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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2024
Income Tax Disclosure [Abstract] |
Schedule 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. With the completion of the Merger, the deferred tax amounts now include a number of deferred tax items carried over from LBC, as well as new deferred tax items created as a consequence of the purchase accounting process and post-merger asset sales. In particular, deferred tax assets now include significant new items for loan purchase discount and loss carryover.
| September 30, 2024 | September 30, 2023
| (In thousands)
Deferred tax assets |  |
Allowance for credit losses | $ | 53,227 |  | $ | 46,191 |
REO reserves | 480 |  | 300 |
Non-accrual loan interest | 3,124 |  | 1,797 |
Accrued bonus and deferred compensation | 7,815 |  | 2,901 |
Stock based compensation | 4,696 |  | 3,089 |
Lease liability | 9,626 |  | 5,367 |
Loan purchase discount | 48,064 |  | — |
Loss carryover | 68,483 |  | — |
Other | 1,739 |  | 2,804 |
Total deferred tax assets | 197,254 |  | 62,449 |
Deferred tax liabilities |  |
FHLB stock dividends | 6,171 |  | 9,741 |
Net unrealized gain on available-for-sale securities and cash flow hedges | 13,758 |  | 13,933 |
Loan origination fees and costs | 11,777 |  | 11,471 |
Premises and equipment | 16,390 |  | 18,155 |
Lease right-of-use assets | 9,304 |  | 4,841 |
Equity investments | 3,700 |  | 4,244 |
Acquired intangibles | 12,824 |  | 4,798 |
Other | 184 |  | 483 |
Total deferred tax liabilities | 74,108 |  | 67,666 |
Net deferred tax asset (liability) | 123,146 |  | (5,217) |
Current tax asset (liability) | (3,898) |  | 13,696 |
Net tax asset (liability) | $ | 119,248 |  | $ | 8,479 |
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, | 2024 | 2023 | 2022
Statutory income tax rate | 21.0 | % | 21.0 | % | 21.0 | %
State income tax | 2.3 |  | 1.7 |  | 1.9 |
Tax-exempt interest income | (2.1) |  | (1.2) |  | (0.9) |
Interest expense disallowance | 1.2 |  | 0.5 |  | 0.1 |
Low-income housing investments | (1.1) |  | (1.3) |  | (0.9) |
Other differences | 0.6 |  | 0.1 |  | — |
Effective income tax rate | 21.9 | % | 20.8 | % | 21.2 | %
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, | 2024 | 2023 | 2022
| (In thousands)
Federal: |  |  |
Current | $ | 54,817 |  | $ | 58,667 |  | $ | 50,854 |
Deferred | (4,767) |  | 3,334 |  | 7,187 |
| 50,050 |  | 62,001 |  | 58,041 |
State: |  |  |
Current | 7,837 |  | 4,425 |  | 6,600 |
Deferred | (1,872) |  | 1,224 |  | (934) |
| 5,965 |  | 5,649 |  | 5,666 |
Total |  |  |
Current | 62,654 |  | 63,092 |  | 57,454 |
Deferred | (6,639) |  | 4,558 |  | 6,253 |
| $ | 56,015 |  | $ | 67,650 |  | $ | 63,707 |

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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
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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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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