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Stock-Based Compensation
 12 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based CompensationOn September 26, 2014, the Board of Directors adopted, and on October 10, 2014 NAB, at that time the Company's controlling shareholder, approved the Great Western Bancorp, Inc. 2014 Omnibus Incentive Compensation Plan ("2014 Plan"), the Great Western Bancorp, Inc. 2014 Non-Employee Director Plan ("2014 Director Plan"), and the Great Western Bancorp, Inc. Executive Incentive Compensation Plan ("Bonus Plan"), collectively ("the Plans"), which provide for the issuance of restricted share units and performance based share units to certain officers, employees and directors of the Company. On February 22, 2018, The Company's stockholders approved amendments to the 2014 Plan and the 2014 Director Plan to increase the number of shares available for future grants under the Plans. The Plans were primarily established to enhance the Company’s ability to attract, retain and motivate employees. The Company’s Board of Directors, the Compensation Committee of the Board of Directors ("Compensation Committee"), or executive management upon delegation of the Compensation Committee has exclusive authority to select the employees and others, including directors, to receive the awards and to establish the terms and conditions of each award made pursuant to the Company’s stock-based compensation plans.
Stock units issued under the Company’s restricted and performance based stock plans may not be sold or otherwise transferred until the vesting period has been met and, if applicable, performance objectives have been obtained. During the vesting periods, participants do not have voting rights and dividends are accumulated until the time upon which the award vests. Upon specified events, as defined in the Plans, stock unit awards that have not vested and/or performance hurdles that have not been met will be forfeited.
Based on the substantive terms of each award, restricted and performance-based awards are classified as equity awards and accounted for under the treasury stock method. The fair value of equity-classified awards is based on the market price of the stock on the measurement date and is amortized as compensation expense on a straight-line basis over the vesting or performance period.
Stock compensation is recognized based on the number of awards to vest using actual forfeiture amounts. For performance-based stock awards, an estimate is made of the number of shares expected to vest as a result of actual performance against the performance targets to determine the amount of compensation expense to be recognized. The estimate is reevaluated quarterly and total compensation expense is adjusted for any change in the current period. Stock-based compensation expense is included in salaries and employee benefits expense in the consolidated statements of income. For the fiscal years ended September 30, 2020, 2019 and 2018 stock compensation expense was $5.0 million, $5.9 million and $5.5 million respectively. Related income tax benefits recognized for the fiscal years ended September 30, 2020, 2019 and 2018 were $1.2 million, $1.5 million and $1.7 million, respectively.
The following is a summary of the Plans’ restricted share and performance-based stock award activity as of September 30, 2020, 2019 and 2018. The number of performance shares granted in the following table are reflected at the amount of achievement of the pre-established targets.
September 30, 2020September 30, 2019September 30, 2018
Common
Shares		Weighted-Average Grant Date Fair ValueCommon
Shares		Weighted-Average Grant Date Fair ValueCommon
Shares		Weighted-Average Grant Date Fair Value
Restricted Shares
Restricted shares, beginning of fiscal year190,805 $37.20 163,287 $37.86 180,337 $33.06 
Granted147,282 30.68 106,753 37.27 89,376 41.07 
Vested(84,316)38.60 (76,210)38.64 (97,682)32.11 
Forfeited(4,591)36.18 (3,025)38.67 (8,744)35.99 
Canceled— — — — — — 
Restricted shares, end of period249,180 $32.89 190,805 $37.20 163,287 $37.86 
Vested, but not issuable at end of period62,992 $33.98 50,770 $33.88 39,514 $32.90 
Performance Shares
Performance shares, beginning of fiscal year173,332 $38.50 175,196 $36.29 133,604 $33.39 
Granted62,278 40.15 60,583 32.77 53,682 29.52 
Vested(54,861)39.43 (59,937)30.79 (7,017)18.00 
Forfeited(5,009)37.90 (2,510)39.25 (5,073)37.75 
Canceled— — — — — — 
Performance shares, end of period175,740 $33.56 173,332 $38.50 175,196 $36.29 
Vested, but not issuable at end of period5,612 $18.00 5,612 $18.00 5,612 $18.00 
As of September 30, 2020, there was $5.3 million of unrecognized compensation cost related to non-vested restricted stock awards expected to be recognized over a period of 2.2 years. The fair value of the vested awards was $0.9 million at September 30, 2020 and $1.9 million at September 30, 2019 and September 30, 2018.