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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
INTEREST INCOME        
Loans receivable $ 337,118 $ 232,167 $ 857,251 $ 659,070
Mortgage-backed securities 17,523 10,454 41,694 31,489
Investment securities and cash equivalents 37,300 29,859 98,668 70,686
Total income 391,941 272,480 997,613 761,245
INTEREST EXPENSE        
Customer accounts 154,359 70,062 367,194 153,831
Borrowings, senior debt and junior subordinated debentures 60,396 33,718 142,399 80,877
Total interest expense 214,755 103,780 509,593 234,708
Net interest income 177,186 168,700 488,020 526,537
Provision for credit losses 1,500 9,000 17,500 15,000
Net interest income after provision 175,686 159,700 470,520 511,537
NON-INTEREST INCOME        
Gain (loss) on sale of investment securities 80 0 251 0
Gain (loss) on termination of hedging derivatives 54 (926) 169 (900)
Loan fee income 594 1,000 1,988 3,154
Deposit fee income $ 6,960 $ 6,660 $ 20,460 $ 19,201
Revenue, Product and Service [Extensible Enumeration] Deposit Account [Member] Deposit Account [Member] Deposit Account [Member] Deposit Account [Member]
Other income $ 9,567 $ 7,037 $ 21,946 $ 16,412
Total other income 17,255 13,771 44,814 37,867
NON-INTEREST EXPENSE        
Compensation and benefits 57,169 50,456 180,165 150,970
Occupancy 10,904 10,444 31,193 31,464
FDIC insurance premiums 7,600 5,350 22,070 13,025
Product delivery 6,090 5,217 17,680 15,154
Information technology 13,428 11,661 39,177 36,775
Other expense 14,888 11,571 50,046 36,470
Total other expense 110,079 94,699 340,331 283,858
Gain (loss) on real estate owned, net (124) 722 387 411
Income before income taxes 82,738 79,494 175,390 265,957
Income tax expense 18,178 17,719 36,489 58,739
Net income 64,560 61,775 138,901 207,218
Dividends on preferred stock 3,656 3,656 10,969 10,969
Net income available to common shareholders $ 60,904 $ 58,119 $ 127,932 $ 196,249
PER SHARE DATA        
Basic earnings per common share (in dollars per share) $ 0.75 $ 0.89 $ 1.78 $ 3.00
Diluted earnings per common share (in dollars per share) 0.75 0.89 1.78 3.00
Dividends paid on common stock (in dollars per share) $ 0.26 $ 0.25 $ 0.77 $ 0.74
Basic weighted average number of shares outstanding (in shares) 81,374,811 65,194,880 71,905,924 65,348,709
Diluted weighted average number of shares outstanding (in shares) 81,393,708 65,212,846 71,930,215 65,442,910