Income Taxes (Tables)

12 Months Ended

Sep. 30, 2018

Summary of major sources of temporary differences and deferred tax effects

The table below provides a summary of the Company's tax assets and liabilities, including deferred tax assets and deferred tax liabilities by major source. Deferred tax balances represent temporary differences between the financial statement and corresponding tax treatment of income, gains, losses, deductions or credits.



	September 30, 2018			September 30, 2017
	(In thousands)
Deferred tax assets
Loan loss reserves	$	31,055		$	50,411
REO reserves	518			1,693
Non-accrual loan interest	877			2,262
FDIC assisted transactions	—			12,236
Federal and state tax credits	1,074			3,939
Deferred compensation	3,165			3,037
Stock based compensation	1,677			2,259
Other	1,747			1,274
Total deferred tax assets	40,113			77,111
Deferred tax liabilities
FHLB stock dividends	14,941			24,135
Valuation adjustment on available-for-sale securities and cash flow hedges	2,442			2,914
Loan origination fees and costs	9,285			13,643
Premises and equipment	23,429			35,950
Other	1,828			2,145
Total deferred tax liabilities	51,925			78,787
Net deferred tax asset (liability)	(11,812		)	(1,676		)
Current tax asset (liability)	13,616			(3,920		)
Net tax asset (liability)	$	1,804		$	(5,596	)

Schedule of effective income tax rate reconciliation

The table below presents a reconciliation of the statutory federal income tax rate to the Company's effective income tax rate.



Year ended September 30,	2018		2017		2016
Statutory income tax rate	25	%	35	%	35	%
State income tax	2		1		1
Impact of change in Federal income tax rate	(2	)	—		—
Other differences	(4	)	(4	)	(2	)
Effective income tax rate	21	%	32	%	34	%

Schedule of components of income tax expense (benefit)

The following table summarizes the Company's income tax expense (benefit) for the respective periods.



Year ended September 30,	2018			2017			2016
	(In thousands)
Federal:
Current	$	40,314		$	87,804		$	57,173
Deferred	8,952			(10,142		)	21,961
	49,266			77,662			79,134
State:
Current	$	4,243		$	4,991		$	3,600
Deferred	(116		)	31			1,351
	4,127			5,022			4,951
Total
Current	44,557			92,795			60,773
Deferred	8,836			(10,111		)	23,312
	$	53,393		$	82,684		$	84,085