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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest and dividend income        
Loans receivable and loans held for sale $ 16,215 $ 12,628 $ 45,622 $ 37,870
Investment securities 2,384 1,016 7,058 2,012
Dividends from mutual funds, FHLB stock and other investments 70 25 185 80
Interest-bearing deposits in banks and CDs 1,220 958 5,524 1,528
Total interest and dividend income 19,889 14,627 58,389 41,490
Interest expense        
Deposits 3,123 645 6,729 1,902
FHLB borrowings 132 0 132 17
Total interest expense 3,255 645 6,861 1,919
Net interest income 16,634 13,982 51,528 39,571
Provision for loan losses 610 0 1,610 0
Net interest income after provision for loan losses 16,024 13,982 49,918 39,571
Non-interest income        
Net recoveries on investment securities 2 5 7 16
Gain on sale of investment securities available for sale, net 95 0 95 0
BOLI net earnings 157 151 470 457
Gain on sales of loans, net 80 258 147 1,337
Valuation recovery on loan servicing rights, net 0 0 0 119
Other, net 209 250 741 687
Total non-interest income, net 2,875 3,102 8,216 9,627
Non-interest expense        
Salaries and employee benefits 5,860 5,243 17,806 15,606
Premises and equipment 1,010 904 2,935 2,814
Gain on sales/dispositions of premises and equipment, net (32) (6) (32) 0
Advertising 179 187 551 513
OREO and other repossessed assets, net 0 (2) 1 (18)
ATM and debit card interchange transaction fees 491 515 1,463 1,429
Postage and courier 128 140 397 440
State and local taxes 297 265 894 754
Professional fees 577 580 1,479 1,173
Federal Deposit Insurance Corporation ("FDIC") insurance 191 123 517 377
Loan administration and foreclosure 126 180 385 380
Data processing and telecommunications 944 698 2,612 1,980
Deposit operations 430 316 1,022 878
Amortization of CDI 68 79 203 237
Other 658 652 2,173 1,909
Total non-interest expense, net 10,927 9,874 32,406 28,472
Income before income taxes 7,972 7,210 25,728 20,726
Provision for income taxes 1,666 1,472 5,252 4,176
     Net income $ 6,306 $ 5,738 $ 20,476 $ 16,550
Net income per common share        
Basic (in dollars per share) $ 0.77 $ 0.69 $ 2.50 $ 1.99
Diluted (in dollars per share) $ 0.77 $ 0.69 $ 2.47 $ 1.97
Weighted average common shares outstanding        
Basic (in shares) 8,156,831 8,279,436 8,203,255 8,324,371
Diluted (in shares) 8,213,975 8,349,859 8,279,079 8,406,977
Deposit Account        
Non-interest income        
Revenue from contract with customer $ 970 $ 1,052 $ 2,810 $ 2,979
Credit and Debit Card        
Non-interest income        
Revenue from contract with customer 1,335 1,345 3,861 3,868
Asset Management        
Non-interest income        
Revenue from contract with customer $ 27 $ 41 $ 85 $ 164