Fair Value Measurements (Tables)

3 Months Ended

Dec. 31, 2017

Schedule of fair value assets and liabilities measured on recurring basis

The following tables present the assets and liabilities reported on the consolidated balance sheets at their fair values as of December 31, 2017 and September 30, 2017, by level within the fair value hierarchy:



	December 31, 2017
			Fair value measurements
	Fair value		Quoted prices in active markets for identical assets (Level 1)	Significant other observable inputs (Level 2)	Significant unobservable inputs (Level 3)
	(In thousands)
Measured on a recurring basis:
Securities available-for-sale:
U.S. government and agency obligations	$	39,644	39,644	—	$	—
Mortgage-backed securities and collateralized mortgage obligations	606,612		—	606,612	—
Municipal obligations	1,957		—	1,957	—
Corporate debt securities	54,514		—	54,514	—
Trust preferred securities	4,656		—	4,656	—
Equity securities	3,187		3,187	—	—
Total securities available-for-sale	710,570		42,831	667,739	—
Derivative assets	490		—	490	—
	$	711,060	42,831	668,229	$	—

Derivative liabilities	$	203	—	203	$	—



	September 30, 2017
			Fair value measurements
	Fair value		Quoted prices in active markets for identical assets (Level 1)	Significant other observable inputs (Level 2)	Significant unobservable inputs (Level 3)
	(In thousands)
Measured on a recurring basis:
Securities available-for-sale:
U.S. government and agency obligations	$	24,874	24,874	—	$	—
Mortgage-backed securities and collateralized mortgage obligations	473,491		—	473,491	—
Municipal obligations	1,357		—	1,357	—
Corporate debt securities	49,492		—	49,492	—
Trust preferred securities	4,708		—	4,708	—
Equity securities	3,254		3,254	—	—
Total securities available-for-sale	557,176		28,128	529,048	—
Derivative assets	277		—	277	—
	$	557,453	28,128	529,325	$	—

Derivative liabilities	$	182	—	182	$	—

Schedule of fair value assets and liabilities measured on non-recurring basis



	December 31, 2017
			Fair value measurements
	Fair value		Quoted prices in active markets for identical assets (Level 1)	Significant other observable inputs (Level 2)	Significant unobservable inputs (Level 3)
	(In thousands)
Measured on a non-recurring basis:
Real estate owned	$	959	—	—	$	959
Loans measured for impairment based on the
fair value of the underlying collateral	$	10,251	—	—	$	10,251
	11,210		—	—	11,210



	September 30, 2017
			Fair value measurements
	Fair value		Quoted prices in active markets for identical assets (Level 1)	Significant other observable inputs (Level 2)	Significant unobservable inputs (Level 3)
	(In thousands)
Measured on a non-recurring basis:
Real estate owned	$	393	—	—	$	393
Loans measured for impairment based on the
fair value of the underlying collateral	$	14,156	—	—	$	14,156
	14,549		—	—	14,549

Schedule of qualitatie information for Level 3 assets measured at fair value on a non-recurring basis

The following table presents qualitative information for Level 3 assets measured at fair value on a non-recurring basis as of December 31, 2017 and September 30, 2017:



	December 31, 2017
	Fair value		Valuation methodology	Unobservable inputs	Range of inputs
	(In Thousands)
Real estate owned	$	959	Appraised Value	Discount for cost to sell	6.0%
Loans measured for impairment based on the
fair value of the underlying collateral	$	10,251	Appraised Value	Discount for cost to sell	6.0% - 8.0%

	September 30, 2017
	Fair value		Valuation methodology	Unobservable inputs	Range of inputs
	(In Thousands)
Real estate owned	$	393	Appraised Value	Discount for cost to sell	6.0%
Loans measured for impairment based on the
fair value of the underlying collateral	$	14,156	Appraised Value	Discount for cost to sell	6.0% - 8.0%

Schedule of fair value assets and liabilities on Consolidated Balance Sheets

The following tables present the assets and liabilities reported on the consolidated balance sheets at their fair values as of December 31, 2017 and September 30, 2017:



	December 31, 2017
			Fair Value Instruments
	Carrying Value		Total Fair Value	Quoted prices in active markets for identical assets (Level 1)	Significant other observable inputs (Level 2)	Significant unobservable inputs (Level 3)
	(In thousands)
Financial assets:
Cash and cash equivalents	$	65,498	65,498	65,498	—	$	—
Securities available-for-sale	710,570		710,570	42,831	667,739	—
Securities held-to-maturity	239,618		236,125	—	236,125	—
Federal Home Loan Bank Stock	44,664		44,664	—	44,664	—
Loans receivable, net	4,400,470		4,367,945	—	—	4,367,945
Derivative assets	490		490	—	490	—
Financial liabilities:			—
Total deposits	4,263,315		3,959,460	—	3,959,460	—
Borrowings	929,057		925,032	—	925,032	—
Derivative liabilities	$	203	203	—	203	$	—



	September 30, 2017
			Fair Value Instruments
	Carrying Value		Total Fair Value	Quoted prices in active markets for identical assets (Level 1)	Significant other observable inputs (Level 2)	Significant unobservable inputs (Level 3)
	(In thousands)
Financial assets:
Cash and cash equivalents	$	100,975	100,975	100,975	—	$	—
Securities available-for-sale	557,176		557,176	28,128	529,048	—
Securities held-to-maturity	132,939		131,822	—	131,822	—
Federal Home Loan Bank Stock	35,844		35,844	—	35,844	—
Loans receivable, net	4,307,623		4,301,138	—	—	4,301,138
Derivative assets	277		277	—	277	—
Financial liabilities:			—
Total deposits	4,123,428		3,880,363	—	3,880,363	—
Borrowings	733,043		732,731	—	732,731	—
Derivative liabilities	$	182	182	—	182	$	—