XML 65 R46.htm IDEA: XBRL DOCUMENT v3.20.2
Derivative Financial Instruments (Tables)
 12 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative positions, notional amounts
The following table presents the notional amounts and gross fair values of all derivative assets and liabilities held by the Company as of September 30, 2020 and 2019.
September 30, 2020September 30, 2019
Notional AmountGross Asset
Fair Value		Gross Liability
Fair Value		Notional AmountGross Asset
Fair Value		Gross Liability
Fair Value
(dollars in thousands)
Derivatives not designated as hedging instruments:
Interest rate swaps
Financial institution counterparties$1,233,430 $— $(64,259)$1,259,765 $35 $(38,755)
Customer counterparties641,189 83,533 — 499,643 48,652 — 
Interest rate caps
Financial institution counterparties20,538 2 — 100 2 — 
Customer counterparties20,538 — (2)100 — (2)
Risk participation agreements80,681 — (32)56,833 — (58)
Mortgage loan commitments92,278 — (96)56,665 — (11)
Mortgage loan forward sale contracts94,084 96 — 61,872 11 — 
Total$2,182,738 $83,631 $(64,389)$1,934,978 $48,700 $(38,826)
Summary of offsetting assets
The following tables provide information on the Company's netting adjustments as of September 30, 2020 and 2019.
Gross Fair ValueFair Value Offset AmountCash CollateralNet Amount Presented on the Consolidated Balance Sheet
(dollars in thousands)
As of September 30, 2020
Total Derivative Assets$83,631 $(5,263)$20,012 $98,380 
Total Derivative Liabilities ¹$(64,389)$5,263 $59,028 $(98)
1 There was an additional $22.9 million of collateral held for initial margin with a Futures Clearing Merchant for clearing derivatives at September 30, 2020 and is included in other assets in the consolidated balance sheets.

Gross Fair ValueFair Value Offset AmountCash CollateralNet Amount Presented on the Consolidated Balance Sheet
(dollars in thousands)
As of September 30, 2019
Total Derivative Assets$48,700 $(2,445)$12,279 $58,534 
Total Derivative Liabilities ¹$(38,826)$2,445 $36,368 $(13)
1 There was an additional $18.3 million of collateral held for initial margin with a Futures Clearing Merchant for clearing derivatives at September 30, 2019 and is included in other assets in the consolidated balance sheets.
Summary of offsetting liabilities
The following tables provide information on the Company's netting adjustments as of September 30, 2020 and 2019.
Gross Fair ValueFair Value Offset AmountCash CollateralNet Amount Presented on the Consolidated Balance Sheet
(dollars in thousands)
As of September 30, 2020
Total Derivative Assets$83,631 $(5,263)$20,012 $98,380 
Total Derivative Liabilities ¹$(64,389)$5,263 $59,028 $(98)
1 There was an additional $22.9 million of collateral held for initial margin with a Futures Clearing Merchant for clearing derivatives at September 30, 2020 and is included in other assets in the consolidated balance sheets.

Gross Fair ValueFair Value Offset AmountCash CollateralNet Amount Presented on the Consolidated Balance Sheet
(dollars in thousands)
As of September 30, 2019
Total Derivative Assets$48,700 $(2,445)$12,279 $58,534 
Total Derivative Liabilities ¹$(38,826)$2,445 $36,368 $(13)
1 There was an additional $18.3 million of collateral held for initial margin with a Futures Clearing Merchant for clearing derivatives at September 30, 2019 and is included in other assets in the consolidated balance sheets.
Effect of derivatives on consolidated statement of income
The effect of derivatives on the consolidated statements of income for the fiscal years ended September 30, 2020, 2019 and 2018 was as follows.
Amount of (Loss) Gain Recognized in Consolidated Statements of Income
Fiscal Years Ended September 30,
Derivatives not designated as hedging instruments:Location of (Loss) Gain Recognized in Consolidated Statements of Income202020192018
(dollars in thousands)
Interest rate swaps and other derivativesNet realized and unrealized (loss) gain on derivatives$(38,439)$(63,444)$44,596 
Mortgage loan commitmentsNet realized and unrealized (loss) gain on derivatives107 17 (28)
Mortgage loan forward sale contractsNet realized and unrealized (loss) gain on derivatives(107)(17)28