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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
INTEREST INCOME        
Loans, including fees $ 5,284 $ 5,262 $ 16,004 $ 15,744
Securities:        
Taxable 996 1,147 3,080 3,400
Tax-exempt 546 445 1,506 1,289
Dividend income 77 58 223 186
Interest-bearing deposits with banks 12 10 35 27
Total interest income 6,915 6,922 20,848 20,646
INTEREST EXPENSE        
Deposits 594 589 1,834 1,799
Repurchase agreements 1 1 3 3
Borrowings from Federal Home Loan Bank 297 233 845 726
Loans payable 41 50 134 155
Total interest expense 933 873 2,816 2,683
Net interest income 5,982 6,049 18,032 17,963
Provision for loan losses 208 300 627 904
Net interest income after provision for loan losses 5,774 5,749 17,405 17,059
NONINTEREST INCOME        
Service charges on deposit accounts 317 322 993 919
Net gain on sales of available for sale securities 0 122 0 123
Net gain on trading account securities 45 210 205 572
Unrealized loss on derivative contract 0 (5) (1) (10)
Net gain on sales of loans 86 72 220 191
Increase in cash surrender value of life insurance 119 133 364 364
Gain on life insurance 831 0 831 0
Commission income 92 77 260 217
Real estate lease income 164 157 465 418
Other income 283 203 789 983
Total noninterest income 1,937 1,291 4,126 3,777
NONINTEREST EXPENSE        
Compensation and benefits 2,989 2,742 8,627 8,451
Occupancy and equipment 675 626 1,931 1,901
Data processing 309 313 1,038 917
Advertising 159 134 412 274
Professional fees 282 310 797 942
FDIC insurance premiums 117 112 341 334
Net (gain) loss on other real estate owned (38) 82 (17) 190
Other operating expenses 704 731 2,318 2,226
Total noninterest expense 5,197 5,050 15,447 15,235
Income before income taxes 2,514 1,990 6,084 5,601
Income tax expense 318 534 1,161 1,581
Net Income 2,196 1,456 4,923 4,020
Preferred stock dividends declared 43 43 129 129
Net Income Available to Common Shareholders $ 2,153 $ 1,413 $ 4,794 $ 3,891
Net income per common share:        
Basic $ 1.00 $ 0.68 $ 2.25 $ 1.83
Diluted $ 0.95 $ 0.64 $ 2.14 $ 1.74
Weighted average common shares outstanding:        
Basic 2,149,931 2,092,938 2,133,557 2,130,599
Diluted 2,259,170 2,201,323 2,240,922 2,237,193
Dividends per common share $ 0.12 $ 0.11 $ 0.35 $ 0.32