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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income $ 5,489 $ 4,510
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 627 622
Premium amortization on investment securities, net 148 119
Provision for loan losses 376 1,353
Provision for loss on other real estate owned 215
Originations of SBA loans held for sale (4,903) (6,386)
Proceeds from the sales of SBA loans 5,456 7,135
Gains on sale of loans receivable (553) (749)
Gains on the sales of other real estate owned (67) (79)
ESOP compensation expense 140 50
Deferred income tax expense (benefit) 86 (348)
(Increase) decrease in accrued interest receivable (17) 148
Increase in surrender value of bank owned life insurance (275) (233)
Increase in other assets (1,015) (2,532)
Decrease in accrued interest payable (29) (102)
Increase in accounts payable and other liabilities 1,119 1,516
Net cash provided by operating activities 6,582 5,239
Investing activities    
Net increase in loans receivable (31,731) (4,864)
Purchases of loans receivable (3,500)
Proceeds from the sale of loans receivable 4,000
Purchases of investment securities held to maturity (39,535) (28,189)
Purchases of investment securities available for sale (10,561)
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 5,886 8,268
Principal repayments on investment securities available for sale 1,523 6,133
Purchase of bank owned life insurance (3,000)
Purchases of premises and equipment (246) (366)
Investment in other real estate owned (12) (25)
Proceeds from other real estate owned 434 1,725
Redemption of Federal Home Loan Bank stock 307 93
Net cash used in investing activities (66,374) (20,286)
Financing activities    
Net increase in deposits 20,007 117,622
Purchase of common stock for ESOP (98)
Net increase in escrowed funds 298 990
Repayments of long-term advances (8,072) (36,106)
Cash paid on common stock dividends (1,223)
Net cash provided by financing activities 10,912 82,506
Net (decrease) increase in cash and cash equivalents (48,880) 67,459
Cash and cash equivalents, beginning of year 75,201 61,726
Cash and cash equivalents, end of year 26,321 129,185
Supplemental disclosures of cash flow information    
Interest 1,638 2,442
Income taxes 2,180 2,125
Non-cash operating activities    
Real estate acquired in full satisfaction of loans in foreclosure $ 547