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SEGMENT REPORTING

6 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

An operating segment is generally defined as a component of a business for which discrete financial information is available and whose results are reviewed by the chief operating decision-maker. Operating segments are aggregated into reportable segments if certain criteria are met.

In the Annual Report on Form 10-K for the fiscal year ended September 30, 2019, the Company reported its results of operations through three business segments: Payments, Banking, and Corporate Services/Other. Beginning October 1, 2019, segments are now aligned with the new management operating structure implemented by the Company for fiscal year 2020. The Company accordingly has changed its basis of presentation for segments, and following such change, reports its results of operations through the following three business segments: Consumer, Commercial, and Corporate Services/Other. The Meta Payment Systems and Tax Services divisions, formerly reported in the Payments segment, are now included in the Consumer segment. The Warehouse Finance, Consumer Credit Products and ClearBalance business lines, previously reported in the Banking segment, are now included in the Consumer segment. The Crestmark and AFS divisions, formerly reported in the Banking segment, are now included in the Commercial segment. The Community Bank division and Student Loan lending portfolio, previously reported in the Banking segment, are now included in the Corporate Services/Other segment. The Corporate Services/Other segment also includes certain shared services as well as treasury related functions such as the investment portfolio, wholesale deposits and borrowings. Prior periods have been reclassified to conform to the current period presentation. The Company does not report indirect general and administrative expenses in the Consumer and Commercial segments.

The following tables present segment data for the Company for the three and six months ended:

(Dollars in Thousands)			Consumer						Commercial						Corporate Services/Other						Total
Three Months Ended March 31, 2020
Net interest income			$	20,165					$	37,026					$	10,546					$	67,737
Provision for loan and lease losses			19,635						11,994						5,667						37,296
Noninterest income			83,208						15,523						21,782						120,513
Noninterest expense			30,534						27,361						33,834						91,729
Income (loss) before income tax expense (benefit)			53,204						13,194						(7,173)						59,225
Total assets			722,334						2,529,665						2,591,866						5,843,865
Total goodwill			87,145						222,360						—						309,505
Total deposits			3,078,481						9,214						874,709						3,962,404

(Dollars in Thousands)			Consumer						Commercial						Corporate Services/Other						Total
Six Months Ended March 31, 2020
Net interest income			$	40,177					$	76,762					$	15,449					$	132,388
Provision for loan and lease losses			20,615						15,695						4,393						40,703
Noninterest income			107,972						30,502						19,521						157,995
Noninterest expense			47,317						54,086						66,123						167,526
Income (loss) before income tax expense (benefit)			80,217						37,483						(35,546)						82,154
Total assets			722,334						2,529,665						2,591,866						5,843,865
Total goodwill			87,145						222,360						—						309,505
Total deposits			3,078,481						9,214						874,709						3,962,404

(Dollars in Thousands)			Consumer						Commercial						Corporate Services/Other						Total
Three Months Ended March 31, 2019
Net interest income			$	19,829					$	37,965					$	13,556					$	71,350
Provision for loan and lease losses			22,645						7,086						3,587						33,318
Noninterest income			89,757						13,655						1,613						105,025
Noninterest expense			29,976						37,451						42,827						110,254
Income (loss) before income tax expense (benefit)			56,965						7,083						(31,245)						32,803
Total assets			629,557						2,118,465						3,302,020						6,050,042
Total goodwill			87,145						220,319						—						307,464
Total deposits			3,122,839						9,989						1,837,479						4,970,307

(Dollars in Thousands)			Consumer						Commercial						Corporate Services/Other						Total
Six Months Ended March 31, 2019
Net interest income			$	33,503					$	73,916					$	24,203					$	131,622
Provision for loan losses			24,618						10,940						6,859						42,417
Noninterest income			112,648						27,587						2,541						142,776
Noninterest expense			48,104						67,003						69,442						184,549
Income (loss) before income tax expense (benefit)			73,429						23,560						(49,557)						47,432
Total assets			629,557						2,118,465						3,302,020						6,050,042
Total goodwill			87,145						220,319						—						307,464
Total deposits			3,122,839						9,989						1,837,479						4,970,307

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- References

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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