Investment Securities (Tables)

12 Months Ended

Sep. 30, 2022

Investment Securities

Investment Securities Available for Sale and Held to Maturity

	September 30, 2022
	Amortized		Gross Unrealized		Gross Unrealized
(in thousands)	Cost		Gains		Losses		Fair Value
Available for sale:
U.S. GSE residential mortgage-backed securities	$	375	$	—	$	(133)	$	242
Corporate bonds		12,700		—		(657)		12,043
Total available for sale securities	$	13,075	$	—	$	(790)	$	12,285
Held to maturity:
U.S. GSE residential mortgage-backed securities	$	1,778	$	—	$	(160)	$	1,618
U.S. GSE commercial mortgage-backed securities		2,636		—		(159)		2,477
Total held to maturity securities		4,414		—		(319)		4,095
Total investment securities	$	17,489	$	—	$	(1,109)	$	16,380

	September 30, 2021
			Gross		Gross
	Amortized		Unrealized		Unrealized
(in thousands)	Cost		Gains		Losses		Fair Value
Available for sale:
U.S. GSE residential mortgage-backed securities	$	722	$	112	$	(1)	$	833
Corporate bonds		6,700		214		—		6,914
Total available for sale securities	$	7,422	$	326	$	(1)	$	7,747
Held to maturity:
U.S. GSE residential mortgage-backed securities	$	2,417	$	74	$	—	$	2,491
U.S. GSE commercial mortgage-backed securities		2,694		175		—		2,869
Corporate bonds		3,500		9		(4)		3,505
Total held to maturity securities		8,611		258		(4)		8,865
Total investment securities	$	16,033	$	584	$	(5)	$	16,612

Securities Portfolio by Contractual Maturity

	September 30, 2022
	Amortized		Fair
(in thousands)	Cost		Value
Securities available for sale:
Five to ten years	$	12,700	$	12,043
U.S. GSE residential mortgage-backed securities		375		242
Total securities available for sale		13,075		12,285
Securities held to maturity:
One to five years		—		—
Five to ten years		—		—
U.S. GSE residential mortgage-backed securities		1,778		1,618
U.S. GSE commercial mortgage-backed securities		2,636		2,477
Total securities held to maturity		4,414		4,095
Total investment securities	$	17,489	$	16,380

Realized Gains and Losses from Sale of Investment Securities

	Year Ended September 30,
(in thousands)	2022		2021
Proceeds from sales	$	2,105	$	3,240
Gross realized gains on sales	$	105	$	240
Gross realized losses on sales		—		—
Total realized gains, net(1)	$	105	$	240

(1) Amount does not include associated income tax of $24 and $49 for year ended September 30, 2022 and 2021, respectively.

Gross Unrealized Losses and Fair Values of Investment Securities

	September 30, 2022
	Less than Twelve Months				Twelve Months or Longer				Total
			Gross				Gross					Gross
			Unrealized				Unrealized		Number of			Unrealized
(in thousands, except number of securities)	Fair Value		Losses		Fair Value		Losses		Securities	Fair Value		Losses
Available-for-sale:
U.S. GSE residential mortgage-backed securities	$	152	$	(126)	$	90	$	(7)	6	$	242	$	(133)
Corporate bonds		10,843		(657)		—		—	6		10,843		(657)
Total available-for-sale	$	10,995	$	(783)	$	90	$	(7)	12	$	11,085	$	(790)
Held-to-maturity:
U.S. GSE residential mortgage-backed securities	$	1,618	$	(160)	$	—	$	—	4	$	1,618	$	(160)
U.S. GSE commercial mortgage-backed securities		2,477		(159)		—		—	1		2,477		(159)
Total held-to-maturity	$	4,095	$	(319)	$	—	$	—	5	$	4,095	$	(319)

	September 30, 2021
	Less than Twelve Months				Twelve Months or Longer				Total
			Gross				Gross					Gross
			Unrealized				Unrealized		Number of			Unrealized
(in thousands, except number of securities)	Fair Value		Losses		Fair Value		Losses		Securities	Fair Value		Losses
Available-for-sale:
U.S. GSE residential mortgage-backed securities	$	143	$	(1)	$	—	$	—	6	$	143	$	(1)
Total available-for-sale	$	143	$	(1)	$	—	$	—	6	$	143	$	(1)
Held-to-maturity:
Corporate bonds	$	1,496	$	(4)	$	—	$	—	1	$	1,496	$	(4)
Total held-to-maturity	$	1,496	$	(4)	$	—	$	—	1	$	1,496	$	(4)