META FINANCIAL GROUP INC, 10-Q filed on 2/8/2021
Quarterly Report
v3.20.4
Cover Page - shares
 3 Months Ended
Dec. 31, 2020
Feb. 03, 2021
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Dec. 31, 2020  
Document Transition Report false  
Entity File Number 0-22140  
Entity Registrant Name META FINANCIAL GROUP INC  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 42-1406262  
Entity Address, Address Line One 5501 South Broadband Lane  
Entity Address, City or Town Sioux Falls  
Entity Address, State or Province SD  
Entity Address, Postal Zip Code 57108  
City Area Code 605  
Local Phone Number 782-1767  
Title of 12(b) Security Common Stock, $.01 par value  
Trading Symbol CASH  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   32,248,629
Entity Central Index Key 0000907471  
Current Fiscal Year End Date --09-30  
Document Fiscal Year Focus 2021  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.20.4
Condensed Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Dec. 31, 2020
Sep. 30, 2020
ASSETS    
Cash and cash equivalents $ 1,586,451 $ 427,367
Investment securities available for sale, at fair value 797,363 814,495
Mortgage-backed securities available for sale, at fair value 430,761 453,607
Investment securities held to maturity, at cost 76,176 87,183
Mortgage-backed securities held to maturity, at cost 5,152 5,427
Loans held for sale 133,659 183,577
Loans and leases 3,448,675 3,322,765
Allowance for credit losses (72,389) (56,188)
Federal Reserve Bank and Federal Home Loan Bank stocks, at cost 27,138 27,138
Accrued interest receivable 17,133 16,628
Premises, furniture, and equipment, net 39,932 41,608
Rental equipment, net 206,732 205,964
Bank-owned life insurance 92,937 92,315
Foreclosed real estate and repossessed assets. net 7,186 9,957
Goodwill 309,505 309,505
Intangible assets 39,660 41,692
Prepaid assets 11,270 8,328
Deferred taxes, net 24,411 17,723
Other assets 82,763 82,983
Total assets 7,264,515 6,092,074
Deposits:    
Noninterest-bearing checking 5,581,597 4,356,630
Interest-bearing checking 274,504 157,571
Savings deposits 54,080 47,866
Money market deposits 56,440 48,494
Time certificates of deposit 13,522 20,223
Wholesale deposits 227,648 348,416
Total deposits 6,207,791 4,979,200
Short-term borrowings 0 0
Long-term borrowings 96,760 98,224
Accrued interest payable 2,068 1,923
Accrued expenses and other liabilities 144,686 165,419
Total liabilities 6,451,305 5,244,766
STOCKHOLDERS’ EQUITY    
Preferred stock, 3,000,000 shares authorized, no shares issued and no shares outstanding at December 31, 2020 and September 30, 2020, respectively 0 0
Additional paid-in capital 598,669 594,569
Retained earnings 198,000 234,927
Accumulated other comprehensive income 20,119 17,542
Treasury stock, at cost, 197,375 and 118,274 common shares at December 31, 2020 and September 30, 2020, respectively (5,440) (3,677)
Total equity attributable to parent 811,674 843,705
Noncontrolling interest 1,536 3,603
Total stockholders’ equity 813,210 847,308
Total liabilities and stockholders’ equity 7,264,515 6,092,074
Common stock, $0.01 par value; 90,000,000 shares authorized, 32,817,626 and 34,479,164 shares issued, 32,620,251 and 34,360,890 shares outstanding at December 31, 2020 and September 30, 2020, respectively    
STOCKHOLDERS’ EQUITY    
Common stock 326 344
Common stock, Nonvoting, $0.01 par value; 3,000,000 shares authorized, no shares issued, none outstanding at December 31, 2020 and September 30, 2020, respectively    
STOCKHOLDERS’ EQUITY    
Common stock $ 0 $ 0
v3.20.4
Condensed Consolidated Statements of Financial Condition (Parenthetical) - $ / shares
Dec. 31, 2020
Sep. 30, 2020
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
Treasury stock (in shares) 197,375 118,274
Common Stock    
STOCKHOLDERS’ EQUITY    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 90,000,000 90,000,000
Common stock, shares issued (in shares) 32,817,626 34,479,164
Common stock, shares outstanding (in shares) 32,620,251 34,360,890
Common Stock, Nonvoting    
STOCKHOLDERS’ EQUITY    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 3,000,000 3,000,000
Common stock, shares issued (in shares) 0 0
Common stock, shares outstanding (in shares) 0 0
v3.20.4
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Interest and dividend income:    
Loans and leases, including fees $ 61,655 $ 68,702
Mortgage-backed securities 2,123 2,389
Other investments 4,368 6,534
Total interest and dividend income 68,146 77,625
Interest expense:    
Deposits 797 9,340
FHLB advances and other borrowings 1,350 3,634
Total interest expense 2,147 12,974
Net interest income 65,999 64,651
Provision for credit losses 6,089 3,407
Net interest income after provision for credit losses 59,910 61,244
Noninterest income:    
Gain (loss) on sale of other 2,847 (2,568)
Other income 7,315 3,246
Total noninterest income 45,455 37,483
Noninterest expense:    
Compensation and benefits 32,331 34,268
Refund transfer product expense 61 173
Tax advance product expense 370 1,132
Card processing 6,117 5,607
Occupancy and equipment expense 6,888 6,655
Operating lease equipment depreciation 7,581 8,280
Legal and consulting 5,247 4,674
Intangible amortization 2,013 2,676
Impairment expense 1,159 242
Other expense 10,808 12,091
Total noninterest expense 72,575 75,798
Income before income tax expense 32,790 22,929
Income tax expense 3,533 680
Net income before noncontrolling interest 29,257 22,249
Net income attributable to noncontrolling interest 1,220 1,181
Net income attributable to parent $ 28,037 $ 21,068
Earnings per common share    
Basic (in dollars per share) $ 0.84 $ 0.56
Diluted (in dollars per share) $ 0.84 $ 0.56
Refund transfer product fees    
Noninterest income:    
Noninterest income: $ 647 $ 192
Total noninterest income 647 192
Tax advance product fees    
Noninterest income:    
Noninterest income: 1,960 2,276
Total noninterest income 1,960 2,276
Payment card and deposit fees    
Noninterest income:    
Noninterest income: 22,564 21,499
Total noninterest income 22,564 21,499
Other bank and deposit fees    
Noninterest income:    
Noninterest income: 237 487
Total noninterest income 237 487
Rental income    
Noninterest income:    
Noninterest income: 9,885 12,351
Total noninterest income $ 9,885 $ 12,351
v3.20.4
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Statement of Comprehensive Income [Abstract]    
Net income before noncontrolling interest $ 29,257 $ 22,249
Other comprehensive income (loss):    
Change in net unrealized gain (loss) on debt securities 2,846 (3,412)
Total 2,846 (3,412)
Unrealized gain on currency translation 445 116
Deferred income tax effect 714 (852)
Total other comprehensive income (loss) 2,577 (2,444)
Total comprehensive income 31,834 19,805
Total comprehensive income attributable to noncontrolling interest 1,220 1,181
Comprehensive income attributable to parent $ 30,614 $ 18,624
v3.20.4
Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($)
$ in Thousands
Total
Adjustment
Total Meta Stockholders’ Equity
Total Meta Stockholders’ Equity
Adjustment
    Common Stock
  Additional Paid-in Capital
    Retained Earnings
    Retained Earnings
Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax
    Treasury Stock
Noncontrolling Interest
Noncontrolling Interest
Adjustment
Beginning Balance at Sep. 30, 2019 $ 843,958   $ 839,911   $ 378 $ 580,826 $ 252,813   $ 6,339 $ (445) $ 4,047  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Cash dividends declared on common stock (1,870)   (1,870)       (1,870)          
Issuance of common shares due to exercise of stock options 118   118     118            
Issuance of common shares due to restricted stock 2   2   2              
Issuance of common shares due to ESOP 3,220   3,220   1 3,219            
Shares repurchased (30,748)   (30,748)   (9) 9 (28,006)     (2,742)    
Stock compensation 3,506   3,506     3,506            
Total other comprehensive income (loss) (2,444)   (2,444)           (2,444)      
Net income 22,249   21,068       21,068       1,181  
Net investment by (distribution to) noncontrolling interests (923)                   (923)  
Ending Balance at Dec. 31, 2019 837,068   832,763   372 587,678 244,005   3,895 (3,187) 4,305  
Beginning Balance at Sep. 30, 2020 847,308 $ (10,803) 843,705 $ (8,351) 344 594,569 234,927 $ (8,351) 17,542 (3,677) 3,603 $ (2,452)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Cash dividends declared on common stock (1,613)   (1,613)       (1,613)          
Issuance of common shares due to ESOP 3,036   3,036   2 3,034            
Shares repurchased (56,763)   (56,763)   (20) 20 (55,000)     (1,763)    
Stock compensation 1,046   1,046     1,046            
Total other comprehensive income (loss) 2,577   2,577           2,577      
Net income 29,257   28,037       28,037       1,220  
Net investment by (distribution to) noncontrolling interests (835)                   (835)  
Ending Balance at Dec. 31, 2020 $ 813,210   $ 811,674   $ 326 $ 598,669 $ 198,000   $ 20,119 $ (5,440) $ 1,536  
v3.20.4
Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares
 3 Months Ended 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]      
Accounting Standards Update [Extensible List]     us-gaap:AccountingStandardsUpdate201613Member
Cash dividends declared on common stock (in dollars per share) $ 0.05 $ 0.05  
v3.20.4
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net income before noncontrolling interest $ 29,257 $ 22,249
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation, amortization and accretion, net 14,068 15,302
Stock compensation 1,046 3,506
Provision (recovery):    
Provision for credit losses 6,089 3,407
Deferred taxes (7,402) (16)
Loans held for sale:    
Originations (303,501) (16,175)
Proceeds from sales 451,652 143,035
Net change 5,425 11,111
Fair value adjustment of foreclosed real estate 123 83
Net realized (gain) loss:    
Other assets 0 108
Foreclosed real estate and repossessed assets 0 5,039
Loans held for sale (3,492) (1,851)
Leases receivable and equipment 633 (685)
Net change:    
Other assets (2,075) (12,917)
Accrued interest payable 145 (2,794)
Accrued expenses and other liabilities (20,733) (33,892)
Accrued interest receivable (506) 618
Change in bank-owned life insurance value (621) (631)
Net cash provided by operating activities 170,108 135,497
Securities available for sale:    
Purchases (23,963) 0
Proceeds from maturities and principal repayments 64,982 52,592
Securities held to maturity:    
Proceeds from maturities and principal repayments 10,755 11,062
Loans and leases:    
Purchases (64,930) (18,813)
Proceeds from sales 6,923 3,099
Net change (170,684) (167,929)
Proceeds from sales of foreclosed real estate and repossessed assets 2,657 23,085
Federal Reserve Bank and Federal Home Loan Bank stock:    
Purchases 0 (244,240)
Redemption 0 261,360
Rental equipment:    
Purchases (13,146) (17,956)
Proceeds from sales 5,609 2,250
Net change 0 3,124
Premises, furniture, and equipment:    
Purchases (582) (2,108)
Net cash (used in) investing activities (182,379) (94,474)
Cash flows from financing activities:    
Checking, savings, and money market deposits 1,356,060 674,696
Time certificates of deposit (6,701) (86,683)
Wholesale deposits (120,768) (118,481)
FHLB and other borrowings 0 (20,000)
Federal funds 0 (428,000)
Securities sold under agreements to repurchase 0 (4,019)
Distribution to noncontrolling interests (835) (923)
Proceeds from other liabilities 0 1,205
Other liabilities (1,498) (2,194)
Capital lease obligations (8) (1,818)
Cash dividends paid (1,613) (1,870)
Issuance of common stock due to ESOP 3,036 3,220
Issuance of common stock due to restricted stock 0 2
Proceeds from exercise of stock options and issuance of common stock 0 118
Shares repurchased (56,763) (30,748)
Net cash provided by (used in) financing activities 1,170,910 (15,495)
Effect of exchange rate changes on cash 445 116
Net change in cash and cash equivalents 1,159,084 25,644
Cash and cash equivalents at beginning of fiscal year 427,367 126,545
Cash and cash equivalents at end of fiscal period 1,586,451 152,189
Supplemental disclosure of cash flow information    
Interest 2,002 10,180
Income taxes 289 220
Franchise taxes 50 40
Other taxes 14 12
Supplemental schedule of non-cash investing activities    
Loans and leases to foreclosed real estate and repossessed assets 9 41
Loans and leases to rental equipment 1,353 759
Rental equipment to loan and leases 37 599
Loans and leases to held for sale 100,442 251,913
Other assets to held for sale 284 7,836
Deposits to held for sale 0 286,648
Recognition of operating lease ROU assets, net of remeasurements $ 0 $ 27,019
v3.20.4
BASIS OF PRESENTATION
 3 Months Ended
Dec. 31, 2020
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, 2020 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 30, 2020. 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 months ended December 31, 2020 are not necessarily indicative of the results expected for the fiscal year ending September 30, 2021.
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.
v3.20.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES ("ASU")
 3 Months Ended
Dec. 31, 2020
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, 2020 remain substantially unchanged with the exception of the accounting policies for allowance for credit losses and securities impairment as a result of adopting ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and related ASUs, as described below.

Allowance for Credit Losses ("ACL"). The ACL represents management’s estimate of current credit losses expected to be incurred by the loan and lease portfolio over the life of each financial asset as of the balance sheet date. The Company individually evaluates loans and leases that do not share similar risk characteristics with other financial assets for impairment, which generally means loans and leases identified as troubled debt restructures or loans and leases on nonaccrual status. All other loans and leases are evaluated collectively for impairment. A reserve for unfunded credit commitments such as letters of credit and binding unfunded loan commitments is recorded in other liabilities on the Condensed Consolidated Statements of Financial Condition.

Individually evaluated loans and leases are a key component of the ACL. Generally, the Company measures impairment on individually evaluated loans based on the fair value of the collateral less estimated selling costs, as the Company considers these financial assets to be collateral dependent. If an individually evaluated loan or lease is not collateral dependent, impairment is measured at the present value of expected future cash flows discounted at the loan or lease initial effective interest rate.

The impairment of all other loans and leases is evaluated collectively by various characteristics. The collective evaluation of expected losses in all commercial finance portfolios is based on a cohort loss rate and adjustments for forward-looking information, including industry and macroeconomic forecasts. The cohort loss rate is a life of loan loss rate that immediately reverts to historical loss information for the remaining maturity of the financial asset. Management has elected to use a twelve-month reasonable and supportable forecast for forward-looking information. Factors utilized in the determination of the allowance include historical loss experience, current economic forecasts and measurement date credit characteristics such as product type, delinquency, and industry. The unfunded credit commitments depend on these same factors, as well as estimates of lines of credit usage. The various quantitative and qualitative factors used in the methodologies are reviewed quarterly.

The collective evaluation of expected credit losses for certain consumer lending portfolios utilize different methodologies when estimating expected credit losses. The Company’s student loan portfolio utilizes a roll-rate historical loss rate and adjustments for forward-looking information, including macroeconomic conditions. Management has elected to use a twelve-month reasonable and supportable forecast with an immediate reversion to historical loss rates. Factors utilized in the determination of the allowance include historical loss experience, current economic forecasts, and measurement date credit characteristics including delinquency.
Loans and leases are charged off to the extent they are deemed uncollectible. Net charge-offs are included in historical data utilized for calculating the ACL. For commercial loans, the Company generally fully charges off or charges down to net realized value (fair value of collateral, less estimated costs to sell) for loans secured by collateral when management judges the loan to be uncollectible, repayment is deemed to be protracted beyond a reasonable timeframe, the loan has been classified as a loss by either the Company’s internal loan review process or its banking regulatory agencies, the Company has filed bankruptcy and the loss becomes evident owing to lack of assets, or the loans meets a defined number of days past due unless the loan is both well-secured and is in the process of collection. For consumer loans, the Company fully charges off or charges down to net realizable value when deemed uncollectible due to bankruptcy or other factors or meets a defined number of days past due.

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

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

Management maintains a framework of controls over the estimation process for the ACL, including review of collective reserve methodologies for compliance with GAAP. Management has a quarterly process to review the appropriateness of historical observation periods and loss assumptions and risk ratings assigned to loans and leases, if applicable. Management reviews its qualitative framework and the effect on the collective reserve compared with relevant credit risk factors and consistency with credit trends. Management also maintains controls over information systems, models and spreadsheets used in the quantitative components of the reserve estimate. This includes the quality and accuracy of historical data used to derive loss rates, the inputs to industry and macroeconomic forecasts and the reversion periods utilized. The results of this process are summarized and presented to management quarterly for their approval of the recorded allowance. See Note 6. Loans and Leases, Net for further information.

Securities Impairment. The Company evaluates investment securities held-to-maturity for credit losses on a quarterly basis and records any such losses as a component of provision for credit losses in the Condensed Consolidated Statements of Operations. The Company has concluded its portfolio as of December 31, 2020 has a zero risk of credit loss due to the U.S. Government financial guarantees underlying the securities within the held-to-maturity portfolio and as a result has not recorded an allowance for credit loss.

The Company evaluates investment securities available-for-sale for credit losses on a quarterly basis and records any such losses as a component of provision for credit losses in the Condensed Consolidated Statements of Operations. See Note 5. Securities for further information.
Adopted ASUs
Effective October 1, 2020, the Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and subsequent related ASUs (collectively “Topic 326”), which changes the impairment model for most financial assets, including trade and other receivables, debt securities held-to-maturity, loans, net investments in leases, purchased financial assets with credit deterioration, and off-balance sheet credit exposures. ASU 2016-13 requires the use of a current expected credit loss (“CECL”) methodology to determine the allowance for credit losses for loans and debt securities held-to-maturity. CECL requires loss estimates for the remaining estimated life of the assets to be measured using historical loss data, adjustments for current conditions, and adjustments for reasonable and supportable forecasts of future economic conditions. The Company adopted CECL using the modified retrospective approach with a cumulative effect adjustment to Retained Earnings recorded on October 1, 2020.
Our adoption resulted in an ACL as of October 1, 2020 that is larger than the allowance for loan and lease losses (“ALLL”) that would have been recorded under legacy guidance on the same date by $12.8 million in total for all portfolios. A portion of this increase is a result of new requirements to record ACL on acquired loans and leases, regardless of any credit mark recorded. Under legacy guidance, credit marks were included in the determination of fair value adjustments reflected as a discount to the carrying value of the loans and leases and an ALLL was not recorded on acquired loans and leases until evidence of credit deterioration existed post acquisition. The remaining credit and interest mark will continue to accrete over the life of the loan or lease but will no longer be considered when estimating the ACL for acquired loans and leases under CECL. The adoption of CECL also resulted in an increase in the liability of unfunded commitments of $0.8 million. For other assets in scope of the standard such as held-to-maturity debt securities and trade and other receivables, the impact from this ASU was inconsequential. The cumulative tax effected adjustment to record ACL and to increase the unfunded commitments liability resulted in a reduction to retained earnings of $8.4 million along with $2.5 million attributable to noncontrolling interests. Post adoption, as loans and leases are added to the portfolio, the Company expects higher levels of ACL determined by CECL assumptions, resulted in accelerated recognition of provision for credit losses, as compared to historical results. In response to the COVID-19 pandemic, regulatory agencies have published a final rule that provides the option to delay the cumulative effect of the day 1 impact to CECL adoption on regulatory capital for two years, followed by a three-year phase in period. Management has elected this five-year transition period consistent with the final rule. Additional and modified disclosure requirements under CECL are included in Note 5. Securities and Note 6. Loans and Leases, Net.

The Company also adopted the following ASUs on October 1, 2020, none of which had a material impact on the Company’s Condensed Consolidated Financial Statements:

–ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement.
–ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract.
–ASU 2018-17, Consolidation (Topic 810) – Targeted Improvements to Related Party Guidance for Variable Interest Entities.

ASUs to be Adopted
ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this ASU are intended to simplify the accounting for income taxes by removing certain exceptions to the general rules found in Topic 740, Income Taxes. The majority of the amendments are to be applied on a prospective basis. This ASU is effective for fiscal years beginning after December 15, 2020. The Company is currently evaluating the impact of this guidance on the consolidated financial statements.
ASU 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying Interactions between Topics 321, 323 and 815. This ASU clarifies the interactions between Topic 321, Topic 323 and Topic 815, including accounting for the transition into and out of the equity method and measuring certain purchased options and forward contracts to acquire investments. The amendments in this ASU are effective for fiscal years beginning after December 15, 2020. Management is currently evaluating the impact of this guidance on the consolidated financial statements.

ASU 2020-04, Reference Rate Reform (Topic 848) – Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this ASU provide optional expedients and exceptions to applying GAAP to contracts, hedging relationships and other transactions impacted by reference rate reform if certain criteria are met. The amendments include a one-time sale or transfer election of held-to-maturity debt securities impacted by reference rate reform. The amendments in this ASU are effective upon issuance through December 31, 2022. The Company is currently evaluating the impact of this guidance on the consolidated financial statements.

ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs. This ASU clarifies that an entity should amortize any premium, if applicable, to the next call date, which is the first date when a call option at a specified price becomes exercisable. The amendments in this ASU are effective for fiscal years beginning after December 15, 2020. Management is currently evaluating the impact of this guidance on the consolidated financial statements.
ASU 2020-10, Codification Improvements. This ASU provides clarification, corrects unintended application of guidance, and makes minor improvements to various Topics that are not expected to have a significant impact on the Company’s current accounting policies and practices. Amendments within this ASU are effective for fiscal years beginning after December 15, 2020.
v3.20.4
SIGNIFICANT EVENTS
 3 Months Ended
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
SIGNIFICANT EVENTS SIGNIFICANT EVENTS
COVID-19 Pandemic

The COVID-19 pandemic began impacting the U.S. and global economies in the first calendar quarter of 2020. Since the onset of this pandemic, macroeconomic conditions and markets have significantly deteriorated. In response to the impacts of COVID-19, the U.S. federal government enacted the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") on March 27, 2020. The goal of the CARES Act is to prevent a severe economic downturn through various measures, including direct financial aid to American families and economic stimulus to significantly impacted industry sectors. In addition to the CARES Act, the U.S. federal government enacted the Consolidated Appropriations Act of 2021 ("CAA") on December 27, 2020, which provides additional COVID-19 relief to American families and business.

The Company is participating in the Paycheck Protection Program ("PPP"), which is being administered by the Small Business Administration ("SBA"). It is the Company's understanding that loans funded through the PPP program are fully guaranteed by the U.S. government and that a portion of these loans will ultimately be forgiven by the SBA in accordance with the terms of the program. See Note 6. Loans and Leases, Net for further information related to this program.

In response to the COVID-19 pandemic impact on customers, the Company is engaging in more frequent communication with borrowers to better understand their situation and challenges and has been offering credit-worthy borrowers experiencing temporary hardship certain loan and lease modifications ("COVID modifications"), such as payment deferrals, as a result of interagency guidance issued on March 22, 2020 encouraging companies to work with customers impacted by COVID-19. The Company elected to treat COVID modifications on leases as part of the enforceable rights and obligations of the parties under the existing lease contract, resulting in these payment deferrals being treated as variable lease payments under the existing lease versus lease modifications. Additionally, for COVID modifications on loans, the Company adjusted its effective interest rate to reflect the payment deferral modification and continued accruing interest during this period. Short-term modifications made on a good faith basis in response to COVID-19 borrowers whose payments were current prior to any relief, are not to be considered troubled debt restructurings, and will not be considered delinquent so long as they meet their revised obligations in the modification agreement.
The table below presents the outstanding balances of active COVID-19 related modifications.

As of the Period Ended
(Dollars in Thousands)December 31, 2020September 30, 2020June 30, 2020
National Lending
Term lending$18,321 $26,559 $88,227 
Asset based lending1,124 7,924 17,657 
Factoring— 18,434 20,859 
Lease financing1,637 5,896 27,310 
Insurance premium finance— 230 5,505 
SBA/USDA— 7,724 7,724 
Other commercial finance— 69 74 
Commercial finance21,082 66,836 167,356 
Consumer credit products1,210 1,574 462 
Other consumer finance2,682 4,223 6,855 
Consumer finance3,892 5,797 7,317 
Total National Lending24,974 72,633 174,673 
Community Banking
Commercial real estate and operating60,319 120,695 148,838 
Consumer one-to-four family real estate and other— — 2,534 
Total Community Banking60,319 120,695 151,372 
Total loans and leases85,293 193,328 326,045 
Rental equipment— — 819 
Total COVID-19 related modifications$85,293 $193,328 $326,864 
v3.20.4
DIVESTITURES
 3 Months Ended
Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]  
DIVESTITURES DIVESTITURES
During the fiscal year ended September 30, 2020, the Company sold the Bank's Community Bank division, a component of the Company's Corporate segment, to Central Bank, a state-chartered bank headquartered in Storm Lake, Iowa. The sale included $290.5 million of deposits; $268.6 million of loans; $4.9 million of premises, furniture, and equipment; and $1.3 million of other assets and closed February 29, 2020 (the "Closing Date"). The sale resulted in a gain of $19.3 million before tax that was recognized within noninterest income on the Company's Condensed Consolidated Statements of Operations.

The Company entered a servicing agreement with Central Bank for the retained Community Bank loan portfolio that became effective on the Closing Date. The Company recognized $1.1 million and none in servicing fee expense during the three months ended December 31, 2020 and 2019, respectively, and $3.5 million for the fiscal year ended September 30, 2020.

Since the Closing Date, the Company has entered into subsequent loan portfolio sale agreements with Central Bank. The Company sold additional loans from the retained Community Bank portfolio in the amount of $129.8 million and none in the three months ended December 31, 2020 and 2019, respectively, and $135.0 million for the fiscal year ended September 30, 2020. The sales did not result in any significant gains or losses to the Condensed Consolidated Statements of Operations.
v3.20.4
SECURITIES
 3 Months Ended
Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
SECURITIES SECURITIES
The amortized cost, gross unrealized gains and losses and estimated fair values of available for sale ("AFS") and held to maturity ("HTM") debt securities are presented below.
(Dollars in Thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair Value
At December 31, 2020
Debt securities AFS    
SBA securities$156,929 $5,255 $(175)$162,009 
Obligations of states and political subdivisions2,823 17 — 2,840 
Non-bank qualified obligations of states and political subdivisions299,830 9,808 — 309,638 
Asset-backed securities323,589 2,752 (3,465)322,876 
Mortgage-backed securities418,390 12,685 (314)430,761 
Total debt securities AFS$1,201,561 $30,517 $(3,954)$1,228,124 

(Dollars in Thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair Value
At September 30, 2020
Debt securities AFS    
SBA securities$159,722 $5,391 $(158)$164,955 
Obligations of states and political subdivisions825 16 — 841 
Non-bank qualified obligations of states and political subdivisions314,819 8,978 (23)323,774 
Asset-backed securities 329,139 2,015 (6,229)324,925 
Mortgage-backed securities439,879 14,567 (839)453,607 
Total debt securities AFS$1,244,384 $30,967 $(7,249)$1,268,102 

(Dollars in Thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair Value
At December 31, 2020
Debt securities HTM    
Non-bank qualified obligations of states and political subdivisions$76,176 $1,414 $— $77,590 
Mortgage-backed securities5,152 185 — 5,337 
Total debt securities HTM$81,328 $1,599 $— $82,927 

(Dollars in Thousands)Amortized CostGross Unrealized GainGross Unrealized (Losses)Fair Value
At September 30, 2020
Debt securities HTM    
Non-bank qualified obligations of states and political subdivisions$87,183 $1,040 $(29)$88,194 
Mortgage-backed securities5,427 124 — 5,551 
Total debt securities HTM$92,610 $1,164 $(29)$93,745 
Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous loss position, were as follows:

LESS THAN 12 MONTHSOVER 12 MONTHSTOTAL
(Dollars in Thousands)Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)
At December 31, 2020
Debt securities AFS
SBA securities$40,938 $(81)$18,623 $(94)$59,561 $(175)
Asset-backed securities60,713 (136)200,240 (3,329)260,953 (3,465)
Mortgage-backed securities62,494 (314)— — 62,494 (314)
Total debt securities AFS$164,145 $(531)$218,863 $(3,423)$383,008 $(3,954)

LESS THAN 12 MONTHSOVER 12 MONTHSTOTAL
(Dollars in Thousands)Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)
At September 30, 2020
Debt securities AFS
SBA securities$32,257 $(102)$9,875 $(56)$42,132 $(158)
Non-bank qualified obligations of states and political subdivisions6,265 (6)3,103 (17)9,368 (23)
Asset-backed securities106,474 (1,089)178,686 (5,140)285,160 (6,229)
Mortgage-backed securities138,338 (839)— — 138,338 (839)
Total debt securities AFS$283,334 $(2,036)$191,664 $(5,213)$474,998 $(7,249)

There were no debt securities HTM with a continuous loss position at December 31, 2020.

LESS THAN 12 MONTHSOVER 12 MONTHSTOTAL
(Dollars in Thousands)Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)
At September 30, 2020
Debt securities HTM
Non-bank qualified obligations of states and political subdivisions7,397 (9)3,637 (20)11,034 (29)
Total debt securities HTM$7,397 $(9)$3,637 $(20)$11,034 $(29)

The adoption of CECL was inconsequential to debt securities AFS. At December 31, 2020, there was no ACL for debt securities AFS. At December 31, 2020, there were 27 securities AFS in an unrealized loss position. Management assessed each investment security with unrealized losses for credit impairment and determined substantially all unrealized losses on these securities were due to credit spreads and interest rates versus credit impairment. As part of that assessment, management evaluated and concluded that it is more-likely-than-not that the Company will not be required and does not intend to sell any of the securities prior to recovery of the amortized cost.

The amortized cost and fair value of debt securities by contractual maturity are shown below. Certain securities have call features that allow the issuer to call the security prior to maturity. Expected maturities may differ from contractual maturities in mortgage-backed securities ("MBS") because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Therefore, MBS are not included in the maturity categories in the following maturity summary. The expected maturities of certain SBA securities may differ from contractual maturities because the borrowers may have the right to prepay the obligation. However, certain prepayment penalties may apply.
Securities AFS at Fair ValueAmortized CostFair Value
(Dollars in Thousands)
At December 31, 2020  
Due in one year or less$720 $724 
Due after one year through five years22,799 23,707 
Due after five years through ten years32,099 33,738 
Due after ten years727,553 739,194 
 783,171 797,363 
Mortgage-backed securities418,390 430,761 
Total securities AFS, at fair value$1,201,561 $1,228,124 

(Dollars in Thousands)Amortized CostFair Value
At September 30, 2020
Due in one year or less$1,385 $1,398 
Due after one year through five years20,805 21,769 
Due after five years through ten years32,441 34,025 
Due after ten years749,874 757,303 
 804,505 814,495 
Mortgage-backed securities439,879 453,607 
Total securities AFS, at fair value$1,244,384 $1,268,102 

Securities HTM at Fair ValueAmortized CostFair Value
(Dollars in Thousands)
At December 31, 2020  
Due after ten years$76,176 $77,590 
 76,176 77,590 
Mortgage-backed securities5,152 5,337 
Total securities HTM, at cost$81,328 $82,927 

(Dollars in Thousands)Amortized CostFair Value
At September 30, 2020
Due after ten years$87,183 $88,194 
 87,183 88,194 
Mortgage-backed securities5,427 5,551 
Total securities HTM, at cost$92,610 $93,745 

Other investments, at cost, include equity securities without a readily determinable fair value, which are included in other assets on the Condensed Consolidated Statements of Financial Condition, and shares of stock in the Federal Reserve Bank (the "FRB") of Minneapolis and the FHLB of Des Moines.

Equity Securities
Equity securities without a readily determinable fair value totaled $13.7 million at December 31, 2020 and $11.0 million at September 30, 2020.
FRB Stock
The Bank is required by federal law to subscribe to capital stock (divided into shares of $100 each) as a member of the FRB of Minneapolis with an amount equal to six per centum of the paid-up capital stock and surplus. One-half of the subscription is paid at time of application, and one-half is subject to call of the Board of Governors of the Federal Reserve System. FRB of Minneapolis stock held by the Bank totaled $19.7 million at December 31, 2020 and September 30, 2020. These equity securities are 'restricted' in that they can only be owned by member banks.

FHLB Stock
The Company's borrowings from the FHLB are secured by a blanket collateral agreement with respect to a percentage of unencumbered loans and the pledge of specific investment securities. Such advances can be made pursuant to several different credit programs, each of which has its own interest rate and range of maturities.

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

The FHLB stock is carried at cost since it is generally redeemable at par value. The carrying value of the stock held at the FHLB was $7.5 million at December 31, 2020 and September 30, 2020. The absence of change in FHLB stock directly correlates with no short-term borrowings balances at both December 31, 2020 and September 30, 2020.

These equity securities are ‘restricted’ in that they can only be sold back to the respective institution from which they were acquired or another member institution at par. Therefore, FRB and FHLB stocks are less liquid than other marketable equity securities, and the 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. There was a $0.9 million impairment recognized for such investments for the three months ended December 31, 2020.
v3.20.4
LOANS AND LEASES, NET
 3 Months Ended
Dec. 31, 2020
Loans and Leases Receivable Disclosure [Abstract]  
LOANS AND LEASES, NET LOANS AND LEASES, NET
Loans and leases consist of the following:
(Dollars in Thousands)December 31, 2020September 30, 2020
National Lending
Term lending$881,306 $805,323 
Asset based lending242,298 182,419 
Factoring275,650 281,173 
Lease financing283,722 281,084 
Insurance premium finance338,227 337,940 
SBA/USDA300,707 318,387 
Other commercial finance101,209 101,658 
Commercial finance2,423,119 2,307,984 
Consumer credit products88,595 89,809 
Other consumer finance162,423 134,342 
Consumer finance251,018 224,151 
Tax services92,548 3,066 
Warehouse finance318,937 293,375 
Total National Lending3,085,622 2,828,576 
Community Banking
Commercial real estate and operating339,141 457,371 
Consumer one-to-four family real estate and other5,077 16,486 
Agricultural real estate and operating9,724 11,707 
Total Community Banking353,942 485,564 
Total loans and leases3,439,564 3,314,140 
Net deferred loan origination fees (costs)9,111 8,625 
Total gross loans and leases3,448,675 3,322,765 
Allowance for credit losses(72,389)(56,188)
Total loans and leases, net$3,376,286 $3,266,577 

During the three months ended December 31, 2020, the Company transferred $100.4 million of Community Banking loans to held for sale. During the three months ended December 31, 2019, the Company transferred $251.9 million of Community Banking loans to held for sale.

During the three months ended December 31, 2020 and 2019, the Company originated $303.5 million of other consumer finance, SBA/USDA, and consumer credit product loans as held for sale and $16.2 million of SBA/USDA and consumer credit product loans as held for sale, respectively.

The Company sold held for sale loans resulting in proceeds of $451.7 million and gains on sale of $3.5 million during the three months ended December 31, 2020. The Company sold held for sale loans resulting in proceeds of $143.0 million and gains on sale of $1.9 million during the three months ended December 31, 2019.
Loans purchased and sold by portfolio segment, including participation interests, for the three months ended were as follows:
Three Months Ended December 31,
(Dollars in Thousands)20202019
Loans Purchased
Loans held for investment:
Total National Lending$62,631 $14,464 
Total Community Banking2,299 4,349 
Total purchases$64,930 $18,813 
Loans Sold
Loans held for sale:
Total National Lending$321,864 $143,035 
Total Community Banking129,788 — 
Loans held for investment:
Total Community Banking— 3,099 
Total sales$451,652 $146,134 

Leasing Portfolio. The net investment in direct financing and sales-type leases was comprised of the following:
(Dollars in Thousands)December 31, 2020September 30, 2020
Carrying Amount$300,748 $299,487 
Unguaranteed residual assets17,488 17,203 
Unamortized initial direct costs2,056 2,078 
Unearned income(34,514)(35,606)
Total net investment in direct financing and sales-type leases$285,778 $283,162 

The carrying amount of direct financing and sales-type leases subject to residual value guarantees was $8.4 million at December 31, 2020.

The components of total lease income were as follows:
Three Months Ended December 31,
(Dollars in Thousands)20202019
Interest income - loans and leases
Interest income on net investments in direct financing and sales-type leases$5,319 $4,087 
Leasing and equipment finance noninterest income
Lease income from operating lease payments10,041 11,203 
Profit (loss) recorded on commencement date on sales-type leases71 471 
Other(1)
69 750 
Total leasing and equipment finance noninterest income10,181 12,424 
Total lease income$15,500 $16,511 
(1) Other leasing and equipment finance noninterest income consists of gains (losses) on sales of leased equipment, fees and service charges on leases and gains (losses) on sales of leases.
Undiscounted future minimum lease payments receivable for direct financing and sales-type leases and a reconciliation to the carrying amount recorded were as follows:

(Dollars in Thousands)December 31, 2020
Remaining in 2021$85,352 
202295,224 
202366,168 
202436,759 
202513,669 
Thereafter3,576 
Equipment under leases not yet commenced— 
Total undiscounted future minimum lease payments receivable for direct financing and sales-type leases300,748 
Third-party residual value guarantees— 
Total carrying amount of direct financing and sales-type leases$300,748 

The Company did not record any contingent rental income from direct financing and sales-type leases in the three months ended December 31, 2020.

During the Company's fiscal 2020 second quarter, the COVID-19 pandemic began impacting global and US markets and macroeconomic conditions, and continues to have an impact. Although the ultimate impact of the pandemic on the Company's loan and lease portfolio continues to be difficult to predict, management continues to evaluate the loan and lease portfolio in order to assess the impact on repayment sources and underlying collateral that could result in additional losses and continues to assess the impact to our customers and businesses as a result of COVID-19 and will refine our estimate as more information becomes available.

Effective October 1, 2020, the Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments and related ASUs on a modified retrospective basis. Financial information at and for the quarter ended December 31, 2020 is reflected as such. The historical information disclosed is in accordance with Topic 310.
Activity in the allowance for credit losses and balances of loans and leases by portfolio segment for each of the three months ended was as follows:
Three Months Ended December 31, 2020
(Dollars in Thousands)Beginning BalanceImpact of CECL Adoption
Provision (Recovery) for Credit Losses(2)
Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
National Lending
Term lending $15,211 $9,999 $6,026 $(3,312)$296 $28,220 
Asset based lending1,406 164 839 (600)— 1,809 
Factoring3,027 987 (1,416)(1)1,122 3,719 
Lease financing7,023 (556)1,112 (876)81 6,784 
Insurance premium finance2,129 (965)488 (656)289 1,285 
SBA/USDA940 2,720 (497)— 1 3,164 
Other commercial finance182 364 (67)— — 479 
Commercial finance29,918 12,713 6,485 (5,445)1,789 45,460 
Consumer credit products845 — (10)— — 835 
Other consumer finance2,821 5,998 1,482 (218)93 10,176 
Consumer finance3,666 5,998 1,472 (218)93 11,011 
Tax services2 — 454 — 956 1,412 
Warehouse finance294 (1)26 — — 319 
Total National Lending33,880 18,710 8,437 (5,663)2,838 58,202 
Community Banking
Commercial real estate and operating21,867 (5,616)(2,119)(11)— 14,121 
Consumer one-to-four family real estate and other298 (247)(32)— — 19 
Agricultural real estate and operating143 (74)(22)— — 47 
Total Community Banking22,308 (5,937)(2,173)(11)— 14,187 
Total loans and leases56,188 12,773 6,264 (5,674)2,838 72,389 
Unfunded commitments(1)
32 831 (175)— — 688 
Total$56,220 $13,604 $6,089 $(5,674)$2,838 $73,077 

(1) Reserve for unfunded commitments is recognized within other liabilities on the Consolidated Statement of Financial Condition.
(2) As a result of the adoption of CECL, effective October 1, 2020, the provision for credit losses includes the provision for unfunded commitments that was previously included within other noninterest expense.
Three Months Ended December 31, 2019
(Dollars in Thousands)Beginning BalanceProvision (Recovery) for Loan and Lease LossesCharge-offsRecoveriesEnding Balance
Allowance for loan and lease losses:
National Lending
Term lending$5,533 $3,401 $(2,295)$111 $6,750 
Asset based lending2,437 (461)— 19 1,995 
Factoring3,261 257 (389)419 3,548 
Lease financing1,275 504 (215)131 1,695 
Insurance premium finance1,024 141 (285)90 970 
SBA/USDA383 382 — — 765 
Other commercial finance683 (523)— — 160 
Commercial finance14,596 3,701 (3,184)770 15,883 
Consumer credit products1,044 63 — — 1,107 
Other consumer finance5,118 476 (734)29 4,889 
Consumer finance6,162 539 (734)29 5,996 
Tax services— 911 — 739 1,650 
Warehouse finance263 6 — — 269 
Total National Lending21,021 5,157 (3,918)1,538 23,798 
Community Banking
Commercial real estate and operating6,208 (1,543)— — 4,665 
Consumer one-to-four family real estate and other1,053 (22)— — 1,031 
Agricultural real estate and operating867 (185)— — 682 
Total Community Banking8,218 (1,750)— — 6,378 
Total$29,149 $3,407 $(3,918)$1,538 $30,176 
The following tables provide additional disclosures previously required by ASC Topic 310 related to the Company's September 30, 2020 balances.

AllowanceLoans and Leases
(Dollars in Thousands)Ending Balance: Individually Evaluated for ImpairmentEnding Balance: Collectively Evaluated for ImpairmentTotalEnding Balance: Individually Evaluated for ImpairmentEnding Balance: Collectively Evaluated for ImpairmentTotal
Recorded Investment
National Lending
Term lending$3,155 $12,056 $15,211 $26,085 $779,238 $805,323 
Asset based lending355 1,051 1,406 5,317 177,102 182,419 
Factoring274 2,753 3,027 5,071 276,102 281,173 
Lease financing1,194 5,829 7,023 4,697 276,387 281,084 
Insurance premium finance— 2,129 2,129 — 337,940 337,940 
SBA/USDA— 940 940 1,436 316,951 318,387 
Other commercial finance— 182 182 — 101,658 101,658 
Commercial finance4,978 24,940 29,918 42,606 2,265,378 2,307,984 
Consumer credit products— 845 845 — 89,809 89,809 
Other consumer finance— 2,821 2,821 1,987 132,355 134,342 
Consumer finance— 3,666 3,666 1,987 222,164 224,151 
Tax services— 2 2 — 3,066 3,066 
Warehouse finance— 294 294 — 293,375 293,375 
Total National Lending4,978 28,902 33,880 44,593 2,783,983 2,828,576 
Community Banking
Commercial real estate and operating141 21,726 21,867 160 457,211 457,371 
Consumer one-to-four family real estate and other— 298 298 104 16,382 16,486 
Agricultural real estate and operating— 143 143 6,421 5,286 11,707 
Total Community Banking141 22,167 22,308 6,685 478,879 485,564 
Total$5,119 $51,069 $56,188 $51,278 $3,262,862 $3,314,140 

Information on impaired loans and leases, all of which are deemed to be collateral dependent and are evaluated individually for the ACL, as of December 31, 2020 was as follows:

(Dollars in Thousands)December 31, 2020
National Lending
Term lending$12,879 
Asset based lending908 
Factoring842 
Lease financing2,420 
SBA/USDA600 
Commercial finance17,649 
Total National Lending17,649 
Community Banking
Commercial real estate and operating18,456 
Consumer one-to-four family real estate and other173 
Agricultural real estate and operating6,343 
Total Community Banking24,972 
Total$42,621 
Information on impaired loans and leases as of September 30, 2020 was as follows:

(Dollars in Thousands)Recorded
Balance		Unpaid Principal
Balance		Specific
Allowance
Loans and leases without a specific valuation allowance
National Lending
Term lending$17,349 $18,823 $— 
Asset based lending3,914 3,914 — 
Factoring3,892 4,967 — 
Lease financing1,797 1,805 — 
SBA/USDA1,436 2,263 — 
Commercial finance28,388 31,772 — 
Other consumer finance1,987 2,104 — 
Consumer finance1,987 2,104 — 
Total National Lending30,375 33,876 — 
Community Banking
Consumer one-to-four family real estate and other104 104 — 
Agricultural real estate and operating6,421 6,421 — 
Total Community Banking6,525 6,525 — 
Total$36,900 $40,401 $— 
Loans and leases with a specific valuation allowance
National Lending
Term lending$8,736 $8,736 $3,155 
Asset based lending1,403 1,403 355 
Factoring1,179 1,191 274 
Lease financing2,900 2,900 1,194 
Commercial finance14,218 14,230 4,978 
Total National Lending14,218 14,230 4,978 
Community Banking
Commercial real estate and operating160 160 141 
Total Community Banking Loans160 160 141 
Total$14,378 $14,390 $5,119 
In response to the ongoing COVID-19 pandemic, the Company allowed modifications, such as payment deferrals and temporary forbearance, to credit-worthy borrowers who are experiencing temporary hardship due to the effects of COVID-19. Accordingly, if all payments were less than 30 days past due prior to the onset of the pandemic effects, the loan or lease will not be reported as past due during the deferral or forbearance period. As of December 31, 2020, $84.2 million of loan and lease balances that were granted deferral payments by the Company were still in their deferment period due to performing borrowers experiencing temporary hardship from COVID-19. These modifications consisted solely of payment deferrals ranging from 30 days to six months. These modifications are in line with applicable regulatory guidelines and, therefore, they are not reported as troubled-debt restructurings. The Company elected to accrue and recognize interest income on these modifications during the payment deferral period.

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.

Federal regulations provide for the classification of loans and other assets such as debt and equity securities considered by the Bank's primary regulator, the Office of the Comptroller of the Currency (the “OCC”), to be of lesser quality as “substandard,” “doubtful” or “loss.” 
The Company has various portfolios of consumer finance and tax services loans that present unique risks. Due to the unique risks associated with these portfolios, the Company monitors other credit quality indicators in their evaluation of the appropriateness of the allowance for credit losses on these portfolios, and as such, these loans are not included in the asset classification table below. The outstanding balances of consumer finance loans and tax services loans were $251.0 million and $92.5 million at December 31, 2020, respectively, and $224.2 million and $3.1 million at September 30, 2020, respectively.
The amortized cost basis of loans and leases by asset classification and year of origination was as follows:

Amortized Cost Basis
(Dollars in Thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
As of December 31, 202020212020201920182017Prior
Term lending
Pass$107,414 $321,578 $130,293 $68,889 $46,776 $123,244 $— $798,194 
Watch718 4,081 8,058 915 3,850 11,660 — 29,282 
Special Mention— 6,322 4,220 1,332 269 2,101 — 14,244 
Substandard1,092 14,147 12,326 7,691 — 1,766 — 37,022 
Doubtful— 1,264 832 456 — 12 — 2,564 
Total109,224 347,392 155,729 79,283 50,895 138,783 — 881,306 
Asset based lending
Pass— — — — — — 147,064 147,064 
Watch— — — — — — 73,402 73,402 
Special Mention— — — — — — 19,750 19,750 
Substandard— — — — — — 2,082 2,082 
Total— — — — — — 242,298 242,298 
Factoring
Pass— — — — — — 217,566 217,566 
Watch— — — — — — 31,257 31,257 
Special Mention— — — — — — 18,779 18,779 
Substandard— — — — — — 8,048 8,048 
Total— — — — — — 275,650 275,650 
Lease financing
Pass32,970 161,904 51,762 16,780 1,282 2,297 — 266,995 
Watch132 6,619 236 954 272 55 — 8,268 
Special Mention— 2,048 1,295 213 — — — 3,556 
Substandard— 288 3,585 277 3 496 — 4,649 
Doubtful— 51 114 89 — — — 254 
Total33,102 170,910 56,992 18,313 1,557 2,848 — 283,722 
Insurance premium finance
Pass173,400 164,238 41 — — — — 337,679 
Watch— 127 3 — — — — 130 
Special Mention— 175 2 — — — — 177 
Substandard— 135 21 — — — — 156 
Doubtful— 83 2 — — — — 85 
Total173,400 164,758 69 — — — — 338,227 
SBA/USDA
Pass724 222,726 25,001 22,946 9,505 5,025 — 285,927 
Watch— 6,811 643 457 1,381 966 — 10,258 
Special Mention— — — 1,823 — 73 — 1,896 
Substandard— — — 1,209 703 714 — 2,626 
Total724 229,537 25,644 26,435 11,589 6,778 — 300,707 
Other commercial finance
Pass2,450 4,841 8,183 4,080 4,137 74,263 — 97,954 
Watch867 — — — — 2,107 — 2,974 
Special Mention— — — — — — — — 
Substandard— 281 — — — — — 281 
Total3,317 5,122 8,183 4,080 4,137 76,370 — 101,209 
Warehouse finance
Pass— — — — — — 318,937 318,937 
Total— — — — — — 318,937 318,937 
Total National Lending
Pass316,958 875,287 215,280 112,695 61,700 204,829 683,567 2,470,316 
Watch1,717 17,638 8,940 2,326 5,503 14,788 104,659 155,571 
Special Mention— 8,545 5,517 3,368 269 2,174 38,529 58,402 
Substandard1,092 14,851 15,932 9,177 706 2,976 10,130 54,864 
Doubtful— 1,398 948 545 — 12 — 2,903 
Total319,767 917,719 246,617 128,111 68,178 224,779 836,885 2,742,056 
Commercial real estate and operating
Pass— 10,122 99,181 75,915 32,338 50 300 217,906 
Watch— — 8,046 57,291 28,157 6,593 — 100,087 
Special Mention— 926 — — — 1,455 — 2,381 
Substandard— 300 700 16,896 — 311 — 18,207 
Doubtful— — 560 — — — — 560 
Total— 11,348 108,487 150,102 60,495 8,409 300 339,141 
Consumer 1-4 family real estate and other
Pass— — 161 645 381 2,940 8 4,135 
Watch— — — 236 — — — 236 
Special Mention— — — — 139 66 206 411 
Substandard— — 111 — 41 143 — 295 
Total— — 272 881 561 3,149 214 5,077 
Agricultural real estate and other
Pass— — 85 — — — — 85 
Watch— 1,583 — — — — — 1,583 
Special Mention— — — 111 — 2,694 — 2,805 
Substandard— 3,394 — 913 — 594 350 5,251 
Total— 4,977 85 1,024 — 3,288 350 9,724 
Total Community Bank
Pass— 10,122 99,427 76,560 32,719 2,990 308 222,126 
Watch— 1,583 8,046 57,527 28,157 6,593 — 101,906 
Special Mention— 926 — 111 139 4,215 206 5,597 
Substandard— 3,694 811 17,809 41 1,048 350 23,753 
Doubtful— — 560 — — — — 560 
Total— 16,325 108,844 152,007 61,056 14,846 864 353,942 
Total Loans and Leases
Pass316,958 885,409 314,707 189,255 94,419 207,819 683,875 2,692,442 
Watch1,717 19,221 16,986 59,853 33,660 21,381 104,659 257,477 
Special Mention— 9,471 5,517 3,479 408 6,389 38,735 63,999 
Substandard1,092 18,545 16,743 26,986 747 4,024 10,480 78,617 
Doubtful— 1,398 1,508 545 — 12 — 3,463 
Total$319,767 $934,044 $355,461 $280,118 $129,234 $239,625 $837,749 $3,095,998 
The recorded investment of loans and leases by asset classification was as follows:

Asset ClassificationPassWatchSpecial MentionSubstandardDoubtfulTotal
As of September 30, 2020(Dollars in Thousands)
National Lending
Term lending$725,101 $29,637 $24,501 $21,249 $4,835 $805,323 
Asset based lending102,013 62,512 12,577 5,317 — 182,419 
Factoring217,245 45,200 13,657 5,071 — 281,173 
Lease financing264,700 8,879 2,808 4,148 549 281,084 
Insurance premium finance336,364 284 222 701 369 337,940 
SBA/USDA308,549 8,328 74 1,436 — 318,387 
Other commercial finance100,727 931 — — — 101,658 
Commercial finance2,054,699 155,771 53,839 37,922 5,753 2,307,984 
Warehouse finance293,375 — — — — 293,375 
Total National Lending2,348,074 155,771 53,839 37,922 5,753 2,601,359 
Community Banking
Commercial real estate and operating336,236 98,295 4,049 18,211 580 457,371 
Consumer one-to-four family real estate and other15,648 41 609 188 — 16,486 
Agricultural real estate and operating1,526 — 4,930 5,251 — 11,707 
Total Community Banking353,410 98,336 9,588 23,650 580 485,564 
Total loans and leases$2,701,484 $254,107 $63,427 $61,572 $6,333 $3,086,923 
Past due loans and leases were as follows:

Accruing and Nonaccruing Loans and LeasesNonperforming Loans and Leases
(Dollars in Thousands)30-59 Days
Past Due		60-89 Days
Past Due		>
89 Days Past Due		Total Past
Due		CurrentTotal Loans and Leases
Receivable		> 89 Days Past Due and AccruingNon-accrual balanceTotal
As of December 31, 2020
Loans held for sale$165 $— $— $165 $133,494 $133,659 $— $— $— 
National Lending
Term lending8,467 2,442 10,211 21,120 860,186 881,306 385 13,741 14,126 
Asset based lending— — — — 242,298 242,298 — 917 917 
Factoring— — — — 275,650 275,650 — 842 842 
Lease financing11,257 4,144 3,424 18,825 264,897 283,722 1,042 2,607 3,649 
Insurance premium finance3,349 772 665 4,786 333,441 338,227 665 — 665 
SBA/USDA375 — 600 975 299,732 300,707 — 600 600 
Other commercial finance— — — — 101,209 101,209 — — — 
Commercial finance23,448 7,358 14,900 45,706 2,377,413 2,423,119 2,092 18,707 20,799 
Consumer credit products661 301 457 1,419 87,176 88,595 457 — 457 
Other consumer finance754 103 675 1,532 160,891 162,423 675 — 675 
Consumer finance1,415 404 1,132 2,951 248,067 251,018 1,132 — 1,132 
Tax services— — — — 92,548 92,548 — — — 
Warehouse finance— — — — 318,937 318,937 — — — 
Total National Lending24,863 7,762 16,032 48,657 3,036,965 3,085,622 3,224 18,707 21,931 
Community Banking
Commercial real estate and operating13 — 560 573 338,568 339,141 — 18,456 18,456 
Consumer one-to-four family real estate and other— — 50 50 5,027 5,077 — 164 164 
Agricultural real estate and operating— — 1,769 1,769 7,955 9,724 — 1,769 1,769 
Total Community Banking13 — 2,379 2,392 351,550 353,942 — 20,389 20,389 
Total loans and leases held for investment24,876 7,762 18,411 51,049 3,388,515 3,439,564 3,224 39,096 42,320 
Total loans and leases$25,041 $7,762 $18,411 $51,214 $3,522,009 $3,573,223 $3,224 $39,096 $42,320 
Accruing and Nonaccruing Loans and LeasesNonperforming Loans and Leases
(Dollars in Thousands)30-59 Days
Past Due		60-89 Days
Past Due		>
89 Days Past Due		Total Past
Due		CurrentTotal Loans and Leases
Receivable		> 89 Days Past Due and AccruingNon-accrual balanceTotal
As of September 30, 2020
Loans held for sale$— $— $— $— $183,577 $183,577 $— $— $— 
National Lending
Term lending11,900 3,851 6,390 22,141 783,182 805,323 266 16,274 16,540 
Asset based lending17 — — 17 182,402 182,419 — — — 
Factoring— — — — 281,173 281,173 — 1,096 1,096 
Lease financing194 9,746 6,882 16,822 264,262 281,084 4,344 3,583 7,927 
Insurance premium finance1,227 748 2,364 4,339 333,601 337,940 2,364 — 2,364 
SBA/USDA— — 1,027 1,027 317,360 318,387 427 600 1,027 
Other commercial finance— — — — 101,658 101,658 — — — 
Commercial finance13,338 14,345 16,663 44,346 2,263,638 2,307,984 7,401 21,553 28,954 
Consumer credit products377 358 499 1,233 88,576 89,809 499 — 499 
Other consumer finance600 536 373 1,509 132,833 134,342 373 — 373 
Consumer finance977 894 872 2,743 221,408 224,151 872 — 872 
Tax services— — 1,743 1,743 1,323 3,066 1,743 — 1,743 
Warehouse finance— — — — 293,375 293,375 — — — 
Total National Lending14,315 15,239 19,278 48,832 2,779,744 2,828,576 10,016 21,553 31,569 
Community Banking
Commercial real estate and operating— — 630 630 456,741 457,371 50 580 630 
Consumer one-to-four family real estate and other905 114 50 1,069 15,417 16,486 — 50 50 
Agricultural real estate and operating— — 1,769 1,769 9,938 11,707 — 1,769 1,769 
Total Community Banking905 114 2,449 3,468 482,096 485,564 50 2,399 2,449 
Total loans and leases held for investment15,220 15,353 21,727 52,300 3,261,840 3,314,140 10,066 23,952 34,018 
Total loans and leases$15,220 $15,353 $21,727 $52,300 $3,445,417 $3,497,717 $10,066 $23,952 $34,018 
Nonaccrual loans and leases by year of origination were as follows:

Amortized Cost Basis
(Dollars in Thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
December 31, 202020212020201920182017Prior
National Lending
Term lending$42 $4,051 $2,117 $3,051 $11 $4,469 $— $13,741 
Asset based lending— — — — — — 917 917 
Factoring— — — — — — 842 842 
Lease financing— 90 2,106 411 — — — 2,607 
SBA/USDA— — — — — 600 — 600 
Commercial finance42 4,141 4,223 3,462 11 5,069 1,759 18,707 
Total National Lending42 4,141 4,223 3,462 11 5,069 1,759 18,707 
Community Banking— 
Commercial real estate and operating— 1,260 — 300 13,618 3,278 — 18,456 
Consumer one-to-four family real estate and other— — 41 9 — 114 — 163 
Agricultural real estate and operating— — — 1,419 — — 350 1,769 
Total Community Banking— 1,260 41 1,727 13,618 3,392 350 20,388 
Total nonaccrual loans and leases$42 $5,401 $4,264 $5,189 $13,629 $8,461 $2,109 $39,096 

Loans and leases that are 90 days or more delinquent and accruing by year of origination were as follows:
Amortized Cost Basis
(Dollars in Thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
December 31, 202020212020201920182017Prior
National Lending
Term lending$— $— $131 $232 $— $22 $— $385 
Lease financing— 543 311 184 3 1 — 1,042 
Insurance premium finance— 641 24 — — — — 665 
Commercial finance— 1,184 466 416 3 23 — 2,092 
Other consumer finance— — — — — 675 — 675 
Consumer finance (1)
— — — — — 675 — 675 
Total National Lending— 1,184 466 416 3 698 — 2,767 
Total 90 days or more delinquent and accruing$— $1,184 $466 $416 $3 $698 $— $2,767 
(1) Consumer credit products are not included in the table as they are evaluated under a separate methodology for allowance for credit loss purposes that considers the overall Program structure. Refer to the Company’s most recent audited financial statements for additional information on these Programs.

Certain loans and leases 90 days or more past due as to interest or principal continue to accrue because they are (1) well-secured and in the process of collection or (2) 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.
The following table provides the average recorded investment in non-accrual loans and leases:

Three Months Ended December 31, 2020
(Dollars in Thousands)Average Recorded Investment
National Lending
Term lending$14,876 
Asset based lending1,074 
Factoring935 
Lease financing3,556 
SBA/USDA600 
Commercial finance21,041 
Total National Lending21,041 
Community Banking
Commercial real estate and operating6,539 
Consumer one-to-four family real estate and other125 
Agricultural real estate and operating1,769 
Total Community Banking8,433 
Total loans and leases$29,474 

The recognized interest income on the Company's nonaccrual loans and leases during the quarter ended December 31, 2020 was not significant.

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

Three Months Ended December 31, 2019
(Dollars in Thousands)Average Recorded InvestmentRecognized Interest Income
National Lending
Term lending$19,537 $74 
Asset based lending427 — 
Factoring3,849 — 
Lease financing3,686 — 
SBA/USDA3,788 — 
Commercial finance31,287 74 
Other consumer finance1,551 35 
Consumer finance1,551 35 
Total National Lending32,838 109 
Community Banking
Commercial real estate and operating446 13 
Consumer one-to-four family real estate and other90 8 
Agricultural real estate and operating2,921 42 
Total Community Banking3,457 63 
Total loans and leases$36,295 $172 

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 $0.1 million of national lending loans that were modified in a TDR during the three months ended December 31, 2020, all of which were modified to extend the term of the loan, and no community banking loans. There were $0.6 million community banking loans and $0.4 million of national lending loans and leases that were modified in a TDR during the three months ended December 31, 2019.
During the three months ended December 31, 2020, the Company had $0.4 million of national lending loans and no community banking loans that were modified in a TDR within the previous 12 months and for which there was a payment default. During the three months ended December 31, 2019, the Company had $1.2 million of community banking loans and $0.3 million national lending loans that were modified in a TDR within the previous 12 months and for which there was a payment default. TDR net charge-offs and the impact of TDRs on the Company's allowance for loan and lease losses were insignificant during the quarters ended December 31, 2020 and December 31, 2019.
v3.20.4
EARNINGS PER COMMON SHARE ("EPS")
 3 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE ("EPS") EARNINGS PER COMMON SHARE ("EPS")
The Company has granted restricted share awards with dividend rights that are considered to be participating securities. Accordingly, a portion of the Company’s earnings is allocated to those participating securities in the earnings per share calculation under the two-class method. Basic earnings per common share is computed using the two-class method by dividing income available to common stockholders after the allocation of dividends and undistributed earnings to the participating securities by the weighted average number of common shares outstanding for the period. Diluted earnings per common share is calculated using the more dilutive of the treasury stock method or the two-class method. Diluted earnings per common 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, performance share units, and nonvested restricted stock, where applicable. Diluted EPS under the two-class method also considers the allocation of earnings to the participating securities. Antidilutive securities are disregarded in earnings per share calculations. Diluted EPS shown below reflects the two-class method, as diluted EPS under the two-class method was more dilutive than under the treasury stock method.

A reconciliation of net income and common stock share amounts used in the computation of basic and diluted earnings per share is presented below.
Three Months Ended
December 31,
(Dollars in Thousands, Except Share and Per Share Data)20202019
Basic income per common share:
Net income attributable to Meta Financial Group, Inc.$28,037 $21,068 
Dividends and undistributed earnings allocated to participating securities(554)(460)
Basic net earnings available to common stockholders27,483 20,608 
Undistributed earnings allocated to nonvested restricted stockholders521 420 
Reallocation of undistributed earnings to nonvested restricted stockholders(521)(420)
Diluted net earnings available to common stockholders$27,483 $20,608 
Total weighted-average basic common shares outstanding32,782,285 36,613,699 
Effect of dilutive securities(1)
Stock options— 34,090 
Performance share units8,610 — 
Total effect of dilutive securities8,610 34,090 
Total weighted-average diluted common shares outstanding32,790,895 36,647,789 
Net earnings per common share:
Basic earnings per common share$0.84 $0.56 
Diluted earnings per common share(2)
$0.84 $0.56 
(1) Represents the effect of the assumed exercise of stock options and vesting of performance share units and restricted stock, as applicable, utilizing the treasury stock method.
(2) Excluded from the computation of diluted earnings per share for the three months ended December 31, 2020 and 2019, respectively, were 660,659 and 818,089 weighted average shares of nonvested restricted stock because their inclusion would be anti-dilutive.
v3.20.4
RENTAL EQUIPMENT, NET
 3 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]  
RENTAL EQUIPMENT, NET RENTAL EQUIPMENT, NET
Rental equipment consists of the following:
(Dollars in Thousands)December 31, 2020September 30, 2020
Computers and IT networking equipment$16,026 $15,926 
Motor vehicles and other47,800 52,913 
Office furniture and equipment78,850 74,197 
Solar panels and equipment122,071 118,808 
Total264,747 261,844 
Accumulated depreciation(59,673)(57,601)
Unamortized initial direct costs1,658 1,721 
Net book value$206,732 $205,964 

Undiscounted future minimum lease payments expected to be received for operating leases were as follows:
(Dollars in Thousands)
Remaining in 2021$23,422 
202227,390 
202323,644 
202417,173 
202512,313 
Thereafter18,295 
Total undiscounted future minimum lease payments receivable for operating leases$122,237 
v3.20.4
FORECLOSURED REAL ESTATE AND REPOSSESSED ASSETS
 3 Months Ended
Dec. 31, 2020
Real Estate [Abstract]  
FORECLOSURED REAL ESTATE AND REPOSSESSED ASSETS FORECLOSED REAL ESTATE AND REPOSSESSED ASSETS
The following table provides an analysis of changes in foreclosed real estate and repossessed assets:

Three Months Ended
December 31,
(Dollars in Thousands)20202019
Balance, beginning of period$9,957 $29,494 
Additions9 41 
Reductions:
Write-downs123 83 
Net proceeds from sale2,657 23,085 
(Gain) loss on sale— 5,039 
Total reductions2,780 28,207 
Balance, ending of period$7,186 $1,328 

At December 31, 2020 and September 30, 2020, the Company had established a valuation allowance of $0.6 million and $0.5 million for repossessed assets, respectively. As of December 31, 2020 and September 30, 2020, the Company had no loans or leases in the process of foreclosure.

During the fiscal year ended September 30, 2020, the Company sold $28.1 million of other real estate owned ("OREO"), which consisted of assets related to a Community Bank agriculture real estate customer. The sale consisted of 30-plus parcels of land and the Company recognized a $5.0 million loss that was included in the "Gain (loss) on sale of other" line on the Condensed Consolidated Statements of Operations. The Company also recognized $1.1 million in deferred rental income and $0.2 million in OREO expenses related to these foreclosed properties.
v3.20.4
GOODWILL AND INTANGIBLE ASSETS
 3 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The Company held a total of $309.5 million of goodwill at December 31, 2020. The recorded goodwill is a result of multiple business combinations that have been consummated since fiscal year 2015, with the most recent being the merger with Crestmark pursuant to the Crestmark Acquisition that closed on August 1, 2018. Goodwill is assessed for impairment at least annually or more often if conditions indicate a possible impairment. The assessment is done at a reporting unit level, which is one level below the operating segments. There have been no changes to the carrying amount of goodwill during the three months ended December 31, 2020.
 
The changes in the carrying amount of the Company’s intangible assets for the three months ended December 31, 2020 and 2019 were as follows:

(Dollars in Thousands)
Trademark(1)
Non-Compete(2)
Customer Relationships(3)
All Others(4)
Total
Intangible Assets
Balance as of September 30, 2020$10,901 $422 $24,333 $6,036 $41,692 
Acquisitions during the period— — — 5 5 
Amortization during the period(272)(95)(1,486)(160)(2,013)
Write-offs during the period— — — (24)(24)
Balance as of December 31, 2020$10,629 $327 $22,847 $5,857 $39,660 
Gross carrying amount$14,624 $2,481 $82,088 $10,123 $109,316 
Accumulated amortization(3,995)(2,154)(48,993)(4,047)(59,189)
Accumulated impairment— — (10,248)(219)(10,467)
Balance as of December 31, 2020$10,629 $327 $22,847 $5,857 $39,660 
(1) Book amortization period of 5-15 years. Amortized using the straight line and accelerated methods.
(2) Book amortization period of 3-5 years. Amortized using the straight line method.
(3) Book amortization period of 10-30 years. Amortized using the accelerated method.
(4) Book amortization period of 3-20 years. Amortized using the straight line method.

(Dollars in Thousands)
Trademark(1)
Non-Compete(2)
Customer Relationships(3)
All Others(4)
Total
Intangible Assets
Balance as of September 30, 2019$11,959 $827 $33,207 $6,817 $52,810 
Acquisitions during the period— — — 17 17 
Amortization during the period(264)(113)(2,115)(184)(2,676)
Balance as of December 31, 2019$11,695 $714 $31,092 $6,650 $50,151 
Gross carrying amount$14,624 $2,480 $82,088 $10,719 $109,911 
Accumulated amortization(2,929)(1,766)(40,748)(3,410)(48,853)
Accumulated impairment— — (10,248)(659)(10,907)
Balance as of December 31, 2019$11,695 $714 $31,092 $6,650 $50,151 
(1) Book amortization period of 5-15 years. Amortized using the straight line and accelerated methods.
(2) Book amortization period of 3-5 years. Amortized using the straight line method.
(3) Book amortization period of 10-30 years. Amortized using the accelerated method.
(4) Book amortization period of 3-20 years. Amortized using the straight line method.
The estimated amortization expense of intangible assets assumes no activities, such as acquisitions, which would result in additional amortizable intangible assets. Estimated amortization expense of intangible assets in the remaining nine months of fiscal 2021 and subsequent fiscal years was as follows:

(Dollars in Thousands)December 31, 2020
Remaining in 2021$6,532 
20226,420 
20235,102 
20244,384 
20253,826 
20263,252 
Thereafter10,144 
Total anticipated intangible amortization$39,660 

The Company tests intangible assets for impairment at least annually or more often if conditions indicate a possible impairment. There were no impairments to intangible assets during the three months ended December 31, 2020 and 2019.
v3.20.4
OPERATING LEASE RIGHT OF USE ASSETS AND LIABILITIES
 3 Months Ended
Dec. 31, 2020
Leases [Abstract]  
OPERATING LEASE RIGHT OF USE ASSETS AND LIABILITIES OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES
Operating lease ROU assets, included in other assets, were $25.2 million at December 31, 2020.

Operating lease liabilities, included in accrued expenses and other liabilities, were $26.7 million at December 31, 2020.

Undiscounted future minimum operating lease payments and a reconciliation to the amount recorded as operating lease liabilities were as follows:

(Dollars in Thousands)December 31, 2020
Remaining in 2021$2,880 
20223,580 
20232,899 
20242,908 
20252,755 
Thereafter15,765 
Total undiscounted future minimum lease payments 30,787 
Discount(4,082)
Total operating lease liabilities$26,705 

The weighted-average discount rate and remaining lease term for operating leases were as follows:

December 31, 2020
Weighted-average discount rate2.34 %
Weighted-average remaining lease term (years)11.23
The components of total lease costs for operating leases were as follows:
(Dollars in Thousands)Three Months Ended December 31, 2020
Lease expense$954 
Short-term and variable lease cost63 
ROU asset impairment224 
Sublease income(108)
Total lease cost for operating leases$1,133 
v3.20.4
STOCKHOLDERS' EQUITY
 3 Months Ended
Dec. 31, 2020
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY
Repurchase of Common Stock
The Company's Board of Directors authorized the November 20, 2019 share repurchase program to repurchase up to 7,500,000 shares of the Company's outstanding common stock. This authorization is effective from November 21, 2019 through December 31, 2022. During the three months ended December 31, 2020, and 2019, the Company repurchased 1,943,575 and 899,371 shares, respectively, as part of the share repurchase program.
Under the repurchase program, repurchased shares were retired and designated as authorized but unissued shares. The Company accounts for repurchased shares using the par value method under which the repurchase price is charged to paid-in capital up to the amount of the original proceeds of those shares. When the repurchase price is greater than the original issue proceeds, the excess is charged to retained earnings. As of December 31, 2020, the remaining number of shares available for repurchase under this program was 2,285,157 shares of common stock.
For the three months ended December 31, 2020, and 2019, the Company also repurchased 79,101 and 82,971 shares, or $1.8 million and $2.7 million of common stock, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock.
v3.20.4
STOCK COMPENSATION
 3 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
STOCK COMPENSATION STOCK COMPENSATION
The Company maintains the Meta Financial Group, Inc. 2002 Omnibus Incentive Plan, as amended and restated (the "2002 Omnibus Incentive Plan"), which, among other things, provides for the awarding of stock options, nonvested (restricted) shares, and performance share units ("PSUs") 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 nonvested (restricted) shares and performance share units granted under the Company’s incentive plan is equal to the fair market value of the underlying stock at the grant date, adjusted for dividends where applicable. The Company has elected, with the adoption of ASU 2016-09, to record forfeitures as they occur.

The following tables show the activity of nonvested (restricted) shares and PSUs granted, exercised, or forfeited under the 2002 Omnibus Incentive Plan for the three months ended December 31, 2020. There were no options granted, exercised or forfeited under this plan during the three months ended December 31, 2020.

(Dollars in Thousands, Except Per Share Data)Number of SharesWeighted Average Fair Value at Grant
Nonvested shares outstanding, September 30, 2020
790,083 $30.03 
Granted136,087 26.22 
Vested(237,413)28.86 
Forfeited or expired(91,060)29.74 
Nonvested shares outstanding, December 31, 2020
597,697 $29.67 
(Dollars in Thousands, Except Per Share Data)Number of UnitsWeighted Average Fair Value at Grant
Performance share units outstanding, September 30, 2020
— $— 
Granted(1)
60,984 34.03 
Vested— — 
Forfeited or expired— — 
Performance share units outstanding, December 31, 2020
60,984 $34.03 
(1) The number of PSUs granted reflects the target number of PSUs able to be earned under a given award.

At December 31, 2020, stock-based compensation expense not yet recognized in income totaled $9.4 million, which is expected to be recognized over a weighted average remaining period of 2.26 years.
v3.20.4
INCOME TAXES
 3 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company recorded an income tax expense of $3.5 million for the three months ended December 31, 2020, resulting in an effective tax rate of 10.77%, compared to an income tax benefit of $0.7 million, or an effective tax rate of 2.97%, for the three months ended December 31, 2019. The Company’s effective tax rate was 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,
(Dollars in Thousands)20202019
Provision at statutory rate$6,630 $4,567 
Tax-exempt income(249)(294)
State income taxes1,488 1,090 
Interim period effective rate adjustment5,467 860 
Tax credit investments, net - federal(10,123)(4,800)
Research tax credit(323)(1,709)
IRC 162(m) nondeductible compensation334 838 
Other, net309 128 
Income tax expense (benefit)$3,533 $680 
Effective tax rate10.77 %2.97 %
The Company does not expect significant income tax impacts due to the CARES Act or the CAA, which were signed in response to the COVID-19 pandemic.
v3.20.4
COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Dec. 31, 2020
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 Condensed Consolidated Financial Statements as described below.

At December 31, 2020 and September 30, 2020, unfunded loan commitments approximated $1.35 billion and $1.22 billion, 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, 2020 or September 30, 2020. The Company had no commitments to sell securities at December 31, 2020 or September 30, 2020.
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.

Since certain commitments to make loans and to fund lines of credit 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 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 positive balances to which Card Limited is 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 Court ruled in favor of MetaBank on cross motions for summary judgment and vacated the trial. Card Limited has appealed this decision. The Bank intends to continue to vigorously defend this claim. An estimate of a range of reasonably possible loss cannot be made at this stage of the litigation.

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.

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.
v3.20.4
REVENUE FROM CONTRACTS WITH CUSTOMERS
 3 Months Ended
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]  
REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACTS WITH CUSTOMERSTopic 606 applies to all contracts with customers unless such revenue is specifically addressed under existing guidance. The table below presents the Company’s revenue by operating segment. For additional descriptions of the Company’s operating segments, including additional financial information and the underlying management accounting process, see Note 17. Segment Reporting to the Condensed Consolidated Financial Statements.
(Dollars in Thousands)ConsumerCommercialCorporate Services/OtherConsolidated Company
Three Months Ended December 31,20202019202020192020201920202019
Net interest income(1)
$22,347 $16,557 $41,848 $39,736 $1,804 $8,358 $65,999 $64,651 
Noninterest income:
Refund transfer product fees647 192 — — — — 647 192 
Tax advance product fees(1)
1,960 2,276 — — — — 1,960 2,276 
Payment card and deposit fees22,564 21,499 — — — — 22,564 21,499 
Other bank and deposit fees— — 234 278 3 209 237 487 
Rental income(1)
5 4 9,880 11,034 — 1,313 9,885 12,351 
Gain (loss) on sale of other(1)
— 240 2,591 2,339 256 (5,147)2,847 (2,568)
Other income(1)
159 553 2,461 1,329 4,695 1,364 7,315 3,246 
Total noninterest income (expense)25,335 24,764 15,166 14,980 4,954 (2,261)45,455 37,483 
Revenue$47,682 $41,321 $57,014 $54,716 $6,758 $6,097 $111,454 $102,134 
(1) These revenues are not within the scope of Topic 606. Additional details are included in other footnotes to the accompanying financial statements. The scope of Topic 606 explicitly excludes net interest income as well as many other revenues for financial assets and liabilities, including loans, leases, and securities.
Following is a discussion of key revenues within the scope of Topic 606. The Company provides services to customers that have related performance obligations that must be completed to recognize revenue. Revenues are generally recognized immediately upon the completion of the service or over time as services are performed. Any services performed over time generally require that the Company renders services each period; therefore, the Company measures progress in completing these services based upon the passage of time. Revenue from contracts with customers did not generate significant contract assets and liabilities.

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. At December 31, 2020 and September 30, 2020, there were no receivables related to refund transfer fees, which reflect earned revenue with unconditional rights to payment for product fee income. All refund transfer fees are recorded within the Consumer reporting segment.

Card Fees. Card fees relate to MPS, Community 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. Breakage is also impacted by escheatment laws. Card fees are recorded within both the Consumer and Commercial reporting segments, the substantial majority of which is derived from the Company's payments divisions and reported in payments card and deposit fees. Card fees related to the Community Bank are reported within other bank and deposit fees.
Bank and Deposit Fees. Fees are earned on depository accounts for consumer and commercial 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. Bank and deposit fees are recorded within both the Consumer and Commercial reporting segments, the majority of which are derived from the Company's payments divisions. Bank and deposit fees related to the Community Bank are reported within other bank and deposit fees.

Principal vs Agent. The Consumer reporting segment includes principal/agent relationships. Within this segment, MPS relationships are recorded on a gross basis within the Condensed Consolidated Statements of Operations, as Meta is the principal in the contract, with the exception of association/network contracts and partner/processor contracts for prepaid cards, which are recorded on a net basis within the Condensed Consolidated Statements of Operations as Meta is the agent in these contracts. Also within this segment, Tax Service relationships are recorded on a gross basis within the Condensed Consolidated Statements of Operations, 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 Condensed Consolidated Statements of Operations as Meta is the agent in these contracts.
v3.20.4
SEGMENT REPORTING
 3 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
An operating segment is generally defined as a component of a business for which discrete financial information is available and whose results are reviewed by the chief operating decision-maker. Operating segments are aggregated into reportable segments if certain criteria are met.

The Company reports its results of operations through the following three business segments: Consumer, Commercial, and Corporate Services/Other. The Meta Payment Systems and Tax Services divisions, as well as the Consumer Credit Products and ClearBalance business lines, are reported in the Consumer segment. The Crestmark and AFS divisions are reported in the Commercial segment. The Community Bank division, Warehouse Finance, and Student Loan lending portfolio are included in the Corporate Services/Other segment. The Corporate Services/Other segment also includes certain shared services as well as treasury related functions such as the investment portfolio, wholesale deposits and borrowings. The Company does not report indirect general and administrative expenses in the Consumer and Commercial segments. Beginning October 1, 2020, Warehouse Finance, formerly reported in the Consumer segment, is now included in the Corporate Services/Other segment. Prior periods have been reclassified to conform to the current presentation.

The Company adopted ASU 2018-02 as of October 1, 2020. The amendments in this ASU allow for a reclassification from AOCI to Retained Earnings for stranded tax effects from the Tax Cuts and Jobs Act ("TCJA"). For the Company, these amendments are limited to any unrealized gains and losses held in Other Comprehensive Income for debt securities AFS held at the time of the TCJA enactment. The Company determined there were no stranded tax effects from the TCJA enactment and has not made any reclassification from AOCI to Retained Earnings upon adoption of this ASU.

The following tables present segment data for the Company:
Three Months Ended December 31, 2020
(Dollars in Thousands)ConsumerCommercial Corporate
Services/Other		Total
Net interest income$22,347 $41,848 $1,804 $65,999 
Provision for credit losses2,366 6,467 (2,744)6,089 
Noninterest income25,335 15,166 4,954 45,455 
Noninterest expense18,162 27,168 27,245 72,575 
Income (loss) before income tax expense (benefit)27,154 23,379 (17,743)32,790 
Total assets430,067 2,917,142 3,917,306 7,264,515 
Total goodwill87,145 222,360 — 309,505 
Total deposits5,884,638 13,230 309,923 6,207,791 
Three Months Ended December 31, 2019
(Dollars in Thousands)ConsumerCommercialCorporate
Services/Other		Total
Net interest income$16,557 $39,736 $8,358 $64,651 
Provision for loan and lease losses974 3,701 (1,268)3,407 
Noninterest income24,764 14,980 (2,261)37,483 
Noninterest expense16,741 26,726 32,331 75,798 
Income (loss) before income tax expense (benefit)23,606 24,289 (24,966)22,929 
Total assets447,963 2,494,253 3,238,710 6,180,926 
Total goodwill87,145 222,360 — 309,505 
Total deposits2,999,184 13,855 1,793,541 4,806,580 
v3.20.4
FAIR VALUE OF FINANCIAL INSTRUMENTS
 3 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS FAIR VALUES OF FINANCIAL INSTRUMENTS
ASC 820, Fair Value Measurements defines fair value, establishes a framework for measuring the fair value of assets and liabilities using a hierarchy system and requires disclosures about fair value measurement. It clarifies that fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the market in which the reporting entity transacts.

The fair value hierarchy is as follows:

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

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

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

Debt Securities Available for Sale and Held to Maturity. Debt securities available for sale are recorded at fair value on a recurring basis and debt securities held to maturity are carried at amortized cost.
 
The fair value of debt securities available for sale, categorized primarily as Level 2, is recorded using prices obtained from independent asset pricing services that are based on observable transactions, but not quoted markets. Management reviews the prices obtained from independent asset pricing servicing for unusual fluctuations and comparison to current market trading activity.

Equity Securities. Marketable equity securities and certain non-marketable equity securities are recorded at fair value on a recurring basis. The fair values of marketable equity securities are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs).
The following tables summarize the fair values of debt securities available for sale and equity securities as they are measured at fair value on a recurring basis:
 Fair Value At December 31, 2020
(Dollars in Thousands)TotalLevel 1Level 2Level 3
Debt securities AFS    
SBA securities$162,009 $— $162,009 $— 
Obligations of states and political subdivisions2,840 — 2,840 — 
Non-bank qualified obligations of states and political subdivisions309,638 — 309,638 — 
Asset-backed securities322,876 — 322,876 — 
Mortgage-backed securities430,761 — 430,761 — 
Total debt securities AFS$1,228,124 $— $1,228,124 $— 
Common equities and mutual funds(1)
$3,148 $3,148 $— $— 
Non-marketable equity securities(2)
$3,896 $— $— $— 
(1) Equity securities at fair value are included within other assets on the Condensed Consolidated Statements of Financial Condition at December 31, 2020 and September 30, 2020.
(2) Consists of certain non-marketable equity securities that are measured at fair value using net asset value ("NAV") per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.

 Fair Value At September 30, 2020
(Dollars in Thousands)TotalLevel 1Level 2Level 3
Debt securities AFS    
SBA securities$164,955 $— $164,955 $— 
Obligations of states and political subdivisions841 — 841 — 
Non-bank qualified obligations of states and political subdivisions323,774 — 323,774 — 
Asset-backed securities324,925 — 324,925 — 
Mortgage-backed securities453,607 — 453,607 — 
Total debt securities AFS$1,268,102 $— $1,268,102 $— 
Common equities and mutual funds(1)
$2,969 $2,969 $— $— 
Non-marketable equity securities(2)
$2,784 $— $— $— 
(1) Equity securities at fair value are included within other assets on the Condensed Consolidated Statements of Financial Condition at December 31, 2020 and September 30, 2020.
(2) Consists of certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.

Foreclosed Real Estate and Repossessed Assets. Real estate properties and repossessed assets are initially recorded at the fair value less selling costs at the date of foreclosure, establishing a new cost basis. The carrying amount represents the lower of the new cost basis or the fair value less selling costs of foreclosed assets that were measured at fair value subsequent to their initial classification as foreclosed assets.

Loans and Leases. The Company does not record loans and leases at fair value on a recurring basis. However, if a loan or lease is individually evaluated for risk of credit loss and repayment is expected to be solely provided by the values of the underlying collateral, the Company measures fair value on a nonrecurring basis. Fair value is determined by the fair value of the underlying collateral less estimated costs to sell. The fair value of the collateral is determined based on internal estimates and/or assessments provided by third-party appraisers and the valuation relies on discount rates ranging from 4% to 90%.
The following table summarizes the assets of the Company that are measured at fair value in the Condensed Consolidated Statements of Financial Condition on a non-recurring basis:

 Fair Value At December 31, 2020
(Dollars in Thousands)TotalLevel 1Level 2Level 3
Impaired loans and leases, net    
Commercial finance$4,080 $— $— $4,080 
Total National Lending4,080 — — 4,080 
Commercial real estate and operating9,029 — — 9,029 
Total Community Banking9,029 — — 9,029 
     Total impaired loans and leases, net13,109 — — 13,109 
Foreclosed assets, net7,186 — — 7,186 
Total$20,295 $— $— $20,295 

 Fair Value At September 30, 2020
(Dollars in Thousands)TotalLevel 1Level 2Level 3
Impaired loans and leases, net    
Commercial finance$9,240 $— $— $9,240 
Total National Lending9,240 — — 9,240 
Commercial real estate and operating20 — — 20 
Total Community Banking20 — — 20 
     Total impaired loans and leases, net9,260 — — 9,260 
Foreclosed assets, net9,957 — — 9,957 
Total$19,217 $— $— $19,217 

 Quantitative Information About Level 3 Fair Value Measurements
(Dollars in Thousands)
Fair Value at
December 31, 2020
Fair Value at
September 30, 2020
Valuation
Technique		Unobservable InputRange of Inputs
Impaired loans and leases, net$13,109 9,260 Market approach
Appraised values(1)
4% - 90%
Foreclosed assets, net$7,186 9,957 Market approach
Appraised values(1)
4% - 30%
(1) The Company generally relies on external appraisers to develop this information. Management reduced the appraised value by estimating selling costs and other inputs in a range of 4% to 90%.

Management discloses the estimated fair value of financial instruments, including assets and liabilities on and off the Condensed Consolidated Statements of Financial Condition, for which it is practicable to estimate fair value. These fair value estimates were made at December 31, 2020 and September 30, 2020 based on relevant market information and information about financial instruments. Fair value estimates are intended to represent the price at which an asset could be sold or a liability could be settled. However, since there is no active market for certain financial instruments of the Company, the estimates of fair value are subjective in nature, involve uncertainties, and include matters of significant judgment. Changes in assumptions as well as tax considerations could significantly affect the estimated values. Accordingly, the aggregate fair value estimates are not intended to represent the underlying value of the Company, on either a going concern or a liquidation basis.
The following tables present the carrying amount and estimated fair value of the financial instruments held by the Company:
 December 31, 2020
(Dollars in Thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets
Cash and cash equivalents$1,586,451 $1,586,451 $1,586,451 $— $— 
Debt securities available for sale1,228,124 1,228,124 — 1,228,124 — 
Debt securities held to maturity81,328 82,927 — 82,927 — 
Common equities and mutual funds(1)
3,148 3,148 3,148 — — 
Non-marketable equity securities(1)(2)
17,646 17,646 — 13,750 — 
Loans held for sale133,659 133,659 — 133,659 — 
Loans and leases receivable3,439,564 3,426,720 — — 3,426,720 
Federal Reserve Bank and Federal Home Loan Bank stocks27,138 27,138 — 27,138 — 
Accrued interest receivable17,133 17,133 17,133 — — 
Financial liabilities
Deposits6,207,791 6,208,167 6,040,903 167,265 — 
Other short- and long-term borrowings96,760 98,873 — 98,873 — 
Accrued interest payable2,068 2,068 2,068 — — 
(1) Equity securities at fair value are included within other assets on the Condensed Consolidated Statements of Financial Condition at December 31, 2020 and September 30, 2020.
(2) Includes certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.

 September 30, 2020
(Dollars in Thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets
Cash and cash equivalents$427,367 $427,367 $427,367 $— $— 
Debt securities available for sale1,268,102 1,268,102 — 1,268,102 — 
Debt securities held to maturity92,610 93,745 — 93,745 — 
Common equities and mutual funds(1)
2,969 2,969 2,969 — — 
Non-marketable equity securities(1)(2)
14,784 14,784 — 12,000 — 
Loans held for sale183,577 183,577 — 183,577 — 
Loans and leases receivable3,314,140 3,307,037 — — 3,307,037 
Federal Reserve Bank and Federal Home Loan Bank stocks27,138 27,138 — 27,138 — 
Accrued interest receivable16,628 16,628 16,628 — — 
Financial liabilities
Deposits4,979,200 4,980,073 4,705,028 275,045 — 
Overnight federal funds purchased— — — — — 
Federal Home Loan Bank advances— — — — — 
Other short- and long-term borrowings98,224 100,185 — 100,185 — 
Accrued interest payable1,923 1,923 1,923 — — 
(1) Equity securities at fair value are included within other assets on the Condensed Consolidated Statements of Financial Condition at December 31, 2020 and September 30, 2020.
(2) Includes certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.
v3.20.4
SUBSEQUENT EVENTS
 3 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Management has evaluated subsequent events that occurred after December 31, 2020. During this period, up to the filing date of this Quarterly Report on Form 10-Q, management identified the following subsequent events:

•On January 13, 2021, the Company sold an additional $103.2 million of the retained Community Bank loan portfolio to Central Bank. The sale did not result in any material gain to the Company. The loans included in the sale were classified as held for sale at December 31, 2020.
•Beginning January 4, 2021, the Bank disbursed approximately $7.10 billion of the second round of Economic Impact Payments ("EIP") under the CAA, pursuant to the Company's amendment of its existing agreement with the U.S. Department Treasury's Bureau of the Fiscal Service ("Fiscal Service") entered into on December 27, 2020.
v3.20.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES ("ASU") (Policies)
 3 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
New Accounting Pronouncements
Adopted ASUs
Effective October 1, 2020, the Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and subsequent related ASUs (collectively “Topic 326”), which changes the impairment model for most financial assets, including trade and other receivables, debt securities held-to-maturity, loans, net investments in leases, purchased financial assets with credit deterioration, and off-balance sheet credit exposures. ASU 2016-13 requires the use of a current expected credit loss (“CECL”) methodology to determine the allowance for credit losses for loans and debt securities held-to-maturity. CECL requires loss estimates for the remaining estimated life of the assets to be measured using historical loss data, adjustments for current conditions, and adjustments for reasonable and supportable forecasts of future economic conditions. The Company adopted CECL using the modified retrospective approach with a cumulative effect adjustment to Retained Earnings recorded on October 1, 2020.
Our adoption resulted in an ACL as of October 1, 2020 that is larger than the allowance for loan and lease losses (“ALLL”) that would have been recorded under legacy guidance on the same date by $12.8 million in total for all portfolios. A portion of this increase is a result of new requirements to record ACL on acquired loans and leases, regardless of any credit mark recorded. Under legacy guidance, credit marks were included in the determination of fair value adjustments reflected as a discount to the carrying value of the loans and leases and an ALLL was not recorded on acquired loans and leases until evidence of credit deterioration existed post acquisition. The remaining credit and interest mark will continue to accrete over the life of the loan or lease but will no longer be considered when estimating the ACL for acquired loans and leases under CECL. The adoption of CECL also resulted in an increase in the liability of unfunded commitments of $0.8 million. For other assets in scope of the standard such as held-to-maturity debt securities and trade and other receivables, the impact from this ASU was inconsequential. The cumulative tax effected adjustment to record ACL and to increase the unfunded commitments liability resulted in a reduction to retained earnings of $8.4 million along with $2.5 million attributable to noncontrolling interests. Post adoption, as loans and leases are added to the portfolio, the Company expects higher levels of ACL determined by CECL assumptions, resulted in accelerated recognition of provision for credit losses, as compared to historical results. In response to the COVID-19 pandemic, regulatory agencies have published a final rule that provides the option to delay the cumulative effect of the day 1 impact to CECL adoption on regulatory capital for two years, followed by a three-year phase in period. Management has elected this five-year transition period consistent with the final rule. Additional and modified disclosure requirements under CECL are included in Note 5. Securities and Note 6. Loans and Leases, Net.

The Company also adopted the following ASUs on October 1, 2020, none of which had a material impact on the Company’s Condensed Consolidated Financial Statements:

–ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement.
–ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract.
–ASU 2018-17, Consolidation (Topic 810) – Targeted Improvements to Related Party Guidance for Variable Interest Entities.

ASUs to be Adopted
ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this ASU are intended to simplify the accounting for income taxes by removing certain exceptions to the general rules found in Topic 740, Income Taxes. The majority of the amendments are to be applied on a prospective basis. This ASU is effective for fiscal years beginning after December 15, 2020. The Company is currently evaluating the impact of this guidance on the consolidated financial statements.
ASU 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying Interactions between Topics 321, 323 and 815. This ASU clarifies the interactions between Topic 321, Topic 323 and Topic 815, including accounting for the transition into and out of the equity method and measuring certain purchased options and forward contracts to acquire investments. The amendments in this ASU are effective for fiscal years beginning after December 15, 2020. Management is currently evaluating the impact of this guidance on the consolidated financial statements.

ASU 2020-04, Reference Rate Reform (Topic 848) – Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this ASU provide optional expedients and exceptions to applying GAAP to contracts, hedging relationships and other transactions impacted by reference rate reform if certain criteria are met. The amendments include a one-time sale or transfer election of held-to-maturity debt securities impacted by reference rate reform. The amendments in this ASU are effective upon issuance through December 31, 2022. The Company is currently evaluating the impact of this guidance on the consolidated financial statements.

ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs. This ASU clarifies that an entity should amortize any premium, if applicable, to the next call date, which is the first date when a call option at a specified price becomes exercisable. The amendments in this ASU are effective for fiscal years beginning after December 15, 2020. Management is currently evaluating the impact of this guidance on the consolidated financial statements.
ASU 2020-10, Codification Improvements. This ASU provides clarification, corrects unintended application of guidance, and makes minor improvements to various Topics that are not expected to have a significant impact on the Company’s current accounting policies and practices. Amendments within this ASU are effective for fiscal years beginning after December 15, 2020.
v3.20.4
SIGNIFICANT EVENTS (Tables)
 3 Months Ended
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Active COVID Related Modifications
The table below presents the outstanding balances of active COVID-19 related modifications.

As of the Period Ended
(Dollars in Thousands)December 31, 2020September 30, 2020June 30, 2020
National Lending
Term lending$18,321 $26,559 $88,227 
Asset based lending1,124 7,924 17,657 
Factoring— 18,434 20,859 
Lease financing1,637 5,896 27,310 
Insurance premium finance— 230 5,505 
SBA/USDA— 7,724 7,724 
Other commercial finance— 69 74 
Commercial finance21,082 66,836 167,356 
Consumer credit products1,210 1,574 462 
Other consumer finance2,682 4,223 6,855 
Consumer finance3,892 5,797 7,317 
Total National Lending24,974 72,633 174,673 
Community Banking
Commercial real estate and operating60,319 120,695 148,838 
Consumer one-to-four family real estate and other— — 2,534 
Total Community Banking60,319 120,695 151,372 
Total loans and leases85,293 193,328 326,045 
Rental equipment— — 819 
Total COVID-19 related modifications$85,293 $193,328 $326,864 
v3.20.4
SECURITIES (Tables)
 3 Months Ended
Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Securities Available for Sale
The amortized cost, gross unrealized gains and losses and estimated fair values of available for sale ("AFS") and held to maturity ("HTM") debt securities are presented below.
(Dollars in Thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair Value
At December 31, 2020
Debt securities AFS    
SBA securities$156,929 $5,255 $(175)$162,009 
Obligations of states and political subdivisions2,823 17 — 2,840 
Non-bank qualified obligations of states and political subdivisions299,830 9,808 — 309,638 
Asset-backed securities323,589 2,752 (3,465)322,876 
Mortgage-backed securities418,390 12,685 (314)430,761 
Total debt securities AFS$1,201,561 $30,517 $(3,954)$1,228,124 

(Dollars in Thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair Value
At September 30, 2020
Debt securities AFS    
SBA securities$159,722 $5,391 $(158)$164,955 
Obligations of states and political subdivisions825 16 — 841 
Non-bank qualified obligations of states and political subdivisions314,819 8,978 (23)323,774 
Asset-backed securities 329,139 2,015 (6,229)324,925 
Mortgage-backed securities439,879 14,567 (839)453,607 
Total debt securities AFS$1,244,384 $30,967 $(7,249)$1,268,102 
Securities Held to Maturity
(Dollars in Thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair Value
At December 31, 2020
Debt securities HTM    
Non-bank qualified obligations of states and political subdivisions$76,176 $1,414 $— $77,590 
Mortgage-backed securities5,152 185 — 5,337 
Total debt securities HTM$81,328 $1,599 $— $82,927 

(Dollars in Thousands)Amortized CostGross Unrealized GainGross Unrealized (Losses)Fair Value
At September 30, 2020
Debt securities HTM    
Non-bank qualified obligations of states and political subdivisions$87,183 $1,040 $(29)$88,194 
Mortgage-backed securities5,427 124 — 5,551 
Total debt securities HTM$92,610 $1,164 $(29)$93,745 
Schedule of Unrealized Loss on Investments, AFS
Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous loss position, were as follows:

LESS THAN 12 MONTHSOVER 12 MONTHSTOTAL
(Dollars in Thousands)Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)
At December 31, 2020
Debt securities AFS
SBA securities$40,938 $(81)$18,623 $(94)$59,561 $(175)
Asset-backed securities60,713 (136)200,240 (3,329)260,953 (3,465)
Mortgage-backed securities62,494 (314)— — 62,494 (314)
Total debt securities AFS$164,145 $(531)$218,863 $(3,423)$383,008 $(3,954)

LESS THAN 12 MONTHSOVER 12 MONTHSTOTAL
(Dollars in Thousands)Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)
At September 30, 2020
Debt securities AFS
SBA securities$32,257 $(102)$9,875 $(56)$42,132 $(158)
Non-bank qualified obligations of states and political subdivisions6,265 (6)3,103 (17)9,368 (23)
Asset-backed securities106,474 (1,089)178,686 (5,140)285,160 (6,229)
Mortgage-backed securities138,338 (839)— — 138,338 (839)
Total debt securities AFS$283,334 $(2,036)$191,664 $(5,213)$474,998 $(7,249)

There were no debt securities HTM with a continuous loss position at December 31, 2020.
Schedule of Unrealized Loss on Investments, HTM
LESS THAN 12 MONTHSOVER 12 MONTHSTOTAL
(Dollars in Thousands)Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)
At September 30, 2020
Debt securities HTM
Non-bank qualified obligations of states and political subdivisions7,397 (9)3,637 (20)11,034 (29)
Total debt securities HTM$7,397 $(9)$3,637 $(20)$11,034 $(29)
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity The amortized cost and fair value of debt securities by contractual maturity are shown below. Certain securities have call features that allow the issuer to call the security prior to maturity. Expected maturities may differ from contractual maturities in mortgage-backed securities ("MBS") because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Therefore, MBS are not included in the maturity categories in the following maturity summary. The expected maturities of certain SBA securities may differ from contractual maturities because the borrowers may have the right to prepay the obligation. However, certain prepayment penalties may apply.
Securities AFS at Fair ValueAmortized CostFair Value
(Dollars in Thousands)
At December 31, 2020  
Due in one year or less$720 $724 
Due after one year through five years22,799 23,707 
Due after five years through ten years32,099 33,738 
Due after ten years727,553 739,194 
 783,171 797,363 
Mortgage-backed securities418,390 430,761 
Total securities AFS, at fair value$1,201,561 $1,228,124 

(Dollars in Thousands)Amortized CostFair Value
At September 30, 2020
Due in one year or less$1,385 $1,398 
Due after one year through five years20,805 21,769 
Due after five years through ten years32,441 34,025 
Due after ten years749,874 757,303 
 804,505 814,495 
Mortgage-backed securities439,879 453,607 
Total securities AFS, at fair value$1,244,384 $1,268,102 

Securities HTM at Fair ValueAmortized CostFair Value
(Dollars in Thousands)
At December 31, 2020  
Due after ten years$76,176 $77,590 
 76,176 77,590 
Mortgage-backed securities5,152 5,337 
Total securities HTM, at cost$81,328 $82,927 

(Dollars in Thousands)Amortized CostFair Value
At September 30, 2020
Due after ten years$87,183 $88,194 
 87,183 88,194 
Mortgage-backed securities5,427 5,551 
Total securities HTM, at cost$92,610 $93,745 
v3.20.4
LOANS AND LEASES, NET (Tables)
 3 Months Ended
Dec. 31, 2020
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of Loans Receivable
Loans and leases consist of the following:
(Dollars in Thousands)December 31, 2020September 30, 2020
National Lending
Term lending$881,306 $805,323 
Asset based lending242,298 182,419 
Factoring275,650 281,173 
Lease financing283,722 281,084 
Insurance premium finance338,227 337,940 
SBA/USDA300,707 318,387 
Other commercial finance101,209 101,658 
Commercial finance2,423,119 2,307,984 
Consumer credit products88,595 89,809 
Other consumer finance162,423 134,342 
Consumer finance251,018 224,151 
Tax services92,548 3,066 
Warehouse finance318,937 293,375 
Total National Lending3,085,622 2,828,576 
Community Banking
Commercial real estate and operating339,141 457,371 
Consumer one-to-four family real estate and other5,077 16,486 
Agricultural real estate and operating9,724 11,707 
Total Community Banking353,942 485,564 
Total loans and leases3,439,564 3,314,140 
Net deferred loan origination fees (costs)9,111 8,625 
Total gross loans and leases3,448,675 3,322,765 
Allowance for credit losses(72,389)(56,188)
Total loans and leases, net$3,376,286 $3,266,577 
Schedule of Loans Purchased and Sold by Portfolio Segment
Loans purchased and sold by portfolio segment, including participation interests, for the three months ended were as follows:
Three Months Ended December 31,
(Dollars in Thousands)20202019
Loans Purchased
Loans held for investment:
Total National Lending$62,631 $14,464 
Total Community Banking2,299 4,349 
Total purchases$64,930 $18,813 
Loans Sold
Loans held for sale:
Total National Lending$321,864 $143,035 
Total Community Banking129,788 — 
Loans held for investment:
Total Community Banking— 3,099 
Total sales$451,652 $146,134 
Sales-type Lease, Lease Income The net investment in direct financing and sales-type leases was comprised of the following:
(Dollars in Thousands)December 31, 2020September 30, 2020
Carrying Amount$300,748 $299,487 
Unguaranteed residual assets17,488 17,203 
Unamortized initial direct costs2,056 2,078 
Unearned income(34,514)(35,606)
Total net investment in direct financing and sales-type leases$285,778 $283,162 
Operating Lease, Lease Income
The components of total lease income were as follows:
Three Months Ended December 31,
(Dollars in Thousands)20202019
Interest income - loans and leases
Interest income on net investments in direct financing and sales-type leases$5,319 $4,087 
Leasing and equipment finance noninterest income
Lease income from operating lease payments10,041 11,203 
Profit (loss) recorded on commencement date on sales-type leases71 471 
Other(1)
69 750 
Total leasing and equipment finance noninterest income10,181 12,424 
Total lease income$15,500 $16,511 
(1) Other leasing and equipment finance noninterest income consists of gains (losses) on sales of leased equipment, fees and service charges on leases and gains (losses) on sales of leases.
Sales-type and Direct Financing Leases, Lease Receivable, Maturity
Undiscounted future minimum lease payments receivable for direct financing and sales-type leases and a reconciliation to the carrying amount recorded were as follows:

(Dollars in Thousands)December 31, 2020
Remaining in 2021$85,352 
202295,224 
202366,168 
202436,759 
202513,669 
Thereafter3,576 
Equipment under leases not yet commenced— 
Total undiscounted future minimum lease payments receivable for direct financing and sales-type leases300,748 
Third-party residual value guarantees— 
Total carrying amount of direct financing and sales-type leases$300,748 
Annual Activity in Allowance for Loan Losses, Allowance for Loan Losses and Recorded Investment in Loans
Activity in the allowance for credit losses and balances of loans and leases by portfolio segment for each of the three months ended was as follows:
Three Months Ended December 31, 2020
(Dollars in Thousands)Beginning BalanceImpact of CECL Adoption
Provision (Recovery) for Credit Losses(2)
Charge-offsRecoveriesEnding Balance
Allowance for credit losses:
National Lending
Term lending $15,211 $9,999 $6,026 $(3,312)$296 $28,220 
Asset based lending1,406 164 839 (600)— 1,809 
Factoring3,027 987 (1,416)(1)1,122 3,719 
Lease financing7,023 (556)1,112 (876)81 6,784 
Insurance premium finance2,129 (965)488 (656)289 1,285 
SBA/USDA940 2,720 (497)— 1 3,164 
Other commercial finance182 364 (67)— — 479 
Commercial finance29,918 12,713 6,485 (5,445)1,789 45,460 
Consumer credit products845 — (10)— — 835 
Other consumer finance2,821 5,998 1,482 (218)93 10,176 
Consumer finance3,666 5,998 1,472 (218)93 11,011 
Tax services2 — 454 — 956 1,412 
Warehouse finance294 (1)26 — — 319 
Total National Lending33,880 18,710 8,437 (5,663)2,838 58,202 
Community Banking
Commercial real estate and operating21,867 (5,616)(2,119)(11)— 14,121 
Consumer one-to-four family real estate and other298 (247)(32)— — 19 
Agricultural real estate and operating143 (74)(22)— — 47 
Total Community Banking22,308 (5,937)(2,173)(11)— 14,187 
Total loans and leases56,188 12,773 6,264 (5,674)2,838 72,389 
Unfunded commitments(1)
32 831 (175)— — 688 
Total$56,220 $13,604 $6,089 $(5,674)$2,838 $73,077 

(1) Reserve for unfunded commitments is recognized within other liabilities on the Consolidated Statement of Financial Condition.
(2) As a result of the adoption of CECL, effective October 1, 2020, the provision for credit losses includes the provision for unfunded commitments that was previously included within other noninterest expense.
Three Months Ended December 31, 2019
(Dollars in Thousands)Beginning BalanceProvision (Recovery) for Loan and Lease LossesCharge-offsRecoveriesEnding Balance
Allowance for loan and lease losses:
National Lending
Term lending$5,533 $3,401 $(2,295)$111 $6,750 
Asset based lending2,437 (461)— 19 1,995 
Factoring3,261 257 (389)419 3,548 
Lease financing1,275 504 (215)131 1,695 
Insurance premium finance1,024 141 (285)90 970 
SBA/USDA383 382 — — 765 
Other commercial finance683 (523)— — 160 
Commercial finance14,596 3,701 (3,184)770 15,883 
Consumer credit products1,044 63 — — 1,107 
Other consumer finance5,118 476 (734)29 4,889 
Consumer finance6,162 539 (734)29 5,996 
Tax services— 911 — 739 1,650 
Warehouse finance263 6 — — 269 
Total National Lending21,021 5,157 (3,918)1,538 23,798 
Community Banking
Commercial real estate and operating6,208 (1,543)— — 4,665 
Consumer one-to-four family real estate and other1,053 (22)— — 1,031 
Agricultural real estate and operating867 (185)— — 682 
Total Community Banking8,218 (1,750)— — 6,378 
Total$29,149 $3,407 $(3,918)$1,538 $30,176 
The following tables provide additional disclosures previously required by ASC Topic 310 related to the Company's September 30, 2020 balances.

AllowanceLoans and Leases
(Dollars in Thousands)Ending Balance: Individually Evaluated for ImpairmentEnding Balance: Collectively Evaluated for ImpairmentTotalEnding Balance: Individually Evaluated for ImpairmentEnding Balance: Collectively Evaluated for ImpairmentTotal
Recorded Investment
National Lending
Term lending$3,155 $12,056 $15,211 $26,085 $779,238 $805,323 
Asset based lending355 1,051 1,406 5,317 177,102 182,419 
Factoring274 2,753 3,027 5,071 276,102 281,173 
Lease financing1,194 5,829 7,023 4,697 276,387 281,084 
Insurance premium finance— 2,129 2,129 — 337,940 337,940 
SBA/USDA— 940 940 1,436 316,951 318,387 
Other commercial finance— 182 182 — 101,658 101,658 
Commercial finance4,978 24,940 29,918 42,606 2,265,378 2,307,984 
Consumer credit products— 845 845 — 89,809 89,809 
Other consumer finance— 2,821 2,821 1,987 132,355 134,342 
Consumer finance— 3,666 3,666 1,987 222,164 224,151 
Tax services— 2 2 — 3,066 3,066 
Warehouse finance— 294 294 — 293,375 293,375 
Total National Lending4,978 28,902 33,880 44,593 2,783,983 2,828,576 
Community Banking
Commercial real estate and operating141 21,726 21,867 160 457,211 457,371 
Consumer one-to-four family real estate and other— 298 298 104 16,382 16,486 
Agricultural real estate and operating— 143 143 6,421 5,286 11,707 
Total Community Banking141 22,167 22,308 6,685 478,879 485,564 
Total$5,119 $51,069 $56,188 $51,278 $3,262,862 $3,314,140 
Asset Classification by Credit Quality Indicators of Loans and Leases
The amortized cost basis of loans and leases by asset classification and year of origination was as follows:

Amortized Cost Basis
(Dollars in Thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
As of December 31, 202020212020201920182017Prior
Term lending
Pass$107,414 $321,578 $130,293 $68,889 $46,776 $123,244 $— $798,194 
Watch718 4,081 8,058 915 3,850 11,660 — 29,282 
Special Mention— 6,322 4,220 1,332 269 2,101 — 14,244 
Substandard1,092 14,147 12,326 7,691 — 1,766 — 37,022 
Doubtful— 1,264 832 456 — 12 — 2,564 
Total109,224 347,392 155,729 79,283 50,895 138,783 — 881,306 
Asset based lending
Pass— — — — — — 147,064 147,064 
Watch— — — — — — 73,402 73,402 
Special Mention— — — — — — 19,750 19,750 
Substandard— — — — — — 2,082 2,082 
Total— — — — — — 242,298 242,298 
Factoring
Pass— — — — — — 217,566 217,566 
Watch— — — — — — 31,257 31,257 
Special Mention— — — — — — 18,779 18,779 
Substandard— — — — — — 8,048 8,048 
Total— — — — — — 275,650 275,650 
Lease financing
Pass32,970 161,904 51,762 16,780 1,282 2,297 — 266,995 
Watch132 6,619 236 954 272 55 — 8,268 
Special Mention— 2,048 1,295 213 — — — 3,556 
Substandard— 288 3,585 277 3 496 — 4,649 
Doubtful— 51 114 89 — — — 254 
Total33,102 170,910 56,992 18,313 1,557 2,848 — 283,722 
Insurance premium finance
Pass173,400 164,238 41 — — — — 337,679 
Watch— 127 3 — — — — 130 
Special Mention— 175 2 — — — — 177 
Substandard— 135 21 — — — — 156 
Doubtful— 83 2 — — — — 85 
Total173,400 164,758 69 — — — — 338,227 
SBA/USDA
Pass724 222,726 25,001 22,946 9,505 5,025 — 285,927 
Watch— 6,811 643 457 1,381 966 — 10,258 
Special Mention— — — 1,823 — 73 — 1,896 
Substandard— — — 1,209 703 714 — 2,626 
Total724 229,537 25,644 26,435 11,589 6,778 — 300,707 
Other commercial finance
Pass2,450 4,841 8,183 4,080 4,137 74,263 — 97,954 
Watch867 — — — — 2,107 — 2,974 
Special Mention— — — — — — — — 
Substandard— 281 — — — — — 281 
Total3,317 5,122 8,183 4,080 4,137 76,370 — 101,209 
Warehouse finance
Pass— — — — — — 318,937 318,937 
Total— — — — — — 318,937 318,937 
Total National Lending
Pass316,958 875,287 215,280 112,695 61,700 204,829 683,567 2,470,316 
Watch1,717 17,638 8,940 2,326 5,503 14,788 104,659 155,571 
Special Mention— 8,545 5,517 3,368 269 2,174 38,529 58,402 
Substandard1,092 14,851 15,932 9,177 706 2,976 10,130 54,864 
Doubtful— 1,398 948 545 — 12 — 2,903 
Total319,767 917,719 246,617 128,111 68,178 224,779 836,885 2,742,056 
Commercial real estate and operating
Pass— 10,122 99,181 75,915 32,338 50 300 217,906 
Watch— — 8,046 57,291 28,157 6,593 — 100,087 
Special Mention— 926 — — — 1,455 — 2,381 
Substandard— 300 700 16,896 — 311 — 18,207 
Doubtful— — 560 — — — — 560 
Total— 11,348 108,487 150,102 60,495 8,409 300 339,141 
Consumer 1-4 family real estate and other
Pass— — 161 645 381 2,940 8 4,135 
Watch— — — 236 — — — 236 
Special Mention— — — — 139 66 206 411 
Substandard— — 111 — 41 143 — 295 
Total— — 272 881 561 3,149 214 5,077 
Agricultural real estate and other
Pass— — 85 — — — — 85 
Watch— 1,583 — — — — — 1,583 
Special Mention— — — 111 — 2,694 — 2,805 
Substandard— 3,394 — 913 — 594 350 5,251 
Total— 4,977 85 1,024 — 3,288 350 9,724 
Total Community Bank
Pass— 10,122 99,427 76,560 32,719 2,990 308 222,126 
Watch— 1,583 8,046 57,527 28,157 6,593 — 101,906 
Special Mention— 926 — 111 139 4,215 206 5,597 
Substandard— 3,694 811 17,809 41 1,048 350 23,753 
Doubtful— — 560 — — — — 560 
Total— 16,325 108,844 152,007 61,056 14,846 864 353,942 
Total Loans and Leases
Pass316,958 885,409 314,707 189,255 94,419 207,819 683,875 2,692,442 
Watch1,717 19,221 16,986 59,853 33,660 21,381 104,659 257,477 
Special Mention— 9,471 5,517 3,479 408 6,389 38,735 63,999 
Substandard1,092 18,545 16,743 26,986 747 4,024 10,480 78,617 
Doubtful— 1,398 1,508 545 — 12 — 3,463 
Total$319,767 $934,044 $355,461 $280,118 $129,234 $239,625 $837,749 $3,095,998 
The recorded investment of loans and leases by asset classification was as follows:

Asset ClassificationPassWatchSpecial MentionSubstandardDoubtfulTotal
As of September 30, 2020(Dollars in Thousands)
National Lending
Term lending$725,101 $29,637 $24,501 $21,249 $4,835 $805,323 
Asset based lending102,013 62,512 12,577 5,317 — 182,419 
Factoring217,245 45,200 13,657 5,071 — 281,173 
Lease financing264,700 8,879 2,808 4,148 549 281,084 
Insurance premium finance336,364 284 222 701 369 337,940 
SBA/USDA308,549 8,328 74 1,436 — 318,387 
Other commercial finance100,727 931 — — — 101,658 
Commercial finance2,054,699 155,771 53,839 37,922 5,753 2,307,984 
Warehouse finance293,375 — — — — 293,375 
Total National Lending2,348,074 155,771 53,839 37,922 5,753 2,601,359 
Community Banking
Commercial real estate and operating336,236 98,295 4,049 18,211 580 457,371 
Consumer one-to-four family real estate and other15,648 41 609 188 — 16,486 
Agricultural real estate and operating1,526 — 4,930 5,251 — 11,707 
Total Community Banking353,410 98,336 9,588 23,650 580 485,564 
Total loans and leases$2,701,484 $254,107 $63,427 $61,572 $6,333 $3,086,923 
Past Due Loans and Leases
Past due loans and leases were as follows:

Accruing and Nonaccruing Loans and LeasesNonperforming Loans and Leases
(Dollars in Thousands)30-59 Days
Past Due		60-89 Days
Past Due		>
89 Days Past Due		Total Past
Due		CurrentTotal Loans and Leases
Receivable		> 89 Days Past Due and AccruingNon-accrual balanceTotal
As of December 31, 2020
Loans held for sale$165 $— $— $165 $133,494 $133,659 $— $— $— 
National Lending
Term lending8,467 2,442 10,211 21,120 860,186 881,306 385 13,741 14,126 
Asset based lending— — — — 242,298 242,298 — 917 917 
Factoring— — — — 275,650 275,650 — 842 842 
Lease financing11,257 4,144 3,424 18,825 264,897 283,722 1,042 2,607 3,649 
Insurance premium finance3,349 772 665 4,786 333,441 338,227 665 — 665 
SBA/USDA375 — 600 975 299,732 300,707 — 600 600 
Other commercial finance— — — — 101,209 101,209 — — — 
Commercial finance23,448 7,358 14,900 45,706 2,377,413 2,423,119 2,092 18,707 20,799 
Consumer credit products661 301 457 1,419 87,176 88,595 457 — 457 
Other consumer finance754 103 675 1,532 160,891 162,423 675 — 675 
Consumer finance1,415 404 1,132 2,951 248,067 251,018 1,132 — 1,132 
Tax services— — — — 92,548 92,548 — — — 
Warehouse finance— — — — 318,937 318,937 — — — 
Total National Lending24,863 7,762 16,032 48,657 3,036,965 3,085,622 3,224 18,707 21,931 
Community Banking
Commercial real estate and operating13 — 560 573 338,568 339,141 — 18,456 18,456 
Consumer one-to-four family real estate and other— — 50 50 5,027 5,077 — 164 164 
Agricultural real estate and operating— — 1,769 1,769 7,955 9,724 — 1,769 1,769 
Total Community Banking13 — 2,379 2,392 351,550 353,942 — 20,389 20,389 
Total loans and leases held for investment24,876 7,762 18,411 51,049 3,388,515 3,439,564 3,224 39,096 42,320 
Total loans and leases$25,041 $7,762 $18,411 $51,214 $3,522,009 $3,573,223 $3,224 $39,096 $42,320 
Accruing and Nonaccruing Loans and LeasesNonperforming Loans and Leases
(Dollars in Thousands)30-59 Days
Past Due		60-89 Days
Past Due		>
89 Days Past Due		Total Past
Due		CurrentTotal Loans and Leases
Receivable		> 89 Days Past Due and AccruingNon-accrual balanceTotal
As of September 30, 2020
Loans held for sale$— $— $— $— $183,577 $183,577 $— $— $— 
National Lending
Term lending11,900 3,851 6,390 22,141 783,182 805,323 266 16,274 16,540 
Asset based lending17 — — 17 182,402 182,419 — — — 
Factoring— — — — 281,173 281,173 — 1,096 1,096 
Lease financing194 9,746 6,882 16,822 264,262 281,084 4,344 3,583 7,927 
Insurance premium finance1,227 748 2,364 4,339 333,601 337,940 2,364 — 2,364 
SBA/USDA— — 1,027 1,027 317,360 318,387 427 600 1,027 
Other commercial finance— — — — 101,658 101,658 — — — 
Commercial finance13,338 14,345 16,663 44,346 2,263,638 2,307,984 7,401 21,553 28,954 
Consumer credit products377 358 499 1,233 88,576 89,809 499 — 499 
Other consumer finance600 536 373 1,509 132,833 134,342 373 — 373 
Consumer finance977 894 872 2,743 221,408 224,151 872 — 872 
Tax services— — 1,743 1,743 1,323 3,066 1,743 — 1,743 
Warehouse finance— — — — 293,375 293,375 — — — 
Total National Lending14,315 15,239 19,278 48,832 2,779,744 2,828,576 10,016 21,553 31,569 
Community Banking
Commercial real estate and operating— — 630 630 456,741 457,371 50 580 630 
Consumer one-to-four family real estate and other905 114 50 1,069 15,417 16,486 — 50 50 
Agricultural real estate and operating— — 1,769 1,769 9,938 11,707 — 1,769 1,769 
Total Community Banking905 114 2,449 3,468 482,096 485,564 50 2,399 2,449 
Total loans and leases held for investment15,220 15,353 21,727 52,300 3,261,840 3,314,140 10,066 23,952 34,018 
Total loans and leases$15,220 $15,353 $21,727 $52,300 $3,445,417 $3,497,717 $10,066 $23,952 $34,018 
Financing Receivable, Nonaccrual
Nonaccrual loans and leases by year of origination were as follows:

Amortized Cost Basis
(Dollars in Thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
December 31, 202020212020201920182017Prior
National Lending
Term lending$42 $4,051 $2,117 $3,051 $11 $4,469 $— $13,741 
Asset based lending— — — — — — 917 917 
Factoring— — — — — — 842 842 
Lease financing— 90 2,106 411 — — — 2,607 
SBA/USDA— — — — — 600 — 600 
Commercial finance42 4,141 4,223 3,462 11 5,069 1,759 18,707 
Total National Lending42 4,141 4,223 3,462 11 5,069 1,759 18,707 
Community Banking— 
Commercial real estate and operating— 1,260 — 300 13,618 3,278 — 18,456 
Consumer one-to-four family real estate and other— — 41 9 — 114 — 163 
Agricultural real estate and operating— — — 1,419 — — 350 1,769 
Total Community Banking— 1,260 41 1,727 13,618 3,392 350 20,388 
Total nonaccrual loans and leases$42 $5,401 $4,264 $5,189 $13,629 $8,461 $2,109 $39,096 

Loans and leases that are 90 days or more delinquent and accruing by year of origination were as follows:
Amortized Cost Basis
(Dollars in Thousands)Term Loans and Leases by Origination YearRevolving Loans and LeasesTotal
December 31, 202020212020201920182017Prior
National Lending
Term lending$— $— $131 $232 $— $22 $— $385 
Lease financing— 543 311 184 3 1 — 1,042 
Insurance premium finance— 641 24 — — — — 665 
Commercial finance— 1,184 466 416 3 23 — 2,092 
Other consumer finance— — — — — 675 — 675 
Consumer finance (1)
— — — — — 675 — 675 
Total National Lending— 1,184 466 416 3 698 — 2,767 
Total 90 days or more delinquent and accruing$— $1,184 $466 $416 $3 $698 $— $2,767 
(1) Consumer credit products are not included in the table as they are evaluated under a separate methodology for allowance for credit loss purposes that considers the overall Program structure. Refer to the Company’s most recent audited financial statements for additional information on these Programs.
Impaired Loans and Leases
Information on impaired loans and leases, all of which are deemed to be collateral dependent and are evaluated individually for the ACL, as of December 31, 2020 was as follows:

(Dollars in Thousands)December 31, 2020
National Lending
Term lending$12,879 
Asset based lending908 
Factoring842 
Lease financing2,420 
SBA/USDA600 
Commercial finance17,649 
Total National Lending17,649 
Community Banking
Commercial real estate and operating18,456 
Consumer one-to-four family real estate and other173 
Agricultural real estate and operating6,343 
Total Community Banking24,972 
Total$42,621 
Information on impaired loans and leases as of September 30, 2020 was as follows:

(Dollars in Thousands)Recorded
Balance		Unpaid Principal
Balance		Specific
Allowance
Loans and leases without a specific valuation allowance
National Lending
Term lending$17,349 $18,823 $— 
Asset based lending3,914 3,914 — 
Factoring3,892 4,967 — 
Lease financing1,797 1,805 — 
SBA/USDA1,436 2,263 — 
Commercial finance28,388 31,772 — 
Other consumer finance1,987 2,104 — 
Consumer finance1,987 2,104 — 
Total National Lending30,375 33,876 — 
Community Banking
Consumer one-to-four family real estate and other104 104 — 
Agricultural real estate and operating6,421 6,421 — 
Total Community Banking6,525 6,525 — 
Total$36,900 $40,401 $— 
Loans and leases with a specific valuation allowance
National Lending
Term lending$8,736 $8,736 $3,155 
Asset based lending1,403 1,403 355 
Factoring1,179 1,191 274 
Lease financing2,900 2,900 1,194 
Commercial finance14,218 14,230 4,978 
Total National Lending14,218 14,230 4,978 
Community Banking
Commercial real estate and operating160 160 141 
Total Community Banking Loans160 160 141 
Total$14,378 $14,390 $5,119 
The following table provides the average recorded investment in non-accrual loans and leases:

Three Months Ended December 31, 2020
(Dollars in Thousands)Average Recorded Investment
National Lending
Term lending$14,876 
Asset based lending1,074 
Factoring935 
Lease financing3,556 
SBA/USDA600 
Commercial finance21,041 
Total National Lending21,041 
Community Banking
Commercial real estate and operating6,539 
Consumer one-to-four family real estate and other125 
Agricultural real estate and operating1,769 
Total Community Banking8,433 
Total loans and leases$29,474 

The recognized interest income on the Company's nonaccrual loans and leases during the quarter ended December 31, 2020 was not significant.

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

Three Months Ended December 31, 2019
(Dollars in Thousands)Average Recorded InvestmentRecognized Interest Income
National Lending
Term lending$19,537 $74 
Asset based lending427 — 
Factoring3,849 — 
Lease financing3,686 — 
SBA/USDA3,788 — 
Commercial finance31,287 74 
Other consumer finance1,551 35 
Consumer finance1,551 35 
Total National Lending32,838 109 
Community Banking
Commercial real estate and operating446 13 
Consumer one-to-four family real estate and other90 8 
Agricultural real estate and operating2,921 42 
Total Community Banking3,457 63 
Total loans and leases$36,295 $172 
v3.20.4
EARNINGS PER COMMON SHARE ("EPS") (Tables)
 3 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Reconciliation of Net Income and Common Stock Share Amounts Used in Computation of Basic and Diluted EPS
A reconciliation of net income and common stock share amounts used in the computation of basic and diluted earnings per share is presented below.
Three Months Ended
December 31,
(Dollars in Thousands, Except Share and Per Share Data)20202019
Basic income per common share:
Net income attributable to Meta Financial Group, Inc.$28,037 $21,068 
Dividends and undistributed earnings allocated to participating securities(554)(460)
Basic net earnings available to common stockholders27,483 20,608 
Undistributed earnings allocated to nonvested restricted stockholders521 420 
Reallocation of undistributed earnings to nonvested restricted stockholders(521)(420)
Diluted net earnings available to common stockholders$27,483 $20,608 
Total weighted-average basic common shares outstanding32,782,285 36,613,699 
Effect of dilutive securities(1)
Stock options— 34,090 
Performance share units8,610 — 
Total effect of dilutive securities8,610 34,090 
Total weighted-average diluted common shares outstanding32,790,895 36,647,789 
Net earnings per common share:
Basic earnings per common share$0.84 $0.56 
Diluted earnings per common share(2)
$0.84 $0.56 
(1) Represents the effect of the assumed exercise of stock options and vesting of performance share units and restricted stock, as applicable, utilizing the treasury stock method.
(2) Excluded from the computation of diluted earnings per share for the three months ended December 31, 2020 and 2019, respectively, were 660,659 and 818,089 weighted average shares of nonvested restricted stock because their inclusion would be anti-dilutive.
v3.20.4
RENTAL EQUIPMENT, NET (Tables)
 3 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]  
Rental Equipment
Rental equipment consists of the following:
(Dollars in Thousands)December 31, 2020September 30, 2020
Computers and IT networking equipment$16,026 $15,926 
Motor vehicles and other47,800 52,913 
Office furniture and equipment78,850 74,197 
Solar panels and equipment122,071 118,808 
Total264,747 261,844 
Accumulated depreciation(59,673)(57,601)
Unamortized initial direct costs1,658 1,721 
Net book value$206,732 $205,964 
Schedule of Future Minimum Rental Payments for Operating Leases
Undiscounted future minimum lease payments expected to be received for operating leases were as follows:
(Dollars in Thousands)
Remaining in 2021$23,422 
202227,390 
202323,644 
202417,173 
202512,313 
Thereafter18,295 
Total undiscounted future minimum lease payments receivable for operating leases$122,237 
Undiscounted future minimum operating lease payments and a reconciliation to the amount recorded as operating lease liabilities were as follows:

(Dollars in Thousands)December 31, 2020
Remaining in 2021$2,880 
20223,580 
20232,899 
20242,908 
20252,755 
Thereafter15,765 
Total undiscounted future minimum lease payments 30,787 
Discount(4,082)
Total operating lease liabilities$26,705 
v3.20.4
FORECLOSURED REAL ESTATE AND REPOSSESSED ASSETS (Tables)
 3 Months Ended
Dec. 31, 2020
Real Estate [Abstract]  
Schedule of Changes in Foreclosed Real Estate and Repossessed Assets
The following table provides an analysis of changes in foreclosed real estate and repossessed assets:

Three Months Ended
December 31,
(Dollars in Thousands)20202019
Balance, beginning of period$9,957 $29,494 
Additions9 41 
Reductions:
Write-downs123 83 
Net proceeds from sale2,657 23,085 
(Gain) loss on sale— 5,039 
Total reductions2,780 28,207 
Balance, ending of period$7,186 $1,328 
v3.20.4
GOODWILL AND INTANGIBLE ASSETS (Tables)
 3 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
The changes in the carrying amount of the Company’s intangible assets for the three months ended December 31, 2020 and 2019 were as follows:

(Dollars in Thousands)
Trademark(1)
Non-Compete(2)
Customer Relationships(3)
All Others(4)
Total
Intangible Assets
Balance as of September 30, 2020$10,901 $422 $24,333 $6,036 $41,692 
Acquisitions during the period— — — 5 5 
Amortization during the period(272)(95)(1,486)(160)(2,013)
Write-offs during the period— — — (24)(24)
Balance as of December 31, 2020$10,629 $327 $22,847 $5,857 $39,660 
Gross carrying amount$14,624 $2,481 $82,088 $10,123 $109,316 
Accumulated amortization(3,995)(2,154)(48,993)(4,047)(59,189)
Accumulated impairment— — (10,248)(219)(10,467)
Balance as of December 31, 2020$10,629 $327 $22,847 $5,857 $39,660 
(1) Book amortization period of 5-15 years. Amortized using the straight line and accelerated methods.
(2) Book amortization period of 3-5 years. Amortized using the straight line method.
(3) Book amortization period of 10-30 years. Amortized using the accelerated method.
(4) Book amortization period of 3-20 years. Amortized using the straight line method.

(Dollars in Thousands)
Trademark(1)
Non-Compete(2)
Customer Relationships(3)
All Others(4)
Total
Intangible Assets
Balance as of September 30, 2019$11,959 $827 $33,207 $6,817 $52,810 
Acquisitions during the period— — — 17 17 
Amortization during the period(264)(113)(2,115)(184)(2,676)
Balance as of December 31, 2019$11,695 $714 $31,092 $6,650 $50,151 
Gross carrying amount$14,624 $2,480 $82,088 $10,719 $109,911 
Accumulated amortization(2,929)(1,766)(40,748)(3,410)(48,853)
Accumulated impairment— — (10,248)(659)(10,907)
Balance as of December 31, 2019$11,695 $714 $31,092 $6,650 $50,151 
(1) Book amortization period of 5-15 years. Amortized using the straight line and accelerated methods.
(2) Book amortization period of 3-5 years. Amortized using the straight line method.
(3) Book amortization period of 10-30 years. Amortized using the accelerated method.
(4) Book amortization period of 3-20 years. Amortized using the straight line method.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense Estimated amortization expense of intangible assets in the remaining nine months of fiscal 2021 and subsequent fiscal years was as follows:
(Dollars in Thousands)December 31, 2020
Remaining in 2021$6,532 
20226,420 
20235,102 
20244,384 
20253,826 
20263,252 
Thereafter10,144 
Total anticipated intangible amortization$39,660 
v3.20.4
OPERATING LEASE RIGHT OF USE ASSETS AND LIABILITIES (Tables)
 3 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Schedule of Future Minimum Rental Payments for Operating Leases
Undiscounted future minimum lease payments expected to be received for operating leases were as follows:
(Dollars in Thousands)
Remaining in 2021$23,422 
202227,390 
202323,644 
202417,173 
202512,313 
Thereafter18,295 
Total undiscounted future minimum lease payments receivable for operating leases$122,237 
Undiscounted future minimum operating lease payments and a reconciliation to the amount recorded as operating lease liabilities were as follows:

(Dollars in Thousands)December 31, 2020
Remaining in 2021$2,880 
20223,580 
20232,899 
20242,908 
20252,755 
Thereafter15,765 
Total undiscounted future minimum lease payments 30,787 
Discount(4,082)
Total operating lease liabilities$26,705 
Weighted-Average Discount Rate and Remaining Lease Term for Operating Leases
The weighted-average discount rate and remaining lease term for operating leases were as follows:

December 31, 2020
Weighted-average discount rate2.34 %
Weighted-average remaining lease term (years)11.23
The components of total lease costs for operating leases were as follows:
(Dollars in Thousands)Three Months Ended December 31, 2020
Lease expense$954 
Short-term and variable lease cost63 
ROU asset impairment224 
Sublease income(108)
Total lease cost for operating leases$1,133 
v3.20.4
STOCK COMPENSATION (Tables)
 3 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Nonvested Share Activity
The following tables show the activity of nonvested (restricted) shares and PSUs granted, exercised, or forfeited under the 2002 Omnibus Incentive Plan for the three months ended December 31, 2020. There were no options granted, exercised or forfeited under this plan during the three months ended December 31, 2020.

(Dollars in Thousands, Except Per Share Data)Number of SharesWeighted Average Fair Value at Grant
Nonvested shares outstanding, September 30, 2020
790,083 $30.03 
Granted136,087 26.22 
Vested(237,413)28.86 
Forfeited or expired(91,060)29.74 
Nonvested shares outstanding, December 31, 2020
597,697 $29.67 
(Dollars in Thousands, Except Per Share Data)Number of UnitsWeighted Average Fair Value at Grant
Performance share units outstanding, September 30, 2020
— $— 
Granted(1)
60,984 34.03 
Vested— — 
Forfeited or expired— — 
Performance share units outstanding, December 31, 2020
60,984 $34.03 
(1) The number of PSUs granted reflects the target number of PSUs able to be earned under a given award.
v3.20.4
INCOME TAXES (Tables)
 3 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation
The table below compares the income tax expense components for the periods presented.

Three Months Ended December 31,
(Dollars in Thousands)20202019
Provision at statutory rate$6,630 $4,567 
Tax-exempt income(249)(294)
State income taxes1,488 1,090 
Interim period effective rate adjustment5,467 860 
Tax credit investments, net - federal(10,123)(4,800)
Research tax credit(323)(1,709)
IRC 162(m) nondeductible compensation334 838 
Other, net309 128 
Income tax expense (benefit)$3,533 $680 
Effective tax rate10.77 %2.97 %
v3.20.4
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)
 3 Months Ended
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue by Major Customers by Reporting Segments The table below presents the Company’s revenue by operating segment. For additional descriptions of the Company’s operating segments, including additional financial information and the underlying management accounting process, see Note 17. Segment Reporting to the Condensed Consolidated Financial Statements.
(Dollars in Thousands)ConsumerCommercialCorporate Services/OtherConsolidated Company
Three Months Ended December 31,20202019202020192020201920202019
Net interest income(1)
$22,347 $16,557 $41,848 $39,736 $1,804 $8,358 $65,999 $64,651 
Noninterest income:
Refund transfer product fees647 192 — — — — 647 192 
Tax advance product fees(1)
1,960 2,276 — — — — 1,960 2,276 
Payment card and deposit fees22,564 21,499 — — — — 22,564 21,499 
Other bank and deposit fees— — 234 278 3 209 237 487 
Rental income(1)
5 4 9,880 11,034 — 1,313 9,885 12,351 
Gain (loss) on sale of other(1)
— 240 2,591 2,339 256 (5,147)2,847 (2,568)
Other income(1)
159 553 2,461 1,329 4,695 1,364 7,315 3,246 
Total noninterest income (expense)25,335 24,764 15,166 14,980 4,954 (2,261)45,455 37,483 
Revenue$47,682 $41,321 $57,014 $54,716 $6,758 $6,097 $111,454 $102,134 
(1) These revenues are not within the scope of Topic 606. Additional details are included in other footnotes to the accompanying financial statements. The scope of Topic 606 explicitly excludes net interest income as well as many other revenues for financial assets and liabilities, including loans, leases, and securities.
v3.20.4
SEGMENT REPORTING (Tables)
 3 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Information of Entity
The following tables present segment data for the Company:
Three Months Ended December 31, 2020
(Dollars in Thousands)ConsumerCommercial Corporate
Services/Other		Total
Net interest income$22,347 $41,848 $1,804 $65,999 
Provision for credit losses2,366 6,467 (2,744)6,089 
Noninterest income25,335 15,166 4,954 45,455 
Noninterest expense18,162 27,168 27,245 72,575 
Income (loss) before income tax expense (benefit)27,154 23,379 (17,743)32,790 
Total assets430,067 2,917,142 3,917,306 7,264,515 
Total goodwill87,145 222,360 — 309,505 
Total deposits5,884,638 13,230 309,923 6,207,791 
Three Months Ended December 31, 2019
(Dollars in Thousands)ConsumerCommercialCorporate
Services/Other		Total
Net interest income$16,557 $39,736 $8,358 $64,651 
Provision for loan and lease losses974 3,701 (1,268)3,407 
Noninterest income24,764 14,980 (2,261)37,483 
Noninterest expense16,741 26,726 32,331 75,798 
Income (loss) before income tax expense (benefit)23,606 24,289 (24,966)22,929 
Total assets447,963 2,494,253 3,238,710 6,180,926 
Total goodwill87,145 222,360 — 309,505 
Total deposits2,999,184 13,855 1,793,541 4,806,580 
v3.20.4
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Summary of Fair Values of Securities Available for Sale and Held to Maturity
The following tables summarize the fair values of debt securities available for sale and equity securities as they are measured at fair value on a recurring basis:
 Fair Value At December 31, 2020
(Dollars in Thousands)TotalLevel 1Level 2Level 3
Debt securities AFS    
SBA securities$162,009 $— $162,009 $— 
Obligations of states and political subdivisions2,840 — 2,840 — 
Non-bank qualified obligations of states and political subdivisions309,638 — 309,638 — 
Asset-backed securities322,876 — 322,876 — 
Mortgage-backed securities430,761 — 430,761 — 
Total debt securities AFS$1,228,124 $— $1,228,124 $— 
Common equities and mutual funds(1)
$3,148 $3,148 $— $— 
Non-marketable equity securities(2)
$3,896 $— $— $— 
(1) Equity securities at fair value are included within other assets on the Condensed Consolidated Statements of Financial Condition at December 31, 2020 and September 30, 2020.
(2) Consists of certain non-marketable equity securities that are measured at fair value using net asset value ("NAV") per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.

 Fair Value At September 30, 2020
(Dollars in Thousands)TotalLevel 1Level 2Level 3
Debt securities AFS    
SBA securities$164,955 $— $164,955 $— 
Obligations of states and political subdivisions841 — 841 — 
Non-bank qualified obligations of states and political subdivisions323,774 — 323,774 — 
Asset-backed securities324,925 — 324,925 — 
Mortgage-backed securities453,607 — 453,607 — 
Total debt securities AFS$1,268,102 $— $1,268,102 $— 
Common equities and mutual funds(1)
$2,969 $2,969 $— $— 
Non-marketable equity securities(2)
$2,784 $— $— $— 
(1) Equity securities at fair value are included within other assets on the Condensed Consolidated Statements of Financial Condition at December 31, 2020 and September 30, 2020.
(2) Consists of certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.
Assets Measured at Fair Value on Nonrecurring Basis
The following table summarizes the assets of the Company that are measured at fair value in the Condensed Consolidated Statements of Financial Condition on a non-recurring basis:

 Fair Value At December 31, 2020
(Dollars in Thousands)TotalLevel 1Level 2Level 3
Impaired loans and leases, net    
Commercial finance$4,080 $— $— $4,080 
Total National Lending4,080 — — 4,080 
Commercial real estate and operating9,029 — — 9,029 
Total Community Banking9,029 — — 9,029 
     Total impaired loans and leases, net13,109 — — 13,109 
Foreclosed assets, net7,186 — — 7,186 
Total$20,295 $— $— $20,295 

 Fair Value At September 30, 2020
(Dollars in Thousands)TotalLevel 1Level 2Level 3
Impaired loans and leases, net    
Commercial finance$9,240 $— $— $9,240 
Total National Lending9,240 — — 9,240 
Commercial real estate and operating20 — — 20 
Total Community Banking20 — — 20 
     Total impaired loans and leases, net9,260 — — 9,260 
Foreclosed assets, net9,957 — — 9,957 
Total$19,217 $— $— $19,217 
Quantitative Information about Level 3 Fair Value Measurements
 Quantitative Information About Level 3 Fair Value Measurements
(Dollars in Thousands)
Fair Value at
December 31, 2020
Fair Value at
September 30, 2020
Valuation
Technique		Unobservable InputRange of Inputs
Impaired loans and leases, net$13,109 9,260 Market approach
Appraised values(1)
4% - 90%
Foreclosed assets, net$7,186 9,957 Market approach
Appraised values(1)
4% - 30%
(1) The Company generally relies on external appraisers to develop this information. Management reduced the appraised value by estimating selling costs and other inputs in a range of 4% to 90%.
Carrying Amount and Estimated Fair Value of Financial Instruments
The following tables present the carrying amount and estimated fair value of the financial instruments held by the Company:
 December 31, 2020
(Dollars in Thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets
Cash and cash equivalents$1,586,451 $1,586,451 $1,586,451 $— $— 
Debt securities available for sale1,228,124 1,228,124 — 1,228,124 — 
Debt securities held to maturity81,328 82,927 — 82,927 — 
Common equities and mutual funds(1)
3,148 3,148 3,148 — — 
Non-marketable equity securities(1)(2)
17,646 17,646 — 13,750 — 
Loans held for sale133,659 133,659 — 133,659 — 
Loans and leases receivable3,439,564 3,426,720 — — 3,426,720 
Federal Reserve Bank and Federal Home Loan Bank stocks27,138 27,138 — 27,138 — 
Accrued interest receivable17,133 17,133 17,133 — — 
Financial liabilities
Deposits6,207,791 6,208,167 6,040,903 167,265 — 
Other short- and long-term borrowings96,760 98,873 — 98,873 — 
Accrued interest payable2,068 2,068 2,068 — — 
(1) Equity securities at fair value are included within other assets on the Condensed Consolidated Statements of Financial Condition at December 31, 2020 and September 30, 2020.
(2) Includes certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.

 September 30, 2020
(Dollars in Thousands)Carrying
Amount		Estimated
Fair Value		Level 1Level 2Level 3
Financial assets
Cash and cash equivalents$427,367 $427,367 $427,367 $— $— 
Debt securities available for sale1,268,102 1,268,102 — 1,268,102 — 
Debt securities held to maturity92,610 93,745 — 93,745 — 
Common equities and mutual funds(1)
2,969 2,969 2,969 — — 
Non-marketable equity securities(1)(2)
14,784 14,784 — 12,000 — 
Loans held for sale183,577 183,577 — 183,577 — 
Loans and leases receivable3,314,140 3,307,037 — — 3,307,037 
Federal Reserve Bank and Federal Home Loan Bank stocks27,138 27,138 — 27,138 — 
Accrued interest receivable16,628 16,628 16,628 — — 
Financial liabilities
Deposits4,979,200 4,980,073 4,705,028 275,045 — 
Overnight federal funds purchased— — — — — 
Federal Home Loan Bank advances— — — — — 
Other short- and long-term borrowings98,224 100,185 — 100,185 — 
Accrued interest payable1,923 1,923 1,923 — — 
(1) Equity securities at fair value are included within other assets on the Condensed Consolidated Statements of Financial Condition at December 31, 2020 and September 30, 2020.
(2) Includes certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.
v3.20.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES ("ASU") (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Oct. 01, 2020
Sep. 30, 2020
Dec. 31, 2019
Sep. 30, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Allowance for loan and lease losses $ 72,389   $ 56,188 $ 30,176 $ 29,149
Stockholders' equity 813,210   847,308 837,068 843,958
    Retained Earnings          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Stockholders' equity 198,000   234,927 244,005 252,813
Noncontrolling Interest          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Stockholders' equity 1,536   3,603 $ 4,305 $ 4,047
Unfunded commitments          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Allowance for loan and lease losses $ 688   32    
Adjustment          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Allowance for loan and lease losses   $ 12,800 12,773    
Stockholders' equity     (10,803)    
Adjustment |     Retained Earnings          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Stockholders' equity     (8,351)    
Adjustment | Noncontrolling Interest          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Stockholders' equity     (2,452)    
Adjustment | Unfunded commitments          
New Accounting Pronouncements or Change in Accounting Principle [Line Items]          
Allowance for loan and lease losses     $ 831    
v3.20.4
SIGNIFICANT EVENTS - Active COVID-19 Related Modifications (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Dec. 31, 2019
Loss Contingencies [Line Items]        
Loans and leases $ 3,448,675 $ 3,322,765    
Rental equipment, net 206,732 205,964    
Total assets 7,264,515 6,092,074   $ 6,180,926
COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 85,293 193,328 $ 326,045  
Rental equipment, net 0 0 819  
Total assets 85,293 193,328 326,864  
National Lending | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 24,974 72,633 174,673  
National Lending | Term lending | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 18,321 26,559 88,227  
National Lending | Asset based lending | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 1,124 7,924 17,657  
National Lending | Lease financing | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 1,637 5,896 27,310  
National Lending | Commercial finance | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 21,082 66,836 167,356  
National Lending | Consumer credit products | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 1,210 1,574 462  
National Lending | Other consumer finance | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 2,682 4,223 6,855  
National Lending | Consumer finance | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 3,892 5,797 7,317  
National Lending | Factoring | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 0 18,434 20,859  
National Lending | Insurance premium finance | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 0 230 5,505  
National Lending | SBA/USDA | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 0 7,724 7,724  
National Lending | Other commercial finance | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 0 69 74  
Community Banking | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 60,319 120,695 151,372  
Community Banking | Commercial real estate and operating | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases 60,319 120,695 148,838  
Community Banking | Consumer one-to-four family real estate and other | COVID-19 Related Modifications        
Loss Contingencies [Line Items]        
Loans and leases $ 0 $ 0 $ 2,534  
v3.20.4
DIVESTITURES (Details) - Community Bank - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Sep. 30, 2020
Feb. 29, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Deposit liabilities       $ 290,500
Loans       268,600
Premises, furniture, and equipment       4,900
Other assets       $ 1,300
Non-recurring income $ 19,300      
Servicing fee expense 1,100 $ 0 $ 3,500  
Additional loans sold $ 129,800 $ 0 $ 135,000  
v3.20.4
SECURITIES - Narrative (Details)
 3 Months Ended
Dec. 31, 2020
USD ($)
security
Sep. 30, 2020
USD ($)
Investments, Debt and Equity Securities [Abstract]    
AFS number of securities in an unrealized loss position (in securities) | security 27  
Equity securities without readily determinable fair value, amount $ 13,700,000 $ 11,000,000.0
Federal reserve bank stock 19,700,000 19,700,000
Federal home loan bank stock 7,500,000 $ 7,500,000
Impairment recognized $ 900,000  
v3.20.4
SECURITIES - Available for Sale (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Sep. 30, 2020
Available-for-sale debt securities [Abstract]    
Amortized Cost $ 1,201,561 $ 1,244,384
Fair Value 1,228,124 1,268,102
Amortized Cost    
Due in one year or less 720 1,385
Due after one year through five years 22,799 20,805
Due after five years through ten years 32,099 32,441
Due after ten years 727,553 749,874
Total 783,171 804,505
Mortgage-backed securities 418,390 439,879
Fair Value    
Due in one year or less 724 1,398
Due after one year through five years 23,707 21,769
Due after five years through ten years 33,738 34,025
Due after ten years 739,194 757,303
Total 797,363 814,495
Mortgage-backed securities 430,761 453,607
SBA securities    
Available-for-sale debt securities [Abstract]    
Amortized Cost 156,929 159,722
Gross Unrealized Gains 5,255 5,391
Gross Unrealized (Losses) (175) (158)
Fair Value 162,009 164,955
LESS THAN 12 MONTHS, Fair Value 40,938 32,257
LESS THAN 12 MONTHS, Unrealized (Losses) (81) (102)
OVER 12 MONTHS, Fair Value 18,623 9,875
OVER 12 MONTHS, Unrealized (Losses) (94) (56)
TOTAL, Fair Value 59,561 42,132
TOTAL, Unrealized (Losses) (175) (158)
Obligations of states and political subdivisions    
Available-for-sale debt securities [Abstract]    
Amortized Cost 2,823 825
Gross Unrealized Gains 17 16
Gross Unrealized (Losses) 0 0
Fair Value 2,840 841
Non-bank qualified obligations of states and political subdivisions    
Available-for-sale debt securities [Abstract]    
Amortized Cost 299,830 314,819
Gross Unrealized Gains 9,808 8,978
Gross Unrealized (Losses) 0 (23)
Fair Value 309,638 323,774
LESS THAN 12 MONTHS, Fair Value   6,265
LESS THAN 12 MONTHS, Unrealized (Losses)   (6)
OVER 12 MONTHS, Fair Value   3,103
OVER 12 MONTHS, Unrealized (Losses)   (17)
TOTAL, Fair Value   9,368
TOTAL, Unrealized (Losses)   (23)
Asset-backed securities    
Available-for-sale debt securities [Abstract]    
Amortized Cost 323,589 329,139
Gross Unrealized Gains 2,752 2,015
Gross Unrealized (Losses) (3,465) (6,229)
Fair Value 322,876 324,925
LESS THAN 12 MONTHS, Fair Value 60,713 106,474
LESS THAN 12 MONTHS, Unrealized (Losses) (136) (1,089)
OVER 12 MONTHS, Fair Value 200,240 178,686
OVER 12 MONTHS, Unrealized (Losses) (3,329) (5,140)
TOTAL, Fair Value 260,953 285,160
TOTAL, Unrealized (Losses) (3,465) (6,229)
Mortgage-backed securities    
Available-for-sale debt securities [Abstract]    
Amortized Cost 418,390 439,879
Gross Unrealized Gains 12,685 14,567
Gross Unrealized (Losses) (314) (839)
Fair Value 430,761 453,607
LESS THAN 12 MONTHS, Fair Value 62,494 138,338
LESS THAN 12 MONTHS, Unrealized (Losses) (314) (839)
OVER 12 MONTHS, Fair Value 0 0
OVER 12 MONTHS, Unrealized (Losses) 0 0
TOTAL, Fair Value 62,494 138,338
TOTAL, Unrealized (Losses) (314) (839)
Total debt securities AFS    
Available-for-sale debt securities [Abstract]    
Amortized Cost 1,201,561 1,244,384
Gross Unrealized Gains 30,517 30,967
Gross Unrealized (Losses) (3,954) (7,249)
Fair Value 1,228,124 1,268,102
LESS THAN 12 MONTHS, Fair Value 164,145 283,334
LESS THAN 12 MONTHS, Unrealized (Losses) (531) (2,036)
OVER 12 MONTHS, Fair Value 218,863 191,664
OVER 12 MONTHS, Unrealized (Losses) (3,423) (5,213)
TOTAL, Fair Value 383,008 474,998
TOTAL, Unrealized (Losses) $ (3,954) $ (7,249)
v3.20.4
SECURITIES - Held to Maturity (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Sep. 30, 2020
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]    
Total securities HTM, at cost $ 81,328 $ 92,610
Gross Unrealized Gains 1,599 1,164
Gross Unrealized (Losses) 0 (29)
Fair Value 82,927 93,745
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]    
LESS THAN 12 MONTHS, Fair Value   7,397
LESS THAN 12 MONTHS, Unrealized (Losses)   (9)
OVER 12 MONTHS, Fair Value   3,637
OVER 12 MONTHS, Unrealized (Losses)   (20)
TOTAL, Fair Value   11,034
TOTAL, Unrealized (Losses)   (29)
Amortized Cost    
Due after ten years 76,176 87,183
Total 76,176 87,183
Mortgage-backed securities 5,152 5,427
Total securities HTM, at cost 81,328 92,610
Fair Value    
Due after ten years 77,590 88,194
Total 77,590 88,194
Mortgage-backed securities 5,337 5,551
Fair Value 82,927 93,745
Non-bank qualified obligations of states and political subdivisions    
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]    
Total securities HTM, at cost 76,176 87,183
Gross Unrealized Gains 1,414 1,040
Gross Unrealized (Losses) 0 (29)
Fair Value 77,590 88,194
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]    
LESS THAN 12 MONTHS, Fair Value   7,397
LESS THAN 12 MONTHS, Unrealized (Losses)   (9)
OVER 12 MONTHS, Fair Value   3,637
OVER 12 MONTHS, Unrealized (Losses)   (20)
TOTAL, Fair Value   11,034
TOTAL, Unrealized (Losses)   (29)
Amortized Cost    
Total securities HTM, at cost 76,176 87,183
Fair Value    
Fair Value 77,590 88,194
Mortgage-backed securities    
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]    
Total securities HTM, at cost 5,152 5,427
Gross Unrealized Gains 185 124
Gross Unrealized (Losses) 0 0
Fair Value 5,337 5,551
Amortized Cost    
Total securities HTM, at cost 5,152 5,427
Fair Value    
Fair Value $ 5,337 $ 5,551
v3.20.4
LOANS AND LEASES, NET - Summary of Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Sep. 30, 2020
Dec. 31, 2019
Sep. 30, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases $ 3,439,564 $ 3,314,140    
Net deferred loan origination fees (costs) 9,111 8,625    
Total gross loans and leases 3,448,675 3,322,765    
Allowance for credit losses (72,389) (56,188) $ (30,176) $ (29,149)
Total loans and leases, net 3,376,286 3,266,577    
National Lending        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 3,085,622 2,828,576    
Allowance for credit losses (58,202) (33,880) (23,798) (21,021)
National Lending | Term lending        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 881,306 805,323    
Allowance for credit losses (28,220) (15,211) (6,750) (5,533)
National Lending | Asset based lending        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 242,298 182,419    
Allowance for credit losses (1,809) (1,406) (1,995) (2,437)
National Lending | Factoring        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 275,650 281,173    
Allowance for credit losses (3,719) (3,027) (3,548) (3,261)
National Lending | Lease financing        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 283,722 281,084    
Allowance for credit losses (6,784) (7,023) (1,695) (1,275)
National Lending | Insurance premium finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 338,227 337,940    
Allowance for credit losses (1,285) (2,129) (970) (1,024)
National Lending | SBA/USDA        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 300,707 318,387    
Allowance for credit losses (3,164) (940) (765) (383)
National Lending | Other commercial finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 101,209 101,658    
Allowance for credit losses (479) (182) (160) (683)
National Lending | Commercial finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 2,423,119 2,307,984    
Allowance for credit losses (45,460) (29,918) (15,883) (14,596)
National Lending | Consumer credit products        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 88,595 89,809    
Allowance for credit losses (835) (845) (1,107) (1,044)
National Lending | Other consumer finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 162,423 134,342    
Allowance for credit losses (10,176) (2,821) (4,889) (5,118)
National Lending | Consumer finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 251,018 224,151    
Allowance for credit losses (11,011) (3,666) (5,996) (6,162)
National Lending | Tax services        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 92,548 3,066    
Allowance for credit losses (1,412) (2) (1,650) 0
National Lending | Warehouse finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 318,937 293,375    
Allowance for credit losses (319) (294) (269) (263)
Community Banking        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 353,942 485,564    
Allowance for credit losses (14,187) (22,308) (6,378) (8,218)
Community Banking | Commercial real estate and operating        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 339,141 457,371    
Allowance for credit losses (14,121) (21,867) (4,665) (6,208)
Community Banking | Consumer one-to-four family real estate and other        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 5,077 16,486    
Allowance for credit losses (19) (298) (1,031) (1,053)
Community Banking | Agricultural real estate and operating        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans and leases 9,724 11,707    
Allowance for credit losses $ (47) $ (143) $ (682) $ (867)
v3.20.4
LOANS AND LEASES, NET - Schedule of Loans Purchased and Sold, by Portfolio Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans Purchased, Total purchases $ 64,930 $ 18,813
Loans Sold, Loans held for sale 451,652 143,035
Loans Sold, Total sales 451,652 146,134
National Lending    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans Purchased, Total purchases 62,631 14,464
Loans Sold, Loans held for sale 321,864 143,035
Community Banking    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans Purchased, Total purchases 2,299 4,349
Loans Sold, Loans held for sale 129,788 0
Loans Sold, Loans held for investment $ 0 $ 3,099
v3.20.4
LOANS AND LEASES, NET - Direct Financing and Sales-type Leases, and Lease Receivable Maturity (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Sep. 30, 2020
Net Investment in Lease [Abstract]      
Carrying Amount $ 300,748   $ 299,487
Unguaranteed residual assets 17,488   17,203
Unamortized initial direct costs 2,056   2,078
Unearned income (34,514)   (35,606)
Total net investment in direct financing and sales-type leases 285,778   $ 283,162
Operating Lease, Lease Income [Abstract]      
Interest income on net investments in direct financing and sales-type leases 5,319 $ 4,087  
Lease income from operating lease payments 10,041 11,203  
Profit (loss) recorded on commencement date on sales-type leases 71 471  
Other 69 750  
Total leasing and equipment finance noninterest income 10,181 12,424  
Total lease income 15,500 $ 16,511  
Sales-type and Direct Financing Leases, Lease Receivable, Fiscal Year Maturity [Abstract]      
Remaining in 2021 85,352    
2022 95,224    
2023 66,168    
2024 36,759    
2025 13,669    
Thereafter 3,576    
Equipment under leases not yet commenced 0    
Total undiscounted future minimum lease payments receivable for direct financing and sales-type leases 300,748    
Third-party residual value guarantees 0    
Total carrying amount of direct financing and sales-type leases $ 300,748    
v3.20.4
LOANS AND LEASES, NET - Allowance for Loan Losses and Recorded Investment in Loans (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2020
Oct. 01, 2020
Sep. 30, 2020
Allowance for Credit Losses [Roll Forward]          
Beginning Balance $ 56,188 $ 29,149      
Provision (recovery) for loan and lease losses 6,264 3,407      
Charge-offs (5,674) (3,918)      
Recoveries 2,838 1,538      
Ending Balance 72,389 30,176      
Ending Balance: Individually Evaluated for Impairment         $ 5,119
Ending Balance: Collectively Evaluated for Impairment         51,069
Total 56,188 30,176 $ 72,389   56,188
Loans:          
Ending balance: individually evaluated for impairment         51,278
Ending balance: collectively evaluated for impairment         3,262,862
Total     3,439,564   3,314,140
Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 12,773        
Total 12,773     $ 12,800 12,773
Unfunded commitments          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 32        
Provision (recovery) for loan and lease losses (175)        
Charge-offs 0        
Recoveries 0        
Ending Balance 688        
Total 688   688   32
Unfunded commitments | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 831        
Total 831       831
Total Committed Loans          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 56,220        
Provision (recovery) for loan and lease losses 6,089        
Charge-offs (5,674)        
Recoveries 2,838        
Ending Balance 73,077        
Total 73,077   73,077   56,220
Total Committed Loans | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 13,604        
Total 13,604       13,604
National Lending          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 33,880 21,021      
Provision (recovery) for loan and lease losses 8,437 5,157      
Charge-offs (5,663) (3,918)      
Recoveries 2,838 1,538      
Ending Balance 58,202 23,798      
Ending Balance: Individually Evaluated for Impairment         4,978
Ending Balance: Collectively Evaluated for Impairment         28,902
Total 58,202 23,798 58,202   33,880
Loans:          
Ending balance: individually evaluated for impairment         44,593
Ending balance: collectively evaluated for impairment         2,783,983
Total     3,085,622   2,828,576
National Lending | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 18,710        
Total 18,710       18,710
National Lending | Term lending          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 15,211 5,533      
Provision (recovery) for loan and lease losses 6,026 3,401      
Charge-offs (3,312) (2,295)      
Recoveries 296 111      
Ending Balance 28,220 6,750      
Ending Balance: Individually Evaluated for Impairment         3,155
Ending Balance: Collectively Evaluated for Impairment         12,056
Total 28,220 6,750 28,220   15,211
Loans:          
Ending balance: individually evaluated for impairment         26,085
Ending balance: collectively evaluated for impairment         779,238
Total     881,306   805,323
National Lending | Term lending | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 9,999        
Total 9,999       9,999
National Lending | Asset based lending          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 1,406 2,437      
Provision (recovery) for loan and lease losses 839 (461)      
Charge-offs (600) 0      
Recoveries 0 19      
Ending Balance 1,809 1,995      
Ending Balance: Individually Evaluated for Impairment         355
Ending Balance: Collectively Evaluated for Impairment         1,051
Total 1,809 1,995 1,809   1,406
Loans:          
Ending balance: individually evaluated for impairment         5,317
Ending balance: collectively evaluated for impairment         177,102
Total     242,298   182,419
National Lending | Asset based lending | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 164        
Total 164       164
National Lending | Factoring          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 3,027 3,261      
Provision (recovery) for loan and lease losses (1,416) 257      
Charge-offs (1) (389)      
Recoveries 1,122 419      
Ending Balance 3,719 3,548      
Ending Balance: Individually Evaluated for Impairment         274
Ending Balance: Collectively Evaluated for Impairment         2,753
Total 3,027 3,548 3,719   3,027
Loans:          
Ending balance: individually evaluated for impairment         5,071
Ending balance: collectively evaluated for impairment         276,102
Total     275,650   281,173
National Lending | Factoring | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 987        
Total 987       987
National Lending | Lease financing          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 7,023 1,275      
Provision (recovery) for loan and lease losses 1,112 504      
Charge-offs (876) (215)      
Recoveries 81 131      
Ending Balance 6,784 1,695      
Ending Balance: Individually Evaluated for Impairment         1,194
Ending Balance: Collectively Evaluated for Impairment         5,829
Total 7,023 1,695 6,784   7,023
Loans:          
Ending balance: individually evaluated for impairment         4,697
Ending balance: collectively evaluated for impairment         276,387
Total     283,722   281,084
National Lending | Lease financing | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance (556)        
Total (556)       (556)
National Lending | Insurance premium finance          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 2,129 1,024      
Provision (recovery) for loan and lease losses 488 141      
Charge-offs (656) (285)      
Recoveries 289 90      
Ending Balance 1,285 970      
Ending Balance: Individually Evaluated for Impairment         0
Ending Balance: Collectively Evaluated for Impairment         2,129
Total 1,285 970 1,285   2,129
Loans:          
Ending balance: individually evaluated for impairment         0
Ending balance: collectively evaluated for impairment         337,940
Total     338,227   337,940
National Lending | Insurance premium finance | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance (965)        
Total (965)       (965)
National Lending | SBA/USDA          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 940 383      
Provision (recovery) for loan and lease losses (497) 382      
Charge-offs 0 0      
Recoveries 1 0      
Ending Balance 3,164 765      
Ending Balance: Individually Evaluated for Impairment         0
Ending Balance: Collectively Evaluated for Impairment         940
Total 940 765 3,164   940
Loans:          
Ending balance: individually evaluated for impairment         1,436
Ending balance: collectively evaluated for impairment         316,951
Total     300,707   318,387
National Lending | SBA/USDA | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 2,720        
Total 2,720       2,720
National Lending | Other commercial finance          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 182 683      
Provision (recovery) for loan and lease losses (67) (523)      
Charge-offs 0 0      
Recoveries 0 0      
Ending Balance 479 160      
Ending Balance: Individually Evaluated for Impairment         0
Ending Balance: Collectively Evaluated for Impairment         182
Total 182 160 479   182
Loans:          
Ending balance: individually evaluated for impairment         0
Ending balance: collectively evaluated for impairment         101,658
Total     101,209   101,658
National Lending | Other commercial finance | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 364        
Total 364       364
National Lending | Commercial finance          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 29,918 14,596      
Provision (recovery) for loan and lease losses 6,485 3,701      
Charge-offs (5,445) (3,184)      
Recoveries 1,789 770      
Ending Balance 45,460 15,883      
Ending Balance: Individually Evaluated for Impairment         4,978
Ending Balance: Collectively Evaluated for Impairment         24,940
Total 29,918 15,883 45,460   29,918
Loans:          
Ending balance: individually evaluated for impairment         42,606
Ending balance: collectively evaluated for impairment         2,265,378
Total     2,423,119   2,307,984
National Lending | Commercial finance | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 12,713        
Total 12,713       12,713
National Lending | Consumer credit products          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 845 1,044      
Provision (recovery) for loan and lease losses (10) 63      
Charge-offs 0 0      
Recoveries 0 0      
Ending Balance 835 1,107      
Ending Balance: Individually Evaluated for Impairment         0
Ending Balance: Collectively Evaluated for Impairment         845
Total 845 1,107 835   845
Loans:          
Ending balance: individually evaluated for impairment         0
Ending balance: collectively evaluated for impairment         89,809
Total     88,595   89,809
National Lending | Consumer credit products | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 0        
Total 0       0
National Lending | Other consumer finance          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 2,821 5,118      
Provision (recovery) for loan and lease losses 1,482 476      
Charge-offs (218) (734)      
Recoveries 93 29      
Ending Balance 10,176 4,889      
Ending Balance: Individually Evaluated for Impairment         0
Ending Balance: Collectively Evaluated for Impairment         2,821
Total 10,176 4,889 10,176   2,821
Loans:          
Ending balance: individually evaluated for impairment         1,987
Ending balance: collectively evaluated for impairment         132,355
Total     162,423   134,342
National Lending | Other consumer finance | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 5,998        
Total 5,998       5,998
National Lending | Consumer finance          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 3,666 6,162      
Provision (recovery) for loan and lease losses 1,472 539      
Charge-offs (218) (734)      
Recoveries 93 29      
Ending Balance 11,011 5,996      
Ending Balance: Individually Evaluated for Impairment         0
Ending Balance: Collectively Evaluated for Impairment         3,666
Total 11,011 5,996 11,011   3,666
Loans:          
Ending balance: individually evaluated for impairment         1,987
Ending balance: collectively evaluated for impairment         222,164
Total     251,018   224,151
National Lending | Consumer finance | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 5,998        
Total 5,998       5,998
National Lending | Tax services          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 2 0      
Provision (recovery) for loan and lease losses 454 911      
Charge-offs 0 0      
Recoveries 956 739      
Ending Balance 1,412 1,650      
Ending Balance: Individually Evaluated for Impairment         0
Ending Balance: Collectively Evaluated for Impairment         2
Total 1,412 1,650 1,412   2
Loans:          
Ending balance: individually evaluated for impairment         0
Ending balance: collectively evaluated for impairment         3,066
Total     92,548   3,066
National Lending | Tax services | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 0        
Total 0       0
National Lending | Warehouse finance          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 294 263      
Provision (recovery) for loan and lease losses 26 6      
Charge-offs 0 0      
Recoveries 0 0      
Ending Balance 319 269      
Ending Balance: Individually Evaluated for Impairment         0
Ending Balance: Collectively Evaluated for Impairment         294
Total 294 269 319   294
Loans:          
Ending balance: individually evaluated for impairment         0
Ending balance: collectively evaluated for impairment         293,375
Total     318,937   293,375
National Lending | Warehouse finance | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance (1)        
Total (1)       (1)
Community Banking          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 22,308 8,218      
Provision (recovery) for loan and lease losses (2,173) (1,750)      
Charge-offs (11) 0      
Recoveries 0 0      
Ending Balance 14,187 6,378      
Ending Balance: Individually Evaluated for Impairment         141
Ending Balance: Collectively Evaluated for Impairment         22,167
Total 14,187 6,378 14,187   22,308
Loans:          
Ending balance: individually evaluated for impairment         6,685
Ending balance: collectively evaluated for impairment         478,879
Total     353,942   485,564
Community Banking | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance (5,937)        
Total (5,937)       (5,937)
Community Banking | Commercial real estate and operating          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 21,867 6,208      
Provision (recovery) for loan and lease losses (2,119) (1,543)      
Charge-offs (11) 0      
Recoveries 0 0      
Ending Balance 14,121 4,665      
Ending Balance: Individually Evaluated for Impairment         141
Ending Balance: Collectively Evaluated for Impairment         21,726
Total 14,121 4,665 14,121   21,867
Loans:          
Ending balance: individually evaluated for impairment         160
Ending balance: collectively evaluated for impairment         457,211
Total     339,141   457,371
Community Banking | Commercial real estate and operating | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance (5,616)        
Total (5,616)       (5,616)
Community Banking | Consumer one-to-four family real estate and other          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 298 1,053      
Provision (recovery) for loan and lease losses (32) (22)      
Charge-offs 0 0      
Recoveries 0 0      
Ending Balance 19 1,031      
Ending Balance: Individually Evaluated for Impairment         0
Ending Balance: Collectively Evaluated for Impairment         298
Total 19 1,031 19   298
Loans:          
Ending balance: individually evaluated for impairment         104
Ending balance: collectively evaluated for impairment         16,382
Total     5,077   16,486
Community Banking | Consumer one-to-four family real estate and other | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance (247)        
Total (247)       (247)
Community Banking | Agricultural real estate and operating          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance 143 867      
Provision (recovery) for loan and lease losses (22) (185)      
Charge-offs 0 0      
Recoveries 0 0      
Ending Balance 47 682      
Ending Balance: Individually Evaluated for Impairment         0
Ending Balance: Collectively Evaluated for Impairment         143
Total 47 $ 682 47   143
Loans:          
Ending balance: individually evaluated for impairment         6,421
Ending balance: collectively evaluated for impairment         5,286
Total     $ 9,724   11,707
Community Banking | Agricultural real estate and operating | Adjustment          
Allowance for Credit Losses [Roll Forward]          
Beginning Balance (74)        
Total $ (74)       $ (74)
v3.20.4
LOANS AND LEASES, NET - Impaired Loans (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Sep. 30, 2020
Loans and leases without a specific valuation allowance      
Recorded Balance     $ 36,900
Unpaid Principal Balance     40,401
Impaired loans, unpaid balance $ 42,621    
Loans with a specific valuation allowance      
Recorded Balance     14,378
Unpaid Principal Balance     14,390
Specific Allowance     5,119
Average Recorded Investment 29,474 $ 36,295  
Recognized Interest Income [In Process]   172  
National Lending      
Loans and leases without a specific valuation allowance      
Recorded Balance     30,375
Unpaid Principal Balance     33,876
Impaired loans, unpaid balance 17,649    
Loans with a specific valuation allowance      
Recorded Balance     14,218
Unpaid Principal Balance     14,230
Specific Allowance     4,978
Average Recorded Investment 21,041 32,838  
Recognized Interest Income [In Process]   109  
National Lending | Term lending      
Loans and leases without a specific valuation allowance      
Recorded Balance     17,349
Unpaid Principal Balance     18,823
Impaired loans, unpaid balance 12,879    
Loans with a specific valuation allowance      
Recorded Balance     8,736
Unpaid Principal Balance     8,736
Specific Allowance     3,155
Average Recorded Investment 14,876 19,537  
Recognized Interest Income [In Process]   74  
National Lending | Asset based lending      
Loans and leases without a specific valuation allowance      
Recorded Balance     3,914
Unpaid Principal Balance     3,914
Impaired loans, unpaid balance 908    
Loans with a specific valuation allowance      
Recorded Balance     1,403
Unpaid Principal Balance     1,403
Specific Allowance     355
Average Recorded Investment 1,074 427  
Recognized Interest Income [In Process]   0  
National Lending | Factoring      
Loans and leases without a specific valuation allowance      
Recorded Balance     3,892
Unpaid Principal Balance     4,967
Impaired loans, unpaid balance 842    
Loans with a specific valuation allowance      
Recorded Balance     1,179
Unpaid Principal Balance     1,191
Specific Allowance     274
Average Recorded Investment 935 3,849  
Recognized Interest Income [In Process]   0  
National Lending | Lease financing      
Loans and leases without a specific valuation allowance      
Recorded Balance     1,797
Unpaid Principal Balance     1,805
Impaired loans, unpaid balance 2,420    
Loans with a specific valuation allowance      
Recorded Balance     2,900
Unpaid Principal Balance     2,900
Specific Allowance     1,194
Average Recorded Investment 3,556 3,686  
Recognized Interest Income [In Process]   0  
National Lending | SBA/USDA      
Loans and leases without a specific valuation allowance      
Recorded Balance     1,436
Unpaid Principal Balance     2,263
Impaired loans, unpaid balance 600    
Loans with a specific valuation allowance      
Average Recorded Investment 600 3,788  
Recognized Interest Income [In Process]   0  
National Lending | Commercial finance      
Loans and leases without a specific valuation allowance      
Recorded Balance     28,388
Unpaid Principal Balance     31,772
Impaired loans, unpaid balance 17,649    
Loans with a specific valuation allowance      
Recorded Balance     14,218
Unpaid Principal Balance     14,230
Specific Allowance     4,978
Average Recorded Investment 21,041 31,287  
Recognized Interest Income [In Process]   74  
National Lending | Other consumer finance      
Loans and leases without a specific valuation allowance      
Recorded Balance     1,987
Unpaid Principal Balance     2,104
Loans with a specific valuation allowance      
Average Recorded Investment   1,551  
Recognized Interest Income [In Process]   35  
National Lending | Consumer finance      
Loans and leases without a specific valuation allowance      
Recorded Balance     1,987
Unpaid Principal Balance     2,104
Loans with a specific valuation allowance      
Average Recorded Investment   1,551  
Recognized Interest Income [In Process]   35  
Community Banking      
Loans and leases without a specific valuation allowance      
Recorded Balance     6,525
Unpaid Principal Balance     6,525
Impaired loans, unpaid balance 24,972    
Loans with a specific valuation allowance      
Recorded Balance     160
Unpaid Principal Balance     160
Specific Allowance     141
Average Recorded Investment 8,433 3,457  
Recognized Interest Income [In Process]   63  
Community Banking | Commercial real estate and operating      
Loans and leases without a specific valuation allowance      
Impaired loans, unpaid balance 18,456    
Loans with a specific valuation allowance      
Recorded Balance     160
Unpaid Principal Balance     160
Specific Allowance     141
Average Recorded Investment 6,539 446  
Recognized Interest Income [In Process]   13  
Community Banking | Consumer one-to-four family real estate and other      
Loans and leases without a specific valuation allowance      
Recorded Balance     104
Unpaid Principal Balance     104
Impaired loans, unpaid balance 173    
Loans with a specific valuation allowance      
Average Recorded Investment 125 90  
Recognized Interest Income [In Process]   8  
Community Banking | Agricultural real estate and operating      
Loans and leases without a specific valuation allowance      
Recorded Balance     6,421
Unpaid Principal Balance     $ 6,421
Impaired loans, unpaid balance 6,343    
Loans with a specific valuation allowance      
Average Recorded Investment $ 1,769 2,921  
Recognized Interest Income [In Process]   $ 42  
v3.20.4
LOANS AND LEASES, NET - Credit Quality Indicator (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Sep. 30, 2020
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases $ 3,448,675 $ 3,322,765
Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 316,958  
2020 885,409  
2019 314,707  
2018 189,255  
2017 94,419  
Prior 207,819  
Revolving Loans and Leases 683,875  
Total gross loans and leases 2,692,442 2,701,484
Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 1,717  
2020 19,221  
2019 16,986  
2018 59,853  
2017 33,660  
Prior 21,381  
Revolving Loans and Leases 104,659  
Total gross loans and leases 257,477 254,107
Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 9,471  
2019 5,517  
2018 3,479  
2017 408  
Prior 6,389  
Revolving Loans and Leases 38,735  
Total gross loans and leases 63,999 63,427
Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 1,092  
2020 18,545  
2019 16,743  
2018 26,986  
2017 747  
Prior 4,024  
Revolving Loans and Leases 10,480  
Total gross loans and leases 78,617 61,572
Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 1,398  
2019 1,508  
2018 545  
2017 0  
Prior 12  
Revolving Loans and Leases 0  
Total gross loans and leases 3,463 6,333
Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 319,767  
2020 934,044  
2019 355,461  
2018 280,118  
2017 129,234  
Prior 239,625  
Revolving Loans and Leases 837,749  
Total gross loans and leases 3,095,998 3,086,923
National Lending | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 316,958  
2020 875,287  
2019 215,280  
2018 112,695  
2017 61,700  
Prior 204,829  
Revolving Loans and Leases 683,567  
Total gross loans and leases 2,470,316 2,348,074
National Lending | Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 1,717  
2020 17,638  
2019 8,940  
2018 2,326  
2017 5,503  
Prior 14,788  
Revolving Loans and Leases 104,659  
Total gross loans and leases 155,571 155,771
National Lending | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 8,545  
2019 5,517  
2018 3,368  
2017 269  
Prior 2,174  
Revolving Loans and Leases 38,529  
Total gross loans and leases 58,402 53,839
National Lending | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 1,092  
2020 14,851  
2019 15,932  
2018 9,177  
2017 706  
Prior 2,976  
Revolving Loans and Leases 10,130  
Total gross loans and leases 54,864 37,922
National Lending | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 1,398  
2019 948  
2018 545  
2017 0  
Prior 12  
Revolving Loans and Leases 0  
Total gross loans and leases 2,903 5,753
National Lending | Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 319,767  
2020 917,719  
2019 246,617  
2018 128,111  
2017 68,178  
Prior 224,779  
Revolving Loans and Leases 836,885  
Total gross loans and leases 2,742,056 2,601,359
National Lending | Term lending | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 107,414  
2020 321,578  
2019 130,293  
2018 68,889  
2017 46,776  
Prior 123,244  
Revolving Loans and Leases 0  
Total gross loans and leases 798,194 725,101
National Lending | Term lending | Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 718  
2020 4,081  
2019 8,058  
2018 915  
2017 3,850  
Prior 11,660  
Revolving Loans and Leases 0  
Total gross loans and leases 29,282 29,637
National Lending | Term lending | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 6,322  
2019 4,220  
2018 1,332  
2017 269  
Prior 2,101  
Revolving Loans and Leases 0  
Total gross loans and leases 14,244 24,501
National Lending | Term lending | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 1,092  
2020 14,147  
2019 12,326  
2018 7,691  
2017 0  
Prior 1,766  
Revolving Loans and Leases 0  
Total gross loans and leases 37,022 21,249
National Lending | Term lending | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 1,264  
2019 832  
2018 456  
2017 0  
Prior 12  
Revolving Loans and Leases 0  
Total gross loans and leases 2,564 4,835
National Lending | Term lending | Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 109,224  
2020 347,392  
2019 155,729  
2018 79,283  
2017 50,895  
Prior 138,783  
Revolving Loans and Leases 0  
Total gross loans and leases 881,306 805,323
National Lending | Asset based lending | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 147,064  
Total gross loans and leases 147,064 102,013
National Lending | Asset based lending | Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 73,402  
Total gross loans and leases 73,402 62,512
National Lending | Asset based lending | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 19,750  
Total gross loans and leases 19,750 12,577
National Lending | Asset based lending | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 2,082  
Total gross loans and leases 2,082 5,317
National Lending | Asset based lending | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   0
National Lending | Asset based lending | Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 242,298  
Total gross loans and leases 242,298 182,419
National Lending | Factoring | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 217,566  
Total gross loans and leases 217,566 217,245
National Lending | Factoring | Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 31,257  
Total gross loans and leases 31,257 45,200
National Lending | Factoring | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 18,779  
Total gross loans and leases 18,779 13,657
National Lending | Factoring | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 8,048  
Total gross loans and leases 8,048 5,071
National Lending | Factoring | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   0
National Lending | Factoring | Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 275,650  
Total gross loans and leases 275,650 281,173
National Lending | Lease financing | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 32,970  
2020 161,904  
2019 51,762  
2018 16,780  
2017 1,282  
Prior 2,297  
Revolving Loans and Leases 0  
Total gross loans and leases 266,995 264,700
National Lending | Lease financing | Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 132  
2020 6,619  
2019 236  
2018 954  
2017 272  
Prior 55  
Revolving Loans and Leases 0  
Total gross loans and leases 8,268 8,879
National Lending | Lease financing | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 2,048  
2019 1,295  
2018 213  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 3,556 2,808
National Lending | Lease financing | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 288  
2019 3,585  
2018 277  
2017 3  
Prior 496  
Revolving Loans and Leases 0  
Total gross loans and leases 4,649 4,148
National Lending | Lease financing | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 51  
2019 114  
2018 89  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 254 549
National Lending | Lease financing | Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 33,102  
2020 170,910  
2019 56,992  
2018 18,313  
2017 1,557  
Prior 2,848  
Revolving Loans and Leases 0  
Total gross loans and leases 283,722 281,084
National Lending | Insurance premium finance | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 173,400  
2020 164,238  
2019 41  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 337,679 336,364
National Lending | Insurance premium finance | Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 127  
2019 3  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 130 284
National Lending | Insurance premium finance | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 175  
2019 2  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 177 222
National Lending | Insurance premium finance | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 135  
2019 21  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 156 701
National Lending | Insurance premium finance | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 83  
2019 2  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 85 369
National Lending | Insurance premium finance | Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 173,400  
2020 164,758  
2019 69  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 338,227 337,940
National Lending | SBA/USDA | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 724  
2020 222,726  
2019 25,001  
2018 22,946  
2017 9,505  
Prior 5,025  
Revolving Loans and Leases 0  
Total gross loans and leases 285,927 308,549
National Lending | SBA/USDA | Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 6,811  
2019 643  
2018 457  
2017 1,381  
Prior 966  
Revolving Loans and Leases 0  
Total gross loans and leases 10,258 8,328
National Lending | SBA/USDA | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 1,823  
2017 0  
Prior 73  
Revolving Loans and Leases 0  
Total gross loans and leases 1,896 74
National Lending | SBA/USDA | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 1,209  
2017 703  
Prior 714  
Revolving Loans and Leases 0  
Total gross loans and leases 2,626 1,436
National Lending | SBA/USDA | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   0
National Lending | SBA/USDA | Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 724  
2020 229,537  
2019 25,644  
2018 26,435  
2017 11,589  
Prior 6,778  
Revolving Loans and Leases 0  
Total gross loans and leases 300,707 318,387
National Lending | Other commercial finance | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 2,450  
2020 4,841  
2019 8,183  
2018 4,080  
2017 4,137  
Prior 74,263  
Revolving Loans and Leases 0  
Total gross loans and leases 97,954 100,727
National Lending | Other commercial finance | Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 867  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 2,107  
Revolving Loans and Leases 0  
Total gross loans and leases 2,974 931
National Lending | Other commercial finance | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 0 0
National Lending | Other commercial finance | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 281  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 281 0
National Lending | Other commercial finance | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   0
National Lending | Other commercial finance | Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 3,317  
2020 5,122  
2019 8,183  
2018 4,080  
2017 4,137  
Prior 76,370  
Revolving Loans and Leases 0  
Total gross loans and leases 101,209 101,658
National Lending | Commercial finance | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   2,054,699
National Lending | Commercial finance | Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   155,771
National Lending | Commercial finance | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   53,839
National Lending | Commercial finance | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   37,922
National Lending | Commercial finance | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   5,753
National Lending | Commercial finance | Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   2,307,984
National Lending | Warehouse finance | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 318,937  
Total gross loans and leases 318,937 293,375
National Lending | Warehouse finance | Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   0
National Lending | Warehouse finance | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   0
National Lending | Warehouse finance | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   0
National Lending | Warehouse finance | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   0
National Lending | Warehouse finance | Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 318,937  
Total gross loans and leases 318,937 293,375
Community Banking | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 10,122  
2019 99,427  
2018 76,560  
2017 32,719  
Prior 2,990  
Revolving Loans and Leases 308  
Total gross loans and leases 222,126 353,410
Community Banking | Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 1,583  
2019 8,046  
2018 57,527  
2017 28,157  
Prior 6,593  
Revolving Loans and Leases 0  
Total gross loans and leases 101,906 98,336
Community Banking | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 926  
2019 0  
2018 111  
2017 139  
Prior 4,215  
Revolving Loans and Leases 206  
Total gross loans and leases 5,597 9,588
Community Banking | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 3,694  
2019 811  
2018 17,809  
2017 41  
Prior 1,048  
Revolving Loans and Leases 350  
Total gross loans and leases 23,753 23,650
Community Banking | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 560  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 560 580
Community Banking | Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 16,325  
2019 108,844  
2018 152,007  
2017 61,056  
Prior 14,846  
Revolving Loans and Leases 864  
Total gross loans and leases 353,942 485,564
Community Banking | Commercial real estate and operating | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 10,122  
2019 99,181  
2018 75,915  
2017 32,338  
Prior 50  
Revolving Loans and Leases 300  
Total gross loans and leases 217,906 336,236
Community Banking | Commercial real estate and operating | Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 8,046  
2018 57,291  
2017 28,157  
Prior 6,593  
Revolving Loans and Leases 0  
Total gross loans and leases 100,087 98,295
Community Banking | Commercial real estate and operating | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 926  
2019 0  
2018 0  
2017 0  
Prior 1,455  
Revolving Loans and Leases 0  
Total gross loans and leases 2,381 4,049
Community Banking | Commercial real estate and operating | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 300  
2019 700  
2018 16,896  
2017 0  
Prior 311  
Revolving Loans and Leases 0  
Total gross loans and leases 18,207 18,211
Community Banking | Commercial real estate and operating | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 560  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 560 580
Community Banking | Commercial real estate and operating | Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 11,348  
2019 108,487  
2018 150,102  
2017 60,495  
Prior 8,409  
Revolving Loans and Leases 300  
Total gross loans and leases 339,141 457,371
Community Banking | Consumer one-to-four family real estate and other | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 161  
2018 645  
2017 381  
Prior 2,940  
Revolving Loans and Leases 8  
Total gross loans and leases 4,135 15,648
Community Banking | Consumer one-to-four family real estate and other | Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 236  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 236 41
Community Banking | Consumer one-to-four family real estate and other | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 139  
Prior 66  
Revolving Loans and Leases 206  
Total gross loans and leases 411 609
Community Banking | Consumer one-to-four family real estate and other | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 111  
2018 0  
2017 41  
Prior 143  
Revolving Loans and Leases 0  
Total gross loans and leases 295 188
Community Banking | Consumer one-to-four family real estate and other | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   0
Community Banking | Consumer one-to-four family real estate and other | Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 272  
2018 881  
2017 561  
Prior 3,149  
Revolving Loans and Leases 214  
Total gross loans and leases 5,077 16,486
Community Banking | Agricultural real estate and operating | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 85  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 85 1,526
Community Banking | Agricultural real estate and operating | Watch    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 1,583  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Total gross loans and leases 1,583 0
Community Banking | Agricultural real estate and operating | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 0  
2019 0  
2018 111  
2017 0  
Prior 2,694  
Revolving Loans and Leases 0  
Total gross loans and leases 2,805 4,930
Community Banking | Agricultural real estate and operating | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 3,394  
2019 0  
2018 913  
2017 0  
Prior 594  
Revolving Loans and Leases 350  
Total gross loans and leases 5,251 5,251
Community Banking | Agricultural real estate and operating | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total gross loans and leases   0
Community Banking | Agricultural real estate and operating | Total    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021 0  
2020 4,977  
2019 85  
2018 1,024  
2017 0  
Prior 3,288  
Revolving Loans and Leases 350  
Total gross loans and leases $ 9,724 $ 11,707
v3.20.4
LOANS AND LEASES, NET - Past Due Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Sep. 30, 2020
Financing Receivable, Past Due [Line Items]    
Loans and leases $ 3,448,675 $ 3,322,765
Accruing and Nonaccruing Loans and Leases    
Financing Receivable, Past Due [Line Items]    
Total Past Due 51,214 52,300
Current 3,522,009 3,445,417
Loans and leases 3,573,223 3,497,717
Accruing and Nonaccruing Loans and Leases | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Total Past Due 51,049 52,300
Current 3,388,515 3,261,840
Loans and leases 3,439,564 3,314,140
Accruing and Nonaccruing Loans and Leases | National Lending    
Financing Receivable, Past Due [Line Items]    
Total Past Due 48,657 48,832
Current 3,036,965 2,779,744
Loans and leases 3,085,622 2,828,576
Accruing and Nonaccruing Loans and Leases | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Total Past Due 165 0
Current 133,494 183,577
Loans and leases 133,659 183,577
Accruing and Nonaccruing Loans and Leases | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Total Past Due 21,120 22,141
Current 860,186 783,182
Loans and leases 881,306 805,323
Accruing and Nonaccruing Loans and Leases | National Lending | Asset based lending    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 17
Current 242,298 182,402
Loans and leases 242,298 182,419
Accruing and Nonaccruing Loans and Leases | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Current 275,650 281,173
Loans and leases 275,650 281,173
Accruing and Nonaccruing Loans and Leases | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Total Past Due 18,825 16,822
Current 264,897 264,262
Loans and leases 283,722 281,084
Accruing and Nonaccruing Loans and Leases | National Lending | Insurance premium finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 4,786 4,339
Current 333,441 333,601
Loans and leases 338,227 337,940
Accruing and Nonaccruing Loans and Leases | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Total Past Due 975 1,027
Current 299,732 317,360
Loans and leases 300,707 318,387
Accruing and Nonaccruing Loans and Leases | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Current 101,209 101,658
Loans and leases 101,209 101,658
Accruing and Nonaccruing Loans and Leases | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 45,706 44,346
Current 2,377,413 2,263,638
Loans and leases 2,423,119 2,307,984
Accruing and Nonaccruing Loans and Leases | National Lending | Consumer credit products    
Financing Receivable, Past Due [Line Items]    
Total Past Due 1,419 1,233
Current 87,176 88,576
Loans and leases 88,595 89,809
Accruing and Nonaccruing Loans and Leases | National Lending | Other consumer finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 1,532 1,509
Current 160,891 132,833
Loans and leases 162,423 134,342
Accruing and Nonaccruing Loans and Leases | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 2,951 2,743
Current 248,067 221,408
Loans and leases 251,018 224,151
Accruing and Nonaccruing Loans and Leases | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 1,743
Current 92,548 1,323
Loans and leases 92,548 3,066
Accruing and Nonaccruing Loans and Leases | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Current 318,937 293,375
Loans and leases 318,937 293,375
Accruing and Nonaccruing Loans and Leases | Community Banking    
Financing Receivable, Past Due [Line Items]    
Total Past Due 2,392 3,468
Current 351,550 482,096
Loans and leases 353,942 485,564
Accruing and Nonaccruing Loans and Leases | Community Banking | Commercial real estate and operating    
Financing Receivable, Past Due [Line Items]    
Total Past Due 573 630
Current 338,568 456,741
Loans and leases 339,141 457,371
Accruing and Nonaccruing Loans and Leases | Community Banking | Consumer one-to-four family real estate and other    
Financing Receivable, Past Due [Line Items]    
Total Past Due 50 1,069
Current 5,027 15,417
Loans and leases 5,077 16,486
Accruing and Nonaccruing Loans and Leases | Community Banking | Agricultural real estate and operating    
Financing Receivable, Past Due [Line Items]    
Total Past Due 1,769 1,769
Current 7,955 9,938
Loans and leases 9,724 11,707
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total Past Due 25,041 15,220
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Total Past Due 24,876 15,220
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending    
Financing Receivable, Past Due [Line Items]    
Total Past Due 24,863 14,315
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Total Past Due 165 0
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Total Past Due 8,467 11,900
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Asset based lending    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 17
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Total Past Due 11,257 194
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Insurance premium finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 3,349 1,227
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Total Past Due 375 0
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 23,448 13,338
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Consumer credit products    
Financing Receivable, Past Due [Line Items]    
Total Past Due 661 377
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Other consumer finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 754 600
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 1,415 977
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | Community Banking    
Financing Receivable, Past Due [Line Items]    
Total Past Due 13 905
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | Community Banking | Commercial real estate and operating    
Financing Receivable, Past Due [Line Items]    
Total Past Due 13 0
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | Community Banking | Consumer one-to-four family real estate and other    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 905
Accruing and Nonaccruing Loans and Leases | 30-59 Days Past Due | Community Banking | Agricultural real estate and operating    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total Past Due 7,762 15,353
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Total Past Due 7,762 15,353
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending    
Financing Receivable, Past Due [Line Items]    
Total Past Due 7,762 15,239
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Total Past Due 2,442 3,851
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Asset based lending    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Total Past Due 4,144 9,746
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Insurance premium finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 772 748
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 7,358 14,345
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Consumer credit products    
Financing Receivable, Past Due [Line Items]    
Total Past Due 301 358
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Other consumer finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 103 536
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 404 894
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | Community Banking    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 114
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | Community Banking | Commercial real estate and operating    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | Community Banking | Consumer one-to-four family real estate and other    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 114
Accruing and Nonaccruing Loans and Leases | 60-89 Days Past Due | Community Banking | Agricultural real estate and operating    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Total Past Due 18,411 21,727
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Total Past Due 18,411 21,727
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending    
Financing Receivable, Past Due [Line Items]    
Total Past Due 16,032 19,278
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Total Past Due 10,211 6,390
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending | Asset based lending    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Total Past Due 3,424 6,882
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending | Insurance premium finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 665 2,364
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Total Past Due 600 1,027
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 14,900 16,663
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending | Consumer credit products    
Financing Receivable, Past Due [Line Items]    
Total Past Due 457 499
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending | Other consumer finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 675 373
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 1,132 872
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 1,743
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Total Past Due 0 0
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | Community Banking    
Financing Receivable, Past Due [Line Items]    
Total Past Due 2,379 2,449
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | Community Banking | Commercial real estate and operating    
Financing Receivable, Past Due [Line Items]    
Total Past Due 560 630
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | Community Banking | Consumer one-to-four family real estate and other    
Financing Receivable, Past Due [Line Items]    
Total Past Due 50 50
Accruing and Nonaccruing Loans and Leases | Greater Than 90 Days | Community Banking | Agricultural real estate and operating    
Financing Receivable, Past Due [Line Items]    
Total Past Due 1,769 1,769
Nonperforming Loans and Leases    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 39,096 23,952
Loans and leases 42,320 34,018
Nonperforming Loans and Leases | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 39,096 23,952
Loans and leases 42,320 34,018
Nonperforming Loans and Leases | National Lending    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 18,707 21,553
Loans and leases 21,931 31,569
Nonperforming Loans and Leases | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 0
Loans and leases 0 0
Nonperforming Loans and Leases | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 13,741 16,274
Loans and leases 14,126 16,540
Nonperforming Loans and Leases | National Lending | Asset based lending    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 917 0
Loans and leases 917 0
Nonperforming Loans and Leases | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 842 1,096
Loans and leases 842 1,096
Nonperforming Loans and Leases | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 2,607 3,583
Loans and leases 3,649 7,927
Nonperforming Loans and Leases | National Lending | Insurance premium finance    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 0
Loans and leases 665 2,364
Nonperforming Loans and Leases | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 600 600
Loans and leases 600 1,027
Nonperforming Loans and Leases | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 0
Loans and leases 0 0
Nonperforming Loans and Leases | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 18,707 21,553
Loans and leases 20,799 28,954
Nonperforming Loans and Leases | National Lending | Consumer credit products    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 0
Loans and leases 457 499
Nonperforming Loans and Leases | National Lending | Other consumer finance    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 0
Loans and leases 675 373
Nonperforming Loans and Leases | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 0
Loans and leases 1,132 872
Nonperforming Loans and Leases | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 0
Loans and leases 0 1,743
Nonperforming Loans and Leases | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 0
Loans and leases 0 0
Nonperforming Loans and Leases | Community Banking    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 20,389 2,399
Loans and leases 20,389 2,449
Nonperforming Loans and Leases | Community Banking | Commercial real estate and operating    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 18,456 580
Loans and leases 18,456 630
Nonperforming Loans and Leases | Community Banking | Consumer one-to-four family real estate and other    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 164 50
Loans and leases 164 50
Nonperforming Loans and Leases | Community Banking | Agricultural real estate and operating    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 1,769 1,769
Loans and leases 1,769 1,769
Nonperforming Loans and Leases | Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 3,224 10,066
Nonperforming Loans and Leases | Greater Than 90 Days | Total loans and leases held for investment    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 3,224 10,066
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 3,224 10,016
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending | Loans held for sale    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 0
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending | Term lending    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 385 266
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending | Asset based lending    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 0
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending | Factoring    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 0
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending | Lease financing    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 1,042 4,344
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending | Insurance premium finance    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 665 2,364
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending | SBA/USDA    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 427
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending | Other commercial finance    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 0
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending | Commercial finance    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 2,092 7,401
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending | Consumer credit products    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 457 499
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending | Other consumer finance    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 675 373
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending | Consumer finance    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 1,132 872
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending | Tax services    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 1,743
Nonperforming Loans and Leases | Greater Than 90 Days | National Lending | Warehouse finance    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 0
Nonperforming Loans and Leases | Greater Than 90 Days | Community Banking    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 50
Nonperforming Loans and Leases | Greater Than 90 Days | Community Banking | Commercial real estate and operating    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 50
Nonperforming Loans and Leases | Greater Than 90 Days | Community Banking | Consumer one-to-four family real estate and other    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance 0 0
Nonperforming Loans and Leases | Greater Than 90 Days | Community Banking | Agricultural real estate and operating    
Financing Receivable, Past Due [Line Items]    
Non-accrual balance $ 0 $ 0
v3.20.4
LOANS AND LEASES, NET - Nonaccrual (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Sep. 30, 2020
Financing Receivable, Nonaccrual [Line Items]    
Loans and leases $ 3,448,675 $ 3,322,765
Nonaccrual Loans    
Financing Receivable, Nonaccrual [Line Items]    
2021 42  
2020 5,401  
2019 4,264  
2018 5,189  
2017 13,629  
Prior 8,461  
Revolving Loans and Leases 2,109  
Loans and leases 39,096  
Nonaccrual Loans | National Lending    
Financing Receivable, Nonaccrual [Line Items]    
2021 42  
2020 4,141  
2019 4,223  
2018 3,462  
2017 11  
Prior 5,069  
Revolving Loans and Leases 1,759  
Loans and leases 18,707  
Nonaccrual Loans | National Lending | Term lending    
Financing Receivable, Nonaccrual [Line Items]    
2021 42  
2020 4,051  
2019 2,117  
2018 3,051  
2017 11  
Prior 4,469  
Revolving Loans and Leases 0  
Loans and leases 13,741  
Nonaccrual Loans | National Lending | Asset based lending    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 917  
Loans and leases 917  
Nonaccrual Loans | National Lending | Factoring    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 842  
Loans and leases 842  
Nonaccrual Loans | National Lending | Lease financing    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 90  
2019 2,106  
2018 411  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Loans and leases 2,607  
Nonaccrual Loans | National Lending | SBA/USDA    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 600  
Revolving Loans and Leases 0  
Loans and leases 600  
Nonaccrual Loans | National Lending | Commercial finance    
Financing Receivable, Nonaccrual [Line Items]    
2021 42  
2020 4,141  
2019 4,223  
2018 3,462  
2017 11  
Prior 5,069  
Revolving Loans and Leases 1,759  
Loans and leases 18,707  
Nonaccrual Loans | Community Banking    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 1,260  
2019 41  
2018 1,727  
2017 13,618  
Prior 3,392  
Revolving Loans and Leases 350  
Loans and leases 20,388  
Nonaccrual Loans | Community Banking | Commercial real estate and operating    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 1,260  
2019 0  
2018 300  
2017 13,618  
Prior 3,278  
Revolving Loans and Leases 0  
Loans and leases 18,456  
Nonaccrual Loans | Community Banking | Consumer one-to-four family real estate and other    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 0  
2019 41  
2018 9  
2017 0  
Prior 114  
Revolving Loans and Leases 0  
Loans and leases 163  
Nonaccrual Loans | Community Banking | Agricultural real estate and operating    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 0  
2019 0  
2018 1,419  
2017 0  
Prior 0  
Revolving Loans and Leases 350  
Loans and leases 1,769  
90 or More Days Delinquent and Accruing    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 1,184  
2019 466  
2018 416  
2017 3  
Prior 698  
Revolving Loans and Leases 0  
Loans and leases 2,767  
90 or More Days Delinquent and Accruing | National Lending    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 1,184  
2019 466  
2018 416  
2017 3  
Prior 698  
Revolving Loans and Leases 0  
Loans and leases 2,767  
90 or More Days Delinquent and Accruing | National Lending | Term lending    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 0  
2019 131  
2018 232  
2017 0  
Prior 22  
Revolving Loans and Leases 0  
Loans and leases 385  
90 or More Days Delinquent and Accruing | National Lending | Lease financing    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 543  
2019 311  
2018 184  
2017 3  
Prior 1  
Revolving Loans and Leases 0  
Loans and leases 1,042  
90 or More Days Delinquent and Accruing | National Lending | Insurance premium finance    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 641  
2019 24  
2018 0  
2017 0  
Prior 0  
Revolving Loans and Leases 0  
Loans and leases 665  
90 or More Days Delinquent and Accruing | National Lending | Commercial finance    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 1,184  
2019 466  
2018 416  
2017 3  
Prior 23  
Revolving Loans and Leases 0  
Loans and leases 2,092  
90 or More Days Delinquent and Accruing | National Lending | Other consumer finance    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 675  
Revolving Loans and Leases 0  
Loans and leases 675  
90 or More Days Delinquent and Accruing | National Lending | Consumer finance    
Financing Receivable, Nonaccrual [Line Items]    
2021 0  
2020 0  
2019 0  
2018 0  
2017 0  
Prior 675  
Revolving Loans and Leases 0  
Loans and leases $ 675  
v3.20.4
LOANS AND LEASES, NET - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Sep. 30, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and leases to held for sale $ 100,442 $ 251,913  
Originated loans held for sale 303,501 16,175  
Proceeds from sale of loans held-for-sale 451,700 143,000  
Gain (loss) on sale of loans and leases 3,500 1,900  
Carrying amount of direct financing and sales-type leases subject to residual value guarantees 8,400    
Provision for credit losses 6,089 3,407  
Loans and leases $ 3,448,675   $ 3,322,765
COVID-19 Pandemic      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Trial modifications, threshold of past due days prior to onset of pandemic effects 30 days    
Loans and leases still in deferment period $ 84,200    
Consumer finance portfolio segment      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and leases 251,000   224,200
Tax services loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and leases 92,500   $ 3,100
National Lending      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
TDRs recorded investment 100 400  
TDRs subsequent default, recorded investment 400 300  
National Lending | Other Consumer Finance, SBA/USDA and Consumer Credit Product Loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Originated loans held for sale 303,500    
National Lending | SBA/USDA and Consumer Credit Product Loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Originated loans held for sale   16,200  
Community Banking      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans and leases to held for sale 100,400 251,900  
TDRs recorded investment 0 600  
TDRs subsequent default, recorded investment $ 0 $ 1,200  
Minimum | COVID-19 Pandemic      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Trial modifications, payment deferral period 30 days    
Maximum | COVID-19 Pandemic      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Trial modifications, payment deferral period 6 months    
v3.20.4
LOANS AND LEASES, NET - Troubled Debt Restructured Loans (Details) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
National Lending    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
TDRs recorded investment $ 0.1 $ 0.4
TDRs subsequent default, recorded investment 0.4 0.3
Community Banking    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
TDRs recorded investment 0.0 0.6
TDRs subsequent default, recorded investment $ 0.0 $ 1.2
v3.20.4
EARNINGS PER COMMON SHARE ("EPS") (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Earnings Per Common Share, Basic and Diluted [Abstract]    
Net income attributable to Meta Financial Group, Inc. $ 28,037 $ 21,068
Dividends and undistributed earnings allocated to participating securities (554) (460)
Basic net earnings available to common stockholders 27,483 20,608
Undistributed earnings allocated to nonvested restricted stockholders 521 420
Reallocation of undistributed earnings to nonvested restricted stockholders (521) (420)
Diluted net earnings available to common stockholders $ 27,483 $ 20,608
Total weighted average common shares outstanding (in shares) 32,782,285 36,613,699
Total effect of dilutive securities (in shares) 8,610 34,090
Weighted average dilutive common shares outstanding (in shares) 32,790,895 36,647,789
Basic income per common share (in dollars per share) $ 0.84 $ 0.56
Diluted income per common share (in dollars per share) $ 0.84 $ 0.56
Weighted average shares of nonvested restricted stock, antidilutive (in shares) 660,659 818,089
Stock options    
Earnings Per Common Share, Basic and Diluted [Abstract]    
Outstanding options - based upon the two-class method (in shares) 0 34,090
Performance share units    
Earnings Per Common Share, Basic and Diluted [Abstract]    
Outstanding options - based upon the two-class method (in shares) 8,610 0
v3.20.4
RENTAL EQUIPMENT, NET - Schedule of Rental Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Sep. 30, 2020
Property, Plant and Equipment [Line Items]    
Total $ 264,747 $ 261,844
Accumulated depreciation (59,673) (57,601)
Unamortized initial direct costs 1,658 1,721
Net book value 206,732 205,964
Computers and IT networking equipment    
Property, Plant and Equipment [Line Items]    
Total 16,026 15,926
Motor vehicles and other    
Property, Plant and Equipment [Line Items]    
Total 47,800 52,913
Office furniture and equipment    
Property, Plant and Equipment [Line Items]    
Total 78,850 74,197
Solar panels and equipment    
Property, Plant and Equipment [Line Items]    
Total $ 122,071 $ 118,808
v3.20.4
RENTAL EQUIPMENT, NET - Schedule of Operating Leases, Future Minimum Payments (Details)
$ in Thousands
Dec. 31, 2020
USD ($)
Property, Plant and Equipment [Abstract]  
Remaining in 2021 $ 23,422
2022 27,390
2023 23,644
2024 17,173
2025 12,313
Thereafter 18,295
Total undiscounted future minimum lease payments receivable for operating leases $ 122,237
v3.20.4
FORECLOSURED REAL ESTATE AND REPOSSESSED ASSETS - Foreclosed and Repossessed Assets (Details) - Foreclosed Property - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Sep. 30, 2020
Other Real Estate [Roll Forward]      
Balance, beginning of period $ 9,957 $ 29,494 $ 29,494
Additions 9 41  
Write-downs 123 83  
Net proceeds from sale 2,657 23,085  
(Gain) loss on sale 0 5,039 5,000
Total reductions 2,780 28,207 28,100
Balance, ending of period $ 7,186 $ 1,328 $ 9,957
v3.20.4
FORECLOSURED REAL ESTATE AND REPOSSESSED ASSETS - Other Real Estate Owned (Details) - USD ($)
 12 Months Ended
Sep. 30, 2020
Dec. 31, 2020
Real Estate [Line Items]    
TDR valuation allowance $ 500,000 $ 600,000
Community Bank    
Real Estate [Line Items]    
Loans in process of foreclosure, amount 0 $ 0
Agriculture Real Estate Customer | Agricultural real estate and operating    
Real Estate [Line Items]    
Revenue recognized in deferred rental income 1,100,000  
OREO expenses $ 200,000  
v3.20.4
GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($)
Dec. 31, 2020
Sep. 30, 2020
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]      
Total goodwill $ 309,505,000 $ 309,505,000 $ 309,505,000
Goodwill, accumulated impairment $ 0    
v3.20.4
GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Asses (Details) - USD ($)
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Finite-lived Intangible Assets [Roll Forward]        
Beginning Balance $ 41,692,000 $ 52,810,000    
Acquisitions during the period 5,000 17,000    
Amortization during the period (2,013,000) (2,676,000)    
Write-offs during the period (24,000)      
Ending Balance 39,660,000 50,151,000    
Gross carrying amount     $ 109,316,000 $ 109,911,000
Accumulated amortization     (59,189,000) (48,853,000)
Accumulated impairment     (10,467,000) (10,907,000)
Total anticipated intangible amortization 39,660,000 50,151,000 39,660,000 50,151,000
Asset impairment charges 0 0    
Trademarks [Member]        
Finite-lived Intangible Assets [Roll Forward]        
Beginning Balance 10,901,000 11,959,000    
Acquisitions during the period 0 0    
Amortization during the period (272,000) (264,000)    
Write-offs during the period 0      
Ending Balance 10,629,000 11,695,000    
Gross carrying amount     14,624,000 14,624,000
Accumulated amortization     (3,995,000) (2,929,000)
Accumulated impairment     0 0
Total anticipated intangible amortization $ 10,629,000 $ 11,695,000 10,629,000 11,695,000
Trademarks [Member] | Maximum        
Finite-lived Intangible Assets [Roll Forward]        
Useful life (in years) 15 years 15 years    
Trademarks [Member] | Minimum        
Finite-lived Intangible Assets [Roll Forward]        
Useful life (in years) 5 years 5 years    
Noncompete Agreements [Member]        
Finite-lived Intangible Assets [Roll Forward]        
Beginning Balance $ 422,000 $ 827,000    
Acquisitions during the period 0 0    
Amortization during the period (95,000) (113,000)    
Write-offs during the period 0      
Ending Balance 327,000 714,000    
Gross carrying amount     2,481,000 2,480,000
Accumulated amortization     (2,154,000) (1,766,000)
Accumulated impairment     0 0
Total anticipated intangible amortization $ 327,000 $ 714,000 327,000 714,000
Noncompete Agreements [Member] | Maximum        
Finite-lived Intangible Assets [Roll Forward]        
Useful life (in years) 5 years 5 years    
Noncompete Agreements [Member] | Minimum        
Finite-lived Intangible Assets [Roll Forward]        
Useful life (in years) 3 years 3 years    
Customer Relationships [Member]        
Finite-lived Intangible Assets [Roll Forward]        
Beginning Balance $ 24,333,000 $ 33,207,000    
Acquisitions during the period 0 0    
Amortization during the period (1,486,000) (2,115,000)    
Write-offs during the period 0      
Ending Balance 22,847,000 31,092,000    
Gross carrying amount     82,088,000 82,088,000
Accumulated amortization     (48,993,000) (40,748,000)
Accumulated impairment     (10,248,000) (10,248,000)
Total anticipated intangible amortization $ 22,847,000 $ 31,092,000 22,847,000 31,092,000
Customer Relationships [Member] | Maximum        
Finite-lived Intangible Assets [Roll Forward]        
Useful life (in years) 30 years 30 years    
Customer Relationships [Member] | Minimum        
Finite-lived Intangible Assets [Roll Forward]        
Useful life (in years) 10 years 10 years    
Other Intangible Assets [Member]        
Finite-lived Intangible Assets [Roll Forward]        
Beginning Balance $ 6,036,000 $ 6,817,000    
Acquisitions during the period 5,000 17,000    
Amortization during the period (160,000) (184,000)    
Write-offs during the period (24,000)      
Ending Balance 5,857,000 6,650,000    
Gross carrying amount     10,123,000 10,719,000
Accumulated amortization     (4,047,000) (3,410,000)
Accumulated impairment     (219,000) (659,000)
Total anticipated intangible amortization $ 5,857,000 $ 6,650,000 $ 5,857,000 $ 6,650,000
Other Intangible Assets [Member] | Maximum        
Finite-lived Intangible Assets [Roll Forward]        
Useful life (in years) 20 years 20 years    
Other Intangible Assets [Member] | Minimum        
Finite-lived Intangible Assets [Roll Forward]        
Useful life (in years) 3 years 3 years    
v3.20.4
GOODWILL AND INTANGIBLE ASSETS - Schedule of Future Amortization (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Sep. 30, 2020
Dec. 31, 2019
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]        
Remaining in 2021 $ 6,532      
2022 6,420      
2023 5,102      
2024 4,384      
2025 3,826      
2026 3,252      
Thereafter 10,144      
Total anticipated intangible amortization $ 39,660 $ 41,692 $ 50,151 $ 52,810
v3.20.4
OPERATING LEASE RIGHT OF USE ASSETS AND LIABILITIES - Narrative (Details)
$ in Thousands
Dec. 31, 2020
USD ($)
Leases [Abstract]  
Operating lease, right-of-use asset $ 25,200
Operating lease, liability $ 26,705
v3.20.4
OPERATING LEASE RIGHT OF USE ASSETS AND LIABILITIES - Lease Maturity (Details)
$ in Thousands
Dec. 31, 2020
USD ($)
Leases [Abstract]  
Remaining in 2021 $ 2,880
2022 3,580
2023 2,899
2024 2,908
2025 2,755
Thereafter 15,765
Total undiscounted future minimum lease payments 30,787
Discount (4,082)
Total operating lease liabilities $ 26,705
v3.20.4
OPERATING LEASE RIGHT OF USE ASSETS AND LIABILITIES - Lease Cost (Details)
$ in Thousands
 3 Months Ended
Dec. 31, 2020
USD ($)
Leases [Abstract]  
Weighted-average discount rate 2.34%
Weighted-average remaining lease term (in years) 11 years 2 months 23 days
Lease expense $ 954
Short-term and variable lease cost 63
ROU asset impairment 224
Sublease income (108)
Total lease cost for operating leases $ 1,133
v3.20.4
STOCKHOLDERS' EQUITY (Details) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Nov. 20, 2019
Equity, Class of Treasury Stock [Line Items]      
Stock repurchased during the period (in shares) 79,101 82,971  
Stock repurchased during the period, value $ 1.8 $ 2.7  
    Common Stock      
Equity, Class of Treasury Stock [Line Items]      
Shares authorized to be repurchased (in shares)     7,500,000
Stock repurchased under repurchase program (in shares) 1,943,575 899,371  
Remaining number of shares authorized to be repurchased (in shares) 2,285,157    
v3.20.4
STOCK COMPENSATION (Details)
$ / shares in Units, $ in Millions
 3 Months Ended
Dec. 31, 2020
USD ($)
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Options exercisable (in shares) 0
Weighted Average Fair Value at Grant  
Stock based compensation expense not yet recognized in income | $ $ 9.4
Weighted average remaining period for unrecognized stock based compensation (in years) 2 years 3 months 3 days
Restricted Shares  
Number of Shares  
Nonvested shares outstanding, beginning of period (in shares) 790,083
Granted (in shares) 136,087
Vested (in shares) (237,413)
Forfeited or expired (in shares) (91,060)
Nonvested shares outstanding, end of period (in shares) 597,697
Weighted Average Fair Value at Grant  
Nonvested shares outstanding, beginning of period (in dollars per share) | $ / shares $ 30.03
Granted (in dollars per share) | $ / shares 26.22
Vested (in dollars per share) | $ / shares 28.86
Forfeited or expired (in dollars per share) | $ / shares 29.74
Nonvested shares outstanding, end of period (in dollars per share) | $ / shares $ 29.67
Performance share units  
Number of Shares  
Nonvested shares outstanding, beginning of period (in shares) 0
Granted (in shares) 60,984
Vested (in shares) 0
Forfeited or expired (in shares) 0
Nonvested shares outstanding, end of period (in shares) 60,984
Weighted Average Fair Value at Grant  
Nonvested shares outstanding, beginning of period (in dollars per share) | $ / shares $ 0
Granted (in dollars per share) | $ / shares 34.03
Vested (in dollars per share) | $ / shares 0
Forfeited or expired (in dollars per share) | $ / shares 0
Nonvested shares outstanding, end of period (in dollars per share) | $ / shares $ 34.03
v3.20.4
INCOME TAXES - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Income Tax Disclosure [Abstract]    
Income tax expense (benefit) $ 3,533 $ 680
Effective tax rate 10.77% 2.97%
v3.20.4
INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Income Tax Disclosure [Abstract]    
Provision at statutory rate $ 6,630 $ 4,567
Tax-exempt income (249) (294)
State income taxes 1,488 1,090
Interim period effective rate adjustment 5,467 860
Tax credit investments, net - federal (10,123) (4,800)
Research tax credit (323) (1,709)
IRC 162(m) nondeductible compensation 334 838
Other, net 309 128
Income tax expense (benefit) $ 3,533 $ 680
Effective tax rate 10.77% 2.97%
v3.20.4
COMMITMENTS AND CONTINGENCIES (Details)
Feb. 09, 2018
USD ($)
Dec. 31, 2020
USD ($)
commitment
Sep. 30, 2020
USD ($)
commitment
Oct. 14, 2016
USD ($)
Loss Contingencies [Line Items]        
Unfunded loan commitments   $ 1,350,000,000 $ 1,220,000,000  
Number of investment commitments | commitment   0 0  
Securities, buy (sell) obligations   $ 0 $ 0  
Card Limited, LLC v. MetaBank dba Meta Payment Systems        
Loss Contingencies [Line Items]        
Estimate of possible loss       $ 4,000,000.0
AFS/IBEX, A Division of MetaBank V. Aegis Managing Agency Limited        
Loss Contingencies [Line Items]        
Damages sought amount $ 1,600,000      
v3.20.4
REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) - USD ($)
Dec. 31, 2020
Sep. 30, 2020
Refund transfer product fees    
Disaggregation of Revenue [Line Items]    
Accounts receivable, before allowance for credit loss, current $ 0 $ 0
v3.20.4
REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Revenue by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Disaggregation of Revenue [Line Items]    
Net interest income $ 65,999 $ 64,651
Noninterest income 45,455 37,483
Revenue 111,454 102,134
Refund transfer product fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 647 192
Tax advance product fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 1,960 2,276
Payment card and deposit fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 22,564 21,499
Other bank and deposit fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 237 487
Rental income    
Disaggregation of Revenue [Line Items]    
Noninterest income 9,885 12,351
Gain on sale of other    
Disaggregation of Revenue [Line Items]    
Noninterest income 2,847 (2,568)
Other income    
Disaggregation of Revenue [Line Items]    
Noninterest income 7,315 3,246
Consumer    
Disaggregation of Revenue [Line Items]    
Net interest income 22,347 16,557
Noninterest income 25,335 24,764
Revenue 47,682 41,321
Consumer | Refund transfer product fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 647 192
Consumer | Tax advance product fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 1,960 2,276
Consumer | Payment card and deposit fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 22,564 21,499
Consumer | Other bank and deposit fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Consumer | Rental income    
Disaggregation of Revenue [Line Items]    
Noninterest income 5 4
Consumer | Gain on sale of other    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 240
Consumer | Other income    
Disaggregation of Revenue [Line Items]    
Noninterest income 159 553
Commercial    
Disaggregation of Revenue [Line Items]    
Net interest income 41,848 39,736
Noninterest income 15,166 14,980
Revenue 57,014 54,716
Commercial | Refund transfer product fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Commercial | Tax advance product fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Commercial | Payment card and deposit fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Commercial | Other bank and deposit fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 234 278
Commercial | Rental income    
Disaggregation of Revenue [Line Items]    
Noninterest income 9,880 11,034
Commercial | Gain on sale of other    
Disaggregation of Revenue [Line Items]    
Noninterest income 2,591 2,339
Commercial | Other income    
Disaggregation of Revenue [Line Items]    
Noninterest income 2,461 1,329
Corporate Services/Other    
Disaggregation of Revenue [Line Items]    
Net interest income 1,804 8,358
Noninterest income 4,954 (2,261)
Revenue 6,758 6,097
Corporate Services/Other | Refund transfer product fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Corporate Services/Other | Tax advance product fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Corporate Services/Other | Payment card and deposit fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 0
Corporate Services/Other | Other bank and deposit fees    
Disaggregation of Revenue [Line Items]    
Noninterest income 3 209
Corporate Services/Other | Rental income    
Disaggregation of Revenue [Line Items]    
Noninterest income 0 1,313
Corporate Services/Other | Gain on sale of other    
Disaggregation of Revenue [Line Items]    
Noninterest income 256 (5,147)
Corporate Services/Other | Other income    
Disaggregation of Revenue [Line Items]    
Noninterest income $ 4,695 $ 1,364
v3.20.4
SEGMENT REPORTING (Details)
$ in Thousands
 3 Months Ended
Dec. 31, 2020
USD ($)
segment
Dec. 31, 2019
USD ($)
Sep. 30, 2020
USD ($)
Segment Reporting Information [Line Items]      
Number of reportable segments | segment 3    
Segment data [Abstract]      
Net interest income $ 65,999 $ 64,651  
Provision for credit losses 6,089 3,407  
Noninterest income 45,455 37,483  
Noninterest expense 72,575 75,798  
Income (loss) before income tax expense (benefit) 32,790 22,929  
Total assets 7,264,515 6,180,926 $ 6,092,074
Total goodwill 309,505 309,505 $ 309,505
Total deposits 6,207,791 4,806,580  
Consumer      
Segment data [Abstract]      
Net interest income 22,347 16,557  
Provision for credit losses 2,366 974  
Noninterest income 25,335 24,764  
Noninterest expense 18,162 16,741  
Income (loss) before income tax expense (benefit) 27,154 23,606  
Total assets 430,067 447,963  
Total goodwill 87,145 87,145  
Total deposits 5,884,638 2,999,184  
Commercial      
Segment data [Abstract]      
Net interest income 41,848 39,736  
Provision for credit losses 6,467 3,701  
Noninterest income 15,166 14,980  
Noninterest expense 27,168 26,726  
Income (loss) before income tax expense (benefit) 23,379 24,289  
Total assets 2,917,142 2,494,253  
Total goodwill 222,360 222,360  
Total deposits 13,230 13,855  
Corporate Services/Other      
Segment data [Abstract]      
Net interest income 1,804 8,358  
Provision for credit losses (2,744) (1,268)  
Noninterest income 4,954 (2,261)  
Noninterest expense 27,245 32,331  
Income (loss) before income tax expense (benefit) (17,743) (24,966)  
Total assets 3,917,306 3,238,710  
Total goodwill 0 0  
Total deposits $ 309,923 $ 1,793,541  
v3.20.4
FAIR VALUE OF FINANCIAL INSTRUMENTS - Assets Measured at Fair Value on Recurring and Non-recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Sep. 30, 2020
Available-for-sale debt securities [Abstract]    
Mortgage-backed securities $ 430,761 $ 453,607
Fair Value 1,228,124 1,268,102
Level 1    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 0 0
Available-for-sale debt securities [Abstract]    
Fair Value 0 0
Common equities and mutual funds 3,148 2,969
Level 2    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 0 0
Available-for-sale debt securities [Abstract]    
Fair Value 1,228,124 1,268,102
Common equities and mutual funds 0 0
Level 3    
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value 3,426,720 3,307,037
Available-for-sale debt securities [Abstract]    
Fair Value 0 0
Common equities and mutual funds 0 0
Recurring    
Available-for-sale debt securities [Abstract]    
Small business administration securities 162,009 164,955
Obligations of states and political subdivisions 2,840 841
Non-bank qualified obligations of states and political subdivisions 309,638 323,774
Asset-baked securities 322,876 324,925
Mortgage-backed securities 430,761 453,607
Fair Value 1,228,124 1,268,102
Common equities and mutual funds 3,148 2,969
Non-marketable equity securities 3,896 2,784
Recurring | Level 1    
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
Fair Value 0 0
Common equities and mutual funds 3,148 2,969
Non-marketable equity securities 0 0
Recurring | Level 2    
Available-for-sale debt securities [Abstract]    
Small business administration securities 162,009 164,955
Obligations of states and political subdivisions 2,840 841
Non-bank qualified obligations of states and political subdivisions 309,638 323,774
Asset-baked securities 322,876 324,925
Mortgage-backed securities 430,761 453,607
Fair Value 1,228,124 1,268,102
Common equities and mutual funds 0 0
Non-marketable equity securities 0 0
Recurring | Level 3    
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
Fair Value 0 0
Common equities and mutual funds 0 0
Non-marketable equity securities $ 0 $ 0
v3.20.4
FAIR VALUE OF FINANCIAL INSTRUMENTS - Quantitative Information (Details)
$ in Thousands
 3 Months Ended
Dec. 31, 2020
USD ($)
Sep. 30, 2020
USD ($)
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Foreclosed assets, net $ 7,186 $ 9,957
Minimum    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Range of estimated selling cost (percentage) 4.00%  
Maximum    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Range of estimated selling cost (percentage) 90.00%  
Valuation, Market Approach | Minimum | Discount Rate    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Measurement input 0.04  
Valuation, Market Approach | Maximum | Discount Rate    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Measurement input 0.90  
Level 1    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value $ 0 0
Level 2    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 3,426,720 3,307,037
Total impaired loans and leases, net | Level 3 | Valuation, Market Approach    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value $ 13,109 9,260
Total impaired loans and leases, net | Level 3 | Valuation, Market Approach | Minimum    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Range of estimated selling cost (percentage) 4.00%  
Total impaired loans and leases, net | Level 3 | Valuation, Market Approach | Maximum    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Range of estimated selling cost (percentage) 90.00%  
Foreclosed assets, net | Level 3 | Valuation, Market Approach    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value $ 7,186 9,957
Foreclosed assets, net | Level 3 | Valuation, Market Approach | Minimum    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Range of estimated selling cost (percentage) 4.00%  
Foreclosed assets, net | Level 3 | Valuation, Market Approach | Maximum    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Range of estimated selling cost (percentage) 30.00%  
Nonrecurring    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value $ 20,295 19,217
Nonrecurring | Level 1    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Level 2    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 20,295 19,217
Nonrecurring | Commercial finance    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 4,080 9,240
Nonrecurring | Commercial finance | Level 1    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Commercial finance | Level 2    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Commercial finance | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 4,080 9,240
Nonrecurring | National Lending    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 4,080 9,240
Nonrecurring | National Lending | Level 1    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | National Lending | Level 2    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | National Lending | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 4,080 9,240
Nonrecurring | Commercial real estate and operating    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 9,029 20
Nonrecurring | Commercial real estate and operating | Level 1    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Commercial real estate and operating | Level 2    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Commercial real estate and operating | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 9,029 20
Nonrecurring | Community Banking    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 9,029 20
Nonrecurring | Community Banking | Level 1    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Community Banking | Level 2    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Community Banking | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 9,029 20
Nonrecurring | Total impaired loans and leases, net    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 13,109 9,260
Nonrecurring | Total impaired loans and leases, net | Level 1    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Total impaired loans and leases, net | Level 2    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 0 0
Nonrecurring | Total impaired loans and leases, net | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Fair value 13,109 9,260
Nonrecurring | Foreclosed assets, net    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Foreclosed assets, net 7,186 9,957
Nonrecurring | Foreclosed assets, net | Level 1    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Foreclosed assets, net 0 0
Nonrecurring | Foreclosed assets, net | Level 2    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Foreclosed assets, net 0 0
Nonrecurring | Foreclosed assets, net | Level 3    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Foreclosed assets, net $ 7,186 $ 9,957
v3.20.4
FAIR VALUE OF FINANCIAL INSTRUMENTS - Balance Sheet Grouping (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Sep. 30, 2020
Financial assets    
Debt securities available for sale $ 1,228,124 $ 1,268,102
Fair Value 82,927 93,745
Level 1    
Financial assets    
Cash and cash equivalents 1,586,451 427,367
Debt securities available for sale 0 0
Fair Value 0 0
Common equities and mutual funds 3,148 2,969
Non-marketable equity securities 0 0
Loans held for sale 0 0
Loans and leases receivable 0 0
Federal Reserve Bank and Federal Home Loan Bank stocks 0  
Federal Reserve Bank and Federal Home Loan Bank stocks   0
Accrued interest receivable 17,133 16,628
Financial liabilities    
Deposits 6,040,903 4,705,028
Overnight federal funds purchased   0
Federal Home Loan Bank advances   0
Other short- and long-term borrowings 0 0
Accrued interest payable 2,068 1,923
Level 2    
Financial assets    
Cash and cash equivalents 0 0
Debt securities available for sale 1,228,124 1,268,102
Fair Value 82,927 93,745
Common equities and mutual funds 0 0
Non-marketable equity securities 13,750 12,000
Loans held for sale 133,659 183,577
Loans and leases receivable 0 0
Federal Reserve Bank and Federal Home Loan Bank stocks 27,138  
Federal Reserve Bank and Federal Home Loan Bank stocks   27,138
Accrued interest receivable 0 0
Financial liabilities    
Deposits 167,265 275,045
Overnight federal funds purchased   0
Federal Home Loan Bank advances   0
Other short- and long-term borrowings 98,873 100,185
Accrued interest payable 0 0
Level 3    
Financial assets    
Cash and cash equivalents 0 0
Debt securities available for sale 0 0
Fair Value 0 0
Common equities and mutual funds 0 0
Non-marketable equity securities 0 0
Loans held for sale 0 0
Loans and leases receivable 3,426,720 3,307,037
Federal Reserve Bank and Federal Home Loan Bank stocks 0  
Federal Reserve Bank and Federal Home Loan Bank stocks   0
Accrued interest receivable 0 0
Financial liabilities    
Deposits 0 0
Overnight federal funds purchased   0
Federal Home Loan Bank advances   0
Other short- and long-term borrowings 0 0
Accrued interest payable 0 0
Carrying Amount    
Financial assets    
Cash and cash equivalents 1,586,451 427,367
Debt securities available for sale 1,228,124 1,268,102
Fair Value 81,328 92,610
Common equities and mutual funds 3,148 2,969
Non-marketable equity securities 17,646 14,784
Loans held for sale 133,659 183,577
Loans and leases receivable 3,439,564 3,314,140
Federal Reserve Bank and Federal Home Loan Bank stocks 27,138  
Federal Reserve Bank and Federal Home Loan Bank stocks   27,138
Accrued interest receivable 17,133 16,628
Financial liabilities    
Deposits 6,207,791 4,979,200
Overnight federal funds purchased   0
Federal Home Loan Bank advances   0
Other short- and long-term borrowings 96,760 98,224
Accrued interest payable 2,068 1,923
Estimated Fair Value    
Financial assets    
Cash and cash equivalents 1,586,451 427,367
Debt securities available for sale 1,228,124 1,268,102
Fair Value 82,927 93,745
Common equities and mutual funds 3,148 2,969
Non-marketable equity securities 17,646 14,784
Loans held for sale 133,659 183,577
Loans and leases receivable 3,426,720 3,307,037
Federal Reserve Bank and Federal Home Loan Bank stocks 27,138  
Federal Reserve Bank and Federal Home Loan Bank stocks   27,138
Accrued interest receivable 17,133 16,628
Financial liabilities    
Deposits 6,208,167 4,980,073
Overnight federal funds purchased   0
Federal Home Loan Bank advances   0
Other short- and long-term borrowings 98,873 100,185
Accrued interest payable $ 2,068 $ 1,923
v3.20.4
SUBSEQUENT EVENTS (Details) - Subsequent Event - USD ($)
$ in Millions
Jan. 13, 2021
Jan. 04, 2021
COVID-19 Pandemic    
Subsequent Event [Line Items]    
Active loans   $ 7,100.0
Community Bank    
Subsequent Event [Line Items]    
Discontinued operations disposal group assets sold $ 103.2