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ACQUISITIONS | 12 Months Ended
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Sep. 30, 2019
Business Combinations [Abstract] |
ACQUISITIONS | ACQUISITIONS There were no new acquisitions during fiscal year 2019, and there were no pending acquisitions as of September 30, 2019. The Company acquired Crestmark Bancorp, Inc. ("Crestmark") and its bank subsidiary, Crestmark Bank, on August 1, 2018 for a purchase price of $295.8 million paid by issuance of 9,919,512 shares of Meta common stock (the "Crestmark Acquisition"). The initial accounting for certain assets, liabilities and goodwill acquired in the Crestmark Acquisition were incomplete and the initial amounts recorded were considered provisional. The Company recognized certain measurement period adjustments through July 31, 2019 as the one-year measurement period allowed under GAAP expired on August 1, 2019. The following table summarizes the allocation of the purchase price to net assets of Crestmark as of the acquisition date.
(Dollars in Thousands) | Estimated fair value as previously reported(1) |  | Measurement period adjustments |  | Fair value as adjusted
Rental equipment | $ | 98,977 |  |  | $ | (3,355 | ) |  | $ | 95,622 |
Intangible assets | 28,253 |  |  | (117 | ) |  | 28,136 |
Goodwill | 204,547 |  |  | 6,235 |  |  | 210,782 |
Accrued expenses and other liabilities | 88,301 |  |  | 1,199 |  |  | 89,500 |
Net other assets | 55,464 |  |  | (1,564 | ) |  | 53,900 |
Noncontrolling interest | 3,167 |  |  | — |  |  | 3,167 |
Purchase price | 295,773 |  |  | — |  |  | 295,773 |
(1) As previously reported in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2018. Measurement Period Adjustments and Impairment - DC Solar The Company previously purchased a portfolio of mobile solar generators ("MSGs") from DC Solar Solutions, Inc. and certain of its affiliates, a relationship in the Company's solar leasing business, and, in turn, leased the MSGs to DC Solar Distribution, Inc., an affiliate of DC Solar Solutions. During 2019, the Company became aware that the DC Solar entities and their affiliates filed for bankruptcy and the entities, including their principals, are subjects of ongoing federal investigations involving allegations of fraudulent misconduct. The Company had three separate operating leases with DC Solar - two of which were included in the acquired Crestmark balances on August 1, 2018. The third transaction was originated in August 2018, after the closing of the Crestmark Acquisition. The Company considered the bankruptcy filing and fraud allegations as new facts and circumstances and concluded the alleged fraud existed at the acquisition date for the acquired DC Solar transactions. As a result, the identified impairment for the acquired DC Solar transactions and other related adjustments were recorded as measurement period adjustments to the acquired assets and liability amounts recognized and were offset through provisional goodwill. The impairment and related adjustments for the DC Solar transaction originated post-acquisition are reflected in current earnings. The Company has repossessed 173 of the 176 underlying assets and is in the process of performing repairs and general maintenance to the assets where needed to ensure they are in prime condition for re-lease. The adjustments to goodwill and impairment recognized for the DC Solar events reflect the Company's best estimate of the potential loss incurred, based on the Company's understanding of the relevant facts at September 30, 2019. Assumptions utilized in the estimate included recoverability of the MSGs and the Company's ability to re-lease them, contractual rents, and residual values. As the measurement period expired on August 1, 2019, any additional exposure identified as new facts and circumstances that become available will be reflected in current earnings. The table below reflects the net impact of the foregoing DC Solar matters, based upon the Company's understanding of the relevant facts and circumstances at September 30, 2019, to the Company's financial statements at September 30, 2019 and for the fiscal year ended September 30, 2019.
|  | Increase (Decrease)
Balance Sheet: | (Dollars in Thousands)
| Operating lease equipment | $ | (12,589 | )
| Goodwill | 1,968 |
| Other assets | (394 | )
| Liabilities | (4,461 | )
| Total balance sheet impact | $ | (6,554 | )
| Regulatory capital impact | $ | (8,522 | )
|  | Income (Expense)
Income Statement: |
| Rental income | $ | 1,633 |
| Other income | 315 |
| Impairment | (9,549 | )
| Income tax benefit | 1,047 |
| Impact to net income | $ | (6,554 | )
Measurement Period Adjustments - Other The Company recorded additional measurement period adjustments in 2019 for provisional tax, compensation liabilities and other liabilities assumed through the Crestmark Acquisition. The Company obtained additional information about facts and circumstances existing at the Crestmark Acquisition date that resulted in a net increase to liabilities and goodwill recognized of $3.8 million.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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