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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2018
Sep. 30, 2017
Cash and cash equivalents:    
Cash and due from financial institutions $ 15,508 $ 17,447 [1]
Interest-bearing deposits in banks 153,897 130,741 [1]
Total cash and cash equivalents 169,405 148,188 [1]
Certificates of deposit (“CDs”) held for investment (at cost, which approximates fair value) 52,938 43,034 [1]
Investment securities held to maturity, at amortized cost (estimated fair value $8,553 and $7,744) 8,070 7,139 [1]
Investment securities available for sale, at fair value 1,193 1,241 [1]
Federal Home Loan Bank of Des Moines (“FHLB”) stock 1,107 1,107 [1]
Other investments, at cost 3,000 3,000 [1]
Loans held for sale 3,981 3,599 [1]
Loans receivable, net of allowance for loan losses of $9,544 and $9,553 708,568 690,364 [1]
Premises and equipment, net 18,053 18,418 [1]
Other real estate owned (“OREO”) and other repossessed assets, net 2,221 3,301 [1]
Accrued interest receivable 2,655 2,520 [1]
Bank owned life insurance (“BOLI”) 19,539 19,266 [1]
Goodwill 5,650 5,650 [1]
Mortgage servicing rights (“MSRs”), net 1,910 1,825 [1]
Other assets 2,911 3,372 [1]
Total assets 1,001,201 952,024 [1]
Deposits:    
Non-interest-bearing demand 222,302 205,952 [1]
Interest-bearing 658,109 631,946 [1]
Total deposits 880,411 837,898 [1]
Other liabilities and accrued expenses 2,947 3,126 [1]
Total liabilities 883,358 841,024 [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; 7,390,227 shares issued and outstanding - March 31, 2018 7,361,077 shares issued and outstanding - September 30, 2017 13,891 13,286 [2]
Unearned shares issued to Employee Stock Ownership Plan (“ESOP”) (265) (397) [2]
Retained earnings 104,349 98,235 [2]
Accumulated other comprehensive loss (132) (124) [2]
Total shareholders’ equity 117,843 111,000 [2]
Total liabilities and shareholders’ equity $ 1,001,201 $ 952,024 [2]
[1] Derived from audited consolidated financial statements.
[2] Derived from audited consolidated financial statements.