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Consolidated Balance Sheets - USD ($)
Jun. 30, 2019
Sep. 30, 2018
Cash and cash equivalents:    
Cash and due from financial institutions $ 24,169,000 $ 20,238,000 [1]
Interest-bearing deposits in banks 146,666,000 128,626,000 [1]
Total cash and cash equivalents 170,835,000 148,864,000 [1]
Certificates of deposit (“CDs”) held for investment (at cost, which approximates fair value) 81,184,000 63,290,000 [1]
Investment securities held to maturity, at amortized cost (estimated fair value $39,091 and $13,264) 37,645,000 12,810,000 [1]
Investment securities available for sale, at fair value 2,028,000 1,154,000 [1]
Investments in equity securities, at fair value 951,000 0
Federal Home Loan Bank of Des Moines (“FHLB”) stock 1,437,000 1,190,000 [1]
Other investments, at cost 3,000,000 3,000,000 [1]
Loans held for sale 3,338,000 1,785,000 [1]
Loans receivable, net of allowance for loan losses of $9,631 and $9,530 873,982,000 725,391,000 [1]
Premises and equipment, net 23,090,000 18,953,000 [1]
Other real estate owned (“OREO”) and other repossessed assets, net 1,719,000 1,913,000 [1]
Accrued interest receivable 3,759,000 2,877,000 [1]
Bank owned life insurance (“BOLI”) 20,866,000 19,813,000 [1]
Goodwill 15,131,000 5,650,000 [1]
Core deposit intangible (“CDI”), net 2,144,000 0
Mortgage servicing rights (“MSRs”), net 2,372,000 2,028,000 [1]
Escrow deposit for business combination 0 6,900,000
BOLI death benefit receivable 1,019,000 0
Other assets 2,810,000 2,672,000 [1]
Total assets 1,247,310,000 1,018,290,000 [1]
Deposits:    
Non-interest-bearing demand 287,552,000 233,258,000 [1]
Interest-bearing 784,983,000 656,248,000 [1]
Total deposits 1,072,535,000 889,506,000 [1]
Other liabilities and accrued expenses 8,506,000 4,127,000 [1]
Total liabilities 1,081,041,000 893,633,000 [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; 8,340,928 shares issued and outstanding - June 30, 2019 7,401,177 shares issued and outstanding - September 30, 2018 43,398,000 14,394,000 [2]
Unearned shares issued to Employee Stock Ownership Plan (“ESOP”) 0 (133,000) [2]
Retained earnings 122,904,000 110,525,000 [2]
Accumulated other comprehensive loss (33,000) (129,000) [2]
Total shareholders’ equity 166,269,000 124,657,000 [2]
Total liabilities and shareholders’ equity $ 1,247,310,000 $ 1,018,290,000 [2]
[1] Derived from audited consolidated financial statements.
[2] Derived from audited consolidated financial statements.