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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 10,812 $ 14,541
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 708 781
Deferred income taxes 266 51
Accretion of discount on purchased loans (91) (207)
Amortization of CDI 158 181
Stock option compensation expense 132 92
Net recoveries on investment securities (11) (8)
Change in fair value of investments in equity securities 53 20
Amortization (accretion) of discounts and premiums on securities 176 (16)
Gain on sales of OREO and other repossessed assets, net 0 (92)
Gain on sales of loans, net (1,079) (3,760)
Loans originated for sale (37,915) (85,313)
Proceeds from sales of loans 39,439 85,127
Amortization of loan servicing rights 600 529
Valuation recovery on loan servicing rights, net (119) (202)
BOLI net earnings (305) (295)
Increase (decrease) in deferred loan origination fees (1,342) 563
Net change in accrued interest receivable and other assets, and other liabilities and accrued expenses (2,071) (1,826)
Net cash provided by operating activities 9,411 10,166
Cash flows from investing activities    
Net (increase) decrease in CDs held for investment (137) 25,871
Purchase of investment securities held to maturity (126,272) (15,050)
Purchase of investment securities available for sale 0 (16,383)
Proceeds from maturities and prepayments of investment securities held to maturity 5,992 6,589
Proceeds from maturities and prepayments of investment securities available for sale 12,152 5,093
Purchase of FHLB stock (91) (381)
Increase in loans receivable, net (64,193) (17,164)
Purchases of premises and equipment (219) (509)
Proceeds from sales of OREO and other repossessed assets 0 985
Net cash used in investing activities (172,768) (10,949)
Cash flows from financing activities    
Net increase in deposits 85,871 123,453
Repayments of FHLB borrowings (5,000) 0
Proceeds from exercise of stock options 332 519
Repurchase of common stock (2,149) (58)
Payment of dividends (3,591) (4,241)
Net cash provided by financing activities 75,463 119,673
Net increase (decrease) in cash and cash equivalents (87,894) 118,890
Beginning of period 580,196 314,452
End of period 492,302 433,342
Supplemental disclosure of cash flow information    
Income taxes paid 2,188 2,688
Interest paid 1,305 1,818
Supplemental disclosure of non-cash investing activities    
Other comprehensive income (loss) related to investment securities $ (166) $ 60