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SECURITIES (Tables) | 12 Months Ended
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Sep. 30, 2020
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 ("AFS") and held to maturity ("HTM") debt securities are presented below.
(Dollars in Thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
At September 30, 2020 |  |  |  |  |  |  |
Debt securities AFS |  |  |  |  |  |  |
SBA securities | $ | 159,722 |  |  | $ | 5,391 |  |  | $ | (158) |  |  | $ | 164,955 |
Obligation of states and political subdivisions | 825 |  |  | 16 |  |  | — |  |  | 841 |
Non-bank qualified obligations of states and political subdivisions | 314,819 |  |  | 8,978 |  |  | (23) |  |  | 323,774 |
Asset-backed securities | 329,139 |  |  | 2,015 |  |  | (6,229) |  |  | 324,925 |
Mortgage-backed securities | 439,879 |  |  | 14,567 |  |  | (839) |  |  | 453,607 |
Total debt securities AFS | $ | 1,244,384 |  |  | $ | 30,967 |  |  | $ | (7,249) |  |  | $ | 1,268,102 |
(Dollars in Thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
At September 30, 2019 |  |  |  |  |  |  |
Debt securities AFS |  |  |  |  |  |  |
SBA securities | $ | 182,327 |  |  | $ | 3,655 |  |  | $ | — |  |  | $ | 185,982 |
Obligation of states and political subdivisions | 858 |  |  | 16 |  |  | — |  |  | 874 |
Non-bank qualified obligations of states and political subdivisions | 396,430 |  |  | 5,030 |  |  | (903) |  |  | 400,557 |
Asset-backed securities | 305,603 |  |  | 262 |  |  | (3,331) |  |  | 302,534 |
Mortgage-backed securities | 378,670 |  |  | 5,731 |  |  | (1,855) |  |  | 382,546 |
Total debt securities AFS | 1,263,888 |  |  | 14,694 |  |  | (6,089) |  |  | 1,272,493 |
Securities Held to Maturity |
(Dollars in Thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
At September 30, 2020 |  |  |  |  |  |  |
Debt securities HTM |  |  |  |  |  |  |
Non-bank qualified obligations of states and political subdivisions | $ | 87,183 |  |  | $ | 1,040 |  |  | $ | (29) |  |  | $ | 88,194 |
Mortgage-backed securities | 5,427 |  |  | 124 |  |  | — |  |  | 5,551 |
Total HTM securities | $ | 92,610 |  |  | $ | 1,164 |  |  | $ | (29) |  |  | $ | 93,745 |
(Dollars in Thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
At September 30, 2019 |  |  |  |  |  |  |
Debt securities HTM |  |  |  |  |  |  |
Non-bank qualified obligations of states and political subdivisions | $ | 127,582 |  |  | $ | 108 |  |  | $ | (1,403) |  |  | $ | 126,287 |
Mortgage-backed securities | 7,182 |  |  | 14 |  |  | (13) |  |  | 7,183 |
Total HTM securities | $ | 134,764 |  |  | $ | 122 |  |  | $ | (1,416) |  |  | $ | 133,470 |
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, were as follows:
| LESS THAN 12 MONTHS |  | OVER 12 MONTHS |  | TOTAL
(Dollars in Thousands) | Fair Value |  | Unrealized (Losses) |  | Fair Value |  | Unrealized (Losses) |  | Fair Value |  | Unrealized (Losses)
At September 30, 2020 |  |  |  |  |  |  |  |  |  |  |
Debt securities AFS |  |  |  |  |  |  |  |  |  |  |
SBA securities | $ | 32,257 |  |  | $ | (102) |  |  | $ | 9,875 |  |  | $ | (56) |  |  | $ | 42,132 |  |  | $ | (158) |
Non-bank qualified obligations of states and political subdivisions | 6,265 |  |  | (6) |  |  | 3,103 |  |  | (17) |  |  | 9,368 |  |  | (23) |
Asset-backed securities | 106,474 |  |  | (1,089) |  |  | 178,686 |  |  | (5,140) |  |  | 285,160 |  |  | (6,229) |
Mortgage-backed securities | 138,338 |  |  | (839) |  |  | — |  |  | — |  |  | 138,338 |  |  | (839) |
Total debt securities AFS | $ | 283,334 |  |  | $ | (2,036) |  |  | $ | 191,664 |  |  | $ | (5,213) |  |  | $ | 474,998 |  |  | $ | (7,249) |
| LESS THAN 12 MONTHS |  | OVER 12 MONTHS |  | TOTAL
(Dollars in Thousands) | Fair Value |  | Unrealized (Losses) |  | Fair Value |  | Unrealized (Losses) |  | Fair Value |  | Unrealized (Losses)
At September 30, 2019 |  |  |  |  |  |  |  |  |  |  |
Debt securities AFS |  |  |  |  |  |  |  |  |  |  |
SBA securities | $ | 10,262 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 10,262 |  |  | $ | — |
Non-bank qualified obligations of states and political subdivisions | 66,326 |  |  | (177) |  |  | 55,428 |  |  | (726) |  |  | 121,754 |  |  | (903) |
Asset-backed securities | 158,176 |  |  | (1,823) |  |  | 93,259 |  |  | (1,508) |  |  | 251,435 |  |  | (3,331) |
Mortgage-backed securities | 1,713 |  |  | (1) |  |  | 89,634 |  |  | (1,854) |  |  | 91,347 |  |  | (1,855) |
Total debt securities AFS | $ | 236,477 |  |  | $ | (2,001) |  |  | $ | 238,321 |  |  | $ | (4,088) |  |  | $ | 474,798 |  |  | $ | (6,089) |
Gross Unrealized Losses and Fair Value of Securities Held to Maturity in Continuous Unrealized Loss Position |
| LESS THAN 12 MONTHS |  | OVER 12 MONTHS |  | TOTAL
(Dollars in Thousands) | Fair Value |  | Unrealized (Losses) |  | Fair Value |  | Unrealized (Losses) |  | Fair Value |  | Unrealized (Losses)
At September 30, 2020 |  |  |  |  |  |  |  |  |  |  |
Debt securities HTM |  |  |  |  |  |  |  |  |  |  |
Non-bank qualified obligations of states and political subdivisions | $ | 7,397 |  |  | $ | (9) |  |  | $ | 3,637 |  |  | $ | (20) |  |  | $ | 11,034 |  |  | $ | (29) |
Total debt securities HTM | $ | 7,397 |  |  | $ | (9) |  |  | $ | 3,637 |  |  | $ | (20) |  |  | $ | 11,034 |  |  | $ | (29) |
| LESS THAN 12 MONTHS |  | OVER 12 MONTHS |  | TOTAL
(Dollars in Thousands) | Fair Value |  | Unrealized (Losses) |  | Fair Value |  | Unrealized (Losses) |  | Fair Value |  | Unrealized (Losses)
At September 30, 2019 |  |  |  |  |  |  |  |  |  |  |
Debt securities HTM |  |  |  |  |  |  |  |  |  |  |
Non-bank qualified obligations of states and political subdivisions | $ | 5,967 |  |  | $ | (6) |  |  | $ | 109,368 |  |  | $ | (1,397) |  |  | $ | 115,335 |  |  | $ | (1,403) |
Mortgage-backed securities | 1,471 |  |  | — |  |  | 1,803 |  |  | (13) |  |  | 3,274 |  |  | (13) |
Total debt securities HTM | $ | 7,438 |  |  | $ | (6) |  |  | $ | 111,171 |  |  | $ | (1,410) |  |  | $ | 118,609 |  |  | $ | (1,416) |
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 MBS because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Therefore, MBS are not included in the maturity categories in the following maturity summary. The expected maturities of certain SBA securities may differ from contractual maturities because the borrowers may have the right to prepay the obligation. However, certain prepayment penalties may apply.
Securities AFS at Fair Value |  |  |
(Dollars in Thousands) | Amortized Cost |  | Fair Value
At September 30, 2020 |  |  |
Due in one year or less | $ | 1,385 |  |  | $ | 1,398 |
Due after one year through five years | 20,805 |  |  | 21,769 |
Due after five years through ten years | 32,441 |  |  | 34,025 |
Due after ten years | 749,874 |  |  | 757,303 |
| 804,505 |  |  | 814,495 |
Mortgage-backed securities | 439,879 |  |  | 453,607 |
Total securities AFS, at fair value | $ | 1,244,384 |  |  | $ | 1,268,102 |
(Dollars in Thousands) | Amortized Cost |  | Fair Value
At September 30, 2019 |  |  |
Due in one year or less | $ | — |  |  | $ | — |
Due after one year through five years | 16,749 |  |  | 17,143 |
Due after five years through ten years | 50,263 |  |  | 51,840 |
Due after ten years | 818,206 |  |  | 820,964 |
| 885,218 |  |  | 889,947 |
Mortgage-backed securities | 378,670 |  |  | 382,546 |
Total securities AFS, at fair value | $ | 1,263,888 |  |  | $ | 1,272,493 |
Securities HTM at Fair Value |  |  |
(Dollars in Thousands) | Amortized Cost |  | Fair Value
At September 30, 2020 |  |  |
Due after ten years | $ | 87,183 |  |  | $ | 88,194 |
| 87,183 |  |  | 88,194 |
Mortgage-backed securities | 5,427 |  |  | 5,551 |
Total securities HTM, at cost | $ | 92,610 |  |  | $ | 93,745 |
(Dollars in Thousands) | Amortized Cost |  | Fair Value
At September 30, 2019 |  |  |
Due after ten years | $ | 127,582 |  |  | $ | 126,287 |
| 127,582 |  |  | 126,287 |
Mortgage-backed securities | 7,182 |  |  | 7,183 |
Total securities HTM, at cost | $ | 134,764 |  |  | $ | 133,470 |
Summary of Activities Related to Sale of Securities Available for Sale | Activity related to the sale of securities available for sale is summarized below.
Fiscal Year ended | 2020 |  | 2019 |  | 2018
(Dollars in Thousands) |  |  |  |  |
Available For Sale |  |  |  |  |
Proceeds from sales | $ | 4,904 |  |  | $ | 755,616 |  |  | $ | 596,758 |
Gross gains on sales | 51 |  |  | 6,006 |  |  | 2,551 |
Gross losses on sales | — |  |  | 5,277 |  |  | 10,728 |
Net gain (loss) on securities AFS | $ | 51 |  |  | $ | 729 |  |  | $ | (8,177) |

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