MBS And Other Investments (Tables)

12 Months Ended

Sep. 30, 2015

were as follows as of September 30, 2015 and 2014 (dollars in thousands):



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
September 30, 2015
Held to Maturity
Mortgage-backed securities ("MBS"):
U.S. government agencies	$	828	$	23	$	(1	)	$	850
Private label residential	1,081		894		(12		)	1,963
U.S. Treasury and U.S. government agency securities	6,004		77		—			6,081
Total	$	7,913	$	994	$	(13	)	$	8,894

Available for Sale
MBS:
U.S. government agencies	$	387	$	34	$	—		$	421
Mutual funds	1,000		—		(29		)	971
Total	$	1,387	$	34	$	(29	)	$	1,392

September 30, 2014
Held to Maturity
MBS:
U.S. government agencies	$	1,002	$	32	$	(2	)	$	1,032
Private label residential	1,280		965		(7		)	2,238
U.S. government agency securities	3,016		1		(13		)	3,004
Total	$	5,298	$	998	$	(22	)	$	6,274

Available for Sale
MBS:
U.S. government agencies	$	1,801	$	100	$	(2	)	$	1,899
Mutual funds	1,000		—		(42		)	958
Total	$	2,801	$	100	$	(44	)	$	2,857

Unrealized Gain (Loss) on Investments

of September 30, 2015 (dollars in thousands):



	Less Than 12 Months					12 Months or Longer						Total
	Estimated Fair Value		Gross Unrealized Losses		Qty	Estimated Fair Value		Gross Unrealized Losses			Qty	Estimated Fair Value		Gross Unrealized Losses
Held to Maturity
MBS:
U.S. government agencies	$	49	$	—	4	$	63	$	(1	)	5	$	112	$	(1	)
Private label residential	1		—		1	157		(12		)	11	158		(12		)
Total	$	50	$	—	5	$	220	$	(13	)	16	$	270	$	(13	)

Available for Sale
MBS:
U.S. government agencies	$	1	$	—	1	$	48	$	—		2	$	49	$	—
Mutual funds	—		—		—	971		(29		)	1	971		(29		)
Total	$	1	$	—	1	$	1,019	$	(29	)	3	$	1,020	$	(29	)

Held to maturity and available for sale investment securities with unrealized losses were as follows as of September 30, 2014 (dollars in thousands):



	Less Than 12 Months						12 Months or Longer						Total
	Estimated Fair Value		Gross Unrealized Losses			Qty	Estimated Fair Value		Gross Unrealized Losses			Qty	Estimated Fair Value		Gross Unrealized Losses
Held to Maturity
MBS:
U.S. government agencies	$	—	$	—		—	$	76	$	(2	)	8	$	76	$	(2	)
Private label residential	9		—			1	188		(7		)	11	197		(7		)
U.S. government agency securities	2,989		(13		)	1	—		—			—	2,989		(13		)
Total	$	2,998	$	(13	)	2	$	264	$	(9	)	19	$	3,262	$	(22	)

Available for Sale
MBS:
U.S. government agencies	$	19	$	—		1	$	40	$	(2	)	1	$	59	$	(2	)
Mutual funds	—		—			—	958		(42		)	1	958		(42		)
Total	$	19	$	—		1	$	998	$	(44	)	2	$	1,017	$	(44	)

Schedule of Significant Inputs Utilized to Measure Estimate of Credit Loss Component on OTTI Securities

The following table presents a summary of the significant inputs utilized to measure management’s estimates of the credit loss component on OTTI securities as of September 30, 2015, 2014 and 2013:



	Range				Weighted
	Minimum		Maximum		Average
September 30, 2015
Constant prepayment rate	6.00	%	15.00	%	11.49	%
Collateral default rate	0.16	%	14.65	%	6.08	%
Loss severity rate	3.92	%	65.00	%	39.83	%

September 30, 2014
Constant prepayment rate	6.00	%	15.00	%	10.59	%
Collateral default rate	0.01	%	22.34	%	7.41	%
Loss severity rate	0.16	%	75.17	%	45.81	%

September 30, 2013
Constant prepayment rate	6.00	%	15.00	%	12.33	%
Collateral default rate	0.73	%	22.53	%	7.84	%
Loss severity rate	20.48	%	75.02	%	52.69	%

Schedule of Other than Temporary Impairments

The following table presents the OTTI losses for the years ended September 30, 2015, 2014 and 2013 (dollars in thousands):



	2015					2014					2013
	Held To Maturity			Available For Sale		Held To Maturity			Available For Sale		Held To Maturity			Available For Sale
Total (OTTI) recoveries	$	—		$	—	$	(83	)	$	90	$	(13	)	$	(2	)
Adjustment for portion of OTTI recorded as (transferred from) other comprehensive income (before income taxes)(1)	(13		)	—		52			—		(32		)	—
Net (OTTI) recoveries recognized in earnings (2)	$	(13	)	$	—	$	(31	)	$	90	$	(45	)	$	(2	)

________________________


(1)	Represents OTTI related to all other factors.


(2)	Represents OTTI related to credit losses.

Other than Temporary Impairment, Credit Losses Recognized in Earnings

The following table presents a roll forward of the credit loss component of held to maturity and available for sale debt securities that have been written down for OTTI with the credit loss component recognized in earnings for the years ended September 30, 2015, 2014 and 2013 (dollars in thousands):



	2015			2014			2013
Balance, beginning of year	$	1,654		$	2,084		$	2,703

Additions:
Credit losses for which OTTI was not previously recognized	—			2			7
Additional increases to the amount related to credit loss for which OTTI was previously recognized	13			33			45
Subtractions:
Realized losses previously recorded as credit losses	(91		)	(555		)	(671		)
Recovery of prior credit loss	—			90			—
Balance, end of year	$	1,576		$	1,654		$	2,084

Schedule of Contractual Maturities of Debt Securities

The contractual maturities of debt securities at September 30, 2015 are as follows (dollars in thousands). Expected maturities may differ from scheduled maturities due to the prepayment of principal or call provisions.



	Held to Maturity				Available for Sale
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due after one year to five years	$	6,006	$	6,083	$	10	$	10
Due after five years to ten years	22		22		—		—
Due after ten years	1,885		2,789		377		411
Total	$	7,913	$	8,894	$	387	$	421