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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 226,068 $ 200,041 $ 257,426
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization, accretion and other, net 9,718 134,103 22,970
Stock-based compensation expense 8,519 9,181 7,914
Provision (release) for credit losses 7,750 17,500 41,500
Loss (gain) on sale of investment securities (20) (342) (33)
Gain on settlements of bank owned life insurance 0 0 (821)
Impairment loss on premises and equipment 992 0 6
Net realized (gain) loss on sales of premises, equipment and real estate owned (419) (2,555) (1,153)
Decrease (increase) in accrued interest receivable 4,238 9,873 (23,131)
Decrease (increase) in federal and state income tax receivable 6,124 18,751 (6,650)
Decrease (increase) in cash surrender value of bank owned life insurance (7,526) (6,933) (5,976)
Decrease (increase) in other assets (27,885) 148,001 (67,342)
Increase (decrease) in federal and state income tax liabilities 0 0 (3,306)
Increase (decrease) in accrued expenses and other liabilities 9,393 (88,387) (7,447)
Net cash provided by (used in) operating activities 236,952 439,233 213,957
CASH FLOWS FROM INVESTING ACTIVITIES      
Origination of loans and principal repayments, net 973,280 (348,528) (1,330,399)
Loans purchased (143,605) 0 (79,965)
FHLB & FRB stock purchase (496,542) (602,941) (654,805)
FHLB & FRB stock redeemed 504,092 669,975 623,058
Available-for-sale securities purchased (1,482,058) (549,159) (376,481)
Principal payments and maturities of available-for-sale securities 561,808 386,564 420,154
Proceeds from sales of available-for-sale investment securities 797 182,682 1,169
Held-to-maturity securities purchased (261,842) (47,092) 0
Principal payments and maturities of held-to-maturity securities 53,030 36,013 39,414
Proceeds from sales of real estate owned 2,865 6,802 7,192
Proceeds from settlements of bank owned life insurance 0 0 1,809
Equity method investments purchased (2,861) (4,197) (12,500)
Net cash received (paid) in business combinations (360) 623,583 (2,590)
Proceeds from sales of loans 0 2,956,856 0
Proceeds from sales of premises and equipment 1,689 1,341 1,090
Premises and equipment purchased and REO improvements (28,707) (24,681) (15,063)
Net cash provided by (used in) investing activities (318,414) 3,287,218 (1,377,917)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net increase (decrease) in customer accounts 63,666 (324,506) 40,759
Proceeds from borrowings 11,019,793 17,037,035 17,175,000
Repayments of borrowings (12,527,894) (18,842,525) (15,650,000)
Principal payments and maturities of senior debt 0 (95,000) 0
Proceeds from stock-based awards 3,943 5,187 1,089
Dividends paid on common stock (84,639) (74,267) (63,792)
Dividends paid on preferred stock (14,625) (14,625) (14,625)
Proceeds from employee stock purchase 842 992 177
Treasury stock purchased (101,931) (27,069) (30,463)
Increase (decrease) in advance payments by borrowers for taxes and insurance (1,485) 8,780 2,499
Net cash provided by (used by) financing activities (1,642,330) (2,325,998) 1,460,644
Increase (decrease) in cash and cash equivalents (1,723,792) 1,400,453 296,684
Cash and cash equivalents at beginning of year 2,381,102 980,649 683,965
Cash and cash equivalents at end of year 657,310 2,381,102 980,649
Non-cash investing activities      
Real estate acquired through foreclosure 5,873 681 121
Non-cash financing activities      
Preferred stock dividend payable 3,656 3,656 3,656
Cash paid during the year for      
Interest 746,932 739,076 364,386
Income taxes 41,647 20,283 61,245
Summary of non-cash activities related to acquisitions      
Fair value of assets and intangibles acquired 0 7,677,177 0
Fair value of liabilities assumed 0 (7,316,380) 0
Net fair value of acquired assets (liabilities) $ 0 $ 360,797 $ 0