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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 257,426,000 $ 236,330,000 $ 183,615,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization, accretion and other, net 22,970,000 64,050,000 33,914,000
Stock-based compensation expense 7,914,000 6,808,000 6,381,000
Provision (release) for credit losses 41,500,000 3,000,000 500,000
Loss (gain) on sale of investment securities (33,000) (99,000) (14,000)
Prepayment penalty on early extinguishment of debt 0 0 13,788,000
Gain on early termination of long term borrowing hedge 0 0 (14,110,000)
Gain on settlements of bank owned life insurance (821,000) (1,385,000) 0
Impairment loss on premises and equipment 6,000 0 944,000
Net realized (gain) loss on sales of premises, equipment and real estate owned (1,153,000) 655,000 (593,000)
Decrease (increase) in accrued interest receivable (23,131,000) (13,236,000) 3,163,000
Decrease (increase) in federal and state income tax receivable (6,650,000) 3,877,000 1,831,000
Decrease (increase) in cash surrender value of bank owned life insurance (5,976,000) (5,549,000) (5,514,000)
Decrease (increase) in other assets (67,342,000) (100,146,000) 155,599,000
Increase (decrease) in federal and state income tax liabilities (3,306,000) 8,386,000 (15,781,000)
Increase (decrease) in accrued expenses and other liabilities (7,447,000) 65,774,000 (49,269,000)
Net cash provided (used) by operating activities 213,957,000 268,465,000 314,454,000
CASH FLOWS FROM INVESTING ACTIVITIES      
Origination of loans and principal repayments, net (1,330,399,000) (1,748,955,000) (556,274,000)
Loans purchased (79,965,000) (576,697,000) (488,147,000)
FHLB & FRB stock purchase (654,805,000) (293,800,000) (296,073,000)
FHLB & FRB stock redeemed 623,058,000 301,590,000 335,200,000
Available-for-sale securities purchased (376,481,000) (587,942,000) (530,227,000)
Principal payments and maturities of available-for-sale securities 420,154,000 510,156,000 646,532,000
Proceeds from sales of available-for-sale investment securities 1,169,000 5,020,000 1,499,000
Held-to-maturity securities purchased 0 (195,357,000) 0
Principal payments and maturities of held-to-maturity securities 39,414,000 95,326,000 332,001,000
Proceeds from sales of real estate owned 7,192,000 6,978,000 3,340,000
Proceeds from settlements of bank owned life insurance 1,809,000 2,266,000 0
Purchase of strategic investments (12,500,000) 0 0
Net cash received (paid) in business combinations (2,590,000) 0 (1,500,000)
Proceeds from sales of premises and equipment 1,090,000 41,000 3,376,000
Premises and equipment purchased and REO improvements (15,063,000) (11,790,000) (29,472,000)
Net cash provided (used) by investing activities (1,377,917,000) (2,493,164,000) (579,745,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net increase (decrease) in customer accounts 40,759,000 487,458,000 1,762,488,000
Proceeds from borrowings 17,175,000,000 7,345,000,000 7,400,000,000
Repayments of borrowings (15,650,000,000) (6,940,000,000) (8,393,788,000)
Proceeds from the early termination of long term borrowing hedge 0 0 14,110,000
Proceeds from stock-based awards 1,089,000 1,823,000 339,000
Proceeds from issuance of preferred stock, net 0 0 293,325,000
Dividends paid on common stock (63,792,000) (61,576,000) (65,876,000)
Dividends paid on preferred stock (14,625,000) (14,625,000) (6,378,000)
Proceeds from employee stock purchase 177,000 0 0
Treasury stock purchased (30,463,000) (3,260,000) (348,651,000)
Increase (decrease) in advance payments by borrowers for taxes and insurance 2,499,000 3,035,000 (2,446,000)
Net cash provided (used) by financing activities 1,460,644,000 817,855,000 653,123,000
Increase (decrease) in cash and cash equivalents 296,684,000 (1,406,844,000) 387,832,000
Cash and cash equivalents at beginning of year 683,965,000 2,090,809,000 1,702,977,000
Cash and cash equivalents at end of year 980,649,000 683,965,000 2,090,809,000
Non-cash investing activities      
Real estate acquired through foreclosure 121,000 73,000 221,000
Other personal property acquired through foreclosure 0 577,000 0
Non-cash financing activities      
Preferred stock dividend payable 3,656,000 3,656,000 3,656,000
Cash paid during the year for      
Interest 364,386,000 65,175,000 71,845,000
Income taxes $ 61,245,000 $ 35,098,000 $ 47,854,000