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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Sep. 30, 2017
Cash and cash equivalents:    
Cash and due from financial institutions $ 20,238 $ 17,447
Interest-bearing deposits in banks 128,626 130,741
Total cash and cash equivalents 148,864 148,188
Certificates of deposit (“CDs”) held for investment (at cost, which approximates fair value) 63,290 43,034
Investment securities held to maturity, at amortized cost (estimated fair value $13,264 and $7,744) 12,810 7,139
Investment securities available for sale, at fair value 1,154 1,241
Federal Home Loan Bank of Des Moines (“FHLB”) stock 1,190 1,107
Other investments, at cost 3,000 3,000
Loans held for sale 1,785 3,599
Loans receivable, net of allowance for loans losses of $9,530 and $9,553 725,391 690,364
Premises and equipment, net 18,953 18,418
Other real estate owned (“OREO”) and other repossessed assets, net 1,913 3,301
Accrued interest receivable 2,877 2,520
Bank owned life insurance (“BOLI”) 19,813 19,266
Goodwill 5,650 5,650
Mortgage servicing rights (“MSRs”), net 2,028 1,825
Escrow deposit for business combination 6,900 0
Other assets 2,672 3,372
Total assets 1,018,290 952,024
Deposits:    
Non-interest-bearing demand 233,258 205,952
Interest-bearing 656,248 631,946
Total deposits 889,506 837,898
Other liabilities and accrued expenses 4,127 3,126
Total liabilities 893,633 841,024
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; 7,401,177 shares issued and outstanding - September 30, 2018 7,361,077 shares issued and outstanding - September 30, 2017 14,394 13,286
Unearned shares issued to Employee Stock Ownership Plan (“ESOP”) (133) (397)
Retained earnings 110,525 98,235
Accumulated other comprehensive loss (129) (124)
Total shareholders’ equity 124,657 111,000
Total liabilities and shareholders’ equity $ 1,018,290 $ 952,024