Employee Benefit Plans

3 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Profit Sharing Plan

The Company participates in a multiple employer 401(k) profit sharing plan (the Plan). All employees are eligible to participate, beginning with the first day of the month coincident with or immediately following the completion of one year of service and having reached the age of 21. In addition to employee contributions, the Company may contribute discretionary amounts for eligible participants. Contribution rates for participating employees must be equal. The Company contributed $1.5 million and $1.4 million to the Plan for the three months ended December 31, 2016 and 2015, respectively.

Defined Benefit Plan

The Company acquired a noncontributory (cash balance) defined benefit pension plan from HF Financial which covers employees of HF Financial and its wholly-owned subsidiaries. Effective July 1, 2015, the plan was frozen which eliminates future contributions for qualified individuals. The plan has not been terminated, so the plan continues to exist with related benefit obligations and plan assets for those vested within the plan.

Information relative to the components of net periodic benefit cost measured at/or for the three months ended December 31, 2016 and 2015 for the defined benefit plan is presented below:

	Three Months Ended December 31,
	2016			2015
	(dollars in thousands)
Net periodic benefit cost
Service cost	$	12		$	—
Interest cost	56			—
Expected return on plan assets	(64		)	—
Amortization of prior losses	62			—
Net periodic benefit cost	$	66		$	—

The Company does not anticipate funding any contributions for fiscal year 2017.