Malvern Bancorp (MLVF) 10-Q 11 Mar 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2020	Mar. 08, 2021
Cover [Abstract]
Entity Registrant Name	MALVERN BANCORP, INC.
Entity Central Index Key	0001550603
Document Type	10-Q
Document Period End Date	Dec. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		7,609,953
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Incorporation, State or Country Code	PA
Entity File Number	000-54835
Entity Tax Identification Number	45-5307782
Entity Address, Address Line One	42 Lancaster Avenue
Entity Address, City or Town	Paoli
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19301
City Area Code	610
Local Phone Number	644-9400
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	MLVF
Security Exchange Name	NASDAQ

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020
ASSETS
Cash and due from depository institutions	$ 83,764	$ 16,386
Interest bearing deposits in depository institutions	25,458	45,053
Cash and Cash Equivalents	109,222	61,439
Investment securities available for sale, at fair value (amortized cost of $35,239 and $31,658, respectively)	35,224	31,541
Investment securities held to maturity (fair value of $14,745 and $15,608, respectively)	14,161	14,970
Restricted stock, at cost	9,327	9,622
Loans receivable, net of allowance for loan losses of $13,035 and $12,433, respectively	990,346	1,026,894
Other real estate owned	5,796	5,796
Accrued interest receivable	4,051	3,677
Operating lease right-of-use assets	2,479	2,638
Property and equipment, net	6,154	6,274
Deferred income taxes	3,601	3,680
Bank-owned life insurance	25,564	25,400
Other assets	14,999	16,344
Total Assets	1,220,924	1,208,275
Deposits:
Deposits-non-interest-bearing	49,264	50,422
Deposits-interest-bearing	851,201	840,484
Total Deposits	900,465	890,906
FHLB advances	130,000	130,000
Secured borrowing		4,225
Other short-term borrowing	5,000
Subordinated debt	24,816	24,776
Advances from borrowers for taxes and insurance	1,881	1,741
Accrued interest payable	1,078	728
Operating lease liabilities	2,512	2,671
Other liabilities	11,906	12,635
Total Liabilities	1,077,658	1,067,682
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; 7,804,469 and 7,609,953 shares issued and outstanding, respectively, at December 31, 2020 and 7,804,469 and 7,609,953 shares issued and outstanding, respectively, at September 30, 2020	76	76
Additional paid-in-capital	85,195	85,127
Retained earnings	62,661	60,388
Unearned Employee Stock Ownership Plan (ESOP) shares	(1,010)	(1,047)
Accumulated other comprehensive loss	(793)	(1,088)
Treasury stock, at cost: 194,516 shares and 194,516 shares at December 31, 2020 and September 30, 2020, respectively	(2,863)	(2,863)
Total Shareholders’ Equity	143,266	140,593
Total Liabilities and Shareholders’ Equity	$ 1,220,924	$ 1,208,275

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020
Statement Of Financial Position [Abstract]
Investment securities available for sale, amortized cost	$ 35,239	$ 31,658
Investment securities held to maturity, fair value	14,745	15,608
Allowance for loan losses	$ 13,035	$ 12,433
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	7,804,469	7,804,469
Common stock, outstanding	7,609,953	7,609,953
Treasury stock, shares	194,516	194,516

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Interest and Dividend Income
Loans, including fees	$ 10,076	$ 10,926
Investment securities, taxable	347	215
Investment securities, tax-exempt	24	39
Dividends, restricted stock	141	188
Interest-bearing cash accounts	8	472
Total Interest and Dividend Income	10,596	11,840
Interest Expense
Deposits	2,257	3,737
Short-term borrowings	45
Long-term borrowings	607	832
Subordinated debt	383	383
Total Interest Expense	3,292	4,952
Net Interest Income	7,304	6,888
Provision for Loan Losses	550	2,150
Net Interest Income after Provision for Loan losses	6,754	4,738
Other Income
Service charges and other fees	247	259
Rental income	54	54
Net gains on sale and call of investments	355
Net gains on sale of loans	404	3
Earnings on bank-owned life insurance	164	127
Total Other Income	1,224	443
Other Expenses
Salaries and employee benefits	2,272	2,125
Occupancy expense	542	582
Federal deposit insurance premium	76	(3)
Advertising	32	22
Data processing	328	278
Professional fees	663	441
Other real estate owned expense, net	28	71
Pennsylvania shares tax	170	170
Other operating expenses	861	736
Total Other Expenses	4,972	4,422
Income before income tax expense	3,006	759
Income tax expense (benefit)	733	(26)
Net Income	$ 2,273	$ 785
Earnings Per Common Share:
Basic	$ 0.30	$ 0.10
Diluted	$ 0.30	$ 0.10
Weighted Average Common Shares Outstanding:
Basic	7,525,808	7,665,842
Diluted	7,526,376	7,665,842

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net Income		$ 2,273	$ 785
Other Comprehensive Income (Loss), Net of Tax:
Unrealized holding (losses) gains on available-for-sale securities		457	71
Tax effect		(96)	(15)
Net of tax amount		361	56
Reclassification adjustment for net gains arising during the period	[1]	(355)
Tax effect		74
Net of tax amount		(281)
Adjustment for loss recorded on replacement of derivative		(2)
Amortization of unrealized holding losses on securities transferred from available-for-sale to held-to-maturity	[2]	1	1
Net of tax amount		1	1
Fair value adjustments on derivatives		273	91
Tax effect		(57)	(19)
Net of tax amount		216	72
Total other comprehensive income		295	129
Total comprehensive income		$ 2,568	$ 914
[1]	Amounts are included in net gains on sale of investments on the Consolidated Statements of Operations in total other income.
[2]	Amounts are included in interest and dividends on investment securities on the Consolidated Statements of Operations.

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]	Treasury Stock [Member]
Balance at beginning at Sep. 30, 2019	$ 142,508	$ 78	$ 84,783	$ 59,744	$ (1,192)	$ (569)	$ (336)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	785			785
Other comprehensive income	129					129
Committed to be released ESOP shares	81		45		36
Stock based compensation	32		32
Balance at ending at Dec. 31, 2019	143,535	78	84,860	60,529	(1,156)	(440)	(336)
Balance at beginning at Sep. 30, 2020	140,593	76	85,127	60,388	(1,047)	(1,088)	(2,863)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	2,273			2,273
Other comprehensive income	295					295
Committed to be released ESOP shares	53		16		37
Stock based compensation	52		52
Balance at ending at Dec. 31, 2020	$ 143,266	$ 76	$ 85,195	$ 62,661	$ (1,010)	$ (793)	$ (2,863)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - shares	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Of Stockholders Equity [Abstract]
Committed to be released ESOP shares	3,600	3,600

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended		12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020
Cash Flows from Operating Activities
Net Income	$ 2,273,000	$ 785,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	170,000	187,000
Provision for Loan Losses	550,000	2,150,000	$ 10,610,000
Deferred income tax expense	79,000	34,000
ESOP expense	53,000	81,000
Stock based compensation	52,000	32,000
Amortization of premiums and discounts on investments securities, net	95,000	181,000
Amortization of loan origination fees and costs	1,218,000	1,535,000
Amortization of mortgage servicing rights	24,000	5,000
Net gain on sale and call of investments securities available-for-sale	(355,000)
Net gain on sale of secondary market loans	(404,000)	(3,000)
Proceeds from sale of secondary market loans	6,632,000	73,000
Originations of secondary market loans	(6,228,000)	(70,000)
Earnings on bank-owned life insurance	(164,000)	(127,000)
(Increase) decrease in accrued interest receivable	(374,000)	192,000
Increase in accrued interest payable	350,000	293,000
Operating lease liability payments	(172,000)	(166,000)
(Decrease) increase in other liabilities	(888,000)	1,410,000
Decrease in other assets	1,846,000	1,239,000
Amortization of subordinate debt	40,000	39,000
Net Cash Provided by Operating Activities	4,797,000	7,870,000
Investment securities available-for-sale:
Purchases	(10,500,000)	(5,252,000)
Sales	6,830,000	0
Maturities, calls and principal repayments	428,000	2,000
Investment securities held-to-maturity:
Maturities, calls and principal repayments	730,000	1,737,000
Net decrease in loans	34,779,000	11,425,000
Net decrease in restricted stock	295,000	14,000
Purchase of property and equipment	(50,000)	(103,000)
Net Cash Provided by Investing Activities	32,512,000	7,823,000
Cash Flows from Financing Activities
Net increase (decrease) in deposits	9,559,000	(9,992,000)
Proceeds for long-term borrowings	90,000,000
Repayment of long-term borrowings	(90,000,000)
Repayment of secured borrowings	(4,225,000)	(25,000)
Proceeds of other borrowed money	5,000,000
Increase in advances from borrowers for taxes and insurance	140,000	583,000
Net Cash Provided by (Used in) Financing Activities	10,474,000	(9,434,000)
Net Increase in Cash and Cash Equivalents	47,783,000	6,259,000
Cash and Cash Equivalents - Beginning	61,439,000	153,543,000	153,543,000
Cash and Cash Equivalents - Ending	109,222,000	159,802,000	$ 61,439,000
Supplemental Cash Flows Information
Interest paid	2,942,000	4,614,000
Impact of ASC 842 adoption:
Right-of-use asset	$ 3,279,000	3,279,000
Operating lease liability		$ (3,279,000)

The Company

The Company	3 Months Ended
	Dec. 31, 2020
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 bank holding company registered 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. The Company’s primary business is the ownership and operation of the Bank. The Bank’s principal business consists of attracting deposits from businesses and the general public and investing those deposits, together with borrowings and funds generated from operations, in commercial and multi-family real estate loans, one- to four-family residential real estate loans, construction and development loans, commercial business loans, home equity loans, lines of credit, and other consumer loans. We also invest in and maintain a portfolio of investment securities, primarily comprised of corporate bonds, mortgage-backed securities, U.S. agency and bank qualified municipal obligations. Malvern Bank is 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. The Bank’s primary market niche is providing personalized service to its client base. The Bank conducts business from its headquarters in Paoli, Pennsylvania, a suburb of Philadelphia, and through its nine other banking locations in Chester and Delaware counties, Pennsylvania, Morristown, New Jersey, its New Jersey regional headquarters, and Palm Beach, Florida. The Bank also maintains representative offices in Wellington, Florida and Allentown, Pennsylvania. 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 GAAP.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2020
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 subsidiaries . All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements present the Company’s financial condition at December 31, 2020 and September 30, 2020 and the results of operations for the three months ended December 31, 2020 and 2019, and cash flows for the three months ended December 31, 2020 and 2019. 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 2020 Annual Report filed with the Securities and Exchange Commission (“SEC”). The consolidated statements of operations for the three months ended December 31, 2020 and the consolidated statements of cash flows for the three months ended December 31, 2020 are not necessarily indicative of the results of operations or cash flows for the full year ending September 30, 2021 or any interim period. Subsequent events have been evaluated through the date of the issuance of the unaudited Consolidated Financial Statements. No significant subsequent events have occurred through this date requiring adjustment to the financial statements or disclosures. Operating, Accounting and Reporting Considerations related to COVID-19 The COVID-19 pandemic has negatively impacted the global economy. In response to the crisis, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was passed by Congress and signed into law on March 27, 2020. The CARES Act provides an estimated $2.2 trillion to fight the COVID-19 pandemic and stimulate the economy by supporting individuals and businesses through loans, grants, tax changes, and other types of relief. Under Section 4013 of the CARES Act, and based upon regulatory guidance promulgated by federal banking regulators, qualifying short-term loan modifications resulting in payment deferrals that are attributable to the adverse impact of COVID-19, are not considered to be troubled debt restructurings (“TDRs”). • Accounting for Loan Modifications – The CARES A ct provides that a financial institution may elect to suspend (1) the requirements under GAAP for certain loan modifications that would otherwise be categorized as a TDR and (2) any determination that such loan modifications would be considered a TDR, including the related impairment for accounting purposes. The suspension is applicable for the term of the loan modification that occurs during the applicable period for a loan that was not more than 30 days past due as of December 31, 2019. The suspension is not applicable to any adverse impact on the credit of a borrower that is not related to the COVID-19 pandemic. • Paycheck Protection Program – The CARES Act established the Paycheck Protection Program (“PPP”), an expansion of the Small Business Administration’s 7(a) loan program and the Economic Injury Disaster Loan Program (“EIDL”), administrated directly by the Small Business Administration (“SBA”). • Mortgage Forbearance – Under the CARES Act, through the earlier of December 31, 2020, mortgage customers experiencing financial hardship due to COVID-19 may request forbearance on a loan for up to 30 days, with up to two additional 30-day periods at the borrower’s request. Also in response to the COVID-19 pandemic, the Board of Governors of the Federal Reserve System (“FRB”), the Federal Deposit Insurance Corporation (“FDIC”), the National Credit Union Administration (“NCUA”), the Office of the Comptroller of the Currency (“OCC”), and the Consumer Financial Protection Bureau (“CFPB”), in consultation with the state financial regulators (collectively, the “agencies”) issued a joint interagency statement (issued March 22, 2020; revised statement issued April 7, 2020). Some of the provisions applicable to the Company include, but are not limited to: • Accounting for Loan Modifications – Loan modifications that do not meet the conditions of the CARES Act may still qualify as a modification that does not need to be accounted for as a TDR. The agencies confirmed with the Financial Accounting Standards Board (“FASB”) staff that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who are current prior to any relief are not TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or insignificant delays in payments. Loan modifications were made in accordance with Section 4013 of the CARES Act and the Interagency Statement on Loan Modifications and Reporting for Financial Institutions working with customers affected by COVID-19 and therefore were not classified as TDRs. • Past Due Reporting – With regard to loans not otherwise reportable as past due, financial institutions are not expected to designate loans with deferrals granted due to COVID-19 as past due because of the deferral. A loan’s payment date is governed by the due date stipulated in the legal agreements. If a financial institution agrees to a payment deferral, these loans would not be considered past due during the period of the deferral. • Nonaccrual Status and Charge-offs – During short-term COVID-19 modifications, these loans generally should not be reported as nonaccrual or as classified. Recent Accounting Pronouncements Yet to Be Adopted Reference Rate Reform. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) . The guidance allows for companies to: (1) account for certain contract modifications as a continuation of the existing contract without additional analysis; (2) continue hedge accounting when certain critical terms of a hedging relationship change and assess effectiveness in ways that disregard certain potential sources of ineffectiveness; and (3) make a one-time sale and/or transfer of certain debt securities from held-to-maturity to available-for-sale or trading. This ASU is available for adoption effective immediately, or as of January 1, 2020 or any date thereafter for the Company, and applies prospectively to contract modifications and hedging relationships. The one-time election to sell and/or transfer debt securities classified as held-to-maturity may be made at any time after March 12, 2020. The Company anticipates adopting this ASU and will continue to analyze the provisions of the ASU in connection with ongoing procedures to monitor the work of the Alternative Rates Committee of the FRB and Federal Reserve Bank of New York in identifying an alternative U.S. dollar reference interest rate. It is too early to predict a new rate index replacement, but we anticipate that it will be the Secured Overnight Financing Rate (“SOFR”). The adoption of this new requirement is not expected to have a material impact on the consolidated earnings, financial position or cash flows of the Company. Income Taxes. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740). This ASU identifies, evaluates, and improves areas of GAAP for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to users of financial statements. The ASU is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. The adoption of this new requirement is not expected to have a material impact on the consolidated earnings, financial position or cash flows of the Company. Credit Losses. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . This 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, this ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. In April 2019, the FASB issued ASU 2019-04, Codification Improvements , which provides guidance on accounting for credit losses on accrued interest receivable balances and guidance on including recoveries when estimating the allowance. In May 2019, the FASB issued ASU 2019-05, Targeted Transition Relief, which allows entities with an option to elect fair value for certain instruments upon adoption of Topic 326. This ASU will be effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted . The Bank has a software system in place to assist with the calculation of Current Expected Credit Losses (“CECL”). In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments-Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) making this ASU effective for interim and annual periods beginning after December 15, 2022. As such , the Company would be required to implement the ASU on October 1, 2023. In November 2019, the FASB issued ASU No. 2019-11, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, which provides guidance on stakeholders’ specific issues about certain aspects of the amendments in ASU 2016-13. The Company formed a cross functional implementation team to review the requirements of ASU 2016-13 and contracted with a third-party provider to assist in the development and implementation of the revised credit loss methodology. The impact on the consolidated earnings, financial position and cash flows of the Company upon adoption of this ASU are currently unknown.

Risks and Uncertainties

Risks and Uncertainties	3 Months Ended
	Dec. 31, 2020
Risks And Uncertainties [Abstract]
Risks and Uncertainties	Note 3 – Risks and Uncertainties On March 11, 2020, the World Health Organization declared COVID-19, the disease caused by the novel coronavirus, a pandemic as a result of the global spread of the coronavirus illness. In response to the outbreak, federal and state authorities in the U.S. introduced various measures to try to limit or slow the spread of the virus, including travel restrictions, nonessential business closures, stay-at-home orders, and strict social distancing. The Company activated its “Pandemic Plan” to protect the health of employees and clients, which includes temporarily limiting lobby hours and transitioning some of the Company’s workforce to remote work. The full impact of COVID-19 is unknown and rapidly evolving. It has caused substantial disruption in international and U.S. economies, markets, and employment. The outbreak may have a significant adverse impact on certain industries the Company serves. Because of the significant uncertainties related to the ultimate duration of the COVID-19 pandemic and its potential effects on clients and prospects, and on the national and local economy as a whole, there can be no assurances as to how the crisis may ultimately affect the Company’s loan portfolio. To work with clients impacted by COVID-19, the Company began providing financial hardship relief in the form of payment deferrals and forbearances to consumers and business customers across several lending products, as well as suspension of home foreclosures. The initial payment deferrals and forbearances were expected to cover a period of three months. The Company subsequently approved a second forbearance period for a maximum of 90 additional days. These offers are not classified as TDRs, will not be reported as past due during the deferral period, and do not result in loans being placed on nonaccrual status. As of December 31, 2020, the Company entered into 16 loan modification agreements with respect to $68.9 million worth of loans, representing 6.9 percent of loans outstanding, compared to 43 loan modification agreements with respect to $144.8 million worth of loans, representing 13.9 percent of loans outstanding, as of September 30, 2020. For loans subject to the program, each borrower is required to resume making regularly scheduled loan payments at the end of the modification period and the deferred amounts will be moved to the end of the loan term. The Company participated in the initial PPP when the program was officially launched by the SBA and Treasury Department under the CARES Act. Recognizing the significance of operational risk that this portfolio of loans poses, and the continued complexity and uncertainty surrounding evolving regulatory pronouncements regarding various aspects of the PPP, management reviewed several options for continued servicing of the PPP loan portfolio through forgiveness and beyond. After thoughtful consideration, the Company concluded that it was in the best interests of both the Bank and our PPP borrowers that the loans be serviced by an organization that has the servicing infrastructure in place to support the significant volume and short timeframe involved in the complex and evolving PPP forgiveness process. In that regard, in mid-December, the Bank sold substantially all of its PPP loans to a seasoned and experienced non-bank lender and servicer of SBA loans. In connection with the sale, the Company recognized a $202,000 net gain on the sale of approximately $19.7 million of PPP loans, which was recorded as non-interest income for the period ended December 31, 2020. We are currently working with the same third party in order for our customers to be able to participate in the updated PPP loan program adopted as part of the COVID-19 stimulus bill enacted in December 2020 as part of the 2021 Consolidated Appropriations Act Subsequent to December 31, 2020 a $13.4 million commercial real estate loan classified as substandard loan as of December 31, 2020 was placed on non-accrual status during the quarter ended March 31, 2021, based on additional information received from the borrower. As of December 31, 2020, this loan was current and borrower was making payments in accordance with loan’s contractual terms.

Non-Interest Income

Non-Interest Income	3 Months Ended
	Dec. 31, 2020
Noninterest Income [Abstract]
Non-Interest Income	Note 4 – 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, 2020 2019 (In thousands) Rental income $ 54 $ 54 Net gains on sale and call of investments 355 - Net gains on sale of loans 404 3 Earnings on bank-owned life insurance 164 127 Non-interest income within the scope of other GAAP topics $ 977 $ 184 ATM fees $ 3 $ 2 Credit card fee income 5 6 DDA fee income 22 30 DDA service fees 24 19 Debit card fees 64 66 Other loan fee income 72 77 Other fee income 55 57 Other non-interest income 2 2 Non-interest income from contracts with customers $ 247 $ 259 Total Non-interest Income $ 1,224 $ 443

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Note 5 – Earnings Per Share Basic earnings per common share is computed based on the weighted average number of shares outstanding reduced by unearned Employee Stock Ownership Plan (“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, 2020, there were no restricted shares issued . There were no stock options granted during the three months ended December 31, 2020 , which are considered CSEs. 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, 2020 2019 (In thousands, except share data) Net Income $ 2,273 $ 785 Weighted average shares outstanding 7,609,953 7,764,383 Average unearned ESOP shares (84,145 ) (98,541 ) Basic weighted average shares outstanding 7,525,808 7,665,842 Plus: effect of potential dilutive common stock equivalents - stock options 568 - Diluted weighted average common shares outstanding 7,526,376 7,665,842 Earnings per common share: Basic $ 0.30 $ 0.10 Diluted $ 0.30 $ 0.10

Employee Stock Ownership Plan

Employee Stock Ownership Plan	3 Months Ended
	Dec. 31, 2020
Employee Stock Ownership Plan E S O P Shares In E S O P [Abstract]
Employee Stock Ownership Plan	Note 6 – Employee Stock Ownership Plan The Company maintains an 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 Company common stock for approximately $2.6 million, at 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, which bears an interest rate of 5%, is being repaid in quarterly installments through 2026 principally from the Bank’s contributions to the ESOP. released to participants proportionately as the ESOP loan is repaid. During each of the three months ended December 31, 2020 and 2019, there were 3,600 shares, committed to be released. At December 31, 2020, there were 82,365 unallocated shares and 176,853 allocated shares held by the ESOP. The unallocated shares had an aggregate fair value of approximately $1.3 million at December 31,

Investment Securities

Investment Securities	3 Months Ended
	Dec. 31, 2020
Investments Debt And Equity Securities [Abstract]
Investment Securities	Note 7 - Investment Securities The Company’s investment securities are classified as available-for-sale or held-to-maturity at December 31, 2020 and at September 30, 2020. 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. Held-to-maturity securities, which are carried at amortized cost, are investments where there is positive intent and ability to hold to maturity. 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, 2020 and September 30, 2020: December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Investment Securities Available-for-Sale: U.S. government agencies $ 5,012 $ 8 $ - $ 5,020 State and municipal obligations 2,675 3 - 2,678 Single issuer trust preferred security 1,000 - (92 ) 908 Corporate debt securities 25,032 222 (156 ) 25,098 Mutual funds 1,520 - - 1,520 Total $ 35,239 $ 233 $ (248 ) $ 35,224 Investment Securities Held-to-Maturity: State and municipal obligations $ 1,785 $ 128 $ - $ 1,913 Corporate debt securities 3,469 233 - 3,702 Mortgage-backed securities: Collateralized mortgage obligations (“CMO”), fixed-rate 8,907 223 - 9,130 Total $ 14,161 $ 584 $ - $ 14,745 Total investment securities $ 49,400 $ 817 $ (248 ) $ 49,969 September 30, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Investment Securities Available-for-Sale: U.S. government agencies $ 5,025 $ 15 $ - $ 5,040 State and municipal obligations 3,101 4 - 3,105 Single issuer trust preferred security 1,000 - (75 ) 925 Corporate debt securities 21,009 182 (243 ) 20,948 Mutual fund 1,523 - - 1,523 Total $ 31,658 $ 201 $ (318 ) $ 31,541 Investment Securities Held-to-Maturity: State and municipal obligations $ 1,794 $ 129 $ - $ 1,923 Corporate debt securities 3,498 260 - 3,758 Mortgage-backed securities: CMO, fixed-rate 9,678 249 - 9,927 Total $ 14,970 $ 638 $ - $ 15,608 Total investment securities $ 46,628 $ 839 $ (318 ) $ 47,149 For t he three months ended December 31, 2020, proceeds of available-for-sale investment securities sold amounted to approximately $6.8 million. There were gains of approximately $355,000 associated with these sales. There were no available-for-sale investment securities sold during the three months ended December 31, 2019. 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, 2020 and September 30, 2020 : December 31, 2020 Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Investment Securities Available for Sale: Single issuer trust preferred security $ - $ - $ 908 $ (92 ) $ 908 $ (92 ) Corporate debt securities 2,495 (5 ) 3,349 (151 ) 5,844 (156 ) Total investment securities $ 2,495 $ (5 ) $ 4,257 $ (243 ) $ 6,752 $ (248 ) September 30, 2020 Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Investment Securities Available for Sale: Single issuer trust preferred security $ - $ - $ 925 $ (75 ) $ 925 $ (75 ) Corporate debt securities 4,426 (74 ) 3,330 (169 ) 7,756 (243 ) Total investment securities $ 4,426 $ (74 ) $ 4,255 $ (244 ) $ 8,681 $ (318 ) As of December 31, 2020, 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, 2020, the Company held Investment securities having a carrying value of approximately $9.4 million and $4.6 million at December 31, 2020 and September 30, 2020, respectively, were pledged to secure deposits. No investment securities were pledged to secure hedges at December 31, 2020 or September 30, 2020. The following table presents information for investment securities at December 31, 2020, based on scheduled maturities. Actual maturities can be expected to differ from scheduled maturities due to prepayment or early call options of the issuer. December 31, 2020 Amortized Cost Fair Value (In thousands) Available-for-Sale: Over 1 year through five years $ 6,675 $ 6,528 After 5 years through ten years 22,052 22,178 Over 10 years 6,512 6,518 Total $ 35,239 $ 35,224 Held-to-Maturity: Over 1 year through five years $ 4,581 $ 4,892 After 5 years through ten years 1,098 1,161 Mortgage-backed securities: CMO, fixed-rate 8,482 8,692 Total $ 14,161 $ 14,745 Total investment securities $ 49,400 $ 49,969

Loans Receivable and Related Al

Loans Receivable and Related Allowance for Loan Losses	3 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Loans Receivable and Related Allowance for Loan Losses	Note 8 - 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, 2020 September 30, 2020 (In thousands) Residential mortgage $ 232,481 $ 242,090 Construction and Development: Residential and commercial 73,000 65,703 Land 3,648 3,110 Total Construction and Development 76,648 68,813 Commercial: Commercial real estate 478,808 495,398 Farmland 7,378 7,517 Multi-family 67,457 67,767 Commercial and industrial 101,852 116,584 Other 10,010 10,142 Total Commercial 665,505 697,408 Consumer: Home equity lines of credit 16,389 17,128 Second mortgages 9,097 10,711 Other 2,388 2,851 Total Consumer 27,874 30,690 Total loans 1,002,508 1,039,001 Deferred loan fees and costs, net 873 326 Allowance for loan losses (13,035 ) (12,433 ) Total loans receivable, net $ 990,346 $ 1,026,894 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, 2020 and September 30, 2020. Activity in the ALLL is presented for the three months ended December 31, 2020 and 2019 and the fiscal year ended September 30, 2020: Construction and Development Commercial Consumer Residential Mortgage Residential and Commercial Land Commercial Real Estate Farmland Multi- Family Commercial and Industrial Other Home Equity Lines of Credit Second Mortgages Other Unallocated Total Allowance for loan losses: (In thousands) Three Months Ended December 31, 2020 Beginning balance $ 1,667 $ 465 $ 23 $ 8,682 $ 47 $ 511 $ 578 $ 51 $ 130 $ 196 $ 29 $ 54 $ 12,433 Charge-offs - - - - - - - - - - (1 ) - (1 ) Recoveries 1 - - 1 - - 1 - - 50 - - 53 Provisions (65 ) 43 1 (710 ) 305 (3 ) 21 (1 ) (5 ) (67 ) (3 ) 1,034 550 Ending balance $ 1,603 $ 508 $ 24 $ 7,973 $ 352 $ 508 $ 600 $ 50 $ 125 $ 179 $ 25 $ 1,088 $ 13,035 Ending balance: individually evaluated for impairment $ - $ - $ - $ 209 $ 317 $ - $ - $ - $ - $ 78 $ - $ - $ 604 Ending balance: collectively evaluated for impairment $ 1,603 $ 508 $ 24 $ 7,764 $ 35 $ 508 $ 600 $ 50 $ 125 $ 101 $ 25 $ 1,088 $ 12,431 Loans receivable: Ending balance $ 232,481 $ 73,000 $ 3,648 $ 478,808 $ 7,378 $ 67,457 $ 101,852 $ 10,010 $ 16,389 $ 9,097 $ 2,388 $ 1,002,508 Ending balance: individually evaluated for impairment $ 3,721 $ - $ - $ 25,547 $ 2,287 $ - $ 549 $ - $ 73 $ 365 $ - $ 32,542 Ending balance: collectively evaluated for impairment $ 228,760 $ 73,000 $ 3,648 $ 453,261 $ 5,091 $ 67,457 $ 101,303 $ 10,010 $ 16,316 $ 8,732 $ 2,388 $ 969,966 Construction and Development Commercial Consumer Residential Mortgage Residential and Commercial Land Commercial Real Estate Farmland Multi- Family Commercial and Industrial Other Home Equity Lines of Credit Second Mortgages Other Unallocated Total Allowance for loan losses: (In thousands) Three Months Ended December, 2019 Beginning balance $ 1,364 $ 523 $ 20 $ 5,903 $ 49 $ 369 $ 615 $ 21 $ 122 $ 267 $ 23 $ 819 $ 10,095 Charge-offs - - - (2,288 ) - - - - - (2 ) - - (2,290 ) Recoveries - - - 1 - - - - - 6 - - 7 Provisions (82 ) 62 (2 ) 2,578 (11 ) (173 ) (151 ) 12 (21 ) (36 ) - (26 ) 2,150 Ending balance $ 1,282 $ 585 $ 18 $ 6,194 $ 38 $ 196 $ 464 $ 33 $ 101 $ 235 $ 23 $ 793 $ 9,962 Ending balance: individually evaluated for impairment $ - $ - $ - $ 112 $ - $ - $ - $ - $ - $ 98 $ - $ - $ 210 Ending balance: collectively evaluated for impairment $ 1,282 $ 585 $ 18 $ 6,082 $ 38 $ 196 $ 464 $ 33 $ 101 $ 137 $ 23 $ 793 $ 9,752 Loans receivable: Ending balance $ 234,738 $ 49,095 $ 3,625 $ 521,495 $ 7,563 $ 43,473 $ 99,494 $ 8,569 $ 18,372 $ 13,179 $ 2,160 $ 1,001,763 Ending balance: individually evaluated for impairment $ 3,527 $ - $ - $ 7,649 $ - $ - $ - $ - $ 29 $ 902 $ - $ 12,107 Ending balance: collectively evaluated for impairment $ 231,211 $ 49,095 $ 3,625 $ 513,846 $ 7,563 $ 43,473 $ 99,494 $ 8,569 $ 18,343 $ 12,277 $ 2,160 $ 989,656 Construction and Development Commercial Consumer Residential Mortgage Residential and Commercial Land Commercial Real Estate Farmland Multi- Family Commercial and Industrial Other Home Equity Lines of Credit Second Mortgages Other Unallocated Total Allowance for loan losses: (In thousands) Year Ended September 30, 2020 Beginning balance $ 1,364 $ 523 $ 20 $ 5,903 $ 49 $ 369 $ 615 $ 21 $ 122 $ 267 $ 23 $ 819 $ 10,095 Charge-offs - - - (8,330 ) - - - - (62 ) (3 ) (1 ) - (8,396 ) Recoveries 25 - - 6 - - 2 - 1 88 2 - 124 Provisions 278 (58 ) 3 11,103 (2 ) 142 (39 ) 30 69 (156 ) 5 (765 ) 10,610 Ending balance $ 1,667 $ 465 $ 23 $ 8,682 $ 47 $ 511 $ 578 $ 51 $ 130 $ 196 $ 29 $ 54 $ 12,433 Ending balance: individually evaluated for impairment $ - $ - $ - $ 227 $ - $ - $ - $ - $ - $ 81 $ - $ - $ 308 Ending balance: collectively evaluated for impairment $ 1,667 $ 465 $ 23 $ 8,455 $ 47 $ 511 $ 578 $ 51 $ 130 $ 115 $ 29 $ 54 $ 12,125 Loans receivable: Ending balance $ 242,090 $ 65,703 $ 3,110 $ 495,398 $ 7,517 $ 67,767 $ 116,584 $ 10,142 $ 17,128 $ 10,711 $ 2,851 $ 1,039,001 Ending balance: individually evaluated for impairment $ 3,388 $ - $ - $ 25,926 $ - $ - $ - $ - $ 26 $ 882 $ - $ 30,222 Ending balance: collectively evaluated for impairment $ 238,702 $ 65,703 $ 3,110 $ 469,472 $ 7,517 $ 67,767 $ 116,584 $ 10,142 $ 17,102 $ 9,829 $ 2,851 $ 1,008,779 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 loan 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. A ny unallocated portion of the ALLL 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 increase in impaired loans with no specific allowance is primarily due to one commercial farmland loan of approximately $2.3 million. table presents impaired loans in the 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, 2020 and September 30, 2020: 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, 2020 Residential mortgage $ - $ - $ 3,721 $ 3,721 $ 3,979 Commercial: Commercial real estate 363 209 25,184 25,547 30,519 Farmland 2,287 317 - 2,287 2,287 Commercial and industrial - - 549 549 549 Consumer: Home equity lines of credit - - 73 73 77 Second mortgages 99 78 266 365 415 Total impaired loans $ 2,749 $ 604 $ 29,793 $ 32,542 $ 37,826 September 30, 2020 Residential mortgage $ - $ - $ 3,388 $ 3,388 $ 3,598 Commercial: Commercial real estate 676 227 25,250 25,926 36,945 Consumer: Home equity lines of credit - - 26 26 30 Second mortgages 101 81 781 882 949 Total impaired loans $ 777 $ 308 $ 29,445 $ 30,222 $ 41,522 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, 2020 and 2019: Three Months Ended December 31, 2020 Average Impaired Loans Interest Income Recognized on Impaired Loans (In thousands) Residential mortgage $ 3,483 $ 15 Commercial: Commercial real estate 25,727 105 Farmland 771 - Commercial and industrial 185 2 Consumer: Home equity lines of credit 74 - Second mortgages 700 1 Total $ 30,940 $ 123 Three Months Ended December 31, 2019 Average Impaired Loans Interest Income Recognized on Impaired Loans (In thousands) Residential mortgage $ 3,532 $ 22 Commercial: Commercial real estate 9,096 15 Consumer: Home equity lines of credit 29 - Second mortgages 845 9 Total $ 13,502 $ 46 The following table presents the classes of the loan portfolio categorized as pass, special mention, substandard and doubtful within the Company’s internal risk rating system as of December 31, 2020 and September 30, 2020: Pass Special Mention Substandard Doubtful Total (In thousands) December 31, 2020: Residential mortgage $ 228,646 $ - $ 3,835 $ - $ 232,481 Construction and Development: Residential and commercial 73,000 - - - 73,000 Land 3,648 - - - 3,648 Commercial: Commercial real estate 392,611 46,790 39,407 - 478,808 Farmland 5,091 - 2,287 - 7,378 Multi-family 58,025 9,432 - - 67,457 Commercial and industrial 94,914 6,277 661 - 101,852 Other 10,010 - - - 10,010 Consumer: Home equity lines of credit 16,232 - 157 - 16,389 Second mortgages 7,966 75 1,056 - 9,097 Other 2,388 - - - 2,388 Total $ 892,531 $ 62,574 $ 47,403 $ - $ 1,002,508 Pass Special Mention Substandard Doubtful Total (In thousands) September 30, 2020: Residential mortgage $ 238,610 $ - $ 3,480 $ - $ 242,090 Construction and Development: Residential and commercial 65,703 - - - 65,703 Land 3,110 - - - 3,110 Commercial: Commercial real estate 422,143 46,892 26,363 - 495,398 Farmland 7,517 - - - 7,517 Multi-family 58,285 9,482 - - 67,767 Commercial and industrial 110,099 6,368 117 - 116,584 Other 10,142 - - - 10,142 Consumer: Home equity lines of credit 16,969 - 159 - 17,128 Second mortgages 9,573 76 1,062 - 10,711 Other 2,851 - - - 2,851 Total $ 945,002 $ 62,818 $ 31,181 $ - $ 1,039,001 The following table presents loans that are no longer accruing interest as of December 31, 2020 and September 30, 2020, by portfolio class: December 31, 2020 September 30, 2020 (In thousands) Non-accrual loans: Residential mortgage $ 1,916 $ 2,036 Commercial: Commercial real estate 14,042 14,414 Consumer: Home equity lines of credit 73 26 Second mortgages 209 254 Total non-accrual loans $ 16,240 $ 16,730 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 non-accrual loans had they been current in accordance with their original terms was approximately $138,000 for the three months ended December 31, 2020, and three months ended December 31, 2019 Management monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio and categorizing each loan as “current”, meaning payment is received from a borrower by the scheduled due date, or by the length of time a scheduled payment is past due. The following table presents the classes of the loan portfolio categorized by the aging categories described above as of December 31, 2020 and September 30, 2020: 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, 2020: Residential mortgage $ 228,711 $ 1,678 $ 520 $ 1,572 $ 3,770 $ 232,481 $ 710 Construction and Development: Residential and commercial 73,000 - - - - 73,000 - Land 3,648 - - - - 3,648 - Commercial: Commercial real estate 464,949 13,859 - - 13,859 478,808 - Farmland 5,091 2,287 - - 2,287 7,378 - Multi-family 67,457 - - - - 67,457 - Commercial and industrial 98,898 2,954 - - 2,954 101,852 - Other 10,010 - - - - 10,010 - Consumer: Home equity lines of credit 16,230 86 - 73 159 16,389 - Second mortgages 8,669 197 54 177 428 9,097 65 Other 2,387 1 - - 1 2,388 - Total $ 979,050 $ 21,062 $ 574 $ 1,822 $ 23,458 $ 1,002,508 $ 775 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, 2020: Residential mortgage $ 239,623 $ 68 $ 694 $ 1,705 $ 2,467 $ 242,090 $ - Construction and Development: Residential and commercial 65,703 - - - - 65,703 - Land 3,110 - - - - 3,110 - Commercial: Commercial real estate 495,087 - - 311 311 495,398 - Farmland 7,517 - - - - 7,517 - Multi-family 67,767 - - - - 67,767 - Commercial and industrial 116,584 - - - - 116,584 - Other 10,142 - - - - 10,142 - Consumer: Home equity lines of credit 17,080 - - 48 48 17,128 48 Second mortgages 10,325 157 33 196 386 10,711 10 Other 2,850 - 1 - 1 2,851 - Total $ 1,035,788 $ 225 $ 728 $ 2,260 $ 3,213 $ 1,039,001 $ 58 Restructured loans deemed to be TDRs are typically the result of an extension of the loan maturity date or a reduction of the interest rate of the loan to a rate that is below market, a combination of rate and maturity extension, or by other means, including covenant modifications, forbearance and other concessions. However, the Bank generally restructures loans by modifying the payment structure to require payments of interest only for a specified period or by reducing the actual interest rate. Once a loan becomes a TDR, it will continue to be reported as a TDR during the term of the restructure. The Company had 28 and 26 loans classified as TDRs at December 31, 2020 and September 30, 2020, respectively, with an aggregate outstanding balance of $24.4 million and $21.7 million, respectively. At December 31, 2020, these loans were also classified as impaired. 20 of the TDR loans continue to perform under the restructured terms through December 31, 2020 and we continued to accrue interest on such loans through such date. Loans that have been classified as TDRs have modified 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 ALLL. The level of any defaults will likely be affected by future economic conditions. A default on a TDR 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 cases where, 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 Financial 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 $624,000 and $175,000 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) December 31, 2020: Residential mortgage 17 $ 3,359 7 $ 1,553 Commercial: Commercial real estate 5 18,021 1 6,591 Farmland 1 2,287 - - Commercial and industrial 1 549 - - Consumer: Second mortgages 4 156 - - Total 28 $ 24,372 8 $ 8,144 September 30, 2020: Residential mortgage 17 $ 3,435 7 $ 1,617 Commercial: Commercial real estate 5 18,091 1 6,652 Consumer: Second mortgages 4 161 - - Total 26 $ 21,687 8 $ 8,269 The following table reports the performing status of all TDR loans. The performing status is determined by a loan’s compliance with the modified terms: December 31, 2020 September 30, 2020 Performing Non-Performing Performing Non-Performing (In thousands) Residential mortgage $ 1,806 $ 1,553 $ 1,818 $ 1,617 Commercial: Commercial real estate 11,431 6,591 11,439 6,652 Farmland 2,287 - - - Commercial and industrial 549 - - - Consumer: Second mortgages 156 - 161 - Total $ 16,229 $ 8,144 $ 13,418 $ 8,269 The following table shows the new TDRs for the three months ended December 31, 2020 and 2019: For the Three Months Ended December 31, 2020 2019 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 (In thousands) Troubled Debt Restructurings: Residential mortgage - $ - $ - 1 $ 207 $ 207 Commercial: Commercial real estate - $ - $ - 1 $ 295 $ 295 Farmland 1 $ 2,287 $ 2,287 - $ - $ - Commercial and industrial 1 $ 549 $ 549 - $ - $ - Total troubled debt restructurings 2 $ 2,836 $ 2,836 2 $ 502 $ 502 Under Section 4013 of the CARES Act, and separately based upon regulatory guidance promulgated by federal banking regulators (collectively “Interagency Statement”), qualifying short-term loan modifications resulting in payment deferrals that are attributable to the adverse impact of COVID-19, are not considered to be TDRs. As such, the applicable loans are reported as current with regard to payment status and continue to accrue interest during the payment deferral period. had 16 COVID-19 modified loan deferrals totaling approximately $68.9 million. At September 30, 2020, the Company had 43 COVID-19 modified loan deferrals totaling approximately $144.8 million. The following tables set forth the composition of these loans by loan segments as of December 31, 2020 and September 30, 2020: December 31, 2020 Number of Loans Loan Deferment Exposure Gross Loans December 31, 2020 Percentage of Gross Loans on Deferral (Dollars in thousands) Residential mortgage 5 $ 934 $ 232,481 0.09 % Construction and Development: Residential and commercial - - 73,000 0.00 % Land loans - - 3,648 0.00 % Total Construction and Development - - 76,648 0.00 % Commercial: Commercial real estate 7 67,082 478,808 6.69 % Farmland - - 7,378 0.00 % Multi-family 1 717 67,457 0.08 % Commercial and industrial 1 22 101,852 0.00 % Other - - 10,010 0.00 % Total Commercial 9 67,821 665,505 6.77 % Consumer: Home equity lines of credit 1 131 16,389 0.01 % Second mortgages 1 17 9,097 0.00 % Other - - 2,388 0.00 % Total Consumer 2 148 27,874 0.01 % Total loans 16 $ 68,903 $ 1,002,508 6.87 % September 30, 2020 Number of Loans Loan Deferment Exposure Gross Loans September 30, 2020 Percentage of Gross Loans on Deferral (Dollars in thousands) Residential mortgage 5 $ 1,288 $ 242,090 0.12 % Construction and Development: Residential and commercial - - 65,703 0.00 % Land loans - - 3,110 0.00 % Total Construction and Development - - 68,813 0.00 % Commercial: Commercial real estate 21 131,348 495,398 12.64 % Farmland 1 2,288 7,517 0.22 % Multi-family 2 3,718 67,767 0.36 % Commercial and industrial 10 5,547 116,584 0.53 % Other - - 10,142 0.00 % Total Commercial 34 142,901 697,408 13.75 % Consumer: Home equity lines of credit 3 579 17,128 0.06 % Second mortgages 1 17 10,711 0.00 % Other - - 2,851 0.00 % Total Consumer 4 596 30,690 0.06 % Total loans 43 $ 144,785 $ 1,039,001 13.94 %

Regulatory Matters

Regulatory Matters	3 Months Ended
	Dec. 31, 2020
Regulatory Matters Disclosure [Abstract]
Regulatory Matters	Note 9 - Regulatory Matters Regulatory Capital Requirements 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 Company’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 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 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, 2020, the Company’s and the Bank’s current capital levels exceed the required capital amounts to be considered “well capitalized” and they also meet the fully-phased in minimum capital requirements, including the related capital conservation buffers, as required by the Basel III capital rules. The following table summarizes the Company’s compliance with applicable regulatory capital requirements as of December 31, 2020 and September 30, 2020: Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of December 31, 2020 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 144,059 11.76 % $ 48,991 4.00 % N/A N/A Common Equity Tier 1 Capital (to risk weighted assets) 144,059 14.30 % 45,347 4.50 % N/A N/A Tier 1 Capital (to risk weighted assets) 144,059 14.30 % 60,462 6.00 % N/A N/A Total Risk Based Capital (to risk weighted assets) 151,478 18.01 % 80,616 8.00 % N/A N/A As of September 30, 2020 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 141,681 11.63 % $ 48,473 4.00 % N/A N/A Common Equity Tier 1 Capital (to risk weighted assets) 141,681 14.00 % 45,528 4.50 % N/A N/A Tier 1 Capital (to risk weighted assets) 141,681 14.00 % 60,704 6.00 % N/A N/A Total Risk Based Capital (to risk weighted assets) 178,972 17.69 % 80,939 8.00 % N/A N/A The following table summarizes the Bank’s compliance with applicable regulatory capital requirements as of December 31, 2020 and September 30, 2020 : Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of December 31, 2020 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 158,399 12.95 % $ 48,929 4.00 % $ 61,162 5.00 % Common Equity Tier 1 Capital (to risk weighted assets) 158,399 15.74 % 45,272 4.50 % 65,393 6.50 % Tier 1 Capital (to risk weighted assets) 158,399 15.74 % 60,363 6.00 % 80,484 8.00 % Total Risk Based Capital (to risk weighted assets) 170,982 17.00 % 80,484 8.00 % 100,605 10.00 % As of September 30, 2020 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 155,575 12.78 % $ 48,685 4.00 % $ 60,856 5.00 % Common Equity Tier 1 Capital (to risk weighted assets) 155,575 15.40 % 45,459 4.50 % 65,663 6.50 % Tier 1 Capital (to risk weighted assets) 155,575 15.40 % 60,612 6.00 % 80,816 8.00 % Total Risk Based Capital (to risk weighted assets) 168,090 16.64 % 80,816 8.00 % 101,020 10.00 %

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Dec. 31, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Note 10 – 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 (loss) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. At December 31, 2020, such derivatives were used to hedge the variable cash flows associated with FHLB advances. Amounts reported in accumulated other comprehensive income (loss) 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 $787,000 to be reclassified to earnings as an increase to 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. 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 present the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition as of December 31, 2020 and September 30, 2020: ` December 31, 2020 Asset derivatives Liability derivatives Notional Amount Fair Value Statement of Financial Condition Location Notional Amount Fair Value Statement of Financial Condition Location (In thousands) Derivatives designated as a hedging instrument: Interest rate swap agreement $ - $ - Other assets $ 90,000 $ 1,017 Other liabilities Derivatives not designated as a hedging instrument: Interest rate swap agreement $ 45,060 $ 7,488 Other assets $ 45,060 $ 7,492 Other liabilities September 30, 2020 Asset derivatives Liability derivatives Notional Amount Fair Value Statement of Financial Condition Location Notional Amount Fair Value Statement of Financial Condition Location (In thousands) Derivatives designated as a hedging instrument: Interest rate swap agreement $ - $ - Other assets $ 90,000 $ 1,291 Other liabilities Derivatives not designated as a hedging instrument: Interest rate swap agreement $ 45,162 $ 8,752 Other assets $ 45,162 $ 8,756 Other liabilities The tables below present the d erivative assets and liabilities offsetting as of December 31, 2020 and September 30, 2020 : Offsetting of Derivative Assets (In thousands) as of December 31, 2020 Gross Amounts Not Offset in the Statements of Financial Condition Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount Derivatives $ 7,488 $ - $ 7,488 $ - $ - $ 7,488 Offsetting of Derivative Liabilities (In thousands) as of December 31, 2020 Gross Amounts Not Offset in the Statements of Financial Condition Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities presented in the Statement of Financial Condition Financial Instruments Cash Collateral Posted Net Amount Derivatives $ 8,509 $ - $ 8,509 $ 1,230 $ 12,857 $ (5,578 ) Offsetting of Derivative Assets (In thousands) as of September 30, 2020 Gross Amounts Not Offset in the Statements of Financial Condition Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount Derivatives $ 8,752 $ - $ 8,752 $ - $ - $ 8,752 Offsetting of Derivative Liabilities (In thousands) as of September 30, 2020 Gross Amounts Not Offset in the Statements of Financial Condition Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities presented in the Statement of Financial Condition Financial Instruments Cash Collateral Posted Net Amount Derivatives $ 10,047 $ - $ 10,047 $ 1,498 $ 12,857 $ (4,308 ) The tables below present the net gains (losses) recorded in accumulated other comprehensive loss and the Consolidated Statements of Operations relating to the cash flow derivative instruments for the three months ended December 31, 2020 and 2019: Three Months Ended December 31, 2020 Amount of Loss Recognized in OCI on Derivative Amount of Loss Reclassified from OCI to Interest Expense (In thousands) Interest rate swap agreements $ (8 ) $ (280 ) Total derivatives (8 ) (280 ) Three Months Ended December 31, 2019 Amount of Gain Recognized in OCI on Derivative Amount of Loss Reclassified from OCI to Interest Expense (In thousands) Interest rate swap agreements $ 77 $ (14 ) Total derivatives 77 (14 ) The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations for the three months ended December 31, 2020 and 2019: Three Months Ended December 31, 2020 Consolidated Statements of Operations Amount of Gain (Loss) Recognized in Income on derivatives (In thousands) Derivatives not designated as a hedging instrument: Interest rate swap agreement Other income $ 1 Total $ 1 Three Months Ended December 31, 2019 Consolidated Statements of Operations Amount of Loss Recognized in Income on derivatives (In thousands) Derivatives not designated as a hedging instrument: Interest rate swap agreement Other income $ (3 ) Total $ (3 ) The Company has agreements with each of its derivative counterparties that contain a provision providing that if the Company defaults on any of its indebtedness, including defaults 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, 2020 and September 30, 2020, 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, 2020 and September 30, 2020. $12.9 million

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 11 - Fair Value Measurements The Company follows FASB ASC Topic 820 Fair Value Measurement 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— v aluation 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, 2020 or September 30, 2020. The tables below present the balances of assets measured at fair value on a recurring basis as of December 31, 2020 and September 30, 2020: December 31, 2020 Total Level 1 Level 2 Level 3 (In thousands) Assets: Investment securities available for sale: Debt securities: U.S. government agencies $ 5,020 $ - $ 5,020 $ - State and municipal obligations 2,678 - 2,678 - Single issuer trust preferred security 908 - 908 - Corporate debt securities 25,098 - 25,098 - Mutual funds 1,520 1,020 - 500 Total investment securities available for sale $ 35,224 $ 1,020 $ 33,704 $ 500 Derivative instruments $ 7,488 $ - $ 7,488 $ - Liabilities: Derivative instruments $ 8,509 $ - $ 8,509 $ - September 30, 2020 Total Level 1 Level 2 Level 3 (In thousands) Assets: Investment securities available for sale: Debt securities: U.S. government agencies $ 5,040 $ - $ 5,040 $ - State and municipal obligations 3,105 - 3,105 - Single issuer trust preferred security 925 - 925 - Corporate debt securities 20,948 - 20,948 - Mutual fund 1,523 1,023 - 500 Total investment securities available for sale $ 31,541 $ 1,023 $ 30,018 $ 500 Derivative instruments $ 8,752 $ - $ 8,752 $ - Liabilities: Derivative instruments $ 10,047 $ - $ 10,047 $ - The following tables present additional information about the securities available-for-sale measured at fair value on a recurring basis and for which the Company utilized significant unobservable inputs (Level 3 inputs) to determine fair value for the three months ended December 31, 2020 and December 31, 2019. Fair value measurements using significant unobservable inputs (Level 3) (In thousands) Balance, October 1, 2020 $ 500 Payments received - Total gains or losses (realized/unrealized) Included in earnings - Included in other comprehensive income - Purchases - Transfers in and/or out of Level 3 - Balance, December 31, 2020 $ 500 Fair value measurements using significant unobservable inputs (Level 3) (In thousands) Balance, October 1, 2019 $ 250 Payments received - Total gains or losses (realized/unrealized) Included in earnings - Included in other comprehensive income - Purchases 250 Transfers in and/or out of Level 3 - Balance, December 31, 2019 $ 500 The majority of the Company’s available for sale investment securities are reported at fair value utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the securities’ terms and conditions, among other things. From time to time, the Company validates prices supplied by the independent pricing service by comparison to prices obtained from third-party sources or derived using internal models. 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, 2020 and September 30, 2020: December 31, 2020 Total Level 1 Level 2 Level 3 (In thousands) Other real estate owned $ 5,796 $ - $ - $ 5,796 Impaired loans (1) 9,597 - - 9,597 Total $ 15,393 $ - $ - $ 15,393 December 31, 2020 Fair Value at December 31, 2020 Valuation Technique Unobservable Input Range/(Weighted Average) (Dollars in thousands) Other real estate owned $ 5,796 Appraisal of Collateral(2) Collateral discount(3) 0%/(0%) Impaired loans (1) 9,597 Appraisal of Collateral(2) Collateral discount(3) (2.0%)-20.0%/(1.4%) Total $ 15,393 (1) Consisted of seven loans with an aggregate balance of $10.2 million and with $604,000 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, 2020 Total Level 1 Level 2 Level 3 (In thousands) Other real estate owned $ 5,796 $ - $ - $ 5,796 Impaired loans (1) 7,920 - - 7,920 Total $ 13,716 $ - $ - $ 13,716 September 30, 2020 Fair Value at September 30, 2020 Valuation Technique Unobservable Input Range/(Weighted Average) (Dollars in thousands) Other real estate owned $ 5,796 Appraisal of Collateral(2) Collateral discount(3) 0%/(0%) Impaired loans (1) 7,920 Appraisal of Collateral(2) Collateral discount(3) (2.0%) - 20.0%/(1.4%) Total $ 13,716 (1) Consisted of seven loans with an aggregate balance of $8.2 million and with $308,000 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. At December 31, 2020 and September 30, 2020, the Company did not have any additions to our mortgage servicing assets. At December 31, 2020 the Company sold loans with servicing released. At September 30, 2020, 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, 2020 and September 30, 2020. 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, 2020 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), and equity securities (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 ALLL. 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, 2020 and September 30, 2020 are presented below: December 31, 2020 Carrying Amount Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 109,222 $ 109,222 $ 109,222 $ - $ - Investment securities available-for-sale 35,224 35,224 1,020 33,704 500 Investment securities held-to-maturity 14,161 14,745 - 14,745 - Loans receivable, net (including impaired loans) 990,346 998,545 - - 998,545 Accrued interest receivable 4,051 4,051 - 4,051 - Restricted stock 9,327 9,327 - 9,327 - Mortgage servicing rights (included in Other Assets) 87 87 - 87 - Derivatives (included in Other Assets) 7,488 7,488 - 7,488 - Financial liabilities: Savings accounts 46,531 46,531 - 46,531 - Checking and NOW accounts 352,799 352,799 - 352,799 - Money market accounts 303,796 303,796 - 303,796 - Certificates of deposit 197,339 199,959 - 199,959 - Borrowings (excluding sub debt) 135,000 135,706 - 135,706 - Subordinated debt 24,816 24,845 - 24,845 - Derivatives (included in Other Liabilities) 8,509 8,509 - 8,509 - Accrued interest payable 1,078 1,078 - 1,078 - September 30, 2020 Carrying Amount Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 61,439 $ 61,439 $ 61,439 $ - $ - Investment securities available-for-sale 31,541 31,541 1,023 30,018 500 Investment securities held-to-maturity 14,970 15,608 - 15,608 - Loans receivable, net (including impaired loans) 1,031,392 1,039,981 - - 1,039,981 Accrued interest receivable 3,677 3,677 - 3,677 - Restricted stock 9,622 9,622 - 9,622 - Mortgage servicing rights (included in Other Assets) 111 111 - 111 - Derivatives (included in Other Assets) 8,752 8,752 - 8,752 - Financial liabilities: Savings accounts 45,072 45,072 - 45,072 - Checking and NOW accounts 354,104 354,104 - 354,104 - Money market accounts 277,711 277,711 - 277,711 - Certificates of deposit 214,019 217,212 - 217,212 - Borrowings (excluding sub debt) 134,225 135,101 - 135,101 - Subordinated debt 24,776 25,030 - 25,030 - Derivatives (included in Other Liabilities) 10,047 10,047 - 10,047 - Accrued interest payable 728 728 - 728 -

Comprehensive Income (Loss)

Comprehensive Income (Loss)	3 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Comprehensive Income (Loss)	Note 12 – Comprehensive Income (Loss) The components of accumulated other comprehensive loss included in shareholders’ equity are as follows: December 31, 2020 September 30, 2020 (In thousands) Net unrealized holding losses on available-for-sale securities $ (15 ) $ (118 ) Tax effect 3 25 Net of tax amount (12 ) (93 ) Fair value adjustments on derivatives (989 ) (1,260 ) Tax effect 208 265 Net of tax amount (781 ) (995 ) Total accumulated other comprehensive loss $ (793 ) $ (1,088 ) Other comprehensive income and related tax effects are presented in the following table: Three Months Ended December 31, 2020 2019 (In thousands) Net unrealized holding (losses) gains on available-for-sale securities $ 457 $ 71 Net realized gain on securities available-for-sale (355 ) - Amortization of unrealized holding losses on securities transferred from available-for-sale to held-to-maturity 1 1 Adjustment for loss recorded on replacement of derivative (2 ) - Fair value adjustments on derivatives 273 91 Other comprehensive income before taxes 374 163 Tax effect (79 ) (34 ) Total other comprehensive income $ 295 $ 129

Equity Based Incentive Compensa

Equity Based Incentive Compensation Plan	3 Months Ended
	Dec. 31, 2020
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, 2020, there were 318,651 remaining shares available for future grants. Restricted stock and option awards granted vest annually 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 stock 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. The Company did not grant any stock options during the three months ended December 31, 2020 and December 31, 2019. Total compensation expense related to stock options granted under the 2014 Plan was approximately $8,000 and $6,000 for the three months ended December 31, 2020 and December 31, 2019, respectively. The Company did not award restricted shares during the three months ended December 31, 2020. The compensation expense related to restricted stock awards was approximately $44,000 during the three months ended December 31, 2020. During the three months ended December 31, 2019 a total of restricted shares were awarded. During the three months ended December 31, 2019 1,610 shares were forfeited. T he compensation expense related to restricted stock awards was approximately $ during the three months ended December 31, 2019 . 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, 2020: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (In Years) Aggregate Intrinsic Value Outstanding, beginning of year 25,830 $ 21.57 $ - Granted - $ - $ - Exercised - $ - $ - Forfeited/cancelled/expired - $ - $ - Outstanding, at December 31, 2020 25,830 $ 21.57 6.599 $ - Exercisable, at December 31, 2020 9,310 $ 22.09 8.113 $ - Nonvested, at December 31, 2020 16,520 $ 21.28 As of December 31, 2020, there was approximately $76,000 of total unrecognized compensation cost related to nonvested stock options under the 2014 Plan. The cost is expected to be recognized over a weighted average period of 3.00 years. Restricted Stock Awards The table below summarizes the activity for the Company’s restricted stock outstanding during the three months ended December 31, 2020: Shares Weighted Average Fair Value Outstanding, beginning of year 30,653 $ 21.98 Granted - $ - Vested (859 ) $ 21.01 Forfeited/cancelled/expired - $ - Outstanding, end of year 29,794 $ 22.00 As of December 31, 2020, there was approximately $318,000 of total unrecognized compensation cost related to nonvested shares of restricted stock granted under the 2014 Plan. The cost is expected to be recognized over a weighted average period of 3.38 years.

Deposits

Deposits	3 Months Ended
	Dec. 31, 2020
Deposits [Abstract]
Deposits	Note 14 – Deposits Deposits classified by type with percentages to total deposits at December 31, 2020 and September 30, 2020 consisted of the following: December 31, September 30, 2020 2020 (Dollars in thousands) Balances by types of deposit: Savings $ 46,531 5.17 % $ 45,072 5.06 % Money market accounts 303,796 33.73 277,711 31.17 Interest-bearing demand 303,535 33.71 303,682 34.09 Non-interest-bearing demand 49,264 5.47 50,422 5.66 703,126 78.08 % 676,887 75.98 % Certificates of deposit 197,339 21.92 % 214,019 24.02 % Total Deposits $ 900,465 100.00 % $ 890,906 100.00 % The total amount of certificates of deposit of $250,000 and greater at December 31, 2020 and September 30, 2020 was $54.4 million and $48.4 million, respectively. We had totaling $6.1 million Interest expense on deposits consisted of the following: Three Months Ended December 31, 2020 2019 (In thousands) Savings accounts $ 18 $ 11 Money market accounts 791 1,098 Interest-bearing demand 547 1,181 Certificates of deposit 901 1,447 Total $ 2,257 $ 3,737 As of December 31, 2020, the scheduled maturities of certificates of deposits are as follows: Scheduled Maturities (In thousands) Period Ending December 31, 2021 $ 138,051 2022 25,402 2023 17,107 2024 9,551 2025 5,685 Thereafter 1,543 Total $ 197,339 As of December 31, 2020, the scheduled maturities of certificates of deposits in amounts greater than $100,000 are as follows: Scheduled Maturities (In thousands) Period Ending December 31, Three months or less $ 43,247 Over three through six months 44,048 Over six through twelve months 14,609 Over twelve months 31,261 Total $ 133,165

Leases

Leases	3 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Note 15 – Leases The Company determines if an arrangement is a lease at inception. The Company adopted the guidance of ASC 842 Leases and recorded ROU assets and related lease liabilities of $3.3 million at October 1, 2019. Operating leases are included in operating lease ROU assets and operating lease liabilities on our consolidated statements of financial condition. ROU assets and operating lease liabilities are recognized based on the present value of the future lease payments over the lease term at commencement date. As our leases do not provide an implicit rate, in order to determine the present value of future payments for office leases we used our incremental borrowing rate based on the FHLB liquidity and funding rates. Our lease terms may include options to extend when it is reasonably certain that we will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. As of December 31, 2020, the Company leases one The components of lease expense were as follows: Three Months Ended December 31, 2020 2019 (In thousands) Operating lease cost $ 171 $ 175 Finance lease cost - - Short-term lease cost 22 25 Total $ 193 $ 200 Supplemental information at and for December 31, 2020 and the three months ended December 31, 2020 related to leases was as follows: December 31, 2020 (Dollars in thousands) Supplemental balance sheet information Operating lease right-of-use assets $ 2,479 Operating lease liabilities $ 2,512 Weighted average remaining lease term 5.24 years Weighted average discount rate 1.99 % Three Months Ended December 31, 2020 (In thousands) Supplemental cash flow information Operating cash flows from operating leases $ 172 ROU assets obtained in exchange for lease obligations $ 3,279 Maturities of lease liabilities were as follows: Operating Leases (In thousands) Period Ending September 30, Remainder of 2021 $ 426 2022 492 2023 474 2024 474 2025 477 Thereafter 269 Total lease payments $ 2,612 Less: imputed interest (100 ) Total $ 2,512

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2020
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 subsidiaries . All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements present the Company’s financial condition at December 31, 2020 and September 30, 2020 and the results of operations for the three months ended December 31, 2020 and 2019, and cash flows for the three months ended December 31, 2020 and 2019. 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 2020 Annual Report filed with the Securities and Exchange Commission (“SEC”). The consolidated statements of operations for the three months ended December 31, 2020 and the consolidated statements of cash flows for the three months ended December 31, 2020 are not necessarily indicative of the results of operations or cash flows for the full year ending September 30, 2021 or any interim period. Subsequent events have been evaluated through the date of the issuance of the unaudited Consolidated Financial Statements. No significant subsequent events have occurred through this date requiring adjustment to the financial statements or disclosures.
Operating, Accounting and Reporting Considerations related to COVID-19	Operating, Accounting and Reporting Considerations related to COVID-19 The COVID-19 pandemic has negatively impacted the global economy. In response to the crisis, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was passed by Congress and signed into law on March 27, 2020. The CARES Act provides an estimated $2.2 trillion to fight the COVID-19 pandemic and stimulate the economy by supporting individuals and businesses through loans, grants, tax changes, and other types of relief. Under Section 4013 of the CARES Act, and based upon regulatory guidance promulgated by federal banking regulators, qualifying short-term loan modifications resulting in payment deferrals that are attributable to the adverse impact of COVID-19, are not considered to be troubled debt restructurings (“TDRs”). • Accounting for Loan Modifications – The CARES A ct provides that a financial institution may elect to suspend (1) the requirements under GAAP for certain loan modifications that would otherwise be categorized as a TDR and (2) any determination that such loan modifications would be considered a TDR, including the related impairment for accounting purposes. The suspension is applicable for the term of the loan modification that occurs during the applicable period for a loan that was not more than 30 days past due as of December 31, 2019. The suspension is not applicable to any adverse impact on the credit of a borrower that is not related to the COVID-19 pandemic. • Paycheck Protection Program – The CARES Act established the Paycheck Protection Program (“PPP”), an expansion of the Small Business Administration’s 7(a) loan program and the Economic Injury Disaster Loan Program (“EIDL”), administrated directly by the Small Business Administration (“SBA”). • Mortgage Forbearance – Under the CARES Act, through the earlier of December 31, 2020, mortgage customers experiencing financial hardship due to COVID-19 may request forbearance on a loan for up to 30 days, with up to two additional 30-day periods at the borrower’s request. Also in response to the COVID-19 pandemic, the Board of Governors of the Federal Reserve System (“FRB”), the Federal Deposit Insurance Corporation (“FDIC”), the National Credit Union Administration (“NCUA”), the Office of the Comptroller of the Currency (“OCC”), and the Consumer Financial Protection Bureau (“CFPB”), in consultation with the state financial regulators (collectively, the “agencies”) issued a joint interagency statement (issued March 22, 2020; revised statement issued April 7, 2020). Some of the provisions applicable to the Company include, but are not limited to: • Accounting for Loan Modifications – Loan modifications that do not meet the conditions of the CARES Act may still qualify as a modification that does not need to be accounted for as a TDR. The agencies confirmed with the Financial Accounting Standards Board (“FASB”) staff that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who are current prior to any relief are not TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or insignificant delays in payments. Loan modifications were made in accordance with Section 4013 of the CARES Act and the Interagency Statement on Loan Modifications and Reporting for Financial Institutions working with customers affected by COVID-19 and therefore were not classified as TDRs. • Past Due Reporting – With regard to loans not otherwise reportable as past due, financial institutions are not expected to designate loans with deferrals granted due to COVID-19 as past due because of the deferral. A loan’s payment date is governed by the due date stipulated in the legal agreements. If a financial institution agrees to a payment deferral, these loans would not be considered past due during the period of the deferral. • Nonaccrual Status and Charge-offs – During short-term COVID-19 modifications, these loans generally should not be reported as nonaccrual or as classified.
Recent Accounting Pronouncements Yet to Be Adopted	Recent Accounting Pronouncements Yet to Be Adopted Reference Rate Reform. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) . The guidance allows for companies to: (1) account for certain contract modifications as a continuation of the existing contract without additional analysis; (2) continue hedge accounting when certain critical terms of a hedging relationship change and assess effectiveness in ways that disregard certain potential sources of ineffectiveness; and (3) make a one-time sale and/or transfer of certain debt securities from held-to-maturity to available-for-sale or trading. This ASU is available for adoption effective immediately, or as of January 1, 2020 or any date thereafter for the Company, and applies prospectively to contract modifications and hedging relationships. The one-time election to sell and/or transfer debt securities classified as held-to-maturity may be made at any time after March 12, 2020. The Company anticipates adopting this ASU and will continue to analyze the provisions of the ASU in connection with ongoing procedures to monitor the work of the Alternative Rates Committee of the FRB and Federal Reserve Bank of New York in identifying an alternative U.S. dollar reference interest rate. It is too early to predict a new rate index replacement, but we anticipate that it will be the Secured Overnight Financing Rate (“SOFR”). The adoption of this new requirement is not expected to have a material impact on the consolidated earnings, financial position or cash flows of the Company. Income Taxes. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740). This ASU identifies, evaluates, and improves areas of GAAP for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to users of financial statements. The ASU is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. The adoption of this new requirement is not expected to have a material impact on the consolidated earnings, financial position or cash flows of the Company. Credit Losses. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . This 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, this ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. In April 2019, the FASB issued ASU 2019-04, Codification Improvements , which provides guidance on accounting for credit losses on accrued interest receivable balances and guidance on including recoveries when estimating the allowance. In May 2019, the FASB issued ASU 2019-05, Targeted Transition Relief, which allows entities with an option to elect fair value for certain instruments upon adoption of Topic 326. This ASU will be effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted . The Bank has a software system in place to assist with the calculation of Current Expected Credit Losses (“CECL”). In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments-Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) making this ASU effective for interim and annual periods beginning after December 15, 2022. As such , the Company would be required to implement the ASU on October 1, 2023. In November 2019, the FASB issued ASU No. 2019-11, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, which provides guidance on stakeholders’ specific issues about certain aspects of the amendments in ASU 2016-13. The Company formed a cross functional implementation team to review the requirements of ASU 2016-13 and contracted with a third-party provider to assist in the development and implementation of the revised credit loss methodology. The impact on the consolidated earnings, financial position and cash flows of the Company upon adoption of this ASU are currently unknown.

Non-Interest Income (Tables)

Non-Interest Income (Tables)	3 Months Ended
	Dec. 31, 2020
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, 2020 2019 (In thousands) Rental income $ 54 $ 54 Net gains on sale and call of investments 355 - Net gains on sale of loans 404 3 Earnings on bank-owned life insurance 164 127 Non-interest income within the scope of other GAAP topics $ 977 $ 184 ATM fees $ 3 $ 2 Credit card fee income 5 6 DDA fee income 22 30 DDA service fees 24 19 Debit card fees 64 66 Other loan fee income 72 77 Other fee income 55 57 Other non-interest income 2 2 Non-interest income from contracts with customers $ 247 $ 259 Total Non-interest Income $ 1,224 $ 443

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2020
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, 2020 2019 (In thousands, except share data) Net Income $ 2,273 $ 785 Weighted average shares outstanding 7,609,953 7,764,383 Average unearned ESOP shares (84,145 ) (98,541 ) Basic weighted average shares outstanding 7,525,808 7,665,842 Plus: effect of potential dilutive common stock equivalents - stock options 568 - Diluted weighted average common shares outstanding 7,526,376 7,665,842 Earnings per common share: Basic $ 0.30 $ 0.10 Diluted $ 0.30 $ 0.10

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Dec. 31, 2020
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, 2020 and September 30, 2020: December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Investment Securities Available-for-Sale: U.S. government agencies $ 5,012 $ 8 $ - $ 5,020 State and municipal obligations 2,675 3 - 2,678 Single issuer trust preferred security 1,000 - (92 ) 908 Corporate debt securities 25,032 222 (156 ) 25,098 Mutual funds 1,520 - - 1,520 Total $ 35,239 $ 233 $ (248 ) $ 35,224 Investment Securities Held-to-Maturity: State and municipal obligations $ 1,785 $ 128 $ - $ 1,913 Corporate debt securities 3,469 233 - 3,702 Mortgage-backed securities: Collateralized mortgage obligations (“CMO”), fixed-rate 8,907 223 - 9,130 Total $ 14,161 $ 584 $ - $ 14,745 Total investment securities $ 49,400 $ 817 $ (248 ) $ 49,969 September 30, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Investment Securities Available-for-Sale: U.S. government agencies $ 5,025 $ 15 $ - $ 5,040 State and municipal obligations 3,101 4 - 3,105 Single issuer trust preferred security 1,000 - (75 ) 925 Corporate debt securities 21,009 182 (243 ) 20,948 Mutual fund 1,523 - - 1,523 Total $ 31,658 $ 201 $ (318 ) $ 31,541 Investment Securities Held-to-Maturity: State and municipal obligations $ 1,794 $ 129 $ - $ 1,923 Corporate debt securities 3,498 260 - 3,758 Mortgage-backed securities: CMO, fixed-rate 9,678 249 - 9,927 Total $ 14,970 $ 638 $ - $ 15,608 Total investment securities $ 46,628 $ 839 $ (318 ) $ 47,149
Schedule of aggregate investments in an unrealized loss position	The following tables indicate gross unrealized losses not recognized in income and fair value, aggregated by investment category, and the length of time individual securities have been in a continuous unrealized loss position at December 31, 2020 and September 30, 2020 : December 31, 2020 Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Investment Securities Available for Sale: Single issuer trust preferred security $ - $ - $ 908 $ (92 ) $ 908 $ (92 ) Corporate debt securities 2,495 (5 ) 3,349 (151 ) 5,844 (156 ) Total investment securities $ 2,495 $ (5 ) $ 4,257 $ (243 ) $ 6,752 $ (248 ) September 30, 2020 Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Investment Securities Available for Sale: Single issuer trust preferred security $ - $ - $ 925 $ (75 ) $ 925 $ (75 ) Corporate debt securities 4,426 (74 ) 3,330 (169 ) 7,756 (243 ) Total investment securities $ 4,426 $ (74 ) $ 4,255 $ (244 ) $ 8,681 $ (318 )
Schedule of amortized cost and fair value of debt securities by contractual maturity	The following table presents information for investment securities at December 31, 2020, based on scheduled maturities. Actual maturities can be expected to differ from scheduled maturities due to prepayment or early call options of the issuer. December 31, 2020 Amortized Cost Fair Value (In thousands) Available-for-Sale: Over 1 year through five years $ 6,675 $ 6,528 After 5 years through ten years 22,052 22,178 Over 10 years 6,512 6,518 Total $ 35,239 $ 35,224 Held-to-Maturity: Over 1 year through five years $ 4,581 $ 4,892 After 5 years through ten years 1,098 1,161 Mortgage-backed securities: CMO, fixed-rate 8,482 8,692 Total $ 14,161 $ 14,745 Total investment securities $ 49,400 $ 49,969

Loans Receivable and Related _2

Loans Receivable and Related Allowance for Loan Losses (Tables)	3 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Schedule of loans receivable	Loans receivable in the Company’s portfolio consisted of the following at the dates indicated below: December 31, 2020 September 30, 2020 (In thousands) Residential mortgage $ 232,481 $ 242,090 Construction and Development: Residential and commercial 73,000 65,703 Land 3,648 3,110 Total Construction and Development 76,648 68,813 Commercial: Commercial real estate 478,808 495,398 Farmland 7,378 7,517 Multi-family 67,457 67,767 Commercial and industrial 101,852 116,584 Other 10,010 10,142 Total Commercial 665,505 697,408 Consumer: Home equity lines of credit 16,389 17,128 Second mortgages 9,097 10,711 Other 2,388 2,851 Total Consumer 27,874 30,690 Total loans 1,002,508 1,039,001 Deferred loan fees and costs, net 873 326 Allowance for loan losses (13,035 ) (12,433 ) Total loans receivable, net $ 990,346 $ 1,026,894
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, 2020 and September 30, 2020. Activity in the ALLL is presented for the three months ended December 31, 2020 and 2019 and the fiscal year ended September 30, 2020: Construction and Development Commercial Consumer Residential Mortgage Residential and Commercial Land Commercial Real Estate Farmland Multi- Family Commercial and Industrial Other Home Equity Lines of Credit Second Mortgages Other Unallocated Total Allowance for loan losses: (In thousands) Three Months Ended December 31, 2020 Beginning balance $ 1,667 $ 465 $ 23 $ 8,682 $ 47 $ 511 $ 578 $ 51 $ 130 $ 196 $ 29 $ 54 $ 12,433 Charge-offs - - - - - - - - - - (1 ) - (1 ) Recoveries 1 - - 1 - - 1 - - 50 - - 53 Provisions (65 ) 43 1 (710 ) 305 (3 ) 21 (1 ) (5 ) (67 ) (3 ) 1,034 550 Ending balance $ 1,603 $ 508 $ 24 $ 7,973 $ 352 $ 508 $ 600 $ 50 $ 125 $ 179 $ 25 $ 1,088 $ 13,035 Ending balance: individually evaluated for impairment $ - $ - $ - $ 209 $ 317 $ - $ - $ - $ - $ 78 $ - $ - $ 604 Ending balance: collectively evaluated for impairment $ 1,603 $ 508 $ 24 $ 7,764 $ 35 $ 508 $ 600 $ 50 $ 125 $ 101 $ 25 $ 1,088 $ 12,431 Loans receivable: Ending balance $ 232,481 $ 73,000 $ 3,648 $ 478,808 $ 7,378 $ 67,457 $ 101,852 $ 10,010 $ 16,389 $ 9,097 $ 2,388 $ 1,002,508 Ending balance: individually evaluated for impairment $ 3,721 $ - $ - $ 25,547 $ 2,287 $ - $ 549 $ - $ 73 $ 365 $ - $ 32,542 Ending balance: collectively evaluated for impairment $ 228,760 $ 73,000 $ 3,648 $ 453,261 $ 5,091 $ 67,457 $ 101,303 $ 10,010 $ 16,316 $ 8,732 $ 2,388 $ 969,966 Construction and Development Commercial Consumer Residential Mortgage Residential and Commercial Land Commercial Real Estate Farmland Multi- Family Commercial and Industrial Other Home Equity Lines of Credit Second Mortgages Other Unallocated Total Allowance for loan losses: (In thousands) Three Months Ended December, 2019 Beginning balance $ 1,364 $ 523 $ 20 $ 5,903 $ 49 $ 369 $ 615 $ 21 $ 122 $ 267 $ 23 $ 819 $ 10,095 Charge-offs - - - (2,288 ) - - - - - (2 ) - - (2,290 ) Recoveries - - - 1 - - - - - 6 - - 7 Provisions (82 ) 62 (2 ) 2,578 (11 ) (173 ) (151 ) 12 (21 ) (36 ) - (26 ) 2,150 Ending balance $ 1,282 $ 585 $ 18 $ 6,194 $ 38 $ 196 $ 464 $ 33 $ 101 $ 235 $ 23 $ 793 $ 9,962 Ending balance: individually evaluated for impairment $ - $ - $ - $ 112 $ - $ - $ - $ - $ - $ 98 $ - $ - $ 210 Ending balance: collectively evaluated for impairment $ 1,282 $ 585 $ 18 $ 6,082 $ 38 $ 196 $ 464 $ 33 $ 101 $ 137 $ 23 $ 793 $ 9,752 Loans receivable: Ending balance $ 234,738 $ 49,095 $ 3,625 $ 521,495 $ 7,563 $ 43,473 $ 99,494 $ 8,569 $ 18,372 $ 13,179 $ 2,160 $ 1,001,763 Ending balance: individually evaluated for impairment $ 3,527 $ - $ - $ 7,649 $ - $ - $ - $ - $ 29 $ 902 $ - $ 12,107 Ending balance: collectively evaluated for impairment $ 231,211 $ 49,095 $ 3,625 $ 513,846 $ 7,563 $ 43,473 $ 99,494 $ 8,569 $ 18,343 $ 12,277 $ 2,160 $ 989,656 Construction and Development Commercial Consumer Residential Mortgage Residential and Commercial Land Commercial Real Estate Farmland Multi- Family Commercial and Industrial Other Home Equity Lines of Credit Second Mortgages Other Unallocated Total Allowance for loan losses: (In thousands) Year Ended September 30, 2020 Beginning balance $ 1,364 $ 523 $ 20 $ 5,903 $ 49 $ 369 $ 615 $ 21 $ 122 $ 267 $ 23 $ 819 $ 10,095 Charge-offs - - - (8,330 ) - - - - (62 ) (3 ) (1 ) - (8,396 ) Recoveries 25 - - 6 - - 2 - 1 88 2 - 124 Provisions 278 (58 ) 3 11,103 (2 ) 142 (39 ) 30 69 (156 ) 5 (765 ) 10,610 Ending balance $ 1,667 $ 465 $ 23 $ 8,682 $ 47 $ 511 $ 578 $ 51 $ 130 $ 196 $ 29 $ 54 $ 12,433 Ending balance: individually evaluated for impairment $ - $ - $ - $ 227 $ - $ - $ - $ - $ - $ 81 $ - $ - $ 308 Ending balance: collectively evaluated for impairment $ 1,667 $ 465 $ 23 $ 8,455 $ 47 $ 511 $ 578 $ 51 $ 130 $ 115 $ 29 $ 54 $ 12,125 Loans receivable: Ending balance $ 242,090 $ 65,703 $ 3,110 $ 495,398 $ 7,517 $ 67,767 $ 116,584 $ 10,142 $ 17,128 $ 10,711 $ 2,851 $ 1,039,001 Ending balance: individually evaluated for impairment $ 3,388 $ - $ - $ 25,926 $ - $ - $ - $ - $ 26 $ 882 $ - $ 30,222 Ending balance: collectively evaluated for impairment $ 238,702 $ 65,703 $ 3,110 $ 469,472 $ 7,517 $ 67,767 $ 116,584 $ 10,142 $ 17,102 $ 9,829 $ 2,851 $ 1,008,779
Schedule of impaired loans	The increase in impaired loans with no specific allowance is primarily due to one commercial farmland loan of approximately $2.3 million. table presents impaired loans in the 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, 2020 and September 30, 2020: 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, 2020 Residential mortgage $ - $ - $ 3,721 $ 3,721 $ 3,979 Commercial: Commercial real estate 363 209 25,184 25,547 30,519 Farmland 2,287 317 - 2,287 2,287 Commercial and industrial - - 549 549 549 Consumer: Home equity lines of credit - - 73 73 77 Second mortgages 99 78 266 365 415 Total impaired loans $ 2,749 $ 604 $ 29,793 $ 32,542 $ 37,826 September 30, 2020 Residential mortgage $ - $ - $ 3,388 $ 3,388 $ 3,598 Commercial: Commercial real estate 676 227 25,250 25,926 36,945 Consumer: Home equity lines of credit - - 26 26 30 Second mortgages 101 81 781 882 949 Total impaired loans $ 777 $ 308 $ 29,445 $ 30,222 $ 41,522
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, 2020 and 2019: Three Months Ended December 31, 2020 Average Impaired Loans Interest Income Recognized on Impaired Loans (In thousands) Residential mortgage $ 3,483 $ 15 Commercial: Commercial real estate 25,727 105 Farmland 771 - Commercial and industrial 185 2 Consumer: Home equity lines of credit 74 - Second mortgages 700 1 Total $ 30,940 $ 123 Three Months Ended December 31, 2019 Average Impaired Loans Interest Income Recognized on Impaired Loans (In thousands) Residential mortgage $ 3,532 $ 22 Commercial: Commercial real estate 9,096 15 Consumer: Home equity lines of credit 29 - Second mortgages 845 9 Total $ 13,502 $ 46
Schedule of classes of loan portfolio	The following table presents the classes of the loan portfolio categorized as pass, special mention, substandard and doubtful within the Company’s internal risk rating system as of December 31, 2020 and September 30, 2020: Pass Special Mention Substandard Doubtful Total (In thousands) December 31, 2020: Residential mortgage $ 228,646 $ - $ 3,835 $ - $ 232,481 Construction and Development: Residential and commercial 73,000 - - - 73,000 Land 3,648 - - - 3,648 Commercial: Commercial real estate 392,611 46,790 39,407 - 478,808 Farmland 5,091 - 2,287 - 7,378 Multi-family 58,025 9,432 - - 67,457 Commercial and industrial 94,914 6,277 661 - 101,852 Other 10,010 - - - 10,010 Consumer: Home equity lines of credit 16,232 - 157 - 16,389 Second mortgages 7,966 75 1,056 - 9,097 Other 2,388 - - - 2,388 Total $ 892,531 $ 62,574 $ 47,403 $ - $ 1,002,508 Pass Special Mention Substandard Doubtful Total (In thousands) September 30, 2020: Residential mortgage $ 238,610 $ - $ 3,480 $ - $ 242,090 Construction and Development: Residential and commercial 65,703 - - - 65,703 Land 3,110 - - - 3,110 Commercial: Commercial real estate 422,143 46,892 26,363 - 495,398 Farmland 7,517 - - - 7,517 Multi-family 58,285 9,482 - - 67,767 Commercial and industrial 110,099 6,368 117 - 116,584 Other 10,142 - - - 10,142 Consumer: Home equity lines of credit 16,969 - 159 - 17,128 Second mortgages 9,573 76 1,062 - 10,711 Other 2,851 - - - 2,851 Total $ 945,002 $ 62,818 $ 31,181 $ - $ 1,039,001
Schedule of loans that are no longer accruing interest by portfolio class	The following table presents loans that are no longer accruing interest as of December 31, 2020 and September 30, 2020, by portfolio class: December 31, 2020 September 30, 2020 (In thousands) Non-accrual loans: Residential mortgage $ 1,916 $ 2,036 Commercial: Commercial real estate 14,042 14,414 Consumer: Home equity lines of credit 73 26 Second mortgages 209 254 Total non-accrual loans $ 16,240 $ 16,730
Schedule of classes of loan portfolio summarized by aging categories	The following table presents the classes of the loan portfolio categorized by the aging categories described above as of December 31, 2020 and September 30, 2020: 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, 2020: Residential mortgage $ 228,711 $ 1,678 $ 520 $ 1,572 $ 3,770 $ 232,481 $ 710 Construction and Development: Residential and commercial 73,000 - - - - 73,000 - Land 3,648 - - - - 3,648 - Commercial: Commercial real estate 464,949 13,859 - - 13,859 478,808 - Farmland 5,091 2,287 - - 2,287 7,378 - Multi-family 67,457 - - - - 67,457 - Commercial and industrial 98,898 2,954 - - 2,954 101,852 - Other 10,010 - - - - 10,010 - Consumer: Home equity lines of credit 16,230 86 - 73 159 16,389 - Second mortgages 8,669 197 54 177 428 9,097 65 Other 2,387 1 - - 1 2,388 - Total $ 979,050 $ 21,062 $ 574 $ 1,822 $ 23,458 $ 1,002,508 $ 775 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, 2020: Residential mortgage $ 239,623 $ 68 $ 694 $ 1,705 $ 2,467 $ 242,090 $ - Construction and Development: Residential and commercial 65,703 - - - - 65,703 - Land 3,110 - - - - 3,110 - Commercial: Commercial real estate 495,087 - - 311 311 495,398 - Farmland 7,517 - - - - 7,517 - Multi-family 67,767 - - - - 67,767 - Commercial and industrial 116,584 - - - - 116,584 - Other 10,142 - - - - 10,142 - Consumer: Home equity lines of credit 17,080 - - 48 48 17,128 48 Second mortgages 10,325 157 33 196 386 10,711 10 Other 2,850 - 1 - 1 2,851 - Total $ 1,035,788 $ 225 $ 728 $ 2,260 $ 3,213 $ 1,039,001 $ 58
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 $624,000 and $175,000 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) December 31, 2020: Residential mortgage 17 $ 3,359 7 $ 1,553 Commercial: Commercial real estate 5 18,021 1 6,591 Farmland 1 2,287 - - Commercial and industrial 1 549 - - Consumer: Second mortgages 4 156 - - Total 28 $ 24,372 8 $ 8,144 September 30, 2020: Residential mortgage 17 $ 3,435 7 $ 1,617 Commercial: Commercial real estate 5 18,091 1 6,652 Consumer: Second mortgages 4 161 - - Total 26 $ 21,687 8 $ 8,269
Schedule of performing status of TDR loans	The following table reports the performing status of all TDR loans. The performing status is determined by a loan’s compliance with the modified terms: December 31, 2020 September 30, 2020 Performing Non-Performing Performing Non-Performing (In thousands) Residential mortgage $ 1,806 $ 1,553 $ 1,818 $ 1,617 Commercial: Commercial real estate 11,431 6,591 11,439 6,652 Farmland 2,287 - - - Commercial and industrial 549 - - - Consumer: Second mortgages 156 - 161 - Total $ 16,229 $ 8,144 $ 13,418 $ 8,269
Schedule of new TDR's	The following table shows the new TDRs for the three months ended December 31, 2020 and 2019: For the Three Months Ended December 31, 2020 2019 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 (In thousands) Troubled Debt Restructurings: Residential mortgage - $ - $ - 1 $ 207 $ 207 Commercial: Commercial real estate - $ - $ - 1 $ 295 $ 295 Farmland 1 $ 2,287 $ 2,287 - $ - $ - Commercial and industrial 1 $ 549 $ 549 - $ - $ - Total troubled debt restructurings 2 $ 2,836 $ 2,836 2 $ 502 $ 502
Schedule of composition of loans by loan segment	The following tables set forth the composition of these loans by loan segments as of December 31, 2020 and September 30, 2020: December 31, 2020 Number of Loans Loan Deferment Exposure Gross Loans December 31, 2020 Percentage of Gross Loans on Deferral (Dollars in thousands) Residential mortgage 5 $ 934 $ 232,481 0.09 % Construction and Development: Residential and commercial - - 73,000 0.00 % Land loans - - 3,648 0.00 % Total Construction and Development - - 76,648 0.00 % Commercial: Commercial real estate 7 67,082 478,808 6.69 % Farmland - - 7,378 0.00 % Multi-family 1 717 67,457 0.08 % Commercial and industrial 1 22 101,852 0.00 % Other - - 10,010 0.00 % Total Commercial 9 67,821 665,505 6.77 % Consumer: Home equity lines of credit 1 131 16,389 0.01 % Second mortgages 1 17 9,097 0.00 % Other - - 2,388 0.00 % Total Consumer 2 148 27,874 0.01 % Total loans 16 $ 68,903 $ 1,002,508 6.87 % September 30, 2020 Number of Loans Loan Deferment Exposure Gross Loans September 30, 2020 Percentage of Gross Loans on Deferral (Dollars in thousands) Residential mortgage 5 $ 1,288 $ 242,090 0.12 % Construction and Development: Residential and commercial - - 65,703 0.00 % Land loans - - 3,110 0.00 % Total Construction and Development - - 68,813 0.00 % Commercial: Commercial real estate 21 131,348 495,398 12.64 % Farmland 1 2,288 7,517 0.22 % Multi-family 2 3,718 67,767 0.36 % Commercial and industrial 10 5,547 116,584 0.53 % Other - - 10,142 0.00 % Total Commercial 34 142,901 697,408 13.75 % Consumer: Home equity lines of credit 3 579 17,128 0.06 % Second mortgages 1 17 10,711 0.00 % Other - - 2,851 0.00 % Total Consumer 4 596 30,690 0.06 % Total loans 43 $ 144,785 $ 1,039,001 13.94 %

Regulatory Matters (Tables)

Regulatory Matters (Tables)	3 Months Ended
	Dec. 31, 2020
Regulatory Matters Disclosure [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, 2020 and September 30, 2020: Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of December 31, 2020 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 144,059 11.76 % $ 48,991 4.00 % N/A N/A Common Equity Tier 1 Capital (to risk weighted assets) 144,059 14.30 % 45,347 4.50 % N/A N/A Tier 1 Capital (to risk weighted assets) 144,059 14.30 % 60,462 6.00 % N/A N/A Total Risk Based Capital (to risk weighted assets) 151,478 18.01 % 80,616 8.00 % N/A N/A As of September 30, 2020 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 141,681 11.63 % $ 48,473 4.00 % N/A N/A Common Equity Tier 1 Capital (to risk weighted assets) 141,681 14.00 % 45,528 4.50 % N/A N/A Tier 1 Capital (to risk weighted assets) 141,681 14.00 % 60,704 6.00 % N/A N/A Total Risk Based Capital (to risk weighted assets) 178,972 17.69 % 80,939 8.00 % N/A N/A The following table summarizes the Bank’s compliance with applicable regulatory capital requirements as of December 31, 2020 and September 30, 2020 : Actual For Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of December 31, 2020 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 158,399 12.95 % $ 48,929 4.00 % $ 61,162 5.00 % Common Equity Tier 1 Capital (to risk weighted assets) 158,399 15.74 % 45,272 4.50 % 65,393 6.50 % Tier 1 Capital (to risk weighted assets) 158,399 15.74 % 60,363 6.00 % 80,484 8.00 % Total Risk Based Capital (to risk weighted assets) 170,982 17.00 % 80,484 8.00 % 100,605 10.00 % As of September 30, 2020 Tier 1 Leverage (Core) Capital (to adjusted assets) $ 155,575 12.78 % $ 48,685 4.00 % $ 60,856 5.00 % Common Equity Tier 1 Capital (to risk weighted assets) 155,575 15.40 % 45,459 4.50 % 65,663 6.50 % Tier 1 Capital (to risk weighted assets) 155,575 15.40 % 60,612 6.00 % 80,816 8.00 % Total Risk Based Capital (to risk weighted assets) 168,090 16.64 % 80,816 8.00 % 101,020 10.00 %

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Dec. 31, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of effects of derivative instruments on the Consolidated Financial Statements	The tables below present the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition as of December 31, 2020 and September 30, 2020: ` December 31, 2020 Asset derivatives Liability derivatives Notional Amount Fair Value Statement of Financial Condition Location Notional Amount Fair Value Statement of Financial Condition Location (In thousands) Derivatives designated as a hedging instrument: Interest rate swap agreement $ - $ - Other assets $ 90,000 $ 1,017 Other liabilities Derivatives not designated as a hedging instrument: Interest rate swap agreement $ 45,060 $ 7,488 Other assets $ 45,060 $ 7,492 Other liabilities September 30, 2020 Asset derivatives Liability derivatives Notional Amount Fair Value Statement of Financial Condition Location Notional Amount Fair Value Statement of Financial Condition Location (In thousands) Derivatives designated as a hedging instrument: Interest rate swap agreement $ - $ - Other assets $ 90,000 $ 1,291 Other liabilities Derivatives not designated as a hedging instrument: Interest rate swap agreement $ 45,162 $ 8,752 Other assets $ 45,162 $ 8,756 Other liabilities
Schedule of offsetting of derivative assets and liabilities	The tables below present the d erivative assets and liabilities offsetting as of December 31, 2020 and September 30, 2020 : Offsetting of Derivative Assets (In thousands) as of December 31, 2020 Gross Amounts Not Offset in the Statements of Financial Condition Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount Derivatives $ 7,488 $ - $ 7,488 $ - $ - $ 7,488 Offsetting of Derivative Liabilities (In thousands) as of December 31, 2020 Gross Amounts Not Offset in the Statements of Financial Condition Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities presented in the Statement of Financial Condition Financial Instruments Cash Collateral Posted Net Amount Derivatives $ 8,509 $ - $ 8,509 $ 1,230 $ 12,857 $ (5,578 ) Offsetting of Derivative Assets (In thousands) as of September 30, 2020 Gross Amounts Not Offset in the Statements of Financial Condition Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received Net Amount Derivatives $ 8,752 $ - $ 8,752 $ - $ - $ 8,752 Offsetting of Derivative Liabilities (In thousands) as of September 30, 2020 Gross Amounts Not Offset in the Statements of Financial Condition Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities presented in the Statement of Financial Condition Financial Instruments Cash Collateral Posted Net Amount Derivatives $ 10,047 $ - $ 10,047 $ 1,498 $ 12,857 $ (4,308 )
Schedule of net gains (losses) recorded in accumulated other comprehensive income and the Consolidate Statements of Operations	The tables below present the net gains (losses) recorded in accumulated other comprehensive loss and the Consolidated Statements of Operations relating to the cash flow derivative instruments for the three months ended December 31, 2020 and 2019: Three Months Ended December 31, 2020 Amount of Loss Recognized in OCI on Derivative Amount of Loss Reclassified from OCI to Interest Expense (In thousands) Interest rate swap agreements $ (8 ) $ (280 ) Total derivatives (8 ) (280 ) Three Months Ended December 31, 2019 Amount of Gain Recognized in OCI on Derivative Amount of Loss Reclassified from OCI to Interest Expense (In thousands) Interest rate swap agreements $ 77 $ (14 ) Total derivatives 77 (14 )
Schedule of effects of derivative instruments on Consolidated Statements of Operations	The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations for the three months ended December 31, 2020 and 2019: Three Months Ended December 31, 2020 Consolidated Statements of Operations Amount of Gain (Loss) Recognized in Income on derivatives (In thousands) Derivatives not designated as a hedging instrument: Interest rate swap agreement Other income $ 1 Total $ 1 Three Months Ended December 31, 2019 Consolidated Statements of Operations Amount of Loss Recognized in Income on derivatives (In thousands) Derivatives not designated as a hedging instrument: Interest rate swap agreement Other income $ (3 ) Total $ (3 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2020
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 as of December 31, 2020 and September 30, 2020: December 31, 2020 Total Level 1 Level 2 Level 3 (In thousands) Assets: Investment securities available for sale: Debt securities: U.S. government agencies $ 5,020 $ - $ 5,020 $ - State and municipal obligations 2,678 - 2,678 - Single issuer trust preferred security 908 - 908 - Corporate debt securities 25,098 - 25,098 - Mutual funds 1,520 1,020 - 500 Total investment securities available for sale $ 35,224 $ 1,020 $ 33,704 $ 500 Derivative instruments $ 7,488 $ - $ 7,488 $ - Liabilities: Derivative instruments $ 8,509 $ - $ 8,509 $ - September 30, 2020 Total Level 1 Level 2 Level 3 (In thousands) Assets: Investment securities available for sale: Debt securities: U.S. government agencies $ 5,040 $ - $ 5,040 $ - State and municipal obligations 3,105 - 3,105 - Single issuer trust preferred security 925 - 925 - Corporate debt securities 20,948 - 20,948 - Mutual fund 1,523 1,023 - 500 Total investment securities available for sale $ 31,541 $ 1,023 $ 30,018 $ 500 Derivative instruments $ 8,752 $ - $ 8,752 $ - Liabilities: Derivative instruments $ 10,047 $ - $ 10,047 $ -
Schedule of securities available-for-sale measured at fair value on a recurring basis using significant unobservable inputs	The following tables present additional information about the securities available-for-sale measured at fair value on a recurring basis and for which the Company utilized significant unobservable inputs (Level 3 inputs) to determine fair value for the three months ended December 31, 2020 and December 31, 2019. Fair value measurements using significant unobservable inputs (Level 3) (In thousands) Balance, October 1, 2020 $ 500 Payments received - Total gains or losses (realized/unrealized) Included in earnings - Included in other comprehensive income - Purchases - Transfers in and/or out of Level 3 - Balance, December 31, 2020 $ 500 Fair value measurements using significant unobservable inputs (Level 3) (In thousands) Balance, October 1, 2019 $ 250 Payments received - Total gains or losses (realized/unrealized) Included in earnings - Included in other comprehensive income - Purchases 250 Transfers in and/or out of Level 3 - Balance, December 31, 2019 $ 500
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, 2020 and September 30, 2020: December 31, 2020 Total Level 1 Level 2 Level 3 (In thousands) Other real estate owned $ 5,796 $ - $ - $ 5,796 Impaired loans (1) 9,597 - - 9,597 Total $ 15,393 $ - $ - $ 15,393 December 31, 2020 Fair Value at December 31, 2020 Valuation Technique Unobservable Input Range/(Weighted Average) (Dollars in thousands) Other real estate owned $ 5,796 Appraisal of Collateral(2) Collateral discount(3) 0%/(0%) Impaired loans (1) 9,597 Appraisal of Collateral(2) Collateral discount(3) (2.0%)-20.0%/(1.4%) Total $ 15,393 (1) Consisted of seven loans with an aggregate balance of $10.2 million and with $604,000 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, 2020 Total Level 1 Level 2 Level 3 (In thousands) Other real estate owned $ 5,796 $ - $ - $ 5,796 Impaired loans (1) 7,920 - - 7,920 Total $ 13,716 $ - $ - $ 13,716 September 30, 2020 Fair Value at September 30, 2020 Valuation Technique Unobservable Input Range/(Weighted Average) (Dollars in thousands) Other real estate owned $ 5,796 Appraisal of Collateral(2) Collateral discount(3) 0%/(0%) Impaired loans (1) 7,920 Appraisal of Collateral(2) Collateral discount(3) (2.0%) - 20.0%/(1.4%) Total $ 13,716 (1) Consisted of seven loans with an aggregate balance of $8.2 million and with $308,000 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.
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, 2020 and September 30, 2020 are presented below: December 31, 2020 Carrying Amount Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 109,222 $ 109,222 $ 109,222 $ - $ - Investment securities available-for-sale 35,224 35,224 1,020 33,704 500 Investment securities held-to-maturity 14,161 14,745 - 14,745 - Loans receivable, net (including impaired loans) 990,346 998,545 - - 998,545 Accrued interest receivable 4,051 4,051 - 4,051 - Restricted stock 9,327 9,327 - 9,327 - Mortgage servicing rights (included in Other Assets) 87 87 - 87 - Derivatives (included in Other Assets) 7,488 7,488 - 7,488 - Financial liabilities: Savings accounts 46,531 46,531 - 46,531 - Checking and NOW accounts 352,799 352,799 - 352,799 - Money market accounts 303,796 303,796 - 303,796 - Certificates of deposit 197,339 199,959 - 199,959 - Borrowings (excluding sub debt) 135,000 135,706 - 135,706 - Subordinated debt 24,816 24,845 - 24,845 - Derivatives (included in Other Liabilities) 8,509 8,509 - 8,509 - Accrued interest payable 1,078 1,078 - 1,078 - September 30, 2020 Carrying Amount Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and cash equivalents $ 61,439 $ 61,439 $ 61,439 $ - $ - Investment securities available-for-sale 31,541 31,541 1,023 30,018 500 Investment securities held-to-maturity 14,970 15,608 - 15,608 - Loans receivable, net (including impaired loans) 1,031,392 1,039,981 - - 1,039,981 Accrued interest receivable 3,677 3,677 - 3,677 - Restricted stock 9,622 9,622 - 9,622 - Mortgage servicing rights (included in Other Assets) 111 111 - 111 - Derivatives (included in Other Assets) 8,752 8,752 - 8,752 - Financial liabilities: Savings accounts 45,072 45,072 - 45,072 - Checking and NOW accounts 354,104 354,104 - 354,104 - Money market accounts 277,711 277,711 - 277,711 - Certificates of deposit 214,019 217,212 - 217,212 - Borrowings (excluding sub debt) 134,225 135,101 - 135,101 - Subordinated debt 24,776 25,030 - 25,030 - Derivatives (included in Other Liabilities) 10,047 10,047 - 10,047 - Accrued interest payable 728 728 - 728 -

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	3 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of components of accumulated other comprehensive loss	The components of accumulated other comprehensive loss included in shareholders’ equity are as follows: December 31, 2020 September 30, 2020 (In thousands) Net unrealized holding losses on available-for-sale securities $ (15 ) $ (118 ) Tax effect 3 25 Net of tax amount (12 ) (93 ) Fair value adjustments on derivatives (989 ) (1,260 ) Tax effect 208 265 Net of tax amount (781 ) (995 ) Total accumulated other comprehensive loss $ (793 ) $ (1,088 )
Schedule of other comprehensive loss and related tax effects	Other comprehensive income and related tax effects are presented in the following table: Three Months Ended December 31, 2020 2019 (In thousands) Net unrealized holding (losses) gains on available-for-sale securities $ 457 $ 71 Net realized gain on securities available-for-sale (355 ) - Amortization of unrealized holding losses on securities transferred from available-for-sale to held-to-maturity 1 1 Adjustment for loss recorded on replacement of derivative (2 ) - Fair value adjustments on derivatives 273 91 Other comprehensive income before taxes 374 163 Tax effect (79 ) (34 ) Total other comprehensive income $ 295 $ 129

Equity Based Incentive Compen_2

Equity Based Incentive Compensation Plan (Tables)	3 Months Ended
	Dec. 31, 2020
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, 2020: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (In Years) Aggregate Intrinsic Value Outstanding, beginning of year 25,830 $ 21.57 $ - Granted - $ - $ - Exercised - $ - $ - Forfeited/cancelled/expired - $ - $ - Outstanding, at December 31, 2020 25,830 $ 21.57 6.599 $ - Exercisable, at December 31, 2020 9,310 $ 22.09 8.113 $ - Nonvested, at December 31, 2020 16,520 $ 21.28
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, 2020: Shares Weighted Average Fair Value Outstanding, beginning of year 30,653 $ 21.98 Granted - $ - Vested (859 ) $ 21.01 Forfeited/cancelled/expired - $ - Outstanding, end of year 29,794 $ 22.00

Deposits (Tables)

Deposits (Tables)	3 Months Ended
	Dec. 31, 2020
Deposits [Abstract]
Schedule of deposits classified by type with percentages to total deposits	Deposits classified by type with percentages to total deposits at December 31, 2020 and September 30, 2020 consisted of the following: December 31, September 30, 2020 2020 (Dollars in thousands) Balances by types of deposit: Savings $ 46,531 5.17 % $ 45,072 5.06 % Money market accounts 303,796 33.73 277,711 31.17 Interest-bearing demand 303,535 33.71 303,682 34.09 Non-interest-bearing demand 49,264 5.47 50,422 5.66 703,126 78.08 % 676,887 75.98 % Certificates of deposit 197,339 21.92 % 214,019 24.02 % Total Deposits $ 900,465 100.00 % $ 890,906 100.00 %
Schedule of interest expense on deposits	Interest expense on deposits consisted of the following: Three Months Ended December 31, 2020 2019 (In thousands) Savings accounts $ 18 $ 11 Money market accounts 791 1,098 Interest-bearing demand 547 1,181 Certificates of deposit 901 1,447 Total $ 2,257 $ 3,737
Schedule of certificates of deposit maturities	As of December 31, 2020, the scheduled maturities of certificates of deposits are as follows: Scheduled Maturities (In thousands) Period Ending December 31, 2021 $ 138,051 2022 25,402 2023 17,107 2024 9,551 2025 5,685 Thereafter 1,543 Total $ 197,339 As of December 31, 2020, the scheduled maturities of certificates of deposits in amounts greater than $100,000 are as follows: Scheduled Maturities (In thousands) Period Ending December 31, Three months or less $ 43,247 Over three through six months 44,048 Over six through twelve months 14,609 Over twelve months 31,261 Total $ 133,165

Leases (Tables)

Leases (Tables)	3 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Components of Lease Expense	The components of lease expense were as follows: Three Months Ended December 31, 2020 2019 (In thousands) Operating lease cost $ 171 $ 175 Finance lease cost - - Short-term lease cost 22 25 Total $ 193 $ 200
Schedule of Supplemental Information of Leases	Supplemental information at and for December 31, 2020 and the three months ended December 31, 2020 related to leases was as follows: December 31, 2020 (Dollars in thousands) Supplemental balance sheet information Operating lease right-of-use assets $ 2,479 Operating lease liabilities $ 2,512 Weighted average remaining lease term 5.24 years Weighted average discount rate 1.99 % Three Months Ended December 31, 2020 (In thousands) Supplemental cash flow information Operating cash flows from operating leases $ 172 ROU assets obtained in exchange for lease obligations $ 3,279
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities were as follows: Operating Leases (In thousands) Period Ending September 30, Remainder of 2021 $ 426 2022 492 2023 474 2024 474 2025 477 Thereafter 269 Total lease payments $ 2,612 Less: imputed interest (100 ) Total $ 2,512

Risks and Uncertainties (Narrat

Risks and Uncertainties (Narrative) (Detail)	3 Months Ended	12 Months Ended
	Dec. 31, 2020USD ($)Number	Sep. 30, 2020USD ($)Number	Mar. 31, 2021USD ($)	Mar. 27, 2020USD ($)	Dec. 31, 2019USD ($)
Unusual Risk Or Uncertainty [Line Items]
Number of loan modification agreements | Number	28	26
Loans outstanding	$ 1,002,508,000	$ 1,039,001,000			$ 1,001,763,000
Non-accrual loans	$ 16,240,000	$ 16,730,000
Commercial Real Estate [Member]
Unusual Risk Or Uncertainty [Line Items]
Number of loan modification agreements | Number	5	5
Loans outstanding	$ 478,808,000	$ 495,398,000			$ 521,495,000
Non-accrual loans	14,042,000	$ 14,414,000
Subsequent Event [Member] | Commercial Real Estate [Member]
Unusual Risk Or Uncertainty [Line Items]
Non-accrual loans			$ 13,400
Paycheck Protection Program Loans [Member]
Unusual Risk Or Uncertainty [Line Items]
Initial amount of loan funded				$ 349,000,000,000
Small Business Administration, CARES Act, Paycheck Protection Program [Member]
Unusual Risk Or Uncertainty [Line Items]
Gain on sale of loans	202,000
Proceeds from sale of loans	$ 19,700,000
Loan Modification Agreements [Member]
Unusual Risk Or Uncertainty [Line Items]
Initial payment and deferrals forbearance period	3 months
Maximum additional period of second forbearance	90 days
Number of loan modification agreements | Number	16	43
Loans outstanding	$ 68,900,000	$ 144,800,000
Percentage of loans outstanding	6.90%	13.90%

Non-Interest Income - Schedule

Non-Interest Income - Schedule of Company's Non-Interest Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Rental income	$ 54	$ 54
Net gains on sale and call of investments	355
Net gains on sale of loans	404	3
Earnings on bank-owned life insurance	164	127
Non-interest income within the scope of other GAAP topics	977	184
Non-interest income from contracts with customers	247	259
Total Other Income	1,224	443
ATM Fees [Member]
Non-interest income from contracts with customers	3	2
Credit Card Fee Income [Member]
Non-interest income from contracts with customers	5	6
DDA Fee Income [Member]
Non-interest income from contracts with customers	22	30
DDA Service Fees [Member]
Non-interest income from contracts with customers	24	19
Debit Card Fees [Member]
Non-interest income from contracts with customers	64	66
Other Loan Fee Income [Member]
Non-interest income from contracts with customers	72	77
Other Fee Income [Member]
Non-interest income from contracts with customers	55	57
Other Non-interest Income [Member]
Non-interest income from contracts with customers	$ 2	$ 2

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Detail) - shares	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Restricted shares issued	0	1,764
Stock options	0	0

Earnings Per Share (Detail)

Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net Income	$ 2,273	$ 785
Weighted average shares outstanding	7,609,953	7,764,383
Average unearned ESOP shares	(84,145)	(98,541)
Basic weighted average shares outstanding	7,525,808	7,665,842
Plus: effect of potential dilutive common stock equivalents - stock options	568
Diluted weighted average common shares outstanding	7,526,376	7,665,842
Earnings per common share:
Basic	$ 0.30	$ 0.10
Diluted	$ 0.30	$ 0.10

Employee Stock Ownership Plan (

Employee Stock Ownership Plan (Narrative) (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		4 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	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 ESOP loan, which bears an interest rate of 5%, is being repaid in quarterly installments through 2026 principally from the Bank’s contributions to the ESOP.
Committed to be released ESOP shares	3,600	3,600
Number of unallocated shares	82,365
Number of allocated shares held by the ESOP	176,853
Aggregate fair value of shares held by the ESOP	$ 1.3

Investment Securities (Detail)

Investment Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020
Schedule of available-for-sale securities and cost-method investments [Line Items]
Amortized Cost	$ 35,239	$ 31,658
Gross Unrealized Gains	233	201
Gross Unrealized Losses	(248)	(318)
Fair value	35,224	31,541
Amortized Cost	14,161	14,970
Gross Unrealized Gains	584	638
Fair value	14,745	15,608
Total investment securities Amortized Cost	49,400	46,628
Total investment securities Gross Unrealized Gains	817	839
Total investment securities Gross Unrealized Losses	(248)	(318)
Total investment securities Fair Value	49,969	47,149
U. S. Government Agencies [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Amortized Cost	5,012	5,025
Gross Unrealized Gains	8	15
Fair value	5,020	5,040
State And Municipal Obligations [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Amortized Cost	2,675	3,101
Gross Unrealized Gains	3	4
Fair value	2,678	3,105
Amortized Cost	1,785	1,794
Gross Unrealized Gains	128	129
Fair value	1,913	1,923
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	(92)	(75)
Fair value	908	925
Corporate Debt Securities [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Amortized Cost	25,032	21,009
Gross Unrealized Gains	222	182
Gross Unrealized Losses	(156)	(243)
Fair value	25,098	20,948
Amortized Cost	3,469	3,498
Gross Unrealized Gains	233	260
Fair value	3,702	3,758
Mutual Fund [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Amortized Cost	1,520	1,523
Fair value	1,520	1,523
Collateralized Mortgage Obligations [Member] | Fixed Rate [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Amortized Cost	8,907	9,678
Gross Unrealized Gains	223	249
Fair value	$ 9,130	$ 9,927

Investment Securities - (Narrat

Investment Securities - (Narrative) (Detail)	3 Months Ended
	Dec. 31, 2020USD ($)Investment	Dec. 31, 2019USD ($)	Sep. 30, 2020USD ($)
Marketable Securities [Line Items]
Sales	$ 6,830,000	$ 0
Gain on sale of securities available for sale	355,000
Fair value of available for sale securities transferred	9,400,000		$ 4,600,000
Fair value of available for sale securities short-term borrowings transferred	0		0
Carrying value of investment securities pledged against hedge	$ 0		$ 0
Corporate Debt Securities [Member]
Marketable Securities [Line Items]
Number of portfolio investments | Investment	4
Single Issuer Trust Preferred Security [Member]
Marketable Securities [Line Items]
Number of portfolio investments | Investment	1

Investment Securities - Gross U

Investment Securities - Gross Unrealized Loss (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020
Schedule of available-for-sale securities and cost-method investments [Line Items]
Total investment securities in an unrealized loss position less than 12 months fair value	$ 2,495	$ 4,426
Total investment securities in an unrealized loss position less than 12 months gross unrealized loss	(5)	(74)
Total investment securities in an unrealized loss position 12 months or more fair value	4,257	4,255
Total investment securities in an unrealized loss position 12 months or more gross unrealized loss	(243)	(244)
Total investment securities in an unrealized loss position fair value	6,752	8,681
Total investment securities in an unrealized loss position gross unrealized loss	(248)	(318)
Single Issuer Trust Preferred Security [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
12 Months or longer: Fair Value	908	925
12 Months or longer: Unrealized Losses	(92)	(75)
Total: Fair Value	908	925
Total: Unrealized Losses	(92)	(75)
Corporate Debt Securities [Member]
Schedule of available-for-sale securities and cost-method investments [Line Items]
Less than 12 Months: Fair Value	2,495	4,426
Less than 12 Months: Unrealized Losses	(5)	(74)
12 Months or longer: Fair Value	3,349	3,330
12 Months or longer: Unrealized Losses	(151)	(169)
Total: Fair Value	5,844	7,756
Total: Unrealized Losses	$ (156)	$ (243)

Investment Securities - Schedul

Investment Securities - Schedule maturities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020
Available for Sale, Amortized Cost:
Over 1 year through five years	$ 6,675
After 5 years through ten years	22,052
Over 10 years	6,512
Amortized Cost	35,239	$ 31,658
Held-to-Maturity, Amortized Cost:
Over 1 year through five years	4,581
After 5 years through ten years	1,098
CMO, fixed-rate	8,482
Amortized Cost	14,161	14,970
Total investment securities Amortized Cost	49,400	46,628
Available-for-Sale, Fair Value:
Over 1 year through five years	6,528
After 5 years through ten years	22,178
Over 10 years	6,518
Available-for-sale, Fair Value, Total	35,224	31,541
Held-to-Maturity, Fair Value:
Over 1 year through five years	4,892
After 5 years through ten years	1,161
Mortgage-backed securities:
CMO, fixed-rate	8,692
Held-to-Maturity, Fair Value, Total	14,745	15,608
Total investment securities, Fair Value	$ 49,969	$ 47,149

Loans Receivable and Related _3

Loans Receivable and Related Allowance for Loan Losses (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Financing Receivable, Impaired [Line Items]
Total loans	$ 1,002,508	$ 1,039,001	$ 1,001,763
Deferred loan fees and costs, net	873	326
Allowance for loan losses	(13,035)	(12,433)	(9,962)	$ (10,095)
Total loans receivable, net	990,346	1,026,894
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Total loans	101,852	116,584	99,494
Allowance for loan losses	(600)	(578)	(464)	(615)
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Total loans	232,481	242,090	234,738
Allowance for loan losses	(1,603)	(1,667)	(1,282)	(1,364)
Construction and Development - Residential and Commercial Receivables [Member]
Financing Receivable, Impaired [Line Items]
Total loans	73,000	65,703	49,095
Allowance for loan losses	(508)	(465)	(585)	(523)
Construction and Development - Land Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total loans	3,648	3,110	3,625
Allowance for loan losses	(24)	(23)	(18)	(20)
Construction And Development Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total loans	76,648	68,813
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Total loans	478,808	495,398	521,495
Allowance for loan losses	(7,973)	(8,682)	(6,194)	(5,903)
Commercial Farmland [Member]
Financing Receivable, Impaired [Line Items]
Total loans	7,378	7,517	7,563
Allowance for loan losses	(352)	(47)	(38)	(49)
Commercial Multi Family Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total loans	67,457	67,767	43,473
Allowance for loan losses	(508)	(511)	(196)	(369)
Commercial - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total loans	10,010	10,142	8,569
Allowance for loan losses	(50)	(51)	(33)	(21)
Commercial [Member]
Financing Receivable, Impaired [Line Items]
Total loans	665,505	697,408
Consumer - Home Equity Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Total loans	16,389	17,128	18,372
Allowance for loan losses	(125)	(130)	(101)	(122)
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total loans	9,097	10,711	13,179
Allowance for loan losses	(179)	(196)	(235)	(267)
Consumer - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total loans	2,388	2,851	2,160
Allowance for loan losses	(25)	(29)	$ (23)	$ (23)
Consumer Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total loans	$ 27,874	$ 30,690

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, 2020	Dec. 31, 2019	Sep. 30, 2020
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning balance	$ 12,433	$ 10,095	$ 10,095
Charge-offs	(1)	(2,290)	(8,396)
Recoveries	53	7	124
Provisions	550	2,150	10,610
Allowance for credit losses, Ending Balance	13,035	9,962	12,433
Allowance for credit losses: Ending balance: individually evaluated for impairment	604	210	308
Allowance for credit losses: Ending balance: collectively evaluated for impairment	12,431	9,752	12,125
Loans receivable	1,002,508	1,001,763	1,039,001
Loans receivable: Ending balance: individually evaluated for impairment	32,542	12,107	30,222
Loans Receivable: Ending balance: collectively evaluated for impairment	969,966	989,656	1,008,779
Commercial and Industrial [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning balance	578	615	615
Recoveries	1		2
Provisions	21	(151)	(39)
Allowance for credit losses, Ending Balance	600	464	578
Allowance for credit losses: Ending balance: collectively evaluated for impairment	600	464	578
Loans receivable	101,852	99,494	116,584
Loans receivable: Ending balance: individually evaluated for impairment	549
Loans Receivable: Ending balance: collectively evaluated for impairment	101,303	99,494	116,584
Residential Mortgage [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning balance	1,667	1,364	1,364
Recoveries	1		25
Provisions	(65)	(82)	278
Allowance for credit losses, Ending Balance	1,603	1,282	1,667
Allowance for credit losses: Ending balance: collectively evaluated for impairment	1,603	1,282	1,667
Loans receivable	232,481	234,738	242,090
Loans receivable: Ending balance: individually evaluated for impairment	3,721	3,527	3,388
Loans Receivable: Ending balance: collectively evaluated for impairment	228,760	231,211	238,702
Construction and Development - Residential and Commercial Receivables [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning balance	465	523	523
Provisions	43	62	(58)
Allowance for credit losses, Ending Balance	508	585	465
Allowance for credit losses: Ending balance: collectively evaluated for impairment	508	585	465
Loans receivable	73,000	49,095	65,703
Loans Receivable: Ending balance: collectively evaluated for impairment	73,000	49,095	65,703
Construction and Development - Land Receivable [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning balance	23	20	20
Provisions	1	(2)	3
Allowance for credit losses, Ending Balance	24	18	23
Allowance for credit losses: Ending balance: collectively evaluated for impairment	24	18	23
Loans receivable	3,648	3,625	3,110
Loans Receivable: Ending balance: collectively evaluated for impairment	3,648	3,625	3,110
Commercial Real Estate [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning balance	8,682	5,903	5,903
Charge-offs		(2,288)	(8,330)
Recoveries	1	1	6
Provisions	(710)	2,578	11,103
Allowance for credit losses, Ending Balance	7,973	6,194	8,682
Allowance for credit losses: Ending balance: individually evaluated for impairment	209	112	227
Allowance for credit losses: Ending balance: collectively evaluated for impairment	7,764	6,082	8,455
Loans receivable	478,808	521,495	495,398
Loans receivable: Ending balance: individually evaluated for impairment	25,547	7,649	25,926
Loans Receivable: Ending balance: collectively evaluated for impairment	453,261	513,846	469,472
Commercial Farmland [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning balance	47	49	49
Provisions	305	(11)	(2)
Allowance for credit losses, Ending Balance	352	38	47
Allowance for credit losses: Ending balance: individually evaluated for impairment	317
Allowance for credit losses: Ending balance: collectively evaluated for impairment	35	38	47
Loans receivable	7,378	7,563	7,517
Loans receivable: Ending balance: individually evaluated for impairment	2,287
Loans Receivable: Ending balance: collectively evaluated for impairment	5,091	7,563	7,517
Commercial Multi Family Receivable [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning balance	511	369	369
Provisions	(3)	(173)	142
Allowance for credit losses, Ending Balance	508	196	511
Allowance for credit losses: Ending balance: collectively evaluated for impairment	508	196	511
Loans receivable	67,457	43,473	67,767
Loans Receivable: Ending balance: collectively evaluated for impairment	67,457	43,473	67,767
Commercial - Other Receivable [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning balance	51	21	21
Provisions	(1)	12	30
Allowance for credit losses, Ending Balance	50	33	51
Allowance for credit losses: Ending balance: collectively evaluated for impairment	50	33	51
Loans receivable	10,010	8,569	10,142
Loans Receivable: Ending balance: collectively evaluated for impairment	10,010	8,569	10,142
Consumer - Home Equity Lines of Credit [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning balance	130	122	122
Charge-offs			(62)
Recoveries			1
Provisions	(5)	(21)	69
Allowance for credit losses, Ending Balance	125	101	130
Allowance for credit losses: Ending balance: collectively evaluated for impairment	125	101	130
Loans receivable	16,389	18,372	17,128
Loans receivable: Ending balance: individually evaluated for impairment	73	29	26
Loans Receivable: Ending balance: collectively evaluated for impairment	16,316	18,343	17,102
Consumer - Second Mortgages Receivable [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning balance	196	267	267
Charge-offs		(2)	(3)
Recoveries	50	6	88
Provisions	(67)	(36)	(156)
Allowance for credit losses, Ending Balance	179	235	196
Allowance for credit losses: Ending balance: individually evaluated for impairment	78	98	81
Allowance for credit losses: Ending balance: collectively evaluated for impairment	101	137	115
Loans receivable	9,097	13,179	10,711
Loans receivable: Ending balance: individually evaluated for impairment	365	902	882
Loans Receivable: Ending balance: collectively evaluated for impairment	8,732	12,277	9,829
Consumer - Other Receivable [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning balance	29	23	23
Charge-offs	(1)		(1)
Recoveries			2
Provisions	(3)		5
Allowance for credit losses, Ending Balance	25	23	29
Allowance for credit losses: Ending balance: collectively evaluated for impairment	25	23	29
Loans receivable	2,388	2,160	2,851
Loans Receivable: Ending balance: collectively evaluated for impairment	2,388	2,160	2,851
Unallocated [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, Beginning balance	54	819	819
Provisions	1,034	(26)	(765)
Allowance for credit losses, Ending Balance	1,088	793	54
Allowance for credit losses: Ending balance: collectively evaluated for impairment	$ 1,088	$ 793	$ 54

Loans Receivable and Related _5

Loans Receivable and Related Allowance for Loan Losses (Narrative) (Detail)	3 Months Ended		12 Months Ended
	Dec. 31, 2020USD ($)Number	Dec. 31, 2019USD ($)	Sep. 30, 2020USD ($)Number
Financing Receivable, Impaired [Line Items]
Impaired loans	$ 32,542,000		$ 30,222,000
Non-accrual loans interest income	138,000	$ 17,000
Loans past due 90 days or more and still accruing interest	$ 775,000		$ 58,000
Number of loans | Number	28		26
Financing receivable, collateral dependent TDR loan	$ 24,372,000		$ 21,687,000
Number of loans | Number	16		43
Aggregate principal balance	$ 68,900,000		$ 144,800,000
Commercial Farmland [Member]
Financing Receivable, Impaired [Line Items]
Impaired loans	$ 2,287,000
Number of loans | Number	1
Financing receivable, collateral dependent TDR loan	$ 2,287,000
Number of loans | Number			1
Construction and Development - Residential and Commercial Receivables [Member]
Financing Receivable, Impaired [Line Items]
Real estate through foreclosure	$ 624,000		$ 175,000

Loans Receivable and Related _6

Loans Receivable and Related Allowance for Loan Losses (2) (Detail) - USD ($)	Dec. 31, 2020	Sep. 30, 2020
Financing Receivable, Impaired [Line Items]
Impaired Loans With Specific Allowance, Recorded Investment	$ 2,749,000	$ 777,000
Impaired Loans With Specific Allowance, Related Allowance	604,000	308,000
Impaired Loans With No Specific Allowance, Recorded Investment	29,793,000	29,445,000
Total Impaired Loans Recorded Investment	32,542,000	30,222,000
Total Impaired Loans Unpaid Principal Balance	37,826,000	41,522,000
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans With No Specific Allowance, Recorded Investment	549,000
Total Impaired Loans Recorded Investment	549,000
Total Impaired Loans Unpaid Principal Balance	549,000
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans With No Specific Allowance, Recorded Investment	3,721,000	3,388,000
Total Impaired Loans Recorded Investment	3,721,000	3,388,000
Total Impaired Loans Unpaid Principal Balance	3,979,000	3,598,000
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans With Specific Allowance, Recorded Investment	363,000	676,000
Impaired Loans With Specific Allowance, Related Allowance	209,000	227,000
Impaired Loans With No Specific Allowance, Recorded Investment	25,184,000	25,250,000
Total Impaired Loans Recorded Investment	25,547,000	25,926,000
Total Impaired Loans Unpaid Principal Balance	30,519,000	36,945,000
Consumer - Home Equity Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans With No Specific Allowance, Recorded Investment	73,000	26,000
Total Impaired Loans Recorded Investment	73,000	26,000
Total Impaired Loans Unpaid Principal Balance	77,000	30,000
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans With Specific Allowance, Recorded Investment	99,000	101,000
Impaired Loans With Specific Allowance, Related Allowance	78,000	81,000
Impaired Loans With No Specific Allowance, Recorded Investment	266,000	781,000
Total Impaired Loans Recorded Investment	365,000	882,000
Total Impaired Loans Unpaid Principal Balance	415,000	$ 949,000
Commercial Farmland [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans With Specific Allowance, Recorded Investment	2,287,000
Impaired Loans With Specific Allowance, Related Allowance	317,000
Total Impaired Loans Recorded Investment	2,287,000
Total Impaired Loans Unpaid Principal Balance	$ 2,287,000

Loans Receivable and Related _7

Loans Receivable and Related Allowance for Loan Losses (3) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Impaired [Line Items]
Average Impaired Loans	$ 30,940	$ 13,502
Interest Income Recognized on Impaired Loans	123	46
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Average Impaired Loans	185
Interest Income Recognized on Impaired Loans	2
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Average Impaired Loans	3,483	3,532
Interest Income Recognized on Impaired Loans	15	22
Commercial Farmland [Member]
Financing Receivable, Impaired [Line Items]
Average Impaired Loans	771
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Average Impaired Loans	25,727	9,096
Interest Income Recognized on Impaired Loans	105	15
Consumer - Home Equity Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Average Impaired Loans	74	29
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Average Impaired Loans	700	845
Interest Income Recognized on Impaired Loans	$ 1	$ 9

Loans Receivable and Related _8

Loans Receivable and Related Allowance for Loan Losses (4) (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	$ 1,002,508	$ 1,039,001	$ 1,001,763
Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	892,531	945,002
Special Mention [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	62,574	62,818
Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	47,403	31,181
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	101,852	116,584	99,494
Commercial and Industrial [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	94,914	110,099
Commercial and Industrial [Member] | Special Mention [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	6,277	6,368
Commercial and Industrial [Member] | Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	661	117
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	232,481	242,090	234,738
Residential Mortgage [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	228,646	238,610
Residential Mortgage [Member] | Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	3,835	3,480
Construction and Development - Residential and Commercial Receivables [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	73,000	65,703	49,095
Construction and Development - Residential and Commercial Receivables [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	73,000	65,703
Construction and Development - Land Receivable [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	3,648	3,110	3,625
Construction and Development - Land Receivable [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	3,648	3,110
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	478,808	495,398	521,495
Commercial Real Estate [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	392,611	422,143
Commercial Real Estate [Member] | Special Mention [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	46,790	46,892
Commercial Real Estate [Member] | Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	39,407	26,363
Commercial Farmland [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	7,378	7,517	7,563
Commercial Farmland [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	5,091	7,517
Commercial Farmland [Member] | Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	2,287
Commercial Multi Family Receivable [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	67,457	67,767	43,473
Commercial Multi Family Receivable [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	58,025	58,285
Commercial Multi Family Receivable [Member] | Special Mention [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	9,432	9,482
Commercial - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	10,010	10,142	8,569
Commercial - Other Receivable [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	10,010	10,142
Consumer - Home Equity Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	16,389	17,128	18,372
Consumer - Home Equity Lines of Credit [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	16,232	16,969
Consumer - Home Equity Lines of Credit [Member] | Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	157	159
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	9,097	10,711	13,179
Consumer - Second Mortgages Receivable [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	7,966	9,573
Consumer - Second Mortgages Receivable [Member] | Special Mention [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	75	76
Consumer - Second Mortgages Receivable [Member] | Substandard [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	1,056	1,062
Consumer - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	2,388	2,851	$ 2,160
Consumer - Other Receivable [Member] | Pass [Member]
Financing Receivable, Impaired [Line Items]
Loans and Leases, gross	$ 2,388	$ 2,851

Loans Receivable and Related _9

Loans Receivable and Related Allowance for Loan Losses (5) (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020
Financing Receivable, Impaired [Line Items]
Total non-accrual loans	$ 16,240	$ 16,730
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Total non-accrual loans	1,916	2,036
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Total non-accrual loans	14,042	14,414
Consumer - Home Equity Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Total non-accrual loans	73	26
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total non-accrual loans	$ 209	$ 254

Loans Receivable and Related_10

Loans Receivable and Related Allowance for Loan Losses (6) (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Impaired [Line Items]
Current	$ 979,050	$ 1,035,788
Past Due	23,458	3,213
Total Loans Receivable	1,002,508	1,039,001	$ 1,001,763
Accruing 90 Days or More Past Due	775	58
30 to 59 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	21,062	225
60 to 89 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	574	728
Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	1,822	2,260
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Current	98,898	116,584
Past Due	2,954
Total Loans Receivable	101,852	116,584	99,494
Commercial and Industrial [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	2,954
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Current	228,711	239,623
Past Due	3,770	2,467
Total Loans Receivable	232,481	242,090	234,738
Accruing 90 Days or More Past Due	710
Residential Mortgage [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	1,678	68
Residential Mortgage [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	520	694
Residential Mortgage [Member] | Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	1,572	1,705
Construction and Development - Residential and Commercial Receivables [Member]
Financing Receivable, Impaired [Line Items]
Current	73,000	65,703
Total Loans Receivable	73,000	65,703	49,095
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Current	464,949	495,087
Past Due	13,859	311
Total Loans Receivable	478,808	495,398	521,495
Commercial Real Estate [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	13,859
Commercial Real Estate [Member] | Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due		311
Commercial Farmland [Member]
Financing Receivable, Impaired [Line Items]
Current	5,091	7,517
Past Due	2,287
Total Loans Receivable	7,378	7,517	7,563
Commercial Farmland [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	2,287
Commercial Multi Family Receivable [Member]
Financing Receivable, Impaired [Line Items]
Current	67,457	67,767
Total Loans Receivable	67,457	67,767	43,473
Commercial - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Current	10,010	10,142
Total Loans Receivable	10,010	10,142	8,569
Consumer - Home Equity Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Current	16,230	17,080
Past Due	159	48
Total Loans Receivable	16,389	17,128	18,372
Accruing 90 Days or More Past Due		48
Consumer - Home Equity Lines of Credit [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	86
Consumer - Home Equity Lines of Credit [Member] | Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	73	48
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Current	8,669	10,325
Past Due	428	386
Total Loans Receivable	9,097	10,711	13,179
Accruing 90 Days or More Past Due	65	10
Consumer - Second Mortgages Receivable [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	197	157
Consumer - Second Mortgages Receivable [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	54	33
Consumer - Second Mortgages Receivable [Member] | Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	177	196
Consumer - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Current	2,387	2,850
Past Due	1	1
Total Loans Receivable	2,388	2,851	2,160
Consumer - Other Receivable [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due	1
Consumer - Other Receivable [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Impaired [Line Items]
Past Due		1
Construction and Development - Land Receivable [Member]
Financing Receivable, Impaired [Line Items]
Current	3,648	3,110
Total Loans Receivable	$ 3,648	$ 3,110	$ 3,625

Loans Receivable and Related_11

Loans Receivable and Related Allowance for Loan Losses (7) (Detail) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2020USD ($)Number	Sep. 30, 2020USD ($)Number
Financing Receivable, Impaired [Line Items]
Total Troubled Debt Restructurings, Number of Loans | Number	28	26
Total Troubled Debt Restructurings, Recorded Investment | $	$ 24,372	$ 21,687
Troubled Debt Restructured Loans That Have Defaulted on Modified Terms Within The Past 12 Months, Number of Loans | Number	8	8
Troubled Debt Restructured Loans That Have Defaulted on Modified Terms Within The Past 12 Months, Recorded Investment | $	$ 8,144	$ 8,269
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Total Troubled Debt Restructurings, Number of Loans | Number	1
Total Troubled Debt Restructurings, Recorded Investment | $	$ 549
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Total Troubled Debt Restructurings, Number of Loans | Number	17	17
Total Troubled Debt Restructurings, Recorded Investment | $	$ 3,359	$ 3,435
Troubled Debt Restructured Loans That Have Defaulted on Modified Terms Within The Past 12 Months, Number of Loans | Number	7	7
Troubled Debt Restructured Loans That Have Defaulted on Modified Terms Within The Past 12 Months, Recorded Investment | $	$ 1,553	$ 1,617
Commercial Farmland [Member]
Financing Receivable, Impaired [Line Items]
Total Troubled Debt Restructurings, Number of Loans | Number	1
Total Troubled Debt Restructurings, Recorded Investment | $	$ 2,287
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Total Troubled Debt Restructurings, Number of Loans | Number	5	5
Total Troubled Debt Restructurings, Recorded Investment | $	$ 18,021	$ 18,091
Troubled Debt Restructured Loans That Have Defaulted on Modified Terms Within The Past 12 Months, Number of Loans | Number	1	1
Troubled Debt Restructured Loans That Have Defaulted on Modified Terms Within The Past 12 Months, Recorded Investment | $	$ 6,591	$ 6,652
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Total Troubled Debt Restructurings, Number of Loans | Number	4	4
Total Troubled Debt Restructurings, Recorded Investment | $	$ 156	$ 161

Loans Receivable and Related_12

Loans Receivable and Related Allowance for Loan Losses (8) (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020
Recorded Investment	$ 24,372	$ 21,687
Performing Financing Receivable [Member]
Recorded Investment	16,229	13,418
Nonperforming Financing Receivable [Member]
Recorded Investment	8,144	8,269
Commercial and Industrial [Member]
Recorded Investment	549
Commercial and Industrial [Member] | Performing Financing Receivable [Member]
Recorded Investment	549
Residential Mortgage [Member]
Recorded Investment	3,359	3,435
Residential Mortgage [Member] | Performing Financing Receivable [Member]
Recorded Investment	1,806	1,818
Residential Mortgage [Member] | Nonperforming Financing Receivable [Member]
Recorded Investment	1,553	1,617
Commercial Farmland [Member]
Recorded Investment	2,287
Commercial Farmland [Member] | Performing Financing Receivable [Member]
Recorded Investment	2,287
Commercial Real Estate [Member]
Recorded Investment	18,021	18,091
Commercial Real Estate [Member] | Performing Financing Receivable [Member]
Recorded Investment	11,431	11,439
Commercial Real Estate [Member] | Nonperforming Financing Receivable [Member]
Recorded Investment	6,591	6,652
Consumer - Second Mortgages Receivable [Member]
Recorded Investment	156	161
Consumer - Second Mortgages Receivable [Member] | Performing Financing Receivable [Member]
Recorded Investment	$ 156	$ 161

Loans Receivable and Related_13

Loans Receivable and Related Allowance for Loan Losses (9) (Detail) $ in Thousands	3 Months Ended
	Dec. 31, 2020USD ($)Number	Dec. 31, 2019USD ($)Number
Financing Receivable, Impaired [Line Items]
Number of Contracts | Number	2	2
Pre-Modifications Outstanding Recorded Investment	$ 2,836	$ 502
Post-Modification Outstanding Recorded Investment	$ 2,836	$ 502
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Number of Contracts | Number	1
Pre-Modifications Outstanding Recorded Investment	$ 549
Post-Modification Outstanding Recorded Investment	$ 549
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Number of Contracts | Number		1
Pre-Modifications Outstanding Recorded Investment		$ 207
Post-Modification Outstanding Recorded Investment		$ 207
Commercial Farmland [Member]
Financing Receivable, Impaired [Line Items]
Number of Contracts | Number	1
Pre-Modifications Outstanding Recorded Investment	$ 2,287
Post-Modification Outstanding Recorded Investment	$ 2,287
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Number of Contracts | Number		1
Pre-Modifications Outstanding Recorded Investment		$ 295
Post-Modification Outstanding Recorded Investment		$ 295

Loans Receivable and Related_14

Loans Receivable and Related Allowance for Loan Losses (10) (Detail) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2020USD ($)Number	Sep. 30, 2020USD ($)Number
Financing Receivable, Impaired [Line Items]
Number of Loans | Number	16	43
Loan Deferment Exposure	$ 68,903	$ 144,785
Gross Loans	$ 1,002,508	$ 1,039,001
Percentage of Gross Loans on Deferral	6.87%	13.94%
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Number of Loans | Number	1	10
Loan Deferment Exposure	$ 22	$ 5,547
Gross Loans	$ 101,852	$ 116,584
Percentage of Gross Loans on Deferral	0.00%	0.53%
Residential Mortgage [Member]
Financing Receivable, Impaired [Line Items]
Number of Loans | Number	5	5
Loan Deferment Exposure	$ 934	$ 1,288
Gross Loans	$ 232,481	$ 242,090
Percentage of Gross Loans on Deferral	0.09%	0.12%
Construction and Development - Residential and Commercial Receivables [Member]
Financing Receivable, Impaired [Line Items]
Gross Loans	$ 73,000	$ 65,703
Percentage of Gross Loans on Deferral	0.00%	0.00%
Construction and Development - Land Receivable [Member]
Financing Receivable, Impaired [Line Items]
Gross Loans	$ 3,648	$ 3,110
Percentage of Gross Loans on Deferral	0.00%	0.00%
Construction And Development Receivable [Member]
Financing Receivable, Impaired [Line Items]
Gross Loans	$ 76,648	$ 68,813
Percentage of Gross Loans on Deferral	0.00%	0.00%
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Number of Loans | Number	7	21
Loan Deferment Exposure	$ 67,082	$ 131,348
Gross Loans	$ 478,808	$ 495,398
Percentage of Gross Loans on Deferral	6.69%	12.64%
Commercial Farmland [Member]
Financing Receivable, Impaired [Line Items]
Number of Loans | Number		1
Loan Deferment Exposure		$ 2,288
Gross Loans	$ 7,378	$ 7,517
Percentage of Gross Loans on Deferral	0.00%	0.22%
Commercial Multi Family Receivable [Member]
Financing Receivable, Impaired [Line Items]
Number of Loans | Number	1	2
Loan Deferment Exposure	$ 717	$ 3,718
Gross Loans	$ 67,457	$ 67,767
Percentage of Gross Loans on Deferral	0.08%	0.36%
Commercial - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Gross Loans	$ 10,010	$ 10,142
Percentage of Gross Loans on Deferral	0.00%	0.00%
Commercial [Member]
Financing Receivable, Impaired [Line Items]
Number of Loans | Number	9	34
Loan Deferment Exposure	$ 67,821	$ 142,901
Gross Loans	$ 665,505	$ 697,408
Percentage of Gross Loans on Deferral	6.77%	13.75%
Consumer - Home Equity Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Number of Loans | Number	1	3
Loan Deferment Exposure	$ 131	$ 579
Gross Loans	$ 16,389	$ 17,128
Percentage of Gross Loans on Deferral	0.01%	0.06%
Consumer - Second Mortgages Receivable [Member]
Financing Receivable, Impaired [Line Items]
Number of Loans | Number	1	1
Loan Deferment Exposure	$ 17	$ 17
Gross Loans	$ 9,097	$ 10,711
Percentage of Gross Loans on Deferral	0.00%	0.00%
Consumer - Other Receivable [Member]
Financing Receivable, Impaired [Line Items]
Gross Loans	$ 2,388	$ 2,851
Percentage of Gross Loans on Deferral	0.00%	0.00%
Consumer Receivable [Member]
Financing Receivable, Impaired [Line Items]
Number of Loans | Number	2	4
Loan Deferment Exposure	$ 148	$ 596
Gross Loans	$ 27,874	$ 30,690
Percentage of Gross Loans on Deferral	0.01%	0.06%

Regulatory Matters (Narrative)

Regulatory Matters (Narrative) (Detail) - Malvern Federal Savings Bank [Member]	Dec. 31, 2020	Sep. 30, 2020	Jan. 01, 2019	Jan. 01, 2016	Jan. 01, 2015	Dec. 31, 2014
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity Tier 1 capital ratio				7	4.5	4
Tier 1 capital ratio	6	6		8.5	6
Tier 1 Capital conservation buffer			2.50%
Total capital ratio	17	16.64		10.5
Capital conservation buffer percentage of risk-weighted assets				0.625%

Regulatory Matters (Detail)

Regulatory Matters (Detail) $ in Thousands	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jan. 01, 2016	Jan. 01, 2015
Parent Company [Member]
Capital (to adjusted tangible assets): Actual Amount	$ 144,059	$ 141,681
Common equity Tier 1(to risk-weighted assets): Actual Amount	144,059	141,681
Tier 1 Capital (to risk-weighted assets): Actual Amount	144,059	141,681
Total Capital (to risk-weighted assets): Actual Amount	$ 151,478	$ 178,972
Capital (to adjusted tangible assets): Actual Ratio	11.76	11.63
Common equity Tier 1(to risk-weighted assets): Actual Ratio	14.30	14
Tier 1 Capital (to risk-weighted assets): Actual Ratio	14.30	14
Total Capital (to risk-weighted assets): Actual Ratio	18.01	17.69
Capital (to adjusted tangible assets): For Capital Adequacy Purposes Amount	$ 48,991	$ 48,473
Common Equity Tier 1 Capital (to risk weighted assets)	45,347	45,528
Tier 1 Capital (to risk weighted assets)	60,462	60,704
Total Capital (to risk weighted assets)	$ 80,616	$ 80,939
Capital (to adjusted tangible assets): For Capital Adequacy Purposes Ratio	4	4
Common Equity Tier 1 Capital (to risk weighted assets)	4.50	4.50
Tier 1 Capital (to risk weighted assets)	6	6
Total Capital (to risk weighted assets)	8	8
Malvern Federal Savings Bank [Member]
Capital (to adjusted tangible assets): Actual Amount	$ 158,399	$ 155,575
Common equity Tier 1(to risk-weighted assets): Actual Amount	158,399	155,575
Tier 1 Capital (to risk-weighted assets): Actual Amount	158,399	155,575
Total Capital (to risk-weighted assets): Actual Amount	$ 170,982	$ 168,090
Capital (to adjusted tangible assets): Actual Ratio	12.95	12.78
Common equity Tier 1(to risk-weighted assets): Actual Ratio	15.74	15.40
Tier 1 Capital (to risk-weighted assets): Actual Ratio	15.74	15.40
Total Capital (to risk-weighted assets): Actual Ratio	17	16.64	10.5
Capital (to adjusted tangible assets): For Capital Adequacy Purposes Amount	$ 48,929	$ 48,685
Common Equity Tier 1 Capital (to risk weighted assets)	45,272	45,459
Tier 1 Capital (to risk weighted assets)	60,363	60,612
Total Capital (to risk weighted assets)	$ 80,484	$ 80,816
Capital (to adjusted tangible assets): For Capital Adequacy Purposes Ratio	4	4
Common Equity Tier 1 Capital (to risk weighted assets)	4.50	4.50
Tier 1 Capital (to risk weighted assets)	6	6	8.5	6
Total Capital (to risk weighted assets)	8	8
Capital (to adjusted tangible assets): To be Well Capitalized under Prompt Corrective Action Provisions Capital Amount	$ 61,162	$ 60,856
Common Equity Tier 1 Capital (to risk weighted assets)	65,393	65,663
Tier 1 Capital (to risk weighted assets)	80,484	80,816
Total Capital (to risk weighted assets)	$ 100,605	$ 101,020
Capital (to adjusted tangible assets): To be Well Capitalized under Prompt Corrective Action Provisions Ratio	5	5
Common Equity Tier 1 Capital (to risk weighted assets)	6.50	6.50
Tier 1 Capital (to risk weighted assets)	8	8
Total Capital (to risk weighted assets)	10	10

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Detail) - USD ($)	3 Months Ended
	Dec. 31, 2020	Sep. 30, 2020
Derivative [Line Items]
Minimum collateral posting thresholds with derivative counterparties	$ 12,900,000	$ 12,900,000
Interest Rate Swap [Member]
Derivative [Line Items]
Estimated interest expense	$ 787,000

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Detail) - Interest Rate Swap Agreements [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020
Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Notional Amount, Liability Derivatives	$ 90,000	$ 90,000
Fair Value	1,017	1,291
Derivatives Not Designated As Hedging Instrument [Member] | Other Assets [Member]
Notional Amount, Asset Derivatives	45,060	45,162
Fair Value	7,488	8,752
Derivatives Not Designated As Hedging Instrument [Member] | Other Liabilities [Member]
Notional Amount, Liability Derivatives	45,060	45,162
Fair Value	$ 7,492	$ 8,756

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Schedule of Offsetting of Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2019
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	$ 7,488	$ 8,752
Net Amounts of Assets presented in the Statement of Financial Condition	7,488	8,752
Gross Amounts Not Offset in the Statements of Financial Condition, Net Amount	7,488	8,752
Offsetting of Derivative Liabilities
Gross Amounts of Recognized Liabilities	8,509	10,047
Net Amounts of Liabilities presented in the Statement of Financial Condition	8,509	10,047
Gross Amounts Not Offset in the Statements of Financial Condition, Financial Instruments	1,230	1,498
Gross Amounts Not Offset in the Statements of Financial Condition, Cash Collateral Posted	12,857	12,857
Gross Amounts Not Offset in the Statements of Financial Condition, Net Amount	$ (5,578)	$ (4,308)

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities - Statement of Operations Relating to The Cash Flow Derivative Instrument (Detail) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Amount of Loss Recognized in OCI on Derivative	$ (8)	$ 77
Amount of Gain (Loss) Reclassified from OCI to Interest Expense	(280)	(14)
Interest Rate Swap Agreements [Member]
Derivative [Line Items]
Amount of Loss Recognized in OCI on Derivative	(8)	77
Amount of Gain (Loss) Reclassified from OCI to Interest Expense	$ (280)	$ (14)

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities - Schedule of Effects of Derivative Instruments on Consolidated Statements of Operations (Detail) - Derivatives Not Designated As Hedging Instrument [Member] - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Amount of Gain (Loss) Recognized in Income on derivatives	$ 1	$ (3)
Interest Rate Swap Agreements [Member] | Other Income [Member]
Amount of Gain (Loss) Recognized in Income on derivatives	$ 1	$ (3)

Fair Value Measurements (Detail

Fair Value Measurements (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2019
Assets
Investment securities available for sale, at fair value	$ 35,224	$ 31,541
Derivative instruments	7,488		$ 8,752
Liabilities
Derivative instruments	8,509		$ 10,047
U. S. Government Agencies [Member]
Assets
Investment securities available for sale, at fair value	5,020	5,040
State And Municipal Obligations [Member]
Assets
Investment securities available for sale, at fair value	2,678	3,105
Single Issuer Trust Preferred Security [Member]
Assets
Investment securities available for sale, at fair value	908	925
Corporate Debt Securities [Member]
Assets
Investment securities available for sale, at fair value	25,098	20,948
Mutual Funds [Member]
Assets
Investment securities available for sale, at fair value	1,520	1,523
Fair Value, Measurements, Recurring [Member]
Assets
Investment securities available for sale, at fair value	35,224	31,541
Derivative instruments	7,488	8,752
Liabilities
Derivative instruments	8,509	10,047
Fair Value, Measurements, Recurring [Member] | U. S. Government Agencies [Member]
Assets
Investment securities available for sale, at fair value	5,020	5,040
Fair Value, Measurements, Recurring [Member] | State And Municipal Obligations [Member]
Assets
Investment securities available for sale, at fair value	2,678	3,105
Fair Value, Measurements, Recurring [Member] | Single Issuer Trust Preferred Security [Member]
Assets
Investment securities available for sale, at fair value	908	925
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member]
Assets
Investment securities available for sale, at fair value	25,098	20,948
Fair Value, Measurements, Recurring [Member] | Mutual Funds [Member]
Assets
Investment securities available for sale, at fair value	1,520	1,523
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets
Investment securities available for sale, at fair value	1,020	1,023
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual Funds [Member]
Assets
Investment securities available for sale, at fair value	1,020	1,023
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets
Investment securities available for sale, at fair value	33,704	30,018
Derivative instruments	7,488	8,752
Liabilities
Derivative instruments	8,509	10,047
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | U. S. Government Agencies [Member]
Assets
Investment securities available for sale, at fair value	5,020	5,040
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	2,678	3,105
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	908	925
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]
Assets
Investment securities available for sale, at fair value	25,098	20,948
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets
Investment securities available for sale, at fair value	500	500
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mutual Funds [Member]
Assets
Investment securities available for sale, at fair value	$ 500	$ 500

Fair Value Measurements (1) (De

Fair Value Measurements (1) (Detail) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance, October 1, 2020	$ 500	$ 250
Purchases		250
Balance, December 31, 2020	$ 500	$ 500

Fair Value Measurements (2) (De

Fair Value Measurements (2) (Detail) $ in Thousands	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Real Estate Owned, Measurement Input	0	0
Fair Value, Inputs, Level 3 [Member] | Weighted Average [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Real Estate Owned, Measurement Input	0	0
Impaired Loans, Measurement Input	0.014	0.014
Fair Value, Inputs, Level 3 [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans, Measurement Input	0.020	0.020
Fair Value, Inputs, Level 3 [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans, Measurement Input	0.20	0.20
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value, nonrecurring basis	$ 15,393	$ 13,716
Fair Value, Measurements, Nonrecurring [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	5,796
Fair Value, Measurements, Nonrecurring [Member] | Impaired Loans Net [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value, nonrecurring basis	9,597	7,920
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value, nonrecurring basis	15,393	13,716
Fair Value, Measurements, Nonrecurring [Member] | 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	5,796
Fair Value, Measurements, Nonrecurring [Member] | 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	$ 9,597	$ 7,920

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Detail) - USD ($)	Dec. 31, 2020	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Impaired Loans with aggregate balance	$ 10,200,000	$ 8,200,000
Impaired Loans with specific loan loss allowance	$ 604,000	$ 308,000

Fair Value Measurements (3) (De

Fair Value Measurements (3) (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2019
Financial assets:
Investment securities available-for-sale	$ 35,224	$ 31,541
Investment securities held-to-maturity	14,745	15,608
Derivatives (included in Other Assets)	7,488		$ 8,752
Financial liabilities:
Derivatives (included in Other Liabilities)	8,509		$ 10,047
Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	109,222	61,439
Investment securities available-for-sale	35,224	31,541
Investment securities held-to-maturity	14,161	14,970
Loans receivable, net (including impaired loans)	990,346	1,031,392
Accrued interest receivable	4,051	3,677
Restricted stock	9,327	9,622
Mortgage servicing rights (included in Other Assets)	87	111
Derivatives (included in Other Assets)	7,488	8,752
Financial liabilities:
Savings accounts	46,531	45,072
Checking and NOW accounts	352,799	354,104
Money market accounts	303,796	277,711
Certificates of deposit	197,339	214,019
Borrowings (excluding sub debt)	135,000	134,225
Subordinated debt	24,816	24,776
Derivatives (included in Other Liabilities)	8,509	10,047
Accrued interest payable	1,078	728
Fair Value [Member]
Financial assets:
Cash and cash equivalents	109,222	61,439
Investment securities available-for-sale	35,224	31,541
Investment securities held-to-maturity	14,745	15,608
Loans receivable, net (including impaired loans)	998,545	1,039,981
Accrued interest receivable	4,051	3,677
Restricted stock	9,327	9,622
Mortgage servicing rights (included in Other Assets)	87	111
Derivatives (included in Other Assets)	7,488	8,752
Financial liabilities:
Savings accounts	46,531	45,072
Checking and NOW accounts	352,799	354,104
Money market accounts	303,796	277,711
Certificates of deposit	199,959	217,212
Borrowings (excluding sub debt)	135,706	135,101
Subordinated debt	24,845	25,030
Derivatives (included in Other Liabilities)	8,509	10,047
Accrued interest payable	1,078	728
Fair Value, Inputs, Level 1 [Member] | Fair Value [Member]
Financial assets:
Cash and cash equivalents	109,222	61,439
Investment securities available-for-sale	1,020	1,023
Fair Value, Inputs, Level 2 [Member] | Fair Value [Member]
Financial assets:
Investment securities available-for-sale	33,704	30,018
Investment securities held-to-maturity	14,745	15,608
Accrued interest receivable	4,051	3,677
Restricted stock	9,327	9,622
Mortgage servicing rights (included in Other Assets)	87	111
Derivatives (included in Other Assets)	7,488	8,752
Financial liabilities:
Savings accounts	46,531	45,072
Checking and NOW accounts	352,799	354,104
Money market accounts	303,796	277,711
Certificates of deposit	199,959	217,212
Borrowings (excluding sub debt)	135,706	135,101
Subordinated debt	24,845	25,030
Derivatives (included in Other Liabilities)	8,509	10,047
Accrued interest payable	1,078	728
Fair Value, Inputs, Level 3 [Member] | Fair Value [Member]
Financial assets:
Investment securities available-for-sale	500	500
Loans receivable, net (including impaired loans)	$ 998,545	$ 1,039,981

Comprehensive Income (Loss) (De

Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020
Equity [Abstract]
Net unrealized holding losses on available-for-sale securities	$ (15)	$ (118)
Tax effect	3	25
Net of tax amount	(12)	(93)
Fair value adjustments on derivatives	(989)	(1,260)
Tax effect	208	265
Net of tax amount	(781)	(995)
Total accumulated other comprehensive loss	$ (793)	$ (1,088)

Comprehensive Income (Loss) (1)

Comprehensive Income (Loss) (1) (Detail) - USD ($) $ in Thousands		3 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Equity [Abstract]
Unrealized holding (losses) gains on available-for-sale securities		$ 457	$ 71
Net realized gain on securities available-for-sale	[1]	(355)
Amortization of unrealized holding losses on securities transferred from available-for-sale to held-to-maturity	[2]	1	1
Adjustment for loss recorded on replacement of derivative		(2)
Fair value adjustments on derivatives		273	91
Other comprehensive income before taxes		374	163
Tax effect		(79)	(34)
Other comprehensive income		$ 295	$ 129
[1]	Amounts are included in net gains on sale of investments on the Consolidated Statements of Operations in total other income.
[2]	Amounts are included in interest and dividends on investment securities on the Consolidated Statements of Operations.

Equity Based Incentive Compen_3

Equity Based Incentive Compensation Plan (Narrative) (Detail) - USD ($)	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted shares	0	0
Share-based compensation	$ 52,000	$ 32,000
Granted shares	0	1,764
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	318,651
Description of vesting right	Restricted stock and option awards granted vest annually in 20% increments beginning on the one year anniversary of the grant date
Granted shares	0	0
Share-based compensation	$ 8,000	$ 6,000
Compensation cost not yet recognized	$ 76,000
Weighted average period	3 years
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]
Share-based compensation	$ 44,000	$ 26,000
Granted shares	0	1,764
Forfeited shares		1,610
Compensation cost not yet recognized	$ 318,000
Weighted average period	3 years 4 months 17 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) - $ / shares	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Granted	0	0
Malvern Bancorp, Inc. 2014 Long Term Incentive Compensation Plan (the 2014 Plan) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning of year	25,830
Granted	0	0
Outstanding, end of year	25,830
Exercisable at end of year	9,310
Nonvested at end of year	16,520
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of year	$ 21.57
Outstanding, end of year	21.57
Exercisable at end of year	22.09
Nonvested at end of year	$ 21.28
Share-based Compensation Arrangement by Share-based Payment Award, Options, Weighted Average Remaining Contractual Life [Roll Forward]
Outstanding, end of year	6 years 7 months 5 days
Exercisable at end of year	8 years 1 month 10 days

Equity Based Incentive Compen_5

Equity Based Incentive Compensation Plan 2 - Restricted Stock Awards (Detail) - $ / shares	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted	0	1,764
Restricted Stock [Member] | Malvern Bancorp, Inc. 2014 Long Term Incentive Compensation Plan (the 2014 Plan) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning of year	30,653
Granted	0	1,764
Vested	(859)
Forfeited/cancelled/expired		(1,610)
Outstanding, end of year	29,794
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	$ 21.98
Vested	21.01
Outstanding, end of year	$ 22

Deposits (Detail)

Deposits (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020
Deposits:
Savings	$ 46,531	$ 45,072
Money market accounts	303,796	277,711
Interest-bearing demand	303,535	303,682
Non-interest-bearing demand	49,264	50,422
Total deposits before certificates of deposit	703,126	676,887
Certificates of deposit	197,339	214,019
Total Deposits	$ 900,465	$ 890,906
Percentage of savings	5.17%	5.06%
Percentage of money market accounts	33.73%	31.17%
Percentage of interest bearing demand	33.71%	34.09%
Percentage of non-interest bearing demand	5.47%	5.66%
Percentage of total deposits before certificates of deposit	78.08%	75.98%
Percentage of certificates of deposit	21.92%	24.02%
Percentage of total deposits	100.00%	100.00%

Deposits (Narrative) (Detail)

Deposits (Narrative) (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020
Deposits:
Certificates of deposit of $250,000 and greater	$ 54.4	$ 48.4
Brokered deposits	$ 6.1	$ 31.1

Deposits 1 (Detail)

Deposits 1 (Detail) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Deposits:
Savings accounts	$ 18	$ 11
Money market accounts	791	1,098
Interest-bearing demand	547	1,181
Certificates of deposit	901	1,447
Total	$ 2,257	$ 3,737

Deposits (2) (Detail)

Deposits (2) (Detail) $ in Thousands	Dec. 31, 2020USD ($)
Deposits:
2021	$ 138,051
2022	25,402
2023	17,107
2024	9,551
2025	5,685
Thereafter	1,543
Total	$ 197,339

Deposits (3) (Detail)

Deposits (3) (Detail) $ in Thousands	Dec. 31, 2020USD ($)
Offsetting [Abstract]
Contract maturities of certificate of deposits in amount greater than $100,000, Three months or less	$ 43,247
Contract maturities of certificate of deposits in amount greater than $100,000, Over three through six months	44,048
Contract maturities of certificate of deposits in amount greater than $100,000, Over six through twelve months	14,609
Contract maturities of certificate of deposits in amount greater than $100,000, Over twelve months	31,261
Contract maturities of certificate of deposits in amount greater than $100,000, Total	$ 133,165

Leases (Narrative) (Detail)

Leases (Narrative) (Detail) $ in Thousands	3 Months Ended
	Dec. 31, 2020USD ($)FinancialCentreOfficeLease	Sep. 30, 2020USD ($)	Oct. 01, 2019USD ($)
Lessee Lease Description [Line Items]
Operating lease right-of-use assets | $	$ 2,479	$ 2,638
Operating lease liabilities | $	$ 2,512	$ 2,671
Number of leases | Lease	3
Lessee, Operating Lease, Existence of Option to Extend [true false]	true
Lessee, operating lease, renewal term	5 years
Private Banking Office
Lessee Lease Description [Line Items]
Number of office leases included in option to extend	2
Private Banking Office | Short-term Leases [Member]
Lessee Lease Description [Line Items]
Number of offices	2
Representative Office | Short-term Leases [Member]
Lessee Lease Description [Line Items]
Number of offices	2
Glen Mills, Pennsylvania
Lessee Lease Description [Line Items]
Number of financial centers | FinancialCentre	1
Villanova, Pennsylvania | Private Banking Office
Lessee Lease Description [Line Items]
Number of offices	1
Morris County, Morristown, New Jersey | Private Banking Office
Lessee Lease Description [Line Items]
Number of offices	1
Palm Beach, Florida | Private Banking Office
Lessee Lease Description [Line Items]
Number of offices	1
Palm Beach, Florida | Representative Office
Lessee Lease Description [Line Items]
Number of offices	1
Allentown, Pennsylvania | Representative Office
Lessee Lease Description [Line Items]
Number of offices	1
ASU 2016-02 [Member]
Lessee Lease Description [Line Items]
Operating lease right-of-use assets | $			$ 3,300
Operating lease liabilities | $			$ 3,300
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Oct. 1, 2019
Change in Accounting Principle, Accounting Standards Update, Adopted	true
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect	false

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 171	$ 175
Short-term lease cost	22	25
Total	$ 193	$ 200

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Information of Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020
Supplemental balance sheet information
Operating lease right-of-use assets	$ 2,479		$ 2,638
Operating lease liabilities	$ 2,512		$ 2,671
Weighted average remaining lease term	5 years 2 months 26 days
Weighted average discount rate	1.99%
Supplemental cash flow information
Operating cash flows from operating leases	$ 172
ROU assets obtained in exchange for lease obligations	$ 3,279	$ 3,279

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020
Leases [Abstract]
Remainder of 2021	$ 426
2022	492
2023	474
2024	474
2025	477
Thereafter	269
Total lease payments	2,612
Less: imputed interest	(100)
Total	$ 2,512	$ 2,671