XML 36 R30.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
SECURITIES (Tables)
 3 Months Ended
Dec. 31, 2019
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 at December 31, 2019 and September 30, 2019 are presented below.

At December 31, 2019
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized (Losses)
 
Fair Value
(Dollars in Thousands)
 
 
 
 
 
 
 
Debt securities AFS
 
 
 
 
 
 
 
SBA securities
$
178,500

 
$
2,446

 
$
(26
)
 
$
180,920

Obligations of states and political subdivisions
858

 
16

 
—

 
874

Non-bank qualified obligations of states and political subdivisions
369,676

 
5,236

 
(923
)
 
373,989

Asset-backed securities
302,426

 
195

 
(5,801
)
 
296,820

Mortgage-backed securities
358,070

 
5,518

 
(1,468
)
 
362,120

Total debt securities AFS
$
1,209,530

 
$
13,411

 
$
(8,218
)
 
$
1,214,723


At September 30, 2019
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized (Losses)
 
Fair Value
(Dollars in Thousands)
 
 
 
 
 
 
 
Debt securities AFS
 
 
 
 
 
 
 
SBA securities
$
182,327

 
$
3,655

 
$
—

 
$
185,982

Obligations 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


At December 31, 2019
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized (Losses)
 
Fair Value
(Dollars in Thousands)
 
 
 
 
 
 
 
Debt securities HTM
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
116,313

 
$
104

 
$
(1,292
)
 
$
115,125

Mortgage-backed securities
6,804

 
2

 
(32
)
 
6,774

Total debt securities HTM
$
123,117

 
$
106

 
$
(1,324
)
 
$
121,899
Securities Held to Maturity
At December 31, 2019
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized (Losses)
 
Fair Value
(Dollars in Thousands)
 
 
 
 
 
 
 
Debt securities HTM
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
116,313

 
$
104

 
$
(1,292
)
 
$
115,125

Mortgage-backed securities
6,804

 
2

 
(32
)
 
6,774

Total debt securities HTM
$
123,117

 
$
106

 
$
(1,324
)
 
$
121,899


At September 30, 2019
Amortized Cost
 
Gross Unrealized Gain
 
Gross Unrealized (Losses)
 
Fair Value
(Dollars in Thousands)
 
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 debt securities HTM
$
134,764

 
$
122

 
$
(1,416
)
 
$
133,470
Debt Securities, Trading, and Equity Securities, FV-NI
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 December 31, 2019 and September 30, 2019, were as follows:
 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At December 31, 2019
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
(Dollars in Thousands)
 
 
 
 
 
 
 
 
 
 
 
Debt securities AFS
 
 
 
 
 
 
 
 
 
 
 
SBA securities
$
13,583

 
$
(26
)
 
$
—

 
$
—

 
$
13,583

 
$
(26
)
Non-bank qualified obligations of states and political subdivisions
60,135

 
(226
)
 
50,431

 
(697
)
 
110,566

 
(923
)
Asset-backed securities
147,594

 
(1,920
)
 
124,114

 
(3,881
)
 
271,708

 
(5,801
)
Mortgage-backed securities
1,704

 
—

 
85,715

 
(1,468
)
 
87,419

 
(1,468
)
Total debt securities AFS
$
223,016

 
$
(2,172
)
 
$
260,260

 
$
(6,046
)
 
$
483,276

 
$
(8,218
)

 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At September 30, 2019
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
(Dollars in Thousands)
 
 
 
 
 
 
 
 
 
 
 
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
)
Schedule of Unrealized Loss on Investments
 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At December 31, 2019
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
(Dollars in Thousands)
 
Debt securities HTM
 
 
 
 
 
 
 
 
 
 
 
Non-bank qualified obligations of states and political subdivisions
$
5,686

 
$
(3
)
 
$
99,199

 
$
(1,289
)
 
$
104,885

 
$
(1,292
)
Mortgage-backed securities
3,525

 
(13
)
 
1,635

 
(19
)
 
5,160

 
(32
)
Total debt securities HTM
$
9,211

 
$
(16
)
 
$
100,834

 
$
(1,308
)
 
$
110,045

 
$
(1,324
)
 
LESS THAN 12 MONTHS
 
OVER 12 MONTHS
 
TOTAL
At September 30, 2019
Fair
Value
 
Unrealized
(Losses)
 
Fair
Value
 
Unrealized
(Losses)
 
Fair Value
 
Unrealized
(Losses)
(Dollars in Thousands)
 
 
 
 
 
 
 
 
 
 
 
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 that allow the issuer to call the security prior to maturity. Expected maturities may differ from contractual maturities in mortgage-backed securities ("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
Amortized Cost
 
Fair Value
At December 31, 2019
(Dollars in Thousands)
 
 
 
Due in one year or less
$
666

 
$
667

Due after one year through five years
16,081

 
16,403

Due after five years through ten years
49,732

 
50,850

Due after ten years
784,981

 
784,683

 
851,460

 
852,603

Mortgage-backed securities
358,070

 
362,120

Total securities AFS, at fair value
$
1,209,530

 
$
1,214,723

At September 30, 2019
Amortized Cost
 
Fair Value
(Dollars in Thousands)
 
 
 
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
Amortized Cost
 
Fair Value
At December 31, 2019
(Dollars in Thousands)
 
 
 
Due after ten years
$
116,313

 
$
115,125

 
116,313

 
115,125

Mortgage-backed securities
6,804

 
6,774

Total securities HTM, at cost
$
123,117

 
$
121,899

At September 30, 2019
Amortized Cost
 
Fair Value
(Dollars in Thousands)
 
 
 
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