v3.26.1
Loans Receivable And Allowance For Credit Losses
 6 Months Ended
Mar. 31, 2026
Financing Receivable, Excluding Accrued Interest, after Allowance for Credit Loss [Abstract]  
Loans Receivable And Allowance For Credit Losses LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES
Loans receivable, net at March 31, 2026 and September 30, 2025 are summarized as follows:
March 31, 2026 September 30, 2025
(Dollars in thousands)
One- to four-family:
Originated$3,676,252 $3,774,134 
Correspondent purchased1,905,759 2,000,216 
Bulk purchased109,675 114,231 
Construction16,123 16,054 
Total5,707,809 5,904,635 
Commercial:
Commercial real estate1,896,313 1,709,990 
Commercial and industrial 232,182 210,119 
Commercial construction189,251 195,886 
Total2,317,746 2,115,995 
Consumer:
Home equity106,414 104,809 
Other7,327 8,436 
Total113,741 113,245 
Total loans receivable8,139,296 8,133,875 
Less:
ACL26,599 24,039 
Deferred loan fees/discounts30,087 31,268 
Premiums/deferred costs(31,595)(33,393)
$8,114,205 $8,111,961 

Lending Practices and Underwriting Standards - The Bank originates one- to four-family loans, originates and participates in commercial loans, and originates consumer loans primarily secured by one- to four-family residential properties. The Bank historically purchased one- to four-family loans from correspondent lenders, but during fiscal year 2024, the Bank suspended its one- to four-family correspondent lending channels for the foreseeable future.

One- to four-family loans - Full documentation to support an applicant's credit and income, and sufficient funds to cover all applicable fees and reserves at closing, are required on all loans. Properties securing one- to four-family loans are appraised by either staff appraisers or fee appraisers, both of which are independent of the loan origination function.

The underwriting standards for loans purchased from correspondent lenders were generally similar to the Bank's internal underwriting standards. The underwriting of loans purchased from correspondent lenders was performed by the Bank's underwriters on a loan-by-loan basis.

The Bank also originates owner-occupied construction-to-permanent loans secured by one- to four-family residential real estate. Construction draw requests and the supporting documentation are reviewed and approved by designated personnel. The Bank also performs regular documented inspections of the construction project to ensure the funds are being used for the intended purpose and the project is being completed according to the plans and specifications provided.

Commercial loans - The Bank's commercial loan portfolio includes loans originated by the Bank or in participation with a lead bank. For commercial participation loans, the Bank performs the same underwriting procedures as if the loan were originated by the Bank.

When underwriting a commercial real estate or commercial construction loan, several factors are considered, such as the income producing potential of the property, cash equity provided by the borrower, the financial strength of the borrower, managerial expertise of the borrower or tenant, feasibility studies, lending experience with the borrower and the marketability of the property. At the time of origination, the loan-to-value ratio ("LTV") on commercial real estate loans generally does not exceed 85% of the appraised value of the property securing the loans and the minimum debt service coverage ratio ("DSCR") is generally 1.15x. The Bank generally
requires a guaranty on all commercial real estate loans, but for an experienced borrower with a strong DSCR and low LTV, the Bank may allow the guaranty percentage to be reduced or phased out, or the Bank may originate the loan as a non-recourse loan.

For commercial construction loans, LTVs generally do not exceed 80% of the projected appraised value of the property securing the loans and the minimum DSCR is generally 1.15x, based upon projected cash flows and the contractual loan payments when the project stabilizes. The borrower must have successful experience with the construction and operation of properties similar to the subject property. Appraisals on properties securing these loans are performed by independent state certified fee appraisers. For construction loans, guaranties are typically required during the period of construction. After construction is complete, for select experienced borrowers that have a strong DSCR and low LTV, the guaranty may be reduced or phased out when the property meets certain performance metrics. Additionally, the Bank generally requires the borrower to contribute equity at the start of a project and prior to any Bank funding.

The Bank's commercial and industrial loans are generally made to borrowers located in Kansas and are underwritten on the basis of the borrower's ability to service the debt from income. Working capital loans are primarily collateralized by short-term assets whereas term loans are primarily collateralized by longer-term assets. In general, commercial and industrial loans involve different types of credit risk than commercial real estate loans due to the nature of the loans and the type of collateral securing the loans. As a result of these complexities, variables and risks, commercial and industrial loans generally require evaluation of different metrics and factors before origination and require more monitoring and servicing after origination than other types of loans.

Management regularly monitors the level of risk in the entire commercial loan portfolio, including concentrations in factors such as collateral type, geographic location, tenant brand name, borrowing relationship, and, in the case of participation loans, lending relationship, among other factors. Commercial borrowers with total loans of $2.5 million or more are reviewed at least annually to monitor financial performance. The annual reviews include evaluating updated financials, as well as performing stress tests to measure the ability of the borrowers to withstand certain stress scenarios such as interest rate increases, revenue decreases and expense increases.

Consumer loans - The Bank offers a variety of consumer loans, the majority of which are home equity loans and lines of credit for which the Bank also has the first mortgage or the first lien position. The underwriting standards for consumer loans include a determination of an applicant's payment history on other debts and an assessment of an applicant's ability to meet existing obligations and payments on the proposed loan. Although creditworthiness of an applicant is a primary consideration, the underwriting process also includes a comparison of the value of the collateral in relation to the proposed loan amount.

Credit Quality Indicators - Based on the Bank's lending emphasis and underwriting standards, management has segmented the loan portfolio into three segments: (1) one- to four-family; (2) consumer; and (3) commercial. These segments are further divided into classes for purposes of providing disaggregated credit quality information about the loan portfolio. The classes are: one- to four-family - originated, one- to four-family - correspondent purchased, one- to four-family - bulk purchased, consumer - home equity, consumer - other, commercial - commercial real estate, and commercial - commercial and industrial. One- to four-family construction loans are included in the originated class and commercial construction loans are included in the commercial real estate class. As part of the ongoing monitoring of the credit quality of the Company's loan portfolio, management tracks certain credit quality indicators, including trends related to loan classification and delinquency status.

Loan Classification - In accordance with the Bank's asset classification policy, management regularly reviews the problem loans in the Bank's portfolio to determine whether any require classification. Loan classifications are defined as follows:

•Special mention - These loans are performing loans on which known information about the collateral pledged or the possible credit problems of the borrower(s) have caused management to have doubts as to the ability of the borrower(s) to comply with present loan repayment terms and which may result in the future inclusion of such loans in the nonaccrual loan categories.
•Substandard - A loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans include those characterized by the distinct possibility the Bank will sustain some loss if the deficiencies are not corrected.
•Doubtful - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses present make collection or liquidation in full on the basis of currently existing facts and conditions and values highly questionable and improbable.
•Loss - Loans classified as loss are considered uncollectible and of such little value that their continuance as assets on the books is not warranted.
The following tables set forth, as of the dates indicated, the amortized cost of loans by class of financing receivable, year of origination or most recent credit decision, and loan classification. Amortized cost is the amount of unpaid principal of the loan, net of undisbursed funds, unamortized premiums and discounts, and deferred fees and costs. All revolving lines of credit and revolving lines of credit converted to term loans are presented separately, regardless of origination year. Loans classified as doubtful or loss are individually evaluated for loss. At March 31, 2026 and September 30, 2025, there were no loans classified as doubtful, and all loans classified as loss were fully charged-off. The commercial real estate substandard loan amount presented in the "Current Fiscal Year" column is primarily related to two loans in the same borrowing relationship that were modified during the current fiscal year. During the current quarter, an updated appraisal was received related to the collateral securing this lending relationship and as a result, a specific valuation allowance was recorded as of March 31, 2026. The loans associated with this lending relationship were on nonaccrual at both March 31, 2026 and September 30, 2025. The loans are recourse loans and have personal guarantees.
March 31, 2026
Revolving
Line of
CurrentFiscalFiscalFiscalFiscalRevolvingCredit
FiscalYearYearYearYearPriorLine ofConverted
Year2025202420232022YearsCreditto TermTotal
(Dollars in thousands)
One- to four-family:
Originated
Pass$118,393 $227,023 $210,407 $278,931 $508,747 $2,312,503 $— $— $3,656,004 
Special Mention— 480 763 1,501 1,213 4,555 — — 8,512 
Substandard— — — 361 299 14,159 — — 14,819 
Correspondent purchased
Pass— — 500 282,798 422,286 1,212,420 — — 1,918,004 
Special Mention— — — 1,668 — 722 — — 2,390 
Substandard— — — 711 840 5,569 — — 7,120 
Bulk purchased
Pass— — — — — 106,343 — — 106,343 
Special Mention— — — — — 1,596 — — 1,596 
Substandard— — — — — 2,084 — — 2,084 
118,393 227,503 211,670 565,970 933,385 3,659,951 — — 5,716,872 
Commercial:
Commercial real estate
Pass439,207 624,768 248,004 280,838 200,794 205,043 11,144 — 2,009,798 
Special Mention— 6,847 — — 15,090 — 415 — 22,352 
Substandard40,386 — 297 2,631 160 2,101 198 — 45,773 
Commercial and industrial
Pass38,932 88,088 23,359 23,840 12,409 6,497 36,930 — 230,055 
Special Mention114 — — — 30 — 220 — 364 
Substandard70 242 131 23 79 — 869 — 1,414 
518,709 719,945 271,791 307,332 228,562 213,641 49,776 — 2,309,756 
Consumer:
Home equity
Pass2,347 4,961 4,891 3,196 3,233 2,921 77,486 7,490 106,525 
Special Mention— — — 13 — — 64 79 156 
Substandard— 98 — — — 4 32 34 168 
Other
Pass1,538 2,311 1,359 958 641 107 358 — 7,272 
Special Mention— — 10 — — — — — 10 
Substandard3 2 12 — 27 1 — — 45 
3,888 7,372 6,272 4,167 3,901 3,033 77,940 7,603 114,176 
Total$640,990 $954,820 $489,733 $877,469 $1,165,848 $3,876,625 $127,716 $7,603 $8,140,804 
September 30, 2025
Revolving
Line of
FiscalFiscalFiscalFiscalFiscalRevolvingCredit
YearYearYearYearYearPriorLine ofConverted
20252024202320222021YearsCreditto TermTotal
(Dollars in thousands)
One- to four-family:
Originated
Pass$233,573 $232,879 $296,339 $529,728 $739,138 $1,722,587 $— $— $3,754,244 
Special Mention— — 1,409 1,099 1,672 4,614 — — 8,794 
Substandard— — 363 568 469 12,005 — — 13,405 
Correspondent purchased
Pass— 510 301,792 439,538 524,927 748,902 — — 2,015,669 
Special Mention— — 1,441 523 366 367 — — 2,697 
Substandard— — — 615 263 4,153 — — 5,031 
Bulk purchased
Pass— — — — — 110,862 — — 110,862 
Special Mention— — — — — 1,564 — — 1,564 
Substandard— — — — — 2,180 — — 2,180 
233,573 233,389 601,344 972,071 1,266,835 2,607,234 — — 5,914,446 
Commercial:
Commercial real estate
Pass639,555 292,900 396,152 208,604 111,266 134,388 9,775 — 1,792,640 
Special Mention7,587 — 36,266 16,060 — 80 — — 59,993 
Substandard39,962 142 2,681 — 106 2,609 50 — 45,550 
Commercial and industrial
Pass103,700 25,950 26,082 14,387 5,555 1,923 31,287 — 208,884 
Special Mention— — — 44 — — 355 — 399 
Substandard— 292 — 87 25 — 69 — 473 
790,804 319,284 461,181 239,182 116,952 139,000 41,536 — 2,107,939 
Consumer:
Home equity
Pass5,609 5,532 3,513 3,755 1,064 2,166 75,067 7,937 104,643 
Special Mention— — 33 — — — 251 42 326 
Substandard100 — — — — 11 57 42 210 
Other
Pass3,629 1,877 1,354 824 175 49 416 — 8,324 
Special Mention— — — — — — — — — 
Substandard8 26 33 45 — — — — 112 
9,346 7,435 4,933 4,624 1,239 2,226 75,791 8,021 113,615 
Total$1,033,723 $560,108 $1,067,458 $1,215,877 $1,385,026 $2,748,460 $117,327 $8,021 $8,136,000 
Delinquency Status - The following tables set forth, as of the dates indicated, the amortized cost of current loans, loans 30 to 89 days delinquent, and loans 90 or more days delinquent or in foreclosure ("90+/FC"), by class of financing receivable and year of origination or most recent credit decision as of the dates indicated. All revolving lines of credit and revolving lines of credit converted to term loans are presented separately, regardless of origination year.
March 31, 2026
Revolving
Line of
CurrentFiscalFiscalFiscalFiscalRevolvingCredit
FiscalYearYearYearYearPriorLine ofConverted
Year2025202420232022YearsCreditto TermTotal
(Dollars in thousands)
One- to four-family:
Originated
Current$118,393 $227,074 $211,170 $280,728 $509,450 $2,321,790 $— $— $3,668,605 
30-89— 429 — — 791 5,388 — — 6,608 
90+/FC— — — 65 18 4,039 — — 4,122 
Correspondent purchased
Current— — 500 284,357 421,760 1,213,593 — — 1,920,210 
30-89— — — 110 526 1,336 — — 1,972 
90+/FC— — — 710 840 3,782 — — 5,332 
Bulk purchased
Current— — — — — 109,263 — — 109,263 
30-89— — — — — 421 — — 421 
90+/FC— — — — — 339 — — 339 
118,393 227,503 211,670 565,970 933,385 3,659,951 — — 5,716,872 
Commercial:
Commercial real estate
Current479,122 631,615 247,955 283,252 215,884 204,326 11,559 — 2,073,713 
30-89471 — 87 — — 1,012 — — 1,570 
90+/FC— — 259 217 160 1,806 198 — 2,640 
Commercial and industrial
Current39,116 87,674 23,359 23,850 12,464 6,497 37,100 — 230,060 
30-89— 656 — 13 54 — 50 — 773 
90+/FC— — 131 — — — 869 — 1,000 
518,709 719,945 271,791 307,332 228,562 213,641 49,776 — 2,309,756 
Consumer:
Home equity
Current2,347 4,974 4,891 3,209 3,218 2,925 77,316 7,368 106,248 
30-89— 85 — — 15 — 247 201 548 
90+/FC— — — — — — 19 34 53 
Other
Current1,538 2,310 1,369 942 662 107 358 — 7,286 
30-89— 1 — 16 6 — — — 23 
90+/FC3 2 12 — — 1 — — 18 
3,888 7,372 6,272 4,167 3,901 3,033 77,940 7,603 114,176 
Total$640,990 $954,820 $489,733 $877,469 $1,165,848 $3,876,625 $127,716 $7,603 $8,140,804 
September 30, 2025
Revolving
Line of
FiscalFiscalFiscalFiscalFiscalRevolvingCredit
YearYearYearYearYearPriorLine ofConverted
20252024202320222021YearsCreditto TermTotal
(Dollars in thousands)
One- to four-family:
Originated
Current$233,573 $232,879 $298,045 $530,487 $740,699 $1,730,689 $— $— $3,766,372 
30-89— — 66 908 473 5,873 — — 7,320 
90+/FC— — — — 107 2,644 — — 2,751 
Correspondent purchased
Current— 510 302,960 440,138 525,556 749,725 — — 2,018,889 
30-89— — 273 161 — 2,664 — — 3,098 
90+/FC— — — 377 — 1,033 — — 1,410 
Bulk purchased
Current— — — — — 114,315 — — 114,315 
30-89— — — — — 156 — — 156 
90+/FC— — — — — 135 — — 135 
233,573 233,389 601,344 972,071 1,266,835 2,607,234 — — 5,914,446 
Commercial:
Commercial real estate
Current687,104 292,556 434,882 223,812 111,227 134,468 9,775 — 1,893,824 
30-89— 344 — 852 40 — — — 1,236 
90+/FC— 142 217 — 105 2,609 50 — 3,123 
Commercial and industrial
Current103,700 26,100 26,082 14,486 5,580 1,923 31,642 — 209,513 
30-89— — — 32 — — — — 32 
90+/FC— 142 — — — — 69 — 211 
790,804 319,284 461,181 239,182 116,952 139,000 41,536 — 2,107,939 
Consumer:
Home equity
Current5,709 5,481 3,546 3,755 1,064 2,171 75,137 7,826 104,689 
30-89— 51 — — — — 198 195 444 
90+/FC— — — — — 6 40 — 46 
Other
Current3,615 1,847 1,353 856 175 49 416 — 8,311 
30-8915 42 20 — — — — — 77 
90+/FC7 14 14 13 — — — — 48 
9,346 7,435 4,933 4,624 1,239 2,226 75,791 8,021 113,615 
Total$1,033,723 $560,108 $1,067,458 $1,215,877 $1,385,026 $2,748,460 $117,327 $8,021 $8,136,000 
Gross Charge-Offs - The following tables present gross charge-offs, for the periods indicated, by class of financing receivable for the year of origination or most recent credit decision.
For the Six Months Ended March 31, 2026
Revolving
Lines
CurrentFiscalFiscalFiscalFiscalRevolvingof Credit
FiscalYearYearYearYearPriorLines ofConverted to
Year2025202420232022YearsCreditTermTotal
(Dollars in thousands)
One- to four-family:
Originated$— $— $12 $— $— $— $— $— $12 
Correspondent purchased— — — — — — — — — 
Bulk purchased— — — — — — — — — 
— — 12 — — — — — 12 
Commercial:
Commercial real estate— — — — — — — — — 
Commercial and industrial— — 77 — — 25 — — 102 
— — 77 — — 25 — — 102 
Consumer:
Home equity16 6 — — — 3 3 — 28 
Other— — — 15 7 — — — 22 
16 6 — 15 7 3 3 — 50 
Total$16 $6 $89 $15 $7 $28 $3 $— $164 

For the Six Months Ended March 31, 2025
Revolving
Lines
FiscalFiscalFiscalFiscalFiscalRevolvingof Credit
YearYearYearYearYearPriorLines ofConverted to
20252024202320222021YearsCreditTermTotal
(Dollars in thousands)
One- to four-family:
Originated$— $— $— $— $— $— $— $— $— 
Correspondent purchased— — — — — — — — — 
Bulk purchased— — — — — 113 — — 113 
— — — — — 113 — — 113 
Commercial:
Commercial real estate— — — — — — — — — 
Commercial and industrial— — — — — — — — — 
— — — — — — — — — 
Consumer:
Home equity8 12 — — — — — — 20 
Other— 1 4 — — — 2 — 7 
8 13 4 — — — 2 — 27 
Total$8 $13 $4 $— $— $113 $2 $— $140 
Delinquent and Nonaccrual Loans - The following tables present the amortized cost, at the dates indicated, by class, of loans 30 to 89 days delinquent, loans 90 or more days delinquent or in foreclosure, total delinquent loans, current loans, and total loans. At March 31, 2026 and September 30, 2025, all loans 90 or more days delinquent were on nonaccrual status.
March 31, 2026
90 or More DaysTotalTotal
30 to 89 DaysDelinquent orDelinquentCurrentAmortized
Delinquentin ForeclosureLoansLoansCost
(Dollars in thousands)
One- to four-family:
Originated$6,608 $4,122 $10,730 $3,668,605 $3,679,335 
Correspondent purchased1,972 5,332 7,304 1,920,210 1,927,514 
Bulk purchased421 339 760 109,263 110,023 
Commercial:
Commercial real estate1,570 2,640 4,210 2,073,713 2,077,923 
Commercial and industrial 773 1,000 1,773 230,060 231,833 
Consumer:
Home equity548 53 601 106,248 106,849 
Other23 18 41 7,286 7,327 
$11,915 $13,504 $25,419 $8,115,385 $8,140,804 

September 30, 2025
90 or More DaysTotalTotal
30 to 89 DaysDelinquent orDelinquentCurrentAmortized
Delinquentin ForeclosureLoansLoansCost
(Dollars in thousands)
One- to four-family:
Originated$7,320 $2,751 $10,071 $3,766,372 $3,776,443 
Correspondent purchased3,098 1,410 4,508 2,018,889 2,023,397 
Bulk purchased156 135 291 114,315 114,606 
Commercial:
Commercial real estate1,236 3,123 4,359 1,893,824 1,898,183 
Commercial and industrial 32 211 243 209,513 209,756 
Consumer:
Home equity444 46 490 104,689 105,179 
Other77 48 125 8,311 8,436 
$12,363 $7,724 $20,087 $8,115,913 $8,136,000 

The amortized cost of mortgage loans secured by residential real estate for which formal foreclosure proceedings were in process as of March 31, 2026 and September 30, 2025 was $1.3 million and $1.0 million, respectively, which is included in loans 90 or more days delinquent or in foreclosure in the tables above. The carrying value of residential OREO held as a result of obtaining physical possession upon completion of a foreclosure or through completion of a deed in lieu of foreclosure was $135 thousand at March 31, 2026 and $197 thousand at September 30, 2025.
The following table presents the amortized cost at March 31, 2026 and September 30, 2025, by class, of loans classified as nonaccrual. Nonaccrual loans with no ACL were individually evaluated for loss and any losses have been charged-off. The majority of the balance of commercial real estate nonaccrual loans at March 31, 2026 and September 30, 2025 related to two loans from the same borrowing relationship. During the current quarter, an updated appraisal was received related to the collateral securing the borrowing relationship and a specific valuation allowance was recorded as of March 31, 2026. See additional discussion related to these loans in the "Credit Quality Indicators - Loan Classification" section above.
March 31, 2026September 30, 2025
Nonaccrual LoansNonaccrual Loans with No ACLNonaccrual LoansNonaccrual Loans with No ACL
(Dollars in thousands)
One- to four-family:
Originated$4,122 $1,693 $2,751 $1,833 
Correspondent purchased5,332 266 1,409 — 
Bulk purchased339 — 135 — 
Commercial:
Commercial real estate43,359 27,528 43,087 43,087 
Commercial and industrial 1,415 640 320 320 
Consumer:
Home equity53 32 46 — 
Other18 — 48 14 
$54,638 $30,159 $47,796 $45,254 

Loan Modifications - The following tables present the amortized cost basis of loans, as of the dates indicated, that were both experiencing financial difficulties and modified during the periods noted, by class of financing receivable and by type of modification. Also presented in the tables is the percentage of the amortized cost basis of loans, at the dates indicated, that were modified to borrowers experiencing financial difficulties as compared to the amortized cost basis of each class of financing receivable during the periods noted. During the six months ended March 31, 2026, the only charge-offs associated with modified loans during the period were $12 thousand for one- to four-family originated loans. During the six months ended March 31, 2025 there were no charge-offs related to loans modified during the period. The Company has not committed to lend additional amounts to borrowers included in these tables. The commercial real estate payment delay modification during the six months ended March 31, 2026 was due primarily to the two loans discussed above, under the "Credit Quality Indicators - Loan Classification" section. These two commercial loans were classified as substandard and nonaccrual at March 31, 2026.
For the Three Months Ended March 31, 2026
Term
ExtensionTotal
andClass of
PaymentTermPaymentFinancing
DelayExtensionDelayTotalReceivable
(Dollars in thousands)
One- to four-family:
Originated$— $1,969 $450 $2,419 0.1%
Correspondent purchased— 346 367 713 —
Bulk purchased1,596 — — 1,596 1.5
1,596 2,315 817 4,728 0.1
Commercial:
Commercial real estate914 — — 914 —
Commercial and industrial— — 13 13 —
914 — 13 927 —
Consumer loans:
Home equity42 — — 42 —
Other— — — — —
42 — — 42 —
Total$2,552 $2,315 $830 $5,697 0.1
For the Six Months Ended March 31, 2026
Term
ExtensionTotal
andClass of
PaymentTermPaymentFinancing
DelayExtensionDelayTotalReceivable
(Dollars in thousands)
One- to four-family:
Originated$134 $4,208 $1,066 $5,408 0.1%
Correspondent purchased— 696 367 1,063 0.1
Bulk purchased1,596 — — 1,596 1.5
1,730 4,904 1,433 8,067 0.1
Commercial:
Commercial real estate40,829 — — 40,829 2.0
Commercial and industrial— — 13 13 —
40,829 — 13 40,842 1.8
Consumer loans:
Home equity42 — — 42 —
Other— — — — —
42 — — 42 —
Total$42,601 $4,904 $1,446 $48,951 0.6

For the Three Months Ended March 31, 2025
Term
ExtensionTotal
andClass of
PaymentTermPaymentFinancing
DelayExtensionDelayTotalReceivable
(Dollars in thousands)
One- to four-family:
Originated$236 $1,344 $651 $2,231 0.1%
Correspondent purchased— 513 187 700 —
Bulk purchased— — — — —
236 1,857 838 2,931 —
Commercial:
Commercial real estate8,189 — — 8,189 0.5
Commercial and industrial— 838 — 838 0.6
8,189 838 — 9,027 0.5
Consumer loans:
Home equity— 35 — 35 —
Other— — — — —
— 35 — 35 —
Total$8,425 $2,730 $838 $11,993 0.2
For the Six Months Ended March 31, 2025
Term
ExtensionTotal
andClass of
PaymentTermPaymentFinancing
DelayExtensionDelayTotalReceivable
(Dollars in thousands)
One- to four-family:
Originated$353 $2,255 $816 $3,424 0.1%
Correspondent purchased— 513 187 700 —
Bulk purchased— — — — —
353 2,768 1,003 4,124 0.1
Commercial:
Commercial real estate8,189 — — 8,189 0.5
Commercial and industrial— 838 — 838 0.6
8,189 838 — 9,027 0.5
Consumer loans:
Home equity20 34 — 54 0.1
Other— — — — —
20 34 — 54 0.1
Total$8,562 $3,640 $1,003 $13,205 0.2

Financial effect of loan modifications - The table below presents the financial effect of loan modifications during the periods noted, including the weighted average payment delay and weighted average term extension.
For the Three Months Ended March 31, 2026For the Six Months Ended March 31, 2026
PaymentTermPaymentTerm
DelayExtensionDelayExtension
One- to four-family:
Originated9 months24 months8 months40 months
Correspondent purchased8 months18 months8 months19 months
Bulk purchased13 monthsN/A13 monthsN/A
Commercial:
Commercial real estate6 monthsN/A11 monthsN/A
Commercial and industrial60 months60 months60 months60 months
Consumer:
Consumer home equity8 monthsN/A8 monthsN/A
For the Three Months Ended March 31, 2025For the Six Months Ended March 31, 2025
PaymentTermPaymentTerm
DelayExtensionDelayExtension
One- to four-family:
Originated8 months20 months8 months18 months
Correspondent purchased9 months34 months9 months34 months
Commercial:
Commercial real estate9 monthsN/A9 monthsN/A
Commercial and industrialN/A3 monthsN/A3 months
Consumer:
Consumer home equityN/A14 months7 months14 months
Performance of loan modifications - The Company closely monitors the performance of loans modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the performance of such loans, based on amortized cost, by class of financing receivable as of March 31, 2026 and March 31, 2025, on loans modified during the preceding 12-months for borrowers experiencing financial difficulty that were delinquent as of March 31, 2026 and March 31, 2025, respectively. All other loans modified to borrowers experiencing financial difficulty during the periods noted were current as of March 31, 2026 and March 31, 2025.
As of March 31, 2026As of March 31, 2025
30 to 89 Days
Delinquent		90 or More Days
Delinquent or in Foreclosure		Total
Delinquent Loans		30 to 89 Days
Delinquent		90 or More Days
Delinquent or in Foreclosure		Total
Delinquent Loans
(Dollars in thousands)
One- to four-family:
Originated$479 $355 $834 $567 $428 $995 
Correspondent purchased— — — — — — 
Bulk purchased— — — — — — 
Commercial:
Commercial real estate766 148 914 — — — 
Commercial and industrial— — — — — — 
Consumer loans:
Home equity— — — — 88 88 
Other— — — — — — 
Total$1,245 $503 $1,748 $567 $516 $1,083 

The following tables present the amortized cost basis of loans that had a payment default during the three and six months ended March 31, 2026 or March 31, 2025 and were modified to borrowers experiencing financial difficulty in the 12-months prior to the default date, by class of financing receivable and by type of modification. The Company considers "default" to mean 90 days or more past due under the modified terms.
For the Three Months Ended March 31, 2026
Term
Extension
and
PaymentTermPayment
DelayExtensionDelayTotal
(Dollars in thousands)
One- to four-family:
Originated$— $169 $470 $639 
Correspondent purchased— — — — 
Bulk purchased— — — — 
Commercial:
Commercial real estate148 — — 148 
Commercial and industrial— — — — 
Consumer loans:
Home equity— — — — 
Other— — — — 
Total$148 $169 $470 $787 
For the Six Months Ended March 31, 2026
Term
Extension
and
PaymentTermPayment
DelayExtensionDelayTotal
(Dollars in thousands)
One- to four-family:
Originated$— $462 $624 $1,086 
Correspondent purchased— — — — 
Bulk purchased— — — — 
Commercial:
Commercial real estate148 — — 148 
Commercial and industrial— — — — 
Consumer loans:
Home equity— — — — 
Other— — — — 
Total$148 $462 $624 $1,234 
For the Three Months Ended March 31, 2025
Term
Extension
and
PaymentTermPayment
DelayExtensionDelayTotal
(Dollars in thousands)
One- to four-family:
Originated$84 $193 $151 $428 
Correspondent purchased— — 187 187 
Bulk purchased— — — — 
Commercial:
Commercial real estate— — 192 192 
Commercial and industrial— — 227 227 
Consumer loans:
Home equity88 — — 88 
Other— — — — 
Total$172 $193 $757 $1,122 
For the Six Months Ended March 31, 2025
Term
Extension
and
PaymentTermPayment
DelayExtensionDelayTotal
(Dollars in thousands)
One- to four-family:
Originated$84 $193 $151 $428 
Correspondent purchased— — 428 428 
Bulk purchased— — — — 
Commercial:
Commercial real estate— — 192 192 
Commercial and industrial— — 227 227 
Consumer loans:
Home equity88 — — 88 
Other— — — — 
Total$172 $193 $998 $1,363 
Allowance for Credit Losses - The following table summarizes ACL activity, by loan portfolio segment, for the periods presented.
For the Three Months Ended March 31, 2026
Commercial
One- to four-Commercial Commercial
FamilyReal Estateand IndustrialTotal ConsumerTotal
(Dollars in thousands)
Beginning balance$2,842 $19,696 $1,826 $21,522 $208 $24,572 
Charge-offs(12)— — — (29)(41)
Recoveries1 — — — 3 4 
Provision for credit losses(168)1,993 220 2,213 19 2,064 
Ending balance$2,663 $21,689 $2,046 $23,735 $201 $26,599 
For the Six Months Ended March 31, 2026
 Commercial
One- to four-Commercial Commercial
FamilyReal Estateand IndustrialTotalConsumerTotal
(Dollars in thousands)
Beginning balance$3,046 $18,277 $2,499 $20,776 $217 $24,039 
Charge-offs(12)— (102)(102)(50)(164)
Recoveries1 — 2 2 5 8 
Provision for credit losses(372)3,412 (353)3,059 29 2,716 
Ending balance$2,663 $21,689 $2,046 $23,735 $201 $26,599 
For the Three Months Ended March 31, 2025
Commercial
One- to four-Commercial Commercial
FamilyReal Estateand IndustrialTotalConsumerTotal
(Dollars in thousands)
Beginning balance$3,757 $19,790 $1,209 $20,999 $241 $24,997 
Charge-offs(113)— — — (10)(123)
Recoveries2 — 2 2 5 9 
Provision for credit losses(84)(785)(40)(825)(4)(913)
Ending balance$3,562 $19,005 $1,171 $20,176 $232 $23,970 
For the Six Months Ended March 31, 2025
Commercial
One- to four-Commercial Commercial
FamilyReal Estateand IndustrialTotalConsumerTotal
(Dollars in thousands)
Beginning balance$3,673 $17,968 $1,186 $19,154 $208 $23,035 
Charge-offs(113)— — — (27)(140)
Recoveries5 20 2 22 6 33 
Provision for credit losses(3)1,017 (17)1,000 45 1,042 
Ending balance$3,562 $19,005 $1,171 $20,176 $232 $23,970 


The key assumptions in the Company's ACL model at March 31, 2026 include the economic forecast, the forecast and reversion to mean time periods, and prepayment and curtailment assumptions. Management also considered certain qualitative factors when evaluating the adequacy of the ACL at March 31, 2026. The key assumptions utilized in estimating the Company's ACL at March 31, 2026 are discussed below.
•Economic Forecast - Management considered several economic forecasts provided by a third party and selected an economic forecast that was the most appropriate considering the facts and circumstances at March 31, 2026. The forecasted economic indices applied to the model at March 31, 2026 were the national unemployment rate, changes in commercial real estate price index, changes in home values, changes in the U.S. consumer price index, and changes in the U.S. gross domestic product. The economic index most impactful to all loan pools within the model at March 31, 2026 was the national unemployment
rate. The forecasted national unemployment rate in the economic scenario selected by management at March 31, 2026 had the national unemployment rate gradually increasing to 4.7% by March 31, 2027, which was the end of our four-quarter forecast time period.
•Forecast and reversion to mean time periods - The forecasted time period and the reversion to mean time period were each four quarters for all of the economic indices at March 31, 2026.
•Prepayment and curtailment assumptions - The assumptions used at March 31, 2026 were generally based on actual historical prepayment and curtailment speeds, adjusted by management as deemed necessary. The prepayment and curtailment assumptions vary for each respective loan pool in the model.
•Qualitative factors - Management applied qualitative factors at March 31, 2026 to account for large dollar commercial real estate loan concentrations and potential risk of loss in market value for newer one-to four-family loans. These qualitative factors were applied to account for credit risks not fully reflected in the discounted cash flow model.
◦The Company's commercial real estate loans generally have low LTVs and strong DSCRs which serve as indicators that losses in the commercial real estate loan portfolio might be unlikely; however, because there is uncertainty surrounding the nature, timing, and amount of expected losses, management believes that in the event of a realized loss within the large dollar commercial real estate loan pool, the magnitude of such a loss could be significant. The large dollar commercial real estate loan concentration qualitative factor addresses the risk associated with large dollar relationships. As part of its analysis, management considered external data including historical commercial real estate price index trending information from a variety of sources to help determine the amount of this qualitative factor.
◦For one- to four-family loans, management believes there is potential risk of loss in market value in an economic downturn related to, in particular, newer originations where property values have not experienced price appreciation, as compared to more seasoned loans in our portfolio, and applied a qualitative factor to account for this risk. To determine the appropriate amount of the one- to four-family loan qualitative factor as of March 31, 2026, management considered external historical home price index trending information, along with historical loan loss experience, and portfolio balance trending, the one-to four-family loan portfolio composition with regard to loan size, and management's knowledge of the Bank's loan portfolio and the one- to four-family lending industry.

Reserve for Off-Balance Sheet Credit Exposures - At March 31, 2026 and September 30, 2025, the Bank's off-balance sheet credit exposures totaled $896.5 million and $821.6 million, respectively.

The following table summarizes the change in reserve for off-balance sheet credit exposures during the periods indicated. The increase in the reserve for off-balance sheet credit exposures as of March 31, 2026 compared to March 31, 2025 was due primarily to an increase in commercial off-balance sheet credit exposures between periods.
For the Three Months Ended For the Six Months Ended
March 31, 2026March 31, 2025March 31, 2026March 31, 2025
(Dollars in thousands)
Beginning balance$6,000 $4,725 $5,546 $6,003 
Provision for credit losses308 913 762 (365)
Ending balance$6,308 $5,638 $6,308 $5,638