PATHWARD FINANCIAL, INC., 10-K filed on 11/25/2025
Annual Report
v3.25.3
Cover Page - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2025
Nov. 19, 2025
Mar. 31, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Sep. 30, 2025    
Current Fiscal Year End Date --09-30    
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 Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
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    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 1,700
Entity Common Stock, Shares Outstanding (in shares)   22,339,006  
Documents Incorporated by Reference
DOCUMENTS INCORPORATED BY REFERENCE
 
PART III of Form 10-K -- Portions of the Proxy Statement for the Annual Meeting of Stockholders expected to be held February 24, 2026 are incorporated by reference into Part III of this report.
    
Entity Central Index Key 0000907471    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.25.3
Audit Information
 12 Months Ended
Sep. 30, 2025
Audit Information [Abstract]  
Auditor Name Crowe LLP
Auditor Firm ID 173
Auditor Location Chicago, Illinois
v3.25.3
Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
ASSETS    
Cash and cash equivalents $ 120,568 $ 158,337
Securities available for sale, at fair value 1,327,843 1,741,221
Securities held to maturity, at amortized cost (fair value $25,653 and $30,236, respectively) 29,308 33,092
Federal Reserve Bank and Federal Home Loan Bank Stock, at cost 24,708 36,014
Loans held for sale 179,421 691,688
Loans and leases 4,664,908 4,075,195
Allowance for credit losses (53,319) (71,765)
Accrued interest receivable 38,520 31,385
Premises, furniture, and equipment, net 40,632 39,055
Rental equipment, net 159,446 205,339
Goodwill and intangible assets 310,430 326,094
Other assets 329,879 266,362
Total assets 7,172,344 7,532,017
LIABILITIES    
Deposits 5,886,947 5,875,085
Short-term borrowings 9,000 377,000
Long-term borrowings 33,456 33,354
Accrued expenses and other liabilities 385,487 424,389
Total liabilities 6,314,890 6,709,828
STOCKHOLDERS’ EQUITY    
Preferred stock, 3,000,000 shares authorized, no shares issued, none outstanding at September 30, 2025 and 2024, respectively 0 0
Additional paid-in capital 648,330 638,803
Retained earnings 359,830 337,058
Accumulated other comprehensive loss (145,461) (153,394)
Treasury stock, at cost, 70,215 and 3,769 common shares at September 30, 2025 and 2024, respectively (4,882) (249)
Total equity attributable to parent 858,045 822,466
Noncontrolling interest (591) (277)
Total stockholders’ equity 857,454 822,189
Total liabilities and stockholders’ equity 7,172,344 7,532,017
Common stock, $0.01 par value; 90,000,000 shares authorized, 22,842,785 and 24,851,122 shares issued, 22,772,570 and 24,847,353 shares outstanding at September 30, 2025 and 2024, respectively    
STOCKHOLDERS’ EQUITY    
Common stock 228 248
Common stock, Nonvoting, $0.01 par value; 3,000,000 shares authorized, no shares issued, none outstanding at September 30, 2025 and 2024, respectively    
STOCKHOLDERS’ EQUITY    
Common stock $ 0 $ 0
v3.25.3
Consolidated Statements of Financial Condition (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
STOCKHOLDERS’ EQUITY    
Investment securities held to maturity, fair value $ 25,653 $ 30,236
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) 70,215 3,769
Common stock, $0.01 par value; 90,000,000 shares authorized, 22,842,785 and 24,851,122 shares issued, 22,772,570 and 24,847,353 shares outstanding at September 30, 2025 and 2024, respectively    
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) 22,842,785 24,851,122
Common stock, shares outstanding (in shares) 22,772,570 24,847,353
Common stock, Nonvoting, $0.01 par value; 3,000,000 shares authorized, no shares issued, none outstanding at September 30, 2025 and 2024, respectively    
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
v3.25.3
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Interest and dividend income:      
Loans and leases, including fees $ 455,816 $ 438,583 $ 346,817
Mortgage-backed securities 34,052 39,402 41,197
Other investments 33,524 41,073 33,936
Total interest and dividend income 523,392 519,058 421,950
Interest expense:      
Deposits 5,430 13,019 4,356
FHLB advances and other borrowings 6,168 8,214 6,518
Total interest expense 11,598 21,233 10,874
Net interest income 511,794 497,825 411,076
Provision for credit loss 56,774 58,101 109,242
Net interest income after provision for credit loss 455,020 439,724 301,834
Noninterest income:      
(Loss) on sale of securities (25,084) 0 0
Gain on divestitures 15,044 0 0
Gain on sale of trademarks 0 0 10,000
Secondary market revenue 37,022 5,920 412
Gain on sale of other 5,151 6,749 2,251
Other income 26,625 23,167 22,115
Total noninterest income 328,100 299,587 316,599
Noninterest expense:      
Compensation and benefits 200,495 201,472 184,318
Refund transfer product expense 11,534 9,862 9,723
Refund advance expense 1,241 1,943 1,863
Card processing 138,443 137,938 105,498
Building and software 42,094 36,587 34,691
Operating lease equipment depreciation 45,636 41,757 45,710
Legal and consulting 36,469 24,857 27,102
Intangible amortization 3,456 4,131 4,971
Impairment expense 5,915 3,012 3,273
Other expense 74,784 59,132 46,239
Total noninterest expense 560,067 520,691 463,388
Income before income tax expense 223,053 218,620 155,045
Income tax expense 36,266 34,108 9,587
Net income before noncontrolling interest 186,787 184,512 145,458
Net income attributable to noncontrolling interest 915 1,293 2,192
Net income attributable to parent $ 185,872 $ 183,219 $ 143,266
Earnings per common share:      
Basic (in dollars per share) $ 7.91 $ 7.21 $ 5.26
Diluted (in dollars per share) $ 7.87 $ 7.20 $ 5.24
Refund transfer fees      
Noninterest income:      
Noninterest income: $ 43,980 $ 40,178 $ 39,452
Refund advance and other tax fee income      
Noninterest income:      
Noninterest income: 48,705 43,473 37,433
Card and deposit fees      
Noninterest income:      
Noninterest income: 124,971 125,943 150,746
Rental income      
Noninterest income:      
Noninterest income: $ 51,686 $ 54,157 $ 54,190
v3.25.3
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]      
Net income before noncontrolling interest $ 186,787 $ 184,512 $ 145,458
Other comprehensive income (loss):      
Change in net unrealized gain (loss) on debt securities (12,293) 136,028 (56,255)
Net loss realized on debt securities (25,084) 0 0
Other comprehensive income (loss), investments 12,791 136,028 (56,255)
Unrealized gain (loss) on currency translation (1,205) 81 331
Deferred income tax effect 3,653 34,060 (13,561)
Total other comprehensive income (loss) 7,933 102,049 (42,363)
Total comprehensive income 194,720 286,561 103,095
Total comprehensive income attributable to noncontrolling interest 915 1,293 2,192
Comprehensive income attributable to parent $ 193,805 $ 285,268 $ 100,903
v3.25.3
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 $ 633,211 $ 633,241 $ 288 $ 617,403 $ 233,465 $ (213,080) $ (4,835) $ (30)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Cash dividends declared on common stock (5,426) (5,426)     (5,426)      
Issuance of common stock due to restricted stock 1 1 1          
Repurchases of common stock (120,437) (120,437) (27) 27 (117,985)   (2,452)  
Retirement of treasury stock 0       (6,943)   6,943  
Stock compensation 11,070 11,070   11,070        
Total other comprehensive (loss) income (42,363) (42,363)       (42,363)    
Net income 145,458 143,266     143,266     2,192
Net distribution to noncontrolling interest (3,167)             (3,167)
Ending Balance at Sep. 30, 2023 618,347 619,352 262 628,500 246,377 (255,443) (344) (1,005)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Cash dividends declared on common stock (5,067) (5,067)     (5,067)      
Issuance of common stock due to restricted stock 3 3 3          
Repurchases of common stock (86,853) (86,853) (17) 17 (80,767)   (6,086)  
Retirement of treasury stock 0       (6,181)   6,181  
Stock compensation 10,286 10,286   10,286        
Total other comprehensive (loss) income 102,049 102,049       102,049    
Joint venture membership interest divestiture (523) (523)     (523)      
Net income 184,512 183,219     183,219     1,293
Net distribution to noncontrolling interest (565)             (565)
Ending Balance at Sep. 30, 2024 822,189 822,466 248 638,803 337,058 (153,394) (249) (277)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Cash dividends declared on common stock (4,686) (4,686)     (4,686)      
Repurchases of common stock (163,047) (163,047) (20) 20 (158,414)   (4,633)  
Stock compensation 9,507 9,507   9,507        
Total other comprehensive (loss) income 7,933 7,933       7,933    
Net income 186,787 185,872     185,872     915
Net distribution to noncontrolling interest (1,229)             (1,229)
Ending Balance at Sep. 30, 2025 $ 857,454 $ 858,045 $ 228 $ 648,330 $ 359,830 $ (145,461) $ (4,882) $ (591)
v3.25.3
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares
 3 Months Ended 12 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]                              
Cash dividends declared on common stock (in dollars per share) $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.20 $ 0.20 $ 0.20
v3.25.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:      
Net income before noncontrolling interest $ 186,787 $ 184,512 $ 145,458
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 59,725 57,765 64,955
Provision for credit loss 56,774 58,101 109,242
Provision for (reversal of) deferred taxes 16,799 16,166 (7,140)
Originations of loans held for sale (2,497,787) (2,034,977) (1,208,684)
Proceeds from sales of loans held for sale 2,767,616 2,036,084 1,139,881
Net change in loans held for sale 3,620 18,127 25,922
Net realized (gain) on loans held for sale (37,022) (5,920) (268)
Net realized loss (gain) on securities available for sale 25,084 0 0
Net realized (gain) on divestitures (15,044) 0 0
Net realized loss on premise, furniture, and equipment 0 0 65
Net realized (gain) on trademarks 0 0 (10,000)
Net realized (gain) on other (5,151) (6,749) (1,832)
Change in bank-owned life insurance value (2,859) (2,751) (1,497)
Impairment on rental equipment 2,915 2,013 24
Net change in accrued interest receivable (7,135) (8,103) (5,303)
Net change in other assets (79,568) (11,793) 17,244
Net change in accrued expenses and other liabilities (33,642) 176,044 48,776
Stock compensation 9,507 10,286 11,070
Net cash provided by operating activities 450,619 488,805 327,913
Cash flows from investing activities:      
Purchases of securities available for sale (2,280) (3,465) (156,885)
Proceeds from sales of securities available for sale 239,322 0 0
Proceeds from maturities of and principal collected on securities available for sale 163,805 201,730 177,296
Proceeds from maturities of and principal collected on securities held to maturity 3,594 3,317 4,835
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock (291,860) (406,390) (330,144)
Redemption of Federal Reserve Bank and Federal Home Loan Bank stock 303,167 398,587 330,746
Purchases of loans and leases (226,228) (298,262) (215,266)
Net change in loans and leases (733,046) 102,272 (332,275)
Purchases of premises, furniture, and equipment (11,678) (10,141) (8,623)
Purchases of rental equipment (202,347) (266,613) (441,047)
Proceeds from sales of rental equipment 27,569 9,006 14,998
Net change in rental equipment 741 565 (236)
Proceeds from sales of foreclosed real estate and repossessed assets 0 0 1
Proceeds from death benefit of bank-owned life insurance 0 0 1,040
Proceeds from divestitures, net of transaction costs 608,455 0 0
Proceeds from sale of trademarks 0 0 10,000
Proceeds from sale of other assets 471 6,465 0
Proceeds from loans held for sale previously classified as portfolio loans 146,158 0 0
Net cash provided by (used in) investing activities 25,843 (262,929) (945,560)
Cash flows from financing activities:      
Net change in deposits 23,936 (714,097) 723,145
Net change in short-term borrowings (368,000) 364,000 13,000
Principal payments on other liabilities 0 (621) (1,747)
Payment of debt issuance costs 0 0 (511)
Dividends paid on common stock (4,686) (5,067) (5,426)
Issuance of common stock due to restricted stock 0 3 1
Repurchases of common stock (163,047) (86,853) (120,437)
Investment by (distributions to) noncontrolling interest (1,229) (565) (3,167)
Net cash provided by (used in) financing activities (513,026) (443,200) 604,858
Effect of exchange rate changes on cash (1,205) 81 331
Net change in cash and cash equivalents (37,769) (217,243) (12,458)
Cash and cash equivalents at beginning of fiscal year 158,337 375,580 388,038
Cash and cash equivalents at end of fiscal period 120,568 158,337 375,580
Supplemental disclosure of cash flow information:      
Interest 11,981 20,909 10,819
Income taxes 18,384 19,633 14,056
Franchise and other taxes 670 726 1,359
Supplemental schedule of non-cash investing activities:      
Held for sale to loans and leases 0 30,864 158
Loans and leases to held for sale 462,190 597,177 13,421
Loans and leases to rental equipment 4,490 4,847 3,122
Rental equipment to loan and leases 180,015 225,870 377,250
Recognition of operating lease ROU assets, net of measurements 2,515 654 0
Retirement of treasury stock $ 0 $ 6,181 $ 6,943
v3.25.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
PRINCIPLES OF CONSOLIDATION
The Consolidated Financial Statements include the accounts of Pathward Financial, Inc. ("Pathward Financial" or the “Company” or "us"), a registered bank holding company located in Sioux Falls, South Dakota, and its wholly-owned subsidiaries. The Company's subsidiaries include Pathward®, National Association ("Pathward®, N.A." or "Pathward" or the “Bank”), a national bank whose primary federal regulator is the Office of the Comptroller of the Currency (the "OCC"), and Pathward Venture Capital, LLC, a wholly-owned service corporation subsidiary of Pathward, N.A. which invests in companies in the financial services industry. All significant intercompany balances and transactions have been eliminated. The Company also owns 100% of First Midwest Financial Capital Trust I (the “Trust”), which was formed in July 2001 for the purpose of issuing trust preferred securities, and Crestmark Capital Trust I, which was acquired from the Crestmark Acquisition in August 2018. The Trust and Crestmark Capital Trust I are not included in the Consolidated Financial Statements of the Company.

In addition, the Company is a variable interest holder in certain entities in which the equity holders do not have the characteristics of a controlling financial interest or where the entity does not have enough equity at risk to finance its activities without additional subordinated financial support (referred to as variable interest entities or "VIEs"). The Company's variable interest arises from contractual ownership or other monetary interests that change with fluctuations in the VIE's net asset value. The primary beneficiary is the entity which has both: (1) the power to direct the activities of the VIE that most significantly impacts the VIE's economic performance, and (2) the obligation to absorb losses or receive benefits of the entity that could potentially be significant to the VIE. To determine whether or not a variable interest the Company holds could potentially be significant to the VIE, the Company considers both qualitative and quantitative factors regarding the nature, size and form of the Company's involvement with the VIE. Further, the Company assesses whether or not the Company is the primary beneficiary of a VIE on an ongoing basis. If the determination is made that the Company is the primary beneficiary, then that entity is included in the Consolidated Financial Statements.

Noncontrolling interests represent the portion of net income and equity attributable to third-party owners of consolidated subsidiaries that are not wholly-owned by Pathward Financial. All of the Company's noncontrolling interests relate to the Company's Commercial Finance business line.

Variable Interest Entities
As a result of the Crestmark Acquisition, the Company acquired existing membership interests of certain joint venture limited liability companies (the "LLCs"). The Company holds 80% of the membership interests in each of the LLC entities, which offer commercial lending and other financing arrangements. In connection with these LLCs, the Company exclusively provides funding for each entity's activities. The Company determined it is the primary beneficiary of all LLCs as it has the managing power under the terms of each of the LLC operating agreements. Results of the LLCs are reflected in the Company's September 30, 2025 Consolidated Financial Statements and are summarized below. The assets recognized as a result of consolidating the LLCs are the property of the LLCs and are not available for any other purpose.

(Dollars in thousands)September 30, 2025
Cash and cash equivalents$222 
Loans and leases43,662 
Allowance for credit losses(1,048)
Accrued interest receivable145 
Other assets991 
Total assets43,972 
Accrued expenses and other liabilities310 
Noncontrolling interest(591)
Net assets less noncontrolling assets$44,253 
Amounts for noncontrolling interests reflect the proportionate share of membership interest (equity) and net income attributable to the holders of minority membership interest in the following entities:

•CM Help, LLC - CM Help provides flexible patient loan programs to hospitals and patient customers of hospitals as a financing alternative for the self-pay and co-pay portions of patients’ hospital expenses.

•CM Southgate II, LLC - CM Southgate II engages in the business of acquiring fleet leases and semi-trailer/tractor loans and leases.

•CM TFS, LLC - CM TFS engages in the business of acquiring equipment financing term loans and leases.

In the normal course of business, the Company enters into off-balance sheet transactions with SPEs, which can be structured as corporations, trusts, limited liability companies, or partnerships and are established for a limited purpose. Currently, the Company utilizes a SPE facility for certain term lending products within the Company's Commercial Finance business line. The Company participated in the structuring of the SPE, has a minority ownership interest in the SPE, and acts as servicer for the SPE in exchange for a servicing fee. Pathward is not the primary beneficiary of the SPE as our risk of loss or right to benefits from the SPE are not significant. At September 30, 2025, there are $25.8 million commercial term loans held at the SPE compared to $18.4 million for the prior fiscal year, and the Company’s equity investment in the SPE is $2.3 million compared to $5.8 million for the prior fiscal year. The Company’s maximum exposure to loss from the SPE is limited to its equity investment. At September 30, 2025 and 2024, there were no and $4.6 million commercial term loans classified as held for sale related to this SPE, respectively.

NATURE OF BUSINESS AND INDUSTRY SEGMENT INFORMATION
One of the Company's primary sources of revenue relates to payment processing services for prepaid cards, ATM sponsorship, tax refund transfer and money movement. Additionally, a significant source of revenue for the Company is interest from the purchase or origination of commercial finance loans, consumer finance loans, and warehouse finance loans. The Company accepts deposits from customers in the normal course of business on a national basis through its partner solutions and tax services divisions, and through wholesale funding. The Company operates in the banking industry, which accounts for the majority of its revenues and assets. The Company uses the “management approach” for reporting information about segments in annual and interim financial statements. The management approach is based on the way the chief operating decision-maker organizes segments within a company for making operating decisions and assessing performance. Reportable segments are based on products and services, geography, legal structure, management structure and any other manner in which management disaggregates a company. Based on the management approach model, the Company has determined that its business is comprised of three reporting segments. See Note 17. Segment Reporting for additional information on the Company's segment reporting.

RECLASSIFICATION AND REVISION OF PRIOR PERIOD BALANCES
Certain prior 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, the Company began using "Secondary Market Revenue" on the Condensed Consolidated Statement of Operations beginning with the interim period ending March 31, 2025 versus the previous caption of "Gain (Loss) on Sale of Loans and Leases". This line item exclusively comprises gains or losses realized from the sale of loans and leases, including any adjustments to record loans held for sale at the lower of amortized cost basis or fair value in accordance with ASC 860-20-50-5. There were no reclassifications of fiscal year amounts or prior period amounts as a result of this change in financial statement caption description.

USE OF ESTIMATES IN PREPARING FINANCIAL STATEMENTS
The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Certain significant estimates include the valuation of residual values within lease receivables, allowance for credit losses, the valuation of goodwill and intangible assets, Consumer Loan Program derivatives and the fair values of securities and other financial instruments. These estimates are reviewed by management regularly; however, they are particularly susceptible to significant changes in the future.
CASH AND CASH EQUIVALENTS
For purposes of reporting cash flows, cash and cash equivalents is defined to include the Company’s cash on hand and due from financial institutions and short-term interest-bearing deposits in other financial institutions. The Company reports cash flows net for customer loan transactions, securities purchased under agreement to resell, federal funds purchased, deposit transactions, securities sold under agreements to repurchase, and FHLB advances with terms less than 90 days. Previously, the FRB required all depository institutions to maintain reserves at specified levels against their transaction accounts, primarily checking accounts. However, since March 26, 2020, the reserve requirement ratio has been zero percent. At September 30, 2025, the Bank was not required to maintain any reserve balances. The Company at times maintains balances in excess of insured limits at various financial institutions including the FRB, the FHLB and other private institutions. At September 30, 2025, the Company had $94.6 million in interest-bearing deposits held at the FRB and $1.4 million interest-bearing deposits held at the FHLB. The Company does not believe these instruments carry a significant risk of loss but cannot provide assurances that no losses could occur if these institutions were to become insolvent.

SECURITIES
GAAP requires that, at acquisition, an enterprise classify debt securities into one of three categories: Available for Sale (“AFS”), Held to Maturity (“HTM”) or trading. Debt securities AFS are carried at fair value on the Consolidated Statements of Financial Condition. Unrealized holding gains and losses due to risk of credit loss are recognized in earnings while unrealized holding gains and losses due to market conditions and other non-credit risk factors are excluded from earnings and recognized as a separate component of equity in accumulated other comprehensive income (loss) (“AOCI”). See Note 20. Fair Values of Financial Instruments for additional information on fair value of AFS debt securities. Debt securities HTM are measured at amortized cost. The Company classifies the majority of its debt securities as AFS, which are those the Company may decide to sell if needed for liquidity, asset/liability management, or other reasons. Both AFS and HTM are subject to an allowance for credit losses. Pathward Financial did not hold trading securities at September 30, 2025 or 2024.

Gains and losses on the sale of securities are determined using the specific identification method based on amortized cost and are reflected in results of operations at the time of sale. Interest and dividend income, adjusted by amortization of purchase premium or discount using the level yield method, is included in income as earned. For callable debt securities, any purchase premium is amortized to the first call date while any discount is accreted over the contractual life of the security.

Debt Securities Credit Losses
The Company evaluates debt securities AFS for credit losses on a quarterly basis and records any such losses as a component of provision for credit loss in the Consolidated Statements of Operations. The Company has concluded that any unrealized holding losses in its portfolio as of September 30, 2025 are not related to credit loss and as a result has not recorded an allowance for credit losses. See Note 3. Securities for further information.

The Company evaluates debt securities HTM for credit losses on a quarterly basis and records any such losses as a component of provision for credit loss in the Consolidated Statements of Operations. The Company has concluded that its portfolio as of September 30, 2025 has a zero risk of credit loss due to the related U.S. Government financial guarantees underlying the securities within the HTM portfolio and as a result has not recorded an allowance for credit losses.

Equity Investments
The Company holds marketable equity securities, which have readily determinable fair value, and include common equity and mutual funds. These securities are recorded at fair value with unrealized gains and losses, due to changes in fair value, reflected in earnings. Interest and dividend income from these securities is recognized in interest income. See Note 3. Securities for additional information on marketable equity securities.
The Company also holds non-marketable equity securities that are included in Other Assets in the Company’s Consolidated Financial Statements. The Company generally accounts for these investments under the equity method or the provisions of Accounting Standards Codification ("ASC") 321. Equity Securities. Investments where the Company has significant influence, but not control, over the investee are accounted for under the equity method. Investments where the Company cannot exercise significant influence over the investee are measured at fair value, with changes in fair value recognized in earnings, unless those investments have no readily determinable fair value. Investments without readily determinable fair value are measured under the measurement alternative, which reflects cost less impairment, with adjustments in value resulting from observable price changes arising from orderly transactions of the same or a similar security from the same issuer ("measurement alternative investments").

The Company reviews for impairment for equity method and measurement alternative investments and includes an analysis of the facts and circumstances for each investment, expectations of cash flows, capital needs, and viability of its business model. For equity method, the asset carrying value is reduced when the decline in fair value is considered to be other than temporary. For measurement alternative investments, the asset carrying value is reduced when the fair value is less than the carrying value, without the consideration of recovery.

The Company held the following non-marketable equity securities:

•Equity Method - The Company held equity method investments of $5.3 million within other assets as of September 30, 2025 and $4.1 million at September 30, 2024. The Company’s ownership of such investments typically ranges from 5% - 25% of the investee. The Company recognized nominal net earnings from these investments within noninterest income for the fiscal year ended September 30, 2025. The Company elected to classify distributions received from equity method investments using the cumulative earnings approach on the Consolidated Statements of Cash Flows.

•Fair Value Method - The Company held equity investments measured at net asset value ("NAV") per share (or its equivalent) of $13.2 million at September 30, 2025 and $11.8 million at September 30, 2024 where NAV is considered the fair value practical expedient. These investments are recorded within other assets on the Company’s Consolidated Financial Statements. Fluctuations in fair value are recognized in earnings within noninterest Income.

•Measurement Alternative - The Company held equity investments measured using the measurement alternative of $6.7 million as of September 30, 2025 and $9.5 million at September 30, 2024 within other assets on the Company’s Consolidated Financial Statements. Equity investments measured using the measurement alternative are subject to fair value adjustments when observable price changes in orderly transactions for the identical or similar investment of the same issuer occur. The Company did not recognize any fair value adjustments in the fiscal years ended September 30, 2025 and 2024. Additionally, the Company recognized impairment loss of $3.0 million and $1.0 million of such investments during the fiscal years ended September 30, 2025 and 2024, respectively.

LOANS HELD FOR SALE ("LHFS")
Loans are designated as LHFS based on management's intent to sell loans, or portions of loans, in established secondary markets or to participating third-party financial institutions. LHFS are held at the lower of cost or fair value. Any amount by which the cost exceeds fair value is initially recorded as a valuation allowance and subsequently reflected in the gain or loss on sale when sold. At September 30, 2025 and 2024, there was no valuation allowance recorded for LHFS. Gains and losses on LHFS are recorded in noninterest income on the Consolidated Statements of Operations. Loan costs and fees are deferred at origination and are recognized in income at the time of sale. Interest income is calculated based on the note rate of the loan and is recorded as interest income. The Company occasionally transfers loans between held for sale and held for investment classifications based on its intent and ability to hold or sell loans. Management's intent to sell may be impacted by secondary market conditions, loan credit quality, or other factors.
LOANS AND LEASES

Loans Receivable
Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are classified as held for investment and are generally reported at their outstanding principal balances net of any unearned income, cumulative charge-offs, unamortized deferred fees and costs on originated loans, and unamortized premiums or discounts on purchased loans (amortized cost).

Interest income on loans is generally accrued over the term of the loans based upon the amount of principal outstanding except when serious doubt exists as to the collectability of a loan, in which case the accrual of interest is discontinued. Unearned income, deferred loan fees and costs, and discounts and premiums are amortized to interest income over the contractual life of the loan generally using the interest method. The Company's business lines follow a nonaccrual policy with certain commercial finance, consumer finance and tax service loans not generally being placed on non-accrual status, but instead are charged off when the collection of principal and interest become doubtful. When placed on nonaccrual status, the accrued unpaid interest receivable is reversed against interest income and any remaining amortizing of net deferred fees is suspended. Cash collected on these loans is applied to first reduce the carrying value of the loan with any remainder being recognized as interest income. Generally, a loan can return to accrual status when all delinquent interest and principal become current under the terms of the loan agreement and collectability of the remaining principal and interest is no longer doubtful. Loans are considered past due when contractually required principal or interest payments have not been made on the due dates.

For commercial loans, the Company generally fully charges off or charges down to net realizable value (fair value of collateral, less estimated costs to sell) for loans secured by collateral when: management judges the loans to be uncollectible; repayment is deemed to be protracted beyond reasonable time frames; the loan has been classified as a loss by either the Company's internal loan review process or its banking regulatory agencies; the customer has filed bankruptcy and the loss becomes evident owing to lack of assets; or the loan meets a defined number of days past due unless the loan is both well-secured and in the process of collection. For consumer loans, the Company fully charges off or charges down to net realizable value when deemed uncollectible due to bankruptcy or other factors, or meets a defined number of days past due.

Consumer Loan Programs
The Company partners with third-parties to originate and service consumer loans to further deploy financing offerings to the underserved and underbanked (the Programs). Loan options under the Programs include secured and unsecured installment products. The Programs allow for loans to be originated as held for sale or held for investment, with the majority of the loans being originated as held for sale and not retained by the Company. The loans are originated with terms up to 73 months, although the effective life of the loans may be much shorter.

The Programs are governed by multiple interrelated agreements including the loan agreement between the Company and the borrower and the agreements with the third-party partners. For loans held for investment, the structure of the Programs is intended to generate loans that yield a targeted return to the Bank on a portfolio basis while also providing credit enhancements from the third-party partner. Key characteristics of the Programs include:

•The Bank has thresholds in place on the maximum amount of loans to be retained by the Bank. The majority of loans originated under these Programs are originated as held for sale.

•For loans retained by the Bank, only interest received is allocated between the Bank and third-party partners. All principal cash collections for loans are retained by the Bank and reduce the outstanding principal balance.

•For loans retained by the Bank, interest received is first applied to charge offs and then to the Bank for its targeted yield under the applicable Program. Any remaining interest received in excess of the targeted yield is then allocated to the third-party partner, which includes compensation for servicing, and recorded in noninterest expense. If there is no remaining interest received after charge offs and the Bank’s yield, there is no excess interest paid or due to the third-party partners.
•The third-party partners contribute funds to a reserve account at the time of Program execution to be used for any future charge-offs not covered by interest collections, as well as any Bank required yield, as outlined in the contract. The reserve account is required to maintain minimum thresholds over the term of the Program.

The Company's agreements with multiple unrelated parties are required to be accounted for separately in accordance with U.S. GAAP relevant to each unit of account. The Company accounts for the Programs into multiple units of account as follows:

•The loans and related interest income are accounted for under ASC 310, Receivables, and are included in the Company’s expected credit losses estimation process under CECL. Due to the nature of the product, the Company recognizes interest income based on the monthly interest.
•The agreement with the third-party partner that governs the excess interest, required Bank yield, and credit enhancements meets the definition of a derivative financial instrument and is accounted for in accordance with ASC 815, Derivatives and Hedging. The derivative is accounted for at fair value in the Company’s Consolidated Statements of Financial Condition in other assets or liabilities with changes in fair value each period reported in the Consolidated Statements of Operations within noninterest expense.
–Noninterest expense each period includes actual amounts paid during the period for excess interest.

The Company had $256.4 million and $273.0 million of loans outstanding in the Programs, or 5% and 6% of its total gross loan portfolio, as of September 30, 2025 and 2024, respectively. As of September 30, 2025 and 2024, $163.1 million and $24.2 million, respectively, were included in loans held for sale at the lower of cost or fair value as a result of the Company’s decision to pursue a sale of that portion of the portfolio. As of September 30, 2025 and 2024, $93.3 million and $248.8 million were included in loans held for investment, respectively. Loans in the Programs held for investment are included within the Consumer Finance category disclosures in Note 4. Loans and Leases, Net.

Leases Receivable
The Company provides various types of commercial lease financing that are classified for accounting purposes as direct financing, sales-type or operating leases. Leases that transfer substantially all of the benefits and risks of ownership to the lessee are classified as direct financing or sales-type leases and are included in loans and leases receivable on the Consolidated Statements of Financial Condition. Direct financing and sales-type leases are carried at the combined present value of future minimum lease payments and lease residual values. The determination of lease classification requires various judgments and estimates by management, including the fair value of equipment at lease inception, useful life of the equipment under lease, lease residual value, and collectability of minimum lease payments.

Sales-type leases generate a gain or loss at lease inception by recording lease revenue less lease cost. Lease revenue consists of the present value of the future minimum lease payments. Lease cost consists of the lease equipment’s book value, less the present value of its residual. Interest income on direct financing and sales-type leases is recognized using methods that approximate a level yield over the fixed, non-cancelable term of the lease. Recognition of interest income is generally discontinued at the time the lease becomes 90 days delinquent, unless the lease is well-secured and in process of collection. Delinquency and past due status is based on the contractual terms of the lease. The Company receives pro rata rent payments for the interim period until the lease contract commences and the fixed, non-cancelable lease term begins. Interim payments are recognized in the month they are earned and are recorded in interest income. Management has policies and procedures in place for the determination of lease classification and review of the related judgments and estimates for all lease financings.

The Company generally fully charges off or charges down to net realizable value (fair value of collateral, less estimated costs to sell) for leases when management judges the lease to be uncollectible; repayment is deemed to be protracted beyond reasonable time frames; the lease has been classified as a loss by either the Company's internal review process or its banking regulatory agencies; the customer has filed bankruptcy and the loss becomes evident owing to lack of assets; or the lease meets a defined number of days past due unless the lease is both well-secured and in the process of collection.
Some lease financings include a residual value component, which represents the estimated fair value of the leased equipment at the expiration of the initial term of the transaction. The estimation of the residual value involves judgments regarding product and technology changes, customer behavior, shifts in supply and demand, and other economic assumptions. The Company may purchase and sell minimum lease payments, primarily as a credit risk reduction tool, to third-party financial institutions at fixed rates on a non-recourse basis with its underlying equipment as collateral. For those transactions that achieve sale treatment, the related lease cash flow stream and the non-recourse financing are derecognized. For those transactions that do not achieve sale treatment, the underlying lease remains on the Company’s Consolidated Statements of Financial Condition and non-recourse debt is recorded in the amount of the proceeds received. The Company retains servicing of these leases and bills, collects, and remits funds to the third-party financial institution. Upon default by the lessee, the third-party financial institutions may take control of the underlying collateral which the Company would otherwise retain as residual value.

Leases that do not transfer substantially all benefits and risks of ownership to the lessee are classified as operating leases. Such leased equipment are included in rental equipment on the Consolidated Statements of Financial Condition and are depreciated on a straight-line basis over the term of the lease to its estimated residual value.

Depreciation expense is recorded as operating lease equipment depreciation expense within noninterest expense. Operating lease rental income is recognized when it becomes due and is reflected as a component of noninterest income. The Company evaluates the carrying value of rental equipment for impairment whenever events or circumstances have occurred that would indicate the carrying amount may not be fully recoverable. If the carrying amount is not fully recoverable, an impairment loss is recognized to reduce the carrying amount to fair value, where fair value is based on the condition of the rental equipment and the projected net cash flows from rental and sale adjusted for current market conditions. A $2.9 million impairment expense from rental equipment was recognized for the fiscal year ended September 30, 2025, a $2.0 million impairment expense was recognized for fiscal year ended September 30, 2024, and a nominal impairment expense was recognized for the fiscal year ended September 30, 2023.

Loan Servicing and Transfers of Financial Assets
The Company sells loan participations, generally without recourse, in both the commercial and consumer segments. The Company also sells commercial SBA and USDA loans to third parties, generally without recourse. Sold loans are not included in the Consolidated Financial Statements. The Bank generally retains the right to service the sold loans for a fee. If the fee is determined commensurate and customary with market terms, no servicing asset or liability is recorded. Any fee that is above or below market terms results in a servicing asset or liability and is included within Other Assets on the Consolidated Statements of Financial Condition. At September 30, 2025 and 2024, the Bank was servicing loans for others with aggregate unpaid principal balances of $991.5 million and $364.5 million, respectively. The service fees and ancillary income related to these loans were immaterial. For consumer loans originated, the Bank relies on third-party services regardless of if the loans are held for investment or sold.

Transfers of loans, portions of loans meeting the definition of a participating interest, and other financial assets are accounted for as sales on the transaction settlement date when control has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been legally isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of such right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through a repurchase agreement or other means. Upon sale, the loans or other financial assets are derecognized from the Company’s Consolidated Statements of Financial Condition. If the transfer does not satisfy the aforementioned control criteria, the transaction is recorded as a secured borrowing with the loans or other financial assets remaining on the Company’s Consolidated Statements of Financial Condition and proceeds recognized as a liability.

ALLOWANCE FOR CREDIT LOSSES
The ACL represents management’s estimate of current credit losses expected to be incurred by the loan and lease portfolio over the life of each financial asset as of the balance sheet date. The Company individually evaluates loans and leases that do not share similar risk characteristics with other financial assets, which generally means loans and leases on nonaccrual status. All other loans and leases are evaluated collectively for credit loss. A reserve for unfunded credit commitments such as letters of credit and binding unfunded loan commitments is recorded in other liabilities on the Consolidated Statements of Financial Condition.
Individually evaluated loans and leases are a key component of the ACL. Generally, the Company measures credit loss on individually evaluated loans based on the fair value of the collateral less estimated selling costs, as the Company considers these financial assets to be collateral dependent. If an individually evaluated loan or lease is not collateral dependent, credit loss is measured at the present value of expected future cash flows discounted at the loan or lease initial effective interest rate. Management has also 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.

Credit loss for all other loans and leases is evaluated collectively by various characteristics. The collective evaluation of expected losses in all commercial finance and consumer lending portfolios is based on a cohort loss rate and adjustments for forward-looking information, including industry and macroeconomic forecasts. The cohort loss rate is a life of loan loss rate that immediately reverts to historical loss information for the remaining maturity of the financial asset. Management has elected to use a twelve to twenty-four month reasonable and supportable forecast for forward-looking information. Factors utilized in the determination of the allowance include historical loss experience, current economic forecasts and measurement date credit characteristics such as product type, delinquency, and industry. The unfunded credit commitments depend on these same factors, as well as estimates of lines of credit usage. The various quantitative and qualitative factors used in the methodologies are reviewed quarterly. The consumer lending programs are structured with freestanding credit enhancements that are not incorporated in management’s estimate of expected credit losses in accordance with ASC 326, Financial Instruments – Credit Losses. Rather these credit enhancements are reflected in the Company’s noninterest expense section of the Consolidated Statements of Income (Loss) from Operations.

The amount of ACL depends significantly on management’s estimates or key factors and assumptions affecting valuation, appraisals of collateral, evaluations of performance and status, the amounts and timing of future cash flows expected to be received, forecasts of future economic conditions and reversion periods. Such estimates, appraisals, evaluations, cash flows and forecasts may be subject to frequent adjustments due to changing economic prospects of borrowers, lessees, properties or economic conditions. These estimates are reviewed quarterly and adjustments, if necessary, are recorded in the provision for credit loss in the periods in which they become known.

Accrued interest receivable is presented separately on the Consolidated Statements of Financial Condition, and an ACL is not recorded for these balances. Generally, when a loan or lease is placed on nonaccrual status, typically when the collection of interest or principal is 90 days or more past due, uncollected interest accrued in prior years is charged off against the ACL and interest accrued in the current year is reversed against interest income.

Management maintains a framework of controls over the estimation process for the ACL, including review of collective reserve methodologies for compliance with GAAP. Management has a quarterly process to review the appropriateness of historical observation periods and loss assumptions and risk ratings assigned to loans and leases, if applicable. Management reviews its qualitative framework and the effect on the collective reserve compared with relevant credit risk factors and consistency with credit trends. Management also maintains controls over information systems, models and spreadsheets used in the quantitative components of the reserve estimate. This includes the quality and accuracy of historical data used to derive loss rates, the inputs to industry and macroeconomic forecasts and the reversion periods utilized. The results of this process are summarized and presented to management quarterly for their approval of the recorded allowance. See Note 4. Loans and Leases, Net for further information.
The following are risk characteristics of the Company’s loan and lease portfolio:
Commercial Finance
The Company's Commercial Finance business line offers a variety of products through its working capital, equipment finance, and structured finance lending solutions. These products include term lending, asset-based lending, factoring, lease financing, government guaranteed lending and other commercial finance products offered on a nationwide basis that are subject to adverse market conditions which may impact the borrower’s ability to make repayment on the loan or lease or could cause a decline in the value of the collateral that secures the loan or lease. The loans or leases are primarily made based on the operating cash flows of the borrower and on the underlying collateral provided by the borrower. The cash flows of borrowers may be volatile and the value of the collateral securing these loans and leases may be difficult to measure. Most commercial finance loans and leases are secured by the assets being financed or other business assets such as accounts receivable or inventory. Although the loans and leases are often collateralized by equipment, inventory, accounts receivable, or other business assets, the liquidation of collateral in the event of a borrower default may be an insufficient source of repayment, because accounts receivable may be uncollectible and inventories and equipment may be obsolete or of limited use. The Company attempts to mitigate these risks by adhering to its underwriting policies in evaluating the management of the business and the credit-worthiness of borrowers and guarantors. See Note 2. Divestitures for information on the sale of the Bank's commercial premium finance insurance business, which was completed on October 31, 2024.

Consumer Finance
The Bank offers a variety of installment and revolving consumer lending products through its credit solutions. The Bank designs its credit program relationships with certain desired outcomes, including liquidity, credit protection, and risk retention by the program partner. The Bank believes the benefits of these outcomes not only support its goals but the goals of the credit program partner as well. The Bank designs its program credit protections in a manner so that the Bank earns a reasonable risk adjusted return, but is protected by certain layers of credit support, similar to what you would find in structured finance. These program credit protections are considered freestanding credit enhancements under ASC 326 and are not considered in the Company's estimate for the ACL. Rather, these program credit protections are captured in the Company's noninterest activities on the Consolidated Statements of Operations. Certain loans are sold to third parties based on terms and conditions within the Program Agreement.
Derivative Instruments
Derivatives are financial instruments that meet the criteria in ASC 815, Derivatives and Hedging, to be recognized as either freestanding or embedded derivatives. The Company’s derivatives are recognized as either assets or liabilities in the Consolidated Statements of Financial Condition at fair value. Changes in the fair value of the derivatives are recorded through noninterest expense in the Consolidated Statements of Operations. The Company does not utilize derivative instruments for trading or speculative purposes.

The Bank’s use of derivatives is limited to the Consumer Lending Programs. Under these Programs, the Bank has an agreement with a third party to originate consumer loans that are included in the Bank’s held for investment or held for sale portfolios. The third party provides a target return to the Company on the portfolio of loans retained by the Bank and all interest received from borrowers on such loans above the target return and after all charge-offs have been covered is paid to the third-party as excess interest and servicing. This agreement to pay the third-party excess interest and receive credit enhancements meets the definition of a derivative instrument. The primary drivers of the derivative value include the Company’s ability to settle the loans at par value and the third-party partners’ rights of first refusal to purchase loans that the Company intends to sell. Each reporting period, the Company estimates the fair value of the derivative instrument using a market approach considering primarily the average interest rate on the underlying loans and the credit spread relative to the risk-free rate in order to validate that the value of the loans is in excess of par and thus the derivative could be settled by either party at no cost. The Company considers this derivative instrument to be within Level 3 of the fair value hierarchy, as it utilizes inputs from sales or securitization transactions involving similar loans. As of September 30, 2025 and 2024, the Company determined the derivatives had no fair value, respectively, thus eliminating the need for further disclosures regarding Level 3 inputs as outlined in ASC 820.

Tax Services
The Bank's Partner Solutions business line also offers tax solutions, which includes short-term refund advance loans. Through this product, taxpayers are underwritten to determine eligibility for these unsecured loans. Due to the nature of refund advance loans, it typically takes no more than three e-file cycles (the period of time between scheduled IRS payments) from when the return is accepted by the IRS to collect from the borrower. In the event of default, the Bank has no recourse against the tax consumer. When collection of principal becomes doubtful, the Bank will charge off the balance of a refund advance loan on September 30. Any remaining balances are charged off at the end of the calendar year. The Bank may record recoveries of previously charged off loans if collected in subsequent tax years.

The Bank offers short-term electronic return originator ("ERO") advance loans on a nationwide basis. These loans are typically utilized by tax preparers to purchase tax preparation software and to prepare tax office operations for the upcoming tax season. EROs go through an underwriting process to determine eligibility for the unsecured advances. ERO loans are not collateralized. Collection on ERO advances begins once the ERO begins to process refund transfers. Generally, the Bank will charge off the balance of an ERO advance loan if there is a balance at the end of June, or when collection of principal becomes doubtful.

Warehouse Finance
The Bank participates in several collateral-based warehouse lines of credit whereby the Bank is in a senior, secured position as the first out participant. These facilities are primarily collateralized by consumer receivables, with the Bank holding a senior collateral position enhanced by a subordinate party structure.

PREMISES, FURNITURE, AND EQUIPMENT
Land is carried at cost. Buildings, furniture, fixtures, leasehold improvements, internal-use software and equipment are carried at cost, less accumulated depreciation and amortization. The Company primarily uses the straight-line method of depreciation and amortization over the estimated useful lives of the assets, which is 39 years for buildings, three years for internal-use software, and range from two years to 15 years for leasehold improvements and for furniture, fixtures and equipment. Assets are reviewed for impairment when events indicate the carrying amount may not be recoverable. See Note 6. Premises, Furniture and Equipment, Net for further information.
GOODWILL
Goodwill represents the cost in excess of the fair value of net assets acquired (including identifiable intangibles) in transactions accounted for as business acquisitions. Goodwill is evaluated annually for impairment at a reporting unit level. The Company has determined that its reporting units are one level below the operating segments and distinguish these reporting units based on how the segments and reporting units are managed, taking into consideration the economic characteristics, nature of the products, and customers of the segments and reporting units. The Company performs its impairment evaluation as of September 30 of each fiscal year unless a triggering event occurs that would require an interim impairment evaluation. The Company generally utilizes a qualitative approach during this annual assessment to determine whether it is more likely than not (i.e. a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying value. If we determine it is more likely than not that goodwill is impaired, then a quantitative assessment is performed to determine fair value of the reporting unit. If the carrying amount of the reporting unit with goodwill exceeds its fair value, goodwill is considered impaired and is written down by the excess carrying value of the reporting unit. Subsequent increases in goodwill are not recognized in the Consolidated Financial Statements. No goodwill impairment was recognized during the fiscal years ended September 30, 2025, 2024 or 2023. See Note 8. Goodwill and Intangible Assets for further information.

INTANGIBLE ASSETS
Intangible assets other than goodwill are amortized over their respective estimated lives. All intangible assets are subject to an impairment test at least annually or more often if conditions indicate a possible impairment. See Note 8. Goodwill and Intangible Assets for further information.

STOCK COMPENSATION
Compensation expense for share-based awards is recorded over the vesting period at the fair value of the award at the time of grant. The fair value of nonvested (restricted) shares and performance share units 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. See Note 13. Stock Compensation for further information.

INCOME TAXES
The Company records income tax expense based on the amount of taxes due on its tax return plus deferred taxes computed based on the expected future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities, using enacted tax rates. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.

In accordance with ASC 740, Income Taxes, the Company recognizes a tax position as a benefit only if it is more likely than not that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized upon examination. For tax positions not meeting the more likely than not test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in noninterest income or noninterest expense. The effect on deferred tax assets and liabilities from a change in tax rates is recorded in income tax expense in the Consolidated Statements of Operations in the period in which the enactment date occurs. If current period income tax rates change, the impact on the annual effective income tax rate is applied year to date in the period of enactment. See Note 14. Income Taxes for further information.

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK
The Company, in the normal course of business, makes commitments to originate loans which are not reflected in the Consolidated Financial Statements. The reserve for these unfunded commitments is included within Other Liabilities on the Consolidated Statements of Financial Condition.

COMPREHENSIVE INCOME (LOSS)
Comprehensive income (loss) consists of net income and other comprehensive income or loss. Other comprehensive income or loss includes the change in net unrealized holding gains and losses due to market conditions and other non-credit risk factors on AFS debt securities, net of reclassification adjustments and tax effects. Accumulated other comprehensive income (loss) is recognized as a separate component of stockholders’ equity.
REVENUE RECOGNITION
Interest revenue from loans, leases, and investments is recognized on the accrual basis of accounting as the interest is earned according to the terms of the particular loan, lease, or investment. Income from service and other customer charges is recognized as earned. Revenue within the Consumer segment is recognized as services are performed and service charges are earned in accordance with the terms of the various programs. Refer to Note 16. Revenue from Contracts with Customers for additional information.
 
EARNINGS PER COMMON SHARE (“EPS”)
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 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. See Note 5. Earnings per Common Share for further information.

RELATED PARTY TRANSACTIONS
The Company has disclosed information on its equity investments and relationships with variable interest entities in Note 1. Summary of Significant Accounting Policies.

At September 30, 2025 and 2024, the Company had no loans or deposits outstanding with individuals deemed under Regulation O to be directors, executive officers and/or employees of the Company.
RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES ("ASU")
The following ASU was adopted by the Company during the fiscal year ended September 30, 2025 and did not have a material impact on the Company's Consolidated Financial Statements. The following ASU became effective for the Company on October 1, 2024.

ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU improves reportable segment disclosures primarily by enhancing disclosure requirements about significant segment expenses. The amendments were effective for the Company beginning October 1, 2024, and the amended guidance was first applied to the Company's annual consolidated financial statements for the fiscal year ending September 30, 2025 using a retrospective transition method. This ASU impacts disclosure only, and therefore does not have an impact on our consolidated financial statements. See Note 17. Segment Reporting.

The following ASUs have been issued and are considered applicable to the Company, but have not yet been adopted as of September 30, 2025.

ASU 2023-09, Income Taxes (ASC 740): Improvements to Income Tax Disclosures. This ASU requires enhanced income tax disclosures primarily related to the rate reconciliation and income taxes paid information to provide further transparency surrounding the Company’s income tax position. The amendments in this ASU will be effective for the Company beginning on October 1, 2025 and will apply to the Company's annual consolidated financial statements for the fiscal year ending September 30, 2026. The Company is currently evaluating the impact of such amendments to the consolidated financial statements and related disclosures.

ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures. This ASU requires public entities to provide enhanced disaggregation of certain expense categories presented in the income statement to improve transparency and consistency in financial reporting. The new guidance aims to provide investors with more detailed information regarding the nature of a company’s expenses. The amendments will be effective for the Company beginning with the fiscal year ending September 30, 2027, and interim periods within that fiscal year. The amendments are to be applied retrospectively to all prior periods presented. The Company is currently evaluating the impact of such amendments to the consolidated financial statements and related disclosures.
ASU 2025-05, Financial Instruments—Credit Losses (Topic 326) Measurement of Credit Losses for Accounts Receivable and Contract Assets. This ASU clarifies the measurement of expected credit losses for accounts receivable and contract assets arising from revenue transactions, aligning the application of Topic 326 with the revenue recognition guidance in Topic 606. The amendments are intended to reduce diversity in practice and improve the consistency of credit loss estimates across similar financial assets. The amendments will be effective for the Company beginning on October 1, 2026, and will apply to interim periods within the fiscal year ending September 30, 2027. The Company is currently evaluating the impact of such amendments to the consolidated financial statements and related disclosures.

ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40). This ASU modernizes the accounting for internally used software by streamlining when costs may be capitalized and by enhancing disclosure and presentation requirements. The amendments will be effective for the Company beginning on October 1, 2028, and will apply to interim periods within the fiscal year ending September 30, 2029. The Company is currently evaluating the impact of such amendments to the consolidated financial statements and related disclosures.

ASU 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606). This ASU refines the scope of derivative accounting and clarifies the treatment of certain share-based noncash consideration received from customers. The amendments are intended to enhance clarity and consistency in applying derivative and revenue recognition guidance. The amendments will be effective for the Company beginning on October 1, 2027 and will apply to interim periods within the fiscal year ending September 30, 2028. The Company is currently evaluating the impact of such amendments to the consolidated financial statements and related disclosures.
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DIVESTITURES
 12 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
DIVESTITURES DIVESTITURES
On October 31, 2024, the Company completed the sale of the Bank's commercial insurance premium finance business, a component of the Company's Commercial segment, pursuant to the Asset Purchase and Sale Agreement (the "Purchase Agreement") dated August 28, 2024 with Honor Capital Corporation, a Florida corporation, the successor by assignment to AFS IBEX Financial Services, LLC, and Honor Capital Holdings, LLC as guarantor. The purchase price at closing was based on the net asset value of the assets purchased and liabilities assumed pursuant to the Purchase Agreement plus a $31.2 million premium. The sale included substantially all of the assets and liabilities related to the Bank's commercial insurance premium finance business. The Company has summarized the results of the transaction as follows:

(Dollars in thousands)December 31, 2024Settlement AdjustmentsSeptember 30, 2025
Assets Purchased and Liabilities Assumed
Cash and cash equivalents$4,686 $— $4,686 
Loans594,541 (1,360)593,181 
Premises, furniture, and equipment, net484 — 484 
Total assets purchased$599,711 $(1,360)$598,351 
Deposits$16,760 $— $16,760 
Accrued expenses and other liabilities1,158 120 1,278 
Total liabilities assumed$17,918 $120 $18,038 
Net assets purchased$581,793 $(1,480)$580,313 
Consideration paid at close603,290 8,223 611,513 
Consideration due9,703 (9,703)— 
Purchase price612,993 (1,480)611,513 
Premium on transaction31,200 — 31,200 
Other adjustments:
Goodwill derecognition(11,577)— (11,577)
Intangible derecognition(631)— (631)
Building lease derecognition471 — 471 
Deferred loan origination cost derecognition— (1,360)(1,360)
Transaction costs(3,059)— (3,059)
Total other adjustments(14,796)(1,360)(16,156)
Gain on divestitures$16,404 $(1,360)$15,044 

After final settlement adjustments, the sale resulted in an overall gain of $15.0 million before tax that was recognized within noninterest income on the Company's Condensed Consolidated Statements of Operations. The settlement adjustments during the three months ended March 31, 2025 resulted in a $1.4 million decrease of the previously recognized gain as of December 31, 2024 as a result of certain deferred loan origination costs that were excluded from the final settlement. See Note 8. Goodwill and Intangible Assets and Note 9. Operating Lease Right-of-Use Assets and Liabilities to the Condensed Consolidated Financial Statements for further information on the amounts included in the divestiture.
v3.25.3
SECURITIES
 12 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
SECURITIES SECURITIES
 
The amortized cost, gross unrealized gains and losses and estimated fair values of debt securities AFS and HTM are presented below.

(Dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair
Value
Debt Securities AFS
September 30, 2025
Corporate securities$25,000 $— $(3,750)$21,250 
SBA securities11,791 — (1,022)10,769 
Obligations of states and political subdivisions162 — — 162 
Non-bank qualified obligations of states and political subdivisions213,072 25 (26,057)187,040 
Asset-backed securities138,698 21 (2,347)136,372 
Mortgage-backed securities1,129,406 57 (157,213)972,250 
Total debt securities AFS$1,518,129 $103 $(190,389)$1,327,843 
September 30, 2024
Corporate securities$25,000 $— $(5,250)$19,750 
SBA securities86,036 — (4,101)81,935 
Obligations of states and political subdivisions501 — (21)480 
Non-bank qualified obligations of states and political subdivisions246,233 44 (28,287)217,990 
Asset-backed securities192,979 337 (3,618)189,698 
Mortgage-backed securities1,393,549 84 (162,265)1,231,368 
Total debt securities AFS$1,944,298 $465 $(203,542)$1,741,221 
Debt Securities HTM
September 30, 2025
Non-bank qualified obligations of states and political subdivisions$27,373 $— $(3,430)$23,943 
Mortgage-backed securities1,935 — (225)1,710 
Total debt securities HTM$29,308 $— $(3,655)$25,653 
September 30, 2024
Non-bank qualified obligations of states and political subdivisions$31,060 $— $(2,668)$28,392 
Mortgage-backed securities2,032 — (188)1,844 
Total debt securities HTM$33,092 $— $(2,856)$30,236 
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
September 30, 2025
Corporate securities$— $— $21,250 $(3,750)$21,250 $(3,750)
SBA securities— — 10,769 (1,022)10,769 (1,022)
Non-bank qualified obligations of states and political subdivisions— — 185,089 (26,057)185,089 (26,057)
Asset-backed securities64,995 (556)66,263 (1,791)131,258 (2,347)
Mortgage-backed securities1,102 (2)965,549 (157,211)966,651 (157,213)
Total debt securities AFS$66,097 $(558)$1,248,920 $(189,831)$1,315,017 $(190,389)
September 30, 2024
Corporate securities$— $— $19,750 $(5,250)$19,750 $(5,250)
SBA securities— — 81,935 (4,101)81,935 (4,101)
Obligations of state and political subdivisions— — 280 (21)280 (21)
Non-bank qualified obligations of states and political subdivisions— — 215,956 (28,287)215,956 (28,287)
Asset-backed securities52,101 (176)88,576 (3,442)140,677 (3,618)
Mortgage-backed securities2,377 (15)1,215,781 (162,250)1,218,158 (162,265)
Total debt securities AFS$54,478 $(191)$1,622,278 $(203,351)$1,676,756 $(203,542)
Debt Securities HTM
September 30, 2025
Non-bank qualified obligations of states and political subdivisions$— $— $23,943 $(3,430)$23,943 $(3,430)
Mortgage-backed securities— — 1,710 (225)1,710 (225)
Total debt securities HTM$— $— $25,653 $(3,655)$25,653 $(3,655)
September 30, 2024
Non-bank qualified obligations of states and political subdivisions$— $— $28,392 $(2,668)$28,392 $(2,668)
Mortgage-backed securities— — 1,844 (188)1,844 (188)
Total debt securities HTM$— $— $30,236 $(2,856)$30,236 $(2,856)

The decrease in the fair value of investment securities balances when comparing September 30, 2025 to the prior year was primarily driven by the sale of $239.3 million debt securities AFS and principal pay downs during the fiscal year. The sale of debt securities AFS in the first quarter of fiscal 2025 stemmed from the decision to offset the gain on the sale of the commercial insurance premium finance business. The sale of debt securities AFS in the second quarter of fiscal 2025 stemmed from the decision to offset the gain on the sale of the transportation portfolio within working capital. Individual securities were identified for sale upon close of the transactions in order to reposition the debt securities AFS portfolio. At September 30, 2025, there were 147 debt securities AFS in an unrealized loss position. Management assessed each investment security with unrealized losses for credit loss by evaluating qualitative factors, including materiality of loss position as a percentage of book value, credit ratings, outstanding principal and interest payments, and changes in the underlying implicit or explicit guarantee of the security, 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 September 30, 2025, there was no ACL for debt securities AFS.
The amortized cost and fair value of debt securities by contractual maturity are shown below. Certain securities have call features which 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)September 30, 2025September 30, 2024
Debt Securities AFSAmortized CostFair
Value		Amortized CostFair
Value
Due in one year or less$755 $760 $1,826 $1,796 
Due after one year through five years1,332 1,352 14,772 14,211 
Due after five years through ten years27,688 23,947 70,894 63,636 
Due after ten years358,948 329,534 463,257 430,210 
388,723 355,593 550,749 509,853 
Mortgage-backed securities1,129,406 972,250 1,393,549 1,231,368 
Total debt securities AFS$1,518,129 $1,327,843 $1,944,298 $1,741,221 
Debt Securities HTM
Due after ten years$27,373 $23,943 $31,060 $28,392 
27,373 23,943 31,060 28,392 
Mortgage-backed securities1,935 1,710 2,032 1,844 
Total debt securities HTM$29,308 $25,653 $33,092 $30,236 

Activity related to the sale of securities is summarized below.

Fiscal Year Ended September 30,
(Dollars in thousands)202520242023
Securities AFS
   Proceeds from sales$239,322 $— $— 
   Gross gains on sales— — — 
   Gross losses on sales25,084 — — 
 Net loss on securities AFS$(25,084)$— $— 

There was no activity related to the sale of securities held to maturity during the fiscal years ended September 30, 2025, 2024, and 2023.

No securities were pledged as collateral for public funds on deposit at September 30, 2025 and 2024. No securities were pledged as collateral for individual, trust and estate deposits at September 30, 2025 and 2024.

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 September 30, 2025 and 2024. These equity securities are 'restricted' in that they can only be owned by member banks. At fiscal year-end 2025 and 2024, the Company pledged securities with fair values of $385.5 million and $533.8 million against FRB advances, respectively.

For each of the fiscal years ended September 30, 2025, 2024, and 2023, $1.2 million related to dividend income on FRB stock is included in interest and dividend income from other investments.

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 $5.0 million and $16.3 million at September 30, 2025 and 2024, respectively. At fiscal year-end 2025 and 2024, the Company pledged securities with fair values of approximately $955.3 million and $1.04 billion, respectively, as collateral against FHLB advances. There was approximately $223.0 million and $136.9 million of qualifying loans pledged as collateral at September 30, 2025 and 2024, respectively.

Included in interest and dividend income from other investments is $0.6 million, $0.7 million and $0.5 million related to dividend income on FHLB stock for the fiscal years ended September 30, 2025, 2024 and 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 $3.8 million and $3.3 million in marketable equity securities within other assets on the Consolidated Statements of Financial Condition at September 30, 2025 and 2024, respectively. The Company recognized $0.1 million and $0.1 million in unrealized losses on marketable equity securities during the fiscal years ended September 30, 2025 and 2024, respectively. No such securities were sold during the fiscal year.

Non-marketable equity securities that are measured at fair value using NAV as a practical expedient totaled $13.2 million and $11.8 million at September 30, 2025 and 2024, respectively. These securities are held within other assets on the Consolidated Statements of Financial Condition. The Company recognized $1.6 million and $1.1 million in unrealized gains during the fiscal years ended September 30, 2025 and 2024, respectively. No such securities were sold during the fiscal year.

Non-marketable equity securities without readily determinable fair value totaled $12.0 million and $13.6 million at September 30, 2025 and 2024, respectively, reflecting the Company's ownership interests in other entities through Pathward Venture Capital, LLC, a wholly-owned service corporation subsidiary of the Bank that was formed in 2017 for the purpose of making minority equity investments and other corporate investments. The Company recognized a $0.4 million gain and a $2.4 million gain on Visa shares previously carried at a cost basis of $0 during the fiscal years ended September 30, 2025 and 2024, respectively. This gain was recognized within the gain on sale of other on the Consolidated Statements of Operations. There was one security sold during the fiscal year ended September 30, 2025 for a $0.4 million gain which is included in gain on sale of other on the 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 $3.0 million, $1.0 million, and $3.3 million in impairment for such investments for the fiscal years ended September 30, 2025, 2024, and 2023, respectively.
v3.25.3
LOANS AND LEASES, NET
 12 Months Ended
Sep. 30, 2025
Loans and Leases Receivable Disclosure [Abstract]  
LOANS AND LEASES, NET LOANS AND LEASES, NET
Loans and leases consist of the following:

(Dollars in thousands)September 30, 2025September 30, 2024
Term lending$2,302,540 $1,554,641 
Asset-based lending593,265 471,897 
Factoring217,501 362,295 
Lease financing149,236 152,174 
SBA/USDA511,488 568,628 
Other commercial finance149,939 185,964 
Commercial finance3,923,969 3,295,599 
Consumer finance93,319 248,800 
Tax services2,532 8,825 
Warehouse finance645,186 517,847 
Total loans and leases4,665,006 4,071,071 
Net deferred loan origination costs (fees)(98)4,124 
Total gross loans and leases4,664,908 4,075,195 
Allowance for credit losses(53,319)(71,765)
Total loans and leases, net$4,611,589 $4,003,430 

During the fiscal years ended September 30, 2025 and 2024, the Company originated $2.50 billion and $2.03 billion of consumer finance and SBA/USDA loans as held for sale, respectively.

The Company sold held for sale loans resulting in proceeds of $2.91 billion and gain on sale of $37.0 million during the fiscal year ended September 30, 2025. The Company sold held for sale loans resulting in proceeds of $2.04 billion and gain on sale of $5.9 million during the fiscal year ended September 30, 2024. Gains and losses from the sale of loans and leases are included in secondary market revenue on the Consolidated Statements of Operations.

See Note 2. Divestitures to the Consolidated Financial Statements for further information on the sale of the Company's commercial insurance premium finance business.

Loans purchased and sold by portfolio segment, including participation interests, were as follows:

Fiscal Year Ended September 30,
(Dollars in thousands)20252024
Loans Purchased
Loans held for investment:
Commercial finance$20,811 $13,782 
Warehouse finance205,417 284,480 
Total purchases$226,228 $298,262 
Loans Sold
Loans held for sale:
Commercial finance$563,997 $99,005 
Consumer finance2,349,777 1,937,079 
Total sales$2,913,774 $2,036,084 
Leasing Portfolio. The net investment in direct financing and sales-type leases was comprised of the following:

(Dollars in thousands)September 30, 2025September 30, 2024
Minimum lease payments receivable$157,271 $162,757 
Unguaranteed residual assets6,785 9,300 
Unamortized initial direct costs68 102 
Unearned income(14,820)(19,883)
Total net investment in direct financing and sales-type leases$149,304 $152,276 

The components of total lease income were as follows:

Fiscal Year Ended September 30,
(Dollars in thousands)202520242023
Interest income - loans and leases
Interest income on net investments in direct financing and sales-type leases$11,185 $11,827 $13,536 
Leasing and equipment finance noninterest income
Lease income from operating lease payments50,750 53,365 53,551 
Other(1)
8,441 4,921 3,964 
Total leasing and equipment finance noninterest income59,191 58,286 57,515 
Total lease income$70,376 $70,113 $71,051 
(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 September 30, 2025 were as follows:

(Dollars in thousands)
2026$50,195 
202760,916 
202822,911 
202915,108 
20306,489 
Thereafter1,652 
Total undiscounted future minimum lease payments receivable for direct financing and sales-type leases157,271 
Third-party residual value guarantees— 
Total carrying amount of minimum lease payments for direct financing and sales-type leases$157,271 

The Company did not record any contingent rental income from direct financing and sales-type leases in the fiscal year ended September 30, 2025.
A number of factors that began to affect the economic environment in 2023 have continued into 2025, including economic uncertainty, inflation, increased interest rates, with the Federal Reserve beginning to lower the target federal funds rate at the end of 2024, and geopolitical conflict. Since early 2025, global markets and the U.S. economy have also experienced disruption and volatility resulting from tariffs and other policies of the U.S. administration, which may continue during the remainder of 2025. 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 by portfolio segment was as follows:
 
Fiscal Year Ended September 30,
(Dollars in thousands)20252024
Beginning balance$71,765 $96,855 
Provision for credit loss56,545 57,678 
Charge-offs(90,894)(95,245)
Recoveries15,903 12,477 
Ending balance$53,319 $71,765 

Fiscal Year Ended September 30, 2025
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$30,394 $11,728 $(16,977)$3,200 $28,345 
Asset-based lending1,356 11,855 (5,611)50 7,650 
Factoring5,757 (668)(1,479)709 4,319 
Lease financing1,189 1,240 (1,426)37 1,040 
Insurance premium finance— 91 (93)2 — 
SBA/USDA3,273 4,100 (2,649)83 4,807 
Other commercial finance607 (517)— — 90 
Commercial finance42,576 27,829 (28,235)4,081 46,251 
Consumer finance28,669 6,497 (30,938)2,194 6,422 
Tax services2 22,091 (31,721)9,628 — 
Warehouse finance518 128 — — 646 
Total loans and leases71,765 56,545 (90,894)15,903 53,319 
Unfunded commitments(1)
695 229 — — 924 
Total $72,460 $56,774 $(90,894)$15,903 $54,243 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Consolidated Statements of Financial Condition.
Fiscal Year Ended September 30, 2024
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$25,686 $20,558 $(18,193)$2,343 $30,394 
Asset-based lending2,738 (1,637)— 255 1,356 
Factoring6,566 1,420 (2,453)224 5,757 
Lease financing3,302 (2,010)(287)184 1,189 
Insurance premium finance2,637 (1,767)(1,149)279 — 
SBA/USDA2,962 1,065 (755)1 3,273 
Other commercial finance3,089 (2,482)— — 607 
Commercial finance46,980 15,147 (22,837)3,286 42,576 
Consumer finance49,496 19,395 (41,628)1,406 28,669 
Tax services2 22,995 (30,780)7,785 2 
Warehouse finance377 141 — — 518 
Total loans and leases96,855 57,678 (95,245)12,477 71,765 
Unfunded commitments(1)
272 423 — — 695 
Total $97,127 $58,101 $(95,245)$12,477 $72,460 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Consolidated Statements of Financial Condition.

Fiscal Year Ended September 30, 2023
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$24,621 $10,541 $(11,295)$1,819 $25,686 
Asset-based lending1,050 4,005 (2,873)556 2,738 
Factoring6,556 1,523 (1,545)32 6,566 
Lease financing5,902 (1,424)(1,479)303 3,302 
Insurance premium finance1,450 2,349 (1,659)497 2,637 
SBA/USDA3,263 (296)(43)38 2,962 
Other commercial finance1,310 1,779 — — 3,089 
Commercial finance44,152 18,477 (18,894)3,245 46,980 
Consumer finance19,312 55,034 (26,297)1,447 49,496 
Tax services5 35,775 (38,741)2,963 2 
Warehouse finance327 50 — — 377 
Total loans and leases63,796 109,336 (83,932)7,655 96,855 
Unfunded commitments(1)
366 (94)— — 272 
Total $64,162 $109,242 $(83,932)$7,655 $97,127 
(1) Reserve for unfunded commitments is recognized within other liabilities on the 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)September 30, 2025September 30, 2024
Term lending$33,042 $15,491 
Asset-based lending24,273 — 
Lease financing3,985 5,300 
SBA/USDA6,147 1,419 
Commercial finance(1)
67,447 22,210 
Total$67,447 $22,210 
(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 $107.7 million and $105.1 million at September 30, 2025 and 2024, 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 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 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 $93.3 million and $2.5 million at September 30, 2025, respectively, and $248.8 million and $8.8 million at September 30, 2024, 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
September 30, 202520252024202320222021Prior
Term lending
Pass$935,599 $399,968 $298,678 $99,820 $43,216 $35,971 $— $1,813,252 
Watch65,674 71,326 68,737 7,222 28,882 13,357 — 255,198 
Special mention56 68,989 3,762 826 11,078 65 — 84,776 
Substandard29,792 24,666 37,845 14,137 16,050 19,995 — 142,485 
Doubtful— 564 774 3,854 1,615 22 — 6,829 
Total1,031,121 565,513 409,796 125,859 100,841 69,410 — 2,302,540 
Current period charge-offs— 7,818 4,492 3,257 991 419 — 16,977 
Asset-based lending
Pass— — — — — — 301,128 301,128 
Watch— — — — — — 233,541 233,541 
Special mention— — — — — — 31,702 31,702 
Substandard— — — — — — 24,730 24,730 
Doubtful— — — — — — 2,164 2,164 
Total— — — — — — 593,265 593,265 
Current period charge-offs— — — — — — 5,611 5,611 
Factoring
Pass— — — — — — 179,352 179,352 
Watch— — — — — — 36,218 36,218 
Special mention— — — — — — 394 394 
Substandard— — — — — — 1,537 1,537 
Total— — — — — — 217,501 217,501 
Current period charge-offs— — — — — — 1,479 1,479 
Lease financing
Pass43,710 20,259 36,483 2,270 1,089 4,439 — 108,250 
Watch13,587 5,181 13 635 1,059 — — 20,475 
Special mention— 941 223 — 181 44 — 1,389 
Substandard7,190 — 5,375 1,377 4,088 905 — 18,935 
Doubtful— — 150 — 37 — — 187 
Total64,487 26,381 42,244 4,282 6,454 5,388 — 149,236 
Current period charge-offs— — 320 — 1,005 101 — 1,426 
Insurance premium finance
Current period charge-offs— 62 31 — — — — 93 
SBA/USDA
Pass79,928 61,063 93,459 136,075 19,674 30,962 — 421,161 
Watch2,651 5,117 136 12,477 691 3,598 — 24,670 
Special mention2,682 350 — — 326 1,038 — 4,396 
Substandard315 3,176 12,721 7,678 2,235 30,588 — 56,713 
Doubtful221 2,687 1,592 — — 48 — 4,548 
Total85,797 72,393 107,908 156,230 22,926 66,234 — 511,488 
Current period charge-offs74 882 537 90 55 1,011 — 2,649 
Other commercial finance
Pass8,770 63,200 — 134 12,471 62,495 — 147,070 
Watch— — 2,418 — — — — 2,418 
Substandard— — 451 — — — — 451 
Total8,770 63,200 2,869 134 12,471 62,495 — 149,939 
Current period charge-offs— — — — — — — — 
Warehouse finance
Pass— — — — — — 645,186 645,186 
Total— — — — — — 645,186 645,186 
Current period charge-offs— — — — — — — — 
Total loans and leases
Pass1,068,007 544,490 428,620 238,299 76,450 133,867 1,125,666 3,615,399 
Watch81,912 81,624 71,304 20,334 30,632 16,955 269,759 572,520 
Special mention2,738 70,280 3,985 826 11,585 1,147 32,096 122,657 
Substandard37,297 27,842 56,392 23,192 22,373 51,488 26,267 244,851 
Doubtful221 3,251 2,516 3,854 1,652 70 2,164 13,728 
Total$1,190,175 $727,487 $562,817 $286,505 $142,692 $203,527 $1,455,952 $4,569,155 
Current period charge-offs$74 $8,762 $5,380 $3,347 $2,051 $1,531 $7,090 $28,235 

Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
September 30, 202420242023202220212020Prior
Term lending
Pass$548,597 $398,832 $117,180 $77,585 $42,950 $24,166 $— $1,209,310 
Watch47,765 52,317 34,964 31,025 2,720 2,312 — 171,103 
Special mention44,617 3,106 9,121 14,772 7,238 2 — 78,856 
Substandard9,798 24,187 18,537 11,660 18,894 2,631 — 85,707 
Doubtful4,314 1,465 2,247 758 114 767 — 9,665 
Total655,091 479,907 182,049 135,800 71,916 29,878 — 1,554,641 
Current period charge-offs114 3,102 8,502 3,576 2,184 715 — 18,193 
Asset-based lending
Pass— — — — — — 233,268 233,268 
Watch— — — — — — 221,521 221,521 
Special mention— — — — — — 13,187 13,187 
Substandard— — — — — — 3,921 3,921 
Total— — — — — — 471,897 471,897 
Current period charge-offs— — — — — — — — 
Factoring
Pass— — — — — — 292,436 292,436 
Watch— — — — — — 62,270 62,270 
Special mention— — — — — — 271 271 
Substandard— — — — — — 7,306 7,306 
Doubtful— — — — — — 12 12 
Total— — — — — — 362,295 362,295 
Current period charge-offs— — — — — — 2,453 2,453 
Lease financing
Pass44,883 48,851 12,862 7,101 7,938 1,733 — 123,368 
Watch1,837 3,537 370 6,264 1,362 40 — 13,410 
Special mention— 250 — — 174 — — 424 
Substandard— 6,691 2,723 2,717 2,069 603 — 14,803 
Doubtful— — — 138 31 — — 169 
Total46,720 59,329 15,955 16,220 11,574 2,376 — 152,174 
Current period charge-offs— — — 207 80 — — 287 
Insurance premium finance
Current period charge-offs86 890 173 — — — — 1,149 
SBA/USDA
Pass60,636 171,136 179,490 20,825 28,588 39,319 — 499,994 
Watch5,244 6,967 — 639 10 3,026 — 15,886 
Special mention— — — 156 — 363 — 519 
Substandard1,037 15,923 12,158 2,003 9,519 11,134 — 51,774 
Doubtful— 185 55 55 62 98 — 455 
Total66,917 194,211 191,703 23,678 38,179 53,940 — 568,628 
Current period charge-offs— 549 79 — 127 — — 755 
Other commercial finance
Pass73,330 2,210 6,685 12,351 1,274 70,203 — 166,053 
Watch— 2,480 — — — — — 2,480 
Substandard— 508 — 16,923 — — — 17,431 
Total73,330 5,198 6,685 29,274 1,274 70,203 — 185,964 
Current period charge-offs— — — — — — — — 
Warehouse finance
Pass— — — — — — 517,847 517,847 
Total— — — — — — 517,847 517,847 
Current period charge-offs— — — — — — — — 
Total loans and leases
Pass727,446 621,029 316,217 117,862 80,750 135,421 1,043,551 3,042,276 
Watch54,846 65,301 35,334 37,928 4,092 5,378 283,791 486,670 
Special mention44,617 3,356 9,121 14,928 7,412 365 13,458 93,257 
Substandard10,835 47,309 33,418 33,303 30,482 14,368 11,227 180,942 
Doubtful4,314 1,650 2,302 951 207 865 12 10,301 
Total$842,058 $738,645 $396,392 $204,972 $122,943 $156,397 $1,352,039 $3,813,446 
Current period charge-offs$200 $4,541 $8,754 $3,783 $2,391 $715 $2,453 $22,837 

Past due loans and leases were as follows:

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
September 30, 2025
Loans held for sale$2,319 $1,860 $1,521 $5,700 $173,721 $179,421 $1,521 $— $1,521 
Term lending29,283 8,869 30,734 68,886 2,233,654 2,302,540 4,420 38,959 43,379 
Asset-based lending— — — — 593,265 593,265 — 24,327 24,327 
Factoring— — — — 217,501 217,501 — 1,291 1,291 
Lease financing2,222 316 5,291 7,829 141,407 149,236 1,067 4,268 5,335 
SBA/USDA— 8,876 17,808 26,684 484,804 511,488 7,413 12,571 19,984 
Other commercial finance— — — — 149,939 149,939 — — — 
Commercial finance31,505 18,061 53,833 103,399 3,820,570 3,923,969 12,900 81,416 94,316 
Consumer finance909 778 826 2,513 90,806 93,319 826 — 826 
Tax services— — 2,477 2,477 55 2,532 2,477 — 2,477 
Warehouse finance— — — — 645,186 645,186 — — — 
Total loans and leases held for investment32,414 18,839 57,136 108,389 4,556,617 4,665,006 16,203 81,416 97,619 
Total loans and leases$34,733 $20,699 $58,657 $114,089 $4,730,338 $4,844,427 $17,724 $81,416 $99,140 

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
September 30, 2024
Loans held for sale$2,266 $1,361 $1,050 $4,677 $687,011 $691,688 $1,050 $— $1,050 
Term lending19,776 5,124 17,694 42,594 1,512,047 1,554,641 1,923 23,462 25,385 
Asset-based lending— — — — 471,897 471,897 — — — 
Factoring— — — — 362,295 362,295 — 29 29 
Lease financing3,605 1,595 109 5,309 146,865 152,174 60 746 806 
SBA/USDA— 952 2,172 3,124 565,504 568,628 331 2,175 2,506 
Other commercial finance— — — — 185,964 185,964 — — — 
Commercial finance23,381 7,671 19,975 51,027 3,244,572 3,295,599 2,314 26,412 28,726 
Consumer finance3,962 3,186 3,053 10,201 238,599 248,800 3,053 — 3,053 
Tax services— — 8,733 8,733 92 8,825 8,733 — 8,733 
Warehouse finance— — — — 517,847 517,847 — — — 
Total loans and leases held for investment27,343 10,857 31,761 69,961 4,001,110 4,071,071 14,100 26,412 40,512 
Total loans and leases$29,609 $12,218 $32,811 $74,638 $4,688,121 $4,762,759 $15,150 $26,412 $41,562 
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
September 30, 202520252024202320222021Prior
Term lending$— $1,383 $23,220 $3,469 $10,887 $— $— $38,959 $18,072 
Asset-based lending— — — — — — 24,327 24,327 2,110 
Factoring— — — — — — 1,291 1,291 — 
Lease financing— — 150 — 3,511 607 — 4,268 3,985 
SBA/USDA221 4,605 7,675 — 22 48 — 12,571 — 
Commercial finance221 5,988 31,045 3,469 14,420 655 25,618 81,416 24,167 
Total nonaccrual loans and leases$221 $5,988 $31,045 $3,469 $14,420 $655 $25,618 $81,416 $24,167 

Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotalNonaccrual with No ACL
September 30, 202420242023202220212020Prior
Term lending$9,281 $3,433 $5,369 $1,386 $625 $3,368 $— $23,462 $2,579 
Factoring— — — — — — 29 29 — 
Lease financing— 577 11 46 2 110 — 746 — 
SBA/USDA— 738 55 55 742 585 — 2,175 681 
Commercial finance9,281 4,748 5,435 1,487 1,369 4,063 29 26,412 3,260 
Total nonaccrual loans and leases$9,281 $4,748 $5,435 $1,487 $1,369 $4,063 $29 $26,412 $3,260 
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
September 30, 202520252024202320222021Prior
Loans held for sale$521 $835 $150 $15 $— $— $— $1,521 
Term lending— 2,942 — — — 1,478 — 4,420 
Lease financing277 — — 789 1 — — 1,067 
SBA/USDA1,139 495 5,683 — — 96 — 7,413 
Commercial finance1,416 3,437 5,683 789 1 1,574 — 12,900 
Consumer finance241 348 180 44 13 — — 826 
Tax services2,477 — — — — — — 2,477 
Total loans and leases held for investment4,134 3,785 5,863 833 14 1,574 — 16,203 
Total 90 days or more delinquent and accruing$4,655 $4,620 $6,013 $848 $14 $1,574 $— $17,724 

Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
September 30, 202420242023202220212020Prior
Loans held for sale$1,031 $19 $— $— $— $— $— $1,050 
Term lending— 621 354 719 217 12 — 1,923 
Lease financing— — — 2 58 — — 60 
SBA/USDA— — 331 — — — — 331 
Commercial finance— 621 685 721 275 12 — 2,314 
Consumer finance736 1,841 388 88 — — — 3,053 
Tax services8,733 — — — — — — 8,733 
Total loans and leases held for investment9,469 2,462 1,073 809 275 12 — 14,100 
Total 90 days or more delinquent and accruing$10,500 $2,481 $1,073 $809 $275 $12 $— $15,150 

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 non-accrual until later delinquency, usually 120 days past due.

The following table provides the average recorded investment in nonaccrual loans and leases:

Fiscal Year Ended September 30,
(Dollars in thousands)20252024
Term lending$29,965 $20,133 
Asset-based lending4,789 4,896 
Factoring915 2,079 
Lease financing3,804 1,176 
SBA/USDA5,436 2,230 
Commercial finance44,909 30,514 
Total loans and leases$44,909 $30,514 

The recognized interest income on the Company's nonaccrual loans and leases for the fiscal years ended September 30, 2025 and 2024 was not significant.
Modifications made to borrowers experiencing financial difficulty during the fiscal year ended September 30, 2025 were $6.7 million in the commercial finance loan portfolio. The types of modifications granted were term extensions and reduced payments. Modifications made to borrowers experiencing financial difficulty during the fiscal year ended September 30, 2024 were $9.8 million in the commercial finance loan portfolio. The types of modifications granted were term extensions and reduced payments.

During the fiscal years ended September 30, 2025 and 2024, the Company had $5.9 million and $1.5 million of commercial finance loans where a modification was granted in the previous 12 months in which there was a payment default, respectively. At September 30, 2025 and 2024, $5.9 million of modifications granted were in the 60 to 89 days past due category and $1.5 million of modifications granted were in the over 89 days past due category, respectively.
v3.25.3
EARNINGS PER COMMON SHARE ("EPS")
 12 Months Ended
Sep. 30, 2025
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 performance share units ("PSUs") and 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.

Fiscal Year Ended September 30,
(Dollars in thousands, except per share data)202520242023
Basic income per common share:
Net income attributable to Pathward Financial, Inc.$185,872 $183,219 $143,266 
Dividends and undistributed earnings allocated to participating securities(691)(1,678)(2,148)
Basic net earnings available to common stockholders185,181 181,541 141,118 
Undistributed earnings allocated to nonvested restricted stockholders673 1,631 2,067 
Reallocation of undistributed earnings to nonvested restricted stockholders(670)(1,629)(2,060)
Diluted net earnings available to common stockholders$185,184 $181,543 $141,125 
Total weighted-average basic common shares outstanding23,397,489 25,169,937 26,833,079 
Effect of dilutive securities(1)
PSUs125,140 31,813 92,527 
Total effect of dilutive securities125,140 31,813 92,527 
Total weighted-average diluted common shares outstanding23,522,629 25,201,750 26,925,606 
Net earnings per common share:
Basic earnings per common share$7.91 $7.21 $5.26 
Diluted earnings per common share(2)
$7.87 $7.20 $5.24 
(1) Represents the effect of the assumed vesting of PSUs and restricted stock, as applicable, utilizing the treasury stock method.
(2) Excluded from the computation of diluted earnings per share for the fiscal years ended September 30, 2025, 2024, and 2023, respectively, were 87,324, 232,601, and 408,477 weighted average shares of nonvested restricted stock because their inclusion would be anti-dilutive.
v3.25.3
PREMISES, FURNITURE, AND EQUIPMENT, NET
 12 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
PREMISES, FURNITURE, AND EQUIPMENT, NET PREMISES, FURNITURE, AND EQUIPMENT, NET
 
Premises, furniture, and equipment consists of the following:

(Dollars in thousands)September 30, 2025September 30, 2024
Land$1,354 $1,354 
Buildings22,203 21,685 
Furniture, fixtures, and equipment69,456 63,823 
93,013 86,862 
Less: accumulated depreciation and amortization(52,381)(47,807)
Net book value$40,632 $39,055 

Depreciation expense of premises, furniture and equipment included in building and software was approximately $9.6 million, $10.2 million and $11.1 million for the fiscal years ended September 30, 2025, 2024 and 2023, respectively.
RENTAL EQUIPMENT, NET
Rental equipment consists of the following:

(Dollars in thousands)September 30, 2025September 30, 2024
Computers and IT networking equipment$11,723 $21,308 
Motor vehicles and other141,101 140,920 
Other furniture and equipment26,040 38,755 
Solar panels and equipment111,447 128,296 
Total290,311 329,279 
Accumulated depreciation(131,530)(124,987)
Unamortized initial direct costs665 1,047 
Net book value$159,446 $205,339 

Future minimum lease payments expected to be received for operating leases at September 30, 2025 were as follows:

(Dollars in thousands)
2026$34,404 
202726,647 
202818,295 
202912,965 
20303,677 
Thereafter2,808 
Total $98,796 
v3.25.3
RENTAL EQUIPMENT, NET
 12 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
RENTAL EQUIPMENT, NET PREMISES, FURNITURE, AND EQUIPMENT, NET
 
Premises, furniture, and equipment consists of the following:

(Dollars in thousands)September 30, 2025September 30, 2024
Land$1,354 $1,354 
Buildings22,203 21,685 
Furniture, fixtures, and equipment69,456 63,823 
93,013 86,862 
Less: accumulated depreciation and amortization(52,381)(47,807)
Net book value$40,632 $39,055 

Depreciation expense of premises, furniture and equipment included in building and software was approximately $9.6 million, $10.2 million and $11.1 million for the fiscal years ended September 30, 2025, 2024 and 2023, respectively.
RENTAL EQUIPMENT, NET
Rental equipment consists of the following:

(Dollars in thousands)September 30, 2025September 30, 2024
Computers and IT networking equipment$11,723 $21,308 
Motor vehicles and other141,101 140,920 
Other furniture and equipment26,040 38,755 
Solar panels and equipment111,447 128,296 
Total290,311 329,279 
Accumulated depreciation(131,530)(124,987)
Unamortized initial direct costs665 1,047 
Net book value$159,446 $205,339 

Future minimum lease payments expected to be received for operating leases at September 30, 2025 were as follows:

(Dollars in thousands)
2026$34,404 
202726,647 
202818,295 
202912,965 
20303,677 
Thereafter2,808 
Total $98,796 
v3.25.3
GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The Company held a total of $297.9 million of goodwill at September 30, 2025. The recorded goodwill is a result of multiple business combinations that occurred from 2015 to 2018. During the fiscal year ended September 30, 2025, the Company closed on the sale of the commercial insurance premium finance business and derecognized the goodwill associated with that reporting unit. The goodwill was included in the carrying amount of the disposed business. See Note 2. Divestitures to the Consolidated Financial Statements for further information.
The changes in the carrying amount of the Company's goodwill were as follows:

(Dollars in Thousands)ConsumerCommercialCorporate Services/OtherTotal
September 30, 2024$87,145 $222,360 $— $309,505 
Divestiture— (11,577)— (11,577)
September 30, 2025$87,145 $210,783 $— $297,928 
September 30, 2023$87,145 $222,360 $— $309,505 
September 30, 2024$87,145 $222,360 $— $309,505 

The changes in the carrying amount of the Company’s intangible assets during the fiscal year ended September 30, 2025 include certain intangibles disposed of as part of the commercial insurance premium finance business sale. The relevant intangibles were included in the carrying amount of the disposed business. See Note 2. Divestitures to the Consolidated Financial Statements for further information.

(Dollars in thousands)
Trademark(1)
Non-Compete
Customer Relationships(2)
All Others(3)
Total
September 30, 2024$6,422 $— $6,566 $3,601 $16,589 
Amortization during the period(1,076)— (1,824)(556)(3,456)
Write-offs and disposals during the period— — (631)— (631)
September 30, 2025$5,346 $— $4,111 $3,045 $12,502 
Gross carrying amount$13,774 $301 $70,338 $7,732 $92,145 
Accumulated amortization(8,428)(301)(55,309)(4,534)(68,572)
Accumulated impairment— — (10,918)(153)(11,071)
September 30, 2025$5,346 $— $4,111 $3,045 $12,502 
September 30, 2023$7,477 $— $9,110 $4,133 $20,720 
Amortization during the period(1,055)— (2,544)(532)(4,131)
September 30, 2024$6,422 $— $6,566 $3,601 $16,589 
Gross carrying amount$13,774 $301 $77,578 $7,732 $99,385 
Accumulated amortization(7,352)(301)(60,094)(3,978)(71,725)
Accumulated impairment— — (10,918)(153)(11,071)
September 30, 2024$6,422 $— $6,566 $3,601 $16,589 
(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 subsequent fiscal years at September 30, 2025 was as follows:

(Dollars in thousands)
2026$3,103 
20272,483 
20282,194 
20291,581 
20301,473 
Thereafter1,668 
Total anticipated intangible amortization$12,502 

There were no impairments to intangible assets for the fiscal years ended September 30, 2025 and 2024. Intangible impairment expense is recorded within the impairment expense line of the Consolidated Statements of Operations.
v3.25.3
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES
 12 Months Ended
Sep. 30, 2025
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 $22.7 million and $24.4 million at September 30, 2025 and 2024, respectively.

Operating lease liabilities, included in accrued expenses and other liabilities, were $24.0 million and $26.0 million at September 30, 2025 and 2024, respectively.

The decreases in lease ROU assets and liabilities relate to normal amortization and lease payments made during the fiscal year ended September 30, 2025, but also include adjustments for lease assignments that occurred as a result of the commercial insurance premium finance business sale during the fiscal 2025 first quarter. Two office locations, Newport Beach, California and Addison, Texas, were included in the sale of the commercial insurance premium finance business and the relevant lease ROU assets and liabilities are no longer reflected in the Company's Condensed Consolidated Financial Statements after the transaction closed. The derecognition of the relevant lease ROU assets and liabilities resulted in a $0.5 million gain on remeasurement that was recognized as part of the overall gain on divestitures from the commercial insurance premium finance business sale. See Note 2. Divestitures to the Condensed Consolidated Financial Statements for further information.

Undiscounted future minimum operating lease payments and a reconciliation to the amount recorded as operating lease liabilities at September 30, 2025 were as follows:

(Dollars in thousands)
2026$3,441 
20273,356 
20283,447 
20293,486 
20303,276 
Thereafter9,831 
Total undiscounted future minimum lease payments 26,837 
Discount(2,881)
Total operating lease liabilities$23,956 
The weighted-average discount rate and remaining lease term for operating leases were as follows:

September 30, 2025September 30, 2024
Weighted-average discount rate2.65 %2.45 %
Weighted-average remaining lease term (years)7.978.78

The components of total lease costs for operating leases were as follows:

Fiscal Year Ended September 30,
(Dollars in thousands)202520242023
Lease expense$3,807 $3,997 $3,951 
Short-term and variable lease cost78 75 142 
Sublease income(1,377)(1,300)(1,409)
Total lease cost for operating leases$2,508 $2,772 $2,684 
v3.25.3
TIME CERTIFICATES OF DEPOSIT
 12 Months Ended
Sep. 30, 2025
Deposits [Abstract]  
TIME CERTIFICATES OF DEPOSIT TIME CERTIFICATES OF DEPOSIT
Time certificates of deposit in denominations of $250,000 or more were approximately $2.6 million and $4.1 million at September 30, 2025 and 2024, respectively.

Scheduled maturities of time certificates of deposit at September 30, 2025 were as follows for the fiscal years ending:

(Dollars in thousands)
2026$2,636 
2027— 
2028— 
2029— 
2030— 
Thereafter— 
Total(1)
$2,636 
(1) As of September 30, 2025, the Company had no certificates of deposit recorded in wholesale deposits on the Consolidated Statements of Financial Condition.

Under the Dodd-Frank Act, IRA and non-IRA deposit accounts are insured up to $250,000 by the DIF under management of the FDIC.
v3.25.3
SHORT-TERM AND LONG-TERM BORROWINGS
 12 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
SHORT-TERM AND LONG-TERM BORROWINGS SHORT-TERM AND LONG-TERM BORROWINGS
Short-Term Borrowings

(Dollars in thousands)September 30, 2025September 30, 2024
Overnight fed funds purchased$9,000 $377,000 
Total$9,000 $377,000 

The Company had $9.0 million of overnight federal funds purchased from the FHLB and none from other financial institutions at September 30, 2025, as compared to $257.0 million from the FHLB and $120.0 million from other financial institutions at September 30, 2024.

The Bank has executed blanket pledge agreements whereby the Bank assigns, transfers, and pledges to the FHLB and grants to the FHLB a security interest in real estate and securities collateral. The Bank has the right to use, commingle, and dispose of the collateral it has assigned to the FHLB. Under the agreement, the Bank must maintain “eligible collateral” that has a “lending value” at least equal to the “required collateral amount,” all as defined by the agreement.
At September 30, 2025 and 2024, the Bank pledged securities with fair values of approximately $955.3 million and $1.04 billion, respectively, to be used against FHLB advances as needed. In addition, qualifying loans of approximately $223.0 million were pledged as collateral at September 30, 2025 compared to $136.9 million at September 30, 2024.

The Company had no securities sold under agreements to repurchase at September 30, 2025 and 2024.

Long-Term Borrowings

(Dollars in thousands)September 30, 2025September 30, 2024
Trust preferred securities$13,661 $13,661 
Subordinated debentures, net of issuance costs19,795 19,693 
Total$33,456 $33,354 

Scheduled maturities of the Company's long-term borrowings at September 30, 2025 were as follows for the fiscal years ending:

(Dollars in thousands)Trust preferred securitiesSubordinated debenturesOther long-term borrowingsTotal
2026$— $— $— $— 
2027— — — — 
2028— — — — 
2029— — — — 
2030— — — — 
Thereafter13,661 19,795 — 33,456 
Total long-term borrowings$13,661 $19,795 $— $33,456 

Certain trust preferred securities are due to First Midwest Financial Capital Trust I, a 100%-owned nonconsolidated subsidiary of the Company. The securities were issued in 2001 in conjunction with the Trust’s issuance of 10,000 shares of trust preferred securities. The securities bear the same interest rate and terms as the trust preferred securities. The securities are included on the Consolidated Statements of Financial Condition as liabilities.

The Company issued all of the 10,310 authorized shares of trust preferred securities of First Midwest Financial Capital Trust I holding solely securities. Distributions are paid semi-annually. Cumulative cash distributions are calculated at 6-month CME Term SOFR plus 0.42826% tenor spread adjustment plus 3.75% (8.03% at September 30, 2025 and 8.43% at September 30, 2024), not to exceed 12.5%. The Company may, at one or more times, defer interest payments on the capital securities for up to 10 consecutive semi-annual periods, but not beyond July 25, 2031. At the end of any deferral period, all accumulated and unpaid distributions are required to be paid. The capital securities are required to be redeemed on July 25, 2031; however, the Company has a semi-annual option to shorten the maturity date. The redemption price is $1,000 per capital security plus any accrued and unpaid distributions to the date of redemption.

Holders of the capital securities have no voting rights, are unsecured and rank junior in priority of payment to all of the Company’s indebtedness and senior to the Company’s common stock.

Although the securities issued by the Trust are not included as a component of stockholders’ equity, the securities are treated as capital for regulatory purposes, subject to certain limitations.

Through the Crestmark Acquisition, the Company acquired $3.4 million in floating rate capital securities due to Crestmark Capital Trust I, a 100%-owned nonconsolidated subsidiary of the Company. The subordinated debentures bear interest at 3-month CME Term SOFR plus 0.26161% tenor spread adjustment plus 3.00%, have a stated maturity of 30 years and are redeemable by the Company at par, with regulatory approval. The interest rate is reset quarterly at distribution dates in February, May, August, and November. The interest rate as of September 30, 2025 was 7.24%. The Company has the option to defer interest payments on the subordinated debentures from time to time for a period not to exceed five consecutive years.
On September 23, 2022, the Company completed a private placement of $20.0 million of its 6.625% fixed-to-floating rate subordinated debentures due 2032 to certain qualified institutional buyers and accredited investors. These notes will mature on September 30, 2032, unless earlier redeemed. Beginning on September 30, 2027, the notes may be redeemed, in whole or in part, at the Company's option subject to regulatory approval, on any scheduled interest payment date. Prior to September 30, 2027, the notes may be redeemed, in whole but not in part, at any time upon certain other specified events. At September 30, 2025, the Company had $19.8 million in aggregate principal amount in subordinated debentures remains outstanding.
v3.25.3
STOCKHOLDERS' EQUITY
 12 Months Ended
Sep. 30, 2025
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 was effective from September 3, 2021 through September 30, 2024, with 146,435 shares authorized by this repurchase program not repurchased when it expired. 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 fiscal years ended September 30, 2025 and 2024, the Company repurchased 2,062,184 and 1,520,001 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 credited to paid-in capital up to the par value of those shares. When the repurchase price is greater than the original issue proceeds, the excess is charged to retained earnings. As of September 30, 2025, 4,937,816 shares of common stock remained available for repurchase.
For the fiscal years ended September 30, 2025 and 2024, the Company also repurchased 66,446 and 126,221 shares, or $4.6 million and $6.1 million, of common stock, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock.

Repurchase 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 zero and 129,929 shares of common stock held in treasury during the fiscal years ended September 30, 2025 and 2024, respectively.
v3.25.3
STOCK COMPENSATION
 12 Months Ended
Sep. 30, 2025
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 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. In addition, beginning in fiscal year 2025, awards were made to certain employees as time-vesting restricted stock units settleable in shares ("RSUs"). These shares and RSUs generally vest at various times ranging from immediately to three years based on circumstances at time of grant. The grant date fair value is determined based on the fair market value of the Company’s stock on the grant date, determined in accordance with applicable accounting standards. Director shares are issued to the Company’s directors, and these shares have historically vested from immediately 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. The awards generally 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 PSU earned is converted into one share of common stock.

The fair value of the PSUs (other than PSUs subject to a market condition) 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 generally vest in equal installments over eight years. Finally, awards of shares or RSUs may be made at other times during the fiscal year for new hire, promotion, or retention awards.

The following tables show the activity of share awards (including shares of restricted stock subject to vesting, fully-vested restricted stock, RSUs, and PSUs) granted, exercised or forfeited under all of the Company’s incentive plans during the fiscal years ended September 30, 2025 and 2024.

Number of SharesWeighted Average Fair Value at Grant
Restricted Stock Awards
Nonvested shares outstanding, September 30, 2024248,670 $41.19 
Granted15,600 77.42 
Vested(179,669)41.24 
Forfeited or expired(2,904)48.17 
Nonvested shares outstanding, September 30, 202581,697 $47.77 
Nonvested shares outstanding, September 30, 2023370,151 $35.87 
Granted181,117 50.61 
Vested(288,734)40.22 
Forfeited or expired(13,864)42.49 
Nonvested shares outstanding, September 30, 2024248,670 $41.19 
RSUs
Nonvested shares outstanding, September 30, 2024— $— 
Granted97,062 79.20 
Vested— — 
Forfeited or expired(4,442)79.39 
Nonvested shares outstanding, September 30, 202592,620 $79.19 

Number of UnitsWeighted Average Fair Value at Grant
PSUs
PSUs outstanding, September 30, 2024142,462 $47.24 
Granted(1)
34,208 79.47 
Vested(34,304)57.21 
Forfeited or expired— — 
PSUs outstanding, September 30, 2025142,366 $52.59 
PSUs outstanding, September 30, 2023155,804 $41.20 
Granted(2)
52,125 49.61 
Vested(60,984)55.47 
Forfeited or expired(4,483)44.59 
PSUs outstanding, September 30, 2024142,462 $47.24 
(1) The activity in this table includes 34,304 shares related to the fiscal year 2022 PSUs, which are included in this table under the assumption of a target performance achievement. The final performance was assessed after September 30, 2024, resulted in an achievement greater than target, and an additional 6,847 shares were allocated to the participants in the plan.
(2) The activity in this table includes 60,984 shares related to the fiscal year 2021 PSUs, 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 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.

The following table shows the effect to income, net of tax benefits, of share-based compensation expense recorded:

Fiscal Year Ended September 30,
(Dollars in thousands)202520242023
Total employee stock-based compensation expense recognized in income, net of tax effects of $1,651, $1,873, and $1,838, respectively
$7,856 $8,416 $8,465 

As of September 30, 2025, stock-based compensation expense not yet recognized in income totaled $7.7 million, which is expected to be recognized over a weighted-average remaining period of 1.64 years.
v3.25.3
INCOME TAXES
 12 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company and its subsidiaries file a consolidated federal income tax return on a fiscal year basis. The provision for income taxes were as follows:

Fiscal Year Ended September 30,
(Dollars in thousands)202520242023
Federal:
Current$10,407 $9,770 $8,792 
Deferred15,754 13,276 (6,688)
26,161 23,046 2,104 
State:   
Current9,060 8,172 7,935 
Deferred1,045 2,890 (452)
10,105 11,062 7,483 
Income tax expense$36,266 $34,108 $9,587 
The tax effects of the Company's temporary differences that give rise to significant portions of its deferred tax assets and liabilities were:

(Dollars in thousands)September 30, 2025September 30, 2024
Deferred tax assets:
Allowance for credit losses$12,938 $17,647 
Deferred compensation4,511 4,351 
Stock based compensation2,084 2,402 
Valuation adjustments78 175 
General business credits(1)
49,070 55,471 
Accrued expenses2,807 2,763 
Lease liability5,930 6,503 
Net unrealized loss on securities available for sale47,167 50,819 
Premises and equipment4,998 3,939 
Deferred income2,386 — 
Other assets2,276 3,940 
 134,245 148,010 
Deferred tax liabilities:  
Intangibles(8,366)(7,859)
Leased assets(80,012)(76,016)
Right-of-use assets(5,678)(6,218)
Life insurance redemption(3,493)— 
Other liabilities(466)(1,346)
(98,015)(91,439)
Net deferred tax assets$36,230 $56,571 
(1) The general business credits are investment tax credits generated from qualified solar energy property placed in service during the fiscal years ended September 30, 2025 and 2024. These credits will begin to expire on September 30, 2041.

As of September 30, 2025, the Company had a gross deferred tax asset of $3.6 million for separate company state cumulative net operating loss carryforwards, for which $3.6 million was reserved. At September 30, 2024, the Company had a gross deferred tax asset of $3.0 million for separate company state cumulative net operating loss carryforwards, for which $3.0 million was reserved. These state operating loss carryforwards will expire in various subsequent periods.

In general, management believes that the realization of its deferred tax assets is more likely than not based on the expectations as to future taxable income; therefore, there was no deferred tax valuation allowance at September 30, 2025, or 2024 with the exception of the state cumulative net operating loss carryforwards discussed above.
The table below reconciles the statutory federal income tax expense and rate to the effective income tax expense and rate for the fiscal years presented. The Company's effective tax rate is calculated by dividing income tax expense by income before income tax expense.

Fiscal Year Ended September 30,
202520242023
(Dollars in thousands)AmountRateAmountRateAmountRate
Statutory federal income tax expense and rate$46,841 21.0 %$45,910 21.0 %$32,559 21.0 %
Change in tax rate resulting from:
State income taxes net of federal benefits7,983 3.6 %8,678 4.0 %5,999 3.9 %
162(m) disallowance1,540 0.7 %1,874 0.9 %919 0.6 %
Tax exempt income(636)(0.3)%(690)(0.3)%(783)(0.5)%
General business credits(20,773)(9.3)%(21,132)(9.7)%(28,633)(18.5)%
Life insurance redemption3,116 1.4 %— — %— — %
Other, net(1,805)(0.8)%(532)(0.2)%(474)(0.3)%
Income tax expense$36,266 16.3 %$34,108 15.7 %$9,587 6.2 %

The Company uses the flow through method of accounting for investment tax credits under which the credits are recognized as a reduction to income tax expense in the period in which the credit arises. During the fiscal years ended September 30, 2025, 2024, and 2023, $19.7 million, $19.7 million, and $27.4 million in investment tax credits were recognized as a reduction to income tax expense, respectively.

The Company’s tax reserves reflect management’s judgment as to the resolution of the issues involved if subject to judicial review. While the Company believes that its reserves are adequate to cover reasonably expected tax risks, there can be no assurance that, in all instances, an issue raised by a tax authority will be resolved at a financial cost that does not exceed its related reserve. With respect to these reserves, the Company’s income tax expense would include (i) any changes in tax reserves arising from material changes during the period in the facts and circumstances surrounding a tax issue, and (ii) any difference from the Company’s tax position as recorded in the Consolidated Financial Statements and the final resolution of a tax issue during the period.

The tax years ended September 30, 2022 and later remain subject to examination by the Internal Revenue Service. For state purposes, the tax years ended September 30, 2022 and later remain open for examination, with few exceptions.
 
A reconciliation of the beginning and ending balances for liabilities associated with unrecognized tax benefits follows:

(Dollars in thousands)September 30, 2025September 30, 2024
Balance at beginning of fiscal year$577 $521 
Additions (reductions) for tax positions related to prior years(78)56 
Balance at end of fiscal year$499 $577 

The total amount of unrecognized tax benefits that, if recognized, would impact the effective rate was $499,000 as of September 30, 2025. The Company recognizes interest related to unrecognized tax benefits as a component of income tax expense. The amount of accrued interest related to unrecognized tax benefits was $57,000 as of September 30, 2025. The Company does not anticipate any significant change in the total amount of unrecognized tax benefits within the next 12 months.
v3.25.3
CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS
 12 Months Ended
Sep. 30, 2025
CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS [Abstract]  
CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS
The Company and the Bank are required to comply with the regulatory capital rules administered by federal banking agencies (the "Capital Rules"). Under the Capital Rules and the regulatory framework for prompt corrective action, the Company and Bank must meet specific capital guidelines that involve quantitative measures of the Company’s and Bank’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s and Bank’s capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors.

The Capital Rules require the Company and the Bank to maintain minimum ratios (set forth in the table below) of total risk-based capital and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), and a leverage ratio consisting of Tier 1 capital (as defined) to average assets (as defined). At September 30, 2025, the Company and the Bank exceeded federal regulatory minimum capital requirements to be classified as well-capitalized under the prompt corrective action requirements. The Company and the Bank took the AOCI opt-out election; under the rule, non-advanced approach banking organizations were given a one-time option to exclude certain AOCI components. 

The table below includes certain non-GAAP financial measures that are used by investors, analysts and bank regulatory agencies to assess the capital position of financial services companies. Management reviews these measures along with other measures of capital as part of its financial analyses and has included this non-GAAP financial information, and the corresponding reconciliation to total equity.

 CompanyBankMinimum
to be Adequately Capitalized Under Prompt Corrective Action Provisions		Minimum to be Well Capitalized Under Prompt Corrective Action Provisions
September 30, 2025
Tier 1 leverage capital ratio9.79 %10.00 %4.00 %5.00 %
Common equity Tier 1 capital ratio12.70 13.23 4.50 6.50 
Tier 1 capital ratio12.95 13.23 6.00 8.00 
Total capital ratio14.27 14.19 8.00 10.00 
September 30, 2024    
Tier 1 leverage capital ratio9.05 %9.22 %4.00 %5.00 %
Common equity Tier 1 capital ratio12.26 12.78 4.50 6.50 
Tier 1 capital ratio12.52 12.78 6.00 8.00 
Total capital ratio14.14 14.03 8.00 10.00 
The following table provides a reconciliation of the amounts included in the table above for the Company.

Standardized Approach(1)
(Dollars in thousands)
September 30, 2025
September 30, 2024
Total stockholders' equity$857,454 $822,189 
Adjustments:
LESS: Goodwill, net of associated deferred tax liabilities285,158 296,105 
LESS: Certain other intangible assets18,077 18,018 
LESS: Net deferred tax assets from operating loss and tax credit carry-forwards5,733 15,624 
LESS: Net unrealized (losses) on available for sale securities(143,190)(152,328)
LESS: Noncontrolling interest(591)(277)
ADD: Adoption of Accounting Standards Update 2016-131,788 3,576 
Common Equity Tier 1(1)
694,055 648,623 
Long-term borrowings and other instruments qualifying as Tier 113,661 13,661 
Tier 1 minority interest not included in common equity Tier 1 capital(307)(150)
Total Tier 1 capital707,409 662,134 
Allowance for credit losses52,455 66,140 
Subordinated debentures, net of issuance costs19,796 19,693 
Total capital$779,660 $747,967 
(1) Capital ratios were determined using the Basel III capital rules that became effective on January 1, 2015. Basel III revised the definition of capital, increased minimum capital ratios, and introduced a minimum common equity tier 1 capital ratio; those changes were fully phased in through the end of 2021.

The Company and the Bank are required to maintain a capital conservation buffer above the minimum risk-based capital requirements in order to avoid certain limitations on capital distributions, stock repurchases and discretionary bonus payments to executive officers. The capital conservation buffer is exclusively composed of Common Equity Tier 1 capital, and it applies to each of the three risk-based capital ratios but not the leverage ratio. The required Common Equity Tier 1 risk-based, Tier 1 risk-based and total risk-based capital ratios with the buffer are currently 7.0%, 8.5% and 10.5%, respectively.

Based on current and expected continued profitability and subject to continued access to capital markets, we believe that the Company and the Bank will continue to meet the capital conservation buffer of 2.5% in addition to required minimum capital ratios.
v3.25.3
REVENUE FROM CONTRACTS WITH CUSTOMERS
 12 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACTS WITH CUSTOMERS
Topic 606 applies to all contracts with customers unless such revenue is specifically addressed under existing guidance. 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 17. Segment Reporting to the Consolidated Financial Statements.
(Dollars in thousands)ConsumerCommercialCorporate Services/OtherConsolidated Company
Fiscal Year Ended September 30,20252024202520242025202420252024
Net interest income(1)
$300,013 $279,610 $185,497 $194,075 $26,284 $24,140 $511,794 $497,825 
Noninterest income:
Refund transfer product fees43,980 40,178 — — — — 43,980 40,178 
Refund advance and other tax fee income(1)
48,705 43,473 — — — — 48,705 43,473 
Card and deposit fees124,169 124,949 771 967 31 27 124,971 125,943 
Rental income(1)
— — 50,804 53,443 882 714 51,686 54,157 
(Loss) on sale of securities(1)
— — — — (25,084)— (25,084)— 
Gain on sale of divestitures(1)
— — — — 15,044 — 15,044 — 
Secondary market revenue(1)
59 (5)23,634 5,925 13,329 — 37,022 5,920 
Gain (loss) on sale of other(1)
— — 4,632 1,777 519 4,972 5,151 6,749 
Other income(1)
10,335 8,512 11,063 9,636 5,227 5,019 26,625 23,167 
Total noninterest income227,248 217,107 90,904 71,748 9,948 10,732 328,100 299,587 
Revenue$527,261 $496,717 $276,401 $265,823 $36,232 $34,872 $839,894 $797,412 
(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 fiscal year ended September 30, 2025.

Refund Transfer Product Fees. Refund transfer fees are specific to the Partner Solutions 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 Partner Solutions business line and consist 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 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 Partner Solutions 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 partner solutions, 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 Partner Solutions 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 monthly servicing fees the Company recognizes for off-balance sheet custodial 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 FDIC. The servicing fee is typically reflective of the EFFR.
v3.25.3
SEGMENT REPORTING
 12 Months Ended
Sep. 30, 2025
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 ("CODM") to appropriately allocate entity resources and evaluate performance. The Company has identified the CODM to be the Chief Executive Officer ("CEO") of Pathward Financial, Inc.

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 Company evaluated the listed operating segments based on their business processes, consumers, and variety of economic characteristics. The Partner Solutions 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 CODM reviews the performance and aggregates resources based on various factors but primarily through the evaluation of income (loss) before income tax expense. The significant expenses that have been deemed meaningful to the segments and regularly reported to the CODM are summarized below. These expenses are directly attributable to each of the three business segments. Shared services are an area of focus for the Company and as such, the table below includes the significant selling, general, and administrative ("SG&A") allocations of such shared services.
The following tables present segment data for the Company:

Fiscal Year Ended September 30, 2025
(Dollars in thousands)ConsumerCommercialCorporate Services/OtherTotal
Interest and dividend income$317,686 $307,348 $(101,642)$523,392 
Interest expense17,673 121,851 (127,926)11,598 
Net interest income300,013 185,497 26,284 511,794 
Provision for credit loss28,587 28,059 128 56,774 
Net interest income after provision for credit loss271,426 157,438 26,156 455,020 
Noninterest income227,248 90,904 9,948 328,100 
Noninterest expense
Compensation and benefits29,764 48,419 122,312 200,495 
Building and software9,384 9,320 23,390 42,094 
Operating lease equipment depreciation — 45,636 — 45,636 
Rate related card expenses104,081 — — 104,081 
Other card expenses34,321 — 41 34,362 
Tax product expenses12,775 — — 12,775 
Loan expenses1,128 16,104 — 17,232 
Legal and consulting2,404 4,003 30,062 36,469 
SG & A intercompany allocations70,348 29,312 (99,660)— 
Consumer lending program expenses(1)
20,034 — — 20,034 
Other expenses14,256 8,741 23,892 46,889 
Total noninterest expense298,495 161,535 100,037 560,067 
Income (loss) before income tax expense200,179 86,807 (63,933)223,053 
Total assets484,988 4,345,546 2,341,810 7,172,344 
Total goodwill87,145 210,783 — 297,928 
Total deposits5,665,100 122 221,725 5,886,947 
(1) Consumer lending program expenses relate to the excess interest that gets passed to our partners for loans originated and retained by the Company under the various partner programs. Refer to Derivative Instruments in Note 1. Significant Accounting Policies for additional information on these expenses.
Fiscal Year Ended September 30, 2024
(Dollars in thousands)ConsumerCommercialCorporate Services/OtherTotal
Interest and dividend income$297,411 $310,599 $(88,952)$519,058 
Interest expense17,801 116,524 (113,092)21,233 
Net interest income279,610 194,075 24,140 497,825 
Provision for credit loss42,390 15,571 140 58,101 
Net interest income after provision for credit loss237,220 178,504 24,000 439,724 
Noninterest income217,107 71,748 10,732 299,587 
Noninterest expense
Compensation and benefits30,067 60,263 111,142 201,472 
Building and software8,259 11,725 16,603 36,587 
Operating lease equipment depreciation — 41,757 — 41,757 
Rate related card expenses110,757 — — 110,757 
Other card expenses27,140 — 41 27,181 
Tax product expenses11,805 — — 11,805 
Loan expenses1,284 12,130 — 13,414 
Legal and consulting3,130 6,025 15,702 24,857 
SG & A intercompany allocations62,148 30,996 (93,144)— 
Consumer lending program expenses7,437 — — 7,437 
Other expenses15,336 10,244 19,844 45,424 
Total noninterest expense277,363 173,140 70,188 520,691 
Income (loss) before income tax expense176,964 77,112 (35,456)218,620 
Total assets417,843 4,440,662 2,673,512 7,532,017 
Total goodwill87,145 222,360 — 309,505 
Total deposits5,643,228 10,935 220,922 5,875,085 
(1) Consumer lending program expenses relate to the excess interest that gets passed to our partners for loans originated and retained by the Company under the various partner programs. Refer to Derivative Instruments in Note 1. Significant Accounting Policies for additional information on these expenses.
Fiscal Year Ended September 30, 2023
(Dollars in thousands)ConsumerCommercialCorporate Services/OtherTotal
Interest and dividend income$186,716 $263,415 $(28,181)$421,950 
Interest expense11,401 65,960 (66,487)10,874 
Net interest income175,315 197,455 38,306 411,076 
Provision for credit loss90,808 18,384 50 109,242 
Net interest income after provision for credit loss84,507 179,071 38,256 301,834 
Noninterest income233,544 66,051 17,004 316,599 
Noninterest expense
Compensation and benefits24,783 56,397 103,138 184,318 
Building and software7,962 11,545 15,184 34,691 
Operating lease equipment depreciation — 45,710 — 45,710 
Rate related card expenses77,355 — — 77,355 
Other card expenses28,141 — 2 28,143 
Tax product expenses11,586 — — 11,586 
Loan expenses306 11,589 (6)11,889 
Legal and consulting2,297 7,140 17,665 27,102 
SG & A intercompany allocations60,636 30,240 (90,876)— 
Consumer lending program expenses(1,588)— — (1,588)
Other expenses13,353 9,246 21,583 44,182 
Total noninterest expense224,831 171,867 66,690 463,388 
Income (loss) before income tax expense93,220 73,255 (11,430)155,045 
Total assets445,813 4,183,624 2,873,964 7,503,401 
Total goodwill87,145 222,360 — 309,505 
Total deposits6,376,467 5,958 206,757 6,589,182 
(1) Consumer lending program expenses relate to the excess interest that gets passed to our partners for loans originated and retained by the Company under the various partner programs. Refer to Derivative Instruments in Note 1. Significant Accounting Policies for additional information on these expenses.

Expenses included in the Other Expenses line represent insignificant expenses to the various operating segments such as marketing, data processing, meals and travel, communications, office supplies, seminars and training, dues and subscriptions, regulatory expense, bank service charges, fraud and program losses, charitable giving, and intangible amortization that are included in income (loss) before income tax expense.

In addition, interest expense includes intercompany interest paid through allocations to appropriately fund each of the operating segments. Management uses funds transfer pricing methodology to allocate the inter-segment interest appropriately, and as such, has determined the allocation to properly represent the interest rate environment at the Company.
v3.25.3
PARENT COMPANY FINANCIAL STATEMENTS
 12 Months Ended
Sep. 30, 2025
Condensed Financial Information Disclosure [Abstract]  
PARENT COMPANY FINANCIAL STATEMENTS PARENT COMPANY FINANCIAL STATEMENTS
Presented below are the condensed financial statements for the parent company, Pathward Financial, Inc.

Condensed Statements of Financial Condition
(Dollars in thousands)September 30, 2025September 30, 2024
ASSETS
Cash and cash equivalents$1,445 $1,898 
Securities held to maturity, at amortized cost11,618 10,896 
Investment in subsidiaries885,348 848,427 
Other assets1,175 2,263 
Total assets$899,586 $863,484 
LIABILITIES AND STOCKHOLDERS' EQUITY  
LIABILITIES  
Long-term borrowings$33,456 $33,354 
Other liabilities8,676 7,941 
Total liabilities42,132 41,295 
STOCKHOLDERS' EQUITY  
Common stock228 248 
Additional paid-in capital648,330 638,803 
Retained earnings359,830 337,058 
Accumulated other comprehensive loss(145,461)(153,394)
Treasury stock, at cost(4,882)(249)
Total equity attributable to parent858,045 822,466 
Noncontrolling interest(591)(277)
Total stockholders' equity857,454 822,189 
Total liabilities and stockholders' equity$899,586 $863,484 
Condensed Statements of Operations
Fiscal Year Ended September 30,
(Dollars in thousands)202520242023
Interest expense$2,562 $2,667 $2,538 
Other expense1,579 3,297 1,409 
Total expense4,141 5,964 3,947 
Loss before income taxes and equity in undistributed net income of subsidiaries(4,141)(5,964)(3,947)
Income tax benefit(255)(1,147)(967)
Loss before equity in undistributed net income of subsidiaries(3,886)(4,817)(2,980)
Equity in undistributed net income of subsidiaries188,802 186,879 146,389 
Other income956 1,157 (143)
Total income189,758 188,036 146,246 
Net income attributable to parent$185,872 $183,219 $143,266 
 
Condensed Statements of Cash Flows
Fiscal Year Ended September 30,
(Dollars in thousands)202520242023
Cash flows from operating activities:
Net income attributable to parent$185,872 $183,219 $143,266 
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, amortization and accretion, net 102 102 102 
Equity in undistributed net income of subsidiaries(188,802)(186,879)(146,389)
Net change in accrued interest receivable— 46 (30)
Net change in other assets1,088 (997)(354)
Net change in accrued expenses and other liabilities735 1,315 (1,793)
Cash dividend received159,500 87,000 110,000 
Stock compensation9,507 10,287 11,070 
Net cash provided by operating activities168,002 94,093 115,872 
Cash flows from investing activities:
Alternative investments(722)(1,676)(1,217)
Net cash (used in) investing activities(722)(1,676)(1,217)
Cash flows from financing activities:
Proceeds from long-term borrowings— — (511)
Dividends paid on common stock(4,686)(5,067)(5,426)
Issuance of common stock due to restricted stock— 2 1 
Repurchases of common stock(163,047)(86,853)(120,437)
Net cash (used in) financing activities(167,733)(91,918)(126,373)
Net change in cash and cash equivalents(453)499 (11,718)
Cash and cash equivalents at beginning of fiscal year1,898 1,399 13,117 
Cash and cash equivalents at end of fiscal year$1,445 $1,898 $1,399 

The extent to which the Company may pay cash dividends to stockholders will depend on the cash currently available at the Company, as well as the ability of the Bank to pay dividends to the Company.
v3.25.3
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
 12 Months Ended
Sep. 30, 2025
Quarterly Financial Information Disclosure [Abstract]  
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
 Quarter Ended
(Dollars in thousands, except per share data)December 31March 31June 30September 30
Fiscal Year 2025
Interest and dividend income$128,357 $142,004 $123,592 $129,439 
Interest expense3,106 5,725 1,279 1,488 
Net interest income125,251 136,279 122,313 127,951 
Provision for (reversal of) credit loss18,661 35,266 9,278 (6,431)
Noninterest income57,378 138,524 73,442 58,756 
Net income attributable to parent29,967 74,957 42,147 38,801 
Earnings per common share    
Basic$1.23 $3.16 $1.83 $1.69 
Diluted1.23 3.14 1.81 1.69 
Dividend declared per share0.05 0.05 0.05 0.05 
Fiscal Year 2024
    
Interest and dividend income$124,789 $137,094 $125,833 $131,342 
Interest expense5,862 8,460 3,083 3,828 
Net interest income118,927 128,634 122,750 127,514 
Provision for credit loss7,758 29,744 11,927 8,672 
Noninterest income52,761 128,945 65,871 52,010 
Net income attributable to parent34,899 69,918 44,869 33,533 
Earnings per common share    
Basic$1.34 $2.74 $1.78 $1.34 
Diluted1.34 2.74 1.78 1.34 
Dividend declared per share0.05 0.05 0.05 0.05 
Fiscal Year 2023
    
Interest and dividend income$89,433 $108,955 $104,696 $118,866 
Interest expense1,003 3,282 1,881 4,708 
Net interest income88,430 105,673 102,815 114,158 
Provision for credit loss16,758 41,960 22,517 28,007 
Noninterest income65,777 127,038 67,733 56,051 
Net income attributable to parent27,790 54,119 36,080 25,277 
Earnings per common share    
Basic$0.98 $1.97 $1.35 $0.96 
Diluted0.98 1.96 1.34 0.96 
Dividend declared per share0.05 0.05 0.05 0.05 
v3.25.3
FAIR VALUES OF FINANCIAL INSTRUMENTS
 12 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUES 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. 
 
There were no transfers between levels of the fair value hierarchy for the fiscal years ended September 30, 2025 or 2024.
 
Debt Securities AFS and HTM. Debt securities AFS are recorded at fair value on a recurring basis and debt securities HTM are carried at amortized cost.
 
The fair value of debt securities AFS, 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).

Derivatives. The Bank's use of derivatives is limited to the Consumer Lending Programs. Under these Programs, the Bank has an agreement with a third party to originate consumer loans that are included in the Bank's held for investment or held for sale portfolios. The third party provides a target return to the Company on the portfolio of loans retained by the Bank and all interest received from borrowers on such loans above the target return and after all charge-offs have been covered is paid to the third party as excess interest and servicing. The primary drivers of the derivative value include the Company's ability to settle the loans at par value and the third party partners' rights of first refusal to purchase loans that the Company intends to sell. The Company estimates the fair value of the derivative instrument using a market approach considering primarily the average interest rate on the underlying loans and the credit spread relative to the risk-free rate in order to validate that the value of the loans is in excess of par and thus the derivative could be settled by either party at no cost. The Company considers this derivative instrument to be within Level 3 of the fair value hierarchy, as it utilizes inputs from sales or securitization transactions involving similar loans. As of September 30, 2025 and September 30, 2024, the Company determined the derivatives had no fair value, respectively, thus eliminating the need for further disclosures regarding Level 3 inputs as outlined in ASC 820.
The following table summarizes the fair values of debt securities AFS and equity securities as they are measured at fair value on a recurring basis.

(Dollars in thousands)TotalLevel 1Level 2Level 3
September 30, 2025
Debt securities AFS
Corporate securities$21,250 $— $21,250 — 
SBA securities10,769 — 10,769 — 
Obligations of states and political subdivisions162 — 162 — 
Non-bank qualified obligations of states and political subdivisions187,040 — 187,040 — 
Asset-backed securities136,372 — 136,372 — 
Mortgage-backed securities972,250 — 972,250 — 
Total debt securities AFS$1,327,843 $— $1,327,843 $— 
Common equities and mutual funds(1)
$3,787 $3,787 $— $— 
Non-marketable equity securities(2)
$13,237 $— $— $— 
September 30, 2024
Debt securities AFS
Corporate securities$19,750 $— $19,750 $— 
SBA securities81,935 — 81,935 — 
Obligations of states and political subdivisions480 — 480 — 
Non-bank qualified obligations of states and political subdivisions217,990 — 217,990 — 
Asset-backed securities189,698 — 189,698 — 
Mortgage-backed securities1,231,368 — 1,231,368 — 
Total debt securities AFS$1,741,221 $— $1,741,221 $— 
Common equities and mutual funds(1)
$3,303 $3,303 $— $— 
Non-marketable equity securities(2)
$11,828 $— $— $— 
(1) Equity securities at fair value are included within other assets on the Consolidated Statements of Financial Condition at September 30, 2025 and September 30, 2024.
(2) Consists of certain non-marketable equity securities that are measured at fair value using NAV 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 31%.
 
The following table summarizes the assets of the Company that are measured at fair value in the Consolidated Statements of Financial Condition on a nonrecurring basis:

(Dollars in thousands)TotalLevel 1Level 2Level 3
September 30, 2025
Loans and leases, net individually evaluated for credit loss
Commercial finance$32,321 $— $— $32,321 
    Total loans and leases, net individually evaluated
    for credit loss		32,321 — — 32,321 
Total$32,321 $— $— $32,321 
September 30, 2024
Loans and leases, net individually evaluated for credit loss
Commercial finance$7,652 $— $— $7,652 
    Total loans and leases, net individually evaluated
    for credit loss		7,652 — — 7,652 
Total$7,652 $— $— $7,652 

Quantitative Information About Level 3 Fair Value Measurements
(Dollars in thousands)Fair Value at September 30, 2025Fair Value at September 30, 2024Valuation
Technique		Unobservable InputRange of Inputs
Loans and leases, net individually evaluated for credit loss$32,321 7,652 Market approach
Appraised values(1)
3% - 31%
(1) The Company generally relies on external appraisers to develop this information. Management reduced the appraised value by estimated selling costs and other inputs in a range of 3% to 31%.

Management discloses the estimated fair value of financial instruments, including assets and liabilities on and off the Consolidated Statements of Financial Condition, for which it is practicable to estimate fair value. These fair value estimates were made at September 30, 2025 and 2024 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:

 September 30, 2025
(Dollars in thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets
Cash and cash equivalents$120,568 $120,568 $120,568 $— $— 
Debt securities available for sale1,327,843 1,327,843 — 1,327,843 — 
Debt securities held to maturity29,308 25,653 — 25,653 — 
Common equities and mutual funds(1)
3,787 3,787 3,787 — — 
Non-marketable equity securities(1)(2)
19,937 19,937 — 6,699 — 
Loans held for sale179,421 179,421 — 179,421 — 
Loans and leases4,665,006 4,599,269 — — 4,599,269 
Federal Reserve Bank and Federal Home Loan Bank stocks24,708 24,708 — 24,708 — 
Accrued interest receivable38,520 38,520 38,520 — — 
Financial liabilities
Deposits5,886,947 5,886,914 5,884,311 2,604 — 
Overnight federal funds purchased9,000 9,000 9,000 — — 
Other short- and long-term borrowings33,456 33,667 — 33,667 — 
Accrued interest payable188 188 188 — — 
(1) Equity securities at fair value are included within other assets on the Consolidated Statement of Financial Condition at September 30, 2025.
(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.

 September 30, 2024
(Dollars in thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets
Cash and cash equivalents$158,337 $158,337 $158,337 $— $— 
Debt securities available for sale1,741,221 1,741,221 — 1,741,221 — 
Debt securities held to maturity33,092 30,236 — 30,236 — 
Common equities and mutual funds(1)
3,303 3,303 3,303 — — 
Non-marketable equity securities(1)(2)
21,350 21,350 — 9,522 — 
Loans held for sale691,688 691,688 — 691,688 — 
Loans and leases4,071,071 4,036,490 — — 4,036,490 
Federal Reserve Bank and Federal Home Loan Bank stocks36,014 36,014 — 36,014 — 
Accrued interest receivable31,385 31,385 31,385 — — 
Financial liabilities
Deposits5,875,085 5,874,994 5,845,879 29,115 — 
Overnight federal funds purchased377,000 377,000 377,000 — — 
Other short- and long-term borrowings33,354 31,787 — 31,787 — 
Accrued interest payable571 571 571 — — 
(1) Equity securities at fair value are included within other assets on the Consolidated Statement of Financial Condition at September 30, 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.
The following sets forth the methods and assumptions used in determining the fair value estimates for the Company’s financial instruments at September 30, 2025 and 2024.
 
CASH AND CASH EQUIVALENTS
The carrying amount of cash and short-term investments is assumed to approximate the fair value.

DEBT SECURITIES AVAILABLE FOR SALE AND EQUITY SECURITIES
Fair values for debt securities available for sale are based on quoted prices of similar securities on nationally recognized securities exchanges, or matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities. Fair values for marketable equity securities are based on unadjusted quoted prices from active markets in which the security is traded. Non-marketable equity securities are measured at fair value using NAV per share (or its equivalent) as a practical expedient.

LOANS HELD FOR SALE
Loans held for sale are carried at the lower of amortized cost or fair value, where fair value reflects the amount a willing market participant would pay for the loan. The Company classifies SBA/USDA loans held for sale as Level 2 in the fair value hierarchy as there is an active secondary market in which these loans are exchanged. Consumer loans held for sale are classified as Level 2 in the fair value hierarchy as the price at which these loans are sold are dictated by terms of the Program Agreements with consumer lending partners.

LOANS AND LEASES
The fair values of loans and leases were estimated using an exit price methodology. The exit price estimation of fair value is based on the present value of expected cash flows, which are based on the contractual terms of the loans, adjusted for prepayments and a discount rate based on the relative risk of the cash flows. Other considerations include the loan type, remaining life of the loan and credit risk.

FEDERAL RESERVE BANK AND FEDERAL HOME LOAN BANK STOCKS
The fair value of FRB and FHLB stock is assumed to approximate book value since the Company is only able to redeem this stock at par value.
 
ACCRUED INTEREST RECEIVABLE
The carrying amount of accrued interest receivable is assumed to approximate the fair value.
 
DEPOSITS
With the exception of time certificate deposits and wholesale deposits, the carrying values of deposits are assumed to approximate fair value since deposits are immediately withdrawable without penalty. The fair value of time certificate deposits and wholesale certificate of deposits are estimated using a discounted cash flows calculation that applies the FHLB Des Moines curve to aggregated expected maturities of time deposits.
 
FEDERAL HOME LOAN BANK ADVANCES
The fair value of such advances was estimated by discounting the expected future cash flows using current interest rates for advances with similar terms and remaining maturities.
 
SUBORDINATED DEBENTURES AND OTHER BORROWINGS
The fair value of these instruments was estimated by discounting the expected future cash flows using derived interest rates approximating market over the contractual maturity of such borrowings.
 
ACCRUED INTEREST PAYABLE
The carrying amount of accrued interest payable is assumed to approximate the fair value.
 
LIMITATIONS
Fair value estimates are made at a specific point in time and are based on relevant market information about the financial instrument. Additionally, fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business, customer relationships and the value of assets and liabilities that are not considered financial instruments. These estimates do not reflect any premium or discount that could result from offering the Company’s entire holdings of a particular financial instrument for sale at one time. Furthermore, since no market exists for certain of the Company’s financial instruments, fair value estimates may be based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with a high level of precision. Changes in assumptions as well as tax considerations could significantly affect the estimates. Accordingly, based on the limitations described above, 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.
v3.25.3
SUBSEQUENT EVENTS
 12 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Management has evaluated subsequent events that occurred after September 30, 2025. During this period, up to the filing date of this Annual Report on Form 10-K, management identified the following subsequent event:

•On September 26, 2025, the Company entered into an agreement to sell a portion of its consumer finance loan portfolio to a third party. The transaction closed on October 3, 2025. As part of the transaction, $115.1 million of consumer finance loans were sold, and there was no gain or loss associated with the sale of the loans.
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2025
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
v3.25.3
Insider Trading Policies and Procedures
 12 Months Ended
Sep. 30, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.3
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Sep. 30, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Information Security Program
Pathward maintains a comprehensive Information Security Program to promote the principles of sound information security governance and to ensure risk-taking activities are in line with the Company’s strategic objectives, risk appetite, and regulatory requirements. The Information Security Program governs the confidentiality, integrity, and availability of data, and defines the responsibilities of departments and individuals for such data. The Information Security Program is designed to protect information resources from a wide range of threats to ensure business continuity and minimize business risk.

Risk Management and Strategy
The goal of the Information Security Program is to prevent cybersecurity incidents. The Information Security Program aligns to the National Institute of Standards and Technology Cybersecurity Framework ("NIST CSF"). The Information Security Policy is designed to address compliance by Pathward and its personnel with applicable laws and regulations. Information security controls are designed to follow the Center for Internet Security ("CIS") controls framework. Policies and program standards that align with CIS and Payment Card Industry Data Security Standard ("PCI-DSS") are also in place.

The Information Security teams include experienced, highly qualified architects, engineers and analysts who support all aspects of cybersecurity including security architecture, identity and access management, vulnerability management, security operations, as well as governance, risk and compliance. The majority of the Information Security staff holds at least one cybersecurity-related certification.

Pathward has a formal Enterprise Risk Management ("ERM") department. The Company’s Chief Risk Officer is responsible for developing and executing the risk framework and ERM plan for the Company. The Company has implemented a three lines of defense model. The first line of defense ("1LOD") is responsible for owning, measuring, and managing the risks and controls. The second line of defense ("2LOD") is responsible for monitoring risk and controls in support of management. The third line of defense ("3LOD") is the independent audit function.

Based on the risk appetite of the Company, the ERM department monitors enterprise-wide risk and control profiles. The ERM department provides monthly and quarterly risk reporting to management and the Board of Directors. The ERM department ensures accurate and timely risk assessments are prepared throughout the organization. The ERM department and compliance team also administer a documented regulatory change control process when new and revised regulations need to be implemented.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Pathward maintains a comprehensive Information Security Program to promote the principles of sound information security governance and to ensure risk-taking activities are in line with the Company’s strategic objectives, risk appetite, and regulatory requirements. The Information Security Program governs the confidentiality, integrity, and availability of data, and defines the responsibilities of departments and individuals for such data. The Information Security Program is designed to protect information resources from a wide range of threats to ensure business continuity and minimize business risk.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Role of Management
Pathward’s Information Security Program is managed by the Company’s Chief Information and Operations Officer ("CIOO") and Chief Information Security Officer ("CISO"). The current CIOO has over 30 years of experience in senior leadership positions in the areas of information technology, technology innovation and enterprise architecture, and has been recognized for various technology and leadership awards. The current CISO reports to the CIOO and has extensive years of experience in information security both at Pathward and at other companies as well as many years of executive management experience. The CISO regularly reports to executive management, the Risk Committee of the Board of Directors (the “Board Risk Committee”) and the Board of Directors regarding all aspects of information security including cybersecurity risk and incidents. The Information Technology Committee and Executive Risk Committee provide governance and oversight of the Information Security Program. These Committees convene at least four times annually, reporting significant activities and issues upward to the Board Risk Committee and the Board of Directors as necessary.

Role of the Board of Directors
The Board of Directors has delegated oversight of all enterprise risks relevant to the Company, including information technology and cybersecurity risk, to the Board Risk Committee, which consists of three independent non-employee directors. The CISO provides quarterly updates on information security and cybersecurity risk to the Board Risk Committee, as well as an annual cybersecurity overview and information security report to the full Board of Directors. The Risk Committee oversees the Information Security Program including through the annual review and approval of any material changes to the Information Security Policy.
Security Awareness Training
All Pathward employees play a crucial role in cybersecurity defense. Pathward has implemented a security awareness training program that includes annual mandatory training for employees and contractors as well as ongoing phishing resiliency testing. The security awareness program also includes periodic videos and educational articles that are shared with employees through a partnership with corporate communications.

Third Party Risk Management Program
The Information Security third party risk management program is a piece of the overarching enterprise third party risk management program. The Information Security team’s reviews of third parties include initial and periodic security assessments, documentation and audit report reviews, and consultation on any security enhancements recommended based on the results of the completed reviews.

Incident Response Program
Management has developed and implemented a risk-based incident response program to minimize the impact to Pathward and its customers in the event of an information security incident. The incident response program has defined protocols to declare and respond to an identified incident and includes appropriate containment and restoration strategies. Pathward maintains a documented Cybersecurity Incident Response Plan and has identified Information Technology and Information Security staff who are responsible for assisting with a data breach incident response event. Team members have defined roles, responsibilities and must participate in incident response training and walk-through events at least annually. Pathward has contracted with an incident response provider in the event of a security breach. In addition, Pathward has acquired a cybersecurity insurance policy.

Pathward has established a Crisis Management Team ("CMT"), which is comprised of executive leadership and key senior stakeholders and is engaged immediately following a cybersecurity incident. The CMT provides leadership and maintains ultimate executive level oversight during each phase of the incident.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Information Technology Committee and Executive Risk Committee provide governance and oversight of the Information Security Program.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The CISO regularly reports to executive management, the Risk Committee of the Board of Directors (the “Board Risk Committee”) and the Board of Directors regarding all aspects of information security including cybersecurity risk and incidents. The Information Technology Committee and Executive Risk Committee provide governance and oversight of the Information Security Program. These Committees convene at least four times annually, reporting significant activities and issues upward to the Board Risk Committee and the Board of Directors as necessary.
Cybersecurity Risk Role of Management [Text Block]
Role of Management
Pathward’s Information Security Program is managed by the Company’s Chief Information and Operations Officer ("CIOO") and Chief Information Security Officer ("CISO"). The current CIOO has over 30 years of experience in senior leadership positions in the areas of information technology, technology innovation and enterprise architecture, and has been recognized for various technology and leadership awards. The current CISO reports to the CIOO and has extensive years of experience in information security both at Pathward and at other companies as well as many years of executive management experience. The CISO regularly reports to executive management, the Risk Committee of the Board of Directors (the “Board Risk Committee”) and the Board of Directors regarding all aspects of information security including cybersecurity risk and incidents. The Information Technology Committee and Executive Risk Committee provide governance and oversight of the Information Security Program. These Committees convene at least four times annually, reporting significant activities and issues upward to the Board Risk Committee and the Board of Directors as necessary.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Pathward’s Information Security Program is managed by the Company’s Chief Information and Operations Officer ("CIOO") and Chief Information Security Officer ("CISO").
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The current CIOO has over 30 years of experience in senior leadership positions in the areas of information technology, technology innovation and enterprise architecture, and has been recognized for various technology and leadership awards. The current CISO reports to the CIOO and has extensive years of experience in information security both at Pathward and at other companies as well as many years of executive management experience.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The CISO regularly reports to executive management, the Risk Committee of the Board of Directors (the “Board Risk Committee”) and the Board of Directors regarding all aspects of information security including cybersecurity risk and incidents. The Information Technology Committee and Executive Risk Committee provide governance and oversight of the Information Security Program. These Committees convene at least four times annually, reporting significant activities and issues upward to the Board Risk Committee and the Board of Directors as necessary.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
PRINCIPLES OF CONSOLIDATION
PRINCIPLES OF CONSOLIDATION
The Consolidated Financial Statements include the accounts of Pathward Financial, Inc. ("Pathward Financial" or the “Company” or "us"), a registered bank holding company located in Sioux Falls, South Dakota, and its wholly-owned subsidiaries. The Company's subsidiaries include Pathward®, National Association ("Pathward®, N.A." or "Pathward" or the “Bank”), a national bank whose primary federal regulator is the Office of the Comptroller of the Currency (the "OCC"), and Pathward Venture Capital, LLC, a wholly-owned service corporation subsidiary of Pathward, N.A. which invests in companies in the financial services industry. All significant intercompany balances and transactions have been eliminated. The Company also owns 100% of First Midwest Financial Capital Trust I (the “Trust”), which was formed in July 2001 for the purpose of issuing trust preferred securities, and Crestmark Capital Trust I, which was acquired from the Crestmark Acquisition in August 2018. The Trust and Crestmark Capital Trust I are not included in the Consolidated Financial Statements of the Company.

In addition, the Company is a variable interest holder in certain entities in which the equity holders do not have the characteristics of a controlling financial interest or where the entity does not have enough equity at risk to finance its activities without additional subordinated financial support (referred to as variable interest entities or "VIEs"). The Company's variable interest arises from contractual ownership or other monetary interests that change with fluctuations in the VIE's net asset value. The primary beneficiary is the entity which has both: (1) the power to direct the activities of the VIE that most significantly impacts the VIE's economic performance, and (2) the obligation to absorb losses or receive benefits of the entity that could potentially be significant to the VIE. To determine whether or not a variable interest the Company holds could potentially be significant to the VIE, the Company considers both qualitative and quantitative factors regarding the nature, size and form of the Company's involvement with the VIE. Further, the Company assesses whether or not the Company is the primary beneficiary of a VIE on an ongoing basis. If the determination is made that the Company is the primary beneficiary, then that entity is included in the Consolidated Financial Statements.

Noncontrolling interests represent the portion of net income and equity attributable to third-party owners of consolidated subsidiaries that are not wholly-owned by Pathward Financial. All of the Company's noncontrolling interests relate to the Company's Commercial Finance business line.
NATURE OF BUSINESS AND INDUSTRY SEGMENT INFORMATION
NATURE OF BUSINESS AND INDUSTRY SEGMENT INFORMATION
One of the Company's primary sources of revenue relates to payment processing services for prepaid cards, ATM sponsorship, tax refund transfer and money movement. Additionally, a significant source of revenue for the Company is interest from the purchase or origination of commercial finance loans, consumer finance loans, and warehouse finance loans. The Company accepts deposits from customers in the normal course of business on a national basis through its partner solutions and tax services divisions, and through wholesale funding. The Company operates in the banking industry, which accounts for the majority of its revenues and assets. The Company uses the “management approach” for reporting information about segments in annual and interim financial statements. The management approach is based on the way the chief operating decision-maker organizes segments within a company for making operating decisions and assessing performance. Reportable segments are based on products and services, geography, legal structure, management structure and any other manner in which management disaggregates a company. Based on the management approach model, the Company has determined that its business is comprised of three reporting segments.
RECLASSIFICATION AND REVISION OF PRIOR PERIOD BALANCES
RECLASSIFICATION AND REVISION OF PRIOR PERIOD BALANCES
Certain prior 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, the Company began using "Secondary Market Revenue" on the Condensed Consolidated Statement of Operations beginning with the interim period ending March 31, 2025 versus the previous caption of "Gain (Loss) on Sale of Loans and Leases". This line item exclusively comprises gains or losses realized from the sale of loans and leases, including any adjustments to record loans held for sale at the lower of amortized cost basis or fair value in accordance with ASC 860-20-50-5. There were no reclassifications of fiscal year amounts or prior period amounts as a result of this change in financial statement caption description.
USE OF ESTIMATES IN PREPARING FINANCIAL STATEMENTS
USE OF ESTIMATES IN PREPARING FINANCIAL STATEMENTS
The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Certain significant estimates include the valuation of residual values within lease receivables, allowance for credit losses, the valuation of goodwill and intangible assets, Consumer Loan Program derivatives and the fair values of securities and other financial instruments. These estimates are reviewed by management regularly; however, they are particularly susceptible to significant changes in the future.
CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS
For purposes of reporting cash flows, cash and cash equivalents is defined to include the Company’s cash on hand and due from financial institutions and short-term interest-bearing deposits in other financial institutions. The Company reports cash flows net for customer loan transactions, securities purchased under agreement to resell, federal funds purchased, deposit transactions, securities sold under agreements to repurchase, and FHLB advances with terms less than 90 days. Previously, the FRB required all depository institutions to maintain reserves at specified levels against their transaction accounts, primarily checking accounts. However, since March 26, 2020, the reserve requirement ratio has been zero percent. At September 30, 2025, the Bank was not required to maintain any reserve balances. The Company at times maintains balances in excess of insured limits at various financial institutions including the FRB, the FHLB and other private institutions. At September 30, 2025, the Company had $94.6 million in interest-bearing deposits held at the FRB and $1.4 million interest-bearing deposits held at the FHLB. The Company does not believe these instruments carry a significant risk of loss but cannot provide assurances that no losses could occur if these institutions were to become insolvent.
SECURITIES
SECURITIES
GAAP requires that, at acquisition, an enterprise classify debt securities into one of three categories: Available for Sale (“AFS”), Held to Maturity (“HTM”) or trading. Debt securities AFS are carried at fair value on the Consolidated Statements of Financial Condition. Unrealized holding gains and losses due to risk of credit loss are recognized in earnings while unrealized holding gains and losses due to market conditions and other non-credit risk factors are excluded from earnings and recognized as a separate component of equity in accumulated other comprehensive income (loss) (“AOCI”). See Note 20. Fair Values of Financial Instruments for additional information on fair value of AFS debt securities. Debt securities HTM are measured at amortized cost. The Company classifies the majority of its debt securities as AFS, which are those the Company may decide to sell if needed for liquidity, asset/liability management, or other reasons. Both AFS and HTM are subject to an allowance for credit losses. Pathward Financial did not hold trading securities at September 30, 2025 or 2024.

Gains and losses on the sale of securities are determined using the specific identification method based on amortized cost and are reflected in results of operations at the time of sale. Interest and dividend income, adjusted by amortization of purchase premium or discount using the level yield method, is included in income as earned. For callable debt securities, any purchase premium is amortized to the first call date while any discount is accreted over the contractual life of the security.

Debt Securities Credit Losses
The Company evaluates debt securities AFS for credit losses on a quarterly basis and records any such losses as a component of provision for credit loss in the Consolidated Statements of Operations. The Company has concluded that any unrealized holding losses in its portfolio as of September 30, 2025 are not related to credit loss and as a result has not recorded an allowance for credit losses. See Note 3. Securities for further information.

The Company evaluates debt securities HTM for credit losses on a quarterly basis and records any such losses as a component of provision for credit loss in the Consolidated Statements of Operations. The Company has concluded that its portfolio as of September 30, 2025 has a zero risk of credit loss due to the related U.S. Government financial guarantees underlying the securities within the HTM portfolio and as a result has not recorded an allowance for credit losses.

Equity Investments
The Company holds marketable equity securities, which have readily determinable fair value, and include common equity and mutual funds. These securities are recorded at fair value with unrealized gains and losses, due to changes in fair value, reflected in earnings. Interest and dividend income from these securities is recognized in interest income. See Note 3. Securities for additional information on marketable equity securities.
The Company also holds non-marketable equity securities that are included in Other Assets in the Company’s Consolidated Financial Statements. The Company generally accounts for these investments under the equity method or the provisions of Accounting Standards Codification ("ASC") 321. Equity Securities. Investments where the Company has significant influence, but not control, over the investee are accounted for under the equity method. Investments where the Company cannot exercise significant influence over the investee are measured at fair value, with changes in fair value recognized in earnings, unless those investments have no readily determinable fair value. Investments without readily determinable fair value are measured under the measurement alternative, which reflects cost less impairment, with adjustments in value resulting from observable price changes arising from orderly transactions of the same or a similar security from the same issuer ("measurement alternative investments").

The Company reviews for impairment for equity method and measurement alternative investments and includes an analysis of the facts and circumstances for each investment, expectations of cash flows, capital needs, and viability of its business model. For equity method, the asset carrying value is reduced when the decline in fair value is considered to be other than temporary. For measurement alternative investments, the asset carrying value is reduced when the fair value is less than the carrying value, without the consideration of recovery.

The Company held the following non-marketable equity securities:

•Equity Method - The Company held equity method investments of $5.3 million within other assets as of September 30, 2025 and $4.1 million at September 30, 2024. The Company’s ownership of such investments typically ranges from 5% - 25% of the investee. The Company recognized nominal net earnings from these investments within noninterest income for the fiscal year ended September 30, 2025. The Company elected to classify distributions received from equity method investments using the cumulative earnings approach on the Consolidated Statements of Cash Flows.

•Fair Value Method - The Company held equity investments measured at net asset value ("NAV") per share (or its equivalent) of $13.2 million at September 30, 2025 and $11.8 million at September 30, 2024 where NAV is considered the fair value practical expedient. These investments are recorded within other assets on the Company’s Consolidated Financial Statements. Fluctuations in fair value are recognized in earnings within noninterest Income.

•Measurement Alternative - The Company held equity investments measured using the measurement alternative of $6.7 million as of September 30, 2025 and $9.5 million at September 30, 2024 within other assets on the Company’s Consolidated Financial Statements. Equity investments measured using the measurement alternative are subject to fair value adjustments when observable price changes in orderly transactions for the identical or similar investment of the same issuer occur. The Company did not recognize any fair value adjustments in the fiscal years ended September 30, 2025 and 2024. Additionally, the Company recognized impairment loss of $3.0 million and $1.0 million of such investments during the fiscal years ended September 30, 2025 and 2024, respectively.
LOANS HELD FOR SALE ("LHFS")
LOANS HELD FOR SALE ("LHFS")
Loans are designated as LHFS based on management's intent to sell loans, or portions of loans, in established secondary markets or to participating third-party financial institutions. LHFS are held at the lower of cost or fair value. Any amount by which the cost exceeds fair value is initially recorded as a valuation allowance and subsequently reflected in the gain or loss on sale when sold. At September 30, 2025 and 2024, there was no valuation allowance recorded for LHFS. Gains and losses on LHFS are recorded in noninterest income on the Consolidated Statements of Operations. Loan costs and fees are deferred at origination and are recognized in income at the time of sale. Interest income is calculated based on the note rate of the loan and is recorded as interest income. The Company occasionally transfers loans between held for sale and held for investment classifications based on its intent and ability to hold or sell loans. Management's intent to sell may be impacted by secondary market conditions, loan credit quality, or other factors.
LOANS AND LEASES
LOANS AND LEASES

Loans Receivable
Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are classified as held for investment and are generally reported at their outstanding principal balances net of any unearned income, cumulative charge-offs, unamortized deferred fees and costs on originated loans, and unamortized premiums or discounts on purchased loans (amortized cost).

Interest income on loans is generally accrued over the term of the loans based upon the amount of principal outstanding except when serious doubt exists as to the collectability of a loan, in which case the accrual of interest is discontinued. Unearned income, deferred loan fees and costs, and discounts and premiums are amortized to interest income over the contractual life of the loan generally using the interest method. The Company's business lines follow a nonaccrual policy with certain commercial finance, consumer finance and tax service loans not generally being placed on non-accrual status, but instead are charged off when the collection of principal and interest become doubtful. When placed on nonaccrual status, the accrued unpaid interest receivable is reversed against interest income and any remaining amortizing of net deferred fees is suspended. Cash collected on these loans is applied to first reduce the carrying value of the loan with any remainder being recognized as interest income. Generally, a loan can return to accrual status when all delinquent interest and principal become current under the terms of the loan agreement and collectability of the remaining principal and interest is no longer doubtful. Loans are considered past due when contractually required principal or interest payments have not been made on the due dates.

For commercial loans, the Company generally fully charges off or charges down to net realizable value (fair value of collateral, less estimated costs to sell) for loans secured by collateral when: management judges the loans to be uncollectible; repayment is deemed to be protracted beyond reasonable time frames; the loan has been classified as a loss by either the Company's internal loan review process or its banking regulatory agencies; the customer has filed bankruptcy and the loss becomes evident owing to lack of assets; or the loan meets a defined number of days past due unless the loan is both well-secured and in the process of collection. For consumer loans, the Company fully charges off or charges down to net realizable value when deemed uncollectible due to bankruptcy or other factors, or meets a defined number of days past due.

Consumer Loan Programs
The Company partners with third-parties to originate and service consumer loans to further deploy financing offerings to the underserved and underbanked (the Programs). Loan options under the Programs include secured and unsecured installment products. The Programs allow for loans to be originated as held for sale or held for investment, with the majority of the loans being originated as held for sale and not retained by the Company. The loans are originated with terms up to 73 months, although the effective life of the loans may be much shorter.

The Programs are governed by multiple interrelated agreements including the loan agreement between the Company and the borrower and the agreements with the third-party partners. For loans held for investment, the structure of the Programs is intended to generate loans that yield a targeted return to the Bank on a portfolio basis while also providing credit enhancements from the third-party partner. Key characteristics of the Programs include:

•The Bank has thresholds in place on the maximum amount of loans to be retained by the Bank. The majority of loans originated under these Programs are originated as held for sale.

•For loans retained by the Bank, only interest received is allocated between the Bank and third-party partners. All principal cash collections for loans are retained by the Bank and reduce the outstanding principal balance.

•For loans retained by the Bank, interest received is first applied to charge offs and then to the Bank for its targeted yield under the applicable Program. Any remaining interest received in excess of the targeted yield is then allocated to the third-party partner, which includes compensation for servicing, and recorded in noninterest expense. If there is no remaining interest received after charge offs and the Bank’s yield, there is no excess interest paid or due to the third-party partners.
•The third-party partners contribute funds to a reserve account at the time of Program execution to be used for any future charge-offs not covered by interest collections, as well as any Bank required yield, as outlined in the contract. The reserve account is required to maintain minimum thresholds over the term of the Program.

The Company's agreements with multiple unrelated parties are required to be accounted for separately in accordance with U.S. GAAP relevant to each unit of account. The Company accounts for the Programs into multiple units of account as follows:

•The loans and related interest income are accounted for under ASC 310, Receivables, and are included in the Company’s expected credit losses estimation process under CECL. Due to the nature of the product, the Company recognizes interest income based on the monthly interest.
•The agreement with the third-party partner that governs the excess interest, required Bank yield, and credit enhancements meets the definition of a derivative financial instrument and is accounted for in accordance with ASC 815, Derivatives and Hedging. The derivative is accounted for at fair value in the Company’s Consolidated Statements of Financial Condition in other assets or liabilities with changes in fair value each period reported in the Consolidated Statements of Operations within noninterest expense.
–Noninterest expense each period includes actual amounts paid during the period for excess interest.

The Company had $256.4 million and $273.0 million of loans outstanding in the Programs, or 5% and 6% of its total gross loan portfolio, as of September 30, 2025 and 2024, respectively. As of September 30, 2025 and 2024, $163.1 million and $24.2 million, respectively, were included in loans held for sale at the lower of cost or fair value as a result of the Company’s decision to pursue a sale of that portion of the portfolio. As of September 30, 2025 and 2024, $93.3 million and $248.8 million were included in loans held for investment, respectively. Loans in the Programs held for investment are included within the Consumer Finance category disclosures in Note 4. Loans and Leases, Net.

Leases Receivable
The Company provides various types of commercial lease financing that are classified for accounting purposes as direct financing, sales-type or operating leases. Leases that transfer substantially all of the benefits and risks of ownership to the lessee are classified as direct financing or sales-type leases and are included in loans and leases receivable on the Consolidated Statements of Financial Condition. Direct financing and sales-type leases are carried at the combined present value of future minimum lease payments and lease residual values. The determination of lease classification requires various judgments and estimates by management, including the fair value of equipment at lease inception, useful life of the equipment under lease, lease residual value, and collectability of minimum lease payments.

Sales-type leases generate a gain or loss at lease inception by recording lease revenue less lease cost. Lease revenue consists of the present value of the future minimum lease payments. Lease cost consists of the lease equipment’s book value, less the present value of its residual. Interest income on direct financing and sales-type leases is recognized using methods that approximate a level yield over the fixed, non-cancelable term of the lease. Recognition of interest income is generally discontinued at the time the lease becomes 90 days delinquent, unless the lease is well-secured and in process of collection. Delinquency and past due status is based on the contractual terms of the lease. The Company receives pro rata rent payments for the interim period until the lease contract commences and the fixed, non-cancelable lease term begins. Interim payments are recognized in the month they are earned and are recorded in interest income. Management has policies and procedures in place for the determination of lease classification and review of the related judgments and estimates for all lease financings.

The Company generally fully charges off or charges down to net realizable value (fair value of collateral, less estimated costs to sell) for leases when management judges the lease to be uncollectible; repayment is deemed to be protracted beyond reasonable time frames; the lease has been classified as a loss by either the Company's internal review process or its banking regulatory agencies; the customer has filed bankruptcy and the loss becomes evident owing to lack of assets; or the lease meets a defined number of days past due unless the lease is both well-secured and in the process of collection.
Some lease financings include a residual value component, which represents the estimated fair value of the leased equipment at the expiration of the initial term of the transaction. The estimation of the residual value involves judgments regarding product and technology changes, customer behavior, shifts in supply and demand, and other economic assumptions. The Company may purchase and sell minimum lease payments, primarily as a credit risk reduction tool, to third-party financial institutions at fixed rates on a non-recourse basis with its underlying equipment as collateral. For those transactions that achieve sale treatment, the related lease cash flow stream and the non-recourse financing are derecognized. For those transactions that do not achieve sale treatment, the underlying lease remains on the Company’s Consolidated Statements of Financial Condition and non-recourse debt is recorded in the amount of the proceeds received. The Company retains servicing of these leases and bills, collects, and remits funds to the third-party financial institution. Upon default by the lessee, the third-party financial institutions may take control of the underlying collateral which the Company would otherwise retain as residual value.

Leases that do not transfer substantially all benefits and risks of ownership to the lessee are classified as operating leases. Such leased equipment are included in rental equipment on the Consolidated Statements of Financial Condition and are depreciated on a straight-line basis over the term of the lease to its estimated residual value.
Depreciation expense is recorded as operating lease equipment depreciation expense within noninterest expense. Operating lease rental income is recognized when it becomes due and is reflected as a component of noninterest income. The Company evaluates the carrying value of rental equipment for impairment whenever events or circumstances have occurred that would indicate the carrying amount may not be fully recoverable. If the carrying amount is not fully recoverable, an impairment loss is recognized to reduce the carrying amount to fair value, where fair value is based on the condition of the rental equipment and the projected net cash flows from rental and sale adjusted for current market conditions. A $2.9 million impairment expense from rental equipment was recognized for the fiscal year ended September 30, 2025, a $2.0 million impairment expense was recognized for fiscal year ended September 30, 2024, and a nominal impairment expense was recognized for the fiscal year ended September 30, 2023.
LOAN SERVICING AND TRANSFERS OF FINANCIAL ASSETS
Loan Servicing and Transfers of Financial Assets
The Company sells loan participations, generally without recourse, in both the commercial and consumer segments. The Company also sells commercial SBA and USDA loans to third parties, generally without recourse. Sold loans are not included in the Consolidated Financial Statements. The Bank generally retains the right to service the sold loans for a fee. If the fee is determined commensurate and customary with market terms, no servicing asset or liability is recorded. Any fee that is above or below market terms results in a servicing asset or liability and is included within Other Assets on the Consolidated Statements of Financial Condition.
ALLOWANCE FOR CREDIT LOSSES
ALLOWANCE FOR CREDIT LOSSES
The ACL represents management’s estimate of current credit losses expected to be incurred by the loan and lease portfolio over the life of each financial asset as of the balance sheet date. The Company individually evaluates loans and leases that do not share similar risk characteristics with other financial assets, which generally means loans and leases on nonaccrual status. All other loans and leases are evaluated collectively for credit loss. A reserve for unfunded credit commitments such as letters of credit and binding unfunded loan commitments is recorded in other liabilities on the Consolidated Statements of Financial Condition.
Individually evaluated loans and leases are a key component of the ACL. Generally, the Company measures credit loss on individually evaluated loans based on the fair value of the collateral less estimated selling costs, as the Company considers these financial assets to be collateral dependent. If an individually evaluated loan or lease is not collateral dependent, credit loss is measured at the present value of expected future cash flows discounted at the loan or lease initial effective interest rate. Management has also 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.

Credit loss for all other loans and leases is evaluated collectively by various characteristics. The collective evaluation of expected losses in all commercial finance and consumer lending portfolios is based on a cohort loss rate and adjustments for forward-looking information, including industry and macroeconomic forecasts. The cohort loss rate is a life of loan loss rate that immediately reverts to historical loss information for the remaining maturity of the financial asset. Management has elected to use a twelve to twenty-four month reasonable and supportable forecast for forward-looking information. Factors utilized in the determination of the allowance include historical loss experience, current economic forecasts and measurement date credit characteristics such as product type, delinquency, and industry. The unfunded credit commitments depend on these same factors, as well as estimates of lines of credit usage. The various quantitative and qualitative factors used in the methodologies are reviewed quarterly. The consumer lending programs are structured with freestanding credit enhancements that are not incorporated in management’s estimate of expected credit losses in accordance with ASC 326, Financial Instruments – Credit Losses. Rather these credit enhancements are reflected in the Company’s noninterest expense section of the Consolidated Statements of Income (Loss) from Operations.

The amount of ACL depends significantly on management’s estimates or key factors and assumptions affecting valuation, appraisals of collateral, evaluations of performance and status, the amounts and timing of future cash flows expected to be received, forecasts of future economic conditions and reversion periods. Such estimates, appraisals, evaluations, cash flows and forecasts may be subject to frequent adjustments due to changing economic prospects of borrowers, lessees, properties or economic conditions. These estimates are reviewed quarterly and adjustments, if necessary, are recorded in the provision for credit loss in the periods in which they become known.

Accrued interest receivable is presented separately on the Consolidated Statements of Financial Condition, and an ACL is not recorded for these balances. Generally, when a loan or lease is placed on nonaccrual status, typically when the collection of interest or principal is 90 days or more past due, uncollected interest accrued in prior years is charged off against the ACL and interest accrued in the current year is reversed against interest income.

Management maintains a framework of controls over the estimation process for the ACL, including review of collective reserve methodologies for compliance with GAAP. Management has a quarterly process to review the appropriateness of historical observation periods and loss assumptions and risk ratings assigned to loans and leases, if applicable. Management reviews its qualitative framework and the effect on the collective reserve compared with relevant credit risk factors and consistency with credit trends. Management also maintains controls over information systems, models and spreadsheets used in the quantitative components of the reserve estimate. This includes the quality and accuracy of historical data used to derive loss rates, the inputs to industry and macroeconomic forecasts and the reversion periods utilized. The results of this process are summarized and presented to management quarterly for their approval of the recorded allowance. See Note 4. Loans and Leases, Net for further information.
The following are risk characteristics of the Company’s loan and lease portfolio:
Commercial Finance
The Company's Commercial Finance business line offers a variety of products through its working capital, equipment finance, and structured finance lending solutions. These products include term lending, asset-based lending, factoring, lease financing, government guaranteed lending and other commercial finance products offered on a nationwide basis that are subject to adverse market conditions which may impact the borrower’s ability to make repayment on the loan or lease or could cause a decline in the value of the collateral that secures the loan or lease. The loans or leases are primarily made based on the operating cash flows of the borrower and on the underlying collateral provided by the borrower. The cash flows of borrowers may be volatile and the value of the collateral securing these loans and leases may be difficult to measure. Most commercial finance loans and leases are secured by the assets being financed or other business assets such as accounts receivable or inventory. Although the loans and leases are often collateralized by equipment, inventory, accounts receivable, or other business assets, the liquidation of collateral in the event of a borrower default may be an insufficient source of repayment, because accounts receivable may be uncollectible and inventories and equipment may be obsolete or of limited use. The Company attempts to mitigate these risks by adhering to its underwriting policies in evaluating the management of the business and the credit-worthiness of borrowers and guarantors. See Note 2. Divestitures for information on the sale of the Bank's commercial premium finance insurance business, which was completed on October 31, 2024.

Consumer Finance
The Bank offers a variety of installment and revolving consumer lending products through its credit solutions. The Bank designs its credit program relationships with certain desired outcomes, including liquidity, credit protection, and risk retention by the program partner. The Bank believes the benefits of these outcomes not only support its goals but the goals of the credit program partner as well. The Bank designs its program credit protections in a manner so that the Bank earns a reasonable risk adjusted return, but is protected by certain layers of credit support, similar to what you would find in structured finance. These program credit protections are considered freestanding credit enhancements under ASC 326 and are not considered in the Company's estimate for the ACL. Rather, these program credit protections are captured in the Company's noninterest activities on the Consolidated Statements of Operations. Certain loans are sold to third parties based on terms and conditions within the Program Agreement.
Derivative Instruments
Derivatives are financial instruments that meet the criteria in ASC 815, Derivatives and Hedging, to be recognized as either freestanding or embedded derivatives. The Company’s derivatives are recognized as either assets or liabilities in the Consolidated Statements of Financial Condition at fair value. Changes in the fair value of the derivatives are recorded through noninterest expense in the Consolidated Statements of Operations. The Company does not utilize derivative instruments for trading or speculative purposes.

The Bank’s use of derivatives is limited to the Consumer Lending Programs. Under these Programs, the Bank has an agreement with a third party to originate consumer loans that are included in the Bank’s held for investment or held for sale portfolios. The third party provides a target return to the Company on the portfolio of loans retained by the Bank and all interest received from borrowers on such loans above the target return and after all charge-offs have been covered is paid to the third-party as excess interest and servicing. This agreement to pay the third-party excess interest and receive credit enhancements meets the definition of a derivative instrument. The primary drivers of the derivative value include the Company’s ability to settle the loans at par value and the third-party partners’ rights of first refusal to purchase loans that the Company intends to sell. Each reporting period, the Company estimates the fair value of the derivative instrument using a market approach considering primarily the average interest rate on the underlying loans and the credit spread relative to the risk-free rate in order to validate that the value of the loans is in excess of par and thus the derivative could be settled by either party at no cost. The Company considers this derivative instrument to be within Level 3 of the fair value hierarchy, as it utilizes inputs from sales or securitization transactions involving similar loans. As of September 30, 2025 and 2024, the Company determined the derivatives had no fair value, respectively, thus eliminating the need for further disclosures regarding Level 3 inputs as outlined in ASC 820.

Tax Services
The Bank's Partner Solutions business line also offers tax solutions, which includes short-term refund advance loans. Through this product, taxpayers are underwritten to determine eligibility for these unsecured loans. Due to the nature of refund advance loans, it typically takes no more than three e-file cycles (the period of time between scheduled IRS payments) from when the return is accepted by the IRS to collect from the borrower. In the event of default, the Bank has no recourse against the tax consumer. When collection of principal becomes doubtful, the Bank will charge off the balance of a refund advance loan on September 30. Any remaining balances are charged off at the end of the calendar year. The Bank may record recoveries of previously charged off loans if collected in subsequent tax years.

The Bank offers short-term electronic return originator ("ERO") advance loans on a nationwide basis. These loans are typically utilized by tax preparers to purchase tax preparation software and to prepare tax office operations for the upcoming tax season. EROs go through an underwriting process to determine eligibility for the unsecured advances. ERO loans are not collateralized. Collection on ERO advances begins once the ERO begins to process refund transfers. Generally, the Bank will charge off the balance of an ERO advance loan if there is a balance at the end of June, or when collection of principal becomes doubtful.

Warehouse Finance
The Bank participates in several collateral-based warehouse lines of credit whereby the Bank is in a senior, secured position as the first out participant. These facilities are primarily collateralized by consumer receivables, with the Bank holding a senior collateral position enhanced by a subordinate party structure.
PREMISES, FURNITURE, AND EQUIPMENT
PREMISES, FURNITURE, AND EQUIPMENT
Land is carried at cost. Buildings, furniture, fixtures, leasehold improvements, internal-use software and equipment are carried at cost, less accumulated depreciation and amortization. The Company primarily uses the straight-line method of depreciation and amortization over the estimated useful lives of the assets, which is 39 years for buildings, three years for internal-use software, and range from two years to 15 years for leasehold improvements and for furniture, fixtures and equipment. Assets are reviewed for impairment when events indicate the carrying amount may not be recoverable.
GOODWILL
GOODWILL
Goodwill represents the cost in excess of the fair value of net assets acquired (including identifiable intangibles) in transactions accounted for as business acquisitions. Goodwill is evaluated annually for impairment at a reporting unit level. The Company has determined that its reporting units are one level below the operating segments and distinguish these reporting units based on how the segments and reporting units are managed, taking into consideration the economic characteristics, nature of the products, and customers of the segments and reporting units. The Company performs its impairment evaluation as of September 30 of each fiscal year unless a triggering event occurs that would require an interim impairment evaluation. The Company generally utilizes a qualitative approach during this annual assessment to determine whether it is more likely than not (i.e. a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying value. If we determine it is more likely than not that goodwill is impaired, then a quantitative assessment is performed to determine fair value of the reporting unit. If the carrying amount of the reporting unit with goodwill exceeds its fair value, goodwill is considered impaired and is written down by the excess carrying value of the reporting unit. Subsequent increases in goodwill are not recognized in the Consolidated Financial Statements. No goodwill impairment was recognized during the fiscal years ended September 30, 2025, 2024 or 2023. See Note 8. Goodwill and Intangible Assets for further information.
INTANGIBLE ASSETS
INTANGIBLE ASSETS
Intangible assets other than goodwill are amortized over their respective estimated lives. All intangible assets are subject to an impairment test at least annually or more often if conditions indicate a possible impairment. See Note 8. Goodwill and Intangible Assets for further information.
STOCK COMPENSATION
STOCK COMPENSATION
Compensation expense for share-based awards is recorded over the vesting period at the fair value of the award at the time of grant. The fair value of nonvested (restricted) shares and performance share units 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. See Note 13. Stock Compensation for further information.
INCOME TAXES
INCOME TAXES
The Company records income tax expense based on the amount of taxes due on its tax return plus deferred taxes computed based on the expected future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities, using enacted tax rates. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.

In accordance with ASC 740, Income Taxes, the Company recognizes a tax position as a benefit only if it is more likely than not that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized upon examination. For tax positions not meeting the more likely than not test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in noninterest income or noninterest expense. The effect on deferred tax assets and liabilities from a change in tax rates is recorded in income tax expense in the Consolidated Statements of Operations in the period in which the enactment date occurs. If current period income tax rates change, the impact on the annual effective income tax rate is applied year to date in the period of enactment. See Note 14. Income Taxes for further information.
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK
The Company, in the normal course of business, makes commitments to originate loans which are not reflected in the Consolidated Financial Statements. The reserve for these unfunded commitments is included within Other Liabilities on the Consolidated Statements of Financial Condition.
COMPREHENSIVE INCOME (LOSS)
COMPREHENSIVE INCOME (LOSS)
Comprehensive income (loss) consists of net income and other comprehensive income or loss. Other comprehensive income or loss includes the change in net unrealized holding gains and losses due to market conditions and other non-credit risk factors on AFS debt securities, net of reclassification adjustments and tax effects. Accumulated other comprehensive income (loss) is recognized as a separate component of stockholders’ equity.
REVENUE RECOGNITION
REVENUE RECOGNITION
Interest revenue from loans, leases, and investments is recognized on the accrual basis of accounting as the interest is earned according to the terms of the particular loan, lease, or investment. Income from service and other customer charges is recognized as earned. Revenue within the Consumer segment is recognized as services are performed and service charges are earned in accordance with the terms of the various programs. Refer to Note 16. Revenue from Contracts with Customers for additional information.
EARNINGS PER COMMON SHARE ("EPS")
EARNINGS PER COMMON SHARE (“EPS”)
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 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. See Note 5. Earnings per Common Share for further information.
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS
The Company has disclosed information on its equity investments and relationships with variable interest entities in Note 1. Summary of Significant Accounting Policies.
RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES ("ASU")
RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES ("ASU")
The following ASU was adopted by the Company during the fiscal year ended September 30, 2025 and did not have a material impact on the Company's Consolidated Financial Statements. The following ASU became effective for the Company on October 1, 2024.

ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU improves reportable segment disclosures primarily by enhancing disclosure requirements about significant segment expenses. The amendments were effective for the Company beginning October 1, 2024, and the amended guidance was first applied to the Company's annual consolidated financial statements for the fiscal year ending September 30, 2025 using a retrospective transition method. This ASU impacts disclosure only, and therefore does not have an impact on our consolidated financial statements. See Note 17. Segment Reporting.

The following ASUs have been issued and are considered applicable to the Company, but have not yet been adopted as of September 30, 2025.

ASU 2023-09, Income Taxes (ASC 740): Improvements to Income Tax Disclosures. This ASU requires enhanced income tax disclosures primarily related to the rate reconciliation and income taxes paid information to provide further transparency surrounding the Company’s income tax position. The amendments in this ASU will be effective for the Company beginning on October 1, 2025 and will apply to the Company's annual consolidated financial statements for the fiscal year ending September 30, 2026. The Company is currently evaluating the impact of such amendments to the consolidated financial statements and related disclosures.

ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures. This ASU requires public entities to provide enhanced disaggregation of certain expense categories presented in the income statement to improve transparency and consistency in financial reporting. The new guidance aims to provide investors with more detailed information regarding the nature of a company’s expenses. The amendments will be effective for the Company beginning with the fiscal year ending September 30, 2027, and interim periods within that fiscal year. The amendments are to be applied retrospectively to all prior periods presented. The Company is currently evaluating the impact of such amendments to the consolidated financial statements and related disclosures.
ASU 2025-05, Financial Instruments—Credit Losses (Topic 326) Measurement of Credit Losses for Accounts Receivable and Contract Assets. This ASU clarifies the measurement of expected credit losses for accounts receivable and contract assets arising from revenue transactions, aligning the application of Topic 326 with the revenue recognition guidance in Topic 606. The amendments are intended to reduce diversity in practice and improve the consistency of credit loss estimates across similar financial assets. The amendments will be effective for the Company beginning on October 1, 2026, and will apply to interim periods within the fiscal year ending September 30, 2027. The Company is currently evaluating the impact of such amendments to the consolidated financial statements and related disclosures.

ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40). This ASU modernizes the accounting for internally used software by streamlining when costs may be capitalized and by enhancing disclosure and presentation requirements. The amendments will be effective for the Company beginning on October 1, 2028, and will apply to interim periods within the fiscal year ending September 30, 2029. The Company is currently evaluating the impact of such amendments to the consolidated financial statements and related disclosures.

ASU 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606). This ASU refines the scope of derivative accounting and clarifies the treatment of certain share-based noncash consideration received from customers. The amendments are intended to enhance clarity and consistency in applying derivative and revenue recognition guidance. The amendments will be effective for the Company beginning on October 1, 2027 and will apply to interim periods within the fiscal year ending September 30, 2028. The Company is currently evaluating the impact of such amendments to the consolidated financial statements and related disclosures.
v3.25.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
Schedule of Summarized Financial Information of Variable Interest Entities
(Dollars in thousands)September 30, 2025
Cash and cash equivalents$222 
Loans and leases43,662 
Allowance for credit losses(1,048)
Accrued interest receivable145 
Other assets991 
Total assets43,972 
Accrued expenses and other liabilities310 
Noncontrolling interest(591)
Net assets less noncontrolling assets$44,253 
v3.25.3
DIVESTITURES (Tables)
 12 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Discontinued Operations The Company has summarized the results of the transaction as follows:
(Dollars in thousands)December 31, 2024Settlement AdjustmentsSeptember 30, 2025
Assets Purchased and Liabilities Assumed
Cash and cash equivalents$4,686 $— $4,686 
Loans594,541 (1,360)593,181 
Premises, furniture, and equipment, net484 — 484 
Total assets purchased$599,711 $(1,360)$598,351 
Deposits$16,760 $— $16,760 
Accrued expenses and other liabilities1,158 120 1,278 
Total liabilities assumed$17,918 $120 $18,038 
Net assets purchased$581,793 $(1,480)$580,313 
Consideration paid at close603,290 8,223 611,513 
Consideration due9,703 (9,703)— 
Purchase price612,993 (1,480)611,513 
Premium on transaction31,200 — 31,200 
Other adjustments:
Goodwill derecognition(11,577)— (11,577)
Intangible derecognition(631)— (631)
Building lease derecognition471 — 471 
Deferred loan origination cost derecognition— (1,360)(1,360)
Transaction costs(3,059)— (3,059)
Total other adjustments(14,796)(1,360)(16,156)
Gain on divestitures$16,404 $(1,360)$15,044 
v3.25.3
SECURITIES (Tables)
 12 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Securities Available for Sale
The amortized cost, gross unrealized gains and losses and estimated fair values of debt securities AFS and HTM are presented below.

(Dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair
Value
Debt Securities AFS
September 30, 2025
Corporate securities$25,000 $— $(3,750)$21,250 
SBA securities11,791 — (1,022)10,769 
Obligations of states and political subdivisions162 — — 162 
Non-bank qualified obligations of states and political subdivisions213,072 25 (26,057)187,040 
Asset-backed securities138,698 21 (2,347)136,372 
Mortgage-backed securities1,129,406 57 (157,213)972,250 
Total debt securities AFS$1,518,129 $103 $(190,389)$1,327,843 
September 30, 2024
Corporate securities$25,000 $— $(5,250)$19,750 
SBA securities86,036 — (4,101)81,935 
Obligations of states and political subdivisions501 — (21)480 
Non-bank qualified obligations of states and political subdivisions246,233 44 (28,287)217,990 
Asset-backed securities192,979 337 (3,618)189,698 
Mortgage-backed securities1,393,549 84 (162,265)1,231,368 
Total debt securities AFS$1,944,298 $465 $(203,542)$1,741,221 
Debt Securities HTM
September 30, 2025
Non-bank qualified obligations of states and political subdivisions$27,373 $— $(3,430)$23,943 
Mortgage-backed securities1,935 — (225)1,710 
Total debt securities HTM$29,308 $— $(3,655)$25,653 
September 30, 2024
Non-bank qualified obligations of states and political subdivisions$31,060 $— $(2,668)$28,392 
Mortgage-backed securities2,032 — (188)1,844 
Total debt securities HTM$33,092 $— $(2,856)$30,236 
Gross Unrealized Losses and Fair Value of Securities Available for Sale in Continuous Unrealized Loss Position
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
September 30, 2025
Corporate securities$— $— $21,250 $(3,750)$21,250 $(3,750)
SBA securities— — 10,769 (1,022)10,769 (1,022)
Non-bank qualified obligations of states and political subdivisions— — 185,089 (26,057)185,089 (26,057)
Asset-backed securities64,995 (556)66,263 (1,791)131,258 (2,347)
Mortgage-backed securities1,102 (2)965,549 (157,211)966,651 (157,213)
Total debt securities AFS$66,097 $(558)$1,248,920 $(189,831)$1,315,017 $(190,389)
September 30, 2024
Corporate securities$— $— $19,750 $(5,250)$19,750 $(5,250)
SBA securities— — 81,935 (4,101)81,935 (4,101)
Obligations of state and political subdivisions— — 280 (21)280 (21)
Non-bank qualified obligations of states and political subdivisions— — 215,956 (28,287)215,956 (28,287)
Asset-backed securities52,101 (176)88,576 (3,442)140,677 (3,618)
Mortgage-backed securities2,377 (15)1,215,781 (162,250)1,218,158 (162,265)
Total debt securities AFS$54,478 $(191)$1,622,278 $(203,351)$1,676,756 $(203,542)
Debt Securities HTM
September 30, 2025
Non-bank qualified obligations of states and political subdivisions$— $— $23,943 $(3,430)$23,943 $(3,430)
Mortgage-backed securities— — 1,710 (225)1,710 (225)
Total debt securities HTM$— $— $25,653 $(3,655)$25,653 $(3,655)
September 30, 2024
Non-bank qualified obligations of states and political subdivisions$— $— $28,392 $(2,668)$28,392 $(2,668)
Mortgage-backed securities— — 1,844 (188)1,844 (188)
Total debt securities HTM$— $— $30,236 $(2,856)$30,236 $(2,856)
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 which 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)September 30, 2025September 30, 2024
Debt Securities AFSAmortized CostFair
Value		Amortized CostFair
Value
Due in one year or less$755 $760 $1,826 $1,796 
Due after one year through five years1,332 1,352 14,772 14,211 
Due after five years through ten years27,688 23,947 70,894 63,636 
Due after ten years358,948 329,534 463,257 430,210 
388,723 355,593 550,749 509,853 
Mortgage-backed securities1,129,406 972,250 1,393,549 1,231,368 
Total debt securities AFS$1,518,129 $1,327,843 $1,944,298 $1,741,221 
Debt Securities HTM
Due after ten years$27,373 $23,943 $31,060 $28,392 
27,373 23,943 31,060 28,392 
Mortgage-backed securities1,935 1,710 2,032 1,844 
Total debt securities HTM$29,308 $25,653 $33,092 $30,236 
Summary of Activities Related to Sale of Securities Available for Sale
Activity related to the sale of securities is summarized below.

Fiscal Year Ended September 30,
(Dollars in thousands)202520242023
Securities AFS
   Proceeds from sales$239,322 $— $— 
   Gross gains on sales— — — 
   Gross losses on sales25,084 — — 
 Net loss on securities AFS$(25,084)$— $— 
v3.25.3
LOANS AND LEASES, NET (Tables)
 12 Months Ended
Sep. 30, 2025
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of Loans Receivable
Loans and leases consist of the following:

(Dollars in thousands)September 30, 2025September 30, 2024
Term lending$2,302,540 $1,554,641 
Asset-based lending593,265 471,897 
Factoring217,501 362,295 
Lease financing149,236 152,174 
SBA/USDA511,488 568,628 
Other commercial finance149,939 185,964 
Commercial finance3,923,969 3,295,599 
Consumer finance93,319 248,800 
Tax services2,532 8,825 
Warehouse finance645,186 517,847 
Total loans and leases4,665,006 4,071,071 
Net deferred loan origination costs (fees)(98)4,124 
Total gross loans and leases4,664,908 4,075,195 
Allowance for credit losses(53,319)(71,765)
Total loans and leases, net$4,611,589 $4,003,430 
Schedule of Loans Purchased and Sold by Portfolio Segment
Loans purchased and sold by portfolio segment, including participation interests, were as follows:

Fiscal Year Ended September 30,
(Dollars in thousands)20252024
Loans Purchased
Loans held for investment:
Commercial finance$20,811 $13,782 
Warehouse finance205,417 284,480 
Total purchases$226,228 $298,262 
Loans Sold
Loans held for sale:
Commercial finance$563,997 $99,005 
Consumer finance2,349,777 1,937,079 
Total sales$2,913,774 $2,036,084 
Sales-type Lease, Lease Income The net investment in direct financing and sales-type leases was comprised of the following:
(Dollars in thousands)September 30, 2025September 30, 2024
Minimum lease payments receivable$157,271 $162,757 
Unguaranteed residual assets6,785 9,300 
Unamortized initial direct costs68 102 
Unearned income(14,820)(19,883)
Total net investment in direct financing and sales-type leases$149,304 $152,276 
Operating Lease, Lease Income
The components of total lease income were as follows:

Fiscal Year Ended September 30,
(Dollars in thousands)202520242023
Interest income - loans and leases
Interest income on net investments in direct financing and sales-type leases$11,185 $11,827 $13,536 
Leasing and equipment finance noninterest income
Lease income from operating lease payments50,750 53,365 53,551 
Other(1)
8,441 4,921 3,964 
Total leasing and equipment finance noninterest income59,191 58,286 57,515 
Total lease income$70,376 $70,113 $71,051 
(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 September 30, 2025 were as follows:

(Dollars in thousands)
2026$50,195 
202760,916 
202822,911 
202915,108 
20306,489 
Thereafter1,652 
Total undiscounted future minimum lease payments receivable for direct financing and sales-type leases157,271 
Third-party residual value guarantees— 
Total carrying amount of minimum lease payments for direct financing and sales-type leases$157,271 
Annual Activity in Allowance for Loan Losses, Allowance for Loan Losses and Recorded Investment in Loans
Activity in the allowance for credit losses by portfolio segment was as follows:
 
Fiscal Year Ended September 30,
(Dollars in thousands)20252024
Beginning balance$71,765 $96,855 
Provision for credit loss56,545 57,678 
Charge-offs(90,894)(95,245)
Recoveries15,903 12,477 
Ending balance$53,319 $71,765 

Fiscal Year Ended September 30, 2025
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$30,394 $11,728 $(16,977)$3,200 $28,345 
Asset-based lending1,356 11,855 (5,611)50 7,650 
Factoring5,757 (668)(1,479)709 4,319 
Lease financing1,189 1,240 (1,426)37 1,040 
Insurance premium finance— 91 (93)2 — 
SBA/USDA3,273 4,100 (2,649)83 4,807 
Other commercial finance607 (517)— — 90 
Commercial finance42,576 27,829 (28,235)4,081 46,251 
Consumer finance28,669 6,497 (30,938)2,194 6,422 
Tax services2 22,091 (31,721)9,628 — 
Warehouse finance518 128 — — 646 
Total loans and leases71,765 56,545 (90,894)15,903 53,319 
Unfunded commitments(1)
695 229 — — 924 
Total $72,460 $56,774 $(90,894)$15,903 $54,243 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Consolidated Statements of Financial Condition.
Fiscal Year Ended September 30, 2024
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$25,686 $20,558 $(18,193)$2,343 $30,394 
Asset-based lending2,738 (1,637)— 255 1,356 
Factoring6,566 1,420 (2,453)224 5,757 
Lease financing3,302 (2,010)(287)184 1,189 
Insurance premium finance2,637 (1,767)(1,149)279 — 
SBA/USDA2,962 1,065 (755)1 3,273 
Other commercial finance3,089 (2,482)— — 607 
Commercial finance46,980 15,147 (22,837)3,286 42,576 
Consumer finance49,496 19,395 (41,628)1,406 28,669 
Tax services2 22,995 (30,780)7,785 2 
Warehouse finance377 141 — — 518 
Total loans and leases96,855 57,678 (95,245)12,477 71,765 
Unfunded commitments(1)
272 423 — — 695 
Total $97,127 $58,101 $(95,245)$12,477 $72,460 
(1) Reserve for unfunded commitments is recognized within other liabilities on the Consolidated Statements of Financial Condition.

Fiscal Year Ended September 30, 2023
(Dollars in thousands)Beginning BalanceProvision (Reversal)Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
Term lending$24,621 $10,541 $(11,295)$1,819 $25,686 
Asset-based lending1,050 4,005 (2,873)556 2,738 
Factoring6,556 1,523 (1,545)32 6,566 
Lease financing5,902 (1,424)(1,479)303 3,302 
Insurance premium finance1,450 2,349 (1,659)497 2,637 
SBA/USDA3,263 (296)(43)38 2,962 
Other commercial finance1,310 1,779 — — 3,089 
Commercial finance44,152 18,477 (18,894)3,245 46,980 
Consumer finance19,312 55,034 (26,297)1,447 49,496 
Tax services5 35,775 (38,741)2,963 2 
Warehouse finance327 50 — — 377 
Total loans and leases63,796 109,336 (83,932)7,655 96,855 
Unfunded commitments(1)
366 (94)— — 272 
Total $64,162 $109,242 $(83,932)$7,655 $97,127 
(1) Reserve for unfunded commitments is recognized within other liabilities on the 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)September 30, 2025September 30, 2024
Term lending$33,042 $15,491 
Asset-based lending24,273 — 
Lease financing3,985 5,300 
SBA/USDA6,147 1,419 
Commercial finance(1)
67,447 22,210 
Total$67,447 $22,210 
(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:

Fiscal Year Ended September 30,
(Dollars in thousands)20252024
Term lending$29,965 $20,133 
Asset-based lending4,789 4,896 
Factoring915 2,079 
Lease financing3,804 1,176 
SBA/USDA5,436 2,230 
Commercial finance44,909 30,514 
Total loans and leases$44,909 $30,514 
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
September 30, 202520252024202320222021Prior
Term lending
Pass$935,599 $399,968 $298,678 $99,820 $43,216 $35,971 $— $1,813,252 
Watch65,674 71,326 68,737 7,222 28,882 13,357 — 255,198 
Special mention56 68,989 3,762 826 11,078 65 — 84,776 
Substandard29,792 24,666 37,845 14,137 16,050 19,995 — 142,485 
Doubtful— 564 774 3,854 1,615 22 — 6,829 
Total1,031,121 565,513 409,796 125,859 100,841 69,410 — 2,302,540 
Current period charge-offs— 7,818 4,492 3,257 991 419 — 16,977 
Asset-based lending
Pass— — — — — — 301,128 301,128 
Watch— — — — — — 233,541 233,541 
Special mention— — — — — — 31,702 31,702 
Substandard— — — — — — 24,730 24,730 
Doubtful— — — — — — 2,164 2,164 
Total— — — — — — 593,265 593,265 
Current period charge-offs— — — — — — 5,611 5,611 
Factoring
Pass— — — — — — 179,352 179,352 
Watch— — — — — — 36,218 36,218 
Special mention— — — — — — 394 394 
Substandard— — — — — — 1,537 1,537 
Total— — — — — — 217,501 217,501 
Current period charge-offs— — — — — — 1,479 1,479 
Lease financing
Pass43,710 20,259 36,483 2,270 1,089 4,439 — 108,250 
Watch13,587 5,181 13 635 1,059 — — 20,475 
Special mention— 941 223 — 181 44 — 1,389 
Substandard7,190 — 5,375 1,377 4,088 905 — 18,935 
Doubtful— — 150 — 37 — — 187 
Total64,487 26,381 42,244 4,282 6,454 5,388 — 149,236 
Current period charge-offs— — 320 — 1,005 101 — 1,426 
Insurance premium finance
Current period charge-offs— 62 31 — — — — 93 
SBA/USDA
Pass79,928 61,063 93,459 136,075 19,674 30,962 — 421,161 
Watch2,651 5,117 136 12,477 691 3,598 — 24,670 
Special mention2,682 350 — — 326 1,038 — 4,396 
Substandard315 3,176 12,721 7,678 2,235 30,588 — 56,713 
Doubtful221 2,687 1,592 — — 48 — 4,548 
Total85,797 72,393 107,908 156,230 22,926 66,234 — 511,488 
Current period charge-offs74 882 537 90 55 1,011 — 2,649 
Other commercial finance
Pass8,770 63,200 — 134 12,471 62,495 — 147,070 
Watch— — 2,418 — — — — 2,418 
Substandard— — 451 — — — — 451 
Total8,770 63,200 2,869 134 12,471 62,495 — 149,939 
Current period charge-offs— — — — — — — — 
Warehouse finance
Pass— — — — — — 645,186 645,186 
Total— — — — — — 645,186 645,186 
Current period charge-offs— — — — — — — — 
Total loans and leases
Pass1,068,007 544,490 428,620 238,299 76,450 133,867 1,125,666 3,615,399 
Watch81,912 81,624 71,304 20,334 30,632 16,955 269,759 572,520 
Special mention2,738 70,280 3,985 826 11,585 1,147 32,096 122,657 
Substandard37,297 27,842 56,392 23,192 22,373 51,488 26,267 244,851 
Doubtful221 3,251 2,516 3,854 1,652 70 2,164 13,728 
Total$1,190,175 $727,487 $562,817 $286,505 $142,692 $203,527 $1,455,952 $4,569,155 
Current period charge-offs$74 $8,762 $5,380 $3,347 $2,051 $1,531 $7,090 $28,235 

Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
September 30, 202420242023202220212020Prior
Term lending
Pass$548,597 $398,832 $117,180 $77,585 $42,950 $24,166 $— $1,209,310 
Watch47,765 52,317 34,964 31,025 2,720 2,312 — 171,103 
Special mention44,617 3,106 9,121 14,772 7,238 2 — 78,856 
Substandard9,798 24,187 18,537 11,660 18,894 2,631 — 85,707 
Doubtful4,314 1,465 2,247 758 114 767 — 9,665 
Total655,091 479,907 182,049 135,800 71,916 29,878 — 1,554,641 
Current period charge-offs114 3,102 8,502 3,576 2,184 715 — 18,193 
Asset-based lending
Pass— — — — — — 233,268 233,268 
Watch— — — — — — 221,521 221,521 
Special mention— — — — — — 13,187 13,187 
Substandard— — — — — — 3,921 3,921 
Total— — — — — — 471,897 471,897 
Current period charge-offs— — — — — — — — 
Factoring
Pass— — — — — — 292,436 292,436 
Watch— — — — — — 62,270 62,270 
Special mention— — — — — — 271 271 
Substandard— — — — — — 7,306 7,306 
Doubtful— — — — — — 12 12 
Total— — — — — — 362,295 362,295 
Current period charge-offs— — — — — — 2,453 2,453 
Lease financing
Pass44,883 48,851 12,862 7,101 7,938 1,733 — 123,368 
Watch1,837 3,537 370 6,264 1,362 40 — 13,410 
Special mention— 250 — — 174 — — 424 
Substandard— 6,691 2,723 2,717 2,069 603 — 14,803 
Doubtful— — — 138 31 — — 169 
Total46,720 59,329 15,955 16,220 11,574 2,376 — 152,174 
Current period charge-offs— — — 207 80 — — 287 
Insurance premium finance
Current period charge-offs86 890 173 — — — — 1,149 
SBA/USDA
Pass60,636 171,136 179,490 20,825 28,588 39,319 — 499,994 
Watch5,244 6,967 — 639 10 3,026 — 15,886 
Special mention— — — 156 — 363 — 519 
Substandard1,037 15,923 12,158 2,003 9,519 11,134 — 51,774 
Doubtful— 185 55 55 62 98 — 455 
Total66,917 194,211 191,703 23,678 38,179 53,940 — 568,628 
Current period charge-offs— 549 79 — 127 — — 755 
Other commercial finance
Pass73,330 2,210 6,685 12,351 1,274 70,203 — 166,053 
Watch— 2,480 — — — — — 2,480 
Substandard— 508 — 16,923 — — — 17,431 
Total73,330 5,198 6,685 29,274 1,274 70,203 — 185,964 
Current period charge-offs— — — — — — — — 
Warehouse finance
Pass— — — — — — 517,847 517,847 
Total— — — — — — 517,847 517,847 
Current period charge-offs— — — — — — — — 
Total loans and leases
Pass727,446 621,029 316,217 117,862 80,750 135,421 1,043,551 3,042,276 
Watch54,846 65,301 35,334 37,928 4,092 5,378 283,791 486,670 
Special mention44,617 3,356 9,121 14,928 7,412 365 13,458 93,257 
Substandard10,835 47,309 33,418 33,303 30,482 14,368 11,227 180,942 
Doubtful4,314 1,650 2,302 951 207 865 12 10,301 
Total$842,058 $738,645 $396,392 $204,972 $122,943 $156,397 $1,352,039 $3,813,446 
Current period charge-offs$200 $4,541 $8,754 $3,783 $2,391 $715 $2,453 $22,837 
Past Due Loans and Leases
Past due loans and leases were as follows:

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
September 30, 2025
Loans held for sale$2,319 $1,860 $1,521 $5,700 $173,721 $179,421 $1,521 $— $1,521 
Term lending29,283 8,869 30,734 68,886 2,233,654 2,302,540 4,420 38,959 43,379 
Asset-based lending— — — — 593,265 593,265 — 24,327 24,327 
Factoring— — — — 217,501 217,501 — 1,291 1,291 
Lease financing2,222 316 5,291 7,829 141,407 149,236 1,067 4,268 5,335 
SBA/USDA— 8,876 17,808 26,684 484,804 511,488 7,413 12,571 19,984 
Other commercial finance— — — — 149,939 149,939 — — — 
Commercial finance31,505 18,061 53,833 103,399 3,820,570 3,923,969 12,900 81,416 94,316 
Consumer finance909 778 826 2,513 90,806 93,319 826 — 826 
Tax services— — 2,477 2,477 55 2,532 2,477 — 2,477 
Warehouse finance— — — — 645,186 645,186 — — — 
Total loans and leases held for investment32,414 18,839 57,136 108,389 4,556,617 4,665,006 16,203 81,416 97,619 
Total loans and leases$34,733 $20,699 $58,657 $114,089 $4,730,338 $4,844,427 $17,724 $81,416 $99,140 

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
September 30, 2024
Loans held for sale$2,266 $1,361 $1,050 $4,677 $687,011 $691,688 $1,050 $— $1,050 
Term lending19,776 5,124 17,694 42,594 1,512,047 1,554,641 1,923 23,462 25,385 
Asset-based lending— — — — 471,897 471,897 — — — 
Factoring— — — — 362,295 362,295 — 29 29 
Lease financing3,605 1,595 109 5,309 146,865 152,174 60 746 806 
SBA/USDA— 952 2,172 3,124 565,504 568,628 331 2,175 2,506 
Other commercial finance— — — — 185,964 185,964 — — — 
Commercial finance23,381 7,671 19,975 51,027 3,244,572 3,295,599 2,314 26,412 28,726 
Consumer finance3,962 3,186 3,053 10,201 238,599 248,800 3,053 — 3,053 
Tax services— — 8,733 8,733 92 8,825 8,733 — 8,733 
Warehouse finance— — — — 517,847 517,847 — — — 
Total loans and leases held for investment27,343 10,857 31,761 69,961 4,001,110 4,071,071 14,100 26,412 40,512 
Total loans and leases$29,609 $12,218 $32,811 $74,638 $4,688,121 $4,762,759 $15,150 $26,412 $41,562 
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
September 30, 202520252024202320222021Prior
Term lending$— $1,383 $23,220 $3,469 $10,887 $— $— $38,959 $18,072 
Asset-based lending— — — — — — 24,327 24,327 2,110 
Factoring— — — — — — 1,291 1,291 — 
Lease financing— — 150 — 3,511 607 — 4,268 3,985 
SBA/USDA221 4,605 7,675 — 22 48 — 12,571 — 
Commercial finance221 5,988 31,045 3,469 14,420 655 25,618 81,416 24,167 
Total nonaccrual loans and leases$221 $5,988 $31,045 $3,469 $14,420 $655 $25,618 $81,416 $24,167 

Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotalNonaccrual with No ACL
September 30, 202420242023202220212020Prior
Term lending$9,281 $3,433 $5,369 $1,386 $625 $3,368 $— $23,462 $2,579 
Factoring— — — — — — 29 29 — 
Lease financing— 577 11 46 2 110 — 746 — 
SBA/USDA— 738 55 55 742 585 — 2,175 681 
Commercial finance9,281 4,748 5,435 1,487 1,369 4,063 29 26,412 3,260 
Total nonaccrual loans and leases$9,281 $4,748 $5,435 $1,487 $1,369 $4,063 $29 $26,412 $3,260 
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
September 30, 202520252024202320222021Prior
Loans held for sale$521 $835 $150 $15 $— $— $— $1,521 
Term lending— 2,942 — — — 1,478 — 4,420 
Lease financing277 — — 789 1 — — 1,067 
SBA/USDA1,139 495 5,683 — — 96 — 7,413 
Commercial finance1,416 3,437 5,683 789 1 1,574 — 12,900 
Consumer finance241 348 180 44 13 — — 826 
Tax services2,477 — — — — — — 2,477 
Total loans and leases held for investment4,134 3,785 5,863 833 14 1,574 — 16,203 
Total 90 days or more delinquent and accruing$4,655 $4,620 $6,013 $848 $14 $1,574 $— $17,724 

Amortized Cost Basis
(Dollars in thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
September 30, 202420242023202220212020Prior
Loans held for sale$1,031 $19 $— $— $— $— $— $1,050 
Term lending— 621 354 719 217 12 — 1,923 
Lease financing— — — 2 58 — — 60 
SBA/USDA— — 331 — — — — 331 
Commercial finance— 621 685 721 275 12 — 2,314 
Consumer finance736 1,841 388 88 — — — 3,053 
Tax services8,733 — — — — — — 8,733 
Total loans and leases held for investment9,469 2,462 1,073 809 275 12 — 14,100 
Total 90 days or more delinquent and accruing$10,500 $2,481 $1,073 $809 $275 $12 $— $15,150 
v3.25.3
EARNINGS PER COMMON SHARE ("EPS") (Tables)
 12 Months Ended
Sep. 30, 2025
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.

Fiscal Year Ended September 30,
(Dollars in thousands, except per share data)202520242023
Basic income per common share:
Net income attributable to Pathward Financial, Inc.$185,872 $183,219 $143,266 
Dividends and undistributed earnings allocated to participating securities(691)(1,678)(2,148)
Basic net earnings available to common stockholders185,181 181,541 141,118 
Undistributed earnings allocated to nonvested restricted stockholders673 1,631 2,067 
Reallocation of undistributed earnings to nonvested restricted stockholders(670)(1,629)(2,060)
Diluted net earnings available to common stockholders$185,184 $181,543 $141,125 
Total weighted-average basic common shares outstanding23,397,489 25,169,937 26,833,079 
Effect of dilutive securities(1)
PSUs125,140 31,813 92,527 
Total effect of dilutive securities125,140 31,813 92,527 
Total weighted-average diluted common shares outstanding23,522,629 25,201,750 26,925,606 
Net earnings per common share:
Basic earnings per common share$7.91 $7.21 $5.26 
Diluted earnings per common share(2)
$7.87 $7.20 $5.24 
(1) Represents the effect of the assumed vesting of PSUs and restricted stock, as applicable, utilizing the treasury stock method.
(2) Excluded from the computation of diluted earnings per share for the fiscal years ended September 30, 2025, 2024, and 2023, respectively, were 87,324, 232,601, and 408,477 weighted average shares of nonvested restricted stock because their inclusion would be anti-dilutive.
v3.25.3
PREMISES, FURNITURE, AND EQUIPMENT, NET (Tables)
 12 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Summary of Year-End Premises and Equipment
Premises, furniture, and equipment consists of the following:

(Dollars in thousands)September 30, 2025September 30, 2024
Land$1,354 $1,354 
Buildings22,203 21,685 
Furniture, fixtures, and equipment69,456 63,823 
93,013 86,862 
Less: accumulated depreciation and amortization(52,381)(47,807)
Net book value$40,632 $39,055 
Rental equipment consists of the following:

(Dollars in thousands)September 30, 2025September 30, 2024
Computers and IT networking equipment$11,723 $21,308 
Motor vehicles and other141,101 140,920 
Other furniture and equipment26,040 38,755 
Solar panels and equipment111,447 128,296 
Total290,311 329,279 
Accumulated depreciation(131,530)(124,987)
Unamortized initial direct costs665 1,047 
Net book value$159,446 $205,339 
v3.25.3
RENTAL EQUIPMENT, NET (Tables)
 12 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Rental Equipment
Premises, furniture, and equipment consists of the following:

(Dollars in thousands)September 30, 2025September 30, 2024
Land$1,354 $1,354 
Buildings22,203 21,685 
Furniture, fixtures, and equipment69,456 63,823 
93,013 86,862 
Less: accumulated depreciation and amortization(52,381)(47,807)
Net book value$40,632 $39,055 
Rental equipment consists of the following:

(Dollars in thousands)September 30, 2025September 30, 2024
Computers and IT networking equipment$11,723 $21,308 
Motor vehicles and other141,101 140,920 
Other furniture and equipment26,040 38,755 
Solar panels and equipment111,447 128,296 
Total290,311 329,279 
Accumulated depreciation(131,530)(124,987)
Unamortized initial direct costs665 1,047 
Net book value$159,446 $205,339 
Schedule of Future Minimum Rental Payments for Operating Leases
Future minimum lease payments expected to be received for operating leases at September 30, 2025 were as follows:

(Dollars in thousands)
2026$34,404 
202726,647 
202818,295 
202912,965 
20303,677 
Thereafter2,808 
Total $98,796 
Undiscounted future minimum operating lease payments and a reconciliation to the amount recorded as operating lease liabilities at September 30, 2025 were as follows:

(Dollars in thousands)
2026$3,441 
20273,356 
20283,447 
20293,486 
20303,276 
Thereafter9,831 
Total undiscounted future minimum lease payments 26,837 
Discount(2,881)
Total operating lease liabilities$23,956 
v3.25.3
GOODWILL AND INTANGIBLE ASSETS (Tables)
 12 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The changes in the carrying amount of the Company's goodwill were as follows:

(Dollars in Thousands)ConsumerCommercialCorporate Services/OtherTotal
September 30, 2024$87,145 $222,360 $— $309,505 
Divestiture— (11,577)— (11,577)
September 30, 2025$87,145 $210,783 $— $297,928 
September 30, 2023$87,145 $222,360 $— $309,505 
September 30, 2024$87,145 $222,360 $— $309,505 
Schedule of Finite-Lived Intangible Assets
(Dollars in thousands)
Trademark(1)
Non-Compete
Customer Relationships(2)
All Others(3)
Total
September 30, 2024$6,422 $— $6,566 $3,601 $16,589 
Amortization during the period(1,076)— (1,824)(556)(3,456)
Write-offs and disposals during the period— — (631)— (631)
September 30, 2025$5,346 $— $4,111 $3,045 $12,502 
Gross carrying amount$13,774 $301 $70,338 $7,732 $92,145 
Accumulated amortization(8,428)(301)(55,309)(4,534)(68,572)
Accumulated impairment— — (10,918)(153)(11,071)
September 30, 2025$5,346 $— $4,111 $3,045 $12,502 
September 30, 2023$7,477 $— $9,110 $4,133 $20,720 
Amortization during the period(1,055)— (2,544)(532)(4,131)
September 30, 2024$6,422 $— $6,566 $3,601 $16,589 
Gross carrying amount$13,774 $301 $77,578 $7,732 $99,385 
Accumulated amortization(7,352)(301)(60,094)(3,978)(71,725)
Accumulated impairment— — (10,918)(153)(11,071)
September 30, 2024$6,422 $— $6,566 $3,601 $16,589 
(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 subsequent fiscal years at September 30, 2025 was as follows:
(Dollars in thousands)
2026$3,103 
20272,483 
20282,194 
20291,581 
20301,473 
Thereafter1,668 
Total anticipated intangible amortization$12,502 
v3.25.3
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Schedule of Future Minimum Rental Payments for Operating Leases
Future minimum lease payments expected to be received for operating leases at September 30, 2025 were as follows:

(Dollars in thousands)
2026$34,404 
202726,647 
202818,295 
202912,965 
20303,677 
Thereafter2,808 
Total $98,796 
Undiscounted future minimum operating lease payments and a reconciliation to the amount recorded as operating lease liabilities at September 30, 2025 were as follows:

(Dollars in thousands)
2026$3,441 
20273,356 
20283,447 
20293,486 
20303,276 
Thereafter9,831 
Total undiscounted future minimum lease payments 26,837 
Discount(2,881)
Total operating lease liabilities$23,956 
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:

September 30, 2025September 30, 2024
Weighted-average discount rate2.65 %2.45 %
Weighted-average remaining lease term (years)7.978.78

The components of total lease costs for operating leases were as follows:

Fiscal Year Ended September 30,
(Dollars in thousands)202520242023
Lease expense$3,807 $3,997 $3,951 
Short-term and variable lease cost78 75 142 
Sublease income(1,377)(1,300)(1,409)
Total lease cost for operating leases$2,508 $2,772 $2,684 
v3.25.3
TIME CERTIFICATES OF DEPOSIT (Tables)
 12 Months Ended
Sep. 30, 2025
Deposits [Abstract]  
Scheduled Maturities of Time Certificates of Deposits
Scheduled maturities of time certificates of deposit at September 30, 2025 were as follows for the fiscal years ending:

(Dollars in thousands)
2026$2,636 
2027— 
2028— 
2029— 
2030— 
Thereafter— 
Total(1)
$2,636 
(1) As of September 30, 2025, the Company had no certificates of deposit recorded in wholesale deposits on the Consolidated Statements of Financial Condition.
v3.25.3
SHORT-TERM AND LONG-TERM BORROWINGS (Tables)
 12 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
Short-Term Borrowings

(Dollars in thousands)September 30, 2025September 30, 2024
Overnight fed funds purchased$9,000 $377,000 
Total$9,000 $377,000 
Schedule of Long-term Debt
Long-Term Borrowings

(Dollars in thousands)September 30, 2025September 30, 2024
Trust preferred securities$13,661 $13,661 
Subordinated debentures, net of issuance costs19,795 19,693 
Total$33,456 $33,354 
Scheduled Maturities of FHLB Advances
Scheduled maturities of the Company's long-term borrowings at September 30, 2025 were as follows for the fiscal years ending:

(Dollars in thousands)Trust preferred securitiesSubordinated debenturesOther long-term borrowingsTotal
2026$— $— $— $— 
2027— — — — 
2028— — — — 
2029— — — — 
2030— — — — 
Thereafter13,661 19,795 — 33,456 
Total long-term borrowings$13,661 $19,795 $— $33,456 
v3.25.3
STOCK COMPENSATION (Tables)
 12 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Activity of Nonvested (Restricted) Shares
The following tables show the activity of share awards (including shares of restricted stock subject to vesting, fully-vested restricted stock, RSUs, and PSUs) granted, exercised or forfeited under all of the Company’s incentive plans during the fiscal years ended September 30, 2025 and 2024.

Number of SharesWeighted Average Fair Value at Grant
Restricted Stock Awards
Nonvested shares outstanding, September 30, 2024248,670 $41.19 
Granted15,600 77.42 
Vested(179,669)41.24 
Forfeited or expired(2,904)48.17 
Nonvested shares outstanding, September 30, 202581,697 $47.77 
Nonvested shares outstanding, September 30, 2023370,151 $35.87 
Granted181,117 50.61 
Vested(288,734)40.22 
Forfeited or expired(13,864)42.49 
Nonvested shares outstanding, September 30, 2024248,670 $41.19 
RSUs
Nonvested shares outstanding, September 30, 2024— $— 
Granted97,062 79.20 
Vested— — 
Forfeited or expired(4,442)79.39 
Nonvested shares outstanding, September 30, 202592,620 $79.19 
Activity of Performance Shares
Number of UnitsWeighted Average Fair Value at Grant
PSUs
PSUs outstanding, September 30, 2024142,462 $47.24 
Granted(1)
34,208 79.47 
Vested(34,304)57.21 
Forfeited or expired— — 
PSUs outstanding, September 30, 2025142,366 $52.59 
PSUs outstanding, September 30, 2023155,804 $41.20 
Granted(2)
52,125 49.61 
Vested(60,984)55.47 
Forfeited or expired(4,483)44.59 
PSUs outstanding, September 30, 2024142,462 $47.24 
(1) The activity in this table includes 34,304 shares related to the fiscal year 2022 PSUs, which are included in this table under the assumption of a target performance achievement. The final performance was assessed after September 30, 2024, resulted in an achievement greater than target, and an additional 6,847 shares were allocated to the participants in the plan.
(2) The activity in this table includes 60,984 shares related to the fiscal year 2021 PSUs, 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.
Effect to Income, Net of Tax Benefits, of Share-Based Expense Recorded
The following table shows the effect to income, net of tax benefits, of share-based compensation expense recorded:

Fiscal Year Ended September 30,
(Dollars in thousands)202520242023
Total employee stock-based compensation expense recognized in income, net of tax effects of $1,651, $1,873, and $1,838, respectively
$7,856 $8,416 $8,465 
v3.25.3
INCOME TAXES (Tables)
 12 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Provision for Income Taxes
The Company and its subsidiaries file a consolidated federal income tax return on a fiscal year basis. The provision for income taxes were as follows:

Fiscal Year Ended September 30,
(Dollars in thousands)202520242023
Federal:
Current$10,407 $9,770 $8,792 
Deferred15,754 13,276 (6,688)
26,161 23,046 2,104 
State:   
Current9,060 8,172 7,935 
Deferred1,045 2,890 (452)
10,105 11,062 7,483 
Income tax expense$36,266 $34,108 $9,587 
Components of Net Deferred Tax Asset (Liability)
The tax effects of the Company's temporary differences that give rise to significant portions of its deferred tax assets and liabilities were:

(Dollars in thousands)September 30, 2025September 30, 2024
Deferred tax assets:
Allowance for credit losses$12,938 $17,647 
Deferred compensation4,511 4,351 
Stock based compensation2,084 2,402 
Valuation adjustments78 175 
General business credits(1)
49,070 55,471 
Accrued expenses2,807 2,763 
Lease liability5,930 6,503 
Net unrealized loss on securities available for sale47,167 50,819 
Premises and equipment4,998 3,939 
Deferred income2,386 — 
Other assets2,276 3,940 
 134,245 148,010 
Deferred tax liabilities:  
Intangibles(8,366)(7,859)
Leased assets(80,012)(76,016)
Right-of-use assets(5,678)(6,218)
Life insurance redemption(3,493)— 
Other liabilities(466)(1,346)
(98,015)(91,439)
Net deferred tax assets$36,230 $56,571 
(1) The general business credits are investment tax credits generated from qualified solar energy property placed in service during the fiscal years ended September 30, 2025 and 2024. These credits will begin to expire on September 30, 2041.
Reconciliation of Total Income Tax Expense The Company's effective tax rate is calculated by dividing income tax expense by income before income tax expense.
Fiscal Year Ended September 30,
202520242023
(Dollars in thousands)AmountRateAmountRateAmountRate
Statutory federal income tax expense and rate$46,841 21.0 %$45,910 21.0 %$32,559 21.0 %
Change in tax rate resulting from:
State income taxes net of federal benefits7,983 3.6 %8,678 4.0 %5,999 3.9 %
162(m) disallowance1,540 0.7 %1,874 0.9 %919 0.6 %
Tax exempt income(636)(0.3)%(690)(0.3)%(783)(0.5)%
General business credits(20,773)(9.3)%(21,132)(9.7)%(28,633)(18.5)%
Life insurance redemption3,116 1.4 %— — %— — %
Other, net(1,805)(0.8)%(532)(0.2)%(474)(0.3)%
Income tax expense$36,266 16.3 %$34,108 15.7 %$9,587 6.2 %
Reconciliation of Liabilities Associated with Unrecognized Tax Benefits
A reconciliation of the beginning and ending balances for liabilities associated with unrecognized tax benefits follows:

(Dollars in thousands)September 30, 2025September 30, 2024
Balance at beginning of fiscal year$577 $521 
Additions (reductions) for tax positions related to prior years(78)56 
Balance at end of fiscal year$499 $577 
v3.25.3
CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS (Tables)
 12 Months Ended
Sep. 30, 2025
CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS [Abstract]  
Bank's Actual and Required Capital Amount and Ratios
The table below includes certain non-GAAP financial measures that are used by investors, analysts and bank regulatory agencies to assess the capital position of financial services companies. Management reviews these measures along with other measures of capital as part of its financial analyses and has included this non-GAAP financial information, and the corresponding reconciliation to total equity.

 CompanyBankMinimum
to be Adequately Capitalized Under Prompt Corrective Action Provisions		Minimum to be Well Capitalized Under Prompt Corrective Action Provisions
September 30, 2025
Tier 1 leverage capital ratio9.79 %10.00 %4.00 %5.00 %
Common equity Tier 1 capital ratio12.70 13.23 4.50 6.50 
Tier 1 capital ratio12.95 13.23 6.00 8.00 
Total capital ratio14.27 14.19 8.00 10.00 
September 30, 2024    
Tier 1 leverage capital ratio9.05 %9.22 %4.00 %5.00 %
Common equity Tier 1 capital ratio12.26 12.78 4.50 6.50 
Tier 1 capital ratio12.52 12.78 6.00 8.00 
Total capital ratio14.14 14.03 8.00 10.00 
Reconciliation of Required Capital Amount and Ratios
The following table provides a reconciliation of the amounts included in the table above for the Company.

Standardized Approach(1)
(Dollars in thousands)
September 30, 2025
September 30, 2024
Total stockholders' equity$857,454 $822,189 
Adjustments:
LESS: Goodwill, net of associated deferred tax liabilities285,158 296,105 
LESS: Certain other intangible assets18,077 18,018 
LESS: Net deferred tax assets from operating loss and tax credit carry-forwards5,733 15,624 
LESS: Net unrealized (losses) on available for sale securities(143,190)(152,328)
LESS: Noncontrolling interest(591)(277)
ADD: Adoption of Accounting Standards Update 2016-131,788 3,576 
Common Equity Tier 1(1)
694,055 648,623 
Long-term borrowings and other instruments qualifying as Tier 113,661 13,661 
Tier 1 minority interest not included in common equity Tier 1 capital(307)(150)
Total Tier 1 capital707,409 662,134 
Allowance for credit losses52,455 66,140 
Subordinated debentures, net of issuance costs19,796 19,693 
Total capital$779,660 $747,967 
(1) Capital ratios were determined using the Basel III capital rules that became effective on January 1, 2015. Basel III revised the definition of capital, increased minimum capital ratios, and introduced a minimum common equity tier 1 capital ratio; those changes were fully phased in through the end of 2021.
v3.25.3
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)
 12 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue by Major Customers by Reporting Segments For additional descriptions of the Company’s operating segments, including additional financial information and the underlying management accounting process, see Note 17. Segment Reporting to the Consolidated Financial Statements.
(Dollars in thousands)ConsumerCommercialCorporate Services/OtherConsolidated Company
Fiscal Year Ended September 30,20252024202520242025202420252024
Net interest income(1)
$300,013 $279,610 $185,497 $194,075 $26,284 $24,140 $511,794 $497,825 
Noninterest income:
Refund transfer product fees43,980 40,178 — — — — 43,980 40,178 
Refund advance and other tax fee income(1)
48,705 43,473 — — — — 48,705 43,473 
Card and deposit fees124,169 124,949 771 967 31 27 124,971 125,943 
Rental income(1)
— — 50,804 53,443 882 714 51,686 54,157 
(Loss) on sale of securities(1)
— — — — (25,084)— (25,084)— 
Gain on sale of divestitures(1)
— — — — 15,044 — 15,044 — 
Secondary market revenue(1)
59 (5)23,634 5,925 13,329 — 37,022 5,920 
Gain (loss) on sale of other(1)
— — 4,632 1,777 519 4,972 5,151 6,749 
Other income(1)
10,335 8,512 11,063 9,636 5,227 5,019 26,625 23,167 
Total noninterest income227,248 217,107 90,904 71,748 9,948 10,732 328,100 299,587 
Revenue$527,261 $496,717 $276,401 $265,823 $36,232 $34,872 $839,894 $797,412 
(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.
v3.25.3
SEGMENT REPORTING (Tables)
 12 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information of Entity
The following tables present segment data for the Company:

Fiscal Year Ended September 30, 2025
(Dollars in thousands)ConsumerCommercialCorporate Services/OtherTotal
Interest and dividend income$317,686 $307,348 $(101,642)$523,392 
Interest expense17,673 121,851 (127,926)11,598 
Net interest income300,013 185,497 26,284 511,794 
Provision for credit loss28,587 28,059 128 56,774 
Net interest income after provision for credit loss271,426 157,438 26,156 455,020 
Noninterest income227,248 90,904 9,948 328,100 
Noninterest expense
Compensation and benefits29,764 48,419 122,312 200,495 
Building and software9,384 9,320 23,390 42,094 
Operating lease equipment depreciation — 45,636 — 45,636 
Rate related card expenses104,081 — — 104,081 
Other card expenses34,321 — 41 34,362 
Tax product expenses12,775 — — 12,775 
Loan expenses1,128 16,104 — 17,232 
Legal and consulting2,404 4,003 30,062 36,469 
SG & A intercompany allocations70,348 29,312 (99,660)— 
Consumer lending program expenses(1)
20,034 — — 20,034 
Other expenses14,256 8,741 23,892 46,889 
Total noninterest expense298,495 161,535 100,037 560,067 
Income (loss) before income tax expense200,179 86,807 (63,933)223,053 
Total assets484,988 4,345,546 2,341,810 7,172,344 
Total goodwill87,145 210,783 — 297,928 
Total deposits5,665,100 122 221,725 5,886,947 
(1) Consumer lending program expenses relate to the excess interest that gets passed to our partners for loans originated and retained by the Company under the various partner programs. Refer to Derivative Instruments in Note 1. Significant Accounting Policies for additional information on these expenses.
Fiscal Year Ended September 30, 2024
(Dollars in thousands)ConsumerCommercialCorporate Services/OtherTotal
Interest and dividend income$297,411 $310,599 $(88,952)$519,058 
Interest expense17,801 116,524 (113,092)21,233 
Net interest income279,610 194,075 24,140 497,825 
Provision for credit loss42,390 15,571 140 58,101 
Net interest income after provision for credit loss237,220 178,504 24,000 439,724 
Noninterest income217,107 71,748 10,732 299,587 
Noninterest expense
Compensation and benefits30,067 60,263 111,142 201,472 
Building and software8,259 11,725 16,603 36,587 
Operating lease equipment depreciation — 41,757 — 41,757 
Rate related card expenses110,757 — — 110,757 
Other card expenses27,140 — 41 27,181 
Tax product expenses11,805 — — 11,805 
Loan expenses1,284 12,130 — 13,414 
Legal and consulting3,130 6,025 15,702 24,857 
SG & A intercompany allocations62,148 30,996 (93,144)— 
Consumer lending program expenses7,437 — — 7,437 
Other expenses15,336 10,244 19,844 45,424 
Total noninterest expense277,363 173,140 70,188 520,691 
Income (loss) before income tax expense176,964 77,112 (35,456)218,620 
Total assets417,843 4,440,662 2,673,512 7,532,017 
Total goodwill87,145 222,360 — 309,505 
Total deposits5,643,228 10,935 220,922 5,875,085 
(1) Consumer lending program expenses relate to the excess interest that gets passed to our partners for loans originated and retained by the Company under the various partner programs. Refer to Derivative Instruments in Note 1. Significant Accounting Policies for additional information on these expenses.
Fiscal Year Ended September 30, 2023
(Dollars in thousands)ConsumerCommercialCorporate Services/OtherTotal
Interest and dividend income$186,716 $263,415 $(28,181)$421,950 
Interest expense11,401 65,960 (66,487)10,874 
Net interest income175,315 197,455 38,306 411,076 
Provision for credit loss90,808 18,384 50 109,242 
Net interest income after provision for credit loss84,507 179,071 38,256 301,834 
Noninterest income233,544 66,051 17,004 316,599 
Noninterest expense
Compensation and benefits24,783 56,397 103,138 184,318 
Building and software7,962 11,545 15,184 34,691 
Operating lease equipment depreciation — 45,710 — 45,710 
Rate related card expenses77,355 — — 77,355 
Other card expenses28,141 — 2 28,143 
Tax product expenses11,586 — — 11,586 
Loan expenses306 11,589 (6)11,889 
Legal and consulting2,297 7,140 17,665 27,102 
SG & A intercompany allocations60,636 30,240 (90,876)— 
Consumer lending program expenses(1,588)— — (1,588)
Other expenses13,353 9,246 21,583 44,182 
Total noninterest expense224,831 171,867 66,690 463,388 
Income (loss) before income tax expense93,220 73,255 (11,430)155,045 
Total assets445,813 4,183,624 2,873,964 7,503,401 
Total goodwill87,145 222,360 — 309,505 
Total deposits6,376,467 5,958 206,757 6,589,182 
(1) Consumer lending program expenses relate to the excess interest that gets passed to our partners for loans originated and retained by the Company under the various partner programs. Refer to Derivative Instruments in Note 1. Significant Accounting Policies for additional information on these expenses.
v3.25.3
PARENT COMPANY FINANCIAL STATEMENTS (Tables)
 12 Months Ended
Sep. 30, 2025
Condensed Financial Information Disclosure [Abstract]  
Condensed Statements of Financial Condition
Presented below are the condensed financial statements for the parent company, Pathward Financial, Inc.

Condensed Statements of Financial Condition
(Dollars in thousands)September 30, 2025September 30, 2024
ASSETS
Cash and cash equivalents$1,445 $1,898 
Securities held to maturity, at amortized cost11,618 10,896 
Investment in subsidiaries885,348 848,427 
Other assets1,175 2,263 
Total assets$899,586 $863,484 
LIABILITIES AND STOCKHOLDERS' EQUITY  
LIABILITIES  
Long-term borrowings$33,456 $33,354 
Other liabilities8,676 7,941 
Total liabilities42,132 41,295 
STOCKHOLDERS' EQUITY  
Common stock228 248 
Additional paid-in capital648,330 638,803 
Retained earnings359,830 337,058 
Accumulated other comprehensive loss(145,461)(153,394)
Treasury stock, at cost(4,882)(249)
Total equity attributable to parent858,045 822,466 
Noncontrolling interest(591)(277)
Total stockholders' equity857,454 822,189 
Total liabilities and stockholders' equity$899,586 $863,484 
Condensed Statements of Operations
Condensed Statements of Operations
Fiscal Year Ended September 30,
(Dollars in thousands)202520242023
Interest expense$2,562 $2,667 $2,538 
Other expense1,579 3,297 1,409 
Total expense4,141 5,964 3,947 
Loss before income taxes and equity in undistributed net income of subsidiaries(4,141)(5,964)(3,947)
Income tax benefit(255)(1,147)(967)
Loss before equity in undistributed net income of subsidiaries(3,886)(4,817)(2,980)
Equity in undistributed net income of subsidiaries188,802 186,879 146,389 
Other income956 1,157 (143)
Total income189,758 188,036 146,246 
Net income attributable to parent$185,872 $183,219 $143,266 
Condensed Statements of Cash Flows
Condensed Statements of Cash Flows
Fiscal Year Ended September 30,
(Dollars in thousands)202520242023
Cash flows from operating activities:
Net income attributable to parent$185,872 $183,219 $143,266 
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, amortization and accretion, net 102 102 102 
Equity in undistributed net income of subsidiaries(188,802)(186,879)(146,389)
Net change in accrued interest receivable— 46 (30)
Net change in other assets1,088 (997)(354)
Net change in accrued expenses and other liabilities735 1,315 (1,793)
Cash dividend received159,500 87,000 110,000 
Stock compensation9,507 10,287 11,070 
Net cash provided by operating activities168,002 94,093 115,872 
Cash flows from investing activities:
Alternative investments(722)(1,676)(1,217)
Net cash (used in) investing activities(722)(1,676)(1,217)
Cash flows from financing activities:
Proceeds from long-term borrowings— — (511)
Dividends paid on common stock(4,686)(5,067)(5,426)
Issuance of common stock due to restricted stock— 2 1 
Repurchases of common stock(163,047)(86,853)(120,437)
Net cash (used in) financing activities(167,733)(91,918)(126,373)
Net change in cash and cash equivalents(453)499 (11,718)
Cash and cash equivalents at beginning of fiscal year1,898 1,399 13,117 
Cash and cash equivalents at end of fiscal year$1,445 $1,898 $1,399 
v3.25.3
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)
 12 Months Ended
Sep. 30, 2025
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data
 Quarter Ended
(Dollars in thousands, except per share data)December 31March 31June 30September 30
Fiscal Year 2025
Interest and dividend income$128,357 $142,004 $123,592 $129,439 
Interest expense3,106 5,725 1,279 1,488 
Net interest income125,251 136,279 122,313 127,951 
Provision for (reversal of) credit loss18,661 35,266 9,278 (6,431)
Noninterest income57,378 138,524 73,442 58,756 
Net income attributable to parent29,967 74,957 42,147 38,801 
Earnings per common share    
Basic$1.23 $3.16 $1.83 $1.69 
Diluted1.23 3.14 1.81 1.69 
Dividend declared per share0.05 0.05 0.05 0.05 
Fiscal Year 2024
    
Interest and dividend income$124,789 $137,094 $125,833 $131,342 
Interest expense5,862 8,460 3,083 3,828 
Net interest income118,927 128,634 122,750 127,514 
Provision for credit loss7,758 29,744 11,927 8,672 
Noninterest income52,761 128,945 65,871 52,010 
Net income attributable to parent34,899 69,918 44,869 33,533 
Earnings per common share    
Basic$1.34 $2.74 $1.78 $1.34 
Diluted1.34 2.74 1.78 1.34 
Dividend declared per share0.05 0.05 0.05 0.05 
Fiscal Year 2023
    
Interest and dividend income$89,433 $108,955 $104,696 $118,866 
Interest expense1,003 3,282 1,881 4,708 
Net interest income88,430 105,673 102,815 114,158 
Provision for credit loss16,758 41,960 22,517 28,007 
Noninterest income65,777 127,038 67,733 56,051 
Net income attributable to parent27,790 54,119 36,080 25,277 
Earnings per common share    
Basic$0.98 $1.97 $1.35 $0.96 
Diluted0.98 1.96 1.34 0.96 
Dividend declared per share0.05 0.05 0.05 0.05 
v3.25.3
FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Summary of Fair Values of Securities Available for Sale and Held to Maturity
The following table summarizes the fair values of debt securities AFS and equity securities as they are measured at fair value on a recurring basis.

(Dollars in thousands)TotalLevel 1Level 2Level 3
September 30, 2025
Debt securities AFS
Corporate securities$21,250 $— $21,250 — 
SBA securities10,769 — 10,769 — 
Obligations of states and political subdivisions162 — 162 — 
Non-bank qualified obligations of states and political subdivisions187,040 — 187,040 — 
Asset-backed securities136,372 — 136,372 — 
Mortgage-backed securities972,250 — 972,250 — 
Total debt securities AFS$1,327,843 $— $1,327,843 $— 
Common equities and mutual funds(1)
$3,787 $3,787 $— $— 
Non-marketable equity securities(2)
$13,237 $— $— $— 
September 30, 2024
Debt securities AFS
Corporate securities$19,750 $— $19,750 $— 
SBA securities81,935 — 81,935 — 
Obligations of states and political subdivisions480 — 480 — 
Non-bank qualified obligations of states and political subdivisions217,990 — 217,990 — 
Asset-backed securities189,698 — 189,698 — 
Mortgage-backed securities1,231,368 — 1,231,368 — 
Total debt securities AFS$1,741,221 $— $1,741,221 $— 
Common equities and mutual funds(1)
$3,303 $3,303 $— $— 
Non-marketable equity securities(2)
$11,828 $— $— $— 
(1) Equity securities at fair value are included within other assets on the Consolidated Statements of Financial Condition at September 30, 2025 and September 30, 2024.
(2) Consists of certain non-marketable equity securities that are measured at fair value using NAV as a practical expedient and are excluded from the fair value hierarchy.
Assets Measured at Fair Value on Nonrecurring Basis
The following table summarizes the assets of the Company that are measured at fair value in the Consolidated Statements of Financial Condition on a nonrecurring basis:

(Dollars in thousands)TotalLevel 1Level 2Level 3
September 30, 2025
Loans and leases, net individually evaluated for credit loss
Commercial finance$32,321 $— $— $32,321 
    Total loans and leases, net individually evaluated
    for credit loss		32,321 — — 32,321 
Total$32,321 $— $— $32,321 
September 30, 2024
Loans and leases, net individually evaluated for credit loss
Commercial finance$7,652 $— $— $7,652 
    Total loans and leases, net individually evaluated
    for credit loss		7,652 — — 7,652 
Total$7,652 $— $— $7,652 
Quantitative Information about Level 3 Fair Value Measurements
Quantitative Information About Level 3 Fair Value Measurements
(Dollars in thousands)Fair Value at September 30, 2025Fair Value at September 30, 2024Valuation
Technique		Unobservable InputRange of Inputs
Loans and leases, net individually evaluated for credit loss$32,321 7,652 Market approach
Appraised values(1)
3% - 31%
(1) The Company generally relies on external appraisers to develop this information. Management reduced the appraised value by estimated selling costs and other inputs in a range of 3% to 31%.
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:

 September 30, 2025
(Dollars in thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets
Cash and cash equivalents$120,568 $120,568 $120,568 $— $— 
Debt securities available for sale1,327,843 1,327,843 — 1,327,843 — 
Debt securities held to maturity29,308 25,653 — 25,653 — 
Common equities and mutual funds(1)
3,787 3,787 3,787 — — 
Non-marketable equity securities(1)(2)
19,937 19,937 — 6,699 — 
Loans held for sale179,421 179,421 — 179,421 — 
Loans and leases4,665,006 4,599,269 — — 4,599,269 
Federal Reserve Bank and Federal Home Loan Bank stocks24,708 24,708 — 24,708 — 
Accrued interest receivable38,520 38,520 38,520 — — 
Financial liabilities
Deposits5,886,947 5,886,914 5,884,311 2,604 — 
Overnight federal funds purchased9,000 9,000 9,000 — — 
Other short- and long-term borrowings33,456 33,667 — 33,667 — 
Accrued interest payable188 188 188 — — 
(1) Equity securities at fair value are included within other assets on the Consolidated Statement of Financial Condition at September 30, 2025.
(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.

 September 30, 2024
(Dollars in thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets
Cash and cash equivalents$158,337 $158,337 $158,337 $— $— 
Debt securities available for sale1,741,221 1,741,221 — 1,741,221 — 
Debt securities held to maturity33,092 30,236 — 30,236 — 
Common equities and mutual funds(1)
3,303 3,303 3,303 — — 
Non-marketable equity securities(1)(2)
21,350 21,350 — 9,522 — 
Loans held for sale691,688 691,688 — 691,688 — 
Loans and leases4,071,071 4,036,490 — — 4,036,490 
Federal Reserve Bank and Federal Home Loan Bank stocks36,014 36,014 — 36,014 — 
Accrued interest receivable31,385 31,385 31,385 — — 
Financial liabilities
Deposits5,875,085 5,874,994 5,845,879 29,115 — 
Overnight federal funds purchased377,000 377,000 377,000 — — 
Other short- and long-term borrowings33,354 31,787 — 31,787 — 
Accrued interest payable571 571 571 — — 
(1) Equity securities at fair value are included within other assets on the Consolidated Statement of Financial Condition at September 30, 2024.
(2) Includes certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.
v3.25.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)
 12 Months Ended
Sep. 30, 2025
USD ($)
segment
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Schedule of Equity Method Investments [Line Items]      
Joint venture ownership interest in each of the joint ventures (as a percentage) 80.00%    
Total loans and leases $ 4,665,006,000 $ 4,071,071,000  
Loans held for sale $ 179,421,000 691,688,000  
Number of reporting segments | segment 3    
Terms of FHLB advances 90 days    
Reserve balances in cash or on deposit with FRB (Federal Reserve Bank) $ 0    
SECURITIES      
Credit loss risk 0    
Equity Investments      
Impairment loss 3,000,000.0 1,000,000.0  
Impairment on rental equipment 2,915,000 2,013,000 $ 24,000
Impairment 0 0 $ 0
Transfers      
Aggregate unpaid balance of loans serviced for others 991,500,000 364,500,000  
National Lending | Commercial finance      
Schedule of Equity Method Investments [Line Items]      
Total loans and leases 3,923,969,000 3,295,599,000  
National Lending | Consumer finance      
Schedule of Equity Method Investments [Line Items]      
Total loans and leases 93,319,000 248,800,000  
National Lending | Consumer finance | Consumer Loan Programs      
Schedule of Equity Method Investments [Line Items]      
Total loans and leases 256,400,000 273,000,000.0  
Loans held for sale $ 163,100,000 $ 24,200,000  
Equity Investments      
Percentage of total gross loan portfolio 5.00% 6.00%  
Loans held for investment $ 93,300,000 $ 248,800,000  
Special Purpose Entity      
Schedule of Equity Method Investments [Line Items]      
Equity method investments 2,300,000 5,800,000  
Equity Investments      
Equity method investments 2,300,000 5,800,000  
Special Purpose Entity | National Lending | Commercial finance      
Schedule of Equity Method Investments [Line Items]      
Total loans and leases 25,800,000 18,400,000  
Loans held for sale 0 4,600,000  
FRB      
Schedule of Equity Method Investments [Line Items]      
Interest bearing deposits 94,600,000    
FHLB      
Schedule of Equity Method Investments [Line Items]      
Interest bearing deposits 1,400,000    
Other Assets      
Schedule of Equity Method Investments [Line Items]      
Equity method investments 5,300,000 4,100,000  
Equity Investments      
Equity method investments 5,300,000 4,100,000  
Alternative investment $ 6,700,000 9,500,000  
Minimum | Other Assets Investments      
Equity Investments      
Equity method investment, ownership percentage 5.00%    
Maximum | Other Assets Investments      
Equity Investments      
Equity method investment, ownership percentage 25.00%    
Fair Value Measured at Net Asset Value Per Share | Other Assets      
Schedule of Equity Method Investments [Line Items]      
Equity method investments $ 13,200,000 11,800,000  
Equity Investments      
Equity method investments $ 13,200,000 $ 11,800,000  
First Midwest Financial Capital Trust I      
Schedule of Equity Method Investments [Line Items]      
Percentage of interest in subsidiary 100.00%    
Buildings      
Property, Plant and Equipment [Line Items]      
Premises, furniture and equipment, estimated useful lives 39 years    
Software Development      
Property, Plant and Equipment [Line Items]      
Premises, furniture and equipment, estimated useful lives 3 years    
Leasehold Improvements | Minimum      
Property, Plant and Equipment [Line Items]      
Premises, furniture and equipment, estimated useful lives 2 years    
Leasehold Improvements | Maximum      
Property, Plant and Equipment [Line Items]      
Premises, furniture and equipment, estimated useful lives 15 years    
v3.25.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Assets of VIE's (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Variable Interest Entity [Line Items]        
Cash and cash equivalents $ 120,568 $ 158,337    
Loans and leases 4,664,908 4,075,195    
Allowance for credit losses (53,319) (71,765) $ (96,855) $ (63,796)
Accrued interest receivable 38,520 31,385    
Other assets 329,879 266,362    
Total assets 7,172,344 7,532,017 $ 7,503,401  
Accrued expenses and other liabilities 385,487 424,389    
Noncontrolling interest (591) (277)    
Net assets less noncontrolling assets 858,045 $ 822,466    
Variable Interest Entity, Primary Beneficiary        
Variable Interest Entity [Line Items]        
Cash and cash equivalents 222      
Loans and leases 43,662      
Allowance for credit losses (1,048)      
Accrued interest receivable 145      
Other assets 991      
Total assets 43,972      
Accrued expenses and other liabilities 310      
Noncontrolling interest (591)      
Net assets less noncontrolling assets $ 44,253      
v3.25.3
DIVESTITURES - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Oct. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Mar. 31, 2025
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Gain on divestitures     $ 15,044 $ 0 $ 0  
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Commercial Insurance Premium Finance Business            
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Premium on transaction $ 31,200 $ 31,200 $ 31,200      
Gain on divestitures $ 15,044 $ 15,000        
Decrease deferred loan origination cost derecognition           $ (1,400)
v3.25.3
DIVESTITURES - Schedule of Insurance Premium Finance (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Oct. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]            
Net realized (gain) on divestitures       $ (15,044) $ 0 $ 0
Gain on divestitures       15,044 $ 0 $ 0
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Commercial Insurance Premium Finance Business            
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]            
Cash and cash equivalents $ 4,686     4,686    
Loans 593,181     593,181    
Premises, furniture, and equipment, net 484     484    
Total assets purchased 598,351     598,351    
Deposits 16,760     16,760    
Accrued expenses and other liabilities 1,278     1,278    
Total liabilities assumed 18,038     18,038    
Net assets purchased 580,313     580,313    
Consideration paid at close 611,513     611,513    
Consideration due 0     0    
Purchase price 611,513     611,513    
Premium on transaction 31,200   $ 31,200 31,200    
Goodwill derecognition (11,577)          
Intangible derecognition (631)          
Net realized (gain) on divestitures 471          
Deferred loan origination cost derecognition (1,360)          
Transaction costs (3,059)          
Total other adjustments (16,156)          
Gain on divestitures 15,044   $ 15,000      
Disposal Group, Previously Reported | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Commercial Insurance Premium Finance Business            
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]            
Cash and cash equivalents   $ 4,686        
Loans   594,541        
Premises, furniture, and equipment, net   484        
Total assets purchased   599,711        
Deposits   16,760        
Accrued expenses and other liabilities   1,158        
Total liabilities assumed   17,918        
Net assets purchased   581,793        
Consideration paid at close   603,290        
Consideration due   9,703        
Purchase price   612,993        
Premium on transaction   31,200        
Goodwill derecognition   (11,577)        
Intangible derecognition   (631)        
Net realized (gain) on divestitures   471        
Deferred loan origination cost derecognition   0        
Transaction costs   (3,059)        
Total other adjustments   (14,796)        
Gain on divestitures   $ 16,404        
Settlement Adjustments | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Commercial Insurance Premium Finance Business            
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]            
Cash and cash equivalents 0     0    
Loans (1,360)     (1,360)    
Premises, furniture, and equipment, net 0     0    
Total assets purchased (1,360)     (1,360)    
Deposits 0     0    
Accrued expenses and other liabilities 120     120    
Total liabilities assumed 120     120    
Net assets purchased (1,480)     (1,480)    
Consideration paid at close 8,223     8,223    
Consideration due (9,703)     (9,703)    
Purchase price (1,480)     (1,480)    
Premium on transaction 0     $ 0    
Goodwill derecognition 0          
Intangible derecognition 0          
Net realized (gain) on divestitures 0          
Deferred loan origination cost derecognition (1,360)          
Transaction costs 0          
Total other adjustments (1,360)          
Gain on divestitures $ (1,360)          
v3.25.3
SECURITIES - Schedule of Securities Available (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
Securities AFS    
Amortized Cost $ 1,518,129 $ 1,944,298
Fair Value 1,327,843 1,741,221
Amortized Cost    
Due in one year or less 755 1,826
Due after one year through five years 1,332 14,772
Due after five years through ten years 27,688 70,894
Due after ten years 358,948 463,257
Total Amortized Cost 388,723 550,749
Mortgage-backed securities 1,129,406 1,393,549
Amortized Cost 1,518,129 1,944,298
Fair Value    
Due in one year or less 760 1,796
Due after one year through five years 1,352 14,211
Due after five years through ten years 23,947 63,636
Due after ten years 329,534 430,210
Total Fair Value 355,593 509,853
Mortgage-backed securities 972,250 1,231,368
Total debt securities AFS 1,327,843 1,741,221
Securities HTM    
Amortized Cost 29,308 33,092
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) (3,655) (2,856)
Fair Value 25,653 30,236
Held-to-maturity securities in a 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 25,653 30,236
OVER 12 MONTHS, Gross Unrealized (Losses) (3,655) (2,856)
TOTAL, Fair Value 25,653 30,236
TOTAL, Gross Unrealized (Losses) (3,655) (2,856)
Amortized Cost    
Due after ten years 27,373 31,060
Total 27,373 31,060
Mortgage-backed securities 1,935 2,032
Total debt securities HTM 29,308 33,092
Fair Value    
Due after ten years 23,943 28,392
Total 23,943 28,392
Mortgage-backed securities 1,710 1,844
Fair Value 25,653 30,236
Corporate securities    
Securities AFS    
Amortized Cost 25,000 25,000
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) (3,750) (5,250)
Fair Value 21,250 19,750
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
Fair Value, Less than 12 months 0 0
Unrealized (Losses), Less than 12 months 0 0
Fair Value, 12 Months or Longer 21,250 19,750
Unrealized (Losses), 12 Months or Longer (3,750) (5,250)
Fair Value, Total 21,250 19,750
Unrealized (Losses), Total (3,750) (5,250)
Amortized Cost    
Amortized Cost 25,000 25,000
Fair Value    
Total debt securities AFS 21,250 19,750
SBA securities    
Securities AFS    
Amortized Cost 11,791 86,036
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) (1,022) (4,101)
Fair Value 10,769 81,935
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
Fair Value, Less than 12 months 0 0
Unrealized (Losses), Less than 12 months 0 0
Fair Value, 12 Months or Longer 10,769 81,935
Unrealized (Losses), 12 Months or Longer (1,022) (4,101)
Fair Value, Total 10,769 81,935
Unrealized (Losses), Total (1,022) (4,101)
Amortized Cost    
Amortized Cost 11,791 86,036
Fair Value    
Total debt securities AFS 10,769 81,935
Obligations of states and political subdivisions    
Securities AFS    
Amortized Cost 162 501
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) 0 (21)
Fair Value 162 480
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
Fair Value, Less than 12 months   0
Unrealized (Losses), Less than 12 months   0
Fair Value, 12 Months or Longer   280
Unrealized (Losses), 12 Months or Longer   (21)
Fair Value, Total   280
Unrealized (Losses), Total   (21)
Amortized Cost    
Amortized Cost 162 501
Fair Value    
Total debt securities AFS 162 480
Non-bank qualified obligations of states and political subdivisions    
Securities AFS    
Amortized Cost 213,072 246,233
Gross Unrealized Gains 25 44
Gross Unrealized (Losses) (26,057) (28,287)
Fair Value 187,040 217,990
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
Fair Value, Less than 12 months 0 0
Unrealized (Losses), Less than 12 months 0 0
Fair Value, 12 Months or Longer 185,089 215,956
Unrealized (Losses), 12 Months or Longer (26,057) (28,287)
Fair Value, Total 185,089 215,956
Unrealized (Losses), Total (26,057) (28,287)
Amortized Cost    
Amortized Cost 213,072 246,233
Fair Value    
Total debt securities AFS 187,040 217,990
Securities HTM    
Amortized Cost 27,373 31,060
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) (3,430) (2,668)
Fair Value 23,943 28,392
Held-to-maturity securities in a 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 23,943 28,392
OVER 12 MONTHS, Gross Unrealized (Losses) (3,430) (2,668)
TOTAL, Fair Value 23,943 28,392
TOTAL, Gross Unrealized (Losses) (3,430) (2,668)
Amortized Cost    
Total debt securities HTM 27,373 31,060
Fair Value    
Fair Value 23,943 28,392
Asset-backed securities    
Securities AFS    
Amortized Cost 138,698 192,979
Gross Unrealized Gains 21 337
Gross Unrealized (Losses) (2,347) (3,618)
Fair Value 136,372 189,698
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
Fair Value, Less than 12 months 64,995 52,101
Unrealized (Losses), Less than 12 months (556) (176)
Fair Value, 12 Months or Longer 66,263 88,576
Unrealized (Losses), 12 Months or Longer (1,791) (3,442)
Fair Value, Total 131,258 140,677
Unrealized (Losses), Total (2,347) (3,618)
Amortized Cost    
Amortized Cost 138,698 192,979
Fair Value    
Total debt securities AFS 136,372 189,698
Mortgage-backed securities    
Securities AFS    
Amortized Cost 1,129,406 1,393,549
Gross Unrealized Gains 57 84
Gross Unrealized (Losses) (157,213) (162,265)
Fair Value 972,250 1,231,368
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
Fair Value, Less than 12 months 1,102 2,377
Unrealized (Losses), Less than 12 months (2) (15)
Fair Value, 12 Months or Longer 965,549 1,215,781
Unrealized (Losses), 12 Months or Longer (157,211) (162,250)
Fair Value, Total 966,651 1,218,158
Unrealized (Losses), Total (157,213) (162,265)
Amortized Cost    
Amortized Cost 1,129,406 1,393,549
Fair Value    
Total debt securities AFS 972,250 1,231,368
Securities HTM    
Amortized Cost 1,935 2,032
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) (225) (188)
Fair Value 1,710 1,844
Held-to-maturity securities in a 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 1,710 1,844
OVER 12 MONTHS, Gross Unrealized (Losses) (225) (188)
TOTAL, Fair Value 1,710 1,844
TOTAL, Gross Unrealized (Losses) (225) (188)
Amortized Cost    
Total debt securities HTM 1,935 2,032
Fair Value    
Fair Value 1,710 1,844
Total debt securities AFS    
Securities AFS    
Amortized Cost 1,518,129 1,944,298
Gross Unrealized Gains 103 465
Gross Unrealized (Losses) (190,389) (203,542)
Fair Value 1,327,843 1,741,221
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
Fair Value, Less than 12 months 66,097 54,478
Unrealized (Losses), Less than 12 months (558) (191)
Fair Value, 12 Months or Longer 1,248,920 1,622,278
Unrealized (Losses), 12 Months or Longer (189,831) (203,351)
Fair Value, Total 1,315,017 1,676,756
Unrealized (Losses), Total (190,389) (203,542)
Amortized Cost    
Amortized Cost 1,518,129 1,944,298
Fair Value    
Total debt securities AFS $ 1,327,843 $ 1,741,221
v3.25.3
SECURITIES - Narrative (Details)
 12 Months Ended
Sep. 30, 2025
USD ($)
security
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Debt Securities, Available-for-sale [Line Items]      
Proceeds from sales of securities available for sale $ 239,322,000 $ 0 $ 0
Number of securities in an unrealized loss position | security 147    
Securities pledged as collateral for public funds on deposit $ 0 0  
Securities pledged as collateral for individual, trust, and estate deposits 0 0  
Federal reserve bank stock 19,700,000 19,700,000  
Federal Reserve Bank and Federal Home Loan Bank Stock, at cost 5,000,000.0 16,300,000  
Total loans and leases, net 4,611,589,000 4,003,430,000  
Determinable fair value 12,000,000.0 13,600,000  
Impairment recognized 3,000,000.0 1,000,000.0 3,300,000
Marketable      
Debt Securities, Available-for-sale [Line Items]      
Equity securities 3,800,000 3,300,000  
Unrealized loss 100,000 100,000  
Non-marketable      
Debt Securities, Available-for-sale [Line Items]      
Equity securities 13,200,000 11,800,000  
Unrealized gains (losses) on marketable equity securities 1,600,000 1,100,000  
Realized gains on marketable equity securities $ 400,000    
Number of equity securities sold | security 1    
Non-marketable | Visa Class C Common Stock and Visa Class B-2 Common Stock      
Debt Securities, Available-for-sale [Line Items]      
Realized gains on marketable equity securities $ 400,000 2,400,000  
Estimated Fair Value      
Debt Securities, Available-for-sale [Line Items]      
Fair value 4,599,269,000 4,036,490,000  
Federal Reserve Bank      
Debt Securities, Available-for-sale [Line Items]      
Interest and dividend income from FLHB 1,200,000 1,200,000 1,200,000
Federal Home Loan Bank      
Debt Securities, Available-for-sale [Line Items]      
Interest and dividend income from FLHB 600,000 700,000 $ 500,000
Asset Pledged as Collateral      
Debt Securities, Available-for-sale [Line Items]      
Investments 385,500,000 533,800,000  
Total loans and leases, net 223,000,000.0 136,900,000  
Asset Pledged as Collateral with Right | Estimated Fair Value | Federal Home Loan Bank Advances      
Debt Securities, Available-for-sale [Line Items]      
Fair value $ 955,300,000 $ 1,040,000,000.00  
v3.25.3
SECURITIES - Activities Related to Sale (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Securities AFS      
Proceeds from sales $ 239,322 $ 0 $ 0
Gross gains on sales 0 0 0
Gross losses on sales 25,084 0 0
Net loss on securities AFS $ (25,084) $ 0 $ 0
v3.25.3
LOANS AND LEASES, NET - Summary of Loans (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases $ 4,665,006 $ 4,071,071    
Net deferred loan origination costs (fees) (98) 4,124    
Total gross loans and leases 4,664,908 4,075,195    
Allowance for credit losses (53,319) (71,765) $ (96,855) $ (63,796)
Total loans and leases, net 4,611,589 4,003,430    
Consumer finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans and leases 93,300 248,800    
Tax services        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans and leases 2,500 8,800    
National Lending | Term lending        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 2,302,540 1,554,641    
Allowance for credit losses (28,345) (30,394) (25,686) (24,621)
National Lending | Asset-based lending        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 593,265 471,897    
Allowance for credit losses (7,650) (1,356) (2,738) (1,050)
National Lending | Factoring        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 217,501 362,295    
Allowance for credit losses (4,319) (5,757) (6,566) (6,556)
National Lending | Lease financing        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 149,236 152,174    
Allowance for credit losses (1,040) (1,189) (3,302) (5,902)
National Lending | SBA/USDA        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 511,488 568,628    
Allowance for credit losses (4,807) (3,273) (2,962) (3,263)
National Lending | Other commercial finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 149,939 185,964    
Allowance for credit losses (90) (607) (3,089) (1,310)
National Lending | Commercial finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 3,923,969 3,295,599    
Allowance for credit losses (46,251) (42,576) (46,980) (44,152)
National Lending | Consumer finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 93,319 248,800    
Allowance for credit losses (6,422) (28,669) (49,496) (19,312)
National Lending | Tax services        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 2,532 8,825    
Allowance for credit losses 0 (2) (2) (5)
National Lending | Warehouse finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 645,186 517,847    
Allowance for credit losses $ (646) $ (518) $ (377) $ (327)
v3.25.3
LOANS AND LEASES, NET - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Originations of loans held-for-sale $ 2,497,787 $ 2,034,977 $ 1,208,684
Sale loans 2,910,000 2,040,000  
Gain on sale of held for sale loans 37,000 5,900  
Loans and leases 4,664,908 4,075,195  
Pass      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and leases 3,615,399 3,042,276  
Pass | Asset Pledged as Collateral      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and leases $ 107,700 105,100  
Consumer credit products      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Charge off period 120 days    
Commercial finance      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Charge off period 90 days    
Consumer finance      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and leases $ 93,300 248,800  
Tax services      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and leases 2,500 8,800  
National Lending | Other Consumer Finance and SBA/USDA Loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Originations of loans held-for-sale 2,500,000 2,030,000  
National Lending | Commercial finance | Term Extensions and Reduced Payments      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
TDRs subsequent default, recorded investment 6,700 9,800  
National Lending | Commercial finance | Payment Deferral      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
TDRs subsequent default, recorded investment 5,900 1,500  
National Lending | Commercial finance | Payment Deferral | 60-89 Days Past Due      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
TDRs subsequent default, recorded investment $ 5,900 $ 1,500  
v3.25.3
LOANS AND LEASES, NET - Schedule of Loans Purchased and Sold, by Portfolio Segment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Loans Purchased      
Loans held for investment $ 226,228 $ 298,262  
Loans Sold      
Loans held for sale 2,767,616 2,036,084 $ 1,139,881
Loans held for investment 2,913,774 2,036,084  
National Lending | Commercial finance      
Loans Purchased      
Loans held for investment 20,811 13,782  
Loans Sold      
Loans held for sale 563,997 99,005  
National Lending | Warehouse finance      
Loans Purchased      
Loans held for investment 205,417 284,480  
National Lending | Consumer finance      
Loans Sold      
Loans held for sale $ 2,349,777 $ 1,937,079  
v3.25.3
LOANS AND LEASES, NET - Direct Financing and Sales-type Leases, and Lease Receivable Maturity (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Loans and Leases Receivable Disclosure [Abstract]      
Minimum lease payments receivable $ 157,271 $ 162,757  
Unguaranteed residual assets 6,785 9,300  
Unamortized initial direct costs 68 102  
Unearned income (14,820) (19,883)  
Total net investment in direct financing and sales-type leases 149,304 152,276  
Interest income - loans and leases      
Interest income on net investments in direct financing and sales-type leases 11,185 11,827 $ 13,536
Lease income from operating lease payments 50,750 53,365 53,551
Other 8,441 4,921 3,964
Total leasing and equipment finance noninterest income 59,191 58,286 57,515
Total lease income 70,376 $ 70,113 $ 71,051
Sales-type and Direct Financing Leases, Lease Receivable, Fiscal Year Maturity [Abstract]      
2026 50,195    
2027 60,916    
2028 22,911    
2029 15,108    
2030 6,489    
Thereafter 1,652    
Total undiscounted future minimum lease payments receivable for direct financing and sales-type leases 157,271    
Third-party residual value guarantees 0    
Total carrying amount of minimum lease payments for direct financing and sales-type leases $ 157,271    
v3.25.3
LOANS AND LEASES, NET - Allowance for Loan Losses and Recorded Investment in Loans (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance $ 71,765 $ 96,855 $ 63,796
Provision for credit loss 56,545 57,678 109,336
Charge-offs (90,894) (95,245) (83,932)
Recoveries 15,903 12,477 7,655
Ending balance 53,319 71,765 96,855
Unfunded Loan Commitment      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 695 272 366
Provision for credit loss 229 423 (94)
Charge-offs 0 0 0
Recoveries 0 0 0
Ending balance 924 695 272
Total Committed Loans      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 72,460 97,127 64,162
Provision for credit loss 56,774 58,101 109,242
Charge-offs (90,894) (95,245) (83,932)
Recoveries 15,903 12,477 7,655
Ending balance 54,243 72,460 97,127
National Lending | Term lending      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 30,394 25,686 24,621
Provision for credit loss 11,728 20,558 10,541
Charge-offs (16,977) (18,193) (11,295)
Recoveries 3,200 2,343 1,819
Ending balance 28,345 30,394 25,686
National Lending | Asset-based lending      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 1,356 2,738 1,050
Provision for credit loss 11,855 (1,637) 4,005
Charge-offs (5,611) 0 (2,873)
Recoveries 50 255 556
Ending balance 7,650 1,356 2,738
National Lending | Factoring      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 5,757 6,566 6,556
Provision for credit loss (668) 1,420 1,523
Charge-offs (1,479) (2,453) (1,545)
Recoveries 709 224 32
Ending balance 4,319 5,757 6,566
National Lending | Lease financing      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 1,189 3,302 5,902
Provision for credit loss 1,240 (2,010) (1,424)
Charge-offs (1,426) (287) (1,479)
Recoveries 37 184 303
Ending balance 1,040 1,189 3,302
National Lending | SBA/USDA      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 3,273 2,962 3,263
Provision for credit loss 4,100 1,065 (296)
Charge-offs (2,649) (755) (43)
Recoveries 83 1 38
Ending balance 4,807 3,273 2,962
National Lending | Other commercial finance      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 607 3,089 1,310
Provision for credit loss (517) (2,482) 1,779
Charge-offs 0 0 0
Recoveries 0 0 0
Ending balance 90 607 3,089
National Lending | Commercial finance      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 42,576 46,980 44,152
Provision for credit loss 27,829 15,147 18,477
Charge-offs (28,235) (22,837) (18,894)
Recoveries 4,081 3,286 3,245
Ending balance 46,251 42,576 46,980
National Lending | Consumer finance      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 28,669 49,496 19,312
Provision for credit loss 6,497 19,395 55,034
Charge-offs (30,938) (41,628) (26,297)
Recoveries 2,194 1,406 1,447
Ending balance 6,422 28,669 49,496
National Lending | Tax services      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 2 2 5
Provision for credit loss 22,091 22,995 35,775
Charge-offs (31,721) (30,780) (38,741)
Recoveries 9,628 7,785 2,963
Ending balance 0 2 2
National Lending | Warehouse finance      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 518 377 327
Provision for credit loss 128 141 50
Charge-offs 0 0 0
Recoveries 0 0 0
Ending balance 646 518 377
National Lending | Premium finance      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 0 2,637 1,450
Provision for credit loss 91 (1,767) 2,349
Charge-offs (93) (1,149) (1,659)
Recoveries 2 279 497
Ending balance $ 0 $ 0 $ 2,637
v3.25.3
LOANS AND LEASES, NET - Impaired Loans (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Financing Receivable, Impaired [Line Items]    
Impaired loans, unpaid balance $ 67,447 $ 22,210
Average recorded investment 44,909 30,514
National Lending | Term lending    
Financing Receivable, Impaired [Line Items]    
Impaired loans, unpaid balance 33,042 15,491
Average recorded investment 29,965 20,133
National Lending | Asset-based lending    
Financing Receivable, Impaired [Line Items]    
Impaired loans, unpaid balance 24,273 0
Average recorded investment 4,789 4,896
National Lending | Factoring    
Financing Receivable, Impaired [Line Items]    
Average recorded investment 915 2,079
National Lending | Lease financing    
Financing Receivable, Impaired [Line Items]    
Impaired loans, unpaid balance 3,985 5,300
Average recorded investment 3,804 1,176
National Lending | SBA/USDA    
Financing Receivable, Impaired [Line Items]    
Impaired loans, unpaid balance 6,147 1,419
Average recorded investment 5,436 2,230
National Lending | Commercial finance    
Financing Receivable, Impaired [Line Items]    
Impaired loans, unpaid balance 67,447 22,210
Average recorded investment $ 44,909 $ 30,514
v3.25.3
LOANS AND LEASES, NET -Asset Classification of Loans (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Financing Receivable, Credit Quality Indicator [Line Items]      
Total gross loans and leases $ 4,664,908 $ 4,075,195  
Total, Writeoffs 90,894 95,245 $ 83,932
Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 1,068,007 727,446  
2024 544,490 621,029  
2023 428,620 316,217  
2022 238,299 117,862  
2021 76,450 80,750  
Prior 133,867 135,421  
Revolving Loans and Leases 1,125,666 1,043,551  
Total gross loans and leases 3,615,399 3,042,276  
Watch      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 81,912 54,846  
2024 81,624 65,301  
2023 71,304 35,334  
2022 20,334 37,928  
2021 30,632 4,092  
Prior 16,955 5,378  
Revolving Loans and Leases 269,759 283,791  
Total gross loans and leases 572,520 486,670  
Special mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 2,738 44,617  
2024 70,280 3,356  
2023 3,985 9,121  
2022 826 14,928  
2021 11,585 7,412  
Prior 1,147 365  
Revolving Loans and Leases 32,096 13,458  
Total gross loans and leases 122,657 93,257  
Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 37,297 10,835  
2024 27,842 47,309  
2023 56,392 33,418  
2022 23,192 33,303  
2021 22,373 30,482  
Prior 51,488 14,368  
Revolving Loans and Leases 26,267 11,227  
Total gross loans and leases 244,851 180,942  
Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 221 4,314  
2024 3,251 1,650  
2023 2,516 2,302  
2022 3,854 951  
2021 1,652 207  
Prior 70 865  
Revolving Loans and Leases 2,164 12  
Total gross loans and leases 13,728 10,301  
Total      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 1,190,175 842,058  
2024 727,487 738,645  
2023 562,817 396,392  
2022 286,505 204,972  
2021 142,692 122,943  
Prior 203,527 156,397  
Revolving Loans and Leases 1,455,952 1,352,039  
Total gross loans and leases 4,569,155 3,813,446  
National Lending | Total      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025, Writeoffs 74 200  
2024, Writeoffs 8,762 4,541  
2023, Writeoffs 5,380 8,754  
2022, Writeoffs 3,347 3,783  
2021, Writeoffs 2,051 2,391  
Prior, Writeoffs 1,531 715  
Revolving Loans and Leases, Writeoffs 7,090 2,453  
Total, Writeoffs 28,235 22,837  
National Lending | Term lending      
Financing Receivable, Credit Quality Indicator [Line Items]      
Total, Writeoffs 16,977 18,193 11,295
National Lending | Term lending | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 935,599 548,597  
2024 399,968 398,832  
2023 298,678 117,180  
2022 99,820 77,585  
2021 43,216 42,950  
Prior 35,971 24,166  
Revolving Loans and Leases 0 0  
Total gross loans and leases 1,813,252 1,209,310  
National Lending | Term lending | Watch      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 65,674 47,765  
2024 71,326 52,317  
2023 68,737 34,964  
2022 7,222 31,025  
2021 28,882 2,720  
Prior 13,357 2,312  
Revolving Loans and Leases 0 0  
Total gross loans and leases 255,198 171,103  
National Lending | Term lending | Special mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 56 44,617  
2024 68,989 3,106  
2023 3,762 9,121  
2022 826 14,772  
2021 11,078 7,238  
Prior 65 2  
Revolving Loans and Leases 0 0  
Total gross loans and leases 84,776 78,856  
National Lending | Term lending | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 29,792 9,798  
2024 24,666 24,187  
2023 37,845 18,537  
2022 14,137 11,660  
2021 16,050 18,894  
Prior 19,995 2,631  
Revolving Loans and Leases 0 0  
Total gross loans and leases 142,485 85,707  
National Lending | Term lending | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 4,314  
2024 564 1,465  
2023 774 2,247  
2022 3,854 758  
2021 1,615 114  
Prior 22 767  
Revolving Loans and Leases 0 0  
Total gross loans and leases 6,829 9,665  
National Lending | Term lending | Total      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 1,031,121 655,091  
2024 565,513 479,907  
2023 409,796 182,049  
2022 125,859 135,800  
2021 100,841 71,916  
Prior 69,410 29,878  
Revolving Loans and Leases 0 0  
Total gross loans and leases 2,302,540 1,554,641  
2025, Writeoffs 0 114  
2024, Writeoffs 7,818 3,102  
2023, Writeoffs 4,492 8,502  
2022, Writeoffs 3,257 3,576  
2021, Writeoffs 991 2,184  
Prior, Writeoffs 419 715  
Revolving Loans and Leases, Writeoffs 0 0  
Total, Writeoffs 16,977 18,193  
National Lending | Asset-based lending      
Financing Receivable, Credit Quality Indicator [Line Items]      
Total, Writeoffs 5,611 0 2,873
National Lending | Asset-based lending | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
2021 0 0  
Prior 0 0  
Revolving Loans and Leases 301,128 233,268  
Total gross loans and leases 301,128 233,268  
National Lending | Asset-based lending | Watch      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
2021 0 0  
Prior 0 0  
Revolving Loans and Leases 233,541 221,521  
Total gross loans and leases 233,541 221,521  
National Lending | Asset-based lending | Special mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
2021 0 0  
Prior 0 0  
Revolving Loans and Leases 31,702 13,187  
Total gross loans and leases 31,702 13,187  
National Lending | Asset-based lending | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
2021 0 0  
Prior 0 0  
Revolving Loans and Leases 24,730 3,921  
Total gross loans and leases 24,730 3,921  
National Lending | Asset-based lending | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0    
2024 0    
2023 0    
2022 0    
2021 0    
Prior 0    
Revolving Loans and Leases 2,164    
Total gross loans and leases 2,164    
National Lending | Asset-based lending | Total      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
2021 0 0  
Prior 0 0  
Revolving Loans and Leases 593,265 471,897  
Total gross loans and leases 593,265 471,897  
2025, Writeoffs 0 0  
2024, Writeoffs 0 0  
2023, Writeoffs 0 0  
2022, Writeoffs 0 0  
2021, Writeoffs 0 0  
Prior, Writeoffs 0 0  
Revolving Loans and Leases, Writeoffs 5,611 0  
Total, Writeoffs 5,611 0  
National Lending | Factoring      
Financing Receivable, Credit Quality Indicator [Line Items]      
Total, Writeoffs 1,479 2,453 1,545
National Lending | Factoring | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
2021 0 0  
Prior 0 0  
Revolving Loans and Leases 179,352 292,436  
Total gross loans and leases 179,352 292,436  
National Lending | Factoring | Watch      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
2021 0 0  
Prior 0 0  
Revolving Loans and Leases 36,218 62,270  
Total gross loans and leases 36,218 62,270  
National Lending | Factoring | Special mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
2021 0 0  
Prior 0 0  
Revolving Loans and Leases 394 271  
Total gross loans and leases 394 271  
National Lending | Factoring | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
2021 0 0  
Prior 0 0  
Revolving Loans and Leases 1,537 7,306  
Total gross loans and leases 1,537 7,306  
National Lending | Factoring | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025   0  
2024   0  
2023   0  
2022   0  
2021   0  
Prior   0  
Revolving Loans and Leases   12  
Total gross loans and leases   12  
National Lending | Factoring | Total      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
2021 0 0  
Prior 0 0  
Revolving Loans and Leases 217,501 362,295  
Total gross loans and leases 217,501 362,295  
2025, Writeoffs 0 0  
2024, Writeoffs 0 0  
2023, Writeoffs 0 0  
2022, Writeoffs 0 0  
2021, Writeoffs 0 0  
Prior, Writeoffs 0 0  
Revolving Loans and Leases, Writeoffs 1,479 2,453  
Total, Writeoffs 1,479 2,453  
National Lending | Lease financing      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025, Writeoffs 0    
2024, Writeoffs 0    
2023, Writeoffs 320    
2022, Writeoffs 0    
2021, Writeoffs 1,005    
Prior, Writeoffs 101    
Revolving Loans and Leases, Writeoffs 0    
Total, Writeoffs 1,426 287 1,479
National Lending | Lease financing | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 43,710 44,883  
2024 20,259 48,851  
2023 36,483 12,862  
2022 2,270 7,101  
2021 1,089 7,938  
Prior 4,439 1,733  
Revolving Loans and Leases 0 0  
Total gross loans and leases 108,250 123,368  
National Lending | Lease financing | Watch      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 13,587 1,837  
2024 5,181 3,537  
2023 13 370  
2022 635 6,264  
2021 1,059 1,362  
Prior 0 40  
Revolving Loans and Leases 0 0  
Total gross loans and leases 20,475 13,410  
National Lending | Lease financing | Special mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 941 250  
2023 223 0  
2022 0 0  
2021 181 174  
Prior 44 0  
Revolving Loans and Leases 0 0  
Total gross loans and leases 1,389 424  
National Lending | Lease financing | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 7,190 0  
2024 0 6,691  
2023 5,375 2,723  
2022 1,377 2,717  
2021 4,088 2,069  
Prior 905 603  
Revolving Loans and Leases 0 0  
Total gross loans and leases 18,935 14,803  
National Lending | Lease financing | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 0  
2023 150 0  
2022 0 138  
2021 37 31  
Prior 0 0  
Revolving Loans and Leases 0 0  
Total gross loans and leases 187 169  
National Lending | Lease financing | Total      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 64,487 46,720  
2024 26,381 59,329  
2023 42,244 15,955  
2022 4,282 16,220  
2021 6,454 11,574  
Prior 5,388 2,376  
Revolving Loans and Leases 0 0  
Total gross loans and leases 149,236 152,174  
2025, Writeoffs   0  
2024, Writeoffs   0  
2023, Writeoffs   0  
2022, Writeoffs   207  
2021, Writeoffs   80  
Prior, Writeoffs   0  
Revolving Loans and Leases, Writeoffs   0  
Total, Writeoffs   287  
National Lending | Premium finance      
Financing Receivable, Credit Quality Indicator [Line Items]      
Total, Writeoffs 93 1,149 1,659
National Lending | Premium finance | Total      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025, Writeoffs 0 86  
2024, Writeoffs 62 890  
2023, Writeoffs 31 173  
2022, Writeoffs 0 0  
2021, Writeoffs 0 0  
Prior, Writeoffs 0 0  
Revolving Loans and Leases, Writeoffs 0 0  
Total, Writeoffs 93 1,149  
National Lending | SBA/USDA      
Financing Receivable, Credit Quality Indicator [Line Items]      
Total, Writeoffs 2,649 755 43
National Lending | SBA/USDA | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 79,928 60,636  
2024 61,063 171,136  
2023 93,459 179,490  
2022 136,075 20,825  
2021 19,674 28,588  
Prior 30,962 39,319  
Revolving Loans and Leases 0 0  
Total gross loans and leases 421,161 499,994  
National Lending | SBA/USDA | Watch      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 2,651 5,244  
2024 5,117 6,967  
2023 136 0  
2022 12,477 639  
2021 691 10  
Prior 3,598 3,026  
Revolving Loans and Leases 0 0  
Total gross loans and leases 24,670 15,886  
National Lending | SBA/USDA | Special mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 2,682 0  
2024 350 0  
2023 0 0  
2022 0 156  
2021 326 0  
Prior 1,038 363  
Revolving Loans and Leases 0 0  
Total gross loans and leases 4,396 519  
National Lending | SBA/USDA | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 315 1,037  
2024 3,176 15,923  
2023 12,721 12,158  
2022 7,678 2,003  
2021 2,235 9,519  
Prior 30,588 11,134  
Revolving Loans and Leases 0 0  
Total gross loans and leases 56,713 51,774  
National Lending | SBA/USDA | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 221 0  
2024 2,687 185  
2023 1,592 55  
2022 0 55  
2021 0 62  
Prior 48 98  
Revolving Loans and Leases 0 0  
Total gross loans and leases 4,548 455  
National Lending | SBA/USDA | Total      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 85,797 66,917  
2024 72,393 194,211  
2023 107,908 191,703  
2022 156,230 23,678  
2021 22,926 38,179  
Prior 66,234 53,940  
Revolving Loans and Leases 0 0  
Total gross loans and leases 511,488 568,628  
2025, Writeoffs 74 0  
2024, Writeoffs 882 549  
2023, Writeoffs 537 79  
2022, Writeoffs 90 0  
2021, Writeoffs 55 127  
Prior, Writeoffs 1,011 0  
Revolving Loans and Leases, Writeoffs 0 0  
Total, Writeoffs 2,649 755  
National Lending | Other commercial finance      
Financing Receivable, Credit Quality Indicator [Line Items]      
Total, Writeoffs 0 0 0
National Lending | Other commercial finance | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 8,770 73,330  
2024 63,200 2,210  
2023 0 6,685  
2022 134 12,351  
2021 12,471 1,274  
Prior 62,495 70,203  
Revolving Loans and Leases 0 0  
Total gross loans and leases 147,070 166,053  
National Lending | Other commercial finance | Watch      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 2,480  
2023 2,418 0  
2022 0 0  
2021 0 0  
Prior 0 0  
Revolving Loans and Leases 0 0  
Total gross loans and leases 2,418 2,480  
National Lending | Other commercial finance | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 508  
2023 451 0  
2022 0 16,923  
2021 0 0  
Prior 0 0  
Revolving Loans and Leases 0 0  
Total gross loans and leases 451 17,431  
National Lending | Other commercial finance | Total      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 8,770 73,330  
2024 63,200 5,198  
2023 2,869 6,685  
2022 134 29,274  
2021 12,471 1,274  
Prior 62,495 70,203  
Revolving Loans and Leases 0 0  
Total gross loans and leases 149,939 185,964  
2025, Writeoffs 0 0  
2024, Writeoffs 0 0  
2023, Writeoffs 0 0  
2022, Writeoffs 0 0  
2021, Writeoffs 0 0  
Prior, Writeoffs 0 0  
Revolving Loans and Leases, Writeoffs 0 0  
Total, Writeoffs 0 0  
National Lending | Warehouse finance      
Financing Receivable, Credit Quality Indicator [Line Items]      
Total, Writeoffs 0 0 $ 0
National Lending | Warehouse finance | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
2021 0 0  
Prior 0 0  
Revolving Loans and Leases 645,186 517,847  
Total gross loans and leases 645,186 517,847  
National Lending | Warehouse finance | Total      
Financing Receivable, Credit Quality Indicator [Line Items]      
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
2021 0 0  
Prior 0 0  
Revolving Loans and Leases 645,186 517,847  
Total gross loans and leases 645,186 517,847  
2025, Writeoffs 0 0  
2024, Writeoffs 0 0  
2023, Writeoffs 0 0  
2022, Writeoffs 0 0  
2021, Writeoffs 0 0  
Prior, Writeoffs 0 0  
Revolving Loans and Leases, Writeoffs 0 0  
Total, Writeoffs $ 0 $ 0  
v3.25.3
LOANS AND LEASES, NET - Past Due Loans (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
Financing Receivable, Past Due [Line Items]    
Loans and leases $ 4,664,908 $ 4,075,195
Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 93,300 248,800
Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,500 8,800
Accruing and Nonaccruing Loans and Leases    
Financing Receivable, Past Due [Line Items]    
Loans and leases 4,844,427 4,762,759
Accruing and Nonaccruing Loans and Leases | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Loans and leases 4,665,006 4,071,071
Accruing and Nonaccruing Loans and Leases | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Loans and leases 179,421 691,688
Accruing and Nonaccruing Loans and Leases | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,302,540 1,554,641
Accruing and Nonaccruing Loans and Leases | National Lending | Asset-based lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 593,265 471,897
Accruing and Nonaccruing Loans and Leases | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Loans and leases 217,501 362,295
Accruing and Nonaccruing Loans and Leases | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Loans and leases 149,236 152,174
Accruing and Nonaccruing Loans and Leases | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 511,488 568,628
Accruing and Nonaccruing Loans and Leases | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 149,939 185,964
Accruing and Nonaccruing Loans and Leases | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 3,923,969 3,295,599
Accruing and Nonaccruing Loans and Leases | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 93,319 248,800
Accruing and Nonaccruing Loans and Leases | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,532 8,825
Accruing and Nonaccruing Loans and Leases | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 645,186 517,847
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Loans and leases 34,733 29,609
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 32,414 27,343
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 2,319 2,266
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 29,283 19,776
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 2,222 3,605
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
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 31,505 23,381
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 909 3,962
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 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 20,699 12,218
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 18,839 10,857
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 1,860 1,361
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 8,869 5,124
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 316 1,595
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 8,876 952
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 18,061 7,671
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 778 3,186
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 58,657 32,811
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 57,136 31,761
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 1,521 1,050
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 30,734 17,694
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 0
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 5,291 109
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 17,808 2,172
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 0
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 53,833 19,975
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 826 3,053
Accruing and Nonaccruing Loans and Leases | > 89 Days Past Due | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,477 8,733
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 114,089 74,638
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 108,389 69,961
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Loans and leases 5,700 4,677
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 68,886 42,594
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Asset-based lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
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 7,829 5,309
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 26,684 3,124
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 103,399 51,027
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,513 10,201
Accruing and Nonaccruing Loans and Leases | Total Past Due | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,477 8,733
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 4,730,338 4,688,121
Accruing and Nonaccruing Loans and Leases | Current | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Loans and leases 4,556,617 4,001,110
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Loans and leases 173,721 687,011
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,233,654 1,512,047
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Asset-based lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 593,265 471,897
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Loans and leases 217,501 362,295
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Loans and leases 141,407 146,865
Accruing and Nonaccruing Loans and Leases | Current | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 484,804 565,504
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 149,939 185,964
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 3,820,570 3,244,572
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 90,806 238,599
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 55 92
Accruing and Nonaccruing Loans and Leases | Current | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 645,186 517,847
Nonperforming Loans and Leases    
Financing Receivable, Past Due [Line Items]    
Loans and leases 99,140 41,562
Nonaccrual Balance 81,416 26,412
Nonperforming Loans and Leases | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Loans and leases 97,619 40,512
Nonaccrual Balance 81,416 26,412
Nonperforming Loans and Leases | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Loans and leases 1,521 1,050
Nonaccrual Balance 0 0
Nonperforming Loans and Leases | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 43,379 25,385
Nonaccrual Balance 38,959 23,462
Nonperforming Loans and Leases | National Lending | Asset-based lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 24,327 0
Nonaccrual Balance 24,327 0
Nonperforming Loans and Leases | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Loans and leases 1,291 29
Nonaccrual Balance 1,291 29
Nonperforming Loans and Leases | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Loans and leases 5,335 806
Nonaccrual Balance 4,268 746
Nonperforming Loans and Leases | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 19,984 2,506
Nonaccrual Balance 12,571 2,175
Nonperforming Loans and Leases | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Nonaccrual Balance 0 0
Nonperforming Loans and Leases | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 94,316 28,726
Nonaccrual Balance 81,416 26,412
Nonperforming Loans and Leases | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 826 3,053
Nonaccrual Balance 0 0
Nonperforming Loans and Leases | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,477 8,733
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 17,724 15,150
Nonperforming Loans and Leases | > 89 Days Past Due | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Loans and leases 16,203 14,100
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Loans and leases 1,521 1,050
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Loans and leases 4,420 1,923
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 1,067 60
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Loans and leases 7,413 331
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 0 0
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 12,900 2,314
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases 826 3,053
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Loans and leases 2,477 8,733
Nonperforming Loans and Leases | > 89 Days Past Due | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Loans and leases $ 0 $ 0
v3.25.3
LOANS AND LEASES, NET - Nonaccrual (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
Financing Receivable, Nonaccrual [Line Items]    
Total gross loans and leases $ 4,664,908 $ 4,075,195
Consumer finance    
Financing Receivable, Nonaccrual [Line Items]    
Total gross loans and leases 93,300 248,800
Tax services    
Financing Receivable, Nonaccrual [Line Items]    
Total gross loans and leases 2,500 8,800
Nonaccrual Loans    
Financing Receivable, Nonaccrual [Line Items]    
2025 221 9,281
2024 5,988 4,748
2023 31,045 5,435
2022 3,469 1,487
2021 14,420 1,369
Prior 655 4,063
Revolving Loans and Leases 25,618 29
Total gross loans and leases 81,416 26,412
Nonaccrual with No ACL 24,167 3,260
Nonaccrual Loans | National Lending | Term lending    
Financing Receivable, Nonaccrual [Line Items]    
2025 0 9,281
2024 1,383 3,433
2023 23,220 5,369
2022 3,469 1,386
2021 10,887 625
Prior 0 3,368
Revolving Loans and Leases 0 0
Total gross loans and leases 38,959 23,462
Nonaccrual with No ACL 18,072 2,579
Nonaccrual Loans | National Lending | Asset-based lending    
Financing Receivable, Nonaccrual [Line Items]    
2025 0  
2024 0  
2023 0  
2022 0  
2021 0  
Prior 0  
Revolving Loans and Leases 24,327  
Total gross loans and leases 24,327  
Nonaccrual with No ACL 2,110  
Nonaccrual Loans | National Lending | Factoring    
Financing Receivable, Nonaccrual [Line Items]    
2025 0 0
2024 0 0
2023 0 0
2022 0 0
2021 0 0
Prior 0 0
Revolving Loans and Leases 1,291 29
Total gross loans and leases 1,291 29
Nonaccrual with No ACL 0 0
Nonaccrual Loans | National Lending | Lease financing    
Financing Receivable, Nonaccrual [Line Items]    
2025 0 0
2024 0 577
2023 150 11
2022 0 46
2021 3,511 2
Prior 607 110
Revolving Loans and Leases 0 0
Total gross loans and leases 4,268 746
Nonaccrual with No ACL 3,985 0
Nonaccrual Loans | National Lending | SBA/USDA    
Financing Receivable, Nonaccrual [Line Items]    
2025 221 0
2024 4,605 738
2023 7,675 55
2022 0 55
2021 22 742
Prior 48 585
Revolving Loans and Leases 0 0
Total gross loans and leases 12,571 2,175
Nonaccrual with No ACL 0 681
Nonaccrual Loans | National Lending | Commercial finance    
Financing Receivable, Nonaccrual [Line Items]    
2025 221 9,281
2024 5,988 4,748
2023 31,045 5,435
2022 3,469 1,487
2021 14,420 1,369
Prior 655 4,063
Revolving Loans and Leases 25,618 29
Total gross loans and leases 81,416 26,412
Nonaccrual with No ACL 24,167 3,260
90 or More Days Delinquent and Accruing    
Financing Receivable, Nonaccrual [Line Items]    
2025 4,655 10,500
2024 4,620 2,481
2023 6,013 1,073
2022 848 809
2021 14 275
Prior 1,574 12
Revolving Loans and Leases 0 0
Total gross loans and leases 17,724 15,150
90 or More Days Delinquent and Accruing | Total loans and leases held for investment    
Financing Receivable, Nonaccrual [Line Items]    
2025 4,134 9,469
2024 3,785 2,462
2023 5,863 1,073
2022 833 809
2021 14 275
Prior 1,574 12
Revolving Loans and Leases 0 0
Total gross loans and leases 16,203 14,100
90 or More Days Delinquent and Accruing | National Lending | Loans held for sale    
Financing Receivable, Nonaccrual [Line Items]    
2025 521 1,031
2024 835 19
2023 150 0
2022 15 0
2021 0 0
Prior 0 0
Revolving Loans and Leases 0 0
Total gross loans and leases 1,521 1,050
90 or More Days Delinquent and Accruing | National Lending | Term lending    
Financing Receivable, Nonaccrual [Line Items]    
2025 0 0
2024 2,942 621
2023 0 354
2022 0 719
2021 0 217
Prior 1,478 12
Revolving Loans and Leases 0 0
Total gross loans and leases 4,420 1,923
90 or More Days Delinquent and Accruing | National Lending | Lease financing    
Financing Receivable, Nonaccrual [Line Items]    
2025 277 0
2024 0 0
2023 0 0
2022 789 2
2021 1 58
Prior 0 0
Revolving Loans and Leases 0 0
Total gross loans and leases 1,067 60
90 or More Days Delinquent and Accruing | National Lending | SBA/USDA    
Financing Receivable, Nonaccrual [Line Items]    
2025 1,139 0
2024 495 0
2023 5,683 331
2022 0 0
2021 0 0
Prior 96 0
Revolving Loans and Leases 0 0
Total gross loans and leases 7,413 331
90 or More Days Delinquent and Accruing | National Lending | Commercial finance    
Financing Receivable, Nonaccrual [Line Items]    
2025 1,416 0
2024 3,437 621
2023 5,683 685
2022 789 721
2021 1 275
Prior 1,574 12
Revolving Loans and Leases 0 0
Total gross loans and leases 12,900 2,314
90 or More Days Delinquent and Accruing | National Lending | Consumer finance    
Financing Receivable, Nonaccrual [Line Items]    
2025 241 736
2024 348 1,841
2023 180 388
2022 44 88
2021 13 0
Prior 0 0
Revolving Loans and Leases 0 0
Total gross loans and leases 826 3,053
90 or More Days Delinquent and Accruing | National Lending | Tax services    
Financing Receivable, Nonaccrual [Line Items]    
2025 2,477 8,733
2024 0 0
2023 0 0
2022 0 0
2021 0 0
Prior 0 0
Revolving Loans and Leases 0 0
Total gross loans and leases $ 2,477 $ 8,733
v3.25.3
EARNINGS PER COMMON SHARE ("EPS") (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Basic income per common share:                              
Net income attributable to Pathward Financial, Inc. $ 38,801 $ 42,147 $ 74,957 $ 29,967 $ 33,533 $ 44,869 $ 69,918 $ 34,899 $ 25,277 $ 36,080 $ 54,119 $ 27,790 $ 185,872 $ 183,219 $ 143,266
Dividends and undistributed earnings allocated to participating securities                         (691) (1,678) (2,148)
Basic net earnings available to common stockholders                         185,181 181,541 141,118
Undistributed earnings allocated to nonvested restricted stockholders                         673 1,631 2,067
Reallocation of undistributed earnings to nonvested restricted stockholders                         (670) (1,629) (2,060)
Diluted net earnings available to common stockholders                         $ 185,184 $ 181,543 $ 141,125
Total weighted average common shares outstanding (in shares)                         23,397,489 25,169,937 26,833,079
Effect of dilutive securities                              
Total effect of dilutive securities (in shares)                         125,140 31,813 92,527
Total weighted average diluted common shares outstanding (in shares)                         23,522,629 25,201,750 26,925,606
Net earnings per common share:                              
Basic earnings per common share (in dollars per share) $ 1.69 $ 1.83 $ 3.16 $ 1.23 $ 1.34 $ 1.78 $ 2.74 $ 1.34 $ 0.96 $ 1.35 $ 1.97 $ 0.98 $ 7.91 $ 7.21 $ 5.26
Diluted earnings per common share (in dollars per share) $ 1.69 $ 1.81 $ 3.14 $ 1.23 $ 1.34 $ 1.78 $ 2.74 $ 1.34 $ 0.96 $ 1.34 $ 1.96 $ 0.98 $ 7.87 $ 7.20 $ 5.24
Weighted average shares of nonvested restricted stock, antidilutive (in shares)                         87,324 232,601 408,477
PSUs                              
Effect of dilutive securities                              
PSUs (in shares)                         125,140 31,813 92,527
v3.25.3
PREMISES, FURNITURE, AND EQUIPMENT, NET (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Property, Plant and Equipment [Line Items]      
Premises, furniture, and equipment, gross $ 93,013 $ 86,862  
Less: accumulated depreciation and amortization (52,381) (47,807)  
Net book value 40,632 39,055  
Depreciation expense of premises, furniture, and equipment 9,600 10,200 $ 11,100
Land      
Property, Plant and Equipment [Line Items]      
Premises, furniture, and equipment, gross 1,354 1,354  
Buildings      
Property, Plant and Equipment [Line Items]      
Premises, furniture, and equipment, gross 22,203 21,685  
Furniture, fixtures, and equipment      
Property, Plant and Equipment [Line Items]      
Premises, furniture, and equipment, gross $ 69,456 $ 63,823  
v3.25.3
RENTAL EQUIPMENT, NET - Schedule of Rental Equipment (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
Property, Plant and Equipment [Line Items]    
Total $ 290,311 $ 329,279
Accumulated depreciation (131,530) (124,987)
Unamortized initial direct costs 665 1,047
Net book value 159,446 205,339
Computers and IT networking equipment    
Property, Plant and Equipment [Line Items]    
Total 11,723 21,308
Motor vehicles and other    
Property, Plant and Equipment [Line Items]    
Total 141,101 140,920
Other furniture and equipment    
Property, Plant and Equipment [Line Items]    
Total 26,040 38,755
Solar panels and equipment    
Property, Plant and Equipment [Line Items]    
Total $ 111,447 $ 128,296
v3.25.3
RENTAL EQUIPMENT, NET - Schedule of Operating Leases, Future Minimum Payments Receivable (Details)
$ in Thousands
Sep. 30, 2025
USD ($)
Property, Plant and Equipment [Abstract]  
2026 $ 34,404
2027 26,647
2028 18,295
2029 12,965
2030 3,677
Thereafter 2,808
Total $ 98,796
v3.25.3
GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($)
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]      
Goodwill $ 297,928,000 $ 309,505,000 $ 309,505,000
Impairment expense $ 0 $ 0  
v3.25.3
GOODWILL AND INTANGIBLE ASSETS - Schedule of Goodwill (Details)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
USD ($)
Goodwill [Roll Forward]  
Beginning balance $ 309,505
Divestiture (11,577)
Ending balance 297,928
Consumer  
Goodwill [Roll Forward]  
Beginning balance 87,145
Divestiture 0
Ending balance 87,145
Commercial  
Goodwill [Roll Forward]  
Beginning balance 222,360
Divestiture (11,577)
Ending balance 210,783
Corporate Services/Other  
Goodwill [Roll Forward]  
Beginning balance 0
Divestiture 0
Ending balance $ 0
v3.25.3
GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Asses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Intangible Assets [Roll Forward]      
Beginning Balance $ 16,589 $ 20,720  
Amortization during the period $ (3,456) (4,131) $ (4,971)
Impairment Of Intangible Asset, Finite Lived, Statement Of Income Or Comprehensive Income, Extensible Enumeration, Not Disclosed Flag Write-offs and disposals during the period    
Write-offs and disposals during the period $ 631    
Ending Balance 12,502 16,589 20,720
Gross carrying amount 92,145 99,385  
Accumulated amortization (68,572) (71,725)  
Accumulated impairment (11,071) (11,071)  
Total anticipated intangible amortization 12,502 16,589 20,720
Trademark      
Intangible Assets [Roll Forward]      
Beginning Balance 6,422 7,477  
Amortization during the period (1,076) (1,055)  
Write-offs and disposals during the period 0    
Ending Balance 5,346 6,422 7,477
Gross carrying amount 13,774 13,774  
Accumulated amortization (8,428) (7,352)  
Accumulated impairment 0 0  
Total anticipated intangible amortization $ 5,346 6,422 7,477
Trademark | Minimum      
Intangible Assets [Roll Forward]      
Useful life 5 years    
Trademark | Maximum      
Intangible Assets [Roll Forward]      
Useful life 15 years    
Non-Compete      
Intangible Assets [Roll Forward]      
Beginning Balance $ 0 0  
Amortization during the period 0 0  
Write-offs and disposals during the period 0    
Ending Balance 0 0 0
Gross carrying amount 301 301  
Accumulated amortization (301) (301)  
Accumulated impairment 0 0  
Total anticipated intangible amortization 0 0 0
Customer Relationships      
Intangible Assets [Roll Forward]      
Beginning Balance 6,566 9,110  
Amortization during the period (1,824) (2,544)  
Write-offs and disposals during the period 631    
Ending Balance 4,111 6,566 9,110
Gross carrying amount 70,338 77,578  
Accumulated amortization (55,309) (60,094)  
Accumulated impairment (10,918) (10,918)  
Total anticipated intangible amortization $ 4,111 6,566 9,110
Customer Relationships | Minimum      
Intangible Assets [Roll Forward]      
Useful life 10 years    
Customer Relationships | Maximum      
Intangible Assets [Roll Forward]      
Useful life 30 years    
All Others      
Intangible Assets [Roll Forward]      
Beginning Balance $ 3,601 4,133  
Amortization during the period (556) (532)  
Write-offs and disposals during the period 0    
Ending Balance 3,045 3,601 4,133
Gross carrying amount 7,732 7,732  
Accumulated amortization (4,534) (3,978)  
Accumulated impairment (153) (153)  
Total anticipated intangible amortization $ 3,045 $ 3,601 $ 4,133
All Others | Minimum      
Intangible Assets [Roll Forward]      
Useful life 3 years    
All Others | Maximum      
Intangible Assets [Roll Forward]      
Useful life 20 years    
v3.25.3
GOODWILL AND INTANGIBLE ASSETS - Schedule of Future Amortization (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]      
2026 $ 3,103    
2027 2,483    
2028 2,194    
2029 1,581    
2030 1,473    
Thereafter 1,668    
Total anticipated intangible amortization $ 12,502 $ 16,589 $ 20,720
v3.25.3
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES - Narrative (Details)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
USD ($)
office
Sep. 30, 2024
USD ($)
Leases [Abstract]    
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets
Operating lease, right-of-use asset $ 22,700 $ 24,400
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other liabilities Accrued expenses and other liabilities
Operating lease liability $ 23,956 $ 26,000
Lease ROU assets and liabilities, number of office locations | office 2  
Gain (loss) on remeasurement of ROU asset depleted $ 500  
v3.25.3
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES - Lease Maturity (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
Leases [Abstract]    
2026 $ 3,441  
2027 3,356  
2028 3,447  
2029 3,486  
2030 3,276  
Thereafter 9,831  
Total undiscounted future minimum lease payments 26,837  
Discount (2,881)  
Total operating lease liabilities $ 23,956 $ 26,000
v3.25.3
OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES - Lease Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Leases [Abstract]      
Weighted-average discount rate 2.65% 2.45%  
Weighted-average remaining lease term (years) 7 years 11 months 19 days 8 years 9 months 10 days  
Lease expense $ 3,807 $ 3,997 $ 3,951
Short-term and variable lease cost 78 75 142
Sublease income (1,377) (1,300) (1,409)
Total lease cost for operating leases $ 2,508 $ 2,772 $ 2,684
v3.25.3
TIME CERTIFICATES OF DEPOSIT (Details) - USD ($)
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Deposits [Line Items]    
IRA deposit accounts permanently insured by DIF under management of FDIC $ 250,000  
Time certificates of deposits in denominations of $250,000 or more 2,600,000 $ 4,100,000
Time Deposits, Fiscal Year Maturity [Abstract]    
2026 2,636,000  
2027 0  
2028 0  
2029 0  
2030 0  
Thereafter 0  
Total 2,636,000  
Non-IRA deposits accounts permanently insured under Dodd-Frank act by DIF under management of FDIC 250,000  
Wholesale Deposits    
Time Deposits, Fiscal Year Maturity [Abstract]    
Wholesale deposits $ 0  
v3.25.3
SHORT-TERM AND LONG-TERM BORROWINGS - Short Term Debt (Details) - USD ($)
Sep. 30, 2025
Sep. 30, 2024
Short-Term Debt [Abstract]    
Short-term borrowings $ 9,000,000 $ 377,000,000
Total loans and leases, net 4,611,589,000 4,003,430,000
Securities sold under agreements to repurchase, total 0 0
Asset Pledged as Collateral    
Short-Term Debt [Abstract]    
Total loans and leases, net 223,000,000.0 136,900,000
Estimated Fair Value    
Short-Term Debt [Abstract]    
Fair value 4,599,269,000 4,036,490,000
Estimated Fair Value | Asset Pledged as Collateral with Right | Federal Home Loan Bank Advances    
Short-Term Debt [Abstract]    
Fair value 955,300,000 1,040,000,000.00
Overnight fed funds purchased    
Short-Term Debt [Abstract]    
Short-term borrowings 9,000,000 377,000,000
Overnight fed funds purchased | FHLB    
Short-Term Debt [Abstract]    
Short-term borrowings 9,000,000 257,000,000.0
Overnight fed funds purchased | Other Financial Institutions    
Short-Term Debt [Abstract]    
Short-term borrowings $ 0 $ 120,000,000
v3.25.3
SHORT-TERM AND LONG-TERM BORROWINGS - Long Term Debt (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
Debt Instrument [Line Items]    
Trust preferred securities $ 13,661 $ 13,661
Subordinated debentures, net of issuance costs 19,795 19,693
Long-term borrowings 33,456 33,354
Maturities of Long-term Debt    
2026 0  
2027 0  
2028 0  
2029 0  
2030 0  
Thereafter 33,456  
Total long-term borrowings 33,456 $ 33,354
Trust preferred securities    
Debt Instrument [Line Items]    
Long-term borrowings 13,661  
Maturities of Long-term Debt    
2026 0  
2027 0  
2028 0  
2029 0  
2030 0  
Thereafter 13,661  
Total long-term borrowings 13,661  
Subordinated debentures    
Debt Instrument [Line Items]    
Long-term borrowings 19,795  
Maturities of Long-term Debt    
2026 0  
2027 0  
2028 0  
2029 0  
2030 0  
Thereafter 19,795  
Total long-term borrowings 19,795  
Other long-term borrowings    
Debt Instrument [Line Items]    
Long-term borrowings 0  
Maturities of Long-term Debt    
2026 0  
2027 0  
2028 0  
2029 0  
2030 0  
Thereafter 0  
Total long-term borrowings $ 0  
v3.25.3
SHORT-TERM AND LONG-TERM BORROWINGS - Long Term Debt Narrative (Details)
$ / shares in Units, $ in Thousands
 12 Months Ended
Sep. 23, 2023
USD ($)
Sep. 30, 2025
USD ($)
Period
$ / shares
shares
Sep. 30, 2024
USD ($)
Debt Instrument [Line Items]      
Subordinated debentures, net of issuance costs   $ 19,795 $ 19,693
6 Point 625 Percent Fixed to Floating Rate Subordinated Debt, Due 2032 | Subordinated debentures      
Debt Instrument [Line Items]      
Proceeds from long-term borrowings $ 20,000    
Interest rate, stated percentage 6.625%    
5.75% Fixed to Floating Rate Subordinated Debt, Due August 15, 2026 | Subordinated debentures      
Debt Instrument [Line Items]      
Subordinated debentures, net of issuance costs   $ 19,800  
Crestmark Bancorp, Inc.      
Debt Instrument [Line Items]      
Effective interest rate   7.24%  
Long-term borrowings   $ 3,400  
Debt instrument, term   30 years  
Interest payment deferment period   5 years  
Tenor Spread Adjustment | Crestmark Bancorp, Inc.      
Debt Instrument [Line Items]      
Basis spread on variable rate   0.26161%  
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Crestmark Bancorp, Inc.      
Debt Instrument [Line Items]      
Basis spread on variable rate   3.00%  
First Midwest Financial Capital Trust I      
Debt Instrument [Line Items]      
Issuance of trust preferred securities (in shares) | shares   10,000  
Number of authorized shares of trust preferred securities issued (in shares) | shares   10,310  
Number of consecutive semi-annual periods that interest payments on capital securities may be deferred | Period   10  
Redemption price per capital security (in dollars per share) | $ / shares   $ 1,000  
First Midwest Financial Capital Trust I | Tenor Spread Adjustment      
Debt Instrument [Line Items]      
Basis spread on variable rate   0.42826%  
First Midwest Financial Capital Trust I | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate      
Debt Instrument [Line Items]      
Basis spread on variable rate   3.75%  
Effective interest rate   8.03% 8.43%
First Midwest Financial Capital Trust I | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum      
Debt Instrument [Line Items]      
Effective interest rate   12.50%  
First Midwest Financial Capital Trust I | First Midwest Financial Capital Trust I      
Debt Instrument [Line Items]      
Equity method investment, ownership percentage   100.00%  
v3.25.3
STOCKHOLDERS' EQUITY (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Aug. 25, 2023
Sep. 03, 2021
Equity, Class of Treasury Stock [Line Items]        
Stock repurchased during period (in shares) 66,446 126,221    
Stock repurchased during period, value $ 4.6 $ 6.1    
Retired common stock held in treasury (in shares) 0 129,929    
Common Stock        
Equity, Class of Treasury Stock [Line Items]        
Shares authorized to be repurchased (in shares)   146,435   6,000,000
Additional shares authorized to be repurchased (in shares)     7,000,000  
Stock repurchased under repurchase program (in shares) 2,062,184 1,520,001    
Remaining number of shares authorized to be repurchased (in shares) 4,937,816      
v3.25.3
STOCK COMPENSATION - Additional Information (Details)
$ in Millions
 12 Months Ended
Sep. 30, 2025
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 | $ $ 7.7
Weighted average remaining period for unrecognized stock based compensation (in years) 1 year 7 months 20 days
Restricted Stock  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Period that options vest 3 years
Restricted Stock | Director  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Period that options vest 1 year
Performance Shares  
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 Shares | Minimum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Payout levels percentage 50.00%
Performance Shares | Maximum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Payout levels percentage 200.00%
v3.25.3
STOCK COMPENSATION - Nonvested Shares (Details) - $ / shares
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Number of Shares    
Shares outstanding, beginning of period (in shares) 248,670  
Shares outstanding, end of period (in shares)   248,670
Weighted Average Fair Value at Grant    
Shares outstanding, beginning of period (in dollars per share) $ 41.19  
Shares outstanding, end of period (in dollars per share)   $ 41.19
Restricted Stock    
Number of Shares    
Shares outstanding, beginning of period (in shares) 248,670 370,151
Granted (in shares) 15,600 181,117
Vested (in shares) (179,669) (288,734)
Forfeited or expired (in shares) (2,904) (13,864)
Shares outstanding, end of period (in shares) 81,697 248,670
Weighted Average Fair Value at Grant    
Shares outstanding, beginning of period (in dollars per share) $ 41.19 $ 35.87
Granted (in dollars per share) 77.42 50.61
Vested (in dollars per share) 41.24 40.22
Forfeited or expired (in dollars per share) 48.17 42.49
Shares outstanding, end of period (in dollars per share) $ 47.77 $ 41.19
Restricted Stock Units (RSUs)    
Number of Shares    
Shares outstanding, beginning of period (in shares) 0  
Granted (in shares) 97,062  
Vested (in shares) 0  
Forfeited or expired (in shares) (4,442)  
Shares outstanding, end of period (in shares) 92,620 0
Weighted Average Fair Value at Grant    
Shares outstanding, beginning of period (in dollars per share) $ 0  
Granted (in dollars per share) 79.20  
Vested (in dollars per share) 0  
Forfeited or expired (in dollars per share) 79.39  
Shares outstanding, end of period (in dollars per share) $ 79.19 $ 0
v3.25.3
STOCK COMPENSATION - Performance Shares (Details) - $ / shares
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Number of Units          
Shares outstanding, beginning of period (in shares) 248,670        
Shares outstanding, end of period (in shares)   248,670      
Weighted Average Fair Value at Grant          
Shares outstanding, beginning of period (in dollars per share) $ 41.19        
Shares outstanding, end of period (in dollars per share)   $ 41.19      
PSUs          
Number of Units          
Shares outstanding, beginning of period (in shares) 142,462 155,804      
Granted (in shares) 34,208 52,125      
Vested (in shares) (34,304) (60,984)      
Forfeited or expired (in shares) 0 (4,483)      
Shares outstanding, end of period (in shares) 142,366 142,462 155,804    
Weighted Average Fair Value at Grant          
Shares outstanding, beginning of period (in dollars per share) $ 47.24 $ 41.20      
Granted (in dollars per share) 79.47 49.61      
Vested (in dollars per share) 57.21 55.47      
Forfeited or expired (in dollars per share) 0 44.59      
Shares outstanding, end of period (in dollars per share) $ 52.59 $ 47.24 $ 41.20    
Target Performance Share Units          
Number of Units          
Granted (in shares)   6,847,000 47,252,000 34,304,000 60,984,000
v3.25.3
STOCK COMPENSATION - Effects to Net Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]      
Tax effects of employee's stock-based compensation expense recognized income $ 1,651 $ 1,873 $ 1,838
Total employee stock-based compensation expense recognized in income, net of tax effects of $1,651, $1,873, and $1,838, respectively $ 7,856 $ 8,416 $ 8,465
v3.25.3
INCOME TAXES (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Federal:      
Current $ 10,407 $ 9,770 $ 8,792
Deferred 15,754 13,276 (6,688)
Federal income tax expense 26,161 23,046 2,104
State:      
Current 9,060 8,172 7,935
Deferred 1,045 2,890 (452)
State tax expense 10,105 11,062 7,483
Income tax expense 36,266 34,108 9,587
Deferred tax assets:      
Allowance for credit losses 12,938 17,647  
Deferred compensation 4,511 4,351  
Stock based compensation 2,084 2,402  
Valuation adjustments 78 175  
General business credits 49,070 55,471  
Accrued expenses 2,807 2,763  
Lease liability 5,930 6,503  
Net unrealized loss on securities available for sale 47,167 50,819  
Premises and equipment 4,998 3,939  
Deferred income 2,386 0  
Other assets 2,276 3,940  
Gross deferred tax assets 134,245 148,010  
Deferred tax liabilities:      
Intangibles (8,366) (7,859)  
Leased assets (80,012) (76,016)  
Right-of-use assets (5,678) (6,218)  
Life insurance redemption (3,493) 0  
Other liabilities (466) (1,346)  
Gross deferred tax liabilities (98,015) (91,439)  
Net deferred tax assets 36,230 56,571  
Amount      
Statutory federal income tax expense and rate 46,841 45,910 32,559
Change in tax rate resulting from:      
State income taxes net of federal benefits 7,983 8,678 5,999
162(m) disallowance 1,540 1,874 919
Tax exempt income (636) (690) (783)
General business credits 20,773 21,132 28,633
Life insurance redemption 3,116 0 0
Other, net (1,805) (532) (474)
Income tax expense $ 36,266 $ 34,108 $ 9,587
Rate      
Statutory federal income tax expense and rate (percent) 21.00% 21.00% 21.00%
State income taxes net of federal benefits (percent) 3.60% 4.00% 3.90%
162 (m) disallowance (percent) 0.70% 0.90% 0.60%
Tax exempt income (percent) (0.30%) (0.30%) (0.50%)
General business credits (percent) 9.30% 9.70% 18.50%
Life insurance redemption (percent) 1.40% 0.00% 0.00%
Other, net (percent) (0.80%) (0.20%) (0.30%)
Total income tax expense (percent) 16.30% 15.70% 6.20%
Unrecognized Tax Benefits [Roll Forward]      
Balance at beginning of fiscal year $ 577 $ 521  
Reductions for tax positions related to prior years (78)    
Additions for tax positions related to prior years   56  
Balance at end of fiscal year $ 499 $ 577 $ 521
v3.25.3
INCOME TAXES - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Income Tax Disclosure [Abstract]      
Gross deferred tax on state net operating loss carryforwards $ 3,600 $ 3,000  
Operating loss carryforwards reserved 3,600 3,000  
Tax credit, investment, amount 19,700 $ 19,700 $ 27,400
Unrecognized tax benefits that, if recognized, would impact the effective rate 499    
Accrued interest related to unrecognized tax benefits $ 57    
v3.25.3
CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS - Financial Measures of Capital (Details)
Sep. 30, 2025
Sep. 30, 2024
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Tier 1 (core) capital (to adjusted total assets), ratio 9.79% 9.05%
Tier 1 (core) capital (to adjusted total assets), minimum requirement for capital adequacy purposes, ratio 4.00% 4.00%
Tier 1 (core) capital (to adjusted total assets), minimum requirement to be well capitalized under prompt corrective action provisions, ratio 5.00% 5.00%
Common equity Tier 1 (to risk-weighted assets), actual ratio 12.70% 12.26%
Common equity Tier 1 (to risk-weighted assets), minimum requirement for capital adequacy purposes, ratio 4.50% 4.50%
Common equity Tier 1 (to risk-weighted assets), minimum requirement to be well capitalized under prompt corrective action provisions, ratio 6.50% 6.50%
Tier 1 (core) capital ( to risk weighted assets), ratio 0.1295 0.1252
Tier 1 (core) capital (to risk-weighted assets), minimum requirement for capital adequacy purposes, ratio 0.0600 0.0600
Tier 1 (core) capital (to risk-weighted assets), minimum requirement to be well capitalized under prompt corrective action provisions, ratio 0.0800 0.0800
Total qualifying capital (to risk-weighted assets), ratio 14.27% 14.14%
Total qualifying capital (to risk-weighted assets), minimum requirement for capital adequacy purposes, ratio 8.00% 8.00%
Total qualifying capital (to risk-weighted assets), minimum requirement to be well capitalized under prompt corrective action provisions, ratio 10.00% 10.00%
MetaBank    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Tier 1 (core) capital (to adjusted total assets), ratio 10.00% 9.22%
Common equity Tier 1 (to risk-weighted assets), actual ratio 13.23% 12.78%
Tier 1 (core) capital ( to risk weighted assets), ratio 0.1323 0.1278
Total qualifying capital (to risk-weighted assets), ratio 14.19% 14.03%
v3.25.3
CAPITAL REQUIREMENTS AND RESTRICTIONS ON RETAINED EARNINGS - Reconciliation of Capital Amounts (Details)
$ in Thousands
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Reconciliation of capital amounts [Abstract]        
Total stockholders' equity $ 857,454 $ 822,189 $ 618,347 $ 633,211
Adjustments:        
LESS: Goodwill, net of associated deferred tax liabilities 285,158 296,105    
LESS: Certain other intangible assets 18,077 18,018    
LESS: Net deferred tax assets from operating loss and tax credit carry-forwards 5,733 15,624    
LESS: Net unrealized (losses) on available for sale securities (143,190) (152,328)    
LESS: Noncontrolling interest (591) (277)    
ADD: Adoption of Accounting Standards Update 2016-13 1,788 3,576    
Common Equity Tier 1 694,055 648,623    
Long-term borrowings and other instruments qualifying as Tier 1 13,661 13,661    
Tier 1 minority interest not included in common equity Tier 1 capital (307) (150)    
Total Tier 1 capital 707,409 662,134    
Allowance for credit losses 52,455 66,140    
Subordinated debentures, net of issuance costs 19,796 19,693    
Total capital $ 779,660 $ 747,967    
Common Equity Tier 1, risk-based (as a percent) 0.070      
Tier 1 risk-based (as a percent) 0.085      
Total risk based capital ratios with buffer (as a percent) 0.105      
Capital conservation buffer requirement 0.025      
v3.25.3
REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Revenue From Contracts with Customers by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Disaggregation of Revenue [Line Items]                              
Net interest income $ 127,951 $ 122,313 $ 136,279 $ 125,251 $ 127,514 $ 122,750 $ 128,634 $ 118,927 $ 114,158 $ 102,815 $ 105,673 $ 88,430 $ 511,794 $ 497,825 $ 411,076
(Loss) on sale of securities                         (25,084) 0 0
Gain on sale of divestitures                         15,044 0 0
Secondary market revenue                         37,022 5,920 412
Gain (loss) on sale of other                         5,151 6,749 2,251
Other income                         26,625 23,167  
Total noninterest income $ 58,756 $ 73,442 $ 138,524 $ 57,378 $ 52,010 $ 65,871 $ 128,945 $ 52,761 $ 56,051 $ 67,733 $ 127,038 $ 65,777 328,100 299,587 316,599
Revenue                         839,894 797,412  
Refund transfer fees                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         43,980 40,178 39,452
Refund advance and other tax fee income                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         48,705 43,473 37,433
Card and deposit fees                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         124,971 125,943  
Rental income                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         51,686 54,157 54,190
Consumer                              
Disaggregation of Revenue [Line Items]                              
Net interest income                         300,013 279,610 175,315
(Loss) on sale of securities                         0 0  
Gain on sale of divestitures                         0 0  
Secondary market revenue                         59 (5)  
Gain (loss) on sale of other                         0 0  
Other income                         10,335 8,512  
Total noninterest income                         227,248 217,107 233,544
Revenue                         527,261 496,717  
Consumer | Refund transfer fees                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         43,980 40,178  
Consumer | Refund advance and other tax fee income                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         48,705 43,473  
Consumer | Card and deposit fees                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         124,169 124,949  
Consumer | Rental income                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         0 0  
Commercial                              
Disaggregation of Revenue [Line Items]                              
Net interest income                         185,497 194,075  
(Loss) on sale of securities                         0 0  
Gain on sale of divestitures                         0 0  
Secondary market revenue                         23,634 5,925  
Gain (loss) on sale of other                         4,632 1,777  
Other income                         11,063 9,636  
Total noninterest income                         90,904 71,748  
Revenue                         276,401 265,823  
Commercial | Refund transfer fees                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         0 0  
Commercial | Refund advance and other tax fee income                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         0 0  
Commercial | Card and deposit fees                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         771 967  
Commercial | Rental income                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         50,804 53,443  
Corporate Services/Other                              
Disaggregation of Revenue [Line Items]                              
Net interest income                         26,284 24,140 38,306
(Loss) on sale of securities                         (25,084) 0  
Gain on sale of divestitures                         15,044 0  
Secondary market revenue                         13,329 0  
Gain (loss) on sale of other                         519 4,972  
Other income                         5,227 5,019  
Total noninterest income                         9,948 10,732 $ 17,004
Revenue                         36,232 34,872  
Corporate Services/Other | Refund transfer fees                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         0 0  
Corporate Services/Other | Refund advance and other tax fee income                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         0 0  
Corporate Services/Other | Card and deposit fees                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         31 27  
Corporate Services/Other | Rental income                              
Disaggregation of Revenue [Line Items]                              
Noninterest income:                         $ 882 $ 714  
v3.25.3
SEGMENT REPORTING (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Sep. 30, 2025
USD ($)
Jun. 30, 2025
USD ($)
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Sep. 30, 2024
USD ($)
Jun. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Sep. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Sep. 30, 2025
USD ($)
segment
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Segment Reporting Information [Line Items]                              
Number of reporting segments | segment                         3    
Segment data [Abstract]                              
Interest and dividend income $ 129,439 $ 123,592 $ 142,004 $ 128,357 $ 131,342 $ 125,833 $ 137,094 $ 124,789 $ 118,866 $ 104,696 $ 108,955 $ 89,433 $ 523,392 $ 519,058 $ 421,950
Interest expense 1,488 1,279 5,725 3,106 3,828 3,083 8,460 5,862 4,708 1,881 3,282 1,003 11,598 21,233 10,874
Net interest income 127,951 122,313 136,279 125,251 127,514 122,750 128,634 118,927 114,158 102,815 105,673 88,430 511,794 497,825 411,076
Provision for credit loss (6,431) 9,278 35,266 18,661 8,672 11,927 29,744 7,758 28,007 22,517 41,960 16,758 56,774 58,101 109,242
Net interest income after provision for credit loss                         455,020 439,724 301,834
Noninterest income 58,756 $ 73,442 $ 138,524 $ 57,378 52,010 $ 65,871 $ 128,945 $ 52,761 56,051 $ 67,733 $ 127,038 $ 65,777 328,100 299,587 316,599
Compensation and benefits                         200,495 201,472 184,318
Building and software                         42,094 36,587 34,691
Operating lease equipment depreciation                         45,636 41,757 45,710
Rate related card expenses                         104,081 110,757 77,355
Other card expenses                         34,362 27,181 28,143
Tax product expenses                         12,775 11,805 11,586
Loan expenses                         17,232 13,414 11,889
Legal and consulting                         36,469 24,857 27,102
SG & A intercompany allocations                         0 0 0
Consumer lending program expenses                         20,034 7,437 (1,588)
Other expense                         46,889 45,424 44,182
Total noninterest expense                         560,067 520,691 463,388
Income before income tax expense                         223,053 218,620 155,045
Total assets 7,172,344       7,532,017       7,503,401       7,172,344 7,532,017 7,503,401
Total goodwill 297,928       309,505       309,505       297,928 309,505 309,505
Total deposits 5,886,947       5,875,085       6,589,182       5,886,947 5,875,085 6,589,182
Consumer                              
Segment data [Abstract]                              
Interest and dividend income                         317,686 297,411 186,716
Interest expense                         17,673 17,801 11,401
Net interest income                         300,013 279,610 175,315
Provision for credit loss                         28,587 42,390 90,808
Net interest income after provision for credit loss                         271,426 237,220 84,507
Noninterest income                         227,248 217,107 233,544
Compensation and benefits                         29,764 30,067 24,783
Building and software                         9,384 8,259 7,962
Operating lease equipment depreciation                         0 0 0
Rate related card expenses                         104,081 110,757 77,355
Other card expenses                         34,321 27,140 28,141
Tax product expenses                         12,775 11,805 11,586
Loan expenses                         1,128 1,284 306
Legal and consulting                         2,404 3,130 2,297
SG & A intercompany allocations                         70,348 62,148 60,636
Consumer lending program expenses                         20,034 7,437 (1,588)
Other expense                         14,256 15,336 13,353
Total noninterest expense                         298,495 277,363 224,831
Income before income tax expense                         200,179 176,964 93,220
Total assets 484,988       417,843       445,813       484,988 417,843 445,813
Total goodwill 87,145       87,145       87,145       87,145 87,145 87,145
Total deposits 5,665,100       5,643,228       6,376,467       5,665,100 5,643,228 6,376,467
Commercial                              
Segment data [Abstract]                              
Interest and dividend income                         307,348 310,599 263,415
Interest expense                         121,851 116,524 65,960
Net interest income                         185,497 194,075 197,455
Provision for credit loss                         28,059 15,571 18,384
Net interest income after provision for credit loss                         157,438 178,504 179,071
Noninterest income                         90,904 71,748 66,051
Compensation and benefits                         48,419 60,263 56,397
Building and software                         9,320 11,725 11,545
Operating lease equipment depreciation                         45,636 41,757 45,710
Rate related card expenses                         0 0 0
Other card expenses                         0 0 0
Tax product expenses                         0 0 0
Loan expenses                         16,104 12,130 11,589
Legal and consulting                         4,003 6,025 7,140
SG & A intercompany allocations                         29,312 30,996 30,240
Consumer lending program expenses                         0 0 0
Other expense                         8,741 10,244 9,246
Total noninterest expense                         161,535 173,140 171,867
Income before income tax expense                         86,807 77,112 73,255
Total assets 4,345,546       4,440,662       4,183,624       4,345,546 4,440,662 4,183,624
Total goodwill 210,783       222,360       222,360       210,783 222,360 222,360
Total deposits 122       10,935       5,958       122 10,935 5,958
Corporate Services/Other                              
Segment data [Abstract]                              
Interest and dividend income                         (101,642) (88,952) (28,181)
Interest expense                         (127,926) (113,092) (66,487)
Net interest income                         26,284 24,140 38,306
Provision for credit loss                         128 140 50
Net interest income after provision for credit loss                         26,156 24,000 38,256
Noninterest income                         9,948 10,732 17,004
Compensation and benefits                         122,312 111,142 103,138
Building and software                         23,390 16,603 15,184
Operating lease equipment depreciation                         0 0 0
Rate related card expenses                         0 0 0
Other card expenses                         41 41 2
Tax product expenses                         0 0 0
Loan expenses                         0 0 (6)
Legal and consulting                         30,062 15,702 17,665
SG & A intercompany allocations                         (99,660) (93,144) (90,876)
Consumer lending program expenses                         0 0 0
Other expense                         23,892 19,844 21,583
Total noninterest expense                         100,037 70,188 66,690
Income before income tax expense                         (63,933) (35,456) (11,430)
Total assets 2,341,810       2,673,512       2,873,964       2,341,810 2,673,512 2,873,964
Total goodwill 0       0       0       0 0 0
Total deposits $ 221,725       $ 220,922       $ 206,757       $ 221,725 $ 220,922 $ 206,757
v3.25.3
PARENT COMPANY FINANCIAL STATEMENTS - Balance Sheet (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
ASSETS        
Cash and cash equivalents $ 120,568 $ 158,337    
Securities held to maturity, at amortized cost 29,308 33,092    
Other assets 329,879 266,362    
Total assets 7,172,344 7,532,017 $ 7,503,401  
LIABILITIES        
Long-term borrowings 33,456 33,354    
Other liabilities 385,487 424,389    
Total liabilities 6,314,890 6,709,828    
STOCKHOLDERS' EQUITY        
Additional paid-in capital 648,330 638,803    
Retained earnings 359,830 337,058    
Accumulated other comprehensive loss (145,461) (153,394)    
Treasury stock, at cost (4,882) (249)    
Total equity attributable to parent 858,045 822,466    
Noncontrolling interest (591) (277)    
Total stockholders’ equity 857,454 822,189 $ 618,347 $ 633,211
Total liabilities and stockholders’ equity 7,172,344 7,532,017    
Meta Financial        
ASSETS        
Cash and cash equivalents 1,445 1,898    
Securities held to maturity, at amortized cost 11,618 10,896    
Investment in subsidiaries 885,348 848,427    
Other assets 1,175 2,263    
Total assets 899,586 863,484    
LIABILITIES        
Long-term borrowings 33,456 33,354    
Other liabilities 8,676 7,941    
Total liabilities 42,132 41,295    
STOCKHOLDERS' EQUITY        
Common stock 228 248    
Additional paid-in capital 648,330 638,803    
Retained earnings 359,830 337,058    
Accumulated other comprehensive loss (145,461) (153,394)    
Treasury stock, at cost (4,882) (249)    
Total equity attributable to parent 858,045 822,466    
Noncontrolling interest (591) (277)    
Total stockholders’ equity 857,454 822,189    
Total liabilities and stockholders’ equity $ 899,586 $ 863,484    
v3.25.3
PARENT COMPANY FINANCIAL STATEMENTS - Income Statement (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
CONDENSED STATEMENTS OF OPERATIONS [Abstract]                              
Interest expense $ 1,488 $ 1,279 $ 5,725 $ 3,106 $ 3,828 $ 3,083 $ 8,460 $ 5,862 $ 4,708 $ 1,881 $ 3,282 $ 1,003 $ 11,598 $ 21,233 $ 10,874
Other expense                         74,784 59,132 46,239
Income tax benefit                         36,266 34,108 9,587
Other income                         26,625 23,167 22,115
Net income before noncontrolling interest                         186,787 184,512 145,458
Net income attributable to parent $ 38,801 $ 42,147 $ 74,957 $ 29,967 $ 33,533 $ 44,869 $ 69,918 $ 34,899 $ 25,277 $ 36,080 $ 54,119 $ 27,790 185,872 183,219 143,266
Meta Financial                              
CONDENSED STATEMENTS OF OPERATIONS [Abstract]                              
Interest expense                         2,562 2,667 2,538
Other expense                         1,579 3,297 1,409
Total expense                         4,141 5,964 3,947
Loss before income taxes and equity in undistributed net income of subsidiaries                         (4,141) (5,964) (3,947)
Income tax benefit                         (255) (1,147) (967)
Loss before equity in undistributed net income of subsidiaries                         (3,886) (4,817) (2,980)
Equity in undistributed net income of subsidiaries                         188,802 186,879 146,389
Other income                         956 1,157 (143)
Net income before noncontrolling interest                         189,758 188,036 146,246
Net income attributable to parent                         $ 185,872 $ 183,219 $ 143,266
v3.25.3
PARENT COMPANY FINANCIAL STATEMENTS - Cash Flow Statement (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:                              
Net income attributable to parent $ 38,801 $ 42,147 $ 74,957 $ 29,967 $ 33,533 $ 44,869 $ 69,918 $ 34,899 $ 25,277 $ 36,080 $ 54,119 $ 27,790 $ 185,872 $ 183,219 $ 143,266
Adjustments to reconcile net income to net cash provided by (used in) operating activities:                              
Depreciation, amortization and accretion, net                         59,725 57,765 64,955
Net change in accrued interest receivable                         (7,135) (8,103) (5,303)
Net change in other assets                         (79,568) (11,793) 17,244
Net change in accrued expenses and other liabilities                         (33,642) 176,044 48,776
Stock compensation                         9,507 10,286 11,070
Net cash provided by operating activities                         450,619 488,805 327,913
Cash flows from investing activities:                              
Net cash provided by (used in) investing activities                         25,843 (262,929) (945,560)
Cash flows from financing activities:                              
Dividends paid on common stock                         (4,686) (5,067) (5,426)
Issuance of common stock due to restricted stock                         0 3 1
Repurchases of common stock                         (163,047) (86,853) (120,437)
Net cash provided by (used in) financing activities                         (513,026) (443,200) 604,858
Net change in cash and cash equivalents                         (37,769) (217,243) (12,458)
Cash and cash equivalents at beginning of fiscal year       158,337       375,580       388,038 158,337 375,580 388,038
Cash and cash equivalents at end of fiscal period 120,568       158,337       375,580       120,568 158,337 375,580
Meta Financial                              
Cash flows from operating activities:                              
Net income attributable to parent                         185,872 183,219 143,266
Adjustments to reconcile net income to net cash provided by (used in) operating activities:                              
Depreciation, amortization and accretion, net                         102 102 102
Equity in undistributed net income of subsidiaries                         (188,802) (186,879) (146,389)
Net change in accrued interest receivable                         0 46 (30)
Net change in other assets                         1,088 (997) (354)
Net change in accrued expenses and other liabilities                         735 1,315 (1,793)
Cash dividend received                         159,500 87,000 110,000
Stock compensation                         9,507 10,287 11,070
Net cash provided by operating activities                         168,002 94,093 115,872
Cash flows from investing activities:                              
Alternative investments                         (722) (1,676) (1,217)
Net cash provided by (used in) investing activities                         (722) (1,676) (1,217)
Cash flows from financing activities:                              
Proceeds from long-term borrowings                         0 0 (511)
Dividends paid on common stock                         (4,686) (5,067) (5,426)
Issuance of common stock due to restricted stock                         0 2 1
Repurchases of common stock                         (163,047) (86,853) (120,437)
Net cash provided by (used in) financing activities                         (167,733) (91,918) (126,373)
Net change in cash and cash equivalents                         (453) 499 (11,718)
Cash and cash equivalents at beginning of fiscal year       $ 1,898       $ 1,399       $ 13,117 1,898 1,399 13,117
Cash and cash equivalents at end of fiscal period $ 1,445       $ 1,898       $ 1,399       $ 1,445 $ 1,898 $ 1,399
v3.25.3
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Quarterly Financial Information Disclosure [Abstract]                              
Interest and dividend income $ 129,439 $ 123,592 $ 142,004 $ 128,357 $ 131,342 $ 125,833 $ 137,094 $ 124,789 $ 118,866 $ 104,696 $ 108,955 $ 89,433 $ 523,392 $ 519,058 $ 421,950
Interest expense 1,488 1,279 5,725 3,106 3,828 3,083 8,460 5,862 4,708 1,881 3,282 1,003 11,598 21,233 10,874
Net interest income 127,951 122,313 136,279 125,251 127,514 122,750 128,634 118,927 114,158 102,815 105,673 88,430 511,794 497,825 411,076
Provision for credit loss (6,431) 9,278 35,266 18,661 8,672 11,927 29,744 7,758 28,007 22,517 41,960 16,758 56,774 58,101 109,242
Noninterest income 58,756 73,442 138,524 57,378 52,010 65,871 128,945 52,761 56,051 67,733 127,038 65,777 328,100 299,587 316,599
Net income attributable to parent $ 38,801 $ 42,147 $ 74,957 $ 29,967 $ 33,533 $ 44,869 $ 69,918 $ 34,899 $ 25,277 $ 36,080 $ 54,119 $ 27,790 $ 185,872 $ 183,219 $ 143,266
Earnings per common share                              
Basic (in dollars per share) $ 1.69 $ 1.83 $ 3.16 $ 1.23 $ 1.34 $ 1.78 $ 2.74 $ 1.34 $ 0.96 $ 1.35 $ 1.97 $ 0.98 $ 7.91 $ 7.21 $ 5.26
Diluted (in dollars per share) 1.69 1.81 3.14 1.23 1.34 1.78 2.74 1.34 0.96 1.34 1.96 0.98 7.87 7.20 5.24
Dividend declared per share (in dollars per share) $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.20 $ 0.20 $ 0.20
v3.25.3
FAIR VALUES OF FINANCIAL INSTRUMENTS- Narrative (Details) - USD ($)
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Transfers between levels of fair value hierarchy $ 0 $ 0
Minimum | Level 3 | Valuation, Market Approach | Measurement Input, Appraised Value    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Range of estimated selling cost (percentage) 3.00%  
Maximum | Level 3 | Valuation, Market Approach | Measurement Input, Appraised Value    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Range of estimated selling cost (percentage) 31.00%  
v3.25.3
FAIR VALUES OF FINANCIAL INSTRUMENTS - Assets Measured at Fair Value on Recurring (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
Debt securities AFS    
Fair Value $ 1,327,843 $ 1,741,221
SBA securities    
Debt securities AFS    
Fair Value 10,769 81,935
Obligations of states and political subdivisions    
Debt securities AFS    
Fair Value 162 480
Non-bank qualified obligations of states and political subdivisions    
Debt securities AFS    
Fair Value 187,040 217,990
Asset-backed securities    
Debt securities AFS    
Fair Value 136,372 189,698
Mortgage-backed securities    
Debt securities AFS    
Fair Value 972,250 1,231,368
Level 1    
Debt securities AFS    
Common equities and mutual funds 3,787 3,303
Level 2    
Debt securities AFS    
Common equities and mutual funds 0 0
Level 3    
Debt securities AFS    
Common equities and mutual funds 0 0
Recurring    
Debt securities AFS    
Fair Value 1,327,843 1,741,221
Common equities and mutual funds 3,787 3,303
Non-marketable equity securities 13,237 11,828
Recurring | Corporate securities    
Debt securities AFS    
Fair Value 21,250 19,750
Recurring | SBA securities    
Debt securities AFS    
Fair Value 10,769 81,935
Recurring | Obligations of states and political subdivisions    
Debt securities AFS    
Fair Value 162 480
Recurring | Non-bank qualified obligations of states and political subdivisions    
Debt securities AFS    
Fair Value 187,040 217,990
Recurring | Asset-backed securities    
Debt securities AFS    
Fair Value 136,372 189,698
Recurring | Mortgage-backed securities    
Debt securities AFS    
Fair Value 972,250 1,231,368
Recurring | Level 1    
Debt securities AFS    
Fair Value 0 0
Common equities and mutual funds 3,787 3,303
Non-marketable equity securities 0 0
Recurring | Level 1 | Corporate securities    
Debt securities AFS    
Fair Value 0 0
Recurring | Level 1 | SBA securities    
Debt securities AFS    
Fair Value 0 0
Recurring | Level 1 | Obligations of states and political subdivisions    
Debt securities AFS    
Fair Value 0 0
Recurring | Level 1 | Non-bank qualified obligations of states and political subdivisions    
Debt securities AFS    
Fair Value 0 0
Recurring | Level 1 | Asset-backed securities    
Debt securities AFS    
Fair Value 0 0
Recurring | Level 1 | Mortgage-backed securities    
Debt securities AFS    
Fair Value 0 0
Recurring | Level 2    
Debt securities AFS    
Fair Value 1,327,843 1,741,221
Common equities and mutual funds 0 0
Non-marketable equity securities 0 0
Recurring | Level 2 | Corporate securities    
Debt securities AFS    
Fair Value 21,250 19,750
Recurring | Level 2 | SBA securities    
Debt securities AFS    
Fair Value 10,769 81,935
Recurring | Level 2 | Obligations of states and political subdivisions    
Debt securities AFS    
Fair Value 162 480
Recurring | Level 2 | Non-bank qualified obligations of states and political subdivisions    
Debt securities AFS    
Fair Value 187,040 217,990
Recurring | Level 2 | Asset-backed securities    
Debt securities AFS    
Fair Value 136,372 189,698
Recurring | Level 2 | Mortgage-backed securities    
Debt securities AFS    
Fair Value 972,250 1,231,368
Recurring | Level 3    
Debt securities AFS    
Fair Value 0 0
Common equities and mutual funds 0 0
Non-marketable equity securities 0 0
Recurring | Level 3 | Corporate securities    
Debt securities AFS    
Fair Value 0 0
Recurring | Level 3 | SBA securities    
Debt securities AFS    
Fair Value 0 0
Recurring | Level 3 | Obligations of states and political subdivisions    
Debt securities AFS    
Fair Value 0 0
Recurring | Level 3 | Non-bank qualified obligations of states and political subdivisions    
Debt securities AFS    
Fair Value 0 0
Recurring | Level 3 | Asset-backed securities    
Debt securities AFS    
Fair Value 0 0
Recurring | Level 3 | Mortgage-backed securities    
Debt securities AFS    
Fair Value $ 0 $ 0
v3.25.3
FAIR VALUES OF FINANCIAL INSTRUMENTS - Quantitative Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
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 4,599,269 4,036,490
Level 3 | Valuation, Market Approach    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value $ 32,321 7,652
Level 3 | Valuation, Market Approach | Minimum | Measurement Input, Appraised Value    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Range of estimated selling cost (percentage) 3.00%  
Level 3 | Valuation, Market Approach | Maximum | Measurement Input, Appraised Value    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Range of estimated selling cost (percentage) 31.00%  
Nonrecurring    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value $ 32,321 7,652
Nonrecurring | Commercial finance    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 32,321 7,652
Nonrecurring | Level 1    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Level 1 | Commercial finance    
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 2 | Commercial finance    
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 32,321 7,652
Nonrecurring | Level 3 | Commercial finance    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value $ 32,321 $ 7,652
v3.25.3
FAIR VALUES OF FINANCIAL INSTRUMENTS - Balance Sheet Grouping (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Sep. 30, 2024
Financial assets    
Debt securities held to maturity $ 25,653 $ 30,236
Level 1    
Financial assets    
Cash and cash equivalents 120,568 158,337
Debt securities available for sale 0 0
Debt securities held to maturity 0 0
Common equities and mutual funds 3,787 3,303
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 38,520 31,385
Financial liabilities    
Deposits 5,884,311 5,845,879
Overnight federal funds purchased 9,000 377,000
Other short- and long-term borrowings 0 0
Accrued interest payable 188 571
Level 2    
Financial assets    
Cash and cash equivalents 0 0
Debt securities available for sale 1,327,843 1,741,221
Debt securities held to maturity 25,653 30,236
Common equities and mutual funds 0 0
Non-marketable equity securities 6,699 9,522
Loans held for sale 179,421 691,688
Loans and leases 0 0
Federal Reserve Bank and Federal Home Loan Bank stocks 24,708 36,014
Accrued interest receivable 0 0
Financial liabilities    
Deposits 2,604 29,115
Overnight federal funds purchased 0 0
Other short- and long-term borrowings 33,667 31,787
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 4,599,269 4,036,490
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 120,568 158,337
Debt securities available for sale 1,327,843 1,741,221
Debt securities held to maturity 29,308 33,092
Common equities and mutual funds 3,787 3,303
Non-marketable equity securities 19,937 21,350
Loans held for sale 179,421 691,688
Loans and leases 4,665,006 4,071,071
Federal Reserve Bank and Federal Home Loan Bank stocks 24,708 36,014
Accrued interest receivable 38,520 31,385
Financial liabilities    
Deposits 5,886,947 5,875,085
Overnight federal funds purchased 9,000 377,000
Other short- and long-term borrowings 33,456 33,354
Accrued interest payable 188 571
Estimated Fair Value    
Financial assets    
Cash and cash equivalents 120,568 158,337
Debt securities available for sale 1,327,843 1,741,221
Debt securities held to maturity 25,653 30,236
Common equities and mutual funds 3,787 3,303
Non-marketable equity securities 19,937 21,350
Loans held for sale 179,421 691,688
Loans and leases 4,599,269 4,036,490
Federal Reserve Bank and Federal Home Loan Bank stocks 24,708 36,014
Accrued interest receivable 38,520 31,385
Financial liabilities    
Deposits 5,886,914 5,874,994
Overnight federal funds purchased 9,000 377,000
Other short- and long-term borrowings 33,667 31,787
Accrued interest payable $ 188 $ 571
v3.25.3
SUBSEQUENT EVENTS (Details) - USD ($)
$ in Millions
 12 Months Ended
Oct. 03, 2025
Sep. 30, 2025
Sep. 30, 2024
Subsequent Event [Line Items]      
Sale loans   $ 2,910.0 $ 2,040.0
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Consumer Finance Loan Portfolio | Subsequent Event      
Subsequent Event [Line Items]      
Sale loans $ 115.1