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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2020
Sep. 30, 2019
Cash and cash equivalents:    
Cash and due from financial institutions $ 21,877 $ 25,179
Interest-bearing deposits in banks 292,575 117,836
Total cash and cash equivalents 314,452 143,015
Certificates of deposit (“CDs”) held for investment (at cost, which      approximates fair value) 65,545 78,346
Investment securities held to maturity, at amortized cost (estimated fair value $29,827 and $32,580) 27,890 31,102
Investment securities available for sale, at fair value 57,907 22,532
Investments in equity securities, at fair value 977 958
Federal Home Loan Bank of Des Moines (“FHLB”) stock 1,922 1,437
Other investments, at cost 3,000 3,000
Loans held for sale 4,509 6,071
Loans receivable, net of allowance for loans losses of $13,414 and $9,690 1,013,875 886,662
Premises and equipment, net 23,035 22,830
Other real estate owned (“OREO”) and other repossessed assets, net 1,050 1,683
Accrued interest receivable 4,484 3,598
Bank owned life insurance (“BOLI”) 21,596 21,005
Goodwill 15,131 15,131
Core deposit intangible (“CDI”), net 1,625 2,031
Servicing rights, net 3,095 2,408
Operating lease right-of-use ("ROU") assets 2,587 0
Other assets 3,298 5,323
Total assets 1,565,978 1,247,132
Deposits:    
Non-interest-bearing demand 441,889 296,472
Interest-bearing 916,517 771,755
Total deposits 1,358,406 1,068,227
Operating lease liabilities 2,630 0
FHLB borrowings 10,000 0
Other liabilities and accrued expenses 7,312 7,838
Total liabilities 1,378,348 1,076,065
Commitments and contingencies (See Note 17)
Shareholders’ equity    
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued 0 0
Common stock, $0.01 par value; 50,000,000 shares authorized; 8,310,793 shares issued and outstanding - September 30, 2020 8,329,419 shares issued and outstanding - September 30, 2019 42,396 43,030
Retained earnings 145,173 127,987
Accumulated other comprehensive income 61 50
Total shareholders’ equity 187,630 171,067
Total liabilities and shareholders’ equity $ 1,565,978 $ 1,247,132
Preferred stock par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock shares authorized (in shares) 1,000,000 1,000,000
Common stock par value (in dollars per share) $ 0.01 $ 0.01
Common stock shares authorized (in shares) 50,000,000 50,000,000
Preferred stock shares issued (in shares) 0 0