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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2018
Sep. 30, 2017
Cash and cash equivalents:    
Cash and due from financial institutions $ 19,552 $ 17,447 [1]
Interest-bearing deposits in banks 137,274 130,741 [1]
Total cash and cash equivalents 156,826 148,188 [1]
Certificates of deposit (“CDs”) held for investment (at cost, which approximates fair value) 63,132 43,034 [1]
Investment securities held to maturity, at amortized cost (estimated fair value $8,440 and $7,744) 7,951 7,139 [1]
Investment securities available for sale, at fair value 1,176 1,241 [1]
Federal Home Loan Bank of Des Moines (“FHLB”) stock 1,190 1,107 [1]
Other investments, at cost 3,000 3,000 [1]
Loans held for sale 2,321 3,599 [1]
Loans receivable, net of allowance for loan losses of $9,532 and $9,553 717,324 690,364 [1]
Premises and equipment, net 18,515 18,418 [1]
Other real estate owned (“OREO”) and other repossessed assets, net 2,112 3,301 [1]
Accrued interest receivable 2,797 2,520 [1]
Bank owned life insurance (“BOLI”) 19,673 19,266 [1]
Goodwill 5,650 5,650 [1]
Mortgage servicing rights (“MSRs”), net 1,980 1,825 [1]
Other assets 2,736 3,372 [1]
Total assets 1,006,383 952,024 [1]
Deposits:    
Non-interest-bearing demand 229,201 205,952 [1]
Interest-bearing 651,526 631,946 [1]
Total deposits 880,727 837,898 [1]
Other liabilities and accrued expenses 4,762 3,126 [1]
Total liabilities 885,489 841,024 [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; 7,395,927 shares issued and outstanding - June 30, 2018 7,361,077 shares issued and outstanding - September 30, 2017 14,162 13,286 [2]
Unearned shares issued to Employee Stock Ownership Plan (“ESOP”) (199) (397) [2]
Retained earnings 107,065 98,235 [2]
Accumulated other comprehensive loss (134) (124) [2]
Total shareholders’ equity 120,894 111,000 [2]
Total liabilities and shareholders’ equity $ 1,006,383 $ 952,024 [2]
[1] Derived from audited consolidated financial statements.
[2] Derived from audited consolidated financial statements.