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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2021
Mar. 31, 2020
Interest and dividend income        
Loans receivable and loans held for sale $ 12,790 $ 12,823 $ 26,108 $ 25,587
Investment securities 284 489 585 928
Dividends from mutual funds, FHLB stock and other investments 27 35 55 72
Interest-bearing deposits in banks and CDs 259 784 569 1,735
Total interest and dividend income 13,360 14,131 27,317 28,322
Interest expense        
Deposits 764 1,243 1,668 2,432
FHLB borrowings 29 8 58 8
Total interest expense 793 1,251 1,726 2,440
Net interest income 12,567 12,880 25,591 25,882
Provision for loan losses 0 2,000 0 2,200
Net interest income after provision for loan losses 12,567 10,880 25,591 23,682
Non-interest income        
Net recoveries on investment securities 3 3 8 106
BOLI net earnings 146 147 295 294
Gain on sales of loans, net 1,758 736 3,760 1,688
Valuation recovery (allowance) on servicing rights, net 438 0 202 (23)
Other, net 299 592 607 900
Total non-interest income, net 4,886 3,680 9,445 7,618
Non-interest expense        
Salaries and employee benefits 4,778 4,621 9,391 9,343
Premises and equipment 998 943 1,955 1,837
Gain on sales/dispositions of premises and equipment, net 0 (3) 0 (102)
Advertising 155 159 311 342
OREO and other repossessed assets, net (68) 51 (94) 50
ATM and debit card interchange transaction fees 445 359 876 799
Postage and courier 149 145 287 279
State and local taxes 255 233 538 449
Professional fees 181 210 412 480
Federal Deposit Insurance Corporation ("FDIC") insurance 105 0 201 (27)
Loan administration and foreclosure 90 78 171 167
Data processing and telecommunications 634 515 1,240 1,099
Deposit operations 245 274 529 591
Amortization of CDI 91 102 181 203
Other 493 599 963 1,149
Total non-interest expense, net 8,551 8,286 16,961 16,659
Income before income taxes 8,902 6,274 18,075 14,641
Provision for income taxes 1,651 1,225 3,534 2,940
     Net income $ 7,251 $ 5,049 $ 14,541 $ 11,701
Net income per common share        
Basic (in dollars per share) $ 0.87 $ 0.61 $ 1.75 $ 1.40
Diluted (in dollars per share) $ 0.86 $ 0.60 $ 1.73 $ 1.38
Weighted average common shares outstanding        
Basic (in shares) 8,331,121 8,344,201 8,322,210 8,342,828
Diluted (in shares) 8,444,798 8,456,659 8,428,595 8,465,894
Dividends paid per common share (in dollars per share)     $ 0.51 $ 0.45
Deposit Account        
Non-interest income        
Revenue from contract with customer $ 941 $ 1,078 $ 1,996 $ 2,278
Credit and Debit Card        
Non-interest income        
Revenue from contract with customer 1,237 1,015 2,393 2,109
Asset Management        
Non-interest income        
Revenue from contract with customer 74 47 179 130
Servicing Income On Loans Sold        
Non-interest income        
Revenue from contract with customer $ (10) $ 62 $ 5 $ 136