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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities    
Net income $ 1,423 $ 1,091
Adjustment to reconcile net income to net cash provided by operating activities    
Depreciation expense 816 778
Premium amortization on investment securities, net 187 195
Provision for loan losses 1,343 1,366
Provision for loss on other real estate owned 218 301
Originations of loans held for sale (4,382) (6,194)
Proceeds from the sales of loans 4,706 9,842
Gains on sale of loans (324) (625)
Gains on sales of investment securities (72)
Losses on the sales of other real estate owned 80 101
ESOP compensation expense 154 122
Stock-based compensation expense 3
Deferred income tax expense 997 605
Increase in accrued interest receivable (219) (7)
Increase in surrender value bank owned life insurance (293) (295)
Decrease (increase) in other assets 155 (18)
(Decrease) increase in accrued interest payable (10) 13
(Decrease) increase in accounts payable and other liabilities (1,250) 1,307
Net cash provided by operating activities 3,601 8,513
Investing activities    
Net increase in loans receivable (5,540) (31,255)
Purchases of loans receivable (12,626) (9,393)
Purchases of investment securities held to maturity (5,484) (10,565)
Purchases of investment securities available for sale (7,931) (6,482)
Sales of investment securities available for sale 6,298
Principal repayments on investment securities held to maturity 6,896 10,080
Principal repayments on investment securities available for sale 1,099 1,033
Purchases of premises and equipment (299) (184)
Investment in other real estate owned (58) (162)
Proceeds from other real estate owned 1,948 4,835
Redemptions (purchases) of Federal Home Loan Bank stock 237 (214)
Net cash used by investing activities (21,758) (36,009)
Financing activities    
Net increase in deposits 22,551 26,381
Net increase in escrowed funds 269 367
Proceeds from long-term advances 865 6,706
Repayments of long-term advances (5,000) (2,260)
Net cash provided by financing activities 18,685 31,194
Net increase in cash and cash equivalents 528 3,698
Cash and cash equivalents, beginning of period 21,806 18,108
Cash and cash equivalents, end of period 22,334 21,806
Cash paid for    
Interest 3,782 3,520
Income taxes 36 4
Non-cash investing activities    
Real estate acquired in full satisfaction of loans in foreclosure 1,161 1,824
OREO transferred to premises and equipment $ 860