FAIR VALUE DISCLOSURES (Tables)

9 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of assets measured at fair value on a recurring basis

The following table provides the level of valuation assumptions used to determine the carrying value of the Company’s assets measured at fair value on a recurring basis.

	Fair Value at June 30, 2018
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Securities available for sale:
Obligations of U.S. government agencies:
Mortgage-backed securities - residential	$	1,543	$	—	$	1,543	$	—
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed securities-residential		19,194		—		19,194		—
Debt securities		2,371		—		2,371		—
Private label mortgage-backed securities-residential		3		—		3		—
Total securities available for sale	$	23,111	$	—	$	23,111	$	—

	Fair Value at September 30, 2017
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Securities available for sale:
Obligations of U.S. government-sponsored enterprises:
Mortgage-backed securities-residential	$	9,326	$	—	$	9,326	$	—
Debt securities		2,449		—		2,449		—
Private label mortgage-backed securities-residential		40		—		40		—
Total securities available for sale	$	11,815	$	—	$	11,815	$	—

Schedule of assets measured at fair value on a non-recurring basis

The following table provides the level of valuation assumptions used to determine the carrying value of the Company’s assets measured at fair value on a non-recurring basis at June 30, 2018 and September 30, 2017.

	Fair Value at June 30, 2018
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Impaired loans	$	—	$	—	$	—	$	—
Other real estate owned		10,040		—		—		10,040
	$	10,040	$	—	$	—	$	10,040

	Fair Value at September 30, 2017
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Impaired loans	$	909	$	—	$	—	$	909
Other real estate owned		11,056		—		—		11,056
	$	11,965	$	—	$	—	$	11,965

Schedule of quantitative information about assets measured at fair value on a nonrecurring bassis for which Level 3 inputs were used to determine fair value

Quantitative Information about Level 3 Fair Value Measurements
(Dollars in thousands)
	Fair Value		Valuation
June 30, 2018	Estimate		Techniques	Unobservable Input	Range (Weighted Average)
Impaired loans	$	—	Appraisal of collateral (1)	Appraisal adjustments (2)
Other real estate owned	$	10,040	Appraisal of collateral (1)	Liquidation expenses (2)	-3.1% to -42.2% (-14.4%)

	Fair Value		Valuation
September 30, 2017	Estimate		Techniques	Unobservable Input	Range (Weighted Average)
Impaired loans	$	909	Appraisal of collateral (1)	Appraisal adjustments (2)	-7.9% to -35.2% (-22.3%)
Other real estate owned	$	11,056	Appraisal of collateral (1)	Liquidation expenses (2)	-8.0% to -55.4% (-25.0%)

⁽¹⁾ Fair value is generally determined through independent appraisals for the underlying collateral, which generally include various level 3 inputs which are not identifiable.

⁽²⁾ Appraisals may be adjusted downward by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.

Schedule of the carrying amount, fair value, and placement in the fair value hierarchy of financial instruments carried at cost or amortized cost

	Carrying		Fair		Fair Value Measurement Placement
	Value		Value		(Level 1)		(Level 2)		(Level 3)
	(Dollars in thousands)
June 30, 2018
Financial instruments - assets
Investment securities held to maturity	$	34,342	$	32,905	$	—	$	32,905	$	—
Loans		498,818		495,929		—		—		495,929
Financial instruments - liabilities
Certificates of deposit including retirement certificates		123,206		123,628		—		123,628		—
Borrowings		48,764		48,230		—		48,230		—
September 30, 2017
Financial instruments - assets
Investment securities held to maturity	$	51,368	$	51,241	$	—	$	51,241	$	—
Loans		470,693		473,538		—		—		473,538
Financial instruments - liabilities
Certificates of deposit including retirement certificates		128,028		128,750		—		128,750		—
Borrowings		31,905		31,865		—		31,865		—