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Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Sep. 30, 2018
Cash and cash equivalents:    
Cash and due from financial institutions $ 18,938,000 $ 20,238,000 [1]
Interest-bearing deposits in banks 142,805,000 128,626,000 [1]
Total cash and cash equivalents 161,743,000 148,864,000 [1]
Certificates of deposit (“CDs”) held for investment (at cost, which approximates fair value) 65,830,000 63,290,000 [1]
Investment securities held to maturity, at amortized cost (estimated fair value $32,472 and $13,264) 31,950,000 12,810,000 [1]
Investment securities available for sale, at fair value 2,197,000 237,000 [1]
Investments in equity securities, at fair value 925,000 917,000
Federal Home Loan Bank of Des Moines (“FHLB”) stock 1,395,000 1,190,000 [1]
Other investments, at cost 3,000,000 3,000,000 [1]
Loans held for sale 2,988,000 1,785,000 [1]
Loans receivable, net of allowance for loan losses of $9,533 and $9,530 857,070,000 725,391,000 [1]
Premises and equipment, net 22,884,000 18,953,000 [1]
Other real estate owned (“OREO”) and other repossessed assets, net 2,026,000 1,913,000 [1]
Accrued interest receivable 3,497,000 2,877,000 [1]
Bank owned life insurance (“BOLI”) 22,599,000 19,813,000 [1]
Goodwill 14,620,000 5,650,000 [1]
Core deposit intangible (“CDI”), net 2,374,000 0
Mortgage servicing rights (“MSRs”), net 2,338,000 2,028,000 [1]
Escrow deposit for business combination 0 6,900,000
Other assets 2,879,000 2,672,000 [1]
Total assets 1,200,315,000 1,018,290,000 [1]
Deposits:    
Non-interest-bearing demand 271,251,000 233,258,000 [1]
Interest-bearing 763,926,000 656,248,000 [1]
Total deposits 1,035,177,000 889,506,000 [1]
Other liabilities and accrued expenses 8,233,000 4,127,000 [1]
Total liabilities 1,043,410,000 893,633,000 [1]
Shareholders’ equity    
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued 0 0 [2]
Common stock, $0.01 par value; 50,000,000 shares authorized; 8,313,403 shares issued and outstanding - December 31, 2018 7,401,177 shares issued and outstanding - September 30, 2018 42,951,000 14,394,000 [2]
Unearned shares issued to Employee Stock Ownership Plan (“ESOP”) (67,000) (133,000) [2]
Retained earnings 114,166,000 110,525,000 [2]
Accumulated other comprehensive loss (145,000) (129,000) [2]
Total shareholders’ equity 156,905,000 124,657,000 [2]
Total liabilities and shareholders’ equity $ 1,200,315,000 $ 1,018,290,000 [2]
[1] Derived from audited consolidated financial statements.
[2] Derived from audited consolidated financial statements.