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SECURITIES (Tables)
 6 Months Ended
Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Securities Available for Sale
The amortized cost, gross unrealized gains and losses and estimated fair values of available for sale ("AFS") and held to maturity ("HTM") debt securities at March 31, 2019 and September 30, 2018 are presented below.
At March 31, 2019
AMORTIZED
COST
 
GROSS
UNREALIZED
GAINS
 
GROSS
UNREALIZED
(LOSSES)
 
FAIR
VALUE
 
(Dollars in Thousands)
Debt securities AFS
 
 
 
 
 
 
 
SBA securities
$
163,621

 
$
637

 
$
(155
)
 
$
164,103

Obligations of states and political subdivisions
11,432

 
106

 
(9
)
 
11,529

Non-bank qualified obligations of states and political subdivisions
629,732

 
1,357

 
(9,447
)
 
621,642

Asset-backed securities
284,701

 
1,286

 
(1,598
)
 
284,389

Mortgage-backed securities
419,024

 
1,064

 
(6,595
)
 
413,493

Total debt securities AFS
$
1,508,510

 
$
4,450

 
$
(17,804
)
 
$
1,495,156

Common equities and mutual funds(1)(2)
$
3,592

 
$
619

 
$
—

 
$
4,211

(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at March 31, 2019 and September 30, 2018.
(2) ASU 2016-01 adopted on October 1, 2018, on a prospective basis, removed equity securities from AFS category at March 31, 2019.

At September 30, 2018
AMORTIZED
COST
 
GROSS
UNREALIZED
GAINS
 
GROSS
UNREALIZED
(LOSSES)
 
FAIR
VALUE
 
(Dollars in Thousands)
Debt securities AFS
 
 
 
 
 
 
 
SBA securities
$
45,591

 
$
1

 
$
(1,255
)
 
$
44,337

  Obligations of states and political subdivisions
17,154

 
49

 
(293
)
 
16,910

Non-bank qualified obligations of states and political subdivisions
1,140,884

 
826

 
(31,825
)
 
1,109,885

Asset-backed securities
310,700

 
2,585

 
(257
)
 
313,028

Mortgage-backed securities
378,301

 
—

 
(14,236
)
 
364,065

Total debt securities AFS
$
1,892,630

 
$
3,461

 
$
(47,866
)
 
$
1,848,225

Common equities and mutual funds(1)
3,172

 
635

 
(7
)
 
3,800

Total AFS securities(1)
$
1,895,802

 
$
4,096

 
$
(47,873
)
 
$
1,852,025


(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at March 31, 2019 and September 30, 2018.
Securities Held to Maturity

Held to Maturity
 
 
 
 
 
 
 
At March 31, 2019
AMORTIZED
COST
 
GROSS
UNREALIZED
GAINS
 
GROSS
UNREALIZED
(LOSSES)
 
FAIR
VALUE
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
146,992

 
$
—

 
$
(5,224
)
 
$
141,768

Mortgage-backed securities
7,606

 
—

 
(210
)
 
7,396

Total held to maturity securities
$
154,598

 
$
—

 
$
(5,434
)
 
$
149,164

At September 30, 2018
AMORTIZED
COST
 
GROSS
UNREALIZED
GAINS
 
GROSS
UNREALIZED
(LOSSES)
 
FAIR
VALUE
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
163,893

 
$
—

 
$
(10,758
)
 
$
153,135

Mortgage-backed securities
7,850

 
—

 
(422
)
 
7,428

Total held to maturity securities
$
171,743

 
$
—

 
$
(11,180
)
 
$
160,563
Debt Securities, Trading, and Equity Securities, FV-NI
Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2019 and September 30, 2018, were as follows:
 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At March 31, 2019
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities AFS
 
 
 
 
 
 
 
 
 
 
 
SBA securities
$
41,845

 
$
(29
)
 
$
27,214

 
$
(126
)
 
$
69,059

 
$
(155
)
Obligations of states and political subdivisions
—

 
—

 
2,052

 
(9
)
 
2,052

 
(9
)
Non-bank qualified obligations of states and political subdivisions
10,210

 
(2
)
 
448,680

 
(9,445
)
 
458,890

 
(9,447
)
Asset-backed securities
148,254

 
(1,539
)
 
12,184

 
(59
)
 
160,438

 
(1,598
)
Mortgage-backed securities
32,722

 
(13
)
 
282,789

 
(6,582
)
 
315,511

 
(6,595
)
Total debt securities AFS
$
233,031

 
$
(1,583
)
 
$
772,919

 
$
(16,221
)
 
$
1,005,950

 
$
(17,804
)
Common equities and mutual funds(1)(2)
—

 
—

 
—

 
—

 
—

 
—

(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at March 31, 2019 and September 30, 2018.
(2) ASU 2016-01 adopted on October 1, 2018, on a prospective basis, removed equity securities from AFS category at March 31, 2019.

 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At September 30, 2018
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities AFS
 
 
 
 
 
 
 
 
 
 
 
SBA securities
$
43,097

 
$
(1,255
)
 
$
—

 
$
—

 
$
43,097

 
$
(1,255
)
Obligations of state and political subdivisions
11,036

 
(279
)
 
881

 
(14
)
 
11,917

 
(293
)
Non-bank qualified obligations of states and political subdivisions
626,693

 
(13,539
)
 
358,095

 
(18,286
)
 
984,788

 
(31,825
)
Asset-backed securities
146,638

 
(257
)
 
—

 
—

 
146,638

 
(257
)
Mortgage-backed securities
121,217

 
(3,292
)
 
242,849

 
(10,944
)
 
364,066

 
(14,236
)
Total debt securities AFS
$
948,681

 
$
(18,622
)
 
$
601,825

 
$
(29,244
)
 
$
1,550,506

 
$
(47,866
)
Common equities and mutual funds(1)
1,818

 
(7
)
 
—

 
—

 
1,818

 
(7
)
Total debt AFS securities(1)
$
950,499

 
$
(18,629
)
 
$
601,825

 
$
(29,244
)
 
$
1,552,324

 
$
(47,873
)

(1)Equity securities at fair value are included within other assets on the consolidated statement of financial condition at March 31, 2019 and September 30, 2018.
Schedule of Unrealized Loss on Investments
Held To Maturity
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At March 31, 2019
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
—

 
$
—

 
$
141,768

 
$
(5,225
)
 
$
141,768

 
$
(5,225
)
Mortgage-backed securities
—

 
—

 
7,396

 
(210
)
 
7,396

 
(210
)
Total held to maturity securities
$
—

 
$
—

 
$
149,164

 
$
(5,435
)
 
$
149,164

 
$
(5,435
)

 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At September 30, 2018
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
5,767

 
$
(287
)
 
$
147,368

 
$
(10,471
)
 
$
153,135

 
$
(10,758
)
Mortgage-backed securities
—

 
—

 
7,428

 
(422
)
 
7,428

 
(422
)
Total held to maturity securities
$
5,767

 
$
(287
)
 
$
154,796

 
$
(10,893
)
 
$
160,563

 
$
(11,180
)
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity
The amortized cost and fair value of debt securities by contractual maturity as of the dates set forth below are shown below.  Certain securities have call features which allow the issuer to call the security prior to maturity.  Expected maturities may differ from contractual maturities in mortgage-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.  Therefore, mortgage-backed securities are not included in the maturity categories in the following maturity summary.  The expected maturities of certain housing related municipal securities, SBA and asset-backed securities may differ from contractual maturities because the borrowers may have the right to prepay the obligation. However, certain prepayment penalties may apply.
Securities at Fair Value
AMORTIZED
COST
 
FAIR
VALUE
 
At March 31, 2019
(Dollars in Thousands)
 
 
 
 
Due in one year or less
$
1,020

 
$
1,019

Due after one year through five years
15,058

 
15,285

Due after five years through ten years
64,894

 
65,335

Due after ten years
1,008,514

 
1,000,024

 
1,089,486

 
1,081,663

Mortgage-backed securities
419,024

 
413,493

Total securities at fair value
$
1,508,510

 
$
1,495,156

 
AMORTIZED
COST
 
FAIR
VALUE
At September 30, 2018
(Dollars in Thousands)
 
 
 
 
Due in one year or less
$
2,532

 
$
2,529

Due after one year through five years
41,415

 
41,504

Due after five years through ten years
352,099

 
350,143

Due after ten years
1,118,283

 
1,089,984

 
1,514,329

 
1,484,160

Mortgage-backed securities
378,301

 
364,065

Common equities and mutual funds(1)
3,172

 
3,800

Total securities at fair value
$
1,895,802

 
$
1,852,025

(1)Equity securities at fair value are included within other assets on the consolidated statement of financial condition at March 31, 2019 and September 30, 2018.

Held To Maturity
AMORTIZED
COST
 
FAIR
VALUE
 
At March 31, 2019
(Dollars in Thousands)
 
 
 
 
Due after ten years
$
146,992

 
$
141,768

 
146,992

 
141,768

Mortgage-backed securities
7,606

 
7,396

Total held to maturity securities at cost
$
154,598

 
$
149,164

 
AMORTIZED
COST
 
FAIR
VALUE
At September 30, 2018
(Dollars in Thousands)
Due after ten years
$
163,893

 
$
153,135

 
163,893

 
153,135

Mortgage-backed securities
7,850

 
7,428

Total held to maturity securities at cost
$
171,743

 
$
160,563