XML 72 R39.htm IDEA: XBRL DOCUMENT v3.20.2
DIVESTITURES (Tables)
 12 Months Ended
Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations The Company has summarized the results of the transaction below.
(Dollars in Thousands)Fair Value at
February 29, 2020
Cash and cash equivalents$2,504 
Loans268,584 
Premises, furniture and equipment4,945 
Other assets1,250 
Total assets$277,283 
Deposits$290,493 
Other liabilities1,720 
Total liabilities$292,213 
Net assets$(14,930)
Purchase price4,345 
Gain on sale$19,275 
The Company has summarized the Community Bank division results for the three months and fiscal year ended September 30, 2020 below.

(Dollars in Thousands)
Community Bank Sold(1)
Community Bank Retained(2)
Total Community Bank
Three Months Ended September 30, 2020
Net interest income$— $9,045 $9,045 
(Reversal) Provision for loan and lease losses(2,470)4,370 1,900 
Noninterest income— 5 5 
Noninterest expense327 2,646 2,973 
Net income (loss) before income tax expense$2,143 $2,034 $4,177 
Fiscal Year Ended September 30, 2020
Net interest income$2,512 $34,393 $36,905 
(Reversal) Provision for loan and lease losses(4,711)18,891 14,180 
Noninterest income19,694 (3,468)16,226 
Noninterest expense5,282 7,759 13,041 
Net income (loss) before income tax expense$21,635 $4,275 $25,910 
(1) Reflects the activity of the assets and liabilities included in the disposal of the Community Bank division through September 30, 2020.
(2) Reflects the activity of the retained Community Bank loan portfolio as of September 30, 2020.