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Consolidated Statement of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
INTEREST INCOME        
Loans receivable, including fees $ 11,807 $ 11,032 $ 32,173 $ 34,310
Investment securities:        
Taxable 1,632 1,370 4,682 4,558
Exempt from federal income tax 173 73 318 200
Other investment income 173 16 317 63
Total interest income 13,785 12,491 37,490 39,131
INTEREST EXPENSE        
Deposits 2,015 1,757 5,909 5,576
Short-term borrowings 54 27 104 109
Other borrowings 619 858 1,951 2,994
Total interest expense 2,688 2,642 7,964 8,679
NET INTEREST INCOME 11,097 9,849 29,526 30,452
Provision for loan losses 500 1,100 2,000 2,950
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 10,597 8,749 27,526 27,502
NONINTEREST INCOME        
Service fees on deposit accounts 828 797 2,342 2,315
Services charges and fees on loans 283 277 572 774
Trust and investment fees 260 230 701 641
Gain (loss) on sale of investments, net (10) 11 226 749
Gain on sale of loans, net   11   426
Earnings on Bank-owned life insurance 234 235 687 709
Insurance commissions 205 231 625 638
Gain on acquisition 241   241  
Other 59 8 85 32
Total noninterest income 2,100 1,800 5,479 6,284
NONINTEREST EXPENSE        
Compensation and employee benefits 4,912 4,690 13,577 14,314
Occupancy and equipment 1,051 956 3,034 2,935
Professional fees 441 549 1,348 1,453
Data processing 977 687 2,426 2,155
Advertising 243 170 463 425
Federal Deposit Insurance Corporation (FDIC) premiums 266 261 730 739
Gain on foreclosed real estate (65) (100) (116) (498)
Merger related costs 176   522  
Amortization of intangible assets 282 250 756 749
Other 812 691 1,987 2,177
Total noninterest expense 9,095 8,154 24,727 24,449
Income before income taxes 3,602 2,395 8,278 9,337
Income taxes 976 519 2,146 2,542
NET INCOME $ 2,626 $ 1,876 $ 6,132 $ 6,795
Earnings per share        
Basic $ 0.24 $ 0.16 $ 0.56 $ 0.58
Diluted $ 0.24 $ 0.16 $ 0.56 $ 0.58
Dividends per share $ 0.07 $ 0.05 $ 0.19 $ 0.15