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INCOME TAXES (Tables)

9 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The Company’s effective tax rate in the future will depend in part on actual investment tax credits earned as part of its financing of solar energy projects.

The table below compares the income tax expense components for the periods presented.

Nine Months Ended June 30,	2019				2018
(Dollars in Thousands)
Provision at statutory rate	$	15,449			$	13,639
Tax-exempt income	(2,360		)		(5,506		)
State income taxes	3,243				2,314
Interim period effective rate adjustment	1,397				(1,070		)
Tax credit investments, net - federal	(22,484		)		—
Tax Reform rate adjustment	—				3,635
IRC 162(m) nondeductible compensation	1,612				—
Other, net	(101		)		(304		)
Income tax expense	$	(3,244	)		$	12,708
Effective tax rate	(4.2		%)		22.9		%

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- References

No definition available.

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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=84230637&loc=d3e32687-109319

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