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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2016
Sep. 30, 2015
Cash and cash equivalents:    
Cash and due from financial institutions $ 16,686 $ 14,014
Interest-bearing deposits in banks 92,255 78,275
Total cash and cash equivalents 108,941 92,289
Certificates of deposit (“CDs”) held for investment (at cost, which approximates fair value) 53,000 48,611
Investment securities held to maturity, at amortized cost (estimated fair value $8,395 and $8,894) 7,511 7,913
Investment securities available for sale 1,342 1,392
Federal Home Loan Bank of Des Moines (“FHLB”) stock 2,204 2,699
Loans held for sale 3,604 3,051
Loans receivable, net of allowance for loans losses of $9,826 and $9,924 663,146 604,277
Premises and equipment, net 16,159 16,854
Other real estate owned (“OREO”) and other repossessed assets, net 4,117 7,854
Accrued interest receivable 2,348 2,170
Bank owned life insurance (“BOLI”) 18,721 18,170
Goodwill 5,650 5,650
Mortgage servicing rights (“MSRs”), net 1,573 1,478
Other assets 3,072 3,407
Total assets 891,388 815,815
Deposits:    
Non-interest-bearing demand 172,283 141,388
Interest-bearing 589,251 537,524
Total deposits 761,534 678,912
FHLB borrowings 30,000 45,000
Other liabilities and accrued expenses 3,020 2,716
Total liabilities 794,554 726,628
Commitments and contingencies (See Note 14)
Shareholders’ equity    
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued 0 0
Common stock, $0.01 par value; 50,000,000 shares authorized; 6,943,868 shares issued and outstanding - September 30, 2016 6,988,848 shares issued and outstanding - September 30, 2015 9,961 10,293
Unearned shares issued to Employee Stock Ownership Plan (“ESOP”) (661) (926)
Retained earnings 87,709 80,133
Accumulated other comprehensive loss (175) (313)
Total shareholders’ equity 96,834 89,187
Total liabilities and shareholders’ equity $ 891,388 $ 815,815