Income Taxes |
6 Months Ended |
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Mar. 31, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | INCOME TAXES At March 31, 2025 and September 30, 2024, the Company had a net operating loss deferred income tax asset of $23.6 million and $30.5 million, respectively. The gross federal and state net operating loss amount at March 31, 2025 was $97.0 million, which will carry forward indefinitely. The net operating loss will be applied to the Company's taxable income, subject to federal and state regulations regarding net operation loss usage limitations, until such time as it is fully utilized. Additionally, the Company had a $17.1 million and $12.8 million deferred tax asset related to the Bank's low income housing tax credits as of March 31, 2025 and September 30, 2024, respectively. These credits are not currently able to be utilized due to income tax return income limitations. Federal tax credits carry forward for 20 years. The Company assesses the available positive and negative evidence surrounding the recoverability of its deferred tax assets and applies its judgment in estimating the amount of the valuation allowance necessary under the circumstances. At March 31, 2025 and September 30, 2024, the Company had a valuation allowance of $33 thousand and $27 thousand, respectively, related to the net operating losses generated by the Company's consolidated Kansas corporate income tax return as management believes there will not be sufficient taxable income to fully utilize these deferred tax assets before they begin to expire in 2028 and thereafter. For this reason, a valuation allowance was recorded for the related amounts at March 31, 2025 and September 30, 2024. No additional valuation allowances were recorded for the Company's other deferred tax assets as management believes it is more likely than not that these amounts will be realized through the reversal of the Company's existing taxable temporary differences and projected future taxable income.
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