XML 36 R8.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Mar. 31, 2015
Mar. 31, 2014
OPERATING ACTIVITIES    
Net income $ 5,028us-gaap_NetIncomeLoss $ 3,506us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 975us-gaap_ProvisionForLoanAndLeaseLosses 1,500us-gaap_ProvisionForLoanAndLeaseLosses
Provision for depreciation and amortization 641us-gaap_DepreciationDepletionAndAmortization 583us-gaap_DepreciationDepletionAndAmortization
Amortization and accretion of discounts and premiums, net 145us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 467us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
Net gain on sale of investment securities (204)us-gaap_GainLossOnSaleOfSecuritiesNet (236)us-gaap_GainLossOnSaleOfSecuritiesNet
Compensation expense on ESOP 269us-gaap_EmployeeStockOwnershipPlanESOPCompensationExpense 250us-gaap_EmployeeStockOwnershipPlanESOPCompensationExpense
Stock based compensation 51us-gaap_ShareBasedCompensation 122us-gaap_ShareBasedCompensation
Decrease in accrued interest receivable 159us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet 222us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet
Decrease in accrued interest payable (18)us-gaap_IncreaseDecreaseInInterestPayableNet (24)us-gaap_IncreaseDecreaseInInterestPayableNet
Earnings on bank-owned life insurance (470)us-gaap_BankOwnedLifeInsuranceIncome (453)us-gaap_BankOwnedLifeInsuranceIncome
Deferred federal income taxes (339)us-gaap_DeferredIncomeTaxesAndTaxCredits (148)us-gaap_DeferredIncomeTaxesAndTaxCredits
Gain on foreclosed real estate, net (175)us-gaap_GainsLossesOnSalesOfOtherRealEstate (51)us-gaap_GainsLossesOnSalesOfOtherRealEstate
Amortization of identifiable intangible assets 329us-gaap_AmortizationOfIntangibleAssets 474us-gaap_AmortizationOfIntangibleAssets
Other, net 2,220us-gaap_OtherOperatingActivitiesCashFlowStatement 994us-gaap_OtherOperatingActivitiesCashFlowStatement
Net cash provided by operating activities 8,611us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 7,206us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
INVESTING ACTIVITIES    
Maturities of certificates of deposit 15essa_MaturitiesOfCertificatesOfDeposit  
Investment securities available for sale:    
Proceeds from sale of investment securities 3,319us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities 8,065us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities
Proceeds from principal repayments and maturities 30,318us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 37,245us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
Purchases (29,317)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (45,221)us-gaap_PaymentsToAcquireAvailableForSaleSecurities
(Increase) decrease in loans receivable, net (22,416)us-gaap_IncreaseDecreaseInFinanceReceivables 20,065us-gaap_IncreaseDecreaseInFinanceReceivables
Redemption of regulatory stock 7,441us-gaap_ProceedsFromSaleOfFederalHomeLoanBankStock 1,484us-gaap_ProceedsFromSaleOfFederalHomeLoanBankStock
Purchase of regulatory stock (6,801)us-gaap_PaymentsToAcquireFederalHomeLoanBankStock (2,422)us-gaap_PaymentsToAcquireFederalHomeLoanBankStock
Proceeds from sale of foreclosed real estate 2,031us-gaap_ProceedsFromSaleOfOtherRealEstate 1,367us-gaap_ProceedsFromSaleOfOtherRealEstate
Acquisition, including cash acquired   4,654us-gaap_CashAcquiredFromAcquisition
Capital improvements to foreclosed real estate 13us-gaap_RealEstateImprovements  
Purchase of premises, equipment, and software (454)us-gaap_PaymentsToAcquireProductiveAssets (267)us-gaap_PaymentsToAcquireProductiveAssets
Net cash (used for) provided by investing activities (15,851)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations 24,970us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
FINANCING ACTIVITIES    
Decrease in deposits, net (30,092)us-gaap_IncreaseDecreaseInDeposits (51,381)us-gaap_IncreaseDecreaseInDeposits
Net increase in short-term borrowings 1,981us-gaap_ProceedsFromRepaymentsOfShortTermDebt 15,000us-gaap_ProceedsFromRepaymentsOfShortTermDebt
Proceeds from other borrowings 37,860us-gaap_ProceedsFromOtherDebt 30,500us-gaap_ProceedsFromOtherDebt
Repayment of other borrowings (9,200)us-gaap_RepaymentsOfOtherDebt (14,210)us-gaap_RepaymentsOfOtherDebt
Increase in advances by borrowers for taxes and insurance 4,472essa_IncreaseDecreaseInAdvancesByBorrowersForTaxesAndInsurance 3,908essa_IncreaseDecreaseInAdvancesByBorrowersForTaxesAndInsurance
Purchase of treasury stock shares (1,803)us-gaap_PaymentsForRepurchaseOfCommonStock (676)us-gaap_PaymentsForRepurchaseOfCommonStock
Dividends on common stock (1,669)us-gaap_PaymentsOfDividendsCommonStock (1,303)us-gaap_PaymentsOfDividendsCommonStock
Net cash provided by (used for) financing activities 1,549us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (18,162)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
(Decrease) increase in cash and cash equivalents (5,691)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 14,014us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 22,301us-gaap_CashAndCashEquivalentsAtCarryingValue 26,648us-gaap_CashAndCashEquivalentsAtCarryingValue
CASH AND CASH EQUIVALENTS AT END OF PERIOD 16,610us-gaap_CashAndCashEquivalentsAtCarryingValue 40,662us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash Paid:    
Interest 5,253us-gaap_InterestPaid 5,300us-gaap_InterestPaid
Income taxes   2us-gaap_IncomeTaxesPaidNet
Noncash items:    
Transfers from loans to foreclosed real estate 1,589us-gaap_TransferOfOtherRealEstate 1,373us-gaap_TransferOfOtherRealEstate
Acquisition of FNCB:    
Cash received   4,640us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Noncash assets acquired    
Loans receivable and accrued interest receivable   1,033essa_LoansReceivableAndAccruedInterestReceivable
Premises and equipment   1,626us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
Goodwill   1,442essa_NoncashOrPartNoncashAcquisitionGoodwillAcquired
Total non cash assets   4,101us-gaap_NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
Liabilities assumed:    
Certificates of deposit   3,069essa_BusinessAcquisitionPurchasePriceAllocationCertificatesOfDeposits
Deposits other than certificates of deposit   5,683essa_BusinessAcquisitionPurchasePriceAllocationOtherDeposit
Total liabilities   8,752us-gaap_NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
Net noncash assets acquired   (4,651)us-gaap_NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
Cash acquired   $ 11essa_NoncashOrPartNoncashAcquisitionCashAcquired