Mercer Bancorp (MSBB) 10-K14 Jan 252024 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Sep. 30, 2024	Dec. 01, 2024	Mar. 31, 2024
Document and Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Sep. 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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 0
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	FY
Amendment Flag	false
Auditor Name	S.R. Snodgrass, P.C.
Auditor Location	Cranberry Township, Pennsylvania
Auditor Firm ID	74

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Assets
Cash and due from banks	$ 2,303,569	$ 1,707,488
Interest-bearing deposits in other financial institutions	2,435,027	4,583,848
Federal funds sold	1,159,000
Cash and cash equivalents	5,897,596	6,291,336
Interest-bearing time deposits	100,000	100,000
Available-for-sale securities	11,121,278	11,449,715
Held-to-maturity securities, net of allowance for credit losses of $0	92,840	147,291
Loans held for sale	10,538,902	3,094,405
Loans receivable	146,041,635
Loans receivable		130,901,654
Allowance for credit losses	(963,268)
Allowance for credit losses		(934,331)
Net loans		129,967,323
Net loans	145,078,367
Premises and equipment	2,731,333	2,601,575
Foreclosed real estate		54,000
Federal Home Loan Bank stock	1,872,500	1,368,900
Bank owned life insurance	1,829,180	1,783,880
Accrued interest receivable	685,515	456,867
Federal Home Loan Bank lender risk account	463,873	490,411
Deferred federal income taxes	283,564	407,304
Other assets	1,053,268	833,606
Total assets	181,748,216	159,046,613
Deposits
Demand	55,139,738	50,597,494
Savings and money market	36,559,264	39,900,297
Time	42,857,955	32,317,957
Total deposits	134,556,957	122,815,748
Advances from the Federal Home Loan Bank	22,000,000	12,000,000
Directors plan liability	409,033	444,770
Accrued interest payable and other liabilities	829,193	1,108,404
Total liabilities	157,795,183	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	(763,820)	(818,380)
Shares issued to irrevocable trust	96,360	96,360
Shares held in irrevocable trust	(96,360)	(96,360)
Retained earnings	16,371,313	15,703,856
Accumulated other comprehensive loss	(323,342)	(860,326)
Total shareholders' equity	23,953,033	22,677,691
Total liabilities and shareholders' equity	$ 181,748,216	$ 159,046,613

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Consolidated Balance Sheets
Held-to-maturity securities, net of allowance for credit losses	$ 0	$ 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 ($)	12 Months Ended
Consolidated Statements of Income - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Interest Income
Loans	$ 7,591,345	$ 5,376,255
Investment securities	313,957	263,756
Interest-bearing deposits and other	342,249	362,502
Total interest income	8,247,551	6,002,513
Interest Expense
Deposits	1,733,492	485,306
Federal Home Loan Bank advances	800,582	114,566
Total interest expense	2,534,074	599,872
Net Interest Income	5,713,477	5,402,641
Provision for Credit Losses	68,000
Net Interest Income After Provision for Credit Losses	5,645,477	5,402,641
Noninterest Income
Service fees on deposits	325,059	317,324
Late charges and fees on loans	208,779	199,462
Gain on sale of loans		7,951
Loan servicing fees	38,590	44,496
Gain (loss) on sale of investments	4,311	(7,012)
Gain on sale of foreclosed real estate	26,328
Bank owned life insurance	63,699	58,819
Life insurance death benefits		4,514
Other income	179,157	19,801
Total noninterest income	845,923	645,355
Noninterest Expense
Salaries and employee benefits	2,514,918	2,197,427
Directors fees	81,425	91,900
Occupancy and equipment	506,096	452,674
Data processing fees	645,730	528,187
Franchise taxes	134,175	91,523
FDIC insurance premiums	73,925	60,279
Professional services	507,273	281,393
Deposit account services expense	277,059	248,977
Advertising	125,618	97,111
Loan expenses	288,833	101,743
Charitable contributions	10,500	617,900
Other	467,441	361,507
Total noninterest expense	5,632,993	5,130,621
Income before income taxes	858,407	917,375
Provision for income taxes	165,670	173,411
Net Income	$ 692,737	$ 743,964
Earnings per share, basic	$ 0.73
Earnings per share, diluted	$ 0.73

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
Consolidated Statements of Comprehensive Income - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Consolidated Statements of Comprehensive Income
Net Income (Loss)	$ 692,737	$ 743,964
Other comprehensive income:
Net unrealized gains on available-for-sale securities	684,038	47,716
Reclassification adjustment for realized (gain) loss on sales of securities	(4,311)	7,012
Tax expense	(142,743)	(11,492)
Other comprehensive income	536,984	43,236
Comprehensive income	$ 1,229,721	$ 787,200

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
Issuance of common stock, net of offering expenses	$ 10,229	$ 8,642,312	$ (818,380)	$ 96,360	$ (96,360)					7,834,161
Net Income (Loss)							743,964			743,964
Other comprehensive income								43,236		43,236
Ending 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)							692,737			692,737
ESOP shares allocated to participants		16,341	54,560							70,901
Other comprehensive income								536,984		536,984
Ending balance (Accounting Standards Update 2016-13) at Sep. 30, 2024						$ (25,280)			$ (25,280)
Ending balance at Sep. 30, 2024	$ 10,229	$ 8,658,653	$ (763,820)	$ 96,360	$ (96,360)		$ 16,371,313	$ (323,342)		$ 23,953,033

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Operating Activities
Net income	$ 692,737	$ 743,964
Items not requiring (providing) cash:
Depreciation and amortization	365,793	312,774
Amortization of premiums and discounts	12,001	52,852
Amortization of deferred loan fees	(71,413)	(72,384)
Deferred income taxes	(12,283)	(146,745)
Provision for credit losses	68,000
Gain on sale of loans		(7,951)
Proceeds from sales of loans		287,032
Loans originated for sale	(8,425,680)	(3,375,905)
(Gain) loss on sale of investment securities	(4,311)	7,012
Gain on sale of foreclosed assets	(26,328)
Life insurance death benefits		(4,514)
Increase in cash surrender value of bank-owned life insurance	(63,699)	(58,819)
ESOP compensation expense	98,708
Changes in:
Accrued interest receivable	(228,648)	(79,964)
Other assets	(203,517)	207,594
Other liabilities	(329,356)	502,799
Net cash used in operating activities	(8,127,996)	(1,632,255)
Investing Activities
Purchase of interest-bearing deposits in banks	(100,000)
Proceeds from maturities of interest-bearing deposits in banks	100,000
Purchases of available-for-sale securities	(2,456,102)	(2,306,536)
Proceeds from sales of available-for-sale securities	887,586	1,654,746
Proceeds from calls, maturities and paydowns of available-for-sale securities	2,570,414	1,771,915
Principal repayments on securities held-to-maturity	53,027	83,316
Net change in loans	(14,279,116)	(12,296,339)
Purchase of premises and equipment	(485,158)	(295,309)
Proceeds from redemption of FHLB stock	783,100	320,000
Purchases of FHLB stock	(1,286,700)	(298,700)
Proceeds from sale of foreclosed assets	205,996	18,000
Proceeds from death benefit of life insurance policies		4,514
Net cash used in investing activities	(14,006,953)	(11,344,393)
Financing Activities
Net increase (decrease) in deposits	11,741,209	(11,942,895)
Proceeds from FHLB advances	148,600,000	13,500,000
Repayment of FHLB advances	(138,600,000)	(4,500,000)
Proceeds from stock subscriptions		7,834,161
Net cash provided by financing activities	21,741,209	4,891,266
Decrease in Cash and Cash Equivalents	(393,740)	(8,085,382)
Cash and Cash Equivalents, Beginning of Year	6,291,336	14,376,718
Cash and Cash Equivalents, End of Year	5,897,596	6,291,336
Supplemental Disclosure of Cash Flow Information
Interest on deposits and borrowings	2,446,502	533,216
Income taxes	400,500	171,979
Supplemental Disclosure of Noncash Investing Activities
Transfers from loans to assets acquired through foreclosure	$ 125,668	$ 72,000

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	12 Months Ended
	Sep. 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 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 shares to a newly formed charitable foundation. The Bank’s employee stock ownership plan (“ESOP”) purchased 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, commercial, home equity lines of credit and installment loans. Its operations are conducted through its Principles of Consolidation The consolidated financial statements as of and for the years ended September 30, 2024 and 2023 include the accounts of Mercer Bancorp and its wholly-owned subsidiary, Mercer Savings. All intercompany transactions and balances have been eliminated in consolidation. The conversion of the Bank 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 previously 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 discovery of several 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 previously 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 stockholders’ 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 had previously 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. Cash Equivalents The Company considers all liquid investments with original maturities of three months or less to be cash equivalents. At September 30, 2024 and 2023, none of the Company’s cash accounts at nonfederal government or nongovernmental agencies exceeded FDIC insurance limits. In March 2020, the Federal Reserve's board of directors approved reducing the required reserve requirement ratios to zero percent, effectively eliminating the requirement to maintain reserve balances in cash or on deposit with the Federal Reserve Bank. This reduction in the required reserves does not have a defined timeframe and may be revised by the Federal Reserve's board in the future. Interest-bearing Time Deposits in Banks Interest-bearing time deposits have original maturities greater than one year at origination and are carried at cost. Debt Securities Debt securities held by the Company generally are classified and recorded in the financial statements as follows: Classified as Description Recorded at Held to maturity (“HTM”) Certain debt securities that management has the positive intent and ability to hold to maturity Amortized cost, net of allowance for credit losses Trading Securities that are bought and held principally for the purpose of selling in the near term and, therefore, held for only a short period of time Fair value, with changes in fair value included in earnings Available for sale (“AFS”) Securities not classified as HTM or trading Fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income (loss) Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities, identified as the call date as to premiums and maturity date as to discounts. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. 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. Lender Risk Account (LRA) The Federal Home Loan Bank (FHLB) requires institutions participating in its mortgage loan sales program to place a portion of the sale proceeds in a lender risk account. The LRA is maintained to offset any credit losses associated with loans sold to the FHLB by the participating institution as well as losses experienced by the overall loan pool should an individual institution’s LRA be fully exhausted. The loan sale agreements provide for the FHLB to begin distributions of the LRA funds to the Company after loan pools have had five years of payment history. After five years, the required LRA balance is recalculated at least annually and excess amounts are returned to the participating institutions. 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 Bank 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 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 recognizes a loan charge-off, or portion thereof, when management reasonably determines the amount of the loss. The Company 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 six months before returning a nonaccrual loan to accrual status. When cash payments are received on collateral dependent 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 modified due to financial difficulties of the borrower 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 six 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 September 30, 2024. Accrued interest receivable on available-for-sale debt securities totaled $151,047 at September 30, 2024 and is included within accrued interest balance sheet 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 $464 at September 30, 2024 and is included within accrued interest 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 collectability 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 loan modification 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 $489,780 at September 30, 2024 and is included within accrued interest receivable on the balance sheet. This amount is excluded from the estimate of expected credit losses. 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. Standards applicable prior to October 1, 2023 Investment Securities When the fair value of securities was below amortized cost, the Company’s accounting treatment for an other- than-temporary-impairment (“OTTI”) was as follows: When a credit loss component was separately recognized in earnings, the amount was identified as the total principal cash flows not expected to be received over the remaining term of the security, as projected based on cash flow projections. The Company recognized no other-than-temporary-impairments on debt securities in the year ended September 30, 2023. Allowance for Loan Losses 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 was a valuation allowance for probable incurred credit losses. Loan losses were charged against the allowance when management believed the collectability of a loan balance was doubtful. Subsequent recoveries, if any, were credited to the allowance. For periods prior to October 1, 2023 the allowance for loan losses was evaluated on a quarterly basis by management and was based upon management’s periodic review of the collectability 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 was inherently subjective as it required estimates that were susceptible to significant revision as more information became available. The allowance consisted of allocated and general components. The allocated component relates to loans that were classified as impaired. For those loans that were classified as impaired, an allowance was established when the discounted cash flows (or collateral value or observable market price) of the impaired loan was lower than the carrying value of that loan. The general component covered nonimpaired loans and was based on historical charge-off experience by segment. The historical loss experience was determined by portfolio segment and was based on the actual loss history experienced by the Bank over the prior three years. Management believed the three-year historical loss experience methodology was 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 were not fully reflected in the historical loss or risk rating data. A loan was considered impaired when, based on current information and events, it was probable that the Bank would 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 included 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 experienced insignificant payment delays and payment shortfalls generally were not classified as impaired. Management determined 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 was 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 utilized the discounted cash flows to determine the level of impairment, the Bank included the entire change in the present value of cash flows as a provision for loan losses. The fair values of collateral dependent impaired loans were based on independent appraisals of the collateral. In general, the Bank acquired an updated appraisal upon identification of impairment and annually thereafter for commercial, commercial real estate and multi-family loans. If the most recent appraisal was over a year old, and a new appraisal was not performed, due to lack of comparable values or other reasons, the existing appraisal was 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 was calculated based on the determined collateral value less selling expenses. The potential for outdated appraisal values was 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 were 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 have chosen to restructure the contractual terms of certain loans. In this scenario, the Bank attempted to work out an alternative payment schedule with the borrower in order to optimize collectability of the loan. Any loans that were modified were reviewed by the Bank to identify if a troubled debt restructuring (“TDR”) had occurred, which was when, for economic or legal reasons related to a borrower’s financial difficulties, the Bank granted a concession to the borrower that it would not have otherwise considered. Terms may have been 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 have included 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 did not result in a satisfactory arrangement, the loan was referred to legal counsel, at which time foreclosure proceedings were initiated. At any time prior to a sale of the property at foreclosure, the Bank may have terminated foreclosure proceedings if the borrower was able to work out a satisfactory payment plan. It was the Bank’s policy that any restructured loans on nonaccrual status prior to being restructured remained 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 reviewed the loan to determine if it was 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 were considered to be impaired. As a result, the determination of the amount of impaired loans for each portfolio segment within troubled debt restructurings was the same as detailed previously. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before maturity. Premises and Equipment Depreciable assets are stated at cost less accumulated depreciation. Depreciation is charged to expense using the straight-line method over the estimated useful lives of the assets. The estimated useful lives of depreciable assets are as follows: building and improvements are 5-40 years; furniture and fixtures are 5-10 years; information technology-related equipment is 3-5 years. Servicing Assets When mortgage loans are sold with servicing retained, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Servicing assets are included in other assets on the consolidated balance sheets. Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. No changes in valuation allowances have been reported on the income statements. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. Servicing fee income, which is reported on the consolidated income statement as other noninterest income, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal; or a fixed amount per loan and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. Federal Home Loan Bank Stock Federal Home Loan Bank (“FHLB”) stock is a required investment for institutions that are members of the FHLB system and the transfer of the stock is substantially restricted. The required investment in the common stock is based on a predetermined formula. FHLB stock is carried at cost. FHLB stock is evaluated for impairment on an annual basis. The Bank’s investment in FHLB stock was not impaired at September 30, 2024 and 2023. Bank Owned Life Insurance The Bank has purchased life insurance on directors. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Foreclosed Assets Held for Sale Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Revenue and expenses from operations and changes in the valuation allowance are included in net income or expense from foreclosed assets. At September 30, 2024, the Bank had no foreclosed residential real estate properties. At September 30, 2024, the Bank had no consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process. At September 30, 2023, the Bank had two consumer mortgage loans secured by residential real estate properties totaling $136,000 for which formal foreclosure proceedings were in process. Income Taxes The Company accounts for income taxes in accordance with income tax accounting guidance (Accounting Standards Codification (“ASC”) 740, Income Taxes Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. Tax positions are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment. If necessary, the Company recognizes interest and penalties on income taxes as a component of income tax expense. With a few exceptions, the Company is no longer subject to examination by tax authorities for calendar years before 2021. As of September 30, 2024 and 2023, the Company had no material uncertain income tax positions. 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 year. 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 years ended September 30, 2024 and September 30, 2023. Earnings per share is not meaningful to the fiscal year ended September 30, 2023, as the Company completed the stock offering and conversion to stock form on July 26, 2023. Comprehensive Income Comprehensive income consists of net income and other comprehensive income, net of applicable income taxes. Other comprehensive income includes unrealized appreciation (depreciation) on available-for-sale securities and, if necessary, unrealized appreciation (depreciation) on available-for-sale securities for which a portion of an other-than-temporary impairment has been recognized in income. Accumulated other comprehensive loss consists solely of the cumulative unrealized gains and losses on available-for-sale securities, net of tax. 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 obliga

Change in Accounting Principle

Change in Accounting Principle	12 Months Ended
Change in Accounting Principle	Sep. 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 on residential loans and a charge, net of tax, of $25,280 to retained earnings.

Debt Securities

Debt Securities	12 Months Ended
Debt Securities	Sep. 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: September 30, 2024 U.S. Government agencies $ 3,473,459 $ 20,089 $ (36,168) $ 3,457,380 Mortgage-backed Government Sponsored Enterprises (GSEs) 4,635,875 49,422 (211,027) 4,474,270 State and political subdivisions 3,421,238 20,904 (252,514) 3,189,628 $ 11,530,572 $ 90,415 $ (499,709) $ 11,121,278 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: September 30, 2024 Mortgage-backed Government Sponsored Enterprises (GSEs) $ 92,840 $ — $ (1,439) $ 91,401 September 30, 2023 Mortgage-backed Government Sponsored Enterprises (GSEs) $ 147,291 $ — $ (4,149) $ 143,142 The amortized cost and fair value of available-for-sale securities at September 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 September 30, 2024 Within one year $ 1,000,288 $ 986,310 One to five years 2,000,000 1,977,810 Five to ten years 473,171 493,260 After ten years 3,421,238 3,189,628 6,894,697 6,647,008 Mortgage-backed GSEs 4,635,874 4,474,270 Totals $ 11,530,571 $ 11,121,278 The carrying value of securities pledged collateral Proceeds from sales of available for sale securities totaled approximately $888,000 during the fiscal year ended September 30, 2024, resulting in gross realized gains of $13,870 and gross realized losses of $9,559 . Proceeds from sales of available for sale securities totaled approximately 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 21 and 28 securities at September 30, 2024 and 2023, respectively, was approximately $7,826,000 and $11,450,000, which is approximately 70 percent and 100 percent, 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 temporary. Should the fair value decline of any of these securities be attributed to credit-related reasons, the cost basis of the investment will be reduced and the resulting loss recognized in net income in the period identified. 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 losses has not been recorded, aggregated by investment class and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2024 and 2023: September 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 $ — $ — $ 2,964,120 $ (36,168) $ 2,964,120 $ (36,168) Mortgage-backed Government Sponsored Enterprises (GSEs) — — 2,898,583 (211,027) 2,898,583 (211,027) State and political subdivisions 341,947 (4,544) 1,621,380 (247,970) 1,963,327 (252,514) $ 341,947 $ (4,544) $ 7,484,083 $ (495,165) $ 7,826,030 $ (499,709) Held to maturity Mortgage-backed Government Sponsored Enterprises (GSEs) — $ — $ 91,402 (1,438) 91,402 (1,438) Total $ 341,947 $ (4,544) $ 7,575,485 $ (496,603) $ 7,917,432 $ (501,147) 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 $ 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 September 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 September 30, 2024 and 2023.

Loans and Allowance for Credit

Loans and Allowance for Credit Losses	12 Months Ended
Loans and Allowance for Credit Losses	Sep. 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: September 30, 2024 2023 (In thousands) Real estate loans: Residential $ 73,285,469 $ 74,561,278 Multi-family 1,259,640 1,309,586 Agricultural 53,523,748 36,378,192 Commercial 2,453,082 2,311,882 Construction and land 6,024,429 5,082,863 Home equity line of credit (HELOC) 4,959,058 4,708,023 Commercial and industrial 1,666,188 1,801,569 Consumer 5,518,844 7,652,164 Total loans 148,690,458 133,805,557 Less: Undisbursed loans in process 2,309,368 2,578,282 Net deferred loan fees 339,455 325,621 Allowance for credit losses 963,268 934,331 Net loans $ 145,078,367 $ 129,967,323 Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of these loans at September 30, 2024 and 2023, were approximately $18,048,000 and $19,667,000 , respectively. At September 30, 2024 and 2023, the mortgage-servicing rights included in other assets on the balance sheet were approximately The following tables present the activity in the allowance for credit losses based on portfolio segment for the years ended September 30, 2024 and 2023. Year Ended September 30, 2024 Effect of Provision Balance adoption of (credit) Balance October 1, 2023 ASC 326 for credit losses Charge-offs Recoveries September 30, 2024 Real estate loans: Residential $ 738,230 $ 32,000 $ (78,378) $ — $ — $ 691,852 Multi-family 12,840 — (10,315) — — 2,525 Agricultural 73,608 — 33,676 — — 107,284 Commercial 4,678 — 239 — — 4,917 Construction and land 49,835 — 42,825 — — 92,660 Home equity line of credit (HELOC) 14,289 — 621 — — 14,910 Commercial and industrial 3,645 — (331) — — 3,314 Consumer 37,206 — 74,663 (66,864) 801 45,806 Allowance for credit losses on loans $ 934,331 $ 32,000 $ 63,000 $ (66,864) $ 801 $ 963,268 The increase in the level of the allowance allocated to the agricultural loans was due primarily to the growth in that loan category. The increase in the allowance allocated to the construction loans category was due to the addition of commercial construction loans during the year, which were evaluated with a higher expected loss rate than the construction loans on residential one-to four-family real estate, and the lesser allocation on the residential real estate loans was due primarily to the decline in balances, coupled with an analysis of the economic environment and the effect on the risk factors applied to that category Year Ended September 30, 2023 Provision Balance (credit) Balance October 1, 2022 for credit losses Charge-offs Recoveries September 30, 2023 Real estate loans: Residential $ 623,649 $ 163,934 $ (49,353) $ — $ 738,230 Multi-family 11,008 1,832 — — 12,840 Agricultural 199,011 (125,403) — — 73,608 Commercial 10,801 (6,123) — — 4,678 Construction and land 35,292 14,543 — — 49,835 Home equity line of credit (HELOC) 69,234 (54,945) — — 14,289 Commercial and industrial 12,086 (8,441) — — 3,645 Consumer 22,573 14,603 — 30 37,206 Allowance for credit losses on loans $ 983,654 $ — $ (49,353) $ 30 $ 934,331 We had no loans individually evaluated at September 30, 2024. The following table present the balance in the allowance for credit losses and the recorded investment in loans based on portfolio segment and impairment method as of September 30, 2023: 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. Loans have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Bank's credit position at some future date. Substandard. Loans which are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Usually, this classification includes all 90 days or more, non-accrual, and past due loans 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 Company'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 Company'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 Company'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 Company’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 Company’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 Company’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 September 30, 2024, follows: Term Loans Amortized Cost Basis by Origination Year Revolving Loans Revolving Loans For The Years Ending September 30, Amortized Converted 2024 2023 2022 2021 2020 Prior Cost Basis to Term Total September 30, 2024 Commercial real estate Risk Rating Pass $ 372,730 $ - $ 750,005 $ 1,148,912 $ - $ 181,435 $ - $ - $ 2,453,082 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total $ 372,730 $ - $ 750,005 $ 1,148,912 $ - $ 181,435 $ - $ - $ 2,453,082 Commercial real estate Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Construction Risk Rating Pass $ 4,897,328 $ 909,827 $ 68,054 $ 66,740 $ - $ 31,698 $ - $ - $ 5,973,647 Special Mention - - - - - - - - - Substandard - - - - 50,782 - - - 50,782 Doubtful - - - - - - - - - Total $ 4,897,328 $ 909,827 $ 68,054 $ 66,740 $ 50,782 $ 31,698 $ - $ - $ 6,024,429 Construction Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial and industrial Risk Rating Pass $ - $ - $ - $ 175,600 $ 379,296 $ - $ 1,093,861 $ - $ 1,648,757 Special Mention - - - - - - - - - Substandard - - - - - - 17,431 - 17,431 Doubtful - - - - - - - - - Total $ - $ - $ - $ 175,600 $ 379,296 $ - $ 1,111,292 $ - $ 1,666,188 Commercial and industrial Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Multi Family Risk Rating Pass $ - $ - $ 955,479 $ - $ - $ 304,161 $ - $ - $ 1,259,640 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total $ - $ - $ 955,479 $ - $ - $ 304,161 $ - $ - $ 1,259,640 Multi Family Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Agricultural Risk Rating Pass $ 20,834,246 $ 11,441,930 $ 9,074,011 $ 5,754,530 $ 3,451,803 $ 2,967,228 $ - $ - $ 53,523,748 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total $ 20,834,246 $ 11,441,930 $ 9,074,011 $ 5,754,530 $ 3,451,803 $ 2,967,228 $ - $ - $ 53,523,748 Agricultural Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Total Risk Rating Pass $ 26,104,304 $ 12,351,757 $ 10,847,549 $ 7,145,782 $ 3,831,099 $ 3,484,522 $ 1,093,861 $ - $ 64,858,874 Special Mention - - - - - - - - - Substandard - - - - 50,782 - 17,431 - 68,213 Doubtful - - - - - - - - - Total $ 26,104,304 $ 12,351,757 $ 10,847,549 $ 7,145,782 $ 3,881,881 $ 3,484,522 $ 1,111,292 $ - $ 64,927,087 The Company monitors the credit risk profile by payment activity for residential, home equity and consumer loan classes. Loans past due 90 days or more and loans on nonaccrual status are considered nonperforming. Nonperforming loans are reviewed monthly. The following table presents the amortized cost in residential, home equity and consumer loans based on payment activity. Term Loans Amortized Cost Basis by Origination Year Revolving Loans Revolving Loans For The Years Ending September 30, Amortized Amortized 2024 2023 2022 2021 2020 Prior Cost Basis Cost Basis Total September 30, 2024 Residential real estate Payment Performance Performing $ 8,532,004 $ 4,752,191 $ 14,591,072 $ 18,882,083 $ 6,603,015 $ 19,655,898 $ 4,959,058 $ - $ 77,975,321 Nonperforming - - - 135,161 - 134,045 - - 269,206 Total $ 8,532,004 $ 4,752,191 $ 14,591,072 $ 19,017,244 $ 6,603,015 $ 19,789,943 $ 4,959,058 $ - $ 78,244,527 Residential real estate Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer Payment Performance Performing $ 348,272 $ 4,892,481 $ 147,659 $ 38,002 $ 30,725 $ 13,348 $ - $ - $ 5,470,487 Nonperforming - 21,841 2,327 - 3,780 20,409 - - 48,357 Total $ 348,272 $ 4,914,322 $ 149,986 $ 38,002 $ 34,505 $ 33,757 $ - $ - $ 5,518,844 Consumer Current period gross charge-offs $ - $ 66,864 $ - $ - $ - $ - $ - $ - $ 66,864 Total Payment Performance Performing $ 8,880,276 $ 9,644,672 $ 14,738,731 $ 18,920,085 $ 6,633,740 $ 19,669,246 $ 4,959,058 $ - $ 83,445,808 Nonperforming - 21,841 - 2,327 - 135,161 - 3,780 - 154,454 - - - - 317,563 Total $ 8,880,276 $ 9,666,513 $ 14,741,058 $ 19,055,246 $ 6,637,520 $ 19,823,700 $ 4,959,058 $ - $ 83,763,371 Information regarding the credit quality indicators most closely monitored for other than residential real estate loans by class as of September 30, 2023, follows: Special Pass Mention Substandard Doubtful Total 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 evaluates the loan risk grading system definitions and allowance for loan losses methodology on an ongoing basis. No significant changes were made to either during the years ended September 30, 2024 and 2023. The following tables present the Company’s loan portfolio aging analysis of the recorded investment in loans as of September 30, 2024 and 2023: September 30, 2024 Greater Than Total Loans > 30-59 Days 60-89 Days 90 Days Total Total Loans 90 Days & Past Due Past Due Past Due Past Due Current Receivable Accruing Real estate loans: Residential $ 498,008 $ 184,393 $ 269,206 $ 951,607 $ 72,333,862 $ 73,285,469 $ — Multi-family — — — — 1,259,640 1,259,640 — Agricultural — — — — 53,523,748 53,523,748 — Commercial — — — — 2,453,082 2,453,082 — Construction and land — — 50,782 50,782 5,973,647 6,024,429 — Home equity line of credit (HELOC) 74,969 — — 74,969 4,884,089 4,959,058 — Commercial and industrial 3,516 — 17,431 20,947 1,645,241 1,666,188 — Consumer 113,123 — 21,841 134,964 5,383,880 5,518,844 26,516 Total $ 689,616 $ 184,393 $ 359,260 $ 1,233,269 $ 147,457,189 $ 148,690,458 $ 26,516 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 identified as collateral dependent as of September 30, 2024 and no loans identified as individually evaluated during the year ended September 30, 2023. Non-performing loans at September 30, 2024 and 2023, were as follows: Nonaccrual Loans Loans Past Due With No Allowance With Allowance Over 90 Days Total September 30, 2024 for Credit Loss for Credit Loss Total and Still Accruing Nonperforming Residential real estate loans $ 269,206 $ — $ 269,206 $ — $ 269,206 Construction and land 50,782 — 50,782 — 50,782 Commercial and industrial 17,431 — 17,431 — 17,431 Consumer 21,841 — 21,841 26,516 48,357 Total $ 359,260 $ — $ 359,260 $ 26,516 $ 385,776 September 30, 2023 Residential real estate loans $ 477,313 There were no loans modified for borrowers experiencing financial difficulty during the years ended September 30, 2024 and 2023. There were no loans modified for borrowers experiencing financial difficulty in the past 12 months that subsequently defaulted during the years ended September 30, 2024 and 2023.

Premises and Equipment

Premises and Equipment	12 Months Ended
Premises and Equipment	Sep. 30, 2024
Premises and Equipment
Premises and Equipment	Note 5: Premises and Equipment Major classifications of premises and equipment, stated at cost, at September 30, 2024 and 2023, are as follows: September 30, 2024 2023 Land $ 483,570 $ 483,570 Buildings and improvements 4,262,590 4,261,697 Construction in progress 425,981 — Furniture and equipment 1,680,219 1,621,935 Total premises and equipment 6,852,360 6,367,202 Less accumulated depreciation 4,121,027 3,765,627 Net premises and equipment $ 2,731,333 $ 2,601,575 Depreciation expense was approximately $355,000 and $302,000 for the years ended September 30, 2024 and 2023, respectively.

Time Deposits

Time Deposits	12 Months Ended
Time Deposits	Sep. 30, 2024
Time Deposits.
Time Deposits	Note 6: Time Deposits Time deposits in denominations of $250,000 or more were $3,219,000 and $3,663,000 at September 30, 2024 and 2023, respectively. At September 30, 2024, the scheduled maturities of time deposits were as follows: September 30, 2024 Within one year $ 26,151,394 One year to two years 5,726,544 Two years to three years 444,437 Three years to four years 321,750 Four years to five years 10,073,996 Thereafter 139,834 $ 42,857,955

Borrowings

Borrowings	12 Months Ended
Borrowings	Sep. 30, 2024
Borrowings
Borrowings	Note 7: Borrowings The Bank had Federal Home Loan Bank (FHLB) advances outstanding totaling $15,000,000 and $12,000,000 as of September 30, 2024 and 2023, respectively. At September 30, 2024 and 2023, the Bank had a cash management line of credit agreement with the FHLB providing for additional borrowing of $11.0 million and $10.0 million, respectively. The Bank had The Bank has made a collateral pledge to the FHLB consisting of all shares of FHLB stock owned by the Bank and a blanket pledge of approximately $72,870,000 and $74,469,000 of its qualifying mortgage assets as of September 30, 2024 and 2023, respectively. Based on this collateral, the Bank was eligible to borrow up to a total of approximately $23,154,000 as of September 30, 2024 and of approximately $37,603,000 as of September 30, 2023. Maturities of FHLB advances were as follows at September 30, 2024: September 30, 2024 Within one year (weighted average rate 4.81%) $ 19,000,000 One year to two years (weighed average rate 5.08%) 3,000,000 $ 22,000,000 2024 2023 Balance at year end $ 18,000,000 $ 10,000,000 Average balance outstanding 13,316,712 1,643,836 Maximum month-end balance 18,000,000 10,000,000 Weighted-average rate at year-end 5.01% 5.42% Weighted-average rate during the year 5.44% 5.33%

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Sep. 30, 2024
Income Taxes
Income Taxes	Note 8: Income Taxes The provision for income taxes includes these components for the years ended September 30, 2024 and 2023: For the Year Ended September 30, 2024 2023 Taxes currently payable $ 177,953 $ 320,156 Deferred income taxes (12,283) (146,745) Income tax expense $ 165,670 $ 173,411 A reconciliation of the federal income tax expense at the statutory rate to the Company’s actual income tax expense is shown below: For the Year Ended September 30, 2024 2023 % of Pretax % of Pretax Amount Income Amount Income Computed at statutory rate (21%) $ 180,265 21.00% $ 192,649 21.00% Increase (decrease) resulting from: Bank-owned life insurance (9,513) (1.11)% (12,352) (1.35)% Nontaxable interest income on municipal securities (22,288) (2.59)% (24,121) (2.63)% Nontaxable life insurance death benefit — — (948) (0.10)% Other 17,206 2.00% 18,183 1.98% Actual income tax expense $ 165,670 19.30% $ 173,411 18.90% The composition of the Company’s net deferred tax assets and liabilities at September 30, 2024 and 2023, is as follows: September 30, 2024 2023 Deferred tax assets Allowance for credit losses $ 210,308 $ 202,051 Accrued benefits 147,423 157,114 Unrealized losses on available-for-sale securities 86,254 228,694 Charitable contributions 44,699 92,946 Other 84,152 60,433 Deferred tax assets 572,836 741,238 Deferred tax liabilities Depreciation (121,970) (121,554) Federal Home Loan Bank stock dividends (109,290) (162,732) Mortgage servicing rights (26,335) (28,593) Other (31,375) (21,055) Deferred tax liabilities (288,970) (333,934) Net deferred tax asset $ 283,866 $ 407,304 Retained earnings at each of September 30, 2024 and 2023, included approximately $909,000 for which no deferred federal income tax liability has been recognized. This amount represents an allocation of income to bad debt deductions for tax purposes only. Reduction of amounts so allocated for purposes other than tax bad debt losses or adjustments arising from carryback of net operating losses would create income for tax purposes only, which would be subject to the then-current corporate income tax rate. The deferred income tax liability on the preceding amount that would have been recorded if it was expected to reverse into taxable income in the foreseeable future was approximately $191,000 at September 30, 2024 and 2023.

Regulatory Matters

Regulatory Matters	12 Months Ended
Regulatory Matters	Sep. 30, 2024
Regulatory Matters
Regulatory Matters	Note 9: 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 September 30, 2024 and 2023, that the Bank met all capital adequacy requirements to which it is subject. As of September 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 September 30, 2024 Total Capital (to Risk-Weighted Assets) $ 21,797 16.3% $ 10,699 8.0% $ 13,374 10.0% Tier 1 Capital (to Risk-Weighted Assets) $ 20,829 15.6% $ 8,024 6.0% $ 10,699 8.0% Common Equity Tier I Capital (to Risk-Weighted Assets) $ 20,829 15.6% $ 6,018 4.5% $ 8,693 6.5% Tier I Capital (to Average Total Assets) $ 20,829 11.6% $ 7,183 4.0% $ 8,978 5.0% As of September 30, 2023 Total Capital (to Risk-Weighted Assets) $ 21,120 19.0% $ 8,897 8.0% $ 11,121 10.0% Tier 1 Capital (to Risk-Weighted Assets) $ 20,186 18.2% $ 6,672 6.0% $ 8,897 8.0% Common Equity Tier I Capital (to Risk-Weighted Assets) $ 20,186 18.2% $ 5,004 4.5% $ 7,228 6.5% Tier I Capital (to Average Total Assets) $ 20,186 13.1% $ 6,158 4.0% $ 7,697 5.0%

Related Party Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Sep. 30, 2024
Related Party Transactions
Related Party Transactions	Note 10: The Bank had loans outstanding to certain of its executive officers, directors and their related interests. Activity in these loans for the years ended September 30, 2024 and 2023, is presented in the following table. Loan balances that are no longer considered part of a related party relationship are shown as other activity. For the Year Ended September 30, 2024 2023 Balance at beginning of year $ 1,493,394 $ 1,111,400 New borrowings 100,000 585,000 Repayments (55,180) (203,006) Other (199,098) — Balance at end of year $ 1,339,116 $ 1,493,394 In management’s opinion, such loans and other extensions of credit and deposits were made in the ordinary course of business and were made on substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions with other persons. Further, in management’s opinion, these loans did not involve more than normal risk of collectability. Deposits from related parties held by the Bank at September 30, 2024 and 2023, totaled approximately $578,000 and $478,000, respectively.

Employee Benefits

Employee Benefits	12 Months Ended
Employee Benefits	Sep. 30, 2024
Employee Benefits
Employee Benefits	Note 11: 401(k) Plan The Company has a defined contribution 401(k) and profit sharing benefit plan covering substantially all employees. Employees are eligible to participate once they have reached age 21 and have completed one year of service. The Bank will make matching contributions up to 4 percent of an employee's compensation once the employee has completed 12 months of service. The Bank may make a discretionary profit sharing contribution to the plan each year. The Bank's expense for this plan totaled approximately Director Retirement Plan The Company maintains a plan to provide specified retirement benefits to each director upon their retirement from the Board. The director retirement plan expense for the years ended September 30, 2024 and 2023, was $37,000 and $44,000, respectively. The related accrued liability as of September 30, 2024 and 2023 was $409,000 and $445,000 , respectively. The decrease in liability was due to the retirement of a director. The Bank purchased Flexible Premium Universal Life Insurance Policies to use as an informal funding vehicle for the expected future payments. The cash surrender value of these policies is reflected on the Company’s consolidated balance sheets. Employee Stock Ownership Plan (ESOP) In connection with the Conversion in July 2023, the Company established a leveraged ESOP for eligible employees of the Bank. The ESOP trust purchased offering price of $10.00 per share financed by the 15 -year term loan with the Company. The interest rate of the loan is and the maturity date is December 31, 2037. The loan is secured by shares purchased with the loan proceeds and will be repaid by the ESOP with funds from the Bank’s discretionary contributions to the ESOP. When loan payments are made, ESOP shares are allocated to participants based on relative compensation. The Bank recognizes expense based on the average fair value of the shares to be allocated to the ESOP participants. Activity in the ESOP for the years ended September 30, 2024 and 2023 is as follows: For the years ended September 30, 2024 2023 Shares committed to be released to participants — — Shares allocated to participants 5,456 — Unreleased shares 76,382 81,838 ESOP shares at end of year 81,838 81,838 Fair value of unreleased shares $ 962,413 $ 1,128,546 The Company recognized expense related to the ESOP totaling $99,000 and $30,000 during the years ended September 30, 2024 and 2023, respectively.

Disclosures about Fair Value of

Disclosures about Fair Value of Assets and Liabilities	12 Months Ended
Disclosures about Fair Value of Assets and Liabilities	Sep. 30, 2024
Disclosures about Fair Value of Assets and Liabilities
Disclosures about Fair Value of Assets and Liabilities	Note 12: 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 Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 Significant unobservable inputs that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. 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 September 30, 2024 and 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) September 30, 2024 U.S. Government agencies $ 3,457,380 $ — $ 3,457,380 $ — Mortgage-backed Government Sponsored Enterprises (GSEs) 4,474,269 — 4,474,269 — State and political subdivisions 3,189,628 — 3,189,628 — 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 consolidated 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 years ended September 30, 2024 and 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 Assets that may be recorded at fair value on a nonrecurring basis include impaired loans, other real estate owned, and other repossessed assets. Other real estate owned is adjusted to fair value, less costs to sell, upon transfer of the loan to foreclosed assets, usually based on an appraisal of the property. Subsequently, foreclosed assets are carried at the lower of carrying value or fair value. Other repossessed assets are valued at estimated sales prices, less costs to sell. The inputs for other real estate owned and other repossessed assets are considered to be Level 3. The Company had no assets or liabilities The following table presents the fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2023: Fair Value Measurements Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Fair Identical Assets Observable Inputs Inputs Value (Level 1) (Level 2) (Level 3) Sepetmber 30, 2023 Foreclosed real estate $ 54,000 $ — $ — $ 54,000 The fair value for foreclosed real estate has been estimated using appraisals performed by an independent third-party. A discount The estimated fair values of the Company’s financial instruments not carried at fair value on the consolidated balance sheets are as follows: Carrying Fair Fair Value Measurements Using Value Value Level 1 Level 2 Level 3 September 30, 2024 Financial assets: Cash and cash equivalents $ 5,897,596 $ 5,897,596 $ 5,897,596 $ — $ — Interest-bearing time deposits 100,000 100,000 100,000 — — Held-to-maturity securities 92,840 91,402 — 91,402 — Loans held for sale 10,538,902 10,679,333 — — 10,679,333 Loans, net 145,078,367 135,120,682 — — 135,120,682 FHLB Stock 1,872,500 1,872,500 — 1,872,500 — Bank owned life insurance 1,829,180 1,829,180 1,829,180 — — Accrued interest receivable 685,515 685,515 685,515 — — Financial liabilities: Deposits 134,556,957 137,200,002 91,699,002 — 45,501,000 FHLB advances 22,000,000 21,993,000 — 21,993,000 — Accrued interest payable 157,006 157,006 157,006 — — 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: Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Fair value estimates may not be realizable in an immediate settlement of the instrument. In some instances, there are no quoted market prices for the Company’s various financial instruments, in which case fair values may be based on estimates using present value or other valuation techniques, or based on judgments regarding future expected loss experience, current economic conditions, risk characteristic of the financial instruments, or other factors. Those techniques are significantly affected by the assumptions used, including the discount rate and estimate of future cash flows. Subsequent changes in assumptions could significantly affect the estimates.

Commitments and Credit Risks

Commitments and Credit Risks	12 Months Ended
Commitments and Credit Risks	Sep. 30, 2024
Commitments and Credit Risks
Commitments and Credit Risks	Note 13: 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: September 30, 2024 2023 Commitments to originate loans $ 2,516,011 $ 2,717,974 Undisbursed balance of loans closed 7,495,563 9,172,548 Total $ 10,011,574 $ 11,890,522

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
Accumulated Other Comprehensive Income	Sep. 30, 2024
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income	Note 14: The components of accumulated other comprehensive income, included in consolidated shareholders’ equity, are as follows at September 30, 2024 and 2023: Unrealized Gains and Losses on Available-for- Sale Securities Accumulated other comprehensive loss at September 30, 2022 $ (903,562) Other comprehensive income 37,697 Reclassification adjustment for realized loss on sale of securities 5,539 Accumulated other comprehensive loss at September 30, 2023 (860,326) Other comprehensive income 540,390 Reclassification adjustment for realized gain on sales of securities (3,406) Accumulated other comprehensive loss at September 30, 2024 $ (323,342) For the Year Ended September 30, Affected Line Item in Consolidated 2024 2023 Statements of Income Unrealized gains (losses) on available for sale securities $ (4,311) $ 7,012 Gain (loss) on sale of investments 905 (1,473) Provision for income taxes $ (3,406) $ 5,539

Conversion to Stock Form

Conversion to Stock Form	12 Months Ended
Conversion to Stock Form	Sep. 30, 2024
Conversion to Stock Form
Conversion to Stock Form	Note 15: 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, Inc. 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, Inc. 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 ($)	12 Months Ended
Pay vs Performance Disclosure - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 692,737	$ 743,964

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 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)	12 Months Ended
	Sep. 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 shares to a newly formed charitable foundation. The Bank’s employee stock ownership plan (“ESOP”) purchased 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, commercial, home equity lines of credit and installment loans. Its operations are conducted through its
Principles of Consolidation	Principles of Consolidation The consolidated financial statements as of and for the years ended September 30, 2024 and 2023 include the accounts of Mercer Bancorp and its wholly-owned subsidiary, Mercer Savings. All intercompany transactions and balances have been eliminated in consolidation. The conversion of the Bank 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 previously 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 discovery of several 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 previously 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 stockholders’ 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 had previously 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.
Cash Equivalents	Cash Equivalents The Company considers all liquid investments with original maturities of three months or less to be cash equivalents. At September 30, 2024 and 2023, none of the Company’s cash accounts at nonfederal government or nongovernmental agencies exceeded FDIC insurance limits. In March 2020, the Federal Reserve's board of directors approved reducing the required reserve requirement ratios to zero percent, effectively eliminating the requirement to maintain reserve balances in cash or on deposit with the Federal Reserve Bank. This reduction in the required reserves does not have a defined timeframe and may be revised by the Federal Reserve's board in the future.
Interest-bearing Time Deposits in Banks	Interest-bearing Time Deposits in Banks Interest-bearing time deposits have original maturities greater than one year at origination and are carried at cost.
Debt Securities	Debt Securities Debt securities held by the Company generally are classified and recorded in the financial statements as follows: Classified as Description Recorded at Held to maturity (“HTM”) Certain debt securities that management has the positive intent and ability to hold to maturity Amortized cost, net of allowance for credit losses Trading Securities that are bought and held principally for the purpose of selling in the near term and, therefore, held for only a short period of time Fair value, with changes in fair value included in earnings Available for sale (“AFS”) Securities not classified as HTM or trading Fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income (loss) Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities, identified as the call date as to premiums and maturity date as to discounts. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method.
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.
Lender Risk Account (LRA)	Lender Risk Account (LRA) The Federal Home Loan Bank (FHLB) requires institutions participating in its mortgage loan sales program to place a portion of the sale proceeds in a lender risk account. The LRA is maintained to offset any credit losses associated with loans sold to the FHLB by the participating institution as well as losses experienced by the overall loan pool should an individual institution’s LRA be fully exhausted. The loan sale agreements provide for the FHLB to begin distributions of the LRA funds to the Company after loan pools have had five years of payment history. After five years, the required LRA balance is recalculated at least annually and excess amounts are returned to the participating institutions.
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 Bank 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 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 recognizes a loan charge-off, or portion thereof, when management reasonably determines the amount of the loss. The Company 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 six months before returning a nonaccrual loan to accrual status. When cash payments are received on collateral dependent 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 modified due to financial difficulties of the borrower 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 six 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 September 30, 2024. Accrued interest receivable on available-for-sale debt securities totaled $151,047 at September 30, 2024 and is included within accrued interest balance sheet 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 $464 at September 30, 2024 and is included within accrued interest 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 collectability 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 loan modification 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 $489,780 at September 30, 2024 and is included within accrued interest receivable on the balance sheet. This amount is excluded from the estimate of expected credit losses. 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. Standards applicable prior to October 1, 2023 Investment Securities When the fair value of securities was below amortized cost, the Company’s accounting treatment for an other- than-temporary-impairment (“OTTI”) was as follows: When a credit loss component was separately recognized in earnings, the amount was identified as the total principal cash flows not expected to be received over the remaining term of the security, as projected based on cash flow projections. The Company recognized no other-than-temporary-impairments on debt securities in the year ended September 30, 2023. Allowance for Loan Losses 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 was a valuation allowance for probable incurred credit losses. Loan losses were charged against the allowance when management believed the collectability of a loan balance was doubtful. Subsequent recoveries, if any, were credited to the allowance. For periods prior to October 1, 2023 the allowance for loan losses was evaluated on a quarterly basis by management and was based upon management’s periodic review of the collectability 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 was inherently subjective as it required estimates that were susceptible to significant revision as more information became available. The allowance consisted of allocated and general components. The allocated component relates to loans that were classified as impaired. For those loans that were classified as impaired, an allowance was established when the discounted cash flows (or collateral value or observable market price) of the impaired loan was lower than the carrying value of that loan. The general component covered nonimpaired loans and was based on historical charge-off experience by segment. The historical loss experience was determined by portfolio segment and was based on the actual loss history experienced by the Bank over the prior three years. Management believed the three-year historical loss experience methodology was 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 were not fully reflected in the historical loss or risk rating data. A loan was considered impaired when, based on current information and events, it was probable that the Bank would 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 included 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 experienced insignificant payment delays and payment shortfalls generally were not classified as impaired. Management determined 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 was 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 utilized the discounted cash flows to determine the level of impairment, the Bank included the entire change in the present value of cash flows as a provision for loan losses. The fair values of collateral dependent impaired loans were based on independent appraisals of the collateral. In general, the Bank acquired an updated appraisal upon identification of impairment and annually thereafter for commercial, commercial real estate and multi-family loans. If the most recent appraisal was over a year old, and a new appraisal was not performed, due to lack of comparable values or other reasons, the existing appraisal was 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 was calculated based on the determined collateral value less selling expenses. The potential for outdated appraisal values was 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 were 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 have chosen to restructure the contractual terms of certain loans. In this scenario, the Bank attempted to work out an alternative payment schedule with the borrower in order to optimize collectability of the loan. Any loans that were modified were reviewed by the Bank to identify if a troubled debt restructuring (“TDR”) had occurred, which was when, for economic or legal reasons related to a borrower’s financial difficulties, the Bank granted a concession to the borrower that it would not have otherwise considered. Terms may have been 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 have included 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 did not result in a satisfactory arrangement, the loan was referred to legal counsel, at which time foreclosure proceedings were initiated. At any time prior to a sale of the property at foreclosure, the Bank may have terminated foreclosure proceedings if the borrower was able to work out a satisfactory payment plan. It was the Bank’s policy that any restructured loans on nonaccrual status prior to being restructured remained 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 reviewed the loan to determine if it was 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 were considered to be impaired. As a result, the determination of the amount of impaired loans for each portfolio segment within troubled debt restructurings was the same as detailed previously.
Transfers of Financial Assets	Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before maturity.
Premises and Equipment	Premises and Equipment Depreciable assets are stated at cost less accumulated depreciation. Depreciation is charged to expense using the straight-line method over the estimated useful lives of the assets. The estimated useful lives of depreciable assets are as follows: building and improvements are 5-40 years; furniture and fixtures are 5-10 years; information technology-related equipment is 3-5 years.
Servicing Assets	Servicing Assets When mortgage loans are sold with servicing retained, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Servicing assets are included in other assets on the consolidated balance sheets. Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. No changes in valuation allowances have been reported on the income statements. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. Servicing fee income, which is reported on the consolidated income statement as other noninterest income, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal; or a fixed amount per loan and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income.
Federal Home Loan Bank Stock	Federal Home Loan Bank Stock Federal Home Loan Bank (“FHLB”) stock is a required investment for institutions that are members of the FHLB system and the transfer of the stock is substantially restricted. The required investment in the common stock is based on a predetermined formula. FHLB stock is carried at cost. FHLB stock is evaluated for impairment on an annual basis. The Bank’s investment in FHLB stock was not impaired at September 30, 2024 and 2023.
Bank Owned Life Insurance	Bank Owned Life Insurance The Bank has purchased life insurance on directors. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement.
Foreclosed Assets Held for Sale	Foreclosed Assets Held for Sale Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Revenue and expenses from operations and changes in the valuation allowance are included in net income or expense from foreclosed assets. At September 30, 2024, the Bank had no foreclosed residential real estate properties. At September 30, 2024, the Bank had no consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process. At September 30, 2023, the Bank had two consumer mortgage loans secured by residential real estate properties totaling $136,000 for which formal foreclosure proceedings were in process.
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with income tax accounting guidance (Accounting Standards Codification (“ASC”) 740, Income Taxes Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. Tax positions are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment. If necessary, the Company recognizes interest and penalties on income taxes as a component of income tax expense. With a few exceptions, the Company is no longer subject to examination by tax authorities for calendar years before 2021. As of September 30, 2024 and 2023, the Company had no material uncertain income tax positions.
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 year. 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 years ended September 30, 2024 and September 30, 2023. Earnings per share is not meaningful to the fiscal year ended September 30, 2023, as the Company completed the stock offering and conversion to stock form on July 26, 2023.
Comprehensive Income	Comprehensive Income Comprehensive income consists of net income and other comprehensive income, net of applicable income taxes. Other comprehensive income includes unrealized appreciation (depreciation) on available-for-sale securities and, if necessary, unrealized appreciation (depreciation) on available-for-sale securities for which a portion of an other-than-temporary impairment has been recognized in income. Accumulated other comprehensive loss consists solely of the cumulative unrealized gains and losses on available-for-sale securities, net of tax.
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)	12 Months Ended
Debt Securities (Tables)	Sep. 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: September 30, 2024 U.S. Government agencies $ 3,473,459 $ 20,089 $ (36,168) $ 3,457,380 Mortgage-backed Government Sponsored Enterprises (GSEs) 4,635,875 49,422 (211,027) 4,474,270 State and political subdivisions 3,421,238 20,904 (252,514) 3,189,628 $ 11,530,572 $ 90,415 $ (499,709) $ 11,121,278 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: September 30, 2024 Mortgage-backed Government Sponsored Enterprises (GSEs) $ 92,840 $ — $ (1,439) $ 91,401 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 September 30, 2024 Within one year $ 1,000,288 $ 986,310 One to five years 2,000,000 1,977,810 Five to ten years 473,171 493,260 After ten years 3,421,238 3,189,628 6,894,697 6,647,008 Mortgage-backed GSEs 4,635,874 4,474,270 Totals $ 11,530,571 $ 11,121,278
Schedule of gross unrealized losses and fair value of investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment class and length of time that individual securities have been in a continuous unrealized loss position	September 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 $ — $ — $ 2,964,120 $ (36,168) $ 2,964,120 $ (36,168) Mortgage-backed Government Sponsored Enterprises (GSEs) — — 2,898,583 (211,027) 2,898,583 (211,027) State and political subdivisions 341,947 (4,544) 1,621,380 (247,970) 1,963,327 (252,514) $ 341,947 $ (4,544) $ 7,484,083 $ (495,165) $ 7,826,030 $ (499,709) Held to maturity Mortgage-backed Government Sponsored Enterprises (GSEs) — $ — $ 91,402 (1,438) 91,402 (1,438) Total $ 341,947 $ (4,544) $ 7,575,485 $ (496,603) $ 7,917,432 $ (501,147) 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 $ 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)	12 Months Ended
Loans and Allowance for Credit Losses (Tables)	Sep. 30, 2024
Loans and Allowance for Credit Losses
Schedule of categories of loans	September 30, 2024 2023 (In thousands) Real estate loans: Residential $ 73,285,469 $ 74,561,278 Multi-family 1,259,640 1,309,586 Agricultural 53,523,748 36,378,192 Commercial 2,453,082 2,311,882 Construction and land 6,024,429 5,082,863 Home equity line of credit (HELOC) 4,959,058 4,708,023 Commercial and industrial 1,666,188 1,801,569 Consumer 5,518,844 7,652,164 Total loans 148,690,458 133,805,557 Less: Undisbursed loans in process 2,309,368 2,578,282 Net deferred loan fees 339,455 325,621 Allowance for credit losses 963,268 934,331 Net loans $ 145,078,367 $ 129,967,323
Schedule of activity in the allowance for loan losses based on portfolio segment	Year Ended September 30, 2024 Effect of Provision Balance adoption of (credit) Balance October 1, 2023 ASC 326 for credit losses Charge-offs Recoveries September 30, 2024 Real estate loans: Residential $ 738,230 $ 32,000 $ (78,378) $ — $ — $ 691,852 Multi-family 12,840 — (10,315) — — 2,525 Agricultural 73,608 — 33,676 — — 107,284 Commercial 4,678 — 239 — — 4,917 Construction and land 49,835 — 42,825 — — 92,660 Home equity line of credit (HELOC) 14,289 — 621 — — 14,910 Commercial and industrial 3,645 — (331) — — 3,314 Consumer 37,206 — 74,663 (66,864) 801 45,806 Allowance for credit losses on loans $ 934,331 $ 32,000 $ 63,000 $ (66,864) $ 801 $ 963,268 The increase in the level of the allowance allocated to the agricultural loans was due primarily to the growth in that loan category. The increase in the allowance allocated to the construction loans category was due to the addition of commercial construction loans during the year, which were evaluated with a higher expected loss rate than the construction loans on residential one-to four-family real estate, and the lesser allocation on the residential real estate loans was due primarily to the decline in balances, coupled with an analysis of the economic environment and the effect on the risk factors applied to that category Year Ended September 30, 2023 Provision Balance (credit) Balance October 1, 2022 for credit losses Charge-offs Recoveries September 30, 2023 Real estate loans: Residential $ 623,649 $ 163,934 $ (49,353) $ — $ 738,230 Multi-family 11,008 1,832 — — 12,840 Agricultural 199,011 (125,403) — — 73,608 Commercial 10,801 (6,123) — — 4,678 Construction and land 35,292 14,543 — — 49,835 Home equity line of credit (HELOC) 69,234 (54,945) — — 14,289 Commercial and industrial 12,086 (8,441) — — 3,645 Consumer 22,573 14,603 — 30 37,206 Allowance for credit losses on loans $ 983,654 $ — $ (49,353) $ 30 $ 934,331
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 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 Revolving Loans Revolving Loans For The Years Ending September 30, Amortized Converted 2024 2023 2022 2021 2020 Prior Cost Basis to Term Total September 30, 2024 Commercial real estate Risk Rating Pass $ 372,730 $ - $ 750,005 $ 1,148,912 $ - $ 181,435 $ - $ - $ 2,453,082 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total $ 372,730 $ - $ 750,005 $ 1,148,912 $ - $ 181,435 $ - $ - $ 2,453,082 Commercial real estate Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Construction Risk Rating Pass $ 4,897,328 $ 909,827 $ 68,054 $ 66,740 $ - $ 31,698 $ - $ - $ 5,973,647 Special Mention - - - - - - - - - Substandard - - - - 50,782 - - - 50,782 Doubtful - - - - - - - - - Total $ 4,897,328 $ 909,827 $ 68,054 $ 66,740 $ 50,782 $ 31,698 $ - $ - $ 6,024,429 Construction Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial and industrial Risk Rating Pass $ - $ - $ - $ 175,600 $ 379,296 $ - $ 1,093,861 $ - $ 1,648,757 Special Mention - - - - - - - - - Substandard - - - - - - 17,431 - 17,431 Doubtful - - - - - - - - - Total $ - $ - $ - $ 175,600 $ 379,296 $ - $ 1,111,292 $ - $ 1,666,188 Commercial and industrial Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Multi Family Risk Rating Pass $ - $ - $ 955,479 $ - $ - $ 304,161 $ - $ - $ 1,259,640 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total $ - $ - $ 955,479 $ - $ - $ 304,161 $ - $ - $ 1,259,640 Multi Family Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Agricultural Risk Rating Pass $ 20,834,246 $ 11,441,930 $ 9,074,011 $ 5,754,530 $ 3,451,803 $ 2,967,228 $ - $ - $ 53,523,748 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total $ 20,834,246 $ 11,441,930 $ 9,074,011 $ 5,754,530 $ 3,451,803 $ 2,967,228 $ - $ - $ 53,523,748 Agricultural Current period gross charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Total Risk Rating Pass $ 26,104,304 $ 12,351,757 $ 10,847,549 $ 7,145,782 $ 3,831,099 $ 3,484,522 $ 1,093,861 $ - $ 64,858,874 Special Mention - - - - - - - - - Substandard - - - - 50,782 - 17,431 - 68,213 Doubtful - - - - - - - - - Total $ 26,104,304 $ 12,351,757 $ 10,847,549 $ 7,145,782 $ 3,881,881 $ 3,484,522 $ 1,111,292 $ - $ 64,927,087 Special Pass Mention Substandard Doubtful Total 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
Schedule of loan portfolio aging analysis of the recorded investment in loans	September 30, 2024 Greater Than Total Loans > 30-59 Days 60-89 Days 90 Days Total Total Loans 90 Days & Past Due Past Due Past Due Past Due Current Receivable Accruing Real estate loans: Residential $ 498,008 $ 184,393 $ 269,206 $ 951,607 $ 72,333,862 $ 73,285,469 $ — Multi-family — — — — 1,259,640 1,259,640 — Agricultural — — — — 53,523,748 53,523,748 — Commercial — — — — 2,453,082 2,453,082 — Construction and land — — 50,782 50,782 5,973,647 6,024,429 — Home equity line of credit (HELOC) 74,969 — — 74,969 4,884,089 4,959,058 — Commercial and industrial 3,516 — 17,431 20,947 1,645,241 1,666,188 — Consumer 113,123 — 21,841 134,964 5,383,880 5,518,844 26,516 Total $ 689,616 $ 184,393 $ 359,260 $ 1,233,269 $ 147,457,189 $ 148,690,458 $ 26,516 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	Nonaccrual Loans Loans Past Due With No Allowance With Allowance Over 90 Days Total September 30, 2024 for Credit Loss for Credit Loss Total and Still Accruing Nonperforming Residential real estate loans $ 269,206 $ — $ 269,206 $ — $ 269,206 Construction and land 50,782 — 50,782 — 50,782 Commercial and industrial 17,431 — 17,431 — 17,431 Consumer 21,841 — 21,841 26,516 48,357 Total $ 359,260 $ — $ 359,260 $ 26,516 $ 385,776 September 30, 2023 Residential real estate loans $ 477,313

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
Premises and Equipment (Tables)	Sep. 30, 2024
Premises and Equipment
Schedule of major classifications of premises and equipment, stated at cost	September 30, 2024 2023 Land $ 483,570 $ 483,570 Buildings and improvements 4,262,590 4,261,697 Construction in progress 425,981 — Furniture and equipment 1,680,219 1,621,935 Total premises and equipment 6,852,360 6,367,202 Less accumulated depreciation 4,121,027 3,765,627 Net premises and equipment $ 2,731,333 $ 2,601,575

Time Deposits (Tables)

Time Deposits (Tables)	12 Months Ended
Time Deposits (Tables)	Sep. 30, 2024
Time Deposits.
Schedule of maturities of time deposits	September 30, 2024 Within one year $ 26,151,394 One year to two years 5,726,544 Two years to three years 444,437 Three years to four years 321,750 Four years to five years 10,073,996 Thereafter 139,834 $ 42,857,955

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
Borrowings (Tables)	Sep. 30, 2024
Borrowings
Schedule of maturities of FHLB	Maturities of FHLB advances were as follows at September 30, 2024: September 30, 2024 Within one year (weighted average rate 4.81%) $ 19,000,000 One year to two years (weighed average rate 5.08%) 3,000,000 $ 22,000,000

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Sep. 30, 2024
Income Taxes
Schedule of provision for income tax components	For the Year Ended September 30, 2024 2023 Taxes currently payable $ 177,953 $ 320,156 Deferred income taxes (12,283) (146,745) Income tax expense $ 165,670 $ 173,411
Schedule of reconciliation of federal income tax expense at statutory rate	For the Year Ended September 30, 2024 2023 % of Pretax % of Pretax Amount Income Amount Income Computed at statutory rate (21%) $ 180,265 21.00% $ 192,649 21.00% Increase (decrease) resulting from: Bank-owned life insurance (9,513) (1.11)% (12,352) (1.35)% Nontaxable interest income on municipal securities (22,288) (2.59)% (24,121) (2.63)% Nontaxable life insurance death benefit — — (948) (0.10)% Other 17,206 2.00% 18,183 1.98% Actual income tax expense $ 165,670 19.30% $ 173,411 18.90%
Schedule of net deferred tax assets and liabilities	September 30, 2024 2023 Deferred tax assets Allowance for credit losses $ 210,308 $ 202,051 Accrued benefits 147,423 157,114 Unrealized losses on available-for-sale securities 86,254 228,694 Charitable contributions 44,699 92,946 Other 84,152 60,433 Deferred tax assets 572,836 741,238 Deferred tax liabilities Depreciation (121,970) (121,554) Federal Home Loan Bank stock dividends (109,290) (162,732) Mortgage servicing rights (26,335) (28,593) Other (31,375) (21,055) Deferred tax liabilities (288,970) (333,934) Net deferred tax asset $ 283,866 $ 407,304

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
Regulatory Matters (Tables)	Sep. 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 September 30, 2024 Total Capital (to Risk-Weighted Assets) $ 21,797 16.3% $ 10,699 8.0% $ 13,374 10.0% Tier 1 Capital (to Risk-Weighted Assets) $ 20,829 15.6% $ 8,024 6.0% $ 10,699 8.0% Common Equity Tier I Capital (to Risk-Weighted Assets) $ 20,829 15.6% $ 6,018 4.5% $ 8,693 6.5% Tier I Capital (to Average Total Assets) $ 20,829 11.6% $ 7,183 4.0% $ 8,978 5.0% As of September 30, 2023 Total Capital (to Risk-Weighted Assets) $ 21,120 19.0% $ 8,897 8.0% $ 11,121 10.0% Tier 1 Capital (to Risk-Weighted Assets) $ 20,186 18.2% $ 6,672 6.0% $ 8,897 8.0% Common Equity Tier I Capital (to Risk-Weighted Assets) $ 20,186 18.2% $ 5,004 4.5% $ 7,228 6.5% Tier I Capital (to Average Total Assets) $ 20,186 13.1% $ 6,158 4.0% $ 7,697 5.0%

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
Related Party Transactions (Tables)	Sep. 30, 2024
Related Party Transactions
Schedule of bank loans outstanding to certain executive officers, directors and related interests	For the Year Ended September 30, 2024 2023 Balance at beginning of year $ 1,493,394 $ 1,111,400 New borrowings 100,000 585,000 Repayments (55,180) (203,006) Other (199,098) — Balance at end of year $ 1,339,116 $ 1,493,394

Employee Benefits (Tables)

Employee Benefits (Tables)	12 Months Ended
Employee Benefits (Tables)	Sep. 30, 2024
Employee Benefits
Schedule of activity in the ESOP	For the years ended September 30, 2024 2023 Shares committed to be released to participants — — Shares allocated to participants 5,456 — Unreleased shares 76,382 81,838 ESOP shares at end of year 81,838 81,838 Fair value of unreleased shares $ 962,413 $ 1,128,546

Disclosures about Fair Value _2

Disclosures about Fair Value of Assets and Liabilities (Tables)	12 Months Ended
	Sep. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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 September 30, 2024 Financial assets: Cash and cash equivalents $ 5,897,596 $ 5,897,596 $ 5,897,596 $ — $ — Interest-bearing time deposits 100,000 100,000 100,000 — — Held-to-maturity securities 92,840 91,402 — 91,402 — Loans held for sale 10,538,902 10,679,333 — — 10,679,333 Loans, net 145,078,367 135,120,682 — — 135,120,682 FHLB Stock 1,872,500 1,872,500 — 1,872,500 — Bank owned life insurance 1,829,180 1,829,180 1,829,180 — — Accrued interest receivable 685,515 685,515 685,515 — — Financial liabilities: Deposits 134,556,957 137,200,002 91,699,002 — 45,501,000 FHLB advances 22,000,000 21,993,000 — 21,993,000 — Accrued interest payable 157,006 157,006 157,006 — — 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 — —
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of fair value measurements of assets measured at fair value on a recurring and non-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) September 30, 2024 U.S. Government agencies $ 3,457,380 $ — $ 3,457,380 $ — Mortgage-backed Government Sponsored Enterprises (GSEs) 4,474,269 — 4,474,269 — State and political subdivisions 3,189,628 — 3,189,628 — 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 —
Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of fair value measurements of assets measured at fair value on a recurring and non-recurring basis and the level within the fair value hierarchy	Fair Value Measurements Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Fair Identical Assets Observable Inputs Inputs Value (Level 1) (Level 2) (Level 3) Sepetmber 30, 2023 Foreclosed real estate $ 54,000 $ — $ — $ 54,000

Commitments and Credit Risks (T

Commitments and Credit Risks (Tables)	12 Months Ended
Commitments and Credit Risks (Tables)	Sep. 30, 2024
Commitments and Credit Risks
Schedule of commitments outstanding	September 30, 2024 2023 Commitments to originate loans $ 2,516,011 $ 2,717,974 Undisbursed balance of loans closed 7,495,563 9,172,548 Total $ 10,011,574 $ 11,890,522

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	12 Months Ended
Accumulated Other Comprehensive Income (Tables)	Sep. 30, 2024
Accumulated Other Comprehensive Income
Schedule of components of accumulated other comprehensive income	Unrealized Gains and Losses on Available-for- Sale Securities Accumulated other comprehensive loss at September 30, 2022 $ (903,562) Other comprehensive income 37,697 Reclassification adjustment for realized loss on sale of securities 5,539 Accumulated other comprehensive loss at September 30, 2023 (860,326) Other comprehensive income 540,390 Reclassification adjustment for realized gain on sales of securities (3,406) Accumulated other comprehensive loss at September 30, 2024 $ (323,342) For the Year Ended September 30, Affected Line Item in Consolidated 2024 2023 Statements of Income Unrealized gains (losses) on available for sale securities $ (4,311) $ 7,012 Gain (loss) on sale of investments 905 (1,473) Provision for income taxes $ (3,406) $ 5,539

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies (Details)		12 Months Ended
	Jul. 26, 2023 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) item Office customer director	Sep. 30, 2023 USD ($) customer	Oct. 01, 2023 USD ($)
Property, Plant and Equipment [Line Items]
Additional paid-in capital		$ (8,658,653)	$ (8,642,312)
income tax expense		(165,670)	(173,411)
Retained earnings		(16,371,313)	(15,703,856)
Available-for-sale securities, allowance for credit losses		0
Accrued interest receivable on available-for-sale debt securities		$ 151,047
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]		Other Assets
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]		Other Assets
Held-to-maturity securities, net of allowance for credit losses		$ 0	0	$ 0
Accrued interest receivable on held-to-maturity debt securities		$ 464
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]		Other Assets
Accrued interest receivable on loans		$ 489,780
Accrued interest receivable		$ 685,515	456,867
Number of office location \| Office		4
Number of shares issued \| shares	1,022,970
Number of ESOP shares sold \| shares	81,838
ESOP shares issued as a percentage of common stock issued	8%
Amount contributed of the net proceeds from the offering	$ 4,117,000
Amount loaned to ESOP	818,000
Amount retained	$ 3,299,000
Other than temporary impairments on debt securities			$ 0
Valuation allowance		$ 0
Number of foreclosed residential real estate \| item		0
Number of consumer mortgage loan receivables \| customer		0	2
Mortgage loans foreclosure amount			$ 136,000
Dilutive Security		$ 0	0
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
Newly Formed Charitable Foundation [Member]
Property, Plant and Equipment [Line Items]
Number of shares issued \| shares	50,000
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
Cost of the conversion and issuance of common stock	$ 1,496,000
Furniture and Fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Premises and Equipment, Useful Life		5 years
Furniture and Fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Premises and Equipment, Useful Life		10 years
Technology Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Premises and Equipment, Useful Life		3 years
Technology Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Premises and Equipment, Useful Life		5 years
Building and improvements \| Minimum
Property, Plant and Equipment [Line Items]
Premises and Equipment, Useful Life		5 years
Building and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Premises and Equipment, Useful Life		40 years

Change in Accounting Principle

Change in Accounting Principle (Details) - USD ($)	1 Months Ended
Change in Accounting Principle (Details) - USD ($)	Oct. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings		$ 16,371,313	$ 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 ($)	Sep. 30, 2024	Sep. 30, 2023
Available-for-sale Securities:
Amortized cost	$ 11,530,572	$ 12,538,736
Gross Unrealized Gains	90,415
Gross Unrealized Losses	(499,709)	(1,089,021)
Approximate Fair Value	11,121,278	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	3,473,459	4,009,577
Gross Unrealized Gains	20,089
Gross Unrealized Losses	(36,168)	(184,807)
Approximate Fair Value	3,457,380	3,824,770
Mortgage-backed Government Sponsored Enterprises (GSEs)
Available-for-sale Securities:
Amortized cost	4,635,875	3,647,020
Gross Unrealized Gains	49,422
Gross Unrealized Losses	(211,027)	(414,789)
Approximate Fair Value	4,474,270	3,232,231
State and political subdivisions
Available-for-sale Securities:
Amortized cost	3,421,238	3,882,574
Gross Unrealized Gains	20,904
Gross Unrealized Losses	(252,514)	(456,580)
Approximate Fair Value	$ 3,189,628	$ 3,425,994

Debt Securities - Held-to-Matur

Debt Securities - Held-to-Maturity Fair Value to Amortized Cost (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Held-to-maturity Securities:
Amortized Cost	$ 92,840	$ 147,291
Mortgage-backed Government Sponsored Enterprises (GSEs)
Held-to-maturity Securities:
Amortized Cost	92,840	147,291
Gross Unrealized Losses	(1,439)	(4,149)
Approximate Fair Value	$ 91,401	$ 143,142

Debt Securities - Amortized Cos

Debt Securities - Amortized Cost and Fair Value of Available-for-Sale Securities by Contractual Maturity (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Available-for-Sale: Amortized Cost
Within one year	$ 1,000,288
One to five years	2,000,000
Five to ten years	473,171
After ten years	3,421,238
Subtotal	6,894,697
Amortized Cost	11,530,571
Available-for-Sale: Fair Value
Due in one year or less	986,310
Due after one through five years	1,977,810
Due after five years through ten years	493,260
Due after ten years	3,189,628
Subtotal	6,647,008
Total	11,121,278	$ 11,449,715
Mortgage-backed Government Sponsored Enterprises (GSEs)
Available-for-Sale: Amortized Cost
Securities not due at a single maturity date	4,635,874
Available-for-Sale: Fair Value
Securities not due at a single maturity date	4,474,270
Total	$ 4,474,270	$ 3,232,231

Debt Securities - Narratives (D

Debt Securities - Narratives (Details)	12 Months Ended
Debt Securities - Narratives (Details)	Sep. 30, 2024 USD ($) security	Sep. 30, 2023 USD ($) security
Debt Securities
Carrying value of securities pledged as collateral	$ 493,000	$ 468,000
Debt Securities, Available-for-Sale, Restriction Type [Extensible Enumeration]	us-gaap:AssetPledgedAsCollateralMember	us-gaap:AssetPledgedAsCollateralMember
Proceeds from sales of available-for-sale securities	$ 887,586	$ 1,654,746
Gross realized gains	13,870	5,735
Gross realized losses	$ 9,559	$ 12,747
Number of positions \| security	21	28
Available-for-sale securities	$ 11,121,278	$ 11,449,715
Total, Fair Value	$ 7,826,030	$ 11,449,715
Percentage of fair value	70%	100%

Debt Securities - Continuous Un

Debt Securities - Continuous Unrealized Loss Positions (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Available for sale, Fair Value:
Total, Fair Value	$ 7,826,030	$ 11,449,715
12 Months or More, Fair Value	7,484,083	9,968,171
Less than 12 Months, Fair Value	341,947	1,481,544
Available for sale, Unrealized Losses:
Total, Unrealized Losses	(499,709)	(1,089,021)
12 Months or More, Unrealized Losses	(495,165)	(1,017,885)
Less than 12 Months, Unrealized Losses	(4,544)	(71,136)
Held to maturity, Unrealized Losses:
Total, Fair Value	7,917,432	11,592,857
Total, Unrealized Losses	(501,147)	(1,093,170)
Less than 12 Months, Fair Value	341,947	1,481,544
12 Months or More, Fair Value	7,575,485	10,111,313
12 Months or More, Unrealized Losses	(496,603)	(1,022,034)
Less than 12 Months, Unrealized Losses	(4,544)	(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	2,964,120	3,824,770
12 Months or More, Fair Value	2,964,120	3,824,770
Available for sale, Unrealized Losses:
Total, Unrealized Losses	(36,168)	(184,807)
12 Months or More, Unrealized Losses	(36,168)	(184,807)
Mortgage-backed Government Sponsored Enterprises (GSEs)
Available for sale, Fair Value:
Total, Fair Value	2,898,583	3,232,231
12 Months or More, Fair Value	2,898,583	3,232,231
Available for sale, Unrealized Losses:
Total, Unrealized Losses	(211,027)	(414,789)
12 Months or More, Unrealized Losses	(211,027)	(414,789)
Held to maturity, Fair Value:
12 Months or More, Fair Value	91,402
Total, Fair Value		143,142
Total, Fair Value	91,402
12 Months or More, Fair Value		143,142
Held to maturity, Unrealized Losses:
12 Months or More, Unrealized Losses	(1,438)	(4,149)
Total, Unrealized Losses	(1,438)
Total, Unrealized Losses		(4,149)
State and political subdivisions
Available for sale, Fair Value:
Total, Fair Value	1,963,327	3,425,994
12 Months or More, Fair Value	1,621,380	1,944,450
Less than 12 Months, Fair Value	341,947	1,481,544
Available for sale, Unrealized Losses:
Total, Unrealized Losses	(252,514)	(456,580)
12 Months or More, Unrealized Losses	(247,970)	(385,444)
Less than 12 Months, Unrealized Losses	$ (4,544)	$ (71,136)

Loans and Allowance for Credi_3

Loans and Allowance for Credit Losses - Categories of Loans (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Categories of loans
Total loans	$ 148,690,458
Undisbursed loans in process	2,309,368
Net deferred loan fees	339,455
Allowance for credit losses	963,268
Net loans	145,078,367
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	$ 983,654
Net loans		129,967,323
Real estate loan
Categories of loans
Total loans	78,244,527
Real estate loan \| Residential
Categories of loans
Total loans	73,285,469
Allowance for credit losses	691,852
Categories of loans
Total loans		74,561,278
Allowance for credit losses		738,230	623,649
Real estate loan \| Multi-family
Categories of loans
Total loans	1,259,640
Allowance for credit losses	2,525
Categories of loans
Total loans		1,309,586
Allowance for credit losses		12,840	11,008
Real estate loan \| Agricultural
Categories of loans
Total loans	53,523,748
Allowance for credit losses	107,284
Categories of loans
Total loans		36,378,192
Allowance for credit losses		73,608	199,011
Real estate loan \| Commercial
Categories of loans
Total loans	2,453,082
Allowance for credit losses	4,917
Categories of loans
Total loans		2,311,882
Allowance for credit losses		4,678	10,801
Real estate loan \| Construction
Categories of loans
Total loans	6,024,429
Allowance for credit losses	92,660
Categories of loans
Total loans		5,082,863
Allowance for credit losses		49,835	35,292
Real estate loan \| Home equity line of credit (HELOC)
Categories of loans
Total loans	4,959,058
Allowance for credit losses	14,910
Categories of loans
Total loans		4,708,023
Allowance for credit losses		14,289	69,234
Commercial and industrial
Categories of loans
Total loans	1,666,188
Allowance for credit losses	3,314
Categories of loans
Total loans		1,801,569
Allowance for credit losses		3,645	12,086
Consumer
Categories of loans
Total loans	5,518,844
Allowance for credit losses	$ 45,806
Categories of loans
Total loans		7,652,164
Allowance for credit losses		$ 37,206	$ 22,573

Loans and Allowance for Credi_4

Loans and Allowance for Credit Losses - Narratives (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Loans and Allowance for Loan Losses
Unpaid principal balances	$ 145,078,367
Unpaid principal balances		$ 129,967,323
Allowance for credit losses		934,331	$ 983,654
Total loans	148,690,458
Individually Evaluated	0
Real estate loan
Loans and Allowance for Loan Losses
Total loans	78,244,527
Residential \| Real estate loan
Loans and Allowance for Loan Losses
Allowance for credit losses		738,230	623,649
Total loans	73,285,469
Agricultural \| Real estate loan
Loans and Allowance for Loan Losses
Allowance for credit losses		73,608	199,011
Total loans	53,523,748
Construction \| Real estate loan
Loans and Allowance for Loan Losses
Allowance for credit losses		49,835	$ 35,292
Total loans	6,024,429
Mortgage loans
Loans and Allowance for Loan Losses
Unpaid principal balances	18,048,000	19,667,000
Mortgaged-servicing rights
Loans and Allowance for Loan Losses
Servicing asset	$ 121,000	$ 132,000

Loans and Allowance for Credi_5

Loans and Allowance for Credit Losses - Allowance for loan losses (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Activity in the allowance for loan losses based on portfolio segment
Balance at end	$ 963,268
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss Before Off Balance Sheet Liability
Beginning balance	934,331
Provision (credit) for credit losses	63,000
Charge-offs	(66,864)
Recoveries	801
Ending balance	963,268	$ 934,331
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	934,331	983,654
Charge-offs		(49,353)
Recoveries		30
Balance at end		934,331
Real estate loan \| Residential
Activity in the allowance for loan losses based on portfolio segment
Provision (credit) for credit losses	78,378
Balance at end	691,852
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	738,230	623,649
Provision (credit) for credit losses		163,934
Charge-offs		(49,353)
Balance at end		738,230
Real estate loan \| Multi-family
Activity in the allowance for loan losses based on portfolio segment
Provision (credit) for credit losses	10,315
Balance at end	2,525
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	12,840	11,008
Provision (credit) for credit losses		1,832
Balance at end		12,840
Real estate loan \| Agricultural
Activity in the allowance for loan losses based on portfolio segment
Provision (credit) for credit losses	(33,676)
Balance at end	107,284
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	73,608	199,011
Provision (credit) for credit losses		(125,403)
Balance at end		73,608
Real estate loan \| Commercial
Activity in the allowance for loan losses based on portfolio segment
Provision (credit) for credit losses	(239)
Balance at end	4,917
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	4,678	10,801
Provision (credit) for credit losses		(6,123)
Balance at end		4,678
Real estate loan \| Construction
Activity in the allowance for loan losses based on portfolio segment
Provision (credit) for credit losses	(42,825)
Balance at end	92,660
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	49,835	35,292
Provision (credit) for credit losses		14,543
Balance at end		49,835
Real estate loan \| Home equity line of credit (HELOC)
Activity in the allowance for loan losses based on portfolio segment
Provision (credit) for credit losses	(621)
Balance at end	14,910
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	14,289	69,234
Provision (credit) for credit losses		(54,945)
Balance at end		14,289
Commercial and industrial
Activity in the allowance for loan losses based on portfolio segment
Provision (credit) for credit losses	331
Balance at end	3,314
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	3,645	12,086
Provision (credit) for credit losses		(8,441)
Balance at end		3,645
Consumer
Activity in the allowance for loan losses based on portfolio segment
Provision (credit) for credit losses	(74,663)
Charge-offs	(66,864)
Recoveries	801
Balance at end	45,806
Activity in the allowance for loan losses based on portfolio segment
Balance at beginning	37,206	22,573
Provision (credit) for credit losses		14,603
Recoveries		30
Balance at end		37,206
Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2016-13
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss Before Off Balance Sheet Liability
Beginning balance	32,000
Ending balance		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
Balance at end		$ 32,000

Loans and Allowance for Credi_6

Loans and Allowance for Credit Losses - Loans Evaluated for Impairment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated		$ 934,331
Loans Ending balance, evaluated for impairment
Individually Evaluated	$ 0
Collectively Evaluated		133,805,557
Real estate loan \| Residential
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated		738,230
Loans Ending balance, evaluated for impairment
Collectively Evaluated		74,561,278
Real estate loan \| Multi-family
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated		12,840
Loans Ending balance, evaluated for impairment
Collectively Evaluated		1,309,586
Real estate loan \| Agricultural
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated		73,608
Loans Ending balance, evaluated for impairment
Collectively Evaluated		36,378,192
Real estate loan \| Commercial
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated		4,678
Loans Ending balance, evaluated for impairment
Collectively Evaluated		2,311,882
Real estate loan \| Construction
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated		49,835
Loans Ending balance, evaluated for impairment
Collectively Evaluated		5,082,863
Real estate loan \| Home equity line of credit (HELOC)
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated		14,289
Loans Ending balance, evaluated for impairment
Collectively Evaluated		4,708,023
Commercial and industrial
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated		3,645
Loans Ending balance, evaluated for impairment
Collectively Evaluated		1,801,569
Consumer
Allowance for loan losses Ending balance, evaluated for impairment
Collectively Evaluated		37,206
Loans Ending balance, evaluated for impairment
Collectively Evaluated		$ 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)	Sep. 30, 2024 USD ($)
Term Loans Amortized Costs Basis by Origination Year
Total loans	$ 148,690,458
Other than residential real estate loans
Term Loans Amortized Costs Basis by Origination Year
2024	26,104,304
2023	12,351,757
2022	10,847,549
2021	7,145,782
2020	3,881,881
Prior	3,484,522
Revolving loans amortized cost basis	1,111,292
Total loans	64,927,087
Other than residential real estate loans \| Pass
Term Loans Amortized Costs Basis by Origination Year
2024	26,104,304
2023	12,351,757
2022	10,847,549
2021	7,145,782
2020	3,831,099
Prior	3,484,522
Revolving loans amortized cost basis	1,093,861
Total loans	64,858,874
Other than residential real estate loans \| Substandard
Term Loans Amortized Costs Basis by Origination Year
2020	50,782
Revolving loans amortized cost basis	17,431
Total loans	68,213
Real estate loan
Term Loans Amortized Costs Basis by Origination Year
2024	8,532,004
2023	4,752,191
2022	14,591,072
2021	19,017,244
2020	6,603,015
Prior	19,789,943
Revolving loans amortized cost basis	4,959,058
Total loans	78,244,527
Real estate loan \| Commercial
Term Loans Amortized Costs Basis by Origination Year
2024	372,730
2022	750,005
2021	1,148,912
Prior	181,435
Total loans	2,453,082
Real estate loan \| Commercial \| Pass
Term Loans Amortized Costs Basis by Origination Year
2024	372,730
2022	750,005
2021	1,148,912
Prior	181,435
Total loans	2,453,082
Real estate loan \| Construction
Term Loans Amortized Costs Basis by Origination Year
2024	4,897,328
2023	909,827
2022	68,054
2021	66,740
2020	50,782
Prior	31,698
Total loans	6,024,429
Real estate loan \| Construction \| Pass
Term Loans Amortized Costs Basis by Origination Year
2024	4,897,328
2023	909,827
2022	68,054
2021	66,740
Prior	31,698
Total loans	5,973,647
Real estate loan \| Construction \| Substandard
Term Loans Amortized Costs Basis by Origination Year
2020	50,782
Total loans	50,782
Real estate loan \| Multi-family
Term Loans Amortized Costs Basis by Origination Year
2022	955,479
Prior	304,161
Total loans	1,259,640
Real estate loan \| Multi-family \| Pass
Term Loans Amortized Costs Basis by Origination Year
2022	955,479
Prior	304,161
Total loans	1,259,640
Real estate loan \| Agricultural
Term Loans Amortized Costs Basis by Origination Year
2024	20,834,246
2023	11,441,930
2022	9,074,011
2021	5,754,530
2020	3,451,803
Prior	2,967,228
Total loans	53,523,748
Real estate loan \| Agricultural \| Pass
Term Loans Amortized Costs Basis by Origination Year
2024	20,834,246
2023	11,441,930
2022	9,074,011
2021	5,754,530
2020	3,451,803
Prior	2,967,228
Total loans	53,523,748
Real estate loan \| Performing
Term Loans Amortized Costs Basis by Origination Year
2024	8,532,004
2023	4,752,191
2022	14,591,072
2021	18,882,083
2020	6,603,015
Prior	19,655,898
Revolving loans amortized cost basis	4,959,058
Total loans	77,975,321
Real estate loan \| Nonperforming
Term Loans Amortized Costs Basis by Origination Year
2021	135,161
Prior	134,045
Total loans	269,206
Commercial and industrial
Term Loans Amortized Costs Basis by Origination Year
2021	175,600
2020	379,296
Revolving loans amortized cost basis	1,111,292
Total loans	1,666,188
Commercial and industrial \| Pass
Term Loans Amortized Costs Basis by Origination Year
2021	175,600
2020	379,296
Revolving loans amortized cost basis	1,093,861
Total loans	1,648,757
Commercial and industrial \| Substandard
Term Loans Amortized Costs Basis by Origination Year
Revolving loans amortized cost basis	17,431
Total loans	$ 17,431

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)	12 Months Ended
	Sep. 30, 2024 USD ($)
Term Loans Amortized Costs Basis by Origination Year
Total loans	$ 148,690,458
Residential and consumer loans
Term Loans Amortized Costs Basis by Origination Year
2024	8,880,276
2023	9,666,513
2022	14,741,058
2021	19,055,246
2020	6,637,520
Prior	19,823,700
Revolving loans amortized cost basis	4,959,058
Total loans	83,763,371
Residential and consumer loans \| Performing
Term Loans Amortized Costs Basis by Origination Year
2024	8,880,276
2023	9,644,672
2022	14,738,731
2021	18,920,085
2020	6,633,740
Prior	19,669,246
Revolving loans amortized cost basis	4,959,058
Total loans	83,445,808
Residential and consumer loans \| Nonperforming
Term Loans Amortized Costs Basis by Origination Year
2023	21,841
2022	2,327
2021	135,161
2020	3,780
Prior	154,454
Total loans	317,563
Real estate loan
Term Loans Amortized Costs Basis by Origination Year
2024	8,532,004
2023	4,752,191
2022	14,591,072
2021	19,017,244
2020	6,603,015
Prior	19,789,943
Revolving loans amortized cost basis	4,959,058
Total loans	78,244,527
Real estate loan \| Performing
Term Loans Amortized Costs Basis by Origination Year
2024	8,532,004
2023	4,752,191
2022	14,591,072
2021	18,882,083
2020	6,603,015
Prior	19,655,898
Revolving loans amortized cost basis	4,959,058
Total loans	77,975,321
Real estate loan \| Nonperforming
Term Loans Amortized Costs Basis by Origination Year
2021	135,161
Prior	134,045
Total loans	269,206
Real estate loan \| Residential
Term Loans Amortized Costs Basis by Origination Year
Total loans	73,285,469
Real estate loan \| Multi-family
Term Loans Amortized Costs Basis by Origination Year
2022	955,479
Prior	304,161
Total loans	1,259,640
Real estate loan \| Multi-family \| Pass
Term Loans Amortized Costs Basis by Origination Year
2022	955,479
Prior	304,161
Total loans	1,259,640
Real estate loan \| Agricultural
Term Loans Amortized Costs Basis by Origination Year
2024	20,834,246
2023	11,441,930
2022	9,074,011
2021	5,754,530
2020	3,451,803
Prior	2,967,228
Total loans	53,523,748
Real estate loan \| Agricultural \| Pass
Term Loans Amortized Costs Basis by Origination Year
2024	20,834,246
2023	11,441,930
2022	9,074,011
2021	5,754,530
2020	3,451,803
Prior	2,967,228
Total loans	53,523,748
Real estate loan \| Commercial
Term Loans Amortized Costs Basis by Origination Year
2024	372,730
2022	750,005
2021	1,148,912
Prior	181,435
Total loans	2,453,082
Real estate loan \| Commercial \| Pass
Term Loans Amortized Costs Basis by Origination Year
2024	372,730
2022	750,005
2021	1,148,912
Prior	181,435
Total loans	2,453,082
Real estate loan \| Construction
Term Loans Amortized Costs Basis by Origination Year
2024	4,897,328
2023	909,827
2022	68,054
2021	66,740
2020	50,782
Prior	31,698
Total loans	6,024,429
Real estate loan \| Construction \| Pass
Term Loans Amortized Costs Basis by Origination Year
2024	4,897,328
2023	909,827
2022	68,054
2021	66,740
Prior	31,698
Total loans	5,973,647
Real estate loan \| Construction \| Substandard
Term Loans Amortized Costs Basis by Origination Year
2020	50,782
Total loans	50,782
Real estate loan \| Home equity line of credit (HELOC)
Term Loans Amortized Costs Basis by Origination Year
Total loans	4,959,058
Consumer
Term Loans Amortized Costs Basis by Origination Year
2024	348,272
2023	4,914,322
2022	149,986
2021	38,002
2020	34,505
Prior	33,757
Total loans	5,518,844
Current period gross charge-offs
2023	66,864
Total writeoff	66,864
Consumer \| Performing
Term Loans Amortized Costs Basis by Origination Year
2024	348,272
2023	4,892,481
2022	147,659
2021	38,002
2020	30,725
Prior	13,348
Total loans	5,470,487
Consumer \| Nonperforming
Term Loans Amortized Costs Basis by Origination Year
2023	21,841
2022	2,327
2020	3,780
Prior	20,409
Total loans	48,357
Commercial and industrial
Term Loans Amortized Costs Basis by Origination Year
2021	175,600
2020	379,296
Revolving loans amortized cost basis	1,111,292
Total loans	1,666,188
Commercial and industrial \| Pass
Term Loans Amortized Costs Basis by Origination Year
2021	175,600
2020	379,296
Revolving loans amortized cost basis	1,093,861
Total loans	1,648,757
Commercial and industrial \| Substandard
Term Loans Amortized Costs Basis by Origination Year
Revolving loans amortized cost basis	17,431
Total loans	17,431
Other than residential real estate loans
Term Loans Amortized Costs Basis by Origination Year
2024	26,104,304
2023	12,351,757
2022	10,847,549
2021	7,145,782
2020	3,881,881
Prior	3,484,522
Revolving loans amortized cost basis	1,111,292
Total loans	64,927,087
Other than residential real estate loans \| Pass
Term Loans Amortized Costs Basis by Origination Year
2024	26,104,304
2023	12,351,757
2022	10,847,549
2021	7,145,782
2020	3,831,099
Prior	3,484,522
Revolving loans amortized cost basis	1,093,861
Total loans	64,858,874
Other than residential real estate loans \| Substandard
Term Loans Amortized Costs Basis by Origination Year
2020	50,782
Revolving loans amortized cost basis	17,431
Total loans	$ 68,213

Loans and Allowance for Cred_10

Loans and Allowance for Credit Losses - Aging Analysis (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Loans and Allowance for Loan Losses
Total loans	$ 148,690,458
Total loans		$ 133,805,557
Total Loans >90 Days & Accruing	26,516
Loan impaired	0	0
30 - 59 Days Past Due
Loans and Allowance for Loan Losses
Total loans	689,616
Total loans		488,497
60 - 89 Days Past Due
Loans and Allowance for Loan Losses
Total loans	184,393
Total loans		353,760
Greater than 90 Days Past Due
Loans and Allowance for Loan Losses
Total loans	359,260
Total loans		477,313
Total Past Due
Loans and Allowance for Loan Losses
Total loans	1,233,269
Total loans		1,319,570
Current
Loans and Allowance for Loan Losses
Total loans	147,457,189
Total loans		132,485,987
Real estate loan
Loans and Allowance for Loan Losses
Total loans	78,244,527
Real estate loan \| Residential
Loans and Allowance for Loan Losses
Total loans	73,285,469
Total loans		74,561,278
Real estate loan \| Residential \| 30 - 59 Days Past Due
Loans and Allowance for Loan Losses
Total loans	498,008
Total loans		482,844
Real estate loan \| Residential \| 60 - 89 Days Past Due
Loans and Allowance for Loan Losses
Total loans	184,393
Total loans		332,929
Real estate loan \| Residential \| Greater than 90 Days Past Due
Loans and Allowance for Loan Losses
Total loans	269,206
Total loans		477,313
Real estate loan \| Residential \| Total Past Due
Loans and Allowance for Loan Losses
Total loans	951,607
Total loans		1,293,086
Real estate loan \| Residential \| Current
Loans and Allowance for Loan Losses
Total loans	72,333,862
Total loans		73,268,192
Real estate loan \| Multi-family
Loans and Allowance for Loan Losses
Total loans	1,259,640
Total loans		1,309,586
Real estate loan \| Multi-family \| Current
Loans and Allowance for Loan Losses
Total loans	1,259,640
Total loans		1,309,586
Real estate loan \| Agricultural
Loans and Allowance for Loan Losses
Total loans	53,523,748
Total loans		36,378,192
Real estate loan \| Agricultural \| Current
Loans and Allowance for Loan Losses
Total loans	53,523,748
Total loans		36,378,192
Real estate loan \| Commercial
Loans and Allowance for Loan Losses
Total loans	2,453,082
Total loans		2,311,882
Real estate loan \| Commercial \| Current
Loans and Allowance for Loan Losses
Total loans	2,453,082
Total loans		2,311,882
Real estate loan \| Construction
Loans and Allowance for Loan Losses
Total loans	6,024,429
Total loans		5,082,863
Real estate loan \| Construction \| Greater than 90 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	5,973,647
Total loans		5,082,863
Real estate loan \| Home equity line of credit (HELOC)
Loans and Allowance for Loan Losses
Total loans	4,959,058
Total loans		4,708,023
Real estate loan \| Home equity line of credit (HELOC) \| 30 - 59 Days Past Due
Loans and Allowance for Loan Losses
Total loans	74,969
Real estate loan \| Home equity line of credit (HELOC) \| Total Past Due
Loans and Allowance for Loan Losses
Total loans	74,969
Real estate loan \| Home equity line of credit (HELOC) \| Current
Loans and Allowance for Loan Losses
Total loans	4,884,089
Total loans		4,708,023
Commercial and industrial
Loans and Allowance for Loan Losses
Total loans	1,666,188
Total loans		1,801,569
Commercial and industrial \| 30 - 59 Days Past Due
Loans and Allowance for Loan Losses
Total loans	3,516
Commercial and industrial \| Greater than 90 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	20,947
Commercial and industrial \| Current
Loans and Allowance for Loan Losses
Total loans	1,645,241
Total loans		1,801,569
Consumer
Loans and Allowance for Loan Losses
Total loans	5,518,844
Total loans		7,652,164
Total Loans >90 Days & Accruing	26,516
Consumer \| 30 - 59 Days Past Due
Loans and Allowance for Loan Losses
Total loans	113,123
Total loans		5,653
Consumer \| 60 - 89 Days Past Due
Loans and Allowance for Loan Losses
Total loans		20,831
Consumer \| Greater than 90 Days Past Due
Loans and Allowance for Loan Losses
Total loans	21,841
Consumer \| Total Past Due
Loans and Allowance for Loan Losses
Total loans	134,964
Total loans		26,484
Consumer \| Current
Loans and Allowance for Loan Losses
Total loans	$ 5,383,880
Total loans		$ 7,625,680

Loans and Allowance for Cred_11

Loans and Allowance for Credit Losses - Nonaccrual Loans (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Loans and Allowance for Loan Losses
Total Loans >90 Days & Accruing	$ 26,516
Nonperforming
Loans and Allowance for Loan Losses
Nonaccrual loans	359,260
Nonaccrual loans no allowance	359,260
Total Loans >90 Days & Accruing	26,516
Nonperforming loans	385,776
Real estate loan \| Residential \| Nonperforming
Loans and Allowance for Loan Losses
Nonaccrual loans	269,206
Nonaccrual loans no allowance	269,206
Nonaccrual loans		$ 477,313
Nonperforming loans	269,206
Real estate loan \| Construction \| Nonperforming
Loans and Allowance for Loan Losses
Nonaccrual loans	50,782
Nonaccrual loans no allowance	50,782
Nonperforming loans	50,782
Commercial and industrial \| Nonperforming
Loans and Allowance for Loan Losses
Nonperforming loans	17,431
Commercial and industrial \| Commercial and industrial \| Nonperforming
Loans and Allowance for Loan Losses
Nonaccrual loans	17,431
Nonaccrual loans no allowance	17,431
Consumer
Loans and Allowance for Loan Losses
Total Loans >90 Days & Accruing	26,516
Consumer \| Nonperforming
Loans and Allowance for Loan Losses
Nonaccrual loans	21,841
Nonaccrual loans no allowance	21,841
Total Loans >90 Days & Accruing	26,516
Nonperforming loans	$ 48,357

Loans and Allowance for Cred_12

Loans and Allowance for Credit Losses - Loans Modification (Details)	12 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Loans and Allowance for Credit Losses
Total Loans >90 Days & Accruing	$ 26,516
Loans modified in a troubled debt restructuring	$ 0	$ 0
Number of troubled debt restructurings modified in the past 12 months that subsequently defaulted	0	0

Premises and Equipment - Major

Premises and Equipment - Major classifications of premises and equipment, stated at cost (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Premises and Equipment
Gross premises and equipment	$ 6,852,360	$ 6,367,202
Less accumulated depreciation	4,121,027	3,765,627
Net premises and equipment	2,731,333	2,601,575
Land
Premises and Equipment
Gross premises and equipment	483,570	483,570
Buildings and improvements
Premises and Equipment
Gross premises and equipment	4,262,590	4,261,697
Construction in progress
Premises and Equipment
Gross premises and equipment	425,981
Furniture and equipment
Premises and Equipment
Gross premises and equipment	$ 1,680,219	$ 1,621,935

Premises and Equipment - Additi

Premises and Equipment - Additional information (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Premises and Equipment
Depreciation expense	$ 355,000	$ 302,000

Time Deposits (Details)

Time Deposits (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Time Deposits.
Aggregate amounts of certificates of deposit accounts in denominations of $250,000 thousand dollars or more	$ 3,219,000	$ 3,663,000

Time Deposits - Maturities of t

Time Deposits - Maturities of time deposits (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Time Deposits.
Within one year	$ 26,151,394
One year to two years	5,726,544
Two years to three years	444,437
Three years to four years	321,750
Four years to five years	10,073,996
Thereafter	139,834
Time deposits	$ 42,857,955	$ 32,317,957

Borrowings (Details)

Borrowings (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Borrowings
Federal Home Loan Bank (FHLB) Branch advances outstanding	$ 15,000,000
Federal Home Loan Bank (FHLB) advances outstanding totaling	22,000,000	$ 12,000,000
Federal Home Loan Bank, advances, general debt obligations, collateral pledged	72,870,000	74,469,000
Federal Home Loan Bank, eligible to borrow general debt obligations, collateral pledged	23,154,000	37,603,000
Cash management line of credit
Borrowings
Federal Home Loan Bank, advances, general debt obligations, amount drawn	7,000,000	0
Federal Home Loan Bank, eligible to borrow general debt obligations, collateral pledged	$ 11,000,000	$ 10,000,000

Borrowings - Schedule of maturi

Borrowings - Schedule of maturities of FHLB (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Maturities of FHLB advances
Within one year	$ 19,000,000
One year to two years	3,000,000
Total federal home loan banks	22,000,000	$ 12,000,000
Balance at year end	18,000,000	10,000,000
Average balance outstanding	13,316,712	1,643,836
Maximum month-end balance	$ 18,000,000	$ 10,000,000
Weighted-average rate at year-end	5.01%	5.42%
Weighted-average rate during the year	5.44%	5.33%
Weighted average rate, within one year	4.81%
Weighted average rate, one year to two years	5.08%

Income Taxes - Schedule of prov

Income Taxes - Schedule of provision for income tax components (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Income Taxes
Taxes currently payable	$ 177,953	$ 320,156
Deferred income taxes	(12,283)	(146,745)
Income tax expense	$ 165,670	$ 173,411

Income Taxes - Schedule of reco

Income Taxes - Schedule of reconciliation of federal income tax expense at statutory rate (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Amount:
Computed at statutory rate (21%)	$ 180,265	$ 192,649
Bank-owned life insurance	(9,513)	(12,352)
Nontaxable interest income on municipal securities	(22,288)	(24,121)
Nontaxable life insurance death benefit		(948)
Other	17,206	18,183
Income tax expense	$ 165,670	$ 173,411
Percent of Pretax Income
Statutory rate	21%	21%
Bank-owned life insurance	(1.11%)	(1.35%)
Nontaxable interest income on municipal securities	(2.59%)	(2.63%)
Nontaxable life insurance death benefit		(0.10%)
Other	2%	1.98%
Actual income tax expense	19.30%	18.90%

Income Taxes - Schedule of net

Income Taxes - Schedule of net deferred tax assets and liabilities (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Deferred tax assets
Allowance for credit losses	$ 210,308	$ 202,051
Accrued benefits	147,423	157,114
Unrealized losses on available-for-sale securities	86,254	228,694
Charitable contributions	44,699	92,946
Other	84,152	60,433
Deferred tax assets	572,836	741,238
Deferred tax liabilities
Depreciation	(121,970)	(121,554)
Federal Home Loan Bank stock dividends	(109,290)	(162,732)
Mortgage servicing rights	(26,335)	(28,593)
Other	(31,375)	(21,055)
Deferred tax liabilities	(288,970)	(333,934)
Net deferred tax asset	$ 283,866	$ 407,304

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Income Taxes
Retained earnings	$ 909,000	$ 909,000
Deferred income tax liability	$ 191,000	$ 191,000

Regulatory Matters (Details)

Regulatory Matters (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Total Capital (to Risk-Weighted Assets)
Total Capital (to Risk-Weighted Assets), Actual, Amount	$ 21,797	$ 21,120
Total Capital (to Risk-Weighted Assets), Actual, Ratio (as a percent)	0.163	0.19
Total Capital, Amount Required for Capital Adequacy Purposes, Amount	$ 10,699	$ 8,897
Total Capital, Amount Required for Capital Adequacy Purposes, Ratio (as a percent)	0.08	0.08
Total capital, Amount Required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 13,374	$ 11,121
Total capital, Amount Required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	0.10	0.10
Tier I Capital (to Risk-Weighted Assets)
Tier I Capital (to Risk-Weighted Assets), Actual, Amount	$ 20,829	$ 20,186
Tier I Capital (to Risk-Weighted Assets), Actual, Ratio (as a percent)	0.156	0.182
Tier I Capital, Amount Required for Capital Adequacy Purposes, Amount	$ 8,024	$ 6,672
Tier I Capital, Amount Required for Capital Adequacy Purposes, Ratio (as a percent)	0.06	0.06
Tier I Capital, Amount Required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 10,699	$ 8,897
Tier I Capital, Amount Required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	0.08	0.08
Common Equity Tier I Capital (to Risk-Weighted Assets)
Common Equity Tier I Capital (to Risk-Weighted Assets), Actual, Amount	$ 20,829	$ 20,186
Common Equity Tier I Capital (to Risk-Weighted Assets), Actual, Ratio (as a percent)	0.156	0.182
Common Equity Tier I Capital, Amount Required for Capital Adequacy Purposes, Amount	$ 6,018	$ 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	$ 8,693	$ 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	$ 20,829	$ 20,186
Tier 1 Capital (Average Total Assets), Actual, Ratio (as a percent)	0.116	0.131
Tier 1 Capital (Average Total Assets), Amount Required for Capital Adequacy Purposes, Amount	$ 7,183	$ 6,158
Tier 1 Capital (Average Total Assets), Amount Required for Capital Adequacy Purposes, Ratio (as a percent)	0.04	0.04
Tier 1 Capital (Average Total Assets), Amount Required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 8,978	$ 7,697
Tier 1 Capital (Average Total Assets), Amount Required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	0.05	0.05

Related Party Transactions - Sc

Related Party Transactions - Schedule of bank loans outstanding to certain executive officers, directors and their related interests (Details) - Certain executive officers, directors & their related interests - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Loans and Leases Receivable, Related Parties [Roll Forward]
Balance at beginning of year	$ 1,493,394	$ 1,111,400
New borrowings	100,000	585,000
Repayment	(55,180)	(203,006)
Other	(199,098)
Balance at end of year	$ 1,339,116	$ 1,493,394

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Related Party Transactions
Deposits from related parties	$ 578,000	$ 478,000

Employee Benefits - 401(k) Plan

Employee Benefits - 401(k) Plan (Details) - Other postretirement benefit plan - 401(k) Plan - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Employee Benefits
Eligible service period	1 year
Employer matching contribution (as a percent)	4%
Defined contribution expense	$ 170,000	$ 153,000

Employee Benefits - Director Re

Employee Benefits - Director Retirement Plan (Details) - Other postretirement benefit plan - Director Retirement Plan - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Employee Benefits
Retirement plan expense	$ 37,000	$ 44,000
Retirement plan accrued liability	$ 409,000	$ 445,000

Employee Benefits - Employee St

Employee Benefits - Employee Stock Ownership Plan (Details) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Jul. 31, 2023	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Employee Benefits
Number of shares in ESOP	81,838
Purchase price of shares held in ESOP (in dollars per share)	$ 10
ESOP loan description			financed by the 15-year term loan with the Company. The interest rate of the loan is 8.50% and the maturity date is December 31, 2037. The loan is secured by shares purchased with the loan proceeds and will be repaid by the ESOP with funds from the Bank’s discretionary contributions to the ESOP.
ESOP loan term				15 years
ESOP loan interest rate		8.50%
ESOP compensation expense			$ 99,000	$ 30,000

Employee Benefits - Activity in

Employee Benefits - Activity in the ESOP (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Employee Benefits
ESOP shares at beginning of year	81,838
Shares committed to be released to participants	0	0
Shares allocated to participants	5,456	0
Unreleased shares	76,382	81,838
ESOP shares at end of year	81,838	81,838
Fair value of unreleased shares	$ 962,413	$ 1,128,546

Disclosures about Fair Value _3

Disclosures about Fair Value of Assets and Liabilities - Assets Measured at Fair Value (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 11,121,278	$ 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	3,457,380	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	4,474,270	3,232,231
State and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,189,628	$ 3,425,994
Foreclosed real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, extensible list		Discount rate
Foreclosed real estate \| Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input		0.10
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	$ 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	3,457,380	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	4,474,269	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	3,189,628	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	3,457,380	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	4,474,269	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	3,189,628	3,425,994
Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities measured at fair value	0
Assets measured at fair value	$ 0
Nonrecurring \| Foreclosed real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		54,000
Nonrecurring \| Significant Unobservable Inputs (Level 3) \| Foreclosed real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		$ 54,000

Disclosures about Fair Value _4

Disclosures about Fair Value of Assets and Liabilities - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Financial assets:
Held-to-maturity securities	$ 92,840	$ 147,291
Bank owned life insurance	1,829,180	1,783,880
Recurring \| Reported Value Measurement
Financial assets:
Cash and cash equivalents	5,897,596	6,291,336
Interest-bearing time deposits	100,000	100,000
Held-to-maturity securities	92,840
Loans held for sale	10,538,902	3,094,405
Loans, net	145,078,367	129,967,323
FHLB Stock	1,872,500	1,368,900
Bank owned life insurance	1,829,180	1,783,880
Accrued interest receivable	685,515	456,867
Financial liabilities:
Deposits	134,556,957	122,815,748
FHLB advances	22,000,000	12,000,000
Accrued interest payable	157,006	69,434
Recurring \| Estimate of Fair Value Measurement
Financial assets:
Cash and cash equivalents	5,897,596	6,291,336
Interest-bearing time deposits	100,000	100,000
Held-to-maturity securities	91,402
Loans held for sale	10,679,333	3,096,000
Loans, net	135,120,682	115,340,546
FHLB Stock	1,872,500	1,368,900
Bank owned life insurance	1,829,180	1,783,880
Accrued interest receivable	685,515	456,867
Financial liabilities:
Deposits	137,200,002	123,426,791
FHLB advances	21,993,000	12,001,000
Accrued interest payable	157,006	69,434
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial assets:
Cash and cash equivalents	5,897,596	6,291,336
Interest-bearing time deposits	100,000	100,000
Bank owned life insurance	1,829,180	1,783,880
Accrued interest receivable	685,515	456,867
Financial liabilities:
Deposits	91,699,002	90,497,791
Accrued interest payable	157,006	69,434
Recurring \| Significant Other Observable Inputs (Level 2)
Financial assets:
Held-to-maturity securities	91,402
FHLB Stock	1,872,500	1,368,900
Financial liabilities:
FHLB advances	21,993,000	12,001,000
Recurring \| Significant Unobservable Inputs (Level 3)
Financial assets:
Loans held for sale	10,679,333	3,096,000
Loans, net	135,120,682	115,340,546
Financial liabilities:
Deposits	$ 45,501,000	$ 32,929,000

Commitments and Credit Risks (D

Commitments and Credit Risks (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Commitments outstanding	$ 10,011,574	$ 11,890,522
Commitments to originate loans
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Commitments outstanding	2,516,011	2,717,974
Undisbursed balance of loans closed
Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]
Commitments outstanding	$ 7,495,563	$ 9,172,548

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($)	12 Months Ended
Accumulated Other Comprehensive Income (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Components of accumulated other comprehensive income
Beginning balance	$ 22,677,691	$ 14,056,330
Reclassification adjustment for realized loss (gain) on sale of securities	(3,406)	5,539
Ending balance	23,953,033	22,677,691
Unrealized gains (losses) on available for sale securities, tax	905	(1,473)
Accumulated Other Comprehensive Loss
Components of accumulated other comprehensive income
Beginning balance	(860,326)	(903,562)
Other comprehensive income	540,390	37,697
Reclassification adjustment for realized loss (gain) on sale of securities	(3,406)	5,539
Ending balance	(323,342)	(860,326)
Unrealized gains and losses on available for sale securities
Components of accumulated other comprehensive income
Unrealized gains (losses) on available for sale securities	$ (4,311)	$ 7,012

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%