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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest and dividend income        
Loans receivable and loans held for sale $ 12,459 $ 9,530 $ 36,457 $ 28,342
Investment securities 339 51 915 147
Dividends from mutual funds, FHLB stock and other investments 43 31 121 83
Interest-bearing deposits in banks and CDs 1,344 845 3,849 2,209
Total interest and dividend income 14,185 10,457 41,342 30,781
Interest expense        
Deposits 1,248 730 3,332 1,996
Total interest expense 1,248 730 3,332 1,996
Net interest income 12,937 9,727 38,010 28,785
Provision for loan losses 0 0 0 0
Net interest income after provision for loan losses 12,937 9,727 38,010 28,785
Non-interest income        
Recoveries (other than temporary impairment OTTI) on investment securities (14) (19) (46) (60)
Adjustment for portion of OTTI transferred from other comprehensive income (loss) before income taxes 0 0 (12) (5)
Net recoveries on investment securities (14) (19) (34) (55)
Gain on sale of investment securities held to maturity, net 47 0 47 0
BOLI net earnings 188 134 1,502 407
Gain on sales of loans, net 520 435 1,194 1,427
Servicing income on loans sold 110 121 375 354
Other, net 334 303 922 794
Total non-interest income, net 3,538 3,145 10,744 9,364
Non-interest expense        
Salaries and employee benefits 4,501 3,912 13,974 11,862
Premises and equipment 998 795 2,946 2,361
Loss (gain) on sales/dispositions of premises and equipment, net 0 0 8 (113)
Advertising 177 205 543 591
OREO and other repossessed assets, net 145 (92) 247 114
ATM and debit card interchange transaction fees 364 334 1,174 982
Postage and courier 131 104 379 340
State and local taxes 237 169 642 498
Professional fees 267 368 687 829
Federal Deposit Insurance Corporation (FDIC) insurance 72 101 243 242
Loan administration and foreclosure 73 76 244 247
Data processing and telecommunications 987 465 2,667 1,427
Deposit operations 391 285 1,049 815
Amortization of CDI 120 0 339 0
Other 504 400 1,665 1,324
Total non-interest expense 8,967 7,122 26,807 21,519
Income before income taxes 7,508 5,750 21,947 16,630
Provision for income taxes 1,552 1,334 4,262 4,331
Net income $ 5,956 $ 4,416 $ 17,685 $ 12,299
Net income per common share        
Basic (in dollars per share) $ 0.71 $ 0.60 $ 2.13 $ 1.68
Diluted (in dollars per share) $ 0.70 $ 0.59 $ 2.09 $ 1.64
Weighted average common shares outstanding        
Basic (in shares) 8,338,637 7,345,618 8,313,913 7,328,702
Diluted (in shares) 8,482,360 7,535,157 8,468,212 7,518,447
Dividends paid per common share (in dollars per share) $ 0.25 $ 0.23 $ 0.63 $ 0.47
Deposit Account        
Non-interest income        
Revenue from contract with customer $ 1,175 $ 1,137 $ 3,581 $ 3,447
Credit and Debit Card        
Non-interest income        
Revenue from contract with customer 1,090 921 2,896 2,648
Asset Management        
Non-interest income        
Revenue from contract with customer 54 47 150 158
Investment Advice        
Non-interest income        
Revenue from contract with customer $ 6 $ 28 $ 43 $ 74