XML 84 R42.htm IDEA: XBRL DOCUMENT
v3.20.2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2020
Income Tax Disclosure [Abstract] |
Summary of major sources of temporary differences and deferred tax effects | 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 financial statement and corresponding tax treatment of income, gains, losses, deductions or credits.
| September 30, 2020 | September 30, 2019
| (In thousands)
Deferred tax assets |  |
Allowance for credit losses | $ | 44,150 |  | $ | 31,494 |
REO reserves | 265 |  | 255 |
Non-accrual loan interest | 892 |  | 891 |
Federal and state tax credits | — |  | 537 |
Deferred compensation | 3,506 |  | 3,022 |
Stock based compensation | 2,218 |  | 1,876 |
Lease liability | 7,660 |  | — |
Other | 2,269 |  | 2,081 |
Total deferred tax assets | 60,960 |  | 40,156 |
Deferred tax liabilities |  |
FHLB stock dividends | 14,637 |  | 14,478 |
Valuation adjustment on available-for-sale securities and cash flow hedges | 5,064 |  | 4,503 |
Loan origination fees and costs | 7,116 |  | 8,385 |
Premises and equipment | 21,399 |  | 25,399 |
Lease right-of-use assets | 7,270 |  | — |
Other | 5,767 |  | 2,851 |
Total deferred tax liabilities | 61,253 |  | 55,616 |
Net deferred tax asset (liability) | (293) |  | (15,460) |
Current tax asset (liability) | 6,001 |  | 10,356 |
Net tax asset (liability) | $ | 5,708 |  | $ | (5,104) |
Schedule of effective income tax rate reconciliation | 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, | 2020 | 2019 | 2018
Statutory income tax rate | 21 | % | 21 | % | 25 | %
State income tax | 2 |  | 2 |  | 2 |
Impact of change in Federal income tax rate | — |  | — |  | (2) |
Other differences | (2) |  | (3) |  | (4) |
Effective income tax rate | 21 | % | 20 | % | 21 | %
Schedule of components of income tax expense (benefit) | The following table summarizes the Company's income tax expense (benefit) for the respective periods.
Year ended September 30, | 2020 | 2019 | 2018
| (In thousands)
Federal: |  |  |
Current | $ | 49,782 |  | $ | 46,376 |  | $ | 40,314 |
Deferred | (7,858) |  | 1,916 |  | 8,952 |
| 41,924 |  | 48,292 |  | 49,266 |
State: |  |  |
Current | $ | 5,310 |  | $ | 4,557 |  | $ | 4,243 |
Deferred | (1,486) |  | (330) |  | (116) |
| 3,824 |  | 4,227 |  | 4,127 |
Total |  |  |
Current | 55,092 |  | 50,933 |  | 44,557 |
Deferred | (9,344) |  | 1,586 |  | 8,836 |
| $ | 45,748 |  | $ | 52,519 |  | $ | 53,393 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration