INVESTMENT SECURITIES (Tables)

12 Months Ended

Sep. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Fair Value of Securities

The amortized cost of securities available for sale and held to maturity and their approximate fair values are as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
September 30, 2016:
Securities available for sale:
Agency bonds and notes	$	1,024	$	8	$	-	$	1,032
Agency mortgage-backed		46,376		1,029		-		47,405
Agency CMO		16,053		108		66		16,095
Privately-issued CMO		2,359		293		-		2,652
Privately-issued ABS		3,675		864		7		4,532
SBA certificates		1,220		7		-		1,227
Municipal bonds		94,567		7,002		19		101,550
Total securities available for sale	$	165,274	$	9,311	$	92	$	174,493
Securities held to maturity:
Agency mortgage-backed	$	260	$	23	$	-	$	283
Municipal bonds		2,906		465		-		3,371
Total securities held to maturity	$	3,166	$	488	$	-	$	3,654

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
September 30, 2015:
Securities available for sale:
Agency bonds and notes	$	5,564	$	18	$	-	$	5,582
Agency mortgage-backed		47,418		901		41		48,278
Agency CMO		18,943		118		47		19,014
Privately-issued CMO		3,005		465		-		3,470
Privately-issued ABS		4,820		1,289		-		6,109
SBA certificates		1,472		8		-		1,480
Municipal bonds		90,380		4,185		170		94,395
Total securities available for sale	$	171,602	$	6,984	$	258	$	178,328
Securities held to maturity:
Agency mortgage-backed	$	345	$	31	$	-	$	376
Municipal bonds		4,275		540		-		4,815
Total securities held to maturity	$	4,620	$	571	$	-	$	5,191

Amortized Cost and Fair Value of Investment Securities by Contractual Maturity

The amortized cost and fair value of available for sale and held to maturity debt securities as of September 30, 2016 by contractual maturity are shown below. Expected maturities of mortgage and other asset-backed securities may differ from contractual maturities because the mortgages and other assets underlying the obligations may be prepaid without penalty.

	Available for Sale				Held to Maturity
	Amortized		Fair		Amortized		Fair
(In thousands)	Cost		Value		Cost		Value
Due within one year	$	2,229	$	2,252	$	208	$	241
Due after one year through five years		8,427		8,919		962		1,112
Due after five years through ten years		19,365		21,267		1,171		1,367
Due after ten years		65,570		70,144		565		651
		95,591		102,582		2,906		3,371
CMO		18,412		18,747		-		-
ABS		3,675		4,532		-		-
SBA certificates		1,220		1,227		-		-
Mortgage-backed securities		46,376		47,405		260		283
	$	165,274	$	174,493	$	3,166	$	3,654

Available for Sale Securities with Gross Unrealized Losses by Investment Category and Length of Time Individual Securities Have Been in Continuous Loss Position

Information pertaining to securities with gross unrealized losses at September 30, 2016, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, follows:

	Number				Gross
	of Investment		Fair		Unrealized
(Dollars in thousands)	Positions		Value		Losses
Securities available for sale:
Continuous loss position less than twelve months: Agency CMO		3	$	3,946	$	12
Privately-issued ABS		2		66		7
Municipal bonds		4		2,147		19
Total less than twelve months		9		6,159		38
Continuous loss position more than twelve months: Agency CMO		2		4,683		54
Total more than twelve months		2		4,683		54
Total securities available for sale		11	$	10,842	$	92