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Condensed Financial Information - Parent Company Only (Tables) | 12 Months Ended
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Sep. 30, 2024
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheets, Parent Company | 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 Operations, Parent Company | 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, Parent Company | 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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