and the year ended September 30, 2018, respectively. Construction and Development Commercial Consumer Residential Mortgage Residential and Commercial Land Commercial Real Estate Farmland Multi- Family Other Home Equity Lines of Credit Second Mortgages Other Unallocated Total Allowance for loan losses: (Dollars in thousands) Three Months Ended December 31, 2018 Beginning Balance $ 1,062 $ 393 $ 49 $ 5,031 $ 66 $ 232 $ 467 $ 82 $ 326 $ 51 $ 1,262 $ 9,021 Charge-offs (17 ) - - (1,223 ) - - - - - (1 ) - (1,241 ) Recoveries - - - 3 - - 2 - 8 1 - 14 Provisions 119 46 (4 ) 1,533 (2 ) 42 (7 ) (3 ) 57 (7 ) (321 ) 1,453 Ending balance $ 1,164 $ 439 $ 45 $ 5,344 $ 64 $ 274 $ 462 $ 79 $ 391 $ 44 $ 941 $ 9,247 Ending balance: individually evaluated for impairment $ - $ - $ - $ 338 $ - $ - $ - $ - $ 179 $ 26 $ - $ 543 Ending balance: collectively evaluted for impairment $ 1,164 $ 439 $ 45 $ 5,006 $ 64 $ 274 $ 462 $ 79 $ 212 $ 18 $ 941 $ 8,704 Loans receivable: Ending balance $ 202,306 $ 41,140 $ 7,180 $ 508,448 $ 12,054 $ 44,989 $ 84,236 $ 14,484 $ 16,674 $ 1,915 $ 933,426 Ending balance: individually evaluated for impairment $ 3,627 $ - $ 72 $ 10,349 $ - $ - $ - $ 34 $ 619 $ 26 $ 14,727 Ending balance: collectively evaluated for impairment $ 198,679 $ 41,140 $ 7,108 $ 498,099 $ 12,054 $ 44,989 $ 84,236 $ 14,450 $ 16,055 $ 1,889 $ 918,699 Construction and Development Commercial Consumer Residential Mortgage Residential and Commercial Land Commercial Real Estate Farmland Multi- Family Other Home Equity Lines of Credit Second Mortgages Other Unallocated Total Allowance for loan losses: (Dollars in thousands) Three Months Ended December 31, 2017 Beginning Balance $ 1,004 $ 523 $ 132 $ 3,581 $ 9 $ 224 $ 541 $ 90 $ 402 $ 27 $ 1,872 $ 8,405 Charge-offs - - - - - - - - - (2 ) - (2 ) Recoveries 2 - - 9 - - 1 1 19 2 - 34 Provisions 23 9 (2 ) 670 3 (24 ) (93 ) 3 42 3 (634 ) - Ending balance $ 1,029 $ 532 $ 130 $ 4,260 $ 12 $ 200 $ 449 $ 94 $ 463 $ 30 $ 1,238 $ 8,437 Ending balance: individually evaluated for impairment $ - $ - $ - $ 156 $ - $ - $ - $ - $ 156 $ 1 $ - $ 313 Ending balance: collectively evaluted for impairment $ 1,029 $ 532 $ 130 $ 4,104 $ 12 $ 200 $ 449 $ 94 $ 307 $ 29 $ 1,238 $ 8,124 Loans receivable: Ending balance $ 186,831 $ 34,627 $ 18,599 $ 427,610 $ 1,711 $ 32,716 $ 71,933 $ 16,811 $ 21,304 $ 2,435 $ 814,577 Ending balance: individually evaluated for impairment $ 2,438 $ - $ 89 $ 1,347 $ - $ - $ 239 $ 10 $ 578 $ 1 $ 4,702 Ending balance: collectively evaluated for impairment $ 184,393 $ 34,627 $ 18,510 $ 426,263 $ 1,711 $ 32,716 $ 71,694 $ 16,801 $ 20,726 $ 2,434 $ 809,875 Construction and Development Commercial Consumer Residential Mortgage Residential and Commercial Land Commercial Real Estate Farmland Multi- Family Other Home Equity Lines of Credit Second Mortgages Other Unallocated Total Allowance for loan losses: (Dollars in thousands) Year Ended September 30, 2018 Allowance for credit losses: Beginning Balance $ 1,004 $ 523 $ 132 $ 3,581 $ 9 $ 224 $ 541 $ 90 $ 402 $ 27 $ 1,872 $ 8,405 Charge-offs (60 ) - - (276 ) - - (45 ) - (88 ) (2 ) - (471 ) Recoveries 58 - - 11 - - 4 1 52 7 - 133 Provisions 60 (130 ) (83 ) 1,715 57 8 (33 ) (9 ) (40 ) 19 (610 ) 954 Ending balance $ 1,062 $ 393 $ 49 $ 5,031 $ 66 $ 232 $ 467 $ 82 $ 326 $ 51 $ 1,262 $ 9,021 Ending balance: individually evaluated for impairment $ - $ - $ - $ 1,448 $ - $ - $ - $ - $ 103 $ 26 $ - $ 1,577 Ending balance: collectively evaluted for impairment $ 1,062 $ 393 $ 49 $ 3,583 $ 66 $ 232 $ 467 $ 82 $ 223 $ 25 $ 1,262 $ 7,444 Loans receivable: Ending balance $ 197,219 $ 37,433 $ 9,221 $ 493,929 $ 12,066 $ 45,102 $ 80,059 $ 14,884 $ 18,363 $ 2,315 $ 910,591 Ending balance: individually evaluated for impairment $ 3,148 $ - $ 76 $ 17,409 $ - $ - $ - $ 34 $ 635 $ 26 $ 21,328 Ending balance: collectively evaluated for impairment $ 194,071 $ 37,433 $ 9,145 $ 476,520 $ 12,066 $ 45,102 $ 80,059 $ 14,850 $ 17,728 $ 2,289 $ 889,263 In assessing the adequacy of the ALLL, it is recognized that the process, methodology and underlying assumptions require a significant degree of judgment. The estimation of credit losses is not precise; the range of factors considered is wide and is significantly dependent upon management’s judgment, including the outlook and potential changes in the economic environment. At present, components of the commercial loan segments of the portfolio are new originations and the associated volumes continue to see increased growth. At the same time, historical loss levels have decreased as factors in assessing the portfolio. The combination of these factors has given rise to an increase in the unallocated level within the allowance. Any unallocated portion of the allowance in conjunction with the quarterly review and changes to the qualitative factors to adjust for the risk due to current economic conditions, reflects management’s estimate of probable inherent but undetected losses within the portfolio due to uncertainties in economic conditions, regulatory requirements, delays in obtaining information, including unfavorable information about a borrower’s financial condition, the difficulty in identifying triggering events that correlate perfectly to subsequent loss rates, and risk factors that have not yet manifested themselves in loss allocation factors. The following table presents impaired loans in portfolio by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary as of December 31, 2018 and September 30, 2018. Impaired Loans with Specific Allowance Impaired Loans with No Specific Allowance Total Impaired Loans Recorded Investment Related Allowance Recorded Investment Recorded Investment Unpaid Principal Balance (In thousands) December 31, 2018 Residential mortgage $ - $ - $ 3,627 $ 3,627 $ 3,782 Construction and Development: Land - - 72 72 72 Commercial: Commercial real estate 9,807 338 542 10,349 10,626 Consumer: Home equity lines of credit - - 34 34 35 Second mortgages 196 179 423 619 671 Other 26 26 - 26 26 Total impaired loans $ 10,029 $ 543 $ 4,698 $ 14,727 $ 15,212 September 30, 2018 Residential mortgage $ - $ - $ 3,148 $ 3,148 $ 3,337 Construction and Development: Land - - 76 76 76 Commercial: Commercial real estate 16,343 1,448 1,066 17,409 17,685 Consumer: Home equity lines of credit - - 34 34 34 Second mortgages 120 103 515 635 730 Other 26 26 - 26 26 Total impaired loans $ 16,489 $ 1,577 $ 4,839 $ 21,328 $ 21,888 The following table presents the average recorded investment in impaired loans in portfolio and related interest income recognized for the three months ended December 31, 2018 and 2017. Three Months Ended December 31, 2018 Average Impaired Loans Interest Income Recognized on Impaired Loans (in thousands) Residential mortgage $ 3,563 $ 27 Construction and Development: Land 73 1 Commercial: Commercial real estate 15,017 76 Consumer: Home equity lines of credit 45 - Second mortgages 625 2 Other 26 - Total $ 19,349 $ 106 Three Months Ended December 31, 2017 Average Impaired Loans Interest Income Recognized on Impaired Loans (in thousands) Residential mortgage $ 2,390 $ 12 Construction and Development: Land 91 1 Commercial: Commercial real estate 820 6 Other 241 3 Consumer: Home equity lines of credit 10 - Second mortgages 495 2 Other 1 - Total $ 4,048 $ 24 The following table presents the classes of the loan portfolio summarized by loans considered to be rated as pass and the categories of special mention, substandard and doubtful within the Company’s internal risk rating system as of December 31, 2018 and September 30, 2018. Pass Special Mention Substandard Doubtful Total (In thousands) December 31, 2018: Residential mortgage $ 197,816 $ - $ 4,490 $ - $ 202,306 Construction and Development: Residential and commercial 41,140 - - - 41,140 Land 7,108 - 72 - 7,180 Commercial: Commercial real estate 495,225 1,549 11,674 - 508,448 Farmland 12,054 - - - 12,054 Multi-family 44,989 - - - 44,989 Other 84,086 - 150 - 84,236 Consumer: Home equity lines of credit 14,353 - 131 - 14,484 Second mortgages 15,700 101 873 - 16,674 Other 1,888 - 27 - 1,915 Total $ 914,359 $ 1,650 $ 17,417 $ - $ 933,426 Pass Special Mention Substandard Doubtful Total (In thousands) September 30, 2018: Residential mortgage $ 193,584 $ - $ 3,635 $ - $ 197,219 Construction and Development: Residential and commercial 37,433 - - - 37,433 Land 9,146 - 75 - 9,221 Commercial: Commercial real estate 474,232 949 18,748 - 493,929 Farmland 12,066 - - - 12,066 Multi-family 45,102 - - - 45,102 Other 79,902 - 157 - 80,059 Consumer: Home equity lines of credit 14,707 - 177 - 14,884 Second mortgages 17,402 103 858 - 18,363 Other 2,289 - 26 - 2,315 Total $ 885,863 $ 1,052 $ 23,676 $ - $ 910,591 The following table presents loans that are no longer accruing interest by portfolio class. December 31, 2018 September 30, 2018 (In thousands) Non-accrual loans: Residential mortgage $ 1,783 $ 1,817 Commercial: Commercial real estate 520 520 Consumer: Home equity lines of credit 34 34 Second mortgages 199 290 Other 26 26 Total non-accrual loans $ 2,562 $ 2,687 Under the Bank’s loan policy, once a loan has been placed on non-accrual status, we do not resume interest accruals until the loan has been brought current and has maintained a current payment status for not less than six consecutive months. Interest income that would have been recognized on nonaccrual loans had they been current in accordance with their original terms was approximately $79,000 and $10,000 for the three months ended December 31, 2018 and 2017, respectively Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by whether a loan payment is “current,” that is, it is received from a borrower by the scheduled due date, or the length of time a scheduled payment is past due. The following table presents the classes of the loan portfolio summarized by the aging categories as of December 31, 2018 and September 30, 2018. Current 30-59 Days Past Due 60-89 Days Past Due 90 Days and More Past Due Total Past Due Total Loans Receivable Loans Receivable > 90 Days and Accruing (In thousands) December 31, 2018: Residential mortgage $ 197,767 $ 2,334 $ 1,069 $ 1,137 4,540 $ 202,306 $ 719 Construction and Development: Residential and commercial 41,140 - - - - 41,140 - Land 7,180 - - - - 7,180 - Commercial: Commercial real estate 506,980 948 - 520 1,468 508,448 - Farmland 12,054 - - - - 12,054 - Multi-family 44,989 - - - - 44,989 - Other 84,236 - - - - 84,236 - Consumer: Home equity lines of credit 14,284 69 97 34 200 14,484 - Second mortgages 16,327 187 25 135 347 16,674 39 Other 1,886 2 - 26 28 1,915 1 Total $ 926,843 $ 3,540 $ 1,191 $ 1,852 $ 6,583 $ 933,426 $ 759 Current 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Total Loans Receivable Loans Receivable > 90 Days and Accruing (In thousands) September 30, 2018: Residential mortgage $ 193,727 $ 450 $ 1,016 $ 2,026 $ 3,492 $ 197,219 $ 339 Construction and Development: Residential and commercial 37,433 - - - - 37,433 - Land 9,221 - - - - 9,221 - Commercial: Commercial real estate 485,886 449 7,019 575 8,043 493,929 - Farmland 12,066 - - - - 12,066 Multi-family 45,102 - - - - 45,102 - Other 80,059 - - - - 80,059 - Consumer: Home equity lines of credit 14,815 - - 69 69 14,884 35 Second mortgages 17,928 121 103 211 434 18,363 - Other 2,282 7 1 25 33 2,315 - Total $ 898,519 $ 1,027 $ 8,139 $ 2,906 $ 12,072 $ 910,591 $ 374 Restructured loans deemed to be trouble debt restructures (“TDRs”) The Company had twenty-two and eighteen loans classified as TDRs at December 31, 2018 and September 30, 2018, respectively, with an aggregate outstanding balance of $12.7 million and $18.9 million, respectively. At December 31, 2018, these loans were also classified as impaired. Eighteen of the TDR loans continue to perform under the restructured terms through December 31, 2018 and we continued to accrue interest on such loans through such date. As previously disclosed in the Company’s Form 10-K filed on December 14, 2018, one TDR with an aggregate outstanding balance of approximately $7.0 million ceased to perform under modified terms and as a result the Company accepted a deed in lieu of foreclosure. D The Company had a $1.5 million provision for loan losses during the quarter ended December 31, 2018 compared to $125,000 for the quarter ended September 30, 2018. Provision expense was higher during the first quarter fiscal 2019 due primarily to the TDR commercial real estate loan write-down of approximately $1.2 million noted above and continued growth in the commercial loan portfolio during the quarter. At the same time the Company added a new qualitative factor, defined as Regulatory Oversight, to its allowance methodology to address the difference in the required allowance based on asset quality and the directionally consistent level of the allowance. Unique to the other factors, this is a single calculation figure which is subsequently applied to the loan portfolio by loan type (Commercial, Residential and Consumer) based upon the percent of each to total loans. It is derived from a review of a peer group consisting of 10 banks with similar asset size within the same general geographic area of Malvern Bank. This new factor amounted for an additional $390,000 added to the provision for the period. Primarily, as a result of this transfer to other real estate owned, TDR loans at December 31, 2018 decreased by $6.2 million compared to September 30, 2018 and total non-performing assets at December 31, 2018 increased by $6.1 million compared to September 30, 2018. All of such loans have been classified as TDRs since we modified the payment terms and in some cases interest rate from the original agreements and allowed the borrowers, who were experiencing financial difficulty, to make interest only payments for a period of time in order to relieve some of their overall cash flow burden. Some loan modifications classified as TDRs may not ultimately result in the full collection of principal and interest, as modified, and could result in potential incremental losses. These potential incremental losses have been factored into our overall estimate of the allowance for loan losses. The level of any defaults will likely be affected by future economic conditions. A default on a troubled debt restructured loan for purposes of this disclosure occurs when the borrower is 90 days past due or a foreclosure or repossession of the applicable collateral has occurred. TDRs may arise in which, due to financial difficulties experienced by the borrower, the Company obtains through physical possession one or more collateral assets in satisfaction of all or part of an existing credit. Once possession is obtained, the Company reclassifies the appropriate portion of the remaining balance of the credit from loans to other real estate owned (“OREO”), which is included within other assets in the Consolidated Statements of Condition. For any residential real estate property collateralizing a consumer mortgage loan, the Company is considered to possess the related collateral only if legal title is obtained upon completion of foreclosure, or the borrower conveys all interest in the residential real estate property to the Company through completion of a deed in lieu of foreclosure or similar legal agreement. Excluding OREO, the Company had $2.1 million and $1.4 million Total Troubled Debt Restructurings Troubled Debt Restructured Loans That Have Defaulted on Modified Terms Within The Past 12 Months Number of Loans Recorded Investment Number of Loans Recorded Investment (Dollars in thousands) At December 31, 2018: Residential mortgage 14 $ 2,537 4 $ 500 Construction and Development: Land 1 72 - - Commercial: Commercial real estate 3 9,830 - - Consumer: Second mortgages 4 225 - - Total 22 $ 12,664 $ 4 $ 500 At September 30, 2018: Residential mortgage 10 $ 1,816 3 $ 289 Construction and Development: Land 1 76 - - Commercial: Commercial real estate 4 16,889 - - Consumer: Second mortgages 3 148 - - Total 18 $ 18,929 3 $ 289 The following table reports the performing status of all TDR loans. The performing status is determined by the loans compliance with the modified terms. December 31, 2018 September 30, 2018 Performing Non-Performing Performing Non-Performing (In thousands) Residential mortgage $ 2,037 $ 500 $ 1,527 $ 289 Construction and Development: Land 72 - 76 - Commercial: Commercial real estate 9,830 - 16,889 - Consumer: Second mortgages 225 - 148 - Total $ 12,164 $ 500 $ 18,640 $ 289 The following table shows the new TDRs for the three months ended December 31, 2018 and 2017. For the Three Months Ended December 31, 2018 2017 Number of Contracts Pre- Modifications Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Contracts Pre- Modifications Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment (Dollars in thousands) Troubled Debt Restructurings: Residential mortgage 4 $ 732 $ 726 - $ - $ - Consumer: Second mortgages 1 $ 80 $ 79 - $ - $ - Total troubled debt restructurings 5 $ 812 $ 805 - $ - $ -

Regulatory Matters

Regulatory Matters	3 Months Ended
	Dec. 31, 2018
Banking And Thrift [Abstract]
Regulatory Matters	Note 8 - Regulatory Matters The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk-weightings and other factors. In J l r iv U S r a a f a e d F r a a r r to l a J n 1 e r a a b e b a a r r r m r r for r w R W A ratio b r a a a w r r r a a r a s e a a r r a a a r l r s F m Malvern Federal a a a r a of f iv J n 1 e a a a r m a a r a r J n 1 Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below) of tangible and core capital (as defined in the regulations) to total adjusted tangible assets (as defined) and of risk-based capital (as defined) to risk-weighted assets (as defined). As of December 31, 2018, the Company’s and the Bank’s current capital levels exceed the required capital amounts to be considered “well capitalized” and we believe they also meet the fully-phased in minimum capital requirements, including the related capital conservation buffers, as required by the Basel III capital rules. On October 9, 2018, the Company closed an underwritten public offering of shares of our common stock for gross proceeds of $25.0 million and net proceeds of approximately $23.3 million (after deducting the underwriting discount and other estimated offering expenses). The following table summarizes the Company’s compliance with applicable regulatory capital requirements as of December 31, 2018 and September 30, 2018: Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2018 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 135,679 12.55 % $ 43,246 4.00 % $ 54,058 5.00 % Common Equity Tier 1 Capital (to risk weighted assets) 135,679 14.61 % 41,793 4.50 % 60,368 6.50 % Tier 1 Capital (to risk weighted assets) 135,679 14.61 % 55,724 6.00 % 74,299 8.00 % Total Risk Based Capital (to risk weighted assets) 169,494 18.25 % 74,299 8.00 % 92,874 10.00 % As of September 30, 2018 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 110,239 10.63 % $ 41,491 4.00 % $ 51,864 5.00 % Common Equity Tier 1 Capital (to risk weighted assets) 110,239 12.62 % 39,322 4.50 % 56,799 6.50 % Tier 1 Capital (to risk weighted assets) 110,239 12.62 % 52,430 6.00 % 69,906 8.00 % Total Risk Based Capital (to risk weighted assets) 143,787 16.45 % 69,906 8.00 % 87,383 10.00 % The following table summarizes the Bank’s compliance with applicable regulatory capital requirements as of December 31, 2018 and September 30, 2018 : Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2018 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 144,216 13.35 % $ 43,219 4.00 % $ 54,024 5.00 % Common Equity Tier 1 Capital (to risk weighted assets) 144,216 15.54 % 41,752 4.50 % 60,308 6.50 % Tier 1 Capital (to risk weighted assets) 144,216 15.54 % 55,670 6.00 % 74,225 8.00 % Total Risk Based Capital (to risk weighted assets) 153,530 16.55 % 74,225 8.00 % 92,782 10.00 % As of September 30, 2018 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 131,746 12.71 % $ 41,450 4.00 % $ 51,812 5.00 % Common Equity Tier 1 Capital (to risk weighted assets) 131,746 15.09 % 39,293 4.50 % 56,756 6.50 % Tier 1 Capital (to risk weighted assets) 131,746 15.09 % 52,390 6.00 % 69,853 8.00 % Total Risk Based Capital (to risk weighted assets) 140,833 16.13 % 69,853 8.00 % 87,317 10.00 %

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Dec. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Note 9 – Derivatives and Hedging Activities The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the payment of future uncertain cash amounts, the value of which are determined by interest rates. The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in Accumulated Other Comprehensive Income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. At December 31, 2018, such derivatives were used to hedge the variable cash flows associated with FHLB advances. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. During the next twelve months, the Company estimates approximately $381,000 to be reclassified to earnings in interest expense. The Company is hedging its exposure to the variability in future cash flows for forecasted transactions over a maximum period of twenty months (excluding forecasted transactions related to the payment of variable interest on existing financial instruments). The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. These derivatives are not designated as hedges and are not speculative. Rather, these derivatives result from a service the Company provides to certain customers, which the Company implemented during the first quarter of fiscal 2019. As the interest rate swaps associated with this program do not meet the hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. The tables below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition as of December 31, 2018 and September 30, 2018: ` December 31, 2018 Asset derivatives Liability derivatives Notional Amount Fair Value Balance Sheet Location Notional Amount Fair Value Balance Sheet Location (Dollars in thousand) Derivatives designated as a hedging instrument: Interest rate swap agreement $ 35,000 $ 739 Other assets $ 30,000 $ 204 Other liabilities Derivatives not designated as a hedging instrument: Interest rate swap agreement $ 25,350 $ 1,139 Other assets $ 25,350 $ 1,140 Other liabilities September 30, 2018 Asset derivatives Liability derivatives Notional Amount Fair Value Balance Sheet Location Notional Amount Fair Value Balance Sheet Location (Dollars in thousand) Derivatives designated as a hedging instrument: Interest rate swap agreement $ 65,000 $ 1,245 Other assets $ - $ - The tables below presents the net gains (losses) recorded in accumulated other comprehensive income and the Consolidated Statements of Income relating to the cash flow derivative instruments for the three months ended December 31, 2018 and 2017. Three Months Ended December 31, 2018 Amount of Gain (Loss) Recognized in OCI on Derivative Amount of Gain (Loss) Reclassified from OCI to Interest Income (Dollars in thousand) Interest rate swap agreements $ (639 ) $ 71 Total derivatives (639 ) 71 Three Months Ended December 31, 2017 Amount of Gain (Loss) Recognized in OCI on Derivative Amount of Gain (Loss) Reclassified from OCI to Interest Expense (Dollars in thousand) Interest rate swap agreements $ 230 $ (13 ) Total derivatives 230 (13 ) The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income for the quarter ended December 31, 2018 and December 31, 2017. Three Months Ended December 31, 2018 Consolidated Statement of Income Amount of Gain (Loss) Recognized in Income on derivatives (Dollars in thousand) Derivatives not designated as a hedging instrument: Interest rate swap agreement Other income $ (1) Total $ (1) Three Months Ended December 31, 2017 Consolidated Statement of Income Amount of Gain (Loss) Recognized in Income on derivatives (Dollars in thousand) Derivatives not designated as a hedging instrument: Interest rate swap agreement $ - Total $ - The Company has agreements with each of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. At December 31, 2018 and September 30, 2018, the fair value of derivatives was in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements. There were no adjustments for nonperformance risk at December 31, 2018 and September 30, 2018.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 10 - Fair Value Measurements The Company follows FASB ASC Topic 820 “Fair Value Measurement,” to record fair value adjustments to certain assets and to determine fair value disclosures for the Company’s financial instruments. Investment and mortgage-backed 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 on a nonrecurring basis, such as impaired loans, real estate owned and certain other assets. These nonrecurring fair value adjustments typically involve application of lower-of-cost-or-market accounting or write-downs of individual assets. The Company groups its assets 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 similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3—Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Company’s own estimates of assumptions that market participants would use in pricing the asset. The Company bases 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. It is our policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements, in accordance with the fair value hierarchy. Fair value measurements for assets where there exists limited or no observable market data and, therefore, are based primarily upon the Company’s or other third-party’s estimates, are often calculated based on the characteristics of the asset, the economic and competitive environment and other factors. Therefore, the results cannot be determined with precision and may not be realized in an actual sale or immediate settlement of the asset. Additionally, there may be inherent weaknesses in any calculation technique, and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results of current or future valuations. The Company monitors and evaluates available data to perform fair value measurements on an ongoing basis and recognizes transfers among the levels of the fair value hierarchy as of the date event or a change in circumstances that affects the valuation method chosen. There were no changes in valuation technique or transfers between levels at December 31, 2018 or September 30, 2018. The tables below present the balances of assets measured at fair value on a recurring basis at December 31, 2018 and September 30, 2018: December 31, 2018 Total Level 1 Level 2 Level 3 (In thousands) Assets: Investment securities available for sale: Debt securities: State and municipal obligations $ 6,933 $ - $ 6,933 $ - Single issuer trust preferred security 872 - 872 - Corporate debt securities 11,176 - 11,176 - Mutual funds 250 - - 250 Total investment securities available for sale $ 19,231 $ - $ 18,981 $ 250 Derivative instruments $ 1,878 $ - $ 1,878 $ - Liabilities: Derivative instruments $ 1,344 $ - $ 1,344 $ - September 30, 2018 Total Level 1 Level 2 Level 3 (In thousands) Assets: Investment securities available for sale: Debt securities: U.S. treasury notes $ 9,986 $ 9,986 $ - $ - State and municipal obligations 6,887 - 6,887 - Single issuer trust preferred security 921 - 921 - Corporate debt securities 6,254 - 6,254 - Mutual funds 250 - - 250 Total investment securities available for sale $ 24,298 $ 9,986 $ 14,062 $ 250 Derivative instruments $ 1,245 $ - $ 1,245 $ - For assets measured at fair value on a nonrecurring basis that were still held at the end of the period, the following tables provide the level of valuation assumptions used to determine each adjustment and the carrying value of the related individual assets or portfolios at December 31, 2018 and September 30, 2018: December 31, 2018 Total Level 1 Level 2 Level 3 (In thousands) Other real estate owned $ 5,796 $ - $ - $ 5,796 Impaired loans (1) 9,486 - - 9,486 Total $ 15,282 $ - $ - $ 15,282 December 31, 2018 Fair Value at December 31, 2018 Valuation Technique Unobservable Input Range/(Weighted Average) (In thousands) Other real estate owned $ 5,796 Appraisal of Collateral(2) Collateral discount(3) 0%/(0%) Impaired loans (1) 9,486 Appraisal of Collateral(2) Collateral discount(3) 8.5%-12%/(9.1%) Total $ 15,282 (1) At December 31, 2018, consisted of nine loans with an aggregate balance of $10.0 million and with $543,000 in specific loan loss allowance. (2) Fair value is generally determined through independent appraisals of the underlying collateral primarily using comparable sales. ( 3 ) Appraisals may be adjusted by management for qualitative factors such as time, changes in economic conditions and estimated liquidation expense. September 30, 2018 Total Level 1 Level 2 Level 3 (In thousands) Impaired loans (1) $ 15,611 $ - $ - $ 15,611 Total $ 15,611 $ - $ - $ 15,611 September 30, 2018 Fair Value at September 30, 2018 Valuation Technique Unobservable Input Range/(Weighted Average) (In thousands) Impaired loans (1) $ 15,611 Appraisal of Collateral (2) Collateral discount (3) 8%-12%/(7.9%) Total $ 15,611 (1) At September 30, 2018, there were twelve loans with an aggregate balance of $17.2 million and with $1.6 million in specific loan loss allowance. (2) Fair value is generally determined through independent appraisals of the underlying collateral primarily using comparable sales. ( 3 ) Appraisals may be adjusted by management for qualitative factors such as time, changes in economic conditions and estimated liquidation expense. At December 31, 2018 and September 30, 2018, the Company did not have any additions to our mortgage servicing assets. At December 31, 2018 and September 30, 2018, the Company only sold loans with servicing released. The following disclosure of the estimated fair value of financial instruments is made in accordance with the requirements of FASB ASC 825. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methods. However, considerable judgment is necessarily required to interpret market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company would realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. FASB ASC 825 excludes certain financial instruments and all non-financial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company . The fair value estimates presented herein are based on pertinent information available to management as of December 31, 2018 and September 30, 2018. Although management is not aware of any factors that would significantly affect the estimated fair value amounts, such amounts have not been comprehensively revalued for purposes of these financial statements since December 31, 2018 and September 30, 2018 and, therefore, current estimates of fair value may differ significantly from the amounts presented herein. The following assumptions were used to estimate the fair value of the Company’s financial instruments: Cash and Cash Equivalents —These assets are carried at historical cost. The carrying amount is a reasonable estimate of fair value because of the relatively short time between the origination of the instrument and its expected realization . Investment Securities —Investment and mortgage-backed securities available for sale (carried at fair value) are measured at fair value on a recurring basis. Fair value measurements for these securities are typically obtained from independent pricing services that we have engaged for this purpose. When available, we, or our independent pricing service, use quoted market prices to measure fair value. If market prices are not available, fair value measurement is based upon models that incorporate available trade, bid and other market information and for structured securities, cash flow and, when available, loan performance data. Because many fixed income securities do not trade on a daily basis, our independent pricing service’s applications apply available information through processes such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing to prepare evaluations. For each asset class, pricing applications and models are based on information from market sources and integrate relevant credit information. All of our securities available for sale are valued using either of the foregoing methodologies to determine fair value adjustments recorded to our financial statements. Loans Receivable —We do not record loans at fair value on a recurring basis. As such, valuation techniques discussed herein for loans are primarily for estimating fair value for FASB ASC 825 disclosure purposes. However, from time to time, we record nonrecurring fair value adjustments to loans to reflect partial write-downs for impairment or the full charge-off of the loan carrying value. The valuation of impaired loans is discussed below. The fair value estimate for FASB ASC 825 purposes differentiates loans based on their financial characteristics, such as product classification, loan category, pricing features and remaining maturity. Prepayment and credit loss estimates are evaluated by loan type and rate. The fair value of loans is estimated by discounting contractual cash flows using discount rates based on current industry pricing, adjusted for prepayment and credit loss estimates. Impaired Loans —Impaired loans are valued utilizing independent appraisals that rely upon quoted market prices for similar assets in active markets. These appraisals include adjustments to comparable assets based on the appraisers’ market knowledge and experience. The appraisals are adjusted downward by management, as necessary, for changes in relevant valuation factors subsequent to the appraisal date and are considered level 3 inputs . Accrued Interest Receivable —This asset is carried at historical cost. The carrying amount is a reasonable estimate of fair value because of the relatively short time between the origination of the instrument and its expected realization . Restricted Stock —Although restricted stock is an equity interest in the FHLB, it is carried at cost because it does not have a readily determinable fair value as its ownership is restricted and it lacks a market. The estimated fair value approximates the carrying amount. Other Real Estate Owned —Assets acquired through foreclosure or deed in lieu of foreclosure are recorded at estimated fair value less estimated selling costs when acquired, thus establishing a new cost basis. Fair value is generally based on independent appraisals. These appraisals include adjustments to comparable assets based on the appraisers’ market knowledge and experience, and are considered level 3 inputs. When an asset is acquired, the excess of the loan balance over fair value, less estimated selling costs, is charged to the allowance for loan losses. If the estimated fair value of the asset declines, a write-down is recorded through expense. The valuation of foreclosed assets is subjective in nature and may be adjusted in the future because of, among other factors, changes in the economic conditions. Deposits —Deposit liabilities are carried at cost. As such, valuation techniques discussed herein for deposits are primarily for estimating fair value for FASB ASC 825 disclosure purposes. The fair value of deposits is discounted based on rates available for borrowings of similar maturities. A decay rate is estimated for non-time deposits. The discount rate for non-time deposits is adjusted for servicing costs based on industry estimates . Borrowings —Advances from the FHLB are carried at amortized cost. However, we are required to estimate the fair value of long-term debt under FASB ASC 825. The fair value is based on the contractual cash flows discounted using rates currently offered for new notes with similar remaining maturities. Subordinated Debt —The calculation of fair value in level 2 is based on observable market values where available. Derivatives — The fair value of derivatives are based on valuation models using observable market data as of the measurement date (level 2). Our derivatives are traded in an over-the-counter market where quoted market prices are not always available. Therefore, the fair values of derivatives are determined using quantitative models that utilize multiple market inputs. The inputs will vary based on the type of derivative, but could include interest rates, prices and indices to generate continuous yield or pricing curves, prepayment rate, and volatility factors to value the position. The majority of market inputs is actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services . Accrued Interest Payable —This liability is carried at historical cost. The carrying amount is a reasonable estimate of fair value because of the relatively short time between the origination of the instrument and its expected realization. Commitments to Extend Credit and Letters of Credit — The majority of the Company’s commitments to extend credit and letters of credit carry current market interest rates if converted to loans and are not included in the table below. Because commitments to extend credit and letters of credit are generally unassignable by either the Bank or the borrower, they only have value to the Company and the borrower. The estimated fair value approximates the recorded deferred fee amounts, which are not significant. Mortgage Servicing Rights —The fair value of mortgage servicing rights is based on observable market prices when available or the present value of expected future cash flows when not available. Assumptions, such as loan default rates, costs to service, and prepayment speeds significantly affect the estimate of future cash flows. Mortgage servicing rights are carried at the lower of cost or fair value . The carrying amount and estimated fair value of the Company’s financial instruments as of December 31, 2018 and September 30, 2018 are presented below: December 31, 2018 Carrying Amount Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 99,876 $ 99,876 $ 99,876 $ - $ - Investment securities available for sale 19,231 19,231 - 18,981 250 Investment securities held to maturity 29,323 28,557 - 28,557 - Loans receivable, net (including impaired loans) 924,639 921,891 - - 921,891 Accrued interest receivable 3,724 3,724 - 3,724 - Restricted stock 9,493 9,493 - 9,493 - Mortgage servicing rights (included in Other Assets) 213 241 - 241 - Derivatives (included in Other Assets) 1,878 1,878 - 1,878 Financial liabilities: Savings accounts 44,438 44,438 - 44,438 - Checking and NOW accounts 300,759 300,759 - 300,759 - Money market accounts 253,436 253,436 - 253,436 - Certificates of deposit 244,567 245,770 - 245,770 - Borrowings (excluding sub debt) 118,000 118,074 - 118,074 - Subordinated debt 24,500 24,500 - 24,500 - Derivatives (included in Other Liabilities) 1,344 1,344 - 1,344 - Accrued interest payable 1,251 1,251 - 1,251 - September 30, 2018 Carrying Amount Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 30,834 $ 30,834 $ 30,834 $ - $ - Investment securities available for sale 24,298 24,298 9,986 14,062 250 Investment securities held to maturity 30,092 28,968 - 28,968 - Loans receivable, net (including impaired loans) 902,136 893,520 - - 893,520 Accrued interest receivable 3,800 3,800 - 3,800 - Restricted stock 8,537 8,537 - 8,537 - Mortgage servicing rights (included in Other Assets) 223 268 - 268 - Derivatives (included in Other Assets) 1,245 1,245 - 1,245 Financial liabilities: Savings accounts 44,642 44,642 - 44,642 - Checking and NOW accounts 225,750 225,750 - 225,750 - Money market accounts 270,834 270,834 - 270,834 - Certificates of deposit 232,937 234,398 - 234,398 - Borrowings (excluding sub debt) 120,500 120,420 - 120,420 - Subordinated debt 24,461 24,461 - 24,461 - Accrued interest payable 784 784 - 784 -

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 11 – Income Taxes In the fiscal first quarter of 2018, the Company revised its estimated annual effective rate to reflect a change in the federal statutory rate from 35% to 21%, resulting from legislation that was enacted on December 22, 2017. The rate change was administratively effective at the beginning of our calendar year, using a blended rate for the annual period. As a result, the blended statutory tax rate for the year was 24.5%. The provisional amount recorded in the first quarter of fiscal 2018 is related to the re-measurement of our deferred tax asset was $2.3 million, and no further adjustments were made. A reconciliation from the expected federal income tax expense computed at the statutory federal income tax rate to the actual income tax expense included in the consolidated statements of income for the three months ended December 31, 2018 and 2017 is as follows: : Three Months Ended December 31, 2018 2017 (In thousands) Tax at statutory rate $ 535 21.0% $ 878 24.5% Increase/(reduction) in taxes resulting from: State tax, net of federal benefit 69 2.7% 170 4.3% Tax-exempt interest (3 ) (0.1)% (11 ) (0.3)% Earnings on bank-owned life insurance (25 ) (1.0)% (30 ) (0.8)% Other (41 ) (1.6)% - -% Subtotal $ 535 21.0% $ 1,007 27.7% Impact of change in tax law $ - -% $ 2,212 61.2% Total $ 535 21.0% $ 3,219 88.9%

Comprehensive Income (Loss)

Comprehensive Income (Loss)	3 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Comprehensive Income (Loss)	Note 12 – Comprehensive Income (Loss) The components of accumulated other comprehensive income included in shareholders’ equity are as follows: December 31, 2018 September 30, 2018 (In thousands) Net unrealized holding losses on available-for-sale securities $ (537 ) $ (506 ) Tax effect 113 106 Net of tax amount (424 ) (400 ) Fair value adjustments on derivatives 535 1,245 Tax effect (112 ) (261 ) Net of tax amount 423 984 Total accumulated other comprehensive (loss) income $ (1 ) $ 584 Other comprehensive income (loss) and related tax effects are presented in the following table: December 31, 2018 2017 (In thousands) Net unrealized holding losses on available-for-sale securities $ (33 ) $ (83 ) Amortization of unrealized holding losses on securites transferred from available-for-sale to held-to-maturity 2 2 Fair value adjustments on derivatives (710 ) 242 Other comprehensive (loss) income before taxes (741 ) 161 Tax effect 156 1 Total comprehensive (loss) income $ (585 ) $ 162

Equity Based Incentive Compensa

Equity Based Incentive Compensation Plan	3 Months Ended
	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity Based Incentive Compensation Plan	Note 13 – Equity Based Incentive Compensation Plan The Company maintains the Malvern Bancorp, Inc. 2014 Long-Term Incentive Compensation Plan (the “2014 Plan”), which permits the grant of long-term incentive and other stock and cash awards. The purpose of the 2014 Plan is to promote the success of the Company and the Bank by providing incentives to officers, employees and directors of the Company and the Bank that will link their personal interests to the financial success of the Company and to growth in shareholder value. The maximum total number of shares of the Company’s common stock available for grants under the 2014 Plan is 400,000. As of December 31, 2018, there were 358,360 remaining shares available for future grants. Restricted stock and option awards granted vest in 20% increments beginning on the one year anniversary of the grant date, and accelerate upon a change in control of the Company. The options generally expire ten years from the date of grant. All issuances are subject to forfeiture if the recipient leaves or is terminated prior to the award’s vesting. Shares of restricted stock have the same dividend and voting rights as common stock while options do not. All awards are issued at fair value of the underlying shares at the grant date. The Company expenses the cost of the awards, which is determined to be the fair market value of the awards at the date of grant. There were no stock options granted d D During the three months ended December 31, 2018 and 2017 a total of 3,238 and 4,768 restricted shares were awarded, respectively. The compensation expense related to restricted stock awards was approximately $13,000 during the three months ended December 31, 2018 and approximately $11,000 during the three months ended December 31, 2017. Stock-based compensation expense for the cost of the awards granted is based on the grant-date fair value. For stock option awards, the fair value is estimated at the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. Additionally, there may be other factors that would otherwise have a significant effect on the value of employee stock options granted but are not considered by the model. Accordingly, while management believes that the Black-Scholes option-pricing model provides a reasonable estimate of fair value, the model does not necessarily provide the best single measure of fair value for the Company’s employee stock options. Stock Options The following is a summary of stock option activity for the three months ended December 31, 2018: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (In Years) Aggregate Intrinsic Value Outstanding, beginning of year 15,996 $ 22.34 $ 41,490 Granted - $ - $ - Exercised - $ - $ - Forfeited/cancelled/expired - $ - $ - Outstanding, end of year 15,996 $ 22.34 8.383 $ 11,130 Exercisable, end of year 3,804 $ 21.35 8.204 $ 4,452 Nonvested, at end of year 12,192 $ 22.65 As of December 31, 2018, there was $78,000 of total unrecognized compensation cost related to nonvested options under the Plan. The cost is expected to be recognized over a weighted average period of 2.01 years. Restricted Stock Awards The table below summarizes the activity for the Company’s restricted stock outstanding during the three months ended December 31, 2018: Shares Weighted Average Fair Value Outstanding, beginning of year 14,340 $ 20.36 Granted 3,238 $ 19.57 Vested - $ - Forfeited/cancelled/expired - $ - Outstanding, end of year 17,578 $ 22.33 As of December 31, 2018, there was $320,000 of total unrecognized compensation cost related to nonvested shares of restricted stock granted under the Plan. The cost is expected to be recognized over a weighted average period of 2.18 years.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of financial statement presentation	Basis of financial statement presentation. The unaudited condensed consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiary, Malvern Bank, National Association and the Bank’s wholly-owned subsidiary, Malvern Insurance Associates, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements present the Company’s financial position at December 31, 2018 and the results of operations for the three-month periods ended December 31, 2018 and 2017, and cash flows for the three-month periods ended December 31, 2018 and 2017. In management’s opinion, the unaudited condensed consolidated financial statements contain all adjustments, which include normal and recurring adjustments, necessary for a fair presentation of the financial position and results of operations as of the dates and for the interim periods presented. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and note disclosures included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on December 14, 2018. The consolidated statement of operations for the three- month periods ended December 31, 2018 and the consolidated statements of cash flows for the three-month periods ended December 31, 2018 are not necessarily indicative of the results of operations or cash flows for the full year ending September 30, 2019 or any other period. There have been no significant changes to our Critical Accounting Policies as described in our 2018 Annual Report on Form 10-K. Recently Issued
Recently Issued Accounting Pronouncements	Financial. Instruments . In June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The ASU requires an organization to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied currently will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Organizations will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. Additionally, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. For public companies, this ASU will be effective for interim and annual periods beginning after December 15, 2019. All entities may adopt the amendments in this Update earlier as of the fiscal year beginning after December 15, 2018, including interim periods within those fiscal years. The Company does not expect to early adopt these changes. The Bank has a software system in place to assist with the calculation of Current Expected Credit Losses (“CECL”). Data is being collected and refined and testing of the various models is in process. The Company is evaluating the impact of this new requirement to the consolidated financial statements. Leases . In February 2016, the FASB issued ASU 2016-02 , Leases (Topic 842) . The update requires lessees to recognize, as of the lease commencement date, assets and liabilities for all such leases with lease terms of more than 12 months, which is a change from the current GAAP requirement to recognize only capital leases on the balance sheet. Pursuant to the new standard, the liability initially recognized for the lease obligation is equal to the present value of the lease payments not yet made, discounted over the lease term at the implicit interest rate of the lease, if available, or otherwise at the lessee’s incremental borrowing rate. The lessee is also required to recognize an asset for its right to use the underlying asset for the lease term, based on the liability subject to certain adjustments, such as for initial direct costs. Leases are required to be classified as either operating or finance, with expense on operating leases recorded as a single lease cost on a straight-line basis. For finance leases, interest expense on the lease liability is required to be recognized separately from the straight-line amortization of the right-of-use asset. Quantitative disclosures are required for certain items, including the cost of leases, the weighted-average remaining lease term, the weighted-average discount rate and a maturity analysis of lease liabilities. Additional qualitative disclosures are also required regarding the nature of the leases, such as basis, terms and conditions of: (i) variable interest payments; (ii) extension and termination options; and (iii) residual value guarantees. For lessors, the standard modifies classification criteria and accounting for sales- type and direct financing leases and requires a lessor to derecognize the carrying value of the leased asset that is considered to have been transferred to a lessee and record a lease receivable and residual asset (“receivable and residual” approach). This Update is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company does not expect to early adopt this standard. The new standard allows for a cumulative effect adjustment in the year of adoption by applying the new guidance as of the beginning of the earliest comparative period presented, using a modified retrospective transition approach with certain optional practical expedients. The Company is in the process of evaluating the impact of this guidance but expects to report higher assets and liabilities as a result of including additional leases on the consolidated statement of financial condition.

Non-Interest Income (Tables)

Non-Interest Income (Tables)	3 Months Ended
	Dec. 31, 2018
Noninterest Income [Abstract]
Schedule of Company's Non-Interest Income	The Company has included the following table regarding the Company’s non-interest income for the periods presented. Three Months Ended December 31, 2018 2017 (Dollars in thousands) Rental income - other $ 67 $ 66 Net gains on sale of real estate - 1,186 Net gains on sale of loans 18 67 Earnings on bank-owned life insurance 121 121 Non-interest income within the scope of other GAAP topics 206 1,440 ATM fees 1 4 Credit card fee income 6 6 DDA fee income 37 36 DDA service fees 19 18 Debit card fees 60 56 Other loan fee income 764 65 Other fee income 52 84 Other non-interest income 1 2 Non-interest income from contracts with customers $ 940 $ 271 Total Non-interest Income $ 1,146 $ 1,711

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Schedule of composition of weighted average shares (denominator) used in earnings per share computations	The following table sets forth the composition of the weighted average shares (denominator) used in the earnings per share computations. Three Months Ended December 31, 2018 2017 (Dollars in thousands, except share and per share data) Net Income $ 2,011 $ 403 Weighted average shares outstanding 7,668,751 6,572,605 Average unearned ESOP shares (112,941 ) (127,341 ) Basic weighted average share outstanding 7,555,810 6,445,264 Plus: effect of potential dilutive common stock equivalents - stock options 159 5,249 Diluted weighted average common shares outstanding 7,555,969 6,450,513 Earnings per common share: Basic $ 0.27 $ 0.06 Diluted $ 0.27 $ 0.06

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Dec. 31, 2018
Investments Debt And Equity Securities [Abstract]
Schedule of Investment securities	The following tables present information related to the Company’s investment securities at December 31, 2018 and September 30, 2018. December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Investment Securities Available-for-Sale: State and municipal obligations $ 6,944 $ 3 $ (14 ) $ 6,933 Single issuer trust preferred security 1,000 - (128 ) 872 Corporate debt securities 11,574 - (398 ) 11,176 Mutual fund 250 - - 250 Total 19,768 3 (540 ) 19,231 Investment Securities Held-to-Maturity: U.S. government agencies $ 2,000 $ - $ (14 ) $ 1,986 State and municipal obligations 8,124 6 (27 ) 8,103 Corporate debt securities 3,689 - (48 ) 3,641 Mortgage-backed securities: Collateralized mortgage obligations (CMO), fixed-rate 15,510 - (683 ) 14,827 29,323 6 (772 ) 28,557 Total investment securities $ 49,091 $ 9 $ (1,312 ) $ 47,788 September 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Investment Securities Available-for-Sale: U.S. treasury notes $ 9,996 $ - $ (10 ) $ 9,986 State and municipal obligations 6,953 - (66 ) 6,887 Single issuer trust preferred security 1,000 - (79 ) 921 Corporate debt securities 6,605 - (351 ) 6,254 Mutual fund 250 - - 250 Total 24,804 - (506 ) 24,298 Investment Securities Held-to-Maturity: U.S. government agencies $ 1,999 $ - $ (20 ) $ 1,979 State and municipal obligations 8,181 - (66 ) 8,115 Corporate debt securities 3,715 - (49 ) 3,666 Mortgage-backed securities: Collateralized mortgage obligations (CMO), fixed-rate 16,197 - (989 ) 15,208 $ 30,092 $ - $ (1,124 ) $ 28,968 Total investment securities $ 54,896 $ - $ (1,630 ) $ 53,266
Schedule of aggregate investments in an unrealized loss position	The following tables indicate gross unrealized losses not recognized in income and fair value, aggregated by investment category and the length of time individual securities have been in a continuous unrealized loss position at December 31, 2018 and September 30, 2018: December 31, 2018 Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Investment Securities Available for Sale: State and municipal obligations $ 1,635 $ (3 ) $ 2,791 $ (11 ) $ 4,426 $ (14 ) Single issuer trust preferred security - - 872 (128 ) 872 (128 ) Corporate debt securities 4,950 (25 ) 6,226 (373 ) 11,176 (398 ) Total $ 6,585 $ (28 ) $ 9,889 $ (512 ) $ 16,474 $ (540 ) Investment Securities Held-to-Maturity: U.S. government agencies $ - $ - $ 1,986 $ (14 ) $ 1,986 $ (14 ) State and municipal obligations 1,860 (1 ) 5,077 (26 ) 6,937 (27 ) Corporate debt securities 3,641 (48 ) - - 3,641 (48 ) Mortgage-backed securities: CMO, fixed-rate - - 14,827 (683 ) 14,827 (683 ) Total $ 5,501 $ (49 ) $ 21,890 $ (723 ) $ 27,391 $ (772 ) Total investment securities $ 12,086 $ (77 ) $ 31,779 $ (1,235 ) $ 43,865 $ (1,312 ) September 30, 2018 Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Investment Securities Available for Sale: U.S. treasury and notes $ 9,986 $ (10 ) $ - $ - $ 9,986 $ (10 ) State and municipal obligations 5,433 (56 ) 1,000 (10 ) 6,433 (66 ) Single issuer trust preferred security - - 921 (79 ) 921 (79 ) Corporate debt securities - - 6,254 (351 ) 6,254 (351 ) Total $ 15,419 $ (66 ) $ 8,175 $ (440 ) $ 23,594 $ (506 ) Investment Securities Held-to-Maturity: U.S. government agencies $ - $ - $ 1,979 $ (20 ) $ 1,979 $ (20 ) State and municipal obligations 8,115 (66 ) - - 8,115 (66 ) Corporate debt securities 3,666 (49 ) - - 3,666 (49 ) Mortgage-backed securities: CMO, fixed-rate 127 (6 ) 15,081 (983 ) 15,208 (989 ) Total 11,908 (121 ) 17,060 (1,003 ) 28,968 (1,124 ) Total investment securities $ 27,327 $ (187 ) $ 25,235 $ (1,443 ) $ 52,562 $ (1,630 )
Schedule of amortized cost and fair value of debt securities by contractual maturity	The following table presents information for investment securities at December 31, 2018, based on scheduled maturities. Actual maturities can be expected to differ from scheduled maturities due to prepayment or early call options of the issuer. Amortized Cost Fair Value (In thousands) Available-for-Sale: Within 1 year $ 1,003 $ 1,000 Over 1 year through five years 8,337 8,170 After 5 years through ten years 9,973 9,606 Over 10 years 455 455 Total $ 19,768 $ 19,231 Held-to-Maturity: Within 1 year 2,000 1,986 After 5 years through ten years 5,542 5,491 Over 10 years 6,271 6,253 Mortgage-backed securities: Collaterized mortgage obligations, fixed-rate 15,510 14,827 Total $ 29,323 $ 28,557 Total investment securities $ 49,091 $ 47,788

Loans Receivable and Related _2

Loans Receivable and Related Allowance for Loan Losses (Tables)	3 Months Ended
	Dec. 31, 2018
Receivables [Abstract]
Schedule of loans receivable	Loans receivable in the Company’s portfolio consisted of the following at the dates indicated below: December 31, 2018 September 30, 2018 Residential mortgage $ 202,306 $ 197,219 Construction and Development: Residential and commercial 41,140 37,433 Land 7,180 9,221 Total Construction and Development 48,320 46,654 Commercial: Commercial real estate 508,448 493,929 Farmland 12,054 12,066 Multi-family 44,989 45,102 Other 84,236 80,059 Total Commercial 649,727 631,156 Consumer: Home equity lines of credit 14,484 14,884 Second mortgages 16,674 18,363 Other 1,915 2,315 Total Consumer 33,073 35,562 Total loans 933,426 910,591 Deferred loan fees and costs, net 460 566 Allowance for loan losses (9,247 ) (9,021 ) Total loans receivable, net $ 924,639 $ 902,136
Schedule of allowance for loan losses	The following tables summarize the primary classes of the allowance for loan losses (“ALLL”), 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, 2018 and September 30, 2018. Activity in the allowance is presented for the three months ended December 31, 2018 and 2017 and the year ended September 30, 2018, respectively. Construction and Development Commercial Consumer Residential Mortgage Residential and Commercial Land Commercial Real Estate Farmland Multi- Family Other Home Equity Lines of Credit Second Mortgages Other Unallocated Total Allowance for loan losses: (Dollars in thousands) Three Months Ended December 31, 2018 Beginning Balance $ 1,062 $ 393 $ 49 $ 5,031 $ 66 $ 232 $ 467 $ 82 $ 326 $ 51 $ 1,262 $ 9,021 Charge-offs (17 ) - - (1,223 ) - - - - - (1 ) - (1,241 ) Recoveries - - - 3 - - 2 - 8 1 - 14 Provisions 119 46 (4 ) 1,533 (2 ) 42 (7 ) (3 ) 57 (7 ) (321 ) 1,453 Ending balance $ 1,164 $ 439 $ 45 $ 5,344 $ 64 $ 274 $ 462 $ 79 $ 391 $ 44 $ 941 $ 9,247 Ending balance: individually evaluated for impairment $ - $ - $ - $ 338 $ - $ - $ - $ - $ 179 $ 26 $ - $ 543 Ending balance: collectively evaluted for impairment $ 1,164 $ 439 $ 45 $ 5,006 $ 64 $ 274 $ 462 $ 79 $ 212 $ 18 $ 941 $ 8,704 Loans receivable: Ending balance $ 202,306 $ 41,140 $ 7,180 $ 508,448 $ 12,054 $ 44,989 $ 84,236 $ 14,484 $ 16,674 $ 1,915 $ 933,426 Ending balance: individually evaluated for impairment $ 3,627 $ - $ 72 $ 10,349 $ - $ - $ - $ 34 $ 619 $ 26 $ 14,727 Ending balance: collectively evaluated for impairment $ 198,679 $ 41,140 $ 7,108 $ 498,099 $ 12,054 $ 44,989 $ 84,236 $ 14,450 $ 16,055 $ 1,889 $ 918,699 Construction and Development Commercial Consumer Residential Mortgage Residential and Commercial Land Commercial Real Estate Farmland Multi- Family Other Home Equity Lines of Credit Second Mortgages Other Unallocated Total Allowance for loan losses: (Dollars in thousands) Three Months Ended December 31, 2017 Beginning Balance $ 1,004 $ 523 $ 132 $ 3,581 $ 9 $ 224 $ 541 $ 90 $ 402 $ 27 $ 1,872 $ 8,405 Charge-offs - - - - - - - - - (2 ) - (2 ) Recoveries 2 - - 9 - - 1 1 19 2 - 34 Provisions 23 9 (2 ) 670 3 (24 ) (93 ) 3 42 3 (634 ) - Ending balance $ 1,029 $ 532 $ 130 $ 4,260 $ 12 $ 200 $ 449 $ 94 $ 463 $ 30 $ 1,238 $ 8,437 Ending balance: individually evaluated for impairment $ - $ - $ - $ 156 $ - $ - $ - $ - $ 156 $ 1 $ - $ 313 Ending balance: collectively evaluted for impairment $ 1,029 $ 532 $ 130 $ 4,104 $ 12 $ 200 $ 449 $ 94 $ 307 $ 29 $ 1,238 $ 8,124 Loans receivable: Ending balance $ 186,831 $ 34,627 $ 18,599 $ 427,610 $ 1,711 $ 32,716 $ 71,933 $ 16,811 $ 21,304 $ 2,435 $ 814,577 Ending balance: individually evaluated for impairment $ 2,438 $ - $ 89 $ 1,347 $ - $ - $ 239 $ 10 $ 578 $ 1 $ 4,702 Ending balance: collectively evaluated for impairment $ 184,393 $ 34,627 $ 18,510 $ 426,263 $ 1,711 $ 32,716 $ 71,694 $ 16,801 $ 20,726 $ 2,434 $ 809,875
Schedule of impaired loans	The following table presents impaired loans in portfolio by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary as of December 31, 2018 and September 30, 2018. Impaired Loans with Specific Allowance Impaired Loans with No Specific Allowance Total Impaired Loans Recorded Investment Related Allowance Recorded Investment Recorded Investment Unpaid Principal Balance (In thousands) December 31, 2018 Residential mortgage $ - $ - $ 3,627 $ 3,627 $ 3,782 Construction and Development: Land - - 72 72 72 Commercial: Commercial real estate 9,807 338 542 10,349 10,626 Consumer: Home equity lines of credit - - 34 34 35 Second mortgages 196 179 423 619 671 Other 26 26 - 26 26 Total impaired loans $ 10,029 $ 543 $ 4,698 $ 14,727 $ 15,212 September 30, 2018 Residential mortgage $ - $ - $ 3,148 $ 3,148 $ 3,337 Construction and Development: Land - - 76 76 76 Commercial: Commercial real estate 16,343 1,448 1,066 17,409 17,685 Consumer: Home equity lines of credit - - 34 34 34 Second mortgages 120 103 515 635 730 Other 26 26 - 26 26 Total impaired loans $ 16,489 $ 1,577 $ 4,839 $ 21,328 $ 21,888
Schedule of average recorded investment in impaired loans and related interest income recognized	The following table presents the average recorded investment in impaired loans in portfolio and related interest income recognized for the three months ended December 31, 2018 and 2017. Three Months Ended December 31, 2018 Average Impaired Loans Interest Income Recognized on Impaired Loans (in thousands) Residential mortgage $ 3,563 $ 27 Construction and Development: Land 73 1 Commercial: Commercial real estate 15,017 76 Consumer: Home equity lines of credit 45 - Second mortgages 625 2 Other 26 - Total $ 19,349 $ 106 Three Months Ended December 31, 2017 Average Impaired Loans Interest Income Recognized on Impaired Loans (in thousands) Residential mortgage $ 2,390 $ 12 Construction and Development: Land 91 1 Commercial: Commercial real estate 820 6 Other 241 3 Consumer: Home equity lines of credit 10 - Second mortgages 495 2 Other 1 - Total $ 4,048 $ 24
Schedule of classes of loan portfolio	The following table presents the classes of the loan portfolio summarized by loans considered to be rated as pass and the categories of special mention, substandard and doubtful within the Company’s internal risk rating system as of December 31, 2018 and September 30, 2018. Pass Special Mention Substandard Doubtful Total (In thousands) December 31, 2018: Residential mortgage $ 197,816 $ - $ 4,490 $ - $ 202,306 Construction and Development: Residential and commercial 41,140 - - - 41,140 Land 7,108 - 72 - 7,180 Commercial: Commercial real estate 495,225 1,549 11,674 - 508,448 Farmland 12,054 - - - 12,054 Multi-family 44,989 - - - 44,989 Other 84,086 - 150 - 84,236 Consumer: Home equity lines of credit 14,353 - 131 - 14,484 Second mortgages 15,700 101 873 - 16,674 Other 1,888 - 27 - 1,915 Total $ 914,359 $ 1,650 $ 17,417 $ - $ 933,426 Pass Special Mention Substandard Doubtful Total (In thousands) September 30, 2018: Residential mortgage $ 193,584 $ - $ 3,635 $ - $ 197,219 Construction and Development: Residential and commercial 37,433 - - - 37,433 Land 9,146 - 75 - 9,221 Commercial: Commercial real estate 474,232 949 18,748 - 493,929 Farmland 12,066 - - - 12,066 Multi-family 45,102 - - - 45,102 Other 79,902 - 157 - 80,059 Consumer: Home equity lines of credit 14,707 - 177 - 14,884 Second mortgages 17,402 103 858 - 18,363 Other 2,289 - 26 - 2,315 Total $ 885,863 $ 1,052 $ 23,676 $ - $ 910,591
Schedule of loans that are no longer accruing interest by portfolio class	The following table presents loans that are no longer accruing interest by portfolio class. December 31, 2018 September 30, 2018 (In thousands) Non-accrual loans: Residential mortgage $ 1,783 $ 1,817 Commercial: Commercial real estate 520 520 Consumer: Home equity lines of credit 34 34 Second mortgages 199 290 Other 26 26 Total non-accrual loans $ 2,562 $ 2,687
Schedule of classes of loan portfolio summarized by aging categories	The following table presents the classes of the loan portfolio summarized by the aging categories as of December 31, 2018 and September 30, 2018. Current 30-59 Days Past Due 60-89 Days Past Due 90 Days and More Past Due Total Past Due Total Loans Receivable Loans Receivable > 90 Days and Accruing (In thousands) December 31, 2018: Residential mortgage $ 197,767 $ 2,334 $ 1,069 $ 1,137 4,540 $ 202,306 $ 719 Construction and Development: Residential and commercial 41,140 - - - - 41,140 - Land 7,180 - - - - 7,180 - Commercial: Commercial real estate 506,980 948 - 520 1,468 508,448 - Farmland 12,054 - - - - 12,054 - Multi-family 44,989 - - - - 44,989 - Other 84,236 - - - - 84,236 - Consumer: Home equity lines of credit 14,284 69 97 34 200 14,484 - Second mortgages 16,327 187 25 135 347 16,674 39 Other 1,886 2 - 26 28 1,915 1 Total $ 926,843 $ 3,540 $ 1,191 $ 1,852 $ 6,583 $ 933,426 $ 759 Current 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Total Loans Receivable Loans Receivable > 90 Days and Accruing (In thousands) September 30, 2018: Residential mortgage $ 193,727 $ 450 $ 1,016 $ 2,026 $ 3,492 $ 197,219 $ 339 Construction and Development: Residential and commercial 37,433 - - - - 37,433 - Land 9,221 - - - - 9,221 - Commercial: Commercial real estate 485,886 449 7,019 575 8,043 493,929 - Farmland 12,066 - - - - 12,066 Multi-family 45,102 - - - - 45,102 - Other 80,059 - - - - 80,059 - Consumer: Home equity lines of credit 14,815 - - 69 69 14,884 35 Second mortgages 17,928 121 103 211 434 18,363 - Other 2,282 7 1 25 33 2,315 - Total $ 898,519 $ 1,027 $ 8,139 $ 2,906 $ 12,072 $ 910,591 $ 374
Schedule of TDR loans	For any residential real estate property collateralizing a consumer mortgage loan, the Company is considered to possess the related collateral only if legal title is obtained upon completion of foreclosure, or the borrower conveys all interest in the residential real estate property to the Company through completion of a deed in lieu of foreclosure or similar legal agreement. Excluding OREO, the Company had $2.1 million and $1.4 million Total Troubled Debt Restructurings Troubled Debt Restructured Loans That Have Defaulted on Modified Terms Within The Past 12 Months Number of Loans Recorded Investment Number of Loans Recorded Investment (Dollars in thousands) At December 31, 2018: Residential mortgage 14 $ 2,537 4 $ 500 Construction and Development: Land 1 72 - - Commercial: Commercial real estate 3 9,830 - - Consumer: Second mortgages 4 225 - - Total 22 $ 12,664 $ 4 $ 500 At September 30, 2018: Residential mortgage 10 $ 1,816 3 $ 289 Construction and Development: Land 1 76 - - Commercial: Commercial real estate 4 16,889 - - Consumer: Second mortgages 3 148 - - Total 18 $ 18,929 3 $ 289
Schedule of performing status of TDR loans	The following table reports the performing status of all TDR loans. The performing status is determined by the loans compliance with the modified terms. December 31, 2018 September 30, 2018 Performing Non-Performing Performing Non-Performing (In thousands) Residential mortgage $ 2,037 $ 500 $ 1,527 $ 289 Construction and Development: Land 72 - 76 - Commercial: Commercial real estate 9,830 - 16,889 - Consumer: Second mortgages 225 - 148 - Total $ 12,164 $ 500 $ 18,640 $ 289
Schedule of new TDR's	The following table shows the new TDRs for the three months ended December 31, 2018 and 2017. For the Three Months Ended December 31, 2018 2017 Number of Contracts Pre- Modifications Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Contracts Pre- Modifications Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment (Dollars in thousands) Troubled Debt Restructurings: Residential mortgage 4 $ 732 $ 726 - $ - $ - Consumer: Second mortgages 1 $ 80 $ 79 - $ - $ - Total troubled debt restructurings 5 $ 812 $ 805 - $ - $ -

Regulatory Matters (Tables)

Regulatory Matters (Tables)	3 Months Ended
	Dec. 31, 2018
Banking And Thrift [Abstract]
Schedule of actual capital amounts and ratios	The following table summarizes the Company’s compliance with applicable regulatory capital requirements as of December 31, 2018 and September 30, 2018: Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2018 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 135,679 12.55 % $ 43,246 4.00 % $ 54,058 5.00 % Common Equity Tier 1 Capital (to risk weighted assets) 135,679 14.61 % 41,793 4.50 % 60,368 6.50 % Tier 1 Capital (to risk weighted assets) 135,679 14.61 % 55,724 6.00 % 74,299 8.00 % Total Risk Based Capital (to risk weighted assets) 169,494 18.25 % 74,299 8.00 % 92,874 10.00 % As of September 30, 2018 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 110,239 10.63 % $ 41,491 4.00 % $ 51,864 5.00 % Common Equity Tier 1 Capital (to risk weighted assets) 110,239 12.62 % 39,322 4.50 % 56,799 6.50 % Tier 1 Capital (to risk weighted assets) 110,239 12.62 % 52,430 6.00 % 69,906 8.00 % Total Risk Based Capital (to risk weighted assets) 143,787 16.45 % 69,906 8.00 % 87,383 10.00 % The following table summarizes the Bank’s compliance with applicable regulatory capital requirements as of December 31, 2018 and September 30, 2018 : Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2018 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 144,216 13.35 % $ 43,219 4.00 % $ 54,024 5.00 % Common Equity Tier 1 Capital (to risk weighted assets) 144,216 15.54 % 41,752 4.50 % 60,308 6.50 % Tier 1 Capital (to risk weighted assets) 144,216 15.54 % 55,670 6.00 % 74,225 8.00 % Total Risk Based Capital (to risk weighted assets) 153,530 16.55 % 74,225 8.00 % 92,782 10.00 % As of September 30, 2018 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 131,746 12.71 % $ 41,450 4.00 % $ 51,812 5.00 % Common Equity Tier 1 Capital (to risk weighted assets) 131,746 15.09 % 39,293 4.50 % 56,756 6.50 % Tier 1 Capital (to risk weighted assets) 131,746 15.09 % 52,390 6.00 % 69,853 8.00 % Total Risk Based Capital (to risk weighted assets) 140,833 16.13 % 69,853 8.00 % 87,317 10.00 %

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Dec. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of effects of derivative instruments on the Consolidated Financial Statements	The tables below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition as of December 31, 2018 and September 30, 2018: ` December 31, 2018 Asset derivatives Liability derivatives Notional Amount Fair Value Balance Sheet Location Notional Amount Fair Value Balance Sheet Location (Dollars in thousand) Derivatives designated as a hedging instrument: Interest rate swap agreement $ 35,000 $ 739 Other assets $ 30,000 $ 204 Other liabilities Derivatives not designated as a hedging instrument: Interest rate swap agreement $ 25,350 $ 1,139 Other assets $ 25,350 $ 1,140 Other liabilities September 30, 2018 Asset derivatives Liability derivatives Notional Amount Fair Value Balance Sheet Location Notional Amount Fair Value Balance Sheet Location (Dollars in thousand) Derivatives designated as a hedging instrument: Interest rate swap agreement $ 65,000 $ 1,245 Other assets $ - $ -
Schedule of net gains (losses) recorded in accumulated other comprehensive income and the Consolidate Statements of Income	The tables below presents the net gains (losses) recorded in accumulated other comprehensive income and the Consolidated Statements of Income relating to the cash flow derivative instruments for the three months ended December 31, 2018 and 2017. Three Months Ended December 31, 2018 Amount of Gain (Loss) Recognized in OCI on Derivative Amount of Gain (Loss) Reclassified from OCI to Interest Income (Dollars in thousand) Interest rate swap agreements $ (639 ) $ 71 Total derivatives (639 ) 71 Three Months Ended December 31, 2017 Amount of Gain (Loss) Recognized in OCI on Derivative Amount of Gain (Loss) Reclassified from OCI to Interest Expense (Dollars in thousand) Interest rate swap agreements $ 230 $ (13 ) Total derivatives 230 (13 )
Schedule of effects of derivative instruments on Consolidated Statements of Income	The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income for the quarter ended December 31, 2018 and December 31, 2017. Three Months Ended December 31, 2018 Consolidated Statement of Income Amount of Gain (Loss) Recognized in Income on derivatives (Dollars in thousand) Derivatives not designated as a hedging instrument: Interest rate swap agreement Other income $ (1) Total $ (1) Three Months Ended December 31, 2017 Consolidated Statement of Income Amount of Gain (Loss) Recognized in Income on derivatives (Dollars in thousand) Derivatives not designated as a hedging instrument: Interest rate swap agreement $ - Total $ -

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of balances of assets measured at fair value on a recurring basis	The tables below present the balances of assets measured at fair value on a recurring basis at December 31, 2018 and September 30, 2018: December 31, 2018 Total Level 1 Level 2 Level 3 (In thousands) Assets: Investment securities available for sale: Debt securities: State and municipal obligations $ 6,933 $ - $ 6,933 $ - Single issuer trust preferred security 872 - 872 - Corporate debt securities 11,176 - 11,176 - Mutual funds 250 - - 250 Total investment securities available for sale $ 19,231 $ - $ 18,981 $ 250 Derivative instruments $ 1,878 $ - $ 1,878 $ - Liabilities: Derivative instruments $ 1,344 $ - $ 1,344 $ - September 30, 2018 Total Level 1 Level 2 Level 3 (In thousands) Assets: Investment securities available for sale: Debt securities: U.S. treasury notes $ 9,986 $ 9,986 $ - $ - State and municipal obligations 6,887 - 6,887 - Single issuer trust preferred security 921 - 921 - Corporate debt securities 6,254 - 6,254 - Mutual funds 250 - - 250 Total investment securities available for sale $ 24,298 $ 9,986 $ 14,062 $ 250 Derivative instruments $ 1,245 $ - $ 1,245 $ -
Schedule of assets measured at fair value on a non recurring basis	For assets measured at fair value on a nonrecurring basis that were still held at the end of the period, the following tables provide the level of valuation assumptions used to determine each adjustment and the carrying value of the related individual assets or portfolios at December 31, 2018 and September 30, 2018: December 31, 2018 Total Level 1 Level 2 Level 3 (In thousands) Other real estate owned $ 5,796 $ - $ - $ 5,796 Impaired loans (1) 9,486 - - 9,486 Total $ 15,282 $ - $ - $ 15,282 December 31, 2018 Fair Value at December 31, 2018 Valuation Technique Unobservable Input Range/(Weighted Average) (In thousands) Other real estate owned $ 5,796 Appraisal of Collateral(2) Collateral discount(3) 0%/(0%) Impaired loans (1) 9,486 Appraisal of Collateral(2) Collateral discount(3) 8.5%-12%/(9.1%) Total $ 15,282 (1) At December 31, 2018, consisted of nine loans with an aggregate balance of $10.0 million and with $543,000 in specific loan loss allowance. (2) Fair value is generally determined through independent appraisals of the underlying collateral primarily using comparable sales. ( 3 ) Appraisals may be adjusted by management for qualitative factors such as time, changes in economic conditions and estimated liquidation expense. September 30, 2018 Total Level 1 Level 2 Level 3 (In thousands) Impaired loans (1) $ 15,611 $ - $ - $ 15,611 Total $ 15,611 $ - $ - $ 15,611 September 30, 2018 Fair Value at September 30, 2018 Valuation Technique Unobservable Input Range/(Weighted Average) (In thousands) Impaired loans (1) $ 15,611 Appraisal of Collateral (2) Collateral discount (3) 8%-12%/(7.9%) Total $ 15,611 (1) At September 30, 2018, there were twelve loans with an aggregate balance of $17.2 million and with $1.6 million in specific loan loss allowance. (2) Fair value is generally determined through independent appraisals of the underlying collateral primarily using comparable sales. ( 3 ) Appraisals may be adjusted by management for qualitative factors such as time, changes in economic conditions and estimated liquidation expense.
Schedule of carrying amount and estimated fair value of the Company's financial instruments	The carrying amount and estimated fair value of the Company’s financial instruments as of December 31, 2018 and September 30, 2018 are presented below: December 31, 2018 Carrying Amount Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 99,876 $ 99,876 $ 99,876 $ - $ - Investment securities available for sale 19,231 19,231 - 18,981 250 Investment securities held to maturity 29,323 28,557 - 28,557 - Loans receivable, net (including impaired loans) 924,639 921,891 - - 921,891 Accrued interest receivable 3,724 3,724 - 3,724 - Restricted stock 9,493 9,493 - 9,493 - Mortgage servicing rights (included in Other Assets) 213 241 - 241 - Derivatives (included in Other Assets) 1,878 1,878 - 1,878 Financial liabilities: Savings accounts 44,438 44,438 - 44,438 - Checking and NOW accounts 300,759 300,759 - 300,759 - Money market accounts 253,436 253,436 - 253,436 - Certificates of deposit 244,567 245,770 - 245,770 - Borrowings (excluding sub debt) 118,000 118,074 - 118,074 - Subordinated debt 24,500 24,500 - 24,500 - Derivatives (included in Other Liabilities) 1,344 1,344 - 1,344 - Accrued interest payable 1,251 1,251 - 1,251 - September 30, 2018 Carrying Amount Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 30,834 $ 30,834 $ 30,834 $ - $ - Investment securities available for sale 24,298 24,298 9,986 14,062 250 Investment securities held to maturity 30,092 28,968 - 28,968 - Loans receivable, net (including impaired loans) 902,136 893,520 - - 893,520 Accrued interest receivable 3,800 3,800 - 3,800 - Restricted stock 8,537 8,537 - 8,537 - Mortgage servicing rights (included in Other Assets) 223 268 - 268 - Derivatives (included in Other Assets) 1,245 1,245 - 1,245 Financial liabilities: Savings accounts 44,642 44,642 - 44,642 - Checking and NOW accounts 225,750 225,750 - 225,750 - Money market accounts 270,834 270,834 - 270,834 - Certificates of deposit 232,937 234,398 - 234,398 - Borrowings (excluding sub debt) 120,500 120,420 - 120,420 - Subordinated debt 24,461 24,461 - 24,461 - Accrued interest payable 784 784 - 784 -

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of statutory federal income tax rate to the actual income tax expense	A reconciliation from the expected federal income tax expense computed at the statutory federal income tax rate to the actual income tax expense included in the consolidated statements of income for the three months ended December 31, 2018 and 2017 is as follows: : Three Months Ended December 31, 2018 2017 (In thousands) Tax at statutory rate $ 535 21.0% $ 878 24.5% Increase/(reduction) in taxes resulting from: State tax, net of federal benefit 69 2.7% 170 4.3% Tax-exempt interest (3 ) (0.1)% (11 ) (0.3)% Earnings on bank-owned life insurance (25 ) (1.0)% (30 ) (0.8)% Other (41 ) (1.6)% - -% Subtotal $ 535 21.0% $ 1,007 27.7% Impact of change in tax law $ - -% $ 2,212 61.2% Total $ 535 21.0% $ 3,219 88.9%

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	3 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Schedule of components of accumulated other comprehensive income (loss)	The components of accumulated other comprehensive income included in shareholders’ equity are as follows: December 31, 2018 September 30, 2018 (In thousands) Net unrealized holding losses on available-for-sale securities $ (537 ) $ (506 ) Tax effect 113 106 Net of tax amount (424 ) (400 ) Fair value adjustments on derivatives 535 1,245 Tax effect (112 ) (261 ) Net of tax amount 423 984 Total accumulated other comprehensive (loss) income $ (1 ) $ 584
Schedule of other comprehensive income and related tax effects	Other comprehensive income (loss) and related tax effects are presented in the following table: December 31, 2018 2017 (In thousands) Net unrealized holding losses on available-for-sale securities $ (33 ) $ (83 ) Amortization of unrealized holding losses on securites transferred from available-for-sale to held-to-maturity 2 2 Fair value adjustments on derivatives (710 ) 242 Other comprehensive (loss) income before taxes (741 ) 161 Tax effect 156 1 Total comprehensive (loss) income $ (585 ) $ 162

Equity Based Incentive Compen_2

Equity Based Incentive Compensation Plan (Tables)	3 Months Ended
	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of stock option activity	The following is a summary of stock option activity for the three months ended December 31, 2018: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (In Years) Aggregate Intrinsic Value Outstanding, beginning of year 15,996 $ 22.34 $ 41,490 Granted - $ - $ - Exercised - $ - $ - Forfeited/cancelled/expired - $ - $ - Outstanding, end of year 15,996 $ 22.34 8.383 $ 11,130 Exercisable, end of year 3,804 $ 21.35 8.204 $ 4,452 Nonvested, at end of year 12,192 $ 22.65
Schedule of restricted stock outstanding	The table below summarizes the activity for the Company’s restricted stock outstanding during the three months ended December 31, 2018: Shares Weighted Average Fair Value Outstanding, beginning of year 14,340 $ 20.36 Granted 3,238 $ 19.57 Vested - $ - Forfeited/cancelled/expired - $ - Outstanding, end of year 17,578 $ 22.33

The Company (Narrative) (Detail

The Company (Narrative) (Detail) - USD ($) $ in Thousands	Oct. 09, 2018	Dec. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Gross proceeds of common stock	$ 25,000
Net proceeds of common stock	$ 23,300	$ 23,344

Non-Interest Income - Schedule

Non-Interest Income - Schedule of Company's Non-Interest Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Rental income - other	$ 67	$ 66
Net gains on sale of real estate		1,186
Net gains on sale of loans	18	67
Earnings on bank-owned life insurance	121	121
Non-interest income within the scope of other GAAP topics	206	1,440
Non-interest income from contracts with customers	940	271
Total Other Income	1,146	1,711
ATM Fees [Member]
Non-interest income from contracts with customers	1	4
Credit Card Fee Income [Member]
Non-interest income from contracts with customers	6	6
DDA Fee Income [Member]
Non-interest income from contracts with customers	37	36
DDA Service Fees [Member]
Non-interest income from contracts with customers	19	18
Debit Card Fees [Member]
Non-interest income from contracts with customers	60	56
Other Loan Fee Income [Member]
Non-interest income from contracts with customers	764	65
Other Fee Income [Member]
Non-interest income from contracts with customers	52	84
Other Non-interest Income [Member]
Non-interest income from contracts with customers	$ 1	$ 2

Non-Interest Income (Narrative)

Non-Interest Income (Narrative) (Detail) $ in Thousands	3 Months Ended
	Dec. 31, 2018USD ($)
Noninterest Income [Abstract]
Recognition of swap fees	$ 708,000

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Detail)	3 Months Ended
	Dec. 31, 2018shares
Earnings Per Share [Abstract]
Restricted shares issued	3,238
Stock options	0

Earnings Per Share (Detail)

Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Net Income	$ 2,011	$ 403
Weighted average shares outstanding	7,668,751	6,572,605
Average unearned ESOP shares	(112,941)	(127,341)
Basic weighted average share outstanding	7,555,810	6,445,264
Plus: effect of potential dilutive common stock equivalents - stock options	159	5,249
Diluted weighted average common shares outstanding	7,555,969	6,450,513
Earnings Per Common Share:
Basic	$ 0.27	$ 0.06
Diluted	$ 0.27	$ 0.06

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Narrative) (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		4 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2008
Employee Stock Ownership Plan (ESOP), Shares In ESOP [Abstract]
Employee stock ownership plan (ESOP), shares purchased			241,178
Employee stock ownership plan (ESOP), amount borrowed			$ 2.6
Average price of shares purchased (in dollars per share)			$ 10.86
Employee stock ownership plan (ESOP), debt structure, direct loan, description	The loan, which bears an interest rate of 5%, is being repaid in quarterly installments through 2026
Committed to be released ESOP shares	3,600	3,600
Number of unallocated shares	111,165
Number of allocated shares held by the ESOP	148,053
Aggregate fair value of shares held by the ESOP	$ 2.2

Investment Securities (Detail)

Investment Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Schedule of available-for-sale securities and cost-method investments [Line Items]
Amortized Cost	$ 19,768	$ 24,804
Gross Unrealized Gains	3
Gross Unrealized Losses	(540)	(506)
Fair value	19,231	24,298
Amortized Cost	29,323	30,092
Gross Unrealized Gains	6
Gross Unrealized Losses	(772)	(1,124)
Fair value	28,557	28,968
Total investment securities Amortized Cost	49,091	54,896
Total investment securities Gross Unrealized Gains	9
Total investment securities Gross Unrealized Losses	(1,312)	(1,630)
Total investment securities Fair Value	47,788	53,266
State And Municipal Obligations [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Amortized Cost	6,944	6,953
Gross Unrealized Gains	3
Gross Unrealized Losses	(14)	(66)
Fair value	6,933	6,887
Amortized Cost	8,124	8,181
Gross Unrealized Gains	6
Gross Unrealized Losses	(27)	(66)
Fair value	8,103	8,115
Single Issuer Trust Preferred Security [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Amortized Cost	1,000	1,000
Gross Unrealized Losses	(128)	(79)
Fair value	872	921
Corporate Debt Securities [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Amortized Cost	11,574	6,605
Gross Unrealized Losses	(398)	(351)
Fair value	11,176	6,254
Amortized Cost	3,689	3,715
Gross Unrealized Losses	(48)	(49)
Fair value	3,641	3,666
Mutual Fund [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Amortized Cost	250	250
Fair value	250	250
U. S. Government Agencies [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Amortized Cost		9,996
Gross Unrealized Losses		(10)
Fair value		9,986
Amortized Cost	2,000	1,999
Gross Unrealized Losses	(14)	(20)
Fair value	1,986	1,979
Collateralized Mortgage Obligations [Member] | Fixed Rate [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Amortized Cost	15,510	16,197
Gross Unrealized Losses	(683)	(989)
Fair value	$ 14,827	$ 15,208

Investment Securities - (Narrat

Investment Securities - (Narrative) (Detail)	3 Months Ended
	Dec. 31, 2018USD ($)Investment	Dec. 31, 2017USD ($)	Sep. 30, 2018USD ($)
Marketable Securities [Line Items]
Proceeds from sale of securities available for sale | $	$ 25,000,000	$ 0
Gain loss on sale of securities available for sale | $	0
Fair value of available for sale securities transferred | $	7,500,000		$ 17,900,000
Fair value of available for sale securities short-term borrowings transferred | $	$ 0		$ 3,100,000
U. S. Government Agencies [Member]
Marketable Securities [Line Items]
Number of portfolio investments	2
Municipal Bonds [Member]
Marketable Securities [Line Items]
Number of portfolio investments	13
Corporate Debt Securities [Member]
Marketable Securities [Line Items]
Number of portfolio investments	5
Mortgage-Backed Securities [Member]
Marketable Securities [Line Items]
Number of portfolio investments	37
Single Issuer Trust Preferred Security [Member]
Marketable Securities [Line Items]
Number of portfolio investments	1

Investment Securities - Gross U

Investment Securities - Gross Unrealized Loss (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Schedule of available-for-sale securities and cost-method investments [Line Items]
Less than 12 Months: Fair Value	$ 6,585	$ 15,419
Less than 12 Months: Unrealized Losses	(28)	(66)
12 Months or longer: Fair Value	9,889	8,175
12 Months or longer: Unrealized Losses	(512)	(440)
Total: Fair Value	16,474	23,594
Total: Unrealized Losses	(540)	(506)
Less than 12 Months: Fair Value	5,501	11,908
Less than 12 Months: Unrealized Losses	(49)	(121)
12 Months or longer: Fair Value	21,890	17,060
12 Months or longer: Unrealized Losses	(723)	(1,003)
Total: Fair Value	27,391	28,968
Total: Unrealized Losses	(772)	(1,124)
Total investment securities in an unrealized loss position less than 12 months fair value	12,086	27,327
Total investment securities in an unrealized loss position less than 12 months gross unrealized loss	(77)	(187)
Total investment securities in an unrealized loss position 12 months or more fair value	31,779	25,235
Total investment securities in an unrealized loss position 12 months or more gross unrealized loss	(1,235)	(1,443)
Total investment securities in an unrealized loss position fair value	43,865	52,562
Total investment securities in an unrealized loss position gross unrealized loss	(1,312)	(1,630)
State And Municipal Obligations [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Less than 12 Months: Fair Value	1,635	5,433
Less than 12 Months: Unrealized Losses	(3)	(56)
12 Months or longer: Fair Value	2,791	1,000
12 Months or longer: Unrealized Losses	(11)	(10)
Total: Fair Value	4,426	6,433
Total: Unrealized Losses	(14)	(66)
Less than 12 Months: Fair Value	1,860	8,115
Less than 12 Months: Unrealized Losses	(1)	(66)
12 Months or longer: Fair Value	5,077
12 Months or longer: Unrealized Losses	(26)
Total: Fair Value	6,937	8,115
Total: Unrealized Losses	(27)	(66)
Single Issuer Trust Preferred Security [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
12 Months or longer: Fair Value	872	921
12 Months or longer: Unrealized Losses	(128)	(79)
Total: Fair Value	872	921
Total: Unrealized Losses	(128)	(79)
Corporate Debt Securities [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Less than 12 Months: Fair Value	4,950	0
Less than 12 Months: Unrealized Losses	(25)
12 Months or longer: Fair Value	6,226	6,254
12 Months or longer: Unrealized Losses	(373)	(351)
Total: Fair Value	11,176	6,254
Total: Unrealized Losses	(398)	(351)
Less than 12 Months: Fair Value	3,641	3,666
Less than 12 Months: Unrealized Losses	(48)	(49)
Total: Fair Value	3,641	3,666
Total: Unrealized Losses	(48)	(49)
U. S. Government Agencies [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Less than 12 Months: Fair Value		9,986
Less than 12 Months: Unrealized Losses		(10)
Total: Fair Value		9,986
Total: Unrealized Losses		(10)
12 Months or longer: Fair Value	1,986	1,979
12 Months or longer: Unrealized Losses	(14)	(20)
Total: Fair Value	1,986	1,979
Total: Unrealized Losses	(14)	(20)
Collateralized Mortgage Obligations [Member] | Fixed Rate [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Less than 12 Months: Fair Value		127
Less than 12 Months: Unrealized Losses		(6)
12 Months or longer: Fair Value	14,827	15,081
12 Months or longer: Unrealized Losses	(683)	(983)
Total: Fair Value	14,827	15,208
Total: Unrealized Losses	$ (683)	$ (989)

Investment Securities - Schedul

Investment Securities - Schedule maturities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Available for Sale, Amortized Cost:
Within 1 year	$ 1,003
Over 1 year through five years	8,337
After 5 years through ten years	9,973
Over 10 years	455
Amortized Cost	19,768	$ 24,804
Held-to-Maturity, Amortized Cost:
Within 1 year	2,000
After 5 years through ten years	5,542
Over 10 years	6,271
Collateralized mortgage obligations, fixed-rate	15,510
Held-to-Maturity, Amortized Cost, Total	29,323
Total investment securities, Amortized Cost	49,091	54,896
Available-for-Sale, Fair Value:
Within 1 year	1,000
Over 1 year through five years	8,170
After 5 years through ten years	9,606
Over 10 years	455
Available-for-sale, Fair Value, Total	19,231
Held-to-Maturity, Fair Value:
Within 1 year	1,986
After 5 years through ten years	5,491
Over 10 years	6,253
Mortgage-backed securities:
Collateralized mortgage obligations, fixed-rate	14,827
Held-to-Maturity, Fair Value, Total	28,557	28,968
Total investment securities, Fair Value	$ 47,788	$ 53,266

Loans Receivable and Related _3

Loans Receivable and Related Allowance for Loan Losses (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Financing Receivable, Impaired [Line Items]
Total loans	$ 933,426	$ 910,591	$ 814,577
Deferred loan fees and costs, net	460	566
Allowance for loan losses	(9,247)	(9,021)	(8,437)	$ (8,405)
Total loans receivable, net	924,639	902,136
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Total loans	202,306	197,219	186,831
Allowance for loan losses	(1,164)	(1,062)	(1,029)	(1,004)
Construction and Development - Residential and Commercial Receivables [Member]
Financing Receivable, Impaired [Line Items]
Total loans	41,140	37,433	34,627
Allowance for loan losses	(439)	(393)	(532)	(523)
Construction and Development - Land Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total loans	7,180	9,221	18,599
Allowance for loan losses	(45)	(49)	(130)	(132)
Construction And Development Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total loans	48,320	46,654
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Total loans	508,448	493,929	427,610
Allowance for loan losses	(5,344)	(5,031)	(4,260)	(3,581)
Commercial Farmland [Member]
Financing Receivable, Impaired [Line Items]
Total loans	12,054	12,066	1,711
Allowance for loan losses	(64)	(66)	(12)	(9)
Commercial Multi Family Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total loans	44,989	45,102	32,716
Allowance for loan losses	(274)	(232)	(200)	(224)
Commercial - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total loans	84,236	80,059	71,933
Allowance for loan losses	(462)	(467)	(449)	(541)
Commercial [Member]
Financing Receivable, Impaired [Line Items]
Total loans	649,727	631,156
Consumer - Home Equity Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Total loans	14,484	14,884	16,811
Allowance for loan losses	(79)	(82)	(94)	(90)
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total loans	16,674	18,363	21,304
Allowance for loan losses	(391)	(326)	(463)	(402)
Consumer - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total loans	1,915	2,315	2,435
Allowance for loan losses	(44)	(51)	$ (30)	$ (27)
Consumer Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total loans	$ 33,073	$ 35,562

Loans Receivable and Related _4

Loans Receivable and Related Allowance for Loan Losses (1) (Detail) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2018
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning Balance	$ 9,021		$ 8,405	$ 8,405
Charge-offs	(1,241)		(2)	(471)
Recoveries	14		34	133
Provisions	1,453	$ 125,000		954
Allowance for credit losses, Ending Balance	9,247	9,021	8,437	9,021
Allowance for credit losses: Ending balance: individually evaluated for impairment	543	1,577	313	1,577
Allowance for credit losses: Ending balance: collectively evaluated for impairment	8,704	7,444	8,124	7,444
Loans receivable	933,426	910,591	814,577	910,591
Loans receivable: Ending balance: individually evaluated for impairment	14,727	21,328	4,702	21,328
Loans Receivable: Ending balance: collectively evaluated for impairment	918,699	889,263	809,875	889,263
Residential Mortgage [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning Balance	1,062		1,004	1,004
Charge-offs	(17)			(60)
Recoveries			2	58
Provisions	119		23	60
Allowance for credit losses, Ending Balance	1,164	1,062	1,029	1,062
Allowance for credit losses: Ending balance: collectively evaluated for impairment	1,164	1,062	1,029	1,062
Loans receivable	202,306	197,219	186,831	197,219
Loans receivable: Ending balance: individually evaluated for impairment	3,627	3,148	2,438	3,148
Loans Receivable: Ending balance: collectively evaluated for impairment	198,679	194,071	184,393	194,071
Construction and Development - Residential and Commercial Receivables [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning Balance	393		523	523
Provisions	46		9	(130)
Allowance for credit losses, Ending Balance	439	393	532	393
Allowance for credit losses: Ending balance: collectively evaluated for impairment	439	393	532	393
Loans receivable	41,140	37,433	34,627	37,433
Loans Receivable: Ending balance: collectively evaluated for impairment	41,140	37,433	34,627	37,433
Construction and Development - Land Receivable [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning Balance	49		132	132
Provisions	(4)		(2)	(83)
Allowance for credit losses, Ending Balance	45	49	130	49
Allowance for credit losses: Ending balance: collectively evaluated for impairment	45	49	130	49
Loans receivable	7,180	9,221	18,599	9,221
Loans receivable: Ending balance: individually evaluated for impairment	72	76	89	76
Loans Receivable: Ending balance: collectively evaluated for impairment	7,108	9,145	18,510	9,145
Commercial Real Estate [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning Balance	5,031		3,581	3,581
Charge-offs	(1,223)			(276)
Recoveries	3		9	11
Provisions	1,533		670	1,715
Allowance for credit losses, Ending Balance	5,344	5,031	4,260	5,031
Allowance for credit losses: Ending balance: individually evaluated for impairment	338	1,448	156	1,448
Allowance for credit losses: Ending balance: collectively evaluated for impairment	5,006	3,583	4,104	3,583
Loans receivable	508,448	493,929	427,610	493,929
Loans receivable: Ending balance: individually evaluated for impairment	10,349	17,409	1,347	17,409
Loans Receivable: Ending balance: collectively evaluated for impairment	498,099	476,520	426,263	476,520
Commercial Farmland [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning Balance	66		9	9
Provisions	(2)		3	57
Allowance for credit losses, Ending Balance	64	66	12	66
Allowance for credit losses: Ending balance: collectively evaluated for impairment	64	66	12	66
Loans receivable	12,054	12,066	1,711	12,066
Loans Receivable: Ending balance: collectively evaluated for impairment	12,054	12,066	1,711	12,066
Commercial Multi Family Receivable [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning Balance	232		224	224
Provisions	42		(24)	8
Allowance for credit losses, Ending Balance	274	232	200	232
Allowance for credit losses: Ending balance: collectively evaluated for impairment	274	232	200	232
Loans receivable	44,989	45,102	32,716	45,102
Loans Receivable: Ending balance: collectively evaluated for impairment	44,989	45,102	32,716	45,102
Commercial - Other Receivable [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning Balance	467		541	541
Charge-offs				(45)
Recoveries	2		1	4
Provisions	(7)		(93)	(33)
Allowance for credit losses, Ending Balance	462	467	449	467
Allowance for credit losses: Ending balance: collectively evaluated for impairment	462	467	449	467
Loans receivable	84,236	80,059	71,933	80,059
Loans receivable: Ending balance: individually evaluated for impairment			239
Loans Receivable: Ending balance: collectively evaluated for impairment	84,236	80,059	71,694	80,059
Consumer - Home Equity Lines of Credit [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning Balance	82		90	90
Recoveries			1	1
Provisions	(3)		3	(9)
Allowance for credit losses, Ending Balance	79	82	94	82
Allowance for credit losses: Ending balance: collectively evaluated for impairment	79	82	94	82
Loans receivable	14,484	14,884	16,811	14,884
Loans receivable: Ending balance: individually evaluated for impairment	34	34	10	34
Loans Receivable: Ending balance: collectively evaluated for impairment	14,450	14,850	16,801	14,850
Consumer - Second Mortgages Receivable [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning Balance	326		402	402
Charge-offs				(88)
Recoveries	8		19	52
Provisions	57		42	(40)
Allowance for credit losses, Ending Balance	391	326	463	326
Allowance for credit losses: Ending balance: individually evaluated for impairment	179	103	156	103
Allowance for credit losses: Ending balance: collectively evaluated for impairment	212	223	307	223
Loans receivable	16,674	18,363	21,304	18,363
Loans receivable: Ending balance: individually evaluated for impairment	619	635	578	635
Loans Receivable: Ending balance: collectively evaluated for impairment	16,055	17,728	20,726	17,728
Consumer - Other Receivable [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning Balance	51		27	27
Charge-offs	(1)		(2)	(2)
Recoveries	1		2	7
Provisions	(7)		3	19
Allowance for credit losses, Ending Balance	44	51	30	51
Allowance for credit losses: Ending balance: individually evaluated for impairment	26	26	1	26
Allowance for credit losses: Ending balance: collectively evaluated for impairment	18	25	29	25
Loans receivable	1,915	2,315	2,435	2,315
Loans receivable: Ending balance: individually evaluated for impairment	26	26	1	26
Loans Receivable: Ending balance: collectively evaluated for impairment	1,889	2,289	2,434	2,289
Unallocated [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning Balance	1,262		1,872	1,872
Provisions	(321)		(634)	(610)
Allowance for credit losses, Ending Balance	941	1,262	1,238	1,262
Allowance for credit losses: Ending balance: collectively evaluated for impairment	$ 941	$ 1,262	$ 1,238	$ 1,262

Loans Receivable and Related _5

Loans Receivable and Related Allowance for Loan Losses (2) (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Financing Receivable, Impaired [Line Items]
Impaired Loans With Specific Allowance, Recorded Investment	$ 10,029	$ 16,489
Impaired Loans With Specific Allowance, Related Allowance	543	1,577
Impaired Loans With No Specific Allowance, Recorded Investment	4,698	4,839
Total Impaired Loans Recorded Investment	14,727	21,328
Total Impaired Loans Unpaid Principal Balance	15,212	21,888
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans With No Specific Allowance, Recorded Investment	3,627	3,148
Total Impaired Loans Recorded Investment	3,627	3,148
Total Impaired Loans Unpaid Principal Balance	3,782	3,337
Construction and Development - Land Receivable [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans With No Specific Allowance, Recorded Investment	72	76
Total Impaired Loans Recorded Investment	72	76
Total Impaired Loans Unpaid Principal Balance	72	76
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans With Specific Allowance, Recorded Investment	9,807	16,343
Impaired Loans With Specific Allowance, Related Allowance	338	1,448
Impaired Loans With No Specific Allowance, Recorded Investment	542	1,066
Total Impaired Loans Recorded Investment	10,349	17,409
Total Impaired Loans Unpaid Principal Balance	10,626	17,685
Consumer - Home Equity Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans With No Specific Allowance, Recorded Investment	34	34
Total Impaired Loans Recorded Investment	34	34
Total Impaired Loans Unpaid Principal Balance	35	34
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans With Specific Allowance, Recorded Investment	196	120
Impaired Loans With Specific Allowance, Related Allowance	179	103
Impaired Loans With No Specific Allowance, Recorded Investment	423	515
Total Impaired Loans Recorded Investment	619	635
Total Impaired Loans Unpaid Principal Balance	671	730
Consumer - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans With Specific Allowance, Recorded Investment	26	26
Impaired Loans With Specific Allowance, Related Allowance	26	26
Total Impaired Loans Recorded Investment	26	26
Total Impaired Loans Unpaid Principal Balance	$ 26	$ 26

Loans Receivable and Related _6

Loans Receivable and Related Allowance for Loan Losses (3) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Impaired [Line Items]
Average Impaired Loans	$ 19,349	$ 4,048
Interest Income Recognized on Impaired Loans	106	24
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Average Impaired Loans	3,563	2,390
Interest Income Recognized on Impaired Loans	27	12
Construction and Development - Land Receivable [Member]
Financing Receivable, Impaired [Line Items]
Average Impaired Loans	73	91
Interest Income Recognized on Impaired Loans	1	1
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Average Impaired Loans	15,017	820
Interest Income Recognized on Impaired Loans	76	6
Commercial - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Average Impaired Loans		241
Interest Income Recognized on Impaired Loans		3
Consumer - Home Equity Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Average Impaired Loans	45	10
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Average Impaired Loans	625	495
Interest Income Recognized on Impaired Loans	2	2
Consumer - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Average Impaired Loans	$ 26	$ 1

Loans Receivable and Related _7

Loans Receivable and Related Allowance for Loan Losses (4) (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	$ 933,426	$ 910,591	$ 814,577
Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	914,359	885,863
Special Mention [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	1,650	1,052
Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	17,417	23,676
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	202,306	197,219	186,831
Residential Mortgage [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	197,816	193,584
Residential Mortgage [Member] | Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	4,490	3,635
Construction and Development - Residential and Commercial Receivables [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	41,140	37,433	34,627
Construction and Development - Residential and Commercial Receivables [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	41,140	37,433
Construction and Development - Land Receivable [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	7,180	9,221	18,599
Construction and Development - Land Receivable [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	7,108	9,146
Construction and Development - Land Receivable [Member] | Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	72	75
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	508,448	493,929	427,610
Commercial Real Estate [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	495,225	474,232
Commercial Real Estate [Member] | Special Mention [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	1,549	949
Commercial Real Estate [Member] | Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	11,674	18,748
Commercial Farmland [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	12,054	12,066	1,711
Commercial Farmland [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	12,054	12,066
Commercial Multi Family Receivable [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	44,989	45,102	32,716
Commercial Multi Family Receivable [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	44,989	45,102
Commercial - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	84,236	80,059	71,933
Commercial - Other Receivable [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	84,086	79,902
Commercial - Other Receivable [Member] | Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	150	157
Consumer - Home Equity Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	14,484	14,884	16,811
Consumer - Home Equity Lines of Credit [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	14,353	14,707
Consumer - Home Equity Lines of Credit [Member] | Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	131	177
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	16,674	18,363	21,304
Consumer - Second Mortgages Receivable [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	15,700	17,402
Consumer - Second Mortgages Receivable [Member] | Special Mention [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	101	103
Consumer - Second Mortgages Receivable [Member] | Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	873	858
Consumer - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	1,915	2,315	$ 2,435
Consumer - Other Receivable [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	1,888	2,289
Consumer - Other Receivable [Member] | Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	$ 27	$ 26

Loans Receivable and Related _8

Loans Receivable and Related Allowance for Loan Losses (5) (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Financing Receivable, Impaired [Line Items]
Total non-accrual loans	$ 2,562	$ 2,687
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Total non-accrual loans	1,783	1,817
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Total non-accrual loans	520	520
Consumer - Home Equity Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Total non-accrual loans	34	34
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total non-accrual loans	199	290
Consumer - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total non-accrual loans	$ 26	$ 26

Loans Receivable and Related _9

Loans Receivable and Related Allowance for Loan Losses (Narrative) (Detail)	3 Months Ended			12 Months Ended
	Dec. 31, 2018USD ($)NumberBank	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2018USD ($)Number	Dec. 14, 2018USD ($)
Financing Receivable, Impaired [Line Items]
Non accrual loans interest income	$ 79,000		$ 10,000
Loans past due 90 days or more and still accruing interest	$ 759,000	$ 374,000		$ 374,000
Number of loans | Number	22			18
Recorded Investment	$ 12,664,000	18,929,000		$ 18,929,000
Allowance for loan and lease losses		1,300,000
Amount of loans charged down	1,200,000
Provisions	$ 1,453,000	125,000,000		954,000
Number of peer banks | Bank	10
Addtional provision for loan losses	$ 390,000,000
Nonperforming Financing Receivable [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	500,000	289,000		289,000	$ 7,000,000
Increase (decrease) in recorded Investment	6,100,000
Other Real Estate Owned [Member]
Financing Receivable, Impaired [Line Items]
Loans charged down, fair value	5,800,000
Increase (decrease) in recorded Investment	(6,200,000)
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Loans past due 90 days or more and still accruing interest	$ 719,000	339,000		$ 339,000
Number of loans | Number	14			10
Recorded Investment	$ 2,537,000	1,816,000		$ 1,816,000
Provisions	119,000		23,000	60,000
Residential Mortgage [Member] | Nonperforming Financing Receivable [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	500,000	289,000		$ 289,000
Residential Mortgage [Member] | 30 Days Delinquent for Principal and Interest Due [Member]
Financing Receivable, Impaired [Line Items]
Loans past due 90 days or more and still accruing interest	$ 718,000
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Number of loans | Number	3			4
Recorded Investment	$ 9,830,000	16,889,000		$ 16,889,000
Amount of loans charged down	1,200,000
Provisions	1,533,000		670,000	1,715,000
Construction and Development - Residential and Commercial Receivables [Member]
Financing Receivable, Impaired [Line Items]
Provisions	46,000		$ 9,000	(130,000)
Real estate through foreclosure	$ 2,100,000	$ 1,400,000		$ 1,400,000

Loans Receivable and Related_10

Loans Receivable and Related Allowance for Loan Losses (6) (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Financing Receivable, Impaired [Line Items]
Current	$ 926,843	$ 898,519
Past Due	6,583	12,072
Total Loans Receivable	933,426	910,591	$ 814,577
Accruing 90 Days or More Past Due	759	374
30 to 59 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	3,540	1,027
60 to 89 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	1,191	8,139
Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	1,852	2,906
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Current	197,767	193,727
Past Due	4,540	3,492
Total Loans Receivable	202,306	197,219	186,831
Accruing 90 Days or More Past Due	719	339
Residential Mortgage [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	2,334	450
Residential Mortgage [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	1,069	1,016
Residential Mortgage [Member] | Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	1,137	2,026
Construction and Development - Residential and Commercial Receivables [Member]
Financing Receivable, Impaired [Line Items]
Current	41,140	37,433
Total Loans Receivable	41,140	37,433	34,627
Construction and Development - Land Receivable [Member]
Financing Receivable, Impaired [Line Items]
Current	7,180	9,221
Total Loans Receivable	7,180	9,221	18,599
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Current	506,980	485,886
Past Due	1,468	8,043
Total Loans Receivable	508,448	493,929	427,610
Commercial Real Estate [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	948	449
Commercial Real Estate [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due		7,019
Commercial Real Estate [Member] | Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	520	575
Commercial Farmland [Member]
Financing Receivable, Impaired [Line Items]
Current	12,054	12,066
Total Loans Receivable	12,054	12,066	1,711
Commercial Multi Family Receivable [Member]
Financing Receivable, Impaired [Line Items]
Current	44,989	45,102
Total Loans Receivable	44,989	45,102	32,716
Commercial - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Current	84,236	80,059
Total Loans Receivable	84,236	80,059	71,933
Consumer - Home Equity Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Current	14,284	14,815
Past Due	200	69
Total Loans Receivable	14,484	14,884	16,811
Accruing 90 Days or More Past Due		35
Consumer - Home Equity Lines of Credit [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	69
Consumer - Home Equity Lines of Credit [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	97
Consumer - Home Equity Lines of Credit [Member] | Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	34	69
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Current	16,327	17,928
Past Due	347	434
Total Loans Receivable	16,674	18,363	21,304
Accruing 90 Days or More Past Due	39
Consumer - Second Mortgages Receivable [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	187	121
Consumer - Second Mortgages Receivable [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	25	103
Consumer - Second Mortgages Receivable [Member] | Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	135	211
Consumer - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Current	1,886	2,282
Past Due	28	33
Total Loans Receivable	1,915	2,315	$ 2,435
Accruing 90 Days or More Past Due	1
Consumer - Other Receivable [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	2	7
Consumer - Other Receivable [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due		1
Consumer - Other Receivable [Member] | Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	$ 26	$ 25

Loans Receivable and Related_11

Loans Receivable and Related Allowance for Loan Losses (Details 7) (Detail) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2018USD ($)Number	Sep. 30, 2018USD ($)Number
Financing Receivable, Impaired [Line Items]
Total Troubled Debt Restructurings, Number of Loans | Number	22	18
Total Troubled Debt Restructurings, Recorded Investment | $	$ 12,664	$ 18,929
Troubled Debt Restructured Loans That Have Defaulted on Modified Terms Within The Past 12 Months, Number of Loans | Number	4	3
Troubled Debt Restructured Loans That Have Defaulted on Modified Terms Within The Past 12 Months, Recorded Investment | $	$ 500	$ 289
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Total Troubled Debt Restructurings, Number of Loans | Number	14	10
Total Troubled Debt Restructurings, Recorded Investment | $	$ 2,537	$ 1,816
Troubled Debt Restructured Loans That Have Defaulted on Modified Terms Within The Past 12 Months, Number of Loans | Number	4	3
Troubled Debt Restructured Loans That Have Defaulted on Modified Terms Within The Past 12 Months, Recorded Investment | $	$ 500	$ 289
Construction and Development - Land Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total Troubled Debt Restructurings, Number of Loans | Number	1	1
Total Troubled Debt Restructurings, Recorded Investment | $	$ 72	$ 76
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Total Troubled Debt Restructurings, Number of Loans | Number	3	4
Total Troubled Debt Restructurings, Recorded Investment | $	$ 9,830	$ 16,889
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total Troubled Debt Restructurings, Number of Loans | Number	4	3
Total Troubled Debt Restructurings, Recorded Investment | $	$ 225	$ 148

Loans Receivable and Related_12

Loans Receivable and Related Allowance for Loan Losses (8) (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 14, 2018	Sep. 30, 2018
Recorded Investment	$ 12,664		$ 18,929
Performing Financing Receivable [Member]
Recorded Investment	12,164		18,640
Nonperforming Financing Receivable [Member]
Recorded Investment	500	$ 7,000	289
Residential Mortgage [Member]
Recorded Investment	2,537		1,816
Residential Mortgage [Member] | Performing Financing Receivable [Member]
Recorded Investment	2,037		1,527
Residential Mortgage [Member] | Nonperforming Financing Receivable [Member]
Recorded Investment	500		289
Construction and Development - Land Receivable [Member]
Recorded Investment	72		76
Construction and Development - Land Receivable [Member] | Performing Financing Receivable [Member]
Recorded Investment	72		76
Commercial Real Estate [Member]
Recorded Investment	9,830		16,889
Commercial Real Estate [Member] | Performing Financing Receivable [Member]
Recorded Investment	9,830		16,889
Consumer - Second Mortgages Receivable [Member]
Recorded Investment	225		148
Consumer - Second Mortgages Receivable [Member] | Performing Financing Receivable [Member]
Recorded Investment	$ 225		$ 148

Loans Receivable and Related_13

Loans Receivable and Related Allowance for Loan Losses (9) (Detail) $ in Thousands	3 Months Ended
	Dec. 31, 2018USD ($)Number
Financing Receivable, Impaired [Line Items]
Number of Contracts | Number	5
Pre-Modifications Outstanding Recorded Investment	$ 812
Post-Modification Outstanding Recorded Investment	$ 805
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Number of Contracts | Number	4
Pre-Modifications Outstanding Recorded Investment	$ 732
Post-Modification Outstanding Recorded Investment	$ 726
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Number of Contracts | Number	1
Pre-Modifications Outstanding Recorded Investment	$ 80
Post-Modification Outstanding Recorded Investment	$ 79

Regulatory Matters (Narrative)

Regulatory Matters (Narrative) (Detail) - USD ($) $ in Thousands	Oct. 09, 2018	Dec. 31, 2018	Sep. 30, 2018	Jan. 02, 2017	Jan. 02, 2015
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Gross proceeds of common stock	$ 25,000
Net proceeds of common stock	$ 23,300	$ 23,344
Malvern Federal Savings Bank [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity Tier 1 capital ratio		4.50%	4.50%	7.00%	4.00%
Tier 1 capital ratio		6.00%	6.00%	8.50%	6.00%
Tier 1 Capital coservation buffer				2.50%
Total capital ratio		16.55%	16.13%	10.50%
Capital conservation buffer percentage of risk-weighted assets				0.625%

Regulatory Matters (Detail)

Regulatory Matters (Detail) - USD ($)	Dec. 31, 2018	Sep. 30, 2018	Jan. 02, 2017	Jan. 02, 2015
Parent Company [Member]
Capital (to adjusted tangible assets): Actual Amount	$ 135,679	$ 110,239
Common equity Tier 1(to risk-weighted assets): Actual Amount	135,679	110,239
Tier 1 Capital (to risk-weighted assets): Actual Amount	135,679	110,239
Total Capital (to risk-weighted assets): Actual Amount	$ 169,494	$ 143,787
Capital (to adjusted tangible assets): Actual Ratio	12.55%	10.63%
Common equity Tier 1(to risk-weighted assets): Actual Ratio	14.61%	12.62%
Tier 1 Capital (to risk-weighted assets): Actual Ratio	14.61%	12.62%
Total Capital (to risk-weighted assets): Actual Ratio	18.25%	16.45%
Capital (to adjusted tangible assets): For Capital Adequacy Purposes Amount	$ 43,246	$ 41,491
Common Equity Tier 1 Capital (to risk weighted assets)	41,793	39,322
Tier 1 Capital (to risk weighted assets)	55,724	52,430
Total Capital (to risk weighted assets)	$ 74,299	$ 69,906
Capital (to adjusted tangible assets): For Capital Adequacy Purposes Ratio	4.00%	4.00%
Common Equity Tier 1 Capital (to risk weighted assets)	4.50%	4.50%
Tier 1 Capital (to risk weighted assets)	6.00%	6.00%
Total Capital (to risk weighted assets)	8.00%	8.00%
Capital (to adjusted tangible assets): To be Well Capitalized under Prompt Corrective Action Provisions Capital Amount	$ 54,058	$ 51,864
Common Equity Tier 1 Capital (to risk weighted assets)	60,368	56,799
Tier 1 Capital (to risk weighted assets)	74,299	69,906
Total Capital (to risk weighted assets)	$ 92,874	$ 87,383
Capital (to adjusted tangible assets): To be Well Capitalized under Prompt Corrective Action Provisions Ratio	5.00%	5.00%
Common Equity Tier 1 Capital (to risk weighted assets)	6.50%	6.50%
Tier 1 Capital (to risk weighted assets)	8.00%	8.00%
Total Capital (to risk weighted assets)	10.00%	10.00%
Malvern Federal Savings Bank [Member]
Capital (to adjusted tangible assets): Actual Amount	$ 144,216	$ 131,746
Common equity Tier 1(to risk-weighted assets): Actual Amount	144,216	131,746
Tier 1 Capital (to risk-weighted assets): Actual Amount	144,216	131,746
Total Capital (to risk-weighted assets): Actual Amount	$ 153,530	$ 140,833
Capital (to adjusted tangible assets): Actual Ratio	13.35%	12.71%
Common equity Tier 1(to risk-weighted assets): Actual Ratio	15.54%	15.09%
Tier 1 Capital (to risk-weighted assets): Actual Ratio	15.54%	15.09%
Total Capital (to risk-weighted assets): Actual Ratio	16.55%	16.13%	10.50%
Capital (to adjusted tangible assets): For Capital Adequacy Purposes Amount	$ 43,219	$ 41,450
Common Equity Tier 1 Capital (to risk weighted assets)	41,752	39,293
Tier 1 Capital (to risk weighted assets)	55,670	52,390
Total Capital (to risk weighted assets)	$ 74,225	$ 69,853
Capital (to adjusted tangible assets): For Capital Adequacy Purposes Ratio	4.00%	4.00%
Common Equity Tier 1 Capital (to risk weighted assets)	4.50%	4.50%	7.00%	4.00%
Tier 1 Capital (to risk weighted assets)	6.00%	6.00%	8.50%	6.00%
Total Capital (to risk weighted assets)	8.00%	8.00%
Capital (to adjusted tangible assets): To be Well Capitalized under Prompt Corrective Action Provisions Capital Amount	$ 54,024	$ 51,812
Common Equity Tier 1 Capital (to risk weighted assets)	60,308	56,756
Tier 1 Capital (to risk weighted assets)	74,225	69,853
Total Capital (to risk weighted assets)	$ 92,782	$ 87,317
Capital (to adjusted tangible assets): To be Well Capitalized under Prompt Corrective Action Provisions Ratio	5.00%	5.00%
Common Equity Tier 1 Capital (to risk weighted assets)	6.50%	6.50%
Tier 1 Capital (to risk weighted assets)	8.00%	8.00%
Total Capital (to risk weighted assets)	10.00%	10.00%

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Detail) - USD ($)	3 Months Ended
	Dec. 31, 2018	Sep. 30, 2018
Derivative [Line Items]
Minimum collateral posting thresholds with derivative counterparties	$ 0	$ 0
Interest Rate Swap [Member]
Derivative [Line Items]
Estimated interest expense	$ 381,000

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Detail) - Interest Rate Swap Agreements [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Designated as Hedging Instrument [Member] | Other Assets [Member]
Notional Amount, Asset Derivatives	$ 35,000	$ 65,000
Fair Value	739	$ 1,245
Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Notional Amount, Liability Derivatives	30,000
Fair Value	204
Derivatives Not Designated As Hedging Instrument [Member] | Other Assets [Member]
Notional Amount, Asset Derivatives	25,350
Fair Value	1,139
Derivatives Not Designated As Hedging Instrument [Member] | Other Liabilities [Member]
Notional Amount, Liability Derivatives	25,350
Fair Value	$ 1,140

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Statement of Operations Relating to The Cash Flow Derivative Instrument. (Detail) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative	$ (639)	$ 230
Amount of Gain (Loss) Reclassified from OCI to Interest Income	71	(13)
Interest Rate Swap Agreements [Member]
Derivative [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative	(639)	230
Amount of Gain (Loss) Reclassified from OCI to Interest Income	$ 71	$ (13)

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities - Schedule of Effects of Derivative Instruments on Consolidated Statements of Income (Detail) - Derivatives Not Designated As Hedging Instrument [Member] $ in Thousands	3 Months Ended
	Dec. 31, 2018USD ($)
Amount of Gain (Loss) Recognized in Income on derivatives	$ (1)
Interest Rate Swap Agreements [Member] | Other Income [Member]
Amount of Gain (Loss) Recognized in Income on derivatives	$ (1)

Fair Value Measurements (Detail

Fair Value Measurements (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Assets
Investment securities available for sale, at fair value	$ 19,231
Fair Value, Measurements, Recurring [Member]
Assets
Investment securities available for sale, at fair value	19,231	$ 24,298
Derivative assets	1,878	1,245
Liabilities
Derivative instruments	1,344
Fair Value, Measurements, Recurring [Member] | State And Municipal Obligations [Member]
Assets
Investment securities available for sale, at fair value	6,933	6,887
Fair Value, Measurements, Recurring [Member] | Single Issuer Trust Preferred Security [Member]
Assets
Investment securities available for sale, at fair value	872	921
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member]
Assets
Investment securities available for sale, at fair value	11,176	6,254
Fair Value, Measurements, Recurring [Member] | Mutual Fund [Member]
Assets
Investment securities available for sale, at fair value	250	250
Fair Value, Measurements, Recurring [Member] | U.S. Treasury Notes [Member]
Assets
Investment securities available for sale, at fair value		9,986
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets
Investment securities available for sale, at fair value		9,986
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | U.S. Treasury Notes [Member]
Assets
Investment securities available for sale, at fair value		9,986
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets
Investment securities available for sale, at fair value	18,981	14,062
Derivative assets	1,878	1,245
Liabilities
Derivative instruments	1,344
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | State And Municipal Obligations [Member]
Assets
Investment securities available for sale, at fair value	6,933	6,887
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Single Issuer Trust Preferred Security [Member]
Assets
Investment securities available for sale, at fair value	872	921
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]
Assets
Investment securities available for sale, at fair value	11,176	6,254
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets
Investment securities available for sale, at fair value	250	250
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mutual Fund [Member]
Assets
Investment securities available for sale, at fair value	$ 250	$ 250

Fair Value Measurements (1) (De

Fair Value Measurements (1) (Detail) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value, nonrecurring basis	$ 15,282	$ 15,611
Other Real Estate Owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value, nonrecurring basis	5,796
Impaired Loans Net [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value, nonrecurring basis	9,486	15,611
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value, nonrecurring basis	15,282
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value, nonrecurring basis	5,796
Fair Value, Inputs, Level 3 [Member] | Impaired Loans Net [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value, nonrecurring basis	$ 9,486	$ 15,611

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Impaired Loans with aggregate balance	$ 10,029	$ 16,489
Impaired Loans with specific loan loss allowance	$ 543	1,577
Impaired Loans with aggregate balance		$ 17,200

Fair Value Measurements (2) (De

Fair Value Measurements (2) (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Financial assets:
Investment securities available for sale, at fair value	$ 19,231
Investment securities held to maturity, fair value	28,557	$ 28,968
Financial liabilities:
Subordinated debt	24,500	24,461
Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	99,876	30,834
Investment securities available for sale, at fair value	19,231	24,298
Investment securities held to maturity, fair value	29,323	30,092
Loans receivable, net (including impaired loans)	924,639	902,136
Accrued interest receivable	3,724	3,800
Restricted stock	9,493	8,537
Mortgage servicing rights (included in Other Assets)	213	223
Derivatives (included in Other Assets)	1,878	1,245
Financial liabilities:
Savings accounts	44,438	44,642
Checking and NOW accounts	300,759	225,750
Money market accounts	253,436	270,834
Certificates of deposit	244,567	232,937
Borrowings (excluding sub debt)	118,000	120,500
Subordinated debt	24,500	24,461
Derivatives (included in Other Liabilities)	1,344
Accrued interest payable	1,251	784
Fair Value [Member]
Financial assets:
Cash and cash equivalents	99,876	30,834
Investment securities available for sale, at fair value	19,231	24,298
Investment securities held to maturity, fair value	28,557	28,968
Loans receivable, net (including impaired loans)	921,891	893,520
Accrued interest receivable	3,724	3,800
Restricted stock	9,493	8,537
Mortgage servicing rights (included in Other Assets)	241	268
Derivatives (included in Other Assets)	1,878	1,245
Financial liabilities:
Savings accounts	44,438	44,642
Checking and NOW accounts	300,759	225,750
Money market accounts	253,436	270,834
Certificates of deposit	245,770	234,398
Borrowings (excluding sub debt)	118,074	120,420
Subordinated debt	24,500	24,461
Derivatives (included in Other Liabilities)	1,344
Accrued interest payable	1,251	784
Fair Value, Inputs, Level 1 [Member] | Fair Value [Member]
Financial assets:
Cash and cash equivalents	99,876	30,834
Investment securities available for sale, at fair value		9,986
Fair Value, Inputs, Level 2 [Member] | Fair Value [Member]
Financial assets:
Investment securities available for sale, at fair value	18,981	14,062
Investment securities held to maturity, fair value	28,557	28,968
Accrued interest receivable	3,724	3,800
Restricted stock	9,493	8,537
Mortgage servicing rights (included in Other Assets)	241	268
Derivatives (included in Other Assets)	1,878	1,245
Financial liabilities:
Savings accounts	44,438	44,642
Checking and NOW accounts	300,759	225,750
Money market accounts	253,436	270,834
Certificates of deposit	245,770	234,398
Borrowings (excluding sub debt)	118,074	120,420
Subordinated debt	24,500	24,461
Derivatives (included in Other Liabilities)	1,344
Accrued interest payable	1,251	784
Fair Value, Inputs, Level 3 [Member] | Fair Value [Member]
Financial assets:
Investment securities available for sale, at fair value	250	250
Loans receivable, net (including impaired loans)	$ 921,891	$ 893,520

Income Taxes - (Details Narrati

Income Taxes - (Details Narrative) - USD ($) $ in Millions	Dec. 22, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal statutory tax rate	21.00%	21.00%	24.50%	24.50%
Previously Federal statutory tax rate	35.00%
Increase in deferred tax		$ 2.3

Income Taxes - (Details)

Income Taxes - (Details) - USD ($) $ in Thousands	Dec. 22, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Tax at statutory rate		$ 535	$ 878
Increase/(reduction) in taxes resulting from:
State tax, net of federal benefit		69	170
Tax-exempt interest		(3)	(11)
Earnings on bank-owned life insurance		(25)	(30)
Other		(41)
Subtotal		535	1,007
Impact of change in tax law			2,212
Total		$ 535	$ 3,219
Tax at statutory rate (in percentage)	21.00%	21.00%	24.50%	24.50%
Increase/(reduction) in taxes resulting from:
State tax, net of federal benefit (in percentage)		2.70%	4.30%
Tax-exempt interest (in percentage)		(0.10%)	(0.30%)
Earnings on bank-owned life insurance (in percentage)		(1)	(0.8)
Other (in percentage)		(1.60%)
Subtotal (in percentage)		21	27.7
Impact of change in tax law (in percentage)			61.20%
Total (in percentage)		21.00%	88.90%

Comprehensive Income (Loss) (De

Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018
Equity [Abstract]
Net unrealized holding losses on available-for-sale securities	$ (537)	$ (506)
Tax effect	113	106
Net of tax amount	(424)	(400)
Fair value adjustments on derivatives	535	1,245
Tax effect	(112)	(261)
Net of tax amount	423	984
Total accumulated other comprehensive (loss) income	$ (1)	$ 584

Comprehensive Income (Loss) (1)

Comprehensive Income (Loss) (1) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Equity [Abstract]
Net unrealized holding losses on available-for-sale securities	$ (33)	$ (83)
Amortization of unrealized holding losses on securites transferred from available-for-sale to held-to-maturity	2	2
Fair value adjustments on derivatives	(710)	242
Other comprehensive (loss) income before taxes	(741)	161
Tax effect	156	1
Total other comprehensive (loss), income	$ (585)	$ 162

Equity Based Incentive Compen_3

Equity Based Incentive Compensation Plan (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 14	$ 15
Malvern Bancorp, Inc. 2014 Long Term Incentive Compensation Plan (the 2014 Plan) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of shares available for grants	400,000
Number of remaining shares available for future grants	358,360
Description of vesting right	Restricted stock and option awards granted vest in 20% increments beginning on the one year anniversary of the grant date
Malvern Bancorp, Inc. 2014 Long Term Incentive Compensation Plan (the 2014 Plan) [Member] | Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted shares	0	4,664
Share-based compensation	$ 1,000	$ 4,000
Compensation cost not yet recognized	$ 78,000
Weighted average period	2 years 3 days
Malvern Bancorp, Inc. 2014 Long Term Incentive Compensation Plan (the 2014 Plan) [Member] | Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted shares	3,238	4,768
Share-based compensation	$ 13,000	$ 11,000
Compensation cost not yet recognized	$ 320,000
Weighted average period	2 years 2 months 4 days
Malvern Bancorp, Inc. 2014 Long Term Incentive Compensation Plan (the 2014 Plan) [Member] | First Year Anniversary [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
First vesting percentage	20.00%
First vesting period	1 year

Equity Based Incentive Compen_4

Equity Based Incentive Compensation Plan 1 (Detail) - Malvern Bancorp, Inc. 2014 Long Term Incentive Compensation Plan (the 2014 Plan) [Member] - Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning of year	15,996
Granted	0	4,664
Outstanding, end of year	15,996
Exercisable, end of year	3,804
Nonvested, at end of year	12,192
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of year	$ 22.34
Outstanding, end of year	22.34
Exercisable, end of year	21.35
Nonvested, at end of year	$ 22.65
Share-based Compensation Arrangement by Share-based Payment Award, Options, Weighted Average Remaining Contractual Life [Roll Forward]
Outstanding, end of year	8 years 4 months 18 days
Exercisable, end of year	8 years 2 months 14 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Aggregate Intrinsic Value [Roll Forward]
Outstanding, beginning of year	$ 41,490
Outstanding, end of year	11,130
Exercisable, end of year	$ 4,452

Equity Based Incentive Compen_5

Equity Based Incentive Compensation Plan 2 - Restricted Stock Awards (Detail) - Malvern Bancorp, Inc. 2014 Long Term Incentive Compensation Plan (the 2014 Plan) [Member] - Restricted Stock [Member]	3 Months Ended
	Dec. 31, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning of year | shares	14,340
Granted | shares	3,238
Outstanding, end of year | shares	17,578
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning of year | $ / shares	$ 20.36
Granted | $ / shares	19.57
Outstanding, end of year | $ / shares	$ 22.33