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Investment Securities (Tables)

12 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments by Contractual Maturity Date

The tables below provide detail regarding the amortized cost and fair value of available-for-sale and held-to-maturity investment securities.

September 30, 2024			Amortized Cost						Gross Unrealized												Fair Value						Yield
									Gains						Losses
			($ in thousands)
Available-for-sale securities
U.S. government and agency securities due
Within 1 year			$	4,360					$	4					$	—					$	4,364					5.58		%
1 to 5 years			4,640						2						(124)						4,518						2.82
5 to 10 years			166,070						1,230						—						167,300						5.97
Over 10 years			137,799						394						(171)						138,022						6.29
Asset-backed securities due
1 to 5 years			11,466						—						(284)						11,182						6.04
5 to 10 years			9,631						—						(3)						9,628						6.20
Over 10 years			520,756						600						(2,041)						519,315						6.15
Corporate debt securities due
Within 1 year			45,024						—						(367)						44,657						4.61
1 to 5 years			99,244						977						—						100,221						5.39
5 to 10 years			112,029						—						(10,625)						101,404						3.87
Over 10 years			50,000						—						—						50,000						6.85
Municipal bonds due
5 to 10 years			5,689						—						(243)						5,446						3.00
Over 10 years			29,793						—						(166)						29,627						5.85
Mortgage-backed securities
Agency pass-through certificates			1,420,376						7,324						(40,675)						1,387,025						4.09
			2,616,877						10,531						(54,699)						2,572,709						4.87
Held-to-maturity securities
Mortgage-backed securities
Agency pass-through certificates			436,972						913						(36,839)						401,046						3.18
			436,972						913						(36,839)						401,046						3.18
			$	3,053,849					$	11,444					$	(91,538)					$	2,973,755					4.63		%

 

September 30, 2023			Amortized Cost						Gross Unrealized												Fair Value						Yield
									Gains						Losses
			($ in thousands)
Available-for-sale securities
U.S. government and agency securities due
Within 1 year			$	3,501					$	—					$	(36)					$	3,465					6.06		%
1 to 5 years			18,894						—						(563)						18,331						4.70
5 to 10 years			87,922						177						—						88,099						5.76
Over 10 years			106,340						831						(13)						107,158						5.84
Asset-backed securities due
1 to 5 years			18,579						—						(715)						17,864						6.06
5 to 10 years			36,875						2						(99)						36,778						6.11
Over 10 years			539,911						578						(7,115)						533,374						6.35
Corporate debt securities due
Within 1 year			—						—						—						—						—
1 to 5 years			151,893						895						(1,787)						151,001						5.14
5 to 10 years			113,221						—						(21,700)						91,521						3.87
Municipal bonds due
5 to 10 years			5,720						—						(701)						5,019						3.00
Over 10 years			29,832						361						(550)						29,643						5.85
Mortgage-backed securities
Agency pass-through certificates			1,005,928						66						(93,150)						912,844						3.39
			2,118,616						2,910						(126,429)						1,995,097						4.64
Held-to-maturity securities
Mortgage-backed securities
Agency pass-through certificates			423,586						—						(68,398)						355,188						2.88
			423,586						—						(68,398)						355,188						2.88
			$	2,542,202					$	2,910					$	(194,827)					$	2,350,285					4.35		%

Schedule of Unrealized Losses and Fair Value of Securities

The following tables show the gross unrealized losses and fair value of securities as of September 30, 2024 and September 30, 2023, by length of time that individual securities in each category have been in a continuous loss position. There were 209 and 232 securities with an unrealized loss as of September 30, 2024 and September 30, 2023, respectively. The decline in fair value since purchase is attributable to changes in interest rates. Because the Company does not intend to sell these securities and does not consider it more likely than not that it will be required to sell these securities before the recovery of amortized cost basis, which may be upon maturity, the Company does not consider these investments to be impaired.

September 30, 2024			Less than 12 months												12 months or more												Total
			Unrealized Gross Losses						Fair Value						Unrealized Gross Losses						Fair Value						Unrealized Gross Losses						Fair Value
			(In thousands)
Available-for-sale securities
Corporate debt securities			$	—					$	—					$	(10,993)					$	146,060					$	(10,993)					$	146,060
Municipal bonds			(15)						19,985						(394)						15,088						(409)						35,073
U.S. government and agency securities			—						—						—						—						—						—
Asset-backed securities			(249)						116,173						(2,373)						235,846						(2,622)						352,019
Mortgage-backed securities			(165)						103,283						(40,510)						728,968						(40,675)						832,251
			(429)						239,441						(54,270)						1,125,962						(54,699)						1,365,403
Held-to-maturity securities
Mortgage-backed securities			—						—						(36,839)						348,573						(36,839)						348,573
			$	(429)					$	239,441					$	(91,109)					$	1,474,535					$	(91,538)					$	1,713,976

September 30, 2023			Less than 12 months												12 months or more												Total
			Unrealized Gross Losses						Fair Value						Unrealized Gross Losses						Fair Value						Unrealized Gross Losses						Fair Value
			(In thousands)
Available-for-sale securities
Corporate debt securities			$	—					$	—					$	(23,487)					$	167,452					$	(23,487)					$	167,452
Municipal bonds due			—						—						(1,250)						14,302						(1,250)						14,302
U.S. government and agency securities			(13)						14,917						(599)						21,795						(612)						36,712
Asset-backed securities			(2,142)						86,800						(5,788)						445,454						(7,930)						532,254
Mortgage-backed securities			(2,030)						142,235						(91,120)						744,010						(93,150)						886,245
			(4,185)						243,952						(122,244)						1,393,013						(126,429)						1,636,965
Held-to-maturity securities
Mortgage-backed securities			(15)						1,424						(68,383)						353,764						(68,398)						355,188
			$	(4,200)					$	245,376					$	(190,627)					$	1,746,777					$	(194,827)					$	1,992,153

Schedule of Debt Securities, Held-to-Maturity, Continuous Unrealized Loss Position, Fair Value

The following tables show the gross unrealized losses and fair value of securities as of September 30, 2024 and September 30, 2023, by length of time that individual securities in each category have been in a continuous loss position. There were 209 and 232 securities with an unrealized loss as of September 30, 2024 and September 30, 2023, respectively. The decline in fair value since purchase is attributable to changes in interest rates. Because the Company does not intend to sell these securities and does not consider it more likely than not that it will be required to sell these securities before the recovery of amortized cost basis, which may be upon maturity, the Company does not consider these investments to be impaired.

September 30, 2024			Less than 12 months												12 months or more												Total
			Unrealized Gross Losses						Fair Value						Unrealized Gross Losses						Fair Value						Unrealized Gross Losses						Fair Value
			(In thousands)
Available-for-sale securities
Corporate debt securities			$	—					$	—					$	(10,993)					$	146,060					$	(10,993)					$	146,060
Municipal bonds			(15)						19,985						(394)						15,088						(409)						35,073
U.S. government and agency securities			—						—						—						—						—						—
Asset-backed securities			(249)						116,173						(2,373)						235,846						(2,622)						352,019
Mortgage-backed securities			(165)						103,283						(40,510)						728,968						(40,675)						832,251
			(429)						239,441						(54,270)						1,125,962						(54,699)						1,365,403
Held-to-maturity securities
Mortgage-backed securities			—						—						(36,839)						348,573						(36,839)						348,573
			$	(429)					$	239,441					$	(91,109)					$	1,474,535					$	(91,538)					$	1,713,976

September 30, 2023			Less than 12 months												12 months or more												Total
			Unrealized Gross Losses						Fair Value						Unrealized Gross Losses						Fair Value						Unrealized Gross Losses						Fair Value
			(In thousands)
Available-for-sale securities
Corporate debt securities			$	—					$	—					$	(23,487)					$	167,452					$	(23,487)					$	167,452
Municipal bonds due			—						—						(1,250)						14,302						(1,250)						14,302
U.S. government and agency securities			(13)						14,917						(599)						21,795						(612)						36,712
Asset-backed securities			(2,142)						86,800						(5,788)						445,454						(7,930)						532,254
Mortgage-backed securities			(2,030)						142,235						(91,120)						744,010						(93,150)						886,245
			(4,185)						243,952						(122,244)						1,393,013						(126,429)						1,636,965
Held-to-maturity securities
Mortgage-backed securities			(15)						1,424						(68,383)						353,764						(68,398)						355,188
			$	(4,200)					$	245,376					$	(190,627)					$	1,746,777					$	(194,827)					$	1,992,153

X

- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479081/326-30-55-8

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-6

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-4

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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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Debt Securities, Held-to-Maturity, Continuous Unrealized Loss Position, Fair Value

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