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Condensed Financial Information - Parent Company Only | 12 Months Ended
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Sep. 30, 2024
Condensed Financial Information Disclosure [Abstract] |
Condensed Financial Information - Parent Company Only | Condensed Financial Information - Parent Company Only Condensed Balance Sheets - September 30, 2024 and 2023 (dollars in thousands)
| 2024 |  | 2023
Assets |  |  |
Cash and cash equivalents: |  |  |
Cash and due from financial institutions | $ | 1,430 |  |  | $ | 517 |
Total cash and cash equivalents | 1,430 |  |  | 517 |
Investment securities held to maturity, at amortized cost (net of allowance for credit losses of $5 at September 30, 2024 and $0 at September 30, 2023) (estimated fair value of $477 and $449) | 495 |  |  | 500 |
Investment in Bank | 243,527 |  |  | 232,145 |
Other assets | 94 |  |  | 51 |
Total assets | $ | 245,546 |  |  | $ | 233,213 |
Liabilities and shareholders’ equity |  |  |
Accrued expenses | $ | 133 |  |  | $ | 140 |
Shareholders’ equity | 245,413 |  |  | 233,073 |
Total liabilities and shareholders’ equity | $ | 245,546 |  |  | $ | 233,213 |
Condensed Statements of Income - Years Ended September 30, 2024, 2023 and 2022 (dollars in thousands)
| 2024 |  | 2023 |  | 2022
Operating income |  |  |  |  |
Interest on deposits in banks | $ | — |  |  | $ | — |  |  | $ | 3 |
Interest on investment securities | 24 |  |  | 24 |  |  | 24 |
Dividends from Bank | 14,000 |  |  | 11,400 |  |  | 10,255 |
Total operating income | 14,024 |  |  | 11,424 |  |  | 10,282 |
Operating expenses | 328 |  |  | 351 |  |  | 303 |
Income before income taxes and equity in undistributed income of Bank | 13,696 |  |  | 11,073 |  |  | 9,979 |
Benefit for income taxes | (145) |  |  | (148) |  |  | (139) |
Income before undistributed income of Bank | 13,841 |  |  | 11,221 |  |  | 10,118 |
Equity in undistributed income of Bank | 10,442 |  |  | 15,897 |  |  | 13,482 |
Net income | $ | 24,283 |  |  | $ | 27,118 |  |  | $ | 23,600 |
Condensed Statements of Cash Flows - Years Ended September 30, 2024, 2023 and 2022 (dollars in thousands)
| 2024 |  | 2023 |  | 2022
Cash flows from operating activities |  |  |  |  |
Net income | $ | 24,283 |  |  | $ | 27,118 |  |  | $ | 23,600 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Equity in undistributed income of Bank | (10,442) |  |  | (15,897) |  |  | (13,482) |
Stock option compensation expense | 390 |  |  | 320 |  |  | 246 |
Other, net | (50) |  |  | 100 |  |  | 16 |
Net cash provided by operating activities | 14,181 |  |  | 11,641 |  |  | 10,380 |
Cash flows from investing activities |  |  |  |  |
Investment in Bank | (319) |  |  | (267) |  |  | (202) |
Net cash used in investing activities | (319) |  |  | (267) |  |  | (202) |
Cash flows from financing activities |  |  |  |  |
Proceeds from exercise of stock options | 659 |  |  | 698 |  |  | 415 |
Repurchase of common stock, net of tax | (5,958) |  |  | (4,998) |  |  | (4,583) |
Payment of dividends | (7,650) |  |  | (8,267) |  |  | (7,232) |
Net cash used in financing activities | (12,949) |  |  | (12,567) |  |  | (11,400) |
Net increase (decrease) in cash and cash equivalents | 913 |  |  | (1,193) |  |  | (1,222) |
Cash and cash equivalents |  |  |  |  |
Beginning of year | 517 |  |  | 1,710 |  |  | 2,932 |
End of year | $ | 1,430 |  |  | $ | 517 |  |  | $ | 1,710 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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