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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Sep. 30, 2019
Assets    
Cash $ 1,643 $ 825
Interest earning deposits with banks 60,350 20,644
Total cash and cash equivalents 61,993 21,469
Investment securities - available for sale, at fair value 16,340 16,703
Investment securities - held to maturity, at amortized cost (fair value of $28,538 and $29,344 at June 30, 2020 and September 30, 2019, respectively) 28,070 29,481
Federal Home Loan Bank of New York stock, at cost 1,960 2,222
Loans receivable, net of allowance for loan losses of $6,000 and $4,888 at June 30, 2020 and September 30, 2019, respectively 604,550 518,217
Bank owned life insurance 13,887 13,647
Accrued interest receivable 3,686 2,133
Premises and equipment, net 14,936 16,172
Other real estate owned ("OREO") 6,169 7,528
Other assets 6,821 2,756
Total assets 758,412 630,328
Liabilities    
Deposits 623,789 530,075
Escrowed funds 2,534 2,399
Borrowings 66,941 36,189
Accrued interest payable 161 191
Accounts payable and other liabilities 8,898 6,823
Total liabilities 702,323 575,677
Stockholders' equity    
Preferred stock: $.01 Par Value, 1,000,000 shares authorized; none issued
Common stock: $.01 Par Value, 8,000,000 shares authorized; 5,923,742 issued; 5,810,746 and 5,820,746 shares outstanding at June 30, 2020 and September 30, 2019, respectively, at cost 59 59
Additional paid-in capital 26,306 26,317
Treasury stock: 102,996 and 102,996 shares at June 30, 2020 and September 30, 2019, respectively, at cost (1,242) (1,152)
Unearned Employee Stock Ownership Plan shares (102) (214)
Retained earnings 32,338 30,971
Accumulated other comprehensive loss (1,270) (1,330)
Total stockholders' equity 56,089 54,651
Total liabilities and stockholders' equity $ 758,412 $ 630,328