FURNITURE AND EQUIPMENT

12 Months Ended

Sep. 30, 2017

Property, Plant and Equipment [Abstract]

FURNITURE AND EQUIPMENT

FURNITURE AND EQUIPMENT

Cost and accumulated depreciation of furniture and equipment at September 30, 2017 and 2016 is as follows:

	As of September 30,
	2017			2016
	(dollars in thousands)
Computer software	$	2,633		$	2,633
Work in process	3,510			2,582
	6,143			5,215
Less accumulated depreciation	(2,029		)	(1,685		)
Furniture and equipment - net	$	4,114		$	3,530

Depreciation expense was $0.3 million for the year ended September 30, 2017, $0.1 million for the year ended September 30, 2016 and $0.2 million for the year ended September 30, 2015.

As of September 30, 2017, the Company had $3.5 million in capitalized work in process related to the development of a new consumer lending software platform.

In fiscal 2015, the Company made a one-time payment to Fidelity Information Services, LLC ("FIS") of $3.2 million for the termination of the Company's relationship with FIS. The Company recorded a $2.3 million expense in fiscal 2015, which included $1.2 million for the termination of the Company's relationship with FIS and $1.1 million to write-off previously capitalized consumer lending software development costs.