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Consolidated Statements of Income - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2022
Mar. 31, 2021
Interest and dividend income        
Loans receivable and loans held for sale $ 12,620,000 $ 12,790,000 $ 25,242,000 $ 26,108,000
Investment securities 590,000 284,000 996,000 585,000
Dividends from mutual funds, FHLB stock and other investments 27,000 27,000 54,000 55,000
Interest-bearing deposits in banks and CDs 283,000 259,000 571,000 569,000
Total interest and dividend income 13,520,000 13,360,000 26,863,000 27,317,000
Interest expense        
Deposits 625,000 764,000 1,257,000 1,668,000
FHLB borrowings 2,000 29,000 17,000 58,000
Total interest expense 627,000 793,000 1,274,000 1,726,000
Net interest income 12,893,000 12,567,000 25,589,000 25,591,000
Provision for loan losses 0 0 0 0
Net interest income after provision for loan losses 12,893,000 12,567,000 25,589,000 25,591,000
Non-interest income        
Net recoveries on investment securities 3,000 3,000 11,000 8,000
BOLI net earnings 152,000 146,000 305,000 295,000
Gain on sales of loans, net 416,000 1,758,000 1,079,000 3,760,000
Valuation recovery on loan servicing rights, net 0 438,000 119,000 202,000
Other, net 207,000 289,000 438,000 612,000
Total non-interest income 3,083,000 4,886,000 6,525,000 9,445,000
Non-interest expense        
Salaries and employee benefits 5,192,000 4,778,000 10,363,000 9,391,000
Premises and equipment 988,000 998,000 1,916,000 1,955,000
Advertising 161,000 155,000 327,000 311,000
OREO and other repossessed assets, net 2,000 (68,000) (16,000) (94,000)
ATM and debit card interchange transaction fees 450,000 445,000 914,000 876,000
Postage and courier 164,000 149,000 300,000 287,000
State and local taxes 235,000 255,000 489,000 538,000
Professional fees 322,000 181,000 593,000 412,000
Federal Deposit Insurance Corporation ("FDIC") insurance 126,000 105,000 254,000 201,000
Loan administration and foreclosure 96,000 90,000 200,000 171,000
Data processing and telecommunications 669,000 634,000 1,282,000 1,240,000
Deposit operations 262,000 245,000 561,000 529,000
Amortization of CDI 79,000 91,000 158,000 181,000
Other 587,000 493,000 1,256,000 963,000
Total non-interest expense, net 9,333,000 8,551,000 18,597,000 16,961,000
Income before income taxes 6,643,000 8,902,000 13,517,000 18,075,000
Provision for income taxes 1,316,000 1,651,000 2,705,000 3,534,000
     Net income $ 5,327,000 $ 7,251,000 $ 10,812,000 $ 14,541,000
Net income per common share        
Basic (in dollars per share) $ 0.64 $ 0.87 $ 1.30 $ 1.75
Diluted (in dollars per share) $ 0.63 $ 0.86 $ 1.28 $ 1.73
Weighted average common shares outstanding        
Basic (in shares) 8,337,407 8,331,121 8,346,839 8,322,210
Diluted (in shares) 8,421,875 8,444,798 8,435,536 8,428,595
Deposit Account        
Non-interest income        
Revenue from contract with customer $ 1,014,000 $ 941,000 $ 1,927,000 $ 1,996,000
Credit and Debit Card        
Non-interest income        
Revenue from contract with customer 1,247,000 1,237,000 2,523,000 2,393,000
Asset Management        
Non-interest income        
Revenue from contract with customer $ 44,000 $ 74,000 $ 123,000 $ 179,000