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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Interest and dividend income        
Loans receivable and loans held for sale $ 14,950 $ 12,620 $ 29,407 $ 25,242
Investment securities 2,460 590 4,674 996
Dividends from mutual funds, FHLB stock and other investments 64 27 115 54
Interest-bearing deposits in banks and CDs 1,913 283 4,304 571
Total interest and dividend income 19,387 13,520 38,500 26,863
Interest expense        
Deposits 2,236 625 3,606 1,257
FHLB borrowings 0 2 0 17
Total interest expense 2,236 627 3,606 1,274
Net interest income 17,151 12,893 34,894 25,589
Provision for loan losses 475 0 1,000 0
Net interest income after provision for loan losses 16,676 12,893 33,894 25,589
Non-interest income        
Net recoveries on investment securities 2 3 5 11
BOLI net earnings 157 152 313 305
Gain on sales of loans, net 46 416 67 1,079
Valuation recovery on loan servicing rights, net 0 0 0 119
Other, net 234 207 531 438
Total non-interest income, net 2,636 3,083 5,341 6,525
Non-interest expense        
Salaries and employee benefits 6,046 5,192 11,946 10,363
Premises and equipment 1,001 988 1,925 1,916
Advertising 178 161 372 327
OREO and other repossessed assets, net 0 2 0 (16)
ATM and debit card interchange transaction fees 489 450 972 914
Postage and courier 147 164 268 300
State and local taxes 298 235 597 489
Professional fees 473 322 902 593
Federal Deposit Insurance Corporation ("FDIC") insurance 202 126 326 254
Loan administration and foreclosure 138 96 259 200
Data processing and telecommunications 880 669 1,668 1,282
Deposit operations 246 262 592 561
Amortization of CDI 67 79 135 158
Other 779 587 1,517 1,256
Total non-interest expense, net 10,944 9,333 21,479 18,597
Income before income taxes 8,368 6,643 17,756 13,517
Provision for income taxes 1,705 1,316 3,587 2,705
     Net income $ 6,663 $ 5,327 $ 14,169 $ 10,812
Net income per common share        
Basic (in dollars per share) $ 0.81 $ 0.64 $ 1.72 $ 1.30
Diluted (in dollars per share) $ 0.80 $ 0.63 $ 1.70 $ 1.28
Weighted average common shares outstanding        
Basic (in shares) 8,220,532 8,337,407 8,226,467 8,346,839
Diluted (in shares) 8,304,370 8,421,875 8,311,630 8,435,536
Deposit Account        
Non-interest income        
Revenue from contract with customer $ 893 $ 1,014 $ 1,840 $ 1,927
Credit and Debit Card        
Non-interest income        
Revenue from contract with customer 1,275 1,247 2,526 2,523
Asset Management        
Non-interest income        
Revenue from contract with customer $ 29 $ 44 $ 59 $ 123