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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net income $ 2,996 $ 2,030
Adjustment to reconcile net income to net cash provided by operating activities    
Depreciation expense 871 861
Premium amortization on investment securities, net 105 134
Provision for loan losses 668 997
Provision for loss on other real estate owned 212 418
Originations of SBA loans held for sale (2,683) (8,167)
Proceeds from the sales of SBA loans 2,876 8,660
Gains on sale of loans receivable (193) (493)
Gains on sales of investment securities (117) (107)
Gains on the sales of other real estate owned (57) (184)
ESOP compensation expense 149 157
Deferred income tax (benefit) expense (292) 710
Decrease (increase) in accrued interest receivable 48 (252)
Increase in surrender value of bank owned life insurance (304) (293)
Increase in other assets (226) (167)
(Decrease) increase in accrued interest payable (2) 88
Increase in accounts payable and other liabilities 1,738 230
Net cash provided by operating activities 5,789 4,622
Investing activities    
Net increase in loans receivable (20,410) (37,233)
Purchases of loans receivable (5,562)
Proceeds from the sale of loans receivable 9,452 3,738
Purchases of investment securities held to maturity (1,645) (3,492)
Purchases of investment securities available for sale (3,088) (1,443)
Sales of investment securities held to maturity 3,408
Sales of investment securities available for sale 6,575
Principal repayments on investment securities held to maturity 5,750 5,223
Principal repayments on investment securities available for sale 3,166 2,757
Purchase of bank owned life insurance (1,500)
Purchases of premises and equipment (53) (284)
Investment in other real estate owned (11) (191)
Proceeds from other real estate owned 1,417 2,750
Purchases of Federal Home Loan Bank stock (58) (162)
Net cash used by investing activities (405) (30,491)
Financing activities    
Net (decrease) increase in deposits (62) 14,936
Net increase in escrowed funds 114 348
Proceeds from long-term advances 9,605 8,719
Repayments of long-term advances (8,940) (5,100)
Net cash provided by financing activities 717 18,903
Net increase (decrease) in cash and cash equivalents 6,101 (6,966)
Cash and cash equivalents, beginning of year 15,368 22,334
Cash and cash equivalents, end of year 21,469 15,368
Cash paid for    
Interest 6,711 4,561
Income taxes 1,059 1,066
Non-cash investing activities    
Real estate acquired in full satisfaction of loans in foreclosure 503
Investment securities transferred from held to maturity to available for sale 12,619
OREO transferred to premises and equipment