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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Sep. 30, 2016
Cash and cash equivalents:    
Cash and due from financial institutions $ 17,476 $ 16,686 [1]
Interest-bearing deposits in banks 114,964 92,255 [1]
Total cash and cash equivalents 132,440 108,941 [1]
Certificates of deposit (“CDs”) held for investment (at cost, which approximates fair value) 41,187 53,000 [1]
Investment securities held to maturity, at amortized cost (estimated fair value $7,912 and $8,395) 7,244 7,511 [1]
Investment securities available for sale, at fair value 1,260 1,342 [1]
Federal Home Loan Bank of Des Moines (“FHLB”) stock 1,107 2,204 [1]
Other investments, at cost 3,000 0 [1]
Loans held for sale 3,523 3,604 [1]
Loans receivable, net of allowance for loan losses of $9,610 and $9,826 687,158 663,146 [1]
Premises and equipment, net 18,465 16,159 [1]
Other real estate owned (“OREO”) and other repossessed assets, net 3,417 4,117 [1]
Accrued interest receivable 2,437 2,348 [1]
Bank owned life insurance (“BOLI”) 19,127 18,721 [1]
Goodwill 5,650 5,650 [1]
Mortgage servicing rights (“MSRs”), net 1,781 1,573 [1]
Other assets 3,213 3,072 [1]
Total assets 931,009 891,388 [1]
Deposits:    
Non-interest-bearing demand 197,527 172,283 [1]
Interest-bearing 621,291 589,251 [1]
Total deposits 818,818 761,534 [1]
FHLB borrowings 0 30,000 [1]
Other liabilities and accrued expenses 3,575 3,020 [1]
Total liabilities 822,393 794,554 [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; 7,354,577 shares issued and outstanding - June 30, 2017 6,943,868 shares issued and outstanding - September 30, 2016 13,223 9,961 [2]
Unearned shares issued to Employee Stock Ownership Plan (“ESOP”) (463) (661) [2]
Retained earnings 96,018 87,709 [2]
Accumulated other comprehensive loss (162) (175) [2]
Total shareholders’ equity 108,616 96,834 [2]
Total liabilities and shareholders’ equity $ 931,009 $ 891,388 [2]
[1] Derived from audited consolidated financial statements.
[2] Derived from audited consolidated financial statements.