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Condensed Financial Information - Parent Company Only (Tables) | 12 Months Ended
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Sep. 30, 2020
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheets, Parent Company | Condensed Balance Sheets - September 30, 2020 and 2019 (dollars in thousands)
| 2020 |  | 2019
Assets |  |  |
Cash and cash equivalents: |  |  |
Cash and due from financial institutions | $ | 505 |  |  | $ | 336 |
Interest-bearing deposits in banks | 2,128 |  |  | 2,555 |
Total cash and cash equivalents | 2,633 |  |  | 2,891 |
Investment securities held to maturity, at amortized cost (estimated fair value $499) | 500 |  |  | — |
Investment in Bank | 184,567 |  |  | 168,525 |
Other assets | 23 |  |  | 15 |
Total assets | $ | 187,723 |  |  | $ | 171,431 |
Liabilities and shareholders’ equity |  |  |
Accrued expenses | $ | 93 |  |  | $ | 364 |
Shareholders’ equity | 187,630 |  |  | 171,067 |
Total liabilities and shareholders’ equity | $ | 187,723 |  |  | $ | 171,431 |
Condensed Statements of Operations, Parent Company | Condensed Statements of Income - Years Ended September 30, 2020, 2019 and 2018 (dollars in thousands)
| 2020 |  | 2019 |  | 2018
Operating income |  |  |  |  |
Interest on deposits in banks | $ | 26 |  |  | $ | 67 |  |  | $ | 37 |
Interest on loan receivable from ESOP | — |  |  | 9 |  |  | 53 |
Interest on investment securities | 5 |  |  | — |  |  | — |
Dividends from Bank | 8,762 |  |  | 6,607 |  |  | 4,429 |
Total operating income | 8,793 |  |  | 6,683 |  |  | 4,519 |
Operating expenses | 554 |  |  | 525 |  |  | 591 |
Income before income taxes and equity in undistributed income of Bank | 8,239 |  |  | 6,158 |  |  | 3,928 |
Benefit for income taxes | (186) |  |  | (169) |  |  | (198) |
Income before undistributed income of Bank | 8,425 |  |  | 6,327 |  |  | 4,126 |
Equity in undistributed income of Bank | 15,844 |  |  | 17,693 |  |  | 12,595 |
Net income | $ | 24,269 |  |  | $ | 24,020 |  |  | $ | 16,721 |
Condensed Statements of Cash Flows, Parent Company | Condensed Statements of Cash Flows - Years Ended September 30, 2020, 2019 and 2018 (dollars in thousands)
| 2020 |  | 2019 |  | 2018
Cash flows from operating activities |  |  |  |  |
Net income | $ | 24,269 |  |  | $ | 24,020 |  |  | $ | 16,721 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Equity in undistributed income of Bank | (15,844) |  |  | (17,693) |  |  | (12,595) |
Earned ESOP shares | 31 |  |  | 441 |  |  | 882 |
Stock option compensation expense | 182 |  |  | 159 |  |  | 172 |
Other, net | (279) |  |  | 9 |  |  | 280 |
Net cash provided by operating activities | 8,359 |  |  | 6,936 |  |  | 5,460 |
Cash flows from investing activities |  |  |  |  |
Investment in Bank | (187) |  |  | (14,915) |  |  | (1,271) |
Purchase of investment securities held to maturity | (500) |  |  | — |  |  | — |
Principal repayments on loan receivable from ESOP | — |  |  | 285 |  |  | 536 |
Cash acquired, net of cash consideration paid in business combination | — |  |  | 14,284 |  |  | — |
Net cash used in investing activities | (687) |  |  | (346) |  |  | (735) |
Cash flows from financing activities |  |  |  |  |
Proceeds from exercise of stock options | 391 |  |  | 401 |  |  | 318 |
Repurchase of common stock | (1,238) |  |  | (499) |  |  | — |
Payment of dividends | (7,083) |  |  | (6,495) |  |  | (4,431) |
Net cash used in financing activities | (7,930) |  |  | (6,593) |  |  | (4,113) |
Net (decrease) increase in cash and cash equivalents | (258) |  |  | (3) |  |  | 612 |
Cash and cash equivalents |  |  |  |  |
Beginning of year | 2,891 |  |  | 2,894 |  |  | 2,282 |
End of year | $ | 2,633 |  |  | $ | 2,891 |  |  | $ | 2,894 |

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