v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income $ 9,259 $ 7,235
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 644 710
Discount on investment securities, net (67) (6)
Provision for credit losses 630 172
Provision for loss on other real estate owned 58
Originations of SBA loans held for sale (8,893) (8,941)
Proceeds from the sales of SBA loans 9,722 9,790
Gains on sale of SBA loans (830) (848)
Loss (gain) on the sales of other real estate owned 14 (287)
ESOP compensation expense 161 134
Stock-based compensation expense 465 466
Deferred income tax benefit (185) (229)
Decrease (increase) in accrued interest receivable 39 (318)
Income on bank owned life insurance (506) (501)
(Increase) decrease in other assets (1,149) 1,393
Increase (decrease) in accrued interest payable 514 (143)
Increase (decrease) in accounts payable and other liabilities 2,312 (1,142)
Net cash provided by operating activities 12,130 7,543
Investing activities    
Net increase in loans receivable (31,385) (63,490)
Purchases of investment securities held-to-maturity (3,179) (2,446)
Purchases of investment securities available-for-sale (18,695) (6,915)
Proceeds from maturities of investment securities held-to-maturity 8,500
Principal repayments on investment securities held-to-maturity 3,548 4,232
Principal repayments on investment securities available-for-sale 2,644 1,084
Redemption of bank owned life insurance 3,245
Purchases of premises and equipment, net (795) (522)
Proceeds from the sale of other real estate owned 2,131 1,788
Purchase of Federal Home Loan Bank stock (150) (545)
Redemption of Federal Home Loan Bank stock 86 68
Net cash used in investing activities (45,795) (55,001)
Financing activities    
Net increase in deposits 39,562 23,288
Net increase in escrowed funds 670 306
Proceeds from long-term advances 8,986
Repayments of long-term advances (1,500)
Proceeds from exercise of stock options 38 24
Dividends paid on common stock (1,766) (1,322)
Purchase of treasury stock (454) (869)
Net cash provided by financing activities 38,050 28,913
Net increase in cash and cash equivalents 4,385 (18,545)
Cash and cash equivalents, beginning of period 7,086 25,596
Cash and cash equivalents, end of period 11,471 7,051
Cash paid for    
Interest 16,740 17,062
Income taxes 2,800 3,925
Non-cash operating activities    
Initial recognition of lease liability and right-of-use asset 175
Change in fair value of swap asset/liability $ (226) $ (428)