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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
INTEREST INCOME        
Loans $ 15,842 $ 11,798 $ 47,972 $ 30,189
Taxable securities 98 168 358 523
Other interest income 319 72 486 203
Total interest income 16,259 12,038 48,816 30,915
INTEREST EXPENSE        
Savings, NOW and money market deposits 579 269 1,290 543
Time deposits 427 760 1,319 3,129
Borrowings 433 561 1,374 1,666
Total interest expense 1,439 1,590 3,983 5,338
Net interest income 14,820 10,448 44,833 25,577
Provision for loan losses 1,000   2,400 300
Net interest income after provision for loan losses 13,820 10,448 42,433 25,277
NON-INTEREST INCOME        
Loan servicing and fee income 779 401 2,203 623
Service charges on deposit accounts 60 34 169 66
Gain on sale of loans held-for-sale 849 212 3,916 688
Gain on sale of investments available for sale     105 240
Other income 140 3 483 11
Total non-interest income 1,828 650 6,876 1,628
NON-INTEREST EXPENSE        
Salaries and employee benefits 4,843 3,923 15,400 10,299
Occupancy and equipment 1,394 1,300 4,177 3,680
Data processing 374 419 1,133 934
Advertising and promotion 112 18 298 85
Acquisition costs 250 3,937 250 4,233
Professional fees 579 369 1,718 1,089
Other expenses 1,178 766 3,376 1,727
Total non-interest expense 8,730 10,732 26,352 22,047
Income before income tax expense 6,918 366 22,957 4,858
Income tax expense 1,585 145 5,227 1,063
NET INCOME $ 5,333 $ 221 $ 17,730 $ 3,795
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) $ 0.81 $ 0.05 $ 2.97 $ 0.87
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) $ 0.80 $ 0.05 $ 2.92 $ 0.85