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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 138,901,000 $ 207,218,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, accretion and other, net 194,150,000 15,667,000
Stock-based compensation expense 7,437,000 5,923,000
Provision (release) for credit losses 17,500,000 15,000,000
Loss (gain) on sale of investment securities (250,000) (3,000)
Gain on settlements of bank owned life insurance 0 (821,000)
Net realized (gain) loss on sales of premises, equipment, and real estate owned (2,531,000) (1,033,000)
Impairment loss on premises and equipment 0 6,000
Decrease (increase) in accrued interest receivable 9,290,000 (18,059,000)
Decrease (increase) in federal and state income tax receivable 9,246,000 0
Decrease (increase) in cash surrender value of bank owned life insurance (5,119,000) (4,409,000)
Decrease (increase) in other assets 42,415,000 (50,642,000)
Increase (decrease) in federal and state income tax liabilities 0 (674,000)
Increase (decrease) in accrued expenses and other liabilities (68,427,000) (37,095,000)
Net cash provided by (used in) operating activities 342,612,000 131,078,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Origination of loans and principal repayments, net (447,832,000) (1,208,282,000)
Loans purchased 0 (79,965,000)
Loans held for sale 0 0
FHLB stock purchased (517,575,000) (510,805,000)
FHLB stock redeemed 608,775,000 475,003,000
Available-for-sale securities purchased (321,308,000) (317,027,000)
Principal payments and maturities of available-for-sale securities 270,178,000 339,604,000
Proceeds from sales of available-for-sale securities 179,215,000 94,000
Held-to-maturity securities purchased (47,092,000) 0
Principal payments and maturities of held-to-maturity securities 25,503,000 28,895,000
Proceeds from sales of real estate owned 6,271,000 2,715,000
Proceeds from settlement of bank owned life insurance 0 1,809,000
Purchase of strategic investments (4,097,000) (7,500,000)
Net cash received (paid) in business combinations 623,583,000 (785,000)
Proceeds from sales of loans 2,564,791,000 0
Proceeds from sales of premises and equipment 1,341,000 947,000
Premises and equipment purchased and REO improvements (17,482,000) (11,217,000)
Net cash provided by (used in) investing activities 2,924,271,000 (1,286,514,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase (decrease) in customer accounts (517,961,000) 90,854,000
Proceeds from borrowings 15,936,735,000 13,575,000,000
Repayments of borrowings (17,072,226,000) (11,950,000,000)
Proceeds from stock-based awards 2,488,000 1,039,000
Dividends paid on common stock (53,404,000) (47,826,000)
Dividends paid on preferred stock (10,969,000) (10,968,000)
Proceeds from employee stock purchase 780,000 0
Treasury stock purchased (26,819,000) (30,450,000)
Increase (decrease) in advances payments by borrowers for taxes and insurance (13,652,000) (16,535,000)
Net cash provided by (used in) financing activities (1,755,028,000) 1,611,114,000
Increase (decrease) in cash and cash equivalents 1,511,855,000 455,678,000
Cash, cash equivalents and restricted cash at beginning of period 980,649,000 683,965,000
Cash, cash equivalents and restricted cash at end of period 2,492,504,000 1,139,643,000
Non-cash investing activities    
Real estate acquired through foreclosure 0 121,000
Non-cash financing activities    
Preferred stock dividend payable 3,656,000 3,656,000
Cash paid (received) during the period for    
Interest 534,614,000 243,465,000
Income tax 14,065,000 47,251,000
The following summarizes the non-cash activities related to acquisitions    
Fair value of assets and intangibles acquired 7,676,486,000 0
Fair value of liabilities assumed (7,316,542,000) 0
Net fair value of assets (liabilities) $ 359,944,000 $ 0