PATHWARD FINANCIAL, INC., 10-Q filed on 5/7/2024
Quarterly Report
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Cover Page - shares
 6 Months Ended
Mar. 31, 2024
May 01, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2024  
Document Transition Report false  
Entity File Number 0-22140  
Entity Registrant Name PATHWARD FINANCIAL, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 42-1406262  
Entity Address, Address Line One 5501 South Broadband Lane  
Entity Address, City or Town Sioux Falls  
Entity Address, State or Province SD  
Entity Address, Postal Zip Code 57108  
City Area Code 877  
Local Phone Number 497-7497  
Title of 12(b) Security Common Stock, $.01 par value  
Trading Symbol CASH  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   25,270,584
Entity Central Index Key 0000907471  
Current Fiscal Year End Date --09-30  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q2  
Amendment Flag false  
v3.24.1.u1
Condensed Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Mar. 31, 2024
Sep. 30, 2023
ASSETS    
Cash and cash equivalents $ 347,888 $ 375,580
Securities available for sale, at fair value 1,779,458 1,804,228
Securities held to maturity, at amortized cost (fair value $31,113 and $31,425, respectively) 34,682 36,591
Federal Reserve Bank and Federal Home Loan Bank Stock, at cost 25,844 28,210
Loans held for sale 25,946 77,779
Loans and leases 4,409,385 4,366,116
Allowance for credit losses (80,777) (49,705)
Accrued interest receivable 30,294 23,282
Premises, furniture, and equipment, net 37,266 39,160
Rental equipment, net 215,885 211,750
Goodwill and intangible assets 328,001 330,225
Other assets 283,245 292,327
Total assets 7,437,117 7,535,543
LIABILITIES    
Deposits 6,368,344 6,589,182
Short-term borrowings 31,000 13,000
Long-term borrowings 33,373 33,873
Accrued expenses and other liabilities 264,938 248,863
Total liabilities 6,697,655 6,884,918
STOCKHOLDERS’ EQUITY    
Preferred stock, 3,000,000 shares authorized, no shares issued, none outstanding at March 31, 2024 and September 30, 2023, respectively 0 0
Additional paid-in capital 634,415 628,500
Retained earnings 317,964 278,655
Accumulated other comprehensive loss (206,570) (255,443)
Treasury stock, at cost, 129,929 and 41,980 common shares at March 31, 2024 and September 30, 2023, respectively (6,181) (344)
Total equity attributable to parent 739,882 651,630
Noncontrolling interest (420) (1,005)
Total stockholders’ equity 739,462 650,625
Total liabilities and stockholders’ equity 7,437,117 7,535,543
Common stock, $0.01 par value; 90,000,000 shares authorized, 25,507,915 and 26,225,563 shares issued, 25,377,986 and 26,183,583 shares outstanding at March 31, 2024 and September 30, 2023, respectively    
STOCKHOLDERS’ EQUITY    
Common stock 254 262
Common stock, Nonvoting, $0.01 par value; 3,000,000 shares authorized, no shares issued, none outstanding at March 31, 2024 and September 30, 2023, respectively    
STOCKHOLDERS’ EQUITY    
Common stock $ 0 $ 0
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Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2024
Sep. 30, 2023
STOCKHOLDERS’ EQUITY    
Investment securities held to maturity, fair value $ 31,113 $ 31,425
Preferred stock, shares authorized (in shares) 3,000,000 3,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Treasury stock (in shares) 129,929 41,980
Common Stock    
STOCKHOLDERS’ EQUITY    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 90,000,000 90,000,000
Common stock, shares issued (in shares) 25,507,915 26,225,563
Common stock, shares outstanding (in shares) 25,377,986 26,183,583
Common Stock, Nonvoting    
STOCKHOLDERS’ EQUITY    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 3,000,000 3,000,000
Common stock, shares issued (in shares) 0 0
Common stock, shares outstanding (in shares) 0 0
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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Interest and dividend income:        
Loans and leases, including fees $ 102,750 $ 83,879 $ 197,713 $ 152,275
Mortgage-backed securities 9,998 10,326 20,047 20,738
Other investments 14,013 10,482 24,899 16,734
Total interest and dividend income 126,761 104,687 242,659 189,747
Interest expense:        
Deposits 6,685 2,096 10,211 2,238
FHLB advances and other borrowings 1,775 1,186 4,111 2,047
Total interest expense 8,460 3,282 14,322 4,285
Net interest income 118,301 101,405 228,337 185,462
Provision for credit loss 26,052 36,763 35,942 46,539
Net interest income after provision for credit loss 92,249 64,642 192,395 138,923
Noninterest income:        
Gain on sale of trademarks 0 0 0 10,000
Gain (loss) on sale of other 1,695 (666) 4,535 (164)
Other income 6,044 4,477 11,223 8,032
Total noninterest income 128,945 127,038 181,706 192,815
Noninterest expense:        
Compensation and benefits 54,073 47,547 100,725 90,564
Refund transfer product expense 7,366 7,863 7,558 7,968
Refund advance expense 1,846 1,603 1,876 1,630
Card processing 35,163 26,924 69,747 49,607
Occupancy and equipment expense 9,293 8,510 18,141 16,822
Operating lease equipment depreciation 10,424 14,719 20,847 24,347
Legal and consulting 6,141 4,921 11,033 14,380
Intangible amortization 1,240 1,435 2,224 2,693
Impairment expense 2,013 500 2,013 524
Other expense 12,872 13,114 25,541 23,660
Total noninterest expense 140,431 127,136 259,705 232,195
Income before income tax expense 80,763 64,544 114,396 99,543
Income tax expense 15,246 9,176 20,965 15,753
Net income before noncontrolling interest 65,517 55,368 93,431 83,790
Net income attributable to noncontrolling interest 249 597 506 1,177
Net income attributable to parent $ 65,268 $ 54,771 $ 92,925 $ 82,613
Earnings per common share:        
Basic (in dollars per share) $ 2.56 $ 1.99 $ 3.61 $ 2.95
Diluted (in dollars per share) $ 2.56 $ 1.99 $ 3.61 $ 2.95
Refund transfer product fees        
Noninterest income:        
Noninterest income: $ 28,942 $ 30,205 $ 29,364 $ 30,882
Refund advance fee income        
Noninterest income:        
Noninterest income: 43,200 37,995 43,311 38,612
Card and deposit fees        
Noninterest income:        
Noninterest income: 35,344 42,087 66,094 79,805
Rental income        
Noninterest income:        
Noninterest income: $ 13,720 $ 12,940 $ 27,179 $ 25,648
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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Statement of Comprehensive Income [Abstract]        
Net income before noncontrolling interest $ 65,517 $ 55,368 $ 93,431 $ 83,790
Other comprehensive income (loss):        
Change in net unrealized gain (loss) on debt securities (23,414) 18,448 65,121 33,156
Total (23,414) 18,448 65,121 33,156
Unrealized gain (loss) on currency translation (579) 60 39 447
Deferred income tax effect (5,856) 4,647 16,287 8,352
Total other comprehensive income (loss) (18,137) 13,861 48,873 25,251
Total comprehensive income 47,380 69,229 142,304 109,041
Total comprehensive income attributable to noncontrolling interest 249 597 506 1,177
Comprehensive income attributable to parent $ 47,131 $ 68,632 $ 141,798 $ 107,864
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Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($)
$ in Thousands
Total
Total Pathward Financial, Inc. Stockholders’ Equity
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Noncontrolling interest
Beginning Balance at Sep. 30, 2022 $ 645,140 $ 645,170 $ 288 $ 617,403 $ 245,394 $ (213,080) $ (4,835) $ (30)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Cash dividends declared on common stock (2,788) (2,788)     (2,788)      
Issuance of common stock due to restricted stock 1 1 1          
Repurchases of common stock (82,281) (82,281) (18) 18 (80,173)   (2,108)  
Stock compensation 5,829 5,829   5,829        
Total other comprehensive income (loss) 25,251 25,251       25,251    
Net income 83,790 82,613     82,613     1,177
Net distribution to noncontrolling interest (1,698)             (1,698)
Ending Balance at Mar. 31, 2023 673,244 673,795 271 623,250 245,046 (187,829) (6,943) (551)
Beginning Balance at Dec. 31, 2022 659,133 659,340 282 620,681 246,891 (201,690) (6,824) (207)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Cash dividends declared on common stock (1,386) (1,386)     (1,386)      
Repurchases of common stock (55,349) (55,349) (11) 11 (55,230)   (119)  
Stock compensation 2,558 2,558   2,558        
Total other comprehensive income (loss) 13,861 13,861       13,861    
Net income 55,368 54,771     54,771     597
Net distribution to noncontrolling interest (941)             (941)
Ending Balance at Mar. 31, 2023 673,244 673,795 271 623,250 245,046 (187,829) (6,943) (551)
Beginning Balance at Sep. 30, 2023 650,625 651,630 262 628,500 278,655 (255,443) (344) (1,005)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Cash dividends declared on common stock (2,566) (2,566)     (2,566)      
Issuance of common stock due to restricted stock 3 3 3          
Repurchases of common stock (56,364) (56,364) (11) 11 (50,527)   (5,837)  
Stock compensation 5,904 5,904   5,904        
Total other comprehensive income (loss) 48,873 48,873       48,873    
Joint venture membership interest divestiture (523) (523)     (523)      
Net income 93,431 92,925     92,925     506
Net distribution to noncontrolling interest 79             79
Ending Balance at Mar. 31, 2024 739,462 739,882 254 634,415 317,964 (206,570) (6,181) (420)
Beginning Balance at Dec. 31, 2023 729,282 729,792 260 629,737 293,463 (188,433) (5,235) (510)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Cash dividends declared on common stock (1,267) (1,267)     (1,267)      
Issuance of common stock due to restricted stock 2 2 2          
Repurchases of common stock (40,446) (40,446) (8) 8 (39,500)   (946)  
Stock compensation 4,670 4,670   4,670        
Total other comprehensive income (loss) (18,137) (18,137)       (18,137)    
Net income 65,517 65,268     65,268     249
Net distribution to noncontrolling interest (159)             (159)
Ending Balance at Mar. 31, 2024 $ 739,462 $ 739,882 $ 254 $ 634,415 $ 317,964 $ (206,570) $ (6,181) $ (420)
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Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]        
Cash dividends declared on common stock (in dollars per share) $ 0.05 $ 0.05 $ 0.10 $ 0.10
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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income before noncontrolling interest $ 93,431 $ 83,790
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 29,457 34,390
Provision for credit loss 35,942 46,539
Provision for deferred taxes 4,059 2,545
Originations of loans held for sale (933,786) (608,628)
Proceeds from sales of loans held for sale 968,998 604,363
Net change in loans held for sale 17,924 652
Net realized (gain) on loans held for sale (1,370) (110)
Net realized (gain) on trademarks 0 (10,000)
Net realized (gain) loss on other (3,165) 272
Impairment on rental equipment 2,013 24
Net change in accrued interest receivable (7,012) (4,455)
Net change in other assets (13,724) 14,050
Net change in accrued expenses and other liabilities 16,729 14,568
Stock compensation 5,904 5,829
Net cash provided by operating activities 215,400 183,829
Cash flows from investing activities:    
Proceeds from maturities of and principal collected on securities available for sale 89,476 89,162
Proceeds from maturities of and principal collected on securities held to maturity 1,811 2,822
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock (183,010) (120,160)
Redemption of Federal Reserve Bank and Federal Home Loan Bank stock 185,377 119,586
Purchases of loans and leases (163,091) (187,834)
Net change in loans and leases 255,909 191,195
Purchases of premises, furniture, and equipment (3,592) (3,428)
Purchases of rental equipment (173,005) (238,999)
Proceeds from sales of rental equipment 4,951 6,736
Net change in rental equipment 188 (153)
Proceeds from sales of foreclosed real estate and repossessed assets 0 1
Proceeds from sale of trademarks 0 10,000
Proceeds from sale of other assets 4,091 0
Net cash provided by (used in) investing activities 19,105 (131,072)
Cash flows from financing activities:    
Net change in deposits (220,838) 36,659
Net change in short-term borrowings 18,000 43,000
Principal payments on other liabilities (550) 0
Proceeds from other liabilities 0 (1,026)
Payment of debt issuance costs 0 (511)
Dividends paid on common stock (2,566) (2,788)
Issuance of common stock due to restricted stock 3 1
Repurchases of common stock (56,364) (82,281)
Investment by (distributions to) noncontrolling interest 79 (1,698)
Net cash (used in) financing activities (262,236) (8,644)
Effect of exchange rate changes on cash 39 447
Net change in cash and cash equivalents (27,692) 44,560
Cash and cash equivalents at beginning of fiscal year 375,580 388,038
Cash and cash equivalents at end of fiscal period 347,888 432,598
Supplemental disclosure of cash flow information:    
Interest 12,608 4,273
Income taxes 9,694 7,842
Franchise and other taxes 398 472
Supplemental schedule of non-cash investing activities:    
Loans and leases to rental equipment 2,538 1,449
Rental equipment to loan and leases 143,752 202,330
Recognition of operating lease ROU assets, net of measurements 654 0
Joint venture membership interest divestiture $ 523 $ 0
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BASIS OF PRESENTATION
 6 Months Ended
Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS OF PRESENTATION BASIS OF PRESENTATION
The interim unaudited Condensed Consolidated Financial Statements contained herein should be read in conjunction with the audited consolidated financial statements and accompanying notes to the consolidated financial statements for the fiscal year ended September 30, 2023 included in Pathward Financial, Inc.’s ("Pathward Financial" or the “Company") Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on November 21, 2023. Accordingly, footnote disclosures which would substantially duplicate the disclosures contained in the audited consolidated financial statements have been omitted.

The financial information of the Company included herein has been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial reporting and has been prepared pursuant to the rules and regulations for reporting on Form 10-Q and Rule 10-01 of Regulation S-X. Such information reflects all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the financial position and results of operations for the periods presented. The results of the three and six months ended March 31, 2024 are not necessarily indicative of the results expected for the fiscal year ending September 30, 2024.

Certain prior fiscal year amounts have been reclassified to conform to the current year financial statement presentation. These reclassifications did not impact previously reported net income, comprehensive income or the statement of financial condition.

Additionally, certain prior fiscal year amounts within Note 4. Loans and Leases, Net have been revised. Prior fiscal year tables that were revised include the amortized cost basis of loans and leases by asset classification and year of origination, nonaccrual loans and leases by year of origination, and loans and leases that are 90 days or more delinquent and accruing by year of origination. The revisions were related to the year of origination and did not impact total loan balances, total asset classification balances, total nonaccrual balances, or total past due loan balances.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES ("ASU")
 6 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES (ASU) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES ("ASU")
Significant accounting policies in effect and disclosed within the Company’s most recent audited consolidated financial statements as of September 30, 2023 remain substantially unchanged.

The following ASU became effective for the Company on October 1, 2023, and did not have a material impact on the Company’s significant accounting policies or Condensed Consolidated Financial Statements:

ASU 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The amendments in this ASU eliminate accounting guidance for troubled-debt restructurings ("TDRs") by creditors in Subtopic ASC 310-40, Receivables – Troubled Debt Restructurings by Creditors, and enhance disclosure requirements for certain loan refinancings and restructurings when a borrower is experiencing financial difficulty. The ASU also requires current-period gross charge-offs by year of origination to be disclosed for loans and leases within scope of Topic 326.
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SECURITIES
 6 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
SECURITIES SECURITIES
The amortized cost, gross unrealized gains and losses and estimated fair values of available for sale ("AFS") and held to maturity ("HTM") debt securities are presented below.
(Dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair
Value
Debt Securities AFS
At March 31, 2024
Corporate securities$25,000 $— $(6,875)$18,125 
SBA securities91,979 — (7,182)84,797 
Obligations of states and political subdivisions540 — (33)507 
Non-bank qualified obligations of states and political subdivisions258,421 14 (35,766)222,669 
Asset-backed securities228,852 420 (5,858)223,414 
Mortgage-backed securities1,448,649 12 (218,715)1,229,946 
Total debt securities AFS$2,053,441 $446 $(274,429)$1,779,458 
At September 30, 2023
Corporate securities$25,000 $— $(6,750)$18,250 
SBA securities95,549 — (10,307)85,242 
Obligations of states and political subdivisions2,368 — (79)2,289 
Non-bank qualified obligations of states and political subdivisions269,396 — (42,673)226,723 
Asset-backed securities255,384 234 (9,419)246,199 
Mortgage-backed securities1,495,636 — (270,111)1,225,525 
Total debt securities AFS$2,143,333 $234 $(339,339)$1,804,228 
Debt Securities HTM
At March 31, 2024
Non-bank qualified obligations of states and political subdivisions$32,602 $— $(3,321)$29,281 
Mortgage-backed securities2,080 — (248)1,832 
Total debt securities HTM$34,682 $— $(3,569)$31,113 
At September 30, 2023
Non-bank qualified obligations of states and political subdivisions$34,415 $— $(4,844)$29,571 
Mortgage-backed securities2,176 — (322)1,854 
Total debt securities HTM$36,591 $— $(5,166)$31,425 
Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous loss position, were as follows:
LESS THAN 12 MONTHSOVER 12 MONTHSTOTAL
(Dollars in thousands)Fair
Value		Gross Unrealized (Losses)Fair
Value		Gross Unrealized (Losses)Fair
Value		Gross Unrealized (Losses)
Debt Securities AFS
At March 31, 2024
Corporate securities$— $— $18,125 $(6,875)$18,125 $(6,875)
SBA securities22,894 (978)61,903 (6,204)84,797 (7,182)
Obligations of state and political subdivisions— — 506 (33)506 (33)
Non-bank qualified obligations of states and political subdivisions940 (20)219,665 (35,746)220,605 (35,766)
Asset-backed securities— — 103,409 (5,858)103,409 (5,858)
Mortgage-backed securities17,317 (371)1,211,570 (218,344)1,228,887 (218,715)
Total debt securities AFS$41,151 $(1,369)$1,615,178 $(273,060)$1,656,329 $(274,429)
At September 30, 2023
Corporate securities$— $— $18,250 $(6,750)$18,250 $(6,750)
SBA securities22,327 (1,919)62,915 (8,388)85,242 (10,307)
Obligations of state and political subdivisions— — 2,289 (79)2,289 (79)
Non-bank qualified obligations of states and political subdivisions5,010 (83)221,714 (42,590)226,723 (42,673)
Asset-backed securities46,528 (224)115,608 (9,195)162,136 (9,419)
Mortgage-backed securities18,311 (944)1,207,214 (269,167)1,225,525 (270,111)
Total debt securities AFS$92,176 $(3,170)$1,627,990 $(336,169)$1,720,165 $(339,339)
Debt Securities HTM
At March 31, 2024
Non-bank qualified obligations of states and political subdivisions$— $— $29,281 $(3,321)$29,281 $(3,321)
Mortgage-backed securities— — 1,832 (248)1,832 (248)
Total debt securities HTM$— $— $31,113 $(3,569)$31,113 $(3,569)
At September 30, 2023
Non-bank qualified obligations of states and political subdivisions$— $— $29,571 $(4,844)$29,571 $(4,844)
Mortgage-backed securities— — 1,854 (322)1,854 (322)
Total debt securities HTM$— $— $31,425 $(5166)$31,425 $(5,166)

The decrease in the fair value of investment securities balances when comparing March 31, 2024 to September 30, 2023 was primarily driven by principal pay downs during the six months. At March 31, 2024, there were 194 securities AFS in an unrealized loss position. All of the mortgage-backed securities ("MBS") in an unrealized loss position at March 31, 2024 were government guaranteed or issued by a private label where the Company held a senior tranche. Management assessed each investment security with unrealized losses for credit loss and determined all unrealized losses on these securities were due to adverse market conditions and/or change in interest rates versus credit loss. As part of that assessment, management evaluated and concluded that it is more-likely-than-not that the Company will not be required and does not intend to sell any of the securities prior to recovery of the amortized cost. At March 31, 2024, there was no allowance for credit losses ("ACL") for debt securities AFS or debt securities HTM.
The amortized cost and fair value of debt securities by contractual maturity are shown below. Certain securities have call features that allow the issuer to call the security prior to maturity. Expected maturities may differ from contractual maturities in MBS because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Therefore, MBS are not included in the maturity categories in the following maturity summary. The expected maturities of certain SBA securities may differ from contractual maturities because the borrowers may have the right to prepay the obligation. However, certain prepayment penalties may apply.
(Dollars in thousands)At March 31, 2024At September 30, 2023
Debt Securities AFSAmortized CostFair
Value		Amortized CostFair
Value
Due in one year or less$1,188 $1,175 $5,023 $4,971 
Due after one year through five years19,591 18,249 11,175 10,292 
Due after five years through ten years73,455 63,343 79,139 66,428 
Due after ten years510,558 466,745 552,360 497,012 
604,792 549,512 647,697 578,703 
Mortgage-backed securities1,448,649 1,229,946 1,495,636 1,225,525 
Total debt securities AFS$2,053,441 $1,779,458 $2,143,333 $1,804,228 
Debt Securities HTM
Due after ten years$32,602 $29,281 $34,415 $29,571 
32,602 29,281 34,415 29,571 
Mortgage-backed securities2,080 1,832 2,176 1,854 
Total debt securities HTM$34,682 $31,113 $36,591 $31,425 

Federal Reserve Bank ("FRB") Stock. The Bank is required by federal law to subscribe to capital stock (divided into shares of $100 each) as a member of the FRB of Minneapolis with an amount equal to six per centum of the paid-up capital stock and surplus. One-half of the subscription is paid at time of application, and one-half is subject to call of the Board of Governors of the Federal Reserve System. FRB of Minneapolis stock held by the Bank totaled $19.7 million at March 31, 2024 and September 30, 2023. These equity securities are 'restricted' in that they can only be owned by member banks.

Federal Home Loan Bank ("FHLB") Stock. The Company's borrowings from the FHLB are secured by specific investment securities. Such advances can be made pursuant to several different credit programs, each of which has its own interest rate and range of maturities.

The investments in the FHLB stock are required investments related to the Company's membership in and current borrowings from the FHLB of Des Moines. The investments in the FHLB of Des Moines could be adversely impacted by the financial operations of the FHLB and actions of their regulator, the Federal Housing Finance Agency.

The FHLB stock is carried at cost since it is generally redeemable at par value. The carrying value of the stock held at the FHLB was $6.2 million and $8.5 million at March 31, 2024 and at September 30, 2023, respectively.

These equity securities are ‘restricted’ in that they can only be sold back to the respective institution from which they were acquired or another member institution at par. Therefore, FRB and FHLB stocks are less liquid than other marketable equity securities, and the cost approximates fair value.

Equity Securities. The Company held $4.3 million and $3.4 million in marketable equity securities within other assets on the Condensed Consolidated Statements of Financial Condition at March 31, 2024 and September 30, 2023, respectively. The Company recognized no unrealized gains on marketable equity securities during the six months ended March 31, 2024 and 2023. No such securities were sold during the six months ended March 31, 2024.
Non-marketable equity securities with a readily determinable fair value totaled $10.0 million and $8.4 million at March 31, 2024 and September 30, 2023, respectively. These securities are held within other assets on the Condensed Consolidated Statements of Financial Condition. The Company recognized $0.4 million in unrealized gains and $0.1 million in unrealized losses during the six months ended March 31, 2024 and 2023, respectively. No such securities were sold during the six months ended March 31, 2024.

Non-marketable equity securities without readily determinable fair value totaled $14.8 million and $16.2 million at March 31, 2024 and September 30, 2023, respectively. There was one such security sold during the six months ended March 31, 2024 for a $2.5 million gain which is included in gain on sale of other on the Condensed Consolidated Statements of Operations.

Equity Securities Impairment. The Company evaluates impairment for investments held at cost on at least an annual basis based on the ultimate recoverability of the par value. All other equity investments, including those under the equity method, are reviewed for other-than-temporary impairment on at least a quarterly basis. The Company recognized no and $0.5 million impairment for such investments for the six months ended March 31, 2024 and 2023, respectively.
v3.24.1.u1
LOANS AND LEASES, NET
 6 Months Ended
Mar. 31, 2024
Loans and Leases Receivable Disclosure [Abstract]  
LOANS AND LEASES, NET LOANS AND LEASES, NET
Loans and leases consist of the following:
(Dollars in thousands)March 31, 2024September 30, 2023
Term lending$1,489,054 $1,308,133 
Asset-based lending429,556 382,371 
Factoring336,442 358,344 
Lease financing168,616 183,392 
Insurance premium finance522,904 800,077 
SBA/USDA560,433 524,750 
Other commercial finance149,056 166,091 
Commercial finance3,656,061 3,723,158 
Consumer finance267,031 254,416 
Tax services84,502 5,192 
Warehouse finance394,814 376,915 
Total loans and leases4,402,408 4,359,681 
Net deferred loan origination costs6,977 6,435 
Total gross loans and leases4,409,385 4,366,116 
Allowance for credit losses(80,777)(49,705)
Total loans and leases, net$4,328,608 $4,316,411 

During the six months ended March 31, 2024 and 2023, the Company originated $933.8 million and $608.6 million of commercial finance and consumer finance as held for sale, respectively.

The Company sold held for sale loans resulting in proceeds of $969.0 million and a $1.4 million gain on sale during the six months ended March 31, 2024. The Company sold held for sale loans resulting in proceeds of $604.4 million and gain on sale of $0.1 million during the six months ended March 31, 2023.
Loans purchased and sold by portfolio segment, including participation interests, were as follows:
Three Months Ended March 31,Six Months Ended March 31,
(Dollars in thousands)2024202320242023
Loans Purchased
Loans held for investment:
Warehouse finance$73,701 $120,185 $163,091 $187,834 
Total purchases$73,701 $120,185 $163,091 $187,834 
Loans Sold
Loans held for sale:
Commercial finance$21,173 $294 $25,045 $1,149 
Consumer finance321,489 201,199 943,953 603,214 
Total sales$342,662 $201,493 $968,998 $604,363 

Leasing Portfolio. The net investment in direct financing and sales-type leases was comprised of the following:
(Dollars in thousands)March 31, 2024September 30, 2023
Minimum lease payments receivable$177,498 $191,807 
Unguaranteed residual assets12,171 12,709 
Unamortized initial direct costs82 141 
Unearned income(21,053)(21,124)
Total net investment in direct financing and sales-type leases$168,698 $183,533 

The components of total lease income were as follows:
Three Months Ended March 31,Six Months Ended March 31,
(Dollars in thousands)2024202320242023
Interest income - loans and leases
Interest income on net investments in direct financing and sales-type leases$2,853 $2,819 $5,961 $5,962 
Leasing and equipment finance noninterest income
Lease income from operating lease payments13,605 12,843 26,860 25,397 
Other(1)
869 (356)1,593 346 
Total leasing and equipment finance noninterest income14,474 12,487 28,453 25,743 
Total lease income$17,327 $15,306 $34,414 $31,705 
(1) Other leasing and equipment finance noninterest income consists of gains (losses) on sales of leased equipment, fees and service charges on leases and gains (losses) on sales of leases.
Undiscounted future minimum lease payments receivable for direct financing and sales-type leases, and a reconciliation to the carrying amount recorded at March 31, 2024 were as follows:
(Dollars in thousands)
Remaining in 2024$36,927 
202553,952 
202634,868 
202721,176 
202816,575 
Thereafter14,000 
Total undiscounted future minimum lease payments receivable for direct financing and sales-type leases177,498 
Third-party residual value guarantees— 
Total carrying amount of direct financing and sales-type leases$177,498 

The Company did not record any contingent rental income from direct financing and sales-type leases in the six months ended March 31, 2024.

A number of factors affected the economic environment in 2023 including geopolitical conflict, supply chain disruptions, inflation, rising interest rates, and bank failures brought on by, among other things, rising interest rates, deposit outflows and liquidity crises. While the ultimate impact of these factors, some of which continue to impact the economic environment in 2024, on the Company's loan and lease portfolio remains difficult to predict, management continues to evaluate the loan and lease portfolio in order to assess the impact on repayment sources and underlying collateral that could result in additional losses and the impact to our customers and businesses as a result of these factors impacting the economy and will refine its estimate as developments occur and more information becomes available.
Activity in the allowance for credit losses and balances of loans and leases by portfolio segment was as follows:
Three Months Ended March 31, 2024
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$27,013 $6,303 $(5,176)$487 $28,627 
Asset-based lending1,370 (254)— 99 1,215 
Factoring7,433 (623)(12)16 6,814 
Lease financing4,008 (2,547)28 62 1,551 
Insurance premium finance2,123 (532)(295)113 1,409 
SBA/USDA3,289 (347)— — 2,942 
Other commercial finance3,312 (1,592)— — 1,720 
Commercial finance48,548 408 (5,455)777 44,278 
Consumer finance4,380 231 (37)2 4,576 
Tax services507 25,221 — 5,800 31,528 
Warehouse finance350 45 — — 395 
Total loans and leases53,785 25,905 (5,492)6,579 80,777 
Unfunded commitments(1)
596 147 — — 743 
Total $54,381 $26,052 $(5,492)$6,579 $81,520 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Condensed Consolidated Statements of Financial Condition.
Three Months Ended March 31, 2023
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$26,752 $3,974 $(2,705)$394 $28,415 
Asset-based lending3,903 51 (2,873)— 1,081 
Factoring5,674 (40)(62)16 5,588 
Lease financing5,238 (183)(607)101 4,549 
Insurance premium finance1,261 155 (224)71 1,263 
SBA/USDA2,632 2 — 6 2,640 
Other commercial finance3,356 976 — — 4,332 
Commercial finance48,816 4,935 (6,471)588 47,868 
Consumer finance2,887 232 (154)— 2,965 
Tax services609 31,422 — 1,063 33,094 
Warehouse finance280 97 — — 377 
Total loans and leases52,592 36,686 (6,625)1,651 84,304 
Unfunded commitments(1)
279 77 — — 356 
Total $52,871 $36,763 $(6,625)$1,651 $84,660 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Condensed Consolidated Statements of Financial Condition.
Six Months Ended March 31, 2024
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$25,686 $12,125 $(10,297)$1,113 $28,627 
Asset-based lending2,738 (1,764)— 241 1,215 
Factoring6,566 128 (35)155 6,814 
Lease financing3,302 (1,781)(125)155 1,551 
Insurance premium finance2,637 (771)(660)203 1,409 
SBA/USDA2,962 (20)— — 2,942 
Other commercial finance3,089 (1,369)— — 1,720 
Commercial finance46,980 6,548 (11,117)1,867 44,278 
Consumer finance2,346 2,328 (100)2 4,576 
Tax services2 26,577 (1,145)6,094 31,528 
Warehouse finance377 18 — — 395 
Total loans and leases49,705 35,471 (12,362)7,963 80,777 
Unfunded commitments(1)
272 471 — — 743 
Total $49,977 $35,942 $(12,362)$7,963 $81,520 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Condensed Consolidated Statements of Financial Condition.
Six Months Ended March 31, 2023
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$24,621 $7,645 $(4,522)$671 $28,415 
Asset-based lending1,050 2,904 (2,873)— 1,081 
Factoring6,556 (804)(183)19 5,588 
Lease financing5,902 (621)(1,013)281 4,549 
Insurance premium finance1,450 108 (409)114 1,263 
SBA/USDA3,263 (649)— 26 2,640 
Other commercial finance1,310 3,022 — — 4,332 
Commercial finance44,152 11,605 (9,000)1,111 47,868 
Consumer finance1,463 1,835 (333)— 2,965 
Tax services5 33,059 (1,731)1,761 33,094 
Warehouse finance327 50 — — 377 
Total loans and leases45,947 46,549 (11,064)2,872 84,304 
Unfunded commitments(1)
366 (10)— — 356 
Total $46,313 $46,539 $(11,064)$2,872 $84,660 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Condensed Consolidated Statements of Financial Condition.
Information on loans and leases that are deemed to be collateral dependent and are evaluated individually for the ACL was as follows:
(Dollars in thousands)At March 31, 2024At September 30, 2023
Term lending$7,100 $3,516 
Asset-based lending1,213 19,226 
Factoring5,103 1,133 
Lease financing647 630 
SBA/USDA1,748 750 
Commercial finance(1)
15,811 25,255 
Total$15,811 $25,255 
(1) For Commercial Finance, collateral dependent financial assets have collateral in the form of cash, equipment, or other business assets.

Management has identified certain structured finance credits for alternative energy projects in which a substantial cash collateral account has been established to mitigate credit risk. Due to the nature of the transactions and significant cash collateral positions, these credits are evaluated individually. The balance of these pass rated cash collateral loans totaled $119.1 million and $117.0 million at March 31, 2024 and at September 30, 2023, respectively.

Federal regulations provide for the classification of loans and other assets such as debt and equity securities considered by the Bank's primary regulator, the OCC, to be of lesser quality as “substandard,” “doubtful” or “loss.” The loan classification and risk rating definitions are as follows:

Pass - A pass asset is of sufficient quality in terms of repayment, collateral and management to preclude a special mention or an adverse rating.
 
Watch - A watch asset is generally a credit performing well under current terms and conditions but with identifiable weakness meriting additional scrutiny and corrective measures. Watch is not a regulatory classification but can be used to designate assets that are exhibiting one or more weaknesses that deserve management’s attention. These assets are of better quality than special mention assets.

Special Mention - A special mention asset is a credit with potential weaknesses deserving management’s close attention and, if left uncorrected, may result in deterioration of the repayment prospects for the asset. Special mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. Special mention is a temporary status with aggressive credit management required to garner adequate progress and move to watch or higher.
 
The adverse classifications are as follows:
 
Substandard - A substandard asset is inadequately protected by the net worth and/or repayment ability or by a weak collateral position. Assets so classified will have well-defined weaknesses creating a distinct possibility the Bank will sustain some loss if the weaknesses are not corrected. Loss potential does not have to exist for an asset to be classified as substandard.

Doubtful - A doubtful asset has weaknesses similar to those classified substandard, with the degree of weakness causing the likely loss of some principal in any reasonable collection effort. Due to pending factors, the asset’s classification as loss is not yet appropriate.

Loss - A loss asset is considered uncollectible and of such little value that the asset’s continuance on the Bank’s balance sheet is no longer warranted. This classification does not necessarily mean an asset has no recovery or salvage value leaving room for future collection efforts.
Loans and leases, or portions thereof, are generally charged off when collection of principal becomes doubtful. Typically, this is associated with a delay or shortfall in payments of 210 days or more for insurance premium finance, 120 days or more for consumer credit products and leases, and 90 days or more for commercial finance loans. Action is taken to charge off electronic return originator ("ERO") loans if such loans have not been collected by the end of June and refund advance loans if such loans have not been collected by the end of the calendar year. The Company individually evaluates loans and leases that do not share similar risk characteristics with other financial assets, which generally means loans and leases identified as modifications or loans and leases on nonaccrual status.

The Company recognizes that concentrations of credit may naturally occur and may take the form of a large volume of related loans and leases to an individual, a specific industry, or a geographic location. Credit concentration is a direct, indirect, or contingent obligation that has a common bond where the aggregate exposure equals or exceeds a certain percentage of the Company’s Tier 1 Capital plus the allowable Allowance for Credit Losses.

The Company has various portfolios of consumer finance and tax services loans that present unique risks that are statistically managed. Due to the unique risks associated with these portfolios, the Company monitors other credit quality indicators in its evaluation of the appropriateness of the ACL on these portfolios, and as such, these loans are not included in the asset classification table below. The outstanding balances of consumer finance loans and tax services loans were $267.0 million and $84.5 million at March 31, 2024, respectively, and $254.4 million and $5.2 million at September 30, 2023, respectively. The amortized cost basis of loans and leases by asset classification and year of origination was as follows:
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
At March 31, 202420242023202220212020Prior
Term lending
Pass$308,787 $492,087 $125,586 $97,696 $54,397 $48,457 $— $1,127,010 
Watch66,389 42,282 46,196 24,715 3,456 1,549 — 184,587 
Special mention920 14,887 7,222 19,254 10,145 114 — 52,542 
Substandard9,546 35,689 23,732 21,362 22,623 4,730 — 117,682 
Doubtful— 601 3,135 1,657 534 1,306 — 7,233 
Total385,642 585,546 205,871 164,684 91,155 56,156 — 1,489,054 
Current period charge-offs— 1,336 5,063 2,314 1,351 233 — 10,297 
Asset-based lending
Pass— — — — — — 229,053 229,053 
Watch— — — — — — 176,233 176,233 
Special mention— — — — — — 21,530 21,530 
Substandard— — — — — — 2,740 2,740 
Total— — — — — — 429,556 429,556 
Current period charge-offs— — — — — — — — 
Factoring
Pass— — — — — — 272,222 272,222 
Watch— — — — — — 38,237 38,237 
Special mention— — — — — — 7,459 7,459 
Substandard— — — — — — 16,970 16,970 
Doubtful— — — — — — 1,554 1,554 
Total— — — — — — 336,442 336,442 
Current period charge-offs— — — — — — 35 35 
Lease financing
Pass29,214 57,899 11,949 10,795 17,486 2,851 — 130,194 
Watch1,210 164 9,047 9,295 2,019 398 — 22,133 
Special mention— 278 — — 1,026 45 — 1,349 
Substandard52 6,013 1,165 3,506 2,291 1,612 — 14,639 
Doubtful— — — 58 — 243 — 301 
Total30,476 64,354 22,161 23,654 22,822 5,149 — 168,616 
Current period charge-offs— — — 58 67 — — 125 
Insurance premium finance
Pass380,580 141,340 56 — — — — 521,976 
Watch90 254 — — — — — 344 
Special mention30 270 — — — — — 300 
Substandard5 152 — — — — — 157 
Doubtful— 127 — — — — — 127 
Total380,705 142,143 56 — — — — 522,904 
Current period charge-offs— 487 173 — — — — 660 
SBA/USDA
Pass34,482 184,511 182,889 25,243 25,614 40,539 — 493,278 
Watch— 12,241 55 1,111 6,592 3,077 — 23,076 
Special mention— — 1,325 — 2,783 369 — 4,477 
Substandard— 10,144 11,173 1,295 5,217 11,694 — 39,523 
Doubtful— — 79 — — — — 79 
Total34,482 206,896 195,521 27,649 40,206 55,679 — 560,433 
Current period charge-offs— — — — — — — — 
Other commercial finance
Pass— 2,270 10,532 32,600 1,079 73,678 — 120,159 
Watch— 2,500 — — — — — 2,500 
Substandard— 2,681 44 23,672 — — — 26,397 
Total— 7,451 10,576 56,272 1,079 73,678 — 149,056 
Current period charge-offs— — — — — — — — 
Warehouse finance
Pass— — — — — — 394,814 394,814 
Total— — — — — — 394,814 394,814 
Current period charge-offs— — — — — — — — 
Total loans and leases
Pass753,063 878,107 331,012 166,334 98,576 165,525 896,089 3,288,706 
Watch67,689 57,441 55,298 35,121 12,067 5,024 214,470 447,110 
Special mention950 15,435 8,547 19,254 13,954 528 28,989 87,657 
Substandard9,603 54,679 36,114 49,835 30,131 18,036 19,710 218,108 
Doubtful— 728 3,214 1,715 534 1,549 1,554 9,294 
Total$831,305 $1,006,390 $434,185 $272,259 $155,262 $190,662 $1,160,812 $4,050,875 
Current period charge-offs$— $1,823 $5,236 $2,372 $1,418 $233 $35 $11,117 
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
At September 30, 202320232022202120202019Prior
Term lending
Pass$539,448 $149,190 $99,677 $73,132 $14,368 $85,812 $— $961,627 
Watch53,481 51,036 58,041 12,230 4,483 727 — 179,998 
Special mention26,539 13,853 20,463 723 2,932 75 — 64,585 
Substandard20,437 30,451 14,729 24,613 3,872 764 — 94,866 
Doubtful200 2,655 1,691 1,121 165 1,225 — 7,057 
Total640,105 247,185 194,601 111,819 25,820 88,603 — 1,308,133 
Asset-based lending
Pass— — — — — — 161,744 161,744 
Watch— — — — — — 174,243 174,243 
Special mention— — — — — — 26,382 26,382 
Substandard— — — — — — 19,501 19,501 
Doubtful— — — — — — 501 501 
Total— — — — — — 382,371 382,371 
Factoring
Pass— — — — — — 270,754 270,754 
Watch— — — — — — 70,833 70,833 
Special mention— — — — — — 8,892 8,892 
Substandard— — — — — — 7,865 7,865 
Total— — — — — — 358,344 358,344 
Lease financing
Pass57,123 15,941 15,167 27,489 4,036 1,281 — 121,037 
Watch793 10,436 12,566 4,494 1,579 55 — 29,923 
Special mention— — 847 415 195 — — 1,457 
Substandard14,890 1,983 7,082 3,660 3,062 33 — 30,710 
Doubtful— — 71 61 — 133 — 265 
Total72,806 28,360 35,733 36,119 8,872 1,502 — 183,392 
Insurance premium finance
Pass797,267 1,210 — — — — — 798,477 
Watch858 34 — — — — — 892 
Special mention250 15 — — — — — 265 
Substandard91 20 — — — — — 111 
Doubtful180 152 — — — — — 332 
Total798,646 1,431 — — — — — 800,077 
SBA/USDA
Pass158,675 148,525 26,244 36,274 8,798 18,252 — 396,768 
Watch49,010 48,833 658 51 357 2,572 — 101,481 
Special mention— — 530 — — — — 530 
Substandard252 2,356 1,718 5,418 8,509 7,718 — 25,971 
Total207,937 199,714 29,150 41,743 17,664 28,542 — 524,750 
Other commercial finance
Pass2,330 18,927 32,737 1,137 10,122 69,927 — 135,180 
Watch1,742 — — — — — — 1,742 
Substandard2,753 450 25,708 — — 258 — 29,169 
Total6,825 19,377 58,445 1,137 10,122 70,185 — 166,091 
Warehouse finance
Pass— — — — — — 376,915 376,915 
Total— — — — — — 376,915 376,915 
Total loans and leases
Pass1,554,843 333,793 173,825 138,032 37,324 175,272 809,413 3,222,502 
Watch105,884 110,339 71,265 16,775 6,419 3,354 245,076 559,112 
Special mention26,789 13,868 21,840 1,138 3,127 75 35,274 102,111 
Substandard38,423 35,260 49,237 33,691 15,443 8,773 27,366 208,193 
Doubtful380 2,807 1,762 1,182 165 1,358 501 8,155 
Total$1,726,319 $496,067 $317,929 $190,818 $62,478 $188,832 $1,117,630 $4,100,073 
Past due loans and leases were as follows:
At March 31, 2024
Accruing and Nonaccruing Loans and LeasesNonperforming Loans and Leases
(Dollars in thousands)30-59 Days Past Due60-89 Days Past Due> 89 Days Past DueTotal Past DueCurrentTotal Loans and Leases Receivable> 89 Days Past Due and AccruingNonaccrual BalanceTotal
Loans held for sale$323 $546 $843 $1,712 $24,234 $25,946 $843 $— $843 
Term lending31,580 20,883 10,397 62,860 1,426,194 1,489,054 890 18,960 19,850 
Asset-based lending— — — — 429,556 429,556 — — — 
Factoring— — — — 336,442 336,442 — 4,580 4,580 
Lease financing2,655 171 1,526 4,352 164,264 168,616 752 1,605 2,357 
Insurance premium finance2,211 592 1,037 3,840 519,064 522,904 1,037 — 1,037 
SBA/USDA36 2,340 2,636 5,012 555,421 560,433 — 2,636 2,636 
Other commercial finance— — — — 149,056 149,056 — — — 
Commercial finance36,482 23,986 15,596 76,064 3,579,997 3,656,061 2,679 27,781 30,460 
Consumer finance4,293 3,001 3,093 10,387 256,644 267,031 3,093 — 3,093 
Tax services1,123 — — 1,123 83,379 84,502 — — — 
Warehouse finance— — — — 394,814 394,814 — — — 
Total loans and leases held for investment41,898 26,987 18,689 87,574 4,314,834 4,402,408 5,772 27,781 33,553 
Total loans and leases$42,221 $27,533 $19,532 $89,286 $4,339,068 $4,428,354 $6,615 $27,781 $34,396 
At September 30, 2023
Accruing and Nonaccruing Loans and LeasesNonperforming Loans and Leases
(Dollars in thousands)30-59 Days Past Due60-89 Days Past Due> 89 Days Past DueTotal Past DueCurrentTotal Loans and Leases Receivable> 89 Days Past Due and AccruingNonaccrual BalanceTotal
Loans held for sale$626 $549 $306 $1,481 $76,298 $77,779 $306 $— $306 
Term lending13,898 7,723 11,136 32,757 1,275,376 1,308,133 3,737 15,324 19,061 
Asset-based lending— — 123 123 382,248 382,371 — 18,082 18,082 
Factoring— — — — 358,344 358,344 — 1,298 1,298 
Lease financing6,865 158 4,828 11,851 171,541 183,392 4,242 1,666 5,908 
Insurance premium finance2,159 1,262 2,339 5,760 794,317 800,077 2,339 — 2,339 
SBA/USDA512 — 1,835 2,347 522,403 524,750 833 1,002 1,835 
Other commercial finance— — 91 91 166,000 166,091 91 — 91 
Commercial finance23,434 9,143 20,352 52,929 3,670,229 3,723,158 11,242 37,372 48,614 
Consumer finance2,992 2,425 2,210 7,627 246,789 254,416 2,210 — 2,210 
Tax services— — 5,082 5,082 110 5,192 5,082 — 5,082 
Warehouse finance— — — — 376,915 376,915 — — — 
Total loans and leases held for investment26,426 11,568 27,644 65,638 4,294,043 4,359,681 18,534 37,372 55,906 
Total loans and leases$27,052 $12,117 $27,950 $67,119 $4,370,341 $4,437,460 $18,840 $37,372 $56,212 
Nonaccrual loans and leases by year of origination were as follows:
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotalNonaccrual with No ACL
At March 31, 202420242023202220212020Prior
Term lending$1,121 $2,683 $7,414 $2,222 $1,446 $4,074 $— $18,960 $— 
Factoring— — — — — — 4,580 4,580 — 
Lease financing— — 95 540 695 275 — 1,605 539 
SBA/USDA— 1,307 79 — 1,005 245 — 2,636 750 
Commercial finance1,121 3,990 7,588 2,762 3,146 4,594 4,580 27,781 1,289 
Total nonaccrual loans and leases$1,121 $3,990 $7,588 $2,762 $3,146 $4,594 $4,580 $27,781 $1,289 
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotalNonaccrual with No ACL
At September 30, 202320232022202120202019Prior
Term lending$865 $4,942 $2,933 $2,165 $3,134 $1,285 $— $15,324 $— 
Asset-based lending— — — — — — 18,082 18,082 — 
Factoring— — — — — — 1,298 1,298 — 
Lease financing— — 446 660 — 560 — 1,666 1 
SBA/USDA— 750 — — — 252 — 1,002 — 
Commercial finance865 5,692 3,379 2,825 3,134 2,097 19,380 37,372 1 
Total nonaccrual loans and leases$865 $5,692 $3,379 $2,825 $3,134 $2,097 $19,380 $37,372 $1 

Loans and leases that are 90 days or more delinquent and accruing by year of origination were as follows:
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
At March 31, 202420242023202220212020Prior
Loans held for sale$— $843 $— $— $— $— $— $843 
Term lending— 185 58 393 254 — — 890 
Lease financing354 121 — — 2 275 — 752 
Insurance premium finance198 839 — — — — — 1,037 
Commercial finance552 1,145 58 393 256 275 — 2,679 
Consumer finance309 1,969 658 157 — — — 3,093 
Total loans and leases held for investment861 3,114 716 550 256 275 — 5,772 
Total 90 days or more delinquent and accruing$861 $3,957 $716 $550 $256 $275 $— $6,615 
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
At September 30, 202320232022202120202019Prior
Loans held for sale$306 $— $— $— $— $— $— $306 
Term lending1,604 1,371 500 233 29 — — 3,737 
Lease financing151 490 979 784 1,794 44 — 4,242 
Insurance premium finance— 414 114 — 334 1,477 — 2,339 
SBA/USDA— — — 833 — — — 833 
Other commercial finance— — — — — 91 — 91 
Commercial finance1,755 2,275 1,593 1,850 2,157 1,612 — 11,242 
Consumer finance891 1,045 246 — — — 28 2,210 
Tax services5,082 — — — — — — 5,082 
Total loans and leases held for investment7,728 3,320 1,839 1,850 2,157 1,612 28 18,534 
Total 90 days or more delinquent and accruing$8,034 $3,320 $1,839 $1,850 $2,157 $1,612 $28 $18,840 

Certain loans and leases 90 days or more past due as to interest or principal continue to accrue because they are (1) well-secured and in the process of collection or (2) consumer loans exempt under regulatory rules from being classified as nonaccrual until later delinquency, usually 120 days past due.

The following table provides the average recorded investment in nonaccrual loans and leases:
Three Months Ended March 31,Six Months Ended March 31,
(Dollars in thousands)2024202320242023
Term lending$18,999 $9,758 $18,209 $9,277 
Asset-based lending82 5,292 4,896 4,782 
Factoring5,745 523 3,463 615 
Lease financing1,639 3,627 1,631 3,625 
SBA/USDA2,329 1,379 1,908 1,400 
Commercial finance28,794 20,579 30,107 19,699 
Total loans and leases$28,794 $20,579 $30,107 $19,699 

The recognized interest income on the Company's nonaccrual loans and leases for the three and six months ended March 31, 2024 and 2023 was not significant.

Effective October 1, 2023, the Company adopted ASU 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures on a prospective basis. Financial information at and for the three and six months ended March 31, 2024 is reflected as such. The historical information disclosed is in accordance with Subtopic ASC 310-40, Receivables – Troubled Debt Restructurings by Creditors.

Modifications made to borrowers experiencing financial difficulty during the three and six months ended March 31, 2024 were $1.6 million in the commercial finance loan portfolio.

No loans were modified in a TDR during the three and six months ended March 31, 2023. The Company had an immaterial amount and $0.1 million of commercial finance loans that were modified within the previous 12 months experience a payment default during the three and six months ended March 31, 2023, respectively. TDR net charge-offs and the impact of TDRs on the Company's allowance for credit losses were insignificant during the six months ended March 31, 2023.
v3.24.1.u1
EARNINGS PER COMMON SHARE ("EPS")
 6 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE ("EPS") EARNINGS PER COMMON SHARE ("EPS")
The Company has granted restricted share awards with dividend rights that are considered to be participating securities. Accordingly, a portion of the Company’s earnings is allocated to those participating securities in the earnings per share calculation under the two-class method. Basic EPS is computed using the two-class method by dividing income available to common stockholders after the allocation of dividends and undistributed earnings to the participating securities by the weighted average number of common shares outstanding for the period. Diluted EPS is calculated using the more dilutive of the two-class method or the treasury stock method. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised, and is computed after giving consideration to the weighted average dilutive effect upon vesting of restricted stock grants and after the allocation of earnings to the participating securities. Antidilutive securities are disregarded in earnings per share calculations. Diluted EPS shown below reflects the two-class method, as diluted EPS under the two-class method was more dilutive than under the treasury stock method.

A reconciliation of net income and common stock share amounts used in the computation of basic and diluted earnings per share is presented below.
Three Months Ended March 31,Six Months Ended March 31,
(Dollars in thousands, except per share data)2024202320242023
Basic income per common share:
Net income attributable to Pathward Financial, Inc.$65,268 $54,771 $92,925 $82,613 
Dividends and undistributed earnings allocated to participating securities(524)(841)(744)(1,231)
Basic net earnings available to common stockholders64,744 53,930 92,181 81,382 
Undistributed earnings allocated to nonvested restricted stockholders514 820 724 1,190 
Reallocation of undistributed earnings to nonvested restricted stockholders(514)(818)(724)(1,187)
Diluted net earnings available to common stockholders$64,744 $53,932 $92,181 $81,385 
Total weighted-average basic common shares outstanding25,281,743 27,078,048 25,529,186 27,555,197 
Effect of dilutive securities(1)
Performance share units29,401 91,521 26,470 77,540 
Total effect of dilutive securities29,401 91,521 26,470 77,540 
Total weighted-average diluted common shares outstanding25,311,144 27,169,569 25,555,656 27,632,737 
Net earnings per common share:
Basic earnings per common share$2.56 $1.99 $3.61 $2.95 
Diluted earnings per common share(2)
$2.56 $1.99 $3.61 $2.95 
(1) Represents the effect of the assumed exercise of stock options and vesting of performance share units and restricted stock, as applicable, utilizing the treasury stock method.
(2) Excluded from the computation of diluted earnings per share for the three months ended March 31, 2024 and 2023, respectively, were 204,877 and 422,461 weighted average shares of nonvested restricted stock because their inclusion would be anti-dilutive. Excluded from the computation of diluted earnings per share for the six months ended March 31, 2024 and 2023, respectively, were 206,060 and 417,012 weighted average shares of nonvested restricted stock because their inclusion would be anti-dilutive.
v3.24.1.u1
RENTAL EQUIPMENT, NET
 6 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
RENTAL EQUIPMENT, NET RENTAL EQUIPMENT, NET
Rental equipment consists of the following:
(Dollars in thousands)March 31, 2024September 30, 2023
Computers and IT networking equipment$24,435 $25,094 
Motor vehicles and other135,158 122,845 
Other furniture and equipment37,086 37,637 
Solar panels and equipment134,917 142,355 
Total331,596 327,931 
Accumulated depreciation(116,864)(117,418)
Unamortized initial direct costs1,153 1,237 
Net book value$215,885 $211,750 

Future minimum lease payments expected to be received for operating leases at March 31, 2024 were as follows:
(Dollars in thousands)
Remaining in 2024$22,318 
202539,532 
202629,630 
202721,494 
202812,248 
Thereafter11,693 
Total $136,915 
v3.24.1.u1
GOODWILL AND INTANGIBLE ASSETS
 6 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The Company held a total of $309.5 million of goodwill at March 31, 2024. The recorded goodwill is a result of multiple business combinations that occurred from 2015 to 2018. There have been no changes to the carrying amount of goodwill during the six months ended March 31, 2024.
The changes in the carrying amount of the Company’s intangible assets were as follows:
(Dollars in thousands)
Trademark(1)
Non-Compete
Customer Relationships(2)
All Others(3)
Total
At September 30, 2023$7,477 $— $9,110 $4,133 $20,720 
Amortization during the period(527)— (1,431)(266)(2,224)
At March 31, 2024$6,950 $— $7,679 $3,867 $18,496 
Gross carrying amount$13,774 $301 $77,578 $7,798 $99,451 
Accumulated amortization(6,824)(301)(58,981)(3,712)(69,818)
Accumulated impairment— — (10,918)(219)(11,137)
At March 31, 2024$6,950 $— $7,679 $3,867 $18,496 
At September 30, 2022$8,605 $— $12,395 $4,691 $25,691 
Amortization during the period(609)— (1,819)(265)(2,693)
At March 31, 2023$7,996 $— $10,576 $4,426 $22,998 
Gross carrying amount$14,624 $2,481 $82,088 $9,940 $109,133 
Accumulated amortization(6,628)(2,481)(60,594)(5,296)(74,999)
Accumulated impairment— — (10,918)(218)(11,136)
At March 31, 2023$7,996 $— $10,576 $4,426 $22,998 
(1) Book amortization period of 5-15 years. Amortized using the straight line and accelerated methods.
(2) Book amortization period of 10-30 years. Amortized using the accelerated method.
(3) Book amortization period of 3-20 years. Amortized using the straight line method.

The estimated amortization expense of intangible assets assumes no activities, such as acquisitions, which would result in additional amortizable intangible assets. Estimated amortization expense of intangible assets in the remaining six months of fiscal 2024 and subsequent fiscal years at March 31, 2024 was as follows:
(Dollars in thousands)
Remaining in 2024$1,904 
20253,563 
20263,217 
20272,571 
20282,261 
Thereafter4,980 
Total anticipated intangible amortization$18,496 

There were no impairments to intangible assets during the six months ended March 31, 2024 and 2023. Intangible impairment expense is recorded within the impairment expense line of the Condensed Consolidated Statements of Operations.
v3.24.1.u1
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES
 6 Months Ended
Mar. 31, 2024
Leases [Abstract]  
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES
Operating lease right-of-use ("ROU") assets, included in other assets, were $26.0 million and $26.9 million at March 31, 2024 and September 30, 2023, respectively.

Operating lease liabilities, included in accrued expenses and other liabilities, were $27.8 million and $28.8 million at March 31, 2024 and September 30, 2023, respectively.

Undiscounted future minimum operating lease payments and a reconciliation to the amount recorded as operating lease liabilities at March 31, 2024 were as follows:
(Dollars in thousands)
Remaining in 2024$2,132 
20253,985 
20263,435 
20273,152 
20283,095 
Thereafter15,545 
Total undiscounted future minimum lease payments 31,344 
Discount(3,526)
Total operating lease liabilities$27,818 

The weighted-average discount rate and remaining lease term for operating leases were as follows:
March 31, 2024September 30, 2023
Weighted-average discount rate2.44 %2.38 %
Weighted-average remaining lease term (years)9.119.66

The components of total lease costs for operating leases were as follows:
Three Months Ended March 31,Six Months Ended March 31,
(Dollars in thousands)2024202320242023
Lease expense$992 $982 $2,017 $1,996 
Short-term and variable lease cost30 42 23 84 
Sublease income(269)(339)(639)(672)
Total lease cost for operating leases$753 $685 $1,401 $1,408 
v3.24.1.u1
STOCKHOLDERS' EQUITY
 6 Months Ended
Mar. 31, 2024
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY
Repurchase of Common Stock. The Company's Board of Directors authorized the September 3, 2021 share repurchase program to repurchase up to 6,000,000 shares of the Company's outstanding common stock. This authorization is effective from September 3, 2021 through September 30, 2024. On August 25, 2023, the Company's Board of Directors announced a share repurchase program to repurchase up to an additional 7,000,000 shares of the Company's outstanding common stock on or before September 30, 2028. During the six months ended March 31, 2024 and 2023, the Company repurchased 996,773 and 1,826,694 shares, respectively, as part of the share repurchase programs.

Under the repurchase programs, repurchased shares were retired and designated as authorized but unissued shares. The Company accounts for repurchased shares using the par value method under which the repurchase price is charged to paid-in capital up to the amount of the original proceeds of those shares. When the repurchase price is greater than the original issue proceeds, the excess is charged to retained earnings. As of March 31, 2024, 7,669,663 shares of common stock remained available for repurchase.
For the six months ended March 31, 2024 and 2023, the Company also repurchased 122,452 and 59,626 shares, or $5.8 million and $2.1 million, of common stock, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock.

Retirement of Treasury Stock. The Company accounts for the retirement of repurchased shares, including treasury stock, using the par value method under which the repurchase price is charged to paid-in capital up to the amount of the original proceeds of those shares. When the repurchase price is greater than the original issue proceeds, the excess is charged to retained earnings. The Company retired no shares of common stock held in treasury during the six months ended March 31, 2024 and 2023.
v3.24.1.u1
STOCK COMPENSATION
 6 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
STOCK COMPENSATION STOCK COMPENSATION
On February 27, 2024, the shareholders of the Company voted to approve the Pathward Financial, Inc. 2023 Omnibus Incentive Plan (the "Plan"). The Plan permits the granting of various types of awards including but not limited to nonvested (restricted) shares and performance share units ("PSUs") to certain officers and directors of the Company. Awards may be granted by the Compensation Committee of the Board of Directors based on the performance of the award recipients or other relevant factors.

Shares have previously been granted each year to executives and senior leadership members under the applicable Company incentive plan. These shares vest at various times ranging from immediately to three years based on circumstances at time of grant. The fair value is determined based on the fair market value of the Company’s stock on the grant date. Director shares are issued to the Company’s directors, and these shares have historically vested from immediate to up to one year from the grant date.

The Company also grants selected executives PSU awards. The vesting of these awards is contingent on meeting company-wide performance goals, including earnings per share. PSUs are generally granted at the market value of the underlying share on the date of grant, adjusted for dividends, as performance share units do not participate in dividends. The awards contingently vest over a period of three years and have payout levels ranging from a threshold of 50% to a maximum of 200%. Upon vesting, each performance share unit earned is converted into one share of common stock.

The fair value of the PSUs is determined by the dividend-adjusted fair value on the grant date for those awards subject to a performance condition. For those PSUs subject to a market condition, a simulation valuation is performed.

In addition, during the first and second quarters of fiscal year 2017, shares were granted to certain executive officers of the Company in connection with their signing of employment agreements with the Company. These stock awards vest in equal installments over eight years.
The following tables show the activity of share awards (including shares of restricted stock subject to vesting, fully-vested restricted stock, and PSUs) granted, exercised or forfeited under all of the Company's incentive plans during the six months ended March 31, 2024.
Number of SharesWeighted Average Fair Value at Grant
Nonvested shares outstanding, September 30, 2023370,151 $35.87 
Granted177,317 49.53 
Vested(277,447)39.33 
Forfeited or expired(6,428)41.84 
Nonvested shares outstanding, March 31, 2024263,593 $41.27 
Number of Units(1)
Weighted Average Fair Value at Grant
Performance share units outstanding, September 30, 2023155,804 $41.20 
Granted52,125 50.15 
Vested(60,984)55.47 
Forfeited or expired— — 
Performance share units outstanding, March 31, 2024146,945 $47.35 
(1) The activity in this table includes 60,984 shares related to the fiscal year 2021 performance share units, which are included in this table under the assumption of a target performance achievement. The final performance was assessed after September 30, 2023, resulted in an achievement greater than target, and an additional 47,252 shares were allocated to the participants in the plan.

Compensation expense for share-based awards is recorded over the vesting period at the fair value of the award at the time of the grant. The exercise price of fair value of nonvested (restricted) shares and PSUs granted under the Company’s incentive plans is equal to the fair market value of the underlying stock at the grant date, adjusted for dividends where applicable. The Company has elected to record forfeitures as they occur.

At March 31, 2024, stock-based compensation expense not yet recognized in income totaled $10.5 million, which is expected to be recognized over a weighted average remaining period of 1.61 years.
v3.24.1.u1
INCOME TAXES
 6 Months Ended
Mar. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company recorded an income tax expense of $21.0 million for the six months ended March 31, 2024, resulting in an effective tax rate of 18.33%, compared to an income tax expense of $15.8 million, or an effective tax rate of 15.83%, for the six months ended March 31, 2023. The Company’s effective tax rate was lower than the U.S. statutory rate of 21% primarily because of the effect of investment tax credits during fiscal year 2024. The Company's effective tax rate in the future will depend in part on actual investment tax credits generated from qualified renewable energy property.

The table below compares the income tax expense components for the periods presented.
Six Months Ended March 31,
(Dollars in thousands)20242023
Provision at statutory rate$23,917 $20,657 
Tax-exempt income(341)(398)
State income taxes4,550 4,285 
Interim period effective rate adjustment4,581 (483)
Tax credit investments, net - federal(11,363)(7,916)
Research tax credit— (805)
IRC 162(m) nondeductible compensation340 576 
Other, net(719)(163)
Income tax expense$20,965 $15,753 
Effective tax rate18.33 %15.83 %
v3.24.1.u1
REVENUE FROM CONTRACTS WITH CUSTOMERS
 6 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACTS WITH CUSTOMERS
The table below presents the Company’s revenue by operating segment. For additional descriptions of the Company’s operating segments, including additional financial information and the underlying management accounting process, see Note 13. Segment Reporting to the Condensed Consolidated Financial Statements.
(Dollars in thousands)ConsumerCommercialCorporate Services/OtherConsolidated Company
Three Months Ended March 31,20242023202420232024202320242023
Net interest income(1)
$56,527 $41,418 $44,913 $46,758 $16,861 $13,229 $118,301 $101,405 
Noninterest income:
Refund transfer product fees28,942 30,205 — — — — 28,942 30,205 
Refund advance fee income(1)
43,200 37,995 — — — — 43,200 37,995 
Card and deposit fees35,097 41,828 241 252 6 7 35,344 42,087 
Rental income(1)
— — 13,594 12,737 126 203 13,720 12,940 
Gain (loss) on sale of other(1)
16 — 1,607 (748)72 82 1,695 (666)
Other income(1)
2,432 1,748 2,307 1,935 1,305 794 6,044 4,477 
Total noninterest income109,687 111,776 17,749 14,176 1,509 1,086 128,945 127,038 
Revenue$166,214 $153,194 $62,662 $60,934 $18,370 $14,315 $247,246 $228,443 
Six Months Ended March 31,
Net interest income(1)
$115,883 $75,690 $90,794 $89,082 $21,660 $20,690 $228,337 $185,462 
Noninterest income:
Refund transfer product fees29,364 30,882 — — — — 29,364 30,882 
Refund advance fee income(1)
43,311 38,612 — — — — 43,311 38,612 
Card and deposit fees65,604 79,280 477 513 13 12 66,094 79,805 
Rental income(1)
— — 26,829 25,252 350 396 27,179 25,648 
Gain on sale of trademarks— — — — — 10,000 — 10,000 
Gain (loss) on sale of other(1)
(15)— 1,969 (246)2,581 82 4,535 (164)
Other income(1)
4,210 2,541 4,473 3,019 2,540 2,472 11,223 8,032 
Total noninterest income142,474 151,315 33,748 28,538 5,484 12,962 181,706 192,815 
Revenue$258,357 $227,005 $124,542 $117,620 $27,144 $33,652 $410,043 $378,277 
(1) These revenues are not within the scope of Topic 606. Additional details are included in other footnotes to the accompanying financial statements. The scope of Topic 606 explicitly excludes net interest income as well as many other revenues for financial assets and liabilities, including loans, leases, and securities.

Following is a discussion of key revenues within the scope of Topic 606. The Company provides services to customers that have related performance obligations that must be completed to recognize revenue. Revenues are generally recognized immediately upon the completion of the service or over time as services are performed. Any services performed over time generally require that the Company renders services each period; therefore, the Company measures progress in completing these services based upon the passage of time. Revenue from contracts with customers did not generate significant contract assets and liabilities for the six months ended March 31, 2024.

Refund Transfer Product Fees. Refund transfer fees are specific to the Banking as a Service ("BaaS") business line and reflect product fees offered by the Company through third-party tax preparers and tax preparation software providers where the Company acts as the partnering financial institution. A refund transfer allows a taxpayer to pay tax preparation and filing fees directly from their federal or state government tax refund, with the remainder of the refund being disbursed in accordance with the terms and conditions of the taxpayer agreement, which may include satisfaction of other disbursement obligations before going directly to the taxpayer via check, direct deposit, or prepaid card. Refund transfer fees are recognized by the Company immediately after the taxpayer's refund has been disbursed in accordance with the contract and are based on standalone pricing included within the terms and conditions. Certain expenses to tax preparation software providers are netted with refund transfer fee income as the Company is considered the agent in these contractual relationships. All refund transfer fees are recorded within the Consumer reporting segment.
Card and Deposit Fees. Card fees relate to the BaaS business line and consists of income from prepaid cards and merchant services, including interchange fees from prepaid cards processed through card association networks, merchant services and other card related services. Interchange rates are generally set by card association networks based on transaction volume and other factors. Since interchange fees are generated by cardholder activity, the Company recognizes the income as transactions occur. Fee income for merchant services and other card related services reflect account management and transaction fees charged to merchants for processing card association network transactions. The associated income is recognized as transactions occur or as services are performed. For the Company's internally managed prepaid card programs, fees are based on standalone pricing within the terms and conditions of the cardholder agreement. The Company is considered the principal of these relationships resulting in all fee income being presented on a gross basis within the Condensed Consolidated Statement of Operations. For the Company's sponsorship prepaid card programs where a third-party is considered the Program Manager, the fees are based on standalone pricing within the terms and conditions of the Program Agreement. For these relationships, the Company is considered the agent and certain expenses with the Program Manager, networks and associations are netted with card fee revenue. All card fee income is included in the Consumer reporting segment.

Deposit fees relate to the BaaS and Commercial Finance business lines and consist of income from banking and deposit-related services, including account services, overdraft protection, and wire transfers. Fee income for account services is recognized over the course of the month as the performance obligation is satisfied. Fee income for overdraft protection and wire transfers is recognized at the point in time when such event occurs. For BaaS, the fees for account services and overdraft protection are based on standalone pricing within the terms and conditions of the Program Agreement with the sponsorship partner. For these relationships, the Company is considered the agent and certain expenses with the partner are netted with deposit fee revenue. For Commercial Finance, fees for wire transfers are based on standalone pricing within the terms and conditions of the customer deposit agreement. Bank and deposit fees for the BaaS and Commercial Finance business lines are included in the Consumer and Commercial reporting segments, respectively. Also included within Card and Deposit Fees for the Consumer reporting segment are servicing fees the Company recognizes for custodial off-balance sheet deposits. This fee income is for services the Bank performs to maintain records of cardholder funds placed at one or more third-party banks insured by the Federal Deposit Insurance Corporation ("FDIC"). The servicing fee is typically reflective of the effective federal funds rate ("EFFR").
v3.24.1.u1
SEGMENT REPORTING
 6 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
An operating segment is generally defined as a component of a business for which discrete financial information is available and whose results are reviewed by the chief operating decision-maker. Operating segments are aggregated into reportable segments if certain criteria are met.

The Company reports its results of operations through the following three business segments: Consumer, Commercial, and Corporate Services/Other. The BaaS business line is reported in the Consumer segment. The Commercial Finance business line is reported in the Commercial segment. The Corporate Services/Other segment includes certain shared services as well as treasury related functions such as the investment portfolio, warehouse finance, wholesale deposits, and borrowings.
The following table presents segment data for the Company:
(Dollars in thousands)ConsumerCommercialCorporate Services/OtherTotal
Three Months Ended March 31,20242023202420232024202320242023
Net interest income$56,527 $41,418 $44,913 $46,758 $16,861 $13,229 $118,301 $101,405 
Provision for credit loss25,452 31,654 555 5,012 45 97 26,052 36,763 
Noninterest income109,687 111,776 17,749 14,176 1,509 1,086 128,945 127,038 
Noninterest expense59,452 49,910 38,130 38,846 42,849 38,380 140,431 127,136 
Income (loss) before income tax expense81,310 71,630 23,977 17,076 (24,524)(24,162)80,763 64,544 
Total assets493,718 361,528 4,124,909 3,581,677 2,818,490 2,925,051 7,437,117 6,868,256 
Total goodwill87,145 87,145 222,360 222,360 — — 309,505 309,505 
Total deposits6,063,339 5,744,278 7,143 9,313 297,862 149,105 6,368,344 5,902,696 
Six Months Ended March 31,
Net interest income$115,883 $75,690 $90,794 $89,082 $21,660 $20,690 $228,337 $185,462 
Provision for credit loss28,906 34,894 7,018 11,595 18 50 35,942 46,539 
Noninterest income142,474 151,315 33,748 28,538 5,484 12,962 181,706 192,815 
Noninterest expense109,465 84,404 72,986 71,595 77,254 76,196 259,705 232,195 
Income (loss) before income tax expense119,986 107,707 44,538 34,430 (50,128)(42,594)114,396 99,543 
Total assets493,718 361,528 4,124,909 3,581,677 2,818,490 2,925,051 7,437,117 6,868,256 
Total goodwill87,145 87,145 222,360 222,360 — — 309,505 309,505 
Total deposits6,063,339 5,744,278 7,143 9,313 297,862 149,105 6,368,344 5,902,696 
v3.24.1.u1
FAIR VALUE OF FINANCIAL INSTRUMENTS
 6 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS FAIR VALUES OF FINANCIAL INSTRUMENTS
ASC 820, Fair Value Measurements defines fair value, establishes a framework for measuring the fair value of assets and liabilities using a hierarchy system and requires disclosures about fair value measurement. It clarifies that fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the market in which the reporting entity transacts.

The fair value hierarchy is as follows:

Level 1 Inputs - Valuation is based upon quoted prices for identical instruments traded in active markets that the Company has the ability to access at measurement date.

Level 2 Inputs - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which significant assumptions are observable in the market.

Level 3 Inputs - Valuation is generated from model-based techniques that use significant assumptions not observable in the market and are used only to the extent that observable inputs are not available. These unobservable assumptions reflect the Company’s own estimates of assumptions that market participants would use in pricing the asset or liability.

Debt Securities Available for Sale and Held to Maturity. Debt securities available for sale are recorded at fair value on a recurring basis and debt securities held to maturity are carried at amortized cost.

The fair value of debt securities available for sale, categorized primarily as Level 2, is recorded using prices obtained from independent asset pricing services that are based on observable transactions, but not quoted markets. Management reviews the prices obtained from independent asset pricing services for unusual fluctuations and compares to current market trading activity.
Equity Securities. Marketable equity securities and certain non-marketable equity securities are recorded at fair value on a recurring basis. The fair values of marketable equity securities are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs).

The following tables summarize the fair values of debt securities available for sale and equity securities as they are measured at fair value on a recurring basis.
 At March 31, 2024
(Dollars in thousands)TotalLevel 1Level 2Level 3
Debt securities AFS    
Corporate securities$18,125 $— $18,125 $— 
SBA securities84,797 — 84,797 — 
Obligations of states and political subdivisions507 — 507 — 
Non-bank qualified obligations of states and political subdivisions222,669 — 222,669 — 
Asset-backed securities223,414 — 223,414 — 
Mortgage-backed securities1,229,946 — 1,229,946 — 
Total debt securities AFS$1,779,458 $— $1,779,458 $— 
Common equities and mutual funds(1)
$4,334 $4,334 $— $— 
Non-marketable equity securities(2)
$10,000 $— $— $— 
(1) Equity securities at fair value are included within other assets on the Condensed Consolidated Statements of Financial Condition at March 31, 2024.
(2) Consists of certain non-marketable equity securities that are measured at fair value using net asset value ("NAV") per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.
 At September 30, 2023
(Dollars in thousands)TotalLevel 1Level 2Level 3
Debt securities AFS    
Corporate securities$18,250 $— $18,250 $— 
SBA securities85,242 — 85,242 — 
Obligations of states and political subdivisions2,289 — 2,289 — 
Non-bank qualified obligations of states and political subdivisions226,723 — 226,723 — 
Asset-backed securities246,199 — 246,199 — 
Mortgage-backed securities1,225,525 — 1,225,525 — 
Total debt securities AFS$1,804,228 $— $1,804,228 $— 
Common equities and mutual funds(1)
$3,378 $3,378 $— $— 
Non-marketable equity securities(2)
$8,389 $— $— $— 
(1) Equity securities at fair value are included within other assets on the Consolidated Statements of Financial Condition at September 30, 2023.
(2) Consists of certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.

Loans and Leases. The Company does not record loans and leases at fair value on a recurring basis. However, if a loan or lease is individually evaluated for risk of credit loss and repayment is expected to be solely provided by the values of the underlying collateral, the Company measures fair value on a nonrecurring basis. Fair value is determined by the fair value of the underlying collateral less estimated costs to sell. The fair value of the collateral is determined based on the internal estimates and/or assessment provided by third-party appraisers and the valuation relies on discount rates ranging from 3% to 44%.
The following tables summarize the assets of the Company that are measured at fair value in the Condensed Consolidated Statements of Financial Condition on a nonrecurring basis:
 At March 31, 2024
(Dollars in thousands)TotalLevel 1Level 2Level 3
Loans and leases, net individually evaluated for credit loss    
Commercial finance$9,234 $— $— $9,234 
    Total loans and leases, net individually evaluated for credit loss9,234 — — 9,234 
Total$9,234 $— $— $9,234 
 At September 30, 2023
(Dollars in thousands)TotalLevel 1Level 2Level 3
Loans and leases, net individually evaluated for credit loss    
Commercial finance$21,829 $— $— $21,829 
    Total loans and leases, net individually evaluated for credit loss21,829 — — 21,829 
Total$21,829 $— $— $21,829 
 Quantitative Information About Level 3 Fair Value Measurements
(Dollars in thousands)
Fair Value at
March 31, 2024
Fair Value at
September 30, 2023
Valuation
Technique		Unobservable InputRange of Inputs
Loans and leases, net individually evaluated for credit loss$9,234 $21,829 Market approach
Appraised values(1)
3% - 44%
(1) The Company generally relies on external appraisers to develop this information. Management reduced the appraised value by estimating selling costs and other inputs in a range of 3% to 44%.

Management discloses the estimated fair value of financial instruments, including assets and liabilities on and off the Condensed Consolidated Statements of Financial Condition, for which it is practicable to estimate fair value. These fair value estimates were made at March 31, 2024 and September 30, 2023 based on relevant market information and information about financial instruments. Fair value estimates are intended to represent the price at which an asset could be sold or a liability could be settled. However, since there is no active market for certain financial instruments of the Company, the estimates of fair value are subjective in nature, involve uncertainties, and include matters of significant judgment. Changes in assumptions as well as tax considerations could significantly affect the estimated values. Accordingly, the aggregate fair value estimates are not intended to represent the underlying value of the Company, on either a going concern or a liquidation basis.
The following tables present the carrying amount and estimated fair value of the financial instruments held by the Company:
 At March 31, 2024
(Dollars in thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets
Cash and cash equivalents$347,888 $347,888 $347,888 $— $— 
Debt securities available for sale1,779,458 1,779,458 — 1,779,458 — 
Debt securities held to maturity34,682 31,113 — 31,113 — 
Common equities and mutual funds(1)
4,334 4,334 4,334 — — 
Non-marketable equity securities(1)(2)
20,522 20,522 — 10,522 — 
Loans held for sale25,946 25,946 — 25,946 — 
Loans and leases4,402,408 4,339,150 — — 4,339,150 
Federal Reserve Bank and Federal Home Loan Bank stocks25,844 25,844 — 25,844 — 
Accrued interest receivable30,294 30,294 30,294 — — 
Financial liabilities
Deposits6,368,344 6,368,058 6,267,603 100,455 — 
Overnight federal funds purchased31,000 31,000 31,000 — — 
Other short- and long-term borrowings33,373 31,297 — 31,297 — 
Accrued interest payable1,961 1,961 1,961 — — 
(1) Equity securities at fair value are included within other assets on the Condensed Consolidated Statements of Financial Condition at March 31, 2024.
(2) Includes certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.
 At September 30, 2023
(Dollars in thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets
Cash and cash equivalents$375,580 $375,580 $375,580 $— $— 
Debt securities available for sale1,804,228 1,804,228 — 1,804,228 — 
Debt securities held to maturity36,591 31,425 — 31,425 — 
Common equities and mutual funds(1)
3,378 3,378 3,378 — — 
Non-marketable equity securities(1)(2)
20,453 20,453 — 12,064 — 
Loans held for sale77,779 77,779 — 77,779 — 
Loans and leases4,359,681 4,223,010 — — 4,223,010 
Federal Reserve Bank and Federal Home Loan Bank stocks28,210 28,210 — 28,210 — 
Accrued interest receivable23,282 23,282 23,282 — — 
Financial liabilities
Deposits6,589,182 6,589,065 6,583,648 5,417 — 
Overnight federal funds purchased13,000 13,000 13,000 — — 
Other short- and long-term borrowings33,873 31,187 — 31,187 — 
Accrued interest payable247 247 247 — — 
(1) Equity securities at fair value are included within other assets on the Consolidated Statements of Financial Condition at September 30, 2023.
(2) Includes certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.
v3.24.1.u1
SUBSEQUENT EVENTS
 6 Months Ended
Mar. 31, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Management has evaluated subsequent events that occurred after March 31, 2024. During this period, up to the filing date of this Quarterly Report on Form 10-Q, management did not identify any material subsequent events that would require recognition or disclosure in our Condensed Consolidated Financial Statements as of or for the quarter ended March 31, 2024.
v3.24.1.u1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Pay vs Performance Disclosure        
Net income attributable to Pathward Financial, Inc. $ 65,268 $ 54,771 $ 92,925 $ 82,613
v3.24.1.u1
Insider Trading Arrangements - Director and Officer Trading Arrangement [Member]
 3 Months Ended
Mar. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.1.u1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES ("ASU") (Policies)
 6 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
Adopted ASUs
Significant accounting policies in effect and disclosed within the Company’s most recent audited consolidated financial statements as of September 30, 2023 remain substantially unchanged.

The following ASU became effective for the Company on October 1, 2023, and did not have a material impact on the Company’s significant accounting policies or Condensed Consolidated Financial Statements:

ASU 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The amendments in this ASU eliminate accounting guidance for troubled-debt restructurings ("TDRs") by creditors in Subtopic ASC 310-40, Receivables – Troubled Debt Restructurings by Creditors, and enhance disclosure requirements for certain loan refinancings and restructurings when a borrower is experiencing financial difficulty. The ASU also requires current-period gross charge-offs by year of origination to be disclosed for loans and leases within scope of Topic 326.
v3.24.1.u1
SECURITIES (Tables)
 6 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Securities Available for Sale
The amortized cost, gross unrealized gains and losses and estimated fair values of available for sale ("AFS") and held to maturity ("HTM") debt securities are presented below.
(Dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair
Value
Debt Securities AFS
At March 31, 2024
Corporate securities$25,000 $— $(6,875)$18,125 
SBA securities91,979 — (7,182)84,797 
Obligations of states and political subdivisions540 — (33)507 
Non-bank qualified obligations of states and political subdivisions258,421 14 (35,766)222,669 
Asset-backed securities228,852 420 (5,858)223,414 
Mortgage-backed securities1,448,649 12 (218,715)1,229,946 
Total debt securities AFS$2,053,441 $446 $(274,429)$1,779,458 
At September 30, 2023
Corporate securities$25,000 $— $(6,750)$18,250 
SBA securities95,549 — (10,307)85,242 
Obligations of states and political subdivisions2,368 — (79)2,289 
Non-bank qualified obligations of states and political subdivisions269,396 — (42,673)226,723 
Asset-backed securities255,384 234 (9,419)246,199 
Mortgage-backed securities1,495,636 — (270,111)1,225,525 
Total debt securities AFS$2,143,333 $234 $(339,339)$1,804,228 
Debt Securities HTM
At March 31, 2024
Non-bank qualified obligations of states and political subdivisions$32,602 $— $(3,321)$29,281 
Mortgage-backed securities2,080 — (248)1,832 
Total debt securities HTM$34,682 $— $(3,569)$31,113 
At September 30, 2023
Non-bank qualified obligations of states and political subdivisions$34,415 $— $(4,844)$29,571 
Mortgage-backed securities2,176 — (322)1,854 
Total debt securities HTM$36,591 $— $(5,166)$31,425 
Securities Held to Maturity
Schedule of Unrealized Loss on Investments, AFS
Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous loss position, were as follows:
LESS THAN 12 MONTHSOVER 12 MONTHSTOTAL
(Dollars in thousands)Fair
Value		Gross Unrealized (Losses)Fair
Value		Gross Unrealized (Losses)Fair
Value		Gross Unrealized (Losses)
Debt Securities AFS
At March 31, 2024
Corporate securities$— $— $18,125 $(6,875)$18,125 $(6,875)
SBA securities22,894 (978)61,903 (6,204)84,797 (7,182)
Obligations of state and political subdivisions— — 506 (33)506 (33)
Non-bank qualified obligations of states and political subdivisions940 (20)219,665 (35,746)220,605 (35,766)
Asset-backed securities— — 103,409 (5,858)103,409 (5,858)
Mortgage-backed securities17,317 (371)1,211,570 (218,344)1,228,887 (218,715)
Total debt securities AFS$41,151 $(1,369)$1,615,178 $(273,060)$1,656,329 $(274,429)
At September 30, 2023
Corporate securities$— $— $18,250 $(6,750)$18,250 $(6,750)
SBA securities22,327 (1,919)62,915 (8,388)85,242 (10,307)
Obligations of state and political subdivisions— — 2,289 (79)2,289 (79)
Non-bank qualified obligations of states and political subdivisions5,010 (83)221,714 (42,590)226,723 (42,673)
Asset-backed securities46,528 (224)115,608 (9,195)162,136 (9,419)
Mortgage-backed securities18,311 (944)1,207,214 (269,167)1,225,525 (270,111)
Total debt securities AFS$92,176 $(3,170)$1,627,990 $(336,169)$1,720,165 $(339,339)
Debt Securities HTM
At March 31, 2024
Non-bank qualified obligations of states and political subdivisions$— $— $29,281 $(3,321)$29,281 $(3,321)
Mortgage-backed securities— — 1,832 (248)1,832 (248)
Total debt securities HTM$— $— $31,113 $(3,569)$31,113 $(3,569)
At September 30, 2023
Non-bank qualified obligations of states and political subdivisions$— $— $29,571 $(4,844)$29,571 $(4,844)
Mortgage-backed securities— — 1,854 (322)1,854 (322)
Total debt securities HTM$— $— $31,425 $(5166)$31,425 $(5,166)
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity
The amortized cost and fair value of debt securities by contractual maturity are shown below. Certain securities have call features that allow the issuer to call the security prior to maturity. Expected maturities may differ from contractual maturities in MBS because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Therefore, MBS are not included in the maturity categories in the following maturity summary. The expected maturities of certain SBA securities may differ from contractual maturities because the borrowers may have the right to prepay the obligation. However, certain prepayment penalties may apply.
(Dollars in thousands)At March 31, 2024At September 30, 2023
Debt Securities AFSAmortized CostFair
Value		Amortized CostFair
Value
Due in one year or less$1,188 $1,175 $5,023 $4,971 
Due after one year through five years19,591 18,249 11,175 10,292 
Due after five years through ten years73,455 63,343 79,139 66,428 
Due after ten years510,558 466,745 552,360 497,012 
604,792 549,512 647,697 578,703 
Mortgage-backed securities1,448,649 1,229,946 1,495,636 1,225,525 
Total debt securities AFS$2,053,441 $1,779,458 $2,143,333 $1,804,228 
Debt Securities HTM
Due after ten years$32,602 $29,281 $34,415 $29,571 
32,602 29,281 34,415 29,571 
Mortgage-backed securities2,080 1,832 2,176 1,854 
Total debt securities HTM$34,682 $31,113 $36,591 $31,425 
v3.24.1.u1
LOANS AND LEASES, NET (Tables)
 6 Months Ended
Mar. 31, 2024
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of Loans Receivable
Loans and leases consist of the following:
(Dollars in thousands)March 31, 2024September 30, 2023
Term lending$1,489,054 $1,308,133 
Asset-based lending429,556 382,371 
Factoring336,442 358,344 
Lease financing168,616 183,392 
Insurance premium finance522,904 800,077 
SBA/USDA560,433 524,750 
Other commercial finance149,056 166,091 
Commercial finance3,656,061 3,723,158 
Consumer finance267,031 254,416 
Tax services84,502 5,192 
Warehouse finance394,814 376,915 
Total loans and leases4,402,408 4,359,681 
Net deferred loan origination costs6,977 6,435 
Total gross loans and leases4,409,385 4,366,116 
Allowance for credit losses(80,777)(49,705)
Total loans and leases, net$4,328,608 $4,316,411 
Schedule of Loans Purchased and Sold by Portfolio Segment
Loans purchased and sold by portfolio segment, including participation interests, were as follows:
Three Months Ended March 31,Six Months Ended March 31,
(Dollars in thousands)2024202320242023
Loans Purchased
Loans held for investment:
Warehouse finance$73,701 $120,185 $163,091 $187,834 
Total purchases$73,701 $120,185 $163,091 $187,834 
Loans Sold
Loans held for sale:
Commercial finance$21,173 $294 $25,045 $1,149 
Consumer finance321,489 201,199 943,953 603,214 
Total sales$342,662 $201,493 $968,998 $604,363 
Sales-type Lease, Lease Income The net investment in direct financing and sales-type leases was comprised of the following:
(Dollars in thousands)March 31, 2024September 30, 2023
Minimum lease payments receivable$177,498 $191,807 
Unguaranteed residual assets12,171 12,709 
Unamortized initial direct costs82 141 
Unearned income(21,053)(21,124)
Total net investment in direct financing and sales-type leases$168,698 $183,533 
Operating Lease, Lease Income
The components of total lease income were as follows:
Three Months Ended March 31,Six Months Ended March 31,
(Dollars in thousands)2024202320242023
Interest income - loans and leases
Interest income on net investments in direct financing and sales-type leases$2,853 $2,819 $5,961 $5,962 
Leasing and equipment finance noninterest income
Lease income from operating lease payments13,605 12,843 26,860 25,397 
Other(1)
869 (356)1,593 346 
Total leasing and equipment finance noninterest income14,474 12,487 28,453 25,743 
Total lease income$17,327 $15,306 $34,414 $31,705 
(1) Other leasing and equipment finance noninterest income consists of gains (losses) on sales of leased equipment, fees and service charges on leases and gains (losses) on sales of leases.
Sales-type and Direct Financing Leases, Lease Receivable, Maturity
Undiscounted future minimum lease payments receivable for direct financing and sales-type leases, and a reconciliation to the carrying amount recorded at March 31, 2024 were as follows:
(Dollars in thousands)
Remaining in 2024$36,927 
202553,952 
202634,868 
202721,176 
202816,575 
Thereafter14,000 
Total undiscounted future minimum lease payments receivable for direct financing and sales-type leases177,498 
Third-party residual value guarantees— 
Total carrying amount of direct financing and sales-type leases$177,498 
Annual Activity in Allowance for Loan Losses, Allowance for Loan Losses and Recorded Investment in Loans
Activity in the allowance for credit losses and balances of loans and leases by portfolio segment was as follows:
Three Months Ended March 31, 2024
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$27,013 $6,303 $(5,176)$487 $28,627 
Asset-based lending1,370 (254)— 99 1,215 
Factoring7,433 (623)(12)16 6,814 
Lease financing4,008 (2,547)28 62 1,551 
Insurance premium finance2,123 (532)(295)113 1,409 
SBA/USDA3,289 (347)— — 2,942 
Other commercial finance3,312 (1,592)— — 1,720 
Commercial finance48,548 408 (5,455)777 44,278 
Consumer finance4,380 231 (37)2 4,576 
Tax services507 25,221 — 5,800 31,528 
Warehouse finance350 45 — — 395 
Total loans and leases53,785 25,905 (5,492)6,579 80,777 
Unfunded commitments(1)
596 147 — — 743 
Total $54,381 $26,052 $(5,492)$6,579 $81,520 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Condensed Consolidated Statements of Financial Condition.
Three Months Ended March 31, 2023
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$26,752 $3,974 $(2,705)$394 $28,415 
Asset-based lending3,903 51 (2,873)— 1,081 
Factoring5,674 (40)(62)16 5,588 
Lease financing5,238 (183)(607)101 4,549 
Insurance premium finance1,261 155 (224)71 1,263 
SBA/USDA2,632 2 — 6 2,640 
Other commercial finance3,356 976 — — 4,332 
Commercial finance48,816 4,935 (6,471)588 47,868 
Consumer finance2,887 232 (154)— 2,965 
Tax services609 31,422 — 1,063 33,094 
Warehouse finance280 97 — — 377 
Total loans and leases52,592 36,686 (6,625)1,651 84,304 
Unfunded commitments(1)
279 77 — — 356 
Total $52,871 $36,763 $(6,625)$1,651 $84,660 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Condensed Consolidated Statements of Financial Condition.
Six Months Ended March 31, 2024
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$25,686 $12,125 $(10,297)$1,113 $28,627 
Asset-based lending2,738 (1,764)— 241 1,215 
Factoring6,566 128 (35)155 6,814 
Lease financing3,302 (1,781)(125)155 1,551 
Insurance premium finance2,637 (771)(660)203 1,409 
SBA/USDA2,962 (20)— — 2,942 
Other commercial finance3,089 (1,369)— — 1,720 
Commercial finance46,980 6,548 (11,117)1,867 44,278 
Consumer finance2,346 2,328 (100)2 4,576 
Tax services2 26,577 (1,145)6,094 31,528 
Warehouse finance377 18 — — 395 
Total loans and leases49,705 35,471 (12,362)7,963 80,777 
Unfunded commitments(1)
272 471 — — 743 
Total $49,977 $35,942 $(12,362)$7,963 $81,520 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Condensed Consolidated Statements of Financial Condition.
Six Months Ended March 31, 2023
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$24,621 $7,645 $(4,522)$671 $28,415 
Asset-based lending1,050 2,904 (2,873)— 1,081 
Factoring6,556 (804)(183)19 5,588 
Lease financing5,902 (621)(1,013)281 4,549 
Insurance premium finance1,450 108 (409)114 1,263 
SBA/USDA3,263 (649)— 26 2,640 
Other commercial finance1,310 3,022 — — 4,332 
Commercial finance44,152 11,605 (9,000)1,111 47,868 
Consumer finance1,463 1,835 (333)— 2,965 
Tax services5 33,059 (1,731)1,761 33,094 
Warehouse finance327 50 — — 377 
Total loans and leases45,947 46,549 (11,064)2,872 84,304 
Unfunded commitments(1)
366 (10)— — 356 
Total $46,313 $46,539 $(11,064)$2,872 $84,660 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Condensed Consolidated Statements of Financial Condition.
Impaired Loans and Leases
Information on loans and leases that are deemed to be collateral dependent and are evaluated individually for the ACL was as follows:
(Dollars in thousands)At March 31, 2024At September 30, 2023
Term lending$7,100 $3,516 
Asset-based lending1,213 19,226 
Factoring5,103 1,133 
Lease financing647 630 
SBA/USDA1,748 750 
Commercial finance(1)
15,811 25,255 
Total$15,811 $25,255 
(1) For Commercial Finance, collateral dependent financial assets have collateral in the form of cash, equipment, or other business assets.
The following table provides the average recorded investment in nonaccrual loans and leases:
Three Months Ended March 31,Six Months Ended March 31,
(Dollars in thousands)2024202320242023
Term lending$18,999 $9,758 $18,209 $9,277 
Asset-based lending82 5,292 4,896 4,782 
Factoring5,745 523 3,463 615 
Lease financing1,639 3,627 1,631 3,625 
SBA/USDA2,329 1,379 1,908 1,400 
Commercial finance28,794 20,579 30,107 19,699 
Total loans and leases$28,794 $20,579 $30,107 $19,699 
Asset Classification by Credit Quality Indicators of Loans and Leases The amortized cost basis of loans and leases by asset classification and year of origination was as follows:
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
At March 31, 202420242023202220212020Prior
Term lending
Pass$308,787 $492,087 $125,586 $97,696 $54,397 $48,457 $— $1,127,010 
Watch66,389 42,282 46,196 24,715 3,456 1,549 — 184,587 
Special mention920 14,887 7,222 19,254 10,145 114 — 52,542 
Substandard9,546 35,689 23,732 21,362 22,623 4,730 — 117,682 
Doubtful— 601 3,135 1,657 534 1,306 — 7,233 
Total385,642 585,546 205,871 164,684 91,155 56,156 — 1,489,054 
Current period charge-offs— 1,336 5,063 2,314 1,351 233 — 10,297 
Asset-based lending
Pass— — — — — — 229,053 229,053 
Watch— — — — — — 176,233 176,233 
Special mention— — — — — — 21,530 21,530 
Substandard— — — — — — 2,740 2,740 
Total— — — — — — 429,556 429,556 
Current period charge-offs— — — — — — — — 
Factoring
Pass— — — — — — 272,222 272,222 
Watch— — — — — — 38,237 38,237 
Special mention— — — — — — 7,459 7,459 
Substandard— — — — — — 16,970 16,970 
Doubtful— — — — — — 1,554 1,554 
Total— — — — — — 336,442 336,442 
Current period charge-offs— — — — — — 35 35 
Lease financing
Pass29,214 57,899 11,949 10,795 17,486 2,851 — 130,194 
Watch1,210 164 9,047 9,295 2,019 398 — 22,133 
Special mention— 278 — — 1,026 45 — 1,349 
Substandard52 6,013 1,165 3,506 2,291 1,612 — 14,639 
Doubtful— — — 58 — 243 — 301 
Total30,476 64,354 22,161 23,654 22,822 5,149 — 168,616 
Current period charge-offs— — — 58 67 — — 125 
Insurance premium finance
Pass380,580 141,340 56 — — — — 521,976 
Watch90 254 — — — — — 344 
Special mention30 270 — — — — — 300 
Substandard5 152 — — — — — 157 
Doubtful— 127 — — — — — 127 
Total380,705 142,143 56 — — — — 522,904 
Current period charge-offs— 487 173 — — — — 660 
SBA/USDA
Pass34,482 184,511 182,889 25,243 25,614 40,539 — 493,278 
Watch— 12,241 55 1,111 6,592 3,077 — 23,076 
Special mention— — 1,325 — 2,783 369 — 4,477 
Substandard— 10,144 11,173 1,295 5,217 11,694 — 39,523 
Doubtful— — 79 — — — — 79 
Total34,482 206,896 195,521 27,649 40,206 55,679 — 560,433 
Current period charge-offs— — — — — — — — 
Other commercial finance
Pass— 2,270 10,532 32,600 1,079 73,678 — 120,159 
Watch— 2,500 — — — — — 2,500 
Substandard— 2,681 44 23,672 — — — 26,397 
Total— 7,451 10,576 56,272 1,079 73,678 — 149,056 
Current period charge-offs— — — — — — — — 
Warehouse finance
Pass— — — — — — 394,814 394,814 
Total— — — — — — 394,814 394,814 
Current period charge-offs— — — — — — — — 
Total loans and leases
Pass753,063 878,107 331,012 166,334 98,576 165,525 896,089 3,288,706 
Watch67,689 57,441 55,298 35,121 12,067 5,024 214,470 447,110 
Special mention950 15,435 8,547 19,254 13,954 528 28,989 87,657 
Substandard9,603 54,679 36,114 49,835 30,131 18,036 19,710 218,108 
Doubtful— 728 3,214 1,715 534 1,549 1,554 9,294 
Total$831,305 $1,006,390 $434,185 $272,259 $155,262 $190,662 $1,160,812 $4,050,875 
Current period charge-offs$— $1,823 $5,236 $2,372 $1,418 $233 $35 $11,117 
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
At September 30, 202320232022202120202019Prior
Term lending
Pass$539,448 $149,190 $99,677 $73,132 $14,368 $85,812 $— $961,627 
Watch53,481 51,036 58,041 12,230 4,483 727 — 179,998 
Special mention26,539 13,853 20,463 723 2,932 75 — 64,585 
Substandard20,437 30,451 14,729 24,613 3,872 764 — 94,866 
Doubtful200 2,655 1,691 1,121 165 1,225 — 7,057 
Total640,105 247,185 194,601 111,819 25,820 88,603 — 1,308,133 
Asset-based lending
Pass— — — — — — 161,744 161,744 
Watch— — — — — — 174,243 174,243 
Special mention— — — — — — 26,382 26,382 
Substandard— — — — — — 19,501 19,501 
Doubtful— — — — — — 501 501 
Total— — — — — — 382,371 382,371 
Factoring
Pass— — — — — — 270,754 270,754 
Watch— — — — — — 70,833 70,833 
Special mention— — — — — — 8,892 8,892 
Substandard— — — — — — 7,865 7,865 
Total— — — — — — 358,344 358,344 
Lease financing
Pass57,123 15,941 15,167 27,489 4,036 1,281 — 121,037 
Watch793 10,436 12,566 4,494 1,579 55 — 29,923 
Special mention— — 847 415 195 — — 1,457 
Substandard14,890 1,983 7,082 3,660 3,062 33 — 30,710 
Doubtful— — 71 61 — 133 — 265 
Total72,806 28,360 35,733 36,119 8,872 1,502 — 183,392 
Insurance premium finance
Pass797,267 1,210 — — — — — 798,477 
Watch858 34 — — — — — 892 
Special mention250 15 — — — — — 265 
Substandard91 20 — — — — — 111 
Doubtful180 152 — — — — — 332 
Total798,646 1,431 — — — — — 800,077 
SBA/USDA
Pass158,675 148,525 26,244 36,274 8,798 18,252 — 396,768 
Watch49,010 48,833 658 51 357 2,572 — 101,481 
Special mention— — 530 — — — — 530 
Substandard252 2,356 1,718 5,418 8,509 7,718 — 25,971 
Total207,937 199,714 29,150 41,743 17,664 28,542 — 524,750 
Other commercial finance
Pass2,330 18,927 32,737 1,137 10,122 69,927 — 135,180 
Watch1,742 — — — — — — 1,742 
Substandard2,753 450 25,708 — — 258 — 29,169 
Total6,825 19,377 58,445 1,137 10,122 70,185 — 166,091 
Warehouse finance
Pass— — — — — — 376,915 376,915 
Total— — — — — — 376,915 376,915 
Total loans and leases
Pass1,554,843 333,793 173,825 138,032 37,324 175,272 809,413 3,222,502 
Watch105,884 110,339 71,265 16,775 6,419 3,354 245,076 559,112 
Special mention26,789 13,868 21,840 1,138 3,127 75 35,274 102,111 
Substandard38,423 35,260 49,237 33,691 15,443 8,773 27,366 208,193 
Doubtful380 2,807 1,762 1,182 165 1,358 501 8,155 
Total$1,726,319 $496,067 $317,929 $190,818 $62,478 $188,832 $1,117,630 $4,100,073 
Past Due Loans and Leases
Past due loans and leases were as follows:
At March 31, 2024
Accruing and Nonaccruing Loans and LeasesNonperforming Loans and Leases
(Dollars in thousands)30-59 Days Past Due60-89 Days Past Due> 89 Days Past DueTotal Past DueCurrentTotal Loans and Leases Receivable> 89 Days Past Due and AccruingNonaccrual BalanceTotal
Loans held for sale$323 $546 $843 $1,712 $24,234 $25,946 $843 $— $843 
Term lending31,580 20,883 10,397 62,860 1,426,194 1,489,054 890 18,960 19,850 
Asset-based lending— — — — 429,556 429,556 — — — 
Factoring— — — — 336,442 336,442 — 4,580 4,580 
Lease financing2,655 171 1,526 4,352 164,264 168,616 752 1,605 2,357 
Insurance premium finance2,211 592 1,037 3,840 519,064 522,904 1,037 — 1,037 
SBA/USDA36 2,340 2,636 5,012 555,421 560,433 — 2,636 2,636 
Other commercial finance— — — — 149,056 149,056 — — — 
Commercial finance36,482 23,986 15,596 76,064 3,579,997 3,656,061 2,679 27,781 30,460 
Consumer finance4,293 3,001 3,093 10,387 256,644 267,031 3,093 — 3,093 
Tax services1,123 — — 1,123 83,379 84,502 — — — 
Warehouse finance— — — — 394,814 394,814 — — — 
Total loans and leases held for investment41,898 26,987 18,689 87,574 4,314,834 4,402,408 5,772 27,781 33,553 
Total loans and leases$42,221 $27,533 $19,532 $89,286 $4,339,068 $4,428,354 $6,615 $27,781 $34,396 
At September 30, 2023
Accruing and Nonaccruing Loans and LeasesNonperforming Loans and Leases
(Dollars in thousands)30-59 Days Past Due60-89 Days Past Due> 89 Days Past DueTotal Past DueCurrentTotal Loans and Leases Receivable> 89 Days Past Due and AccruingNonaccrual BalanceTotal
Loans held for sale$626 $549 $306 $1,481 $76,298 $77,779 $306 $— $306 
Term lending13,898 7,723 11,136 32,757 1,275,376 1,308,133 3,737 15,324 19,061 
Asset-based lending— — 123 123 382,248 382,371 — 18,082 18,082 
Factoring— — — — 358,344 358,344 — 1,298 1,298 
Lease financing6,865 158 4,828 11,851 171,541 183,392 4,242 1,666 5,908 
Insurance premium finance2,159 1,262 2,339 5,760 794,317 800,077 2,339 — 2,339 
SBA/USDA512 — 1,835 2,347 522,403 524,750 833 1,002 1,835 
Other commercial finance— — 91 91 166,000 166,091 91 — 91 
Commercial finance23,434 9,143 20,352 52,929 3,670,229 3,723,158 11,242 37,372 48,614 
Consumer finance2,992 2,425 2,210 7,627 246,789 254,416 2,210 — 2,210 
Tax services— — 5,082 5,082 110 5,192 5,082 — 5,082 
Warehouse finance— — — — 376,915 376,915 — — — 
Total loans and leases held for investment26,426 11,568 27,644 65,638 4,294,043 4,359,681 18,534 37,372 55,906 
Total loans and leases$27,052 $12,117 $27,950 $67,119 $4,370,341 $4,437,460 $18,840 $37,372 $56,212 
Financing Receivable, Nonaccrual
Nonaccrual loans and leases by year of origination were as follows:
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotalNonaccrual with No ACL
At March 31, 202420242023202220212020Prior
Term lending$1,121 $2,683 $7,414 $2,222 $1,446 $4,074 $— $18,960 $— 
Factoring— — — — — — 4,580 4,580 — 
Lease financing— — 95 540 695 275 — 1,605 539 
SBA/USDA— 1,307 79 — 1,005 245 — 2,636 750 
Commercial finance1,121 3,990 7,588 2,762 3,146 4,594 4,580 27,781 1,289 
Total nonaccrual loans and leases$1,121 $3,990 $7,588 $2,762 $3,146 $4,594 $4,580 $27,781 $1,289 
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotalNonaccrual with No ACL
At September 30, 202320232022202120202019Prior
Term lending$865 $4,942 $2,933 $2,165 $3,134 $1,285 $— $15,324 $— 
Asset-based lending— — — — — — 18,082 18,082 — 
Factoring— — — — — — 1,298 1,298 — 
Lease financing— — 446 660 — 560 — 1,666 1 
SBA/USDA— 750 — — — 252 — 1,002 — 
Commercial finance865 5,692 3,379 2,825 3,134 2,097 19,380 37,372 1 
Total nonaccrual loans and leases$865 $5,692 $3,379 $2,825 $3,134 $2,097 $19,380 $37,372 $1 

Loans and leases that are 90 days or more delinquent and accruing by year of origination were as follows:
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
At March 31, 202420242023202220212020Prior
Loans held for sale$— $843 $— $— $— $— $— $843 
Term lending— 185 58 393 254 — — 890 
Lease financing354 121 — — 2 275 — 752 
Insurance premium finance198 839 — — — — — 1,037 
Commercial finance552 1,145 58 393 256 275 — 2,679 
Consumer finance309 1,969 658 157 — — — 3,093 
Total loans and leases held for investment861 3,114 716 550 256 275 — 5,772 
Total 90 days or more delinquent and accruing$861 $3,957 $716 $550 $256 $275 $— $6,615 
Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
At September 30, 202320232022202120202019Prior
Loans held for sale$306 $— $— $— $— $— $— $306 
Term lending1,604 1,371 500 233 29 — — 3,737 
Lease financing151 490 979 784 1,794 44 — 4,242 
Insurance premium finance— 414 114 — 334 1,477 — 2,339 
SBA/USDA— — — 833 — — — 833 
Other commercial finance— — — — — 91 — 91 
Commercial finance1,755 2,275 1,593 1,850 2,157 1,612 — 11,242 
Consumer finance891 1,045 246 — — — 28 2,210 
Tax services5,082 — — — — — — 5,082 
Total loans and leases held for investment7,728 3,320 1,839 1,850 2,157 1,612 28 18,534 
Total 90 days or more delinquent and accruing$8,034 $3,320 $1,839 $1,850 $2,157 $1,612 $28 $18,840 
v3.24.1.u1
EARNINGS PER COMMON SHARE ("EPS") (Tables)
 6 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Reconciliation of Net Income and Common Stock Share Amounts Used in Computation of Basic and Diluted EPS
A reconciliation of net income and common stock share amounts used in the computation of basic and diluted earnings per share is presented below.
Three Months Ended March 31,Six Months Ended March 31,
(Dollars in thousands, except per share data)2024202320242023
Basic income per common share:
Net income attributable to Pathward Financial, Inc.$65,268 $54,771 $92,925 $82,613 
Dividends and undistributed earnings allocated to participating securities(524)(841)(744)(1,231)
Basic net earnings available to common stockholders64,744 53,930 92,181 81,382 
Undistributed earnings allocated to nonvested restricted stockholders514 820 724 1,190 
Reallocation of undistributed earnings to nonvested restricted stockholders(514)(818)(724)(1,187)
Diluted net earnings available to common stockholders$64,744 $53,932 $92,181 $81,385 
Total weighted-average basic common shares outstanding25,281,743 27,078,048 25,529,186 27,555,197 
Effect of dilutive securities(1)
Performance share units29,401 91,521 26,470 77,540 
Total effect of dilutive securities29,401 91,521 26,470 77,540 
Total weighted-average diluted common shares outstanding25,311,144 27,169,569 25,555,656 27,632,737 
Net earnings per common share:
Basic earnings per common share$2.56 $1.99 $3.61 $2.95 
Diluted earnings per common share(2)
$2.56 $1.99 $3.61 $2.95 
(1) Represents the effect of the assumed exercise of stock options and vesting of performance share units and restricted stock, as applicable, utilizing the treasury stock method.
(2) Excluded from the computation of diluted earnings per share for the three months ended March 31, 2024 and 2023, respectively, were 204,877 and 422,461 weighted average shares of nonvested restricted stock because their inclusion would be anti-dilutive. Excluded from the computation of diluted earnings per share for the six months ended March 31, 2024 and 2023, respectively, were 206,060 and 417,012 weighted average shares of nonvested restricted stock because their inclusion would be anti-dilutive.
v3.24.1.u1
RENTAL EQUIPMENT, NET (Tables)
 6 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
Rental Equipment
Rental equipment consists of the following:
(Dollars in thousands)March 31, 2024September 30, 2023
Computers and IT networking equipment$24,435 $25,094 
Motor vehicles and other135,158 122,845 
Other furniture and equipment37,086 37,637 
Solar panels and equipment134,917 142,355 
Total331,596 327,931 
Accumulated depreciation(116,864)(117,418)
Unamortized initial direct costs1,153 1,237 
Net book value$215,885 $211,750 
Schedule of Future Minimum Rental Payments for Operating Leases
Future minimum lease payments expected to be received for operating leases at March 31, 2024 were as follows:
(Dollars in thousands)
Remaining in 2024$22,318 
202539,532 
202629,630 
202721,494 
202812,248 
Thereafter11,693 
Total $136,915 
Undiscounted future minimum operating lease payments and a reconciliation to the amount recorded as operating lease liabilities at March 31, 2024 were as follows:
(Dollars in thousands)
Remaining in 2024$2,132 
20253,985 
20263,435 
20273,152 
20283,095 
Thereafter15,545 
Total undiscounted future minimum lease payments 31,344 
Discount(3,526)
Total operating lease liabilities$27,818 
v3.24.1.u1
GOODWILL AND INTANGIBLE ASSETS (Tables)
 6 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
The changes in the carrying amount of the Company’s intangible assets were as follows:
(Dollars in thousands)
Trademark(1)
Non-Compete
Customer Relationships(2)
All Others(3)
Total
At September 30, 2023$7,477 $— $9,110 $4,133 $20,720 
Amortization during the period(527)— (1,431)(266)(2,224)
At March 31, 2024$6,950 $— $7,679 $3,867 $18,496 
Gross carrying amount$13,774 $301 $77,578 $7,798 $99,451 
Accumulated amortization(6,824)(301)(58,981)(3,712)(69,818)
Accumulated impairment— — (10,918)(219)(11,137)
At March 31, 2024$6,950 $— $7,679 $3,867 $18,496 
At September 30, 2022$8,605 $— $12,395 $4,691 $25,691 
Amortization during the period(609)— (1,819)(265)(2,693)
At March 31, 2023$7,996 $— $10,576 $4,426 $22,998 
Gross carrying amount$14,624 $2,481 $82,088 $9,940 $109,133 
Accumulated amortization(6,628)(2,481)(60,594)(5,296)(74,999)
Accumulated impairment— — (10,918)(218)(11,136)
At March 31, 2023$7,996 $— $10,576 $4,426 $22,998 
(1) Book amortization period of 5-15 years. Amortized using the straight line and accelerated methods.
(2) Book amortization period of 10-30 years. Amortized using the accelerated method.
(3) Book amortization period of 3-20 years. Amortized using the straight line method.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense Estimated amortization expense of intangible assets in the remaining six months of fiscal 2024 and subsequent fiscal years at March 31, 2024 was as follows:
(Dollars in thousands)
Remaining in 2024$1,904 
20253,563 
20263,217 
20272,571 
20282,261 
Thereafter4,980 
Total anticipated intangible amortization$18,496 
v3.24.1.u1
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES (Tables)
 6 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Schedule of Future Minimum Rental Payments for Operating Leases
Future minimum lease payments expected to be received for operating leases at March 31, 2024 were as follows:
(Dollars in thousands)
Remaining in 2024$22,318 
202539,532 
202629,630 
202721,494 
202812,248 
Thereafter11,693 
Total $136,915 
Undiscounted future minimum operating lease payments and a reconciliation to the amount recorded as operating lease liabilities at March 31, 2024 were as follows:
(Dollars in thousands)
Remaining in 2024$2,132 
20253,985 
20263,435 
20273,152 
20283,095 
Thereafter15,545 
Total undiscounted future minimum lease payments 31,344 
Discount(3,526)
Total operating lease liabilities$27,818 
Weighted-Average Discount Rate and Remaining Lease Term for Operating Leases
The weighted-average discount rate and remaining lease term for operating leases were as follows:
March 31, 2024September 30, 2023
Weighted-average discount rate2.44 %2.38 %
Weighted-average remaining lease term (years)9.119.66

The components of total lease costs for operating leases were as follows:
Three Months Ended March 31,Six Months Ended March 31,
(Dollars in thousands)2024202320242023
Lease expense$992 $982 $2,017 $1,996 
Short-term and variable lease cost30 42 23 84 
Sublease income(269)(339)(639)(672)
Total lease cost for operating leases$753 $685 $1,401 $1,408 
v3.24.1.u1
STOCK COMPENSATION (Tables)
 6 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Nonvested Share Activity
The following tables show the activity of share awards (including shares of restricted stock subject to vesting, fully-vested restricted stock, and PSUs) granted, exercised or forfeited under all of the Company's incentive plans during the six months ended March 31, 2024.
Number of SharesWeighted Average Fair Value at Grant
Nonvested shares outstanding, September 30, 2023370,151 $35.87 
Granted177,317 49.53 
Vested(277,447)39.33 
Forfeited or expired(6,428)41.84 
Nonvested shares outstanding, March 31, 2024263,593 $41.27 
Number of Units(1)
Weighted Average Fair Value at Grant
Performance share units outstanding, September 30, 2023155,804 $41.20 
Granted52,125 50.15 
Vested(60,984)55.47 
Forfeited or expired— — 
Performance share units outstanding, March 31, 2024146,945 $47.35 
(1) The activity in this table includes 60,984 shares related to the fiscal year 2021 performance share units, which are included in this table under the assumption of a target performance achievement. The final performance was assessed after September 30, 2023, resulted in an achievement greater than target, and an additional 47,252 shares were allocated to the participants in the plan.
v3.24.1.u1
INCOME TAXES (Tables)
 6 Months Ended
Mar. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation
The table below compares the income tax expense components for the periods presented.
Six Months Ended March 31,
(Dollars in thousands)20242023
Provision at statutory rate$23,917 $20,657 
Tax-exempt income(341)(398)
State income taxes4,550 4,285 
Interim period effective rate adjustment4,581 (483)
Tax credit investments, net - federal(11,363)(7,916)
Research tax credit— (805)
IRC 162(m) nondeductible compensation340 576 
Other, net(719)(163)
Income tax expense$20,965 $15,753 
Effective tax rate18.33 %15.83 %
v3.24.1.u1
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)
 6 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue by Major Customers by Reporting Segments
The table below presents the Company’s revenue by operating segment. For additional descriptions of the Company’s operating segments, including additional financial information and the underlying management accounting process, see Note 13. Segment Reporting to the Condensed Consolidated Financial Statements.
(Dollars in thousands)ConsumerCommercialCorporate Services/OtherConsolidated Company
Three Months Ended March 31,20242023202420232024202320242023
Net interest income(1)
$56,527 $41,418 $44,913 $46,758 $16,861 $13,229 $118,301 $101,405 
Noninterest income:
Refund transfer product fees28,942 30,205 — — — — 28,942 30,205 
Refund advance fee income(1)
43,200 37,995 — — — — 43,200 37,995 
Card and deposit fees35,097 41,828 241 252 6 7 35,344 42,087 
Rental income(1)
— — 13,594 12,737 126 203 13,720 12,940 
Gain (loss) on sale of other(1)
16 — 1,607 (748)72 82 1,695 (666)
Other income(1)
2,432 1,748 2,307 1,935 1,305 794 6,044 4,477 
Total noninterest income109,687 111,776 17,749 14,176 1,509 1,086 128,945 127,038 
Revenue$166,214 $153,194 $62,662 $60,934 $18,370 $14,315 $247,246 $228,443 
Six Months Ended March 31,
Net interest income(1)
$115,883 $75,690 $90,794 $89,082 $21,660 $20,690 $228,337 $185,462 
Noninterest income:
Refund transfer product fees29,364 30,882 — — — — 29,364 30,882 
Refund advance fee income(1)
43,311 38,612 — — — — 43,311 38,612 
Card and deposit fees65,604 79,280 477 513 13 12 66,094 79,805 
Rental income(1)
— — 26,829 25,252 350 396 27,179 25,648 
Gain on sale of trademarks— — — — — 10,000 — 10,000 
Gain (loss) on sale of other(1)
(15)— 1,969 (246)2,581 82 4,535 (164)
Other income(1)
4,210 2,541 4,473 3,019 2,540 2,472 11,223 8,032 
Total noninterest income142,474 151,315 33,748 28,538 5,484 12,962 181,706 192,815 
Revenue$258,357 $227,005 $124,542 $117,620 $27,144 $33,652 $410,043 $378,277 
(1) These revenues are not within the scope of Topic 606. Additional details are included in other footnotes to the accompanying financial statements. The scope of Topic 606 explicitly excludes net interest income as well as many other revenues for financial assets and liabilities, including loans, leases, and securities.
v3.24.1.u1
SEGMENT REPORTING (Tables)
 6 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segment Information of Entity
The following table presents segment data for the Company:
(Dollars in thousands)ConsumerCommercialCorporate Services/OtherTotal
Three Months Ended March 31,20242023202420232024202320242023
Net interest income$56,527 $41,418 $44,913 $46,758 $16,861 $13,229 $118,301 $101,405 
Provision for credit loss25,452 31,654 555 5,012 45 97 26,052 36,763 
Noninterest income109,687 111,776 17,749 14,176 1,509 1,086 128,945 127,038 
Noninterest expense59,452 49,910 38,130 38,846 42,849 38,380 140,431 127,136 
Income (loss) before income tax expense81,310 71,630 23,977 17,076 (24,524)(24,162)80,763 64,544 
Total assets493,718 361,528 4,124,909 3,581,677 2,818,490 2,925,051 7,437,117 6,868,256 
Total goodwill87,145 87,145 222,360 222,360 — — 309,505 309,505 
Total deposits6,063,339 5,744,278 7,143 9,313 297,862 149,105 6,368,344 5,902,696 
Six Months Ended March 31,
Net interest income$115,883 $75,690 $90,794 $89,082 $21,660 $20,690 $228,337 $185,462 
Provision for credit loss28,906 34,894 7,018 11,595 18 50 35,942 46,539 
Noninterest income142,474 151,315 33,748 28,538 5,484 12,962 181,706 192,815 
Noninterest expense109,465 84,404 72,986 71,595 77,254 76,196 259,705 232,195 
Income (loss) before income tax expense119,986 107,707 44,538 34,430 (50,128)(42,594)114,396 99,543 
Total assets493,718 361,528 4,124,909 3,581,677 2,818,490 2,925,051 7,437,117 6,868,256 
Total goodwill87,145 87,145 222,360 222,360 — — 309,505 309,505 
Total deposits6,063,339 5,744,278 7,143 9,313 297,862 149,105 6,368,344 5,902,696 
v3.24.1.u1
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Summary of Fair Values of Securities Available for Sale and Held to Maturity
The following tables summarize the fair values of debt securities available for sale and equity securities as they are measured at fair value on a recurring basis.
 At March 31, 2024
(Dollars in thousands)TotalLevel 1Level 2Level 3
Debt securities AFS    
Corporate securities$18,125 $— $18,125 $— 
SBA securities84,797 — 84,797 — 
Obligations of states and political subdivisions507 — 507 — 
Non-bank qualified obligations of states and political subdivisions222,669 — 222,669 — 
Asset-backed securities223,414 — 223,414 — 
Mortgage-backed securities1,229,946 — 1,229,946 — 
Total debt securities AFS$1,779,458 $— $1,779,458 $— 
Common equities and mutual funds(1)
$4,334 $4,334 $— $— 
Non-marketable equity securities(2)
$10,000 $— $— $— 
(1) Equity securities at fair value are included within other assets on the Condensed Consolidated Statements of Financial Condition at March 31, 2024.
(2) Consists of certain non-marketable equity securities that are measured at fair value using net asset value ("NAV") per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.
 At September 30, 2023
(Dollars in thousands)TotalLevel 1Level 2Level 3
Debt securities AFS    
Corporate securities$18,250 $— $18,250 $— 
SBA securities85,242 — 85,242 — 
Obligations of states and political subdivisions2,289 — 2,289 — 
Non-bank qualified obligations of states and political subdivisions226,723 — 226,723 — 
Asset-backed securities246,199 — 246,199 — 
Mortgage-backed securities1,225,525 — 1,225,525 — 
Total debt securities AFS$1,804,228 $— $1,804,228 $— 
Common equities and mutual funds(1)
$3,378 $3,378 $— $— 
Non-marketable equity securities(2)
$8,389 $— $— $— 
(1) Equity securities at fair value are included within other assets on the Consolidated Statements of Financial Condition at September 30, 2023.
(2) Consists of certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.
Assets Measured at Fair Value on Nonrecurring Basis
The following tables summarize the assets of the Company that are measured at fair value in the Condensed Consolidated Statements of Financial Condition on a nonrecurring basis:
 At March 31, 2024
(Dollars in thousands)TotalLevel 1Level 2Level 3
Loans and leases, net individually evaluated for credit loss    
Commercial finance$9,234 $— $— $9,234 
    Total loans and leases, net individually evaluated for credit loss9,234 — — 9,234 
Total$9,234 $— $— $9,234 
 At September 30, 2023
(Dollars in thousands)TotalLevel 1Level 2Level 3
Loans and leases, net individually evaluated for credit loss    
Commercial finance$21,829 $— $— $21,829 
    Total loans and leases, net individually evaluated for credit loss21,829 — — 21,829 
Total$21,829 $— $— $21,829 
Quantitative Information about Level 3 Fair Value Measurements
 Quantitative Information About Level 3 Fair Value Measurements
(Dollars in thousands)
Fair Value at
March 31, 2024
Fair Value at
September 30, 2023
Valuation
Technique		Unobservable InputRange of Inputs
Loans and leases, net individually evaluated for credit loss$9,234 $21,829 Market approach
Appraised values(1)
3% - 44%
(1) The Company generally relies on external appraisers to develop this information. Management reduced the appraised value by estimating selling costs and other inputs in a range of 3% to 44%.
Carrying Amount and Estimated Fair Value of Financial Instruments
The following tables present the carrying amount and estimated fair value of the financial instruments held by the Company:
 At March 31, 2024
(Dollars in thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets
Cash and cash equivalents$347,888 $347,888 $347,888 $— $— 
Debt securities available for sale1,779,458 1,779,458 — 1,779,458 — 
Debt securities held to maturity34,682 31,113 — 31,113 — 
Common equities and mutual funds(1)
4,334 4,334 4,334 — — 
Non-marketable equity securities(1)(2)
20,522 20,522 — 10,522 — 
Loans held for sale25,946 25,946 — 25,946 — 
Loans and leases4,402,408 4,339,150 — — 4,339,150 
Federal Reserve Bank and Federal Home Loan Bank stocks25,844 25,844 — 25,844 — 
Accrued interest receivable30,294 30,294 30,294 — — 
Financial liabilities
Deposits6,368,344 6,368,058 6,267,603 100,455 — 
Overnight federal funds purchased31,000 31,000 31,000 — — 
Other short- and long-term borrowings33,373 31,297 — 31,297 — 
Accrued interest payable1,961 1,961 1,961 — — 
(1) Equity securities at fair value are included within other assets on the Condensed Consolidated Statements of Financial Condition at March 31, 2024.
(2) Includes certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.
 At September 30, 2023
(Dollars in thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets
Cash and cash equivalents$375,580 $375,580 $375,580 $— $— 
Debt securities available for sale1,804,228 1,804,228 — 1,804,228 — 
Debt securities held to maturity36,591 31,425 — 31,425 — 
Common equities and mutual funds(1)
3,378 3,378 3,378 — — 
Non-marketable equity securities(1)(2)
20,453 20,453 — 12,064 — 
Loans held for sale77,779 77,779 — 77,779 — 
Loans and leases4,359,681 4,223,010 — — 4,223,010 
Federal Reserve Bank and Federal Home Loan Bank stocks28,210 28,210 — 28,210 — 
Accrued interest receivable23,282 23,282 23,282 — — 
Financial liabilities
Deposits6,589,182 6,589,065 6,583,648 5,417 — 
Overnight federal funds purchased13,000 13,000 13,000 — — 
Other short- and long-term borrowings33,873 31,187 — 31,187 — 
Accrued interest payable247 247 247 — — 
(1) Equity securities at fair value are included within other assets on the Consolidated Statements of Financial Condition at September 30, 2023.
(2) Includes certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.
v3.24.1.u1
SECURITIES - Available for Sale (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Sep. 30, 2023
Available-for-sale debt securities [Abstract]    
Amortized Cost $ 2,053,441 $ 2,143,333
Fair Value 1,779,458 1,804,228
Amortized Cost    
Due in one year or less 1,188 5,023
Due after one year through five years 19,591 11,175
Due after five years through ten years 73,455 79,139
Due after ten years 510,558 552,360
Total 604,792 647,697
Mortgage-backed securities 1,448,649 1,495,636
Fair Value    
Due in one year or less 1,175 4,971
Due after one year through five years 18,249 10,292
Due after five years through ten years 63,343 66,428
Due after ten years 466,745 497,012
Total 549,512 578,703
Mortgage-backed securities 1,229,946 1,225,525
Corporate securities    
Available-for-sale debt securities [Abstract]    
Amortized Cost 25,000 25,000
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) (6,875) (6,750)
Fair Value 18,125 18,250
LESS THAN 12 MONTHS, Fair Value 0 0
LESS THAN 12 MONTHS, Gross Unrealized (Losses) 0 0
OVER 12 MONTHS, Fair Value 18,125 18,250
OVER 12 MONTHS, Gross Unrealized (Losses) (6,875) (6,750)
TOTAL, Fair Value 18,125 18,250
TOTAL, Gross Unrealized (Losses) (6,875) (6,750)
SBA securities    
Available-for-sale debt securities [Abstract]    
Amortized Cost 91,979 95,549
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) (7,182) (10,307)
Fair Value 84,797 85,242
LESS THAN 12 MONTHS, Fair Value 22,894 22,327
LESS THAN 12 MONTHS, Gross Unrealized (Losses) (978) (1,919)
OVER 12 MONTHS, Fair Value 61,903 62,915
OVER 12 MONTHS, Gross Unrealized (Losses) (6,204) (8,388)
TOTAL, Fair Value 84,797 85,242
TOTAL, Gross Unrealized (Losses) (7,182) (10,307)
Obligations of states and political subdivisions    
Available-for-sale debt securities [Abstract]    
Amortized Cost 540 2,368
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) (33) (79)
Fair Value 507 2,289
LESS THAN 12 MONTHS, Fair Value 0 0
LESS THAN 12 MONTHS, Gross Unrealized (Losses) 0 0
OVER 12 MONTHS, Fair Value 506 2,289
OVER 12 MONTHS, Gross Unrealized (Losses) (33) (79)
TOTAL, Fair Value 506 2,289
TOTAL, Gross Unrealized (Losses) (33) (79)
Non-bank qualified obligations of states and political subdivisions    
Available-for-sale debt securities [Abstract]    
Amortized Cost 258,421 269,396
Gross Unrealized Gains 14 0
Gross Unrealized (Losses) (35,766) (42,673)
Fair Value 222,669 226,723
LESS THAN 12 MONTHS, Fair Value 940 5,010
LESS THAN 12 MONTHS, Gross Unrealized (Losses) (20) (83)
OVER 12 MONTHS, Fair Value 219,665 221,714
OVER 12 MONTHS, Gross Unrealized (Losses) (35,746) (42,590)
TOTAL, Fair Value 220,605 226,723
TOTAL, Gross Unrealized (Losses) (35,766) (42,673)
Asset-backed securities    
Available-for-sale debt securities [Abstract]    
Amortized Cost 228,852 255,384
Gross Unrealized Gains 420 234
Gross Unrealized (Losses) (5,858) (9,419)
Fair Value 223,414 246,199
LESS THAN 12 MONTHS, Fair Value 0 46,528
LESS THAN 12 MONTHS, Gross Unrealized (Losses) 0 (224)
OVER 12 MONTHS, Fair Value 103,409 115,608
OVER 12 MONTHS, Gross Unrealized (Losses) (5,858) (9,195)
TOTAL, Fair Value 103,409 162,136
TOTAL, Gross Unrealized (Losses) (5,858) (9,419)
Mortgage-backed securities    
Available-for-sale debt securities [Abstract]    
Amortized Cost 1,448,649 1,495,636
Gross Unrealized Gains 12 0
Gross Unrealized (Losses) (218,715) (270,111)
Fair Value 1,229,946 1,225,525
LESS THAN 12 MONTHS, Fair Value 17,317 18,311
LESS THAN 12 MONTHS, Gross Unrealized (Losses) (371) (944)
OVER 12 MONTHS, Fair Value 1,211,570 1,207,214
OVER 12 MONTHS, Gross Unrealized (Losses) (218,344) (269,167)
TOTAL, Fair Value 1,228,887 1,225,525
TOTAL, Gross Unrealized (Losses) (218,715) (270,111)
Total debt securities AFS    
Available-for-sale debt securities [Abstract]    
Amortized Cost 2,053,441 2,143,333
Gross Unrealized Gains 446 234
Gross Unrealized (Losses) (274,429) (339,339)
Fair Value 1,779,458 1,804,228
LESS THAN 12 MONTHS, Fair Value 41,151 92,176
LESS THAN 12 MONTHS, Gross Unrealized (Losses) (1,369) (3,170)
OVER 12 MONTHS, Fair Value 1,615,178 1,627,990
OVER 12 MONTHS, Gross Unrealized (Losses) (273,060) (336,169)
TOTAL, Fair Value 1,656,329 1,720,165
TOTAL, Gross Unrealized (Losses) $ (274,429) $ (339,339)
v3.24.1.u1
SECURITIES - Held to Maturity (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Sep. 30, 2023
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]    
Amortized Cost $ 34,682 $ 36,591
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) (3,569) (5,166)
Fair Value 31,113 31,425
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]    
LESS THAN 12 MONTHS, Fair Value 0 0
LESS THAN 12 MONTHS, Gross Unrealized (Losses) 0 0
OVER 12 MONTHS, Fair Value 31,113 31,425
OVER 12 MONTHS, Gross Unrealized (Losses) (3,569) (5,166)
TOTAL, Fair Value 31,113 31,425
TOTAL, Gross Unrealized (Losses) (3,569) (5,166)
Amortized Cost    
Due after ten years 32,602 34,415
Total 32,602 34,415
Mortgage-backed securities 2,080 2,176
Fair Value    
Due after ten years 29,281 29,571
Total 29,281 29,571
Mortgage-backed securities 1,832 1,854
Non-bank qualified obligations of states and political subdivisions    
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]    
Amortized Cost 32,602 34,415
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) (3,321) (4,844)
Fair Value 29,281 29,571
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]    
LESS THAN 12 MONTHS, Fair Value 0 0
LESS THAN 12 MONTHS, Gross Unrealized (Losses) 0 0
OVER 12 MONTHS, Fair Value 29,281 29,571
OVER 12 MONTHS, Gross Unrealized (Losses) (3,321) (4,844)
TOTAL, Fair Value 29,281 29,571
TOTAL, Gross Unrealized (Losses) (3,321) (4,844)
Mortgage-backed securities    
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]    
Amortized Cost 2,080 2,176
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) (248) (322)
Fair Value 1,832 1,854
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]    
LESS THAN 12 MONTHS, Fair Value 0 0
LESS THAN 12 MONTHS, Gross Unrealized (Losses) 0 0
OVER 12 MONTHS, Fair Value 1,832 1,854
OVER 12 MONTHS, Gross Unrealized (Losses) (248) (322)
TOTAL, Fair Value 1,832 1,854
TOTAL, Gross Unrealized (Losses) $ (248) $ (322)
v3.24.1.u1
SECURITIES - Narrative (Details)
 6 Months Ended
Mar. 31, 2024
USD ($)
security
Mar. 31, 2023
USD ($)
Sep. 30, 2023
USD ($)
Debt Securities, Available-for-sale [Line Items]      
AFS number of securities in an unrealized loss position (in securities) | security 194    
Federal reserve bank stock $ 19,700,000   $ 19,700,000
Federal home loan bank stock 6,200,000   8,500,000
Impairment recognized 0 $ 500,000  
Marketable      
Debt Securities, Available-for-sale [Line Items]      
Equity securities 4,300,000   3,400,000
Unrealized losses on equity securities 0 0  
Non-marketable      
Debt Securities, Available-for-sale [Line Items]      
Equity securities 10,000,000   8,400,000
Unrealized losses on equity securities 400,000    
Unrealized gains on equity securities 2,500,000 $ 100,000  
Equity securities without readily determinable fair value, amount $ 14,800,000   $ 16,200,000
Number of equity securities sold | security 1    
v3.24.1.u1
LOANS AND LEASES, NET - Summary of Loans (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans and leases $ 4,402,408   $ 4,359,681      
Net deferred loan origination costs 6,977   6,435      
Total gross loans and leases 4,409,385   4,366,116      
Allowance for credit losses (80,777)   (49,705)      
Total loans and leases, net 4,328,608   4,316,411      
National Lending | Term lending            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans and leases 1,489,054   1,308,133      
Allowance for credit losses (28,627) $ (27,013) (25,686) $ (28,415) $ (26,752) $ (24,621)
National Lending | Asset-based lending            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans and leases 429,556   382,371      
Allowance for credit losses (1,215) (1,370) (2,738) (1,081) (3,903) (1,050)
National Lending | Factoring            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans and leases 336,442   358,344      
Allowance for credit losses (6,814) (7,433) (6,566) (5,588) (5,674) (6,556)
National Lending | Lease financing            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans and leases 168,616   183,392      
Allowance for credit losses (1,551) (4,008) (3,302) (4,549) (5,238) (5,902)
National Lending | Insurance premium finance            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans and leases 522,904   800,077      
Allowance for credit losses (1,409) (2,123) (2,637) (1,263) (1,261) (1,450)
National Lending | SBA/USDA            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans and leases 560,433   524,750      
Allowance for credit losses (2,942) (3,289) (2,962) (2,640) (2,632) (3,263)
National Lending | Other commercial finance            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans and leases 149,056   166,091      
Allowance for credit losses (1,720) (3,312) (3,089) (4,332) (3,356) (1,310)
National Lending | Commercial finance            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans and leases 3,656,061   3,723,158      
Allowance for credit losses (44,278) (48,548) (46,980) (47,868) (48,816) (44,152)
National Lending | Consumer finance            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans and leases 267,031   254,416      
Allowance for credit losses (4,576) (4,380) (2,346) (2,965) (2,887) (1,463)
National Lending | Tax services            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans and leases 84,502   5,192      
Allowance for credit losses (31,528) (507) (2) (33,094) (609) (5)
National Lending | Warehouse finance            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans and leases 394,814   376,915      
Allowance for credit losses $ (395) $ (350) $ (377) $ (377) $ (280) $ (327)
v3.24.1.u1
LOANS AND LEASES, NET - Additional Information (Details) - USD ($)
$ in Thousands
 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Sep. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Originated loans held for sale $ 933,786 $ 608,628  
Proceeds from sale of loans held-for-sale 969,000 604,400  
Gain on sale of loans and leases (1,400) 100  
Loans and leases 4,409,385   $ 4,366,116
Pass      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and leases 3,288,706   3,222,502
Pass | Asset Pledged as Collateral      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and leases 119,100   117,000
Consumer finance portfolio segment      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and leases 267,000   254,400
Tax services loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and leases 84,500   $ 5,200
National Lending | Commercial Finance and Consumer Finance      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Originated loans held for sale $ 933,800 $ 608,600  
v3.24.1.u1
LOANS AND LEASES, NET - Schedule of Loans Purchased and Sold, by Portfolio Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loans Purchased, Loans held for investment $ 73,701 $ 120,185 $ 163,091 $ 187,834
Loans Sold, Loans held for sale     968,998 604,363
Loans Sold, Total sales 342,662 201,493 968,998 604,363
National Lending | Warehouse finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loans Purchased, Loans held for investment 73,701 120,185 163,091 187,834
National Lending | Commercial finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loans Sold, Loans held for sale 21,173 294 25,045 1,149
National Lending | Consumer finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loans Sold, Loans held for sale $ 321,489 $ 201,199 $ 943,953 $ 603,214
v3.24.1.u1
LOANS AND LEASES, NET - Direct Financing and Sales-type Leases, and Lease Receivable Maturity (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Sep. 30, 2023
Net Investment in Lease [Abstract]          
Minimum lease payments receivable $ 177,498   $ 177,498   $ 191,807
Unguaranteed residual assets 12,171   12,171   12,709
Unamortized initial direct costs 82   82   141
Unearned income (21,053)   (21,053)   (21,124)
Total net investment in direct financing and sales-type leases 168,698   168,698   $ 183,533
Interest income - loans and leases          
Interest income on net investments in direct financing and sales-type leases 2,853 $ 2,819 5,961 $ 5,962  
Lease income from operating lease payments 13,605 12,843 26,860 25,397  
Other 869 (356) 1,593 346  
Total leasing and equipment finance noninterest income 14,474 12,487 28,453 25,743  
Total lease income 17,327 $ 15,306 34,414 $ 31,705  
Sales-type and Direct Financing Leases, Lease Receivable, Fiscal Year Maturity [Abstract]          
Remaining in 2024 36,927   36,927    
2025 53,952   53,952    
2026 34,868   34,868    
2027 21,176   21,176    
2028 16,575   16,575    
Thereafter 14,000   14,000    
Total undiscounted future minimum lease payments receivable for direct financing and sales-type leases 177,498   177,498    
Third-party residual value guarantees 0   0    
Total carrying amount of direct financing and sales-type leases $ 177,498   $ 177,498    
v3.24.1.u1
LOANS AND LEASES, NET - Allowance for Loan Losses and Recorded Investment in Loans (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Allowance for Credit Losses [Roll Forward]        
Beginning Balance     $ 49,705  
Provision (Reversal) $ 26,052 $ 36,763 35,942 $ 46,539
Ending Balance 80,777   80,777  
Total Committed Loans        
Allowance for Credit Losses [Roll Forward]        
Beginning Balance 53,785 52,592 49,705 45,947
Provision (Reversal) 25,905 36,686 35,471 46,549
Charge-offs (5,492) (6,625) (12,362) (11,064)
Recoveries 6,579 1,651 7,963 2,872
Ending Balance 80,777 84,304 80,777 84,304
Unfunded commitments        
Allowance for Credit Losses [Roll Forward]        
Beginning Balance 596 279 272 366
Provision (Reversal) 147 77 471 (10)
Charge-offs 0 0 0 0
Recoveries 0 0 0 0
Ending Balance 743 356 743 356
Total Loans        
Allowance for Credit Losses [Roll Forward]        
Beginning Balance 54,381 52,871 49,977 46,313
Provision (Reversal) 26,052 36,763 35,942 46,539
Charge-offs (5,492) (6,625) (12,362) (11,064)
Recoveries 6,579 1,651 7,963 2,872
Ending Balance 81,520 84,660 81,520 84,660
National Lending | Term lending        
Allowance for Credit Losses [Roll Forward]        
Beginning Balance 27,013 26,752 25,686 24,621
Provision (Reversal) 6,303 3,974 12,125 7,645
Charge-offs (5,176) (2,705) (10,297) (4,522)
Recoveries 487 394 1,113 671
Ending Balance 28,627 28,415 28,627 28,415
National Lending | Asset-based lending        
Allowance for Credit Losses [Roll Forward]        
Beginning Balance 1,370 3,903 2,738 1,050
Provision (Reversal) (254) 51 (1,764) 2,904
Charge-offs 0 (2,873) 0 (2,873)
Recoveries 99 0 241 0
Ending Balance 1,215 1,081 1,215 1,081
National Lending | Factoring        
Allowance for Credit Losses [Roll Forward]        
Beginning Balance 7,433 5,674 6,566 6,556
Provision (Reversal) (623) (40) 128 (804)
Charge-offs (12) (62) (35) (183)
Recoveries 16 16 155 19
Ending Balance 6,814 5,588 6,814 5,588
National Lending | Lease financing        
Allowance for Credit Losses [Roll Forward]        
Beginning Balance 4,008 5,238 3,302 5,902
Provision (Reversal) (2,547) (183) (1,781) (621)
Charge-offs   (607) (125) (1,013)
Recoveries 62 101 155 281
Ending Balance 1,551 4,549 1,551 4,549
National Lending | Lease Financing, Net Of Adjustments        
Allowance for Credit Losses [Roll Forward]        
Charge-offs 28      
National Lending | Insurance premium finance        
Allowance for Credit Losses [Roll Forward]        
Beginning Balance 2,123 1,261 2,637 1,450
Provision (Reversal) (532) 155 (771) 108
Charge-offs (295) (224) (660) (409)
Recoveries 113 71 203 114
Ending Balance 1,409 1,263 1,409 1,263
National Lending | SBA/USDA        
Allowance for Credit Losses [Roll Forward]        
Beginning Balance 3,289 2,632 2,962 3,263
Provision (Reversal) (347) 2 (20) (649)
Charge-offs 0 0 0 0
Recoveries 0 6 0 26
Ending Balance 2,942 2,640 2,942 2,640
National Lending | Other commercial finance        
Allowance for Credit Losses [Roll Forward]        
Beginning Balance 3,312 3,356 3,089 1,310
Provision (Reversal) (1,592) 976 (1,369) 3,022
Charge-offs 0 0 0 0
Recoveries 0 0 0 0
Ending Balance 1,720 4,332 1,720 4,332
National Lending | Commercial finance        
Allowance for Credit Losses [Roll Forward]        
Beginning Balance 48,548 48,816 46,980 44,152
Provision (Reversal) 408 4,935 6,548 11,605
Charge-offs (5,455) (6,471) (11,117) (9,000)
Recoveries 777 588 1,867 1,111
Ending Balance 44,278 47,868 44,278 47,868
National Lending | Consumer finance        
Allowance for Credit Losses [Roll Forward]        
Beginning Balance 4,380 2,887 2,346 1,463
Provision (Reversal) 231 232 2,328 1,835
Charge-offs (37) (154) (100) (333)
Recoveries 2 0 2 0
Ending Balance 4,576 2,965 4,576 2,965
National Lending | Tax services        
Allowance for Credit Losses [Roll Forward]        
Beginning Balance 507 609 2 5
Provision (Reversal) 25,221 31,422 26,577 33,059
Charge-offs 0 0 (1,145) (1,731)
Recoveries 5,800 1,063 6,094 1,761
Ending Balance 31,528 33,094 31,528 33,094
National Lending | Warehouse finance        
Allowance for Credit Losses [Roll Forward]        
Beginning Balance 350 280 377 327
Provision (Reversal) 45 97 18 50
Charge-offs 0 0 0 0
Recoveries 0 0 0 0
Ending Balance $ 395 $ 377 $ 395 $ 377
v3.24.1.u1
LOANS AND LEASES, NET - Impaired Loans (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Sep. 30, 2022
Financing Receivable, Impaired [Line Items]          
Impaired loans, unpaid balance $ 15,811   $ 15,811   $ 25,255
Average recorded investment 28,794 $ 20,579 30,107 $ 19,699  
National Lending | Term lending          
Financing Receivable, Impaired [Line Items]          
Impaired loans, unpaid balance 7,100   7,100   3,516
Average recorded investment 18,999 9,758 18,209 9,277  
National Lending | Asset-based lending          
Financing Receivable, Impaired [Line Items]          
Impaired loans, unpaid balance 1,213   1,213   19,226
Average recorded investment 82 5,292 4,896 4,782  
National Lending | Factoring          
Financing Receivable, Impaired [Line Items]          
Impaired loans, unpaid balance 5,103   5,103   1,133
Average recorded investment 5,745 523 3,463 615  
National Lending | Lease financing          
Financing Receivable, Impaired [Line Items]          
Impaired loans, unpaid balance 647   647   630
Average recorded investment 1,639 3,627 1,631 3,625  
National Lending | SBA/USDA          
Financing Receivable, Impaired [Line Items]          
Impaired loans, unpaid balance 1,748   1,748   750
Average recorded investment 2,329 1,379 1,908 1,400  
National Lending | Commercial finance          
Financing Receivable, Impaired [Line Items]          
Impaired loans, unpaid balance 15,811   15,811   $ 25,255
Average recorded investment $ 28,794 $ 20,579 $ 30,107 $ 19,699  
v3.24.1.u1
LOANS AND LEASES, NET - Credit Quality Indicator (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Sep. 30, 2023
Financing Receivable, Credit Quality Indicator [Line Items]          
Total gross loans and leases $ 4,409,385   $ 4,409,385   $ 4,366,116
Pass          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 753,063   753,063   1,554,843
2023 878,107   878,107   333,793
2022 331,012   331,012   173,825
2021 166,334   166,334   138,032
2020 98,576   98,576   37,324
Prior 165,525   165,525   175,272
Revolving Loans and Leases 896,089   896,089   809,413
Total gross loans and leases 3,288,706   3,288,706   3,222,502
Watch          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 67,689   67,689   105,884
2023 57,441   57,441   110,339
2022 55,298   55,298   71,265
2021 35,121   35,121   16,775
2020 12,067   12,067   6,419
Prior 5,024   5,024   3,354
Revolving Loans and Leases 214,470   214,470   245,076
Total gross loans and leases 447,110   447,110   559,112
Special mention          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 950   950   26,789
2023 15,435   15,435   13,868
2022 8,547   8,547   21,840
2021 19,254   19,254   1,138
2020 13,954   13,954   3,127
Prior 528   528   75
Revolving Loans and Leases 28,989   28,989   35,274
Total gross loans and leases 87,657   87,657   102,111
Substandard          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 9,603   9,603   38,423
2023 54,679   54,679   35,260
2022 36,114   36,114   49,237
2021 49,835   49,835   33,691
2020 30,131   30,131   15,443
Prior 18,036   18,036   8,773
Revolving Loans and Leases 19,710   19,710   27,366
Total gross loans and leases 218,108   218,108   208,193
Doubtful          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   380
2023 728   728   2,807
2022 3,214   3,214   1,762
2021 1,715   1,715   1,182
2020 534   534   165
Prior 1,549   1,549   1,358
Revolving Loans and Leases 1,554   1,554   501
Total gross loans and leases 9,294   9,294   8,155
Total          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 831,305   831,305   1,726,319
2023 1,006,390   1,006,390   496,067
2022 434,185   434,185   317,929
2021 272,259   272,259   190,818
2020 155,262   155,262   62,478
Prior 190,662   190,662   188,832
Revolving Loans and Leases 1,160,812   1,160,812   1,117,630
Total gross loans and leases 4,050,875   4,050,875   4,100,073
National Lending | Total          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024, Writeoffs     0    
2023, Writeoffs     1,823    
2022, Writeoffs     5,236    
2021, Writeoffs     2,372    
2020, Writeoffs     1,418    
Prior, Writeoffs     233    
Revolving Loans and Leases, Writeoffs     35    
Total, Writeoffs     11,117    
National Lending | Term lending          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total, Writeoffs 5,176 $ 2,705 10,297 $ 4,522  
National Lending | Term lending | Pass          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 308,787   308,787   539,448
2023 492,087   492,087   149,190
2022 125,586   125,586   99,677
2021 97,696   97,696   73,132
2020 54,397   54,397   14,368
Prior 48,457   48,457   85,812
Revolving Loans and Leases 0   0   0
Total gross loans and leases 1,127,010   1,127,010   961,627
National Lending | Term lending | Watch          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 66,389   66,389   53,481
2023 42,282   42,282   51,036
2022 46,196   46,196   58,041
2021 24,715   24,715   12,230
2020 3,456   3,456   4,483
Prior 1,549   1,549   727
Revolving Loans and Leases 0   0   0
Total gross loans and leases 184,587   184,587   179,998
National Lending | Term lending | Special mention          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 920   920   26,539
2023 14,887   14,887   13,853
2022 7,222   7,222   20,463
2021 19,254   19,254   723
2020 10,145   10,145   2,932
Prior 114   114   75
Revolving Loans and Leases 0   0   0
Total gross loans and leases 52,542   52,542   64,585
National Lending | Term lending | Substandard          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 9,546   9,546   20,437
2023 35,689   35,689   30,451
2022 23,732   23,732   14,729
2021 21,362   21,362   24,613
2020 22,623   22,623   3,872
Prior 4,730   4,730   764
Revolving Loans and Leases 0   0   0
Total gross loans and leases 117,682   117,682   94,866
National Lending | Term lending | Doubtful          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   200
2023 601   601   2,655
2022 3,135   3,135   1,691
2021 1,657   1,657   1,121
2020 534   534   165
Prior 1,306   1,306   1,225
Revolving Loans and Leases 0   0   0
Total gross loans and leases 7,233   7,233   7,057
National Lending | Term lending | Total          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 385,642   385,642   640,105
2023 585,546   585,546   247,185
2022 205,871   205,871   194,601
2021 164,684   164,684   111,819
2020 91,155   91,155   25,820
Prior 56,156   56,156   88,603
Revolving Loans and Leases 0   0   0
Total gross loans and leases 1,489,054   1,489,054   1,308,133
2024, Writeoffs     0    
2023, Writeoffs     1,336    
2022, Writeoffs     5,063    
2021, Writeoffs     2,314    
2020, Writeoffs     1,351    
Prior, Writeoffs     233    
Revolving Loans and Leases, Writeoffs     0    
Total, Writeoffs     10,297    
National Lending | Asset-based lending          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total, Writeoffs 0 2,873 0 2,873  
National Lending | Asset-based lending | Pass          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 229,053   229,053   161,744
Total gross loans and leases 229,053   229,053   161,744
National Lending | Asset-based lending | Watch          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 176,233   176,233   174,243
Total gross loans and leases 176,233   176,233   174,243
National Lending | Asset-based lending | Special mention          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 21,530   21,530   26,382
Total gross loans and leases 21,530   21,530   26,382
National Lending | Asset-based lending | Substandard          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 2,740   2,740   19,501
Total gross loans and leases 2,740   2,740   19,501
National Lending | Asset-based lending | Doubtful          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024         0
2023         0
2022         0
2021         0
2020         0
Prior         0
Revolving Loans and Leases         501
Total gross loans and leases         501
National Lending | Asset-based lending | Total          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 429,556   429,556   382,371
Total gross loans and leases 429,556   429,556   382,371
2024, Writeoffs     0    
2023, Writeoffs     0    
2022, Writeoffs     0    
2021, Writeoffs     0    
2020, Writeoffs     0    
Prior, Writeoffs     0    
Revolving Loans and Leases, Writeoffs     0    
Total, Writeoffs     0    
National Lending | Factoring          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total, Writeoffs 12 62 35 183  
National Lending | Factoring | Pass          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 272,222   272,222   270,754
Total gross loans and leases 272,222   272,222   270,754
National Lending | Factoring | Watch          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 38,237   38,237   70,833
Total gross loans and leases 38,237   38,237   70,833
National Lending | Factoring | Special mention          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 7,459   7,459   8,892
Total gross loans and leases 7,459   7,459   8,892
National Lending | Factoring | Substandard          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 16,970   16,970   7,865
Total gross loans and leases 16,970   16,970   7,865
National Lending | Factoring | Doubtful          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0    
2023 0   0    
2022 0   0    
2021 0   0    
2020 0   0    
Prior 0   0    
Revolving Loans and Leases 1,554   1,554    
Total gross loans and leases 1,554   1,554    
National Lending | Factoring | Total          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 336,442   336,442   358,344
Total gross loans and leases 336,442   336,442   358,344
2024, Writeoffs     0    
2023, Writeoffs     0    
2022, Writeoffs     0    
2021, Writeoffs     0    
2020, Writeoffs     0    
Prior, Writeoffs     0    
Revolving Loans and Leases, Writeoffs     35    
Total, Writeoffs     35    
National Lending | Lease financing          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total, Writeoffs   607 125 1,013  
National Lending | Lease financing | Pass          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 29,214   29,214   57,123
2023 57,899   57,899   15,941
2022 11,949   11,949   15,167
2021 10,795   10,795   27,489
2020 17,486   17,486   4,036
Prior 2,851   2,851   1,281
Revolving Loans and Leases 0   0   0
Total gross loans and leases 130,194   130,194   121,037
National Lending | Lease financing | Watch          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 1,210   1,210   793
2023 164   164   10,436
2022 9,047   9,047   12,566
2021 9,295   9,295   4,494
2020 2,019   2,019   1,579
Prior 398   398   55
Revolving Loans and Leases 0   0   0
Total gross loans and leases 22,133   22,133   29,923
National Lending | Lease financing | Special mention          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 278   278   0
2022 0   0   847
2021 0   0   415
2020 1,026   1,026   195
Prior 45   45   0
Revolving Loans and Leases 0   0   0
Total gross loans and leases 1,349   1,349   1,457
National Lending | Lease financing | Substandard          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 52   52   14,890
2023 6,013   6,013   1,983
2022 1,165   1,165   7,082
2021 3,506   3,506   3,660
2020 2,291   2,291   3,062
Prior 1,612   1,612   33
Revolving Loans and Leases 0   0   0
Total gross loans and leases 14,639   14,639   30,710
National Lending | Lease financing | Doubtful          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   71
2021 58   58   61
2020 0   0   0
Prior 243   243   133
Revolving Loans and Leases 0   0   0
Total gross loans and leases 301   301   265
National Lending | Lease financing | Total          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 30,476   30,476   72,806
2023 64,354   64,354   28,360
2022 22,161   22,161   35,733
2021 23,654   23,654   36,119
2020 22,822   22,822   8,872
Prior 5,149   5,149   1,502
Revolving Loans and Leases 0   0   0
Total gross loans and leases 168,616   168,616   183,392
National Lending | Lease Financing, Net Of Adjustments          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total, Writeoffs (28)        
National Lending | Lease Financing, Net Of Adjustments | Total          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024, Writeoffs     0    
2023, Writeoffs     0    
2022, Writeoffs     0    
2021, Writeoffs     58    
2020, Writeoffs     67    
Prior, Writeoffs     0    
Revolving Loans and Leases, Writeoffs     0    
Total, Writeoffs     125    
National Lending | Insurance premium finance          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total, Writeoffs 295 224 660 409  
National Lending | Insurance premium finance | Pass          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 380,580   380,580   797,267
2023 141,340   141,340   1,210
2022 56   56   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 0   0   0
Total gross loans and leases 521,976   521,976   798,477
National Lending | Insurance premium finance | Watch          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 90   90   858
2023 254   254   34
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 0   0   0
Total gross loans and leases 344   344   892
National Lending | Insurance premium finance | Special mention          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 30   30   250
2023 270   270   15
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 0   0   0
Total gross loans and leases 300   300   265
National Lending | Insurance premium finance | Substandard          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 5   5   91
2023 152   152   20
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 0   0   0
Total gross loans and leases 157   157   111
National Lending | Insurance premium finance | Doubtful          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   180
2023 127   127   152
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 0   0   0
Total gross loans and leases 127   127   332
National Lending | Insurance premium finance | Total          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 380,705   380,705   798,646
2023 142,143   142,143   1,431
2022 56   56   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 0   0   0
Total gross loans and leases 522,904   522,904   800,077
2024, Writeoffs     0    
2023, Writeoffs     487    
2022, Writeoffs     173    
2021, Writeoffs     0    
2020, Writeoffs     0    
Prior, Writeoffs     0    
Revolving Loans and Leases, Writeoffs     0    
Total, Writeoffs     660    
National Lending | SBA/USDA          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total, Writeoffs 0 0 0 0  
National Lending | SBA/USDA | Pass          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 34,482   34,482   158,675
2023 184,511   184,511   148,525
2022 182,889   182,889   26,244
2021 25,243   25,243   36,274
2020 25,614   25,614   8,798
Prior 40,539   40,539   18,252
Revolving Loans and Leases 0   0   0
Total gross loans and leases 493,278   493,278   396,768
National Lending | SBA/USDA | Watch          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   49,010
2023 12,241   12,241   48,833
2022 55   55   658
2021 1,111   1,111   51
2020 6,592   6,592   357
Prior 3,077   3,077   2,572
Revolving Loans and Leases 0   0   0
Total gross loans and leases 23,076   23,076   101,481
National Lending | SBA/USDA | Special mention          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 0   0   0
2022 1,325   1,325   530
2021 0   0   0
2020 2,783   2,783   0
Prior 369   369   0
Revolving Loans and Leases 0   0   0
Total gross loans and leases 4,477   4,477   530
National Lending | SBA/USDA | Substandard          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   252
2023 10,144   10,144   2,356
2022 11,173   11,173   1,718
2021 1,295   1,295   5,418
2020 5,217   5,217   8,509
Prior 11,694   11,694   7,718
Revolving Loans and Leases 0   0   0
Total gross loans and leases 39,523   39,523   25,971
National Lending | SBA/USDA | Doubtful          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0    
2023 0   0    
2022 79   79    
2021 0   0    
2020 0   0    
Prior 0   0    
Revolving Loans and Leases 0   0    
Total gross loans and leases 79   79    
National Lending | SBA/USDA | Total          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 34,482   34,482   207,937
2023 206,896   206,896   199,714
2022 195,521   195,521   29,150
2021 27,649   27,649   41,743
2020 40,206   40,206   17,664
Prior 55,679   55,679   28,542
Revolving Loans and Leases 0   0   0
Total gross loans and leases 560,433   560,433   524,750
2024, Writeoffs     0    
2023, Writeoffs     0    
2022, Writeoffs     0    
2021, Writeoffs     0    
2020, Writeoffs     0    
Prior, Writeoffs     0    
Revolving Loans and Leases, Writeoffs     0    
Total, Writeoffs     0    
National Lending | Other commercial finance          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total, Writeoffs 0 0 0 0  
National Lending | Other commercial finance | Pass          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   2,330
2023 2,270   2,270   18,927
2022 10,532   10,532   32,737
2021 32,600   32,600   1,137
2020 1,079   1,079   10,122
Prior 73,678   73,678   69,927
Revolving Loans and Leases 0   0   0
Total gross loans and leases 120,159   120,159   135,180
National Lending | Other commercial finance | Watch          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   1,742
2023 2,500   2,500   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 0   0   0
Total gross loans and leases 2,500   2,500   1,742
National Lending | Other commercial finance | Substandard          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   2,753
2023 2,681   2,681   450
2022 44   44   25,708
2021 23,672   23,672   0
2020 0   0   0
Prior 0   0   258
Revolving Loans and Leases 0   0   0
Total gross loans and leases 26,397   26,397   29,169
National Lending | Other commercial finance | Total          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   6,825
2023 7,451   7,451   19,377
2022 10,576   10,576   58,445
2021 56,272   56,272   1,137
2020 1,079   1,079   10,122
Prior 73,678   73,678   70,185
Revolving Loans and Leases 0   0   0
Total gross loans and leases 149,056   149,056   166,091
2024, Writeoffs     0    
2023, Writeoffs     0    
2022, Writeoffs     0    
2021, Writeoffs     0    
2020, Writeoffs     0    
Prior, Writeoffs     0    
Revolving Loans and Leases, Writeoffs     0    
Total, Writeoffs     0    
National Lending | Warehouse finance          
Financing Receivable, Credit Quality Indicator [Line Items]          
Total, Writeoffs 0 $ 0 0 $ 0  
National Lending | Warehouse finance | Pass          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 394,814   394,814   376,915
Total gross loans and leases 394,814   394,814   376,915
National Lending | Warehouse finance | Total          
Financing Receivable, Credit Quality Indicator [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans and Leases 394,814   394,814   376,915
Total gross loans and leases $ 394,814   394,814   $ 376,915
2024, Writeoffs     0    
2023, Writeoffs     0    
2022, Writeoffs     0    
2021, Writeoffs     0    
2020, Writeoffs     0    
Prior, Writeoffs     0    
Revolving Loans and Leases, Writeoffs     0    
Total, Writeoffs     $ 0    
v3.24.1.u1
LOANS AND LEASES, NET - Past Due Loans (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Sep. 30, 2023
Financing Receivable, Past Due [Line Items]    
Loans and leases $ 4,409,385 $ 4,366,116
Accruing and Nonaccruing Loans and Leases    
Financing Receivable, Past Due [Line Items]    
Loans and leases 4,428,354 4,437,460
Accruing and Nonaccruing Loans and Leases | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Loans and leases 4,402,408 4,359,681
Accruing and Nonaccruing Loans and Leases | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Loans and leases 25,946 77,779
Accruing and Nonaccruing Loans and Leases | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 1,489,054 1,308,133
Accruing and Nonaccruing Loans and Leases | National Lending | Asset-based lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 429,556 382,371
Accruing and Nonaccruing Loans and Leases | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Loans and leases 336,442 358,344
Accruing and Nonaccruing Loans and Leases | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Loans and leases 168,616 183,392
Accruing and Nonaccruing Loans and Leases | National Lending | Insurance premium finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 522,904 800,077
Accruing and Nonaccruing Loans and Leases | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 560,433 524,750
Accruing and Nonaccruing Loans and Leases | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 149,056 166,091
Accruing and Nonaccruing Loans and Leases | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 3,656,061 3,723,158
Accruing and Nonaccruing Loans and Leases | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 267,031 254,416
Accruing and Nonaccruing Loans and Leases | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 84,502 5,192
Accruing and Nonaccruing Loans and Leases | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 394,814 376,915
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans and leases 42,221 27,052
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Loans and leases 41,898 26,426
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Loans and leases 323 626
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 31,580 13,898
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Asset-based lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,655 6,865
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Insurance premium finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,211 2,159
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 36 512
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 36,482 23,434
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 4,293 2,992
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 1,123 0
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans and leases 27,533 12,117
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Loans and leases 26,987 11,568
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Loans and leases 546 549
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 20,883 7,723
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Asset-based lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Loans and leases 171 158
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Insurance premium finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 592 1,262
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,340 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 23,986 9,143
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 3,001 2,425
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans and leases 19,532 27,950
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Loans and leases 18,689 27,644
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Loans and leases 843 306
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 10,397 11,136
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Asset-based lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 123
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Loans and leases 1,526 4,828
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Insurance premium finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 1,037 2,339
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,636 1,835
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 91
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 15,596 20,352
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 3,093 2,210
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 5,082
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Accruing and Nonaccruing Loans and Leases | Total Past Due    
Financing Receivable, Past Due [Line Items]    
Loans and leases 89,286 67,119
Accruing and Nonaccruing Loans and Leases | Total Past Due | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Loans and leases 87,574 65,638
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Loans and leases 1,712 1,481
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 62,860 32,757
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Asset-based lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 123
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Loans and leases 4,352 11,851
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Insurance premium finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 3,840 5,760
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 5,012 2,347
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 91
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 76,064 52,929
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 10,387 7,627
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 1,123 5,082
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Accruing and Nonaccruing Loans and Leases | Current    
Financing Receivable, Past Due [Line Items]    
Loans and leases 4,339,068 4,370,341
Accruing and Nonaccruing Loans and Leases | Current | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Loans and leases 4,314,834 4,294,043
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Loans and leases 24,234 76,298
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 1,426,194 1,275,376
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Asset-based lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 429,556 382,248
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Loans and leases 336,442 358,344
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Loans and leases 164,264 171,541
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Insurance premium finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 519,064 794,317
Accruing and Nonaccruing Loans and Leases | Current | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 555,421 522,403
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 149,056 166,000
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 3,579,997 3,670,229
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 256,644 246,789
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 83,379 110
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 394,814 376,915
Nonperforming Loans and Leases    
Financing Receivable, Past Due [Line Items]    
Loans and leases 34,396 56,212
Nonaccrual Balance 27,781 37,372
Nonperforming Loans and Leases | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Loans and leases 33,553 55,906
Nonaccrual Balance 27,781 37,372
Nonperforming Loans and Leases | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Loans and leases 843 306
Nonaccrual Balance 0 0
Nonperforming Loans and Leases | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 19,850 19,061
Nonaccrual Balance 18,960 15,324
Nonperforming Loans and Leases | National Lending | Asset-based lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 18,082
Nonaccrual Balance 0 18,082
Nonperforming Loans and Leases | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Loans and leases 4,580 1,298
Nonaccrual Balance 4,580 1,298
Nonperforming Loans and Leases | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,357 5,908
Nonaccrual Balance 1,605 1,666
Nonperforming Loans and Leases | National Lending | Insurance premium finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 1,037 2,339
Nonaccrual Balance 0 0
Nonperforming Loans and Leases | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,636 1,835
Nonaccrual Balance 2,636 1,002
Nonperforming Loans and Leases | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 91
Nonaccrual Balance 0 0
Nonperforming Loans and Leases | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 30,460 48,614
Nonaccrual Balance 27,781 37,372
Nonperforming Loans and Leases | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 3,093 2,210
Nonaccrual Balance 0 0
Nonperforming Loans and Leases | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 5,082
Nonaccrual Balance 0 0
Nonperforming Loans and Leases | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Nonaccrual Balance 0 0
Nonperforming Loans and Leases | > 89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans and leases 6,615 18,840
Nonperforming Loans and Leases | > 89 Days Past Due | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Loans and leases 5,772 18,534
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Loans and leases 843 306
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 890 3,737
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Asset-based lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Loans and leases 752 4,242
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Insurance premium finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 1,037 2,339
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 833
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 91
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,679 11,242
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 3,093 2,210
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 5,082
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases $ 0 $ 0
v3.24.1.u1
LOANS AND LEASES, NET - Nonaccrual (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Sep. 30, 2023
Financing Receivable, Nonaccrual [Line Items]    
Loans and leases $ 4,409,385 $ 4,366,116
Nonaccrual Loans    
Financing Receivable, Nonaccrual [Line Items]    
2024 1,121 865
2023 3,990 5,692
2022 7,588 3,379
2021 2,762 2,825
2020 3,146 3,134
Prior 4,594 2,097
Revolving Loans and Leases 4,580 19,380
Loans and leases 27,781 37,372
Nonaccrual with No ACL 1,289 1
Nonaccrual Loans | National Lending | Term lending    
Financing Receivable, Nonaccrual [Line Items]    
2024 1,121 865
2023 2,683 4,942
2022 7,414 2,933
2021 2,222 2,165
2020 1,446 3,134
Prior 4,074 1,285
Revolving Loans and Leases 0 0
Loans and leases 18,960 15,324
Nonaccrual with No ACL 0 0
Nonaccrual Loans | National Lending | Asset-based lending    
Financing Receivable, Nonaccrual [Line Items]    
2024   0
2023   0
2022   0
2021   0
2020   0
Prior   0
Revolving Loans and Leases   18,082
Loans and leases   18,082
Nonaccrual with No ACL   0
Nonaccrual Loans | National Lending | Factoring    
Financing Receivable, Nonaccrual [Line Items]    
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving Loans and Leases 4,580 1,298
Loans and leases 4,580 1,298
Nonaccrual with No ACL 0 0
Nonaccrual Loans | National Lending | Lease financing    
Financing Receivable, Nonaccrual [Line Items]    
2024 0 0
2023 0 0
2022 95 446
2021 540 660
2020 695 0
Prior 275 560
Revolving Loans and Leases 0 0
Loans and leases 1,605 1,666
Nonaccrual with No ACL 539 1
Nonaccrual Loans | National Lending | SBA/USDA    
Financing Receivable, Nonaccrual [Line Items]    
2024 0 0
2023 1,307 750
2022 79 0
2021 0 0
2020 1,005 0
Prior 245 252
Revolving Loans and Leases 0 0
Loans and leases 2,636 1,002
Nonaccrual with No ACL 750 0
Nonaccrual Loans | National Lending | Commercial finance    
Financing Receivable, Nonaccrual [Line Items]    
2024 1,121 865
2023 3,990 5,692
2022 7,588 3,379
2021 2,762 2,825
2020 3,146 3,134
Prior 4,594 2,097
Revolving Loans and Leases 4,580 19,380
Loans and leases 27,781 37,372
Nonaccrual with No ACL 1,289 1
90 or More Days Delinquent and Accruing    
Financing Receivable, Nonaccrual [Line Items]    
2024 861 8,034
2023 3,957 3,320
2022 716 1,839
2021 550 1,850
2020 256 2,157
Prior 275 1,612
Revolving Loans and Leases 0 28
Loans and leases 6,615 18,840
90 or More Days Delinquent and Accruing | Total loans and leases held for investment    
Financing Receivable, Nonaccrual [Line Items]    
2024 861 7,728
2023 3,114 3,320
2022 716 1,839
2021 550 1,850
2020 256 2,157
Prior 275 1,612
Revolving Loans and Leases 0 28
Loans and leases 5,772 18,534
90 or More Days Delinquent and Accruing | National Lending | Loans held for sale    
Financing Receivable, Nonaccrual [Line Items]    
2024 0 306
2023 843 0
2022 0 0
2021 0 0
2020 0 0
Prior 0 0
Revolving Loans and Leases 0 0
Loans and leases 843 306
90 or More Days Delinquent and Accruing | National Lending | Term lending    
Financing Receivable, Nonaccrual [Line Items]    
2024 0 1,604
2023 185 1,371
2022 58 500
2021 393 233
2020 254 29
Prior 0 0
Revolving Loans and Leases 0 0
Loans and leases 890 3,737
90 or More Days Delinquent and Accruing | National Lending | Lease financing    
Financing Receivable, Nonaccrual [Line Items]    
2024 354 151
2023 121 490
2022 0 979
2021 0 784
2020 2 1,794
Prior 275 44
Revolving Loans and Leases 0 0
Loans and leases 752 4,242
90 or More Days Delinquent and Accruing | National Lending | Insurance premium finance    
Financing Receivable, Nonaccrual [Line Items]    
2024 198 0
2023 839 414
2022 0 114
2021 0 0
2020 0 334
Prior 0 1,477
Revolving Loans and Leases 0 0
Loans and leases 1,037 2,339
90 or More Days Delinquent and Accruing | National Lending | Other commercial finance    
Financing Receivable, Nonaccrual [Line Items]    
2024   0
2023   0
2022   0
2021   0
2020   0
Prior   91
Revolving Loans and Leases   0
Loans and leases   91
90 or More Days Delinquent and Accruing | National Lending | SBA/USDA    
Financing Receivable, Nonaccrual [Line Items]    
2024   0
2023   0
2022   0
2021   833
2020   0
Prior   0
Revolving Loans and Leases   0
Loans and leases   833
90 or More Days Delinquent and Accruing | National Lending | Commercial finance    
Financing Receivable, Nonaccrual [Line Items]    
2024 552 1,755
2023 1,145 2,275
2022 58 1,593
2021 393 1,850
2020 256 2,157
Prior 275 1,612
Revolving Loans and Leases 0 0
Loans and leases 2,679 11,242
90 or More Days Delinquent and Accruing | National Lending | Consumer finance    
Financing Receivable, Nonaccrual [Line Items]    
2024 309 891
2023 1,969 1,045
2022 658 246
2021 157 0
2020 0 0
Prior 0 0
Revolving Loans and Leases 0 28
Loans and leases $ 3,093 2,210
90 or More Days Delinquent and Accruing | National Lending | Tax services    
Financing Receivable, Nonaccrual [Line Items]    
2024   5,082
2023   0
2022   0
2021   0
2020   0
Prior   0
Revolving Loans and Leases   0
Loans and leases   $ 5,082
v3.24.1.u1
LOANS AND LEASES, NET - Troubled Debt Restructured Loans (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2024
Mar. 31, 2023
National Lending | Commercial finance      
Financing Receivable, Troubled Debt Restructuring [Line Items]      
TDRs subsequent default, recorded investment $ 1.6 $ 1.6 $ 0.1
v3.24.1.u1
EARNINGS PER COMMON SHARE ("EPS") (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Basic income per common share:        
Net income attributable to Pathward Financial, Inc. $ 65,268 $ 54,771 $ 92,925 $ 82,613
Dividends and undistributed earnings allocated to participating securities (524) (841) (744) (1,231)
Basic net earnings available to common stockholders 64,744 53,930 92,181 81,382
Undistributed earnings allocated to nonvested restricted stockholders 514 820 724 1,190
Reallocation of undistributed earnings to nonvested restricted stockholders (514) (818) (724) (1,187)
Diluted net earnings available to common stockholders $ 64,744 $ 53,932 $ 92,181 $ 81,385
Total weighted average common shares outstanding (in shares) 25,281,743 27,078,048 25,529,186 27,555,197
Effect of dilutive securities        
Total effect of dilutive securities (in shares) 29,401 91,521 26,470 77,540
Weighted average dilutive common shares outstanding (in shares) 25,311,144 27,169,569 25,555,656 27,632,737
Net earnings per common share:        
Basic income per common share (in dollars per share) $ 2.56 $ 1.99 $ 3.61 $ 2.95
Diluted income per common share (in dollars per share) $ 2.56 $ 1.99 $ 3.61 $ 2.95
Weighted average shares of nonvested restricted stock, antidilutive (in shares) 204,877 422,461 206,060 417,012
Performance share units        
Effect of dilutive securities        
Outstanding options - based upon the two-class method (in shares) 29,401 91,521 26,470 77,540
v3.24.1.u1
RENTAL EQUIPMENT, NET - Schedule of Rental Equipment (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Sep. 30, 2023
Property, Plant and Equipment [Line Items]    
Total $ 331,596 $ 327,931
Accumulated depreciation (116,864) (117,418)
Unamortized initial direct costs 1,153 1,237
Net book value 215,885 211,750
Computers and IT networking equipment    
Property, Plant and Equipment [Line Items]    
Total 24,435 25,094
Motor vehicles and other    
Property, Plant and Equipment [Line Items]    
Total 135,158 122,845
Other furniture and equipment    
Property, Plant and Equipment [Line Items]    
Total 37,086 37,637
Solar panels and equipment    
Property, Plant and Equipment [Line Items]    
Total $ 134,917 $ 142,355
v3.24.1.u1
RENTAL EQUIPMENT, NET - Schedule of Operating Leases, Future Minimum Payments (Details)
$ in Thousands
Mar. 31, 2024
USD ($)
Property, Plant and Equipment [Abstract]  
Remaining in 2024 $ 22,318
2025 39,532
2026 29,630
2027 21,494
2028 12,248
Thereafter 11,693
Total $ 136,915
v3.24.1.u1
GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($)
 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]    
Total goodwill $ 309,505,000 $ 309,505,000
Goodwill, accumulated impairment 0  
Impairment expense $ 0 $ 0
v3.24.1.u1
GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Asses (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Finite-lived Intangible Assets [Roll Forward]        
Beginning Balance     $ 20,720 $ 25,691
Amortization during the period $ (1,240) $ (1,435) (2,224) (2,693)
Ending Balance 18,496 22,998 18,496 22,998
Gross carrying amount 99,451 109,133 99,451 109,133
Accumulated amortization (69,818) (74,999) (69,818) (74,999)
Accumulated impairment (11,137) (11,136) (11,137) (11,136)
Total anticipated intangible amortization 18,496 22,998 18,496 22,998
Trademark        
Finite-lived Intangible Assets [Roll Forward]        
Beginning Balance     7,477 8,605
Amortization during the period     (527) (609)
Ending Balance 6,950 7,996 6,950 7,996
Gross carrying amount 13,774 14,624 13,774 14,624
Accumulated amortization (6,824) (6,628) (6,824) (6,628)
Accumulated impairment 0 0 0 0
Total anticipated intangible amortization $ 6,950 7,996 $ 6,950 7,996
Trademark | Minimum        
Finite-lived Intangible Assets [Roll Forward]        
Useful life 5 years   5 years  
Trademark | Maximum        
Finite-lived Intangible Assets [Roll Forward]        
Useful life 15 years   15 years  
Non-Compete        
Finite-lived Intangible Assets [Roll Forward]        
Beginning Balance     $ 0 0
Amortization during the period     0 0
Ending Balance $ 0 0 0 0
Gross carrying amount 301 2,481 301 2,481
Accumulated amortization (301) (2,481) (301) (2,481)
Accumulated impairment 0 0 0 0
Total anticipated intangible amortization 0 0 0 0
Customer Relationships        
Finite-lived Intangible Assets [Roll Forward]        
Beginning Balance     9,110 12,395
Amortization during the period     (1,431) (1,819)
Ending Balance 7,679 10,576 7,679 10,576
Gross carrying amount 77,578 82,088 77,578 82,088
Accumulated amortization (58,981) (60,594) (58,981) (60,594)
Accumulated impairment (10,918) (10,918) (10,918) (10,918)
Total anticipated intangible amortization $ 7,679 10,576 $ 7,679 10,576
Customer Relationships | Minimum        
Finite-lived Intangible Assets [Roll Forward]        
Useful life 10 years   10 years  
Customer Relationships | Maximum        
Finite-lived Intangible Assets [Roll Forward]        
Useful life 30 years   30 years  
All Others        
Finite-lived Intangible Assets [Roll Forward]        
Beginning Balance     $ 4,133 4,691
Amortization during the period     (266) (265)
Ending Balance $ 3,867 4,426 3,867 4,426
Gross carrying amount 7,798 9,940 7,798 9,940
Accumulated amortization (3,712) (5,296) (3,712) (5,296)
Accumulated impairment (219) (218) (219) (218)
Total anticipated intangible amortization $ 3,867 $ 4,426 $ 3,867 $ 4,426
All Others | Minimum        
Finite-lived Intangible Assets [Roll Forward]        
Useful life 3 years   3 years  
All Others | Maximum        
Finite-lived Intangible Assets [Roll Forward]        
Useful life 20 years   20 years  
v3.24.1.u1
GOODWILL AND INTANGIBLE ASSETS - Schedule of Future Amortization (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]        
Remaining in 2024 $ 1,904      
2025 3,563      
2026 3,217      
2027 2,571      
2028 2,261      
Thereafter 4,980      
Total anticipated intangible amortization $ 18,496 $ 20,720 $ 22,998 $ 25,691
v3.24.1.u1
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES - Narrative (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Mar. 31, 2023
Leases [Abstract]    
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets
Operating lease, right-of-use asset $ 26,000 $ 26,900
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other liabilities Accrued expenses and other liabilities
Operating lease, liability $ 27,818 $ 28,800
v3.24.1.u1
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES - Lease Maturity (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Mar. 31, 2023
Leases [Abstract]    
Remaining in 2024 $ 2,132  
2025 3,985  
2026 3,435  
2027 3,152  
2028 3,095  
Thereafter 15,545  
Total undiscounted future minimum lease payments 31,344  
Discount (3,526)  
Total operating lease liabilities $ 27,818 $ 28,800
v3.24.1.u1
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES - Lease Cost (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Sep. 30, 2023
Leases [Abstract]          
Weighted-average discount rate 2.44%   2.44%   2.38%
Weighted-average remaining lease term (years) 9 years 1 month 9 days   9 years 1 month 9 days   9 years 7 months 28 days
Lease expense $ 992 $ 982 $ 2,017 $ 1,996  
Short-term and variable lease cost 30 42 23 84  
Sublease income (269) (339) (639) (672)  
Total lease cost for operating leases $ 753 $ 685 $ 1,401 $ 1,408  
v3.24.1.u1
STOCKHOLDERS' EQUITY (Details) - USD ($)
$ in Millions
 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Aug. 25, 2023
Sep. 03, 2021
Equity, Class of Treasury Stock [Line Items]        
Stock repurchased during the period (in shares) 122,452 59,626    
Stock repurchased during the period, value $ 5.8 $ 2.1    
Retired common stock held in treasury (in shares) 0 0    
Common Stock        
Equity, Class of Treasury Stock [Line Items]        
Shares authorized to be repurchased (in shares)       6,000,000
Additional shares authorized to be repurchased (in shares)     7,000,000  
Stock repurchased under repurchase program (in shares) 996,773 1,826,694    
Remaining number of shares authorized to be repurchased (in shares) 7,669,663      
v3.24.1.u1
STOCK COMPENSATION - Narrative (Details)
$ in Millions
 6 Months Ended
Mar. 31, 2024
USD ($)
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Period that options vest 8 years
Stock based compensation expense not yet recognized in income | $ $ 10.5
Weighted average remaining period for unrecognized stock based compensation (in years) 1 year 7 months 9 days
Restricted Shares  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Period that options vest 3 years
Restricted Shares | Director  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Period that options vest 1 year
Performance Share Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Period that options vest 3 years
Shares issuable upon vesting (in shares) | shares 1
Performance Share Units | Minimum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Payout levels percentage 50.00%
Performance Share Units | Maximum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Payout levels percentage 200.00%
v3.24.1.u1
STOCK COMPENSATION - Share Activity (Details) - $ / shares
 3 Months Ended 6 Months Ended
Dec. 31, 2021
Mar. 31, 2024
Number of Shares    
Granted (in shares) 60,984,000  
Restricted Shares    
Number of Shares    
Nonvested shares outstanding, beginning of period (in shares)   370,151
Granted (in shares)   177,317
Vested (in shares)   (277,447)
Forfeited or expired (in shares)   (6,428)
Nonvested shares outstanding, end of period (in shares)   263,593
Weighted Average Fair Value at Grant    
Nonvested shares outstanding, beginning of period (in dollars per share)   $ 35.87
Granted (in dollars per share)   49.53
Vested (in dollars per share)   39.33
Forfeited or expired (in dollars per share)   41.84
Nonvested shares outstanding, end of period (in dollars per share)   $ 41.27
Performance share units    
Number of Shares    
Nonvested shares outstanding, beginning of period (in shares)   155,804
Granted (in shares)   52,125
Vested (in shares)   (60,984)
Forfeited or expired (in shares)   0
Nonvested shares outstanding, end of period (in shares)   146,945
Weighted Average Fair Value at Grant    
Nonvested shares outstanding, beginning of period (in dollars per share)   $ 41.20
Granted (in dollars per share)   50.15
Vested (in dollars per share)   55.47
Forfeited or expired (in dollars per share)   0
Nonvested shares outstanding, end of period (in dollars per share)   $ 47.35
Target Performance Share Units    
Number of Shares    
Granted (in shares)   47,252,000
v3.24.1.u1
INCOME TAXES - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Income Tax Disclosure [Abstract]        
Income tax expense $ 15,246 $ 9,176 $ 20,965 $ 15,753
Effective tax rate     18.33% 15.83%
v3.24.1.u1
INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Income Tax Disclosure [Abstract]        
Provision at statutory rate     $ 23,917 $ 20,657
Tax-exempt income     (341) (398)
State income taxes     4,550 4,285
Interim period effective rate adjustment     4,581 (483)
Tax credit investments, net - federal     (11,363) (7,916)
Research tax credit     0 (805)
IRC 162(m) nondeductible compensation     340 576
Other, net     (719) (163)
Income tax expense $ 15,246 $ 9,176 $ 20,965 $ 15,753
Effective tax rate     18.33% 15.83%
v3.24.1.u1
REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Revenue by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Disaggregation of Revenue [Line Items]        
Net interest income $ 118,301 $ 101,405 $ 228,337 $ 185,462
Net realized (gain) on trademarks 0 0 0 10,000
Gain (loss) on sale of other 1,695 (666) 4,535 (164)
Other income 6,044 4,477 11,223 8,032
Noninterest income 128,945 127,038 181,706 192,815
Revenue 247,246 228,443 410,043 378,277
Refund transfer product fees        
Disaggregation of Revenue [Line Items]        
Noninterest income: 28,942 30,205 29,364 30,882
Refund advance fee income        
Disaggregation of Revenue [Line Items]        
Noninterest income: 43,200 37,995 43,311 38,612
Card and deposit fees        
Disaggregation of Revenue [Line Items]        
Noninterest income: 35,344 42,087 66,094 79,805
Rental income        
Disaggregation of Revenue [Line Items]        
Noninterest income: 13,720 12,940 27,179 25,648
Consumer        
Disaggregation of Revenue [Line Items]        
Net interest income 56,527 41,418 115,883 75,690
Net realized (gain) on trademarks     0 0
Gain (loss) on sale of other 16 0 (15) 0
Other income 2,432 1,748 4,210 2,541
Noninterest income 109,687 111,776 142,474 151,315
Revenue 166,214 153,194 258,357 227,005
Consumer | Refund transfer product fees        
Disaggregation of Revenue [Line Items]        
Noninterest income: 28,942 30,205 29,364 30,882
Consumer | Refund advance fee income        
Disaggregation of Revenue [Line Items]        
Noninterest income: 43,200 37,995 43,311 38,612
Consumer | Card and deposit fees        
Disaggregation of Revenue [Line Items]        
Noninterest income: 35,097 41,828 65,604 79,280
Consumer | Rental income        
Disaggregation of Revenue [Line Items]        
Noninterest income: 0 0 0 0
Commercial        
Disaggregation of Revenue [Line Items]        
Net interest income 44,913 46,758 90,794 89,082
Net realized (gain) on trademarks     0 0
Gain (loss) on sale of other 1,607 (748) 1,969 (246)
Other income 2,307 1,935 4,473 3,019
Noninterest income 17,749 14,176 33,748 28,538
Revenue 62,662 60,934 124,542 117,620
Commercial | Refund transfer product fees        
Disaggregation of Revenue [Line Items]        
Noninterest income: 0 0 0 0
Commercial | Refund advance fee income        
Disaggregation of Revenue [Line Items]        
Noninterest income: 0 0 0 0
Commercial | Card and deposit fees        
Disaggregation of Revenue [Line Items]        
Noninterest income: 241 252 477 513
Commercial | Rental income        
Disaggregation of Revenue [Line Items]        
Noninterest income: 13,594 12,737 26,829 25,252
Corporate Services/Other        
Disaggregation of Revenue [Line Items]        
Net interest income 16,861 13,229 21,660 20,690
Net realized (gain) on trademarks     0 10,000
Gain (loss) on sale of other 72 82 2,581 82
Other income 1,305 794 2,540 2,472
Noninterest income 1,509 1,086 5,484 12,962
Revenue 18,370 14,315 27,144 33,652
Corporate Services/Other | Refund transfer product fees        
Disaggregation of Revenue [Line Items]        
Noninterest income: 0 0 0 0
Corporate Services/Other | Refund advance fee income        
Disaggregation of Revenue [Line Items]        
Noninterest income: 0 0 0 0
Corporate Services/Other | Card and deposit fees        
Disaggregation of Revenue [Line Items]        
Noninterest income: 6 7 13 12
Corporate Services/Other | Rental income        
Disaggregation of Revenue [Line Items]        
Noninterest income: $ 126 $ 203 $ 350 $ 396
v3.24.1.u1
SEGMENT REPORTING (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Mar. 31, 2024
USD ($)
segment
Mar. 31, 2023
USD ($)
Sep. 30, 2023
USD ($)
Segment Reporting Information [Line Items]          
Number of reportable segments | segment     3    
Segment data [Abstract]          
Net interest income $ 118,301 $ 101,405 $ 228,337 $ 185,462  
Provision for credit loss 26,052 36,763 35,942 46,539  
Noninterest income 128,945 127,038 181,706 192,815  
Noninterest expense 140,431 127,136 259,705 232,195  
Income before income tax expense 80,763 64,544 114,396 99,543  
Total assets 7,437,117 6,868,256 7,437,117 6,868,256 $ 7,535,543
Total goodwill 309,505 309,505 309,505 309,505  
Total deposits 6,368,344 5,902,696 6,368,344 5,902,696  
Consumer          
Segment data [Abstract]          
Net interest income 56,527 41,418 115,883 75,690  
Provision for credit loss 25,452 31,654 28,906 34,894  
Noninterest income 109,687 111,776 142,474 151,315  
Noninterest expense 59,452 49,910 109,465 84,404  
Income before income tax expense 81,310 71,630 119,986 107,707  
Total assets 493,718 361,528 493,718 361,528  
Total goodwill 87,145 87,145 87,145 87,145  
Total deposits 6,063,339 5,744,278 6,063,339 5,744,278  
Commercial          
Segment data [Abstract]          
Net interest income 44,913 46,758 90,794 89,082  
Provision for credit loss 555 5,012 7,018 11,595  
Noninterest income 17,749 14,176 33,748 28,538  
Noninterest expense 38,130 38,846 72,986 71,595  
Income before income tax expense 23,977 17,076 44,538 34,430  
Total assets 4,124,909 3,581,677 4,124,909 3,581,677  
Total goodwill 222,360 222,360 222,360 222,360  
Total deposits 7,143 9,313 7,143 9,313  
Corporate Services/Other          
Segment data [Abstract]          
Net interest income 16,861 13,229 21,660 20,690  
Provision for credit loss 45 97 18 50  
Noninterest income 1,509 1,086 5,484 12,962  
Noninterest expense 42,849 38,380 77,254 76,196  
Income before income tax expense (24,524) (24,162) (50,128) (42,594)  
Total assets 2,818,490 2,925,051 2,818,490 2,925,051  
Total goodwill 0 0 0 0  
Total deposits $ 297,862 $ 149,105 $ 297,862 $ 149,105  
v3.24.1.u1
FAIR VALUE OF FINANCIAL INSTRUMENTS - Assets Measured at Fair Value on Recurring and Non-recurring Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Sep. 30, 2023
Level 1    
Available-for-sale debt securities [Abstract]    
Total debt securities AFS $ 0 $ 0
Common equities and mutual funds 4,334 3,378
Level 2    
Available-for-sale debt securities [Abstract]    
Total debt securities AFS 1,779,458 1,804,228
Common equities and mutual funds 0 0
Level 3    
Available-for-sale debt securities [Abstract]    
Total debt securities AFS 0 0
Common equities and mutual funds 0 0
Recurring    
Available-for-sale debt securities [Abstract]    
Corporate securities 18,125 18,250
SBA securities 84,797 85,242
Obligations of states and political subdivisions 507 2,289
Non-bank qualified obligations of states and political subdivisions 222,669 226,723
Asset-backed securities 223,414 246,199
Mortgage-backed securities 1,229,946 1,225,525
Total debt securities AFS 1,779,458 1,804,228
Common equities and mutual funds 4,334 3,378
Non-marketable equity securities 10,000 8,389
Recurring | Level 1    
Available-for-sale debt securities [Abstract]    
Corporate securities 0 0
SBA securities 0 0
Obligations of states and political subdivisions 0 0
Non-bank qualified obligations of states and political subdivisions 0 0
Asset-backed securities 0 0
Mortgage-backed securities 0 0
Total debt securities AFS 0 0
Common equities and mutual funds 4,334 3,378
Non-marketable equity securities 0 0
Recurring | Level 2    
Available-for-sale debt securities [Abstract]    
Corporate securities 18,125 18,250
SBA securities 84,797 85,242
Obligations of states and political subdivisions 507 2,289
Non-bank qualified obligations of states and political subdivisions 222,669 226,723
Asset-backed securities 223,414 246,199
Mortgage-backed securities 1,229,946 1,225,525
Total debt securities AFS 1,779,458 1,804,228
Common equities and mutual funds 0 0
Non-marketable equity securities 0 0
Recurring | Level 3    
Available-for-sale debt securities [Abstract]    
Corporate securities 0 0
SBA securities 0 0
Obligations of states and political subdivisions 0 0
Non-bank qualified obligations of states and political subdivisions 0 0
Asset-backed securities 0 0
Mortgage-backed securities 0 0
Total debt securities AFS 0 0
Common equities and mutual funds 0 0
Non-marketable equity securities $ 0 $ 0
v3.24.1.u1
FAIR VALUE OF FINANCIAL INSTRUMENTS - Quantitative Information (Details) - USD ($)
$ in Thousands
 6 Months Ended
Mar. 31, 2024
Sep. 30, 2023
Minimum    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Range of estimated selling cost (percentage) 3.00%  
Maximum    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Range of estimated selling cost (percentage) 44.00%  
Level 1    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value $ 0 $ 0
Level 2    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 4,339,150 4,223,010
Total loans and leases, net individually evaluated for credit loss | Level 3 | Valuation, Market Approach    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value $ 9,234 21,829
Total loans and leases, net individually evaluated for credit loss | Level 3 | Valuation, Market Approach | Minimum    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Range of estimated selling cost (percentage) 3.00%  
Total loans and leases, net individually evaluated for credit loss | Level 3 | Valuation, Market Approach | Maximum    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Range of estimated selling cost (percentage) 44.00%  
Nonrecurring    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value $ 9,234 21,829
Nonrecurring | Level 1    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Level 2    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 9,234 21,829
Nonrecurring | Commercial finance    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 9,234 21,829
Nonrecurring | Commercial finance | Level 1    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Commercial finance | Level 2    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Commercial finance | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 9,234 21,829
Nonrecurring | Total loans and leases, net individually evaluated for credit loss    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 9,234 21,829
Nonrecurring | Total loans and leases, net individually evaluated for credit loss | Level 1    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Total loans and leases, net individually evaluated for credit loss | Level 2    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Total loans and leases, net individually evaluated for credit loss | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value $ 9,234 $ 21,829
v3.24.1.u1
FAIR VALUE OF FINANCIAL INSTRUMENTS - Balance Sheet Grouping (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Sep. 30, 2023
Financial assets    
Debt securities held to maturity $ 31,113 $ 31,425
Level 1    
Financial assets    
Cash and cash equivalents 347,888 375,580
Debt securities available for sale 0 0
Debt securities held to maturity 0 0
Common equities and mutual funds 4,334 3,378
Non-marketable equity securities 0 0
Loans held for sale 0 0
Loans and leases 0 0
Federal Reserve Bank and Federal Home Loan Bank stocks 0 0
Accrued interest receivable 30,294 23,282
Financial liabilities    
Deposits 6,267,603 6,583,648
Overnight federal funds purchased 31,000 13,000
Other short- and long-term borrowings 0 0
Accrued interest payable 1,961 247
Level 2    
Financial assets    
Cash and cash equivalents 0 0
Debt securities available for sale 1,779,458 1,804,228
Debt securities held to maturity 31,113 31,425
Common equities and mutual funds 0 0
Non-marketable equity securities 10,522 12,064
Loans held for sale 25,946 77,779
Loans and leases 0 0
Federal Reserve Bank and Federal Home Loan Bank stocks 25,844 28,210
Accrued interest receivable 0 0
Financial liabilities    
Deposits 100,455 5,417
Overnight federal funds purchased 0 0
Other short- and long-term borrowings 31,297 31,187
Accrued interest payable 0 0
Level 3    
Financial assets    
Cash and cash equivalents 0 0
Debt securities available for sale 0 0
Debt securities held to maturity 0 0
Common equities and mutual funds 0 0
Non-marketable equity securities 0 0
Loans held for sale 0 0
Loans and leases 4,339,150 4,223,010
Federal Reserve Bank and Federal Home Loan Bank stocks 0 0
Accrued interest receivable 0 0
Financial liabilities    
Deposits 0 0
Overnight federal funds purchased 0 0
Other short- and long-term borrowings 0 0
Accrued interest payable 0 0
Carrying Amount    
Financial assets    
Cash and cash equivalents 347,888 375,580
Debt securities available for sale 1,779,458 1,804,228
Debt securities held to maturity 34,682 36,591
Common equities and mutual funds 4,334 3,378
Non-marketable equity securities 20,522 20,453
Loans held for sale 25,946 77,779
Loans and leases 4,402,408 4,359,681
Federal Reserve Bank and Federal Home Loan Bank stocks 25,844 28,210
Accrued interest receivable 30,294 23,282
Financial liabilities    
Deposits 6,368,344 6,589,182
Overnight federal funds purchased 31,000 13,000
Other short- and long-term borrowings 33,373 33,873
Accrued interest payable 1,961 247
Estimated Fair Value    
Financial assets    
Cash and cash equivalents 347,888 375,580
Debt securities available for sale 1,779,458 1,804,228
Debt securities held to maturity 31,113 31,425
Common equities and mutual funds 4,334 3,378
Non-marketable equity securities 20,522 20,453
Loans held for sale 25,946 77,779
Loans and leases 4,339,150 4,223,010
Federal Reserve Bank and Federal Home Loan Bank stocks 25,844 28,210
Accrued interest receivable 30,294 23,282
Financial liabilities    
Deposits 6,368,058 6,589,065
Overnight federal funds purchased 31,000 13,000
Other short- and long-term borrowings 31,297 31,187
Accrued interest payable $ 1,961 $ 247