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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Sep. 30, 2023
Assets    
Cash $ 3,128 $ 3,179
Interest earning deposits with banks 47,989 69,353
Total cash and cash equivalents 51,117 72,532
Investment securities - available for sale, at fair value 12,273 10,125
Investment securities - at amortized cost (fair value of $75,508 and $73,728 at December 31, 2023 and September 30, 2023, respectively) 84,333 85,835
Federal Home Loan Bank of New York stock, at cost 2,254 2,286
Loans receivable 728,560 697,400
Allowance for credit losses (7,683) (8,330)
Bank owned life insurance 18,126 18,030
Accrued interest receivable 4,585 4,337
Premises and equipment, net 12,534 13,339
Other real estate owned ("OREO") 328 328
Other assets 10,312 11,410
Total assets 916,739 907,292
Liabilities    
Deposits 763,548 755,453
Escrowed funds 3,723 3,494
Borrowings 28,796 29,515
Accrued interest payable 656 443
Accounts payable and other liabilities 13,477 13,597
Total liabilities 810,200 802,502
Stockholders' equity    
Preferred stock: $.01 Par Value, 500,000 shares authorized; at December 31, 2023 and September 30, 2023, none issued
Common stock: $.01 Par Value, 14,000,000 shares authorized; 7,097,825 shares issued; 6,654,952 and 6,674,184 shares outstanding at December 31, 2023 and September 30, 2023, respectively, at cost 71 71
Additional paid-in capital 62,962 62,801
Treasury stock: 442,873 and 423,641 shares at December 31, 2023 and September 30, 2023, respectively, at cost (5,554) (5,362)
Unearned Employee Stock Ownership Plan shares (3,047) (3,097)
Retained earnings 53,456 52,166
Accumulated other comprehensive loss (1,349) (1,789)
Total stockholders' equity 106,539 104,790
Total liabilities and stockholders' equity $ 916,739 $ 907,292