Hanover Bancorp (HNVR) 10-Q 18 Aug 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2021	Aug. 05, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity File Number	333-252262
Entity Registrant Name	Hanover Bancorp, Inc. /NY
Entity Central Index Key	0001828588
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	81-3324480
Entity Address, Address Line One	80 East Jericho Turnpike
Entity Address, City or Town	Mineola
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11501
City Area Code	516
Local Phone Number	548-8500
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		5,551,290

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
ASSETS
Cash and non-interest-bearing deposits due from banks	$ 26,715	$ 6,239
Interest-bearing deposits due from banks	144,118	73,970
Federal funds sold	101	0
Total cash and cash equivalents	170,934	80,209
Securities:
Held to maturity (fair value of $9,263 and $11,131, respectively)	8,987	10,727
Available for sale, at fair value	7,777	6,035
Total securities	16,764	16,762
Loans held for sale	3,883	0
Loans held for investment	1,293,262	725,019
Allowance for loan losses	(7,852)	(7,869)
Loans held for investment, net	1,285,410	717,150
Premises and equipment, net	14,606	14,156
Accrued interest receivable	10,270	6,766
Prepaid pension	4,237	4,660
Restricted securities, at cost	4,116	4,202
Goodwill	18,100	1,901
Other intangibles	502	22
Other assets	12,621	5,778
TOTAL ASSETS	1,541,443	851,606
Deposits:
Non-interest-bearing demand	179,259	82,350
Savings, NOW and money market	519,474	187,657
Time	460,689	394,753
Total deposits	1,159,422	664,760
Borrowings	228,625	85,154
Subordinated debentures	24,498	0
Note payable	0	14,984
Accrued interest payable	1,156	374
Other liabilities	12,504	8,291
TOTAL LIABILITIES	1,426,205	773,563
COMMITMENTS AND CONTINGENT LIABILITIES
STOCKHOLDERS' EQUITY
Preferred stock (par value $0.01; 15,000,000 shares authorized; none issued)	0	0
Common stock (par value $0.01; 17,000,000 shares authorized; issued and outstanding 5,552,457 and 4,175,144, respectively)	56	42
Surplus	97,014	63,725
Retained earnings	17,915	14,120
Accumulated other comprehensive income, net of tax	253	156
TOTAL STOCKHOLDERS' EQUITY	115,238	78,043
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,541,443	$ 851,606

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
ASSETS
Held to maturity, fair value	$ 9,263	$ 11,131
STOCKHOLDERS' EQUITY
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	15,000,000	15,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	17,000,000	17,000,000
Common stock, shares issued (in shares)	5,552,457	4,175,144
Common stock, shares outstanding (in shares)	5,552,457	4,175,144

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
INTEREST INCOME
Loans	$ 11,798	$ 9,450	$ 30,189	$ 29,124
Taxable securities	168	125	523	346
Federal funds sold	0	1	0	106
Other interest income	72	89	203	806
Total interest income	12,038	9,665	30,915	30,382
INTEREST EXPENSE
Savings, NOW and money market deposits	269	155	543	1,307
Time deposits	760	2,444	3,129	7,421
Borrowings	561	564	1,666	1,898
Total interest expense	1,590	3,163	5,338	10,626
Net interest income	10,448	6,502	25,577	19,756
Provision for loan losses	0	150	300	1,150
Net interest income after provision for loan losses	10,448	6,352	25,277	18,606
NON-INTEREST INCOME
Loan fees and service charges	257	53	448	190
Service charges on deposit accounts	34	12	66	47
Net gain on sale of loans held for sale	212	15	688	917
Net gain on sale of securities available for sale	0	0	240	0
Other income	147	19	186	75
Total non-interest income	650	99	1,628	1,229
NON-INTEREST EXPENSE
Salaries and employee benefits	3,980	2,688	10,481	8,162
Occupancy and equipment	1,300	1,078	3,680	3,293
Data processing	419	211	934	677
Advertising and promotion	18	63	85	280
Acquisition costs	3,937	0	4,233	236
Professional fees	369	290	1,089	1,632
Other expenses	709	338	1,545	1,170
Total non-interest expense	10,732	4,668	22,047	15,450
Income before income tax expense	366	1,783	4,858	4,385
Income tax expense	145	374	1,063	957
NET INCOME	$ 221	$ 1,409	$ 3,795	$ 3,428
EARNINGS PER COMMON SHARE - BASIC (in dollars per share)	$ 0.05	$ 0.34	$ 0.87	$ 0.82
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share)	$ 0.05	$ 0.33	$ 0.85	$ 0.81
WEIGHTED AVERAGE COMMON SHARES - BASIC (in shares)	4,731,949	4,166,961	4,368,809	4,159,531
WEIGHTED AVERAGE COMMON SHARES - DILUTED (in shares)	4,816,260	4,231,137	4,452,938	4,223,844

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income	$ 221	$ 1,409	$ 3,795	$ 3,428
Other comprehensive income, net of tax:
Change in unrealized gain on securities available for sale arising during the period, net of tax of $11, $5, $79 and $21, respectively	27	20	288	79
Reclassification adjustment for gains realized in net income, net of tax of $0, $0, ($49) and $0, respectively	0	0	(191)	0
Total other comprehensive income, net of tax	27	20	97	79
Total comprehensive income, net of tax	$ 248	$ 1,429	$ 3,892	$ 3,507

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Other comprehensive income, net of tax:
Change in unrealized gain on securities available for sale arising during the period, net of tax	$ 11	$ 5	$ 79	$ 21
Reclassification adjustment for gains realized in net income, net of tax	$ 0	$ 0	$ (49)	$ 0

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Surplus [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income, Net of Tax [Member]	Total
Balance at Sep. 30, 2019	$ 42	$ 62,740	$ 9,146	$ 22
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			3,428		$ 3,428
Stock-based compensation	0	547
Stock options exercised	0	107
Savoy acquisition rollover options value		0
Issuance of common stock	0	45
Other comprehensive income, net of tax				79	79
Balance at Jun. 30, 2020	42	63,439	12,574	101	76,156
Balance at Mar. 31, 2020	42	63,225	11,165	81
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			1,409		1,409
Stock-based compensation	0	214
Stock options exercised	0	0
Savoy acquisition rollover options value		0
Issuance of common stock	0	0
Other comprehensive income, net of tax				20	20
Balance at Jun. 30, 2020	42	63,439	12,574	101	76,156
Balance at Sep. 30, 2020	42	63,725	14,120	156	78,043
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			3,795		3,795
Stock-based compensation	0	669
Stock options exercised	0	0
Savoy acquisition rollover options value		1,269
Issuance of common stock	14	31,351
Other comprehensive income, net of tax				97	97
Balance at Jun. 30, 2021	56	97,014	17,915	253	115,238
Balance at Mar. 31, 2021	42	64,283	17,694	226
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			221		221
Stock-based compensation	0	224
Stock options exercised	0	0
Savoy acquisition rollover options value		1,269
Issuance of common stock	14	31,238
Other comprehensive income, net of tax				27	27
Balance at Jun. 30, 2021	$ 56	$ 97,014	$ 17,915	$ 253	$ 115,238

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - shares	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY [Abstract]
Stock-based compensation, shares issued (in shares)		7,000	15,727	21,841
Stock-based compensation, shares withheld (in shares)			441
Stock-based compensation, shares forfeited (in shares)			667	28,287
Stock option exercised, shares issued (in shares)				10,735
Issuance of common stock, shares issued (in shares)	1,357,567		1,362,694	2,076

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
NET INCOME	$ 3,795	$ 3,428
ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
Provision for loan losses	300	1,150
Depreciation and amortization	884	995
Net gain on sale of loans held for sale	(688)	(917)
Net gain on sale of securities available for sale	(240)	0
Stock-based compensation	669	547
Net (accretion) amortization of premiums, discounts, loan fees and costs	(848)	98
Amortization of debt issuance costs	59	2
Amortization of intangible assets	10	3
Mortgage servicing rights valuation adjustment	116	93
Deferred tax benefit	793	(301)
Decrease (increase) in accrued interest receivable	1,017	(2,671)
Decrease (increase) in other assets	647	(613)
Decrease in accrued interest payable	(268)	(99)
Increase (decrease) in other liabilities	737	(2,000)
Net cash provided by (used in) operating activities	6,983	(285)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of securities available for sale	(4,683)	(5,000)
Purchases of restricted securities	(346)	(78)
Proceeds from sales of securities available for sale	3,240	0
Principal repayments of securities held to maturity	1,727	842
Principal repayments of securities available for sale	294	24
Redemptions of restricted securities	1,192	1,726
Proceeds from sales of loans	32,045	32,581
Net increase in loans	(21,180)	(35,119)
Purchases of premises and equipment	(1,299)	(777)
Cash consideration paid in acquisition	(32,991)	0
Net cash acquired in business combination	59,155	0
Net cash provided by (used in) investing activities	37,154	(5,801)
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase in deposits	152,082	9,047
Repayments of Federal Home Loan Bank advances	(25,044)	(38,235)
Increase in Federal Reserve Bank borrowings	0	16,256
Repayments of Federal Reserve Bank borrowings	(90,018)	0
Proceeds from issuance of subordinated debentures, net of issuance costs	24,455	0
Repayment of note payable	(15,000)	0
Net proceeds from stock options exercised	0	107
Net proceeds from issuance of common stock	113	45
Net cash provided by (used in) financing activities	46,588	(12,780)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	90,725	(18,866)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	80,209	87,831
CASH AND CASH EQUIVALENTS, END OF PERIOD	170,934	68,965
SUPPLEMENTAL DATA:
Interest paid	5,606	10,439
Income taxes paid	1,245	945
SUPPLEMENTAL NON-CASH DISCLOSURE:
Transfers from portfolio loans to loans held for sale	36,084	31,246
Fair value of assets acquired, net of cash and due from banks	595,782	0
Fair value of liabilities assumed	605,815	0
Common stock issued in acquisition	$ 31,252	$ 0

BASIS OF PRESENTATION, RISKS AN

BASIS OF PRESENTATION, RISKS AND UNCERTAINTIES, ACCOUNTING POLICIES AND RECENT ACCOUNTING DEVELOPMENTS	9 Months Ended
	Jun. 30, 2021
BASIS OF PRESENTATION, RISKS AND UNCERTAINTIES, ACCOUNTING POLICIES AND RECENT ACCOUNTING DEVELOPMENTS [Abstract]
BASIS OF PRESENTATION, RISKS AND UNCERTAINTIES, ACCOUNTING POLICIES AND RECENT ACCOUNTING DEVELOPMENTS	1. BASIS OF PRESENTATION, RISKS AND UNCERTAINTIES, ACCOUNTING POLICIES AND RECENT ACCOUNTING DEVELOPMENTS Hanover Bancorp, Inc. (the “Company”), is a New York corporation which became the holding company for Hanover Community Bank (the “Bank”) in 2016. The Bank, headquartered in Mineola, New York, is a New York State chartered bank. The Bank commenced operations on November 4, 2008 and is a full-service bank providing personal and business lending and deposit services. As a New York State chartered, non-Federal Reserve member bank, the Bank is subject to regulation by the New York State Department of Financial Services (“DFS”) and the Federal Deposit Insurance Corporation. The Company is subject to regulation and examination by the Board of Governors of the Federal Reserve System (the “FRB”). Basis of Presentation In the opinion of the Company’s management, the preceding unaudited interim consolidated financial statements contain all adjustments, consisting of normal accruals, necessary for a fair presentation of the Company’s consolidated statement of financial condition as of June 30, 2021, its consolidated statements of income for the three and nine months ended June 30, 2021 and 2020, its consolidated statements of comprehensive income for the three and nine months ended June 30, 2021 and 2020, its consolidated statements of changes in stockholders’ equity for the three and nine months ended June 30, 2021 and 2020 and its consolidated statements of cash flows for the nine months ended June 30, 2021 and 2020. In addition, the preceding unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X, as well as in accordance with predominant practices within the banking industry. They do not include all the information and footnotes required by U.S. GAAP for complete financial statements. The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from those estimates. The results of operations for the three and nine months ended June 30, 2021 are not necessarily indicative of the results of operations to be expected for the remainder of the year. All material intercompany accounts and transactions have been eliminated in consolidation. Unless the context otherwise requires, references herein to the Company include the Company and the Bank on a consolidated basis. Risks and Uncertainties In March 2020, the World Health Organization declared the outbreak of COVID-19 a global pandemic. The COVID-19 pandemic has adversely affected, local, national and global economic activity. Various actions taken to help mitigate the spread of COVID-19 included restrictions on travel, quarantines and government-mandated closures of various businesses. The outbreak caused significant disruptions to the economy and disrupted banking and other financial activity in the areas in which the Company operates. The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted in March 2020 to, among other things, provide emergency assistance to individuals, families and businesses affected by the COVID-19 pandemic. The effects of the COVID-19 pandemic may materially and adversely affect the Company’s financial condition and results of operations in future periods, and it is unknown what the complete financial impact will be to the Company. The extent of such impact will depend on future developments, which are highly uncertain and cannot be predicted, including new information which may emerge concerning the coronavirus, the new “waves” of COVID-19 infections and the distribution of vaccines and vaccination rates, among others. It is possible that estimates made in the financial statements could be materially and adversely impacted due to these conditions, including estimates regarding expected credit losses on loans receivable and impairment of goodwill. Accounting Policies Allowance for Loan Losses Loans and Loan Interest Income Recognition - Loans that the Company has the intent and ability to hold for the foreseeable future or until maturity or payoff, are reported at the principal balance outstanding, net of purchase premiums and discounts, deferred loan fees and costs and an allowance for loan losses. The loan portfolio is segmented into residential real estate, multi-family, commercial real estate, commercial and industrial loans, construction and consumer loans. Interest income on loans is accrued and credited to income as earned. Net loan origination fees and costs are deferred and accreted/amortized to interest income over the loan’s contractual life using the level-yield method, adjusted for actual prepayments. Loans that are acquired are initially recorded at fair value with no carryover of the related allowance for loan losses. After acquisition, losses are recognized through the allowance for loan losses. Determining the fair value of the loans involves estimating the amount and timing of expected principal and interest cash flows to be collected on the loans and discounting those cash flows at a market interest rate. At June 30, 2021, the Company had loans totaling $11.1 million, which, at the time of acquisition, showed evidence of credit deterioration since origination. Purchased credit impaired loans were not material at September 30, 2020. Loans Held for Sale For liquidity purposes generally, there are instances when loans originated with the intent to hold in portfolio are subsequently transferred to loans held for sale. At transfer, they are carried at the lower of cost or fair value. Recent Accounting Developments Adoption of New Accounting Standards In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350), “Simplifying the Test for Goodwill Impairment.” The amendments in this ASU simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under the amendments in this ASU, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, not exceeding the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The ASU also eliminates the requirement for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. For non-public entities, ASU 2017-04 is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2021 with early adoption permitted. The amendments are to be applied on a prospective basis. An entity is required to disclose the nature of and reason for the change in accounting principle upon transition within the first annual period when the entity initially adopts the amendments. The Company adopted ASU 2017-04 on October 1, 2019 and determined that there was no impairment of goodwill under the new method. Recent Accounting Pronouncements - In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), “Measurement of Credit Losses on Financial Instruments,” which sets forth a current expected credit loss (“CECL”) model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. This replaces the incurred loss model and will apply to the measurement of credit losses on financial assets measured at amortized cost and to some off-balance sheet credit exposures. For the Company, an emerging growth company electing to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act, ASU 2016-13 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company has been gathering data and will be evaluating data and system requirements to implement this standard. The Company cannot yet determine the overall impact this standard will have on its consolidated financial statements upon adoption. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) which amended existing guidance that requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) A lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, the lessor accounting model and Topic 606, Revenue from Contracts with Customers. For the Company, an emerging growth company electing to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act, ASU 2016-02 is effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early application permitted. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. The Company is currently evaluating the adoption impact of ASU 2016-02 on the consolidated financial statements. Based on leases outstanding at June 30, 2021, the Company does not expect adoption to have a material impact on the income statement but does anticipate a material impact to the Company’s consolidated statement of financial condition as a result of recognizing right-of-use assets and lease liabilities.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	9 Months Ended
	Jun. 30, 2021
BUSINESS COMBINATIONS [Abstract]
BUSINESS COMBINATIONS	2. BUSINESS COMBINATIONS On May 26, 2021, the Company completed its previously announced acquisition of Savoy Bank (“Savoy”) pursuant to that certain Agreement and Plan of Merger (the “Merger Agreement”), dated as of August 27, 2020, as amended, between the Company, the Bank and Savoy. Pursuant to the Merger Agreement, Savoy was merged with and into the Bank, with the Bank surviving, in a two-step transaction (collectively, the “Merger”). The purchase price in the transaction was based upon the tangible book values of each of the Company and Savoy as of April 30, 2021, and calculated in accordance with the terms of the Merger Agreement. At the effective time of the Merger (the “Effective Time”), each share of Savoy common stock, $1.00 par value (“Savoy Common Stock”) was converted into the right to receive (i) $3.246 in cash and (ii) 0.141 shares of the Company’s common stock. The final aggregate purchase price was $65.5 million, or $6.49 per Savoy share. The Company issued a total of 1,357,567 shares of its common stock as part of the merger consideration. The acquisition was accounted for under the acquisition method of accounting in accordance with FASB ASC 805, “Business Combinations.” Accordingly, the assets acquired and liabilities assumed were recorded at their respective acquisition date fair values. The following summarizes the consideration paid and the initial fair value of the assets acquired and liabilities assumed: (In thousands) As recorded by Savoy Fair value adjustments Estimated Fair Value at May 26, 2021 Assets acquired: Cash and due from banks 59,155 - $ 59,155 Securities available-for-sale 239 - 239 Loans held for sale 3,883 - 3,883 Loans held for investment 569,251 8,612 (a) 577,863 Premises and equipment, net 234 (22) (b) 212 Core deposit intangible - 490 (c) 490 Accrued interest receivable 5,171 (650) (d) 4,521 Restricted securities, at cost 760 - 760 Other assets 9,672 (1,858) (e) 7,814 Total assets acquired $ 648,365 $ 6,572 $ 654,937 Liabilities assumed: Deposits 340,215 2,527 (f) 342,742 Borrowings 258,247 301 (g) 258,548 Accrued interest payable 1,050 - 1,050 Other liabilities and accrued expenses 3,817 (342) (h) 3,475 Total liabilities assumed $ 603,329 $ 2,486 $ 605,815 Net assets acquired 49,122 Cash paid in acquisition 32,991 Equity effect of Savoy transaction 32,521 Goodwill recorded on acquisition $ 16,390 Explanation of certain fair value related adjustments: (a) Represents the fair value adjustments on net book value of loans, which includes an interest rate mark and credit mark adjustment, the write-off of deferred fees/costs and premiums and the elimination of Savoy’s allowance for loan losses. (b) Represents the fair value adjustments to reflect the fair value of premises and equipment. (c) Represents the fair value of core deposit intangible recorded, which will be amortized on an accelerated basis over the estimated average life of the deposit base. (d) Represents an adjustment to accrued interest receivable acquired. (e) Represents an adjustments to other assets acquired. The largest adjustment was the net deferred tax assets resulting from the fair value adjustment related to the acquired assets, liabilities assumed and identifiable intangible assets recorded. (f) Represents the fair value adjustments on time deposits, which will be treated as a reduction of interest expense over the remaining term of the time deposits. (g) Represents the fair value adjustments on an FHLB borrowing, which will be treated as a reduction to interest expense over the life of the borrowing. (h) Represents an adjustment to other liabilities assumed. The above fair values and accruals for acquisition costs are the initial amounts and are subject to adjustment as fair value assessments and estimated acquisition costs are finalized. In accordance with FASB ASC 805-10 (Subtopic 25-15), the Company has up to one year from date of acquisition to complete this assessment. As a result of the acquisition, we recorded $16.4 million of goodwill. The goodwill recorded is not deductible for income tax purposes. Goodwill related to Savoy is not amortized for book purposes. However, it is reviewed at least annually for impairment. The fair value of loans acquired from Savoy were estimated using cash flow projections based on contractual and repricing terms. Cash flows were adjusted by estimating future credit losses and the rate of prepayments. The present value of projected monthly cash flows were obtained by using a risk-adjusted discount rate. The following is a summary of the loans accounted for in accordance with ASC 310-30 that were acquired in the Savoy acquisition as of the merger date: Estimated Fair Value at May 26, 2021 (in thousands) Contractually required principal and interest acquisition $ 14,416 Contractual cash flows not expected to be collected (non-accretable discount) (3,467 ) Expected cash flows at acquisition 10,949 Interest component of expected cash flows (accretable discount) (540 ) Fair value of acquired loans $ 10,409 The following table presents supplemental unaudited pro forma financial information as if the acquisition had occurred at the beginning of the Company’s fiscal 2020. The unaudited pro forma adjustments give effect to any change in interest income due to the accretion of discounts (premiums) associated with the fair value adjustments of acquired loans, any change in interest expense due to estimated premium amortization/discount accretion associated with the fair value adjustments to acquired time deposits and other debt, and the amortization of the core deposit intangible that would have resulted had the deposits been acquired on the assumed dates. Additionally, the unaudited pro forma information does not reflect anticipated cost savings that have not yet been realized: Pro Forma for the Three Months Ended June 30, Pro Forma for the Nine Months Ended June 30, 2021 2021 2020 (in thousands, except per share data) Net interest income $ 13,847 $ 40,729 $ 35,788 Non interest income $ 5,101 $ 9,082 $ 3,973 Non interest expense $ 13,684 $ 30,634 $ 23,755 Net income $ 3,634 $ 13,250 $ 8,904 Basic earnings per share $ 0.65 $ 2.38 $ 1.61 Diluted earnings per share $ 0.64 $ 2.35 $ 1.60 In August 2019, Chinatown Federal Savings Bank was acquired by the Company and merged into the Bank. During the first calendar quarter of 2021, previously reported goodwill resulting from the acquisition of Chinatown Federal Savings Bank was reduced by $191 thousand. The reduction was an adjustment related to the net deferred tax asset.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	9 Months Ended
	Jun. 30, 2021
EARNINGS PER COMMON SHARE [Abstract]
EARNINGS PER COMMON SHARE	3. EARNINGS PER COMMON SHARE Basic earnings per common share is computed based on the weighted-average number of shares outstanding. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock options. For periods in which a loss is reported, the impact of stock options is not considered as the result would be antidilutive. The computation of earnings per common share for the three and nine months ended June 30, 2021 and 2020 follows (in thousands, except share and per share data). There were no stock options that were antidilutive for the three and nine months ended June 30, 2021 and 2020. Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Basic earnings per common share Net income $ 221 $ 1,409 $ 3,795 $ 3,428 Weighted average common shares outstanding 4,731,949 4,166,961 4,368,809 4,159,531 Basic earnings per common share $ 0.05 $ 0.34 $ 0.87 $ 0.82 Diluted earnings per common share Net income $ 221 $ 1,409 $ 3,795 $ 3,428 Weighted average common shares outstanding for basic earnings per common share 4,731,949 4,166,961 4,368,809 4,159,531 Add: dilutive effects of assumed exercises of stock options 84,311 64,176 84,129 64,313 Average shares and dilutive potential common shares 4,816,260 4,231,137 4,452,938 4,223,844 Diluted earnings per common share $ 0.05 $ 0.33 $ 0.85 $ 0.81

SECURITIES

SECURITIES	9 Months Ended
	Jun. 30, 2021
SECURITIES [Abstract]
SECURITIES	4. SECURITIES At the time of purchase of a security, the Company designates the security as either available for sale or held to maturity, depending upon investment objectives, liquidity needs and intent. The amortized cost, fair value and gross unrealized gains and losses of the Company’s investment securities available for sale and held to maturity at June 30, 2021 and September 30, 2020 were as follows (in thousands): June 30, 2021 September 30, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: U.S. GSE residential mortgage-backed securities $ 753 $ 91 $ - $ 844 $ 838 $ 124 $ - $ 962 Corporate bonds 6,700 233 - 6,933 5,000 73 - 5,073 Total available for sale securities 7,453 324 - 7,777 5,838 197 - 6,035 Held to maturity: U.S. GSE residential mortgage-backed securities 2,779 67 - 2,846 4,478 118 - 4,596 U.S. GSE commercial mortgage-backed securities 2,708 194 - 2,902 2,749 253 - 3,002 Corporate bonds 3,500 19 (4 ) 3,515 3,500 33 - 3,533 Total held to maturity securities 8,987 280 (4 ) 9,263 10,727 404 - 11,131 Total investment securities $ 16,440 $ 604 $ (4 ) $ 17,040 $ 16,565 $ 601 $ - $ 17,166 All of the Company's securities with gross unrealized losses at June 30, 2021 had been in a continuous loss position for less than twelve months and such unrealized losses totaling $4 thousand are immaterial to the Company’s consolidated financial statements. There were no securities with unrealized losses at September 30, 2020. At June 30, 2021 and September 30, 2020, investment securities carried at $2.4 million and $5.6 million, respectively, were pledged to secure public deposits. The amortized cost and fair value of the Company’s securities portfolio at June 30, 2021 (in thousands) are presented by contractual maturity in the table below. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. June 30, 2021 Amortized Cost Fair Value Securities available for sale: Five to ten years $ 6,700 $ 6,933 U.S. GSE residential mortgage-backed securities 753 844 Total securities available for sale 7,453 7,777 Securities held to maturity: One to five years 1,500 1,496 Five to ten years 2,000 2,019 U.S. GSE residential mortgage-backed securities 2,779 2,846 U.S. GSE commercial mortgage-backed securities 2,708 2,902 Total securities held to maturity 8,987 9,263 Total investment securities $ 16,440 $ 17,040 For the nine months ended June 30, 2021, proceeds from sales of securities available for sale totaled $3.2 million, with an associated recognized gross gain of $240 thousand. There were no sales of securities for the three months ended June 30, 2021, or for the three and nine months ended June 30, 2020.

LOANS

LOANS	9 Months Ended
	Jun. 30, 2021
LOANS [Abstract]
LOANS	5. LOANS The following table sets forth the classification of the Company’s loans by loan portfolio segment for the periods presented (in thousands). June 30, 2021 September 30, 2020 Residential real estate $ 453,108 $ 454,073 Multi-family 227,545 136,539 Commercial real estate 331,040 113,615 Commercial and industrial 271,038 21,100 Construction 10,517 - Consumer 14 24 Gross loans 1,293,262 725,351 Net deferred fees - (332 ) Total loans 1,293,262 725,019 Allowance for loan losses (7,852 ) (7,869 ) Total loans, net $ 1,285,410 $ 717,150 The Company is a participant in the Paycheck Protection Program (“PPP”), administered by the Small Business Administration under the CARES Act, to provide guaranteed loans to qualifying businesses and organizations. These loans carry a fixed rate of 1.00% and a term of two years (loans made before June 5, 2020) or five years (loans made on or after June 5, 2020), if not forgiven, in whole or in part. As of June 30, 2021, 852 of the Company’s PPP loans totaling $124.8 million had received forgiveness. The Company’s PPP loans outstanding, included in commercial and industrial loans in the table above, totaled $240.3 million and $17.6 million at June 30, 2021 and September 30, 2020, respectively. At June 30, 2021 and September 30, 2020, the Company was servicing approximately $230.1 million and $26.8 million, respectively, of loans for others. The Company had approximately $3.9 million in loans held for sale at June 30, 2021 and no loans held for sale at September 30, 2020. For the three months ended June 30, 2021 and 2020, the Company sold loans totaling approximately $13.5 million and $1.7 million, respectively, recognizing net gains of $212 thousand and $15 thousand, respectively. For the nine months ended June 30, 2021 and 2020, the Company sold loans totaling approximately $32.0 million and $32.6 million, respectively, recognizing net gains of $688 thousand and $917 thousand, respectively. The following summarizes the activity in the allowance for loan losses by portfolio segment for the periods indicated (in thousands). Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Balance at beginning of period Charge-offs Recoveries (Credit) provision for loan losses Balance at end of period Balance at beginning of period Charge-offs Recoveries Provision (credit) for loan losses Balance at end of period Residential real estate $ 4,851 $ (267 ) $ - $ (209 ) $ 4,375 $ 5,261 $ - $ - $ 9 $ 5,270 Multi-family 1,955 (32 ) - (23 ) 1,900 1,440 - - (35 ) 1,405 Commercial real estate 1,310 (29 ) - 228 1,509 1,061 - - 168 1,229 Commercial and industrial 62 - 1 4 67 79 - - 8 87 Consumer 1 - - - 1 2 - - - 2 Total $ 8,179 $ (328 ) $ 1 $ - $ 7,852 $ 7,843 $ - $ - $ 150 $ 7,993 Nine Months Ended June 30, 2021 Nine Months Ended June 30, 2020 Balance at beginning of period Charge-offs Recoveries (Credit) provision for loan losses Balance at end of period Balance at beginning of period Charge-offs Recoveries Provision (credit) for loan losses Balance at end of period Residential real estate $ 5,103 $ (267 ) $ - $ (461 ) $ 4,375 $ 4,647 $ - $ - $ 623 $ 5,270 Multi-family 1,506 (32 ) - 426 1,900 1,215 - - 190 1,405 Commercial real estate 1,221 (29 ) - 317 1,509 1,193 - - 36 1,229 Commercial and industrial 38 - 11 18 67 75 (300 ) - 312 87 Consumer 1 - - - 1 13 - - (11 ) 2 Total $ 7,869 $ (328 ) $ 11 $ 300 $ 7,852 $ 7,143 $ (300 ) $ - $ 1,150 $ 7,993 The following presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment methodology for the periods indicated (in thousands). The recorded investment in loans excludes accrued interest receivable due to immateriality. Allowance for Loan Losses Loan Balances June 30 2021 Individually evaluated for impairment Collectively evaluated for impairment Ending balance Individually evaluated for impairment Purchased credit impaired loans (1) Collectively evaluated for impairment Ending balance Residential real estate $ - $ 4,375 $ 4,375 $ 7,154 $ - $ 445,965 $ 453,119 Multi-family - 1,900 1,900 451 - 227,436 227,887 Commercial real estate - 1,509 1,509 550 9,027 321,665 331,242 Commercial and industrial - 67 67 544 2,082 267,855 270,481 Construction - - - - - 10,517 10,517 Consumer - 1 1 - - 16 16 Total $ - $ 7,852 $ 7,852 $ 8,699 $ 11,109 $ 1,273,454 $ 1,293,262 (1) No allowance was recorded on purchased credit impaired loans. Allowance for Loan Losses Loan Balances September 30, 2020 Individually evaluated for impairment Collectively evaluated for impairment Ending balance Individually evaluated for impairment Collectively evaluated for impairment Ending balance Residential real estate $ - $ 5,103 $ 5,103 $ 2,221 $ 451,539 $ 453,760 Multi-family - 1,506 1,506 47 136,690 136,737 Commercial real estate - 1,221 1,221 629 113,129 113,758 Commercial and industrial - 38 38 334 20,404 20,738 Consumer - 1 1 - 26 26 Total $ - $ 7,869 $ 7,869 $ 3,231 $ 721,788 $ 725,019 The following presents information related to the Company’s impaired loans by portfolio segment for the periods shown (in thousands). June 30, 2021 September 30, 2020 Unpaid Principal Balance Recorded Investment Allowance Allocated Unpaid Principal Balance Recorded Investment Allowance Allocated With no related allowance recorded: Residential real estate $ 7,292 $ 7,154 $ - $ 2,221 $ 2,221 $ - Multi-family 381 451 - 47 47 - Commercial real estate 531 550 - 629 629 - Commercial and industrial 544 544 - 634 334 - Total $ 8,748 $ 8,699 $ - $ 3,531 $ 3,231 $ - Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Average recorded investment Interest income recognized (1) Average recorded investment Interest income recognized (1) Average recorded investment Interest income recognized (1) Average recorded investment Interest income recognized (1) Residential real estate $ 5,937 $ 35 $ 2,234 $ 21 $ 4,890 $ 76 $ 2,062 $ 63 Multi-family 171 3 61 4 85 7 71 12 Commercial real estate 193 1 340 6 81 2 350 18 Commercial and industrial 181 - 334 - 60 - 500 - Total $ 6,482 $ 39 $ 2,969 $ 31 $ 5,116 $ 85 $ 2,983 $ 93 (1) Accrual basis interest income recognized approximates cash basis income. At June 30, 2021 and September 30, 2020, past due and non-accrual loans disaggregated by portfolio segment were as follows (dollars in thousands): Past Due and Non-Accrual June 30 2021 30 - 59 days past due and accruing 60 - 89 days past due and accruing 90 days and over past due and accruing Non-accrual Total past due and non-accrual Current Total ( 5) Residential real estate $ 757 $ - $ - $ 5,498 (1) $ 6,255 $ 446,864 $ 453,119 Multi-family - - - 451 (2) 451 227,436 227,887 Commercial real estate 707 - - 549 (3) 1,256 320,959 322,215 Commercial and industrial - - - 545 (4) 545 267,854 268,399 Construction - - - - - 10,517 10,517 Consumer - - - - - 16 16 Total $ 1,464 $ - $ - $ 7,043 $ 8,507 $ 1,273,646 $ 1,282,153 (1) Of the residential real estate non-accrual loans at June 30, 2021, $2,891 were not past due and $2,607 were 90 days or more past due. (2) Multi-family non-accrual loans at June 30, 2021 were 90 days or more past due. (3) Commercial real estate non-accrual loans at June 30, 2021 were 90 days or more past due. (4) Commercial and industrial non-accrual loans at June 30, 2021 were 90 days or more past due. (5) Excludes purchased credit impaired loans totaling $11,109. Past Due and Non-Accrual September 30, 2020 30 - 59 days past due and accruing 60 - 89 days past due and accruing 90 days and over past due and accruing Non-accrual (1) Total past due and non-accrual Current Total Residential real estate $ 4,507 $ - $ - $ 538 $ 5,045 $ 448,715 $ 453,760 Multi-family - - - 47 47 136,690 136,737 Commercial real estate - - 296 34 330 113,428 113,758 Commercial and industrial - - - 334 334 20,404 20,738 Consumer - - - - - 26 26 Total $ 4,507 $ - $ 296 $ 953 $ 5,756 $ 719,263 $ 725,019 (1) Non-accrual loans at September 30, 2020 were 90 days or more past due. Troubled debt restructurings (“TDRs”) are loan modifications where the Company has granted a concession to a borrower in financial difficulty. To assess whether a borrower is experiencing financial difficulty, an evaluation is performed to determine if that borrower is currently in payment default under any of its obligations or whether there is a probability that the borrower will be in payment default in the foreseeable future without the modification. At both June 30, 2021 and September 30, 2020, the Company had a recorded investment in TDRs totaling $1.7 million, consisting solely of residential real estate loans with no specific reserves allocated to such loans and no commitment to lend additional funds under those loans, at either June 30, 2021 or September 30, 2020. For the three and nine months ended June 30, 2021 and 2020, there were no TDRs for which there was a payment default within twelve months of restructuring. A loan is considered to be in payment default once it is 90 days contractually past due under its modified terms. For the three and nine months ended June 30, 2021 and 2020, the Company had no new TDRs. In June 2020, New York’s Governor Andrew Cuomo signed SB 8243C and SB 8428, which created Section 9-x of the New York Banking Law. The new Section 9-x requires New York regulated banking institutions and New York regulated mortgage servicers to make available applications for forbearance of any payment due on certain residential mortgages to qualified borrowers for their primary residence located in New York. In general, qualified borrowers will be granted forbearance of all monthly payments for a period of up to 180 days, to be extended for up to an additional 180 days provided that the borrower demonstrates continued financial hardship. The Company has been prudently working with borrowers negatively impacted by the COVID-19 pandemic while managing credit risks and recognizing an appropriate allowance for loan losses. The Company modified 519 loans totaling $367.1 million under the CARES Act which are excluded from TDR classification under Section 4013 of the CARES Act or under applicable interagency guidance of the federal banking regulators. As of June 30, 2021, 34 loans totaling $34.0 million were still in forbearance, of which 14 loans totaling $7.7 million were loans qualified under Section 9-x. The Company continuously monitors the credit quality of its loans by reviewing certain credit quality indicators, most notably credit risk ratings by loan segment. The Company utilizes a credit risk rating system as part of the risk assessment of its loan portfolio. The Company’s lending officers assign credit risk ratings to loans at time of origination. Should a lending officer learn of any financial developments subsequent to a loan’s origination, the loan’s risk rating is reviewed and adjusted if necessary. In addition, the Company engages a third-party independent loan reviewer that performs semi-annual reviews of a sample of the Company’s loans, validating the credit risk ratings assigned to those loans. Credit risk ratings play an important role in the determination of the Company’s loan loss provision and the adequacy of its allowance for loan losses. The Company’s credit risk rating system makes use of certain information relevant to the ability of the borrower to service their debt, including current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. The Company’s credit risk ratings are as follows: Special Mention Substandard - Loans inadequately protected by current sound worth and paying capacity of the obligor or collateral pledged, if any. Loans classified as Substandard have a well-defined weakness or weaknesses that jeopardizes the liquidation of the debt. There exists a distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful - Loans with weaknesses inherent in those classified substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing factors, conditions and values, highly questionable and improbable. Loans not having a credit risk rating of Special Mention, Substandard or Doubtful are considered pass loans. At June 30, 2021 and September 30, 2020, the Company’s loan portfolio by credit risk rating disaggregated by portfolio segment were as follows (dollars in thousands): June 30, 2021 September 30, 2020 Grade Grade Pass Special mention Substandard (1) Total Pass Special mention Substandard Total Residential real estate $ 442,114 $ 5,507 $ 5,498 $ 453,119 $ 449,524 $ 2,893 $ 1,343 $ 453,760 Multi-family 223,454 3,982 451 227,887 135,396 1,294 47 136,737 Commercial real estate 297,491 19,051 14,700 331,242 111,457 893 1,408 113,758 Commercial and industrial 266,971 884 2,626 270,481 20,404 - 334 20,738 Construction 10,517 - - 10,517 - - - - Consumer 16 - - 16 26 - - 26 Total $ 1,240,563 $ 29,424 $ 23,275 $ 1,293,262 $ 716,807 $ 5,080 $ 3,132 $ 725,019 (1) Includes purchased credit impaired loans totaling $11,109.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Jun. 30, 2021
STOCK-BASED COMPENSATION [Abstract]
STOCK-BASED COMPENSATION	6. STOCK-BASED COMPENSATION The Company’s 2018 Equity Compensation Plan (“the 2018 Plan”) provides for the grant of stock-based compensation awards to officers, employees and directors of the Company. Under the 2018 Plan, a total of 346,000 shares of the Company’s common stock were approved for issuance, of which 207,681 shares remained for possible issuance at June 30, 2021. Hanover assumed the 2013 Savoy Bank Stock Option Plan solely in connection with options to purchase Savoy common stock held by the former Chief Executive Officer of Savoy and which, under the terms of the Agreement and Plan of Merger between the Company and Savoy, were converted into options to purchase 71,900 shares of Hanover common stock. Stock Options Stock options are granted with an exercise price equal to the fair market value of the Company’s common stock at the date of grant, and generally with vesting periods of three years and contractual term The fair value of stock options is estimated on the date of grant using a closed form option valuation (Black-Scholes) model. Expected volatilities are based on historical volatilities of the common stock of the Company's peers No stock options were exercised during the nine months ended June 30, 2021. The total intrinsic value of options exercised for the nine months ended June 30, 2020 was $127 thousand. The total cash received from option exercises for the nine months ended June 30, 2020 was $107 thousand. The Company recognized tax benefits of $44 thousand resulting from option exercises for the nine months ended June 30, 2020. No such tax benefits were recognized for the three months ended June 30, 2020. A summary of stock option activity follows (aggregate intrinsic value in thousands): Number of Options Weighted- Average Exercise Price Per Share Aggregate Intrinsic Value Weighted- Average Remaining Contractual Term Outstanding, October 1, 2020 155,506 $ 11.35 $ 1,623 4.66 years Converted in Savoy acquisition 71,900 5.51 Exercised - - Forfeited - - Outstanding, June 30 2021 227,406 $ 9.50 $ 1,795 3.76 years (1) All outstanding options are fully vested and exercisable. In connection with the Savoy Bank acquisition, the Company assumed fully-vested legacy Savoy stock options held by the former Chief Executive Officer of Savoy which were converted into options to purchase 71,900 shares of Hanover common stock at a weighted average exercise price of $5.51 per share and fair value of $17.65 per share. There was no compensation expense attributable to stock options for the nine months ended June 30, 2021. For the three and nine months ended June 30, 2020, such compensation expense was $4 thousand and $14 thousand, respectively. Restricted Stock During the nine months ended June 30, 2021, restricted stock awards of 15,727 shares were granted with a three-year vesting period. Compensation expense is recognized over the vesting period of the awards based on the fair value of the stock at issue date. Since there is no active market for the Company’s stock, the fair value of the restricted stock awards was estimated on the date of grant based on the prices of the most recent transactions in the Company’s common stock. A summary of restricted stock activity follows: Number of Shares Weighted- Average Grant Date Fair Value Unvested, October 1, 2020 95,052 $ 19.56 Granted 15,727 21.93 Vested (44,946 ) 19.09 Forfeited (667 ) 21.79 Unvested, June 30 2021 65,166 $ 20.43 Compensation expense attributable to restricted stock was $224 thousand and $210 thousand for the three months ended June 30, 2021 and 2020, respectively. For the nine months ended June 30, 2021 and 2020, compensation expense attributable to restricted stock was $669 thousand and $533 thousand, respectively. As of June 30, 2021, there was $1.1 million of total unrealized compensation cost related to unvested restricted stock, expected to be recognized over a weighted-average term of 1.53 years. The total fair value of shares vested during the nine months ended June 30, 2021 and 2020 was $868 thousand and $835 thousand, respectively.

REGULATORY MATTERS

REGULATORY MATTERS	9 Months Ended
	Jun. 30, 2021
REGULATORY MATTERS [Abstract]
REGULATORY MATTERS	7. REGULATORY MATTERS The Bank is subject to various regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet minimum capital requirements can initiate regulatory action. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. In addition, to avoid limitations on distributions, including dividend payments, the Bank must hold a capital conservation buffer above its minimum risk-based capital requirements. The capital conservation buffer is equal to the lowest of the results calculated in items (1), (2), and (3) as follows: (1) the Bank’s common equity tier 1 capital to risk-weighted assets ratio, less 4.50%, which is the minimum common equity tier 1 capital ratio regulatory requirement; (2) the Bank’s tier 1 capital to risk-weighted assets ratio, less 6.00%, which is the minimum tier 1 capital ratio regulatory requirement; and (3) the Bank’s total capital to risk-weighted assets ratio, less 8.00%, which is the minimum total capital ratio regulatory requirement. However, if any of the three calculated results is less than zero (i.e., is negative), the capital conservation buffer would be zero. Each of the Bank’s capital ratios exceeds applicable regulatory capital requirements and the Bank meets the requisite capital ratios to be well capitalized as of June 30, 2021 and September 30, 2020. At June 30, 2021 and September 30, 2020, the Bank’s capital conservation buffers were in excess of the minimum buffer requirement described above. There are no subsequent conditions or events that management believes have changed the Bank’s capital adequacy. The Bank’s capital amounts (in thousands) and ratios are presented in the table that follows. Actual Required for capital adequacy purposes Excess of amount required for capital adequacy purposes (1) To be Well Capitalized under prompt corrective action regulations Amount Ratio Amount Ratio Amount Ratio Amount Ratio June 30 2021 Total capital to risk-weighted assets $ 126,624 15.01 % $ 67,535 8.00 % $ 59,089 7.00 % $ 84,419 10.00 % Tier 1 capital to risk-weighted assets 118,536 14.05 % 50,651 6.00 % 67,885 8.04 % 67,535 8.00 % Common equity tier 1 capital to risk-weighted assets 118,536 14.05 % 37,988 4.50 % 80,548 9.54 % 54,872 6.50 % Tier 1 capital to adjusted average assets (leverage) 118,536 11.20 % 42,351 4.00 % N/A N/A 52,938 5.00 % September 30, 2020 Total capital to risk-weighted assets $ 95,079 20.57 % $ 36,970 8.00 % $ 58,109 12.57 % $ 46,212 10.00 % Tier 1 capital to risk-weighted assets 89,275 19.32 % 27,727 6.00 % 61,548 13.32 % 36,970 8.00 % Common equity tier 1 capital to risk-weighted assets 89,275 19.32 % 20,796 4.50 % 68,479 14.82 % 30,038 6.50 % Tier 1 capital to adjusted average assets (leverage) 89,275 11.22 % 31,820 4.00 % N/A N/A 39,775 5.00 % (1) The capital conservation buffer is the minimum of the excess amounts shown, that is 7.00% and 12.57% at June 30, 2021 and September 30, 2020, respectively. The ability of the Bank to pay dividends to the Company is subject to certain regulatory restrictions. Prior regulatory approval is required if the total of all dividends declared by the Bank in any calendar year exceeds the total of the Bank’s net profits of that year combined with its retained net profits of the preceding two years. In addition, as discussed above, the Bank’s ability to pay dividends to the Company may be limited if the Bank fails to satisfy any applicable capital conservation buffer. As of June 30, 2021, $16.6 million was available to pay dividends without obtaining prior regulatory approval.

FAIR VALUE

FAIR VALUE	9 Months Ended
	Jun. 30, 2021
FAIR VALUE [Abstract]
FAIR VALUE	8. FAIR VALUE Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on- and off-balance-sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. In addition, the tax effects related to the realization of unrealized gains and losses could have a significant impact on fair value estimates and have not been considered. The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value. Cash and cash equivalents - Cash and cash equivalents, which includes cash and due from banks, interest-bearing deposits at other banks and federal funds sold are short-term in nature with original maturities of three months or less; the carrying amount approximates fair value. Securities held to maturity and securities available for sale - The fair values for securities were obtained from an independent broker based upon market prices quoted on nationally recognized securities exchanges or matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific security but rather on the security’s relationship to other benchmark quoted securities. Loans held for sale - Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors. Loans held for investment – The fair values for performing loans held for investment were obtained from an independent third party based upon an exit price which considered various factors, such as the interest rate of the loan relative to current market rates, the strength of the credit, the underwriting methodology and loan documentation and the ability to liquidate. Generally, for loans identified as impaired, the fair value of the collateral is used to determine the fair value of the loan. The fair value of the collateral is determined based on recent appraised values. Appraisals for collateral-dependent impaired loans are performed by certified general appraisers whose qualifications and licenses have been reviewed and verified by the Company. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Adjustments may relate to location, square footage, condition, amenities, market rate of leases and timing of comparable sales. All appraisals undergo a second review process to ensure that the methodology and the values derived are reasonable. The fair value of the loan is compared to the carrying value to determine if any write-down or specific reserve is required. Impaired loans are evaluated quarterly for additional impairment and adjusted accordingly. Adjustments to fair value are made only when the analysis indicates a probable decline in collateral values. Mortgage servicing rights Accrued interest receivable and payable - Carrying amount is a reasonable estimate of fair value. Deposits - The fair value of time deposits is based on the market average at the term nearest the weighted average remaining maturity. For demand and other deposits, the carrying amount is a reasonable estimate of fair value. Borrowings – Fair values are derived from discounted contractual cash flows using the weighted average remaining maturity. Commitments to extend credit and letters of credit - The fair value of commitments is estimated using the fees currently charged to enter into similar agreements, considering the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of commitments is immaterial to the financial statements. The following presents fair value measurements on a recurring basis at June 30, 2021 and September 30, 2020 (in thousands): Fair Value Measurements Using Assets: June 30, 2021 Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Securities available for sale: U.S. GSE residential mortgage-backed securities $ 844 $ 844 $ - Corporate bonds 6,933 6,933 - Mortgage servicing rights 3,815 - 3,815 Total $ 11,592 $ 7,777 $ 3,815 Fair Value Measurements Using Assets: September 30, 2020 Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Securities available for sale: U.S. GSE residential mortgage-backed securities $ 962 $ 962 $ - Corporate bonds 5,073 5,073 - Mortgage servicing rights 155 - 155 Total $ 6,190 $ 6,035 $ 155 Reconciliations for mortgage servicing rights measured at fair value on a recurring basis using significant unobservable inputs (Level 3) follow (in thousands). Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Beginning balance $ 130 $ 199 $ 155 $ 266 Savoy acquisition 3,776 - 3,776 - Adjustment to fair value (91 ) (26 ) (116 ) (93 ) Ending balance $ 3,815 $ 173 $ 3,815 $ 173 The significant inputs utilized in the cash flow The Company had no financial instruments measured at fair value on a non-recurring basis at June 30, 2021 and September 30, 2020. The Company’s impaired loans had no related specific allowances recorded at June 30, 2021 and September 30, 2020. The following presents the carrying amounts and estimated fair values of the Company’s financial instruments not carried at fair value at June 30, 2021 and September 30, 2020 (in thousands). Fair Value Measurements Using June 30 2021 Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Financial Assets: Cash and cash equivalents $ 172,534 $ 172,534 $ - $ - $ 172,534 Securities held to maturity 8,987 - 9,263 - 9,263 Loans, net 1,285,410 - - 1,325,596 1,325,596 Accrued interest receivable 10,920 - 153 10,767 10,920 Financial Liabilities: Time deposits 460,689 - 461,641 - 461,641 Demand and other deposits 698,733 698,733 - - 698,733 Borrowings 228,625 - 228,650 - 228,650 Subordinated debentures 24,498 - 27,296 - 27,296 Accrued interest payable 1,156 2 1,154 - 1,156 Fair Value Measurements Using September 30, 2020 Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Financial Assets: Cash and cash equivalents $ 80,209 $ 80,209 $ - $ - $ 80,209 Securities held to maturity 10,727 - 11,131 - 11,131 Loans, net 717,150 - - 746,969 746,969 Accrued interest receivable 6,766 - 218 6,548 6,766 Financial Liabilities: Time deposits 394,753 - 397,842 - 397,842 Demand and other deposits 270,007 270,007 - - 270,007 Borrowings 85,154 - 87,052 - 87,052 Note payable 14,984 - - 15,329 15,329 Accrued interest payable 374 1 339 34 374

LOSS CONTINGENCIES

LOSS CONTINGENCIES	9 Months Ended
	Jun. 30, 2021
LOSS CONTINGENCIES [Abstract]
LOSS CONTINGENCIES	9. LOSS CONTINGENCIES Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of a loss is probable and an amount or range of loss can be reasonably estimated. The Company’s management does not believe there now are such matters that will have a material effect on the financial statements.

BORROWINGS

BORROWINGS	9 Months Ended
	Jun. 30, 2021
Borrowings [Abstract]
Borrowings	10. BORROWINGS Federal Home Loan Bank (“FHLB”) Advances At June 30, 2021 and September 30, 2020, FHLB advances outstanding were $51.5 million and $69.0 million, respectively. The advances were all at fixed rates ranging from 0.37% to 2.96% and from 0.37% to 2.98%, respectively, and with maturities ranging from July 2021 2025 2020 2025 Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. The advances were collateralized by $398.0 million and $143.7 million of residential and commercial mortgage loans under a blanket lien arrangement at June 30, 2021 and September 30, 2020, respectively. Based on this collateral and the Company’s holdings of FHLB stock, the Company was eligible to borrow up to an additional total of $91.2 million at June 30, 2021. The following presents the Company’s outstanding FHLB advances contractual maturities in the fiscal years shown (dollars in thousands): At June 30,2021 Maturity Amount Weighted Average Rate 2021 $ 9,714 1.46 % 2022 4,000 2.02 % 2023 11,800 2.23 % 2024 18,860 0.98 % 2025 7,080 0.58 % $ 51,454 1.38 % Federal Reserve Borrowings At June 30, 2021 and September 30, 2020, the Company’s borrowings from the Federal Reserve’s PPP Liquidity Facility (“PPPLF”) were $176.9 million and $16.2 million, respectively. The borrowings had a rate of 0.35% and a maturity date equal to the maturity date of the underlying PPP loan pledged to secure the extension of credit. The Company utilized the PPPLF to partially fund PPP loan production and the borrowings were fully secured by PPP loans.

SUBORDINATED DEBENTURES

SUBORDINATED DEBENTURES	9 Months Ended
	Jun. 30, 2021
Subordinated Debentures [Abstract]
Subordinated Debentures	11. SUBORDINATED DEBENTURES In October 2020, the Company completed the private placement of $25.0 million in aggregate principal amount of fixed-to-floating rate subordinated notes due 2030 The Company used a portion of the net proceeds to pay off the existing holding company note in October 2020 and intends to use the remainder of the net proceeds for acquisition financing and general corporate purposes, including contributing equity capital to the Bank. At June 30, 2021, the unamortized issuance costs of the Notes were $502 thousand. For the three and nine months ended June 30, 2021, $16 thousand and $43 thousand, respectively, in issuance costs were recorded in interest expense. The Notes are presented net of unamortized issuance costs in the Company’s Consolidated Statements of Financial Condition.

BASIS OF PRESENTATION, RISKS _2

BASIS OF PRESENTATION, RISKS AND UNCERTAINTIES, ACCOUNTING POLICIES AND RECENT ACCOUNTING DEVELOPMENTS (Policies)	9 Months Ended
	Jun. 30, 2021
BASIS OF PRESENTATION, RISKS AND UNCERTAINTIES, ACCOUNTING POLICIES AND RECENT ACCOUNTING DEVELOPMENTS [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of the Company’s management, the preceding unaudited interim consolidated financial statements contain all adjustments, consisting of normal accruals, necessary for a fair presentation of the Company’s consolidated statement of financial condition as of June 30, 2021, its consolidated statements of income for the three and nine months ended June 30, 2021 and 2020, its consolidated statements of comprehensive income for the three and nine months ended June 30, 2021 and 2020, its consolidated statements of changes in stockholders’ equity for the three and nine months ended June 30, 2021 and 2020 and its consolidated statements of cash flows for the nine months ended June 30, 2021 and 2020. In addition, the preceding unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X, as well as in accordance with predominant practices within the banking industry. They do not include all the information and footnotes required by U.S. GAAP for complete financial statements. The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from those estimates. The results of operations for the three and nine months ended June 30, 2021 are not necessarily indicative of the results of operations to be expected for the remainder of the year. All material intercompany accounts and transactions have been eliminated in consolidation. Unless the context otherwise requires, references herein to the Company include the Company and the Bank on a consolidated basis.
Risks and Uncertainties	Risks and Uncertainties In March 2020, the World Health Organization declared the outbreak of COVID-19 a global pandemic. The COVID-19 pandemic has adversely affected, local, national and global economic activity. Various actions taken to help mitigate the spread of COVID-19 included restrictions on travel, quarantines and government-mandated closures of various businesses. The outbreak caused significant disruptions to the economy and disrupted banking and other financial activity in the areas in which the Company operates. The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted in March 2020 to, among other things, provide emergency assistance to individuals, families and businesses affected by the COVID-19 pandemic. The effects of the COVID-19 pandemic may materially and adversely affect the Company’s financial condition and results of operations in future periods, and it is unknown what the complete financial impact will be to the Company. The extent of such impact will depend on future developments, which are highly uncertain and cannot be predicted, including new information which may emerge concerning the coronavirus, the new “waves” of COVID-19 infections and the distribution of vaccines and vaccination rates, among others. It is possible that estimates made in the financial statements could be materially and adversely impacted due to these conditions, including estimates regarding expected credit losses on loans receivable and impairment of goodwill.
Allowance for Loan Losses	Allowance for Loan Losses
Loans and Loan Interest Income Recognition	Loans and Loan Interest Income Recognition - Loans that the Company has the intent and ability to hold for the foreseeable future or until maturity or payoff, are reported at the principal balance outstanding, net of purchase premiums and discounts, deferred loan fees and costs and an allowance for loan losses. The loan portfolio is segmented into residential real estate, multi-family, commercial real estate, commercial and industrial loans, construction and consumer loans. Interest income on loans is accrued and credited to income as earned. Net loan origination fees and costs are deferred and accreted/amortized to interest income over the loan’s contractual life using the level-yield method, adjusted for actual prepayments. Loans that are acquired are initially recorded at fair value with no carryover of the related allowance for loan losses. After acquisition, losses are recognized through the allowance for loan losses. Determining the fair value of the loans involves estimating the amount and timing of expected principal and interest cash flows to be collected on the loans and discounting those cash flows at a market interest rate. At June 30, 2021, the Company had loans totaling $11.1 million, which, at the time of acquisition, showed evidence of credit deterioration since origination. Purchased credit impaired loans were not material at September 30, 2020.
Loans Held for Sale	Loans Held for Sale For liquidity purposes generally, there are instances when loans originated with the intent to hold in portfolio are subsequently transferred to loans held for sale. At transfer, they are carried at the lower of cost or fair value.
Recent Accounting Developments	Recent Accounting Developments Adoption of New Accounting Standards In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350), “Simplifying the Test for Goodwill Impairment.” The amendments in this ASU simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under the amendments in this ASU, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, not exceeding the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The ASU also eliminates the requirement for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. For non-public entities, ASU 2017-04 is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2021 with early adoption permitted. The amendments are to be applied on a prospective basis. An entity is required to disclose the nature of and reason for the change in accounting principle upon transition within the first annual period when the entity initially adopts the amendments. The Company adopted ASU 2017-04 on October 1, 2019 and determined that there was no impairment of goodwill under the new method. Recent Accounting Pronouncements - In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), “Measurement of Credit Losses on Financial Instruments,” which sets forth a current expected credit loss (“CECL”) model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. This replaces the incurred loss model and will apply to the measurement of credit losses on financial assets measured at amortized cost and to some off-balance sheet credit exposures. For the Company, an emerging growth company electing to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act, ASU 2016-13 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company has been gathering data and will be evaluating data and system requirements to implement this standard. The Company cannot yet determine the overall impact this standard will have on its consolidated financial statements upon adoption. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) which amended existing guidance that requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) A lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, the lessor accounting model and Topic 606, Revenue from Contracts with Customers. For the Company, an emerging growth company electing to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act, ASU 2016-02 is effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early application permitted. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. The Company is currently evaluating the adoption impact of ASU 2016-02 on the consolidated financial statements. Based on leases outstanding at June 30, 2021, the Company does not expect adoption to have a material impact on the income statement but does anticipate a material impact to the Company’s consolidated statement of financial condition as a result of recognizing right-of-use assets and lease liabilities.

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	9 Months Ended
	Jun. 30, 2021
BUSINESS COMBINATIONS [Abstract]
Consideration Paid and Initial Fair Value of the Assets Acquired and Liabilities Assumed	The following summarizes the consideration paid and the initial fair value of the assets acquired and liabilities assumed: (In thousands) As recorded by Savoy Fair value adjustments Estimated Fair Value at May 26, 2021 Assets acquired: Cash and due from banks 59,155 - $ 59,155 Securities available-for-sale 239 - 239 Loans held for sale 3,883 - 3,883 Loans held for investment 569,251 8,612 (a) 577,863 Premises and equipment, net 234 (22) (b) 212 Core deposit intangible - 490 (c) 490 Accrued interest receivable 5,171 (650) (d) 4,521 Restricted securities, at cost 760 - 760 Other assets 9,672 (1,858) (e) 7,814 Total assets acquired $ 648,365 $ 6,572 $ 654,937 Liabilities assumed: Deposits 340,215 2,527 (f) 342,742 Borrowings 258,247 301 (g) 258,548 Accrued interest payable 1,050 - 1,050 Other liabilities and accrued expenses 3,817 (342) (h) 3,475 Total liabilities assumed $ 603,329 $ 2,486 $ 605,815 Net assets acquired 49,122 Cash paid in acquisition 32,991 Equity effect of Savoy transaction 32,521 Goodwill recorded on acquisition $ 16,390 Explanation of certain fair value related adjustments: (a) Represents the fair value adjustments on net book value of loans, which includes an interest rate mark and credit mark adjustment, the write-off of deferred fees/costs and premiums and the elimination of Savoy’s allowance for loan losses. (b) Represents the fair value adjustments to reflect the fair value of premises and equipment. (c) Represents the fair value of core deposit intangible recorded, which will be amortized on an accelerated basis over the estimated average life of the deposit base. (d) Represents an adjustment to accrued interest receivable acquired. (e) Represents an adjustments to other assets acquired. The largest adjustment was the net deferred tax assets resulting from the fair value adjustment related to the acquired assets, liabilities assumed and identifiable intangible assets recorded. (f) Represents the fair value adjustments on time deposits, which will be treated as a reduction of interest expense over the remaining term of the time deposits. (g) Represents the fair value adjustments on an FHLB borrowing, which will be treated as a reduction to interest expense over the life of the borrowing. (h) Represents an adjustment to other liabilities assumed.
Loans Acquired in Savoy Acquisition	The fair value of loans acquired from Savoy were estimated using cash flow projections based on contractual and repricing terms. Cash flows were adjusted by estimating future credit losses and the rate of prepayments. The present value of projected monthly cash flows were obtained by using a risk-adjusted discount rate. The following is a summary of the loans accounted for in accordance with ASC 310-30 that were acquired in the Savoy acquisition as of the merger date: Estimated Fair Value at May 26, 2021 (in thousands) Contractually required principal and interest acquisition $ 14,416 Contractual cash flows not expected to be collected (non-accretable discount) (3,467 ) Expected cash flows at acquisition 10,949 Interest component of expected cash flows (accretable discount) (540 ) Fair value of acquired loans $ 10,409
Unaudited Pro Forma Information	The following table presents supplemental unaudited pro forma financial information as if the acquisition had occurred at the beginning of the Company’s fiscal 2020. The unaudited pro forma adjustments give effect to any change in interest income due to the accretion of discounts (premiums) associated with the fair value adjustments of acquired loans, any change in interest expense due to estimated premium amortization/discount accretion associated with the fair value adjustments to acquired time deposits and other debt, and the amortization of the core deposit intangible that would have resulted had the deposits been acquired on the assumed dates. Additionally, the unaudited pro forma information does not reflect anticipated cost savings that have not yet been realized: Pro Forma for the Three Months Ended June 30, Pro Forma for the Nine Months Ended June 30, 2021 2021 2020 (in thousands, except per share data) Net interest income $ 13,847 $ 40,729 $ 35,788 Non interest income $ 5,101 $ 9,082 $ 3,973 Non interest expense $ 13,684 $ 30,634 $ 23,755 Net income $ 3,634 $ 13,250 $ 8,904 Basic earnings per share $ 0.65 $ 2.38 $ 1.61 Diluted earnings per share $ 0.64 $ 2.35 $ 1.60

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	9 Months Ended
	Jun. 30, 2021
EARNINGS PER COMMON SHARE [Abstract]
Computation of Earnings Per Common Share	The computation of earnings per common share for the three and nine months ended June 30, 2021 and 2020 follows (in thousands, except share and per share data). There were no stock options that were antidilutive for the three and nine months ended June 30, 2021 and 2020. Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Basic earnings per common share Net income $ 221 $ 1,409 $ 3,795 $ 3,428 Weighted average common shares outstanding 4,731,949 4,166,961 4,368,809 4,159,531 Basic earnings per common share $ 0.05 $ 0.34 $ 0.87 $ 0.82 Diluted earnings per common share Net income $ 221 $ 1,409 $ 3,795 $ 3,428 Weighted average common shares outstanding for basic earnings per common share 4,731,949 4,166,961 4,368,809 4,159,531 Add: dilutive effects of assumed exercises of stock options 84,311 64,176 84,129 64,313 Average shares and dilutive potential common shares 4,816,260 4,231,137 4,452,938 4,223,844 Diluted earnings per common share $ 0.05 $ 0.33 $ 0.85 $ 0.81

SECURITIES (Tables)

SECURITIES (Tables)	9 Months Ended
	Jun. 30, 2021
SECURITIES [Abstract]
Investment Securities Available for Sale and Held to Maturity	The amortized cost, fair value and gross unrealized gains and losses of the Company’s investment securities available for sale and held to maturity at June 30, 2021 and September 30, 2020 were as follows (in thousands): June 30, 2021 September 30, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: U.S. GSE residential mortgage-backed securities $ 753 $ 91 $ - $ 844 $ 838 $ 124 $ - $ 962 Corporate bonds 6,700 233 - 6,933 5,000 73 - 5,073 Total available for sale securities 7,453 324 - 7,777 5,838 197 - 6,035 Held to maturity: U.S. GSE residential mortgage-backed securities 2,779 67 - 2,846 4,478 118 - 4,596 U.S. GSE commercial mortgage-backed securities 2,708 194 - 2,902 2,749 253 - 3,002 Corporate bonds 3,500 19 (4 ) 3,515 3,500 33 - 3,533 Total held to maturity securities 8,987 280 (4 ) 9,263 10,727 404 - 11,131 Total investment securities $ 16,440 $ 604 $ (4 ) $ 17,040 $ 16,565 $ 601 $ - $ 17,166
Securities Portfolio by Contractual Maturity	The amortized cost and fair value of the Company’s securities portfolio at June 30, 2021 (in thousands) are presented by contractual maturity in the table below. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. June 30, 2021 Amortized Cost Fair Value Securities available for sale: Five to ten years $ 6,700 $ 6,933 U.S. GSE residential mortgage-backed securities 753 844 Total securities available for sale 7,453 7,777 Securities held to maturity: One to five years 1,500 1,496 Five to ten years 2,000 2,019 U.S. GSE residential mortgage-backed securities 2,779 2,846 U.S. GSE commercial mortgage-backed securities 2,708 2,902 Total securities held to maturity 8,987 9,263 Total investment securities $ 16,440 $ 17,040

LOANS (Tables)

LOANS (Tables)	9 Months Ended
	Jun. 30, 2021
LOANS [Abstract]
Classification of Loans by Loan Portfolio Segment	The following table sets forth the classification of the Company’s loans by loan portfolio segment for the periods presented (in thousands). June 30, 2021 September 30, 2020 Residential real estate $ 453,108 $ 454,073 Multi-family 227,545 136,539 Commercial real estate 331,040 113,615 Commercial and industrial 271,038 21,100 Construction 10,517 - Consumer 14 24 Gross loans 1,293,262 725,351 Net deferred fees - (332 ) Total loans 1,293,262 725,019 Allowance for loan losses (7,852 ) (7,869 ) Total loans, net $ 1,285,410 $ 717,150
Activity in Allowance for Loan Losses by Portfolio Segment	The following summarizes the activity in the allowance for loan losses by portfolio segment for the periods indicated (in thousands). Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Balance at beginning of period Charge-offs Recoveries (Credit) provision for loan losses Balance at end of period Balance at beginning of period Charge-offs Recoveries Provision (credit) for loan losses Balance at end of period Residential real estate $ 4,851 $ (267 ) $ - $ (209 ) $ 4,375 $ 5,261 $ - $ - $ 9 $ 5,270 Multi-family 1,955 (32 ) - (23 ) 1,900 1,440 - - (35 ) 1,405 Commercial real estate 1,310 (29 ) - 228 1,509 1,061 - - 168 1,229 Commercial and industrial 62 - 1 4 67 79 - - 8 87 Consumer 1 - - - 1 2 - - - 2 Total $ 8,179 $ (328 ) $ 1 $ - $ 7,852 $ 7,843 $ - $ - $ 150 $ 7,993 Nine Months Ended June 30, 2021 Nine Months Ended June 30, 2020 Balance at beginning of period Charge-offs Recoveries (Credit) provision for loan losses Balance at end of period Balance at beginning of period Charge-offs Recoveries Provision (credit) for loan losses Balance at end of period Residential real estate $ 5,103 $ (267 ) $ - $ (461 ) $ 4,375 $ 4,647 $ - $ - $ 623 $ 5,270 Multi-family 1,506 (32 ) - 426 1,900 1,215 - - 190 1,405 Commercial real estate 1,221 (29 ) - 317 1,509 1,193 - - 36 1,229 Commercial and industrial 38 - 11 18 67 75 (300 ) - 312 87 Consumer 1 - - - 1 13 - - (11 ) 2 Total $ 7,869 $ (328 ) $ 11 $ 300 $ 7,852 $ 7,143 $ (300 ) $ - $ 1,150 $ 7,993
Allowance for Loan Losses and Recorded Investment by Portfolio Segment Based on Impairment Method	The following presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment methodology for the periods indicated (in thousands). The recorded investment in loans excludes accrued interest receivable due to immateriality. Allowance for Loan Losses Loan Balances June 30 2021 Individually evaluated for impairment Collectively evaluated for impairment Ending balance Individually evaluated for impairment Purchased credit impaired loans (1) Collectively evaluated for impairment Ending balance Residential real estate $ - $ 4,375 $ 4,375 $ 7,154 $ - $ 445,965 $ 453,119 Multi-family - 1,900 1,900 451 - 227,436 227,887 Commercial real estate - 1,509 1,509 550 9,027 321,665 331,242 Commercial and industrial - 67 67 544 2,082 267,855 270,481 Construction - - - - - 10,517 10,517 Consumer - 1 1 - - 16 16 Total $ - $ 7,852 $ 7,852 $ 8,699 $ 11,109 $ 1,273,454 $ 1,293,262 (1) No allowance was recorded on purchased credit impaired loans. Allowance for Loan Losses Loan Balances September 30, 2020 Individually evaluated for impairment Collectively evaluated for impairment Ending balance Individually evaluated for impairment Collectively evaluated for impairment Ending balance Residential real estate $ - $ 5,103 $ 5,103 $ 2,221 $ 451,539 $ 453,760 Multi-family - 1,506 1,506 47 136,690 136,737 Commercial real estate - 1,221 1,221 629 113,129 113,758 Commercial and industrial - 38 38 334 20,404 20,738 Consumer - 1 1 - 26 26 Total $ - $ 7,869 $ 7,869 $ 3,231 $ 721,788 $ 725,019
Impaired Loans by Portfolio Segment	The following presents information related to the Company’s impaired loans by portfolio segment for the periods shown (in thousands). June 30, 2021 September 30, 2020 Unpaid Principal Balance Recorded Investment Allowance Allocated Unpaid Principal Balance Recorded Investment Allowance Allocated With no related allowance recorded: Residential real estate $ 7,292 $ 7,154 $ - $ 2,221 $ 2,221 $ - Multi-family 381 451 - 47 47 - Commercial real estate 531 550 - 629 629 - Commercial and industrial 544 544 - 634 334 - Total $ 8,748 $ 8,699 $ - $ 3,531 $ 3,231 $ - Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Average recorded investment Interest income recognized (1) Average recorded investment Interest income recognized (1) Average recorded investment Interest income recognized (1) Average recorded investment Interest income recognized (1) Residential real estate $ 5,937 $ 35 $ 2,234 $ 21 $ 4,890 $ 76 $ 2,062 $ 63 Multi-family 171 3 61 4 85 7 71 12 Commercial real estate 193 1 340 6 81 2 350 18 Commercial and industrial 181 - 334 - 60 - 500 - Total $ 6,482 $ 39 $ 2,969 $ 31 $ 5,116 $ 85 $ 2,983 $ 93 (1) Accrual basis interest income recognized approximates cash basis income.
Past Due and Non-accrual Loans Disaggregated by Portfolio Segment	At June 30, 2021 and September 30, 2020, past due and non-accrual loans disaggregated by portfolio segment were as follows (dollars in thousands): Past Due and Non-Accrual June 30 2021 30 - 59 days past due and accruing 60 - 89 days past due and accruing 90 days and over past due and accruing Non-accrual Total past due and non-accrual Current Total ( 5) Residential real estate $ 757 $ - $ - $ 5,498 (1) $ 6,255 $ 446,864 $ 453,119 Multi-family - - - 451 (2) 451 227,436 227,887 Commercial real estate 707 - - 549 (3) 1,256 320,959 322,215 Commercial and industrial - - - 545 (4) 545 267,854 268,399 Construction - - - - - 10,517 10,517 Consumer - - - - - 16 16 Total $ 1,464 $ - $ - $ 7,043 $ 8,507 $ 1,273,646 $ 1,282,153 (1) Of the residential real estate non-accrual loans at June 30, 2021, $2,891 were not past due and $2,607 were 90 days or more past due. (2) Multi-family non-accrual loans at June 30, 2021 were 90 days or more past due. (3) Commercial real estate non-accrual loans at June 30, 2021 were 90 days or more past due. (4) Commercial and industrial non-accrual loans at June 30, 2021 were 90 days or more past due. (5) Excludes purchased credit impaired loans totaling $11,109. Past Due and Non-Accrual September 30, 2020 30 - 59 days past due and accruing 60 - 89 days past due and accruing 90 days and over past due and accruing Non-accrual (1) Total past due and non-accrual Current Total Residential real estate $ 4,507 $ - $ - $ 538 $ 5,045 $ 448,715 $ 453,760 Multi-family - - - 47 47 136,690 136,737 Commercial real estate - - 296 34 330 113,428 113,758 Commercial and industrial - - - 334 334 20,404 20,738 Consumer - - - - - 26 26 Total $ 4,507 $ - $ 296 $ 953 $ 5,756 $ 719,263 $ 725,019 (1) Non-accrual loans at September 30, 2020 were 90 days or more past due.
Loan Portfolio Based on Internal Rating Category	At June 30, 2021 and September 30, 2020, the Company’s loan portfolio by credit risk rating disaggregated by portfolio segment were as follows (dollars in thousands): June 30, 2021 September 30, 2020 Grade Grade Pass Special mention Substandard (1) Total Pass Special mention Substandard Total Residential real estate $ 442,114 $ 5,507 $ 5,498 $ 453,119 $ 449,524 $ 2,893 $ 1,343 $ 453,760 Multi-family 223,454 3,982 451 227,887 135,396 1,294 47 136,737 Commercial real estate 297,491 19,051 14,700 331,242 111,457 893 1,408 113,758 Commercial and industrial 266,971 884 2,626 270,481 20,404 - 334 20,738 Construction 10,517 - - 10,517 - - - - Consumer 16 - - 16 26 - - 26 Total $ 1,240,563 $ 29,424 $ 23,275 $ 1,293,262 $ 716,807 $ 5,080 $ 3,132 $ 725,019 (1) Includes purchased credit impaired loans totaling $11,109.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Jun. 30, 2021
STOCK-BASED COMPENSATION [Abstract]
Summary of Stock Option Activity	A summary of stock option activity follows (aggregate intrinsic value in thousands): Number of Options Weighted- Average Exercise Price Per Share Aggregate Intrinsic Value Weighted- Average Remaining Contractual Term Outstanding, October 1, 2020 155,506 $ 11.35 $ 1,623 4.66 years Converted in Savoy acquisition 71,900 5.51 Exercised - - Forfeited - - Outstanding, June 30 2021 227,406 $ 9.50 $ 1,795 3.76 years (1) All outstanding options are fully vested and exercisable.
Summary of Restricted Stock Activity	A summary of restricted stock activity follows: Number of Shares Weighted- Average Grant Date Fair Value Unvested, October 1, 2020 95,052 $ 19.56 Granted 15,727 21.93 Vested (44,946 ) 19.09 Forfeited (667 ) 21.79 Unvested, June 30 2021 65,166 $ 20.43

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	9 Months Ended
	Jun. 30, 2021
REGULATORY MATTERS [Abstract]
Capital Amounts and Ratios	The Bank’s capital amounts (in thousands) and ratios are presented in the table that follows. Actual Required for capital adequacy purposes Excess of amount required for capital adequacy purposes (1) To be Well Capitalized under prompt corrective action regulations Amount Ratio Amount Ratio Amount Ratio Amount Ratio June 30 2021 Total capital to risk-weighted assets $ 126,624 15.01 % $ 67,535 8.00 % $ 59,089 7.00 % $ 84,419 10.00 % Tier 1 capital to risk-weighted assets 118,536 14.05 % 50,651 6.00 % 67,885 8.04 % 67,535 8.00 % Common equity tier 1 capital to risk-weighted assets 118,536 14.05 % 37,988 4.50 % 80,548 9.54 % 54,872 6.50 % Tier 1 capital to adjusted average assets (leverage) 118,536 11.20 % 42,351 4.00 % N/A N/A 52,938 5.00 % September 30, 2020 Total capital to risk-weighted assets $ 95,079 20.57 % $ 36,970 8.00 % $ 58,109 12.57 % $ 46,212 10.00 % Tier 1 capital to risk-weighted assets 89,275 19.32 % 27,727 6.00 % 61,548 13.32 % 36,970 8.00 % Common equity tier 1 capital to risk-weighted assets 89,275 19.32 % 20,796 4.50 % 68,479 14.82 % 30,038 6.50 % Tier 1 capital to adjusted average assets (leverage) 89,275 11.22 % 31,820 4.00 % N/A N/A 39,775 5.00 % (1) The capital conservation buffer is the minimum of the excess amounts shown, that is 7.00% and 12.57% at June 30, 2021 and September 30, 2020, respectively.

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Jun. 30, 2021
FAIR VALUE [Abstract]
Fair Value Measurements on Recurring Basis	The following presents fair value measurements on a recurring basis at June 30, 2021 and September 30, 2020 (in thousands): Fair Value Measurements Using Assets: June 30, 2021 Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Securities available for sale: U.S. GSE residential mortgage-backed securities $ 844 $ 844 $ - Corporate bonds 6,933 6,933 - Mortgage servicing rights 3,815 - 3,815 Total $ 11,592 $ 7,777 $ 3,815 Fair Value Measurements Using Assets: September 30, 2020 Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Securities available for sale: U.S. GSE residential mortgage-backed securities $ 962 $ 962 $ - Corporate bonds 5,073 5,073 - Mortgage servicing rights 155 - 155 Total $ 6,190 $ 6,035 $ 155
Reconciliations for Mortgage Servicing Rights Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)	Reconciliations for mortgage servicing rights measured at fair value on a recurring basis using significant unobservable inputs (Level 3) follow (in thousands). Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Beginning balance $ 130 $ 199 $ 155 $ 266 Savoy acquisition 3,776 - 3,776 - Adjustment to fair value (91 ) (26 ) (116 ) (93 ) Ending balance $ 3,815 $ 173 $ 3,815 $ 173
Carrying Amounts and Estimated Fair Value of Financial Instruments	The following presents the carrying amounts and estimated fair values of the Company’s financial instruments not carried at fair value at June 30, 2021 and September 30, 2020 (in thousands). Fair Value Measurements Using June 30 2021 Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Financial Assets: Cash and cash equivalents $ 172,534 $ 172,534 $ - $ - $ 172,534 Securities held to maturity 8,987 - 9,263 - 9,263 Loans, net 1,285,410 - - 1,325,596 1,325,596 Accrued interest receivable 10,920 - 153 10,767 10,920 Financial Liabilities: Time deposits 460,689 - 461,641 - 461,641 Demand and other deposits 698,733 698,733 - - 698,733 Borrowings 228,625 - 228,650 - 228,650 Subordinated debentures 24,498 - 27,296 - 27,296 Accrued interest payable 1,156 2 1,154 - 1,156 Fair Value Measurements Using September 30, 2020 Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Financial Assets: Cash and cash equivalents $ 80,209 $ 80,209 $ - $ - $ 80,209 Securities held to maturity 10,727 - 11,131 - 11,131 Loans, net 717,150 - - 746,969 746,969 Accrued interest receivable 6,766 - 218 6,548 6,766 Financial Liabilities: Time deposits 394,753 - 397,842 - 397,842 Demand and other deposits 270,007 270,007 - - 270,007 Borrowings 85,154 - 87,052 - 87,052 Note payable 14,984 - - 15,329 15,329 Accrued interest payable 374 1 339 34 374

BORROWINGS (Tables)

BORROWINGS (Tables)	9 Months Ended
	Jun. 30, 2021
Borrowings [Abstract]
Outstanding FHLB Advances Contractual Maturities	The following presents the Company’s outstanding FHLB advances contractual maturities in the fiscal years shown (dollars in thousands): At June 30,2021 Maturity Amount Weighted Average Rate 2021 $ 9,714 1.46 % 2022 4,000 2.02 % 2023 11,800 2.23 % 2024 18,860 0.98 % 2025 7,080 0.58 % $ 51,454 1.38 %

BASIS OF PRESENTATION, RISKS _3

BASIS OF PRESENTATION, RISKS AND UNCERTAINTIES, ACCOUNTING POLICIES AND RECENT ACCOUNTING DEVELOPMENTS (Details) $ in Millions	Jun. 30, 2021USD ($)
Financial Asset Acquired with Credit Deterioration [Member]
Loans and Loan Interest Income Recognition [Abstract]
Loans with evidence of credit deterioration since origination	$ 11.1

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($) $ / shares in Units, $ in Thousands		May 26, 2021	Apr. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Business Combination [Abstract]
Common stock, par value (in dollars per share)				$ 0.01		$ 0.01
Liabilities assumed [Abstract]
Cash paid in acquisition				$ 32,991	$ 0
Goodwill recorded on acquisition				$ 18,100		$ 1,901
Savoy Bank [Member]
Assets acquired [Abstract]
Cash and due from banks		$ 59,155
Securities available-for-sale		239
Loans held for sale		3,883
Loans held for investment		569,251
Premises and equipment, net		234
Core deposit intangible		0
Accrued interest receivable		5,171
Restricted securities, at cost		760
Other assets		9,672
Total assets acquired		648,365
Liabilities assumed [Abstract]
Deposits		340,215
Borrowings		258,247
Accrued interest payable		1,050
Other liabilities and accrued expenses		3,817
Total liabilities assumed		603,329
Goodwill deductible for income tax purposes		$ 0
Savoy Bank [Member] | Maximum [Member]
Liabilities assumed [Abstract]
Period for completion of fair value assessment		1 year
Savoy Bank [Member] | Fair Value Adjustments [Member]
Assets acquired [Abstract]
Cash and due from banks		$ 0
Securities available-for-sale		0
Loans held for sale		0
Loans held for investment	[1]	8,612
Premises and equipment, net	[2]	(22)
Core deposit intangible	[3]	490
Accrued interest receivable	[4]	(650)
Restricted securities, at cost		0
Other assets	[5]	(1,858)
Total assets acquired		6,572
Liabilities assumed [Abstract]
Deposits	[6]	2,527
Borrowings	[7]	301
Accrued interest payable		0
Other liabilities and accrued expenses	[8]	(342)
Total liabilities assumed		2,486
Savoy Bank [Member] | Estimate of Fair Value Measurement [Member]
Assets acquired [Abstract]
Cash and due from banks		59,155
Securities available-for-sale		239
Loans held for sale		3,883
Loans held for investment		577,863
Premises and equipment, net		212
Core deposit intangible		490
Accrued interest receivable		4,521
Restricted securities, at cost		760
Other assets		7,814
Total assets acquired		654,937
Liabilities assumed [Abstract]
Deposits		342,742
Borrowings		258,548
Accrued interest payable		1,050
Other liabilities and accrued expenses		3,475
Total liabilities assumed		605,815
Net assets acquired		49,122
Cash paid in acquisition		32,991
Equity effect of Savoy transaction		32,521
Goodwill recorded on acquisition		$ 16,390
Savoy Bank [Member] | Common Stock [Member]
Business Combination [Abstract]
Common stock, par value (in dollars per share)			$ 1
Cash paid, per share (in dollars per share)			$ 3.246
Number of shares issued for each share of common stock in conversion of common stock ( in shares)			0.141
Final aggregate purchase price			$ 65,500
Business acquisition share price (in dollars per share)			$ 6.49
Common stock issued as part of merger consideration (in shares)			1,357,567
[1]	Represents the fair value adjustments on net book value of loans, which includes an interest rate mark and credit mark adjustment, the write-off of deferred fees/costs and premiums and the elimination of Savoy’s allowance for loan losses.
[2]	Represents the fair value adjustments to reflect the fair value of premises and equipment.
[3]	Represents the fair value of core deposit intangible recorded, which will be amortized on an accelerated basis over the estimated average life of the deposit base.
[4]	Represents an adjustment to accrued interest receivable acquired.
[5]	Represents an adjustments to other assets acquired. The largest adjustment was the net deferred tax assets resulting from the fair value adjustment related to the acquired assets, liabilities assumed and identifiable intangible assets recorded.
[6]	Represents the fair value adjustments on time deposits, which will be treated as a reduction of interest expense over the remaining term of the time deposits.
[7]	Represents the fair value adjustments on an FHLB borrowing, which will be treated as a reduction to interest expense over the life of the borrowing.
[8]	Represents an adjustment to other liabilities assumed.

BUSINESS COMBINATIONS, Loans Ac

BUSINESS COMBINATIONS, Loans Acquired in Savoy Acquisition (Details) - Savoy Bank [Member] $ in Thousands	May 26, 2021USD ($)
Loans Acquired in Acquisition [Abstract]
Contractually required principal and interest acquisition	$ 14,416
Contractual cash flows not expected to be collected (non-accretable discount)	(3,467)
Expected cash flows at acquisition	10,949
Interest component of expected cash flows (accretable discount)	(540)
Fair value of acquired loans	$ 10,409

BUSINESS COMBINATIONS, Unaudite

BUSINESS COMBINATIONS, Unaudited Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Savoy Bank [Member]
Supplemental Unaudited Pro Forma Financial Information [Abstract]
Net interest income	$ 13,847		$ 40,729	$ 35,788
Non interest income	5,101		9,082	3,973
Non interest expense	13,684		30,634	23,755
Net income	$ 3,634		$ 13,250	$ 8,904
Basic earnings per share (in dollars per share)	$ 0.65		$ 2.38	$ 1.61
Diluted earnings per share (in dollars per share)	$ 0.64		$ 2.35	$ 1.60
Chinatown Federal Savings Bank [Member]
Supplemental Unaudited Pro Forma Financial Information [Abstract]
Decrease in goodwill		$ (191)

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
EARNINGS PER COMMON SHARE [Abstract]
Antidilutive stock options (in shares)	0	0	0	0
Basic earnings per common share [Abstract]
Net income	$ 221	$ 1,409	$ 3,795	$ 3,428
Weighted average common shares outstanding (in shares)	4,731,949	4,166,961	4,368,809	4,159,531
Basic earnings per common share (in dollars per share)	$ 0.05	$ 0.34	$ 0.87	$ 0.82
Diluted earnings per common share [Abstract]
Net income	$ 221	$ 1,409	$ 3,795	$ 3,428
Weighted average common shares outstanding (in shares)	4,731,949	4,166,961	4,368,809	4,159,531
Add: dilutive effects of assumed exercises of stock options (in shares)	84,311	64,176	84,129	64,313
Average shares and dilutive potential common shares (in shares)	4,816,260	4,231,137	4,452,938	4,223,844
Diluted earnings per common share (in dollars per share)	$ 0.05	$ 0.33	$ 0.85	$ 0.81

SECURITIES, Investment Securiti

SECURITIES, Investment Securities Available for Sale and Held to Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Available for sale [Abstract]
Amortized cost	$ 7,453	$ 5,838
Gross unrealized gains	324	197
Gross unrealized losses	0	0
Fair value	7,777	6,035
Held to maturity [Abstract]
Amortized cost	8,987	10,727
Gross unrealized gains	280	404
Gross unrealized losses	(4)	0
Fair value	9,263	11,131
Investment Securities [Abstract]
Amortized cost	16,440	16,565
Gross unrealized gains	604	601
Gross unrealized losses	(4)	0
Fair value	17,040	17,166
Gross unrealized losses in a continuous loss position for less than twelve months	4
Gross unrealized losses in a continuous loss position		0
Investment securities pledged to secure public deposits	2,400	5,600
U.S. GSE Securities [Member]
Available for sale [Abstract]
Amortized cost	753	838
Gross unrealized gains	91	124
Gross unrealized losses	0	0
Fair value	844	962
U.S. GSE Securities [Member] | Residential Mortgage Backed Securities [Member]
Held to maturity [Abstract]
Amortized cost	2,779	4,478
Gross unrealized gains	67	118
Gross unrealized losses	0	0
Fair value	2,846	4,596
U.S. GSE Securities [Member] | Commercial Mortgage Backed Securities [Member]
Held to maturity [Abstract]
Amortized cost	2,708	2,749
Gross unrealized gains	194	253
Gross unrealized losses	0	0
Fair value	2,902	3,002
Corporate Bonds [Member]
Available for sale [Abstract]
Amortized cost	6,700	5,000
Gross unrealized gains	233	73
Gross unrealized losses	0	0
Fair value	6,933	5,073
Held to maturity [Abstract]
Amortized cost	3,500	3,500
Gross unrealized gains	19	33
Gross unrealized losses	(4)	0
Fair value	$ 3,515	$ 3,533

SECURITIES, Securities Portfoli

SECURITIES, Securities Portfolio Presented by Contractual Maturity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Securities Available for Sale, Amortized Cost [Abstract]
Five to ten years	$ 6,700		$ 6,700
Amortized cost	7,453		7,453		$ 5,838
Securities Available for Sale, Fair Value [Abstract]
Five to ten years	6,933		6,933
Fair value	7,777		7,777		6,035
Securities Held to Maturity, Amortized Cost [Abstract]
One to five years	1,500		1,500
Five to ten years	2,000		2,000
Amortized cost	8,987		8,987		10,727
Securities Held to Maturity, Fair Value [Abstract]
One to five years	1,496		1,496
Five to ten years	2,019		2,019
Fair value	9,263		9,263		11,131
Investment Securities [Abstract]
Amortized cost	16,440		16,440		16,565
Fair value	17,040		17,040		17,166
Proceeds from sales of securities available for sale	0	$ 0	3,240	$ 0
Recognized gross gain			240
U.S. GSE Securities [Member]
Securities Available for Sale, Amortized Cost [Abstract]
Amortized cost	753		753		838
Securities Available for Sale, Fair Value [Abstract]
Fair value	844		844		962
U.S. GSE Securities [Member] | Residential Mortgage Backed Securities [Member]
Securities Available for Sale, Amortized Cost [Abstract]
Without single maturity date	753		753
Securities Available for Sale, Fair Value [Abstract]
Without single maturity date	844		844
Securities Held to Maturity, Amortized Cost [Abstract]
Without single maturity date	2,779		2,779
Amortized cost	2,779		2,779		4,478
Securities Held to Maturity, Fair Value [Abstract]
Without single maturity date	2,846		2,846
Fair value	2,846		2,846		4,596
U.S. GSE Securities [Member] | Commercial Mortgage Backed Securities [Member]
Securities Held to Maturity, Amortized Cost [Abstract]
Without single maturity date	2,708		2,708
Amortized cost	2,708		2,708		2,749
Securities Held to Maturity, Fair Value [Abstract]
Without single maturity date	2,902		2,902
Fair value	$ 2,902		$ 2,902		$ 3,002

LOANS, Classification of Loans

LOANS, Classification of Loans (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021USD ($)Loan	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)Loan	Jun. 30, 2020USD ($)	Mar. 31, 2021USD ($)	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)
Classification of Loans by Loan Portfolio Segment [Abstract]
Gross loans	$ 1,293,262		$ 1,293,262			$ 725,351
Net deferred fees	0		0			(332)
Total Loans	1,293,262		1,293,262			725,019
Allowance for loan losses	(7,852)	$ (7,993)	(7,852)	$ (7,993)	$ (8,179)	(7,869)	$ (7,843)	$ (7,143)
Loans held for investment, net	1,285,410		1,285,410			717,150
Servicing of loans to others	230,100		230,100			26,800
Loans held for sale	3,883		3,883			0
Amount from sale of loans	13,500	1,700	32,000	32,600
Recognized net gains amount	$ 212	15	$ 688	917
PPP Loans [Member]
Classification of Loans by Loan Portfolio Segment [Abstract]
Interest rate	1.00%		1.00%
Number of loans forgiven | Loan	852		852
Amount of loans forgiven	$ 124,800		$ 124,800
PPP Loans [Member] | Minimum [Member]
Classification of Loans by Loan Portfolio Segment [Abstract]
Loan term			2 years
PPP Loans [Member] | Maximum [Member]
Classification of Loans by Loan Portfolio Segment [Abstract]
Loan term			5 years
Residential Real Estate [Member]
Classification of Loans by Loan Portfolio Segment [Abstract]
Gross loans	453,108		$ 453,108			454,073
Total Loans	453,119		453,119			453,760
Allowance for loan losses	(4,375)	(5,270)	(4,375)	(5,270)	(4,851)	(5,103)	(5,261)	(4,647)
Multi-family [Member]
Classification of Loans by Loan Portfolio Segment [Abstract]
Gross loans	227,545		227,545			136,539
Total Loans	227,887		227,887			136,737
Allowance for loan losses	(1,900)	(1,405)	(1,900)	(1,405)	(1,955)	(1,506)	(1,440)	(1,215)
Commercial Real Estate [Member]
Classification of Loans by Loan Portfolio Segment [Abstract]
Gross loans	331,040		331,040			113,615
Total Loans	331,242		331,242			113,758
Allowance for loan losses	(1,509)	(1,229)	(1,509)	(1,229)	(1,310)	(1,221)	(1,061)	(1,193)
Commercial and Industrial [Member]
Classification of Loans by Loan Portfolio Segment [Abstract]
Gross loans	271,038		271,038			21,100
Total Loans	270,481		270,481			20,738
Allowance for loan losses	(67)	(87)	(67)	(87)	(62)	(38)	(79)	(75)
Commercial and Industrial [Member] | PPP Loans [Member]
Classification of Loans by Loan Portfolio Segment [Abstract]
Gross loans	240,300		240,300			17,600
Construction [Member]
Classification of Loans by Loan Portfolio Segment [Abstract]
Gross loans	10,517		10,517			0
Total Loans	10,517		10,517			0
Allowance for loan losses	0		0
Consumer [Member]
Classification of Loans by Loan Portfolio Segment [Abstract]
Gross loans	14		14			24
Total Loans	16		16			26
Allowance for loan losses	$ (1)	$ (2)	$ (1)	$ (2)	$ (1)	$ (1)	$ (2)	$ (13)

LOANS, Allowance for Loan Losse

LOANS, Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Allowance for loan losses by portfolio segment [Roll Forward]
Balance at beginning of period	$ 8,179	$ 7,843	$ 7,869	$ 7,143
Charge-offs	(328)	0	(328)	(300)
Recoveries	1	0	11	0
Provision (credit) for loan losses	0	150	300	1,150
Balance at end of period	7,852	7,993	7,852	7,993
Residential Real Estate [Member]
Allowance for loan losses by portfolio segment [Roll Forward]
Balance at beginning of period	4,851	5,261	5,103	4,647
Charge-offs	(267)	0	(267)	0
Recoveries	0	0	0	0
Provision (credit) for loan losses	(209)	9	(461)	623
Balance at end of period	4,375	5,270	4,375	5,270
Multi-family [Member]
Allowance for loan losses by portfolio segment [Roll Forward]
Balance at beginning of period	1,955	1,440	1,506	1,215
Charge-offs	(32)	0	(32)	0
Recoveries	0	0	0	0
Provision (credit) for loan losses	(23)	(35)	426	190
Balance at end of period	1,900	1,405	1,900	1,405
Commercial Real Estate [Member]
Allowance for loan losses by portfolio segment [Roll Forward]
Balance at beginning of period	1,310	1,061	1,221	1,193
Charge-offs	(29)	0	(29)	0
Recoveries	0	0	0	0
Provision (credit) for loan losses	228	168	317	36
Balance at end of period	1,509	1,229	1,509	1,229
Commercial and Industrial [Member]
Allowance for loan losses by portfolio segment [Roll Forward]
Balance at beginning of period	62	79	38	75
Charge-offs	0	0	0	(300)
Recoveries	1	0	11	0
Provision (credit) for loan losses	4	8	18	312
Balance at end of period	67	87	67	87
Consumer [Member]
Allowance for loan losses by portfolio segment [Roll Forward]
Balance at beginning of period	1	2	1	13
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision (credit) for loan losses	0	0	0	(11)
Balance at end of period	$ 1	$ 2	$ 1	$ 2

LOANS, Allowance for Loan Los_2

LOANS, Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment Based on Impairment Method (Details) - USD ($) $ in Thousands		Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019
Allowance for Loan Losses [Abstract]
Ending balance, individually evaluated for impairment		$ 0		$ 0
Ending balance, collectively evaluated for impairment		7,852		7,869
Total ending allowance		7,852	$ 8,179	7,869	$ 7,993	$ 7,843	$ 7,143
Loan Balances [Abstract]
Ending balance, individually evaluated for impairment		8,699		3,231
Ending balance, purchased credit impaired loans	[1]	11,109
Ending balance, collectively evaluated for impairment		1,273,454		721,788
Total Loans		1,293,262		725,019
Residential Real Estate [Member]
Allowance for Loan Losses [Abstract]
Ending balance, individually evaluated for impairment		0		0
Ending balance, collectively evaluated for impairment		4,375		5,103
Total ending allowance		4,375	4,851	5,103	5,270	5,261	4,647
Loan Balances [Abstract]
Ending balance, individually evaluated for impairment		7,154		2,221
Ending balance, purchased credit impaired loans	[1]	0
Ending balance, collectively evaluated for impairment		445,965		451,539
Total Loans		453,119		453,760
Multi-family [Member]
Allowance for Loan Losses [Abstract]
Ending balance, individually evaluated for impairment		0		0
Ending balance, collectively evaluated for impairment		1,900		1,506
Total ending allowance		1,900	1,955	1,506	1,405	1,440	1,215
Loan Balances [Abstract]
Ending balance, individually evaluated for impairment		451		47
Ending balance, purchased credit impaired loans	[1]	0
Ending balance, collectively evaluated for impairment		227,436		136,690
Total Loans		227,887		136,737
Commercial Real Estate [Member]
Allowance for Loan Losses [Abstract]
Ending balance, individually evaluated for impairment		0		0
Ending balance, collectively evaluated for impairment		1,509		1,221
Total ending allowance		1,509	1,310	1,221	1,229	1,061	1,193
Loan Balances [Abstract]
Ending balance, individually evaluated for impairment		550		629
Ending balance, purchased credit impaired loans	[1]	9,027
Ending balance, collectively evaluated for impairment		321,665		113,129
Total Loans		331,242		113,758
Commercial and Industrial [Member]
Allowance for Loan Losses [Abstract]
Ending balance, individually evaluated for impairment		0		0
Ending balance, collectively evaluated for impairment		67		38
Total ending allowance		67	62	38	87	79	75
Loan Balances [Abstract]
Ending balance, individually evaluated for impairment		544		334
Ending balance, purchased credit impaired loans	[1]	2,082
Ending balance, collectively evaluated for impairment		267,855		20,404
Total Loans		270,481		20,738
Construction [Member]
Allowance for Loan Losses [Abstract]
Ending balance, individually evaluated for impairment		0
Ending balance, collectively evaluated for impairment		0
Total ending allowance		0
Loan Balances [Abstract]
Ending balance, individually evaluated for impairment		0
Ending balance, purchased credit impaired loans	[1]	0
Ending balance, collectively evaluated for impairment		10,517
Total Loans		10,517		0
Consumer [Member]
Allowance for Loan Losses [Abstract]
Ending balance, individually evaluated for impairment		0		0
Ending balance, collectively evaluated for impairment		1		1
Total ending allowance		1	$ 1	1	$ 2	$ 2	$ 13
Loan Balances [Abstract]
Ending balance, individually evaluated for impairment		0		0
Ending balance, purchased credit impaired loans	[1]	0
Ending balance, collectively evaluated for impairment		16		26
Total Loans		$ 16		$ 26
[1]	No allowance was recorded on purchased credit impaired loans.

LOANS, Impaired Loans (Details)

LOANS, Impaired Loans (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
With no related allowance recorded [Abstract]
Unpaid principal balance		$ 8,748		$ 8,748		$ 3,531
Recorded investment		8,699		8,699		3,231
Average recorded investment and interest income recognized [Abstract]
Average recorded investment		6,482	$ 2,969	5,116	$ 2,983
Interest income recognized	[1]	39	31	85	93
Residential Real Estate [Member]
With no related allowance recorded [Abstract]
Unpaid principal balance		7,292		7,292		2,221
Recorded investment		7,154		7,154		2,221
Average recorded investment and interest income recognized [Abstract]
Average recorded investment		5,937	2,234	4,890	2,062
Interest income recognized	[1]	35	21	76	63
Multi-family [Member]
With no related allowance recorded [Abstract]
Unpaid principal balance		381		381		47
Recorded investment		451		451		47
Average recorded investment and interest income recognized [Abstract]
Average recorded investment		171	61	85	71
Interest income recognized	[1]	3	4	7	12
Commercial Real Estate [Member]
With no related allowance recorded [Abstract]
Unpaid principal balance		531		531		629
Recorded investment		550		550		629
Average recorded investment and interest income recognized [Abstract]
Average recorded investment		193	340	81	350
Interest income recognized	[1]	1	6	2	18
Commercial and Industrial [Member]
With no related allowance recorded [Abstract]
Unpaid principal balance		544		544		634
Recorded investment		544		544		$ 334
Average recorded investment and interest income recognized [Abstract]
Average recorded investment		181	334	60	500
Interest income recognized	[1]	$ 0	$ 0	$ 0	$ 0
[1]	Accrual basis interest income recognized approximates cash basis income.

LOANS, Loan Portfolio Past Due

LOANS, Loan Portfolio Past Due and Non-Accrual Loans (Details) - USD ($) $ in Thousands		Jun. 30, 2021		Sep. 30, 2020
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		$ 1,282,153	[1]	$ 725,019
Non-accrual		7,043		953	[2]
Purchased credit impaired loans	[3]	11,109
Total past due and non-accrual		8,507		5,756
30-59 Days Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		1,464		4,507
60-89 Days Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		0
90 Days or Over Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		296
Current [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		1,273,646		719,263
Residential Real Estate [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		453,119	[1]	453,760
Non-accrual		5,498	[4]	538	[2]
Purchased credit impaired loans	[3]	0
Total past due and non-accrual		6,255		5,045
Residential Real Estate [Member] | 30-59 Days Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		757		4,507
Residential Real Estate [Member] | 60-89 Days Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		0
Residential Real Estate [Member] | 90 Days or Over Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		0
Non-accrual		2,607
Residential Real Estate [Member] | Current [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		446,864		448,715
Non-accrual		2,891
Multi-family [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		227,887	[1]	136,737
Non-accrual		451	[5]	47	[2]
Purchased credit impaired loans	[3]	0
Total past due and non-accrual		451		47
Multi-family [Member] | 30-59 Days Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		0
Multi-family [Member] | 60-89 Days Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		0
Multi-family [Member] | 90 Days or Over Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		0
Multi-family [Member] | Current [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		227,436		136,690
Commercial Real Estate [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		322,215	[1]	113,758
Non-accrual		549	[6]	34	[2]
Purchased credit impaired loans	[3]	9,027
Total past due and non-accrual		1,256		330
Commercial Real Estate [Member] | 30-59 Days Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		707		0
Commercial Real Estate [Member] | 60-89 Days Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		0
Commercial Real Estate [Member] | 90 Days or Over Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		296
Commercial Real Estate [Member] | Current [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		320,959		113,428
Commercial and Industrial [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		268,399	[1]	20,738
Non-accrual		545	[7]	334	[2]
Purchased credit impaired loans	[3]	2,082
Total past due and non-accrual		545		334
Commercial and Industrial [Member] | 30-59 Days Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		0
Commercial and Industrial [Member] | 60-89 Days Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		0
Commercial and Industrial [Member] | 90 Days or Over Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		0
Commercial and Industrial [Member] | Current [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		267,854		20,404
Construction [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans	[1]	10,517
Non-accrual		0
Purchased credit impaired loans	[3]	0
Total past due and non-accrual		0
Construction [Member] | 30-59 Days Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0
Construction [Member] | 60-89 Days Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0
Construction [Member] | 90 Days or Over Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0
Construction [Member] | Current [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		10,517
Consumer [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		16	[1]	26
Non-accrual		0		0	[2]
Purchased credit impaired loans	[3]	0
Total past due and non-accrual		0		0
Consumer [Member] | 30-59 Days Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		0
Consumer [Member] | 60-89 Days Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		0
Consumer [Member] | 90 Days or Over Past Due [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		0		0
Consumer [Member] | Current [Member]
Loan Portfolio Past Due and Non-Accrual Loans [Abstract]
Recorded total loans		$ 16		$ 26
[1]	Excludes purchased credit impaired loans totaling $11,109.
[2]	Non-accrual loans at September 30, 2020 were 90 days or more past due.
[3]	No allowance was recorded on purchased credit impaired loans.
[4]	Of the residential real estate non-accrual loans at June 30, 2021, $2,891 were not past due and $2,607 were 90 days or more past due.
[5]	Multi-family non-accrual loans at June 30, 2021 were 90 days or more past due.
[6]	Commercial real estate non-accrual loans at June 30, 2021 were 90 days or more past due.
[7]	Commercial and industrial non-accrual loans at June 30, 2021 were 90 days or more past due.

LOANS, Troubled Debt Restructur

LOANS, Troubled Debt Restructurings (Details) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2021USD ($)Loan	Jun. 30, 2020Loan	Jun. 30, 2021USD ($)Loan	Jun. 30, 2020Loan	Sep. 30, 2020USD ($)
Troubled Debt Restructurings [Abstract]
Recorded investment in TDRs	$ 1.7		$ 1.7		$ 1.7
Specific reserves allocated to troubled debt restructurings	0		0		0
Commitments to lend additional funds in troubled debt restructurings	$ 0		$ 0		$ 0
TDR's with subsequent payment default | Loan	0	0	0	0
Threshold period for payment default			90 days
Number of TDR's | Loan	0	0	0	0
Modifications Excluded from TDR Classification [Abstract]
Forbearance period of monthly payments			180 days
Additional forbearance period of monthly payments			180 days
COVID-19 [Member]
Modifications Excluded from TDR Classification [Abstract]
Aggregate number of loan modifications made by other than troubled debt restructurings | Loan			519
Aggregate amount of loan modifications made by other than troubled debt restructurings, aggregate principal balances	$ 367.1		$ 367.1
Number of loans in forbearance | Loan	34		34
Amount of loans in forbearance	$ 34		$ 34
Number of loans in forbearance, qualified | Loan	14		14
Amount of loans in forbearance, qualified	$ 7.7		$ 7.7

LOANS, Loan Portfolio by Credit

LOANS, Loan Portfolio by Credit Risk Rating (Details) - USD ($) $ in Thousands		Jun. 30, 2021		Sep. 30, 2020
Loans Portfolio by Credit Risk Rating [Abstract]
Total		$ 1,293,262		$ 725,019
Purchased credit impaired loans	[1]	11,109
Pass [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		1,240,563		716,807
Special Mention [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		29,424		5,080
Substandard [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		23,275	[2]	3,132
Residential Real Estate [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		453,119		453,760
Purchased credit impaired loans	[1]	0
Residential Real Estate [Member] | Pass [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		442,114		449,524
Residential Real Estate [Member] | Special Mention [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		5,507		2,893
Residential Real Estate [Member] | Substandard [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		5,498	[2]	1,343
Multi-family [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		227,887		136,737
Purchased credit impaired loans	[1]	0
Multi-family [Member] | Pass [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		223,454		135,396
Multi-family [Member] | Special Mention [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		3,982		1,294
Multi-family [Member] | Substandard [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		451	[2]	47
Commercial Real Estate [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		331,242		113,758
Purchased credit impaired loans	[1]	9,027
Commercial Real Estate [Member] | Pass [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		297,491		111,457
Commercial Real Estate [Member] | Special Mention [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		19,051		893
Commercial Real Estate [Member] | Substandard [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		14,700	[2]	1,408
Commercial and Industrial [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		270,481		20,738
Purchased credit impaired loans	[1]	2,082
Commercial and Industrial [Member] | Pass [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		266,971		20,404
Commercial and Industrial [Member] | Special Mention [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		884		0
Commercial and Industrial [Member] | Substandard [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		2,626	[2]	334
Construction [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		10,517		0
Purchased credit impaired loans	[1]	0
Construction [Member] | Pass [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		10,517		0
Construction [Member] | Special Mention [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		0		0
Construction [Member] | Substandard [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		0	[2]	0
Consumer [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		16		26
Purchased credit impaired loans	[1]	0
Consumer [Member] | Pass [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		16		26
Consumer [Member] | Special Mention [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		0		0
Consumer [Member] | Substandard [Member]
Loans Portfolio by Credit Risk Rating [Abstract]
Total		$ 0	[2]	$ 0
[1]	No allowance was recorded on purchased credit impaired loans.
[2]	Includes purchased credit impaired loans totaling $11,109.

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details)	9 Months Ended
	Jun. 30, 2021shares
2018 Plan [Member]
Stock-based Compensation [Abstract]
Number of common shares approved for issuance (in shares)	346,000
Number of shares available for issuance (in shares)	207,681
Stock Options [Member]
Stock-based Compensation [Abstract]
Number of Savoy options converted (in shares)	71,900

STOCK-BASED COMPENSATION, Stock

STOCK-BASED COMPENSATION, Stock Option (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended			12 Months Ended
	Jun. 30, 2020	Jun. 30, 2021		Jun. 30, 2020	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from option exercises		$ 0		$ 107
Number of Options [Roll Forward]
Exercised (in shares)				(10,735)
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Contractual term		10 years
Intrinsic value of options exercised				$ 127
Cash received from option exercises				107
Tax benefits recognized resulting from option exercises	$ 0			44
Number of Options [Roll Forward]
Outstanding, beginning of period (in shares)		155,506
Converted in Savoy acquisition (in shares)		71,900
Exercised (in shares)		0
Forfeited (in shares)		0
Outstanding, end of period (in shares)		227,406	[1]		155,506
Weighted-Average Exercise Price Per Share [Roll Forward]
Outstanding, beginning of period (in dollars per share)		$ 11.35
Converted in Savoy acquisition (in dollars per share)		5.51
Exercised (in dollars per share)		0
Forfeited (in dollars per share)		0
Outstanding, end of period (in dollars per share)		$ 9.50	[1]		$ 11.35
Aggregate intrinsic value, outstanding		$ 1,795	[1]		$ 1,623
Weighted-average remaining contractual term, outstanding		3 years 9 months 3 days	[1]		4 years 7 months 28 days
Fair value share price (in dollars per share)		$ 17.65
Compensation expenses	$ 4	$ 0		$ 14
[1]	All outstanding options are fully vested and exercisable.

STOCK-BASED COMPENSATION, Restr

STOCK-BASED COMPENSATION, Restricted Stock (Details) - Restricted Stock [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Number of Shares [Roll Forward]
Unvested, beginning of period (in shares)			95,052
Granted (in shares)			15,727
Vested (in shares)			(44,946)
Forfeited (in shares)			(667)
Unvested, end of period (in shares)	65,166		65,166
Weighted-Average Grant Date Fair Value [Roll Forward]
Unvested, beginning of period (in dollars per share)			$ 19.56
Granted (in dollars per share)			21.93
Vested (in dollars per share)			19.09
Forfeited (in dollars per share)			21.79
Unvested, end of period (in dollars per share)	$ 20.43		$ 20.43
Compensation expenses	$ 224	$ 210	$ 669	$ 533
Unrealized compensation cost	$ 1,100		$ 1,100
Weighted-average term for recognizing unrealized compensation cost			1 year 6 months 10 days
Total fair value of shares vested			$ 868	$ 835

REGULATORY MATTERS (Details)

REGULATORY MATTERS (Details) $ in Thousands		9 Months Ended
		Jun. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Total capital to risk-weighted assets [Abstract]
Actual, Amount		$ 126,624	$ 95,079
Actual, Ratio		0.1501	0.2057
Required for capital adequacy purposes, Amount		$ 67,535	$ 36,970
Required for capital adequacy purposes, Ratio		0.0800	0.0800
Excess of amount required for capital adequacy purposes, Amount	[1]	$ 59,089	$ 58,109
Excess of amount required for capital adequacy purposes, Ratio	[1]	0.0700	0.1257
To be Well Capitalized under prompt corrective action regulations, Amount		$ 84,419	$ 46,212
To be Well Capitalized under prompt corrective action regulations, Ratio		0.1000	0.1000
Tier 1 capital to risk-weighted assets [Abstract]
Actual, Amount		$ 118,536	$ 89,275
Actual, Ratio		0.1405	0.1932
Required for capital adequacy purposes, Amount		$ 50,651	$ 27,727
Required for capital adequacy purposes, Ratio		0.0600	0.0600
Excess of amount required for capital adequacy purposes, Amount	[1]	$ 67,885	$ 61,548
Excess of amount required for capital adequacy purposes, Ratio	[1]	0.0804	0.1332
To be Well Capitalized under prompt corrective action regulations, Amount		$ 67,535	$ 36,970
To be Well Capitalized under prompt corrective action regulations, Ratio		0.0800	0.0800
Common equity tier 1 capital to risk-weighted assets [Abstract]
Actual, Amount		$ 118,536	$ 89,275
Actual, Ratio		0.1405	0.1932
Required for capital adequacy purposes, Amount		$ 37,988	$ 20,796
Required for capital adequacy purposes, Ratio		0.0450	0.0450
Excess of amount required for capital adequacy purposes, Amount	[1]	$ 80,548	$ 68,479
Excess of amount required for capital adequacy purposes, Ratio	[1]	0.0954	0.1482
To be Well Capitalized under prompt corrective action regulations, Amount		$ 54,872	$ 30,038
To be Well Capitalized under prompt corrective action regulations, Ratio		0.0650	0.0650
Tier 1 capital to adjusted average assets (leverage) [Abstract]
Actual, Amount		$ 118,536	$ 89,275
Actual, Ratio		0.1120	0.1122
Required for capital adequacy purposes, Amount		$ 42,351	$ 31,820
Required for capital adequacy purposes, Ratio		0.0400	0.0400
To be Well Capitalized under prompt corrective action regulations, Amount		$ 52,938	$ 39,775
To be Well Capitalized under prompt corrective action regulations, Ratio		0.0500	0.0500
Capital conservation buffer		0.0700	0.1257
Retained earnings available to pay dividends		$ 16,600
[1]	The capital conservation buffer is the minimum of the excess amounts shown, that is 7.00% and 12.57% at June 30, 2021 and September 30, 2020, respectively.

FAIR VALUE, Fair Value Measurem

FAIR VALUE, Fair Value Measurements on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Assets [Abstract]
Securities available for sale	$ 7,777	$ 6,035
U.S. GSE Securities [Member]
Assets [Abstract]
Securities available for sale	844	962
Corporate Bonds [Member]
Assets [Abstract]
Securities available for sale	6,933	5,073
Recurring [Member]
Assets [Abstract]
Total	11,592	6,190
Recurring [Member] | U.S. GSE Securities [Member] | Residential Mortgage Backed Securities [Member]
Assets [Abstract]
Securities available for sale	844	962
Recurring [Member] | Corporate Bonds [Member]
Assets [Abstract]
Securities available for sale	6,933	5,073
Recurring [Member] | Mortgage Servicing Rights [Member]
Assets [Abstract]
Mortgage servicing rights	3,815	155
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets [Abstract]
Total	7,777	6,035
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. GSE Securities [Member] | Residential Mortgage Backed Securities [Member]
Assets [Abstract]
Securities available for sale	844	962
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Bonds [Member]
Assets [Abstract]
Securities available for sale	6,933	5,073
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage Servicing Rights [Member]
Assets [Abstract]
Mortgage servicing rights	0	0
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets [Abstract]
Total	3,815	155
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. GSE Securities [Member] | Residential Mortgage Backed Securities [Member]
Assets [Abstract]
Securities available for sale	0	0
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate Bonds [Member]
Assets [Abstract]
Securities available for sale	0	0
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member]
Assets [Abstract]
Mortgage servicing rights	$ 3,815	$ 155

FAIR VALUE, Reconciliations for

FAIR VALUE, Reconciliations for Mortgage Servicing Rights Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Details) - Mortgage Servicing Rights [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Reconciliations for Mortgage Servicing Rights Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) [Roll Forward]
Beginning balance	$ 130	$ 199	$ 155	$ 266
Savoy acquisition	3,776	0	3,776	0
Adjustment to fair value	(91)	(26)	(116)	(93)
Ending balance	$ 3,815	$ 173	$ 3,815	$ 173

FAIR VALUE, Significant Inputs

FAIR VALUE, Significant Inputs Utilized in Cash Flow Models (Details)	9 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020	Sep. 30, 2020USD ($)
Fair Value Hierarchy [Abstract]
Servicing Asset, Valuation Technique [Extensible List]	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Impaired loans, related specific allowance	$ 0		$ 0
Significant Unobservable Inputs (Level 3) [Member] | Discount Rate [Member] | Minimum [Member]
Fair Value Hierarchy [Abstract]
Mortgage servicing rights, measurement input	0.079	0.120
Significant Unobservable Inputs (Level 3) [Member] | Discount Rate [Member] | Maximum [Member]
Fair Value Hierarchy [Abstract]
Mortgage servicing rights, measurement input	0.145	0.145
Significant Unobservable Inputs (Level 3) [Member] | Prepayment Rate [Member] | Minimum [Member]
Fair Value Hierarchy [Abstract]
Mortgage servicing rights, measurement input	0.1941	0.2325
Significant Unobservable Inputs (Level 3) [Member] | Prepayment Rate [Member] | Maximum [Member]
Fair Value Hierarchy [Abstract]
Mortgage servicing rights, measurement input	0.2407	0.2360
Significant Unobservable Inputs (Level 3) [Member] | Weighted Average Life [Member] | Minimum [Member]
Fair Value Hierarchy [Abstract]
Mortgage servicing rights, measurement input	2 years 1 month 6 days	2 years 8 months 12 days
Significant Unobservable Inputs (Level 3) [Member] | Weighted Average Life [Member] | Maximum [Member]
Fair Value Hierarchy [Abstract]
Mortgage servicing rights, measurement input	3 years 9 months 18 days	3 years 3 months 18 days
Nonrecurring [Member]
Fair Value Hierarchy [Abstract]
Financial instruments measured at fair value	$ 0		$ 0

FAIR VALUE, Carrying Amounts an

FAIR VALUE, Carrying Amounts and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Carrying Amount [Member]
Financial Assets [Abstract]
Cash and cash equivalents	$ 172,534	$ 80,209
Securities held to maturity	8,987	10,727
Loans, net	1,285,410	717,150
Accrued interest receivable	10,920	6,766
Financial Liabilities [Abstract]
Time deposits	460,689	394,753
Demand and other deposits	698,733	270,007
Borrowings	228,625	85,154
Subordinated debentures	24,498
Note payable		14,984
Accrued interest payable	1,156	374
Fair Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	172,534	80,209
Securities held to maturity	9,263	11,131
Loans, net	1,325,596	746,969
Accrued interest receivable	10,920	6,766
Financial Liabilities [Abstract]
Time deposits	461,641	397,842
Demand and other deposits	698,733	270,007
Borrowings	228,650	87,052
Subordinated debentures	27,296
Note payable		15,329
Accrued interest payable	1,156	374
Fair Value [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial Assets [Abstract]
Cash and cash equivalents	172,534	80,209
Securities held to maturity	0	0
Loans, net	0	0
Accrued interest receivable	0	0
Financial Liabilities [Abstract]
Time deposits	0	0
Demand and other deposits	698,733	270,007
Borrowings	0	0
Subordinated debentures	0
Note payable		0
Accrued interest payable	2	1
Fair Value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Financial Assets [Abstract]
Cash and cash equivalents	0	0
Securities held to maturity	9,263	11,131
Loans, net	0	0
Accrued interest receivable	153	218
Financial Liabilities [Abstract]
Time deposits	461,641	397,842
Demand and other deposits	0	0
Borrowings	228,650	87,052
Subordinated debentures	27,296
Note payable		0
Accrued interest payable	1,154	339
Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member]
Financial Assets [Abstract]
Cash and cash equivalents	0	0
Securities held to maturity	0	0
Loans, net	1,325,596	746,969
Accrued interest receivable	10,767	6,548
Financial Liabilities [Abstract]
Time deposits	0	0
Demand and other deposits	0	0
Borrowings	0	0
Subordinated debentures	0
Note payable		15,329
Accrued interest payable	$ 0	$ 34

BORROWINGS (Details)

BORROWINGS (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Outstanding FHLB Advances Contractual Maturities, Amount [Abstract]
2021	$ 9,714
2022	4,000
2023	11,800
2024	18,860
2025	7,080
FHLB advances outstanding	$ 51,454	$ 69,000
Outstanding FHLB Advances Contractual Maturities, Weighted Average Rate [Abstract]
2021	1.46%
2022	2.02%
2023	2.23%
2024	0.98%
2025	0.58%
Weighted average rate	1.38%
Additional eligible borrowings from FHLB	$ 91,200
Federal Reserve Borrowings [Abstract]
Borrowings	$ 228,625	$ 85,154
Federal Home Loan Bank Advances [Member]
Federal Home Loan Bank ("FHLB") Advances [Abstract]
Maturity date, earliest	2021	2020
Maturity date, last	2025	2025
PPPLF [Member]
Federal Reserve Borrowings [Abstract]
Borrowings	$ 176,900	$ 16,200
Borrowing rate of interest	0.35%	0.35%
Minimum [Member]
Federal Home Loan Bank ("FHLB") Advances [Abstract]
Interest rate	0.37%	0.37%
Maximum [Member]
Federal Home Loan Bank ("FHLB") Advances [Abstract]
Interest rate	2.96%	2.98%
Residential and Commercial Mortgage Loans [Member]
Federal Home Loan Bank ("FHLB") Advances [Abstract]
Amount of the collateral pledged	$ 398,000	$ 143,700

SUBORDINATED DEBENTURES (Detail

SUBORDINATED DEBENTURES (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Oct. 31, 2020
Debt Instruments [Abstract]
Issuance costs recorded in interest expense		$ 59	$ 2
Subordinated Notes [Member]
Debt Instruments [Abstract]
Unamortized issuance costs	$ 502	502
Issuance costs recorded in interest expense	$ 16	$ 43
Subordinated Notes [Member] | Private Placement [Member]
Debt Instruments [Abstract]
Aggregate principal amount				$ 25,000
Debt instrument, maturity date		Dec. 31, 2030
Subordinated Notes [Member] | Private Placement [Member] | Until October 15, 2025 [Member]
Debt Instruments [Abstract]
Borrowing rate of interest				5.00%
Subordinated Notes [Member] | Private Placement [Member] | From and Including October 15, 2025 [Member] | Secured Overnight Financing Rate [Member]
Debt Instruments [Abstract]
Basis spread on variable rate		4.874%
Term of variable rate		3 months