Parent Company

12 Months Ended

Sep. 30, 2024

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,
	2024		2023
ASSETS
Cash and due from banks	$	3,714	$	5,564
Equity securities		26		32
Investment in subsidiary		223,169		210,505
Premises and equipment, net		371		381
Other assets		3,314		3,377
TOTAL ASSETS	$	230,594	$	219,859
LIABILITIES AND STOCKHOLDERS’ EQUITY
Other liabilities	$	173	$	151
Stockholders’ equity		230,421		219,708
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	230,594	$	219,859

CONDENSED STATEMENT OF INCOME

	Year Ended September 30,
	2024			2023
INCOME
Interest income	$	937		$	718
Unrealized (loss) gain on equity securities		(6	)		4
Dividends		8,000			6,000
Other		15			-
Total income		8,946			6,722
EXPENSES
Professional fees		466			657
Other		30			30
Total expenses		496			687
Income before income tax benefit		8,450			6,035
Income tax benefit		96			7
Income before equity in undistributed net earnings of subsidiary		8,354			6,028
Equity in undistributed net earnings of subsidiary		8,638			12,548
NET INCOME	$	16,992		$	18,576
COMPREHENSIVE INCOME	$	19,920		$	11,977

CONDENSED STATEMENT OF CASH FLOWS

	Year Ended September 30,
	2024			2023
OPERATING ACTIVITIES
Net income	$	16,992		$	18,576
Adjustments to reconcile net income to net cash provided by    operating activities:
Equity in undistributed net earnings of subsidiary		(8,638	)		(12,548	)
Provision for depreciation		10			10
Increase in accrued income taxes		(96	)		(1,443	)
Increase in accrued interest receivable		-			(248	)
Other, net		850			721
Net cash provided by operating activities		9,118			5,068
FINANCING ACTIVITIES
Purchase of treasury stock shares		(5,063	)		-
Dividends on common stock		(5,905	)		(5,859	)
Net cash used for financing activities		(10,968	)		(5,859	)
Decrease in cash		(1,850	)		(791	)
CASH AT BEGINNING OF YEAR		5,564			6,355
CASH AT END OF YEAR	$	3,714		$	5,564