| INVESTMENT SECURITIES |
NOTE 5: INVESTMENT SECURITIES The amortized cost of debt securities and their approximate fair value at June 30, 2026 (unaudited) is represented in the table below: | | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | Amortized | | Unrealized | | Unrealized | | Fair | | | Cost | | Gains | | Losses | | Value | | | | (unaudited) (In Thousands) | AVAILABLE FOR SALE | | | | | | | | | | | | | U.S. Government Treasuries | | $ | — | | $ | — | | $ | — | | $ | — | U.S. Government Agencies | | | 4,320 | | | 1 | | | (31) | | | 4,290 | Mortgaged-Backed Securities | | | 11,917 | | | 9 | | | (455) | | | 11,471 | Municipal Securities | | | 20,238 | | | 72 | | | (1,881) | | | 18,429 | SBA Securities | | | 1,022 | | | 1 | | | (19) | | | 1,004 | | | $ | 37,497 | | $ | 83 | | $ | (2,386) | | $ | 35,194 |
The amortized cost of debt securities and their approximate fair value at September 30, 2025 is represented in the table below. | | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | Amortized | | Unrealized | | Unrealized | | Fair | | | Cost | | Gains | | Losses | | Value | AVAILABLE FOR SALE | | | | | | | | | | | | | U.S. Government Treasuries | | $ | 2,415 | | $ | 1 | | $ | — | | $ | 2,416 | U.S. Government Agencies | | | 6,712 | | | 23 | | | (1) | | | 6,734 | Mortgaged-Backed Securities | | | 11,433 | | | 41 | | | (355) | | | 11,119 | Municipal Securities | | | 21,282 | | | 74 | | | (2,243) | | | 19,113 | SBA Securities | | | 1,543 | | | 8 | | | (2) | | | 1,549 | | | $ | 43,385 | | $ | 147 | | $ | (2,601) | | $ | 40,931 |
The amortized cost and fair value of debt securities, by contractual maturity, at June 30, 2026 (unaudited) is as shown below. Expected maturities will differ from contractual maturities call or prepay obligations with or without call or prepayment penalties. | | | | | | | | | Debt Securities | | | Available-for-Sale | | | Amortized | | | | | | Cost | | Fair Value | | | | | (In Thousands) | Due Within One Year | | $ | 2,252 | | $ | 2,252 | Due After One Year Through Five Years | | | 2,397 | | | 2,376 | Due After Five Years Through Ten Years | | | 8,241 | | | 7,871 | Due After Ten Years | | | 11,668 | | | 10,220 | | | | 24,558 | | | 22,719 | Mortgage-Backed & SBA Securities with no set maturity | | | 12,939 | | | 12,475 | | | $ | 37,497 | | $ | 35,194 |
The realized gains and losses from the sale of available-for-sale investments for the three and nine-month periods ended June 30, 2026 and 2025 (unaudited) is as shown below. | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | (unaudited) | | | (In Thousands) | | | | | | | | | | | | | | Proceeds | | $ | — | | $ | — | | $ | 1,711 | | $ | — | Cost | | | — | | | — | | | (1,709) | | | — | Net Realized Gains | | $ | — | | $ | — | | $ | 2 | | $ | — | Gross Realized Gains | | $ | — | | $ | — | | $ | 2 | | $ | — | Gross Realized Losses | | | — | | | — | | | — | | | — | Net Realized Gains | | $ | — | | $ | — | | $ | 2 | | $ | — |
Information pertaining to securities with gross unrealized losses at June 30, 2026 (unaudited), aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows: | | | | | | | | | | | | | | | | | | | | | Less than Twelve months | | Over Twelve Months | | Total | | | Gross | | | | | Gross | | | | | Gross | | | | | | Unrealized | | | | | Unrealized | | | | | Unrealized | | | | | | Losses | | Fair Value | | Losses | | Fair Value | | Losses | | Fair Value | | | | (In Thousands) | June 30, 2026 | | | | | | | | | | | | | | | Securities Available-for-Sale: | | | | | | | | | | | | | | | | | | | US Government Treasuries & Agencies | | $ | 31 | | $ | 3,579 | | $ | — | | $ | — | | $ | 31 | | $ | 3,579 | Mortgage-backed & SBA Securities | | | 108 | | | 5,630 | | | 366 | | | 4,802 | | | 474 | | | 10,432 | Municipal Securities | | | 13 | | | 1,851 | | | 1,868 | | | 9,214 | | | 1,881 | | | 11,065 | | | $ | 152 | | $ | 11,060 | | $ | 2,234 | | $ | 14,016 | | $ | 2,386 | | $ | 25,076 |
Information pertaining to securities with gross unrealized losses at September 30, 2025 aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows: | | | | | | | | | | | | | | | | | | | | | Less than Twelve months | | Over Twelve Months | | Total | | | Gross | | | | | Gross | | | | | Gross | | | | | | Unrealized | | | | | Unrealized | | | | | Unrealized | | | | | | Losses | | Fair Value | | Losses | | Fair Value | | Losses | | Fair Value | | | | (In Thousands) | September 30, 2025 | | | | | | | | | | | | | | | | | | | Securities Available-for-Sale: | | | | | | | | | | | | | | | | | | | US Government Treasuries & Agencies | | $ | 1 | | $ | 1,370 | | $ | — | | $ | 994 | | $ | 1 | | $ | 2,364 | Mortgage-backed & SBA Securities | | | 91 | | | 4,559 | | | 266 | | | 3,237 | | | 357 | | | 7,796 | Municipal Securities | | | 68 | | | 2,568 | | | 2,175 | | | 9,130 | | | 2,243 | | | 11,698 | | | $ | 160 | | $ | 8,497 | | $ | 2,441 | | $ | 13,361 | | $ | 2,601 | | $ | 21,858 |
Management believes the unrealized losses primarily reflect changes in interest rates subsequent to the acquisition of specific securities. The Company had 39 and 26 securities in an unrealized loss position of less than twelve months at June 30, 2026 and September 30, 2025, respectively, and 67 and 66 securities in an unrealized loss position of 12 months or more at June 30, 2026 and September 30, 2025, respectively. The Company has the intent and the ability to hold such securities until maturity or market price recovery. Management believes that the unrealized losses do not represent credit impairment of the securities and therefore no allowance for credit loss has been recorded as of June 30, 2026 or September 30, 2025.
|