Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

Commitments and Contingencies
9 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
12. Commitments and Contingencies



The Company leases space for all its branch offices, which are generally located either in downtown or suburban business centers, and for its corporate headquarters. Branch offices are generally leased over periods ranging from three to five years. The corporate office lease expires in 2020. The leases generally provide for payment of basic rent plus a share of building real estate taxes, maintenance costs and utilities.


Rent expense was $0.7 million and $2.2 million, and $0.9 million and $2.4 million for the three and nine-month periods ended June 30, 2019 and 2018, respectively.


As of June 30, 2019 future minimum lease payments due under non-cancelable lease agreements having initial terms in excess of one year, including certain closed offices are as follows:


(in thousands)      
Remainder of Fiscal 2019   $ 490  
Fiscal 2020     1,569  
Fiscal 2021     1,038  
Fiscal 2022     977  
Fiscal 2023     769  
Thereafter     872  
Total   $ 5,715  


Litigation and Claims


The Company and its subsidiaries are involved in various litigation that arises in the ordinary course of business. There are no pending significant legal proceedings to which the Company is a party for which management believes the ultimate outcome would have a material adverse effect on the Company’s financial position.