PARENT COMPANY FINANCIAL STATEMENTS (Tables)

12 Months Ended

Sep. 30, 2022

Condensed Financial Information Disclosure [Abstract]

Condensed Statements of Financial Condition

Condensed Statements of Financial Condition
(Dollars in thousands)	September 30, 2022		September 30, 2021
ASSETS
Cash and cash equivalents	$	13,117	$	3,296
Investment securities held to maturity, at cost	8,003		4,623
Investment in subsidiaries	665,172		956,584
Other assets	928		278
Total assets	$	687,220	$	964,781
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Subordinated debentures	$	33,661	$	87,641
Other liabilities	8,419		5,256
Total liabilities	42,080		92,897
STOCKHOLDERS' EQUITY
Common stock	288		317
Additional paid-in capital	617,403		604,484
Retained earnings	245,394		259,189
Accumulated other comprehensive income (loss)	(213,080)		7,599
Treasury stock, at cost	(4,835)		(860)
Total equity attributable to parent	645,170		870,729
Non-controlling interest	(30)		1,155
Total stockholders' equity	645,140		871,884
Total liabilities and stockholders' equity	$	687,220	$	964,781

Condensed Statements of Operations

Condensed Statements of Operations
	Fiscal Years Ended September 30,
(Dollars in thousands)	2022		2021		2020
Interest expense	$	3,982	$	4,915	$	5,168
Other expense	1,062		1,287		1,256
Total expense	5,044		6,202		6,424
Loss before income taxes and equity in undistributed net income of subsidiaries	(5,044)		(6,202)		(6,424)
Income tax benefit	(1,029)		395		(3,638)
Loss before equity in undistributed net income of subsidiaries	(4,015)		(6,597)		(2,786)
Equity in undistributed net income of subsidiaries	159,652		147,895		107,476
Other Income	749		410		30
Total Income	160,401		148,305		107,506
Net income attributable to parent	$	156,386	$	141,708	$	104,720

Condensed Statements of Cash Flows

Condensed Statements of Cash Flows
	Fiscal Year Ended September 30,
(Dollars in thousands)	2022		2021		2020
Cash flows from operating activities:
Net income attributable to parent	$	156,386	$	141,708	$	104,720
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, amortization and accretion, net	1,020		173		163
Equity in undistributed net income of subsidiaries	(159,652)		(147,895)		(107,476)
Net change in accrued interest receivable	(15)		—		—
Net change in other assets	(636)		3,030		(3,149)
Net change in accrued expenses and other liabilities	3,163		(2,698)		(2,660)
Cash dividend received	229,200		104,000		118,000
Stock compensation	10,004		6,852		10,221
Net cash provided by operating activities	239,470		105,170		119,819
Cash flows from investing activities:
Alternative investments	(3,380)		(3,415)		(797)
Net cash (used in) investing activities	(3,380)		(3,415)		(797)
Cash flows from financing activities:
Redemption of long-term borrowings	(75,000)		—		—
Proceeds from long-term borrowings	20,000		—		—
Dividends paid on common stock	(5,921)		(6,400)		(7,100)
Issuance of common stock due to exercise of stock options	—		—		266
Issuance of common stock due to restricted stock	1		—		2
Issuance of common stock due to ESOP	2,886		3,036		3,220
Repurchases of common stock	(168,235)		(99,878)		(118,738)
Net cash (used in) financing activities	(226,269)		(103,242)		(122,350)
Net change in cash and cash equivalents	9,821		(1,487)		(3,328)
Cash and cash equivalents at beginning of fiscal year	3,296		4,783		8,111
Cash and cash equivalents at end of fiscal year	$	13,117	$	3,296	$	4,783