Gouverneur Bancorp (GOVB) 10-Q 10 May 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2024	May 10, 2024
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	000-56605
Entity Registrant Name	Gouverneur Bancorp, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	37-2102925
Entity Address, Address Line One	42 Church Street
Entity Address, City or Town	Gouverneur
Entity Address State Or Province	NY
Entity Address, Postal Zip Code	13642
City Area Code	315
Local Phone Number	287-2600
Title of 12(b) Security	None
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,107,134
Entity Central Index Key	0001978811
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Assets:
Cash and due from banks	$ 8,357	$ 9,306
Interest-bearing deposits in bank	1,756	1,101
Total cash and cash equivalents	10,113	10,407
Time Deposits in other financial institutions	245	484
Securities available-for-sale, at fair value	47,902
Securities available-for-sale, at fair value		46,624
Loans receivable, net of allowance for credit losses: March 31, 2024: $1,062 and September 30, 2023: $623 net of discount at March 31, 2024: $907 and September 30, 2023: $992	123,722	125,427
Investments in restricted stock, at cost	1,045	1,471
Bank owned life insurance	7,059	6,984
Premises and equipment, net	2,951	3,073
Foreclosed real estate, net	39	101
Core deposit intangible	1,872	2,080
Goodwill	4,237	4,237
Accrued interest receivable and other assets	4,520	4,997
Total assets	203,705	205,885
Deposits:
Non-interest-bearing demand	17,990	25,052
NOW and money market	55,581	42,625
Savings and club	58,875	66,570
Time certificates	30,321	24,531
Total deposits	162,767	158,778
Advances from the Federal Home Loan Bank	5,000	13,990
Advanced payments from borrowers for taxes and insurance	542	443
Accrued interest payable and other liabilities	3,661	7,566
Total liabilities	171,970	180,777
Shareholders' Equity:
Preferred stock, $.01 par value: March 31, 2024: 25,000,000 shares authorized; none issued September 30, 2023: 1,000,000 shares authorized; none issued
Common stock, $.01 par value: March 31, 2024: 75,000,000 shares authorized; 1,107,134 shares issued September 30, 2023: 9,000,000 shares authorized; 2,031,377 shares issued	11	24
Additional paid-in capital	6,487	5,035
Unearned common stock held by employee stock ownership plan (unallocated shares March 31, 2024: 53,989: September 30, 2023: 0)	(540)
Retained earnings	28,094	28,242
Accumulated other comprehensive loss	(2,317)	(4,123)
Treasury Stock, at cost, (shares March 31, 2024: 0: September 30, 2023: 352,231)		(4,070)
Total shareholders' equity	31,735	25,108
Total liabilities and shareholders' equity	$ 203,705	$ 205,885

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
Net Discounts on Acquired Loans		$ 992
Allowance for loan losses		623
Allowance for credit losses	$ 1,062	623
Net of discount	$ 907	$ (992)
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	75,000,000	9,000,000
Common stock, shares issued	1,107,134	2,031,377
Unallocated unearned common stock held by employee stock ownership plan, shares	53,989	0
Treasury stock, shares	0	352,231

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Interest income:
Loans, net	$ 1,630,000	$ 1,487,000	$ 3,231,000	$ 2,969,000
Net swap income on loan hedge		13,000		40,000
Securities-taxable	348,000	356,000	705,000	693,000
Securities-non-taxable	150,000	131,000	296,000	276,000
Other short-term investments	17,000	31,000	41,000	54,000
Total interest income	2,145,000	2,018,000	4,273,000	4,032,000
Interest expense:
Deposits	292,000	67,000	535,000	122,000
Net swap income on deposit hedge		(45,000)		(76,000)
Borrowings - short term and long term	75,000	47,000	206,000	53,000
Net swap income on borrowing hedge	(30,000)		(80,000)
Total interest expense	337,000	69,000	661,000	99,000
Net interest income	1,808,000	1,949,000	3,612,000	3,933,000
Provision for credit losses - Loans		47,000	68,000	62,000
Unfunded commitments			2,000
Net interest income after provision for credit losses	1,808,000	1,902,000	3,542,000	3,871,000
Non-interest income:
Service charges	75,000	77,000	161,000	169,000
Realized loss on sales of securities - AFS		(319,000)		(661,000)
Realized gain on swap unwound		310,000	75,000	654,000
Earnings on investment in life insurance	38,000	35,000	75,000	70,000
Earnings on deferred fees plan	33,000	14,000	45,000	41,000
Unrealized loss on swap agreements	(38,000)	(387,000)	(181,000)	(823,000)
Earnings on MPF and MAP programs	9,000	11,000	20,000	21,000
Other non-interest income	79,000	78,000	148,000	158,000
Total non-interest income (loss), net	196,000	(181,000)	343,000	(371,000)
Non-interest expenses:
Salaries and employee benefits	880,000	874,000	1,743,000	1,676,000
Directors fees	90,000	72,000	176,000	143,000
Earnings on deferred fees plan	33,000	14,000	45,000	41,000
Building, occupancy and equipment	258,000	270,000	497,000	511,000
Data processing	120,000	119,000	226,000	228,000
Postage and supplies	47,000	36,000	71,000	81,000
Professional fees	192,000	120,000	341,000	226,000
Intangibles & deposit premium amortization	104,000	114,000	208,000	229,000
Foreclosed assets, net	5,000	8,000	9,000	31,000
Other non-interest expense	190,000	213,000	383,000	442,000
Total non-interest expenses	1,919,000	1,840,000	3,699,000	3,608,000
Income (loss) before income tax benefit	85,000	(119,000)	186,000	(108,000)
Income tax benefit	(17,000)	(72,000)	(34,000)	$ (108,000)
Net income (loss)	$ 102,000	$ (47,000)	$ 220,000
Earnings per common share - basic	$ 0.10	$ (0.02)	$ 0.21
Earnings per common share - diluted	$ 0.10	$ (0.02)	$ 0.21

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited)
Net Income (Loss)	$ 102	$ (47)	$ 220
Unrealized gain (loss) on securities:
Unrealized holding gain (loss) arising during period	(542)	771	2,224	$ 2,077
Deferred Tax expense (benefit)	(114)	162	467	436
Unrealized holding gain (loss), net of deferred taxes	(428)	609	1,757	1,641
Post-retirement benefit	3	46	62	92
Deferred Tax expense	1	10	13	19
Post-retirement benefit, net of deferred taxes	2	36	49	73
Total other comprehensive income (loss)	(426)	645	1,806	1,714
Total comprehensive income (loss)	$ (324)	$ 598	$ 2,026	$ 1,714

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Unearned Common Stock held by ESOP	Retained Earnings Adoption of ASU 2016-13 Current Expected Credit Losses	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Adoption of ASU 2016-13 Current Expected Credit Losses	Total
Beginning balance at Sep. 30, 2022	$ 24	$ 5,035			$ 28,128	$ (4,070)	$ (4,288)		$ 24,829
Comprehensive income:
Net pension and postretirement benefit, net of taxes							73		73
Change in unrealized losses on securities available-for-sale, net of reclassification adjustment and tax effects							1,641		1,641
Total comprehensive income (loss)									1,714
Cash dividends declared					(204)				(204)
Ending balance at Mar. 31, 2023	24	5,035			27,924	(4,070)	(2,574)		26,339
Beginning balance at Dec. 31, 2022	24	5,035			28,174	(4,070)	(3,219)		25,944
Comprehensive income:
Net income (loss)					(47)				(47)
Net pension and postretirement benefit, net of taxes							36		36
Change in unrealized losses on securities available-for-sale, net of reclassification adjustment and tax effects							609		609
Total comprehensive income (loss)									598
Cash dividends declared					(203)
Ending balance at Mar. 31, 2023	24	5,035			27,924	(4,070)	(2,574)		26,339
Beginning balance at Sep. 30, 2023	24	5,035			28,242	(4,070)	(4,123)		25,108
Comprehensive income:
Net income (loss)					220				220
Net pension and postretirement benefit, net of taxes							49		49
Change in unrealized losses on securities available-for-sale, net of reclassification adjustment and tax effects							1,757		1,757
Total comprehensive income (loss)									2,026
Net proceeds from stock offering and holding company conversion		4,932							4,932
Common stock issued in stock offering (1,107,134 shares)	11	(11)
Cancellation of common stock (2,031,377 shares)	(20)	20
Cancellation of treasury stock (352,231 shares)	(4)	(4,066)				$ 4,070
Purchase of ESOP shares (57,845 shares)		578	$ (578)
ESOP shares committed to be released (3,856 shares)		(1)	38						37
Ending balance at Mar. 31, 2024	11	6,487	(540)	$ (368)	28,094		(2,317)	$ (368)	31,735
Beginning balance at Dec. 31, 2023	11	6,487	(540)		27,992		(1,891)		32,059
Comprehensive income:
Net income (loss)					102				102
Net pension and postretirement benefit, net of taxes							2		2
Change in unrealized losses on securities available-for-sale, net of reclassification adjustment and tax effects							(428)		(428)
Total comprehensive income (loss)									(324)
Ending balance at Mar. 31, 2024	$ 11	$ 6,487	$ (540)	$ (368)	$ 28,094		$ (2,317)	$ (368)	$ 31,735

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Mar. 31, 2024
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
Cash dividends declared, per share	$ 0.10	$ 0.10
Common stock issued in stock offering		1,107,134
Cancellation of common stock		2,031,377
Cancellation of treasury stock		352,231
Employee stock ownership		57,845
ESOP shares committed to be released		3,856

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net Income	$ 220
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Provision for credit loss	70	$ 62
Net amortization of deferred fees on loans	37	50
Net amortization of securities premiums and discounts	(332)	(352)
Depreciation	128	111
Net realized losses on securities available for sale		661
Net amortization of core deposits intangible	208	231
Loss on subsequent write-downs of REOs		23
Net realized losses on sale of foreclosed assets	2
ESOP committed to be released	37
Earnings on investment in life insurance	(75)	(70)
(Increase) decrease in accrued interest receivable and other assets	(4)	84
Decrease in accrued interest payable and other liabilities	(3,843)	(156)
Net cash (used in) provided by operating activities	(3,552)	644
Securities available for sale:
Proceeds from sales of securities Available for Sale (AFS)		4,988
Proceeds from maturities and principal reductions of securities (AFS)	3,784	2,008
Purchases of securities (AFS)	(2,266)	(5,035)
(Purchases) redemptions of FHLB stock	426	(382)
Net decrease in loans receivable	1,257	546
Additions to premises and equipment	(6)	(148)
Proceeds from the sale of foreclosed assets	33	52
Net cash provided by investing activities	3,228	2,029
Cash flows from financing activities:
Net increase (decrease) in deposits	3,989	(18,055)
Net increase (decrease) in short-term borrowings	(8,990)	8,900
Advance payments by borrowers for property taxes and insurance, net	99	71
Net stock offering proceeds	4,932
Cash dividends paid to common stock shareholders		(204)
Net cash provided by (used in) financing activities	30	(9,288)
Net decrease in cash and cash equivalents	(294)	(6,615)
Cash and cash equivalents - Beginning of Period	10,407	14,344
Cash and cash equivalents - End of Period	10,113	7,729
Supplemental disclosures:
Cash paid during the period for interest	686	110
Loans receivable transferred to foreclosed assets during the period		$ 58
Write-downs on foreclosed assets through the allowance for credit losses on loans	$ (27)

Basis of Presentation

Basis of Presentation	6 Months Ended
	Mar. 31, 2024
Basis of Presentation
Basis of Presentation	Note 1: Basis of Presentation The accompanying consolidated financial statements include the accounts of Gouverneur Bancorp, Inc. (“Bancorp”) and Gouverneur Savings and Loan Association (the “Bank”), the wholly owned and only direct subsidiary of Bancorp, and GS&L Municipal Bank, the wholly owned and only subsidiary of the Bank, (collectively referred to as the “Company”) as of March 31, 2024 (unaudited) and September 30, 2023 and for the three and six-month periods ended March 31, 2024 and 2023 (unaudited). These consolidated financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include information or footnotes necessary for a complete presentation of financial condition, results of operations, and cash flows in conformity with generally accepted accounting principles in the United States of America. Bancorp is a Maryland corporation that was incorporated in June 2023 to be the successor to Gouverneur Bancorp, Inc., a federally chartered corporation (the “Mid-Tier Holding Company”), upon completion of the second-step conversion of the Bank from the two-tier mutual holding company structure to the stock holding company structure. Cambray Mutual Holding Company (“Cambray”) was the former mutual holding company for the Mid-Tier Holding Company prior to the completion of the second-step conversion. In conjunction with the second-step conversion, each of Cambray Mutual Holding Company and the Mid-Tier Holding Company merged out of existence and now cease to exist. The second-step conversion was completed on October 31, 2023, at which time the Company sold, for gross proceeds of $7.2 million, a total of 723,068 shares of common stock at $10.00 per share, including 57,845 shares sold to the Bank’s employee stock ownership plan. As part of the second-step conversion, each of the existing outstanding shares of Mid-Tier Holding Company common stock owned by persons other than Cambray Mutual Holding Company was converted into 0.5334 shares of Bancorp common stock. As a result of the second-step conversion, all share information has been subsequently revised to reflect the 0.5334 exchange ratio, unless otherwise noted. On September 16, 2022, the Bank completed its acquisition of Citizens Bank of Cape Vincent (“CBCV”), Cape Vincent, New York, a commercial bank with full-service offices in the villages of Cape Vincent, Chaumont and LaFargeville. At the effective time of the acquisition, CBCV was merged with and into Gouverneur Savings and Loan Association and each CBCV stockholder became entitled to receive $1,056.11 in cash for each share of CBCV common stock that they held at the effective time of the merger. ​ In conjunction with the acquisition of CBCV in September 2022, the Bank formed the limited purpose GS&L Municipal Bank in order to continue to hold CBCV’s roughly $24,187,000 in municipal deposits and continue to compete for such deposits in the future. GS&L Municipal Bank is a limited purpose commercial bank that is a wholly owned subsidiary of the Bank and operates under the same regulatory and operating framework as the Bank. The formation of GS&L Municipal Bank included an initial $2.5 million contribution from the Bank. GS&L Municipal Bank is a New York chartered limited purpose commercial bank organized to solicit municipal deposits from local government entities such as towns, cities, school districts, fire districts and other municipalities. The Bank views GS&L Municipal Bank as a source of low cost and stable source of funds that will further the Bank’s commitment to the communities in which the Bank operates. ​ In the opinion of management, all adjustments, consisting of only normal recurring adjustments or accruals, which are necessary for a fair presentation of the consolidated financial statements have been made at and for the three-month and six-month periods ended March 31, 2024 and 2023. The results of operations for the three and six-month periods ended March 31, 2024 are not necessarily indicative of the results which may be expected for an entire fiscal year or any other period. The data in the consolidated statements of financial condition for September 30, 2023 was derived from the Company’s audited consolidated financial statements for the year ended September 30, 2023. That data, along with the interim financial information presented in the consolidated statements of financial condition, earnings, comprehensive income (loss), shareholders’ equity and cash flows should be read in conjunction with the Company’s audited consolidated financial statements as of and for the year ended September 30, 2023, including the notes thereto. Certain amounts for the three-month and six-month periods ended March 31, 2023 were reclassified to conform to the presentation of March 31, 2024.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Mar. 31, 2024
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 2: Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements of the Company include the accounts of Bancorp and its wholly-owned subsidiary, the Bank, and the Bank’s wholly owned subsidiary, GS&L Municipal Bank. ​ At March 31, 2024, GS&L Municipal Bank held $27.6 million of the Bank’s $47.9 million investment securities portfolio and $25.6 million of the Bank’s deposits. All significant intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates in Preparation of Financial Statements The preparation of consolidated 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 consolidated 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 loan losses. In connection with the determination of the estimated loan losses, management obtains independent appraisals for significant properties. The Company’s loans are generally secured by specific items of collateral including real property, consumer assets, and business assets. Although the Company has a diversified portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on local economic conditions. While management uses available information to recognize losses on loans and foreclosed assets, further reductions in the carrying amounts of loans and foreclosed assets may be necessary, based on changes in local economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans and foreclosed assets. Such agencies may require the Company to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans and foreclosed assets may change materially in the near term. However, the amount of the change that is reasonably possible cannot be estimated. Recent Accounting Pronouncements The Company’s significant accounting policies followed in the preparation of the unaudited consolidated financial statements are disclosed in Note 2 of the audited financial statements and notes for the year ended September 30, 2023 and are contained in the Company’s Annual Report on Form 10-K for the year ended September 30, 2023. There have been no significant changes to the application of significant accounting policies since September 30, 2023, except for the following: On October 1, 2023, the Company adopted ASU 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASC 326) required an estimate of credit losses for the remaining estimated life of the financial asset using historical experience, current conditions, and reasonable and supportable forecasts and generally applies to financial assets measured at amortized cost, including loan receivables and held-to-maturity debt securities, and some off-balance sheet credit exposures such as unfunded commitments to extend credit. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit losses. In addition, CECL made changes to the accounting for available for sale debt securities. One such change is to require that credit losses be presented as an allowance rather than as a write-down on available for sale debt securities if management does not intend to sell and does not believe that it is more likely than not that the Company will be required to sell. The Company adopted ASC 326 and all related subsequent amendments thereto effective October 1, 2023 using the modified retrospective approach for all financial assets measured at amortized cost and off-balance sheet credit exposures. The transition adjustment of the adoption of CECL included an increase in the allowance for credit losses on loans of $436,000, which is presented as a reduction to net loans outstanding, and an increase in the allowance for credit losses on unfunded loan commitments of $29,000, which is recorded within Other Liabilities on the accompanying statements of financial condition. The Company recorded a net decrease to retained earnings of $368,000 as of October 1, 2023 for the cumulative effect of adopting CECL, which reflects the transition adjustments noted above, net of the applicable deferred tax assets recorded. Results for reporting periods beginning after October 1, 2023 are presented under CECL while prior period amounts continue to be reported in accordance with previously applicable accounting standards (“Incurred Loss”). The Company adopted ASC 326 using the prospective transition approach for purchased credit deteriorated (“PCD”) assets that were previously classified as PCI under ASC 310-30. The Company did not have any PCD assets that were previously classified as purchased credit impaired. Therefore, upon adoption of ASC 326, the Company determined that an allowance for credit losses on PCD assets was not deemed material. The Company adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment had been recognized prior to October 1, 2023. As of March 31, 2024, the Company did not have any other-than-temporarily impaired investment securities. Therefore, upon adoption of ASC 326, the Company determined that an allowance for credit losses on available for sale securities was not deemed material. Recently Issued Accounting Standards On October 1, 2023, the Company adopted ASU 2019-12, Income Taxes Topic 740. This update simplifies and improves accounting for income taxes by eliminating certain exceptions to the general rules and clarifying or amending other current guidance. The scope of FASB ASC Subtopic 740-10, Income Taxes -Overall, has been amended to require that, if a franchise (or similar tax) is partially based on income, (1) deferred tax assets and liabilities should be recognized and accounted for pursuant to FASB ASC 740, as should the amount of current tax expense that is based on income, and (2) any incremental amount incurred should be recorded as a non-income-based tax. Note that under the amended guidance, the effect of potentially paying a non-income-based tax in future years need not be considered in evaluating the realizability of deferred tax assets. The amendments in this ASU were effective for the Company for the fiscal year beginning October 1, 2023 and there was no impact to the consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). The amendments in this update provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments (1) apply to contract modifications that replace a reference rate affected by reference rate reform, (2) provide exceptions to existing guidance related to changes to the critical terms of a hedging relationship due to reference rate reform (3) provide optional expedients for fair value hedging relationships, cash flow hedging relationships, and net investment hedging relationships, and (4) provide a onetime election to sell, transfer, or both sell and transfer debt securities classified as held to maturity that reference a rate affected by reference rate reform and that are classified as held to maturity before January 1, 2020. The amendments in this ASU are effective for all entities as of March 12, 2020 through December 31, 2022. The amendments for contract modifications can be elected to be applied as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020. The amendments for existing hedging relationships can be elected to be applied as of the beginning of the interim period that includes March 12, 2020 and to new eligible hedging relationships entered into after the beginning of the interim period that includes March 12, 2020. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform to clarify that all derivative instruments affected by changes to the interest rates used for discounting, margining or contract price alignment are in scope of Topic 848. ASU 2021-01 expands the scope of ASU 2020-04 by allowing an entity to apply the optional expedients, by stating that a change to the interest rate used for margining, discounting or contract price alignment for a derivative is not considered to be a change to the critical terms of the hedging relationship that requires dedesignation. The Company has signed an amended agreement with Federal Home Loan Bank of New York for the transition to SOFR which began July 1, 2023 ​ ​ ​ ​ ​ ​ ​ ​ The following table illustrates the impact on the allowance for credit losses from adoption of ASC 326: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 1, 2023 ​ September 30, 2023 ​ ​ ​ ​ ​ As Reported Under ​ Pre-ASC 326 ​ Impact of ASC ​ (dollars in thousands) ​ ASC 326 ​ Adoption September ​ 326 Adoption ​ Assets: ​ ​ ​ Held to maturity securities, at amortized cost ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses on held to maturity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgaged-backed securities ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans, at amortized cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses on loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgages ​ $ 779 ​ $ 527 ​ $ 252 ​ MAP & MPF secondary market mortgages ​ 14 ​ 14 ​ — ​ Commercial mortgages ​ ​ 160 ​ ​ 55 ​ ​ 105 ​ Commercial loans - secured ​ ​ 31 ​ ​ 4 ​ ​ 27 ​ Commercial loans - unsecured ​ ​ — ​ ​ 2 ​ ​ (2) ​ Consumer loans ​ ​ 75 ​ ​ 21 ​ ​ 54 ​ Allowance for credit losses on loans ​ $ 1,059 ​ $ 623 ​ $ 436 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ Allowance for credit losses for unfunded commitments ​ $ 29 ​ $ — ​ $ 29 ​ ​ Allowance for Credit Losses – Available for Sale Securities For available for sale securities, management evaluates all investments in an unrealized loss position on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. If the Company has the intent to sell the security or it is more likely than not that the Company will be required to sell the security, the security is written down to fair value and the entire loss is recorded in earnings. If either of the above criteria is not met, the Company evaluates whether the decline in fair value is the result of credit losses or other factors. In making the assessment, the Company may consider various factors including the extent to which fair value is less than amortized cost, performance on any underlying collateral, downgrades in the ratings of the security by a rating agency, the failure of the issuer to make scheduled interest or principal payments and adverse conditions specifically related to the security. If the assessment indicates that a credit loss exists, the present value of cash flows expected to be collected are compared to the amortized cost basis of the security and any excess is recorded as an allowance for credit loss, limited by the amount that the fair value is less that the amortized cost basis. Any amount of unrealized loss that has not been recorded through an allowance for credit loss is recognized in other comprehensive income. Changes in the allowance for credit loss are recorded as provision for (benefit from) credit loss expense. Losses are charged against the allowance for credit loss when management believes an available for sale security is confirmed to be uncollectible or when either of the criteria regarding intent or requirement to sell is met. At March 31, 2024, there was no allowance for credit loss related to the available for sale securities portfolio. Accrued interest receivable on available for sale debt securities totaled $277,000 at March 31, 2024 and was excluded from the estimate of credit losses. ​ Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost. Amortized cost is the principal balance outstanding, net of purchase premiums and discounts and deferred fees and costs. Accrued interest receivable related to loans totaled $376,000 at March 31, 2024 and was reported in accrued interest receivable on the consolidated balance sheets. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using methods that approximate a level yield without anticipating prepayments. The accrual of interest is generally discontinued when a loan becomes 90 days past due and is not well collateralized and in the process of collection, or when management believes, after considering economic and business conditions and collection efforts, that the principal or interest will not be collectible in the normal course of business. Past due status is based on contractual terms of the loan. A loan is considered to be past due when a scheduled payment has not been received 30 days after the contractual due date. All accrued interest is reversed against interest income when a loan is placed on nonaccrual status. Interest received on such loans is accounted for using the cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, there is a sustained period of repayment performance, and future payments are reasonably assured. Allowance for Credit Losses – Loans The allowance for credit losses on loans is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when management believes the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. The allowance for credit losses on loans represents management’s estimate of lifetime credit losses inherent in loans as of the balance sheet date. The allowance for credit losses on loans is estimated by management using relevant available information, from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The Company measures expected credit losses for loans on a pooled basis when similar risk characteristics exist. The Company has identified the following portfolio segments and calculates the allowance for credit losses for each using a discounted cash flow and remaining life methodology. The segments using a discounted cash flow methodology are as follows: Real Estate Residential - 1-4 family residential construction loans - Other construction loans and all land development and other land loans - Revolving, open-end loans secured by 1-4 family residential properties and extended under lines of credit - Secured by first liens - Secured by junior liens ​ Real Estate Commercial ​ - Commercial and industrial loans – commercial mortgage - Loans secured by owner-occupied, nonfarm nonresidential properties - Loans secured by other nonfarm nonresidential properties - Loans secured by multifamily (5 or more) properties ​ Commercial Secured ​ - Loans to finance agricultural production and other loans to farmers - Commercial and industrial loans - Obligations (other than securities and leases) of states and political subdivisions in the US ​ Commercial Unsecured ​ - Commercial and industrial loans – unsecured - Unsecured other loans ​ Consumer ​ - Other revolving credit plans - Automobile loans - Other consumer loans ​ The discounted cash flow method calculates the expected cash flows to be received over the life of each individual loan in a pool. ​ The segments using a remaining life methodology are as follows: ​ Commercial Unsecured ​ - Other loans (commercial overdraft loans) ​ Consumer ​ - Other loans (consumer overdraft loans) ​ The remaining life methodology uses average annual charge-off rates and the remaining life of the loan to estimate the allowance for credit losses. The average annual charge-off rate is applied to the amortization adjusted remaining life of the loan to determine the unadjusted lifetime historical charge-off rate. ​ Additionally, the allowance for credit losses calculation includes subjective adjustments for qualitative risk factors that are likely to cause estimated credit losses to differ from historical experience. These qualitative adjustments may increase or reduce reserve levels and include adjustments for lending management experience and risk tolerance, asset quality and portfolio trends, loan review and audit results, loan portfolio growth, industry concentrations, trends in underlying collateral, external factors and economic conditions not already captured. ​ Loans that do not share risk characteristics are evaluated on an individual basis. When management determines that foreclosure is probable and the borrower is experiencing financial difficulty, the expected credit losses are based on the fair value of collateral at the reporting dated unadjusted for selling costs as appropriate. ​ Allowance for Credit Losses – Unfunded Commitments Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit issued to meet customer financing needs. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for off—balance sheet loan commitments is represented by the contractual amount of those instruments. Such financial instruments are recorded when they are funded. The Company records an allowance for credit losses on off-balance sheet credit exposures, unless the commitments to extend credit are unconditionally cancelable, through a charge to provision for unfunded commitments in the Company’s statements of earnings. The allowance for credit losses on off-balance sheet credit exposures is estimated by loan segment at each balance sheet date under the current expected credit loss model using the same methodologies as portfolio loans, taking into consideration the likelihood that funding will occur as well as any third-party guarantees. The allowance for unfunded commitments is included in other liabilities on the Company’s consolidated statements of financial condition. Revenue Recognition ​ The majority of the Company’s revenue stream is generated from interest income on loans which are outside the scope of “ Revenue from Contracts with Customers”   The Company’s sources of income that fall within the scope of Topic 606 include service charges on deposits, interchange fees and gains and losses on sales of other real estate, all of which are presented as components of noninterest income on the accompanying statements of earnings. Below is a summary of the revenue streams that fall within the scope of Topic 606. Service charges on deposits, ATM, and interchange fees ​ Gains and losses on sales of other real estate (“OREO”) – ​ ​

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Mar. 31, 2024
Earnings Per Common Share
Earnings Per Common Share	Note 3: Earnings Per Common Share Basic earnings per common share represent income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Unallocated common shares held by the ESOP are not included in the weighted-average number of common shares outstanding for purposes of calculating basic earnings per common share until they are committed to be released. The table below sets forth the computation of basic and diluted earnings per common share for the three and six-month periods ending March 31, 2024 and 2023 (In thousands, except per share data) (unaudited). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended Six Months Ended ​ ​ March 31, ​ March 31, Basic earnings per share: 2024 2023 2024 2023 Net income (loss) ​ $ 102 ​ $ (47) ​ $ 220 ​ $ — Weighted average common shares outstanding used to calculate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ basic and diluted earnings per common share ​ 1,053 ​ 2,031 ​ 1,052 ​ 2,031 Basic and diluted earnings per common share ​ $ 0.10 ​ $ (0.02) ​ $ 0.21 ​ $ — ​ There were no dilutive or antidilutive shares at March 31, 2024 or 2023.

Comprehensive Income (Loss)

Comprehensive Income (Loss)	6 Months Ended
	Mar. 31, 2024
Comprehensive Income (Loss)
Comprehensive Income (Loss)	Note 4: Comprehensive Income (Loss) Comprehensive income (loss), presented in the consolidated statements of shareholders’ equity, consists of net income and the net change for the period in after-tax unrealized gains or losses on securities available for sale and post-retirement benefits. The following table shows the components of accumulated other comprehensive loss at March 31, 2024 (unaudited) and September 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ September 30, ​ 2024 ​ 2023 ​ (In thousands) Accumulated Other Comprehensive Loss by Component ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized Loss for Other Postretirement Obligations $ (264) $ (326) Tax Effect 55 ​ 69 Net Unrealized Loss for Other Postretirement Obligations ​ (209) ​ ​ (257) ​ ​ ​ ​ ​ ​ Unrealized Loss on Available-for-Sale Securities, net ​ (2,669) ​ (4,890) Tax Effect 561 ​ 1,024 Net Unrealized Loss on Available-for-Sale Securities (2,108) ​ (3,866) ​ ​ ​ ​ ​ ​ Total Comprehensive Loss $ (2,317) ​ $ (4,123) ​

Investment Securities

Investment Securities	6 Months Ended
	Mar. 31, 2024
Investment Securities
Investment Securities	Note 5: Investment Securities The amortized cost of debt securities and their approximate fair value at March 31, 2024 (unaudited) is represented in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ Allowance ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ for Credit ​ Fair ​ ​ Cost ​ Gains ​ Losses ​ Losses ​ Value AVAILABLE FOR SALE ​ ​ ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 2,313 ​ $ — ​ $ (47) ​ $ — ​ $ 2,266 U.S. Government Agencies ​ 11,681 ​ — ​ (156) ​ — ​ 11,525 Mortgaged-Backed Securities ​ 9,076 ​ 1 ​ (490) ​ — ​ 8,587 Municipal Securities ​ 25,332 ​ 124 ​ (2,070) ​ — ​ 23,386 SBA Securities ​ 2,168 ​ 4 ​ (34) ​ — ​ 2,138 ​ ​ $ 50,570 ​ $ 129 ​ $ (2,797) ​ $ — ​ $ 47,902 ​ The amortized cost of debt securities and their approximate fair value at September 30, 2023 is represented in the table below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ Allowance ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ for Credit ​ Fair ​ ​ Cost ​ Gains ​ Losses ​ Losses ​ Value AVAILABLE FOR SALE ​ ​ ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 3,766 ​ $ — ​ $ (86) ​ $ — ​ $ 3,680 U.S. Government Agencies ​ 12,025 ​ — ​ (363) ​ — ​ 11,662 Mortgaged-Backed Securities ​ 8,726 ​ 1 ​ (812) ​ — ​ 7,915 Municipal Securities ​ 24,571 ​ 2 ​ (3,578) ​ — ​ 20,995 SBA Securities ​ 2,426 ​ — ​ (54) ​ — ​ 2,372 ​ ​ $ 51,514 ​ $ 3 ​ $ (4,893) ​ $ — ​ $ 46,624 ​ The amortized cost and fair value of debt securities, by contractual maturity, at March 31, 2024 (unaudited) is as shown below. Expected maturities will differ from contractual maturities call or prepay obligations with or without call or prepayment penalties. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt Securities ​ ​ Available-for-Sale ​ ​ Amortized ​ ​ ​ ​ ​ Cost ​ Fair Value ​ ​ (In Thousands) Due Within One Year $ 4,983 $ 4,969 Due After One Year Through Five Years ​ 12,968 ​ 12,842 Due After Five Years Through Ten Years ​ 5,657 ​ 5,437 Due After Ten Years ​ 15,718 ​ 13,929 ​ ​ 39,326 ​ 37,177 Mortgage-Backed & SBA Securities with no set maturitiy ​ 11,244 ​ 10,725 ​ ​ $ 50,570 ​ $ 47,902 ​ The amortized cost and fair value of debt securities, by contractual maturity, at September 30, 2023 is as shown below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt Securities ​ ​ Available-for-Sale ​ ​ Amortized ​ ​ ​ ​ ​ Cost ​ Fair Value ​ ​ (In Thousands) Due Within One Year $ 6,585 $ 6,548 Due After One Year Through Five Years ​ 13,789 ​ 13,474 Due After Five Years Through Ten Years ​ 4,437 ​ 4,127 Due After Ten Years ​ 15,551 ​ 12,188 ​ ​ 40,362 ​ 36,337 Mortgage-Backed & SBA Securities with no set maturitiy ​ 11,152 ​ 10,287 ​ ​ $ 51,514 ​ $ 46,624 ​ The realized gains and losses from the sale of available-for-sale investments for the three and six-month periods ending March 31, 2024 and 2023 (unaudited) is as shown in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ March 31, ​ March 31, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 ​ ​ (unaudited) ​ ​ (In Thousands) Proceeds $ — $ 3,324 $ — $ 4,988 Cost ​ — ​ (3,643) ​ — ​ (5,649) Net Realized Gains (Losses) ​ $ — ​ $ (319) ​ $ — ​ $ (661) Gross Realized Gains ​ $ — ​ $ 2 ​ $ — ​ $ — Gross Realized Losses ​ ​ — ​ ​ (321) ​ ​ — ​ ​ (661) Net Realized Gains (Losses) ​ $ — ​ $ (319) ​ $ — ​ $ (661) ​ Information pertaining to securities with gross unrealized losses at March 31, 2024 (unaudited), aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than Twelve months ​ Over Twelve Months ​ Total ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ ​ Losses ​ Fair Value ​ Losses ​ Fair Value ​ Losses ​ Fair Value ​ ​ (In Thousands) March 31, 2024 ​ ​ ​ ​ ​ Securities Available-for-Sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US Treasuries & Agencies ​ $ 9 ​ $ 597 ​ $ 194 ​ $ 13,194 ​ $ 203 ​ $ 13,791 Mortgage-backed & SBA Securities ​ ​ 64 ​ ​ 3,066 ​ ​ 460 ​ ​ 7,112 ​ 524 ​ 10,178 Municipal Securities ​ ​ 25 ​ ​ 2,593 ​ ​ 2,045 ​ ​ 10,183 ​ 2,070 ​ 12,776 ​ ​ $ 98 ​ $ 6,256 ​ $ 2,699 ​ $ 30,489 ​ $ 2,797 ​ $ 36,745 ​ Information pertaining to securities with gross unrealized losses at September 30, 2023 aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than Twelve months Over Twelve Months Total ​ ​ Gross ​ ​ Gross ​ ​ Gross ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ ​ Losses ​ Fair Value ​ Losses ​ Fair Value ​ Losses ​ Fair Value ​ ​ (In Thousands) September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities Available-for-Sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US Treasuries & Agencies ​ $ 368 ​ $ 9,143 ​ $ 81 ​ $ 6,199 ​ $ 449 ​ $ 15,342 Mortgage-backed & SBA Securities ​ ​ 852 ​ ​ 9,899 ​ ​ 14 ​ ​ 340 ​ 866 ​ 10,239 Municipal Securities ​ ​ 480 ​ ​ 11,357 ​ ​ 3,098 ​ ​ 8,061 ​ 3,578 ​ 19,418 ​ ​ $ 1,700 ​ $ 30,399 ​ $ 3,193 ​ $ 14,600 ​ $ 4,893 ​ $ 44,999 ​ In management’s opinion, the unrealized losses primarily reflect changes in interest rates subsequent to the acquisition of specific securities. The Company had 25 and 106 securities in an unrealized loss position of less than twelve months at March 31, 2024 and September 30, 2023, respectively, which included 10 and 74 securities acquired from Citizens Bank of Cape Vincent in September 2022, and 112 and 76 securities in an unrealized loss position of 12 months or more at March 31, 2024 and September 30, 2023, respectively. Because the unrealized losses are due to current interest rate levels relative to the Company’s cost and not credit quality, and because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell these investments before recovery of its amortized cost, which may be at maturity, the Company does not consider the unrealized losses to be credit losses at March 31, 2024, and the Company does not consider these investments to be other-than temporarily impaired at September 30, 2023.

LOANS RECEIVABLE AND ALLOWANCE

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES	6 Months Ended
	Mar. 31, 2024
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES	NOTE 6: LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES The components of loans receivable at March 31, 2024 (unaudited) are as shown in the table below: ​ ​ ​ ​ ​ ​ ​ As of March 31, 2024 ​ ​ ​ ​ ​ Total Loans ​ ​ (unaudited) ​ ​ (In Thousands) Real Estate Mortgages ​ Residential ​ $ 102,956 Commercial ​ 10,948 Construction ​ 2,455 Home Equity ​ 1,624 Other Loans: ​ Commercial Non-Mortgage ​ 1,534 Automobile ​ 2,903 Passbook ​ 410 Consumer ​ 2,446 Total Loans ​ 125,276 Net Deferred Loan Costs ​ 415 Net Discounts on Acquired Loans ​ (907) Allowance for Credit Losses ​ (1,062) Loans Receivable, Net ​ $ 123,722 ​ The components of loans receivable at September 30, 2023 are as shown in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended September 30, ​ ​ 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Originated ​ Acquired ​ Total Loans ​ ​ (In Thousands) Real Estate Mortgages: ​ ​ ​ Residential ​ $ 74,918 ​ $ 27,333 ​ $ 102,251 Commercial ​ 7,647 ​ 3,843 ​ 11,490 Construction ​ 2,265 ​ — ​ 2,265 Home Equity ​ 2,552 ​ 411 ​ 2,963 Other Loans: ​ ​ ​ ​ Commercial Non-Mortgage ​ 1,046 ​ 455 ​ 1,501 Automobile ​ 2,793 ​ 234 ​ 3,027 Passbook ​ 43 ​ 224 ​ 267 Consumer ​ 2,175 ​ 666 ​ 2,841 Total Loans ​ 93,439 ​ 33,166 ​ 126,605 Net Deferred Loan Costs ​ 437 ​ — ​ 437 Net Discounts on Acquired Loans ​ — ​ (992) ​ (992) Allowance for Loan Losses ​ (623) ​ — ​ (623) Loans Receivable, Net ​ $ 93,253 ​ $ 32,174 ​ $ 125,427 ​ The outstanding principal balance and the related carrying amount of the Company’s loans acquired in the Citizens Bank of Cape Vincent acquisition were as shown in the table below at March 31, 2024 (unaudited) and September 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ September 30, 2023 ​ ​ (unaudited) ​ ​ ​ ​ ​ (in thousands) Acquired Credit Impaired Loans ​ ​ Outstanding Principal Balance ​ $ — ​ $ — Carrying Amount ​ $ — ​ $ — Acquired Non-Credit Impaired Loans ​ ​ Outstanding Principal Balance ​ $ 30,521 ​ $ 33,166 Carrying Amount ​ $ 29,614 ​ $ 32,174 Total Acquired Loans ​ ​ Outstanding Principal Balance ​ $ 30,521 ​ $ 33,166 Carrying Amount ​ $ 29,614 ​ $ 32,174 ​ The Company had not acquired any loans with deteriorated credit quality as of March 31, 2024 and September 30, 2023. The Company did acquire a commercial secured performing loan which has been classified as substandard to ensure proper oversight and monitoring of the credit. The credit has performed in accordance with its modified terms for over two years. This loan was restructured in the fourth quarter of fiscal 2023. Proceeds paid off current principal and interest due in the amount of $505,000. The borrower retained the same interest rate of 6.00% and received a 5-year callable note with 25-year amortization in exchange for extra real estate collateral. A $108,000 second position commercial mortgage was placed on the guarantor’s primary residence behind the Bank’s first position residential mortgage. The restructuring enhances the Bank’s loan-to-value position while providing the borrower with a lower payment than the original contractual terms. The capitalization of interest, interest rate below market terms, and extension of the maturity date were concessions made to the borrower in exchange for additional collateral. The loan remains in non-accrual. Interest income on a restructured loan is accrued once the borrower demonstrates the ability to pay under the restructured terms for sustained period of repayment performance, which is generally six consecutive months. This loan has a fair value adjustment as a result of purchase price accounting of $103,000 at March 31, 2024. The Company sells first mortgage loans to third parties in the ordinary course of business, principally to the FHLB, a large purchaser of loans. These serviced loans are not included in the balances of the accompanying statements of financial condition, but the Company continues to collect the principal and interest payments for a servicing fee. At March 31, 2024 and September 30, 2023, the total outstanding principal balance on serviced loans was $11.9 million and $12.4 million, respectively. Citizens Bank of Cape Vincent did not sell residential mortgage loans to third parties. The tables below present, by portfolio segment, the changes in the allowance for credit losses and the recorded investment in loans for the three and six-months ended March 31, 2024 and 2023 (unaudited) and the year ended September 30, 2023. Allowance for loan losses and recorded investment in loans for the six months ended March 31, 2024 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Commercial Commercial ​ ​ ​ ​ Residential ​ Commercial ​ Secured ​ Unsecured ​ Consumer ​ Total ​ ​ (In Thousands) Allowance for Credit Losses: ​ ​ ​ ​ ​ ​ ​ Beginning Balance ​ $ 541 ​ $ 55 ​ $ 4 ​ $ 2 ​ $ 21 ​ $ 623 Charge-offs ​ (63) ​ — ​ — ​ — ​ (8) ​ (71) Recoveries ​ 1 ​ — ​ — ​ — ​ 5 ​ 6 Transfer ​ 3 ​ (10) ​ 1 ​ — ​ 6 ​ — Provisions ​ 68 ​ — ​ — ​ — ​ — ​ 68 Adoption of new accounting standard ​ ​ 252 ​ ​ 105 ​ ​ 27 ​ ​ (2) ​ ​ 54 ​ ​ 436 Ending Balance ​ $ 802 ​ $ 150 ​ $ 32 ​ $ — ​ $ 78 ​ $ 1,062 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending Balance: Collectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Evaluated ​ $ 802 ​ $ 150 ​ $ 32 ​ $ — ​ $ 78 ​ $ 1,062 Loans Receivable: ​ ​ ​ ​ ​ ​ Ending Balance ​ $ 107,035 ​ $ 10,948 ​ $ 1,522 ​ $ 12 ​ $ 5,759 ​ $ 125,276 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ 693 ​ $ — ​ $ — ​ $ — ​ $ 693 Ending Balance: Collectively ​ ​ ​ ​ ​ ​ Evaluated ​ $ 107,035 ​ $ 10,255 ​ $ 1,522 ​ $ 12 ​ $ 5,759 ​ $ 124,583 ​ Allowance for loan losses and recorded investment in loans for the three months ended March 31, 2024 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Commercial Commercial ​ ​ ​ ​ ​ Residential ​ Commercial ​ Secured ​ Unsecured ​ Consumer ​ Total ​ ​ ​ ​ ​ ​ ​ ​ (In Thousands) ​ (Unaudited) ​ ​ ​ ​ ​ ​ ​ Allowance for Credit Losses: ​ ​ ​ ​ ​ ​ ​ Beginning Balance ​ $ 799 ​ $ 157 ​ $ 28 ​ $ — ​ $ 77 ​ $ 1,061 Charge-offs ​ (1) ​ — ​ — ​ — ​ (2) ​ (3) Recoveries ​ 1 ​ — ​ — ​ — ​ 3 ​ 4 Transfer ​ 3 ​ (7) ​ 4 ​ — ​ — ​ — Provisions ​ — ​ — ​ — ​ — ​ — ​ — Ending Balance ​ $ 802 ​ $ 150 ​ $ 32 ​ $ — ​ $ 78 ​ $ 1,062 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending Balance: Collectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Evaluated ​ $ 802 ​ $ 150 ​ $ 32 ​ $ — ​ $ 78 ​ $ 1,062 ​ Allowance for loan losses and recorded investment in loans for the six months ended March 31, 2023 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Commercial Commercial ​ ​ ​ ​ ​ Residential ​ Commercial ​ Secured ​ Unsecured ​ Consumer ​ Total ​ ​ (In Thousands) Allowance for Credit Losses: ​ ​ ​ ​ ​ ​ ​ Beginning Balance ​ $ 548 ​ $ 55 ​ $ 4 ​ $ — ​ $ 14 ​ $ 621 Charge-offs ​ — ​ — ​ — ​ — ​ (10) ​ (10) Recoveries ​ 1 ​ — ​ — ​ — ​ 1 ​ 2 Transfer ​ (13) ​ 1 ​ — ​ — ​ 12 ​ — Provisions ​ 62 ​ — ​ — ​ — ​ — ​ 62 Ending Balance ​ $ 598 ​ $ 56 ​ $ 4 ​ $ — ​ $ 17 ​ $ 675 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ 107 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 107 Ending Balance: Collectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Evaluated ​ $ 491 ​ $ 56 ​ $ 4 ​ $ — ​ $ 17 ​ $ 568 ​ Allowance for loan losses and recorded investment in loans for the three months ended March 31, 2023 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Commercial Commercial ​ ​ ​ ​ Residential ​ Commercial ​ Secured ​ Unsecured ​ Consumer ​ Total ​ ​ (In Thousands) Allowance for Credit Losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning Balance ​ $ 561 ​ $ 55 ​ $ 4 ​ $ 1 ​ $ 13 ​ $ 634 Charge-offs ​ — ​ — ​ — ​ — ​ (6) ​ (6) Recoveries ​ — ​ — ​ — ​ — ​ — ​ — Transfer ​ (10) ​ 1 ​ — ​ (1) ​ 10 ​ — Provisions ​ 47 ​ — ​ — ​ — ​ — ​ 47 Ending Balance ​ $ 598 ​ $ 56 ​ $ 4 ​ $ — ​ $ 17 ​ $ 675 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ 107 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 107 Ending Balance: Collectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Evaluated ​ $ 491 ​ $ 56 ​ $ 4 ​ $ — ​ $ 17 ​ $ 568 ​ Allowance for loan losses and recorded investment in loans for the year ended September 30, 2023 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Commercial Commercial ​ ​ ​ ​ ​ Residential ​ Commercial ​ Secured ​ Unsecured ​ Consumer ​ Total ​ ​ (In Thousands) Loans Receivable: ​ ​ ​ ​ ​ ​ Ending Balance ​ $ 107,479 ​ $ 11,490 ​ $ 1,501 ​ $ — ​ $ 6,135 ​ $ 126,605 Less: Acquired Loans ​ 27,744 ​ 3,843 ​ 455 ​ — ​ 1,124 ​ 33,166 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ 298 ​ $ — ​ $ — ​ $ — ​ $ 298 Ending Balance: Collectively ​ ​ ​ ​ ​ ​ Evaluated ​ $ 79,735 ​ $ 7,349 ​ $ 1,046 ​ $ — ​ $ 5,011 ​ $ 93,141 ​ The following table presents performing and nonperforming real estate loans based on payment activity as of March 31, 2024 and September 30, 2023. Real estate loans include residential and commercial mortgages, construction loans and home equity loans. Payment activity is reviewed by management on a quarterly basis to determine how loans are performing. Loans are considered to be nonperforming when the number of days delinquent is greater than 89 days. The loan may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally twelve consecutive months of current payments with no past due occurrences. Prior to October 1, 2023, nonperforming loans also include certain loans that have been modified in troubled debt restructuring (“TDR”) where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from the Company’s loss mitigation and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six consecutive months. Performing and nonperforming real estate loans as of March 31, 2024 and September 30, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ As of September 30, ​ ​ 2024 ​ 2023 ​ ​ (unaudited) ​ ​ ​ ​ ​ (In Thousands) Performing $ 116,789 $ 118,269 Nonperforming ​ 1,194 ​ 700 Total ​ $ 117,983 ​ $ 118,969 ​ Credit quality indicators as of March 31, 2024 and September 30, 2023 are as follows: Internally assigned grade as a subsection of the “Pass” (ratings 1 – 4) credit risk profile: 1 — Good Loans in this category are to an individual or a well-established business in excellent financial condition with strong liquidity and a history of consistently high levels of earnings and cash flow and debt service capacity. Supported by high quality financial statements (including recent statements and sufficient historical fiscal statements), borrower has excellent repayment history and possesses a documented source of repayment. Industry conditions are favorable and business borrower’s management is well qualified with sufficient debt. Borrower and/or key personnel exhibit unquestionable character. Good loans may be characterized by high quality liquid collateral and very strong personal guarantors. 2 — Satisfactory Loans in this category are to borrowers with many of the same qualities as a good loan, however, certain characteristics are not as strong (i.e. cyclical nature of earnings, lower quality financial statements, less liquid collateral, less favorable industry trends, etc.). Borrower still has good credit, will exhibit financial strength, excellent repayment history, and good present and future earnings potential. The primary source of repayment is readily apparent with strong secondary sources of repayment available. Management is capable, with sufficient depth, and character of borrower is well established. 3 — Acceptable Loans in this category are to borrowers of average strength with acceptable financial condition (businesses fall within acceptable tolerances of other similar companies represented in the RMA annual statement studies), with satisfactory record of earnings and sufficient historical and projected cash flow to service the debt. Business borrower’s management is capable and reliable. Borrower has satisfactory repayment history, and primary and secondary sources of repayment can be clearly identified. Acceptable loans may exhibit some deficiency or vulnerability to changing economic or industry conditions. 4 — Watch Loans in this category have a chance of resulting in a loss. Characteristics of this level of assets include, but are not limited to; the borrower has only a fair credit rating with minimal recent credit problems, cash flow is currently adequate to meet the required debt repayments, but will not be sufficient in the event of significant adverse developments, borrower has limited access to alternative sources of finance, possibly at unfavorable terms, some management weaknesses exist, collateral, generally required, is sufficient to make likely the recovery of the value of the loan in the event of default, but liquidating the collateral may be difficult or expensive. In addition, the guarantor would achieve this credit rating if it borrowed individually from the Bank. 5 — Special Mention Loans in this category are usually made to well-established businesses with local operations. 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 loan or in the institution’s credit position at some future date. Special Mention loans are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. The special mention category is not to be used as a means of avoiding a clear decision to classify a loan or pass it without criticism. Neither should it include loans listed merely “for the record” when uncertainties and complexities, perhaps coupled with large size, create some reservations about the loan. If weaknesses or evidence of imprudent handling cannot be identified, inclusion of such loans in Special Mention is not justified. Special mention loans have characteristics which corrective management action would remedy. Loans in this category should remain for a relatively short period of time. 6 — Substandard Loans classified as substandard are inadequately protected by the current sound net worth or paying capacity of the borrower or the collateral pledged, if any. Loans in this category have well-defined weaknesses that jeopardize the repayment. Loans which might be included in the category have potential for problems due to weakening economic or market conditions. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Substandard loans may include loans which are likely to require liquidation of collateral to effect repayment, and other loans where the character or ability to repay has become suspect. Loss potential, while existing in the aggregate amount of the substandard assets, does not have to exist in individual assets classified as substandard. 7 — Doubtful Loans classified as doubtful have all the weaknesses in those classified as substandard with the added characteristics that the weaknesses make collection or liquidation in full on the basis of current existing facts, conditions, and value highly questionable and improbable. Although possibility of loss is extremely high, classification of these loans as loss has been deferred to specific pending factors or events, which may strengthen the loan value (i.e., possibility of additional collateral, injection of capital, collateral liquidation, debt structure, economic recovery, etc.). 8 — Loss Loans classified as loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be affected in the future. The information for each of the credit quality indicators is updated on a quarterly basis in conjunction with the determination of the adequacy of the allowance for loan losses. Credit risk profile for loans receivable held in portfolio by internally assigned grade as of March 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ Special Mention ​ Substandard ​ Doubtful ​ Total ​ ​ (unaudited) ​ ​ (In Thousands) Mortgage Loans on Real Estate ​ ​ ​ ​ ​ Residential, One to Four Family ​ $ 105,411 ​ $ — ​ $ — ​ $ — ​ $ 105,411 Home Equity ​ 1,624 ​ — ​ — ​ — ​ 1,624 Commercial ​ 10,096 ​ 159 ​ 693 ​ — ​ 10,948 Total Mortgage Loans on Real Estate ​ 117,131 ​ 159 ​ 693 ​ — ​ 117,983 Commercial ​ 1,510 ​ 24 ​ — ​ — ​ 1,534 Consumer ​ 5,759 ​ — ​ — ​ — ​ 5,759 Total Loans ​ $ 124,400 ​ $ 183 ​ $ 693 ​ $ — ​ $ 125,276 ​ ​ Credit risk profile for originated loans held in portfolio by internally assigned grade as of September 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ Special Mention ​ Substandard ​ Doubtful ​ Total ​ ​ (In Thousands) Mortgage Loans on Real Estate ​ ​ ​ ​ ​ Residential, One to Four Family ​ $ 77,183 ​ $ — ​ $ — ​ $ — ​ $ 77,183 Home Equity ​ 2,552 ​ — ​ — ​ — ​ 2,552 Commercial ​ 7,349 ​ — ​ 298 ​ — ​ 7,647 Total Mortgage Loans on Real Estate ​ 87,084 ​ — ​ 298 ​ — ​ 87,382 Commercial ​ 1,046 ​ — ​ — ​ — ​ 1,046 Consumer ​ 5,011 ​ — ​ — ​ — ​ 5,011 Total Loans ​ $ 93,141 ​ $ — ​ $ 298 ​ $ — ​ $ 93,439 ​ Credit risk profile for acquired loans by internally assigned grade as of September 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ Special Mention ​ Substandard ​ Doubtful ​ Total ​ ​ (In Thousands) Mortgage Loans on Real Estate ​ ​ ​ ​ ​ Residential, One to Four Family ​ $ 27,333 ​ $ — ​ $ — ​ $ — ​ $ 27,333 Home Equity ​ 411 ​ — ​ — ​ — ​ 411 Commercial ​ 3,231 ​ 210 ​ 402 ​ — ​ 3,843 Total Mortgage Loans on Real Estate ​ 30,975 ​ 210 ​ 402 ​ — ​ 31,587 Commercial ​ 423 ​ 32 ​ — ​ — ​ 455 Consumer ​ 1,124 ​ — ​ — ​ — ​ 1,124 Total Loans ​ $ 32,522 ​ $ 242 ​ $ 402 ​ $ — ​ $ 33,166 ​ Aging Analysis of Past Due Financing Receivables by Class Following are tables which include an aging analysis of the recorded investment of past due financing receivables as of March 31, 2024 and September 30, 2023. Also included are loans that are greater than 89 days past due as to interest and principal still accruing, because they are (1) well secured and in the process of collection or (2) real estate loans or loans exempt under regulatory rules from being classified as nonaccruals. An aged analysis of past due financing receivables by class of financing receivable for loans held in portfolio as of March 31, 2024 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days or ​ ​ ​ ​ ​ ​ ​ Total ​ 90 Days or ​ ​ 30 – 59 Days ​ 60 – 89 Days ​ Greater ​ Total ​ ​ ​ ​ Financing ​ Greater and ​ ​ Past Due ​ Past Due ​ Past Due ​ Past Due ​ Current ​ Receivable ​ Still accruing ​ (In Thousands) Residential Mortgage $ 836 $ 204 $ 239 $ 1,279 $ 105,756 $ 107,035 $ — Commercial Mortgage ​ 198 ​ — ​ 30 ​ 228 ​ 10,720 ​ 10,948 ​ — Commercial ​ — ​ — ​ — ​ — ​ 1,534 ​ 1,534 ​ — Consumer ​ 42 ​ 15 ​ 9 ​ 66 ​ 5,693 ​ 5,759 ​ — Total Loans ​ $ 1,076 ​ $ 219 ​ $ 278 ​ $ 1,573 ​ $ 123,703 ​ $ 125,276 ​ $ — ​ An aged analysis of past due financing receivables by class of financing receivable for originated loans held in portfolio and loans held for sale as of September 30, 2023, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days or ​ ​ ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ ​ ​ Total ​ Greater ​ ​ 30 – 59 Days ​ 60 – 89 Days ​ 90 Days or ​ Total ​ ​ ​ ​ Financing ​ and Still ​ ​ Past Due ​ Past Due ​ Past Due ​ Past Due ​ Current ​ Receivable ​ accruing ​ (In Thousands) Residential Mortgage $ 810 $ 5 $ 138 $ 953 $ 78,782 $ 79,735 $ — Commercial Mortgage ​ — ​ — ​ 66 ​ 66 ​ 7,581 ​ 7,647 ​ — Commercial ​ — ​ — ​ — ​ — ​ 1,046 ​ 1,046 ​ — Consumer ​ 84 ​ 11 ​ — ​ 95 ​ 4,916 ​ 5,011 ​ — Total Originated Loans ​ $ 894 ​ $ 16 ​ $ 204 ​ $ 1,114 ​ $ 92,325 ​ $ 93,439 ​ $ — ​ An aged analysis of past due financing receivables by class of financing receivable for acquired loans as of September 30, 2023, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days or ​ ​ ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ ​ ​ Total ​ Greater ​ ​ 30 – 59 Days ​ 60 – 89 Days ​ 90 Days or ​ Total ​ ​ ​ ​ Financing ​ and Still ​ ​ Past Due ​ Past Due ​ Past Due ​ Past Due ​ Current ​ Receivable ​ accruing ​ (In Thousands) Residential Mortgage $ 33 $ — $ 62 $ 95 $ 27,649 $ 27,744 $ — Commercial Mortgage ​ — ​ — ​ — ​ — ​ 3,843 ​ 3,843 ​ — Commercial ​ — ​ — ​ — ​ — ​ 455 ​ 455 ​ — Consumer ​ — ​ — ​ — ​ — ​ 1,124 ​ 1,124 ​ — Total Acquired Loans ​ $ 33 ​ $ — ​ $ 62 ​ $ 95 ​ $ 33,071 ​ $ 33,166 ​ $ — ​ Modifications Made to Borrowers Experiencing Financial Difficulty The allowance for credit losses incorporates an estimate of lifetime expected credit losses and is recorded on each asset upon asset origination or acquisition. The starting point for the estimate of the allowance for credit losses is historical loss information, which includes losses from modifications of receivables to borrowers experiencing financial difficulty. The Company uses a probability of default/loss given default model to determine the allowance for credit losses. An assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses because of the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. There were no loans made to borrowers experiencing financial difficulty during the three and six months ended March 31, 2024. Impaired Loans There were no recorded investment balances for impaired financing receivables at September 30, 2023. Troubled Debt Restructurings (“TDR”) There were two new loans modified as TDR during the fiscal year ended September 30, 2023. The Company acquired a commercial secured performing loan which has been classified as substandard to ensure proper oversight and monitoring of the credit. The credit has performed in accordance with its modified terms for over two years. This loan was restructured in the fourth quarter of fiscal 2023. Proceeds paid off current principal and interest due in the amount of $505,000. The borrower retained the same interest rate of 6.00% and received a 5-year callable note with 25-year amortization in exchange for extra real estate collateral. A $108,000 second position commercial mortgage was placed on the guarantor’s primary residence behind the Bank’s first position residential mortgage. The other loan modified as a TDR during fiscal year 2023 was a one-to-four-family adjustable-rate residential loan with a pre-modified balance of $11,000 and a 7.25% interest rate. Proceeds paid off current principal, taxes and closing costs when this loan modified into a fixed-rate one-to-four-family residential loan with a balance of $16,000 and a 6.50% interest rate. The maturity date of September 2023 was extended to October 2028 under the new terms. There were no TDRs in payment default that were previously classified as a TDR in the previous twelve months. At September 30, 2023 there were no commitments to lend additional funds to any borrower whose loan terms had been modified in a troubled debt restructuring. Vintage Analysis The following table presents the Company’s recorded investment in loans by credit quality indicators by year of origination as of March 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loans by Fiscal Year of Origination ​ ​ ​ ​ ​ ​ (in thousands) ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ Prior ​ Revolving ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate - Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 4,220 ​ $ 11,511 ​ $ 15,446 ​ $ 18,256 ​ $ 9,402 ​ $ 46,576 ​ $ 1,624 ​ $ 107,035 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Real Estate - Residential ​ $ 4,220 ​ $ 11,511 ​ $ 15,446 ​ $ 18,256 ​ $ 9,402 ​ $ 46,576 ​ $ 1,624 ​ $ 107,035 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ 63 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 63 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate - Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 290 ​ $ 2,212 ​ $ 596 ​ $ 2,359 ​ $ 1,938 ​ $ 2,701 ​ $ — ​ $ 10,096 Special Mention ​ — ​ — ​ — ​ — ​ — ​ 159 ​ ​ — ​ 159 Substandard ​ — ​ 429 ​ — ​ 197 ​ 67 ​ — ​ ​ — ​ 693 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Real Estate - Commercial ​ $ 290 ​ $ 2,641 ​ $ 596 ​ $ 2,556 ​ $ 2,005 ​ $ 2,860 ​ $ — ​ $ 10,948 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial - Secured ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 219 ​ $ 420 ​ $ 100 ​ $ 204 ​ $ 303 ​ $ 252 ​ $ — ​ $ 1,498 Special Mention ​ — ​ — ​ — ​ — ​ — ​ 24 ​ ​ — ​ 24 Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Commercial - Secured ​ $ 219 ​ $ 420 ​ $ 100 ​ $ 204 ​ $ 303 ​ $ 276 ​ $ — ​ $ 1,522 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial - Unsecured ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 1 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 11 ​ $ — ​ $ 12 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Commercial - Unsecured ​ $ 1 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 11 ​ $ — ​ $ 12 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 1,044 ​ $ 2,235 ​ $ 1,212 ​ $ 664 ​ $ 309 ​ $ 295 ​ $ — ​ $ 5,759 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Consumer ​ $ 1,044 ​ $ 2,235 ​ $ 1,212 ​ $ 664 ​ $ 309 ​ $ 295 ​ $ — ​ $ 5,759 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ 8 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 8 ​ Nonaccrual Loans The following table is a summary of the Company’s nonaccrual loans by major categories for the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CECL Incurred Loss ​ ​ March 31, 2024 ​ September 30, 2023 ​ ​ Nonaccrual loans ​ Nonaccrual loans ​ Total Nonaccrual ​ ​ (in thousands) ​ with No Allowance ​ with an Allowance ​ Loans ​ Nonaccrual Loans Real Estate - Residential ​ $ — ​ $ 651 ​ $ 651 ​ $ 153 Real Estate - Commercial ​ — ​ 465 ​ 465 ​ 468 Commercial - Secured ​ — ​ 30 ​ 30 ​ — Commercial - Unsecured ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ — ​ 9 ​ 9 ​ 9 Total Loans ​ $ — ​ $ 1,155 ​ $ 1,155 ​ $ 630 ​ The Company recognized no interest income on nonaccrual loans during the three and six months ended March 31, 2024 or 2023. The following table represents the accrued interest receivable written off by reversing interest income during the six months ended March 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Six Months ​ ​ Ended March 31, 2024 ​ ​ (in thousands) Real Estate - Residential ​ $ 18 Real Estate - Commercial ​ 18 Commercial - Secured ​ 1 Commercial - Unsecured ​ ​ — Consumer ​ — Total Loans ​ $ 37 ​

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Mar. 31, 2024
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	NOTE 7: GOODWILL AND INTANGIBLE ASSETS The goodwill and intangible assets arising from the acquisition of Citizens Bank of Cape Vincent is accounted for in accordance with the accounting guidance in FASB ASC Topic 350 for Intangibles — Goodwill and Other. The Company performs its annual impairment evaluation on September 30 or more frequently if events and circumstances indicate that the fair value is less than its carrying value. Goodwill and core deposit intangibles at March 31, 2024 (unaudited) and September 30, 2023 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended March 31, ​ Year ended September 30, ​ ​ 2024 ​ 2023 ​ ​ Gross ​ ​ ​ ​ Net ​ Gross ​ ​ ​ ​ Net ​ ​ Carrying ​ Accumulated ​ Carrying ​ Carrying ​ Accumulated ​ Carrying ​ ​ Amount ​ Amortization ​ Amount ​ Amount ​ Amortization ​ Amount ​ ​ (In Thousands) Goodwill $ 4,237 $ — $ 4,237 $ 4,237 $ — $ 4,237 Core Deposit Intangible ​ 2,542 ​ 670 ​ 1,872 ​ 2,542 ​ 462 ​ 2,080 ​ ​ $ 6,779 ​ $ 670 ​ $ 6,109 ​ $ 6,779 ​ $ 462 ​ $ 6,317 ​ No impairments of goodwill were recognized for the fiscal year ended September 30, 2023. Amortization expense for other intangible assets was $208,000 and $462,000 for the six months ending March 31, 2024 and the fiscal year ended September 30, 2023, respectively, as well as the estimated aggregate amortization expense for each of the five succeeding fiscal years as summarized below: ​ ​ ​ ​ ​ ​ Fiscal Year Ended September 30, (in thousands) 2024 $ 416 2025 ​ 370 2026 ​ 323 2027 ​ 277 2028 ​ 231 ​ ​ $ 1,617 ​

FINANCIAL INSTRUMENTS WITH OFF-

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK	6 Months Ended
	Mar. 31, 2024
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK	NOTE 8: FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK The Bank is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and to sell loans. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated statements of financial condition. The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on- balance sheet instruments. A summary of financial instrument commitments at March 31, 2024 (unaudited) and September 30, 2023 is shown below. ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, September 30, ​ 2024 2023 ​ (unaudited) ​ ​ ​ ​ (in thousands) Commitments to Grant Loans ​ $ 929 ​ $ 1,089 Unfunded Commitments Under Lines of Credit ​ $ 5,827 ​ $ 6,022 ​ Commitments to extend credit 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 some of the commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. The Bank evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, is based on management’s credit evaluation of the customer and generally consists of real estate. ​ Commitments and Contingencies Outstanding letters of credit written are conditional commitments issued by the Company to guarantee the performance by a customer to a third party. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for standby letters of credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making conditional obligations as it does for on-balance sheet instruments. The Company had four standby letters of credit totaling $176,000 as of March 31, 2024 and September 30, 2023. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending other loan commitments. The Company requires collateral and personal guarantees supporting these letters of credit as deemed necessary. Management believes that the proceeds obtained through a liquidation of such collateral in the event of a default, and the enforcement of personal guarantees would be sufficient to cover the maximum potential amount of future payments required under the corresponding guarantees. Unfunded Commitments The Company maintains an allowance for off-balance sheet credit exposures such as unfunded balances for existing lines of credit, commitments to extend future credit, as well as both standby and commercial letters of credit when there is a contractual obligation to extend credit and when this extension of credit is not unconditionally cancellable (i.e. commitment cannot be canceled at any time). The allowance for off-balance sheet credit exposures is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur, which is based on a historical funding study derived from internal information, and an estimate of expected credit losses on commitments expected to be funded over its estimated life, which are the same loss rates that are used in computing the allowance for credit losses on loans, and are discussed within this note. The allowance for credit losses for unfunded loan commitments of $31,000 at March 31, 2024 is separately classified on the balance sheet within Other Liabilities. The following table presents the balance and activity in the allowance for credit losses for unfunded loan commitments for the three months ended March 31, 2024. ​ ​ ​ ​ ​ ​ ​ Total Allowance for Credit ​ ​ Losses - Unfunded (in thousands) ​ Commitments ​ ​ ​ ​ Balance, December 31, 2023 $ 31 Provision for unfunded commitments ​ — Balance, March 31, 2024 ​ $ 31 ​ The following table presents the balance and activity in the allowance for credit losses for unfunded loan commitments for the six months ended March 31, 2024. ​ ​ ​ ​ ​ ​ ​ Total Allowance for Credit ​ ​ Losses - Unfunded (in thousands) ​ Commitments ​ ​ ​ ​ Balance, September 30, 2023 $ — Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13 ​ 29 Provision for unfunded commitments ​ 2 Balance, March 31, 2024 ​ $ 31 ​

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	6 Months Ended
	Mar. 31, 2024
REGULATORY CAPITAL REQUIREMENTS.
REGULATORY CAPITAL REQUIREMENTS	NOTE 9: REGULATORY CAPITAL REQUIREMENTS The Bank is subject to regulatory capital requirements administered by banking regulators. Failure to meet minimum capital requirements can trigger certain mandatory — and possibly additional discretionary — actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. U.S. Basel III Capital Rules In July 2013, the Federal Reserve Board approved final rules (the “U.S. Basel III Capital Rules”) establishing a new comprehensive capital framework for U.S. banking organizations and implementing the Basel Committee on Banking Supervision’s December 2010 framework for strengthening international capital standards. The U.S. Basel III Capital Rules substantially revised the risk-based capital requirements applicable to bank holding companies and depository institutions. The minimum regulatory capital requirements established by the U.S. Basel III Capital Rules became effective for the Bank on January 1, 2016 and become fully phased in on January 1, 2019. The U.S. Basel III Capital Rules require the Bank to: ● Meet a minimum Common Equity Tier 1 Capital ratio of 4.50% of risk-weighted assets and a minimum Tier 1 Capital of 6.00% of risk-weighted assets; ● Continue to require a minimum Total Capital ratio of 8.00% of risk-weighted assets and a minimum Tier 1 Leverage Capital ratio of 4.00% of average assets; ● Maintain a “capital conservation buffer” of 2.50% above the minimum risk-based capital requirements, which must be maintained to avoid restrictions on capital distributions and certain discretionary bonus payments; and ● Comply with a revised definition of capital to improve the ability of regulatory capital instruments to absorb losses. Certain non-qualifying capital instruments, including cumulative preferred stock and TruPS, will be excluded as a component of Tier 1 capital for institutions of the Company’s size. The U.S. Basel III Capital Rules use a standardized approach for risk weightings that expand the risk- weightings for assets and off-balance sheet exposures from the previous 0%, 20%, 50% and 100% categories to a much larger and more risk-sensitive number of categories, depending on the nature of the assets and off- balance sheet exposures, resulting in higher risk weights for a variety of asset categories. The capital conservation buffer at March 31, 2024 and September 30, 2023 is 2.50%. The Bank exceeded these “well-capitalized” and “capital conservation buffer” ratios for all periods presented. As of March 31, 2024 and September 30, 2023, the Bank’s capital levels meet the fully phased-in minimum capital requirements, including the new capital conservation buffers, as prescribed in the U.S. Basel III Capital Rules. As of March 31, 2024 and September 30, 2023, the most recent notification from Federal Deposit Insurance Corporation (“FDIC”) categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since the most recent notification that management believes have changed the Bank’s prompt corrective action category. There are no comparable minimum capital requirements that apply to the Company as a savings and loan holding company. The Bank’s actual and required capital amounts and ratios are presented in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum to be Well ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capitalized Under Prompt ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ Corrective Action ​ Actual Requirement Provisions ​ Amount ($) Ratio (%) Amount ($) Ratio (%) Amount ($) Ratio (%) ​ ​ (In Thousands) As of March 31, 2024 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Capital (to Risk-Weighted Assets) ​ $ 26,191 23.7 ≥ $ 8,826 ≥ 8.0 ≥ $ 11,033 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ 25,098 22.7 ≥ 6,620 ≥ 6.0 ≥ 8,826 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ 25,098 22.7 ≥ 4,965 ≥ 4.5 ≥ 7,171 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ 25,098 12.5 ≥ 8,024 ≥ 4.0 ≥ 10,031 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ 26,191 15.7 ≥ 7,723 ≥ 7.0 ≥ N/A ≥ N/A ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2023 ​ Total Capital (to Risk-Weighted Assets) ​ $ 21,906 19.4 ≥ $ 9,020 ≥ 8.0 ≥ $ 11,275 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ 21,283 18.9 ≥ 6,765 ≥ 6.0 ≥ 9,019 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ 21,283 18.9 ≥ 5,074 ≥ 4.5 ≥ 7,329 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ 21,283 10.6 ≥ 8,022 ≥ 4.0 ≥ 10,027 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ 21,906 11.4 ≥ 7,892 ≥ 7.0 ≥ N/A ≥ N/A ​ GS&L Municipal Bank’s actual and required capital amounts and ratios are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum to be Well ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capitalized Under Prompt ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ Corrective Action ​ ​ Actual ​ Requirement ​ Provisions ​ Amount ($) Ratio (%) ​ Amount ($) ​ Ratio (%) ​ Amount ($) ​ Ratio (%) ​ ​ (In Thousands) As of March 31, 2024 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Capital (to Risk-Weighted Assets) ​ $ 13,494 120.4 ≥ $ 896 ≥ 8.0 ≥ $ 1,120 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ ​ 13,494 120.4 ≥ ​ 672 ≥ 6.0 ≥ ​ 896 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ ​ 13,494 120.4 ≥ ​ 504 ≥ 4.5 ≥ ​ 728 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ ​ 13,494 39.8 ≥ ​ 1,357 ≥ 4.0 ≥ ​ 1,697 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ ​ 13,494 112.4 ≥ ​ 784 ≥ 7.0 ≥ ​ N/A ≥ N/A ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2023 ​ ​ Total Capital (to Risk-Weighted Assets) ​ $ 13,053 245.8 ≥ $ 425 ≥ 8.0 ≥ $ 531 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ ​ 13,053 245.8 ≥ ​ 319 ≥ 6.0 ≥ ​ 425 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ ​ 13,053 245.8 ≥ ​ 239 ≥ 4.5 ≥ ​ 345 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ ​ 13,053 37.4 ≥ ​ 1,394 ≥ 4.0 ≥ ​ 1,743 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ ​ 13,053 237.8 ≥ ​ 372 ≥ 7.0 ≥ ​ N/A ≥ N/A ​

RETAINED EARNINGS

RETAINED EARNINGS	6 Months Ended
	Mar. 31, 2024
RETAINED EARNINGS
RETAINED EARNINGS	NOTE 10: RETAINED EARNINGS Cambray Mutual Holding Company (“Cambray”) received full dividends paid by the Company on shares owned in fiscal year 2023. The total cumulative dividends waived by Cambray was $6,384,000 as of September 30, 2023. The dividends waived by Cambray were considered a restriction on the retained earnings of the Company.

INTEREST RATE DERIVATIVES

INTEREST RATE DERIVATIVES	6 Months Ended
	Mar. 31, 2024
INTEREST RATE DERIVATIVES
INTEREST RATE DERIVATIVES	NOTE 11: INTEREST RATE DERIVATIVES Derivative instruments are entered into primarily as a risk management tool of the Company. The Company has entered into several interest rate swap agreements whereby it pays a fixed rate and receives a variable rate on a notional amount. The Company enters into these arrangements to hedge the cost of certain borrowings and to increase the interest rate sensitivity of certain assets. Financial derivatives are recorded at fair value as other assets or liabilities. The accounting for changes in the fair value of a derivative depends on whether it has been designated and qualifies as a part of a hedging relationship. For a fair value hedge, changes in the fair value of the derivative instrument and changes in the fair value of the hedged asset or liability are currently recognized in current year earnings. Amounts recognized in earnings as noninterest loss for the six months ended March 31, 2024 and 2023 were $181,000 and $823,000, respectively. The gain/loss is the result of the swaps market value fluctuations with long-term bond rates and projected short-term rates. See Note 12 for further discussion on the fair value of the interest rate derivative. On December 9, 2022, the Company unwound two off-balance sheet swaps, with $6.0 million in notional value, for a realized gain of approximately $343,000. On December 14, 2022, the Company sold four investments totaling $2.0 million for a total loss of approximately $342,000, which closely matched the realized gain on the unwound swaps, and $2.0 million was reinvested into two new securities. On February 14, 2023, the Company unwound two off-balance sheet swaps, with $5.0 million in notional value, for a realized gain of approximately $310,000. On February 14, 2023, the Company sold ten underperforming investments totaling $3.65 million for a total loss of approximately $318,000, which closely matched the realized gain on the unwound swaps, and $3.09 million was reinvested into three new securities. On December 29, 2023, the Company unwound two off-balance sheet swaps, with $2.5 million in notional value, for a realized gain of approximately $75,000. Information about interest rate swap agreements at March 31, 2024 (unaudited) and September 30, 2023 is as shown on the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Estimated ​ ​ ​ ​ ​ Average Rate ​ Weighted ​ Fair Value ​ ​ Notional ​ Contract ​ Average Rate ​ (Liability) ​ ​ Amount ​ Pay Rate ​ Received Rate ​ Asset ​ ​ (In Thousands) ​ ​ ​ (In Thousands) March 31, 2024 (unaudited) ​ ​ Interest Rate Swaps on Mortgage Loans ​ $ — — % — % $ — Interest Rate Swaps on FHLB Borrowings and Bank Deposits ​ $ 3,000 1.56 % 5.60 % $ 68 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ ​ Interest Rate Swaps on Mortgage Loans ​ $ — — % — % $ — Interest Rate Swaps on FHLB Borrowings and Bank Deposits ​ $ 5,500 2.04 % 5.35 % $ 250 ​ The following table is a summary of the fair value of outstanding derivatives and their presentation in the consolidated statements of financial condition as of March 31, 2024 (unaudited) and September 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ As of September 30, ​ ​ 2024 2023 ​ ​ (unaudited) ​ ​ ​ ​ ​ ​ (In Thousands) Fair Value Hedge – Interest Rate Swap ​ ​ ​ ​ ​ ​ ​ Accrued Interest Receivable and Other Assets ​ $ 68 ​ $ 250 ​ ​ The notional amount of interest rate swap agreements entered into, that were outstanding at March 31, 2024 (unaudited) and September 30, 2023, mature as follows for the years ended September 30: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, September 30, ​ 2024 2023 ​ (unaudited) ​ ​ ​ ​ (in thousands) 2024 ​ $ — ​ $ — 2025 ​ 3,000 ​ 4,500 2026 ​ — ​ 1,000 ​ ​ $ 3,000 ​ $ 5,500 ​

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Mar. 31, 2024
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 12: FAIR VALUE MEASUREMENTS Determination of Fair Value The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with the Fair Value Measurements and Disclosures Recent fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value, a reasonable point within the range, is most representative of fair value under current market conditions. Fair Value Hierarchy In accordance with this guidance, the Company groups its financial assets and financial liabilities generally measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. ● Level 1 — Valuation is based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. ● Level 2 — Valuation is based on inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly. The valuation may be based on 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 for substantially the full term of the asset or liability. ● Level 3 — Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires significant management judgment or estimation. The types of instruments valued based on quoted market prices in active markets include most U.S. government and agency securities, liquid mortgage products, active listed equities and most money market securities. Such instruments are generally classified within Level 1 or Level 2 of the fair value hierarchy. As required by this guidance, the Company does not adjust the quoted price for such instruments. The types of instruments valued based on quoted prices in markets that are not active, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency include most investment- grade and high-yield corporate bonds, less liquid mortgage products, less liquid equities, state, municipal and provincial obligations, and certain physical commodities. Such instruments are generally classified within Level 2 of the fair value hierarchy. The Company utilizes interest rate swap agreements based on the Secured Overnight Financing Rate (SOFR). The Company generally determines the fair value of its interest rate swap agreements using externally developed pricing models based on market observable inputs and therefore classifies such valuations as Level 2. Level 3 is for positions that are not traded in active markets or are subject to transfer restrictions. Valuations are adjusted to reflect illiquidity and/or non-transferability, and such adjustments are generally based on available market evidence. In the absence of such evidence, management’s best estimate is used. Individually evaluated loans are evaluated and valued at the time the loan is identified as not having risk characteristics common with other loans within its pool. In these instances, impairment is measured on a case-by-case basis. The fair value of the loan is determined using either present value of the expected future cash flows discounted at the loan’s effective interest rate or, for collateral dependent loans, the fair value of the collateral less the selling, administrative costs, and other expenses necessary to liquidate the collateral. Collateral may be real estate and/or business assets including equipment, inventory and/or accounts receivable. Market value is measured based on the value of the collateral securing these loans and is classified at a Level 3 in the fair value hierarchy. The value of business equipment, inventory and accounts receivable collateral is based on the net book value on the business’ financial statements and, if necessary, discounted based on management’s review and analysis. Appraised and reported values may be discounted based on management’s historical knowledge, changes in market conditions from the time of valuation and/or management’s expertise and knowledge of the client’s business. Individually evaluated loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on the same factors identified previously. Foreclosed properties are adjusted to fair value upon transfer of the loans to foreclosed properties. Subsequently, foreclosed properties are carried at the lower of carrying value or fair value. The estimated fair value for foreclosed properties included in Level 3 is determined by independent market-based appraisals and other available market information, less costs to sell, that may be reduced further based on market expectations or an executed sales agreement. If fair value of the collateral deteriorates subsequent to initial recognition, the Company records the foreclosed properties as a nonrecurring Level 3 adjustment. Valuation techniques are consistent with those techniques applied in prior periods. The following table present the assets required to be measured and reported on a recurring basis on the Company’s Consolidated Statements of Financial Condition at their fair value as of March 31, 2024 (unaudited) and September 30, 2023 by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ ​ ​ ​ ​ ​ ​ ​ for Identical Significant Other Significant ​ ​ Total Assets/Liabilities ​ Observable ​ Unobservable ​ Fair Value (Level 1 ) Inputs (Level 2) Inputs (Level 3) ​ (In Thousands) March 31, 2024 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 2,266 ​ $ — ​ $ 2,266 ​ $ — U.S. Government Agencies ​ ​ 11,525 ​ ​ — ​ ​ 11,525 ​ ​ — Mortgaged-Backed Securities ​ ​ 8,587 ​ ​ — ​ ​ 8,587 ​ ​ — Municipal Securities ​ ​ 23,386 ​ ​ — ​ ​ 23,386 ​ ​ — SBA Securities ​ ​ 2,138 ​ ​ — ​ ​ 2,138 ​ ​ — Available-for-Sale Securities ​ $ 47,902 ​ $ — ​ $ 47,902 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate Swap Derivative ​ $ 68 ​ $ — ​ $ 68 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 3,680 ​ $ — ​ $ 3,680 ​ $ — U.S. Government Agencies ​ ​ 11,662 ​ ​ — ​ ​ 11,662 ​ ​ — Mortgaged-Backed Securities ​ ​ 7,915 ​ ​ — ​ ​ 7,915 ​ ​ — Municipal Securities ​ ​ 20,995 ​ ​ — ​ ​ 20,995 ​ ​ — SBA Securities ​ ​ 2,372 ​ ​ — ​ ​ 2,372 ​ ​ — Available-for-Sale Securities ​ $ 46,624 ​ $ — ​ $ 46,624 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate Swap Derivative ​ $ 250 ​ $ — ​ $ 250 ​ $ — ​ Certain assets and liabilities may be required to be measured at fair value on a nonrecurring basis in periods subsequent to their initial recognition. Generally, nonrecurring valuation is the result of the application of other accounting pronouncements which require assets and liabilities to be assessed for impairment or recorded at the lower of cost or fair value. Fair values of assets and liabilities measured on a nonrecurring basis at March 31, 2024 (unaudited) and September 30, 2023 are shown in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ ​ ​ ​ ​ ​ ​ ​ for Identical ​ Significant Other ​ Significant ​ ​ Total ​ Assets/Liabilities ​ Observable ​ Unobservable ​ Fair Value (Level 1 ) Inputs (Level 2) Inputs (Level 3) ​ ​ (In Thousands) March 31, 2024 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreclosed Real Estate, Net ​ $ 39 ​ $ — ​ $ — ​ $ 39 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreclosed Real Estate, Net ​ $ 101 ​ $ — ​ $ — ​ $ 101 ​ The table below presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Level 3 inputs were used to determine fair value at March 31, 2024 (unaudited) and at September 30, 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation Techniques ​ Unobservable Inputs ​ Weighted Average Range ​ ​ ​ ​ ​ ​ ​ Individually Evaluated Loans Appraisal of Collateral Appraisal Adjustments 25% - 25% (25%) ​ ​ (Sales Approach) ​ Costs to Sell ​ 6% - 10% (8%) ​ ​ Discounted Cash Flow ​ ​ ​ ​ Foreclosed Assets ​ Appraisal of Collateral ​ Appraisal Adjustments ​ 25% - 25% (25%) ​ ​ (Sales Approach) ​ Costs to Sell ​ 6% - 10% (8%) ​ Accounting guidance requires disclosures of the estimated fair value of certain financial instruments and the methods and significant assumptions used to estimate their fair values. Certain financial instruments and all non-financial instruments are excluded from the scope of the guidance. The estimated fair values of financial instruments at March 31, 2024 (unaudited) and at September 30, 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ Carrying Value Fair Value ​ (unaudited) ​ ​ (In Thousands) Financial Assets ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 8,357 ​ $ 8,357 Interest bearing deposits with banks ​ 1,756 ​ 1,756 Time deposits in other financial institutions ​ 245 ​ 245 Available for sale debt securities ​ 47,902 ​ 47,902 Acquired loans ​ 29,614 ​ ​ 29,614 Portfolio loans, net of deferred fees ​ 94,108 ​ 78,137 Investment in restricted stock ​ 1,045 ​ 1,045 Accrued interest receivable ​ 679 ​ 679 Interest rate swap derivative ​ 68 ​ 68 Financial Liabilities ​ ​ ​ ​ ​ ​ Deposits ​ $ 162,767 ​ $ 121,591 Accrued interest payable ​ 13 ​ 13 ​ Accounting guidance requires disclosures of the estimated fair value of certain financial instruments and the methods and significant assumptions used to estimate their fair values. Certain financial instruments and all non-financial instruments are excluded from the scope of the guidance. The estimated fair values of financial instruments at September 30, 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ Carrying Value Fair Value ​ (In Thousands) Financial Assets ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 9,306 ​ $ 9,306 Interest bearing deposits with banks ​ 1,101 ​ 1,101 Time deposits in other financial institutions ​ 484 ​ 484 Available for sale debt securities ​ 46,624 ​ 46,624 Acquired loans ​ 32,174 ​ 32,174 Portfolio loans, net of deferred fees ​ 93,253 ​ 69,608 Investment in restricted stock ​ 1,471 ​ 1,471 Accrued interest receivable ​ 630 ​ 630 Interest rate swap derivative ​ 250 ​ 250 Financial Liabilities ​ ​ ​ ​ ​ ​ Deposits ​ $ 158,778 ​ $ 119,212 Accrued interest payable ​ 67 ​ 67 ​ The methods and assumptions that were used to estimate the fair value of financial assets and financial liabilities that are measured at fair value on a recurring and non-recurring basis have been previously disclosed. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below: Cash and due from banks — Interest bearing deposits with banks — Time deposits in other financial institutions — Available for sale securities — Loans receivable — Investments in restricted stock — Accrued interest receivable — Deposits — Accrued interest payable — Interest Rate Swap Derivative —

LEASES

LEASES	6 Months Ended
	Mar. 31, 2024
LEASES
LEASES	NOTE 13: LEASES A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. The leases in which the Company is the lessee include real estate property for a branch office facility under a noncancelable operating lease arrangement, whose maturity date was November 2023, at which point, it automatically renewed for a three-year term at the end of that renewal. The Bank also leases a postage machine which will expire in June 2025 and a copier which will expire in June 2026. All of the Company’s leases are classified as operating leases. Topic 842 requires the Company to recognize a right-of-use (“ROU”) asset and corresponding lease liability included in other assets and other liabilities, respectively, on the Company’s consolidated statements of financial condition. ​ The Company’s real estate lease agreements include an option to renew at the Company’s discretion, which is included in the maturity schedule below. Future maturities of lease liabilities with initial or remaining terms of one year or more as of March 31, 2024 are as follows: ​ ​ ​ ​ ​ ​ (unaudited) 2024 ​ $ 11,000 2025 ​ 21,000 2026 ​ 14,000 2027 ​ 13,000 2028 ​ 13,000 ​ ​ $ 72,000 ​ Lease expense for the branch office amounted to $8,000 for the six months ended March 31, 2024. Lease expense for the equipment was approximately $3,000 for the six months ended March 31, 2024. The following tables present information about the Company’s leases as of and for the three and six months ended March 31, 2024: ​ ​ ​ ​ ​ Operating lease right of use assets $ 55,000 Operating lease liability ​ $ 55,000 Weighted average remaining lease term, in years: ​ ​ 4.09 For the three months ended March 31, 2024: ​ ​ ​ Operating lease expense: ​ $ 6,000 Short-term lease expense: ​ — Total lease expense: ​ $ 6,000 Cash paid for amounts included in measurement of lease liabilities: ​ $ 6,000 For the six months ended March 31, 2024: ​ ​ ​ Operating lease expense: ​ $ 11,000 Short-term lease expense: ​ — Total lease expense: ​ $ 11,000 Cash paid for amounts included in measurement of lease liabilities: ​ $ 11,000 ​

PARENT COMPANY FINANCIAL INFORM

PARENT COMPANY FINANCIAL INFORMATION	6 Months Ended
	Mar. 31, 2024
PARENT COMPANY FINANCIAL INFORMATION
PARENT COMPANY FINANCIAL INFORMATION	NOTE 14: PARENT COMPANY FINANCIAL INFORMATION ​ ​ ​ ​ ​ ​ ​ ​ Gouverneur Bancorp, Inc. ​ CONDENSED STATEMENTS OF FINANCIAL CONDITION PARENT COMPANY ONLY As of March 31, 2024 (unaudited) and September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 September 30, 2023 ​ ​ (unaudited) ​ ​ ​ ​ ​ (In Thousands, Except Share and Per Share Amounts) Assets ​ ​ ​ ​ ​ ​ Cash and Cash Equivalents: ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 2,431 ​ $ 19 Interest bearing deposits with banks ​ ​ 153 ​ ​ 4,575 Total Cash and Cash Equivalents ​ ​ 2,584 ​ ​ 4,594 ​ ​ ​ ​ ​ ​ ​ ESOP loan receivable ​ ​ 522 ​ ​ — ​ ​ ​ ​ ​ ​ ​ Accrued interest receivable and other assets ​ ​ 115 ​ ​ 11 Investment in subsidiary ​ ​ 29,246 ​ ​ 23,865 ​ ​ ​ ​ ​ ​ ​ Total Assets ​ $ 32,467 ​ $ 28,470 ​ ​ ​ ​ ​ ​ ​ Liabilities and Stockholders' Equity ​ ​ ​ ​ ​ ​ Accrued interest payable and other liabilities ​ $ 732 ​ $ 3,362 ​ ​ ​ ​ ​ ​ ​ Total Liabilities ​ ​ 732 ​ ​ 3,362 ​ ​ ​ ​ ​ ​ ​ Stockholders' Equity ​ ​ ​ ​ ​ ​ Preferred stock, $.01 par value: March 31, 2024: 25,000,000 shares authorized; none issued ​ ​ ​ ​ ​ ​ September 30, 2023: 1,000,000 shares authorized; none issued ​ ​ — ​ ​ — Common stock, $.01 par value: March 31, 2024: 75,000,000 shares authorized; 1,107,134 shares issued ​ ​ ​ ​ ​ ​ September 30, 2023: 9,000,000 shares authorized; 2,031,377 shares issued ​ ​ 11 ​ ​ 24 Additional paid-in capital ​ ​ 6,487 ​ ​ 5,035 Retained earnings ​ ​ 28,094 ​ ​ 28,242 Treasury Stock, at cost, (shares March 31, 2024: 0: September 30, 2023: 352,231) ​ ​ — ​ ​ (4,070) Accumulated other comprehensive loss ​ ​ (2,317) ​ ​ (4,123) Unearned common stock held by employee stock ownership plan ​ ​ (540) ​ ​ — Total Stockholders' Equity ​ ​ 31,735 ​ ​ 25,108 ​ ​ ​ ​ ​ ​ ​ Total Liabilities and Stockholders' Equity ​ $ 32,467 ​ $ 28,470 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gouverneur Bancorp, Inc. ​ CONDENSED STATEMENTS OF EARNINGS - PARENT COMPANY ONLY For the Three and Six Months Ended March 31, 2024 and 2023 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ Six Months Ended March 31, ​ 2024 2023 2024 2023 ​ ​ (unaudited) ​ ​ (In Thousands, except per share data) Interest Income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans receivable, including fees ​ $ — ​ $ — ​ $ 8 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Interest Income ​ ​ — ​ ​ — ​ ​ 8 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Interest Income ​ ​ — ​ ​ — ​ ​ 8 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest Income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividend Income ​ ​ — ​ ​ — ​ ​ — ​ ​ 203 Earnings (loss) on deferred fees plan ​ ​ 17 ​ ​ — ​ ​ 11 ​ ​ — Earnings (losses) from subsidiaries ​ ​ 206 ​ ​ (13) ​ ​ 385 ​ ​ 46 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Non-interest Income (Loss) ​ ​ 223 ​ ​ (13) ​ ​ 396 ​ ​ 249 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest Expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Directors' fees ​ ​ 22 ​ ​ — ​ ​ 36 ​ ​ — Earnings (losses) on deferred fees plan ​ ​ 17 ​ ​ — ​ ​ 11 ​ ​ — Professional fees ​ ​ 29 ​ ​ 7 ​ ​ 63 ​ ​ 7 Other non-interest expenses ​ ​ 53 ​ ​ 27 ​ ​ 74 ​ ​ 38 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Non-interest Expenses ​ ​ 121 ​ ​ 34 ​ ​ 184 ​ ​ 45 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (Loss) before Income Tax Expense ​ ​ 102 ​ ​ (47) ​ ​ 220 ​ ​ 204 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income Tax Expense ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Income (Loss) ​ $ 102 ​ $ (47) ​ $ 220 ​ $ 204 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and Diluted Earnings Per Share ​ $ 0.10 ​ $ (0.02) ​ $ 0.21 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gouverneur Bancorp, Inc. ​ CONDENSED STATEMENTS OF CASH FLOWS - PARENT ONLY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended March 31, ​ ​ 2024 2023 ​ ​ (unaudited) ​ ​ ​ (In Thousands) ​ Cash Flows from Operating Activities: ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 220 ​ $ 204 ​ Adjustments to reconcile net income (loss) to net cash and cash equivalents provided by operating activities: ​ ​ ​ ​ ​ ​ ​ Equity in undistributed net earnings of subsidiaries ​ ​ (385) ​ ​ (46) ​ ESOP committed to be released ​ ​ 37 ​ ​ — ​ Change in other Assets ​ ​ (3,662) ​ ​ 245 ​ Change in other Liabilities ​ ​ (2,630) ​ ​ (252) ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Cash (Used in) Provided by Operating Activities ​ ​ (6,420) ​ ​ 151 ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flows from Investing Activities: ​ ​ ​ ​ ​ ​ ​ ESOP loan issued ​ ​ (578) ​ ​ — ​ Net decrease in loans receivable ​ ​ 56 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Cash Used in Investing Activities ​ ​ (522) ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flows from Financing Activities: ​ ​ ​ ​ ​ ​ ​ Net stock offering proceeds ​ ​ 4,932 ​ ​ — ​ Cash dividends paid ​ ​ — ​ ​ (204) ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Cash Provided by (Used in) Financing Activities ​ ​ 4,932 ​ ​ (204) ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Decrease in Cash and Cash Equivalents ​ ​ (2,010) ​ ​ (53) ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and Cash Equivalents - Beginning of Period ​ ​ 4,594 ​ ​ 107 ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and Cash Equivalents - End of Period ​ $ 2,584 ​ $ 54 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENT	​ NOTE 15: SUBSEQUENT EVENT ​ On April 19, 2024, the Bank filed an application with the Office of the Comptroller of the Currency (the “OCC”) to convert from a New York chartered stock savings and loan association to a national banking association. In connection with the charter conversion application, the Company will also file an application with the Federal Reserve Bank of New York to convert from a savings and loan holding company to a bank holding company. The charter conversion remains subject to regulatory approval by the OCC and the Federal Reserve, and no timeline has been established for the completion of the conversion. If the charter conversion is ultimately approved by the OCC and the Federal Reserve, the Company currently intends to file an application to merge GS&L Municipal Bank with and into the Bank following the completion of the charter conversion.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2024
Summary of Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation The consolidated financial statements of the Company include the accounts of Bancorp and its wholly-owned subsidiary, the Bank, and the Bank’s wholly owned subsidiary, GS&L Municipal Bank. ​ At March 31, 2024, GS&L Municipal Bank held $27.6 million of the Bank’s $47.9 million investment securities portfolio and $25.6 million of the Bank’s deposits. All significant intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates in Preparation of Financial Statements	Use of Estimates in Preparation of Financial Statements The preparation of consolidated 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 consolidated 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 loan losses. In connection with the determination of the estimated loan losses, management obtains independent appraisals for significant properties. The Company’s loans are generally secured by specific items of collateral including real property, consumer assets, and business assets. Although the Company has a diversified portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on local economic conditions. While management uses available information to recognize losses on loans and foreclosed assets, further reductions in the carrying amounts of loans and foreclosed assets may be necessary, based on changes in local economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans and foreclosed assets. Such agencies may require the Company to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans and foreclosed assets may change materially in the near term. However, the amount of the change that is reasonably possible cannot be estimated.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company’s significant accounting policies followed in the preparation of the unaudited consolidated financial statements are disclosed in Note 2 of the audited financial statements and notes for the year ended September 30, 2023 and are contained in the Company’s Annual Report on Form 10-K for the year ended September 30, 2023. There have been no significant changes to the application of significant accounting policies since September 30, 2023, except for the following: On October 1, 2023, the Company adopted ASU 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASC 326) required an estimate of credit losses for the remaining estimated life of the financial asset using historical experience, current conditions, and reasonable and supportable forecasts and generally applies to financial assets measured at amortized cost, including loan receivables and held-to-maturity debt securities, and some off-balance sheet credit exposures such as unfunded commitments to extend credit. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit losses. In addition, CECL made changes to the accounting for available for sale debt securities. One such change is to require that credit losses be presented as an allowance rather than as a write-down on available for sale debt securities if management does not intend to sell and does not believe that it is more likely than not that the Company will be required to sell. The Company adopted ASC 326 and all related subsequent amendments thereto effective October 1, 2023 using the modified retrospective approach for all financial assets measured at amortized cost and off-balance sheet credit exposures. The transition adjustment of the adoption of CECL included an increase in the allowance for credit losses on loans of $436,000, which is presented as a reduction to net loans outstanding, and an increase in the allowance for credit losses on unfunded loan commitments of $29,000, which is recorded within Other Liabilities on the accompanying statements of financial condition. The Company recorded a net decrease to retained earnings of $368,000 as of October 1, 2023 for the cumulative effect of adopting CECL, which reflects the transition adjustments noted above, net of the applicable deferred tax assets recorded. Results for reporting periods beginning after October 1, 2023 are presented under CECL while prior period amounts continue to be reported in accordance with previously applicable accounting standards (“Incurred Loss”). The Company adopted ASC 326 using the prospective transition approach for purchased credit deteriorated (“PCD”) assets that were previously classified as PCI under ASC 310-30. The Company did not have any PCD assets that were previously classified as purchased credit impaired. Therefore, upon adoption of ASC 326, the Company determined that an allowance for credit losses on PCD assets was not deemed material. The Company adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment had been recognized prior to October 1, 2023. As of March 31, 2024, the Company did not have any other-than-temporarily impaired investment securities. Therefore, upon adoption of ASC 326, the Company determined that an allowance for credit losses on available for sale securities was not deemed material. Recently Issued Accounting Standards On October 1, 2023, the Company adopted ASU 2019-12, Income Taxes Topic 740. This update simplifies and improves accounting for income taxes by eliminating certain exceptions to the general rules and clarifying or amending other current guidance. The scope of FASB ASC Subtopic 740-10, Income Taxes -Overall, has been amended to require that, if a franchise (or similar tax) is partially based on income, (1) deferred tax assets and liabilities should be recognized and accounted for pursuant to FASB ASC 740, as should the amount of current tax expense that is based on income, and (2) any incremental amount incurred should be recorded as a non-income-based tax. Note that under the amended guidance, the effect of potentially paying a non-income-based tax in future years need not be considered in evaluating the realizability of deferred tax assets. The amendments in this ASU were effective for the Company for the fiscal year beginning October 1, 2023 and there was no impact to the consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). The amendments in this update provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments (1) apply to contract modifications that replace a reference rate affected by reference rate reform, (2) provide exceptions to existing guidance related to changes to the critical terms of a hedging relationship due to reference rate reform (3) provide optional expedients for fair value hedging relationships, cash flow hedging relationships, and net investment hedging relationships, and (4) provide a onetime election to sell, transfer, or both sell and transfer debt securities classified as held to maturity that reference a rate affected by reference rate reform and that are classified as held to maturity before January 1, 2020. The amendments in this ASU are effective for all entities as of March 12, 2020 through December 31, 2022. The amendments for contract modifications can be elected to be applied as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020. The amendments for existing hedging relationships can be elected to be applied as of the beginning of the interim period that includes March 12, 2020 and to new eligible hedging relationships entered into after the beginning of the interim period that includes March 12, 2020. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform to clarify that all derivative instruments affected by changes to the interest rates used for discounting, margining or contract price alignment are in scope of Topic 848. ASU 2021-01 expands the scope of ASU 2020-04 by allowing an entity to apply the optional expedients, by stating that a change to the interest rate used for margining, discounting or contract price alignment for a derivative is not considered to be a change to the critical terms of the hedging relationship that requires dedesignation. The Company has signed an amended agreement with Federal Home Loan Bank of New York for the transition to SOFR which began July 1, 2023 ​ ​ ​ ​ ​ ​ ​ ​ The following table illustrates the impact on the allowance for credit losses from adoption of ASC 326: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 1, 2023 ​ September 30, 2023 ​ ​ ​ ​ ​ As Reported Under ​ Pre-ASC 326 ​ Impact of ASC ​ (dollars in thousands) ​ ASC 326 ​ Adoption September ​ 326 Adoption ​ Assets: ​ ​ ​ Held to maturity securities, at amortized cost ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses on held to maturity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgaged-backed securities ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans, at amortized cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses on loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgages ​ $ 779 ​ $ 527 ​ $ 252 ​ MAP & MPF secondary market mortgages ​ 14 ​ 14 ​ — ​ Commercial mortgages ​ ​ 160 ​ ​ 55 ​ ​ 105 ​ Commercial loans - secured ​ ​ 31 ​ ​ 4 ​ ​ 27 ​ Commercial loans - unsecured ​ ​ — ​ ​ 2 ​ ​ (2) ​ Consumer loans ​ ​ 75 ​ ​ 21 ​ ​ 54 ​ Allowance for credit losses on loans ​ $ 1,059 ​ $ 623 ​ $ 436 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ Allowance for credit losses for unfunded commitments ​ $ 29 ​ $ — ​ $ 29 ​
Allowance for Credit Losses	Allowance for Credit Losses – Available for Sale Securities For available for sale securities, management evaluates all investments in an unrealized loss position on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. If the Company has the intent to sell the security or it is more likely than not that the Company will be required to sell the security, the security is written down to fair value and the entire loss is recorded in earnings. If either of the above criteria is not met, the Company evaluates whether the decline in fair value is the result of credit losses or other factors. In making the assessment, the Company may consider various factors including the extent to which fair value is less than amortized cost, performance on any underlying collateral, downgrades in the ratings of the security by a rating agency, the failure of the issuer to make scheduled interest or principal payments and adverse conditions specifically related to the security. If the assessment indicates that a credit loss exists, the present value of cash flows expected to be collected are compared to the amortized cost basis of the security and any excess is recorded as an allowance for credit loss, limited by the amount that the fair value is less that the amortized cost basis. Any amount of unrealized loss that has not been recorded through an allowance for credit loss is recognized in other comprehensive income. Changes in the allowance for credit loss are recorded as provision for (benefit from) credit loss expense. Losses are charged against the allowance for credit loss when management believes an available for sale security is confirmed to be uncollectible or when either of the criteria regarding intent or requirement to sell is met. At March 31, 2024, there was no allowance for credit loss related to the available for sale securities portfolio. Accrued interest receivable on available for sale debt securities totaled $277,000 at March 31, 2024 and was excluded from the estimate of credit losses. ​ Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost. Amortized cost is the principal balance outstanding, net of purchase premiums and discounts and deferred fees and costs. Accrued interest receivable related to loans totaled $376,000 at March 31, 2024 and was reported in accrued interest receivable on the consolidated balance sheets. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using methods that approximate a level yield without anticipating prepayments. The accrual of interest is generally discontinued when a loan becomes 90 days past due and is not well collateralized and in the process of collection, or when management believes, after considering economic and business conditions and collection efforts, that the principal or interest will not be collectible in the normal course of business. Past due status is based on contractual terms of the loan. A loan is considered to be past due when a scheduled payment has not been received 30 days after the contractual due date. All accrued interest is reversed against interest income when a loan is placed on nonaccrual status. Interest received on such loans is accounted for using the cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, there is a sustained period of repayment performance, and future payments are reasonably assured. Allowance for Credit Losses – Loans The allowance for credit losses on loans is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when management believes the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. The allowance for credit losses on loans represents management’s estimate of lifetime credit losses inherent in loans as of the balance sheet date. The allowance for credit losses on loans is estimated by management using relevant available information, from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The Company measures expected credit losses for loans on a pooled basis when similar risk characteristics exist. The Company has identified the following portfolio segments and calculates the allowance for credit losses for each using a discounted cash flow and remaining life methodology. The segments using a discounted cash flow methodology are as follows: Real Estate Residential - 1-4 family residential construction loans - Other construction loans and all land development and other land loans - Revolving, open-end loans secured by 1-4 family residential properties and extended under lines of credit - Secured by first liens - Secured by junior liens ​ Real Estate Commercial ​ - Commercial and industrial loans – commercial mortgage - Loans secured by owner-occupied, nonfarm nonresidential properties - Loans secured by other nonfarm nonresidential properties - Loans secured by multifamily (5 or more) properties ​ Commercial Secured ​ - Loans to finance agricultural production and other loans to farmers - Commercial and industrial loans - Obligations (other than securities and leases) of states and political subdivisions in the US ​ Commercial Unsecured ​ - Commercial and industrial loans – unsecured - Unsecured other loans ​ Consumer ​ - Other revolving credit plans - Automobile loans - Other consumer loans ​ The discounted cash flow method calculates the expected cash flows to be received over the life of each individual loan in a pool. ​ The segments using a remaining life methodology are as follows: ​ Commercial Unsecured ​ - Other loans (commercial overdraft loans) ​ Consumer ​ - Other loans (consumer overdraft loans) ​ The remaining life methodology uses average annual charge-off rates and the remaining life of the loan to estimate the allowance for credit losses. The average annual charge-off rate is applied to the amortization adjusted remaining life of the loan to determine the unadjusted lifetime historical charge-off rate. ​ Additionally, the allowance for credit losses calculation includes subjective adjustments for qualitative risk factors that are likely to cause estimated credit losses to differ from historical experience. These qualitative adjustments may increase or reduce reserve levels and include adjustments for lending management experience and risk tolerance, asset quality and portfolio trends, loan review and audit results, loan portfolio growth, industry concentrations, trends in underlying collateral, external factors and economic conditions not already captured. ​ Loans that do not share risk characteristics are evaluated on an individual basis. When management determines that foreclosure is probable and the borrower is experiencing financial difficulty, the expected credit losses are based on the fair value of collateral at the reporting dated unadjusted for selling costs as appropriate. ​ Allowance for Credit Losses – Unfunded Commitments Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit issued to meet customer financing needs. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for off—balance sheet loan commitments is represented by the contractual amount of those instruments. Such financial instruments are recorded when they are funded. The Company records an allowance for credit losses on off-balance sheet credit exposures, unless the commitments to extend credit are unconditionally cancelable, through a charge to provision for unfunded commitments in the Company’s statements of earnings. The allowance for credit losses on off-balance sheet credit exposures is estimated by loan segment at each balance sheet date under the current expected credit loss model using the same methodologies as portfolio loans, taking into consideration the likelihood that funding will occur as well as any third-party guarantees. The allowance for unfunded commitments is included in other liabilities on the Company’s consolidated statements of financial condition.
Revenue Recognition	Revenue Recognition ​ The majority of the Company’s revenue stream is generated from interest income on loans which are outside the scope of “ Revenue from Contracts with Customers”   The Company’s sources of income that fall within the scope of Topic 606 include service charges on deposits, interchange fees and gains and losses on sales of other real estate, all of which are presented as components of noninterest income on the accompanying statements of earnings. Below is a summary of the revenue streams that fall within the scope of Topic 606. Service charges on deposits, ATM, and interchange fees ​ Gains and losses on sales of other real estate (“OREO”) –

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Mar. 31, 2024
Summary of Significant Accounting Policies
Schedule of impact on the allowance for credit losses from adoption of ASC 326	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 1, 2023 ​ September 30, 2023 ​ ​ ​ ​ ​ As Reported Under ​ Pre-ASC 326 ​ Impact of ASC ​ (dollars in thousands) ​ ASC 326 ​ Adoption September ​ 326 Adoption ​ Assets: ​ ​ ​ Held to maturity securities, at amortized cost ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses on held to maturity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mortgaged-backed securities ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans, at amortized cost ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses on loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgages ​ $ 779 ​ $ 527 ​ $ 252 ​ MAP & MPF secondary market mortgages ​ 14 ​ 14 ​ — ​ Commercial mortgages ​ ​ 160 ​ ​ 55 ​ ​ 105 ​ Commercial loans - secured ​ ​ 31 ​ ​ 4 ​ ​ 27 ​ Commercial loans - unsecured ​ ​ — ​ ​ 2 ​ ​ (2) ​ Consumer loans ​ ​ 75 ​ ​ 21 ​ ​ 54 ​ Allowance for credit losses on loans ​ $ 1,059 ​ $ 623 ​ $ 436 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ Allowance for credit losses for unfunded commitments ​ $ 29 ​ $ — ​ $ 29 ​

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Mar. 31, 2024
Earnings Per Common Share
Schedule of computation of basic and diluted earnings per common share	The table below sets forth the computation of basic and diluted earnings per common share for the three and six-month periods ending March 31, 2024 and 2023 (In thousands, except per share data) (unaudited). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended Six Months Ended ​ ​ March 31, ​ March 31, Basic earnings per share: 2024 2023 2024 2023 Net income (loss) ​ $ 102 ​ $ (47) ​ $ 220 ​ $ — Weighted average common shares outstanding used to calculate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ basic and diluted earnings per common share ​ 1,053 ​ 2,031 ​ 1,052 ​ 2,031 Basic and diluted earnings per common share ​ $ 0.10 ​ $ (0.02) ​ $ 0.21 ​ $ —

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	6 Months Ended
	Mar. 31, 2024
Comprehensive Income (Loss)
Schedule of accumulated other comprehensive loss	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ September 30, ​ 2024 ​ 2023 ​ (In thousands) Accumulated Other Comprehensive Loss by Component ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized Loss for Other Postretirement Obligations $ (264) $ (326) Tax Effect 55 ​ 69 Net Unrealized Loss for Other Postretirement Obligations ​ (209) ​ ​ (257) ​ ​ ​ ​ ​ ​ Unrealized Loss on Available-for-Sale Securities, net ​ (2,669) ​ (4,890) Tax Effect 561 ​ 1,024 Net Unrealized Loss on Available-for-Sale Securities (2,108) ​ (3,866) ​ ​ ​ ​ ​ ​ Total Comprehensive Loss $ (2,317) ​ $ (4,123) ​

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Mar. 31, 2024
Investment Securities
Schedule of amortized cost of debt securities and fair value	The amortized cost of debt securities and their approximate fair value at March 31, 2024 (unaudited) is represented in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ Allowance ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ for Credit ​ Fair ​ ​ Cost ​ Gains ​ Losses ​ Losses ​ Value AVAILABLE FOR SALE ​ ​ ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 2,313 ​ $ — ​ $ (47) ​ $ — ​ $ 2,266 U.S. Government Agencies ​ 11,681 ​ — ​ (156) ​ — ​ 11,525 Mortgaged-Backed Securities ​ 9,076 ​ 1 ​ (490) ​ — ​ 8,587 Municipal Securities ​ 25,332 ​ 124 ​ (2,070) ​ — ​ 23,386 SBA Securities ​ 2,168 ​ 4 ​ (34) ​ — ​ 2,138 ​ ​ $ 50,570 ​ $ 129 ​ $ (2,797) ​ $ — ​ $ 47,902 ​ The amortized cost of debt securities and their approximate fair value at September 30, 2023 is represented in the table below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ Allowance ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ for Credit ​ Fair ​ ​ Cost ​ Gains ​ Losses ​ Losses ​ Value AVAILABLE FOR SALE ​ ​ ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 3,766 ​ $ — ​ $ (86) ​ $ — ​ $ 3,680 U.S. Government Agencies ​ 12,025 ​ — ​ (363) ​ — ​ 11,662 Mortgaged-Backed Securities ​ 8,726 ​ 1 ​ (812) ​ — ​ 7,915 Municipal Securities ​ 24,571 ​ 2 ​ (3,578) ​ — ​ 20,995 SBA Securities ​ 2,426 ​ — ​ (54) ​ — ​ 2,372 ​ ​ $ 51,514 ​ $ 3 ​ $ (4,893) ​ $ — ​ $ 46,624
Schedule of amortized cost and fair value of debt securities, by contractual maturity	The amortized cost and fair value of debt securities, by contractual maturity, at March 31, 2024 (unaudited) is as shown below. Expected maturities will differ from contractual maturities call or prepay obligations with or without call or prepayment penalties. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt Securities ​ ​ Available-for-Sale ​ ​ Amortized ​ ​ ​ ​ ​ Cost ​ Fair Value ​ ​ (In Thousands) Due Within One Year $ 4,983 $ 4,969 Due After One Year Through Five Years ​ 12,968 ​ 12,842 Due After Five Years Through Ten Years ​ 5,657 ​ 5,437 Due After Ten Years ​ 15,718 ​ 13,929 ​ ​ 39,326 ​ 37,177 Mortgage-Backed & SBA Securities with no set maturitiy ​ 11,244 ​ 10,725 ​ ​ $ 50,570 ​ $ 47,902 ​ The amortized cost and fair value of debt securities, by contractual maturity, at September 30, 2023 is as shown below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt Securities ​ ​ Available-for-Sale ​ ​ Amortized ​ ​ ​ ​ ​ Cost ​ Fair Value ​ ​ (In Thousands) Due Within One Year $ 6,585 $ 6,548 Due After One Year Through Five Years ​ 13,789 ​ 13,474 Due After Five Years Through Ten Years ​ 4,437 ​ 4,127 Due After Ten Years ​ 15,551 ​ 12,188 ​ ​ 40,362 ​ 36,337 Mortgage-Backed & SBA Securities with no set maturitiy ​ 11,152 ​ 10,287 ​ ​ $ 51,514 ​ $ 46,624
Schedule of realized gains and losses from the sale of available-for-sale investments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ March 31, ​ March 31, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 ​ ​ (unaudited) ​ ​ (In Thousands) Proceeds $ — $ 3,324 $ — $ 4,988 Cost ​ — ​ (3,643) ​ — ​ (5,649) Net Realized Gains (Losses) ​ $ — ​ $ (319) ​ $ — ​ $ (661) Gross Realized Gains ​ $ — ​ $ 2 ​ $ — ​ $ — Gross Realized Losses ​ ​ — ​ ​ (321) ​ ​ — ​ ​ (661) Net Realized Gains (Losses) ​ $ — ​ $ (319) ​ $ — ​ $ (661)
Schedule of securities with gross unrealized losses	Information pertaining to securities with gross unrealized losses at March 31, 2024 (unaudited), aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than Twelve months ​ Over Twelve Months ​ Total ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ ​ Losses ​ Fair Value ​ Losses ​ Fair Value ​ Losses ​ Fair Value ​ ​ (In Thousands) March 31, 2024 ​ ​ ​ ​ ​ Securities Available-for-Sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US Treasuries & Agencies ​ $ 9 ​ $ 597 ​ $ 194 ​ $ 13,194 ​ $ 203 ​ $ 13,791 Mortgage-backed & SBA Securities ​ ​ 64 ​ ​ 3,066 ​ ​ 460 ​ ​ 7,112 ​ 524 ​ 10,178 Municipal Securities ​ ​ 25 ​ ​ 2,593 ​ ​ 2,045 ​ ​ 10,183 ​ 2,070 ​ 12,776 ​ ​ $ 98 ​ $ 6,256 ​ $ 2,699 ​ $ 30,489 ​ $ 2,797 ​ $ 36,745 Information pertaining to securities with gross unrealized losses at September 30, 2023 aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than Twelve months Over Twelve Months Total ​ ​ Gross ​ ​ Gross ​ ​ Gross ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ ​ Losses ​ Fair Value ​ Losses ​ Fair Value ​ Losses ​ Fair Value ​ ​ (In Thousands) September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities Available-for-Sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US Treasuries & Agencies ​ $ 368 ​ $ 9,143 ​ $ 81 ​ $ 6,199 ​ $ 449 ​ $ 15,342 Mortgage-backed & SBA Securities ​ ​ 852 ​ ​ 9,899 ​ ​ 14 ​ ​ 340 ​ 866 ​ 10,239 Municipal Securities ​ ​ 480 ​ ​ 11,357 ​ ​ 3,098 ​ ​ 8,061 ​ 3,578 ​ 19,418 ​ ​ $ 1,700 ​ $ 30,399 ​ $ 3,193 ​ $ 14,600 ​ $ 4,893 ​ $ 44,999

LOANS RECEIVABLE AND ALLOWANC_2

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Tables)	6 Months Ended
	Mar. 31, 2024
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES
Schedule of components for loans receivable	​ ​ ​ ​ ​ ​ ​ As of March 31, 2024 ​ ​ ​ ​ ​ Total Loans ​ ​ (unaudited) ​ ​ (In Thousands) Real Estate Mortgages ​ Residential ​ $ 102,956 Commercial ​ 10,948 Construction ​ 2,455 Home Equity ​ 1,624 Other Loans: ​ Commercial Non-Mortgage ​ 1,534 Automobile ​ 2,903 Passbook ​ 410 Consumer ​ 2,446 Total Loans ​ 125,276 Net Deferred Loan Costs ​ 415 Net Discounts on Acquired Loans ​ (907) Allowance for Credit Losses ​ (1,062) Loans Receivable, Net ​ $ 123,722 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended September 30, ​ ​ 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Originated ​ Acquired ​ Total Loans ​ ​ (In Thousands) Real Estate Mortgages: ​ ​ ​ Residential ​ $ 74,918 ​ $ 27,333 ​ $ 102,251 Commercial ​ 7,647 ​ 3,843 ​ 11,490 Construction ​ 2,265 ​ — ​ 2,265 Home Equity ​ 2,552 ​ 411 ​ 2,963 Other Loans: ​ ​ ​ ​ Commercial Non-Mortgage ​ 1,046 ​ 455 ​ 1,501 Automobile ​ 2,793 ​ 234 ​ 3,027 Passbook ​ 43 ​ 224 ​ 267 Consumer ​ 2,175 ​ 666 ​ 2,841 Total Loans ​ 93,439 ​ 33,166 ​ 126,605 Net Deferred Loan Costs ​ 437 ​ — ​ 437 Net Discounts on Acquired Loans ​ — ​ (992) ​ (992) Allowance for Loan Losses ​ (623) ​ — ​ (623) Loans Receivable, Net ​ $ 93,253 ​ $ 32,174 ​ $ 125,427
Schedule of outstanding principal balance and the related carrying amount of the Company's loans acquired	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ September 30, 2023 ​ ​ (unaudited) ​ ​ ​ ​ ​ (in thousands) Acquired Credit Impaired Loans ​ ​ Outstanding Principal Balance ​ $ — ​ $ — Carrying Amount ​ $ — ​ $ — Acquired Non-Credit Impaired Loans ​ ​ Outstanding Principal Balance ​ $ 30,521 ​ $ 33,166 Carrying Amount ​ $ 29,614 ​ $ 32,174 Total Acquired Loans ​ ​ Outstanding Principal Balance ​ $ 30,521 ​ $ 33,166 Carrying Amount ​ $ 29,614 ​ $ 32,174
Schedule of allowance for loan losses and recorded investment in loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Commercial Commercial ​ ​ ​ ​ Residential ​ Commercial ​ Secured ​ Unsecured ​ Consumer ​ Total ​ ​ (In Thousands) Allowance for Credit Losses: ​ ​ ​ ​ ​ ​ ​ Beginning Balance ​ $ 541 ​ $ 55 ​ $ 4 ​ $ 2 ​ $ 21 ​ $ 623 Charge-offs ​ (63) ​ — ​ — ​ — ​ (8) ​ (71) Recoveries ​ 1 ​ — ​ — ​ — ​ 5 ​ 6 Transfer ​ 3 ​ (10) ​ 1 ​ — ​ 6 ​ — Provisions ​ 68 ​ — ​ — ​ — ​ — ​ 68 Adoption of new accounting standard ​ ​ 252 ​ ​ 105 ​ ​ 27 ​ ​ (2) ​ ​ 54 ​ ​ 436 Ending Balance ​ $ 802 ​ $ 150 ​ $ 32 ​ $ — ​ $ 78 ​ $ 1,062 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending Balance: Collectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Evaluated ​ $ 802 ​ $ 150 ​ $ 32 ​ $ — ​ $ 78 ​ $ 1,062 Loans Receivable: ​ ​ ​ ​ ​ ​ Ending Balance ​ $ 107,035 ​ $ 10,948 ​ $ 1,522 ​ $ 12 ​ $ 5,759 ​ $ 125,276 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ 693 ​ $ — ​ $ — ​ $ — ​ $ 693 Ending Balance: Collectively ​ ​ ​ ​ ​ ​ Evaluated ​ $ 107,035 ​ $ 10,255 ​ $ 1,522 ​ $ 12 ​ $ 5,759 ​ $ 124,583 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Commercial Commercial ​ ​ ​ ​ ​ Residential ​ Commercial ​ Secured ​ Unsecured ​ Consumer ​ Total ​ ​ ​ ​ ​ ​ ​ ​ (In Thousands) ​ (Unaudited) ​ ​ ​ ​ ​ ​ ​ Allowance for Credit Losses: ​ ​ ​ ​ ​ ​ ​ Beginning Balance ​ $ 799 ​ $ 157 ​ $ 28 ​ $ — ​ $ 77 ​ $ 1,061 Charge-offs ​ (1) ​ — ​ — ​ — ​ (2) ​ (3) Recoveries ​ 1 ​ — ​ — ​ — ​ 3 ​ 4 Transfer ​ 3 ​ (7) ​ 4 ​ — ​ — ​ — Provisions ​ — ​ — ​ — ​ — ​ — ​ — Ending Balance ​ $ 802 ​ $ 150 ​ $ 32 ​ $ — ​ $ 78 ​ $ 1,062 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending Balance: Collectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Evaluated ​ $ 802 ​ $ 150 ​ $ 32 ​ $ — ​ $ 78 ​ $ 1,062 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Commercial Commercial ​ ​ ​ ​ ​ Residential ​ Commercial ​ Secured ​ Unsecured ​ Consumer ​ Total ​ ​ (In Thousands) Allowance for Credit Losses: ​ ​ ​ ​ ​ ​ ​ Beginning Balance ​ $ 548 ​ $ 55 ​ $ 4 ​ $ — ​ $ 14 ​ $ 621 Charge-offs ​ — ​ — ​ — ​ — ​ (10) ​ (10) Recoveries ​ 1 ​ — ​ — ​ — ​ 1 ​ 2 Transfer ​ (13) ​ 1 ​ — ​ — ​ 12 ​ — Provisions ​ 62 ​ — ​ — ​ — ​ — ​ 62 Ending Balance ​ $ 598 ​ $ 56 ​ $ 4 ​ $ — ​ $ 17 ​ $ 675 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ 107 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 107 Ending Balance: Collectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Evaluated ​ $ 491 ​ $ 56 ​ $ 4 ​ $ — ​ $ 17 ​ $ 568 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Commercial Commercial ​ ​ ​ ​ Residential ​ Commercial ​ Secured ​ Unsecured ​ Consumer ​ Total ​ ​ (In Thousands) Allowance for Credit Losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning Balance ​ $ 561 ​ $ 55 ​ $ 4 ​ $ 1 ​ $ 13 ​ $ 634 Charge-offs ​ — ​ — ​ — ​ — ​ (6) ​ (6) Recoveries ​ — ​ — ​ — ​ — ​ — ​ — Transfer ​ (10) ​ 1 ​ — ​ (1) ​ 10 ​ — Provisions ​ 47 ​ — ​ — ​ — ​ — ​ 47 Ending Balance ​ $ 598 ​ $ 56 ​ $ 4 ​ $ — ​ $ 17 ​ $ 675 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ 107 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 107 Ending Balance: Collectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Evaluated ​ $ 491 ​ $ 56 ​ $ 4 ​ $ — ​ $ 17 ​ $ 568 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Commercial Commercial ​ ​ ​ ​ ​ Residential ​ Commercial ​ Secured ​ Unsecured ​ Consumer ​ Total ​ ​ (In Thousands) Loans Receivable: ​ ​ ​ ​ ​ ​ Ending Balance ​ $ 107,479 ​ $ 11,490 ​ $ 1,501 ​ $ — ​ $ 6,135 ​ $ 126,605 Less: Acquired Loans ​ 27,744 ​ 3,843 ​ 455 ​ — ​ 1,124 ​ 33,166 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ 298 ​ $ — ​ $ — ​ $ — ​ $ 298 Ending Balance: Collectively ​ ​ ​ ​ ​ ​ Evaluated ​ $ 79,735 ​ $ 7,349 ​ $ 1,046 ​ $ — ​ $ 5,011 ​ $ 93,141
Schedule of Performing and nonperforming real estate loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ As of September 30, ​ ​ 2024 ​ 2023 ​ ​ (unaudited) ​ ​ ​ ​ ​ (In Thousands) Performing $ 116,789 $ 118,269 Nonperforming ​ 1,194 ​ 700 Total ​ $ 117,983 ​ $ 118,969
Schedule of credit risk profile for originated loans held in portfolio by internally assigned grade	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ Special Mention ​ Substandard ​ Doubtful ​ Total ​ ​ (unaudited) ​ ​ (In Thousands) Mortgage Loans on Real Estate ​ ​ ​ ​ ​ Residential, One to Four Family ​ $ 105,411 ​ $ — ​ $ — ​ $ — ​ $ 105,411 Home Equity ​ 1,624 ​ — ​ — ​ — ​ 1,624 Commercial ​ 10,096 ​ 159 ​ 693 ​ — ​ 10,948 Total Mortgage Loans on Real Estate ​ 117,131 ​ 159 ​ 693 ​ — ​ 117,983 Commercial ​ 1,510 ​ 24 ​ — ​ — ​ 1,534 Consumer ​ 5,759 ​ — ​ — ​ — ​ 5,759 Total Loans ​ $ 124,400 ​ $ 183 ​ $ 693 ​ $ — ​ $ 125,276 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ Special Mention ​ Substandard ​ Doubtful ​ Total ​ ​ (In Thousands) Mortgage Loans on Real Estate ​ ​ ​ ​ ​ Residential, One to Four Family ​ $ 77,183 ​ $ — ​ $ — ​ $ — ​ $ 77,183 Home Equity ​ 2,552 ​ — ​ — ​ — ​ 2,552 Commercial ​ 7,349 ​ — ​ 298 ​ — ​ 7,647 Total Mortgage Loans on Real Estate ​ 87,084 ​ — ​ 298 ​ — ​ 87,382 Commercial ​ 1,046 ​ — ​ — ​ — ​ 1,046 Consumer ​ 5,011 ​ — ​ — ​ — ​ 5,011 Total Loans ​ $ 93,141 ​ $ — ​ $ 298 ​ $ — ​ $ 93,439 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ Special Mention ​ Substandard ​ Doubtful ​ Total ​ ​ (In Thousands) Mortgage Loans on Real Estate ​ ​ ​ ​ ​ Residential, One to Four Family ​ $ 27,333 ​ $ — ​ $ — ​ $ — ​ $ 27,333 Home Equity ​ 411 ​ — ​ — ​ — ​ 411 Commercial ​ 3,231 ​ 210 ​ 402 ​ — ​ 3,843 Total Mortgage Loans on Real Estate ​ 30,975 ​ 210 ​ 402 ​ — ​ 31,587 Commercial ​ 423 ​ 32 ​ — ​ — ​ 455 Consumer ​ 1,124 ​ — ​ — ​ — ​ 1,124 Total Loans ​ $ 32,522 ​ $ 242 ​ $ 402 ​ $ — ​ $ 33,166 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loans by Fiscal Year of Origination ​ ​ ​ ​ ​ ​ (in thousands) ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ Prior ​ Revolving ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate - Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 4,220 ​ $ 11,511 ​ $ 15,446 ​ $ 18,256 ​ $ 9,402 ​ $ 46,576 ​ $ 1,624 ​ $ 107,035 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Real Estate - Residential ​ $ 4,220 ​ $ 11,511 ​ $ 15,446 ​ $ 18,256 ​ $ 9,402 ​ $ 46,576 ​ $ 1,624 ​ $ 107,035 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ 63 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 63 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate - Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 290 ​ $ 2,212 ​ $ 596 ​ $ 2,359 ​ $ 1,938 ​ $ 2,701 ​ $ — ​ $ 10,096 Special Mention ​ — ​ — ​ — ​ — ​ — ​ 159 ​ ​ — ​ 159 Substandard ​ — ​ 429 ​ — ​ 197 ​ 67 ​ — ​ ​ — ​ 693 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Real Estate - Commercial ​ $ 290 ​ $ 2,641 ​ $ 596 ​ $ 2,556 ​ $ 2,005 ​ $ 2,860 ​ $ — ​ $ 10,948 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial - Secured ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 219 ​ $ 420 ​ $ 100 ​ $ 204 ​ $ 303 ​ $ 252 ​ $ — ​ $ 1,498 Special Mention ​ — ​ — ​ — ​ — ​ — ​ 24 ​ ​ — ​ 24 Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Commercial - Secured ​ $ 219 ​ $ 420 ​ $ 100 ​ $ 204 ​ $ 303 ​ $ 276 ​ $ — ​ $ 1,522 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial - Unsecured ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 1 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 11 ​ $ — ​ $ 12 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Commercial - Unsecured ​ $ 1 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 11 ​ $ — ​ $ 12 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 1,044 ​ $ 2,235 ​ $ 1,212 ​ $ 664 ​ $ 309 ​ $ 295 ​ $ — ​ $ 5,759 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Consumer ​ $ 1,044 ​ $ 2,235 ​ $ 1,212 ​ $ 664 ​ $ 309 ​ $ 295 ​ $ — ​ $ 5,759 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ 8 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 8 ​
Schedule of aging analysis of past due financing receivables by class of financing receivable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days or ​ ​ ​ ​ ​ ​ ​ Total ​ 90 Days or ​ ​ 30 – 59 Days ​ 60 – 89 Days ​ Greater ​ Total ​ ​ ​ ​ Financing ​ Greater and ​ ​ Past Due ​ Past Due ​ Past Due ​ Past Due ​ Current ​ Receivable ​ Still accruing ​ (In Thousands) Residential Mortgage $ 836 $ 204 $ 239 $ 1,279 $ 105,756 $ 107,035 $ — Commercial Mortgage ​ 198 ​ — ​ 30 ​ 228 ​ 10,720 ​ 10,948 ​ — Commercial ​ — ​ — ​ — ​ — ​ 1,534 ​ 1,534 ​ — Consumer ​ 42 ​ 15 ​ 9 ​ 66 ​ 5,693 ​ 5,759 ​ — Total Loans ​ $ 1,076 ​ $ 219 ​ $ 278 ​ $ 1,573 ​ $ 123,703 ​ $ 125,276 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days or ​ ​ ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ ​ ​ Total ​ Greater ​ ​ 30 – 59 Days ​ 60 – 89 Days ​ 90 Days or ​ Total ​ ​ ​ ​ Financing ​ and Still ​ ​ Past Due ​ Past Due ​ Past Due ​ Past Due ​ Current ​ Receivable ​ accruing ​ (In Thousands) Residential Mortgage $ 810 $ 5 $ 138 $ 953 $ 78,782 $ 79,735 $ — Commercial Mortgage ​ — ​ — ​ 66 ​ 66 ​ 7,581 ​ 7,647 ​ — Commercial ​ — ​ — ​ — ​ — ​ 1,046 ​ 1,046 ​ — Consumer ​ 84 ​ 11 ​ — ​ 95 ​ 4,916 ​ 5,011 ​ — Total Originated Loans ​ $ 894 ​ $ 16 ​ $ 204 ​ $ 1,114 ​ $ 92,325 ​ $ 93,439 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days or ​ ​ ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ ​ ​ Total ​ Greater ​ ​ 30 – 59 Days ​ 60 – 89 Days ​ 90 Days or ​ Total ​ ​ ​ ​ Financing ​ and Still ​ ​ Past Due ​ Past Due ​ Past Due ​ Past Due ​ Current ​ Receivable ​ accruing ​ (In Thousands) Residential Mortgage $ 33 $ — $ 62 $ 95 $ 27,649 $ 27,744 $ — Commercial Mortgage ​ — ​ — ​ — ​ — ​ 3,843 ​ 3,843 ​ — Commercial ​ — ​ — ​ — ​ — ​ 455 ​ 455 ​ — Consumer ​ — ​ — ​ — ​ — ​ 1,124 ​ 1,124 ​ — Total Acquired Loans ​ $ 33 ​ $ — ​ $ 62 ​ $ 95 ​ $ 33,071 ​ $ 33,166 ​ $ —
Schedule of the Company's nonaccrual loans by major categories	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CECL Incurred Loss ​ ​ March 31, 2024 ​ September 30, 2023 ​ ​ Nonaccrual loans ​ Nonaccrual loans ​ Total Nonaccrual ​ ​ (in thousands) ​ with No Allowance ​ with an Allowance ​ Loans ​ Nonaccrual Loans Real Estate - Residential ​ $ — ​ $ 651 ​ $ 651 ​ $ 153 Real Estate - Commercial ​ — ​ 465 ​ 465 ​ 468 Commercial - Secured ​ — ​ 30 ​ 30 ​ — Commercial - Unsecured ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ — ​ 9 ​ 9 ​ 9 Total Loans ​ $ — ​ $ 1,155 ​ $ 1,155 ​ $ 630
Schedule of accrued interest receivable written off by reversing interest income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Six Months ​ ​ Ended March 31, 2024 ​ ​ (in thousands) Real Estate - Residential ​ $ 18 Real Estate - Commercial ​ 18 Commercial - Secured ​ 1 Commercial - Unsecured ​ ​ — Consumer ​ — Total Loans ​ $ 37 ​

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Mar. 31, 2024
GOODWILL AND INTANGIBLE ASSETS
Schedule of Goodwill and Core Deposit Intangibles	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended March 31, ​ Year ended September 30, ​ ​ 2024 ​ 2023 ​ ​ Gross ​ ​ ​ ​ Net ​ Gross ​ ​ ​ ​ Net ​ ​ Carrying ​ Accumulated ​ Carrying ​ Carrying ​ Accumulated ​ Carrying ​ ​ Amount ​ Amortization ​ Amount ​ Amount ​ Amortization ​ Amount ​ ​ (In Thousands) Goodwill $ 4,237 $ — $ 4,237 $ 4,237 $ — $ 4,237 Core Deposit Intangible ​ 2,542 ​ 670 ​ 1,872 ​ 2,542 ​ 462 ​ 2,080 ​ ​ $ 6,779 ​ $ 670 ​ $ 6,109 ​ $ 6,779 ​ $ 462 ​ $ 6,317
Schedule of Estimated Aggregate Amortization Expense	​ ​ ​ ​ ​ ​ Fiscal Year Ended September 30, (in thousands) 2024 $ 416 2025 ​ 370 2026 ​ 323 2027 ​ 277 2028 ​ 231 ​ ​ $ 1,617 ​

FINANCIAL INSTRUMENTS WITH OF_2

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK (Tables)	6 Months Ended
	Mar. 31, 2024
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK
Summary of financial instrument commitments	​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, September 30, ​ 2024 2023 ​ (unaudited) ​ ​ ​ ​ (in thousands) Commitments to Grant Loans ​ $ 929 ​ $ 1,089 Unfunded Commitments Under Lines of Credit ​ $ 5,827 ​ $ 6,022
Schedule of balance and activity in the allowance for credit losses for unfunded loan commitments	​ ​ ​ ​ ​ ​ ​ Total Allowance for Credit ​ ​ Losses - Unfunded (in thousands) ​ Commitments ​ ​ ​ ​ Balance, December 31, 2023 $ 31 Provision for unfunded commitments ​ — Balance, March 31, 2024 ​ $ 31 ​ ​ ​ ​ ​ ​ ​ Total Allowance for Credit ​ ​ Losses - Unfunded (in thousands) ​ Commitments ​ ​ ​ ​ Balance, September 30, 2023 $ — Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13 ​ 29 Provision for unfunded commitments ​ 2 Balance, March 31, 2024 ​ $ 31 ​

REGULATORY CAPITAL REQUIREMEN_2

REGULATORY CAPITAL REQUIREMENTS (Tables)	6 Months Ended
	Mar. 31, 2024
REGULATORY CAPITAL REQUIREMENTS
REGULATORY CAPITAL REQUIREMENTS	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum to be Well ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capitalized Under Prompt ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ Corrective Action ​ Actual Requirement Provisions ​ Amount ($) Ratio (%) Amount ($) Ratio (%) Amount ($) Ratio (%) ​ ​ (In Thousands) As of March 31, 2024 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Capital (to Risk-Weighted Assets) ​ $ 26,191 23.7 ≥ $ 8,826 ≥ 8.0 ≥ $ 11,033 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ 25,098 22.7 ≥ 6,620 ≥ 6.0 ≥ 8,826 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ 25,098 22.7 ≥ 4,965 ≥ 4.5 ≥ 7,171 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ 25,098 12.5 ≥ 8,024 ≥ 4.0 ≥ 10,031 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ 26,191 15.7 ≥ 7,723 ≥ 7.0 ≥ N/A ≥ N/A ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2023 ​ Total Capital (to Risk-Weighted Assets) ​ $ 21,906 19.4 ≥ $ 9,020 ≥ 8.0 ≥ $ 11,275 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ 21,283 18.9 ≥ 6,765 ≥ 6.0 ≥ 9,019 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ 21,283 18.9 ≥ 5,074 ≥ 4.5 ≥ 7,329 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ 21,283 10.6 ≥ 8,022 ≥ 4.0 ≥ 10,027 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ 21,906 11.4 ≥ 7,892 ≥ 7.0 ≥ N/A ≥ N/A
Muni Bank
REGULATORY CAPITAL REQUIREMENTS
REGULATORY CAPITAL REQUIREMENTS	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum to be Well ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capitalized Under Prompt ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ Corrective Action ​ ​ Actual ​ Requirement ​ Provisions ​ Amount ($) Ratio (%) ​ Amount ($) ​ Ratio (%) ​ Amount ($) ​ Ratio (%) ​ ​ (In Thousands) As of March 31, 2024 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Capital (to Risk-Weighted Assets) ​ $ 13,494 120.4 ≥ $ 896 ≥ 8.0 ≥ $ 1,120 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ ​ 13,494 120.4 ≥ ​ 672 ≥ 6.0 ≥ ​ 896 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ ​ 13,494 120.4 ≥ ​ 504 ≥ 4.5 ≥ ​ 728 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ ​ 13,494 39.8 ≥ ​ 1,357 ≥ 4.0 ≥ ​ 1,697 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ ​ 13,494 112.4 ≥ ​ 784 ≥ 7.0 ≥ ​ N/A ≥ N/A ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2023 ​ ​ Total Capital (to Risk-Weighted Assets) ​ $ 13,053 245.8 ≥ $ 425 ≥ 8.0 ≥ $ 531 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ ​ 13,053 245.8 ≥ ​ 319 ≥ 6.0 ≥ ​ 425 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ ​ 13,053 245.8 ≥ ​ 239 ≥ 4.5 ≥ ​ 345 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ ​ 13,053 37.4 ≥ ​ 1,394 ≥ 4.0 ≥ ​ 1,743 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ ​ 13,053 237.8 ≥ ​ 372 ≥ 7.0 ≥ ​ N/A ≥ N/A ​

INTEREST RATE DERIVATIVES (Tabl

INTEREST RATE DERIVATIVES (Tables)	6 Months Ended
	Mar. 31, 2024
INTEREST RATE DERIVATIVES
Schedule of information about interest rate swap agreements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Estimated ​ ​ ​ ​ ​ Average Rate ​ Weighted ​ Fair Value ​ ​ Notional ​ Contract ​ Average Rate ​ (Liability) ​ ​ Amount ​ Pay Rate ​ Received Rate ​ Asset ​ ​ (In Thousands) ​ ​ ​ (In Thousands) March 31, 2024 (unaudited) ​ ​ Interest Rate Swaps on Mortgage Loans ​ $ — — % — % $ — Interest Rate Swaps on FHLB Borrowings and Bank Deposits ​ $ 3,000 1.56 % 5.60 % $ 68 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ ​ Interest Rate Swaps on Mortgage Loans ​ $ — — % — % $ — Interest Rate Swaps on FHLB Borrowings and Bank Deposits ​ $ 5,500 2.04 % 5.35 % $ 250
Summary of the fair value of outstanding derivatives and their presentation in the consolidated statements of financial condition	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ As of September 30, ​ ​ 2024 2023 ​ ​ (unaudited) ​ ​ ​ ​ ​ ​ (In Thousands) Fair Value Hedge – Interest Rate Swap ​ ​ ​ ​ ​ ​ ​ Accrued Interest Receivable and Other Assets ​ $ 68 ​ $ 250 ​
Summary of the maturity outstanding derivatives	​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, September 30, ​ 2024 2023 ​ (unaudited) ​ ​ ​ ​ (in thousands) 2024 ​ $ — ​ $ — 2025 ​ 3,000 ​ 4,500 2026 ​ — ​ 1,000 ​ ​ $ 3,000 ​ $ 5,500 ​

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Mar. 31, 2024
FAIR VALUE MEASUREMENTS
Summary of financial assets and liabilities reported on recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ ​ ​ ​ ​ ​ ​ ​ for Identical Significant Other Significant ​ ​ Total Assets/Liabilities ​ Observable ​ Unobservable ​ Fair Value (Level 1 ) Inputs (Level 2) Inputs (Level 3) ​ (In Thousands) March 31, 2024 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 2,266 ​ $ — ​ $ 2,266 ​ $ — U.S. Government Agencies ​ ​ 11,525 ​ ​ — ​ ​ 11,525 ​ ​ — Mortgaged-Backed Securities ​ ​ 8,587 ​ ​ — ​ ​ 8,587 ​ ​ — Municipal Securities ​ ​ 23,386 ​ ​ — ​ ​ 23,386 ​ ​ — SBA Securities ​ ​ 2,138 ​ ​ — ​ ​ 2,138 ​ ​ — Available-for-Sale Securities ​ $ 47,902 ​ $ — ​ $ 47,902 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate Swap Derivative ​ $ 68 ​ $ — ​ $ 68 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 3,680 ​ $ — ​ $ 3,680 ​ $ — U.S. Government Agencies ​ ​ 11,662 ​ ​ — ​ ​ 11,662 ​ ​ — Mortgaged-Backed Securities ​ ​ 7,915 ​ ​ — ​ ​ 7,915 ​ ​ — Municipal Securities ​ ​ 20,995 ​ ​ — ​ ​ 20,995 ​ ​ — SBA Securities ​ ​ 2,372 ​ ​ — ​ ​ 2,372 ​ ​ — Available-for-Sale Securities ​ $ 46,624 ​ $ — ​ $ 46,624 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate Swap Derivative ​ $ 250 ​ $ — ​ $ 250 ​ $ —
Summary of financial assets and liabilities reported on nonrecurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ ​ ​ ​ ​ ​ ​ ​ for Identical ​ Significant Other ​ Significant ​ ​ Total ​ Assets/Liabilities ​ Observable ​ Unobservable ​ Fair Value (Level 1 ) Inputs (Level 2) Inputs (Level 3) ​ ​ (In Thousands) March 31, 2024 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreclosed Real Estate, Net ​ $ 39 ​ $ — ​ $ — ​ $ 39 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreclosed Real Estate, Net ​ $ 101 ​ $ — ​ $ — ​ $ 101
Summary of basis valuation techniques	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation Techniques ​ Unobservable Inputs ​ Weighted Average Range ​ ​ ​ ​ ​ ​ ​ Individually Evaluated Loans Appraisal of Collateral Appraisal Adjustments 25% - 25% (25%) ​ ​ (Sales Approach) ​ Costs to Sell ​ 6% - 10% (8%) ​ ​ Discounted Cash Flow ​ ​ ​ ​ Foreclosed Assets ​ Appraisal of Collateral ​ Appraisal Adjustments ​ 25% - 25% (25%) ​ ​ (Sales Approach) ​ Costs to Sell ​ 6% - 10% (8%)
Summary of estimated fair values of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ Carrying Value Fair Value ​ (unaudited) ​ ​ (In Thousands) Financial Assets ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 8,357 ​ $ 8,357 Interest bearing deposits with banks ​ 1,756 ​ 1,756 Time deposits in other financial institutions ​ 245 ​ 245 Available for sale debt securities ​ 47,902 ​ 47,902 Acquired loans ​ 29,614 ​ ​ 29,614 Portfolio loans, net of deferred fees ​ 94,108 ​ 78,137 Investment in restricted stock ​ 1,045 ​ 1,045 Accrued interest receivable ​ 679 ​ 679 Interest rate swap derivative ​ 68 ​ 68 Financial Liabilities ​ ​ ​ ​ ​ ​ Deposits ​ $ 162,767 ​ $ 121,591 Accrued interest payable ​ 13 ​ 13 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ Carrying Value Fair Value ​ (In Thousands) Financial Assets ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 9,306 ​ $ 9,306 Interest bearing deposits with banks ​ 1,101 ​ 1,101 Time deposits in other financial institutions ​ 484 ​ 484 Available for sale debt securities ​ 46,624 ​ 46,624 Acquired loans ​ 32,174 ​ 32,174 Portfolio loans, net of deferred fees ​ 93,253 ​ 69,608 Investment in restricted stock ​ 1,471 ​ 1,471 Accrued interest receivable ​ 630 ​ 630 Interest rate swap derivative ​ 250 ​ 250 Financial Liabilities ​ ​ ​ ​ ​ ​ Deposits ​ $ 158,778 ​ $ 119,212 Accrued interest payable ​ 67 ​ 67

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Mar. 31, 2024
LEASES
Summary of future minimum payments for operating leases	​ ​ ​ ​ ​ ​ (unaudited) 2024 ​ $ 11,000 2025 ​ 21,000 2026 ​ 14,000 2027 ​ 13,000 2028 ​ 13,000 ​ ​ $ 72,000
Summary of information of leases	​ ​ ​ ​ ​ Operating lease right of use assets $ 55,000 Operating lease liability ​ $ 55,000 Weighted average remaining lease term, in years: ​ ​ 4.09 For the three months ended March 31, 2024: ​ ​ ​ Operating lease expense: ​ $ 6,000 Short-term lease expense: ​ — Total lease expense: ​ $ 6,000 Cash paid for amounts included in measurement of lease liabilities: ​ $ 6,000 For the six months ended March 31, 2024: ​ ​ ​ Operating lease expense: ​ $ 11,000 Short-term lease expense: ​ — Total lease expense: ​ $ 11,000 Cash paid for amounts included in measurement of lease liabilities: ​ $ 11,000 ​

PARENT COMPANY FINANCIAL INFO_2

PARENT COMPANY FINANCIAL INFORMATION (Tables)	6 Months Ended
	Mar. 31, 2024
PARENT COMPANY FINANCIAL INFORMATION
Summary of condensed balance sheet	​ ​ ​ ​ ​ ​ ​ ​ Gouverneur Bancorp, Inc. ​ CONDENSED STATEMENTS OF FINANCIAL CONDITION PARENT COMPANY ONLY As of March 31, 2024 (unaudited) and September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 September 30, 2023 ​ ​ (unaudited) ​ ​ ​ ​ ​ (In Thousands, Except Share and Per Share Amounts) Assets ​ ​ ​ ​ ​ ​ Cash and Cash Equivalents: ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 2,431 ​ $ 19 Interest bearing deposits with banks ​ ​ 153 ​ ​ 4,575 Total Cash and Cash Equivalents ​ ​ 2,584 ​ ​ 4,594 ​ ​ ​ ​ ​ ​ ​ ESOP loan receivable ​ ​ 522 ​ ​ — ​ ​ ​ ​ ​ ​ ​ Accrued interest receivable and other assets ​ ​ 115 ​ ​ 11 Investment in subsidiary ​ ​ 29,246 ​ ​ 23,865 ​ ​ ​ ​ ​ ​ ​ Total Assets ​ $ 32,467 ​ $ 28,470 ​ ​ ​ ​ ​ ​ ​ Liabilities and Stockholders' Equity ​ ​ ​ ​ ​ ​ Accrued interest payable and other liabilities ​ $ 732 ​ $ 3,362 ​ ​ ​ ​ ​ ​ ​ Total Liabilities ​ ​ 732 ​ ​ 3,362 ​ ​ ​ ​ ​ ​ ​ Stockholders' Equity ​ ​ ​ ​ ​ ​ Preferred stock, $.01 par value: March 31, 2024: 25,000,000 shares authorized; none issued ​ ​ ​ ​ ​ ​ September 30, 2023: 1,000,000 shares authorized; none issued ​ ​ — ​ ​ — Common stock, $.01 par value: March 31, 2024: 75,000,000 shares authorized; 1,107,134 shares issued ​ ​ ​ ​ ​ ​ September 30, 2023: 9,000,000 shares authorized; 2,031,377 shares issued ​ ​ 11 ​ ​ 24 Additional paid-in capital ​ ​ 6,487 ​ ​ 5,035 Retained earnings ​ ​ 28,094 ​ ​ 28,242 Treasury Stock, at cost, (shares March 31, 2024: 0: September 30, 2023: 352,231) ​ ​ — ​ ​ (4,070) Accumulated other comprehensive loss ​ ​ (2,317) ​ ​ (4,123) Unearned common stock held by employee stock ownership plan ​ ​ (540) ​ ​ — Total Stockholders' Equity ​ ​ 31,735 ​ ​ 25,108 ​ ​ ​ ​ ​ ​ ​ Total Liabilities and Stockholders' Equity ​ $ 32,467 ​ $ 28,470 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of condensed income statement	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gouverneur Bancorp, Inc. ​ CONDENSED STATEMENTS OF EARNINGS - PARENT COMPANY ONLY For the Three and Six Months Ended March 31, 2024 and 2023 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ Six Months Ended March 31, ​ 2024 2023 2024 2023 ​ ​ (unaudited) ​ ​ (In Thousands, except per share data) Interest Income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans receivable, including fees ​ $ — ​ $ — ​ $ 8 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Interest Income ​ ​ — ​ ​ — ​ ​ 8 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Interest Income ​ ​ — ​ ​ — ​ ​ 8 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest Income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividend Income ​ ​ — ​ ​ — ​ ​ — ​ ​ 203 Earnings (loss) on deferred fees plan ​ ​ 17 ​ ​ — ​ ​ 11 ​ ​ — Earnings (losses) from subsidiaries ​ ​ 206 ​ ​ (13) ​ ​ 385 ​ ​ 46 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Non-interest Income (Loss) ​ ​ 223 ​ ​ (13) ​ ​ 396 ​ ​ 249 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest Expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Directors' fees ​ ​ 22 ​ ​ — ​ ​ 36 ​ ​ — Earnings (losses) on deferred fees plan ​ ​ 17 ​ ​ — ​ ​ 11 ​ ​ — Professional fees ​ ​ 29 ​ ​ 7 ​ ​ 63 ​ ​ 7 Other non-interest expenses ​ ​ 53 ​ ​ 27 ​ ​ 74 ​ ​ 38 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Non-interest Expenses ​ ​ 121 ​ ​ 34 ​ ​ 184 ​ ​ 45 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (Loss) before Income Tax Expense ​ ​ 102 ​ ​ (47) ​ ​ 220 ​ ​ 204 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income Tax Expense ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Income (Loss) ​ $ 102 ​ $ (47) ​ $ 220 ​ $ 204 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and Diluted Earnings Per Share ​ $ 0.10 ​ $ (0.02) ​ $ 0.21 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of condensed Cash flow	​ ​ ​ ​ ​ ​ ​ ​ ​ Gouverneur Bancorp, Inc. ​ CONDENSED STATEMENTS OF CASH FLOWS - PARENT ONLY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended March 31, ​ ​ 2024 2023 ​ ​ (unaudited) ​ ​ ​ (In Thousands) ​ Cash Flows from Operating Activities: ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 220 ​ $ 204 ​ Adjustments to reconcile net income (loss) to net cash and cash equivalents provided by operating activities: ​ ​ ​ ​ ​ ​ ​ Equity in undistributed net earnings of subsidiaries ​ ​ (385) ​ ​ (46) ​ ESOP committed to be released ​ ​ 37 ​ ​ — ​ Change in other Assets ​ ​ (3,662) ​ ​ 245 ​ Change in other Liabilities ​ ​ (2,630) ​ ​ (252) ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Cash (Used in) Provided by Operating Activities ​ ​ (6,420) ​ ​ 151 ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flows from Investing Activities: ​ ​ ​ ​ ​ ​ ​ ESOP loan issued ​ ​ (578) ​ ​ — ​ Net decrease in loans receivable ​ ​ 56 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Cash Used in Investing Activities ​ ​ (522) ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flows from Financing Activities: ​ ​ ​ ​ ​ ​ ​ Net stock offering proceeds ​ ​ 4,932 ​ ​ — ​ Cash dividends paid ​ ​ — ​ ​ (204) ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Cash Provided by (Used in) Financing Activities ​ ​ 4,932 ​ ​ (204) ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Decrease in Cash and Cash Equivalents ​ ​ (2,010) ​ ​ (53) ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and Cash Equivalents - Beginning of Period ​ ​ 4,594 ​ ​ 107 ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and Cash Equivalents - End of Period ​ $ 2,584 ​ $ 54 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Basis of Presentation (Details)

Basis of Presentation (Details)		1 Months Ended		6 Months Ended
	Sep. 16, 2022 $ / shares	Oct. 31, 2023 USD ($) $ / shares shares	Sep. 30, 2022 USD ($)	Mar. 31, 2024 USD ($) shares
Nature of Operations
Gross proceeds | $				$ 4,932,000
Share of common stock | shares				1,107,134
Employee stock ownership | shares				57,845
Municipal Bank
Nature of Operations
Initial contribution | $			$ 2,500,000
Gouverneur Savings and Loan Association
Nature of Operations
Gross proceeds | $		$ 7,200,000
Share of common stock | shares		723,068
Share issued (in dollar per share) | $ / shares		$ 10
Employee stock ownership | shares		57,845
Conversion ratio		0.5334
Citizens Bank of Cape Vincent
Nature of Operations
Cash entitled to pay per each share | $ / shares	$ 1,056.11
Citizens Bank of Cape Vincent | Municipal Bank
Nature of Operations
Amount kept in municipal deposits | $			$ 24,187,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) $ in Millions	Mar. 31, 2024 USD ($)
Significant Accounting Policies
Deposits	$ 25.6
Municipal Bank
Significant Accounting Policies
Investment securities portfolio	27.6
Deposits	$ 47.9

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Impact on allowance for credit losses from adoption of ASC 326 (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023	Oct. 01, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022
Loans, at amortized cost
Allowance for credit losses	$ 1,062,000	$ 1,061,000		$ 623,000	$ 675,000	$ 634,000	$ 621,000
Liabilities:
Allowance for credit losses for unfunded commitments	31,000	31,000
Pre-ASC 326 Adoption
Loans, at amortized cost
Allowance for loan losses, Pre-ASC 326 Adoption				623,000
Residential | Pre-ASC 326 Adoption
Loans, at amortized cost
Allowance for loan losses, Pre-ASC 326 Adoption				527,000
MAP & MPF secondary market mortgages | Pre-ASC 326 Adoption
Loans, at amortized cost
Allowance for loan losses, Pre-ASC 326 Adoption				14,000
Commercial
Loans, at amortized cost
Allowance for credit losses	150,000	157,000		55,000	56,000	55,000	55,000
Commercial | Pre-ASC 326 Adoption
Loans, at amortized cost
Allowance for loan losses, Pre-ASC 326 Adoption				55,000
Commercial loans
Loans, at amortized cost
Allowance for credit losses	32,000	28,000		4,000	4,000	4,000	4,000
Commercial loans | Pre-ASC 326 Adoption
Loans, at amortized cost
Allowance for loan losses, Pre-ASC 326 Adoption				4,000
Commercial Unsecured
Loans, at amortized cost
Allowance for credit losses				2,000		1,000
Commercial Unsecured | Pre-ASC 326 Adoption
Loans, at amortized cost
Allowance for loan losses, Pre-ASC 326 Adoption				2,000
Consumer
Loans, at amortized cost
Allowance for credit losses	78,000	$ 77,000		21,000	$ 17,000	$ 13,000	$ 14,000
Consumer | Pre-ASC 326 Adoption
Loans, at amortized cost
Allowance for loan losses, Pre-ASC 326 Adoption				$ 21,000
ASU 2016-13 | Impact of ASC 326 Adoption
Loans, at amortized cost
Allowance for credit losses			$ 436,000
Liabilities:
Allowance for credit losses for unfunded commitments			29,000
ASU 2016-13 | Residential | Impact of ASC 326 Adoption
Loans, at amortized cost
Allowance for credit losses			252,000
ASU 2016-13 | Commercial | Impact of ASC 326 Adoption
Loans, at amortized cost
Allowance for credit losses			105,000
ASU 2016-13 | Commercial loans | Impact of ASC 326 Adoption
Loans, at amortized cost
Allowance for credit losses			27,000
ASU 2016-13 | Commercial Unsecured | Impact of ASC 326 Adoption
Loans, at amortized cost
Allowance for credit losses			(2,000)
ASU 2016-13 | Consumer | Impact of ASC 326 Adoption
Loans, at amortized cost
Allowance for credit losses			54,000
ASU 2016-13 | As Reported Under ASC 326
Loans, at amortized cost
Allowance for credit losses			1,059,000
Liabilities:
Allowance for credit losses for unfunded commitments	$ 29,000		29,000
ASU 2016-13 | As Reported Under ASC 326 | Residential
Loans, at amortized cost
Allowance for credit losses			779,000
ASU 2016-13 | As Reported Under ASC 326 | MAP & MPF secondary market mortgages
Loans, at amortized cost
Allowance for credit losses			14,000
ASU 2016-13 | As Reported Under ASC 326 | Commercial
Loans, at amortized cost
Allowance for credit losses			160,000
ASU 2016-13 | As Reported Under ASC 326 | Commercial loans
Loans, at amortized cost
Allowance for credit losses			31,000
ASU 2016-13 | As Reported Under ASC 326 | Consumer
Loans, at amortized cost
Allowance for credit losses			75,000
ASU 2016-13 | Adoption of ASU 2016-13 Current Expected Credit Losses
Loans, at amortized cost
Allowance for credit losses			436,000
Liabilities:
Allowance for credit losses for unfunded commitments			$ 29,000

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Recently Issued Accounting Standards (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023	Oct. 01, 2023	Sep. 30, 2023
Significant Accounting Policies
Allowance for credit losses for unfunded commitments	$ 31,000	$ 31,000
Retained earnings	28,094,000			$ 28,242,000
Allowance for credit loss related to the available for sale portfolio	0
Accrued interest receivable on available for sale debt securities	277,000
Accrued interest receivable related to loans	$ 376,000
Cumulative Effect, Period of Adoption, Adjustment | ASU 2016-13
Significant Accounting Policies
Allowance for credit losses for unfunded commitments			$ 29,000
Retained earnings			$ 368,000

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Basic earnings per share:
Net income (loss)	$ 102	$ (47)	$ 220
Weighted average common shares outstanding used to calculate basic earnings per common share	1,053	2,031	1,052	2,031
Weighted average common shares outstanding used to calculate diluted earnings per common share	1,053	2,031	1,052	2,031
Basic earnings per common share	$ 0.10	$ (0.02)	$ 0.21
Diluted earnings per common share	$ 0.10	$ (0.02)	$ 0.21

Earnings Per Common Share - Add

Earnings Per Common Share - Additional Information (Details) - shares shares in Thousands	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Common Share
Dilutive Securities	0	0
Antidilutive Securities	0	0

Comprehensive Income (Loss) (De

Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Comprehensive Income (Loss)
Unrealized Loss for Other Postretirement Obligations	$ (264)	$ (326)
Tax Effect	55	69
Net Unrealized Loss for Other Postretirement Obligations	(209)	(257)
Unrealized Loss on Available-for-Sale Securities, net	(2,669)	(4,890)
Tax Effect	561	1,024
Net Unrealized Loss on Available-for-Sale Securities	(2,108)	(3,866)
Total Comprehensive Loss	$ (2,317)	$ (4,123)

Investment Securities - Amortiz

Investment Securities - Amortized Cost of Debt Securities and Fair Value (Details) - USD ($)	Mar. 31, 2024	Sep. 30, 2023
AVAILABLE FOR SALE
Amortized Cost	$ 50,570,000
Amortized Cost		$ 51,514,000
Gross Unrealized Gains	129,000	3,000
Gross Unrealized Losses	(2,797,000)	(4,893,000)
Allowance for Credit Losses	0
Available for sale debt securities	47,902,000
Fair Value		46,624,000
U.S. Government Treasuries
AVAILABLE FOR SALE
Amortized Cost	2,313,000
Amortized Cost		3,766,000
Gross Unrealized Losses	(47,000)	(86,000)
Available for sale debt securities	2,266,000
Fair Value		3,680,000
U.S. Government Agencies
AVAILABLE FOR SALE
Amortized Cost	11,681,000
Amortized Cost		12,025,000
Gross Unrealized Losses	(156,000)	(363,000)
Available for sale debt securities	11,525,000
Fair Value		11,662,000
Mortgaged-Backed Securities
AVAILABLE FOR SALE
Amortized Cost	9,076,000
Amortized Cost		8,726,000
Gross Unrealized Gains	1,000	1,000
Gross Unrealized Losses	(490,000)	(812,000)
Available for sale debt securities	8,587,000
Fair Value		7,915,000
Municipal Securities
AVAILABLE FOR SALE
Amortized Cost	25,332,000
Amortized Cost		24,571,000
Gross Unrealized Gains	124,000	2,000
Gross Unrealized Losses	(2,070,000)	(3,578,000)
Available for sale debt securities	23,386,000
Fair Value		20,995,000
SBA Securities
AVAILABLE FOR SALE
Amortized Cost	2,168,000
Amortized Cost		2,426,000
Gross Unrealized Gains	4,000
Gross Unrealized Losses	(34,000)	(54,000)
Available for sale debt securities	$ 2,138,000
Fair Value		$ 2,372,000

Investment Securities - Contrac

Investment Securities - Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Debt Securities Available-for-Sale, Amortized Cost
Due Within One Year	$ 4,983	$ 6,585
Due After One Year Through Five Years	12,968	13,789
Due After Five Years Through Ten Years	5,657	4,437
Due After Ten Years	15,718	15,551
Total	39,326	40,362
Mortgage-Backed & SBA Securities with no set maturitiy	11,244	11,152
Amortized Cost	50,570
Amortized Cost		51,514
Debt Securities Available-for-Sale, Fair Value
Due Within One Year	4,969	6,548
Due After One Year Through Five Years	12,842	13,474
Due After Five Years Through Ten Years	5,437	4,127
Due After Ten Years	13,929	12,188
Total	37,177	36,337
Mortgage-Backed & SBA Securities with no set maturitiy	10,725	10,287
Fair Value	$ 47,902
Fair Value		$ 46,624

Investment Securities - Realize

Investment Securities - Realized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Mar. 31, 2023
Investment Securities
Proceeds	$ 3,324	$ 4,988
Cost	(3,643)	(5,649)
Net Realized Gains (Losses)	(319)	(661)
Gross Realized Gains	2
Gross Realized Losses	$ (321)	$ (661)

Investment Securities - Continu

Investment Securities - Continuous Unrealized Loss Position (Details) $ in Thousands	Mar. 31, 2024 USD ($) security	Sep. 30, 2023 USD ($) security	Sep. 30, 2022 security
Investment Securities
Less than Twelve months, Gross Unrealized losses	$ 98	$ 1,700
Less than Twelve months, Fair value	6,256	30,399
Over Twelve months, Gross Unrealized losses	2,699	3,193
Over Twelve months, Fair value	30,489	14,600
Total, Gross Unrealized losses	2,797	4,893
Total, Fair value	$ 36,745	$ 44,999
Number of positions
Unrealized loss position of less than twelve months | security	25	106
Unrealized loss position of 12 months or more | security	112	76
Citizens Bank of Cape Vincent
Number of positions
Unrealized loss position of less than twelve months | security			10
Unrealized loss position of 12 months or more | security			74
US Treasuries & Agencies
Investment Securities
Less than Twelve months, Gross Unrealized losses	$ 9	$ 368
Less than Twelve months, Fair value	597	9,143
Over Twelve months, Gross Unrealized losses	194	81
Over Twelve months, Fair value	13,194	6,199
Total, Gross Unrealized losses	203	449
Total, Fair value	13,791	15,342
Mortgage-Backed & SBA Securities
Investment Securities
Less than Twelve months, Gross Unrealized losses	64	852
Less than Twelve months, Fair value	3,066	9,899
Over Twelve months, Gross Unrealized losses	460	14
Over Twelve months, Fair value	7,112	340
Total, Gross Unrealized losses	524	866
Total, Fair value	10,178	10,239
Municipal Securities
Investment Securities
Less than Twelve months, Gross Unrealized losses	25	480
Less than Twelve months, Fair value	2,593	11,357
Over Twelve months, Gross Unrealized losses	2,045	3,098
Over Twelve months, Fair value	10,183	8,061
Total, Gross Unrealized losses	2,070	3,578
Total, Fair value	$ 12,776	$ 19,418

LOANS RECEIVABLE AND ALLOWANC_3

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Components of Loans receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022
Components of loans receivable
Total Loans	$ 125,276
Total Loans			$ 126,605
Net Deferred Loan Costs	415
Net Deferred Loan Costs			437
Net Discounts on Acquired Loans	(907)		992
Net Discounts on Acquired Loans			(992)
Allowance for Credit Losses	(1,062)	$ (1,061)	(623)	$ (675)	$ (634)	$ (621)
Allowance for Loan Losses			(623)
Loans Receivable, Net			125,427
Loans Receivable, Net	123,722		125,427
Originated
Components of loans receivable
Total Loans			93,439
Net Deferred Loan Costs			437
Allowance for Loan Losses			(623)
Loans Receivable, Net			93,253
Acquired
Components of loans receivable
Total Loans			33,166
Net Discounts on Acquired Loans			(992)
Loans Receivable, Net			32,174
Residential
Components of loans receivable
Total Loans	102,956
Total Loans			102,251
Residential | Originated
Components of loans receivable
Total Loans			74,918
Residential | Acquired
Components of loans receivable
Total Loans			27,333
Commercial
Components of loans receivable
Total Loans	10,948
Total Loans			11,490
Allowance for Credit Losses	(150)	$ (157)	(55)	$ (56)	$ (55)	$ (55)
Commercial | Originated
Components of loans receivable
Total Loans			7,647
Commercial | Acquired
Components of loans receivable
Total Loans			3,843
Construction
Components of loans receivable
Total Loans	2,455
Total Loans			2,265
Construction | Originated
Components of loans receivable
Total Loans			2,265
Home equity loans and lines of credit
Components of loans receivable
Total Loans	1,624
Total Loans			2,963
Home equity loans and lines of credit | Originated
Components of loans receivable
Total Loans			2,552
Home equity loans and lines of credit | Acquired
Components of loans receivable
Total Loans			411
Commercial Non-Mortgage
Components of loans receivable
Total Loans	1,534
Total Loans			1,501
Commercial Non-Mortgage | Originated
Components of loans receivable
Total Loans			1,046
Commercial Non-Mortgage | Acquired
Components of loans receivable
Total Loans			455
Automobile
Components of loans receivable
Total Loans	2,903
Total Loans			3,027
Automobile | Originated
Components of loans receivable
Total Loans			2,793
Automobile | Acquired
Components of loans receivable
Total Loans			234
Passbook
Components of loans receivable
Total Loans	410
Total Loans			267
Passbook | Originated
Components of loans receivable
Total Loans			43
Passbook | Acquired
Components of loans receivable
Total Loans			224
Other consumer
Components of loans receivable
Total Loans	$ 2,446
Total Loans			2,841
Other consumer | Originated
Components of loans receivable
Total Loans			2,175
Other consumer | Acquired
Components of loans receivable
Total Loans			$ 666

LOANS RECEIVABLE AND ALLOWANC_4

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Outstanding principal balance and carrying amount (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Components of loans receivable
Balance	$ 125,276
Balance		$ 126,605
Carrying Amount	123,722	125,427
Carrying Amount		33,166
Acquired
Components of loans receivable
Balance		33,166
Acquired | Citizens Bank of Cape Vincent
Components of loans receivable
Balance	30,521
Balance		33,166
Carrying Amount	29,614
Carrying Amount		32,174
Acquired Non-Credit Impaired Loans | Citizens Bank of Cape Vincent
Components of loans receivable
Balance	30,521
Balance		33,166
Carrying Amount	$ 29,614
Carrying Amount		$ 32,174

LOANS RECEIVABLE AND ALLOWANC_5

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Narratives (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2023 USD ($) loan
Components of loans receivable
Interest income recognized until principal balance is collected	$ 0	$ 0	$ 0	$ 0
Credit performance modified term					2 years
Modified interest rate					6%
Term of notes receivable					5 years
Amortization term of notes receivable					25 years
Total Loans					$ 126,605,000
Total outstanding principal balance on serviced loans	11,900,000		11,900,000		12,400,000
Loans made to borrowers			0
Recorded investment balances					$ 0
Number of TDR's in payment default that were previously classified as a TDR					2
Commitments to lend additional funds					$ 0
Collateral Pledged
Components of loans receivable
Total Loans					108,000
Acquired Non-Credit Impaired Loans
Components of loans receivable
Proceeds paid off current principal and interest due					505,000
Real Estate Mortgages
Components of loans receivable
Total Loans					107,479,000
Consumer
Components of loans receivable
Total Loans					6,135,000
Commercial loans
Components of loans receivable
Total Loans					$ 1,501,000
Commercial loans | Substandard
Components of loans receivable
Credit performance modified term					2 years
Modified interest rate					6%
Term of notes receivable					5 years
Amortization term of notes receivable					25 years
Loan receivable, fair value	$ 103,000		$ 103,000
Commercial loans | Substandard | Collateral Pledged
Components of loans receivable
Total Loans					$ 108,000
Commercial loans | Substandard | Acquired Non-Credit Impaired Loans
Components of loans receivable
Proceeds paid off current principal and interest due					$ 505,000
Residential, One to Four Family
Components of loans receivable
Modified interest rate					6.50%
Interest rate					7.25%
Loans modified, principal balance					$ 11,000
Residential, One to Four Family | Acquired Non-Credit Impaired Loans
Components of loans receivable
Proceeds paid off current principal and interest due					$ 16,000

LOANS RECEIVABLE AND ALLOWANC_6

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
Allowance for Credit Losses:
Beginning Balance	$ 1,061	$ 634	$ 623	$ 621
Charge-offs	(3)	(6)	(71)	(10)
Recoveries	4		6	2
Provisions		47	68	62
Adoption of new accounting standard			436
Ending Balance	1,062	675	1,062	675
Ending Balance: Individually Evaluated		107		107
Ending Balance: Collectively Evaluated	1,062	568	1,062	568
Loans Receivable:
Balance	125,276		125,276
Allowance for Credit Losses
Beginning Balance			623
Loans Receivable:
Balance					$ 126,605
Less: Acquired Loans					33,166
Ending Balance: Individually Evaluated	693		693		298
Ending Balance: Collectively Evaluated	124,583		124,583		93,141
Real Estate Mortgages
Allowance for Credit Losses:
Beginning Balance	799	561	541	548
Charge-offs	(1)		(63)
Recoveries	1		1	1
Transfer	3	(10)	3	(13)
Provisions		47	68	62
Adoption of new accounting standard			252
Ending Balance	802	598	802	598
Ending Balance: Individually Evaluated		107		107
Ending Balance: Collectively Evaluated	802	491	802	491
Loans Receivable:
Balance	107,035		107,035
Loans Receivable:
Balance					107,479
Less: Acquired Loans					27,744
Ending Balance: Collectively Evaluated	107,035		107,035		79,735
Commercial
Allowance for Credit Losses:
Beginning Balance	157	55	55	55
Transfer	(7)	1	(10)	1
Adoption of new accounting standard			105
Ending Balance	150	56	150	56
Ending Balance: Collectively Evaluated	150	56	150	56
Loans Receivable:
Balance	10,948		10,948
Loans Receivable:
Balance					11,490
Less: Acquired Loans					3,843
Ending Balance: Individually Evaluated	693		693		298
Ending Balance: Collectively Evaluated	10,255		10,255		7,349
Commercial loans
Allowance for Credit Losses:
Beginning Balance	28	4	4	4
Transfer	4		1
Adoption of new accounting standard			27
Ending Balance	32	4	32	4
Ending Balance: Collectively Evaluated	32	4	32	4
Loans Receivable:
Balance	1,522		1,522
Loans Receivable:
Balance					1,501
Less: Acquired Loans					455
Ending Balance: Collectively Evaluated	1,522		1,522		1,046
Commercial Unsecured
Allowance for Credit Losses:
Beginning Balance		1	2
Transfer		(1)
Adoption of new accounting standard			(2)
Loans Receivable:
Balance	12		12
Loans Receivable:
Ending Balance: Collectively Evaluated	12		12
Consumer
Allowance for Credit Losses:
Beginning Balance	77	13	21	14
Charge-offs	(2)	(6)	(8)	(10)
Recoveries	3		5	1
Transfer		10	6	12
Adoption of new accounting standard			54
Ending Balance	78	17	78	17
Ending Balance: Collectively Evaluated	78	$ 17	78	$ 17
Loans Receivable:
Balance	5,759		5,759
Loans Receivable:
Balance					6,135
Less: Acquired Loans					1,124
Ending Balance: Collectively Evaluated	$ 5,759		$ 5,759		$ 5,011

LOANS RECEIVABLE AND ALLOWANC_7

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Performing and nonperforming (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Components of loans receivable
Total Loans	$ 125,276
Total Loans		$ 126,605
Total non-accrual loans		630
Real Estate Mortgages
Components of loans receivable
Total Loans	107,035
Total Loans		107,479
Total non-accrual loans		153
Real Estate Mortgages | Performing
Components of loans receivable
Total Loans	116,789
Total Loans		118,269
Real Estate Mortgages | Non performing
Components of loans receivable
Total Loans	1,194
Total Loans		700
Real Estate Mortgages | Total
Components of loans receivable
Total Loans	117,983
Total Loans		118,969
Commercial
Components of loans receivable
Total Loans	10,948
Total Loans		11,490
Total non-accrual loans		468
Construction
Components of loans receivable
Total Loans	2,455
Total Loans		2,265
Home equity loans and lines of credit
Components of loans receivable
Total Loans	1,624
Total Loans		2,963
Commercial loans
Components of loans receivable
Total Loans	1,522
Total Loans		1,501
Passbook
Components of loans receivable
Total Loans	410
Total Loans		267
Other consumer
Components of loans receivable
Total Loans	$ 2,446
Total Loans		$ 2,841

LOANS RECEIVABLE AND ALLOWANC_8

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Credit risk profile for acquired loans (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Components of loans receivable
Total Loans	$ 125,276
Total Loans		$ 126,605
Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	125,276
Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		93,439
Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		33,166
Pass | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	124,400
Pass | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		93,141
Pass | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		32,522
Special Mention | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	183
Special Mention | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		242
Substandard | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	693
Substandard | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		298
Substandard | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		402
Mortgage Loans on Real Estate
Components of loans receivable
Total Loans	107,035
Total Loans		107,479
Mortgage Loans on Real Estate | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	117,983
Mortgage Loans on Real Estate | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		87,382
Mortgage Loans on Real Estate | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		31,587
Mortgage Loans on Real Estate | Pass | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	117,131
Mortgage Loans on Real Estate | Pass | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		87,084
Mortgage Loans on Real Estate | Pass | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		30,975
Mortgage Loans on Real Estate | Special Mention | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	159
Mortgage Loans on Real Estate | Special Mention | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		210
Mortgage Loans on Real Estate | Substandard | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	693
Mortgage Loans on Real Estate | Substandard | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		298
Mortgage Loans on Real Estate | Substandard | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		402
Residential, One to Four Family | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	105,411
Residential, One to Four Family | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		77,183
Residential, One to Four Family | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		27,333
Residential, One to Four Family | Pass | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	105,411
Residential, One to Four Family | Pass | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		77,183
Residential, One to Four Family | Pass | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		27,333
Home equity loans and lines of credit
Components of loans receivable
Total Loans	1,624
Total Loans		2,963
Home equity loans and lines of credit | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	1,624
Home equity loans and lines of credit | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		2,552
Home equity loans and lines of credit | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		411
Home equity loans and lines of credit | Pass | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	1,624
Home equity loans and lines of credit | Pass | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		2,552
Home equity loans and lines of credit | Pass | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		411
Commercial
Components of loans receivable
Total Loans	10,948
Total Loans		11,490
Commercial | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	10,948
Commercial | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		7,647
Commercial | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		3,843
Commercial | Pass | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	10,096
Commercial | Pass | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		7,349
Commercial | Pass | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		3,231
Commercial | Special Mention | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	159
Commercial | Special Mention | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		210
Commercial | Substandard | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	693
Commercial | Substandard | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		298
Commercial | Substandard | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		402
Commercial Non-Mortgage
Components of loans receivable
Total Loans	1,534
Total Loans		1,501
Commercial Non-Mortgage | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	1,534
Commercial Non-Mortgage | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		1,046
Commercial Non-Mortgage | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		455
Commercial Non-Mortgage | Pass | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	1,510
Commercial Non-Mortgage | Pass | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		1,046
Commercial Non-Mortgage | Pass | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		423
Commercial Non-Mortgage | Special Mention | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	24
Commercial Non-Mortgage | Special Mention | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		32
Consumer
Components of loans receivable
Total Loans	5,759
Total Loans		6,135
Consumer | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	5,759
Consumer | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		5,011
Consumer | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		1,124
Consumer | Pass | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	$ 5,759
Consumer | Pass | Originated Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		5,011
Consumer | Pass | Acquired Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans		$ 1,124

LOANS RECEIVABLE AND ALLOWANC_9

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Aging Analysis (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Past due financing receivables
Total Financing Receivable	$ 125,276
Total Financing Receivable		$ 126,605
Financial Asset Loan
Past due financing receivables
Total Past Due	1,573
Current	123,703
Total Financing Receivable	125,276
Financial Asset Loan | 30 - 59 Days Past Due
Past due financing receivables
Total Past Due	1,076
Financial Asset Loan | 60 - 89 Days Past Due
Past due financing receivables
Total Past Due	219
Financial Asset Loan | 90 Days or Greater Past Due
Past due financing receivables
Total Past Due	278
Originated
Past due financing receivables
Total Past Due		1,114
Current		92,325
Total Financing Receivable		93,439
Originated | 30 - 59 Days Past Due
Past due financing receivables
Total Past Due		894
Originated | 60 - 89 Days Past Due
Past due financing receivables
Total Past Due		16
Originated | 90 Days or Greater Past Due
Past due financing receivables
Total Past Due		204
Acquired
Past due financing receivables
Total Past Due		95
Current		33,071
Total Financing Receivable		33,166
Acquired | 30 - 59 Days Past Due
Past due financing receivables
Total Past Due		33
Acquired | 90 Days or Greater Past Due
Past due financing receivables
Total Past Due		62
Mortgage Loans on Real Estate
Past due financing receivables
Total Past Due	107,035
Total Financing Receivable	107,035
Total Financing Receivable		107,479
Mortgage Loans on Real Estate | Financial Asset Loan
Past due financing receivables
Total Past Due	1,279
Current	105,756
Total Financing Receivable	107,035
Mortgage Loans on Real Estate | Financial Asset Loan | 30 - 59 Days Past Due
Past due financing receivables
Total Past Due	836
Mortgage Loans on Real Estate | Financial Asset Loan | 60 - 89 Days Past Due
Past due financing receivables
Total Past Due	204
Mortgage Loans on Real Estate | Financial Asset Loan | 90 Days or Greater Past Due
Past due financing receivables
Total Past Due	239
Mortgage Loans on Real Estate | Originated
Past due financing receivables
Total Past Due		953
Current		78,782
Total Financing Receivable		79,735
Mortgage Loans on Real Estate | Originated | 30 - 59 Days Past Due
Past due financing receivables
Total Past Due		810
Mortgage Loans on Real Estate | Originated | 60 - 89 Days Past Due
Past due financing receivables
Total Past Due		5
Mortgage Loans on Real Estate | Originated | 90 Days or Greater Past Due
Past due financing receivables
Total Past Due		138
Mortgage Loans on Real Estate | Acquired
Past due financing receivables
Total Past Due		95
Current		27,649
Total Financing Receivable		27,744
Mortgage Loans on Real Estate | Acquired | 30 - 59 Days Past Due
Past due financing receivables
Total Past Due		33
Mortgage Loans on Real Estate | Acquired | 90 Days or Greater Past Due
Past due financing receivables
Total Past Due		62
Commercial
Past due financing receivables
Total Past Due	10,948
Total Financing Receivable	10,948
Total Financing Receivable		11,490
Commercial | Financial Asset Loan
Past due financing receivables
Total Past Due	228
Current	10,720
Total Financing Receivable	10,948
Commercial | Financial Asset Loan | 30 - 59 Days Past Due
Past due financing receivables
Total Past Due	198
Commercial | Financial Asset Loan | 90 Days or Greater Past Due
Past due financing receivables
Total Past Due	30
Commercial | Originated
Past due financing receivables
Total Past Due		66
Current		7,581
Total Financing Receivable		7,647
Commercial | Originated | 90 Days or Greater Past Due
Past due financing receivables
Total Past Due		66
Commercial | Acquired
Past due financing receivables
Current		3,843
Total Financing Receivable		3,843
Commercial Non-Mortgage
Past due financing receivables
Total Financing Receivable	1,534
Total Financing Receivable		1,501
Commercial Non-Mortgage | Financial Asset Loan
Past due financing receivables
Current	1,534
Total Financing Receivable	1,534
Commercial Non-Mortgage | Originated
Past due financing receivables
Current		1,046
Total Financing Receivable		1,046
Commercial Non-Mortgage | Acquired
Past due financing receivables
Current		455
Total Financing Receivable		455
Consumer
Past due financing receivables
Total Past Due	5,759
Total Financing Receivable	5,759
Total Financing Receivable		6,135
Consumer | Financial Asset Loan
Past due financing receivables
Total Past Due	66
Current	5,693
Total Financing Receivable	5,759
Consumer | Financial Asset Loan | 30 - 59 Days Past Due
Past due financing receivables
Total Past Due	42
Consumer | Financial Asset Loan | 60 - 89 Days Past Due
Past due financing receivables
Total Past Due	15
Consumer | Financial Asset Loan | 90 Days or Greater Past Due
Past due financing receivables
Total Past Due	$ 9
Consumer | Originated
Past due financing receivables
Total Past Due		95
Current		4,916
Total Financing Receivable		5,011
Consumer | Originated | 30 - 59 Days Past Due
Past due financing receivables
Total Past Due		84
Consumer | Originated | 60 - 89 Days Past Due
Past due financing receivables
Total Past Due		11
Consumer | Acquired
Past due financing receivables
Current		1,124
Total Financing Receivable		$ 1,124

LOANS RECEIVABLE AND ALLOWAN_10

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Vintage Analysis (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Term Loans by Fiscal Year of Origination
Current period gross write-offs	$ 3	$ 6	$ 71	$ 10
Mortgage Loans on Real Estate
Term Loans by Fiscal Year of Origination
2024	4,220		4,220
2023	11,511		11,511
2022	15,446		15,446
2021	18,256		18,256
2020	9,402		9,402
Prior	46,576		46,576
Revolving	1,624		1,624
Total	107,035		107,035
Current period gross write-offs	1		63
Mortgage Loans on Real Estate | Pass
Term Loans by Fiscal Year of Origination
2024	4,220		4,220
2023	11,511		11,511
2022	15,446		15,446
2021	18,256		18,256
2020	9,402		9,402
Prior	46,576		46,576
Revolving	1,624		1,624
Total	107,035		107,035
Real Estate Commercial
Term Loans by Fiscal Year of Origination
2024	290		290
2023	2,641		2,641
2022	596		596
2021	2,556		2,556
2020	2,005		2,005
Prior	2,860		2,860
Total	10,948		10,948
Real Estate Commercial | Pass
Term Loans by Fiscal Year of Origination
2024	290		290
2023	2,212		2,212
2022	596		596
2021	2,359		2,359
2020	1,938		1,938
Prior	2,701		2,701
Total	10,096		10,096
Real Estate Commercial | Special Mention
Term Loans by Fiscal Year of Origination
Prior	159		159
Total	159		159
Real Estate Commercial | Substandard
Term Loans by Fiscal Year of Origination
2023	429		429
2021	197		197
2020	67		67
Total	693		693
Commercial - Secured
Term Loans by Fiscal Year of Origination
2024	219		219
2023	420		420
2022	100		100
2021	204		204
2020	303		303
Prior	276		276
Total	1,522		1,522
Commercial - Secured | Pass
Term Loans by Fiscal Year of Origination
2024	219		219
2023	420		420
2022	100		100
2021	204		204
2020	303		303
Prior	252		252
Total	1,498		1,498
Commercial - Secured | Special Mention
Term Loans by Fiscal Year of Origination
Prior	24		24
Total	24		24
Commercial - Unsecured
Term Loans by Fiscal Year of Origination
2024	1		1
Prior	11		11
Total	12		12
Commercial - Unsecured | Pass
Term Loans by Fiscal Year of Origination
2024	1		1
Prior	11		11
Total	12		12
Consumer
Term Loans by Fiscal Year of Origination
2024	1,044		1,044
2023	2,235		2,235
2022	1,212		1,212
2021	664		664
2020	309		309
Prior	295		295
Total	5,759		5,759
Current period gross write-offs	2	$ 6	8	$ 10
Consumer | Pass
Term Loans by Fiscal Year of Origination
2024	1,044		1,044
2023	2,235		2,235
2022	1,212		1,212
2021	664		664
2020	309		309
Prior	295		295
Total	$ 5,759		$ 5,759

LOANS RECEIVABLE AND ALLOWAN_11

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Nonaccrual Loans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
CECL
Nonaccrual loans with an Allowance	$ 1,155		$ 1,155
Total Nonaccrual Loans	1,155		1,155
Incurred Loss
Total non-accrual loans					$ 630
Interest income recognized until principal balance is collected	0	$ 0	0	$ 0
Real Estate Mortgages
CECL
Nonaccrual loans with an Allowance	651		651
Total Nonaccrual Loans	651		651
Incurred Loss
Total non-accrual loans					153
Commercial
CECL
Nonaccrual loans with an Allowance	465		465
Total Nonaccrual Loans	465		465
Incurred Loss
Total non-accrual loans					468
Commercial - Secured
CECL
Nonaccrual loans with an Allowance	30		30
Total Nonaccrual Loans	30		30
Consumer
CECL
Nonaccrual loans with an Allowance	9		9
Total Nonaccrual Loans	$ 9		$ 9
Incurred Loss
Total non-accrual loans					$ 9

LOANS RECEIVABLE AND ALLOWAN_12

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES - Accrued interest receivable written off (Details) $ in Thousands	6 Months Ended
	Mar. 31, 2024 USD ($)
Components of loans receivable
Accrued interest receivable written off by reversing interest income	$ 37
Real Estate Mortgages
Components of loans receivable
Accrued interest receivable written off by reversing interest income	18
Real Estate Commercial
Components of loans receivable
Accrued interest receivable written off by reversing interest income	18
Commercial - Secured
Components of loans receivable
Accrued interest receivable written off by reversing interest income	$ 1

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($)	6 Months Ended	12 Months Ended
	Mar. 31, 2024	Sep. 30, 2023	Sep. 16, 2022
Goodwill and Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 4,237,000	$ 4,237,000
Intangible Assets	$ 1,872,000	2,080,000
Estimated Useful Life	10 years
Impairment of Goodwill		0
Amortization expense	$ 208,000	$ 462,000
Citizens Bank of Cape Vincent
Goodwill and Finite-Lived Intangible Assets [Line Items]
Goodwill			$ 4,200,000
Intangible Assets			$ 2,500,000

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Schedule of Goodwill and Core Deposit Intangibles (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
GOODWILL AND INTANGIBLE ASSETS
Goodwill	$ 4,237	$ 4,237
Finite-Lived Intangible Assets
Core Deposit Intangibles, Gross	2,542	2,542
Accumulated Amortization	670	462
Core Deposit Intangibles, Net	1,872	2,080
Intangible Assets, Net (Including Goodwill)
Intangible Assets Gross Including Goodwill	6,779	6,779
Intangible Assets Net Including Goodwill	$ 6,109	$ 6,317

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Schedule of Estimated Aggregate Amortization Expense (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity
2024	$ 416
2025	370
2026	323
2027	277
2028	231
Total	$ 1,617

FINANCIAL INSTRUMENTS WITH OF_3

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK (Details)	Mar. 31, 2024 USD ($) LetterOfCredit	Sep. 30, 2023 USD ($) LetterOfCredit
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK
Number of stand by letters of credit | LetterOfCredit	4	4
Standby letters of credit	$ 176,000	$ 176,000
Commitments to Grant Loans
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK
Financial instrument commitments amount	929,000	1,089,000
Unfunded Commitments Under Lines of Credit
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK
Financial instrument commitments amount	$ 5,827,000	$ 6,022,000

FINANCIAL INSTRUMENTS WITH OF_4

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK - Unfunded Commitments (Details)	6 Months Ended
	Mar. 31, 2024 USD ($)
Unfunded Commitments
Provision for unfunded commitments	$ 2,000
Ending balance	31,000
ASU 2016-13 | As Reported Under ASC 326
Unfunded Commitments
Ending balance	$ 29,000

REGULATORY CAPITAL REQUIREMEN_3

REGULATORY CAPITAL REQUIREMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
REGULATORY CAPITAL REQUIREMENTS
Percentage of Capital Conservation Buffer	2.50%	2.50%
Total Capital (to Risk-Weighted Assets), Actual Amount	$ 26,191	$ 21,906
Total Capital (to Risk-Weighted Assets), Actual Ratio	0.237	0.194
Total Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Amount	$ 8,826	$ 9,020
Total Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Ratio	0.080	0.080
Total Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 11,033	$ 11,275
Total Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.100	0.100
Tier 1 Capital (to Risk-Weighted Assets), Actual Amount	$ 25,098	$ 21,283
Tier 1 Capital (to Risk-Weighted Assets), Actual Ratio	0.227	0.189
Tier 1 Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Amount	$ 6,620	$ 6,765
Tier 1 Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Ratio	0.060	0.060
Tier 1 Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 8,826	$ 9,019
Tier 1 Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.080	0.080
Tier 1 Common Equity (to Risk-Weighted Assets), Actual Amount	$ 25,098	$ 21,283
Tier 1 Common Equity (to Risk-Weighted Assets), Actual Ratio	0.227	0.189
Tier 1 Common Equity (to Risk-Weighted Assets), Minimum Capital Requirement, Amount	$ 4,965	$ 5,074
Tier 1 Common Equity (to Risk-Weighted Assets), Minimum Capital Requirement, Ratio	0.045	0.045
Tier 1 Common Equity (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 7,171	$ 7,329
Tier 1 Common Equity (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.065	0.065
Tier 1 Leverage Ratio (to Adjusted Total Assets), Actual Amount	$ 25,098	$ 21,283
Tier 1 Leverage Ratio (to Adjusted Total Assets), Actual Ratio	0.125	0.106
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum Capital Requirement, Amount	$ 8,024	$ 8,022
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum Capital Requirement, Ratio	0.040	0.040
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 10,031	$ 10,027
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.050	0.050
Capital Conservation Buffer on Tier 1 Common Equity, Actual Amount	$ 26,191	$ 21,906
Capital Conservation Buffer on Tier 1 Common Equity, Actual Ratio	0.157	0.114
Capital Conservation Buffer on Tier 1 Common Equity, Minimum Capital Requirement, Amount	$ 7,723	$ 7,892
Capital Conservation Buffer on Tier 1 Common Equity, Minimum Capital Requirement, Ratio	0.070	0.070
Muni Bank
REGULATORY CAPITAL REQUIREMENTS
Total Capital (to Risk-Weighted Assets), Actual Amount	$ 13,494	$ 13,053
Total Capital (to Risk-Weighted Assets), Actual Ratio	1.204	2.458
Total Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Amount	$ 896	$ 425
Total Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Ratio	0.080	0.080
Total Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 1,120	$ 531
Total Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.100	0.100
Tier 1 Capital (to Risk-Weighted Assets), Actual Amount	$ 13,494	$ 13,053
Tier 1 Capital (to Risk-Weighted Assets), Actual Ratio	1.204	2.458
Tier 1 Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Amount	$ 672	$ 319
Tier 1 Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Ratio	0.060	0.060
Tier 1 Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 896	$ 425
Tier 1 Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.080	0.080
Tier 1 Common Equity (to Risk-Weighted Assets), Actual Amount	$ 13,494	$ 13,053
Tier 1 Common Equity (to Risk-Weighted Assets), Actual Ratio	1.204	2.458
Tier 1 Common Equity (to Risk-Weighted Assets), Minimum Capital Requirement, Amount	$ 504	$ 239
Tier 1 Common Equity (to Risk-Weighted Assets), Minimum Capital Requirement, Ratio	0.045	0.045
Tier 1 Common Equity (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 728	$ 345
Tier 1 Common Equity (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.065	0.065
Tier 1 Leverage Ratio (to Adjusted Total Assets), Actual Amount	$ 13,494	$ 13,053
Tier 1 Leverage Ratio (to Adjusted Total Assets), Actual Ratio	0.398	0.374
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum Capital Requirement, Amount	$ 1,357	$ 1,394
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum Capital Requirement, Ratio	0.040	0.040
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 1,697	$ 1,743
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.050	0.050
Capital Conservation Buffer on Tier 1 Common Equity, Actual Amount	$ 13,494	$ 13,053
Capital Conservation Buffer on Tier 1 Common Equity, Actual Ratio	1.124	2.378
Capital Conservation Buffer on Tier 1 Common Equity, Minimum Capital Requirement, Amount	$ 784	$ 372
Capital Conservation Buffer on Tier 1 Common Equity, Minimum Capital Requirement, Ratio	0.070	0.070

RETAINED EARNINGS (Details)

RETAINED EARNINGS (Details)	Sep. 30, 2023 USD ($)
Cambray
RETAINED EARNINGS
Dividends payable waived	$ 6,384,000

INTEREST RATE DERIVATIVES (Deta

INTEREST RATE DERIVATIVES (Details)					3 Months Ended		6 Months Ended
	Dec. 29, 2023 USD ($) item	Feb. 14, 2023 USD ($) item security	Dec. 14, 2022 USD ($) security item	Dec. 09, 2022 USD ($) item	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)
Derivative [Line Items]
Amounts recognized in earnings as noninterest gain (loss)					$ (38,000)	$ (387,000)	$ (181,000)	$ (823,000)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]							Noninterest Expense, Noninterest Income	Noninterest Expense, Noninterest Income
Realized gain on swap unwound						$ 310,000	$ 75,000	$ 654,000
Interest Rate Swap
Derivative [Line Items]
Number of off-balance sheet swaps unwounded | item	2	2		2
Notional Amount	$ 2,500,000	$ 5,000,000		$ 6,000,000
Realized gain on swap unwound	$ 75,000	$ 310,000		$ 343,000
Number of investments sold | item		10	4
Total value of derivative assets		$ 3,650,000	$ 2,000,000
Gain (loss) on investments		318,000	342,000
Amount of derivative assets reinvested		$ 3,090,000	$ 2,000,000
Number of new securities | security		3	2

INTEREST RATE DERIVATIVES - Int

INTEREST RATE DERIVATIVES - Interest Rate Swap Agreements (Details) - Interest Rate Swap - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Mar. 31, 2024	Sep. 30, 2023	Dec. 29, 2023	Feb. 14, 2023	Dec. 09, 2022
Derivative [Line Items]
Notional Amount			$ 2,500	$ 5,000	$ 6,000
FHLB Borrowings and Bank Deposits | Designated as hedging Instrument | Fair Value Hedge
Derivative [Line Items]
Notional Amount	$ 3,000	$ 5,500
Weighted Average Rate Contract Pay Rate	1.56%	2.04%
Weighted Average Rate Received Rate	5.60%	5.35%
Estimated Fair Value (Liability) Asset	$ 68	$ 250

INTEREST RATE DERIVATIVES - Fai

INTEREST RATE DERIVATIVES - Fair Value of Outstanding Derivatives (Details) - Interest Rate Swap - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023	Feb. 14, 2023	Dec. 14, 2022
Derivative [Line Items]
Accrued Interest Receivable and Other Assets			$ 3,650	$ 2,000
Designated as hedging Instrument | Fair Value Hedge
Derivative [Line Items]
Accrued Interest Receivable and Other Assets	$ 68	$ 250
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Interest Receivable and Other Assets	Interest Receivable and Other Assets

INTEREST RATE DERIVATIVES - Mat

INTEREST RATE DERIVATIVES - Maturity of Outstanding Derivatives (Details) - Interest Rate Swap - Designated as hedging Instrument - Fair Value Hedge - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Derivative [Line Items]
2025	$ 3,000	$ 4,500
2026		1,000
Total	$ 3,000	$ 5,500

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial assets and liabilities on recurring basis (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
FAIR VALUE MEASUREMENTS
Available for sale debt securities	$ 47,902
Available for sale debt securities		$ 46,624
U.S. Government Treasuries
FAIR VALUE MEASUREMENTS
Available for sale debt securities	2,266
Available for sale debt securities		3,680
U.S. Government Agencies
FAIR VALUE MEASUREMENTS
Available for sale debt securities	11,525
Available for sale debt securities		11,662
Mortgaged-Backed Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	8,587
Available for sale debt securities		7,915
Municipal Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	23,386
Available for sale debt securities		20,995
SBA Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	2,138
Available for sale debt securities		2,372
Recurring
FAIR VALUE MEASUREMENTS
Available for sale debt securities	47,902
Available for sale debt securities		46,624
Interest Rate Swap Derivative	68	250
Recurring | U.S. Government Treasuries
FAIR VALUE MEASUREMENTS
Available for sale debt securities	2,266
Available for sale debt securities		3,680
Recurring | U.S. Government Agencies
FAIR VALUE MEASUREMENTS
Available for sale debt securities	11,525
Available for sale debt securities		11,662
Recurring | Mortgaged-Backed Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	8,587
Available for sale debt securities		7,915
Recurring | Municipal Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	23,386
Available for sale debt securities		20,995
Recurring | SBA Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	2,138
Available for sale debt securities		2,372
Recurring | Significant Other Observable Inputs (Level 2)
FAIR VALUE MEASUREMENTS
Available for sale debt securities	47,902
Available for sale debt securities		46,624
Interest Rate Swap Derivative	68	250
Recurring | Significant Other Observable Inputs (Level 2) | U.S. Government Treasuries
FAIR VALUE MEASUREMENTS
Available for sale debt securities	2,266
Available for sale debt securities		3,680
Recurring | Significant Other Observable Inputs (Level 2) | U.S. Government Agencies
FAIR VALUE MEASUREMENTS
Available for sale debt securities	11,525
Available for sale debt securities		11,662
Recurring | Significant Other Observable Inputs (Level 2) | Mortgaged-Backed Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	8,587
Available for sale debt securities		7,915
Recurring | Significant Other Observable Inputs (Level 2) | Municipal Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	23,386
Available for sale debt securities		20,995
Recurring | Significant Other Observable Inputs (Level 2) | SBA Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	$ 2,138
Available for sale debt securities		$ 2,372

FAIR VALUE MEASUREMENTS - Fin_2

FAIR VALUE MEASUREMENTS - Financial assets and liabilities on nonrecurring basis (Details) - Nonrecurring - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
FAIR VALUE MEASUREMENTS
Foreclosed Real Estate, Net	$ 39	$ 101
Significant Unobservable Inputs (Level 3)
FAIR VALUE MEASUREMENTS
Foreclosed Real Estate, Net	$ 39	$ 101

FAIR VALUE MEASUREMENTS - Quant

FAIR VALUE MEASUREMENTS - Quantitative Information (Details) - Nonrecurring - Significant Unobservable Inputs (Level 3)	Mar. 31, 2024	Sep. 30, 2023
Appraisal of Collateral | Appraisal Adjustments | Minimum
FAIR VALUE MEASUREMENTS
Individually Evaluated Loans	25	25
Foreclosed Assets	0.25	0.25
Appraisal of Collateral | Appraisal Adjustments | Maximum
FAIR VALUE MEASUREMENTS
Individually Evaluated Loans	0.25	0.25
Foreclosed Assets	0.25	0.25
Appraisal of Collateral | Appraisal Adjustments | Weighted average
FAIR VALUE MEASUREMENTS
Individually Evaluated Loans	(0.25)	(0.25)
Foreclosed Assets	(0.25)	(0.25)
Sales approach | Costs to Sell | Minimum
FAIR VALUE MEASUREMENTS
Individually Evaluated Loans	0.06	0.06
Foreclosed Assets	0.06	0.06
Sales approach | Costs to Sell | Maximum
FAIR VALUE MEASUREMENTS
Individually Evaluated Loans	0.10	0.10
Foreclosed Assets	0.10	0.10
Sales approach | Costs to Sell | Weighted average
FAIR VALUE MEASUREMENTS
Individually Evaluated Loans	(0.08)	(0.08)
Foreclosed Assets	(0.08)	(0.08)

FAIR VALUE MEASUREMENTS - Estim

FAIR VALUE MEASUREMENTS - Estimated fair values of financial instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
FAIR VALUE MEASUREMENTS
Cash and due from banks	$ 8,357	$ 9,306
Interest bearing deposits with banks	1,756	1,101
Time deposits in other financial institutions	30,321	24,531
Available for sale debt securities		46,624
Carrying Value
FAIR VALUE MEASUREMENTS
Cash and due from banks	8,357	9,306
Interest bearing deposits with banks	1,756	1,101
Time deposits in other financial institutions	245	484
Available for sale debt securities	47,902	46,624
Acquired loans	29,614	32,174
Portfolio loans, net of deferred fees	94,108	93,253
Investment in restricted stock	1,045	1,471
Accrued interest receivable	679	630
Interest rate swap derivative	68	250
Financial Liabilities
Deposits	162,767	158,778
Accrued interest payable	13	67
Fair Value
FAIR VALUE MEASUREMENTS
Cash and due from banks	8,357	9,306
Interest bearing deposits with banks	1,756	1,101
Time deposits in other financial institutions	245	484
Available for sale debt securities	47,902	46,624
Acquired loans	29,614	32,174
Portfolio loans, net of deferred fees	78,137	69,608
Investment in restricted stock	1,045	1,471
Accrued interest receivable	679	630
Interest rate swap derivative	68	250
Financial Liabilities
Deposits	121,591	119,212
Accrued interest payable	$ 13	$ 67

LEASES - Narrative (Details)

LEASES - Narrative (Details)	3 Months Ended	6 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2024 USD ($)
LEASES
Option to extend		true
Net lease cost	$ 6,000	$ 11,000
Branch office
LEASES
Renewal term (in years)	3 years	3 years
Lease expense		$ 8,000
Equipment
LEASES
Lease expense		$ 3,000

LEASES - Future minimum payment

LEASES - Future minimum payments for operating leases (Details)	Mar. 31, 2024 USD ($)
LEASES
2024	$ 11,000
2025	21,000
2026	14,000
2027	13,000
2028	13,000
Total	$ 72,000

LEASES - Information about the

LEASES - Information about the Company's leases (Details)	3 Months Ended	6 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2024 USD ($)
LEASES
Operating lease right of use assets	$ 55,000	$ 55,000
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Interest Receivable and Other Assets	Interest Receivable and Other Assets
Operating lease liability	$ 55,000	$ 55,000
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities and Other Liabilities	Accrued Liabilities and Other Liabilities
Weighted average remaining lease term, in years:	4 years 1 month 2 days	4 years 1 month 2 days
Operating lease expense:	$ 6,000	$ 11,000
Total lease expense:	6,000	11,000
Cash paid for amounts included in measurement of lease liabilities:	$ 6,000	$ 11,000

PARENT COMPANY FINANCIAL INFO_3

PARENT COMPANY FINANCIAL INFORMATION - Financial Condition (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022
Assets:
Cash and due from banks	$ 8,357		$ 9,306
Interest bearing deposits with banks	1,756		1,101
Total cash and cash equivalents	10,113		10,407
Accrued interest receivable and other assets	4,520		4,997
Total Assets	203,705		205,885
Liabilities:
Accrued interest payable and other liabilities	3,661		7,566
Total liabilities	171,970		180,777
Shareholders' Equity:
Preferred stock, $.01 par value: March 31, 2024: 25,000,000 shares authorized; none issued September 30, 2023: 1,000,000 shares authorized; none issued
Common stock, $.01 par value: March 31, 2024: 75,000,000 shares authorized; 1,107,134 shares issued September 30, 2023: 9,000,000 shares authorized; 2,031,377 shares issued	11		24
Additional paid-in capital	6,487		5,035
Retained earnings	28,094		28,242
Treasury Stock, at cost, (shares March 31, 2024: 0: September 30, 2023: 352,231)			4,070
Accumulated other comprehensive loss	(2,317)		(4,123)
Unearned common stock held by employee stock ownership plan	(540)
Total shareholders' equity	31,735	$ 32,059	25,108	$ 26,339	$ 25,944	$ 24,829
Total liabilities and shareholders' equity	203,705		205,885
Parent Company [Member]
Assets:
Cash and due from banks	2,431		19
Interest bearing deposits with banks	153		4,575
Total cash and cash equivalents	2,584		4,594
ESOP loan receivable	522
Accrued interest receivable and other assets	115		11
Investment in subsidiary	29,246		23,865
Total Assets	32,467		28,470
Liabilities:
Accrued interest payable and other liabilities	732		3,362
Total liabilities	732		3,362
Shareholders' Equity:
Common stock, $.01 par value: March 31, 2024: 75,000,000 shares authorized; 1,107,134 shares issued September 30, 2023: 9,000,000 shares authorized; 2,031,377 shares issued	11		24
Additional paid-in capital	6,487		5,035
Retained earnings	28,094		28,242
Treasury Stock, at cost, (shares March 31, 2024: 0: September 30, 2023: 352,231)			4,070
Accumulated other comprehensive loss	(2,317)		(4,123)
Unearned common stock held by employee stock ownership plan	(540)
Total shareholders' equity	31,735		25,108
Total liabilities and shareholders' equity	$ 32,467		$ 28,470

PARENT COMPANY FINANCIAL INFO_4

PARENT COMPANY FINANCIAL INFORMATION - Financial Condition Parenthetical (Details) - $ / shares	Mar. 31, 2024	Sep. 30, 2023
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	75,000,000	9,000,000
Common stock, shares issued	1,107,134	2,031,377
Treasury stock, shares	0	352,231
Parent Company [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	75,000,000	9,000,000
Common stock, shares issued	1,107,134	2,031,377
Treasury stock, shares	0	352,231

PARENT COMPANY FINANCIAL INFO_5

PARENT COMPANY FINANCIAL INFORMATION - Earnings (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Interest Income:
Loans receivable, including fees	$ 1,630	$ 1,487	$ 3,231	$ 2,969
Total interest income	2,145	2,018	4,273	4,032
Net Interest Income	1,808	1,949	3,612	3,933
Non-interest Income:
Earnings (loss) on deferred fees plan	33	14	45	41
Total Non-interest Income	196	(181)	343	(371)
Non-interest Expenses:
Directors' fees	90	72	176	143
Earnings (losses) on deferred fees plan	33	14	45	41
Professional fees	192	120	341	226
Other non-interest expenses	190	213	383	442
Total non-interest expenses	1,919	1,840	3,699	3,608
Income (loss) before income tax benefit	85	(119)	186	(108)
Income Tax Expense	(17)	(72)	(34)	(108)
Net Income (Loss)	$ 102	$ (47)	$ 220
Earnings per common share - basic	$ 0.10	$ (0.02)	$ 0.21
Earnings per common share - diluted	$ 0.10	$ (0.02)	$ 0.21
Parent Company [Member]
Interest Income:
Loans receivable, including fees			$ 8
Total interest income			8
Net Interest Income			8
Non-interest Income:
Dividend Income				203
Earnings (loss) on deferred fees plan	$ 17		11
Earnings from subsidiaries	206	$ (13)	385	46
Total Non-interest Income	223	(13)	396	249
Non-interest Expenses:
Directors' fees	22		36
Earnings (losses) on deferred fees plan	17		11
Professional fees	29	7	63	7
Other non-interest expenses	53	27	74	38
Total non-interest expenses	121	34	184	45
Income (loss) before income tax benefit	102	(47)	220	204
Net Income (Loss)	$ 102	$ (47)	$ 220	$ 204
Earnings per common share - basic	$ 0.10	$ (0.02)	$ 0.21

PARENT COMPANY FINANCIAL INFO_6

PARENT COMPANY FINANCIAL INFORMATION - Cash Flow (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net Income	$ 220
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
ESOP committed to be released	37
Net cash (used in) provided by operating activities	(3,552)	$ 644
Cash flows from investing activities:
Net decrease in loans receivable	(1,257)	(546)
Net cash provided by investing activities	3,228	2,029
Cash flows from financing activities:
Net stock offering proceeds	4,932
Cash dividends paid to common stock shareholders		(204)
Net Cash Provided by Financing Activities	30	(9,288)
Net decrease in cash and cash equivalents	(294)	(6,615)
Cash and cash equivalents - Beginning of Period	10,407	14,344
Cash and cash equivalents - End of Period	10,113	7,729
Parent Company [Member]
Cash flows from operating activities:
Net Income	220	204
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Equity in undistributed net earnings of subsidiaries	(385)	(46)
ESOP committed to be released	37
Change in other Assets	(3,662)	245
Change in other Liabilities	(2,630)	(252)
Net cash (used in) provided by operating activities	(6,420)	151
Cash flows from investing activities:
ESOP loan issued	(578)
Net decrease in loans receivable	56
Net cash provided by investing activities	(522)
Cash flows from financing activities:
Net stock offering proceeds	4,932
Cash dividends paid to common stock shareholders		(204)
Net Cash Provided by Financing Activities	4,932	(204)
Net decrease in cash and cash equivalents	(2,010)	(53)
Cash and cash equivalents - Beginning of Period	4,594	107
Cash and cash equivalents - End of Period	$ 2,584	$ 54

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ 102	$ (47)	$ 220

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Mar. 31, 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