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FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Sep. 30, 2022
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 as they are measured at fair value on a recurring basis.
 Fair Value At September 30, 2022
(Dollars in thousands)TotalLevel 1Level 2Level 3
Debt securities AFS
Corporate securities$97,768 $ $97,768  
SBA securities2,344  2,344  
Obligations of states and political subdivisions263,783  263,783  
Non-bank qualified obligations of states and political subdivisions147,790  147,790  
Asset-backed securities1,348,997  1,348,997  
Mortgage-backed securities22,187  22,187  
Total debt securities AFS$1,882,869 $— $1,882,869 $— 
Common equities and mutual funds(1)
$2,874 $2,874 $— $— 
Non-marketable equity securities(2)
$7,212 $— $— $— 
(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at September 30, 2022.
(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, 2021
(Dollars in thousands)TotalLevel 1Level 2Level 3
Debt securities AFS
Corporate securities$25,000 $— $25,000 $— 
SBA securities157,209 — 157,209 — 
Obligations of states and political subdivisions2,507  2,507  
Non-bank qualified obligations of states and political subdivisions268,295 — 268,295 — 
Asset-backed securities394,859 — 394,859 — 
Mortgage-backed securities1,017,029  1,017,029  
Total debt securities AFS$1,864,899 $— $1,864,899 $— 
Common equities and mutual funds(1)
$12,668 $12,668 $— $— 
Non-marketable equity securities(2)
$4,560 $— $— $— 
(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at September 30, 2021.
(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 Consolidated Statements of Financial Condition on a non-recurring basis:
 Fair Value At September 30, 2022
(Dollars in thousands)TotalLevel 1Level 2Level 3
Loans and leases, net individually evaluated for credit loss
Commercial finance$1,575 $— $— $1,575 
    Total loans and leases, net individually evaluated
    for credit loss
1,575 — — 1,575 
Foreclosed assets, net— — 
Total$1,576 $— $— $1,576 

 Fair Value At September 30, 2021
(Dollars in thousands)TotalLevel 1Level 2Level 3
Impaired loans and leases, net
Commercial finance$3,404 $— $— $3,404 
Community banking9,371 — — 9,371 
    Total impaired loans and leases, net12,775 — — 12,775 
Foreclosed assets, net2,077 — — 2,077 
Total$14,852 $— $— $14,852 
Quantitative Information about Level 3 Fair Value Measurements
Quantitative Information About Level 3 Fair Value Measurements
(Dollars in thousands)Fair Value at September 30, 2022Fair Value at September 30, 2021Valuation
Technique
Unobservable InputRange of Inputs
Loans and leases, net individually evaluated for credit loss$1,575 12,775 Market approach
Appraised values(1)
15% - 59%
Foreclosed assets, net$2,077 Market approach
Appraised values(1)
9% - 20%
(1) The Company generally relies on external appraisers to develop this information. Management reduced the appraised value by estimated selling costs and other inputs in a range of 15% to 59%.
Carrying Amount and Estimated Fair Value of Financial Instruments
The following tables present the carrying amount and estimated fair value of the financial instruments held by the Company:
 At September 30, 2022
(Dollars in thousands)Carrying
Amount
Estimated
Fair Value
Level 1Level 2Level 3
Financial assets
Cash and cash equivalents$388,038 $388,038 $388,038 $— $— 
Debt securities available for sale1,882,869 1,882,869 — 1,882,869 — 
Debt securities held to maturity41,682 38,171 — 38,171 — 
Common equities and mutual funds(1)
2,874 2,874 2,874 — — 
Non-marketable equity securities(1)(2)
22,526 22,526 — 15,314 — 
Loans held for sale21,071 21,071 — 21,071 — 
Loans and leases3,529,280 3,525,803 — — 3,525,803 
Federal Reserve Bank and Federal Home Loan Bank stocks28,812 28,812 — 28,812 — 
Accrued interest receivable17,979 17,979 17,979 — — 
Financial liabilities
Deposits5,866,037 5,865,854 5,858,283 7,571 — 
Other short- and long-term borrowings36,028 35,986 — 35,986 — 
Accrued interest payable192 192 192 — — 
(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at September 30, 2022.
(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.
 At September 30, 2021
(Dollars in thousands)Carrying
Amount
Estimated
Fair Value
Level 1Level 2Level 3
Financial assets
Cash and cash equivalents$314,019 $314,019 $314,019 $— $— 
Debt securities available for sale1,864,899 1,864,899 — 1,864,899 — 
Debt securities held to maturity56,669 56,391 — 56,391 — 
Common equities and mutual funds(1)
12,668 12,668 12,668 — — 
Non-marketable equity securities(1)(2)
17,509 17,509 — 12,949 — 
Loans held for sale56,194 56,194 — 56,194 — 
Loans and leases3,607,815 3,616,646 — — 3,616,646 
Federal Reserve Bank and Federal Home Loan Bank stocks28,400 28,400 — 28,400 — 
Accrued interest receivable16,254 16,254 16,254 — — 
Financial liabilities
Deposits5,514,971 5,515,035 5,482,471 32,564 — 
Other short- and long-term borrowings92,834 93,938 — 93,938 — 
Accrued interest payable579 579 579 — — 
(1) Equity securities at fair value are included within other assets on the consolidated statement of financial condition at September 30, 2021.
(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.