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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income $ 20,476 $ 16,550
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 1,610 0
Depreciation 1,022 1,035
Deferred income taxes/(benefits) (77) 223
Accretion of discount on purchased loans (64) (154)
Amortization of CDI 203 237
Stock option compensation expense 235 204
Gain on sale of investment securities available for sale, net (95) 0
Net recoveries on investment securities (7) (16)
Change in fair value of investments in equity securities (2) 83
Amortization (accretion) of discounts and premiums on securities (922) 123
Gain on sales of OREO and other repossessed assets, net 0 (1)
Gain on sales of loans, net (147) (1,337)
Gain on sales/dispositions of premises and equipment, net (32) 0
Loans originated for sale (6,062) (47,199)
Proceeds from sales of loans 6,957 51,053
Amortization of loan servicing rights 769 879
Valuation recovery on loan servicing rights, net 0 (119)
BOLI net earnings (470) (457)
Increase (decrease) in deferred loan origination fees 636 (1,192)
Net change in accrued interest receivable and other assets, and other liabilities and accrued expenses (800) (1,521)
Net cash provided by operating activities 23,230 18,391
Cash flows from investing activities    
Net decrease in CDs held for investment 5,963 4,594
Proceeds from sale of investment securities available for sale 8,929 0
Purchase of investment securities held to maturity (15,601) (167,671)
Purchase of investment securities available for sale (16,994) 0
Proceeds from maturities and prepayments of investment securities held to maturity 8,000 8,737
Proceeds from maturities and prepayments of investment securities available for sale 5,784 16,977
Purchase of FHLB stock (608) (91)
Increase in loans receivable, net (130,403) (118,167)
Purchases of premises and equipment (711) (822)
Proceeds from sales of premises and equipment 45 0
Proceeds from sales of OREO and other repossessed assets 0 158
Net cash used in investing activities (135,596) (256,285)
Cash flows from financing activities    
Net increase (decrease) in deposits (79,446) 93,559
Proceeds from (repayments of) FHLB borrowings 15,000  
Proceeds from (repayments of) FHLB borrowings   (5,000)
Proceeds from exercise of stock options 534 359
Repurchase of common stock (4,119) (3,651)
Payment of dividends (6,405) (5,418)
Net cash provided by (used in) financing activities (74,436) 79,849
Net decrease in cash and cash equivalents (186,802) (158,045)
Beginning of period 316,755 580,196
End of period 129,953 422,151
Supplemental disclosure of cash flow information    
Income taxes paid 6,268 3,642
Interest paid 6,088 1,955
Supplemental disclosure of non-cash investing activities    
Other comprehensive loss related to investment securities (27) (624)
Operating lease liabilities arising from recording of ROU assets $ 71 $ 0