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SECURITIES (Tables)

9 Months Ended

Jun. 30, 2024

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
Debt Securities AFS
At June 30, 2024
Corporate securities			$	25,000		$	—		$	(5,375)		$	19,625
SBA securities			90,960			—			(7,389)			83,571
Obligations of states and political subdivisions			502			—			(36)			466
Non-bank qualified obligations of states and political subdivisions			252,583			8			(36,424)			216,167
Asset-backed securities			211,421			418			(4,679)			207,160
Mortgage-backed securities			1,420,440			3			(221,972)			1,198,471
Total debt securities AFS			$	2,000,906		$	429		$	(275,875)		$	1,725,460
At September 30, 2023
Corporate securities			$	25,000		$	—		$	(6,750)		$	18,250
SBA securities			95,549			—			(10,307)			85,242
Obligations of states and political subdivisions			2,368			—			(79)			2,289
Non-bank qualified obligations of states and political subdivisions			269,396			—			(42,673)			226,723
Asset-backed securities			255,384			234			(9,419)			246,199
Mortgage-backed securities			1,495,636			—			(270,111)			1,225,525
Total debt securities AFS			$	2,143,333		$	234		$	(339,339)		$	1,804,228
Debt Securities HTM
At June 30, 2024
Non-bank qualified obligations of states and political subdivisions			$	31,970		$	—		$	(3,521)		$	28,449
Mortgage-backed securities			2,056			—			(268)			1,788
Total debt securities HTM			$	34,026		$	—		$	(3,789)		$	30,237
At September 30, 2023
Non-bank qualified obligations of states and political subdivisions			$	34,415		$	—		$	(4,844)		$	29,571
Mortgage-backed securities			2,176			—			(322)			1,854
Total debt securities HTM			$	36,591		$	—		$	(5,166)		$	31,425

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)
Debt Securities AFS
At June 30, 2024
Corporate securities			$	—		$	—					$	19,625		$	(5,375)					$	19,625		$	(5,375)
SBA securities			—			—						83,571			(7,389)						83,571			(7,389)
Obligations of state and political subdivisions			—			—						466			(36)						466			(36)
Non-bank qualified obligations of states and political subdivisions			—			—						214,139			(36,424)						214,139			(36,424)
Asset-backed securities			—			—						94,518			(4,679)						94,518			(4,679)
Mortgage-backed securities			2,635			(42)						1,194,791			(221,930)						1,197,426			(221,972)
Total debt securities AFS			$	2,635		$	(42)					$	1,607,110		$	(275,833)					$	1,609,745		$	(275,875)
At September 30, 2023
Corporate securities			$	—		$	—					$	18,250		$	(6,750)					$	18,250		$	(6,750)
SBA securities			22,327			(1,919)						62,915			(8,388)						85,242			(10,307)
Obligations of state and political subdivisions			—			—						2,289			(79)						2,289			(79)
Non-bank qualified obligations of states and political subdivisions			5,010			(83)						221,714			(42,590)						226,723			(42,673)
Asset-backed securities			46,528			(224)						115,608			(9,195)						162,136			(9,419)
Mortgage-backed securities			18,311			(944)						1,207,214			(269,167)						1,225,525			(270,111)
Total debt securities AFS			$	92,176		$	(3,170)					$	1,627,990		$	(336,169)					$	1,720,165		$	(339,339)
Debt Securities HTM
At June 30, 2024
Non-bank qualified obligations of states and political subdivisions			$	—		$	—					$	28,449		$	(3,521)					$	28,449		$	(3,521)
Mortgage-backed securities			—			—						1,788			(268)						1,788			(268)
Total debt securities HTM			$	—		$	—					$	30,237		$	(3,789)					$	30,237		$	(3,789)
At September 30, 2023
Non-bank qualified obligations of states and political subdivisions			$	—		$	—					$	29,571		$	(4,844)					$	29,571		$	(4,844)
Mortgage-backed securities			—			—						1,854			(322)						1,854			(322)
Total debt securities HTM			$	—		$	—					$	31,425		$	(5166)					$	31,425		$	(5,166)

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 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.

(Dollars in thousands)			At June 30, 2024									At September 30, 2023
Debt Securities AFS			Amortized Cost			Fair Value						Amortized Cost			Fair Value
Due in one year or less			$	513		$	506					$	5,023		$	4,971
Due after one year through five years			20,007			18,631						11,175			10,292
Due after five years through ten years			72,379			63,601						79,139			66,428
Due after ten years			487,567			444,251						552,360			497,012
			580,466			526,989						647,697			578,703
Mortgage-backed securities			1,420,440			1,198,471						1,495,636			1,225,525
Total debt securities AFS			$	2,000,906		$	1,725,460					$	2,143,333		$	1,804,228
Debt Securities HTM
Due after ten years			$	31,970		$	28,449					$	34,415		$	29,571
			31,970			28,449						34,415			29,571
Mortgage-backed securities			2,056			1,788						2,176			1,854
Total debt securities HTM			$	34,026		$	30,237					$	36,591		$	31,425

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479081/326-30-55-8

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-6

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-4

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Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

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