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Fair Value (Tables)

12 Months Ended

Sep. 30, 2025

Fair Value Of Assets And Liabilities Measured On Recurring Basis

Assets and liabilities carried at fair value on a recurring basis in the CONSOLIDATED STATEMENTS OF CONDITION at September 30, 2025 and 2024 are summarized below.


			Recurring Fair Value Measurements at Reporting Date Using
	September 30, 2025		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Investment securities available for sale:

REMIC’s	$	455,368	$	—	$	455,368	$	—
Fannie Mae certificates	2,719		—		2,719		—
Freddie Mac certificates	8,617		—		8,617		—
U.S. government and agency obligations	53,955		—		53,955		—
Mortgage loans held for sale	22,861		—		22,861		—
Derivatives:

Interest rate lock commitments	272		—		—		272

Total	$	543,792	$	—	$	543,520	$	272
Liabilities
Derivatives:
Forward commitments for the sale of mortgage loans	351		—		351		—

Total	$	351	$	—	$	351	$	—


			Recurring Fair Value Measurements at Reporting Date Using
	September 30, 2024		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Investment securities available for sale:
REMIC’s	$	449,401	$	—	$	449,401	$	—
Fannie Mae certificates	2,945		—		2,945		—
Freddie Mac certificates	1,129		—		1,129		—
U.S. government and agency obligations	72,776		—		72,776		—
Mortgage loans held for sale	10,713		$	—	10,713		$	—
Derivatives:
Interest rate lock commitments	$	395	—		—		$	395
Total	$	537,359	$	—	$	536,964	$	395
Liabilities
Derivatives:
Forward commitments for the sale of mortgage loans	72		—		72		—
Total	$	72	$	—	$	72	$	—

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The table below presents a reconciliation of the beginning and ending balances and the location within the CONSOLIDATED STATEMENTS OF INCOME where gains (losses) due to changes in fair value are recognized on interest rate lock commitments which are measured at fair value on a recurring basis using significant unobservable inputs (Level 3).


	Interest Rate Lock Commitments
	Year Ended September 30,
	2025		2024		2023
Beginning balance	$	395	$	(1)	$	(333)
Gain during the period due to changes in fair value:
Included in other non-interest income	(123)		396		332
Ending balance	$	272	$	395	$	(1)
Change in unrealized gains for the period included in earnings for assets held at end of the reporting date	$	272	$	395	$	(1)

Assets Measured At Fair Value On A Nonrecurring Basis

Summarized in the tables below are those assets measured at fair value on a nonrecurring basis.


			Nonrecurring Fair Value Measurements at Reporting Date Using
	September 30, 2025		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Collateral-dependent loans, net of allowance	$	45,275	$	—	$	—	$	45,275

Real estate owned(1)	2,355		—		—		2,355
Total	$	47,630	$	—	$	—	$	47,630

______________________

(1) Amounts represent fair value measurements of properties before deducting estimated costs to dispose.


			Nonrecurring Fair Value Measurements at Reporting Date Using
	September 30, 2024		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Collateral-dependent loans, net of allowance	$	39,577	$	—	$	—	$	39,577

Real estate owned(1)	220		—		—		220

Total	$	39,797	$	—	$	—	$	39,797

______________________

(1) Amounts represent fair value measurements of properties before deducting estimated costs to dispose.

Fair Value Inputs, Assets, Quantitative Information

The following provides quantitative information about significant unobservable inputs categorized within Level 3 of the Fair Value Hierarchy.


	Fair Value
	September 30, 2025	Valuation Technique(s)	Unobservable Input	Range			Weighted Average
Collateral-dependent loans, net of allowance	$45,275	Market comparables of collateral discounted to estimated net proceeds	Discount rate applied to appraised value to estimated net proceeds:
			• Residential Properties	0	-	28%	3.2%

Interest rate lock commitments	$272	Quoted Secondary Market pricing	Closure rate	0	-	100%	98.7%


	Fair Value
	September 30, 2024	Valuation Technique(s)	Unobservable Input	Range			Weighted Average
Collateral-dependent loans, net of allowance	$39,577	Market comparables of collateral discounted to estimated net proceeds	Discount rate applied to appraised value to estimated net proceeds:
			• Residential Properties	0	-	28%	4.0%

Interest rate lock commitments	$395	Quoted Secondary Market pricing	Closure rate	0	-	100%	90.1%

Estimated Fair Value Of Financial Instruments

The following tables present the estimated fair value of the Company's financial instruments and their carrying amounts as reported in the CONSOLIDATED STATEMENTS OF CONDITION.


	September 30, 2025
	Carrying		Estimated Fair Value
	Amount		Total		Level 1		Level 2		Level 3
Assets:
Cash and due from banks	$	24,176	$	24,176	$	24,176	$	—	$	—
Interest earning cash equivalents	405,263		405,263		405,263		—		—
Investment securities available for sale	520,659		520,659		—		520,659		—
Mortgage loans held for sale	57,662		58,325		—		58,325		—
Loans, net:
Mortgage loans held for investment	15,655,159		14,564,394		—		—		14,564,394
Other loans	8,153		8,153		—		—		8,153
Federal Home Loan Bank stock	235,363		235,363		N/A		—		—

Accrued interest receivable	62,553		62,553		—		62,553		—
Cash collateral received from or held by counterparty	6,910		6,910		6,910		—		—

Derivatives	272		272		—		—		272
Liabilities:
Checking and savings accounts	$	1,957,745	$	1,957,745	$	—	$	1,957,745	$	—
Certificates of deposit	8,489,223		8,511,443		—		8,511,443		—
Borrowed funds	4,870,219		4,892,273		—		4,892,273		—
Borrowers’ advances for taxes and insurance	113,168		113,168		—		113,168		—
Principal, interest and escrow owed on loans serviced	30,328		30,328		—		30,328		—



Derivatives	351		351		—		351		—


	September 30, 2024
	Carrying		Estimated Fair Value
	Amount		Total		Level 1		Level 2		Level 3
Assets:
Cash and due from banks	$	26,287	$	26,287	$	26,287	$	—	$	—
Interest earning cash equivalents	437,431		437,431		437,431		—		—
Investment securities available for sale	526,251		526,251		—		526,251		—

Mortgage loans held for sale	17,775		17,986		—		17,986		—
Loans, net:
Mortgage loans held for investment	15,316,354		13,922,944		—		—		13,922,944
Other loans	5,705		5,705		—		—		5,705
Federal Home Loan Bank stock	228,494		228,494		N/A		—		—
Accrued interest receivable	59,398		59,398		—		59,398		—

Cash collateral received from or held by counterparty	7,844		7,844		7,844		—		—
Derivatives	395		395		—		—		395
Liabilities:
Checking and savings accounts	$	2,150,770	$	2,150,770	$	—	$	2,150,770	$	—
Certificates of deposit	8,044,309		7,989,992		—		7,989,992		—
Borrowed funds	4,792,847		4,819,873		—		4,819,873		—
Borrowers’ advances for taxes and insurance	113,637		113,637		—		113,637		—
Principal, interest and escrow owed on loans serviced	28,753		28,753		—		28,753		—
Derivatives	72		72		—		72		—

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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