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SECURITIES
 6 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
SECURITIES SECURITIES
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 CostGross Unrealized GainsGross Unrealized (Losses)Fair Value
At March 31, 2020
Debt securities AFS    
SBA securities$168,697  $4,569  $(20) $173,246  
Obligations of states and political subdivisions858  14  —  872  
Non-bank qualified obligations of states and political subdivisions341,080  5,587  (497) 346,170  
Asset-backed securities339,135  —  (18,898) 320,237  
Mortgage-backed securities342,735  12,359  —  355,094  
Total debt securities AFS$1,192,505  $22,529  $(19,415) $1,195,619  

(Dollars in Thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair Value
At September 30, 2019
Debt securities AFS    
SBA securities$182,327  $3,655  $—  $185,982  
Obligations of states and political subdivisions858  16  —  874  
Non-bank qualified obligations of states and political subdivisions396,430  5,030  (903) 400,557  
Asset-backed securities 305,603  262  (3,331) 302,534  
Mortgage-backed securities378,670  5,731  (1,855) 382,546  
Total debt securities AFS$1,263,888  $14,694  $(6,089) $1,272,493  
(Dollars in Thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair Value
At March 31, 2020
Debt securities HTM    
Non-bank qualified obligations of states and political subdivisions$108,105  $187  $(767) $107,525  
Mortgage-backed securities6,752  128  —  6,880  
Total debt securities HTM$114,857  $315  $(767) $114,405  

(Dollars in Thousands)Amortized CostGross Unrealized GainGross 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 securities7,182  14  (13) 7,183  
Total debt securities HTM$134,764  $122  $(1,416) $133,470  

Management has implemented processes to identify securities that could potentially have a credit impairment that is other-than-temporary. This process can include, but is not limited to, evaluating the length of time and extent to which the fair value has been less than the amortized cost basis, reviewing available information regarding the financial position of the issuer, interest and dividend payment status, monitoring the rating of the security, monitoring changes in value, and projecting cash flows. Management also determines whether the Company intends to sell a security or whether it is more likely than not the Company will be required to sell the security before the recovery of its amortized cost which, in some cases, may extend to maturity. To the extent the Company determines that a security is deemed to be other-than-temporarily impaired, an impairment loss is recognized.

For all securities considered temporarily impaired, the Company does not intend to sell these securities, and it is not more likely than not that the Company will be required to sell the security before recovery of its amortized cost, which may occur at maturity. The Company believes collection will occur for all principal and interest due on all investments with amortized cost in excess of fair value and considered only temporarily impaired.

GAAP requires that, at acquisition, an enterprise classify debt securities into one of three categories: AFS, HTM or trading. AFS securities are carried at fair value on the consolidated statements of financial condition, and unrealized holding gains and losses are excluded from earnings and recognized as a separate component of equity in accumulated other comprehensive income (“AOCI”). HTM debt securities are measured at amortized cost. Both AFS and HTM are subject to review for other-than-temporary impairment. The Company had no trading securities at March 31, 2020 or September 30, 2019.
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, were as follows:

LESS THAN 12 MONTHSOVER 12 MONTHSTOTAL
(Dollars in Thousands)Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)
At March 31, 2020
Debt securities AFS      
SBA securities$19,536  $(20) $—  $—  $19,536  $(20) 
Non-bank qualified obligations of states and political subdivisions27,484  (37) 46,259  (460) 73,743  (497) 
Asset-backed securities196,361  (7,499) 123,876  (11,399) 320,237  (18,898) 
Total debt securities AFS$243,381  $(7,556) $170,135  $(11,859) $413,516  $(19,415) 

 LESS THAN 12 MONTHSOVER 12 MONTHSTOTAL
(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 subdivisions66,326  (177) 55,428  (726) 121,754  (903) 
Asset-backed securities158,176  (1,823) 93,259  (1,508) 251,435  (3,331) 
Mortgage-backed securities1,713  (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) 

LESS THAN 12 MONTHSOVER 12 MONTHSTOTAL
(Dollars in Thousands)Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)
At March 31, 2020
Debt securities HTM      
Non-bank qualified obligations of states and political subdivisions$—  $—  $92,418  $(767) $92,418  $(767) 
Total debt securities HTM$—  $—  $92,418  $(767) $92,418  $(767) 

 LESS THAN 12 MONTHSOVER 12 MONTHSTOTAL
(Dollars in Thousands)Fair
Value		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)		Fair ValueUnrealized
(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 securities1,471  —  1,803  (13) 3,274  (13) 
Total debt securities HTM$7,438  $(6) $111,171  $(1,410) $118,609  $(1,416) 
At March 31, 2020, the investment portfolio included securities with current unrealized losses that have existed for longer than one year. All of these securities are considered to be acceptable credit risks. Because (i) the declines in fair value were due to changes in market interest rates, not in estimated cash flows, (ii) the Company does not intend or has not made a decision to sell these securities and (iii) it is not more likely than not that the Company will be required to sell the securities before recovery of their amortized cost basis, which may occur at maturity, no other-than-temporary impairment was recorded at March 31, 2020.

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 ValueAmortized CostFair Value
(Dollars in Thousands)
At March 31, 2020  
Due in one year or less$1,130  $1,138  
Due after one year through five years12,689  13,067  
Due after five years through ten years45,180  47,086  
Due after ten years790,771  779,234  
 849,770  840,525  
Mortgage-backed securities342,735  355,094  
Total securities AFS, at fair value$1,192,505  $1,195,619  

(Dollars in Thousands)Amortized CostFair Value
At September 30, 2019
Due in one year or less$—  $—  
Due after one year through five years16,749  17,143  
Due after five years through ten years50,263  51,840  
Due after ten years818,206  820,964  
 885,218  889,947  
Mortgage-backed securities378,670  382,546  
Total securities AFS, at fair value$1,263,888  $1,272,493  

Securities HTM at Fair ValueAmortized CostFair Value
(Dollars in Thousands)
At March 31, 2020  
Due after ten years$108,105  $107,525  
 108,105  107,525  
Mortgage-backed securities6,752  6,880  
Total securities HTM, at cost$114,857  $114,405  
(Dollars in Thousands)Amortized CostFair Value
At September 30, 2019
Due after ten years$127,582  $126,287  
 127,582  126,287  
Mortgage-backed securities7,182  7,183  
Total securities HTM, at cost$134,764  $133,470  

Other investments, at cost, include equity securities without a readily determinable fair value, which are included in other assets on the consolidated statement of financial condition, and shares of stock in the FHLB of Des Moines. Equity securities without a readily determinable fair value totaled $10.5 million at March 31, 2020 and $6.5 million at September 30, 2019. FHLB of Des Moines stock held by MetaBank at March 31, 2020 and September 30, 2019 totaled $29.9 million and $30.9 million, respectively. The decrease in FHLB stock directly correlates with lower short-term borrowings balances at March 31, 2020 compared to September 30, 2019. The Company’s wholly-owned subsidiary, MetaBank, is required by federal law to maintain FHLB stock as a member of FHLB of Des Moines. These equity securities are ‘restricted’ in that they can only be sold back to the respective institution from which they were acquired or another member institution at par. Therefore, FHLB stock is less liquid than other marketable equity securities, and the fair value approximates cost. The Company evaluates impairment for investments held at cost on at least an annual basis based on the ultimate recoverability of the par value. No impairment was recognized for such investments for the six months ended March 31, 2020.