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MBS And Other Investments (Tables)
 3 Months Ended
Dec. 31, 2014
Investments [Abstract]  
Marketable Securities
have been classified according to management’s intent and are as follows as of December 31, 2014 and September 30, 2014 (in thousands):
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
December 31, 2014
 
 
 
 
 
 
 
Held to maturity
 
 
 
 
 
 
 
Mortgage-backed securities ("MBS"):
 
 
 
 
 
 
 
U.S. government agencies
$
956

 
$
26

 
$
(1
)
 
$
981

Private label residential
1,229

 
978

 
(8
)
 
2,199

U.S. agency securities
3,016

 
12

 
—

 
3,028

Total
$
5,201

 
$
1,016

 
$
(9
)
 
$
6,208

 
 
 
 
 
 
 
 
Available for sale
 

 
 

 
 

 
 

MBS:
 

 
 

 
 

 
 

U.S. government agencies
$
489

 
$
40

 
$
(1
)
 
$
528

Mutual funds
1,000

 
—

 
(34
)
 
966

Total
$
1,489

 
$
40

 
$
(35
)
 
$
1,494

 
 
 
 
 
 
 
 
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. 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
The following table summarizes the estimated fair value and gross unrealized losses for all securities and the length of time these unrealized losses existed as of December 31, 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
$
—

 
$
—

 
—

 
$
73

 
$
(1
)
 
8

 
$
73

 
$
(1
)
Private label residential
1

 
—

 
1

 
151

 
(8
)
 
11

 
152

 
(8
)
     Total
$
1

 
$
—

 
1

 
$
224

 
$
(9
)
 
19

 
$
225

 
$
(9
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available for sale
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

MBS:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

U.S. government agencies
$
7

 
$
—

 
2

 
$
57

 
$
(1
)
 
2

 
$
64

 
$
(1
)
Mutual funds
—

 
—

 
—

 
966

 
(34
)
 
1

 
966

 
(34
)
     Total
$
7

 
$
—

 
2

 
$
1,023

 
$
(35
)
 
3

 
$
1,030

 
$
(35
)

The following table summarizes the estimated fair value and gross unrealized losses for all securities and the length of time these unrealized losses existed 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. 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 estimate of the credit loss component on OTTI securities as of December 31, 2014 and September 30, 2014:

 
Range
 
Weighted
 
Minimum 
 
Maximum 
 
Average 
December 31, 2014
 
 
 
 
 
Constant prepayment rate
6.00
%
 
15.00
%
 
9.87
%
Collateral default rate
0.01
%
 
16.97
%
 
5.96
%
Loss severity rate
0.15
%
 
60.00
%
 
35.81
%
 
 
 
 
 
 
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
%
Schedule of Other than Temporary Impairments
The following tables present the OTTI for the three months ended December 31, 2014 and 2013 (in thousands):

 
Three Months Ended December 31, 2014
 
Three Months Ended
December 31, 2013
 
Held To
Maturity
 
Available
For Sale
 
Held To
Maturity
 
Available
For Sale
Total OTTI
$
—

 
$
—

 
$
(3
)
 
$
—

Adjustment for portion recorded as other comprehensive
       income (loss) before taxes (1)
—

 
—

 
1

 
—

Net OTTI recognized in earnings (2)
$
—

 
$
—

 
$
(2
)
 
$
—

    
 
 
 
 
 
 
 
 
________________________
(1)
Represents OTTI related to all other factors.
(2)
Represents net recoveries (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 and the remaining impairment loss related to all other factors recognized in other comprehensive income (loss) for the three months ended December 31, 2014 and 2013 (in thousands):
 
Three Months Ended December 31,
 
2014

 
2013

Beginning balance of credit loss
$
1,654

 
$
2,084

Additions:
 

 
 

Credit losses for which OTTI was
not previously recognized
—

 
2

Subtractions:
 

 
 

Realized losses previously recorded
as credit losses
(17
)
 
(40
)
Ending balance of credit loss
$
1,637

 
$
2,046
Schedule of Contractual Maturities of Debt Securities
The contractual maturities of debt securities at December 31, 2014 were as follows (dollars in thousands).  Expected maturities may differ from scheduled maturities as a result of the prepayment of principal or call provisions.
 
Held to Maturity
 
Available for Sale
 
Amortized
Cost
 
Estimated
Fair
Value
 
Amortized
Cost
 
Estimated
Fair
Value
Due within one year
$
—

 
$
—

 
$
—

 
$
—

Due after one year to five years
3,020

 
3,032

 
21

 
17

Due after five to ten years
26

 
26

 
—

 
—

Due after ten years
2,155

 
3,150

 
468

 
511

Total
$
5,201

 
$
6,208

 
$
489

 
$
528