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Income Taxes | 12 Months Ended
--- | ---
Sep. 30, 2016
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES The table below provides a summary of the Company's tax assets and liabilities, including deferred tax assets and deferred tax liabilities by major source. Deferred tax balances represent temporary differences between the tax basis and the financial statement carrying amounts of assets and liabilities.
| September 30, 2016 | September 30, 2015
| (In thousands)
Deferred tax assets |  |
Loan loss reserves | $ | 45,531 |  | $ | 43,749 |
REO reserves | 4,018 |  | 11,213 |
Valuation adjustment on available-for-sale securities and cash flow hedges | 6,482 |  | — |
Asset purchase tax basis difference (net) | — |  | 5,973 |
Delinquent accrued interest | 2,812 |  | 3,069 |
FDIC loss share guarantee receivable | 9,598 |  | 7,803 |
Other, net | 3,210 |  | 3,891 |
Total deferred tax assets | 71,651 |  | 75,698 |
Deferred tax liabilities |  |
Federal Home Loan Bank stock dividends | 24,135 |  | 24,135 |
Valuation adjustment on available-for-sale securities and cash flow hedges | — |  | 205 |
Asset purchase tax basis difference (net) | 2,830 |  |
Loan origination costs | 14,826 |  | 13,875 |
Depreciation | 34,936 |  | 25,934 |
Total deferred tax liabilities | 76,727 |  | 64,149 |
Net deferred tax asset (liability) | (5,076 | ) | 11,549 |
Current tax asset | 21,123 |  | 2,964 |
Net tax asset | $ | 16,047 |  | $ | 14,513 |
The table below presents a reconciliation of the statutory federal income tax rate to the Company's effective income tax rate.
Year ended September 30, | 2016 | 2015 | 2014
Statutory income tax rate | 35 | % | 35 | % | 35 | %
State income tax | 1 |  | 2 |  | 2 |
Other differences | (2 | ) | (1 | ) | (1 | )
Effective income tax rate | 34 | % | 36 | % | 36 | %
The following table summarizes the Company's income tax expense (benefit) for the respective periods.
Year ended September 30, | 2016 | 2015 | 2014
| (In thousands)
Federal: |  |  |
Current | $ | 57,173 |  | $ | 79,841 |  | $ | 70,797 |
Deferred | 21,961 |  | 3,244 |  | 10,591 |
| 79,134 |  | 83,085 |  | 81,388 |
State: |  |  |
Current | $ | 3,600 |  | $ | 6,636 |  | $ | 4,987 |
Deferred | 1,351 |  | (518 | ) | 1,189 |
| 4,951 |  | 6,118 |  | 6,176 |
Total |  |  |
Current | 60,773 |  | 86,477 |  | 75,784 |
Deferred | 23,312 |  | 2,726 |  | 11,780 |
| $ | 84,085 |  | $ | 89,203 |  | $ | 87,564 |
Based on current information the Company does not expect that changes in the amount of unrecognized tax benefits over the next twelve months will have a significant impact on its results of operations or financial position. The Company's liability for uncertain tax positions was $105,000 as of September 30, 2016 and $110,000 as of September 30, 2015. These amounts, if recognized, would affect the Company's effective tax rate. The Company records interest and penalties related to uncertain tax positions in income tax expense. The Company's federal income tax returns are open for the tax years 2013 forward. The Company has been examined by the Internal Revenue Service through the year ended September 30, 2012. State income tax returns are generally subject to examination for a period of three to five years after filing of the respective return. The state impact of any federal changes remains subject to examination by various states for a period of up to two years after formal notification to the states. The Company's unrecognized tax benefits are related to state tax returns open from 2013 through 2016.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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