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Accounting for Certain Loans Acquired with Deteriorated Credit Quality (Tables)
 9 Months Ended
Jun. 30, 2020
Receivables [Abstract]  
Schedule of troubled debt restructurings
The re-assessment of purchased credit impaired loans resulted in the following changes in the accretable yield during the three and nine months ended June 30, 2020 and 2019.
Three Months Ended June 30,Nine Months Ended June 30,
2020201920202019
(dollars in thousands)
Balance, beginning of period$19,340  $33,680  $26,047  $34,973  
Accretion(1,854) (1,771) (5,547) (6,114) 
Reclassification to nonaccretable difference(776) (3,142) (3,790) (92) 
Balance, end of period$16,710  $28,767  $16,710  $28,767  
Schedule of impaired loans
The following table presents the Company’s impaired loans. This table excludes purchased credit impaired loans and loans measured at fair value with changes in fair value reported in earnings.
June 30, 2020September 30, 2019
Recorded InvestmentUnpaid Principal BalanceRelated AllowanceRecorded InvestmentUnpaid Principal BalanceRelated Allowance
(dollars in thousands)
Impaired loans:
With an allowance recorded:
Commercial real estate$84,064  $85,941  $18,993  $26,003  $26,297  $4,159  
Agriculture88,107  91,439  10,835  98,392  104,350  8,234  
Commercial non-real estate28,684  32,127  9,846  21,331  21,777  6,062  
Residential real estate5,513  6,034  2,101  3,829  4,311  1,795  
Consumer106  116  32  207  214  97  
Total impaired loans with an allowance recorded206,474  215,657  41,807  149,762  156,949  20,347  
With no allowance recorded:
Commercial real estate89,000  127,589  —  28,272  66,631  —  
Agriculture260,026  278,906  —  231,087  255,308  —  
Commercial non-real estate72,458  80,692  —  21,579  31,414  —  
Residential real estate5,389  7,801  —  3,290  5,454  —  
Consumer1  108  —  1  108  —  
Total impaired loans with no allowance recorded426,874  495,096  —  284,229  358,915  —  
Total impaired loans$633,348  $710,753  $41,807  $433,991  $515,864  $20,347  
The following table presents the average recorded investment on impaired loans and interest income recognized on impaired loans for the three and nine months ended June 30, 2020 and 2019.
Three Months Ended June 30,Nine Months Ended June 30,
2020201920202019
Average Recorded InvestmentInterest Income Recognized While on Impaired StatusAverage Recorded InvestmentInterest Income Recognized While on Impaired StatusAverage Recorded InvestmentInterest Income Recognized While on Impaired StatusAverage Recorded InvestmentInterest Income Recognized While on Impaired Status
(dollars in thousands)
Commercial real estate$152,871  $1,684  $40,199  $718  $113,146  $5,350  $39,399  $1,415  
Agriculture348,006  3,421  253,240  7,147  354,202  16,722  196,563  10,349  
Commercial non-real estate97,310  678  26,381  468  84,849  5,079  24,518  1,146  
Residential real estate10,901  120  6,911  123  9,957  513  6,831  305  
Consumer117  2  261  8  148  6  237  19  
Total$609,205  $5,905  $326,992  $8,464  $562,302  $27,670  $267,548  $13,234  
The following table provides purchased credit impaired loans at June 30, 2020 and September 30, 2019.
June 30, 2020September 30, 2019
Outstanding Balance ¹Recorded Investment ²Carrying Value ³Outstanding Balance ¹Recorded Investment ²Carrying Value ³
(dollars in thousands)
Commercial real estate$87,125  $20,903  $20,762  $90,295  $22,124  $21,965  
Agriculture4,119  3,086  3,086  4,462  2,756  2,491  
Commercial non-real estate7,016  136  107  7,190  221  192  
Residential real estate31,603  27,210  26,716  35,413  30,280  30,168  
Consumer399  340  310  493  438  438  
Total lending$130,262  $51,675  $50,981  $137,853  $55,819  $55,254  
1 Represents the legal balance of ASC 310-30 loans.
2 Represents the book balance of ASC 310-30 loans.
3 Represents the book balance of ASC 310-30 loans net of the related allowance for loan and lease losses.