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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Sep. 30, 2016
Cash and cash equivalents:    
Cash and due from financial institutions $ 17,060 $ 16,686 [1]
Interest-bearing deposits in banks 130,980 92,255 [1]
Total cash and cash equivalents 148,040 108,941 [1]
Certificates of deposit (“CDs”) held for investment (at cost, which approximates fair value) 52,934 53,000 [1]
Investment securities held to maturity, at amortized cost (estimated fair value $8,045 and $8,395) 7,326 7,511 [1]
Investment securities available for sale, at fair value 1,272 1,342 [1]
Federal Home Loan Bank of Des Moines (“FHLB”) stock 2,307 2,204 [1]
Loans held for sale 5,798 3,604 [1]
Loans receivable, net of allowance for loan losses of $9,590 and $9,826 676,079 663,146 [1]
Premises and equipment, net 18,013 16,159 [1]
Other real estate owned (“OREO”) and other repossessed assets, net 3,005 4,117 [1]
Accrued interest receivable 2,443 2,348 [1]
Bank owned life insurance (“BOLI”) 18,994 18,721 [1]
Goodwill 5,650 5,650 [1]
Mortgage servicing rights (“MSRs”), net 1,710 1,573 [1]
Other assets 3,111 3,072 [1]
Total assets 946,682 891,388 [1]
Deposits:    
Non-interest-bearing demand 186,239 172,283 [1]
Interest-bearing 622,613 589,251 [1]
Total deposits 808,852 761,534 [1]
FHLB borrowings 30,000 30,000 [1]
Other liabilities and accrued expenses 3,001 3,020 [1]
Total liabilities 841,853 794,554 [1]
Shareholders’ equity    
Preferred stock, $.01 par value; 1,000,000 shares authorized; none issued 0 0 [2]
Common stock, $.01 par value; 50,000,000 shares authorized; 7,345,477 shares issued and outstanding - March 31, 2017 6,943,868 shares issued and outstanding - September 30, 2016 12,986 9,961 [2]
Unearned shares issued to Employee Stock Ownership Plan (“ESOP”) (529) (661) [2]
Retained earnings 92,550 87,709 [2]
Accumulated other comprehensive loss (178) (175) [2]
Total shareholders’ equity 104,829 96,834 [2]
Total liabilities and shareholders’ equity $ 946,682 $ 891,388 [2]
[1] Derived from audited consolidated financial statements.
[2] Derived from audited consolidated financial statements.