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SECURITIES (Tables)

9 Months Ended

Jun. 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 June 30, 2020
Debt securities AFS
SBA securities			$	165,299					$	5,109					$	(141)					$	170,267
Obligations of states and political subdivisions			826						17						—						843
Non-bank qualified obligations of states and political subdivisions			327,423						4,803						(902)						331,324
Asset-backed securities			334,075						1,575						(12,505)						323,145
Mortgage-backed securities			325,025						13,381						(156)						338,250
Total debt securities AFS			$	1,152,648					$	24,885					$	(13,704)					$	1,163,829

(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
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

Securities Held to Maturity

(Dollars in Thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized (Losses)						Fair Value
At June 30, 2020
Debt securities HTM
Non-bank qualified obligations of states and political subdivisions			$	98,205					$	133					$	(1,016)					$	97,322
Mortgage-backed securities			6,382						128						—						6,510
Total debt securities HTM			$	104,587					$	261					$	(1,016)					$	103,832

(Dollars in Thousands)			Amortized Cost						Gross Unrealized Gain						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 debt securities HTM			$	134,764					$	122					$	(1,416)					$	133,470

Schedule of Unrealized Loss on Investments, AFS

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 MONTHS																		OVER 12 MONTHS																		TOTAL
(Dollars in Thousands)			Fair Value						Unrealized (Losses)						Fair Value						Unrealized (Losses)						Fair Value						Unrealized (Losses)
At June 30, 2020
Debt securities AFS
SBA securities			$	34,402					$	(141)					$	—					$	—					$	34,402					$	(141)
Non-bank qualified obligations of states and political subdivisions			46,805						(279)						40,425						(623)						87,230						(902)
Asset-backed securities			103,915						(2,423)						178,986						(10,082)						282,901						(12,505)
Mortgage-backed securities			32,214						(156)						—						—						32,214						(156)
Total debt securities AFS			$	217,336					$	(2,999)					$	219,411					$	(10,705)					$	436,747					$	(13,704)

			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)

Schedule of Unrealized Loss on Investments, HTM

			LESS THAN 12 MONTHS																		OVER 12 MONTHS																		TOTAL
(Dollars in Thousands)			Fair Value						Unrealized (Losses)						Fair Value						Unrealized (Losses)						Fair Value						Unrealized (Losses)
At June 30, 2020
Debt securities HTM
Non-bank qualified obligations of states and political subdivisions			$	—					$	—					$	83,207					$	(1,016)					$	83,207					$	(1,016)
Total debt securities HTM			$	—					$	—					$	83,207					$	(1,016)					$	83,207					$	(1,016)

			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 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
(Dollars in Thousands)
At June 30, 2020
Due in one year or less			$	1,130					$	1,133
Due after one year through five years			12,688						13,205
Due after five years through ten years			44,891						47,174
Due after ten years			768,914						764,067
			827,623						825,579
Mortgage-backed securities			325,025						338,250
Total securities AFS, at fair value			$	1,152,648					$	1,163,829

(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			Amortized Cost						Fair Value
(Dollars in Thousands)
At June 30, 2020
Due after ten years			$	98,205					$	97,322
			98,205						97,322
Mortgage-backed securities			6,382						6,510
Total securities HTM, at cost			$	104,587					$	103,832

(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

X

- Definition

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=121645371&loc=SL120269825-111563

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=121645371&loc=SL120269820-111563

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27232-111563

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-Section 50
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