Consolidated Statement of Operations (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
Mar. 31, 2024 |
Mar. 31, 2023 |
||||||||
| INTEREST INCOME | |||||||||||
| Loans receivable, including fees | $ 21,724 | $ 17,504 | $ 43,138 | $ 33,589 | |||||||
| Investment securities: | |||||||||||
| Taxable | 2,750 | 2,096 | 6,637 | 4,187 | |||||||
| Exempt from federal income tax | 10 | 10 | 21 | 21 | |||||||
| Other investment income | 1,166 | 444 | 1,944 | 876 | |||||||
| Total interest income | 25,650 | 20,054 | 51,740 | 38,673 | | | |||||
| INTEREST EXPENSE | |||||||||||
| Deposits | 7,590 | 3,817 | 16,052 | 5,818 | |||||||
| Short-term borrowings | 3,064 | 1,127 | 5,720 | 2,085 | |||||||
| Other borrowings | 142 | 250 | |||||||||
| Total interest expense | 10,796 | 4,944 | 22,022 | 7,903 | | ||||||
| NET INTEREST INCOME | 14,854 | 15,110 | 29,718 | 30,770 | | ||||||
| (Release of) provision for credit losses | (496) | 150 | (893) | 300 | | | | | |||
| NET INTEREST INCOME AFTER (RELEASE OF) PROVISION FOR CREDIT LOSSES | 15,350 | 14,960 | 30,611 | 30,470 | | | | | |||
| NONINTEREST INCOME | | | | | |||||||
| Service fees on deposit accounts | 674 | 762 | 1,370 | 1,561 | | | | | |||
| Services charges and fees on loans | 295 | 330 | 625 | 697 | | | | | |||
| Loan swap fees | 74 | 136 | 74 | 138 | | | | | |||
| Unrealized loss on equity securities, net | (2) | (5) | (5) | (3) | | | | | |||
| Trust and investment fees | 418 | 403 | 811 | 805 | | | | | |||
| Gain on sale of loans, net | 58 | 58 | 176 | 58 | | | | | |||
| Earnings on bank-owned life insurance | 220 | 195 | 432 | 386 | | | | | |||
| Insurance commissions | 134 | 168 | 262 | 314 | | | | | |||
| Other | 133 | 22 | 220 | 28 | | | | | |||
| Total noninterest income | 2,004 | 2,069 | 3,965 | 3,984 | | | | | | ||
| NONINTEREST EXPENSE | | | | | |||||||
| Compensation and employee benefits | 6,673 | 6,792 | 13,419 | 13,532 | | | | | |||
| Occupancy and equipment | 1,228 | 1,109 | 2,457 | 2,155 | | | | | |||
| Professional fees | 1,039 | 1,115 | 2,064 | 2,358 | | | | | |||
| Data processing | 1,360 | 1,222 | 2,702 | 2,401 | | | | | |||
| Advertising | 239 | 168 | 375 | 354 | | | | | |||
| Federal Deposit Insurance Corporation (FDIC) premiums | 475 | 180 | 855 | 368 | | | | | |||
| Foreclosed real estate | 101 | (3) | | | | | |||||
| Amortization of intangible assets | 44 | 48 | 91 | 95 | | | | | |||
| Other | 656 | 658 | 1,507 | 1,466 | | | | | |||
| Total noninterest expense | 11,714 | 11,292 | 23,571 | 22,726 | | | | | | | |
| Total Other Income Expenses | 42294.0 | 41542.0 | 84800.0 | 83602.0 | 0.0 | |
| ||||
| Total Other Income Expenses | 12586.0 | 11922.0 | 25364.0 | 23262.0 | 0.0 | |
| | |||
| Total Other Income Expenses | 11594.0 | 11622.0 | 23578.0 | 22662.0 | 0.0 | |
| | |||
| Total Other Income Expenses | 43286.0 | 41842.0 | 86586.0 | 84202.0 | 0.0 | |
| ||||
| Income before income taxes | 5,640 | 5,737 | 11,005 | 11,728 | | | | ||||
| Total NonInterest Income Expenses | -9710.0 | -9223.0 | -19606.0 | -18742.0 | 0.0 | |
|||||
| Income taxes | 1,078 | 1,052 | 2,106 | 2,177 | | ||||||
| NET INCOME | $ 4,562 | $ 4,685 | $ 8,899 | $ 9,551 | | ||||||
| Earnings per share | |||||||||||
| Basic | $ 0.48 | $ 0.48 | $ 0.93 | $ 0.98 | |||||||
| Diluted | 0.48 | 0.48 | 0.93 | 0.98 | |||||||
| Dividends per share | $ 0.15 | $ 0.15 | $ 0.3 | $ 0.3 | |||||||
| X | ||||||||||
- Definition Gains (losses) on foreclosed real estate. No definition available.
|
| X | ||||||||||
- Definition Interest expense, other borrowings. No definition available.
|
| X | ||||||||||
- Definition Loan swap fees. No definition available.
|
| X | ||||||||||
- Definition (Release of) provision for credit losses. No definition available.
|
| X | ||||||||||
- Definition Service fees on deposit accounts. No definition available.
|
| X | ||||||||||
- Definition Services charges and fees on loans. No definition available.
|
| X | ||||||||||
- Definition Trust and investment fees. No definition available.
|
| X | ||||||||||
- Definition Unrealized gain (loss) on equity securities. No definition available.
|
| X | ||||||||||
- Definition Amount charged to advertising expense for the period, which are expenses incurred with the objective of increasing revenue for a specified brand, product or product line. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Earnings on or other increases in the value of the cash surrender value of bank owned life insurance policies. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of expense for Federal Deposit Insurance Corporation (FDIC) insurance. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The net gain (loss) resulting from a sale of loans, including adjustments to record loans classified as held-for-sale at the lower-of-cost-or-market and fair value adjustments to loan held for investment purposes. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of expenses incurred in the period for information technology and data processing products and services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Income from agency and brokerage operations (includes sales of annuities and supplemental contracts); service charges, commissions, and fees from the sale of insurance and related services; and management fees from separate accounts, deferred annuities, and universal life products. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Aggregate amount of interest expense on all deposits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The aggregate interest expense incurred on short-term borrowings including commercial paper and Federal funds purchased and securities sold under agreements to repurchase. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of interest income or expense, including any amortization and accretion (as applicable) of discounts and premiums, including consideration of the provisions for loan, lease, credit, and other related losses. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The net amount of operating interest income (expense). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of operating interest income, including amortization and accretion of premiums and discounts, on securities exempt from state, federal and other income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of operating interest income, including amortization and accretion of premiums and discounts, on securities subject to state, federal and other income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Total aggregate amount of all noninterest expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of revenue earned, classified as other, excluding interest income. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
|
| X | ||||||||||
- Definition Amount, after discount, accretion and premium amortization, of interest income and dividend income classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of noninterest expense classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|