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PARENT COMPANY FINANCIAL STATEMENTS (Tables) | 12 Months Ended
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Sep. 30, 2020
Condensed Financial Information Disclosure [Abstract] |
Condensed Statements of Financial Condition | CONDENSED STATEMENTS OF FINANCIAL CONDITION
September 30, | 2020 |  | 2019
(Dollars in Thousands) |  |  |
ASSETS |  |  |
Cash and cash equivalents | $ | 4,783 |  |  | $ | 8,111 |
Investment securities held to maturity, at cost | 1,208 |  |  | 411 |
Investment in subsidiaries | 933,431 |  |  | 933,196 |
Other assets | 3,308 |  |  | 159 |
Total assets | $ | 942,730 |  |  | $ | 941,877 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |
LIABILITIES |  |  |
Long-term borrowings | $ | 87,468 |  |  | $ | 87,305 |
Other liabilities | 7,954 |  |  | 10,614 |
Total liabilities | $ | 95,422 |  |  | $ | 97,919 |
STOCKHOLDERS' EQUITY |  |  |
Common stock | $ | 344 |  |  | $ | 378 |
Additional paid-in capital | 594,569 |  |  | 580,826 |
Retained earnings | 234,927 |  |  | 252,813 |
Accumulated other comprehensive income (loss) | 17,542 |  |  | 6,339 |
Treasury stock, at cost | (3,677) |  |  | (445) |
Total equity attributable to parent | 843,705 |  |  | 839,911 |
Noncontrolling interest | 3,603 |  |  | 4,047 |
Total stockholders' equity | 847,308 |  |  | 843,958 |
Total liabilities and stockholders' equity | $ | 942,730 |  |  | $ | 941,877 |
Condensed Statements of Operations | CONDENSED STATEMENTS OF OPERATIONS
Fiscal Years Ended September 30, | 2020 |  | 2019 |  | 2018
(Dollars in Thousands) |  |  |  |  |
Interest expense | $ | 5,168 |  |  | $ | 5,296 |  |  | $ | 5,061 |
Other expense | 1,256 |  |  | 1,044 |  |  | 663 |
Total expense | 6,424 |  |  | 6,340 |  |  | 5,724 |
Loss before income taxes and equity in undistributed net income of subsidiaries | (6,424) |  |  | (6,340) |  |  | (5,724) |
Income tax (benefit) | (3,638) |  |  | (1,374) |  |  | (1,504) |
Loss before equity in undistributed net income of subsidiaries | (2,786) |  |  | (4,966) |  |  | (4,220) |
Equity in undistributed net income of subsidiaries | 107,476 |  |  | 101,970 |  |  | 55,840 |
Other income | 30 |  |  | — |  |  | — |
Total Income | 107,506 |  |  | 101,970 |  |  | 55,840 |
Net income attributable to parent | $ | 104,720 |  |  | $ | 97,004 |  |  | $ | 51,620 |
Condensed Statements of Cash Flows | CONDENSED STATEMENTS OF CASH FLOWS
For the Fiscal Years Ended September 30, | 2020 |  | 2019 |  | 2018
(Dollars in Thousands) |  |  |  |  |
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |
Net income attributable to parent | $ | 104,720 |  |  | $ | 97,004 |  |  | $ | 51,620 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Depreciation, amortization and accretion, net | 163 |  |  | 153 |  |  | 143 |
Equity in undistributed net income of subsidiaries | (107,476) |  |  | (101,970) |  |  | (55,840) |
Stock compensation | 10,221 |  |  | 12,942 |  |  | 11,123 |
Net change: |  |  |  |  |
Other assets | (3,149) |  |  | (35) |  |  | 232 |
Accrued expenses and other liabilities | (2,660) |  |  | (6,468) |  |  | (860) |
Cash dividend received | 118,000 |  |  | 33,980 |  |  | 45,315 |
Net cash provided by operating activities | 119,819 |  |  | 35,606 |  |  | 51,733 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |
Held to maturity: |  |  |  |  |
Proceeds from maturities and principal repayments | — |  |  | — |  |  | 8 |
Capital contributions to subsidiaries | — |  |  | — |  |  | (20,322) |
Alternative Investments | (797) |  |  | — |  |  | — |
Net cash (used in) investing activities | (797) |  |  | — |  |  | (20,314) |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |
Cash dividends paid | (7,100) |  |  | (7,760) |  |  | (5,736) |
Payment: |  |  |  |  |
Short-term borrowings | — |  |  | — |  |  | (11,642) |
Long-term borrowings | — |  |  | — |  |  | (258) |
Purchase of shares by ESOP | 3,220 |  |  | 2,011 |  |  | 1,606 |
Proceeds/(payment): |  |  |  |  |
Exercise of stock options & issuance of common stock | 266 |  |  | 44 |  |  | 148 |
Issuance of restricted stock | 2 |  |  | 3 |  |  | 4 |
Issuance of commons shares due to acquisitions | — |  |  | — |  |  | 295,767 |
Cash acquired due to acquisitions | — |  |  | — |  |  | 697 |
Net increase in investment in subsidiaries | — |  |  | (90) |  |  | (295,767) |
Shares repurchased for tax withholdings on stock compensation | (118,738) |  |  | (49,912) |  |  | (2,598) |
Net cash provided by (used in) financing activities | (122,350) |  |  | (55,704) |  |  | (17,779) |
Net change in cash and cash equivalents | $ | (3,328) |  |  | $ | (20,098) |  |  | $ | 13,640 |
CASH AND CASH EQUIVALENTS |  |  |  |  |
Beginning of fiscal year | 8,111 |  |  | 28,209 |  |  | 14,569 |
End of fiscal year | $ | 4,783 |  |  | $ | 8,111 |  |  | $ | 28,209 |

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