Income Taxes (Tables)

9 Months Ended

Jun. 30, 2017

Income tax expense (benefit) for each of the periods shown below consisted of the following:



	Nine months ended June 30, 2017		Nine months ended June 30, 2016 (As Restated)
Current tax provision
Federal	$	908	$	825
State	166		139
	1,074		964
Deferred tax provision
Federal	385		313
State	71		54
	456		367
Total	$	1,530	$	1,331

The provision for income taxes differs from the amount of income tax determined by applying statutory federal income tax rates to pretax income

The provision for income taxes differs from the amount of income tax determined by applying statutory federal income tax rates to pretax income as result of the following differences:



	Nine months ended June 30, 2017					Nine months ended June 30, 2016 (As Restated)
	Amount			Rate		Amount			Rate
Tax expense at statutory rate	$	1,526		34.0	%	$	1,268		34.0	%
State income taxes net of federal taxes	237			5.3		192			5.2
Tax exempt interest	(168		)	(3.8	)	(118		)	(3.2	)
Other	(65		)	(1.4	)	(11		)	(0.3	)
Total	$	1,530		34.1	%	$	1,331		35.7	%

Deferred tax assets and liabilities

The following is a summary of the significant components of the Company’s deferred tax assets and liabilities as of June 30, 2017 and September 30, 2016, respectively:



	June 30, 2017			September 30, 2016
Deferred tax assets:
Allowance for loan losses	$	2,254		$	2,377
Deferred loan costs/fees	55			77
Director/officer compensation plans	79			299
Net unrealized loss on securities available for sale	93			—
Economic performance accruals	—			131
Other	139			177
Deferred tax assets	2,620			3,061
Deferred tax liabilities:
Office properties and equipment	(213		)	(291		)
Net unrealized gain on securities available for sale	—			(409		)
Other	(98		)	(98		)
Deferred tax liabilities	(311		)	(798		)
Net deferred tax assets	$	2,309		$	2,263