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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Sep. 30, 2022
Cash and cash equivalents:    
Cash and due from financial institutions $ 28,308 $ 24,808 [1]
Interest-bearing deposits in banks 101,645 291,947 [1]
Total cash and cash equivalents 129,953 316,755 [1]
Certificates of deposit (“CDs”) held for investment (at cost, which      approximates fair value) 16,931 22,894 [1]
Investment securities held to maturity, at amortized cost (estimated fair value of $260,471 and $249,783) 275,053 266,608 [1]
Investment securities available for sale, at fair value 43,842 41,415 [1]
Investments in equity securities, at fair value 837 835
Federal Home Loan Bank of Des Moines (“FHLB”) stock, at cost 2,802 2,194 [1]
Other investments, at cost 3,000 3,000 [1]
Loans held for sale 0 748 [1]
Loans receivable, net of allowance for loan losses of $15,307 and $13,703 1,260,647 1,132,426 [1]
Premises and equipment, net 21,574 21,898 [1]
Accrued interest receivable 5,451 4,483 [1]
Bank owned life insurance (“BOLI”) 23,276 22,806 [1]
Goodwill 15,131 15,131 [1]
Core deposit intangible (“CDI”), net 745 948
Loan servicing rights, net 2,321 3,023 [1]
Operating lease right-of-use ("ROU") assets 1,845 1,980 [1]
Other assets 4,305 3,364 [1]
Total assets 1,807,713 1,860,508 [1]
Deposits:    
Non-interest-bearing demand 452,729 530,058 [1]
Interest-bearing 1,100,001 1,102,118 [1]
Total deposits 1,552,730 1,632,176 [1]
FHLB borrowings 15,000 0 [1]
Operating lease liabilities 1,939 2,066
Other liabilities and accrued expenses 8,781 7,697 [1]
Total liabilities 1,578,450 1,641,939 [1]
Shareholders’ equity    
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued 0 0 [2]
Common stock, $0.01 par value; 50,000,000 shares authorized; 8,094,174 shares issued and outstanding - June 30, 2023 8,221,952 shares issued and outstanding - September 30, 2022 35,401 38,751 [2]
Retained earnings 194,606 180,535 [2]
Accumulated other comprehensive loss (744) (717) [2]
Total shareholders’ equity 229,263 218,569 [2]
Total liabilities and shareholders’ equity $ 1,807,713 $ 1,860,508 [2]
[1] Derived from audited consolidated financial statements.
[2] Derived from audited consolidated financial statements.