Parent Company Only Financial Statements

12 Months Ended

Sep. 30, 2020

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,
	2020		2019
	(dollars in thousands)
Assets
Cash and cash equivalents	$	36,420	$	57,543
Investment in subsidiaries	1,229,227		1,950,077
Net deferred tax assets	1,395		1,716
Other assets	6,086		689
Total assets	$	1,273,128	$	2,010,025
Liabilities and stockholders’ equity
Subordinated debentures and subordinated notes payable	$	108,832	$	108,636
Accrued expenses and other liabilities	1,363		1,140
Total liabilities	110,195		109,776
Stockholders’ equity
Common stock	550		563
Additional paid-in capital	1,183,647		1,228,714
Retained earnings	(57,169)		657,475
Accumulated other comprehensive income	35,905		13,497
Total stockholders’ equity	1,162,933		1,900,249
Total liabilities and stockholders’ equity	$	1,273,128	$	2,010,025

Condensed Statements of Comprehensive Income

(Dollars in Thousands)

	Fiscal Years Ended September 30,
	2020		2019		2018
	(dollars in thousands)
Income
Dividends from subsidiary bank	$	75,079	$	148,128	$	111,159
Dividends on securities	2		19		51
Other	87		120		103
Total income	75,168		148,267		111,313
Expenses
Interest on subordinated debentures and subordinated notes payable	4,515		5,540		5,040
Salaries and employee benefits	5,295		6,288		5,849
Professional fees	1,291		1,035		1,038
Other	2,913		2,653		2,456
Total expense	14,014		15,516		14,383
Income before income tax and equity in undistributed net income of subsidiaries	61,154		132,751		96,930
Income tax benefit	(1,114)		(2,965)		(3,075)
Income before equity in undistributed net income of subsidiaries	62,268		135,716		100,005
Equity in undistributed net income of subsidiaries	(743,076)		31,649		57,911
Net income	$	(680,808)	$	167,365	$	157,916

Condensed Statements of Cash Flows

(Dollars in Thousands)

	Fiscal Years Ended September 30,
	2020		2019		2018
	(dollars in thousands)
Operating Activities
Net income	$	(680,808)	$	167,365	$	157,916
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	196		168		166
Stock-based compensation	3,705		4,582		4,419
Deferred income taxes	321		(227)		13
Changes in:
Other assets	(5,397)		1,367		6,459
Accrued interest and other liabilities	223		268		(140)
Equity in undistributed net income of subsidiaries	743,076		(31,649)		(57,911)
Net cash provided by operating activities	61,316		141,874		110,922
Financing Activities
Common stock repurchased	(39,983)		(94,351)		—
Dividends paid	(42,456)		(62,904)		(53,002)
Net cash used in financing activities	(82,439)		(157,255)		(53,002)
Net (decrease) increase in cash and cash equivalents	(21,123)		(15,381)		57,920
Cash and cash equivalents, beginning of period	57,543		72,924		15,004
Cash and cash equivalents, end of period	$	36,420	$	57,543	$	72,924