Employee Benefit Plans (Tables)

12 Months Ended

Sep. 30, 2016

Compensation and Retirement Disclosure [Abstract]

The following table sets forth the pension plan funded status, using the valuation date of September 30, 2016:



	September 30,
	2016			2015
	(dollars in thousands)
Changes in benefit obligations:
Benefit obligations, beginning of year	$	—		$	—
Acquired in HF Financial acquisition	8,642			—
Service cost	21			—
Interest cost	176			—
Benefits paid	(2,677		)	—
Plan changes	—			—
Assumption changes	265			—
Actuarial loss	(72		)	—
Benefit obligations, end of year	$	6,355		$	—

Changes in plan assets:
Fair value of plan assets, beginning of year	$	—		$	—
Acquired in HF Financial acquisition	5,642			—
Actual return on plan assets	226			—
Company contributions	168			—
Benefits paid	(2,677		)	—
Fair value of plan assets, end of year	$	3,359		$	—
Funded status⁽¹⁾	$	(2,996	)	$	—

⁽¹⁾Amounts included in other liabilities in the consolidated balance sheets.

Components of net periodic benefit cost

Information relative to the components of net periodic benefit cost measured at/or for the fiscal years ended September 30, 2016, 2015 and 2014 for the defined benefit plan is presented below:



	September 30,
	2016			2015		2014
	(dollars in thousands)
Net periodic benefit cost
Service cost	$	21		$	—	$	—
Interest cost	176			—		—
Expected return on plan assets	(190		)	—		—
Amortization of prior losses	50			—		—
Net periodic benefit cost	$	57		$	—	$	—

Summary of weighted-average assumptions used

The weighted-average assumptions used to determine benefit obligations are as follows as of September 30,:



	2016		2015
Discount rate - pre-retirement	3.57	%	—	%
Discount rate - post-retirement	3.57	%	—	%
Rate of compensation increase⁽¹⁾	N/A		N/A

⁽¹⁾Effective July 1, 2015, the plan was frozen whereby the rate of compensation increases, which relate to future additional contributions to the plan, are not applicable in the future.

The weighted-average assumptions used to determine net periodic benefit costs are as follows as of September 30,:



	2016		2015		2014
Discount rate - pre-retirement	3.57	%	—	%	—	%
Discount rate - post-retirement	3.57	%	—	%	—	%
Rate of compensation increase	4.00	%	—	%	—	%
Expected long-term return on plan assets	8.00	%	—	%	—	%

Summary of plan asset allocation

The target allocation percentage ranges established, which may change from time to time, by investment category are detailed in the table below. Management believes there are no significant concentrations of risk with in the plan asset portfolio as of September 30, 2016.



	Fair Value		Actual Asset Mix as a % of Market Value		Target Asset Mix as a % of Market Value
	(dollars in thousands)
Equities	$	2,200	65.50	%	55.00	%	⁽¹⁾
Fixed	1,130		33.63	%	30.00	%	⁽²⁾
Other	—		—	%	10.00	%	⁽³⁾
Cash and cash equivalents	29		0.87	%	5.00	%	⁽²⁾
Total pension plan assets	$	3,359	100.00	%	100.00	%

⁽¹⁾ Includes a plus/minus range of 10.0%
⁽²⁾ Includes a plus/minus range of 5.0%
⁽³⁾ Maximum allocation of 10.0%

The following table shows the fair values of the Company's pension plan assets by asset category at September 30, 2016. Information about the valuation techniques and inputs used to measure fair value is provided in Note 25 Fair Value Measurements.



	Fair Value		Level 1		Level 2		Level 3
	(dollars in thousands)
Cash and cash equivalents	$	29	$	29	$	—	$	—
Equity securities:
Domestic fund	1,499		1,499		—		—
International fund	551		551		—		—
Emerging markets fund	150		150		—		—
Fixed income securities:
International fixed income fund	310		310		—		—
Taxable fixed income fund	820		820		—		—
Total pension plan assets	$	3,359	$	3,359	$	—	$	—

Maturity of estimated future benefit payments

The following estimated future benefit payments are expected to be paid during the fiscal years ended September 30:



	(dollars in thousands)
2017	$	323
2018	434
2019	506
2020	304
2021	701
2022 though 2026	1,996
Total	$	4,264