FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Summary of Fair Values of Securities Available for Sale and Held to Maturity

The following table summarizes the fair values of debt securities available for sale and equity securities at December 31, 2019 and September 30, 2019, as they are measured at fair value on a recurring basis.

	Fair Value At December 31, 2019
(Dollars in Thousands)	Total		Level 1		Level 2		Level 3
Debt securities AFS
SBA securities	$	180,920	$	—	$	180,920	$	—
Obligations of states and political subdivisions	874		—		874		—
Non-bank qualified obligations of states and political subdivisions	373,989		—		373,989		—
Asset-backed securities	296,820		—		296,820		—
Mortgage-backed securities	362,120		—		362,120		—
Total debt securities AFS	$	1,214,723	$	—	$	1,214,723	$	—
Common equities and mutual funds(1)	$	2,947	$	2,947	$	—	$	—
Non-marketable equity securities(2)	$	2,640	$	—	$	—	$	—

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

⁽²⁾ Consists of certain non-marketable equity securities that are measured at fair value using net asset value ("NAV") per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.

	Fair Value At September 30, 2019
(Dollars in Thousands)	Total		Level 1		Level 2		Level 3
Debt securities AFS
SBA securities	$	185,982	$	—	$	185,982	$	—
Obligations of states and political subdivisions	874		—		874		—
Non-bank qualified obligations of states and political subdivisions	400,557		—		400,557		—
Asset-backed securities	302,534		—		302,534		—
Mortgage-backed securities	382,546		—		382,546		—
Total debt securities AFS	$	1,272,493	$	—	$	1,272,493	$	—
Common equities and mutual funds(1)	$	2,606	$	2,606	$	—	$	—
Non-marketable equity securities(2)	$	1,669	$	—	$	—	$	—

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

⁽²⁾ Consists of certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.

Assets Measured at Fair Value on Nonrecurring Basis

The following table summarizes the assets of the Company that are measured at fair value in the Condensed Consolidated Statements of Financial Condition on a non-recurring basis as of December 31, 2019 and September 30, 2019.

	Fair Value At December 31, 2019
(Dollars in Thousands)	Total		Level 1		Level 2		Level 3
Impaired loans and leases, net
Commercial finance	$	13,017	$	—	$	—	$	13,017
Total National Lending	13,017		—		—		13,017
Total impaired loans and leases, net	13,017		—		—		13,017
Foreclosed assets, net	1,328		—		—		1,328
Total	$	14,345	$	—	$	—	$	14,345

	Fair Value At September 30, 2019
(Dollars in Thousands)	Total		Level 1		Level 2		Level 3
Impaired loans and leases, net
Commercial finance	$	8,707	$	—	$	—	$	8,707
Total National Lending	8,707		—		—		8,707
Total impaired loans and leases, net	8,707		—		—		8,707
Foreclosed assets, net	29,494		—		—		29,494
Total	$	38,201	$	—	$	—	$	38,201

Quantitative Information about Level 3 Fair Value Measurements

	Quantitative Information About Level 3 Fair Value Measurements
(Dollars in Thousands)	Fair Value at December 31, 2019		Fair Value at September 30, 2019	Valuation Technique	Unobservable Input	Range of Inputs
Impaired loans and leases, net	$	13,017	8,707	Market approach	Appraised values(1)	4.00 - 10.00%
Foreclosed assets, net	$	1,328	29,494	Market approach	Appraised values(1)	4.00 - 30.00%

⁽¹⁾ The Company generally relies on external appraisers to develop this information. Management reduced the appraised value by estimating selling costs and other inputs in a range of 4% to 30%.

Carrying Amount and Estimated Fair Value of Financial Instruments

The following presents the carrying amount and estimated fair value of the financial instruments held by the Company at December 31, 2019 and September 30, 2019.

	December 31, 2019
(Dollars in Thousands)	Carrying Amount		Estimated Fair Value		Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	152,189	$	152,189	$	152,189	$	—	$	—
Debt securities available for sale	1,214,723		1,214,723		—		1,214,723		—
Debt securities held to maturity	123,117		121,899		—		121,899		—
Common equities and mutual funds(1)	2,947		2,947		2,947		—		—
Non-marketable equity securities(1)(2)	12,140		12,140		—		9,500		—
Loans held for sale	264,266		264,266		—		264,266		—
Loans and leases receivable	3,583,297		3,557,579		—		—		3,557,579
Federal Home Loan Bank stock	13,796		13,796		—		13,796		—
Accrued interest receivable	18,687		18,687		18,687		—		—
Financial liabilities
Deposits held for sale	288,975		288,975		—		288,975		—
Deposits	4,517,605		4,527,377		3,290,280		1,237,096		—
Overnight federal funds purchased	194,000		194,000		194,000		—		—
Federal Home Loan Bank advances	110,000		110,733		—		110,733		—
Other short- and long-term borrowings	103,070		106,716		—		106,716		—
Accrued interest payable	6,620		6,620		6,620		—		—

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

⁽²⁾ Includes certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.

	September 30, 2019
(Dollars in Thousands)	Carrying Amount		Estimated Fair Value		Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	126,545	$	126,545	$	126,545	$	—	$	—
Debt securities available for sale	1,272,493		1,272,493		—		1,272,493		—
Debt securities held to maturity	134,764		133,470		—		133,470		—
Common equities and mutual funds(1)	2,606		2,606		2,606		—		—
Non-marketable equity securities(1)(2)	8,169		8,169		—		6,500		—
Loans held for sale	148,777		148,777		—		148,777		—
Loans and leases receivable	3,651,413		3,622,597		—		—		3,622,597
Federal Home Loan Bank stock	30,916		30,916		—		30,916		—
Accrued interest receivable	20,400		20,400		20,400		—		—
Financial liabilities
Deposits	4,337,005		4,338,510		2,920,516		1,417,994		—
Overnight federal funds purchased	642,000		642,000		642,000		—		—
Federal Home Loan Bank advances	110,000		110,691		—		110,691		—
Other short- and long-term borrowings	109,857		113,876		—		113,876		—
Accrued interest payable	9,414		9,414		9,414		—		—

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

⁽²⁾ Includes certain non-marketable equity securities that are measured at fair value using NAV per share (or its equivalent) as a practical expedient and are excluded from the fair value hierarchy.