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MBS And Other Investments (Tables)
 6 Months Ended
Mar. 31, 2015
Investments [Abstract]  
Marketable Securities
have been classified according to management’s intent and are as follows as of March 31, 2015 and September 30, 2014 (in thousands):
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
March 31, 2015
 
 
 
 
 
 
 
Held to maturity
 
 
 
 
 
 
 
Mortgage-backed securities ("MBS"):
 
 
 
 
 
 
 
U.S. government agencies
$
914

 
$
26

 
$
(1
)
 
$
939

Private label residential
1,176

 
975

 
(7
)
 
2,144

U.S. agency securities
3,016

 
36

 
—

 
3,052

Total
$
5,106

 
$
1,037

 
$
(8
)
 
$
6,135

 
 
 
 
 
 
 
 
Available for sale
 

 
 

 
 

 
 

MBS:
 

 
 

 
 

 
 

U.S. government agencies
$
468

 
$
44

 
$
(1
)
 
$
511

Mutual funds
1,000

 
—

 
(25
)
 
975

Total
$
1,468

 
$
44

 
$
(26
)
 
$
1,486

 
 
 
 
 
 
 
 
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 March 31, 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
$
—

 
$
—

 
—

 
$
70

 
$
(1
)
 
5

 
$
70

 
$
(1
)
Private label residential
1

 
—

 
1

 
146

 
(7
)
 
10

 
147

 
(7
)
     Total
$
1

 
$
—

 
1

 
$
216

 
$
(8
)
 
15

 
$
217

 
$
(8
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available for sale
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

MBS:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

U.S. government agencies
$
4

 
$
—

 
2

 
$
53

 
$
(1
)
 
2

 
$
57

 
$
(1
)
Mutual funds
—

 
—

 
—

 
975

 
(25
)
 
1

 
975

 
(25
)
     Total
$
4

 
$
—

 
2

 
$
1,028

 
$
(26
)
 
3

 
$
1,032

 
$
(26
)

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 March 31, 2015 and September 30, 2014:

 
Range
 
Weighted
 
Minimum 
 
Maximum 
 
Average 
March 31, 2015
 
 
 
 
 
Constant prepayment rate
6.00
%
 
15.00
%
 
9.40
%
Collateral default rate
0.09
%
 
16.68
%
 
6.26
%
Loss severity rate
0.98
%
 
63.18
%
 
41.54
%
 
 
 
 
 
 
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 and six months ended March 31, 2015 and 2014 (in thousands):

 
Three Months Ended March 31, 2015
 
Three Months Ended
March 31, 2014
 
Held To
Maturity
 
Available
For Sale
 
Held To
Maturity
 
Available
For Sale
Total (OTTI) recoveries
$
—

 
$
—

 
$
89

 
$
—

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

 
—

 
—

Net (OTTI) recoveries recognized in earnings (2)
$
(1
)
 
$
—

 
$
89

 
$
—

    
 
Six Months Ended March 31, 2015
 
Six Months Ended
March 31, 2014
 
Held To
Maturity
 
Available
For Sale
 
Held To
Maturity
 
Available
For Sale
Total (OTTI) recoveries
$
—

 
$
—

 
$
86

 
$
—

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

 
1

 
—

Net (OTTI) recoveries recognized in earnings (2)
$
(1
)
 
$
—

 
$
87

 
$
—

 
 
 
 
 
 
 
 
________________________
(1)
Represents (OTTI) recoveries 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 six months ended March 31, 2015 and 2014 (in thousands):
 
Six Months Ended March 31,
 
2015

 
2014

Beginning balance of credit loss
$
1,654

 
$
2,084

Additions:
 

 
 

Credit losses for which OTTI was
not previously recognized
1

 
2

Subtractions:
 
 
 

Realized losses previously recorded
as credit losses
(38
)
 
(492
)
Recovery of prior credit loss
—

 
87

Ending balance of credit loss
$
1,617

 
$
1,681
Schedule of Contractual Maturities of Debt Securities
The contractual maturities of debt securities at March 31, 2015 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
3,019

 
3,055

 
15

 
15

Due after five to ten years
25

 
25

 
—

 
—

Due after ten years
2,062

 
3,055

 
453

 
496

Total
$
5,106

 
$
6,135

 
$
468

 
$
511