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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
INTEREST INCOME        
Loans, including fees $ 6,908 $ 5,794 $ 19,781 $ 16,805
Securities:        
Taxable 880 916 2,691 2,843
Tax-exempt 754 613 2,082 1,732
Dividend income 79 77 235 231
Interest-bearing deposits with banks 43 22 105 84
Total interest income 8,664 7,422 24,894 21,695
INTEREST EXPENSE        
Deposits 689 690 1,930 1,869
Federal funds purchased 14 0 21 0
Repurchase agreements 1 0 3 2
Borrowings from Federal Home Loan Bank 428 384 1,232 1,119
Loans payable 0 41 0 121
Total interest expense 1,132 1,115 3,186 3,111
Net interest income 7,532 6,307 21,708 18,584
Provision for loan losses 321 303 1,002 428
Net interest income after provision for loan losses 7,211 6,004 20,706 18,156
NONINTEREST INCOME        
Service charges on deposit accounts 329 289 971 893
Net gain on sales of available for sale securities 30 0 30 0
Net gain on trading account securities 184 285 113 713
Net gain on sales of loans, residential mortgage 104 76 342 313
Net gain on sales of loans, Small Business Administration 938 423 2,741 513
Increase in cash surrender value of life insurance 105 111 318 338
Gain on life insurance 0 0 189 0
Commission income 78 69 283 282
Real estate lease income 0 170 0 496
Net gain on sale of premises and equipment 7 0 30 0
Loss on tax credit investment 0 (4,309) (226) (4,309)
Other income 348 310 1,068 891
Total noninterest income 2,123 (2,576) 5,859 130
NONINTEREST EXPENSE        
Compensation and benefits 3,837 3,215 11,035 9,583
Occupancy and equipment 699 670 1,990 2,043
Data processing 329 442 1,031 1,209
Advertising 126 131 363 366
Professional fees 419 279 919 890
FDIC insurance premiums 113 116 342 359
Net (gain) loss on other real estate owned (14) 9 (123) 59
Other operating expenses 796 728 2,354 2,205
Total noninterest expense 6,305 5,590 17,911 16,714
Income (loss) before income taxes 3,029 (2,162) 8,654 1,572
Income tax (benefit) expense 586 (4,389) 1,680 (3,533)
Net Income 2,443 2,227 6,974 5,105
Preferred stock dividends declared 0 0 0 62
Net Income Available to Common Shareholders $ 2,443 $ 2,227 $ 6,974 $ 5,043
Net income per common share:        
Basic $ 1.10 $ 1.01 $ 3.15 $ 2.3
Diluted $ 1.04 $ 0.97 $ 2.98 $ 2.19
Weighted average common shares outstanding:        
Basic 2,225,189 2,204,787 2,217,033 2,197,101
Diluted 2,351,739 2,306,029 2,340,688 2,300,834
Dividends per common share $ 0.14 $ 0.13 $ 0.41 $ 0.38