XML 31 R21.htm IDEA: XBRL DOCUMENT v3.19.1

Derivatives and Hedging Activities (Tables)

6 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value, Notional Amount and Balance Sheet Classification

The following tables present the fair value, notional amount and balance sheet classification of derivative assets and liabilities at March 31, 2019 and September 30, 2018:

March 31, 2019	Derivatives Assets								Derivative Liabilities
	Balance Sheet Location	Notional			Fair Value				Balance Sheet Location	Notional			Fair Value
	(In thousands)								(In thousands)
Client swap program	Other assets	$	398,666		$	2,822			Other liabilities	$	398,666		$	2,822
Commercial loan fair value hedges	Other assets	—			—				Other liabilities	95,645			94
Borrowings cash flow hedges	Other assets	700,000			5,600				Other liabilities	—			—
		$	1,098,666		$	8,422				$	494,311		$	2,916

September 30, 2018	Derivatives Assets								Derivative Liabilities
Interest rate contract purpose	Balance Sheet Location	Notional			Fair Value				Balance Sheet Location	Notional			Fair Value
	(In thousands)								(In thousands)
Client swap program	Other assets	$	395,396		$	12,731			Other liabilities	$	395,396		$	12,731
Commercial loan fair value hedges	Other assets	97,927			3,857				Other liabilities	—			—
Borrowings cash flow hedges	Other assets	700,000			22,250				Other liabilities	—			—
		$	1,193,323		$	38,838				$	395,396		$	12,731

Schedule of Fair Value Hedge Accounting on Carrying Value of Hedged Items

The following table presents the impact of fair value hedge accounting on the carrying value of the hedged items (fixed rate commercial loans) at March 31, 2019:

(In thousands)	March 31, 2019
Balance sheet line item in which hedged item is recorded	Carrying value of hedged items			Cumulative gain (loss) fair value hedge adjustment included in carrying amount of hedged items
Loans receivable	$	95,770		$	(94	)
	$	95,770		$	(94	)

Schedule of Impact of Derivative Instruments

The following table presents the impact of derivative instruments (cash flow hedges on borrowings) on AOCI for the periods presented:

(In thousands)	Three Months Ended March 31,
Amount of gain/(loss) recognized in AOCI on derivatives in cash flow hedging relationships	2019
Interest rate contracts:
Pay fixed/receive floating swaps on cash flow hedges of borrowings	$	(6,150	)
Total pre-tax gain/(loss) recognized in AOCI	$	(6,150	)

(In thousands)	Six Months Ended March 31,
Amount of gain/(loss) recognized in AOCI on derivatives in cash flow hedging relationships	2019
Interest rate contracts:
Pay fixed/receive floating swaps on cash flow hedges of borrowings	$	(16,650	)
Total pre-tax gain/(loss) recognized in AOCI	$	(16,650	)

The following table presents the impact of derivative instruments (client swap program) that are not designated in accounting hedges under ASC 815 for the periods presented:

(In thousands)		Three Months Ended March 31,
Derivative instruments	Classification of gain/(loss) recognized in income on derivative instrument	2019
Interest rate contracts:
Pay fixed/receive floating swap	Other noninterest income	$	(6,163	)
Receive fixed/pay floating swap	Other noninterest income	6,163
		$	—

(In thousands)		Six Months Ended March 31,
Derivative instruments	Classification of gain/(loss) recognized in income on derivative instrument	2019
Interest rate contracts:
Pay fixed/receive floating swap	Other noninterest income	$	(15,553	)
Receive fixed/pay floating swap	Other noninterest income	15,553
		$	—

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The following table presents the gains/(losses) on derivative instruments in fair value and cash flow accounting hedging relationships under ASC 815 for the period presented:

Three Months Ended March 31, 2019	Interest income on loans receivable			Interest expense on FHLB advances
	(In thousands)
Interest income/expense, including the effects of fair value and cash flow hedges	$	141,061		$	17,846
Gain/(loss) on fair value hedging relationships:
Interest rate contracts
Amounts related to interest settlements on derivatives	$	58
Recognized on derivatives	(1,600		)
Recognized on hedged items	1,602
Net income/(expense) recognized on fair value hedges	$	60
Gain/(loss) on cash flow hedging relationships:
Interest rate contracts
Amounts related to interest settlements on derivatives				$	(854	)
Amount of derivative gain/(loss) reclassified from AOCI into interest income/expense				—
Net income/(expense) recognized on cash flow hedges				$	(854	)

Six Months Ended March 31, 2019	Interest income on loans receivable			Interest expense on FHLB advances
	(In thousands)
Interest income/expense, including the effects of fair value and cash flow hedges	$	278,126		$	34,737
Gain/(loss) on fair value hedging relationships:
Interest rate contracts
Amounts related to interest settlements on derivatives	$	77
Recognized on derivatives	(3,917		)
Recognized on hedged items	3,881
Net income/(expense) recognized on fair value hedges	$	41
Gain/(loss) on cash flow hedging relationships:
Interest rate contracts
Amounts related to interest settlements on derivatives				$	(1,404	)
Amount of derivative gain/(loss) reclassified from AOCI into interest income/expense				—
Net income/(expense) recognized on cash flow hedges				$	(1,404	)

X

- References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

+ Details

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

X

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

+ Details

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

X

- Definition

Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959

+ Details

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

X

- Definition

Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

+ Details

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