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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Sep. 30, 2023
Cash and cash equivalents:    
Cash and due from financial institutions $ 28,656 $ 25,390 [1]
Interest-bearing deposits in banks 129,365 103,331 [1]
Total cash and cash equivalents 158,021 128,721 [1]
Certificates of deposit (“CDs”) held for investment (at cost, which      approximates fair value) 12,449 15,188 [1]
Investment securities held to maturity, at amortized cost (net of allowance for credit losses of $82 at December 31, 2023), (estimated fair value of $254,361 and $253,766) 266,085 270,218 [1]
Investment securities available for sale, at fair value 40,446 41,771 [1]
Investments in equity securities, at fair value 848 811
Federal Home Loan Bank of Des Moines (“FHLB”) stock, at cost 2,001 3,602 [1]
Other investments, at cost 3,000 3,000 [1]
Loans held for sale 1,425 400 [1]
Loans receivable, net of allowance for credit losses of $16,655 and $15,817 1,336,283 1,302,305 [1]
Premises and equipment, net 21,584 21,642 [1]
Accrued interest receivable 6,731 6,004 [1]
Bank owned life insurance (“BOLI”) 23,122 22,966 [1]
Goodwill 15,131 15,131 [1]
Core deposit intangible (“CDI”), net 621 677
Loan servicing rights, net 1,925 2,124 [1]
Operating lease right-of-use ("ROU") assets 1,698 1,772 [1]
Other assets 3,745 3,573 [1]
Total assets 1,895,115 1,839,905 [1]
Deposits:    
Non-interest-bearing demand 433,065 455,864 [1]
Interest-bearing 1,194,004 1,105,071 [1]
Total deposits 1,627,069 1,560,935 [1]
FHLB borrowings 20,000 35,000 [1]
Operating lease liabilities 1,796 1,867
Other liabilities and accrued expenses 8,881 9,030 [1]
Total liabilities 1,657,746 1,606,832 [1]
Shareholders’ equity    
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued 0 0 [2]
Common stock, $0.01 par value; 50,000,000 shares authorized; 8,120,708 shares issued and outstanding - December 31, 2023 8,105,338 shares issued and outstanding - September 30, 2023 34,869 34,771 [2]
Retained earnings 203,327 199,386 [2]
Accumulated other comprehensive loss (827) (1,084) [2]
Total shareholders’ equity 237,369 233,073 [2]
Total liabilities and shareholders’ equity $ 1,895,115 $ 1,839,905 [2]
[1] Derived from audited consolidated financial statements.
[2] Derived from audited consolidated financial statements.