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PARENT COMPANY FINANCIAL STATEMENTS (Tables) | 12 Months Ended
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Sep. 30, 2024
Condensed Financial Information Disclosure [Abstract] |
Condensed Statements of Financial Condition | Presented below are the condensed financial statements for the parent company, Pathward Financial, Inc.
Condensed Statements of Financial Condition |  |  |
(Dollars in thousands) | September 30, 2024 |  | September 30, 2023
ASSETS |  |  |
Cash and cash equivalents | $ | 1,898 |  |  | $ | 1,399 |
Securities held to maturity, at amortized cost | 10,896 |  |  | 9,220 |
Investment in subsidiaries | 865,843 |  |  | 678,572 |
Other assets | 2,263 |  |  | 1,312 |
Total assets | $ | 880,900 |  |  | $ | 690,503 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |
LIABILITIES |  |  |
Long-term borrowings | $ | 33,354 |  |  | $ | 33,252 |
Other liabilities | 7,941 |  |  | 6,626 |
Total liabilities | 41,295 |  |  | 39,878 |
STOCKHOLDERS' EQUITY |  |  |
Common stock | 248 |  |  | 262 |
Additional paid-in capital | 638,803 |  |  | 628,500 |
Retained earnings | 354,474 |  |  | 278,655 |
Accumulated other comprehensive loss | (153,394) |  |  | (255,443) |
Treasury stock, at cost | (249) |  |  | (344) |
Total equity attributable to parent | 839,882 |  |  | 651,630 |
Noncontrolling interest | (277) |  |  | (1,005) |
Total stockholders' equity | 839,605 |  |  | 650,625 |
Total liabilities and stockholders' equity | $ | 880,900 |  |  | $ | 690,503 |
Condensed Statements of Operations |
Condensed Statements of Operations |  |  |  |  |
| Fiscal Year Ended September 30,
(Dollars in thousands) | 2024 |  | 2023 |  | 2022
Interest expense | $ | 2,667 |  |  | $ | 2,538 |  |  | $ | 3,982 |
Other expense | 3,297 |  |  | 1,409 |  |  | 1,062 |
Total expense | 5,964 |  |  | 3,947 |  |  | 5,044 |
Loss before income taxes and equity in undistributed net income of subsidiaries | (5,964) |  |  | (3,947) |  |  | (5,044) |
Income tax benefit | (1,147) |  |  | (967) |  |  | (1,029) |
Loss before equity in undistributed net income of subsidiaries | (4,817) |  |  | (2,980) |  |  | (4,015) |
Equity in undistributed net income of subsidiaries | 172,017 |  |  | 166,738 |  |  | 159,652 |
Other income | 1,157 |  |  | (143) |  |  | 749 |
Total income | 173,174 |  |  | 166,595 |  |  | 160,401 |
Net income attributable to parent | $ | 168,357 |  |  | $ | 163,615 |  |  | $ | 156,386 |
Condensed Statements of Cash Flows |
Condensed Statements of Cash Flows |  |  |  |  |
| Fiscal Year Ended September 30,
(Dollars in thousands) | 2024 |  | 2023 |  | 2022
Cash flows from operating activities: |  |  |  |  |
Net income attributable to parent | $ | 168,357 |  |  | $ | 163,615 |  |  | $ | 156,386 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |
Depreciation, amortization and accretion, net | 102 |  |  | 102 |  |  | 1,020 |
Equity in undistributed net income of subsidiaries | (172,017) |  |  | (166,738) |  |  | (159,652) |
Net change in accrued interest receivable | 46 |  |  | (30) |  |  | (15) |
Net change in other assets | (997) |  |  | (354) |  |  | (636) |
Net change in accrued expenses and other liabilities | 1,315 |  |  | (1,793) |  |  | 3,163 |
Cash dividend received | 87,000 |  |  | 110,000 |  |  | 229,200 |
Stock compensation | 10,287 |  |  | 11,070 |  |  | 10,004 |
Net cash provided by operating activities | 94,093 |  |  | 115,872 |  |  | 239,470 |
Cash flows from investing activities: |  |  |  |  |
Alternative investments | (1,676) |  |  | (1,217) |  |  | (3,380) |
Net cash (used in) investing activities | (1,676) |  |  | (1,217) |  |  | (3,380) |
Cash flows from financing activities: |  |  |  |  |
Redemption of long-term borrowings | — |  |  | — |  |  | (75,000) |
Payment of debt issuance costs | — |  |  | (511) |  |  | — |
Proceeds from long-term borrowings | — |  |  | — |  |  | 20,000 |
Dividends paid on common stock | (5,067) |  |  | (5,426) |  |  | (5,921) |
Issuance of common stock due to restricted stock | 2 |  |  | 1 |  |  | 1 |
Issuance of common stock due to ESOP | — |  |  | — |  |  | 2,886 |
Repurchases of common stock | (86,853) |  |  | (120,437) |  |  | (168,235) |
Net cash (used in) financing activities | (91,918) |  |  | (126,373) |  |  | (226,269) |
Net change in cash and cash equivalents | 499 |  |  | (11,718) |  |  | 9,821 |
Cash and cash equivalents at beginning of fiscal year | 1,399 |  |  | 13,117 |  |  | 3,296 |
Cash and cash equivalents at end of fiscal year | $ | 1,898 |  |  | $ | 1,399 |  |  | $ | 13,117 |

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