XML 49 R36.htm IDEA: XBRL DOCUMENT v3.6.0.2
SECURITIES (Tables)
 12 Months Ended
Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]  
Securities Available for Sale
Securities available for sale were as follows:
 
Available For Sale
 
 
GROSS

 
GROSS

 
 
 
AMORTIZED

 
UNREALIZED

 
UNREALIZED

 
FAIR

At September 30, 2016
COST

 
GAINS

 
(LOSSES)

 
VALUE

 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
Trust preferred and corporate securities
$
14,935

 
$
—

 
$
(1,957
)
 
$
12,978

Small business administration securities
78,431

 
2,288

 
—

 
80,719

Non-bank qualified obligations of states and political subdivisions
668,628

 
30,141

 
(97
)
 
698,672

Asset-backed securities
117,487

 
73

 
(745
)
 
116,815

Mortgage-backed securities
555,036

 
4,382

 
(478
)
 
558,940

Total debt securities
1,434,517

 
36,884

 
(3,277
)
 
1,468,124

Common equities and mutual funds
755

 
373

 
(3
)
 
1,125

Total available for sale securities
$
1,435,272

 
$
37,257

 
$
(3,280
)
 
$
1,469,249


 
AMORTIZED

 
GROSS
UNREALIZED

 
GROSS
UNREALIZED

 
FAIR

At September 30, 2015
COST

 
GAINS

 
(LOSSES)

 
VALUE

 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
Trust preferred and corporate securities
$
16,199

 
$
8

 
$
(2,263
)
 
$
13,944

Small business administration securities
54,493

 
1,563

 
—

 
56,056

Non-bank qualified obligations of states and political subdivisions
603,165

 
7,240

 
(1,815
)
 
608,590

Mortgage-backed securities
580,165

 
1,283

 
(4,865
)
 
576,583

Total debt securities
1,254,022

 
10,094

 
(8,943
)
 
1,255,173

Common equities and mutual funds
639

 
283

 
(8
)
 
914

Total available for sale securities
$
1,254,661

 
$
10,377

 
$
(8,951
)
 
$
1,256,087
Securities Held to Maturity
Securities held to maturity were as follows:
 
Held to Maturity
 
 
GROSS

 
GROSS

 
 
 
AMORTIZED

 
UNREALIZED

 
UNREALIZED

 
FAIR

At September 30, 2016
COST

 
GAINS

 
(LOSSES)

 
VALUE

 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
20,626

 
$
355

 
$
(44
)
 
$
20,937

Non-bank qualified obligations of states and political subdivisions
465,469

 
11,744

 
(11
)
 
477,202

Mortgage-backed securities
133,758

 
708

 
(31
)
 
134,435

Total held to maturity securities
$
619,853

 
$
12,807

 
$
(86
)
 
$
632,574


 
AMORTIZED

 
GROSS
UNREALIZED

 
GROSS
UNREALIZED

 
FAIR

At September 30, 2015
COST

 
GAINS

 
(LOSSES)

 
VALUE

 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
19,540

 
$
60

 
$
(187
)
 
$
19,413

Non-bank qualified obligations of states and political subdivisions
259,627

 
2,122

 
(419
)
 
261,330

Mortgage-backed securities
66,577

 
—

 
(473
)
 
66,104

Total held to maturity securities
$
345,744

 
$
2,182

 
$
(1,079
)
 
$
346,847
Trust Preferred Securities Included in Available-for-sale Securities
Included in securities available for sale are trust preferred securities as follows:
 
At September 30, 2016
 
 
 
 
 
 
 
 
     
Issuer(1)
Amortized Cost
 
Fair Value
 
Unrealized
Gain (Loss)
 
S&P
Credit Rating
 
Moody's
Credit Rating
 
 (Dollars in Thousands)
Key Corp. Capital I
$
4,987

 
$
4,189

 
$
(798
)
 
BB+
 
Baa2
Huntington Capital Trust II SE
4,981

 
4,077

 
(904
)
 
BB
 
Baa2
PNC Capital Trust
4,968

 
4,712

 
(256
)
 
BBB-
 
Baa1
Total
$
14,936

 
$
12,978

 
$
(1,958
)
 
 
 
  

(1) 
Trust preferred securities are single-issuance.  There are no known deferrals, defaults or excess subordination.

At September 30, 2015
 
 
 
 
 
 
 
 
     
Issuer(1)
Amortized Cost
 
Fair Value
 
Unrealized
Gain (Loss)
 
S&P
Credit Rating
 
Moody's
Credit Rating
 
 (Dollars in Thousands)
Key Corp. Capital I
$
4,986

 
$
4,189

 
$
(797
)
 
BB+
 
Baa2
Huntington Capital Trust II SE
4,979

 
4,076

 
(903
)
 
BB
 
Baa2
PNC Capital Trust
4,965

 
4,402

 
(563
)
 
BBB-
 
Baa1
Total
$
14,930

 
$
12,667

 
$
(2,263
)
 
 
 
  

(1) 
Trust preferred securities are single-issuance.  There are no known deferrals, defaults or excess subordination.
Gross Unrealized Losses and Fair Value of Securities Available for Sale in Continuous Unrealized Loss Position
Gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position at September 30, 2016, and 2015, are as follows:
 
Available For Sale
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At September 30, 2016
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Trust preferred and corporate securities
$
—

 
$
—

 
$
12,978

 
$
(1,957
)
 
$
12,978

 
$
(1,957
)
Non-bank qualified obligations of states and political subdivisions
8,481

 
(58
)
 
2,688

 
(39
)
 
11,169

 
(97
)
Asset-backed securities
89,403

 
(745
)
 
—

 
—

 
89,403

 
(745
)
Mortgage-backed securities
54,065

 
(230
)
 
36,979

 
(248
)
 
91,044

 
(478
)
Total debt securities
151,949

 
(1,033
)
 
52,645

 
(2,244
)
 
204,594

 
(3,277
)
Common equities and mutual funds
—

 
—

 
125

 
(3
)
 
125

 
(3
)
Total available for sale securities
$
151,949

 
$
(1,033
)
 
$
52,770

 
$
(2,247
)
 
$
204,719

 
$
(3,280
)

 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At September 30, 2015
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Trust preferred and corporate securities


 


 


 


 


 


Small Business Administration securities
—

 
—

 
12,667

 
(2,263
)
 
12,667

 
(2,263
)
Non-bank qualified obligations of states and political subdivisions
97,006

 
(860
)
 
42,583

 
(955
)
 
139,589

 
(1,815
)
Mortgage-backed securities
448,988

 
(4,301
)
 
48,079

 
(564
)
 
497,067

 
(4,865
)
Total debt securities
545,994

 
(5,161
)
 
103,329

 
(3,782
)
 
649,323

 
(8,943
)
Common equities and mutual funds
—

 
—

 
121

 
(8
)
 
121

 
(8
)
Total available for sale securities
$
545,994

 
$
(5,161
)
 
$
103,450

 
$
(3,790
)
 
$
649,444

 
$
(8,951
)
Gross Unrealized Losses and Fair Value of Securities Held to Maturity in Continuous Unrealized Loss Position
Held To Maturity
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At September 30, 2016
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
2,909

 
$
(13
)
 
$
2,256

 
$
(31
)
 
$
5,165

 
$
(44
)
Non-bank qualified obligations of states and political subdivisions
1,294

 
(11
)
 
—

 
—

 
1,294

 
(11
)
Mortgage-backed securities
20,061

 
(31
)
 
—

 
—

 
20,061

 
(31
)
Total held to maturity securities
$
24,264

 
$
(55
)
 
$
2,256

 
$
(31
)
 
$
26,520

 
$
(86
)

 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At September 30, 2015
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
5,528

 
$
(34
)
 
$
7,964

 
$
(153
)
 
$
13,492

 
$
(187
)
Non-bank qualified obligations of states and political subdivisions
78,663

 
(365
)
 
4,136

 
(54
)
 
82,799

 
(419
)
Mortgage-backed securities
5,509

 
(43
)
 
60,595

 
(430
)
 
66,104

 
(473
)
Total held to maturity securities
$
89,700

 
$
(442
)
 
$
72,695

 
$
(637
)
 
$
162,395

 
$
(1,079
)
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity
The amortized cost and fair value of debt securities by contractual maturity are shown below.  Certain securities have call features which allow the issuer to call the security prior to maturity.  Expected maturities may differ from contractual maturities in mortgage-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.  Therefore, mortgage-backed securities are not included in the maturity categories in the following maturity summary.  The expected maturities of certain Small Business Administration securities may differ from contractual maturities because the borrowers may have the right to prepay the obligation. However, certain prepayment penalties may apply.
Available For Sale
 
AMORTIZED
COST

 
FAIR
VALUE

At September 30, 2016
(Dollars in Thousands)
 
 
 
 
Due in one year or less
$
—

 
$
—

Due after one year through five years
17,370

 
17,897

Due after five years through ten years
426,034

 
446,771

Due after ten years
436,077

 
444,516

 
879,481

 
909,184

Mortgage-backed securities
555,036

 
558,940

Common equities and mutual funds
755

 
1,125

Total available for sale securities
$
1,435,272

 
$
1,469,249


 
AMORTIZED
COST

 
FAIR
VALUE

At September 30, 2015
(Dollars in Thousands)
 
 
 
 
Due in one year or less
$
—

 
$
—

Due after one year through five years
1,174

 
1,207

Due after five years through ten years
370,087

 
376,394

Due after ten years
302,596

 
300,989

 
673,857

 
678,590

Mortgage-backed securities
580,165

 
576,583

Common equities and mutual funds
639

 
914

Total available for sale securities
$
1,254,661

 
$
1,256,087


Held To Maturity
AMORTIZED
COST

 
FAIR
VALUE

At September 30, 2016
(Dollars in Thousands)
 
 
 
 
Due in one year or less
$
472

 
$
471

Due after one year through five years
12,502

 
12,696

Due after five years through ten years
157,944

 
163,806

Due after ten years
315,177

 
321,166

 
486,095

 
498,139

Mortgage-backed securities
133,758

 
134,435

Total held to maturity securities
$
619,853

 
$
632,574


 
AMORTIZED
COST

 
FAIR
VALUE

At September 30, 2015
(Dollars in Thousands)
 
 
 
 
Due in one year or less
$
95

 
$
96

Due after one year through five years
8,411

 
8,430

Due after five years through ten years
140,145

 
140,505

Due after ten years
130,516

 
131,712

 
279,167

 
280,743

Mortgage-backed securities
66,577

 
66,104

Total held to maturity securities
$
345,744

 
$
346,847
Summary of Activities Related to Sale of Securities Available for Sale
Activities related to the sale of securities available for sale are summarized below.
 
 
2016
 
2015
 
2014
September 30,
(Dollars in Thousands)
 
 
 
 
 
 
Proceeds from sales
$
285,508

 
$
566,371

 
$
166,804

Gross gains on sales
1,459

 
2,753

 
2,292

Gross losses on sales
1,785

 
4,387

 
2,185