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Fair Value Measurements (Tables)
6 Months Ended
Mar. 31, 2023
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 March 31, 2023 and September 30, 2022 were as follows (dollars in thousands):
March 31, 2023Estimated Fair Value 
 Level 1Level 2Level 3Total
Available for sale investment securities    
   MBS: U.S. government agencies$— $54,838 $— $54,838 
Investments in equity securities
   Mutual funds850 — — 850 
Total$850 $54,838 $— $55,688 
September 30, 2022Estimated Fair Value 
 Level 1Level 2Level 3Total
Available for sale investment securities    
   MBS: U.S. government agencies$— $41,415 $— $41,415 
Investments in equity securities
   Mutual funds835 — — 835 
Total$835 $41,415 $ $42,250 
Balances of Assets Measured at Estimated Fair Value, Nonrecurring Basis
The following table summarizes the balances of assets measured at estimated fair value on a non-recurring basis at March 31, 2023 (dollars in thousands):
 Estimated Fair Value
 Level 1Level 2Level 3
Impaired loans:   
  Commercial business loans$— $— $126 
Total$ $ $126 
The following table summarizes the balances of assets measured at estimated fair value on a non-recurring basis at September 30, 2022 (dollars in thousands):
 Estimated Fair Value
 Level 1Level 2Level 3
Impaired loans:   
  Commercial business loans$— $— $123 
Total$ $ $123 
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 March 31, 2023 (dollars in thousands):
  Estimated
Fair Value
 Valuation
Technique(s)
 Unobservable Input(s)
Impaired loans$126 Market approachAppraised value less estimated selling costs
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, 2022 (dollars in thousands):
  Estimated
Fair Value
 Valuation
Technique(s)
 Unobservable Input(s)
Impaired loans$123 Market approachAppraised value less estimated selling costs
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 March 31, 2023 and September 30, 2022 (dollars in thousands):
 March 31, 2023
  Fair Value Measurements Using:
 Recorded
Amount
 Estimated Fair Value 
Level 1
 
Level 2
 
Level 3
Financial assets     
Cash and cash equivalents$142,483 $142,483 $142,483 $— $— 
CDs held for investment20,168 20,168 20,168 — — 
Investment securities332,749 319,930 162,022 157,908 — 
Investments in equity securities850 850 850 — — 
FHLB stock2,202 2,202 2,202 — — 
Other investments3,000 3,000 3,000 — — 
Loans held for sale200 204 204 — — 
Loans receivable, net1,210,193 1,171,041 — — 1,171,041 
     Accrued interest receivable5,295 5,295 5,295 — — 
Financial liabilities     
Certificates of deposit186,109 183,424 — — 183,424 
Accrued interest payable500 500 500 — — 
 September 30, 2022
  Fair Value Measurements Using:
 Recorded
Amount
 Estimated Fair Value
 
Level 1
 
Level 2
 
Level 3
Financial assets     
Cash and cash equivalents$316,755 $316,755 $316,755 $— $— 
CDs held for investment22,894 22,519 22,519 — — 
Investment securities308,023 291,198 158,578 132,620 — 
Investments in equity securities835 835 835 — — 
FHLB stock2,194 2,194 2,194 — — 
Other investments3,000 3,000 3,000 — — 
Loans held for sale748 758 758 — — 
Loans receivable, net1,132,426 1,124,579 — — 1,124,579 
     Accrued interest receivable4,483 4,483 4,483 — — 
Financial liabilities     
Certificates of deposit122,584 120,807 — — 120,807 
Accrued interest payable108 108 108 — —