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DIVESTITURES (Tables) | 6 Months Ended
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Mar. 31, 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 |
Loans | 268,584 |
Premises, furniture and equipment | 4,945 |
Other assets | 1,250 |
Total assets | $ | 277,283 |
Deposits | $ | 290,493 |
Borrowings | — |
Other liabilities | 1,720 |
Total liabilities | $ | 292,213 |
Net assets | $ | (14,930) |
Purchase price | 4,345 |
Gain on sale | $ | 19,275 |
The Company has summarized the Community Bank division results for the three and six months ended March 31, 2020 below.
(Dollars in Thousands) | Community Bank Sold(1) |  | Community Bank Retained(2) |  | Total Community Bank
Three Months Ended March 31, 2020 |  |  |  |  |
Net interest income | $ | 1,525 |  |  | $ | 7,797 |  |  | $ | 9,322 |
Provision for loan and lease losses | — |  |  | 6,974 |  |  | 6,974 |
Noninterest income | 19,403 |  |  | 23 |  |  | 19,426 |
Noninterest expense | 3,039 |  |  | 866 |  |  | 3,905 |
Income before income tax expense | $ | 17,889 |  |  | $ | (20) |  |  | $ | 17,869 |
Six Months Ended March 31, 2020 |  |  |  |  |
Net interest income | $ | 2,512 |  |  | $ | 17,393 |  |  | $ | 19,905 |
Provision for loan and lease losses | (1,750) |  |  | 6,974 |  |  | 5,224 |
Noninterest income | 19,694 |  |  | (3,484) |  |  | 16,210 |
Noninterest expense | 4,916 |  |  | 3,551 |  |  | 8,467 |
Income before income tax expense | $ | 19,040 |  |  | $ | 3,384 |  |  | $ | 22,424 |
(1) Reflects the activity of the assets and liabilities included in the transaction with Central Bank through the Closing Date, including gain. (2) Reflects the activity of the retained Community Bank loan portfolio excluded from the transaction with Central Bank.

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