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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 13,615 $ 12,004
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 272 417
Depreciation 753 720
Accretion of discount on purchased loans (24) (20)
Amortization of CDI 90 113
Stock-based compensation expense 272 211
Net recoveries on investment securities (7) (7)
Change in fair value of investments in equity securities 13 (28)
Accretion of discounts and premiums on securities (526) (574)
Gain on sales of loans, net (165) (120)
Loans originated for sale (8,472) (6,865)
Proceeds from sales of loans 7,486 6,074
Amortization of loan servicing rights 394 467
BOLI net earnings (331) (312)
Increase in deferred loan origination fees (96) (63)
Net change in accrued interest receivable and other assets, and other liabilities and accrued expenses (3,976) (3,042)
Net cash provided by operating activities 9,298 8,975
Cash flows from investing activities    
Net decrease in CDs held for investment 1,498 3,984
Purchase of investment securities held to maturity 0 (1,919)
Purchase of investment securities available for sale (22,422) (22,207)
Proceeds from maturities and prepayments of investment securities held to maturity 31,395 60,810
Proceeds from maturities and prepayments of investment securities available for sale 9,290 2,667
Purchase of FHLB stock (8) 0
Redemption of FHLB stock 0 1,565
Decrease (increase) in loans receivable, net 1,059 (57,610)
Purchases of premises and equipment (703) (796)
Net cash provided by (used in) investing activities 20,109 (13,506)
Cash flows from financing activities    
Net increase in deposits 3,162 77,619
Repayment of FHLB borrowings 0 (15,000)
Proceeds from exercise of stock options 686 390
Repurchase of common stock (2,792) (3,034)
Payment of dividends (3,980) (3,816)
Net cash (used in) provided by financing activities (2,924) 56,159
Net increase in cash and cash equivalents 26,483 51,628
Beginning of period 164,728 128,721
End of period 191,211 180,349
Supplemental disclosure of cash flow information    
Income taxes paid 3,677 3,388
Interest paid 16,375 13,473
Supplemental disclosure of non-cash investing activities    
Other comprehensive (loss) income related to investment securities (690) 339
Loans transferred to OREO 221 0
Adjustment to retained earnings, net of deferred tax - adoption of ASU 2016-13 $ 0 $ (488)