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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities    
Net income $ 7,507 $ 5,485
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 525 0
Depreciation 338 358
Deferred income taxes 0 266
Accretion of discount on purchased loans (28) (57)
Amortization of CDI 68 79
Stock option compensation expense 78 66
Net recoveries on investment securities (3) (8)
Change in fair value of investments in equity securities (2) 9
Amortization (accretion) of discounts and premiums on securities (298) 101
Gain on sales of loans, net (21) (663)
Loans originated for sale (389) (22,379)
Proceeds from sales of loans 1,158 22,559
Amortization of loan servicing rights 263 299
Valuation recovery on loan servicing rights, net 0 (119)
BOLI net earnings (156) (154)
Increase (decrease) in deferred loan origination fees 211 (604)
Net change in accrued interest receivable and other assets, and other liabilities and accrued expenses 170 (978)
Net cash provided by operating activities 9,421 4,260
Cash flows from investing activities    
Net (increase) decrease in CDs held for investment (498) 3,834
Purchase of investment securities held to maturity (14,317) (48,486)
Purchase of investment securities available for sale (16,993) 0
Proceeds from maturities and prepayments of investment securities held to maturity 2,626 2,995
Proceeds from maturities and prepayments of investment securities available for sale 2,559 6,502
Increase in loans receivable, net (40,841) (24,892)
Purchases of premises and equipment (143) (99)
Net cash used in investing activities (67,607) (60,146)
Cash flows from financing activities    
Net increase (decrease) in deposits (31,086) 36,076
Proceeds from exercise of stock options 397 130
Repurchase of common stock (348) (433)
Payment of dividends (2,636) (1,755)
Net cash provided by (used in) financing activities (33,673) 34,018
Net decrease in cash and cash equivalents (91,859) (21,868)
Beginning of period 316,755 580,196
End of period 224,896 558,328
Supplemental disclosure of cash flow information    
Interest paid 1,180 656
Supplemental disclosure of non-cash investing activities    
Other comprehensive loss related to investment securities $ (18) $ (17)