Gouverneur Bancorp (GOVB) 10-Q 14 Feb 25 2025 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2024	Feb. 13, 2025
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 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		1,105,467
Entity Central Index Key	0001978811
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Assets:
Cash and due from banks	$ 3,532	$ 4,302
Interest-bearing deposits in bank	3,481	2,068
Total cash and cash equivalents	7,013	6,370
Securities available-for-sale, at fair value	43,534	45,348
Loans receivable, net of allowance for credit losses: December 31, 2024: $1,059 and September 30, 2024: $1,063 and net of discount at December 31, 2024: $798 and September 30, 2024: $832 and deferred loan fees of $440 at December 31, 2024 and $437 at September 30, 2024	124,927	124,257
Investments in restricted stock, at cost	821	823
Bank owned life insurance	7,178	7,137
Premises and equipment, net	2,933	2,924
Foreclosed real estate, net	0	0
Core deposit intangible, net	1,571	1,664
Goodwill	4,237	4,237
Accrued interest receivable and other assets	4,562	4,500
Total assets	196,776	197,260
Deposits:
Non-interest-bearing demand	16,133	17,515
NOW and money market	46,975	48,167
Savings and club	58,603	57,940
Time certificates	37,961	36,280
Total deposits	159,672	159,902
Advanced payments from borrowers for taxes and insurance	1,347	483
Accrued interest payable and other liabilities	4,014	4,110
Total liabilities	165,033	164,495
Shareholders' Equity:
Preferred stock, $.01 par value: December 31, 2024 and September 30, 2024: 25,000,000 shares authorized; none issued and outstanding
Common stock, $.01 par value: December 31, 2024 and September 30, 2024: 75,000,000 shares authorized; December 31, 2024: 1,107,134 issued and 1,106,790 outstanding and September 30, 2024: 1,107,134 issued and outstanding	11	11
Additional paid-in capital	6,490	6,487
Unearned common stock held by employee stock ownership plan (unallocated shares December 31, 2024: 50,133: September 30, 2024: 53,989)	(501)	(540)
Retained earnings	28,484	28,413
Accumulated other comprehensive loss	(2,737)	(1,606)
Authorized but unissued stock, at cost, (shares December 31, 2024: 344: September 30, 2024: 0)	(4)
Total shareholders' equity	31,743	32,765
Total liabilities and shareholders' equity	$ 196,776	$ 197,260

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
Allowance for credit losses	$ 1,059	$ 1,063
Net of discount	798	832
Deferred loan fees	$ 440	$ 437
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	1,107,134	1,107,134
Common stock, shares outstanding	1,106,790	1,107,134
Unallocated shares	50,133	53,989
Authorized unissued stock	344	0

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Interest income:
Loans, net	$ 1,692,000	$ 1,601,000
Securities-taxable	305,000	357,000
Securities-non-taxable	128,000	146,000
Other short-term investments	41,000	24,000
Total interest income	2,166,000	2,128,000
Interest expense:
Deposits	411,000	243,000
Net swap income on deposit hedge	(10,000)
Borrowings - short term and long term		131,000
Net swap income on borrowing hedge		(50,000)
Total interest expense	401,000	324,000
Net interest income	1,765,000	1,804,000
Provision for credit losses - Loans	15,000	68,000
Provision for credit losses - Unfunded commitments		2,000
Net interest income after provision for credit losses	1,750,000	1,734,000
Non-interest income:
Service charges	83,000	87,000
ATM card fees	66,000	64,000
Realized gain on swaps unwound		75,000
Earnings on investment in life insurance	41,000	38,000
Earnings (losses) on deferred fees plan	(6,000)	12,000
Unrealized loss on swap agreements	(9,000)	(143,000)
Earnings on secondary market programs	15,000	10,000
Other non-interest income	54,000	4,000
Total non-interest income, net	244,000	147,000
Non-interest expenses:
Salaries and employee benefits	873,000	863,000
Directors fees	96,000	86,000
Earnings (losses) on deferred fees plan	(6,000)	12,000
Building, occupancy and equipment	224,000	238,000
Data processing	107,000	106,000
Postage and supplies	22,000	24,000
Professional fees	156,000	150,000
Intangibles amortization	93,000	104,000
Foreclosed assets, net	1,000	4,000
Other non-interest expense	269,000	193,000
Total non-interest expenses, net	1,835,000	1,780,000
Income before income tax benefit	159,000	101,000
Income tax benefit	(1,000)	(17,000)
Net income	$ 160,000	$ 118,000
Earnings per common share - basic	$ 0.15	$ 0.11
Earnings per common share - diluted	$ 0.15	$ 0.11

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net Income	$ 160	$ 118
Unrealized gain (loss) on securities:
Unrealized holding gain (loss) arising during period	(1,424)	2,766
Deferred tax expense (benefit)	(299)	581
Unrealized holding gain (loss), net of deferred taxes	(1,125)	2,185
Post-retirement benefit (expense)	(8)	59
Deferred tax expense (benefit)	(2)	12
Post-retirement benefit (expense), net of deferred taxes	(6)	47
Total other comprehensive income (loss)	(1,131)	2,232
Total comprehensive income (loss)	$ (971)	$ 2,350

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	Authorized but Unissued Stock	Accumulated Other Comprehensive Income (Loss)	Adoption of ASU 2016-13 Current Expected Credit Losses	Total
Beginning balance at Sep. 30, 2023	$ 24	$ 5,035			$ 28,242	$ (4,070)	$ (4,123)		$ 25,108
Comprehensive Income (Loss):
Net income					118				118
Net pension and postretirement benefit, net of taxes							47		47
Change in unrealized losses on securities available-for-sale, net of reclassification adjustment and tax effects							2,185		2,185
Total comprehensive income (loss)									2,350
Net proceeds from stock offering and holding company conversion (1,107,134 shares)		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 Dec. 31, 2023	11	6,487	(540)	$ (368)	27,992		(1,891)	$ (368)	32,059
Beginning balance at Sep. 30, 2024	11	6,487	(540)		28,413		(1,606)		32,765
Comprehensive Income (Loss):
Net income					160				160
Net pension and postretirement benefit, net of taxes							(6)		(6)
Change in unrealized losses on securities available-for-sale, net of reclassification adjustment and tax effects							(1,125)		(1,125)
Total comprehensive income (loss)									(971)
Repurchase of Authorized Stock (344 shares)						(4)			(4)
ESOP shares committed to be released (3,856 shares)		3	39						42
Cash dividends declared, $0.08 per share					(89)				(89)
Ending balance at Dec. 31, 2024	$ 11	$ 6,490	$ (501)		$ 28,484	$ (4)	$ (2,737)		$ 31,743

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
Repurchase of Authorized Stock	344
Net proceeds from stock offering and holding company conversion		1,107,134
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	3,856
Cash dividends declared, per share	$ 0.08

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net Income	$ 160	$ 118
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Provision for credit losses	15	70
Net amortization of deferred fees on loans	19	18
Net amortization of securities premiums and discounts	(139)	(167)
Depreciation	56	64
Net amortization of core deposits intangible	93	104
ESOP shares committed to be released	42	37
Earnings on investment in bank owned life insurance	(41)	(38)
(Increase) decrease in accrued interest receivable and other assets	239	(485)
Decrease in accrued interest payable and other liabilities	(104)	(3,238)
Net cash provided by (used in) operating activities	340	(3,517)
Securities available for sale:
Proceeds from maturities and principal reductions of securities (AFS)	958	959
Purchases of securities (AFS)	(429)	(811)
Redemptions of FHLB stock	2	321
Net (increase) decrease in loans receivable	(704)	387
Additions to premises and equipment	(65)	(7)
Net cash (used in) provided by investing activities	(238)	849
Cash flows from financing activities:
Net increase (decrease) in deposits	(230)	1,549
Net decrease in short-term borrowings		(6,990)
Advance payments by borrowers for property taxes and insurance, net	864	849
Net stock offering proceeds		4,932
Purchase of treasury stock	(4)
Cash dividends paid to common stock shareholders	(89)
Net cash provided by financing activities	541	340
Net increase (decrease) in cash and cash equivalents	643	(2,328)
Cash and cash equivalents - Beginning of Period	6,370	10,407
Cash and cash equivalents - End of Period	7,013	8,079
Supplemental disclosures:
Cash paid during the year for interest	$ 382	348
Write-downs on foreclosed assets through the allowance for credit losses on loans		$ (27)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Dec. 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 December 31, 2024 (unaudited) and September 30, 2024 and for the three-month periods ended December 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. Gouverneur Bancorp, Inc. 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”), a commercial bank headquartered in Cape Vincent, New York. 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 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. 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 periods ended December 31, 2024 and 2023. The results of operations for the three-month periods ended December 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, 2024 was derived from the Company’s audited consolidated financial statements as of and for the year ended September 30, 2024. 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, 2024, including the notes thereto. Certain amounts for the three-month periods ended December 31, 2023 were reclassified to conform to the presentation of December 31, 2024.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Dec. 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 December 31, 2024, GS&L Municipal Bank held $23.5 million of the Bank’s $43.5 million investment securities portfolio and $21.0 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 credit losses. In connection with the determination of the estimated credit 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, 2024 and are contained in the Company’s Annual Report on Form 10-K for the year ended September 30, 2024. There have been no significant changes to the application of significant accounting policies since September 30, 2024. 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 December 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 $200,000 and $246,000 at December 31, 2024 and September 30, 2024, respectively, 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 $391,000 and $356,000 at December 31, 2024 and September 30, 2024, respectively, and was reported in accrued interest receivable on the consolidated statements of financial condition. 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 ASC 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 ASC 606. Service charges on deposits, ATM, and interchange fees ​ Gains and losses on sales of foreclosed assets –

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	3 Months Ended
	Dec. 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-month periods ended December 30, 2024 and 2023 (In thousands, except per share data) (unaudited). ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ December 31, Basic earnings per share: 2024 2023 Net income ​ $ 160 ​ $ 118 Weighted average common shares outstanding used to calculate ​ ​ ​ ​ ​ ​ basic and diluted earnings per common share ​ 1,054 ​ 1,050 Basic and diluted earnings per common share ​ $ 0.15 ​ $ 0.11 ​ There were no dilutive or antidilutive shares at December 31, 2024 or 2023.

COMPREHENSIVE INCOME (LOSS)

COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Dec. 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 on the accompanying consolidated statements of financial condition at December 31, 2024 (unaudited) and September 30, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ 2024 ​ 2024 ​ (In thousands) Accumulated Other Comprehensive Loss by Component ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized Loss on Available-for-Sale Securities, net ​ (3,212) ​ (1,788) Tax Effect 674 ​ 375 Net Unrealized Loss on Available-for-Sale Securities (2,538) ​ (1,413) ​ ​ ​ ​ ​ ​ Unrealized Loss for Other Postretirement Obligations $ (253) $ (245) Tax Effect 54 ​ 52 Net Unrealized Loss for Other Postretirement Obligations ​ (199) ​ ​ (193) ​ ​ ​ ​ ​ ​ Total Accumulated Other Comprehensive Loss $ (2,737) ​ $ (1,606) ​

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
	Dec. 31, 2024
INVESTMENT SECURITIES
INVESTMENT SECURITIES	NOTE 5: INVESTMENT SECURITIES The amortized cost of debt securities and their approximate fair value at December 31, 2024 (unaudited) is represented in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ ​ Cost ​ Gains ​ Losses ​ Value AVAILABLE FOR SALE ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 2,363 ​ $ — ​ $ (28) ​ $ 2,335 U.S. Government Agencies ​ 8,036 ​ — ​ (114) ​ 7,922 Mortgaged-Backed Securities ​ 11,432 ​ 1 ​ (705) ​ 10,728 Municipal Securities ​ 22,995 ​ 15 ​ (2,364) ​ 20,646 SBA Securities ​ 1,920 ​ 4 ​ (21) ​ 1,903 ​ ​ $ 46,746 ​ $ 20 ​ $ (3,232) ​ $ 43,534 ​ The amortized cost of debt securities and their approximate fair value at September 30, 2024 is represented in the table below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ ​ Cost ​ Gains ​ Losses ​ Value AVAILABLE FOR SALE ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 2,346 ​ $ 3 ​ $ — ​ $ 2,349 U.S. Government Agencies ​ 8,479 ​ 57 ​ (1) ​ 8,535 Mortgaged-Backed Securities ​ 11,337 ​ 74 ​ (240) ​ 11,171 Municipal Securities ​ 22,974 ​ 158 ​ (1,847) ​ 21,285 SBA Securities ​ 2,000 ​ 19 ​ (11) ​ 2,008 ​ ​ $ 47,136 ​ $ 311 ​ $ (2,099) ​ $ 45,348 ​ The amortized cost and fair value of debt securities, by contractual maturity, at December 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 $ 4,011 $ 4,005 Due After One Year Through Five Years ​ 9,588 ​ 9,539 Due After Five Years Through Ten Years ​ 6,724 ​ 6,330 Due After Ten Years ​ 13,071 ​ 11,029 ​ ​ 33,394 ​ 30,903 Mortgage-Backed & SBA Securities with no set maturity ​ 13,352 ​ 12,631 ​ ​ $ 46,746 ​ $ 43,534 ​ The amortized cost and fair value of debt securities, by contractual maturity, at September 30, 2024 is as shown below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt Securities ​ ​ Available-for-Sale ​ ​ Amortized ​ ​ ​ ​ ​ Cost ​ Fair Value ​ ​ (In Thousands) Due Within One Year $ 2,381 $ 2,382 Due After One Year Through Five Years ​ 11,180 ​ 11,265 Due After Five Years Through Ten Years ​ 6,640 ​ 6,487 Due After Ten Years ​ 13,598 ​ 12,035 ​ ​ 33,799 ​ 32,169 Mortgage-Backed & SBA Securities with no set maturity ​ 13,337 ​ 13,179 ​ ​ $ 47,136 ​ $ 45,348 ​ There were no realized gains and losses from the sale of available-for-sale investments for the three-month periods ending December 31, 2024 and 2023. ​ ​ Information pertaining to securities with gross unrealized losses at December 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) December 31, 2024 ​ ​ ​ ​ ​ Securities Available-for-Sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US Government Treasuries & Agencies ​ $ 142 ​ $ 9,760 ​ $ — ​ $ — ​ $ 142 ​ $ 9,760 Mortgage-backed & SBA Securities ​ ​ 373 ​ ​ 9,761 ​ ​ 353 ​ ​ 2,391 ​ 726 ​ 12,152 Municipal Securities ​ ​ 97 ​ ​ 6,905 ​ ​ 2,267 ​ ​ 8,670 ​ 2,364 ​ 15,575 ​ ​ $ 612 ​ $ 26,426 ​ $ 2,620 ​ $ 11,061 ​ $ 3,232 ​ $ 37,487 ​ Information pertaining to securities with gross unrealized losses at September 30, 2024 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, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities Available-for-Sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US Government Treasuries & Agencies ​ $ — ​ $ — ​ $ 1 ​ $ 990 ​ $ 1 ​ $ 990 Mortgage-backed & SBA Securities ​ ​ 11 ​ ​ 1,335 ​ ​ 240 ​ ​ 2,570 ​ 251 ​ 3,905 Municipal Securities ​ ​ 12 ​ ​ 763 ​ ​ 1,835 ​ ​ 8,842 ​ 1,847 ​ 9,605 ​ ​ $ 23 ​ $ 2,098 ​ $ 2,076 ​ $ 12,402 ​ $ 2,099 ​ $ 14,500 ​ In management’s opinion, the unrealized losses primarily reflect changes in interest rates subsequent to the acquisition of specific securities. The Company had 78 and 9 securities in an unrealized loss position of less than twelve months at December 31, 2024 and September 30, 2024, respectively, and 66 and 69 securities in an unrealized loss position of 12 months or more at December 31, 2024 and September 30, 2024, respectively. The Company has the intent and the ability to hold such securities until maturity or market price recovery. Management believes that the unrealized losses do not represent credit impairment of the securities.

LOANS RECEIVABLE AND ALLOWANCE

LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES	3 Months Ended
	Dec. 31, 2024
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES	NOTE 6: LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES The components of loans receivable, net, at December 31, 2024 (unaudited) and September 30, 2024 are as shown in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ As of September 30, ​ ​ 2024 ​ 2024 ​ ​ (unaudited) ​ ​ ​ ​ ​ Total Loans ​ ​ (In Thousands) Real Estate Mortgages ​ ​ ​ ​ Residential ​ $ 103,881 ​ $ 103,521 Commercial ​ 11,267 ​ 11,239 Construction ​ 2,548 ​ 1,945 Home Equity ​ 1,628 ​ 1,643 Other Loans: ​ ​ Commercial Non-Mortgage ​ 1,782 ​ 1,843 Automobile ​ 2,480 ​ 2,528 Passbook ​ 386 ​ 437 Consumer ​ 2,372 ​ 2,559 Total Loans ​ 126,344 ​ 125,715 Net Deferred Loan Costs ​ 440 ​ 437 Net Discounts on Acquired Loans ​ (798) ​ (832) Allowance for Credit Losses ​ (1,059) ​ (1,063) Loans Receivable, Net ​ $ 124,927 ​ $ 124,257 ​ 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 December 31, 2024 (unaudited) and September 30, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ September 30, 2024 ​ ​ (unaudited) ​ ​ ​ ​ ​ (in thousands) Acquired Credit Impaired Loans ​ ​ Outstanding Principal Balance ​ $ — ​ $ — Carrying Amount ​ $ — ​ $ — Acquired Non-Credit Impaired Loans ​ ​ Outstanding Principal Balance ​ $ 28,335 ​ $ 28,996 Carrying Amount ​ $ 27,537 ​ $ 28,164 Total Acquired Loans ​ ​ Outstanding Principal Balance ​ $ 28,335 ​ $ 28,996 Carrying Amount ​ $ 27,537 ​ $ 28,164 ​ The Company had not acquired any loans with deteriorated credit quality as of December 31, 2024 and September 30, 2024. The Company did acquire a commercial secured performing loan which has been classified as substandard to ensure proper oversight and monitoring of the loan. The loan has performed in accordance with its modified terms for over three years. This loan was restructured in September 2023. Proceeds from the restructuring 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 enhanced 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. 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. The loan was removed from non-accrual status during the third quarter of fiscal year 2024. This loan has a fair value adjustment as a result of purchase price accounting of $64,000 at December 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 December 31, 2024 and September 30, 2024, the total outstanding principal balance on serviced loans was $11.9 million and $11.8 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-months ended December 31, 2024 and 2023 (unaudited) and the year ended September 30, 2024. Allowance for credit losses and recorded investment in loans for the three months ended December 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 ​ $ 799 ​ $ 156 ​ $ 40 ​ $ — ​ $ 68 ​ $ 1,063 Charge-offs ​ — ​ — ​ — ​ — ​ (20) ​ (20) Recoveries ​ — ​ — ​ — ​ — ​ 1 ​ 1 Transfer ​ (9) ​ (4) ​ (3) ​ — ​ 16 ​ — Provisions ​ 15 ​ — ​ — ​ — ​ — ​ 15 Ending Balance ​ $ 805 ​ $ 152 ​ $ 37 ​ $ — ​ $ 65 ​ $ 1,059 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending Balance: Collectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Evaluated ​ $ 805 ​ $ 152 ​ $ 37 ​ $ — ​ $ 65 ​ $ 1,059 Loans Receivable: ​ ​ ​ ​ ​ ​ Ending Balance ​ $ 108,057 ​ $ 11,267 ​ $ 1,771 ​ $ 11 ​ $ 5,238 ​ $ 126,344 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ 773 ​ $ — ​ $ — ​ $ — ​ $ 773 Ending Balance: Collectively ​ ​ ​ ​ ​ ​ Evaluated ​ $ 108,057 ​ $ 10,494 ​ $ 1,771 ​ $ 11 ​ $ 5,238 ​ $ 125,571 ​ Allowance for credit losses and recorded investment in loans for the three months ended December 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 ​ $ 541 ​ $ 55 ​ $ 4 ​ $ 2 ​ $ 21 ​ $ 623 Charge-offs ​ (62) ​ — ​ — ​ — ​ (6) ​ (68) Recoveries ​ — ​ — ​ — ​ — ​ 2 ​ 2 Transfer ​ — ​ (3) ​ (3) ​ — ​ 6 ​ — Provisions ​ 68 ​ — ​ — ​ — ​ — ​ 68 Adoption of new accounting standard ​ 252 ​ 105 ​ 27 ​ (2) ​ 54 ​ 436 Ending Balance ​ $ 799 ​ $ 157 ​ $ 28 ​ $ — ​ $ 77 ​ $ 1,061 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending Balance: Collectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Evaluated ​ $ 799 ​ $ 157 ​ $ 28 ​ $ — ​ $ 77 ​ $ 1,061 ​ Allowance for credit losses and recorded investment in loans as of September 30, 2024 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Commercial Commercial ​ ​ ​ ​ ​ Residential ​ Commercial ​ Secured ​ Unsecured ​ Consumer ​ Total ​ ​ (In Thousands) Allowance for Credit Losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending Balance: Collectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Evaluated ​ $ 799 ​ $ 156 ​ $ 40 ​ $ — ​ $ 68 ​ $ 1,063 Loans Receivable: ​ ​ ​ ​ ​ ​ Ending Balance ​ $ 107,109 ​ $ 11,239 ​ $ 1,832 ​ $ 11 ​ $ 5,524 ​ $ 125,715 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ 782 ​ $ — ​ $ — ​ $ — ​ $ 782 Ending Balance: Collectively ​ ​ ​ ​ ​ ​ Evaluated ​ $ 107,109 ​ $ 10,457 ​ $ 1,832 ​ $ 11 ​ $ 5,524 ​ $ 124,933 ​ The following table presents performing and nonperforming real estate loans based on payment activity as of December 31, 2024 and September 30, 2024. 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. Performing and nonperforming real estate loans as of December 31, 2024 and September 30, 2024 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ As of September 30, ​ ​ 2024 ​ 2024 ​ ​ (unaudited) ​ ​ ​ ​ ​ (In Thousands) Performing $ 118,649 $ 117,504 Nonperforming ​ 675 ​ 844 Total real estate loans ​ $ 119,324 ​ $ 118,348 ​ Credit quality indicators as of December 31, 2024 and September 30, 2024 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 credit losses. Credit risk profile for loans receivable held in portfolio by internally assigned grade as of December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ Special Mention ​ Substandard ​ Doubtful ​ Total ​ ​ (unaudited) ​ ​ (In Thousands) Mortgage Loans on Real Estate ​ ​ ​ ​ ​ Residential, One to Four Family ​ $ 106,429 ​ $ — ​ $ — ​ $ — ​ $ 106,429 Home Equity ​ 1,628 ​ — ​ — ​ — ​ 1,628 Commercial ​ 10,494 ​ — ​ 773 ​ — ​ 11,267 Total Mortgage Loans on Real Estate ​ 118,551 ​ — ​ 773 ​ — ​ 119,324 Commercial ​ 1,782 ​ — ​ — ​ — ​ 1,782 Consumer ​ 5,238 ​ — ​ — ​ — ​ 5,238 Total Loans ​ $ 125,571 ​ $ — ​ $ 773 ​ $ — ​ $ 126,344 ​ Credit risk profile for loans receivable held in portfolio by internally assigned grade as of September 30, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ Special Mention ​ Substandard ​ Doubtful ​ Total ​ ​ (In Thousands) Mortgage Loans on Real Estate ​ ​ ​ ​ ​ Residential, One to Four Family ​ $ 105,466 ​ $ — ​ $ — ​ $ — ​ $ 105,466 Home Equity ​ 1,643 ​ — ​ — ​ — ​ 1,643 Commercial ​ 10,457 ​ — ​ 782 ​ — ​ 11,239 Total Mortgage Loans on Real Estate ​ 117,566 ​ — ​ 782 ​ — ​ 118,348 Commercial ​ 1,843 ​ — ​ — ​ — ​ 1,843 Consumer ​ 5,524 ​ — ​ — ​ — ​ 5,524 Total Loans ​ $ 124,933 ​ $ — ​ $ 782 ​ $ — ​ $ 125,715 ​ 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 December 31, 2024 and September 30, 2024. 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 December 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 $ 199 $ 559 $ 336 $ 1,094 $ 106,963 $ 108,057 $ — Commercial Mortgage ​ 233 ​ 27 ​ 67 ​ 327 ​ 10,940 ​ 11,267 ​ — Commercial ​ 16 ​ — ​ — ​ 16 ​ 1,766 ​ 1,782 ​ — Consumer ​ 73 ​ — ​ — ​ 73 ​ 5,165 ​ 5,238 ​ — Total Loans ​ $ 521 ​ $ 586 ​ $ 403 ​ $ 1,510 ​ $ 124,834 ​ $ 126,344 ​ $ — ​ An aged analysis of past due financing receivables by class of financing receivable for loans held in portfolio as of September 30, 2024, 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 $ 131 $ 383 $ 420 $ 934 $ 106,175 $ 107,109 $ — Commercial Mortgage ​ — ​ — ​ 67 ​ 67 ​ 11,172 ​ 11,239 ​ — Commercial ​ — ​ — ​ 16 ​ 16 ​ 1,827 ​ 1,843 ​ — Consumer ​ 12 ​ — ​ 14 ​ 26 ​ 5,498 ​ 5,524 ​ — Total Loans ​ $ 143 ​ $ 383 ​ $ 517 ​ $ 1,043 ​ $ 124,672 ​ $ 125,715 ​ $ — ​ 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 months ended December 31, 2024 and 2023. Collateral Dependent Loans There were no loans individually evaluated for expected credit losses where the amortized cost was adjusted to fair value as of December 31, 2024. The Company uses the fair value of underlying collateral, less the selling, admistrative costs, and other expenses necessary to liquidate the collateral in order to estimate the allowance for credit losses for individually evaluated collateral dependent loans. Vintage Analysis The following table presents the Company’s recorded investment in loans by credit quality indicators by year of origination as of December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loans by Fiscal Year of Origination ​ ​ ​ ​ ​ ​ (In Thousands) ​ 2025 ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ Prior ​ Revolving ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate - Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 2,987 ​ $ 9,356 ​ $ 11,228 ​ $ 14,794 ​ $ 17,025 ​ $ 51,039 ​ $ 1,628 ​ $ 108,057 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Real Estate - Residential ​ $ 2,987 ​ $ 9,356 ​ $ 11,228 ​ $ 14,794 ​ $ 17,025 ​ $ 51,039 ​ $ 1,628 ​ $ 108,057 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate - Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 470 ​ $ 1,259 ​ $ 1,962 ​ $ 764 ​ $ 2,198 ​ $ 3,841 ​ $ — ​ $ 10,494 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ 521 ​ — ​ 185 ​ 67 ​ ​ — ​ 773 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Real Estate - Commercial ​ $ 470 ​ $ 1,259 ​ $ 2,483 ​ $ 764 ​ $ 2,383 ​ $ 3,908 ​ $ — ​ $ 11,267 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial - Secured ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 2 ​ $ 597 ​ $ 389 ​ $ 53 ​ $ 184 ​ $ 546 ​ $ — ​ $ 1,771 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Commercial - Secured ​ $ 2 ​ $ 597 ​ $ 389 ​ $ 53 ​ $ 184 ​ $ 546 ​ $ — ​ $ 1,771 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial - Unsecured ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 11 ​ $ — ​ $ 11 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Commercial - Unsecured ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 11 ​ $ — ​ $ 11 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 131 ​ $ 1,666 ​ $ 1,763 ​ $ 755 ​ $ 454 ​ $ 469 ​ $ — ​ $ 5,238 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Consumer ​ $ 131 ​ $ 1,666 ​ $ 1,763 ​ $ 755 ​ $ 454 ​ $ 469 ​ $ — ​ $ 5,238 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ 20 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 20 ​ Nonaccrual Loans The following table is a summary of the Company’s nonaccrual loans by major categories for the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ September 30, 2024 ​ ​ Nonaccrual loans ​ Nonaccrual loans ​ Total Nonaccrual ​ Nonaccrual loans ​ Nonaccrual loans ​ Total Nonaccrual (In Thousands) ​ with No Allowance with an Allowance Loans with No Allowance with an Allowance Loans Real Estate - Residential ​ $ — ​ $ 608 ​ $ 608 ​ $ — ​ $ 777 ​ $ 777 Real Estate - Commercial ​ — ​ 67 ​ 67 ​ — ​ 67 ​ 67 Commercial - Secured ​ — ​ 16 ​ 16 ​ — ​ 16 ​ 16 Commercial - Unsecured ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ — ​ — ​ — ​ — ​ 14 ​ 14 Total Loans ​ $ — ​ $ 691 ​ $ 691 ​ $ — ​ $ 874 ​ $ 874 ​ The Company recognized no interest income on nonaccrual loans during the three months ended December 31, 2024 or 2023. The following table represents the accrued interest receivable written off by reversing interest income during the three months ended December 31, 2024 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ ​ December 31, 2024 ​ December 31, 2023 ​ ​ (In Thousands) Real Estate - Residential ​ $ 11 ​ $ 12 Real Estate - Commercial ​ 2 ​ 9 Consumer ​ — ​ 1 Total Loans ​ $ 13 ​ $ 22 ​

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Dec. 31, 2024
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	NOTE 7: GOODWILL AND INTANGIBLE ASSETS The goodwill and intangible assets arising from the 2022 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 performed its annual impairment evaluation on September 30 and will perform more frequently if events and circumstances indicate that the fair value is less than its carrying value. Goodwill and core deposit intangibles at December 31, 2024 (unaudited) and September 30, 2024 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ As of September 30, ​ ​ 2024 ​ 2024 ​ ​ 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 ​ (971) ​ 1,571 ​ 2,542 ​ (878) ​ 1,664 ​ ​ $ 6,779 ​ $ (971) ​ $ 7,750 ​ $ 6,779 ​ $ (878) ​ $ 7,657 ​ No impairments of goodwill were recognized for the fiscal year ended September 30, 2024. Amortization expense for other intangible assets was $93,000 and $104,000 for the three months ended December 31, 2024 and 2023, respectively. The estimated aggregate amortization expense for each of the five succeeding fiscal years and thereafter, as of December 31, 2024, is summarized below: ​ ​ ​ ​ ​ ​ Fiscal Year Ended September 30, (in thousands) 2025 $ 277 2026 ​ 323 2027 ​ 277 2028 ​ 231 2029 ​ 185 Thereafter ​ ​ 278 ​ ​ $ 1,571 ​

FINANCIAL INSTRUMENTS WITH OFF-

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK	3 Months Ended
	Dec. 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 December 31, 2024 (unaudited) and September 30, 2024 is shown below. ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, September 30, ​ 2024 2024 ​ (unaudited) ​ ​ ​ ​ (in thousands) Commitments to Grant Loans ​ $ 1,456 ​ $ 2,386 Unfunded Commitments Under Lines of Credit ​ $ 4,427 ​ $ 4,566 ​ 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 with no amounts outstanding as of December 31, 2024 and September 30, 2024. 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 $25,000 at December 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 December 31, 2024 and 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended (In Thousands) ​ December 31, 2024 ​ December 31, 2023 Allowance for Credit Losses: ​ ​ ​ ​ ​ ​ Beginning Balance ​ $ 25 $ — Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13 ​ — ​ 29 Provision for unfunded commitments ​ — ​ 2 Ending Balance ​ $ 25 ​ $ 31 ​

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	3 Months Ended
	Dec. 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 December 31, 2024 and September 30, 2024 is 2.50%. The Bank exceeded these “well-capitalized” and “capital conservation buffer” ratios for all periods presented. As of December 31, 2024 and September 30, 2024, 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 December 31, 2024 and September 30, 2024, 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 December 31, 2024 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Capital (to Risk-Weighted Assets) ​ $ 27,089 24.4 ≥ $ 8,865 ≥ 8.0 ≥ $ 11,081 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ 26,005 23.5 ≥ 6,648 ≥ 6.0 ≥ 8,865 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ 26,005 23.5 ≥ 4,986 ≥ 4.5 ≥ 7,203 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ 26,005 13.4 ≥ 7,761 ≥ 4.0 ≥ 9,701 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ 27,089 16.4 ≥ 7,757 ≥ 7.0 ≥ N/A ≥ N/A ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2024 ​ Total Capital (to Risk-Weighted Assets) ​ $ 26,800 24.3 ≥ $ 8,837 ≥ 8.0 ≥ $ 11,046 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ 25,713 23.3 ≥ 6,628 ≥ 6.0 ≥ 8,837 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ 25,713 23.3 ≥ 4,971 ≥ 4.5 ≥ 7,180 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ 25,713 13.3 ≥ 7,748 ≥ 4.0 ≥ 9,685 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ 26,800 16.3 ≥ 7,732 ≥ 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 December 31, 2024 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Capital (to Risk-Weighted Assets) ​ $ 13,997 98.9 ≥ $ 1,132 ≥ 8.0 ≥ $ 1,415 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ ​ 13,997 98.9 ≥ ​ 849 ≥ 6.0 ≥ ​ 1,132 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ ​ 13,997 98.9 ≥ ​ 637 ≥ 4.5 ≥ ​ 920 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ ​ 13,997 39.3 ≥ ​ 1,423 ≥ 4.0 ≥ ​ 1,779 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ ​ 13,997 90.9 ≥ ​ 991 ≥ 7.0 ≥ ​ N/A ≥ N/A ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2024 ​ ​ Total Capital (to Risk-Weighted Assets) ​ $ 13,842 97.5 ≥ $ 1,136 ≥ 8.0 ≥ $ 1,420 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ ​ 13,842 97.5 ≥ ​ 852 ≥ 6.0 ≥ ​ 1,136 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ ​ 13,842 97.5 ≥ ​ 639 ≥ 4.5 ≥ ​ 923 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ ​ 13,842 40.2 ≥ ​ 1,376 ≥ 4.0 ≥ ​ 1,721 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ ​ 13,842 89.5 ≥ ​ 994 ≥ 7.0 ≥ ​ N/A ≥ N/A ​

RETAINED EARNINGS

RETAINED EARNINGS	3 Months Ended
	Dec. 31, 2024
RETAINED EARNINGS
RETAINED EARNINGS	NOTE 10: RETAINED EARNINGS The Company declared a semi-annual cash dividend of $0.08 per share totaling $89,000 in the first quarter of fiscal year 2025. There were no dividends declared during fiscal year 2024.

INTEREST RATE DERIVATIVES

INTEREST RATE DERIVATIVES	3 Months Ended
	Dec. 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 expense for the three months ended December 31, 2024 and 2023 were $(9,000) and $(143,000), 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 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. On November 4, 2024, the Company’s last remaining off-balance sheet swap, $3.0 million in notional value, matured. Information about interest rate swap agreements at December 31, 2024 (unaudited) and September 30, 2024 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) December 31, 2024 (unaudited) ​ ​ Interest Rate Swaps on FHLB Borrowings and Bank Deposits ​ $ — — % — % $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2024 ​ ​ Interest Rate Swaps on FHLB Borrowings and Bank Deposits ​ $ 3,000 1.56 % 5.22 % $ 9 ​ 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 December 31, 2024 (unaudited) and September 30, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ As of September 30, ​ ​ 2024 2024 ​ ​ (unaudited) ​ ​ ​ ​ ​ ​ (In Thousands) Fair Value Hedge – Interest Rate Swap ​ ​ ​ ​ ​ ​ ​ Accrued Interest Receivable and Other Assets ​ $ — ​ $ 9 ​ ​ The notional amount of interest rate swap agreements entered into, that were outstanding at December 31, 2024 (unaudited) and September 30, 2024, mature as follows for the years ended September 30: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, September 30, ​ 2024 2024 ​ (unaudited) ​ ​ ​ ​ (In Thousands) 2025 ​ $ — ​ $ 3,000 ​ ​ $ — ​ $ 3,000 ​

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Dec. 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 utilized interest rate swap agreements based on the Secured Overnight Financing Rate (SOFR). The Company generally determined the fair value of its interest rate swap agreements using externally developed pricing models based on market observable inputs and therefore classified 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 presents 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 December 31, 2024 (unaudited) and September 30, 2024 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) December 31, 2024 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 2,335 ​ $ — ​ $ 2,335 ​ $ — U.S. Government Agencies ​ ​ 7,922 ​ ​ — ​ ​ 7,922 ​ ​ — Mortgaged-Backed Securities ​ ​ 10,728 ​ ​ — ​ ​ 10,728 ​ ​ — Municipal Securities ​ ​ 20,646 ​ ​ — ​ ​ 20,646 ​ ​ — SBA Securities ​ ​ 1,903 ​ ​ — ​ ​ 1,903 ​ ​ — Available-for-Sale Securities ​ $ 43,534 ​ $ — ​ $ 43,534 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate Swap Derivative ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 2,349 ​ $ — ​ $ 2,349 ​ $ — U.S. Government Agencies ​ ​ 8,535 ​ ​ — ​ ​ 8,535 ​ ​ — Mortgaged-Backed Securities ​ ​ 11,171 ​ ​ — ​ ​ 11,171 ​ ​ — Municipal Securities ​ ​ 21,285 ​ ​ — ​ ​ 21,285 ​ ​ — SBA Securities ​ ​ 2,008 ​ ​ — ​ ​ 2,008 ​ ​ — Available-for-Sale Securities ​ $ 45,348 ​ $ — ​ $ 45,348 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate Swap Derivative ​ $ 9 ​ $ — ​ $ 9 ​ $ — ​ 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. The Company held no foreclosed real estate at December 31, 2024 (unaudited) and September 30, 2024. ​ ​ 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 December 31, 2024 (unaudited) and at September 30, 2024. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 December 31, 2024 (unaudited) and at September 30, 2024 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ September 30, 2024 ​ Carrying Value Fair Value Carrying Value Fair Value ​ (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ (In Thousands) Financial Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 3,532 ​ $ 3,532 ​ $ 4,302 ​ $ 4,302 Interest bearing deposits with banks ​ 3,481 ​ 3,481 ​ 2,068 ​ 2,068 Available for sale debt securities ​ 43,534 ​ 43,534 ​ 45,348 ​ 45,348 Portfolio loans, net of deferred fees and allowance for credit losses ​ 124,927 ​ 106,516 ​ 124,257 ​ 108,188 Investments in restricted stock ​ 821 ​ 821 ​ 823 ​ 823 Accrued interest receivable ​ 606 ​ 606 ​ 602 ​ 602 Interest rate swap derivative ​ — ​ — ​ 9 ​ 9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ $ 159,672 ​ $ 129,676 ​ $ 159,902 ​ $ 128,120 Accrued interest payable ​ 2 ​ 2 ​ 2 ​ 2 ​ 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 — Available for sale securities — Loans receivable — Acquired loans (impaired and non-impaired) are initially recorded at their acquisition-date fair values using Level 3 inputs. Fair values are based on a discounted cash flow methodology that involves assumptions and judgments as to credit risk, expected life time losses, environmental factors, collateral values, discount rates, expected payments and expected prepayments. Investments in restricted stock — Accrued interest receivable — Interest Rate Swap Derivative — Deposits — Accrued interest payable —

LEASES

LEASES	3 Months Ended
	Dec. 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 current maturity date is November 2026. The Company’s eral estate lease agreement includes an option to renew at the Company’s discretion which is not included in the maturity schedule below as management is not reasonably certain to exercise the renewal option. The Bank also leases a postage machine which will expire in June 2025 and a copier which will expire in June 2026 both of which are under the terms of operating lease agreements. ASC 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. Future maturities of operating lease liabilities with initial or remaining terms of one year or more as of December 31, 2024 are as follows (in thousands): ​ ​ ​ ​ ​ ​ (unaudited) 2025 ​ $ 16 2026 ​ 20 2027 ​ 2 ​ ​ $ 38 ​ ​ ​ ​ ​ ​ Lease expense for the branch office amounted to $4,000 for the three months ended December 31, 2024 and 2023. Lease expense for the equipment was approximately $2,000 and $1,000 for the three months ended December 31, 2024 and 2023, respectively. The following tables presents information about the Company’s leases as of December 31, 2024 and September 30, 2024, respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 September 30, 2024 ​ ​ (In Thousands) ​ ​ ​ ​ ​ ​ ​ Operating lease right of use assets ​ $ 38 $ 44 Operating lease liability ​ ​ 38 ​ ​ 44 Weighted average remaining lease term, in years: ​ ​ 1.74 years ​ ​ 1.98 years ​ ​ The following table presents information about the Company’s lease activity for the three months ended December 31, 2024 and 2023, respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 December 31, 2024 ​ ​ (In Thousands) Lease expense: ​ ​ ​ ​ ​ ​ Operating lease expense: ​ $ 6 ​ $ 5 Total lease expense: ​ $ 6 ​ $ 5 Cash paid for amounts included in measurement of lease liabilities: ​ $ 6 ​ $ 5 ​

PARENT COMPANY FINANCIAL INFORM

PARENT COMPANY FINANCIAL INFORMATION	3 Months Ended
	Dec. 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 December 31, 2024 (unaudited) and September 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 September 30, 2024 ​ ​ (unaudited) ​ ​ ​ ​ ​ (In Thousands, Except Share and Per Share Amounts) Assets ​ ​ ​ ​ ​ ​ Cash and Cash Equivalents: ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 2,296 ​ $ 2,381 Interest bearing deposits with banks ​ ​ 38 ​ ​ 59 Total Cash and Cash Equivalents ​ ​ 2,334 ​ ​ 2,440 ​ ​ ​ ​ ​ ​ ​ ESOP loan receivable ​ ​ 501 ​ ​ 522 ​ ​ ​ ​ ​ ​ ​ Accrued interest receivable and other assets ​ ​ 133 ​ ​ 137 Investment in subsidiary ​ ​ 29,460 ​ ​ 30,399 ​ ​ ​ ​ ​ ​ ​ Total Assets ​ $ 32,428 ​ $ 33,498 ​ ​ ​ ​ ​ ​ ​ Liabilities and Shareholders' Equity ​ ​ ​ ​ ​ ​ Accrued interest payable and other liabilities ​ $ 685 ​ $ 733 ​ ​ ​ ​ ​ ​ ​ Total Liabilities ​ ​ 685 ​ ​ 733 ​ ​ ​ ​ ​ ​ ​ Shareholders' Equity ​ ​ ​ ​ ​ ​ Preferred stock, $.01 par value: December 31, 2024 and September 30, 2024: ​ ​ ​ ​ ​ ​ 25,000,000 shares authorized; none issued and outstanding ​ ​ — ​ ​ — Common stock, $.01 par value: December 31, 2024 and September 30, 2024: ​ ​ ​ ​ ​ ​ 75,000,000 shares authorized; December 31, 2024: 1,107,134 issued and 1,106,790 outstanding ​ ​ ​ ​ ​ ​ and September 30, 2024: 1,107,134 issued and outstanding ​ ​ 11 ​ ​ 11 Additional paid-in capital ​ ​ 6,490 ​ ​ 6,487 Unearned common stock held by employee stock ownership plan ​ ​ ​ ​ ​ ​ (unallocated shares December 31, 2024: 50,133: September 30, 2024: 53,989) ​ ​ (501) ​ ​ (540) Retained earnings ​ ​ 28,484 ​ ​ 28,413 Authorized but unissued stock, at cost, (shares December 31, 2024: 344: September 30, 2024: 0) ​ ​ (4) ​ ​ — Accumulated other comprehensive loss ​ ​ (2,737) ​ ​ (1,606) Total Shareholders' Equity ​ ​ 31,743 ​ ​ 32,765 ​ ​ ​ ​ ​ ​ ​ Total Liabilities and Shareholders' Equity ​ $ 32,428 ​ $ 33,498 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gouverneur Bancorp, Inc. ​ CONDENSED STATEMENTS OF EARNINGS - PARENT COMPANY ONLY For the Three Months Ended December 31, 2024 and 2023 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended December 31, ​ ​ 2024 2023 ​ ​ (unaudited) ​ ​ ​ (In Thousands, except per share data) ​ Interest Income: ​ ​ ​ ​ ​ ​ ​ Loans receivable, including fees ​ $ 44 ​ $ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Interest Income ​ ​ 44 ​ ​ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Interest Income ​ ​ 44 ​ ​ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest Income: ​ ​ ​ ​ ​ ​ ​ Earnings on deferred fees plan ​ ​ 7 ​ ​ (6) ​ Earnings from subsidiaries ​ ​ 192 ​ ​ 179 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Non-interest Income ​ ​ 199 ​ ​ 173 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest Expenses: ​ ​ ​ ​ ​ ​ ​ Directors' fees ​ ​ 22 ​ ​ 14 ​ Earnings on deferred fees plan ​ ​ 7 ​ ​ (6) ​ Professional fees ​ ​ 30 ​ ​ 34 ​ Other non-interest expenses ​ ​ 24 ​ ​ 21 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Non-interest Expenses ​ ​ 83 ​ ​ 63 ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before Income Tax Expense ​ ​ 160 ​ ​ 118 ​ ​ ​ ​ ​ ​ ​ ​ ​ Income Tax Expense ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Income ​ $ 160 ​ $ 118 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and Diluted Earnings Per Share ​ $ 0.15 ​ $ 0.11 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gouverneur Bancorp, Inc. ​ CONDENSED STATEMENTS OF CASH FLOWS - PARENT COMPANY ONLY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended December 31, ​ ​ 2024 2023 ​ ​ (unaudited) ​ ​ ​ (In Thousands) ​ Cash Flows from Operating Activities: ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 160 ​ $ 118 ​ Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities: ​ ​ ​ ​ ​ ​ ​ Equity in undistributed net earnings of subsidiaries ​ ​ (192) ​ ​ (179) ​ ESOP shares committed to be released ​ ​ 42 ​ ​ 37 ​ Change in accrued interest receivable and other assets ​ ​ 4 ​ ​ (3,115) ​ Change in accrued interest payable and other liabilities ​ ​ (48) ​ ​ (3,159) ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Cash Used in Operating Activities ​ ​ (34) ​ ​ (6,298) ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flows from Investing Activities: ​ ​ ​ ​ ​ ​ ​ ESOP loan issued ​ ​ — ​ ​ (578) ​ Net decrease in loans receivable ​ ​ 21 ​ ​ 56 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Cash Provided by (Used in) Investing Activities ​ ​ 21 ​ ​ (522) ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flows from Financing Activities: ​ ​ ​ ​ ​ ​ ​ Treasury stock purchased ​ ​ (4) ​ ​ — ​ Net stock offering proceeds ​ ​ — ​ ​ 4,932 ​ Cash dividends paid ​ ​ (89) ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Cash (Used in) Provided by Financing Activities ​ ​ (93) ​ ​ 4,932 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Decrease in Cash and Cash Equivalents ​ ​ (106) ​ ​ (1,888) ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and Cash Equivalents - Beginning of Period ​ ​ 2,440 ​ ​ 4,594 ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and Cash Equivalents - End of Period ​ $ 2,334 ​ $ 2,706 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Dec. 31, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ NOTE 15: SUBSEQUENT EVENTS ​ On January 6, 2025, the Bank notified the customers of its branch office located at 20410 NYS Route 411, La Fargeville, New York 13656 (the “La Fargeville Branch”) that the Bank intends to close the La Fargeville Branch effective as of April 7, 2025. ​ ​

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 160	$ 118

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 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

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Dec. 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 December 31, 2024, GS&L Municipal Bank held $23.5 million of the Bank’s $43.5 million investment securities portfolio and $21.0 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 credit losses. In connection with the determination of the estimated credit 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, 2024 and are contained in the Company’s Annual Report on Form 10-K for the year ended September 30, 2024. There have been no significant changes to the application of significant accounting policies since September 30, 2024.
Allowance for Credit Losses - Available for Sale Securities	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 December 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 $200,000 and $246,000 at December 31, 2024 and September 30, 2024, respectively, and was excluded from the estimate of credit losses.
Loans	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 $391,000 and $356,000 at December 31, 2024 and September 30, 2024, respectively, and was reported in accrued interest receivable on the consolidated statements of financial condition. 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	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	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 ASC 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 ASC 606. Service charges on deposits, ATM, and interchange fees ​ Gains and losses on sales of foreclosed assets –

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	3 Months Ended
	Dec. 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-month periods ended December 30, 2024 and 2023 (In thousands, except per share data) (unaudited). ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ December 31, Basic earnings per share: 2024 2023 Net income ​ $ 160 ​ $ 118 Weighted average common shares outstanding used to calculate ​ ​ ​ ​ ​ ​ basic and diluted earnings per common share ​ 1,054 ​ 1,050 Basic and diluted earnings per common share ​ $ 0.15 ​ $ 0.11

COMPREHENSIVE INCOME (LOSS) (Ta

COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Dec. 31, 2024
COMPREHENSIVE INCOME (LOSS)
Schedule of accumulated other comprehensive loss	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ September 30, ​ 2024 ​ 2024 ​ (In thousands) Accumulated Other Comprehensive Loss by Component ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized Loss on Available-for-Sale Securities, net ​ (3,212) ​ (1,788) Tax Effect 674 ​ 375 Net Unrealized Loss on Available-for-Sale Securities (2,538) ​ (1,413) ​ ​ ​ ​ ​ ​ Unrealized Loss for Other Postretirement Obligations $ (253) $ (245) Tax Effect 54 ​ 52 Net Unrealized Loss for Other Postretirement Obligations ​ (199) ​ ​ (193) ​ ​ ​ ​ ​ ​ Total Accumulated Other Comprehensive Loss $ (2,737) ​ $ (1,606) ​

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Dec. 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 December 31, 2024 (unaudited) is represented in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ ​ Cost ​ Gains ​ Losses ​ Value AVAILABLE FOR SALE ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 2,363 ​ $ — ​ $ (28) ​ $ 2,335 U.S. Government Agencies ​ 8,036 ​ — ​ (114) ​ 7,922 Mortgaged-Backed Securities ​ 11,432 ​ 1 ​ (705) ​ 10,728 Municipal Securities ​ 22,995 ​ 15 ​ (2,364) ​ 20,646 SBA Securities ​ 1,920 ​ 4 ​ (21) ​ 1,903 ​ ​ $ 46,746 ​ $ 20 ​ $ (3,232) ​ $ 43,534 ​ The amortized cost of debt securities and their approximate fair value at September 30, 2024 is represented in the table below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ ​ Cost ​ Gains ​ Losses ​ Value AVAILABLE FOR SALE ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 2,346 ​ $ 3 ​ $ — ​ $ 2,349 U.S. Government Agencies ​ 8,479 ​ 57 ​ (1) ​ 8,535 Mortgaged-Backed Securities ​ 11,337 ​ 74 ​ (240) ​ 11,171 Municipal Securities ​ 22,974 ​ 158 ​ (1,847) ​ 21,285 SBA Securities ​ 2,000 ​ 19 ​ (11) ​ 2,008 ​ ​ $ 47,136 ​ $ 311 ​ $ (2,099) ​ $ 45,348
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 December 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 $ 4,011 $ 4,005 Due After One Year Through Five Years ​ 9,588 ​ 9,539 Due After Five Years Through Ten Years ​ 6,724 ​ 6,330 Due After Ten Years ​ 13,071 ​ 11,029 ​ ​ 33,394 ​ 30,903 Mortgage-Backed & SBA Securities with no set maturity ​ 13,352 ​ 12,631 ​ ​ $ 46,746 ​ $ 43,534 ​ The amortized cost and fair value of debt securities, by contractual maturity, at September 30, 2024 is as shown below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt Securities ​ ​ Available-for-Sale ​ ​ Amortized ​ ​ ​ ​ ​ Cost ​ Fair Value ​ ​ (In Thousands) Due Within One Year $ 2,381 $ 2,382 Due After One Year Through Five Years ​ 11,180 ​ 11,265 Due After Five Years Through Ten Years ​ 6,640 ​ 6,487 Due After Ten Years ​ 13,598 ​ 12,035 ​ ​ 33,799 ​ 32,169 Mortgage-Backed & SBA Securities with no set maturity ​ 13,337 ​ 13,179 ​ ​ $ 47,136 ​ $ 45,348
Schedule of securities with gross unrealized losses	Information pertaining to securities with gross unrealized losses at December 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) December 31, 2024 ​ ​ ​ ​ ​ Securities Available-for-Sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US Government Treasuries & Agencies ​ $ 142 ​ $ 9,760 ​ $ — ​ $ — ​ $ 142 ​ $ 9,760 Mortgage-backed & SBA Securities ​ ​ 373 ​ ​ 9,761 ​ ​ 353 ​ ​ 2,391 ​ 726 ​ 12,152 Municipal Securities ​ ​ 97 ​ ​ 6,905 ​ ​ 2,267 ​ ​ 8,670 ​ 2,364 ​ 15,575 ​ ​ $ 612 ​ $ 26,426 ​ $ 2,620 ​ $ 11,061 ​ $ 3,232 ​ $ 37,487 Information pertaining to securities with gross unrealized losses at September 30, 2024 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, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities Available-for-Sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US Government Treasuries & Agencies ​ $ — ​ $ — ​ $ 1 ​ $ 990 ​ $ 1 ​ $ 990 Mortgage-backed & SBA Securities ​ ​ 11 ​ ​ 1,335 ​ ​ 240 ​ ​ 2,570 ​ 251 ​ 3,905 Municipal Securities ​ ​ 12 ​ ​ 763 ​ ​ 1,835 ​ ​ 8,842 ​ 1,847 ​ 9,605 ​ ​ $ 23 ​ $ 2,098 ​ $ 2,076 ​ $ 12,402 ​ $ 2,099 ​ $ 14,500

LOANS RECEIVABLE AND ALLOWANC_2

LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES (Tables)	3 Months Ended
	Dec. 31, 2024
LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES
Schedule of components for loans receivable net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ As of September 30, ​ ​ 2024 ​ 2024 ​ ​ (unaudited) ​ ​ ​ ​ ​ Total Loans ​ ​ (In Thousands) Real Estate Mortgages ​ ​ ​ ​ Residential ​ $ 103,881 ​ $ 103,521 Commercial ​ 11,267 ​ 11,239 Construction ​ 2,548 ​ 1,945 Home Equity ​ 1,628 ​ 1,643 Other Loans: ​ ​ Commercial Non-Mortgage ​ 1,782 ​ 1,843 Automobile ​ 2,480 ​ 2,528 Passbook ​ 386 ​ 437 Consumer ​ 2,372 ​ 2,559 Total Loans ​ 126,344 ​ 125,715 Net Deferred Loan Costs ​ 440 ​ 437 Net Discounts on Acquired Loans ​ (798) ​ (832) Allowance for Credit Losses ​ (1,059) ​ (1,063) Loans Receivable, Net ​ $ 124,927 ​ $ 124,257
Schedule of outstanding principal balance and the related carrying amount of the Company's loans acquired	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ September 30, 2024 ​ ​ (unaudited) ​ ​ ​ ​ ​ (in thousands) Acquired Credit Impaired Loans ​ ​ Outstanding Principal Balance ​ $ — ​ $ — Carrying Amount ​ $ — ​ $ — Acquired Non-Credit Impaired Loans ​ ​ Outstanding Principal Balance ​ $ 28,335 ​ $ 28,996 Carrying Amount ​ $ 27,537 ​ $ 28,164 Total Acquired Loans ​ ​ Outstanding Principal Balance ​ $ 28,335 ​ $ 28,996 Carrying Amount ​ $ 27,537 ​ $ 28,164
Schedule of allowance for credit 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 ​ $ 799 ​ $ 156 ​ $ 40 ​ $ — ​ $ 68 ​ $ 1,063 Charge-offs ​ — ​ — ​ — ​ — ​ (20) ​ (20) Recoveries ​ — ​ — ​ — ​ — ​ 1 ​ 1 Transfer ​ (9) ​ (4) ​ (3) ​ — ​ 16 ​ — Provisions ​ 15 ​ — ​ — ​ — ​ — ​ 15 Ending Balance ​ $ 805 ​ $ 152 ​ $ 37 ​ $ — ​ $ 65 ​ $ 1,059 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending Balance: Collectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Evaluated ​ $ 805 ​ $ 152 ​ $ 37 ​ $ — ​ $ 65 ​ $ 1,059 Loans Receivable: ​ ​ ​ ​ ​ ​ Ending Balance ​ $ 108,057 ​ $ 11,267 ​ $ 1,771 ​ $ 11 ​ $ 5,238 ​ $ 126,344 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ 773 ​ $ — ​ $ — ​ $ — ​ $ 773 Ending Balance: Collectively ​ ​ ​ ​ ​ ​ Evaluated ​ $ 108,057 ​ $ 10,494 ​ $ 1,771 ​ $ 11 ​ $ 5,238 ​ $ 125,571 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ (62) ​ — ​ — ​ — ​ (6) ​ (68) Recoveries ​ — ​ — ​ — ​ — ​ 2 ​ 2 Transfer ​ — ​ (3) ​ (3) ​ — ​ 6 ​ — Provisions ​ 68 ​ — ​ — ​ — ​ — ​ 68 Adoption of new accounting standard ​ 252 ​ 105 ​ 27 ​ (2) ​ 54 ​ 436 Ending Balance ​ $ 799 ​ $ 157 ​ $ 28 ​ $ — ​ $ 77 ​ $ 1,061 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending Balance: Collectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Evaluated ​ $ 799 ​ $ 157 ​ $ 28 ​ $ — ​ $ 77 ​ $ 1,061 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Commercial Commercial ​ ​ ​ ​ ​ Residential ​ Commercial ​ Secured ​ Unsecured ​ Consumer ​ Total ​ ​ (In Thousands) Allowance for Credit Losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending Balance: Collectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Evaluated ​ $ 799 ​ $ 156 ​ $ 40 ​ $ — ​ $ 68 ​ $ 1,063 Loans Receivable: ​ ​ ​ ​ ​ ​ Ending Balance ​ $ 107,109 ​ $ 11,239 ​ $ 1,832 ​ $ 11 ​ $ 5,524 ​ $ 125,715 Ending Balance: Individually ​ ​ ​ ​ ​ ​ Evaluated ​ $ — ​ $ 782 ​ $ — ​ $ — ​ $ — ​ $ 782 Ending Balance: Collectively ​ ​ ​ ​ ​ ​ Evaluated ​ $ 107,109 ​ $ 10,457 ​ $ 1,832 ​ $ 11 ​ $ 5,524 ​ $ 124,933
Schedule of Performing and nonperforming real estate loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ As of September 30, ​ ​ 2024 ​ 2024 ​ ​ (unaudited) ​ ​ ​ ​ ​ (In Thousands) Performing $ 118,649 $ 117,504 Nonperforming ​ 675 ​ 844 Total real estate loans ​ $ 119,324 ​ $ 118,348
Schedule of credit risk profile for loans receivable 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 ​ $ 106,429 ​ $ — ​ $ — ​ $ — ​ $ 106,429 Home Equity ​ 1,628 ​ — ​ — ​ — ​ 1,628 Commercial ​ 10,494 ​ — ​ 773 ​ — ​ 11,267 Total Mortgage Loans on Real Estate ​ 118,551 ​ — ​ 773 ​ — ​ 119,324 Commercial ​ 1,782 ​ — ​ — ​ — ​ 1,782 Consumer ​ 5,238 ​ — ​ — ​ — ​ 5,238 Total Loans ​ $ 125,571 ​ $ — ​ $ 773 ​ $ — ​ $ 126,344 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ Special Mention ​ Substandard ​ Doubtful ​ Total ​ ​ (In Thousands) Mortgage Loans on Real Estate ​ ​ ​ ​ ​ Residential, One to Four Family ​ $ 105,466 ​ $ — ​ $ — ​ $ — ​ $ 105,466 Home Equity ​ 1,643 ​ — ​ — ​ — ​ 1,643 Commercial ​ 10,457 ​ — ​ 782 ​ — ​ 11,239 Total Mortgage Loans on Real Estate ​ 117,566 ​ — ​ 782 ​ — ​ 118,348 Commercial ​ 1,843 ​ — ​ — ​ — ​ 1,843 Consumer ​ 5,524 ​ — ​ — ​ — ​ 5,524 Total Loans ​ $ 124,933 ​ $ — ​ $ 782 ​ $ — ​ $ 125,715 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loans by Fiscal Year of Origination ​ ​ ​ ​ ​ ​ (In Thousands) ​ 2025 ​ 2024 ​ 2023 ​ 2022 ​ 2021 ​ Prior ​ Revolving ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate - Residential ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 2,987 ​ $ 9,356 ​ $ 11,228 ​ $ 14,794 ​ $ 17,025 ​ $ 51,039 ​ $ 1,628 ​ $ 108,057 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Real Estate - Residential ​ $ 2,987 ​ $ 9,356 ​ $ 11,228 ​ $ 14,794 ​ $ 17,025 ​ $ 51,039 ​ $ 1,628 ​ $ 108,057 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate - Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 470 ​ $ 1,259 ​ $ 1,962 ​ $ 764 ​ $ 2,198 ​ $ 3,841 ​ $ — ​ $ 10,494 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ 521 ​ — ​ 185 ​ 67 ​ ​ — ​ 773 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Real Estate - Commercial ​ $ 470 ​ $ 1,259 ​ $ 2,483 ​ $ 764 ​ $ 2,383 ​ $ 3,908 ​ $ — ​ $ 11,267 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial - Secured ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 2 ​ $ 597 ​ $ 389 ​ $ 53 ​ $ 184 ​ $ 546 ​ $ — ​ $ 1,771 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Commercial - Secured ​ $ 2 ​ $ 597 ​ $ 389 ​ $ 53 ​ $ 184 ​ $ 546 ​ $ — ​ $ 1,771 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial - Unsecured ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 11 ​ $ — ​ $ 11 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Commercial - Unsecured ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 11 ​ $ — ​ $ 11 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 131 ​ $ 1,666 ​ $ 1,763 ​ $ 755 ​ $ 454 ​ $ 469 ​ $ — ​ $ 5,238 Special Mention ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Substandard ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ — ​ — Total Consumer ​ $ 131 ​ $ 1,666 ​ $ 1,763 ​ $ 755 ​ $ 454 ​ $ 469 ​ $ — ​ $ 5,238 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross write-offs ​ $ 20 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 20 ​
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 $ 199 $ 559 $ 336 $ 1,094 $ 106,963 $ 108,057 $ — Commercial Mortgage ​ 233 ​ 27 ​ 67 ​ 327 ​ 10,940 ​ 11,267 ​ — Commercial ​ 16 ​ — ​ — ​ 16 ​ 1,766 ​ 1,782 ​ — Consumer ​ 73 ​ — ​ — ​ 73 ​ 5,165 ​ 5,238 ​ — Total Loans ​ $ 521 ​ $ 586 ​ $ 403 ​ $ 1,510 ​ $ 124,834 ​ $ 126,344 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $ 131 $ 383 $ 420 $ 934 $ 106,175 $ 107,109 $ — Commercial Mortgage ​ — ​ — ​ 67 ​ 67 ​ 11,172 ​ 11,239 ​ — Commercial ​ — ​ — ​ 16 ​ 16 ​ 1,827 ​ 1,843 ​ — Consumer ​ 12 ​ — ​ 14 ​ 26 ​ 5,498 ​ 5,524 ​ — Total Loans ​ $ 143 ​ $ 383 ​ $ 517 ​ $ 1,043 ​ $ 124,672 ​ $ 125,715 ​ $ —
Schedule of the Company's nonaccrual loans by major categories	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ September 30, 2024 ​ ​ Nonaccrual loans ​ Nonaccrual loans ​ Total Nonaccrual ​ Nonaccrual loans ​ Nonaccrual loans ​ Total Nonaccrual (In Thousands) ​ with No Allowance with an Allowance Loans with No Allowance with an Allowance Loans Real Estate - Residential ​ $ — ​ $ 608 ​ $ 608 ​ $ — ​ $ 777 ​ $ 777 Real Estate - Commercial ​ — ​ 67 ​ 67 ​ — ​ 67 ​ 67 Commercial - Secured ​ — ​ 16 ​ 16 ​ — ​ 16 ​ 16 Commercial - Unsecured ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer ​ — ​ — ​ — ​ — ​ 14 ​ 14 Total Loans ​ $ — ​ $ 691 ​ $ 691 ​ $ — ​ $ 874 ​ $ 874
Schedule of accrued interest receivable written off by reversing interest income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended ​ ​ December 31, 2024 ​ December 31, 2023 ​ ​ (In Thousands) Real Estate - Residential ​ $ 11 ​ $ 12 Real Estate - Commercial ​ 2 ​ 9 Consumer ​ — ​ 1 Total Loans ​ $ 13 ​ $ 22 ​

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Dec. 31, 2024
GOODWILL AND INTANGIBLE ASSETS
Schedule of Goodwill and Core Deposit Intangibles	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ As of September 30, ​ ​ 2024 ​ 2024 ​ ​ 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 ​ (971) ​ 1,571 ​ 2,542 ​ (878) ​ 1,664 ​ ​ $ 6,779 ​ $ (971) ​ $ 7,750 ​ $ 6,779 ​ $ (878) ​ $ 7,657
Schedule of Estimated Aggregate Amortization Expense	​ ​ ​ ​ ​ ​ Fiscal Year Ended September 30, (in thousands) 2025 $ 277 2026 ​ 323 2027 ​ 277 2028 ​ 231 2029 ​ 185 Thereafter ​ ​ 278 ​ ​ $ 1,571 ​

FINANCIAL INSTRUMENTS WITH OF_2

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK (Tables)	3 Months Ended
	Dec. 31, 2024
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK
Summary of financial instrument commitments	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, September 30, ​ 2024 2024 ​ (unaudited) ​ ​ ​ ​ (in thousands) Commitments to Grant Loans ​ $ 1,456 ​ $ 2,386 Unfunded Commitments Under Lines of Credit ​ $ 4,427 ​ $ 4,566
Schedule of balance and activity in the allowance for credit losses for unfunded loan commitments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended (In Thousands) ​ December 31, 2024 ​ December 31, 2023 Allowance for Credit Losses: ​ ​ ​ ​ ​ ​ Beginning Balance ​ $ 25 $ — Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13 ​ — ​ 29 Provision for unfunded commitments ​ — ​ 2 Ending Balance ​ $ 25 ​ $ 31 ​

REGULATORY CAPITAL REQUIREMEN_2

REGULATORY CAPITAL REQUIREMENTS (Tables)	3 Months Ended
	Dec. 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 December 31, 2024 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Capital (to Risk-Weighted Assets) ​ $ 27,089 24.4 ≥ $ 8,865 ≥ 8.0 ≥ $ 11,081 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ 26,005 23.5 ≥ 6,648 ≥ 6.0 ≥ 8,865 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ 26,005 23.5 ≥ 4,986 ≥ 4.5 ≥ 7,203 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ 26,005 13.4 ≥ 7,761 ≥ 4.0 ≥ 9,701 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ 27,089 16.4 ≥ 7,757 ≥ 7.0 ≥ N/A ≥ N/A ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2024 ​ Total Capital (to Risk-Weighted Assets) ​ $ 26,800 24.3 ≥ $ 8,837 ≥ 8.0 ≥ $ 11,046 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ 25,713 23.3 ≥ 6,628 ≥ 6.0 ≥ 8,837 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ 25,713 23.3 ≥ 4,971 ≥ 4.5 ≥ 7,180 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ 25,713 13.3 ≥ 7,748 ≥ 4.0 ≥ 9,685 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ 26,800 16.3 ≥ 7,732 ≥ 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 December 31, 2024 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Capital (to Risk-Weighted Assets) ​ $ 13,997 98.9 ≥ $ 1,132 ≥ 8.0 ≥ $ 1,415 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ ​ 13,997 98.9 ≥ ​ 849 ≥ 6.0 ≥ ​ 1,132 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ ​ 13,997 98.9 ≥ ​ 637 ≥ 4.5 ≥ ​ 920 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ ​ 13,997 39.3 ≥ ​ 1,423 ≥ 4.0 ≥ ​ 1,779 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ ​ 13,997 90.9 ≥ ​ 991 ≥ 7.0 ≥ ​ N/A ≥ N/A ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2024 ​ ​ Total Capital (to Risk-Weighted Assets) ​ $ 13,842 97.5 ≥ $ 1,136 ≥ 8.0 ≥ $ 1,420 ≥ 10.0 Tier 1 Capital (to Risk-Weighted Assets) ​ ​ 13,842 97.5 ≥ ​ 852 ≥ 6.0 ≥ ​ 1,136 ≥ 8.0 Tier 1 Common Equity (to Risk-Weighted Assets) ​ ​ 13,842 97.5 ≥ ​ 639 ≥ 4.5 ≥ ​ 923 ≥ 6.5 Tier 1 Leverage Ratio (to Adjusted Total Assets) ​ ​ 13,842 40.2 ≥ ​ 1,376 ≥ 4.0 ≥ ​ 1,721 ≥ 5.0 Capital Conservation Buffer on Tier 1 Common Equity ​ ​ 13,842 89.5 ≥ ​ 994 ≥ 7.0 ≥ ​ N/A ≥ N/A ​

INTEREST RATE DERIVATIVES (Tabl

INTEREST RATE DERIVATIVES (Tables)	3 Months Ended
	Dec. 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) December 31, 2024 (unaudited) ​ ​ Interest Rate Swaps on FHLB Borrowings and Bank Deposits ​ $ — — % — % $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2024 ​ ​ Interest Rate Swaps on FHLB Borrowings and Bank Deposits ​ $ 3,000 1.56 % 5.22 % $ 9
Summary of the fair value of outstanding derivatives and their presentation in the consolidated statements of financial condition	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ As of September 30, ​ ​ 2024 2024 ​ ​ (unaudited) ​ ​ ​ ​ ​ ​ (In Thousands) Fair Value Hedge – Interest Rate Swap ​ ​ ​ ​ ​ ​ ​ Accrued Interest Receivable and Other Assets ​ $ — ​ $ 9 ​
Summary of the maturity outstanding derivatives	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, September 30, ​ 2024 2024 ​ (unaudited) ​ ​ ​ ​ (In Thousands) 2025 ​ $ — ​ $ 3,000 ​ ​ $ — ​ $ 3,000 ​

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Dec. 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) December 31, 2024 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 2,335 ​ $ — ​ $ 2,335 ​ $ — U.S. Government Agencies ​ ​ 7,922 ​ ​ — ​ ​ 7,922 ​ ​ — Mortgaged-Backed Securities ​ ​ 10,728 ​ ​ — ​ ​ 10,728 ​ ​ — Municipal Securities ​ ​ 20,646 ​ ​ — ​ ​ 20,646 ​ ​ — SBA Securities ​ ​ 1,903 ​ ​ — ​ ​ 1,903 ​ ​ — Available-for-Sale Securities ​ $ 43,534 ​ $ — ​ $ 43,534 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate Swap Derivative ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government Treasuries ​ $ 2,349 ​ $ — ​ $ 2,349 ​ $ — U.S. Government Agencies ​ ​ 8,535 ​ ​ — ​ ​ 8,535 ​ ​ — Mortgaged-Backed Securities ​ ​ 11,171 ​ ​ — ​ ​ 11,171 ​ ​ — Municipal Securities ​ ​ 21,285 ​ ​ — ​ ​ 21,285 ​ ​ — SBA Securities ​ ​ 2,008 ​ ​ — ​ ​ 2,008 ​ ​ — Available-for-Sale Securities ​ $ 45,348 ​ $ — ​ $ 45,348 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate Swap Derivative ​ $ 9 ​ $ — ​ $ 9 ​ $ —
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	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ September 30, 2024 ​ Carrying Value Fair Value Carrying Value Fair Value ​ (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ (In Thousands) Financial Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 3,532 ​ $ 3,532 ​ $ 4,302 ​ $ 4,302 Interest bearing deposits with banks ​ 3,481 ​ 3,481 ​ 2,068 ​ 2,068 Available for sale debt securities ​ 43,534 ​ 43,534 ​ 45,348 ​ 45,348 Portfolio loans, net of deferred fees and allowance for credit losses ​ 124,927 ​ 106,516 ​ 124,257 ​ 108,188 Investments in restricted stock ​ 821 ​ 821 ​ 823 ​ 823 Accrued interest receivable ​ 606 ​ 606 ​ 602 ​ 602 Interest rate swap derivative ​ — ​ — ​ 9 ​ 9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ $ 159,672 ​ $ 129,676 ​ $ 159,902 ​ $ 128,120 Accrued interest payable ​ 2 ​ 2 ​ 2 ​ 2

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Dec. 31, 2024
LEASES
Summary of future minimum payments for operating leases	Future maturities of operating lease liabilities with initial or remaining terms of one year or more as of December 31, 2024 are as follows (in thousands): ​ ​ ​ ​ ​ ​ (unaudited) 2025 ​ $ 16 2026 ​ 20 2027 ​ 2 ​ ​ $ 38 ​
Summary of information of leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 September 30, 2024 ​ ​ (In Thousands) ​ ​ ​ ​ ​ ​ ​ Operating lease right of use assets ​ $ 38 $ 44 Operating lease liability ​ ​ 38 ​ ​ 44 Weighted average remaining lease term, in years: ​ ​ 1.74 years ​ ​ 1.98 years
Summary of operating lease activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 December 31, 2024 ​ ​ (In Thousands) Lease expense: ​ ​ ​ ​ ​ ​ Operating lease expense: ​ $ 6 ​ $ 5 Total lease expense: ​ $ 6 ​ $ 5 Cash paid for amounts included in measurement of lease liabilities: ​ $ 6 ​ $ 5 ​

PARENT COMPANY FINANCIAL INFO_2

PARENT COMPANY FINANCIAL INFORMATION (Tables)	3 Months Ended
	Dec. 31, 2024
PARENT COMPANY FINANCIAL INFORMATION
Summary of condensed balance sheet	​ ​ ​ ​ ​ ​ ​ ​ Gouverneur Bancorp, Inc. ​ CONDENSED STATEMENTS OF FINANCIAL CONDITION PARENT COMPANY ONLY As of December 31, 2024 (unaudited) and September 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 September 30, 2024 ​ ​ (unaudited) ​ ​ ​ ​ ​ (In Thousands, Except Share and Per Share Amounts) Assets ​ ​ ​ ​ ​ ​ Cash and Cash Equivalents: ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 2,296 ​ $ 2,381 Interest bearing deposits with banks ​ ​ 38 ​ ​ 59 Total Cash and Cash Equivalents ​ ​ 2,334 ​ ​ 2,440 ​ ​ ​ ​ ​ ​ ​ ESOP loan receivable ​ ​ 501 ​ ​ 522 ​ ​ ​ ​ ​ ​ ​ Accrued interest receivable and other assets ​ ​ 133 ​ ​ 137 Investment in subsidiary ​ ​ 29,460 ​ ​ 30,399 ​ ​ ​ ​ ​ ​ ​ Total Assets ​ $ 32,428 ​ $ 33,498 ​ ​ ​ ​ ​ ​ ​ Liabilities and Shareholders' Equity ​ ​ ​ ​ ​ ​ Accrued interest payable and other liabilities ​ $ 685 ​ $ 733 ​ ​ ​ ​ ​ ​ ​ Total Liabilities ​ ​ 685 ​ ​ 733 ​ ​ ​ ​ ​ ​ ​ Shareholders' Equity ​ ​ ​ ​ ​ ​ Preferred stock, $.01 par value: December 31, 2024 and September 30, 2024: ​ ​ ​ ​ ​ ​ 25,000,000 shares authorized; none issued and outstanding ​ ​ — ​ ​ — Common stock, $.01 par value: December 31, 2024 and September 30, 2024: ​ ​ ​ ​ ​ ​ 75,000,000 shares authorized; December 31, 2024: 1,107,134 issued and 1,106,790 outstanding ​ ​ ​ ​ ​ ​ and September 30, 2024: 1,107,134 issued and outstanding ​ ​ 11 ​ ​ 11 Additional paid-in capital ​ ​ 6,490 ​ ​ 6,487 Unearned common stock held by employee stock ownership plan ​ ​ ​ ​ ​ ​ (unallocated shares December 31, 2024: 50,133: September 30, 2024: 53,989) ​ ​ (501) ​ ​ (540) Retained earnings ​ ​ 28,484 ​ ​ 28,413 Authorized but unissued stock, at cost, (shares December 31, 2024: 344: September 30, 2024: 0) ​ ​ (4) ​ ​ — Accumulated other comprehensive loss ​ ​ (2,737) ​ ​ (1,606) Total Shareholders' Equity ​ ​ 31,743 ​ ​ 32,765 ​ ​ ​ ​ ​ ​ ​ Total Liabilities and Shareholders' Equity ​ $ 32,428 ​ $ 33,498 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of condensed income statement	​ ​ ​ ​ ​ ​ ​ ​ ​ Gouverneur Bancorp, Inc. ​ CONDENSED STATEMENTS OF EARNINGS - PARENT COMPANY ONLY For the Three Months Ended December 31, 2024 and 2023 (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended December 31, ​ ​ 2024 2023 ​ ​ (unaudited) ​ ​ ​ (In Thousands, except per share data) ​ Interest Income: ​ ​ ​ ​ ​ ​ ​ Loans receivable, including fees ​ $ 44 ​ $ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Interest Income ​ ​ 44 ​ ​ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Interest Income ​ ​ 44 ​ ​ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest Income: ​ ​ ​ ​ ​ ​ ​ Earnings on deferred fees plan ​ ​ 7 ​ ​ (6) ​ Earnings from subsidiaries ​ ​ 192 ​ ​ 179 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Non-interest Income ​ ​ 199 ​ ​ 173 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest Expenses: ​ ​ ​ ​ ​ ​ ​ Directors' fees ​ ​ 22 ​ ​ 14 ​ Earnings on deferred fees plan ​ ​ 7 ​ ​ (6) ​ Professional fees ​ ​ 30 ​ ​ 34 ​ Other non-interest expenses ​ ​ 24 ​ ​ 21 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Non-interest Expenses ​ ​ 83 ​ ​ 63 ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before Income Tax Expense ​ ​ 160 ​ ​ 118 ​ ​ ​ ​ ​ ​ ​ ​ ​ Income Tax Expense ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Income ​ $ 160 ​ $ 118 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and Diluted Earnings Per Share ​ $ 0.15 ​ $ 0.11 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of condensed cash flow	​ ​ ​ ​ ​ ​ ​ ​ ​ Gouverneur Bancorp, Inc. ​ CONDENSED STATEMENTS OF CASH FLOWS - PARENT COMPANY ONLY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended December 31, ​ ​ 2024 2023 ​ ​ (unaudited) ​ ​ ​ (In Thousands) ​ Cash Flows from Operating Activities: ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 160 ​ $ 118 ​ Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities: ​ ​ ​ ​ ​ ​ ​ Equity in undistributed net earnings of subsidiaries ​ ​ (192) ​ ​ (179) ​ ESOP shares committed to be released ​ ​ 42 ​ ​ 37 ​ Change in accrued interest receivable and other assets ​ ​ 4 ​ ​ (3,115) ​ Change in accrued interest payable and other liabilities ​ ​ (48) ​ ​ (3,159) ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Cash Used in Operating Activities ​ ​ (34) ​ ​ (6,298) ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flows from Investing Activities: ​ ​ ​ ​ ​ ​ ​ ESOP loan issued ​ ​ — ​ ​ (578) ​ Net decrease in loans receivable ​ ​ 21 ​ ​ 56 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Cash Provided by (Used in) Investing Activities ​ ​ 21 ​ ​ (522) ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flows from Financing Activities: ​ ​ ​ ​ ​ ​ ​ Treasury stock purchased ​ ​ (4) ​ ​ — ​ Net stock offering proceeds ​ ​ — ​ ​ 4,932 ​ Cash dividends paid ​ ​ (89) ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Cash (Used in) Provided by Financing Activities ​ ​ (93) ​ ​ 4,932 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Decrease in Cash and Cash Equivalents ​ ​ (106) ​ ​ (1,888) ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and Cash Equivalents - Beginning of Period ​ ​ 2,440 ​ ​ 4,594 ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and Cash Equivalents - End of Period ​ $ 2,334 ​ $ 2,706 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	Oct. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) shares
BASIS OF PRESENTATION
Gross proceeds | $		$ 4,932
Share of common stock		1,107,134
Employee stock ownership		57,845
Gouverneur Savings and Loan Association
BASIS OF PRESENTATION
Gross proceeds | $	$ 7,200
Share of common stock	723,068
Share issued (in dollar per share) | $ / shares	$ 10
Employee stock ownership	57,845
Conversion ratio	0.5334

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	Dec. 31, 2024 USD ($)
SIGNIFICANT ACCOUNTING POLICIES
Investment securities portfolio	$ 43.5
Deposits	21
Municipal Bank
SIGNIFICANT ACCOUNTING POLICIES
Investment securities portfolio	$ 23.5

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recently Issued Accounting Standards (Details) - USD ($)	Dec. 31, 2024	Sep. 30, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Allowance for credit loss related to the available for sale portfolio	$ 0
Accrued interest receivable on available for sale debt securities	$ 200,000	$ 246,000
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Interest Receivable and Other Assets	Interest Receivable and Other Assets
Accrued interest receivable related to loans	$ 391,000	$ 356,000

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Basic earnings per share:
Net income	$ 160	$ 118
Weighted average common shares outstanding used to calculate basic earnings per common share	1,054	1,050
Weighted average common shares outstanding used to calculate diluted earnings per common share	1,054	1,050
Basic earnings per common share	$ 0.15	$ 0.11
Diluted earnings per common share	$ 0.15	$ 0.11

EARNINGS PER COMMON SHARE - Add

EARNINGS PER COMMON SHARE - Additional Information (Details) - shares shares in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 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	Dec. 31, 2024	Sep. 30, 2024
COMPREHENSIVE INCOME (LOSS)
Unrealized Loss on Available-for-Sale Securities, net	$ (3,212)	$ (1,788)
Tax Effect	674	375
Net Unrealized Loss on Available-for-Sale Securities	(2,538)	(1,413)
Unrealized Loss for Other Postretirement Obligations	(253)	(245)
Tax Effect	54	52
Net Unrealized Loss for Other Postretirement Obligations	(199)	(193)
Total Accumulated Other Comprehensive Loss	$ (2,737)	$ (1,606)

INVESTMENT SECURITIES - Amortiz

INVESTMENT SECURITIES - Amortized Cost of Debt Securities and Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
AVAILABLE FOR SALE
Amortized Cost	$ 46,746	$ 47,136
Gross Unrealized Gains	20	311
Gross Unrealized Losses	(3,232)	(2,099)
Available for sale debt securities	43,534	45,348
U.S. Government Treasuries
AVAILABLE FOR SALE
Amortized Cost	2,363	2,346
Gross Unrealized Gains		3
Gross Unrealized Losses	(28)
Available for sale debt securities	2,335	2,349
U.S. Government Agencies
AVAILABLE FOR SALE
Amortized Cost	8,036	8,479
Gross Unrealized Gains		57
Gross Unrealized Losses	(114)	(1)
Available for sale debt securities	7,922	8,535
Mortgaged-Backed Securities
AVAILABLE FOR SALE
Amortized Cost	11,432	11,337
Gross Unrealized Gains	1	74
Gross Unrealized Losses	(705)	(240)
Available for sale debt securities	10,728	11,171
Municipal Securities
AVAILABLE FOR SALE
Amortized Cost	22,995	22,974
Gross Unrealized Gains	15	158
Gross Unrealized Losses	(2,364)	(1,847)
Available for sale debt securities	20,646	21,285
SBA Securities
AVAILABLE FOR SALE
Amortized Cost	1,920	2,000
Gross Unrealized Gains	4	19
Gross Unrealized Losses	(21)	(11)
Available for sale debt securities	$ 1,903	$ 2,008

INVESTMENT SECURITIES - Contrac

INVESTMENT SECURITIES - Contractual Maturity (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2024
Debt Securities Available-for-Sale, Amortized Cost
Due Within One Year	$ 4,011		$ 2,381
Due After One Year Through Five Years	9,588		11,180
Due After Five Years Through Ten Years	6,724		6,640
Due After Ten Years	13,071		13,598
Total	33,394		33,799
Mortgage-Backed & SBA Securities with no set maturity	13,352		13,337
Amortized Cost	46,746		47,136
Debt Securities Available-for-Sale, Fair Value
Due Within One Year	4,005		2,382
Due After One Year Through Five Years	9,539		11,265
Due After Five Years Through Ten Years	6,330		6,487
Due After Ten Years	11,029		12,035
Total	30,903		32,169
Mortgage-Backed & SBA Securities with no set maturity	12,631		13,179
Fair Value	43,534		$ 45,348
Realized gain (loss) on sales of securities - AFS	$ 0	$ 0

INVESTMENT SECURITIES - Continu

INVESTMENT SECURITIES - Continuous Unrealized Loss Position (Details) $ in Thousands	Dec. 31, 2024 USD ($) security	Sep. 30, 2024 USD ($) security
INVESTMENT SECURITIES
Less than Twelve months, Gross Unrealized losses	$ 612	$ 23
Less than Twelve months, Fair value	26,426	2,098
Over Twelve months, Gross Unrealized losses	2,620	2,076
Over Twelve months, Fair value	11,061	12,402
Total, Gross Unrealized losses	3,232	2,099
Total, Fair value	$ 37,487	$ 14,500
Number of positions
Unrealized loss position of less than twelve months | security	78	9
Unrealized loss position of 12 months or more | security	66	69
US Government Treasuries & Agencies
INVESTMENT SECURITIES
Less than Twelve months, Gross Unrealized losses	$ 142
Less than Twelve months, Fair value	9,760
Over Twelve months, Gross Unrealized losses		$ 1
Over Twelve months, Fair value		990
Total, Gross Unrealized losses	142	1
Total, Fair value	9,760	990
Mortgage-Backed & SBA Securities
INVESTMENT SECURITIES
Less than Twelve months, Gross Unrealized losses	373	11
Less than Twelve months, Fair value	9,761	1,335
Over Twelve months, Gross Unrealized losses	353	240
Over Twelve months, Fair value	2,391	2,570
Total, Gross Unrealized losses	726	251
Total, Fair value	12,152	3,905
Municipal Securities
INVESTMENT SECURITIES
Less than Twelve months, Gross Unrealized losses	97	12
Less than Twelve months, Fair value	6,905	763
Over Twelve months, Gross Unrealized losses	2,267	1,835
Over Twelve months, Fair value	8,670	8,842
Total, Gross Unrealized losses	2,364	1,847
Total, Fair value	$ 15,575	$ 9,605

LOANS RECEIVABLE AND ALLOWANC_3

LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Components of Loans receivable net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Components of loans receivable
Total Loans	$ 126,344	$ 125,715
Net Deferred Loan Costs	440	437
Net Discounts on Acquired Loans	(798)	(832)
Allowance for Credit Losses	(1,059)	(1,063)	$ (1,061)	$ (623)
Loans Receivable, Net	124,927	124,257
Residential
Components of loans receivable
Total Loans	103,881	103,521
Commercial
Components of loans receivable
Total Loans	11,267	11,239
Allowance for Credit Losses	(152)	(156)	$ (157)	$ (55)
Construction
Components of loans receivable
Total Loans	2,548	1,945
Home Equity
Components of loans receivable
Total Loans	1,628	1,643
Commercial Non-Mortgage
Components of loans receivable
Total Loans	1,782	1,843
Automobile
Components of loans receivable
Total Loans	2,480	2,528
Passbook
Components of loans receivable
Total Loans	386	437
Other consumer
Components of loans receivable
Total Loans	$ 2,372	$ 2,559

LOANS RECEIVABLE AND ALLOWANC_4

LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Outstanding principal balance and carrying amount (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Components of loans receivable
Balance	$ 126,344	$ 125,715
Carrying Amount	124,927	124,257
Acquired | Citizens Bank of Cape Vincent
Components of loans receivable
Balance	28,335	28,996
Carrying Amount	27,537	28,164
Acquired Non-Credit Impaired Loans | Citizens Bank of Cape Vincent
Components of loans receivable
Balance	28,335	28,996
Carrying Amount	$ 27,537	$ 28,164

LOANS RECEIVABLE AND ALLOWANC_5

LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Narratives (Details) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2024
Components of loans receivable
Interest income recognized until principal balance is collected	$ 0	$ 0
Total Loans	126,344,000		$ 125,715,000
Total outstanding principal balance on serviced loans	11,900,000		11,800,000
Loans made to borrowers	0	$ 0
Loans individually evaluated	0
Commercial loans
Components of loans receivable
Total Loans	$ 1,771,000		1,832,000
Commercial loans | Substandard
Components of loans receivable
Credit performance modified term	3 years
Modified interest rate	6%
Term of notes receivable	5 years
Amortization term of notes receivable	25 years
Loan receivable, fair value	$ 64,000
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 from restructuring paid off current principal and interest due	505,000
Commercial Unsecured
Components of loans receivable
Total Loans	$ 11,000		$ 11,000

LOANS RECEIVABLE AND ALLOWANC_6

LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2024
Allowance for Credit Losses:
Beginning Balance	$ 1,063	$ 623
Charge-offs	(20)	(68)
Recoveries	1	2
Provisions	15	68
Adoption of new accounting standard		436
Ending Balance	1,059	1,061
Ending Balance: Collectively Evaluated	1,059	1,061	$ 1,063
Loans Receivable:
Balance	126,344		125,715
Ending Balance: Individually Evaluated	773		782
Ending Balance: Collectively Evaluated	125,571		124,933
Allowance for Credit Losses
Ending Balance: Individually Evaluated	0
Real Estate - Residential
Allowance for Credit Losses:
Beginning Balance	799	541
Charge-offs		(62)
Transfer	(9)
Provisions	15	68
Adoption of new accounting standard		252
Ending Balance	805	799
Ending Balance: Collectively Evaluated	805	799	799
Loans Receivable:
Balance	108,057		107,109
Ending Balance: Collectively Evaluated	108,057		107,109
Real Estate - Commercial
Allowance for Credit Losses:
Beginning Balance	156	55
Transfer	(4)	(3)
Adoption of new accounting standard		105
Ending Balance	152	157
Ending Balance: Collectively Evaluated	152	157	156
Loans Receivable:
Balance	11,267		11,239
Ending Balance: Individually Evaluated	773		782
Ending Balance: Collectively Evaluated	10,494		10,457
Commercial - Secured
Allowance for Credit Losses:
Beginning Balance	40	4
Transfer	(3)	(3)
Adoption of new accounting standard		27
Ending Balance	37	28
Ending Balance: Collectively Evaluated	37	28	40
Loans Receivable:
Balance	1,771		1,832
Ending Balance: Collectively Evaluated	1,771		1,832
Commercial - Unsecured
Allowance for Credit Losses:
Beginning Balance		2
Adoption of new accounting standard		(2)
Loans Receivable:
Balance	11		11
Ending Balance: Collectively Evaluated	11		11
Consumer
Allowance for Credit Losses:
Beginning Balance	68	21
Charge-offs	(20)	(6)
Recoveries	1	2
Transfer	16	6
Adoption of new accounting standard		54
Ending Balance	65	77
Ending Balance: Collectively Evaluated	65	$ 77	68
Loans Receivable:
Balance	5,238		5,524
Ending Balance: Collectively Evaluated	$ 5,238		$ 5,524

LOANS RECEIVABLE AND ALLOWANC_7

LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Performing and nonperforming (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Components of loans receivable
Total Loans	$ 126,344	$ 125,715
Total real estate loans
Components of loans receivable
Total Loans	126,344	125,715
Real Estate - Residential
Components of loans receivable
Total Loans	108,057	107,109
Real Estate - Residential | Total real estate loans
Components of loans receivable
Total Loans	119,324	118,348
Real Estate - Residential | Performing
Components of loans receivable
Total Loans	118,649	117,504
Real Estate - Residential | Non performing
Components of loans receivable
Total Loans	$ 675	$ 844

LOANS RECEIVABLE AND ALLOWANC_8

LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Credit risk profile for acquired loans (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Components of loans receivable
Total Loans	$ 126,344	$ 125,715
Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	126,344	125,715
Pass | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	125,571	124,933
Substandard | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	773	782
Mortgage Loans on Real Estate
Components of loans receivable
Total Loans	108,057	107,109
Mortgage Loans on Real Estate | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	119,324	118,348
Mortgage Loans on Real Estate | Pass | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	118,551	117,566
Mortgage Loans on Real Estate | Substandard | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	773	782
Residential, One to Four Family | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	106,429	105,466
Residential, One to Four Family | Pass | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	106,429	105,466
Home Equity
Components of loans receivable
Total Loans	1,628	1,643
Home Equity | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	1,628	1,643
Home Equity | Pass | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	1,628	1,643
Commercial
Components of loans receivable
Total Loans	11,267	11,239
Commercial | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	11,267	11,239
Commercial | Pass | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	10,494	10,457
Commercial | Substandard | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	773	782
Commercial Non-Mortgage
Components of loans receivable
Total Loans	1,782	1,843
Commercial Non-Mortgage | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	1,782	1,843
Commercial Non-Mortgage | Pass | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	1,782	1,843
Consumer
Components of loans receivable
Total Loans	5,238	5,524
Consumer | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	5,238	5,524
Consumer | Pass | Receivable Loans Held in Portfolio and Loans Held for Sale
Components of loans receivable
Total Loans	$ 5,238	$ 5,524

LOANS RECEIVABLE AND ALLOWANC_9

LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Aging Analysis (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Past due financing receivables
Total Financing Receivable	$ 126,344	$ 125,715
Financial Asset Loan
Past due financing receivables
Total Past Due	1,510	1,043
Current	124,834	124,672
Total Financing Receivable	126,344	125,715
Financial Asset Loan | 30 - 59 Days Past Due
Past due financing receivables
Total Past Due	521	143
Financial Asset Loan | 60 - 89 Days Past Due
Past due financing receivables
Total Past Due	586	383
Financial Asset Loan | 90 Days or Greater Past Due
Past due financing receivables
Total Past Due	403	517
Mortgage Loans on Real Estate
Past due financing receivables
Total Past Due	108,057
Total Financing Receivable	108,057	107,109
Mortgage Loans on Real Estate | Financial Asset Loan
Past due financing receivables
Total Past Due	1,094	934
Current	106,963	106,175
Total Financing Receivable	108,057	107,109
Mortgage Loans on Real Estate | Financial Asset Loan | 30 - 59 Days Past Due
Past due financing receivables
Total Past Due	199	131
Mortgage Loans on Real Estate | Financial Asset Loan | 60 - 89 Days Past Due
Past due financing receivables
Total Past Due	559	383
Mortgage Loans on Real Estate | Financial Asset Loan | 90 Days or Greater Past Due
Past due financing receivables
Total Past Due	336	420
Commercial
Past due financing receivables
Total Past Due	11,267
Total Financing Receivable	11,267	11,239
Commercial | Financial Asset Loan
Past due financing receivables
Total Past Due	327	67
Current	10,940	11,172
Total Financing Receivable	11,267	11,239
Commercial | Financial Asset Loan | 30 - 59 Days Past Due
Past due financing receivables
Total Past Due	233
Commercial | Financial Asset Loan | 60 - 89 Days Past Due
Past due financing receivables
Total Past Due	27
Commercial | Financial Asset Loan | 90 Days or Greater Past Due
Past due financing receivables
Total Past Due	67	67
Commercial Non-Mortgage
Past due financing receivables
Total Financing Receivable	1,782	1,843
Commercial Non-Mortgage | Financial Asset Loan
Past due financing receivables
Total Past Due	16	16
Current	1,766	1,827
Total Financing Receivable	1,782	1,843
Commercial Non-Mortgage | Financial Asset Loan | 30 - 59 Days Past Due
Past due financing receivables
Total Past Due	16
Commercial Non-Mortgage | Financial Asset Loan | 90 Days or Greater Past Due
Past due financing receivables
Total Past Due		16
Consumer
Past due financing receivables
Total Past Due	5,238
Total Financing Receivable	5,238	5,524
Consumer | Financial Asset Loan
Past due financing receivables
Total Past Due	73	26
Current	5,165	5,498
Total Financing Receivable	5,238	5,524
Consumer | Financial Asset Loan | 30 - 59 Days Past Due
Past due financing receivables
Total Past Due	$ 73	12
Consumer | Financial Asset Loan | 90 Days or Greater Past Due
Past due financing receivables
Total Past Due		$ 14

LOANS RECEIVABLE AND ALLOWAN_10

LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Vintage Analysis (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Term Loans by Fiscal Year of Origination
Current period gross write-offs	$ 20	$ 68
Mortgage Loans on Real Estate
Term Loans by Fiscal Year of Origination
2025	2,987
2024	9,356
2023	11,228
2022	14,794
2021	17,025
Prior	51,039
Revolving	1,628
Total	108,057
Current period gross write-offs		62
Mortgage Loans on Real Estate | Pass
Term Loans by Fiscal Year of Origination
2025	2,987
2024	9,356
2023	11,228
2022	14,794
2021	17,025
Prior	51,039
Revolving	1,628
Total	108,057
Real Estate - Commercial
Term Loans by Fiscal Year of Origination
2025	470
2024	1,259
2023	2,483
2022	764
2021	2,383
Prior	3,908
Total	11,267
Real Estate - Commercial | Pass
Term Loans by Fiscal Year of Origination
2025	470
2024	1,259
2023	1,962
2022	764
2021	2,198
Prior	3,841
Total	10,494
Real Estate - Commercial | Substandard
Term Loans by Fiscal Year of Origination
2023	521
2021	185
Prior	67
Total	773
Commercial - Secured
Term Loans by Fiscal Year of Origination
2025	2
2024	597
2023	389
2022	53
2021	184
Prior	546
Total	1,771
Commercial - Secured | Pass
Term Loans by Fiscal Year of Origination
2025	2
2024	597
2023	389
2022	53
2021	184
Prior	546
Total	1,771
Commercial - Unsecured
Term Loans by Fiscal Year of Origination
Prior	11
Total	11
Commercial - Unsecured | Pass
Term Loans by Fiscal Year of Origination
Prior	11
Total	11
Consumer
Term Loans by Fiscal Year of Origination
2025	131
2024	1,666
2023	1,763
2022	755
2021	454
Prior	469
Total	5,238
Current period gross write-offs	20	$ 6
Consumer | Pass
Term Loans by Fiscal Year of Origination
2025	131
2024	1,666
2023	1,763
2022	755
2021	454
Prior	469
Total	$ 5,238

LOANS RECEIVABLE AND ALLOWAN_11

LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Nonaccrual Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
CECL
Nonaccrual loans with an Allowance	$ 691	$ 874
Total Nonaccrual Loans	691	874
Real Estate - Residential
CECL
Nonaccrual loans with an Allowance	608	777
Total Nonaccrual Loans	608	777
Real Estate - Commercial
CECL
Nonaccrual loans with an Allowance	67	67
Total Nonaccrual Loans	67	67
Commercial - Secured
CECL
Nonaccrual loans with an Allowance	16	16
Total Nonaccrual Loans	$ 16	16
Consumer
CECL
Nonaccrual loans with an Allowance		14
Total Nonaccrual Loans		$ 14

LOANS RECEIVABLE AND ALLOWAN_12

LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES - Accrued interest receivable written off (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Components of loans receivable
Accrued interest receivable written off by reversing interest income	$ 13	$ 22
Real Estate - Residential
Components of loans receivable
Accrued interest receivable written off by reversing interest income	11	12
Real Estate - Commercial
Components of loans receivable
Accrued interest receivable written off by reversing interest income	$ 2	9
Consumer
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 ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Sep. 16, 2022
Goodwill and Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 4,237,000	$ 4,237,000
Intangible Assets	$ 1,571,000	1,664,000
Estimated Useful Life	10 years
Impairment of Goodwill		0
Amortization expense	$ 93,000	$ 104,000
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	Dec. 31, 2024	Sep. 30, 2024
GOODWILL AND INTANGIBLE ASSETS
Goodwill	$ 4,237	$ 4,237
Finite-Lived Intangible Assets
Core Deposit Intangibles, Gross	2,542	2,542
Accumulated Amortization	(971)	(878)
Total	1,571	1,664
Intangible Assets, Net (Including Goodwill)
Intangible Assets Gross Including Goodwill	6,779	6,779
Intangible Assets Net Including Goodwill	$ 7,750	$ 7,657

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Schedule of Estimated Aggregate Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity
2025	$ 277
2026	323
2027	277
2028	231
2029	185
Thereafter	278
Total	$ 1,571	$ 1,664

FINANCIAL INSTRUMENTS WITH OF_3

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK (Details)	Dec. 31, 2024 USD ($) LetterOfCredit	Sep. 30, 2024 USD ($) LetterOfCredit
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK
Number of stand by letters of credit | LetterOfCredit	4	4
Standby letters of credit commitment	$ 176,000	$ 176,000
Standby letters of credit amount outstanding	0	0
Commitments to Grant Loans
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK
Financial instrument commitments amount	1,456,000	2,386,000
Unfunded Commitments Under Lines of Credit
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK
Financial instrument commitments amount	$ 4,427,000	$ 4,566,000

FINANCIAL INSTRUMENTS WITH OF_4

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET CREDIT RISK - Unfunded Commitments (Details) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Allowance for Credit Losses:
Beginning balance	$ 25,000
Provision for unfunded commitments	0	$ 2,000
Ending balance	$ 25,000	31,000
ASU 2016-13 | As Reported Under ASC 326
Allowance for Credit Losses:
Ending balance		$ 29,000

REGULATORY CAPITAL REQUIREMEN_3

REGULATORY CAPITAL REQUIREMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
REGULATORY CAPITAL REQUIREMENTS
Percentage of Capital Conservation Buffer	2.50%	2.50%
Total Capital (to Risk-Weighted Assets), Actual Amount	$ 27,089	$ 26,800
Total Capital (to Risk-Weighted Assets), Actual Ratio	0.244	0.243
Total Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Amount	$ 8,865	$ 8,837
Total Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Ratio	0.08	0.08
Total Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 11,081	$ 11,046
Total Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.10	0.10
Tier 1 Capital (to Risk-Weighted Assets), Actual Amount	$ 26,005	$ 25,713
Tier 1 Capital (to Risk-Weighted Assets), Actual Ratio	0.235	0.233
Tier 1 Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Amount	$ 6,648	$ 6,628
Tier 1 Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Ratio	0.06	0.06
Tier 1 Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 8,865	$ 8,837
Tier 1 Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.08	0.08
Tier 1 Common Equity (to Risk-Weighted Assets), Actual Amount	$ 26,005	$ 25,713
Tier 1 Common Equity (to Risk-Weighted Assets), Actual Ratio	0.235	0.233
Tier 1 Common Equity (to Risk-Weighted Assets), Minimum Capital Requirement, Amount	$ 4,986	$ 4,971
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	$ 7,203	$ 7,180
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	$ 26,005	$ 25,713
Tier 1 Leverage Ratio (to Adjusted Total Assets), Actual Ratio	0.134	0.133
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum Capital Requirement, Amount	$ 7,761	$ 7,748
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum Capital Requirement, Ratio	0.04	0.04
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 9,701	$ 9,685
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.05	0.05
Capital Conservation Buffer on Tier 1 Common Equity, Actual Amount	$ 27,089	$ 26,800
Capital Conservation Buffer on Tier 1 Common Equity, Actual Ratio	0.164	0.163
Capital Conservation Buffer on Tier 1 Common Equity, Minimum Capital Requirement, Amount	$ 7,757	$ 7,732
Capital Conservation Buffer on Tier 1 Common Equity, Minimum Capital Requirement, Ratio	0.07	0.07
Muni Bank
REGULATORY CAPITAL REQUIREMENTS
Total Capital (to Risk-Weighted Assets), Actual Amount	$ 13,997	$ 13,842
Total Capital (to Risk-Weighted Assets), Actual Ratio	0.989	0.975
Total Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Amount	$ 1,132	$ 1,136
Total Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Ratio	0.08	0.08
Total Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 1,415	$ 1,420
Total Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.10	0.10
Tier 1 Capital (to Risk-Weighted Assets), Actual Amount	$ 13,997	$ 13,842
Tier 1 Capital (to Risk-Weighted Assets), Actual Ratio	0.989	0.975
Tier 1 Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Amount	$ 849	$ 852
Tier 1 Capital (to Risk-Weighted Assets), Minimum Capital Requirement, Ratio	0.06	0.06
Tier 1 Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 1,132	$ 1,136
Tier 1 Capital (to Risk-Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.08	0.08
Tier 1 Common Equity (to Risk-Weighted Assets), Actual Amount	$ 13,997	$ 13,842
Tier 1 Common Equity (to Risk-Weighted Assets), Actual Ratio	0.989	0.975
Tier 1 Common Equity (to Risk-Weighted Assets), Minimum Capital Requirement, Amount	$ 637	$ 639
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	$ 920	$ 923
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	$ 13,997	$ 13,842
Tier 1 Leverage Ratio (to Adjusted Total Assets), Actual Ratio	0.393	0.402
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum Capital Requirement, Amount	$ 1,423	$ 1,376
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum Capital Requirement, Ratio	0.04	0.04
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 1,779	$ 1,721
Tier 1 Leverage Ratio (to Adjusted Total Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.05	0.05
Capital Conservation Buffer on Tier 1 Common Equity, Actual Amount	$ 13,997	$ 13,842
Capital Conservation Buffer on Tier 1 Common Equity, Actual Ratio	0.909	0.895
Capital Conservation Buffer on Tier 1 Common Equity, Minimum Capital Requirement, Amount	$ 991	$ 994
Capital Conservation Buffer on Tier 1 Common Equity, Minimum Capital Requirement, Ratio	0.07	0.07

RETAINED EARNINGS (Details)

RETAINED EARNINGS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024
RETAINED EARNINGS
Dividend declared (Semi-Annual/Annual), per share amount	$ 0.08	$ 0
Dividends declared amount	$ 89

INTEREST RATE DERIVATIVES (Deta

INTEREST RATE DERIVATIVES (Details)		3 Months Ended
	Dec. 29, 2023 USD ($) item	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Nov. 04, 2024 USD ($)
Derivative [Line Items]
Amounts recognized in earnings as noninterest gain (loss)		$ (9,000)	$ (143,000)
Realized gain on swaps unwound			$ 75,000
Interest Rate Swap
Derivative [Line Items]
Number of off-balance sheet swaps unwounded | item	2
Notional Amount	$ 2,500,000			$ 3,000,000
Realized gain on swaps unwound	$ 75,000

INTEREST RATE DERIVATIVES - Int

INTEREST RATE DERIVATIVES - Interest Rate Swap Agreements (Details) - Interest Rate Swap - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2024	Nov. 04, 2024	Dec. 29, 2023
Derivative [Line Items]
Notional Amount		$ 3,000	$ 2,500
FHLB Borrowings and Bank Deposits | Designated as hedging Instrument | Fair Value Hedge
Derivative [Line Items]
Notional Amount	$ 3,000
Weighted Average Rate Contract Pay Rate	1.56%
Weighted Average Rate Received Rate	5.22%
Estimated Fair Value (Liability) Asset	$ 9

INTEREST RATE DERIVATIVES - Fai

INTEREST RATE DERIVATIVES - Fair Value of Outstanding Derivatives (Details) - Interest Rate Swap - Designated as hedging Instrument - Fair Value Hedge - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
Derivative [Line Items]
Accrued Interest Receivable and Other Assets		$ 9
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 $ in Thousands	Sep. 30, 2024 USD ($)
Derivative [Line Items]
2025	$ 3,000
Total	$ 3,000

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial assets and liabilities on recurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024
FAIR VALUE MEASUREMENTS
Available for sale debt securities	$ 43,534	$ 45,348
U.S. Government Treasuries
FAIR VALUE MEASUREMENTS
Available for sale debt securities	2,335	2,349
U.S. Government Agencies
FAIR VALUE MEASUREMENTS
Available for sale debt securities	7,922	8,535
Mortgaged-Backed Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	10,728	11,171
Municipal Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	20,646	21,285
SBA Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	1,903	2,008
Recurring
FAIR VALUE MEASUREMENTS
Available for sale debt securities	43,534	45,348
Interest Rate Swap Derivative		9
Recurring | U.S. Government Treasuries
FAIR VALUE MEASUREMENTS
Available for sale debt securities	2,335	2,349
Recurring | U.S. Government Agencies
FAIR VALUE MEASUREMENTS
Available for sale debt securities	7,922	8,535
Recurring | Mortgaged-Backed Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	10,728	11,171
Recurring | Municipal Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	20,646	21,285
Recurring | SBA Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	1,903	2,008
Recurring | Significant Other Observable Inputs (Level 2)
FAIR VALUE MEASUREMENTS
Available for sale debt securities	43,534	45,348
Interest Rate Swap Derivative		9
Recurring | Significant Other Observable Inputs (Level 2) | U.S. Government Treasuries
FAIR VALUE MEASUREMENTS
Available for sale debt securities	2,335	2,349
Recurring | Significant Other Observable Inputs (Level 2) | U.S. Government Agencies
FAIR VALUE MEASUREMENTS
Available for sale debt securities	7,922	8,535
Recurring | Significant Other Observable Inputs (Level 2) | Mortgaged-Backed Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	10,728	11,171
Recurring | Significant Other Observable Inputs (Level 2) | Municipal Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	20,646	21,285
Recurring | Significant Other Observable Inputs (Level 2) | SBA Securities
FAIR VALUE MEASUREMENTS
Available for sale debt securities	$ 1,903	$ 2,008

FAIR VALUE MEASUREMENTS - Quant

FAIR VALUE MEASUREMENTS - Quantitative Information (Details) $ in Thousands	Dec. 31, 2024 USD ($)	Sep. 30, 2024 USD ($)
FAIR VALUE MEASUREMENTS
Foreclosed real estate, net	$ 0	$ 0
Nonrecurring | Appraisal of Collateral | Appraisal Adjustments | Significant Unobservable Inputs (Level 3) | Minimum
FAIR VALUE MEASUREMENTS
Impaired Loans	0.25	0.25
Foreclosed Assets	0.25	0.25
Nonrecurring | Appraisal of Collateral | Appraisal Adjustments | Significant Unobservable Inputs (Level 3) | Maximum
FAIR VALUE MEASUREMENTS
Impaired Loans	0.25	0.25
Foreclosed Assets	0.25	0.25
Nonrecurring | Appraisal of Collateral | Appraisal Adjustments | Significant Unobservable Inputs (Level 3) | Weighted average
FAIR VALUE MEASUREMENTS
Impaired Loans	0.25	0.25
Foreclosed Assets	0.25	0.25
Nonrecurring | Sales approach | Costs to Sell | Significant Unobservable Inputs (Level 3) | Minimum
FAIR VALUE MEASUREMENTS
Impaired Loans	0.06	0.06
Foreclosed Assets	0.06	0.06
Nonrecurring | Sales approach | Costs to Sell | Significant Unobservable Inputs (Level 3) | Maximum
FAIR VALUE MEASUREMENTS
Impaired Loans	0.10	0.10
Foreclosed Assets	0.10	0.10
Nonrecurring | Sales approach | Costs to Sell | Significant Unobservable Inputs (Level 3) | Weighted average
FAIR VALUE MEASUREMENTS
Impaired 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	Dec. 31, 2024	Sep. 30, 2024
FAIR VALUE MEASUREMENTS
Cash and due from banks	$ 3,532	$ 4,302
Interest bearing deposits with banks	3,481	2,068
Time deposits in other financial institutions	37,961	36,280
Available for sale debt securities	43,534	45,348
Carrying Value
FAIR VALUE MEASUREMENTS
Cash and due from banks	3,532	4,302
Interest bearing deposits with banks	3,481	2,068
Available for sale debt securities	43,534	45,348
Portfolio loans, net of deferred fees and allowance for credit losses	124,927	124,257
Investments in restricted stock	821	823
Accrued interest receivable	606	602
Interest rate swap derivative		9
Financial Liabilities
Deposits	159,672	159,902
Accrued interest payable	2	2
Fair Value
FAIR VALUE MEASUREMENTS
Cash and due from banks	3,532	4,302
Interest bearing deposits with banks	3,481	2,068
Available for sale debt securities	43,534	45,348
Portfolio loans, net of deferred fees and allowance for credit losses	106,516	108,188
Investments in restricted stock	821	823
Accrued interest receivable	606	602
Interest rate swap derivative		9
Financial Liabilities
Deposits	129,676	128,120
Accrued interest payable	$ 2	$ 2

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Branch office
LEASES
Lease expense	$ 4,000	$ 4,000
Equipment
LEASES
Lease expense	$ 2,000	$ 1,000

LEASES - Future minimum payment

LEASES - Future minimum payments for operating leases (Details) $ in Thousands	Dec. 31, 2024 USD ($)
LEASES
2025	$ 16
2026	20
2027	2
Total	$ 38

LEASES - Information about the

LEASES - Information about the Company's leases (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
LEASES
Operating lease right of use assets	$ 38	$ 44
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	$ 38	$ 44
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:	1 year 8 months 26 days	1 year 11 months 23 days

LEASES - Operating leases activ

LEASES - Operating leases activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
LEASES
Operating lease expense:	$ 6	$ 5
Total lease expense:	6	5
Cash paid for amounts included in measurement of lease liabilities:	$ 6	$ 5

PARENT COMPANY FINANCIAL INFO_3

PARENT COMPANY FINANCIAL INFORMATION - Financial Condition (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Assets:
Cash and due from banks	$ 3,532	$ 4,302
Interest bearing deposits with banks	3,481	2,068
Total cash and cash equivalents	7,013	6,370
Accrued interest receivable and other assets	4,562	4,500
Total Assets	196,776	197,260
Liabilities and Stockholders' Equity
Accrued interest payable and other liabilities	4,014	4,110
Total liabilities	165,033	164,495
Shareholders' Equity
Preferred stock, $.01 par value: December 31, 2024 and September 30, 2024: 25,000,000 shares authorized; none issued
Common stock, $.01 par value: December 31, 2024 and September 30, 2024: 75,000,000 shares authorized; December 31, 2024: 1,107,134 issued and 1,106,790 outstanding and September 30, 2024: 1,107,134 issued and outstanding	11	11
Additional paid-in capital	6,490	6,487
Unearned common stock held by employee stock ownership plan (unallocated shares December 31, 2024: 50,133: September 30, 2024: 53,989)	(501)	(540)
Retained earnings	28,484	28,413
Authorized but unissued stock, at cost, (shares December 31, 2024: 344: September 30, 2024: 0)	(4)
Accumulated other comprehensive loss	(2,737)	(1,606)
Total shareholders' equity	31,743	32,765	$ 32,059	$ 25,108
Total liabilities and shareholders' equity	196,776	197,260
Parent Company [Member]
Assets:
Cash and due from banks	2,296	2,381
Interest bearing deposits with banks	38	59
Total cash and cash equivalents	2,334	2,440
ESOP loan receivable	501	522
Accrued interest receivable and other assets	133	137
Investment in subsidiary	29,460	30,399
Total Assets	32,428	33,498
Liabilities and Stockholders' Equity
Accrued interest payable and other liabilities	685	733
Total liabilities	685	733
Shareholders' Equity
Preferred stock, $.01 par value: December 31, 2024 and September 30, 2024: 25,000,000 shares authorized; none issued
Common stock, $.01 par value: December 31, 2024 and September 30, 2024: 75,000,000 shares authorized; December 31, 2024: 1,107,134 issued and 1,106,790 outstanding and September 30, 2024: 1,107,134 issued and outstanding	11	11
Additional paid-in capital	6,490	6,487
Unearned common stock held by employee stock ownership plan (unallocated shares December 31, 2024: 50,133: September 30, 2024: 53,989)	(501)	(540)
Retained earnings	28,484	28,413
Authorized but unissued stock, at cost, (shares December 31, 2024: 344: September 30, 2024: 0)	(4)
Accumulated other comprehensive loss	(2,737)	(1,606)
Total shareholders' equity	31,743	32,765
Total liabilities and shareholders' equity	$ 32,428	$ 33,498

PARENT COMPANY FINANCIAL INFO_4

PARENT COMPANY FINANCIAL INFORMATION - Financial Condition (Parenthetical) (Details) - $ / shares	Dec. 31, 2024	Sep. 30, 2024
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	1,107,134	1,107,134
Common stock, shares outstanding	1,106,790	1,107,134
Unallocated shares	50,133	53,989
Authorized unissued stock	344	0
Parent Company [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	1,107,134	1,107,134
Common stock, shares outstanding	1,106,790	1,107,134
Unallocated shares	50,133	53,989
Authorized unissued stock	344	0

PARENT COMPANY FINANCIAL INFO_5

PARENT COMPANY FINANCIAL INFORMATION - Earnings (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Interest Income:
Loans receivable, including fees	$ 1,692	$ 1,601
Total interest income	2,166	2,128
Net Interest Income	1,765	1,804
Non-interest Income:
Earnings on deferred fees plan	(6)	12
Total Non-interest Income	244	147
Non-interest Expenses:
Directors' fees	96	86
Earnings on deferred fees plan	(6)	12
Professional fees	156	150
Other non-interest expenses	269	193
Total non-interest expenses, net	1,835	1,780
Income before Income Tax Expense	159	101
Income Tax Expense	(1)	(17)
Net income	$ 160	$ 118
Earnings per common share - basic	$ 0.15	$ 0.11
Earnings per common share - diluted	$ 0.15	$ 0.11
Parent Company [Member]
Interest Income:
Loans receivable, including fees	$ 44	$ 8
Total interest income	44	8
Net Interest Income	44	8
Non-interest Income:
Earnings on deferred fees plan	7	(6)
Earnings from subsidiaries	192	179
Total Non-interest Income	199	173
Non-interest Expenses:
Directors' fees	22	14
Earnings on deferred fees plan	7	(6)
Professional fees	30	34
Other non-interest expenses	24	21
Total non-interest expenses, net	83	63
Income before Income Tax Expense	160	118
Net income	$ 160	$ 118
Earnings per common share - basic	$ 0.15	$ 0.11
Earnings per common share - diluted	$ 0.15	$ 0.11

PARENT COMPANY FINANCIAL INFO_6

PARENT COMPANY FINANCIAL INFORMATION - Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash Flows from Operating Activities:
Net income	$ 160	$ 118
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
ESOP shares committed to be released	42	37
Change in accrued interest receivable and other assets	239	(485)
Change in accrued interest payable and other liabilities	(104)	(3,238)
Net Cash Used in Operating Activities	340	(3,517)
Cash Flows from Investing Activities:
Net decrease in loans receivable	(704)	387
Net Cash Provided by (Used in) Investing Activities	(238)	849
Cash Flows from Financing Activities:
Treasury stock purchased	(4)
Net stock offering proceeds		4,932
Cash dividends paid	(89)
Net Cash (Used in) Provided by Financing Activities	541	340
Net Decrease in Cash and Cash Equivalents	643	(2,328)
Cash and cash equivalents - Beginning of Period	6,370	10,407
Cash and cash equivalents - End of Period	7,013	8,079
Parent Company [Member]
Cash Flows from Operating Activities:
Net income	160	118
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Equity in undistributed net earnings of subsidiaries	(192)	(179)
ESOP shares committed to be released	42	37
Change in accrued interest receivable and other assets	4	(3,115)
Change in accrued interest payable and other liabilities	(48)	(3,159)
Net Cash Used in Operating Activities	(34)	(6,298)
Cash Flows from Investing Activities:
ESOP loan issued		(578)
Net decrease in loans receivable	21	56
Net Cash Provided by (Used in) Investing Activities	21	(522)
Cash Flows from Financing Activities:
Treasury stock purchased	(4)
Net stock offering proceeds		4,932
Cash dividends paid	(89)
Net Cash (Used in) Provided by Financing Activities	(93)	4,932
Net Decrease in Cash and Cash Equivalents	(106)	(1,888)
Cash and cash equivalents - Beginning of Period	2,440	4,594
Cash and cash equivalents - End of Period	$ 2,334	$ 2,706