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Consolidated Statement of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2021
Mar. 31, 2020
INTEREST INCOME        
Loans receivable, including fees $ 13,670 $ 14,005 $ 27,430 $ 28,195
Investment securities:        
Taxable 882 1,945 1,879 3,902
Exempt from federal income tax 41 48 81 96
Other investment income 70 346 185 664
Total interest income 14,663 16,344 29,575 32,857
INTEREST EXPENSE        
Deposits 1,589 3,228 3,361 6,561
Short-term borrowings 20 489 209 994
Other borrowings 23 895 62 1,744
Total interest expense 1,632 4,612 3,632 9,299
NET INTEREST INCOME 13,031 11,732 25,943 23,558
Provision for loan losses 900 500 1,800 875
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 12,131 11,232 24,143 22,683
NONINTEREST INCOME        
Service fees on deposit accounts 735 778 1,524 1,605
Services charges and fees on loans 492 341 917 660
Loan swap fees 410 359 621 573
Realized and unrealized gain (loss) on equity securities, net 4 (6) 11 (5)
Trust and investment fees 345 429 676 747
Gain on sale of investment securities available for sale, net 417 160 417 381
Gain on sale of loans, net 669 144 1,487 144
Earnings on Bank-owned life insurance 191 235 534 476
Insurance commissions 166 238 334 446
Other 86 27 129 104
Total noninterest income 3,515 2,705 6,650 5,131
NONINTEREST EXPENSE        
Compensation and employee benefits 6,372 6,077 12,768 12,315
Occupancy and equipment 1,130 1,069 2,197 2,136
Professional fees 524 533 1,057 992
Data processing 1,139 1,085 2,221 2,102
Advertising 152 118 253 234
Federal Deposit Insurance Corporation (FDIC) premiums 281 205 554 338
(Gain) loss on foreclosed real estate (86) 86 (105) 66
Amortization of intangible assets 67 68 135 140
Other 856 583 1,533 1,264
Total noninterest expense 10,435 9,824 20,613 19,587
Income before income taxes 5,211 4,113 10,180 8,227
Income taxes 871 706 1,705 1,410
NET INCOME $ 4,340 $ 3,407 $ 8,475 $ 6,817
Earnings per share        
Basic $ 0.43 $ 0.33 $ 0.84 $ 0.65
Diluted 0.43 0.33 0.84 0.65
Dividends per share $ 0.12 $ 0.11 $ 0.23 $ 0.22