XML 18 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities    
Net income $ 1,452 $ 725
Adjustment to reconcile net income to net cash provided by operating activities    
Depreciation expense 468 424
Premium amortization on investment securities, net 56 76
Provision for loan losses 307 506
Provision for loss on other real estate owned 212 273
Originations of SBA loans held for sale (2,170) (4,448)
Proceeds from the sales of SBA loans 2,321 4,664
Gains on sale of loans receivable (151) (216)
Gains on sales of investment securities (32) (107)
Gains on the sales of other real estate owned (35) (30)
ESOP compensation expense 75 79
Deferred income tax (benefit) expense (158) 107
Increase in accrued interest receivable (56) (34)
Increase in surrender value of bank owned life insurance (147) (146)
Increase in other assets (463) (121)
Increase in accrued interest payable 29 12
(Decrease) increase in accounts payable and other liabilities (120) 481
Net cash provided by operating activities 1,588 2,245
Investing activities    
Net increase in loans receivable (11,643) (14,217)
Purchases of loans receivable (461)
Proceeds from the sale of loans receivable 4,386 1,200
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 947
Principal repayments on investment securities held to maturity 1,338 1,817
Principal repayments on investment securities available for sale 878 1,812
Purchases of premises and equipment (64) (205)
Investment in other real estate owned (11) (182)
Proceeds from other real estate owned 862 845
Redemptions (purchases) of Federal Home Loan Bank stock 133 (90)
Net cash used by investing activities (7,907) (11,008)
Financing activities    
Net increase in deposits 41,657 1,553
Net increase in escrowed funds 429 227
Proceeds from long-term advances 3,975
(Repayments) proceeds of long-term advances (6,940) 2,000
Net cash provided by financing activities 39,121 3,780
Net increase (decrease) in cash and cash equivalents 32,802 (4,983)
Cash and cash equivalents, beginning of period 15,368 22,334
Cash and cash equivalents, end of period 48,170 17,351
Supplemental disclosures of cash flow information    
Interest 3,286 2,081
Income taxes 414 814
Non-cash investing activities    
Investment securities transferred from held to maturity to available for sale $ 12,619