Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended |
Dec. 31, 2014 | |
Document And Entity Information [Abstract] | |
Document Type | S-1/A |
Amendment Flag | FALSE |
Document Period End Date | 31-Dec-14 |
Trading Symbol | GWB |
Entity Registrant Name | Great Western Bancorp, Inc. |
Entity Central Index Key | 1613665 |
Entity Filer Category | Non-accelerated Filer |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Assets | |||
Cash and due from banks | $428,186 | $256,639 | $282,157 |
Securities | 1,263,983 | 1,341,242 | 1,480,449 |
Investment in affiliates | 1,683 | 1,683 | 1,683 |
Total financing receivables, net | 6,934,945 | 6,739,949 | 6,306,809 |
Premises and equipment | 102,462 | 103,707 | 114,380 |
Accrued interest receivable | 38,201 | 42,609 | 41,065 |
Other repossessed property | 43,442 | 49,580 | 57,422 |
FDIC indemnification asset | 22,162 | 26,678 | 45,690 |
Goodwill | 697,807 | 697,807 | 697,807 |
Core deposits and other intangibles | 11,916 | 14,229 | 30,444 |
Net deferred tax assets | 44,759 | 44,703 | 32,626 |
Other assets | 51,715 | 52,603 | 43,726 |
Total assets | 9,641,261 | 9,371,429 | 9,134,258 |
Deposits: | |||
Noninterest-bearing | 1,381,887 | 1,303,015 | 1,199,427 |
Interest-bearing | 5,857,319 | 5,749,165 | 5,748,781 |
Total deposits | 7,239,206 | 7,052,180 | 6,948,208 |
Securities sold under agreements to repurchase | 190,585 | 161,687 | 217,562 |
FHLB advances and other borrowings | 575,085 | 575,094 | 390,607 |
Related party notes payable | 41,295 | 41,295 | 41,295 |
Subordinated debentures | 56,083 | 56,083 | 56,083 |
Fair value of derivatives | 32,409 | 13,092 | 1,526 |
Accrued interest payable | 4,812 | 5,273 | 6,790 |
Income tax payable | 12,563 | 4,915 | 12,390 |
Accrued expenses and other liabilities | 37,853 | 40,720 | 42,583 |
Total liabilities | 8,189,891 | 7,950,339 | 7,717,044 |
Stockholders' equity | |||
Common stock | 579 | 579 | 579 |
Additional paid-in capital | 1,260,592 | 1,260,124 | 1,260,124 |
Retained earnings | 193,241 | 166,544 | 163,592 |
Accumulated other comprehensive income (loss) | -3,042 | -6,157 | -7,081 |
Total stockholders' equity | 1,451,370 | 1,421,090 | 1,417,214 |
Total liabilities and stockholders' equity | $9,641,261 | $9,371,429 | $9,134,258 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | |||
Statement of Financial Position [Abstract] | |||
Allowance for loan losses | $51,820 | $47,518 | $55,864 |
Loans covered by FDIC loss share agreements | 195,545 | 234,036 | 347,408 |
Loans and written loan commitments at fair value under the fair value option | 1,023,281 | 985,411 | 841,862 |
Loan held for sale | 9,387 | 10,381 | 8,271 |
Property covered under FDIC loss share agreements | $10,602 | $10,628 | $24,412 |
Common stock, par value | $0.01 | $0.01 | $0.01 |
Common stock, shares authorized | 500,000,000 | 500,000,000 | 500,000,000 |
Common stock, shares issued | 57,886,114 | 57,886,114 | 57,886,114 |
Common stock, shares outstanding | 57,886,114 | 57,886,114 | 57,886,114 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest and Fee Income, Loans and Leases [Abstract] | |||||
Loans | $84,344 | $81,403 | $324,610 | $319,710 | $305,020 |
Taxable securities | 5,687 | 6,969 | 26,363 | 28,552 | 32,581 |
Nontaxable securities | 13 | 14 | 80 | 127 | 180 |
Dividends on securities | 250 | 201 | 968 | 909 | 1,030 |
Federal funds sold and other | 284 | 184 | 455 | 336 | 331 |
Total interest and dividend income | 90,578 | 88,771 | 352,476 | 349,634 | 339,142 |
Interest expense | |||||
Deposits | 6,015 | 6,879 | 25,764 | 33,117 | 44,416 |
Securities sold under agreements to repurchase | 146 | 146 | 600 | 644 | 1,014 |
FHLB advances and other borrowings | 946 | 1,037 | 3,452 | 3,103 | 3,098 |
Related party notes payable | 232 | 234 | 921 | 950 | 1,007 |
Subordinated debentures and other | 330 | 334 | 1,315 | 1,347 | 1,436 |
Total interest expense | 7,669 | 8,630 | 32,052 | 39,161 | 50,971 |
Net interest income | 82,909 | 80,141 | 320,424 | 310,473 | 288,171 |
Provision for loan losses | 3,319 | -875 | 684 | 11,574 | 30,145 |
Net interest income after provision for loan losses | 79,590 | 81,016 | 319,740 | 298,899 | 258,026 |
Noninterest income | |||||
Service charges and other fees | 10,398 | 10,662 | 40,204 | 41,692 | 38,937 |
Net gain on sale of loans | 1,544 | 1,616 | 5,539 | 13,724 | 11,794 |
Casualty insurance commissions | 316 | 258 | 1,073 | 1,426 | 1,383 |
Investment center income | 573 | 591 | 2,417 | 3,137 | 1,847 |
Net gain on sale of securities | 51 | 0 | 90 | 917 | 7,305 |
Trust department income | 1,068 | 905 | 3,738 | 3,545 | 3,241 |
Net increase (decrease) in fair value of loans at fair value | 17,100 | -9,110 | 11,904 | -41,160 | 15,093 |
Net realized and unrealized gain (loss) on derivatives | -24,605 | 4,837 | -30,177 | 26,088 | -29,300 |
Gain on acquisition of business | 0 | 0 | 3,950 | ||
Other | 1,455 | 1,067 | 4,993 | 10,463 | 13,696 |
Total noninterest income | 7,900 | 10,826 | 39,781 | 59,832 | 67,946 |
Noninterest expense | |||||
Salaries and employee benefits | 24,088 | 24,021 | 95,105 | 100,660 | 97,689 |
Occupancy expenses, net | 4,024 | 4,233 | 17,526 | 18,532 | 17,366 |
Data processing | 4,828 | 5,028 | 19,548 | 18,980 | 15,270 |
Equipment expenses | 956 | 1,027 | 4,350 | 4,518 | 5,438 |
Advertising | 728 | 1,084 | 4,746 | 6,267 | 8,169 |
Communication expenses | 1,173 | 1,114 | 4,510 | 4,609 | 4,826 |
Professional fees | 3,572 | 2,898 | 12,233 | 12,547 | 13,049 |
Net (gain) loss from sale of repossessed property and other assets | -368 | -571 | -2,451 | -2,788 | -6,822 |
Amortization of core deposits and other intangibles | 2,313 | 4,688 | 16,215 | 19,290 | 19,646 |
Other | 5,777 | 4,777 | 28,440 | 25,975 | 34,188 |
Total noninterest expense | 47,091 | 48,299 | 200,222 | 208,590 | 208,819 |
Income before income taxes | 40,399 | 43,543 | 159,299 | 150,141 | 117,153 |
Provision for income taxes | 13,702 | 14,939 | 54,347 | 53,898 | 44,158 |
Net income | 26,697 | 28,604 | 104,952 | 96,243 | 72,995 |
Other comprehensive income (loss)-change in net unrealized gain (loss) on securities available-for-sale | 3,115 | -6,454 | 924 | -26,192 | 2,569 |
Comprehensive income | 29,812 | 22,150 | 105,876 | 70,051 | 75,564 |
Earnings per common share | |||||
Weighted average common shares outstanding | 57,895,783 | 57,886,114 | 57,886,114 | 57,886,114 | 57,886,114 |
Basic earnings per share (in dollars per share) | $0.46 | $0.49 | $1.81 | $1.66 | $1.26 |
Diluted earnings per common share | |||||
Weighted average shares outstanding (in shares) | 57,895,783 | 57,886,114 | |||
Earnings per share (in dollars per share) | $0.46 | $0.49 | |||
Dividends per share | |||||
Dividends issued | $0 | $34,000 | $102,000 | $41,400 | $41,800 |
Dividends per share (in dollars per share) | $0 | $0.59 | $1.76 | $0.72 | $0.72 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement [Abstract] | |||||
Deferred income tax (expense) benefit | ($1,909) | $3,955 | ($386) | $15,376 | ($1,502) |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Comprehensive Income | Common Stock Par Value | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) |
In Thousands, unless otherwise specified | ||||||
Beginning balance at Sep. 30, 2011 | $1,354,799 | $579 | $1,260,124 | $77,554 | $16,542 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 72,995 | 72,995 | 72,995 | |||
Other comprehensive income, net of tax: | ||||||
Net change in net unrealized gain (loss) on securities available for sale | 2,569 | 2,569 | 2,569 | |||
Comprehensive income | 75,564 | 75,564 | ||||
Cash dividends paid on common stock | -41,800 | -41,800 | ||||
Ending balance at Sep. 30, 2012 | 1,388,563 | 579 | 1,260,124 | 108,749 | 19,111 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 96,243 | 96,243 | 96,243 | |||
Other comprehensive income, net of tax: | ||||||
Net change in net unrealized gain (loss) on securities available for sale | -26,192 | -26,192 | -26,192 | |||
Comprehensive income | 70,051 | 70,051 | ||||
Cash dividends paid on common stock | -41,400 | -41,400 | ||||
Ending balance at Sep. 30, 2013 | 1,417,214 | 579 | 1,260,124 | 163,592 | -7,081 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 28,604 | 28,604 | 28,604 | |||
Other comprehensive income, net of tax: | ||||||
Net change in net unrealized gain (loss) on securities available for sale | -6,454 | -6,454 | -6,454 | |||
Comprehensive income | 22,150 | 22,150 | ||||
Cash dividends paid on common stock | -34,000 | -34,000 | ||||
Ending balance at Dec. 31, 2013 | 1,405,364 | 579 | 1,260,124 | 158,196 | -13,535 | |
Beginning balance at Sep. 30, 2013 | 1,417,214 | 579 | 1,260,124 | 163,592 | -7,081 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 104,952 | 104,952 | 104,952 | |||
Other comprehensive income, net of tax: | ||||||
Net change in net unrealized gain (loss) on securities available for sale | 924 | 924 | 924 | |||
Comprehensive income | 105,876 | 105,876 | ||||
Cash dividends paid on common stock | -102,000 | -102,000 | ||||
Ending balance at Sep. 30, 2014 | 1,421,090 | 579 | 1,260,124 | 166,544 | -6,157 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 26,697 | 26,697 | 26,697 | |||
Other comprehensive income, net of tax: | ||||||
Net change in net unrealized gain (loss) on securities available for sale | 3,115 | 3,115 | 3,115 | |||
Comprehensive income | 29,812 | 29,812 | ||||
Stock-based compensation | 468 | 468 | ||||
Cash dividends paid on common stock | 0 | |||||
Ending balance at Dec. 31, 2014 | $1,451,370 | $579 | $1,260,592 | $193,241 | ($3,042) |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity (Parenthetical) (USD $) | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Statement of Stockholders' Equity [Abstract] | |||||
Cash dividends paid on common stock (in USD per share) | $0 | $0.59 | $1.76 | $0.72 | $0.72 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities | |||||
Net income | $26,697 | $28,604 | $104,952 | $96,243 | $72,995 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||
Depreciation and amortization | 6,258 | 9,861 | 34,770 | 43,764 | 47,333 |
Net gain on sale of securities | -51 | 0 | -90 | -917 | -7,305 |
Net gain on sale of loans | -1,544 | -1,616 | -5,539 | -13,724 | -11,794 |
Net (gain) loss on sale of premises and equipment | -7 | 292 | 3,280 | 632 | 0 |
Net (gain) loss from sale of repossessed property and other assets | -368 | -571 | -2,451 | -2,788 | -6,822 |
Gain on acquisition of business | 0 | 0 | -3,950 | ||
Provision for loan losses | 3,319 | -875 | 684 | 11,574 | 30,145 |
Provision for repossessed assets | 2,110 | 534 | 9,688 | 4,028 | 13,820 |
Proceeds from FDIC indemnification claims | 1,635 | 633 | 8,914 | 5,284 | 57,090 |
Stock-based compensation | 468 | 0 | |||
Originations of residential real estate loans held-for-sale | -63,298 | -54,667 | -216,361 | -429,009 | -420,491 |
Proceeds from sales of residential real estate loans held-for-sale | 65,836 | 55,810 | 219,790 | 463,730 | 428,797 |
Net deferred income taxes | -1,964 | -3,697 | -12,463 | -6,088 | -14,719 |
Changes in: | |||||
Accrued interest receivable | 4,408 | 3,443 | -1,544 | -329 | -3,326 |
Other assets | 833 | 1,475 | -1,721 | -2,931 | 15,005 |
FDIC indemnification asset | 2,881 | 3,300 | 10,098 | 17,689 | 573 |
FDIC clawback liability | 221 | 143 | 1,153 | 1,202 | -1,284 |
Accrued interest payable and other liabilities | 23,416 | -7,851 | -441 | -35,519 | 21,653 |
Net cash provided by operating activities | 70,850 | 34,818 | 152,719 | 152,841 | 217,720 |
Investing activities | |||||
Purchase of securities available for sale | -48,539 | 0 | -222,711 | -520,929 | -874,857 |
Proceeds from sales and maturities of securities available for sale | 129,116 | 84,323 | 354,399 | 567,931 | 858,709 |
Proceeds from sale of mortgage servicing rights | 0 | 0 | 510 | ||
Net increase in loans | -200,677 | -121,735 | -465,217 | -308,696 | -753,714 |
Purchase of premises and equipment | -942 | -442 | -4,978 | -3,318 | -12,451 |
Proceeds from sale of premises and equipment | 6 | 426 | 2,736 | 5,163 | 2,567 |
Proceeds from sale of other assets | 5,765 | 2,801 | 34,107 | 45,877 | 118,834 |
Purchase of FHLB stock | -7,157 | -1,967 | -6,716 | ||
Redemption of FHLB stock | 53 | 2,061 | |||
Business acquisitions, net of cash acquired | 0 | 0 | -23,014 | ||
Net cash used in investing activities | -115,218 | -32,566 | -308,821 | -215,939 | -690,132 |
Financing activities | |||||
Net increase in deposits | 187,026 | 237,430 | 103,972 | 63,693 | 254,100 |
Net increase (decrease) in securities sold under agreements to repurchase | 28,898 | -29,163 | -55,875 | -18,009 | 20,923 |
Net decrease in FHLB advances and other borrowings | -9 | -50,503 | 184,487 | 84,986 | 132,078 |
Net decrease in note payable to NAB | 0 | 0 | -7,000 | ||
Dividends paid | 0 | -34,000 | -102,000 | -41,400 | -41,800 |
Net cash provided by financing activities | 215,915 | 123,764 | 130,584 | 89,270 | 358,301 |
Change in cash and due from banks | 171,547 | 126,016 | -25,518 | 26,172 | -114,111 |
Cash and due from banks, beginning of period | 256,639 | 282,157 | 282,157 | 255,985 | 370,096 |
Cash and due from banks, end of period | 428,186 | 408,173 | 256,639 | 282,157 | 255,985 |
Supplemental disclosures of cash flows information | |||||
Cash payments for interest | 8,129 | 8,919 | 33,570 | 43,832 | 51,502 |
Cash payments for income taxes | 8,758 | 15,681 | 75,695 | 58,599 | 51,249 |
Supplemental schedules of noncash investing and financing activities | |||||
Loans transferred to repossessed assets and other assets | $1,369 | $1,932 | ($33,502) | ($28,980) | ($62,158) |
Nature_of_Operations_and_Summa
Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Accounting Policies [Abstract] | |||||||
Nature of Operations and Summary of Significant Accounting Policies | 1. Nature of Operations and Summary of Significant Accounting Policies | ||||||
Nature of Operations | |||||||
Great Western Bancorp, Inc. (the “Company”) is a bank holding company organized under the laws of Delaware. The primary business of the Company is ownership of its wholly owned subsidiary, Great Western Bank (the “Bank”). The Bank is a full-service regional bank focused on relationship-based business and agri-business banking in Arizona, Colorado, Iowa, Kansas, Missouri, Nebraska, and South Dakota. The Company and the Bank are subject to the regulation of certain federal and/or state agencies and undergo periodic examinations by those regulatory authorities. Substantially all of the Company’s income is generated from banking operations. The Company is a wholly owned indirect subsidiary of National Australia Bank Limited (“NAB”) at September 30, 2014. | |||||||
Segment Reporting | |||||||
The “Segment Reporting” topic of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) requires that public companies report certain information about operating segments. It also requires that public companies report certain information about their products and services, the geographic areas in which they operate, and their major customers. The Company is a holding company for a regional bank, which offers a wide array of products and services to its customers. Pursuant to its banking strategy, emphasis is placed on building relationships with its customers, as opposed to building specific lines of business. As a result, the Company is not organized and does not allocate resources around discernible lines of business or geographies and prefers to work as an integrated unit to customize solutions for its customers, with business line and geographic emphasis and product offerings changing over time as needs and demands change. Therefore, the Company only reports one segment, which is consistent with the Company’s preparation of financial information that is evaluated regularly by management in deciding how to allocate resources and assess performance. | |||||||
Principles of Consolidation | |||||||
The accompanying consolidated financial statements include the accounts and results of the Company and its subsidiaries after elimination of all significant intercompany accounts and transactions. | |||||||
Basis of Presentation and Use of Estimates | |||||||
The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. | |||||||
Certain items in prior periods have been reclassified to conform to the current presentation. | |||||||
Subsequent Events | |||||||
In July 2014, NAB formed the Company, as a wholly owned direct subsidiary of National Americas Holdings LLC, an indirect wholly owned subsidiary of NAB. In October 2014, a series of formation transactions were undertaken whereby the Company acquired Great Western Bancorporation, Inc. (“GWBI”), the former holding company of the Bank, for its carrying value from National Americas Investment, Inc., a wholly owned direct subsidiary of National Americas Holdings LLC, and GWBI was merged with and into the Company, with the Company continuing as the surviving corporation and succeeding to all of the assets, liabilities and business of GWBI. Prior to the formation transactions, the Company held no assets other than a $100 equity contribution, and the Company had not engaged in any business or other activities other than in connection with its formation and as the registrant for an initial public offering of common stock. Because GWBI and the Company were under common control at the time of the formation transactions, the Company’s acquisition of GWBI was accounted for as a transaction among entities under common control. The accompanying consolidated financial statements give effect retrospectively to the combination of the Company, GWBI and the Bank for all periods presented. | |||||||
In addition, the Company’s certificate of incorporation was amended on October 17, 2014 to give effect to a 578,861.14-for-1 split of its common stock, resulting in 57,886,114 shares of common stock being issued and outstanding. The consolidated financial statements give effect retrospectively to the stock split. | |||||||
On October 20, 2014, the Company completed an initial public offering (“IPO”) of 18,400,000 shares of its 57,886,114 outstanding shares of common stock. All of the shares sold in the offering were shares beneficially owned by NAB. NAB continues to beneficially own 39,486,114 shares of our common stock. NAB received all of the net proceeds of $312.16 million from the sale of the shares of common stock sold in the offering. The 18,400,000 shares sold in the offering are listed on the New York Stock Exchange (“NYSE”) under the symbol GWB. | |||||||
On September 26, 2014, the Board of Directors adopted, and on October 10, 2014 our shareholder, approved the Great Western Bancorp, Inc. 2014 Omnibus Incentive Compensation Plan (the “2014 Plan”), the Great Western Bancorp, Inc. 2014 Non-Employee Director Plan (the “2014 Director Plan”), and the Great Western Bancorp, Inc. Executive Incentive Compensation Plan (the “Bonus Plan”). Upon completion of our IPO, the Company granted a total of 216,724 shares of our common stock underlying performance stock units and 65,834 shares of our common stock underlying restricted stock units to certain of our employees. Additionally, a total of 6,666 shares of our common stock underlying performance stock units and 12,221 shares of our common stock underlying restricted stock units were granted to our independent non-employee directors and a non-employee director of our bank. | |||||||
The Company evaluated subsequent events through the date its consolidated financial statements were issued. Other than those events described above, there were no other material events that would require recognition in the consolidated financial statements or disclosure in the notes to the consolidated financial statements. | |||||||
Business Combinations | |||||||
The Company accounts for business combinations under the acquisition method of accounting in accordance with ASC 805, “Business Combinations” (“ASC 805”). The Company recognizes the fair value of the assets acquired and liabilities assumed, immediately expenses transaction costs and accounts for restructuring plans separately from the business combination. There is no separate recognition of the acquired allowance for loan losses on the acquirer’s balance sheet as credit related factors are incorporated directly into the fair value of the loans recorded at the acquisition date. The excess of the cost of the acquisition over the fair value of the net tangible and intangible assets acquired is recorded as goodwill. Alternatively, a bargain purchase gain is recorded equal to the amount by which the fair value of assets purchased exceeds the fair value of liabilities assumed and consideration paid. | |||||||
Results of operations of the acquired business are included in the consolidated statements of comprehensive income from the effective date of acquisition. | |||||||
Cash and Due From Banks | |||||||
For purposes of the consolidated statements of cash flows, management has defined cash and cash equivalents to include cash on hand, amounts due from banks (including cash items in process of clearing), and amounts held at other financial institutions with an initial maturity of 90 days or less. | |||||||
Securities | |||||||
The Company classifies securities upon purchase in one of three categories: trading, held-to-maturity, or available-for-sale. Debt and equity securities held for resale are classified as trading. Debt securities for which the Company has the ability and positive intent to hold until maturity are classified as held-to-maturity. All other securities are classified as available-for-sale as they may be sold prior to maturity in response to changes in the Company’s interest rate risk profile, funding needs, demand for collateralized deposits by public entities or other reasons. | |||||||
Held-to-maturity securities are stated at amortized cost, which represents actual cost adjusted for premium amortization and discount accretion. Available-for-sale securities are stated at fair value, with unrealized gains and losses, net of related taxes, included in stockholder’s equity as a component of accumulated other comprehensive income (loss). | |||||||
Trading securities are stated at fair value. Realized and unrealized gains and losses from sales and fair value adjustments of trading securities are included in other noninterest income in the consolidated statements of comprehensive income. | |||||||
Purchases and sales of securities are recognized on a trade date basis. The cost of securities sold is based on the specific identification method. | |||||||
Declines in the fair value of investment securities available for sale (with certain exceptions for debt securities noted below) that are deemed to be other-than-temporary are recognized in earnings as a realized loss, and a new cost basis for the securities is established. In evaluating other-than-temporary impairment, management considers the length of time and extent to which the fair value has been less than amortized cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value in the near term. Declines in the fair value of debt securities below amortized cost are deemed to be other-than-temporary in circumstances where: (1) the Company has the intent to sell a security; (2) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis; or (3) the Company does not expect to recover the entire amortized cost basis of the security. If the Company intends to sell a security or if it is more likely than not that the Company will be required to sell the security before recovery, an other-than-temporary impairment loss is recognized in earnings equal to the difference between the security’s amortized cost basis and its fair value. If the Company does not intend to sell the security or it is not more likely than not that it will be required to sell the security before recovery, the other-than-temporary impairment write-down is separated into an amount representing credit loss, which is recognized in earnings, and an amount related to all other factors, which is recognized in other comprehensive income. | |||||||
Interest and dividends, including amortization of premiums and accretion of discounts, are recognized as interest or dividend income when earned. Realized gains and losses on sales (using the specific identification method) and declines in value judged to be other-than-temporary are included in noninterest income in the consolidated statements of comprehensive income (loss). | |||||||
Federal Home Loan Bank Stock | |||||||
Investments in the Federal Home Loan Bank (“FHLB”) stock are restricted as to redemption and are carried at cost. Investments in FHLB stock are reviewed regularly for possible other-than-temporary impairment, and the cost basis of this investment is reduced by any declines in value determined to be other-than-temporary. | |||||||
Loans | |||||||
The Company’s accounting method for loans differs depending on whether the loans were originated or purchased and, for purchased loans, whether the loans were acquired at a discount related to evidence of credit deterioration since date of origination. | |||||||
Originated Loans | |||||||
Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or pay-off, generally are reported at their outstanding principal balance, adjusted for charge-offs, the allowance for loan losses, and any unamortized deferred fees or costs. Other fees, not associated with originating a loan are recognized as fee income when earned. | |||||||
Interest income on loans is accrued daily on the outstanding balances. Accrual of interest is discontinued when management believes, after considering collection efforts and other factors, the borrower’s financial condition is such that collection of interest is doubtful. Generally, when loans are placed on nonaccrual status, interest receivable is reversed against interest income in the current period. Interest payments received thereafter are applied as a reduction to the remaining principal balance as long as concern exists as to the ultimate collection of the principal. Loans are removed from nonaccrual status when they become current as to both principal and interest and concern no longer exists as to the collectability of principal and interest. | |||||||
The Company has elected to measure certain long-term loans and written loan commitments at fair value to assist in managing interest rate risk for longer-term loans. Fair value loans are fixed-rate loans having original maturities of 5 years or greater (typically between 5 and 15 years) to our business and agribusiness banking customers to assist them in facilitating their risk management strategies. The fair value option was elected upon the origination or acquisition of these loans and written loan commitments. Interest income is recognized in the same manner on loans reported at fair value as on non-fair value loans, except in regard to origination fees and costs which are recognized immediately upon closing. The changes in fair value of long-term loans and written loan commitments at fair value are reported in noninterest income. | |||||||
For loans held for sale, loan fees charged or received on origination, net of certain direct loan origination costs, are recognized in income when the related loan is sold. For loans held for investment, loan fees, net of certain direct loan origination costs, are deferred, and the net amount is amortized as an adjustment of the related loan’s yield. The Company is generally amortizing these amounts over the contractual lives of the loans. Commitment fees are recognized as income when received. | |||||||
The Company grants commercial, agricultural, consumer, residential real estate, and other loans to customers primarily in Arizona, Colorado, Iowa, Kansas, Missouri, Nebraska, and South Dakota. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the borrower. Collateral held varies but includes accounts receivable, inventory, property and equipment, residential real estate, and income-producing commercial and agricultural properties. Government guarantees are also obtained for some loans, which reduces the Company’s risk of loss. | |||||||
Loans originated and intended for sale in the secondary market are carried at the lower of cost or fair value. Loans held for sale include fixed rate single-family residential mortgage loans under contract to be sold in the secondary market. In most cases, loans in this category are sold within 45 days. These loans are sold with the mortgage servicing rights released. Under limited circumstances, buyers may have recourse to return a purchased loan to the Company. Recourse conditions may include early payment default, breach of representation or warranties, or documentation deficiencies. | |||||||
Fair value of loans held for sale is determined based on prevailing market prices for loans with similar characteristics, sale contract prices, or, for certain portfolios, discounted cash flow analyses. Declines in fair value below cost (and subsequent recoveries) are recognized in net gain on sale of loans. Deferred fees and costs related to these loans are not amortized but are recognized as part of the cost basis of the loan at the time it is sold. Gains or losses on sales are recognized upon delivery and included in net gain on sale of loans. | |||||||
Purchased Loans | |||||||
Loans acquired (non-impaired and impaired) in a business acquisition are recorded at their fair value at the acquisition date. Credit discounts are included in the determination of fair value; therefore, an allowance for loan losses is not recorded at the acquisition date. | |||||||
In determining the acquisition date fair value of purchased loans with evidence of credit deterioration (“purchased impaired loans”), and in subsequent accounting, the Company generally aggregates impaired purchased consumer and certain smaller balance impaired commercial loans into pools of loans with common risk characteristics, while accounting for larger-balance impaired commercial loans individually. Expected cash flows at the acquisition date in excess of the fair value of loans are recorded as interest income over the life of the loans using a level-yield method. | |||||||
Management estimates the cash flows expected to be collected at acquisition and at subsequent measurement dates using internal risk models, which incorporate the estimate of key assumptions, such as default rates, loss severity, and prepayment speeds. Subsequent to the acquisition date, decreases in cash flows over those expected at the acquisition date are recognized by recording an allowance for loan losses. Subsequent increases in cash flow over those expected at the acquisition date are recognized as reductions to allowance for loan losses to the extent impairment was previously recognized and thereafter as interest income prospectively. | |||||||
For purchased loans not deemed impaired at the acquisition date, the difference between the fair value of the loans and the expected cash flows of the loans at acquisition date is recognized in interest income on a level-yield method over the life of the loans. Credit discounts representing the principal losses expected over the life of the loan are a component of the initial fair value. Subsequent to the purchase date, the methods utilized to estimate the required allowance for loan losses for these loans is similar to originated loans; however, the Company records a provision for loan losses only when the required allowance exceeds any remaining credit discounts. | |||||||
Credit Risk Management | |||||||
The Company’s strategy for credit risk management includes well-defined, centralized credit policies, uniform underwriting criteria and ongoing risk monitoring and review processes for all credit exposures. The strategy also emphasizes diversification on a geographic, industry, and customer level; regular credit examinations; and management reviews of loans exhibiting deterioration of credit quality. The credit risk management strategy also includes a credit risk assessment process that performs assessments of compliance with commercial and consumer credit policies, risk ratings, and other critical credit information. Loan decisions are documented with respect to the borrower’s business, purpose of the loan, evaluation of the repayment source, and the associated risks, evaluation of collateral, covenants and monitoring requirements, and risk rating rationale. | |||||||
The Company categorizes its loan portfolio into six classes, which is the level at which it develops and documents a systematic methodology to determine the allowance for loan losses. | |||||||
The Company’s six loan portfolio classes are residential real estate, commercial real estate, commercial non real estate, agriculture, consumer and other lending. | |||||||
The residential real estate lending class includes loans made to consumer customers including residential mortgages, residential construction loans and home equity loans and lines. These loans are typically fixed rate loans secured by residential real estate. Home equity lines are revolving accounts giving the borrower the ability to draw and repay balances repeatedly, up to a maximum commitment, and are secured by residential real estate. Home equity lines typically have variable rate terms which are benchmarked to a prime rate. Historical loss history is the primary factor in determining the allowance for loan losses for the residential real estate lending class. Key risk characteristics relevant to residential real estate lending class loans primarily relate to the borrower’s capacity and willingness to repay and include unemployment rates and other economic factors, and customer payment history. These risk characteristics, among others, are reflected in the environmental factors considered in determining the allowance for loan losses. | |||||||
The commercial real estate lending class includes loans made to small and middle market businesses, including multifamily properties. Loans in this class are secured by commercial real estate. Historical loss history and updated loan-to-value information on collateral-dependent loans are the primary factors in determining the allowance for loan losses for the commercial real estate lending class. Key risk characteristics relevant to the commercial real estate lending class include the industry and geography of the borrower’s business, purpose of the loan, repayment source, borrower’s debt capacity and financial performance, loan covenants, and nature of pledged collateral. We consider these risk characteristics in assigning risk ratings and estimating environmental factors considered in determining the allowance for loan losses. | |||||||
The commercial non real estate lending class includes loans made to small and middle market businesses, and loans made to public sector customers. Loans in this class are secured by the operations and cash flows of the borrowers, and any guarantors. Historical loss history and updated loan-to-value information on collateral-dependent loans are the primary factors in determining the allowance for loan losses for the commercial non real estate lending class. Key risk characteristics relevant to the commercial non real estate lending class include the industry and geography of the borrower’s business, purpose of the loan, repayment source, borrower’s debt capacity and financial performance, loan covenants, and nature of pledged collateral. We consider these risk characteristics in assigning risk ratings and estimating environmental factors considered in determining the allowance for loan losses. | |||||||
The agriculture lending class includes loans made to small and mid-size agricultural individuals and businesses. Loans in this class are secured by agricultural real estate, production, and cash flows, and any guarantors. Historical loss history and updated loan-to-value information on collateral-dependent loans are the primary factors in determining the allowance for loan losses for the agriculture lending class. Key risk characteristics relevant to the agriculture lending class include the geography of the borrower’s operations, commodity prices and weather patterns, purpose of the loan, repayment source, borrower’s debt capacity and financial performance, loan covenants, and nature of pledged collateral. We consider these risk characteristics in assigning risk ratings and estimating environmental factors considered in determining the allowance for loan losses. | |||||||
The consumer lending class includes loans made to consumer customers including loans secured by automobiles and other installment loans, and the other lending class includes credit card loans and unsecured revolving credit lines. Historical loss history is the primary factor in determining the allowance for loan losses for the consumer and other lending classes. Key risk characteristics relevant to loans in the consumer and other lending classes primarily relate to the borrower’s capacity and willingness to repay and include unemployment rates and other economic factors, and customer payment history. These risk characteristics, among others, are reflected in the environmental factors considered in determining the allowance for loan losses. | |||||||
The Company classifies all non-consumer loans by credit quality ratings. These ratings are Pass, Watch, Substandard, Doubtful, and Loss. Loans with a Pass and Watch rating represent those loans not classified on the Company’s rating scale for problem credits, with loans with a Watch rating being monitored and updated at least quarterly by management. Substandard loans are those where a well-defined weakness has been identified that may put full collection of contractual cash flows at risk. Doubtful loans are those where a well-defined weakness has been identified and a loss of contractual cash flows is known. Substandard and doubtful loans are monitored and updated monthly. All loan risk ratings are updated and monitored on a continuous basis. The Company generally does not risk rate consumer loans unless a default event such as bankruptcy or extended nonperformance takes place. Alternatively, standard credit scoring systems are used to assess credit risks of consumer loans. | |||||||
Allowance for Loan Losses (“ALL”) and Unfunded Commitments | |||||||
The Company maintains an allowance for loan losses at a level management believes is appropriate to reserve for credit losses inherent in our loan portfolio. The allowance for loan losses is determined based on an ongoing evaluation, driven primarily by monitoring changes in loan risk grades, delinquencies, and other credit risk indicators, which is inherently subjective. | |||||||
The Company considers the uncertainty related to certain industry sectors and the extent of credit exposure to specific borrowers within the portfolio. In addition, consideration is given to concentration risks associated with the various loan portfolios and current economic conditions that might impact the portfolio. The Company also considers changes, if any, in underwriting activities, the loan portfolio composition (including product mix and geographic, industry, or customer-specific concentrations), trends in loan performance, the level of allowance coverage relative to similar banking institutions and macroeconomic factors, such as changes in unemployment rates, gross domestic product, and consumer bankruptcy filings. | |||||||
All of these estimates are susceptible to significant change. Changes to the allowance for loan losses are made by charges to the provision for loan losses, which is reflected in the consolidated statements of comprehensive income. Loans deemed to be uncollectible are charged off against the allowance for loan losses. Recoveries of amounts previously charged-off are credited to the allowance for loan losses. | |||||||
The allowance for loan losses consist of reserves for probable losses that have been identified related to specific borrowing relationships that are individually evaluated for impairment (“specific reserve”), as well as probable losses inherent in our loan portfolio that are not specifically identified (“collective reserve”). | |||||||
The specific reserve relates to impaired loans. A loan is impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due (interest as well as principal) according to the contractual terms of the loan agreement. Specific reserves are determined on a loan-by-loan basis based on management’s best estimate of the Company’s exposure, given the current payment status of the loan, the present value of expected payments, and the value of any underlying collateral. Impaired loans also include loans modified in troubled debt restructurings where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in the interest rate on the loan, payment extensions, forgiveness of principal, forbearance, or other actions intended to maximize collection. Generally, the impairment related to troubled debt restructurings is measured based on the fair value of the collateral, less cost to sell, or the present value of expected payments relative to the unpaid principal balance. If the impaired loan is identified as collateral dependent, then the fair value of the collateral method of measuring the amount of the impairment is utilized. This method requires obtaining an independent appraisal of the collateral and applying a discount factor to the appraised value, if necessary, and including costs to sell. | |||||||
Management’s estimate for collective reserves reflects losses incurred in the loan portfolio as of the consolidated balance sheet reporting date. Incurred loss estimates primarily are based on historical loss experience and portfolio mix. Incurred loss estimates may be adjusted to reflect current economic conditions and current portfolio trends including credit quality, concentrations, aging of the portfolio, and/or significant policy and underwriting changes. | |||||||
While management uses the best information available to establish the allowance for loan losses, future adjustments may be necessary if economic conditions differ substantially from the assumptions used in performing the estimates. | |||||||
Unfunded residential mortgage loan commitments entered into in connection with mortgage loans to be held for sale are considered derivatives and recorded at fair value on the consolidated balance sheets with changes in fair value recorded in other interest income. All other unfunded loan commitments are generally related to providing credit facilities to customers and are not considered derivatives. For purchased loans, the fair value of the unfunded credit commitments is considered in determination of the fair value of the loans recorded at the date of acquisition. Reserves for credit exposure on all other unfunded credit commitments are recorded in other liabilities on the consolidated balance sheets. We maintain a reserve for unfunded commitments at a level we believe to be sufficient to absorb estimated probable losses related to unfunded credit facilities. | |||||||
FDIC Indemnification Asset and Clawback Liability | |||||||
In conjunction with a Federal Deposit Insurance Corporation (“FDIC”)-assisted transaction of TierOne Bank in 2010, the Company entered into two loss share agreements with the FDIC, one covering certain single family residential mortgage loans and one covering commercial loans and other assets, with claim periods ending June 2020 and June 2015, respectively. The agreements cover a portion of realized losses on loans, foreclosed real estate and certain other assets. The Company has recorded assets on the consolidated balance sheets (i.e., indemnification assets) representing estimated future amounts recoverable from the FDIC. | |||||||
Fair values of loans covered by the loss sharing agreements at the acquisition date were estimated based on projected cash flows available based on the expected probability of default, default timing and loss given default, the expected reimbursement rates (generally 80%) from the FDIC and other relevant terms of the loss sharing agreements. The initial fair value was established by discounting these expected cash flows with a market discount rate for instruments with like maturity and risk characteristics. | |||||||
The loss share assets are measured separately from the related loans and foreclosed real estate and recorded as an FDIC indemnification asset on the consolidated balance sheets because they are not contractually embedded in the loans and are not transferrable with the loans should the Company choose to dispose of them. Subsequent to the acquisition date, reimbursements received from the FDIC for actual incurred losses reduce the carrying amount of the loss share assets. Reductions to expected losses on covered assets, to the extent such reductions to expected losses are the result of an improvement to the actual or expected cash flows from the covered assets, also reduce the carrying amount of the loss share assets. The rate of accretion of the indemnification asset discount included in interest income slows to mirror the accelerated accretion of the loan discount. Additional expected losses on covered assets, to the extent such expected losses result in the recognition of an allowance for loan losses, increase the carrying amount of the loss share assets. A related increase in the value of the indemnification asset up to the amount covered by the FDIC is calculated based on the reimbursement rates from the FDIC and is included in other noninterest income. The corresponding loan accretion or amortization is recorded as a component of interest income on the consolidated statements of comprehensive income. Although these assets are contractual receivables from the FDIC, there are no contractual interest rates. | |||||||
As part of the loss sharing agreements, the Company also assumed a liability (“FDIC Clawback Liability”) to be paid within 45 days subsequent to the maturity or termination of the loss sharing agreements that is contingent upon actual losses incurred over the life of the agreements relative to expected losses considered in the consideration paid at acquisition date and the amount of losses reimbursed to the Company under the loss sharing agreements. The liability was recorded at fair value as of the acquisition date. The fair value was based on a discounted cash flow calculation that considered the formula defined in the loss sharing agreements and projected losses. The difference between the fair value at acquisition date and the projected losses is amortized through other noninterest expense. As projected losses and reimbursements are updated, as described above, the FDIC Clawback Liability is adjusted and a gain or loss is recorded in other noninterest expense. | |||||||
Premises and Equipment | |||||||
Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed principally by the straight-line method over the estimated useful lives of the assets. Costs incurred for maintenance and repairs are expensed as incurred. The range of estimated useful lives for buildings and building improvements are 10 to 40 years and 3 to 10 years for furniture and equipment. | |||||||
Long-lived Asset Impairment | |||||||
The Company evaluates the recoverability of the carrying value of long-lived assets whenever events or circumstances indicate the carrying amount may not be recoverable. If a long-lived asset is tested for recoverability and the undiscounted estimated future cash flows expected to result from the use and eventual disposition of the asset is less than the carrying amount of the asset, the asset’s carrying value is adjusted to fair value and an impairment loss is recognized as the amount by which the carrying amount of the long-lived asset exceeds its fair value. | |||||||
No long-lived asset impairments were recognized during the years ended September 30, 2014, 2013 or 2012. | |||||||
Bank Owned Life Insurance (“BOLI”) | |||||||
BOLI represents life insurance policies on the lives of certain Company officers or former officers for which the Company is the beneficiary. The carrying amount of bank owned life insurance consists of the initial premium paid plus increases in cash value less the carrying amount associated with any death benefits received, and is recorded in other assets. Death benefits paid in excess of the applicable carrying amount are recognized as income, which is exempt from income taxes. | |||||||
Other Repossessed Property | |||||||
Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management, and the assets are carried at the lower of carrying amount or fair value less cost to sell. Income and expenses from operations of repossessed property are included in other noninterest expense. | |||||||
Goodwill | |||||||
Goodwill represents the cost in excess of the fair value of net assets acquired (including identifiable intangibles) in transactions accounted for as business acquisitions. Goodwill is evaluated annually for impairment. The Company performs its impairment evaluation as of June 30 of each fiscal year. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and goodwill is written down to its implied fair value. Subsequent increases in goodwill are not recognized in the consolidated financial statements. No goodwill impairment was recognized during the years ended September 30, 2014, 2013 or 2012. | |||||||
Core Deposits and Other Intangibles | |||||||
Intangible assets consist of core deposits, brand intangible, customer relationships, and other intangibles. Core deposits represent the identifiable intangible value assigned to core deposit bases arising from purchase acquisitions. Brand intangible represents the value associated with the Bank charter. Customer relationships intangible represents the identifiable intangible value assigned to customer relationships arising from a purchase acquisition. Other intangibles represent contractual franchise arrangements under which the franchiser grants the franchisee the right to perform certain functions within a designated geographical area. | |||||||
The methods and lives used to amortize intangible assets are as follows: | |||||||
Intangible | Method | Years | |||||
Core deposit | Straight-line or effective yield | 4.75 – 6.2 | |||||
Brand intangible | Straight-line | 15 | |||||
Customer relationships | Straight-line | 8.5 | |||||
Other intangibles | Straight-line | 5 | |||||
Intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. No intangible asset impairments were recognized during the years ended September 30, 2014, 2013 or 2012. | |||||||
Derivatives | |||||||
The Company maintains an overall interest rate risk management strategy that permits the use of derivative instruments to modify exposure to interest rate risk. The Company enters into interest rate swap contracts to offset the interest rate risk associated with borrowers who lock in long-term fixed rates (greater than or equal to 5 years to maturity) through a fixed rate loan. These contracts do not qualify for hedge accounting. Generally, under these swaps, the Company agrees with NAB to exchange the difference between fixed-rate and floating-rate interest amounts based upon notional principal amounts. These interest rate derivative instruments are recognized as assets and liabilities on the consolidated balance sheets and measured at fair value, with changes in fair value reported in net realized and unrealized gain (loss) on derivatives. Since each fixed rate loan is paired with an offsetting derivative contract, the impact to net income is minimized. | |||||||
The Company enters into forward interest rate lock commitments on mortgage loans to be held for sale, which are commitments to originate loans whereby the interest rate on the loan is determined prior to funding. The Company also has corresponding forward sales contracts related to these interest rate lock commitments. Both the mortgage loan commitments and the related sales contracts are considered derivatives and are recorded at fair value with changes in fair value recorded in other interest income. | |||||||
Income Taxes | |||||||
The Company files a consolidated income tax return with National Americas Investment, Inc. (a wholly owned indirect subsidiary of NAB). Income taxes are allocated pursuant to a tax-sharing arrangement, whereby the Company will pay federal and state income taxes as if it were filing on a stand-alone basis. Income tax expense includes two components: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over income. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax basis of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. | |||||||
Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. | |||||||
Liabilities related to uncertain tax positions are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. | |||||||
The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management’s judgment. | |||||||
The Company recognizes interest and/or penalties related to income tax matters in other interest and noninterest expense. | |||||||
Transfers of Financial Assets | |||||||
Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company-put presumptively beyond reach of the Company and its creditors, even in bankruptcy or other receivership, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets. | |||||||
Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at amounts at which the securities were financed, plus accrued interest. | |||||||
Revenue Recognition | |||||||
The Company recognizes revenue as it is earned based on contractual terms, as transactions occur, or as services are provided and collectability is reasonably assured. Certain specific policies related to service charges and other fees include the following: | |||||||
Deposit Service Charges | |||||||
Service charges on deposit accounts are primarily fees related to customer overdraft events and not sufficient funds fees, net of any refunded fees, and are recognized as transactions occur and services are provided. Service charges on deposit accounts also relate to monthly fees based on minimum balances, and are earned as transactions occur and services are provided. | |||||||
Interchange Fees | |||||||
Interchange fees include interchange income from consumer debit card transactions processed through card association networks. Interchange income is a fee paid by a merchant bank to the card-issuing bank through the interchange network. Interchange fees are set by the card association networks and are based on cardholder purchase volumes. | |||||||
Comprehensive Income | |||||||
Comprehensive income consists of net income and other comprehensive income, net of applicable income taxes. Other comprehensive income (loss) consists entirely of unrealized appreciation (depreciation) on available-for-sale securities. | |||||||
New Accounting Pronouncements | |||||||
In December 2011, the FASB issued Accounting Standards Update (“ASU”) 2011-11, Disclosures about Offsetting Assets and Liabilities. Under the ASU, an entity is required to disclose both gross and net information about instruments and transactions eligible for offset in the balance sheet, as well as instruments and transactions subject to an agreement similar to a master netting agreement. In January 2013, the FASB released ASU 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which amended ASU 2011-11 to specifically include only derivatives accounted for under Topic 815, repurchase and reverse repurchase agreements, and securities borrowing and lending transactions that are either offset or subject to an enforceable master netting arrangement. The disclosure requirements are effective for annual reporting periods beginning on or after January 1, 2013, and interim periods therein, with retrospective application required. The adoption of these accounting pronouncements did not have a material impact on the Company’s consolidated financial statements. | |||||||
In January 2014, the FASB issued ASU 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The update amends existing literature to eliminate diversity in practice by clarifying and defining when an in substance repossession or foreclosure occurs. The terms “in substance a repossession or foreclosure” and “physical possession” are not currently defined in the accounting literature, resulting in diversity in practice when a creditor derecognizes a loan receivable and recognizes the real estate property collateralizing the loan receivable as an asset. Additionally, the update requires interim and annual disclosures of both the amount of foreclosed residential real estate property and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. The update is effective for annual periods and the interim periods within those annual periods beginning after December 15, 2014. The adoption of the update to existing standards is not expected to have a material impact to the Company’s consolidated financial statements. | |||||||
In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09 “Revenue from Contracts with Customers (Topic 606)”, which does not apply to financial instruments. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The amendments can be applied retrospectively to each prior reporting period or retrospectively with the cumulative effect of initially applying this ASU recognized at the date of initial application. Early application is not permitted. The Company is assessing the impact of ASU 2014-09 on its accounting and disclosures. |
Restrictions_on_Cash_and_Due_f
Restrictions on Cash and Due from Banks | 3 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Sep. 30, 2014 | |
Cash and Cash Equivalents [Abstract] | ||
Restrictions on Cash and Due from Banks | 3. Restrictions on Cash and Due from Banks | 2. Restrictions on Cash and Due from Banks |
The Company is required to maintain reserve balances in cash and on deposit with the Federal Reserve based on a percentage of deposits. The total requirement was approximately $41.9 million and $50.4 million at December 31, 2014 and September 30, 2014, respectively. | The Company is required to maintain reserve balances in cash and on deposit with the Federal Reserve based on a percentage of deposits. The total requirement was approximately $50.36 million and $52.66 million at September 30, 2014 and 2013, respectively. |
Securities
Securities | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||
Securities | 4. Securities | 3. Securities | ||||||||||||||||||||||||||||||||||||||||||||||||
The amortized cost and approximate fair value of investments in securities, all of which are classified as available for sale according to management’s intent, are summarized as follows (in thousands): | The amortized cost and approximate fair value of investments in securities, all of which are classified as available for sale according to management’s intent, are summarized as follows (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||||||||||||||||||||||||
Unrealized | Unrealized | Unrealized | Unrealized | |||||||||||||||||||||||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | |||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | As of September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 271,551 | $ | 1,027 | $ | — | $ | 272,578 | U.S. Treasury securities | $ | 222,868 | $ | 31 | $ | (174 | ) | $ | 222,725 | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | Mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||||||
Government National Mortgage Association | 989,204 | 3,307 | (9,409 | ) | 983,102 | Government National Mortgage Association | 1,113,363 | 4,639 | (14,587 | ) | 1,103,415 | |||||||||||||||||||||||||||||||||||||||
States and political subdivision securities | 2,117 | 1 | — | 2,118 | Federal National Mortgage Association | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 4,996 | 145 | — | 5,141 | States and political subdivision securities | 2,188 | 1 | — | 2,189 | |||||||||||||||||||||||||||||||||||||||||
Other | 1,006 | 38 | — | 1,044 | Corporate debt securities | 11,732 | 141 | — | 11,873 | |||||||||||||||||||||||||||||||||||||||||
Other | 1,006 | 34 | — | 1,040 | ||||||||||||||||||||||||||||||||||||||||||||||
$ | 1,268,874 | $ | 4,518 | $ | (9,409 | ) | $ | 1,263,983 | ||||||||||||||||||||||||||||||||||||||||||
$ | 1,351,157 | $ | 4,846 | $ | (14,761 | ) | $ | 1,341,242 | ||||||||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||||||||||||||||||||||||||||
Unrealized | Unrealized | Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||||||||||||||||||||||||||
Gains | Losses | Unrealized | Unrealized | |||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | Gains | Losses | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 222,868 | $ | 31 | $ | (174 | ) | $ | 222,725 | As of September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities: | U.S. Treasury securities | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||
Government National Mortgage Association | 1,113,363 | 4,639 | (14,587 | ) | 1,103,415 | Mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||
States and political subdivision securities | 2,188 | 1 | — | 2,189 | Government National Mortgage Association | 1,470,822 | 9,634 | (21,013 | ) | 1,459,443 | ||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 11,732 | 141 | — | 11,873 | Federal National Mortgage Association | 1 | — | — | 1 | |||||||||||||||||||||||||||||||||||||||||
Other | 1,006 | 34 | — | 1,040 | States and political subdivision securities | 3,513 | 19 | — | 3,532 | |||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 11,889 | 133 | (9 | ) | 12,013 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 1,351,157 | $ | 4,846 | $ | (14,761 | ) | $ | 1,341,242 | Other | 5,449 | 17 | (6 | ) | 5,460 | ||||||||||||||||||||||||||||||||||||
$ | 1,491,674 | $ | 9,803 | $ | (21,028 | ) | $ | 1,480,449 | ||||||||||||||||||||||||||||||||||||||||||
The amortized cost and approximate fair value of debt securities available for sale as of December 31, 2014 and September 30, 2014, by contractual maturity, are shown below. Maturities of mortgage-backed securities may differ from contractual maturities because the mortgages underlying the securities may be called or repaid without any penalties. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The amortized cost and approximate fair value of debt securities available for sale as of September 30, 2014 and 2013, by contractual maturity, are shown below. Maturities of mortgage-backed securities may differ from contractual maturities because the mortgages underlying the securities may be called or repaid without any penalties. | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
(In Thousands) | Amortized | Fair Value | Amortized | Fair Value | September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Cost | Cost | (In Thousands) | Amortized Cost | Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||
Due in one year or less | $ | 470 | $ | 470 | $ | 7,207 | $ | 7,218 | Due in one year or less | $ | 7,207 | $ | 7,218 | $ | 1,497 | $ | 1,514 | |||||||||||||||||||||||||||||||||
Due after one year through five years | 247,796 | 248,733 | 223,282 | 223,140 | Due after one year through five years | 223,282 | 223,140 | 6,988 | 7,123 | |||||||||||||||||||||||||||||||||||||||||
Due after five years through ten years | 30,398 | 30,634 | 6,299 | 6,429 | Due after five years through ten years | 6,299 | 6,429 | 6,917 | 6,908 | |||||||||||||||||||||||||||||||||||||||||
Due after ten years | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
278,664 | 279,837 | 236,788 | 236,787 | |||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | 989,204 | 983,102 | 1,113,363 | 1,103,415 | 236,788 | 236,787 | 15,402 | 15,545 | ||||||||||||||||||||||||||||||||||||||||||
Securities without contractual maturities | 1,006 | 1,044 | 1,006 | 1,040 | Mortgage-backed securities | 1,113,363 | 1,103,415 | 1,470,823 | 1,459,444 | |||||||||||||||||||||||||||||||||||||||||
Securities without contractual maturities | 1,006 | 1,040 | 5,449 | 5,460 | ||||||||||||||||||||||||||||||||||||||||||||||
$ | 1,268,874 | $ | 1,263,983 | $ | 1,351,157 | $ | 1,341,242 | |||||||||||||||||||||||||||||||||||||||||||
$ | 1,351,157 | $ | 1,341,242 | $ | 1,491,674 | $ | 1,480,449 | |||||||||||||||||||||||||||||||||||||||||||
Proceeds from sales of securities available for sale were $55.1 million and $0.2 million for the three months ended December 31, 2014 and 2013, respectively. Gross gains of $0.6 million and $0 and gross losses of $0.5 million and $0 were realized on the sales for the three months ended December 31, 2014 and 2013, respectively, using the specific identification method. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Securities with a carrying value of approximately $1,161.7 million and $1,132.3 million at December 31, 2014 and September 30, 2014, respectively, were pledged as collateral on public deposits, securities sold under agreements to repurchase, and for other purposes as required or permitted by law. The counterparties do not have the right to sell or pledge the securities the Company has pledged as collateral. | ||||||||||||||||||||||||||||||||||||||||||||||||||
As detailed in the following tables, certain investments in debt securities, which are approximately 52% and 64% of the Company’s investment portfolio at December 31, 2014 and September 30, 2014, respectively, are reported in the consolidated financial statements at an amount less than their amortized cost. Based on evaluation of available evidence, including recent changes in market interest rates, credit rating information, implicit or explicit government guarantees, and information obtained from regulatory filings, management believes the declines in fair value of these securities are temporary. As the Company does not intend to sell the securities and it is not more likely than not that the Company will be required to sell the securities before the recovery of their amortized cost basis, which may be maturity, the Company does not consider the securities to be other than temporarily impaired at December 31, 2014 or September 30, 2014. For the three months ended December 31, 2014 and 2013, the Company did not recognize any other-than-temporary impairment. | Proceeds from sales of securities available for sale were $47.31 million, $72.44 million and $542.8 million for the years ended September 30, 2014, 2013 and 2012, respectively. Gross gains of $0.95 million, $1.70 million and $7.67 million and gross losses of $0.86 million, $0.78 million and $0.36 million were realized on the sales for the years ended September 30, 2014, 2013 and 2012, respectively, using the specific identification method. | |||||||||||||||||||||||||||||||||||||||||||||||||
Securities with a carrying value of approximately $1,132.31 million and $1,090.37 million at September 30, 2014 and 2013, respectively, were pledged as collateral on public deposits, securities sold under agreements to repurchase, and for other purposes as required or permitted by law. The counterparties do not have the right to sell or pledge the securities the Company has pledged as collateral. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the Company’s gross unrealized losses and approximate fair value in investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): | As detailed in the following tables, certain investments in debt securities, which are approximately 64% and 62% of the Company’s investment portfolio at September 30, 2014 and 2013, respectively, are reported in the consolidated financial statements at an amount less than their amortized cost. Based on evaluation of available evidence, including recent changes in market interest rates, credit rating information, implicit or explicit government guarantees, and information obtained from regulatory filings, management believes the declines in fair value for these securities are temporary. As the Company does not intend to sell the securities and it is not more likely than not that the Company will be required to sell the securities before the recovery of their amortized cost basis, which may be maturity, the Company does not consider the securities to be other than temporarily impaired at September 30, 2014 or 2013. For the years ended September 30, 2014, 2013 and 2012, the Company did not recognize any other-than-temporary impairment. | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the Company’s gross unrealized losses and approximate fair value in investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Less than 12 months | December 31, 2014 | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
12 months or more | Less than 12 months | September 30, 2014 | Total | |||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | 12 months or more | ||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||||||||||||||||||||
Mortgage-backed securities | 68 | — | 656,512 | (9,409 | ) | 656,580 | (9,409 | ) | U.S. Treasury securities | $ | 98,344 | $ | (174 | ) | $ | — | $ | — | $ | 98,344 | $ | (174 | ) | |||||||||||||||||||||||||||
Corporate debt securities | — | — | — | — | — | — | Mortgage-backed securities | 24,625 | (125 | ) | 730,171 | (14,462 | ) | 754,796 | (14,587 | ) | ||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | Corporate debt securities | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
$ | 68 | $ | — | $ | 656,512 | $ | (9,409 | ) | $ | 656,580 | $ | (9,409 | ) | |||||||||||||||||||||||||||||||||||||
$ | 122,969 | $ | (299 | ) | $ | 730,171 | $ | (14,462 | ) | $ | 853,140 | $ | (14,761 | ) | ||||||||||||||||||||||||||||||||||||
Less than 12 months | September 30, 2014 | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
12 months or more | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | Less than 12 months | September 30, 2013 | Total | ||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 98,344 | $ | (174 | ) | $ | — | $ | — | $ | 98,344 | $ | (174 | ) | 12 months or more | |||||||||||||||||||||||||||||||||||
Mortgage-backed securities | 24,625 | (125 | ) | 730,171 | (14,462 | ) | 754,796 | (14,587 | ) | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||||||||||||||||||
Corporate debt securities | — | — | — | — | — | — | Mortgage-backed securities | $ | 852,344 | $ | (19,469 | ) | $ | 56,781 | $ | (1,544 | ) | $ | 909,125 | $ | (21,013 | ) | ||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | Corporate debt securities | 4,436 | (9 | ) | — | — | 4,436 | (9 | ) | |||||||||||||||||||||||||||||||||||
Other | — | — | 4,986 | (6 | ) | 4,986 | (6 | ) | ||||||||||||||||||||||||||||||||||||||||||
$ | 122,969 | $ | (299 | ) | $ | 730,171 | $ | (14,462 | ) | $ | 853,140 | $ | (14,761 | ) | ||||||||||||||||||||||||||||||||||||
$ | 856,780 | $ | (19,478 | ) | $ | 61,767 | $ | (1,550 | ) | $ | 918,547 | $ | (21,028 | ) | ||||||||||||||||||||||||||||||||||||
The Company’s investments in nonmarketable equity securities are all stock of the Federal Home Loan Bank (“FHLB”). The carrying value of Federal Home Loan Bank stock was $35.9 million and $35.9 million as of December 31, 2014 and September 30, 2014, respectively, and is reported in other assets on the consolidated balance sheets. No indicators of impairment related to FHLB stock were identified during three months ended December 31, 2014 and 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The components of other comprehensive income from net unrealized gains (losses) on securities available for sale for the three months ended December 31, 2014 and 2013 are as follows (in thousands): | The Company’s investments in nonmarketable equity securities are all stock of the Federal Home Loan Bank. The carrying value of Federal Home Loan Bank stock was $35.92 million and $28.77 million as of September 30, 2014 and 2013, respectively, and is reported in other assets on the consolidated balance sheets. No indicators of impairment related to FHLB stock were identified during fiscal year 2014, 2013 or 2012. | |||||||||||||||||||||||||||||||||||||||||||||||||
The components of other comprehensive income from net unrealized gains (losses) on securities available for sale for the years ended September 30, 2014, 2013 and 2012 are as follows (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance accumulated other comprehensive income (loss) | $ | (6,157 | ) | $ | (7,081 | ) | Beginning balance accumulated other comprehensive income | $ | (7,081 | ) | $ | 19,111 | $ | 16,542 | ||||||||||||||||||||||||||||||||||||
Net unrealized holding gain (loss) arising during the period | 4,973 | (10,409 | ) | Net unrealized holding gain (loss) arising during the period | 1,400 | (40,651 | ) | 11,376 | ||||||||||||||||||||||||||||||||||||||||||
Reclassification adjustment for net gain realized in net income | 51 | — | Reclassification adjustment for net gain realized in net income | (90 | ) | (917 | ) | (7,305 | ) | |||||||||||||||||||||||||||||||||||||||||
Net change in unrealized gain (loss) before income taxes | 5,024 | (10,409 | ) | Net change in unrealized gain (loss) before income taxes | 1,310 | (41,568 | ) | 4,071 | ||||||||||||||||||||||||||||||||||||||||||
Income tax (expense) benefit | (1,909 | ) | 3,955 | Income tax benefit (expense) | (386 | ) | 15,376 | (1,502 | ) | |||||||||||||||||||||||||||||||||||||||||
Net change in unrealized (loss) gain on securities after taxes | 3,115 | (6,454 | ) | Net change in unrealized gain (loss) on securities after taxes | 924 | (26,192 | ) | 2,569 | ||||||||||||||||||||||||||||||||||||||||||
Ending balance accumulated other comprehensive income (loss) | $ | (3,042 | ) | $ | (13,535 | ) | Ending balance accumulated other comprehensive income (loss) | $ | (6,157 | ) | $ | (7,081 | ) | $ | 19,111 | |||||||||||||||||||||||||||||||||||
Loans
Loans | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | 5. Loans | 4. Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The composition of net loans as of December 31, 2014 and September 30, 2014, is as follows (in thousands): | The composition of net loans as of September 30, 2014 and 2013, is as follows (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | September 30, | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2014 | Residential real estate | $ | 901,605 | $ | 906,469 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 910,406 | $ | 901,605 | Commercial real estate | 2,541,194 | 2,311,974 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 2,645,721 | 2,541,194 | Commercial non real estate | 1,571,640 | 1,481,756 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 1,551,607 | 1,571,640 | Agriculture | 1,681,209 | 1,587,248 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 1,788,028 | 1,681,209 | Consumer | 90,086 | 101,477 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 85,822 | 90,086 | Other | 34,243 | 24,711 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | 35,311 | 34,243 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
6,819,977 | 6,413,635 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7,016,895 | 6,819,977 | Less: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Less: | Allowance for loan losses | (47,518 | ) | (55,864 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (51,820 | ) | (47,518 | ) | Unamortized discount on acquired loans | (25,638 | ) | (34,717 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount on acquired loans | (23,321 | ) | (25,638 | ) | Unearned net deferred fees and costs and loans in process | (6,872 | ) | (16,245 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Unearned net deferred fees and costs and loans in process | (6,809 | ) | (6,872 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 6,739,949 | $ | 6,306,809 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 6,934,945 | $ | 6,739,949 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
The loan breakouts above include loans covered by FDIC loss sharing agreements totaling $234.04 million and $347.41 million as of September 30, 2014 and 2013, respectively, residential real estate loans held for sale totaling $10.38 million and $8.27 million at September 30, 2014 and 2013, respectively, and $985.41 million and $841.86 million of loans and written loan commitments accounted for at fair value as of September 30, 2014 and 2013, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The loan breakouts above include loans covered by FDIC loss sharing agreements totaling $195.5 million and $234.0 million as of December 31, 2014 and September 30, 2014, respectively, residential real estate loans held for sale totaling $9.4 million and $10.4 million at December 31, 2014 and September 30, 2014, respectively, and $1,023.3 million and $985.4 million of loans and written loan commitments accounted for at fair value as of December 31, 2014 and September 30, 2014, respectively. | Unamortized net deferred fees and costs totaled $6.27 million and $5.19 million as of September 30, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unamortized net deferred fees and costs totaled $6.8 million and $6.3 million as of December 31, 2014 and September 30, 2014, respectively. | Loans in process represent loans that have been funded as of the balance sheet dates but not classified into a loan category and loan payments received as of the balance sheet dates that have not been applied to individual loan accounts. Loans in process totaled $0.60 million and $11.05 million as of September 30, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans in process represent loans that have been funded as of the balance sheet dates but not classified into a loan category and loan payments received as of the balance sheet dates that have not been applied to individual loan accounts. Loans in process totaled $0 and $0.6 million as of December 31, 2014 and September 30, 2014, respectively. | Loans guaranteed by agencies of the U.S. government totaled $106.46 million and $104.04 million at September 30, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans guaranteed by agencies of the U.S. government totaled $101.9 million and $106.5 million at December 31, 2014 and September 30, 2014, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal balances of residential real estate loans sold totaled $64.3 million and $54.2 million for the three months ended December 31, 2014 and 2013, respectively. | Principal balances of residential real estate loans sold totaled $214.25 million and $450.01 million for the years end September 30, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the Company’s nonaccrual loans at September 30, 2014 and 2013 (in thousands), excluding loans covered under the FDIC loss-sharing agreements. Loans greater than 90 days past due and still accruing interest as of September 30, 2014 and 2013, were not significant. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the Company’s nonaccrual loans at December 31, 2014 and September 30, 2014 (in thousands), excluding loans covered under the FDIC loss-sharing agreements. Loans greater than 90 days past due and still accruing interest as of December 31, 2014 and September 30, 2014, were not significant. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans | December 31, | September 30, | Residential real estate | $ | 6,671 | $ | 8,746 | |||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2014 | Commercial real estate | 20,767 | 57,652 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 7,269 | $ | 6,671 | Commercial non real estate | 4,908 | 6,641 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 10,638 | 20,767 | Agriculture | 11,453 | 8,236 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 10,630 | 4,908 | Consumer | 146 | 226 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 10,342 | 11,453 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 104 | 146 | Total | $ | 43,945 | $ | 81,501 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 38,983 | $ | 43,945 | The following table (in thousands) presents the Company’s past due loans at September 30, 2014 and 2013. This table is presented net of unamortized discount on acquired loans and excludes loans measured at fair value with changes in fair value reported in earnings of $985.41 million for 2014 and $841.86 million for 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table (in thousands) presents the Company’s past due loans at December 31, 2014 and September 30, 2014. This table is presented net of unamortized discount on acquired loans and excludes loans measured at fair value with changes in fair value reported in earnings of $1,023.3 million for December 31, 2014 and $985.4 million for September 30, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | 30-59 Days | 60-89 Days | Greater Than | Total | Current | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | 90 Days | Past Due | Financing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | 30-59 Days | 60-89 Days | Greater Than | Total | Current | Total | Receivables | |||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | 90 Days | Past Due | Financing | Residential real estate | $ | 675 | $ | 611 | $ | 2,581 | $ | 3,867 | $ | 760,887 | $ | 764,754 | |||||||||||||||||||||||||||||||||||||||||
Receivables | Commercial real estate | 11,050 | 819 | 3,384 | 15,253 | 1,988,585 | 2,003,838 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 3,652 | $ | 543 | $ | 3,368 | $ | 7,563 | $ | 773,471 | $ | 781,034 | Commercial non real estate | 1,761 | 6,228 | 744 | 8,733 | 1,303,925 | 1,312,658 | |||||||||||||||||||||||||||||||||||||||
Commercial real estate | 1,860 | 3,632 | 4,636 | 10,128 | 2,256,815 | 2,266,943 | Agriculture | 16 | 368 | 4,205 | 4,589 | 1,364,960 | 1,369,549 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 1,586 | 2,146 | 8,043 | 11,775 | 1,120,734 | 1,132,509 | Consumer | 244 | 18 | 49 | 311 | 89,528 | 89,839 | |||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 4,036 | — | 3,673 | 7,709 | 1,465,574 | 1,473,283 | Other | — | — | — | — | 34,243 | 34,243 | |||||||||||||||||||||||||||||||||||||||||||||
Consumer | 205 | 108 | 28 | 341 | 85,327 | 85,668 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | 35,311 | 35,311 | 13,746 | 8,044 | 10,963 | 32,753 | 5,542,128 | 5,574,881 | ||||||||||||||||||||||||||||||||||||||||||||||
Loans covered by FDIC loss sharing agreements | 1,960 | 1,252 | 3,728 | 6,940 | 227,096 | 234,036 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
11,339 | 6,429 | 19,748 | 37,516 | 5,737,232 | 5,774,748 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans covered by FDIC loss sharing agreements | 4,760 | 1,879 | 3,315 | 9,954 | 185,591 | 195,545 | Total | $ | 15,706 | $ | 9,296 | $ | 14,691 | $ | 39,693 | $ | 5,769,224 | $ | 5,808,917 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 16,099 | $ | 8,308 | $ | 23,063 | $ | 47,470 | $ | 5,922,823 | $ | 5,970,293 | ||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | 30-59 Days | 60-89 Days | Greater Than | Total | Current | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | 90 Days | Past Due | Financing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | 30-59 Days | 60-89 Days | Greater Than | Total Past | Current | Total | Receivables | |||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | 90 Days | Due | Financing | Residential real estate | $ | 625 | $ | 955 | $ | 4,942 | $ | 6,522 | $ | 721,333 | $ | 727,855 | |||||||||||||||||||||||||||||||||||||||||
Receivables | Commercial real estate | 431 | 158 | 9,639 | 10,228 | 1,797,884 | 1,808,112 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 675 | $ | 611 | $ | 2,581 | $ | 3,867 | $ | 760,887 | $ | 764,754 | Commercial non real estate | 1,342 | 198 | 2,821 | 4,361 | 1,219,731 | 1,224,092 | |||||||||||||||||||||||||||||||||||||||
Commercial real estate | 11,050 | 819 | 3,384 | 15,253 | 1,988,585 | 2,003,838 | Agriculture | 102 | 4,040 | 2,867 | 7,009 | 1,297,208 | 1,304,217 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 1,761 | 6,228 | 744 | 8,733 | 1,303,925 | 1,312,658 | Consumer | 340 | 65 | 44 | 449 | 100,214 | 100,663 | |||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 16 | 368 | 4,205 | 4,589 | 1,364,960 | 1,369,549 | Other | — | — | — | — | 24,711 | 24,711 | |||||||||||||||||||||||||||||||||||||||||||||
Consumer | 244 | 18 | 49 | 311 | 89,528 | 89,839 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | 34,243 | 34,243 | 2,840 | 5,416 | 20,313 | 28,569 | 5,161,081 | 5,189,650 | ||||||||||||||||||||||||||||||||||||||||||||||
Loans covered by FDIC loss sharing agreements | 1,307 | 3,861 | 6,632 | 11,800 | 335,608 | 347,408 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
13,746 | 8,044 | 10,963 | 32,753 | 5,542,128 | 5,574,881 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans covered by FDIC loss sharing agreements | 1,960 | 1,252 | 3,728 | 6,940 | 227,096 | 234,036 | Total | $ | 4,147 | $ | 9,277 | $ | 26,945 | $ | 40,369 | $ | 5,496,689 | $ | 5,537,058 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 15,706 | $ | 9,296 | $ | 14,691 | $ | 39,693 | $ | 5,769,224 | $ | 5,808,917 | ||||||||||||||||||||||||||||||||||||||||||||||
The composition of the loan portfolio by internal risk rating is as follows as of September 30, 2014 and 2013. This table (in thousands) is presented net of unamortized discount on acquired loans and excludes loans measured at fair value with changes in fair value reported in earnings of $985.41 million for 2014 and $841.86 million for 2013: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The composition of the loan portfolio by internally assigned grade is as follows as of December 31, 2014 and September 30, 2014. This table (in thousands) is presented net of unamortized discount on acquired loans and excludes loans measured at fair value with changes in fair value reported in earnings of $1,023.3 million for December 31, 2014 and $985.4 million for September 30, 2014: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | Residential | Commercial | Commercial | Agriculture | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Non Real | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | Residential | Commercial | Commercial | Agriculture | Consumer | Other | Total | Estate | ||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Non Real | Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estate | Grade: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | Pass | $ | 747,485 | $ | 1,867,866 | $ | 1,218,558 | $ | 1,202,145 | $ | 89,197 | $ | 34,243 | $ | 5,159,494 | |||||||||||||||||||||||||||||||||||||||||||
Grade: | Watchlist | 5,320 | 84,132 | 65,628 | 132,262 | 381 | — | 287,723 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 764,217 | $ | 2,129,884 | $ | 1,021,994 | $ | 1,314,547 | $ | 85,082 | $ | 35,311 | $ | 5,351,035 | Substandard | 11,290 | 51,692 | 27,499 | 35,107 | 242 | — | 125,830 | ||||||||||||||||||||||||||||||||||||
Watchlist | 4,548 | 70,965 | 73,936 | 125,659 | 365 | — | 275,473 | Doubtful | 659 | 148 | 798 | 35 | 19 | — | 1,659 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | 11,717 | 65,984 | 34,884 | 33,042 | 221 | — | 145,848 | Loss | — | — | 175 | — | — | — | 175 | |||||||||||||||||||||||||||||||||||||||||||
Doubtful | 552 | 110 | 1,514 | 35 | — | — | 2,211 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | — | — | 181 | — | — | — | 181 | Ending balance | 764,754 | 2,003,838 | 1,312,658 | 1,369,549 | 89,839 | 34,243 | 5,574,881 | |||||||||||||||||||||||||||||||||||||||||||
Loans covered by FDIC loss sharing agreements | 127,115 | 95,467 | 9,390 | 2,004 | 60 | — | 234,036 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | 781,034 | 2,266,943 | 1,132,509 | 1,473,283 | 85,668 | 35,311 | 5,774,748 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Loans covered by FDIC loss sharing agreements | 119,894 | 66,264 | 7,460 | 1,874 | 53 | — | 195,545 | Total | $ | 891,869 | $ | 2,099,305 | $ | 1,322,048 | $ | 1,371,553 | $ | 89,899 | $ | 34,243 | $ | 5,808,917 | ||||||||||||||||||||||||||||||||||||
Total | $ | 900,928 | $ | 2,333,207 | $ | 1,139,969 | $ | 1,475,157 | $ | 85,721 | $ | 35,311 | $ | 5,970,293 | ||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | Residential | Commercial | Commercial | Agriculture | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Non Real | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | Residential | Commercial | Commercial | Agriculture | Consumer | Other | Total | Estate | ||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Non Real | Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estate | Grade: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | Pass | $ | 707,859 | $ | 1,652,694 | $ | 1,144,131 | $ | 1,192,357 | $ | 100,087 | $ | 24,711 | $ | 4,821,839 | |||||||||||||||||||||||||||||||||||||||||||
Grade: | Watchlist | 5,779 | 72,924 | 52,576 | 87,596 | 164 | — | 219,039 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 747,485 | $ | 1,867,866 | $ | 1,218,558 | $ | 1,202,145 | $ | 89,197 | $ | 34,243 | $ | 5,159,494 | Substandard | 13,039 | 78,244 | 23,538 | 23,963 | 398 | — | 139,182 | ||||||||||||||||||||||||||||||||||||
Watchlist | 5,320 | 84,132 | 65,628 | 132,262 | 381 | — | 287,723 | Doubtful | 1,178 | 4,250 | 3,847 | 301 | 14 | — | 9,590 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | 11,290 | 51,692 | 27,499 | 35,107 | 242 | — | 125,830 | Loss | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Doubtful | 659 | 148 | 798 | 35 | 19 | — | 1,659 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | — | — | 175 | — | — | — | 175 | Ending balance | 727,855 | 1,808,112 | 1,224,092 | 1,304,217 | 100,663 | 24,711 | 5,189,650 | |||||||||||||||||||||||||||||||||||||||||||
Loans covered by FDIC loss sharing agreements | 167,835 | 150,745 | 28,163 | 525 | 140 | — | 347,408 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | 764,754 | 2,003,838 | 1,312,658 | 1,369,549 | 89,839 | 34,243 | 5,574,881 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Loans covered by FDIC loss sharing agreements | 127,115 | 95,467 | 9,390 | 2,004 | 60 | — | 234,036 | Total | $ | 895,690 | $ | 1,958,857 | $ | 1,252,255 | $ | 1,304,742 | $ | 100,803 | $ | 24,711 | $ | 5,537,058 | ||||||||||||||||||||||||||||||||||||
Total | $ | 891,869 | $ | 2,099,305 | $ | 1,322,048 | $ | 1,371,553 | $ | 89,899 | $ | 34,243 | $ | 5,808,917 | ||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the Company’s impaired loans (in thousands). This table excludes loans covered by FDIC loss sharing agreements: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the Company’s impaired loans (in thousands). This table excludes loans covered by FDIC loss sharing agreements: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Balance | Investment | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | September 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Investment | Impaired loans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired loans: | Residential real estate | $ | 12,107 | $ | 12,737 | $ | 2,529 | $ | 13,572 | |||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | Commercial real estate | 62,155 | 64,597 | 2,017 | 84,490 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 12,425 | $ | 12,483 | $ | 2,419 | $ | 12,266 | Commercial non real estate | 32,522 | 37,882 | 3,927 | 31,827 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 76,250 | 76,332 | 2,846 | 69,203 | Agriculture | 35,528 | 37,958 | 1,155 | 30,546 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 39,110 | 39,194 | 8,828 | 35,816 | Consumer | 280 | 491 | 51 | 346 | |||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 34,080 | 34,077 | 955 | 34,804 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 223 | 261 | 42 | 251 | $ | 142,592 | $ | 153,665 | $ | 9,679 | $ | 160,781 | ||||||||||||||||||||||||||||||||||||||||||||||
$ | 162,088 | $ | 162,347 | $ | 15,090 | $ | 152,340 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Balance | Investment | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Investment | Impaired loans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired loans: | Residential real estate | $ | 15,037 | $ | 16,815 | $ | 3,217 | $ | 15,716 | |||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | Commercial real estate | 106,824 | 123,523 | 5,341 | 106,780 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 12,107 | $ | 12,737 | $ | 2,529 | $ | 13,572 | Commercial non real estate | 31,132 | 32,557 | 5,607 | 34,817 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 62,155 | 64,597 | 2,017 | 84,490 | Agriculture | 25,563 | 29,632 | 3,022 | 15,522 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 32,522 | 37,882 | 3,927 | 31,827 | Consumer | 412 | 656 | 90 | 554 | |||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 35,528 | 37,958 | 1,155 | 30,546 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 280 | 491 | 51 | 346 | $ | 178,968 | $ | 203,183 | $ | 17,277 | $ | 173,389 | ||||||||||||||||||||||||||||||||||||||||||||||
$ | 142,592 | $ | 153,665 | $ | 9,679 | $ | 160,781 | There were no impaired loans with no valuation allowance as of September 30, 2014 or 2013. Interest income recognized on impaired loans was $5.87 million and $7.87 million for the years ended September 30, 2014 and 2013, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Valuation adjustments made to repossessed properties for the years ended September 30, 2014 and 2013, totaled $9.69 million and $4.03 million, respectively, and are included in other noninterest expense. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
There are no impaired loans without a valuation allowance, other than those loans for which the Company has claim to collateral with value(s) in excess of the outstanding loan amount, after allowing for the cost of liquidating the collateral as of December 31, 2014. There were no impaired loans without a valuation allowance as of September 30, 2014. Interest income recognized on impaired loans was $3.1 million and $1.2 million for the three months ended December 31, 2014 and 2013, respectively. | Troubled Debt Restructured Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Valuation adjustments made to repossessed properties for the three months ended December 31, 2014 and 2013, totaled $2.1 million and $0.5 million, respectively, and are included in other noninterest expense. | Included in certain loan categories in the impaired loans are troubled debt restructurings (“TDRs”) that were classified as impaired. These TDRs do not include purchased impaired loans. When the Company grants concessions to borrowers such as reduced interest rates or extensions of loan periods that would not be considered other than because of borrowers’ financial difficulties, the modification is considered a TDR. Specific reserves included in the allowance for loan losses for TDRs were $3.18 million and $6.43 million at September 30, 2014 and 2013, respectively. Commitments to lend additional funds to borrowers whose loans were modified in a TDR were not significant as of September 30, 2014 or 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructured Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Included in certain loan categories in the impaired loans are troubled debt restructurings (“TDRs”) that were classified as impaired. These TDRs do not include purchased impaired loans. When the Company grants concessions to borrowers such as reduced interest rates or extensions of loan periods that would not be considered other than because of borrowers’ financial difficulties, the modification is considered a TDR. Specific reserves included in the allowance for loan losses for TDRs were $2.1 million and $3.2 million at December 31, 2014 and September 30, 2014, respectively. Commitments to lend additional funds to borrowers whose loans were modified in a TDR were not significant as of December 31, 2014 or September 30, 2014. | The following table presents the recorded value of the Company’s TDR balances as of September 30, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the recorded value of the Company’s TDR balances as of December 31, 2014 and September 30, 2014 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accruing | Nonaccrual | Accruing | Nonaccrual | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | September 30, 2014 | Residential real estate | $ | 1,112 | $ | 1,730 | $ | 662 | $ | 1,100 | ||||||||||||||||||||||||||||||||||||||||||||||||
Accruing | Nonaccrual | Accruing | Nonaccrual | Commercial real estate | 25,177 | 6,884 | 29,373 | 49,736 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 723 | $ | 1,947 | $ | 1,112 | $ | 1,730 | Commercial non real estate | 6,753 | 1,785 | 4,769 | 5,007 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 41,114 | 6,638 | 25,177 | 6,884 | Agriculture | 3,780 | 9,994 | 4,326 | 7,268 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 7,561 | 1,468 | 6,753 | 1,785 | Consumer | 35 | 22 | — | 29 | |||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 3,731 | 9,708 | 3,780 | 9,994 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 17 | 17 | 35 | 22 | Total | $ | 36,857 | $ | 20,415 | $ | 39,130 | $ | 63,140 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 53,146 | $ | 19,778 | $ | 36,857 | $ | 20,415 | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents a summary of all accruing loans restructured in TDRs during the years ended September 30, 2014 and 2013: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents a summary of all accruing loans restructured in TDRs during the three months ended December 31, 2014 and 2013: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended September 30, 2014 | Year ended September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Number | Recorded Investment | Number | Recorded Investment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended December 31, | Pre- | Post- | Pre- | Post- | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | Modification | Modification | Modification | Modification | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Number | Recorded Investment | Number | Recorded Investment | Residential real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Pre- | Post- | Pre- | Post- | Rate modification | — | $ | — | $ | — | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||
Modification | Modification | Modification | Modification | Term extension | 6 | 206 | 206 | 7 | 663 | 663 | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | Payment modification | 6 | 474 | 474 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | $ | — | $ | — | — | $ | — | $ | — | Bankruptcy | 9 | 338 | 338 | 1 | 5 | 5 | |||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | 2 | 74 | 74 | Other | 2 | 49 | 49 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | 1 | 15 | 15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | 1 | 130 | 130 | Total residential real estate | 23 | 1,067 | 1,067 | 8 | 668 | 668 | |||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total residential real estate | — | — | — | 4 | 219 | 219 | Rate modification | — | — | — | 2 | 990 | 990 | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | 3 | 109 | 109 | 7 | 4,158 | 4,158 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | Payment modification | 2 | 2,911 | 2,911 | 3 | 13,497 | 13,497 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | Bankruptcy | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | — | — | — | Other | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | 2 | 18,881 | 18,881 | 1 | 1,070 | 1,070 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | Total commercial real estate | 5 | 3,020 | 3,020 | 12 | 18,645 | 18,645 | |||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate | 2 | 18,881 | 18,881 | 1 | 1,070 | 1,070 | Rate modification | — | — | — | 1 | 529 | 529 | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | 7 | 2,183 | 2,183 | 10 | 14,851 | 14,851 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | Payment modification | 10 | 3,593 | 3,593 | 9 | 2,759 | 2,759 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | 1 | 32 | 32 | 2 | 500 | 500 | Bankruptcy | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | 3 | 1,699 | 1,699 | Other | 5 | 945 | 945 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | 1 | 1,824 | 1,824 | 2 | 668 | 668 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | Total commercial non real estate | 22 | 6,721 | 6,721 | 20 | 18,139 | 18,139 | |||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial non real estate | 2 | 1,856 | 1,856 | 7 | 2,867 | 2,867 | Rate modification | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | 5 | 2,755 | 2,755 | 6 | 2,008 | 2,008 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | Payment modification | — | — | — | 2 | 1,949 | 1,949 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | Bankruptcy | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | — | — | — | Other | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | Total agriculture | 5 | 2,755 | 2,755 | 8 | 3,957 | 3,957 | |||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total agriculture | — | — | — | — | — | — | Rate modification | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | 1 | 3 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | Payment modification | 4 | 21 | 21 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | Bankruptcy | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | — | — | — | Other | 2 | 28 | 28 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | Total consumer | 6 | 49 | 49 | 1 | 3 | 3 | |||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | 1 | 10 | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total accruing | 61 | $ | 13,612 | $ | 13,612 | 49 | $ | 41,412 | $ | 41,412 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer | — | — | — | 1 | 10 | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in recorded investment due to principal paydown at time of modification | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total accruing | 4 | $ | 20,737 | $ | 20,737 | 13 | $ | 4,166 | $ | 4,166 | Change in recorded investment due to chargeoffs at time of modification | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Change in recorded investment due to principal paydown at time of modification | — | — | — | — | — | The following table presents a summary of all non-accruing loans restructured in TDRs during the years ended September 30, 2014 and 2013: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in recorded investment due to chargeoffs at time of modification | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents a summary of all non-accruing loans restructured in TDRs during the three months ended December 31, 2014 and 2013: | Year ended September 30, 2014 | Year ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Number | Recorded Investment | Number | Recorded Investment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pre- | Post- | Pre- | Post- | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended December 31, | Modification | Modification | Modification | Modification | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | Residential real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number | Recorded Investment | Number | Recorded Investment | Rate modification | 5 | $ | 119 | $ | 119 | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Pre- | Post- | Pre- | Post- | Term extension | 13 | 351 | 351 | 15 | 638 | 638 | |||||||||||||||||||||||||||||||||||||||||||||||
Modification | Modification | Modification | Modification | Payment modification | 6 | 219 | 219 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | Bankruptcy | 7 | 275 | 275 | 2 | 336 | 336 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | $ | — | $ | — | — | $ | — | $ | — | Other | 11 | 425 | 425 | 2 | 147 | 147 | |||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | 1 | 2 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | — | — | — | Total residential real estate | 42 | 1,389 | 1,389 | 19 | 1,121 | 1,121 | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | 1 | 4 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | 1 | 38 | 38 | Commercial real estate | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | 3 | 1,618 | 1,618 | 2 | 310 | 310 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total residential real estate | — | — | — | 3 | 44 | 44 | Term extension | 2 | 4,031 | 4,031 | 7 | 2,448 | 2,448 | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | 7 | 17,578 | 17,578 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | Bankruptcy | — | — | — | 3 | 3,162 | 3,162 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | Other | 1 | 87 | 87 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | — | — | — | Total commercial real estate | 6 | 5,736 | 5,736 | 19 | 23,498 | 23,498 | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | Commercial Non Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | 1 | 1,067 | 1,067 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate | — | — | — | — | — | — | Term extension | 10 | 438 | 438 | 8 | 1,127 | 1,127 | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | 1 | 36 | 36 | 3 | 2,051 | 1,416 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Non Real Estate | Bankruptcy | 1 | 10 | 10 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | Other | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | 8 | 125 | 125 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | — | — | — | Total commercial non real estate | 12 | 484 | 484 | 12 | 4,245 | 3,610 | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | Agriculture | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial non real estate | — | — | — | 8 | 125 | 125 | Term extension | 3 | 831 | 831 | 3 | 768 | 768 | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | 4 | 6,196 | 6,196 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | Bankruptcy | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | Other | 2 | 511 | 511 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | — | — | — | Total agriculture | 5 | 1,342 | 1,342 | 7 | 6,964 | 6,964 | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | 2 | 11 | 11 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total agriculture | — | — | — | — | — | — | Term extension | 2 | 15 | 15 | 5 | 30 | 30 | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | 1 | 2 | 2 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | Bankruptcy | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | Other | 2 | 9 | 9 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | 1 | 11 | 11 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | — | — | — | Total consumer | 5 | 26 | 26 | 7 | 41 | 41 | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | 1 | 1 | 1 | Total non-accruing | 70 | $ | 8,977 | $ | 8,977 | 64 | $ | 35,869 | $ | 35,234 | |||||||||||||||||||||||||||||||||||||||||
Total consumer | — | — | — | 2 | 12 | 12 | Change in recorded investment due to principal paydown at time of modification | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Change in recorded investment due to chargeoffs at time of modification | — | — | — | 1 | $ | 635 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total non-accruing | — | $ | — | $ | — | 13 | $ | 181 | $ | 181 | ||||||||||||||||||||||||||||||||||||||||||||||||
For the years ended September 30, 2014 and 2013, the table below represents defaults on loans that were first modified during the respective fiscal year, that became 90 days or more delinquent or were charged-off during the respective fiscal year. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in recorded investment due to principal paydown at time of modification | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in recorded investment due to chargeoffs at time of modification | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Years Ended September 30, 2014 | Years Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the three months ended December 31, 2014 and 2013, the table below represents defaults on loans that were first modified during the respective past 12 months, that became 90 days or more delinquent or were charged-off during the three months ended December 31, 2014 and 2013, respectively. | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Investment | Loans | Investment | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | 11 | $ | 419 | 5 | $ | 647 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended December 31, | Commercial real estate | — | — | 7 | 4,401 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | Commercial non real estate | 8 | 313 | 1 | 1,067 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Number of | Recorded | Number of | Recorded | Agriculture | 2 | 935 | 6 | 5,739 | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Investment | Loans | Investment | Consumer | 1 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | 6 | $ | 522 | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 1 | 95 | 2 | 6,296 | 22 | $ | 1,667 | 19 | $ | 11,854 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 1 | 15 | 1 | 3,676 | The majority of loans that were modified and subsequently became 90 days or more delinquent have remained on nonaccrual status since the time of modification. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
8 | $ | 632 | 3 | $ | 9,972 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The majority of loans that were modified and subsequently became 90 days or more delinquent have remained on nonaccrual status since the time of modification. |
Allowance_for_Loan_Losses
Allowance for Loan Losses | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | 6. Allowance for Loan Losses | 5. Allowance for Loan Losses | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the Company’s allowance for loan losses roll forward and respective loan balances for the three month period ended December 31, 2014 and 2013. This table (in thousands) is presented net of unamortized discount on acquired loans and excludes loans measured at fair value with changes in fair value reported in earnings of $1,023.3 million, loans held for sale of $9.4 million, and guaranteed loans of $101.9 million for December 31, 2014 and loans measured at fair value with changes in fair value reported in earnings of $985.4 million, loans held for sale of $10.4 million, and guaranteed loans of $106.5 million for September 30, 2014. | The following table presents the Company’s allowance for loan losses roll forward and respective loan balances for 2014 and 2013. This table (in thousands) is presented net of unamortized discount on acquired loans and excludes loans measured at fair value with changes in fair value reported in earnings of $985.41 million, loans held for sale of $10.38 million, and guaranteed loans of $106.46 million for 2014 and loans measured at fair value with changes in fair value reported in earnings of $841.86 million, loans held for sale of $8.27 million, and guaranteed loans of $104.04 million for 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | Residential | Commercial | Commercial Non | Agriculture | Consumer | Other | Total | As of September 30, 2014 | Residential | Commercial | Commercial | Agriculture | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Real Estate | Real Estate | Non Real | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance October 1, 2014 | $ | 8,342 | $ | 16,884 | $ | 10,550 | $ | 10,655 | $ | 264 | $ | 823 | $ | 47,518 | Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||
Charge-offs | (57 | ) | (82 | ) | (84 | ) | — | (38 | ) | (428 | ) | (689 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Recoveries | 43 | 69 | 1,160 | 57 | 24 | 319 | 1,672 | Beginning balance October 1, 2013 | $ | 11,779 | $ | 22,562 | $ | 11,222 | $ | 9,296 | $ | 312 | $ | 693 | $ | 55,864 | ||||||||||||||||||||||||||||||||||||
Provision | (350 | ) | 735 | 2,999 | 208 | (24 | ) | 71 | 3,639 | Charge-offs | (631 | ) | (3,199 | ) | (5,380 | ) | (2,429 | ) | (211 | ) | (1,893 | ) | (13,743 | ) | ||||||||||||||||||||||||||||||||||
Impairment of loans acquired with deteriorated credit quality | (411 | ) | 116 | — | — | (25 | ) | — | (320 | ) | Recoveries | 233 | 1,470 | 1,439 | 58 | 156 | 1,357 | 4,713 | ||||||||||||||||||||||||||||||||||||||||
Provision | (788 | ) | (4,114 | ) | 4,980 | 3,730 | (18 | ) | 666 | 4,456 | ||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance December 31, 2014 | $ | 7,567 | $ | 17,722 | $ | 14,625 | $ | 10,920 | $ | 201 | $ | 785 | $ | 51,820 | Impairment of loans acquired with deteriorated credit quality | (2,251 | ) | 165 | (1,711 | ) | — | 25 | — | (3,772 | ) | |||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 2,418 | $ | 2,783 | $ | 8,816 | $ | 948 | $ | 42 | $ | — | $ | 15,007 | Ending balance September 30, 2014 | $ | 8,342 | $ | 16,884 | $ | 10,550 | $ | 10,655 | $ | 264 | $ | 823 | $ | 47,518 | |||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 2,776 | $ | 11,986 | $ | 5,809 | $ | 9,972 | $ | 159 | $ | 785 | $ | 31,487 | Ending balance: individually evaluated for impairment | $ | 2,528 | $ | 1,953 | $ | 3,909 | $ | 1,152 | $ | 51 | $ | — | $ | 9,593 | |||||||||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 2,373 | $ | 761 | $ | — | $ | — | $ | — | $ | — | $ | 3,134 | Ending balance: collectively evaluated for impairment | $ | 3,030 | $ | 12,034 | $ | 6,641 | $ | 9,503 | $ | 188 | $ | 823 | $ | 32,219 | |||||||||||||||||||||||||||||
Ending balance: loans acquired without deteriorated credit quality | $ | — | $ | 2,192 | $ | — | $ | — | $ | — | $ | — | $ | 2,192 | Ending balance: loans acquired with deteriorated credit quality | $ | 2,784 | $ | 645 | $ | — | $ | — | $ | 25 | $ | — | $ | 3,454 | |||||||||||||||||||||||||||||
Financing receivables | Ending balance: loans acquired without deteriorated credit quality | $ | — | $ | 2,252 | $ | — | $ | — | $ | — | $ | — | $ | 2,252 | |||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 890,085 | $ | 2,291,220 | $ | 1,088,065 | $ | 1,468,565 | $ | 85,721 | $ | 35,311 | $ | 5,858,967 | ||||||||||||||||||||||||||||||||||||||||||||
Financing receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 9,592 | $ | 66,049 | $ | 37,961 | $ | 23,743 | $ | 142 | $ | — | $ | 137,487 | Ending balance | $ | 879,971 | $ | 2,057,456 | $ | 1,266,103 | $ | 1,364,399 | $ | 89,899 | $ | 34,243 | $ | 5,692,071 | |||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 671,566 | $ | 2,113,647 | $ | 1,038,540 | $ | 1,422,861 | $ | 81,525 | $ | 35,311 | $ | 5,363,450 | Ending balance: individually evaluated for impairment | $ | 9,384 | $ | 38,457 | $ | 28,298 | $ | 25,655 | $ | 166 | $ | — | $ | 101,960 | |||||||||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 97,779 | $ | 28,768 | $ | 4,817 | $ | 1,623 | $ | 1,734 | $ | — | $ | 134,721 | Ending balance: collectively evaluated for impairment | $ | 649,970 | $ | 1,874,474 | $ | 1,224,035 | $ | 1,319,343 | $ | 85,065 | $ | 34,243 | $ | 5,187,130 | |||||||||||||||||||||||||||||
Ending balance: loans acquired without deteriorated credit quality | $ | 111,148 | $ | 82,756 | $ | 6,747 | $ | 20,338 | $ | 2,320 | $ | — | $ | 223,309 | Ending balance: loans acquired with deteriorated credit quality | $ | 102,987 | $ | 49,202 | $ | 6,361 | $ | 1,746 | $ | 1,843 | $ | — | $ | 162,139 | |||||||||||||||||||||||||||||
Ending balance: loans acquired without deteriorated credit quality | $ | 117,630 | $ | 95,323 | $ | 7,409 | $ | 17,655 | $ | 2,825 | $ | — | $ | 240,842 | ||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | Residential | Commercial | Commercial Non | Agricultural | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | As of September 30, 2013 | Residential | Commercial | Commercial | Agricultural | Consumer | Other | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance October 1, 2013 | $ | 11,779 | $ | 22,562 | $ | 11,222 | $ | 9,296 | $ | 312 | $ | 693 | $ | 55,864 | Real Estate | Real Estate | Non Real | |||||||||||||||||||||||||||||||||||||||||
Charge-offs | (230 | ) | — | (161 | ) | — | (56 | ) | (470 | ) | (917 | ) | Estate | |||||||||||||||||||||||||||||||||||||||||||||
Recoveries | 75 | 591 | 887 | 17 | 36 | 391 | 1,997 | Allowance for loan losses | ||||||||||||||||||||||||||||||||||||||||||||||||||
Provision | 230 | (861 | ) | (646 | ) | (57 | ) | 98 | 111 | (1,125 | ) | |||||||||||||||||||||||||||||||||||||||||||||||
Impairment of loans acquired with deteriorated credit quality | — | — | 250 | — | — | — | 250 | Beginning balance October 1, 2012 | $ | 14,761 | $ | 30,234 | $ | 18,979 | $ | 6,906 | $ | 542 | $ | 456 | $ | 71,878 | ||||||||||||||||||||||||||||||||||||
Charge-offs | (1,766 | ) | (19,648 | ) | (3,636 | ) | (4,069 | ) | (244 | ) | (1,851 | ) | (31,214 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance December 31, 2013 | $ | 11,854 | $ | 22,292 | $ | 11,552 | $ | 9,256 | $ | 390 | $ | 725 | $ | 56,069 | Recoveries | 279 | 689 | 1,206 | 22 | 396 | 1,034 | 3,626 | ||||||||||||||||||||||||||||||||||||
Provision | 1,043 | 10,925 | (5,427 | ) | 6,437 | (382 | ) | 1,054 | 13,650 | |||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 3,128 | $ | 5,355 | $ | 6,227 | $ | 2,724 | $ | 167 | $ | — | $ | 17,601 | Impairment of loans acquired with deteriorated credit quality | (2,538 | ) | 362 | 100 | — | — | — | (2,076 | ) | ||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 3,691 | $ | 16,207 | $ | 3,614 | $ | 6,532 | $ | 223 | $ | 725 | $ | 30,992 | Ending balance September 30, 2013 | $ | 11,779 | $ | 22,562 | $ | 11,222 | $ | 9,296 | $ | 312 | $ | 693 | $ | 55,864 | |||||||||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 5,035 | $ | 730 | $ | 1,711 | $ | — | $ | — | $ | — | $ | 7,476 | Ending balance: individually evaluated for impairment | $ | 3,212 | $ | 5,095 | $ | 5,594 | $ | 3,016 | $ | 90 | $ | — | $ | 17,007 | |||||||||||||||||||||||||||||
Ending balance: loans acquired without deteriorated credit quality | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | Ending balance: collectively evaluated for impairment | $ | 3,533 | $ | 16,986 | $ | 3,897 | $ | 6,280 | $ | 222 | $ | 693 | $ | 31,611 | |||||||||||||||||||||||||||||
Financing receivables | Ending balance: loans acquired with deteriorated credit quality | $ | 5,034 | $ | 481 | $ | 1,731 | $ | — | $ | — | $ | — | $ | 7,246 | |||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 890,073 | $ | 2,299,661 | $ | 1,079,956 | $ | 1,466,851 | $ | 85,721 | $ | 35,311 | $ | 5,857,573 | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance: loans acquired without deteriorated credit quality | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 10,037 | $ | 68,973 | $ | 31,299 | $ | 22,666 | $ | 582 | $ | — | $ | 133,557 | ||||||||||||||||||||||||||||||||||||||||||||
Financing receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 611,785 | $ | 2,019,099 | $ | 1,025,543 | $ | 1,412,871 | $ | 77,315 | $ | 35,311 | $ | 5,181,924 | Ending balance | $ | 885,245 | $ | 1,926,828 | $ | 1,191,500 | $ | 1,295,661 | $ | 100,803 | $ | 24,711 | $ | 5,424,748 | |||||||||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 122,068 | $ | 80,903 | $ | 6,833 | $ | — | $ | 2,646 | $ | — | $ | 212,450 | Ending balance: individually evaluated for impairment | $ | 8,917 | $ | 77,620 | $ | 27,527 | $ | 23,719 | $ | 292 | $ | — | $ | 138,075 | |||||||||||||||||||||||||||||
Ending balance: loans acquired without deteriorated credit quality | $ | 146,183 | $ | 130,686 | $ | 16,281 | $ | 31,314 | $ | 5,178 | $ | — | $ | 329,642 | Ending balance: collectively evaluated for impairment | $ | 589,104 | $ | 1,623,274 | $ | 1,136,611 | $ | 1,240,281 | $ | 91,178 | $ | 24,711 | $ | 4,705,159 | |||||||||||||||||||||||||||||
The reserve for unfunded loan commitments was $0.4 million at both December 31, 2014 and September 30, 2014. | Ending balance: loans acquired with deteriorated credit quality | $ | 129,905 | $ | 85,022 | $ | 8,179 | $ | — | $ | 3,202 | $ | — | $ | 226,308 | |||||||||||||||||||||||||||||||||||||||||||
Ending balance: loans acquired without deteriorated credit quality | $ | 157,319 | $ | 140,912 | $ | 19,183 | $ | 31,661 | $ | 6,131 | $ | — | $ | 355,206 | ||||||||||||||||||||||||||||||||||||||||||||
The reserve for unfunded loan commitments was $0.4 million at both September 30, 2014 and 2013. |
Accounting_for_Certain_Loans_A
Accounting for Certain Loans Acquired with Deteriorated Credit Quality | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||
Accounting for Certain Loans Acquired with Deteriorated Credit Quality | 7. Accounting for Certain Loans Acquired with Deteriorated Credit Quality | 6. Accounting for Certain Loans Acquired with Deteriorated Credit Quality | ||||||||||||||||||||||||||||||||||||||||||||||||
In June 2010, the Company acquired certain loans that had deteriorated credit quality. Loan accounting specific to these purchased impaired loans addresses differences between contractual cash flows expected to be collected from the initial investment in loans if those differences are attributable, at least in part, to credit quality. Several factors were considered when evaluating whether a loan was considered a purchased impaired loan, including the delinquency status of the loan, updated borrower credit status, geographic information, and updated loan-to-values (“LTV”). U.S. GAAP allows purchasers to aggregate purchased impaired loans acquired in the same fiscal quarter in one or more pools, provided that the loans have common risk characteristics. A pool is then accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. | In June 2010, the Company acquired certain loans that had deteriorated credit quality. Loan accounting specific to these purchased impaired loans addresses differences between contractual cash flows expected to be collected from the initial investment in loans if those differences are attributable, at least in part, to credit quality. Several factors were considered when evaluating whether a loan was considered a purchased impaired loan, including the delinquency status of the loan, updated borrower credit status, geographic information, and updated loan-to-values (“LTV”). U.S. GAAP allows purchasers to aggregate purchased impaired loans acquired in the same fiscal quarter in one or more pools, provided that the loans have common risk characteristics. A pool is then accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. | |||||||||||||||||||||||||||||||||||||||||||||||||
Loan pools are periodically reassessed to determine expected cash flows. In determining the expected cash flows, the timing of cash flows and prepayment assumptions for smaller, homogenous loans are based on statistical models that take into account factors such as the loan interest rate, credit profile of the borrowers, the years in which the loans were originated, and whether the loans are fixed or variable rate loans. Prepayments may be assumed on large individual loans that consider similar prepayment factors listed above for smaller homogenous loans. The re-assessment of purchased impaired loans resulted in the following changes in the accretable yield during the three months ended December 31, 2014 and 2013 (in thousands): | Loan pools are periodically reassessed to determine expected cash flows. In determining the expected cash flows, the timing of cash flows and prepayment assumptions for smaller, homogenous loans are based on statistical models that take into account factors such as the loan interest rate, credit profile of the borrowers, the years in which the loans were originated, and whether the loans are fixed or variable rate loans. Prepayments may be assumed on large individual loans that consider similar prepayment factors listed above for smaller homogenous loans. The re-assessment of purchased impaired loans resulted in the following changes in the accretable yield during 2014 and 2013 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at September 30, 2014 | $ | 50,889 | Balance at September 30, 2012 | $ | 93,859 | |||||||||||||||||||||||||||||||||||||||||||||
Accretion | (4,787 | ) | Accretion | (29,674 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Reclassification from nonaccretable difference | 320 | Reclassification from nonaccretable difference | 6,815 | |||||||||||||||||||||||||||||||||||||||||||||||
Disposals | (80 | ) | Disposals | (3,340 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2014 | 46,342 | Balance at September 30, 2013 | 67,660 | |||||||||||||||||||||||||||||||||||||||||||||||
Accretion | (18,204 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at September 30, 2013 | $ | 67,660 | Reclassification from nonaccretable difference | 6,252 | ||||||||||||||||||||||||||||||||||||||||||||||
Accretion | (4,430 | ) | Disposals | (4,819 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Reclassification from nonaccretable difference | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Disposals | (4,819 | ) | Balance at September 30, 2014 | $ | 50,889 | |||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 58,411 | The reclassifications from nonaccretable difference noted in the table above represent instances where specific pools of loans are expected to perform better over the remaining lives of the loans than expected at the prior re-assessment date. | |||||||||||||||||||||||||||||||||||||||||||||||
The following table provides purchased impaired loans at September 30, 2014 and September 30, 2013 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||
The reclassifications from nonaccretable difference noted in the table above represent instances where specific pools of loans are expected to perform better over the remaining lives of the loans than expected at the prior re-assessment date. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides purchased impaired loans at December 31, 2014 and September 30, 2014 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding | Recorded | Carrying | Outstanding | Recorded | Carrying | |||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | September 30, 2014 | Balance1 | Investment2 | Value3 | Balance1 | Investment2 | Value3 | |||||||||||||||||||||||||||||||||||||||||||
Outstanding | Recorded | Carrying Value3 | Outstanding | Recorded | Carrying Value3 | Residential real estate | $ | 115,863 | $ | 102,987 | $ | 100,203 | $ | 143,998 | $ | 129,905 | $ | 124,871 | ||||||||||||||||||||||||||||||||
Balance1 | Investment2 | Balance1 | Investment2 | Commercial real estate | 130,825 | 49,202 | 48,557 | 172,706 | 85,022 | 84,541 | ||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 110,493 | $ | 97,779 | $ | 95,406 | $ | 115,863 | $ | 102,987 | $ | 100,203 | Commercial non real estate | 16,697 | 6,361 | 6,361 | 19,539 | 8,179 | 6,448 | |||||||||||||||||||||||||||||||
Commercial real estate | 107,514 | 28,768 | 28,007 | 130,825 | 49,202 | 48,557 | Agriculture | 1,747 | 1,746 | 1,746 | — | — | — | |||||||||||||||||||||||||||||||||||||
Commercial non real estate | 14,710 | 4,817 | 4,817 | 16,697 | 6,361 | 6,361 | Consumer | 2,019 | 1,843 | 1,818 | 3,721 | 3,202 | 3,202 | |||||||||||||||||||||||||||||||||||||
Agriculture | 1,622 | 1,623 | 1,623 | 1,747 | 1,746 | 1,746 | ||||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,838 | 1,734 | 1,734 | 2,019 | 1,843 | 1,818 | Total lending | $ | 267,151 | $ | 162,139 | $ | 158,685 | $ | 339,964 | $ | 226,308 | $ | 219,062 | |||||||||||||||||||||||||||||||
Total lending | $ | 236,177 | $ | 134,721 | $ | 131,587 | $ | 267,151 | $ | 162,139 | $ | 158,685 | ||||||||||||||||||||||||||||||||||||||
1 | Represents the legal balance of loans acquired with deteriorated credit quality. | |||||||||||||||||||||||||||||||||||||||||||||||||
2 | Represents the book balance of loans acquired with deteriorated credit quality. | |||||||||||||||||||||||||||||||||||||||||||||||||
1 | Represents the legal balance of loans acquired with deteriorated credit quality. | 3 | Represents the book balance of loans acquired with deteriorated credit quality net of the related allowance for loan losses. | |||||||||||||||||||||||||||||||||||||||||||||||
2 | Represents the book balance of loans acquired with deteriorated credit quality. | |||||||||||||||||||||||||||||||||||||||||||||||||
3 | Represents the book balance of loans acquired with deteriorated credit quality net of the related allowance for loan losses. | Due to improved cash flows of the purchased impaired loans, the reductions to allowance recognized on previous impairments were $4.48 million and $4.58 million for the years ended September 30, 2014 and 2013, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||||
Due to improved cash flows of the purchased impaired loans, the reductions to allowance recognized on previous impairments were $0 and $0.5 million for the three months ended December 31, 2014 and 2013, respectively. |
FDIC_Indemnification_Asset
FDIC Indemnification Asset | 3 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||
Text Block [Abstract] | ||||||||||||||||||
FDIC Indemnification Asset | 8. FDIC Indemnification Asset | 7. FDIC Indemnification Asset | ||||||||||||||||
Under the terms of the purchase and assumption agreement with the FDIC with regard to the TierOne Bank acquisition, the Company is reimbursed for a portion of the losses incurred on covered assets. As covered assets are resolved, whether it be through repayment, short sale of the underlying collateral, the foreclosure on or sale of collateral, or the sale or charge-off of loans or OREO, any differences between the carrying value of the covered assets versus the payments received during the resolution process, that are reimbursable by the FDIC, are recognized as reductions in the FDIC indemnification asset. Any gains or losses realized from the resolution of covered assets reduce or increase, respectively, the amount recoverable from the FDIC. The following table represents a summary of the activity related to the FDIC indemnification asset for the three months ended December 2014 and 2013 (in thousands): | Under the terms of the purchase and assumption agreement with the FDIC with regard to the TierOne Bank acquisition, the Company is reimbursed for a portion of the losses incurred on covered assets. As covered assets are resolved, whether it be through repayment, short sale of the underlying collateral, the foreclosure on or sale of collateral, or the sale or charge-off of loans or OREO, any differences between the carrying value of the covered assets versus the payments received during the resolution process, that are reimbursable by the FDIC, are recognized as reductions in the FDIC indemnification asset. Any gains or losses realized from the resolution of covered assets reduce or increase, respectively, the amount recoverable from the FDIC. The following table represents a summary of the activity related to the FDIC indemnification asset for the years ended September 2014 and 2013 (in thousands): | |||||||||||||||||
Three Months Ended | 2014 | 2013 | ||||||||||||||||
December 31, | Balance at beginning of year | $ | 45,690 | $ | 68,662 | |||||||||||||
2014 | 2013 | Amortization | (14,604 | ) | (14,758 | ) | ||||||||||||
Balance at beginning of year | $ | 26,678 | $ | 45,690 | Changes in expected reimbursements from FDIC for changes in expected credit losses | 2,148 | 522 | |||||||||||
Amortization | (2,534 | ) | (3,285 | ) | Changes in reimbursable expenses | 2,358 | (3,453 | ) | ||||||||||
Changes in expected reimbursements from FDIC for changes in expected credit losses | (191 | ) | (26 | ) | Payments to/(from) the FDIC | (8,914 | ) | (5,283 | ) | |||||||||
Changes in reimbursable expenses | (156 | ) | 10 | |||||||||||||||
Payments to/(from) the FDIC | (1,635 | ) | (633 | ) | Balance at end of year | $ | 26,678 | $ | 45,690 | |||||||||
Balance at end of year | $ | 22,162 | $ | 41,756 | The loss claims filed are subject to review, approval, and annual audits by the FDIC or its assigned agents for compliance with the terms in the loss sharing agreements. | |||||||||||||
The loss claims filed are subject to review, approval, and annual audits by the FDIC or its assigned agents for compliance with the terms in the loss sharing agreements. |
Premises_and_Equipment
Premises and Equipment | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Premises and Equipment | 8. Premises and Equipment | ||||||||
The major classes of premises and equipment and the total amount of accumulated depreciation as of September 30, 2014 and 2013, are as follows (in thousands): | |||||||||
2014 | 2013 | ||||||||
Land | $ | 22,539 | $ | 23,238 | |||||
Buildings and building improvements | 85,370 | 88,171 | |||||||
Furniture and equipment | 32,117 | 42,721 | |||||||
Construction in progress | 144 | 55 | |||||||
140,170 | 154,185 | ||||||||
Accumulated depreciation | (36,463 | ) | (39,805 | ) | |||||
$ | 103,707 | $ | 114,380 | ||||||
Depreciation expense was $9.64 million, $10.70 million and $9.58 million for the years ended September 30, 2014, 2013 and 2012, respectively. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | 9. Derivative Financial Instruments | 9. Derivative Financial Instruments | ||||||||||||||||||||||||||||||||||||||||
In the normal course of business, the Company uses interest rate swaps to manage its interest rate risk and market risk in accommodating the needs of its customers. Also, the Company enters into interest rate lock commitments on mortgage loans to be held for sale, with corresponding forward sales contracts related to these interest rate lock commitments. | In the normal course of business, the Company uses interest rate swaps to manage its interest rate risk and market risk in accommodating the needs of its customers. Also, the Company enters into interest rate lock commitments on mortgage loans to be held for sale, with corresponding forward sales contracts related to these interest rate lock commitments. | |||||||||||||||||||||||||||||||||||||||||
Derivative instruments are recognized as either assets or liabilities in the accompanying consolidated financial statements and are measured at fair value. | Derivative instruments are recognized as either assets or liabilities in the accompanying consolidated financial statements and are measured at fair value. | |||||||||||||||||||||||||||||||||||||||||
The following table summarizes the notional amounts and estimated fair values of the Company’s derivative instruments at December 31, 2014 and September 30, 2014 (in thousands). | The following table summarizes the notional amounts and estimated fair values of the Company’s derivative instruments at September 30, 2014 and 2013 (in thousands). | |||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | 2014 | |||||||||||||||||||||||||||||||||||||||||
Notional | Balance | Positive | Negative | Notional | Balance Sheet | Positive Fair | Negative Fair | |||||||||||||||||||||||||||||||||||
Amount | Sheet | Fair | Fair | Amount | Location | Value | Value | |||||||||||||||||||||||||||||||||||
Location | Value | Value | Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | Interest rate swaps | $ | 986,440 | Liabilities | $ | 6,213 | $ | (19,286 | ) | |||||||||||||||||||||||||||||||||
Interest rate swaps | $ | 1,018,809 | Liabilities | $ | 1,118 | $ | (33,513 | ) | Mortgage loan commitments | 22,563 | Assets | 19 | — | |||||||||||||||||||||||||||||
Mortgage loan commitments | 31,834 | Assets | 14 | — | Mortgage loan forward sale contracts | 28,459 | Liabilities | — | (19 | ) | ||||||||||||||||||||||||||||||||
Mortgage loan forward sale contracts | 36,004 | Liabilities | — | (14 | ) | |||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | Notional | Balance Sheet | Positive Fair | Negative Fair | ||||||||||||||||||||||||||||||||||||||
Notional | Balance | Positive | Negative | Amount | Location | Value | Value | |||||||||||||||||||||||||||||||||||
Amount | Sheet | Fair | Fair | Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||||||||||||||
Location | Value | Value | Interest rate swaps | $ | 864,040 | Liabilities | $ | 12,404 | $ | (13,555 | ) | |||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | Mortgage loan commitments | 16,040 | Assets | 375 | — | |||||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | 986,440 | Liabilities | $ | 6,213 | $ | (19,286 | ) | Mortgage loan forward sale contracts | 21,881 | Liabilities | — | (375 | ) | ||||||||||||||||||||||||||||
Mortgage loan commitments | 22,563 | Assets | 19 | — | As with any financial instrument, derivative financial instruments have inherent risk including adverse changes in interest rates. The Company’s exposure to derivative credit risk is defined as the possibility of sustaining a loss due to the failure of the counterparty to perform in accordance with the terms of the contract. Credit risk associated with interest rate swaps is similar to those relating to traditional on-balance sheet financial instruments. The Company manages interest rate swap credit risk with the same standards and procedures applied to its commercial lending activities. Amounts due from NAB to reclaim cash collateral under the interest rate swap master netting arrangements have not been offset against the derivative balances. These receivables are classified on the consolidated balance sheets as cash and were $0 as of September 30, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||||
Mortgage loan forward sale contracts | 28,459 | Liabilities | — | (19 | ) | The effect of derivatives on the consolidated statements of comprehensive income for the years ended September 30, 2014, 2013 and 2012 (in thousands) was as follows: | ||||||||||||||||||||||||||||||||||||
As with any financial instrument, derivative financial instruments have inherent risk including adverse changes in interest rates. The Company’s exposure to derivative credit risk is defined as the possibility of sustaining a loss due to the failure of the counterparty to perform in accordance with the terms of the contract. Credit risks associated with interest rate swaps is similar to those relating to traditional on-balance sheet financial instruments. The Company manages interest rate swap credit risk with the same standards and procedures applied to its commercial lending activities. Amounts due from NAB to reclaim cash collateral under the interest rate swap master netting arrangements have not been offset against the derivative balances. These receivables are classified on the consolidated balance sheets as cash and were $0 as of December 31, 2014 and September 30, 2014, respectively. | ||||||||||||||||||||||||||||||||||||||||||
The effect of derivatives on the consolidated statements of comprehensive income for the three months ended December 31, 2014 and 2013 (in thousands) was as follows: | ||||||||||||||||||||||||||||||||||||||||||
Location of | Amount of Gain (Loss) Recognized | |||||||||||||||||||||||||||||||||||||||||
Gain (Loss) Recognized in | in Income | |||||||||||||||||||||||||||||||||||||||||
Location of | Amount of Gain (Loss) | Income | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||
Gain (Loss) | Recognized in Income | Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||||||||||||||||
Recognized in Income | December 31, | December 31, | Interest rate swaps | Noninterest income | $ | (11,922 | ) | $ | 40,305 | $ | (19,369 | ) | ||||||||||||||||||||||||||||||
2014 | 2013 | Mortgage loan commitments | Noninterest income | 19 | 375 | (1,661 | ) | |||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | Mortgage loan forward sale contracts | Noninterest income | (19 | ) | (375 | ) | 1,661 | |||||||||||||||||||||||||||||||||||
Interest rate swaps | Noninterest income | $ | (24,605 | ) | $ | 4,837 | ||||||||||||||||||||||||||||||||||||
Mortgage loan commitments | Noninterest income | 14 | 3 | Netting of Derivatives | ||||||||||||||||||||||||||||||||||||||
Mortgage loan forward sale contracts | Noninterest income | (14 | ) | (3 | ) | The Company has various financial assets and financial liabilities that are subject to enforceable master netting agreements or similar agreements. The Company has entered into an ISDA master netting arrangement with NAB. Under the terms of the master netting arrangements, all transactions between the Company and the counterparty constitute a single business relationship such that in the event of default, the non-defaulting party is entitled to set off claims and apply property held by that party in respect of any transaction against obligations owed. Any payments, deliveries, or other transfers may be applied against each other and netted. | ||||||||||||||||||||||||||||||||||||
Netting of Derivatives | The table below shows total gross derivative assets and liabilities which are adjusted on an aggregate basis, where applicable to take into consideration the effects of legally enforceable master netting agreements for the net reported amount in the consolidated balance sheets. These amounts are offset on the consolidated balance sheets. | |||||||||||||||||||||||||||||||||||||||||
The Company has various financial assets and financial liabilities that are subject to enforceable master netting agreements or similar agreements. The Company has entered into an ISDA master netting arrangement with NAB. Under the terms of the master netting arrangements, all transactions between the Company and the counterparty constitute a single business relationship such that in the event of default, the non-defaulting party is entitled to set off claims and apply property held by that party in respect of any transaction against obligations owed. Any payments, deliveries, or other transfers may be applied against each other and netted. | The following tables (in thousands) present the Company’s gross derivative financial assets and liabilities at September 30, 2014 and 2013, and the related impact of enforceable master netting arrangements and cash collateral, where applicable: | |||||||||||||||||||||||||||||||||||||||||
The table below shows total gross derivative assets and liabilities which are adjusted on an aggregate basis, where applicable to take into consideration the effects of legally enforceable master netting agreements for the net reported amount in the consolidated balance sheets. These amounts are offset on the consolidated balance sheets. | ||||||||||||||||||||||||||||||||||||||||||
The following tables (in thousands) present the Company’s gross derivative financial assets and liabilities at December 31, 2014 and September 30, 2014, and the related impact of enforceable master netting arrangements and cash collateral, where applicable: | Gross | Amount | Net Amount | Held/Pledged | Net | |||||||||||||||||||||||||||||||||||||
Amount | Offset | Presented in | Financial | Amount | ||||||||||||||||||||||||||||||||||||||
Consolidated | Instruments1 | |||||||||||||||||||||||||||||||||||||||||
Gross | Amount | Net Amount | Held/ | Net | Balance Sheets | |||||||||||||||||||||||||||||||||||||
Amount | Offset | Presented in | Pledged | Amount | September 30, 2014 | |||||||||||||||||||||||||||||||||||||
Consolidated | Financial | Derivative financial assets: | ||||||||||||||||||||||||||||||||||||||||
Balance | Instruments1 | Derivatives subject to master netting arrangement or similar arrangement | $ | 6,213 | $ | (6,213 | ) | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||
Sheets | Derivative financial liabilities: | |||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | Derivatives subject to master netting arrangement or similar arrangement | (19,286 | ) | 6,213 | (13,073 | ) | 13,073 | — | ||||||||||||||||||||||||||||||||||
Derivative financial assets: | ||||||||||||||||||||||||||||||||||||||||||
Derivatives subject to master netting arrangement or similar arrangement | $ | 1,118 | $ | (1,118 | ) | $ | — | $ | — | $ | — | Total derivative financial liabilities | $ | (13,073 | ) | $ | — | $ | (13,073 | ) | $ | 13,073 | $ | — | ||||||||||||||||||
Derivative financial liabilities: | ||||||||||||||||||||||||||||||||||||||||||
Derivatives subject to master netting arrangement or similar arrangement | (33,513 | ) | 1,118 | (32,395 | ) | 32,395 | — | |||||||||||||||||||||||||||||||||||
1 | The actual amount of collateral exceeds the fair value exposure, at the individual counterparty level, as of the date presented. | |||||||||||||||||||||||||||||||||||||||||
Total derivative financial liabilities | $ | (32,395 | ) | $ | — | $ | (32,395 | ) | $ | 32,395 | $ | — | ||||||||||||||||||||||||||||||
Gross | Amount | Net Amount | Held/Pledged | Net | ||||||||||||||||||||||||||||||||||||||
1 | The actual amount of collateral exceeds the fair value exposure, at the individual counterparty level, as of the date presented. | Amount | Offset | Presented in | Financial | Amount | ||||||||||||||||||||||||||||||||||||
Consolidated | Instruments | |||||||||||||||||||||||||||||||||||||||||
Balance Sheets | ||||||||||||||||||||||||||||||||||||||||||
Gross | Amount | Net Amount | Held/ | Net | September 30, 2013 | |||||||||||||||||||||||||||||||||||||
Amount | Offset | Presented in | Pledged | Amount | Derivative financial assets: | |||||||||||||||||||||||||||||||||||||
Consolidated | Financial | Derivatives subject to master netting arrangement or similar arrangement | $ | 12,404 | $ | (12,404 | ) | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||
Balance | Instruments | Derivative financial liabilities: | ||||||||||||||||||||||||||||||||||||||||
Sheets | Derivatives subject to master netting arrangement or similar arrangement | (13,555 | ) | 12,404 | (1,151 | ) | — | (1,151 | ) | |||||||||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||
Derivative financial assets: | Total derivative financial liabilities | $ | (1,151 | ) | $ | — | $ | (1,151 | ) | $ | — | $ | (1,151 | ) | ||||||||||||||||||||||||||||
Derivatives subject to master netting arrangement or similar arrangement | $ | 6,213 | $ | (6,213 | ) | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||
Derivative financial liabilities: | ||||||||||||||||||||||||||||||||||||||||||
Derivatives subject to master netting arrangement or similar arrangement | (19,286 | ) | 6,213 | (13,073 | ) | 13,073 | — | |||||||||||||||||||||||||||||||||||
Total derivative financial liabilities | $ | (13,073 | ) | $ | — | $ | (13,073 | ) | $ | 13,073 | $ | — | ||||||||||||||||||||||||||||||
The_Fair_Value_Option
The Fair Value Option | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||
The Fair Value Option | 10. The Fair Value Option | 10. The Fair Value Option | ||||||||||||||||||||||||||||||||||||||||
The Company has elected to measure certain long-term loans and written loan commitments at fair value to assist in managing the interest rate risk for longer-term loans. This fair value option was elected upon the origination of these loans. Interest income is recognized in the same manner as interest on non-fair value loans. | The Company has elected to measure certain long-term loans and written loan commitments at fair value to assist in managing the interest rate risk for longer-term loans. This fair value option was elected upon the origination of these loans. Interest income is recognized in the same manner as interest on non-fair value loans. | |||||||||||||||||||||||||||||||||||||||||
See Note 17 for additional disclosures regarding the fair value of the fair value option loans and written loan commitments. | ||||||||||||||||||||||||||||||||||||||||||
Long-term loans and written loan commitments for which the fair value option has been elected had a net favorable difference between the aggregate fair value and the aggregate unpaid loan principal balance and written loan commitment amount of approximately $28.1 million and $7.1 million at December 31, 2014 and September 30, 2014, respectively. The total unpaid principal balance of these long-term loans was approximately $995.2 million and $978.3 million at December 31, 2014 and September 30, 2014, respectively. The fair value of these loans and written loan commitments is included in total loans in the consolidated balance sheets and are grouped with commercial non real estate, commercial real estate, and agricultural loans in Note 5. The fair value of these written loan commitments was not material at December 31, 2014 and September 30, 2014, respectively. None of the noted loans were greater than 90 days past due or in nonaccrual status as of December 31, 2014 or September 30, 2014. | See Note 22 for additional disclosures regarding the fair value of the fair value option loans and written loan commitments. | |||||||||||||||||||||||||||||||||||||||||
Changes in fair value for items for which the fair value option has been elected and the line items in which these changes are reported are as follows for the three months ended December 31, 2014 and 2013 (in thousands): | Long-term loans and written loan commitments for which the fair value option has been elected had a net favorable difference between the aggregate fair value and the aggregate unpaid loan principal balance and written loan commitment amount of approximately $7.07 million and a net unfavorable amount of approximately $4.83 million at September 30, 2014 and 2013, respectively. The total unpaid principal balance of these long-term loans was approximately $978.34 million and $846.69 million at September 30, 2014 and 2013, respectively. The fair value of these loans and written loan commitments is included in total loans in the consolidated balance sheets and are grouped with commercial non real estate, commercial real estate, and agricultural loans in Note 4. The fair value of these written loan commitments was not material at September 30, 2014 and 2013, respectively. None of the noted loans were greater than 90 days past due or in nonaccrual status as of September 30, 2014 or 2013. | |||||||||||||||||||||||||||||||||||||||||
Changes in fair value for items for which the fair value option has been elected and the line items in which these changes are reported are as follows for the years ended September 30, 2014, 2013 and 2012 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||
Noninterest | Total Changes | Noninterest | Total Changes | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Income | in Fair Value | Income | in Fair Value | Noninterest | Total Changes | Noninterest | Total Changes | Noninterest | Total Changes | |||||||||||||||||||||||||||||||||
Long-term loans and written loan commitments | $ | 17,100 | $ | 17,100 | $ | (9,110 | ) | $ | (9,110 | ) | Income | in Fair Value | Income | in Fair Value | Income | in Fair Value | ||||||||||||||||||||||||||
For long-term loans and written loan commitments at December 31, 2014 and 2013, approximately $1.7 million and $0, respectively, of the total change in fair value is attributable to changes in specific credit risk. The gains or losses attributable to changes in instrument-specific credit risk were determined based on an assessment of existing market conditions and credit quality of the underlying loan for the specific portfolio of loans. | Long-term loans and written loan commitments | $ | 11,904 | $ | 11,904 | $ | (41,160 | ) | $ | (41,160 | ) | $ | 15,093 | $ | 15,093 | |||||||||||||||||||||||||||
For long-term loans and written loan commitments at September 30, 2014, 2013 and 2012, approximately $(0.02) million, $(0.85) million and $(4.27) million, respectively, of the total change in fair value is attributable to changes in specific credit risk. The gains or losses attributable to changes in instrument-specific credit risk were determined based on an assessment of existing market conditions and credit quality of the underlying loan for the specific portfolio of loans. |
Goodwill
Goodwill | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||
Goodwill | 11. Goodwill | ||||||||
Changes in the carrying amount of goodwill for the years ended September 30, 2014 and 2013, are as follows (in thousands): | |||||||||
2014 | 2013 | ||||||||
Balance, beginning of year | $ | 697,807 | $ | 697,807 | |||||
Arising from prior period purchases | — | — | |||||||
Arising from business acquisitions | — | — | |||||||
Balance, end of year | $ | 697,807 | $ | 697,807 | |||||
Annually, the Company performs an impairment analysis to determine whether an adjustment to the carrying value of goodwill is required. The analysis is performed by comparing the fair value of the Bank to the carrying amount of its net assets. Fair value is based on the best information available, such as present value or multiple of earnings techniques. For the years ended September 30, 2014, 2013 and 2012, the Company did not recognize any impairment related to goodwill. |
Core_Deposits_and_Other_Intang
Core Deposits and Other Intangibles | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||
Core Deposits and Other Intangibles | 11. Core Deposits and Other Intangibles | 12. Core Deposits and Other Intangibles | ||||||||||||||||||||||||||||||||||||
A summary of intangible assets subject to amortization is as follows (in thousands): | A summary of intangible assets subject to amortization is as follows (in thousands): | |||||||||||||||||||||||||||||||||||||
Core | Brand | Customer | Total | Core Deposit | Brand | Customer | Other | Total | ||||||||||||||||||||||||||||||
Deposit | Intangible | Relationships | Intangible | Intangible | Relationships | |||||||||||||||||||||||||||||||||
Intangible | Intangible | Intangible | ||||||||||||||||||||||||||||||||||||
As of December 31,2014 | As of September 30, 2014 | |||||||||||||||||||||||||||||||||||||
Gross carrying amount | $ | 92,679 | $ | 8,464 | $ | 16,089 | $ | 117,232 | Gross carrying amount | $ | 92,679 | $ | 8,464 | $ | 16,089 | $ | — | $ | 117,232 | |||||||||||||||||||
Accumulated amortization | (89,121 | ) | (3,713 | ) | (12,482 | ) | (105,316 | ) | Accumulated amortization | (87,423 | ) | (3,572 | ) | (12,008 | ) | — | (103,003 | ) | ||||||||||||||||||||
$ | 3,558 | $ | 4,751 | $ | 3,607 | $ | 11,916 | $ | 5,256 | $ | 4,892 | $ | 4,081 | $ | — | $ | 14,229 | |||||||||||||||||||||
As of September 30, 2014 | As of September 30, 2013 | |||||||||||||||||||||||||||||||||||||
Gross carrying amount | $ | 92,679 | $ | 8,464 | $ | 16,089 | $ | 117,232 | Gross carrying amount | $ | 92,679 | $ | 8,464 | $ | 16,089 | $ | — | $ | 117,232 | |||||||||||||||||||
Accumulated amortization | (87,423 | ) | (3,572 | ) | (12,008 | ) | (103,003 | ) | Accumulated amortization | (73,668 | ) | (3,008 | ) | (10,112 | ) | — | (86,788 | ) | ||||||||||||||||||||
$ | 5,256 | $ | 4,892 | $ | 4,081 | $ | 14,229 | $ | 19,011 | $ | 5,456 | $ | 5,977 | $ | — | $ | 30,444 | |||||||||||||||||||||
Amortization expense of intangible assets was $2.3 million and $4.7 million for the three months ended December 31, 2014 and 2013, respectively. | Amortization expense of intangible assets was $16.22 million, $19.29 million and $19.65 million for the years ended September 30, 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||
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 subsequent fiscal years is as follows (in thousands): | 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 subsequent fiscal years is as follows (in thousands): | |||||||||||||||||||||||||||||||||||||
Remaining in 2015 | $ | 4,797 | 2015 | $ | 7,110 | |||||||||||||||||||||||||||||||||
2016 | 2,822 | 2016 | 2,822 | |||||||||||||||||||||||||||||||||||
2017 | 1,097 | 2017 | 1,097 | |||||||||||||||||||||||||||||||||||
2018 | 564 | 2018 | 564 | |||||||||||||||||||||||||||||||||||
2019 | 564 | 2019 | 564 | |||||||||||||||||||||||||||||||||||
2020 and thereafter | 2,072 | 2020 and thereafter | 2,072 | |||||||||||||||||||||||||||||||||||
$ | 11,916 | $ | 14,229 | |||||||||||||||||||||||||||||||||||
Deposits
Deposits | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Banking and Thrift [Abstract] | |||||||||
Deposits | 13. Deposits | ||||||||
The composition of deposits as of September 30, 2014 and 2013, is as follows (in thousands): | |||||||||
2014 | 2013 | ||||||||
Noninterest-bearing demand | $ | 1,303,015 | $ | 1,199,427 | |||||
NOW accounts, money market and savings | 4,005,471 | 3,601,796 | |||||||
Time certificates, $100,000 or more | 733,376 | 850,817 | |||||||
Other time certificates | 1,010,318 | 1,296,168 | |||||||
$ | 7,052,180 | $ | 6,948,208 | ||||||
At September 30, 2014, the scheduled maturities of time certificates in subsequent fiscal years are as follows (in thousands): | |||||||||
2015 | $ | 1,137,736 | |||||||
2016 | 316,194 | ||||||||
2017 | 132,565 | ||||||||
2018 | 78,430 | ||||||||
2019 | 36,359 | ||||||||
2020 and thereafter | 42,410 | ||||||||
$ | 1,743,694 | ||||||||
Securities_Sold_Under_Agreemen
Securities Sold Under Agreements to Repurchase | 3 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Sep. 30, 2014 | |
Banking and Thrift [Abstract] | ||
Securities Sold Under Agreements to Repurchase | 12. Securities Sold Under Agreements to Repurchase | 14. Securities Sold Under Agreements to Repurchase |
Securities sold under agreements to repurchase generally mature within one to four days from the transaction date. Securities underlying the agreements had an amortized cost of approximately $200.3 million and $190.6 million and fair value of approximately $199.2 million and $188.6 million at December 31, 2014 and September 30, 2014, respectively. The Company holds the securities under third-party safekeeping agreements. | Securities sold under agreements to repurchase generally mature within one to four days from the transaction date. Securities underlying the agreements had an amortized cost of approximately $190.59 million and $226.16 million and fair value of approximately $188.61 million and $224.16 million at September 30, 2014 and 2013, respectively. The Company holds the securities under third-party safekeeping agreements. |
FHLB_Advances_Related_Party_No
FHLB Advances, Related Party Notes Payable and Other Borrowings | 3 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||
Federal Home Loan Banks [Abstract] | ||||||||||||||||||
FHLB Advances, Related Party Notes Payable and Other Borrowings | 13. FHLB Advances, Related Party Notes Payable and Other Borrowings | 15. FHLB Advances, Related Party Notes Payable and Other Borrowings | ||||||||||||||||
FHLB advances, related party notes payable, and other borrowings consist of the following at December 31, 2014 and September 30, 2014 (in thousands): | FHLB advances, related party notes payable, and other borrowings consist of the following at September 30, 2014 and 2013 (in thousands): | |||||||||||||||||
December 31, | September 30, | 2014 | 2013 | |||||||||||||||
2014 | 2014 | Subordinated capital note to NAB New York (a branch of NAB), due June 2018 (callable June 2015), interest paid quarterly based on LIBOR plus 205 basis points, unsecured | $ | 35,795 | $ | 35,795 | ||||||||||||
Subordinated capital note to NAB New York (a branch of NAB), due June 2018 (callable June 2015), interest paid quarterly based on LIBOR plus 205 basis points, unsecured | $ | 35,795 | $ | 35,795 | $10,000 revolving line of credit to NAB due on demand, interest paid monthly based on LIBOR plus 125 basis points, unsecured | 5,500 | 5,500 | |||||||||||
$10,000 revolving line of credit to NAB due on demand, interest paid monthly based on LIBOR plus 125 basis points, unsecured | 5,500 | 5,500 | ||||||||||||||||
Total related party notes payable | 41,295 | 41,295 | Total related party notes payable | 41,295 | 41,295 | |||||||||||||
Notes payable to Federal Home Loan Bank (FHLB), interest rates from 0.21% to 3.66% and maturity dates from January 2015 to July 2023, collateralized by real estate loans and FHLB stock, with various call dates at the option of the FHLB | 575,000 | 575,000 | Notes payable to Federal Home Loan Bank (FHLB), interest rates from 0.21% to 3.66% and maturity dates from April 2015 to July 2023, collateralized by real estate loans and FHLB stock, with various call dates at the option of the FHLB | 575,000 | 390,500 | |||||||||||||
Other | 85 | 94 | Other | 94 | 107 | |||||||||||||
Total FHLB advances and other borrowings | 575,085 | 575,094 | Total FHLB advances and other borrowings | 575,094 | 390,607 | |||||||||||||
$ | 616,380 | $ | 616,389 | $ | 616,389 | $ | 431,902 | |||||||||||
As of December 31, 2014, based on its Federal Home Loan Bank stock holdings, the combined aggregate additional borrowing capacity of the Company with the Federal Home Loan Bank was $685.6 million. | As of September 30, 2014, based on its Federal Home Loan Bank stock holdings, the combined aggregate additional borrowing capacity of the Company with the Federal Home Loan Bank was $659.76 million. | |||||||||||||||||
Principal balances of loans pledged to the Federal Home Loan Bank to collateralize notes payable totaled $2,174.2 million and $2,145.5 million at December 31, 2014 and September 30, 2014, respectively. | Principal balances of loans pledged to the Federal Home Loan Bank to collateralize notes payable totaled $2,145.55 million and $1,984.67 million at September 30, 2014 and 2013, respectively. | |||||||||||||||||
As of December 31, 2014, FHLB advances, related party notes payable and other borrowings are due or callable (whichever is earlier) in subsequent fiscal years as follows (in thousands): | ||||||||||||||||||
As of September 30, 2014, FHLB advances, related party notes payable and other borrowings are due or callable (whichever is earlier) in subsequent fiscal years as follows (in thousands): | ||||||||||||||||||
Remaining in 2015 | $ | 95,585 | ||||||||||||||||
2016 | 90,000 | 2015 | $ | 70,594 | ||||||||||||||
2017 | 25,000 | 2016 | 90,000 | |||||||||||||||
2018 | 60,795 | 2017 | 25,000 | |||||||||||||||
2019 | 75,000 | 2018 | 60,795 | |||||||||||||||
2020 and thereafter | 270,000 | 2019 | 100,000 | |||||||||||||||
2020 and thereafter | 270,000 | |||||||||||||||||
$ | 616,380 | |||||||||||||||||
$ | 616,389 | |||||||||||||||||
Subordinated_Debentures
Subordinated Debentures | 12 Months Ended |
Sep. 30, 2014 | |
Brokers and Dealers [Abstract] | |
Subordinated Debentures | 16. Subordinated Debentures |
The Company has caused three trusts to be created that have issued Company Obligated Mandatorily Redeemable Preferred Securities (Preferred Securities). These trusts are described herein. | |
The sole assets of the trusts are junior subordinated deferrable interest debentures (the Debentures) issued by the Company (or assumed as part of the Sunstate Bank acquisition) with interest, maturity, and distribution provisions similar in term to the respective Preferred Securities. Additionally, to the extent interest payments are deferred on the Debentures, payment on the Preferred Securities will be deferred for the same period. | |
The trusts’ ability to pay amounts due on the Preferred Securities is solely dependent upon the Company making payment on the related Debentures. The Company’s obligation under the Debentures and relevant trust agreements constitute a full, irrevocable, and unconditional guarantee on a subordinated basis by it of the obligations of the trusts under the Preferred Securities. | |
For regulatory purposes the Debentures qualify as elements of capital. As of September 30, 2014, $56 million of Debentures were eligible for treatment as Tier 1 capital. | |
The Company caused to be issued 22,400 shares, $1,000 par value, of Company Obligated Mandatorily Redeemable Preferred Securities (Preferred Securities) of Great Western Statutory Trust IV on December 17, 2003, through a private placement. The distribution rate is set quarterly at three-month LIBOR plus 285 basis points. Interest Payment Dates are March 17, June 17, September 17 and December 17 of each year, beginning March 17, 2004 and are payable in arrears. The Company may, at one or more times, defer interest payments on the related Debentures for up to 20 consecutive quarters following suspension of dividends on all capital stock. At the end of any deferral period, all accumulated and unpaid distributions must be paid. The Debentures will be redeemed 30 years from the issuance date; however, subject to the Company receiving prior approval of the Federal Reserve, if required, the Company has the right to redeem the Debentures in whole, but not in part, at the Special Redemption Date, at a premium as defined by the Indenture if a “Special Event” occurs prior to December 17, 2008. A “Special Event” means any Capital Treatment Event, an Investment Company Event, or a Tax Event. On or after December 17, 2008, subject to the Company receiving prior approval of the Federal Reserve, if required, the Company has the right to redeem the Debentures at the Redemption Price, in whole or in part, on an Interest Payment Date. The Redemption Price is $1,000 per Preferred Security plus any accrued and unpaid distributions to the date of redemption. Holders of the Preferred Securities have no voting rights. The Preferred Securities are unsecured and rank junior in priority of payment to all of the Company’s senior indebtedness and senior to the Company’s common and preferred stock. Proceeds from the issue were used for general corporate purposes. | |
The Company caused to be issued 30,000 shares, $1,000 par value, of Company Obligated Mandatorily Redeemable Preferred Securities (Preferred Securities) of GWB Capital Trust VI on March 10, 2006, through a private placement. The distribution rate is set quarterly at three-month LIBOR plus 148 basis points. Interest Payment dates are December 15, March 15, June 15, and September 15 of each year, beginning June 15, 2006, and are payable in arrears. The Company may, at one or more times, defer interest payments on the related Debentures for up to 20 consecutive quarters following suspension of dividends on all capital stock. At the end of any deferral period, all accumulated and unpaid interest must be paid. The Debentures will be redeemed March 15, 2036; however, subject to the Company receiving prior approval of the Federal Reserve, if required, the Company has the right to redeem the Debentures in whole, but not in part, at any Interest Payment Date, at a premium as defined by the Indenture if a “Special Event” occurs prior to March 15, 2007. A “Special Event” means any Capital Treatment Event, an Investment Company Event, or a Tax Event. On or after March 15, 2011, subject to the Company receiving approval of the Federal Reserve, if required, the Company has the right to redeem the Debentures at the Redemption Price, whole or in part, on an Interest Payment Date. The Redemption Price is $1,000 per Preferred Security plus any accrued and unpaid interest to the date of redemption. Holders of the Preferred Securities have no voting rights. The Preferred Securities are unsecured and rank junior in priority of payment to all of the Company’s senior indebtedness and senior to the Company’s common and preferred stock. Proceeds from the issue were used for general corporate purposes including redemption of the 9.75% Preferred Securities of GWB Capital Trust II. | |
The Company acquired the Sunstate Bancshares Trust II in the acquisition of Sunstate Bank. Sunstate Bancshares caused to be issued 2,000 shares, $1,000 par value, of Company Obligated Mandatorily Redeemable Preferred Securities (Preferred Securities) of Sunstate Bancshares Trust II on June 1, 2005, through a private placement. The distribution rate is set quarterly at three-month LIBOR plus 185 basis points. Interest Payment dates are March 15, June 15, September 15, and December 15 of each year, beginning September 15, 2005, and are payable in arrears. The Company may, at one or more times, defer interest payments on the related Debentures for up to 20 consecutive quarters following suspension of dividends on all capital stock. At the end of any deferral period, all accumulated and unpaid interest must be paid. The Debentures will be redeemed June 15, 2035; however, subject to the Company receiving prior approval of the Federal Reserve, if required, the Company has the right to redeem the Debentures in whole or in part, at any time, within 90 days following the occurrence of a Special Event, at a premium as defined by the Indenture if a “Special Event” occurs prior to June 15, 2010. A “Special Event” means any Capital Treatment Event, an Investment Company Event, or a Tax Event. On or after June 15, 2010, subject to the Company receiving prior approval of the Federal Reserve, if required, the Company has the right to redeem the Debentures at the Redemption Price, in whole or in part, on an Interest Payment Date. The Redemption Price is $1,000 per Preferred Security plus any accrued and unpaid interest to the date of redemption. Holders of the Preferred Securities have no voting rights. The Preferred Securities are unsecured and rank junior in priority of payment to all of the Company’s senior indebtedness and senior to the Company’s common and preferred stock. Relating to the trusts, the Company held as assets $1.68 million in common shares at September 30, 2014 and 2013. |
Income_Taxes
Income Taxes | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||||||||||
Income Taxes | 14. Income Taxes | 17. Income Taxes | ||||||||||||||||||||
The provision for income taxes charged to operations consists of the following for the three months ended December 31, 2014 and 2013 (in thousands): | The provision for income taxes charged to operations consists of the following for the years ended September 30, 2014 and 2013 (in thousands): | |||||||||||||||||||||
Three Months Ended | 2014 | 2013 | 2012 | |||||||||||||||||||
December 31, | Currently paid or payable | |||||||||||||||||||||
2014 | 2013 | Federal | $ | 58,172 | $ | 51,828 | $ | 51,677 | ||||||||||||||
Currently paid or payable | State | 8,638 | 8,158 | 7,200 | ||||||||||||||||||
Federal | $ | 13,673 | $ | 15,967 | ||||||||||||||||||
State | 1,993 | 2,669 | 66,810 | 59,986 | 58,877 | |||||||||||||||||
Deferred tax (benefit) expense | (12,463 | ) | (6,088 | ) | (14,719 | ) | ||||||||||||||||
15,666 | 18,636 | |||||||||||||||||||||
Deferred tax benefit | (1,964 | ) | (3,697 | ) | Income tax expense | $ | 54,347 | $ | 53,898 | $ | 44,158 | |||||||||||
Income tax expense | $ | 13,702 | $ | 14,939 | ||||||||||||||||||
The income tax provision differs from the amount of income tax determined by applying the U.S. federal income tax rate to pretax income due to the following for the years ended September 30, 2014 and 2013 (in thousands): | ||||||||||||||||||||||
The income tax provision differs from the amount of income tax determined by applying the U.S. federal income tax rate to pretax income due to the following for the three months ended December 31, 2014 and 2013 (in thousands): | ||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||
Three Months Ended | Computed “expected” tax expense (35%) | $ | 55,754 | $ | 52,550 | $ | 41,004 | |||||||||||||||
December 31, | Increase (decrease) in income taxes resulting from: | |||||||||||||||||||||
2014 | 2013 | Tax exempt interest income | (4,926 | ) | (3,856 | ) | (2,348 | ) | ||||||||||||||
Tax at statutory rate (35%) | $ | 14,019 | $ | 15,240 | State income taxes, net of federal benefit | 5,615 | 5,303 | 4,680 | ||||||||||||||
Increase (decrease) in income taxes resulting from: | Other | (2,096 | ) | (99 | ) | 822 | ||||||||||||||||
Tax exempt interest income | (1,565 | ) | (1,102 | ) | ||||||||||||||||||
State income taxes, net of federal benefit | 1,295 | 1,735 | Actual tax expense | $ | 54,347 | $ | 53,898 | $ | 44,158 | |||||||||||||
Other | (47 | ) | (934 | ) | ||||||||||||||||||
Net deferred tax assets (liabilities) consist of the following components at September 30, 2014 and 2013 (in thousands): | ||||||||||||||||||||||
Income tax expense | $ | 13,702 | $ | 14,939 | ||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Net deferred tax assets (liabilities) consist of the following components at December 31, 2014 and September 30, 2014 (in thousands): | Deferred tax assets: | |||||||||||||||||||||
Allowance for loan losses | $ | 19,683 | $ | 22,686 | ||||||||||||||||||
Compensation | 329 | 320 | ||||||||||||||||||||
December 31, 2014 | September 30, 2014 | Net operating loss carryforward | 119 | 170 | ||||||||||||||||||
Deferred tax assets: | Securities available for sale | 3,758 | 4,144 | |||||||||||||||||||
Allowance for loan losses | $ | 20,705 | $ | 19,683 | Other real estate owned | 13,721 | 7,072 | |||||||||||||||
Compensation | 508 | 329 | Core deposit intangible and other fair value adjustments | 10,573 | 6,617 | |||||||||||||||||
Net operating loss carryforward | 106 | 119 | Excess tax basis of loans acquired over carrying value | 9,595 | 10,879 | |||||||||||||||||
Securities available for sale | 1,849 | 3,758 | Other | 6,272 | 5,668 | |||||||||||||||||
Other real estate owned | 14,780 | 13,721 | ||||||||||||||||||||
Core deposit intangible and other fair value adjustments | 10,900 | 10,573 | 64,050 | 57,556 | ||||||||||||||||||
Excess tax basis of loans acquired over carrying value | 9,005 | 9,595 | ||||||||||||||||||||
Other | 4,880 | 6,272 | Deferred tax liabilities: | |||||||||||||||||||
Goodwill and other intangibles | (9,099 | ) | (5,143 | ) | ||||||||||||||||||
62,733 | 64,050 | Securities available for sale | — | — | ||||||||||||||||||
Premises and equipment | (4,390 | ) | (6,132 | ) | ||||||||||||||||||
Deferred tax liabilities: | Excess carrying value of FDIC indemnification asset and clawback liability | (4,280 | ) | (11,943 | ) | |||||||||||||||||
Goodwill and other intangibles | (10,072 | ) | (9,099 | ) | Other | (1,578 | ) | (1,712 | ) | |||||||||||||
Premises and equipment | (3,957 | ) | (4,390 | ) | ||||||||||||||||||
Excess carrying value of FDIC indemnification asset and clawback liability | (2,480 | ) | (4,280 | ) | (19,347 | ) | (24,930 | ) | ||||||||||||||
Other | (1,465 | ) | (1,578 | ) | ||||||||||||||||||
Net deferred tax assets (liabilities) | $ | 44,703 | $ | 32,626 | ||||||||||||||||||
(17,974 | ) | (19,347 | ) | |||||||||||||||||||
At September 30, 2014 and 2013, the Company had an income tax payable to National Americas Investment, Inc. for $4.91 million and $12.39 million (included in income tax payable). | ||||||||||||||||||||||
Net deferred tax assets (liabilities) | $ | 44,759 | $ | 44,703 | Management has determined a valuation reserve is not required for the deferred tax assets because it is more likely than not these assets could be realized through carry back to taxable income in prior years, future reversals of existing taxable temporary differences, and future taxable income. | |||||||||||||||||
Uncertain tax positions were not significant at September 30, 2014 or 2013. | ||||||||||||||||||||||
At December 31, 2014, the Company had income tax payable of $13.7 million to the Internal Revenue Service and at September 30, 2014, had income tax payable of $4.9 million to National Americas Investment, Inc. (included in income tax payable). | The Company is no longer subject to U.S. federal, state and local or non-U.S. income tax examinations by tax authorities for years before 2009. In July 2014, the IRS issued the final report on their examination of federal income tax returns for the periods ended September 30, 2010 and 2011. The results of the examination did not have a material effect on our financial condition or results of operations. | |||||||||||||||||||||
Management has determined a valuation reserve is not required for the deferred tax assets because it is more likely than not these assets could be realized through carry back to taxable income in prior years, future reversals of existing taxable temporary differences, and future taxable income. | ||||||||||||||||||||||
Uncertain tax positions were not significant at December 31, 2014 or September 30, 2014. | ||||||||||||||||||||||
The Company is no longer subject to U.S. federal, state and local or non-U.S. income tax examinations by tax authorities for years before 2009. In July 2014, the IRS issued the final report on their examination of federal income tax returns for the periods ended September 30, 2010 and 2011. The results of the examination did not have a material effect on our financial condition or results of operations. |
ProfitSharing_Plan
Profit-Sharing Plan | 3 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Sep. 30, 2014 | |
Postemployment Benefits [Abstract] | ||
Profit-Sharing Plan | 15. Profit-Sharing Plan | 18. Profit-Sharing Plan |
The Company participates in a multiple employer 401(k) profit sharing plan (the Plan). All employees are eligible to participate, beginning with the first day of the month coincident with or immediately following the completion of one year of service and having reached the age of 21. In addition to employee contributions, the Company may contribute discretionary amounts for eligible participants. Contribution rates for participating employers must be equal. The Company contributed $1.3 million and $1.2 million to the Plan for the three months ended December 31, 2014 and 2013, respectively. | The Company participates in a multiple employer 401(k) profit sharing plan (the Plan). All employees are eligible to participate, beginning with the first day of the month coincident with or immediately following the completion of one year of service and having reached the age of 21. In addition to employee contributions, the Company may contribute discretionary amounts for eligible participants. Contribution rates for participating employers must be equal. The Company contributed $3.60 million, $4.48 million and $4.13 million to the Plan for the years ended September 30, 2014, 2013 and 2012, respectively. |
Regulatory_Matters
Regulatory Matters | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Banking and Thrift [Abstract] | |||||||||||||||||||||||||
Regulatory Matters | 19. Regulatory Matters | ||||||||||||||||||||||||
The Company and the Bank are subject to certain restrictions on the amount of dividends that may be declared without prior regulatory approval and are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. | |||||||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the table following) of total and Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets (all defined in the regulations). The Company met all capital adequacy and net worth requirements to which they are subject as of September 30, 2014 and 2013. | |||||||||||||||||||||||||
The most recent notifications from the regulatory agencies categorize the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well-capitalized, the Bank must maintain minimum total risk-based, Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the following table. There are no conditions or events since those notifications that management believes have changed the categories. | |||||||||||||||||||||||||
As an approved mortgage seller, the Bank is required to maintain a minimum level of capital specified by the United States Department of Housing and Urban Development. At September 30, 2014 and 2013, the Bank met these requirements. | |||||||||||||||||||||||||
Capital amounts and ratios are presented in the following table (in thousands): | |||||||||||||||||||||||||
Actual | For Capital Adequacy | To Be Well Capitalized Under | |||||||||||||||||||||||
Purposes | Prompt Corrective Action | ||||||||||||||||||||||||
Provisions | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||
Total risk based capital (to risk-weighted assets): | |||||||||||||||||||||||||
Consolidated | $ | 851,867 | 12.87 | % | $ | 529,521 | 8 | % | N/A | N/A | |||||||||||||||
Bank | 861,392 | 13.02 | % | 529,273 | 8 | % | $ | 661,591 | 10 | % | |||||||||||||||
Tier 1 risk based capital (to risk-weighted assets): | |||||||||||||||||||||||||
Consolidated | 782,872 | 11.83 | % | 264,707 | 4 | % | N/A | N/A | |||||||||||||||||
Bank | 813,874 | 12.3 | % | 264,674 | 4 | % | 397,012 | 6 | % | ||||||||||||||||
Tier 1 leverage capital (to average assets): | |||||||||||||||||||||||||
Consolidated | 782,872 | 9.1 | % | 344,120 | 4 | % | N/A | N/A | |||||||||||||||||
Bank | 813,874 | 9.46 | % | 344,133 | 4 | % | 430,166 | 5 | % | ||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||
Total risk based capital (to risk-weighted assets): | |||||||||||||||||||||||||
Consolidated | $ | 846,689 | 13.8 | % | $ | 490,865 | 8 | % | N/A | N/A | |||||||||||||||
Bank | 848,534 | 13.83 | % | 490,793 | 8 | % | $ | 613,492 | 10 | % | |||||||||||||||
Tier 1 risk based capital (to risk-weighted assets): | |||||||||||||||||||||||||
Consolidated | 762,189 | 12.42 | % | 245,433 | 4 | % | N/A | N/A | |||||||||||||||||
Bank | 792,670 | 12.92 | % | 245,397 | 4 | % | 368,095 | 6 | % | ||||||||||||||||
Tier 1 leverage capital (to average assets): | |||||||||||||||||||||||||
Consolidated | 762,189 | 9.2 | % | 331,374 | 4 | % | N/A | N/A | |||||||||||||||||
Bank | 792,670 | 9.45 | % | 335,348 | 4 | % | 419,185 | 5 | % |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||
Commitments and Contingencies | 20. Commitments and Contingencies | ||||||||
Financial Instruments with Off-Balance-Sheet Risk | |||||||||
The Company is party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and letters of credit. They involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and letters of credit is represented by the contractual amount of those instruments. A summary of the Company’s commitments as of September 30, 2014 and 2013, is as follows (in thousands): | |||||||||
2014 | 2013 | ||||||||
Commitments to extend credit | $ | 1,939,544 | $ | 1,713,869 | |||||
Letters of credit | 54,381 | 51,893 | |||||||
Commitments to extend credit are agreements to lend to a customer provided there is no violation of any condition established in the contract. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. The Company evaluates each customer’s credit worthiness on a case-by-case basis. The credit and collateral policy for commitments and letters of credit is comparable to that for granting loans. | |||||||||
Asset Sales | |||||||||
The Bank has provided guarantees in connection with the sale of loans and has assumed a similar obligation in its acquisitions. The guarantees are generally in the form of asset buy back or make whole provisions that are triggered upon a credit event and remain in effect until the loans are collected. The maximum potential future payment related to these guarantees is not readily determinable because the Company’s obligation under these agreements depends on the occurrence of future events. There were $1.73 million and $0.16 million loans repurchased for the year ended September 30, 2014 and 2013, respectively. Incurred losses related to these repurchased loans and guaranteed loans as of September 30, 2014 and 2013, are not significant. | |||||||||
Financial Instruments with Concentration of Credit Risk by Geographic Location | |||||||||
A substantial portion of the Company’s customers’ ability to honor their contracts is dependent on the economy in eastern and northern Nebraska, northern Missouri, northeastern Kansas, Iowa, southeastern Arizona, central Colorado, and South Dakota. Although the Company’s loan portfolio is diversified, there is a relationship in these regions between the agricultural economy and the economic performance of loans made to nonagricultural customers. The concentration of credit in the regional agricultural economy is taken into consideration by management in determining the allowance for loan losses. | |||||||||
Lease Commitments | |||||||||
The Company leases several branch locations under terms of operating lease agreements expiring through December 31, 2021. The Company has the option to renew these leases for periods that range from 1 to 5 years. Total rent expense for these leases for the years ended September 30, 2014, 2013 and 2012, was $5.21 million, $5.62 million and $5.32 million, respectively. | |||||||||
Approximate future minimum rental payments for operating leases in excess of one year in subsequent fiscal years are as follows (in thousands): | |||||||||
2015 | $ | 3,463 | |||||||
2016 | 2,884 | ||||||||
2017 | 2,394 | ||||||||
2018 | 1,848 | ||||||||
2019 | 974 | ||||||||
2020 and thereafter | 1,261 | ||||||||
$ | 12,824 | ||||||||
Contingencies | |||||||||
In the normal course of business, the Company is involved in various legal proceedings. In the opinion of management, any liability resulting from such proceedings would not have a material adverse effect on the Company’s consolidated financial statements. | |||||||||
The Company was a defendant in a case that challenged the Company’s ordering of transactions posted to customer checking accounts. The Company entered into and satisfied the settlement during 2012. The settlement was not material to the Company’s consolidated financial statements. |
Transactions_With_Related_Part
Transactions With Related Parties | 12 Months Ended |
Sep. 30, 2014 | |
Related Party Transactions [Abstract] | |
Transactions With Related Parties | 21. Transactions With Related Parties |
The Company has had, and may be expected to have in the future, banking transactions in the ordinary course of business with directors, executive officers, their immediate families, and affiliated companies in which they have 10% or more beneficial ownership (commonly referred to as related parties). Total loans committed to related parties were not significant at September 30, 2014 and 2013. | |
In conjunction with the purchase of the Company on June 3, 2008, the subordinated capital notes with Capital Investors, LLC were redeemed and a new subordinated capital note was issued to NAB New York (a branch of NAB) in the amount of $35.80 million. The subordinated capital note bears interest at a floating rate of LIBOR plus 205 basis points and is due June 3, 2018, with interest payable quarterly. The interest rate at September 30, 2014, was 2.2836%, and resets quarterly on each September 3, December 3, March 3, and June 3. The Company has the right, subject to regulatory approval, to prepay the subordinated capital note without penalty. The Company’s obligations under its Preferred Securities guarantee and the junior subordinated debentures are unsecured and rank junior to the Company’s obligations under its subordinated capital note. | |
In addition, the Company obtained a $10.00 million revolving line of credit with NAB, which is due on demand. The line of credit has an interest rate of LIBOR plus 125 basis points, with interest payable quarterly. The interest rate was 1.4067% at September 30, 2014, and will reset on December 5. There were outstanding advances of $5.50 million on this line of credit at September 30, 2014 and 2013. | |
NAB acts as the counterparty for all of the Company’s interest rate swaps. These swaps are discussed in Note 9. | |
NAB acts as a dealer on certain security purchases. Securities purchased from NAB totaled $0 and $56.12 million for the years ended September 30, 2014 and 2013, respectively. No commissions were paid to NAB in connection with these purchases. | |
Interest paid to related parties for notes payable as discussed above and in Note 15 was $0.91 million, $0.91 million and $1.00 million for the years ended September 30, 2014, 2013 and 2012, respectively. | |
NAB provides the Company’s employees with restricted shares of NAB stock subsequent to meeting short- and long-term incentive goals. A payable is recorded between the Company and NAB based on the value and vesting schedule of issued shares. The liability included in accrued expenses on the consolidated balance sheets was $0.82 million and $2.36 million at September 30, 2014 and 2013, respectively. The expense related to the restricted shares was $2.06 million, $1.94 million and $2.14 million for the years ended September 30, 2014, 2013 and 2012, respectively, and is included within salaries and employee benefits on the consolidated statements of comprehensive income. | |
Prior to the IPO, our Chief Financial Officer and Chief Risk Officer were employees of NAB and its subsidiary, Bank of New Zealand, respectively. In connection with the IPO, the Company entered into employment agreements with our Chief Financial Officer and Chief Risk Officer, whose employment with NAB or Bank of New Zealand, as applicable, terminated. Additionally, the Company’s Chief Credit Officer is a NAB employee and the Head of Credit-Agribusiness is a Bank of New Zealand employee, both of whom were temporarily seconded to work with the Company beginning in November 2010 and December 2010, respectively, and continuing through December 31, 2014. The Company has generally been responsible for paying the salary and benefits of these individuals while they were or continue to be NAB or Bank of New Zealand employees, however certain of these expenses are reimbursable by NAB. Expenses reimbursed by the Company to NAB in connection with these employees totaled $0.44 million, $0.58 million and $0.88 million for the years ended September 30, 2014, 2013 and 2012, respectively. | |
During fiscal year 2014, NAB apportioned to its U.S. operations, including the Company, certain costs associated with NAB’s compliance with rules implemented pursuant to authority granted under the Dodd-Frank Act. These costs were apportioned based on the aggregate amount of assets of each of NAB’s U.S. operations relative to the total assets of all of NAB’s U.S. operations. During fiscal year 2014, the Company paid NAB approximately $0.21 million related to these apportioned costs. | |
In connection with the IPO, other than certain audit-related expenses paid by the Company, NAB has paid or will reimburse all fees and expenses the Company incurred in connection with the IPO. These expenses totaled $1.94 million for the year ended September 30, 2014. | |
In connection with the IPO, the Company and NAB entered into an agreement providing a framework for our ongoing relationship with NAB referred to as the Transitional Services Agreement whereby NAB will continue to provide us with certain services for a transition period until such time as NAB ceases to control us for purposes of the U.S. Bank Holding Company Act of 1956, as amended, or the BHC Act. | |
The Company’s Chief Executive Officer’s son owns a 22.5% interest in Sioux Falls Financial Services, LLC, which leases to the Company certain property in South Dakota used as an operations center. The lease agreement for this property commenced on April 1, 2011 and contains customary and standard terms for similar lease arrangements. The term of the lease runs through March 31, 2020, at which point the Company has the option to renew the lease for an additional five year term. Payments under this lease totaled approximately $0.18 million, $0.19 million and $0.17 million for the years ended September 30, 2014, 2013 and 2012, respectively. | |
The Company’s corporate insurance policies are negotiated and paid by NAB and reimbursed by the Company on an annual basis. The fees we will pay for these services under the Transitional Services Agreement will be based on prevailing market rates. | |
During the IPO, the underwriters reserved for sale at the initial public offering price up to 5% of the shares offered by this prospectus for sale to some of our directors, officers, employees, friends, family, customers and related persons through a reserved share program. A total of 130,880 shares were purchased in the reserved share program. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments and Interest Rate Risk | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments and Interest Rate Risk | 17. Fair Value of Financial Instruments and Interest Rate Risk | 22. Fair Value of Financial Instruments and Interest Rate Risk | ||||||||||||||||||||||||||||||||||||||||
The Company measures, monitors and discloses certain of its assets and liabilities on a fair value basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value guidance also establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The guidance describes three levels of inputs that may be used to measure fair value are as follows: | The Company measures, monitors and discloses certain of its assets and liabilities on a fair value basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value guidance also establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The guidance describes three levels of inputs that may be used to measure fair value are as follows: | |||||||||||||||||||||||||||||||||||||||||
Level 1 | Quoted prices in active markets for identical assets or liabilities | Level 1 | Quoted prices in active markets for identical assets or liabilities | |||||||||||||||||||||||||||||||||||||||
Level 2 | Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities | Level 2 | Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities | |||||||||||||||||||||||||||||||||||||||
Level 3 | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities | Level 3 | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities | |||||||||||||||||||||||||||||||||||||||
Level 1 inputs are considered to be the most transparent and reliable and Level 3 inputs are considered to be the least transparent and reliable. The Company assumes the use of the principal market to conduct a transaction of each particular asset or liability being measured and then considers the assumptions that market participants would use when pricing the asset or liability. Whenever possible, the Company first looks for quoted prices for identical assets or liabilities in active markets (Level 1 inputs) to value each asset or liability. However, when inputs from identical assets or liabilities on active markets are not available, the Company utilizes market observable data for similar assets and liabilities. The Company maximizes the use of observable inputs and limits the use of unobservable inputs to occasions when observable inputs are not available. The need to use unobservable inputs generally results from the lack of market liquidity of the actual financial instrument or of the underlying collateral. Although in some instances, third party price indications may be available, limited trading activity can challenge the observability of these quotations. | ||||||||||||||||||||||||||||||||||||||||||
Level 1 inputs are considered to be the most transparent and reliable and Level 3 inputs are considered to be the least transparent and reliable. The Company assumes the use of the principal market to conduct a transaction of each particular asset or liability being measured and then considers the assumptions that market participants would use when pricing the asset or liability. Whenever possible, the Company first looks for quoted prices for identical assets or liabilities in active markets (Level 1 inputs) to value each asset or liability. However, when inputs from identical assets or liabilities on active markets are not available, the Company utilizes market observable data for similar assets and liabilities. The Company maximizes the use of observable inputs and limits the use of unobservable inputs to occasions when observable inputs are not available. The need to use unobservable inputs generally results from the lack of market liquidity of the actual financial instrument or of the underlying collateral. Although in some instances, third party price indications may be available, limited trading activity can challenge the observability of these quotations. | Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Following is a description of the valuation methodologies and inputs used for assets and liabilities measured at fair value on a recurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of such assets and liabilities pursuant to the valuation hierarchy. | |||||||||||||||||||||||||||||||||||||||||
Following is a description of the valuation methodologies and inputs used for assets and liabilities measured at fair value on a recurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of such assets and liabilities pursuant to the valuation hierarchy. | Securities Available for Sale | |||||||||||||||||||||||||||||||||||||||||
Securities Available for Sale | Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities include U.S. Treasury securities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flows and classified as Level 2 securities. Level 2 securities include U.S. government agency, agency mortgage-backed, states and political subdivisions, corporate debt, and other securities. Where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. | |||||||||||||||||||||||||||||||||||||||||
Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities include U.S. Treasury securities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flows and classified as Level 2 securities. Level 2 securities include U.S. government agency, agency mortgage-backed, states and political subdivisions, corporate debt, and other securities. Where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. | Interest Rate Swaps and Loans | |||||||||||||||||||||||||||||||||||||||||
Interest Rate Swaps and Loans | Interest rate swaps are valued using the system used to value all of NAB’s traded securities and derivatives using LIBOR rates. The fair value of loans accounted for under the fair value option represents the net carrying value of the loan, plus the equal and opposite amount of the value of the swap needed to hedge the interest rate risk and an adjustment for credit risk based on our assessment of existing market conditions for the specific portfolio of loans. This is used due to the strict prepayment penalties put in the loan terms to cover the cost of exiting the hedge of the loans in the case of early prepayment or termination. The adjustment for credit risk on loans accounted for under the fair value option is not significant to the overall fair value of the loans. The fair values estimated by NAB use interest rates that are observable or that can be corroborated by observable market data and, therefore, are classified within Level 2 of the valuation hierarchy. The Company is required to post cash collateral to NAB for interest rate derivative contracts that are in a liability position, thus a credit risk adjustment on interest rate swaps is not warranted. | |||||||||||||||||||||||||||||||||||||||||
Interest rate swaps are valued using the system used to value all of NAB’s traded securities and derivatives using LIBOR rates. The fair value of loans accounted for under the fair value option represents the net carrying value of the loan, plus the equal and opposite amount of the value of the swap needed to hedge the interest rate risk and an adjustment for credit risk based on our assessment of existing market conditions for the specific portfolio of loans. This is used due to the strict prepayment penalties put in the loan terms to cover the cost of exiting the hedge of the loans in the case of early prepayment or termination. The adjustment for credit risk on loans accounted for under the fair value option is not significant to the overall fair value of the loans. The fair values estimated by NAB use interest rates that are observable or that can be corroborated by observable market data and, therefore, are classified within Level 2 of the valuation hierarchy. The Company is required to post cash collateral to NAB for interest rate derivative contracts that are in a liability position, thus a credit risk adjustment on interest rate swaps is not warranted. | The following table presents the fair value measurements of assets and liabilities recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30 (in thousands): | |||||||||||||||||||||||||||||||||||||||||
The following table presents the fair value measurements of assets and liabilities recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2014 and September 30, 2014 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | U.S. Treasury securities | $ | 222,725 | $ | 222,725 | $ | — | $ | — | ||||||||||||||||||||||||||||||
As of December 31, 2014 | Mortgage-backed securities | 1,103,415 | — | 1,103,415 | — | |||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 272,578 | $ | 272,578 | $ | — | $ | — | States and political subdivision securities | 2,189 | — | 160 | 2,029 | |||||||||||||||||||||||||||||
Mortgage-backed securities | 983,102 | — | 983,102 | — | Corporate debt securities | 11,873 | — | 11,873 | — | |||||||||||||||||||||||||||||||||
States and political subdivision securities | 2,118 | — | 160 | 1,958 | Other | 1,040 | — | 1,040 | — | |||||||||||||||||||||||||||||||||
Corporate debt securities | 5,141 | — | 5,141 | — | ||||||||||||||||||||||||||||||||||||||
Other | 1,044 | — | 1,044 | — | Securities available for sale | $ | 1,341,242 | $ | 222,725 | $ | 1,116,488 | $ | 2,029 | |||||||||||||||||||||||||||||
Securities available for sale | $ | 1,263,983 | $ | 272,578 | $ | 989,447 | $ | 1,958 | Derivatives-assets | $ | 19 | $ | — | $ | 19 | $ | — | |||||||||||||||||||||||||
Derivatives-liabilities | 13,092 | — | 13,092 | — | ||||||||||||||||||||||||||||||||||||||
Derivatives-assets | $ | 14 | $ | — | $ | 14 | $ | — | Fair value loans and written loan commitments | 985,411 | — | 985,411 | — | |||||||||||||||||||||||||||||
Derivatives-liabilities | 32,409 | — | 32,409 | — | ||||||||||||||||||||||||||||||||||||||
Fair value loans and written loan commitments | 1,023,281 | — | 1,023,281 | — | ||||||||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | As of September 30, 2013 | ||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | U.S. Treasury securities | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 222,725 | $ | 222,725 | $ | — | $ | — | Mortgage-backed securities | 1,459,444 | — | 1,459,444 | — | |||||||||||||||||||||||||||||
Mortgage-backed securities | 1,103,415 | — | 1,103,415 | — | States and political subdivision securities | 3,532 | — | 1,289 | 2,243 | |||||||||||||||||||||||||||||||||
States and political subdivision securities | 2,189 | — | 160 | 2,029 | Corporate debt securities | 12,013 | — | 12,013 | — | |||||||||||||||||||||||||||||||||
Corporate debt securities | 11,873 | — | 11,873 | — | Other | 5,460 | — | 5,460 | — | |||||||||||||||||||||||||||||||||
Other | 1,040 | — | 1,040 | — | ||||||||||||||||||||||||||||||||||||||
Securities available for sale | $ | 1,480,449 | $ | — | $ | 1,478,206 | $ | 2,243 | ||||||||||||||||||||||||||||||||||
Securities available for sale | $ | 1,341,242 | $ | 222,725 | $ | 1,116,488 | $ | 2,029 | ||||||||||||||||||||||||||||||||||
Derivatives-assets | $ | 375 | $ | — | $ | 375 | $ | — | ||||||||||||||||||||||||||||||||||
Derivatives-assets | $ | 19 | $ | — | $ | 19 | $ | — | Derivatives-liabilities | 1,526 | — | 1,526 | — | |||||||||||||||||||||||||||||
Derivatives-liabilities | 13,092 | — | 13,092 | — | Fair value loans and written loan commitments | 841,862 | — | 841,862 | — | |||||||||||||||||||||||||||||||||
Fair value loans and written loan commitments | 985,411 | — | 985,411 | — | The following table presents the changes in Level 3 financial instruments for the years ended September 30, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||||||||||||||
The following table presents the changes in Level 3 financial instruments for the three months ended December 31, 2014 and 2013 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||
Other Securities | ||||||||||||||||||||||||||||||||||||||||||
Other Securities | Available for Sale | |||||||||||||||||||||||||||||||||||||||||
Available for Sale | Balance at September 30, 2012 | $ | 3,852 | |||||||||||||||||||||||||||||||||||||||
Balance at September 30, 2014 | $ | 2,029 | Principal paydown | (1,609 | ) | |||||||||||||||||||||||||||||||||||||
Principal paydown | (71 | ) | ||||||||||||||||||||||||||||||||||||||||
Balance at September 30, 2013 | $ | 2,243 | ||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2014 | $ | 1,958 | Principal paydown | (214 | ) | |||||||||||||||||||||||||||||||||||||
Balance at September 30, 2013 | 2,243 | Balance at September 30, 2014 | $ | 2,029 | ||||||||||||||||||||||||||||||||||||||
Principal paydown | — | |||||||||||||||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | ||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 2,243 | Following is a description of the valuation methodologies used for assets and liabilities measured at fair value on a nonrecurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of such assets and liabilities pursuant to the valuation hierarchy. | |||||||||||||||||||||||||||||||||||||||
Impaired Loans (Collateral Dependent) | ||||||||||||||||||||||||||||||||||||||||||
Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms are measured for impairment. Allowable methods for estimating fair value include using the fair value of the collateral for collateral dependent loans or, where a loan is determined not to be collateral dependent, using the discounted cash flow method. | ||||||||||||||||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | If the impaired loan is identified as collateral dependent, then the fair value method of measuring the amount of the impairment is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor, if necessary, to the appraised value and including costs to sell. Because many of these inputs are not observable, the measurements are classified as Level 3. | |||||||||||||||||||||||||||||||||||||||||
Following is a description of the valuation methodologies used for assets and liabilities measured at fair value on a nonrecurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of such assets and liabilities pursuant to the valuation hierarchy. | Other Real Estate Owned (OREO) | |||||||||||||||||||||||||||||||||||||||||
Impaired Loans (Collateral Dependent) | Other real estate owned consists of loan collateral that has been repossessed through foreclosure. This collateral is comprised of commercial and residential real estate. OREO is recorded initially at fair value of the collateral less estimated selling costs. Subsequent to foreclosure, valuations are updated periodically, and the assets may be marked down further to fair value less selling costs, reflecting a valuation allowance. Fair value measurements may be based upon appraisals, third-party price opinions, or internally developed pricing methods. These measurements are classified as Level 3. | |||||||||||||||||||||||||||||||||||||||||
Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms are measured for impairment. Allowable methods for estimating fair value include using the fair value of the collateral for collateral dependent loans or, where a loan is determined not to be collateral dependent, using the discounted cash flow method. | Mortgage Loans Held for Sale | |||||||||||||||||||||||||||||||||||||||||
If the impaired loan is identified as collateral dependent, then the fair value method of measuring the amount of the impairment is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor, if necessary, to the appraised value and including costs to sell. Because many of these inputs are not observable, the measurements are classified as Level 3. | Fair value of mortgage loans held for sale is based on either quoted prices for the same or similar loans, or values obtained from third parties, or are estimated for portfolios of loans with similar financial characteristics and are therefore considered a Level 2 valuation. | |||||||||||||||||||||||||||||||||||||||||
Other Real Estate Owned (OREO) | ||||||||||||||||||||||||||||||||||||||||||
Other real estate owned consists of loan collateral that has been repossessed through foreclosure. This collateral is comprised of commercial and residential real estate. OREO is recorded initially at fair value of the collateral less estimated selling costs. Subsequent to foreclosure, valuations are updated periodically, and the assets may be marked down further to fair value less selling costs, reflecting a valuation allowance. Fair value measurements may be based upon appraisals, third-party price opinions, or internally developed pricing methods. These measurements are classified as Level 3. | The following tables present the fair value measurement of assets and liabilities measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||||||||||||||||||
Mortgage Loans Held for Sale | ||||||||||||||||||||||||||||||||||||||||||
Fair value of mortgage loans held for sale is based on either quoted prices for the same or similar loans, or values obtained from third parties, or are estimated for portfolios of loans with similar financial characteristics and are therefore considered a Level 2 valuation. | ||||||||||||||||||||||||||||||||||||||||||
The following tables present the fair value measurement of assets and liabilities measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2014 and September 30, 2014 (in thousands): | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||
Other real estate owned | $ | 36,879 | $ | — | $ | — | $ | 36,879 | ||||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | Impaired loans | 111,265 | — | — | 111,265 | ||||||||||||||||||||||||||||||||||
As of December 31, 2014 | Loans held for sale, at lower of cost or fair value | 10,381 | — | 10,381 | — | |||||||||||||||||||||||||||||||||||||
Other real estate owned | $ | 7,164 | $ | — | $ | — | $ | 7,164 | ||||||||||||||||||||||||||||||||||
Impaired loans | 152,312 | — | — | 152,312 | As of September 30, 2013 | |||||||||||||||||||||||||||||||||||||
Loans held for sale, at lower of cost or fair value | 9,387 | — | 9,387 | — | Other real estate owned | $ | 40,723 | $ | — | $ | — | $ | 40,723 | |||||||||||||||||||||||||||||
Impaired loans | 154,512 | — | — | 154,512 | ||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | Loans held for sale, at lower of cost or fair value | 8,271 | — | 8,271 | — | |||||||||||||||||||||||||||||||||||||
Other real estate owned | $ | 36,879 | $ | — | $ | — | $ | 36,879 | The valuation techniques and significant unobservable inputs used to measure Level 3 fair value measurements at September 30, 2014 were as follows: | |||||||||||||||||||||||||||||||||
Impaired loans | 111,265 | — | — | 111,265 | ||||||||||||||||||||||||||||||||||||||
Loans held for sale, at lower of cost or fair value | 10,381 | — | 10,381 | — | ||||||||||||||||||||||||||||||||||||||
Financial | Fair Value of | Valuation | Unobservable | Range | Weighted | |||||||||||||||||||||||||||||||||||||
The valuation techniques and significant unobservable inputs used to measure Level 3 fair value measurements at December 31, 2014 were as follows (in thousands): | Instrument | Assets / (Liabilities) | Technique(s) | Input | Average | |||||||||||||||||||||||||||||||||||||
at September 30, | ||||||||||||||||||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||||||||||||
Financial Instrument | Fair Value of | Valuation | Unobservable Input | Range | Weighted | Other real estate owned | $ | 36,879 | Appraisal value | Property specific adjustment | N/A | N/A | ||||||||||||||||||||||||||||||
Assets / | Technique(s) | Average | Impaired loans | $ | 111,265 | Appraisal value | Property specific adjustment | N/A | N/A | |||||||||||||||||||||||||||||||||
(Liabilities) at | Fair Value of Financial Instruments | |||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | For financial instruments that have quoted market prices, those quotes are used to determine fair value. Financial instruments that have no defined maturity, have a remaining maturity of 180 days or less, or reprice frequently to a market rate are assumed to have a fair value that approximates carrying value, after taking into consideration any applicable credit risk. If no market quotes are available, financial instruments are valued by discounting the expected cash flows using an estimated current market interest rate for the financial instrument. | |||||||||||||||||||||||||||||||||||||||||
Other real estate owned | $ | 7,164 | Appraisal value | Property specific adjustment | N/A | N/A | The short maturity of the Company’s assets and liabilities results in having a significant number of financial instruments whose fair value equals or closely approximates carrying value. Such financial instruments are reported in the following consolidated balance sheet categories: cash and due from banks, securities sold under agreements to repurchase, and accrued interest. | |||||||||||||||||||||||||||||||||||
Impaired loans | $ | 152,312 | Appraisal value | Property specific adjustment | N/A | N/A | Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Significant assets and liabilities that are not considered financial instruments include premises and equipment, deferred income taxes, goodwill, and core deposit and other intangibles. In addition, the tax ramifications related to the realization of unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates. | |||||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||||||||||||||||||||||
For financial instruments that have quoted market prices, those quotes are used to determine fair value. Financial instruments that have no defined maturity, have a remaining maturity of 180 days or less, or reprice frequently to a market rate are assumed to have a fair value that approximates carrying value, after taking into consideration any applicable credit risk. If no market quotes are available, financial instruments are valued by discounting the expected cash flows using an estimated current market interest rate for the financial instrument. | Off-balance sheet instruments (commitments to extend credit and standby letters of credit) are generally short-term and at variable rates. Therefore, both the carrying amount and the estimated fair value associated with these instruments are immaterial. Fair values for balance sheet instruments as of September 30, 2014 and 2013, are as follows (in thousands): | |||||||||||||||||||||||||||||||||||||||||
The short maturity of the Company’s assets and liabilities results in having a significant number of financial instruments whose fair value equals or closely approximates carrying value. Such financial instruments are reported in the following consolidated balance sheet categories: cash and due from banks, securities sold under agreements to repurchase, and accrued interest. | ||||||||||||||||||||||||||||||||||||||||||
Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Significant assets and liabilities that are not considered financial instruments include premises and equipment, deferred income taxes, goodwill, and core deposit and other intangibles. In addition, the tax ramifications related to the realization of unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates. | ||||||||||||||||||||||||||||||||||||||||||
Off-balance sheet instruments (commitments to extend credit and standby letters of credit) are generally short-term and at variable rates. Therefore, both the carrying amount and the estimated fair value associated with these instruments are immaterial. Fair values for balance sheet instruments as of December 31, 2014 and September 30, 2014, are as follows (in thousands): | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||
Level in | Carrying | Fair Value | Carrying | Fair Value | ||||||||||||||||||||||||||||||||||||||
Fair Value | Amount | Amount | ||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | September 30, 2014 | Hierarchy | ||||||||||||||||||||||||||||||||||||||||
Level in Fair | Carrying | Fair Value | Carrying | Fair Value | Assets | |||||||||||||||||||||||||||||||||||||
Value | Amount | Amount | Cash and due from banks | Level 1 | $ | 256,639 | $ | 256,639 | $ | 282,157 | $ | 282,157 | ||||||||||||||||||||||||||||||
Hierarchy | Loans, net excluding fair valued loans and loans held for sale | Level 3 | 5,744,157 | 5,734,274 | 5,456,676 | 5,420,963 | ||||||||||||||||||||||||||||||||||||
Assets | Accrued interest receivable | Level 2 | 42,609 | 42,609 | 41,065 | 41,065 | ||||||||||||||||||||||||||||||||||||
Cash and due from banks | Level 1 | $ | 428,186 | $ | 428,186 | $ | 256,639 | $ | 256,639 | Federal Home Loan Bank stock | Level 2 | 35,922 | 35,922 | 28,765 | 28,765 | |||||||||||||||||||||||||||
Loans, net excluding fair valued loans and loans held for sale | Level 3 | 5,902,227 | 5,887,141 | 5,744,157 | 5,734,274 | |||||||||||||||||||||||||||||||||||||
Accrued interest receivable | Level 2 | 38,201 | 38,201 | 42,609 | 42,609 | Liabilities | ||||||||||||||||||||||||||||||||||||
Federal Home Loan Bank stock | Level 2 | 35,869 | 35,869 | 35,922 | 35,922 | Deposits | Level 3 | $ | 7,052,180 | $ | 7,057,591 | $ | 6,948,208 | $ | 6,959,936 | |||||||||||||||||||||||||||
Liabilities | FHLB advances, related party notes payable, and other borrowings | Level 2 | 616,389 | 604,615 | 431,902 | 421,593 | ||||||||||||||||||||||||||||||||||||
Deposits | Level 3 | $ | 7,239,206 | $ | 7,241,999 | $ | 7,052,180 | $ | 7,057,591 | Securities sold under repurchase agreements | Level 2 | 161,687 | 161,687 | 217,562 | 217,562 | |||||||||||||||||||||||||||
FHLB advances, related party notes payable, and other borrowings | Level 2 | 616,380 | 607,884 | 616,389 | 604,615 | Accrued interest payable | Level 2 | 5,273 | 5,273 | 6,790 | 6,790 | |||||||||||||||||||||||||||||||
Securities sold under repurchase agreements | Level 2 | 190,585 | 190,585 | 161,687 | 161,687 | Subordinated debentures | Level 2 | 56,083 | 56,084 | 56,083 | 56,084 | |||||||||||||||||||||||||||||||
Accrued interest payable | Level 2 | 4,812 | 4,812 | 5,273 | 5,273 | The following methods and assumptions were used in estimating the fair value of financial instruments that were not previously disclosed: | ||||||||||||||||||||||||||||||||||||
Subordinated debentures | Level 2 | 56,083 | 56,083 | 56,083 | 56,084 | Cash and cash due from banks: Due to the short term nature of cash and cash equivalents, the estimated fair value is equal to the carrying value and they are categorized as a Level 1 fair value measurement. | ||||||||||||||||||||||||||||||||||||
Loans, net excluding fair valued loans and loans held for sale: The fair value of the loan portfolio is estimated using observable inputs including estimated cash flows, and discount rates based on interest rates currently being offered for loans with similar terms, to borrowers of similar credit quality. Loans held for investment are categorized as a Level 3 fair value measurement. | ||||||||||||||||||||||||||||||||||||||||||
The following methods and assumptions were used in estimating the fair value of financial instruments that were not previously disclosed: | Accrued interest receivable: Due to the nature of accrued interest receivable, the estimated fair value is equal to the carrying value and they are categorized as a Level 2 fair value measurement. | |||||||||||||||||||||||||||||||||||||||||
Cash and cash due from banks: Due to the short term nature of cash and cash equivalents, the estimated fair value is equal to the carrying value and they are categorized as a Level 1 fair value measurement. | Federal Home Loan Bank stock: The carrying amount of FHLB stock approximates its fair value as it can only be redeemed with the FHLB at par value. Federal Home Loan Bank stock has been categorized as a Level 2 fair value measurement. | |||||||||||||||||||||||||||||||||||||||||
Loans, net excluding fair valued loans and loans held for sale: The fair value of the loan portfolio is estimated using observable inputs including estimated cash flows, and discount rates based on interest rates currently being offered for loans with similar terms, to borrowers of similar credit quality. Loans held for investment are categorized as a Level 3 fair value measurement. | Deposits: The estimated fair value of deposits with no stated maturity, such as non-interest bearing demand deposits, savings, NOW, and money market accounts, is equal to the amount payable on demand. The fair value of interest-bearing time deposits is based on the discounted value of contractual cash flows of such deposits, taking into account the option for early withdrawal. The discount rate is estimated using the rates offered by the Company, at the respective measurement dates, for deposits of similar maturities. Deposits have been categorized as a Level 3 fair value measurement. | |||||||||||||||||||||||||||||||||||||||||
Accrued interest receivable: Due to the nature of accrued interest receivable, the estimated fair value is equal to the carrying value and they are categorized as a Level 2 fair value measurement. | FHLB advances, related party notes payable, and other borrowings: The fair value of FHLB advances, related party notes payable, and other borrowings is estimated using discounted cash flow analysis, based on current incremental borrowing rates for similar types of borrowing arrangements. In the absence of a reasonably precise methodology to determine the fair value of the credit agreement, carrying value has been used to represent fair value. FHLB advances, related party notes payable, and other borrowings have been categorized as a Level 2 fair value measurement. | |||||||||||||||||||||||||||||||||||||||||
Federal Home Loan Bank stock: The carrying amount of FHLB stock approximates its fair value as it can only be redeemed with the FHLB at par value. Federal Home Loan Bank stock has been categorized as a Level 2 fair value measurement. | Securities sold under repurchase agreements: The Company’s repurchase agreements are overnight transactions that mature the day after the transaction, and as a result of this short-term nature, the estimated fair value equals the carrying value. Securities sold under repurchase agreements have been categorized as a Level 2 fair value measurement. | |||||||||||||||||||||||||||||||||||||||||
Deposits: The estimated fair value of deposits with no stated maturity, such as non-interest bearing demand deposits, savings, NOW, and money market accounts, is equal to the amount payable on demand. The fair value of interest-bearing time deposits is based on the discounted value of contractual cash flows of such deposits, taking into account the option for early withdrawal. The discount rate is estimated using the rates offered by the Company, at the respective measurement dates, for deposits of similar maturities. Deposits have been categorized as a Level 3 fair value measurement. | Accrued interest payable: Due to the nature of accrued interest payable, the estimated fair value is equal to the carrying value and they are categorized as a Level 2 fair value measurement. | |||||||||||||||||||||||||||||||||||||||||
FHLB advances, related party notes payable, and other borrowings: The fair value of FHLB advances, related party notes payable, and other borrowings is estimated using discounted cash flow analysis, based on current incremental borrowing rates for similar types of borrowing arrangements. In the absence of a reasonably precise methodology to determine the fair value of the credit agreement, carrying value has been used to represent fair value. FHLB advances, related party notes payable, and other borrowings have been categorized as a Level 2 fair value measurement. | Subordinated Debentures: The fair value of subordinated debentures is estimated using discounted cash flow analysis, based on current incremental debt rates. In the absence of a reasonably precise methodology to determine the fair value of the credit agreement, carrying value has been used to represent fair value. Subordinated debentures have been categorized as a Level 2 fair value measurement. | |||||||||||||||||||||||||||||||||||||||||
Securities sold under repurchase agreements: The Company’s repurchase agreements are overnight transactions that mature the day after the transaction, and as a result of this short-term nature, the estimated fair value equals the carrying value. Securities sold under repurchase agreements have been categorized as a Level 2 fair value measurement. | ||||||||||||||||||||||||||||||||||||||||||
Accrued interest payable: Due to the nature of accrued interest payable, the estimated fair value is equal to the carrying value and they are categorized as a Level 2 fair value measurement. | ||||||||||||||||||||||||||||||||||||||||||
Subordinated Debentures: The fair value of subordinated debentures is estimated using discounted cash flow analysis, based on current incremental debt rates. Subordinated debentures have been categorized as a Level 2 fair value measurement. |
Earnings_per_Share
Earnings per Share | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||||||||||
Earnings per Share | 18. Earnings per Share | 23. Earnings per Share | ||||||||||||||||||||
Basic and diluted earnings per share are calculated using a two-class method. Under the two-class method, basic earnings per common share is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period, excluding outstanding non-vested restricted stock awards. Diluted earnings per common share is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding determined for the basic earnings per share calculation plus the dilutive effect of stock compensation using the treasury stock method. | Basic earnings per share computations for the years ended September 30, 2014 and 2013 were determined by dividing net income by the weighted-average number of common shares outstanding during the years then ended. The Company had no potentially dilutive securities outstanding during the periods presented. | |||||||||||||||||||||
The following information was used in the computation of basic earnings per share (EPS) for the three months ended December 31, 2014 and 2013 (in thousands except share data). | The following information was used in the computation of basic earnings per share (EPS) for the years ended September 30, 2014 and 2013 (in thousands except share data). | |||||||||||||||||||||
Three Months Ended | 2014 | 2013 | 2012 | |||||||||||||||||||
December 31, | Basic earnings per share computation: | |||||||||||||||||||||
2014 | 2013 | Net income | $ | 104,952 | $ | 96,243 | $ | 72,995 | ||||||||||||||
Net income | $ | 26,697 | $ | 28,604 | Weighted average common shares outstanding | 57,886,114 | 57,886,114 | 57,886,114 | ||||||||||||||
Weighted average common shares outstanding | 57,895,783 | 57,886,114 | ||||||||||||||||||||
Dilutive effect of stock based compensation | — | — | Basic EPS | $ | 1.81 | $ | 1.66 | $ | 1.26 | |||||||||||||
Weighted average common shares outstanding for diluted earnings per share calculation | $ | 57,895,783 | $ | 57,886,114 | ||||||||||||||||||
Basic earnings per share | $ | 0.46 | $ | 0.49 | ||||||||||||||||||
Diluted earnings per share | $ | 0.46 | $ | 0.49 | ||||||||||||||||||
The Company had 219,534 and 0 shares of unvested restricted stock as of December 31, 2014 and 2013, respectively, that were not included in the computation of diluted earnings per common share because performance conditions for vesting had not been met. The Company had no anti-dilutive stock awards outstanding as of December 31, 2014. |
Parent_Company_Only_Financial_
Parent Company Only Financial Statements | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||
Parent Company Only Financial Statements | 24. Parent Company Only Financial Statements | ||||||||||||
Parent company only financial information for Great Western Bancorp, Inc. is summarized as follows: | |||||||||||||
Condensed Balance Sheets | |||||||||||||
(In thousands) | |||||||||||||
September 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Assets | |||||||||||||
Cash and due from banks | $ | 5,753 | $ | 6,710 | |||||||||
Investment in subsidiaries | 1,508,175 | 1,503,778 | |||||||||||
Investment in affiliates | 1,683 | 1,683 | |||||||||||
Accrued interest receivable | 2 | 2 | |||||||||||
Net deferred tax assets | 416 | 413 | |||||||||||
Other assets | 7,469 | 14,521 | |||||||||||
Total assets | $ | 1,523,498 | $ | 1,527,107 | |||||||||
Liabilities and stockholder’s equity | |||||||||||||
Related party notes payable | $ | 41,295 | $ | 41,295 | |||||||||
Subordinated debentures | 56,083 | 56,083 | |||||||||||
Accrued interest payable | 115 | 113 | |||||||||||
Income taxes payable | 4,915 | 12,390 | |||||||||||
Accrued expenses and other liabilities | — | 12 | |||||||||||
Total liabilities | 102,408 | 109,893 | |||||||||||
Stockholder’s equity | |||||||||||||
Common stock | 579 | 579 | |||||||||||
Additional paid-in capital | 1,260,124 | 1,260,124 | |||||||||||
Retained earnings | 166,544 | 163,592 | |||||||||||
Accumulated other comprehensive income (loss) | (6,157 | ) | (7,081 | ) | |||||||||
Total stockholder’s equity | 1,421,090 | 1,417,214 | |||||||||||
Total liabilities and stockholder’s equity | $ | 1,523,498 | $ | 1,527,107 | |||||||||
Condensed Statements of Comprehensive Income | |||||||||||||
(In thousands) | |||||||||||||
Years Ended September 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income | |||||||||||||
Dividends from subsidiary bank | $ | 105,000 | $ | 49,900 | $ | 45,800 | |||||||
Dividends on securities | 257 | 112 | 264 | ||||||||||
Other | 40 | 40 | 66 | ||||||||||
Total income | 105,297 | 50,052 | 46,130 | ||||||||||
Expenses | |||||||||||||
Interest on related party notes payable | 921 | 950 | 1,007 | ||||||||||
Interest on subordinated debentures | 1,315 | 1,347 | 1,436 | ||||||||||
Salaries and employee benefits | 661 | 906 | 1,655 | ||||||||||
Professional fees | 1,080 | 135 | 120 | ||||||||||
Other | 1,834 | 2,388 | 1,770 | ||||||||||
Total expense | 5,811 | 5,726 | 5,988 | ||||||||||
Income before income tax and equity in undistributed net income of subsidiaries | 99,486 | 44,326 | 40,142 | ||||||||||
Benefit for income taxes | 1,993 | 1,955 | 2,057 | ||||||||||
Income before equity in undistributed net income of subsidiaries | 101,479 | 46,281 | 42,199 | ||||||||||
Equity in undistributed net income of subsidiaries | 3,473 | 49,962 | 30,796 | ||||||||||
Net income | $ | 104,952 | $ | 96,243 | $ | 72,995 | |||||||
Condensed Statements of Cash Flows | |||||||||||||
(In thousands) | |||||||||||||
Year Ended September 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Operating Activities | |||||||||||||
Net income | $ | 104,952 | $ | 96,243 | $ | 72,995 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||
Depreciation and amortization | — | — | 1 | ||||||||||
Deferred income taxes | (7,478 | ) | 750 | (1,817 | ) | ||||||||
Changes in: | |||||||||||||
Other assets | 7,052 | (875 | ) | 9,213 | |||||||||
Accrued interest and other liabilities | (10 | ) | (558 | ) | 369 | ||||||||
Equity in undistributed net income of subsidiaries | (3,473 | ) | (49,962 | ) | (30,796 | ) | |||||||
Net cash provided by operating activities | 101,043 | 45,598 | 49,965 | ||||||||||
Financing Activities | |||||||||||||
Net change in note payable to NAB | — | — | (7,000 | ) | |||||||||
Dividends paid | (102,000 | ) | (41,400 | ) | (41,800 | ) | |||||||
Net cash used in financing activities | (102,000 | ) | (41,400 | ) | (48,800 | ) | |||||||
Change in cash and due from banks | (957 | ) | 4,198 | 1,165 | |||||||||
Cash and due from banks, beginning of year | 6,710 | 2,512 | 1,347 | ||||||||||
Cash and due from banks, end of year | $ | 5,753 | $ | 6,710 | $ | 2,512 | |||||||
Selected_Quarterly_Financial_D
Selected Quarterly Financial Data (unaudited) | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Selected Quarterly Financial Data (unaudited) | 25. Selected Quarterly Financial Data (unaudited) | ||||||||||||||||
The following is a summary of quarterly results (in thousands except per share data): | |||||||||||||||||
Fiscal Year 2014 | |||||||||||||||||
Fourth | Third Quarter | Second Quarter | First Quarter | ||||||||||||||
Quarter | |||||||||||||||||
Interest and dividend income | $ | 90,941 | $ | 87,878 | $ | 84,886 | $ | 88,771 | |||||||||
Interest expense | 7,715 | 7,778 | 7,929 | 8,630 | |||||||||||||
Net interest income | 83,226 | 80,100 | 76,957 | 80,141 | |||||||||||||
Provision for loan losses | 2,749 | 1,500 | (2,690 | ) | (875 | ) | |||||||||||
Noninterest income | 8,501 | 10,314 | 10,140 | 10,826 | |||||||||||||
Noninterest expense | 48,318 | 54,278 | 49,327 | 48,299 | |||||||||||||
Net income | $ | 27,875 | $ | 22,502 | $ | 25,971 | $ | 28,604 | |||||||||
Earnings per share | $ | 0.48 | $ | 0.39 | $ | 0.45 | $ | 0.49 | |||||||||
Fiscal Year 2013 | |||||||||||||||||
Fourth | Third Quarter | Second Quarter | First Quarter | ||||||||||||||
Quarter | |||||||||||||||||
Interest and dividend income | $ | 87,092 | $ | 88,156 | $ | 85,581 | $ | 88,805 | |||||||||
Interest expense | 8,812 | 9,206 | 9,942 | 11,201 | |||||||||||||
Net interest income | 78,280 | 78,950 | 75,639 | 77,604 | |||||||||||||
Provision for loan losses | (2,460 | ) | 3,500 | 534 | 10,000 | ||||||||||||
Noninterest income | 12,802 | 12,934 | 15,933 | 18,163 | |||||||||||||
Noninterest expense | 53,003 | 50,277 | 53,780 | 51,530 | |||||||||||||
Net income | $ | 26,323 | $ | 24,318 | $ | 23,918 | $ | 21,684 | |||||||||
Earnings per share | $ | 0.46 | $ | 0.42 | $ | 0.41 | $ | 0.37 |
Changes_in_the_Presentation_of
Changes in the Presentation of Results for Loans at Fair Value and Related Derivatives | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Accounting Changes and Error Corrections [Abstract] | |||||||||||||||||
Changes in the Presentation of Results for Loans at Fair Value and Related Derivatives | 26. Changes in the Presentation of Results for Loans at Fair Value and Related Derivatives | ||||||||||||||||
In the normal course of business, the Company manages interest rate risk by entering into fixed-to-floating interest rate swaps related to all fixed-rate loans with original terms longer than five years. The Company has elected to account for these loans using the Fair Value Option. During the first quarter of fiscal year 2015, the Company identified an immaterial error in its reporting of one aspect of the derivatives related to these loans and also elected to change the presentation of the reported changes in fair value of these loans and related derivatives, each as discussed below. The Company’s previous consolidated financial statements have been corrected or reclassified, as appropriate, to be consistent with the accompanying consolidated financial statements. | |||||||||||||||||
During the first quarter of fiscal year 2015, the Company identified that the current realized gain (loss) on the derivatives related to fair value loans has been improperly recorded as loan interest income instead of being presented in the same line item as the unrealized gain (loss) on the derivatives. As such, the realized gain (loss) on the derivatives related to fair value loans has been moved from loan interest income to “Net realized and unrealized gain (loss) on derivatives” within noninterest income. The Company has determined these corrections to be immaterial to the prior period financial statements and there was no effect on net income, equity or cash flows. The following table reflects the impact of the matter described above on previously filed financial statements: | |||||||||||||||||
Previously Reported | Currently Reported | ||||||||||||||||
Interest Income | Noninterest Income | ||||||||||||||||
Twelve months ended September 30, 2014 | |||||||||||||||||
Realized gain (loss) on derivatives | $ | (18,255 | ) | $ | (18,255 | ) | |||||||||||
Twelve months ended September 30, 2013 | |||||||||||||||||
Realized gain (loss) on derivatives | $ | (14,217 | ) | $ | (14,217 | ) | |||||||||||
Twelve months ended September 30, 2012 | |||||||||||||||||
Realized gain (loss) on derivatives | $ | (9,931 | ) | $ | (9,931 | ) | |||||||||||
Additionally, the Company previously reported the changes in fair value of these loans related to both interest rates and credit quality in interest income and the Company presented the changes in fair value of the derivatives in noninterest expense. Changes in fair value related to interest rates on the loans and changes in fair value of the derivatives were completely offset in any reporting period. To improve the clarity and comparability of its financial statements, the Company has elected to change its presentation of the changes in fair value related to these loans and derivatives by presenting these changes in two separate line items in noninterest income. As such, changes in fair value related to these loans, both related to interest rates and credit quality, is presented in “Net increase (decrease) in fair value of loans at fair value” within noninterest income, and changes in fair value related to these derivatives is presented in “Net realized and unrealized gain (loss) on derivatives” within noninterest income. The following table reflects the impact of the matter described above on previously filed financial statements: | |||||||||||||||||
Previously Reported | Currently Reported | ||||||||||||||||
Interest | Noninterest | Noninterest Income | |||||||||||||||
Income | Expense | ||||||||||||||||
Twelve months ended September 30, 2014 | |||||||||||||||||
Unrealized gain (loss) on derivatives | $ | — | $ | 11,922 | $ | — | $ | 11,922 | |||||||||
Loan fair value change related to interest rates | (11,922 | ) | — | (11,922 | ) | — | |||||||||||
Loan fair value change related to credit quality | 18 | — | 18 | — | |||||||||||||
$ | (11,904 | ) | $ | 11,922 | $ | (11,904 | ) | $ | 11,922 | ||||||||
Twelve months ended September 30, 2013 | |||||||||||||||||
Unrealized gain (loss) on derivatives | $ | — | $ | (40,305 | ) | $ | — | $ | (40,305 | ) | |||||||
Loan fair value change related to interest rates | 40,305 | — | 40,305 | — | |||||||||||||
Loan fair value change related to credit quality | 855 | — | 855 | — | |||||||||||||
$ | 41,160 | $ | (40,305 | ) | $ | 41,160 | $ | (40,305 | ) | ||||||||
Twelve months ended September 30, 2012 | |||||||||||||||||
Unrealized gain (loss) on derivatives | $ | — | $ | 19,369 | $ | — | $ | 19,369 | |||||||||
Loan fair value change related to interest rates | (19,369 | ) | — | (19,369 | ) | — | |||||||||||
Loan fair value change related to credit quality | 4,276 | — | 4,276 | — | |||||||||||||
$ | (15,093 | ) | $ | 19,369 | $ | (15,093 | ) | $ | 19,369 | ||||||||
These reclassifications have been reflected in the consolidated statements of comprehensive income and in Notes 9 and 10 of the consolidated financial statements. |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Accounting Policies [Abstract] | |||||||||||||||||
Basis of Presentation | 1. Basis of Presentation | ||||||||||||||||
Great Western Bancorp, Inc. (the “Company”) is a bank holding company organized under the laws of Delaware. The primary business of the Company is ownership of its wholly owned subsidiary, Great Western Bank (the “Bank”). The Bank is a full-service regional bank focused on relationship-based business and agribusiness banking in Arizona, Colorado, Iowa, Kansas, Missouri, Nebraska, and South Dakota. The Company and the Bank are subject to the regulation of certain federal and/or state agencies and undergo periodic examinations by those regulatory authorities. Substantially all of the Company’s income is generated from banking operations. The Company was a majority owned indirect subsidiary of National Australia Bank Limited (“NAB”) at December 31, 2014. | |||||||||||||||||
The accompanying unaudited consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and reflect all adjustments that are, in the opinion of management, necessary for the fair presentation of the financial position and results of operations for the periods presented. All such adjustments are of a normal recurring nature other than the reclassifications outlined below. | |||||||||||||||||
The unaudited interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ending September 30, 2014, which includes a description of significant accounting policies. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the year or any other period. | |||||||||||||||||
The accompanying unaudited consolidated financial statements include the accounts and results of operations of the Company and its subsidiaries after elimination of all significant intercompany accounts and transactions. The preparation of unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates. | |||||||||||||||||
The Company has evaluated all events or transactions that occurred through the date the Company issued these financial statements. During this period, the Company did not have any material recognizable or non-recognizable subsequent events other than outlined below. | |||||||||||||||||
On January 28, 2015, the board of directors of the Company declared a dividend of $0.12 per common share payable on February 23, 2015 to owners of record as of close of business on February 12, 2015. | |||||||||||||||||
Changes in the Presentation of Results for Loans at Fair Value and Related Derivatives | |||||||||||||||||
In the normal course of business, the Company manages interest rate risk by entering into fixed-to-floating interest rate swaps related to all fixed-rate loans with original terms longer than five years. The Company has elected to account for these loans using the Fair Value Option. During the first quarter of fiscal year 2015, the Company identified an immaterial error in its reporting of one aspect of the derivatives related to these loans and also elected to change the presentation of the reported changes in fair value of these loans and related derivatives, each as discussed below. The Company’s previous consolidated financial statements have been corrected or reclassified, as appropriate, to be consistent with the accompanying unaudited consolidated financial statements. | |||||||||||||||||
During the first quarter of fiscal year 2015, the Company identified that the current realized gain (loss) on the derivatives related to fair value loans has been improperly recorded as loan interest income instead of being presented in the same line item as the unrealized gain (loss) on the derivatives. As such, the realized gain (loss) on the derivatives related to fair value loans has been moved from loan interest income to “Net realized and unrealized gain (loss) on derivatives” within noninterest income. The Company has determined these corrections to be immaterial to the prior period financial statements and there was no effect on net income, equity or cash flows. The following table reflects the impact of the matter described above on previously filed financial statements: | |||||||||||||||||
Previously Reported | Currently Reported | ||||||||||||||||
Interest Income | Noninterest Income | ||||||||||||||||
Twelve months ended September 30, 2014 | |||||||||||||||||
Realized gain (loss) on derivatives | $ | (18,255 | ) | $ | (18,255 | ) | |||||||||||
Twelve months ended September 30, 2013 | |||||||||||||||||
Realized gain (loss) on derivatives | $ | (14,217 | ) | $ | (14,217 | ) | |||||||||||
Twelve months ended September 30, 2012 | |||||||||||||||||
Realized gain (loss) on derivatives | $ | (9,931 | ) | $ | (9,931 | ) | |||||||||||
Additionally, the Company previously reported the changes in fair value of these loans related to both interest rates and credit quality in interest income and the Company presented the changes in fair value of the derivatives in noninterest expense. Changes in fair value related to interest rates on the loans and changes in fair value of the derivatives were completely offset in any reporting period. To improve the clarity and comparability of its financial statements, the Company has elected to change its presentation of the changes in fair value related to these loans and derivatives by presenting these changes in two separate line items in noninterest income. As such, changes in fair value related to these loans, both related to interest rates and credit quality, is presented in “Net increase (decrease) in fair value of loans at fair value” within noninterest income, and changes in fair value related to these derivatives is presented in “Net realized and unrealized gain (loss) on derivatives” within noninterest income. The following table reflects the impact of the matter described above on previously filed financial statements: | |||||||||||||||||
Previously Reported | Currently Reported | ||||||||||||||||
Interest | Noninterest | Noninterest Income | |||||||||||||||
Income | Expense | ||||||||||||||||
Twelve months ended September 30, 2014 | |||||||||||||||||
Unrealized gain (loss) on derivatives | $ | — | $ | 11,922 | $ | — | $ | 11,922 | |||||||||
Loan fair value change related to interest rates | (11,922 | ) | — | (11,922 | ) | — | |||||||||||
Loan fair value change related to credit quality | 18 | — | 18 | — | |||||||||||||
$ | (11,904 | ) | $ | 11,922 | $ | (11,904 | ) | $ | 11,922 | ||||||||
Twelve months ended September 30, 2013 | |||||||||||||||||
Unrealized gain (loss) on derivatives | $ | — | $ | (40,305 | ) | $ | — | $ | (40,305 | ) | |||||||
Loan fair value change related to interest rates | 40,305 | — | 40,305 | — | |||||||||||||
Loan fair value change related to credit quality | 855 | — | 855 | — | |||||||||||||
$ | 41,160 | $ | (40,305 | ) | $ | 41,160 | $ | (40,305 | ) | ||||||||
Twelve months ended September 30, 2012 | |||||||||||||||||
Unrealized gain (loss) on derivatives | $ | — | $ | 19,369 | $ | — | $ | 19,369 | |||||||||
Loan fair value change related to interest rates | (19,369 | ) | — | (19,369 | ) | — | |||||||||||
Loan fair value change related to credit quality | 4,276 | — | 4,276 | — | |||||||||||||
$ | (15,093 | ) | $ | 19,369 | $ | (15,093 | ) | $ | 19,369 | ||||||||
New_Accounting_Pronouncements
New Accounting Pronouncements | 3 Months Ended |
Dec. 31, 2014 | |
Accounting Changes and Error Corrections [Abstract] | |
New Accounting Pronouncements | 2. New Accounting Pronouncements |
There have been no new applicable accounting pronouncements issued during the three months ended December 31, 2014. |
StockBased_Compensation
Stock-Based Compensation | 3 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||
Stock-Based Compensation | 16. Stock-Based Compensation | ||||||||
On September 26, 2014, the Board of Directors adopted, and on October 10, 2014 NAB, our controlling shareholder, approved the Great Western Bancorp, Inc. 2014 Omnibus Incentive Compensation Plan (the “2014 Plan”), the Great Western Bancorp, Inc. 2014 Non-Employee Director Plan (the “2014 Director Plan”), and the Great Western Bancorp, Inc. Executive Incentive Compensation Plan (the “Bonus Plan”), collectively (“the Plans”), which provide for the issuance of restricted share units and performance based share units to certain officers, employees and directors of the Company. The Plans were primarily established to enhance the Company’s ability to attract, retain and motivate employees. The Company’s Board of Directors, the Compensation Committee of the Board of Directors (“Compensation Committee”), or executive management upon delegation of the Compensation Committee has exclusive authority to select the employees and others, including directors, to receive the awards and to establish the terms and conditions of each award made pursuant to the Company’s stock-based compensation plans. | |||||||||
Stock units issued under the Company’s restricted and performance based stock plans may not be sold or otherwise transferred until the vesting period (typically 3 years) has been met and/or performance objectives have been obtained. During the vesting periods, participants do not have voting rights and dividends are accumulated until the time upon which the award vests. Upon specified events, as defined in the Plans, stock unit awards that have not vested and/or performance hurdles that have not been met will be forfeited. | |||||||||
Based on the substantive terms of each award, restricted and performance-based awards are classified as equity awards and accounted for under the Treasury method. The fair value of equity-classified awards is based on the market price of the stock on the measurement date and is amortized as compensation expense on a straight-line basis over the vesting or performance period. | |||||||||
Stock based compensation is recognized based on the number of awards that are ultimately expected to vest. Forfeitures are estimated based on historical turnover experience of qualified employees. For performance-based stock awards, an estimate is made of the number of shares expected to vest as a result of actual performance against the performance targets to determine the amount of compensation expense to be recognized. The estimate is reevaluated quarterly and total compensation expense is adjusted for any change in the current period. Stock-based compensation expense is included in salaries and employee benefits expense in the consolidated statements of comprehensive income. For the three months ended December 31, 2014 and 2013, stock compensation expense was $0.5 million and $0, respectively. Related income tax benefits recognized for the three months ended December 31, 2014 and 2013 were $0.2 million and $0, respectively. | |||||||||
The following is a summary of the Plans’ restricted share and performance-based stock award activity as of December 31, 2014: | |||||||||
Common Shares | Weighted-Average | ||||||||
Measurement Date | |||||||||
Fair Value | |||||||||
Restricted Shares | |||||||||
Restricted stock, beginning of fiscal year | — | $ | — | ||||||
Granted | 78,063 | 18 | |||||||
Vested | (12,221 | ) | 18 | ||||||
Forfeited | — | — | |||||||
Canceled | — | — | |||||||
Restricted stock, end of period | 65,842 | $ | 18 | ||||||
Performance Shares | |||||||||
Restricted stock, beginning of fiscal year | — | $ | — | ||||||
Granted | 220,579 | 18 | |||||||
Vested | — | — | |||||||
Forfeited | (1,045 | ) | 18 | ||||||
Canceled | — | — | |||||||
Restricted stock, end of period | 219,534 | $ | 18 | ||||||
The number of performance shares granted is reflected in the above table at the 100% target performance level. The actual performance-based award payouts will vary based on the achievement of the pre-established targets and can range from0% to 150% of the target amount. The outstanding number of performance shares reflected in the table represents the number of shares expected to be awarded based on estimated achievement of the goals as of year end. However, at December 31, 2014, the maximum number of performance-based shares that could be issued if performance is attained at 150% of target based on the grants made to date was approximately 329,301 shares. | |||||||||
As of December 31, 2014, there was $2.7 million of unrecognized compensation cost related to nonvested restricted stock awards expected to be recognized over a period of 2.75 years. |
Nature_of_Operations_and_Summa1
Nature of Operations and Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Accounting Policies [Abstract] | |||||||
Nature of Operations | Nature of Operations | ||||||
Great Western Bancorp, Inc. (the “Company”) is a bank holding company organized under the laws of Delaware. The primary business of the Company is ownership of its wholly owned subsidiary, Great Western Bank (the “Bank”). The Bank is a full-service regional bank focused on relationship-based business and agri-business banking in Arizona, Colorado, Iowa, Kansas, Missouri, Nebraska, and South Dakota. The Company and the Bank are subject to the regulation of certain federal and/or state agencies and undergo periodic examinations by those regulatory authorities. Substantially all of the Company’s income is generated from banking operations. The Company is a wholly owned indirect subsidiary of National Australia Bank Limited (“NAB”) at September 30, 2014. | |||||||
Segment Reporting | Segment Reporting | ||||||
The “Segment Reporting” topic of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) requires that public companies report certain information about operating segments. It also requires that public companies report certain information about their products and services, the geographic areas in which they operate, and their major customers. The Company is a holding company for a regional bank, which offers a wide array of products and services to its customers. Pursuant to its banking strategy, emphasis is placed on building relationships with its customers, as opposed to building specific lines of business. As a result, the Company is not organized and does not allocate resources around discernible lines of business or geographies and prefers to work as an integrated unit to customize solutions for its customers, with business line and geographic emphasis and product offerings changing over time as needs and demands change. Therefore, the Company only reports one segment, which is consistent with the Company’s preparation of financial information that is evaluated regularly by management in deciding how to allocate resources and assess performance. | |||||||
Principles of Consolidation | Principles of Consolidation | ||||||
The accompanying consolidated financial statements include the accounts and results of the Company and its subsidiaries after elimination of all significant intercompany accounts and transactions. | |||||||
Basis of Presentation and Use of Estimates | Basis of Presentation and Use of Estimates | ||||||
The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. | |||||||
Certain items in prior periods have been reclassified to conform to the current presentation. | |||||||
Subsequent Events | Subsequent Events | ||||||
In July 2014, NAB formed the Company, as a wholly owned direct subsidiary of National Americas Holdings LLC, an indirect wholly owned subsidiary of NAB. In October 2014, a series of formation transactions were undertaken whereby the Company acquired Great Western Bancorporation, Inc. (“GWBI”), the former holding company of the Bank, for its carrying value from National Americas Investment, Inc., a wholly owned direct subsidiary of National Americas Holdings LLC, and GWBI was merged with and into the Company, with the Company continuing as the surviving corporation and succeeding to all of the assets, liabilities and business of GWBI. Prior to the formation transactions, the Company held no assets other than a $100 equity contribution, and the Company had not engaged in any business or other activities other than in connection with its formation and as the registrant for an initial public offering of common stock. Because GWBI and the Company were under common control at the time of the formation transactions, the Company’s acquisition of GWBI was accounted for as a transaction among entities under common control. The accompanying consolidated financial statements give effect retrospectively to the combination of the Company, GWBI and the Bank for all periods presented. | |||||||
In addition, the Company’s certificate of incorporation was amended on October 17, 2014 to give effect to a 578,861.14-for-1 split of its common stock, resulting in 57,886,114 shares of common stock being issued and outstanding. The consolidated financial statements give effect retrospectively to the stock split. | |||||||
On October 20, 2014, the Company completed an initial public offering (“IPO”) of 18,400,000 shares of its 57,886,114 outstanding shares of common stock. All of the shares sold in the offering were shares beneficially owned by NAB. NAB continues to beneficially own 39,486,114 shares of our common stock. NAB received all of the net proceeds of $312.16 million from the sale of the shares of common stock sold in the offering. The 18,400,000 shares sold in the offering are listed on the New York Stock Exchange (“NYSE”) under the symbol GWB. | |||||||
On September 26, 2014, the Board of Directors adopted, and on October 10, 2014 our shareholder, approved the Great Western Bancorp, Inc. 2014 Omnibus Incentive Compensation Plan (the “2014 Plan”), the Great Western Bancorp, Inc. 2014 Non-Employee Director Plan (the “2014 Director Plan”), and the Great Western Bancorp, Inc. Executive Incentive Compensation Plan (the “Bonus Plan”). Upon completion of our IPO, the Company granted a total of 216,724 shares of our common stock underlying performance stock units and 65,834 shares of our common stock underlying restricted stock units to certain of our employees. Additionally, a total of 6,666 shares of our common stock underlying performance stock units and 12,221 shares of our common stock underlying restricted stock units were granted to our independent non-employee directors and a non-employee director of our bank. | |||||||
The Company evaluated subsequent events through the date its consolidated financial statements were issued. Other than those events described above, there were no other material events that would require recognition in the consolidated financial statements or disclosure in the notes to the consolidated financial statements. | |||||||
Business Combinations | Business Combinations | ||||||
The Company accounts for business combinations under the acquisition method of accounting in accordance with ASC 805, “Business Combinations” (“ASC 805”). The Company recognizes the fair value of the assets acquired and liabilities assumed, immediately expenses transaction costs and accounts for restructuring plans separately from the business combination. There is no separate recognition of the acquired allowance for loan losses on the acquirer’s balance sheet as credit related factors are incorporated directly into the fair value of the loans recorded at the acquisition date. The excess of the cost of the acquisition over the fair value of the net tangible and intangible assets acquired is recorded as goodwill. Alternatively, a bargain purchase gain is recorded equal to the amount by which the fair value of assets purchased exceeds the fair value of liabilities assumed and consideration paid. | |||||||
Results of operations of the acquired business are included in the consolidated statements of comprehensive income from the effective date of acquisition. | |||||||
Cash and Due From Banks | Cash and Due From Banks | ||||||
For purposes of the consolidated statements of cash flows, management has defined cash and cash equivalents to include cash on hand, amounts due from banks (including cash items in process of clearing), and amounts held at other financial institutions with an initial maturity of 90 days or less. | |||||||
Securities | Securities | ||||||
The Company classifies securities upon purchase in one of three categories: trading, held-to-maturity, or available-for-sale. Debt and equity securities held for resale are classified as trading. Debt securities for which the Company has the ability and positive intent to hold until maturity are classified as held-to-maturity. All other securities are classified as available-for-sale as they may be sold prior to maturity in response to changes in the Company’s interest rate risk profile, funding needs, demand for collateralized deposits by public entities or other reasons. | |||||||
Held-to-maturity securities are stated at amortized cost, which represents actual cost adjusted for premium amortization and discount accretion. Available-for-sale securities are stated at fair value, with unrealized gains and losses, net of related taxes, included in stockholder’s equity as a component of accumulated other comprehensive income (loss). | |||||||
Trading securities are stated at fair value. Realized and unrealized gains and losses from sales and fair value adjustments of trading securities are included in other noninterest income in the consolidated statements of comprehensive income. | |||||||
Purchases and sales of securities are recognized on a trade date basis. The cost of securities sold is based on the specific identification method. | |||||||
Declines in the fair value of investment securities available for sale (with certain exceptions for debt securities noted below) that are deemed to be other-than-temporary are recognized in earnings as a realized loss, and a new cost basis for the securities is established. In evaluating other-than-temporary impairment, management considers the length of time and extent to which the fair value has been less than amortized cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value in the near term. Declines in the fair value of debt securities below amortized cost are deemed to be other-than-temporary in circumstances where: (1) the Company has the intent to sell a security; (2) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis; or (3) the Company does not expect to recover the entire amortized cost basis of the security. If the Company intends to sell a security or if it is more likely than not that the Company will be required to sell the security before recovery, an other-than-temporary impairment loss is recognized in earnings equal to the difference between the security’s amortized cost basis and its fair value. If the Company does not intend to sell the security or it is not more likely than not that it will be required to sell the security before recovery, the other-than-temporary impairment write-down is separated into an amount representing credit loss, which is recognized in earnings, and an amount related to all other factors, which is recognized in other comprehensive income. | |||||||
Interest and dividends, including amortization of premiums and accretion of discounts, are recognized as interest or dividend income when earned. Realized gains and losses on sales (using the specific identification method) and declines in value judged to be other-than-temporary are included in noninterest income in the consolidated statements of comprehensive income (loss). | |||||||
Federal Home Loan Bank Stock | Federal Home Loan Bank Stock | ||||||
Investments in the Federal Home Loan Bank (“FHLB”) stock are restricted as to redemption and are carried at cost. Investments in FHLB stock are reviewed regularly for possible other-than-temporary impairment, and the cost basis of this investment is reduced by any declines in value determined to be other-than-temporary. | |||||||
Loans | Loans | ||||||
The Company’s accounting method for loans differs depending on whether the loans were originated or purchased and, for purchased loans, whether the loans were acquired at a discount related to evidence of credit deterioration since date of origination. | |||||||
Originated Loans | |||||||
Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or pay-off, generally are reported at their outstanding principal balance, adjusted for charge-offs, the allowance for loan losses, and any unamortized deferred fees or costs. Other fees, not associated with originating a loan are recognized as fee income when earned. | |||||||
Interest income on loans is accrued daily on the outstanding balances. Accrual of interest is discontinued when management believes, after considering collection efforts and other factors, the borrower’s financial condition is such that collection of interest is doubtful. Generally, when loans are placed on nonaccrual status, interest receivable is reversed against interest income in the current period. Interest payments received thereafter are applied as a reduction to the remaining principal balance as long as concern exists as to the ultimate collection of the principal. Loans are removed from nonaccrual status when they become current as to both principal and interest and concern no longer exists as to the collectability of principal and interest. | |||||||
The Company has elected to measure certain long-term loans and written loan commitments at fair value to assist in managing interest rate risk for longer-term loans. Fair value loans are fixed-rate loans having original maturities of 5 years or greater (typically between 5 and 15 years) to our business and agribusiness banking customers to assist them in facilitating their risk management strategies. The fair value option was elected upon the origination or acquisition of these loans and written loan commitments. Interest income is recognized in the same manner on loans reported at fair value as on non-fair value loans, except in regard to origination fees and costs which are recognized immediately upon closing. The changes in fair value of long-term loans and written loan commitments at fair value are reported in noninterest income. | |||||||
For loans held for sale, loan fees charged or received on origination, net of certain direct loan origination costs, are recognized in income when the related loan is sold. For loans held for investment, loan fees, net of certain direct loan origination costs, are deferred, and the net amount is amortized as an adjustment of the related loan’s yield. The Company is generally amortizing these amounts over the contractual lives of the loans. Commitment fees are recognized as income when received. | |||||||
The Company grants commercial, agricultural, consumer, residential real estate, and other loans to customers primarily in Arizona, Colorado, Iowa, Kansas, Missouri, Nebraska, and South Dakota. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the borrower. Collateral held varies but includes accounts receivable, inventory, property and equipment, residential real estate, and income-producing commercial and agricultural properties. Government guarantees are also obtained for some loans, which reduces the Company’s risk of loss. | |||||||
Loans originated and intended for sale in the secondary market are carried at the lower of cost or fair value. Loans held for sale include fixed rate single-family residential mortgage loans under contract to be sold in the secondary market. In most cases, loans in this category are sold within 45 days. These loans are sold with the mortgage servicing rights released. Under limited circumstances, buyers may have recourse to return a purchased loan to the Company. Recourse conditions may include early payment default, breach of representation or warranties, or documentation deficiencies. | |||||||
Fair value of loans held for sale is determined based on prevailing market prices for loans with similar characteristics, sale contract prices, or, for certain portfolios, discounted cash flow analyses. Declines in fair value below cost (and subsequent recoveries) are recognized in net gain on sale of loans. Deferred fees and costs related to these loans are not amortized but are recognized as part of the cost basis of the loan at the time it is sold. Gains or losses on sales are recognized upon delivery and included in net gain on sale of loans. | |||||||
Purchased Loans | |||||||
Loans acquired (non-impaired and impaired) in a business acquisition are recorded at their fair value at the acquisition date. Credit discounts are included in the determination of fair value; therefore, an allowance for loan losses is not recorded at the acquisition date. | |||||||
In determining the acquisition date fair value of purchased loans with evidence of credit deterioration (“purchased impaired loans”), and in subsequent accounting, the Company generally aggregates impaired purchased consumer and certain smaller balance impaired commercial loans into pools of loans with common risk characteristics, while accounting for larger-balance impaired commercial loans individually. Expected cash flows at the acquisition date in excess of the fair value of loans are recorded as interest income over the life of the loans using a level-yield method. | |||||||
Management estimates the cash flows expected to be collected at acquisition and at subsequent measurement dates using internal risk models, which incorporate the estimate of key assumptions, such as default rates, loss severity, and prepayment speeds. Subsequent to the acquisition date, decreases in cash flows over those expected at the acquisition date are recognized by recording an allowance for loan losses. Subsequent increases in cash flow over those expected at the acquisition date are recognized as reductions to allowance for loan losses to the extent impairment was previously recognized and thereafter as interest income prospectively. | |||||||
For purchased loans not deemed impaired at the acquisition date, the difference between the fair value of the loans and the expected cash flows of the loans at acquisition date is recognized in interest income on a level-yield method over the life of the loans. Credit discounts representing the principal losses expected over the life of the loan are a component of the initial fair value. Subsequent to the purchase date, the methods utilized to estimate the required allowance for loan losses for these loans is similar to originated loans; however, the Company records a provision for loan losses only when the required allowance exceeds any remaining credit discounts. | |||||||
Credit Risk Management | Credit Risk Management | ||||||
The Company’s strategy for credit risk management includes well-defined, centralized credit policies, uniform underwriting criteria and ongoing risk monitoring and review processes for all credit exposures. The strategy also emphasizes diversification on a geographic, industry, and customer level; regular credit examinations; and management reviews of loans exhibiting deterioration of credit quality. The credit risk management strategy also includes a credit risk assessment process that performs assessments of compliance with commercial and consumer credit policies, risk ratings, and other critical credit information. Loan decisions are documented with respect to the borrower’s business, purpose of the loan, evaluation of the repayment source, and the associated risks, evaluation of collateral, covenants and monitoring requirements, and risk rating rationale. | |||||||
The Company categorizes its loan portfolio into six classes, which is the level at which it develops and documents a systematic methodology to determine the allowance for loan losses. | |||||||
The Company’s six loan portfolio classes are residential real estate, commercial real estate, commercial non real estate, agriculture, consumer and other lending. | |||||||
The residential real estate lending class includes loans made to consumer customers including residential mortgages, residential construction loans and home equity loans and lines. These loans are typically fixed rate loans secured by residential real estate. Home equity lines are revolving accounts giving the borrower the ability to draw and repay balances repeatedly, up to a maximum commitment, and are secured by residential real estate. Home equity lines typically have variable rate terms which are benchmarked to a prime rate. Historical loss history is the primary factor in determining the allowance for loan losses for the residential real estate lending class. Key risk characteristics relevant to residential real estate lending class loans primarily relate to the borrower’s capacity and willingness to repay and include unemployment rates and other economic factors, and customer payment history. These risk characteristics, among others, are reflected in the environmental factors considered in determining the allowance for loan losses. | |||||||
The commercial real estate lending class includes loans made to small and middle market businesses, including multifamily properties. Loans in this class are secured by commercial real estate. Historical loss history and updated loan-to-value information on collateral-dependent loans are the primary factors in determining the allowance for loan losses for the commercial real estate lending class. Key risk characteristics relevant to the commercial real estate lending class include the industry and geography of the borrower’s business, purpose of the loan, repayment source, borrower’s debt capacity and financial performance, loan covenants, and nature of pledged collateral. We consider these risk characteristics in assigning risk ratings and estimating environmental factors considered in determining the allowance for loan losses. | |||||||
The commercial non real estate lending class includes loans made to small and middle market businesses, and loans made to public sector customers. Loans in this class are secured by the operations and cash flows of the borrowers, and any guarantors. Historical loss history and updated loan-to-value information on collateral-dependent loans are the primary factors in determining the allowance for loan losses for the commercial non real estate lending class. Key risk characteristics relevant to the commercial non real estate lending class include the industry and geography of the borrower’s business, purpose of the loan, repayment source, borrower’s debt capacity and financial performance, loan covenants, and nature of pledged collateral. We consider these risk characteristics in assigning risk ratings and estimating environmental factors considered in determining the allowance for loan losses. | |||||||
The agriculture lending class includes loans made to small and mid-size agricultural individuals and businesses. Loans in this class are secured by agricultural real estate, production, and cash flows, and any guarantors. Historical loss history and updated loan-to-value information on collateral-dependent loans are the primary factors in determining the allowance for loan losses for the agriculture lending class. Key risk characteristics relevant to the agriculture lending class include the geography of the borrower’s operations, commodity prices and weather patterns, purpose of the loan, repayment source, borrower’s debt capacity and financial performance, loan covenants, and nature of pledged collateral. We consider these risk characteristics in assigning risk ratings and estimating environmental factors considered in determining the allowance for loan losses. | |||||||
The consumer lending class includes loans made to consumer customers including loans secured by automobiles and other installment loans, and the other lending class includes credit card loans and unsecured revolving credit lines. Historical loss history is the primary factor in determining the allowance for loan losses for the consumer and other lending classes. Key risk characteristics relevant to loans in the consumer and other lending classes primarily relate to the borrower’s capacity and willingness to repay and include unemployment rates and other economic factors, and customer payment history. These risk characteristics, among others, are reflected in the environmental factors considered in determining the allowance for loan losses. | |||||||
The Company classifies all non-consumer loans by credit quality ratings. These ratings are Pass, Watch, Substandard, Doubtful, and Loss. Loans with a Pass and Watch rating represent those loans not classified on the Company’s rating scale for problem credits, with loans with a Watch rating being monitored and updated at least quarterly by management. Substandard loans are those where a well-defined weakness has been identified that may put full collection of contractual cash flows at risk. Doubtful loans are those where a well-defined weakness has been identified and a loss of contractual cash flows is known. Substandard and doubtful loans are monitored and updated monthly. All loan risk ratings are updated and monitored on a continuous basis. The Company generally does not risk rate consumer loans unless a default event such as bankruptcy or extended nonperformance takes place. Alternatively, standard credit scoring systems are used to assess credit risks of consumer loans. | |||||||
Allowance for Loan Losses ("ALL") and Unfunded Commitments | Allowance for Loan Losses (“ALL”) and Unfunded Commitments | ||||||
The Company maintains an allowance for loan losses at a level management believes is appropriate to reserve for credit losses inherent in our loan portfolio. The allowance for loan losses is determined based on an ongoing evaluation, driven primarily by monitoring changes in loan risk grades, delinquencies, and other credit risk indicators, which is inherently subjective. | |||||||
The Company considers the uncertainty related to certain industry sectors and the extent of credit exposure to specific borrowers within the portfolio. In addition, consideration is given to concentration risks associated with the various loan portfolios and current economic conditions that might impact the portfolio. The Company also considers changes, if any, in underwriting activities, the loan portfolio composition (including product mix and geographic, industry, or customer-specific concentrations), trends in loan performance, the level of allowance coverage relative to similar banking institutions and macroeconomic factors, such as changes in unemployment rates, gross domestic product, and consumer bankruptcy filings. | |||||||
All of these estimates are susceptible to significant change. Changes to the allowance for loan losses are made by charges to the provision for loan losses, which is reflected in the consolidated statements of comprehensive income. Loans deemed to be uncollectible are charged off against the allowance for loan losses. Recoveries of amounts previously charged-off are credited to the allowance for loan losses. | |||||||
The allowance for loan losses consist of reserves for probable losses that have been identified related to specific borrowing relationships that are individually evaluated for impairment (“specific reserve”), as well as probable losses inherent in our loan portfolio that are not specifically identified (“collective reserve”). | |||||||
The specific reserve relates to impaired loans. A loan is impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due (interest as well as principal) according to the contractual terms of the loan agreement. Specific reserves are determined on a loan-by-loan basis based on management’s best estimate of the Company’s exposure, given the current payment status of the loan, the present value of expected payments, and the value of any underlying collateral. Impaired loans also include loans modified in troubled debt restructurings where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in the interest rate on the loan, payment extensions, forgiveness of principal, forbearance, or other actions intended to maximize collection. Generally, the impairment related to troubled debt restructurings is measured based on the fair value of the collateral, less cost to sell, or the present value of expected payments relative to the unpaid principal balance. If the impaired loan is identified as collateral dependent, then the fair value of the collateral method of measuring the amount of the impairment is utilized. This method requires obtaining an independent appraisal of the collateral and applying a discount factor to the appraised value, if necessary, and including costs to sell. | |||||||
Management’s estimate for collective reserves reflects losses incurred in the loan portfolio as of the consolidated balance sheet reporting date. Incurred loss estimates primarily are based on historical loss experience and portfolio mix. Incurred loss estimates may be adjusted to reflect current economic conditions and current portfolio trends including credit quality, concentrations, aging of the portfolio, and/or significant policy and underwriting changes. | |||||||
While management uses the best information available to establish the allowance for loan losses, future adjustments may be necessary if economic conditions differ substantially from the assumptions used in performing the estimates. | |||||||
Unfunded residential mortgage loan commitments entered into in connection with mortgage loans to be held for sale are considered derivatives and recorded at fair value on the consolidated balance sheets with changes in fair value recorded in other interest income. All other unfunded loan commitments are generally related to providing credit facilities to customers and are not considered derivatives. For purchased loans, the fair value of the unfunded credit commitments is considered in determination of the fair value of the loans recorded at the date of acquisition. Reserves for credit exposure on all other unfunded credit commitments are recorded in other liabilities on the consolidated balance sheets. We maintain a reserve for unfunded commitments at a level we believe to be sufficient to absorb estimated probable losses related to unfunded credit facilities. | |||||||
FDIC Indemnification Asset and Clawback Liability | FDIC Indemnification Asset and Clawback Liability | ||||||
In conjunction with a Federal Deposit Insurance Corporation (“FDIC”)-assisted transaction of TierOne Bank in 2010, the Company entered into two loss share agreements with the FDIC, one covering certain single family residential mortgage loans and one covering commercial loans and other assets, with claim periods ending June 2020 and June 2015, respectively. The agreements cover a portion of realized losses on loans, foreclosed real estate and certain other assets. The Company has recorded assets on the consolidated balance sheets (i.e., indemnification assets) representing estimated future amounts recoverable from the FDIC. | |||||||
Fair values of loans covered by the loss sharing agreements at the acquisition date were estimated based on projected cash flows available based on the expected probability of default, default timing and loss given default, the expected reimbursement rates (generally 80%) from the FDIC and other relevant terms of the loss sharing agreements. The initial fair value was established by discounting these expected cash flows with a market discount rate for instruments with like maturity and risk characteristics. | |||||||
The loss share assets are measured separately from the related loans and foreclosed real estate and recorded as an FDIC indemnification asset on the consolidated balance sheets because they are not contractually embedded in the loans and are not transferrable with the loans should the Company choose to dispose of them. Subsequent to the acquisition date, reimbursements received from the FDIC for actual incurred losses reduce the carrying amount of the loss share assets. Reductions to expected losses on covered assets, to the extent such reductions to expected losses are the result of an improvement to the actual or expected cash flows from the covered assets, also reduce the carrying amount of the loss share assets. The rate of accretion of the indemnification asset discount included in interest income slows to mirror the accelerated accretion of the loan discount. Additional expected losses on covered assets, to the extent such expected losses result in the recognition of an allowance for loan losses, increase the carrying amount of the loss share assets. A related increase in the value of the indemnification asset up to the amount covered by the FDIC is calculated based on the reimbursement rates from the FDIC and is included in other noninterest income. The corresponding loan accretion or amortization is recorded as a component of interest income on the consolidated statements of comprehensive income. Although these assets are contractual receivables from the FDIC, there are no contractual interest rates. | |||||||
As part of the loss sharing agreements, the Company also assumed a liability (“FDIC Clawback Liability”) to be paid within 45 days subsequent to the maturity or termination of the loss sharing agreements that is contingent upon actual losses incurred over the life of the agreements relative to expected losses considered in the consideration paid at acquisition date and the amount of losses reimbursed to the Company under the loss sharing agreements. The liability was recorded at fair value as of the acquisition date. The fair value was based on a discounted cash flow calculation that considered the formula defined in the loss sharing agreements and projected losses. The difference between the fair value at acquisition date and the projected losses is amortized through other noninterest expense. As projected losses and reimbursements are updated, as described above, the FDIC Clawback Liability is adjusted and a gain or loss is recorded in other noninterest expense. | |||||||
Premises and Equipment | Premises and Equipment | ||||||
Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed principally by the straight-line method over the estimated useful lives of the assets. Costs incurred for maintenance and repairs are expensed as incurred. The range of estimated useful lives for buildings and building improvements are 10 to 40 years and 3 to 10 years for furniture and equipment. | |||||||
Long-lived Asset Impairment | Long-lived Asset Impairment | ||||||
The Company evaluates the recoverability of the carrying value of long-lived assets whenever events or circumstances indicate the carrying amount may not be recoverable. If a long-lived asset is tested for recoverability and the undiscounted estimated future cash flows expected to result from the use and eventual disposition of the asset is less than the carrying amount of the asset, the asset’s carrying value is adjusted to fair value and an impairment loss is recognized as the amount by which the carrying amount of the long-lived asset exceeds its fair value. | |||||||
No long-lived asset impairments were recognized during the years ended September 30, 2014, 2013 or 2012. | |||||||
Bank Owned Life Insurance ("BOLI") | Bank Owned Life Insurance (“BOLI”) | ||||||
BOLI represents life insurance policies on the lives of certain Company officers or former officers for which the Company is the beneficiary. The carrying amount of bank owned life insurance consists of the initial premium paid plus increases in cash value less the carrying amount associated with any death benefits received, and is recorded in other assets. Death benefits paid in excess of the applicable carrying amount are recognized as income, which is exempt from income taxes. | |||||||
Other Repossessed Property | Other Repossessed Property | ||||||
Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management, and the assets are carried at the lower of carrying amount or fair value less cost to sell. Income and expenses from operations of repossessed property are included in other noninterest expense. | |||||||
Goodwill | Goodwill | ||||||
Goodwill represents the cost in excess of the fair value of net assets acquired (including identifiable intangibles) in transactions accounted for as business acquisitions. Goodwill is evaluated annually for impairment. The Company performs its impairment evaluation as of June 30 of each fiscal year. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and goodwill is written down to its implied fair value. Subsequent increases in goodwill are not recognized in the consolidated financial statements. No goodwill impairment was recognized during the years ended September 30, 2014, 2013 or 2012. | |||||||
Core Deposits and Other Intangibles | Core Deposits and Other Intangibles | ||||||
Intangible assets consist of core deposits, brand intangible, customer relationships, and other intangibles. Core deposits represent the identifiable intangible value assigned to core deposit bases arising from purchase acquisitions. Brand intangible represents the value associated with the Bank charter. Customer relationships intangible represents the identifiable intangible value assigned to customer relationships arising from a purchase acquisition. Other intangibles represent contractual franchise arrangements under which the franchiser grants the franchisee the right to perform certain functions within a designated geographical area. | |||||||
The methods and lives used to amortize intangible assets are as follows: | |||||||
Intangible | Method | Years | |||||
Core deposit | Straight-line or effective yield | 4.75 – 6.2 | |||||
Brand intangible | Straight-line | 15 | |||||
Customer relationships | Straight-line | 8.5 | |||||
Other intangibles | Straight-line | 5 | |||||
Intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. No intangible asset impairments were recognized during the years ended September 30, 2014, 2013 or 2012. | |||||||
Derivatives | Derivatives | ||||||
The Company maintains an overall interest rate risk management strategy that permits the use of derivative instruments to modify exposure to interest rate risk. The Company enters into interest rate swap contracts to offset the interest rate risk associated with borrowers who lock in long-term fixed rates (greater than or equal to 5 years to maturity) through a fixed rate loan. These contracts do not qualify for hedge accounting. Generally, under these swaps, the Company agrees with NAB to exchange the difference between fixed-rate and floating-rate interest amounts based upon notional principal amounts. These interest rate derivative instruments are recognized as assets and liabilities on the consolidated balance sheets and measured at fair value, with changes in fair value reported in net realized and unrealized gain (loss) on derivatives. Since each fixed rate loan is paired with an offsetting derivative contract, the impact to net income is minimized. | |||||||
The Company enters into forward interest rate lock commitments on mortgage loans to be held for sale, which are commitments to originate loans whereby the interest rate on the loan is determined prior to funding. The Company also has corresponding forward sales contracts related to these interest rate lock commitments. Both the mortgage loan commitments and the related sales contracts are considered derivatives and are recorded at fair value with changes in fair value recorded in other interest income. | |||||||
Income Taxes | Income Taxes | ||||||
The Company files a consolidated income tax return with National Americas Investment, Inc. (a wholly owned indirect subsidiary of NAB). Income taxes are allocated pursuant to a tax-sharing arrangement, whereby the Company will pay federal and state income taxes as if it were filing on a stand-alone basis. Income tax expense includes two components: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over income. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax basis of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. | |||||||
Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. | |||||||
Liabilities related to uncertain tax positions are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. | |||||||
The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management’s judgment. | |||||||
The Company recognizes interest and/or penalties related to income tax matters in other interest and noninterest expense. | |||||||
Transfers of Financial Assets | Transfers of Financial Assets | ||||||
Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company-put presumptively beyond reach of the Company and its creditors, even in bankruptcy or other receivership, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets. | |||||||
Securities sold under agreements to repurchase are accounted for as collateralized financing transactions and are recorded at amounts at which the securities were financed, plus accrued interest. | |||||||
Revenue Recognition | Revenue Recognition | ||||||
The Company recognizes revenue as it is earned based on contractual terms, as transactions occur, or as services are provided and collectability is reasonably assured. Certain specific policies related to service charges and other fees include the following: | |||||||
Deposit Service Charges | |||||||
Service charges on deposit accounts are primarily fees related to customer overdraft events and not sufficient funds fees, net of any refunded fees, and are recognized as transactions occur and services are provided. Service charges on deposit accounts also relate to monthly fees based on minimum balances, and are earned as transactions occur and services are provided. | |||||||
Interchange Fees | |||||||
Interchange fees include interchange income from consumer debit card transactions processed through card association networks. Interchange income is a fee paid by a merchant bank to the card-issuing bank through the interchange network. Interchange fees are set by the card association networks and are based on cardholder purchase volumes. | |||||||
Comprehensive Income | Comprehensive Income | ||||||
Comprehensive income consists of net income and other comprehensive income, net of applicable income taxes. Other comprehensive income (loss) consists entirely of unrealized appreciation (depreciation) on available-for-sale securities. | |||||||
New Accounting Pronouncements | New Accounting Pronouncements | ||||||
In December 2011, the FASB issued Accounting Standards Update (“ASU”) 2011-11, Disclosures about Offsetting Assets and Liabilities. Under the ASU, an entity is required to disclose both gross and net information about instruments and transactions eligible for offset in the balance sheet, as well as instruments and transactions subject to an agreement similar to a master netting agreement. In January 2013, the FASB released ASU 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which amended ASU 2011-11 to specifically include only derivatives accounted for under Topic 815, repurchase and reverse repurchase agreements, and securities borrowing and lending transactions that are either offset or subject to an enforceable master netting arrangement. The disclosure requirements are effective for annual reporting periods beginning on or after January 1, 2013, and interim periods therein, with retrospective application required. The adoption of these accounting pronouncements did not have a material impact on the Company’s consolidated financial statements. | |||||||
In January 2014, the FASB issued ASU 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The update amends existing literature to eliminate diversity in practice by clarifying and defining when an in substance repossession or foreclosure occurs. The terms “in substance a repossession or foreclosure” and “physical possession” are not currently defined in the accounting literature, resulting in diversity in practice when a creditor derecognizes a loan receivable and recognizes the real estate property collateralizing the loan receivable as an asset. Additionally, the update requires interim and annual disclosures of both the amount of foreclosed residential real estate property and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. The update is effective for annual periods and the interim periods within those annual periods beginning after December 15, 2014. The adoption of the update to existing standards is not expected to have a material impact to the Company’s consolidated financial statements. | |||||||
In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09 “Revenue from Contracts with Customers (Topic 606)”, which does not apply to financial instruments. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The amendments can be applied retrospectively to each prior reporting period or retrospectively with the cumulative effect of initially applying this ASU recognized at the date of initial application. Early application is not permitted. The Company is assessing the impact of ASU 2014-09 on its accounting and disclosures. |
Nature_of_Operations_and_Summa2
Nature of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Accounting Policies [Abstract] | |||||||
Schedule of Intangible Assets Estimated Lives and Methods Used to Amortize | The methods and lives used to amortize intangible assets are as follows: | ||||||
Intangible | Method | Years | |||||
Core deposit | Straight-line or effective yield | 4.75 – 6.2 | |||||
Brand intangible | Straight-line | 15 | |||||
Customer relationships | Straight-line | 8.5 | |||||
Other intangibles | Straight-line | 5 |
Securities_Tables
Securities (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost and Fair Value | The amortized cost and approximate fair value of investments in securities, all of which are classified as available for sale according to management’s intent, are summarized as follows (in thousands): | The amortized cost and approximate fair value of investments in securities, all of which are classified as available for sale according to management’s intent, are summarized as follows (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||||||||||||||||||||||||
Unrealized | Unrealized | Unrealized | Unrealized | |||||||||||||||||||||||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | |||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | As of September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 271,551 | $ | 1,027 | $ | — | $ | 272,578 | U.S. Treasury securities | $ | 222,868 | $ | 31 | $ | (174 | ) | $ | 222,725 | ||||||||||||||||||||||||||||||||
Mortgage-backed securities: | Mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||||||||||||||
Government National Mortgage Association | 989,204 | 3,307 | (9,409 | ) | 983,102 | Government National Mortgage Association | 1,113,363 | 4,639 | (14,587 | ) | 1,103,415 | |||||||||||||||||||||||||||||||||||||||
States and political subdivision securities | 2,117 | 1 | — | 2,118 | Federal National Mortgage Association | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 4,996 | 145 | — | 5,141 | States and political subdivision securities | 2,188 | 1 | — | 2,189 | |||||||||||||||||||||||||||||||||||||||||
Other | 1,006 | 38 | — | 1,044 | Corporate debt securities | 11,732 | 141 | — | 11,873 | |||||||||||||||||||||||||||||||||||||||||
Other | 1,006 | 34 | — | 1,040 | ||||||||||||||||||||||||||||||||||||||||||||||
$ | 1,268,874 | $ | 4,518 | $ | (9,409 | ) | $ | 1,263,983 | ||||||||||||||||||||||||||||||||||||||||||
$ | 1,351,157 | $ | 4,846 | $ | (14,761 | ) | $ | 1,341,242 | ||||||||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||||||||||||||||||||||||||||
Unrealized | Unrealized | Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||||||||||||||||||||||||||
Gains | Losses | Unrealized | Unrealized | |||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | Gains | Losses | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 222,868 | $ | 31 | $ | (174 | ) | $ | 222,725 | As of September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities: | U.S. Treasury securities | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||
Government National Mortgage Association | 1,113,363 | 4,639 | (14,587 | ) | 1,103,415 | Mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||
States and political subdivision securities | 2,188 | 1 | — | 2,189 | Government National Mortgage Association | 1,470,822 | 9,634 | (21,013 | ) | 1,459,443 | ||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 11,732 | 141 | — | 11,873 | Federal National Mortgage Association | 1 | — | — | 1 | |||||||||||||||||||||||||||||||||||||||||
Other | 1,006 | 34 | — | 1,040 | States and political subdivision securities | 3,513 | 19 | — | 3,532 | |||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | 11,889 | 133 | (9 | ) | 12,013 | |||||||||||||||||||||||||||||||||||||||||||||
$ | 1,351,157 | $ | 4,846 | $ | (14,761 | ) | $ | 1,341,242 | Other | 5,449 | 17 | (6 | ) | 5,460 | ||||||||||||||||||||||||||||||||||||
$ | 1,491,674 | $ | 9,803 | $ | (21,028 | ) | $ | 1,480,449 | ||||||||||||||||||||||||||||||||||||||||||
Marketable Securities | Maturities of mortgage-backed securities may differ from contractual maturities because the mortgages underlying the securities may be called or repaid without any penalties. | The amortized cost and approximate fair value of debt securities available for sale as of September 30, 2014 and 2013, by contractual maturity, are shown below. Maturities of mortgage-backed securities may differ from contractual maturities because the mortgages underlying the securities may be called or repaid without any penalties. | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | September 30, 2014 | September 30, 2014 | September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
(In Thousands) | Amortized | Fair Value | Amortized | Fair Value | (In Thousands) | Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||||||||||||||||||||||||||||||||
Cost | Cost | Due in one year or less | $ | 7,207 | $ | 7,218 | $ | 1,497 | $ | 1,514 | ||||||||||||||||||||||||||||||||||||||||
Due in one year or less | $ | 470 | $ | 470 | $ | 7,207 | $ | 7,218 | Due after one year through five years | 223,282 | 223,140 | 6,988 | 7,123 | |||||||||||||||||||||||||||||||||||||
Due after one year through five years | 247,796 | 248,733 | 223,282 | 223,140 | Due after five years through ten years | 6,299 | 6,429 | 6,917 | 6,908 | |||||||||||||||||||||||||||||||||||||||||
Due after five years through ten years | 30,398 | 30,634 | 6,299 | 6,429 | Due after ten years | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
278,664 | 279,837 | 236,788 | 236,787 | 236,788 | 236,787 | 15,402 | 15,545 | |||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | 989,204 | 983,102 | 1,113,363 | 1,103,415 | Mortgage-backed securities | 1,113,363 | 1,103,415 | 1,470,823 | 1,459,444 | |||||||||||||||||||||||||||||||||||||||||
Securities without contractual maturities | 1,006 | 1,044 | 1,006 | 1,040 | Securities without contractual maturities | 1,006 | 1,040 | 5,449 | 5,460 | |||||||||||||||||||||||||||||||||||||||||
$ | 1,268,874 | $ | 1,263,983 | $ | 1,351,157 | $ | 1,341,242 | $ | 1,351,157 | $ | 1,341,242 | $ | 1,491,674 | $ | 1,480,449 | |||||||||||||||||||||||||||||||||||
Schedule of Unrealized Loss on Investments | The following table presents the Company’s gross unrealized losses and approximate fair value in investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): | The following table presents the Company’s gross unrealized losses and approximate fair value in investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||
Less than 12 months | December 31, 2014 | Total | Less than 12 months | September 30, 2014 | Total | |||||||||||||||||||||||||||||||||||||||||||||
12 months or more | 12 months or more | |||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | U.S. Treasury securities | $ | 98,344 | $ | (174 | ) | $ | — | $ | — | $ | 98,344 | $ | (174 | ) | |||||||||||||||||||||||
Mortgage-backed securities | 68 | — | 656,512 | (9,409 | ) | 656,580 | (9,409 | ) | Mortgage-backed securities | 24,625 | (125 | ) | 730,171 | (14,462 | ) | 754,796 | (14,587 | ) | ||||||||||||||||||||||||||||||||
Corporate debt securities | — | — | — | — | — | — | Corporate debt securities | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | Other | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
$ | 68 | $ | — | $ | 656,512 | $ | (9,409 | ) | $ | 656,580 | $ | (9,409 | ) | $ | 122,969 | $ | (299 | ) | $ | 730,171 | $ | (14,462 | ) | $ | 853,140 | $ | (14,761 | ) | ||||||||||||||||||||||
Less than 12 months | September 30, 2014 | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
12 months or more | Less than 12 months | September 30, 2013 | Total | |||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | 12 months or more | ||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 98,344 | $ | (174 | ) | $ | — | $ | — | $ | 98,344 | $ | (174 | ) | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||||||||||||||||||
Mortgage-backed securities | 24,625 | (125 | ) | 730,171 | (14,462 | ) | 754,796 | (14,587 | ) | Mortgage-backed securities | $ | 852,344 | $ | (19,469 | ) | $ | 56,781 | $ | (1,544 | ) | $ | 909,125 | $ | (21,013 | ) | |||||||||||||||||||||||||
Corporate debt securities | — | — | — | — | — | — | Corporate debt securities | 4,436 | (9 | ) | — | — | 4,436 | (9 | ) | |||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | Other | — | — | 4,986 | (6 | ) | 4,986 | (6 | ) | |||||||||||||||||||||||||||||||||||
$ | 122,969 | $ | (299 | ) | $ | 730,171 | $ | (14,462 | ) | $ | 853,140 | $ | (14,761 | ) | $ | 856,780 | $ | (19,478 | ) | $ | 61,767 | $ | (1,550 | ) | $ | 918,547 | $ | (21,028 | ) | |||||||||||||||||||||
Unrealized Gain (Loss) on Investments | The components of other comprehensive income from net unrealized gains (losses) on securities available for sale for the three months ended December 31, 2014 and 2013 are as follows (in thousands): | The components of other comprehensive income from net unrealized gains (losses) on securities available for sale for the years ended September 30, 2014, 2013 and 2012 are as follows (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, | Beginning balance accumulated other comprehensive income | $ | (7,081 | ) | $ | 19,111 | $ | 16,542 | ||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | Net unrealized holding gain (loss) arising during the period | 1,400 | (40,651 | ) | 11,376 | ||||||||||||||||||||||||||||||||||||||||||||
Beginning balance accumulated other comprehensive income (loss) | $ | (6,157 | ) | $ | (7,081 | ) | Reclassification adjustment for net gain realized in net income | (90 | ) | (917 | ) | (7,305 | ) | |||||||||||||||||||||||||||||||||||||
Net unrealized holding gain (loss) arising during the period | 4,973 | (10,409 | ) | |||||||||||||||||||||||||||||||||||||||||||||||
Reclassification adjustment for net gain realized in net income | 51 | — | Net change in unrealized gain (loss) before income taxes | 1,310 | (41,568 | ) | 4,071 | |||||||||||||||||||||||||||||||||||||||||||
Income tax benefit (expense) | (386 | ) | 15,376 | (1,502 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized gain (loss) before income taxes | 5,024 | (10,409 | ) | |||||||||||||||||||||||||||||||||||||||||||||||
Income tax (expense) benefit | (1,909 | ) | 3,955 | Net change in unrealized gain (loss) on securities after taxes | 924 | (26,192 | ) | 2,569 | ||||||||||||||||||||||||||||||||||||||||||
Net change in unrealized (loss) gain on securities after taxes | 3,115 | (6,454 | ) | Ending balance accumulated other comprehensive income (loss) | $ | (6,157 | ) | $ | (7,081 | ) | $ | 19,111 | ||||||||||||||||||||||||||||||||||||||
Ending balance accumulated other comprehensive income (loss) | $ | (3,042 | ) | $ | (13,535 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Loans_Tables
Loans (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable | The composition of net loans as of December 31, 2014 and September 30, 2014, is as follows (in thousands): | The composition of net loans as of September 30, 2014 and 2013, is as follows (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | September 30, | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2014 | Residential real estate | $ | 901,605 | $ | 906,469 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 910,406 | $ | 901,605 | Commercial real estate | 2,541,194 | 2,311,974 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 2,645,721 | 2,541,194 | Commercial non real estate | 1,571,640 | 1,481,756 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 1,551,607 | 1,571,640 | Agriculture | 1,681,209 | 1,587,248 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 1,788,028 | 1,681,209 | Consumer | 90,086 | 101,477 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 85,822 | 90,086 | Other | 34,243 | 24,711 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | 35,311 | 34,243 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
6,819,977 | 6,413,635 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7,016,895 | 6,819,977 | Less: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Less: | Allowance for loan losses | (47,518 | ) | (55,864 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (51,820 | ) | (47,518 | ) | Unamortized discount on acquired loans | (25,638 | ) | (34,717 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount on acquired loans | (23,321 | ) | (25,638 | ) | Unearned net deferred fees and costs and loans in process | (6,872 | ) | (16,245 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Unearned net deferred fees and costs and loans in process | (6,809 | ) | (6,872 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 6,739,949 | $ | 6,306,809 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 6,934,945 | $ | 6,739,949 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Financing Receivables, Non Accrual Status | Loans greater than 90 days past due and still accruing interest as of December 31, 2014 and September 30, 2014, were not significant. | The following table presents the Company’s nonaccrual loans at September 30, 2014 and 2013 (in thousands), excluding loans covered under the FDIC loss-sharing agreements. Loans greater than 90 days past due and still accruing interest as of September 30, 2014 and 2013, were not significant. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans | December 31, | September 30, | Nonaccrual loans | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2014 | Residential real estate | $ | 6,671 | $ | 8,746 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 7,269 | $ | 6,671 | Commercial real estate | 20,767 | 57,652 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 10,638 | 20,767 | Commercial non real estate | 4,908 | 6,641 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 10,630 | 4,908 | Agriculture | 11,453 | 8,236 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 10,342 | 11,453 | Consumer | 146 | 226 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 104 | 146 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 43,945 | $ | 81,501 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 38,983 | $ | 43,945 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due Financing Receivables | This table is presented net of unamortized discount on acquired loans and excludes loans measured at fair value with changes in fair value reported in earnings of $1,023.3 million for December 31, 2014 and $985.4 million for September 30, 2014. | The following table (in thousands) presents the Company’s past due loans at September 30, 2014 and 2013. This table is presented net of unamortized discount on acquired loans and excludes loans measured at fair value with changes in fair value reported in earnings of $985.41 million for 2014 and $841.86 million for 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | 30-59 Days | 60-89 Days | Greater Than | Total | Current | Total | As of September 30, 2014 | 30-59 Days | 60-89 Days | Greater Than | Total | Current | Total | |||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | 90 Days | Past Due | Financing | Past Due | Past Due | 90 Days | Past Due | Financing | |||||||||||||||||||||||||||||||||||||||||||||||||
Receivables | Receivables | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 3,652 | $ | 543 | $ | 3,368 | $ | 7,563 | $ | 773,471 | $ | 781,034 | Residential real estate | $ | 675 | $ | 611 | $ | 2,581 | $ | 3,867 | $ | 760,887 | $ | 764,754 | |||||||||||||||||||||||||||||||||
Commercial real estate | 1,860 | 3,632 | 4,636 | 10,128 | 2,256,815 | 2,266,943 | Commercial real estate | 11,050 | 819 | 3,384 | 15,253 | 1,988,585 | 2,003,838 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 1,586 | 2,146 | 8,043 | 11,775 | 1,120,734 | 1,132,509 | Commercial non real estate | 1,761 | 6,228 | 744 | 8,733 | 1,303,925 | 1,312,658 | |||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 4,036 | — | 3,673 | 7,709 | 1,465,574 | 1,473,283 | Agriculture | 16 | 368 | 4,205 | 4,589 | 1,364,960 | 1,369,549 | |||||||||||||||||||||||||||||||||||||||||||||
Consumer | 205 | 108 | 28 | 341 | 85,327 | 85,668 | Consumer | 244 | 18 | 49 | 311 | 89,528 | 89,839 | |||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | 35,311 | 35,311 | Other | — | — | — | — | 34,243 | 34,243 | |||||||||||||||||||||||||||||||||||||||||||||
11,339 | 6,429 | 19,748 | 37,516 | 5,737,232 | 5,774,748 | 13,746 | 8,044 | 10,963 | 32,753 | 5,542,128 | 5,574,881 | |||||||||||||||||||||||||||||||||||||||||||||||
Loans covered by FDIC loss sharing agreements | 4,760 | 1,879 | 3,315 | 9,954 | 185,591 | 195,545 | Loans covered by FDIC loss sharing agreements | 1,960 | 1,252 | 3,728 | 6,940 | 227,096 | 234,036 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 16,099 | $ | 8,308 | $ | 23,063 | $ | 47,470 | $ | 5,922,823 | $ | 5,970,293 | Total | $ | 15,706 | $ | 9,296 | $ | 14,691 | $ | 39,693 | $ | 5,769,224 | $ | 5,808,917 | |||||||||||||||||||||||||||||||||
As of September 30, 2014 | 30-59 Days | 60-89 Days | Greater Than | Total Past | Current | Total | As of September 30, 2013 | 30-59 Days | 60-89 Days | Greater Than | Total | Current | Total | |||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | 90 Days | Due | Financing | Past Due | Past Due | 90 Days | Past Due | Financing | |||||||||||||||||||||||||||||||||||||||||||||||||
Receivables | Receivables | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 675 | $ | 611 | $ | 2,581 | $ | 3,867 | $ | 760,887 | $ | 764,754 | Residential real estate | $ | 625 | $ | 955 | $ | 4,942 | $ | 6,522 | $ | 721,333 | $ | 727,855 | |||||||||||||||||||||||||||||||||
Commercial real estate | 11,050 | 819 | 3,384 | 15,253 | 1,988,585 | 2,003,838 | Commercial real estate | 431 | 158 | 9,639 | 10,228 | 1,797,884 | 1,808,112 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 1,761 | 6,228 | 744 | 8,733 | 1,303,925 | 1,312,658 | Commercial non real estate | 1,342 | 198 | 2,821 | 4,361 | 1,219,731 | 1,224,092 | |||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 16 | 368 | 4,205 | 4,589 | 1,364,960 | 1,369,549 | Agriculture | 102 | 4,040 | 2,867 | 7,009 | 1,297,208 | 1,304,217 | |||||||||||||||||||||||||||||||||||||||||||||
Consumer | 244 | 18 | 49 | 311 | 89,528 | 89,839 | Consumer | 340 | 65 | 44 | 449 | 100,214 | 100,663 | |||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | 34,243 | 34,243 | Other | — | — | — | — | 24,711 | 24,711 | |||||||||||||||||||||||||||||||||||||||||||||
13,746 | 8,044 | 10,963 | 32,753 | 5,542,128 | 5,574,881 | 2,840 | 5,416 | 20,313 | 28,569 | 5,161,081 | 5,189,650 | |||||||||||||||||||||||||||||||||||||||||||||||
Loans covered by FDIC loss sharing agreements | 1,960 | 1,252 | 3,728 | 6,940 | 227,096 | 234,036 | Loans covered by FDIC loss sharing agreements | 1,307 | 3,861 | 6,632 | 11,800 | 335,608 | 347,408 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 15,706 | $ | 9,296 | $ | 14,691 | $ | 39,693 | $ | 5,769,224 | $ | 5,808,917 | Total | $ | 4,147 | $ | 9,277 | $ | 26,945 | $ | 40,369 | $ | 5,496,689 | $ | 5,537,058 | |||||||||||||||||||||||||||||||||
Composition of Loan Portfolio by Internal Risk Rating | This table (in thousands) is presented net of unamortized discount on acquired loans and excludes loans measured at fair value with changes in fair value reported in earnings of $1,023.3 million for December 31, 2014 and $985.4 million for September 30, 2014: | The composition of the loan portfolio by internal risk rating is as follows as of September 30, 2014 and 2013. This table (in thousands) is presented net of unamortized discount on acquired loans and excludes loans measured at fair value with changes in fair value reported in earnings of $985.41 million for 2014 and $841.86 million for 2013: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | Residential | Commercial | Commercial | Agriculture | Consumer | Other | Total | As of September 30, 2014 | Residential | Commercial | Commercial | Agriculture | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Non Real | Real Estate | Real Estate | Non Real | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Estate | Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Grade: | Grade: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 764,217 | $ | 2,129,884 | $ | 1,021,994 | $ | 1,314,547 | $ | 85,082 | $ | 35,311 | $ | 5,351,035 | Pass | $ | 747,485 | $ | 1,867,866 | $ | 1,218,558 | $ | 1,202,145 | $ | 89,197 | $ | 34,243 | $ | 5,159,494 | |||||||||||||||||||||||||||||
Watchlist | 4,548 | 70,965 | 73,936 | 125,659 | 365 | — | 275,473 | Watchlist | 5,320 | 84,132 | 65,628 | 132,262 | 381 | — | 287,723 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | 11,717 | 65,984 | 34,884 | 33,042 | 221 | — | 145,848 | Substandard | 11,290 | 51,692 | 27,499 | 35,107 | 242 | — | 125,830 | |||||||||||||||||||||||||||||||||||||||||||
Doubtful | 552 | 110 | 1,514 | 35 | — | — | 2,211 | Doubtful | 659 | 148 | 798 | 35 | 19 | — | 1,659 | |||||||||||||||||||||||||||||||||||||||||||
Loss | — | — | 181 | — | — | — | 181 | Loss | — | — | 175 | — | — | — | 175 | |||||||||||||||||||||||||||||||||||||||||||
Ending balance | 781,034 | 2,266,943 | 1,132,509 | 1,473,283 | 85,668 | 35,311 | 5,774,748 | Ending balance | 764,754 | 2,003,838 | 1,312,658 | 1,369,549 | 89,839 | 34,243 | 5,574,881 | |||||||||||||||||||||||||||||||||||||||||||
Loans covered by FDIC loss sharing agreements | 119,894 | 66,264 | 7,460 | 1,874 | 53 | — | 195,545 | Loans covered by FDIC loss sharing agreements | 127,115 | 95,467 | 9,390 | 2,004 | 60 | — | 234,036 | |||||||||||||||||||||||||||||||||||||||||||
Total | $ | 900,928 | $ | 2,333,207 | $ | 1,139,969 | $ | 1,475,157 | $ | 85,721 | $ | 35,311 | $ | 5,970,293 | Total | $ | 891,869 | $ | 2,099,305 | $ | 1,322,048 | $ | 1,371,553 | $ | 89,899 | $ | 34,243 | $ | 5,808,917 | |||||||||||||||||||||||||||||
As of September 30, 2014 | Residential | Commercial | Commercial | Agriculture | Consumer | Other | Total | As of September 30, 2013 | Residential | Commercial | Commercial | Agriculture | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Non Real | Real Estate | Real Estate | Non Real | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Estate | Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade | Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Grade: | Grade: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 747,485 | $ | 1,867,866 | $ | 1,218,558 | $ | 1,202,145 | $ | 89,197 | $ | 34,243 | $ | 5,159,494 | Pass | $ | 707,859 | $ | 1,652,694 | $ | 1,144,131 | $ | 1,192,357 | $ | 100,087 | $ | 24,711 | $ | 4,821,839 | |||||||||||||||||||||||||||||
Watchlist | 5,320 | 84,132 | 65,628 | 132,262 | 381 | — | 287,723 | Watchlist | 5,779 | 72,924 | 52,576 | 87,596 | 164 | — | 219,039 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | 11,290 | 51,692 | 27,499 | 35,107 | 242 | — | 125,830 | Substandard | 13,039 | 78,244 | 23,538 | 23,963 | 398 | — | 139,182 | |||||||||||||||||||||||||||||||||||||||||||
Doubtful | 659 | 148 | 798 | 35 | 19 | — | 1,659 | Doubtful | 1,178 | 4,250 | 3,847 | 301 | 14 | — | 9,590 | |||||||||||||||||||||||||||||||||||||||||||
Loss | — | — | 175 | — | — | — | 175 | Loss | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Ending balance | 764,754 | 2,003,838 | 1,312,658 | 1,369,549 | 89,839 | 34,243 | 5,574,881 | Ending balance | 727,855 | 1,808,112 | 1,224,092 | 1,304,217 | 100,663 | 24,711 | 5,189,650 | |||||||||||||||||||||||||||||||||||||||||||
Loans covered by FDIC loss sharing agreements | 127,115 | 95,467 | 9,390 | 2,004 | 60 | — | 234,036 | Loans covered by FDIC loss sharing agreements | 167,835 | 150,745 | 28,163 | 525 | 140 | — | 347,408 | |||||||||||||||||||||||||||||||||||||||||||
Total | $ | 891,869 | $ | 2,099,305 | $ | 1,322,048 | $ | 1,371,553 | $ | 89,899 | $ | 34,243 | $ | 5,808,917 | Total | $ | 895,690 | $ | 1,958,857 | $ | 1,252,255 | $ | 1,304,742 | $ | 100,803 | $ | 24,711 | $ | 5,537,058 | |||||||||||||||||||||||||||||
Impaired Financing Receivables | The following table presents the Company’s impaired loans (in thousands). This table excludes loans covered by FDIC loss sharing agreements: | Impaired Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the Company’s impaired loans (in thousands). This table excludes loans covered by FDIC loss sharing agreements: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Recorded | Unpaid | Related | Average | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Investment | Investment | Principal | Allowance | Recorded | |||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | Balance | Investment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired loans: | September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | Impaired loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 12,425 | $ | 12,483 | $ | 2,419 | $ | 12,266 | With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 76,250 | 76,332 | 2,846 | 69,203 | Residential real estate | $ | 12,107 | $ | 12,737 | $ | 2,529 | $ | 13,572 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 39,110 | 39,194 | 8,828 | 35,816 | Commercial real estate | 62,155 | 64,597 | 2,017 | 84,490 | |||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 34,080 | 34,077 | 955 | 34,804 | Commercial non real estate | 32,522 | 37,882 | 3,927 | 31,827 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 223 | 261 | 42 | 251 | Agriculture | 35,528 | 37,958 | 1,155 | 30,546 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 280 | 491 | 51 | 346 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 162,088 | $ | 162,347 | $ | 15,090 | $ | 152,340 | |||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 142,592 | $ | 153,665 | $ | 9,679 | $ | 160,781 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Recorded | Unpaid | Related | Average | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Investment | Investment | Principal | Allowance | Recorded | |||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | Balance | Investment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired loans: | September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | Impaired loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 12,107 | $ | 12,737 | $ | 2,529 | $ | 13,572 | With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 62,155 | 64,597 | 2,017 | 84,490 | Residential real estate | $ | 15,037 | $ | 16,815 | $ | 3,217 | $ | 15,716 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 32,522 | 37,882 | 3,927 | 31,827 | Commercial real estate | 106,824 | 123,523 | 5,341 | 106,780 | |||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 35,528 | 37,958 | 1,155 | 30,546 | Commercial non real estate | 31,132 | 32,557 | 5,607 | 34,817 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 280 | 491 | 51 | 346 | Agriculture | 25,563 | 29,632 | 3,022 | 15,522 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 412 | 656 | 90 | 554 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 142,592 | $ | 153,665 | $ | 9,679 | $ | 160,781 | |||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 178,968 | $ | 203,183 | $ | 17,277 | $ | 173,389 | |||||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides purchased impaired loans at December 31, 2014 and September 30, 2014 (in thousands): | The following table provides purchased impaired loans at September 30, 2014 and September 30, 2013 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | September 30, 2014 | Outstanding | Recorded | Carrying | Outstanding | Recorded | Carrying | |||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding | Recorded | Carrying Value3 | Outstanding | Recorded | Carrying Value3 | Balance1 | Investment2 | Value3 | Balance1 | Investment2 | Value3 | |||||||||||||||||||||||||||||||||||||||||||||||
Balance1 | Investment2 | Balance1 | Investment2 | Residential real estate | $ | 115,863 | $ | 102,987 | $ | 100,203 | $ | 143,998 | $ | 129,905 | $ | 124,871 | ||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 110,493 | $ | 97,779 | $ | 95,406 | $ | 115,863 | $ | 102,987 | $ | 100,203 | Commercial real estate | 130,825 | 49,202 | 48,557 | 172,706 | 85,022 | 84,541 | |||||||||||||||||||||||||||||||||||||||
Commercial real estate | 107,514 | 28,768 | 28,007 | 130,825 | 49,202 | 48,557 | Commercial non real estate | 16,697 | 6,361 | 6,361 | 19,539 | 8,179 | 6,448 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 14,710 | 4,817 | 4,817 | 16,697 | 6,361 | 6,361 | Agriculture | 1,747 | 1,746 | 1,746 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 1,622 | 1,623 | 1,623 | 1,747 | 1,746 | 1,746 | Consumer | 2,019 | 1,843 | 1,818 | 3,721 | 3,202 | 3,202 | |||||||||||||||||||||||||||||||||||||||||||||
Consumer | 1,838 | 1,734 | 1,734 | 2,019 | 1,843 | 1,818 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total lending | $ | 267,151 | $ | 162,139 | $ | 158,685 | $ | 339,964 | $ | 226,308 | $ | 219,062 | ||||||||||||||||||||||||||||||||||||||||||||||
Total lending | $ | 236,177 | $ | 134,721 | $ | 131,587 | $ | 267,151 | $ | 162,139 | $ | 158,685 | ||||||||||||||||||||||||||||||||||||||||||||||
1 | Represents the legal balance of loans acquired with deteriorated credit quality. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2 | Represents the book balance of loans acquired with deteriorated credit quality. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1 | Represents the legal balance of loans acquired with deteriorated credit quality. | 3 | Represents the book balance of loans acquired with deteriorated credit quality net of the related allowance for loan losses. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2 | Represents the book balance of loans acquired with deteriorated credit quality. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3 | Represents the book balance of loans acquired with deteriorated credit quality net of the related allowance for loan losses. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables | The following table presents the recorded value of the Company’s TDR balances as of December 31, 2014 and September 30, 2014 (in thousands): | The following table presents the recorded value of the Company’s TDR balances as of September 30, 2014 and 2013 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | September 30, 2014 | September 30, 2014 | September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accruing | Nonaccrual | Accruing | Nonaccrual | Accruing | Nonaccrual | Accruing | Nonaccrual | |||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | $ | 723 | $ | 1,947 | $ | 1,112 | $ | 1,730 | Residential real estate | $ | 1,112 | $ | 1,730 | $ | 662 | $ | 1,100 | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 41,114 | 6,638 | 25,177 | 6,884 | Commercial real estate | 25,177 | 6,884 | 29,373 | 49,736 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | 7,561 | 1,468 | 6,753 | 1,785 | Commercial non real estate | 6,753 | 1,785 | 4,769 | 5,007 | |||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 3,731 | 9,708 | 3,780 | 9,994 | Agriculture | 3,780 | 9,994 | 4,326 | 7,268 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 17 | 17 | 35 | 22 | Consumer | 35 | 22 | — | 29 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 53,146 | $ | 19,778 | $ | 36,857 | $ | 20,415 | Total | $ | 36,857 | $ | 20,415 | $ | 39,130 | $ | 63,140 | |||||||||||||||||||||||||||||||||||||||||
The following table presents a summary of all accruing loans restructured in TDRs during the three months ended December 31, 2014 and 2013: | The following table presents a summary of all accruing loans restructured in TDRs during the years ended September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended December 31, | Year ended September 30, 2014 | Year ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ($ in thousands) | Number | Recorded Investment | Number | Recorded Investment | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Number | Recorded Investment | Number | Recorded Investment | Pre- | Post- | Pre- | Post- | |||||||||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Pre- | Post- | Pre- | Post- | Modification | Modification | Modification | Modification | ||||||||||||||||||||||||||||||||||||||||||||||||||
Modification | Modification | Modification | Modification | Residential real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | Rate modification | — | $ | — | $ | — | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | $ | — | $ | — | — | $ | — | $ | — | Term extension | 6 | 206 | 206 | 7 | 663 | 663 | |||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | 2 | 74 | 74 | Payment modification | 6 | 474 | 474 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | 1 | 15 | 15 | Bankruptcy | 9 | 338 | 338 | 1 | 5 | 5 | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | 1 | 130 | 130 | Other | 2 | 49 | 49 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total residential real estate | 23 | 1,067 | 1,067 | 8 | 668 | 668 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total residential real estate | — | — | — | 4 | 219 | 219 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | Rate modification | — | — | — | 2 | 990 | 990 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | Term extension | 3 | 109 | 109 | 7 | 4,158 | 4,158 | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | — | — | — | Payment modification | 2 | 2,911 | 2,911 | 3 | 13,497 | 13,497 | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | 2 | 18,881 | 18,881 | 1 | 1,070 | 1,070 | Bankruptcy | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | Other | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate | 5 | 3,020 | 3,020 | 12 | 18,645 | 18,645 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate | 2 | 18,881 | 18,881 | 1 | 1,070 | 1,070 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | Rate modification | — | — | — | 1 | 529 | 529 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | 1 | 32 | 32 | 2 | 500 | 500 | Term extension | 7 | 2,183 | 2,183 | 10 | 14,851 | 14,851 | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | 3 | 1,699 | 1,699 | Payment modification | 10 | 3,593 | 3,593 | 9 | 2,759 | 2,759 | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | 1 | 1,824 | 1,824 | 2 | 668 | 668 | Bankruptcy | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | Other | 5 | 945 | 945 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial non real estate | 22 | 6,721 | 6,721 | 20 | 18,139 | 18,139 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial non real estate | 2 | 1,856 | 1,856 | 7 | 2,867 | 2,867 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | Rate modification | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | Term extension | 5 | 2,755 | 2,755 | 6 | 2,008 | 2,008 | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | — | — | — | Payment modification | — | — | — | 2 | 1,949 | 1,949 | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | — | — | — | Bankruptcy | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | Other | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total agriculture | 5 | 2,755 | 2,755 | 8 | 3,957 | 3,957 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total agriculture | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | Rate modification | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | Term extension | — | — | — | 1 | 3 | 3 | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | — | — | — | Payment modification | 4 | 21 | 21 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | — | — | — | Bankruptcy | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | Other | 2 | 28 | 28 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | 1 | 10 | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer | 6 | 49 | 49 | 1 | 3 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer | — | — | — | 1 | 10 | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total accruing | 61 | $ | 13,612 | $ | 13,612 | 49 | $ | 41,412 | $ | 41,412 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total accruing | 4 | $ | 20,737 | $ | 20,737 | 13 | $ | 4,166 | $ | 4,166 | ||||||||||||||||||||||||||||||||||||||||||||||||
Change in recorded investment due to principal paydown at time of modification | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in recorded investment due to principal paydown at time of modification | — | — | — | — | — | Change in recorded investment due to chargeoffs at time of modification | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Change in recorded investment due to chargeoffs at time of modification | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents a summary of all non-accruing loans restructured in TDRs during the years ended September 30, 2014 and 2013: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents a summary of all non-accruing loans restructured in TDRs during the three months ended December 31, 2014 and 2013: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended September 30, 2014 | Year ended September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended December 31, | ($ in thousands) | Number | Recorded Investment | Number | Recorded Investment | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | Pre- | Post- | Pre- | Post- | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Number | Recorded Investment | Number | Recorded Investment | Modification | Modification | Modification | Modification | |||||||||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Pre- | Post- | Pre- | Post- | Residential real estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Modification | Modification | Modification | Modification | Rate modification | 5 | $ | 119 | $ | 119 | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | Term extension | 13 | 351 | 351 | 15 | 638 | 638 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | $ | — | $ | — | — | $ | — | $ | — | Payment modification | 6 | 219 | 219 | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | 1 | 2 | 2 | Bankruptcy | 7 | 275 | 275 | 2 | 336 | 336 | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | — | — | — | Other | 11 | 425 | 425 | 2 | 147 | 147 | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | 1 | 4 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | 1 | 38 | 38 | Total residential real estate | 42 | 1,389 | 1,389 | 19 | 1,121 | 1,121 | |||||||||||||||||||||||||||||||||||||||||||||
Total residential real estate | — | — | — | 3 | 44 | 44 | Commercial real estate | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | 3 | 1,618 | 1,618 | 2 | 310 | 310 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | Term extension | 2 | 4,031 | 4,031 | 7 | 2,448 | 2,448 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | Payment modification | — | — | — | 7 | 17,578 | 17,578 | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | — | — | — | Bankruptcy | — | — | — | 3 | 3,162 | 3,162 | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | — | — | — | Other | 1 | 87 | 87 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | Total commercial real estate | 6 | 5,736 | 5,736 | 19 | 23,498 | 23,498 | |||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate | — | — | — | — | — | — | Commercial Non Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | 1 | 1,067 | 1,067 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Non Real Estate | Term extension | 10 | 438 | 438 | 8 | 1,127 | 1,127 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | Payment modification | 1 | 36 | 36 | 3 | 2,051 | 1,416 | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | 8 | 125 | 125 | Bankruptcy | 1 | 10 | 10 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | — | — | — | Other | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | Total commercial non real estate | 12 | 484 | 484 | 12 | 4,245 | 3,610 | |||||||||||||||||||||||||||||||||||||||||||||
Total commercial non real estate | — | — | — | 8 | 125 | 125 | Agriculture | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | Term extension | 3 | 831 | 831 | 3 | 768 | 768 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | Payment modification | — | — | — | 4 | 6,196 | 6,196 | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | — | — | — | Bankruptcy | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | — | — | — | Other | 2 | 511 | 511 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | — | Total agriculture | 5 | 1,342 | 1,342 | 7 | 6,964 | 6,964 | |||||||||||||||||||||||||||||||||||||||||||||
Total agriculture | — | — | — | — | — | — | Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | 2 | 11 | 11 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | Term extension | 2 | 15 | 15 | 5 | 30 | 30 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Rate modification | — | — | — | — | — | — | Payment modification | 1 | 2 | 2 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Term extension | — | — | — | 1 | 11 | 11 | Bankruptcy | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Payment modification | — | — | — | — | — | — | Other | 2 | 9 | 9 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
Bankruptcy | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | 1 | 1 | 1 | Total consumer | 5 | 26 | 26 | 7 | 41 | 41 | |||||||||||||||||||||||||||||||||||||||||||||
Total consumer | — | — | — | 2 | 12 | 12 | Total non-accruing | 70 | $ | 8,977 | $ | 8,977 | 64 | $ | 35,869 | $ | 35,234 | |||||||||||||||||||||||||||||||||||||||||
Total non-accruing | — | $ | — | $ | — | 13 | $ | 181 | $ | 181 | Change in recorded investment due to principal paydown at time of modification | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Change in recorded investment due to chargeoffs at time of modification | — | — | — | 1 | $ | 635 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Change in recorded investment due to principal paydown at time of modification | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Change in recorded investment due to chargeoffs at time of modification | — | — | — | — | — | — | For the years ended September 30, 2014 and 2013, the table below represents defaults on loans that were first modified during the respective fiscal year, that became 90 days or more delinquent or were charged-off during the respective fiscal year. | |||||||||||||||||||||||||||||||||||||||||||||||||||
For the three months ended December 31, 2014 and 2013, the table below represents defaults on loans that were first modified during the respective past 12 months, that became 90 days or more delinquent or were charged-off during the three months ended December 31, 2014 and 2013, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Years Ended September 30, 2014 | Years Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended December 31, | Loans | Investment | Loans | Investment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | Residential real estate | 11 | $ | 419 | 5 | $ | 647 | ||||||||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Number of | Recorded | Number of | Recorded | Commercial real estate | — | — | 7 | 4,401 | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Investment | Loans | Investment | Commercial non real estate | 8 | 313 | 1 | 1,067 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential real estate | 6 | $ | 522 | — | $ | — | Agriculture | 2 | 935 | 6 | 5,739 | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 1 | 95 | 2 | 6,296 | Consumer | 1 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial non real estate | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agriculture | 1 | 15 | 1 | 3,676 | 22 | $ | 1,667 | 19 | $ | 11,854 | ||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
8 | $ | 632 | 3 | $ | 9,972 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance_for_Loan_Losses_Tabl
Allowance for Loan Losses (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables | December 31, 2014 and 2013. This table (in thousands) is presented net of unamortized discount on acquired loans and excludes loans measured at fair value with changes in fair value reported in earnings of $1,023.3 million, loans held for sale of $9.4 million, and guaranteed loans of $101.9 million for December 31, 2014 and loans measured at fair value with changes in fair value reported in earnings of $985.4 million, loans held for sale of $10.4 million, and guaranteed loans of $106.5 million for September 30, 2014. | The following table presents the Company’s allowance for loan losses roll forward and respective loan balances for 2014 and 2013. This table (in thousands) is presented net of unamortized discount on acquired loans and excludes loans measured at fair value with changes in fair value reported in earnings of $985.41 million, loans held for sale of $10.38 million, and guaranteed loans of $106.46 million for 2014 and loans measured at fair value with changes in fair value reported in earnings of $841.86 million, loans held for sale of $8.27 million, and guaranteed loans of $104.04 million for 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | Residential | Commercial | Commercial Non | Agriculture | Consumer | Other | Total | As of September 30, 2014 | Residential | Commercial | Commercial | Agriculture | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Real Estate | Real Estate | Non Real | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance October 1, 2014 | $ | 8,342 | $ | 16,884 | $ | 10,550 | $ | 10,655 | $ | 264 | $ | 823 | $ | 47,518 | Allowance for loan losses | |||||||||||||||||||||||||||||||||||||||||||
Charge-offs | (57 | ) | (82 | ) | (84 | ) | — | (38 | ) | (428 | ) | (689 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Recoveries | 43 | 69 | 1,160 | 57 | 24 | 319 | 1,672 | Beginning balance October 1, 2013 | $ | 11,779 | $ | 22,562 | $ | 11,222 | $ | 9,296 | $ | 312 | $ | 693 | $ | 55,864 | ||||||||||||||||||||||||||||||||||||
Provision | (350 | ) | 735 | 2,999 | 208 | (24 | ) | 71 | 3,639 | Charge-offs | (631 | ) | (3,199 | ) | (5,380 | ) | (2,429 | ) | (211 | ) | (1,893 | ) | (13,743 | ) | ||||||||||||||||||||||||||||||||||
Impairment of loans acquired with deteriorated credit quality | (411 | ) | 116 | — | — | (25 | ) | — | (320 | ) | Recoveries | 233 | 1,470 | 1,439 | 58 | 156 | 1,357 | 4,713 | ||||||||||||||||||||||||||||||||||||||||
Provision | (788 | ) | (4,114 | ) | 4,980 | 3,730 | (18 | ) | 666 | 4,456 | ||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance December 31, 2014 | $ | 7,567 | $ | 17,722 | $ | 14,625 | $ | 10,920 | $ | 201 | $ | 785 | $ | 51,820 | Impairment of loans acquired with deteriorated credit quality | (2,251 | ) | 165 | (1,711 | ) | — | 25 | — | (3,772 | ) | |||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 2,418 | $ | 2,783 | $ | 8,816 | $ | 948 | $ | 42 | $ | — | $ | 15,007 | Ending balance September 30, 2014 | $ | 8,342 | $ | 16,884 | $ | 10,550 | $ | 10,655 | $ | 264 | $ | 823 | $ | 47,518 | |||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 2,776 | $ | 11,986 | $ | 5,809 | $ | 9,972 | $ | 159 | $ | 785 | $ | 31,487 | Ending balance: individually evaluated for impairment | $ | 2,528 | $ | 1,953 | $ | 3,909 | $ | 1,152 | $ | 51 | $ | — | $ | 9,593 | |||||||||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 2,373 | $ | 761 | $ | — | $ | — | $ | — | $ | — | $ | 3,134 | Ending balance: collectively evaluated for impairment | $ | 3,030 | $ | 12,034 | $ | 6,641 | $ | 9,503 | $ | 188 | $ | 823 | $ | 32,219 | |||||||||||||||||||||||||||||
Ending balance: loans acquired without deteriorated credit quality | $ | — | $ | 2,192 | $ | — | $ | — | $ | — | $ | — | $ | 2,192 | Ending balance: loans acquired with deteriorated credit quality | $ | 2,784 | $ | 645 | $ | — | $ | — | $ | 25 | $ | — | $ | 3,454 | |||||||||||||||||||||||||||||
Financing receivables | Ending balance: loans acquired without deteriorated credit quality | $ | — | $ | 2,252 | $ | — | $ | — | $ | — | $ | — | $ | 2,252 | |||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 890,085 | $ | 2,291,220 | $ | 1,088,065 | $ | 1,468,565 | $ | 85,721 | $ | 35,311 | $ | 5,858,967 | ||||||||||||||||||||||||||||||||||||||||||||
Financing receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 9,592 | $ | 66,049 | $ | 37,961 | $ | 23,743 | $ | 142 | $ | — | $ | 137,487 | Ending balance | $ | 879,971 | $ | 2,057,456 | $ | 1,266,103 | $ | 1,364,399 | $ | 89,899 | $ | 34,243 | $ | 5,692,071 | |||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 671,566 | $ | 2,113,647 | $ | 1,038,540 | $ | 1,422,861 | $ | 81,525 | $ | 35,311 | $ | 5,363,450 | Ending balance: individually evaluated for impairment | $ | 9,384 | $ | 38,457 | $ | 28,298 | $ | 25,655 | $ | 166 | $ | — | $ | 101,960 | |||||||||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 97,779 | $ | 28,768 | $ | 4,817 | $ | 1,623 | $ | 1,734 | $ | — | $ | 134,721 | Ending balance: collectively evaluated for impairment | $ | 649,970 | $ | 1,874,474 | $ | 1,224,035 | $ | 1,319,343 | $ | 85,065 | $ | 34,243 | $ | 5,187,130 | |||||||||||||||||||||||||||||
Ending balance: loans acquired without deteriorated credit quality | $ | 111,148 | $ | 82,756 | $ | 6,747 | $ | 20,338 | $ | 2,320 | $ | — | $ | 223,309 | Ending balance: loans acquired with deteriorated credit quality | $ | 102,987 | $ | 49,202 | $ | 6,361 | $ | 1,746 | $ | 1,843 | $ | — | $ | 162,139 | |||||||||||||||||||||||||||||
Ending balance: loans acquired without deteriorated credit quality | $ | 117,630 | $ | 95,323 | $ | 7,409 | $ | 17,655 | $ | 2,825 | $ | — | $ | 240,842 | ||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | Residential | Commercial | Commercial Non | Agricultural | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | As of September 30, 2013 | Residential | Commercial | Commercial | Agricultural | Consumer | Other | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance October 1, 2013 | $ | 11,779 | $ | 22,562 | $ | 11,222 | $ | 9,296 | $ | 312 | $ | 693 | $ | 55,864 | Real Estate | Real Estate | Non Real | |||||||||||||||||||||||||||||||||||||||||
Charge-offs | (230 | ) | — | (161 | ) | — | (56 | ) | (470 | ) | (917 | ) | Estate | |||||||||||||||||||||||||||||||||||||||||||||
Recoveries | 75 | 591 | 887 | 17 | 36 | 391 | 1,997 | Allowance for loan losses | ||||||||||||||||||||||||||||||||||||||||||||||||||
Provision | 230 | (861 | ) | (646 | ) | (57 | ) | 98 | 111 | (1,125 | ) | |||||||||||||||||||||||||||||||||||||||||||||||
Impairment of loans acquired with deteriorated credit quality | — | — | 250 | — | — | — | 250 | Beginning balance October 1, 2012 | $ | 14,761 | $ | 30,234 | $ | 18,979 | $ | 6,906 | $ | 542 | $ | 456 | $ | 71,878 | ||||||||||||||||||||||||||||||||||||
Charge-offs | (1,766 | ) | (19,648 | ) | (3,636 | ) | (4,069 | ) | (244 | ) | (1,851 | ) | (31,214 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance December 31, 2013 | $ | 11,854 | $ | 22,292 | $ | 11,552 | $ | 9,256 | $ | 390 | $ | 725 | $ | 56,069 | Recoveries | 279 | 689 | 1,206 | 22 | 396 | 1,034 | 3,626 | ||||||||||||||||||||||||||||||||||||
Provision | 1,043 | 10,925 | (5,427 | ) | 6,437 | (382 | ) | 1,054 | 13,650 | |||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 3,128 | $ | 5,355 | $ | 6,227 | $ | 2,724 | $ | 167 | $ | — | $ | 17,601 | Impairment of loans acquired with deteriorated credit quality | (2,538 | ) | 362 | 100 | — | — | — | (2,076 | ) | ||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 3,691 | $ | 16,207 | $ | 3,614 | $ | 6,532 | $ | 223 | $ | 725 | $ | 30,992 | Ending balance September 30, 2013 | $ | 11,779 | $ | 22,562 | $ | 11,222 | $ | 9,296 | $ | 312 | $ | 693 | $ | 55,864 | |||||||||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 5,035 | $ | 730 | $ | 1,711 | $ | — | $ | — | $ | — | $ | 7,476 | Ending balance: individually evaluated for impairment | $ | 3,212 | $ | 5,095 | $ | 5,594 | $ | 3,016 | $ | 90 | $ | — | $ | 17,007 | |||||||||||||||||||||||||||||
Ending balance: loans acquired without deteriorated credit quality | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | Ending balance: collectively evaluated for impairment | $ | 3,533 | $ | 16,986 | $ | 3,897 | $ | 6,280 | $ | 222 | $ | 693 | $ | 31,611 | |||||||||||||||||||||||||||||
Financing receivables | Ending balance: loans acquired with deteriorated credit quality | $ | 5,034 | $ | 481 | $ | 1,731 | $ | — | $ | — | $ | — | $ | 7,246 | |||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 890,073 | $ | 2,299,661 | $ | 1,079,956 | $ | 1,466,851 | $ | 85,721 | $ | 35,311 | $ | 5,857,573 | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance: loans acquired without deteriorated credit quality | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 10,037 | $ | 68,973 | $ | 31,299 | $ | 22,666 | $ | 582 | $ | — | $ | 133,557 | ||||||||||||||||||||||||||||||||||||||||||||
Financing receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 611,785 | $ | 2,019,099 | $ | 1,025,543 | $ | 1,412,871 | $ | 77,315 | $ | 35,311 | $ | 5,181,924 | Ending balance | $ | 885,245 | $ | 1,926,828 | $ | 1,191,500 | $ | 1,295,661 | $ | 100,803 | $ | 24,711 | $ | 5,424,748 | |||||||||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 122,068 | $ | 80,903 | $ | 6,833 | $ | — | $ | 2,646 | $ | — | $ | 212,450 | Ending balance: individually evaluated for impairment | $ | 8,917 | $ | 77,620 | $ | 27,527 | $ | 23,719 | $ | 292 | $ | — | $ | 138,075 | |||||||||||||||||||||||||||||
Ending balance: loans acquired without deteriorated credit quality | $ | 146,183 | $ | 130,686 | $ | 16,281 | $ | 31,314 | $ | 5,178 | $ | — | $ | 329,642 | Ending balance: collectively evaluated for impairment | $ | 589,104 | $ | 1,623,274 | $ | 1,136,611 | $ | 1,240,281 | $ | 91,178 | $ | 24,711 | $ | 4,705,159 | |||||||||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 129,905 | $ | 85,022 | $ | 8,179 | $ | — | $ | 3,202 | $ | — | $ | 226,308 | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance: loans acquired without deteriorated credit quality | $ | 157,319 | $ | 140,912 | $ | 19,183 | $ | 31,661 | $ | 6,131 | $ | — | $ | 355,206 | ||||||||||||||||||||||||||||||||||||||||||||
Accounting_for_Certain_Loans_A1
Accounting for Certain Loans Acquired with Deteriorated Credit Quality (Tables) | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||
Text Block [Abstract] | ||||||||||
Troubled Debt Restructurings on Financing Receivables | homogenous loans. The re-assessment of purchased impaired loans resulted in the following changes in the accretable yield during the three months ended December 31, 2014 and 2013 (in thousands): | The re-assessment of purchased impaired loans resulted in the following changes in the accretable yield during 2014 and 2013 (in thousands): | ||||||||
Balance at September 30, 2014 | $ | 50,889 | Balance at September 30, 2012 | $ | 93,859 | |||||
Accretion | (4,787 | ) | Accretion | (29,674 | ) | |||||
Reclassification from nonaccretable difference | 320 | Reclassification from nonaccretable difference | 6,815 | |||||||
Disposals | (80 | ) | Disposals | (3,340 | ) | |||||
Balance at December 31, 2014 | 46,342 | Balance at September 30, 2013 | 67,660 | |||||||
Accretion | (18,204 | ) | ||||||||
Balance at September 30, 2013 | $ | 67,660 | Reclassification from nonaccretable difference | 6,252 | ||||||
Accretion | (4,430 | ) | Disposals | (4,819 | ) | |||||
Reclassification from nonaccretable difference | — | |||||||||
Disposals | (4,819 | ) | Balance at September 30, 2014 | $ | 50,889 | |||||
Balance at December 31, 2013 | $ | 58,411 | ||||||||
FDIC_Indemnification_Asset_Tab
FDIC Indemnification Asset (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||
Text Block [Abstract] | ||||||||||||||||||
FDIC indemnification asset roll forward | increase, respectively, the amount recoverable from the FDIC. The following table represents a summary of the activity related to the FDIC indemnification asset for the three months ended December 2014 and 2013 (in thousands): | The following table represents a summary of the activity related to the FDIC indemnification asset for the years ended September 2014 and 2013 (in thousands): | ||||||||||||||||
Three Months Ended | 2014 | 2013 | ||||||||||||||||
December 31, | Balance at beginning of year | $ | 45,690 | $ | 68,662 | |||||||||||||
2014 | 2013 | Amortization | (14,604 | ) | (14,758 | ) | ||||||||||||
Balance at beginning of year | $ | 26,678 | $ | 45,690 | Changes in expected reimbursements from FDIC for changes in expected credit losses | 2,148 | 522 | |||||||||||
Amortization | (2,534 | ) | (3,285 | ) | Changes in reimbursable expenses | 2,358 | (3,453 | ) | ||||||||||
Changes in expected reimbursements from FDIC for changes in expected credit losses | (191 | ) | (26 | ) | Payments to/(from) the FDIC | (8,914 | ) | (5,283 | ) | |||||||||
Changes in reimbursable expenses | (156 | ) | 10 | |||||||||||||||
Payments to/(from) the FDIC | (1,635 | ) | (633 | ) | Balance at end of year | $ | 26,678 | $ | 45,690 | |||||||||
Balance at end of year | $ | 22,162 | $ | 41,756 | ||||||||||||||
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Schedule of Premises and Equipment | The major classes of premises and equipment and the total amount of accumulated depreciation as of September 30, 2014 and 2013, are as follows (in thousands): | ||||||||
2014 | 2013 | ||||||||
Land | $ | 22,539 | $ | 23,238 | |||||
Buildings and building improvements | 85,370 | 88,171 | |||||||
Furniture and equipment | 32,117 | 42,721 | |||||||
Construction in progress | 144 | 55 | |||||||
140,170 | 154,185 | ||||||||
Accumulated depreciation | (36,463 | ) | (39,805 | ) | |||||
$ | 103,707 | $ | 114,380 | ||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table summarizes the notional amounts and estimated fair values of the Company’s derivative instruments at December 31, 2014 and September 30, 2014 (in thousands). | The following table summarizes the notional amounts and estimated fair values of the Company’s derivative instruments at September 30, 2014 and 2013 (in thousands). | ||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | 2014 | |||||||||||||||||||||||||||||||||||||||||
Notional | Balance | Positive | Negative | Notional | Balance Sheet | Positive Fair | Negative Fair | |||||||||||||||||||||||||||||||||||
Amount | Sheet | Fair | Fair | Amount | Location | Value | Value | |||||||||||||||||||||||||||||||||||
Location | Value | Value | Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | Interest rate swaps | $ | 986,440 | Liabilities | $ | 6,213 | $ | (19,286 | ) | |||||||||||||||||||||||||||||||||
Interest rate swaps | $ | 1,018,809 | Liabilities | $ | 1,118 | $ | (33,513 | ) | Mortgage loan commitments | 22,563 | Assets | 19 | — | |||||||||||||||||||||||||||||
Mortgage loan commitments | 31,834 | Assets | 14 | — | Mortgage loan forward sale contracts | 28,459 | Liabilities | — | (19 | ) | ||||||||||||||||||||||||||||||||
Mortgage loan forward sale contracts | 36,004 | Liabilities | — | (14 | ) | |||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | Notional | Balance Sheet | Positive Fair | Negative Fair | ||||||||||||||||||||||||||||||||||||||
Notional | Balance | Positive | Negative | Amount | Location | Value | Value | |||||||||||||||||||||||||||||||||||
Amount | Sheet | Fair | Fair | Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||||||||||||||
Location | Value | Value | Interest rate swaps | $ | 864,040 | Liabilities | $ | 12,404 | $ | (13,555 | ) | |||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | Mortgage loan commitments | 16,040 | Assets | 375 | — | |||||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | 986,440 | Liabilities | $ | 6,213 | $ | (19,286 | ) | Mortgage loan forward sale contracts | 21,881 | Liabilities | — | (375 | ) | ||||||||||||||||||||||||||||
Mortgage loan commitments | 22,563 | Assets | 19 | — | ||||||||||||||||||||||||||||||||||||||
Mortgage loan forward sale contracts | 28,459 | Liabilities | — | (19 | ) | |||||||||||||||||||||||||||||||||||||
Schedule of derivative instruments, effect on other comprehensive income (loss) | The effect of derivatives on the consolidated statements of comprehensive income for the three months ended December 31, 2014 and 2013 (in thousands) was as follows: | The effect of derivatives on the consolidated statements of comprehensive income for the years ended September 30, 2014, 2013 and 2012 (in thousands) was as follows: | ||||||||||||||||||||||||||||||||||||||||
Location of | Amount of Gain (Loss) | Location of | Amount of Gain (Loss) Recognized | |||||||||||||||||||||||||||||||||||||||
Gain (Loss) | Recognized in Income | Gain (Loss) Recognized in | in Income | |||||||||||||||||||||||||||||||||||||||
Recognized in Income | December 31, | December 31, | Income | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | Interest rate swaps | Noninterest income | $ | (11,922 | ) | $ | 40,305 | $ | (19,369 | ) | ||||||||||||||||||||||||||||||||
Interest rate swaps | Noninterest income | $ | (24,605 | ) | $ | 4,837 | Mortgage loan commitments | Noninterest income | 19 | 375 | (1,661 | ) | ||||||||||||||||||||||||||||||
Mortgage loan commitments | Noninterest income | 14 | 3 | Mortgage loan forward sale contracts | Noninterest income | (19 | ) | (375 | ) | 1,661 | ||||||||||||||||||||||||||||||||
Mortgage loan forward sale contracts | Noninterest income | (14 | ) | (3 | ) | |||||||||||||||||||||||||||||||||||||
Offsetting liabilities | The following tables (in thousands) present the Company’s gross derivative financial assets and liabilities at December 31, 2014 and September 30, 2014, and the related impact of enforceable master netting arrangements and cash collateral, where applicable: | The following tables (in thousands) present the Company’s gross derivative financial assets and liabilities at September 30, 2014 and 2013, and the related impact of enforceable master netting arrangements and cash collateral, where applicable: | ||||||||||||||||||||||||||||||||||||||||
Gross | Amount | Net Amount | Held/ | Net | Gross | Amount | Net Amount | Held/Pledged | Net | |||||||||||||||||||||||||||||||||
Amount | Offset | Presented in | Pledged | Amount | Amount | Offset | Presented in | Financial | Amount | |||||||||||||||||||||||||||||||||
Consolidated | Financial | Consolidated | Instruments1 | |||||||||||||||||||||||||||||||||||||||
Balance | Instruments1 | Balance Sheets | ||||||||||||||||||||||||||||||||||||||||
Sheets | September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | Derivative financial assets: | |||||||||||||||||||||||||||||||||||||||||
Derivative financial assets: | Derivatives subject to master netting arrangement or similar arrangement | $ | 6,213 | $ | (6,213 | ) | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
Derivatives subject to master netting arrangement or similar arrangement | $ | 1,118 | $ | (1,118 | ) | $ | — | $ | — | $ | — | Derivative financial liabilities: | ||||||||||||||||||||||||||||||
Derivative financial liabilities: | Derivatives subject to master netting arrangement or similar arrangement | (19,286 | ) | 6,213 | (13,073 | ) | 13,073 | — | ||||||||||||||||||||||||||||||||||
Derivatives subject to master netting arrangement or similar arrangement | (33,513 | ) | 1,118 | (32,395 | ) | 32,395 | — | |||||||||||||||||||||||||||||||||||
Total derivative financial liabilities | $ | (13,073 | ) | $ | — | $ | (13,073 | ) | $ | 13,073 | $ | — | ||||||||||||||||||||||||||||||
Total derivative financial liabilities | $ | (32,395 | ) | $ | — | $ | (32,395 | ) | $ | 32,395 | $ | — | ||||||||||||||||||||||||||||||
1 | The actual amount of collateral exceeds the fair value exposure, at the individual counterparty level, as of the date presented. | |||||||||||||||||||||||||||||||||||||||||
1 | The actual amount of collateral exceeds the fair value exposure, at the individual counterparty level, as of the date presented. | |||||||||||||||||||||||||||||||||||||||||
Gross | Amount | Net Amount | Held/Pledged | Net | ||||||||||||||||||||||||||||||||||||||
Gross | Amount | Net Amount | Held/ | Net | Amount | Offset | Presented in | Financial | Amount | |||||||||||||||||||||||||||||||||
Amount | Offset | Presented in | Pledged | Amount | Consolidated | Instruments | ||||||||||||||||||||||||||||||||||||
Consolidated | Financial | Balance Sheets | ||||||||||||||||||||||||||||||||||||||||
Balance | Instruments | September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||
Sheets | Derivative financial assets: | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | Derivatives subject to master netting arrangement or similar arrangement | $ | 12,404 | $ | (12,404 | ) | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
Derivative financial assets: | Derivative financial liabilities: | |||||||||||||||||||||||||||||||||||||||||
Derivatives subject to master netting arrangement or similar arrangement | $ | 6,213 | $ | (6,213 | ) | $ | — | $ | — | $ | — | Derivatives subject to master netting arrangement or similar arrangement | (13,555 | ) | 12,404 | (1,151 | ) | — | (1,151 | ) | ||||||||||||||||||||||
Derivative financial liabilities: | ||||||||||||||||||||||||||||||||||||||||||
Derivatives subject to master netting arrangement or similar arrangement | (19,286 | ) | 6,213 | (13,073 | ) | 13,073 | — | Total derivative financial liabilities | $ | (1,151 | ) | $ | — | $ | (1,151 | ) | $ | — | $ | (1,151 | ) | |||||||||||||||||||||
Total derivative financial liabilities | $ | (13,073 | ) | $ | — | $ | (13,073 | ) | $ | 13,073 | $ | — | ||||||||||||||||||||||||||||||
Offsetting assets | The following tables (in thousands) present the Company’s gross derivative financial assets and liabilities at December 31, 2014 and September 30, 2014, and the related impact of enforceable master netting arrangements and cash collateral, where applicable: | The following tables (in thousands) present the Company’s gross derivative financial assets and liabilities at September 30, 2014 and 2013, and the related impact of enforceable master netting arrangements and cash collateral, where applicable: | ||||||||||||||||||||||||||||||||||||||||
Gross | Amount | Net Amount | Held/ | Net | Gross | Amount | Net Amount | Held/Pledged | Net | |||||||||||||||||||||||||||||||||
Amount | Offset | Presented in | Pledged | Amount | Amount | Offset | Presented in | Financial | Amount | |||||||||||||||||||||||||||||||||
Consolidated | Financial | Consolidated | Instruments1 | |||||||||||||||||||||||||||||||||||||||
Balance | Instruments1 | Balance Sheets | ||||||||||||||||||||||||||||||||||||||||
Sheets | September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | Derivative financial assets: | |||||||||||||||||||||||||||||||||||||||||
Derivative financial assets: | Derivatives subject to master netting arrangement or similar arrangement | $ | 6,213 | $ | (6,213 | ) | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
Derivatives subject to master netting arrangement or similar arrangement | $ | 1,118 | $ | (1,118 | ) | $ | — | $ | — | $ | — | Derivative financial liabilities: | ||||||||||||||||||||||||||||||
Derivative financial liabilities: | Derivatives subject to master netting arrangement or similar arrangement | (19,286 | ) | 6,213 | (13,073 | ) | 13,073 | — | ||||||||||||||||||||||||||||||||||
Derivatives subject to master netting arrangement or similar arrangement | (33,513 | ) | 1,118 | (32,395 | ) | 32,395 | — | |||||||||||||||||||||||||||||||||||
Total derivative financial liabilities | $ | (13,073 | ) | $ | — | $ | (13,073 | ) | $ | 13,073 | $ | — | ||||||||||||||||||||||||||||||
Total derivative financial liabilities | $ | (32,395 | ) | $ | — | $ | (32,395 | ) | $ | 32,395 | $ | — | ||||||||||||||||||||||||||||||
1 | The actual amount of collateral exceeds the fair value exposure, at the individual counterparty level, as of the date presented. | |||||||||||||||||||||||||||||||||||||||||
1 | The actual amount of collateral exceeds the fair value exposure, at the individual counterparty level, as of the date presented. | |||||||||||||||||||||||||||||||||||||||||
Gross | Amount | Net Amount | Held/Pledged | Net | ||||||||||||||||||||||||||||||||||||||
Gross | Amount | Net Amount | Held/ | Net | Amount | Offset | Presented in | Financial | Amount | |||||||||||||||||||||||||||||||||
Amount | Offset | Presented in | Pledged | Amount | Consolidated | Instruments | ||||||||||||||||||||||||||||||||||||
Consolidated | Financial | Balance Sheets | ||||||||||||||||||||||||||||||||||||||||
Balance | Instruments | September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||
Sheets | Derivative financial assets: | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | Derivatives subject to master netting arrangement or similar arrangement | $ | 12,404 | $ | (12,404 | ) | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
Derivative financial assets: | Derivative financial liabilities: | |||||||||||||||||||||||||||||||||||||||||
Derivatives subject to master netting arrangement or similar arrangement | $ | 6,213 | $ | (6,213 | ) | $ | — | $ | — | $ | — | Derivatives subject to master netting arrangement or similar arrangement | (13,555 | ) | 12,404 | (1,151 | ) | — | (1,151 | ) | ||||||||||||||||||||||
Derivative financial liabilities: | ||||||||||||||||||||||||||||||||||||||||||
Derivatives subject to master netting arrangement or similar arrangement | (19,286 | ) | 6,213 | (13,073 | ) | 13,073 | — | Total derivative financial liabilities | $ | (1,151 | ) | $ | — | $ | (1,151 | ) | $ | — | $ | (1,151 | ) | |||||||||||||||||||||
Total derivative financial liabilities | $ | (13,073 | ) | $ | — | $ | (13,073 | ) | $ | 13,073 | $ | — | ||||||||||||||||||||||||||||||
The_Fair_Value_Option_Tables
The Fair Value Option (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||
Fair value, option, quantitative disclosures | Changes in fair value for items for which the fair value option has been elected and the line items in which these changes are reported are as follows for the three months ended December 31, 2014 and 2013 (in thousands): | Changes in fair value for items for which the fair value option has been elected and the line items in which these changes are reported are as follows for the years ended September 30, 2014, 2013 and 2012 (in thousands): | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Noninterest | Total Changes | Noninterest | Total Changes | Noninterest | Total Changes | Noninterest | Total Changes | Noninterest | Total Changes | |||||||||||||||||||||||||||||||||
Income | in Fair Value | Income | in Fair Value | Income | in Fair Value | Income | in Fair Value | Income | in Fair Value | |||||||||||||||||||||||||||||||||
Long-term loans and written loan commitments | $ | 17,100 | $ | 17,100 | $ | (9,110 | ) | $ | (9,110 | ) | Long-term loans and written loan commitments | $ | 11,904 | $ | 11,904 | $ | (41,160 | ) | $ | (41,160 | ) | $ | 15,093 | $ | 15,093 |
Goodwill_Tables
Goodwill (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||
Changes in Carrying Amount of Goodwill | Changes in the carrying amount of goodwill for the years ended September 30, 2014 and 2013, are as follows (in thousands): | ||||||||
2014 | 2013 | ||||||||
Balance, beginning of year | $ | 697,807 | $ | 697,807 | |||||
Arising from prior period purchases | — | — | |||||||
Arising from business acquisitions | — | — | |||||||
Balance, end of year | $ | 697,807 | $ | 697,807 | |||||
Core_Deposits_and_Other_Intang1
Core Deposits and Other Intangibles (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||
Finite-lived intangible assets amortization expense | A summary of intangible assets subject to amortization is as follows (in thousands): | A summary of intangible assets subject to amortization is as follows (in thousands): | ||||||||||||||||||||||||||||||||||||
Core | Brand | Customer | Total | Core Deposit | Brand | Customer | Other | Total | ||||||||||||||||||||||||||||||
Deposit | Intangible | Relationships | Intangible | Intangible | Relationships | |||||||||||||||||||||||||||||||||
Intangible | Intangible | Intangible | ||||||||||||||||||||||||||||||||||||
As of December 31,2014 | As of September 30, 2014 | |||||||||||||||||||||||||||||||||||||
Gross carrying amount | $ | 92,679 | $ | 8,464 | $ | 16,089 | $ | 117,232 | Gross carrying amount | $ | 92,679 | $ | 8,464 | $ | 16,089 | $ | — | $ | 117,232 | |||||||||||||||||||
Accumulated amortization | (89,121 | ) | (3,713 | ) | (12,482 | ) | (105,316 | ) | Accumulated amortization | (87,423 | ) | (3,572 | ) | (12,008 | ) | — | (103,003 | ) | ||||||||||||||||||||
$ | 3,558 | $ | 4,751 | $ | 3,607 | $ | 11,916 | $ | 5,256 | $ | 4,892 | $ | 4,081 | $ | — | $ | 14,229 | |||||||||||||||||||||
As of September 30, 2014 | As of September 30, 2013 | |||||||||||||||||||||||||||||||||||||
Gross carrying amount | $ | 92,679 | $ | 8,464 | $ | 16,089 | $ | 117,232 | Gross carrying amount | $ | 92,679 | $ | 8,464 | $ | 16,089 | $ | — | $ | 117,232 | |||||||||||||||||||
Accumulated amortization | (87,423 | ) | (3,572 | ) | (12,008 | ) | (103,003 | ) | Accumulated amortization | (73,668 | ) | (3,008 | ) | (10,112 | ) | — | (86,788 | ) | ||||||||||||||||||||
$ | 5,256 | $ | 4,892 | $ | 4,081 | $ | 14,229 | $ | 19,011 | $ | 5,456 | $ | 5,977 | $ | — | $ | 30,444 | |||||||||||||||||||||
Schedule of Finite-lived Intangible Assets, Future Amortization Expense | assets. Estimated amortization expense of intangible assets in subsequent fiscal years is as follows (in thousands): | Estimated amortization expense of intangible assets in subsequent fiscal years is as follows (in thousands): | ||||||||||||||||||||||||||||||||||||
Remaining in 2015 | $ | 4,797 | 2015 | $ | 7,110 | |||||||||||||||||||||||||||||||||
2016 | 2,822 | 2016 | 2,822 | |||||||||||||||||||||||||||||||||||
2017 | 1,097 | 2017 | 1,097 | |||||||||||||||||||||||||||||||||||
2018 | 564 | 2018 | 564 | |||||||||||||||||||||||||||||||||||
2019 | 564 | 2019 | 564 | |||||||||||||||||||||||||||||||||||
2020 and thereafter | 2,072 | 2020 and thereafter | 2,072 | |||||||||||||||||||||||||||||||||||
$ | 11,916 | $ | 14,229 | |||||||||||||||||||||||||||||||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Banking and Thrift [Abstract] | |||||||||
Composition of Deposits | The composition of deposits as of September 30, 2014 and 2013, is as follows (in thousands): | ||||||||
2014 | 2013 | ||||||||
Noninterest-bearing demand | $ | 1,303,015 | $ | 1,199,427 | |||||
NOW accounts, money market and savings | 4,005,471 | 3,601,796 | |||||||
Time certificates, $100,000 or more | 733,376 | 850,817 | |||||||
Other time certificates | 1,010,318 | 1,296,168 | |||||||
$ | 7,052,180 | $ | 6,948,208 | ||||||
Scheduled Maturities of Time Certificates | At September 30, 2014, the scheduled maturities of time certificates in subsequent fiscal years are as follows (in thousands): | ||||||||
2015 | $ | 1,137,736 | |||||||
2016 | 316,194 | ||||||||
2017 | 132,565 | ||||||||
2018 | 78,430 | ||||||||
2019 | 36,359 | ||||||||
2020 and thereafter | 42,410 | ||||||||
$ | 1,743,694 | ||||||||
FHLB_Advances_Related_Party_No1
FHLB Advances, Related Party Notes Payable and Other Borrowings (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||
Federal Home Loan Banks [Abstract] | ||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable | FHLB advances, related party notes payable, and other borrowings consist of the following at December 31, 2014 and September 30, 2014 (in thousands): | FHLB advances, related party notes payable, and other borrowings consist of the following at September 30, 2014 and 2013 (in thousands): | ||||||||||||||||
December 31, | September 30, | 2014 | 2013 | |||||||||||||||
2014 | 2014 | Subordinated capital note to NAB New York (a branch of NAB), due June 2018 (callable June 2015), interest paid quarterly based on LIBOR plus 205 basis points, unsecured | $ | 35,795 | $ | 35,795 | ||||||||||||
Subordinated capital note to NAB New York (a branch of NAB), due June 2018 (callable June 2015), interest paid quarterly based on LIBOR plus 205 basis points, unsecured | $ | 35,795 | $ | 35,795 | $10,000 revolving line of credit to NAB due on demand, interest paid monthly based on LIBOR plus 125 basis points, unsecured | 5,500 | 5,500 | |||||||||||
$10,000 revolving line of credit to NAB due on demand, interest paid monthly based on LIBOR plus 125 basis points, unsecured | 5,500 | 5,500 | ||||||||||||||||
Total related party notes payable | 41,295 | 41,295 | Total related party notes payable | 41,295 | 41,295 | |||||||||||||
Notes payable to Federal Home Loan Bank (FHLB), interest rates from 0.21% to 3.66% and maturity dates from January 2015 to July 2023, collateralized by real estate loans and FHLB stock, with various call dates at the option of the FHLB | 575,000 | 575,000 | Notes payable to Federal Home Loan Bank (FHLB), interest rates from 0.21% to 3.66% and maturity dates from April 2015 to July 2023, collateralized by real estate loans and FHLB stock, with various call dates at the option of the FHLB | 575,000 | 390,500 | |||||||||||||
Other | 85 | 94 | Other | 94 | 107 | |||||||||||||
Total FHLB advances and other borrowings | 575,085 | 575,094 | Total FHLB advances and other borrowings | 575,094 | 390,607 | |||||||||||||
$ | 616,380 | $ | 616,389 | $ | 616,389 | $ | 431,902 | |||||||||||
Schedule of subsequent events | As of December 31, 2014, FHLB advances, related party notes payable and other borrowings are due or callable (whichever is earlier) in subsequent fiscal years as follows (in thousands): | As of September 30, 2014, FHLB advances, related party notes payable and other borrowings are due or callable (whichever is earlier) in subsequent fiscal years as follows (in thousands): | ||||||||||||||||
Remaining in 2015 | $ | 95,585 | 2015 | $ | 70,594 | |||||||||||||
2016 | 90,000 | 2016 | 90,000 | |||||||||||||||
2017 | 25,000 | 2017 | 25,000 | |||||||||||||||
2018 | 60,795 | 2018 | 60,795 | |||||||||||||||
2019 | 75,000 | 2019 | 100,000 | |||||||||||||||
2020 and thereafter | 270,000 | 2020 and thereafter | 270,000 | |||||||||||||||
$ | 616,380 | $ | 616,389 | |||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||||||||||
Schedule of components of income tax expense (benefit) | The provision for income taxes charged to operations consists of the following for the three months ended December 31, 2014 and 2013 (in thousands): | The provision for income taxes charged to operations consists of the following for the years ended September 30, 2014 and 2013 (in thousands): | ||||||||||||||||||||
Three Months Ended | 2014 | 2013 | 2012 | |||||||||||||||||||
December 31, | Currently paid or payable | |||||||||||||||||||||
2014 | 2013 | Federal | $ | 58,172 | $ | 51,828 | $ | 51,677 | ||||||||||||||
Currently paid or payable | State | 8,638 | 8,158 | 7,200 | ||||||||||||||||||
Federal | $ | 13,673 | $ | 15,967 | ||||||||||||||||||
State | 1,993 | 2,669 | 66,810 | 59,986 | 58,877 | |||||||||||||||||
Deferred tax (benefit) expense | (12,463 | ) | (6,088 | ) | (14,719 | ) | ||||||||||||||||
15,666 | 18,636 | |||||||||||||||||||||
Deferred tax benefit | (1,964 | ) | (3,697 | ) | Income tax expense | $ | 54,347 | $ | 53,898 | $ | 44,158 | |||||||||||
Income tax expense | $ | 13,702 | $ | 14,939 | ||||||||||||||||||
Schedule of effective income tax rate reconciliation | The income tax provision differs from the amount of income tax determined by applying the U.S. federal income tax rate to pretax income due to the following for the three months ended December 31, 2014 and 2013 (in thousands): | The income tax provision differs from the amount of income tax determined by applying the U.S. federal income tax rate to pretax income due to the following for the years ended September 30, 2014 and 2013 (in thousands): | ||||||||||||||||||||
Three Months Ended | 2014 | 2013 | 2012 | |||||||||||||||||||
December 31, | Computed “expected” tax expense (35%) | $ | 55,754 | $ | 52,550 | $ | 41,004 | |||||||||||||||
2014 | 2013 | Increase (decrease) in income taxes resulting from: | ||||||||||||||||||||
Tax at statutory rate (35%) | $ | 14,019 | $ | 15,240 | Tax exempt interest income | (4,926 | ) | (3,856 | ) | (2,348 | ) | |||||||||||
Increase (decrease) in income taxes resulting from: | State income taxes, net of federal benefit | 5,615 | 5,303 | 4,680 | ||||||||||||||||||
Tax exempt interest income | (1,565 | ) | (1,102 | ) | Other | (2,096 | ) | (99 | ) | 822 | ||||||||||||
State income taxes, net of federal benefit | 1,295 | 1,735 | ||||||||||||||||||||
Other | (47 | ) | (934 | ) | Actual tax expense | $ | 54,347 | $ | 53,898 | $ | 44,158 | |||||||||||
Income tax expense | $ | 13,702 | $ | 14,939 | ||||||||||||||||||
Schedule of deferred tax assets and liabilities | Net deferred tax assets (liabilities) consist of the following components at December 31, 2014 and September 30, 2014 (in thousands): | Net deferred tax assets (liabilities) consist of the following components at September 30, 2014 and 2013 (in thousands): | ||||||||||||||||||||
December 31, 2014 | September 30, 2014 | 2014 | 2013 | |||||||||||||||||||
Deferred tax assets: | Deferred tax assets: | |||||||||||||||||||||
Allowance for loan losses | $ | 20,705 | $ | 19,683 | Allowance for loan losses | $ | 19,683 | $ | 22,686 | |||||||||||||
Compensation | 508 | 329 | Compensation | 329 | 320 | |||||||||||||||||
Net operating loss carryforward | 106 | 119 | Net operating loss carryforward | 119 | 170 | |||||||||||||||||
Securities available for sale | 1,849 | 3,758 | Securities available for sale | 3,758 | 4,144 | |||||||||||||||||
Other real estate owned | 14,780 | 13,721 | Other real estate owned | 13,721 | 7,072 | |||||||||||||||||
Core deposit intangible and other fair value adjustments | 10,900 | 10,573 | Core deposit intangible and other fair value adjustments | 10,573 | 6,617 | |||||||||||||||||
Excess tax basis of loans acquired over carrying value | 9,005 | 9,595 | Excess tax basis of loans acquired over carrying value | 9,595 | 10,879 | |||||||||||||||||
Other | 4,880 | 6,272 | Other | 6,272 | 5,668 | |||||||||||||||||
62,733 | 64,050 | 64,050 | 57,556 | |||||||||||||||||||
Deferred tax liabilities: | Deferred tax liabilities: | |||||||||||||||||||||
Goodwill and other intangibles | (10,072 | ) | (9,099 | ) | Goodwill and other intangibles | (9,099 | ) | (5,143 | ) | |||||||||||||
Premises and equipment | (3,957 | ) | (4,390 | ) | Securities available for sale | — | — | |||||||||||||||
Excess carrying value of FDIC indemnification asset and clawback liability | (2,480 | ) | (4,280 | ) | Premises and equipment | (4,390 | ) | (6,132 | ) | |||||||||||||
Other | (1,465 | ) | (1,578 | ) | Excess carrying value of FDIC indemnification asset and clawback liability | (4,280 | ) | (11,943 | ) | |||||||||||||
Other | (1,578 | ) | (1,712 | ) | ||||||||||||||||||
(17,974 | ) | (19,347 | ) | |||||||||||||||||||
(19,347 | ) | (24,930 | ) | |||||||||||||||||||
Net deferred tax assets (liabilities) | $ | 44,759 | $ | 44,703 | ||||||||||||||||||
Net deferred tax assets (liabilities) | $ | 44,703 | $ | 32,626 | ||||||||||||||||||
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Banking and Thrift [Abstract] | |||||||||||||||||||||||||
Capital Amounts and Ratios | Capital amounts and ratios are presented in the following table (in thousands): | ||||||||||||||||||||||||
Actual | For Capital Adequacy | To Be Well Capitalized Under | |||||||||||||||||||||||
Purposes | Prompt Corrective Action | ||||||||||||||||||||||||
Provisions | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||
Total risk based capital (to risk-weighted assets): | |||||||||||||||||||||||||
Consolidated | $ | 851,867 | 12.87 | % | $ | 529,521 | 8 | % | N/A | N/A | |||||||||||||||
Bank | 861,392 | 13.02 | % | 529,273 | 8 | % | $ | 661,591 | 10 | % | |||||||||||||||
Tier 1 risk based capital (to risk-weighted assets): | |||||||||||||||||||||||||
Consolidated | 782,872 | 11.83 | % | 264,707 | 4 | % | N/A | N/A | |||||||||||||||||
Bank | 813,874 | 12.3 | % | 264,674 | 4 | % | 397,012 | 6 | % | ||||||||||||||||
Tier 1 leverage capital (to average assets): | |||||||||||||||||||||||||
Consolidated | 782,872 | 9.1 | % | 344,120 | 4 | % | N/A | N/A | |||||||||||||||||
Bank | 813,874 | 9.46 | % | 344,133 | 4 | % | 430,166 | 5 | % | ||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||
Total risk based capital (to risk-weighted assets): | |||||||||||||||||||||||||
Consolidated | $ | 846,689 | 13.8 | % | $ | 490,865 | 8 | % | N/A | N/A | |||||||||||||||
Bank | 848,534 | 13.83 | % | 490,793 | 8 | % | $ | 613,492 | 10 | % | |||||||||||||||
Tier 1 risk based capital (to risk-weighted assets): | |||||||||||||||||||||||||
Consolidated | 762,189 | 12.42 | % | 245,433 | 4 | % | N/A | N/A | |||||||||||||||||
Bank | 792,670 | 12.92 | % | 245,397 | 4 | % | 368,095 | 6 | % | ||||||||||||||||
Tier 1 leverage capital (to average assets): | |||||||||||||||||||||||||
Consolidated | 762,189 | 9.2 | % | 331,374 | 4 | % | N/A | N/A | |||||||||||||||||
Bank | 792,670 | 9.45 | % | 335,348 | 4 | % | 419,185 | 5 | % |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||
Summary of commitments | A summary of the Company’s commitments as of September 30, 2014 and 2013, is as follows (in thousands): | ||||||||
2014 | 2013 | ||||||||
Commitments to extend credit | $ | 1,939,544 | $ | 1,713,869 | |||||
Letters of credit | 54,381 | 51,893 | |||||||
Future Minimum Rental Payments for Operating Leases | Approximate future minimum rental payments for operating leases in excess of one year in subsequent fiscal years are as follows (in thousands): | ||||||||
2015 | $ | 3,463 | |||||||
2016 | 2,884 | ||||||||
2017 | 2,394 | ||||||||
2018 | 1,848 | ||||||||
2019 | 974 | ||||||||
2020 and thereafter | 1,261 | ||||||||
$ | 12,824 | ||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments and Interest Rate Risk (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||
Schedule of fair value measurements of assets and liabilities | The following table presents the fair value measurements of assets and liabilities recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2014 and September 30, 2014 (in thousands): | The following table presents the fair value measurements of assets and liabilities recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30 (in thousands): | ||||||||||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||
As of December 31, 2014 | As of September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 272,578 | $ | 272,578 | $ | — | $ | — | U.S. Treasury securities | $ | 222,725 | $ | 222,725 | $ | — | $ | — | |||||||||||||||||||||||||
Mortgage-backed securities | 983,102 | — | 983,102 | — | Mortgage-backed securities | 1,103,415 | — | 1,103,415 | — | |||||||||||||||||||||||||||||||||
States and political subdivision securities | 2,118 | — | 160 | 1,958 | States and political subdivision securities | 2,189 | — | 160 | 2,029 | |||||||||||||||||||||||||||||||||
Corporate debt securities | 5,141 | — | 5,141 | — | Corporate debt securities | 11,873 | — | 11,873 | — | |||||||||||||||||||||||||||||||||
Other | 1,044 | — | 1,044 | — | Other | 1,040 | — | 1,040 | — | |||||||||||||||||||||||||||||||||
Securities available for sale | $ | 1,263,983 | $ | 272,578 | $ | 989,447 | $ | 1,958 | Securities available for sale | $ | 1,341,242 | $ | 222,725 | $ | 1,116,488 | $ | 2,029 | |||||||||||||||||||||||||
Derivatives-assets | $ | 14 | $ | — | $ | 14 | $ | — | Derivatives-assets | $ | 19 | $ | — | $ | 19 | $ | — | |||||||||||||||||||||||||
Derivatives-liabilities | 32,409 | — | 32,409 | — | Derivatives-liabilities | 13,092 | — | 13,092 | — | |||||||||||||||||||||||||||||||||
Fair value loans and written loan commitments | 1,023,281 | — | 1,023,281 | — | Fair value loans and written loan commitments | 985,411 | — | 985,411 | — | |||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 222,725 | $ | 222,725 | $ | — | $ | — | As of September 30, 2013 | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | 1,103,415 | — | 1,103,415 | — | U.S. Treasury securities | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||
States and political subdivision securities | 2,189 | — | 160 | 2,029 | Mortgage-backed securities | 1,459,444 | — | 1,459,444 | — | |||||||||||||||||||||||||||||||||
Corporate debt securities | 11,873 | — | 11,873 | — | States and political subdivision securities | 3,532 | — | 1,289 | 2,243 | |||||||||||||||||||||||||||||||||
Other | 1,040 | — | 1,040 | — | Corporate debt securities | 12,013 | — | 12,013 | — | |||||||||||||||||||||||||||||||||
Other | 5,460 | — | 5,460 | — | ||||||||||||||||||||||||||||||||||||||
Securities available for sale | $ | 1,341,242 | $ | 222,725 | $ | 1,116,488 | $ | 2,029 | ||||||||||||||||||||||||||||||||||
Securities available for sale | $ | 1,480,449 | $ | — | $ | 1,478,206 | $ | 2,243 | ||||||||||||||||||||||||||||||||||
Derivatives-assets | $ | 19 | $ | — | $ | 19 | $ | — | ||||||||||||||||||||||||||||||||||
Derivatives-liabilities | 13,092 | — | 13,092 | — | Derivatives-assets | $ | 375 | $ | — | $ | 375 | $ | — | |||||||||||||||||||||||||||||
Derivatives-liabilities | 1,526 | — | 1,526 | — | ||||||||||||||||||||||||||||||||||||||
Fair value loans and written loan commitments | 985,411 | — | 985,411 | — | Fair value loans and written loan commitments | 841,862 | — | 841,862 | — | |||||||||||||||||||||||||||||||||
Schedule of available-for-sale securities reconciliation | The following table presents the changes in Level 3 financial instruments for the three months ended December 31, 2014 and 2013 (in thousands): | The following table presents the changes in Level 3 financial instruments for the years ended September 30, 2014 and 2013 (in thousands): | ||||||||||||||||||||||||||||||||||||||||
Other Securities | Other Securities | |||||||||||||||||||||||||||||||||||||||||
Available for Sale | Available for Sale | |||||||||||||||||||||||||||||||||||||||||
Balance at September 30, 2014 | $ | 2,029 | Balance at September 30, 2012 | $ | 3,852 | |||||||||||||||||||||||||||||||||||||
Principal paydown | (71 | ) | Principal paydown | (1,609 | ) | |||||||||||||||||||||||||||||||||||||
Balance at December 31, 2014 | $ | 1,958 | Balance at September 30, 2013 | $ | 2,243 | |||||||||||||||||||||||||||||||||||||
Principal paydown | (214 | ) | ||||||||||||||||||||||||||||||||||||||||
Balance at September 30, 2013 | 2,243 | |||||||||||||||||||||||||||||||||||||||||
Principal paydown | — | Balance at September 30, 2014 | $ | 2,029 | ||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 2,243 | ||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements, Nonrecurring | The following tables present the fair value measurement of assets and liabilities measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2014 and September 30, 2014 (in thousands): | The following tables present the fair value measurement of assets and liabilities measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2014 and 2013 (in thousands): | ||||||||||||||||||||||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||
As of December 31, 2014 | As of September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Other real estate owned | $ | 7,164 | $ | — | $ | — | $ | 7,164 | Other real estate owned | $ | 36,879 | $ | — | $ | — | $ | 36,879 | |||||||||||||||||||||||||
Impaired loans | 152,312 | — | — | 152,312 | Impaired loans | 111,265 | — | — | 111,265 | |||||||||||||||||||||||||||||||||
Loans held for sale, at lower of cost or fair value | 9,387 | — | 9,387 | — | Loans held for sale, at lower of cost or fair value | 10,381 | — | 10,381 | — | |||||||||||||||||||||||||||||||||
As of September 30, 2014 | As of September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Other real estate owned | $ | 36,879 | $ | — | $ | — | $ | 36,879 | Other real estate owned | $ | 40,723 | $ | — | $ | — | $ | 40,723 | |||||||||||||||||||||||||
Impaired loans | 111,265 | — | — | 111,265 | Impaired loans | 154,512 | — | — | 154,512 | |||||||||||||||||||||||||||||||||
Loans held for sale, at lower of cost or fair value | 10,381 | — | 10,381 | — | Loans held for sale, at lower of cost or fair value | 8,271 | — | 8,271 | — | |||||||||||||||||||||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques | The valuation techniques and significant unobservable inputs used to measure Level 3 fair value measurements at December 31, 2014 were as follows (in thousands): | The valuation techniques and significant unobservable inputs used to measure Level 3 fair value measurements at September 30, 2014 were as follows: | ||||||||||||||||||||||||||||||||||||||||
Financial Instrument | Fair Value of | Valuation | Unobservable Input | Range | Weighted | Financial | Fair Value of | Valuation | Unobservable | Range | Weighted | |||||||||||||||||||||||||||||||
Assets / | Technique(s) | Average | Instrument | Assets / (Liabilities) | Technique(s) | Input | Average | |||||||||||||||||||||||||||||||||||
(Liabilities) at | at September 30, | |||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | 2014 | |||||||||||||||||||||||||||||||||||||||||
Other real estate owned | $ | 7,164 | Appraisal value | Property specific adjustment | N/A | N/A | Other real estate owned | $ | 36,879 | Appraisal value | Property specific adjustment | N/A | N/A | |||||||||||||||||||||||||||||
Impaired loans | $ | 152,312 | Appraisal value | Property specific adjustment | N/A | N/A | Impaired loans | $ | 111,265 | Appraisal value | Property specific adjustment | N/A | N/A | |||||||||||||||||||||||||||||
Fair value, by balance sheet grouping | are immaterial. Fair values for balance sheet instruments as of December 31, 2014 and September 30, 2014, are as follows (in thousands): | Fair values for balance sheet instruments as of September 30, 2014 and 2013, are as follows (in thousands): | ||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | September 30, 2014 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||
Level in Fair | Carrying | Fair Value | Carrying | Fair Value | Level in | Carrying | Fair Value | Carrying | Fair Value | |||||||||||||||||||||||||||||||||
Value | Amount | Amount | Fair Value | Amount | Amount | |||||||||||||||||||||||||||||||||||||
Hierarchy | Hierarchy | |||||||||||||||||||||||||||||||||||||||||
Assets | Assets | |||||||||||||||||||||||||||||||||||||||||
Cash and due from banks | Level 1 | $ | 428,186 | $ | 428,186 | $ | 256,639 | $ | 256,639 | Cash and due from banks | Level 1 | $ | 256,639 | $ | 256,639 | $ | 282,157 | $ | 282,157 | |||||||||||||||||||||||
Loans, net excluding fair valued loans and loans held for sale | Level 3 | 5,902,227 | 5,887,141 | 5,744,157 | 5,734,274 | Loans, net excluding fair valued loans and loans held for sale | Level 3 | 5,744,157 | 5,734,274 | 5,456,676 | 5,420,963 | |||||||||||||||||||||||||||||||
Accrued interest receivable | Level 2 | 38,201 | 38,201 | 42,609 | 42,609 | Accrued interest receivable | Level 2 | 42,609 | 42,609 | 41,065 | 41,065 | |||||||||||||||||||||||||||||||
Federal Home Loan Bank stock | Level 2 | 35,869 | 35,869 | 35,922 | 35,922 | Federal Home Loan Bank stock | Level 2 | 35,922 | 35,922 | 28,765 | 28,765 | |||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||||||
Deposits | Level 3 | $ | 7,239,206 | $ | 7,241,999 | $ | 7,052,180 | $ | 7,057,591 | Liabilities | ||||||||||||||||||||||||||||||||
FHLB advances, related party notes payable, and other borrowings | Level 2 | 616,380 | 607,884 | 616,389 | 604,615 | Deposits | Level 3 | $ | 7,052,180 | $ | 7,057,591 | $ | 6,948,208 | $ | 6,959,936 | |||||||||||||||||||||||||||
Securities sold under repurchase agreements | Level 2 | 190,585 | 190,585 | 161,687 | 161,687 | FHLB advances, related party notes payable, and other borrowings | Level 2 | 616,389 | 604,615 | 431,902 | 421,593 | |||||||||||||||||||||||||||||||
Accrued interest payable | Level 2 | 4,812 | 4,812 | 5,273 | 5,273 | Securities sold under repurchase agreements | Level 2 | 161,687 | 161,687 | 217,562 | 217,562 | |||||||||||||||||||||||||||||||
Subordinated debentures | Level 2 | 56,083 | 56,083 | 56,083 | 56,084 | Accrued interest payable | Level 2 | 5,273 | 5,273 | 6,790 | 6,790 | |||||||||||||||||||||||||||||||
Subordinated debentures | Level 2 | 56,083 | 56,084 | 56,083 | 56,084 |
Earnings_per_Share_Tables
Earnings per Share (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||||||||||
Schedule of earnings per share, basic and diluted | The following information was used in the computation of basic earnings per share (EPS) for the three months ended December 31, 2014 and 2013 (in thousands except share data). | The following information was used in the computation of basic earnings per share (EPS) for the years ended September 30, 2014 and 2013 (in thousands except share data). | ||||||||||||||||||||
Three Months Ended | 2014 | 2013 | 2012 | |||||||||||||||||||
December 31, | Basic earnings per share computation: | |||||||||||||||||||||
2014 | 2013 | Net income | $ | 104,952 | $ | 96,243 | $ | 72,995 | ||||||||||||||
Net income | $ | 26,697 | $ | 28,604 | Weighted average common shares outstanding | 57,886,114 | 57,886,114 | 57,886,114 | ||||||||||||||
Weighted average common shares outstanding | 57,895,783 | 57,886,114 | ||||||||||||||||||||
Dilutive effect of stock based compensation | — | — | Basic EPS | $ | 1.81 | $ | 1.66 | $ | 1.26 | |||||||||||||
Weighted average common shares outstanding for diluted earnings per share calculation | $ | 57,895,783 | $ | 57,886,114 | ||||||||||||||||||
Basic earnings per share | $ | 0.46 | $ | 0.49 | ||||||||||||||||||
Diluted earnings per share | $ | 0.46 | $ | 0.49 | ||||||||||||||||||
Parent_Company_Only_Financial_1
Parent Company Only Financial Statements (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||
Condensed Balance Sheets | Condensed Balance Sheets | ||||||||||||
(In thousands) | |||||||||||||
September 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Assets | |||||||||||||
Cash and due from banks | $ | 5,753 | $ | 6,710 | |||||||||
Investment in subsidiaries | 1,508,175 | 1,503,778 | |||||||||||
Investment in affiliates | 1,683 | 1,683 | |||||||||||
Accrued interest receivable | 2 | 2 | |||||||||||
Net deferred tax assets | 416 | 413 | |||||||||||
Other assets | 7,469 | 14,521 | |||||||||||
Total assets | $ | 1,523,498 | $ | 1,527,107 | |||||||||
Liabilities and stockholder’s equity | |||||||||||||
Related party notes payable | $ | 41,295 | $ | 41,295 | |||||||||
Subordinated debentures | 56,083 | 56,083 | |||||||||||
Accrued interest payable | 115 | 113 | |||||||||||
Income taxes payable | 4,915 | 12,390 | |||||||||||
Accrued expenses and other liabilities | — | 12 | |||||||||||
Total liabilities | 102,408 | 109,893 | |||||||||||
Stockholder’s equity | |||||||||||||
Common stock | 579 | 579 | |||||||||||
Additional paid-in capital | 1,260,124 | 1,260,124 | |||||||||||
Retained earnings | 166,544 | 163,592 | |||||||||||
Accumulated other comprehensive income (loss) | (6,157 | ) | (7,081 | ) | |||||||||
Total stockholder’s equity | 1,421,090 | 1,417,214 | |||||||||||
Total liabilities and stockholder’s equity | $ | 1,523,498 | $ | 1,527,107 | |||||||||
Condensed Statements of Comprehensive Income | Condensed Statements of Comprehensive Income | ||||||||||||
(In thousands) | |||||||||||||
Years Ended September 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income | |||||||||||||
Dividends from subsidiary bank | $ | 105,000 | $ | 49,900 | $ | 45,800 | |||||||
Dividends on securities | 257 | 112 | 264 | ||||||||||
Other | 40 | 40 | 66 | ||||||||||
Total income | 105,297 | 50,052 | 46,130 | ||||||||||
Expenses | |||||||||||||
Interest on related party notes payable | 921 | 950 | 1,007 | ||||||||||
Interest on subordinated debentures | 1,315 | 1,347 | 1,436 | ||||||||||
Salaries and employee benefits | 661 | 906 | 1,655 | ||||||||||
Professional fees | 1,080 | 135 | 120 | ||||||||||
Other | 1,834 | 2,388 | 1,770 | ||||||||||
Total expense | 5,811 | 5,726 | 5,988 | ||||||||||
Income before income tax and equity in undistributed net income of subsidiaries | 99,486 | 44,326 | 40,142 | ||||||||||
Benefit for income taxes | 1,993 | 1,955 | 2,057 | ||||||||||
Income before equity in undistributed net income of subsidiaries | 101,479 | 46,281 | 42,199 | ||||||||||
Equity in undistributed net income of subsidiaries | 3,473 | 49,962 | 30,796 | ||||||||||
Net income | $ | 104,952 | $ | 96,243 | $ | 72,995 | |||||||
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows | ||||||||||||
(In thousands) | |||||||||||||
Year Ended September 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Operating Activities | |||||||||||||
Net income | $ | 104,952 | $ | 96,243 | $ | 72,995 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||
Depreciation and amortization | — | — | 1 | ||||||||||
Deferred income taxes | (7,478 | ) | 750 | (1,817 | ) | ||||||||
Changes in: | |||||||||||||
Other assets | 7,052 | (875 | ) | 9,213 | |||||||||
Accrued interest and other liabilities | (10 | ) | (558 | ) | 369 | ||||||||
Equity in undistributed net income of subsidiaries | (3,473 | ) | (49,962 | ) | (30,796 | ) | |||||||
Net cash provided by operating activities | 101,043 | 45,598 | 49,965 | ||||||||||
Financing Activities | |||||||||||||
Net change in note payable to NAB | — | — | (7,000 | ) | |||||||||
Dividends paid | (102,000 | ) | (41,400 | ) | (41,800 | ) | |||||||
Net cash used in financing activities | (102,000 | ) | (41,400 | ) | (48,800 | ) | |||||||
Change in cash and due from banks | (957 | ) | 4,198 | 1,165 | |||||||||
Cash and due from banks, beginning of year | 6,710 | 2,512 | 1,347 | ||||||||||
Cash and due from banks, end of year | $ | 5,753 | $ | 6,710 | $ | 2,512 | |||||||
Selected_Quarterly_Financial_D1
Selected Quarterly Financial Data (unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Summary of Quarterly Results | The following is a summary of quarterly results (in thousands except per share data): | ||||||||||||||||
Fiscal Year 2014 | |||||||||||||||||
Fourth | Third Quarter | Second Quarter | First Quarter | ||||||||||||||
Quarter | |||||||||||||||||
Interest and dividend income | $ | 90,941 | $ | 87,878 | $ | 84,886 | $ | 88,771 | |||||||||
Interest expense | 7,715 | 7,778 | 7,929 | 8,630 | |||||||||||||
Net interest income | 83,226 | 80,100 | 76,957 | 80,141 | |||||||||||||
Provision for loan losses | 2,749 | 1,500 | (2,690 | ) | (875 | ) | |||||||||||
Noninterest income | 8,501 | 10,314 | 10,140 | 10,826 | |||||||||||||
Noninterest expense | 48,318 | 54,278 | 49,327 | 48,299 | |||||||||||||
Net income | $ | 27,875 | $ | 22,502 | $ | 25,971 | $ | 28,604 | |||||||||
Earnings per share | $ | 0.48 | $ | 0.39 | $ | 0.45 | $ | 0.49 | |||||||||
Fiscal Year 2013 | |||||||||||||||||
Fourth | Third Quarter | Second Quarter | First Quarter | ||||||||||||||
Quarter | |||||||||||||||||
Interest and dividend income | $ | 87,092 | $ | 88,156 | $ | 85,581 | $ | 88,805 | |||||||||
Interest expense | 8,812 | 9,206 | 9,942 | 11,201 | |||||||||||||
Net interest income | 78,280 | 78,950 | 75,639 | 77,604 | |||||||||||||
Provision for loan losses | (2,460 | ) | 3,500 | 534 | 10,000 | ||||||||||||
Noninterest income | 12,802 | 12,934 | 15,933 | 18,163 | |||||||||||||
Noninterest expense | 53,003 | 50,277 | 53,780 | 51,530 | |||||||||||||
Net income | $ | 26,323 | $ | 24,318 | $ | 23,918 | $ | 21,684 | |||||||||
Earnings per share | $ | 0.46 | $ | 0.42 | $ | 0.41 | $ | 0.37 |
Changes_in_the_Presentation_of1
Changes in the Presentation of Results for Loans at Fair Value and Related Derivatives (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||
Accounting Changes and Error Corrections [Abstract] | ||||||||||||||||||||||||||||||||||
Schedule of Error Corrections and Prior Period Adjustments | was no effect on net income, equity or cash flows. The following table reflects the impact of the matter described above on previously filed financial statements: | The following table reflects the impact of the matter described above on previously filed financial statements: | ||||||||||||||||||||||||||||||||
Previously Reported | Currently Reported | Previously Reported | Currently Reported | |||||||||||||||||||||||||||||||
Interest Income | Noninterest Income | Interest Income | Noninterest Income | |||||||||||||||||||||||||||||||
Twelve months ended September 30, 2014 | Twelve months ended September 30, 2014 | |||||||||||||||||||||||||||||||||
Realized gain (loss) on derivatives | $ | (18,255 | ) | $ | (18,255 | ) | Realized gain (loss) on derivatives | $ | (18,255 | ) | $ | (18,255 | ) | |||||||||||||||||||||
Twelve months ended September 30, 2013 | Twelve months ended September 30, 2013 | |||||||||||||||||||||||||||||||||
Realized gain (loss) on derivatives | $ | (14,217 | ) | $ | (14,217 | ) | Realized gain (loss) on derivatives | $ | (14,217 | ) | $ | (14,217 | ) | |||||||||||||||||||||
Twelve months ended September 30, 2012 | Twelve months ended September 30, 2012 | |||||||||||||||||||||||||||||||||
Realized gain (loss) on derivatives | $ | (9,931 | ) | $ | (9,931 | ) | Realized gain (loss) on derivatives | $ | (9,931 | ) | $ | (9,931 | ) | |||||||||||||||||||||
The following table reflects the impact of the matter described above on previously filed financial statements: | The following table reflects the impact of the matter described above on previously filed financial statements: | |||||||||||||||||||||||||||||||||
Previously Reported | Currently Reported | Previously Reported | Currently Reported | |||||||||||||||||||||||||||||||
Interest | Noninterest | Noninterest Income | Interest | Noninterest | Noninterest Income | |||||||||||||||||||||||||||||
Income | Expense | Income | Expense | |||||||||||||||||||||||||||||||
Twelve months ended September 30, 2014 | Twelve months ended September 30, 2014 | |||||||||||||||||||||||||||||||||
Unrealized gain (loss) on derivatives | $ | — | $ | 11,922 | $ | — | $ | 11,922 | Unrealized gain (loss) on derivatives | $ | — | $ | 11,922 | $ | — | $ | 11,922 | |||||||||||||||||
Loan fair value change related to interest rates | (11,922 | ) | — | (11,922 | ) | — | Loan fair value change related to interest rates | (11,922 | ) | — | (11,922 | ) | — | |||||||||||||||||||||
Loan fair value change related to credit quality | 18 | — | 18 | — | Loan fair value change related to credit quality | 18 | — | 18 | — | |||||||||||||||||||||||||
$ | (11,904 | ) | $ | 11,922 | $ | (11,904 | ) | $ | 11,922 | $ | (11,904 | ) | $ | 11,922 | $ | (11,904 | ) | $ | 11,922 | |||||||||||||||
Twelve months ended September 30, 2013 | ||||||||||||||||||||||||||||||||||
Unrealized gain (loss) on derivatives | $ | — | $ | (40,305 | ) | $ | — | $ | (40,305 | ) | ||||||||||||||||||||||||
Loan fair value change related to interest rates | 40,305 | — | 40,305 | — | ||||||||||||||||||||||||||||||
Loan fair value change related to credit quality | 855 | — | 855 | — | ||||||||||||||||||||||||||||||
$ | 41,160 | $ | (40,305 | ) | $ | 41,160 | $ | (40,305 | ) | |||||||||||||||||||||||||
Twelve months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||
Unrealized gain (loss) on derivatives | $ | — | $ | 19,369 | $ | — | $ | 19,369 | ||||||||||||||||||||||||||
Loan fair value change related to interest rates | (19,369 | ) | — | (19,369 | ) | — | ||||||||||||||||||||||||||||
Loan fair value change related to credit quality | 4,276 | — | 4,276 | — | ||||||||||||||||||||||||||||||
$ | (15,093 | ) | $ | 19,369 | $ | (15,093 | ) | $ | 19,369 | |||||||||||||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 3 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||
Schedule of share-based compensation, restricted stock units award activity | The following is a summary of the Plans’ restricted share and performance-based stock award activity as of December 31, 2014: | ||||||||
Common Shares | Weighted-Average | ||||||||
Measurement Date | |||||||||
Fair Value | |||||||||
Restricted Shares | |||||||||
Restricted stock, beginning of fiscal year | — | $ | — | ||||||
Granted | 78,063 | 18 | |||||||
Vested | (12,221 | ) | 18 | ||||||
Forfeited | — | — | |||||||
Canceled | — | — | |||||||
Restricted stock, end of period | 65,842 | $ | 18 | ||||||
Nature_of_Operation_and_Summar
Nature of Operation and Summary of Significant Accounting Policies - (Narrative) (Detail) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | |||||
Oct. 17, 2014 | Jul. 09, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Oct. 10, 2014 | Oct. 20, 2014 | Dec. 31, 2014 | |
Segment | ||||||||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||||
Number of reportable segment | 1 | |||||||
Equity contribution, prior to the formation transactions | $100 | |||||||
Common stock conversion ratio | 578,861.14 | |||||||
Common stock, shares outstanding | 57,886,114 | 57,886,114 | 57,886,114 | 57,886,114 | ||||
Common stock, shares issued | 57,886,114 | 57,886,114 | 57,886,114 | 57,886,114 | ||||
Common stock stock split, description | 578,861.14-for-1 | |||||||
Long-lived assets impairments | 0 | 0 | 0 | |||||
Goodwill impairment | 0 | 0 | 0 | |||||
Intangible asset impairment | 0 | 0 | 0 | |||||
Minimum | ||||||||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||||
Maturity period of fixed rate loans | 5 years | |||||||
Maximum | ||||||||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||||
Maturity period of fixed rate loans | 15 years | |||||||
Building and Building Improvements | Minimum | ||||||||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||||
Premises and equipment, estimated useful life | 10 years | |||||||
Building and Building Improvements | Maximum | ||||||||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||||
Premises and equipment, estimated useful life | 40 years | |||||||
Furniture and Fixtures | Minimum | ||||||||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||||
Premises and equipment, estimated useful life | 3 years | |||||||
Furniture and Fixtures | Maximum | ||||||||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||||
Premises and equipment, estimated useful life | 10 years | |||||||
Employee [Member] | Performance shares | ||||||||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||||
Shares granted | 216,724 | |||||||
Employee [Member] | Restricted stock | ||||||||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||||
Shares granted | 65,834 | |||||||
Non Employee Director | Performance shares | ||||||||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||||
Shares granted | 6,666 | |||||||
Non Employee Director | Restricted stock | ||||||||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||||
Shares granted | 12,221 | |||||||
Initial Public Offering | NAB | ||||||||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||||
Common stock, shares outstanding | 39,486,114 | |||||||
Share issued | 18,400,000 | |||||||
Proceeds from sale of stock | $312,160,000 |
Summary_of_Methods_and_Lives_u
Summary of Methods and Lives used to Amortize Intangible Assets (Detail) | 12 Months Ended |
Sep. 30, 2014 | |
Core Deposit Intangible | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible assets, amortization method | Straight-line or effective yield |
Core Deposit Intangible | Minimum | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible assets, estimated lives | 4 years 9 months |
Core Deposit Intangible | Maximum | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible assets, estimated lives | 6 years 2 months 12 days |
Brand Intangible | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible assets, amortization method | Straight-line |
Finite lived intangible assets, estimated lives | 15 years |
Customer Relationships | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible assets, amortization method | Straight-line |
Finite lived intangible assets, estimated lives | 8 years 6 months |
Other Intangible Assets | |
Finite-Lived Intangible Assets [Line Items] | |
Finite lived intangible assets, amortization method | Straight-line |
Finite lived intangible assets, estimated lives | 5 years |
Restrictions_on_Cash_and_Due_f1
Restrictions on Cash and Due from Banks (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | |||
Cash and Cash Equivalents [Abstract] | |||
Reserve balances | $41.90 | $50.36 | $52.66 |
Securities_Amortized_Cost_and_
Securities - Amortized Cost and Fair Value (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized | $1,268,874 | $1,351,157 | $1,491,674 |
Gross Unrealized Gains | 4,518 | 4,846 | 9,803 |
Gross Unrealized Losses | -9,409 | -14,761 | -21,028 |
Fair Value | 1,263,983 | 1,341,242 | 1,480,449 |
U.S. Treasury securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized | 271,551 | 222,868 | 0 |
Gross Unrealized Gains | 1,027 | 31 | 0 |
Gross Unrealized Losses | 0 | -174 | 0 |
Fair Value | 272,578 | 222,725 | 0 |
US government agencies debt securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized | 989,204 | 1,113,363 | 1,470,822 |
Gross Unrealized Gains | 3,307 | 4,639 | 9,634 |
Gross Unrealized Losses | -9,409 | -14,587 | -21,013 |
Fair Value | 983,102 | 1,103,415 | 1,459,443 |
States and political subdivision securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized | 2,117 | 2,188 | 3,513 |
Gross Unrealized Gains | 1 | 1 | 19 |
Gross Unrealized Losses | 0 | 0 | 0 |
Fair Value | 2,118 | 2,189 | 3,532 |
Corporate debt securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized | 4,996 | 11,732 | 11,889 |
Gross Unrealized Gains | 145 | 141 | 133 |
Gross Unrealized Losses | 0 | 0 | -9 |
Fair Value | 5,141 | 11,873 | 12,013 |
Other | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized | 1,006 | 1,006 | 5,449 |
Gross Unrealized Gains | 38 | 34 | 17 |
Gross Unrealized Losses | 0 | 0 | -6 |
Fair Value | 1,044 | 1,040 | 5,460 |
Federal National Mortgage Association Certificates and Obligations (FNMA) | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized | 0 | 1 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | $0 | $1 |
Securities_Schedule_of_Availab
Securities - Schedule of Available For Sale Securities (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale securities, debt maturities, next rolling twelve months, amortized cost basis | $470 | $7,207 | $1,497 |
Available-for-sale securities, debt maturities, rolling year two through five, amortized cost basis | 247,796 | 223,282 | 6,988 |
Available-for-sale securities, debt maturities, rolling year six through ten, amortized cost basis | 30,398 | 6,299 | 6,917 |
Available-for-sale securities, debt maturities, rolling after year ten, amortized cost basis | 0 | 0 | |
Available-for-sale debt securities, amortized cost basis | 278,664 | 236,788 | 15,402 |
Available-for-sale securities, debt maturities, without single maturity date, amortized cost basis | 1,006 | 1,006 | 5,449 |
Amortized Cost | 1,268,874 | 1,351,157 | 1,491,674 |
Available-for-sale securities, debt maturities, next rolling twelve months, fair value | 470 | 7,218 | 1,514 |
Available-for-sale securities, debt maturities, year two through five, fair value | 248,733 | 223,140 | 7,123 |
Available-for-sale securities, debt maturities, rolling year six through ten, fair value | 30,634 | 6,429 | 6,908 |
Available-for-sale securities, debt maturities, rolling after year ten, fair value | 0 | 0 | |
Available-for-sale securities, debt securities | 279,837 | 236,787 | 15,545 |
Available-for-sale securities, debt maturities, without single maturity date, fair value | 1,044 | 1,040 | 5,460 |
Fair Value | 1,263,983 | 1,341,242 | 1,480,449 |
US government agencies debt securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale debt securities, amortized cost basis | 989,204 | 1,113,363 | 1,470,823 |
Available-for-sale securities, debt securities | 983,102 | 1,103,415 | 1,459,444 |
Fair Value | $983,102 | $1,103,415 | $1,459,443 |
Securities_Narrative_Detail
Securities - (Narrative) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Investments, Debt and Equity Securities [Abstract] | |||||
Proceeds from sale of available-for-sale securities | $55.10 | $0.20 | $47.31 | $72.44 | $542.80 |
Available-for-sale securities, gross realized gains | 0.6 | 0 | 0.95 | 1.7 | 7.67 |
Available-for-sale securities, gross realized losses | 0.5 | 0 | 0.86 | 0.78 | 0.36 |
Securities pledged as collateral | 1,161.70 | 1,132.30 | 1,090.37 | ||
Percentage of investment portfolio in continuous loss position | 52.00% | 64.00% | 62.00% | ||
Federal home loan bank stock | $35.90 | $35.92 | $28.77 |
Securities_Schedule_of_Gross_U
Securities - Schedule of Gross Unrealized Losses (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, unrealized losses, less than twelve months, fair value | $68 | $122,969 | $856,780 |
Available-for-sale Securities, unrealized losses, less than twelve months, accumulated loss | 0 | -299 | -19,478 |
Available-for-sale Securities, unrealized losses, twelve months or longer, fair value | 656,512 | 730,171 | 61,767 |
Available-for-sale Securities, unrealized losses, 12 months or longer, accumulated loss | -9,409 | -14,462 | -1,550 |
Available-for-sale Securities, unrealized losses, fair value | 656,580 | 853,140 | 918,547 |
Available-for-sale Securities, unrealized losses, accumulated loss | -9,409 | -14,761 | -21,028 |
U.S. Treasury securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, unrealized losses, less than twelve months, fair value | 0 | 98,344 | |
Available-for-sale Securities, unrealized losses, less than twelve months, accumulated loss | 0 | -174 | |
Available-for-sale Securities, unrealized losses, twelve months or longer, fair value | 0 | 0 | |
Available-for-sale Securities, unrealized losses, 12 months or longer, accumulated loss | 0 | 0 | |
Available-for-sale Securities, unrealized losses, fair value | 0 | 98,344 | |
Available-for-sale Securities, unrealized losses, accumulated loss | 0 | -174 | |
Mortgage-backed securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, unrealized losses, less than twelve months, fair value | 68 | 24,625 | 852,344 |
Available-for-sale Securities, unrealized losses, less than twelve months, accumulated loss | 0 | -125 | -19,469 |
Available-for-sale Securities, unrealized losses, twelve months or longer, fair value | 656,512 | 730,171 | 56,781 |
Available-for-sale Securities, unrealized losses, 12 months or longer, accumulated loss | -9,409 | -14,462 | -1,544 |
Available-for-sale Securities, unrealized losses, fair value | 656,580 | 754,796 | 909,125 |
Available-for-sale Securities, unrealized losses, accumulated loss | -9,409 | -14,587 | -21,013 |
Corporate debt securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, unrealized losses, less than twelve months, fair value | 0 | 0 | 4,436 |
Available-for-sale Securities, unrealized losses, less than twelve months, accumulated loss | 0 | 0 | -9 |
Available-for-sale Securities, unrealized losses, twelve months or longer, fair value | 0 | 0 | 0 |
Available-for-sale Securities, unrealized losses, 12 months or longer, accumulated loss | 0 | 0 | 0 |
Available-for-sale Securities, unrealized losses, fair value | 0 | 0 | 4,436 |
Available-for-sale Securities, unrealized losses, accumulated loss | 0 | 0 | -9 |
Other | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, unrealized losses, less than twelve months, fair value | 0 | 0 | 0 |
Available-for-sale Securities, unrealized losses, less than twelve months, accumulated loss | 0 | 0 | 0 |
Available-for-sale Securities, unrealized losses, twelve months or longer, fair value | 0 | 0 | 4,986 |
Available-for-sale Securities, unrealized losses, 12 months or longer, accumulated loss | 0 | 0 | -6 |
Available-for-sale Securities, unrealized losses, fair value | 0 | 0 | 4,986 |
Available-for-sale Securities, unrealized losses, accumulated loss | $0 | $0 | ($6) |
Securities_Unrealized_Gain_Los
Securities - Unrealized Gain Loss On Investments (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Investments, Debt and Equity Securities [Abstract] | |||||
Beginning balance accumulated other comprehensive income | ($6,157) | ($7,081) | ($7,081) | $19,111 | $16,542 |
Net unrealized holding gain (loss) arising during the period | 4,973 | -10,409 | 1,400 | -40,651 | 11,376 |
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward] | |||||
Reclassification adjustment for net gain realized in net income | 51 | 0 | -90 | -917 | -7,305 |
Net change in unrealized gain (loss) before income taxes | 5,024 | -10,409 | 1,310 | -41,568 | 4,071 |
Income tax (expense) benefit | -1,909 | 3,955 | -386 | 15,376 | -1,502 |
Net change in unrealized (loss) gain on securities after taxes | 3,115 | -6,454 | 924 | -26,192 | 2,569 |
Ending balance accumulated other comprehensive income (loss) | ($3,042) | ($13,535) | ($6,157) | ($7,081) | $19,111 |
Loans_Schedule_of_Accounts_Not
Loans - Schedule of Accounts, Notes, Loans and Financing Receivable (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total financing receivables, gross | $7,016,895 | $6,819,977 | $6,413,635 | ||
Allowance for loan losses | -51,820 | -47,518 | -56,069 | -55,864 | -71,878 |
Unamortized discount on acquired loans | -23,321 | -25,638 | -34,717 | ||
Unearned net deferred fees and costs and loans in process | -6,809 | -6,872 | -16,245 | ||
Total financing receivables, net | 6,934,945 | 6,739,949 | 6,306,809 | ||
Residential real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total financing receivables, gross | 910,406 | 901,605 | 906,469 | ||
Allowance for loan losses | -7,567 | -8,342 | -11,854 | -11,779 | -14,761 |
Commercial real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total financing receivables, gross | 2,645,721 | 2,541,194 | 2,311,974 | ||
Allowance for loan losses | -17,722 | -16,884 | -22,292 | -22,562 | -30,234 |
Commercial non real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total financing receivables, gross | 1,551,607 | 1,571,640 | 1,481,756 | ||
Allowance for loan losses | -14,625 | -10,550 | -11,552 | -11,222 | -18,979 |
Agriculture | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total financing receivables, gross | 1,788,028 | 1,681,209 | 1,587,248 | ||
Allowance for loan losses | -10,920 | -10,655 | -9,256 | -9,296 | -6,906 |
Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total financing receivables, gross | 85,822 | 90,086 | 101,477 | ||
Allowance for loan losses | -201 | -264 | -390 | -312 | -542 |
Other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total financing receivables, gross | 35,311 | 34,243 | 24,711 | ||
Allowance for loan losses | ($785) | ($823) | ($725) | ($693) | ($456) |
Loans_Narrative_Detail
Loans - Narrative (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans covered by FDIC loss share agreements | $195,545,000 | $234,036,000 | $347,408,000 | |
Loan held for sale | 9,387,000 | 10,381,000 | 8,271,000 | |
Loans and written loan commitments at fair value under the fair value option | 1,023,281,000 | 985,411,000 | 841,862,000 | |
Unamortized discount on acquired loans | 6,819,000 | 6,268,000 | 5,190,000 | |
Loans in process | 0 | 600,000 | 11,050,000 | |
Ending balance | 5,858,967,000 | 5,857,573,000 | 5,692,071,000 | 5,424,748,000 |
Principal balances of residential real estate loans sold | 64,300,000 | 54,200,000 | 214,250,000 | 450,010,000 |
Interest income recognized on impaired loans | 3,100,000 | 1,200,000 | 5,870,000 | 7,870,000 |
Valuation adjustments made to repossessed properties | 2,100,000 | 500,000 | 9,690,000 | 4,030,000 |
Specific reserves included in the allowance for loan losses for TDRs | 2,100,000 | 3,180,000 | 6,430,000 | |
Loans Receivable | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and written loan commitments at fair value under the fair value option | 1,023,281,000 | 985,411,000 | 985,411,000 | 841,860,000 |
Loans Guaranteed by US Government Authorities | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Ending balance | $101,900,000 | $106,460,000 | $104,040,000 |
Loans_Past_Due_Loans_Detail
Loans - Past Due Loans (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual loans, excluding covered loans | $38,983 | $43,945 | $81,501 |
Financing receivables, net of unamortized discount on acquired loans | 5,774,748 | 5,574,881 | 5,189,650 |
Loans covered by FDIC loss sharing agreements | 195,545 | 234,036 | 347,408 |
Total | 5,970,293 | 5,808,917 | 5,537,058 |
Residential real estate | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual loans, excluding covered loans | 7,269 | 6,671 | 8,746 |
Financing receivables, net of unamortized discount on acquired loans | 781,034 | 764,754 | 727,855 |
Loans covered by FDIC loss sharing agreements | 119,894 | 127,115 | 167,835 |
Total | 900,928 | 891,869 | 895,690 |
Commercial real estate | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual loans, excluding covered loans | 10,638 | 20,767 | 57,652 |
Financing receivables, net of unamortized discount on acquired loans | 2,266,943 | 2,003,838 | 1,808,112 |
Loans covered by FDIC loss sharing agreements | 66,264 | 95,467 | 150,745 |
Total | 2,333,207 | 2,099,305 | 1,958,857 |
Commercial non real estate | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual loans, excluding covered loans | 10,630 | 4,908 | 6,641 |
Financing receivables, net of unamortized discount on acquired loans | 1,132,509 | 1,312,658 | 1,224,092 |
Loans covered by FDIC loss sharing agreements | 7,460 | 9,390 | 28,163 |
Total | 1,139,969 | 1,322,048 | 1,252,255 |
Agriculture | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual loans, excluding covered loans | 10,342 | 11,453 | 8,236 |
Financing receivables, net of unamortized discount on acquired loans | 1,473,283 | 1,369,549 | 1,304,217 |
Loans covered by FDIC loss sharing agreements | 1,874 | 2,004 | 525 |
Total | 1,475,157 | 1,371,553 | 1,304,742 |
Consumer | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual loans, excluding covered loans | 104 | 146 | 226 |
Financing receivables, net of unamortized discount on acquired loans | 85,668 | 89,839 | 100,663 |
Loans covered by FDIC loss sharing agreements | 53 | 60 | 140 |
Total | 85,721 | 89,899 | 100,803 |
Other | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 35,311 | 34,243 | 24,711 |
Loans covered by FDIC loss sharing agreements | 0 | 0 | |
Total | 35,311 | 34,243 | 24,711 |
Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 37,516 | 32,753 | 28,569 |
Loans covered by FDIC loss sharing agreements | 9,954 | 6,940 | 11,800 |
Total | 47,470 | 39,693 | 40,369 |
Past Due | 30-59 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 11,339 | 13,746 | 2,840 |
Loans covered by FDIC loss sharing agreements | 4,760 | 1,960 | 1,307 |
Total | 16,099 | 15,706 | 4,147 |
Past Due | 60-89 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 6,429 | 8,044 | 5,416 |
Loans covered by FDIC loss sharing agreements | 1,879 | 1,252 | 3,861 |
Total | 8,308 | 9,296 | 9,277 |
Past Due | Greater Than 90 Days | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 19,748 | 10,963 | 20,313 |
Loans covered by FDIC loss sharing agreements | 3,315 | 3,728 | 6,632 |
Total | 23,063 | 14,691 | 26,945 |
Past Due | Residential real estate | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 7,563 | 3,867 | 6,522 |
Past Due | Residential real estate | 30-59 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 3,652 | 675 | 625 |
Past Due | Residential real estate | 60-89 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 543 | 611 | 955 |
Past Due | Residential real estate | Greater Than 90 Days | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 3,368 | 2,581 | 4,942 |
Past Due | Commercial real estate | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 10,128 | 15,253 | 10,228 |
Past Due | Commercial real estate | 30-59 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 1,860 | 11,050 | 431 |
Past Due | Commercial real estate | 60-89 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 3,632 | 819 | 158 |
Past Due | Commercial real estate | Greater Than 90 Days | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 4,636 | 3,384 | 9,639 |
Past Due | Commercial non real estate | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 11,775 | 8,733 | 4,361 |
Past Due | Commercial non real estate | 30-59 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 1,586 | 1,761 | 1,342 |
Past Due | Commercial non real estate | 60-89 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 2,146 | 6,228 | 198 |
Past Due | Commercial non real estate | Greater Than 90 Days | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 8,043 | 744 | 2,821 |
Past Due | Agriculture | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 7,709 | 4,589 | 7,009 |
Past Due | Agriculture | 30-59 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 4,036 | 16 | 102 |
Past Due | Agriculture | 60-89 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 0 | 368 | 4,040 |
Past Due | Agriculture | Greater Than 90 Days | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 3,673 | 4,205 | 2,867 |
Past Due | Consumer | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 341 | 311 | 449 |
Past Due | Consumer | 30-59 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 205 | 244 | 340 |
Past Due | Consumer | 60-89 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 108 | 18 | 65 |
Past Due | Consumer | Greater Than 90 Days | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 28 | 49 | 44 |
Past Due | Other | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 0 | 0 | |
Past Due | Other | 30-59 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 0 | 0 | |
Past Due | Other | 60-89 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 0 | 0 | |
Past Due | Other | Greater Than 90 Days | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 0 | 0 | |
Current | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 5,737,232 | 5,542,128 | 5,161,081 |
Loans covered by FDIC loss sharing agreements | 185,591 | 227,096 | 335,608 |
Total | 5,922,823 | 5,769,224 | 5,496,689 |
Current | Residential real estate | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 773,471 | 760,887 | 721,333 |
Current | Commercial real estate | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 2,256,815 | 1,988,585 | 1,797,884 |
Current | Commercial non real estate | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 1,120,734 | 1,303,925 | 1,219,731 |
Current | Agriculture | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 1,465,574 | 1,364,960 | 1,297,208 |
Current | Consumer | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | 85,327 | 89,528 | 100,214 |
Current | Other | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing receivables, net of unamortized discount on acquired loans | $35,311 | $34,243 | $24,711 |
Loans_Composition_of_the_Loan_
Loans - Composition of the Loan Portfolio by Internal Risk Rating (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | $5,774,748 | $5,574,881 | $5,189,650 |
Loans covered by FDIC loss sharing agreements | 195,545 | 234,036 | 347,408 |
Total | 5,970,293 | 5,808,917 | 5,537,058 |
Pass | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 5,351,035 | 5,159,494 | 4,821,839 |
Watchlist | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 275,473 | 287,723 | 219,039 |
Substandard | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 145,848 | 125,830 | 139,182 |
Doubtful | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 2,211 | 1,659 | 9,590 |
Loss | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 181 | 175 | |
Residential real estate | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 781,034 | 764,754 | 727,855 |
Loans covered by FDIC loss sharing agreements | 119,894 | 127,115 | 167,835 |
Total | 900,928 | 891,869 | 895,690 |
Residential real estate | Pass | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 764,217 | 747,485 | 707,859 |
Residential real estate | Watchlist | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 4,548 | 5,320 | 5,779 |
Residential real estate | Substandard | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 11,717 | 11,290 | 13,039 |
Residential real estate | Doubtful | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 552 | 659 | 1,178 |
Residential real estate | Loss | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 0 | 0 | |
Commercial real estate | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 2,266,943 | 2,003,838 | 1,808,112 |
Loans covered by FDIC loss sharing agreements | 66,264 | 95,467 | 150,745 |
Total | 2,333,207 | 2,099,305 | 1,958,857 |
Commercial real estate | Pass | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 2,129,884 | 1,867,866 | 1,652,694 |
Commercial real estate | Watchlist | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 70,965 | 84,132 | 72,924 |
Commercial real estate | Substandard | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 65,984 | 51,692 | 78,244 |
Commercial real estate | Doubtful | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 110 | 148 | 4,250 |
Commercial real estate | Loss | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 0 | 0 | |
Commercial non real estate | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 1,132,509 | 1,312,658 | 1,224,092 |
Loans covered by FDIC loss sharing agreements | 7,460 | 9,390 | 28,163 |
Total | 1,139,969 | 1,322,048 | 1,252,255 |
Commercial non real estate | Pass | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 1,021,994 | 1,218,558 | 1,144,131 |
Commercial non real estate | Watchlist | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 73,936 | 65,628 | 52,576 |
Commercial non real estate | Substandard | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 34,884 | 27,499 | 23,538 |
Commercial non real estate | Doubtful | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 1,514 | 798 | 3,847 |
Commercial non real estate | Loss | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 181 | 175 | |
Agriculture | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 1,473,283 | 1,369,549 | 1,304,217 |
Loans covered by FDIC loss sharing agreements | 1,874 | 2,004 | 525 |
Total | 1,475,157 | 1,371,553 | 1,304,742 |
Agriculture | Pass | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 1,314,547 | 1,202,145 | 1,192,357 |
Agriculture | Watchlist | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 125,659 | 132,262 | 87,596 |
Agriculture | Substandard | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 33,042 | 35,107 | 23,963 |
Agriculture | Doubtful | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 35 | 35 | 301 |
Agriculture | Loss | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 0 | 0 | |
Consumer | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 85,668 | 89,839 | 100,663 |
Loans covered by FDIC loss sharing agreements | 53 | 60 | 140 |
Total | 85,721 | 89,899 | 100,803 |
Consumer | Pass | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 85,082 | 89,197 | 100,087 |
Consumer | Watchlist | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 365 | 381 | 164 |
Consumer | Substandard | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 221 | 242 | 398 |
Consumer | Doubtful | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 0 | 19 | 14 |
Consumer | Loss | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 0 | 0 | |
Other | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 35,311 | 34,243 | 24,711 |
Loans covered by FDIC loss sharing agreements | 0 | 0 | |
Total | 35,311 | 34,243 | 24,711 |
Other | Pass | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 35,311 | 34,243 | 24,711 |
Other | Watchlist | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 0 | 0 | |
Other | Substandard | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 0 | 0 | |
Other | Doubtful | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 0 | 0 | |
Other | Loss | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | $0 | $0 |
Loans_Impaired_Financing_Recei
Loans - Impaired Financing Receivables (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | $162,088 | $142,592 | $178,968 |
Unpaid Principal Balance | 162,347 | 153,665 | 203,183 |
Related Allowance | 15,090 | 9,679 | 17,277 |
Average Recorded Investment | 152,340 | 160,781 | 173,389 |
Residential real estate | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 12,425 | 12,107 | 15,037 |
Unpaid Principal Balance | 12,483 | 12,737 | 16,815 |
Related Allowance | 2,419 | 2,529 | 3,217 |
Average Recorded Investment | 12,266 | 13,572 | 15,716 |
Commercial real estate | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 76,250 | 62,155 | 106,824 |
Unpaid Principal Balance | 76,332 | 64,597 | 123,523 |
Related Allowance | 2,846 | 2,017 | 5,341 |
Average Recorded Investment | 69,203 | 84,490 | 106,780 |
Commercial non real estate | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 39,110 | 32,522 | 31,132 |
Unpaid Principal Balance | 39,194 | 37,882 | 32,557 |
Related Allowance | 8,828 | 3,927 | 5,607 |
Average Recorded Investment | 35,816 | 31,827 | 34,817 |
Agriculture | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 34,080 | 35,528 | 25,563 |
Unpaid Principal Balance | 34,077 | 37,958 | 29,632 |
Related Allowance | 955 | 1,155 | 3,022 |
Average Recorded Investment | 34,804 | 30,546 | 15,522 |
Consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 223 | 280 | 412 |
Unpaid Principal Balance | 261 | 491 | 656 |
Related Allowance | 42 | 51 | 90 |
Average Recorded Investment | $251 | $346 | $554 |
Loans_Troubled_Debt_Restructur
Loans - Troubled Debt Restructurings on Accruing and Nonaccrual Financing Receivables (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Contract | Contract | Contract | Contract | |
Accruing | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded value of TDR balance | $53,146 | $36,857 | $39,130 | |
Change in recorded investment due to principal paydown at time of modification, number of contracts | 0 | 0 | 0 | 0 |
Change in recorded investment due to chargeoffs at time of modification, pre-modification | 0 | 0 | 0 | 0 |
Change in recorded investment due to chargeoffs at time of modification, post-modification | 0 | 0 | 0 | 0 |
Financing receivable, modifications, number of contracts | 4 | 13 | 61 | 49 |
Financing receivable, modifications, pre-modification recorded investment | 20,737 | 4,166 | 13,612 | 41,412 |
Financing receivable, modifications, post-modification recorded investment | 20,737 | 4,166 | 13,612 | 41,412 |
Accruing | Residential real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded value of TDR balance | 723 | 1,112 | 662 | |
Financing receivable, modifications, number of contracts | 0 | 4 | 23 | 8 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 219 | 1,067 | 668 |
Financing receivable, modifications, post-modification recorded investment | 0 | 219 | 1,067 | 668 |
Accruing | Commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded value of TDR balance | 41,114 | 25,177 | 29,373 | |
Financing receivable, modifications, number of contracts | 2 | 1 | 5 | 12 |
Financing receivable, modifications, pre-modification recorded investment | 18,881 | 1,070 | 3,020 | 18,645 |
Financing receivable, modifications, post-modification recorded investment | 18,881 | 1,070 | 3,020 | 18,645 |
Accruing | Commercial non real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded value of TDR balance | 7,561 | 6,753 | 4,769 | |
Financing receivable, modifications, number of contracts | 2 | 7 | 22 | 20 |
Financing receivable, modifications, pre-modification recorded investment | 1,856 | 2,867 | 6,721 | 18,139 |
Financing receivable, modifications, post-modification recorded investment | 1,856 | 2,867 | 6,721 | 18,139 |
Accruing | Agriculture | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded value of TDR balance | 3,731 | 3,780 | 4,326 | |
Financing receivable, modifications, number of contracts | 0 | 0 | 5 | 8 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 2,755 | 3,957 |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 2,755 | 3,957 |
Accruing | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded value of TDR balance | 17 | 35 | ||
Financing receivable, modifications, number of contracts | 0 | 1 | 6 | 1 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 10 | 49 | 3 |
Financing receivable, modifications, post-modification recorded investment | 0 | 10 | 49 | 3 |
Accruing | Rate modification | Residential real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | ||
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | ||
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | ||
Accruing | Rate modification | Commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 2 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 990 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 990 | |
Accruing | Rate modification | Commercial non real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 1 | 2 | 1 | |
Financing receivable, modifications, pre-modification recorded investment | 32 | 500 | 529 | |
Financing receivable, modifications, post-modification recorded investment | 32 | 500 | 529 | |
Accruing | Rate modification | Agriculture | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | ||
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | ||
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | ||
Accruing | Rate modification | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | ||
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | ||
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | ||
Accruing | Term extension | Residential real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 2 | 6 | 7 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 74 | 206 | 663 |
Financing receivable, modifications, post-modification recorded investment | 0 | 74 | 206 | 663 |
Accruing | Term extension | Commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 3 | 7 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 109 | 4,158 |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 109 | 4,158 |
Accruing | Term extension | Commercial non real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 3 | 7 | 10 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 1,699 | 2,183 | 14,851 |
Financing receivable, modifications, post-modification recorded investment | 0 | 1,699 | 2,183 | 14,851 |
Accruing | Term extension | Agriculture | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 5 | 6 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 2,755 | 2,008 |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 2,755 | 2,008 |
Accruing | Term extension | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 1 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 3 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 3 | |
Accruing | Payment modification | Residential real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 1 | 6 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 15 | 474 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 15 | 474 | |
Accruing | Payment modification | Commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 2 | 1 | 2 | 3 |
Financing receivable, modifications, pre-modification recorded investment | 18,881 | 1,070 | 2,911 | 13,497 |
Financing receivable, modifications, post-modification recorded investment | 18,881 | 1,070 | 2,911 | 13,497 |
Accruing | Payment modification | Commercial non real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 1 | 2 | 10 | 9 |
Financing receivable, modifications, pre-modification recorded investment | 1,824 | 668 | 3,593 | 2,759 |
Financing receivable, modifications, post-modification recorded investment | 1,824 | 668 | 3,593 | 2,759 |
Accruing | Payment modification | Agriculture | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 2 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 1,949 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 1,949 | |
Accruing | Payment modification | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 4 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 21 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 21 | |
Accruing | Bankruptcy | Residential real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 1 | 9 | 1 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 130 | 338 | 5 |
Financing receivable, modifications, post-modification recorded investment | 0 | 130 | 338 | 5 |
Accruing | Bankruptcy | Commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | ||
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | ||
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | ||
Accruing | Bankruptcy | Commercial non real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | ||
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | ||
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | ||
Accruing | Bankruptcy | Agriculture | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | ||
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | ||
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | ||
Accruing | Bankruptcy | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | ||
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | ||
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | ||
Accruing | Other | Residential real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 2 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 49 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 49 | |
Accruing | Other | Commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | ||
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | ||
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | ||
Accruing | Other | Commercial non real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 5 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 945 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 945 | |
Accruing | Other | Agriculture | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | ||
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | ||
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | ||
Accruing | Other | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 1 | 2 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 10 | 28 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 10 | 28 | |
Nonaccrual | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded value of TDR balance | 19,778 | 20,415 | 63,140 | |
Change in recorded investment due to principal paydown at time of modification, number of contracts | 0 | 0 | 0 | 0 |
Change in recorded investment due to chargeoffs at time of modification, number of contracts | 0 | 0 | 0 | 1 |
Change in recorded investment due to chargeoffs at time of modification, pre-modification | 0 | 0 | 0 | |
Change in recorded investment due to chargeoffs at time of modification, post-modification | 0 | 0 | 0 | |
Change in recorded investment due to chargeoffs at time of modification, pre-modification | 0 | 0 | 0 | |
Financing receivable, modifications, number of contracts | 0 | 13 | 70 | 64 |
Change in recorded investment due to chargeoffs at time of modification, post-modification | 0 | 0 | ||
Financing receivable, modifications, pre-modification recorded investment | 0 | 181 | 8,977 | 35,869 |
Financing receivable, modifications, post-modification recorded investment | 0 | 181 | 8,977 | 35,234 |
Nonaccrual | Residential real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded value of TDR balance | 1,947 | 1,730 | 1,100 | |
Financing receivable, modifications, number of contracts | 0 | 3 | 42 | 19 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 44 | 1,389 | 1,121 |
Financing receivable, modifications, post-modification recorded investment | 0 | 44 | 1,389 | 1,121 |
Nonaccrual | Commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded value of TDR balance | 6,638 | 6,884 | 49,736 | |
Financing receivable, modifications, number of contracts | 0 | 0 | 6 | 19 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 5,736 | 23,498 |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 5,736 | 23,498 |
Nonaccrual | Commercial non real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded value of TDR balance | 1,468 | 1,785 | 5,007 | |
Financing receivable, modifications, number of contracts | 0 | 8 | 12 | 12 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 125 | 484 | 4,245 |
Financing receivable, modifications, post-modification recorded investment | 0 | 125 | 484 | 3,610 |
Nonaccrual | Agriculture | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded value of TDR balance | 9,708 | 9,994 | 7,268 | |
Financing receivable, modifications, number of contracts | 0 | 0 | 5 | 7 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 1,342 | 6,964 |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 1,342 | 6,964 |
Nonaccrual | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded value of TDR balance | 17 | 22 | 29 | |
Financing receivable, modifications, number of contracts | 0 | 2 | 5 | 7 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 12 | 26 | 41 |
Financing receivable, modifications, post-modification recorded investment | 0 | 12 | 26 | 41 |
Nonaccrual | Rate modification | Residential real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 5 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 119 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 119 | |
Nonaccrual | Rate modification | Commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 3 | 2 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 1,618 | 310 |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 1,618 | 310 |
Nonaccrual | Rate modification | Commercial non real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 1 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 1,067 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 1,067 | |
Nonaccrual | Rate modification | Agriculture | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | ||
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | ||
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | ||
Nonaccrual | Rate modification | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 2 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 11 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 11 | |
Nonaccrual | Term extension | Residential real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 1 | 13 | 15 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 2 | 351 | 638 |
Financing receivable, modifications, post-modification recorded investment | 0 | 2 | 351 | 638 |
Nonaccrual | Term extension | Commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 2 | 7 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 4,031 | 2,448 |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 4,031 | 2,448 |
Nonaccrual | Term extension | Commercial non real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 8 | 10 | 8 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 125 | 438 | 1,127 |
Financing receivable, modifications, post-modification recorded investment | 0 | 125 | 438 | 1,127 |
Nonaccrual | Term extension | Agriculture | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 3 | 3 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 831 | 768 |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 831 | 768 |
Nonaccrual | Term extension | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 1 | 2 | 5 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 11 | 15 | 30 |
Financing receivable, modifications, post-modification recorded investment | 0 | 11 | 15 | 30 |
Nonaccrual | Payment modification | Residential real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 6 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 219 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 219 | |
Nonaccrual | Payment modification | Commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 7 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 17,578 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 17,578 | |
Nonaccrual | Payment modification | Commercial non real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 1 | 3 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 36 | 2,051 |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 36 | 1,416 |
Nonaccrual | Payment modification | Agriculture | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 4 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 6,196 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 6,196 | |
Nonaccrual | Payment modification | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 1 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 2 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 2 | |
Nonaccrual | Bankruptcy | Residential real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 1 | 7 | 2 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 4 | 275 | 336 |
Financing receivable, modifications, post-modification recorded investment | 0 | 4 | 275 | 336 |
Nonaccrual | Bankruptcy | Commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 3 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 3,162 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 3,162 | |
Nonaccrual | Bankruptcy | Commercial non real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 1 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 10 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 10 | |
Nonaccrual | Bankruptcy | Agriculture | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | ||
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | ||
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | ||
Nonaccrual | Bankruptcy | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | ||
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | ||
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | ||
Nonaccrual | Other | Residential real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 1 | 11 | 2 |
Financing receivable, modifications, pre-modification recorded investment | 0 | 38 | 425 | 147 |
Financing receivable, modifications, post-modification recorded investment | 0 | 38 | 425 | 147 |
Nonaccrual | Other | Commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 1 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 87 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 87 | |
Nonaccrual | Other | Commercial non real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | ||
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | ||
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | ||
Nonaccrual | Other | Agriculture | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 0 | 2 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 0 | 511 | |
Financing receivable, modifications, post-modification recorded investment | 0 | 0 | 511 | |
Nonaccrual | Other | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable, modifications, number of contracts | 0 | 1 | 2 | |
Financing receivable, modifications, pre-modification recorded investment | 0 | 1 | 9 | |
Financing receivable, modifications, post-modification recorded investment | $0 | $1 | $9 |
Loans_Subsequent_Defaults_on_M
Loans - Subsequent Defaults on Modified Loans (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Contract | Contract | Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 8 | 3 | 22 | 19 |
Recorded Investment | $632 | $9,972 | $1,667 | $11,854 |
Residential real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 6 | 0 | 11 | 5 |
Recorded Investment | 522 | 0 | 419 | 647 |
Commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 1 | 2 | 0 | 7 |
Recorded Investment | 95 | 6,296 | 0 | 4,401 |
Commercial non real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 0 | 0 | 8 | 1 |
Recorded Investment | 0 | 0 | 313 | 1,067 |
Agriculture | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 1 | 1 | 2 | 6 |
Recorded Investment | 15 | 3,676 | 935 | 5,739 |
Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 0 | 0 | 1 | 0 |
Recorded Investment | $0 | $0 | $0 | $0 |
Allowance_for_Loan_Losses_Narr
Allowance for Loan Losses (Narrative) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and written loan commitments at fair value under the fair value option | $1,023,281,000 | $985,411,000 | $841,862,000 |
Loan held for sale | 9,387,000 | 10,381,000 | 8,271,000 |
Loans and leases, loans guaranteed by agencies of U.S. Government | 101,900,000 | 106,460,000 | 104,040,000 |
Unfunded Loan Commitment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses | $400,000 | $400,000 | $400,000 |
Allowance_for_Loan_Losses_Sche
Allowance for Loan Losses - Schedule for Loan Losses (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Allowance for Loan Losses [Abstract] | ||||
Allowance for loan losses | $47,518 | $55,864 | $55,864 | $71,878 |
Charge-offs | -689 | -917 | -13,743 | -31,214 |
Recoveries | 1,672 | 1,997 | 4,713 | 3,626 |
Provision | 3,639 | -1,125 | 4,456 | 13,650 |
Allowance for loan losses | 51,820 | 56,069 | 47,518 | 55,864 |
Ending balance: individually evaluated for impairment | 15,007 | 17,601 | 9,593 | 17,007 |
Ending balance: collectively evaluated for impairment | 31,487 | 30,992 | 32,219 | 31,611 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 5,858,967 | 5,857,573 | 5,692,071 | 5,424,748 |
Ending balance: individually evaluated for impairment | 137,487 | 133,557 | 101,960 | 138,075 |
Ending balance: collectively evaluated for impairment | 5,363,450 | 5,181,924 | 5,187,130 | 4,705,159 |
Residential real estate | ||||
Allowance for Loan Losses [Abstract] | ||||
Allowance for loan losses | 8,342 | 11,779 | 11,779 | 14,761 |
Charge-offs | -57 | -230 | -631 | -1,766 |
Recoveries | 43 | 75 | 233 | 279 |
Provision | -350 | 230 | -788 | 1,043 |
Allowance for loan losses | 7,567 | 11,854 | 8,342 | 11,779 |
Ending balance: individually evaluated for impairment | 2,418 | 3,128 | 2,528 | 3,212 |
Ending balance: collectively evaluated for impairment | 2,776 | 3,691 | 3,030 | 3,533 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 890,085 | 890,073 | 879,971 | 885,245 |
Ending balance: individually evaluated for impairment | 9,592 | 10,037 | 9,384 | 8,917 |
Ending balance: collectively evaluated for impairment | 671,566 | 611,785 | 649,970 | 589,104 |
Commercial real estate | ||||
Allowance for Loan Losses [Abstract] | ||||
Allowance for loan losses | 16,884 | 22,562 | 22,562 | 30,234 |
Charge-offs | -82 | 0 | -3,199 | -19,648 |
Recoveries | 69 | 591 | 1,470 | 689 |
Provision | 735 | -861 | -4,114 | 10,925 |
Allowance for loan losses | 17,722 | 22,292 | 16,884 | 22,562 |
Ending balance: individually evaluated for impairment | 2,783 | 5,355 | 1,953 | 5,095 |
Ending balance: collectively evaluated for impairment | 11,986 | 16,207 | 12,034 | 16,986 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 2,291,220 | 2,299,661 | 2,057,456 | 1,926,828 |
Ending balance: individually evaluated for impairment | 66,049 | 68,973 | 38,457 | 77,620 |
Ending balance: collectively evaluated for impairment | 2,113,647 | 2,019,099 | 1,874,474 | 1,623,274 |
Commercial non real estate | ||||
Allowance for Loan Losses [Abstract] | ||||
Allowance for loan losses | 10,550 | 11,222 | 11,222 | 18,979 |
Charge-offs | -84 | -161 | -5,380 | -3,636 |
Recoveries | 1,160 | 887 | 1,439 | 1,206 |
Provision | 2,999 | -646 | 4,980 | -5,427 |
Allowance for loan losses | 14,625 | 11,552 | 10,550 | 11,222 |
Ending balance: individually evaluated for impairment | 8,816 | 6,227 | 3,909 | 5,594 |
Ending balance: collectively evaluated for impairment | 5,809 | 3,614 | 6,641 | 3,897 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 1,088,065 | 1,079,956 | 1,266,103 | 1,191,500 |
Ending balance: individually evaluated for impairment | 37,961 | 31,299 | 28,298 | 27,527 |
Ending balance: collectively evaluated for impairment | 1,038,540 | 1,025,543 | 1,224,035 | 1,136,611 |
Agriculture | ||||
Allowance for Loan Losses [Abstract] | ||||
Allowance for loan losses | 10,655 | 9,296 | 9,296 | 6,906 |
Charge-offs | 0 | 0 | -2,429 | -4,069 |
Recoveries | 57 | 17 | 58 | 22 |
Provision | 208 | -57 | 3,730 | 6,437 |
Allowance for loan losses | 10,920 | 9,256 | 10,655 | 9,296 |
Ending balance: individually evaluated for impairment | 948 | 2,724 | 1,152 | 3,016 |
Ending balance: collectively evaluated for impairment | 9,972 | 6,532 | 9,503 | 6,280 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 1,468,565 | 1,466,851 | 1,364,399 | 1,295,661 |
Ending balance: individually evaluated for impairment | 23,743 | 22,666 | 25,655 | 23,719 |
Ending balance: collectively evaluated for impairment | 1,422,861 | 1,412,871 | 1,319,343 | 1,240,281 |
Consumer | ||||
Allowance for Loan Losses [Abstract] | ||||
Allowance for loan losses | 264 | 312 | 312 | 542 |
Charge-offs | -38 | -56 | -211 | -244 |
Recoveries | 24 | 36 | 156 | 396 |
Provision | -24 | 98 | -18 | -382 |
Allowance for loan losses | 201 | 390 | 264 | 312 |
Ending balance: individually evaluated for impairment | 42 | 167 | 51 | 90 |
Ending balance: collectively evaluated for impairment | 159 | 223 | 188 | 222 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 85,721 | 85,721 | 89,899 | 100,803 |
Ending balance: individually evaluated for impairment | 142 | 582 | 166 | 292 |
Ending balance: collectively evaluated for impairment | 81,525 | 77,315 | 85,065 | 91,178 |
Other | ||||
Allowance for Loan Losses [Abstract] | ||||
Allowance for loan losses | 823 | 693 | 693 | 456 |
Charge-offs | -428 | -470 | -1,893 | -1,851 |
Recoveries | 319 | 391 | 1,357 | 1,034 |
Provision | 71 | 111 | 666 | 1,054 |
Allowance for loan losses | 785 | 725 | 823 | 693 |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 785 | 725 | 823 | 693 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 35,311 | 35,311 | 34,243 | 24,711 |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 35,311 | 35,311 | 34,243 | 24,711 |
Receivables acquired with deteriorated credit quality | ||||
Allowance for Loan Losses [Abstract] | ||||
Impairment of loans acquired with deteriorated credit quality | -320 | 250 | -3,772 | -2,076 |
Allowance for loan losses | 3,134 | 7,476 | 3,454 | 7,246 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 134,721 | 212,450 | 162,139 | 226,308 |
Receivables acquired with deteriorated credit quality | Residential real estate | ||||
Allowance for Loan Losses [Abstract] | ||||
Impairment of loans acquired with deteriorated credit quality | -411 | 0 | -2,251 | -2,538 |
Allowance for loan losses | 2,373 | 5,035 | 2,784 | 5,034 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 97,779 | 122,068 | 102,987 | 129,905 |
Receivables acquired with deteriorated credit quality | Commercial real estate | ||||
Allowance for Loan Losses [Abstract] | ||||
Impairment of loans acquired with deteriorated credit quality | 116 | 0 | 165 | 362 |
Allowance for loan losses | 761 | 730 | 645 | 481 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 28,768 | 80,903 | 49,202 | 85,022 |
Receivables acquired with deteriorated credit quality | Commercial non real estate | ||||
Allowance for Loan Losses [Abstract] | ||||
Impairment of loans acquired with deteriorated credit quality | 0 | 250 | -1,711 | 100 |
Allowance for loan losses | 0 | 1,711 | 0 | 1,731 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 4,817 | 6,833 | 6,361 | 8,179 |
Receivables acquired with deteriorated credit quality | Agriculture | ||||
Allowance for Loan Losses [Abstract] | ||||
Impairment of loans acquired with deteriorated credit quality | 0 | 0 | 0 | 0 |
Allowance for loan losses | 0 | 0 | 0 | 0 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 1,623 | 0 | 1,746 | 0 |
Receivables acquired with deteriorated credit quality | Consumer | ||||
Allowance for Loan Losses [Abstract] | ||||
Impairment of loans acquired with deteriorated credit quality | -25 | 0 | 25 | 0 |
Allowance for loan losses | 0 | 0 | 25 | 0 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 1,734 | 2,646 | 1,843 | 3,202 |
Receivables acquired with deteriorated credit quality | Other | ||||
Allowance for Loan Losses [Abstract] | ||||
Impairment of loans acquired with deteriorated credit quality | 0 | 0 | 0 | 0 |
Allowance for loan losses | 0 | 0 | 0 | 0 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 0 | 0 | 0 | |
Receivables acquired without deteriorated credit quality | ||||
Allowance for Loan Losses [Abstract] | ||||
Allowance for loan losses | 2,192 | 0 | 2,252 | 0 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 223,309 | 329,642 | 240,842 | 355,206 |
Receivables acquired without deteriorated credit quality | Residential real estate | ||||
Allowance for Loan Losses [Abstract] | ||||
Allowance for loan losses | 0 | 0 | 0 | 0 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 111,148 | 146,183 | 117,630 | 157,319 |
Receivables acquired without deteriorated credit quality | Commercial real estate | ||||
Allowance for Loan Losses [Abstract] | ||||
Allowance for loan losses | 2,192 | 0 | 2,252 | 0 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 82,756 | 130,686 | 95,323 | 140,912 |
Receivables acquired without deteriorated credit quality | Commercial non real estate | ||||
Allowance for Loan Losses [Abstract] | ||||
Allowance for loan losses | 0 | 0 | 0 | 0 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 6,747 | 16,281 | 7,409 | 19,183 |
Receivables acquired without deteriorated credit quality | Agriculture | ||||
Allowance for Loan Losses [Abstract] | ||||
Allowance for loan losses | 0 | 0 | 0 | 0 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 20,338 | 31,314 | 17,655 | 31,661 |
Receivables acquired without deteriorated credit quality | Consumer | ||||
Allowance for Loan Losses [Abstract] | ||||
Allowance for loan losses | 0 | 0 | 0 | 0 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | 2,320 | 5,178 | 2,825 | 6,131 |
Receivables acquired without deteriorated credit quality | Other | ||||
Allowance for Loan Losses [Abstract] | ||||
Allowance for loan losses | 0 | 0 | 0 | 0 |
Financing Receivable, Net [Abstract] | ||||
Ending balance | $0 | $0 | $0 |
Accounting_for_Certain_Loans_A2
Accounting for Certain Loans Acquired with Deteriorated Credit Quality - Schedule of Troubled Debt Restructurings (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Certain loans acquired in transfer not accounted for as debt securities, accretable yield | $50,889 | $67,660 | $67,660 | $93,859 |
Accretion | -4,787 | -4,430 | -18,204 | -29,674 |
Reclassification from nonaccretable difference | 320 | 0 | 6,252 | 6,815 |
Disposals | -80 | -4,819 | -4,819 | -3,340 |
Certain loans acquired in transfer not accounted for as debt securities, accretable yield | $46,342 | $58,411 | $50,889 | $67,660 |
Accounting_for_Certain_Loans_A3
Accounting for Certain Loans Acquired with Deteriorated Credit Quality - Schedule of Impaired Loans (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | |||
In Thousands, unless otherwise specified | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | $236,177 | [1] | $267,151 | [1] | $339,964 | [1] |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Recorded Investment | 134,721 | [2] | 162,139 | [2] | 226,308 | [2] |
Certain loans acquired in transfer not accounted for as debt securities, carrying amount, net | 131,587 | [3] | 158,685 | [3] | 219,062 | [3] |
Residential real estate | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 110,493 | [1] | 115,863 | [1] | 143,998 | [1] |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Recorded Investment | 97,779 | [2] | 102,987 | [2] | 129,905 | [2] |
Certain loans acquired in transfer not accounted for as debt securities, carrying amount, net | 95,406 | [3] | 100,203 | [3] | 124,871 | [3] |
Commercial real estate | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 107,514 | [1] | 130,825 | [1] | 172,706 | [1] |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Recorded Investment | 28,768 | [2] | 49,202 | [2] | 85,022 | [2] |
Certain loans acquired in transfer not accounted for as debt securities, carrying amount, net | 28,007 | [3] | 48,557 | [3] | 84,541 | [3] |
Commercial non real estate | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 14,710 | [1] | 16,697 | [1] | 19,539 | [1] |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Recorded Investment | 4,817 | [2] | 6,361 | [2] | 8,179 | [2] |
Certain loans acquired in transfer not accounted for as debt securities, carrying amount, net | 4,817 | [3] | 6,361 | [3] | 6,448 | [3] |
Agriculture | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,622 | [1] | 1,747 | [1] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Recorded Investment | 1,623 | [2] | 1,746 | [2] | ||
Certain loans acquired in transfer not accounted for as debt securities, carrying amount, net | 1,623 | [3] | 1,746 | [3] | ||
Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,838 | [1] | 2,019 | [1] | 3,721 | [1] |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Recorded Investment | 1,734 | [2] | 1,843 | [2] | 3,202 | [2] |
Certain loans acquired in transfer not accounted for as debt securities, carrying amount, net | $1,734 | [3] | $1,818 | [3] | $3,202 | [3] |
[1] | Represents the legal balance of loans acquired with deteriorated credit quality. | |||||
[2] | Represents the book balance of loans acquired with deteriorated credit quality. | |||||
[3] | Represents the book balance of loans acquired with deteriorated credit quality net of the related allowance for loan losses. |
Accounting_for_Certain_Loans_A4
Accounting for Certain Loans Acquired with Deteriorated Credit Quality - Narrative (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Receivables [Abstract] | ||||
Certain loans acquired in transfer not accounted for as debt securities, allowance for loan losses, decreases | $0 | $0.50 | $4.48 | $4.58 |
FDIC_Indemnification_Asset_Sch
FDIC Indemnification Asset - Schedule of Other Current Assets (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
FDIC Indemnification Asset [Roll Forward] | ||||
Balance at beginning of year | $26,678 | $45,690 | $45,690 | $68,662 |
Amortization | -2,534 | -3,285 | -14,604 | -14,758 |
Changes in expected reimbursements from FDIC for changes in expected credit losses | -191 | -26 | 2,148 | 522 |
Changes in reimbursable expenses | -156 | 10 | 2,358 | -3,453 |
Payments to/(from) the FDIC | -1,635 | -633 | -8,914 | -5,283 |
Balance at end of year | $22,162 | $41,756 | $26,678 | $45,690 |
Summary_of_Premises_and_Equipm
Summary of Premises and Equipment (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Property, Plant and Equipment [Abstract] | |||
Land | $22,539 | $23,238 | |
Buildings and building improvements | 85,370 | 88,171 | |
Furniture and equipment | 32,117 | 42,721 | |
Construction in progress | 144 | 55 | |
Premises and equipment, gross | 140,170 | 154,185 | |
Accumulated depreciation | -36,463 | -39,805 | |
Premises and equipment, net | $102,462 | $103,707 | $114,380 |
Premises_and_Equipment_Detail
Premises and Equipment (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense | $9.64 | $10.70 | $9.58 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments - Notional Amounts and Estimated Fair Value (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Derivative [Line Items] | |||
Negative Fair Value | ($32,395) | ($13,073) | ($1,151) |
Assets | Not Designated as Hedging Instruments | Mortgage loan commitments | |||
Derivative [Line Items] | |||
Notional Amount | 31,834 | 22,563 | 16,040 |
Positive Fair Value | 14 | 19 | 375 |
Negative Fair Value | 0 | 0 | 0 |
Liabilities | Not Designated as Hedging Instruments | Interest rate swaps | |||
Derivative [Line Items] | |||
Notional Amount | 1,018,809 | 986,440 | 864,040 |
Positive Fair Value | 1,118 | 6,213 | 12,404 |
Negative Fair Value | -33,513 | -19,286 | -13,555 |
Liabilities | Not Designated as Hedging Instruments | Mortgage loan forward sale contracts | |||
Derivative [Line Items] | |||
Notional Amount | 36,004 | 28,459 | 21,881 |
Positive Fair Value | 0 | 0 | 0 |
Negative Fair Value | ($14) | ($19) | ($375) |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Narrative) (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | |||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||
Derivative, collateral, right to reclaim cash | $0 | $0 | $0 |
Derivative_Financial_Instrumen4
Derivative Financial Instruments - Effect on the Consolidated Statement of Comprehensive Income (Detail) (Noninterest income, USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest rate swaps | |||||
Derivative [Line Items] | |||||
Amount of Gain (Loss) Recognized in Income | ($24,605) | $4,837 | ($11,922) | $40,305 | ($19,369) |
Mortgage loan commitments | |||||
Derivative [Line Items] | |||||
Amount of Gain (Loss) Recognized in Income | 14 | 3 | 19 | 375 | -1,661 |
Mortgage loan forward sale contracts | |||||
Derivative [Line Items] | |||||
Amount of Gain (Loss) Recognized in Income | ($14) | ($3) | ($19) | ($375) | $1,661 |
Derivative_Financial_Instrumen5
Derivative Financial Instruments - Offsetting Liabilities and Assets (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Offsetting Assets [Line Items] | |||
Derivative financial liabilities, gross amount | ($32,395) | ($13,073) | ($1,151) |
Derivative financial liabilities, amount offset | 0 | 0 | 0 |
Derivative financial liabilities, net amount presented in consolidated balance sheets | -32,395 | -13,073 | -1,151 |
Held/pledged financial instruments | 32,395 | 13,073 | 0 |
Derivative financial liabilities, net amount | 0 | 0 | -1,151 |
Derivatives subject to master netting arrangement or similar arrangement | |||
Offsetting Assets [Line Items] | |||
Derivative financial liabilities, gross amount | -33,513 | -19,286 | -13,555 |
Derivative financial liabilities, amount offset | 1,118 | 6,213 | 12,404 |
Derivative financial liabilities, net amount presented in consolidated balance sheets | -32,395 | -13,073 | -1,151 |
Held/pledged financial instruments | 32,395 | 13,073 | 0 |
Derivative financial liabilities, net amount | 0 | 0 | -1,151 |
Derivatives subject to master netting arrangement or similar arrangement | |||
Offsetting Assets [Line Items] | |||
Derivative financial assets, gross amount | 1,118 | 6,213 | 12,404 |
Derivative financial assets, amount offset | -1,118 | -6,213 | -12,404 |
Derivative financial assets, net amount presented in consolidated balance sheets | 0 | 0 | 0 |
Held/pledged financial instruments | 0 | 0 | 0 |
Derivative financial assets, net amount | $0 | $0 | $0 |
The_Fair_Value_Option_Narrativ
The Fair Value Option (Narrative) (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value, Option, Loans Held as Assets, 90 Days or More Past Due | $0 | ||||
Eligible Item or Group For Fair Value Option | 28.1 | 7.1 | 4.83 | ||
Loans Receivable and Written Loan Commitments | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Eligible Item or Group For Fair Value Option | 1.7 | -0.02 | 0 | -0.85 | -4.27 |
Fair value, option, aggregate differences, long-term debt instruments | $995.20 | $978.30 | $846.69 |
The_Fair_Value_Option_Schedule
The Fair Value Option - Schedule of Fair Value Option (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Net increase (decrease) in fair value of loans at fair value | $17,100 | ($9,110) | $11,904 | ($41,160) | $15,093 |
Loans Receivable and Written Loan Commitments | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Net increase (decrease) in fair value of loans at fair value | 17,100 | -9,110 | 11,904 | -41,160 | 15,093 |
Noninterest income | Loans Receivable and Written Loan Commitments | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Net increase (decrease) in fair value of loans at fair value | $17,100 | ($9,110) | $11,904 | ($41,160) | $15,093 |
Goodwill_Changes_in_Carrying_A
Goodwill - Changes in Carrying Amount of Goodwill (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2014 |
Goodwill [Roll Forward] | |||
Balance, beginning of year | $697,807 | $697,807 | $697,807 |
Arising from prior period purchases | 0 | 0 | |
Arising from business acquisitions | 0 | 0 | |
Balance, end of year | $697,807 | $697,807 | $697,807 |
Core_Deposits_and_Other_Intang2
Core Deposits and Other Intangibles - Intangible Assets Amortization Expense (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | $117,232 | $117,232 | $117,232 |
Accumulated amortization | -105,316 | -103,003 | -86,788 |
Core deposits and other intangibles | 11,916 | 14,229 | 30,444 |
Core Deposit Intangible | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 92,679 | 92,679 | 92,679 |
Accumulated amortization | -89,121 | -87,423 | -73,668 |
Core deposits and other intangibles | 3,558 | 5,256 | 19,011 |
Brand Intangible | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 8,464 | 8,464 | 8,464 |
Accumulated amortization | -3,713 | -3,572 | -3,008 |
Core deposits and other intangibles | 4,751 | 4,892 | 5,456 |
Customer Relationships Intangible | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 16,089 | 16,089 | 16,089 |
Accumulated amortization | -12,482 | -12,008 | -10,112 |
Core deposits and other intangibles | $3,607 | $4,081 | $5,977 |
Core_Deposits_and_Other_Intang3
Core Deposits and Other Intangibles (Narrative) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Goodwill and Intangible Assets Disclosure [Abstract] | |||||
Amortization expense of intangible assets | $2.30 | $4.70 | $16.22 | $19.29 | $19.65 |
Core_Deposits_and_Other_Intang4
Core Deposits and Other Intangibles - Schedule of Future Amortization Expense (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Remaining in 2015 | $4,797 | ||
2015 | 7,110 | ||
2016 | 2,822 | 2,822 | |
2017 | 1,097 | 1,097 | |
2018 | 564 | 564 | |
2019 | 564 | 564 | |
2020 and thereafter | 2,072 | 2,072 | |
Core deposits and other intangibles | $11,916 | $14,229 | $30,444 |
Deposits_Composition_of_Deposi
Deposits - Composition of Deposits (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Deposits [Abstract] | |||
Noninterest-bearing demand | $1,303,015 | $1,199,427 | |
NOW accounts, money market and savings | 4,005,471 | 3,601,796 | |
Time certificates, $100,000 or more | 733,376 | 850,817 | |
Other time certificates | 1,010,318 | 1,296,168 | |
Total deposits | $7,239,206 | $7,052,180 | $6,948,208 |
Deposits_Scheduled_Maturities_
Deposits - Scheduled Maturities of Time Certificates (Detail) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Time Deposits, Fiscal Year Maturity [Abstract] | |
2015 | $1,137,736 |
2016 | 316,194 |
2017 | 132,565 |
2018 | 78,430 |
2019 | 36,359 |
2020 and thereafter | 42,410 |
Time Deposits | $1,743,694 |
Securities_Sold_Under_Agreemen1
Securities Sold Under Agreements to Repurchase (Narrative) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
Offsetting Assets [Line Items] | |||
Securities sold under agreements to repurchase | 200.3 | 190.59 | $226.16 |
Securities sold under agreements to repurchase, fair value of collateral | 199.2 | 188.61 | $224.16 |
Minimum | |||
Offsetting Assets [Line Items] | |||
Securities sold under agreements to repurchase, maturity period | 1 day | 1 day | |
Maximum | |||
Offsetting Assets [Line Items] | |||
Securities sold under agreements to repurchase, maturity period | 4 days | 4 days |
FHLB_Advances_Related_Party_No2
FHLB Advances, Related Party Notes Payable and Other Borrowings - Schedule of Advances, Related Party Notes (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 03, 2008 | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
Debt Instrument [Line Items] | |||||
Related party notes payable | 41,295 | 41,295 | 41,295 | 41,295 | |
Advances from Federal Home Loan Banks | 575,000 | 575,000 | 575,000 | 390,500 | |
Other | 85 | 94 | 94 | 107 | |
Advances from Federal Home Loan Banks and Other Borrowings | 575,085 | 575,094 | 575,094 | 390,607 | |
Notes, Loans and Financing Receivable, Net, Current | 616,380 | 616,389 | 616,389 | 431,902 | |
Line of credit facility, maximum borrowing capacity | 10,000 | 10,000 | 10,000 | 10,000 | |
Revolving line of credit to NAB | |||||
Debt Instrument [Line Items] | |||||
Related party notes payable | 5,500 | 5,500 | 5,500 | 5,500 | |
Subordinated Capital Note to NAB New York due June 2018 | |||||
Debt Instrument [Line Items] | |||||
Related party notes payable | 35,795 | 35,795 | 35,795 | 35,795 | 35,795 |
Subordinated Capital Note to NAB New York due June 2018 | London Interbank Offered Rate (LIBOR) | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 2.05% | ||||
Line of Credit | Revolving line of credit to NAB | London Interbank Offered Rate (LIBOR) | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | 1.25% | 1.25% | 1.25% | |
Subordinated debt | Subordinated Capital Note to NAB New York due June 2018 | London Interbank Offered Rate (LIBOR) | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 2.05% | 2.05% | 2.05% | 2.05% | |
Subordinated debt | Notes Payable to FHLB collateralized by real estate loans, due 2023 | Minimum | London Interbank Offered Rate (LIBOR) | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 0.21% | 0.21% | 0.21% | ||
Subordinated debt | Notes Payable to FHLB collateralized by real estate loans, due 2023 | Maximum | London Interbank Offered Rate (LIBOR) | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 0.36% | 0.36% | 0.36% |
FHLB_Advances_Related_Party_No3
FHLB Advances, Related Party Notes Payable and Other Borrowings (Narrative) (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | |||
Related Party Transactions [Abstract] | |||
Borrowing capacity, amount | $685.60 | $659.76 | |
Principal balances of loans pledged to the FHLB | $2,174.20 | $2,145.55 | $1,984.67 |
FHLB_Advances_Related_Party_No4
FHLB Advances, Related Party Notes Payable and Other Borrowings - Schedule of Due or Callable Notes (Detail) (FHLB Advances and Related Party Notes Payable, USD $) | Dec. 31, 2014 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | ||
FHLB Advances and Related Party Notes Payable | ||
Debt Instrument [Line Items] | ||
2015 | $95,585 | $70,594 |
2016 | 90,000 | 90,000 |
2017 | 25,000 | 25,000 |
2018 | 60,795 | 60,795 |
2019 | 75,000 | 100,000 |
2020 and thereafter | 270,000 | 270,000 |
Total | $616,380 | $616,389 |
Subordinated_Debentures_Narrat
Subordinated Debentures (Narrative) (Detail) (USD $) | 0 Months Ended | |||||
Mar. 10, 2006 | Jun. 01, 2005 | Dec. 17, 2003 | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | |
Debt Instrument [Line Items] | ||||||
Subordinated debentures | $56,083,000 | $56,083,000 | $56,083,000 | |||
Private Placement [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Maximum consecutive periods on deferred payment of interest | 20 consecutive quarters | 20 consecutive quarters | 20 consecutive quarters | |||
Debt instrument term | 90 days | 30 years | ||||
Debt instrument redemption end date | 15-Mar-36 | |||||
Debt instrument redemption end date | 15-Jun-35 | |||||
Common shares held as assets in trust | $1,680,000 | $1,680,000 | ||||
Private Placement [Member] | London Interbank Offered Rate (LIBOR) | ||||||
Debt Instrument [Line Items] | ||||||
Basis points distribution | 1.48% | 1.85% | 2.85% | |||
Private Placement [Member] | Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Trust preferred securities to be issued | 30,000 | 22,400 | ||||
Trust preferred securities, par value | 1,000 | 1,000 | 1,000 | |||
Trust preferred securities redemption price per security | 1,000 | 1,000 | 1,000 | |||
Preferred Securities redemption, percentage | 9.75% | |||||
Trust preferred securities to be issued, acquisition | 2,000 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Income Tax Expense (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | |||||
Federal | $13,673 | $15,967 | $58,172 | $51,828 | $51,677 |
State | 1,993 | 2,669 | 8,638 | 8,158 | 7,200 |
Current Income Tax Expense (Benefit) | 15,666 | 18,636 | 66,810 | 59,986 | 58,877 |
Deferred Income Tax Expense (Benefit) | -1,964 | -3,697 | -12,463 | -6,088 | -14,719 |
Income tax expense (benefit) | $13,702 | $14,939 | $54,347 | $53,898 | $44,158 |
Income_Taxes_Schedule_of_Effec
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | |||||
Tax at statutory rate (35%) | $14,019 | $15,240 | $55,754 | $52,550 | $41,004 |
Tax exempt interest income | -1,565 | -1,102 | -4,926 | -3,856 | -2,348 |
State income taxes, net of federal benefit | 1,295 | 1,735 | 5,615 | 5,303 | 4,680 |
Other | -47 | -934 | -2,096 | -99 | 822 |
Income tax expense (benefit) | $13,702 | $14,939 | $54,347 | $53,898 | $44,158 |
Income_Taxes_Schedule_of_Defer
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Income Tax Disclosure [Abstract] | |||
Allowance for loan losses | $20,705 | $19,683 | $22,686 |
Compensation | 508 | 329 | 320 |
Net operating loss carryforward | 106 | 119 | 170 |
Securities available for sale | 1,849 | 3,758 | 4,144 |
Other real estate owned | 14,780 | 13,721 | 7,072 |
Core deposit intangible and other fair value adjustments | 10,900 | 10,573 | 6,617 |
Excess tax basis of loans acquired over carrying value | 9,005 | 9,595 | 10,879 |
Other | 4,880 | 6,272 | 5,668 |
Deferred tax assets | 62,733 | 64,050 | 57,556 |
Goodwill and other intangibles | -10,072 | -9,099 | -5,143 |
Securities available for sale | 0 | 0 | |
Premises and equipment | -3,957 | -4,390 | -6,132 |
Excess carrying value of FDIC indemnification asset and clawback liability | -2,480 | -4,280 | -11,943 |
Other | -1,465 | -1,578 | -1,712 |
Deferred tax liabilities, gross | -17,974 | -19,347 | -24,930 |
Net deferred tax assets (liabilities) | $44,759 | $44,703 | $32,626 |
Income_Taxes_Narrative_Detail
Income Taxes (Narrative) (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Income Tax Contingency [Line Items] | |||
Income tax payable | $12,563 | $4,915 | $12,390 |
Internal Revenue Service (IRS) | |||
Income Tax Contingency [Line Items] | |||
Income tax payable | 13,700 | ||
National Americas Investment, Inc | |||
Income Tax Contingency [Line Items] | |||
Income tax payable | $4,910 | $12,390 |
ProfitSharing_Plan_Narrative_D
Profit-Sharing Plan (Narrative) (Detail) (Multiple employer 401(k) profit sharing plan, USD $) | 3 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Multiple employer 401(k) profit sharing plan | |||||
Defined Contribution Plan Disclosure [Line Items] | |||||
Defined contribution plan, requisite service period | 1 year | 1 year | |||
Defined contribution plan, minimum age requirement | 21 years | 21 years | |||
Contributions by the Company | $1.30 | $1.20 | $3.60 | $4.48 | $4.13 |
Capital_Amounts_and_Ratios_Det
Capital Amounts and Ratios (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Consolidated Entities | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Actual Amount, Total | $851,867 | $846,689 |
Actual Ratio, Total | 12.87% | 13.80% |
For Capital Adequacy Purposes, Amount, Total | 529,521 | 490,865 |
For Capital Adequacy Purposes, Ratio, Total | 8.00% | 8.00% |
Actual Amount, Tier One Risk Based Capital | 782,872 | 762,189 |
Actual Ratio, Tier One Risk Based Capital | 11.83% | 12.42% |
For Capital Adequacy Purposes, Amount, Tier One Risk Based Capital | 264,707 | 245,433 |
For Capital Adequacy Purposes, Ratio, Tier One Risk Based Capital | 4.00% | 4.00% |
Actual Amount, Tier One Leverage Capital | 782,872 | 762,189 |
Actual Ratio, Tier One Leverage Capital | 9.10% | 9.20% |
For Capital Adequacy Purposes, Amount, Tier One Leverage Capital | 344,120 | 331,374 |
For Capital Adequacy Purposes, Ratio, Tier One Leverage Capital | 4.00% | 4.00% |
NAB | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Actual Amount, Total | 861,392 | 848,534 |
Actual Ratio, Total | 13.02% | 13.83% |
For Capital Adequacy Purposes, Amount, Total | 529,273 | 490,793 |
For Capital Adequacy Purposes, Ratio, Total | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount, Total | 661,591 | 613,492 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio, Total | 10.00% | 10.00% |
Actual Amount, Tier One Risk Based Capital | 813,874 | 792,670 |
Actual Ratio, Tier One Risk Based Capital | 12.30% | 12.92% |
For Capital Adequacy Purposes, Amount, Tier One Risk Based Capital | 264,674 | 245,397 |
For Capital Adequacy Purposes, Ratio, Tier One Risk Based Capital | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount, Tier One Risk Based Capital | 397,012 | 368,095 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio, Tier One Risk Based Capital | 6.00% | 6.00% |
Actual Amount, Tier One Leverage Capital | 813,874 | 792,670 |
Actual Ratio, Tier One Leverage Capital | 9.46% | 9.45% |
For Capital Adequacy Purposes, Amount, Tier One Leverage Capital | 344,133 | 335,348 |
For Capital Adequacy Purposes, Ratio, Tier One Leverage Capital | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount, Tier One Leverage Capital | $430,166 | $419,185 |
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio, Tier One Leverage Capital | 5.00% | 5.00% |
Summary_of_commitments_Detail
Summary of commitments (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Commitments to Extend Credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments | $1,939,544 | $1,713,869 |
Standby Letters of Credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments | $54,381 | $51,893 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Narrative) (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Loss Contingencies [Line Items] | |||
Loans repurchased | $1.73 | $0.16 | |
Operating lease rent expense | $5.21 | $5.62 | $5.32 |
Minimum | |||
Loss Contingencies [Line Items] | |||
Operating lease agreements, renewal term | 1 year | ||
Maximum | |||
Loss Contingencies [Line Items] | |||
Operating lease agreements, renewal term | 5 years |
Future_Minimum_Rental_Payments
Future Minimum Rental Payments for Operating Leases (Detail) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2015 | $3,463 |
2016 | 2,884 |
2017 | 2,394 |
2018 | 1,848 |
2019 | 974 |
2020 and thereafter | 1,261 |
Operating Leases, Future Minimum Payments Due, Total | $12,824 |
Transactions_With_Related_Part1
Transactions With Related Parties (Narrative) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 03, 2008 | |
Related Party Transaction [Line Items] | ||||||
Related party notes payable | $41,295,000 | $41,295,000 | $41,295,000 | |||
Line of credit facility, maximum borrowing capacity | 10,000,000 | 10,000,000 | 10,000,000 | |||
Interest paid | 8,129,000 | 8,919,000 | 33,570,000 | 43,832,000 | 51,502,000 | |
Restricted shares expense | 2,060,000 | 1,940,000 | 2,140,000 | |||
Reimbursable expense by related party | 440,000 | 580,000 | 880,000 | |||
Payments for related parties, apportioned costs | 210,000 | |||||
Initial public offering related expenses | 1,940,000 | |||||
Related party transaction, description | The Company's Chief Executive Officer's son owns a 22.5% interest in Sioux Falls Financial Services, LLC, which leases to the Company certain property in South Dakota used as an operations center. The lease agreement for this property commenced on April 1, 2011 and contains customary and standard terms for similar lease arrangements. The term of the lease runs through March 31, 2020, at which point the Company has the option to renew the lease for an additional five year term. | |||||
Ownership percentage by related parties by lessor | 22.50% | |||||
Payments for lease total | 180,000 | 190,000 | 170,000 | |||
Repurchase of shares during the period | 130,880 | |||||
Subordinated Capital Note to NAB New York due June 2018 | ||||||
Related Party Transaction [Line Items] | ||||||
Related party notes payable | 35,795,000 | 35,795,000 | 35,795,000 | 35,795,000 | ||
Debt Instrument, interest rate | 2.28% | |||||
Accrued expenses | ||||||
Related Party Transaction [Line Items] | ||||||
Liability related to restricted stock compensation | 820,000 | 2,360,000 | ||||
Notes Payable To Related Party | ||||||
Related Party Transaction [Line Items] | ||||||
Interest paid | 910,000 | 910,000 | 1,000,000 | |||
National Australia Bank Limited | ||||||
Related Party Transaction [Line Items] | ||||||
Securities purchased | 0 | 56,120,000 | ||||
Commissions to related party | 0 | |||||
National Australia Bank Limited | Revolving Credit Facility | ||||||
Related Party Transaction [Line Items] | ||||||
Debt Instrument, interest rate | 1.41% | |||||
Line of credit facility, maximum borrowing capacity | 10,000,000 | |||||
Line of credit outstanding | $5,500,000 | $5,500,000 | ||||
London Interbank Offered Rate (LIBOR) | Subordinated Capital Note to NAB New York due June 2018 | ||||||
Related Party Transaction [Line Items] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.05% | |||||
London Interbank Offered Rate (LIBOR) | National Australia Bank Limited | Revolving Credit Facility | ||||||
Related Party Transaction [Line Items] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.25% |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments and Interest Rate Risk - Schedule of Fair Value Measurements of Assets and Liabilities (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | $1,263,983 | $1,341,242 | $1,480,449 |
Derivatives-liabilities | 32,409 | 13,092 | 1,526 |
Fair value loans and written loan commitments | 1,023,281 | 985,411 | 841,862 |
Fair value, measurements, recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 1,263,983 | 1,341,242 | 1,480,449 |
Derivative-assets | 14 | 19 | 375 |
Derivatives-liabilities | 32,409 | 13,092 | 1,526 |
Fair value loans and written loan commitments | 1,023,281 | 985,411 | 841,862 |
Fair value, measurements, recurring | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 272,578 | 222,725 | 0 |
Derivative-assets | 0 | 0 | 0 |
Derivatives-liabilities | 0 | 0 | 0 |
Fair value loans and written loan commitments | 0 | 0 | 0 |
Fair value, measurements, recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 989,447 | 1,116,488 | 1,478,206 |
Derivative-assets | 14 | 19 | 375 |
Derivatives-liabilities | 32,409 | 13,092 | 1,526 |
Fair value loans and written loan commitments | 1,023,281 | 985,411 | 841,862 |
Fair value, measurements, recurring | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 1,958 | 2,029 | 2,243 |
Derivative-assets | 0 | 0 | 0 |
Derivatives-liabilities | 0 | 0 | 0 |
Fair value loans and written loan commitments | 0 | 0 | 0 |
U.S. Treasury securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 272,578 | 222,725 | 0 |
U.S. Treasury securities | Fair value, measurements, recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 272,578 | 222,725 | 0 |
U.S. Treasury securities | Fair value, measurements, recurring | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 272,578 | 222,725 | 0 |
U.S. Treasury securities | Fair value, measurements, recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 0 | 0 | 0 |
U.S. Treasury securities | Fair value, measurements, recurring | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 0 | 0 | 0 |
Mortgage-backed securities | Fair value, measurements, recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 983,102 | 1,103,415 | 1,459,444 |
Mortgage-backed securities | Fair value, measurements, recurring | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 0 | 0 | 0 |
Mortgage-backed securities | Fair value, measurements, recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 983,102 | 1,103,415 | 1,459,444 |
Mortgage-backed securities | Fair value, measurements, recurring | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 0 | 0 | 0 |
States and political subdivision securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 2,118 | 2,189 | 3,532 |
States and political subdivision securities | Fair value, measurements, recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 2,118 | 2,189 | 3,532 |
States and political subdivision securities | Fair value, measurements, recurring | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 0 | 0 | 0 |
States and political subdivision securities | Fair value, measurements, recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 160 | 160 | 1,289 |
States and political subdivision securities | Fair value, measurements, recurring | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 1,958 | 2,029 | 2,243 |
Corporate debt securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 5,141 | 11,873 | 12,013 |
Corporate debt securities | Fair value, measurements, recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 5,141 | 11,873 | 12,013 |
Corporate debt securities | Fair value, measurements, recurring | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 0 | 0 | 0 |
Corporate debt securities | Fair value, measurements, recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 5,141 | 11,873 | 12,013 |
Corporate debt securities | Fair value, measurements, recurring | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 0 | 0 | 0 |
Other | Fair value, measurements, recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 1,044 | 1,040 | 5,460 |
Other | Fair value, measurements, recurring | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 0 | 0 | 0 |
Other | Fair value, measurements, recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 1,044 | 1,040 | 5,460 |
Other | Fair value, measurements, recurring | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | $0 | $0 | $0 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments and Interest Rate Risk - Schedule of Other Available-for-Sale (Detail) (Available-for-sale securities, USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Available-for-sale securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Asset value of Level 3 financial instruments | $2,029 | $2,243 | $2,243 | $3,852 |
Principal paydown | -71 | 0 | -214 | -1,609 |
Asset value of Level 3 financial instruments | $1,958 | $2,243 | $2,029 | $2,243 |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments and Interest Rate Risk - Mortgage Loans Held for Sale (Detail) (Fair Value, Measurements, Nonrecurring, USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Other real estate owned | $7,164 | $36,879 | $40,723 |
Impaired loans | 152,312 | 111,265 | 154,512 |
Loans held for sale, at lower of cost or fair value | 9,387 | 10,381 | 8,271 |
Level 1 | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Other real estate owned | 0 | 0 | 0 |
Impaired loans | 0 | 0 | 0 |
Loans held for sale, at lower of cost or fair value | 0 | 0 | 0 |
Level 2 | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Other real estate owned | 0 | 0 | 0 |
Impaired loans | 0 | 0 | 0 |
Loans held for sale, at lower of cost or fair value | 9,387 | 10,381 | 8,271 |
Level 3 | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Other real estate owned | 7,164 | 36,879 | 40,723 |
Impaired loans | 152,312 | 111,265 | 154,512 |
Loans held for sale, at lower of cost or fair value | $0 | $0 | $0 |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments and Interest Rate Risk - Level 3 Schedule (Detail) (Fair Value, Measurements, Nonrecurring, USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Other real estate owned | $7,164 | $36,879 | $40,723 |
Impaired loans | 152,312 | 111,265 | 154,512 |
Level 3 | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Other real estate owned | 7,164 | 36,879 | 40,723 |
Impaired loans | $152,312 | $111,265 | $154,512 |
Fair_Value_of_Financial_Instru6
Fair Value of Financial Instruments and Interest Rate Risk (Narrative) (Detail) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2014 | Sep. 30, 2014 | |
Fair Value Disclosures [Abstract] | ||
Derivative, remaining maturity | 180 days | 180 days |
Fair_Value_of_Financial_Instru7
Fair Value of Financial Instruments and Interest Rate Risk - Schedule of Balance Sheet Grouping Fair Value (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Level 1 | Carrying Amount | |||
Assets | |||
Cash and due from banks | $428,186 | $256,639 | $282,157 |
Level 1 | Fair Value | |||
Assets | |||
Cash and due from banks | 428,186 | 256,639 | 282,157 |
Level 2 | Carrying Amount | |||
Assets | |||
Accrued interest receivable | 38,201 | 42,609 | 41,065 |
Federal Home Loan Bank stock | 35,869 | 35,922 | 28,765 |
Liabilities | |||
FHLB advances, related party notes payable, and other borrowings | 616,380 | 616,389 | 431,902 |
Securities sold under repurchase agreements | 190,585 | 161,687 | 217,562 |
Accrued interest payable | 4,812 | 5,273 | 6,790 |
Subordinated debentures | 56,083 | 56,083 | 56,083 |
Level 2 | Fair Value | |||
Assets | |||
Accrued interest receivable | 38,201 | 42,609 | 41,065 |
Federal Home Loan Bank stock | 35,869 | 35,922 | 28,765 |
Liabilities | |||
FHLB advances, related party notes payable, and other borrowings | 607,884 | 604,615 | 421,593 |
Securities sold under repurchase agreements | 190,585 | 161,687 | 217,562 |
Accrued interest payable | 4,812 | 5,273 | 6,790 |
Subordinated debentures | 56,083 | 56,084 | 56,084 |
Level 3 | Carrying Amount | |||
Assets | |||
Loans, net excluding fair valued loans and loans held for sale | 5,902,227 | 5,744,157 | 5,456,676 |
Liabilities | |||
Deposits | 7,239,206 | 7,052,180 | 6,948,208 |
Level 3 | Fair Value | |||
Assets | |||
Loans, net excluding fair valued loans and loans held for sale | 5,887,141 | 5,734,274 | 5,420,963 |
Liabilities | |||
Deposits | $7,241,999 | $7,057,591 | $6,959,936 |
Earnings_per_Share_Schedule_of
Earnings per Share - Schedule of EPS, Basic and Diluted (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||||||||
Net income | $26,697 | $27,875 | $22,502 | $25,971 | $28,604 | $26,323 | $24,318 | $23,918 | $21,684 | $104,952 | $96,243 | $72,995 |
Weighted average common shares outstanding | 57,895,783 | 57,886,114 | 57,886,114 | 57,886,114 | 57,886,114 | |||||||
Dilutive effect of stock based compensation | 0 | 0 | ||||||||||
Weighted average common shares outstanding for diluted earnings per share calculation | 57,895,783 | 57,886,114 | ||||||||||
Basic earnings per share (in dollars per share) | $0.46 | $0.49 | $1.81 | $1.66 | $1.26 | |||||||
Diluted earnings per share (in dollars per share) | $0.46 | $0.49 | ||||||||||
Restricted stock | ||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||||||||
Securities excluded from computation of earnings per share | 219,534 | 0 |
Parent_Company_Only_Financial_2
Parent Company Only Financial Statements - Condensed Balance Sheets (Detail) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
In Thousands, unless otherwise specified | ||||||
Assets | ||||||
Cash and due from banks | $428,186 | $256,639 | $282,157 | |||
Investment in affiliates | 1,683 | 1,683 | 1,683 | |||
Accrued interest receivable | 38,201 | 42,609 | 41,065 | |||
Net deferred tax assets | 44,759 | 44,703 | 32,626 | |||
Other assets | 51,715 | 52,603 | 43,726 | |||
Total assets | 9,641,261 | 9,371,429 | 9,134,258 | |||
Liabilities and stockholder's equity | ||||||
Related party notes payable | 41,295 | 41,295 | 41,295 | |||
Subordinated debentures | 56,083 | 56,083 | 56,083 | |||
Accrued interest payable | 4,812 | 5,273 | 6,790 | |||
Income taxes payable | 12,563 | 4,915 | 12,390 | |||
Accrued expenses and other liabilities | 37,853 | 40,720 | 42,583 | |||
Total liabilities | 8,189,891 | 7,950,339 | 7,717,044 | |||
Stockholder's equity | ||||||
Common stock | 579 | 579 | 579 | |||
Additional paid-in capital | 1,260,592 | 1,260,124 | 1,260,124 | |||
Retained earnings | 193,241 | 166,544 | 163,592 | |||
Accumulated other comprehensive income (loss) | -3,042 | -6,157 | -13,535 | -7,081 | 19,111 | 16,542 |
Total stockholder's equity | 1,451,370 | 1,421,090 | 1,405,364 | 1,417,214 | 1,388,563 | 1,354,799 |
Total liabilities and stockholder's equity | 9,641,261 | 9,371,429 | 9,134,258 | |||
NAB | ||||||
Assets | ||||||
Cash and due from banks | 5,753 | 6,710 | ||||
Investment in subsidiaries | 1,508,175 | 1,503,778 | ||||
Investment in affiliates | 1,683 | 1,683 | ||||
Accrued interest receivable | 2 | 2 | ||||
Net deferred tax assets | 416 | 413 | ||||
Other assets | 7,469 | 14,521 | ||||
Total assets | 1,523,498 | 1,527,107 | ||||
Liabilities and stockholder's equity | ||||||
Related party notes payable | 41,295 | 41,295 | ||||
Subordinated debentures | 56,083 | 56,083 | ||||
Accrued interest payable | 115 | 113 | ||||
Income taxes payable | 4,915 | 12,390 | ||||
Accrued expenses and other liabilities | 0 | 12 | ||||
Total liabilities | 102,408 | 109,893 | ||||
Stockholder's equity | ||||||
Common stock | 579 | 579 | ||||
Additional paid-in capital | 1,260,124 | 1,260,124 | ||||
Retained earnings | 166,544 | 163,592 | ||||
Accumulated other comprehensive income (loss) | -6,157 | -7,081 | ||||
Total stockholder's equity | 1,421,090 | 1,417,214 | ||||
Total liabilities and stockholder's equity | $1,523,498 | $1,527,107 |
Parent_Company_Only_Financial_3
Parent Company Only Financial Statements - Condensed Statements of Comprehensive Income (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Condensed Financial Statements, Captions [Line Items] | ||||||||||||
Dividends on securities | $250 | $201 | $968 | $909 | $1,030 | |||||||
Total interest and dividend income | 90,578 | 90,941 | 87,878 | 84,886 | 88,771 | 87,092 | 88,156 | 85,581 | 88,805 | 352,476 | 349,634 | 339,142 |
Interest on related party notes payable | 232 | 234 | 921 | 950 | 1,007 | |||||||
Interest on subordinated debentures | 330 | 334 | 1,315 | 1,347 | 1,436 | |||||||
Salaries and employee benefits | 24,088 | 24,021 | 95,105 | 100,660 | 97,689 | |||||||
Professional fees | 3,572 | 2,898 | 12,233 | 12,547 | 13,049 | |||||||
Benefit for income taxes | -13,702 | -14,939 | -54,347 | -53,898 | -44,158 | |||||||
Net income | 26,697 | 27,875 | 22,502 | 25,971 | 28,604 | 26,323 | 24,318 | 23,918 | 21,684 | 104,952 | 96,243 | 72,995 |
NAB | ||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||
Dividends from subsidiary bank | 105,000 | 49,900 | 45,800 | |||||||||
Dividends on securities | 257 | 112 | 264 | |||||||||
Other | 40 | 40 | 66 | |||||||||
Total interest and dividend income | 105,297 | 50,052 | 46,130 | |||||||||
Interest on related party notes payable | 921 | 950 | 1,007 | |||||||||
Interest on subordinated debentures | 1,315 | 1,347 | 1,436 | |||||||||
Salaries and employee benefits | 661 | 906 | 1,655 | |||||||||
Professional fees | 1,080 | 135 | 120 | |||||||||
Other | 1,834 | 2,388 | 1,770 | |||||||||
Total expense | 5,811 | 5,726 | 5,988 | |||||||||
Income before income tax and equity in undistributed net income of subsidiaries | 99,486 | 44,326 | 40,142 | |||||||||
Benefit for income taxes | 1,993 | 1,955 | 2,057 | |||||||||
Income before equity in undistributed net income of subsidiaries | 101,479 | 46,281 | 42,199 | |||||||||
Equity in undistributed net income of subsidiaries | 3,473 | 49,962 | 30,796 | |||||||||
Net income | $104,952 | $96,243 | $72,995 |
Parent_Company_Only_Financial_4
Parent Company Only Financial Statements - Condensed Statements of Cash Flows (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities | |||||
Net income | $26,697 | $28,604 | $104,952 | $96,243 | $72,995 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||
Depreciation and amortization | 6,258 | 9,861 | 34,770 | 43,764 | 47,333 |
Deferred income taxes | -1,964 | -3,697 | -12,463 | -6,088 | -14,719 |
Changes in: | |||||
Other assets | 833 | 1,475 | -1,721 | -2,931 | 15,005 |
Accrued interest and other liabilities | 23,416 | -7,851 | -441 | -35,519 | 21,653 |
Net cash provided by operating activities | 70,850 | 34,818 | 152,719 | 152,841 | 217,720 |
Financing activities | |||||
Dividends paid | 0 | -34,000 | -102,000 | -41,400 | -41,800 |
Net cash provided by financing activities | 215,915 | 123,764 | 130,584 | 89,270 | 358,301 |
Change in cash and due from banks | 171,547 | 126,016 | -25,518 | 26,172 | -114,111 |
Cash and due from banks, beginning of period | 256,639 | 282,157 | 282,157 | 255,985 | 370,096 |
Cash and due from banks, end of period | 428,186 | 408,173 | 256,639 | 282,157 | 255,985 |
NAB | |||||
Operating activities | |||||
Net income | 104,952 | 96,243 | 72,995 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||
Depreciation and amortization | 0 | 0 | 1 | ||
Deferred income taxes | -7,478 | 750 | -1,817 | ||
Changes in: | |||||
Other assets | 7,052 | -875 | 9,213 | ||
Accrued interest and other liabilities | -10 | -558 | 369 | ||
Equity in undistributed net income of subsidiaries | -3,473 | -49,962 | -30,796 | ||
Net cash provided by operating activities | 101,043 | 45,598 | 49,965 | ||
Financing activities | |||||
Net change in note payable to NAB | 0 | 0 | -7,000 | ||
Dividends paid | -102,000 | -41,400 | -41,800 | ||
Net cash provided by financing activities | -102,000 | -41,400 | -48,800 | ||
Change in cash and due from banks | -957 | 4,198 | 1,165 | ||
Cash and due from banks, beginning of period | 6,710 | 6,710 | 2,512 | 1,347 | |
Cash and due from banks, end of period | $5,753 | $6,710 | $2,512 |
Selected_Quarterly_Financial_D2
Selected Quarterly Financial Data (unaudited) - Summary of Quarterly Results (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||
Total interest and dividend income | $90,578 | $90,941 | $87,878 | $84,886 | $88,771 | $87,092 | $88,156 | $85,581 | $88,805 | $352,476 | $349,634 | $339,142 |
Interest expense | 7,669 | 7,715 | 7,778 | 7,929 | 8,630 | 8,812 | 9,206 | 9,942 | 11,201 | 32,052 | 39,161 | 50,971 |
Net interest income | 82,909 | 83,226 | 80,100 | 76,957 | 80,141 | 78,280 | 78,950 | 75,639 | 77,604 | 320,424 | 310,473 | 288,171 |
Provision for loan losses | 3,319 | 2,749 | 1,500 | -2,690 | -875 | -2,460 | 3,500 | 534 | 10,000 | 684 | 11,574 | 30,145 |
Noninterest income | 7,900 | 8,501 | 10,314 | 10,140 | 10,826 | 12,802 | 12,934 | 15,933 | 18,163 | 39,781 | 59,832 | 67,946 |
Noninterest expense | 47,091 | 48,318 | 54,278 | 49,327 | 48,299 | 53,003 | 50,277 | 53,780 | 51,530 | 200,222 | 208,590 | 208,819 |
Net income | $26,697 | $27,875 | $22,502 | $25,971 | $28,604 | $26,323 | $24,318 | $23,918 | $21,684 | $104,952 | $96,243 | $72,995 |
Earnings per share | $0.48 | $0.39 | $0.45 | $0.49 | $0.46 | $0.42 | $0.41 | $0.37 |
Changes_in_the_Presentation_of2
Changes in the Presentation of Results for Loans at Fair Value and Related Derivatives - Schedule of Error Correction on Realized Gain (Loss) on Derivatives (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Noninterest income | |||
Realized gain (loss) on derivatives | ($18,255) | ($14,217) | ($9,931) |
Immaterial Error Correction | Interest Income | |||
Realized gain (loss) on derivatives | ($18,255) | ($14,217) | ($9,931) |
Changes_in_the_Presentation_of3
Changes in the Presentation of Results for Loans at Fair Value and Related Derivatives - Schedule of Fair Value of Loans, Correction (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Change in fair value of loans | $17,100 | ($9,110) | $11,904 | ($41,160) | $15,093 |
Noninterest expense | Previously Reported | |||||
Unrealized gain (loss) on derivatives | -40,305 | 19,369 | |||
Net increase (decrease) in fair value of loans at fair value | Adjustment | |||||
Loan fair value change related to interest rates | -11,922 | 40,305 | -19,369 | ||
Loan fair value change related to credit quality | 18 | 855 | 4,276 | ||
Reclassification adjustment | -11,904 | 41,160 | -15,093 | ||
Derivatives, net realized and unrealized gain (loss) | Adjustment | |||||
Reclassification adjustment | 11,922 | -40,305 | 19,369 | ||
Change in presentation of changes in fair value of fair value loans | Interest Income | Previously Reported | |||||
Loan fair value change related to interest rates | -11,922 | 40,305 | -19,369 | ||
Loan fair value change related to credit quality | 18 | 855 | 4,276 | ||
Change in fair value of loans | -11,904 | 41,160 | -15,093 | ||
Change in presentation of gain (loss) for derivatives related to fair value loans | Noninterest expense | Previously Reported | |||||
Unrealized gain (loss) on derivatives | $11,922 |
Basis_of_Presentation_Schedule
Basis of Presentation - Schedule of Fair Value of Loans, Correction (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Jan. 28, 2015 |
Dividends declared per share (in dollars per share) | $0 | $0.59 | $1.76 | $0.72 | $0.72 | |
Change in fair value of loans | $17,100 | ($9,110) | $11,904 | ($41,160) | $15,093 | |
Subsequent Event | ||||||
Dividends declared per share (in dollars per share) | $0.12 | |||||
Noninterest expense | Previously Reported | ||||||
Unrealized gain (loss) on derivatives | -40,305 | 19,369 | ||||
Noninterest expense | Change in presentation of gain (loss) for derivatives related to fair value loans | Previously Reported | ||||||
Unrealized gain (loss) on derivatives | 11,922 | |||||
Interest Income | Change in presentation of changes in fair value of fair value loans | Previously Reported | ||||||
Loan fair value change related to interest rates | -11,922 | 40,305 | -19,369 | |||
Loan fair value change related to credit quality | 18 | 855 | 4,276 | |||
Change in fair value of loans | -11,904 | 41,160 | -15,093 | |||
Net increase (decrease) in fair value of loans at fair value | Adjustment | ||||||
Loan fair value change related to interest rates | -11,922 | 40,305 | -19,369 | |||
Loan fair value change related to credit quality | 18 | 855 | 4,276 | |||
Reclassification adjustment | -11,904 | 41,160 | -15,093 | |||
Derivatives, net realized and unrealized gain (loss) | Adjustment | ||||||
Reclassification adjustment | $11,922 | ($40,305) | $19,369 |
Basis_of_Presentation_Schedule1
Basis of Presentation - Schedule of Error Correction on Realized Gain (Loss) on Derivatives (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Noninterest income | |||
Error Corrections and Prior Period Adjustments Revision [Line Items] | |||
Realized gain (loss) on derivatives | ($18,255) | ($14,217) | ($9,931) |
Immaterial Error Correction | Interest Income | |||
Error Corrections and Prior Period Adjustments Revision [Line Items] | |||
Realized gain (loss) on derivatives | ($18,255) | ($14,217) | ($9,931) |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Detail) (USD $) | 3 Months Ended | |
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based payment award, award vesting period | 3 years | |
Allocated share-based compensation expense | $0.50 | $0 |
Tax benefit from compensation expense | 0.2 | 0 |
Share-based Compensation, Target Performance | 100.00% | |
Share-based compensation, compensation cost not yet recognized | $2.70 | |
Share-based compensation, compensation cost not yet recognized, recognition period | 2 years 9 months | |
Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Pre-Established Targets, Performance-based Awards | 0.00% | |
Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation, Target Performance | 150.00% | |
Pre-Established Targets, Performance-based Awards | 150.00% | |
Performance shares | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares to be issued | 329,301 |
StockBased_Compensation_Schedu
Stock-Based Compensation - Schedule of Restricted Stock (Detail) (USD $) | 3 Months Ended |
Dec. 31, 2014 | |
Restricted stock | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Restricted stock, beginning of year (shares) | 0 |
Granted (shares) | 78,063 |
Vested (shares) | -12,221 |
Forfeited (shares) | 0 |
Canceled (shares) | 0 |
Restricted stock, beginning of year (shares) | 65,842 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Restricted stock, beginning of year (in USD per share) | $0 |
Granted (in USD per share) | $18 |
Vested (in USD per share) | $18 |
Forfeited (in USD per share) | $0 |
Canceled (in USD per share) | $0 |
Restricted stock, beginning of year (in USD per share) | $18 |
Performance shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Restricted stock, beginning of year (shares) | 0 |
Granted (shares) | 220,579 |
Vested (shares) | 0 |
Forfeited (shares) | -1,045 |
Canceled (shares) | 0 |
Restricted stock, beginning of year (shares) | 219,534 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Restricted stock, beginning of year (in USD per share) | $0 |
Granted (in USD per share) | $18 |
Vested (in USD per share) | $0 |
Forfeited (in USD per share) | $18 |
Canceled (in USD per share) | $0 |
Restricted stock, beginning of year (in USD per share) | $18 |