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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities    
Net income $ 11,729 $ 7,883
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 790 621
Accretion of discount on purchased loans (388) 0
Amortization of CDI 219 0
Earned ESOP shares 434 416
Stock option compensation expense 106 87
Net recoveries on investment securities (20) (36)
Change in fair value of investments in equity securities (20) 0
Gain on sales of OREO and other repossessed assets, net 0 (93)
Provision for OREO losses 23 224
Gain on sales of loans, net (675) (992)
(Gain) loss on sales/disposition of premises and equipment, net (8) 113
Loans originated for sale (28,879) (30,608)
Proceeds from sales of loans 28,271 31,218
Amortization of MSRs 311 242
BOLI net earnings (314) (273)
BOLI death benefit in excess of cash surrender value (999) 0
Increase in deferred loan origination fees 219 49
Net change in accrued interest receivable and other assets, and other liabilities and accrued expenses (1,114) (209)
Net cash provided by operating activities 9,701 8,416
Cash flows from investing activities    
Net decrease (increase) in CDs held for investment 526 (9,904)
Proceeds from sale of investment securities available for sale 2,332 0
Proceeds from maturities and prepayments of investment securities held to maturity 1,242 266
Purchase of investment securities held to maturity (10,048) (1,111)
Purchase of FHLB stock 42 0
Proceeds from maturities and prepayments of investment securities available for sale 784 19
Increase in loans receivable, net (26,271) (18,416)
Additions to premises and equipment (1,360) (606)
Proceeds from sales of premises and equipment 0 463
Cash acquired, net of cash consideration paid in business combination 14,284 0
Escrow deposit for business combination 6,900 0
Proceeds from sales of OREO and other repossessed assets 0 1,112
Net cash used in investing activities (11,653) (28,177)
Cash flows from financing activities    
Net increase in deposits 30,550 42,513
Proceeds from exercise of stock options 283 234
Payment of dividends (3,159) (1,769)
Net cash provided by financing activities 27,674 40,978
Net increase in cash and cash equivalents 25,722 21,217
Cash and cash equivalents, at beginning of period 148,864 [1] 148,188
Cash and cash equivalents, at end of period 174,586 169,405
Supplemental disclosure of cash flow information    
Income taxes paid 2,741 2,208
Interest paid 2,053 1,243
Supplemental disclosure of non-cash investing activities    
Loans transferred to OREO and other repossessed assets 91 163
Other comprehensive income (loss) related to investment securities 21 (8)
Business Combination (see Note 2)    
Fair value of assets acquired 180,518 0
Fair value of liabilities assumed $ 154,829 $ 0
[1] Derived from audited consolidated financial statements.