Parent Company

12 Months Ended

Sep. 30, 2023

Condensed Financial Information Disclosure [Abstract]

Parent Company

18.PARENT COMPANY

Condensed financial statements of ESSA Bancorp, Inc. are as follows (in thousands):

CONDENSED BALANCE SHEET

	September 30,
	2023		2022
ASSETS
Cash and due from banks	$	5,564	$	6,355
Equity securities		32		36
Investment in subsidiary		210,505		203,998
Premises and equipment, net		381		391
Other assets		3,377		1,702
TOTAL ASSETS	$	219,859	$	212,482
LIABILITIES AND STOCKHOLDERS’ EQUITY
Other liabilities	$	151	$	145
Stockholders’ equity		219,708		212,337
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	219,859	$	212,482

CONDENSED STATEMENT OF INCOME

	Year Ended September 30,
	2023		2022
INCOME
Interest income	$	718	$	334
Unrealized gain on equity securities		4		(4	)
Dividends		6,000		10,000
Total income		6,722		10,330
EXPENSES
Professional fees		657		537
Other		30		30
Total expenses		687		567
Income before income tax benefit		6,035		9,763
Income tax benefit		7		(52	)
Income before equity in undistributed net earnings of subsidiary		6,028		9,815
Equity in undistributed net earnings of subsidiary		12,548		10,255
NET INCOME	$	18,576	$	20,070
COMPREHENSIVE INCOME	$	11,977	$	16,494

CONDENSED STATEMENT OF CASH FLOWS

	Year Ended September 30,
	2023			2022
OPERATING ACTIVITIES
Net income	$	18,576		$	20,070
Adjustments to reconcile net income to net cash provided by    operating activities:
Equity in undistributed net earnings of subsidiary		(12,548	)		(10,255	)
Provision for depreciation		10			10
Increase in accrued income taxes		(1,443	)		52
Decrease (increase) in accrued interest receivable		(248	)		8
Other, net		721			424
Net cash provided by operating activities		5,068			10,309
FINANCING ACTIVITIES
Purchase of treasury stock shares		-			(1,884	)
Dividends on common stock		(5,859	)		(5,273	)
Net cash used for financing activities		(5,859	)		(7,157	)
Decrease in cash		(791	)		3,152
CASH AT BEGINNING OF YEAR		6,355			3,203
CASH AT END OF YEAR	$	5,564		$	6,355