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Fair Value Measurements (Tables)

12 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Fair value of assets measured on recurring basis

The following table presents the balance and ASC 825 level of assets measured at fair value on a recurring basis.

	September 30, 2016
	Level 1				Level 2				Level 3				Total
	(In thousands)
Available-for-sale securities
Equity securities	$	101,824			$	—			$	—			$	101,824
U.S. government and agency securities	—				259,351				—				259,351
Municipal bonds	—				27,670				—				27,670
Corporate debt securities	—				461,138				—				461,138
Mortgage-backed securities
Agency pass-through certificates	—				993,041				—				993,041
Commercial MBS	—				79,870				—				79,870
Other debt securities	—				—				—				—
Total Available-for-sale securities	101,824				1,821,070				—				1,922,894
Interest rate contracts	—				20,895				—				20,895
Total Financial Assets	$	101,824			$	1,841,965			$	—			$	1,943,789
Financial Liabilities
Interest rate contracts	$	—			$	20,895			$	—			$	20,895
Commercial loan hedges	—				3,312				—				3,312
Long term borrowing hedges	—				31,347				—				31,347
Total Financial Liabilities	$	—			$	55,554			$	—			$	55,554

There were no transfers between, into and/or out of Levels 1, 2 or 3 during the year ended September 30, 2016.

	September 30, 2015
	Level 1				Level 2				Level 3				Total
	(In thousands)
Available-for-sale securities
Equity securities	$	101,952			$	—			$	—			$	101,952
U.S. government and agency securities	—				482,464				—				482,464
Municipal bonds	—				27,123				—				27,123
Corporate debt securities	—				505,800				—				505,800
Mortgage-backed securities
Agency pass-through certificates													—
Commercial MBS	—				1,160,518				—				1,160,518
Other debt securities	—				102,706				—				102,706
Total Available-for-sale securities	101,952				2,278,611				—				2,380,563
Interest rate contracts	—				11,879				—				11,879
Total Financial Assets	$	101,952			$	2,290,490			$	—			$	2,392,442
Financial Liabilities
Interest rate contracts	$	—			$	11,879			$	—			$	11,879
Commercial loan hedges	—				966				—				966
Long term borrowing hedges	—				14,555				—				14,555
Total Financial Liabilities	$	—			$	27,400			$	—			$	27,400

There were no transfers between, into and/or out of Level 1, 2 or 3 during the year ended September 30, 2015.

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

The following table presents the recorded balance of assets that were measured at estimated fair value on a nonrecurring basis for the periods presented, and the total gains (losses) resulting from those fair value adjustments for the periods presented. These estimated fair values are shown gross of estimated selling costs:

	September 30, 2016																Three Months Ended September 30, 2016				Twelve Months Ended September 30, 2016
	Level 1				Level  2				Level  3				Total				Total Gains (Losses)
	(In thousands)
Impaired loans (1)	$	—			$	—			$	17,476			$	17,476			$	(474	)		$	(4,236	)
Real estate owned (2)	—				—				25,190				25,190				(1,003		)		(3,947		)
Balance at end of period	$	—			$	—			$	42,666			$	42,666			$	(1,477	)		$	(8,183	)

 ___________________

(1) The gains (losses) represent remeasurements of collateral-dependent impaired loans.

(2) The gains (losses) represent aggregate writedowns and charge-offs on real estate owned.

	September 30, 2015																Three Months Ended September 30, 2015				Twelve Months Ended September 30, 2015
	Level 1				Level  2				Level  3				Total				Total Gains (Losses)
	(In thousands)
Impaired loans (1)	$	—			$	—			$	6,735			$	6,735			$	(40	)		$	(4,241	)
Real estate owned (2)	—				—				81,448				81,448				(654		)		7,749
Balance at end of period	$	—			$	—			$	88,183			$	88,183			$	(694	)		$	3,508

 ___________________

(1) The gains (losses) represent remeasurements of collateral-dependent impaired loans.

(2) The gains (losses) represent aggregate writedowns and charge-offs on real estate owned.

Fair value of financial instruments by balance sheet grouping

Although management is not aware of any factors that would materially affect the estimated fair value amounts presented below, such amounts have not been comprehensively revalued for purposes of these financial statements since the dates shown, and therefore, estimates of fair value subsequent to those dates may differ significantly from the amounts presented below.

		September 30, 2016							September 30, 2015
	Level	Carrying Amount			Estimated Fair Value				Carrying Amount			Estimated Fair Value
		(In thousands)
Financial assets
Cash and cash equivalents	1	$	450,368		$	450,368			$	284,049		$	284,049
Available-for-sale securities:
Equity securities	1	101,824			101,824				101,952			101,952
U.S. government and agency securities	2	259,351			259,351				482,464			482,464
Municipal bonds	2	27,670			27,670				27,123			27,123
Corporate debt securities	2	461,138			461,138				505,800			505,800
Mortgage-backed securities
Agency pass-through certificates	2	993,041			993,041				1,160,518			1,160,518
Commercial MBS	2	79,870			79,870				102,706			102,706
Total available-for-sale securities		1,922,894			1,922,894				2,380,563			2,380,563
Held-to-maturity securities:
Mortgage-backed securities
Agency pass-through certificates	2	1,417,599			1,441,556				1,643,216			1,637,420
Total held-to-maturity securities		1,417,599			1,441,556				1,643,216			1,637,420
Loans receivable	3	9,910,920			10,414,794				9,170,634			9,667,750
FDIC indemnification asset	3	12,769			12,095				16,275			15,522
FHLB and FRB stock	2	117,205			117,205				107,198			107,198
Other assets - interest rate contracts	2	20,895			20,895				11,879			11,879
Financial liabilities
Customer accounts	2	10,600,852			10,184,321				10,631,703			10,004,290
FHLB advances and other borrowings	2	2,080,000			2,184,671				1,830,000			1,938,384
Other liabilities - interest rate contracts	2	20,895			20,895				11,879			11,879
Other liabilities - commercial loan hedges	2	3,312			3,312				966			966
Other liabilities - long term borrowing hedges	2	31,347			31,347				14,555			14,555

The following table presents the fair value and balance sheet classification of derivatives outstanding.

		Asset Derivatives												Liability Derivatives
		September 30, 2016						September 30, 2015						September 30, 2016						September 30, 2015
(In thousands)		Balance Sheet		Fair Value				Balance Sheet		Fair Value				Balance Sheet		Fair Value				Balance Sheet		Fair Value
Interest rate contracts		Other assets		$	20,895			Other assets		$	11,879			Other liabilities		$	20,895			Other liabilities		$	11,879
Commercial loan hedges		Other assets		—				Other assets		—				Other liabilities		3,312				Other liabilities		966
Long term borrowing hedges		Other assets		—				Other assets		—				Other liabilities		31,347				Other liabilities		14,555
				$	20,895					$	11,879					$	55,554					$	27,400

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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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).

+ References

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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