XML 40 R30.htm IDEA: XBRL DOCUMENT v3.20.2
Fair Value Measurements (Tables)
 9 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis The Company's assets measured at estimated fair value on a recurring basis at June 30, 2020 and September 30, 2019 were as follows (dollars in thousands):
June 30, 2020Estimated Fair Value 
 Level 1Level 2Level 3Total
Available for sale investment securities    
   MBS: U.S. government agencies$—  $41,914  $—  $41,914  
Investments in equity securities
   Mutual funds977  —  —  977  
Total$977  $41,914  $—  $42,891  
September 30, 2019Estimated Fair Value 
 Level 1Level 2Level 3Total
Available for sale investment securities    
   MBS: U.S. government agencies$—  $22,532  $—  $22,532  
Investments in equity securities
   Mutual funds958  —  —  958  
Total$958  $22,532  $—  $23,490  
Balances of Assets Measured at Estimated Fair Value, Nonrecurring Basis
The following table summarizes the balances of assets measured at estimated fair value on a non-recurring basis at June 30, 2020 (dollars in thousands):
 Estimated Fair Value
 Level 1Level 2Level 3
Impaired loans:   
Mortgage loans:   
Land$—  $—  $107  
Consumer loans:
  Commercial business loans—  —  210  
Total impaired loans—  —  317  
OREO and other repossessed assets—  —  1,466  
Total$—  $—  $1,783  
The following table summarizes the balances of assets measured at estimated fair value on a non-recurring basis at September 30, 2019 (dollars in thousands):
 Estimated Fair Value
 Level 1Level 2Level 3
Impaired loans:   
Mortgage loans:   
Land$—  $—  $114  
Consumer loans:   
Other—  —  6  
  Commercial business loans—  —  408  
Total impaired loans—  —  528  
Investment securities – held to maturity:   
MBS - private label residential—  2  —  
OREO and other repossessed assets—  —  1,683  
Total$—  $2  $2,211  
Level 3 Fair Value Measurements, Nonrecurring Basis
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis as of June 30, 2020 (dollars in thousands):
  Estimated
Fair Value		 Valuation
Technique(s)		 Unobservable Input(s) Range
Impaired loans$317  Market approachAppraised value less estimated selling costsNA
OREO and other repossessed assets$1,466  Market approachLower of appraised value or listing price less estimated selling costsNA
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis as of September 30, 2019 (dollars in thousands):
  Estimated
Fair Value		 Valuation
Technique(s)		 Unobservable Input(s) Range
Impaired loans$528  Market approachAppraised value less estimated selling costsNA
OREO and other repossessed assets$1,683  Market approachLower of appraised value or listing price less estimated selling costsNA
Balances of Assets and Liabilities Measured at Estimated Fair Value, Recurring Basis
The recorded amounts and estimated fair values of financial instruments were as follows as of June 30, 2020 and September 30, 2019 (dollars in thousands):
 June 30, 2020
  Fair Value Measurements Using:
 Recorded
Amount		 Estimated Fair Value 
Level 1		 
Level 2		 
Level 3
Financial assets     
Cash and cash equivalents$271,644  $271,644  $271,644  $—  $—  
CDs held for investment72,014  72,014  72,014  —  —  
Investment securities72,574  74,520  —  74,520  —  
Investments in equity securities977  977  977  —  —  
FHLB stock1,922  1,922  1,922  —  —  
Other investments3,000  3,000  3,000  —  —  
Loans held for sale9,837  10,246  10,246  —  —  
Loans receivable, net1,012,759  1,034,204  —  —  1,034,204  
     Accrued interest receivable4,614  4,614  4,614  —  —  
Financial liabilities     
Certificates of deposit163,926  166,585  —  —  166,585  
FHLB borrowings10,000  10,125  —  —  10,125  
Accrued interest payable313  313  313  —  —  
 September 30, 2019
  Fair Value Measurements Using:
 Recorded
Amount		 Estimated Fair Value
 
Level 1
 
Level 2
 
Level 3
Financial assets     
Cash and cash equivalents$143,015  $143,015  $143,015  $—  $—  
CDs held for investment78,346  78,346  78,346  —  —  
Investment securities53,634  55,112  3,949  51,163  —  
Investments in equity securities958  958  958  —  —  
FHLB stock1,437  1,437  1,437  —  —  
Other investments3,000  3,000  3,000  —  —  
Loans held for sale6,071  6,260  6,260  —  —  
Loans receivable, net886,662  892,495  —  —  892,495  
     Accrued interest receivable3,598  3,598  3,598  —  —  
Financial liabilities     
Certificates of deposit165,655  166,852  —  —  166,852  
Accrued interest payable333  333  333  —  —