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Condensed Financial Information - Parent Company Only
 12 Months Ended
Sep. 30, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Financial Information - Parent Company Only
Condensed Financial Information - Parent Company Only

Condensed Balance Sheets - September 30, 2018 and 2017
(dollars in thousands)
 
2018

 
2017

Assets
 
 
 
Cash and cash equivalents:
 
 
 
Cash and due from financial institutions
$
306

 
$
485

Interest-bearing deposits in banks
2,588

 
1,797

      Total cash and cash equivalents
2,894

 
2,282

 
 
 
 
Loan receivable from ESOP
285

 
821

Investment in Bank
121,818

 
107,957

Other assets
15

 
14

Total assets
$
125,012

 
$
111,074

 
 
 
 
Liabilities and shareholders’ equity
 

 
 

Accrued expenses
$
355

 
$
74

Shareholders’ equity
124,657

 
111,000

Total liabilities and shareholders’ equity
$
125,012

 
$
111,074



Condensed Statements of Income - Years Ended September 30, 2018, 2017 and 2016
(dollars in thousands)
 
2018

 
2017

 
2016

Operating income
 
 
 
 
 
Interest on deposits in banks
$
37

 
$
27

 
$
3

Interest on loan receivable from ESOP
53

 
96

 
136

Dividends from Bank
4,429

 
1,390

 
3,039

Total operating income
4,519

 
1,513

 
3,178

 
 
 
 
 
 
Operating expenses
591

 
467

 
430

 
 
 
 
 
 
Income before income taxes and equity in undistributed
    income of Bank
3,928

 
1,046

 
2,748

Benefit for income taxes
(198
)
 
(385
)
 
(183
)
 
 
 
 
 
 
Income before undistributed income of Bank
4,126

 
1,431

 
2,931

 
 
 
 
 
 
Equity in undistributed income of Bank
    
12,595

 
12,736

 
7,223

Net income
$
16,721

 
$
14,167

 
$
10,154


Condensed Statements of Cash Flows - Years Ended September 30, 2018, 2017 and 2016
(dollars in thousands)
 
2018

 
2017

 
2016

Cash flows from operating activities
 
 
 
 
 
Net income
$
16,721

 
$
14,167

 
$
10,154

  Adjustments to reconcile net income to net cash provided by operating activities:
   
 

 
 

 
 

   Equity in undistributed income of Bank
(12,595
)
 
(12,736
)
 
(7,223
)
Earned ESOP shares
882

 
605

 
404

Stock option compensation expense
172

 
156

 
190

Other, net
280

 
33

 
(65
)
Net cash provided by operating activities
5,460

 
2,225

 
3,460

 
 
 
 
 
 
Cash flows from investing activities
 

 
 

 
 

Investment in Bank
(1,271
)
 
(930
)
 
(616
)
Principal repayments on loan receivable from ESOP
536

 
493

 
452

Net cash used in investing activities
(735
)
 
(437
)
 
(164
)
 
 
 
 
 
 
Cash flows from financing activities
 

 
 

 
 

Proceeds from exercise of stock options
318

 
332

 
159

Proceeds from exercise of stock warrant
—

 
2,496

 
—

Repurchase of common stock
—

 
—

 
(820
)
Payment of dividends
(4,431
)
 
(3,641
)
 
(2,578
)
Net cash used in financing activities
(4,113
)
 
(813
)
 
(3,239
)
 
 
 
 
 
 
Net increase in cash and cash equivalents
612

 
975

 
57

 
 
 
 
 
 
Cash and cash equivalents
 

 
 

 
 

Beginning of period
2,282

 
1,307

 
1,250

End of period
$
2,894

 
$
2,282

 
$
1,307