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Income Taxes (Tables)

12 Months Ended

Sep. 30, 2021

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, 2021			September 30, 2020
			(In thousands)
Deferred tax assets
Allowance for credit losses			$	45,724		$	44,150
REO reserves			173			265
Non-accrual loan interest			1,080			892
Deferred compensation			6,230			3,506
Stock based compensation			2,508			2,218
Lease liability			6,655			7,660
Other			4,525			2,269
Total deferred tax assets			66,895			60,960
Deferred tax liabilities
FHLB stock dividends			9,783			14,637
Valuation adjustment on available-for-sale securities and cash flow hedges			20,845			5,064
Loan origination fees and costs			5,645			7,116
Premises and equipment			21,426			21,399
Lease right-of-use assets			6,249			7,270
Other			9,139			5,767
Total deferred tax liabilities			73,087			61,253
Net deferred tax asset (liability)			(6,192)			(293)
Current tax asset (liability)			10,069			6,001
Net tax asset (liability)			$	3,877		$	5,708

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,			2021			2020			2019
Statutory income tax rate			21		%	21		%	21		%
State income tax			2			2			2
Other differences			(2)			(2)			(3)
Effective income tax rate			21		%	21		%	20		%

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,			2021			2020			2019
			(In thousands)
Federal:
Current			$	53,820		$	49,782		$	46,376
Deferred			(8,468)			(7,858)			1,916
			45,352			41,924			48,292
State:
Current			$	5,584		$	5,310		$	4,557
Deferred			(1,413)			(1,486)			(330)
			4,171			3,824			4,227
Total
Current			59,404			55,092			50,933
Deferred			(9,881)			(9,344)			1,586
			$	49,523		$	45,748		$	52,519

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- 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=121826272&loc=d3e32639-109319

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- 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=121826272&loc=d3e32537-109319

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- 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=121826272&loc=d3e32687-109319

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