Income Taxes (Tables)

12 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Schedule Of Income Tax Expense

Income tax expense for the years ended September 30, 2020, 2019, and 2018 consisted of the following:

	2020		2019		2018
	(Dollars in thousands)
Current:
Federal	$	17,610	$	22,030	$	26,007
State	4,068		4,742		3,512
	21,678		26,772		29,519
Deferred:
Federal	(4,857)		(456)		(5,956)
State	(731)		95		1,416
	(5,588)		(361)		(4,540)
	$	16,090	$	26,411	$	24,979

Differences Between Effective Rates And Statutory Federal Income Tax Rate Computed On Income Before Income Tax Expense

The Company's effective tax rates were 20.0%, 21.9%, and 20.2% for the years ended September 30, 2020, 2019, and 2018, respectively. The differences between such effective rates and the statutory Federal income tax rate computed on income before income tax expense resulted from the following:

	2020				2019				2018
	Amount		%		Amount		%		Amount		%
	(Dollars in thousands)
Federal income tax expense
computed at statutory Federal rate	$	16,932	21.0	%	$	25,337	21.0	%	$	30,392	24.5	%
Increases (decreases) in taxes resulting from:
State taxes, net of Federal tax effect	2,626		3.3		4,024		3.3		3,986		3.2
Deferred tax liability remeasurement, net	—		—		—		—		(7,498)		(6.0)
Low income housing tax credits, net	(1,897)		(2.4)		(1,745)		(1.4)		(500)		(0.4)
ESOP related expenses, net	(525)		(0.6)		(757)		(0.6)		(790)		(0.6)
Acquired BOLI policies	(636)		(0.8)		—		—		—		—
Other	(410)		(0.5)		(448)		(0.4)		(611)		(0.5)
	$	16,090	20.0	%	$	26,411	21.9	%	$	24,979	20.2	%

Components Of Net Deferred Income Tax Liabilities

The components of the net deferred income tax liabilities as of September 30, 2020 and 2019 were as follows:

	2020		2019
	(Dollars in thousands)
Deferred income tax assets:
Unrealized loss on interest rate swaps	$	12,916	$	8,041
ACL	6,553		1,938
Lease liabilities	3,590		—
Salaries, deferred compensation and employee benefits	1,622		1,579
ESOP compensation	1,360		1,288
Low income housing partnerships	655		792
Net purchase discounts related to acquired loans	577		991
Other	2,717		2,918
Gross deferred income tax assets	29,990		17,547
Valuation allowance	(1,808)		(1,823)
Gross deferred income tax asset, net of valuation allowance	28,182		15,724
Deferred income tax liabilities:
FHLB stock dividends	15,699		16,009
Unrealized gain on AFS securities	7,617		3,258
Premises and equipment	4,625		3,546
Lease right-of-use assets	3,588		—
Deposit intangible	1,475		1,978
ACL	2,388		3,018
Other	970		2,197
Gross deferred income tax liabilities	36,362		30,006
Net deferred tax liabilities	$	8,180	$	14,282