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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 17,928 $ 20,476
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 660 1,610
Depreciation 1,088 1,022
Deferred income taxes/(benefits) 0 (77)
Accretion of discount on purchased loans (29) (64)
Amortization of CDI 169 203
Stock-based compensation expense 316 235
Gain on sale of investment securities available for sale, net 0 (95)
Net recoveries on investment securities (9) (7)
Change in fair value of investments in equity securities (25) (2)
Accretion of discounts and premiums on securities (842) (922)
Gain on sales of loans, net (188) (147)
Gain on sales/dispositions of premises and equipment, net (3) (32)
Loans originated for sale (10,330) (6,062)
Proceeds from sales of loans 9,123 6,957
Amortization of loan servicing rights 684 769
BOLI net earnings (470) (470)
Increase in deferred loan origination fees 162 636
Net change in accrued interest receivable and other assets, and other liabilities and accrued expenses (1,830) (800)
Net cash provided by operating activities 16,404 23,230
Cash flows from investing activities    
Net decrease in CDs held for investment 4,730 5,963
Proceeds from sale of investment securities available for sale 0 8,929
Purchase of investment securities held to maturity (1,919) (15,601)
Purchase of investment securities available for sale (36,089) (16,994)
Proceeds from maturities and prepayments of investment securities held to maturity 96,052 8,000
Proceeds from maturities and prepayments of investment securities available for sale 4,105 5,784
Purchase of FHLB stock 0 (608)
Redemption of FHLB stock 1,565 0
Increase in loans receivable, net (96,118) (130,403)
Purchases of premises and equipment (1,010) (711)
Proceeds from sales of premises and equipment 8 45
Net cash used in investing activities (28,676) (135,596)
Cash flows from financing activities    
Net increase (decrease) in deposits 67,609 (79,446)
Proceeds from (repayment of) FHLB borrowings (15,000)  
Proceeds from (repayment of) FHLB borrowings   15,000
Proceeds from exercise of stock options 395 534
Repurchase of common stock (4,801) (4,119)
Payment of dividends (5,739) (6,405)
Net cash provided by (used in) financing activities 42,464 (74,436)
Net increase (decrease) in cash and cash equivalents 30,192 (186,802)
Beginning of period 128,721 316,755
End of period 158,913 129,953
Supplemental disclosure of cash flow information    
Income taxes paid 4,884 6,268
Interest paid 21,854 6,088
Supplemental disclosure of non-cash investing activities    
Other comprehensive income (loss) related to investment securities 539 (27)
Operating lease liabilities arising from recording of ROU assets 0 71
Adjustment to retained earnings, net of deferred tax; - adoption of ASU 2016-13 $ (488) $ 0