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v3.22.2.2

Fair Value Measurements (Tables) | 12 Months Ended
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Sep. 30, 2022
Fair Value Disclosures [Abstract] |
Fair value of assets measured on recurring basis | The following tables present the balance and level in the fair value hierarchy for assets and liabilities that are measured at fair value on a recurring basis (with the exception of those measured using the NAV practical expedient).
| September 30, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (In thousands)
Available-for-sale securities |  |  |  |  |  |  |
U.S. government and agency securities | $ | — |  |  | $ | 39,354 |  |  | $ | — |  |  | $ | 39,354 |
Asset-backed securities | — |  |  | 767,001 |  |  |  |  | 767,001 |
Municipal bonds | — |  |  | 34,962 |  |  | — |  |  | 34,962 |
Corporate debt securities | — |  |  | 313,757 |  |  | — |  |  | 313,757 |
Mortgage-backed securities |  |  |  |  |  |  |
Agency pass-through certificates | — |  |  | 895,963 |  |  | — |  |  | 895,963 |
Total Available-for-sale securities | — |  |  | 2,051,037 |  |  | — |  |  | 2,051,037 |
Client swap program hedges | — |  |  | 67,260 |  |  | — |  |  | 67,260 |
Commercial loan hedges | — |  |  | 2,517 |  |  | — |  |  | 2,517 |
Mortgage loan fair value hedges | — |  |  | 36,765 |  |  | — |  |  | 36,765 |
Borrowings cash flow hedges | — |  |  | 179,945 |  |  | — |  |  | 179,945 |
Total Financial Assets | $ | — |  |  | $ | 2,337,524 |  |  | $ | — |  |  | $ | 2,337,524 |
Financial Liabilities |  |  |  |  |  |  |
Client swap program hedges | $ | — |  |  | $ | 67,260 |  |  | $ | — |  |  | $ | 67,260 |
Total Financial Liabilities | $ | — |  |  | $ | 67,260 |  |  | $ | — |  |  | $ | 67,260 |
| September 30, 2021
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (In thousands)
Available-for-sale securities |  |  |  |  |  |  |
U.S. government and agency securities | $ | — |  |  | $ | 61,779 |  |  | $ | — |  |  | $ | 61,779 |
Asset-backed securities | — |  |  | 1,078,681 |  |  | — |  |  | 1,078,681 |
Municipal bonds | — |  |  | 39,984 |  |  | — |  |  | 39,984 |
Corporate debt securities | — |  |  | 350,988 |  |  | — |  |  | 350,988 |
Mortgage-backed securities |  |  |  |  |  |  |
Agency pass-through certificates | — |  |  | 606,827 |  |  | — |  |  | 606,827 |
Total Available-for-sale securities | — |  |  | 2,138,259 |  |  | — |  |  | 2,138,259 |
Client swap program hedges | — |  |  | 10,983 |  |  | — |  |  | 10,983 |
Borrowings cash flow hedges | — |  |  | 42,442 |  |  | — |  |  | 42,442 |
Total Financial Assets | $ | — |  |  | $ | 2,191,684 |  |  | $ | — |  |  | $ | 2,191,684 |
Financial Liabilities |  |  |  |  |  |  |
Client swap program hedges | $ | — |  |  | $ | 10,983 |  |  | $ | — |  |  | $ | 10,983 |
Commercial loan hedges | — |  |  | 2,177 |  |  | — |  |  | 2,177 |
Mortgage loan fair value hedges | — |  |  | 1,641 |  |  | — |  |  | 1,641 |
Total Financial Liabilities | $ | — |  |  | $ | 14,801 |  |  | $ | — |  |  | $ | 14,801 |
Aggregated balance of assets measured at estimated fair value on a nonrecurring basis and total losses resulting from those fair value adjustments | The following tables present the aggregated balance of assets that were measured at fair value on a nonrecurring basis for the periods presented, and the total gains (losses) resulting from those fair value adjustments during the respective periods. The estimated fair value measurements are shown gross of estimated selling costs.
| September 30, 2022 |  |  |  | Twelve Months Ended September 30, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Total |  |  |  | Total Gains (Losses)
| (In thousands) |  |
Loans receivable (1) | $ | — |  |  | $ | — |  |  | $ | 7,912 |  |  | $ | 7,912 |  |  |  |  | $ | (1,286) |
Real estate owned (2) | — |  |  | — |  |  | 3,128 |  |  | 3,128 |  |  |  |  | (367) |
Balance at end of period | $ | — |  |  | $ | — |  |  | $ | 11,040 |  |  | $ | 11,040 |  |  |  |  | $ | (1,653) |
(1)The gains (losses) represent re-measurements of collateral-dependent impaired loans. (2)The gains (losses) represent aggregate write-downs and charge-offs on real estate owned.
| September 30, 2021 |  |  |  | Twelve Months Ended September 30, 2021
| Level 1 |  | Level 2 |  | Level 3 |  | Total |  |  |  | Total Gains (Losses)
| (In thousands) |  |
Impaired loans (1) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | (105) |
Real estate owned (2) | — |  |  | — |  |  | 1,851 |  |  | 1,851 |  |  |  |  | (420) |
Balance at end of period | $ | — |  |  | $ | — |  |  | $ | 1,851 |  |  | $ | 1,851 |  |  |  |  | $ | (525) |
(1)The gains (losses) represent re-measurements of collateral-dependent impaired loans. (2)The gains (losses) represent aggregate write-downs 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, 2022 |  | September 30, 2021
| Level | Carrying Amount | Estimated Fair Value |  | Carrying Amount | Estimated Fair Value
|  | (In thousands)
Financial assets |  |  |  |  |  |
Cash and cash equivalents | 1 | $ | 683,965 |  | $ | 683,965 |  |  | $ | 2,090,809 |  | $ | 2,090,809 |
Available-for-sale securities: |  |  |  |  |  |
U.S. government and agency securities | 2 | 39,354 |  | 39,354 |  |  | 61,779 |  | 61,779 |
Asset-backed securities | 2 | 767,001 |  | 767,001 |  |  | 1,078,681 |  | 1,078,681 |
Municipal bonds | 2 | 34,962 |  | 34,962 |  |  | 39,984 |  | 39,984 |
Corporate debt securities | 2 | 313,757 |  | 313,757 |  |  | 350,988 |  | 350,988 |
Mortgage-backed securities |  |  |  |  |  |
Agency pass-through certificates | 2 | 895,963 |  | 895,963 |  |  | 606,827 |  | 606,827 |
Total available-for-sale securities |  | 2,051,037 |  | 2,051,037 |  |  | 2,138,259 |  | 2,138,259 |
Held-to-maturity securities: |  |  |  |  |  |
Mortgage-backed securities |  |  |  |  |  |
Agency pass-through certificates | 2 | 463,299 |  | 406,860 |  |  | 366,025 |  | 379,547 |
Total held-to-maturity securities |  | 463,299 |  | 406,860 |  |  | 366,025 |  | 379,547 |
Loans receivable | 3 | 16,113,564 |  | 15,417,635 |  |  | 13,833,570 |  | 14,279,725 |
FHLB and FRB stock | 2 | 95,073 |  | 95,073 |  |  | 102,863 |  | 102,863 |
Other assets - client swap program hedges | 2 | 67,260 |  | 67,260 |  |  | 10,983 |  | 10,983 |
Other assets - commercial loan fair value hedges | 2 | 2,517 |  | 2,517 |  |  | — |  | — |
Other assets - mortgage loan fair value hedges | 2 | 36,765 |  | 36,765 |  |  | — |  | — |
Other assets - borrowings cash flow hedges | 2 | 179,945 |  | 179,945 |  |  | 42,442 |  | 42,442 |
Financial liabilities |  |  |  |  |  |
Time deposits | 2 | 3,338,043 |  | 3,249,169 |  |  | 3,434,087 |  | 3,382,206 |
FHLB advances and other borrowings | 2 | 2,125,000 |  | 1,940,813 |  |  | 1,720,000 |  | 1,692,412 |
Other liabilities - client swap program hedges | 2 | 67,260 |  | 67,260 |  |  | 10,983 |  | 10,983 |
Other liabilities - commercial loan fair value hedges | 2 | — |  | — |  |  | 2,177 |  | 2,177 |
Other liabilities - mortgage loan fair value hedges | 2 | — |  | — |  |  | 1,641 |  | 1,641 |

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- 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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- 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 https://asc.fasb.org/extlink&oid=126976982&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 (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- 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 https://asc.fasb.org/extlink&oid=123594938&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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