XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income $ 4,510 $ 1,367
Adjustment to reconcile net income to net cash provided by (used in) by operating activities    
Depreciation expense 622 456
Premium amortization on investment securities, net 119 78
Provision for loan losses 1,353 1,069
Provision for loss on other real estate owned 215 371
Originations of SBA loans held for sale (6,386) (806)
Proceeds from the sales of SBA loans 7,135 887
Gains on sale of loans receivable (749) (81)
Gains on sales of investment securities (68)
Gains on the sales of other real estate owned (79) (34)
Loss on the sale of premises and equipment 16
ESOP compensation expense 50 101
Deferred income tax benefit (348) (548)
Decrease (increase) in accrued interest receivable 148 (1,553)
Increase in surrender value of bank owned life insurance (233) (240)
(Increase) decrease in other assets (2,532) 295
Decrease in accrued interest payable (102) (30)
Increase (decrease) in accounts payable and other liabilities 1,516 (1,760)
Net cash provided by (used in) by operating activities 5,239 (480)
Investing activities    
Net increase in loans receivable (4,864) (73,973)
Purchases of loans receivable (3,500) (13,429)
Proceeds from the sale of loans receivable 4,000
Purchases of investment securities held to maturity (28,189) (5,726)
Purchases of investment securities available for sale (10,561) (9,557)
Sales of investment securities available for sale 6,073
Proceeds from calls of investment securities held to maturity 2,000
Proceeds from calls of investment securities available for sale 5,000
Principal repayments on investment securities held to maturity 8,268 7,094
Principal repayments on investment securities available for sale 6,133 3,963
(Purchases) sales of premises and equipment (366) 780
Proceeds from the sale of premises and equipment (16)
Investment in other real estate owned (25) (1)
Proceeds from other real estate owned 1,725 1,023
Redemption of Federal Home Loan Bank stock 93 262
Net cash used in in investing activities (20,286) (83,507)
Financing activities    
Net increase in deposits 117,622 93,714
Net increase in escrowed funds 990 135
Proceeds from long-term advances 39,515
Repayments of long-term advances (36,106) (8,763)
Purchase of treasury stock (90)
Net cash provided by financing activities 82,506 124,511
Net increase in cash and cash equivalents 67,459 40,524
Cash and cash equivalents, beginning of year 61,726 21,469
Cash and cash equivalents, end of year 129,185 61,993
Supplemental disclosures of cash flow information    
Interest 2,442 4,460
Income taxes 2,125 1,450
Non-cash operating activities    
Real estate acquired in full satisfaction of loans in foreclosure 547
Initial recognition of lease liability and right-of-use asset $ 3,835