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Investment Securities (Tables)
 9 Months Ended
Jun. 30, 2017
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
 
 
 
Cost
 
Gains
 
Losses
 
Value
 
 
 
(In thousands)
 
June 30, 2017:
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed
 
$
38,941
 
$
467
 
$
(68)
 
$
39,340
 
Agency CMO
 
 
14,259
 
 
32
 
 
(56)
 
 
14,235
 
Privately issued CMO
 
 
1,873
 
 
205
 
 
(19)
 
 
2,059
 
Privately issued ABS
 
 
2,956
 
 
813
 
 
-
 
 
3,769
 
SBA certificates
 
 
1,047
 
 
3
 
 
-
 
 
1,050
 
Municipal obligations
 
 
112,076
 
 
5,663
 
 
(173)
 
 
117,566
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total securities available for sale
 
$
171,152
 
$
7,183
 
$
(316)
 
$
178,019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities held to maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed
 
$
187
 
$
17
 
$
-
 
$
204
 
Municipal obligations
 
 
2,768
 
 
371
 
 
-
 
 
3,139
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total securities held to maturity
 
$
2,955
 
$
388
 
$
-
 
$
3,343
 
 
 
 
 
 
Gross
 
Gross
 
 
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
 
 
 
Cost
 
Gains
 
Losses
 
Value
 
 
 
(In thousands)
 
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
 
Amortized Cost and Fair Value of Investment Securities by Contractual Maturity
The amortized cost and fair value of investment securities as of June 30, 2017 by contractual maturity are shown below. CMO, ABS, SBA certificates, and mortgage-backed securities which do not have a single maturity date are shown separately.
 
 
 
Available for Sale
 
Held to Maturity
 
 
 
Amortized
 
Fair
 
Amortized
 
Fair
 
 
 
Cost
 
Value
 
Cost
 
Value
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
Due within one year
 
$
1,531
 
$
1,545
 
$
220
 
$
248
 
Due after one year through five years
 
 
11,528
 
 
12,046
 
 
984
 
 
1,112
 
Due after five years through ten years
 
 
22,513
 
 
24,131
 
 
1,055
 
 
1,207
 
Due after ten years
 
 
76,504
 
 
79,844
 
 
509
 
 
572
 
 
 
 
112,076
 
 
117,566
 
 
2,768
 
 
3,139
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CMO
 
 
16,132
 
 
16,294
 
 
-
 
 
-
 
ABS
 
 
2,956
 
 
3,769
 
 
-
 
 
-
 
SBA certificates
 
 
1,047
 
 
1,050
 
 
-
 
 
-
 
Mortgage-backed securities
 
 
38,941
 
 
39,340
 
 
187
 
 
204
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
171,152
 
$
178,019
 
$
2,955
 
$
3,343
 
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 investment securities with gross unrealized losses at June 30, 2017 and 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
 
 
 
Positions
 
Value
 
Losses
 
 
 
(Dollars in thousands)
 
June 30, 2017:
 
 
 
 
 
 
 
 
 
 
Securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Continuous loss position less than twelve months:
 
 
 
 
 
 
 
 
 
 
Agency mortgage-backed
 
 
10
 
$
9,946
 
$
68
 
Agency CMO
 
 
7
 
 
7,389
 
 
42
 
Privately issued CMO
 
 
2
 
 
126
 
 
19
 
Municipal obligations
 
 
10
 
 
6,938
 
 
173
 
Total less than twelve months
 
 
29
 
 
24,399
 
 
302
 
 
 
 
 
 
 
 
 
 
 
 
Continuous loss position more than twelve months:
 
 
 
 
 
 
 
 
 
 
Agency CMO
 
 
3
 
 
3,341
 
 
14
 
Total more than twelve months
 
 
3
 
 
3,341
 
 
14
 
 
 
 
 
 
 
 
 
 
 
 
Total securities available for sale
 
 
32
 
$
27,740
 
$
316
 
 
 
 
 
 
 
 
 
 
 
 
September 30, 2016:
 
 
 
 
 
 
 
 
 
 
Securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Continuous loss position less than twelve months:
 
 
 
 
 
 
 
 
 
 
Agency CMO
 
 
3
 
$
3,946
 
$
12
 
Privately issued ABS
 
 
2
 
 
66
 
 
7
 
Municipal obligations
 
 
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