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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Sep. 30, 2020
Cash and cash equivalents:    
Cash and due from financial institutions $ 26,316 $ 21,877
Interest-bearing deposits in banks 553,880 292,575
Total cash and cash equivalents 580,196 314,452
Certificates of deposit (“CDs”) held for investment (at cost, which      approximates fair value) 28,482 65,545
Investment securities held to maturity, at amortized cost (estimated fair value $70,109 and $29,827) 69,102 27,890
Investment securities available for sale, at fair value 63,176 57,907
Investments in equity securities 955 977
Federal Home Loan Bank of Des Moines (“FHLB”) stock 2,103 1,922
Other investments, at cost 3,000 3,000
Loans held for sale 3,217 4,509
Loans receivable, net of allowance for loan losses of $13,469 and $13,414 968,454 1,013,875
Premises and equipment, net 22,367 23,035
Other real estate owned (“OREO”) and other repossessed assets, net 157 1,050
Accrued interest receivable 3,745 4,484
Bank owned life insurance (“BOLI”) 22,193 21,596
Goodwill 15,131 15,131
Core deposit intangible (“CDI”), net 1,264 1,625
Loan servicing rights, net 3,482 3,095
Operating lease right-of-use ("ROU") assets 2,283 2,587
Other assets 2,873 3,298
Total assets 1,792,180 1,565,978
Deposits:    
Non-interest-bearing demand 535,212 441,889
Interest-bearing 1,035,343 916,517
Total deposits 1,570,555 1,358,406
Operating lease liabilities 2,359 2,630
FHLB borrowings 5,000 10,000
Other liabilities and accrued expenses 7,367 7,312
Total liabilities 1,585,281 1,378,348
Commitments and contingencies (See Note 17)
Shareholders’ equity    
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued 0 0
Common stock, $0.01 par value; 50,000,000 shares authorized; 8,355,469 shares issued and outstanding - September 30, 2021 8,310,793 shares issued and outstanding - September 30, 2020 42,673 42,396
Retained earnings 164,167 145,173
Accumulated other comprehensive income 59 61
Total shareholders’ equity 206,899 187,630
Total liabilities and shareholders’ equity $ 1,792,180 $ 1,565,978
Preferred stock par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock shares authorized (in shares) 1,000,000 1,000,000
Common stock par value (in dollars per share) $ 0.01 $ 0.01
Common stock shares authorized (in shares) 50,000,000 50,000,000
Preferred stock shares issued (in shares) 0 0