Subordinated Debentures and Subordinated Notes Payable (Tables)

12 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Summary of subordinated debentures and subordinated notes payable

The following table presents the subordinated debentures and subordinated notes payable at September 30, 2020 and 2019.

	September 30, 2020				September 30, 2019
	Amount Outstanding		Common Shares Held in Other Assets		Amount Outstanding		Common Shares Held in Other Assets
	(dollars in thousands)
Junior subordinated debentures payable to non-consolidated trusts
GW Statutory Trust IV, variable rate of 2.85%, plus 3 month LIBOR	$	23,093	$	693	$	23,093	$	693
GW Statutory Trust VI, variable rate of 1.48%, plus 3 month LIBOR	30,928		928		30,928		928
SSB Trust II, variable rate of 1.85%, plus 3 month LIBOR	2,062		62		2,062		62
HF Capital Trust III, variable rate of 3.35%, plus 3 month LIBOR	5,155		155		5,155		155
HF Capital Trust IV, variable rate of 3.10%, plus 3 month LIBOR	7,217		217		7,217		217
HF Capital Trust V, variable rate of 1.83%, plus 3 month LIBOR	5,310		310		5,310		310
HF Capital Trust VI, variable rate of 1.65%, plus 3 month LIBOR	2,155		155		2,155		155
Total junior subordinated debentures payable	75,920		$	2,520	75,920		$	2,520
Less: fair value adjustment ¹	(2,088)				(2,223)
Total junior subordinated debentures payable, net of fair value adjustment	73,832				73,697
Subordinated notes payable
Fixed to floating rate effective August 2020, 3.15% plus 3 month LIBOR	35,000				35,000
Less: unamortized debt issuance costs	—				(61)
Total subordinated notes payable	35,000				34,939
Total subordinated debentures and subordinated notes payable	$	108,832			$	108,636
1 Adjustment reflects the fair value adjustments related to the junior subordinated deferrable interest debentures assumed as part of the HF Financial acquisition.