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Investment Securities | 12 Months Ended
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Sep. 30, 2011
Investment Securities [Abstract] |
Investment Securities | INVESTMENT SECURITIES
September 30, | 2011
| Amortized Cost |  | Gross Unrealized |  | Fair Value |  | Yield
Gains |  | Losses |
| (In thousands)
Available-for-sale securities |  |  |  |  |  |  |  |  |
U.S. government and agency securities due |  |  |  |  |  |  |  |  |
Within 1 year | $ | 500 |  |  | $ | 34 |  |  | $ | — |  |  | $ | 534 |  |  | 4.00 | %
1 to 5 years | — |  |  | — |  |  | — |  |  | — |  |  | — |
5 to 10 years | 9,300 |  |  | 4,547 |  |  | — |  |  | 13,847 |  |  | 10.38 | %
Over 10 years | 175,515 |  |  | 631 |  |  | — |  |  | 176,146 |  |  | 2.57 | %
Corporate bonds due |  |  |  |  |  |  |  |  |
5 to 10 years | 30,000 |  |  | 284 |  |  | (325 | ) |  | 29,959 |  |  | 4.00 | %
Municipal bonds due |  |  |  |  |  |  |  |  |
Over 10 years | 20,461 |  |  | 3,107 |  |  | — |  |  | 23,568 |  |  | 6.45 | %
Mortgage-backed securities |  |  |  |  |  |  |  |  |
Agency pass-through certificates | 2,883,734 |  |  | 127,356 |  |  | — |  |  | 3,011,090 |  |  | 4.72 | %
| 3,119,510 |  |  | 135,959 |  |  | (325 | ) |  | 3,255,144 |  |  | 4.62 | %
Held-to-maturity securities |  |  |  |  |  |  |  |  |
Tax-exempt municipal bonds due |  |  |  |  |  |  |  |  |
1 to 5 years | 405 |  |  | 5 |  |  | — |  |  | 410 |  |  | 6.52 | %
5 to 10 years | 1,545 |  |  | 68 |  |  | — |  |  | 1,613 |  |  | 5.60 | %
Over 10 years | — |  |  | — |  |  | — |  |  | — |  |  | — | %
U.S. government and agency securities due |  |  |  |  |  |  |  |  |
1 to 5 years | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Mortgage-backed securities |  |  |  |  |  |  |  |  |
Agency pass-through certificates | 45,086 |  |  | 3,507 |  |  | — |  |  | 48,593 |  |  | 5.31 | %
| 47,036 |  |  | 3,580 |  |  | — |  |  | 50,616 |  |  | 5.33 | %
| $ | 3,166,546 |  |  | $ | 139,539 |  |  | $ | (325 | ) |  | $ | 3,305,760 |  |  | 4.63 | %
September 30, | 2010
| Amortized Cost |  | Gross Unrealized |  | Fair Value |  | Yield
| Gains |  | Losses |
| (In thousands)
Available-for-sale securities |  |  |  |  |  |  |  |  |
U.S. government and agency securities due |  |  |  |  |  |  |  |  |
Within 1 year | $ | 500 |  |  | $ | 26 |  |  | $ | — |  |  | $ | 526 |  |  | 4.00 | %
1 to 5 years | 25,000 |  |  | 180 |  |  | — |  |  | 25,180 |  |  | 3.25 | %
5 to 10 years | 158,915 |  |  | 5,344 |  |  | (105 | ) |  | 164,154 |  |  | 3.59 | %
Over 10 years | 150,000 |  |  | 1,161 |  |  | (15 | ) |  | 151,146 |  |  | 3.50 | %
Corporate bonds due |  |  |  |  |  |  |  |  |
5 to 10 years | 10,000 |  |  | — |  |  | — |  |  | 10,000 |  |  | 6.00 | %
Mortgage-backed securities |  |  |  |  |  |  |  |  |
Agency pass-through certificates | 2,058,130 |  |  | 72,853 |  |  | (896 | ) |  | 2,130,087 |  |  | 5.26 | %
| 2,402,545 |  |  | 79,564 |  |  | (1,016 | ) |  | 2,481,093 |  |  | 5.02 | %
Held-to-maturity securities |  |  |  |  |  |  |  |  |
Tax-exempt municipal bonds due |  |  |  |  |  |  |  |  |
1 to 5 years | 1,105 |  |  | 65 |  |  | — |  |  | 1,170 |  |  | 6.11 | %
5 to 10 years | 1,940 |  |  | 115 |  |  | — |  |  | 2,055 |  |  | 5.67 | %
Over 10 years | 4,010 |  |  | 34 |  |  | — |  |  | 4,044 |  |  | 5.60 | %
U.S. government and agency securities due |  |  |  |  |  |  |  |  |
1 to 5 years | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Mortgage-backed securities |  |  |  |  |  |  |  |  |
Agency pass-through certificates | 73,052 |  |  | 4,579 |  |  | — |  |  | 77,631 |  |  | 5.59 | %
| 80,107 |  |  | 4,793 |  |  | — |  |  | 84,900 |  |  | 5.60 | %
| $ | 2,482,652 |  |  | $ | 84,357 |  |  | $ | (1,016 | ) |  | $ | 2,565,993 |  |  | 5.04 | %
$131,361,000 of available-for-sale securities were sold in 2011, resulting in a gain of $8,147,000. $496,024,000 of available-for-sale securities were sold in 2010, resulting in a net gain of $22,409,000. $18,453,000 of available-for-sale securities were sold in 2009, resulting in a net gain of $1,063,000. Substantially all mortgage-backed securities have contractual due dates that exceed ten years. The following table shows the unrealized gross losses and fair value of securities at September 30, 2011, by length of time that individual securities in each category have been in a continuous loss position. The Company had no securities in a continuous loss position for 12 or more months at September 30, 2011, which consisted of mortgage-backed securities. Management believes that the declines in fair value of these investments are not an other than temporary impairment.
As of September 30, | 2011
| Less than 12 months | 12 months or more | Total
| Unrealized Gross Losses | Fair Value | Unrealized Gross Losses | Fair Value | Unrealized Gross Losses | Fair Value
| (In thousands)
U.S. agency securities | $ | (325 | ) | $ | 9,675 |  | $ | — |  | $ | — |  | $ | (325 | ) | $ | 9,675 |
Agency pass-through certificates | — |  | — |  | — |  | — |  | — |  | — |
| $ | (325 | ) | $ | 9,675 |  | $ | — |  | $ | — |  | $ | (325 | ) | $ | 9,675 |

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- Definition Tabular disclosure of investments in certain debt and equity securities (and certain other trading assets) which include all debt and equity securities (other than those equity securities accounted for under the equity or cost methods of accounting) with readily determinable fair values. Other trading assets include assets that are carried on the balance sheet at fair value and held for trading purposes. A debt security represents a creditor relationship with an enterprise that is in the form of a security. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities (and other trading assets). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 -Topic 320 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 -Topic 320 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 3, 19, 20, 21, 22, 137 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563 + Details
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