Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Mar. 31, 2017 | May 03, 2017 | |
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 | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | TFSL | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 282,733,761 |
Consolidated Statements Of Cond
Consolidated Statements Of Condition (unaudited) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
ASSETS | ||
Cash and due from banks | $ 29,025 | $ 27,914 |
Interest-earning cash equivalents | 211,739 | 203,325 |
Cash and cash equivalents | 240,764 | 231,239 |
Investment securities available for sale (amortized cost $543,747 and $517,228, respectively) | 536,178 | 517,866 |
Mortgage loans held for sale, at lower of cost or market ($4,299 and $0 measured at fair value, respectively) | 4,299 | 4,686 |
Loans held for investment, net: | ||
Mortgage loans | 12,194,518 | 11,748,099 |
Other consumer loans | 3,012 | 3,116 |
Deferred loan expenses, net | 26,089 | 19,384 |
Allowance for loan losses | (56,841) | (61,795) |
Loans, net | 12,166,778 | 11,708,804 |
Mortgage loan servicing rights, net | 8,605 | 8,852 |
Federal Home Loan Bank stock, at cost | 82,877 | 69,853 |
Real estate owned | 5,617 | 6,803 |
Premises, equipment, and software, net | 58,990 | 61,003 |
Accrued interest receivable | 33,771 | 32,818 |
Bank owned life insurance contracts | 203,283 | 200,144 |
Other assets | 65,030 | 63,994 |
TOTAL ASSETS | 13,406,192 | 12,906,062 |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
Deposits | 8,188,005 | 8,331,368 |
Borrowed funds | 3,366,189 | 2,718,795 |
Borrowers’ advances for insurance and taxes | 84,732 | 92,313 |
Principal, interest, and related escrow owed on loans serviced | 36,559 | 49,401 |
Accrued expenses and other liabilities | 52,317 | 53,727 |
Total liabilities | 11,727,802 | 11,245,604 |
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; 283,067,967 and 284,219,019 outstanding at March 31, 2017 and September 30, 2016, respectively | 3,323 | 3,323 |
Paid-in capital | 1,719,718 | 1,716,818 |
Treasury stock, at cost; 49,250,783 and 48,099,731 shares at March 31, 2017 and September 30, 2016, respectively | (707,070) | (681,569) |
Unallocated ESOP shares | (55,251) | (57,418) |
Retained earnings—substantially restricted | 729,063 | 698,930 |
Accumulated other comprehensive loss | (11,393) | (19,626) |
Total shareholders’ equity | 1,678,390 | 1,660,458 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ 13,406,192 | $ 12,906,062 |
Consolidated Statements Of Con3
Consolidated Statements Of Condition (unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Available for sale, amortized cost | $ 543,747 | $ 517,228 |
Mortgage loans held for sale | $ 4,299 | $ 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 | 283,067,967 | 284,219,019 |
Treasury stock, shares | 49,250,783 | 48,099,731 |
Consolidated Statements Of Inco
Consolidated Statements Of Income (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
INTEREST AND DIVIDEND INCOME: | ||||
Loans, including fees | $ 97,676 | $ 93,737 | $ 193,056 | $ 186,911 |
Investment securities available for sale | 2,198 | 2,562 | 4,051 | 5,033 |
Other interest and dividend earning assets | 1,209 | 846 | 2,190 | 1,632 |
Total interest and dividend income | 101,083 | 97,145 | 199,297 | 193,576 |
INTEREST EXPENSE: | ||||
Deposits | 21,320 | 22,351 | 43,377 | 44,790 |
Borrowed funds | 9,477 | 7,035 | 17,404 | 13,386 |
Total interest expense | 30,797 | 29,386 | 60,781 | 58,176 |
NET INTEREST INCOME | 70,286 | 67,759 | 138,516 | 135,400 |
PROVISION FOR LOAN LOSSES | (6,000) | (1,000) | (6,000) | (2,000) |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 76,286 | 68,759 | 144,516 | 137,400 |
NON-INTEREST INCOME: | ||||
Fees and service charges, net of amortization | 1,673 | 1,826 | 3,449 | 3,795 |
Net gain on the sale of loans | 330 | 1,917 | 1,213 | 2,742 |
Increase in and death benefits from bank owned life insurance contracts | 1,559 | 1,841 | 3,163 | 4,184 |
Other | 990 | 1,119 | 2,095 | 2,099 |
Total non-interest income | 4,552 | 6,703 | 9,920 | 12,820 |
NON-INTEREST EXPENSE: | ||||
Salaries and employee benefits | 24,210 | 25,054 | 48,230 | 50,002 |
Marketing services | 4,791 | 4,331 | 9,326 | 8,652 |
Office property, equipment and software | 6,111 | 5,939 | 11,984 | 11,702 |
Federal insurance premium and assessments | 2,664 | 2,994 | 4,936 | 5,823 |
State franchise tax | 1,317 | 1,444 | 2,671 | 2,892 |
Real estate owned expense, net | 829 | 1,713 | 1,880 | 3,874 |
Other operating expenses | 5,372 | 4,866 | 11,529 | 11,029 |
Total non-interest expense | 45,294 | 46,341 | 90,556 | 93,974 |
INCOME BEFORE INCOME TAXES | 35,544 | 29,121 | 63,880 | 56,246 |
INCOME TAX EXPENSE | 12,083 | 9,845 | 20,809 | 19,119 |
NET INCOME | $ 23,461 | $ 19,276 | $ 43,071 | $ 37,127 |
Earnings per share—basic and diluted | $ 0.08 | $ 0.07 | $ 0.15 | $ 0.13 |
Weighted average shares outstanding | ||||
Basic | 277,787,284 | 282,314,098 | 277,857,265 | 283,078,539 |
Diluted | 279,911,556 | 284,486,177 | 280,091,879 | 285,412,438 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Net income | $ 23,461 | $ 19,276 | $ 43,071 | $ 37,127 |
Other comprehensive income (loss), net of tax: | ||||
Net change in unrealized loss on securities available for sale | 692 | 4,544 | (5,335) | (708) |
Net change in cash flow hedges | 257 | (1,700) | 12,877 | (1,645) |
Change in pension obligation | 346 | 251 | 691 | 501 |
Other comprehensive income (loss) | 1,295 | 3,095 | 8,233 | (1,852) |
Total comprehensive income | $ 24,756 | $ 22,371 | $ 51,304 | $ 35,275 |
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, 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 | 37,127 | 37,127 | |||||
Other comprehensive income (loss), net of tax | (1,852) | (1,852) | |||||
ESOP shares allocated or committed to be released | 3,838 | 1,671 | 2,167 | ||||
Compensation costs for stock-based plans | 3,500 | 3,500 | |||||
Excess tax effect from stock-based compensation | 2,006 | 2,006 | |||||
Purchase of treasury stock | (67,040) | (67,040) | |||||
Treasury stock allocated to restricted stock plan | (5,184) | (2,422) | (2,762) | 0 | |||
Dividends paid to common shareholders | (11,358) | (11,358) | |||||
Balance at Mar. 31, 2016 | 1,690,407 | 3,323 | 1,712,384 | (618,359) | (59,584) | 667,560 | (14,917) |
Balance at Dec. 31, 2015 | (18,012) | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 19,276 | ||||||
Balance at Mar. 31, 2016 | 1,690,407 | 3,323 | 1,712,384 | (618,359) | (59,584) | 667,560 | (14,917) |
Balance at Sep. 30, 2016 | 1,660,458 | 3,323 | 1,716,818 | (681,569) | (57,418) | 698,930 | (19,626) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 43,071 | 43,071 | |||||
Other comprehensive income (loss), net of tax | 8,233 | 8,233 | |||||
ESOP shares allocated or committed to be released | 3,896 | 1,729 | 2,167 | ||||
Compensation costs for stock-based plans | 2,019 | 2,048 | (29) | ||||
Purchase of treasury stock | (23,954) | (23,954) | |||||
Treasury stock allocated to restricted stock plan | (2,424) | (877) | (1,547) | 0 | |||
Dividends paid to common shareholders | (12,909) | (12,909) | |||||
Balance at Mar. 31, 2017 | 1,678,390 | 3,323 | 1,719,718 | (707,070) | (55,251) | 729,063 | (11,393) |
Balance at Dec. 31, 2016 | (12,688) | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 23,461 | ||||||
Balance at Mar. 31, 2017 | $ 1,678,390 | $ 3,323 | $ 1,719,718 | $ (707,070) | $ (55,251) | $ 729,063 | $ (11,393) |
Consolidated Statements Of Sha7
Consolidated Statements Of Shareholders' Equity (unaudited) Consolidated Statements Of Shareholders' Equity (unaudited) (Parenthetical) - $ / shares | 6 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Purchase of treasury stock (in shares) | 1,357,210 | 3,780,000 |
Dividends paid to common shareholders (per common share) | $ 0.25 | $ 0.20 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows (unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 43,071 | $ 37,127 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
ESOP and stock-based compensation expense | 5,915 | 7,338 |
Depreciation and amortization | 11,093 | 8,845 |
Deferred income tax expense | (10) | 20 |
Provision for loan losses | (6,000) | (2,000) |
Net gain on the sale of loans | (1,213) | (2,742) |
Other net losses | 425 | 774 |
Principal repayments on and proceeds from sales of loans held for sale | 14,824 | 7,640 |
Loans originated for sale | (14,623) | (8,647) |
Increase in bank owned life insurance contracts | (3,166) | (1,644) |
Cash collateral received from derivative counterparties | 17,844 | 0 |
Net decrease (increase) in interest receivable and other assets | 691 | (3,339) |
Net decrease in accrued expenses and other liabilities | (4,630) | (3,493) |
Other | 0 | 55 |
Net cash provided by operating activities | 64,221 | 39,934 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Loans originated | (1,813,251) | (1,198,681) |
Principal repayments on loans | 1,223,532 | 999,657 |
Proceeds from principal repayments and maturities of: | ||
Securities available for sale | 82,458 | 71,823 |
Proceeds from sale of: | ||
Loans | 130,176 | 86,579 |
Real estate owned | 4,722 | 11,926 |
Purchases of: | ||
FHLB stock | (13,024) | 0 |
Securities available for sale | (112,084) | (59,523) |
Premises and equipment | (663) | (5,143) |
Other | (24) | 542 |
Net cash used in investing activities | (498,158) | (92,820) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net (decrease) increase in deposits | (143,363) | 31,955 |
Net decrease in borrowers’ advances for insurance and taxes | (7,581) | (9,381) |
Net (decrease) increase in principal and interest owed on loans serviced | (12,842) | 1,025 |
Net increase in short-term borrowed funds | 322,482 | 187,249 |
Proceeds from long-term borrowed funds | 375,000 | 40,206 |
Repayment of long-term borrowed funds | (50,088) | (112,707) |
Purchase of treasury shares | (24,813) | (67,012) |
Excess tax benefit related to stock-based compensation | 0 | 2,006 |
Acquisition of treasury shares through net settlement of stock benefit plans compensation | (2,424) | (5,184) |
Dividends paid to common shareholders | (12,909) | (11,358) |
Net cash provided by financing activities | 443,462 | 56,799 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 9,525 | 3,913 |
CASH AND CASH EQUIVALENTS—Beginning of period | 231,239 | 155,369 |
CASH AND CASH EQUIVALENTS—End of period | 240,764 | 159,282 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Cash paid for interest on deposits | 43,504 | 44,785 |
Cash paid for interest on borrowed funds | 14,746 | 12,870 |
Cash paid for income taxes | 19,982 | 17,577 |
SUPPLEMENTAL SCHEDULES OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
Transfer of loans to real estate owned | 3,901 | 6,481 |
Transfer of loans from held for investment to held for sale | 130,368 | 85,015 |
Treasury stock issued for stock benefit plans | $ 877 | $ 2,422 |
Basis Of Presentation
Basis Of Presentation | 6 Months Ended |
Mar. 31, 2017 | |
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. As of March 31, 2017 , approximately 80% 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 U.S. GAAP 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 deferred tax assets, and the determination of pension obligations 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 March 31, 2017 , 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 SEC 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, 2016 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, 2017 or for any other period. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and 2016 , respectively, the ESOP held 5,525,081 and 5,958,421 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 March 31, 2017 2016 Income Shares Per share amount Income Shares Per share amount (Dollars in thousands, except per share data) Net income $ 23,461 $ 19,276 Less: income allocated to restricted stock units 221 181 Basic earnings per share: Income available to common shareholders $ 23,240 277,787,284 $ 0.08 $ 19,095 282,314,098 $ 0.07 Diluted earnings per share: Effect of dilutive potential common shares 2,124,272 2,172,079 Income available to common shareholders $ 23,240 279,911,556 $ 0.08 $ 19,095 284,486,177 $ 0.07 For the Six Months Ended March 31, 2017 2016 Income Shares Per share amount Income Shares Per share amount (Dollars in thousands, except per share data) Net income $ 43,071 $ 37,127 Less: income allocated to restricted stock units 425 361 Basic earnings per share: Income available to common shareholders $ 42,646 277,857,265 $ 0.15 $ 36,766 283,078,539 $ 0.13 Diluted earnings per share: Effect of dilutive potential common shares 2,234,614 2,333,899 Income available to common shareholders $ 42,646 280,091,879 $ 0.15 $ 36,766 285,412,438 $ 0.13 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 March 31, For the Six Months Ended March 31, 2017 2016 2017 2016 Options to purchase shares 693,900 826,700 693,900 393,500 Restricted stock units 16,500 13,500 16,500 — |
Investment Securities
Investment Securities | 6 Months Ended |
Mar. 31, 2017 | |
Investments [Abstract] | |
Investment Securities | INVESTMENT SECURITIES Investments available for sale are summarized as follows: March 31, 2017 Amortized Cost Gross Unrealized Fair Value Gains Losses REMICs $ 534,948 $ 61 $ (8,055 ) $ 526,954 Fannie Mae certificates 8,799 460 (35 ) 9,224 Total $ 543,747 $ 521 $ (8,090 ) $ 536,178 September 30, 2016 Amortized Gross Fair Gains Losses REMICs $ 508,044 $ 1,447 $ (1,494 ) $ 507,997 Fannie Mae certificates 9,184 685 — 9,869 Total $ 517,228 $ 2,132 $ (1,494 ) $ 517,866 Gross unrealized losses on available for sale securities and the estimated fair value of the related securities, aggregated by the length of time the securities have been in a continuous loss position, at March 31, 2017 and September 30, 2016 , were as follows: March 31, 2017 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 $ 426,796 $ 6,310 $ 85,863 $ 1,745 $ 512,659 $ 8,055 Fannie Mae certificates 4,643 35 — — 4,643 35 Total $ 431,439 $ 6,345 $ 85,863 $ 1,745 $ 517,302 $ 8,090 September 30, 2016 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 $ 210,735 $ 797 $ 73,361 $ 697 $ 284,096 $ 1,494 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. |
Loans And Allowance For Loan Lo
Loans And Allowance For Loan Losses | 6 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Loans And Allowance For Loan Losses | LOANS AND ALLOWANCE FOR LOAN LOSSES Loans held for investment consist of the following: March 31, September 30, Real estate loans: Residential Core $ 10,546,544 $ 10,069,652 Residential Home Today 114,721 121,938 Home equity loans and lines of credit 1,504,459 1,531,282 Construction 63,880 61,382 Real estate loans 12,229,604 11,784,254 Other consumer loans 3,012 3,116 Add (deduct): Deferred loan expenses, net 26,089 19,384 Loans in process ("LIP") (35,086 ) (36,155 ) Allowance for loan losses (56,841 ) (61,795 ) Loans held for investment, net $ 12,166,778 $ 11,708,804 At March 31, 2017 and September 30, 2016 , respectively, $4,299 and $4,686 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 March 31, 2017 and September 30, 2016 , the percentage of aggregate Residential Core, Home Today and Construction loans held in Ohio were 57% and 60% , respectively, and the percentages held in Florida were 16% as of both dates. As of March 31, 2017 and September 30, 2016 , home equity loans and lines of credit were concentrated in Ohio ( 39% as of both dates), Florida ( 23% and 24% ), and California ( 14% as of both dates). 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 Residential 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 in the Residential Core portfolio. 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 and loans are no longer originated under the Home Today program. As of March 31, 2017 and September 30, 2016 , the principal balance of Home Today loans originated prior to March 27, 2009 was $111,099 and $118,255 , 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 March 31, 2017 and September 30, 2016 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 March 31, 2017 Real estate loans: Residential Core $ 4,365 $ 3,963 $ 12,091 $ 20,419 $ 10,539,726 $ 10,560,145 Residential Home Today 3,485 1,230 7,916 12,631 100,738 113,369 Home equity loans and lines of credit 3,650 1,155 5,309 10,114 1,508,535 1,518,649 Construction — — — — 28,444 28,444 Total real estate loans 11,500 6,348 25,316 43,164 12,177,443 12,220,607 Other consumer loans — — — — 3,012 3,012 Total $ 11,500 $ 6,348 $ 25,316 $ 43,164 $ 12,180,455 $ 12,223,619 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total September 30, 2016 Real estate loans: Residential Core $ 6,653 $ 3,157 $ 15,593 $ 25,403 $ 10,054,211 $ 10,079,614 Residential Home Today 5,271 2,583 7,356 15,210 105,225 120,435 Home equity loans and lines of credit 4,605 1,811 4,932 11,348 1,531,242 1,542,590 Construction — — — — 24,844 24,844 Total real estate loans 16,529 7,551 27,881 51,961 11,715,522 11,767,483 Other consumer loans — — — — 3,116 3,116 Total $ 16,529 $ 7,551 $ 27,881 $ 51,961 $ 11,718,638 $ 11,770,599 At March 31, 2017 and September 30, 2016 , real estate loans include $17,007 and $20,047 , respectively, of loans that were in the process of foreclosure. 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. The recorded investment of loans in non-accrual status is summarized in the following table. Balances are adjusted for deferred loan fees or expenses. March 31, September 30, Real estate loans: Residential Core $ 46,893 $ 51,304 Residential Home Today 19,856 19,451 Home equity loans and lines of credit 16,877 19,206 Total non-accrual loans $ 83,626 $ 89,961 At March 31, 2017 and September 30, 2016 , respectively, the recorded investment in non-accrual loans includes $58,310 and $62,081 , which are performing according to the terms of their agreement, of which $37,816 and $40,546 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 past due, 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 March 31, 2017 and September 30, 2016 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. March 31, 2017 September 30, 2016 Individually Collectively Total Individually Collectively Total Real estate loans: Residential Core $ 100,713 $ 10,459,432 $ 10,560,145 $ 107,541 $ 9,972,073 $ 10,079,614 Residential Home Today 48,713 64,656 113,369 51,415 69,020 120,435 Home equity loans and lines of credit 38,727 1,479,922 1,518,649 35,894 1,506,696 1,542,590 Construction — 28,444 28,444 — 24,844 24,844 Total real estate loans 188,153 12,032,454 12,220,607 194,850 11,572,633 11,767,483 Other consumer loans — 3,012 3,012 — 3,116 3,116 Total $ 188,153 $ 12,035,466 $ 12,223,619 $ 194,850 $ 11,575,749 $ 11,770,599 An analysis of the allowance for loan losses at March 31, 2017 and September 30, 2016 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. March 31, 2017 September 30, 2016 Individually Collectively Total Individually Collectively Total Real estate loans: Residential Core $ 7,767 $ 5,169 $ 12,936 $ 8,927 $ 6,141 $ 15,068 Residential Home Today 2,439 2,261 4,700 2,979 4,437 7,416 Home equity loans and lines of credit 1,332 37,870 39,202 722 38,582 39,304 Construction — 3 3 — 7 7 Total $ 11,538 $ 45,303 $ 56,841 $ 12,628 $ 49,167 $ 61,795 At March 31, 2017 and September 30, 2016 , 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 March 31, 2017 and September 30, 2016 , respectively, allowances on individually reviewed loans evaluated for impairment based on the present value of cash flows, such as performing TDRs, were $11,460 and $12,432 . 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 March 31, 2017 and September 30, 2016 , respectively, approximately 23% and 27% 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 currently pays all claim payments at 71.5% . 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 the Association's total owned residential portfolio covered by mortgage insurance provided by PMIC as of March 31, 2017 and September 30, 2016 , respectively, was $73,927 and $91,784 , of which $68,334 and $84,007 was current. The amount of loans in the Association's total owned residential portfolio covered by mortgage insurance provided by Mortgage Guaranty Insurance Corporation as of March 31, 2017 and September 30, 2016 , respectively, was $34,028 and $40,578 of which $34,028 and $40,190 was current. As of March 31, 2017 , 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. Post-origination deterioration in economic and housing market conditions may 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 85%. Other consumer loans are comprised of loans secured by certificate of deposit accounts, which are fully recoverable in the event of non-payment. 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. The recorded investment and the unpaid principal balance of impaired loans, including those reported as TDRs, as of March 31, 2017 and September 30, 2016 are summarized as follows. Balances of recorded investments are adjusted for deferred loan fees or expenses. March 31, 2017 September 30, 2016 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related IVA recorded: Residential Core $ 50,871 $ 69,253 $ — $ 53,560 $ 72,693 $ — Residential Home Today 19,456 42,692 — 20,108 44,914 — Home equity loans and lines of credit 19,365 27,891 — 20,549 30,216 — Construction — — — — — — Total $ 89,692 $ 139,836 $ — $ 94,217 $ 147,823 $ — With an IVA recorded: Residential Core $ 49,842 $ 50,432 $ 7,767 $ 53,981 $ 54,717 $ 8,927 Residential Home Today 29,257 29,612 2,439 31,307 31,725 2,979 Home equity loans and lines of credit 19,362 19,372 1,332 15,345 15,357 722 Construction — — — — — — Total $ 98,461 $ 99,416 $ 11,538 $ 100,633 $ 101,799 $ 12,628 Total impaired loans: Residential Core $ 100,713 $ 119,685 $ 7,767 $ 107,541 $ 127,410 $ 8,927 Residential Home Today 48,713 72,304 2,439 51,415 76,639 2,979 Home equity loans and lines of credit 38,727 47,263 1,332 35,894 45,573 722 Construction — — — — — — Total $ 188,153 $ 239,252 $ 11,538 $ 194,850 $ 249,622 $ 12,628 At March 31, 2017 and September 30, 2016 , respectively, the recorded investment in impaired loans includes $167,011 and $170,602 of loans restructured in TDRs of which $11,937 and $12,368 were 90 days or more past due. 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 March 31, 2017 2016 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related IVA recorded: Residential Core $ 51,256 $ 431 $ 58,238 $ 277 Residential Home Today 19,601 42 20,797 65 Home equity loans and lines of credit 19,622 82 21,477 73 Construction — — — — Total $ 90,479 $ 555 $ 100,512 $ 415 With an IVA recorded: Residential Core $ 51,075 $ 468 $ 56,169 $ 568 Residential Home Today 29,785 361 33,549 423 Home equity loans and lines of credit 18,095 120 12,080 83 Construction — — — — Total $ 98,955 $ 949 $ 101,798 $ 1,074 Total impaired loans: Residential Core $ 102,331 $ 899 $ 114,407 $ 845 Residential Home Today 49,386 403 54,346 488 Home equity loans and lines of credit 37,717 202 33,557 156 Construction — — — — Total $ 189,434 $ 1,504 $ 202,310 $ 1,489 For the Six Months Ended March 31, 2017 2016 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related IVA recorded: Residential Core $ 52,216 $ 742 $ 59,484 $ 646 Residential Home Today 19,782 149 22,124 215 Home equity loans and lines of credit 19,957 149 21,996 137 Construction — — — — Total $ 91,955 $ 1,040 $ 103,604 $ 998 With an IVA recorded: Residential Core $ 51,912 $ 978 $ 56,884 $ 1,158 Residential Home Today 30,282 738 34,105 855 Home equity loans and lines of credit 17,354 598 11,793 160 Construction — — 213 — Total $ 99,548 $ 2,314 $ 102,995 $ 2,173 Total impaired loans: Residential Core $ 104,128 $ 1,720 $ 116,368 $ 1,804 Residential Home Today 50,064 887 56,229 1,070 Home equity loans and lines of credit 37,311 747 33,789 297 Construction — — 213 — Total $ 191,503 $ 3,354 $ 206,599 $ 3,171 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 $414 and $770 for the three and six months ended March 31, 2017 , respectively, and $315 and $764 for the three and six months ended March 31, 2016 . 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. 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 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 ____________________________ (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. 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 six months ended March 31, 2017 and March 31, 2016. The recorded investment in TDRs by type of concession as of March 31, 2017 and September 30, 2016 is shown in the tables below. March 31, 2017 Reduction in Interest Rates Payment Extensions Forbearance or Other Actions Multiple Concessions Multiple Restructurings Bankruptcy Total Residential Core $ 12,864 $ 723 $ 8,178 $ 21,703 $ 21,523 $ 25,408 $ 90,399 Residential Home Today 5,756 — 4,958 10,950 19,812 4,767 46,243 Home equity loans and lines of credit 114 4,960 358 12,833 1,204 10,900 30,369 Total $ 18,734 $ 5,683 $ 13,494 $ 45,486 $ 42,539 $ 41,075 $ 167,011 September 30, 2016 Reduction in Interest Rates Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 13,456 $ 748 $ 8,595 $ 22,641 $ 21,517 $ 28,263 $ 95,220 Residential Home Today 6,338 — 5,198 11,330 20,497 5,241 48,604 Home equity loans and lines of credit 120 4,135 401 9,354 1,166 11,602 26,778 Total $ 19,914 $ 4,883 $ 14,194 $ 43,325 $ 43,180 $ 45,106 $ 170,602 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 has improved, the need for multiple restructurings has begun to abate. 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 and six months ended March 31, 2017 and March 31, 2016 (set forth in the tables 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 March 31, 2017 Reduction in Interest Rates Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 521 $ — $ 274 $ 107 $ 156 $ 611 $ 1,669 Residential Home Today 12 — 189 78 963 119 1,361 Home equity loans and lines of credit — 773 — 1,838 89 460 3,160 Total $ 533 $ 773 $ 463 $ 2,023 $ 1,208 $ 1,190 $ 6,190 For the Three Months Ended March 31, 2016 Reduction in Interest Rates Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 491 $ — $ 172 $ 1,222 $ 734 $ 1,463 $ 4,082 Residential Home Today 171 — 209 151 806 91 1,428 Home equity loans and lines of credit — 185 28 1,232 225 170 1,840 Total $ 662 $ 185 $ 409 $ 2,605 $ 1,765 $ 1,724 $ 7,350 For the Six Months Ended March 31, 2017 Reduction in Interest Rates Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 521 $ — $ 475 $ 924 $ 879 $ 1,111 $ 3,910 Residential Home Today 81 — 258 311 1,471 311 2,432 Home equity loans and lines of credit — 1,000 — 4,094 275 989 6,358 Total $ 602 $ 1,000 $ 733 $ 5,329 $ 2,625 $ 2,411 $ 12,700 For the Six Months Ended March 31, 2016 Reduction Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 602 $ — $ 1,066 $ 2,398 $ 1,281 $ 3,217 $ 8,564 Residential Home Today 171 — 229 443 1,682 327 2,852 Home equity loans and lines of credit 59 407 36 2,277 343 534 3,656 Total $ 832 $ 407 $ 1,331 $ 5,118 $ 3,306 $ 4,078 $ 15,072 Below summarizes the information on TDRs restructured within the previous 12 months of the period presented 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 March 31, 2017 2016 TDRs Within the Previous 12 Months That Subsequently Defaulted Number of Contracts Recorded Investment Number of Recorded Residential Core 13 $ 1,031 19 $ 1,841 Residential Home Today 20 951 15 545 Home equity loans and lines of credit 13 636 13 480 Total 46 $ 2,618 47 $ 2,866 For the Six Months Ended March 31, 2017 2016 TDRs Within the Previous 12 Months That Subsequently Defaulted Number of Contracts Recorded Investment Number of Recorded Residential Core 17 $ 1,472 25 $ 2,401 Residential Home Today 20 951 17 646 Home equity loans and lines of credit 18 676 20 603 Total 55 $ 3,099 62 $ 3,650 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, as evaluated based on delinquency status, 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. 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 March 31, 2017 Real Estate Loans: Residential Core $ 10,507,647 $ — $ 52,498 $ — $ 10,560,145 Residential Home Today 92,322 — 21,047 — 113,369 Home equity loans and lines of credit 1,495,498 3,149 20,002 — 1,518,649 Construction 28,444 — — — 28,444 Total $ 12,123,911 $ 3,149 $ 93,547 $ — $ 12,220,607 Pass Special Mention Substandard Loss Total September 30, 2016 Real Estate Loans: Residential Core $ 10,022,555 $ — $ 57,059 $ — $ 10,079,614 Residential Home Today 99,442 — 20,993 — 120,435 Home equity loans and lines of credit 1,516,551 4,122 21,917 — 1,542,590 Construction 24,844 — — — 24,844 Total $ 11,663,392 $ 4,122 $ 99,969 $ — $ 11,767,483 At March 31, 2017 and September 30, 2016 , respectively, the recorded investment of impaired loans includes $99,407 and $101,227 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 March 31, 2017 and September 30, 2016 , respectively, there were $4,801 and $6,346 of loans classified substandard and $3,149 and $4,122 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 March 31, 2017 and September 30, 2016 , no consumer loans were graded as nonperforming. Activity in the allowance for loan losses is summarized as follows: For the Three Months Ended March 31, 2017 Beginning Balance Provisions Charge-offs Recoveries Ending Balance Real estate loans: Residential Core $ 14,807 $ (3,292 ) $ (727 ) $ 2,148 $ 12,936 Residential Home Today 5,955 (1,176 ) (396 ) 317 4,700 Home equity loans and lines of credit 39,680 (1,530 ) (1,108 ) 2,160 39,202 Construction 5 (2 ) — — 3 Total $ 60,447 $ (6,000 ) $ (2,231 ) $ 4,625 $ 56,841 For the Three Months Ended March 31, 2016 Beginning Balance Provisions Charge-offs Recoveries Ending Balance Real estate loans: Residential Core $ 20,468 $ (2,022 ) $ (1,266 ) $ 1,430 $ 18,610 Residential Home Today 9,852 200 (612 ) 321 9,761 Home equity loans and lines of credit 38,907 825 (1,747 ) 1,940 39,925 Construction 14 (3 ) — — 11 Total $ 69,241 $ (1,000 ) $ (3,625 ) $ 3,691 $ 68,307 For the Six Months Ended March 31, 2017 Beginning Balance Provisions Charge-offs Recoveries Ending Balance Real estate loans: Residential Core $ 15,068 $ (3,062 ) $ (1,899 ) $ 2,829 $ 12,936 Residential Home Today 7,416 (2,126 ) (1,198 ) 608 4,700 Home equity loans and lines of credit 39,304 (808 ) (3,157 ) 3,863 39,202 Construction 7 (4 ) — — 3 Total $ 61,795 $ (6,000 ) $ (6,254 ) $ 7,300 $ 56,841 For the Six Months Ended March 31, 2016 Beginning Balance Provisions Charge-offs Recoveries Ending Balance Real estate loans: Residential Core $ 22,596 $ (3,786 ) $ (2,548 ) $ 2,348 $ 18,610 Residential Home Today 9,997 463 (1,438 ) 739 9,761 Home equity loans and lines of credit 38,926 1,347 (3,851 ) 3,503 39,925 Construction 35 (24 ) — — 11 Total $ 71,554 $ (2,000 ) $ (7,837 ) $ 6,590 $ 68,307 |
Deposits
Deposits | 6 Months Ended |
Mar. 31, 2017 | |
Deposits [Abstract] | |
Deposits | DEPOSITS Deposit account balances are summarized as follows: March 31, September 30, Checking accounts $ 1,025,688 $ 995,372 Savings accounts 1,540,607 1,514,428 Certificates of deposit 5,619,911 5,819,642 8,186,206 8,329,442 Accrued interest 1,799 1,926 Total deposits $ 8,188,005 $ 8,331,368 Brokered certificates of deposit (exclusive of acquisition costs and subsequent amortization), which are used as a cost effective funding alternative, totaled $539,705 at March 31, 2017 and $539,775 at September 30, 2016 . 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 March 31, 2017 and September 30, 2016 , the Association may accept brokered deposits without FDIC restrictions. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 6 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 March 31, 2016 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 $ (5,611 ) $ 11,249 $ (18,326 ) $ (12,688 ) $ (3,326 ) $ 55 $ (14,741 ) $ (18,012 ) Other comprehensive income (loss) before reclassifications, net of tax expense of $234 and $1,430 692 (258 ) — 434 4,544 (1,888 ) — 2,656 Amounts reclassified from accumulated other comprehensive income (loss), net of tax benefit of $464 and $235 — 515 346 861 — 188 251 439 Other comprehensive income (loss) 692 257 346 1,295 4,544 (1,700 ) 251 3,095 Balance at end of period $ (4,919 ) $ 11,506 $ (17,980 ) $ (11,393 ) $ 1,218 $ (1,645 ) $ (14,490 ) $ (14,917 ) For the Six Months Ended For the Six Months Ended March 31, 2017 March 31, 2016 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 $ 416 $ (1,371 ) $ (18,671 ) $ (19,626 ) $ 1,926 $ — $ (14,991 ) $ (13,065 ) Other comprehensive income (loss) before reclassifications, net of tax (expense) benefit of $(3,571) and $1,373 (5,335 ) 11,966 — 6,631 (708 ) (1,841 ) — (2,549 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax benefit of $863 and $376 — 911 691 1,602 — 196 501 697 Other comprehensive income (loss) (5,335 ) 12,877 691 8,233 (708 ) (1,645 ) 501 (1,852 ) Balance at end of period $ (4,919 ) $ 11,506 $ (17,980 ) $ (11,393 ) $ 1,218 $ (1,645 ) $ (14,490 ) $ (14,917 ) The following table presents the reclassification adjustment out of accumulated other comprehensive income 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 March 31, For the Six Months Ended March 31, Line Item in the Statement of Income 2017 2016 2017 2016 Cash flow hedges: Interest expense, effective portion $ 793 $ 289 $ 1,402 $ 302 Interest expense Income tax benefit (278 ) (101 ) (491 ) (106 ) Income tax expense Net of income tax benefit 515 188 911 196 Amortization of pension plan: Actuarial loss 532 385 1,063 771 (a) Income tax benefit (186 ) (134 ) (372 ) (270 ) Income tax expense Net of income tax benefit 346 251 691 501 Total reclassifications for the period $ 861 $ 439 $ 1,602 $ 697 (a) This item is included in the computation of net periodic pension cost. See Note 8. Defined Benefit Plan for additional disclosure. |
Income Taxes
Income Taxes | 6 Months Ended |
Mar. 31, 2017 | |
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 a few exceptions, the Company is no longer subject to income tax examinations in its major jurisdictions for tax years prior to 2013. 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’s effective income tax rate was 32.6% and 34.0% for the six months ended March 31, 2017 and March 31, 2016 , respectively. The decrease in the effective rate for the six months ended March 31, 2017 compared to the same period 2016 was primarily due to the adoption of ASU 2016-09, Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting on October 1, 2016. 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 and six months ended March 31, 2017 and March 31, 2016 . |
Defined Benefit Plan
Defined Benefit Plan | 6 Months Ended |
Mar. 31, 2017 | |
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 of net periodic cost recognized in the statements of income are as follows: Three Months Ended Six Months Ended March 31, March 31, 2017 2016 2017 2016 Interest cost $ 767 $ 822 $ 1,534 $ 1,644 Expected return on plan assets (1,034 ) (1,027 ) (2,067 ) (2,055 ) Amortization of net loss 532 385 1,063 771 Net periodic cost $ 265 $ 180 $ 530 $ 360 There were no required minimum employer contributions during the six months ended March 31, 2017 . No minimum employer contributions are expected during the remainder of the fiscal year. |
Equity Incentive Plan
Equity Incentive Plan | 6 Months Ended |
Mar. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plan | EQUITY INCENTIVE PLAN In December 2016 and January 2017, 293,200 and 7,200 options to purchase our common stock and 69,300 and 3,600 restricted stock units were granted, respectively, to certain directors, officers or employees of the Company. The awards were made pursuant to the shareholder-approved 2008 Equity Incentive Plan. During the six months ended March 31, 2017 and 2016 , the Company recorded $2,005 and $3,500 , respectively, of stock-based compensation expense, comprised of stock option expense of $805 and $1,455 , respectively, and restricted stock units expense of $1,200 and $2,045 , respectively. At March 31, 2017 , 4,523,802 shares were subject to options, with a weighted average exercise price of $13.26 per share and a weighted average grant date fair value of $2.97 per share. Expected future expense related to the 1,490,361 non-vested options outstanding as of March 31, 2017 is $2,293 over a weighted average period of 2.3 years. At March 31, 2017 , 665,545 restricted stock units, with a weighted average grant date fair value of $14.10 per unit, are unvested. Expected future compensation expense relating to the 1,186,538 restricted stock units outstanding as of March 31, 2017 is $2,578 over a weighted average period of 1.7 years. Each unit is equivalent to one share of common stock. |
Commitments And Contingent Liab
Commitments And Contingent Liabilities | 6 Months Ended |
Mar. 31, 2017 | |
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 obligations, 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 March 31, 2017 , the Company had commitments to originate loans as follows: Fixed-rate mortgage loans $ 214,011 Adjustable-rate mortgage loans 299,847 Equity loans and lines of credit 90,863 Total $ 604,721 At March 31, 2017 , the Company had unfunded commitments outstanding as follows: Equity lines of credit $ 1,351,487 Construction loans 35,086 Private equity investments 11,541 Total $ 1,398,114 At March 31, 2017 , 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 $1,450,733 . 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 | 6 Months Ended |
Mar. 31, 2017 | |
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 under current market conditions 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 March 31, 2017 and September 30, 2016 there were no loans held for sale subject to pending agency contracts for which the fair value option was elected. 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 March 31, 2017 and September 30, 2016 , respectively, this includes $536,178 and $517,866 of investments in 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 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 March 31, 2017 and September 30, 2016 there were $4,299 and $4,686 , respectively, of loans held for sale carried at fair value and at cost, respectively. 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 fair value of the underlying collateral. Impairment is measured using a 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 . 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 under current market conditions 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: 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 March 31, 2017 and September 30, 2016 , respectively, this included $101,336 and $102,079 in recorded investment of TDRs with related allowances for loss of $11,460 and $12,432 . 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 March 31, 2017 and September 30, 2016 , these adjustments were not significant to reported fair values. At March 31, 2017 and September 30, 2016 , respectively, $3,332 and $4,192 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 $413 and $521 related to properties measured at fair value and $2,698 and $3,132 of properties carried at their original or adjusted cost basis at March 31, 2017 and September 30, 2016 , 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. See Note 12. Derivative Instruments for additional details. 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 and liabilities carried at fair value on a recurring basis in the Consolidated Statements of Condition at March 31, 2017 and September 30, 2016 are summarized below. Recurring Fair Value Measurements at Reporting Date Using March 31, 2017 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: REMICs $ 526,954 $ — $ 526,954 $ — Fannie Mae certificates 9,224 — 9,224 — Derivatives: Interest rate lock commitments 42 — — 42 Interest rate swaps 18,361 — 18,361 — Total $ 554,581 $ — $ 554,539 $ 42 Liabilities Derivatives: Interest rate swaps $ 659 $ — $ 659 $ — Total $ 659 $ — $ 659 $ — Recurring Fair Value Measurements at Reporting Date Using September 30, 2016 Quoted Prices in Significant Other Significant (Level 1) (Level 2) (Level 3) Assets Investment securities available for sale: REMICs $ 507,997 $ — $ 507,997 $ — Fannie Mae certificates 9,869 — 9,869 — Derivatives: Interest rate lock commitments 99 — — 99 Interest rate swaps 772 — $ 772 — Total $ 518,737 $ — $ 518,638 $ 99 Liabilities Derivatives: Interest rate swaps $ 2,880 $ — $ 2,880 $ — Total $ 2,880 $ — $ 2,880 $ — 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 March 31, Six Months Ended March 31, 2017 2016 2017 2016 Beginning balance $ 47 $ 84 $ 99 $ 79 Gain (loss) during the period due to changes in fair value: Included in other non-interest income (5 ) 20 (57 ) 25 Ending balance $ 42 $ 104 $ 42 $ 104 Change in unrealized gains for the period included in earnings for assets held at end of the reporting date $ 42 $ 104 $ 42 $ 104 Summarized in the tables below are those assets measured at fair value on a nonrecurring basis. Nonrecurring Fair Value Measurements at Reporting Date Using March 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 $ 86,738 $ — $ — $ 86,738 Mortgage loans held for sale 4,299 — 4,299 — Real estate owned (1) 3,332 — — 3,332 Total $ 94,369 $ — $ 4,299 $ 90,070 (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 $ 92,576 $ — $ — $ 92,576 Real estate owned (1) 4,192 — — 4,192 Total $ 96,768 $ — $ — $ 96,768 (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 3/31/2017 Valuation Technique(s) Unobservable Input Range Average Impaired loans, net of allowance $86,738 Market comparables of collateral discounted to estimated net proceeds Discount appraised value to estimated net proceeds based on historical experience: • Residential Properties 0 - 26% 7.9% Interest rate lock commitments $42 Quoted Secondary Market pricing Closure rate 0 - 100% 90.6% Fair Value Weighted 9/30/2016 Valuation Technique(s) Unobservable Input Range Average Impaired loans, net of allowance $92,576 Market comparables of collateral discounted to estimated net proceeds Discount appraised value to estimated net proceeds based on historical experience: • Residential Properties 0 - 26% 8.2% Interest rate lock commitments $99 Quoted Secondary Market pricing Closure rate 0 - 100% 93.0% The following tables present the estimated fair value of the Company’s financial instruments. March 31, 2017 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 Assets: Cash and due from banks $ 29,025 $ 29,025 $ 29,025 $ — $ — Interest earning cash equivalents 211,739 211,739 211,739 — — Investment securities available for sale 536,178 536,178 — 536,178 — Mortgage loans held for sale 4,299 4,299 — 4,299 — Loans, net: Mortgage loans held for investment 12,163,766 12,477,970 — — 12,477,970 Other loans 3,012 3,103 — — 3,103 Federal Home Loan Bank stock 82,877 82,877 N/A — — Accrued interest receivable 33,771 33,771 — 33,771 — Derivatives 18,403 18,403 — 18,361 42 Liabilities: Checking and passbook accounts $ 2,566,295 $ 2,566,295 $ — $ 2,566,295 $ — Certificates of deposit 5,621,710 5,449,760 — 5,449,760 — Borrowed funds 3,366,189 3,375,374 — 3,375,374 — Borrowers’ advances for taxes and insurance 84,732 84,732 — 84,732 — Principal, interest and escrow owed on loans serviced 36,559 36,559 — 36,559 — Cash collateral received from counterparty 7,364 7,364 7,364 — — Derivatives 659 659 — 659 — September 30, 2016 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 Assets: Cash and due from banks $ 27,914 $ 27,914 $ 27,914 $ — $ — Interest earning cash equivalents 203,325 203,325 203,325 — — Investment securities available for sale 517,866 517,866 — 517,866 — Mortgage loans held for sale 4,686 4,839 — 4,839 — Loans, net: Mortgage loans held for investment 11,705,688 12,177,536 — — 12,177,536 Other loans 3,116 3,277 — — 3,277 Federal Home Loan Bank stock 69,853 69,853 N/A — — Accrued interest receivable 32,818 32,818 — 32,818 — Cash collateral held by counterparty 10,480 10,480 10,480 — — Derivatives 871 871 — 772 99 Liabilities: Checking and passbook accounts $ 2,509,800 $ 2,509,800 $ — $ 2,509,800 $ — Certificates of deposit 5,821,568 5,832,958 — 5,832,958 — Borrowed funds 2,718,795 2,740,565 — 2,740,565 — Borrowers’ advances for taxes and insurance 92,313 92,313 — 92,313 — Principal, interest and escrow owed on loans serviced 49,401 49,401 — 49,401 — Derivatives 2,880 2,880 — 2,880 — 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, Cash Collateral Received from or Held by Counterparty— 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. 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 | 6 Months Ended |
Mar. 31, 2017 | |
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. These derivatives are used to hedge the forecasted cash outflows associated with the Company's FHLB 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. 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. The following table presents additional information about the interest rate swaps used in the Company's asset/liability management strategy. Cash Flow Hedges March 31, 2017 September 30, 2016 Notional value $ 975,000 $ 600,000 Fair value 17,702 (2,108 ) Weighted-average rate receive 1.08 % 0.79 % Weighted-average rate pay 1.49 % 1.21 % Average maturity (in years) 4.3 4.5 Amounts reported in AOCI related to derivatives are reclassified to interest expense during the same period in which the hedged transaction affects earnings. During the next twelve months, the Company estimates that $1,091 of the amounts reported in AOCI 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 March 31, 2017 or September 30, 2016 . 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 tables provide the locations within the Consolidated Statements of Condition and fair values for all derivative instruments. Asset Derivatives March 31, 2017 September 30, 2016 Location Fair Value Location Fair Value Derivatives designated as hedging instruments Cash flow hedges: Interest rate swaps Other Assets $ 18,361 Other Assets $ 772 Derivatives not designated as hedging instruments Interest rate lock commitments Other Assets $ 42 Other Assets $ 99 Liability Derivatives March 31, 2017 September 30, 2016 Location Fair Value Location Fair Value Derivatives designated as hedging instruments Cash flow hedges: Interest rate swaps Other Liabilities $ 659 Other Liabilities $ 2,880 The following tables present 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 Six Months Ended Location of Gain or (Loss) March 31, March 31, Recognized in Income 2017 2016 2017 2016 Cash flow hedges Amount of gain/(loss) recognized, effective portion Other comprehensive income $ (397 ) $ (2,905 ) $ 18,409 $ (2,833 ) Amount of loss reclassified from AOCI Interest expense (793 ) (289 ) (1,402 ) (302 ) Amount of ineffectiveness recognized Other non-interest income — — — — Derivatives not designated as hedging instruments Interest rate lock commitments Other non-interest income $ (5 ) $ 20 $ (57 ) $ 25 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. The Company’s interest rate swaps are cleared through a registered clearing broker. At March 31, 2017 , the Company held cash collateral of $7,364 related to interest rate swaps in positive positions. At September 30, 2016 , the Company posted cash collateral of $10,480 , related to interest rate swaps in liability positions. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Mar. 31, 2017 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Pronouncements | RECENT ACCOUNTING PRONOUNCEMENTS Adopted during the quarter ended March 31, 2017 In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815), Effects of Derivative Contract Novations on Existing Hedge Accounting Relationships. This amendment clarifies that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedging accounting criteria continue to be met. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early adoption is permitted. An entity has an option to apply the amendments in this Update on either a prospective or a modified retrospective basis. The Company elected to early adopt this accounting guidance using a prospective method and will consider opportunities provided by these amendments in future SWAP transactions. The adoption of this accounting guidance does not currently affect the Company's financial condition and results of operations. Pending as of March 31, 2017 In March 2017, the FASB issued ASU 2017-07 Compensation - Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This Update was issued to improve the presentation of net periodic pension or benefit costs for employers that offer their employees defined benefit pension plans, postretirement benefit plans, or other types of benefits accounted for under Topic 715. The current guidance does not prescribe where the amount of net benefit cost should be presented in an employer’s income statement and does not require entities to disclose by line item the amount of net benefit cost that is included in the income statement or capitalized in assets. This accounting and disclosure guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual periods. Early adoption is permitted as of the beginning of an annual period for which financial statements have not been made available for issuance. The amendments in this Update should be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets. The Company is planning to early adopt this guidance as of the December 31, 2017 interim reporting period and expects that there will be no material effect on the Company’s financial condition and results of operations. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This Update simplifies how an entity is required to test goodwill impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. An entity will still perform its annual or interim goodwill impairment test by comparing the fair value of the reporting unit with its carrying amount. Under this guidance, an entity would recognize an impairment charge for the amount by which the carry amount exceeds the fair value, not to exceed the total amount of goodwill allocated to that reporting unit. The entity still has the option to perform the qualitative assessment to determine if the quantitative impairment test is necessary. An entity should apply the amendments in this Update on a prospective basis, with disclosure of the nature and reason for a change in accounting principle upon transition. The amendments in this Update are effective for annual and interim goodwill impairment testing in fiscal years beginning after December 15, 2019, with early adoption permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company plans to implement this change as of September 30, 2017, taking into consideration these amendments with the goodwill impairment test performed using the June 30, 2017 financial statements, and expects no material change in financial condition and results of operations. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The amendments in this Update address eight specific cash flow issues with the objective of reducing the existing diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows under Topic 230, Statement of Cash Flows, and Other Topics. Current guidance is either unclear or does not include specific guidance on these issues. Additionally, in November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230) Restricted Cash, which requires restricted cash or restricted cash equivalents be included in beginning-of-period and end-of-period cash totals and changes in this classification be explained separately. The amendments in both these Updates are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years and should be applied using a retrospective transition method to each period presented. Early adoption is permitted, provided that all of the amendments are adopted in the same period. Adoption of this accounting guidance may affect the presentation in our Consolidated Statements of Cash Flows. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. The amendments in this Update replace the existing incurred loss impairment methodology with a methodology that reflects the expected credit losses for the remaining life of the asset. This will require consideration of a broader range of information, including reasonably supportable forecasts, in the measurement of expected credit losses. The amendments expand disclosures of credit quality indicators, requiring disaggregation by year of origination (vintage). Additionally, credit losses on available for sale debt securities will be recognized as an allowance rather than a write-down, with reversals permitted as credit loss estimates decline. An entity will apply the amendments in this Update through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (that is, a modified-retrospective approach). For public business entities that are SEC filers, the amendments are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted though not considered at this time. Management has formed a working group comprised of teams from across the association including accounting, risk management, and finance. This group has begun assessing the required changes to our credit loss estimation methodologies and systems, as well as additional data and resources that may be required to comply with this standard. The Company is currently evaluating the impact that this accounting guidance may have on its financial condition and results of operations. The actual effect on our allowance for loan losses at the adoption date will depend on the nature of the characteristics of the portfolio at that date, as well as the macroeconomic conditions and forecasts at that date. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). This guidance changes the accounting treatment of leases by requiring lessees to recognize operating leases on the balance sheet as lease assets (a right-to-use asset) and lease liabilities (a liability to make lease payments), measured on a discounted basis and will require both quantitative and qualitative disclosure regarding key information about the leasing arrangements. An accounting policy election to not recognize operating leases with terms of 12 months or less as assets and liabilities is permitted. This guidance will be effective for the fiscal year beginning after December 15, 2018, with early adoption permitted. A modified retrospective approach is required that includes a number of optional practical expedients to address leases that commenced before the effective date. The Company expects to recognize a right-to-use asset and a lease liability for its operating lease commitments on the Consolidated Statements of Condition and is assessing the impact this new standard will have on its financial condition and results of operations In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities. This ASU changes the accounting for certain equity investments, financial liabilities under the fair value option and presentation and disclosure requirements for financial instruments. Equity investments not accounted for under the equity method of accounting will be measured at fair value with changes recognized in net income. If there are no readily determinable fair values, the guidance allows entities to measure investments at cost less impairment, whereby impairment is based on a qualitative assessment. The guidance eliminates the requirement to disclose the methods and significant assumptions used to estimate fair value of financial instruments measured at amortized cost. If an entity has elected the fair value option to measure liabilities, the new accounting guidance requires the portion of the change in fair value of a liability resulting from credit risk to be presented in OCI. This accounting and disclosure guidance will be effective for the fiscal year beginning after December 15, 2017, including interim periods within those fiscal years on a prospective basis, with a cumulative-effect adjustment to the balance sheet at the beginning of the fiscal year adopted. Early adoption is not permitted. The Company is currently evaluating the impact that this accounting guidance may have on its financial condition and results of operations. 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. This guidance eliminates the requirement to categorize investments measured at net value per share (or its equivalent) using the practical expedient in the fair value hierarchy table and eliminates certain disclosures required for these investments. 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 retrospectively for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. This guidance is effective for the Company for fiscal year 2017 but will only affect the disclosures related to pension fair value in the year-end reporting. The adoption of this disclosure guidance is not expected to materially affect the Company's financial condition and results of operations. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), that revises the criteria for determining when to recognize revenue from contracts with customers and expands disclosure requirements. This ASU affects 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. In August 2015, the FASB issued ASU 2015-14 which defers the effective date of ASU 2014-09 by one year; annual reporting periods and interim period within those annual periods beginning after December 15, 2017. Early adoption is permitted but only for interim and annual reporting periods beginning after December 15, 2016. During 2016 and 2017, the FASB also issued five separate ASUs which amend the original guidance regarding principal versus agent considerations, identify performance obligations and licensing, address the presentation of sales tax, noncash consideration, contract modifications at transition, and assessing collectability, gains and losses from derecognition of nonfinancial assets and other minor technical corrections and improvements. The requirements within 2014-09 and its subsequent amendments should be applied retrospectively or modified retrospectively with a cumulative-effect adjustment. The Company's preliminary analysis suggests that the adoption of this accounting guidance is not expected to have a material effect on its financial condition and results of operations. We will continue to evaluate any impact as additional guidance is issued and as our internal assessment continues. 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) | 6 Months Ended |
Mar. 31, 2017 | |
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. As of March 31, 2017 , approximately 80% 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 U.S. GAAP 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 deferred tax assets, and the determination of pension obligations 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 March 31, 2017 , 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 SEC 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, 2016 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, 2017 or for any other period. |
Loans and Leases Receivable, Nonaccrual Loan and Lease Status, Policy | 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 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 ____________________________ (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. 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. 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 past due, 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 | 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 has improved, the need for multiple restructurings has begun to abate. Loans discharged in Chapter 7 bankruptcy are classified as multiple restructurings if the loan's original terms had also been restructured by the Association. 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 six months ended March 31, 2017 and March 31, 2016. |
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 under current market conditions 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 | RECENT ACCOUNTING PRONOUNCEMENTS Adopted during the quarter ended March 31, 2017 In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815), Effects of Derivative Contract Novations on Existing Hedge Accounting Relationships. This amendment clarifies that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedging accounting criteria continue to be met. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early adoption is permitted. An entity has an option to apply the amendments in this Update on either a prospective or a modified retrospective basis. The Company elected to early adopt this accounting guidance using a prospective method and will consider opportunities provided by these amendments in future SWAP transactions. The adoption of this accounting guidance does not currently affect the Company's financial condition and results of operations. Pending as of March 31, 2017 In March 2017, the FASB issued ASU 2017-07 Compensation - Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This Update was issued to improve the presentation of net periodic pension or benefit costs for employers that offer their employees defined benefit pension plans, postretirement benefit plans, or other types of benefits accounted for under Topic 715. The current guidance does not prescribe where the amount of net benefit cost should be presented in an employer’s income statement and does not require entities to disclose by line item the amount of net benefit cost that is included in the income statement or capitalized in assets. This accounting and disclosure guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual periods. Early adoption is permitted as of the beginning of an annual period for which financial statements have not been made available for issuance. The amendments in this Update should be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets. The Company is planning to early adopt this guidance as of the December 31, 2017 interim reporting period and expects that there will be no material effect on the Company’s financial condition and results of operations. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This Update simplifies how an entity is required to test goodwill impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. An entity will still perform its annual or interim goodwill impairment test by comparing the fair value of the reporting unit with its carrying amount. Under this guidance, an entity would recognize an impairment charge for the amount by which the carry amount exceeds the fair value, not to exceed the total amount of goodwill allocated to that reporting unit. The entity still has the option to perform the qualitative assessment to determine if the quantitative impairment test is necessary. An entity should apply the amendments in this Update on a prospective basis, with disclosure of the nature and reason for a change in accounting principle upon transition. The amendments in this Update are effective for annual and interim goodwill impairment testing in fiscal years beginning after December 15, 2019, with early adoption permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company plans to implement this change as of September 30, 2017, taking into consideration these amendments with the goodwill impairment test performed using the June 30, 2017 financial statements, and expects no material change in financial condition and results of operations. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The amendments in this Update address eight specific cash flow issues with the objective of reducing the existing diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows under Topic 230, Statement of Cash Flows, and Other Topics. Current guidance is either unclear or does not include specific guidance on these issues. Additionally, in November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230) Restricted Cash, which requires restricted cash or restricted cash equivalents be included in beginning-of-period and end-of-period cash totals and changes in this classification be explained separately. The amendments in both these Updates are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years and should be applied using a retrospective transition method to each period presented. Early adoption is permitted, provided that all of the amendments are adopted in the same period. Adoption of this accounting guidance may affect the presentation in our Consolidated Statements of Cash Flows. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. The amendments in this Update replace the existing incurred loss impairment methodology with a methodology that reflects the expected credit losses for the remaining life of the asset. This will require consideration of a broader range of information, including reasonably supportable forecasts, in the measurement of expected credit losses. The amendments expand disclosures of credit quality indicators, requiring disaggregation by year of origination (vintage). Additionally, credit losses on available for sale debt securities will be recognized as an allowance rather than a write-down, with reversals permitted as credit loss estimates decline. An entity will apply the amendments in this Update through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (that is, a modified-retrospective approach). For public business entities that are SEC filers, the amendments are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted though not considered at this time. Management has formed a working group comprised of teams from across the association including accounting, risk management, and finance. This group has begun assessing the required changes to our credit loss estimation methodologies and systems, as well as additional data and resources that may be required to comply with this standard. The Company is currently evaluating the impact that this accounting guidance may have on its financial condition and results of operations. The actual effect on our allowance for loan losses at the adoption date will depend on the nature of the characteristics of the portfolio at that date, as well as the macroeconomic conditions and forecasts at that date. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). This guidance changes the accounting treatment of leases by requiring lessees to recognize operating leases on the balance sheet as lease assets (a right-to-use asset) and lease liabilities (a liability to make lease payments), measured on a discounted basis and will require both quantitative and qualitative disclosure regarding key information about the leasing arrangements. An accounting policy election to not recognize operating leases with terms of 12 months or less as assets and liabilities is permitted. This guidance will be effective for the fiscal year beginning after December 15, 2018, with early adoption permitted. A modified retrospective approach is required that includes a number of optional practical expedients to address leases that commenced before the effective date. The Company expects to recognize a right-to-use asset and a lease liability for its operating lease commitments on the Consolidated Statements of Condition and is assessing the impact this new standard will have on its financial condition and results of operations In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities. This ASU changes the accounting for certain equity investments, financial liabilities under the fair value option and presentation and disclosure requirements for financial instruments. Equity investments not accounted for under the equity method of accounting will be measured at fair value with changes recognized in net income. If there are no readily determinable fair values, the guidance allows entities to measure investments at cost less impairment, whereby impairment is based on a qualitative assessment. The guidance eliminates the requirement to disclose the methods and significant assumptions used to estimate fair value of financial instruments measured at amortized cost. If an entity has elected the fair value option to measure liabilities, the new accounting guidance requires the portion of the change in fair value of a liability resulting from credit risk to be presented in OCI. This accounting and disclosure guidance will be effective for the fiscal year beginning after December 15, 2017, including interim periods within those fiscal years on a prospective basis, with a cumulative-effect adjustment to the balance sheet at the beginning of the fiscal year adopted. Early adoption is not permitted. The Company is currently evaluating the impact that this accounting guidance may have on its financial condition and results of operations. 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. This guidance eliminates the requirement to categorize investments measured at net value per share (or its equivalent) using the practical expedient in the fair value hierarchy table and eliminates certain disclosures required for these investments. 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 retrospectively for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. This guidance is effective for the Company for fiscal year 2017 but will only affect the disclosures related to pension fair value in the year-end reporting. The adoption of this disclosure guidance is not expected to materially affect the Company's financial condition and results of operations. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), that revises the criteria for determining when to recognize revenue from contracts with customers and expands disclosure requirements. This ASU affects 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. In August 2015, the FASB issued ASU 2015-14 which defers the effective date of ASU 2014-09 by one year; annual reporting periods and interim period within those annual periods beginning after December 15, 2017. Early adoption is permitted but only for interim and annual reporting periods beginning after December 15, 2016. During 2016 and 2017, the FASB also issued five separate ASUs which amend the original guidance regarding principal versus agent considerations, identify performance obligations and licensing, address the presentation of sales tax, noncash consideration, contract modifications at transition, and assessing collectability, gains and losses from derecognition of nonfinancial assets and other minor technical corrections and improvements. The requirements within 2014-09 and its subsequent amendments should be applied retrospectively or modified retrospectively with a cumulative-effect adjustment. The Company's preliminary analysis suggests that the adoption of this accounting guidance is not expected to have a material effect on its financial condition and results of operations. We will continue to evaluate any impact as additional guidance is issued and as our internal assessment continues. 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) | 6 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 2016 Income Shares Per share amount Income Shares Per share amount (Dollars in thousands, except per share data) Net income $ 23,461 $ 19,276 Less: income allocated to restricted stock units 221 181 Basic earnings per share: Income available to common shareholders $ 23,240 277,787,284 $ 0.08 $ 19,095 282,314,098 $ 0.07 Diluted earnings per share: Effect of dilutive potential common shares 2,124,272 2,172,079 Income available to common shareholders $ 23,240 279,911,556 $ 0.08 $ 19,095 284,486,177 $ 0.07 For the Six Months Ended March 31, 2017 2016 Income Shares Per share amount Income Shares Per share amount (Dollars in thousands, except per share data) Net income $ 43,071 $ 37,127 Less: income allocated to restricted stock units 425 361 Basic earnings per share: Income available to common shareholders $ 42,646 277,857,265 $ 0.15 $ 36,766 283,078,539 $ 0.13 Diluted earnings per share: Effect of dilutive potential common shares 2,234,614 2,333,899 Income available to common shareholders $ 42,646 280,091,879 $ 0.15 $ 36,766 285,412,438 $ 0.13 |
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 March 31, For the Six Months Ended March 31, 2017 2016 2017 2016 Options to purchase shares 693,900 826,700 693,900 393,500 Restricted stock units 16,500 13,500 16,500 — |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Mar. 31, 2017 | |
Investments [Abstract] | |
Investments Securities Available For Sale | Investments available for sale are summarized as follows: March 31, 2017 Amortized Cost Gross Unrealized Fair Value Gains Losses REMICs $ 534,948 $ 61 $ (8,055 ) $ 526,954 Fannie Mae certificates 8,799 460 (35 ) 9,224 Total $ 543,747 $ 521 $ (8,090 ) $ 536,178 September 30, 2016 Amortized Gross Fair Gains Losses REMICs $ 508,044 $ 1,447 $ (1,494 ) $ 507,997 Fannie Mae certificates 9,184 685 — 9,869 Total $ 517,228 $ 2,132 $ (1,494 ) $ 517,866 |
Schedule Of Securities Continuous Unrealized Loss Position | Gross unrealized losses on available for sale securities and the estimated fair value of the related securities, aggregated by the length of time the securities have been in a continuous loss position, at March 31, 2017 and September 30, 2016 , were as follows: March 31, 2017 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 $ 426,796 $ 6,310 $ 85,863 $ 1,745 $ 512,659 $ 8,055 Fannie Mae certificates 4,643 35 — — 4,643 35 Total $ 431,439 $ 6,345 $ 85,863 $ 1,745 $ 517,302 $ 8,090 September 30, 2016 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 $ 210,735 $ 797 $ 73,361 $ 697 $ 284,096 $ 1,494 |
Loans And Allowance For Loan 25
Loans And Allowance For Loan Losses (Tables) | 6 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Schedule Of Loans Held For Investment | Loans held for investment consist of the following: March 31, September 30, Real estate loans: Residential Core $ 10,546,544 $ 10,069,652 Residential Home Today 114,721 121,938 Home equity loans and lines of credit 1,504,459 1,531,282 Construction 63,880 61,382 Real estate loans 12,229,604 11,784,254 Other consumer loans 3,012 3,116 Add (deduct): Deferred loan expenses, net 26,089 19,384 Loans in process ("LIP") (35,086 ) (36,155 ) Allowance for loan losses (56,841 ) (61,795 ) Loans held for investment, net $ 12,166,778 $ 11,708,804 |
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 March 31, 2017 and September 30, 2016 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 March 31, 2017 Real estate loans: Residential Core $ 4,365 $ 3,963 $ 12,091 $ 20,419 $ 10,539,726 $ 10,560,145 Residential Home Today 3,485 1,230 7,916 12,631 100,738 113,369 Home equity loans and lines of credit 3,650 1,155 5,309 10,114 1,508,535 1,518,649 Construction — — — — 28,444 28,444 Total real estate loans 11,500 6,348 25,316 43,164 12,177,443 12,220,607 Other consumer loans — — — — 3,012 3,012 Total $ 11,500 $ 6,348 $ 25,316 $ 43,164 $ 12,180,455 $ 12,223,619 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total September 30, 2016 Real estate loans: Residential Core $ 6,653 $ 3,157 $ 15,593 $ 25,403 $ 10,054,211 $ 10,079,614 Residential Home Today 5,271 2,583 7,356 15,210 105,225 120,435 Home equity loans and lines of credit 4,605 1,811 4,932 11,348 1,531,242 1,542,590 Construction — — — — 24,844 24,844 Total real estate loans 16,529 7,551 27,881 51,961 11,715,522 11,767,483 Other consumer loans — — — — 3,116 3,116 Total $ 16,529 $ 7,551 $ 27,881 $ 51,961 $ 11,718,638 $ 11,770,599 |
Schedule Of Recorded Investment Of Loan Receivables In Non-Accrual Status | The recorded investment of loans in non-accrual status is summarized in the following table. Balances are adjusted for deferred loan fees or expenses. March 31, September 30, Real estate loans: Residential Core $ 46,893 $ 51,304 Residential Home Today 19,856 19,451 Home equity loans and lines of credit 16,877 19,206 Total non-accrual loans $ 83,626 $ 89,961 |
Schedule Of The Allowance For Loan Losses | The recorded investment in loan receivables at March 31, 2017 and September 30, 2016 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. March 31, 2017 September 30, 2016 Individually Collectively Total Individually Collectively Total Real estate loans: Residential Core $ 100,713 $ 10,459,432 $ 10,560,145 $ 107,541 $ 9,972,073 $ 10,079,614 Residential Home Today 48,713 64,656 113,369 51,415 69,020 120,435 Home equity loans and lines of credit 38,727 1,479,922 1,518,649 35,894 1,506,696 1,542,590 Construction — 28,444 28,444 — 24,844 24,844 Total real estate loans 188,153 12,032,454 12,220,607 194,850 11,572,633 11,767,483 Other consumer loans — 3,012 3,012 — 3,116 3,116 Total $ 188,153 $ 12,035,466 $ 12,223,619 $ 194,850 $ 11,575,749 $ 11,770,599 An analysis of the allowance for loan losses at March 31, 2017 and September 30, 2016 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. March 31, 2017 September 30, 2016 Individually Collectively Total Individually Collectively Total Real estate loans: Residential Core $ 7,767 $ 5,169 $ 12,936 $ 8,927 $ 6,141 $ 15,068 Residential Home Today 2,439 2,261 4,700 2,979 4,437 7,416 Home equity loans and lines of credit 1,332 37,870 39,202 722 38,582 39,304 Construction — 3 3 — 7 7 Total $ 11,538 $ 45,303 $ 56,841 $ 12,628 $ 49,167 $ 61,795 Activity in the allowance for loan losses is summarized as follows: For the Three Months Ended March 31, 2017 Beginning Balance Provisions Charge-offs Recoveries Ending Balance Real estate loans: Residential Core $ 14,807 $ (3,292 ) $ (727 ) $ 2,148 $ 12,936 Residential Home Today 5,955 (1,176 ) (396 ) 317 4,700 Home equity loans and lines of credit 39,680 (1,530 ) (1,108 ) 2,160 39,202 Construction 5 (2 ) — — 3 Total $ 60,447 $ (6,000 ) $ (2,231 ) $ 4,625 $ 56,841 For the Three Months Ended March 31, 2016 Beginning Balance Provisions Charge-offs Recoveries Ending Balance Real estate loans: Residential Core $ 20,468 $ (2,022 ) $ (1,266 ) $ 1,430 $ 18,610 Residential Home Today 9,852 200 (612 ) 321 9,761 Home equity loans and lines of credit 38,907 825 (1,747 ) 1,940 39,925 Construction 14 (3 ) — — 11 Total $ 69,241 $ (1,000 ) $ (3,625 ) $ 3,691 $ 68,307 For the Six Months Ended March 31, 2017 Beginning Balance Provisions Charge-offs Recoveries Ending Balance Real estate loans: Residential Core $ 15,068 $ (3,062 ) $ (1,899 ) $ 2,829 $ 12,936 Residential Home Today 7,416 (2,126 ) (1,198 ) 608 4,700 Home equity loans and lines of credit 39,304 (808 ) (3,157 ) 3,863 39,202 Construction 7 (4 ) — — 3 Total $ 61,795 $ (6,000 ) $ (6,254 ) $ 7,300 $ 56,841 For the Six Months Ended March 31, 2016 Beginning Balance Provisions Charge-offs Recoveries Ending Balance Real estate loans: Residential Core $ 22,596 $ (3,786 ) $ (2,548 ) $ 2,348 $ 18,610 Residential Home Today 9,997 463 (1,438 ) 739 9,761 Home equity loans and lines of credit 38,926 1,347 (3,851 ) 3,503 39,925 Construction 35 (24 ) — — 11 Total $ 71,554 $ (2,000 ) $ (7,837 ) $ 6,590 $ 68,307 |
Schedule Of Impaired Loans | The recorded investment and the unpaid principal balance of impaired loans, including those reported as TDRs, as of March 31, 2017 and September 30, 2016 are summarized as follows. Balances of recorded investments are adjusted for deferred loan fees or expenses. March 31, 2017 September 30, 2016 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related IVA recorded: Residential Core $ 50,871 $ 69,253 $ — $ 53,560 $ 72,693 $ — Residential Home Today 19,456 42,692 — 20,108 44,914 — Home equity loans and lines of credit 19,365 27,891 — 20,549 30,216 — Construction — — — — — — Total $ 89,692 $ 139,836 $ — $ 94,217 $ 147,823 $ — With an IVA recorded: Residential Core $ 49,842 $ 50,432 $ 7,767 $ 53,981 $ 54,717 $ 8,927 Residential Home Today 29,257 29,612 2,439 31,307 31,725 2,979 Home equity loans and lines of credit 19,362 19,372 1,332 15,345 15,357 722 Construction — — — — — — Total $ 98,461 $ 99,416 $ 11,538 $ 100,633 $ 101,799 $ 12,628 Total impaired loans: Residential Core $ 100,713 $ 119,685 $ 7,767 $ 107,541 $ 127,410 $ 8,927 Residential Home Today 48,713 72,304 2,439 51,415 76,639 2,979 Home equity loans and lines of credit 38,727 47,263 1,332 35,894 45,573 722 Construction — — — — — — Total $ 188,153 $ 239,252 $ 11,538 $ 194,850 $ 249,622 $ 12,628 At March 31, 2017 and September 30, 2016 , respectively, the recorded investment in impaired loans includes $167,011 and $170,602 of loans restructured in TDRs of which $11,937 and $12,368 were 90 days or more past due. 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 March 31, 2017 2016 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related IVA recorded: Residential Core $ 51,256 $ 431 $ 58,238 $ 277 Residential Home Today 19,601 42 20,797 65 Home equity loans and lines of credit 19,622 82 21,477 73 Construction — — — — Total $ 90,479 $ 555 $ 100,512 $ 415 With an IVA recorded: Residential Core $ 51,075 $ 468 $ 56,169 $ 568 Residential Home Today 29,785 361 33,549 423 Home equity loans and lines of credit 18,095 120 12,080 83 Construction — — — — Total $ 98,955 $ 949 $ 101,798 $ 1,074 Total impaired loans: Residential Core $ 102,331 $ 899 $ 114,407 $ 845 Residential Home Today 49,386 403 54,346 488 Home equity loans and lines of credit 37,717 202 33,557 156 Construction — — — — Total $ 189,434 $ 1,504 $ 202,310 $ 1,489 For the Six Months Ended March 31, 2017 2016 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related IVA recorded: Residential Core $ 52,216 $ 742 $ 59,484 $ 646 Residential Home Today 19,782 149 22,124 215 Home equity loans and lines of credit 19,957 149 21,996 137 Construction — — — — Total $ 91,955 $ 1,040 $ 103,604 $ 998 With an IVA recorded: Residential Core $ 51,912 $ 978 $ 56,884 $ 1,158 Residential Home Today 30,282 738 34,105 855 Home equity loans and lines of credit 17,354 598 11,793 160 Construction — — 213 — Total $ 99,548 $ 2,314 $ 102,995 $ 2,173 Total impaired loans: Residential Core $ 104,128 $ 1,720 $ 116,368 $ 1,804 Residential Home Today 50,064 887 56,229 1,070 Home equity loans and lines of credit 37,311 747 33,789 297 Construction — — 213 — Total $ 191,503 $ 3,354 $ 206,599 $ 3,171 |
Schedule Of Troubled Debt Restructured Loans | Below summarizes the information on TDRs restructured within the previous 12 months of the period presented 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 March 31, 2017 2016 TDRs Within the Previous 12 Months That Subsequently Defaulted Number of Contracts Recorded Investment Number of Recorded Residential Core 13 $ 1,031 19 $ 1,841 Residential Home Today 20 951 15 545 Home equity loans and lines of credit 13 636 13 480 Total 46 $ 2,618 47 $ 2,866 For the Six Months Ended March 31, 2017 2016 TDRs Within the Previous 12 Months That Subsequently Defaulted Number of Contracts Recorded Investment Number of Recorded Residential Core 17 $ 1,472 25 $ 2,401 Residential Home Today 20 951 17 646 Home equity loans and lines of credit 18 676 20 603 Total 55 $ 3,099 62 $ 3,650 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 March 31, 2017 Reduction in Interest Rates Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 521 $ — $ 274 $ 107 $ 156 $ 611 $ 1,669 Residential Home Today 12 — 189 78 963 119 1,361 Home equity loans and lines of credit — 773 — 1,838 89 460 3,160 Total $ 533 $ 773 $ 463 $ 2,023 $ 1,208 $ 1,190 $ 6,190 For the Three Months Ended March 31, 2016 Reduction in Interest Rates Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 491 $ — $ 172 $ 1,222 $ 734 $ 1,463 $ 4,082 Residential Home Today 171 — 209 151 806 91 1,428 Home equity loans and lines of credit — 185 28 1,232 225 170 1,840 Total $ 662 $ 185 $ 409 $ 2,605 $ 1,765 $ 1,724 $ 7,350 For the Six Months Ended March 31, 2017 Reduction in Interest Rates Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 521 $ — $ 475 $ 924 $ 879 $ 1,111 $ 3,910 Residential Home Today 81 — 258 311 1,471 311 2,432 Home equity loans and lines of credit — 1,000 — 4,094 275 989 6,358 Total $ 602 $ 1,000 $ 733 $ 5,329 $ 2,625 $ 2,411 $ 12,700 For the Six Months Ended March 31, 2016 Reduction Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 602 $ — $ 1,066 $ 2,398 $ 1,281 $ 3,217 $ 8,564 Residential Home Today 171 — 229 443 1,682 327 2,852 Home equity loans and lines of credit 59 407 36 2,277 343 534 3,656 Total $ 832 $ 407 $ 1,331 $ 5,118 $ 3,306 $ 4,078 $ 15,072 The recorded investment in TDRs by type of concession as of March 31, 2017 and September 30, 2016 is shown in the tables below. March 31, 2017 Reduction in Interest Rates Payment Extensions Forbearance or Other Actions Multiple Concessions Multiple Restructurings Bankruptcy Total Residential Core $ 12,864 $ 723 $ 8,178 $ 21,703 $ 21,523 $ 25,408 $ 90,399 Residential Home Today 5,756 — 4,958 10,950 19,812 4,767 46,243 Home equity loans and lines of credit 114 4,960 358 12,833 1,204 10,900 30,369 Total $ 18,734 $ 5,683 $ 13,494 $ 45,486 $ 42,539 $ 41,075 $ 167,011 September 30, 2016 Reduction in Interest Rates Payment Extensions Forbearance Multiple Concessions Multiple Bankruptcy Total Residential Core $ 13,456 $ 748 $ 8,595 $ 22,641 $ 21,517 $ 28,263 $ 95,220 Residential Home Today 6,338 — 5,198 11,330 20,497 5,241 48,604 Home equity loans and lines of credit 120 4,135 401 9,354 1,166 11,602 26,778 Total $ 19,914 $ 4,883 $ 14,194 $ 43,325 $ 43,180 $ 45,106 $ 170,602 |
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 March 31, 2017 Real Estate Loans: Residential Core $ 10,507,647 $ — $ 52,498 $ — $ 10,560,145 Residential Home Today 92,322 — 21,047 — 113,369 Home equity loans and lines of credit 1,495,498 3,149 20,002 — 1,518,649 Construction 28,444 — — — 28,444 Total $ 12,123,911 $ 3,149 $ 93,547 $ — $ 12,220,607 Pass Special Mention Substandard Loss Total September 30, 2016 Real Estate Loans: Residential Core $ 10,022,555 $ — $ 57,059 $ — $ 10,079,614 Residential Home Today 99,442 — 20,993 — 120,435 Home equity loans and lines of credit 1,516,551 4,122 21,917 — 1,542,590 Construction 24,844 — — — 24,844 Total $ 11,663,392 $ 4,122 $ 99,969 $ — $ 11,767,483 |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Mar. 31, 2017 | |
Deposits [Abstract] | |
Summary Of Deposit Account Balances | Deposit account balances are summarized as follows: March 31, September 30, Checking accounts $ 1,025,688 $ 995,372 Savings accounts 1,540,607 1,514,428 Certificates of deposit 5,619,911 5,819,642 8,186,206 8,329,442 Accrued interest 1,799 1,926 Total deposits $ 8,188,005 $ 8,331,368 |
Other Comprehensive Income (L27
Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 March 31, 2016 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 $ (5,611 ) $ 11,249 $ (18,326 ) $ (12,688 ) $ (3,326 ) $ 55 $ (14,741 ) $ (18,012 ) Other comprehensive income (loss) before reclassifications, net of tax expense of $234 and $1,430 692 (258 ) — 434 4,544 (1,888 ) — 2,656 Amounts reclassified from accumulated other comprehensive income (loss), net of tax benefit of $464 and $235 — 515 346 861 — 188 251 439 Other comprehensive income (loss) 692 257 346 1,295 4,544 (1,700 ) 251 3,095 Balance at end of period $ (4,919 ) $ 11,506 $ (17,980 ) $ (11,393 ) $ 1,218 $ (1,645 ) $ (14,490 ) $ (14,917 ) For the Six Months Ended For the Six Months Ended March 31, 2017 March 31, 2016 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 $ 416 $ (1,371 ) $ (18,671 ) $ (19,626 ) $ 1,926 $ — $ (14,991 ) $ (13,065 ) Other comprehensive income (loss) before reclassifications, net of tax (expense) benefit of $(3,571) and $1,373 (5,335 ) 11,966 — 6,631 (708 ) (1,841 ) — (2,549 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax benefit of $863 and $376 — 911 691 1,602 — 196 501 697 Other comprehensive income (loss) (5,335 ) 12,877 691 8,233 (708 ) (1,645 ) 501 (1,852 ) Balance at end of period $ (4,919 ) $ 11,506 $ (17,980 ) $ (11,393 ) $ 1,218 $ (1,645 ) $ (14,490 ) $ (14,917 ) |
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 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 March 31, For the Six Months Ended March 31, Line Item in the Statement of Income 2017 2016 2017 2016 Cash flow hedges: Interest expense, effective portion $ 793 $ 289 $ 1,402 $ 302 Interest expense Income tax benefit (278 ) (101 ) (491 ) (106 ) Income tax expense Net of income tax benefit 515 188 911 196 Amortization of pension plan: Actuarial loss 532 385 1,063 771 (a) Income tax benefit (186 ) (134 ) (372 ) (270 ) Income tax expense Net of income tax benefit 346 251 691 501 Total reclassifications for the period $ 861 $ 439 $ 1,602 $ 697 (a) This item is included in the computation of net periodic pension cost. See Note 8. Defined Benefit Plan for additional disclosure. |
Defined Benefit Plan (Tables)
Defined Benefit Plan (Tables) | 6 Months Ended |
Mar. 31, 2017 | |
Compensation and Retirement Disclosure [Abstract] | |
Components Of Net Periodic Benefit Cost Recognized | The components of net periodic cost recognized in the statements of income are as follows: Three Months Ended Six Months Ended March 31, March 31, 2017 2016 2017 2016 Interest cost $ 767 $ 822 $ 1,534 $ 1,644 Expected return on plan assets (1,034 ) (1,027 ) (2,067 ) (2,055 ) Amortization of net loss 532 385 1,063 771 Net periodic cost $ 265 $ 180 $ 530 $ 360 |
Commitments And Contingent Li29
Commitments And Contingent Liabilities (Tables) | 6 Months Ended |
Mar. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule Of Commitments To Originate And Unfunded Commitments | At March 31, 2017 , the Company had commitments to originate loans as follows: Fixed-rate mortgage loans $ 214,011 Adjustable-rate mortgage loans 299,847 Equity loans and lines of credit 90,863 Total $ 604,721 At March 31, 2017 , the Company had unfunded commitments outstanding as follows: Equity lines of credit $ 1,351,487 Construction loans 35,086 Private equity investments 11,541 Total $ 1,398,114 |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Of Assets And Liabilities Measured On Recurring Basis | Assets and liabilities carried at fair value on a recurring basis in the Consolidated Statements of Condition at March 31, 2017 and September 30, 2016 are summarized below. Recurring Fair Value Measurements at Reporting Date Using March 31, 2017 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: REMICs $ 526,954 $ — $ 526,954 $ — Fannie Mae certificates 9,224 — 9,224 — Derivatives: Interest rate lock commitments 42 — — 42 Interest rate swaps 18,361 — 18,361 — Total $ 554,581 $ — $ 554,539 $ 42 Liabilities Derivatives: Interest rate swaps $ 659 $ — $ 659 $ — Total $ 659 $ — $ 659 $ — Recurring Fair Value Measurements at Reporting Date Using September 30, 2016 Quoted Prices in Significant Other Significant (Level 1) (Level 2) (Level 3) Assets Investment securities available for sale: REMICs $ 507,997 $ — $ 507,997 $ — Fannie Mae certificates 9,869 — 9,869 — Derivatives: Interest rate lock commitments 99 — — 99 Interest rate swaps 772 — $ 772 — Total $ 518,737 $ — $ 518,638 $ 99 Liabilities Derivatives: Interest rate swaps $ 2,880 $ — $ 2,880 $ — Total $ 2,880 $ — $ 2,880 $ — |
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 March 31, Six Months Ended March 31, 2017 2016 2017 2016 Beginning balance $ 47 $ 84 $ 99 $ 79 Gain (loss) during the period due to changes in fair value: Included in other non-interest income (5 ) 20 (57 ) 25 Ending balance $ 42 $ 104 $ 42 $ 104 Change in unrealized gains for the period included in earnings for assets held at end of the reporting date $ 42 $ 104 $ 42 $ 104 |
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. Nonrecurring Fair Value Measurements at Reporting Date Using March 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 $ 86,738 $ — $ — $ 86,738 Mortgage loans held for sale 4,299 — 4,299 — Real estate owned (1) 3,332 — — 3,332 Total $ 94,369 $ — $ 4,299 $ 90,070 (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 $ 92,576 $ — $ — $ 92,576 Real estate owned (1) 4,192 — — 4,192 Total $ 96,768 $ — $ — $ 96,768 (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 3/31/2017 Valuation Technique(s) Unobservable Input Range Average Impaired loans, net of allowance $86,738 Market comparables of collateral discounted to estimated net proceeds Discount appraised value to estimated net proceeds based on historical experience: • Residential Properties 0 - 26% 7.9% Interest rate lock commitments $42 Quoted Secondary Market pricing Closure rate 0 - 100% 90.6% Fair Value Weighted 9/30/2016 Valuation Technique(s) Unobservable Input Range Average Impaired loans, net of allowance $92,576 Market comparables of collateral discounted to estimated net proceeds Discount appraised value to estimated net proceeds based on historical experience: • Residential Properties 0 - 26% 8.2% Interest rate lock commitments $99 Quoted Secondary Market pricing Closure rate 0 - 100% 93.0% |
Estimated Fair Value Of Financial Instruments | The following tables present the estimated fair value of the Company’s financial instruments. March 31, 2017 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 Assets: Cash and due from banks $ 29,025 $ 29,025 $ 29,025 $ — $ — Interest earning cash equivalents 211,739 211,739 211,739 — — Investment securities available for sale 536,178 536,178 — 536,178 — Mortgage loans held for sale 4,299 4,299 — 4,299 — Loans, net: Mortgage loans held for investment 12,163,766 12,477,970 — — 12,477,970 Other loans 3,012 3,103 — — 3,103 Federal Home Loan Bank stock 82,877 82,877 N/A — — Accrued interest receivable 33,771 33,771 — 33,771 — Derivatives 18,403 18,403 — 18,361 42 Liabilities: Checking and passbook accounts $ 2,566,295 $ 2,566,295 $ — $ 2,566,295 $ — Certificates of deposit 5,621,710 5,449,760 — 5,449,760 — Borrowed funds 3,366,189 3,375,374 — 3,375,374 — Borrowers’ advances for taxes and insurance 84,732 84,732 — 84,732 — Principal, interest and escrow owed on loans serviced 36,559 36,559 — 36,559 — Cash collateral received from counterparty 7,364 7,364 7,364 — — Derivatives 659 659 — 659 — September 30, 2016 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 Assets: Cash and due from banks $ 27,914 $ 27,914 $ 27,914 $ — $ — Interest earning cash equivalents 203,325 203,325 203,325 — — Investment securities available for sale 517,866 517,866 — 517,866 — Mortgage loans held for sale 4,686 4,839 — 4,839 — Loans, net: Mortgage loans held for investment 11,705,688 12,177,536 — — 12,177,536 Other loans 3,116 3,277 — — 3,277 Federal Home Loan Bank stock 69,853 69,853 N/A — — Accrued interest receivable 32,818 32,818 — 32,818 — Cash collateral held by counterparty 10,480 10,480 10,480 — — Derivatives 871 871 — 772 99 Liabilities: Checking and passbook accounts $ 2,509,800 $ 2,509,800 $ — $ 2,509,800 $ — Certificates of deposit 5,821,568 5,832,958 — 5,832,958 — Borrowed funds 2,718,795 2,740,565 — 2,740,565 — Borrowers’ advances for taxes and insurance 92,313 92,313 — 92,313 — Principal, interest and escrow owed on loans serviced 49,401 49,401 — 49,401 — Derivatives 2,880 2,880 — 2,880 — |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 6 Months Ended |
Mar. 31, 2017 | |
Summary of Derivative Instruments [Abstract] | |
Schedule of Interest Rate Derivatives | The following table presents additional information about the interest rate swaps used in the Company's asset/liability management strategy. Cash Flow Hedges March 31, 2017 September 30, 2016 Notional value $ 975,000 $ 600,000 Fair value 17,702 (2,108 ) Weighted-average rate receive 1.08 % 0.79 % Weighted-average rate pay 1.49 % 1.21 % Average maturity (in years) 4.3 4.5 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following tables provide the locations within the Consolidated Statements of Condition and fair values for all derivative instruments. Asset Derivatives March 31, 2017 September 30, 2016 Location Fair Value Location Fair Value Derivatives designated as hedging instruments Cash flow hedges: Interest rate swaps Other Assets $ 18,361 Other Assets $ 772 Derivatives not designated as hedging instruments Interest rate lock commitments Other Assets $ 42 Other Assets $ 99 Liability Derivatives March 31, 2017 September 30, 2016 Location Fair Value Location Fair Value Derivatives designated as hedging instruments Cash flow hedges: Interest rate swaps Other Liabilities $ 659 Other Liabilities $ 2,880 |
Schedule of Effect of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The following tables present 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 Six Months Ended Location of Gain or (Loss) March 31, March 31, Recognized in Income 2017 2016 2017 2016 Cash flow hedges Amount of gain/(loss) recognized, effective portion Other comprehensive income $ (397 ) $ (2,905 ) $ 18,409 $ (2,833 ) Amount of loss reclassified from AOCI Interest expense (793 ) (289 ) (1,402 ) (302 ) Amount of ineffectiveness recognized Other non-interest income — — — — Derivatives not designated as hedging instruments Interest rate lock commitments Other non-interest income $ (5 ) $ 20 $ (57 ) $ 25 |
Basis Of Presentation (Details)
Basis Of Presentation (Details) | Mar. 31, 2017 |
Third Federal Savings, MHC | Common Stock | |
Percentage of the Company's outstanding shares held by Third Federal Savings, MHC | 80.00% |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - shares | Mar. 31, 2017 | Mar. 31, 2016 |
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) | 5,525,081 | 5,958,421 |
Earnings Per Share (Summary Of
Earnings Per Share (Summary Of Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Share [Abstract] | ||||
Net income | $ 23,461 | $ 19,276 | $ 43,071 | $ 37,127 |
Less: income allocated to restricted stock units | 221 | 181 | 425 | 361 |
Income available to common shareholders | $ 23,240 | $ 19,095 | $ 42,646 | $ 36,766 |
Income available to common shareholders, Shares | 277,787,284 | 282,314,098 | 277,857,265 | 283,078,539 |
Income available to common shareholders, per share amount, basic | $ 0.08 | $ 0.07 | $ 0.15 | $ 0.13 |
Effect of dilutive potential common shares | 2,124,272 | 2,172,079 | 2,234,614 | 2,333,899 |
Income available to common shareholders | $ 23,240 | $ 19,095 | $ 42,646 | $ 36,766 |
Income available to common shareholders, Shares | 279,911,556 | 284,486,177 | 280,091,879 | 285,412,438 |
Income available to common shareholders, per share amount, diluted | $ 0.08 | $ 0.07 | $ 0.15 | $ 0.13 |
Earnings Per Share (Schedule of
Earnings Per Share (Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share) (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
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) | 693,900 | 826,700 | 693,900 | 393,500 |
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) | 16,500 | 13,500 | 16,500 | 0 |
Investment Securities (Investme
Investment Securities (Investments Securities Available For Sale) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Schedule of Available For Sale Securities [Line Items] | ||
Investments securities available for sale, Amortized Cost | $ 543,747 | $ 517,228 |
Available-for-sale securities, gross unrealized gain | 521 | 2,132 |
Available-for-sale securities, gross unrealized losses | (8,090) | (1,494) |
Available-for-sale Securities | 536,178 | 517,866 |
REMIC's | ||
Schedule of Available For Sale Securities [Line Items] | ||
Investments securities available for sale, Amortized Cost | 534,948 | 508,044 |
Available-for-sale securities, gross unrealized gain | 61 | 1,447 |
Available-for-sale securities, gross unrealized losses | (8,055) | (1,494) |
Available-for-sale Securities | 526,954 | 507,997 |
Fannie Mae Certificates | ||
Schedule of Available For Sale Securities [Line Items] | ||
Investments securities available for sale, Amortized Cost | 8,799 | 9,184 |
Available-for-sale securities, gross unrealized gain | 460 | 685 |
Available-for-sale securities, gross unrealized losses | (35) | 0 |
Available-for-sale Securities | $ 9,224 | $ 9,869 |
Investment Securities (Invest37
Investment Securities (Investment Securities Held at a Continuous Loss) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Schedule of Available For Sale Securities [Line Items] | ||
Available-for-sale securities, Less Than Twelve Months, Estimated Fair Value | $ 431,439 | |
Available-for-sale Securities, Less Than Twelve Months, Unrealized Loss | 6,345 | |
Available-for-sale securities, Twelve Months or Longer, Estimated Fair Value | 85,863 | |
Available-for-sale securities, Twelve Months or Longer, Unrealized Loss | 1,745 | |
Available-for-sale securities, Total Estimated Fair Value | 517,302 | |
Available-for-sale securities, Total Unrealized Losses | 8,090 | |
REMIC's | ||
Schedule of Available For Sale Securities [Line Items] | ||
Available-for-sale securities, Less Than Twelve Months, Estimated Fair Value | 426,796 | $ 210,735 |
Available-for-sale Securities, Less Than Twelve Months, Unrealized Loss | 6,310 | 797 |
Available-for-sale securities, Twelve Months or Longer, Estimated Fair Value | 85,863 | 73,361 |
Available-for-sale securities, Twelve Months or Longer, Unrealized Loss | 1,745 | 697 |
Available-for-sale securities, Total Estimated Fair Value | 512,659 | 284,096 |
Available-for-sale securities, Total Unrealized Losses | 8,055 | $ 1,494 |
Fannie Mae Certificates | ||
Schedule of Available For Sale Securities [Line Items] | ||
Available-for-sale securities, Less Than Twelve Months, Estimated Fair Value | 4,643 | |
Available-for-sale Securities, Less Than Twelve Months, Unrealized Loss | 35 | |
Available-for-sale securities, Twelve Months or Longer, Estimated Fair Value | 0 | |
Available-for-sale securities, Twelve Months or Longer, Unrealized Loss | 0 | |
Available-for-sale securities, Total Estimated Fair Value | 4,643 | |
Available-for-sale securities, Total Unrealized Losses | $ 35 |
Loans And Allowance For Loan 38
Loans And Allowance For Loan Losses (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2017USD ($)loans | Mar. 31, 2016USD ($)loans | Sep. 30, 2016USD ($) | |
Loan Portfolio [Line Items] | |||||
Mortgage loans held-for-sale | $ 4,299 | $ 4,299 | $ 4,686 | ||
Real estate loans | 12,229,604 | 12,229,604 | 11,784,254 | ||
Loans in process of foreclosure | 17,007 | 17,007 | 20,047 | ||
Interest income on impaired loans recognized using a cash-basis method | 414 | $ 315 | $ 770 | $ 764 | |
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 | ||||
Troubled debt restructuring reclassed from impaired | loans | 0 | 0 | |||
Other consumer loans | 3,012 | $ 3,012 | 3,116 | ||
Nonperforming | |||||
Loan Portfolio [Line Items] | |||||
Other consumer loans | $ 0 | $ 0 | $ 0 | ||
Residential Core, Home Today and Construction | Florida | |||||
Loan Portfolio [Line Items] | |||||
Residential real estate loans held, percent | 16.00% | 16.00% | 16.00% | ||
Residential Core, Home Today and Construction | Ohio | |||||
Loan Portfolio [Line Items] | |||||
Residential real estate loans held, percent | 57.00% | 57.00% | 60.00% | ||
Home Equity Loans And Lines Of Credit | |||||
Loan Portfolio [Line Items] | |||||
Real estate loans | $ 1,504,459 | $ 1,504,459 | $ 1,531,282 | ||
Home Equity Loans And Lines Of Credit | Florida | |||||
Loan Portfolio [Line Items] | |||||
Residential real estate loans held, percent | 23.00% | 23.00% | 24.00% | ||
Home Equity Loans And Lines Of Credit | Ohio | |||||
Loan Portfolio [Line Items] | |||||
Residential real estate loans held, percent | 39.00% | 39.00% | 39.00% | ||
Home Equity Loans And Lines Of Credit | California | |||||
Loan Portfolio [Line Items] | |||||
Residential real estate loans held, percent | 14.00% | 14.00% | 14.00% | ||
Residential Home Today | |||||
Loan Portfolio [Line Items] | |||||
Real estate loans | $ 114,721 | $ 114,721 | $ 121,938 | ||
Residential Home Today Loans Originated Prior To March 27, 2009 | |||||
Loan Portfolio [Line Items] | |||||
Real estate loans | $ 111,099 | $ 111,099 | $ 118,255 |
Loans And Allowance For Loan 39
Loans And Allowance For Loan Losses (Loans Held For Investment) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Loan Portfolio [Line Items] | ||
Real estate loans | $ 12,229,604 | $ 11,784,254 |
Other consumer loans | 3,012 | 3,116 |
Deferred loan expense, net | 26,089 | 19,384 |
LIP | (35,086) | (36,155) |
Allowance for loan losses | (56,841) | (61,795) |
Loans, net | 12,166,778 | 11,708,804 |
Residential Core | ||
Loan Portfolio [Line Items] | ||
Real estate loans | 10,546,544 | 10,069,652 |
Residential Home Today | ||
Loan Portfolio [Line Items] | ||
Real estate loans | 114,721 | 121,938 |
Home Equity Loans And Lines Of Credit | ||
Loan Portfolio [Line Items] | ||
Real estate loans | 1,504,459 | 1,531,282 |
Construction | ||
Loan Portfolio [Line Items] | ||
Real estate loans | $ 63,880 | $ 61,382 |
Loans And Allowance For Loan 40
Loans And Allowance For Loan Losses (Schedule Of Recorded Investment In Loan Receivables That Are Past Due) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 43,164 | $ 51,961 |
Current | 12,180,455 | 11,718,638 |
Total | 12,223,619 | 11,770,599 |
30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 11,500 | 16,529 |
60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 6,348 | 7,551 |
Equal to Greater than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 25,316 | 27,881 |
Residential Core | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 20,419 | 25,403 |
Current | 10,539,726 | 10,054,211 |
Total | 10,560,145 | 10,079,614 |
Residential Core | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 4,365 | 6,653 |
Residential Core | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 3,963 | 3,157 |
Residential Core | Equal to Greater than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 12,091 | 15,593 |
Residential Home Today | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 12,631 | 15,210 |
Current | 100,738 | 105,225 |
Total | 113,369 | 120,435 |
Residential Home Today | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 3,485 | 5,271 |
Residential Home Today | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,230 | 2,583 |
Residential Home Today | Equal to Greater than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 7,916 | 7,356 |
Home Equity Loans And Lines Of Credit | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 10,114 | 11,348 |
Current | 1,508,535 | 1,531,242 |
Total | 1,518,649 | 1,542,590 |
Home Equity Loans And Lines Of Credit | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 3,650 | 4,605 |
Home Equity Loans And Lines Of Credit | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,155 | 1,811 |
Home Equity Loans And Lines Of Credit | Equal to Greater than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 5,309 | 4,932 |
Construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 0 | 0 |
Current | 28,444 | 24,844 |
Total | 28,444 | 24,844 |
Construction | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 0 | 0 |
Construction | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 0 | 0 |
Construction | Equal to Greater than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 0 | 0 |
Total Real Estate Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 43,164 | 51,961 |
Current | 12,177,443 | 11,715,522 |
Total | 12,220,607 | 11,767,483 |
Total Real Estate Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 11,500 | 16,529 |
Total Real Estate Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 6,348 | 7,551 |
Total Real Estate Loans | Equal to Greater than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 25,316 | 27,881 |
Other Consumer Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 0 | 0 |
Current | 3,012 | 3,116 |
Total | 3,012 | 3,116 |
Other Consumer Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 0 | 0 |
Other Consumer Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 0 | 0 |
Other Consumer Loans | Equal to Greater than 90 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 0 | $ 0 |
Loans And Allowance For Loan 41
Loans And Allowance For Loan Losses (Schedule Of Recorded Investment Of Loan Receivables In Non-Accrual Status) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Financing Receivable, Recorded Investment, Past Due, Nonaccrual Status [Line Items] | ||
Total non-accrual loans | $ 83,626 | $ 89,961 |
Performing | ||
Financing Receivable, Recorded Investment, Past Due, Nonaccrual Status [Line Items] | ||
Total non-accrual loans | 58,310 | 62,081 |
Performing Chapter 7 Bankruptcy | ||
Financing Receivable, Recorded Investment, Past Due, Nonaccrual Status [Line Items] | ||
Total non-accrual loans | 37,816 | 40,546 |
Residential Core | ||
Financing Receivable, Recorded Investment, Past Due, Nonaccrual Status [Line Items] | ||
Total non-accrual loans | 46,893 | 51,304 |
Residential Home Today | ||
Financing Receivable, Recorded Investment, Past Due, Nonaccrual Status [Line Items] | ||
Total non-accrual loans | 19,856 | 19,451 |
Home Equity Loans And Lines Of Credit | ||
Financing Receivable, Recorded Investment, Past Due, Nonaccrual Status [Line Items] | ||
Total non-accrual loans | $ 16,877 | $ 19,206 |
Loans And Allowance For Loan 42
Loans And Allowance For Loan Losses (Schedule Of Recorded Investment In Loan Receivables According To The Method Of Evaluation) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment, Individually Evaluated | $ 188,153 | $ 194,850 |
Recorded Investment, Collectively Evaluated | 12,035,466 | 11,575,749 |
Total | 12,223,619 | 11,770,599 |
Residential Core | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment, Individually Evaluated | 100,713 | 107,541 |
Recorded Investment, Collectively Evaluated | 10,459,432 | 9,972,073 |
Total | 10,560,145 | 10,079,614 |
Residential Home Today | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment, Individually Evaluated | 48,713 | 51,415 |
Recorded Investment, Collectively Evaluated | 64,656 | 69,020 |
Total | 113,369 | 120,435 |
Home Equity Loans And Lines Of Credit | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment, Individually Evaluated | 38,727 | 35,894 |
Recorded Investment, Collectively Evaluated | 1,479,922 | 1,506,696 |
Total | 1,518,649 | 1,542,590 |
Construction | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment, Individually Evaluated | 0 | 0 |
Recorded Investment, Collectively Evaluated | 28,444 | 24,844 |
Total | 28,444 | 24,844 |
Total Real Estate Loans | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment, Individually Evaluated | 188,153 | 194,850 |
Recorded Investment, Collectively Evaluated | 12,032,454 | 11,572,633 |
Total | 12,220,607 | 11,767,483 |
Other Consumer Loans | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment, Individually Evaluated | 0 | 0 |
Recorded Investment, Collectively Evaluated | 3,012 | 3,116 |
Total | $ 3,012 | $ 3,116 |
Loans And Allowance For Loan 43
Loans And Allowance For Loan Losses (Schedule Of Allowance For Loan Losses According To The Method Of Evaluation) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually Evaluated | $ 11,538 | $ 12,628 | ||||
Allowance for loan losses, Collectively Evaluated | 45,303 | 49,167 | ||||
Allowance for credit losses | 56,841 | 61,795 | ||||
Present Value of Cash Flows | Performing | Troubled Debt Restructuring | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually Evaluated | 11,460 | 12,432 | ||||
Residential Core | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually Evaluated | 7,767 | 8,927 | ||||
Allowance for loan losses, Collectively Evaluated | 5,169 | 6,141 | ||||
Allowance for credit losses | 12,936 | $ 14,807 | 15,068 | $ 18,610 | $ 20,468 | $ 22,596 |
Residential Home Today | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually Evaluated | 2,439 | 2,979 | ||||
Allowance for loan losses, Collectively Evaluated | 2,261 | 4,437 | ||||
Allowance for credit losses | 4,700 | 5,955 | 7,416 | 9,761 | 9,852 | 9,997 |
Home Equity Loans And Lines Of Credit | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually Evaluated | 1,332 | 722 | ||||
Allowance for loan losses, Collectively Evaluated | 37,870 | 38,582 | ||||
Allowance for credit losses | 39,202 | 39,680 | 39,304 | 39,925 | 38,907 | 38,926 |
Construction | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, Individually Evaluated | 0 | 0 | ||||
Allowance for loan losses, Collectively Evaluated | 3 | 7 | ||||
Allowance for credit losses | $ 3 | $ 5 | $ 7 | $ 11 | $ 14 | $ 35 |
Loans And Allowance For Loan 44
Loans And Allowance For Loan Losses (Loans with Private Mortgage Insurance Narrative) (Details) (Details) $ in Thousands | Mar. 31, 2017USD ($) | Mar. 31, 2017USD ($)loans | Sep. 30, 2016USD ($) |
Loan Portfolio [Line Items] | |||
Real estate loans | $ 12,229,604 | $ 12,229,604 | $ 11,784,254 |
Loans were covered by mortgage insurers that were deferring claim payments or which were 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 | 71.50% | ||
Real estate loans | $ 73,927 | $ 73,927 | 91,784 |
MGIC Provided Mortgage Insurance Coverage | |||
Loan Portfolio [Line Items] | |||
Real estate loans | 34,028 | 34,028 | 40,578 |
Performing | PMIC Provided Mortgage Insurance Coverage | |||
Loan Portfolio [Line Items] | |||
Real estate loans | 68,334 | 68,334 | 84,007 |
Performing | MGIC Provided Mortgage Insurance Coverage | |||
Loan Portfolio [Line Items] | |||
Real estate loans | $ 34,028 | $ 34,028 | $ 40,190 |
Residential Home Today | |||
Loan Portfolio [Line Items] | |||
Real Estate Loans Covered By Private Mortgage Insurance, Percentage | 23.00% | 23.00% | 27.00% |
Real estate loans | $ 114,721 | $ 114,721 | $ 121,938 |
Loans And Allowance For Loan 45
Loans And Allowance For Loan Losses (Schedule Of Recorded Investment And The Unpaid Principal Balance Of Impaired Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, with No Related IVA, Recorded Investment | $ 89,692 | $ 94,217 |
Impaired Loans, with No Related IVA, Unpaid Principal Balance | 139,836 | 147,823 |
Impaired Loans, with an IVA, Recorded Investment | 98,461 | 100,633 |
Impaired Loans, with an IVA, Unpaid Principal Balance | 99,416 | 101,799 |
Impaired Loans, Recorded Investment | 188,153 | 194,850 |
Impaired Loans, Unpaid Principal Balance | 239,252 | 249,622 |
Allowance for loan losses, Individually Evaluated | 11,538 | 12,628 |
Troubled Debt Restructuring | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment | 167,011 | 170,602 |
Performing | Pass | Troubled Debt Restructuring | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment | 99,407 | 101,227 |
Residential Core | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, with No Related IVA, Recorded Investment | 50,871 | 53,560 |
Impaired Loans, with No Related IVA, Unpaid Principal Balance | 69,253 | 72,693 |
Impaired Loans, with an IVA, Recorded Investment | 49,842 | 53,981 |
Impaired Loans, with an IVA, Unpaid Principal Balance | 50,432 | 54,717 |
Impaired Loans, Recorded Investment | 100,713 | 107,541 |
Impaired Loans, Unpaid Principal Balance | 119,685 | 127,410 |
Allowance for loan losses, Individually Evaluated | 7,767 | 8,927 |
Residential Home Today | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, with No Related IVA, Recorded Investment | 19,456 | 20,108 |
Impaired Loans, with No Related IVA, Unpaid Principal Balance | 42,692 | 44,914 |
Impaired Loans, with an IVA, Recorded Investment | 29,257 | 31,307 |
Impaired Loans, with an IVA, Unpaid Principal Balance | 29,612 | 31,725 |
Impaired Loans, Recorded Investment | 48,713 | 51,415 |
Impaired Loans, Unpaid Principal Balance | 72,304 | 76,639 |
Allowance for loan losses, Individually Evaluated | 2,439 | 2,979 |
Home Equity Loans And Lines Of Credit | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, with No Related IVA, Recorded Investment | 19,365 | 20,549 |
Impaired Loans, with No Related IVA, Unpaid Principal Balance | 27,891 | 30,216 |
Impaired Loans, with an IVA, Recorded Investment | 19,362 | 15,345 |
Impaired Loans, with an IVA, Unpaid Principal Balance | 19,372 | 15,357 |
Impaired Loans, Recorded Investment | 38,727 | 35,894 |
Impaired Loans, Unpaid Principal Balance | 47,263 | 45,573 |
Allowance for loan losses, Individually Evaluated | 1,332 | 722 |
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 | 0 |
Impaired Loans, with an IVA, Unpaid Principal Balance | 0 | 0 |
Impaired Loans, Recorded Investment | 0 | 0 |
Impaired Loans, Unpaid Principal Balance | 0 | 0 |
Allowance for loan losses, Individually Evaluated | 0 | 0 |
Mortgage Receivable | Nonperforming | Troubled Debt Restructuring | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment | $ 11,937 | $ 12,368 |
Loans And Allowance For Loan 46
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 | 6 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, with No Related IVA, Average Recorded Investment | $ 90,479 | $ 100,512 | $ 91,955 | $ 103,604 |
Impaired Loans, with No Related IVA, Interest Income Recognized | 555 | 415 | 1,040 | 998 |
Impaired Loans, with an IVA, Average Recorded Investment | 98,955 | 101,798 | 99,548 | 102,995 |
Impaired Loans, with an IVA, Interest Income Recognized | 949 | 1,074 | 2,314 | 2,173 |
Impaired Loans, Average Recorded Investment | 189,434 | 202,310 | 191,503 | 206,599 |
Impaired Loans, Interest Income Recognized | 1,504 | 1,489 | 3,354 | 3,171 |
Residential Core | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, with No Related IVA, Average Recorded Investment | 51,256 | 58,238 | 52,216 | 59,484 |
Impaired Loans, with No Related IVA, Interest Income Recognized | 431 | 277 | 742 | 646 |
Impaired Loans, with an IVA, Average Recorded Investment | 51,075 | 56,169 | 51,912 | 56,884 |
Impaired Loans, with an IVA, Interest Income Recognized | 468 | 568 | 978 | 1,158 |
Impaired Loans, Average Recorded Investment | 102,331 | 114,407 | 104,128 | 116,368 |
Impaired Loans, Interest Income Recognized | 899 | 845 | 1,720 | 1,804 |
Residential Home Today | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, with No Related IVA, Average Recorded Investment | 19,601 | 20,797 | 19,782 | 22,124 |
Impaired Loans, with No Related IVA, Interest Income Recognized | 42 | 65 | 149 | 215 |
Impaired Loans, with an IVA, Average Recorded Investment | 29,785 | 33,549 | 30,282 | 34,105 |
Impaired Loans, with an IVA, Interest Income Recognized | 361 | 423 | 738 | 855 |
Impaired Loans, Average Recorded Investment | 49,386 | 54,346 | 50,064 | 56,229 |
Impaired Loans, Interest Income Recognized | 403 | 488 | 887 | 1,070 |
Home Equity Loans And Lines Of Credit | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, with No Related IVA, Average Recorded Investment | 19,622 | 21,477 | 19,957 | 21,996 |
Impaired Loans, with No Related IVA, Interest Income Recognized | 82 | 73 | 149 | 137 |
Impaired Loans, with an IVA, Average Recorded Investment | 18,095 | 12,080 | 17,354 | 11,793 |
Impaired Loans, with an IVA, Interest Income Recognized | 120 | 83 | 598 | 160 |
Impaired Loans, Average Recorded Investment | 37,717 | 33,557 | 37,311 | 33,789 |
Impaired Loans, Interest Income Recognized | 202 | 156 | 747 | 297 |
Construction | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Loans, with No Related IVA, Average Recorded Investment | 0 | 0 | 0 | 0 |
Impaired Loans, with No Related IVA, Interest Income Recognized | 0 | 0 | 0 | 0 |
Impaired Loans, with an IVA, Average Recorded Investment | 0 | 0 | 0 | 213 |
Impaired Loans, with an IVA, Interest Income Recognized | 0 | 0 | 0 | 0 |
Impaired Loans, Average Recorded Investment | 0 | 0 | 0 | 213 |
Impaired Loans, Interest Income Recognized | $ 0 | $ 0 | $ 0 | $ 0 |
Loans And Allowance For Loan 47
Loans And Allowance For Loan Losses (Schedule Of Recorded Investment In Troubled Debt Restructured Loans By Type Of Concession) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | $ 167,011 | $ 170,602 |
Reduction In Interest Rates | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 18,734 | 19,914 |
Payment Extensions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 5,683 | 4,883 |
Forbearance or Other Actions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 13,494 | 14,194 |
Multiple Concessions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 45,486 | 43,325 |
Multiple Restructurings | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 42,539 | 43,180 |
Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 41,075 | 45,106 |
Residential Core | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 90,399 | 95,220 |
Residential Core | Reduction In Interest Rates | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 12,864 | 13,456 |
Residential Core | Payment Extensions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 723 | 748 |
Residential Core | Forbearance or Other Actions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 8,178 | 8,595 |
Residential Core | Multiple Concessions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 21,703 | 22,641 |
Residential Core | Multiple Restructurings | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 21,523 | 21,517 |
Residential Core | Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 25,408 | 28,263 |
Residential Home Today | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 46,243 | 48,604 |
Residential Home Today | Reduction In Interest Rates | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 5,756 | 6,338 |
Residential Home Today | Payment Extensions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 0 | 0 |
Residential Home Today | Forbearance or Other Actions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 4,958 | 5,198 |
Residential Home Today | Multiple Concessions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 10,950 | 11,330 |
Residential Home Today | Multiple Restructurings | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 19,812 | 20,497 |
Residential Home Today | Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 4,767 | 5,241 |
Home Equity Loans And Lines Of Credit | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 30,369 | 26,778 |
Home Equity Loans And Lines Of Credit | Reduction In Interest Rates | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 114 | 120 |
Home Equity Loans And Lines Of Credit | Payment Extensions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 4,960 | 4,135 |
Home Equity Loans And Lines Of Credit | Forbearance or Other Actions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 358 | 401 |
Home Equity Loans And Lines Of Credit | Multiple Concessions | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 12,833 | 9,354 |
Home Equity Loans And Lines Of Credit | Multiple Restructurings | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | 1,204 | 1,166 |
Home Equity Loans And Lines Of Credit | Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructuring, recorded investment | $ 10,900 | $ 11,602 |
Loans And Allowance For Loan 48
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 | 6 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | $ 6,190 | $ 7,350 | $ 12,700 | $ 15,072 |
Reduction In Interest Rates | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 533 | 662 | 602 | 832 |
Payment Extensions | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 773 | 185 | 1,000 | 407 |
Forbearance or Other Actions | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 463 | 409 | 733 | 1,331 |
Multiple Concessions | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 2,023 | 2,605 | 5,329 | 5,118 |
Multiple Restructurings | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 1,208 | 1,765 | 2,625 | 3,306 |
Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 1,190 | 1,724 | 2,411 | 4,078 |
Residential Core | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 1,669 | 4,082 | 3,910 | 8,564 |
Residential Core | Reduction In Interest Rates | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 521 | 491 | 521 | 602 |
Residential Core | Payment Extensions | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 0 | 0 | 0 | 0 |
Residential Core | Forbearance or Other Actions | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 274 | 172 | 475 | 1,066 |
Residential Core | Multiple Concessions | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 107 | 1,222 | 924 | 2,398 |
Residential Core | Multiple Restructurings | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 156 | 734 | 879 | 1,281 |
Residential Core | Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 611 | 1,463 | 1,111 | 3,217 |
Residential Home Today | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 1,361 | 1,428 | 2,432 | 2,852 |
Residential Home Today | Reduction In Interest Rates | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 12 | 171 | 81 | 171 |
Residential Home Today | Payment Extensions | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 0 | 0 | 0 | 0 |
Residential Home Today | Forbearance or Other Actions | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 189 | 209 | 258 | 229 |
Residential Home Today | Multiple Concessions | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 78 | 151 | 311 | 443 |
Residential Home Today | Multiple Restructurings | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 963 | 806 | 1,471 | 1,682 |
Residential Home Today | Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 119 | 91 | 311 | 327 |
Home Equity Loans And Lines Of Credit | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 3,160 | 1,840 | 6,358 | 3,656 |
Home Equity Loans And Lines Of Credit | Reduction In Interest Rates | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 0 | 0 | 0 | 59 |
Home Equity Loans And Lines Of Credit | Payment Extensions | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 773 | 185 | 1,000 | 407 |
Home Equity Loans And Lines Of Credit | Forbearance or Other Actions | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 0 | 28 | 0 | 36 |
Home Equity Loans And Lines Of Credit | Multiple Concessions | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 1,838 | 1,232 | 4,094 | 2,277 |
Home Equity Loans And Lines Of Credit | Multiple Restructurings | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | 89 | 225 | 275 | 343 |
Home Equity Loans And Lines Of Credit | Bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured loans restructured in the period | $ 460 | $ 170 | $ 989 | $ 534 |
Loans And Allowance For Loan 49
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 | 6 Months Ended | ||
Mar. 31, 2017USD ($)contracts | Mar. 31, 2016USD ($)contracts | Mar. 31, 2017USD ($)contracts | Mar. 31, 2016USD ($)contracts | |
Financing Receivable, Modifications Within The Last 12 Months Which Defaulted [Line Items] | ||||
Number of contracts | contracts | 46 | 47 | 55 | 62 |
Recorded investment | $ | $ 2,618 | $ 2,866 | $ 3,099 | $ 3,650 |
Residential Core | ||||
Financing Receivable, Modifications Within The Last 12 Months Which Defaulted [Line Items] | ||||
Number of contracts | contracts | 13 | 19 | 17 | 25 |
Recorded investment | $ | $ 1,031 | $ 1,841 | $ 1,472 | $ 2,401 |
Residential Home Today | ||||
Financing Receivable, Modifications Within The Last 12 Months Which Defaulted [Line Items] | ||||
Number of contracts | contracts | 20 | 15 | 20 | 17 |
Recorded investment | $ | $ 951 | $ 545 | $ 951 | $ 646 |
Home Equity Loans And Lines Of Credit | ||||
Financing Receivable, Modifications Within The Last 12 Months Which Defaulted [Line Items] | ||||
Number of contracts | contracts | 13 | 13 | 18 | 20 |
Recorded investment | $ | $ 636 | $ 480 | $ 676 | $ 603 |
Loans And Allowance For Loan 50
Loans And Allowance For Loan Losses (Schedule Of Credit Quality Of Residential Loan Receivables By An Internally Assigned Grade) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | $ 12,223,619 | $ 11,770,599 |
Residential Core | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 10,560,145 | 10,079,614 |
Residential Core | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 10,507,647 | 10,022,555 |
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 | 52,498 | 57,059 |
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 | 113,369 | 120,435 |
Residential Home Today | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 92,322 | 99,442 |
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 | 21,047 | 20,993 |
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 | 1,518,649 | 1,542,590 |
Home Equity Loans And Lines Of Credit | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 1,495,498 | 1,516,551 |
Home Equity Loans And Lines Of Credit | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 3,149 | 4,122 |
Home Equity Loans And Lines Of Credit | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 20,002 | 21,917 |
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 | 28,444 | 24,844 |
Construction | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 28,444 | 24,844 |
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 | 0 |
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 | 12,220,607 | 11,767,483 |
Total Real Estate Loans | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 12,123,911 | 11,663,392 |
Total Real Estate Loans | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 3,149 | 4,122 |
Total Real Estate Loans | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | 93,547 | 99,969 |
Total Real Estate Loans | Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Real estate loans | $ 0 | $ 0 |
Loans And Allowance For Loan 51
Loans And Allowance For Loan Losses (Loans Evaluated For Impairment Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans collectively evaluated for impairment | $ 12,035,466 | $ 11,575,749 |
Substandard | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans collectively evaluated for impairment | 4,801 | 6,346 |
Special Mention | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans collectively evaluated for impairment | $ 3,149 | $ 4,122 |
Loans And Allowance For Loan 52
Loans And Allowance For Loan Losses (Schedule Of Activity In The Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning Balance | $ 61,795 | |||
Ending Balance | $ 56,841 | 56,841 | ||
Residential Core | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning Balance | 14,807 | $ 20,468 | 15,068 | $ 22,596 |
Provisions | (3,292) | (2,022) | (3,062) | (3,786) |
Charge-offs | (727) | (1,266) | (1,899) | (2,548) |
Recoveries | 2,148 | 1,430 | 2,829 | 2,348 |
Ending Balance | 12,936 | 18,610 | 12,936 | 18,610 |
Residential Home Today | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning Balance | 5,955 | 9,852 | 7,416 | 9,997 |
Provisions | (1,176) | 200 | (2,126) | 463 |
Charge-offs | (396) | (612) | (1,198) | (1,438) |
Recoveries | 317 | 321 | 608 | 739 |
Ending Balance | 4,700 | 9,761 | 4,700 | 9,761 |
Home Equity Loans And Lines Of Credit | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning Balance | 39,680 | 38,907 | 39,304 | 38,926 |
Provisions | (1,530) | 825 | (808) | 1,347 |
Charge-offs | (1,108) | (1,747) | (3,157) | (3,851) |
Recoveries | 2,160 | 1,940 | 3,863 | 3,503 |
Ending Balance | 39,202 | 39,925 | 39,202 | 39,925 |
Construction | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning Balance | 5 | 14 | 7 | 35 |
Provisions | (2) | (3) | (4) | (24) |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Ending Balance | 3 | 11 | 3 | 11 |
Total Real Estate Loans | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning Balance | 60,447 | 69,241 | 61,795 | 71,554 |
Provisions | (6,000) | (1,000) | (6,000) | (2,000) |
Charge-offs | (2,231) | (3,625) | (6,254) | (7,837) |
Recoveries | 4,625 | 3,691 | 7,300 | 6,590 |
Ending Balance | $ 56,841 | $ 68,307 | $ 56,841 | $ 68,307 |
Deposits (Summary Of Deposit Ac
Deposits (Summary Of Deposit Account Balances) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Deposits [Abstract] | ||
Checking accounts | $ 1,025,688 | $ 995,372 |
Savings accounts | 1,540,607 | 1,514,428 |
Certificates of deposit | 5,619,911 | 5,819,642 |
Subtotal, Deposits | 8,186,206 | 8,329,442 |
Accrued interest | 1,799 | 1,926 |
Total deposits | $ 8,188,005 | $ 8,331,368 |
Deposits (Narrative) (Details)
Deposits (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Deposits [Abstract] | ||
Brokered certificates of deposit | $ 539,705 | $ 539,775 |
Other Comprehensive Income (L55
Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Reclassification out of Accumulated Other Comprehensive Income | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Income tax benefit | $ 464 | $ 235 | $ 863 | $ 376 |
Accumulated other comprehensive income (loss) | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Income tax | $ (234) | $ (1,430) | $ (3,571) | $ 1,373 |
Other Comprehensive Income (L56
Other Comprehensive Income (Loss) (Accumulated Other Comprehensive Income (Loss) by Component) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Balance | $ 1,660,458 | $ 1,729,370 | ||
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | $ 861 | $ 439 | 1,602 | 697 |
Other comprehensive income (loss) | 1,295 | 3,095 | 8,233 | (1,852) |
Balance | 1,678,390 | 1,690,407 | 1,678,390 | 1,690,407 |
Unrealized gain (losses) on securities available for sale | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Balance | (5,611) | (3,326) | 416 | 1,926 |
Other comprehensive loss before reclassifications, net of tax | 692 | 4,544 | (5,335) | (708) |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | 692 | 4,544 | (5,335) | (708) |
Balance | (4,919) | 1,218 | (4,919) | 1,218 |
Cash Flow Hedges | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Balance | 11,249 | 55 | (1,371) | 0 |
Other comprehensive loss before reclassifications, net of tax | (258) | (1,888) | 11,966 | (1,841) |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 515 | 188 | 911 | 196 |
Other comprehensive income (loss) | 257 | (1,700) | 12,877 | (1,645) |
Balance | 11,506 | (1,645) | 11,506 | (1,645) |
Defined Benefit Plan | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Balance | (18,326) | (14,741) | (18,671) | (14,991) |
Other comprehensive loss before reclassifications, net of tax | 0 | 0 | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 346 | 251 | 691 | 501 |
Other comprehensive income (loss) | 346 | 251 | 691 | 501 |
Balance | (17,980) | (14,490) | (17,980) | (14,490) |
Total | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Balance | (12,688) | (18,012) | (19,626) | (13,065) |
Other comprehensive loss before reclassifications, net of tax | 434 | 2,656 | 6,631 | (2,549) |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 861 | 439 | 1,602 | 697 |
Other comprehensive income (loss) | 1,295 | 3,095 | 8,233 | (1,852) |
Balance | $ (11,393) | $ (14,917) | $ (11,393) | $ (14,917) |
Other Comprehensive Income (L57
Other Comprehensive Income (Loss) (Reclassification out of Accumulated Other Comprehensive Income) [Details] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Income tax benefit | $ 12,083 | $ 9,845 | $ 20,809 | $ 19,119 |
Net of income tax benefit | (23,240) | (19,095) | (42,646) | (36,766) |
Reclassification net of tax | (861) | (439) | (1,602) | (697) |
Cash Flow Hedges | ||||
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Reclassification net of tax | (515) | (188) | (911) | (196) |
Actuarial Loss | ||||
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Actuarial loss | 532 | 385 | 1,063 | 771 |
Defined Benefit Plan | ||||
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Income tax benefit | (186) | (134) | (372) | (270) |
Reclassification net of tax | (346) | (251) | (691) | (501) |
Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Income tax benefit | (464) | (235) | (863) | (376) |
Reclassification out of Accumulated Other Comprehensive Income | Cash Flow Hedges | ||||
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Interest expense, effective portion | 793 | 289 | 1,402 | 302 |
Income tax benefit | (278) | (101) | (491) | (106) |
Net of income tax benefit | $ 515 | $ 188 | $ 911 | $ 196 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) | 6 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Income Tax Disclosure [Abstract] | ||
Effective Income Tax Rate | 32.60% | 34.00% |
Defined Benefit Plan (Narrative
Defined Benefit Plan (Narrative) (Details) $ in Thousands | 6 Months Ended |
Mar. 31, 2017USD ($) | |
Compensation and Retirement Disclosure [Abstract] | |
Defined Benefit Plan, Employer Required Minimum Contribution Amount | $ 0 |
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year | $ 0 |
Defined Benefit Plan (Component
Defined Benefit Plan (Components Of Net Periodic Benefit Cost Recognized) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | ||||
Interest cost | $ 767 | $ 822 | $ 1,534 | $ 1,644 |
Expected return on plan assets | (1,034) | (1,027) | (2,067) | (2,055) |
Amortization of net loss | 532 | 385 | 1,063 | 771 |
Net periodic cost | $ 265 | $ 180 | $ 530 | $ 360 |
Equity Incentive Plan (Narrativ
Equity Incentive Plan (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | Mar. 31, 2017 | Jan. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of options to purchase common stock granted | 7,200 | 293,200 | |||
Stock-based compensation expense | $ 2,005 | $ 3,500 | |||
Shares subject to options (in shares) | 4,523,802 | 4,523,802 | |||
Weighted average exercise price per share | $ 13.26 | $ 13.26 | |||
Weighted average grant date fair value (in dollars per share) | $ 2.97 | ||||
Non-vested options outstanding | 1,490,361 | 1,490,361 | |||
Expected future expense related to non-vested options outstanding | $ 2,293 | $ 2,293 | |||
Restricted Stock Units | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares approved restricted stock units | 3,600 | 69,300 | |||
Stock-based compensation expense | $ 1,200 | 2,045 | |||
Expected future expense related to non-vested options outstanding, weighted average years | 1 year 8 months 12 days | ||||
Restricted stock units, non-vested | 665,545 | 665,545 | |||
Restricted stock units, non-vested, weighted average grant date fair value (in dollars per share) | $ 14.10 | $ 14.10 | |||
Restricted stock units outstanding | 1,186,538 | 1,186,538 | |||
Expected future compensation expense related to restricted stock units outstanding | $ 2,578 | $ 2,578 | |||
Employee Stock Option | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Stock-based compensation expense | $ 805 | $ 1,455 | |||
Expected future expense related to non-vested options outstanding, weighted average years | 2 years 3 months 18 days |
Commitments And Contingent Li62
Commitments And Contingent Liabilities (Narrative) (Details) $ in Thousands | 6 Months Ended |
Mar. 31, 2017USD ($) | |
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) | $ 1,450,733 |
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 (Schedule of Off Balance Sheet Risks) (Details) $ in Thousands | Mar. 31, 2017USD ($) |
Commitments To Originate | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | $ 604,721 |
Commitments To Originate Fixed-Rate Mortgage Loans | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | 214,011 |
Commitments To Originate Adjustable-Rate Mortgage Loans | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | 299,847 |
Commitments To Originate Equity Loans and Lines of Credit Including Bridge Loans | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | 90,863 |
Unfunded Commitments | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | 1,398,114 |
Unfunded Commitments Equity Lines of Credit | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | 1,351,487 |
Unfunded Commitments Construction Loans | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | 35,086 |
Unfunded Commitments Private Equity Investments | |
Commitments And Contingencies Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Total | $ 11,541 |
Fair Value (Narrative) (Details
Fair Value (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale at fair value | $ 4,299 | $ 0 |
Available-for-sale Securities | 536,178 | 517,866 |
Performing troubled debt restructurings individually evaluated for impairment | 188,153 | 194,850 |
Allowance on performing troubled debt restructurings individually evaluated for impairment based on the present value of cash flows | 11,538 | 12,628 |
Real estate owned | 5,617 | 6,803 |
Real Estate Acquired Through Foreclosure, Cost To Sell | 413 | 521 |
Market Approach Valuation Technique | Subject To Pending Agency Contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale at fair value | 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 | 11,460 | 12,432 |
Portion at Other than Fair Value | Carried At Cost | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale at fair value | 4,686 | |
Portion at Other than Fair Value | Original Or Adjusted Cost Basis | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Real estate owned | 2,698 | 3,132 |
Portion at Other than Fair Value | Troubled Debt Restructuring | Present Value of Cash Flows | Performing | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Performing troubled debt restructurings individually evaluated for impairment | 101,336 | 102,079 |
Allowance on performing troubled debt restructurings individually evaluated for impairment based on the present value of cash flows | 11,460 | 12,432 |
Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale at fair value | 4,299 | 4,839 |
Available-for-sale Securities | 536,178 | 517,866 |
Fair Value, Inputs, Level 2 | Market Approach Valuation Technique | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale at fair value | 4,299 | |
Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale at fair value | 0 | 0 |
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | US Government Agencies Debt Securities | Market Approach Valuation Technique | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 536,178 | 517,866 |
Fair Value, Measurements, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale at fair value | 4,299 | |
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale at fair value | 4,299 | |
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale at fair value | 0 | |
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3 | Market Approach Valuation Technique | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Real estate owned | $ 3,332 | $ 4,192 |
Fair Value (Fair Value Of Asset
Fair Value (Fair Value Of Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Assets: | ||
Available-for-sale Securities | $ 536,178 | $ 517,866 |
REMIC's | ||
Assets: | ||
Available-for-sale Securities | 526,954 | 507,997 |
Fannie Mae Certificates | ||
Assets: | ||
Available-for-sale Securities | 9,224 | 9,869 |
Quoted Prices In Active Markets For Identical Assets (Level 1) | ||
Assets: | ||
Available-for-sale Securities | 0 | 0 |
Derivative | 0 | 0 |
Liabilities: | ||
Derivative | 0 | 0 |
Significant Other Observable Inputs (Level 2) | ||
Assets: | ||
Available-for-sale Securities | 536,178 | 517,866 |
Derivative | 18,361 | 772 |
Liabilities: | ||
Derivative | 659 | 2,880 |
Significant Unobservable Inputs (Level 3) | ||
Assets: | ||
Available-for-sale Securities | 0 | 0 |
Derivative | 42 | 99 |
Liabilities: | ||
Derivative | 0 | 0 |
Fair Value, Measurements, Recurring | ||
Assets: | ||
Total | 554,581 | 518,737 |
Liabilities: | ||
Total | 659 | 2,880 |
Fair Value, Measurements, Recurring | Interest Rate Swap | ||
Liabilities: | ||
Derivative | 659 | 2,880 |
Fair Value, Measurements, Recurring | Interest Rate Lock Commitments | ||
Assets: | ||
Derivative | 42 | 99 |
Fair Value, Measurements, Recurring | Interest Rate Swap | ||
Assets: | ||
Derivative | 18,361 | 772 |
Fair Value, Measurements, Recurring | REMIC's | ||
Assets: | ||
Available-for-sale Securities | 526,954 | 507,997 |
Fair Value, Measurements, Recurring | Fannie Mae Certificates | ||
Assets: | ||
Available-for-sale Securities | 9,224 | 9,869 |
Fair Value, Measurements, Recurring | Quoted Prices In Active Markets For Identical Assets (Level 1) | ||
Assets: | ||
Total | 0 | 0 |
Liabilities: | ||
Total | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices In Active Markets For Identical Assets (Level 1) | Interest Rate Swap | ||
Liabilities: | ||
Derivative | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices In Active Markets For Identical Assets (Level 1) | Interest Rate Lock Commitments | ||
Assets: | ||
Derivative | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices In Active Markets For Identical Assets (Level 1) | Interest Rate Swap | ||
Assets: | ||
Derivative | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices In Active Markets For Identical Assets (Level 1) | REMIC's | ||
Assets: | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices In Active Markets For Identical Assets (Level 1) | Fannie Mae Certificates | ||
Assets: | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ||
Assets: | ||
Total | 554,539 | 518,638 |
Liabilities: | ||
Total | 659 | 2,880 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Interest Rate Swap | ||
Liabilities: | ||
Derivative | 659 | 2,880 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Interest Rate Lock Commitments | ||
Assets: | ||
Derivative | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Interest Rate Swap | ||
Assets: | ||
Derivative | 18,361 | 772 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | REMIC's | ||
Assets: | ||
Available-for-sale Securities | 526,954 | 507,997 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Fannie Mae Certificates | ||
Assets: | ||
Available-for-sale Securities | 9,224 | 9,869 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ||
Assets: | ||
Total | 42 | 99 |
Liabilities: | ||
Total | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Interest Rate Swap | ||
Liabilities: | ||
Derivative | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Interest Rate Lock Commitments | ||
Assets: | ||
Derivative | 42 | 99 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Interest Rate Swap | ||
Assets: | ||
Derivative | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | REMIC's | ||
Assets: | ||
Available-for-sale Securities | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Fannie Mae Certificates | ||
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 | 6 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ 47 | $ 84 | $ 99 | $ 79 |
Gain (loss) during the period due to changes in fair value: | ||||
Ending balance | 42 | 104 | 42 | 104 |
Change in unrealized gains for the period included in earnings for assets held at the end of the reporting date | 42 | 104 | 42 | 104 |
Other Income | ||||
Gain (loss) during the period due to changes in fair value: | ||||
Included in other non-interest income | $ (5) | $ 20 | $ (57) | $ 25 |
Fair Value (Assets Measured At
Fair Value (Assets Measured At Fair Value On A Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Mortgage loans held for sale | $ 4,299 | $ 0 | |
Quoted Prices In Active Markets For Identical Assets (Level 1) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Mortgage loans held for sale | 0 | 0 | |
Significant Other Observable Inputs (Level 2) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Mortgage loans held for sale | 4,299 | 4,839 | |
Significant Unobservable Inputs (Level 3) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Mortgage loans held for sale | 0 | 0 | |
Fair Value, Measurements, Nonrecurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Mortgage loans held for sale | 4,299 | ||
Real Estate Owned | [1] | 3,332 | 4,192 |
Total | 94,369 | 96,768 | |
Fair Value, Measurements, Nonrecurring | Impaired Loans, Net of Allowance | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans, net of allowance | 86,738 | 92,576 | |
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] | |||
Mortgage loans held for sale | 0 | ||
Real Estate Owned | [1] | 0 | 0 |
Total | 0 | 0 | |
Fair Value, Measurements, Nonrecurring | Quoted Prices In Active Markets For Identical Assets (Level 1) | Impaired Loans, Net of Allowance | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans, net of allowance | 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] | |||
Mortgage loans held for sale | 4,299 | ||
Real Estate Owned | [1] | 0 | 0 |
Total | 4,299 | 0 | |
Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2) | Impaired Loans, Net of Allowance | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans, net of allowance | 0 | 0 | |
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Mortgage loans held for sale | 0 | ||
Real Estate Owned | [1] | 3,332 | 4,192 |
Total | 90,070 | 96,768 | |
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3) | Impaired Loans, Net of Allowance | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans, net of allowance | $ 86,738 | $ 92,576 | |
[1] | (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 | Mar. 31, 2017 | Sep. 30, 2016 |
Present Value of Cash Flows | Impaired Loans, Net of Allowance | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, fair value | $ 86,738 | $ 92,576 |
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 | 26.00% | 26.00% |
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 | 7.90% | 8.20% |
Secondary Market Pricing | Interest Rate Lock Commitments | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, fair value | $ 42 | $ 99 |
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 | 90.60% | 93.00% |
Fair Value (Estimated Fair Valu
Fair Value (Estimated Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Assets: | ||
Available-for-sale Securities | $ 536,178 | $ 517,866 |
Mortgage loans held for sale | 4,299 | 0 |
Fair Value, Inputs, Level 1 | ||
Assets: | ||
Available-for-sale Securities | 0 | 0 |
Mortgage loans held for sale | 0 | 0 |
Loans, net: | ||
Cash collateral held by counterparty | 10,480 | |
Derivative assets | 0 | 0 |
Liabilities: | ||
Borrowed funds | 0 | 0 |
Cash collateral received from counterparty | 7,364 | |
Derivative liability | 0 | 0 |
Fair Value, Inputs, Level 1 | Checking and Passbook Accounts | ||
Liabilities: | ||
Deposits | 0 | 0 |
Fair Value, Inputs, Level 1 | Certificates of Deposit | ||
Liabilities: | ||
Deposits | 0 | 0 |
Fair Value, Inputs, Level 1 | Advance Payments by Borrowers for Taxes And Insurance | ||
Liabilities: | ||
Other Liabilities | 0 | 0 |
Fair Value, Inputs, Level 1 | Principal, Interest, And Related Escrow Owed On Loans Serviced | ||
Liabilities: | ||
Other Liabilities | 0 | 0 |
Fair Value, Inputs, Level 1 | Cash and Due From Banks | ||
Assets: | ||
Cash and Cash Equivalents | 29,025 | 27,914 |
Fair Value, Inputs, Level 1 | Interest Earning Cash Equivalents | ||
Assets: | ||
Cash and Cash Equivalents | 211,739 | 203,325 |
Fair Value, Inputs, Level 1 | Mortgage Receivable | ||
Loans, net: | ||
Loans, net | 0 | 0 |
Fair Value, Inputs, Level 1 | Other Consumer Loans | ||
Loans, net: | ||
Loans, net | 0 | 0 |
Fair Value, Inputs, Level 1 | Accrued Interest Receivable | ||
Loans, net: | ||
Accrued interest receivable | 0 | 0 |
Fair Value, Inputs, Level 2 | ||
Assets: | ||
Available-for-sale Securities | 536,178 | 517,866 |
Mortgage loans held for sale | 4,299 | 4,839 |
Loans, net: | ||
Federal Home Loan Bank stock | 0 | 0 |
Cash collateral held by counterparty | 0 | |
Derivative assets | 18,361 | 772 |
Liabilities: | ||
Borrowed funds | 3,375,374 | 2,740,565 |
Cash collateral received from counterparty | 0 | |
Derivative liability | 659 | 2,880 |
Fair Value, Inputs, Level 2 | Checking and Passbook Accounts | ||
Liabilities: | ||
Deposits | 2,566,295 | 2,509,800 |
Fair Value, Inputs, Level 2 | Certificates of Deposit | ||
Liabilities: | ||
Deposits | 5,449,760 | 5,832,958 |
Fair Value, Inputs, Level 2 | Advance Payments by Borrowers for Taxes And Insurance | ||
Liabilities: | ||
Other Liabilities | 84,732 | 92,313 |
Fair Value, Inputs, Level 2 | Principal, Interest, And Related Escrow Owed On Loans Serviced | ||
Liabilities: | ||
Other Liabilities | 36,559 | 49,401 |
Fair Value, Inputs, Level 2 | Cash and Due From Banks | ||
Assets: | ||
Cash and Cash Equivalents | 0 | 0 |
Fair Value, Inputs, Level 2 | Interest Earning Cash Equivalents | ||
Assets: | ||
Cash and Cash Equivalents | 0 | 0 |
Fair Value, Inputs, Level 2 | Mortgage Receivable | ||
Loans, net: | ||
Loans, net | 0 | 0 |
Fair Value, Inputs, Level 2 | Other Consumer Loans | ||
Loans, net: | ||
Loans, net | 0 | 0 |
Fair Value, Inputs, Level 2 | Accrued Interest Receivable | ||
Loans, net: | ||
Accrued interest receivable | 33,771 | 32,818 |
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 |
Cash collateral held by counterparty | 0 | |
Derivative assets | 42 | 99 |
Liabilities: | ||
Borrowed funds | 0 | 0 |
Cash collateral received from counterparty | 0 | |
Derivative liability | 0 | 0 |
Fair Value, Inputs, Level 3 | Checking and Passbook Accounts | ||
Liabilities: | ||
Deposits | 0 | 0 |
Fair Value, Inputs, Level 3 | Certificates of Deposit | ||
Liabilities: | ||
Deposits | 0 | 0 |
Fair Value, Inputs, Level 3 | Advance Payments by Borrowers for Taxes And Insurance | ||
Liabilities: | ||
Other Liabilities | 0 | 0 |
Fair Value, Inputs, Level 3 | Principal, Interest, And Related Escrow Owed On Loans Serviced | ||
Liabilities: | ||
Other Liabilities | 0 | 0 |
Fair Value, Inputs, Level 3 | Cash and Due From Banks | ||
Assets: | ||
Cash and Cash Equivalents | 0 | 0 |
Fair Value, Inputs, Level 3 | Interest Earning Cash Equivalents | ||
Assets: | ||
Cash and Cash Equivalents | 0 | 0 |
Fair Value, Inputs, Level 3 | Mortgage Receivable | ||
Loans, net: | ||
Loans, net | 12,477,970 | 12,177,536 |
Fair Value, Inputs, Level 3 | Other Consumer Loans | ||
Loans, net: | ||
Loans, net | 3,103 | 3,277 |
Fair Value, Inputs, Level 3 | Accrued Interest Receivable | ||
Loans, net: | ||
Accrued interest receivable | 0 | 0 |
Carrying Amount | ||
Assets: | ||
Available-for-sale Securities | 536,178 | 517,866 |
Mortgage loans held for sale | 4,299 | 4,686 |
Loans, net: | ||
Federal Home Loan Bank stock | 82,877 | 69,853 |
Cash collateral held by counterparty | 10,480 | |
Derivative assets | 18,403 | 871 |
Liabilities: | ||
Borrowed funds | 3,366,189 | 2,718,795 |
Cash collateral received from counterparty | 7,364 | |
Derivative liability | 659 | 2,880 |
Carrying Amount | Checking and Passbook Accounts | ||
Liabilities: | ||
Deposits | 2,566,295 | 2,509,800 |
Carrying Amount | Certificates of Deposit | ||
Liabilities: | ||
Deposits | 5,621,710 | 5,821,568 |
Carrying Amount | Advance Payments by Borrowers for Taxes And Insurance | ||
Liabilities: | ||
Other Liabilities | 84,732 | 92,313 |
Carrying Amount | Principal, Interest, And Related Escrow Owed On Loans Serviced | ||
Liabilities: | ||
Other Liabilities | 36,559 | 49,401 |
Carrying Amount | Cash and Due From Banks | ||
Assets: | ||
Cash and Cash Equivalents | 29,025 | 27,914 |
Carrying Amount | Interest Earning Cash Equivalents | ||
Assets: | ||
Cash and Cash Equivalents | 211,739 | 203,325 |
Carrying Amount | Mortgage Receivable | ||
Loans, net: | ||
Loans, net | 12,163,766 | 11,705,688 |
Carrying Amount | Other Consumer Loans | ||
Loans, net: | ||
Loans, net | 3,012 | 3,116 |
Carrying Amount | Accrued Interest Receivable | ||
Loans, net: | ||
Accrued interest receivable | 33,771 | 32,818 |
Estimated Fair Value | ||
Assets: | ||
Available-for-sale Securities | 536,178 | 517,866 |
Mortgage loans held for sale | 4,299 | 4,839 |
Loans, net: | ||
Federal Home Loan Bank stock | 82,877 | 69,853 |
Cash collateral held by counterparty | 10,480 | |
Derivative assets | 18,403 | 871 |
Liabilities: | ||
Borrowed funds | 3,375,374 | 2,740,565 |
Cash collateral received from counterparty | 7,364 | |
Derivative liability | 659 | 2,880 |
Estimated Fair Value | Checking and Passbook Accounts | ||
Liabilities: | ||
Deposits | 2,566,295 | 2,509,800 |
Estimated Fair Value | Certificates of Deposit | ||
Liabilities: | ||
Deposits | 5,449,760 | 5,832,958 |
Estimated Fair Value | Advance Payments by Borrowers for Taxes And Insurance | ||
Liabilities: | ||
Other Liabilities | 84,732 | 92,313 |
Estimated Fair Value | Principal, Interest, And Related Escrow Owed On Loans Serviced | ||
Liabilities: | ||
Other Liabilities | 36,559 | 49,401 |
Estimated Fair Value | Cash and Due From Banks | ||
Assets: | ||
Cash and Cash Equivalents | 29,025 | 27,914 |
Estimated Fair Value | Interest Earning Cash Equivalents | ||
Assets: | ||
Cash and Cash Equivalents | 211,739 | 203,325 |
Estimated Fair Value | Mortgage Receivable | ||
Loans, net: | ||
Loans, net | 12,477,970 | 12,177,536 |
Estimated Fair Value | Other Consumer Loans | ||
Loans, net: | ||
Loans, net | 3,103 | 3,277 |
Estimated Fair Value | Accrued Interest Receivable | ||
Loans, net: | ||
Accrued interest receivable | $ 33,771 | $ 32,818 |
Derivative Instruments (Schedul
Derivative Instruments (Schedule of Interest Rate Derivatives) (Details) - Designated as Hedging Instrument - Cash Flow Hedging - Interest Rate Swap - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Derivative [Line Items] | ||
Notional Value | $ 975,000 | $ 600,000 |
Fair value | $ 17,702 | $ (2,108) |
Weighted-Average Rate Receive | 1.08% | 0.79% |
Weighted-Average Rate Pay | 1.49% | 1.21% |
Average Maturity (in years) | 4 years 4 months 6 days | 4 years 6 months 15 days |
Derivative Instruments (Narrati
Derivative Instruments (Narrative) (Details) $ in Thousands | Mar. 31, 2017USD ($)contracts | Sep. 30, 2016USD ($)contracts |
Derivative [Line Items] | ||
Estimated amount to be reclassed in the next 12 months as an increase to expense | $ 1,091 | |
Balance of collateral held as cash by the Company for derivative liabilities | $ (7,364) | |
Balance of collateral posted by the Company for derivative liabilities | $ 10,480 | |
Forward Commitments For The Sale Of Mortgage Loans | Not Designated as Hedging Instrument | ||
Derivative [Line Items] | ||
Derivative, number of instruments held | contracts | 0 | 0 |
Derivative Instruments (Sched72
Derivative Instruments (Schedule Of Derivative Instruments In Statement Of Financial Position, Fair Value) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Sep. 30, 2016 |
Other Assets | Designated as Hedging Instrument | Interest Rate Swap | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | $ 18,361 | $ 772 |
Other Assets | Not Designated as Hedging Instrument | Interest Rate Lock Commitments | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 42 | 99 |
Other Liabilities | Designated as Hedging Instrument | Interest Rate Swap | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liability | $ 659 | $ 2,880 |
Derivative Instruments (Sched73
Derivative Instruments (Schedule Of Effect Of Derivative Instruments, Gain (Loss) In Statement Of Financial Performance) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Designated as Hedging Instrument | Cash Flow Hedge | Interest Expense | ||||
Derivatives, Fair Value [Line Items] | ||||
Amount of loss reclassified from AOCI | $ (793) | $ (289) | $ (1,402) | $ (302) |
Designated as Hedging Instrument | Cash Flow Hedge | Other Non-Interest Income | ||||
Derivatives, Fair Value [Line Items] | ||||
Amount of ineffectiveness recognized | 0 | 0 | 0 | 0 |
Designated as Hedging Instrument | Cash Flow Hedge | Other Comprehensive Income (Loss) | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | (397) | (2,905) | 18,409 | (2,833) |
Not Designated as Hedging Instrument | Interest Rate Lock Commitments | Other Income | ||||
Derivatives, Fair Value [Line Items] | ||||
Total | $ (5) | $ 20 | $ (57) | $ 25 |