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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Sep. 30, 2018
Cash and cash equivalents:    
Cash and due from financial institutions $ 25,179 $ 20,238
Interest-bearing deposits in banks 117,836 128,626
Total cash and cash equivalents 143,015 148,864
Certificates of deposit (“CDs”) held for investment (at cost, which approximates fair value) 78,346 63,290
Investment securities held to maturity, at amortized cost (estimated fair value $32,580 and $13,264) 31,102 12,810
Investment securities available for sale, at fair value 22,532 1,154
Investments in equity securities, at fair value 958 0
Federal Home Loan Bank of Des Moines (“FHLB”) stock 1,437 1,190
Other investments, at cost 3,000 3,000
Loans held for sale 6,071 1,785
Loans receivable, net of allowance for loans losses of $9,690 and $9,530 886,662 725,391
Premises and equipment, net 22,830 18,953
Other real estate owned (“OREO”) and other repossessed assets, net 1,683 1,913
Accrued interest receivable 3,598 2,877
Bank owned life insurance (“BOLI”) 21,005 19,813
Goodwill 15,131 5,650
Core deposit intangible (“CDI”), net 2,031 0
Servicing rights, net 2,408 2,028
Escrow deposit for business combination 0 6,900
Other assets 5,323 2,672
Total assets 1,247,132 1,018,290
Deposits:    
Non-interest-bearing demand 296,472 233,258
Interest-bearing 771,755 656,248
Total deposits 1,068,227 889,506
Other liabilities and accrued expenses 7,838 4,127
Total liabilities 1,076,065 893,633
Commitments and contingencies (See Note 16)
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; 8,329,419 shares issued and outstanding - September 30, 2019 7,401,177 shares issued and outstanding - September 30, 2018 43,030 14,394
Unearned shares issued to Employee Stock Ownership Plan (“ESOP”) 0 (133)
Retained earnings 127,987 110,525
Accumulated other comprehensive income (loss) 50 (129)
Total shareholders’ equity 171,067 124,657
Total liabilities and shareholders’ equity $ 1,247,132 $ 1,018,290