XML 24 R9.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:      
Net income before noncontrolling interest $ 165,807 $ 159,354 $ 145,745
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation, amortization and accretion, net 64,955 61,601 59,047
Provision for credit losses 57,354 28,538 49,766
Provision for deferred taxes (175) 17,587 (1,639)
Originations of loans held for sale (1,208,684) (985,330) (601,481)
Proceeds from sales of loans held for sale 1,139,881 1,059,361 890,340
Net change in loans held for sale 25,922 12,819 588
Fair value adjustment of foreclosed real estate 0 301 591
Net realized (gain) on securities available for sale 0 (154) (6)
Net realized (gain) loss on loans held for sale (268) 3,694 (8,610)
Net realized loss on premise, furniture, and equipment 65 55 0
Net realized (gain) on lease receivables and equipment (1,741) (3,397) (2,257)
Net realized (gain) on foreclosed real estate and repossessed assets 0 0 (4)
Net realized (gain) on trademarks (10,000) (50,000) 0
Net realized (gain) on other assets (91) 1,441 28
Change in bank-owned life insurance value (1,497) (2,434) (2,434)
Impairment on rental equipment 24 0 0
Impairment of intangibles 0 670 0
Net change in accrued interest receivable (5,303) (1,725) 374
Net change in other assets 17,134 (32,936) 825
Net change in accrued expenses and other liabilities 48,658 (10,640) 43,920
Stock compensation 11,070 10,004 6,852
Net cash provided by operating activities 303,111 268,809 581,645
Cash flows from investing activities:      
Purchases of securities available for sale (156,885) (907,361) (1,041,768)
Proceeds from sales of securities available for sale 0 265,951 50,468
Proceeds from maturities of and principal collected on securities available for sale 177,296 324,234 371,898
Proceeds from maturities of and principal collected on securities held to maturity 4,835 14,281 34,268
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock (330,144) (173,653) (1,296)
Redemption of Federal Reserve Bank and Federal Home Loan Bank stock 330,746 173,240 34
Purchases of loans and leases (215,266) (115,353) (311,332)
Proceeds from sales of loans and leases 0 123,241 13,850
Net change in loans and leases (307,473) 358,635 (196,356)
Purchases of premises, furniture, and equipment (8,623) (8,177) (12,961)
Proceeds from sales of premises, furniture, and equipment 0 35 86
Purchases of rental equipment (441,047) (424,919) (50,437)
Proceeds from sales of rental equipment 14,998 9,372 16,822
Net change in rental equipment (236) (5,772) (630)
Proceeds from sales of foreclosed real estate and repossessed assets 1 1,824 8,952
Proceeds from death benefit of bank-owned life insurance 1,040 0 0
Proceeds from sale of trademarks 10,000 50,000 0
Proceeds from sale of other assets 0 3,550 0
Net cash (used in) investing activities (920,758) (310,872) (1,118,402)
Cash flows from financing activities:      
Net change in deposits 723,145 351,066 535,771
Net change in short-term borrowings 13,000 0 0
Redemption of long-term borrowings 0 (75,000) 0
Proceeds from long-term borrowings 0 20,000 0
Principal payments on capital lease obligations 0 (75) (32)
Principal payments on other liabilities (1,747) (2,751) (5,611)
Proceeds from other liabilities 0 0 80
Payment of debt issuance costs (511) 0 0
Dividends paid on common stock (5,426) (5,921) (6,400)
Issuance of common stock due to restricted stock 1 1 0
Issuance of common stock due to ESOP 0 2,886 3,036
Repurchases of common stock (120,437) (168,235) (99,878)
Distributions to noncontrolling interest (3,167) (4,153) (4,033)
Net cash provided by financing activities 604,858 117,818 422,933
Effect of exchange rate changes on cash 331 (1,736) 476
Net change in cash and cash equivalents (12,458) 74,019 (113,348)
Cash and cash equivalents at beginning of fiscal year 388,038 314,019 427,367
Cash and cash equivalents at end of fiscal period 375,580 388,038 314,019
Supplemental disclosure of cash flow information:      
Interest 10,819 5,259 8,207
Income taxes 14,056 13,940 8,038
Franchise taxes 250 250 250
Other taxes 1,109 541 722
Supplemental schedule of non-cash investing activities:      
Held for sale to loans and leases 158 115,934 36,919
Loans and leases to held for sale 13,421 169,045 188,638
Loans and leases to rental equipment 3,122 3,893 28,604
Loans and leases to foreclosed real estate and repossessed assets 0 49 9
Rental equipment to loan and leases 377,250 400,148 24,324
Rental equipment to foreclosed real estate and repossessed assets 0 0 1,650
Recognition of operating lease ROU assets, net of measurements 0 117 12,954
Retirement of treasury stock $ 6,943 $ 0 $ 0