Parent Company Financial Information (Parent Company Only)

12 Months Ended

Sep. 30, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Financial Information (Parent Company Only)

15. PARENT COMPANY FINANCIAL INFORMATION (PARENT COMPANY ONLY)

The Company serves as the holding company for the Bank (see "Note 1 – Summary of Significant Accounting Policies"). The Company's (parent company only) balance sheets at the dates presented, and the related statements of income and cash flows for each of the years presented are as follows:

BALANCE SHEETS
September 30, 2014 and 2013
(Dollars in thousands, except per share amounts)
	2014			2013
ASSETS:
Cash and cash equivalents	$	139,540		$	207,012
Investment in the Bank	1,306,351			1,370,426
Note receivable - ESOP	46,140			47,260
Other assets	484			282
Income taxes receivable	3,618			3,031
Deferred income tax assets	393			4,186
TOTAL ASSETS	$	1,496,526		$	1,632,197
LIABILITIES:
Accounts payable and accrued expenses	$	3,644		$	71
STOCKHOLDERS' EQUITY:
Preferred stock, $.01 par value; 100,000,000 shares authorized, no shares issued or outstanding	—			—
Common stock, $.01 par value; 1,400,000,000 shares authorized, 140,951,203 and 147,840,268
shares issued and outstanding as of September 30, 2014 and 2013, respectively	1,410			1,478
Additional paid-in capital	1,180,732			1,235,781
Unearned compensation - ESOP	(42,951		)	(44,603		)
Retained earnings	346,705			432,203
AOCI, net of tax	6,986			7,267
Total stockholders' equity	1,492,882			1,632,126
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	1,496,526		$	1,632,197

STATEMENTS OF INCOME
YEARS ENDED SEPTEMBER 30, 2014, 2013 and 2012
(Dollars in thousands)
	2014			2013			2012
INTEREST AND DIVIDEND INCOME:
Dividend income from the Bank	$	145,276		$	70,512		$	88,871
Interest income from other investments	2,004			2,328			2,835
Interest income from securities	—			62			1,062
Total interest and dividend income	147,280			72,902			92,768
NON-INTEREST EXPENSE:
Salaries and employee benefits	774			857			838
Regulatory and outside services	248			473			276
Other non-interest expense	606			648			694
Total non-interest expense	1,628			1,978			1,808
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY IN
EXCESS OF DISTRIBUTION OVER EARNINGS OF SUBSIDIARY	145,652			70,924			90,960
INCOME TAX EXPENSE	132			144			731
INCOME BEFORE EQUITY IN EXCESS OF
DISTRIBUTION OVER EARNINGS OF SUBSIDIARY	145,520			70,780			90,229
EQUITY IN EXCESS OF DISTRIBUTION
OVER EARNINGS OF SUBSIDIARY	(67,826		)	(1,440		)	(15,716		)
NET INCOME	$	77,694		$	69,340		$	74,513

STATEMENTS OF CASH FLOWS
YEARS ENDED SEPTEMBER 30, 2014, 2013 and 2012
(Dollars in thousands)
	2014			2013			2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	77,694		$	69,340		$	74,513
Adjustments to reconcile net income to net cash provided by
operating activities:
Equity in excess of distribution over earnings of subsidiary	67,826			1,440			15,716
Depreciation of equipment	2			—			—
Amortization/accretion of premiums/discounts	—			74			2,196
Other, net	—			263			1,549
Provision for deferred income taxes	3,768			3,216			5,422
Changes in:
Other assets	166			(198		)	(9		)
Income taxes receivable/payable	(562		)	(220		)	(2,160		)
Accounts payable and accrued expenses	(12		)	(27		)	33
Net cash flows provided by operating activities	148,882			73,888			97,260
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from maturities of AFS securities	—			60,000			300,000
Principal collected on notes receivable from ESOP	1,120			2,827			2,672
Purchase of equipment	(370		)	—			—
Net cash flows provided by investing activities	750			62,827			302,672
CASH FLOWS FROM FINANCING ACTIVITIES:
Net payment from subsidiary related to restricted stock awards	243			34			6,128
Dividends paid	(138,172		)	(146,824		)	(63,768		)
Repurchase of common stock	(79,633		)	(91,573		)	(146,781		)
Stock options exercised	458			12			36
Net cash flows used in financing activities	(217,104		)	(238,351		)	(204,385		)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(67,472		)	(101,636		)	195,547
CASH AND CASH EQUIVALENTS:
Beginning of year	207,012			308,648			113,101
End of year	$	139,540		$	207,012		$	308,648