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Derivatives and Hedging Activities (Tables)

9 Months Ended

Jun. 30, 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 June 30, 2019 and September 30, 2018.

June 30, 2019	Derivative Assets								Derivative Liabilities
	Balance Sheet Location	Notional			Fair Value				Balance Sheet Location	Notional			Fair Value
	(In thousands)								(In thousands)
Client swap program	Other assets	$	429,310		$	13,912			Other liabilities	$	429,310		$	13,912
Commercial loan fair value hedges	Other assets	—			—				Other liabilities	95,645			2,585
Borrowings cash flow hedges	Other assets	—			—				Other liabilities	700,000			4,442
		$	429,310		$	13,912				$	1,224,955		$	20,939

September 30, 2018	Derivative 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 June 30, 2019.

(In thousands)	June 30, 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	$	93,271		$	(2,585	)
	$	93,271		$	(2,585	)

Schedule of Impact of Derivative Instruments

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 June 30,
Derivative instruments	Classification of gain/(loss) recognized in income on derivative instrument	2019
Interest rate contracts:
Pay fixed/receive floating swap	Other noninterest income	$	(11,091	)
Receive fixed/pay floating swap	Other noninterest income	11,091
		$	—

(In thousands)		Nine Months Ended June 30,
Derivative instruments	Classification of gain/(loss) recognized in income on derivative instrument	2019
Interest rate contracts:
Pay fixed/receive floating swap	Other noninterest income	$	(26,643	)
Receive fixed/pay floating swap	Other noninterest income	26,643
		$	—

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 June 30,
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	$	(10,043	)
Total pre-tax gain/(loss) recognized in AOCI	$	(10,043	)

(In thousands)	Nine Months Ended June 30,
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	$	(26,692	)
Total pre-tax gain/(loss) recognized in AOCI	$	(26,692	)

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 June 30, 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	$	145,490		$	(17,829	)
Gain/(loss) on fair value hedging relationships:
Interest rate contracts
Amounts related to interest settlements on derivatives	$	50
Recognized on derivatives	(2,491		)
Recognized on hedged items	2,489
Net income/(expense) recognized on fair value hedges	$	48
Gain/(loss) on cash flow hedging relationships:
Interest rate contracts
Amounts related to interest settlements on derivatives				$	(817	)
Amount of derivative gain/(loss) reclassified from AOCI into interest income/expense				—
Net income/(expense) recognized on cash flow hedges				$	(817	)

Nine Months Ended June 30, 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	$	423,616		$	(52,566	)
Gain/(loss) on fair value hedging relationships:
Interest rate contracts
Amounts related to interest settlements on derivatives	$	127
Recognized on derivatives	(6,409		)
Recognized on hedged items	6,369
Net income/(expense) recognized on fair value hedges	$	87
Gain/(loss) on cash flow hedging relationships:
Interest rate contracts
Amounts related to interest settlements on derivatives				$	(2,222	)
Amount of derivative gain/(loss) reclassified from AOCI into interest income/expense				—
Net income/(expense) recognized on cash flow hedges				$	(2,222	)

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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
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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.

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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

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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.

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-SubTopic 10
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