META FINANCIAL GROUP INC, 10-Q filed on 2/7/2019
Quarterly Report
v3.10.0.1
Document and Entity Information - shares
 3 Months Ended
Dec. 31, 2018
Feb. 01, 2019
Document Information [Line Items]    
Entity Registrant Name META FINANCIAL GROUP INC  
Entity Central Index Key 0000907471  
Current Fiscal Year End Date --09-30  
Entity Emerging Growth Company false  
Entity Small Business false  
Entity Filer Category Large Accelerated Filer  
Document Fiscal Year Focus 2019  
Document Fiscal Period Focus Q1  
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Dec. 31, 2018  
Common Stock [Member]    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   39,419,991
Common Stock, Nonvoting [Member]    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   0
v3.10.0.1
Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($)
$ in Thousands
Dec. 31, 2018
Sep. 30, 2018
ASSETS    
Cash and cash equivalents $ 164,169 $ 99,977
Investment securities available for sale, at fair value 1,340,870 1,484,160
Mortgage-backed securities available for sale, at fair value 354,186 364,065
Investment securities held to maturity, at cost 153,075 163,893
Mortgage-backed securities held to maturity, at cost 7,661 7,850
Loans held for sale 33,560 15,606
Loans and leases 3,329,498 2,944,739
Allowance for loan and lease losses (21,290) (13,040)
Federal Home Loan Bank Stock, at cost 15,600 23,400
Accrued interest receivable 22,076 22,016
Premises, furniture, and equipment, net 44,299 40,458
Rental equipment, net 146,815 107,290
Bank-owned life insurance 87,934 87,293
Foreclosed real estate and repossessed assets 31,548 31,638
Goodwill 303,270 303,270
Intangible assets 66,366 70,719
Prepaid assets 31,483 27,906
Deferred taxes 23,607 18,737
Other assets 48,038 35,090
Total assets 6,182,765 5,835,067
LIABILITIES    
Noninterest-bearing checking 2,739,757 2,405,274
Interest-bearing checking 128,662 111,587
Savings deposits 52,229 54,765
Money market deposits 54,559 51,995
Time certificates of deposit 170,629 276,180
Wholesale deposits 1,790,611 1,531,186
Total deposits 4,936,447 4,430,987
Short-term debt 231,293 425,759
Long-term debt 88,983 88,963
Accrued interest payable 11,280 7,794
Accrued expenses and other liabilities 144,034 133,838
Total liabilities 5,412,037 5,087,341
STOCKHOLDERS’ EQUITY    
Preferred stock, 3,000,000 shares authorized, no shares issued or outstanding at December 31, 2018 and September 30, 2018, respectively 0 0
Common stock 394 393
Additional paid-in capital 572,156 565,811
Retained earnings 228,453 213,048
Accumulated other comprehensive loss (29,186) (33,111)
Treasury stock, at cost, 89,411 and 24,783 common shares at December 31, 2018 and September 30, 2018, respectively (4,356) (1,989)
Total equity attributable to parent 767,461 744,152
Noncontrolling interest 3,267 3,574
Total stockholders’ equity 770,728 747,726
Total liabilities and stockholders’ equity 6,182,765 5,835,067
Common stock, Nonvoting, $.01 par value; 3,000,000 shares authorized, no shares issued or outstanding at June 30, 2018 and September 30, 2017, respectively [Member]    
STOCKHOLDERS’ EQUITY    
Common stock $ 0 $ 0
v3.10.0.1
Condensed Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - $ / shares
Dec. 31, 2018
Sep. 30, 2018
STOCKHOLDERS’ EQUITY    
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
Common Stock [Member]    
STOCKHOLDERS’ EQUITY    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 30,000,000 15,000,000
Common stock, shares issued (in shares) 9,720,536 9,626,431
Common stock, shares outstanding (in shares) 9,699,591 9,622,595
Common Stock, Nonvoting [Member]    
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
Treasury stock (in shares) 20,945 3,836
v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Interest and dividend income:    
Loans and leases, including fees $ 60,498 $ 16,443
Mortgage-backed securities 2,698 3,758
Other investments 11,780 10,656
Total interest and dividend income 74,976 30,857
Interest expense:    
Deposits 10,596 1,885
FHLB advances and other borrowings 4,108 2,776
Total interest expense 14,704 4,661
Net interest income 60,272 26,196
Provision for loan and lease losses 9,099 1,068
Net interest income after provision for loan and lease losses 51,173 25,128
Noninterest income:    
Bank-owned life insurance 642 669
Loss on sale of securities available-for-sale, net (Includes ($22) and ($1,010) reclassified from accumulated other comprehensive income (loss) for net gains (losses) on available for sale securities for the three months ended December 31, 2018 and 2017, respectively) (22) (1,010)
Gain on sale of loans and leases 867 0
Gain (loss) on foreclosed real estate 15 (19)
Other income 877 102
Total noninterest income 37,751 29,268
Noninterest expense:    
Compensation and benefits 33,010 22,340
Refund transfer product expense 10 101
Tax advance product expense 452 280
Card processing 7,085 6,540
Occupancy and equipment 6,458 4,890
Operating lease equipment depreciation 7,765 0
Legal and consulting 3,969 2,416
Marketing 539 553
Data processing 437 414
Intangible amortization 4,383 1,681
Other expense 10,187 4,827
Total noninterest expense 74,295 44,042
Income before income tax expense 14,629 10,354
Income tax (benefit) expense (Includes ($5) and ($380) reclassified from accumulated other comprehensive loss for the three months ended December 31, 2018 and 2017, respectively) (1,691) 5,684
Net income before noncontrolling interest 16,320 4,670
Net income attributable to noncontrolling interest 922 0
Net income attributable to parent $ 15,398 $ 4,670
Earnings per common share    
Basic (in dollars per share) [1] $ 0.39 $ 0.16
Diluted (in dollars per share) [1] $ 0.39 $ 0.16
Refund transfer product fees    
Noninterest income:    
Revenue from contract with customer $ 261 $ 192
Tax advance product fees    
Noninterest income:    
Revenue from contract with customer 1,685 1,947
Card fees    
Noninterest income:    
Revenue from contract with customer 19,351 25,247
Rental Income [Member]    
Noninterest income:    
Revenue from contract with customer 10,890 0
Total noninterest income 10,890 0
Loan and lease fees    
Noninterest income:    
Revenue from contract with customer 1,247 1,292
Deposit fees    
Noninterest income:    
Revenue from contract with customer $ 1,938 $ 848
[1] All share and per share data has been adjusted to reflect the 3-for-1 forward stock split effected by the Company on October 4, 2018.
v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Noninterest income:    
Net gain (losses) on available for sale securities reclassified from accumulated other comprehensive income (loss) $ (22) $ (1,010)
Income tax expense (benefit) reclassified from accumulated other comprehensive income (loss) $ (5) $ (380)
v3.10.0.1
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Statement of Comprehensive Income [Abstract]    
Net income before noncontrolling interest $ 16,320 $ 4,670
Other comprehensive (loss) income:    
Change in net unrealized gain (loss) on debt securities 6,171 (7,480)
(Gains) losses realized in net income 22 1,010
Total 6,193 (6,470)
Unrealized gains (loss) on currency translation 1,433 (3,086)
Deferred income tax effect (360) 0
Total other comprehensive (loss) income 4,400 (3,384)
Total comprehensive income 20,720 1,286
Total comprehensive income attributable to noncontrolling interest 922 0
Comprehensive income attributable to parent $ 19,798 $ 1,286
v3.10.0.1
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)
$ in Thousands
Total
Parent [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Treasury Stock [Member]
Noncontrolling Interest [Member]
Beginning Balance at Sep. 30, 2017 $ 434,496 $ 434,496 $ 288 $ 258,144 $ 167,164 $ 9,166 $ (266) $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Cash dividends declared on common stock (1,256) (1,256)     (1,256)      
Issuance of common shares due to ESOP 1,606 1,606 1 1,605        
Issuance of common shares due to exercise of stock options 1 1 1          
Shares repurchased for tax withholdings on stock compensation (1,671) (1,671)   (314)     (1,357)  
Stock compensation 3,243 3,243   3,243        
Total other comprehensive income (3,384) (3,384)       (3,384)    
Net income 4,670 4,670     4,670      
Ending Balance at Dec. 31, 2017 437,705 437,705 290 262,678 170,578 5,782 (1,623) 0
Retained earnings 213,048              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Cumulative Effect of New Accounting Principle in Period of Adoption | Accounting Standards Update 2016-01 [Member]         475 (475)    
Beginning Balance at Sep. 30, 2018 747,726 744,152 393 565,811 213,048 (33,111) (1,989) 3,574
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Cash dividends declared on common stock (1,970) (1,970)     (1,970)      
Issuance of common shares due to exercise of stock options 54 54   54        
Issuance of common shares due to restricted stock 2 2 2          
Issuance of common shares due to ESOP 2,010 2,010   2,010        
Shares repurchased for tax withholdings on stock compensation (2,367) (2,367) (1) 1     (2,367) 0
Stock compensation 4,280 4,280   4,280        
Total other comprehensive income 4,400 4,400       4,400    
Net income 16,320 15,398     15,398     922
Net investment by (distribution to) noncontrolling interests (1,229)             (1,229)
Ending Balance at Dec. 31, 2018 770,728 $ 767,461 $ 394 $ 572,156 $ 228,453 $ (29,186) $ (4,356) $ 3,267
Retained earnings $ 228,453              
v3.10.0.1
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares
 3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]    
Cash dividends declared on common stock (in dollars per share) [1] $ 0.39 $ 0.39
[1] All share and per share data has been adjusted to reflect the 3-for-1 forward stock split effected by the Company on October 4, 2018.
v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:    
Net income $ 16,320 $ 4,670
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation, amortization and accretion, net 14,616 9,561
Stock compensation 4,280 3,243
Provision (recovery):    
Loan and lease losses 9,099 1,068
Deferred taxes (6,787) 6,807
Loans held for sale:    
Originations (7,469) 0
Proceeds from sales 22,611 0
Net change 6,571 0
Fair value adjustment of foreclosed real estate 0 23
Net realized (gain) loss:    
Other assets 24 8
Foreclosed real estate or other assets (15) 19
Available for sale securities, net 22 1,010
Loans held for sale (550) 0
Leases receivable and rental equipment (677) 0
Net change:    
Other assets (18,004) (1,102)
Accrued interest payable 3,486 1,785
Accrued expenses and other liabilities 9,454 (14,462)
Accrued interest receivable (60) (1,709)
Change in bank-owned life insurance value (641) (669)
Net cash provided by operating activities 52,232 10,236
Available for sale securities:    
Purchases (51,430) (105,327)
Proceeds from sales 171,927 65,941
Proceeds from maturities and principal repayments 34,557 35,065
Held to maturity:    
Proceeds from maturities and principal repayments 10,423 12,021
Loans and leases:    
Purchases (122,668) (75,163)
Proceeds from Sales 378 5,916
Net change (299,400) (114,827)
Proceeds from sales of foreclosed real estate or other assets 105 122
Federal Home Loan Bank stock:    
Purchases (235,000) (249,920)
Redemption 242,800 253,600
Rental Equipment:    
Purchases (46,153) 0
Proceeds from Sales 1,466 0
Net change (611)  
Premises and equipment:    
Purchases (5,729) (2,593)
Proceeds from Sales 19 0
Net cash (used in) investing activities (299,316) (175,165)
Cash flows from financing activities:    
Checking, savings, and money market deposits 353,642 341,407
Time deposits (105,632) 4,583
Wholesale deposits 259,430 (55,769)
FHLB and other borrowings 0 (205,000)
Federal funds (195,000) 113,000
Securities sold under agreements to repurchase 532 867
Net investment by (distribution to) noncontrolling interests (1,229) 0
Other liabilities (2,847) 0
Capital lease obligations (16) (16)
Cash dividends paid (1,970) (1,256)
Purchase of shares by ESOP 2,010 1,606
Issuance of restricted stock 2 1
Proceeds from exercise of stock options & issuance of common stock 54 0
Shares repurchased for tax withholdings on stock compensation (2,367) (1,671)
Net cash provided by financing activities 311,636 197,752
Effect of exchange rate changes on cash (360) 0
Net change in cash and cash equivalents 64,192 32,823
Cash and cash equivalents at beginning of year 99,977 1,267,586
Cash and cash equivalents at end of year 164,169 1,300,409
Supplemental disclosure of cash flow information    
Interest 18,190 6,446
Income taxes 595 218
Franchise taxes 0 31
Other taxes 49 1
Supplemental schedule of non-cash investing activities:    
Loans transferred to held for sale (39,452) 0
Securities transferred from held-to-maturity to available-for-sale $ 0 $ (306,000)
v3.10.0.1
BASIS OF PRESENTATION
 3 Months Ended
Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS OF PRESENTATION
BASIS OF PRESENTATION

The interim unaudited Condensed Consolidated Financial Statements contained herein should be read in conjunction with the audited consolidated financial statements and accompanying notes to the consolidated financial statements for the fiscal year ended September 30, 2018 included in Meta Financial Group, Inc.’s (“Meta” or the “Company”) Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on November 29, 2018.  Accordingly, footnote disclosures which would substantially duplicate the disclosures contained in the audited consolidated financial statements have been omitted.

The financial information of the Company included herein has been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial reporting and has been prepared pursuant to the rules and regulations for reporting on Form 10-Q and Rule 10-01 of Regulation S-X.  Such information reflects all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the financial position and results of operations for the periods presented. The results of the three month period ended December 31, 2018 are not necessarily indicative of the results expected for the fiscal year ending September 30, 2019.

All share and per share data reported in this Form 10-Q has been adjusted to reflect the 3-for-1 forward stock split of the Company's common stock effected by the Company on October 4, 2018.

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

Certain amounts in the Recorded Investment table presented in Note 4 to the consolidated financial statements have been restated from what was previously reported as of September 30, 2018 on Form 10-K.

Loan and lease tables have been conformed to be consistent with the Company's updated presentation of its lending portfolio. The new presentation includes expanding the commercial and consumer finance portfolio to present the lending categories that are included in each, presenting the warehouse finance portfolio as its own category, and condensing the community bank loan categories. Warehouse finance loans were previously included in the consumer finance portfolio. All current and prior period numbers are reflective of this new presentation and total loan and lease balances remained unchanged.
v3.10.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES ("ASU")
 3 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES (ASU)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES ("ASU")

Significant accounting policies in effect and disclosed within the Company’s most recent audited consolidated financial statements as of September 30, 2018 remain substantially unchanged with the exception of the policies impacted by the adoption of noted ASUs below.

Revenue Recognition - Effective October 1, 2018, the Company adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606), subsequent related Updates (collectively, ASU 2014-09), and ASU 2016-04, Liabilities - Extinguishments of Liabilities (Subtopic 405-20): Recognition of Breakage of Certain Prepaid Stored-Value Products. ASU 2014-09 modifies the guidance used to recognize revenue from contracts with customers for transfers of goods or services and transfers of non-financial assets, unless those contracts are within the scope of other guidance. Upon adoption, the Company recorded a cumulative-effect adjustment that increased retained earnings by $1.5 million, net of tax, due to changes in the timing of recognition of revenue from breakage on unregistered, unused prepaid cards in the Company’s Meta Payment Systems ("MPS") division. Breakage represents the estimated amount that will not be redeemed by the cardholder for goods or services. Previously, the Company recognized breakage revenue predominantly after the month of the card balance expiration. Upon adoption of ASU 2014-09, this revenue is recognized ratably over the life of the prepaid card. Recognition of all other revenue streams was substantially unchanged. The impact of adoption was immaterial to the Company’s operations for the three months ended December 31, 2018. Refer to Note 10. Revenue from Contracts with Customers for additional information.

Financial Instruments - Effective October 1, 2018, the Company adopted ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities, and related Updates (collectively, ASU 2016-01). ASU 2016-01 makes revisions to several elements of Subtopic 825-10, including that ASU 2016-01: (1) requires equity investments to be measured at fair value with changes in fair value to be recognized in net income, (2) simplifies the impairment assessment of equity investments without readily determinable fair value, (3) eliminates the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value of financial instruments measured at amortized cost on the consolidated statement of financial condition, (4) requires public business entities to use the exit price notion when measuring fair value of financial instruments for disclosure purposes, and (5) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or accompanying notes. Upon adoption, the Company recorded a cumulative-effect adjustment that reclassed $0.5 million, net of tax, from accumulated other comprehensive income to retained earnings, due to the Company's cumulative change in fair value of equity securities with readily determinable fair values previously recognized in accumulated other comprehensive income. The impact of adoption was immaterial to the Company’s operations for the three months ended December 31, 2018. Refer to Note 5. Securities for additional information.

The Company also adopted each of the following ASUs effective October 1, 2018, none of which had a material impact on the Company’s consolidated financial statements.
–
ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments
–
ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash
–
ASU 2017-01, Clarifying the Definition of a Business
–
ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
–
ASU 2017-05, Other Income - Gains and Losses from the Derecognition of Non-Financial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Non-Financial Assets
–
ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployees Share-Based Payment Accounting

Refer to the Company’s most recently audited consolidated financial statements for the fiscal year ended September 30, 2018 for additional information on these ASUs and for the latest update on ASUs relevant to the Company and not yet adopted as of December 31, 2018.
v3.10.0.1
ACQUISITIONS
 3 Months Ended
Dec. 31, 2018
Business Combinations [Abstract]  
ACQUISITIONS
ACQUISITIONS

The Company completed the acquisition of Crestmark Bancorp, Inc. ("Crestmark") and its bank subsidiary, Crestmark Bank, on August 1, 2018 for a purchase price of $295.8 million paid by issuance of 9,919,512 shares of Meta common stock. The transaction included, at fair value, total assets of $1.32 billion, including $1.05 billion of loan and lease receivables held for investment, and $1.12 billion of deposits. The Company recorded provisional goodwill of $204.5 million associated with the acquisition due to expected operational synergies and expanded product lines. There has been no adjustment to or impairment recognized to goodwill during the three months ended December 31, 2018. Refer to the Company’s most recent audited financial statements as of September 30, 2018 included in the Company's Annual Report on Form 10-K for its fiscal year ended September 30, 2018 for additional information on the Crestmark acquisition. There were no business combinations pending as of December 31, 2018.
v3.10.0.1
LOANS AND LEASES, NET
 3 Months Ended
Dec. 31, 2018
Loans and Leases Receivable Disclosure [Abstract]  
LOANS AND LEASES, NET
LOANS AND LEASES, NET
Loan and lease tables have been conformed to be consistent with the Company's updated categorization of its lending portfolio between National Lending and Community Banking.
Loans and leases at December 31, 2018 and September 30, 2018 were as follows:
(Dollars in Thousands)
December 31, 2018
 
September 30, 2018
National Lending
 
 
 
Asset based lending
$
554,072

 
$
477,917

Factoring
284,912

 
284,221

Lease financing
290,889

 
265,315

Insurance premium finance
330,712

 
337,877

SBA/USDA
67,893

 
59,374

Other commercial finance
89,402

 
85,145

Commercial finance
1,617,880

 
1,509,849

Consumer credit products
96,144

 
80,605

Other consumer finance
182,510

 
189,756

Consumer finance(1)
278,654

 
270,361

Tax services
76,575

 
1,073

Warehouse finance(1)
176,134

 
65,000

Total National Lending
2,149,243

 
1,846,283

Community Banking
 
 
 
Commercial real estate and operating
863,753

 
790,890

Consumer one-to-four family real estate and other
256,341

 
247,318

Agricultural real estate and operating
58,971

 
60,498

Total Community Banking
1,179,065

 
1,098,706

Total gross loans and leases
3,328,308

 
2,944,989

 
 
 
 
Allowance for loan and lease losses
(21,290
)
 
(13,040
)
Net deferred loan origination fees (costs)
1,190

 
(250
)
Total loans and leases, net(2)
$
3,308,208

 
$
2,931,699


(1) Warehouse finance loans are presented in their own line. Previously these balances were included with consumer finance loans. Prior period balances have also been adjusted to reflect this change.
(2) As of December 31, 2018, the remaining balance of acquired loans and leases from the Crestmark acquisition was $889.0 million and the remaining balances of the credit and interest rate mark discounts related to the acquired loans and leases were $10.1 million and $4.8 million, respectively. On August 1, 2018, the Company acquired loans and leases from the Crestmark acquisition totaling $1.06 billion and recorded related credit and interest rate mark discounts of $12.3 million and $6.0 million, respectively.

During the three months ended December 31, 2018, the Company transferred $39.5 million of consumer credit product loans to held for sale and originated $7.5 million of SBA/USDA loans as held for sale. The Company sold held for sale loans resulting in proceeds of $22.6 million and gains on sale of $0.6 million during the three months ended December 31, 2018. During the three months ended December 31, 2017, the Company did not designate any loans as held for sale or sell any held for sale loans.

During the three months ended December 31, 2018 and December 31, 2017, the Company purchased loans totaling $122.7 million and $75.2 million, respectively. During the three months ended December 31, 2018 and December 31, 2017, the Company sold loans totaling $0.4 million and $5.9 million, respectively.

The net investment in direct financing and sales-type leases is comprised of the following as of December 31, 2018 and September 30, 2018.
 
December 31, 2018
 
September 30, 2018
 
(Dollars in Thousands)
Minimum lease payments receivable
$
330,273

 
$
301,835

Estimated residual value of leased equipment
12,460

 
12,406

Unamortized initial direct costs
(9
)
 
(3
)
Premium on acquired leases
16

 
26

Unearned income
(51,851
)
 
(48,949
)
Net investment in direct financing and sales-type leases
$
290,889

 
$
265,315


Future minimum lease payments receivable on noncancelable direct financing and sales-type leases were as follows as of December 31, 2018.
 
As of December 31, 2018
 
(Dollars in thousands)
2019
$
92,158

2020
96,326

2021
73,057

2022
43,861

2023
21,037

2024 and thereafter
3,834

Total
$
330,273


The Company did not record any contingent rental income from sales-type and direct financing leases in the three months ended December 31, 2018.

Activity in the allowance for loan and lease losses and balances of loans and leases by portfolio segment for each of the three months ended December 31, 2018 and 2017 was as follows:
Allowance for loan and lease losses:
Beginning balance
 
Provision (recovery) for loan and lease losses
 
Charge-offs
 
Recoveries
 
Ending balance
Three Months Ended December 31, 2018
 
 
 
 
 
 
 
 
 
National Lending
 
 
 
 
 
 
 
 
 
Asset based lending
$
107

 
$
2,164

 
$
(262
)
 
$
56

 
$
2,065

Factoring
64

 
1,223

 
(250
)
 
26

 
1,062

Lease financing
59

 
(130
)
 
(418
)
 
1,572

 
1,084

Insurance premium finance
1,031

 
93

 
(208
)
 
56

 
972

SBA/USDA
13

 
240

 
—

 
—

 
253

Other commercial finance
28

 
263

 
—

 
—

 
291

Commercial finance
1,302

 
3,853

 
(1,138
)
 
1,710

 
5,727

Consumer credit products
785

 
366

 
—

 
—

 
1,151

Other consumer finance
2,820

 
3,023

 
(1,624
)
 
3

 
4,222

Consumer finance
3,605

 
3,389

 
(1,624
)
 
3

 
5,373

Tax services
—

 
1,496

 
(42
)
 
92

 
1,546

Warehouse finance
65

 
111

 
—

 
—

 
176

Total National Lending
4,972

 
8,849

 
(2,804
)
 
1,805

 
12,822

Community Banking
 
 
 
 
(2,804
)
 
 
 
 
Commercial real estate and operating
6,220

 
350

 
—

 
—

 
6,570

Consumer one-to-four family real estate and other
632

 
87

 
—

 
—

 
719

Agricultural real estate and operating
1,216

 
(187
)
 
—

 
150

 
1,179

Total Community Banking
8,068

 
250

 
—

 
150

 
8,468

Total
$
13,040

 
$
9,099

 
$
(2,804
)
 
$
1,955

 
$
21,290


Allowance for loan and lease losses:
Beginning balance
 
Provision (recovery) for loan and lease losses
 
Charge-offs
 
Recoveries
 
Ending balance
Three Months Ended December 31, 2017
(Dollars in Thousands)
National Lending
 
 
 
 
 
 
 
 
 
Insurance premium finance
$
796

 
$
51

 
$
(129
)
 
$
7

 
$
725

Other commercial finance
4

 
—

 
—

 
—

 
4

Commercial finance
800

 
51

 
(129
)
 
7

 
729

Tax services
5

 
1,017

 
—

 
413

 
1,435

Total National Lending
805

 
1,068

 
(129
)
 
420

 
2,164

Community Banking
 
 
 
 
 
 
 
 
 
Commercial real estate and operating
2,820

 
329

 
—

 
—

 
3,149

Consumer one-to-four family real estate and other
809

 
(113
)
 
(31
)
 
—

 
665

Agricultural real estate and operating
2,574

 
(590
)
 
—

 
—

 
1,984

Unallocated
526

 
374

 
—

 
—

 
900

Total Community Banking
6,729

 
—

 
(31
)
 
—

 
6,698

Total
$
7,534

 
$
1,068

 
$
(160
)
 
$
420

 
$
8,862



 
Allowance
 
Loans and Leases
Recorded Investment
Ending balance: individually evaluated for impairment
 
Ending balance: collectively evaluated for impairment
 
Total
 
Ending balance: individually evaluated for impairment
 
Ending balance: collectively evaluated for impairment
 
Total
As of December 31, 2018
(Dollars in Thousands)
National Lending
 
 
 
 
 
 
 
 
 
 
 
Asset based lending
$
—

 
$
2,065

 
$
2,065

 
$
2,371

 
$
551,701

 
$
554,072

Factoring
134

 
928

 
1,062

 
1,680

 
283,232

 
284,912

Lease financing
—

 
1,084

 
1,084

 
5,000

 
285,889

 
290,889

Insurance premium finance
—

 
972

 
972

 
—

 
330,712

 
330,712

SBA/USDA
—

 
253

 
253

 
—

 
67,893

 
67,893

Other commercial finance
—

 
291

 
291

 
—

 
89,402

 
89,402

Commercial finance
134

 
5,593

 
5,727

 
9,051

 
1,608,829

 
1,617,880

Consumer credit products
—

 
1,151

 
1,151

 
—

 
96,144

 
96,144

Other consumer finance
—

 
4,222

 
4,222

 
—

 
182,510

 
182,510

Consumer finance
—

 
5,373

 
5,373

 
—

 
278,654

 
278,654

Tax services
—

 
1,546

 
1,546

 
—

 
76,575

 
76,575

Warehouse finance
—

 
176

 
176

 
—

 
176,134

 
176,134

Total National Lending
134

 
12,688

 
12,822

 
9,051

 
2,140,192

 
2,149,243

Community Banking
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate and operating
—

 
6,570

 
6,570

 
402

 
863,351

 
863,753

Consumer one-to-four family real estate and other
—

 
719

 
719

 
138

 
256,203

 
256,341

Agricultural real estate and operating
—

 
1,179

 
1,179

 
1,511

 
57,460

 
58,971

Total Community Banking
—

 
8,468

 
8,468

 
2,051

 
1,177,014

 
1,179,065

Total
$
134

 
$
21,156

 
$
21,290

 
$
11,102

 
$
3,317,206

 
$
3,328,308


 
Allowance
 
Loans and Leases
Recorded Investment
Ending balance: individually evaluated for impairment(1)
 
Ending balance: collectively evaluated for impairment(1)
 
Total
 
Ending balance: individually evaluated for impairment
 
Ending balance: collectively evaluated for impairment
 
Total
As of September 30, 2018
(Dollars in Thousands)
National Lending
 
 
 
 
 
 
 
 
 
 
 
Asset based lending
$
—

 
$
107

 
$
107

 
$
1,404

 
$
476,513

 
$
477,917

Factoring
—

 
64

 
64

 
3,331

 
280,890

 
284,221

Lease financing
—

 
59

 
59

 
8,877

 
256,438

 
265,315

Insurance premium finance
—

 
1,031

 
1,031

 
—

 
337,877

 
337,877

SBA/USDA
—

 
13

 
13

 
—

 
59,374

 
59,374

Other commercial finance
—

 
28

 
28

 
—

 
85,145

 
85,145

Commercial finance
—

 
1,302

 
1,302

 
13,612

 
1,496,237

 
1,509,849

Consumer credit products
—

 
785

 
785

 
—

 
80,605

 
80,605

Other consumer finance
—

 
2,820

 
2,820

 
—

 
189,756

 
189,756

Consumer finance
—

 
3,605

 
3,605

 
—

 
270,361

 
270,361

Tax services
—

 
—

 
—

 
—

 
1,073

 
1,073

Warehouse finance
—

 
65

 
65

 
—

 
65,000

 
65,000

Total National Lending
—

 
4,972

 
4,972

 
13,612

 
1,832,671

 
1,846,283

Community Banking
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate and operating
—

 
6,220

 
6,220

 
451

 
790,439

 
790,890

Consumer one-to-four family real estate and other
—

 
632

 
632

 
94

 
247,224

 
247,318

Agricultural real estate and operating
—

 
1,216

 
1,216

 
1,454

 
59,044

 
60,498

Total Community Banking
—

 
8,068

 
8,068

 
1,999

 
1,096,707

 
1,098,706

Total
$
—

 
$
13,040

 
$
13,040

 
$
15,611

 
$
2,929,378

 
$
2,944,989

(1) Balances have been restated from what was previously reported as of September 30, 2018 on the Company's Annual Report on Form 10-K for its fiscal year ended September 30, 2018.
General allowances represent loss allowances which have been established to recognize the inherent risk associated with lending activities, but which, unlike specific allowances, have not been allocated to particular problem assets.  When assets are classified as “loss,” the Company is required either to establish a specific allowance for losses equal to 100% of that portion of the asset so classified or to charge-off such amount.  The Company's determinations as to the classification of its assets and the amount of its valuation allowances are subject to review by its regulatory authorities, which may order the establishment of additional general or specific loss allowances.
 
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 Allowance for Loan and Lease Losses.
 
The asset classification of loans and leases at December 31, 2018 and September 30, 2018 were as follows:

Asset Classification
Pass
 
Watch
 
Special Mention
 
Substandard
 
Total
December 31, 2018
(Dollars in Thousands)
 
National Lending
 
 
 
 
 
 
 
 
 
Asset based lending
$
498,694

 
$
—

 
$
53,007

 
$
2,371

 
554,072

Factoring
244,992

 
—

 
38,240

 
1,680

 
284,912

Lease financing
284,239

 
—

 
1,650

 
5,000

 
290,889

Insurance premium finance
329,131

 
—

 
1,581

 
—

 
330,712

SBA/USDA
53,539

 
—

 
14,354

 
—

 
67,893

Other commercial finance
89,049

 
—

 
353

 
—

 
89,402

Commercial finance
1,499,644

 
—

 
109,185

 
9,051

 
1,617,880

Consumer credit products
96,144

 
—

 
—

 
—

 
96,144

Other consumer finance
182,510

 
—

 
—

 
—

 
182,510

Consumer finance
278,654

 
—

 
—

 
—

 
278,654

Tax services
76,575

 
—

 
—

 
—

 
76,575

Warehouse finance
176,134

 
—

 
—

 
—

 
176,134

Total National Lending
2,031,007

 
—

 
109,185

 
9,051

 
2,149,243

Community Banking
 
 
 
 
 
 
 
 
 
Commercial real estate and operating
848,456

 
15,297

 
—

 
—

 
863,753

Consumer one-to-four family real estate and other
254,458

 
1,496

 
308

 
79

 
256,341

Agricultural real estate and operating
40,558

 
1,590

 
4,836

 
11,987

 
58,971

Total Community Banking
1,143,472

 
18,383

 
5,144

 
12,066

 
1,179,065

Total loans and leases
$
3,174,479

 
$
18,383

 
$
114,329

 
$
21,117

 
$
3,328,308



Asset Classification
Pass
 
Watch
 
Special Mention
 
Substandard
 
Total
September 30, 2018
(Dollars in Thousands)
 
National Lending
 
 
 
 
 
 
 
 
 
Asset based lending
$
418,635

 
$
—

 
$
57,877

 
$
1,405

 
$
477,917

Factoring
248,246

 
—

 
32,644

 
3,331

 
284,221

Lease financing
252,487

 
—

 
3,951

 
8,877

 
265,315

Insurance premium finance
336,296

 
—

 
1,581

 
—

 
337,877

SBA/USDA
39,093

 
—

 
20,281

 
—

 
59,374

Other commercial finance
85,145

 
—

 
—

 
—

 
85,145

Commercial finance
1,379,902

 
—

 
116,334

 
13,613

 
1,509,849

Consumer credit products
80,605

 
—

 
—

 
—

 
80,605

Other consumer finance
189,756

 
—

 
—

 
—

 
189,756

Consumer finance
270,361

 
—

 
—

 
—

 
270,361

Tax services
1,073

 
—

 
—

 
—

 
1,073

Warehouse finance
65,000

 
—

 
—

 
—

 
65,000

Total National Lending
1,716,336

 
—

 
116,334

 
13,613

 
1,846,283

Community Banking
 
 
 
 
 
 
 
 
 
Commercial real estate and operating
778,445

 
12,251

 
194

 
—

 
790,890

Consumer one-to-four family real estate and other
246,463

 
537

 
239

 
79

 
247,318

Agricultural real estate and operating
42,292

 
2,447

 
4,872

 
10,887

 
60,498

Total Community Banking
1,067,200

 
15,235

 
5,305

 
10,966

 
1,098,706

Total loans and leases
$
2,783,536

 
$
15,235

 
$
121,639

 
$
24,579

 
$
2,944,989


National Lending (Commercial Finance, Consumer Finance, Tax Services and Warehouse Finance)

Commercial Finance
The Company's commercial finance product lines include asset-based lending, factoring, leasing, commercial insurance premium finance, and other commercial finance products offered on a nationwide basis. Asset-based lending and factoring primarily service small businesses that are startups, distressed and/or generally that may not otherwise qualify for traditional bank financing. Leasing focuses on providing equipment finance solutions to mid-market companies. These product offerings supplement the asset generation capacity in our community bank and tax services divisions and enhance the overall yield of our loan and lease portfolio, enabling us to earn attractive risk-adjusted net interest margins.

Asset-Based Lending. Through its Crestmark division, the Bank provides asset-based loans secured by debtors' short-term assets such as inventory, accounts receivable, and work-in-process. Asset-based loans may also be secured by real estate and equipment. The primary sources of repayment are the operating income of the borrower, the collection of the receivables securing the loan, and/or the sale of the inventory securing the loan. Loans are typically revolving lines of credit with terms of one to three years, whereby the Bank withholds a contingency reserve representing the difference between the amount advanced and the fair value of the invoice amount or other collateral value. Credit risk is managed through advance rates appropriate for the collateral, standardized loan policies, established and authorized credit limits, attentive portfolio management and the use of lock box agreements and similar arrangements that result in the Company receiving and controlling the debtors' cash receipts. The Bank also originates collateralized term loans and notes receivable, with terms ranging from three to 25 years.

Factoring. Through its Crestmark division, the Bank provides factoring lending where clients provide detailed inventory, accounts receivable, and work-in-process reports for lending arrangements. The factoring clients are diversified as to industry and geography. With these loans, the Crestmark division withholds a contingency reserve, which is the difference between the fair value of the invoice amount or other collateral value and the amount advanced. This reserve is withheld for nonpayment of factored receivables, service fees and other adjustments. Credit risk is managed through standardized advance policies, established and authorized credit limits, verification of receivables, attentive portfolio management and the use of lock box agreements and similar arrangements that result in the Company receiving and controlling the client's cash receipts. In addition, clients generally guarantee the payment of purchased accounts receivable.

Lease Financing. Through its Crestmark division, the Bank provides creative, flexible lease solutions for technology, capital equipment and select transportation assets like tractors and trailers. Direct financing leases and sales-type leases substantially transfer the benefits and risks of equipment ownership to the lessee.  The lease may contain provisions that transfer ownership to the lessee at the end of the initial term, contain a bargain purchase option or allow for purchase of the equipment at fair market value.  Residual values are estimated at the inception of the lease.  Lease maturities are generally no greater than 84 months. The focus in this lease financing category is to support middle market companies by providing a variety of financing products to help them meet their business objectives.

Insurance Premium Finance. Through its AFS/IBEX division the Bank provides, on a national basis, short-term, primarily collateralized financing to facilitate the commercial customers’ purchase of insurance for various forms of risk, otherwise known as insurance premium financing. This includes, but is not limited to, policies for commercial property, casualty and liability risk.  Premiums are advanced either directly to the insurance carrier or through an intermediary/broker and repaid by the policyholder with interest during the policy term.  The policyholder generally makes a 20% to 25% down payment to the insurance broker and finances the remainder over nine to 10 months on average.  The down payment is set such that if the policy is canceled, the unearned premium is typically sufficient to cover the loan balance and accrued interest. The AFS/IBEX division markets itself to the insurance community as a competitive option based on service, reputation, competitive terms, cost and ease of operation.

Small Business Administration ("SBA") and United States Department of Agriculture ("USDA"). The Bank originates loans through programs partially guaranteed by the SBA or USDA. These loans are made to small businesses and professionals with what the Bank believes are lower risk characteristics.

Other Commercial Finance. Included in this category of loans are the Company's healthcare receivables loan portfolio primarily comprised of loans to individuals for medical services received. The majority of these loans are guaranteed by the hospital providing the service to the debtor and this guarantee serves to reduce credit risk as the guarantors agree to repurchase severely delinquent loans. Credit risk is minimized on these loans based on the guarantor’s repurchase agreement. This loan category also includes commercial real estate loans to customers of the Crestmark division.

Consumer Finance
Consumer Credit Products. Through the acquisition of Specialty Consumer Services, the Bank acquired a platform that provides a total solution for marketplace lending, including underwriting and loan management in the direct-to-consumer credit business. The acquired platform allows the Bank to provide innovative lending solutions through consumer credit products. The Company designs and structures its credit programs in an effort to insulate the Company from program losses and to potentially increase the liquidity attributes of such lending programs' marketability to potential bank or other purchasers. While each program is different, all contain one or more types of credit enhancements, loss protections, or trigger events. When determining the applicable program enhancement, generally, the Company uses proprietary data provided by the Company’s partner, with respect to such program, supplemented with public data to design and shape appropriate loss curves, as well as implement stresses significantly higher than base to provide protection in changing credit cycles. Credit enhancements are typically built through holding excess program interest and fees in a reserve account to pay program credit losses. Cash flow waterfall positioning allows for losses and Company program principal and interest to be paid, under certain circumstances, before servicing or other program expenses. Trigger events allow programs and originations to be suspended if certain vintage loss limits, during a specific period of time, are triggered or if cumulative loss percentages are triggered. These triggers are designed to allow the Company to address potential issues quickly. Other trigger events in certain programs provide for excess credit or reserve enhancements, which could be beyond excess interest amounts, if certain loss triggers are breached. The Bank applies a reserve for loan losses of approximately 1% on outstanding loan balances within each of the consumer credit product programs.

Through December 31, 2018, the Bank has launched two consumer credit programs. During the second quarter of fiscal 2018, the Bank entered into a three-year program agreement with Liberty Lending, LLC ("Liberty Lending") whereby the Bank provides personal loans to Liberty Lending customers. The Bank and Liberty Lending market the program jointly through a wide variety of marketing channels. The loan products under the agreement with Liberty Lending are closed-end installment loans ranging from $3,500 to $45,000 in initial principal amount with durations of between 13 and 60 months.



The Bank entered into a three-year agreement with Health Credit Services ("HCS") during the third quarter of fiscal 2018. The Bank approves and originates loans for elective medical procedures for select HCS provider offices throughout the United States. HCS works with its provider partners to market the loans, as well as provide servicing for them. The loan products offered are unsecured, closed-end installment loans with terms between 12 and 84 months and revolving lines of credit with durations between six and 60 months.

Other Consumer Finance. The Bank's purchased student loan portfolios are seasoned, floating rate, private portfolios that are serviced by a third-party servicer. The portfolio purchased during the first quarter of fiscal year 2018 is indexed to one-month LIBOR, while the portfolio purchased in the first quarter of fiscal year 2017 is indexed to three-month LIBOR plus various margins. The Company received written notification on June 18, 2018 from ReliaMax Surety Company ("ReliaMax"), the company that provided insurance coverage for the student loan portfolios, which informed policy holders that the South Dakota Division of Insurance filed a petition to have ReliaMax declared insolvent and to adopt a plan of liquidation. An Order of Liquidation was entered on June 27, 2018 by the Sixth Circuit Court in Hughes County, South Dakota, declaring ReliaMax insolvent and appointing the South Dakota Division of Insurance as liquidator to adopt a plan of liquidation. The Company expects to ultimately recover a portion of the unearned premiums, which could take a year or longer.

Tax Services
The Bank's tax services division provides short-term taxpayer advance loans. Taxpayers are underwritten to determine eligibility for these unsecured loans. Due to the nature of taxpayer 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. The Bank will charge off the balance of a taxpayer advance loan if there is a balance at the end of the calendar year, or when collection of principal becomes doubtful.

Through its tax services division, the Bank provides 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
In fiscal 2018, the Bank entered into a first-out participation agreement in a consumer receivable asset-backed warehouse line of credit, with the Bank holding a senior collateral position enhanced by a subordinate party structure. During the first quarter of fiscal 2019, the Bank entered into two additional first-out participation agreements in asset-backed warehouse lines of credit, including consumer loan receivables and small business loan receivables. The senior collateral position of the Bank is supported by a subordinate party position.

Community Banking

Commercial Real Estate and Operating. The Company engages in commercial and multi-family real estate lending in the community bank's primary market areas and surrounding areas. These loans are secured primarily by apartment buildings, office buildings, and hotels.  Commercial and multi-family real estate loans generally are underwritten with terms not exceeding 20 years, have loan-to-value ratios of up to 80% of the appraised value of the property securing the loan, and are typically secured by guarantees of the borrowers.  The Company has a variety of rate adjustment features and other terms in its commercial and multi-family real estate loan portfolio.  Commercial and multi-family real estate loans provide for a margin over a number of different indices.  In underwriting these loans, the Company analyzes the financial condition of the borrower, the borrower’s credit history, and the reliability and predictability of the cash flow generated by the property securing the loan.  Appraisals on properties securing commercial real estate loans originated by the Company are performed by independent appraisers.
 
The repayment of loans secured by commercial and multi-family real estate is typically dependent upon the successful operation of the related real estate project.  If the cash flow from the project is reduced (for example, if leases are not obtained or renewed, or a bankruptcy court modifies a lease term, or a major tenant is unable to fulfill its lease obligations), the borrower’s ability to repay the loan may be impaired.


The Company originates its community banking commercial operating loans primarily in its market areas.  Most of these commercial operating loans have been extended to finance local and regional businesses and include short-term loans to finance machinery and equipment purchases, inventory and accounts receivable.  Commercial loans also may involve the extension of revolving credit for a combination of equipment acquisitions and working capital in expanding companies. The maximum term for loans extended on machinery and equipment is based on the projected useful life of such machinery and equipment.  Generally, the maximum term on non-mortgage lines of credit is one year. 

The Company’s commercial operating lending policy includes credit file documentation and analysis of the borrower’s management ability, capacity to repay the loan, the adequacy of the borrower’s capital and collateral as well as an evaluation of conditions affecting the borrower.  Analysis of the borrower’s past, present and future cash flows is also an important aspect of the Company’s current credit analysis. Commercial operating loans typically are made on the basis of the borrower’s ability to make repayment from the cash flow of the borrower’s business.  As a result, the availability of funds for the repayment of commercial operating loans may be substantially dependent on the success of the business itself (which, in turn, is likely to be dependent upon the general economic environment).  The Company’s commercial operating loans are usually secured by business assets and personal guarantees.  However, the collateral securing the loans may depreciate over time, may be difficult to appraise and may fluctuate in value based on the success of the business.

Consumer One-to-Four Family Real Estate and Other. One-to-four family real estate loan originations are typically generated by the Company’s marketing efforts, its present customers, walk-in customers and referrals. The Company offers fixed-rate loans and adjustable-rate mortgage ("ARM") loans for both permanent structures and those under construction. The Company’s one-to-four family real estate loan originations are secured primarily by properties located in the community bank's primary market areas and surrounding areas.

The Company originates one-to-four family real estate loans with terms up to a maximum of 30 years and with loan-to-value ratios up to 100% of the lesser of the appraised value of the property securing the loan or the contract price. However, the vast majority of these loans are originated with loan-to-value ratios below 80%. The Company generally requires that private mortgage insurance be obtained in an amount sufficient to reduce the Company’s exposure to at or below the 80% loan‑to‑value level. Due to consumer demand, the Company also offers fixed-rate mortgage loans with terms up to 30 years, which may conform to secondary market standards such as Fannie Mae, Ginnie Mae, and Freddie Mac standards.  The Company typically holds all fixed-rate mortgage loans and does not engage in secondary market sales.  The Company also currently offers five- and ten-year ARM loans.
 
In underwriting one-to-four family real estate loans, the Company evaluates both the borrower’s ability to make monthly payments and the value of the property securing the loan.  Properties securing real estate loans made by the Company are appraised by independent appraisers approved by the Board of Directors of the Company.  The Company generally requires borrowers to obtain an attorney’s title opinion or title insurance, as well as fire and property insurance (including flood insurance, if necessary) in an amount not less than the amount of the loan.  Real estate loans originated by the Company generally contain a “due on sale” clause that allows the Company to declare the unpaid principal balance due and payable upon the sale of the security property.  The Company has not engaged in sub-prime residential mortgage originations.

The Company originates a variety of secured consumer loans, including home equity, home improvement, automobile and boat loans, as well as loans secured by savings deposits in its primary market areas and surrounding areas. Substantially all of the Company’s home equity loans and lines of credit are secured by second mortgages on principal residences.  The Bank will lend amounts that, together with all prior liens, may be up to 90% of the appraised value of the property securing the loan.  Home equity loans and lines of credit generally have maximum terms of five years.

Consumer loan terms vary according to the type and value of collateral, length of contract and creditworthiness of the borrower.  The underwriting standards employed by the Bank for consumer loans include an application, a determination of the applicant’s payment history on other debts and an assessment of ability to meet existing obligations and payments on the proposed loan.  Although creditworthiness of the applicant is a primary consideration, the underwriting process also may include a comparison of the value of the security, if any, in relation to the proposed loan amount.

Agricultural Real Estate and Operating. The Company originates loans to finance the purchase of farmland, livestock, farm machinery and equipment, seed, fertilizer, and other farm-related products, primarily in its market areas. Agricultural operating loans are originated at either an adjustable- or fixed-rate of interest for up to a one-year term or, in the case of livestock, are due upon sale.  Agricultural real estate loans are frequently originated with adjustable rates of interest.  Generally, such loans provide for a fixed rate of interest for the first five to 10 years, after which the loan will balloon or the interest rate will adjust annually.  These loans generally amortize over a period of 20 to 25 years.  Fixed-rate agricultural real estate loans typically have terms up to 10 years.  Agricultural real estate loans are generally limited to 75% of the value of the property securing the loan.
  
Payments on loans are dependent on the successful operation or management of the farm property securing the loan or for which an operating loan is utilized.  The success of the loan may also be affected by many factors outside the control of the borrower such as weather, government support programs and grain and livestock prices. These risks may be reduced, by the farmer, with the use of crop insurance coverage and futures contracts or options to mitigate price risk, both of which the Company frequently requires of the borrowers to help ensure loan repayment. Many farms are also dependent on a limited number of key individuals whose injury or death may result in an inability to successfully operate the farm.
 
Past due loans and leases at December 31, 2018 and September 30, 2018 were as follows:
 
Accruing and Non-accruing Loans and Leases
 
Non-performing Loans and Leases
Past Due Loans and Leases
30-59 Days
Past Due
 
60-89 Days
Past Due
 
>
89 Days Past Due
 
Total Past
Due
 
Current
 
Total Loans and Leases
Receivable
 
> 89 Days Past Due and Accruing
 
Non-accrual balance
 
Total
December 31, 2018
(Dollars in Thousands)
National Lending
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset based lending
$
739

 
$
—

 
$
336

 
$
1,075

 
$
552,997

 
$
554,072

 
$
—

 
$
1,007

 
$
1,007

Factoring
—

 
—

 
—

 
—

 
284,912

 
284,912

 
—

 
307

 
307

Lease financing
9,685

 
4,205

 
5,259

 
19,149

 
271,740

 
290,889

 
1,335

 
4,841

 
6,176

Insurance premium finance
1,579

 
789

 
2,796

 
5,164

 
325,548

 
330,712

 
2,796

 
—

 
2,796

SBA/USDA
483

 
—

 
—

 
483

 
67,410

 
67,893

 
—

 
—

 
—

Other commercial finance
—

 
—

 
—

 
—

 
89,402

 
89,402

 
—

 
—

 
—

Commercial finance
12,486

 
4,994

 
8,391

 
25,871

 
1,592,009

 
1,617,880

 
4,131

 
6,155

 
10,286

Consumer credit products
701

 
369

 
310

 
1,380

 
94,764

 
96,144

 
310

 
—

 
310

Other consumer finance
2,879

 
1,497

 
3,196

 
7,572

 
174,938

 
182,510

 
3,196

 
—

 
3,196

Consumer finance
3,580

 
1,866

 
3,506

 
8,952

 
269,702

 
278,654

 
3,506

 
—

 
3,506

Tax services
—

 
—

 
—

 
—

 
76,575

 
76,575

 
—

 
—

 
—

Warehouse finance
—

 
—

 
—

 
—

 
176,134

 
176,134

 
—

 
—

 
—

Total National Lending
16,066

 
6,860

 
11,897

 
34,823

 
2,114,420

 
2,149,243

 
7,637

 
6,155

 
13,792

Community Banking
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate and operating
25

 
—

 
—

 
25

 
863,728

 
863,753

 
—

 
—

 
—

Consumer one-to-four family real estate and other
67

 
20

 
79

 
166

 
256,175

 
256,341

 
79

 
—

 
79

Agricultural real estate and operating
—

 
—

 
—

 
—

 
58,971

 
58,971

 
—

 
—

 
—

Total Community Banking
92

 
20

 
79

 
191

 
1,178,874

 
1,179,065

 
79

 
—

 
79

Total Loans and Leases
$
16,158

 
$
6,880

 
$
11,976

 
$
35,014

 
$
3,293,294

 
$
3,328,308

 
$
7,716

 
$
6,155

 
$
13,871


 
Accruing and Non-accruing Loans and Leases
 
Non-performing Loans and Leases
Past Due Loans and Leases
30-59 Days
Past Due
 
60-89 Days
Past Due
 
>
89 Days Past Due
 
Total Past
Due
 
Current
 
Total Loans and Leases
Receivable
 
> 89 Days Past Due and Accruing
 
Non-accrual balance
 
Total
September 30, 2018
(Dollars in Thousands)
National Lending
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset based lending
$
1,235

 
$
2,151

 
$
94

 
$
3,480

 
$
474,437

 
$
477,917

 
$
94

 
$
—

 
$
94

Factoring
—

 
—

 
—

 
—

 
284,221

 
284,221

 
—

 
—

 
—

Lease financing
16,542

 
532

 
2,921

 
19,995

 
245,320

 
265,315

 
726

 
2,864

 
3,590

Insurance premium finance
1,864

 
1,019

 
2,981

 
5,864

 
332,013

 
337,877

 
2,981

 
—

 
2,981

SBA/USDA
1,067

 
—

 
—

 
1,067

 
58,307

 
59,374

 
—

 
—

 
—

Other commercial finance
—

 
—

 
—

 
—

 
85,145

 
85,145

 
—

 
—

 
—

Commercial finance
20,708

 
3,702

 
5,996

 
30,406

 
1,479,443

 
1,509,849

 
3,801

 
2,864

 
6,665

Consumer credit products
532

 
284

 
147

 
963

 
79,642

 
80,605

 
147

 
—

 
147

Other consumer finance
2,677

 
1,311

 
2,237

 
6,225

 
183,531

 
189,756

 
2,237

 
—

 
2,237

Consumer finance
3,209

 
1,595

 
2,384

 
7,188

 
263,173

 
270,361

 
2,384

 
—

 
2,384

Tax services
—

 
—

 
1,073

 
1,073

 
—

 
1,073

 
1,073

 
—

 
1,073

Warehouse finance
—

 
—

 
—

 
—

 
65,000

 
65,000

 
—

 
—

 
—

Total National Lending
23,917

 
5,297

 
9,453

 
38,667

 
1,807,616

 
1,846,283

 
7,258

 
2,864

 
10,122

Community Banking
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate and operating
—

 
—

 
—

 
—

 
790,890

 
790,890

 
—

 
—

 
—

Consumer one-to-four family real estate and other
105

 
—

 
79

 
184

 
247,134

 
247,318

 
79

 
—

 
79

Agricultural real estate and operating
—

 
—

 
—

 
—

 
60,498

 
60,498

 
—

 
—

 
—

Total Community Banking
105

 
—

 
79

 
184

 
1,098,522

 
1,098,706

 
79

 
—

 
79

Total Loans and Leases
$
24,022

 
$
5,297

 
$
9,532

 
$
38,851

 
$
2,906,138

 
$
2,944,989

 
$
7,337

 
$
2,864

 
$
10,201



Certain loans and leases 89 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) one-to-four family real estate loans or consumer loans exempt under regulatory rules from being classified as non-accrual until later delinquency, usually 120 days past due.
When analysis of borrower or lessee operating results and financial condition indicates that underlying cash flows of the borrower’s business are not adequate to meet its debt service requirements, the loan or lease is evaluated for impairment.  Often, this is associated with a delay or shortfall in scheduled payments, as described above.

Impaired loans and leases at December 31, 2018 and September 30, 2018 were as follows:

December 31, 2018
Recorded
Balance
 
Unpaid Principal
Balance
 
Specific
Allowance
Loans and leases without a specific valuation allowance
(Dollars in Thousands)
National Lending
 
 
 
 
 
Asset based lending
$
2,371

 
$
2,871

 
$
—

Factoring
885

 
1,453

 
—

Lease financing
5,000

 
5,000

 
—

Commercial finance
8,256

 
9,324

 
—

Total National Lending
8,256

 
9,324

 
—

Community Banking
 
 
 
 
 
Commercial real estate and operating
402

 
402

 
—

Consumer one-to-four family real estate and other
138

 
138

 
—

Agricultural real estate and operating
1,511

 
1,511

 
—

Total Community Banking
2,051

 
2,051

 
—

Total
$
10,307

 
$
11,375

 
$
—

Loans and leases with a specific valuation allowance
 
 
 
 
 
National Lending
 
 
 
 
 
Factoring
$
795

 
$
795

 
$
134

Commercial finance
795

 
795

 
134

Total National Lending
795

 
795

 
134

Total
$
795

 
$
795

 
$
134


September 30, 2018
Recorded
Balance
 
Unpaid Principal
Balance
 
Specific
Allowance
Loans and leases without a specific valuation allowance
(Dollars in Thousands)
National Lending
 
 
 
 
 
Asset based lending
$
1,325

 
$
1,325

 
$
—

Factoring
1,383

 
1,713

 
—

Lease financing
5,491

 
5,491

 
—

Commercial finance
8,199

 
8,529

 
—

Total National Lending
8,199

 
8,529

 
—

Community Banking
405

 
405

 
—

Commercial real estate and operating
140

 
140

 
—

Consumer one-to-four family real estate and other
1,454

 
1,454

 
—

Agricultural real estate and operating
1,999

 
1,999

 
—

Total
$
10,198

 
$
10,528

 
$
—

Loans and leases with a specific valuation allowance
 
 
 
 
 
National Lending
 
 
 
 
 
Asset based lending
$
79

 
$
79

 
$
22

Factoring
1,948

 
2,198

 
49

Lease financing
3,386

 
3,386

 
517

Commercial finance
5,413

 
5,663

 
588

Total National Lending
5,413

 
5,663

 
588

Total
$
5,413

 
$
5,413

 
$
588

The following table provides the average recorded investment in impaired loans and leases for the three month periods ended December 31, 2018 and 2017.
 
December 31, 2018
 
December 31, 2017
 
Average
Recorded
Investment
 
Recognized Interest Income
 
Average
Recorded
Investment
 
Recognized Interest Income
 
(Dollars in Thousands)
National Lending
 
 
 
 
 
 
 
Asset based lending
$
1,726

 
$
79

 
$
—

 
$
—

Factoring
2,780

 
5

 
—

 
—

Lease financing
7,585

 
10

 
—

 
—

Commercial finance
12,091

 
94

 
—

 
—

Total National Lending
12,091

 
94

 
—

 
—

Community Banking
 
 
 
 
 
 
 
Commercial real estate and operating
404

 
4

 
975

 
5

Consumer one-to-four family real estate and other
139

 
2

 
100

 
2

Agricultural real estate and operating
1,473

 
25

 
351

 
14

Total Community Banking
2,016

 
31

 
1,426

 
21

Total loans and leases
$
14,107

 
$
125

 
$
1,426

 
$
21


The Company’s troubled debt restructurings ("TDRs") typically involve forgiving a portion of interest or principal on existing loans, making loans at a rate materially less than current market rates, or extending the term of the loan. There were two community banking loans with an aggregate balance of $0.1 million and one national lending lease with a balance of $0.1 million that was modified in a TDR during the three months ended December 31, 2018, all of which were modified to extend the term of the loan, and no loans modified in a TDR during the three months ended December 31, 2017.

At December 31, 2018, foreclosed and repossessed assets totaled $31.5 million, compared to $31.6 million at September 30, 2018. There were no impairments on or valuation allowances established for any foreclosed and repossess assets at either date. The Company did not have at December 31, 2018 any loans or leases in the process of foreclosure.
v3.10.0.1
EARNINGS PER COMMON SHARE
 3 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE

Earnings per share is computed after deducting dividends. 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. Basic earnings per share is computed 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 earnings per share 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 of the Company’s stock options and after the allocation of earnings to the participating securities. Antidilutive options are disregarded in earnings per share calculations. The share and per share amounts for fiscal year 2018 have been restated to reflect the 3-for-1 forward stock split of the Company's common stock that was effected by the Company on October 4, 2018.

A reconciliation of net income and common stock share amounts used in the computation of basic and diluted earnings per share for the three months ended December 31, 2018 and 2017 is presented below.
Three Months Ended December 31,
2018
 
2017
(Dollars in Thousands, Except Share and Per Share Data)
 
 
 
Basic income per common share:
 
 
 
     Net income attributable to Meta Financial Group, Inc.
$
15,398

 
$
4,670

Weighted average common shares outstanding
39,335,054

 
28,970,334

     Basic income per common share
0.39

 
0.16

 
 
 
 
Diluted income per common share:
 
 
 
     Net income attributable to Meta Financial Group, Inc.
$
15,398

 
$
4,670

Weighted average common shares outstanding
39,335,054

 
28,970,334

     Outstanding options - based upon the two-class method
71,453

 
168,189

Weighted average diluted common shares outstanding
39,406,507

 
29,138,523

     Diluted income per common share
0.39

 
0.16

 
 
 
 
v3.10.0.1
SECURITIES
 3 Months Ended
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
SECURITIES
SECURITIES

On October 1, 2018, the Company adopted ASU 2016-01 on a prospective basis, which redefined the definition of equity securities and required their segregation from available for sale debt securities. While changes in the fair value of debt securities continue to be recorded in the equity category of accumulated other comprehensive income, the new guidance requires that changes in fair value of equity securities with readily determinable fair value be recorded in current earnings. As required by the new guidance, the unrealized gain in fair value on equity securities with readily determinable fair value (recorded in accumulated other comprehensive income at September 30, 2018) was reclassified to retained earnings on October 1, 2018. The amount of the reclassification was $0.5 million, net of tax. Equity securities with readily determinable fair value include mutual funds of $1.8 million at cost and $1.8 million at fair value at December 31, 2018.

The amortized cost, gross unrealized gains and losses and estimated fair values of available for sale ("AFS") and held to maturity ("HTM") debt securities at December 31, 2018 and September 30, 2018 are presented below.
At December 31, 2018
AMORTIZED
COST
 
GROSS
UNREALIZED
GAINS
 
GROSS
UNREALIZED
(LOSSES)
 
FAIR
VALUE
 
(Dollars in Thousands)
Debt securities AFS
 
 
 
 
 
 
 
Small business administration securities
$
94,242

 
$
165

 
$
(351
)
 
$
94,056

Obligations of states and political subdivisions
15,023

 
73

 
(146
)
 
14,950

Non-bank qualified obligations of states and political subdivisions
970,288

 
2,787

 
(28,504
)
 
944,571

Asset-backed securities
287,247

 
1,261

 
(1,215
)
 
287,293

Mortgage-backed securities
366,467

 
157

 
(12,438
)
 
354,186

Total debt securities AFS
$
1,733,267

 
$
4,443

 
$
(42,654
)
 
$
1,695,056

Common equities and mutual funds(1)(2)
$
3,494

 
$
357

 
$
(14
)
 
$
3,837

(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.
(2) ASU 2016-01 adopted on October 1, 2018, on a prospective basis, removed equity securities from AFS category at December 31, 2018.

At September 30, 2018
AMORTIZED
COST
 
GROSS
UNREALIZED
GAINS
 
GROSS
UNREALIZED
(LOSSES)
 
FAIR
VALUE
 
(Dollars in Thousands)
Debt securities AFS
 
 
 
 
 
 
 
Small business administration securities
$
45,591

 
$
1

 
$
(1,255
)
 
$
44,337

  Obligations of states and political subdivisions
17,154

 
49

 
(293
)
 
16,910

Non-bank qualified obligations of states and political subdivisions
1,140,884

 
826

 
(31,825
)
 
1,109,885

Asset-backed securities
310,700

 
2,585

 
(257
)
 
313,028

Mortgage-backed securities
378,301

 
—

 
(14,236
)
 
364,065

Total debt securities AFS
$
1,892,630

 
$
3,461

 
$
(47,866
)
 
$
1,848,225

Common equities and mutual funds(1)
3,172

 
635

 
(7
)
 
3,800

Total AFS securities(1)
$
1,895,802

 
$
4,096

 
$
(47,873
)
 
$
1,852,025


(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.

Held to Maturity
 
 
 
 
 
 
 
At December 31, 2018
AMORTIZED
COST
 
GROSS
UNREALIZED
GAINS
 
GROSS
UNREALIZED
(LOSSES)
 
FAIR
VALUE
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
153,075

 
$
—

 
$
(8,820
)
 
$
144,255

Mortgage-backed securities
7,661

 
—

 
(326
)
 
7,335

Total held to maturity securities
$
160,736

 
$
—

 
$
(9,146
)
 
$
151,590

At September 30, 2018
AMORTIZED
COST
 
GROSS
UNREALIZED
GAINS
 
GROSS
UNREALIZED
(LOSSES)
 
FAIR
VALUE
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
163,893

 
$
—

 
$
(10,758
)
 
$
153,135

Mortgage-backed securities
7,850

 
—

 
(422
)
 
7,428

Total held to maturity securities
$
171,743

 
$
—

 
$
(11,180
)
 
$
160,563



Management has implemented a process to identify securities with potential credit impairment that are other-than-temporary.  This process involves evaluation of the length of time and extent to which the fair value has been less than the amortized cost basis, review of available information regarding the financial position of the issuer, monitoring the rating, watch, and outlook of the security, monitoring changes in value, cash flow projections, and the Company’s intent to sell a security or whether it is more likely than not the Company will be required to sell the security before the recovery of its amortized cost which, in some cases, may extend to maturity.  To the extent the Company determines that a security is deemed to be other-than-temporarily impaired, an impairment loss is recognized.

For all securities considered temporarily impaired, the Company does not intend to sell these securities, and it is not more likely than not that the Company will be required to sell the security before recovery of its amortized cost, which may occur at maturity.  The Company believes it will collect all principal and interest due on all investments with amortized cost in excess of fair value and considered only temporarily impaired.




GAAP requires that, at acquisition, an enterprise classify debt securities into one of three categories: AFS, HTM or trading. AFS securities are carried at fair value on the consolidated statements of financial condition, and unrealized holding gains and losses are excluded from earnings and recognized as a separate component of equity in accumulated other comprehensive income (“AOCI”). HTM debt securities are measured at amortized cost. Both AFS and HTM are subject to review for other-than-temporary impairment. The Company did not have any trading securities at December 31, 2018 or September 30, 2018.

Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2018 and September 30, 2018, were as follows:
 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At December 31, 2018
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities AFS
 
 
 
 
 
 
 
 
 
 
 
Small business administration securities
$
—

 
$
—

 
$
28,318

 
$
(351
)
 
$
28,318

 
$
(351
)
Obligations of states and political subdivisions
2,089

 
(6
)
 
7,198

 
(140
)
 
9,287

 
(146
)
Non-bank qualified obligations of states and political subdivisions
112,208

 
(2,443
)
 
525,831

 
(26,061
)
 
638,039

 
(28,504
)
Asset-backed securities
162,550

 
(1,215
)
 
—

 
—

 
162,550

 
(1,215
)
Mortgage-backed securities
4,063

 
(16
)
 
321,021

 
(12,422
)
 
325,084

 
(12,438
)
Total debt securities AFS
$
280,910

 
$
(3,680
)
 
$
882,368

 
$
(38,974
)
 
$
1,163,278

 
$
(42,654
)
Common equities and mutual funds(1)(2)
2,001

 
(14
)
 
—

 
—

 
2,001

 
(14
)
(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.
(2) ASU 2016-01 adopted on October 1, 2018, on a prospective basis, removed equity securities from AFS category at December 31, 2018.

 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At September 30, 2018
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities AFS
 
 
 
 
 
 
 
 
 
 
 
Small Business Administration securities
$
43,097

 
$
(1,255
)
 
$
—

 
$
—

 
$
43,097

 
$
(1,255
)
Obligations of state and political subdivisions
11,036

 
(279
)
 
881

 
(14
)
 
11,917

 
(293
)
Non-bank qualified obligations of states and political subdivisions
626,693

 
(13,539
)
 
358,095

 
(18,286
)
 
984,788

 
(31,825
)
Asset-backed securities
146,638

 
(257
)
 
—

 
—

 
146,638

 
(257
)
Mortgage-backed securities
121,217

 
(3,292
)
 
242,849

 
(10,944
)
 
364,066

 
(14,236
)
Total debt securities AFS
$
948,681

 
$
(18,622
)
 
$
601,825

 
$
(29,244
)
 
$
1,550,506

 
$
(47,866
)
Common equities and mutual funds(1)
1,818

 
(7
)
 
—

 
—

 
1,818

 
(7
)
Total debt AFS securities(1)
$
950,499

 
$
(18,629
)
 
$
601,825

 
$
(29,244
)
 
$
1,552,324

 
$
(47,873
)

(1)Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.

Held To Maturity
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At December 31, 2018
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
—

 
$
—

 
$
144,255

 
$
(8,820
)
 
$
144,255

 
$
(8,820
)
Mortgage-backed securities
—

 
—

 
7,335

 
(326
)
 
7,335

 
(326
)
Total held to maturity securities
$
—

 
$
—

 
$
151,590

 
$
(9,146
)
 
$
151,590

 
$
(9,146
)

 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At September 30, 2018
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
5,767

 
$
(287
)
 
$
147,368

 
$
(10,471
)
 
$
153,135

 
$
(10,758
)
Mortgage-backed securities
—

 
—

 
7,428

 
(422
)
 
7,428

 
(422
)
Total held to maturity securities
$
5,767

 
$
(287
)
 
$
154,796

 
$
(10,893
)
 
$
160,563

 
$
(11,180
)


At December 31, 2018, the investment portfolio included securities with current unrealized losses that have existed for longer than one year.  All of these securities are considered to be acceptable credit risks. Because (i) the declines in fair value were due to changes in market interest rates, not in estimated cash flows, (ii) the Company does not intend or has not made a decision to sell these securities and (iii) it is not more likely than not that the Company will be required to sell the securities before recovery of their amortized cost basis, which may occur at maturity, no other-than-temporary impairment was recorded at December 31, 2018.

The amortized cost and fair value of debt securities by contractual maturity as of the dates set forth below 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 mortgage-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.  Therefore, mortgage-backed securities are not included in the maturity categories in the following maturity summary.  The expected maturities of certain housing related municipal securities, Small Business Administration and asset-backed securities may differ from contractual maturities because the borrowers may have the right to prepay the obligation. However, certain prepayment penalties may apply.
Securities at Fair Value
AMORTIZED
COST
 
FAIR
VALUE
 
At December 31, 2018
(Dollars in Thousands)
 
 
 
 
Due in one year or less
$
1,585

 
$
1,581

Due after one year through five years
25,283

 
25,483

Due after five years through ten years
250,025

 
251,933

Due after ten years
1,089,907

 
1,061,873

 
1,366,800

 
1,340,870

Mortgage-backed securities
366,467

 
354,186

Total securities at fair value
$
1,733,267

 
$
1,695,056

 
AMORTIZED
COST
 
FAIR
VALUE
At September 30, 2018
(Dollars in Thousands)
 
 
 
 
Due in one year or less
$
2,532

 
$
2,529

Due after one year through five years
41,415

 
41,504

Due after five years through ten years
352,099

 
350,143

Due after ten years
1,118,283

 
1,089,984

 
1,514,329

 
1,484,160

Mortgage-backed securities
378,301

 
364,065

Common equities and mutual funds(1)
3,172

 
3,800

Total securities at fair value
$
1,895,802

 
$
1,852,025

(1)Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.

Held To Maturity
AMORTIZED
COST
 
FAIR
VALUE
 
At December 31, 2018
(Dollars in Thousands)
 
 
 
 
Due after ten years
$
153,075

 
$
144,255

 
153,075

 
144,255

Mortgage-backed securities
7,661

 
7,335

Total held to maturity securities at cost
$
160,736

 
$
151,590

 
AMORTIZED
COST
 
FAIR
VALUE
At September 30, 2018
(Dollars in Thousands)
Due after ten years
$
163,893

 
$
153,135

 
163,893

 
153,135

Mortgage-backed securities
7,850

 
7,428

Total held to maturity securities at cost
$
171,743

 
$
160,563



Other investments, at cost, which are included in other assets on the consolidated statement of financial condition, include equity securities without a readily determinable fair value and shares of stock in the Federal Home Loan Bank ("FHLB") of Des Moines. Equity securities without a readily determinable fair value totaled $2.0 million at December 31, 2018 and $2.0 million at September 30, 2018, respectively. FHLB of Des Moines stock at December 31, 2018 and September 30, 2018 totaled $15.6 million and $23.4 million, respectively. The decrease in FHLB stock directly correlates with lower short-term borrowings balances at December 31, 2018 compared to September 30, 2018. The Company’s wholly-owned subsidiary, MetaBank, is required by federal law to maintain FHLB stock as a member of FHLB of Des Moines. 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, FHLB stock is less liquid than other marketable equity securities, and the fair value approximates cost. The Company evaluates impairment for investments held at cost on at least an annual basis based on the ultimate recoverability of the par value. No impairment was recognized for such investments for the three months ended December 31, 2018.
v3.10.0.1
RENTAL EQUIPMENT, NET
 3 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
RENTAL EQUIPMENT, NET
RENTAL EQUIPMENT, NET
Rental equipment was as follows as of December 31, 2018 and September 30, 2018.
 
December 31, 2018
 
September 30, 2018
 
(Dollars in thousands)
Computers and IT networking equipment
$
50,122

 
$
55,215

Motor vehicles and other
50,259

 
45,293

Office furniture and equipment
3,756

 
3,738

Solar panels and equipment
102,105

 
65,938

Total
206,242

 
170,183

 
 
 
 
Accumulated depreciation
(59,427
)
 
(62,893
)
Net book value
$
146,815

 
$
107,290


Future minimum lease payments receivable on equipment under operating leases was as follows as of December 31, 2018.
 
December 31, 2018
 
(Dollars in thousands)
2019
$
22,679

2020
19,444

2021
14,679

2022
9,283

2023
7,808

2024 and thereafter
18,882

Total
$
92,775
v3.10.0.1
STOCK COMPENSATION
 3 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
STOCK COMPENSATION
STOCK COMPENSATION

The Company maintains the amended and restated Meta Financial Group, Inc. 2002 Omnibus Incentive Plan, as amended (the "2002 Omnibus Incentive Plan"), which, among other things, provides for the awarding of stock options and nonvested (restricted) shares to certain officers and directors of the Company.  Awards are granted by the Compensation Committee of the Board of Directors based on the performance of the award recipients or other relevant factors.

Compensation expense for share-based awards is recorded over the vesting period at the fair value of the award at the time of the grant. The exercise price of options or fair value of non-vested (restricted) shares granted under the Company’s incentive plan is equal to the fair market value of the underlying stock at the grant date. The Company has elected, with the adoption of ASU 2016-09, to record forfeitures as they occur.

The following tables show the activity of options and nonvested (restricted) shares granted, exercised, or forfeited under the 2002 Omnibus Incentive Plan for the three months ended December 31, 2018:

 
Number of Shares
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Term (Yrs)
 
Aggregate Intrinsic Value
 
(Dollars in Thousands, Except Per Share Data (1))
Options outstanding, September 30, 2018
155,961

 
$
8.48

 
1.78

 
$
2,974

Granted
—

 
—

 
—

 
—

Exercised
(45,132
)
 
8.95

 
—

 
742

Forfeited or expired
—

 
—

 
—

 
—

Options outstanding, December 31, 2018
110,829

 
$
8.29

 
1.67

 
$
1,230

 
 
 
 
 
 
 
 
Options exercisable, December 31, 2018
110,829

 
$
8.29

 
1.67

 
$
1,230



 
Number of Shares
 
Weighted Average Fair Value at Grant
(Dollars in Thousands, Except Per Share Data (1))
Nonvested (restricted) shares outstanding, September 30, 2018
1,005,813

 
$
29.89

Granted
224,102

 
25.11

Vested
(245,842
)
 
27.29

Forfeited or expired
—

 
—

Nonvested (restricted) shares outstanding, December 31, 2018
984,073

 
$
29.45

(1) All share and per share data has been adjusted to reflect the 3-for-1 forward stock split effected by the Company on October 4, 2018.

At December 31, 2018, stock-based compensation expense not yet recognized in income totaled $18.3 million, which is expected to be recognized over a weighted average remaining period of 3.11 years.
v3.10.0.1
INCOME TAXES
 3 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
INCOME TAXES
INCOME TAXES

The Company recorded an income tax benefit of $1.7 million for the three months ended December 31, 2018, resulting in an effective tax rate of (11.56%), compared to an income tax expense of $5.7 million, or an effective tax rate of 54.90%, for the three months ended December 31, 2017. The Company’s effective tax rate is lower than the U.S. statutory rate of 21% primarily because of the anticipated effect of investment tax credits during fiscal year 2019. The Company’s effective tax rate in the future will depend in part on actual investment tax credits earned as part of its financing of solar energy projects.

The table below compares the income tax expense components for the periods presented.
Three Months Ended December 31,
2018
 
2017
(Dollars in Thousands)
 
 
 
Provision at statutory rate
$
3,072

 
$
2,540

Tax-exempt income
(1,201
)
 
(2,068
)
State income taxes
701

 
718

Interim period effective rate adjustment
5,263

 
717

Tax credit investments, net - federal
(9,568
)
 
—

Tax Reform rate adjustment
—

 
3,635

Other, net
42

 
142

Income tax expense
$
(1,691
)
 
$
5,684

Effective tax rate
(11.56
%)
 
54.90
%
v3.10.0.1
COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES

In the normal course of business, the Bank makes various commitments to extend credit that are not reflected in the accompanying Consolidated Financial Statements.

At December 31, 2018 and September 30, 2018, unfunded loan commitments approximated $858.1 million and $748.8 million, respectively, excluding undisbursed portions of loans in process. Commitments, which are disbursed subject to certain limitations, extend over various periods of time.  Generally, unused commitments are canceled upon expiration of the commitment term as outlined in each individual contract.

The Company had no commitments to purchase securities at December 31, 2018 and $1.4 million in commitments to purchase securities at September 30, 2018. The Company had no commitments to sell securities at December 31, 2018 or September 30, 2018.

The exposure to credit loss in the event of non-performance by other parties to financial instruments for commitments to extend credit is represented by the contractual amount of those instruments.  The same credit policies and collateral requirements are used in making commitments and conditional obligations as are used for on-balance-sheet instruments. At December 31, 2018 and at September 30, 2018, the Company had an allowance for credit losses on off-balance sheet credit exposures of $0.1 million. This amount is maintained as a separate liability account within other liabilities.
Since certain commitments to make loans and to fund lines of credit and loans in process expire without being used, the amount does not necessarily represent future cash commitments.  In addition, commitments used to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract.

Legal Proceedings

The Bank was served on April 15, 2013, with a lawsuit captioned Inter National Bank v. NetSpend Corporation, MetaBank, BDO USA, LLP d/b/a BDO Seidman, Cause No. C-2084-12-I filed in the District Court of Hidalgo County, Texas. The Plaintiff’s Second Amended Original Petition and Application for Temporary Restraining Order and Temporary Injunction adds both MetaBank and BDO Seidman to the original causes of action against NetSpend. NetSpend acts as a prepaid card program manager and processor for both Inter National Bank ("INB") and MetaBank. According to the Petition, NetSpend has informed INB that the depository accounts at INB for the NetSpend program supposedly contained $10.5 million less than they should. INB alleges that NetSpend has breached its fiduciary duty by making affirmative misrepresentations to INB about the safety and stability of the program, and by failing to timely disclose the nature and extent of any alleged shortfall in settlement of funds related to cardholder activity and the nature and extent of NetSpend’s systemic deficiencies in its accounting and settlement processing procedures. To the extent that an accounting reveals that there is an actual shortfall, INB alleges that MetaBank may be liable for portions or all of said sum due to the fact that funds have been transferred from INB to MetaBank, and thus MetaBank would have been unjustly enriched. The Bank is vigorously contesting this matter. In January 2014, NetSpend was granted summary judgment in this matter which is under appeal. Because the theory of liability against both NetSpend and the Bank is the same, the Bank views the NetSpend summary judgment as a positive in support of its position. An estimate of a range of reasonably possible loss cannot be made at this stage of the litigation because discovery is still being conducted.

The Bank was served, on October 14, 2016, with a lawsuit captioned Card Limited, LLC v. MetaBank dba Meta Payment Systems, Civil No. 2:16-cv-00980 in the United States District Court for the District of Utah. This action was initiated by a former prepaid program manager of the Bank, which was terminated by the Bank in fiscal year 2016. Card Limited alleges that after all of the programs were wound down, there were two accounts with a positive balance to which they are entitled. The Bank’s position is that Card Limited is not entitled to the funds contained in said accounts. The total amount to which Card Limited claims it is entitled is $4.0 million. The Bank intends to vigorously defend this claim. An estimate of a range of reasonably possible loss cannot be made at this stage of the litigation because discovery is still being conducted.

On February 9, 2018, the Bank’s AFS/IBEX division filed a lawsuit in the United States District Court for the Eastern District of New York captioned AFS/IBEX, a division of MetaBank v. Aegis Managing Agency Limited ("AMA"), Aegis Syndicate 1225 (together with AMA, the "Aegis defendants"), CRC Insurance Services, Inc. ("CRC"), and Transportation Underwriters, Inc. The suit was filed against commercial insurance underwriters and brokers that facilitated the issuance of commercial insurance policies to Red Hook Construction Group-II, LLC (“Red Hook”). The Bank’s position is that both CRC and Transportation Underwriters represented to the Bank that, upon cancellation of the insurance policies prior to their stated terms, any unearned premiums would be refunded. The Bank then provided insurance premium financing to Red Hook, and Red Hook executed a written premium finance agreement pursuant to which Red Hook assigned its rights to any unearned premiums to the Bank. After the policies were cancelled, the Aegis defendants failed to return the unearned insurance premiums totaling just over $1.6 million owed to the Bank under the insurance policies and the premium finance agreement. The Bank is seeking recovery of all amounts to which it is entitled at law or equity and intends to vigorously pursue its claims against the defendants.

The Bank was served on December 24, 2018, with a lawsuit captioned The Ohio Valley Bank Company v. MetaBank dba Refund Advantage, Case No. 18 CV 134 in the Court of Common Pleas, Gallia County, Ohio. This action alleges that MetaBank breached a contract with The Ohio Valley Bank Company by terminating the contract before the term expired, resulting in over $3.0 million in damages. The Bank intends to vigorously defend this claim. An estimate of a range of reasonably possible loss cannot be made at this stage of the litigation because discovery is still being conducted.

From time to time, the Company or its subsidiaries are subject to certain legal proceedings and claims in the ordinary course of business. Accruals have been recorded when the outcome is probable and can be reasonably estimated. While management currently believes that the ultimate outcome of these proceedings will not have a material adverse effect on the Company’s financial position or its results of operations, legal proceedings are inherently uncertain and unfavorable resolution of some or all of these matters could, individually or in the aggregate, have a material adverse effect on the Company’s and its subsidiaries’ respective businesses, financial condition or results of operations.
v3.10.0.1
REVENUE FROM CONTRACTS WITH CUSTOMERS
 3 Months Ended
Dec. 31, 2018
Revenue from Contract with Customer [Abstract]  
REVENUE FROM CONTRACTS WITH CUSTOMERS
REVENUE FROM CONTRACTS WITH CUSTOMERS

On October 1, 2018, the Company adopted ASC 606 on a modified retrospective basis. Prior period amounts have not been adjusted to reflect the adoption of ASC 606 and continue to be reported in accordance with the Company’s historical accounting policies. The impact of the Company’s adoption of ASC 606 was limited to the MPS division within the Payments reporting segment. Upon adoption, Meta recorded a cumulative-effect adjustment that increased retained earnings by $1.5 million, net of tax.

ASC 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 13. Segment Reporting to the Consolidated Financial Statements.
(Dollars in thousands)
Payments
 
Banking
 
Corporate Services/Other
 
Consolidated Company
Quarter Ended December 31,
2018
2017
 
2018
2017
 
2018
2017
 
2018
2017
Net interest income(1)
$
9,400

$
4,669

 
$
51,792

$
15,597

 
$
(920
)
$
5,930

 
$
60,272

$
26,196

Noninterest income:
 
 
 
 
 
 
 
 
 
 
 
Refund transfer product fees
261

192

 
—

—

 
—

—

 
261

192

Tax advance product fees(1)
1,685

1,947

 
—

—

 
—

—

 
1,685

1,947

Card fees
19,273

25,174

 
78

73

 
—

—

 
19,351

25,247

Rental income(1)
—

—

 
10,890

—

 
—

—

 
10,890

—

Loan and lease fees(1)
—

—

 
1,247

1,292

 
—

—

 
1,247

1,292

Bank-owned life insurance(1)
—

—

 
—

—

 
642

669

 
642

669

Deposit fees
1,534

728

 
404

120

 
—

—

 
1,938

848

Loss on sale of securities AFS(1)
—

—

 
—

—

 
(22
)
(1,010
)
 
(22
)
(1,010
)
Gain of loans and leases(1)
—

—

 
867

—

 
—

—

 
867

—

Gain (loss) on foreclosed real estate(1)
—

—

 
15

(19
)
 
—

—

 
15

(19
)
Other income(1)
73

60

 
768

19

 
36

23

 
877

102

Total noninterest income
22,826

28,101

 
14,269

1,485

 
656

(318
)
 
37,751

29,268

Revenue
$
32,226

$
32,770

 
$
66,061

$
17,082

 
$
(264
)
$
5,612

 
$
98,023

$
55,464

(1) These revenues are not within scope of ASC 606. Additional details are included in other footnotes to the accompanying financial statements. The scope of ASC 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 ASC 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.

Refund Transfer Product Fees
Refund transfer fees are specific to the tax products offered by Refund Advantage and EPS. These fees are for products, services such as payment processing, and product referral commissions. Software partner fees paid and/or incurred are recorded on a net basis. The Company’s obligation for product fees and commissions is satisfied at the time of the product delivery and obligation for payment processing is satisfied at the time of processing. The transaction price for such activity is based upon stand-alone fees within the terms and conditions. Receivables related to refund transfer fees, which reflect earned revenue with unconditional rights to payment for product fee income, were $113,935 and $827,039 as of December 31, 2018 and September 30, 2018, respectively. All refund transfer fees are recorded within the Payments reporting segment.


Card Fees
Card fees relate to MPS, retail bank, Refund Advantage and EPS products. These fees are for products and services such as card activation, product support, processing, and servicing. The Company earns these fees based upon the underlying terms and conditions with each cardholder over the contract term. Agreements with the Company’s cardholders are considered daily service contracts as they are not fixed in duration. The Company’s obligation for card activation and product support fees is satisfied at the time of product delivery, while the obligation for processing and servicing is satisfied over the course of each month. The transaction price for such activity is based upon the stand-alone fees within the terms and conditions of the cardholder agreements. Card fee revenue also includes income from sponsorships, associations and networks, and interchange income. Sponsorship income relates to fees charged to the Company’s ATM sponsorship partners, where the obligation is satisfied over the course of each month. Association and network income reflect incentives, performance bonuses and rebates with MasterCard and Visa. The obligation for such income is satisfied at the time when certain thresholds of transaction volume have been met. Interchange income is generated by cardholder activity, and therefore the Company’s obligations are satisfied as activity occurs. The transaction price for such activity is based on underlying rates and activity thresholds within the terms and conditions of the applicable agreements. Card fee revenue also includes breakage revenue. Breakage represents the estimated amount that will not be redeemed by the holder of unregistered, unused prepaid cards for goods or services. Breakage revenue is recognized ratably over the expected customer usage period and is an estimate based on cardholder behavior and breakage rates and is impacted by escheatment laws. Card fees are recorded within the Payments and Banking reporting segments.

Deposit Fees
Fees are earned on depository accounts for commercial and consumer customers and include fees for account services, overdraft services, safety deposit box rentals, and event-driven services (i.e. returned checks, ATM surcharge, card replacement, wire transfers, and stop pays). The Company’s obligation for event-driven services is satisfied at the time of the event when the service is delivered, while its obligation for account services is satisfied over the course of each month. The Company’s obligation for overdraft services is satisfied at the time of overdraft. The transaction price for such activity is based upon stand-alone fees within the terms and conditions of the deposit agreements. Deposit fees are recorded within the Payments and Banking reporting segment.

Principal vs Agent
The Payments reporting segment includes principal/agent relationships. Within this segment, MPS relationships are recorded on a gross basis within the income statement, as Meta is the principal in the contract, with the exception of association/network contracts and partner/processer contracts for prepaid cards, which are recorded on a net basis within the income statement as Meta is the agent in these contracts. Also within this segment, Tax service relationships are recorded on a gross basis within the income statement, as Meta is the principal in the contract, with the exception of contracts with software providers and merchants, which are recorded on a net basis within the income statement as Meta is the agent in these contracts.
v3.10.0.1
FAIR VALUE MEASUREMENTS
 3 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS

Accounting Standards Codification (“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 (1) quoted prices for similar instruments in active markets, (2) quoted prices for identical or similar instruments in markets that are not active and (3) 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.  Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques.

Debt Securities Available for Sale and Equity Securities.  Debt securities available for sale and equity securities are recorded at fair value on a recurring basis and securities held to maturity are carried at amortized cost.  Fair value measurement is based upon quoted prices, if available.  If quoted prices are not available, fair values are measured using an independent pricing service.  For both Level 1 and Level 2 securities, management uses various methods and techniques to corroborate prices obtained from the pricing service, including but not limited to reference to dealer or other market quotes, and by reviewing valuations of comparable instruments.  The Company’s Level 1 securities include equity securities and mutual funds.  Level 2 securities include U.S. Government agency and instrumentality securities, U.S. Government agency and instrumentality mortgage-backed securities, municipal bonds and corporate debt securities.  The Company had no Level 3 securities at December 31, 2018 or September 30, 2018.

The fair values of securities are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs), or valuation 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 2 inputs).  The Company considers these valuations supplied by a third party provider which utilizes several sources for valuing fixed-income securities.  These sources include Interactive Data Corporation, Reuters, Standard and Poor’s, Bloomberg Financial Markets, Street Software Technology, and the third party provider’s own matrix and desk pricing.  The Company, no less than annually, reviews the third party’s methods and source’s methodology for reasonableness and to ensure an understanding of inputs utilized in determining fair value.  Sources utilized by the third party provider include but are not limited to pricing models that vary based by asset class and include available trade, bid, and other market information.  This methodology includes but is not limited to broker quotes, proprietary models, descriptive terms and conditions databases, as well as extensive quality control programs. Monthly, the Company receives and compares prices provided by multiple securities dealers and pricing providers to validate the accuracy and reasonableness of prices received from the third party provider. On a monthly basis, the Investment Committee reviews mark-to-market changes in the securities portfolio for reasonableness.
 
The following table summarizes the fair values of debt securities available for sale and equity securities at December 31, 2018 and September 30, 2018, as they are measured at fair value on a recurring basis.
 
Fair Value At December 31, 2018
(Dollars in Thousands)
Total
 
Level 1
 
Level 2
 
Level 3
Debt securities AFS
 
 
 
 
 
 
 
Small business administration securities
$
94,056

 
$
—

 
$
94,056

 
$
—

Obligations of states and political subdivisions
14,950

 
—

 
14,950

 
—

Non-bank qualified obligations of states and political subdivisions
944,571

 
—

 
944,571

 
—

Asset-backed securities
287,293

 
—

 
287,293

 
—

Mortgage-backed securities
354,186

 
—

 
354,186

 
—

Total debt securities AFS
1,695,056

 
—

 
1,695,056

 
—

Common equities and mutual funds(1)(2)
$
3,837

 
$
3,837

 
$
—

 
$
—

(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.
(2) ASU 2016-01 adopted on October 1, 2018, on a prospective basis, removed equity securities from AFS category at December 31, 2018.
 
Fair Value At September 30, 2018
 
Available For Sale
 
(Dollars in Thousands)
Total
 
Level 1
 
Level 2
 
Level 3
 
Debt securities AFS
 
 
 
 
 
 
 
 
Small business administration securities
$
44,337

 
$
—

 
$
44,337

 
$
—

 
Obligations of states and political subdivisions
16,910

 
—

 
16,910

 
—

 
Non-bank qualified obligations of states and political subdivisions
1,109,885

 
—

 
1,109,885

 
—

 
Asset-backed securities
313,028

 
—

 
313,028

 
—

 
Mortgage-backed securities
364,065

 
—

 
364,065

 
—

 
Total debt securities AFS
1,848,225

 
—

 
1,848,225

 
—

 
Common equities and mutual funds(1)
3,800

 
3,800

 
—

 
—

 
Total securities
$
1,852,025

 
$
3,800

 
$
1,848,225

 
$
—

 

(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.

The Company did not transfer any AFS debt securities or equity securities between fair value hierarchy categories at December 31, 2018 or September 30, 2018.

Loans and Leases.  The Company does not record loans and leases at fair value on a recurring basis.  If a loan or lease is identified as individually impaired, management then measures impairment in accordance with ASC 310, Receivables. See Note 4 Loans and Leases, Net for further information.

The following table summarizes the assets of the Company that were measured at fair value in the consolidated statements of financial condition on a non-recurring basis as of December 31, 2018 and September 30, 2018.
 
Fair Value At December 31, 2018
(Dollars in Thousands)
Total
 
Level 1
 
Level 2
 
Level 3
Impaired Loans and Leases, net
 
 
 
 
 
 
 
Asset Based Lending
$
761

 
$
—

 
$
—

 
$
761

Factoring
724

 
—

 
—

 
724

Commercial finance
1,485

 
—

 
—

 
1,485

Total National Lending
1,485

 
—

 
—

 
1,485

     Total Impaired Loans and Leases
1,485

 
—

 
—

 
1,485

Foreclosed Assets, net
31,548

 
—

 
—

 
31,548

Total
$
33,033

 
$
—

 
$
—

 
$
33,033

 
Fair Value At September 30, 2018
(Dollars in Thousands)
Total
 
Level 1
 
Level 2
 
Level 3
Impaired loans and leases, net
 
 
 
 
 
 
 
Asset Based Lending
$
57

 
$
—

 
$
—

 
$
57

Factoring
1,899

 
—

 
—

 
1,899

Lease Financing
2,869

 
—

 
—

 
2,869

Commercial finance
4,825

 
—

 
—

 
4,825

Total National Lending
4,825

 
—

 
—

 
4,825

     Total impaired loans and leases
4,825

 
—

 
—

 
4,825

Foreclosed assets, net
31,638

 
—

 
—

 
31,638

Total
$
36,463

 
$
—

 
$
—

 
$
36,463


 
Quantitative Information About Level 3 Fair Value Measurements
(Dollars in Thousands)
Fair Value at
December 31, 2018
 
Fair Value at
September 30, 2018
 
Valuation
Technique
 
Unobservable Input
 
Range of Inputs
Impaired loans and leases, net
$
1,485

 
4,825

 
Market approach
 
Appraised values (1)
 
4.00 - 10.00%
Foreclosed Assets, net
$
31,548

 
31,638

 
Market approach
 
Appraised values (1)
 
4.00 - 10.00%
(1) 
The Company generally relies on external appraisers to develop this information. Management reduced the appraised value by estimating selling costs in a range of 4% to 10%.

The following table discloses the Company’s estimated fair value amounts of its financial instruments as of the dates set forth below.  It is management’s belief that the fair values presented below are reasonable based on the valuation techniques and data available to the Company as of December 31, 2018 and September 30, 2018, as more fully described below.  The operations of the Company are managed from a going concern basis and not a liquidation basis.  As a result, the ultimate value realized for the financial instruments presented could be substantially different when actually recognized over time through the normal course of operations.  Additionally, a substantial portion of the Company’s inherent value is the Bank’s capitalization and franchise value.  Neither of these components have been given consideration in the presentation of fair values below.

The following presents the carrying amount and estimated fair value of the financial instruments held by the Company at December 31, 2018 and September 30, 2018.
 
December 31, 2018
(Dollars in Thousands)
Carrying
Amount
 
Estimated
Fair Value
 
Level 1
 
Level 2
 
Level 3
Financial assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
164,169

 
$
164,169

 
$
164,169

 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
Debt securities available for sale
1,695,056

 
1,695,056

 
—

 
1,695,056

 
—

Debt securities held to maturity
160,736

 
151,590

 
—

 
151,590

 
—

Equity securities (1)
3,837

 
3,837

 
3,837

 
—

 
—

Total securities
1,859,629

 
1,850,483

 
3,837

 
1,846,646

 
—

 
 
 
 
 
 
 
 
 
 
Loans held for sale
33,560

 
33,560

 
—

 
33,560

 
—

 
 
 
 
 
 
 
 
 
 
Loans and leases:
 
 
 
 
 
 
 
 
 
Asset based lending
554,072

 
541,707

 
—

 
—

 
541,707

Factoring
284,912

 
281,731

 
—

 
—

 
281,731

Lease financing
290,889

 
291,205

 
—

 
—

 
291,205

Insurance premium finance
330,712

 
329,753

 
—

 
—

 
329,753

SBA/USDA
67,893

 
67,891

 
—

 
—

 
67,891

Other commercial finance
89,402

 
89,859

 
—

 
—

 
89,859

Commercial finance
1,617,880

 
1,602,146

 
—

 
—

 
1,602,146

Consumer credit products
96,144

 
95,310

 
—

 
—

 
95,310

Other consumer finance
182,510

 
178,616

 
—

 
—

 
178,616

Consumer finance
278,654

 
273,926

 
—

 
—

 
273,926

Tax services
76,575

 
76,568

 
—

 
—

 
76,568

Warehouse finance
176,134

 
173,488

 
—

 
—

 
173,488

Total National Lending
2,149,243

 
2,126,128

 
—

 
—

 
2,126,128

Commercial real estate and operating
863,753

 
849,384

 
—

 
—

 
849,384

Consumer one to four family real estate and other
256,341

 
252,230

 
—

 
—

 
252,230

Agricultural real estate and operating
58,971

 
56,906

 
—

 
—

 
56,906

Total Community Banking
1,179,065

 
1,158,520

 
—

 
—

 
1,158,520

Total loans and leases
3,328,308

 
3,284,648

 
—

 
—

 
3,284,648

 
 
 
 
 
 
 
 
 
 
Federal Home Loan Bank stock
15,600

 
15,600

 
—

 
15,600

 
—

Accrued interest receivable
22,076

 
22,076

 
22,076

 
—

 
—

 
 
 
 
 
 
 
 
 
 
Financial liabilities
 
 
 
 
 
 
 
 
 
Noninterest-bearing demand deposits
2,739,757

 
2,739,757

 
2,739,757

 
—

 
—

Interest-bearing demand deposits, savings, and money markets
235,450

 
235,450

 
235,450

 
—

 
—

Certificates of deposits
170,629

 
169,397

 
—

 
169,397

 
—

Wholesale non-maturing deposits
146,227

 
146,227

 
146,227

 
—

 
—

Wholesale certificates of deposits
1,644,384

 
1,640,910

 
—

 
1,640,910

 
—

Total deposits
4,936,447

 
4,931,741

 
3,121,434

 
1,810,307

 
—

 
 
 
 
 
 
 
 
 
 
Advances from Federal Home Loan Bank
—

 
—

 
—

 
—

 
—

Federal funds purchased
227,000

 
227,000

 
227,000

 
—

 
—

Securities sold under agreements to repurchase
4,226

 
4,226

 
—

 
4,226

 
—

Capital leases
1,860

 
1,860

 
—

 
1,860

 
—

Trust preferred securities
13,662

 
13,867

 
—

 
13,867

 
—

Subordinated debentures
73,528

 
75,000

 
—

 
75,000

 
—

Accrued interest payable
11,280

 
11,280

 
11,280

 
—

 
—

(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.
 
September 30, 2018
(Dollars in Thousands)
Carrying
Amount
 
Estimated
Fair Value
 
Level 1
 
Level 2
 
Level 3
Financial assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
99,977

 
$
99,977

 
$
99,977

 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
Securities available for sale
1,852,025

 
1,852,025

 
3,800

 
1,848,225

 
—

Securities held to maturity
172,154

 
160,974

 
—

 
160,974

 
—

Total securities
2,024,179

 
2,012,999

 
3,800

 
2,009,199

 
—

 
 
 
 
 
 
 
 
 
 
Loans held for sale
15,606

 
15,606

 
—

 
15,606

 
—

 
 
 
 
 
 
 
 
 
 
Loans and leases:
 
 
 
 
 
 
 
 
 
Asset based lending
477,917

 
477,471

 
—

 
—

 
477,471

Factoring
284,221

 
283,424

 
—

 
—

 
283,424

Lease financing
265,315

 
264,679

 
—

 
—

 
264,679

Insurance premium finance
337,877

 
337,212

 
—

 
—

 
337,212

SBA/USDA
59,374

 
61,072

 
—

 
—

 
61,072

Other commercial finance
85,145

 
83,111

 
—

 
—

 
83,111

Commercial finance
1,509,849

 
1,506,969

 
—

 
—

 
1,506,969

Consumer credit products
80,605

 
80,633

 
—

 
—

 
80,633

Other consumer finance
189,756

 
197,320

 
—

 
—

 
197,320

Consumer finance
270,361

 
277,953

 
—

 
—

 
277,953

Tax services
1,073

 
1,073

 
—

 
—

 
1,073

Warehouse finance
65,000

 
64,978

 
—

 
—

 
64,978

Total National Lending
1,846,283

 
1,850,973

 
—

 
—

 
1,850,973

Commercial real estate and operating
790,890

 
773,203

 
—

 
—

 
773,203

Consumer one to four family real estate and other
247,318

 
244,730

 
—

 
—

 
244,730

Agricultural real estate and operating
60,498

 
58,849

 
—

 
—

 
58,849

Total Community Banking
1,098,706

 
1,076,782

 
—

 
—

 
1,076,782

Total loans and leases
2,944,989

 
2,927,755

 
—

 
—

 
2,927,755

 
 
 
 
 
 
 
 
 
 
Federal Home Loan Bank stock
23,400

 
23,400

 
—

 
23,400

 
—

Accrued interest receivable
22,016

 
22,016

 
22,016

 
—

 
—

 
 
 
 
 
 
 
 
 
 
Financial liabilities
 
 
 
 
 
 
 
 
 
Noninterest-bearing demand deposits
2,405,274

 
2,405,274

 
2,405,274

 
—

 
—

Interest-bearing demand deposits, savings, and money markets
218,347

 
218,347

 
218,347

 
—

 
—

Certificates of deposits
276,180

 
273,800

 
—

 
273,800

 
—

Wholesale non-maturing deposits
94,384

 
94,384

 
94,384

 
—

 
—

Wholesale certificates of deposits
1,436,802

 
1,432,146

 
—

 
1,432,146

 
—

Total deposits
4,430,987

 
4,423,951

 
2,718,005

 
1,705,946

 
—

 
 
 
 
 
 
 
 
 
 
Advances from Federal Home Loan Bank
—

 
—

 
—

 
—

 
—

Federal funds purchased
422,000

 
422,000

 
422,000

 
—

 
—

Securities sold under agreements to repurchase
3,694

 
3,694

 
—

 
3,694

 
—

Capital leases
1,876

 
1,876

 
—

 
1,876

 
—

Trust preferred securities
13,661

 
13,866

 
—

 
13,866

 
—

Subordinated debentures
73,491

 
75,563

 
—

 
75,563

 
—

Accrued interest payable
7,794

 
7,794

 
7,794

 
—

 
—





The following sets forth the methods and assumptions used in determining the fair value estimates for the Company’s financial instruments at December 31, 2018 and September 30, 2018.
 
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
Debt securities available for sale and equity securities are recorded at fair value on a recurring basis. Fair values for these investment securities are based on obtaining quoted prices 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.

LOANS HELD FOR SALE
The carrying amount of loans held for sale is assumed to approximate the fair value.

LOANS AND LEASES, NET
Upon adoption of ASU 2016-01, the fair value 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. In comparison, loan and lease fair values as of September 30, 2018 were estimated on an entrance price methodology, which discounts future cash flows using the then-current rates at which a similar loan would be made to borrowers with similar credit ratings and for the same remaining maturities. The fair value of non-impaired loans and leases as of December 31, 2018 and September 30, 2018 are not comparable.

FEDERAL HOME LOAN BANK (“FHLB”) STOCK
The fair value of 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
The carrying values of noninterest-bearing checking deposits, interest-bearing checking deposits, savings, money markets, and wholesale non-maturing deposits are assumed to approximate fair value since deposits are immediately withdrawable without penalty. The fair value of time certificate deposits and wholesale certificate deposits are estimated using a discounted cash flows calculation that applies the FHLB Des Moines curve to aggregated expected maturities of time deposits. In accordance with ASC 825, Financial Instruments, no value has been assigned to the Company’s long-term relationships with its deposit customers (core value of deposits intangible) since such intangible is not a financial instrument as defined under ASC 825.
 
ADVANCES FROM FHLB
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.
 
FEDERAL FUNDS PURCHASED
The carrying amount of federal funds purchased is assumed to approximate the fair value.
 
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND SUBORDINATED DEBENTURES
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.
v3.10.0.1
SEGMENT REPORTING
 3 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
SSEGMENT REPORTING
SEGMENT REPORTING

An operating segment is generally defined as a component of a business for which discrete financial information is available and whose results are reviewed by the chief operating decision-maker. Operating segments are aggregated into reportable segments if certain criteria are met.

The Company reports its results of operations through the following three business segments: Payments, Banking, and Corporate Services/Other. The Meta Payment Systems and Tax Services divisions are reported in the Payments segment. The Community Banking, Commercial Finance and Consumer Finance divisions are reported in the Banking segment. Certain shared services, including the investment portfolio, wholesale deposits and borrowings, are included in Corporate Services/Other.

The following tables present segment data for the Company for the three months ended December 31, 2018 and 2017, respectively.
 
Payments
 
Banking
 
Corporate
Services/Other
 
Total
Three Months Ended December 31, 2018
 
 
 
 
 
 
 
Net interest income (loss)
$
9,400

 
$
51,792

 
$
(920
)
 
$
60,272

Provision for loan and lease losses
1,495

 
7,604

 
—

 
9,099

Noninterest income
22,826

 
14,269

 
656

 
37,751

Noninterest expense
21,362

 
33,843

 
19,090

 
74,295

Income (loss) before income tax expense (benefit)
9,369

 
24,614

 
(19,354
)
 
14,629

 
 
 
 
 
 
 
 
Total assets
302,368

 
3,793,647

 
2,086,750

 
6,182,765

Total goodwill
87,145

 
216,125

 
—

 
303,270

Total deposits
2,753,702

 
554,939

 
1,627,806

 
4,936,447

 
 
 
 
 
 
 
 
 
Payments
 
Banking
 
Corporate
Services/Other
 
Total
Three Months Ended December 31, 2017
 
 
 
 
 
 
 
Net interest income
$
4,669

 
$
15,597

 
$
5,930

 
$
26,196

Provision for loan losses
1,017

 
51

 
—

 
1,068

Noninterest income
28,101

 
1,485

 
(318
)
 
29,268

Noninterest expense
26,934

 
6,568

 
10,540

 
44,042

Income (loss) before income tax expense (benefit)
4,819

 
10,463

 
(4,928
)
 
10,354

 
 
 
 
 
 
 
 
Total assets
380,442

 
1,478,693

 
3,558,828

 
5,417,963

Total goodwill
87,145

 
11,578

 
—

 
98,723

Total deposits
2,768,736

 
236,494

 
508,415

 
3,513,645

 
 
 
 
 
 
 
 
v3.10.0.1
SUBSEQUENT EVENTS
 3 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS

As previously disclosed, J. Tyler Haahr stepped down as Chief Executive Officer of the Company and MetaBank effective as of October 30, 2018 and assumed the role of Non-Executive Chairman of each of the Boards of Directors of the Company and MetaBank (together, the “Boards”). The Company entered into a Transition and General Release Agreement (the “Transition Agreement”) with Mr. Haahr as of January 16, 2019. The Transition Agreement provided for Mr. Haahr's continued service as Non-Executive Chairman of the Boards and as an employee of the Company and MetaBank until the date of the Company’s Annual Meeting of Stockholders, which was held on January 30, 2019 (the “Annual Meeting”). The Transition Agreement also provided for, among other things, the Company's payment to Mr. Haahr a lump sum payment in cash, accelerated vesting of certain equity awards, and the continued vesting of certain other equity awards, resulting in $6.1 million in compensation expense which the Company will incur in the second quarter of fiscal year 2019. Effective as of the date of the Annual Meeting, Mr. Haahr’s employment with the Company and MetaBank terminated, and he has been deemed to have resigned as a director of the Company and MetaBank and from all other offices and positions with the Company, MetaBank and their affiliates.
v3.10.0.1
LOANS AND LEASES, NET (Tables)
 3 Months Ended
Dec. 31, 2018
Loans and Leases Receivable Disclosure [Abstract]  
Sales-type Lease, Lease Income
The net investment in direct financing and sales-type leases is comprised of the following as of December 31, 2018 and September 30, 2018.
 
December 31, 2018
 
September 30, 2018
 
(Dollars in Thousands)
Minimum lease payments receivable
$
330,273

 
$
301,835

Estimated residual value of leased equipment
12,460

 
12,406

Unamortized initial direct costs
(9
)
 
(3
)
Premium on acquired leases
16

 
26

Unearned income
(51,851
)
 
(48,949
)
Net investment in direct financing and sales-type leases
$
290,889

 
$
265,315
Sales-type and Direct Financing Leases, Lease Receivable, Maturity
Future minimum lease payments receivable on noncancelable direct financing and sales-type leases were as follows as of December 31, 2018.
 
As of December 31, 2018
 
(Dollars in thousands)
2019
$
92,158

2020
96,326

2021
73,057

2022
43,861

2023
21,037

2024 and thereafter
3,834

Total
$
330,273
Schedule of Loans Receivable
Loans and leases at December 31, 2018 and September 30, 2018 were as follows:
(Dollars in Thousands)
December 31, 2018
 
September 30, 2018
National Lending
 
 
 
Asset based lending
$
554,072

 
$
477,917

Factoring
284,912

 
284,221

Lease financing
290,889

 
265,315

Insurance premium finance
330,712

 
337,877

SBA/USDA
67,893

 
59,374

Other commercial finance
89,402

 
85,145

Commercial finance
1,617,880

 
1,509,849

Consumer credit products
96,144

 
80,605

Other consumer finance
182,510

 
189,756

Consumer finance(1)
278,654

 
270,361

Tax services
76,575

 
1,073

Warehouse finance(1)
176,134

 
65,000

Total National Lending
2,149,243

 
1,846,283

Community Banking
 
 
 
Commercial real estate and operating
863,753

 
790,890

Consumer one-to-four family real estate and other
256,341

 
247,318

Agricultural real estate and operating
58,971

 
60,498

Total Community Banking
1,179,065

 
1,098,706

Total gross loans and leases
3,328,308

 
2,944,989

 
 
 
 
Allowance for loan and lease losses
(21,290
)
 
(13,040
)
Net deferred loan origination fees (costs)
1,190

 
(250
)
Total loans and leases, net(2)
$
3,308,208

 
$
2,931,699


(1) Warehouse finance loans are presented in their own line. Previously these balances were included with consumer finance loans. Prior period balances have also been adjusted to reflect this change.
(2) As of December 31, 2018, the remaining balance of acquired loans and leases from the Crestmark acquisition was $889.0 million and the remaining balances of the credit and interest rate mark discounts related to the acquired loans and leases were $10.1 million and $4.8 million, respectively. On August 1, 2018, the Company acquired loans and leases from the Crestmark acquisition totaling $1.06 billion and recorded related credit and interest rate mark discounts of $12.3 million and $6.0 million, respectively.
Annual Activity in Allowance for Loan Losses, Allowance for Loan Losses and Recorded Investment in Loans
 
Allowance
 
Loans and Leases
Recorded Investment
Ending balance: individually evaluated for impairment
 
Ending balance: collectively evaluated for impairment
 
Total
 
Ending balance: individually evaluated for impairment
 
Ending balance: collectively evaluated for impairment
 
Total
As of December 31, 2018
(Dollars in Thousands)
National Lending
 
 
 
 
 
 
 
 
 
 
 
Asset based lending
$
—

 
$
2,065

 
$
2,065

 
$
2,371

 
$
551,701

 
$
554,072

Factoring
134

 
928

 
1,062

 
1,680

 
283,232

 
284,912

Lease financing
—

 
1,084

 
1,084

 
5,000

 
285,889

 
290,889

Insurance premium finance
—

 
972

 
972

 
—

 
330,712

 
330,712

SBA/USDA
—

 
253

 
253

 
—

 
67,893

 
67,893

Other commercial finance
—

 
291

 
291

 
—

 
89,402

 
89,402

Commercial finance
134

 
5,593

 
5,727

 
9,051

 
1,608,829

 
1,617,880

Consumer credit products
—

 
1,151

 
1,151

 
—

 
96,144

 
96,144

Other consumer finance
—

 
4,222

 
4,222

 
—

 
182,510

 
182,510

Consumer finance
—

 
5,373

 
5,373

 
—

 
278,654

 
278,654

Tax services
—

 
1,546

 
1,546

 
—

 
76,575

 
76,575

Warehouse finance
—

 
176

 
176

 
—

 
176,134

 
176,134

Total National Lending
134

 
12,688

 
12,822

 
9,051

 
2,140,192

 
2,149,243

Community Banking
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate and operating
—

 
6,570

 
6,570

 
402

 
863,351

 
863,753

Consumer one-to-four family real estate and other
—

 
719

 
719

 
138

 
256,203

 
256,341

Agricultural real estate and operating
—

 
1,179

 
1,179

 
1,511

 
57,460

 
58,971

Total Community Banking
—

 
8,468

 
8,468

 
2,051

 
1,177,014

 
1,179,065

Total
$
134

 
$
21,156

 
$
21,290

 
$
11,102

 
$
3,317,206

 
$
3,328,308


 
Allowance
 
Loans and Leases
Recorded Investment
Ending balance: individually evaluated for impairment(1)
 
Ending balance: collectively evaluated for impairment(1)
 
Total
 
Ending balance: individually evaluated for impairment
 
Ending balance: collectively evaluated for impairment
 
Total
As of September 30, 2018
(Dollars in Thousands)
National Lending
 
 
 
 
 
 
 
 
 
 
 
Asset based lending
$
—

 
$
107

 
$
107

 
$
1,404

 
$
476,513

 
$
477,917

Factoring
—

 
64

 
64

 
3,331

 
280,890

 
284,221

Lease financing
—

 
59

 
59

 
8,877

 
256,438

 
265,315

Insurance premium finance
—

 
1,031

 
1,031

 
—

 
337,877

 
337,877

SBA/USDA
—

 
13

 
13

 
—

 
59,374

 
59,374

Other commercial finance
—

 
28

 
28

 
—

 
85,145

 
85,145

Commercial finance
—

 
1,302

 
1,302

 
13,612

 
1,496,237

 
1,509,849

Consumer credit products
—

 
785

 
785

 
—

 
80,605

 
80,605

Other consumer finance
—

 
2,820

 
2,820

 
—

 
189,756

 
189,756

Consumer finance
—

 
3,605

 
3,605

 
—

 
270,361

 
270,361

Tax services
—

 
—

 
—

 
—

 
1,073

 
1,073

Warehouse finance
—

 
65

 
65

 
—

 
65,000

 
65,000

Total National Lending
—

 
4,972

 
4,972

 
13,612

 
1,832,671

 
1,846,283

Community Banking
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate and operating
—

 
6,220

 
6,220

 
451

 
790,439

 
790,890

Consumer one-to-four family real estate and other
—

 
632

 
632

 
94

 
247,224

 
247,318

Agricultural real estate and operating
—

 
1,216

 
1,216

 
1,454

 
59,044

 
60,498

Total Community Banking
—

 
8,068

 
8,068

 
1,999

 
1,096,707

 
1,098,706

Total
$
—

 
$
13,040

 
$
13,040

 
$
15,611

 
$
2,929,378

 
$
2,944,989

(1) Balances have been restated from what was previously reported as of September 30, 2018 on the Company's Annual Report on Form 10-K for its fiscal year ended September 30, 2018.
Asset Classification of Loans
The asset classification of loans and leases at December 31, 2018 and September 30, 2018 were as follows:

Asset Classification
Pass
 
Watch
 
Special Mention
 
Substandard
 
Total
December 31, 2018
(Dollars in Thousands)
 
National Lending
 
 
 
 
 
 
 
 
 
Asset based lending
$
498,694

 
$
—

 
$
53,007

 
$
2,371

 
554,072

Factoring
244,992

 
—

 
38,240

 
1,680

 
284,912

Lease financing
284,239

 
—

 
1,650

 
5,000

 
290,889

Insurance premium finance
329,131

 
—

 
1,581

 
—

 
330,712

SBA/USDA
53,539

 
—

 
14,354

 
—

 
67,893

Other commercial finance
89,049

 
—

 
353

 
—

 
89,402

Commercial finance
1,499,644

 
—

 
109,185

 
9,051

 
1,617,880

Consumer credit products
96,144

 
—

 
—

 
—

 
96,144

Other consumer finance
182,510

 
—

 
—

 
—

 
182,510

Consumer finance
278,654

 
—

 
—

 
—

 
278,654

Tax services
76,575

 
—

 
—

 
—

 
76,575

Warehouse finance
176,134

 
—

 
—

 
—

 
176,134

Total National Lending
2,031,007

 
—

 
109,185

 
9,051

 
2,149,243

Community Banking
 
 
 
 
 
 
 
 
 
Commercial real estate and operating
848,456

 
15,297

 
—

 
—

 
863,753

Consumer one-to-four family real estate and other
254,458

 
1,496

 
308

 
79

 
256,341

Agricultural real estate and operating
40,558

 
1,590

 
4,836

 
11,987

 
58,971

Total Community Banking
1,143,472

 
18,383

 
5,144

 
12,066

 
1,179,065

Total loans and leases
$
3,174,479

 
$
18,383

 
$
114,329

 
$
21,117

 
$
3,328,308



Asset Classification
Pass
 
Watch
 
Special Mention
 
Substandard
 
Total
September 30, 2018
(Dollars in Thousands)
 
National Lending
 
 
 
 
 
 
 
 
 
Asset based lending
$
418,635

 
$
—

 
$
57,877

 
$
1,405

 
$
477,917

Factoring
248,246

 
—

 
32,644

 
3,331

 
284,221

Lease financing
252,487

 
—

 
3,951

 
8,877

 
265,315

Insurance premium finance
336,296

 
—

 
1,581

 
—

 
337,877

SBA/USDA
39,093

 
—

 
20,281

 
—

 
59,374

Other commercial finance
85,145

 
—

 
—

 
—

 
85,145

Commercial finance
1,379,902

 
—

 
116,334

 
13,613

 
1,509,849

Consumer credit products
80,605

 
—

 
—

 
—

 
80,605

Other consumer finance
189,756

 
—

 
—

 
—

 
189,756

Consumer finance
270,361

 
—

 
—

 
—

 
270,361

Tax services
1,073

 
—

 
—

 
—

 
1,073

Warehouse finance
65,000

 
—

 
—

 
—

 
65,000

Total National Lending
1,716,336

 
—

 
116,334

 
13,613

 
1,846,283

Community Banking
 
 
 
 
 
 
 
 
 
Commercial real estate and operating
778,445

 
12,251

 
194

 
—

 
790,890

Consumer one-to-four family real estate and other
246,463

 
537

 
239

 
79

 
247,318

Agricultural real estate and operating
42,292

 
2,447

 
4,872

 
10,887

 
60,498

Total Community Banking
1,067,200

 
15,235

 
5,305

 
10,966

 
1,098,706

Total loans and leases
$
2,783,536

 
$
15,235

 
$
121,639

 
$
24,579

 
$
2,944,989
Past Due Loans
Past due loans and leases at December 31, 2018 and September 30, 2018 were as follows:
 
Accruing and Non-accruing Loans and Leases
 
Non-performing Loans and Leases
Past Due Loans and Leases
30-59 Days
Past Due
 
60-89 Days
Past Due
 
>
89 Days Past Due
 
Total Past
Due
 
Current
 
Total Loans and Leases
Receivable
 
> 89 Days Past Due and Accruing
 
Non-accrual balance
 
Total
December 31, 2018
(Dollars in Thousands)
National Lending
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset based lending
$
739

 
$
—

 
$
336

 
$
1,075

 
$
552,997

 
$
554,072

 
$
—

 
$
1,007

 
$
1,007

Factoring
—

 
—

 
—

 
—

 
284,912

 
284,912

 
—

 
307

 
307

Lease financing
9,685

 
4,205

 
5,259

 
19,149

 
271,740

 
290,889

 
1,335

 
4,841

 
6,176

Insurance premium finance
1,579

 
789

 
2,796

 
5,164

 
325,548

 
330,712

 
2,796

 
—

 
2,796

SBA/USDA
483

 
—

 
—

 
483

 
67,410

 
67,893

 
—

 
—

 
—

Other commercial finance
—

 
—

 
—

 
—

 
89,402

 
89,402

 
—

 
—

 
—

Commercial finance
12,486

 
4,994

 
8,391

 
25,871

 
1,592,009

 
1,617,880

 
4,131

 
6,155

 
10,286

Consumer credit products
701

 
369

 
310

 
1,380

 
94,764

 
96,144

 
310

 
—

 
310

Other consumer finance
2,879

 
1,497

 
3,196

 
7,572

 
174,938

 
182,510

 
3,196

 
—

 
3,196

Consumer finance
3,580

 
1,866

 
3,506

 
8,952

 
269,702

 
278,654

 
3,506

 
—

 
3,506

Tax services
—

 
—

 
—

 
—

 
76,575

 
76,575

 
—

 
—

 
—

Warehouse finance
—

 
—

 
—

 
—

 
176,134

 
176,134

 
—

 
—

 
—

Total National Lending
16,066

 
6,860

 
11,897

 
34,823

 
2,114,420

 
2,149,243

 
7,637

 
6,155

 
13,792

Community Banking
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate and operating
25

 
—

 
—

 
25

 
863,728

 
863,753

 
—

 
—

 
—

Consumer one-to-four family real estate and other
67

 
20

 
79

 
166

 
256,175

 
256,341

 
79

 
—

 
79

Agricultural real estate and operating
—

 
—

 
—

 
—

 
58,971

 
58,971

 
—

 
—

 
—

Total Community Banking
92

 
20

 
79

 
191

 
1,178,874

 
1,179,065

 
79

 
—

 
79

Total Loans and Leases
$
16,158

 
$
6,880

 
$
11,976

 
$
35,014

 
$
3,293,294

 
$
3,328,308

 
$
7,716

 
$
6,155

 
$
13,871


 
Accruing and Non-accruing Loans and Leases
 
Non-performing Loans and Leases
Past Due Loans and Leases
30-59 Days
Past Due
 
60-89 Days
Past Due
 
>
89 Days Past Due
 
Total Past
Due
 
Current
 
Total Loans and Leases
Receivable
 
> 89 Days Past Due and Accruing
 
Non-accrual balance
 
Total
September 30, 2018
(Dollars in Thousands)
National Lending
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset based lending
$
1,235

 
$
2,151

 
$
94

 
$
3,480

 
$
474,437

 
$
477,917

 
$
94

 
$
—

 
$
94

Factoring
—

 
—

 
—

 
—

 
284,221

 
284,221

 
—

 
—

 
—

Lease financing
16,542

 
532

 
2,921

 
19,995

 
245,320

 
265,315

 
726

 
2,864

 
3,590

Insurance premium finance
1,864

 
1,019

 
2,981

 
5,864

 
332,013

 
337,877

 
2,981

 
—

 
2,981

SBA/USDA
1,067

 
—

 
—

 
1,067

 
58,307

 
59,374

 
—

 
—

 
—

Other commercial finance
—

 
—

 
—

 
—

 
85,145

 
85,145

 
—

 
—

 
—

Commercial finance
20,708

 
3,702

 
5,996

 
30,406

 
1,479,443

 
1,509,849

 
3,801

 
2,864

 
6,665

Consumer credit products
532

 
284

 
147

 
963

 
79,642

 
80,605

 
147

 
—

 
147

Other consumer finance
2,677

 
1,311

 
2,237

 
6,225

 
183,531

 
189,756

 
2,237

 
—

 
2,237

Consumer finance
3,209

 
1,595

 
2,384

 
7,188

 
263,173

 
270,361

 
2,384

 
—

 
2,384

Tax services
—

 
—

 
1,073

 
1,073

 
—

 
1,073

 
1,073

 
—

 
1,073

Warehouse finance
—

 
—

 
—

 
—

 
65,000

 
65,000

 
—

 
—

 
—

Total National Lending
23,917

 
5,297

 
9,453

 
38,667

 
1,807,616

 
1,846,283

 
7,258

 
2,864

 
10,122

Community Banking
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate and operating
—

 
—

 
—

 
—

 
790,890

 
790,890

 
—

 
—

 
—

Consumer one-to-four family real estate and other
105

 
—

 
79

 
184

 
247,134

 
247,318

 
79

 
—

 
79

Agricultural real estate and operating
—

 
—

 
—

 
—

 
60,498

 
60,498

 
—

 
—

 
—

Total Community Banking
105

 
—

 
79

 
184

 
1,098,522

 
1,098,706

 
79

 
—

 
79

Total Loans and Leases
$
24,022

 
$
5,297

 
$
9,532

 
$
38,851

 
$
2,906,138

 
$
2,944,989

 
$
7,337

 
$
2,864

 
$
10,201
Impaired Loans
Impaired loans and leases at December 31, 2018 and September 30, 2018 were as follows:

December 31, 2018
Recorded
Balance
 
Unpaid Principal
Balance
 
Specific
Allowance
Loans and leases without a specific valuation allowance
(Dollars in Thousands)
National Lending
 
 
 
 
 
Asset based lending
$
2,371

 
$
2,871

 
$
—

Factoring
885

 
1,453

 
—

Lease financing
5,000

 
5,000

 
—

Commercial finance
8,256

 
9,324

 
—

Total National Lending
8,256

 
9,324

 
—

Community Banking
 
 
 
 
 
Commercial real estate and operating
402

 
402

 
—

Consumer one-to-four family real estate and other
138

 
138

 
—

Agricultural real estate and operating
1,511

 
1,511

 
—

Total Community Banking
2,051

 
2,051

 
—

Total
$
10,307

 
$
11,375

 
$
—

Loans and leases with a specific valuation allowance
 
 
 
 
 
National Lending
 
 
 
 
 
Factoring
$
795

 
$
795

 
$
134

Commercial finance
795

 
795

 
134

Total National Lending
795

 
795

 
134

Total
$
795

 
$
795

 
$
134


September 30, 2018
Recorded
Balance
 
Unpaid Principal
Balance
 
Specific
Allowance
Loans and leases without a specific valuation allowance
(Dollars in Thousands)
National Lending
 
 
 
 
 
Asset based lending
$
1,325

 
$
1,325

 
$
—

Factoring
1,383

 
1,713

 
—

Lease financing
5,491

 
5,491

 
—

Commercial finance
8,199

 
8,529

 
—

Total National Lending
8,199

 
8,529

 
—

Community Banking
405

 
405

 
—

Commercial real estate and operating
140

 
140

 
—

Consumer one-to-four family real estate and other
1,454

 
1,454

 
—

Agricultural real estate and operating
1,999

 
1,999

 
—

Total
$
10,198

 
$
10,528

 
$
—

Loans and leases with a specific valuation allowance
 
 
 
 
 
National Lending
 
 
 
 
 
Asset based lending
$
79

 
$
79

 
$
22

Factoring
1,948

 
2,198

 
49

Lease financing
3,386

 
3,386

 
517

Commercial finance
5,413

 
5,663

 
588

Total National Lending
5,413

 
5,663

 
588

Total
$
5,413

 
$
5,413

 
$
588

The following table provides the average recorded investment in impaired loans and leases for the three month periods ended December 31, 2018 and 2017.
 
December 31, 2018
 
December 31, 2017
 
Average
Recorded
Investment
 
Recognized Interest Income
 
Average
Recorded
Investment
 
Recognized Interest Income
 
(Dollars in Thousands)
National Lending
 
 
 
 
 
 
 
Asset based lending
$
1,726

 
$
79

 
$
—

 
$
—

Factoring
2,780

 
5

 
—

 
—

Lease financing
7,585

 
10

 
—

 
—

Commercial finance
12,091

 
94

 
—

 
—

Total National Lending
12,091

 
94

 
—

 
—

Community Banking
 
 
 
 
 
 
 
Commercial real estate and operating
404

 
4

 
975

 
5

Consumer one-to-four family real estate and other
139

 
2

 
100

 
2

Agricultural real estate and operating
1,473

 
25

 
351

 
14

Total Community Banking
2,016

 
31

 
1,426

 
21

Total loans and leases
$
14,107

 
$
125

 
$
1,426

 
$
21
v3.10.0.1
EARNINGS PER COMMON SHARE (Tables)
 3 Months Ended
Dec. 31, 2018
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 for the three months ended December 31, 2018 and 2017 is presented below.
Three Months Ended December 31,
2018
 
2017
(Dollars in Thousands, Except Share and Per Share Data)
 
 
 
Basic income per common share:
 
 
 
     Net income attributable to Meta Financial Group, Inc.
$
15,398

 
$
4,670

Weighted average common shares outstanding
39,335,054

 
28,970,334

     Basic income per common share
0.39

 
0.16

 
 
 
 
Diluted income per common share:
 
 
 
     Net income attributable to Meta Financial Group, Inc.
$
15,398

 
$
4,670

Weighted average common shares outstanding
39,335,054

 
28,970,334

     Outstanding options - based upon the two-class method
71,453

 
168,189

Weighted average diluted common shares outstanding
39,406,507

 
29,138,523

     Diluted income per common share
0.39

 
0.16

 
 
 
 
v3.10.0.1
SECURITIES (Tables)
 3 Months Ended
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Securities Available for Sale
The amortized cost, gross unrealized gains and losses and estimated fair values of available for sale ("AFS") and held to maturity ("HTM") debt securities at December 31, 2018 and September 30, 2018 are presented below.
At December 31, 2018
AMORTIZED
COST
 
GROSS
UNREALIZED
GAINS
 
GROSS
UNREALIZED
(LOSSES)
 
FAIR
VALUE
 
(Dollars in Thousands)
Debt securities AFS
 
 
 
 
 
 
 
Small business administration securities
$
94,242

 
$
165

 
$
(351
)
 
$
94,056

Obligations of states and political subdivisions
15,023

 
73

 
(146
)
 
14,950

Non-bank qualified obligations of states and political subdivisions
970,288

 
2,787

 
(28,504
)
 
944,571

Asset-backed securities
287,247

 
1,261

 
(1,215
)
 
287,293

Mortgage-backed securities
366,467

 
157

 
(12,438
)
 
354,186

Total debt securities AFS
$
1,733,267

 
$
4,443

 
$
(42,654
)
 
$
1,695,056

Common equities and mutual funds(1)(2)
$
3,494

 
$
357

 
$
(14
)
 
$
3,837

(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.
(2) ASU 2016-01 adopted on October 1, 2018, on a prospective basis, removed equity securities from AFS category at December 31, 2018.

At September 30, 2018
AMORTIZED
COST
 
GROSS
UNREALIZED
GAINS
 
GROSS
UNREALIZED
(LOSSES)
 
FAIR
VALUE
 
(Dollars in Thousands)
Debt securities AFS
 
 
 
 
 
 
 
Small business administration securities
$
45,591

 
$
1

 
$
(1,255
)
 
$
44,337

  Obligations of states and political subdivisions
17,154

 
49

 
(293
)
 
16,910

Non-bank qualified obligations of states and political subdivisions
1,140,884

 
826

 
(31,825
)
 
1,109,885

Asset-backed securities
310,700

 
2,585

 
(257
)
 
313,028

Mortgage-backed securities
378,301

 
—

 
(14,236
)
 
364,065

Total debt securities AFS
$
1,892,630

 
$
3,461

 
$
(47,866
)
 
$
1,848,225

Common equities and mutual funds(1)
3,172

 
635

 
(7
)
 
3,800

Total AFS securities(1)
$
1,895,802

 
$
4,096

 
$
(47,873
)
 
$
1,852,025


(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.
Securities Held to Maturity

Held to Maturity
 
 
 
 
 
 
 
At December 31, 2018
AMORTIZED
COST
 
GROSS
UNREALIZED
GAINS
 
GROSS
UNREALIZED
(LOSSES)
 
FAIR
VALUE
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
153,075

 
$
—

 
$
(8,820
)
 
$
144,255

Mortgage-backed securities
7,661

 
—

 
(326
)
 
7,335

Total held to maturity securities
$
160,736

 
$
—

 
$
(9,146
)
 
$
151,590

At September 30, 2018
AMORTIZED
COST
 
GROSS
UNREALIZED
GAINS
 
GROSS
UNREALIZED
(LOSSES)
 
FAIR
VALUE
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
163,893

 
$
—

 
$
(10,758
)
 
$
153,135

Mortgage-backed securities
7,850

 
—

 
(422
)
 
7,428

Total held to maturity securities
$
171,743

 
$
—

 
$
(11,180
)
 
$
160,563
Debt Securities, Trading, and Equity Securities, FV-NI
Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2018 and September 30, 2018, were as follows:
 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At December 31, 2018
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities AFS
 
 
 
 
 
 
 
 
 
 
 
Small business administration securities
$
—

 
$
—

 
$
28,318

 
$
(351
)
 
$
28,318

 
$
(351
)
Obligations of states and political subdivisions
2,089

 
(6
)
 
7,198

 
(140
)
 
9,287

 
(146
)
Non-bank qualified obligations of states and political subdivisions
112,208

 
(2,443
)
 
525,831

 
(26,061
)
 
638,039

 
(28,504
)
Asset-backed securities
162,550

 
(1,215
)
 
—

 
—

 
162,550

 
(1,215
)
Mortgage-backed securities
4,063

 
(16
)
 
321,021

 
(12,422
)
 
325,084

 
(12,438
)
Total debt securities AFS
$
280,910

 
$
(3,680
)
 
$
882,368

 
$
(38,974
)
 
$
1,163,278

 
$
(42,654
)
Common equities and mutual funds(1)(2)
2,001

 
(14
)
 
—

 
—

 
2,001

 
(14
)
(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.
(2) ASU 2016-01 adopted on October 1, 2018, on a prospective basis, removed equity securities from AFS category at December 31, 2018.

 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At September 30, 2018
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities AFS
 
 
 
 
 
 
 
 
 
 
 
Small Business Administration securities
$
43,097

 
$
(1,255
)
 
$
—

 
$
—

 
$
43,097

 
$
(1,255
)
Obligations of state and political subdivisions
11,036

 
(279
)
 
881

 
(14
)
 
11,917

 
(293
)
Non-bank qualified obligations of states and political subdivisions
626,693

 
(13,539
)
 
358,095

 
(18,286
)
 
984,788

 
(31,825
)
Asset-backed securities
146,638

 
(257
)
 
—

 
—

 
146,638

 
(257
)
Mortgage-backed securities
121,217

 
(3,292
)
 
242,849

 
(10,944
)
 
364,066

 
(14,236
)
Total debt securities AFS
$
948,681

 
$
(18,622
)
 
$
601,825

 
$
(29,244
)
 
$
1,550,506

 
$
(47,866
)
Common equities and mutual funds(1)
1,818

 
(7
)
 
—

 
—

 
1,818

 
(7
)
Total debt AFS securities(1)
$
950,499

 
$
(18,629
)
 
$
601,825

 
$
(29,244
)
 
$
1,552,324

 
$
(47,873
)

(1)Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.
Schedule of Unrealized Loss on Investments
Held To Maturity
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At December 31, 2018
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
—

 
$
—

 
$
144,255

 
$
(8,820
)
 
$
144,255

 
$
(8,820
)
Mortgage-backed securities
—

 
—

 
7,335

 
(326
)
 
7,335

 
(326
)
Total held to maturity securities
$
—

 
$
—

 
$
151,590

 
$
(9,146
)
 
$
151,590

 
$
(9,146
)

 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At September 30, 2018
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
5,767

 
$
(287
)
 
$
147,368

 
$
(10,471
)
 
$
153,135

 
$
(10,758
)
Mortgage-backed securities
—

 
—

 
7,428

 
(422
)
 
7,428

 
(422
)
Total held to maturity securities
$
5,767

 
$
(287
)
 
$
154,796

 
$
(10,893
)
 
$
160,563

 
$
(11,180
)
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity
The amortized cost and fair value of debt securities by contractual maturity as of the dates set forth below 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 mortgage-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.  Therefore, mortgage-backed securities are not included in the maturity categories in the following maturity summary.  The expected maturities of certain housing related municipal securities, Small Business Administration and asset-backed securities may differ from contractual maturities because the borrowers may have the right to prepay the obligation. However, certain prepayment penalties may apply.
Securities at Fair Value
AMORTIZED
COST
 
FAIR
VALUE
 
At December 31, 2018
(Dollars in Thousands)
 
 
 
 
Due in one year or less
$
1,585

 
$
1,581

Due after one year through five years
25,283

 
25,483

Due after five years through ten years
250,025

 
251,933

Due after ten years
1,089,907

 
1,061,873

 
1,366,800

 
1,340,870

Mortgage-backed securities
366,467

 
354,186

Total securities at fair value
$
1,733,267

 
$
1,695,056

 
AMORTIZED
COST
 
FAIR
VALUE
At September 30, 2018
(Dollars in Thousands)
 
 
 
 
Due in one year or less
$
2,532

 
$
2,529

Due after one year through five years
41,415

 
41,504

Due after five years through ten years
352,099

 
350,143

Due after ten years
1,118,283

 
1,089,984

 
1,514,329

 
1,484,160

Mortgage-backed securities
378,301

 
364,065

Common equities and mutual funds(1)
3,172

 
3,800

Total securities at fair value
$
1,895,802

 
$
1,852,025

(1)Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.

Held To Maturity
AMORTIZED
COST
 
FAIR
VALUE
 
At December 31, 2018
(Dollars in Thousands)
 
 
 
 
Due after ten years
$
153,075

 
$
144,255

 
153,075

 
144,255

Mortgage-backed securities
7,661

 
7,335

Total held to maturity securities at cost
$
160,736

 
$
151,590

 
AMORTIZED
COST
 
FAIR
VALUE
At September 30, 2018
(Dollars in Thousands)
Due after ten years
$
163,893

 
$
153,135

 
163,893

 
153,135

Mortgage-backed securities
7,850

 
7,428

Total held to maturity securities at cost
$
171,743

 
$
160,563
v3.10.0.1
RENTAL EQUIPMENT, NET (Tables)
 3 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
Rental equipment was as follows as of December 31, 2018 and September 30, 2018.
 
December 31, 2018
 
September 30, 2018
 
(Dollars in thousands)
Computers and IT networking equipment
$
50,122

 
$
55,215

Motor vehicles and other
50,259

 
45,293

Office furniture and equipment
3,756

 
3,738

Solar panels and equipment
102,105

 
65,938

Total
206,242

 
170,183

 
 
 
 
Accumulated depreciation
(59,427
)
 
(62,893
)
Net book value
$
146,815

 
$
107,290
Schedule of Future Minimum Rental Payments for Operating Leases
Future minimum lease payments receivable on equipment under operating leases was as follows as of December 31, 2018.
 
December 31, 2018
 
(Dollars in thousands)
2019
$
22,679

2020
19,444

2021
14,679

2022
9,283

2023
7,808

2024 and thereafter
18,882

Total
$
92,775
v3.10.0.1
STOCK COMPENSATION (Tables)
 3 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Activity of Options
The following tables show the activity of options and nonvested (restricted) shares granted, exercised, or forfeited under the 2002 Omnibus Incentive Plan for the three months ended December 31, 2018:

 
Number of Shares
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Term (Yrs)
 
Aggregate Intrinsic Value
 
(Dollars in Thousands, Except Per Share Data (1))
Options outstanding, September 30, 2018
155,961

 
$
8.48

 
1.78

 
$
2,974

Granted
—

 
—

 
—

 
—

Exercised
(45,132
)
 
8.95

 
—

 
742

Forfeited or expired
—

 
—

 
—

 
—

Options outstanding, December 31, 2018
110,829

 
$
8.29

 
1.67

 
$
1,230

 
 
 
 
 
 
 
 
Options exercisable, December 31, 2018
110,829

 
$
8.29

 
1.67

 
$
1,230
Schedule of Nonvested Share Activity
 
Number of Shares
 
Weighted Average Fair Value at Grant
(Dollars in Thousands, Except Per Share Data (1))
Nonvested (restricted) shares outstanding, September 30, 2018
1,005,813

 
$
29.89

Granted
224,102

 
25.11

Vested
(245,842
)
 
27.29

Forfeited or expired
—

 
—

Nonvested (restricted) shares outstanding, December 31, 2018
984,073

 
$
29.45

(1) All share and per share data has been adjusted to reflect the 3-for-1 forward stock split effected by the Company on October 4, 2018.
v3.10.0.1
INCOME TAXES (Tables)
 3 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation
The Company’s effective tax rate in the future will depend in part on actual investment tax credits earned as part of its financing of solar energy projects.

The table below compares the income tax expense components for the periods presented.
Three Months Ended December 31,
2018
 
2017
(Dollars in Thousands)
 
 
 
Provision at statutory rate
$
3,072

 
$
2,540

Tax-exempt income
(1,201
)
 
(2,068
)
State income taxes
701

 
718

Interim period effective rate adjustment
5,263

 
717

Tax credit investments, net - federal
(9,568
)
 
—

Tax Reform rate adjustment
—

 
3,635

Other, net
42

 
142

Income tax expense
$
(1,691
)
 
$
5,684

Effective tax rate
(11.56
%)
 
54.90
%
v3.10.0.1
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)
 3 Months Ended
Dec. 31, 2018
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue by Major Customers by Reporting Segments
(Dollars in thousands)
Payments
 
Banking
 
Corporate Services/Other
 
Consolidated Company
Quarter Ended December 31,
2018
2017
 
2018
2017
 
2018
2017
 
2018
2017
Net interest income(1)
$
9,400

$
4,669

 
$
51,792

$
15,597

 
$
(920
)
$
5,930

 
$
60,272

$
26,196

Noninterest income:
 
 
 
 
 
 
 
 
 
 
 
Refund transfer product fees
261

192

 
—

—

 
—

—

 
261

192

Tax advance product fees(1)
1,685

1,947

 
—

—

 
—

—

 
1,685

1,947

Card fees
19,273

25,174

 
78

73

 
—

—

 
19,351

25,247

Rental income(1)
—

—

 
10,890

—

 
—

—

 
10,890

—

Loan and lease fees(1)
—

—

 
1,247

1,292

 
—

—

 
1,247

1,292

Bank-owned life insurance(1)
—

—

 
—

—

 
642

669

 
642

669

Deposit fees
1,534

728

 
404

120

 
—

—

 
1,938

848

Loss on sale of securities AFS(1)
—

—

 
—

—

 
(22
)
(1,010
)
 
(22
)
(1,010
)
Gain of loans and leases(1)
—

—

 
867

—

 
—

—

 
867

—

Gain (loss) on foreclosed real estate(1)
—

—

 
15

(19
)
 
—

—

 
15

(19
)
Other income(1)
73

60

 
768

19

 
36

23

 
877

102

Total noninterest income
22,826

28,101

 
14,269

1,485

 
656

(318
)
 
37,751

29,268

Revenue
$
32,226

$
32,770

 
$
66,061

$
17,082

 
$
(264
)
$
5,612

 
$
98,023

$
55,464

(1) These revenues are not within scope of ASC 606. Additional details are included in other footnotes to the accompanying financial statements. The scope of ASC 606 explicitly excludes net interest income as well as many other revenues for financial assets and liabilities, including loans, leases, and securities.
v3.10.0.1
FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Dec. 31, 2018
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 available for sale and equity securities at December 31, 2018 and September 30, 2018, as they are measured at fair value on a recurring basis.
 
Fair Value At December 31, 2018
(Dollars in Thousands)
Total
 
Level 1
 
Level 2
 
Level 3
Debt securities AFS
 
 
 
 
 
 
 
Small business administration securities
$
94,056

 
$
—

 
$
94,056

 
$
—

Obligations of states and political subdivisions
14,950

 
—

 
14,950

 
—

Non-bank qualified obligations of states and political subdivisions
944,571

 
—

 
944,571

 
—

Asset-backed securities
287,293

 
—

 
287,293

 
—

Mortgage-backed securities
354,186

 
—

 
354,186

 
—

Total debt securities AFS
1,695,056

 
—

 
1,695,056

 
—

Common equities and mutual funds(1)(2)
$
3,837

 
$
3,837

 
$
—

 
$
—

(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.
(2) ASU 2016-01 adopted on October 1, 2018, on a prospective basis, removed equity securities from AFS category at December 31, 2018.
 
Fair Value At September 30, 2018
 
Available For Sale
 
(Dollars in Thousands)
Total
 
Level 1
 
Level 2
 
Level 3
 
Debt securities AFS
 
 
 
 
 
 
 
 
Small business administration securities
$
44,337

 
$
—

 
$
44,337

 
$
—

 
Obligations of states and political subdivisions
16,910

 
—

 
16,910

 
—

 
Non-bank qualified obligations of states and political subdivisions
1,109,885

 
—

 
1,109,885

 
—

 
Asset-backed securities
313,028

 
—

 
313,028

 
—

 
Mortgage-backed securities
364,065

 
—

 
364,065

 
—

 
Total debt securities AFS
1,848,225

 
—

 
1,848,225

 
—

 
Common equities and mutual funds(1)
3,800

 
3,800

 
—

 
—

 
Total securities
$
1,852,025

 
$
3,800

 
$
1,848,225

 
$
—

 
Assets Measured at Fair Value on Nonrecurring Basis
The following table summarizes the assets of the Company that were measured at fair value in the consolidated statements of financial condition on a non-recurring basis as of December 31, 2018 and September 30, 2018.
 
Fair Value At December 31, 2018
(Dollars in Thousands)
Total
 
Level 1
 
Level 2
 
Level 3
Impaired Loans and Leases, net
 
 
 
 
 
 
 
Asset Based Lending
$
761

 
$
—

 
$
—

 
$
761

Factoring
724

 
—

 
—

 
724

Commercial finance
1,485

 
—

 
—

 
1,485

Total National Lending
1,485

 
—

 
—

 
1,485

     Total Impaired Loans and Leases
1,485

 
—

 
—

 
1,485

Foreclosed Assets, net
31,548

 
—

 
—

 
31,548

Total
$
33,033

 
$
—

 
$
—

 
$
33,033

 
Fair Value At September 30, 2018
(Dollars in Thousands)
Total
 
Level 1
 
Level 2
 
Level 3
Impaired loans and leases, net
 
 
 
 
 
 
 
Asset Based Lending
$
57

 
$
—

 
$
—

 
$
57

Factoring
1,899

 
—

 
—

 
1,899

Lease Financing
2,869

 
—

 
—

 
2,869

Commercial finance
4,825

 
—

 
—

 
4,825

Total National Lending
4,825

 
—

 
—

 
4,825

     Total impaired loans and leases
4,825

 
—

 
—

 
4,825

Foreclosed assets, net
31,638

 
—

 
—

 
31,638

Total
$
36,463

 
$
—

 
$
—

 
$
36,463
Quantitative Information about Level 3 Fair Value Measurements
 
Quantitative Information About Level 3 Fair Value Measurements
(Dollars in Thousands)
Fair Value at
December 31, 2018
 
Fair Value at
September 30, 2018
 
Valuation
Technique
 
Unobservable Input
 
Range of Inputs
Impaired loans and leases, net
$
1,485

 
4,825

 
Market approach
 
Appraised values (1)
 
4.00 - 10.00%
Foreclosed Assets, net
$
31,548

 
31,638

 
Market approach
 
Appraised values (1)
 
4.00 - 10.00%
(1) 
The Company generally relies on external appraisers to develop this information. Management reduced the appraised value by estimating selling costs in a range of 4% to 10%.
Carrying Amount and Estimated Fair Value of Financial Instruments
The following presents the carrying amount and estimated fair value of the financial instruments held by the Company at December 31, 2018 and September 30, 2018.
 
December 31, 2018
(Dollars in Thousands)
Carrying
Amount
 
Estimated
Fair Value
 
Level 1
 
Level 2
 
Level 3
Financial assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
164,169

 
$
164,169

 
$
164,169

 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
Debt securities available for sale
1,695,056

 
1,695,056

 
—

 
1,695,056

 
—

Debt securities held to maturity
160,736

 
151,590

 
—

 
151,590

 
—

Equity securities (1)
3,837

 
3,837

 
3,837

 
—

 
—

Total securities
1,859,629

 
1,850,483

 
3,837

 
1,846,646

 
—

 
 
 
 
 
 
 
 
 
 
Loans held for sale
33,560

 
33,560

 
—

 
33,560

 
—

 
 
 
 
 
 
 
 
 
 
Loans and leases:
 
 
 
 
 
 
 
 
 
Asset based lending
554,072

 
541,707

 
—

 
—

 
541,707

Factoring
284,912

 
281,731

 
—

 
—

 
281,731

Lease financing
290,889

 
291,205

 
—

 
—

 
291,205

Insurance premium finance
330,712

 
329,753

 
—

 
—

 
329,753

SBA/USDA
67,893

 
67,891

 
—

 
—

 
67,891

Other commercial finance
89,402

 
89,859

 
—

 
—

 
89,859

Commercial finance
1,617,880

 
1,602,146

 
—

 
—

 
1,602,146

Consumer credit products
96,144

 
95,310

 
—

 
—

 
95,310

Other consumer finance
182,510

 
178,616

 
—

 
—

 
178,616

Consumer finance
278,654

 
273,926

 
—

 
—

 
273,926

Tax services
76,575

 
76,568

 
—

 
—

 
76,568

Warehouse finance
176,134

 
173,488

 
—

 
—

 
173,488

Total National Lending
2,149,243

 
2,126,128

 
—

 
—

 
2,126,128

Commercial real estate and operating
863,753

 
849,384

 
—

 
—

 
849,384

Consumer one to four family real estate and other
256,341

 
252,230

 
—

 
—

 
252,230

Agricultural real estate and operating
58,971

 
56,906

 
—

 
—

 
56,906

Total Community Banking
1,179,065

 
1,158,520

 
—

 
—

 
1,158,520

Total loans and leases
3,328,308

 
3,284,648

 
—

 
—

 
3,284,648

 
 
 
 
 
 
 
 
 
 
Federal Home Loan Bank stock
15,600

 
15,600

 
—

 
15,600

 
—

Accrued interest receivable
22,076

 
22,076

 
22,076

 
—

 
—

 
 
 
 
 
 
 
 
 
 
Financial liabilities
 
 
 
 
 
 
 
 
 
Noninterest-bearing demand deposits
2,739,757

 
2,739,757

 
2,739,757

 
—

 
—

Interest-bearing demand deposits, savings, and money markets
235,450

 
235,450

 
235,450

 
—

 
—

Certificates of deposits
170,629

 
169,397

 
—

 
169,397

 
—

Wholesale non-maturing deposits
146,227

 
146,227

 
146,227

 
—

 
—

Wholesale certificates of deposits
1,644,384

 
1,640,910

 
—

 
1,640,910

 
—

Total deposits
4,936,447

 
4,931,741

 
3,121,434

 
1,810,307

 
—

 
 
 
 
 
 
 
 
 
 
Advances from Federal Home Loan Bank
—

 
—

 
—

 
—

 
—

Federal funds purchased
227,000

 
227,000

 
227,000

 
—

 
—

Securities sold under agreements to repurchase
4,226

 
4,226

 
—

 
4,226

 
—

Capital leases
1,860

 
1,860

 
—

 
1,860

 
—

Trust preferred securities
13,662

 
13,867

 
—

 
13,867

 
—

Subordinated debentures
73,528

 
75,000

 
—

 
75,000

 
—

Accrued interest payable
11,280

 
11,280

 
11,280

 
—

 
—

(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at December 31, 2018 and September 30, 2018.
 
September 30, 2018
(Dollars in Thousands)
Carrying
Amount
 
Estimated
Fair Value
 
Level 1
 
Level 2
 
Level 3
Financial assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
99,977

 
$
99,977

 
$
99,977

 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
Securities available for sale
1,852,025

 
1,852,025

 
3,800

 
1,848,225

 
—

Securities held to maturity
172,154

 
160,974

 
—

 
160,974

 
—

Total securities
2,024,179

 
2,012,999

 
3,800

 
2,009,199

 
—

 
 
 
 
 
 
 
 
 
 
Loans held for sale
15,606

 
15,606

 
—

 
15,606

 
—

 
 
 
 
 
 
 
 
 
 
Loans and leases:
 
 
 
 
 
 
 
 
 
Asset based lending
477,917

 
477,471

 
—

 
—

 
477,471

Factoring
284,221

 
283,424

 
—

 
—

 
283,424

Lease financing
265,315

 
264,679

 
—

 
—

 
264,679

Insurance premium finance
337,877

 
337,212

 
—

 
—

 
337,212

SBA/USDA
59,374

 
61,072

 
—

 
—

 
61,072

Other commercial finance
85,145

 
83,111

 
—

 
—

 
83,111

Commercial finance
1,509,849

 
1,506,969

 
—

 
—

 
1,506,969

Consumer credit products
80,605

 
80,633

 
—

 
—

 
80,633

Other consumer finance
189,756

 
197,320

 
—

 
—

 
197,320

Consumer finance
270,361

 
277,953

 
—

 
—

 
277,953

Tax services
1,073

 
1,073

 
—

 
—

 
1,073

Warehouse finance
65,000

 
64,978

 
—

 
—

 
64,978

Total National Lending
1,846,283

 
1,850,973

 
—

 
—

 
1,850,973

Commercial real estate and operating
790,890

 
773,203

 
—

 
—

 
773,203

Consumer one to four family real estate and other
247,318

 
244,730

 
—

 
—

 
244,730

Agricultural real estate and operating
60,498

 
58,849

 
—

 
—

 
58,849

Total Community Banking
1,098,706

 
1,076,782

 
—

 
—

 
1,076,782

Total loans and leases
2,944,989

 
2,927,755

 
—

 
—

 
2,927,755

 
 
 
 
 
 
 
 
 
 
Federal Home Loan Bank stock
23,400

 
23,400

 
—

 
23,400

 
—

Accrued interest receivable
22,016

 
22,016

 
22,016

 
—

 
—

 
 
 
 
 
 
 
 
 
 
Financial liabilities
 
 
 
 
 
 
 
 
 
Noninterest-bearing demand deposits
2,405,274

 
2,405,274

 
2,405,274

 
—

 
—

Interest-bearing demand deposits, savings, and money markets
218,347

 
218,347

 
218,347

 
—

 
—

Certificates of deposits
276,180

 
273,800

 
—

 
273,800

 
—

Wholesale non-maturing deposits
94,384

 
94,384

 
94,384

 
—

 
—

Wholesale certificates of deposits
1,436,802

 
1,432,146

 
—

 
1,432,146

 
—

Total deposits
4,430,987

 
4,423,951

 
2,718,005

 
1,705,946

 
—

 
 
 
 
 
 
 
 
 
 
Advances from Federal Home Loan Bank
—

 
—

 
—

 
—

 
—

Federal funds purchased
422,000

 
422,000

 
422,000

 
—

 
—

Securities sold under agreements to repurchase
3,694

 
3,694

 
—

 
3,694

 
—

Capital leases
1,876

 
1,876

 
—

 
1,876

 
—

Trust preferred securities
13,661

 
13,866

 
—

 
13,866

 
—

Subordinated debentures
73,491

 
75,563

 
—

 
75,563

 
—

Accrued interest payable
7,794

 
7,794

 
7,794

 
—

 
—
v3.10.0.1
SEGMENT REPORTING (Tables)
 3 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Segment Information of Entity
The following tables present segment data for the Company for the three months ended December 31, 2018 and 2017, respectively.
 
Payments
 
Banking
 
Corporate
Services/Other
 
Total
Three Months Ended December 31, 2018
 
 
 
 
 
 
 
Net interest income (loss)
$
9,400

 
$
51,792

 
$
(920
)
 
$
60,272

Provision for loan and lease losses
1,495

 
7,604

 
—

 
9,099

Noninterest income
22,826

 
14,269

 
656

 
37,751

Noninterest expense
21,362

 
33,843

 
19,090

 
74,295

Income (loss) before income tax expense (benefit)
9,369

 
24,614

 
(19,354
)
 
14,629

 
 
 
 
 
 
 
 
Total assets
302,368

 
3,793,647

 
2,086,750

 
6,182,765

Total goodwill
87,145

 
216,125

 
—

 
303,270

Total deposits
2,753,702

 
554,939

 
1,627,806

 
4,936,447

 
 
 
 
 
 
 
 
 
Payments
 
Banking
 
Corporate
Services/Other
 
Total
Three Months Ended December 31, 2017
 
 
 
 
 
 
 
Net interest income
$
4,669

 
$
15,597

 
$
5,930

 
$
26,196

Provision for loan losses
1,017

 
51

 
—

 
1,068

Noninterest income
28,101

 
1,485

 
(318
)
 
29,268

Noninterest expense
26,934

 
6,568

 
10,540

 
44,042

Income (loss) before income tax expense (benefit)
4,819

 
10,463

 
(4,928
)
 
10,354

 
 
 
 
 
 
 
 
Total assets
380,442

 
1,478,693

 
3,558,828

 
5,417,963

Total goodwill
87,145

 
11,578

 
—

 
98,723

Total deposits
2,768,736

 
236,494

 
508,415

 
3,513,645

 
 
 
 
 
 
 
 
v3.10.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES ("ASU") (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
Oct. 01, 2018
Sep. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Retained earnings $ 228,453   $ 213,048
New Accounting Pronouncements
ccounting policies in effect and disclosed within the Company’s most recent audited consolidated financial statements as of September 30, 2018 remain substantially unchanged with the exception of the policies impacted by the adoption of noted ASUs below.

Revenue Recognition - Effective October 1, 2018, the Company adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606), subsequent related Updates (collectively, ASU 2014-09), and ASU 2016-04, Liabilities - Extinguishments of Liabilities (Subtopic 405-20): Recognition of Breakage of Certain Prepaid Stored-Value Products. ASU 2014-09 modifies the guidance used to recognize revenue from contracts with customers for transfers of goods or services and transfers of non-financial assets, unless those contracts are within the scope of other guidance. Upon adoption, the Company recorded a cumulative-effect adjustment that increased retained earnings by $1.5 million, net of tax, due to changes in the timing of recognition of revenue from breakage on unregistered, unused prepaid cards in the Company’s Meta Payment Systems ("MPS") division. Breakage represents the estimated amount that will not be redeemed by the cardholder for goods or services. Previously, the Company recognized breakage revenue predominantly after the month of the card balance expiration. Upon adoption of ASU 2014-09, this revenue is recognized ratably over the life of the prepaid card. Recognition of all other revenue streams was substantially unchanged. The impact of adoption was immaterial to the Company’s operations for the three months ended December 31, 2018. Refer to Note 10. Revenue from Contracts with Customers for additional information.

Financial Instruments - Effective October 1, 2018, the Company adopted ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities, and related Updates (collectively, ASU 2016-01). ASU 2016-01 makes revisions to several elements of Subtopic 825-10, including that ASU 2016-01: (1) requires equity investments to be measured at fair value with changes in fair value to be recognized in net income, (2) simplifies the impairment assessment of equity investments without readily determinable fair value, (3) eliminates the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value of financial instruments measured at amortized cost on the consolidated statement of financial condition, (4) requires public business entities to use the exit price notion when measuring fair value of financial instruments for disclosure purposes, and (5) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or accompanying notes. Upon adoption, the Company recorded a cumulative-effect adjustment that reclassed $0.5 million, net of tax, from accumulated other comprehensive income to retained earnings, due to the Company's cumulative change in fair value of equity securities with readily determinable fair values previously recognized in accumulated other comprehensive income. The impact of adoption was immaterial to the Company’s operations for the three months ended December 31, 2018. Refer to Note 5. Securities for additional information.

The Company also adopted each of the following ASUs effective October 1, 2018, none of which had a material impact on the Company’s consolidated financial statements.
–
ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments
–
ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash
–
ASU 2017-01, Clarifying the Definition of a Business
–
ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
–
ASU 2017-05, Other Income - Gains and Losses from the Derecognition of Non-Financial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Non-Financial Assets
–
ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployees Share-Based Payment Accounting
    
Accounting Standards Update 2014-09 [Member]      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Cumulative Effect of New Accounting Principle in Period of Adoption   $ 1,502  
v3.10.0.1
ACQUISITIONS ACQUISTIONS - Narrative (Details) - USD ($)
$ in Thousands
Aug. 01, 2018
Dec. 31, 2018
Sep. 30, 2018
Dec. 31, 2017
Business Acquisition [Line Items]        
Goodwill   $ 303,270 $ 303,270 $ 98,723
Crestmark Bancorp, Inc. [Member]        
Business Acquisition [Line Items]        
Total consideration paid $ 295,800      
Equity interest issued (in shares) 9,919,512      
Assets assumed $ 1,320,000      
Receivables acquired 1,050,000 $ 889,000    
Other assets assumed 1,120,000      
Goodwill $ 204,500      
v3.10.0.1
LOANS AND LEASES, NET - Summary of Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Sep. 30, 2018
Aug. 01, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable $ 3,328,308 $ 2,944,989  
Allowance for loan and lease losses (21,290) (13,040)  
Net Deferred Loan Origination Fees 1,190 (250)  
Total Loans Receivable, Net 3,308,208 2,931,699  
Financing Receivable [Member] | Asset Based Lending [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 554,072 477,917  
Financing Receivable [Member] | Factoring [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 284,912 284,221  
Financing Receivable [Member] | Finance Leases Portfolio Segment [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 290,889 265,315  
Financing Receivable [Member] | Consumer [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 278,654 270,361  
Financing Receivable [Member] | Commercial Operating [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 1,617,880 1,509,849  
Financing Receivable [Member] | Consumer Credit Products [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 96,144 80,605  
Financing Receivable [Member] | Other Consumer Finance [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 182,510 189,756  
Financing Receivable [Member] | Commercial Insurance Premium Finance [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 330,712 337,877  
Financing Receivable [Member] | SBA/USDA [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 67,893 59,374  
Financing Receivable [Member] | Other Commercial Finance [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 89,402 85,145  
Financing Receivable [Member] | Tax Services [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 76,575 1,073  
Financing Receivable [Member] | Warehouse Agreement Borrowings [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 176,134 65,000  
Financing Receivable [Member] | National Lending [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 2,149,243 1,846,283  
Loans Receivable [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 1,179,065 1,098,706  
Loans Receivable [Member] | 1-4 Family Real Estate [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 256,341 247,318  
Loans Receivable [Member] | Commercial and Multi-Family Real Estate [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 863,753 790,890  
Loans Receivable [Member] | Agricultural Operating [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total Loans Receivable 58,971 $ 60,498  
Crestmark Bancorp, Inc. [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Receivables acquired 889,000   $ 1,050,000
Acquired loans and leases from Crestmark acquisition     1,060,000
Credit discounts (10,100)   (12,300)
Interest rate mark discounts $ (4,800)   $ (6,000)
v3.10.0.1
LOANS AND LEASES, NET LOANS AND LEASES, NET - Direct Financing and Sales-type Leases, and Lease Receivable Maturity (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Sep. 30, 2018
Net Investment in Leases [Abstract]    
Minimum lease payments receivable $ 330,273 $ 301,835
Estimated residual value of leased equipment 12,460 12,406
Unamortized initial direct costs (9) (3)
Premium on acquired leases 16 26
Unearned income (51,851) (48,949)
Net investment in direct financing and sales-type leases 290,889 $ 265,315
Sales-type and Direct Financing Leases, Lease Receivable, Fiscal Year Maturity [Abstract]    
2019 92,158  
2020 96,326  
2021 73,057  
2022 43,861  
2023 21,037  
2024 and thereafter 3,834  
Total $ 330,273  
v3.10.0.1
LOANS AND LEASES, NET - Allowance for Loan Losses and Recorded Investment in Loans (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Sep. 30, 2018
Allowance for Credit Losses [Roll Forward]        
Beginning balance $ 13,040 $ 7,534    
Provision (recovery) for loan losses 9,099 1,068    
Charge offs (2,804) (160)    
Recoveries 1,955 420    
Ending balance 21,290 8,862    
Ending balance: individually evaluated for impairment     $ 134 $ 0
Ending balance: collectively evaluated for impairment     21,156 13,040
Total 13,040 7,534 21,290 13,040
Loans:        
Ending balance: individually evaluated for impairment     11,102 15,611
Ending balance: collectively evaluated for impairment     3,317,206 2,929,378
Loans and Leases Receivable, Gross     3,328,308 2,944,989
Financing Receivable [Member]        
Loans:        
Loans and Leases Receivable, Gross     2,149,243 1,846,283
Financing Receivable [Member] | Asset Based Lending [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 107      
Provision (recovery) for loan losses 2,164      
Charge offs (262)      
Recoveries 56      
Ending balance 2,065      
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     2,065 107
Total 107   2,065 107
Loans:        
Ending balance: individually evaluated for impairment     2,371 1,404
Ending balance: collectively evaluated for impairment     551,701 476,513
Loans and Leases Receivable, Gross     554,072 477,917
Financing Receivable [Member] | Factoring [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 64      
Provision (recovery) for loan losses 1,223      
Charge offs (250)      
Recoveries 26      
Ending balance 1,062      
Ending balance: individually evaluated for impairment     134 0
Ending balance: collectively evaluated for impairment     928 64
Total 64   1,062 64
Loans:        
Ending balance: individually evaluated for impairment     1,680 3,331
Ending balance: collectively evaluated for impairment     283,232 280,890
Loans and Leases Receivable, Gross     284,912 284,221
Financing Receivable [Member] | Finance Leases Portfolio Segment [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 59      
Provision (recovery) for loan losses (130)      
Charge offs (418)      
Recoveries 1,572      
Ending balance 1,084      
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     1,084 59
Total 59   1,084 59
Loans:        
Ending balance: individually evaluated for impairment     5,000 8,877
Ending balance: collectively evaluated for impairment     285,889 256,438
Loans and Leases Receivable, Gross     290,889 265,315
Financing Receivable [Member] | Commercial Insurance Premium Finance [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 1,031 796    
Provision (recovery) for loan losses 93 51    
Charge offs (208) (129)    
Recoveries 56 7    
Ending balance 972 725    
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     972 1,031
Total 1,031 796 972 1,031
Loans:        
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     330,712 337,877
Loans and Leases Receivable, Gross     330,712 337,877
Financing Receivable [Member] | SBA/USDA [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 13      
Provision (recovery) for loan losses 240      
Charge offs 0      
Recoveries 0      
Ending balance 253      
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     253 13
Total 13   253 13
Loans:        
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     67,893 59,374
Loans and Leases Receivable, Gross     67,893 59,374
Financing Receivable [Member] | Other Commercial Finance [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 28 4    
Provision (recovery) for loan losses 263 0    
Charge offs 0 0    
Recoveries 0 0    
Ending balance 291 4    
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     291 28
Total 28 4 291 28
Loans:        
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     89,402 85,145
Loans and Leases Receivable, Gross     89,402 85,145
Financing Receivable [Member] | Commercial Operating [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 1,302 800    
Provision (recovery) for loan losses 3,853 51    
Charge offs (1,138) (129)    
Recoveries 1,710 7    
Ending balance 5,727 729    
Ending balance: individually evaluated for impairment     134 0
Ending balance: collectively evaluated for impairment     5,593 1,302
Total 1,302 800 5,727 1,302
Loans:        
Ending balance: individually evaluated for impairment     9,051 13,612
Ending balance: collectively evaluated for impairment     1,608,829 1,496,237
Loans and Leases Receivable, Gross     1,617,880 1,509,849
Financing Receivable [Member] | Consumer Credit Products [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 785      
Provision (recovery) for loan losses 366      
Charge offs 0      
Recoveries 0      
Ending balance 1,151      
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     1,151 785
Total 785   1,151 785
Loans:        
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     96,144 80,605
Loans and Leases Receivable, Gross     96,144 80,605
Financing Receivable [Member] | Other Consumer Finance [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 2,820      
Provision (recovery) for loan losses 3,023      
Charge offs (1,624)      
Recoveries 3      
Ending balance 4,222      
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     4,222 2,820
Total 2,820   4,222 2,820
Loans:        
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     182,510 189,756
Loans and Leases Receivable, Gross     182,510 189,756
Financing Receivable [Member] | Consumer [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 3,605      
Provision (recovery) for loan losses 3,389      
Charge offs (1,624)      
Recoveries 3      
Ending balance 5,373      
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     5,373 3,605
Total 3,605   5,373 3,605
Loans:        
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     278,654 270,361
Loans and Leases Receivable, Gross     278,654 270,361
Financing Receivable [Member] | Tax Services [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 0 5    
Provision (recovery) for loan losses 1,496 1,017    
Charge offs (42) 0    
Recoveries 92 413    
Ending balance 1,546 1,435    
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     1,546 0
Total 0 5 1,546 0
Loans:        
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     76,575 1,073
Loans and Leases Receivable, Gross     76,575 1,073
Financing Receivable [Member] | Warehouse Agreement Borrowings [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 65      
Provision (recovery) for loan losses 111      
Charge offs 0      
Recoveries 0      
Ending balance 176      
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     176 65
Total 65   176 65
Loans:        
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     176,134 65,000
Loans and Leases Receivable, Gross     176,134 65,000
Financing Receivable [Member] | National Lending [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 4,972 805    
Provision (recovery) for loan losses 8,849 1,068    
Charge offs (2,804) (129)    
Recoveries 1,805 420    
Ending balance 12,822 2,164    
Ending balance: individually evaluated for impairment     134 0
Ending balance: collectively evaluated for impairment     12,688 4,972
Total 4,972 805 12,822 4,972
Loans:        
Ending balance: individually evaluated for impairment     9,051 13,612
Ending balance: collectively evaluated for impairment     2,140,192 1,832,671
Loans and Leases Receivable, Gross     2,149,243 1,846,283
Loans Receivable [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 8,068 6,729    
Provision (recovery) for loan losses 250 0    
Charge offs 0 (31)    
Recoveries 150 0    
Ending balance 8,468 6,698    
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     8,468 8,068
Total 8,068 6,729 8,468 8,068
Loans:        
Ending balance: individually evaluated for impairment     2,051 1,999
Ending balance: collectively evaluated for impairment     1,177,014 1,096,707
Loans and Leases Receivable, Gross     1,179,065 1,098,706
Loans Receivable [Member] | Unallocated [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance   526    
Provision (recovery) for loan losses   374    
Charge offs   0    
Recoveries   0    
Ending balance   900    
Total   526    
Loans Receivable [Member] | Commercial and Multi-Family Real Estate [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 6,220 2,820    
Provision (recovery) for loan losses 350 329    
Charge offs 0 0    
Recoveries 0 0    
Ending balance 6,570 3,149    
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     6,570 6,220
Total 6,220 2,820 6,570 6,220
Loans:        
Ending balance: individually evaluated for impairment     402 451
Ending balance: collectively evaluated for impairment     863,351 790,439
Loans and Leases Receivable, Gross     863,753 790,890
Loans Receivable [Member] | 1-4 Family Real Estate [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 632 809    
Provision (recovery) for loan losses 87 (113)    
Charge offs 0 (31)    
Recoveries 0 0    
Ending balance 719 665    
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     719 632
Total 632 809 719 632
Loans:        
Ending balance: individually evaluated for impairment     138 94
Ending balance: collectively evaluated for impairment     256,203 247,224
Loans and Leases Receivable, Gross     256,341 247,318
Loans Receivable [Member] | Agricultural Operating [Member]        
Allowance for Credit Losses [Roll Forward]        
Beginning balance 1,216 2,574    
Provision (recovery) for loan losses (187) (590)    
Charge offs 0 0    
Recoveries 150 0    
Ending balance 1,179 1,984    
Ending balance: individually evaluated for impairment     0 0
Ending balance: collectively evaluated for impairment     1,179 1,216
Total $ 1,216 $ 2,574 1,179 1,216
Loans:        
Ending balance: individually evaluated for impairment     1,511 1,454
Ending balance: collectively evaluated for impairment     57,460 59,044
Loans and Leases Receivable, Gross     $ 58,971 $ 60,498
v3.10.0.1
LOANS AND LEASES, NET - Asset Classification of Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Sep. 30, 2018
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross $ 3,328,308 $ 2,944,989
Total Loans Receivable 3,328,308 2,944,989
Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 3,174,479 2,783,536
Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 18,383 15,235
Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 114,329 121,639
Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 21,117 24,579
Financing Receivable [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 2,149,243 1,846,283
Financing Receivable [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 2,031,007 1,716,336
Financing Receivable [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 109,185 116,334
Financing Receivable [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 9,051 13,613
Financing Receivable [Member] | Asset Based Lending [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 554,072 477,917
Total Loans Receivable 554,072 477,917
Financing Receivable [Member] | Asset Based Lending [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 498,694 418,635
Financing Receivable [Member] | Asset Based Lending [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Asset Based Lending [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 53,007 57,877
Financing Receivable [Member] | Asset Based Lending [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 2,371 1,405
Financing Receivable [Member] | Factoring [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 284,912 284,221
Total Loans Receivable 284,912 284,221
Financing Receivable [Member] | Factoring [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 244,992 248,246
Financing Receivable [Member] | Factoring [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Factoring [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 38,240 32,644
Financing Receivable [Member] | Factoring [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 1,680 3,331
Financing Receivable [Member] | Finance Leases Portfolio Segment [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 290,889 265,315
Total Loans Receivable 290,889 265,315
Financing Receivable [Member] | Finance Leases Portfolio Segment [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 284,239 252,487
Financing Receivable [Member] | Finance Leases Portfolio Segment [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Finance Leases Portfolio Segment [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 1,650 3,951
Financing Receivable [Member] | Finance Leases Portfolio Segment [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 5,000 8,877
Financing Receivable [Member] | Consumer [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 278,654 270,361
Total Loans Receivable 278,654 270,361
Financing Receivable [Member] | Consumer [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 278,654 270,361
Financing Receivable [Member] | Consumer [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Consumer [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Consumer [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Commercial Operating [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 1,617,880 1,509,849
Total Loans Receivable 1,617,880 1,509,849
Financing Receivable [Member] | Commercial Operating [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 1,499,644 1,379,902
Financing Receivable [Member] | Commercial Operating [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Commercial Operating [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 109,185 116,334
Financing Receivable [Member] | Commercial Operating [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 9,051 13,613
Financing Receivable [Member] | Consumer Credit Products [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 96,144 80,605
Total Loans Receivable 96,144 80,605
Financing Receivable [Member] | Consumer Credit Products [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 96,144 80,605
Financing Receivable [Member] | Consumer Credit Products [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Consumer Credit Products [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Consumer Credit Products [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Other Consumer Finance [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 182,510 189,756
Total Loans Receivable 182,510 189,756
Financing Receivable [Member] | Other Consumer Finance [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 182,510 189,756
Financing Receivable [Member] | Other Consumer Finance [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Other Consumer Finance [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Other Consumer Finance [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Commercial Insurance Premium Finance [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 330,712 337,877
Total Loans Receivable 330,712 337,877
Financing Receivable [Member] | Commercial Insurance Premium Finance [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 329,131 336,296
Financing Receivable [Member] | Commercial Insurance Premium Finance [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Commercial Insurance Premium Finance [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 1,581 1,581
Financing Receivable [Member] | Commercial Insurance Premium Finance [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | SBA/USDA [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 67,893 59,374
Total Loans Receivable 67,893 59,374
Financing Receivable [Member] | SBA/USDA [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 53,539 39,093
Financing Receivable [Member] | SBA/USDA [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | SBA/USDA [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 14,354 20,281
Financing Receivable [Member] | SBA/USDA [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Other Commercial Finance [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 89,402 85,145
Total Loans Receivable 89,402 85,145
Financing Receivable [Member] | Other Commercial Finance [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 89,049 85,145
Financing Receivable [Member] | Other Commercial Finance [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Other Commercial Finance [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 353 0
Financing Receivable [Member] | Other Commercial Finance [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Tax Services [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 76,575 1,073
Total Loans Receivable 76,575 1,073
Financing Receivable [Member] | Tax Services [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 76,575 1,073
Financing Receivable [Member] | Tax Services [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Tax Services [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Tax Services [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Warehouse Agreement Borrowings [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 176,134 65,000
Total Loans Receivable 176,134 65,000
Financing Receivable [Member] | Warehouse Agreement Borrowings [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 176,134 65,000
Financing Receivable [Member] | Warehouse Agreement Borrowings [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Warehouse Agreement Borrowings [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Financing Receivable [Member] | Warehouse Agreement Borrowings [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Loans Receivable [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 1,179,065 1,098,706
Total Loans Receivable 1,179,065 1,098,706
Loans Receivable [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 1,143,472 1,067,200
Loans Receivable [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 18,383 15,235
Loans Receivable [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 5,144 5,305
Loans Receivable [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 12,066 10,966
Loans Receivable [Member] | 1-4 Family Real Estate [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 256,341 247,318
Total Loans Receivable 256,341 247,318
Loans Receivable [Member] | 1-4 Family Real Estate [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 254,458 246,463
Loans Receivable [Member] | 1-4 Family Real Estate [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 1,496 537
Loans Receivable [Member] | 1-4 Family Real Estate [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 308 239
Loans Receivable [Member] | 1-4 Family Real Estate [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 79 79
Loans Receivable [Member] | Commercial and Multi-Family Real Estate [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 863,753 790,890
Total Loans Receivable 863,753 790,890
Loans Receivable [Member] | Commercial and Multi-Family Real Estate [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 848,456 778,445
Loans Receivable [Member] | Commercial and Multi-Family Real Estate [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 15,297 12,251
Loans Receivable [Member] | Commercial and Multi-Family Real Estate [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 194
Loans Receivable [Member] | Commercial and Multi-Family Real Estate [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 0 0
Loans Receivable [Member] | Agricultural Operating [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 58,971 60,498
Total Loans Receivable 58,971 60,498
Loans Receivable [Member] | Agricultural Operating [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 40,558 42,292
Loans Receivable [Member] | Agricultural Operating [Member] | Watch [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 1,590 2,447
Loans Receivable [Member] | Agricultural Operating [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross 4,836 4,872
Loans Receivable [Member] | Agricultural Operating [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross $ 11,987 $ 10,887
v3.10.0.1
LOANS AND LEASES, NET - Past Due Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Sep. 30, 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross $ 3,328,308 $ 2,944,989
Performing Financial Instruments [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 35,014 38,851
Current 3,293,294 2,906,138
Loans and Leases Receivable, Gross 3,328,308 2,944,989
Performing Financial Instruments [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 16,158 24,022
Performing Financial Instruments [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 6,880 5,297
Performing Financial Instruments [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 11,976 9,532
Nonperforming Financial Instruments [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 13,871 10,201
Non-accrual balance 6,155 2,864
Nonperforming Financial Instruments [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 7,716 7,337
Financing Receivable [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 2,149,243 1,846,283
Financing Receivable [Member] | Asset Based Lending [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 554,072 477,917
Financing Receivable [Member] | Factoring [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 284,912 284,221
Financing Receivable [Member] | Finance Leases Portfolio Segment [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 290,889 265,315
Financing Receivable [Member] | Consumer [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 278,654 270,361
Financing Receivable [Member] | Commercial Operating [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 1,617,880 1,509,849
Financing Receivable [Member] | Consumer Credit Products [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 96,144 80,605
Financing Receivable [Member] | Other Consumer Finance [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 182,510 189,756
Financing Receivable [Member] | Commercial Insurance Premium Finance [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 330,712 337,877
Financing Receivable [Member] | SBA/USDA [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 67,893 59,374
Financing Receivable [Member] | Other Commercial Finance [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 89,402 85,145
Financing Receivable [Member] | Tax Services [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 76,575 1,073
Financing Receivable [Member] | Warehouse Agreement Borrowings [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 176,134 65,000
Financing Receivable [Member] | Performing Financial Instruments [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 34,823 38,667
Current 2,114,420 1,807,616
Loans and Leases Receivable, Gross 2,149,243 1,846,283
Financing Receivable [Member] | Performing Financial Instruments [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 16,066 23,917
Financing Receivable [Member] | Performing Financial Instruments [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 6,860 5,297
Financing Receivable [Member] | Performing Financial Instruments [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 11,897 9,453
Financing Receivable [Member] | Performing Financial Instruments [Member] | Asset Based Lending [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 1,075 3,480
Current 552,997 474,437
Loans and Leases Receivable, Gross 554,072 477,917
Financing Receivable [Member] | Performing Financial Instruments [Member] | Asset Based Lending [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 739 1,235
Financing Receivable [Member] | Performing Financial Instruments [Member] | Asset Based Lending [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 2,151
Financing Receivable [Member] | Performing Financial Instruments [Member] | Asset Based Lending [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 336 94
Financing Receivable [Member] | Performing Financial Instruments [Member] | Factoring [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Current 284,912 284,221
Loans and Leases Receivable, Gross 284,912 284,221
Financing Receivable [Member] | Performing Financial Instruments [Member] | Factoring [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Financing Receivable [Member] | Performing Financial Instruments [Member] | Factoring [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Financing Receivable [Member] | Performing Financial Instruments [Member] | Factoring [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Financing Receivable [Member] | Performing Financial Instruments [Member] | Finance Leases Portfolio Segment [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 19,149 19,995
Current 271,740 245,320
Loans and Leases Receivable, Gross 290,889 265,315
Financing Receivable [Member] | Performing Financial Instruments [Member] | Finance Leases Portfolio Segment [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 9,685 16,542
Financing Receivable [Member] | Performing Financial Instruments [Member] | Finance Leases Portfolio Segment [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 4,205 532
Financing Receivable [Member] | Performing Financial Instruments [Member] | Finance Leases Portfolio Segment [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 5,259 2,921
Financing Receivable [Member] | Performing Financial Instruments [Member] | Consumer [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 8,952 7,188
Current 269,702 263,173
Loans and Leases Receivable, Gross 278,654 270,361
Financing Receivable [Member] | Performing Financial Instruments [Member] | Consumer [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 3,580 3,209
Financing Receivable [Member] | Performing Financial Instruments [Member] | Consumer [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 1,866 1,595
Financing Receivable [Member] | Performing Financial Instruments [Member] | Consumer [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 3,506 2,384
Financing Receivable [Member] | Performing Financial Instruments [Member] | Commercial Operating [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 25,871 30,406
Current 1,592,009 1,479,443
Loans and Leases Receivable, Gross 1,617,880 1,509,849
Financing Receivable [Member] | Performing Financial Instruments [Member] | Commercial Operating [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 12,486 20,708
Financing Receivable [Member] | Performing Financial Instruments [Member] | Commercial Operating [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 4,994 3,702
Financing Receivable [Member] | Performing Financial Instruments [Member] | Commercial Operating [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 8,391 5,996
Financing Receivable [Member] | Performing Financial Instruments [Member] | Consumer Credit Products [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 1,380 963
Current 94,764 79,642
Loans and Leases Receivable, Gross 96,144 80,605
Financing Receivable [Member] | Performing Financial Instruments [Member] | Consumer Credit Products [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 701 532
Financing Receivable [Member] | Performing Financial Instruments [Member] | Consumer Credit Products [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 369 284
Financing Receivable [Member] | Performing Financial Instruments [Member] | Consumer Credit Products [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 310 147
Financing Receivable [Member] | Performing Financial Instruments [Member] | Other Consumer Finance [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 7,572 6,225
Current 174,938 183,531
Loans and Leases Receivable, Gross 182,510 189,756
Financing Receivable [Member] | Performing Financial Instruments [Member] | Other Consumer Finance [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 2,879 2,677
Financing Receivable [Member] | Performing Financial Instruments [Member] | Other Consumer Finance [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 1,497 1,311
Financing Receivable [Member] | Performing Financial Instruments [Member] | Other Consumer Finance [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 3,196 2,237
Financing Receivable [Member] | Performing Financial Instruments [Member] | Commercial Insurance Premium Finance [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 5,164 5,864
Current 325,548 332,013
Loans and Leases Receivable, Gross 330,712 337,877
Financing Receivable [Member] | Performing Financial Instruments [Member] | Commercial Insurance Premium Finance [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 1,579 1,864
Financing Receivable [Member] | Performing Financial Instruments [Member] | Commercial Insurance Premium Finance [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 789 1,019
Financing Receivable [Member] | Performing Financial Instruments [Member] | Commercial Insurance Premium Finance [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 2,796 2,981
Financing Receivable [Member] | Performing Financial Instruments [Member] | SBA/USDA [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 483 1,067
Current 67,410 58,307
Loans and Leases Receivable, Gross 67,893 59,374
Financing Receivable [Member] | Performing Financial Instruments [Member] | SBA/USDA [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 483 1,067
Financing Receivable [Member] | Performing Financial Instruments [Member] | SBA/USDA [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Financing Receivable [Member] | Performing Financial Instruments [Member] | SBA/USDA [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Financing Receivable [Member] | Performing Financial Instruments [Member] | Other Commercial Finance [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Current 89,402 85,145
Loans and Leases Receivable, Gross 89,402 85,145
Financing Receivable [Member] | Performing Financial Instruments [Member] | Other Commercial Finance [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Financing Receivable [Member] | Performing Financial Instruments [Member] | Other Commercial Finance [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Financing Receivable [Member] | Performing Financial Instruments [Member] | Other Commercial Finance [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Financing Receivable [Member] | Performing Financial Instruments [Member] | Tax Services [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 1,073
Current 76,575 0
Loans and Leases Receivable, Gross 76,575 1,073
Financing Receivable [Member] | Performing Financial Instruments [Member] | Tax Services [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Financing Receivable [Member] | Performing Financial Instruments [Member] | Tax Services [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Financing Receivable [Member] | Performing Financial Instruments [Member] | Tax Services [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 1,073
Financing Receivable [Member] | Performing Financial Instruments [Member] | Warehouse Agreement Borrowings [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Current 176,134 65,000
Loans and Leases Receivable, Gross 176,134 65,000
Financing Receivable [Member] | Performing Financial Instruments [Member] | Warehouse Agreement Borrowings [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Financing Receivable [Member] | Performing Financial Instruments [Member] | Warehouse Agreement Borrowings [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Financing Receivable [Member] | Performing Financial Instruments [Member] | Warehouse Agreement Borrowings [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Financing Receivable [Member] | Nonperforming Financial Instruments [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 13,792 10,122
Non-accrual balance 6,155 2,864
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 7,637 7,258
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Asset Based Lending [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 1,007 94
Non-accrual balance 1,007 0
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Asset Based Lending [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 0 94
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Factoring [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 307 0
Non-accrual balance 307 0
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Factoring [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 0 0
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Finance Leases Portfolio Segment [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 6,176 3,590
Non-accrual balance 4,841 2,864
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Finance Leases Portfolio Segment [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 1,335 726
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Consumer [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 3,506 2,384
Non-accrual balance 0 0
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Consumer [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 3,506 2,384
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Commercial Operating [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 10,286 6,665
Non-accrual balance 6,155 2,864
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Commercial Operating [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 4,131 3,801
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Consumer Credit Products [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 310 147
Non-accrual balance 0 0
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Consumer Credit Products [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 310 147
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Other Consumer Finance [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 3,196 2,237
Non-accrual balance 0 0
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Other Consumer Finance [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 3,196 2,237
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Commercial Insurance Premium Finance [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 2,796 2,981
Non-accrual balance 0 0
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Commercial Insurance Premium Finance [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 2,796 2,981
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | SBA/USDA [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 0 0
Non-accrual balance 0 0
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | SBA/USDA [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 0 0
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Other Commercial Finance [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 0 0
Non-accrual balance 0 0
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Other Commercial Finance [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 0 0
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Tax Services [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 0 1,073
Non-accrual balance 0 0
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Tax Services [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 0 1,073
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Warehouse Agreement Borrowings [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 0 0
Non-accrual balance 0 0
Financing Receivable [Member] | Nonperforming Financial Instruments [Member] | Warehouse Agreement Borrowings [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 0 0
Loans Receivable [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 1,179,065 1,098,706
Loans Receivable [Member] | 1-4 Family Real Estate [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 256,341 247,318
Loans Receivable [Member] | Commercial and Multi-Family Real Estate [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 863,753 790,890
Loans Receivable [Member] | Agricultural Operating [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 58,971 60,498
Loans Receivable [Member] | Performing Financial Instruments [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 191 184
Current 1,178,874 1,098,522
Loans and Leases Receivable, Gross 1,179,065 1,098,706
Loans Receivable [Member] | Performing Financial Instruments [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 92 105
Loans Receivable [Member] | Performing Financial Instruments [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 20 0
Loans Receivable [Member] | Performing Financial Instruments [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 79 79
Loans Receivable [Member] | Performing Financial Instruments [Member] | 1-4 Family Real Estate [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 166 184
Current 256,175 247,134
Loans and Leases Receivable, Gross 256,341 247,318
Loans Receivable [Member] | Performing Financial Instruments [Member] | 1-4 Family Real Estate [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 67 105
Loans Receivable [Member] | Performing Financial Instruments [Member] | 1-4 Family Real Estate [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 20 0
Loans Receivable [Member] | Performing Financial Instruments [Member] | 1-4 Family Real Estate [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 79 79
Loans Receivable [Member] | Performing Financial Instruments [Member] | Commercial and Multi-Family Real Estate [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 25 0
Current 863,728 790,890
Loans and Leases Receivable, Gross 863,753 790,890
Loans Receivable [Member] | Performing Financial Instruments [Member] | Commercial and Multi-Family Real Estate [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 25 0
Loans Receivable [Member] | Performing Financial Instruments [Member] | Commercial and Multi-Family Real Estate [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Loans Receivable [Member] | Performing Financial Instruments [Member] | Commercial and Multi-Family Real Estate [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Loans Receivable [Member] | Performing Financial Instruments [Member] | Agricultural Operating [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Current 58,971 60,498
Loans and Leases Receivable, Gross 58,971 60,498
Loans Receivable [Member] | Performing Financial Instruments [Member] | Agricultural Operating [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Loans Receivable [Member] | Performing Financial Instruments [Member] | Agricultural Operating [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Loans Receivable [Member] | Performing Financial Instruments [Member] | Agricultural Operating [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total past due 0 0
Loans Receivable [Member] | Nonperforming Financial Instruments [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 79 79
Non-accrual balance 0 0
Loans Receivable [Member] | Nonperforming Financial Instruments [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 79 79
Loans Receivable [Member] | Nonperforming Financial Instruments [Member] | 1-4 Family Real Estate [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 79 79
Non-accrual balance 0 0
Loans Receivable [Member] | Nonperforming Financial Instruments [Member] | 1-4 Family Real Estate [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 79 79
Loans Receivable [Member] | Nonperforming Financial Instruments [Member] | Commercial and Multi-Family Real Estate [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 0 0
Non-accrual balance 0 0
Loans Receivable [Member] | Nonperforming Financial Instruments [Member] | Commercial and Multi-Family Real Estate [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance 0 0
Loans Receivable [Member] | Nonperforming Financial Instruments [Member] | Agricultural Operating [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans and Leases Receivable, Gross 0 0
Non-accrual balance 0 0
Loans Receivable [Member] | Nonperforming Financial Instruments [Member] | Agricultural Operating [Member] | Greater Than 90 Days [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-accrual balance $ 0 $ 0
v3.10.0.1
LOANS AND LEASES, NET - Impaired Loans (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Sep. 30, 2018
Loans without a specific valuation allowance      
Recorded Balance $ 10,307   $ 10,198
Unpaid Principal Balance 11,375   10,528
Loans with a specific valuation allowance [Abstract]      
Recorded investment 795   5,413
Unpaid principal balance 795   5,413
Specific allowance 134   588
Average Recorded Investment 14,107 $ 1,426  
Recognized Interest Income 125 21  
Financing Receivable [Member]      
Loans without a specific valuation allowance      
Recorded Balance 8,256   8,199
Unpaid Principal Balance 9,324   8,529
Loans with a specific valuation allowance [Abstract]      
Recorded investment 795   5,413
Unpaid principal balance 795   5,663
Specific allowance 134   588
Average Recorded Investment 12,091 0  
Recognized Interest Income 94 0  
Financing Receivable [Member] | Asset Based Lending [Member]      
Loans without a specific valuation allowance      
Recorded Balance 2,371   1,325
Unpaid Principal Balance 2,871   1,325
Loans with a specific valuation allowance [Abstract]      
Recorded investment     79
Unpaid principal balance     79
Specific allowance     22
Average Recorded Investment 1,726 0  
Recognized Interest Income 79 0  
Financing Receivable [Member] | Factoring [Member]      
Loans without a specific valuation allowance      
Recorded Balance 885   1,383
Unpaid Principal Balance 1,453   1,713
Loans with a specific valuation allowance [Abstract]      
Recorded investment 795   1,948
Unpaid principal balance 795   2,198
Specific allowance 134   49
Average Recorded Investment 2,780 0  
Recognized Interest Income 5 0  
Financing Receivable [Member] | Finance Leases Portfolio Segment [Member]      
Loans without a specific valuation allowance      
Recorded Balance 5,000   5,491
Unpaid Principal Balance 5,000   5,491
Loans with a specific valuation allowance [Abstract]      
Recorded investment     3,386
Unpaid principal balance     3,386
Specific allowance     517
Average Recorded Investment 7,585 0  
Recognized Interest Income 10 0  
Financing Receivable [Member] | Commercial Operating [Member]      
Loans without a specific valuation allowance      
Recorded Balance 8,256   8,199
Unpaid Principal Balance 9,324   8,529
Loans with a specific valuation allowance [Abstract]      
Recorded investment 795   5,413
Unpaid principal balance 795   5,663
Specific allowance 134   588
Average Recorded Investment 12,091 0  
Recognized Interest Income 94 0  
Loans Receivable [Member]      
Loans without a specific valuation allowance      
Recorded Balance 2,051   1,999
Unpaid Principal Balance 2,051   1,999
Loans with a specific valuation allowance [Abstract]      
Average Recorded Investment 2,016 1,426  
Recognized Interest Income 31 21  
Loans Receivable [Member] | 1-4 Family Real Estate [Member]      
Loans without a specific valuation allowance      
Recorded Balance 138   140
Unpaid Principal Balance 138   140
Loans with a specific valuation allowance [Abstract]      
Average Recorded Investment 139 100  
Recognized Interest Income 2 2  
Loans Receivable [Member] | Commercial and Multi-Family Real Estate [Member]      
Loans without a specific valuation allowance      
Recorded Balance 402   405
Unpaid Principal Balance 402   405
Loans with a specific valuation allowance [Abstract]      
Average Recorded Investment 404 975  
Recognized Interest Income 4 5  
Loans Receivable [Member] | Agricultural Operating [Member]      
Loans without a specific valuation allowance      
Recorded Balance 1,511   1,454
Unpaid Principal Balance 1,511   $ 1,454
Loans with a specific valuation allowance [Abstract]      
Average Recorded Investment 1,473 351  
Recognized Interest Income $ 25 $ 14  
v3.10.0.1
LOANS AND LEASES, NET - Narrative and Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Sep. 30, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Foreclosed real estate and repossessed assets $ 31,548   $ 31,638
Accrued Purchases of Available-For-Sale Securities, Not Paid 39,452 $ 0  
Increase in loans held for sale $ (6,571) 0  
Percentage of specific allowance for losses 100.00%    
Annual cap of ARM loans 2.00%    
Lifetime cap of ARM loans 6.00%    
Loans and Leases Receivable, Net Amount $ 3,308,208   $ 2,931,699
Proceeds from sales 22,611 0  
Gain (Loss) on Sales of Loans, Net 550 0  
Payments to Acquire Loans Receivable 122,668 75,163  
Proceeds from Sales 378 $ 5,916  
Financing Receivable [Member] | SBA/USDA [Member]      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Increase in loans held for sale $ 7,500    
v3.10.0.1
LOANS AND LEASES, NET - Troubled Debt Restructured Loans (Details)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
USD ($)
loan
Dec. 31, 2017
USD ($)
loan
Sep. 30, 2018
USD ($)
Financing Receivable, Modifications [Line Items]      
Number of community banking loans | loan 0 0  
Loans modified in TDR   $ 0  
Foreclosed real estate and repossessed assets $ 31,548   $ 31,638
Loans Receivable [Member]      
Financing Receivable, Modifications [Line Items]      
Number of community banking loans | loan 2 0  
Recorded investment $ 100    
Loans modified in TDR $ 100    
Financing Receivable [Member]      
Financing Receivable, Modifications [Line Items]      
Number of national lending contracts | loan 1    
v3.10.0.1
EARNINGS PER COMMON SHARE (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Earnings Per Common Share, Basic and Diluted [Abstract]    
Net income attributable to Meta Financial Group, Inc. $ 15,398 $ 4,670
Weighted average common shares outstanding (in shares) 39,335,054 28,970,334
Basic income per common share (in dollars per share) [1] $ 0.39 $ 0.16
Outstanding options - based upon the two-class method (in shares) 71,453 168,189
Weighted average common and dilutive potential common shares outstanding (in shares) 39,406,507 29,138,523
Diluted income per common share (in dollars per share) [1] $ 0.39 $ 0.16
[1] All share and per share data has been adjusted to reflect the 3-for-1 forward stock split effected by the Company on October 4, 2018.
v3.10.0.1
SECURITIES - Narrative (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Sep. 30, 2018
Item Effected [Line Items]    
Equity securities cost $ 1,800  
Equity securities fair value 1,800  
Equity Securities without readily determinable fair value, amount 2,000 $ 2,000
Federal Home Loan Bank Stock, at cost 15,600 23,400
Mortgage-backed securities available for sale, at fair value $ 354,186 364,065
Accounting Standards Update 2016-01 [Member] | Retained Earnings [Member]    
Item Effected [Line Items]    
Cumulative Effect of New Accounting Principle in Period of Adoption   $ 475
v3.10.0.1
SECURITIES - Available for Sale (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Sep. 30, 2018
Available-for-sale debt securities [Abstract]    
Fair Value $ 354,186 $ 364,065
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
LESS THAN 12 MONTHS, Fair Value   950,499
LESS THAN 12 MONTHS, Unrealized (Losses)   (18,629)
OVER 12 MONTHS, Fair Value   601,825
OVER 12 MONTHS, Unrealized (Losses)   (29,244)
TOTAL, Fair Value   1,552,324
TOTAL, Unrealized (Losses)   (47,873)
AMORTIZED COST    
Due in one year or less 1,585 2,532
Due after one year through five years 25,283 41,415
Due after five years through ten years 250,025 352,099
Due after ten years 1,089,907 1,118,283
Total 1,366,800 1,514,329
Mortgage-backed securities 366,467 378,301
Common equities and mutual funds   3,172
Amortized cost 1,733,267 1,895,802
FAIR VALUE    
Due in one year or less 1,581 2,529
Due after one year through five years 25,483 41,504
Due after five years through ten years 251,933 350,143
Due after ten years 1,061,873 1,089,984
Total 1,340,870 1,484,160
Mortgage-backed securities 354,186 364,065
Common equities and mutual funds(1)   3,800
Total available for sale securities 1,695,056 1,852,025
Available-for-sale Securities [Member]    
Available-for-sale debt securities [Abstract]    
Amortized cost   1,895,802
Gross unrealized gains   4,096
Gross unrealized (losses)   (47,873)
Fair Value   1,852,025
Small Business Administration Securities [Member]    
Available-for-sale debt securities [Abstract]    
Amortized cost 94,242 45,591
Gross unrealized gains 165 1
Gross unrealized (losses) (351) (1,255)
Fair Value 94,056 44,337
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
LESS THAN 12 MONTHS, Fair Value 0 43,097
LESS THAN 12 MONTHS, Unrealized (Losses) 0 (1,255)
OVER 12 MONTHS, Fair Value 28,318 0
OVER 12 MONTHS, Unrealized (Losses) (351) 0
TOTAL, Fair Value 28,318 43,097
TOTAL, Unrealized (Losses) (351) (1,255)
Obligations of States and Political Subdivisions [Member]    
Available-for-sale debt securities [Abstract]    
Amortized cost 15,023 17,154
Gross unrealized gains 73 49
Gross unrealized (losses) (146) (293)
Fair Value 14,950 16,910
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
LESS THAN 12 MONTHS, Fair Value 2,089 11,036
LESS THAN 12 MONTHS, Unrealized (Losses) (6) (279)
OVER 12 MONTHS, Fair Value 7,198 881
OVER 12 MONTHS, Unrealized (Losses) (140) (14)
TOTAL, Fair Value 9,287 11,917
TOTAL, Unrealized (Losses) (146) (293)
Non-bank Qualified Obligations of States and Political Subdivisions [Member]    
Available-for-sale debt securities [Abstract]    
Amortized cost 970,288 1,140,884
Gross unrealized gains 2,787 826
Gross unrealized (losses) (28,504) (31,825)
Fair Value 944,571 1,109,885
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
LESS THAN 12 MONTHS, Fair Value 112,208 626,693
LESS THAN 12 MONTHS, Unrealized (Losses) (2,443) (13,539)
OVER 12 MONTHS, Fair Value 525,831 358,095
OVER 12 MONTHS, Unrealized (Losses) (26,061) (18,286)
TOTAL, Fair Value 638,039 984,788
TOTAL, Unrealized (Losses) (28,504) (31,825)
Asset-backed Securities [Member]    
Available-for-sale debt securities [Abstract]    
Amortized cost 287,247 310,700
Gross unrealized gains 1,261 2,585
Gross unrealized (losses) (1,215) (257)
Fair Value 287,293 313,028
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
LESS THAN 12 MONTHS, Fair Value 162,550 146,638
LESS THAN 12 MONTHS, Unrealized (Losses) (1,215) (257)
OVER 12 MONTHS, Fair Value 0 0
OVER 12 MONTHS, Unrealized (Losses) 0 0
TOTAL, Fair Value 162,550 146,638
TOTAL, Unrealized (Losses) (1,215) (257)
Mortgage-backed Securities [Member]    
Available-for-sale debt securities [Abstract]    
Amortized cost 366,467 378,301
Gross unrealized gains 157 0
Gross unrealized (losses) (12,438) (14,236)
Fair Value 354,186 364,065
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
LESS THAN 12 MONTHS, Fair Value 4,063 121,217
LESS THAN 12 MONTHS, Unrealized (Losses) (16) (3,292)
OVER 12 MONTHS, Fair Value 321,021 242,849
OVER 12 MONTHS, Unrealized (Losses) (12,422) (10,944)
TOTAL, Fair Value 325,084 364,066
TOTAL, Unrealized (Losses) (12,438) (14,236)
Debt Securities [Member]    
Available-for-sale debt securities [Abstract]    
Amortized cost 1,733,267 1,892,630
Gross unrealized gains 4,443 3,461
Gross unrealized (losses) (42,654) (47,866)
Fair Value 1,695,056 1,848,225
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
LESS THAN 12 MONTHS, Fair Value 280,910 948,681
LESS THAN 12 MONTHS, Unrealized (Losses) (3,680) (18,622)
OVER 12 MONTHS, Fair Value 882,368 601,825
OVER 12 MONTHS, Unrealized (Losses) (38,974) (29,244)
TOTAL, Fair Value 1,163,278 1,550,506
TOTAL, Unrealized (Losses) (42,654) (47,866)
Common Equities and Mutual Funds [Member]    
Available-for-sale debt securities [Abstract]    
Amortized cost 3,494 3,172
Gross unrealized gains 357 635
Gross unrealized (losses) (14) (7)
Fair Value 3,837 3,800
Available-for-sale securities in a continuous unrealized loss position [Abstract]    
LESS THAN 12 MONTHS, Fair Value 2,001 1,818
LESS THAN 12 MONTHS, Unrealized (Losses) (14) (7)
OVER 12 MONTHS, Fair Value 0 0
OVER 12 MONTHS, Unrealized (Losses) 0 0
TOTAL, Fair Value 2,001 1,818
TOTAL, Unrealized (Losses) $ (14) $ (7)
v3.10.0.1
SECURITIES - Held to Maturity (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Sep. 30, 2018
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]    
Gross unrealized gains $ 0 $ 0
Gross unrealized (losses) (9,146) (11,180)
Securities held to maturity 151,590 160,563
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]    
LESS THAN 12 MONTHS, Fair Value 0 5,767
LESS THAN 12 MONTHS, Unrealized (Losses) 0 (287)
OVER 12 MONTHS, Fair Value 151,590 154,796
OVER 12 MONTHS, Unrealized (Losses) (9,146) (10,893)
TOTAL, Fair Value 151,590 160,563
TOTAL, Unrealized (Losses) (9,146) (11,180)
AMORTIZED COST    
Due after ten years 153,075 163,893
Total 153,075 163,893
Mortgage-backed securities 7,661 7,850
Total held to maturity securities at cost 160,736 171,743
FAIR VALUE    
Due after ten years 144,255 153,135
Total 144,255 153,135
Mortgage-backed securities 7,335 7,428
Total held to maturity securities 151,590 160,563
Non-bank Qualified Obligations of States and Political Subdivisions [Member]    
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]    
Gross unrealized gains 0 0
Gross unrealized (losses) (8,820) (10,758)
Securities held to maturity 144,255 153,135
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]    
LESS THAN 12 MONTHS, Fair Value 0 5,767
LESS THAN 12 MONTHS, Unrealized (Losses) 0 (287)
OVER 12 MONTHS, Fair Value 144,255 147,368
OVER 12 MONTHS, Unrealized (Losses) (8,820) (10,471)
TOTAL, Fair Value 144,255 153,135
TOTAL, Unrealized (Losses) (8,820) (10,758)
AMORTIZED COST    
Total held to maturity securities at cost 153,075 163,893
FAIR VALUE    
Total held to maturity securities 144,255 153,135
Mortgage-backed Securities [Member]    
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]    
Gross unrealized gains 0 0
Gross unrealized (losses) (326) (422)
Securities held to maturity 7,335 7,428
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]    
LESS THAN 12 MONTHS, Fair Value 0 0
LESS THAN 12 MONTHS, Unrealized (Losses) 0 0
OVER 12 MONTHS, Fair Value 7,335 7,428
OVER 12 MONTHS, Unrealized (Losses) (326) (422)
TOTAL, Fair Value 7,335 7,428
TOTAL, Unrealized (Losses) (326) (422)
AMORTIZED COST    
Total held to maturity securities at cost 7,661 7,850
FAIR VALUE    
Total held to maturity securities $ 7,335 $ 7,428
v3.10.0.1
RENTAL EQUIPMENT, NET Schedule of Rental Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Sep. 30, 2018
Property, Plant and Equipment [Line Items]    
Rental equipment, gross $ 206,242 $ 170,183
Accumulated depreciation (59,427) (62,893)
Rental equipment, Net book value 146,815 107,290
Computers and IT networking equipment    
Property, Plant and Equipment [Line Items]    
Rental equipment, gross 50,122 55,215
Motor vehicles and other    
Property, Plant and Equipment [Line Items]    
Rental equipment, gross 50,259 45,293
Office furniture and equipment    
Property, Plant and Equipment [Line Items]    
Rental equipment, gross 3,756 3,738
Solar panels and equipment    
Property, Plant and Equipment [Line Items]    
Rental equipment, gross $ 102,105 $ 65,938
v3.10.0.1
RENTAL EQUIPMENT, NET Schedule of Operating Leases, Future Minimum Payments (Details)
$ in Thousands
Dec. 31, 2018
USD ($)
Property, Plant and Equipment [Abstract]  
2019 $ 22,679
2020 19,444
2021 14,679
2022 9,283
2023 7,808
2024 and thereafter 18,882
Total $ 92,775
v3.10.0.1
STOCK COMPENSATION (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2017
Number of Shares    
Options outstanding, beginning of period (in shares) 155,961  
Granted (in shares) 0  
Exercised (in shares) (45,132)  
Forfeited or expired (in shares) 0  
Options outstanding, end of period (in shares) 110,829  
Options exercisable, end of period (in shares) 110,829  
Weighted Average Exercise Price    
Options outstanding, beginning of period (in dollars per share) $ 8.48  
Granted (in dollars per share) 0.00  
Exercised (in dollars per share) 8.95  
Forfeited or expired (in dollars per share) 0.00  
Options outstanding, end of period (in dollars per share) 8.29  
Options exercisable, end of period (in dollars per share) $ 8.29  
Weighted Average Remaining Contractual Term    
Options outstanding 1 year 8 months 1 day 1 year 9 months 11 days
Options exercisable 1 year 8 months 1 day  
Aggregate Intrinsic Value    
Options outstanding, beginning of period $ 2,974  
Granted 0  
Exercised 742  
Forfeited or expired 0  
Options outstanding, end of period 1,230  
Options exercisable, end of period $ 1,230  
Number of Shares    
Nonvested shares outstanding, beginning of period (in shares) 1,005,813  
Granted (in shares) 224,102  
Vested (in shares) (245,842)  
Forfeited or expired (in shares) 0  
Nonvested shares outstanding, end of period (in shares) 984,073  
Weighted Average Fair Value at Grant    
Nonvested shares outstanding, beginning of period (in dollars per share) $ 29.89  
Granted (in dollars per share) 25.11  
Vested (in dollars per share) 27.29  
Forfeited or expired (in dollars per share) 0.00  
Nonvested shares outstanding, end of period (in dollars per share) $ 29.45  
Stock based compensation expense not yet recognized in income $ 18,300  
Weighted average remaining period for unrecognized stock based compensation 3 years 1 month 10 days  
v3.10.0.1
INCOME TAXES - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Income Tax Disclosure [Abstract]    
Income tax expense $ (1,691) $ 5,684
Effective tax rate (11.56%) 54.90%
v3.10.0.1
INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Income Tax Disclosure [Abstract]    
Provision at statutory rate $ 3,072 $ 2,540
Tax-exempt income (1,201) (2,068)
State income taxes 701 718
Interim period effective rate adjustment 5,263 717
Tax credit investments, net - federal (9,568) 0
Tax Reform rate adjustment 0 3,635
Other, net 42 142
Income tax expense $ (1,691) $ 5,684
Effective tax rate (11.56%) 54.90%
v3.10.0.1
COMMITMENTS AND CONTINGENCIES (Details)
 3 Months Ended
Feb. 09, 2018
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2018
USD ($)
commitment
Dec. 24, 2018
USD ($)
Sep. 30, 2018
USD ($)
commitment
Oct. 14, 2016
USD ($)
Loss Contingencies [Line Items]            
Unfunded loan commitments     $ 858,100,000   $ 748,800,000  
Number of investment commitments | commitment     0   1,400,000  
Securities, buy (sell) obligations         $ 0  
Concentration Risk, Credit Risk, Financial Instrument, Off-Balance Sheet Valuation Allowance     $ 100,000   $ 100,000  
Inter National Bank [Member]            
Loss Contingencies [Line Items]            
Amount of shortfall in depository account   $ 10,500,000        
Card Limited, LLC v. MetaBank dba Meta Payment Systems [Member]            
Loss Contingencies [Line Items]            
Estimate of possible loss           $ 4,000,000
AFS/IBEX, A Division of MetaBank V. Aegis Managing Agency Limited [Member]            
Loss Contingencies [Line Items]            
Loss Contingency, Damages Sought, Value $ 1,600,000          
Ohio Valley Bank Company V. Metabank dba Refund Advantage, Case No. 18 CV 134 [Member]            
Loss Contingencies [Line Items]            
Estimate of possible loss       $ 3,000,000    
v3.10.0.1
REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) - USD ($)
Dec. 31, 2018
Oct. 01, 2018
Sep. 30, 2018
Disaggregation of Revenue [Line Items]      
Retained earnings $ 228,453,000   $ 213,048,000
Accounting Standards Update 2014-09 [Member]      
Disaggregation of Revenue [Line Items]      
Cumulative Effect of New Accounting Principle in Period of Adoption   $ 1,502,000  
Refund Transfer Fees [Member]      
Disaggregation of Revenue [Line Items]      
Accounts Receivable, Gross, Current $ 113,935   $ 827,039
v3.10.0.1
REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Revenue From Contracts with Customers by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Disaggregation of Revenue [Line Items]    
Net interest income $ 60,272 $ 26,196
Noninterest income 37,751 29,268
Revenues 98,023 55,464
Meta Payment Systems [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 22,826 28,101
Meta Payment Systems [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Net interest income 9,400 4,669
Noninterest income 22,826 28,101
Revenues 32,226 32,770
Banking [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Net interest income 51,792 15,597
Noninterest income 14,269 1,485
Revenues 66,061 17,082
Corporate Services/Other [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 656 (318)
Corporate Services/Other [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Net interest income (920) 5,930
Noninterest income 656 (318)
Revenues (264) 5,612
Refund Transfer Fees [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 261 192
Refund Transfer Fees [Member] | Meta Payment Systems [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 261 192
Refund Transfer Fees [Member] | Banking [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Refund Transfer Fees [Member] | Corporate Services/Other [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Tax Advance Product Fees [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 1,685 1,947
Tax Advance Product Fees [Member] | Meta Payment Systems [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 1,685 1,947
Tax Advance Product Fees [Member] | Banking [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Tax Advance Product Fees [Member] | Corporate Services/Other [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Credit Card [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 19,351 25,247
Credit Card [Member] | Meta Payment Systems [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 19,273 25,174
Credit Card [Member] | Banking [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 78 73
Credit Card [Member] | Corporate Services/Other [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Rental Income [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 10,890 0
Rental Income [Member] | Meta Payment Systems [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Rental Income [Member] | Banking [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 10,890 0
Rental Income [Member] | Corporate Services/Other [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Loan and Lease Fees [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 1,247 1,292
Loan and Lease Fees [Member] | Meta Payment Systems [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Loan and Lease Fees [Member] | Banking [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 1,247 1,292
Loan and Lease Fees [Member] | Corporate Services/Other [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Bank Owned Life Insurance [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 642 669
Bank Owned Life Insurance [Member] | Meta Payment Systems [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Bank Owned Life Insurance [Member] | Banking [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Bank Owned Life Insurance [Member] | Corporate Services/Other [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 642 669
Deposit Account [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 1,938 848
Deposit Account [Member] | Meta Payment Systems [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 1,534 728
Deposit Account [Member] | Banking [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 404 120
Deposit Account [Member] | Corporate Services/Other [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Loss on Sale of Securities, Available for Sale [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income (22) (1,010)
Loss on Sale of Securities, Available for Sale [Member] | Meta Payment Systems [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Loss on Sale of Securities, Available for Sale [Member] | Banking [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Loss on Sale of Securities, Available for Sale [Member] | Corporate Services/Other [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income (22) (1,010)
Gain on Loans and Leases [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 867 0
Gain on Loans and Leases [Member] | Meta Payment Systems [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Gain on Loans and Leases [Member] | Banking [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 867 0
Gain on Loans and Leases [Member] | Corporate Services/Other [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Loss on Foreclosed Real Estate [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 15 (19)
Loss on Foreclosed Real Estate [Member] | Meta Payment Systems [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Loss on Foreclosed Real Estate [Member] | Banking [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 15 (19)
Loss on Foreclosed Real Estate [Member] | Corporate Services/Other [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Other Revenues for Financial Assets and Liabilities [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 877 102
Other Revenues for Financial Assets and Liabilities [Member] | Meta Payment Systems [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 73 60
Other Revenues for Financial Assets and Liabilities [Member] | Banking [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income 768 19
Other Revenues for Financial Assets and Liabilities [Member] | Corporate Services/Other [Member] | Operating Segments [Member]    
Disaggregation of Revenue [Line Items]    
Noninterest income $ 36 $ 23
v3.10.0.1
FAIR VALUE MEASUREMENTS - Assets Measured at Fair Value on Recurring and Non-recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Sep. 30, 2018
Available-for-sale debt securities [Abstract]    
Mortgage-backed securities available for sale, at fair value $ 354,186 $ 364,065
Total available for sale securities 1,695,056 1,852,025
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]    
Total held to maturity securities 151,590 160,563
Level 1 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 0 0
Available-for-sale debt securities [Abstract]    
Total available for sale securities 0 3,800
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]    
Total held to maturity securities 0 0
Level 2 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 0 0
Available-for-sale debt securities [Abstract]    
Total available for sale securities 1,695,056 1,848,225
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]    
Total held to maturity securities 151,590 160,974
Level 3 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 3,284,648 2,927,755
Available-for-sale debt securities [Abstract]    
Total available for sale securities 0 0
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]    
Total held to maturity securities 0 0
Nonrecurring [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 33,033 36,463
Nonrecurring [Member] | Level 1 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 0 0
Nonrecurring [Member] | Level 2 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 0 0
Nonrecurring [Member] | Level 3 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 33,033 36,463
Recurring [Member]    
Available-for-sale debt securities [Abstract]    
Small business administration securities 94,056 44,337
Obligations of states and political subdivisions 14,950 16,910
Non-bank qualified obligations of states and political subdivisions 944,571 1,109,885
Asset-baked securities 287,293 313,028
Mortgage-backed securities 354,186 364,065
Mortgage-backed securities available for sale, at fair value 1,695,056 1,848,225
Common equities and mutual funds 3,837 3,800
Total available for sale securities   1,852,025
Recurring [Member] | Level 1 [Member]    
Available-for-sale debt securities [Abstract]    
Small business administration securities 0 0
Obligations of states and political subdivisions 0 0
Non-bank qualified obligations of states and political subdivisions 0 0
Asset-baked securities 0 0
Mortgage-backed securities 0 0
Mortgage-backed securities available for sale, at fair value 0 0
Common equities and mutual funds 3,837 3,800
Total available for sale securities   3,800
Recurring [Member] | Level 2 [Member]    
Available-for-sale debt securities [Abstract]    
Small business administration securities 94,056 44,337
Obligations of states and political subdivisions 14,950 16,910
Non-bank qualified obligations of states and political subdivisions 944,571 1,109,885
Asset-baked securities 287,293 313,028
Mortgage-backed securities 354,186 364,065
Mortgage-backed securities available for sale, at fair value 1,695,056 1,848,225
Common equities and mutual funds 0 0
Total available for sale securities   1,848,225
Recurring [Member] | Level 3 [Member]    
Available-for-sale debt securities [Abstract]    
Small business administration securities 0 0
Obligations of states and political subdivisions 0 0
Non-bank qualified obligations of states and political subdivisions 0 0
Asset-baked securities 0 0
Mortgage-backed securities 0 0
Mortgage-backed securities available for sale, at fair value 0 0
Common equities and mutual funds 0 0
Total available for sale securities   0
Asset Based Lending [Member] | Nonrecurring [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 761 57
Asset Based Lending [Member] | Nonrecurring [Member] | Level 1 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 0 0
Asset Based Lending [Member] | Nonrecurring [Member] | Level 2 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 0 0
Asset Based Lending [Member] | Nonrecurring [Member] | Level 3 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 761 57
Factoring [Member] | Nonrecurring [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 724 1,899
Factoring [Member] | Nonrecurring [Member] | Level 1 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 0 0
Factoring [Member] | Nonrecurring [Member] | Level 2 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 0 0
Factoring [Member] | Nonrecurring [Member] | Level 3 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 724 1,899
Finance Leases Portfolio Segment [Member] | Nonrecurring [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value   2,869
Finance Leases Portfolio Segment [Member] | Nonrecurring [Member] | Level 1 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value   0
Finance Leases Portfolio Segment [Member] | Nonrecurring [Member] | Level 2 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value   0
Finance Leases Portfolio Segment [Member] | Nonrecurring [Member] | Level 3 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value   2,869
Commercial Portfolio Segment [Member] | Nonrecurring [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 1,485 4,825
Commercial Portfolio Segment [Member] | Nonrecurring [Member] | Level 1 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 0 0
Commercial Portfolio Segment [Member] | Nonrecurring [Member] | Level 2 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 0 0
Commercial Portfolio Segment [Member] | Nonrecurring [Member] | Level 3 [Member]    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value $ 1,485 $ 4,825
v3.10.0.1
SEGMENT REPORTING (Details)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
USD ($)
segment
Dec. 31, 2017
USD ($)
Sep. 30, 2018
USD ($)
Segment Reporting Information [Line Items]      
Number of reportable segments | segment 3    
Segment data [Abstract]      
Net interest income $ 60,272 $ 26,196  
Provision for loan and lease losses 9,099 1,068  
Noninterest income 37,751 29,268  
Noninterest expense 74,295 44,042  
Income (loss) before income tax expense (benefit) 14,629 10,354  
Total assets 6,182,765 5,417,963 $ 5,835,067
Total goodwill 303,270 98,723 303,270
Total deposits 4,936,447 3,513,645 $ 4,430,987
Meta Payment Systems [Member]      
Segment data [Abstract]      
Net interest income 9,400 4,669  
Provision for loan and lease losses 1,495 1,017  
Noninterest income 22,826 28,101  
Noninterest expense 21,362 26,934  
Income (loss) before income tax expense (benefit) 9,369 4,819  
Total assets 302,368 380,442  
Total goodwill 87,145 87,145  
Total deposits 2,753,702 2,768,736  
Banking [Member]      
Segment data [Abstract]      
Net interest income 51,792 15,597  
Provision for loan and lease losses 7,604 51  
Noninterest income 14,269 1,485  
Noninterest expense 33,843 6,568  
Income (loss) before income tax expense (benefit) 24,614 10,463  
Total assets 3,793,647 1,478,693  
Total goodwill 216,125 11,578  
Total deposits 554,939 236,494  
Corporate Services/Other [Member]      
Segment data [Abstract]      
Net interest income (920) 5,930  
Provision for loan and lease losses 0 0  
Noninterest income 656 (318)  
Noninterest expense 19,090 10,540  
Income (loss) before income tax expense (benefit) (19,354) (4,928)  
Total assets 2,086,750 3,558,828  
Total goodwill 0 0  
Total deposits $ 1,627,806 $ 508,415  
v3.10.0.1
FAIR VALUE MEASUREMENTS - Quantitative Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Foreclosed Assets, net $ 31,548 $ 31,638
Minimum [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Range of estimated selling cost 4.00%  
Maximum [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Range of estimated selling cost 10.00%  
Level 1 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value $ 0 0
Level 2 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 0 0
Level 3 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 3,284,648 2,927,755
Impaired Loans [Member] | Level 3 [Member] | Valuation, Market Approach [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 1,485 4,825
Foreclosed Assets [Member] | Level 3 [Member] | Valuation, Market Approach [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 31,548 31,638
Nonrecurring [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 33,033 36,463
Nonrecurring [Member] | Level 1 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 0 0
Nonrecurring [Member] | Level 2 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 0 0
Nonrecurring [Member] | Level 3 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 33,033 36,463
Nonrecurring [Member] | Finance Leases Portfolio Segment [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value   2,869
Nonrecurring [Member] | Finance Leases Portfolio Segment [Member] | Level 1 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value   0
Nonrecurring [Member] | Finance Leases Portfolio Segment [Member] | Level 2 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value   0
Nonrecurring [Member] | Finance Leases Portfolio Segment [Member] | Level 3 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value   2,869
Nonrecurring [Member] | Commercial Portfolio Segment [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 1,485 4,825
Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Level 1 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 0 0
Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Level 2 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 0 0
Nonrecurring [Member] | Commercial Portfolio Segment [Member] | Level 3 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 1,485 4,825
Nonrecurring [Member] | National Lending [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 1,485 4,825
Nonrecurring [Member] | National Lending [Member] | Level 1 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 0 0
Nonrecurring [Member] | National Lending [Member] | Level 2 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 0 0
Nonrecurring [Member] | National Lending [Member] | Level 3 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 1,485 4,825
Nonrecurring [Member] | Agricultural Operating [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value   4,825
Nonrecurring [Member] | Agricultural Operating [Member] | Level 1 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value   0
Nonrecurring [Member] | Agricultural Operating [Member] | Level 2 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value   0
Nonrecurring [Member] | Agricultural Operating [Member] | Level 3 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value   4,825
Nonrecurring [Member] | Impaired Loans [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 1,485  
Nonrecurring [Member] | Impaired Loans [Member] | Level 1 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 0  
Nonrecurring [Member] | Impaired Loans [Member] | Level 2 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 0  
Nonrecurring [Member] | Impaired Loans [Member] | Level 3 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 1,485  
Nonrecurring [Member] | Asset Based Lending [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 761 57
Nonrecurring [Member] | Asset Based Lending [Member] | Level 1 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 0 0
Nonrecurring [Member] | Asset Based Lending [Member] | Level 2 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 0 0
Nonrecurring [Member] | Asset Based Lending [Member] | Level 3 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 761 57
Nonrecurring [Member] | Factoring [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 724 1,899
Nonrecurring [Member] | Factoring [Member] | Level 1 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 0 0
Nonrecurring [Member] | Factoring [Member] | Level 2 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 0 0
Nonrecurring [Member] | Factoring [Member] | Level 3 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Fair value 724 1,899
Nonrecurring [Member] | Foreclosed Assets [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Foreclosed Assets, net 31,548 31,638
Nonrecurring [Member] | Foreclosed Assets [Member] | Level 1 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Foreclosed Assets, net 0 0
Nonrecurring [Member] | Foreclosed Assets [Member] | Level 2 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Foreclosed Assets, net 0 0
Nonrecurring [Member] | Foreclosed Assets [Member] | Level 3 [Member]    
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)    
Foreclosed Assets, net $ 31,548 $ 31,638
v3.10.0.1
FAIR VALUE MEASUREMENTS - Balance Sheet Grouping (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Sep. 30, 2018
Financial assets [Abstract]    
Securities available for sale $ 1,695,056 $ 1,852,025
Securities held to maturity 151,590 160,563
Equity Securities, FV-NI 1,800  
Financial liabilities [Abstract]    
Long-term debt 88,983 88,963
Subordinated debentures 231,293 425,759
Level 1 [Member]    
Financial assets [Abstract]    
Cash and cash equivalents 164,169 99,977
Securities available for sale 0 3,800
Securities held to maturity 0 0
Equity Securities, FV-NI 3,837  
Total securities 3,837 3,800
Trade and Loans Receivables Held-for-sale, Net, Not Part of Disposal Group 0 0
Loans receivable [Abstract]    
Total loans receivable 0 0
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure 0 0
Accrued interest receivable, fair value disclosure 22,076 22,016
Financial liabilities [Abstract]    
Noninterest bearing demand deposits 2,739,757 2,405,274
Interest bearing demand deposits, savings, and money markets 235,450 218,347
Certificates of deposit 0 0
Deposits, Wholesale, Non-Maturing 146,227 94,384
Deposits, Wholesale, Certificates of Deposit 0 0
Total deposits 3,121,434 2,718,005
Advances, Fair Value Disclosure 0 0
Federal fund purchased 227,000 422,000
Securities sold under agreements to repurchase 0 0
Long-term debt 0 0
Trust Preferred Securities 0 0
Subordinated debentures 0 0
Accrued interest payable 11,280 7,794
Level 2 [Member]    
Financial assets [Abstract]    
Cash and cash equivalents 0 0
Securities available for sale 1,695,056 1,848,225
Securities held to maturity 151,590 160,974
Equity Securities, FV-NI 0  
Total securities 1,846,646 2,009,199
Trade and Loans Receivables Held-for-sale, Net, Not Part of Disposal Group 33,560 15,606
Loans receivable [Abstract]    
Total loans receivable 0 0
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure 15,600 23,400
Accrued interest receivable, fair value disclosure 0 0
Financial liabilities [Abstract]    
Noninterest bearing demand deposits 0 0
Interest bearing demand deposits, savings, and money markets 0 0
Certificates of deposit 169,397 273,800
Deposits, Wholesale, Non-Maturing 0 0
Deposits, Wholesale, Certificates of Deposit 1,640,910 1,432,146
Total deposits 1,810,307 1,705,946
Advances, Fair Value Disclosure 0 0
Federal fund purchased 0 0
Securities sold under agreements to repurchase 4,226 3,694
Long-term debt 1,860 1,876
Trust Preferred Securities 13,867 13,866
Subordinated debentures 75,000 75,563
Accrued interest payable 0 0
Level 3 [Member]    
Financial assets [Abstract]    
Cash and cash equivalents 0 0
Securities available for sale 0 0
Securities held to maturity 0 0
Equity Securities, FV-NI 0  
Total securities 0 0
Trade and Loans Receivables Held-for-sale, Net, Not Part of Disposal Group 0 0
Loans receivable [Abstract]    
Total loans receivable 3,284,648 2,927,755
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure 0 0
Accrued interest receivable, fair value disclosure 0 0
Financial liabilities [Abstract]    
Noninterest bearing demand deposits 0 0
Interest bearing demand deposits, savings, and money markets 0 0
Certificates of deposit 0 0
Deposits, Wholesale, Non-Maturing 0 0
Deposits, Wholesale, Certificates of Deposit 0 0
Total deposits 0 0
Advances, Fair Value Disclosure 0 0
Federal fund purchased 0 0
Securities sold under agreements to repurchase 0 0
Long-term debt 0 0
Trust Preferred Securities 0 0
Subordinated debentures 0 0
Accrued interest payable 0 0
Carrying Amount [Member]    
Financial assets [Abstract]    
Cash and cash equivalents 164,169 99,977
Securities available for sale 1,695,056 1,852,025
Securities held to maturity 160,736 172,154
Equity Securities, FV-NI 3,837  
Total securities 1,859,629 2,024,179
Trade and Loans Receivables Held-for-sale, Net, Not Part of Disposal Group 33,560 15,606
Loans receivable [Abstract]    
Total loans receivable 3,328,308 2,944,989
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure 15,600 23,400
Accrued interest receivable, fair value disclosure 22,076 22,016
Financial liabilities [Abstract]    
Noninterest bearing demand deposits 2,739,757 2,405,274
Interest bearing demand deposits, savings, and money markets 235,450 218,347
Certificates of deposit 170,629 276,180
Deposits, Wholesale, Non-Maturing 146,227 94,384
Deposits, Wholesale, Certificates of Deposit 1,644,384 1,436,802
Total deposits 4,936,447 4,430,987
Advances, Fair Value Disclosure 0 0
Federal fund purchased 227,000 422,000
Securities sold under agreements to repurchase 4,226 3,694
Long-term debt 1,860 1,876
Trust Preferred Securities 13,662 13,661
Subordinated debentures 73,528 73,491
Accrued interest payable 11,280 7,794
Estimated Fair Value [Member]    
Financial assets [Abstract]    
Cash and cash equivalents 164,169 99,977
Securities available for sale 1,695,056 1,852,025
Securities held to maturity 151,590 160,974
Equity Securities, FV-NI 3,837  
Total securities 1,850,483 2,012,999
Trade and Loans Receivables Held-for-sale, Net, Not Part of Disposal Group 33,560 15,606
Loans receivable [Abstract]    
Total loans receivable 3,284,648 2,927,755
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure 15,600 23,400
Accrued interest receivable, fair value disclosure 22,076 22,016
Financial liabilities [Abstract]    
Noninterest bearing demand deposits 2,739,757 2,405,274
Interest bearing demand deposits, savings, and money markets 235,450 218,347
Certificates of deposit 169,397 273,800
Deposits, Wholesale, Non-Maturing 146,227 94,384
Deposits, Wholesale, Certificates of Deposit 1,640,910 1,432,146
Total deposits 4,931,741 4,423,951
Advances, Fair Value Disclosure 0 0
Federal fund purchased 227,000 422,000
Securities sold under agreements to repurchase 4,226 3,694
Long-term debt 1,860 1,876
Trust Preferred Securities 13,867 13,866
Subordinated debentures 75,000 75,563
Accrued interest payable 11,280 7,794
Loans Receivable [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 1,158,520 1,076,782
Loans Receivable [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 1,179,065 1,098,706
Loans Receivable [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 1,158,520 1,076,782
Loans Receivable [Member] | SBA/USDA [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | SBA/USDA [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | SBA/USDA [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 67,891 61,072
Loans Receivable [Member] | SBA/USDA [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 67,893 59,374
Loans Receivable [Member] | SBA/USDA [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 67,891 61,072
Loans Receivable [Member] | Other Commercial Finance [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Other Commercial Finance [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Other Commercial Finance [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 89,859 83,111
Loans Receivable [Member] | Other Commercial Finance [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 89,402 85,145
Loans Receivable [Member] | Other Commercial Finance [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 89,859 83,111
Loans Receivable [Member] | Commercial Operating [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Commercial Operating [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Commercial Operating [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 1,602,146 1,506,969
Loans Receivable [Member] | Commercial Operating [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 1,617,880 1,509,849
Loans Receivable [Member] | Commercial Operating [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 1,602,146 1,506,969
Loans Receivable [Member] | Consumer Credit Products [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Consumer Credit Products [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Consumer Credit Products [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 95,310 80,633
Loans Receivable [Member] | Consumer Credit Products [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 96,144 80,605
Loans Receivable [Member] | Consumer Credit Products [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 95,310 80,633
Loans Receivable [Member] | Other Consumer Finance [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Other Consumer Finance [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Other Consumer Finance [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 178,616 197,320
Loans Receivable [Member] | Other Consumer Finance [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 182,510 189,756
Loans Receivable [Member] | Other Consumer Finance [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 178,616 197,320
Loans Receivable [Member] | Consumer [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Consumer [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Consumer [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 273,926 277,953
Loans Receivable [Member] | Consumer [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 278,654 270,361
Loans Receivable [Member] | Consumer [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 273,926 277,953
Loans Receivable [Member] | Tax Services [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Tax Services [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Tax Services [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 76,568 1,073
Loans Receivable [Member] | Tax Services [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 76,575 1,073
Loans Receivable [Member] | Tax Services [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 76,568 1,073
Loans Receivable [Member] | Warehouse Agreement Borrowings [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Warehouse Agreement Borrowings [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Warehouse Agreement Borrowings [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 173,488 64,978
Loans Receivable [Member] | Warehouse Agreement Borrowings [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 176,134 65,000
Loans Receivable [Member] | Warehouse Agreement Borrowings [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 173,488 64,978
Loans Receivable [Member] | National Lending [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | National Lending [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | National Lending [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 2,126,128 1,850,973
Loans Receivable [Member] | National Lending [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 2,149,243 1,846,283
Loans Receivable [Member] | National Lending [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 2,126,128 1,850,973
Loans Receivable [Member] | Commercial Real Estate and Operating [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Commercial Real Estate and Operating [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Commercial Real Estate and Operating [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 849,384 773,203
Loans Receivable [Member] | Commercial Real Estate and Operating [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 863,753 790,890
Loans Receivable [Member] | Commercial Real Estate and Operating [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 849,384 773,203
Loans Receivable [Member] | 1-4 Family Real Estate [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | 1-4 Family Real Estate [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | 1-4 Family Real Estate [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 252,230 244,730
Loans Receivable [Member] | 1-4 Family Real Estate [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 256,341 247,318
Loans Receivable [Member] | 1-4 Family Real Estate [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 252,230 244,730
Loans Receivable [Member] | Agricultural Real Estate [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Agricultural Real Estate [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Loans Receivable [Member] | Agricultural Real Estate [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 56,906 58,849
Loans Receivable [Member] | Agricultural Real Estate [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 58,971 60,498
Loans Receivable [Member] | Agricultural Real Estate [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 56,906 58,849
Financing Receivable [Member] | Asset Based Lending [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Financing Receivable [Member] | Asset Based Lending [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Financing Receivable [Member] | Asset Based Lending [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 541,707 477,471
Financing Receivable [Member] | Asset Based Lending [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 554,072 477,917
Financing Receivable [Member] | Asset Based Lending [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 541,707 477,471
Financing Receivable [Member] | Factoring [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Financing Receivable [Member] | Factoring [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Financing Receivable [Member] | Factoring [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 281,731 283,424
Financing Receivable [Member] | Factoring [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 284,912 284,221
Financing Receivable [Member] | Factoring [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 281,731 283,424
Financing Receivable [Member] | Finance Leases Portfolio Segment [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Financing Receivable [Member] | Finance Leases Portfolio Segment [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Financing Receivable [Member] | Finance Leases Portfolio Segment [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 291,205 264,679
Financing Receivable [Member] | Finance Leases Portfolio Segment [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 290,889 265,315
Financing Receivable [Member] | Finance Leases Portfolio Segment [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable 291,205 264,679
Financing Receivable [Member] | Commercial Insurance Premium Finance [Member] | Level 1 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Financing Receivable [Member] | Commercial Insurance Premium Finance [Member] | Level 2 [Member]    
Loans receivable [Abstract]    
Total loans receivable 0 0
Financing Receivable [Member] | Commercial Insurance Premium Finance [Member] | Level 3 [Member]    
Loans receivable [Abstract]    
Total loans receivable 329,753 337,212
Financing Receivable [Member] | Commercial Insurance Premium Finance [Member] | Carrying Amount [Member]    
Loans receivable [Abstract]    
Total loans receivable 330,712 337,877
Financing Receivable [Member] | Commercial Insurance Premium Finance [Member] | Estimated Fair Value [Member]    
Loans receivable [Abstract]    
Total loans receivable $ 329,753 $ 337,212
v3.10.0.1
SUBSEQUENT EVENTS (Details)
$ in Millions
Jan. 30, 2019
USD ($)
Chief Executive Officer [Member] | Subsequent Event [Member]  
Subsequent Event [Line Items]  
Severance Costs $ 6.1
v3.10.0.1
Label Element Value
Accounting Standards Update 2014-09 [Member] | Parent [Member]  
Cumulative Effect of New Accounting Principle in Period of Adoption us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption $ 1,502,000