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Consolidated Statements of Income - USD ($)
3 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Interest and dividend income    
Loans receivable and loans held for sale $ 14,457,000 $ 12,622,000
Investment securities 2,214,000 405,000
Dividends from mutual funds, FHLB stock and other investments 51,000 27,000
Interest-bearing deposits in banks and CDs 2,390,000 288,000
Total interest and dividend income 19,112,000 13,342,000
Interest expense    
Deposits 1,369,000 631,000
FHLB borrowings 0 15,000
Total interest expense 1,369,000 646,000
Net interest income 17,743,000 12,696,000
Provision for loan losses 525,000 0
Net interest income after provision for loan losses 17,218,000 12,696,000
Non-interest income    
Net recoveries on investment securities 3,000 8,000
BOLI net earnings 156,000 154,000
Gain on sales of loans, net 21,000 663,000
Valuation recovery on loan servicing rights, net 0 119,000
Other, net 297,000 230,000
Total non-interest income, net 2,705,000 3,442,000
Non-interest expense    
Salaries and employee benefits 5,900,000 5,171,000
Premises and equipment 924,000 928,000
Advertising 195,000 166,000
OREO and other repossessed assets, net 0 (18,000)
ATM and debit card interchange transaction fees 483,000 464,000
Postage and courier 121,000 136,000
State and local taxes 299,000 255,000
Professional fees 429,000 271,000
Federal Deposit Insurance Corporation ("FDIC") insurance 124,000 128,000
Loan administration and foreclosure 120,000 104,000
Data processing and telecommunications 789,000 613,000
Deposit operations 346,000 299,000
Amortization of CDI 68,000 79,000
Other 737,000 668,000
Total non-interest expense, net 10,535,000 9,264,000
Income before income taxes 9,388,000 6,874,000
Provision for income taxes 1,881,000 1,389,000
     Net income $ 7,507,000 $ 5,485,000
Net income per common share    
Basic (in dollars per share) $ 0.91 $ 0.66
Diluted (in dollars per share) $ 0.90 $ 0.65
Weighted average common shares outstanding    
Basic (in shares) 8,232,273 8,356,066
Diluted (in shares) 8,318,733 8,448,900
Deposit Account    
Non-interest income    
Revenue from contract with customer $ 947,000 $ 913,000
Credit and Debit Card    
Non-interest income    
Revenue from contract with customer 1,251,000 1,277,000
Asset Management    
Non-interest income    
Revenue from contract with customer $ 30,000 $ 78,000