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Income Taxes (Tables)

12 Months Ended

Sep. 30, 2022

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, 2022			September 30, 2021
			(In thousands)
Deferred tax assets
Allowance for credit losses			$	47,426		$	45,724
REO reserves			329			173
Non-accrual loan interest			1,104			1,080
Deferred compensation			6,841			6,230
Stock based compensation			2,636			2,508
Lease liability			6,207			6,655
Other			1,329			4,525
Total deferred tax assets			65,872			66,895
Deferred tax liabilities
FHLB stock dividends			9,826			9,783
Valuation adjustment on available-for-sale securities and cash flow hedges			15,765			20,845
Loan origination fees and costs			10,918			5,645
Premises and equipment			20,132			21,426
Lease right-of-use assets			5,992			6,249
Equity investments			5,323			2,982
Other			4,141			6,157
Total deferred tax liabilities			72,097			73,087
Net deferred tax asset (liability)			(6,225)			(6,192)
Current tax asset (liability)			2,920			10,069
Net tax asset (liability)			$	(3,305)		$	3,877

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,			2022			2021			2020
Statutory income tax rate			21		%	21		%	21		%
State income tax			2			2			2
Other differences			(2)			(2)			(2)
Effective income tax rate			21		%	21		%	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,			2022			2021			2020
			(In thousands)
Federal:
Current			$	50,854		$	53,820		$	49,782
Deferred			7,187			(8,468)			(7,858)
			58,041			45,352			41,924
State:
Current			6,600			5,584			5,310
Deferred			(934)			(1,413)			(1,486)
			5,666			4,171			3,824
Total
Current			57,454			59,404			55,092
Deferred			6,253			(9,881)			(9,344)
			$	63,707		$	49,523		$	45,748

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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 https://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 https://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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

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