XML 47 R33.htm IDEA: XBRL DOCUMENT v3.22.2.2
SECURITIES (Tables)
 12 Months Ended
Sep. 30, 2022
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 are presented below.
Debt Securities AFS
(Dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair
Value
At September 30, 2022
Corporate securities$25,000 $— $(2,813)$22,187 
SBA securities105,238 — (7,470)97,768 
Obligations of states and political subdivisions2,469 — (125)2,344 
Non-bank qualified obligations of states and political subdivisions290,754 — (26,971)263,783 
Asset-backed securities160,806 — (13,016)147,790 
Mortgage-backed securities1,581,452 — (232,455)1,348,997 
Total debt securities AFS$2,165,719 $— $(282,850)$1,882,869 
At September 30, 2021
Corporate securities$25,000 $— $— $25,000 
SBA securities151,958 5,251 — 157,209 
Obligations of states and political subdivisions2,497 10 — 2,507 
Non-bank qualified obligations of states and political subdivisions266,048 3,347 (1,100)268,295 
Asset-backed securities393,103 3,003 (1,247)394,859 
Mortgage-backed securities1,016,478 9,728 (9,177)1,017,029 
Total debt securities AFS$1,855,084 $21,339 $(11,524)$1,864,899 
Securities Held to Maturity
Debt Securities HTM
(Dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair
Value
At September 30, 2022
Non-bank qualified obligations of states and political subdivisions$39,093 $— $(3,190)$35,903 
Mortgage-backed securities2,589 — (321)2,268 
Total debt securities HTM$41,682 $— $(3,511)$38,171 
At September 30, 2021
Non-bank qualified obligations of states and political subdivisions$52,944 $103 $(471)$52,576 
Mortgage-backed securities3,725 90 — 3,815 
Total debt securities HTM$56,669 $193 $(471)$56,391 
Gross Unrealized Losses and Fair Value of Securities Available for Sale in Continuous Unrealized Loss Position
Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous loss position, were as follows:

LESS THAN 12 MONTHSOVER 12 MONTHSTOTAL
(Dollars in thousands)Fair
Value		Gross Unrealized (Losses)Fair
Value		Gross Unrealized (Losses)Fair
Value		Gross Unrealized (Losses)
Debt Securities AFS
At September 30, 2022
Corporate securities$— $— $22,187 $(2,813)$22,187 $(2,813)
SBA securities97,767 (7,470)— — 97,767 (7,470)
Obligations of state and political subdivisions2,345 (125)— — 2,345 (125)
Non-bank qualified obligations of states and political subdivisions195,816 (19,743)67,967 (7,228)263,783 (26,971)
Asset-backed securities64,886 (1,838)82,904 (11,178)147,790 (13,016)
Mortgage-backed securities816,657 (106,583)532,340 (125,872)1,348,997 (232,455)
Total debt securities AFS$1,177,471 $(135,759)$705,398 $(147,091)$1,882,869 $(282,850)
At September 30, 2021
Non-bank qualified obligations of states and political subdivisions$101,046 $(1,100)$— $— $101,046 $(1,100)
Asset-backed securities127,110 (283)91,553 (964)218,663 (1,247)
Mortgage-backed securities759,035 (7,418)60,792 (1,759)819,827 (9,177)
Total debt securities AFS$987,191 $(8,801)$152,345 $(2,723)$1,139,536 $(11,524)
Debt Securities HTM
At September 30, 2022
Non-bank qualified obligations of states and political subdivisions$3,984 $(300)$31,919 $(2,890)$35,903 $(3,190)
Mortgage-backed securities2,268 (321)— — 2,268 (321)
Total debt securities HTM$6,252 $(621)$31,919 $(2,890)$38,171 $(3,511)
At September 30, 2021
Non-bank qualified obligations of states and political subdivisions$26,096 $(471)$— $— $26,096 $(471)
Total debt securities HTM$26,096 $(471)$— $— $26,096 $(471)
Gross Unrealized Losses and Fair Value of Securities Held to Maturity in Continuous Unrealized Loss Position
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity The amortized cost and fair value of debt securities by contractual maturity 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 MBS because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Therefore, MBS are not included in the maturity categories in the following maturity summary. The expected maturities of certain SBA securities may differ from contractual maturities because the borrowers may have the right to prepay the obligation. However, certain prepayment penalties may apply.
At September 30,
(Dollars in thousands)20222021
Securities AFS at Fair ValueAmortized CostFair
Value		Amortized CostFair
Value
Due in one year or less$718 $715 $810 $822 
Due after one year through five years9,921 9,395 13,026 13,378 
Due after five years through ten years89,921 81,819 50,785 52,357 
Due after ten years483,707 441,943 773,985 781,313 
584,267 533,872 838,606 847,870 
Mortgage-backed securities1,581,452 1,348,997 1,016,478 1,017,029 
Total securities AFS, at fair value$2,165,719 $1,882,869 $1,855,084 $1,864,899 

At September 30,
(Dollars in thousands)20222021
Securities HTM at Fair ValueAmortized CostFair
Value		Amortized CostFair
Value
Due after ten years$39,093 $35,903 $52,944 $52,576 
39,093 35,903 52,944 52,576 
Mortgage-backed securities2,589 2,268 3,725 3,815 
Total securities HTM, at cost$41,682 $38,171 $56,669 $56,391 
Summary of Activities Related to Sale of Securities Available for Sale Activity related to the sale of securities available for sale is summarized below.
Fiscal Year Ended September 30,
(Dollars in thousands)202220212020
Available For Sale
   Proceeds from sales$265,951 $50,468 $4,904 
   Gross gains on sales1,742 179 51 
   Gross losses on sales1,588 173 — 
 Net gain (loss) on securities AFS$154 $6 $51