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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities      
Net income $ 27,118 $ 23,600 $ 27,583
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 1,381 1,367 1,563
Deferred income taxes (291) (177) 275
Amortization of CDI 271 316 361
Accretion of discount on purchased loans (75) (182) (340)
Stock option compensation expense 320 246 173
Gain on sales of investment securities, net (95) 0 0
Net recoveries on investment securities (9) (22) (20)
Change in fair value of investments in equity securities 24 120 22
Gain on sales of OREO and other repossessed assets, net 0 (2) (92)
Amortization (accretion) of discounts and premiums on securities (1,223) (39) 118
Gain on sales of loans, net (244) (1,510) (5,904)
(Gain) loss on sales/dispositions of premises and equipment, net (19) 13 0
Provision for loan losses 2,132 270 0
Loans originated for sale (10,946) (55,136) (133,006)
Proceeds from sales of loans 11,538 59,115 140,202
Amortization of loan servicing rights 1,012 1,156 1,111
Valuation adjustment on loan servicing rights, net 0 (119) (110)
BOLI net earnings (627) (613) (597)
BOLI death benefit in excess of cash surrender value (79) 0 0
Increase (decrease) in deferred loan origination fees 921 (822) (1,293)
Net change in accrued interest receivable and other assets, and other liabilities and accrued expenses (112) (1,081) (411)
Net cash provided by operating activities 30,997 26,500 29,635
Cash flows from investing activities      
Net decrease in CDs held for investment 7,706 5,588 37,063
Purchase of investment securities held to maturity (15,602) (208,778) (53,049)
Purchase of investment securities available for sale (16,994) 0 (18,698)
Proceeds from maturities and prepayments of investment securities held to maturity 13,123 11,661 12,004
Proceeds from maturities and prepayments of investment securities available for sale 7,442 20,448 13,162
Proceeds from sales of investment securities available for sale 8,927 0 0
Purchase of FHLB stock (1,408) (91) (181)
(Increase) decrease in loans receivable, net (172,857) (163,238) 47,054
Purchase of premises and equipment (1,106) (911) (895)
Proceeds from sales of OREO and other repossessed assets 0 159 985
Proceeds from death benefit on BOLI 546 0 0
Net cash provided by (used in) investing activities (170,223) (335,162) 37,445
Cash flows from financing activities      
Net (decrease) increase in deposits (71,241) 61,621 212,149
Proceeds from (repayment of) FHLB borrowings (35,000)    
Proceeds from (repayment of) FHLB borrowings   5,000 5,000
Proceeds from exercise of stock options 698 415 631
Repurchase of common stock (4,998) (4,583) (527)
Payment of dividends (8,267) (7,232) (8,589)
Net cash (used in) provided by financing activities (48,808) 45,221 198,664
Net increase (decrease) in cash and cash equivalents (188,034) (263,441) 265,744
Beginning of year 316,755 580,196 314,452
End of year 128,721 316,755 580,196
Supplemental disclosure of cash flow information      
Income taxes paid 6,989 5,450 5,965
Interest paid 10,303 2,700 3,244
Supplemental disclosure of non-cash investing and financing activities      
Other comprehensive loss related to investment securities (367) (776) (2)
Operating lease liabilities arising from recording of ROU assets $ 72 $ 0 $ 0