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Note G - Fair Value Measurements (Tables)

9 Months Ended

Jun. 30, 2011

Fair Value Measurements [Abstract]

Fair value of assets measured on recurring basis

	Fair Value at June 30, 2011
	Level 1				Level 2				Level 3				Total
	(In thousands)
Available-for-sale securities
Equity securities	$	—			$	520			$	—			$	520
Obligations of U.S. government	—				275,625				—				275,625
Obligations of states and political subdivisions	—				21,969				—				21,969
Obligations of foreign governments	—				—				—				—
Corporate debt securities	—				10,811				—				10,811
Mortgage-backed securities									—
Agency pass-through certificates	—				2,817,485				—				2,817,485
Other debt securities	—				—				—				—
Balance at end of period	$	—			$	3,126,410			$	—			$	3,126,410

Aggregated balance of assets measured at estimated fair value on a nonrecurring basis and total losses resulting from those fair value adjustments

	Through June 30, 2011																Quarter Ended June 30, 2011				Nine Months Ended June 30, 2011
	Level 1				Level  2				Level  3				Total				Total Losses
	(In thousands)
Impaired loans (1)	$	—			$	—			$	199,547			$	199,547			$	6,586			$	35,890
Real estate held for sale (2)	—				—				120,252				120,252				9,019				34,364
Balance at end of period	$	—			$	—			$	319,799			$	319,799			$	15,605			$	70,254

Fair value of financial instruments by balance sheet grouping

	June 30, 2011								September 30, 2010
	Carrying Amount				Estimated Fair Value				Carrying Amount				Estimated Fair Value
	(In thousands)
Financial assets
Cash and cash equivalents	$	658,160			$	658,160			$	888,622			$	888,622
Available-for-sale securities:
Equity securities	520				520				—				—
Obligations of U.S. government	275,625				275,625				341,006				341,006
Obligations of states and political subdivisions	21,969				21,969				—				—
Obligations of foreign governments	—				—				—				—
Corporate debt securities	10,811				10,811				10,000				10,000
Mortgage-backed securities
Agency pass-through certificates	2,817,485				2,817,485				2,130,087				2,130,087
Other debt securities	—				—				—				—
Total available-for-sale securities	3,126,410				3,126,410				2,481,093				2,481,093
Held-to-maturity securities:
Equity securities	—				—				—				—
Obligations of U.S. government	—				—				—				—
Obligations of states and political subdivisions	1,950				2,048				7,055				7,269
Obligations of foreign governments	—				—				—				—
Corporate debt securities	—				—				—				—
Mortgage-backed securities
Agency pass-through certificates	47,553				50,890				73,052				77,631
Other debt securities	—				—				—				—
Total held-to-maturity securities	49,503				52,938				80,107				84,900
Loans receivable	8,023,611				8,600,812				8,423,703				8,899,937
Covered loans	417,881				412,171				534,474				534,474
FHLB stock	151,753				151,753				151,748				151,748
Financial liabilities
Customer accounts	8,713,690				8,557,383				8,852,540				8,811,009
FHLB advances and other borrowings	2,662,997				2,907,059				2,665,548				2,965,921

Reconciliation of amortized cost to fair value of available-for-sale and held-to-maturity securities

	June 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			$	20			$	—			$	520			4.00	%
1 to 5 years	—				—				—				—				—	%
5 to 10 years	9,300				4,381				—				13,681				10.38	%
Over 10 years	295,974				1,502				(13,563		)		283,913				3.07	%
Corporate bonds due
5 to 10 years	10,000				811				—				10,811				6.00	%
Mortgage-backed securities
Agency pass-through certificates	2,744,328				81,404				(8,247		)		2,817,485				4.79	%
	3,060,102				88,118				(21,810		)		3,126,410				4.65	%
Held-to-maturity securities
Tax-exempt municipal bonds due
1 to 5 years	—				—								—				—	%
5 to 10 years	1,950				98				—				2,048				5.72	%
Over 10 years	—				—								—				—	%
U.S. government and agency securities due
1 to 5 years	—				—								—				—	%
Mortgage-backed securities
Agency pass-through certificates	47,553				3,337				—				50,890				5.31	%
	49,503				3,435				—				52,938				5.33	%
	$	3,109,605			$	91,553			$	(21,810	)		$	3,179,348			4.66	%

	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	%

Schedule of unrealized losses and fair value of securities

	Less than 12 months								12 months or more								Total
	Unrealized Gross Losses				Fair Value				Unrealized Gross Losses				Fair Value				Unrealized Gross Losses				Fair Value
U.S. agency securities	$	(13,563	)		$	261,945			$	—			$	—			$	(13,563	)		$	261,945
Agency pass-through certificates	(8,247		)		779,449				—				—				(8,247		)		779,449
	(21,810		)		$	1,041,394			$	—			$	—			(21,810		)		$	1,041,394

X

- Definition

Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 33
-Subparagraph a, b
-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.

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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-Publisher FASB
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-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.

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Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

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-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.

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-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.

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For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

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