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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities    
Net income $ 1,693 $ 1,337
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 209 207
Premium amortization on investment securities, net 58 33
Provision for loan losses 101 640
Provision for loss on other real estate owned 150
Originations of SBA loans held for sale (2,437) (2,513)
Proceeds from the sales of SBA loans 2,718 2,776
Gains on sale of loans receivable (281) (263)
Gains on the sales of other real estate owned (1)
ESOP compensation expense 61 50
Deferred income tax expense (benefit) 26 (134)
Increase in accrued interest receivable (51) (66)
Increase in surrender value of bank owned life insurance (87) (78)
Decrease (increase) in other assets 360 (105)
Decrease in accrued interest payable (4) (39)
Increase in accounts payable and other liabilities (30) (351)
Net cash provided by operating activities 2,336 1,643
Investing activities    
Net decrease in loans receivable 10,934 3,940
Purchases of investment securities held to maturity (10,064) (4,652)
Purchases of investment securities available for sale (4,060)
Principal repayments on investment securities held to maturity 1,221 2,586
Principal repayments on investment securities available for sale 671 3,755
Purchase of bank owned life insurance (3,000)
Purchases of premises and equipment (77) (68)
Investment in other real estate owned (12) (13)
Proceeds from other real estate owned 387
Redemption of Federal Home Loan Bank stock 77
Net cash (used in) provided by investing activities (250) 1,875
Financing activities    
Net increase (decrease) in deposits 7,861 (6,266)
Purchase of common stock for ESOP (98)
Net increase in escrowed funds 35 242
Repayments of long-term advances (2,000) (7,150)
Cash paid on common stock dividends (814)
Net cash provided by (used in) financing activities 4,984 (13,174)
Net increase (decrease) in cash and cash equivalents 7,070 (9,656)
Cash and cash equivalents, beginning of year 75,201 61,726
Cash and cash equivalents, end of year 82,271 52,070
Supplemental disclosures of cash flow information    
Interest $ 575 $ 995