Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Mar. 31, 2019 | May 03, 2019 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | Capitol Federal Financial, Inc. | |
Trading Symbol | CFFN | |
Entity Central Index Key | 0001490906 | |
Current Fiscal Year End Date | --09-30 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 141,371,539 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
ASSETS: | ||
Cash and cash equivalents (includes interest-earning deposits of $199,476 and $122,733) | $ 218,051 | $ 139,055 |
Securities: | ||
Available-for-sale (AFS), at estimated fair value (amortized cost of $741,975 and $718,564) | 746,728 | 714,614 |
Held-to-maturity (HTM), at amortized cost (estimated fair value of $526,099 and $601,071) | 527,460 | 612,318 |
Loans receivable, net (allowance for credit losses (ACL) of $8,619 and $8,463) | 7,570,806 | 7,514,485 |
Federal Home Loan Bank Topeka (FHLB) stock, at cost | 102,631 | 99,726 |
Premises and equipment, net | 96,492 | 96,005 |
Income taxes receivable, net | 0 | 2,177 |
Other assets | 272,383 | 271,167 |
TOTAL ASSETS | 9,534,551 | 9,449,547 |
LIABILITIES: | ||
Deposits | 5,701,111 | 5,603,354 |
FHLB borrowings | 2,239,985 | 2,174,981 |
Other borrowings | 100,000 | 110,052 |
Advance payments by borrowers for taxes and insurance | 48,301 | 65,264 |
Income taxes payable, net | 115 | 0 |
Deferred income tax liabilities, net | 17,375 | 21,253 |
Accounts payable and accrued expenses | 71,681 | 83,021 |
Total liabilities | 8,178,568 | 8,057,925 |
STOCKHOLDERS' EQUITY: | ||
Preferred stock, $.01 par value; 100,000,000 shares authorized, no shares issued or outstanding | 0 | 0 |
Common stock, $.01 par value; 1,400,000,000 shares authorized, 141,279,239 and 141,225,516 shares issued and outstanding as of March 31, 2019 and September 30, 2018, respectively | 1,413 | 1,412 |
Additional paid-in capital | 1,208,665 | 1,207,644 |
Unearned compensation, Employee Stock Ownership Plan (ESOP) | (35,517) | (36,343) |
Retained earnings | 186,838 | 214,569 |
Accumulated other comprehensive (loss) income (AOCI), net of tax | (5,416) | 4,340 |
Total stockholders' equity | 1,355,983 | 1,391,622 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 9,534,551 | $ 9,449,547 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Statement of Financial Position [Abstract] | ||
Interest-earning deposits | $ 199,476 | $ 122,733 |
Available-for-sale securities, amortized cost | 741,975 | 718,564 |
Held-to-maturity securities, estimated fair value | 526,099 | 601,071 |
Loans receivable, allowance for credit losses | $ 8,619 | $ 8,463 |
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 | 1,400,000,000 | 1,400,000,000 |
Common stock, shares issued | 141,279,239 | 141,225,516 |
Common stock, shares outstanding | 141,279,239 | 141,225,516 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
INTEREST AND DIVIDEND INCOME: | ||||
Loans receivable | $ 71,657 | $ 64,194 | $ 142,429 | $ 128,383 |
Mortgage-backed securities (MBS) | 6,301 | 5,390 | 12,824 | 10,642 |
FHLB stock | 1,831 | 3,201 | 3,802 | 6,296 |
Investment securities | 1,505 | 1,094 | 2,946 | 2,088 |
Cash and cash equivalents | 743 | 7,895 | 2,457 | 15,009 |
Total interest and dividend income | 82,037 | 81,774 | 164,458 | 162,418 |
INTEREST EXPENSE: | ||||
Deposits | 16,096 | 12,480 | 31,821 | 24,441 |
FHLB borrowings | 12,525 | 18,772 | 26,055 | 36,689 |
Other borrowings | 819 | 633 | 1,684 | 2,025 |
Total interest expense | 29,440 | 31,885 | 59,560 | 63,155 |
NET INTEREST INCOME | 52,597 | 49,889 | 104,898 | 99,263 |
PROVISION FOR CREDIT LOSSES | 0 | 0 | 0 | 0 |
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 52,597 | 49,889 | 104,898 | 99,263 |
NON-INTEREST INCOME: | ||||
Deposit service fees | 8,100 | |||
Income from bank-owned life insurance (BOLI) | 587 | 276 | 1,222 | 810 |
Other non-interest income | 1,323 | 1,487 | 2,760 | 2,346 |
Total non-interest income | 5,001 | 5,433 | 10,425 | 10,791 |
NON-INTEREST EXPENSE: | ||||
Salaries and employee benefits | 12,789 | 11,167 | 25,751 | 21,695 |
Information technology and related expense | 4,284 | 3,622 | 8,883 | 6,953 |
Occupancy, net | 3,292 | 2,839 | 6,544 | 5,604 |
Regulatory and outside services | 1,056 | 1,151 | 2,822 | 2,291 |
Advertising and promotional | 1,390 | 1,337 | 2,150 | 2,022 |
Deposit and loan transaction costs | 465 | 1,313 | 1,201 | 2,720 |
Office supplies and related expense | 736 | 442 | 1,195 | 884 |
Federal insurance premium | 659 | 847 | 1,187 | 1,699 |
Other non-interest expense | 1,470 | 880 | 3,190 | 1,766 |
Total non-interest expense | 26,141 | 23,598 | 52,923 | 45,634 |
INCOME BEFORE INCOME TAX EXPENSE | 31,457 | 31,724 | 62,400 | 64,420 |
INCOME TAX EXPENSE | 6,903 | 8,394 | 13,463 | 9,254 |
NET INCOME | $ 24,554 | $ 23,330 | $ 48,937 | $ 55,166 |
Basic earnings per share (EPS) | $ 0.18 | $ 0.17 | $ 0.36 | $ 0.41 |
Diluted EPS | $ 0.18 | $ 0.17 | $ 0.36 | $ 0.41 |
Basic weighted average common shares | 137,634,820 | 134,428,227 | 137,592,409 | 134,400,300 |
Diluted weighted average common shares | 137,690,717 | 134,475,228 | 137,641,126 | 134,471,259 |
Deposit Account [Member] | ||||
NON-INTEREST INCOME: | ||||
Deposit service fees | $ 3,091 | $ 3,670 | $ 6,443 | $ 7,635 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 24,554 | $ 23,330 | $ 48,937 | $ 55,166 |
Other comprehensive income (loss), net of tax: | ||||
Changes in unrealized gains (losses) on AFS securities, net of taxes of $(982), $610, $(2,115) and $1,319 | 3,061 | (1,898) | 6,588 | (3,064) |
Changes in unrealized gains (losses) on cash flow hedges, net of taxes of $2,118, $(1,063), $5,246 and $(1,867) | (6,600) | 3,316 | (16,344) | 4,638 |
Comprehensive income | $ 21,015 | $ 24,748 | $ 39,181 | $ 56,740 |
Consolidated Statements Of Co_2
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Changes in unrealized gains (losses) on AFS securities, deferred income taxes | $ 982 | $ (610) | $ 2,115 | $ (1,319) |
Changes in unrealized gains (losses) on cash flow hedges, deferred income taxes | $ (2,118) | $ 1,063 | $ (5,246) | $ 1,867 |
Consolidated Statements Of Stoc
Consolidated Statements Of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Unearned Compensation ESOP [Member] | Retained Earnings [Member] | AOCI [Member] |
Balance at Sep. 30, 2017 | $ 1,368,313 | $ 1,382 | $ 1,167,368 | $ (37,995) | $ 234,640 | $ 2,918 |
Net income | 31,836 | 31,836 | ||||
Other comprehensive income (loss), net of tax | 156 | 156 | ||||
Cumulative effect of adopting Accounting Standards Update | 0 | 19 | (19) | |||
ESOP activity | 578 | 165 | 413 | |||
Stock-based compensation | 94 | 94 | ||||
Stock options exercised | 46 | 0 | 46 | |||
Cash dividends to stockholders | (50,412) | (50,412) | ||||
Balance at Dec. 31, 2017 | 1,350,611 | 1,382 | 1,167,692 | (37,582) | 216,045 | 3,074 |
Balance at Sep. 30, 2017 | 1,368,313 | 1,382 | 1,167,368 | (37,995) | 234,640 | 2,918 |
Net income | 55,166 | |||||
Other comprehensive income (loss), net of tax | 1,574 | |||||
Reclassification of certain tax effects related to adopting ASU 2018-02 | 667 | |||||
Balance at Mar. 31, 2018 | 1,364,740 | 1,382 | 1,168,087 | (37,169) | 227,281 | 5,159 |
Balance at Dec. 31, 2017 | 1,350,611 | 1,382 | 1,167,692 | (37,582) | 216,045 | 3,074 |
Net income | 23,330 | 23,330 | ||||
Other comprehensive income (loss), net of tax | 1,418 | 1,418 | ||||
Reclassification of certain tax effects related to adopting ASU 2018-02 | 0 | (667) | 667 | |||
ESOP activity | 536 | 123 | 413 | |||
Stock-based compensation | 93 | 93 | ||||
Stock options exercised | 179 | 179 | ||||
Cash dividends to stockholders | (11,427) | 0 | (11,427) | |||
Balance at Mar. 31, 2018 | 1,364,740 | 1,382 | 1,168,087 | (37,169) | 227,281 | 5,159 |
Balance at Sep. 30, 2018 | 1,391,622 | 1,412 | 1,207,644 | (36,343) | 214,569 | 4,340 |
Net income | 24,383 | 24,383 | ||||
Other comprehensive income (loss), net of tax | (6,217) | (6,217) | ||||
Cumulative effect of adopting Accounting Standards Update | 394 | 394 | ||||
ESOP activity | 531 | 118 | 413 | |||
Stock-based compensation | 95 | 95 | ||||
Stock options exercised | 467 | 1 | 466 | |||
Cash dividends to stockholders | (65,362) | (65,362) | ||||
Balance at Dec. 31, 2018 | 1,345,913 | 1,413 | 1,208,323 | (35,930) | 173,984 | (1,877) |
Balance at Sep. 30, 2018 | 1,391,622 | 1,412 | 1,207,644 | (36,343) | 214,569 | 4,340 |
Net income | 48,937 | |||||
Other comprehensive income (loss), net of tax | (9,756) | |||||
Cumulative effect of adopting Accounting Standards Update | 394 | |||||
Balance at Mar. 31, 2019 | 1,355,983 | 1,413 | 1,208,665 | (35,517) | 186,838 | (5,416) |
Balance at Dec. 31, 2018 | 1,345,913 | 1,413 | 1,208,323 | (35,930) | 173,984 | (1,877) |
Net income | 24,554 | 24,554 | ||||
Other comprehensive income (loss), net of tax | (3,539) | (3,539) | ||||
ESOP activity | 547 | 134 | 413 | |||
Stock-based compensation | 90 | 90 | ||||
Stock options exercised | 118 | 0 | 118 | |||
Cash dividends to stockholders | (11,700) | (11,700) | ||||
Balance at Mar. 31, 2019 | $ 1,355,983 | $ 1,413 | $ 1,208,665 | $ (35,517) | $ 186,838 | $ (5,416) |
Consolidated Statements Of St_2
Consolidated Statements Of Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |||
Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Statement of Stockholders' Equity [Abstract] | ||||
Cash dividends to stockholders | $ 0.085 | $ 0.475 | $ 0.085 | $ 0.375 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 48,937 | $ 55,166 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
FHLB stock dividends | (3,802) | (6,296) |
Originations of loans receivable held-for-sale (LHFS) | 0 | (390) |
Proceeds from sales of LHFS | 0 | 16,035 |
Amortization and accretion of premiums and discounts on securities | 737 | 1,733 |
Depreciation and amortization of premises and equipment | 4,710 | 4,180 |
Amortization of intangible assets | 1,189 | 0 |
Amortization of deferred amounts related to FHLB advances, net | 4 | 670 |
Common stock committed to be released for allocation - ESOP | 1,078 | 1,114 |
Stock-based compensation | 185 | 187 |
Changes in: | ||
Unrestricted cash collateral (provided to)/received from derivative counterparties, net | (9,970) | 6,711 |
Other assets, net | 1,418 | 2,257 |
Income taxes payable, net | 2,291 | 138 |
Deferred income tax liabilities, net | (745) | (6,396) |
Accounts payable and accrued expenses | (13,894) | (8,350) |
Net cash provided by operating activities | 32,138 | 66,759 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of AFS securities | (172,506) | (223,829) |
Proceeds from calls, maturities and principal reductions of AFS securities | 149,524 | 73,993 |
Proceeds from calls, maturities and principal reductions of HTM securities | 83,692 | 109,702 |
Proceeds from sale of AFS securities | 0 | 2,078 |
Proceeds from the redemption of FHLB stock | 97,096 | 3,045 |
Purchase of FHLB stock | (96,199) | (91,421) |
Net increase in loans receivable | (57,073) | (22,437) |
Purchase of premises and equipment | (4,583) | (4,214) |
Proceeds from sale of other real estate owned (OREO) | 1,062 | 1,587 |
Net cash provided by (used in) investing activities | 1,013 | (151,496) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Cash dividends paid | (77,062) | (61,839) |
Net change in deposits | 97,757 | 44,325 |
Proceeds from borrowings | 2,680,000 | 8,500,000 |
Repayments on borrowings | (2,625,052) | (8,600,000) |
Change in advance payments by borrowers for taxes and insurance | (16,963) | (9,053) |
Stock options exercised | 585 | 225 |
Net cash provided by (used in) financing activities | 59,265 | (126,342) |
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS | 92,416 | (211,079) |
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS: | ||
Beginning of period | 139,055 | 351,659 |
End of period | 231,471 | 140,580 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
Loans transferred to LHFS | $ 0 | $ 15,814 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 6 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation - The consolidated financial statements include the accounts of Capitol Federal® Financial, Inc. (the "Company") and its wholly-owned subsidiary, Capitol Federal Savings Bank (the "Bank"). The Bank has two wholly-owned subsidiaries, Capitol Funds, Inc. and Capital City Investments, Inc. Capitol Funds, Inc. has a wholly-owned subsidiary, Capitol Federal Mortgage Reinsurance Company. Capital City Investments, Inc. is a real estate and investment holding company. All intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. These statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2018 , filed with the Securities and Exchange Commission ("SEC"). Interim results are not necessarily indicative of results for a full year. Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents - Cash, cash equivalents, restricted cash and restricted cash equivalents reported in the statement of cash flows include cash and cash equivalents of $218.1 million and $139.1 million at March 31, 2019 and September 30, 2018 and restricted cash and cash equivalents of $13.4 million at March 31, 2019 , which was included in other assets on the consolidated balance sheet. There was no restricted cash and cash equivalents at September 30, 2018 . The restricted cash and cash equivalents relate to the collateral postings to/from the Bank's derivative counterparties associated with the Bank's interest rate swaps. See additional discussion regarding the interest rate swaps in Note 5. Borrowed Funds. Net Presentation of Cash Flows Related to Borrowings - At times, the Bank enters into certain FHLB advances with contractual maturities of 90 days or less. Cash flows related to these advances are reported on a net basis in the consolidated statements of cash flows. Recent Accounting Pronouncements - In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-09, Revenue from Contracts with Customers. The ASU, as amended, implements a common revenue standard that clarifies the principles for recognizing revenue included in Accounting Standards Codification ("ASC") Topic 606. The core principle of the amended guidance is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The majority of the Company's revenue is composed of interest income from loans and securities which are explicitly excluded from the amended ASU. The Company elected to implement the amended ASU using the modified retrospective application with a cumulative adjustment to opening retained earnings at October 1, 2018. Upon adoption of the amended ASU, the Company recorded a cumulative adjustment, which increased opening retained earnings by $394 thousand related to contracts that were not complete upon adoption. The amount was related to the change in the recognition of revenue related to certain insurance commissions. Additionally, effective October 1, 2018, interchange network charges are reported as a reduction in deposit service fees. Previously, these charges were reported as expense in deposit and loan transaction costs in the consolidated statements of income. The Company concluded the ASU did not significantly change the Company's revenue recognition methods. This ASU did not have a material impact on the Company's consolidated financial condition or results of operations at the time of adoption. The new disclosure requirements of the ASU are included in Note 8. Revenue Recognition. In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities . The ASU supersedes certain accounting guidance related to equity securities with readily determinable fair values and the related impairment assessment. An entity's equity investments that are accounted for under the equity method of accounting or result in consolidation of an investee are not included within the scope of this ASU. The ASU requires public business entities to utilize the exit price notion when determining fair value for financial instruments measured at amortized cost on the balance sheet. The ASU also requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or in the notes to the financial statements. ASU 2016-01 became effective for the Company on October 1, 2018. The adoption of this ASU did not have a material impact on the Company's consolidated financial condition or results of operations. The new disclosure requirements of the ASU are included in Note 6. Fair Value of Financial Instruments. In February 2016, the FASB issued ASU 2016-02, Leases . The ASU, as amended, revises lease accounting guidance by requiring that lessees recognize the assets and liabilities arising from leases on the balance sheet. Additionally, the ASU requires entities to disclose both quantitative and qualitative information regarding their leasing activities. The accounting applied by a lessor is largely unchanged from that applied under the previous guidance. ASU 2016-02 will become effective for the Company on Oc tober 1, 2019. In July 2018, the FASB issued ASU 2018-11, Leases , which provides entities with relief from the costs of implementation by allowing the option to not restate comparative periods as part of the transition. The Company expects to select the transition relief provisions. The Company has completed its development of a lease inventory and an internal lease data collection, organization, and computing platform for compliance with this ASU. The Company is continuing to evaluate the impact this ASU may have on the Company's consolidated financial condition and results of operations. The Company expects to recognize right-of-use assets and lease liabilities fo r substantially all of its operating lease commitments based on the present value of the minimum commitments under non-cancellable leases as of the date of adoption. The Company is continuing to evaluate the impact this ASU may have to the Company's disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments . The ASU, as amended, replaces the incurred loss impairment methodology in current GAAP, which requires credit losses to be recognized when it is probable that a loss has been incurred, with a new impairment methodology. The new impairment methodology requires an entity to measure, at each reporting date, the expected credit losses of financial assets not measured at fair value, such as loans, HTM debt securities, and loan commitments, over their contractual lives. Under the new impairment methodology, expected credit losses will be measured at each reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Additionally, the ASU amends the current credit loss measurements for AFS debt securities. Credit losses related to AFS debt securities will be recorded through the ACL rather than as a direct write-down as per current GAAP. The ASU also requires enhanced disclosures related to credit quality and significant estimates and judgments used by management when estimating credit losses. The ASU will become effective for the Company on October 1, 2020. The Company has selected a third-party vendor solution to assist in the application and implementation of the new accounting guidance and will begin loading historical loan and loss data into the third-party software during the third quarter of fiscal year 2019. While we are currently unable to reasonably estimate the impact of adopting this ASU, we expect the impact of adoption will be influenced by the composition of our loan and securities portfolios as well as the economic conditions and forecasts at the time of adoption. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows: Restricted Cash (a consensus of the FASB Emerging Issues Task Force) . The ASU addresses diversity in the classification and presentation of changes in restricted cash and cash equivalents on the statement of cash flows. The ASU requires that amounts described as restricted cash and cash equivalents be included with cash and cash equivalents when reconciling the beginning and ending amounts presented on the statement of cash flows, requires disclosures on the nature of restrictions on cash and cash equivalents, and the amount and financial statement line presentation of restricted cash and cash equivalents. The Company adopted this ASU on October 1, 2018 and it did not have a material impact on the Company's consolidated financial condition or results of operations at the time of adoption. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities . The ASU amends the hedge accounting recognition and presentation requirements in current GAAP. The purpose of the ASU was to improve transparency of hedging relationships in the financial statements and to reduce the complexity of applying hedge accounting for preparers. The ASU will become effective for the Company on October 1, 2019. The Company is currently evaluating the effect of the ASU on the Company's consolidated financial condition, results of operations and disclosures. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement: Disclosure Framework - Changes to the Disclosures Requirements for Fair Value Measurement . This ASU eliminates, modifies and adds certain disclosure requirements for fair value measurements. The ASU adds disclosure requirements for the changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The effective date of this ASU for the Company is October 1, 2020, with early adoption permitted. Entities are allowed to elect early adoption of the eliminated or modified disclosure requirements and delay adoption of the new disclosure requirements until their effective date. Since this ASU only requires disclosure changes, it will not have a significant impact on the Company's consolidated financial condition and results of operations. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software: Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | EARNINGS PER SHARE Shares acquired by the ESOP are not included in basic average shares outstanding until the shares are committed for allocation or vested to an employee's individual account. Unvested shares awarded pursuant to the Company's restricted stock benefit 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. For the Three Months Ended For the Six Months Ended March 31, March 31, 2019 2018 2019 2018 (Dollars in thousands, except per share amounts) Net income $ 24,554 $ 23,330 $ 48,937 $ 55,166 Income allocated to participating securities (10 ) (10 ) (19 ) (23 ) Net income available to common stockholders $ 24,544 $ 23,320 $ 48,918 $ 55,143 Average common shares outstanding 137,593,062 134,386,469 137,571,533 134,379,424 Average committed ESOP shares outstanding 41,758 41,758 20,876 20,876 Total basic average common shares outstanding 137,634,820 134,428,227 137,592,409 134,400,300 Effect of dilutive stock options 55,897 47,001 48,717 70,959 Total diluted average common shares outstanding 137,690,717 134,475,228 137,641,126 134,471,259 Net EPS: Basic $ 0.18 $ 0.17 $ 0.36 $ 0.41 Diluted $ 0.18 $ 0.17 $ 0.36 $ 0.41 Antidilutive stock options, excluded from the diluted average common shares outstanding calculation 494,395 598,195 529,261 527,642 |
Securities
Securities | 6 Months Ended |
Mar. 31, 2019 | |
Marketable Securities [Abstract] | |
Securities | SECURITIES The following tables reflect the amortized cost, estimated fair value, and gross unrealized gains and losses of AFS and HTM securities at the dates presented. The majority of the MBS and investment securities portfolios are composed of securities issued by United States government-sponsored enterprises ("GSEs"). March 31, 2019 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) AFS: MBS $ 469,455 $ 5,995 $ 606 $ 474,844 GSE debentures 268,375 274 908 267,741 Municipal bonds 4,145 3 5 4,143 $ 741,975 $ 6,272 $ 1,519 $ 746,728 HTM: MBS $ 510,450 $ 5,107 $ 6,461 $ 509,096 Municipal bonds 17,010 19 26 17,003 $ 527,460 $ 5,126 $ 6,487 $ 526,099 September 30, 2018 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) AFS: MBS $ 445,883 $ 3,270 $ 4,063 $ 445,090 GSE debentures 268,525 30 3,157 265,398 Municipal bonds 4,156 — 30 4,126 $ 718,564 $ 3,300 $ 7,250 $ 714,614 HTM: MBS $ 591,900 $ 4,514 $ 15,589 $ 580,825 Municipal bonds 20,418 — 172 20,246 $ 612,318 $ 4,514 $ 15,761 $ 601,071 The following tables summarize the estimated fair value and gross unrealized losses of those securities on which an unrealized loss at the dates presented was reported and the continuous unrealized loss position for less than 12 months and equal to or greater than 12 months as of the dates presented. March 31, 2019 Less Than 12 Months Equal to or Greater Than 12 Months Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses (Dollars in thousands) AFS: MBS $ 11,197 $ 55 $ 67,001 $ 551 GSE debentures 27,776 3 99,077 905 Municipal bonds — — 1,510 5 $ 38,973 $ 58 $ 167,588 $ 1,461 HTM: MBS $ 1,551 $ 2 $ 331,809 $ 6,459 Municipal bonds 330 2 7,977 24 $ 1,881 $ 4 $ 339,786 $ 6,483 September 30, 2018 Less Than 12 Months Equal to or Greater Than 12 Months Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses (Dollars in thousands) AFS: MBS $ 324,563 $ 3,797 $ 8,129 $ 266 GSE debentures 101,735 1,231 148,049 1,926 Municipal bonds 4,126 30 — — $ 430,424 $ 5,058 $ 156,178 $ 2,192 HTM: MBS $ 58,233 $ 904 $ 362,806 $ 14,685 Municipal bonds 18,345 171 685 1 $ 76,578 $ 1,075 $ 363,491 $ 14,686 The unrealized losses at March 31, 2019 and September 30, 2018 were primarily a result of an increase in market yields from the time the securities were purchased. In general, as market yields rise, the fair value of securities will decrease; as market yields fall, the fair value of securities will increase. Management generally views changes in fair value caused by changes in interest rates as temporary. Therefore, these securities have not been classified as other-than-temporarily impaired. The impairment is also considered temporary because scheduled coupon payments have been made, it is anticipated that the entire principal balance will be collected as scheduled, and management neither intends to sell the securities, nor is it more likely than not that the Company will be required to sell the securities, before the recovery of the remaining amortized cost amount, which could be at maturity. As a result of the analysis, management has concluded that no other-than-temporary impairments existed at March 31, 2019 or September 30, 2018 . The amortized cost and estimated fair value of debt securities as of March 31, 2019 , by contractual maturity, are shown below. Actual principal repayments may differ from contractual maturities due to prepayment or early call privileges by the issuer. In the case of MBS, borrowers on the underlying loans generally have the right to prepay their loans without prepayment penalty. For this reason, MBS are not included in the maturity categories. AFS HTM Amortized Estimated Amortized Estimated Cost Fair Value Cost Fair Value (Dollars in thousands) One year or less $ 5,400 $ 5,398 $ 3,842 $ 3,837 One year through five years 267,120 266,486 13,168 13,166 272,520 271,884 17,010 17,003 MBS 469,455 474,844 510,450 509,096 $ 741,975 $ 746,728 $ 527,460 $ 526,099 The following table presents the taxable and non-taxable components of interest income on investment securities for the periods presented. For the Three Months Ended For the Six Months Ended March 31, March 31, 2019 2018 2019 2018 (Dollars in thousands) Taxable $ 1,419 $ 998 $ 2,767 $ 1,878 Non-taxable 86 96 179 210 $ 1,505 $ 1,094 $ 2,946 $ 2,088 The following table summarizes the carrying value of securities pledged as collateral for the obligations indicated below as of the dates presented. March 31, 2019 September 30, 2018 (Dollars in thousands) Public unit deposits $ 467,812 $ 515,553 Repurchase agreements 107,862 108,360 Federal Reserve Bank of Kansas City ("FRB of Kansas City") 7,979 9,529 $ 583,653 $ 633,442 |
Loans Receivable And Allowance
Loans Receivable And Allowance For Credit Losses | 6 Months Ended |
Mar. 31, 2019 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans Receivable And Allowance For Credit Losses | LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSESLoans receivable, net at the dates presented is summarized as follows: March 31, 2019 September 30, 2018 (Dollars in thousands) One- to four-family: Originated $ 3,922,565 $ 3,965,692 Correspondent purchased 2,470,619 2,505,987 Bulk purchased 272,575 293,607 Construction 33,525 33,149 Total 6,699,284 6,798,435 Commercial: Commercial real estate 547,202 426,243 Commercial and industrial 73,852 62,869 Construction 108,649 80,498 Total 729,703 569,610 Consumer: Home equity 125,176 129,588 Other 9,913 10,012 Total 135,089 139,600 Total loans receivable 7,564,076 7,507,645 Less: ACL 8,619 8,463 Discounts/unearned loan fees 32,582 33,933 Premiums/deferred costs (47,931 ) (49,236 ) $ 7,570,806 $ 7,514,485 Lending Practices and Underwriting Standards - Originating and purchasing one- to four-family loans is the Bank's primary lending business. The Bank also originates consumer loans primarily secured by one- to four-family residential properties and originates and participates in commercial loans. The Bank has a loan concentration in one- to four-family loans and a geographic concentration of these loans in Kansas and Missouri. One- to four-family loans - Full documentation to support an applicant's credit and income, and sufficient funds to cover all applicable fees and reserves at closing, are required on all loans. Generally, loans are underwritten according to the "ability to repay" and "qualified mortgage" standards, as issued by the Consumer Financial Protection Bureau ("CFPB"). Properties securing one- to four-family loans are appraised by either staff appraisers or fee appraisers, both of which are independent of the loan origination function and approved by our Board of Directors. The underwriting standards for loans purchased from correspondent lenders are generally similar to the Bank's internal underwriting standards. The underwriting of loans purchased from correspondent lenders on a loan-by-loan basis is performed by the Bank's underwriters. The Bank also originates construction and owner-occupied construction-to-permanent loans secured by one- to four-family residential real estate. Construction draw requests and the supporting documentation are reviewed and approved by designated personnel. The Bank also performs regular documented inspections of the construction project to ensure the funds are being used for the intended purpose and the project is being completed according to the plans and specifications provided. Commercial loans - The Bank's commercial real estate loans are originated by the Bank or are in participation with a lead bank. When underwriting a commercial real estate loan, several factors are considered, such as the income producing potential of the property, cash equity provided by the borrower, the financial strength of the borrower, managerial expertise of the borrower or tenant, feasibility studies, lending experience with the borrower and the marketability of the property. For commercial real estate participation loans, the Bank performs the same underwriting procedures as if the loan was being originated by the Bank. At the time of origination, loan-to-value ("LTV") ratios on commercial real estate loans generally do not exceed 80% of the appraised value of the property securing the loans and the minimum debt service coverage ratio is generally 1.20 . Appraisals on properties securing these loans are performed by independent state certified fee appraisers. The Bank's commercial and industrial loans are generally made in the Bank's market areas and are underwritten on the basis of the borrower's ability to service the debt from income. Working capital loans are primarily collateralized by short-term assets whereas term loans are primarily collateralized by long-term assets. In general, commercial and industrial loans involve more credit risk than commercial real estate loans due to the type of collateral securing these loans, as well as the expectation that commercial and industrial loans generally will be serviced principally from the operations of the business, and those operations may not be successful. As a result of these additional complexities, variables and risks, these loans require more thorough underwriting and servicing than other types of loans. Consumer loans - The Bank offers a variety of secured consumer loans, including home equity loans and lines of credit, home improvement loans, vehicle loans, and loans secured by deposits. The Bank also originates a very limited amount of unsecured loans. The majority of the consumer loan portfolio is comprised of home equity lines of credit for which the Bank also has the first mortgage or the home equity line of credit is in the first lien position. The underwriting standards for consumer loans include a determination of an applicant's payment history on other debts and an assessment of an applicant's ability to meet existing obligations and payments on the proposed loan. Although creditworthiness of an applicant is a primary consideration, the underwriting process also includes a comparison of the value of the security in relation to the proposed loan amount. Credit Quality Indicators - Based on the Bank's lending emphasis and underwriting standards, management has segmented the loan portfolio into three segments: (1) one- to four-family; (2) consumer; and (3) commercial. These segments are further divided into classes for purposes of providing disaggregated information about the credit quality of the loan portfolio. The classes are: one- to four-family - originated, one- to four-family - correspondent purchased, one- to four-family - bulk purchased, consumer - home equity, consumer - other, commercial - commercial real estate, and commercial - commercial and industrial. The Bank's primary credit quality indicators for the one- to four-family and consumer - home equity loan portfolios are delinquency status, asset classifications, LTV ratios, and borrower credit scores. The Bank's primary credit quality indicators for the commercial and consumer - other loan portfolios are delinquency status and asset classifications. The following tables present the recorded investment, by class, in loans 30 to 89 days delinquent, loans 90 or more days delinquent or in foreclosure, total delinquent loans, current loans, and total recorded investment at the dates presented. The recorded investment in loans is defined as the unpaid principal balance of a loan, less charge-offs and inclusive of unearned loan fees and deferred costs. At March 31, 2019 and September 30, 2018 , all loans 90 or more days delinquent were on nonaccrual status. March 31, 2019 90 or More Days Total Total 30 to 89 Days Delinquent or Delinquent Current Recorded Delinquent in Foreclosure Loans Loans Investment (Dollars in thousands) One- to four-family: Originated $ 8,665 $ 5,158 $ 13,823 $ 3,927,534 $ 3,941,357 Correspondent purchased 4,186 932 5,118 2,499,826 2,504,944 Bulk purchased 2,764 2,799 5,563 268,267 273,830 Commercial: Commercial real estate 64 — 64 651,373 651,437 Commercial and industrial 1,303 — 1,303 71,741 73,044 Consumer: Home equity 430 514 944 123,999 124,943 Other 51 14 65 9,805 9,870 $ 17,463 $ 9,417 $ 26,880 $ 7,552,545 $ 7,579,425 September 30, 2018 90 or More Days Total Total 30 to 89 Days Delinquent or Delinquent Current Recorded Delinquent in Foreclosure Loans Loans Investment (Dollars in thousands) One- to four-family: Originated $ 10,613 $ 5,025 $ 15,638 $ 3,968,362 $ 3,984,000 Correspondent purchased 3,846 458 4,304 2,536,913 2,541,217 Bulk purchased 3,521 3,063 6,584 288,386 294,970 Commercial: Commercial real estate 76 — 76 501,932 502,008 Commercial and industrial 250 — 250 61,255 61,505 Consumer: Home equity 472 521 993 128,351 129,344 Other 61 10 71 9,833 9,904 $ 18,839 $ 9,077 $ 27,916 $ 7,495,032 $ 7,522,948 The recorded investment in mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process as of March 31, 2019 and September 30, 2018 was $3.1 million and $2.9 million , respectively, which is included in loans 90 or more days delinquent or in foreclosure in the table above. The carrying value of residential OREO held as a result of obtaining physical possession upon completion of a foreclosure or through completion of a deed in lieu of foreclosure was $871 thousand at March 31, 2019 and $1.3 million at September 30, 2018 . The following table presents the recorded investment, by class, in loans classified as nonaccrual at the dates presented. March 31, 2019 September 30, 2018 (Dollars in thousands) One- to four-family: Originated $ 6,872 $ 6,503 Correspondent purchased 932 863 Bulk purchased 2,799 3,063 Commercial: Commercial real estate 1,288 — Commercial and industrial — — Consumer: Home equity 517 530 Other 20 10 $ 12,428 $ 10,969 In accordance with the Bank's asset classification policy, management regularly reviews the problem loans in the Bank's portfolio to determine whether any loans require classification. Loan classifications are defined as follows: • Special mention - These loans are performing loans on which known information about the collateral pledged or the possible credit problems of the borrower(s) have caused management to have doubts as to the ability of the borrower(s) to comply with present loan repayment terms and which may result in the future inclusion of such loans in the non-performing loan categories. • Substandard - A loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans include those characterized by the distinct possibility the Bank will sustain some loss if the deficiencies are not corrected. • Doubtful - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses present make collection or liquidation in full on the basis of currently existing facts and conditions and values highly questionable and improbable. • Loss - Loans classified as loss are considered uncollectible and of such little value that their continuance as assets on the books is not warranted. The following table sets forth the recorded investment in loans classified as special mention or substandard, by class, at the dates presented. Special mention and substandard loans are included in the ACL formula analysis model if the loans are not individually evaluated for loss. Loans classified as doubtful or loss are individually evaluated for loss. At the dates presented, there were no loans classified as doubtful, and all loans classified as loss were fully charged-off. March 31, 2019 September 30, 2018 Special Mention Substandard Special Mention Substandard (Dollars in thousands) One- to four-family: Originated $ 9,522 $ 19,247 $ 8,660 $ 22,409 Correspondent purchased 2,312 3,101 997 3,126 Bulk purchased 69 6,208 — 7,195 Commercial: Commercial real estate 3,675 1,288 1,251 1,368 Commercial and industrial 1,641 — 1,126 — Consumer: Home equity 110 834 298 894 Other 15 3 — 10 $ 17,344 $ 30,681 $ 12,332 $ 35,002 The following table shows the weighted average credit score and weighted average LTV for one- to four-family loans and consumer home equity loans at the dates presented. Borrower credit scores are intended to provide an indication as to the likelihood that a borrower will repay their debts. Credit scores are updated at least semiannually, with the last update in March 2019, from a nationally recognized consumer rating agency. The LTV ratios provide an estimate of the extent to which the Bank may incur a loss on any given loan that may go into foreclosure. The consumer - home equity LTV does not take into account the first lien position, if applicable. The LTV ratios were based on the current loan balance and either the lesser of the purchase price or original appraisal, or the most recent Bank appraisal, if available. In most cases, the most recent appraisal was obtained at the time of origination. March 31, 2019 September 30, 2018 Credit Score LTV Credit Score LTV One- to four-family - originated 768 62 % 767 63 % One- to four-family - correspondent 764 66 764 67 One- to four-family - bulk purchased 761 61 758 62 Consumer - home equity 754 21 750 22 766 63 765 63 The following tables present the recorded investment prior to restructuring and immediately after restructuring in all loans restructured during the periods presented. These tables do not reflect the recorded investment at the end of the periods indicated. Any increase in the recorded investment at the time of the restructuring was generally due to the capitalization of delinquent interest and/or escrow balances. For the Three Months Ended For the Six Months Ended March 31, 2019 March 31, 2019 Number Pre- Post- Number Pre- Post- of Restructured Restructured of Restructured Restructured Contracts Outstanding Outstanding Contracts Outstanding Outstanding (Dollars in thousands) One- to four-family: Originated — $ — $ — 1 $ 117 $ 117 Correspondent purchased — — — — — — Bulk purchased 1 308 308 1 308 308 Commercial: Commercial real estate — — — — — — Commercial and industrial — — — — — — Consumer: Home equity — — — — — — Other — — — — — — 1 $ 308 $ 308 2 $ 425 $ 425 For the Three Months Ended For the Six Months Ended March 31, 2018 March 31, 2018 Number Pre- Post- Number Pre- Post- of Restructured Restructured of Restructured Restructured Contracts Outstanding Outstanding Contracts Outstanding Outstanding (Dollars in thousands) One- to four-family: Originated 2 $ 93 $ 94 3 $ 167 $ 176 Correspondent purchased — — — — — — Bulk purchased — — — — — — Commercial: Commercial real estate — — — — — — Commercial and industrial — — — — — — Consumer: Home equity — — — — — — Other — — — — — — 2 $ 93 $ 94 3 $ 167 $ 176 The following table provides information on TDRs that became delinquent during the periods presented within 12 months after being restructured. For the Three Months Ended For the Six Months Ended March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Number of Recorded Number of Recorded Number of Recorded Number of Recorded Contracts Investment Contracts Investment Contracts Investment Contracts Investment (Dollars in thousands) One- to four-family: Originated 1 $ 45 7 $ 434 1 $ 45 19 $ 1,254 Correspondent purchased — — 1 124 — — 1 124 Bulk purchased — — — — — — 3 1,040 Commercial: Commercial real estate — — — — — — — — Commercial and industrial — — — — — — — — Consumer: Home equity — — — — — — 4 133 Other — — — — — — — — 1 $ 45 8 $ 558 1 $ 45 27 $ 2,551 Impaired loans - The following information pertains to impaired loans, by class, as of the dates presented. All impaired loans were individually evaluated for loss and all losses were charged-off, resulting in no related ACL for these loans. March 31, 2019 September 30, 2018 Unpaid Unpaid Recorded Principal Recorded Principal Investment Balance Investment Balance (Dollars in thousands) One- to four-family: Originated $ 15,299 $ 15,826 $ 18,857 $ 19,388 Correspondent purchased 2,170 2,274 2,668 2,768 Bulk purchased 5,131 5,849 6,011 6,976 Commercial: Commercial real estate — — — — Commercial and industrial — — — — Consumer: Home equity 398 548 504 720 Other — 30 — 25 $ 22,998 $ 24,527 $ 28,040 $ 29,877 The following information pertains to impaired loans, by class, for the periods presented. For the Three Months Ended For the Six Months Ended March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Average Interest Average Interest Average Interest Average Interest Recorded Income Recorded Income Recorded Income Recorded Income Investment Recognized Investment Recognized Investment Recognized Investment Recognized (Dollars in thousands) One- to four-family: Originated $ 15,928 $ 167 $ 25,398 $ 251 16,980 352 26,896 548 Correspondent purchased 2,177 23 3,362 31 2,251 45 3,530 64 Bulk purchased 5,230 43 6,319 42 5,453 86 6,761 95 Commercial: Commercial real estate — — — — — — — — Commercial and industrial — — — — — — — — Consumer: Home equity 436 7 606 9 461 16 637 19 Other — — — — — — — — $ 23,771 $ 240 $ 35,685 $ 333 $ 25,145 $ 499 $ 37,824 $ 726 - The following is a summary of ACL activity, by loan portfolio segment, for the periods presented, and the ending balance of ACL based on the Company's impairment methodology. For the Three Months Ended March 31, 2019 One- to Four-Family Correspondent Bulk Originated Purchased Purchased Total Commercial Consumer Total (Dollars in thousands) Beginning balance $ 2,761 $ 1,748 $ 836 $ 5,345 $ 3,034 $ 179 $ 8,558 Charge-offs (10 ) — — (10 ) — (2 ) (12 ) Recoveries 2 — 17 19 25 29 73 Provision for credit losses (580 ) (356 ) (51 ) (987 ) 1,029 (42 ) — Ending balance $ 2,173 $ 1,392 $ 802 $ 4,367 $ 4,088 $ 164 $ 8,619 For the Six Months Ended March 31, 2019 One- to Four-Family Correspondent Bulk Originated Purchased Purchased Total Commercial Consumer Total (Dollars in thousands) Beginning balance $ 2,953 $ 1,861 $ 925 $ 5,739 $ 2,556 $ 168 $ 8,463 Charge-offs (30 ) — (26 ) (56 ) — (12 ) (68 ) Recoveries 5 — 106 111 27 86 224 Provision for credit losses (755 ) (469 ) (203 ) (1,427 ) 1,505 (78 ) — Ending balance $ 2,173 $ 1,392 $ 802 $ 4,367 $ 4,088 $ 164 $ 8,619 For the Three Months Ended March 31, 2018 One- to Four-Family Correspondent Bulk Originated Purchased Purchased Total Commercial Consumer Total (Dollars in thousands) Beginning balance $ 3,115 $ 1,902 $ 1,000 $ 6,017 $ 2,157 $ 196 $ 8,370 Charge-offs (68 ) (128 ) — (196 ) — (4 ) (200 ) Recoveries 17 — 196 213 — 7 220 Provision for credit losses 92 260 (196 ) 156 (119 ) (37 ) — Ending balance $ 3,156 $ 2,034 $ 1,000 $ 6,190 $ 2,038 $ 162 $ 8,390 For the Six Months Ended March 31, 2018 One- to Four-Family Correspondent Bulk Originated Purchased Purchased Total Commercial Consumer Total (Dollars in thousands) Beginning balance $ 3,173 $ 1,922 $ 1,000 $ 6,095 $ 2,112 $ 191 $ 8,398 Charge-offs (71 ) (128 ) — (199 ) — (35 ) (234 ) Recoveries 17 — 196 213 — 13 226 Provision for credit losses 37 240 (196 ) 81 (74 ) (7 ) — Ending balance $ 3,156 $ 2,034 $ 1,000 $ 6,190 $ 2,038 $ 162 $ 8,390 The following is a summary of the loan portfolio and related ACL balances, at the dates presented, by loan portfolio segment disaggregated by the Company's impairment method. There was no ACL for loans individually evaluated for impairment at either date as all losses were charged-off. March 31, 2019 One- to Four-Family Correspondent Bulk Originated Purchased Purchased Total Commercial Consumer Total (Dollars in thousands) Recorded investment in loans collectively evaluated for impairment $ 3,926,057 $ 2,502,775 $ 268,699 $ 6,697,531 $ 724,481 $ 134,415 $ 7,556,427 Recorded investment in loans individually evaluated for impairment 15,300 2,169 5,131 22,600 — 398 22,998 $ 3,941,357 $ 2,504,944 $ 273,830 $ 6,720,131 $ 724,481 $ 134,813 $ 7,579,425 ACL for loans collectively evaluated for impairment $ 2,173 $ 1,392 $ 802 $ 4,367 $ 4,088 $ 164 $ 8,619 September 30, 2018 One- to Four-Family Correspondent Bulk Originated Purchased Purchased Total Commercial Consumer Total (Dollars in thousands) Recorded investment in loans collectively evaluated for impairment $ 3,965,143 $ 2,538,549 $ 288,959 $ 6,792,651 $ 563,513 $ 138,744 $ 7,494,908 Recorded investment in loans individually evaluated for impairment 18,857 2,668 6,011 27,536 — 504 28,040 $ 3,984,000 $ 2,541,217 $ 294,970 $ 6,820,187 $ 563,513 $ 139,248 $ 7,522,948 ACL for loans collectively evaluated for impairment $ 2,953 $ 1,861 $ 925 $ 5,739 $ 2,556 $ 168 $ 8,463 |
Borrowed Funds
Borrowed Funds | 6 Months Ended |
Mar. 31, 2019 | |
Debt Disclosure [Abstract] | |
Borrowed Funds | BORROWED FUNDS FHLB Borrowings and Interest Rate Swaps - At March 31, 2019 and September 30, 2018 , the Bank had interest rate swap agreements with a total notional amount of $640.0 million and $475.0 million , respectively, in order to hedge the variable cash flows associated with $640.0 million and $475.0 million , respectively, of adjustable-rate FHLB advances. At March 31, 2019 and September 30, 2018 , the interest rate swap agreements had an average remaining term to maturity of 4.9 years and 5.8 years , respectively. The interest rate swaps were designated as cash flow hedges and involve the receipt of variable amounts from a counterparty in exchange for the Bank making fixed-rate payments over the life of the interest rate swap agreements. At March 31, 2019 , the interest rate swaps were in a loss position with a total fair value of $11.9 million , which was reported in accounts payable and accrued expenses on the consolidated balance sheet. At September 30, 2018 , the interest rate swaps were in a gain position with a total fair value of $9.7 million , which was reported in other assets on the consolidated balance sheet. During the three months ended March 31, 2019 , $100 thousand was reclassified from AOCI as a decrease to interest expense. During the six months ended March 31, 2019 , $51 thousand was reclassified from AOCI as an increase to interest expense. During the three and six months ended March 31, 2018 , $140 thousand and $414 thousand , respectively, were reclassified from AOCI as a decrease to interest expense. There was no hedge ineffectiveness recognized in the consolidated statements of income during either period. At March 31, 2019 , the Company estimates that $888 thousand will be reclassified as an increase to interest expense during the next 12 months. The Bank has minimum collateral posting thresholds with its derivative counterparties and posts collateral on a daily basis. The Bank posted cash collateral of $13.4 million at March 31, 2019 and held cash collateral of $10.0 million at September 30, 2018 . Junior Subordinated Debentures and Trust Preferred Securities - In conjunction with the Capital City Bancshares, Inc. ("CCB") acquisition, the Company assumed $10.1 million of junior subordinated debentures relating to mandatorily redeemable capital trust preferred securities that were previously issued by CCB-sponsored trusts to third party investors. The proceeds from the trust preferred securities were invested in the related junior subordinated debentures issued by CCB. The junior subordinated debentures were redeemed during the six months ended March 31, 2019 |
Fair Value Of Financial Instrum
Fair Value Of Financial Instruments | 6 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Of Financial Instruments | FAIR VALUE OF FINANCIAL INSTRUMENTS Fair Value Measurements - The Company uses fair value measurements to record fair value adjustments to certain financial instruments and to determine fair value disclosures in accordance with ASC 820 and ASC 825. The Company's AFS securities and interest rate swaps are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other financial instruments on a non-recurring basis, such as OREO and loans individually evaluated for impairment. These non-recurring fair value adjustments involve the application of lower of cost or fair value accounting or write-downs of individual financial instruments. The Company groups its financial instruments at fair value in three levels based on the markets in which the financial instruments are traded and the reliability of the assumptions used to determine fair value. These levels are: • Level 1 - Valuation is based upon quoted prices for identical instruments traded in active markets. • Level 2 - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3 - Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Company's own estimates of assumptions that market participants would use in pricing the financial instrument. Valuation techniques include the use of option pricing models, discounted cash flow models, and similar techniques. The results cannot be determined with precision and may not be realized in an actual sale or immediate settlement of the financial instrument. The Company bases its fair values on the price that would be received from the sale of a financial instrument in an orderly transaction between market participants at the measurement date under current market conditions. The Company maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. The following is a description of valuation methodologies used for financial instruments measured at fair value on a recurring basis. AFS Securities - The Company's AFS securities portfolio is carried at estimated fair value. The majority of the securities within the AFS portfolio were issued by GSEs. The Company primarily uses prices obtained from third party pricing services to determine the fair value of its securities. On a quarterly basis, management corroborates a sample of prices obtained from the third party pricing service for Level 2 securities by comparing them to an independent source. If the price provided by the independent source varies by more than a predetermined percentage from the price received from the third party pricing service, then the variance is researched by management. The Company did not have to adjust prices obtained from the third party pricing service when determining the fair value of its securities during the six months ended March 31, 2019 or during fiscal year 2018. The Company's major security types, based on the nature and risks of the securities, are: • GSE Debentures - Estimated fair values are based on a discounted cash flow method. Cash flows are determined by taking any embedded options into consideration and are discounted using current market yields for similar securities. (Level 2) • MBS - Estimated fair values are based on a discounted cash flow method. Cash flows are determined based on prepayment projections of the underlying mortgages and are discounted using current market yields for benchmark securities. (Level 2) • Municipal Bonds - Estimated fair values are based on a discounted cash flow method. Cash flows are determined by taking any embedded options into consideration and are discounted using current market yields for securities with similar credit profiles. (Level 2) Interest Rate Swaps - The Company's interest rate swaps are designated as cash flow hedges and are reported at fair value in other assets on the consolidated balance sheet if in a gain position, and in accounts payable and accrued expenses if in a loss position, with any unrealized gains and losses, net of taxes, reported as AOCI in stockholders' equity. See "Note 5. Borrowed Funds" for additional information. The estimated fair value of the interest rates swaps are obtained from the counterparty and are determined using a discounted cash flow analysis using observable market-based inputs. On a quarterly basis, management corroborates the estimated fair values by internally calculating the estimated fair value using a discounted cash flow analysis with independent observable market-based inputs from a third party. The Company did not make any adjustments to the estimated fair value during the six months ended March 31, 2019 or during fiscal year 2018. (Level 2) The following tables provide the level of valuation assumption used to determine the carrying value of the Company's financial instruments measured at fair value on a recurring basis at the dates presented. The Company did not have any Level 3 financial instruments measured at fair value on a recurring basis at March 31, 2019 or September 30, 2018 . The Company did not have any liabilities measured at fair value at September 30, 2018. March 31, 2019 Quoted Prices Significant Significant in Active Markets Other Observable Unobservable Carrying for Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: AFS Securities: MBS $ 474,844 $ — $ 474,844 $ — GSE debentures 267,741 — 267,741 — Municipal bonds 4,143 — 4,143 — 746,728 — 746,728 — Interest rate swaps — — — — $ 746,728 $ — $ 746,728 $ — Liabilities: Interest rate swaps $ 11,907 $ — $ 11,907 $ — September 30, 2018 Quoted Prices Significant Significant in Active Markets Other Observable Unobservable Carrying for Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: AFS Securities: MBS $ 445,090 $ — $ 445,090 $ — GSE debentures 265,398 — 265,398 — Municipal bonds 4,126 — 4,126 — 714,614 — 714,614 — Interest rate swaps 9,685 — 9,685 — $ 724,299 $ — $ 724,299 $ — The following is a description of valuation methodologies used for significant financial instruments measured at fair value on a non-recurring basis. Loans Receivable - The amount of loans individually evaluated for impairment on a non-recurring basis during the six months ended March 31, 2019 and 2018 that were still held in the portfolio as of March 31, 2019 and 2018 was $2.8 million and $4.6 million , respectively. All of these loans were secured by residential real estate and were individually evaluated to determine if the carrying value of the loan was in excess of the fair value of the collateral, less estimated selling costs of 10% . Fair values were estimated through current appraisals. Management does not adjust or apply a discount to the appraised value, except for the estimated sales cost noted above. The primary significant unobservable input for loans individually evaluated for impairment was the appraisal. Fair values of loans individually evaluated for impairment cannot be determined with precision and may not be realized in an actual sale or immediate settlement of the loan and, as such, are classified as Level 3. Based on this evaluation, the Bank charged-off all loss amounts as of March 31, 2019 and 2018 ; therefore, the fair value was equal to the carrying value and there was no ACL related to these loans. OREO - OREO primarily represents real estate acquired as a result of foreclosure or by deed in lieu of foreclosure and is carried at lower of cost or fair value. The fair value for OREO is estimated through current appraisals or listing prices, less estimated selling costs of 10% . Management does not adjust or apply a discount to the appraised value or listing price, except for the estimated sales costs noted above. The primary significant unobservable input for OREO was the appraisal or listing price. Fair values of foreclosed property cannot be determined with precision and may not be realized in an actual sale of the property and, as such, are classified as Level 3. The fair value of OREO measured on a non-recurring basis during the six months ended March 31, 2019 and 2018 that was still held in the portfolio as of March 31, 2019 and 2018 was $582 thousand and $686 thousand , respectively. The carrying value of the properties equaled the fair value of the properties at March 31, 2019 and 2018 . Fair Value Disclosures - The Company determined estimated fair value amounts using available market information and a variety of valuation methodologies as of the dates presented. Considerable judgment is required to interpret market data to develop the estimates of fair value. The estimates presented are not necessarily indicative of amounts the Company would realize from a current market exchange at subsequent dates. The carrying amounts and estimated fair values of the Company's financial instruments by fair value hierarchy, at the dates presented, were as follows: March 31, 2019 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 (Dollars in thousands) Assets: Cash and cash equivalents $ 218,051 $ 218,051 $ 218,051 $ — $ — AFS securities 746,728 746,728 — 746,728 — HTM securities 527,460 526,099 — 526,099 — Loans receivable 7,570,806 7,646,753 — — 7,646,753 FHLB stock 102,631 102,631 102,631 — — Liabilities: Deposits 5,701,111 5,696,333 2,778,862 2,917,471 — FHLB borrowings 2,239,985 2,214,700 100,001 2,114,699 — Other borrowings 100,000 98,843 — 98,843 — Interest rate swaps 11,907 11,907 — 11,907 — September 30, 2018 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 (Dollars in thousands) Assets: Cash and cash equivalents $ 139,055 $ 139,055 $ 139,055 $ — $ — AFS securities 714,614 714,614 — 714,614 — HTM securities 612,318 601,071 — 601,071 — Loans receivable 7,514,485 7,418,026 — — 7,418,026 FHLB stock 99,726 99,726 99,726 — — Interest rate swaps 9,685 9,685 — 9,685 — Liabilities: Deposits 5,603,354 5,569,591 2,666,297 2,903,294 — FHLB borrowings 2,174,981 2,145,477 100,000 2,045,477 — Other borrowings 110,052 109,465 10,503 98,962 — |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 6 Months Ended |
Mar. 31, 2019 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income | ACCUMULATED OTHER COMPREHENSIVE INCOME The following is a summary of changes in the components of AOCI, net of tax, for the periods presented. For the Three Months Ended March 31, 2019 Unrealized Unrealized Gains (Losses) Gains (Losses) on AFS on Cash Flow Total Securities Hedges AOCI (Dollars in thousands) Beginning balance $ 537 $ (2,414 ) $ (1,877 ) Other comprehensive income (loss), before reclassifications 3,061 (6,500 ) (3,439 ) Amount reclassified from AOCI — (100 ) (100 ) Other comprehensive income (loss) 3,061 (6,600 ) (3,539 ) Ending balance $ 3,598 $ (9,014 ) $ (5,416 ) For the Six Months Ended March 31, 2019 Unrealized Unrealized Gains (Losses) Gains (Losses) on AFS on Cash Flow Total Securities Hedges AOCI (Dollars in thousands) Beginning balance $ (2,990 ) $ 7,330 $ 4,340 Other comprehensive income (loss), before reclassifications 6,588 (16,395 ) (9,807 ) Amount reclassified from AOCI — 51 51 Other comprehensive income (loss) 6,588 (16,344 ) (9,756 ) Ending balance $ 3,598 $ (9,014 ) $ (5,416 ) For the Three Months Ended March 31, 2018 Unrealized Unrealized Gains (Losses) Gains (Losses) on AFS on Cash Flow Total Securities Hedges AOCI (Dollars in thousands) Beginning balance $ 2,124 $ 950 $ 3,074 Other comprehensive income (loss), before reclassifications (1,898 ) 3,456 1,558 Amount reclassified from AOCI — (140 ) (140 ) Other comprehensive income (loss) (1,898 ) 3,316 1,418 Reclassification of certain income tax effects related to adoption of ASU 2018-02 461 206 667 Ending balance $ 687 $ 4,472 $ 5,159 For the Six Months Ended March 31, 2018 Unrealized Unrealized Gains (Losses) Gains (Losses) on AFS on Cash Flow Total Securities Hedges AOCI (Dollars in thousands) Beginning balance $ 3,290 $ (372 ) $ 2,918 Other comprehensive income (loss), before reclassifications (3,064 ) 5,052 1,988 Amount reclassified from AOCI — (414 ) (414 ) Other comprehensive income (loss) (3,064 ) 4,638 1,574 Reclassification of certain income tax effects related to adoption of ASU 2018-02 461 206 667 Ending balance $ 687 $ 4,472 $ 5,159 |
Revenue Recognition
Revenue Recognition | 6 Months Ended |
Mar. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | REVENUE RECOGNITION On October 1, 2018, the Company adopted ASU 2014-09, Revenue from Contracts with Customers , and all subsequent ASUs that modified the principles for recognizing revenue. The Company's primary sources of revenue consist of net interest income on financial assets and liabilities, which are not within the scope of the amended ASU. In addition, certain non-interest income revenue streams, such as loan servicing fees, derivatives, and BOLI, are not in-scope of the amended ASU. Based on an assessment of non-interest income revenue streams and a review of the related contracts with customers, the Company concluded the amended ASU did not significantly change the Company's revenue recognition methods. The Company elected to implement the amended ASU using the modified retrospective application with a cumulative adjustment, which increased opening retained earnings at October 1, 2018 by $394 thousand related to contracts that were not complete upon adoption. The amount was related to the change in the recognition of revenue related to certain insurance commissions. Details of the Company's primary types of non-interest income revenue streams by financial statement line reported in the consolidated statements of income that are within the scope of the amended ASU and ASC Topic 606 are below. During the current year six month period , revenue from contracts with customers totaled $8.1 million . Deposit Service Fees Interchange Transaction Fees - Interchange transaction fee income primarily consists of interchange fees earned on a transactional basis through card payment networks. The performance obligation for these types of transactions is satisfied as services are rendered for each transaction and revenue is recognized daily concurrently with the transaction processing services provided to the cardholder. In order to participate in the card payment networks, the Company must pay various transaction related costs established by the networks ("interchange network charges"), including membership fees and a per unit charge for each transaction. The Company determined it is acting as an agent for its debit card customers when they are utilizing the card payment networks; therefore, upon adoption of the amended ASU, interchange transaction fee income is reported net of interchange network charges. Previously, interchange network charges were reported in deposit and loan expense. Interchange network charges totaled $1.7 million and $1.5 million for the six months ended March 31, 2019 and 2018 , respectively. Service Charges on Deposit Accounts - Service charges on deposit accounts consist of account maintenance and transaction-based fees such as overdrafts, insufficient funds, wire transfers and the use of out-of-network ATMs. The Company's performance obligation is satisfied over a period of time, generally a month, for account maintenance and at the time of service for transaction-based fees. Revenue is recognized after the performance obligation is satisfied. Payments are typically collected from the customer's deposit account at the time the transaction is processed and/or at the end of the customer's statement cycle (typically monthly). Other Non-Interest Income Trust Asset Management Income - The Company provides trust asset management services to customers. The Company primarily earns fees for these services over time as the monthly services are provided and the Company assesses revenue at each month end. Fees are charged based on a tiered scale of the market value of the individual trust asset accounts at the end of the month. Insurance Commissions - |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policies) | 6 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation | The consolidated financial statements include the accounts of Capitol Federal® Financial, Inc. (the "Company") and its wholly-owned subsidiary, Capitol Federal Savings Bank (the "Bank"). The Bank has two wholly-owned subsidiaries, Capitol Funds, Inc. and Capital City Investments, Inc. Capitol Funds, Inc. has a wholly-owned subsidiary, Capitol Federal Mortgage Reinsurance Company. Capital City Investments, Inc. is a real estate and investment holding company. All intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. These statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2018 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | Cash, cash equivalents, restricted cash and restricted cash equivalents reported in the statement of cash flows include cash and cash equivalents of $218.1 million and $139.1 million at March 31, 2019 and September 30, 2018 and restricted cash and cash equivalents of $13.4 million at March 31, 2019 , which was included in other assets on the consolidated balance sheet. There was no restricted cash and cash equivalents at September 30, 2018 |
Net Presentation of Cash Flows Related to Borrowings | At times, the Bank enters into certain FHLB advances with contractual maturities of 90 days or less. Cash flows related to these advances are reported on a net basis in the consolidated statements of cash flows. |
Recent Accounting Pronouncements | In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-09, Revenue from Contracts with Customers. The ASU, as amended, implements a common revenue standard that clarifies the principles for recognizing revenue included in Accounting Standards Codification ("ASC") Topic 606. The core principle of the amended guidance is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The majority of the Company's revenue is composed of interest income from loans and securities which are explicitly excluded from the amended ASU. The Company elected to implement the amended ASU using the modified retrospective application with a cumulative adjustment to opening retained earnings at October 1, 2018. Upon adoption of the amended ASU, the Company recorded a cumulative adjustment, which increased opening retained earnings by $394 thousand related to contracts that were not complete upon adoption. The amount was related to the change in the recognition of revenue related to certain insurance commissions. Additionally, effective October 1, 2018, interchange network charges are reported as a reduction in deposit service fees. Previously, these charges were reported as expense in deposit and loan transaction costs in the consolidated statements of income. The Company concluded the ASU did not significantly change the Company's revenue recognition methods. This ASU did not have a material impact on the Company's consolidated financial condition or results of operations at the time of adoption. The new disclosure requirements of the ASU are included in Note 8. Revenue Recognition. In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities . The ASU supersedes certain accounting guidance related to equity securities with readily determinable fair values and the related impairment assessment. An entity's equity investments that are accounted for under the equity method of accounting or result in consolidation of an investee are not included within the scope of this ASU. The ASU requires public business entities to utilize the exit price notion when determining fair value for financial instruments measured at amortized cost on the balance sheet. The ASU also requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or in the notes to the financial statements. ASU 2016-01 became effective for the Company on October 1, 2018. The adoption of this ASU did not have a material impact on the Company's consolidated financial condition or results of operations. The new disclosure requirements of the ASU are included in Note 6. Fair Value of Financial Instruments. In February 2016, the FASB issued ASU 2016-02, Leases . The ASU, as amended, revises lease accounting guidance by requiring that lessees recognize the assets and liabilities arising from leases on the balance sheet. Additionally, the ASU requires entities to disclose both quantitative and qualitative information regarding their leasing activities. The accounting applied by a lessor is largely unchanged from that applied under the previous guidance. ASU 2016-02 will become effective for the Company on Oc tober 1, 2019. In July 2018, the FASB issued ASU 2018-11, Leases , which provides entities with relief from the costs of implementation by allowing the option to not restate comparative periods as part of the transition. The Company expects to select the transition relief provisions. The Company has completed its development of a lease inventory and an internal lease data collection, organization, and computing platform for compliance with this ASU. The Company is continuing to evaluate the impact this ASU may have on the Company's consolidated financial condition and results of operations. The Company expects to recognize right-of-use assets and lease liabilities fo r substantially all of its operating lease commitments based on the present value of the minimum commitments under non-cancellable leases as of the date of adoption. The Company is continuing to evaluate the impact this ASU may have to the Company's disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments . The ASU, as amended, replaces the incurred loss impairment methodology in current GAAP, which requires credit losses to be recognized when it is probable that a loss has been incurred, with a new impairment methodology. The new impairment methodology requires an entity to measure, at each reporting date, the expected credit losses of financial assets not measured at fair value, such as loans, HTM debt securities, and loan commitments, over their contractual lives. Under the new impairment methodology, expected credit losses will be measured at each reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Additionally, the ASU amends the current credit loss measurements for AFS debt securities. Credit losses related to AFS debt securities will be recorded through the ACL rather than as a direct write-down as per current GAAP. The ASU also requires enhanced disclosures related to credit quality and significant estimates and judgments used by management when estimating credit losses. The ASU will become effective for the Company on October 1, 2020. The Company has selected a third-party vendor solution to assist in the application and implementation of the new accounting guidance and will begin loading historical loan and loss data into the third-party software during the third quarter of fiscal year 2019. While we are currently unable to reasonably estimate the impact of adopting this ASU, we expect the impact of adoption will be influenced by the composition of our loan and securities portfolios as well as the economic conditions and forecasts at the time of adoption. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows: Restricted Cash (a consensus of the FASB Emerging Issues Task Force) . The ASU addresses diversity in the classification and presentation of changes in restricted cash and cash equivalents on the statement of cash flows. The ASU requires that amounts described as restricted cash and cash equivalents be included with cash and cash equivalents when reconciling the beginning and ending amounts presented on the statement of cash flows, requires disclosures on the nature of restrictions on cash and cash equivalents, and the amount and financial statement line presentation of restricted cash and cash equivalents. The Company adopted this ASU on October 1, 2018 and it did not have a material impact on the Company's consolidated financial condition or results of operations at the time of adoption. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities . The ASU amends the hedge accounting recognition and presentation requirements in current GAAP. The purpose of the ASU was to improve transparency of hedging relationships in the financial statements and to reduce the complexity of applying hedge accounting for preparers. The ASU will become effective for the Company on October 1, 2019. The Company is currently evaluating the effect of the ASU on the Company's consolidated financial condition, results of operations and disclosures. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement: Disclosure Framework - Changes to the Disclosures Requirements for Fair Value Measurement . This ASU eliminates, modifies and adds certain disclosure requirements for fair value measurements. The ASU adds disclosure requirements for the changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The effective date of this ASU for the Company is October 1, 2020, with early adoption permitted. Entities are allowed to elect early adoption of the eliminated or modified disclosure requirements and delay adoption of the new disclosure requirements until their effective date. Since this ASU only requires disclosure changes, it will not have a significant impact on the Company's consolidated financial condition and results of operations. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software: Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Schedule Of Earnings Per Share, Basic And Diluted | Shares acquired by the ESOP are not included in basic average shares outstanding until the shares are committed for allocation or vested to an employee's individual account. Unvested shares awarded pursuant to the Company's restricted stock benefit 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. For the Three Months Ended For the Six Months Ended March 31, March 31, 2019 2018 2019 2018 (Dollars in thousands, except per share amounts) Net income $ 24,554 $ 23,330 $ 48,937 $ 55,166 Income allocated to participating securities (10 ) (10 ) (19 ) (23 ) Net income available to common stockholders $ 24,544 $ 23,320 $ 48,918 $ 55,143 Average common shares outstanding 137,593,062 134,386,469 137,571,533 134,379,424 Average committed ESOP shares outstanding 41,758 41,758 20,876 20,876 Total basic average common shares outstanding 137,634,820 134,428,227 137,592,409 134,400,300 Effect of dilutive stock options 55,897 47,001 48,717 70,959 Total diluted average common shares outstanding 137,690,717 134,475,228 137,641,126 134,471,259 Net EPS: Basic $ 0.18 $ 0.17 $ 0.36 $ 0.41 Diluted $ 0.18 $ 0.17 $ 0.36 $ 0.41 Antidilutive stock options, excluded from the diluted average common shares outstanding calculation 494,395 598,195 529,261 527,642 |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Marketable Securities [Abstract] | |
Amortized Cost, Estimated Fair Value, And Gross Unrealized Gains And Losses Of AFS Securities | The following tables reflect the amortized cost, estimated fair value, and gross unrealized gains and losses of AFS and HTM securities at the dates presented. The majority of the MBS and investment securities portfolios are composed of securities issued by United States government-sponsored enterprises ("GSEs"). March 31, 2019 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) AFS: MBS $ 469,455 $ 5,995 $ 606 $ 474,844 GSE debentures 268,375 274 908 267,741 Municipal bonds 4,145 3 5 4,143 $ 741,975 $ 6,272 $ 1,519 $ 746,728 HTM: MBS $ 510,450 $ 5,107 $ 6,461 $ 509,096 Municipal bonds 17,010 19 26 17,003 $ 527,460 $ 5,126 $ 6,487 $ 526,099 September 30, 2018 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) AFS: MBS $ 445,883 $ 3,270 $ 4,063 $ 445,090 GSE debentures 268,525 30 3,157 265,398 Municipal bonds 4,156 — 30 4,126 $ 718,564 $ 3,300 $ 7,250 $ 714,614 HTM: MBS $ 591,900 $ 4,514 $ 15,589 $ 580,825 Municipal bonds 20,418 — 172 20,246 $ 612,318 $ 4,514 $ 15,761 $ 601,071 |
Amortized Cost, Estimated Fair Value, And Gross Unrealized Gains And Losses Of HTM Securities | The following tables reflect the amortized cost, estimated fair value, and gross unrealized gains and losses of AFS and HTM securities at the dates presented. The majority of the MBS and investment securities portfolios are composed of securities issued by United States government-sponsored enterprises ("GSEs"). March 31, 2019 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) AFS: MBS $ 469,455 $ 5,995 $ 606 $ 474,844 GSE debentures 268,375 274 908 267,741 Municipal bonds 4,145 3 5 4,143 $ 741,975 $ 6,272 $ 1,519 $ 746,728 HTM: MBS $ 510,450 $ 5,107 $ 6,461 $ 509,096 Municipal bonds 17,010 19 26 17,003 $ 527,460 $ 5,126 $ 6,487 $ 526,099 September 30, 2018 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) AFS: MBS $ 445,883 $ 3,270 $ 4,063 $ 445,090 GSE debentures 268,525 30 3,157 265,398 Municipal bonds 4,156 — 30 4,126 $ 718,564 $ 3,300 $ 7,250 $ 714,614 HTM: MBS $ 591,900 $ 4,514 $ 15,589 $ 580,825 Municipal bonds 20,418 — 172 20,246 $ 612,318 $ 4,514 $ 15,761 $ 601,071 |
Schedule Of Estimated Fair Value And Gross Unrealized Losses Of Securities In Continuous Unrealized Loss Position | The following tables summarize the estimated fair value and gross unrealized losses of those securities on which an unrealized loss at the dates presented was reported and the continuous unrealized loss position for less than 12 months and equal to or greater than 12 months as of the dates presented. March 31, 2019 Less Than 12 Months Equal to or Greater Than 12 Months Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses (Dollars in thousands) AFS: MBS $ 11,197 $ 55 $ 67,001 $ 551 GSE debentures 27,776 3 99,077 905 Municipal bonds — — 1,510 5 $ 38,973 $ 58 $ 167,588 $ 1,461 HTM: MBS $ 1,551 $ 2 $ 331,809 $ 6,459 Municipal bonds 330 2 7,977 24 $ 1,881 $ 4 $ 339,786 $ 6,483 September 30, 2018 Less Than 12 Months Equal to or Greater Than 12 Months Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses (Dollars in thousands) AFS: MBS $ 324,563 $ 3,797 $ 8,129 $ 266 GSE debentures 101,735 1,231 148,049 1,926 Municipal bonds 4,126 30 — — $ 430,424 $ 5,058 $ 156,178 $ 2,192 HTM: MBS $ 58,233 $ 904 $ 362,806 $ 14,685 Municipal bonds 18,345 171 685 1 $ 76,578 $ 1,075 $ 363,491 $ 14,686 |
Schedule Of Contractual Maturities | The amortized cost and estimated fair value of debt securities as of March 31, 2019 , by contractual maturity, are shown below. Actual principal repayments may differ from contractual maturities due to prepayment or early call privileges by the issuer. In the case of MBS, borrowers on the underlying loans generally have the right to prepay their loans without prepayment penalty. For this reason, MBS are not included in the maturity categories. AFS HTM Amortized Estimated Amortized Estimated Cost Fair Value Cost Fair Value (Dollars in thousands) One year or less $ 5,400 $ 5,398 $ 3,842 $ 3,837 One year through five years 267,120 266,486 13,168 13,166 272,520 271,884 17,010 17,003 MBS 469,455 474,844 510,450 509,096 $ 741,975 $ 746,728 $ 527,460 $ 526,099 |
Schedule Of Taxable And Non-taxable Components Of Interest Income | The following table presents the taxable and non-taxable components of interest income on investment securities for the periods presented. For the Three Months Ended For the Six Months Ended March 31, March 31, 2019 2018 2019 2018 (Dollars in thousands) Taxable $ 1,419 $ 998 $ 2,767 $ 1,878 Non-taxable 86 96 179 210 $ 1,505 $ 1,094 $ 2,946 $ 2,088 |
Schedule Of Carrying Value Of Securities Pledged As Collateral | The following table summarizes the carrying value of securities pledged as collateral for the obligations indicated below as of the dates presented. March 31, 2019 September 30, 2018 (Dollars in thousands) Public unit deposits $ 467,812 $ 515,553 Repurchase agreements 107,862 108,360 Federal Reserve Bank of Kansas City ("FRB of Kansas City") 7,979 9,529 $ 583,653 $ 633,442 |
Loans Receivable And Allowanc_2
Loans Receivable And Allowance For Credit Losses (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Summary of Loans Receivable | Loans receivable, net at the dates presented is summarized as follows: March 31, 2019 September 30, 2018 (Dollars in thousands) One- to four-family: Originated $ 3,922,565 $ 3,965,692 Correspondent purchased 2,470,619 2,505,987 Bulk purchased 272,575 293,607 Construction 33,525 33,149 Total 6,699,284 6,798,435 Commercial: Commercial real estate 547,202 426,243 Commercial and industrial 73,852 62,869 Construction 108,649 80,498 Total 729,703 569,610 Consumer: Home equity 125,176 129,588 Other 9,913 10,012 Total 135,089 139,600 Total loans receivable 7,564,076 7,507,645 Less: ACL 8,619 8,463 Discounts/unearned loan fees 32,582 33,933 Premiums/deferred costs (47,931 ) (49,236 ) $ 7,570,806 $ 7,514,485 |
Recorded Investment in Loans, Past Due | The following tables present the recorded investment, by class, in loans 30 to 89 days delinquent, loans 90 or more days delinquent or in foreclosure, total delinquent loans, current loans, and total recorded investment at the dates presented. The recorded investment in loans is defined as the unpaid principal balance of a loan, less charge-offs and inclusive of unearned loan fees and deferred costs. At March 31, 2019 and September 30, 2018 , all loans 90 or more days delinquent were on nonaccrual status. March 31, 2019 90 or More Days Total Total 30 to 89 Days Delinquent or Delinquent Current Recorded Delinquent in Foreclosure Loans Loans Investment (Dollars in thousands) One- to four-family: Originated $ 8,665 $ 5,158 $ 13,823 $ 3,927,534 $ 3,941,357 Correspondent purchased 4,186 932 5,118 2,499,826 2,504,944 Bulk purchased 2,764 2,799 5,563 268,267 273,830 Commercial: Commercial real estate 64 — 64 651,373 651,437 Commercial and industrial 1,303 — 1,303 71,741 73,044 Consumer: Home equity 430 514 944 123,999 124,943 Other 51 14 65 9,805 9,870 $ 17,463 $ 9,417 $ 26,880 $ 7,552,545 $ 7,579,425 September 30, 2018 90 or More Days Total Total 30 to 89 Days Delinquent or Delinquent Current Recorded Delinquent in Foreclosure Loans Loans Investment (Dollars in thousands) One- to four-family: Originated $ 10,613 $ 5,025 $ 15,638 $ 3,968,362 $ 3,984,000 Correspondent purchased 3,846 458 4,304 2,536,913 2,541,217 Bulk purchased 3,521 3,063 6,584 288,386 294,970 Commercial: Commercial real estate 76 — 76 501,932 502,008 Commercial and industrial 250 — 250 61,255 61,505 Consumer: Home equity 472 521 993 128,351 129,344 Other 61 10 71 9,833 9,904 $ 18,839 $ 9,077 $ 27,916 $ 7,495,032 $ 7,522,948 |
Recorded Investment in Loans, Nonaccrual | The following table presents the recorded investment, by class, in loans classified as nonaccrual at the dates presented. March 31, 2019 September 30, 2018 (Dollars in thousands) One- to four-family: Originated $ 6,872 $ 6,503 Correspondent purchased 932 863 Bulk purchased 2,799 3,063 Commercial: Commercial real estate 1,288 — Commercial and industrial — — Consumer: Home equity 517 530 Other 20 10 $ 12,428 $ 10,969 |
Recorded Investment in Classified Loans | The following table sets forth the recorded investment in loans classified as special mention or substandard, by class, at the dates presented. Special mention and substandard loans are included in the ACL formula analysis model if the loans are not individually evaluated for loss. Loans classified as doubtful or loss are individually evaluated for loss. At the dates presented, there were no loans classified as doubtful, and all loans classified as loss were fully charged-off. March 31, 2019 September 30, 2018 Special Mention Substandard Special Mention Substandard (Dollars in thousands) One- to four-family: Originated $ 9,522 $ 19,247 $ 8,660 $ 22,409 Correspondent purchased 2,312 3,101 997 3,126 Bulk purchased 69 6,208 — 7,195 Commercial: Commercial real estate 3,675 1,288 1,251 1,368 Commercial and industrial 1,641 — 1,126 — Consumer: Home equity 110 834 298 894 Other 15 3 — 10 $ 17,344 $ 30,681 $ 12,332 $ 35,002 |
Weighted Average Loan-to-Value and Credit Score Information | The following table shows the weighted average credit score and weighted average LTV for one- to four-family loans and consumer home equity loans at the dates presented. Borrower credit scores are intended to provide an indication as to the likelihood that a borrower will repay their debts. Credit scores are updated at least semiannually, with the last update in March 2019, from a nationally recognized consumer rating agency. The LTV ratios provide an estimate of the extent to which the Bank may incur a loss on any given loan that may go into foreclosure. The consumer - home equity LTV does not take into account the first lien position, if applicable. The LTV ratios were based on the current loan balance and either the lesser of the purchase price or original appraisal, or the most recent Bank appraisal, if available. In most cases, the most recent appraisal was obtained at the time of origination. March 31, 2019 September 30, 2018 Credit Score LTV Credit Score LTV One- to four-family - originated 768 62 % 767 63 % One- to four-family - correspondent 764 66 764 67 One- to four-family - bulk purchased 761 61 758 62 Consumer - home equity 754 21 750 22 766 63 765 63 |
Troubled Debt Restructurings on Financing Receivables | The following tables present the recorded investment prior to restructuring and immediately after restructuring in all loans restructured during the periods presented. These tables do not reflect the recorded investment at the end of the periods indicated. Any increase in the recorded investment at the time of the restructuring was generally due to the capitalization of delinquent interest and/or escrow balances. For the Three Months Ended For the Six Months Ended March 31, 2019 March 31, 2019 Number Pre- Post- Number Pre- Post- of Restructured Restructured of Restructured Restructured Contracts Outstanding Outstanding Contracts Outstanding Outstanding (Dollars in thousands) One- to four-family: Originated — $ — $ — 1 $ 117 $ 117 Correspondent purchased — — — — — — Bulk purchased 1 308 308 1 308 308 Commercial: Commercial real estate — — — — — — Commercial and industrial — — — — — — Consumer: Home equity — — — — — — Other — — — — — — 1 $ 308 $ 308 2 $ 425 $ 425 For the Three Months Ended For the Six Months Ended March 31, 2018 March 31, 2018 Number Pre- Post- Number Pre- Post- of Restructured Restructured of Restructured Restructured Contracts Outstanding Outstanding Contracts Outstanding Outstanding (Dollars in thousands) One- to four-family: Originated 2 $ 93 $ 94 3 $ 167 $ 176 Correspondent purchased — — — — — — Bulk purchased — — — — — — Commercial: Commercial real estate — — — — — — Commercial and industrial — — — — — — Consumer: Home equity — — — — — — Other — — — — — — 2 $ 93 $ 94 3 $ 167 $ 176 The following table provides information on TDRs that became delinquent during the periods presented within 12 months after being restructured. For the Three Months Ended For the Six Months Ended March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Number of Recorded Number of Recorded Number of Recorded Number of Recorded Contracts Investment Contracts Investment Contracts Investment Contracts Investment (Dollars in thousands) One- to four-family: Originated 1 $ 45 7 $ 434 1 $ 45 19 $ 1,254 Correspondent purchased — — 1 124 — — 1 124 Bulk purchased — — — — — — 3 1,040 Commercial: Commercial real estate — — — — — — — — Commercial and industrial — — — — — — — — Consumer: Home equity — — — — — — 4 133 Other — — — — — — — — 1 $ 45 8 $ 558 1 $ 45 27 $ 2,551 |
Impaired Loans by Class | The following information pertains to impaired loans, by class, as of the dates presented. All impaired loans were individually evaluated for loss and all losses were charged-off, resulting in no related ACL for these loans. March 31, 2019 September 30, 2018 Unpaid Unpaid Recorded Principal Recorded Principal Investment Balance Investment Balance (Dollars in thousands) One- to four-family: Originated $ 15,299 $ 15,826 $ 18,857 $ 19,388 Correspondent purchased 2,170 2,274 2,668 2,768 Bulk purchased 5,131 5,849 6,011 6,976 Commercial: Commercial real estate — — — — Commercial and industrial — — — — Consumer: Home equity 398 548 504 720 Other — 30 — 25 $ 22,998 $ 24,527 $ 28,040 $ 29,877 For the Three Months Ended For the Six Months Ended March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Average Interest Average Interest Average Interest Average Interest Recorded Income Recorded Income Recorded Income Recorded Income Investment Recognized Investment Recognized Investment Recognized Investment Recognized (Dollars in thousands) One- to four-family: Originated $ 15,928 $ 167 $ 25,398 $ 251 16,980 352 26,896 548 Correspondent purchased 2,177 23 3,362 31 2,251 45 3,530 64 Bulk purchased 5,230 43 6,319 42 5,453 86 6,761 95 Commercial: Commercial real estate — — — — — — — — Commercial and industrial — — — — — — — — Consumer: Home equity 436 7 606 9 461 16 637 19 Other — — — — — — — — $ 23,771 $ 240 $ 35,685 $ 333 $ 25,145 $ 499 $ 37,824 $ 726 |
Allowance for Credit Losses | The following is a summary of the loan portfolio and related ACL balances, at the dates presented, by loan portfolio segment disaggregated by the Company's impairment method. There was no ACL for loans individually evaluated for impairment at either date as all losses were charged-off. March 31, 2019 One- to Four-Family Correspondent Bulk Originated Purchased Purchased Total Commercial Consumer Total (Dollars in thousands) Recorded investment in loans collectively evaluated for impairment $ 3,926,057 $ 2,502,775 $ 268,699 $ 6,697,531 $ 724,481 $ 134,415 $ 7,556,427 Recorded investment in loans individually evaluated for impairment 15,300 2,169 5,131 22,600 — 398 22,998 $ 3,941,357 $ 2,504,944 $ 273,830 $ 6,720,131 $ 724,481 $ 134,813 $ 7,579,425 ACL for loans collectively evaluated for impairment $ 2,173 $ 1,392 $ 802 $ 4,367 $ 4,088 $ 164 $ 8,619 September 30, 2018 One- to Four-Family Correspondent Bulk Originated Purchased Purchased Total Commercial Consumer Total (Dollars in thousands) Recorded investment in loans collectively evaluated for impairment $ 3,965,143 $ 2,538,549 $ 288,959 $ 6,792,651 $ 563,513 $ 138,744 $ 7,494,908 Recorded investment in loans individually evaluated for impairment 18,857 2,668 6,011 27,536 — 504 28,040 $ 3,984,000 $ 2,541,217 $ 294,970 $ 6,820,187 $ 563,513 $ 139,248 $ 7,522,948 ACL for loans collectively evaluated for impairment $ 2,953 $ 1,861 $ 925 $ 5,739 $ 2,556 $ 168 $ 8,463 For the Three Months Ended March 31, 2019 One- to Four-Family Correspondent Bulk Originated Purchased Purchased Total Commercial Consumer Total (Dollars in thousands) Beginning balance $ 2,761 $ 1,748 $ 836 $ 5,345 $ 3,034 $ 179 $ 8,558 Charge-offs (10 ) — — (10 ) — (2 ) (12 ) Recoveries 2 — 17 19 25 29 73 Provision for credit losses (580 ) (356 ) (51 ) (987 ) 1,029 (42 ) — Ending balance $ 2,173 $ 1,392 $ 802 $ 4,367 $ 4,088 $ 164 $ 8,619 For the Six Months Ended March 31, 2019 One- to Four-Family Correspondent Bulk Originated Purchased Purchased Total Commercial Consumer Total (Dollars in thousands) Beginning balance $ 2,953 $ 1,861 $ 925 $ 5,739 $ 2,556 $ 168 $ 8,463 Charge-offs (30 ) — (26 ) (56 ) — (12 ) (68 ) Recoveries 5 — 106 111 27 86 224 Provision for credit losses (755 ) (469 ) (203 ) (1,427 ) 1,505 (78 ) — Ending balance $ 2,173 $ 1,392 $ 802 $ 4,367 $ 4,088 $ 164 $ 8,619 For the Three Months Ended March 31, 2018 One- to Four-Family Correspondent Bulk Originated Purchased Purchased Total Commercial Consumer Total (Dollars in thousands) Beginning balance $ 3,115 $ 1,902 $ 1,000 $ 6,017 $ 2,157 $ 196 $ 8,370 Charge-offs (68 ) (128 ) — (196 ) — (4 ) (200 ) Recoveries 17 — 196 213 — 7 220 Provision for credit losses 92 260 (196 ) 156 (119 ) (37 ) — Ending balance $ 3,156 $ 2,034 $ 1,000 $ 6,190 $ 2,038 $ 162 $ 8,390 For the Six Months Ended March 31, 2018 One- to Four-Family Correspondent Bulk Originated Purchased Purchased Total Commercial Consumer Total (Dollars in thousands) Beginning balance $ 3,173 $ 1,922 $ 1,000 $ 6,095 $ 2,112 $ 191 $ 8,398 Charge-offs (71 ) (128 ) — (199 ) — (35 ) (234 ) Recoveries 17 — 196 213 — 13 226 Provision for credit losses 37 240 (196 ) 81 (74 ) (7 ) — Ending balance $ 3,156 $ 2,034 $ 1,000 $ 6,190 $ 2,038 $ 162 $ 8,390 |
Fair Value Of Financial Instr_2
Fair Value Of Financial Instruments (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Schedule Of Fair Value Assets Measured On A Recurring Basis | The following tables provide the level of valuation assumption used to determine the carrying value of the Company's financial instruments measured at fair value on a recurring basis at the dates presented. The Company did not have any Level 3 financial instruments measured at fair value on a recurring basis at March 31, 2019 or September 30, 2018 . The Company did not have any liabilities measured at fair value at September 30, 2018. March 31, 2019 Quoted Prices Significant Significant in Active Markets Other Observable Unobservable Carrying for Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: AFS Securities: MBS $ 474,844 $ — $ 474,844 $ — GSE debentures 267,741 — 267,741 — Municipal bonds 4,143 — 4,143 — 746,728 — 746,728 — Interest rate swaps — — — — $ 746,728 $ — $ 746,728 $ — Liabilities: Interest rate swaps $ 11,907 $ — $ 11,907 $ — September 30, 2018 Quoted Prices Significant Significant in Active Markets Other Observable Unobservable Carrying for Identical Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: AFS Securities: MBS $ 445,090 $ — $ 445,090 $ — GSE debentures 265,398 — 265,398 — Municipal bonds 4,126 — 4,126 — 714,614 — 714,614 — Interest rate swaps 9,685 — 9,685 — $ 724,299 $ — $ 724,299 $ — |
Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments | The carrying amounts and estimated fair values of the Company's financial instruments by fair value hierarchy, at the dates presented, were as follows: March 31, 2019 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 (Dollars in thousands) Assets: Cash and cash equivalents $ 218,051 $ 218,051 $ 218,051 $ — $ — AFS securities 746,728 746,728 — 746,728 — HTM securities 527,460 526,099 — 526,099 — Loans receivable 7,570,806 7,646,753 — — 7,646,753 FHLB stock 102,631 102,631 102,631 — — Liabilities: Deposits 5,701,111 5,696,333 2,778,862 2,917,471 — FHLB borrowings 2,239,985 2,214,700 100,001 2,114,699 — Other borrowings 100,000 98,843 — 98,843 — Interest rate swaps 11,907 11,907 — 11,907 — September 30, 2018 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 (Dollars in thousands) Assets: Cash and cash equivalents $ 139,055 $ 139,055 $ 139,055 $ — $ — AFS securities 714,614 714,614 — 714,614 — HTM securities 612,318 601,071 — 601,071 — Loans receivable 7,514,485 7,418,026 — — 7,418,026 FHLB stock 99,726 99,726 99,726 — — Interest rate swaps 9,685 9,685 — 9,685 — Liabilities: Deposits 5,603,354 5,569,591 2,666,297 2,903,294 — FHLB borrowings 2,174,981 2,145,477 100,000 2,045,477 — Other borrowings 110,052 109,465 10,503 98,962 — |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following is a summary of changes in the components of AOCI, net of tax, for the periods presented. For the Three Months Ended March 31, 2019 Unrealized Unrealized Gains (Losses) Gains (Losses) on AFS on Cash Flow Total Securities Hedges AOCI (Dollars in thousands) Beginning balance $ 537 $ (2,414 ) $ (1,877 ) Other comprehensive income (loss), before reclassifications 3,061 (6,500 ) (3,439 ) Amount reclassified from AOCI — (100 ) (100 ) Other comprehensive income (loss) 3,061 (6,600 ) (3,539 ) Ending balance $ 3,598 $ (9,014 ) $ (5,416 ) For the Six Months Ended March 31, 2019 Unrealized Unrealized Gains (Losses) Gains (Losses) on AFS on Cash Flow Total Securities Hedges AOCI (Dollars in thousands) Beginning balance $ (2,990 ) $ 7,330 $ 4,340 Other comprehensive income (loss), before reclassifications 6,588 (16,395 ) (9,807 ) Amount reclassified from AOCI — 51 51 Other comprehensive income (loss) 6,588 (16,344 ) (9,756 ) Ending balance $ 3,598 $ (9,014 ) $ (5,416 ) For the Three Months Ended March 31, 2018 Unrealized Unrealized Gains (Losses) Gains (Losses) on AFS on Cash Flow Total Securities Hedges AOCI (Dollars in thousands) Beginning balance $ 2,124 $ 950 $ 3,074 Other comprehensive income (loss), before reclassifications (1,898 ) 3,456 1,558 Amount reclassified from AOCI — (140 ) (140 ) Other comprehensive income (loss) (1,898 ) 3,316 1,418 Reclassification of certain income tax effects related to adoption of ASU 2018-02 461 206 667 Ending balance $ 687 $ 4,472 $ 5,159 For the Six Months Ended March 31, 2018 Unrealized Unrealized Gains (Losses) Gains (Losses) on AFS on Cash Flow Total Securities Hedges AOCI (Dollars in thousands) Beginning balance $ 3,290 $ (372 ) $ 2,918 Other comprehensive income (loss), before reclassifications (3,064 ) 5,052 1,988 Amount reclassified from AOCI — (414 ) (414 ) Other comprehensive income (loss) (3,064 ) 4,638 1,574 Reclassification of certain income tax effects related to adoption of ASU 2018-02 461 206 667 Ending balance $ 687 $ 4,472 $ 5,159 |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2019 | Sep. 30, 2018 | |
Accounting Policies [Abstract] | ||||
Cash and cash equivalents | $ 218,051 | $ 139,055 | ||
Restricted cash and cash equivalents | $ 13,400 | $ 0 | ||
Restricted cash and cash equivalents, balance sheet location | us-gaap:OtherAssets | |||
Cumulative effect of adopting ASU 2014-09 | $ 394 | $ 0 | $ 394 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2019 | Mar. 31, 2018 | |
Earnings Per Share | ||||||
Net income | $ 24,554 | $ 24,383 | $ 23,330 | $ 31,836 | $ 48,937 | $ 55,166 |
Income allocated to participating securities | (10) | (10) | (19) | (23) | ||
Net income available to common stockholders | $ 24,544 | $ 23,320 | $ 48,918 | $ 55,143 | ||
Total basic average common shares outstanding | 137,634,820 | 134,428,227 | 137,592,409 | 134,400,300 | ||
Effect of dilutive stock options | 55,897 | 47,001 | 48,717 | 70,959 | ||
Total diluted average common shares outstanding | 137,690,717 | 134,475,228 | 137,641,126 | 134,471,259 | ||
Net EPS: | ||||||
Basic | $ 0.18 | $ 0.17 | $ 0.36 | $ 0.41 | ||
Diluted | $ 0.18 | $ 0.17 | $ 0.36 | $ 0.41 | ||
Antidilutive stock options, excluded from the diluted average common shares outstanding calculation | 494,395 | 598,195 | 529,261 | 527,642 | ||
Average Common Shares Outstanding [Member] | ||||||
Earnings Per Share | ||||||
Total basic average common shares outstanding | 137,593,062 | 134,386,469 | 137,571,533 | 134,379,424 | ||
Average Committed ESOP Shares Outstanding [Member] | ||||||
Earnings Per Share | ||||||
Total basic average common shares outstanding | 41,758 | 41,758 | 20,876 | 20,876 |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Sep. 30, 2018 | |
Marketable Securities [Abstract] | ||
Other than temporary impairments, amount | $ 0 | $ 0 |
Securities (Amortized Cost, Est
Securities (Amortized Cost, Estimated Fair Value, and Gross Unrealized Gains and Losses of AFS and HTM Securities) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $ 741,975 | $ 718,564 |
Available-for-sale Securities, Gross Unrealized Gains | 6,272 | 3,300 |
Available-for-sale Securities, Gross Unrealized Losses | 1,519 | 7,250 |
Available-for-sale Securities, Estimated Fair Value | 746,728 | 714,614 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost | 527,460 | 612,318 |
Held-to-maturity Securities, Gross Unrealized Gains | 5,126 | 4,514 |
Held-to-maturity Securities, Gross Unrealized Losses | 6,487 | 15,761 |
Held-to-maturity securities, Estimated Fair Value | 526,099 | 601,071 |
MBS [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 469,455 | 445,883 |
Available-for-sale Securities, Gross Unrealized Gains | 5,995 | 3,270 |
Available-for-sale Securities, Gross Unrealized Losses | 606 | 4,063 |
Available-for-sale Securities, Estimated Fair Value | 474,844 | 445,090 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost | 510,450 | 591,900 |
Held-to-maturity Securities, Gross Unrealized Gains | 5,107 | 4,514 |
Held-to-maturity Securities, Gross Unrealized Losses | 6,461 | 15,589 |
Held-to-maturity securities, Estimated Fair Value | 509,096 | 580,825 |
GSE Debentures [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 268,375 | 268,525 |
Available-for-sale Securities, Gross Unrealized Gains | 274 | 30 |
Available-for-sale Securities, Gross Unrealized Losses | 908 | 3,157 |
Available-for-sale Securities, Estimated Fair Value | 267,741 | 265,398 |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 4,145 | 4,156 |
Available-for-sale Securities, Gross Unrealized Gains | 3 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 5 | 30 |
Available-for-sale Securities, Estimated Fair Value | 4,143 | 4,126 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost | 17,010 | 20,418 |
Held-to-maturity Securities, Gross Unrealized Gains | 19 | 0 |
Held-to-maturity Securities, Gross Unrealized Losses | 26 | 172 |
Held-to-maturity securities, Estimated Fair Value | $ 17,003 | $ 20,246 |
Securities (Schedule Of Estimat
Securities (Schedule Of Estimated Fair Value And Gross Unrealized Losses Of Securities In Continuous Unrealized Loss Position) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | $ 38,973 | $ 430,424 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 58 | 5,058 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 167,588 | 156,178 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 1,461 | 2,192 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 1,881 | 76,578 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 4 | 1,075 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 339,786 | 363,491 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 6,483 | 14,686 |
MBS [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 11,197 | 324,563 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 55 | 3,797 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 67,001 | 8,129 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 551 | 266 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 1,551 | 58,233 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 2 | 904 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 331,809 | 362,806 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 6,459 | 14,685 |
GSE Debentures [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 27,776 | 101,735 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 3 | 1,231 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 99,077 | 148,049 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 905 | 1,926 |
Municipal Bonds [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 0 | 4,126 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 0 | 30 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 1,510 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 5 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 330 | 18,345 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 2 | 171 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 7,977 | 685 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | $ 24 | $ 1 |
Securities (Schedule Of Contrac
Securities (Schedule Of Contractual Maturities) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Investment Holdings [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $ 741,975 | $ 718,564 |
Available-for-sale Securities, Estimated Fair Value | 746,728 | 714,614 |
Held-to-maturity Securities, Amortized Cost | 527,460 | 612,318 |
Held-to-maturity Securities, Estimated Fair Value | 526,099 | 601,071 |
Debt Securities [Member] | ||
Investment Holdings [Line Items] | ||
Available-for-sale Securities, One year or less, Amortized Cost | 5,400 | |
Available-for-sale Securities, One year through five years, Amortized Cost | 267,120 | |
Available-for-sale Securities, Amortized Cost | 272,520 | |
Available-for-sale Securities, One year or less, Estimated Fair Value | 5,398 | |
Available-for-sale Securities, One year through five years, Estimated Fair Value | 266,486 | |
Available-for-sale Securities, Estimated Fair Value | 271,884 | |
Held-to-maturity Securities, One year or less, Amortized Cost | 3,842 | |
Held-to-maturity Securities, One year through five years, Amortized Cost | 13,168 | |
Held-to-maturity Securities, Amortized Cost | 17,010 | |
Held-to-maturity Securities, One year or less, Estimated Fair Value | 3,837 | |
Held-to-maturity Securities, One year through five years, Estimated Fair Value | 13,166 | |
Held-to-maturity Securities, Estimated Fair Value | 17,003 | |
MBS [Member] | ||
Investment Holdings [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 469,455 | 445,883 |
Available-for-sale Securities, Estimated Fair Value | 474,844 | 445,090 |
Held-to-maturity Securities, Amortized Cost | 510,450 | 591,900 |
Held-to-maturity Securities, Estimated Fair Value | $ 509,096 | $ 580,825 |
Securities (Schedule Of Taxable
Securities (Schedule Of Taxable And Non-taxable Components Of Interest Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Marketable Securities [Abstract] | ||||
Taxable | $ 1,419 | $ 998 | $ 2,767 | $ 1,878 |
Non-taxable | 86 | 96 | 179 | 210 |
Interest income on investment securities | $ 1,505 | $ 1,094 | $ 2,946 | $ 2,088 |
Securities (Schedule Of Carryin
Securities (Schedule Of Carrying Value Of Securities Pledged As Collateral) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Marketable Securities [Abstract] | ||
Public unit deposits | $ 467,812 | $ 515,553 |
Repurchase agreements | 107,862 | 108,360 |
Federal Reserve Bank of Kansas City (FRB of Kansas City) | 7,979 | 9,529 |
Total securities pledged as collateral | $ 583,653 | $ 633,442 |
Loans Receivable And Allowanc_3
Loans Receivable And Allowance For Credit Losses (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 | Mar. 31, 2018 |
Loans Receivable [Line Items] | |||
Loan-to-value ratio securing commercial real estate loans, maximum | 80.00% | ||
Debt service coverage ratio for commercial real estate loans, minimum | 1.20 | ||
Recorded investment of loans in process of foreclosure | $ 3,100 | $ 2,900 | |
Carrying value of residential OREO | 871 | 1,300 | |
Loans receivable | 7,570,806 | 7,514,485 | |
ACL maintained for impaired loans | 0 | 0 | |
ACL maintained for loans individually evaluated for impairment | 0 | 0 | $ 0 |
Doubtful [Member] | |||
Loans Receivable [Line Items] | |||
Loans receivable | $ 0 | $ 0 |
Loans Receivable And Allowanc_4
Loans Receivable And Allowance For Credit Losses (Summary Of Loans Receivable) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Loans Receivable [Line Items] | ||
Loans receivable, gross | $ 7,564,076 | $ 7,507,645 |
ACL | 8,619 | 8,463 |
Discounts/unearned loan fees | 32,582 | 33,933 |
Premiums/deferred costs | (47,931) | (49,236) |
Loans receivable, net | 7,570,806 | 7,514,485 |
One- to Four-Family Segment [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 6,699,284 | 6,798,435 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 3,922,565 | 3,965,692 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 2,470,619 | 2,505,987 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 272,575 | 293,607 |
One- to Four-Family Segment [Member] | Construction [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 33,525 | 33,149 |
Commercial Segment [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 729,703 | 569,610 |
Commercial Segment [Member] | Construction [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 108,649 | 80,498 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 547,202 | 426,243 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 73,852 | 62,869 |
Consumer Segment [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 135,089 | 139,600 |
Consumer Segment [Member] | Home Equity [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 125,176 | 129,588 |
Consumer Segment [Member] | Other [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | $ 9,913 | $ 10,012 |
Loans Receivable And Allowanc_5
Loans Receivable And Allowance For Credit Losses (Recorded Investment in Loans, Past Due) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | $ 26,880 | $ 27,916 |
Financing receivable, current loans | 7,552,545 | 7,495,032 |
Financing receivable, total recorded investment | 7,579,425 | 7,522,948 |
Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 17,463 | 18,839 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 9,417 | 9,077 |
One- to Four-Family Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total recorded investment | 6,720,131 | 6,820,187 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 13,823 | 15,638 |
Financing receivable, current loans | 3,927,534 | 3,968,362 |
Financing receivable, total recorded investment | 3,941,357 | 3,984,000 |
One- to Four-Family Segment [Member] | Originated [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 8,665 | 10,613 |
One- to Four-Family Segment [Member] | Originated [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 5,158 | 5,025 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 5,118 | 4,304 |
Financing receivable, current loans | 2,499,826 | 2,536,913 |
Financing receivable, total recorded investment | 2,504,944 | 2,541,217 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 4,186 | 3,846 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 932 | 458 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 5,563 | 6,584 |
Financing receivable, current loans | 268,267 | 288,386 |
Financing receivable, total recorded investment | 273,830 | 294,970 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 2,764 | 3,521 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 2,799 | 3,063 |
Commercial Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total recorded investment | 724,481 | 563,513 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 64 | 76 |
Financing receivable, current loans | 651,373 | 501,932 |
Financing receivable, total recorded investment | 651,437 | 502,008 |
Commercial Segment [Member] | Commercial Real Estate [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 64 | 76 |
Commercial Segment [Member] | Commercial Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 0 | 0 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 1,303 | 250 |
Financing receivable, current loans | 71,741 | 61,255 |
Financing receivable, total recorded investment | 73,044 | 61,505 |
Commercial Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 1,303 | 250 |
Commercial Segment [Member] | Commercial and Industrial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 0 | 0 |
Consumer Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total recorded investment | 134,813 | 139,248 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 944 | 993 |
Financing receivable, current loans | 123,999 | 128,351 |
Financing receivable, total recorded investment | 124,943 | 129,344 |
Consumer Segment [Member] | Home Equity [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 430 | 472 |
Consumer Segment [Member] | Home Equity [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 514 | 521 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 65 | 71 |
Financing receivable, current loans | 9,805 | 9,833 |
Financing receivable, total recorded investment | 9,870 | 9,904 |
Consumer Segment [Member] | Other [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 51 | 61 |
Consumer Segment [Member] | Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | $ 14 | $ 10 |
Loans Receivable And Allowanc_6
Loans Receivable And Allowance For Credit Losses (Recorded Investment in Loans, Nonaccrual) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | $ 12,428 | $ 10,969 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 6,872 | 6,503 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 932 | 863 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 2,799 | 3,063 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 1,288 | 0 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 0 | 0 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 517 | 530 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | $ 20 | $ 10 |
Loans Receivable And Allowanc_7
Loans Receivable And Allowance For Credit Losses (Recorded Investment In Classified Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | $ 7,579,425 | $ 7,522,948 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 17,344 | 12,332 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 30,681 | 35,002 |
One- to Four-Family Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 6,720,131 | 6,820,187 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 3,941,357 | 3,984,000 |
One- to Four-Family Segment [Member] | Originated [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 9,522 | 8,660 |
One- to Four-Family Segment [Member] | Originated [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 19,247 | 22,409 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 2,504,944 | 2,541,217 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 2,312 | 997 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 3,101 | 3,126 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 273,830 | 294,970 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 69 | 0 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 6,208 | 7,195 |
Commercial Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 724,481 | 563,513 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 651,437 | 502,008 |
Commercial Segment [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 3,675 | 1,251 |
Commercial Segment [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 1,288 | 1,368 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 73,044 | 61,505 |
Commercial Segment [Member] | Commercial and Industrial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 1,641 | 1,126 |
Commercial Segment [Member] | Commercial and Industrial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 0 | 0 |
Consumer Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 134,813 | 139,248 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 124,943 | 129,344 |
Consumer Segment [Member] | Home Equity [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 110 | 298 |
Consumer Segment [Member] | Home Equity [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 834 | 894 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 9,870 | 9,904 |
Consumer Segment [Member] | Other [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | 15 | 0 |
Consumer Segment [Member] | Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, total recorded investment | $ 3 | $ 10 |
Loans Receivable And Allowanc_8
Loans Receivable And Allowance For Credit Losses (LTV And Credit Score Information For Originated, Correspondent Purchased, And Bulk Purchased One-To Four-Family Loans And Originated Consumer Home Equity Loans) (Details) - credit_score | Mar. 31, 2019 | Sep. 30, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Weighted average credit score | 766 | 765 |
Weighted average LTV | 63.00% | 63.00% |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Weighted average credit score | 768 | 767 |
Weighted average LTV | 62.00% | 63.00% |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Weighted average credit score | 764 | 764 |
Weighted average LTV | 66.00% | 67.00% |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Weighted average credit score | 761 | 758 |
Weighted average LTV | 61.00% | 62.00% |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Weighted average credit score | 754 | 750 |
Weighted average LTV | 21.00% | 22.00% |
Loans Receivable And Allowanc_9
Loans Receivable And Allowance For Credit Losses (Troubled Debt Restructurings On Financing Receivables) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019USD ($)contract | Mar. 31, 2018USD ($)contract | Mar. 31, 2019USD ($)contract | Mar. 31, 2018USD ($)contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | 2 | 2 | 3 |
Pre-Restructured Outstanding | $ 308 | $ 93 | $ 425 | $ 167 |
Post-Restructured Outstanding | $ 308 | $ 94 | $ 425 | $ 176 |
One- to Four-Family Segment [Member] | Originated [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 2 | 1 | 3 |
Pre-Restructured Outstanding | $ 0 | $ 93 | $ 117 | $ 167 |
Post-Restructured Outstanding | $ 0 | $ 94 | $ 117 | $ 176 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 0 | 0 |
Pre-Restructured Outstanding | $ 0 | $ 0 | $ 0 | $ 0 |
Post-Restructured Outstanding | $ 0 | $ 0 | $ 0 | $ 0 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | 0 | 1 | 0 |
Pre-Restructured Outstanding | $ 308 | $ 0 | $ 308 | $ 0 |
Post-Restructured Outstanding | $ 308 | $ 0 | $ 308 | $ 0 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 0 | 0 |
Pre-Restructured Outstanding | $ 0 | $ 0 | $ 0 | $ 0 |
Post-Restructured Outstanding | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 0 | 0 |
Pre-Restructured Outstanding | $ 0 | $ 0 | $ 0 | $ 0 |
Post-Restructured Outstanding | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer Segment [Member] | Home Equity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 0 | 0 |
Pre-Restructured Outstanding | $ 0 | $ 0 | $ 0 | $ 0 |
Post-Restructured Outstanding | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer Segment [Member] | Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 0 | 0 |
Pre-Restructured Outstanding | $ 0 | $ 0 | $ 0 | $ 0 |
Post-Restructured Outstanding | $ 0 | $ 0 | $ 0 | $ 0 |
Loans Receivable And Allowan_10
Loans Receivable And Allowance For Credit Losses (Troubled Debt Restructurings On Financing Receivables That Subsequently Defaulted) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019USD ($)contract | Mar. 31, 2018USD ($)contract | Mar. 31, 2019USD ($)contract | Mar. 31, 2018USD ($)contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | 8 | 1 | 27 |
Recorded Investment | $ | $ 45 | $ 558 | $ 45 | $ 2,551 |
One- to Four-Family Segment [Member] | Originated [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 1 | 7 | 1 | 19 |
Recorded Investment | $ | $ 45 | $ 434 | $ 45 | $ 1,254 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 1 | 0 | 1 |
Recorded Investment | $ | $ 0 | $ 124 | $ 0 | $ 124 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 0 | 3 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 1,040 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer Segment [Member] | Home Equity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 0 | 4 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 133 |
Consumer Segment [Member] | Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | contract | 0 | 0 | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Loans Receivable And Allowan_11
Loans Receivable And Allowance For Credit Losses (Impaired Loans By Class, Instant Related Disclosures) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | $ 22,998 | $ 28,040 |
Unpaid Principal Balance | 24,527 | 29,877 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 15,299 | 18,857 |
Unpaid Principal Balance | 15,826 | 19,388 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 2,170 | 2,668 |
Unpaid Principal Balance | 2,274 | 2,768 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 5,131 | 6,011 |
Unpaid Principal Balance | 5,849 | 6,976 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 398 | 504 |
Unpaid Principal Balance | 548 | 720 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | $ 30 | $ 25 |
Loans Receivable And Allowan_12
Loans Receivable And Allowance For Credit Losses (Impaired Loans By Class, Duration Related Disclosures) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | $ 23,771 | $ 35,685 | $ 25,145 | $ 37,824 |
Interest Income Recognized | 240 | 333 | 499 | 726 |
One- to Four-Family Segment [Member] | Originated [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 15,928 | 25,398 | 16,980 | 26,896 |
Interest Income Recognized | 167 | 251 | 352 | 548 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 2,177 | 3,362 | 2,251 | 3,530 |
Interest Income Recognized | 23 | 31 | 45 | 64 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 5,230 | 6,319 | 5,453 | 6,761 |
Interest Income Recognized | 43 | 42 | 86 | 95 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Consumer Segment [Member] | Home Equity [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 436 | 606 | 461 | 637 |
Interest Income Recognized | 7 | 9 | 16 | 19 |
Consumer Segment [Member] | Other [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | $ 0 | $ 0 | $ 0 | $ 0 |
Loans Receivable And Allowan_13
Loans Receivable And Allowance For Credit Losses (Allowance For Credit Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | $ 8,558 | $ 8,370 | $ 8,463 | $ 8,398 |
Charge-offs | (12) | (200) | (68) | (234) |
Recoveries | 73 | 220 | 224 | 226 |
Provision for credit losses | 0 | 0 | 0 | 0 |
Ending Balance | 8,619 | 8,390 | 8,619 | 8,390 |
One- to Four-Family Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 5,345 | 6,017 | 5,739 | 6,095 |
Charge-offs | (10) | (196) | (56) | (199) |
Recoveries | 19 | 213 | 111 | 213 |
Provision for credit losses | (987) | 156 | (1,427) | 81 |
Ending Balance | 4,367 | 6,190 | 4,367 | 6,190 |
One- to Four-Family Segment [Member] | Originated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 2,761 | 3,115 | 2,953 | 3,173 |
Charge-offs | (10) | (68) | (30) | (71) |
Recoveries | 2 | 17 | 5 | 17 |
Provision for credit losses | (580) | 92 | (755) | 37 |
Ending Balance | 2,173 | 3,156 | 2,173 | 3,156 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 1,748 | 1,902 | 1,861 | 1,922 |
Charge-offs | 0 | (128) | 0 | (128) |
Recoveries | 0 | 0 | 0 | 0 |
Provision for credit losses | (356) | 260 | (469) | 240 |
Ending Balance | 1,392 | 2,034 | 1,392 | 2,034 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 836 | 1,000 | 925 | 1,000 |
Charge-offs | 0 | 0 | (26) | 0 |
Recoveries | 17 | 196 | 106 | 196 |
Provision for credit losses | (51) | (196) | (203) | (196) |
Ending Balance | 802 | 1,000 | 802 | 1,000 |
Commercial Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 3,034 | 2,157 | 2,556 | 2,112 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 25 | 0 | 27 | 0 |
Provision for credit losses | 1,029 | (119) | 1,505 | (74) |
Ending Balance | 4,088 | 2,038 | 4,088 | 2,038 |
Consumer Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 179 | 196 | 168 | 191 |
Charge-offs | (2) | (4) | (12) | (35) |
Recoveries | 29 | 7 | 86 | 13 |
Provision for credit losses | (42) | (37) | (78) | (7) |
Ending Balance | $ 164 | $ 162 | $ 164 | $ 162 |
Loans Receivable And Allowan_14
Loans Receivable And Allowance For Credit Losses (Summary Of Loan Portfolio Segment Disaggregated By The Company's Impairment Method) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | $ 7,556,427 | $ 7,494,908 |
Recorded investment in loans individually evaluated for impairment | 22,998 | 28,040 |
Financing receivable, total recorded investment | 7,579,425 | 7,522,948 |
ACL for loans collectively evaluated for impairment | 8,619 | 8,463 |
One- to Four-Family Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 6,697,531 | 6,792,651 |
Recorded investment in loans individually evaluated for impairment | 22,600 | 27,536 |
Financing receivable, total recorded investment | 6,720,131 | 6,820,187 |
ACL for loans collectively evaluated for impairment | 4,367 | 5,739 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 3,926,057 | 3,965,143 |
Recorded investment in loans individually evaluated for impairment | 15,300 | 18,857 |
Financing receivable, total recorded investment | 3,941,357 | 3,984,000 |
ACL for loans collectively evaluated for impairment | 2,173 | 2,953 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 2,502,775 | 2,538,549 |
Recorded investment in loans individually evaluated for impairment | 2,169 | 2,668 |
Financing receivable, total recorded investment | 2,504,944 | 2,541,217 |
ACL for loans collectively evaluated for impairment | 1,392 | 1,861 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 268,699 | 288,959 |
Recorded investment in loans individually evaluated for impairment | 5,131 | 6,011 |
Financing receivable, total recorded investment | 273,830 | 294,970 |
ACL for loans collectively evaluated for impairment | 802 | 925 |
Commercial Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 724,481 | 563,513 |
Recorded investment in loans individually evaluated for impairment | 0 | 0 |
Financing receivable, total recorded investment | 724,481 | 563,513 |
ACL for loans collectively evaluated for impairment | 4,088 | 2,556 |
Consumer Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 134,415 | 138,744 |
Recorded investment in loans individually evaluated for impairment | 398 | 504 |
Financing receivable, total recorded investment | 134,813 | 139,248 |
ACL for loans collectively evaluated for impairment | $ 164 | $ 168 |
Borrowed Funds (Narrative) (Det
Borrowed Funds (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |||||
Interest rate swaps, notional amount | $ 640,000,000 | $ 640,000,000 | |||
Interest rate swaps, notional amount | $ 475,000,000 | ||||
FHLB advances, variable rate | 640,000,000 | $ 640,000,000 | $ 475,000,000 | ||
Interest rate swaps, remaining term to maturity | 4 years 10 months 24 days | 5 years 9 months 18 days | |||
Interest rate swaps, fair value | (11,900,000) | $ (11,900,000) | $ 9,700,000 | ||
Interest rate swaps, amount reclassified from AOCI | (100,000) | $ (140,000) | 51,000 | $ (414,000) | |
Interest rate swaps, future amount to be reclassified from AOCI | 888,000 | ||||
Interest rate swaps, amount of hedge ineffectiveness recognized | 0 | ||||
Interest rate swaps, collateral posted | $ 13,400,000 | $ 13,400,000 | |||
Interest rate swaps, collateral held | (10,000,000) | ||||
Subordinated Debentures Subject to Mandatory Redemption [Member] | |||||
Junior subordinated debentures | $ 10,100,000 |
Fair Value Of Financial Instr_3
Fair Value Of Financial Instruments (Narrative) (Details) $ in Thousands | Mar. 31, 2019USD ($) | Sep. 30, 2018USD ($) | Mar. 31, 2018USD ($) |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
ACL maintained for loans individually evaluated for impairment | $ 0 | $ 0 | $ 0 |
Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans individually evaluated for impairment | 2,800 | 4,600 | |
OREO | $ 582 | 686 | |
Significant Unobservable Inputs (Level 3) [Member] | Estimated Selling Costs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans receivable, measurement input | 0.10 | ||
OREO, measurement input | 0.10 | ||
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans individually evaluated for impairment | $ 2,800 | 4,600 | |
OREO | $ 582 | $ 686 |
Fair Value Of Financial Instr_4
Fair Value Of Financial Instruments (Schedule Of Fair Value Assets Measured On A Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | $ 746,728 | $ 714,614 |
Interest rate swaps | 11,907 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps | 0 | |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps | 11,907 | |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps | 0 | |
GSE Debentures [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 267,741 | 265,398 |
MBS [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 474,844 | 445,090 |
Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 4,143 | 4,126 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 746,728 | 714,614 |
Interest Rate Swaps | 0 | 9,685 |
Assets | 746,728 | 724,299 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | 0 |
Interest Rate Swaps | 0 | 0 |
Assets | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 746,728 | 714,614 |
Interest Rate Swaps | 0 | 9,685 |
Assets | 746,728 | 724,299 |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | 0 |
Interest Rate Swaps | 0 | 0 |
Assets | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | GSE Debentures [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 474,844 | 445,090 |
Fair Value, Measurements, Recurring [Member] | GSE Debentures [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | GSE Debentures [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 474,844 | 445,090 |
Fair Value, Measurements, Recurring [Member] | GSE Debentures [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | MBS [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 267,741 | 265,398 |
Fair Value, Measurements, Recurring [Member] | MBS [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | MBS [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 267,741 | 265,398 |
Fair Value, Measurements, Recurring [Member] | MBS [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 4,143 | 4,126 |
Fair Value, Measurements, Recurring [Member] | Municipal Bonds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Municipal Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 4,143 | 4,126 |
Fair Value, Measurements, Recurring [Member] | Municipal Bonds [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | $ 0 | $ 0 |
Fair Value Of Financial Instr_5
Fair Value Of Financial Instruments (Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 | Mar. 31, 2018 |
Assets: | |||
AFS securities | $ 746,728 | $ 714,614 | |
HTM securities | 526,099 | 601,071 | |
Liabilities: | |||
Interest rate swaps | 11,907 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Liabilities: | |||
Interest rate swaps | 0 | ||
Significant Other Observable Inputs (Level 2) [Member] | |||
Liabilities: | |||
Interest rate swaps | 11,907 | ||
Significant Unobservable Inputs (Level 3) [Member] | |||
Assets: | |||
Loans receivable | 2,800 | $ 4,600 | |
Liabilities: | |||
Interest rate swaps | 0 | ||
Carrying Amount [Member] | |||
Assets: | |||
Cash and cash equivalents | 218,051 | 139,055 | |
AFS securities | 746,728 | 714,614 | |
HTM securities | 527,460 | 612,318 | |
Loans receivable | 7,570,806 | 7,514,485 | |
FHLB stock | 102,631 | 99,726 | |
Interest rate swaps | 9,685 | ||
Liabilities: | |||
Deposits | 5,701,111 | 5,603,354 | |
FHLB borrowings | 2,239,985 | 2,174,981 | |
Other borrowings | 100,000 | 110,052 | |
Interest rate swaps | 11,907 | ||
Estimated Fair Value [Member] | |||
Assets: | |||
Cash and cash equivalents | 218,051 | 139,055 | |
AFS securities | 746,728 | 714,614 | |
HTM securities | 526,099 | 601,071 | |
Loans receivable | 7,646,753 | 7,418,026 | |
FHLB stock | 102,631 | 99,726 | |
Interest rate swaps | 9,685 | ||
Liabilities: | |||
Deposits | 5,696,333 | 5,569,591 | |
FHLB borrowings | 2,214,700 | 2,145,477 | |
Other borrowings | 98,843 | 109,465 | |
Interest rate swaps | 11,907 | ||
Estimated Fair Value [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Assets: | |||
Cash and cash equivalents | 218,051 | 139,055 | |
AFS securities | 0 | 0 | |
HTM securities | 0 | 0 | |
Loans receivable | 0 | 0 | |
FHLB stock | 102,631 | 99,726 | |
Interest rate swaps | 0 | ||
Liabilities: | |||
Deposits | 2,778,862 | 2,666,297 | |
FHLB borrowings | 100,001 | 100,000 | |
Other borrowings | 0 | 10,503 | |
Interest rate swaps | 0 | ||
Estimated Fair Value [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Assets: | |||
Cash and cash equivalents | 0 | 0 | |
AFS securities | 746,728 | 714,614 | |
HTM securities | 526,099 | 601,071 | |
Loans receivable | 0 | 0 | |
FHLB stock | 0 | 0 | |
Interest rate swaps | 9,685 | ||
Liabilities: | |||
Deposits | 2,917,471 | 2,903,294 | |
FHLB borrowings | 2,114,699 | 2,045,477 | |
Other borrowings | 98,843 | 98,962 | |
Interest rate swaps | 11,907 | ||
Estimated Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Assets: | |||
Cash and cash equivalents | 0 | 0 | |
AFS securities | 0 | 0 | |
HTM securities | 0 | 0 | |
Loans receivable | 7,646,753 | 7,418,026 | |
FHLB stock | 0 | 0 | |
Interest rate swaps | 0 | ||
Liabilities: | |||
Deposits | 0 | 0 | |
FHLB borrowings | 0 | 0 | |
Other borrowings | 0 | $ 0 | |
Interest rate swaps | $ 0 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2019 | Mar. 31, 2018 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Beginning balance | $ 4,340 | $ 4,340 | ||||
Other comprehensive income (loss) | $ (3,539) | (6,217) | $ 1,418 | $ 156 | ||
Reclassification of certain income tax effects related to adoption of ASU 2018-02 | 0 | |||||
Ending balance | (5,416) | (5,416) | ||||
Unrealized Gains (Losses) on AFS Securities [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Beginning balance | 537 | (2,990) | 2,124 | 3,290 | (2,990) | $ 3,290 |
Other comprehensive income (loss), before reclassifications | 3,061 | (1,898) | 6,588 | (3,064) | ||
Amount reclassified from AOCI | 0 | 0 | 0 | 0 | ||
Other comprehensive income (loss) | 3,061 | (1,898) | 6,588 | (3,064) | ||
Reclassification of certain income tax effects related to adoption of ASU 2018-02 | 461 | 461 | ||||
Ending balance | 3,598 | 537 | 687 | 2,124 | 3,598 | 687 |
Unrealized Gains (Losses) on Cash Flow Hedges [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Beginning balance | (2,414) | 7,330 | 950 | (372) | 7,330 | (372) |
Other comprehensive income (loss), before reclassifications | (6,500) | 3,456 | (16,395) | 5,052 | ||
Amount reclassified from AOCI | (100) | (140) | 51 | (414) | ||
Other comprehensive income (loss) | (6,600) | 3,316 | (16,344) | 4,638 | ||
Reclassification of certain income tax effects related to adoption of ASU 2018-02 | 206 | 206 | ||||
Ending balance | (9,014) | (2,414) | 4,472 | 950 | (9,014) | 4,472 |
AOCI [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Beginning balance | (1,877) | 4,340 | 3,074 | 2,918 | 4,340 | 2,918 |
Other comprehensive income (loss), before reclassifications | (3,439) | 1,558 | (9,807) | 1,988 | ||
Amount reclassified from AOCI | (100) | (140) | 51 | (414) | ||
Other comprehensive income (loss) | (3,539) | (6,217) | 1,418 | 156 | (9,756) | 1,574 |
Reclassification of certain income tax effects related to adoption of ASU 2018-02 | 667 | 667 | ||||
Ending balance | $ (5,416) | $ (1,877) | $ 5,159 | $ 3,074 | $ (5,416) | $ 5,159 |
Revenue Recognition (Narrative)
Revenue Recognition (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2019 | Mar. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | ||||
Cumulative effect of adopting ASU 2014-09 | $ 394 | $ 0 | $ 394 | |
Revenue from contracts with customers | 8,100 | |||
Interchange network charges | $ 1,700 | $ 1,500 |