XML 50 R30.htm IDEA: XBRL DOCUMENT v3.10.0.1

Fair Value Measurements (Tables)

12 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Fair value of assets measured on recurring basis

The following table presents the balance and level in the fair value hierarchy for assets and liabilities that are measured at fair value on a recurring basis.

	September 30, 2018
	Level 1				Level 2				Level 3				Total
	(In thousands)
Available-for-sale securities
Equity securities	$	488			$	—			$	—			$	488
U.S. government and agency securities	—				207,293				—				207,293
Municipal bonds	—				22,978				—				22,978
Corporate debt securities	—				184,695				—				184,695
Mortgage-backed securities
Agency pass-through certificates	—				896,041				—				896,041
Commercial MBS	—				3,462				—				3,462
Total Available-for-sale securities	488				1,314,469				—				1,314,957
Interest rate contracts	—				12,731				—				12,731
Commercial loan hedges	—				3,857				—				3,857
Borrowing hedges	—				22,250				—				22,250
Total Financial Assets	$	488			$	1,353,307			$	—			$	1,353,795
Financial Liabilities
Interest rate contracts	$	—			$	12,731			$	—			$	12,731
Total Financial Liabilities	$	—			$	12,731			$	—			$	12,731

There were no transfers between, into and/or out of Levels 1, 2 or 3 during the year ended September 30, 2018.

	September 30, 2017
	Level 1				Level 2				Level 3				Total
	(In thousands)
Available-for-sale securities
Equity securities	$	522			$	—			$	—			$	522
U.S. government and agency securities	—				211,077				—				211,077
Municipal bonds	—				26,624				—				26,624
Corporate debt securities	—				185,298				—				185,298
Mortgage-backed securities
Agency pass-through certificates	—				834,297				—				834,297
Commercial MBS	—				8,391				—				8,391
Total Available-for-sale securities	522				1,265,687				—				1,266,209
Interest rate contracts	—				1,139				—				1,139
Total Financial Assets	$	522			$	1,266,826			$	—			$	1,267,348
Financial Liabilities
Interest rate contracts	$	—			$	1,139			$	—			$	1,139
Commercial loan hedges	—				174				—				174
Borrowing hedges	—				1,693				—				1,693
Total Financial Liabilities	$	—			$	3,006			$	—			$	3,006

There were no transfers between, into and/or out of Level 1, 2 or 3 during the year ended September 30, 2017.

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, 2018																Three Months Ended September 30, 2018				Twelve Months Ended September 30, 2018
	Level 1				Level  2				Level  3				Total				Total Gains (Losses)
	(In thousands)
Impaired loans (1)	$	—			$	—			$	16,500			$	16,500			$	(707	)		$	(4,800	)
Real estate owned (2)	—				—				7,455				7,455				(126		)		(782		)
Balance at end of period	$	—			$	—			$	23,955			$	23,955			$	(833	)		$	(5,582	)

 ___________________

(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, 2017																Three Months Ended September 30, 2017				Twelve Months Ended September 30, 2017
	Level 1				Level  2				Level  3				Total				Total Gains (Losses)
	(In thousands)
Impaired loans (1)	$	—			$	—			$	9,088			$	9,088			$	(250	)		$	(1,916	)
Real estate owned (2)	—				—				12,662				12,662				(376		)		(1,463		)
Balance at end of period	$	—			$	—			$	21,750			$	21,750			$	(626	)		$	(3,379	)

 ___________________

(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, 2018							September 30, 2017
	Level	Carrying Amount			Estimated Fair Value				Carrying Amount			Estimated Fair Value
		(In thousands)
Financial assets
Cash and cash equivalents	1	$	268,650		$	268,650			$	313,070		$	313,070
Available-for-sale securities:
Equity securities	1	488			488				522			522
U.S. government and agency securities	2	207,293			207,293				211,077			211,077
Municipal bonds	2	22,978			22,978				26,624			26,624
Corporate debt securities	2	184,695			184,695				185,298			185,298
Mortgage-backed securities
Agency pass-through certificates	2	896,041			896,041				834,297			834,297
Commercial MBS	2	3,462			3,462				8,391			8,391
Total available-for-sale securities		1,314,957			1,314,957				1,266,209			1,266,209
Held-to-maturity securities:
Mortgage-backed securities
Agency pass-through certificates	2	1,610,420			1,533,742				1,646,856			1,635,913
Other debt securities		15,000			15,028				—			—
Total held-to-maturity securities		1,625,420			1,548,770				1,646,856			1,635,913
Loans receivable	3	11,477,081			11,556,325				10,882,622			11,247,586
FHLB and FRB stock	2	127,190			127,190				122,990			122,990
Other assets - interest rate contracts	2	12,731			12,731				1,139			1,139
Other assets - commercial loan hedges	2	3,857			3,857				—			—
Other assets - borrowing hedges	2	22,250			22,250				—			—
Financial liabilities
Customer accounts	2	11,387,146			10,882,862				10,835,008			10,411,686
FHLB advances and other borrowings	2	2,330,000			2,316,964				2,225,000			2,266,791
Other liabilities - interest rate contracts	2	12,731			12,731				1,139			1,139
Other liabilities - commercial loan hedges	2	—			—				174			174
Other liabilities - long term borrowing hedges	2	—			—				1,693			1,693

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

		Asset Derivatives												Liability Derivatives
		September 30, 2018						September 30, 2017						September 30, 2018						September 30, 2017
(In thousands)		Balance Sheet		Fair Value				Balance Sheet		Fair Value				Balance Sheet		Fair Value				Balance Sheet		Fair Value
Interest rate contracts		Other assets		$	12,731			Other assets		$	1,139			Other liabilities		$	12,731			Other liabilities		$	1,139
Commercial loan hedges		Other assets		3,857				Other assets		—				Other liabilities		—				Other liabilities		174
Borrowing hedges		Other assets		22,250				Other assets		—				Other liabilities		—				Other liabilities		1,693
				$	38,838					$	1,139					$	12,731					$	3,006

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration