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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest and dividend income        
Loans receivable and loans held for sale $ 12,871 $ 12,459 $ 38,457 $ 36,457
Investment securities 345 339 1,274 915
Dividends from mutual funds, FHLB stock and other investments 23 43 95 121
Interest-bearing deposits in banks and CDs 429 1,344 2,164 3,849
Total interest and dividend income 13,668 14,185 41,990 41,342
Interest expense        
Deposits 1,159 1,248 3,591 3,332
FHLB borrowings 29 0 37 0
Total interest expense 1,188 1,248 3,628 3,332
Net interest income 12,480 12,937 38,362 38,010
Provision for loan losses 1,000 0 3,200 0
Net interest income after provision for loan losses 11,480 12,937 35,162 38,010
Non-interest income        
Recoveries on investment securities 6 14 113 46
Adjustment for portion of other than temporary impairment ("OTTI") transferred from other comprehensive income (loss) (before income taxes) 0 0 0 (12)
Net recoveries on investment securities 6 14 113 34
Gain on sale of investment securities held to maturity, net 0 47 0 47
BOLI net earnings 148 188 442 1,502
Gain on sales of loans, net 2,141 520 3,829 1,194
Servicing income on loans sold 35 110 148 375
Other, net 517 334 1,403 922
Total non-interest income, net 4,855 3,538 12,473 10,744
Non-interest expense        
Salaries and employee benefits 4,570 4,501 13,913 13,974
Premises and equipment 1,077 998 2,914 2,946
Loss (gain) on sales/dispositions of premises and equipment, net 4 0 (98) 8
Advertising 150 177 493 543
OREO and other repossessed assets, net 11 145 60 247
ATM and debit card interchange transaction fees 405 364 1,203 1,174
Postage and courier 137 131 416 379
State and local taxes 255 237 705 642
Professional fees 286 267 766 687
Federal Deposit Insurance Corporation ("FDIC") insurance 143 72 116 243
Loan administration and foreclosure 191 73 358 244
Data processing and telecommunications 603 987 1,702 2,667
Deposit operations 245 391 836 1,049
Amortization of CDI 101 120 304 339
Other 483 504 1,631 1,665
Total non-interest expense, net 8,661 8,967 25,319 26,807
Income before income taxes 7,674 7,508 22,316 21,947
Provision for income taxes 1,463 1,552 4,404 4,262
     Net income $ 6,211 $ 5,956 $ 17,912 $ 17,685
Net income per common share        
Basic (in dollars per share) $ 0.75 $ 0.71 $ 2.15 $ 2.13
Diluted (in dollars per share) $ 0.74 $ 0.70 $ 2.12 $ 2.09
Weighted average common shares outstanding        
Basic (in shares) 8,309,947 8,338,637 8,331,908 8,313,913
Diluted (in shares) 8,378,983 8,482,360 8,437,030 8,468,212
Dividends paid per common share (in dollars per share) $ 0.20 $ 0.25 $ 0.65 $ 0.63
Deposit Account        
Non-interest income        
Revenue from contract with customer $ 858 $ 1,175 $ 3,136 $ 3,581
Credit and Debit Card        
Non-interest income        
Revenue from contract with customer 1,069 1,090 3,178 2,896
Asset Management        
Non-interest income        
Revenue from contract with customer 81 54 211 150
Investment Advice        
Non-interest income        
Revenue from contract with customer $ 0 $ 6 $ 13 $ 43