Parent Company Only Financial Statements

12 Months Ended

Sep. 30, 2019

Condensed Financial Information Disclosure [Abstract]

Parent Company Only Financial Statements

Parent Company Only Financial Statements

Parent company only financial information for Great Western Bancorp, Inc. is summarized as follows:

Condensed Balance Sheets

(Dollars in Thousands)

	September 30,
	2019		2018
	(dollars in thousands)
Assets
Cash and cash equivalents	$	57,543	$	72,924
Investment in subsidiaries	1,950,077		1,873,422
Net deferred tax assets	1,716		1,489
Other assets	689		2,056
Total assets	$	2,010,025	$	1,949,891
Liabilities and stockholders’ equity
Subordinated debentures and subordinated notes payable	$	108,636	$	108,468
Accrued expenses and other liabilities	1,140		872
Total liabilities	109,776		109,340
Stockholders’ equity
Common stock	563		589
Additional paid-in capital	1,228,714		1,318,457
Retained earnings	657,475		553,014
Accumulated other comprehensive income (loss)	13,497		(31,509)
Total stockholders’ equity	1,900,249		1,840,551
Total liabilities and stockholders’ equity	$	2,010,025	$	1,949,891

Condensed Statements of Comprehensive Income

(Dollars in Thousands)

	Fiscal Years Ended September 30,
	2019		2018		2017
	(dollars in thousands)
Income
Dividends from subsidiary bank	$	148,128	$	111,159	$	62,470
Dividends on securities	19		51		123
Other	120		103		62
Total income	148,267		111,313		62,655
Expenses
Interest on subordinated debentures and subordinated notes payable	5,540		5,040		4,464
Salaries and employee benefits	6,288		5,849		6,847
Professional fees	1,035		1,038		631
Other	2,653		2,456		2,204
Total expense	15,516		14,383		14,146
Income before income tax and equity in undistributed net income of subsidiaries	132,751		96,930		48,509
Income tax benefit	(2,965)		(3,075)		(8,147)
Income before equity in undistributed net income of subsidiaries	135,716		100,005		56,656
Equity in undistributed net income of subsidiaries	31,649		57,911		88,130
Net income	$	167,365	$	157,916	$	144,786

Condensed Statements of Cash Flows

(Dollars in Thousands)

	Fiscal Years Ended September 30,
	2019		2018		2017
	(dollars in thousands)
Operating Activities
Net income	$	167,365	$	157,916	$	144,786
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	168		166		165
Gain on redemption of subordinated debentures	—		—		(111)
Stock-based compensation	4,582		4,419		6,810
Deferred income taxes	(227)		13		(1,796)
Changes in:
Other assets	1,367		6,459		(823)
Accrued interest and other liabilities	268		(140)		286
Equity in undistributed net income of subsidiaries	(31,649)		(57,911)		(88,130)
Net cash provided by operating activities	141,874		110,922		61,187
Financing Activities
Redemption of subordinated debentures	—		—		(3,625)
Common stock repurchased	(94,351)		—		(5,605)
Dividends paid	(62,904)		(53,002)		(43,474)
Net cash used in financing activities	(157,255)		(53,002)		(52,704)
Net (decrease) increase in cash and cash equivalents	(15,381)		57,920		8,483
Cash and cash equivalents, beginning of period	72,924		15,004		6,521
Cash and cash equivalents, end of period	$	57,543	$	72,924	$	15,004