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PARENT COMPANY FINANCIAL STATEMENTS (Tables) | 12 Months Ended
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Sep. 30, 2022
Condensed Financial Information Disclosure [Abstract] |
Condensed Statements of Financial Condition |
Condensed Statements of Financial Condition |  |  |
(Dollars in thousands) | September 30, 2022 |  | September 30, 2021
ASSETS |  |  |
Cash and cash equivalents | $ | 13,117 |  |  | $ | 3,296 |
Investment securities held to maturity, at cost | 8,003 |  |  | 4,623 |
Investment in subsidiaries | 665,172 |  |  | 956,584 |
Other assets | 928 |  |  | 278 |
Total assets | $ | 687,220 |  |  | $ | 964,781 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |
LIABILITIES |  |  |
Subordinated debentures | $ | 33,661 |  |  | $ | 87,641 |
Other liabilities | 8,419 |  |  | 5,256 |
Total liabilities | 42,080 |  |  | 92,897 |
STOCKHOLDERS' EQUITY |  |  |
Common stock | 288 |  |  | 317 |
Additional paid-in capital | 617,403 |  |  | 604,484 |
Retained earnings | 245,394 |  |  | 259,189 |
Accumulated other comprehensive income (loss) | (213,080) |  |  | 7,599 |
Treasury stock, at cost | (4,835) |  |  | (860) |
Total equity attributable to parent | 645,170 |  |  | 870,729 |
Non-controlling interest | (30) |  |  | 1,155 |
Total stockholders' equity | 645,140 |  |  | 871,884 |
Total liabilities and stockholders' equity | $ | 687,220 |  |  | $ | 964,781 |
Condensed Statements of Operations |
Condensed Statements of Operations |  |  |  |  |
| Fiscal Years Ended September 30,
(Dollars in thousands) | 2022 |  | 2021 |  | 2020
Interest expense | $ | 3,982 |  |  | $ | 4,915 |  |  | $ | 5,168 |
Other expense | 1,062 |  |  | 1,287 |  |  | 1,256 |
Total expense | 5,044 |  |  | 6,202 |  |  | 6,424 |
Loss before income taxes and equity in undistributed net income of subsidiaries | (5,044) |  |  | (6,202) |  |  | (6,424) |
Income tax benefit | (1,029) |  |  | 395 |  |  | (3,638) |
Loss before equity in undistributed net income of subsidiaries | (4,015) |  |  | (6,597) |  |  | (2,786) |
Equity in undistributed net income of subsidiaries | 159,652 |  |  | 147,895 |  |  | 107,476 |
Other Income | 749 |  |  | 410 |  |  | 30 |
Total Income | 160,401 |  |  | 148,305 |  |  | 107,506 |
Net income attributable to parent | $ | 156,386 |  |  | $ | 141,708 |  |  | $ | 104,720 |
Condensed Statements of Cash Flows |
Condensed Statements of Cash Flows |  |  |  |  |
| Fiscal Year Ended September 30,
(Dollars in thousands) | 2022 |  | 2021 |  | 2020
Cash flows from operating activities: |  |  |  |  |
Net income attributable to parent | $ | 156,386 |  |  | $ | 141,708 |  |  | $ | 104,720 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |
Depreciation, amortization and accretion, net | 1,020 |  |  | 173 |  |  | 163 |
Equity in undistributed net income of subsidiaries | (159,652) |  |  | (147,895) |  |  | (107,476) |
Net change in accrued interest receivable | (15) |  |  | — |  |  | — |
Net change in other assets | (636) |  |  | 3,030 |  |  | (3,149) |
Net change in accrued expenses and other liabilities | 3,163 |  |  | (2,698) |  |  | (2,660) |
Cash dividend received | 229,200 |  |  | 104,000 |  |  | 118,000 |
Stock compensation | 10,004 |  |  | 6,852 |  |  | 10,221 |
Net cash provided by operating activities | 239,470 |  |  | 105,170 |  |  | 119,819 |
Cash flows from investing activities: |  |  |  |  |
Alternative investments | (3,380) |  |  | (3,415) |  |  | (797) |
Net cash (used in) investing activities | (3,380) |  |  | (3,415) |  |  | (797) |
Cash flows from financing activities: |  |  |  |  |
Redemption of long-term borrowings | (75,000) |  |  | — |  |  | — |
Proceeds from long-term borrowings | 20,000 |  |  | — |  |  | — |
Dividends paid on common stock | (5,921) |  |  | (6,400) |  |  | (7,100) |
Issuance of common stock due to exercise of stock options | — |  |  | — |  |  | 266 |
Issuance of common stock due to restricted stock | 1 |  |  | — |  |  | 2 |
Issuance of common stock due to ESOP | 2,886 |  |  | 3,036 |  |  | 3,220 |
Repurchases of common stock | (168,235) |  |  | (99,878) |  |  | (118,738) |
Net cash (used in) financing activities | (226,269) |  |  | (103,242) |  |  | (122,350) |
Net change in cash and cash equivalents | 9,821 |  |  | (1,487) |  |  | (3,328) |
Cash and cash equivalents at beginning of fiscal year | 3,296 |  |  | 4,783 |  |  | 8,111 |
Cash and cash equivalents at end of fiscal year | $ | 13,117 |  |  | $ | 3,296 |  |  | $ | 4,783 |

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