Mercer Bancorp (MSBB) 10-Q14 Aug 242024 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Aug. 13, 2024
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	000-56575
Entity Registrant Name	Mercer Bancorp, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	92-3452469
Entity Address, Address Line One	1100 Irmscher Blvd
Entity Address, City or Town	Celina
Entity Address State Or Province	OH
Entity Address, Postal Zip Code	45822
City Area Code	419
Local Phone Number	586-5158
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		1,022,970
Entity Central Index Key	0001967306
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2024	Sep. 30, 2023
Assets
Cash and due from banks	$ 1,706,239	$ 1,707,488
Interest-bearing deposits in other financial institutions	5,094,125	4,583,848
Cash and cash equivalents	6,800,364	6,291,336
Interest-bearing time deposits	100,000	100,000
Available-for-sale securities	11,285,267	11,449,715
Held-to-maturity securities	104,193	147,291
Loans held for sale	9,775,773	3,094,405
Loans receivable		130,901,654
Allowance for credit losses		(934,331)
Net loans		129,967,323
Loans receivable	140,801,600
Allowance for credit losses	(1,010,227)
Net loans	139,791,373
Premises and equipment	2,747,134	2,601,575
Foreclosed real estate		54,000
Federal Home Loan Bank stock	1,698,300	1,368,900
Bank owned life insurance	1,817,506	1,783,880
Accrued interest receivable	597,633	456,867
Federal Home Loan Bank lender risk account	480,031	490,411
Deferred federal income taxes	361,189	407,304
Other assets	1,090,365	833,606
Total assets	176,649,128	159,046,613
Deposits
Demand	55,340,225	50,597,494
Savings and money market	37,993,670	39,900,297
Time	38,567,961	32,317,957
Total deposits	131,901,856	122,815,748
Advances from the Federal Home Loan Bank - short term	16,000,000	11,000,000
Advances from the Federal Home Loan Bank - long term	4,000,000	1,000,000
Directors plan liability	418,608	444,770
Accrued interest payable and other liabilities	804,048	1,108,404
Total liabilities	153,124,512	136,368,922
Commitments and Contingencies
Shareholders' Equity
Preferred stock - authorized 1,000,000 shares of $0.01 par value, none issued
Common stock - authorized 9,000,000 shares of $0.01 par value, issued and outstanding 1,022,970 shares	10,229	10,229
Additional paid-in capital	8,658,653	8,642,312
Shares acquired by ESOP	(754,329)	(818,380)
Shares issued to irrevocable trust	96,360	96,360
Shares held in irrevocable trust	(96,360)	(96,360)
Retained earnings	16,125,833	15,703,856
Accumulated other comprehensive loss	(515,770)	(860,326)
Total shareholders' equity	23,524,616	22,677,691
Total liabilities and shareholders' equity	$ 176,649,128	$ 159,046,613

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2024	Sep. 30, 2023
Consolidated Balance Sheets
Available-for-sale securities, allowance for credit losses	$ 0
Held-to-maturity securities, allowance for credit losses	$ 0
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock par value	$ 0.01	$ 0.01
Preferred stock, shares issued	0	0
Common stock, shares authorized	9,000,000	9,000,000
Common Stock, par value	$ 0.01	$ 0.01
Common stock, shares, issued	1,022,970	1,022,970
Common stock, shares, outstanding	1,022,970	1,022,970

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	3 Months Ended		9 Months Ended
Consolidated Statements of Income - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest Income
Loans	$ 1,948,025	$ 1,361,999	$ 5,480,578	$ 3,841,127
Investment securities	85,889	64,916	226,832	198,969
Interest-bearing deposits and other	84,517	78,101	244,524	299,326
Total interest income	2,118,431	1,505,016	5,951,934	4,339,422
Interest Expense
Deposits	466,581	145,976	1,234,385	305,156
Federal Home Loan Bank advances	204,822	22,171	511,233	36,432
Total interest expense	671,403	168,147	1,745,618	341,588
Net Interest Income	1,447,028	1,336,869	4,206,316	3,997,834
Provision for Credit Losses	68,000		68,000
Net Interest Income After Provision for Credit Losses	1,379,028	1,336,869	4,138,316	3,997,834
Noninterest Income
Service fees on deposits	82,240	79,534	242,907	234,078
Late charges and fees on loans	68,847	86,107	151,824	135,595
Gain on sale of loans				7,951
Loan servicing fees	12,615	13,299	36,956	42,322
Gain (loss) on sale of investments		1,037		(7,012)
Gain on sale of foreclosed real estate	15,012		21,012
Bank owned life insurance	15,926	14,737	47,325	43,625
Life insurance death benefits				4,515
Other income	4,834	4,307	14,077	14,833
Total noninterest income	199,474	199,021	514,101	475,907
Noninterest Expense
Salaries and employee benefits	625,670	569,797	1,870,736	1,643,930
Directors fees	19,200	24,375	62,225	67,525
Occupancy and equipment	128,627	113,142	380,524	335,620
Data processing fees	181,418	132,417	456,962	396,859
Franchise taxes	39,268	22,752	100,351	72,294
FDIC insurance premiums	18,576	23,542	54,645	43,580
Professional services	127,640	62,256	348,151	164,666
Deposit account services expense	64,572	60,876	201,588	183,528
Advertising	23,214	27,128	89,634	71,485
Loan expenses	73,456	35,208	196,659	73,756
Other	107,882	103,719	339,174	264,019
Total noninterest expense	1,409,523	1,175,212	4,100,649	3,317,262
Income before income taxes	168,979	360,678	551,768	1,156,479
Provision for income taxes	24,349	72,950	104,511	226,850
Net Income	$ 144,630	$ 287,728	$ 447,257	$ 929,629
Earnings per share, basic	$ 0.15		$ 0.47
Earnings per share, diluted	$ 0.15		$ 0.47

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	3 Months Ended		9 Months Ended
Consolidated Statements of Comprehensive Income - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Consolidated Statements of Comprehensive Income
Net Income (Loss)	$ 144,630	$ 287,728	$ 447,257	$ 929,629
Other comprehensive income (loss):
Net unrealized gains (losses) on available-for-sale securities	36,642	(27,127)	436,148	224,928
Reclassification adjustment for realized (gain) loss on sales of securities		(1,037)		7,012
Tax (expense) benefit	(7,693)	5,914	(91,592)	(48,707)
Other comprehensive income (loss)	28,949	(22,250)	344,556	183,233
Comprehensive income	$ 173,579	$ 265,478	$ 791,813	$ 1,112,862

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($)	Common Stock	Additional Paid-in Capital	Shares Acquired by ESOP	Shares Issued To Irrevocable Trust	Shares Held To Irrevocable Trust	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Accumulated Other Comprehensive Loss	Cumulative Effect, Period of Adoption, Adjustment	Total
Beginning balance at Sep. 30, 2022							$ 14,959,892	$ (903,562)		$ 14,056,330
Net Income (Loss)							929,629			929,629
Other comprehensive income								183,233		183,233
Ending balance at Jun. 30, 2023							15,889,521	(720,329)		15,169,192
Beginning balance at Mar. 31, 2023							15,601,793	(698,079)		14,903,714
Net Income (Loss)							287,728			287,728
Other comprehensive income								(22,250)		(22,250)
Ending balance at Jun. 30, 2023							15,889,521	(720,329)		15,169,192
Beginning balance at Sep. 30, 2023	$ 10,229	$ 8,642,312	$ (818,380)	$ 96,360	$ (96,360)		15,703,856	(860,326)		22,677,691
Net Income (Loss)							447,257			447,257
ESOP shares allocated to participants		16,341	64,051							80,392
Other comprehensive income								344,556		344,556
Ending balance (Accounting Standards Update 2016-13) at Jun. 30, 2024						$ (25,280)			$ (25,280)
Ending balance at Jun. 30, 2024	10,229	8,658,653	(754,329)	96,360	(96,360)		16,125,833	(515,770)		23,524,616
Beginning balance at Mar. 31, 2024	10,229	8,658,653	(754,329)	96,360	(96,360)		15,981,203	(544,719)		23,351,037
Net Income (Loss)							144,630			144,630
Other comprehensive income								28,949		28,949
Ending balance (Accounting Standards Update 2016-13) at Jun. 30, 2024						$ (25,280)			$ (25,280)
Ending balance at Jun. 30, 2024	$ 10,229	$ 8,658,653	$ (754,329)	$ 96,360	$ (96,360)		$ 16,125,833	$ (515,770)		$ 23,524,616

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Operating Activities
Net income	$ 447,257	$ 929,629
Items not requiring (providing) cash:
Depreciation and amortization	275,795	224,828
Amortization of premiums and discounts	12,654	43,927
Amortization of deferred loan fees	(52,540)	(54,133)
Deferred income taxes	(38,757)	135,262
Provision for credit losses	68,000
Gain on sale of loans		(7,951)
Proceeds from sales of loans		286,784
Loans originated for sale	(7,004,062)	(7,185,360)
Loss on sale of investment securities		7,012
Gain on sale of foreclosed real estate	(21,012)
ESOP compensation expense	80,392
Life insurance death benefits		(4,515)
Increase in cash surrender value of bank-owned life insurance	(47,325)	(43,625)
Changes in:
Accrued interest receivable	(140,766)	(46,213)
Other assets	(254,743)	(951,037)
Other liabilities	(316,819)	(4,174)
Net cash used in operating activities	(6,991,926)	(6,669,566)
Investing Activities
Purchases of available-for-sale securities	(1,829,371)	(1,959,701)
Proceeds from sales of available-for-sale securites	0	1,654,776
Proceeds from calls, maturities and paydowns of available-for-sale securities	2,418,427	1,407,420
Principal repayments on securities held-to-maturity	41,984	62,757
Net change in loans	(9,651,800)	(1,754,949)
Purchase of premises and equipment	(412,990)	(146,756)
Purchase of FHLB stock	(586,200)
Proceeds from redemption of FHLB stock-net	256,800	320,000
Proceeds from sale of foreclosed real estate	177,996	18,000
Proceeds from death benefit of life insurance policies		541,987
Net cash (used in) provided by investing activities	(9,585,154)	143,534
Financing Activities
Net increase (decrease) in deposit accounts	9,086,108	(6,829,456)
Proceeds from FHLB advances	62,400,000	3,000,000
Repayment of FHLB advances	(54,400,000)	(1,000,000)
Proceeds from stock subscriptions		6,124,380
Net cash provided by financing activities	17,086,108	1,294,924
Increase (Decrease) in Cash and Cash Equivalents	509,028	(5,231,108)
Cash and Cash Equivalents, Beginning of Period	6,291,336	14,376,718
Cash and Cash Equivalents, End of Period	6,800,364	9,145,610
Supplemental Disclosure of Cash Flow Information
Interest on deposits and borrowings	1,588,650	270,728
Income taxes	398,000	126,809
Supplemental Disclosure of Noncash Investing Activities
Transfers from loans to real estate acquired through foreclosure	$ 102,984	$ 18,000

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	9 Months Ended
	Jun. 30, 2024
Nature of Operations and Summary of Significant Accounting Policies
Nature of Operations and Summary of Significant Accounting Policies	Note 1: Nature of Operations and Summary of Significant Accounting Policies Inclusion of Unaudited Information The financial information included herein as of June 30, 2024, and for the interim three and nine-month periods ended June 30, 2024 and 2023 is unaudited. However, in management’s opinion, the information reflects all normal, recurring adjustments that are necessary for a fair presentation. The results shown for the three and nine-months ended June 30, 2024, are not necessarily indicative of the results to be obtained for the fiscal year ending September 30, 2024. Nature of Operations Mercer Bancorp, Inc. (“Mercer Bancorp” or the “Company”) is a Maryland corporation incorporated on March 7, 2023, to serve as the bank holding company for Mercer Savings Bank (“Mercer Savings” or the “Bank”) in connection with the Bank’s conversion from the mutual form of organization to the stock form of organization (the “Conversion”). The Conversion was completed on July 26, 2023. In connection with the Conversion, Mercer Bancorp acquired Mercer Savings is an Ohio chartered stock bank engaged primarily in the business of providing a variety of deposit and lending services to individual customers in western Ohio. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential and commercial mortgage, agricultural, commercial, home equity lines of credit and installment loans, and indirect automobile loans. Its operations are conducted through its four office locations in Celina, Ft. Recovery and Greenville, Ohio. The Bank faces competition from other financial institutions and is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. Principles of Consolidation The consolidated financial statements as of and for the three and nine months ended June 30, 2024, include the accounts of the Company and the Bank, its wholly-owned subsidiary. All intercompany transactions and balances have been eliminated in consolidation. The financial statements as of and for the three and nine months ended June 30, 2023, represent the Bank only, as the conversion to stock form, including the formation of Mercer Bancorp, was completed on July 26, 2023. References herein to the “Company” for periods prior to the completion of the stock conversion should be deemed to refer to the “Bank.” Revision of Prior Period Financial Statements. The Company has revised the consolidated financial statements as of and for the year ended September 30, 2023. The revisions were considered necessary for two primary reasons, as follows: (1) as a result of the recent discovery of unpaid and unaccrued invoices, for legal services provided during the year ended September 30, 2023. The invoices represented services performed in connection with the Company’s initial public offering completed effective July 27, 2023, as well as for services performed subsequent to completion of the stock offering. (2) the Company has revised the consolidated financial statements to record the effects of irrevocable (Rabbi) trusts that have been established for the benefit of two members of the board of directors. The effect of the revisions to the September 30, 2023 consolidated financial statements related to the legal invoices were as follows: (a) a reduction to additional paid-in capital totaling $81,340, (b) an increase in legal expense of $32,398, (c) a decrease in income tax expense of $6,804, (d) an increase in accrued liabilities of $106,934 and (d) a decrease in retained earnings of $25,594. The effect of the revisions to the September 30, 2023 consolidated financial statements related to the Rabbi trusts included the addition of two offsetting $96,360 line items within the statement of stockholders’ equity, which had no net effect on the total stockholder’s equity as previously reported. There were no changes to the reported assets, liabilities, income or expense and no effect on net income for this revision. The Company has concluded that the effect of the revisions to the consolidated financial statements as of and for the year ended September 30, 2023 were not material. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses, valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, valuation of mortgage servicing rights and deferred tax assets and fair values of financial instruments. Loans Held for Sale Mortgage and indirect auto loans originated and intended for sale in the secondary market are carried at the lower of cost or fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to noninterest income. Gains and losses on loan sales are recorded in noninterest income, and direct loan origination costs and fees are deferred at origination of the loan and are recognized in noninterest income upon sale of the loan. Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balances, adjusted for unearned income, charge-offs, the allowance for credit losses and any unamortized deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. For loans amortized at cost, interest income is accrued based on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, as well as premiums and discounts, are deferred and amortized as a level yield adjustment over the respective term of the loan. For all loan portfolio segments except residential and consumer loans, the Company promptly charges-off loans, or portions thereof, when available information confirms that specific loans are uncollectible based on information that includes, but is not limited to, (1) the deteriorating financial condition of the borrower, (2) declining collateral values, and/or (3) legal action, including bankruptcy, that impairs the borrower’s ability to adequately meet its obligations. For impaired loans that are considered to be solely collateral dependent, a partial charge-off is recorded when a loss has been confirmed by an updated appraisal or other appropriate valuation of the collateral. The Company charges-off loans, or portions thereof, when the Company reasonably determines the amount of the loss. The Bank adheres to delinquency thresholds established by applicable regulatory guidance to determine the charge-off timeframe for these loans. Loans at these delinquency thresholds for which the Company can clearly document that the loan is both well-secured and in the process of collection, such that collection will occur regardless of delinquency status, need not be charged off. For all classes, all interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash basis or cost recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Nonaccrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal. The Company requires a period of satisfactory performance of not less than nine months before returning a nonaccrual loan to accrual status. When cash payments are received on individually evaluated loans, the Company records the payment as interest income unless collection of the remaining recorded principal amount is doubtful, at which time payments are used to reduce the principal balance of the loan. Loans to borrowers experiencing financial difficulties that have been modified recognize interest income on an accrual basis at the renegotiated rate if the loan is in compliance with the modified terms, no principal reduction has been granted and the loan has demonstrated the ability to perform in accordance with the renegotiated terms for a period of at least nine months. Allowance for Credit Losses The Company adopted ASU No. 2016-13 using the modified retrospective method for financial assets measured at amortized cost and off-balance-sheet credit exposures effective October 1, 2023 . Results for the period beginning after October 1, 2023 are presented under ASU No. 2016-13, while prior period amounts are reported in accordance with the previously applicable accounting standards . A vailable-for-sale securities For available for sale securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through income. For securities available - for - sale that do not meet the above criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost and adverse conditions related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of the cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income, net of tax. The Company elected the practical expedient of zero loss estimates for securities issued by U.S. government entities and agencies. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major agencies and have a long history of no credit losses. Management concluded that no allowance for credit losses was required on available-for-sale securities at October 1, 2023 and June 30, 2024. Accrued interest receivable on available-for-sale debt securities totaled $51,204 at June 30, 2024 and is included within accrued interest receivable on the balance sheet. This amount is excluded from the estimate of expected credit losses. Held-to-maturity debt securities are typically classified as nonaccrual when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about the further collectability of principal or interest. When held-to-maturity debt securities are placed on nonaccrual status, unpaid interest credited to income is reversed. Held-to-Maturity Securities The Company measures expected credit losses on held-to-maturity debt securities, which are comprised of U.S. government sponsored enterprise mortgage-back securities and residential mortgage-backed securities. The Company’s residential mortgage-backed security holdings are issued by U.S. government entities and agencies and are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. Management concluded that Accrued interest receivable on held-to-maturity debt securities totaled $502 at June 30, 2024 and is included within accrued interest receivable on the balance sheet. This amount is excluded from the estimate of expected credit losses. Held-to-maturity debt securities are typically classified as nonaccrual when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about the further collectability of principal or interest. When held-to-maturity debt securities are placed on nonaccrual status, unpaid interest credited to income is reversed. Loans The allowance for credit losses (ACL) is a valuation allowance that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Loan losses are charged against the allowance when management believes the collectibility of a loan balance is doubtful. Subsequent recoveries, if any, are credited to the allowance. Management’s determination of the adequacy of the ACL is based on the assessment of the expected credit losses on loans over the expected life of the loan. The ACL is increased by provision expense and decreased by charge-offs, net of recoveries of amounts previously charged off and expected to be charged off. The Company made the policy election to exclude accrued interest receivable on loans from the estimate of credit losses. Management estimates the ACL balance using relevant available information from both internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts. Historical credit loss experience of a defined peer group, by affiliate, paired with economic forecasts provide the basis for the quantitatively modeled estimates of expected credit losses. The Company adjusts its quantitative model, as necessary, to reflect conditions not already considered by the quantitative model. These adjustments are commonly known as the qualitative factors. The ACL is measured on a collective (pool) basis when similar risk characteristics exist. The Company uses the average historical loss method to measure the quantitative portion of the ACL over the forecast and reversion periods. Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not also included in the collective evaluation. When management determines that foreclosure is probable, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. The company made the policy election to exclude accrued interest receivable on loans from the estimate of credit losses. Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals and modifications unless either of the following applies: management has a reasonable expectation at the reporting date that a troubled debt restructuring will be executed with an individual borrower or the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company. Accrued interest receivable on loans totaled $306,257 at June 30, 2024 and is included within accrued interest receivable Unfunded Commitments The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The ACL on unfunded commitments is adjusted through the provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life consistent with the related ACL methodology. Management concluded that Prior to October 1, 2023, the Company calculated the allowance for loan losses under the probable incurred methodology. For periods prior to October 1, 2023 the allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the collectibility of a loan balance is doubtful. Subsequent recoveries, if any, are credited to the allowance. For periods prior to October 1, 2023 the allowance for loan losses is evaluated on a quarterly basis by management and is based upon management’s periodic review of the collectibility of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers nonimpaired loans and is based on historical charge-off experience by segment. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Bank over the prior three years. Management believes the three-year historical loss experience methodology is appropriate in the current economic environment. Other adjustments (qualitative/environmental considerations) for each segment may be added to the allowance for each loan segment after an assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risk rating data. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment history and the probability of collecting scheduled principal and interest payments when due, based on the loan’s current payment status and the borrower’s financial condition, including available sources of cash flows. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is generally measured on a loan-by-loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of the collateral if the loan is collateral dependent. For impaired loans where the Bank utilizes the discounted cash flows to determine the level of impairment, the Bank includes the entire change in the present value of cash flows as a provision for loan losses. The fair values of collateral dependent impaired loans are based on independent appraisals of the collateral. In general, the Bank acquires an updated appraisal upon identification of impairment and annually thereafter for commercial, commercial real estate and multi-family loans. If the most recent appraisal is over a year old, and a new appraisal is not performed, due to lack of comparable values or other reasons, the existing appraisal is utilized and discounted based on the age of the appraisal, condition of the subject property and overall economic conditions. After determining the collateral value as described, the fair value is calculated based on the determined collateral value less selling expenses. The potential for outdated appraisal values is considered in our determination of the allowance for loan losses through our analysis of various trends and conditions including the local economy, trends in charge-offs and delinquencies and the related qualitative adjustments assigned by the Bank. Segments of loans with similar risk characteristics are collectively evaluated for impairment based on the segment’s historical loss experience adjusted for changes in trends, conditions and other relevant factors that affect repayment of the loans. In the course of working with borrowers, the Bank may choose to restructure the contractual terms of certain loans. In this scenario, the Bank attempts to work out an alternative payment schedule with the borrower in order to optimize collectability of the loan. Any loans that are modified are reviewed by the Bank to identify if a troubled debt restructuring (“TDR”) has occurred, which is when, for economic or legal reasons related to a borrower’s financial difficulties, the Bank grants a concession to the borrower that it would not otherwise consider. Terms may be modified to fit the ability of the borrower to repay in line with the borrower’s current financial status, and the restructuring of the loan may include the transfer of assets from the borrower to satisfy the debt, a modification of loan terms or a combination of the two. If such efforts by the Bank do not result in a satisfactory arrangement, the loan is referred to legal counsel, at which time foreclosure proceedings are initiated. At any time prior to a sale of the property at foreclosure, the Bank may terminate foreclosure proceedings if the borrower is able to work out a satisfactory payment plan. It is the Bank’s policy that any restructured loans on nonaccrual status prior to being restructured remain on nonaccrual status until nine months of satisfactory borrower performance, at which time management would consider its return to accrual status. If a loan was accruing at the time of restructuring, the Bank reviews the loan to determine if it is appropriate to continue the accrual of interest on the restructured loan. With regard to determination of the amount of the allowance for loan losses, troubled debt restructured loans are considered to be impaired. As a result, the determination of the amount of impaired loans for each portfolio segment within troubled debt restructurings is the same as detailed previously. Employee Stock Ownership Plan (ESOP) The cost of shares issued to the Employee Stock Ownership Plan (“ESOP”), but not yet allocated to participants, is shown as a reduction of shareholders’ equity. Compensation expense is based on the average fair value of shares as they are committed to be released to participant accounts. Earnings Per Share Basic earnings per share is calculated by dividing net income by the weighted-average number of common shares outstanding during the period. Unallocated common shares held by the ESOP are shown as a reduction in shareholders’ equity and are excluded from weighted-average common shares outstanding for both basic and diluted earnings per share calculations until they are committed to be released. The Company had no dilutive or potentially dilutive securities during the three and nine months ended June 30, 2024. Earnings per share is not applicable to the three and nine months ended June 30, 2023, as the Company completed the stock offering and conversion to stock form on July 26, 2023. Revenue Recognition The Company accounts for certain revenues in accordance with Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers Deposit Services. For deposit-related services, revenue is recognized when performance obligations are satisfied, which is, generally, at a point in time.

Change in Accounting Principle

Change in Accounting Principle	9 Months Ended
Change in Accounting Principle	Jun. 30, 2024
Change in Accounting Principle
Change in Accounting Principle	Note 2: Change in Accounting Principle The FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) The CECL model utilizes a lifetime “expected credit loss” measurement objective for the recognition of credit losses for loans, held-to-maturity securities and other receivables at the time the financial asset is originated or acquired. The expected credit losses are adjusted each period for changes in expected lifetime credit losses. For available-for-sale securities where fair value is less than cost, credit-related impairment, if any, will be recognized in an allowance for credit losses and adjusted each period for changes in expected credit risk. This model replaces the existing impairment models, which generally require that a loss be incurred before it is recognized. The CECL model represents a significant change from existing practice and may result in material changes to the Company’s accounting for financial instruments. The Company adopted the new standard effective October 1, 2023, which resulted in a $32,000 increase to the allowance for credit losses and a charge, net of tax, of $25,280 to retained earnings.

Debt Securities

Debt Securities	9 Months Ended
Debt Securities	Jun. 30, 2024
Debt Securities
Debt Securities	Note 3: Debt Securities The amortized cost and fair values, together with gross unrealized gains and losses of securities are as follows: Gross Gross Amortized Unrealized Unrealized Approximate Cost Gains Losses Fair Value Available-for-sale Securities: June 30, 2024 U.S. Government agencies 3,883,325 15,163 (84,868) 3,813,620 Mortgage-backed Government Sponsored Enterprises (GSEs) 4,168,371 12,649 (312,883) 3,868,137 State and political subdivisions 3,886,444 12,783 (295,717) 3,603,510 $ 11,938,140 $ 40,595 $ (693,468) $ 11,285,267 Gross Gross Amortized Unrealized Unrealized Approximate Cost Gains Losses Fair Value Available-for-sale Securities: September 30, 2023 U.S. Treasury securities $ 999,565 $ — $ (32,845) $ 966,720 U.S. Government agencies 4,009,577 — (184,807) 3,824,770 Mortgage-backed Government Sponsored Enterprises (GSEs) 3,647,020 — (414,789) 3,232,231 State and political subdivisions 3,882,574 — (456,580) 3,425,994 $ 12,538,736 $ — $ (1,089,021) $ 11,449,715 Gross Gross Amortized Unrealized Unrealized Approximate Cost Gains Losses Fair Value Held-to-maturity Securities: June 30, 2024 Mortgage-backed Government Sponsored Enterprises (GSEs) $ 104,193 $ — $ (3,388) $ 100,805 September 30, 2023 Mortgage-backed Government Sponsored Enterprises (GSEs) $ 147,291 $ — $ (4,149) $ 143,142 The Company had no allowance for credit losses on available-for-sale and held-to maturity The amortized cost and fair value of available-for-sale securities at June 30, 2024 by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties: Amortized Fair Cost Value June 30, 2024 Within one year $ 1,000,538 $ 972,480 One to five years 2,462,826 2,387,620 Five to ten years 882,677 897,840 After ten years 3,423,728 3,159,190 7,769,769 7,417,130 Mortgage-backed GSEs 4,168,371 3,868,137 Totals $ 11,938,140 $ 11,285,267 Maturity information for held-to-maturity securities is not presented since expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties The carrying value of securities pledged as collateral, to secure public deposits and for other purposes, was approximately $486,000 and $468,000 at June 30, 2024 and September 30, 2023, respectively. Proceeds from sales of available for sale securities totaled $1,654,776 during the nine months ended June 30, 2023, resulting in gross realized gains of $1,037 and gross realized losses of $8,049. There were no sales of securities during the three-month and nine-month periods ended June 30, 2024. Certain investments in debt securities are reported in the financial statements at an amount less than their historical cost. Total fair value of these investments, comprised of 19 securities at June 30, 2024 and 28 securities at September 30, 2023, was approximately $8,870,000 and $11,450,000 or 79% and 100%, respectively, of the fair value of the Company’s total investment portfolio. These declines primarily resulted from changes in market interest rates. Based on evaluation of available evidence, including recent changes in market interest rates and information obtained from regulatory filings, management believes the declines in fair value for these securities are not credit-related. The following tables show the Company’s investments’ gross unrealized losses and fair value of the Company’s investments with unrealized losses, for which an allowance for credit loss has not been recorded, aggregated by investment class and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2024 and September 30, 2023: June 30, 2024 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Available for sale U.S. Government agencies — — 2,915,780 (84,868) 2,915,780 (84,868) Mortgage-backed Government Sponsored Enterprises (GSEs) 462,842 (1,022) 2,932,871 (311,861) 3,395,713 (312,883) State and political subdivisions 517,370 (2,858) 2,041,445 (292,859) 2,558,815 (295,717) $ 980,212 $ (3,880) $ 7,890,096 $ (689,588) $ 8,870,308 $ (693,468) September 30, 2023 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Available for sale U.S. Treasury securities $ — $ — $ 966,720 $ (32,845) $ 966,720 $ (32,845) U.S. Government agencies — — 3,824,770 (184,807) 3,824,770 (184,807) Mortgage-backed Government Sponsored Enterprises (GSEs) — — 3,232,231 (414,789) 3,232,231 (414,789) State and political subdivisions 1,481,544 (71,136) 1,944,450 (385,444) 3,425,994 (456,580) 1,481,544 (71,136) 9,968,171 (1,017,885) 11,449,715 (1,089,021) Held to maturity Mortgage-backed Government Sponsored Enterprises (GSEs) — — 143,142 (4,149) 143,142 (4,149) Total temporarily impaired securities $ 1,481,544 $ (71,136) $ 10,111,313 $ (1,022,034) $ 11,592,857 $ (1,093,170) U.S. Government Treasuries and Agencies and State and Political Subdivisions Unrealized losses on these securities have not been recognized because the issuers’ bonds are of high credit quality, values have only been impacted by changes in interest rates since the securities were purchased, and the Company has the intent and ability to hold the securities for the foreseeable future. The fair value is expected to recover as the bonds approach the maturity date. Because the decline in market value was attributable to changes in interest rates, and not credit quality, and because the Company typically does not intend to sell the investments and it is not more likely than not the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity, the Company has not established an allowance for credit losses for these securities at June 30, 2024. Mortgage-backed GSEs The unrealized losses on the Company’s investment in residential mortgage-backed government sponsored enterprises were caused primarily by changes in interest rates. The Company expects to recover the amortized cost basis over the term of the securities. Because the decline in market value is attributable to changes in interest rates, and not credit quality, and because the Company typically does not intend to sell the investments and it is not more likely than not the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity, the Company has not established an allowance for credit losses for these securities at June 30, 2024.

Loans and Allowance for Credit

Loans and Allowance for Credit Losses	9 Months Ended
Loans and Allowance for Credit Losses	Jun. 30, 2024
Loans and Allowance for Credit Losses
Loans and Allowance for Credit Losses	Note 4: Loans and Allowance for Credit Losses Categories of loans were as follows: June 30, September 30, 2024 2023 Real estate loans: Residential $ 73,521,479 $ 74,561,278 Multi-family 1,272,725 1,309,586 Agricultural 48,860,392 36,378,192 Commercial 2,119,645 2,311,882 Construction and land 4,632,776 5,082,863 Home equity line of credit (HELOC) 4,776,940 4,708,023 Commercial and industrial 1,747,512 1,801,569 Consumer 6,151,727 7,652,164 Total loans 143,083,196 133,805,557 Less: Undisbursed loans in process 1,949,315 2,578,282 Net deferred loan fees 332,281 325,621 Allowance for credit losses 1,010,227 934,331 Net loans $ 139,791,373 $ 129,967,323 Mortgage loans serviced for others are not included in the accompanying balance sheets. The unpaid principal balances of these loans at June 30, 2024 and September 30, 2023, were approximately $18,362,000 and $19,667,000 respectively. The Company adopted ASU 2016-13 effective October 1, 2023, which required implementation of the current expected credit loss (CECL) model in estimating the allowance for credit losses (ACL) valuation account. The implementation of the new standard resulted in a increase to the overall balance of the Company’s allowance for credit losses (ACL). The following tables present the activity in the allowance for credit losses based on portfolio segment for Three Months Ended June 30, 2024 Provision Balance (credit) Balance April 1, 2024 for credit losses Charge-offs Recoveries June 30, 2024 Real estate loans: Residential $ 743,796 $ 11,201 $ — $ — $ 754,997 Multi-family 2,848 (303) — — 2,545 Agricultural 96,743 978 — — 97,721 Commercial 4,826 (1,587) — — 3,239 Construction and land 53,213 33,904 — — 87,117 Home equity line of credit (HELOC) 15,837 (1,506) — — 14,331 Commercial and industrial 4,098 (1,603) — — 2,495 Consumer 45,343 26,916 (24,787) 310 47,782 Total loans $ 966,704 $ 68,000 $ (24,787) $ 310 $ 1,010,227 Three Months Ended June 30, 2023 Provision Balance (credit) Balance April 1, 2023 for credit losses Charge-offs Recoveries June 30, 2023 Real estate loans: Residential $ 647,131 $ 60,689 $ — $ — $ 707,820 Multi-family 11,438 960 — — 12,398 Agricultural 222,079 (137,737) — — 84,342 Commercial 12,436 (7,365) — — 5,071 Construction and land 35,444 9,827 — — 45,271 Home equity line of credit (HELOC) 10,456 24,104 — — 34,560 Commercial and industrial 8,289 (92) — — 8,197 Consumer 13,572 49,614 — 30 63,216 Total loans $ 960,845 $ — $ — $ 30 $ 960,875 Nine Months Ended June 30, 2024 Effect of Provision Balance adoption of (credit) Balance October 1, 2023 ASC 326 for credit losses Charge-offs Recoveries June 30, 2024 Real estate loans: Residential $ 738,230 $ 32,000 $ (15,233) $ — $ — $ 754,997 Multi-family 12,840 — (10,295) — — 2,545 Agricultural 73,608 — 24,113 — — 97,721 Commercial 4,678 — (1,439) — — 3,239 Construction and land 49,835 — 37,282 — — 87,117 Home equity line of credit (HELOC) 14,289 — 42 — — 14,331 Commercial and industrial 3,645 — (1,150) — — 2,495 Consumer 37,206 — 34,680 (24,787) 683 47,782 Total loans $ 934,331 32,000 $ 68,000 $ (24,787) $ 683 $ 1,010,227 Nine Months Ended June 30, 2023 Provision Balance (credit) Balance October 1, 2022 for credit losses Charge-offs Recoveries June 30, 2023 Real estate loans: Residential $ 623,649 $ 106,980 $ (22,809) $ — $ 707,820 Multi-family 11,008 1,390 — — 12,398 Agricultural 199,011 (114,669) — — 84,342 Commercial 10,801 (5,730) — — 5,071 Construction and land 35,292 9,979 — — 45,271 Home equity line of credit (HELOC) 69,234 (34,674) — — 34,560 Commercial and industrial 12,086 (3,889) — — 8,197 Consumer 22,573 40,613 — 30 63,216 Total loans $ 983,654 $ — $ (22,809) $ 30 $ 960,875 The following tables present the balance in the allowance for credit losses and the recorded investment in loans based on portfolio segment and impairment method as of June 30, 2024 and September 30, 2023: Allowance for credit losses Loans Ending balance, evaluated for impairment Ending balance, evaluated for impairment Individually Collectively Individually Collectively June 30, 2024 Real estate loans: Residential $ — $ 754,997 $ — $ 73,521,479 Multi-family — 2,545 — 1,272,725 Agricultural — 97,721 — 48,860,392 Commercial — 3,239 — 2,119,645 Construction and land — 87,117 — 4,632,776 Home equity line of credit (HELOC) — 14,331 — 4,776,940 Commercial and industrial — 2,495 — 1,747,512 Consumer — 47,782 — 6,151,727 Total loans $ — $ 1,010,227 $ — $ 143,083,196 Allowance for credit losses Loans Ending balance, evaluated for impairment Ending balance, evaluated for impairment Individually Collectively Individually Collectively September 30, 2023 Real estate loans: Residential $ — $ 738,230 $ — $ 74,561,278 Multi-family — 12,840 — 1,309,586 Agricultural — 73,608 — 36,378,192 Commercial — 4,678 — 2,311,882 Construction and land — 49,835 — 5,082,863 Home equity line of credit (HELOC) — 14,289 — 4,708,023 Commercial and industrial — 3,645 — 1,801,569 Consumer — 37,206 — 7,652,164 Total loans $ — $ 934,331 $ — $ 133,805,557 The Company has adopted a standard loan grading system for all loans, as follows: Pass. Special Mention. Substandard. Doubtful. Loss. Risk characteristics of each loan portfolio segment are described as follows: Residential Real Estate These loans include first liens and junior liens on 1-4 family residential real estate (both owner and non-owner occupied). The main risks for these loans are changes in the value of the collateral and stability of the local economic environment and its impact on the borrowers’ employment. Management specifically considers unemployment and changes in real estate values in the Bank’s market area. Multi-family Real Estate These loans include loans on residential real estate secured by property with five or more units. The main risks are changes in the value of the collateral, ability of borrowers to collect rents, vacancy and changes in the tenants’ employment status. Management specifically considers unemployment and changes in real estate values in the Bank’s market area. Agriculture Real Estate These loans are primarily loans on farm ground and include loans secured by residential properties located on farm ground, but agricultural activities may not be the primary occupation of the borrowers. The main risks are changes in the value of the collateral and changes in the economy or borrowers’ business operations. Management specifically considers unemployment and changes in real estate values in the Bank’s market area. Commercial Real Estate These loans are generally secured by owner-occupied commercial real estate including warehouses and offices. The main risks are changes in the value of the collateral and ability of borrowers to successfully conduct their business operations. Management specifically considers unemployment and changes in real estate values in the Bank’s market area. Construction and Land Real Estate These loans include construction loans for 1-4 family residential and commercial properties (both owner and non-owner occupied) and first liens on land. The main risks for construction loans include uncertainties in estimating costs of construction and in estimating the market value of the completed project. The main risks for land loans are changes in the value of the collateral and stability of the local economic environment. Management specifically considers unemployment and changes in real estate values in the Bank’s market area. HELOC These loans are generally secured by owner-occupied 1-4 family residences. The main risks for these loans are changes in the value of the collateral and stability of the local economic environment and its impact on the borrowers’ employment. Management specifically considers unemployment and changes in real estate values in the Bank’s market area. Commercial and Industrial The commercial and industrial portfolio includes loans to commercial customers for use in financing working capital needs, equipment purchases and expansions. The loans in this category are repaid primarily from the cash flow of a borrower’s principal business operation. Credit risk in these loans is driven by creditworthiness of the borrower and the economic conditions that impact the cash flow stability from business operations. Consumer Loans These loans include vehicle loans, share loans and unsecured loans. The main risks for these loans are the depreciation of the collateral values (vehicles) and the financial condition of the borrowers. Major employment changes are specifically considered by management. Information regarding the credit quality indicators most closely monitored for other than residential real estate loans by class as of June 30, 2024 and September 30, 2023, follows: Term Loans Amortized Cost Basis by Origination Year For The Years Ending September 30, 2024 2023 2022 2021 2020 2019 Prior Total June 30, 2024 Commercial real estate Risk Rating Pass $ - $ - $ 754,222 $ 1,176,215 $ - $ - $ 189,208 $ 2,119,645 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ - $ - $ 754,222 $ 1,176,215 $ - $ - $ 189,208 $ 2,119,645 Commercial real estate Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Construction Risk Rating Pass $ 2,984,546 $ 1,426,150 $ 69,077 $ 68,167 $ 50,782 $ 11,995 $ 22,059 $ 4,632,776 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ 2,984,546 $ 1,426,150 $ 69,077 $ 68,167 $ 50,782 $ 11,995 $ 22,059 $ 4,632,776 Construction Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial and industrial Risk Rating Pass $ 123,385 $ 179,534 $ 293,765 $ 199,676 $ 578,434 $ 78,594 $ 294,124 $ 1,747,512 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ 123,385 $ 179,534 $ 293,765 $ 199,676 $ 578,434 $ 78,594 $ 294,124 $ 1,747,512 Commercial and industrial Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Multi Family Risk Rating Pass $ - $ - $ 961,654 $ - $ - $ 173,278 $ 137,793 $ 1,272,725 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ - $ - $ 961,654 $ - $ - $ 173,278 $ 137,793 $ 1,272,725 Multi Family Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Agricultural Risk Rating Pass $ 14,801,145 $ 12,131,562 $ 9,150,462 $ 5,967,103 $ 3,637,109 $ 547,612 $ 2,625,399 $ 48,860,392 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ 14,801,145 $ 12,131,562 $ 9,150,462 $ 5,967,103 $ 3,637,109 $ 547,612 $ 2,625,399 $ 48,860,392 Agricultural Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Total Risk Rating Pass $ 17,909,076 $ 13,737,246 $ 11,229,180 $ 7,411,161 $ 4,266,325 $ 811,479 $ 3,268,583 $ 58,633,050 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ 17,909,076 $ 13,737,246 $ 11,229,180 $ 7,411,161 $ 4,266,325 $ 811,479 $ 3,268,583 $ 58,633,050 Special Pass Mention Substandard Doubtful Total (In thousands) September 30, 2023 Real estate loans: Residential $ 74,083,965 $ — $ 477,313 $ — $ 74,561,278 Multi-family 1,309,586 — — — 1,309,586 Agricultural 36,378,192 — — — 36,378,192 Commercial 2,311,882 — — — 2,311,882 Construction and land 5,082,863 — — — 5,082,863 Home equity line of credit (HELOC) 4,708,023 — — — 4,708,023 Commercial and industrial 1,801,569 — — — 1,801,569 Consumer 7,652,164 — — — 7,652,164 Total loans $ 133,328,244 $ — $ 477,313 $ — $ 133,805,557 The Company monitors the credit risk profile by payment activity for residential and consumer loan classes. Loans past due 90 days or more and loans on nonaccrual status are considered nonperforming. Nonperforming loans are reviewed monthly. Term Loans Amortized Cost Basis by Origination Year For The Years Ending September 30, 2024 2023 2022 2021 2020 2019 Prior Total June 30, 2024 Residential real estate Payment Performance Performing $ 6,145,014 $ 4,829,549 $ 15,037,019 $ 19,775,404 $ 6,821,556 $ 2,536,969 $ 18,135,252 $ 73,280,763 Nonperforming - - - - - 102,313 138,403 240,716 Total $ 6,145,014 $ 4,829,549 $ 15,037,019 $ 19,775,404 $ 6,821,556 $ 2,639,282 $ 18,273,655 $ 73,521,479 Residential real estate Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Home equity Payment Performance Performing $ 494,017 $ 932,465 $ 1,183,988 $ 822,954 $ 481,423 $ 298,287 $ 563,806 $ 4,776,940 Nonperforming - - - - - - - - Total $ 494,017 $ 932,465 $ 1,183,988 $ 822,954 $ 481,423 $ 298,287 $ 563,806 $ 4,776,940 Home equity Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Consumer Payment Performance Performing $ 204,044 $ 5,494,987 $ 168,938 $ 60,555 $ 57,930 $ 34,500 $ 15,443 $ 6,036,397 Nonperforming 115,330 - - - - - - 115,330 Total $ 319,374 $ 5,494,987 $ 168,938 $ 60,555 $ 57,930 $ 34,500 $ 15,443 $ 6,151,727 Consumer Current period gross charge-offs $ - $ 24,787 $ - $ - $ - $ - $ - $ 24,787 Total Payment Performance Performing $ 6,843,075 $ 11,257,001 $ 16,389,945 $ 20,658,913 $ 7,360,909 $ 2,869,756 $ 18,714,501 $ 84,094,100 Nonperforming 115,330 - - - - 102,313 138,403 356,046 Total $ 6,958,405 $ 11,257,001 $ 16,389,945 $ 20,658,913 $ 7,360,909 $ 2,972,069 $ 18,852,904 $ 84,450,146 The Company evaluates the loan risk grading system definitions on an ongoing basis. No significant changes were made during the nine months ended June 30, 2024 or the year ended September 30, 2023. The following tables present the Bank’s loan portfolio aging analysis of the recorded investment in loans as of June 30, 2024 and September 30, 2023: June 30, 2024 Greater Than 30-59 Days 60-89 Days 90 Days Total Total Loans Past Due Past Due Past Due Past Due Current Receivable Real estate loans: Residential $ 210,682 $ 48,274 $ 240,716 $ 499,672 $ 73,021,807 $ 73,521,479 Multi-family — — — — 1,272,725 1,272,725 Agricultural 479,200 — — 479,200 48,381,192 48,860,392 Commercial — — — — 2,119,645 2,119,645 Construction and land 50,782 — — 50,782 4,581,994 4,632,776 Home equity line of credit (HELOC) — — — — 4,776,940 4,776,940 Commercial and industrial — 17,431 — 17,431 1,730,081 1,747,512 Consumer 218,443 21,841 115,330 355,614 5,796,113 6,151,727 Total $ 959,107 $ 87,546 $ 356,046 $ 1,402,699 $ 141,680,497 $ 143,083,196 September 30, 2023 Greater Than 30-59 Days 60-89 Days 90 Days Total Total Loans Past Due Past Due Past Due Past Due Current Receivable Real estate loans: Residential $ 482,844 $ 332,929 $ 477,313 $ 1,293,086 $ 73,268,192 $ 74,561,278 Multi-family — — — — 1,309,586 1,309,586 Agricultural — — — — 36,378,192 36,378,192 Commercial — — — — 2,311,882 2,311,882 Construction and land — — — — 5,082,863 5,082,863 Home equity line of credit (HELOC) — — — — 4,708,023 4,708,023 Commercial and industrial — — — — 1,801,569 1,801,569 Consumer 5,653 20,831 — 26,484 7,625,680 7,652,164 Total $ 488,497 $ 353,760 $ 477,313 $ 1,319,570 $ 132,485,987 $ 133,805,557 The Company had no loans loans The Company had no loans greater than 90 days past due and accruing at June 30, 2024 and September 30, 2023. The Company’s total nonaccrual loans, June 30, September 30, 2024 2023 Residential real estate loans $ 240,716 $ 477,313 Consumer 115,330 — $ 356,046 $ 477,313 There were no loans modified for borrowers experiencing financial difficulty during the nine months ended June 30, 2024 and 2023 and during the year ended September 30, 2023. There were no loans modified for borrowers experiencing financial difficulty in the past 12 months that subsequently defaulted during the nine months ended June 30, 2024 and 2023 and during the year ended September 30, 2023.

Regulatory Matters

Regulatory Matters	9 Months Ended
Regulatory Matters	Jun. 30, 2024
Regulatory Matters
Regulatory Matters	Note 5: Regulatory Matters The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance-sheet items as calculated under U.S. GAAP reporting requirements and regulatory capital standards. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Furthermore, the Bank’s regulators could require adjustments to regulatory capital not reflected in these financial statements. Quantitative measures established by regulatory reporting standards to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below) of total and Tier I capital (as defined) to risk-weighted assets (as defined), common equity Tier I capital (as defined) to total risk-weighted assets (as defined) and of Tier I capital (as defined) to average assets (as defined). Management believes, as of June 30, 2024, that the Bank met all capital adequacy requirements to which it is subject. As of June 30, 2024 the most recent notification from the regulators categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum total risk-based capital, Tier I risk-based capital, common equity Tier I risk-based capital and Tier I leverage ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed the Bank’s category. The Bank’s actual and required capital amounts and ratios are as follows (table amounts in thousands): To Be Well Capitalized Under Prompt Corrective For Capital Adequacy Action Actual Purposes Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of June 30, 2024 Total Capital (to Risk-Weighted Assets) $ 21,599 16.7 % $ 10,337 8.0 % $ 12,921 10.0 % Tier 1 Capital (to Risk-Weighted Assets) $ 20,589 15.9 % $ 7,753 6.0 % $ 10,337 8.0 % Common Equity Tier I Capital (to Risk-Weighted Assets) $ 20,589 15.9 % $ 5,814 4.5 % $ 8,399 6.5 % Tier I Capital (to Average Total Assets) $ 20,589 12.1 % $ 5,168 4.0 % $ 8,537 5.0 % As of September 30, 2023 Total Capital (to Risk-Weighted Assets) $ 21,079 19.0 % $ 8,897 8.0 % $ 11,121 10.0 % Tier 1 Capital (to Risk-Weighted Assets) $ 20,145 18.1 % $ 6,672 6.0 % $ 8,897 8.0 % Common Equity Tier I Capital (to Risk-Weighted Assets) $ 20,145 18.1 % $ 5,004 4.5 % $ 7,228 6.5 % Tier I Capital (to Average Total Assets) $ 20,145 13.1 % $ 6,158 4.0 % $ 7,697 5.0 %

Disclosures about Fair Value of

Disclosures about Fair Value of Assets and Liabilities	9 Months Ended
Disclosures about Fair Value of Assets and Liabilities	Jun. 30, 2024
Disclosures about Fair Value of Assets and Liabilities
Disclosures about Fair Value of Assets and Liabilities	Note 6: Fair value is the exchange price that would be received to sell 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 at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: Level 1 Level 2 Level 3 Recurring Measurements The following table presents the fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at June 30, 2024 and September 30, 2023: Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Observable Unobservable Fair Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) June 30, 2024 U.S. Government agencies $ 3,813,620 $ — $ 3,813,620 $ — Mortgage-backed Government Sponsored Enterprises (GSEs) 3,868,137 — 3,868,137 — State and political subdivisions 3,603,510 — 3,603,510 — September 30, 2023 U.S. Treasury securities $ 966,720 $ 966,720 $ — $ — U.S. Government agencies 3,824,770 — 3,824,770 — Mortgage-backed Government Sponsored Enterprises (GSEs) 3,232,231 — 3,232,231 — State and political subdivisions 3,425,994 — 3,425,994 — Following is a description of the valuation methodologies used for assets measured at fair value on a recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. There are no liabilities measured at fair value on a recurring basis. There have been no significant changes in the valuation techniques during the nine months ended June 30, 2024 and the year ended September 30, 2023. Available-for-sale Securities Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows. Such securities are classified in Level 2 of the valuation hierarchy. In certain cases where Level 1 or Level 2 are not available, securities are classified within Level 3 of the hierarchy. The Bank had no Level 3 securities. Nonrecurring Measurements The Company had no assets or liabilities measured at fair value on a nonrecurring basis at June 30, 2024 and September 30, 2023. The estimated fair values of the Company’s financial instruments not carried at fair value on the balance sheets are as follows: Carrying Fair Fair Value Measurements Using Value Value Level 1 Level 2 Level 3 June 30, 2024 Financial assets: Cash and cash equivalents $ 6,800,364 $ 6,800,364 $ 6,800,364 $ — $ — Interest-bearing time deposits 100,000 100,000 100,000 — — Loans held for sale 9,775,773 9,952,787 — — 9,952,787 Loans, net 139,791,373 130,476,128 — — 130,476,128 FHLB Stock 1,698,300 1,698,300 — 1,698,300 — Bank owned life insurance 1,817,506 1,817,506 1,817,506 — — Accrued interest receivable 597,633 597,633 597,633 — — Financial liabilities: Deposits 131,901,856 133,277,895 93,333,895 — 39,944,000 FHLB advances - long term 16,000,000 15,984,800 — 15,984,800 — FHLB advances - short term 4,000,000 3,996,200 — 3,996,200 — Accrued interest payable 226,402 226,402 226,402 — — September 30, 2023 Financial assets: Cash and cash equivalents $ 6,291,336 $ 6,291,336 $ 6,291,336 $ — $ — Interest-bearing time deposits 100,000 100,000 100,000 — — Loans held for sale 3,094,405 3,096,000 — — 3,096,000 Loans, net 129,967,323 115,340,546 — — 115,340,546 FHLB Stock 1,368,900 1,368,900 — 1,368,900 — Bank owned life insurance 1,783,880 1,783,880 1,783,880 — — Accrued interest receivable 456,867 456,867 456,867 — — Financial liabilities: Deposits 122,815,748 123,426,791 90,497,791 — 32,929,000 FHLB advances 12,000,000 12,001,000 — 12,001,000 — Accrued interest payable 69,434 69,434 69,434 — — Limitations:

Commitments and Credit Risks

Commitments and Credit Risks	9 Months Ended
Commitments and Credit Risks	Jun. 30, 2024
Commitments and Credit Risks
Commitments and Credit Risks	Note 7: Commitments and Credit Risks Commitments to originate loans are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since a portion of the commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Each customer’s creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the counterparty. Collateral held varies, but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential real estate. Lines of credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Lines of credit generally have fixed expiration dates. Since a portion of the line may expire without being drawn upon, the total unused lines do not necessarily represent future cash requirements. Each customer’s creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential real estate. Management uses the same credit policies in granting lines of credit as it does for on-balance-sheet instruments. Commitments outstanding were as follows: June 30, September 30, 2024 2023 Commitments to originate loans $ 3,948,191 $ 2,717,974 Undisbursed balance of loans closed 9,479,666 9,172,548 Total $ 13,427,857 $ 11,890,522

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Jun. 30, 2024
Earnings Per Share
Earnings Per Share	Note 8 - Earnings Per Share Basic earnings per share is calculated by dividing net income by the weighted-average number of common shares outstanding during the period. Unallocated common shares held by the Employee Stock Ownership Plan (“ESOP”) are not included in the weighted-average number of common shares outstanding for purposes of calculating basic net income per common share until they are committed to be released. Earnings per share is not applicable to the three and nine months ended June 30, 2023, as the Company completed the stock offering and conversion to stock form on July 26, 2023. The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended Nine Months Ended June 30, June 30, 2024 2024 Net income $ 144,630 $ 447,257 Weighted-average shares issued 1,022,970 1,022,970 Less weighted-average unearned ESOP shares (76,382) (78,194) Weighted-average shares outstanding 946,588 944,776 Earnings per share - basic and diluted $ 0.15 $ 0.47

Conversion to Stock Form

Conversion to Stock Form	9 Months Ended
Conversion to Stock Form	Jun. 30, 2024
Conversion to Stock Form
Conversion to Stock Form	Note 9: On March 3, 2023, the Board of Directors of the Bank adopted a plan of conversion (Plan). The Plan was subject to the approval of the Federal Deposit Insurance Corporation and the State of Ohio Division of Financial Institutions and was approved by the affirmative vote of a majority of the total votes eligible to be cast by the voting members of the Bank at a special meeting. The Plan set forth that the Bank proposed to convert into a stock bank structure with the establishment of a stock holding company (Mercer Bancorp, Inc.), as parent of the Bank. The Bank converted to the stock form of ownership, followed by the issuance of all of the Bank’s outstanding stock to Mercer Bancorp, Inc. Pursuant to the Plan, the Bank determined the total offering value and number of shares of common stock based upon an independent appraiser’s valuation. The stock was priced at per share. In addition, the Bank’s Board of Directors adopted an employee stock ownership plan (ESOP) which subscribed for of the common stock sold in the offering. Mercer Bancorp is organized as a corporation under the laws of the State of Maryland and owns all of the outstanding common stock of the Bank upon completion of the conversion. The costs of issuing the common stock was deducted from the sales proceeds of the offering. At the completion of the conversion to stock form, the Bank established a liquidation account in the amount of retained earnings contained in the final prospectus. The liquidation account will be maintained for the benefit of eligible savings account holders who maintain deposit accounts in the Bank after conversion. The conversion was accounted for as a change in corporate form with the historic basis of the Bank’s assets, liabilities and equity unchanged as a result. Mercer Bancorp, Inc. is an emerging growth company, and, for as long as it continues to be an emerging growth company, it may choose to take advantage of exemptions from various reporting requirements applicable to other public companies but not to “emerging growth companies.” Mercer Bancorp intends to use the extended transition period to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. Accordingly, its financial statements may not be comparable to the financial statements of public companies that comply with such new or revised accounting standards.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 144,630	$ 287,728	$ 447,257	$ 929,629

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2024
Nature of Operations and Summary of Significant Accounting Policies
Nature of Operations	Nature of Operations Mercer Bancorp, Inc. (“Mercer Bancorp” or the “Company”) is a Maryland corporation incorporated on March 7, 2023, to serve as the bank holding company for Mercer Savings Bank (“Mercer Savings” or the “Bank”) in connection with the Bank’s conversion from the mutual form of organization to the stock form of organization (the “Conversion”). The Conversion was completed on July 26, 2023. In connection with the Conversion, Mercer Bancorp acquired Mercer Savings is an Ohio chartered stock bank engaged primarily in the business of providing a variety of deposit and lending services to individual customers in western Ohio. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential and commercial mortgage, agricultural, commercial, home equity lines of credit and installment loans, and indirect automobile loans. Its operations are conducted through its four office locations in Celina, Ft. Recovery and Greenville, Ohio. The Bank faces competition from other financial institutions and is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements as of and for the three and nine months ended June 30, 2024, include the accounts of the Company and the Bank, its wholly-owned subsidiary. All intercompany transactions and balances have been eliminated in consolidation. The financial statements as of and for the three and nine months ended June 30, 2023, represent the Bank only, as the conversion to stock form, including the formation of Mercer Bancorp, was completed on July 26, 2023. References herein to the “Company” for periods prior to the completion of the stock conversion should be deemed to refer to the “Bank.”
Revision of Prior Period Financial Statements	Revision of Prior Period Financial Statements. The Company has revised the consolidated financial statements as of and for the year ended September 30, 2023. The revisions were considered necessary for two primary reasons, as follows: (1) as a result of the recent discovery of unpaid and unaccrued invoices, for legal services provided during the year ended September 30, 2023. The invoices represented services performed in connection with the Company’s initial public offering completed effective July 27, 2023, as well as for services performed subsequent to completion of the stock offering. (2) the Company has revised the consolidated financial statements to record the effects of irrevocable (Rabbi) trusts that have been established for the benefit of two members of the board of directors. The effect of the revisions to the September 30, 2023 consolidated financial statements related to the legal invoices were as follows: (a) a reduction to additional paid-in capital totaling $81,340, (b) an increase in legal expense of $32,398, (c) a decrease in income tax expense of $6,804, (d) an increase in accrued liabilities of $106,934 and (d) a decrease in retained earnings of $25,594. The effect of the revisions to the September 30, 2023 consolidated financial statements related to the Rabbi trusts included the addition of two offsetting $96,360 line items within the statement of stockholders’ equity, which had no net effect on the total stockholder’s equity as previously reported. There were no changes to the reported assets, liabilities, income or expense and no effect on net income for this revision. The Company has concluded that the effect of the revisions to the consolidated financial statements as of and for the year ended September 30, 2023 were not material.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses, valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, valuation of mortgage servicing rights and deferred tax assets and fair values of financial instruments.
Loans Held for Sale	Loans Held for Sale Mortgage and indirect auto loans originated and intended for sale in the secondary market are carried at the lower of cost or fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to noninterest income. Gains and losses on loan sales are recorded in noninterest income, and direct loan origination costs and fees are deferred at origination of the loan and are recognized in noninterest income upon sale of the loan.
Loans	Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balances, adjusted for unearned income, charge-offs, the allowance for credit losses and any unamortized deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. For loans amortized at cost, interest income is accrued based on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, as well as premiums and discounts, are deferred and amortized as a level yield adjustment over the respective term of the loan. For all loan portfolio segments except residential and consumer loans, the Company promptly charges-off loans, or portions thereof, when available information confirms that specific loans are uncollectible based on information that includes, but is not limited to, (1) the deteriorating financial condition of the borrower, (2) declining collateral values, and/or (3) legal action, including bankruptcy, that impairs the borrower’s ability to adequately meet its obligations. For impaired loans that are considered to be solely collateral dependent, a partial charge-off is recorded when a loss has been confirmed by an updated appraisal or other appropriate valuation of the collateral. The Company charges-off loans, or portions thereof, when the Company reasonably determines the amount of the loss. The Bank adheres to delinquency thresholds established by applicable regulatory guidance to determine the charge-off timeframe for these loans. Loans at these delinquency thresholds for which the Company can clearly document that the loan is both well-secured and in the process of collection, such that collection will occur regardless of delinquency status, need not be charged off. For all classes, all interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash basis or cost recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Nonaccrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal. The Company requires a period of satisfactory performance of not less than nine months before returning a nonaccrual loan to accrual status. When cash payments are received on individually evaluated loans, the Company records the payment as interest income unless collection of the remaining recorded principal amount is doubtful, at which time payments are used to reduce the principal balance of the loan. Loans to borrowers experiencing financial difficulties that have been modified recognize interest income on an accrual basis at the renegotiated rate if the loan is in compliance with the modified terms, no principal reduction has been granted and the loan has demonstrated the ability to perform in accordance with the renegotiated terms for a period of at least nine months.
Allowance for Credit Losses	Allowance for Credit Losses The Company adopted ASU No. 2016-13 using the modified retrospective method for financial assets measured at amortized cost and off-balance-sheet credit exposures effective October 1, 2023 . Results for the period beginning after October 1, 2023 are presented under ASU No. 2016-13, while prior period amounts are reported in accordance with the previously applicable accounting standards . A vailable-for-sale securities For available for sale securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through income. For securities available - for - sale that do not meet the above criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost and adverse conditions related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of the cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income, net of tax. The Company elected the practical expedient of zero loss estimates for securities issued by U.S. government entities and agencies. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major agencies and have a long history of no credit losses. Management concluded that no allowance for credit losses was required on available-for-sale securities at October 1, 2023 and June 30, 2024. Accrued interest receivable on available-for-sale debt securities totaled $51,204 at June 30, 2024 and is included within accrued interest receivable on the balance sheet. This amount is excluded from the estimate of expected credit losses. Held-to-maturity debt securities are typically classified as nonaccrual when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about the further collectability of principal or interest. When held-to-maturity debt securities are placed on nonaccrual status, unpaid interest credited to income is reversed. Held-to-Maturity Securities The Company measures expected credit losses on held-to-maturity debt securities, which are comprised of U.S. government sponsored enterprise mortgage-back securities and residential mortgage-backed securities. The Company’s residential mortgage-backed security holdings are issued by U.S. government entities and agencies and are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. Management concluded that Accrued interest receivable on held-to-maturity debt securities totaled $502 at June 30, 2024 and is included within accrued interest receivable on the balance sheet. This amount is excluded from the estimate of expected credit losses. Held-to-maturity debt securities are typically classified as nonaccrual when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about the further collectability of principal or interest. When held-to-maturity debt securities are placed on nonaccrual status, unpaid interest credited to income is reversed. Loans The allowance for credit losses (ACL) is a valuation allowance that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Loan losses are charged against the allowance when management believes the collectibility of a loan balance is doubtful. Subsequent recoveries, if any, are credited to the allowance. Management’s determination of the adequacy of the ACL is based on the assessment of the expected credit losses on loans over the expected life of the loan. The ACL is increased by provision expense and decreased by charge-offs, net of recoveries of amounts previously charged off and expected to be charged off. The Company made the policy election to exclude accrued interest receivable on loans from the estimate of credit losses. Management estimates the ACL balance using relevant available information from both internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts. Historical credit loss experience of a defined peer group, by affiliate, paired with economic forecasts provide the basis for the quantitatively modeled estimates of expected credit losses. The Company adjusts its quantitative model, as necessary, to reflect conditions not already considered by the quantitative model. These adjustments are commonly known as the qualitative factors. The ACL is measured on a collective (pool) basis when similar risk characteristics exist. The Company uses the average historical loss method to measure the quantitative portion of the ACL over the forecast and reversion periods. Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not also included in the collective evaluation. When management determines that foreclosure is probable, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. The company made the policy election to exclude accrued interest receivable on loans from the estimate of credit losses. Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals and modifications unless either of the following applies: management has a reasonable expectation at the reporting date that a troubled debt restructuring will be executed with an individual borrower or the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company. Accrued interest receivable on loans totaled $306,257 at June 30, 2024 and is included within accrued interest receivable Unfunded Commitments The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The ACL on unfunded commitments is adjusted through the provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life consistent with the related ACL methodology. Management concluded that Prior to October 1, 2023, the Company calculated the allowance for loan losses under the probable incurred methodology. For periods prior to October 1, 2023 the allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the collectibility of a loan balance is doubtful. Subsequent recoveries, if any, are credited to the allowance. For periods prior to October 1, 2023 the allowance for loan losses is evaluated on a quarterly basis by management and is based upon management’s periodic review of the collectibility of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers nonimpaired loans and is based on historical charge-off experience by segment. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Bank over the prior three years. Management believes the three-year historical loss experience methodology is appropriate in the current economic environment. Other adjustments (qualitative/environmental considerations) for each segment may be added to the allowance for each loan segment after an assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risk rating data. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment history and the probability of collecting scheduled principal and interest payments when due, based on the loan’s current payment status and the borrower’s financial condition, including available sources of cash flows. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is generally measured on a loan-by-loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of the collateral if the loan is collateral dependent. For impaired loans where the Bank utilizes the discounted cash flows to determine the level of impairment, the Bank includes the entire change in the present value of cash flows as a provision for loan losses. The fair values of collateral dependent impaired loans are based on independent appraisals of the collateral. In general, the Bank acquires an updated appraisal upon identification of impairment and annually thereafter for commercial, commercial real estate and multi-family loans. If the most recent appraisal is over a year old, and a new appraisal is not performed, due to lack of comparable values or other reasons, the existing appraisal is utilized and discounted based on the age of the appraisal, condition of the subject property and overall economic conditions. After determining the collateral value as described, the fair value is calculated based on the determined collateral value less selling expenses. The potential for outdated appraisal values is considered in our determination of the allowance for loan losses through our analysis of various trends and conditions including the local economy, trends in charge-offs and delinquencies and the related qualitative adjustments assigned by the Bank. Segments of loans with similar risk characteristics are collectively evaluated for impairment based on the segment’s historical loss experience adjusted for changes in trends, conditions and other relevant factors that affect repayment of the loans. In the course of working with borrowers, the Bank may choose to restructure the contractual terms of certain loans. In this scenario, the Bank attempts to work out an alternative payment schedule with the borrower in order to optimize collectability of the loan. Any loans that are modified are reviewed by the Bank to identify if a troubled debt restructuring (“TDR”) has occurred, which is when, for economic or legal reasons related to a borrower’s financial difficulties, the Bank grants a concession to the borrower that it would not otherwise consider. Terms may be modified to fit the ability of the borrower to repay in line with the borrower’s current financial status, and the restructuring of the loan may include the transfer of assets from the borrower to satisfy the debt, a modification of loan terms or a combination of the two. If such efforts by the Bank do not result in a satisfactory arrangement, the loan is referred to legal counsel, at which time foreclosure proceedings are initiated. At any time prior to a sale of the property at foreclosure, the Bank may terminate foreclosure proceedings if the borrower is able to work out a satisfactory payment plan. It is the Bank’s policy that any restructured loans on nonaccrual status prior to being restructured remain on nonaccrual status until nine months of satisfactory borrower performance, at which time management would consider its return to accrual status. If a loan was accruing at the time of restructuring, the Bank reviews the loan to determine if it is appropriate to continue the accrual of interest on the restructured loan. With regard to determination of the amount of the allowance for loan losses, troubled debt restructured loans are considered to be impaired. As a result, the determination of the amount of impaired loans for each portfolio segment within troubled debt restructurings is the same as detailed previously.
Employee Stock Ownership Plan (ESOP)	Employee Stock Ownership Plan (ESOP) The cost of shares issued to the Employee Stock Ownership Plan (“ESOP”), but not yet allocated to participants, is shown as a reduction of shareholders’ equity. Compensation expense is based on the average fair value of shares as they are committed to be released to participant accounts.
Earnings Per Share	Earnings Per Share Basic earnings per share is calculated by dividing net income by the weighted-average number of common shares outstanding during the period. Unallocated common shares held by the ESOP are shown as a reduction in shareholders’ equity and are excluded from weighted-average common shares outstanding for both basic and diluted earnings per share calculations until they are committed to be released. The Company had no dilutive or potentially dilutive securities during the three and nine months ended June 30, 2024. Earnings per share is not applicable to the three and nine months ended June 30, 2023, as the Company completed the stock offering and conversion to stock form on July 26, 2023.
Revenue Recognition	Revenue Recognition The Company accounts for certain revenues in accordance with Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers Deposit Services. For deposit-related services, revenue is recognized when performance obligations are satisfied, which is, generally, at a point in time.

Debt Securities (Tables)

Debt Securities (Tables)	9 Months Ended
Debt Securities (Tables)	Jun. 30, 2024
Debt Securities
Schedule of available-for-sale securities for amortized cost and fair values, together with gross unrealized gains and losses of securities	Gross Gross Amortized Unrealized Unrealized Approximate Cost Gains Losses Fair Value Available-for-sale Securities: June 30, 2024 U.S. Government agencies 3,883,325 15,163 (84,868) 3,813,620 Mortgage-backed Government Sponsored Enterprises (GSEs) 4,168,371 12,649 (312,883) 3,868,137 State and political subdivisions 3,886,444 12,783 (295,717) 3,603,510 $ 11,938,140 $ 40,595 $ (693,468) $ 11,285,267 Gross Gross Amortized Unrealized Unrealized Approximate Cost Gains Losses Fair Value Available-for-sale Securities: September 30, 2023 U.S. Treasury securities $ 999,565 $ — $ (32,845) $ 966,720 U.S. Government agencies 4,009,577 — (184,807) 3,824,770 Mortgage-backed Government Sponsored Enterprises (GSEs) 3,647,020 — (414,789) 3,232,231 State and political subdivisions 3,882,574 — (456,580) 3,425,994 $ 12,538,736 $ — $ (1,089,021) $ 11,449,715
Schedule of held-to-maturity for amortized cost and fair values, together with gross unrealized gains and losses of securities	Gross Gross Amortized Unrealized Unrealized Approximate Cost Gains Losses Fair Value Held-to-maturity Securities: June 30, 2024 Mortgage-backed Government Sponsored Enterprises (GSEs) $ 104,193 $ — $ (3,388) $ 100,805 September 30, 2023 Mortgage-backed Government Sponsored Enterprises (GSEs) $ 147,291 $ — $ (4,149) $ 143,142
Schedule of amortized cost and fair value of available-for-sale securities by contractual maturity	Amortized Fair Cost Value June 30, 2024 Within one year $ 1,000,538 $ 972,480 One to five years 2,462,826 2,387,620 Five to ten years 882,677 897,840 After ten years 3,423,728 3,159,190 7,769,769 7,417,130 Mortgage-backed GSEs 4,168,371 3,868,137 Totals $ 11,938,140 $ 11,285,267
Schedule of gross unrealized losses and fair value of investments with unrealized losses, aggregated by investment class and length of time that individual securities have been in a continuous unrealized loss position	June 30, 2024 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Available for sale U.S. Government agencies — — 2,915,780 (84,868) 2,915,780 (84,868) Mortgage-backed Government Sponsored Enterprises (GSEs) 462,842 (1,022) 2,932,871 (311,861) 3,395,713 (312,883) State and political subdivisions 517,370 (2,858) 2,041,445 (292,859) 2,558,815 (295,717) $ 980,212 $ (3,880) $ 7,890,096 $ (689,588) $ 8,870,308 $ (693,468) September 30, 2023 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Available for sale U.S. Treasury securities $ — $ — $ 966,720 $ (32,845) $ 966,720 $ (32,845) U.S. Government agencies — — 3,824,770 (184,807) 3,824,770 (184,807) Mortgage-backed Government Sponsored Enterprises (GSEs) — — 3,232,231 (414,789) 3,232,231 (414,789) State and political subdivisions 1,481,544 (71,136) 1,944,450 (385,444) 3,425,994 (456,580) 1,481,544 (71,136) 9,968,171 (1,017,885) 11,449,715 (1,089,021) Held to maturity Mortgage-backed Government Sponsored Enterprises (GSEs) — — 143,142 (4,149) 143,142 (4,149) Total temporarily impaired securities $ 1,481,544 $ (71,136) $ 10,111,313 $ (1,022,034) $ 11,592,857 $ (1,093,170)

Loans and Allowance for Credi_2

Loans and Allowance for Credit Losses (Tables)	9 Months Ended
Loans and Allowance for Credit Losses (Tables)	Jun. 30, 2024
Loans and Allowance for Credit Losses
Schedule of categories of loans	June 30, September 30, 2024 2023 Real estate loans: Residential $ 73,521,479 $ 74,561,278 Multi-family 1,272,725 1,309,586 Agricultural 48,860,392 36,378,192 Commercial 2,119,645 2,311,882 Construction and land 4,632,776 5,082,863 Home equity line of credit (HELOC) 4,776,940 4,708,023 Commercial and industrial 1,747,512 1,801,569 Consumer 6,151,727 7,652,164 Total loans 143,083,196 133,805,557 Less: Undisbursed loans in process 1,949,315 2,578,282 Net deferred loan fees 332,281 325,621 Allowance for credit losses 1,010,227 934,331 Net loans $ 139,791,373 $ 129,967,323
Schedule of activity in the allowance for loan losses based on portfolio segment	Three Months Ended June 30, 2024 Provision Balance (credit) Balance April 1, 2024 for credit losses Charge-offs Recoveries June 30, 2024 Real estate loans: Residential $ 743,796 $ 11,201 $ — $ — $ 754,997 Multi-family 2,848 (303) — — 2,545 Agricultural 96,743 978 — — 97,721 Commercial 4,826 (1,587) — — 3,239 Construction and land 53,213 33,904 — — 87,117 Home equity line of credit (HELOC) 15,837 (1,506) — — 14,331 Commercial and industrial 4,098 (1,603) — — 2,495 Consumer 45,343 26,916 (24,787) 310 47,782 Total loans $ 966,704 $ 68,000 $ (24,787) $ 310 $ 1,010,227 Three Months Ended June 30, 2023 Provision Balance (credit) Balance April 1, 2023 for credit losses Charge-offs Recoveries June 30, 2023 Real estate loans: Residential $ 647,131 $ 60,689 $ — $ — $ 707,820 Multi-family 11,438 960 — — 12,398 Agricultural 222,079 (137,737) — — 84,342 Commercial 12,436 (7,365) — — 5,071 Construction and land 35,444 9,827 — — 45,271 Home equity line of credit (HELOC) 10,456 24,104 — — 34,560 Commercial and industrial 8,289 (92) — — 8,197 Consumer 13,572 49,614 — 30 63,216 Total loans $ 960,845 $ — $ — $ 30 $ 960,875 Nine Months Ended June 30, 2024 Effect of Provision Balance adoption of (credit) Balance October 1, 2023 ASC 326 for credit losses Charge-offs Recoveries June 30, 2024 Real estate loans: Residential $ 738,230 $ 32,000 $ (15,233) $ — $ — $ 754,997 Multi-family 12,840 — (10,295) — — 2,545 Agricultural 73,608 — 24,113 — — 97,721 Commercial 4,678 — (1,439) — — 3,239 Construction and land 49,835 — 37,282 — — 87,117 Home equity line of credit (HELOC) 14,289 — 42 — — 14,331 Commercial and industrial 3,645 — (1,150) — — 2,495 Consumer 37,206 — 34,680 (24,787) 683 47,782 Total loans $ 934,331 32,000 $ 68,000 $ (24,787) $ 683 $ 1,010,227 Nine Months Ended June 30, 2023 Provision Balance (credit) Balance October 1, 2022 for credit losses Charge-offs Recoveries June 30, 2023 Real estate loans: Residential $ 623,649 $ 106,980 $ (22,809) $ — $ 707,820 Multi-family 11,008 1,390 — — 12,398 Agricultural 199,011 (114,669) — — 84,342 Commercial 10,801 (5,730) — — 5,071 Construction and land 35,292 9,979 — — 45,271 Home equity line of credit (HELOC) 69,234 (34,674) — — 34,560 Commercial and industrial 12,086 (3,889) — — 8,197 Consumer 22,573 40,613 — 30 63,216 Total loans $ 983,654 $ — $ (22,809) $ 30 $ 960,875
Schedule of allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method	Allowance for credit losses Loans Ending balance, evaluated for impairment Ending balance, evaluated for impairment Individually Collectively Individually Collectively June 30, 2024 Real estate loans: Residential $ — $ 754,997 $ — $ 73,521,479 Multi-family — 2,545 — 1,272,725 Agricultural — 97,721 — 48,860,392 Commercial — 3,239 — 2,119,645 Construction and land — 87,117 — 4,632,776 Home equity line of credit (HELOC) — 14,331 — 4,776,940 Commercial and industrial — 2,495 — 1,747,512 Consumer — 47,782 — 6,151,727 Total loans $ — $ 1,010,227 $ — $ 143,083,196 Allowance for credit losses Loans Ending balance, evaluated for impairment Ending balance, evaluated for impairment Individually Collectively Individually Collectively September 30, 2023 Real estate loans: Residential $ — $ 738,230 $ — $ 74,561,278 Multi-family — 12,840 — 1,309,586 Agricultural — 73,608 — 36,378,192 Commercial — 4,678 — 2,311,882 Construction and land — 49,835 — 5,082,863 Home equity line of credit (HELOC) — 14,289 — 4,708,023 Commercial and industrial — 3,645 — 1,801,569 Consumer — 37,206 — 7,652,164 Total loans $ — $ 934,331 $ — $ 133,805,557
Schedule of credit quality indicators	Term Loans Amortized Cost Basis by Origination Year For The Years Ending September 30, 2024 2023 2022 2021 2020 2019 Prior Total June 30, 2024 Commercial real estate Risk Rating Pass $ - $ - $ 754,222 $ 1,176,215 $ - $ - $ 189,208 $ 2,119,645 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ - $ - $ 754,222 $ 1,176,215 $ - $ - $ 189,208 $ 2,119,645 Commercial real estate Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Construction Risk Rating Pass $ 2,984,546 $ 1,426,150 $ 69,077 $ 68,167 $ 50,782 $ 11,995 $ 22,059 $ 4,632,776 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ 2,984,546 $ 1,426,150 $ 69,077 $ 68,167 $ 50,782 $ 11,995 $ 22,059 $ 4,632,776 Construction Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Commercial and industrial Risk Rating Pass $ 123,385 $ 179,534 $ 293,765 $ 199,676 $ 578,434 $ 78,594 $ 294,124 $ 1,747,512 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ 123,385 $ 179,534 $ 293,765 $ 199,676 $ 578,434 $ 78,594 $ 294,124 $ 1,747,512 Commercial and industrial Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Multi Family Risk Rating Pass $ - $ - $ 961,654 $ - $ - $ 173,278 $ 137,793 $ 1,272,725 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ - $ - $ 961,654 $ - $ - $ 173,278 $ 137,793 $ 1,272,725 Multi Family Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Agricultural Risk Rating Pass $ 14,801,145 $ 12,131,562 $ 9,150,462 $ 5,967,103 $ 3,637,109 $ 547,612 $ 2,625,399 $ 48,860,392 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ 14,801,145 $ 12,131,562 $ 9,150,462 $ 5,967,103 $ 3,637,109 $ 547,612 $ 2,625,399 $ 48,860,392 Agricultural Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Total Risk Rating Pass $ 17,909,076 $ 13,737,246 $ 11,229,180 $ 7,411,161 $ 4,266,325 $ 811,479 $ 3,268,583 $ 58,633,050 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ 17,909,076 $ 13,737,246 $ 11,229,180 $ 7,411,161 $ 4,266,325 $ 811,479 $ 3,268,583 $ 58,633,050 Special Pass Mention Substandard Doubtful Total (In thousands) September 30, 2023 Real estate loans: Residential $ 74,083,965 $ — $ 477,313 $ — $ 74,561,278 Multi-family 1,309,586 — — — 1,309,586 Agricultural 36,378,192 — — — 36,378,192 Commercial 2,311,882 — — — 2,311,882 Construction and land 5,082,863 — — — 5,082,863 Home equity line of credit (HELOC) 4,708,023 — — — 4,708,023 Commercial and industrial 1,801,569 — — — 1,801,569 Consumer 7,652,164 — — — 7,652,164 Total loans $ 133,328,244 $ — $ 477,313 $ — $ 133,805,557 Term Loans Amortized Cost Basis by Origination Year For The Years Ending September 30, 2024 2023 2022 2021 2020 2019 Prior Total June 30, 2024 Residential real estate Payment Performance Performing $ 6,145,014 $ 4,829,549 $ 15,037,019 $ 19,775,404 $ 6,821,556 $ 2,536,969 $ 18,135,252 $ 73,280,763 Nonperforming - - - - - 102,313 138,403 240,716 Total $ 6,145,014 $ 4,829,549 $ 15,037,019 $ 19,775,404 $ 6,821,556 $ 2,639,282 $ 18,273,655 $ 73,521,479 Residential real estate Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Home equity Payment Performance Performing $ 494,017 $ 932,465 $ 1,183,988 $ 822,954 $ 481,423 $ 298,287 $ 563,806 $ 4,776,940 Nonperforming - - - - - - - - Total $ 494,017 $ 932,465 $ 1,183,988 $ 822,954 $ 481,423 $ 298,287 $ 563,806 $ 4,776,940 Home equity Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - Consumer Payment Performance Performing $ 204,044 $ 5,494,987 $ 168,938 $ 60,555 $ 57,930 $ 34,500 $ 15,443 $ 6,036,397 Nonperforming 115,330 - - - - - - 115,330 Total $ 319,374 $ 5,494,987 $ 168,938 $ 60,555 $ 57,930 $ 34,500 $ 15,443 $ 6,151,727 Consumer Current period gross charge-offs $ - $ 24,787 $ - $ - $ - $ - $ - $ 24,787 Total Payment Performance Performing $ 6,843,075 $ 11,257,001 $ 16,389,945 $ 20,658,913 $ 7,360,909 $ 2,869,756 $ 18,714,501 $ 84,094,100 Nonperforming 115,330 - - - - 102,313 138,403 356,046 Total $ 6,958,405 $ 11,257,001 $ 16,389,945 $ 20,658,913 $ 7,360,909 $ 2,972,069 $ 18,852,904 $ 84,450,146
Schedule of loan portfolio aging analysis of the recorded investment in loans	June 30, 2024 Greater Than 30-59 Days 60-89 Days 90 Days Total Total Loans Past Due Past Due Past Due Past Due Current Receivable Real estate loans: Residential $ 210,682 $ 48,274 $ 240,716 $ 499,672 $ 73,021,807 $ 73,521,479 Multi-family — — — — 1,272,725 1,272,725 Agricultural 479,200 — — 479,200 48,381,192 48,860,392 Commercial — — — — 2,119,645 2,119,645 Construction and land 50,782 — — 50,782 4,581,994 4,632,776 Home equity line of credit (HELOC) — — — — 4,776,940 4,776,940 Commercial and industrial — 17,431 — 17,431 1,730,081 1,747,512 Consumer 218,443 21,841 115,330 355,614 5,796,113 6,151,727 Total $ 959,107 $ 87,546 $ 356,046 $ 1,402,699 $ 141,680,497 $ 143,083,196 September 30, 2023 Greater Than 30-59 Days 60-89 Days 90 Days Total Total Loans Past Due Past Due Past Due Past Due Current Receivable Real estate loans: Residential $ 482,844 $ 332,929 $ 477,313 $ 1,293,086 $ 73,268,192 $ 74,561,278 Multi-family — — — — 1,309,586 1,309,586 Agricultural — — — — 36,378,192 36,378,192 Commercial — — — — 2,311,882 2,311,882 Construction and land — — — — 5,082,863 5,082,863 Home equity line of credit (HELOC) — — — — 4,708,023 4,708,023 Commercial and industrial — — — — 1,801,569 1,801,569 Consumer 5,653 20,831 — 26,484 7,625,680 7,652,164 Total $ 488,497 $ 353,760 $ 477,313 $ 1,319,570 $ 132,485,987 $ 133,805,557
Schedule of Nonaccrual loans	June 30, September 30, 2024 2023 Residential real estate loans $ 240,716 $ 477,313 Consumer 115,330 — $ 356,046 $ 477,313

Regulatory Matters (Tables)

Regulatory Matters (Tables)	9 Months Ended
Regulatory Matters (Tables)	Jun. 30, 2024
Regulatory Matters
Schedule of actual and required capital amounts and ratios	The Bank’s actual and required capital amounts and ratios are as follows (table amounts in thousands): To Be Well Capitalized Under Prompt Corrective For Capital Adequacy Action Actual Purposes Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of June 30, 2024 Total Capital (to Risk-Weighted Assets) $ 21,599 16.7 % $ 10,337 8.0 % $ 12,921 10.0 % Tier 1 Capital (to Risk-Weighted Assets) $ 20,589 15.9 % $ 7,753 6.0 % $ 10,337 8.0 % Common Equity Tier I Capital (to Risk-Weighted Assets) $ 20,589 15.9 % $ 5,814 4.5 % $ 8,399 6.5 % Tier I Capital (to Average Total Assets) $ 20,589 12.1 % $ 5,168 4.0 % $ 8,537 5.0 % As of September 30, 2023 Total Capital (to Risk-Weighted Assets) $ 21,079 19.0 % $ 8,897 8.0 % $ 11,121 10.0 % Tier 1 Capital (to Risk-Weighted Assets) $ 20,145 18.1 % $ 6,672 6.0 % $ 8,897 8.0 % Common Equity Tier I Capital (to Risk-Weighted Assets) $ 20,145 18.1 % $ 5,004 4.5 % $ 7,228 6.5 % Tier I Capital (to Average Total Assets) $ 20,145 13.1 % $ 6,158 4.0 % $ 7,697 5.0 %

Disclosures about Fair Value _2

Disclosures about Fair Value of Assets and Liabilities (Tables)	9 Months Ended
	Jun. 30, 2024
Disclosures about Fair Value of Assets and Liabilities
Schedule of fair value measurements of assets measured at fair value on a recurring basis and the level within the fair value hierarchy	Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Observable Unobservable Fair Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) June 30, 2024 U.S. Government agencies $ 3,813,620 $ — $ 3,813,620 $ — Mortgage-backed Government Sponsored Enterprises (GSEs) 3,868,137 — 3,868,137 — State and political subdivisions 3,603,510 — 3,603,510 — September 30, 2023 U.S. Treasury securities $ 966,720 $ 966,720 $ — $ — U.S. Government agencies 3,824,770 — 3,824,770 — Mortgage-backed Government Sponsored Enterprises (GSEs) 3,232,231 — 3,232,231 — State and political subdivisions 3,425,994 — 3,425,994 —
Schedule of carrying amount and estimated fair value of financial instruments	Carrying Fair Fair Value Measurements Using Value Value Level 1 Level 2 Level 3 June 30, 2024 Financial assets: Cash and cash equivalents $ 6,800,364 $ 6,800,364 $ 6,800,364 $ — $ — Interest-bearing time deposits 100,000 100,000 100,000 — — Loans held for sale 9,775,773 9,952,787 — — 9,952,787 Loans, net 139,791,373 130,476,128 — — 130,476,128 FHLB Stock 1,698,300 1,698,300 — 1,698,300 — Bank owned life insurance 1,817,506 1,817,506 1,817,506 — — Accrued interest receivable 597,633 597,633 597,633 — — Financial liabilities: Deposits 131,901,856 133,277,895 93,333,895 — 39,944,000 FHLB advances - long term 16,000,000 15,984,800 — 15,984,800 — FHLB advances - short term 4,000,000 3,996,200 — 3,996,200 — Accrued interest payable 226,402 226,402 226,402 — — September 30, 2023 Financial assets: Cash and cash equivalents $ 6,291,336 $ 6,291,336 $ 6,291,336 $ — $ — Interest-bearing time deposits 100,000 100,000 100,000 — — Loans held for sale 3,094,405 3,096,000 — — 3,096,000 Loans, net 129,967,323 115,340,546 — — 115,340,546 FHLB Stock 1,368,900 1,368,900 — 1,368,900 — Bank owned life insurance 1,783,880 1,783,880 1,783,880 — — Accrued interest receivable 456,867 456,867 456,867 — — Financial liabilities: Deposits 122,815,748 123,426,791 90,497,791 — 32,929,000 FHLB advances 12,000,000 12,001,000 — 12,001,000 — Accrued interest payable 69,434 69,434 69,434 — —

Commitments and Credit Risks (T

Commitments and Credit Risks (Tables)	9 Months Ended
Commitments and Credit Risks (Tables)	Jun. 30, 2024
Commitments and Credit Risks
Schedule of commitments outstanding	June 30, September 30, 2024 2023 Commitments to originate loans $ 3,948,191 $ 2,717,974 Undisbursed balance of loans closed 9,479,666 9,172,548 Total $ 13,427,857 $ 11,890,522

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Jun. 30, 2024
Earnings Per Share
Schedule of computation of basic and diluted earnings per share	Three Months Ended Nine Months Ended June 30, June 30, 2024 2024 Net income $ 144,630 $ 447,257 Weighted-average shares issued 1,022,970 1,022,970 Less weighted-average unearned ESOP shares (76,382) (78,194) Weighted-average shares outstanding 946,588 944,776 Earnings per share - basic and diluted $ 0.15 $ 0.47

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies (Details)		3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 26, 2023 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) director Office shares	Jun. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)	Oct. 01, 2023 USD ($)
Property, Plant and Equipment [Line Items]
Additional paid-in capital		$ (8,658,653)		$ (8,658,653)		$ (8,642,312)
income tax expense		(24,349)	$ (72,950)	(104,511)	$ (226,850)
Retained earnings		(16,125,833)		(16,125,833)		(15,703,856)
Available-for-sale securities, allowance for credit losses		0		0			$ 0
Accrued interest receivable on available-for-sale debt securities		51,204		51,204
Held-to-maturity securities, allowance for credit losses		0		0		0	$ 0
Accrued interest receivable on held-to-maturity debt securities		$ 502		$ 502
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]		Accrued interest receivable		Accrued interest receivable
Accrued interest receivable on loans		$ 306,257		$ 306,257
Accrued interest receivable		$ 597,633		$ 597,633		456,867
Weighted average number diluted shares outstanding adjustment \| shares		0		0
Number of office location \| Office				4
Restatement adjustment
Property, Plant and Equipment [Line Items]
Benefit from irrevocable trust \| director				2
Additional paid-in capital						81,340
legal expense						32,398
income tax expense						6,804
Accrued liabilities						106,934
Retained earnings						25,594
Offsetting line item						$ 96,360
Mercer Savings Bank
Property, Plant and Equipment [Line Items]
Percentage of ownership acquired	100%
Number of shares offered and sold \| shares	972,970
Price per share \| $ / shares	$ 10
Gross offering proceeds	$ 9,729,700

Change in Accounting Principle

Change in Accounting Principle (Details) - USD ($)	Oct. 01, 2023	Jun. 30, 2024	Sep. 30, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings		$ 16,125,833	$ 15,703,856
Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (Decrease) to the allowance for credit losses	$ 32,000
Retained earnings	$ 25,280

Debt Securities - Available for

Debt Securities - Available for Sale Debt Securities Fair Value to Amortized Cost (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023
Available-for-sale Securities:
Amortized Cost	$ 11,938,140	$ 12,538,736
Gross Unrealized Gains	40,595
Gross Unrealized Losses	(693,468)	(1,089,021)
Approximate Fair Value	11,285,267	11,449,715
U.S. Treasury securities
Available-for-sale Securities:
Amortized Cost		999,565
Gross Unrealized Losses		(32,845)
Approximate Fair Value		966,720
U.S. Government agencies
Available-for-sale Securities:
Amortized Cost	3,883,325	4,009,577
Gross Unrealized Gains	15,163
Gross Unrealized Losses	(84,868)	(184,807)
Approximate Fair Value	3,813,620	3,824,770
Mortgage-backed Government Sponsored Enterprises (GSEs)
Available-for-sale Securities:
Amortized Cost	4,168,371	3,647,020
Gross Unrealized Gains	12,649
Gross Unrealized Losses	(312,883)	(414,789)
Approximate Fair Value	3,868,137	3,232,231
State and political subdivisions
Available-for-sale Securities:
Amortized Cost	3,886,444	3,882,574
Gross Unrealized Gains	12,783
Gross Unrealized Losses	(295,717)	(456,580)
Approximate Fair Value	$ 3,603,510	$ 3,425,994

Debt Securities - Held-to-Matur

Debt Securities - Held-to-Maturity Fair Value to Amortized Cost (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023
Held-to-maturity Securities:
Amortized Cost	$ 104,193	$ 147,291
Mortgage-backed Government Sponsored Enterprises (GSEs)
Held-to-maturity Securities:
Amortized Cost	104,193	147,291
Gross Unrealized Losses	(3,388)	(4,149)
Approximate Fair Value	$ 100,805	$ 143,142

Debt Securities - Amortized Cos

Debt Securities - Amortized Cost and Fair Value of Available-for-Sale Securities by Contractual Maturity (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023
Available-for-Sale: Amortized Cost
Within one year	$ 1,000,538
One to five years	2,462,826
Five to ten years	882,677
After ten years	3,423,728
Subtotal	7,769,769
Amortized Cost	11,938,140	$ 12,538,736
Available-for-Sale: Fair Value
Due in one year or less	972,480
Due after one through five years	2,387,620
Due after five years through ten years	897,840
Due after ten years	3,159,190
Subtotal	7,417,130
Total	11,285,267	11,449,715
Mortgage-backed Government Sponsored Enterprises (GSEs)
Available-for-Sale: Amortized Cost
Securities not due at a single maturity date	4,168,371
Amortized Cost	4,168,371	3,647,020
Available-for-Sale: Fair Value
Securities not due at a single maturity date	3,868,137
Total	$ 3,868,137	$ 3,232,231

Debt Securities - Narratives (D

Debt Securities - Narratives (Details)	3 Months Ended	9 Months Ended		12 Months Ended
Debt Securities - Narratives (Details)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($) security	Jun. 30, 2023 USD ($)	Sep. 30, 2023 USD ($) security
Debt Securities
Available-for-sale securities, allowance for credit losses	$ 0	$ 0
Held-to-maturity securities, allowance for credit losses	0	0
Carrying value of securities pledged as collateral	$ 486,000	$ 486,000		$ 468,000
Debt Securities, Available-for-Sale, Restriction Type [Extensible Enumeration]	us-gaap:AssetPledgedAsCollateralMember	us-gaap:AssetPledgedAsCollateralMember		us-gaap:AssetPledgedAsCollateralMember
Proceeds from sales of available-for-sale securites	$ 0	$ 0	$ 1,654,776
Gross realized gains			1,037
Gross realized losses			$ 8,049
Number of positions \| security		19		28
Available-for-sale securities	11,285,267	$ 11,285,267		$ 11,449,715
Total, Fair Value	$ 8,870,308	$ 8,870,308		11,449,715
Total fair value of these investments				$ 11,592,857
Percentage of fair value	79%	79%		100%

Debt Securities - Continuous Un

Debt Securities - Continuous Unrealized Loss Positions (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023
Available for sale, Fair Value:
Total, Fair Value	$ 8,870,308	$ 11,449,715
12 Months or More, Fair Value	7,890,096	9,968,171
Less than 12 Months, Fair Value	980,212	1,481,544
Available for sale, Unrealized Losses:
Total, Unrealized Losses		(1,089,021)
12 Months or More, Unrealized Losses	(689,588)	(1,017,885)
Less than 12 Months, Unrealized Losses	(3,880)	(71,136)
Held to maturity, Unrealized Losses:
Total, Unrealized Losses	(693,468)
Total, Fair Value		11,592,857
Total, Unrealized Losses		(1,093,170)
Less than 12 Months, Fair Value		1,481,544
12 Months or More, Fair Value		10,111,313
12 Months or More, Unrealized Losses		(1,022,034)
Less than 12 Months, Unrealized Losses		(71,136)
U.S. Treasury securities
Available for sale, Fair Value:
Total, Fair Value		966,720
12 Months or More, Fair Value		966,720
Available for sale, Unrealized Losses:
Total, Unrealized Losses		(32,845)
12 Months or More, Unrealized Losses		(32,845)
U.S. Government agencies
Available for sale, Fair Value:
Total, Fair Value	2,915,780	3,824,770
12 Months or More, Fair Value	2,915,780	3,824,770
Available for sale, Unrealized Losses:
Total, Unrealized Losses	(84,868)	(184,807)
12 Months or More, Unrealized Losses	(84,868)	(184,807)
Mortgage-backed Government Sponsored Enterprises (GSEs)
Available for sale, Fair Value:
Total, Fair Value	3,395,713	3,232,231
12 Months or More, Fair Value	2,932,871	3,232,231
Less than 12 Months, Fair Value	462,842
Available for sale, Unrealized Losses:
Total, Unrealized Losses	(312,883)	(414,789)
12 Months or More, Unrealized Losses	(311,861)	(414,789)
Less than 12 Months, Unrealized Losses	(1,022)
Held to maturity, Fair Value:
Total, Fair Value		143,142
12 Months or More, Fair Value		143,142
Held to maturity, Unrealized Losses:
12 Months or More, Unrealized Losses		(4,149)
Total, Unrealized Losses		(4,149)
State and political subdivisions
Available for sale, Fair Value:
Total, Fair Value	2,558,815	3,425,994
12 Months or More, Fair Value	2,041,445	1,944,450
Less than 12 Months, Fair Value	517,370	1,481,544
Available for sale, Unrealized Losses:
Total, Unrealized Losses	(295,717)	(456,580)
12 Months or More, Unrealized Losses	(292,859)	(385,444)
Less than 12 Months, Unrealized Losses	$ (2,858)	$ (71,136)

Loans and Allowance for Credi_3

Loans and Allowance for Credit Losses - Categories of Loans (Details) - USD ($)	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022
Categories of loans
Total loans	$ 143,083,196
Undisbursed loans in process	1,949,315
Net deferred loan fees	332,281
Allowance for credit losses	1,010,227	$ 966,704
Net loans	139,791,373
Categories of loans
Total loans			$ 133,805,557
Undisbursed loans in process			2,578,282
Net deferred loan fees			325,621
Allowance for credit losses			934,331	$ 960,875	$ 960,845	$ 983,654
Net loans			129,967,323
Real estate loan \| Residential
Categories of loans
Total loans	73,521,479
Allowance for credit losses	754,997	743,796
Categories of loans
Total loans			74,561,278
Allowance for credit losses			738,230	707,820	647,131	623,649
Real estate loan \| Multi-family
Categories of loans
Total loans	1,272,725
Allowance for credit losses	2,545	2,848
Categories of loans
Total loans			1,309,586
Allowance for credit losses			12,840	12,398	11,438	11,008
Real estate loan \| Agricultural
Categories of loans
Total loans	48,860,392
Allowance for credit losses	97,721	96,743
Categories of loans
Total loans			36,378,192
Allowance for credit losses			73,608	84,342	222,079	199,011
Real estate loan \| Commercial
Categories of loans
Total loans	2,119,645
Allowance for credit losses	3,239	4,826
Categories of loans
Total loans			2,311,882
Allowance for credit losses			4,678	5,071	12,436	10,801
Real estate loan \| Construction
Categories of loans
Total loans	4,632,776
Allowance for credit losses	87,117	53,213
Categories of loans
Total loans			5,082,863
Allowance for credit losses			49,835	45,271	35,444	35,292
Real estate loan \| Home equity line of credit (HELOC)
Categories of loans
Total loans	4,776,940
Allowance for credit losses	14,331	15,837
Categories of loans
Total loans			4,708,023
Allowance for credit losses			14,289	34,560	10,456	69,234
Commercial and industrial
Categories of loans
Total loans	1,747,512
Allowance for credit losses	2,495	4,098
Categories of loans
Total loans			1,801,569
Allowance for credit losses			3,645	8,197	8,289	12,086
Consumer
Categories of loans
Total loans	6,151,727
Allowance for credit losses	$ 47,782	$ 45,343
Categories of loans
Total loans			7,652,164
Allowance for credit losses			$ 37,206	$ 63,216	$ 13,572	$ 22,573

Loans and Allowance for Credi_4

Loans and Allowance for Credit Losses - Narratives (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022
Loans and Allowance for Loan Losses
Unpaid principal balances	$ 139,791,373
Unpaid principal balances		$ 129,967,323
Allowance for credit losses		934,331	$ 960,875	$ 960,845	$ 983,654
Total loans	143,083,196
Residential \| Real estate loan
Loans and Allowance for Loan Losses
Allowance for credit losses		738,230	707,820	647,131	623,649
Total loans	73,521,479
Agricultural \| Real estate loan
Loans and Allowance for Loan Losses
Allowance for credit losses		73,608	84,342	222,079	199,011
Total loans	48,860,392
Construction \| Real estate loan
Loans and Allowance for Loan Losses
Allowance for credit losses		49,835	$ 45,271	$ 35,444	$ 35,292
Total loans	4,632,776
Mortgage loans
Loans and Allowance for Loan Losses
Unpaid principal balances	$ 18,362,000
Unpaid principal balances		19,667,000
Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2016-13
Loans and Allowance for Loan Losses
Allowance for credit losses		32,000
Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2016-13 \| Residential \| Real estate loan
Loans and Allowance for Loan Losses
Allowance for credit losses		$ 32,000

Loans and Allowance for Credi_5

Loans and Allowance for Credit Losses - Allowance for loan losses (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	$ 966,704
Provision (credit) for credit losses	68,000		$ 68,000
Charge-offs	(24,787)		(24,787)
Recoveries	310		683
Balance at end	1,010,227		1,010,227
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning		$ 960,845	934,331	$ 983,654
Charge-offs				(22,809)
Recoveries		30		30
Balance at end		960,875		960,875
Real estate loan \| Residential
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	743,796
Provision (credit) for credit losses	11,201		(15,233)
Balance at end	754,997		754,997
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning		647,131	738,230	623,649
Provision (credit) for credit losses		60,689		106,980
Charge-offs				(22,809)
Balance at end		707,820		707,820
Real estate loan \| Multi-family
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	2,848
Provision (credit) for credit losses	(303)		(10,295)
Balance at end	2,545		2,545
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning		11,438	12,840	11,008
Provision (credit) for credit losses		960		1,390
Balance at end		12,398		12,398
Real estate loan \| Agricultural
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	96,743
Provision (credit) for credit losses	978		24,113
Balance at end	97,721		97,721
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning		222,079	73,608	199,011
Provision (credit) for credit losses		(137,737)		(114,669)
Balance at end		84,342		84,342
Real estate loan \| Commercial
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	4,826
Provision (credit) for credit losses	(1,587)		(1,439)
Balance at end	3,239		3,239
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning		12,436	4,678	10,801
Provision (credit) for credit losses		(7,365)		(5,730)
Balance at end		5,071		5,071
Real estate loan \| Construction
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	53,213
Provision (credit) for credit losses	33,904		37,282
Balance at end	87,117		87,117
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning		35,444	49,835	35,292
Provision (credit) for credit losses		9,827		9,979
Balance at end		45,271		45,271
Real estate loan \| Home equity line of credit (HELOC)
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	15,837
Provision (credit) for credit losses	(1,506)		42
Balance at end	14,331		14,331
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning		10,456	14,289	69,234
Provision (credit) for credit losses		24,104		(34,674)
Balance at end		34,560		34,560
Commercial and industrial
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	4,098
Provision (credit) for credit losses	(1,603)		(1,150)
Balance at end	2,495		2,495
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning		8,289	3,645	12,086
Provision (credit) for credit losses		(92)		(3,889)
Balance at end		8,197		8,197
Consumer
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	45,343
Provision (credit) for credit losses	26,916		34,680
Charge-offs	(24,787)		(24,787)
Recoveries	310		683
Balance at end	$ 47,782		47,782
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning		13,572	37,206	22,573
Provision (credit) for credit losses		49,614		40,613
Recoveries		30		30
Balance at end		$ 63,216		$ 63,216
Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2016-13
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning			32,000
Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2016-13 \| Real estate loan \| Residential
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning			$ 32,000

Loans and Allowance for Credi_6

Loans and Allowance for Credit Losses - Loans Evaluated for Impairment (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated	$ 1,010,227	$ 934,331,000
Loans Ending balance, evaluated for impairment
Collectively Evaluated	143,083,196	133,805,557,000
Real estate loan \| Residential
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated	754,997	738,230
Loans Ending balance, evaluated for impairment
Collectively Evaluated	73,521,479	74,561,278
Real estate loan \| Multi-family
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated	2,545	12,840
Loans Ending balance, evaluated for impairment
Collectively Evaluated	1,272,725	1,309,586
Real estate loan \| Agricultural
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated	97,721	73,608
Loans Ending balance, evaluated for impairment
Collectively Evaluated	48,860,392	36,378,192
Real estate loan \| Commercial
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated	3,239	4,678
Loans Ending balance, evaluated for impairment
Collectively Evaluated	2,119,645	2,311,882
Real estate loan \| Construction
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated	87,117	49,835
Loans Ending balance, evaluated for impairment
Collectively Evaluated	4,632,776	5,082,863
Real estate loan \| Home equity line of credit (HELOC)
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated	14,331	14,289
Loans Ending balance, evaluated for impairment
Collectively Evaluated	4,776,940	4,708,023
Commercial and industrial
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated	2,495	3,645
Loans Ending balance, evaluated for impairment
Collectively Evaluated	1,747,512	1,801,569
Consumer
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated	47,782	37,206
Loans Ending balance, evaluated for impairment
Collectively Evaluated	$ 6,151,727	$ 7,652,164

Loans and Allowance for Credi_7

Loans and Allowance for Credit Losses - Credit Quality Indicators for Other than Residential Real Estate Loans by Class (Details)	3 Months Ended	9 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)
Term Loans Amortized Costs Basis by Origination Year
Total loans	$ 143,083,196	$ 143,083,196
Current period gross charge-offs
Total writeoff	24,787	24,787
Other than residential real estate loans
Term Loans Amortized Costs Basis by Origination Year
2024	17,909,076	17,909,076
2023	13,737,246	13,737,246
2022	11,229,180	11,229,180
2021	7,411,161	7,411,161
2020	4,266,325	4,266,325
2019	811,479	811,479
Prior	3,268,583	3,268,583
Total loans	58,633,050	58,633,050
Other than residential real estate loans \| Pass
Term Loans Amortized Costs Basis by Origination Year
2024	17,909,076	17,909,076
2023	13,737,246	13,737,246
2022	11,229,180	11,229,180
2021	7,411,161	7,411,161
2020	4,266,325	4,266,325
2019	811,479	811,479
Prior	3,268,583	3,268,583
Total loans	58,633,050	58,633,050
Real estate loan \| Commercial
Term Loans Amortized Costs Basis by Origination Year
2022	754,222	754,222
2021	1,176,215	1,176,215
Prior	189,208	189,208
Total loans	2,119,645	2,119,645
Real estate loan \| Commercial \| Pass
Term Loans Amortized Costs Basis by Origination Year
2022	754,222	754,222
2021	1,176,215	1,176,215
Prior	189,208	189,208
Total loans	2,119,645	2,119,645
Real estate loan \| Construction
Term Loans Amortized Costs Basis by Origination Year
2024	2,984,546	2,984,546
2023	1,426,150	1,426,150
2022	69,077	69,077
2021	68,167	68,167
2020	50,782	50,782
2019	11,995	11,995
Prior	22,059	22,059
Total loans	4,632,776	4,632,776
Real estate loan \| Construction \| Pass
Term Loans Amortized Costs Basis by Origination Year
2024	2,984,546	2,984,546
2023	1,426,150	1,426,150
2022	69,077	69,077
2021	68,167	68,167
2020	50,782	50,782
2019	11,995	11,995
Prior	22,059	22,059
Total loans	4,632,776	4,632,776
Real estate loan \| Multi-family
Term Loans Amortized Costs Basis by Origination Year
2022	961,654	961,654
2019	173,278	173,278
Prior	137,793	137,793
Total loans	1,272,725	1,272,725
Real estate loan \| Multi-family \| Pass
Term Loans Amortized Costs Basis by Origination Year
2022	961,654	961,654
2019	173,278	173,278
Prior	137,793	137,793
Total loans	1,272,725	1,272,725
Real estate loan \| Agricultural
Term Loans Amortized Costs Basis by Origination Year
2024	14,801,145	14,801,145
2023	12,131,562	12,131,562
2022	9,150,462	9,150,462
2021	5,967,103	5,967,103
2020	3,637,109	3,637,109
2019	547,612	547,612
Prior	2,625,399	2,625,399
Total loans	48,860,392	48,860,392
Real estate loan \| Agricultural \| Pass
Term Loans Amortized Costs Basis by Origination Year
2024	14,801,145	14,801,145
2023	12,131,562	12,131,562
2022	9,150,462	9,150,462
2021	5,967,103	5,967,103
2020	3,637,109	3,637,109
2019	547,612	547,612
Prior	2,625,399	2,625,399
Total loans	48,860,392	48,860,392
Commercial and industrial
Term Loans Amortized Costs Basis by Origination Year
2024	123,385	123,385
2023	179,534	179,534
2022	293,765	293,765
2021	199,676	199,676
2020	578,434	578,434
2019	78,594	78,594
Prior	294,124	294,124
Total loans	1,747,512	1,747,512
Commercial and industrial \| Pass
Term Loans Amortized Costs Basis by Origination Year
2024	123,385	123,385
2023	179,534	179,534
2022	293,765	293,765
2021	199,676	199,676
2020	578,434	578,434
2019	78,594	78,594
Prior	294,124	294,124
Total loans	$ 1,747,512	$ 1,747,512

Loans and Allowance for Credi_8

Loans and Allowance for Credit Losses - Credit Quality Indicators (Details)	Sep. 30, 2023 USD ($)
Loans and Allowance for Loan Losses
Total loans	$ 133,805,557
Pass
Loans and Allowance for Loan Losses
Total loans	133,328,244
Substandard
Loans and Allowance for Loan Losses
Total loans	477,313
Real estate loan \| Residential
Loans and Allowance for Loan Losses
Total loans	74,561,278
Real estate loan \| Residential \| Pass
Loans and Allowance for Loan Losses
Total loans	74,083,965
Real estate loan \| Residential \| Substandard
Loans and Allowance for Loan Losses
Total loans	477,313
Real estate loan \| Multi-family
Loans and Allowance for Loan Losses
Total loans	1,309,586
Real estate loan \| Multi-family \| Pass
Loans and Allowance for Loan Losses
Total loans	1,309,586
Real estate loan \| Agricultural
Loans and Allowance for Loan Losses
Total loans	36,378,192
Real estate loan \| Agricultural \| Pass
Loans and Allowance for Loan Losses
Total loans	36,378,192
Real estate loan \| Commercial
Loans and Allowance for Loan Losses
Total loans	2,311,882
Real estate loan \| Commercial \| Pass
Loans and Allowance for Loan Losses
Total loans	2,311,882
Real estate loan \| Construction
Loans and Allowance for Loan Losses
Total loans	5,082,863
Real estate loan \| Construction \| Pass
Loans and Allowance for Loan Losses
Total loans	5,082,863
Real estate loan \| Home equity line of credit (HELOC)
Loans and Allowance for Loan Losses
Total loans	4,708,023
Real estate loan \| Home equity line of credit (HELOC) \| Pass
Loans and Allowance for Loan Losses
Total loans	4,708,023
Commercial and industrial
Loans and Allowance for Loan Losses
Total loans	1,801,569
Commercial and industrial \| Pass
Loans and Allowance for Loan Losses
Total loans	1,801,569
Consumer
Loans and Allowance for Loan Losses
Total loans	7,652,164
Consumer \| Pass
Loans and Allowance for Loan Losses
Total loans	$ 7,652,164

Loans and Allowance for Credi_9

Loans and Allowance for Credit Losses - Amortized Cost in Residential and Consumer Loans Based on Payment Activity (Details)	3 Months Ended	9 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)
Term Loans Amortized Costs Basis by Origination Year
Total loans	$ 143,083,196	$ 143,083,196
Current period gross charge-offs
Total writeoff	24,787	24,787
Residential and consumer loans
Term Loans Amortized Costs Basis by Origination Year
2024	6,958,405	6,958,405
2023	11,257,001	11,257,001
2022	16,389,945	16,389,945
2021	20,658,913	20,658,913
2020	7,360,909	7,360,909
2019	2,972,069	2,972,069
Prior	18,852,904	18,852,904
Total loans	84,450,146	84,450,146
Residential and consumer loans \| Performing
Term Loans Amortized Costs Basis by Origination Year
2024	6,843,075	6,843,075
2023	11,257,001	11,257,001
2022	16,389,945	16,389,945
2021	20,658,913	20,658,913
2020	7,360,909	7,360,909
2019	2,869,756	2,869,756
Prior	18,714,501	18,714,501
Total loans	84,094,100	84,094,100
Residential and consumer loans \| Nonperforming
Term Loans Amortized Costs Basis by Origination Year
2024	115,330	115,330
2019	102,313	102,313
Prior	138,403	138,403
Total loans	356,046	356,046
Real estate loan \| Residential
Term Loans Amortized Costs Basis by Origination Year
2024	6,145,014	6,145,014
2023	4,829,549	4,829,549
2022	15,037,019	15,037,019
2021	19,775,404	19,775,404
2020	6,821,556	6,821,556
2019	2,639,282	2,639,282
Prior	18,273,655	18,273,655
Total loans	73,521,479	73,521,479
Real estate loan \| Residential \| Performing
Term Loans Amortized Costs Basis by Origination Year
2024	6,145,014	6,145,014
2023	4,829,549	4,829,549
2022	15,037,019	15,037,019
2021	19,775,404	19,775,404
2020	6,821,556	6,821,556
2019	2,536,969	2,536,969
Prior	18,135,252	18,135,252
Total loans	73,280,763	73,280,763
Real estate loan \| Residential \| Nonperforming
Term Loans Amortized Costs Basis by Origination Year
2019	102,313	102,313
Prior	138,403	138,403
Total loans	240,716	240,716
Real estate loan \| Home equity line of credit (HELOC)
Term Loans Amortized Costs Basis by Origination Year
2024	494,017	494,017
2023	932,465	932,465
2022	1,183,988	1,183,988
2021	822,954	822,954
2020	481,423	481,423
2019	298,287	298,287
Prior	563,806	563,806
Total loans	4,776,940	4,776,940
Real estate loan \| Home equity line of credit (HELOC) \| Performing
Term Loans Amortized Costs Basis by Origination Year
2024	494,017	494,017
2023	932,465	932,465
2022	1,183,988	1,183,988
2021	822,954	822,954
2020	481,423	481,423
2019	298,287	298,287
Prior	563,806	563,806
Total loans	4,776,940	4,776,940
Consumer
Term Loans Amortized Costs Basis by Origination Year
2024	319,374	319,374
2023	5,494,987	5,494,987
2022	168,938	168,938
2021	60,555	60,555
2020	57,930	57,930
2019	34,500	34,500
Prior	15,443	15,443
Total loans	6,151,727	6,151,727
Current period gross charge-offs
2023		24,787
Total writeoff	24,787	24,787
Consumer \| Performing
Term Loans Amortized Costs Basis by Origination Year
2024	204,044	204,044
2023	5,494,987	5,494,987
2022	168,938	168,938
2021	60,555	60,555
2020	57,930	57,930
2019	34,500	34,500
Prior	15,443	15,443
Total loans	6,036,397	6,036,397
Consumer \| Nonperforming
Term Loans Amortized Costs Basis by Origination Year
2024	115,330	115,330
Total loans	$ 115,330	$ 115,330

Loans and Allowance for Cred_10

Loans and Allowance for Credit Losses - Aging Analysis (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023
Loans and Allowance for Loan Losses
Total loans	$ 143,083,196
Total loans		$ 133,805,557
Total Loans >90 Days & Accruing	0	0
Loan impaired		0
Collateral dependent
Loans and Allowance for Loan Losses
Total loans	0
30 - 59 Days Past Due
Loans and Allowance for Loan Losses
Total loans	959,107
Total loans		488,497
60 - 89 Days Past Due
Loans and Allowance for Loan Losses
Total loans	87,546
Total loans		353,760
Greater than 90 Days Past Due
Loans and Allowance for Loan Losses
Total loans	356,046
Total loans		477,313
Total Past Due
Loans and Allowance for Loan Losses
Total loans	1,402,699
Total loans		1,319,570
Current
Loans and Allowance for Loan Losses
Total loans	141,680,497
Total loans		132,485,987
Real estate loan \| Residential
Loans and Allowance for Loan Losses
Total loans	73,521,479
Total loans		74,561,278
Real estate loan \| Residential \| 30 - 59 Days Past Due
Loans and Allowance for Loan Losses
Total loans	210,682
Total loans		482,844
Real estate loan \| Residential \| 60 - 89 Days Past Due
Loans and Allowance for Loan Losses
Total loans	48,274
Total loans		332,929
Real estate loan \| Residential \| Greater than 90 Days Past Due
Loans and Allowance for Loan Losses
Total loans	240,716
Total loans		477,313
Real estate loan \| Residential \| Total Past Due
Loans and Allowance for Loan Losses
Total loans	499,672
Total loans		1,293,086
Real estate loan \| Residential \| Current
Loans and Allowance for Loan Losses
Total loans	73,021,807
Total loans		73,268,192
Real estate loan \| Multi-family
Loans and Allowance for Loan Losses
Total loans	1,272,725
Total loans		1,309,586
Real estate loan \| Multi-family \| Current
Loans and Allowance for Loan Losses
Total loans	1,272,725
Total loans		1,309,586
Real estate loan \| Agricultural
Loans and Allowance for Loan Losses
Total loans	48,860,392
Total loans		36,378,192
Real estate loan \| Agricultural \| 30 - 59 Days Past Due
Loans and Allowance for Loan Losses
Total loans	479,200
Real estate loan \| Agricultural \| Total Past Due
Loans and Allowance for Loan Losses
Total loans	479,200
Real estate loan \| Agricultural \| Current
Loans and Allowance for Loan Losses
Total loans	48,381,192
Total loans		36,378,192
Real estate loan \| Commercial
Loans and Allowance for Loan Losses
Total loans	2,119,645
Total loans		2,311,882
Real estate loan \| Commercial \| Current
Loans and Allowance for Loan Losses
Total loans	2,119,645
Total loans		2,311,882
Real estate loan \| Construction
Loans and Allowance for Loan Losses
Total loans	4,632,776
Total loans		5,082,863
Real estate loan \| Construction \| 30 - 59 Days Past Due
Loans and Allowance for Loan Losses
Total loans	50,782
Real estate loan \| Construction \| Total Past Due
Loans and Allowance for Loan Losses
Total loans	50,782
Real estate loan \| Construction \| Current
Loans and Allowance for Loan Losses
Total loans	4,581,994
Total loans		5,082,863
Real estate loan \| Home equity line of credit (HELOC)
Loans and Allowance for Loan Losses
Total loans	4,776,940
Total loans		4,708,023
Real estate loan \| Home equity line of credit (HELOC) \| Current
Loans and Allowance for Loan Losses
Total loans	4,776,940
Total loans		4,708,023
Commercial and industrial
Loans and Allowance for Loan Losses
Total loans	1,747,512
Total loans		1,801,569
Commercial and industrial \| 60 - 89 Days Past Due
Loans and Allowance for Loan Losses
Total loans	17,431
Commercial and industrial \| Total Past Due
Loans and Allowance for Loan Losses
Total loans	17,431
Commercial and industrial \| Current
Loans and Allowance for Loan Losses
Total loans	1,730,081
Total loans		1,801,569
Consumer
Loans and Allowance for Loan Losses
Total loans	6,151,727
Total loans		7,652,164
Consumer \| 30 - 59 Days Past Due
Loans and Allowance for Loan Losses
Total loans	218,443
Total loans		5,653
Consumer \| 60 - 89 Days Past Due
Loans and Allowance for Loan Losses
Total loans	21,841
Total loans		20,831
Consumer \| Greater than 90 Days Past Due
Loans and Allowance for Loan Losses
Total loans	115,330
Consumer \| Total Past Due
Loans and Allowance for Loan Losses
Total loans	355,614
Total loans		26,484
Consumer \| Current
Loans and Allowance for Loan Losses
Total loans	$ 5,796,113
Total loans		$ 7,625,680

Loans and Allowance for Cred_11

Loans and Allowance for Credit Losses - Nonaccrual Loans (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023
Loans and Allowance for Loan Losses
Nonaccrual loans	$ 356,046
Nonaccrual loans		$ 477,313
Real estate loan \| Residential
Loans and Allowance for Loan Losses
Nonaccrual loans	240,716
Nonaccrual loans		$ 477,313
Consumer
Loans and Allowance for Loan Losses
Nonaccrual loans	$ 115,330

Loans and Allowance for Cred_12

Loans and Allowance for Credit Losses - Loans Modification (Details) - USD ($)	9 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2023
Financing Receivable, Past Due [Line Items]
Total Loans >90 Days & Accruing	$ 0		$ 0
Loans modified	0	$ 0	0
Loans modified in the past 12 months that subsequently defaulted	0	$ 0	0
Loans modified in a troubled debt restructuring	0
Loans modified in the past 12 months that subsequently defaulted			0
Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Nonaccrual loans	$ 0		$ 0

Regulatory Matters (Details)

Regulatory Matters (Details) $ in Thousands	Jun. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Total Capital (to Risk-Weighted Assets)
Total Capital (to Risk-Weighted Assets), Actual, Amount	$ 21,599	$ 21,079
Total Capital (to Risk-Weighted Assets), Actual, Ratio (as a percent)	0.167	0.190
Total Capital, Amount Required for Capital Adequacy Purposes, Amount	$ 10,337	$ 8,897
Total Capital, Amount Required for Capital Adequacy Purposes, Ratio (as a percent)	0.080	0.080
Total capital, Amount Required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 12,921	$ 11,121
Total capital, Amount Required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	0.100	0.100
Tier I Capital (to Risk-Weighted Assets)
Tier I Capital (to Risk-Weighted Assets), Actual, Amount	$ 20,589	$ 20,145
Tier I Capital (to Risk-Weighted Assets), Actual, Ratio (as a percent)	0.159	0.181
Tier I Capital, Amount Required for Capital Adequacy Purposes, Amount	$ 7,753	$ 6,672
Tier I Capital, Amount Required for Capital Adequacy Purposes, Ratio (as a percent)	0.060	0.060
Tier I Capital, Amount Required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 10,337	$ 8,897
Tier I Capital, Amount Required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	0.080	0.080
Common Equity Tier I Capital (to Risk-Weighted Assets)
Common Equity Tier I Capital (to Risk-Weighted Assets), Actual, Amount	$ 20,589	$ 20,145
Common Equity Tier I Capital (to Risk-Weighted Assets), Actual, Ratio (as a percent)	0.159	0.181
Common Equity Tier I Capital, Amount Required for Capital Adequacy Purposes, Amount	$ 5,814	$ 5,004
Common Equity Tier I Capital, Amount Required for Capital Adequacy Purposes, Ratio (as a percent)	0.045	0.045
Common Equity Tier I Capital, Amount Required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 8,399	$ 7,228
Common Equity Tier I Capital, Amount Required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	0.065	0.065
Tier 1 Capital (Average Total Assets)
Tier 1 Capital (Average Total Assets), Actual, Amount	$ 20,589	$ 20,145
Tier 1 Capital (Average Total Assets), Actual, Ratio (as a percent)	0.121	0.131
Tier 1 Capital (Average Total Assets), Amount Required for Capital Adequacy Purposes, Amount	$ 5,168	$ 6,158
Tier 1 Capital (Average Total Assets), Amount Required for Capital Adequacy Purposes, Ratio (as a percent)	0.040	0.040
Tier 1 Capital (Average Total Assets), Amount Required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 8,537	$ 7,697
Tier 1 Capital (Average Total Assets), Amount Required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	0.050	0.050

Disclosures about Fair Value _3

Disclosures about Fair Value of Assets and Liabilities - Assets Measured at Fair Value (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 11,285,267	$ 11,449,715
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		966,720
U.S. Government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,813,620	3,824,770
Mortgage-backed Government Sponsored Enterprises (GSEs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,868,137	3,232,231
State and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,603,510	3,425,994
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities measured at fair value	0	0
Recurring \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		966,720
Recurring \| U.S. Government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,813,620	3,824,770
Recurring \| Mortgage-backed Government Sponsored Enterprises (GSEs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,868,137	3,232,231
Recurring \| State and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,603,510	3,425,994
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		966,720
Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. Government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,813,620	3,824,770
Recurring \| Significant Other Observable Inputs (Level 2) \| Mortgage-backed Government Sponsored Enterprises (GSEs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,868,137	3,232,231
Recurring \| Significant Other Observable Inputs (Level 2) \| State and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,603,510	3,425,994
Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities measured at fair value	0	0
Assets measured at fair value	$ 0	$ 0

Disclosures about Fair Value _4

Disclosures about Fair Value of Assets and Liabilities - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023
Financial assets:
Bank owned life insurance	$ 1,817,506	$ 1,783,880
Recurring \| Reported Value Measurement
Financial assets:
Cash and cash equivalents	6,800,364	6,291,336
Interest-bearing time deposits	100,000	100,000
Loans held for sale	9,775,773	3,094,405
Loans, net	139,791,373	129,967,323
FHLB Stock	1,698,300	1,368,900
Bank owned life insurance	1,817,506	1,783,880
Accrued interest receivable	597,633	456,867
Financial liabilities:
Deposits	131,901,856	122,815,748
FHLB advances		12,000,000
Accrued interest payable	226,402	69,434
Recurring \| Reported Value Measurement \| FHLB advances - long term
Financial liabilities:
FHLB advances	16,000,000
Recurring \| Reported Value Measurement \| FHLB advances - short term
Financial liabilities:
FHLB advances	4,000,000
Recurring \| Estimate of Fair Value Measurement
Financial assets:
Cash and cash equivalents	6,800,364	6,291,336
Interest-bearing time deposits	100,000	100,000
Loans held for sale	9,952,787	3,096,000
Loans, net	130,476,128	115,340,546
FHLB Stock	1,698,300	1,368,900
Bank owned life insurance	1,817,506	1,783,880
Accrued interest receivable	597,633	456,867
Financial liabilities:
Deposits	133,277,895	123,426,791
FHLB advances		12,001,000
Accrued interest payable	226,402	69,434
Recurring \| Estimate of Fair Value Measurement \| FHLB advances - long term
Financial liabilities:
FHLB advances	15,984,800
Recurring \| Estimate of Fair Value Measurement \| FHLB advances - short term
Financial liabilities:
FHLB advances	3,996,200
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial assets:
Cash and cash equivalents	6,800,364	6,291,336
Interest-bearing time deposits	100,000	100,000
Bank owned life insurance	1,817,506	1,783,880
Accrued interest receivable	597,633	456,867
Financial liabilities:
Deposits	93,333,895	90,497,791
Accrued interest payable	226,402	69,434
Recurring \| Significant Other Observable Inputs (Level 2)
Financial assets:
FHLB Stock	1,698,300	1,368,900
Financial liabilities:
FHLB advances		12,001,000
Recurring \| Significant Other Observable Inputs (Level 2) \| FHLB advances - long term
Financial liabilities:
FHLB advances	15,984,800
Recurring \| Significant Other Observable Inputs (Level 2) \| FHLB advances - short term
Financial liabilities:
FHLB advances	3,996,200
Recurring \| Significant Unobservable Inputs (Level 3)
Financial assets:
Loans held for sale	9,952,787	3,096,000
Loans, net	130,476,128	115,340,546
Financial liabilities:
Deposits	$ 39,944,000	$ 32,929,000

Commitments and Credit Risks (D

Commitments and Credit Risks (Details) - USD ($)	Jun. 30, 2024	Sep. 30, 2023
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Commitments outstanding	$ 13,427,857	$ 11,890,522
Commitments to originate loans
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Commitments outstanding	3,948,191	2,717,974
Undisbursed balance of loans closed
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Commitments outstanding	$ 9,479,666	$ 9,172,548

Earnings Per Share - (Details)

Earnings Per Share - (Details) - USD ($)	3 Months Ended		9 Months Ended
Earnings Per Share - (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share
Net income	$ 144,630	$ 287,728	$ 447,257	$ 929,629
Weighted-average shares issued	1,022,970		1,022,970
Less weighted-average unearned ESOP shares	(76,382)		(78,194)
Weighted-average shares outstanding	946,588		944,776
Earnings per share, basic	$ 0.15		$ 0.47
Earnings per share, diluted	$ 0.15		$ 0.47

Conversion to Stock Form (Detai

Conversion to Stock Form (Details)	Mar. 03, 2023 $ / shares
Conversion to Stock Form
Share price	$ 10
Subscribe of ESOP	8%