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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2018
Mar. 31, 2017
Interest and dividend income        
Loans receivable and loans held for sale $ 9,484 $ 8,840 $ 18,812 $ 17,628
Investment securities 39 68 96 138
Dividends from mutual funds, FHLB stock and other investments 26 12 52 37
Interest-bearing deposits in banks and CDs 741 379 1,364 660
Total interest and dividend income 10,290 9,299 20,324 18,463
Interest expense        
Deposits 666 545 1,266 1,088
FHLB borrowings 0 302 0 610
Total interest expense 666 847 1,266 1,698
Net interest income 9,624 8,452 19,058 16,765
Recapture of loan losses 0 (250) 0 (250)
Net interest income after recapture of loan losses 9,624 8,702 19,058 17,015
Non-interest income        
Recoveries (other than temporary impairment OTTI) on investment securities (14) 0 (41) 0
Adjustment for portion of OTTI transferred from other comprehensive income before income taxes 0 0 (5) 0
Net recoveries on investment securities (14) 0 (36) 0
Service charges on deposits 1,132 1,090 2,310 2,195
ATM and debit card interchange transaction fees 883 793 1,727 1,593
BOLI net earnings 137 136 273 273
Gain on sales of loans, net 470 406 992 1,095
Escrow fees 52 64 112 140
Servicing income on loans sold 117 99 233 196
Other, net 277 263 536 576
Total non-interest income, net 3,082 2,851 6,219 6,068
Non-interest expense        
Salaries and employee benefits 4,001 3,755 7,950 7,435
Premises and equipment 799 776 1,567 1,531
Gain on sales of premises and equipment, net 113 0 113 0
Advertising 176 167 386 329
OREO and other repossessed assets, net 91 (12) 204 18
ATM and debit card interchange transaction fees 318 350 648 662
Postage and courier 131 120 237 214
State and local taxes 168 152 329 308
Professional fees 243 199 460 399
Federal Deposit Insurance Corporation (FDIC) insurance 75 107 141 221
Loan administration and foreclosure 92 (1) 171 93
Data processing and telecommunications 495 464 962 914
Deposit operations 252 240 530 549
Other 493 540 925 995
Total non-interest expense 7,221 6,857 14,397 13,668
Income before income taxes 5,485 4,696 10,880 9,415
Provision for income taxes 1,216 1,568 2,997 3,140
Net income $ 4,269 $ 3,128 $ 7,883 $ 6,275
Net income per common share        
Basic (in dollars per share) $ 0.58 $ 0.44 $ 1.08 $ 0.90
Diluted (in dollars per share) $ 0.57 $ 0.42 $ 1.05 $ 0.86
Weighted average common shares outstanding        
Basic (in shares) 7,328,127 7,135,083 7,320,243 6,997,420
Diluted (in shares) 7,512,058 7,379,353 7,510,092 7,306,644
Dividends paid per common share (in dollars per share) $ 0.13 $ 0.11 $ 0.24 $ 0.2