XML 32 R20.htm IDEA: XBRL DOCUMENT
v3.25.2

OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES | 3 Months Ended
--- | ---
Dec. 31, 2024
Leases [Abstract] |
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES | OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES Operating lease right-of-use ("ROU") assets, included in other assets, were $22.6 million and $24.4 million at December 31, 2024 and September 30, 2024, respectively. Operating lease liabilities, included in accrued expenses and other liabilities, were $23.8 million and $26.0 million at December 31, 2024 and September 30, 2024, respectively. The decreases in lease ROU assets and liabilities relate to normal amortization and lease payments made during the three months ended December 31, 2024, but also include adjustments for lease assignments that occurred as a result of the commercial insurance premium finance business sale during the quarter. Two office locations, Newport Beach, California and Addison, Texas, were included in the sale of the commercial insurance premium finance business and the relevant lease ROU assets and liabilities are no longer reflected in the Company's Condensed Consolidated Financial Statements after the transaction closed. The derecognition of the relevant lease ROU assets and liabilities resulted in a $0.5 million gain on remeasurement that was recognized as part of the overall gain on divestitures from the commercial insurance premium finance business sale. See Note 3. Divestitures to the Condensed Consolidated Financial Statements for further information. Undiscounted future minimum operating lease payments and a reconciliation to the amount recorded as operating lease liabilities at December 31, 2024 were as follows:
(Dollars in thousands) |
Remaining in 2025 | $ | 2,535 |
2026 | 3,048 |
2027 | 2,856 |
2028 | 2,816 |
2029 | 2,841 |
Thereafter | 12,703 |
Total undiscounted future minimum lease payments | 26,799 |
Discount | (3,049) |
Total operating lease liabilities | $ | 23,750 |
The weighted-average discount rate and remaining lease term for operating leases were as follows:
| December 31, 2024 |  | September 30, 2024
Weighted-average discount rate | 2.50 | % |  | 2.45 | %
Weighted-average remaining lease term (years) | 8.91 |  | 8.78
The components of total lease costs for operating leases were as follows:
|  |  | Three Months Ended December 31,
(Dollars in thousands) |  |  |  |  | 2024 |  | 2023
Lease expense |  |  |  |  | $ | 919 |  |  | $ | 1,025 |
Short-term and variable lease cost |  |  |  |  | 21 |  |  | (7) |
Sublease income |  |  |  |  | (352) |  |  | (370) |
Total lease cost for operating leases |  |  |  |  | $ | 588 |  |  | $ | 648 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration