XML 39 R27.htm IDEA: XBRL DOCUMENT v3.8.0.1
SECURITIES (Tables)
 6 Months Ended
Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Securities Available for Sale
The amortized cost, gross unrealized gains and losses and estimated fair values of available for sale and held to maturity securities at March 31, 2018 and September 30, 2017 are presented below.
Available For Sale
 
 
 
 
 
 
 
At March 31, 2018
AMORTIZED
COST

 
GROSS
UNREALIZED
GAINS

 
GROSS
UNREALIZED
(LOSSES)

 
FAIR
VALUE

 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
Small business administration securities
52,313

 
50

 
(266
)
 
52,097

Obligations of states and political subdivisions
14,508

 
62

 
(173
)
 
14,397

Non-bank qualified obligations of states and political subdivisions
1,219,989

 
4,502

 
(18,125
)
 
1,206,366

Asset-backed securities
142,305

 
2,007

 
(161
)
 
144,151

Mortgage-backed securities
671,649

 
—

 
(16,759
)
 
654,890

Total debt securities
2,100,764

 
6,621

 
(35,484
)
 
2,071,901

Common equities and mutual funds
1,347

 
505

 
(1
)
 
1,851

Total available for sale securities
$
2,102,111

 
$
7,126

 
$
(35,485
)
 
$
2,073,752

At September 30, 2017
AMORTIZED
COST

 
GROSS
UNREALIZED
GAINS

 
GROSS
UNREALIZED
(LOSSES)

 
FAIR
VALUE

 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
Small business administration securities
57,046

 
825

 
—

 
57,871

Non-bank qualified obligations of states and political subdivisions
938,883

 
14,983

 
(3,037
)
 
950,829

Asset-backed securities
94,451

 
2,381

 
—

 
96,832

Mortgage-backed securities
588,918

 
1,259

 
(3,723
)
 
586,454

Total debt securities
1,679,298

 
19,448

 
(6,760
)
 
1,691,986

Common equities and mutual funds
1,009

 
436

 
—

 
1,445

Total available for sale securities
$
1,680,307

 
$
19,884

 
$
(6,760
)
 
$
1,693,431
Securities Held to Maturity


Held to Maturity
 
 
 
 
 
 
 
At March 31, 2018
AMORTIZED
COST

 
GROSS
UNREALIZED
GAINS

 
GROSS
UNREALIZED
(LOSSES)

 
FAIR
VALUE

 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
3,934

 
$
17

 
$
(25
)
 
$
3,926

Non-bank qualified obligations of states and political subdivisions
222,684

 
68

 
(8,189
)
 
214,563

Mortgage-backed securities
8,393

 
—

 
(332
)
 
8,061

Total held to maturity securities
$
235,011

 
$
85

 
$
(8,546
)
 
$
226,550


At September 30, 2017
AMORTIZED
COST

 
GROSS
UNREALIZED
GAINS

 
GROSS
UNREALIZED
(LOSSES)

 
FAIR
VALUE

 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
19,247

 
$
157

 
$
(36
)
 
$
19,368

Non-bank qualified obligations of states and political subdivisions
430,593

 
4,744

 
(2,976
)
 
432,361

Mortgage-backed securities
113,689

 
—

 
(1,233
)
 
112,456

Total held to maturity securities
$
563,529

 
$
4,901

 
$
(4,245
)
 
$
564,185
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 a continuous unrealized loss position at March 31, 2018 and September 30, 2017, were as follows:

Available For Sale
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At March 31, 2018
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Small business administration securities
$
42,418

 
$
(266
)
 
$
—

 
$
—

 
$
42,418

 
$
(266
)
Obligations of states and political subdivisions
8,469

 
(173
)
 
—

 
—

 
8,469

 
(173
)
Non-bank qualified obligations of states and political subdivisions
770,431

 
(17,356
)
 
15,650

 
(769
)
 
786,081

 
(18,125
)
Asset-backed securities
49,063

 
(161
)
 
—

 
—

 
49,063

 
(161
)
Mortgage-backed securities
374,252

 
(6,233
)
 
280,638

 
(10,526
)
 
654,890

 
(16,759
)
Total debt securities
1,244,633

 
(24,189
)
 
296,288

 
(11,295
)
 
1,540,921

 
(35,484
)
Common equities and mutual funds
1,850

 
(1
)
 
—

 
—

 
1,850

 
(1
)
Total available for sale securities
$
1,246,483

 
$
(24,190
)
 
$
296,288

 
$
(11,295
)
 
$
1,542,771

 
$
(35,485
)

 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At September 30, 2017
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
280,900

 
(2,887
)
 
5,853

 
(150
)
 
286,753

 
(3,037
)
Mortgage-backed securities
237,897

 
(1,625
)
 
100,287

 
(2,098
)
 
338,184

 
(3,723
)
Total debt securities
518,797

 
(4,512
)
 
106,140

 
(2,248
)
 
624,937

 
(6,760
)
Total available for sale securities
$
518,797

 
$
(4,512
)
 
$
106,140

 
$
(2,248
)
 
$
624,937

 
$
(6,760
)
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 March 31, 2018
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
1,682

 
$
(4
)
 
$
1,742

 
$
(21
)
 
$
3,424

 
$
(25
)
Non-bank qualified obligations of states and political subdivisions
133,070

 
(4,468
)
 
76,449

 
(3,721
)
 
209,519

 
(8,189
)
Mortgage-backed securities
—

 
—

 
8,061

 
(332
)
 
8,061

 
(332
)
Total held to maturity securities
$
134,752

 
$
(4,472
)
 
$
86,252

 
$
(4,074
)
 
$
221,004

 
$
(8,546
)
 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At September 30, 2017
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair Value
 
Unrealized
(Losses)
 
(Dollars in Thousands)
Debt securities
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
1,364

 
$
(6
)
 
$
4,089

 
$
(30
)
 
$
5,453

 
$
(36
)
Non-bank qualified obligations of states and political subdivisions
202,018

 
(2,783
)
 
6,206

 
(193
)
 
208,224

 
(2,976
)
Mortgage-backed securities
112,456

 
(1,233
)
 
—

 
—

 
112,456

 
(1,233
)
Total held to maturity securities
$
315,838

 
$
(4,022
)
 
$
10,295

 
$
(223
)
 
$
326,133

 
$
(4,245
)
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity
The amortized cost and fair value of debt securities by contractual maturity as of the dates set forth below 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 housing related municipal securities, Small Business Administration and asset-backed 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 March 31, 2018
(Dollars in Thousands)
 
 
 
 
Due in one year or less
$
100

 
$
100

Due after one year through five years
47,402

 
47,956

Due after five years through ten years
436,528

 
438,149

Due after ten years
945,085

 
930,806

 
1,429,115

 
1,417,011

Mortgage-backed securities
671,649

 
654,890

Common equities and mutual funds
1,347

 
1,851

Total available for sale securities
$
2,102,111

 
$
2,073,752

 
AMORTIZED
COST

 
FAIR
VALUE

At September 30, 2017
(Dollars in Thousands)
 
 
 
 
Due in one year or less
$
—

 
$
—

Due after one year through five years
36,586

 
37,674

Due after five years through ten years
347,831

 
358,198

Due after ten years
705,963

 
709,660

 
1,090,380

 
1,105,532

Mortgage-backed securities
588,918

 
586,454

Common equities and mutual funds
1,009

 
1,445

Total available for sale securities
$
1,680,307

 
$
1,693,431

Held To Maturity
AMORTIZED
COST

 
FAIR
VALUE

 
At March 31, 2018
(Dollars in Thousands)
 
 
 
 
Due in one year or less
$
2,267

 
$
2,260

Due after one year through five years
16,641

 
16,572

Due after five years through ten years
22,949

 
22,695

Due after ten years
184,761

 
176,962

 
226,618

 
218,489

Mortgage-backed securities
8,393

 
8,061

Total held to maturity securities
$
235,011

 
$
226,550

 
AMORTIZED
COST

 
FAIR
VALUE

At September 30, 2017
(Dollars in Thousands)
Due in one year or less
$
1,483

 
$
1,480

Due after one year through five years
17,926

 
18,160

Due after five years through ten years
144,996

 
147,832

Due after ten years
285,435

 
284,257

 
449,840

 
451,729

Mortgage-backed securities
113,689

 
112,456

Total held to maturity securities
$
563,529

 
$
564,185