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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Sep. 30, 2023
Assets    
Cash $ 3,413 $ 3,179
Interest earning deposits with banks 46,576 69,353
Total cash and cash equivalents 49,989 72,532
Investment securities - available for sale, at fair value 11,913 10,125
Investment securities - at amortized cost (fair value of $74,104 and $73,728 at March 31, 2024 and September 30, 2023, respectively) 83,438 85,835
Federal Home Loan Bank of New York stock, at cost 2,272 2,286
Loans receivable 741,712 697,400
Allowance for credit losses-loans (7,694) (8,330)
Bank owned life insurance 18,217 18,030
Accrued interest receivable 4,752 4,337
Premises and equipment, net 12,436 13,339
Other real estate owned ("OREO") 1,170 328
Other assets 10,359 11,410
Total assets 928,564 907,292
Liabilities    
Deposits 774,888 755,453
Escrowed funds 4,621 3,494
Borrowings 28,796 29,515
Accrued interest payable 689 443
Accounts payable and other liabilities 11,935 13,597
Total liabilities 820,929 802,502
Stockholders' equity    
Preferred stock: $.01 Par Value, 500,000 shares authorized; at March 31, 2024 and September 30, 2023, none issued
Common stock: $.01 Par Value, 14,000,000 shares authorized; 7,097,825 shares issued; 6,602,439 and 6,674,184 shares outstanding at March 31, 2024 and September 30, 2023, respectively, at cost 71 71
Additional paid-in capital 63,133 62,801
Treasury stock: 495,386 and 423,641 shares at March 31, 2024 and September 30, 2023, respectively, at cost (6,162) (5,362)
Unearned Employee Stock Ownership Plan shares (3,022) (3,097)
Retained earnings 55,027 52,166
Accumulated other comprehensive loss (1,412) (1,789)
Total stockholders' equity 107,635 104,790
Total liabilities and stockholders' equity $ 928,564 $ 907,292