Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Dec. 31, 2015 | Feb. 04, 2016 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | TFS FINANCIAL CORPORATION | |
Entity Central Index Key | 1,381,668 | |
Current Fiscal Year End Date | --09-30 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2015 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | TFSL | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 288,557,381 |
Consolidated Statements Of Cond
Consolidated Statements Of Condition (unaudited) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
ASSETS | ||
Cash and due from banks | $ 30,787 | $ 22,428 |
Interest-earning cash equivalents | 128,835 | 132,941 |
Cash and cash equivalents | 159,622 | 155,369 |
Investment securities available for sale (amortized cost $593,523 and $582,091, respectively) | 588,406 | 585,053 |
Mortgage loans held for sale, at lower of cost or market (none measured at fair value) | 374 | 116 |
Loans held for investment, net: | ||
Mortgage loans | 11,256,718 | 11,245,557 |
Other consumer loans | 3,273 | 3,468 |
Deferred loan expenses, net | 12,020 | 10,112 |
Allowance for loan losses | (69,241) | (71,554) |
Loans, net | 11,202,770 | 11,187,583 |
Mortgage loan servicing rights, net | 9,621 | 9,988 |
Federal Home Loan Bank stock, at cost | 69,470 | 69,470 |
Real estate owned | 14,299 | 17,492 |
Premises, equipment, and software, net | 59,059 | 57,187 |
Accrued interest receivable | 32,271 | 32,490 |
Bank owned life insurance contracts | 195,890 | 195,861 |
Other assets | 58,857 | 58,277 |
TOTAL ASSETS | 12,390,639 | 12,368,886 |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
Deposits | 8,305,362 | 8,285,858 |
Borrowed funds | 2,164,225 | 2,168,627 |
Borrowers’ advances for insurance and taxes | 81,421 | 86,292 |
Principal, interest, and related escrow owed on loans serviced | 45,495 | 49,493 |
Accrued expenses and other liabilities | 91,691 | 49,246 |
Total liabilities | $ 10,688,194 | $ 10,639,516 |
Commitments and contingent liabilities | ||
Preferred stock, $0.01 par value, 100,000,000 shares authorized, none issued and outstanding | $ 0 | $ 0 |
Common stock, $0.01 par value, 700,000,000 shares authorized; 332,318,750 shares issued; 289,243,649 and 290,882,379 outstanding at December 31, 2015 and September 30, 2015, respectively | 3,323 | 3,323 |
Paid-in capital | 1,709,868 | 1,707,629 |
Treasury stock, at cost; 43,075,101 and 41,436,371 shares at December 31, 2015 and September 30, 2015, respectively | (585,958) | (548,557) |
Unallocated ESOP shares | (60,667) | (61,751) |
Retained earnings—substantially restricted | 653,891 | 641,791 |
Accumulated other comprehensive loss | (18,012) | (13,065) |
Total shareholders’ equity | 1,702,445 | 1,729,370 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ 12,390,639 | $ 12,368,886 |
Consolidated Statements Of Con3
Consolidated Statements Of Condition (unaudited) (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Available for sale, amortized cost | $ 593,523 | $ 582,091 |
Mortgage loans held for sale | $ 0 | $ 0 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 100,000,000 | 100,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 700,000,000 | 700,000,000 |
Common stock, shares issued | 332,318,750 | 332,318,750 |
Common stock, shares outstanding | 289,243,649 | 290,882,379 |
Treasury stock, shares | 43,075,101 | 41,436,371 |
Consolidated Statements Of Inco
Consolidated Statements Of Income (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
INTEREST AND DIVIDEND INCOME: | ||
Loans, including fees | $ 93,174 | $ 91,835 |
Investment securities available for sale | 2,471 | 2,555 |
Other interest and dividend earning assets | 786 | 1,346 |
Total interest and dividend income | 96,431 | 95,736 |
INTEREST EXPENSE: | ||
Deposits | 22,439 | 24,476 |
Borrowed funds | 6,351 | 4,124 |
Total interest expense | 28,790 | 28,600 |
NET INTEREST INCOME | 67,641 | 67,136 |
PROVISION FOR LOAN LOSSES | (1,000) | 2,000 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 68,641 | 65,136 |
NON-INTEREST INCOME: | ||
Fees and service charges, net of amortization | 1,969 | 2,158 |
Net gain on the sale of loans | 825 | 698 |
Increase in and death benefits from bank owned life insurance contracts | 2,343 | 1,901 |
Other | 980 | 1,196 |
Total non-interest income | 6,117 | 5,953 |
NON-INTEREST EXPENSE: | ||
Salaries and employee benefits | 24,948 | 23,565 |
Marketing services | 4,321 | 4,500 |
Office property, equipment and software | 5,763 | 5,393 |
Federal insurance premium and assessments | 2,829 | 2,461 |
State franchise tax | 1,448 | 1,403 |
Real estate owned expense, net | 2,161 | 2,700 |
Other operating expenses | 6,163 | 5,951 |
Total non-interest expense | 47,633 | 45,973 |
INCOME BEFORE INCOME TAXES | 27,125 | 25,116 |
INCOME TAX EXPENSE | 9,274 | 8,472 |
NET INCOME | $ 17,851 | $ 16,644 |
Earnings per share—basic and diluted | $ 0.06 | $ 0.06 |
Weighted average shares outstanding | ||
Basic | 283,834,670 | 293,797,138 |
Diluted | 286,340,053 | 296,128,813 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 17,851 | $ 16,644 |
Other comprehensive income (loss), net of tax: | ||
Net change in unrealized (loss) gain on securities available for sale | (5,252) | 433 |
Net change in cash flow hedges | 55 | 0 |
Change in pension obligation | 250 | 124 |
Other comprehensive (loss) income | (4,947) | 557 |
Total comprehensive income | $ 12,904 | $ 17,201 |
Consolidated Statements Of Shar
Consolidated Statements Of Shareholders' Equity (unaudited) - USD ($) $ in Thousands | Total | Common Stock | Paid-In Capital | Treasury Stock | Unallocated Common Stock Held By ESOP | Retained Earnings | Accumulated other comprehensive income (loss) |
Balance at Sep. 30, 2014 | $ 1,839,457 | $ 3,323 | $ 1,702,441 | $ (379,109) | $ (66,084) | $ 589,678 | $ (10,792) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 16,644 | 16,644 | |||||
Other comprehensive (loss) income, net of tax | 557 | 557 | |||||
ESOP shares allocated or committed to be released | 1,603 | 520 | 1,083 | ||||
Compensation costs for stock-based plans | 2,099 | 2,099 | |||||
Excess tax effect from stock-based compensation | 945 | 945 | |||||
Purchase of treasury stock | (41,555) | (41,555) | |||||
Treasury stock allocated to restricted stock plan | (2,346) | (4,023) | 3,086 | (1,409) | |||
Dividends paid to common shareholders | (4,711) | (4,711) | |||||
Balance at Dec. 31, 2014 | 1,812,693 | 3,323 | 1,701,982 | (417,578) | (65,001) | 600,202 | (10,235) |
Balance at Sep. 30, 2015 | 1,729,370 | 3,323 | 1,707,629 | (548,557) | (61,751) | 641,791 | (13,065) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 17,851 | 17,851 | |||||
Other comprehensive (loss) income, net of tax | (4,947) | (4,947) | |||||
ESOP shares allocated or committed to be released | 1,987 | 903 | 1,084 | ||||
Compensation costs for stock-based plans | 1,708 | 1,708 | |||||
Excess tax effect from stock-based compensation | 1,678 | 1,678 | |||||
Purchase of treasury stock | (35,229) | (35,229) | |||||
Treasury stock allocated to restricted stock plan | (4,222) | (2,050) | (2,172) | 0 | |||
Dividends paid to common shareholders | (5,751) | (5,751) | |||||
Balance at Dec. 31, 2015 | $ 1,702,445 | $ 3,323 | $ 1,709,868 | $ (585,958) | $ (60,667) | $ 653,891 | $ (18,012) |
Consolidated Statements Of Sha7
Consolidated Statements Of Shareholders' Equity (unaudited) Consolidated Statements Of Shareholders' Equity (unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Purchase of treasury stock (in shares) | 1,920,000 | 2,802,500 |
Dividends paid to common shareholders (per common share) | $ 0.10 | $ 0.07 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 17,851 | $ 16,644 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
ESOP and stock-based compensation expense | 3,695 | 3,702 |
Depreciation and amortization | 4,222 | 3,865 |
Deferred income tax expense | 10 | 0 |
Provision for loan losses | (1,000) | 2,000 |
Net gain on the sale of loans | (825) | (698) |
Other net losses | 586 | 890 |
Principal repayments on and proceeds from sales of loans held for sale | 3,480 | 3,842 |
Loans originated for sale | (3,673) | (4,748) |
Increase in bank owned life insurance contracts | (43) | (1,628) |
Net decrease in interest receivable and other assets | 2,299 | 2,179 |
Net increase in accrued expenses and other liabilities | 42,739 | 45,418 |
Other | (12) | 118 |
Net cash provided by operating activities | 69,329 | 71,584 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Loans originated | (548,729) | (611,208) |
Principal repayments on loans | 505,786 | 446,149 |
Proceeds from principal repayments and maturities of: | ||
Securities available for sale | 37,825 | 33,679 |
Proceeds from sale of: | ||
Loans | 24,571 | 20,385 |
Real estate owned | 6,027 | 5,691 |
Purchases of: | ||
FHLB stock | 0 | (23,675) |
Securities available for sale | (50,681) | (45,853) |
Premises and equipment | (2,783) | (1,160) |
Other | 24 | 295 |
Net cash used in investing activities | (27,960) | (175,697) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase (decrease) in deposits | 19,504 | (114,664) |
Net decrease in borrowers’ advances for insurance and taxes | (4,871) | (1,912) |
Net decrease in principal and interest owed on loans serviced | (3,998) | (5,093) |
Net (decrease) increase in short term borrowed funds | (29,829) | 224,284 |
Proceeds from long term borrowed funds | 30,000 | 150,294 |
Repayment of long term borrowed funds | (4,573) | (8,512) |
Purchase of treasury shares | (35,054) | (39,755) |
Excess tax benefit related to stock-based compensation | 1,678 | 945 |
Acquisition of treasury shares through net settlement of stock benefit plans compensation | (4,222) | (2,346) |
Dividends paid to common shareholders | (5,751) | (4,711) |
Net cash (used in) provided by financing activities | (37,116) | 198,530 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 4,253 | 94,417 |
CASH AND CASH EQUIVALENTS—Beginning of period | 155,369 | 181,403 |
CASH AND CASH EQUIVALENTS—End of period | 159,622 | 275,820 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Cash paid for interest on deposits | 22,380 | 24,543 |
Cash paid for interest on borrowed funds | 6,179 | 3,839 |
Cash paid for income taxes | 9,711 | 80 |
SUPPLEMENTAL SCHEDULES OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
Transfer of loans to real estate owned | 3,420 | 6,807 |
Transfer of loans from held for investment to held for sale | 24,196 | 15,545 |
Treasury stock issued for stock benefit plans | $ 2,050 | $ 0 |
Basis Of Presentation
Basis Of Presentation | 3 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis Of Presentation | BASIS OF PRESENTATION TFS Financial Corporation, a federally chartered stock holding company, conducts its principal activities through its wholly owned subsidiaries. The principal line of business of the Company is retail consumer banking, including mortgage lending, deposit gathering, and, to a much lesser extent, other financial services. On December 31, 2015 , approximately 79% of the Company’s outstanding shares were owned by a federally chartered mutual holding company, Third Federal Savings and Loan Association of Cleveland, MHC. The thrift subsidiary of TFS Financial Corporation is Third Federal Savings and Loan Association of Cleveland. The accounting and reporting policies followed by the Company conform in all material respects to accounting principles generally accepted in the United States of America and to general practices in the financial services industry. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. The allowance for loan losses, the valuation of mortgage loan servicing rights, the valuation of deferred tax assets, and the determination of pension obligations and stock-based compensation are particularly subject to change. The unaudited interim consolidated financial statements were prepared without an audit and reflect all adjustments of a normal recurring nature which, in the opinion of management, are necessary to present fairly the consolidated financial condition of the Company at December 31, 2015 , and its results of operations and cash flows for the periods presented. Such adjustments are the only adjustments reflected in the unaudited interim financial statements. In accordance with Regulation S-X for interim financial information, these statements do not include certain information and footnote disclosures required for complete audited financial statements. The Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2015 contains consolidated financial statements and related notes, which should be read in conjunction with the accompanying interim consolidated financial statements. The results of operations for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for the fiscal year ending September 30, 2016 or for any other period. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | EARNINGS PER SHARE Basic earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period. Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares. For purposes of computing earnings per share amounts, outstanding shares include shares held by the public, shares held by the ESOP that have been allocated to participants or committed to be released for allocation to participants, the 227,119,132 shares held by Third Federal Savings, MHC, and, for purposes of computing dilutive earnings per share, stock options and restricted stock units with a dilutive impact. Unvested shares awarded pursuant to the Company's restricted stock plans are treated as participating securities in the computation of EPS pursuant to the two-class method as they contain nonforfeitable rights to dividends. The two-class method is an earnings allocation that determines EPS for each class of common stock and participating security. At December 31, 2015 and 2014 , respectively, the ESOP held 6,066,756 and 6,500,096 shares that were neither allocated to participants nor committed to be released to participants. The following is a summary of the Company's earnings per share calculations. For the Three Months Ended December 31, 2015 2014 Income Shares Per share amount Income Shares Per share amount (Dollars in thousands, except per share data) Net income $ 17,851 $ 16,644 Less: income allocated to restricted stock units 179 147 Basic earnings per share: Income available to common shareholders $ 17,672 283,834,670 $ 0.06 $ 16,497 293,797,138 $ 0.06 Diluted earnings per share: Effect of dilutive potential common shares 2,505,383 2,331,675 Income available to common shareholders $ 17,672 286,340,053 $ 0.06 $ 16,497 296,128,813 $ 0.06 The following is a summary of outstanding stock options and restricted stock units that are excluded from the computation of diluted earnings per share because their inclusion would be anti-dilutive. For the Three Months Ended December 31, 2015 2014 Options to purchase shares 393,500 961,200 Restricted stock units 51,200 208,000 |
Investment Securities
Investment Securities | 3 Months Ended |
Dec. 31, 2015 | |
Investments [Abstract] | |
Investment Securities | INVESTMENT SECURITIES Investments available for sale are summarized as follows: December 31, 2015 Amortized Cost Gross Unrealized Fair Value Gains Losses REMICs $ 583,788 $ 314 $ (5,955 ) $ 578,147 Fannie Mae certificates 9,735 597 (73 ) 10,259 Total $ 593,523 $ 911 $ (6,028 ) $ 588,406 September 30, 2015 Amortized Gross Fair Gains Losses U.S. government and agency obligations $ 2,000 $ 2 $ — $ 2,002 REMICs 570,194 3,135 (878 ) 572,451 Fannie Mae certificates 9,897 703 — 10,600 Total $ 582,091 $ 3,840 $ (878 ) $ 585,053 Gross unrealized losses and the estimated fair value of REMICs, aggregated by the length of time the securities have been in a continuous loss position, at December 31, 2015 and September 30, 2015 , were as follows: December 31, 2015 Less Than 12 Months 12 Months or More Total Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Available for sale— REMICs $ 443,025 $ 4,161 $ 85,794 $ 1,794 $ 528,819 $ 5,955 Fannie Mae certificates 4,764 73 — — 4,764 73 Total $ 447,789 $ 4,234 $ 85,794 $ 1,794 $ 533,583 $ 6,028 September 30, 2015 Less Than 12 Months 12 Months or More Total Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Available for sale— REMICs $ 86,754 $ 299 $ 80,639 $ 579 $ 167,393 $ 878 Fannie Mae certificates — — — — — — Total $ 86,754 $ 299 $ 80,639 $ 579 $ 167,393 $ 878 The unrealized losses on investment securities were attributable to interest rate increases. The contractual terms of U.S. government and agency obligations do not permit the issuer to settle the security at a price less than the par value of the investment. The contractual cash flows of mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. REMICs are issued by or backed by securities issued by these governmental agencies. It is expected that the securities would not be settled at a price substantially less than the amortized cost of the investment. The U.S. Treasury Department established financing agreements in 2008 to ensure Fannie Mae and Freddie Mac meet their obligations to holders of mortgage-backed securities that they have issued or guaranteed. Since the decline in value is attributable to changes in interest rates and not credit quality and because the Association has neither the intent to sell the securities nor is it more likely than not the Association will be required to sell the securities for the time periods necessary to recover the amortized cost, these investments are not considered other-than-temporarily impaired. At December 31, 2015 , the Association did not have U.S. government and agency obligations available for sale. At September 30, 2015 , the amortized cost and fair value of U.S. government and agency obligations, then categorized as due within one year, were $2,000 and $2,002 , respectively. |
Loans And Allowance For Loan Lo
Loans And Allowance For Loan Losses | 3 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Loans And Allowance For Loan Losses | LOANS AND ALLOWANCE FOR LOAN LOSSES Loans held for investment consist of the following: December 31, September 30, Real estate loans: Residential Core $ 9,504,202 $ 9,462,939 Residential Home Today 131,657 135,746 Home equity loans and lines of credit 1,597,289 1,625,239 Construction 55,723 55,421 Real estate loans 11,288,871 11,279,345 Other consumer loans 3,273 3,468 Add (deduct): Deferred loan expenses, net 12,020 10,112 Loans in process (32,153 ) (33,788 ) Allowance for loan losses (69,241 ) (71,554 ) Loans held for investment, net $ 11,202,770 $ 11,187,583 At December 31, 2015 and September 30, 2015 , respectively, $374 and $116 of loans were classified as mortgage loans held for sale. A large concentration of the Company’s lending is in Ohio and Florida. As of December 31, 2015 and September 30, 2015 , the percentages of residential real estate loans held in Ohio and Florida were 63% and 17% , respectively, at each date. As of December 31, 2015 and September 30, 2015 , home equity loans and lines of credit were concentrated in Ohio ( 39% ), Florida ( 26% ), and California ( 13% ) at each date. Although somewhat dissipating during the last two years, the lingering effects of the adverse economic conditions and market for real estate in Ohio and Florida that arose in connection with the financial crisis of 2008, continue to unfavorably impact the ability of borrowers in those areas to repay their loans. Home Today began as an affordable housing program targeted to benefit low- and moderate-income home buyers. Through this program the Association provided the majority of loans to borrowers who would not otherwise qualify for the Association’s loan products, generally because of low credit scores. Although the credit profiles of borrowers in the Home Today program might be described as sub-prime, Home Today loans generally contain the same features as loans offered to our Core borrowers. Borrowers with a Home Today loan complete financial management education and counseling and were referred to the Association by a sponsoring organization with which the Association partnered as part of the program. Because the Association applied less stringent underwriting and credit standards to the majority of Home Today loans, loans originated under the program have greater credit risk than its traditional residential real estate mortgage loans. While effective March 27, 2009, the Home Today underwriting guidelines were changed to be substantially the same as the Association’s traditional first mortgage product and the program focused on financial education and down payment assistance. The majority of loans in this program were originated prior to that date. As of December 31, 2015 and September 30, 2015 , the principal balance of Home Today loans originated prior to March 27, 2009 was $128,617 and $132,762 , respectively. The Association does not offer, and has not offered, loan products frequently considered to be designed to target sub-prime borrowers containing features such as higher fees or higher rates, negative amortization, a loan-to-value ratio greater than 100%, or pay option adjustable-rate mortgages. An age analysis of the recorded investment in loan receivables that are past due at December 31, 2015 and September 30, 2015 is summarized in the following tables. When a loan is more than one month past due on its scheduled payments, the loan is considered 30 days or more past due. Balances are adjusted for deferred loan fees or expenses and any applicable loans-in-process. 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total December 31, 2015 Real estate loans: Residential Core $ 6,998 $ 3,206 $ 21,903 $ 32,107 $ 9,476,307 $ 9,508,414 Residential Home Today 5,121 2,798 9,063 16,982 112,997 129,979 Home equity loans and lines of credit 4,337 2,193 6,046 12,576 1,594,133 1,606,709 Construction — — — — 23,636 23,636 Total real estate loans 16,456 8,197 37,012 61,665 11,207,073 11,268,738 Other consumer loans — — — — 3,273 3,273 Total $ 16,456 $ 8,197 $ 37,012 $ 61,665 $ 11,210,346 $ 11,272,011 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total September 30, 2015 Real estate loans: Residential Core 8,242 $ 4,323 $ 23,306 $ 35,871 $ 9,430,189 $ 9,466,060 Residential Home Today 5,866 2,507 9,068 17,441 116,535 133,976 Home equity loans and lines of credit 5,012 1,162 5,575 11,749 1,622,683 1,634,432 Construction — — 427 427 20,774 21,201 Total real estate loans 19,120 7,992 38,376 65,488 11,190,181 11,255,669 Other consumer loans — — — — 3,468 3,468 Total $ 19,120 $ 7,992 $ 38,376 $ 65,488 $ 11,193,649 $ 11,259,137 At December 31, 2015 and September 30, 2015 , real estate loans include $26,345 and $28,864 , respectively, of loans that were in the process of foreclosure. The recorded investment of loan receivables in non-accrual status is summarized in the following table. Balances are adjusted for deferred loan fees or expenses. December 31, September 30, Real estate loans: Residential Core $ 59,947 $ 62,293 Residential Home Today 22,000 22,556 Home equity loans and lines of credit 21,016 21,514 Construction — 427 Total non-accrual loans $ 102,963 $ 106,790 Loans are placed in non-accrual status when they are contractually 90 days or more past due. Loans restructured in TDRs that were in non-accrual status prior to the restructurings remain in non-accrual status for a minimum of six months after restructuring. Additionally, home equity loans and lines of credit where the customer has a severely delinquent first mortgage loan and loans in Chapter 7 bankruptcy status where all borrowers have filed, and not reaffirmed or been dismissed, are placed in non-accrual status. At December 31, 2015 and September 30, 2015 , respectively, the recorded investment in non-accrual loans includes $65,951 and $68,415 which are performing according to the terms of their agreement, of which $43,623 and $45,575 are loans in Chapter 7 bankruptcy status primarily where all borrowers have filed, and have not reaffirmed or been dismissed. Interest on loans in accrual status, including certain loans individually reviewed for impairment, is recognized in interest income as it accrues, on a daily basis. Accrued interest on loans in non-accrual status is reversed by a charge to interest income and income is subsequently recognized only to the extent cash payments are received. Cash payments on loans in non-accrual status are applied to the oldest scheduled, unpaid payment first. Cash payments on loans with a partial charge-off are applied fully to principal, then to recovery of the charged off amount prior to interest income being recognized. A non-accrual loan is generally returned to accrual status when contractual payments are less than 90 days past due. However, a loan may remain in non-accrual status when collectability is uncertain, such as a TDR that has not met minimum payment requirements, a loan with a partial charge-off, an equity loan or line of credit with a delinquent first mortgage greater than 90 days, or a loan in Chapter 7 bankruptcy status where all borrowers have filed, and have not reaffirmed or been dismissed. The number of days past due is determined by the number of scheduled payments that remain unpaid, assuming a period of 30 days between each scheduled payment. The recorded investment in loan receivables at December 31, 2015 and September 30, 2015 is summarized in the following table. The table provides details of the recorded balances according to the method of evaluation used for determining the allowance for loan losses, distinguishing between determinations made by evaluating individual loans and determinations made by evaluating groups of loans not individually evaluated. Balances of recorded investments are adjusted for deferred loan fees or expenses and any applicable loans-in-process. December 31, 2015 September 30, 2015 Individually Collectively Total Individually Collectively Total Real estate loans: Residential Core $ 115,666 $ 9,392,748 $ 9,508,414 $ 119,588 $ 9,346,472 $ 9,466,060 Residential Home Today 55,903 74,076 129,979 58,046 75,930 133,976 Home equity loans and lines of credit 32,473 1,574,236 1,606,709 34,112 1,600,320 1,634,432 Construction — 23,636 23,636 426 20,775 21,201 Total real estate loans 204,042 11,064,696 11,268,738 212,172 11,043,497 11,255,669 Other consumer loans — 3,273 3,273 — 3,468 3,468 Total $ 204,042 $ 11,067,969 $ 11,272,011 $ 212,172 $ 11,046,965 $ 11,259,137 An analysis of the allowance for loan losses at December 31, 2015 and September 30, 2015 is summarized in the following table. The analysis provides details of the allowance for loan losses according to the method of evaluation, distinguishing between allowances for loan losses determined by evaluating individual loans and allowances for loan losses determined by evaluating groups of loans collectively. December 31, 2015 September 30, 2015 Individually Collectively Total Individually Collectively Total Real estate loans: Residential Core $ 9,527 $ 10,941 $ 20,468 $ 9,354 $ 13,242 $ 22,596 Residential Home Today 4,345 5,507 9,852 4,166 5,831 9,997 Home equity loans and lines of credit 603 38,304 38,907 772 38,154 38,926 Construction — 14 14 26 9 35 Total $ 14,475 $ 54,766 $ 69,241 $ 14,318 $ 57,236 $ 71,554 At December 31, 2015 and September 30, 2015 , individually evaluated loans that required an allowance were comprised only of loans evaluated for impairment based on the present value of cash flows, such as performing TDRs, and loans with a further deterioration in the fair value of collateral not yet identified as uncollectible. All other individually evaluated loans received a charge-off, if applicable. Because many variables are considered in determining the appropriate level of general valuation allowances, directional changes in individual considerations do not always align with the directional change in the balance of a particular component of the general valuation allowance. At December 31, 2015 and September 30, 2015 , respectively, allowances on individually reviewed loans evaluated for impairment based on the present value of cash flows, such as performing TDRs, were $14,424 and $14,117 . Residential Core mortgage loans represent the largest portion of the residential real estate portfolio. The Company believes overall credit risk is low based on the nature, composition, collateral, products, lien position and performance of the portfolio. The portfolio does not include loan types or structures that have historically experienced severe performance problems at other financial institutions (sub-prime, no documentation or pay option adjustable rate mortgages). As described earlier in this footnote, Home Today loans have greater credit risk than traditional residential real estate mortgage loans. At December 31, 2015 and September 30, 2015 , respectively, approximately 32% and 34% of Home Today loans include private mortgage insurance coverage. The majority of the coverage on these loans was provided by PMI Mortgage Insurance Co., which was seized by the Arizona Department of Insurance and through March 31, 2015 paid all claim payments at 67% . In April 2015, the Association was notified that, in addition to a catch-up adjustment for prior claims, all future claims will be paid at 70% . Appropriate adjustments have been made to the Association’s affected valuation allowances and charge-offs, and estimated loss severity factors were adjusted accordingly for loans evaluated collectively. The amount of loans in our owned portfolio covered by mortgage insurance provided by PMIC as of December 31, 2015 and September 30, 2015 , respectively, was $121,160 and $132,857 of which $111,066 and $122,025 was current. The amount of loans in our owned portfolio covered by mortgage insurance provided by Mortgage Guaranty Insurance Corporation as of December 31, 2015 and September 30, 2015 , respectively, was $53,056 and $56,898 of which $52,631 and $56,295 was current. As of December 31, 2015 , MGIC's long-term debt rating, as published by the major credit rating agencies, did not meet the requirements to qualify as "high credit quality"; however, MGIC continues to make claims payments in accordance with its contractual obligations and the Association has not increased its estimated loss severity factors related to MGIC's claim paying ability. No other loans were covered by mortgage insurers that were deferring claim payments or which were assessed as being non-investment grade. Home equity loans and lines of credit represent a significant portion of the residential real estate portfolio, primarily comprised of home equity lines of credit. The state of the economy and low housing prices continue to have an adverse impact on a portion of this portfolio since the home equity lines generally are in a second lien position. Post-origination deterioration in economic and housing market conditions may also impact a borrower's ability to afford the higher payments required during the end of draw repayment period that follows the period of interest only payments on home equity lines of credit originated prior to 2012 or the ability to secure alternative financing. Beginning in February 2013, the terms on new home equity lines of credit included monthly principal and interest payments throughout the entire term to minimize the potential payment differential between the during draw and after draw periods. The Association originates construction loans to individuals for the construction of their personal single-family residence by a qualified builder (construction/permanent loans). The Association’s construction/permanent loans generally provide for disbursements to the builder or sub-contractors during the construction phase as work progresses. During the construction phase, the borrower only pays interest on the drawn balance. Upon completion of construction, the loan converts to a permanent amortizing loan without the expense of a second closing. The Association offers construction/permanent loans with fixed or adjustable rates, and a current maximum loan-to-completed-appraised value ratio of 80%. Other consumer loans are comprised of loans secured by certificate of deposit accounts, which are fully recoverable in the event of non-payment. The recorded investment and the unpaid principal balance of impaired loans, including those reported as TDRs, as of December 31, 2015 and September 30, 2015 are summarized as follows. Balances of recorded investments are adjusted for deferred loan fees or expenses. December 31, 2015 September 30, 2015 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related IVA recorded: Residential Core $ 59,685 $ 78,396 $ — $ 62,177 $ 80,622 $ — Residential Home Today 22,007 48,830 — 23,038 50,256 — Home equity loans and lines of credit 20,834 29,918 — 23,046 32,312 — Construction — — — — — — Total $ 102,526 $ 157,144 $ — $ 108,261 $ 163,190 $ — With an IVA recorded: Residential Core $ 55,981 $ 56,775 $ 9,527 $ 57,411 $ 58,224 $ 9,354 Residential Home Today 33,896 34,325 4,345 35,008 35,479 4,166 Home equity loans and lines of credit 11,639 11,699 603 11,066 11,034 772 Construction — — — 426 572 26 Total $ 101,516 $ 102,799 $ 14,475 $ 103,911 $ 105,309 $ 14,318 Total impaired loans: Residential Core $ 115,666 $ 135,171 $ 9,527 $ 119,588 $ 138,846 $ 9,354 Residential Home Today 55,903 83,155 4,345 58,046 85,735 4,166 Home equity loans and lines of credit 32,473 41,617 603 34,112 43,346 772 Construction — — — 426 572 26 Total $ 204,042 $ 259,943 $ 14,475 $ 212,172 $ 268,499 $ 14,318 At December 31, 2015 and September 30, 2015 , respectively, the recorded investment in impaired loans includes $175,609 and $178,259 of loans restructured in TDRs of which $15,222 and $14,971 were 90 days or more past due. For all classes of loans, a loan is considered impaired when, based on current information and events, it is probable that the Association will be unable to collect the scheduled payments of principal and interest according to the contractual terms of the loan agreement. Factors considered in determining that a loan is impaired may include the deteriorating financial condition of the borrower indicated by missed or delinquent payments, a pending legal action, such as bankruptcy or foreclosure, or the absence of adequate security for the loan. Charge-offs on residential mortgage loans, home equity loans and lines of credit, and construction loans are recognized when triggering events, such as foreclosure actions, short sales, or deeds accepted in lieu of repayment, result in less than full repayment of the recorded investment in the loans. Partial or full charge-offs are also recognized for the amount of impairment on loans considered collateral dependent that meet the conditions described below. • For residential mortgage loans, payments are greater than 180 days delinquent; • For home equity lines of credit, equity loans, and residential loans restructured in a TDR, payments are greater than 90 days delinquent; • For all classes of loans, a sheriff sale is scheduled within 60 days to sell the collateral securing the loan; • For all classes of loans, all borrowers have been discharged of their obligation through a Chapter 7 bankruptcy; • For all classes of loans, within 60 days of notification, all borrowers obligated on the loan have filed Chapter 7 bankruptcy and have not reaffirmed or been dismissed; • For all classes of loans, a borrower obligated on a loan has filed bankruptcy and the loan is greater than 30 days delinquent, and • For all classes of loans, it becomes evident that a loss is probable. Collateral dependent residential mortgage loans and construction loans are charged off to the extent the recorded investment in a loan, net of anticipated mortgage insurance claims, exceeds the fair value less costs to dispose of the underlying property. Management can determine the loan is uncollectible for reasons such as foreclosures exceeding a reasonable time frame and recommend a full charge-off. Home equity loans or lines of credit are charged off to the extent the recorded investment in the loan plus the balance of any senior liens exceeds the fair value less costs to dispose of the underlying property or management determines the collateral is not sufficient to satisfy the loan. A loan in any portfolio that is identified as collateral dependent will continue to be reported as impaired until it is no longer considered collateral dependent, is less than 30 days past due and does not have a prior charge-off. A loan in any portfolio that has a partial charge-off consequent to impairment evaluation will continue to be individually evaluated for impairment until, at a minimum, the impairment has been recovered. The following summarizes the effective dates of charge-off policies that changed or were first implemented during the current and previous four fiscal years and the portfolios to which those policies apply. Effective Date Policy Portfolio(s) Affected 6/30/2014 A loan is considered collateral dependent and any collateral shortfall is charged off when, within 60 days of notification, all borrowers obligated on a loan filed Chapter 7 bankruptcy and have not reaffirmed or been dismissed (1) All 9/30/2012 Pursuant to an OCC directive, a loan is considered collateral dependent and any collateral shortfall is charged off when all borrowers obligated on a loan are discharged through Chapter 7 bankruptcy All 6/30/2012 Loans in any form of bankruptcy greater than 30 days past due are considered collateral dependent and any collateral shortfall is charged off All 12/31/2011 Pursuant to an OCC directive, impairment on collateral dependent loans previously reserved for in the allowance were charged off. Charge-offs are recorded to recognize confirmed collateral shortfalls on impaired loans (2) All ____________________________ (1) Prior to 6/30/2014, collateral shortfalls on loans in Chapter 7 bankruptcy were charged off when all borrowers were discharged of the obligation or when the loan was 30 days or more past due. (2) Prior to 12/31/2011, partial charge-offs were not used, but a reserve in the allowance was established when the recorded investment in the loan exceeded the fair value of the collateral less costs to dispose. Individual loans were only charged off when a triggering event occurred, such as a foreclosure action was culminated, a short sale was approved, or a deed was accepted in lieu of repayment. Loans restructured in TDRs that are not evaluated based on collateral are separately evaluated for impairment on a loan by loan basis at the time of restructuring and at each subsequent reporting date for as long as they are reported as TDRs. The impairment evaluation is based on the present value of expected future cash flows discounted at the effective interest rate of the original loan. Expected future cash flows include a discount factor representing a potential for default. Valuation allowances are recorded for the excess of the recorded investments over the result of the cash flow analysis. Loans discharged in Chapter 7 bankruptcy are reported as TDRs and also evaluated based on the present value of expected future cash flows unless evaluated based on collateral. We evaluate these loans using the expected future cash flows because we expect the borrower, not liquidation of the collateral, to be the source of repayment for the loan. Other consumer loans are not considered for restructuring. A loan restructured in a TDR is classified as an impaired loan for a minimum of one year. After one year, that loan may be reclassified out of the balance of impaired loans if the loan was restructured to yield a market rate for loans of similar credit risk at the time of restructuring and the loan is not impaired based on the terms of the restructuring agreement. No loans whose terms were restructured in TDRs were reclassified from impaired loans during the three months ended December 31, 2015 and December 31, 2014 . The average recorded investment in impaired loans and the amount of interest income recognized during the period that the loans were impaired are summarized below. For the Three Months Ended December 31, 2015 2014 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related IVA recorded: Residential Core $ 60,931 $ 369 $ 72,542 $ 287 Residential Home Today 22,523 150 27,677 58 Home equity loans and lines of credit 21,940 64 25,498 72 Construction — — — — Total $ 105,394 $ 583 $ 125,717 $ 417 With an IVA recorded: Residential Core $ 56,696 $ 590 $ 58,785 $ 664 Residential Home Today 34,452 432 38,363 487 Home equity loans and lines of credit 11,353 77 8,145 67 Construction 213 — — — Total $ 102,714 $ 1,099 $ 105,293 $ 1,218 Total impaired loans: Residential Core $ 117,627 $ 959 $ 131,327 $ 951 Residential Home Today 56,975 582 66,040 545 Home equity loans and lines of credit 33,293 141 33,643 139 Construction 213 — — — Total $ 208,108 $ 1,682 $ 231,010 $ 1,635 Interest on loans in non-accrual status is recognized on a cash-basis. The amount of interest income on impaired loans recognized using a cash-basis method was $449 for the quarter ended December 31, 2015 and $277 for the quarter ended December 31, 2014 . Cash payments on loans with a partial charge-off are applied fully to principal, then to recovery of the charged off amount prior to interest income being recognized. Interest income on the remaining impaired loans is recognized on an accrual basis. The recorded investment in TDRs by type of concession as of December 31, 2015 and September 30, 2015 is shown in the tables below. December 31, 2015 Reduction in Interest Rates Payment Extensions Forbearance or Other Actions Multiple Concessions Multiple Restructurings Bankruptcy Total Residential Core $ 14,978 $ 881 $ 9,085 $ 22,072 $ 22,352 $ 30,916 $ 100,284 Residential Home Today 6,956 7 5,361 12,168 21,598 6,076 52,166 Home equity loans and lines of credit 153 3,246 502 4,972 1,040 13,246 23,159 Total $ 22,087 $ 4,134 $ 14,948 $ 39,212 $ 44,990 $ 50,238 $ 175,609 September 30, 2015 Reduction in Interest Rates Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 15,743 $ 934 $ 8,252 $ 22,211 $ 22,594 $ 32,215 $ 101,949 Residential Home Today 7,734 12 5,643 12,302 21,928 6,272 53,891 Home equity loans and lines of credit 96 3,253 509 4,214 909 13,438 22,419 Total $ 23,573 $ 4,199 $ 14,404 $ 38,727 $ 45,431 $ 51,925 $ 178,259 TDRs may be restructured more than once. Among other requirements, a subsequent restructuring may be available for a borrower upon the expiration of temporary restructuring terms if the borrower cannot return to regular loan payments. If the borrower is experiencing an income curtailment that temporarily has reduced his/her capacity to repay, such as loss of employment, reduction of hours, non-paid leave or short term disability, a temporary restructuring is considered. If the borrower lacks the capacity to repay the loan at the current terms due to a permanent condition, a permanent restructuring is considered. In evaluating the need for a subsequent restructuring, the borrower’s ability to repay is generally assessed utilizing a debt to income and cash flow analysis. As the economy slowly improves, the need for multiple restructurings continues to linger. Loans discharged in Chapter 7 bankruptcy are classified as multiple restructurings if the loan's original terms had also been restructured by the Association. For all loans restructured during the three months ended December 31, 2015 and December 31, 2014 (set forth in the table below), the pre-restructured outstanding recorded investment was not materially different from the post-restructured outstanding recorded investment. The following tables set forth the recorded investment in TDRs restructured during the periods presented, according to the types of concessions granted. For the Three Months Ended December 31, 2015 Reduction in Interest Rates Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 112 $ — $ 900 $ 1,188 $ 558 $ 1,374 $ 4,132 Residential Home Today — — 23 295 821 179 1,318 Home equity loans and lines of credit 61 225 8 1,056 121 515 1,986 Total $ 173 $ 225 $ 931 $ 2,539 $ 1,500 $ 2,068 $ 7,436 For the Three Months Ended December 31, 2014 Reduction in Interest Rates Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 766 $ — $ 978 $ 1,858 $ 1,269 $ 1,879 $ 6,750 Residential Home Today 82 — 1,159 64 1,313 167 2,785 Home equity loans and lines of credit — 652 — 477 44 349 1,522 Total $ 848 $ 652 $ 2,137 $ 2,399 $ 2,626 $ 2,395 $ 11,057 Below summarizes the information on TDRs restructured within the previous 12 months of the period listed for which there was a subsequent payment default, at least 30 days past due on one scheduled payment, during the period presented. For the Three Months Ended December 31, 2015 2014 TDRs That Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment (Dollars in thousands) (Dollars in thousands) Residential Core 28 $ 2,527 28 $ 2,555 Residential Home Today 20 998 33 1,453 Home equity loans and lines of credit 41 1,100 15 418 Total 89 $ 4,625 76 $ 4,426 The following tables provide information about the credit quality of residential loan receivables by an internally assigned grade. Balances are adjusted for deferred loan fees or expenses and any applicable LIP. Pass Special Mention Substandard Loss Total December 31, 2015 Real Estate Loans: Residential Core $ 9,444,086 $ — $ 64,328 $ — $ 9,508,414 Residential Home Today 106,762 — 23,217 — 129,979 Home equity loans and lines of credit 1,577,865 4,724 24,120 — 1,606,709 Construction 23,636 — — — 23,636 Total $ 11,152,349 $ 4,724 $ 111,665 $ — $ 11,268,738 Pass Special Mention Substandard Loss Total September 30, 2015 Real Estate Loans: Residential Core $ 9,399,409 $ — $ 66,651 $ — $ 9,466,060 Residential Home Today 110,105 — 23,871 — 133,976 Home equity loans and lines of credit 1,604,226 4,279 25,927 — 1,634,432 Construction 20,774 — 427 — 21,201 Total $ 11,134,514 $ 4,279 $ 116,876 $ — $ 11,255,669 Residential loans are internally assigned a grade that complies with the guidelines outlined in the OCC’s Handbook for Rating Credit Risk. Pass loans are assets well protected by the current paying capacity of the borrower. Special Mention loans have a potential weakness that the Association feels deserve management’s attention and may result in further deterioration in their repayment prospects and/or the Association’s credit position. Substandard loans are inadequately protected by the current payment capacity of the borrower or the collateral pledged with a defined weakness that jeopardizes the liquidation of the debt. Also included in Substandard are performing home equity loans and lines of credit where the customer has a severely delinquent first mortgage to which the performing home equity loan or line of credit is subordinate and loans in Chapter 7 bankruptcy status where all borrowers have filed, and have not reaffirmed or been dismissed. Loss loans are considered uncollectible and are charged off when identified. At December 31, 2015 and September 30, 2015 , respectively, the recorded investment of impaired loans includes $100,973 and $103,390 of TDRs that are individually evaluated for impairment, but have adequately performed under the terms of the restructuring and are classified as Pass loans. At December 31, 2015 and September 30, 2015 , respectively, there were $8,596 and $8,094 of loans classified substandard and $4,724 and $4,279 of loans designated special mention that are not included in the recorded investment of impaired loans; rather, they are included in loans collectively evaluated for impairment. Other consumer loans are internally assigned a grade of nonperforming when they become 90 days or more past due. At December 31, 2015 and September 30, 2015 , no consumer loans were graded as nonperforming. Activity in the allowance for loan losses is summarized as follows: For the Three Months Ended December 31, 2015 Beginning Balance Provisions Charge-offs Recoveries Ending Balance Real estate loans: Residential Core $ 22,596 $ (1,764 ) $ (1,282 ) $ 918 $ 20,468 Residential Home Today 9,997 263 (826 ) 418 9,852 Home equity loans and lines of credit 38,926 522 (2,104 ) 1,563 38,907 Construction 35 (21 ) — — 14 Total $ 71,554 $ (1,000 ) $ (4,212 ) $ 2,899 $ 69,241 For the Three Months Ended December 31, 2014 Beginning Balance Provisions Charge-offs Recoveries Ending Balance Real estate loans: Residential Core $ 31,080 $ (1,724 ) $ (1,268 ) $ 629 $ 28,717 Residential Home Today 16,424 924 (1,082 ) 168 16,434 Home equity loans and lines of credit 33,831 2,980 (3,629 ) 1,413 34,595 Construction 27 (180 ) — 169 16 Total $ 81,362 $ 2,000 $ (5,979 ) $ 2,379 $ 79,762 |
Deposits
Deposits | 3 Months Ended |
Dec. 31, 2015 | |
Deposits [Abstract] | |
Deposits | DEPOSITS Deposit account balances are summarized as follows: December 31, September 30, Negotiable order of withdrawal accounts $ 1,023,173 $ 994,447 Savings accounts 1,605,486 1,610,944 Certificates of deposit 5,674,806 5,678,618 8,303,465 8,284,009 Accrued interest 1,897 1,849 Total deposits $ 8,305,362 $ 8,285,858 Brokered certificates of deposit, which are used as a cost effective funding alternative, totaled $539,910 and $520,110 at December 31, 2015 and September 30, 2015 , respectively. The FDIC places restrictions on banks with regard to issuing brokered deposits based on the bank's capital classification. As a well-capitalized institution at December 31, 2015 and September 30, 2015 , the Association may accept brokered deposits without FDIC restrictions. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 3 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Other Comprehensive Income (Loss) | OTHER COMPREHENSIVE INCOME (LOSS) The change in accumulated other comprehensive income (loss) by component is as follows: For the Three Months Ended For the Three Months Ended December 31, 2015 December 31, 2014 Unrealized gains (losses) on securities available for sale Cash flow hedges Defined Benefit Plan Total Unrealized gains (losses) on securities available for sale Cash flow hedges Defined Benefit Plan Total Balance at beginning of period $ 1,926 $ — $ (14,991 ) $ (13,065 ) $ (1,092 ) $ — $ (9,700 ) $ (10,792 ) Other comprehensive (loss) income before reclassifications, net of tax benefit (expense) of $2,803 and $(233) (5,252 ) 47 — (5,205 ) 433 — — 433 Amounts reclassified from accumulated other comprehensive income (loss), net of tax benefit of $141 and $66 — 8 250 258 — — 124 124 Other comprehensive (loss) income (5,252 ) 55 250 (4,947 ) 433 — 124 557 Balance at end of period $ (3,326 ) $ 55 $ (14,741 ) $ (18,012 ) $ (659 ) $ — $ (9,576 ) $ (10,235 ) The following table presents the reclassification adjustment out of accumulated other comprehensive income (loss) included in net income and the corresponding line item on the consolidated statements of income for the periods indicated: Amounts Reclassified from Accumulated Other Comprehensive Income Details about Accumulated Other Comprehensive Income Components For the Three Months Ended December 31, Line Item in the Statement of Income 2015 2014 Cash flow hedges: Interest expense, effective portion 13 — Interest expense Income tax benefit (5 ) — Income tax expense Net of income tax benefit 8 — Amortization of pension plan: Actuarial loss $ 386 $ 190 (a) Income tax benefit (136 ) (66 ) Income tax expense Net of income tax benefit $ 250 $ 124 Total reclassifications for the period $ 258 $ 124 (a) This item is included in the computation of net period pension cost. See Note 8. Defined Benefit Plan for additional disclosure. |
Income Taxes
Income Taxes | 3 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and in various state and city jurisdictions. With few exceptions, the Company is no longer subject to income tax examinations in its major jurisdictions for tax years prior to 2012. The Company recognizes interest and penalties on income tax assessments or income tax refunds, where applicable, in the financial statements as a component of its provision for income taxes. The Company makes certain investments in limited partnerships which invest in affordable housing projects that qualify for the Low Income Housing Tax Credit. The Company acts as a limited partner in these investments and does not exert control over the operating or financial policies of the partnership.The Company accounts for its interests in LIHTCs using the proportional amortization method. The impact of the Company's investments in tax credit entities on the provision for income taxes was not material during the three months ended December 31, 2015 and December 31, 2014 . |
Defined Benefit Plan
Defined Benefit Plan | 3 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Defined Benefit Plan | DEFINED BENEFIT PLAN The Third Federal Savings Retirement Plan (the “Plan”) is a defined benefit pension plan. Effective December 31, 2002, the Plan was amended to limit participation to employees who met the Plan’s eligibility requirements on that date. Effective December 31, 2011, the Plan was amended to freeze future benefit accruals for participants in the Plan. After December 31, 2002, employees not participating in the Plan, upon meeting the applicable eligibility requirements, and those eligible participants who no longer receive service credits under the Plan, participate in a separate tier of the Company’s defined contribution 401(k) Savings Plan. Benefits under the Plan are based on years of service and the employee’s average annual compensation (as defined in the Plan) through December 31, 2011. The funding policy of the Plan is consistent with the funding requirements of U.S. federal and other governmental laws and regulations. The components, including an estimated settlement adjustment due to expected lump sum payments exceeding the interest cost for the year, of net periodic cost recognized in the statements of income are as follows: Three Months Ended December 31, 2015 2014 Interest cost $ 822 $ 783 Expected return on plan assets (1,028 ) (1,104 ) Amortization of net loss 386 190 Estimated net loss due to settlement — 228 Net periodic cost $ 180 $ 97 There were no required minimum employer contributions during the three months ended December 31, 2015 . No minimum employer contributions are expected during the remainder of the fiscal year. |
Equity Incentive Plan
Equity Incentive Plan | 3 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plan | EQUITY INCENTIVE PLAN In December 2015, 393,500 options to purchase our common stock and 55,600 restricted stock units were granted to certain directors, officers and employees of the Company. The awards were made pursuant to the shareholder-approved 2008 Equity Incentive Plan. During the three months ended December 31, 2015 and 2014 , the Company recorded $1,708 and $2,099 , respectively, of stock-based compensation expense, comprised of stock option expense of $666 and $930 , respectively, and restricted stock units expense of $1,042 and $1,169 , respectively. At December 31, 2015 , 6,173,130 shares were subject to options, with a weighted average exercise price of $12.41 per share and a weighted average grant date fair value of $2.99 per share. Expected future expense related to the 1,726,035 non-vested options outstanding as of December 31, 2015 is $3,946 over a weighted average period of 2.4 years. At December 31, 2015 , 790,007 restricted stock units, with a weighted average grant date fair value of $13.56 per unit, are unvested. Expected future compensation expense relating to the 1,228,710 restricted stock units outstanding as of December 31, 2015 is $4,627 over a weighted average period of 2.2 years. Each unit is equivalent to one share of common stock. |
Commitments And Contingent Liab
Commitments And Contingent Liabilities | 3 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingent Liabilities | COMMITMENTS AND CONTINGENT LIABILITIES In the normal course of business, the Company enters into commitments with off-balance sheet risk to meet the financing needs of its customers. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments to originate loans generally have fixed expiration dates of 60 to 360 days or other termination clauses and may require payment of a fee. Unfunded commitments related to home equity lines of credit generally expire from five to 10 years following the date that the line of credit was established, subject to various conditions, including compliance with payment obligation, adequacy of collateral securing the line and maintenance of a satisfactory credit profile by the borrower. Since some of the commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Off-balance sheet commitments to extend credit involve elements of credit risk and interest rate risk in excess of the amount recognized in the consolidated statements of condition. The Company’s exposure to credit loss in the event of nonperformance by the other party to the commitment is represented by the contractual amount of the commitment. The Company generally uses the same credit policies in making commitments as it does for on-balance-sheet instruments. Interest rate risk on commitments to extend credit results from the possibility that interest rates may have moved unfavorably from the position of the Company since the time the commitment was made. At December 31, 2015 , the Company had commitments to originate loans as follows: Fixed-rate mortgage loans $ 288,938 Adjustable-rate mortgage loans 307,452 Equity loans and lines of credit including bridge loans 34,769 Total $ 631,159 At December 31, 2015 , the Company had unfunded commitments outstanding as follows: Equity lines of credit $ 1,200,471 Construction loans 32,153 Private equity investments 12,941 Total $ 1,245,565 At December 31, 2015 , the unfunded commitment on home equity lines of credit, including commitments for accounts suspended as a result of material default or a decline in equity, is $1,350,439 . In management's opinion, the above commitments will be funded through normal operations. The Company and its subsidiaries are subject to various legal actions arising in the normal course of business. In the opinion of management, the resolution of these legal actions is not expected to have a material adverse effect on the Company’s financial condition, results of operation, or statements of cash flows. |
Fair Value
Fair Value | 3 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value | FAIR VALUE Under U.S. GAAP, fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date and a fair value framework is established whereby assets and liabilities measured at fair value are grouped into three levels of a fair value hierarchy, based on the transparency of inputs and the reliability of assumptions used to estimate fair value. The Company’s policy is to recognize transfers between levels of the hierarchy as of the end of the reporting period in which the transfer occurs. The three levels of inputs are defined as follows: Level 1 – quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets with few transactions, or model-based valuation techniques using assumptions that are observable in the market. Level 3 – a company’s own assumptions about how market participants would price an asset or liability. As permitted under the fair value guidance in U.S. GAAP, the Company elects to measure at fair value mortgage loans classified as held for sale that are subject to pending agency contracts to securitize and sell loans. This election is expected to reduce volatility in earnings related to market fluctuations between the contract trade and settlement dates. At December 31, 2015 and September 30, 2015, respectively, there were no loans held for sale subject to pending agency contracts for which the fair value option was elected. Included in the net gain on the sale of loans is $0 and $(111) for the three months ending December 31, 2015 and 2014 , respectively, related to changes during the period in the fair value of loans held for sale subject to pending agency contracts. Presented below is a discussion of the methods and significant assumptions used by the Company to estimate fair value. Investment Securities Available for Sale— Investment securities available for sale are recorded at fair value on a recurring basis. At December 31, 2015 and September 30, 2015 , respectively, this includes $588,406 and $585,053 of investments in U.S. government and agency obligations including U.S. Treasury notes and sequentially structured, highly liquid collateralized mortgage obligations issued by Fannie Mae, Freddie Mac and Ginnie Mae. Both are measured using the market approach. The fair values of treasury notes and collateralized mortgage obligations represent unadjusted price estimates obtained from third party independent nationally recognized pricing services using pricing models or quoted prices of securities with similar characteristics and are included in Level 2 of the hierarchy. Third party pricing is reviewed on a monthly basis for reasonableness based on the market knowledge and experience of company personnel that interact daily with the markets for these types of securities. Mortgage Loans Held for Sale— The fair value of mortgage loans held for sale is estimated on an aggregate basis using a market approach based on quoted secondary market pricing for loan portfolios with similar characteristics. Loans held for sale are carried at the lower of cost or fair value except, as described above, the Company elects the fair value measurement option for mortgage loans held for sale subject to pending agency contracts to securitize and sell loans. Loans held for sale are included in Level 2 of the hierarchy. At December 31, 2015 and September 30, 2015 there were $374 and $116 , respectively, of loans held for sale carried at cost. Impaired Loans— Impaired loans represent certain loans held for investment that are subject to a fair value measurement under U.S. GAAP because they are individually evaluated for impairment and that impairment is measured using a fair value measurement, such as the observable market price of the loan or the fair value of the collateral less estimated costs to dispose. Impairment is measured using the market approach based on the fair value of the collateral less estimated costs to dispose for loans the Company considers to be collateral-dependent due to a delinquency status or other adverse condition severe enough to indicate that the borrower can no longer be relied upon as the continued source of repayment. These conditions are described more fully in Note 4. Loans and Allowance for Loan Losses . To calculate impairment of collateral-dependent loans, the fair market values of the collateral, estimated using exterior appraisals in the majority of instances, are reduced by calculated costs to dispose, derived from historical experience and recent market conditions. Any indicated impairment is recognized by a charge to the allowance for loan losses. Subsequent increases in collateral values or principal pay downs on loans with recognized impairment could result in an impaired loan being carried below its fair value. When no impairment loss is indicated, the carrying amount is considered to approximate the fair value of that loan to the Company because contractually that is the maximum recovery the Company can expect. The recorded investment of loans individually evaluated for impairment based on the fair value of the collateral are included in Level 3 of the hierarchy with assets measured at fair value on a non-recurring basis. The range and weighted average impact of costs to dispose on fair values is determined at the time of impairment or when additional impairment is recognized and is included in quantitative information about significant unobservable inputs later in this note. Loans held for investment that have been restructured in TDRs and are performing according to the restructured terms of the loan agreement are individually evaluated for impairment using the present value of future cash flows based on the loan’s effective interest rate, which is not a fair value measurement. At December 31, 2015 and September 30, 2015 , respectively, this included $101,733 and $103,777 in recorded investment of TDRs with related allowances for loss of $14,424 and $14,117 . Real Estate Owned— Real estate owned includes real estate acquired as a result of foreclosure or by deed in lieu of foreclosure and is carried at the lower of the cost basis or fair value less estimated costs to dispose. Fair value is estimated under the market approach using independent third party appraisals. As these properties are actively marketed, estimated fair values may be adjusted by management to reflect current economic and market conditions. At December 31, 2015 and September 30, 2015 , these adjustments were not significant to reported fair values. At December 31, 2015 and September 30, 2015 , respectively, $10,010 and $15,094 of real estate owned is included in Level 3 of the hierarchy with assets measured at fair value on a non-recurring basis where the cost basis equals or exceeds the estimate of fair values less costs to dispose of these properties. Real estate owned, as reported in the Consolidated Statements of Condition, includes estimated costs to dispose of $1,186 and $1,756 related to properties measured at fair value and $5,475 and $4,154 of properties carried at their original or adjusted cost basis at December 31, 2015 and September 30, 2015 , respectively. Derivatives— Derivative instruments include interest rate locks on commitments to originate loans for the held for sale portfolio, forward commitments on contracts to deliver mortgage loans, and interest rate swaps designated as cash flow hedges. Derivatives not designated as cash flow hedges are reported at fair value in other assets or other liabilities on the Consolidated Statement of Condition with changes in value recorded in current earnings. Derivatives qualifying as cash flow hedges, when highly effective, are reported at fair value in other assets or other liabilities on the Consolidated Statement of Condition with changes in value recorded in OCI. Should the hedge no longer be considered effective, the ineffective portion of the change in fair value is recorded directly in earnings in the period in which the change occurs. Fair value of forward commitments is estimated using a market approach based on quoted secondary market pricing for loan portfolios with characteristics similar to loans underlying the derivative contracts. The fair value of interest rate swaps is estimated using a discounted cash flow method that incorporates current market interest rates and other market parameters. The fair value of interest rate lock commitments is adjusted by a closure rate based on the estimated percentage of commitments that will result in closed loans. The range and weighted average impact of the closure rate is included in quantitative information about significant unobservable inputs later in this note. A significant change in the closure rate may result in a significant change in the ending fair value measurement of these derivatives relative to their total fair value. Because the closure rate is a significantly unobservable assumption, interest rate lock commitments are included in Level 3 of the hierarchy. Forward commitments on contracts to deliver mortgage loans and interest rate swaps are included in Level 2 of the hierarchy. Assets carried at fair value on a recurring basis in the Consolidated Statements of Condition at December 31, 2015 and September 30, 2015 are summarized below. There were no liabilities carried at fair value on a recurring basis at December 31, 2015 and September 30, 2015, respectively. Recurring Fair Value Measurements at Reporting Date Using December 31, 2015 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Assets Investment securities available for sale: REMIC's $ 578,147 $ — $ 578,147 $ — Fannie Mae certificates 10,259 — 10,259 — Derivatives: Interest rate lock commitments 84 — — 84 Interest rate swaps 85 — 85 — Total $ 588,575 $ — $ 588,491 $ 84 Recurring Fair Value Measurements at Reporting Date Using September 30, 2015 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Assets Investment securities available for sale: U.S. government and agency obligations $ 2,002 $ — $ 2,002 $ — REMIC's 572,451 — 572,451 — Fannie Mae certificates 10,600 — 10,600 — Derivatives: Interest rate lock commitments 79 — — 79 Total $ 585,132 $ — $ 585,053 $ 79 The table below presents a reconciliation of the beginning and ending balances and the location within the Consolidated Statements of Income where gains (losses) due to changes in fair value are recognized on interest rate lock commitments which are measured at fair value on a recurring basis using significant unobservable inputs (Level 3). Three Months Ended December 31, 2015 2014 Beginning balance $ 79 $ 59 Gain during the period due to changes in fair value: Included in other non-interest income 5 33 Ending balance $ 84 $ 92 Change in unrealized gains for the period included in earnings for assets held at end of the reporting date $ 84 $ 92 Summarized in the tables below are those assets measured at fair value on a nonrecurring basis. This includes loans held for investment that are individually evaluated for impairment, excluding performing TDRs valued using the present value of cash flow method, and properties included in real estate owned that are carried at fair value less estimated costs to dispose at the reporting date. Nonrecurring Fair Value Measurements at Reporting Date Using December 31, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Impaired loans, net of allowance $ 102,259 $ — $ — $ 102,259 Real estate owned (1) 10,010 — — 10,010 Total $ 112,269 $ — $ — $ 112,269 (1) Amounts represent fair value measurements of properties before deducting estimated costs to dispose. Nonrecurring Fair Value Measurements at Reporting Date Using September 30, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Impaired loans, net of allowance $ 108,194 $ — $ — $ 108,194 Real estate owned (1) 15,094 — — 15,094 Total $ 123,288 $ — $ — $ 123,288 (1) Amounts represent fair value measurements of properties before deducting estimated costs to dispose. The following provides quantitative information about significant unobservable inputs categorized within Level 3 of the Fair Value Hierarchy. Fair Value Weighted 12/31/2015 Valuation Technique(s) Unobservable Input Range Average Impaired loans, net of allowance $102,259 Market comparables of collateral discounted to estimated net proceeds Discount appraised value to estimated net proceeds based on historical experience: • Residential Properties 0 - 24% 8.1% Interest rate lock commitments $84 Quoted Secondary Market pricing Closure rate 0 - 100% 87.6% Fair Value Weighted 9/30/2015 Valuation Technique(s) Unobservable Input Range Average Impaired loans, net of allowance $108,194 Market comparables of collateral discounted to estimated net proceeds Discount appraised value to estimated net proceeds based on historical experience: • Residential Properties 0 - 24% 8.0% Interest rate lock commitments $79 Quoted Secondary Market pricing Closure rate 0 - 100% 78.7% The following tables present the estimated fair value of the Company’s financial instruments. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required to interpret market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. December 31, 2015 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 Assets: Cash and due from banks $ 30,787 $ 30,787 $ 30,787 $ — $ — Interest earning cash equivalents 128,835 128,835 128,835 — — Investment securities available for sale 588,406 588,406 — 588,406 — Mortgage loans held for sale 374 382 — 382 — Loans, net: Mortgage loans held for investment 11,199,497 11,520,344 — — 11,520,344 Other loans 3,273 3,401 — — 3,401 Federal Home Loan Bank stock 69,470 69,470 N/A — — Private equity investments 267 267 — — 267 Accrued interest receivable 32,271 32,271 — 32,271 — Derivatives 169 169 — 85 84 Liabilities: NOW and passbook accounts $ 2,628,659 $ 2,628,659 $ — $ 2,628,659 $ — Certificates of deposit 5,676,703 5,578,162 — 5,578,162 — Borrowed funds 2,164,225 2,175,499 — 2,175,499 — Borrowers’ advances for taxes and insurance 81,421 81,421 — 81,421 — Principal, interest and escrow owed on loans serviced 45,495 45,495 — 45,495 — September 30, 2015 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 Assets: Cash and due from banks $ 22,428 $ 22,428 $ 22,428 $ — $ — Interest earning cash equivalents 132,941 132,941 132,941 — — Investment securities available for sale 585,053 585,053 — 585,053 — Mortgage loans held for sale 116 119 — 119 — Loans, net: Mortgage loans held for investment 11,184,115 11,650,701 — — 11,650,701 Other loans 3,468 3,645 — — 3,645 Federal Home Loan Bank stock 69,470 69,470 N/A — — Private equity investments 255 255 — — 255 Accrued interest receivable 32,490 32,490 — 32,490 — Derivatives 79 79 — — 79 Liabilities: NOW and passbook accounts $ 2,605,391 $ 2,605,391 $ — $ 2,605,391 $ — Certificates of deposit 5,680,467 5,634,860 — 5,634,860 — Borrowed funds 2,168,627 2,196,476 — 2,196,476 — Borrowers’ advances for taxes and insurance 86,292 86,292 — 86,292 — Principal, interest and escrow owed on loans serviced 49,493 49,493 — 49,493 — Presented below is a discussion of the valuation techniques and inputs used by the Company to estimate fair value. Cash and Due from Banks, Interest Earning Cash Equivalents— The carrying amount is a reasonable estimate of fair value. Investment and Mortgage-Backed Securities — Estimated fair value for investment and mortgage-backed securities is based on quoted market prices, when available. If quoted prices are not available, management will use as part of their estimation process fair values which are obtained from third party independent nationally recognized pricing services using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Mortgage Loans Held for Sale— Fair value of mortgage loans held for sale is based on quoted secondary market pricing for loan portfolios with similar characteristics. Loans— For mortgage loans held for investment and other loans, fair value is estimated by discounting contractual cash flows adjusted for prepayment estimates using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining term. The use of current rates to discount cash flows reflects current market expectations with respect to credit exposure. Impaired loans are measured at the lower of cost or fair value as described earlier in this footnote. Federal Home Loan Bank Stock— It is not practical to estimate the fair value of FHLB stock due to restrictions on its transferability. The fair value is estimated to be the carrying value, which is par. All transactions in capital stock of the FHLB Cincinnati are executed at par. Private Equity Investments— Private equity investments are initially valued based upon transaction price. The carrying value is subsequently adjusted when it is considered necessary based on current performance and market conditions. The carrying values are adjusted to reflect expected exit values. These investments are included in Other Assets in the accompanying Consolidated Statements of Condition at fair value. Deposits— The fair value of demand deposit accounts is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using discounted cash flows and rates currently offered for deposits of similar remaining maturities. Borrowed Funds— Estimated fair value for borrowed funds is estimated using discounted cash flows and rates currently charged for borrowings of similar remaining maturities. Accrued Interest Receivable, Borrowers’ Advances for Insurance and Taxes, and Principal, Interest and Related Escrow Owed on Loans Serviced— The carrying amount is a reasonable estimate of fair value. Derivatives— Fair value is estimated based on the valuation techniques and inputs described earlier in this footnote. |
Derivative Instruments
Derivative Instruments | 3 Months Ended |
Dec. 31, 2015 | |
Summary of Derivative Instruments [Abstract] | |
Derivative Instruments | DERIVATIVE INSTRUMENTS The Company enters into interest rate swaps to add stability to interest expense and manage exposure to interest rate movements as part of an overall risk management strategy. For hedges of the Company's borrowing program, interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed payments. At December 31, 2015 , the Company had one interest rate swap with a notional amount of $25,000 and a remaining maturity of 4.9 years that was designated as a cash flow hedge of interest rate risk associated with the Company's variable rate borrowings. Cash flow hedges are assessed for effectiveness using regression analysis. The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in OCI and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. These derivatives are used to hedge the forecasted cash outflows associated with the Company's FHLB borrowings. Ineffectiveness is generally measured as the amount by which the cumulative change in the fair value of the hedging instrument exceeds or is substantially less than the present value of the cumulative change in the hedged item's expected cash flows attributable to the risk being hedged. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings for the period in which it occurs. Amounts reported in AOCI related to derivatives are reclassified to interest expense as interest payments are made on the Company's variable rate borrowings. During the next twelve months, the Company estimates that $198 will be reclassified to interest expense. The Company enters into forward commitments for the sale of mortgage loans principally to protect against the risk of adverse interest rate movements on net income. The Company recognizes the fair value of such contracts when the characteristics of those contracts meet the definition of a derivative. These derivatives are not designated in a hedging relationship; therefore, gains and losses are recognized immediately in the statement of income. There were no forward commitments for the sale of mortgage loans at December 31, 2015 or September 30, 2015 . In addition, the Company is party to derivative instruments when it enters into commitments to originate a portion of its loans, which when funded, are classified as held for sale. Such commitments are not designated in a hedging relationship; therefore, gains and losses are recognized immediately in the statement of income. The following table provides the locations within the Consolidated Statements of Condition and fair values for all derivative instruments. The Company had no derivatives designated as hedging instruments at September 30, 2015 . Asset Derivatives December 31, 2015 September 30, 2015 Location Fair Value Location Fair Value Derivatives designated as hedging instruments Cash flow hedges: Interest rate swaps Other Assets $ 85 Other Assets $ — Derivatives not designated as hedging instruments Interest rate lock commitments Other Assets $ 84 Other Assets $ 79 The following table presents the net gains and losses recorded within the Consolidated Statements of Income and the Consolidated Statements of Comprehensive Income relating to derivative instruments. Three Months Ended Location of Gain or (Loss) December 31, Recognized in Income 2015 2014 Cash flow hedges Amount of gain recognized, effective portion Other comprehensive income $ 72 $ — Amount of loss reclassified from AOCI Interest expense (13 ) — Amount of ineffectiveness recognized Other non-interest income — — Derivatives not designated as hedging instruments Interest rate lock commitments Other non-interest income $ 5 $ 33 Forward commitments for the sale of mortgage loans Net gain on the sale of loans — 14 Total $ 5 $ 47 Derivatives contain an element of credit risk which arises from the possibility that the Company will incur a loss because a counterparty fails to meet its contractual obligations. The Company's exposure is limited to the replacement value of the contracts rather than the notional or principal amounts. Credit risk is minimized through counterparty collateral, transaction limits and monitoring procedures. Swap transactions that are handled by a registered clearing broker are cleared though the broker to a registered clearing organization. The clearing organization establishes daily cash and upfront cash or securities margin requirements to cover potential exposure in the event of default. This process shifts the risk away from the counterparty, since the clearing organization acts as the middleman on each cleared transaction. The fair values of derivative instruments are presented on a gross basis, even when the derivative instruments are subject to master netting arrangements. Cash collateral payables or receivables associated with the derivative instruments are not added to or netted against the fair value amounts. At December 31, 2015, the Company’s interest rate swaps are cleared through a registered clearing broker and are fully collateralized. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Dec. 31, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Pronouncements | RECENT ACCOUNTING PRONOUNCEMENTS Pending as of December 31, 2015 In January 2016, the FASB issued ASU 2016-01 Financial Instruments - Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments in this Update make targeted improvements as follows: 1) require equity investments not accounted for under the equity method of accounting to be measured at fair value with changes in fair value recognized in net income, 2) simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, 3) eliminate the requirement to disclose the method(s) and significant assumptions used to estimate fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, 4) require public entities to use the exit process notion when measuring fair value of financial instruments for disclosure purposes, 5) require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from the change in instrument-specific risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments, 6) require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or in accompanying notes, and 7) clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity's other deferred tax assets. The Company is currently evaluating the impact of adopting the amendments on its consolidated financial statements. In May 2015, the FASB issued ASU 2015-07 Fair Value Measurement (Topic 820) Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share. Under this amendment, investments for which fair value is measured at net value per share (or its equivalent) using the practical expedient should not be categorized in the fair value hierarchy. Entities will continue to provide information helpful to understanding the nature and risks of these investments and whether the investments, if sold, are probable of being sold at amounts different from net asset value. The amendments in this Update are effective for public companies for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU 2015-07 is not expected to have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) Amendments to the Consolidation Analysis. This amendment modifies the consolidation model for reporting legal entities under both the variable interest model and the voting interest model. This ASU will require all legal entities to reevaluate previous consolidation conclusions under the revised model and will be effective for annual periods beginning after December 15, 2015. Early adoption is permitted. A reporting entity may apply the ASU by using a modified retrospective approach (by recording a cumulative-effect adjustment to equity as of the beginning of the year of adoption) or a full retrospective approach (by restating all periods presented). The Company is currently evaluating the impact of adopting the amendments on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), affecting any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. ASC Topic 606 does not apply to rights or obligations associated with financial instruments. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In August 2015, the FASB issued ASU 2015-14 which deferred the effective dates of ASU 2014-09 by one year, permitting public entities to defer the application of this guidance to annual reporting periods and interim period within those annual periods beginning after December 15, 2017. The Company is currently evaluating the impact of adopting the amendments on its consolidated financial statements. Adopted in the quarter ended December 31, 2015 ASU 2014-04, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40), Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure reduces diversity by clarifying when an in-substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The only impact of these amendments on the Company's consolidated financial statements is the addition of a disclosure of loans in foreclosure in the Loans and Allowance for Loan Losses footnote. The Company has determined that all other recently issued accounting pronouncements will not have a material impact on the Company's consolidated financial statements or do not apply to its operations. |
Basis Of Presentation Basis Of
Basis Of Presentation Basis Of Presentation (Policies) | 3 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Business, Policy | TFS Financial Corporation, a federally chartered stock holding company, conducts its principal activities through its wholly owned subsidiaries. The principal line of business of the Company is retail consumer banking, including mortgage lending, deposit gathering, and, to a much lesser extent, other financial services. On December 31, 2015 , approximately 79% of the Company’s outstanding shares were owned by a federally chartered mutual holding company, Third Federal Savings and Loan Association of Cleveland, MHC. The thrift subsidiary of TFS Financial Corporation is Third Federal Savings and Loan Association of Cleveland. |
Basis of Accounting, Policy | The accounting and reporting policies followed by the Company conform in all material respects to accounting principles generally accepted in the United States of America and to general practices in the financial services industry. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. The allowance for loan losses, the valuation of mortgage loan servicing rights, the valuation of deferred tax assets, and the determination of pension obligations and stock-based compensation are particularly subject to change. The unaudited interim consolidated financial statements were prepared without an audit and reflect all adjustments of a normal recurring nature which, in the opinion of management, are necessary to present fairly the consolidated financial condition of the Company at December 31, 2015 , and its results of operations and cash flows for the periods presented. Such adjustments are the only adjustments reflected in the unaudited interim financial statements. In accordance with Regulation S-X for interim financial information, these statements do not include certain information and footnote disclosures required for complete audited financial statements. The Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2015 contains consolidated financial statements and related notes, which should be read in conjunction with the accompanying interim consolidated financial statements. The results of operations for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for the fiscal year ending September 30, 2016 or for any other period. |
Loans and Allowance for Loan Losses, Nonaccrual Loan Status, Charge-off & Past Due, Policy | Loans are placed in non-accrual status when they are contractually 90 days or more past due. Loans restructured in TDRs that were in non-accrual status prior to the restructurings remain in non-accrual status for a minimum of six months after restructuring. Additionally, home equity loans and lines of credit where the customer has a severely delinquent first mortgage loan and loans in Chapter 7 bankruptcy status where all borrowers have filed, and not reaffirmed or been dismissed, are placed in non-accrual status. When a loan is more than one month past due on its scheduled payments, the loan is considered 30 days or more past due. Charge-offs on residential mortgage loans, home equity loans and lines of credit, and construction loans are recognized when triggering events, such as foreclosure actions, short sales, or deeds accepted in lieu of repayment, result in less than full repayment of the recorded investment in the loans. Partial or full charge-offs are also recognized for the amount of impairment on loans considered collateral dependent that meet the conditions described below. • For residential mortgage loans, payments are greater than 180 days delinquent; • For home equity lines of credit, equity loans, and residential loans restructured in a TDR, payments are greater than 90 days delinquent; • For all classes of loans, a sheriff sale is scheduled within 60 days to sell the collateral securing the loan; • For all classes of loans, all borrowers have been discharged of their obligation through a Chapter 7 bankruptcy; • For all classes of loans, within 60 days of notification, all borrowers obligated on the loan have filed Chapter 7 bankruptcy and have not reaffirmed or been dismissed; • For all classes of loans, a borrower obligated on a loan has filed bankruptcy and the loan is greater than 30 days delinquent, and • For all classes of loans, it becomes evident that a loss is probable. Collateral dependent residential mortgage loans and construction loans are charged off to the extent the recorded investment in a loan, net of anticipated mortgage insurance claims, exceeds the fair value less costs to dispose of the underlying property. Management can determine the loan is uncollectible for reasons such as foreclosures exceeding a reasonable time frame and recommend a full charge-off. Home equity loans or lines of credit are charged off to the extent the recorded investment in the loan plus the balance of any senior liens exceeds the fair value less costs to dispose of the underlying property or management determines the collateral is not sufficient to satisfy the loan. A loan in any portfolio that is identified as collateral dependent will continue to be reported as impaired until it is no longer considered collateral dependent, is less than 30 days past due and does not have a prior charge-off. A loan in any portfolio that has a partial charge-off consequent to impairment evaluation will continue to be individually evaluated for impairment until, at a minimum, the impairment has been recovered. The following summarizes the effective dates of charge-off policies that changed or were first implemented during the current and previous four fiscal years and the portfolios to which those policies apply. Effective Date Policy Portfolio(s) Affected 6/30/2014 A loan is considered collateral dependent and any collateral shortfall is charged off when, within 60 days of notification, all borrowers obligated on a loan filed Chapter 7 bankruptcy and have not reaffirmed or been dismissed (1) All 9/30/2012 Pursuant to an OCC directive, a loan is considered collateral dependent and any collateral shortfall is charged off when all borrowers obligated on a loan are discharged through Chapter 7 bankruptcy All 6/30/2012 Loans in any form of bankruptcy greater than 30 days past due are considered collateral dependent and any collateral shortfall is charged off All 12/31/2011 Pursuant to an OCC directive, impairment on collateral dependent loans previously reserved for in the allowance were charged off. Charge-offs are recorded to recognize confirmed collateral shortfalls on impaired loans (2) All ____________________________ (1) Prior to 6/30/2014, collateral shortfalls on loans in Chapter 7 bankruptcy were charged off when all borrowers were discharged of the obligation or when the loan was 30 days or more past due. (2) Prior to 12/31/2011, partial charge-offs were not used, but a reserve in the allowance was established when the recorded investment in the loan exceeded the fair value of the collateral less costs to dispose. Individual loans were only charged off when a triggering event occurred, such as a foreclosure action was culminated, a short sale was approved, or a deed was accepted in lieu of repayment. Interest on loans in accrual status, including certain loans individually reviewed for impairment, is recognized in interest income as it accrues, on a daily basis. Accrued interest on loans in non-accrual status is reversed by a charge to interest income and income is subsequently recognized only to the extent cash payments are received. Cash payments on loans in non-accrual status are applied to the oldest scheduled, unpaid payment first. Cash payments on loans with a partial charge-off are applied fully to principal, then to recovery of the charged off amount prior to interest income being recognized. A non-accrual loan is generally returned to accrual status when contractual payments are less than 90 days past due. However, a loan may remain in non-accrual status when collectability is uncertain, such as a TDR that has not met minimum payment requirements, a loan with a partial charge-off, an equity loan or line of credit with a delinquent first mortgage greater than 90 days, or a loan in Chapter 7 bankruptcy status where all borrowers have filed, and have not reaffirmed or been dismissed. The number of days past due is determined by the number of scheduled payments that remain unpaid, assuming a period of 30 days between each scheduled payment. |
Loans and Allowance for Loan Losses, Impaired Loan, Policy | For all classes of loans, a loan is considered impaired when, based on current information and events, it is probable that the Association will be unable to collect the scheduled payments of principal and interest according to the contractual terms of the loan agreement. Factors considered in determining that a loan is impaired may include the deteriorating financial condition of the borrower indicated by missed or delinquent payments, a pending legal action, such as bankruptcy or foreclosure, or the absence of adequate security for the loan. |
Loans and Allowance for Loan Losses, Troubled Debt Restructuring, Policy | Loans restructured in TDRs that are not evaluated based on collateral are separately evaluated for impairment on a loan by loan basis at the time of restructuring and at each subsequent reporting date for as long as they are reported as TDRs. The impairment evaluation is based on the present value of expected future cash flows discounted at the effective interest rate of the original loan. Expected future cash flows include a discount factor representing a potential for default. Valuation allowances are recorded for the excess of the recorded investments over the result of the cash flow analysis. Loans discharged in Chapter 7 bankruptcy are reported as TDRs and also evaluated based on the present value of expected future cash flows unless evaluated based on collateral. We evaluate these loans using the expected future cash flows because we expect the borrower, not liquidation of the collateral, to be the source of repayment for the loan. Other consumer loans are not considered for restructuring. A loan restructured in a TDR is classified as an impaired loan for a minimum of one year. After one year, that loan may be reclassified out of the balance of impaired loans if the loan was restructured to yield a market rate for loans of similar credit risk at the time of restructuring and the loan is not impaired based on the terms of the restructuring agreement. TDRs may be restructured more than once. Among other requirements, a subsequent restructuring may be available for a borrower upon the expiration of temporary restructuring terms if the borrower cannot return to regular loan payments. If the borrower is experiencing an income curtailment that temporarily has reduced his/her capacity to repay, such as loss of employment, reduction of hours, non-paid leave or short term disability, a temporary restructuring is considered. If the borrower lacks the capacity to repay the loan at the current terms due to a permanent condition, a permanent restructuring is considered. In evaluating the need for a subsequent restructuring, the borrower’s ability to repay is generally assessed utilizing a debt to income and cash flow analysis. As the economy slowly improves, the need for multiple restructurings continues to linger. Loans discharged in Chapter 7 bankruptcy are classified as multiple restructurings if the loan's original terms had also been restructured by the Association. |
Fair Value, Transfer, Policy | Under U.S. GAAP, fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date and a fair value framework is established whereby assets and liabilities measured at fair value are grouped into three levels of a fair value hierarchy, based on the transparency of inputs and the reliability of assumptions used to estimate fair value. The Company’s policy is to recognize transfers between levels of the hierarchy as of the end of the reporting period in which the transfer occurs. The three levels of inputs are defined as follows: Level 1 – quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets with few transactions, or model-based valuation techniques using assumptions that are observable in the market. Level 3 – a company’s own assumptions about how market participants would price an asset or liability. |
Recent Accounting Pronouncements, Policy | Pending as of December 31, 2015 In January 2016, the FASB issued ASU 2016-01 Financial Instruments - Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments in this Update make targeted improvements as follows: 1) require equity investments not accounted for under the equity method of accounting to be measured at fair value with changes in fair value recognized in net income, 2) simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, 3) eliminate the requirement to disclose the method(s) and significant assumptions used to estimate fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, 4) require public entities to use the exit process notion when measuring fair value of financial instruments for disclosure purposes, 5) require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from the change in instrument-specific risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments, 6) require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or in accompanying notes, and 7) clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity's other deferred tax assets. The Company is currently evaluating the impact of adopting the amendments on its consolidated financial statements. In May 2015, the FASB issued ASU 2015-07 Fair Value Measurement (Topic 820) Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share. Under this amendment, investments for which fair value is measured at net value per share (or its equivalent) using the practical expedient should not be categorized in the fair value hierarchy. Entities will continue to provide information helpful to understanding the nature and risks of these investments and whether the investments, if sold, are probable of being sold at amounts different from net asset value. The amendments in this Update are effective for public companies for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU 2015-07 is not expected to have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) Amendments to the Consolidation Analysis. This amendment modifies the consolidation model for reporting legal entities under both the variable interest model and the voting interest model. This ASU will require all legal entities to reevaluate previous consolidation conclusions under the revised model and will be effective for annual periods beginning after December 15, 2015. Early adoption is permitted. A reporting entity may apply the ASU by using a modified retrospective approach (by recording a cumulative-effect adjustment to equity as of the beginning of the year of adoption) or a full retrospective approach (by restating all periods presented). The Company is currently evaluating the impact of adopting the amendments on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), affecting any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. ASC Topic 606 does not apply to rights or obligations associated with financial instruments. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In August 2015, the FASB issued ASU 2015-14 which deferred the effective dates of ASU 2014-09 by one year, permitting public entities to defer the application of this guidance to annual reporting periods and interim period within those annual periods beginning after December 15, 2017. The Company is currently evaluating the impact of adopting the amendments on its consolidated financial statements. Adopted in the quarter ended December 31, 2015 ASU 2014-04, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40), Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure reduces diversity by clarifying when an in-substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The only impact of these amendments on the Company's consolidated financial statements is the addition of a disclosure of loans in foreclosure in the Loans and Allowance for Loan Losses footnote. The Company has determined that all other recently issued accounting pronouncements will not have a material impact on the Company's consolidated financial statements or do not apply to its operations. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Summary Of Earnings Per Share | The following is a summary of the Company's earnings per share calculations. For the Three Months Ended December 31, 2015 2014 Income Shares Per share amount Income Shares Per share amount (Dollars in thousands, except per share data) Net income $ 17,851 $ 16,644 Less: income allocated to restricted stock units 179 147 Basic earnings per share: Income available to common shareholders $ 17,672 283,834,670 $ 0.06 $ 16,497 293,797,138 $ 0.06 Diluted earnings per share: Effect of dilutive potential common shares 2,505,383 2,331,675 Income available to common shareholders $ 17,672 286,340,053 $ 0.06 $ 16,497 296,128,813 $ 0.06 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following is a summary of outstanding stock options and restricted stock units that are excluded from the computation of diluted earnings per share because their inclusion would be anti-dilutive. For the Three Months Ended December 31, 2015 2014 Options to purchase shares 393,500 961,200 Restricted stock units 51,200 208,000 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Investments [Abstract] | |
Investments Securities Available For Sale | Investments available for sale are summarized as follows: December 31, 2015 Amortized Cost Gross Unrealized Fair Value Gains Losses REMICs $ 583,788 $ 314 $ (5,955 ) $ 578,147 Fannie Mae certificates 9,735 597 (73 ) 10,259 Total $ 593,523 $ 911 $ (6,028 ) $ 588,406 September 30, 2015 Amortized Gross Fair Gains Losses U.S. government and agency obligations $ 2,000 $ 2 $ — $ 2,002 REMICs 570,194 3,135 (878 ) 572,451 Fannie Mae certificates 9,897 703 — 10,600 Total $ 582,091 $ 3,840 $ (878 ) $ 585,053 |
Schedule Of Securities Continuous Unrealized Loss Position | Gross unrealized losses and the estimated fair value of REMICs, aggregated by the length of time the securities have been in a continuous loss position, at December 31, 2015 and September 30, 2015 , were as follows: December 31, 2015 Less Than 12 Months 12 Months or More Total Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Available for sale— REMICs $ 443,025 $ 4,161 $ 85,794 $ 1,794 $ 528,819 $ 5,955 Fannie Mae certificates 4,764 73 — — 4,764 73 Total $ 447,789 $ 4,234 $ 85,794 $ 1,794 $ 533,583 $ 6,028 September 30, 2015 Less Than 12 Months 12 Months or More Total Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Available for sale— REMICs $ 86,754 $ 299 $ 80,639 $ 579 $ 167,393 $ 878 Fannie Mae certificates — — — — — — Total $ 86,754 $ 299 $ 80,639 $ 579 $ 167,393 $ 878 |
Loans And Allowance For Loan 25
Loans And Allowance For Loan Losses (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Schedule Of Loans Held For Investment | Loans held for investment consist of the following: December 31, September 30, Real estate loans: Residential Core $ 9,504,202 $ 9,462,939 Residential Home Today 131,657 135,746 Home equity loans and lines of credit 1,597,289 1,625,239 Construction 55,723 55,421 Real estate loans 11,288,871 11,279,345 Other consumer loans 3,273 3,468 Add (deduct): Deferred loan expenses, net 12,020 10,112 Loans in process (32,153 ) (33,788 ) Allowance for loan losses (69,241 ) (71,554 ) Loans held for investment, net $ 11,202,770 $ 11,187,583 |
Schedule Of Recorded Investment Of Loan Receivables That Are Past Due | An age analysis of the recorded investment in loan receivables that are past due at December 31, 2015 and September 30, 2015 is summarized in the following tables. When a loan is more than one month past due on its scheduled payments, the loan is considered 30 days or more past due. Balances are adjusted for deferred loan fees or expenses and any applicable loans-in-process. 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total December 31, 2015 Real estate loans: Residential Core $ 6,998 $ 3,206 $ 21,903 $ 32,107 $ 9,476,307 $ 9,508,414 Residential Home Today 5,121 2,798 9,063 16,982 112,997 129,979 Home equity loans and lines of credit 4,337 2,193 6,046 12,576 1,594,133 1,606,709 Construction — — — — 23,636 23,636 Total real estate loans 16,456 8,197 37,012 61,665 11,207,073 11,268,738 Other consumer loans — — — — 3,273 3,273 Total $ 16,456 $ 8,197 $ 37,012 $ 61,665 $ 11,210,346 $ 11,272,011 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total September 30, 2015 Real estate loans: Residential Core 8,242 $ 4,323 $ 23,306 $ 35,871 $ 9,430,189 $ 9,466,060 Residential Home Today 5,866 2,507 9,068 17,441 116,535 133,976 Home equity loans and lines of credit 5,012 1,162 5,575 11,749 1,622,683 1,634,432 Construction — — 427 427 20,774 21,201 Total real estate loans 19,120 7,992 38,376 65,488 11,190,181 11,255,669 Other consumer loans — — — — 3,468 3,468 Total $ 19,120 $ 7,992 $ 38,376 $ 65,488 $ 11,193,649 $ 11,259,137 |
Schedule Of Recorded Investment Of Loan Receivables In Non-Accrual Status | The recorded investment of loan receivables in non-accrual status is summarized in the following table. Balances are adjusted for deferred loan fees or expenses. December 31, September 30, Real estate loans: Residential Core $ 59,947 $ 62,293 Residential Home Today 22,000 22,556 Home equity loans and lines of credit 21,016 21,514 Construction — 427 Total non-accrual loans $ 102,963 $ 106,790 |
Schedule Of The Allowance For Loan Losses | The recorded investment in loan receivables at December 31, 2015 and September 30, 2015 is summarized in the following table. The table provides details of the recorded balances according to the method of evaluation used for determining the allowance for loan losses, distinguishing between determinations made by evaluating individual loans and determinations made by evaluating groups of loans not individually evaluated. Balances of recorded investments are adjusted for deferred loan fees or expenses and any applicable loans-in-process. December 31, 2015 September 30, 2015 Individually Collectively Total Individually Collectively Total Real estate loans: Residential Core $ 115,666 $ 9,392,748 $ 9,508,414 $ 119,588 $ 9,346,472 $ 9,466,060 Residential Home Today 55,903 74,076 129,979 58,046 75,930 133,976 Home equity loans and lines of credit 32,473 1,574,236 1,606,709 34,112 1,600,320 1,634,432 Construction — 23,636 23,636 426 20,775 21,201 Total real estate loans 204,042 11,064,696 11,268,738 212,172 11,043,497 11,255,669 Other consumer loans — 3,273 3,273 — 3,468 3,468 Total $ 204,042 $ 11,067,969 $ 11,272,011 $ 212,172 $ 11,046,965 $ 11,259,137 Activity in the allowance for loan losses is summarized as follows: For the Three Months Ended December 31, 2015 Beginning Balance Provisions Charge-offs Recoveries Ending Balance Real estate loans: Residential Core $ 22,596 $ (1,764 ) $ (1,282 ) $ 918 $ 20,468 Residential Home Today 9,997 263 (826 ) 418 9,852 Home equity loans and lines of credit 38,926 522 (2,104 ) 1,563 38,907 Construction 35 (21 ) — — 14 Total $ 71,554 $ (1,000 ) $ (4,212 ) $ 2,899 $ 69,241 For the Three Months Ended December 31, 2014 Beginning Balance Provisions Charge-offs Recoveries Ending Balance Real estate loans: Residential Core $ 31,080 $ (1,724 ) $ (1,268 ) $ 629 $ 28,717 Residential Home Today 16,424 924 (1,082 ) 168 16,434 Home equity loans and lines of credit 33,831 2,980 (3,629 ) 1,413 34,595 Construction 27 (180 ) — 169 16 Total $ 81,362 $ 2,000 $ (5,979 ) $ 2,379 $ 79,762 An analysis of the allowance for loan losses at December 31, 2015 and September 30, 2015 is summarized in the following table. The analysis provides details of the allowance for loan losses according to the method of evaluation, distinguishing between allowances for loan losses determined by evaluating individual loans and allowances for loan losses determined by evaluating groups of loans collectively. December 31, 2015 September 30, 2015 Individually Collectively Total Individually Collectively Total Real estate loans: Residential Core $ 9,527 $ 10,941 $ 20,468 $ 9,354 $ 13,242 $ 22,596 Residential Home Today 4,345 5,507 9,852 4,166 5,831 9,997 Home equity loans and lines of credit 603 38,304 38,907 772 38,154 38,926 Construction — 14 14 26 9 35 Total $ 14,475 $ 54,766 $ 69,241 $ 14,318 $ 57,236 $ 71,554 |
Schedule Of Impaired Loans | The average recorded investment in impaired loans and the amount of interest income recognized during the period that the loans were impaired are summarized below. For the Three Months Ended December 31, 2015 2014 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related IVA recorded: Residential Core $ 60,931 $ 369 $ 72,542 $ 287 Residential Home Today 22,523 150 27,677 58 Home equity loans and lines of credit 21,940 64 25,498 72 Construction — — — — Total $ 105,394 $ 583 $ 125,717 $ 417 With an IVA recorded: Residential Core $ 56,696 $ 590 $ 58,785 $ 664 Residential Home Today 34,452 432 38,363 487 Home equity loans and lines of credit 11,353 77 8,145 67 Construction 213 — — — Total $ 102,714 $ 1,099 $ 105,293 $ 1,218 Total impaired loans: Residential Core $ 117,627 $ 959 $ 131,327 $ 951 Residential Home Today 56,975 582 66,040 545 Home equity loans and lines of credit 33,293 141 33,643 139 Construction 213 — — — Total $ 208,108 $ 1,682 $ 231,010 $ 1,635 The recorded investment and the unpaid principal balance of impaired loans, including those reported as TDRs, as of December 31, 2015 and September 30, 2015 are summarized as follows. Balances of recorded investments are adjusted for deferred loan fees or expenses. December 31, 2015 September 30, 2015 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related IVA recorded: Residential Core $ 59,685 $ 78,396 $ — $ 62,177 $ 80,622 $ — Residential Home Today 22,007 48,830 — 23,038 50,256 — Home equity loans and lines of credit 20,834 29,918 — 23,046 32,312 — Construction — — — — — — Total $ 102,526 $ 157,144 $ — $ 108,261 $ 163,190 $ — With an IVA recorded: Residential Core $ 55,981 $ 56,775 $ 9,527 $ 57,411 $ 58,224 $ 9,354 Residential Home Today 33,896 34,325 4,345 35,008 35,479 4,166 Home equity loans and lines of credit 11,639 11,699 603 11,066 11,034 772 Construction — — — 426 572 26 Total $ 101,516 $ 102,799 $ 14,475 $ 103,911 $ 105,309 $ 14,318 Total impaired loans: Residential Core $ 115,666 $ 135,171 $ 9,527 $ 119,588 $ 138,846 $ 9,354 Residential Home Today 55,903 83,155 4,345 58,046 85,735 4,166 Home equity loans and lines of credit 32,473 41,617 603 34,112 43,346 772 Construction — — — 426 572 26 Total $ 204,042 $ 259,943 $ 14,475 $ 212,172 $ 268,499 $ 14,318 |
Schedule Of Troubled Debt Restructured Loans | The following tables set forth the recorded investment in TDRs restructured during the periods presented, according to the types of concessions granted. For the Three Months Ended December 31, 2015 Reduction in Interest Rates Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 112 $ — $ 900 $ 1,188 $ 558 $ 1,374 $ 4,132 Residential Home Today — — 23 295 821 179 1,318 Home equity loans and lines of credit 61 225 8 1,056 121 515 1,986 Total $ 173 $ 225 $ 931 $ 2,539 $ 1,500 $ 2,068 $ 7,436 For the Three Months Ended December 31, 2014 Reduction in Interest Rates Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 766 $ — $ 978 $ 1,858 $ 1,269 $ 1,879 $ 6,750 Residential Home Today 82 — 1,159 64 1,313 167 2,785 Home equity loans and lines of credit — 652 — 477 44 349 1,522 Total $ 848 $ 652 $ 2,137 $ 2,399 $ 2,626 $ 2,395 $ 11,057 The recorded investment in TDRs by type of concession as of December 31, 2015 and September 30, 2015 is shown in the tables below. December 31, 2015 Reduction in Interest Rates Payment Extensions Forbearance or Other Actions Multiple Concessions Multiple Restructurings Bankruptcy Total Residential Core $ 14,978 $ 881 $ 9,085 $ 22,072 $ 22,352 $ 30,916 $ 100,284 Residential Home Today 6,956 7 5,361 12,168 21,598 6,076 52,166 Home equity loans and lines of credit 153 3,246 502 4,972 1,040 13,246 23,159 Total $ 22,087 $ 4,134 $ 14,948 $ 39,212 $ 44,990 $ 50,238 $ 175,609 September 30, 2015 Reduction in Interest Rates Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 15,743 $ 934 $ 8,252 $ 22,211 $ 22,594 $ 32,215 $ 101,949 Residential Home Today 7,734 12 5,643 12,302 21,928 6,272 53,891 Home equity loans and lines of credit 96 3,253 509 4,214 909 13,438 22,419 Total $ 23,573 $ 4,199 $ 14,404 $ 38,727 $ 45,431 $ 51,925 $ 178,259 Below summarizes the information on TDRs restructured within the previous 12 months of the period listed for which there was a subsequent payment default, at least 30 days past due on one scheduled payment, during the period presented. For the Three Months Ended December 31, 2015 2014 TDRs That Subsequently Defaulted Number of Contracts Recorded Investment Number of Contracts Recorded Investment (Dollars in thousands) (Dollars in thousands) Residential Core 28 $ 2,527 28 $ 2,555 Residential Home Today 20 998 33 1,453 Home equity loans and lines of credit 41 1,100 15 418 Total 89 $ 4,625 76 $ 4,426 |
Schedule Of Credit Quality Of Residential Loan Receivables By An Internally Assigned Grade | The following tables provide information about the credit quality of residential loan receivables by an internally assigned grade. Balances are adjusted for deferred loan fees or expenses and any applicable LIP. Pass Special Mention Substandard Loss Total December 31, 2015 Real Estate Loans: Residential Core $ 9,444,086 $ — $ 64,328 $ — $ 9,508,414 Residential Home Today 106,762 — 23,217 — 129,979 Home equity loans and lines of credit 1,577,865 4,724 24,120 — 1,606,709 Construction 23,636 — — — 23,636 Total $ 11,152,349 $ 4,724 $ 111,665 $ — $ 11,268,738 Pass Special Mention Substandard Loss Total September 30, 2015 Real Estate Loans: Residential Core $ 9,399,409 $ — $ 66,651 $ — $ 9,466,060 Residential Home Today 110,105 — 23,871 — 133,976 Home equity loans and lines of credit 1,604,226 4,279 25,927 — 1,634,432 Construction 20,774 — 427 — 21,201 Total $ 11,134,514 $ 4,279 $ 116,876 $ — $ 11,255,669 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Deposits [Abstract] | |
Summary Of Deposit Account Balances | Deposit account balances are summarized as follows: December 31, September 30, Negotiable order of withdrawal accounts $ 1,023,173 $ 994,447 Savings accounts 1,605,486 1,610,944 Certificates of deposit 5,674,806 5,678,618 8,303,465 8,284,009 Accrued interest 1,897 1,849 Total deposits $ 8,305,362 $ 8,285,858 |
Other Comprehensive Income (L27
Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The change in accumulated other comprehensive income (loss) by component is as follows: For the Three Months Ended For the Three Months Ended December 31, 2015 December 31, 2014 Unrealized gains (losses) on securities available for sale Cash flow hedges Defined Benefit Plan Total Unrealized gains (losses) on securities available for sale Cash flow hedges Defined Benefit Plan Total Balance at beginning of period $ 1,926 $ — $ (14,991 ) $ (13,065 ) $ (1,092 ) $ — $ (9,700 ) $ (10,792 ) Other comprehensive (loss) income before reclassifications, net of tax benefit (expense) of $2,803 and $(233) (5,252 ) 47 — (5,205 ) 433 — — 433 Amounts reclassified from accumulated other comprehensive income (loss), net of tax benefit of $141 and $66 — 8 250 258 — — 124 124 Other comprehensive (loss) income (5,252 ) 55 250 (4,947 ) 433 — 124 557 Balance at end of period $ (3,326 ) $ 55 $ (14,741 ) $ (18,012 ) $ (659 ) $ — $ (9,576 ) $ (10,235 ) |
Reclassification Out Of Accumulated Other Comprehensive Income (Loss) Included In Net Income | The following table presents the reclassification adjustment out of accumulated other comprehensive income (loss) included in net income and the corresponding line item on the consolidated statements of income for the periods indicated: Amounts Reclassified from Accumulated Other Comprehensive Income Details about Accumulated Other Comprehensive Income Components For the Three Months Ended December 31, Line Item in the Statement of Income 2015 2014 Cash flow hedges: Interest expense, effective portion 13 — Interest expense Income tax benefit (5 ) — Income tax expense Net of income tax benefit 8 — Amortization of pension plan: Actuarial loss $ 386 $ 190 (a) Income tax benefit (136 ) (66 ) Income tax expense Net of income tax benefit $ 250 $ 124 Total reclassifications for the period $ 258 $ 124 (a) This item is included in the computation of net period pension cost. See Note 8. Defined Benefit Plan for additional disclosure. |
Defined Benefit Plan (Tables)
Defined Benefit Plan (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Components Of Net Periodic Benefit Cost Recognized | The components, including an estimated settlement adjustment due to expected lump sum payments exceeding the interest cost for the year, of net periodic cost recognized in the statements of income are as follows: Three Months Ended December 31, 2015 2014 Interest cost $ 822 $ 783 Expected return on plan assets (1,028 ) (1,104 ) Amortization of net loss 386 190 Estimated net loss due to settlement — 228 Net periodic cost $ 180 $ 97 |
Commitments And Contingent Li29
Commitments And Contingent Liabilities (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule Of Commitments To Originate And Unfunded Commitments | At December 31, 2015 , the Company had commitments to originate loans as follows: Fixed-rate mortgage loans $ 288,938 Adjustable-rate mortgage loans 307,452 Equity loans and lines of credit including bridge loans 34,769 Total $ 631,159 At December 31, 2015 , the Company had unfunded commitments outstanding as follows: Equity lines of credit $ 1,200,471 Construction loans 32,153 Private equity investments 12,941 Total $ 1,245,565 |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Of Assets And Liabilities Measured On Recurring Basis | Assets carried at fair value on a recurring basis in the Consolidated Statements of Condition at December 31, 2015 and September 30, 2015 are summarized below. There were no liabilities carried at fair value on a recurring basis at December 31, 2015 and September 30, 2015, respectively. Recurring Fair Value Measurements at Reporting Date Using December 31, 2015 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Assets Investment securities available for sale: REMIC's $ 578,147 $ — $ 578,147 $ — Fannie Mae certificates 10,259 — 10,259 — Derivatives: Interest rate lock commitments 84 — — 84 Interest rate swaps 85 — 85 — Total $ 588,575 $ — $ 588,491 $ 84 Recurring Fair Value Measurements at Reporting Date Using September 30, 2015 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Assets Investment securities available for sale: U.S. government and agency obligations $ 2,002 $ — $ 2,002 $ — REMIC's 572,451 — 572,451 — Fannie Mae certificates 10,600 — 10,600 — Derivatives: Interest rate lock commitments 79 — — 79 Total $ 585,132 $ — $ 585,053 $ 79 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The table below presents a reconciliation of the beginning and ending balances and the location within the Consolidated Statements of Income where gains (losses) due to changes in fair value are recognized on interest rate lock commitments which are measured at fair value on a recurring basis using significant unobservable inputs (Level 3). Three Months Ended December 31, 2015 2014 Beginning balance $ 79 $ 59 Gain during the period due to changes in fair value: Included in other non-interest income 5 33 Ending balance $ 84 $ 92 Change in unrealized gains for the period included in earnings for assets held at end of the reporting date $ 84 $ 92 |
Assets Measured At Fair Value On A Nonrecurring Basis | Summarized in the tables below are those assets measured at fair value on a nonrecurring basis. This includes loans held for investment that are individually evaluated for impairment, excluding performing TDRs valued using the present value of cash flow method, and properties included in real estate owned that are carried at fair value less estimated costs to dispose at the reporting date. Nonrecurring Fair Value Measurements at Reporting Date Using December 31, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Impaired loans, net of allowance $ 102,259 $ — $ — $ 102,259 Real estate owned (1) 10,010 — — 10,010 Total $ 112,269 $ — $ — $ 112,269 (1) Amounts represent fair value measurements of properties before deducting estimated costs to dispose. Nonrecurring Fair Value Measurements at Reporting Date Using September 30, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Impaired loans, net of allowance $ 108,194 $ — $ — $ 108,194 Real estate owned (1) 15,094 — — 15,094 Total $ 123,288 $ — $ — $ 123,288 (1) Amounts represent fair value measurements of properties before deducting estimated costs to dispose. |
Fair Value Inputs, Assets, Quantitative Information | The following provides quantitative information about significant unobservable inputs categorized within Level 3 of the Fair Value Hierarchy. Fair Value Weighted 12/31/2015 Valuation Technique(s) Unobservable Input Range Average Impaired loans, net of allowance $102,259 Market comparables of collateral discounted to estimated net proceeds Discount appraised value to estimated net proceeds based on historical experience: • Residential Properties 0 - 24% 8.1% Interest rate lock commitments $84 Quoted Secondary Market pricing Closure rate 0 - 100% 87.6% Fair Value Weighted 9/30/2015 Valuation Technique(s) Unobservable Input Range Average Impaired loans, net of allowance $108,194 Market comparables of collateral discounted to estimated net proceeds Discount appraised value to estimated net proceeds based on historical experience: • Residential Properties 0 - 24% 8.0% Interest rate lock commitments $79 Quoted Secondary Market pricing Closure rate 0 - 100% 78.7% |
Estimated Fair Value Of Financial Instruments | The following tables present the estimated fair value of the Company’s financial instruments. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required to interpret market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. December 31, 2015 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 Assets: Cash and due from banks $ 30,787 $ 30,787 $ 30,787 $ — $ — Interest earning cash equivalents 128,835 128,835 128,835 — — Investment securities available for sale 588,406 588,406 — 588,406 — Mortgage loans held for sale 374 382 — 382 — Loans, net: Mortgage loans held for investment 11,199,497 11,520,344 — — 11,520,344 Other loans 3,273 3,401 — — 3,401 Federal Home Loan Bank stock 69,470 69,470 N/A — — Private equity investments 267 267 — — 267 Accrued interest receivable 32,271 32,271 — 32,271 — Derivatives 169 169 — 85 84 Liabilities: NOW and passbook accounts $ 2,628,659 $ 2,628,659 $ — $ 2,628,659 $ — Certificates of deposit 5,676,703 5,578,162 — 5,578,162 — Borrowed funds 2,164,225 2,175,499 — 2,175,499 — Borrowers’ advances for taxes and insurance 81,421 81,421 — 81,421 — Principal, interest and escrow owed on loans serviced 45,495 45,495 — 45,495 — September 30, 2015 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 Assets: Cash and due from banks $ 22,428 $ 22,428 $ 22,428 $ — $ — Interest earning cash equivalents 132,941 132,941 132,941 — — Investment securities available for sale 585,053 585,053 — 585,053 — Mortgage loans held for sale 116 119 — 119 — Loans, net: Mortgage loans held for investment 11,184,115 11,650,701 — — 11,650,701 Other loans 3,468 3,645 — — 3,645 Federal Home Loan Bank stock 69,470 69,470 N/A — — Private equity investments 255 255 — — 255 Accrued interest receivable 32,490 32,490 — 32,490 — Derivatives 79 79 — — 79 Liabilities: NOW and passbook accounts $ 2,605,391 $ 2,605,391 $ — $ 2,605,391 $ — Certificates of deposit 5,680,467 5,634,860 — 5,634,860 — Borrowed funds 2,168,627 2,196,476 — 2,196,476 — Borrowers’ advances for taxes and insurance 86,292 86,292 — 86,292 — Principal, interest and escrow owed on loans serviced 49,493 49,493 — 49,493 — |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Summary of Derivative Instruments [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table provides the locations within the Consolidated Statements of Condition and fair values for all derivative instruments. The Company had no derivatives designated as hedging instruments at September 30, 2015 . Asset Derivatives December 31, 2015 September 30, 2015 Location Fair Value Location Fair Value Derivatives designated as hedging instruments Cash flow hedges: Interest rate swaps Other Assets $ 85 Other Assets $ — Derivatives not designated as hedging instruments Interest rate lock commitments Other Assets $ 84 Other Assets $ 79 |
Schedule of Effect of Derivative Instruments, Gain (Loss) in Statement of Income | The following table presents the net gains and losses recorded within the Consolidated Statements of Income and the Consolidated Statements of Comprehensive Income relating to derivative instruments. Three Months Ended Location of Gain or (Loss) December 31, Recognized in Income 2015 2014 Cash flow hedges Amount of gain recognized, effective portion Other comprehensive income $ 72 $ — Amount of loss reclassified from AOCI Interest expense (13 ) — Amount of ineffectiveness recognized Other non-interest income — — Derivatives not designated as hedging instruments Interest rate lock commitments Other non-interest income $ 5 $ 33 Forward commitments for the sale of mortgage loans Net gain on the sale of loans — 14 Total $ 5 $ 47 |
Basis Of Presentation (Details)
Basis Of Presentation (Details) | Dec. 31, 2015 |
Third Federal Savings, MHC | Common Stock | |
Percentage of the Company's outstanding shares held by Third Federal Savings, MHC | 79.00% |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - shares | Dec. 31, 2015 | Dec. 31, 2014 |
Earnings Per Share [Abstract] | ||
Shares held by Third Federal Savings, MHC (in shares) | 227,119,132 | |
Employee Stock Ownership Plan (ESOP), neither allocated nor committed to be released to participants (in shares) | 6,066,756 | 6,500,096 |
Earnings Per Share (Summary Of
Earnings Per Share (Summary Of Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | ||
Net income | $ 17,851 | $ 16,644 |
Less: income allocated to restricted stock units | 179 | 147 |
Income available to common shareholders | $ 17,672 | $ 16,497 |
Income available to common shareholders, Shares | 283,834,670 | 293,797,138 |
Income available to common shareholders, per share amount, basic | $ 0.06 | $ 0.06 |
Effect of dilutive potential common shares | 2,505,383 | 2,331,675 |
Income available to common shareholders | $ 17,672 | $ 16,497 |
Income available to common shareholders, Shares | 286,340,053 | 296,128,813 |
Income available to common shareholders, per share amount, diluted | $ 0.06 | $ 0.06 |
Earnings Per Share Earnings Per
Earnings Per Share Earnings Per Share (Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share) (Details) - shares | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Options to purchase shares | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Options to purchase shares and restricted stock units (antidilutive) (in shares) | 393,500 | 961,200 |
Restricted Stock Units | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Options to purchase shares and restricted stock units (antidilutive) (in shares) | 51,200 | 208,000 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) - U.S. government and agency obligations $ in Thousands | Sep. 30, 2015USD ($) |
Schedule of Available For Sale Securities [Line Items] | |
U.S. government and agency obligations available-for-sale securities due within one year, amortized cost | $ 2,000 |
U.S. government and agency obligations available-for-sale securities due within one year, fair value | $ 2,002 |
Investment Securities (Investme
Investment Securities (Investments Securities Available For Sale) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Schedule of Available For Sale Securities [Line Items] | ||
Investments securities available for sale, Amortized Cost | $ 593,523 | $ 582,091 |
Available-for-sale securities, gross unrealized gain | 911 | 3,840 |
Available-for-sale securities, gross unrealized losses | (6,028) | (878) |
Available-for-sale Securities | 588,406 | 585,053 |
U.S. government and agency obligations | ||
Schedule of Available For Sale Securities [Line Items] | ||
Investments securities available for sale, Amortized Cost | 2,000 | |
Available-for-sale securities, gross unrealized gain | 2 | |
Available-for-sale securities, gross unrealized losses | 0 | |
Available-for-sale Securities | 2,002 | |
REMIC's | ||
Schedule of Available For Sale Securities [Line Items] | ||
Investments securities available for sale, Amortized Cost | 583,788 | 570,194 |
Available-for-sale securities, gross unrealized gain | 314 | 3,135 |
Available-for-sale securities, gross unrealized losses | (5,955) | (878) |
Available-for-sale Securities | 578,147 | 572,451 |
Fannie Mae Certificates | ||
Schedule of Available For Sale Securities [Line Items] | ||
Investments securities available for sale, Amortized Cost | 9,735 | 9,897 |
Available-for-sale securities, gross unrealized gain | 597 | 703 |
Available-for-sale securities, gross unrealized losses | (73) | 0 |
Available-for-sale Securities | $ 10,259 | $ 10,600 |
Investment Securities (Invest38
Investment Securities (Investment Securities Held at a Continuous Loss) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Schedule of Available For Sale Securities [Line Items] | ||
Available-for-sale securities, Less Than Twelve Months, Estimated Fair Value | $ 447,789 | $ 86,754 |
Available-for-sale Securities, Less Than Twelve Months, Unrealized Loss | 4,234 | 299 |
Available-for-sale securities, Twelve Months or Longer, Estimated Fair Value | 85,794 | 80,639 |
Available-for-sale securities, Twelve Months or Longer, Unrealized Loss | 1,794 | 579 |
Available-for-sale securities, Total Estimated Fair Value | 533,583 | 167,393 |
Available-for-sale securities, Total Unrealized Losses | 6,028 | 878 |
REMIC's | ||
Schedule of Available For Sale Securities [Line Items] | ||
Available-for-sale securities, Less Than Twelve Months, Estimated Fair Value | 443,025 | 86,754 |
Available-for-sale Securities, Less Than Twelve Months, Unrealized Loss | 4,161 | 299 |
Available-for-sale securities, Twelve Months or Longer, Estimated Fair Value | 85,794 | 80,639 |
Available-for-sale securities, Twelve Months or Longer, Unrealized Loss | 1,794 | 579 |
Available-for-sale securities, Total Estimated Fair Value | 528,819 | 167,393 |
Available-for-sale securities, Total Unrealized Losses | 5,955 | 878 |
Fannie Mae Certificates | ||
Schedule of Available For Sale Securities [Line Items] | ||
Available-for-sale securities, Less Than Twelve Months, Estimated Fair Value | 4,764 | 0 |
Available-for-sale Securities, Less Than Twelve Months, Unrealized Loss | 73 | 0 |
Available-for-sale securities, Twelve Months or Longer, Estimated Fair Value | 0 | 0 |
Available-for-sale securities, Twelve Months or Longer, Unrealized Loss | 0 | 0 |
Available-for-sale securities, Total Estimated Fair Value | 4,764 | 0 |
Available-for-sale securities, Total Unrealized Losses | $ 73 | $ 0 |
Loans And Allowance For Loan 39
Loans And Allowance For Loan Losses (Narrative) (Details) $ in Thousands | 3 Months Ended | ||
Dec. 31, 2015USD ($)loans | Dec. 31, 2014USD ($) | Sep. 30, 2015USD ($) | |
Loan Portfolio [Line Items] | |||
Mortgage loans held-for-sale | $ 374 | $ 116 | |
Real estate loans | 11,288,871 | 11,279,345 | |
Loans in process of foreclosure | $ 26,345 | 28,864 | |
Residential loans, collateral evaluated for charge-off, number of days past due | 180 days | ||
Home equity lines of credit equity loans and residential loans modified in a troubled debt restructuring charge-offs, days past due | 90 days | ||
All classes of loans collateral evaluated for charge-off, sheriff sale scheduled number of days to sell | 60 days | ||
All classes of loans, all borrowers filed Chapter 7 Bankruptcy, collateral evaluated for charge-off, days since notification | 60 days | ||
All classes of loans borrower filed bankruptcy, collateral evaluated for charge-off, days past due | 30 days | ||
Interest income on impaired loans recognized using a cash-basis method | $ 449 | $ 277 | |
Troubled debt restructuring reclassed from impaired | loans | 0 | ||
Other consumer loans | $ 3,273 | 3,468 | |
Number of days passed due for a residential loan to be considered uncollectible | 1500 days | ||
Nonperforming | |||
Loan Portfolio [Line Items] | |||
Other consumer loans | $ 0 | $ 0 | |
Residential Real Estate Mortgage Loans | Florida | |||
Loan Portfolio [Line Items] | |||
Residential real estate loans held, percent | 17.00% | 17.00% | |
Residential Real Estate Mortgage Loans | Ohio | |||
Loan Portfolio [Line Items] | |||
Residential real estate loans held, percent | 63.00% | ||
Home Equity Loans And Lines Of Credit | |||
Loan Portfolio [Line Items] | |||
Real estate loans | $ 1,597,289 | $ 1,625,239 | |
Home Equity Loans And Lines Of Credit | Florida | |||
Loan Portfolio [Line Items] | |||
Residential real estate loans held, percent | 26.00% | ||
Home Equity Loans And Lines Of Credit | Ohio | |||
Loan Portfolio [Line Items] | |||
Residential real estate loans held, percent | 39.00% | 39.00% | |
Home Equity Loans And Lines Of Credit | California | |||
Loan Portfolio [Line Items] | |||
Residential real estate loans held, percent | 13.00% | 13.00% | |
Residential Home Today | |||
Loan Portfolio [Line Items] | |||
Real estate loans | $ 131,657 | $ 135,746 | |
Residential Home Today Loans Originated Prior To March 27, 2009 | |||
Loan Portfolio [Line Items] | |||
Real estate loans | $ 128,617 | $ 132,762 |
Loans And Allowance For Loan 40
Loans And Allowance For Loan Losses (Loans Held For Investment) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Loan Portfolio [Line Items] | ||
Real estate loans | $ 11,288,871 | $ 11,279,345 |
Other consumer loans | 3,273 | 3,468 |
Deferred loan expense, net | 12,020 | 10,112 |
LIP | (32,153) | (33,788) |
Allowance for loan losses | (69,241) | (71,554) |
Loans, net | 11,202,770 | 11,187,583 |
Residential Core | ||
Loan Portfolio [Line Items] | ||
Real estate loans | 9,504,202 | 9,462,939 |
Residential Home Today | ||
Loan Portfolio [Line Items] | ||
Real estate loans | 131,657 | 135,746 |
Home Equity Loans And Lines Of Credit | ||
Loan Portfolio [Line Items] | ||
Real estate loans | 1,597,289 | 1,625,239 |
Construction | ||
Loan Portfolio [Line Items] | ||
Real estate loans | $ 55,723 | $ 55,421 |
Loans And Allowance For Loan 41
Loans And Allowance For Loan Losses (Schedule Of Recorded Investment In Loan Receivables That Are Past Due) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2015 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Impaired Financing Receivable, Interest Income, Cash Basis Method | $ 449 | $ 277 | |
Total past due | 61,665 | $ 65,488 | |
Current | 11,210,346 | 11,193,649 | |
Total | 11,272,011 | 11,259,137 | |
Residential Core | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 32,107 | 35,871 | |
Current | 9,476,307 | 9,430,189 | |
Total | 9,508,414 | 9,466,060 | |
Residential Home Today | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 16,982 | 17,441 | |
Current | 112,997 | 116,535 | |
Total | 129,979 | 133,976 | |
Home Equity Loans And Lines Of Credit | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 12,576 | 11,749 | |
Current | 1,594,133 | 1,622,683 | |
Total | 1,606,709 | 1,634,432 | |
Construction | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | 427 | |
Current | 23,636 | 20,774 | |
Total | 23,636 | 21,201 | |
Total Real Estate Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 61,665 | 65,488 | |
Current | 11,207,073 | 11,190,181 | |
Total | 11,268,738 | 11,255,669 | |
Other Consumer Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | 0 | |
Current | 3,273 | 3,468 | |
Total | 3,273 | 3,468 | |
30 to 59 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 16,456 | 19,120 | |
30 to 59 Days Past Due | Residential Core | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 6,998 | 8,242 | |
30 to 59 Days Past Due | Residential Home Today | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 5,121 | 5,866 | |
30 to 59 Days Past Due | Home Equity Loans And Lines Of Credit | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 4,337 | 5,012 | |
30 to 59 Days Past Due | Construction | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | 0 | |
30 to 59 Days Past Due | Total Real Estate Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 16,456 | 19,120 | |
30 to 59 Days Past Due | Other Consumer Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | 0 | |
60 to 89 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 8,197 | 7,992 | |
60 to 89 Days Past Due | Residential Core | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 3,206 | 4,323 | |
60 to 89 Days Past Due | Residential Home Today | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 2,798 | 2,507 | |
60 to 89 Days Past Due | Home Equity Loans And Lines Of Credit | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 2,193 | 1,162 | |
60 to 89 Days Past Due | Construction | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | 0 | |
60 to 89 Days Past Due | Total Real Estate Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 8,197 | 7,992 | |
60 to 89 Days Past Due | Other Consumer Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | 0 | |
Equal to Greater than 90 Days Past Due | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 37,012 | 38,376 | |
Equal to Greater than 90 Days Past Due | Residential Core | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 21,903 | 23,306 | |
Equal to Greater than 90 Days Past Due | Residential Home Today | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 9,063 | 9,068 | |
Equal to Greater than 90 Days Past Due | Home Equity Loans And Lines Of Credit | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 6,046 | 5,575 | |
Equal to Greater than 90 Days Past Due | Construction | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 0 | 427 | |
Equal to Greater than 90 Days Past Due | Total Real Estate Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | 37,012 | 38,376 | |
Equal to Greater than 90 Days Past Due | Other Consumer Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total past due | $ 0 | $ 0 |
Loans And Allowance For Loan 42
Loans And Allowance For Loan Losses (Schedule Of Recorded Investment Of Loan Receivables In Non-Accrual Status) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Financing Receivable, Recorded Investment, Past Due, Nonaccrual Status [Line Items] | ||
Total non-accrual loans | $ 102,963 | $ 106,790 |
Performing | ||
Financing Receivable, Recorded Investment, Past Due, Nonaccrual Status [Line Items] | ||
Total non-accrual loans | 65,951 | 68,415 |
Performing Chapter 7 Bankruptcy | ||
Financing Receivable, Recorded Investment, Past Due, Nonaccrual Status [Line Items] | ||
Total non-accrual loans | 43,623 | 45,575 |
Residential Core | ||
Financing Receivable, Recorded Investment, Past Due, Nonaccrual Status [Line Items] | ||
Total non-accrual loans | 59,947 | 62,293 |
Residential Home Today | ||
Financing Receivable, Recorded Investment, Past Due, Nonaccrual Status [Line Items] | ||
Total non-accrual loans | 22,000 | 22,556 |
Home Equity Loans And Lines Of Credit | ||
Financing Receivable, Recorded Investment, Past Due, Nonaccrual Status [Line Items] | ||
Total non-accrual loans | 21,016 | 21,514 |
Construction | ||
Financing Receivable, Recorded Investment, Past Due, Nonaccrual Status [Line Items] | ||
Total non-accrual loans | $ 0 | $ 427 |
Loans And Allowance For Loan 43
Loans And Allowance For Loan Losses (Schedule Of Recorded Investment In Loan Receivables According To The Method Of Evaluation) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment, Individually Evaluated | $ 204,042 | $ 212,172 |
Recorded Investment, Collectively Evaluated | 11,067,969 | 11,046,965 |
Total | 11,272,011 | 11,259,137 |
Residential Core | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment, Individually Evaluated | 115,666 | 119,588 |
Recorded Investment, Collectively Evaluated | 9,392,748 | 9,346,472 |
Total | 9,508,414 | 9,466,060 |
Residential Home Today | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment, Individually Evaluated | 55,903 | 58,046 |
Recorded Investment, Collectively Evaluated | 74,076 | 75,930 |
Total | 129,979 | 133,976 |
Home Equity Loans And Lines Of Credit | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment, Individually Evaluated | 32,473 | 34,112 |
Recorded Investment, Collectively Evaluated | 1,574,236 | 1,600,320 |
Total | 1,606,709 | 1,634,432 |
Construction | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment, Individually Evaluated | 0 | 426 |
Recorded Investment, Collectively Evaluated | 23,636 | 20,775 |
Total | 23,636 | 21,201 |
Total Real Estate Loans | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment, Individually Evaluated | 204,042 | 212,172 |
Recorded Investment, Collectively Evaluated | 11,064,696 | 11,043,497 |
Total | 11,268,738 | 11,255,669 |
Other Consumer Loans | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment, Individually Evaluated | 0 | 0 |
Recorded Investment, Collectively Evaluated | 3,273 | 3,468 |
Total | $ 3,273 | $ 3,468 |
Loans And Allowance For Loan 44
Loans And Allowance For Loan Losses (Schedule Of Allowance For Loan Losses According To The Method Of Evaluation) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Individually Evaluated | $ 14,475 | $ 14,318 | ||
Allowance for loan losses, Collectively Evaluated | 54,766 | 57,236 | ||
Allowance for credit losses | 69,241 | |||
Present Value of Cash Flows | Performing | Troubled Debt Restructuring | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Individually Evaluated | 14,424 | 14,117 | ||
Residential Core | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Individually Evaluated | 9,527 | 9,354 | ||
Allowance for loan losses, Collectively Evaluated | 10,941 | 13,242 | ||
Allowance for credit losses | 20,468 | 22,596 | $ 28,717 | $ 31,080 |
Residential Home Today | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Individually Evaluated | 4,345 | 4,166 | ||
Allowance for loan losses, Collectively Evaluated | 5,507 | 5,831 | ||
Allowance for credit losses | 9,852 | 9,997 | 16,434 | 16,424 |
Home Equity Loans And Lines Of Credit | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Individually Evaluated | 603 | 772 | ||
Allowance for loan losses, Collectively Evaluated | 38,304 | 38,154 | ||
Allowance for credit losses | 38,907 | 38,926 | 34,595 | 33,831 |
Construction | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Individually Evaluated | 0 | 26 | ||
Allowance for loan losses, Collectively Evaluated | 14 | 9 | ||
Allowance for credit losses | 14 | 35 | 16 | 27 |
Total Real Estate Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for credit losses | $ 69,241 | $ 71,554 | $ 79,762 | $ 81,362 |
Loans And Allowance For Loan 45
Loans And Allowance For Loan Losses Loans And Allowance For Loan Losses (Loans with Private Mortgage Insurance Narrative) (Details) (Details) $ in Thousands | 1 Months Ended | 3 Months Ended | ||
Apr. 30, 2015 | Mar. 31, 2014 | Dec. 31, 2015USD ($)loans | Sep. 30, 2015USD ($) | |
Loan Portfolio [Line Items] | ||||
Real estate loans | $ 11,288,871 | $ 11,279,345 | ||
Loans were covered by mortgage insurers that were deferring claim payments or which we assessed as being non-investment grade, number | loans | 0 | |||
PMIC Provided Mortgage Insurance Coverage | ||||
Loan Portfolio [Line Items] | ||||
PMI Claims Payments, Percentage Of Claim Paid | 70.00% | 67.00% | ||
Real estate loans | $ 121,160 | 132,857 | ||
MGIC Provided Mortgage Insurance Coverage | ||||
Loan Portfolio [Line Items] | ||||
Real estate loans | $ 53,056 | $ 56,898 | ||
Residential Home Today | ||||
Loan Portfolio [Line Items] | ||||
Real Estate Loans Covered By Private Mortgage Insurance, Percentage | 32.00% | 34.00% | ||
Real estate loans | $ 131,657 | $ 135,746 | ||
Performing | PMIC Provided Mortgage Insurance Coverage | ||||
Loan Portfolio [Line Items] | ||||
Real estate loans | 111,066 | 122,025 | ||
Performing | MGIC Provided Mortgage Insurance Coverage | ||||
Loan Portfolio [Line Items] | ||||
Real estate loans | $ 52,631 | $ 56,295 |
Loans And Allowance For Loan 46
Loans And Allowance For Loan Losses (Schedule Of Recorded Investment And The Unpaid Principal Balance Of Impaired Loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, with No Related IVA, Recorded Investment | $ 102,526 | $ 108,261 |
Impaired Loans, with No Related IVA, Unpaid Principal Balance | 157,144 | 163,190 |
Impaired Loans, with an IVA, Recorded Investment | 101,516 | 103,911 |
Impaired Loans, with an IVA, Unpaid Principal Balance | 102,799 | 105,309 |
Impaired Loans, Recorded Investment | 204,042 | 212,172 |
Impaired Loans, Unpaid Principal Balance | 259,943 | 268,499 |
Allowance for loan losses, Individually Evaluated | 14,475 | 14,318 |
Troubled Debt Restructuring | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment | 175,609 | 178,259 |
Troubled Debt Restructuring | Performing | Pass | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment | 100,973 | 103,390 |
Residential Core | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, with No Related IVA, Recorded Investment | 59,685 | 62,177 |
Impaired Loans, with No Related IVA, Unpaid Principal Balance | 78,396 | 80,622 |
Impaired Loans, with an IVA, Recorded Investment | 55,981 | 57,411 |
Impaired Loans, with an IVA, Unpaid Principal Balance | 56,775 | 58,224 |
Impaired Loans, Recorded Investment | 115,666 | 119,588 |
Impaired Loans, Unpaid Principal Balance | 135,171 | 138,846 |
Allowance for loan losses, Individually Evaluated | 9,527 | 9,354 |
Residential Home Today | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, with No Related IVA, Recorded Investment | 22,007 | 23,038 |
Impaired Loans, with No Related IVA, Unpaid Principal Balance | 48,830 | 50,256 |
Impaired Loans, with an IVA, Recorded Investment | 33,896 | 35,008 |
Impaired Loans, with an IVA, Unpaid Principal Balance | 34,325 | 35,479 |
Impaired Loans, Recorded Investment | 55,903 | 58,046 |
Impaired Loans, Unpaid Principal Balance | 83,155 | 85,735 |
Allowance for loan losses, Individually Evaluated | 4,345 | 4,166 |
Home Equity Loans And Lines Of Credit | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, with No Related IVA, Recorded Investment | 20,834 | 23,046 |
Impaired Loans, with No Related IVA, Unpaid Principal Balance | 29,918 | 32,312 |
Impaired Loans, with an IVA, Recorded Investment | 11,639 | 11,066 |
Impaired Loans, with an IVA, Unpaid Principal Balance | 11,699 | 11,034 |
Impaired Loans, Recorded Investment | 32,473 | 34,112 |
Impaired Loans, Unpaid Principal Balance | 41,617 | 43,346 |
Allowance for loan losses, Individually Evaluated | 603 | 772 |
Construction | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, with No Related IVA, Recorded Investment | 0 | 0 |
Impaired Loans, with No Related IVA, Unpaid Principal Balance | 0 | 0 |
Impaired Loans, with an IVA, Recorded Investment | 0 | 426 |
Impaired Loans, with an IVA, Unpaid Principal Balance | 0 | 572 |
Impaired Loans, Recorded Investment | 0 | 426 |
Impaired Loans, Unpaid Principal Balance | 0 | 572 |
Allowance for loan losses, Individually Evaluated | 0 | 26 |
Mortgage Receivable | Troubled Debt Restructuring | Nonperforming | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment | $ 15,222 | $ 14,971 |
Loans And Allowance For Loan 47
Loans And Allowance For Loan Losses (Schedule Of Average Recorded Investment In Impaired Loans And The Amount Of Interest Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, with No Related IVA, Average Recorded Investment | $ 105,394 | $ 125,717 |
Impaired Loans, with No Related IVA, Interest Income Recognized | 583 | 417 |
Impaired Loans, with an IVA, Average Recorded Investment | 102,714 | 105,293 |
Impaired Loans, with an IVA, Interest Income Recognized | 1,099 | 1,218 |
Impaired Loans, Average Recorded Investment | 208,108 | 231,010 |
Impaired Loans, Interest Income Recognized | 1,682 | 1,635 |
Residential Core | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, with No Related IVA, Average Recorded Investment | 60,931 | 72,542 |
Impaired Loans, with No Related IVA, Interest Income Recognized | 369 | 287 |
Impaired Loans, with an IVA, Average Recorded Investment | 56,696 | 58,785 |
Impaired Loans, with an IVA, Interest Income Recognized | 590 | 664 |
Impaired Loans, Average Recorded Investment | 117,627 | 131,327 |
Impaired Loans, Interest Income Recognized | 959 | 951 |
Residential Home Today | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, with No Related IVA, Average Recorded Investment | 22,523 | 27,677 |
Impaired Loans, with No Related IVA, Interest Income Recognized | 150 | 58 |
Impaired Loans, with an IVA, Average Recorded Investment | 34,452 | 38,363 |
Impaired Loans, with an IVA, Interest Income Recognized | 432 | 487 |
Impaired Loans, Average Recorded Investment | 56,975 | 66,040 |
Impaired Loans, Interest Income Recognized | 582 | 545 |
Home Equity Loans And Lines Of Credit | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, with No Related IVA, Average Recorded Investment | 21,940 | 25,498 |
Impaired Loans, with No Related IVA, Interest Income Recognized | 64 | 72 |
Impaired Loans, with an IVA, Average Recorded Investment | 11,353 | 8,145 |
Impaired Loans, with an IVA, Interest Income Recognized | 77 | 67 |
Impaired Loans, Average Recorded Investment | 33,293 | 33,643 |
Impaired Loans, Interest Income Recognized | 141 | 139 |
Construction | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, with No Related IVA, Average Recorded Investment | 0 | 0 |
Impaired Loans, with No Related IVA, Interest Income Recognized | 0 | 0 |
Impaired Loans, with an IVA, Average Recorded Investment | 213 | 0 |
Impaired Loans, with an IVA, Interest Income Recognized | 0 | 0 |
Impaired Loans, Average Recorded Investment | 213 | 0 |
Impaired Loans, Interest Income Recognized | $ 0 | $ 0 |
Loans And Allowance For Loan 48
Loans And Allowance For Loan Losses (Schedule Of Recorded Investment In Troubled Debt Restructured Loans By Type Of Concession) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | $ 175,609 | $ 178,259 |
Reduction In Interest Rates | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 22,087 | 23,573 |
Payment Extensions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 4,134 | 4,199 |
Forbearance or Other Actions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 14,948 | 14,404 |
Multiple Concessions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 39,212 | 38,727 |
Multiple Restructurings | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 44,990 | 45,431 |
Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 50,238 | 51,925 |
Residential Core | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 100,284 | 101,949 |
Residential Core | Reduction In Interest Rates | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 14,978 | 15,743 |
Residential Core | Payment Extensions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 881 | 934 |
Residential Core | Forbearance or Other Actions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 9,085 | 8,252 |
Residential Core | Multiple Concessions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 22,072 | 22,211 |
Residential Core | Multiple Restructurings | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 22,352 | 22,594 |
Residential Core | Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 30,916 | 32,215 |
Residential Home Today | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 52,166 | 53,891 |
Residential Home Today | Reduction In Interest Rates | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 6,956 | 7,734 |
Residential Home Today | Payment Extensions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 7 | 12 |
Residential Home Today | Forbearance or Other Actions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 5,361 | 5,643 |
Residential Home Today | Multiple Concessions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 12,168 | 12,302 |
Residential Home Today | Multiple Restructurings | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 21,598 | 21,928 |
Residential Home Today | Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 6,076 | 6,272 |
Home Equity Loans And Lines Of Credit | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 23,159 | 22,419 |
Home Equity Loans And Lines Of Credit | Reduction In Interest Rates | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 153 | 96 |
Home Equity Loans And Lines Of Credit | Payment Extensions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 3,246 | 3,253 |
Home Equity Loans And Lines Of Credit | Forbearance or Other Actions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 502 | 509 |
Home Equity Loans And Lines Of Credit | Multiple Concessions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 4,972 | 4,214 |
Home Equity Loans And Lines Of Credit | Multiple Restructurings | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 1,040 | 909 |
Home Equity Loans And Lines Of Credit | Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | $ 13,246 | $ 13,438 |
Loans And Allowance For Loan 49
Loans And Allowance For Loan Losses (Summary Of Troubled Debt Restructured Loans Restructured During the Period By Type Of Concession) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | $ 7,436 | $ 11,057 |
Reduction In Interest Rates | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 173 | 848 |
Payment Extensions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 225 | 652 |
Forbearance or Other Actions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 931 | 2,137 |
Multiple Concessions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 2,539 | 2,399 |
Multiple Restructurings | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 1,500 | 2,626 |
Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 2,068 | 2,395 |
Residential Core | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 4,132 | 6,750 |
Residential Core | Reduction In Interest Rates | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 112 | 766 |
Residential Core | Payment Extensions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 0 | 0 |
Residential Core | Forbearance or Other Actions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 900 | 978 |
Residential Core | Multiple Concessions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 1,188 | 1,858 |
Residential Core | Multiple Restructurings | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 558 | 1,269 |
Residential Core | Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 1,374 | 1,879 |
Residential Home Today | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 1,318 | 2,785 |
Residential Home Today | Reduction In Interest Rates | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 0 | 82 |
Residential Home Today | Payment Extensions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 0 | 0 |
Residential Home Today | Forbearance or Other Actions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 23 | 1,159 |
Residential Home Today | Multiple Concessions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 295 | 64 |
Residential Home Today | Multiple Restructurings | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 821 | 1,313 |
Residential Home Today | Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 179 | 167 |
Home Equity Loans And Lines Of Credit | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 1,986 | 1,522 |
Home Equity Loans And Lines Of Credit | Reduction In Interest Rates | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 61 | 0 |
Home Equity Loans And Lines Of Credit | Payment Extensions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 225 | 652 |
Home Equity Loans And Lines Of Credit | Forbearance or Other Actions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 8 | 0 |
Home Equity Loans And Lines Of Credit | Multiple Concessions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 1,056 | 477 |
Home Equity Loans And Lines Of Credit | Multiple Restructurings | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | 121 | 44 |
Home Equity Loans And Lines Of Credit | Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructured loans restructured in the period | $ 515 | $ 349 |
Loans And Allowance For Loan 50
Loans And Allowance For Loan Losses (Schedule Of Troubled Debt Restructured Loans Restructured Within The Last 12 Months Which Defaulted) (Details) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015USD ($)contracts | Dec. 31, 2014USD ($)contracts | |
Financing Receivable, Modifications Within The Last 12 Months Which Defaulted [Line Items] | ||
Number of contracts | contracts | 89 | 76 |
Recorded investment | $ | $ 4,625 | $ 4,426 |
Residential Core | ||
Financing Receivable, Modifications Within The Last 12 Months Which Defaulted [Line Items] | ||
Number of contracts | contracts | 28 | 28 |
Recorded investment | $ | $ 2,527 | $ 2,555 |
Residential Home Today | ||
Financing Receivable, Modifications Within The Last 12 Months Which Defaulted [Line Items] | ||
Number of contracts | contracts | 20 | 33 |
Recorded investment | $ | $ 998 | $ 1,453 |
Home Equity Loans And Lines Of Credit | ||
Financing Receivable, Modifications Within The Last 12 Months Which Defaulted [Line Items] | ||
Number of contracts | contracts | 41 | 15 |
Recorded investment | $ | $ 1,100 | $ 418 |
Loans And Allowance For Loan 51
Loans And Allowance For Loan Losses (Schedule Of Credit Quality Of Residential Loan Receivables By An Internally Assigned Grade) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | $ 11,272,011 | $ 11,259,137 |
Residential Core | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 9,508,414 | 9,466,060 |
Residential Core | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 9,444,086 | 9,399,409 |
Residential Core | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 0 | 0 |
Residential Core | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 64,328 | 66,651 |
Residential Core | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 0 | 0 |
Residential Home Today | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 129,979 | 133,976 |
Residential Home Today | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 106,762 | 110,105 |
Residential Home Today | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 0 | 0 |
Residential Home Today | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 23,217 | 23,871 |
Residential Home Today | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 0 | 0 |
Home Equity Loans And Lines Of Credit | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 1,606,709 | 1,634,432 |
Home Equity Loans And Lines Of Credit | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 1,577,865 | 1,604,226 |
Home Equity Loans And Lines Of Credit | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 4,724 | 4,279 |
Home Equity Loans And Lines Of Credit | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 24,120 | 25,927 |
Home Equity Loans And Lines Of Credit | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 0 | 0 |
Construction | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 23,636 | 21,201 |
Construction | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 23,636 | 20,774 |
Construction | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 0 | 0 |
Construction | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 0 | 427 |
Construction | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 0 | 0 |
Total Real Estate Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 11,268,738 | 11,255,669 |
Total Real Estate Loans | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 11,152,349 | 11,134,514 |
Total Real Estate Loans | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 4,724 | 4,279 |
Total Real Estate Loans | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 111,665 | 116,876 |
Total Real Estate Loans | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | $ 0 | $ 0 |
Loans And Allowance For Loan 52
Loans And Allowance For Loan Losses (Loans Evaluated For Impairment Narrative) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans collectively evaluated for impairment | $ 11,067,969 | $ 11,046,965 |
Substandard | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans collectively evaluated for impairment | 8,596 | 8,094 |
Special Mention | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans collectively evaluated for impairment | $ 4,724 | $ 4,279 |
Loans And Allowance For Loan 53
Loans And Allowance For Loan Losses (Schedule Of Activity In The Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Ending Balance | $ 69,241 | |
Residential Core | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Beginning Balance | 22,596 | $ 31,080 |
Provision for loan losses | (1,764) | (1,724) |
Charge-offs | (1,282) | (1,268) |
Recoveries | 918 | 629 |
Ending Balance | 20,468 | 28,717 |
Residential Home Today | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Beginning Balance | 9,997 | 16,424 |
Provision for loan losses | 263 | 924 |
Charge-offs | (826) | (1,082) |
Recoveries | 418 | 168 |
Ending Balance | 9,852 | 16,434 |
Home Equity Loans And Lines Of Credit | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Beginning Balance | 38,926 | 33,831 |
Provision for loan losses | 522 | 2,980 |
Charge-offs | (2,104) | (3,629) |
Recoveries | 1,563 | 1,413 |
Ending Balance | 38,907 | 34,595 |
Construction | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Beginning Balance | 35 | 27 |
Provision for loan losses | (21) | (180) |
Charge-offs | 0 | 0 |
Recoveries | 0 | 169 |
Ending Balance | 14 | 16 |
Total Real Estate Loans | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Beginning Balance | 71,554 | 81,362 |
Provision for loan losses | (1,000) | 2,000 |
Charge-offs | (4,212) | (5,979) |
Recoveries | 2,899 | 2,379 |
Ending Balance | $ 69,241 | $ 79,762 |
Deposits (Summary Of Deposit Ac
Deposits (Summary Of Deposit Account Balances) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Deposits [Abstract] | ||
Negotiable order of withdrawal accounts | $ 1,023,173 | $ 994,447 |
Savings accounts | 1,605,486 | 1,610,944 |
Certificates of deposit | 5,674,806 | 5,678,618 |
Subtotal, Deposits | 8,303,465 | 8,284,009 |
Accrued interest | 1,897 | 1,849 |
Total deposits | $ 8,305,362 | $ 8,285,858 |
Deposits Deposits (Narrative) (
Deposits Deposits (Narrative) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Deposits [Abstract] | ||
Brokered certificates of deposit | $ 539,910 | $ 520,110 |
Other Comprehensive Income (L56
Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Income tax | $ 9,274 | $ 8,472 |
Income tax benefit | 141 | 66 |
Unrealized gain (losses) on securities available for sale | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Income tax | $ 2,803 | $ (233) |
Other Comprehensive Income (L57
Other Comprehensive Income (Loss) (Accumulated Other Comprehensive Income (Loss) by Component) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||
Balance at beginning of period | $ (13,065) | $ (10,792) |
Other comprehensive loss before reclassifications, net of tax | (5,205) | 433 |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 258 | 124 |
Other comprehensive (loss) income | (4,947) | 557 |
Balance at end of period | (18,012) | (10,235) |
Unrealized gain (losses) on securities available for sale | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||
Balance at beginning of period | 1,926 | (1,092) |
Other comprehensive loss before reclassifications, net of tax | (5,252) | 433 |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 0 | 0 |
Other comprehensive (loss) income | (5,252) | 433 |
Balance at end of period | (3,326) | (659) |
Cash flow Hedges | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||
Balance at beginning of period | 0 | 0 |
Other comprehensive loss before reclassifications, net of tax | 47 | 0 |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 8 | 0 |
Other comprehensive (loss) income | 55 | 0 |
Balance at end of period | 55 | 0 |
Defined Benefit Plan | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||
Balance at beginning of period | (14,991) | (9,700) |
Other comprehensive loss before reclassifications, net of tax | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 250 | 124 |
Other comprehensive (loss) income | 250 | 124 |
Balance at end of period | $ (14,741) | $ (9,576) |
Other Comprehensive Income (L58
Other Comprehensive Income (Loss) (Reclassification out of Accumulated Other Comprehensive Income) [Details] - USD ($) $ in Thousands | 3 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | ||
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Interest Expense | $ (28,790) | $ (28,600) | |
Income tax benefit | 141 | 66 | |
Reclassification net of tax | 258 | 124 | |
Cash flow Hedges | |||
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Reclassification net of tax | 8 | 0 | |
Actuarial Loss | |||
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Actuarial loss | [1] | 386 | 190 |
Defined Benefit Plan | |||
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Income tax benefit | (136) | (66) | |
Reclassification net of tax | 250 | 124 | |
Reclassification out of Accumulated Other Comprehensive Income | Cash flow Hedges | |||
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Income tax benefit | (5) | 0 | |
Reclassification net of tax | 8 | 0 | |
Reclassification out of Accumulated Other Comprehensive Income | Cash flow Hedges | Interest Rate Swap | |||
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Interest Expense | $ 13 | $ 0 | |
[1] | This item is included in the computation of net period pension cost. See Note 8. Defined Benefit Plan for additional disclosure. |
Defined Benefit Plan (Narrative
Defined Benefit Plan (Narrative) (Details) $ in Thousands | 3 Months Ended |
Dec. 31, 2015USD ($) | |
Compensation and Retirement Disclosure [Abstract] | |
Required minimum employer contribution | $ 0 |
Minimum employer contributions expected, remainder of the fiscal year | $ 0 |
Defined Benefit Plan (Component
Defined Benefit Plan (Components Of Net Periodic Benefit Cost Recognized) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | ||
Interest cost | $ 822 | $ 783 |
Expected return on plan assets | (1,028) | (1,104) |
Amortization of net loss | 386 | 190 |
Estimated net loss due to settlement | 0 | 228 |
Net periodic cost | $ 180 | $ 97 |
Equity Incentive Plan (Narrativ
Equity Incentive Plan (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of options to purchase common stock granted | 393,500 | ||
Stock-based compensation expense | $ 1,708 | $ 2,099 | |
Shares subject to options (in shares) | 6,173,130 | 6,173,130 | |
Weighted average exercise price per share | $ 12.41 | $ 12.41 | |
Weighted average grant date fair value (in dollars per share) | $ 2.99 | ||
Non-vested options outstanding | 1,726,035 | 1,726,035 | |
Expected future expense related to non-vested options outstanding | $ 3,946 | $ 3,946 | |
Restricted Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares approved restricted stock units | 55,600 | ||
Stock-based compensation expense | $ 1,042 | 1,169 | |
Expected future expense related to non-vested options outstanding, weighted average years | 2 years 2 months 5 days | ||
Restricted stock units, non-vested | 790,007 | 790,007 | |
Restricted stock units, non-vested, weighted average grant date fair value (in dollars per share) | $ 13.56 | $ 13.56 | |
Restricted stock units outstanding | 1,228,710 | 1,228,710 | |
Expected future compensation expense related to restricted stock units outstanding | $ 4,627 | $ 4,627 | |
Employee Stock Option | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | $ 666 | $ 930 | |
Expected future expense related to non-vested options outstanding, weighted average years | 2 years 4 months 24 days |
Commitments And Contingent Li62
Commitments And Contingent Liabilities (Narrative) (Details) $ in Thousands | 3 Months Ended |
Dec. 31, 2015USD ($) | |
Unfunded Commitments, Equity Lines Of Credit Including Suspended Accounts | |
Unfunded And Commitments To Originate [Line Items] | |
Unfunded commitments on home equity lines of credit (including commitments for suspended accounts) | $ 1,350,439 |
Minimum | |
Unfunded And Commitments To Originate [Line Items] | |
Fixed Expiration Of Commitments To Extend Credit (in days) | 60 days |
Home equity line of credit unfunded commitments expiration, years | 5 years |
Maximum | |
Unfunded And Commitments To Originate [Line Items] | |
Fixed Expiration Of Commitments To Extend Credit (in days) | 360 days |
Home equity line of credit unfunded commitments expiration, years | 10 years |
Commitments And Contingent Li63
Commitments And Contingent Liabilities Commitments And Contingent Liabilities (Schedule of Off Balance Sheet Risks) (Details) $ in Thousands | Dec. 31, 2015USD ($) |
Commitments To Originate | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | $ 631,159 |
Commitments To Originate Fixed-Rate Mortgage Loans | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | 288,938 |
Commitments To Originate Adjustable-Rate Mortgage Loans | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | 307,452 |
Commitments To Originate Equity Loans and Lines of Credit Including Bridge Loans | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | 34,769 |
Unfunded Commitments | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | 1,245,565 |
Unfunded Commitments Equity Lines of Credit | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | 1,200,471 |
Unfunded Commitments Construction Loans | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | 32,153 |
Unfunded Commitments Private Equity Investments | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | $ 12,941 |
Fair Value (Narrative) (Details
Fair Value (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Mortgage loans held for sale | $ 0 | $ 0 | |
Available-for-sale Securities | 588,406 | 585,053 | |
Mortgage loans held-for-sale | 374 | 116 | |
Performing troubled debt restructurings individually evaluated for impairment | 204,042 | 212,172 | |
Allowance on performing troubled debt restructurings individually evaluated for impairment based on the present value of cash flows | 14,475 | 14,318 | |
Real estate owned | 14,299 | 17,492 | |
Real Estate Acquired Through Foreclosure, Cost To Sell | 1,186 | 1,756 | |
Fair Value, Inputs, Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Mortgage loans held for sale | 382 | 119 | |
Available-for-sale Securities | 588,406 | 585,053 | |
Fair Value, Inputs, Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Mortgage loans held for sale | 0 | 0 | |
Available-for-sale Securities | 0 | 0 | |
Market Approach Valuation Technique | US Treasury and Government | Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale Securities | 588,406 | 585,053 | |
Carried At Cost | Portion at Other than Fair Value | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Mortgage loans held-for-sale | 374 | 116 | |
Original Or Adjusted Cost Basis Greater Than Fair Value | Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Real estate owned | 10,010 | 15,094 | |
Original Or Adjusted Cost Basis Less Than Fair Value | Portion at Other than Fair Value | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Real estate owned | 5,475 | 4,154 | |
Loans Held-for-Sale | Net Gain On Sale Of Loans | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Change in fair value of loans for which the fair value option was elected | 0 | $ (111) | |
Loans Held-for-Sale | Market Approach Valuation Technique | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Mortgage loans held for sale | 0 | 0 | |
Troubled Debt Restructuring | Present Value of Cash Flows | Performing | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Allowance on performing troubled debt restructurings individually evaluated for impairment based on the present value of cash flows | 14,424 | 14,117 | |
Troubled Debt Restructuring | Present Value of Cash Flows | Performing | Portion at Other than Fair Value | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Performing troubled debt restructurings individually evaluated for impairment | 101,733 | 103,777 | |
Allowance on performing troubled debt restructurings individually evaluated for impairment based on the present value of cash flows | $ 14,424 | $ 14,117 |
Fair Value (Fair Value Of Asset
Fair Value (Fair Value Of Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Assets: | ||
Available-for-sale Securities | $ 588,406 | $ 585,053 |
Quoted Prices In Active Markets For Identical Assets (Level 1) | ||
Assets: | ||
Available-for-sale Securities | 0 | 0 |
Derivative assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | ||
Assets: | ||
Available-for-sale Securities | 588,406 | 585,053 |
Derivative assets | 85 | 0 |
Significant Unobservable Inputs (Level 3) | ||
Assets: | ||
Available-for-sale Securities | 0 | 0 |
Derivative assets | 84 | 79 |
U.S. Government And Agency Obligations | ||
Assets: | ||
Available-for-sale Securities | 2,002 | |
REMIC's | ||
Assets: | ||
Available-for-sale Securities | 578,147 | 572,451 |
Fannie Mae Certificates | ||
Assets: | ||
Available-for-sale Securities | 10,259 | 10,600 |
Fair Value, Measurements, Recurring | ||
Assets: | ||
Total assets | 588,575 | 585,132 |
Fair Value, Measurements, Recurring | Quoted Prices In Active Markets For Identical Assets (Level 1) | ||
Assets: | ||
Total assets | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ||
Assets: | ||
Total assets | 588,491 | 585,053 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ||
Assets: | ||
Total assets | 84 | 79 |
Fair Value, Measurements, Recurring | Interest Rate Lock Commitments | ||
Assets: | ||
Derivative assets | 84 | 79 |
Fair Value, Measurements, Recurring | Interest Rate Lock Commitments | Quoted Prices In Active Markets For Identical Assets (Level 1) | ||
Assets: | ||
Derivative assets | 0 | 0 |
Fair Value, Measurements, Recurring | Interest Rate Lock Commitments | Significant Other Observable Inputs (Level 2) | ||
Assets: | ||
Derivative assets | 0 | 0 |
Fair Value, Measurements, Recurring | Interest Rate Lock Commitments | Significant Unobservable Inputs (Level 3) | ||
Assets: | ||
Derivative assets | 84 | 79 |
Fair Value, Measurements, Recurring | Interest Rate Swap | ||
Assets: | ||
Derivative assets | 85 | |
Fair Value, Measurements, Recurring | Interest Rate Swap | Quoted Prices In Active Markets For Identical Assets (Level 1) | ||
Assets: | ||
Derivative assets | 0 | |
Fair Value, Measurements, Recurring | Interest Rate Swap | Significant Other Observable Inputs (Level 2) | ||
Assets: | ||
Derivative assets | 85 | |
Fair Value, Measurements, Recurring | Interest Rate Swap | Significant Unobservable Inputs (Level 3) | ||
Assets: | ||
Derivative assets | 0 | |
Fair Value, Measurements, Recurring | U.S. Government And Agency Obligations | ||
Assets: | ||
Available-for-sale Securities | 2,002 | |
Fair Value, Measurements, Recurring | U.S. Government And Agency Obligations | Quoted Prices In Active Markets For Identical Assets (Level 1) | ||
Assets: | ||
Available-for-sale Securities | 0 | |
Fair Value, Measurements, Recurring | U.S. Government And Agency Obligations | Significant Other Observable Inputs (Level 2) | ||
Assets: | ||
Available-for-sale Securities | 2,002 | |
Fair Value, Measurements, Recurring | U.S. Government And Agency Obligations | Significant Unobservable Inputs (Level 3) | ||
Assets: | ||
Available-for-sale Securities | 0 | |
Fair Value, Measurements, Recurring | REMIC's | ||
Assets: | ||
Available-for-sale Securities | 578,147 | 572,451 |
Fair Value, Measurements, Recurring | REMIC's | Quoted Prices In Active Markets For Identical Assets (Level 1) | ||
Assets: | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring | REMIC's | Significant Other Observable Inputs (Level 2) | ||
Assets: | ||
Available-for-sale Securities | 578,147 | 572,451 |
Fair Value, Measurements, Recurring | REMIC's | Significant Unobservable Inputs (Level 3) | ||
Assets: | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring | Fannie Mae Certificates | ||
Assets: | ||
Available-for-sale Securities | 10,259 | 10,600 |
Fair Value, Measurements, Recurring | Fannie Mae Certificates | Quoted Prices In Active Markets For Identical Assets (Level 1) | ||
Assets: | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring | Fannie Mae Certificates | Significant Other Observable Inputs (Level 2) | ||
Assets: | ||
Available-for-sale Securities | 10,259 | 10,600 |
Fair Value, Measurements, Recurring | Fannie Mae Certificates | Significant Unobservable Inputs (Level 3) | ||
Assets: | ||
Available-for-sale Securities | $ 0 | $ 0 |
Fair Value (Fair Value Assets A
Fair Value (Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation) (Details) - Fair Value, Inputs, Level 3 - Interest Rate Lock Commitments - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | $ 79 | $ 59 |
Gain during the period due to changes in fair value: | ||
Ending balance | 84 | 92 |
Change in unrealized gains for the period included in earnings for assets held at the end of the reporting date | 84 | 92 |
Other Income | ||
Gain during the period due to changes in fair value: | ||
Included in other non-interest income | $ 5 | $ 33 |
Fair Value (Assets Measured At
Fair Value (Assets Measured At Fair Value On A Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 | ||
Fair Value, Measurements, Nonrecurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total | $ 112,269 | $ 123,288 | ||
Fair Value, Measurements, Nonrecurring | Quoted Prices In Active Markets For Identical Assets (Level 1) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total | 0 | 0 | ||
Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total | 0 | 0 | ||
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total | 112,269 | 123,288 | ||
Present Value of Cash Flows | Impaired Loans, Net of Allowance | Significant Unobservable Inputs (Level 3) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total | 102,259 | 108,194 | ||
Present Value of Cash Flows | Impaired Loans, Net of Allowance | Fair Value, Measurements, Nonrecurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired loans, net of allowance | 102,259 | 108,194 | ||
Present Value of Cash Flows | Impaired Loans, Net of Allowance | Fair Value, Measurements, Nonrecurring | Quoted Prices In Active Markets For Identical Assets (Level 1) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired loans, net of allowance | 0 | 0 | ||
Present Value of Cash Flows | Impaired Loans, Net of Allowance | Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired loans, net of allowance | 0 | 0 | ||
Present Value of Cash Flows | Impaired Loans, Net of Allowance | Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired loans, net of allowance | 102,259 | 108,194 | ||
Original Or Adjusted Cost Basis Greater Than Fair Value | Fair Value, Measurements, Nonrecurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Real Estate Owned, Fair Value Disclosure | 10,010 | [1] | 15,094 | [2] |
Original Or Adjusted Cost Basis Greater Than Fair Value | Fair Value, Measurements, Nonrecurring | Quoted Prices In Active Markets For Identical Assets (Level 1) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Real Estate Owned, Fair Value Disclosure | 0 | [1] | 0 | [2] |
Original Or Adjusted Cost Basis Greater Than Fair Value | Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Real Estate Owned, Fair Value Disclosure | 0 | [1] | 0 | [2] |
Original Or Adjusted Cost Basis Greater Than Fair Value | Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Real Estate Owned, Fair Value Disclosure | $ 10,010 | [1] | $ 15,094 | [2] |
[1] | (1) Amounts represent fair value measurements of properties before deducting estimated costs to dispose. | |||
[2] | (1) Amounts represent fair value measurements of properties before deducting estimated costs to dispose. |
Fair Value (Quantitative Inform
Fair Value (Quantitative Information About Significant Unobservable Inputs Categorized Within Level 3 Of The Fair Value Hierarchy) (Details) - Fair Value, Inputs, Level 3 - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Present Value of Cash Flows | Impaired Loans, Net of Allowance | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, fair value | $ 102,259 | $ 108,194 |
Present Value of Cash Flows | Impaired Loans, Net of Allowance | Minimum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount appraised value to estimated net proceeds based on historical experience | 0.00% | 0.00% |
Present Value of Cash Flows | Impaired Loans, Net of Allowance | Maximum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount appraised value to estimated net proceeds based on historical experience | 24.00% | 24.00% |
Present Value of Cash Flows | Impaired Loans, Net of Allowance | Weighted Average | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount appraised value to estimated net proceeds based on historical experience | 8.10% | 8.00% |
Secondary Market Pricing | Interest Rate Lock Commitments | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, fair value | $ 84 | $ 79 |
Secondary Market Pricing | Interest Rate Lock Commitments | Minimum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Closure Rate | 0.00% | 0.00% |
Secondary Market Pricing | Interest Rate Lock Commitments | Maximum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Closure Rate | 100.00% | 100.00% |
Secondary Market Pricing | Interest Rate Lock Commitments | Weighted Average | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Closure Rate | 87.60% | 78.70% |
Fair Value (Estimated Fair Valu
Fair Value (Estimated Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Assets: | ||
Available-for-sale Securities | $ 588,406 | $ 585,053 |
Mortgage loans held for sale | 0 | 0 |
Liabilities: | ||
Borrowers' advances for taxes and insurance | 81,421 | 86,292 |
Fair Value, Inputs, Level 1 | ||
Assets: | ||
Available-for-sale Securities | 0 | 0 |
Mortgage loans held for sale | 0 | 0 |
Loans, net: | ||
Private equity investments | 0 | 0 |
Derivative asset | 0 | 0 |
Liabilities: | ||
Borrowed funds | 0 | 0 |
Borrowers' advances for taxes and insurance | 0 | 0 |
Principal, interest and escrow owed on loans serviced | 0 | 0 |
Fair Value, Inputs, Level 2 | ||
Assets: | ||
Available-for-sale Securities | 588,406 | 585,053 |
Mortgage loans held for sale | 382 | 119 |
Loans, net: | ||
Federal Home Loan Bank stock | 0 | 0 |
Private equity investments | 0 | 0 |
Derivative asset | 85 | 0 |
Liabilities: | ||
Borrowed funds | 2,175,499 | 2,196,476 |
Borrowers' advances for taxes and insurance | 81,421 | 86,292 |
Principal, interest and escrow owed on loans serviced | 45,495 | 49,493 |
Fair Value, Inputs, Level 3 | ||
Assets: | ||
Available-for-sale Securities | 0 | 0 |
Mortgage loans held for sale | 0 | 0 |
Loans, net: | ||
Federal Home Loan Bank stock | 0 | 0 |
Private equity investments | 267 | 255 |
Derivative asset | 84 | 79 |
Liabilities: | ||
Borrowed funds | 0 | 0 |
Borrowers' advances for taxes and insurance | 0 | 0 |
Principal, interest and escrow owed on loans serviced | 0 | 0 |
Estimated Fair Value | ||
Assets: | ||
Available-for-sale Securities | 588,406 | 585,053 |
Mortgage loans held for sale | 382 | 119 |
Loans, net: | ||
Federal Home Loan Bank stock | 69,470 | 69,470 |
Private equity investments | 267 | 255 |
Derivative asset | 169 | 79 |
Liabilities: | ||
Borrowed funds | 2,175,499 | 2,196,476 |
Borrowers' advances for taxes and insurance | 81,421 | 86,292 |
Principal, interest and escrow owed on loans serviced | 45,495 | 49,493 |
Carrying Amount | ||
Assets: | ||
Available-for-sale Securities | 588,406 | 585,053 |
Mortgage loans held for sale | 374 | 116 |
Loans, net: | ||
Federal Home Loan Bank stock | 69,470 | 69,470 |
Private equity investments | 267 | 255 |
Derivative asset | 169 | 79 |
Liabilities: | ||
Borrowed funds | 2,164,225 | 2,168,627 |
Borrowers' advances for taxes and insurance | 81,421 | 86,292 |
Principal, interest and escrow owed on loans serviced | 45,495 | 49,493 |
NOW and Passbook Accounts | Fair Value, Inputs, Level 1 | ||
Liabilities: | ||
Deposits | 0 | 0 |
NOW and Passbook Accounts | Fair Value, Inputs, Level 2 | ||
Liabilities: | ||
Deposits | 2,628,659 | 2,605,391 |
NOW and Passbook Accounts | Fair Value, Inputs, Level 3 | ||
Liabilities: | ||
Deposits | 0 | 0 |
NOW and Passbook Accounts | Estimated Fair Value | ||
Liabilities: | ||
Deposits | 2,628,659 | 2,605,391 |
NOW and Passbook Accounts | Carrying Amount | ||
Liabilities: | ||
Deposits | 2,628,659 | 2,605,391 |
Certificates of Deposit | Fair Value, Inputs, Level 1 | ||
Liabilities: | ||
Deposits | 0 | 0 |
Certificates of Deposit | Fair Value, Inputs, Level 2 | ||
Liabilities: | ||
Deposits | 5,578,162 | 5,634,860 |
Certificates of Deposit | Fair Value, Inputs, Level 3 | ||
Liabilities: | ||
Deposits | 0 | 0 |
Certificates of Deposit | Estimated Fair Value | ||
Liabilities: | ||
Deposits | 5,578,162 | 5,634,860 |
Certificates of Deposit | Carrying Amount | ||
Liabilities: | ||
Deposits | 5,676,703 | 5,680,467 |
Cash and Due From Banks | Fair Value, Inputs, Level 1 | ||
Assets: | ||
Cash and Cash Equivalents | 30,787 | 22,428 |
Cash and Due From Banks | Fair Value, Inputs, Level 2 | ||
Assets: | ||
Cash and Cash Equivalents | 0 | 0 |
Cash and Due From Banks | Fair Value, Inputs, Level 3 | ||
Assets: | ||
Cash and Cash Equivalents | 0 | 0 |
Cash and Due From Banks | Estimated Fair Value | ||
Assets: | ||
Cash and Cash Equivalents | 30,787 | 22,428 |
Cash and Due From Banks | Carrying Amount | ||
Assets: | ||
Cash and Cash Equivalents | 30,787 | 22,428 |
Interest Earning Cash Equivalents | Fair Value, Inputs, Level 1 | ||
Assets: | ||
Cash and Cash Equivalents | 128,835 | 132,941 |
Interest Earning Cash Equivalents | Fair Value, Inputs, Level 2 | ||
Assets: | ||
Cash and Cash Equivalents | 0 | 0 |
Interest Earning Cash Equivalents | Fair Value, Inputs, Level 3 | ||
Assets: | ||
Cash and Cash Equivalents | 0 | 0 |
Interest Earning Cash Equivalents | Estimated Fair Value | ||
Assets: | ||
Cash and Cash Equivalents | 128,835 | 132,941 |
Interest Earning Cash Equivalents | Carrying Amount | ||
Assets: | ||
Cash and Cash Equivalents | 128,835 | 132,941 |
Mortgage Receivable | Fair Value, Inputs, Level 1 | ||
Loans, net: | ||
Loans, net | 0 | 0 |
Mortgage Receivable | Fair Value, Inputs, Level 2 | ||
Loans, net: | ||
Loans, net | 0 | 0 |
Mortgage Receivable | Fair Value, Inputs, Level 3 | ||
Loans, net: | ||
Loans, net | 11,520,344 | 11,650,701 |
Mortgage Receivable | Estimated Fair Value | ||
Loans, net: | ||
Loans, net | 11,520,344 | 11,650,701 |
Mortgage Receivable | Carrying Amount | ||
Loans, net: | ||
Loans, net | 11,199,497 | 11,184,115 |
Other Consumer Loans | Fair Value, Inputs, Level 1 | ||
Loans, net: | ||
Loans, net | 0 | 0 |
Other Consumer Loans | Fair Value, Inputs, Level 2 | ||
Loans, net: | ||
Loans, net | 0 | 0 |
Other Consumer Loans | Fair Value, Inputs, Level 3 | ||
Loans, net: | ||
Loans, net | 3,401 | 3,645 |
Other Consumer Loans | Estimated Fair Value | ||
Loans, net: | ||
Loans, net | 3,401 | 3,645 |
Other Consumer Loans | Carrying Amount | ||
Loans, net: | ||
Loans, net | 3,273 | 3,468 |
Accrued Interest Receivable | Fair Value, Inputs, Level 1 | ||
Loans, net: | ||
Accrued interest receivable | 0 | 0 |
Accrued Interest Receivable | Fair Value, Inputs, Level 2 | ||
Loans, net: | ||
Accrued interest receivable | 32,271 | 32,490 |
Accrued Interest Receivable | Fair Value, Inputs, Level 3 | ||
Loans, net: | ||
Accrued interest receivable | 0 | 0 |
Accrued Interest Receivable | Estimated Fair Value | ||
Loans, net: | ||
Accrued interest receivable | 32,271 | 32,490 |
Accrued Interest Receivable | Carrying Amount | ||
Loans, net: | ||
Accrued interest receivable | $ 32,271 | $ 32,490 |
Derivative Instruments (Narrati
Derivative Instruments (Narrative) (Details) - USD ($) | 3 Months Ended | |
Dec. 31, 2015 | Sep. 30, 2015 | |
Derivative [Line Items] | ||
Estimated amount to be reclassed in the next 12 months as an increase to expense | $ 198,000 | |
Designated as Hedging Instrument | ||
Derivative [Line Items] | ||
Derivatives designated as hedging instruments | $ 0 | |
Interest Rate Swap | Designated as Hedging Instrument | Cash Flow Hedge | ||
Derivative [Line Items] | ||
Number of interest rate swaps held | 1 | |
Notional amount of interest rate swap | $ 25,000,000 | |
Remaining maturity on interest rate swap | 4 years 11 months | |
Forward Commitments For The Sale Of Mortgage Loans | Not Designated as Hedging Instrument | ||
Derivative [Line Items] | ||
Derivatives designated as hedging instruments | $ 0 | $ 0 |
Derivative Instruments (Schedul
Derivative Instruments (Schedule Of Derivative Instruments In Statement Of Financial Position, Fair Value) (Details) - Other Assets - USD ($) $ in Thousands | Dec. 31, 2015 | Sep. 30, 2015 |
Designated as Hedging Instrument | Cash Flow Hedge | Interest Rate Swap | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | $ 85 | $ 0 |
Not Designated as Hedging Instrument | Interest Rate Lock Commitments | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | $ 84 | $ 79 |
Derivative Instruments (Sched72
Derivative Instruments (Schedule Of Effect Of Derivative Instruments, Gain (Loss) In Statement Of Financial Performance) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Designated as Hedging Instrument | Cash Flow Hedge | Interest Expense | ||
Derivatives, Fair Value [Line Items] | ||
Amount of loss reclassified from AOCI | $ (13) | $ 0 |
Designated as Hedging Instrument | Cash Flow Hedge | Other Non-Interest Income | ||
Derivatives, Fair Value [Line Items] | ||
Amount of ineffectiveness recognized | 0 | 0 |
Designated as Hedging Instrument | Cash Flow Hedge | Other Comprehensive Income (Loss) | ||
Derivatives, Fair Value [Line Items] | ||
Amount of gain recognized, effective portion | 72 | 0 |
Not Designated as Hedging Instrument | ||
Derivatives, Fair Value [Line Items] | ||
Total | 5 | 47 |
Not Designated as Hedging Instrument | Interest Rate Lock Commitments | Other Income | ||
Derivatives, Fair Value [Line Items] | ||
Total | 5 | 33 |
Not Designated as Hedging Instrument | Forward Commitments For The Sale Of Mortgage Loans | Net gain (loss) on the sale of loans | ||
Derivatives, Fair Value [Line Items] | ||
Total | $ 0 | $ 14 |