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SECURITIES (Tables)

9 Months Ended

Jun. 30, 2021

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.

			Securities Available For Sale
(Dollars in Thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized (Losses)						Fair Value
At June 30, 2021
Debt securities AFS
SBA securities			$	162,922					$	6,263					$	—					$	169,185
Obligations of states and political subdivisions			2,758						8						—						2,766
Non-bank qualified obligations of states and political subdivisions			267,031						7,423						(104)						274,350
Asset-backed securities			405,857						2,760						(895)						407,722
Mortgage-backed securities			1,059,321						9,866						(5,605)						1,063,582
Total debt securities AFS			$	1,897,889					$	26,320					$	(6,604)					$	1,917,605
At September 30, 2020
Debt securities AFS
SBA securities			$	159,722					$	5,391					$	(158)					$	164,955
Obligations 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

Securities Held to Maturity

			Securities Held To Maturity
(Dollars in Thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized (Losses)						Fair Value
At June 30, 2021
Debt securities HTM
Non-bank qualified obligations of states and political subdivisions			$	60,228					$	1,104					$	(2)					$	61,330
Mortgage-backed securities			4,019						72						—						4,091
Total debt securities HTM			$	64,247					$	1,176					$	(2)					$	65,421
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 debt securities HTM			$	92,610					$	1,164					$	(29)					$	93,745

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 loss position, were as follows:

			LESS THAN 12 MONTHS												OVER 12 MONTHS												TOTAL
(Dollars in Thousands)			Fair Value						Gross Unrealized (Losses)						Fair Value						Gross Unrealized (Losses)						Fair Value						Gross Unrealized (Losses)
At June 30, 2021
Debt securities AFS
Non-bank qualified obligations of states and political subdivisions			24,357						(104)						—						—						24,357						(104)
Asset-backed securities			124,158						(234)						94,726						(661)						218,884						(895)
Mortgage-backed securities			695,230						(4,207)						55,415						(1,398)						750,645						(5,605)
Total debt securities AFS			$	843,745					$	(4,545)					$	150,141					$	(2,059)					$	993,886					$	(6,604)

			LESS THAN 12 MONTHS												OVER 12 MONTHS												TOTAL
(Dollars in Thousands)			Fair Value						Gross Unrealized (Losses)						Fair Value						Gross Unrealized (Losses)						Fair Value						Gross 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)

Schedule of Unrealized Loss on Investments, HTM

			LESS THAN 12 MONTHS												OVER 12 MONTHS												TOTAL
(Dollars in Thousands)			Fair Value						Gross Unrealized (Losses)						Fair Value						Gross Unrealized (Losses)						Fair Value						Gross Unrealized (Losses)
At June 30, 2021
Debt securities HTM
Non-bank qualified obligations of states and political subdivisions			2,859						(2)						—						—						2,859						(2)
Total debt securities HTM			$	2,859					$	(2)					$	—					$	—					$	2,859					$	(2)

			LESS THAN 12 MONTHS												OVER 12 MONTHS												TOTAL
(Dollars in Thousands)			Fair Value						Gross Unrealized (Losses)						Fair Value						Gross Unrealized (Losses)						Fair Value						Gross 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)

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.

			At June 30, 2021												At September 30, 2020
(Dollars in Thousands)			Amortized Cost						Fair Value						Amortized Cost						Fair Value
Securities AFS at Fair Value
Due in one year or less			$	245					$	245					$	1,385					$	1,398
Due after one year through five years			17,884						18,467						20,805						21,769
Due after five years through ten years			53,273						55,337						32,441						34,025
Due after ten years			767,166						779,974						749,874						757,303
			838,568						854,023						804,505						814,495
Mortgage-backed securities			1,059,321						1,063,582						439,879						453,607
Total securities AFS, at fair value			$	1,897,889					$	1,917,605					$	1,244,384					$	1,268,102

			At June 30, 2021												At September 30, 2020
(Dollars in Thousands)			Amortized Cost						Fair Value						Amortized Cost						Fair Value
Securities HTM at Fair Value
Due after ten years			$	60,228					$	61,330					$	87,183					$	88,194
			60,228						61,330						87,183						88,194
Mortgage-backed securities			4,019						4,091						5,427						5,551
Total securities HTM, at cost			$	64,247					$	65,421					$	92,610					$	93,745

X

- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

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

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For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

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