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SECURITIES (Tables)

3 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Securities Available for Sale

The amortized cost, gross unrealized gains and losses and estimated fair values of debt securities available for sale ("AFS") and held to maturity ("HTM") are presented below.

(Dollars in thousands)			Amortized Cost			Gross Unrealized Gains			Gross Unrealized (Losses)			Fair Value
Debt Securities AFS
At December 31, 2024
Corporate securities			$	25,000		$	—		$	(4,000)		$	21,000
SBA securities			34,501			—			(3,972)			30,529
Obligations of states and political subdivisions			200			—			—			200
Non-bank qualified obligations of states and political subdivisions			235,137			24			(34,436)			200,725
Asset-backed securities			184,645			322			(4,037)			180,930
Mortgage-backed securities			1,250,352			—			(203,646)			1,046,706
Total debt securities AFS			$	1,729,835		$	346		$	(250,091)		$	1,480,090
At September 30, 2024
Corporate securities			$	25,000		$	—		$	(5,250)		$	19,750
SBA securities			86,036			—			(4,101)			81,935
Obligations of states and political subdivisions			501			—			(21)			480
Non-bank qualified obligations of states and political subdivisions			246,233			44			(28,287)			217,990
Asset-backed securities			192,979			337			(3,618)			189,698
Mortgage-backed securities			1,393,549			84			(162,265)			1,231,368
Total debt securities AFS			$	1,944,298		$	465		$	(203,542)		$	1,741,221
Debt Securities HTM
At December 31, 2024
Non-bank qualified obligations of states and political subdivisions			$	29,992		$	—		$	(4,297)		$	25,695
Mortgage-backed securities			2,009			—			(273)			1,736
Total debt securities HTM			$	32,001		$	—		$	(4,570)		$	27,431
At September 30, 2024
Non-bank qualified obligations of states and political subdivisions			$	31,060		$	—		$	(2,668)		$	28,392
Mortgage-backed securities			2,032			—			(188)			1,844
Total debt securities HTM			$	33,092		$	—		$	(2,856)		$	30,236

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 December 31, 2024
Corporate securities			$	—		$	—					$	21,000		$	(4,000)					$	21,000		$	(4,000)
SBA securities			—			—						30,528			(3,972)						30,528			(3,972)
Non-bank qualified obligations of states and political subdivisions			—			—						198,747			(34,436)						198,747			(34,436)
Asset-backed securities			48,261			(280)						84,879			(3,757)						133,140			(4,037)
Mortgage-backed securities			15,390			(249)						1,031,316			(203,397)						1,046,706			(203,646)
Total debt securities AFS			$	63,651		$	(529)					$	1,366,470		$	(249,562)					$	1,430,121		$	(250,091)
At September 30, 2024
Corporate securities			$	—		$	—					$	19,750		$	(5,250)					$	19,750		$	(5,250)
SBA securities			—			—						81,935			(4,101)						81,935			(4,101)
Obligations of state and political subdivisions			—			—						280			(21)						280			(21)
Non-bank qualified obligations of states and political subdivisions			—			—						215,956			(28,287)						215,956			(28,287)
Asset-backed securities			52,101			(176)						88,576			(3,442)						140,677			(3,618)
Mortgage-backed securities			2,377			(15)						1,215,781			(162,250)						1,218,158			(162,265)
Total debt securities AFS			$	54,478		$	(191)					$	1,622,278		$	(203,351)					$	1,676,756		$	(203,542)
Debt Securities HTM
At December 31, 2024
Non-bank qualified obligations of states and political subdivisions			$	—		$	—					$	25,695		$	(4,297)					$	25,695		$	(4,297)
Mortgage-backed securities			—			—						1,736			(273)						1,736			(273)
Total debt securities HTM			$	—		$	—					$	27,431		$	(4,570)					$	27,431		$	(4,570)
At September 30, 2024
Non-bank qualified obligations of states and political subdivisions			$	—		$	—					$	28,392		$	(2,668)					$	28,392		$	(2,668)
Mortgage-backed securities			—			—						1,844			(188)						1,844			(188)
Total debt securities HTM			$	—		$	—					$	30,236		$	(2,856)					$	30,236		$	(2,856)

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 which 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 December 31, 2024									At September 30, 2024
Debt Securities AFS			Amortized Cost			Fair Value						Amortized Cost			Fair Value
Due in one year or less			$	200		$	199					$	1,826		$	1,796
Due after one year through five years			6,592			6,372						14,772			14,211
Due after five years through ten years			45,866			39,595						70,894			63,636
Due after ten years			426,825			387,218						463,257			430,210
			479,483			433,384						550,749			509,853
Mortgage-backed securities			1,250,352			1,046,706						1,393,549			1,231,368
Total debt securities AFS			$	1,729,835		$	1,480,090					$	1,944,298		$	1,741,221
Debt Securities HTM
Due after ten years			$	29,992		$	25,695					$	31,060		$	28,392
			29,992			25,695						31,060			28,392
Mortgage-backed securities			2,009			1,736						2,032			1,844
Total debt securities HTM			$	32,001		$	27,431					$	33,092		$	30,236

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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