Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Dec. 31, 2019 | Jan. 31, 2020 | |
Cover page. | ||
Document Type | 10-Q | |
Quarterly Report indicator | true | |
Period End Date | Dec. 31, 2019 | |
Transition Report indicator | false | |
Commission file number | 001-34814 | |
Registrant Name | Capitol Federal Financial, Inc. | |
State of incorporation | MD | |
IRS identification number | 27-2631712 | |
Address of principal executive offices location | 700 South Kansas Avenue, | |
City of principal executive offices location | Topeka, | |
State of principal executive offices location | KS | |
Zip code of principal executive offices location | 66603 | |
Telephone number - Area code | 785 | |
Telephone number | 235-1341 | |
Title of security class | Common Stock,par value $0.01 per share | |
Trading symbol | CFFN | |
Name of exchange on which securities are registered | NASDAQ | |
Entity current reporting status indicator | Yes | |
Interactive data current reporting status indicator | Yes | |
Filer category | Large Accelerated Filer | |
Smaller Reporting Company indicator | false | |
Emerging Growth Company indicator | false | |
Shell company indicator | false | |
Entity Common Stock, Shares Outstanding | 141,512,165 | |
Entity Central Index Key | 0001490906 | |
Current Fiscal Year End Date | --09-30 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 |
ASSETS: | ||
Cash and cash equivalents (includes interest-earning deposits of $46,427 and $198,809) | $ 70,703 | $ 220,370 |
Available-for-sale (AFS) securities, at estimated fair value | 1,229,587 | 1,204,863 |
Loans receivable, net (allowance for credit losses (ACL) of $9,435 and $9,226) | 7,429,207 | 7,416,747 |
Federal Home Loan Bank Topeka (FHLB) stock, at cost | 99,861 | 98,456 |
Premises and equipment, net | 98,188 | 96,784 |
Income taxes receivable, net | 0 | 2 |
Other assets | 309,026 | 302,796 |
TOTAL ASSETS | 9,236,572 | 9,340,018 |
LIABILITIES: | ||
Deposits | 5,585,851 | 5,581,867 |
Borrowings | 2,189,991 | 2,239,989 |
Advance payments by borrowers for taxes and insurance | 27,284 | 65,686 |
Income taxes payable, net | 3,802 | 0 |
Deferred income tax liabilities, net | 15,308 | 14,282 |
Accounts payable and accrued expenses | 107,742 | 101,868 |
Total liabilities | 7,929,978 | 8,003,692 |
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, 141,502,665 and 141,440,030 shares issued and outstanding as of December 31, 2019 and September 30, 2019, respectively | 1,415 | 1,414 |
Additional paid-in capital | 1,211,172 | 1,210,226 |
Unearned compensation, Employee Stock Ownership Plan (ESOP) | (34,279) | (34,692) |
Retained earnings | 138,213 | 174,277 |
Accumulated other comprehensive (loss) income (AOCI), net of tax | (9,927) | (14,899) |
Total stockholders' equity | 1,306,594 | 1,336,326 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 9,236,572 | $ 9,340,018 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 |
Statement of Financial Position [Abstract] | ||
Interest-earning deposits | $ 46,427 | $ 198,809 |
Loans receivable, allowance for credit losses | $ 9,435 | $ 9,226 |
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 | 141,502,665 | 141,440,030 |
Common stock, shares outstanding | 141,502,665 | 141,440,030 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
INTEREST AND DIVIDEND INCOME: | ||
Loans receivable | $ 69,914 | $ 70,772 |
Mortgage-backed securities (MBS) | 6,102 | 6,523 |
FHLB stock | 1,826 | 1,971 |
Investment securities | 1,507 | 1,441 |
Cash and cash equivalents | 687 | 1,714 |
Total interest and dividend income | 80,036 | 82,421 |
INTEREST EXPENSE: | ||
Deposits | 17,962 | 15,725 |
Borrowings | 13,377 | 14,395 |
Total interest expense | 31,339 | 30,120 |
NET INTEREST INCOME | 48,697 | 52,301 |
PROVISION FOR CREDIT LOSSES | 225 | 0 |
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 48,472 | 52,301 |
NON-INTEREST INCOME: | ||
Revenue from contracts with customers | 4,000 | 4,300 |
Other non-interest income | 1,751 | 1,446 |
Total non-interest income | 5,504 | 5,424 |
NON-INTEREST EXPENSE: | ||
Salaries and employee benefits | 13,471 | 12,962 |
Information technology and related expense | 4,141 | 4,599 |
Occupancy, net | 3,207 | 3,252 |
Advertising and promotional | 1,410 | 760 |
Regulatory and outside services | 1,343 | 1,766 |
Deposit and loan transaction costs | 711 | 736 |
Office supplies and related expense | 519 | 459 |
Federal insurance premium | 0 | 528 |
Other non-interest expense | 1,698 | 1,720 |
Total non-interest expense | 26,500 | 26,782 |
INCOME BEFORE INCOME TAX EXPENSE | 27,476 | 30,943 |
INCOME TAX EXPENSE | 4,965 | 6,560 |
NET INCOME | $ 22,511 | $ 24,383 |
Basic earnings per share (EPS) | $ 0.16 | $ 0.18 |
Diluted EPS | $ 0.16 | $ 0.18 |
Basic weighted average common shares | 137,898,010 | 137,550,920 |
Diluted weighted average common shares | 137,976,122 | 137,592,379 |
Deposit service fees [Member] | ||
NON-INTEREST INCOME: | ||
Revenue from contracts with customers | $ 3,062 | $ 3,352 |
Insurance commissions [Member] | ||
NON-INTEREST INCOME: | ||
Revenue from contracts with customers | $ 691 | $ 626 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 22,511 | $ 24,383 |
Other comprehensive income (loss), net of tax: | ||
Unrealized gains (losses) on AFS securities arising during the period, net of taxes of $145 and $(1,133) | (452) | 3,527 |
Changes in unrealized gains (losses) on cash flow hedges, net of taxes of $(1,741) and $3,128 | 5,424 | (9,744) |
Comprehensive income | $ 27,483 | $ 18,166 |
Consolidated Statements Of Co_2
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | ||
Unrealized gains (losses) on AFS securities arising during the period, deferred income taxes | $ (145) | $ 1,133 |
Changes in unrealized gains (losses) on cash flow hedges, deferred income taxes | $ 1,741 | $ (3,128) |
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, 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 | 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, 2019 | 1,336,326 | 1,414 | 1,210,226 | (34,692) | 174,277 | (14,899) |
Net income | 22,511 | 22,511 | ||||
Other comprehensive income (loss), net of tax | 4,972 | 4,972 | ||||
Cumulative effect of adopting Accounting Standards Update | 88 | 88 | ||||
ESOP activity | 582 | 169 | 413 | |||
Restricted stock activity, net | (1) | (1) | ||||
Stock-based compensation | 166 | 166 | ||||
Stock options exercised | 613 | 1 | 612 | |||
Cash dividends to stockholders | (58,663) | (58,663) | ||||
Balance at Dec. 31, 2019 | $ 1,306,594 | $ 1,415 | $ 1,211,172 | $ (34,279) | $ 138,213 | $ (9,927) |
Consolidated Statements Of St_2
Consolidated Statements Of Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||
Cash dividends to stockholders | $ 0.425 | $ 0.475 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 22,511 | $ 24,383 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
FHLB stock dividends | (1,826) | (1,971) |
Provision for credit losses | 225 | 0 |
Amortization and accretion of premiums and discounts on securities | 228 | 388 |
Depreciation and amortization of premises and equipment | 2,286 | 2,518 |
Amortization of intangible assets | 500 | 608 |
Amortization of deferred amounts related to FHLB advances, net | 2 | 2 |
Common stock committed to be released for allocation - ESOP | 582 | 531 |
Stock-based compensation | 166 | 95 |
Changes in: | ||
Unrestricted cash collateral (provided to)/received from derivative counterparties, net | 0 | (9,970) |
Other assets, net | 1,237 | 1,050 |
Income taxes payable/receivable, net | 3,808 | 5,589 |
Deferred income tax liabilities, net | (597) | (746) |
Accounts payable and accrued expenses | (2,312) | (8,175) |
Net cash provided by operating activities | 26,810 | 14,302 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of AFS securities | (149,359) | 0 |
Proceeds from calls, maturities and principal reductions of AFS securities | 123,810 | 51,003 |
Proceeds from calls, maturities and principal reductions of HTM securities | 0 | 42,876 |
Proceeds from the redemption of FHLB stock | 421 | 94,500 |
Purchase of FHLB stock | 0 | (93,324) |
Net change in loans receivable | (12,844) | (11,898) |
Purchase of premises and equipment | (3,882) | (2,183) |
Proceeds from sale of other real estate owned (OREO) | 585 | 631 |
Proceeds from bank-owned life insurance (BOLI) death benefit | 490 | 0 |
Net cash (used in) provided by investing activities | (40,779) | 81,605 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Cash dividends paid | (58,663) | (65,362) |
Net change in deposits | 3,984 | (45,490) |
Proceeds from borrowings | 362,400 | 2,615,000 |
Repayments on borrowings | (412,400) | (2,618,866) |
Change in advance payments by borrowers for taxes and insurance | (38,402) | (36,858) |
Stock options exercised | 613 | 467 |
Net cash used in financing activities | (142,468) | (151,109) |
NET DECREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS | (156,437) | (55,202) |
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS: | ||
Beginning of period | 253,700 | 139,055 |
End of period | 97,263 | 83,853 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
Operating lease right-of-use assets obtained | 15,658 | 0 |
Operating lease liabilities obtained | $ 15,543 | $ 0 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 3 Months Ended |
Dec. 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, 2019 , 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 $70.7 million and $220.4 million at December 31, 2019 and September 30, 2019 , respectively, and restricted cash and cash equivalents of $26.6 million and $33.3 million at December 31, 2019 at September 30, 2019 , respectively, which was included in other assets on the consolidated balance sheet. 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. There was no FHLB advance activity reported on a net basis in the consolidated statements of cash flows during the three months ended December 31, 2019 and 2018 . Leases - The Company leases real estate property for branches, ATMs, and certain equipment. All of the leases in which the Company is the lessee are classified as operating leases. The Company determines if an arrangement is a lease at inception and if the lease is an operating lease or a finance lease. Operating lease right-of-use assets represent the Company's right to use an underlying asset during the lease term and operating lease liabilities represent the Company's obligation to make lease payments arising from the lease. The right-of-use assets associated with operating leases are recorded in other assets in the Company's consolidated balance sheets. The lease liabilities associated with operating leases are included in accounts payable and accrued expenses on the consolidated balance sheets. The period over which the right-of-use asset is amortized is generally the lesser of the expected remaining term or the remaining useful life of the leased asset. The lease liability is decreased as periodic lease payments are made. The Company performs impairment assessments for right-of-use assets when events or changes in circumstances indicate that their carrying values may not be recoverable. The calculated amount of the right-of-use assets and lease liabilities are impacted by the length of the lease term and the discount rate used to calculate the present value of the minimum remaining lease payments. The Company's lease agreements often include one or more options to renew at the Company's discretion. If, at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company includes the extended term in the calculation of the right-of-use asset and lease liability. Generally, the Company cannot practically determine the interest rate implicit in the lease so the Company's incremental borrowing rate is used as the discount rate for the lease. The Company uses FHLB advance interest rates, which have been deemed as the Company's incremental borrowing rate, at lease inception based upon the term of the lease. For operating leases existing prior to October 1, 2019, the rate for the remaining lease term as of October 1, 2019 was applied. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Lease expense, variable lease expense and short-term lease expense are included in occupancy expense in the Company's consolidated statements of income. For facility-related leases, the Company elected, by lease class, to not separate lease and non-lease components. Lease expense is recognized on a straight-line basis over the lease term. Variable lease expense primarily represents payments such as common area maintenance and utilities and are recognized as expense in the period when those payments are incurred. Short-term lease expense relates to leases with an initial term of 12 months or less. The Company has elected to not record a right-of-use asset or lease liability for short-term leases. Recent Accounting Pronouncements - In February 2016, the Financial Accounting Standards Board ("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. 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 ASU, as amended, became effective for the Company on October 1, 2019. Upon adoption, the Company elected the modified retrospective approach and the optional transition method under which the Company used the effective date as the date of initial application of the amendments. The optional practical expedients the Company elected include: (1) not reassessing whether any expired or existing contracts are or contain leases, (2) not reassessing the classification of any expired or existing contracts, (3) not reassessing initial direct costs for existing leases, and (4) using hindsight for leases existing at adoption date. For leases with an initial term of 12 months or less, the Company elected the short-term lease option, which entails not recognizing right-of-use assets and lease liabilities for these leases. Additionally, the Company elected, for facility-related leases, the practical expedient that allows an entity to elect, by lease class, the ability to not separate lease and non-lease components. Upon adoption, the Company recognized a right-of-use asset of $15.7 million and a lease liability of $15.5 million , related to the Company's non-cancellable operating lease commitments based on the present value of the expected remaining lease payments as of October 1, 2019. The cumulative-effect adjustment to retained earnings at the time of adoption totaled $88 thousand . These ASUs did not have a material impact on the Company's results of operations and cash flows at the time of adoption. The disclosures required by the ASU are included in Note 9. Leases. 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 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 continues to work with a software provider on the application and implementation of the new accounting guidance. The integration of the Company's data with the software provider is complete. Model development, with the assistance of the software provider, is currently in process. 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 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 . The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include internal-use software license). The effective date of this ASU for the Company is October 1, 2020, with early adoption permitted. The Company is currently evaluating the effect of the ASU on the Company's consolidated financial condition, results of operations and disclosures. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. This ASU makes clarifications and corrections to the application of the guidance contained in each of the amended topics. According to the provisions of the ASU, entities that have not adopted ASU 2017-12 prior to the issuance of ASU 2019-04 shall adopt the provisions of both ASUs at the same time. The effective date of the non-hedging amendments contained in ASU 2019-04 for the Company is October 1, 2020. The Company is currently evaluating the effect of the non-hedging amendments contained in this ASU on the Company's consolidated financial condition, results of operations and disclosures. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Dec. 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 December 31, 2019 2018 (Dollars in thousands, except per share amounts) Net income $ 22,511 $ 24,383 Income allocated to participating securities (19 ) (9 ) Net income available to common stockholders $ 22,492 $ 24,374 Average common shares outstanding 137,897,561 137,550,471 Average committed ESOP shares outstanding 449 449 Total basic average common shares outstanding 137,898,010 137,550,920 Effect of dilutive stock options 78,112 41,459 Total diluted average common shares outstanding 137,976,122 137,592,379 Net EPS: Basic $ 0.16 $ 0.18 Diluted $ 0.16 $ 0.18 Antidilutive stock options, excluded from the diluted average common shares outstanding calculation 435,750 550,021 |
Securities
Securities | 3 Months Ended |
Dec. 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 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"). December 31, 2019 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) MBS $ 924,732 $ 14,983 $ 2,398 $ 937,317 GSE debentures 274,994 257 96 275,155 Municipal bonds 17,050 65 — 17,115 $ 1,216,776 $ 15,305 $ 2,494 $ 1,229,587 September 30, 2019 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) MBS $ 923,256 $ 15,571 $ 2,340 $ 936,487 GSE debentures 249,828 304 178 249,954 Municipal bonds 18,371 52 1 18,422 $ 1,191,455 $ 15,927 $ 2,519 $ 1,204,863 The following tables summarize the estimated fair value and gross unrealized losses of those AFS 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. December 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) MBS $ 71,249 $ 387 $ 174,037 $ 2,011 GSE debentures 24,946 54 74,952 42 Municipal bonds — — — — $ 96,195 $ 441 $ 248,989 $ 2,053 September 30, 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) MBS $ 111,368 $ 126 $ 199,442 $ 2,214 GSE debentures — — 74,812 178 Municipal bonds 1,755 1 — — $ 113,123 $ 127 $ 274,254 $ 2,392 The unrealized losses at December 31, 2019 and September 30, 2019 were 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 market yields 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 December 31, 2019 or September 30, 2019 . The amortized cost and estimated fair value of AFS debt securities as of December 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. Amortized Estimated Cost Fair Value (Dollars in thousands) One year or less $ 81,453 $ 81,417 One year through five years 185,591 185,853 Five years through ten years 25,000 25,000 292,044 292,270 MBS 924,732 937,317 $ 1,216,776 $ 1,229,587 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 December 31, 2019 2018 (Dollars in thousands) Taxable $ 1,437 $ 1,348 Non-taxable 70 93 $ 1,507 $ 1,441 The following table summarizes the carrying value of securities pledged as collateral for the obligations indicated below as of the dates presented. December 31, 2019 September 30, 2019 (Dollars in thousands) Public unit deposits $ 307,875 $ 381,143 Repurchase agreements 108,000 108,271 Federal Reserve Bank of Kansas City ("FRB of Kansas City") 6,109 6,636 $ 421,984 $ 496,050 |
Loans Receivable And Allowance
Loans Receivable And Allowance For Credit Losses | 3 Months Ended |
Dec. 31, 2019 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans Receivable And Allowance For Credit Losses | LOANS RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES Loans receivable, net at the dates presented is summarized as follows: December 31, 2019 September 30, 2019 (Dollars in thousands) One- to four-family: Originated $ 3,927,015 $ 3,873,851 Correspondent purchased 2,343,750 2,349,877 Bulk purchased 237,691 252,347 Construction 38,771 36,758 Total 6,547,227 6,512,833 Commercial: Commercial real estate 583,848 583,617 Commercial and industrial 57,019 61,094 Construction 107,372 123,159 Total 748,239 767,870 Consumer: Home equity 118,491 120,587 Other 10,877 11,183 Total 129,368 131,770 Total loans receivable 7,424,834 7,412,473 Less: ACL 9,435 9,226 Discounts/unearned loan fees 30,323 31,058 Premiums/deferred costs (44,131 ) (44,558 ) $ 7,429,207 $ 7,416,747 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. 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 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 and commercial construction loans are originated by the Bank or are in participation with a lead bank. When underwriting a commercial real estate or commercial construction 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 and commercial construction 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 85% of the appraised value of the property securing the loans and the minimum debt service coverage ratio is generally 1.15 . For commercial construction loans, LTV ratios generally do not exceed 80% of the projected appraised value of the property securing the loans and the minimum debt service coverage ratio is generally 1.15 , but it applies to the projected cash flows, and the borrower must have successful experience with the construction and operation of properties similar to the subject property. 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 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. One- to four-family construction loans are included in either the originated class or correspondent purchased class, and commercial construction loans are included in the commercial real estate class. 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 December 31, 2019 and September 30, 2019 , all loans 90 or more days delinquent were on nonaccrual status. December 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 $ 8,980 $ 3,527 $ 12,507 $ 3,938,497 $ 3,951,004 Correspondent purchased 4,179 1,395 5,574 2,369,379 2,374,953 Bulk purchased 3,345 701 4,046 234,723 238,769 Commercial: Commercial real estate 963 — 963 687,095 688,058 Commercial and industrial 231 — 231 56,385 56,616 Consumer: Home equity 442 328 770 117,637 118,407 Other 45 12 57 10,778 10,835 $ 18,185 $ 5,963 $ 24,148 $ 7,414,494 $ 7,438,642 September 30, 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 $ 7,187 $ 3,261 $ 10,448 $ 3,885,335 $ 3,895,783 Correspondent purchased 2,762 1,023 3,785 2,377,629 2,381,414 Bulk purchased 3,624 1,484 5,108 248,376 253,484 Commercial: Commercial real estate 762 — 762 702,377 703,139 Commercial and industrial 70 173 243 60,340 60,583 Consumer: Home equity 446 302 748 119,688 120,436 Other 78 21 99 11,035 11,134 $ 14,929 $ 6,264 $ 21,193 $ 7,404,780 $ 7,425,973 The recorded investment in mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process as of December 31, 2019 and September 30, 2019 was $1.6 million and $1.5 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 $512 thousand at December 31, 2019 and $745 thousand at September 30, 2019 . The following table presents the recorded investment, by class, in loans classified as nonaccrual at the dates presented. December 31, 2019 September 30, 2019 (Dollars in thousands) One- to four-family: Originated $ 4,159 $ 4,436 Correspondent purchased 1,395 1,023 Bulk purchased 835 1,551 Commercial: Commercial real estate 187 — Commercial and industrial 175 173 Consumer: Home equity 328 337 Other 12 21 $ 7,091 $ 7,541 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. December 31, 2019 September 30, 2019 Special Mention Substandard Special Mention Substandard (Dollars in thousands) One- to four-family: Originated $ 12,558 $ 16,901 $ 12,941 $ 15,628 Correspondent purchased 3,102 3,248 2,349 2,785 Bulk purchased 100 5,080 102 5,294 Commercial: Commercial real estate 51,556 2,599 52,891 2,472 Commercial and industrial 1,232 2,752 1,215 3,057 Consumer: Home equity 366 673 280 696 Other 8 10 2 24 $ 68,922 $ 31,263 $ 69,780 $ 29,956 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 September 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. December 31, 2019 September 30, 2019 Credit Score LTV Credit Score LTV One- to four-family - originated 768 62 % 768 62 % One- to four-family - correspondent 764 65 765 65 One- to four-family - bulk purchased 763 61 762 61 Consumer - home equity 754 19 754 19 766 62 766 62 Troubled Debt Restructurings ("TDRs") - 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 December 31, 2019 Number Pre- Post- of Restructured Restructured Contracts Outstanding Outstanding (Dollars in thousands) One- to four-family: Originated 2 $ 103 $ 102 Correspondent purchased — — — Bulk purchased 1 75 134 Commercial: Commercial real estate — — — Commercial and industrial — — — Consumer: Home equity — — — Other — — — 3 $ 178 $ 236 For the Three Months Ended December 31, 2018 Number Pre- Post- of Restructured Restructured Contracts Outstanding Outstanding (Dollars in thousands) One- to four-family: Originated 1 $ 117 $ 117 Correspondent purchased — — — Bulk purchased — — — Commercial: Commercial real estate — — — Commercial and industrial — — — Consumer: Home equity — — — Other — — — 1 $ 117 $ 117 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 December 31, 2019 December 31, 2018 Number of Recorded Number of Recorded Contracts Investment Contracts Investment (Dollars in thousands) One- to four-family: Originated 1 $ 38 — $ — Correspondent purchased — — — — Bulk purchased 1 134 — — Commercial: Commercial real estate — — — — Commercial and industrial — — — — Consumer: Home equity — — — — Other — — — — 2 $ 172 — $ — Impaired loans - The following information pertains to impaired loans, by class, as of the dates presented. December 31, 2019 September 30, 2019 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance ACL Investment Balance ACL (Dollars in thousands) With no related allowance recorded One- to four-family: Originated $ 14,568 $ 15,135 $ — $ 14,683 $ 15,241 $ — Correspondent purchased 1,756 1,861 — 1,763 1,868 — Bulk purchased 5,020 5,737 — 4,943 5,661 — Commercial: Commercial real estate — — — — — — Commercial and industrial — 148 — 60 184 — Consumer: Home equity 327 440 — 345 462 — Other — 31 — — 29 — 21,671 23,352 — 21,794 23,445 — With an allowance recorded One- to four-family: Originated — — — — — — Correspondent purchased — — — — — — Bulk purchased — — — — — — Commercial: Commercial real estate — — — — — — Commercial and industrial 2,432 2,432 225 — — — Consumer: Home equity — — — — — — Other — — — — — — 2,432 2,432 225 — — — Total One- to four-family: Originated 14,568 15,135 — 14,683 15,241 — Correspondent purchased 1,756 1,861 — 1,763 1,868 — Bulk purchased 5,020 5,737 — 4,943 5,661 — Commercial: Commercial real estate — — — — — — Commercial and industrial 2,432 2,580 225 60 184 — Consumer: Home equity 327 440 — 345 462 — Other — 31 — — 29 — $ 24,103 $ 25,784 $ 225 $ 21,794 $ 23,445 $ — The following information pertains to impaired loans, by class, for the periods presented. For the Three Months Ended December 31, 2019 December 31, 2018 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized (Dollars in thousands) With no related allowance recorded One- to four-family: Originated $ 14,621 $ 161 $ 18,049 $ 185 Correspondent purchased 1,760 18 2,309 22 Bulk purchased 4,978 52 5,632 43 Commercial: Commercial real estate — — — — Commercial and industrial 33 — — — Consumer: Home equity 337 6 489 9 Other — — — — 21,729 237 26,479 259 With an allowance recorded One- to four-family: Originated — — — — Correspondent purchased — — — — Bulk purchased — — — — Commercial: Commercial real estate — — — — Commercial and industrial 608 12 — — Consumer: Home equity — — — — Other — — — — 608 12 — — Total One- to four-family: Originated 14,621 161 18,049 185 Correspondent purchased 1,760 18 2,309 22 Bulk purchased 4,978 52 5,632 43 Commercial: Commercial real estate — — — — Commercial and industrial 641 12 — — Consumer: Home equity 337 6 489 9 Other — — — — $ 22,337 $ 249 $ 26,479 $ 259 Allowance for Credit Losses - 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 December 31, 2019 One- to Four-Family Correspondent Bulk Originated Purchased Purchased Total Commercial Consumer Total (Dollars in thousands) Beginning balance $ 2,000 $ 1,203 $ 687 $ 3,890 $ 5,171 $ 165 $ 9,226 Charge-offs (18 ) — — (18 ) (24 ) (6 ) (48 ) Recoveries — — — — 27 5 32 Provision for credit losses 65 (3 ) (75 ) (13 ) 244 (6 ) 225 Ending balance $ 2,047 $ 1,200 $ 612 $ 3,859 $ 5,418 $ 158 $ 9,435 For the Three Months Ended December 31, 2018 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 (20 ) — (26 ) (46 ) — (10 ) (56 ) Recoveries 3 — 89 92 2 57 151 Provision for credit losses (175 ) (113 ) (152 ) (440 ) 476 (36 ) — Ending balance $ 2,761 $ 1,748 $ 836 $ 5,345 $ 3,034 $ 179 $ 8,558 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. December 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 $ 3,936,436 $ 2,373,197 $ 233,749 $ 6,543,382 $ 742,242 $ 128,915 $ 7,414,539 Recorded investment in loans individually evaluated for impairment 14,568 1,756 5,020 21,344 2,432 327 24,103 $ 3,951,004 $ 2,374,953 $ 238,769 $ 6,564,726 $ 744,674 $ 129,242 $ 7,438,642 ACL for loans collectively evaluated for impairment $ 2,047 $ 1,200 $ 612 $ 3,859 $ 5,193 $ 158 $ 9,210 ACL for loans individually evaluated for impairment — — — — 225 — 225 September 30, 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 $ 3,881,100 $ 2,379,651 $ 248,541 $ 6,509,292 $ 763,662 $ 131,225 $ 7,404,179 Recorded investment in loans individually evaluated for impairment 14,683 1,763 4,943 21,389 60 345 21,794 $ 3,895,783 $ 2,381,414 $ 253,484 $ 6,530,681 $ 763,722 $ 131,570 $ 7,425,973 ACL for loans collectively evaluated for impairment $ 2,000 $ 1,203 $ 687 $ 3,890 $ 5,171 $ 165 $ 9,226 ACL for loans individually evaluated for impairment — — — — — — — |
Borrowed Funds
Borrowed Funds | 3 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Borrowed Funds | BORROWED FUNDS FHLB Borrowings and Interest Rate Swaps - At December 31, 2019 and September 30, 2019 , the Bank had entered into interest rate swap agreements with a total notional amount of $640.0 million in order to hedge the variable cash flows associated with $640.0 million of adjustable-rate FHLB advances. At December 31, 2019 and September 30, 2019 , the interest rate swap agreements had an average remaining term to maturity of 4.2 years and 4.5 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 December 31, 2019 and September 30, 2019 , the interest rate swaps were in a loss position with a total fair value of $25.9 million and $33.1 million , respectively, which was reported in accounts payable and accrued expenses on the consolidated balance sheet. During the three months ended December 31, 2019 and December 31, 2018 , $709 thousand and $151 thousand , respectively, was reclassified from AOCI as an increase to interest expense. There was no hedge ineffectiveness recognized in the consolidated statements of income during either period. At December 31, 2019 , the Company estimated that $5.9 million of interest expense associated with the interest rate swaps will be reclassified from AOCI as an increase to interest expense on FHLB borrowings 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 $26.6 million at December 31, 2019 and $33.3 million at September 30, 2019 . |
Fair Value Of Financial Instrum
Fair Value Of Financial Instruments | 3 Months Ended |
Dec. 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 Accounting Standards Codification ("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 three months ended December 31, 2019 or during fiscal year 2019. 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 values of the interest rates swaps are obtained from the counterparty and are determined by 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. No changes were made to the estimated fair values during the three months ended December 31, 2019 or during fiscal year 2019. (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 December 31, 2019 or September 30, 2019 . December 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 $ 937,317 $ — $ 937,317 $ — GSE debentures 275,155 — 275,155 — Municipal bonds 17,115 — 17,115 — $ 1,229,587 $ — $ 1,229,587 $ — Liabilities: Interest rate swaps $ 25,925 $ — $ 25,925 $ — September 30, 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 $ 936,487 $ — $ 936,487 $ — GSE debentures 249,954 — 249,954 — Municipal bonds 18,422 — 18,422 — $ 1,204,863 $ — $ 1,204,863 $ — Liabilities: Interest rate swaps $ 33,090 $ — $ 33,090 $ — 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 fair value of loans individually evaluated for impairment on a non-recurring basis during the three months ended December 31, 2019 and 2018 that were still held in the portfolio as of December 31, 2019 and 2018 was $3.9 million and $1.8 million , respectively. The one- to four-family loans included in this amount 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 of one- to four-family loans, except for the estimated sales cost noted above, and the primary unobservable input for these loans was the appraisal. For commercial loans, if the most recent appraisal or book value of the collateral does not reflect the current market conditions due to the passage of time and/or other factors, management will make adjustments to the existing appraised or book value based on knowledge of local market conditions, recent transactions, and estimated selling costs, if applicable. Adjustments to appraised or book values are generally based on assumptions not observable in the marketplace. The primary significant unobservable inputs for commercial loans individually evaluated for impairment during the three months ended December 31, 2019 were downward adjustments to the book value of the collateral for lack of marketability. The adjustments ranged from 10% to 50% , with a weighted average of 18% . There were no commercial loans individually evaluated during the three months ended December 31, 2018 . 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. 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 three months ended December 31, 2019 and 2018 that was still held in the portfolio as of December 31, 2019 and 2018 was $193 thousand and $192 thousand , respectively. The carrying value of the properties equaled the fair value of the properties at December 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: December 31, 2019 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 (Dollars in thousands) Assets: Cash and cash equivalents $ 70,703 $ 70,703 $ 70,703 $ — $ — AFS securities 1,229,587 1,229,587 — 1,229,587 — Loans receivable 7,429,207 7,646,224 — — 7,646,224 FHLB stock 99,861 99,861 99,861 — — Liabilities: Deposits 5,585,851 5,615,034 2,665,536 2,949,498 — Borrowings 2,189,991 2,203,925 100,001 2,103,924 — Interest rate swaps 25,925 25,925 — 25,925 — September 30, 2019 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 (Dollars in thousands) Assets: Cash and cash equivalents $ 220,370 $ 220,370 $ 220,370 $ — $ — AFS securities 1,204,863 1,204,863 — 1,204,863 — Loans receivable 7,416,747 7,654,586 — — 7,654,586 FHLB stock 98,456 98,456 98,456 — — Liabilities: Deposits 5,581,867 5,614,895 2,594,242 3,020,653 — Borrowings 2,239,989 2,253,353 100,001 2,153,352 — Interest rate swaps 33,090 33,090 — 33,090 — |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 3 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income | ACCUMULATED OTHER COMPREHENSIVE INCOME The following tables present the changes in the components of AOCI, net of tax, for the periods indicated. For the Three Months Ended December 31, 2019 Unrealized Unrealized Gains (Losses) Gains (Losses) on AFS on Cash Flow Total Securities Hedges AOCI (Dollars in thousands) Beginning balance $ 10,150 $ (25,049 ) $ (14,899 ) Other comprehensive income (loss), before reclassifications (452 ) 4,715 4,263 Amount reclassified from AOCI — 709 709 Other comprehensive income (loss) (452 ) 5,424 4,972 Ending balance $ 9,698 $ (19,625 ) $ (9,927 ) For the Three Months Ended December 31, 2018 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 3,527 (9,895 ) (6,368 ) Amount reclassified from AOCI — 151 151 Other comprehensive income (loss) 3,527 (9,744 ) (6,217 ) Ending balance $ 537 $ (2,414 ) $ (1,877 ) |
Revenue Recognition
Revenue Recognition | 3 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | REVENUE RECOGNITION Details of the Company's primary types of non-interest income revenue streams by financial statement line item reported in the consolidated statements of income that are within the scope of ASC Topic 606 are below. During the three months ended December 31, 2019 and 2018 , revenue from contracts with customers totaled $4.0 million and $4.3 million , respectively. 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 is acting as an agent for its debit card customers when they are utilizing the card payment networks; therefore, interchange transaction fee income is reported net of interchange network charges. Interchange network charges totaled $832 thousand and $944 thousand for the three months ended December 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). Insurance Commissions Commissions are received on insurance product sales. The Company acts in the capacity of an agent between the Company's customer and the insurance carrier. The Company's performance obligation is satisfied when the terms of the policy have been agreed upon and the insurance policy becomes effective. Additionally, the Company earns performance-based incentives ("contingent insurance commissions") based on certain criteria established by the insurance carriers. 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. |
Leases
Leases | 3 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Leases | LEASES The Company leases real estate property for branches, ATMs, and certain equipment. These leases have remaining terms that range from one year to 48 years , some of which include the exercising of renewal options that the Company considers to be reasonably certain. As of December 31, 2019 , a right-of-use asset of $15.4 million was included in other assets and a lease liability of $15.3 million was included in accounts payable and accrued expenses on the consolidated balance sheets. As of December 31, 2019 , for the Company's operating leases, the weighted average remaining lease term was 23.3 years and the weighted average discount rate was 2.70% . During the three months ended December 31, 2019 , the Company recognized operating lease expense of $389 thousand , variable lease expense of $50 thousand and short-term lease expense of $9 thousand . Cash paid during the period for amounts included in the measurement of lease liabilities totaled $344 thousand . The Company did not enter into any new lease obligations during the three months ended December 31, 2019 . The following table presents future minimum payments, rounded to the nearest thousand, for operating leases with initial or remaining terms in excess of one year as of December 31, 2019 : 2020 $ 1,267 2021 1,345 2022 1,332 2023 1,160 2024 978 Thereafter 16,023 Total future minimum lease payments 22,105 Amounts representing interest (6,810 ) Present value of net future minimum lease payments $ 15,295 The Company elected the modified retrospective approach for its adoption of ASU 2016-02, and the optional transition method under which the Company used the effective date as the date of initial application of the amendments. These elections require the inclusion of ASC Topic 840 disclosures for periods that continue to be presented in accordance with ASC Topic 840. As of September 30, 2019 , future minimum rental commitments, rounded to the nearest thousand, required under operating leases that had initial or remaining non-cancelable lease terms in excess of one year were as follows: 2020 $ 1,298 2021 1,187 2022 1,069 2023 930 2024 637 Thereafter 1,115 $ 6,236 |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policies) | 3 Months Ended |
Dec. 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, 2019 , 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 $70.7 million and $220.4 million at December 31, 2019 and September 30, 2019 , respectively, and restricted cash and cash equivalents of $26.6 million and $33.3 million at December 31, 2019 at September 30, 2019 , respectively, which was included in other assets on the consolidated balance sheet. 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. There was no FHLB advance activity reported on a net basis in the consolidated statements of cash flows during the three months ended December 31, 2019 and 2018 . |
Leases | The Company leases real estate property for branches, ATMs, and certain equipment. All of the leases in which the Company is the lessee are classified as operating leases. The Company determines if an arrangement is a lease at inception and if the lease is an operating lease or a finance lease. Operating lease right-of-use assets represent the Company's right to use an underlying asset during the lease term and operating lease liabilities represent the Company's obligation to make lease payments arising from the lease. The right-of-use assets associated with operating leases are recorded in other assets in the Company's consolidated balance sheets. The lease liabilities associated with operating leases are included in accounts payable and accrued expenses on the consolidated balance sheets. The period over which the right-of-use asset is amortized is generally the lesser of the expected remaining term or the remaining useful life of the leased asset. The lease liability is decreased as periodic lease payments are made. The Company performs impairment assessments for right-of-use assets when events or changes in circumstances indicate that their carrying values may not be recoverable. The calculated amount of the right-of-use assets and lease liabilities are impacted by the length of the lease term and the discount rate used to calculate the present value of the minimum remaining lease payments. The Company's lease agreements often include one or more options to renew at the Company's discretion. If, at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company includes the extended term in the calculation of the right-of-use asset and lease liability. Generally, the Company cannot practically determine the interest rate implicit in the lease so the Company's incremental borrowing rate is used as the discount rate for the lease. The Company uses FHLB advance interest rates, which have been deemed as the Company's incremental borrowing rate, at lease inception based upon the term of the lease. For operating leases existing prior to October 1, 2019, the rate for the remaining lease term as of October 1, 2019 was applied. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Lease expense, variable lease expense and short-term lease expense are included in occupancy expense in the Company's consolidated statements of income. For facility-related leases, the Company elected, by lease class, to not separate lease and non-lease components. Lease expense is recognized on a straight-line basis over the lease term. Variable lease expense primarily represents payments such as common area maintenance and utilities and are recognized as expense in the period when those payments are incurred. Short-term lease expense relates to leases with an initial term of 12 months or less. The Company has elected to not record a right-of-use asset or lease liability for short-term leases. |
Recent Accounting Pronouncements | In February 2016, the Financial Accounting Standards Board ("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. 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 ASU, as amended, became effective for the Company on October 1, 2019. Upon adoption, the Company elected the modified retrospective approach and the optional transition method under which the Company used the effective date as the date of initial application of the amendments. The optional practical expedients the Company elected include: (1) not reassessing whether any expired or existing contracts are or contain leases, (2) not reassessing the classification of any expired or existing contracts, (3) not reassessing initial direct costs for existing leases, and (4) using hindsight for leases existing at adoption date. For leases with an initial term of 12 months or less, the Company elected the short-term lease option, which entails not recognizing right-of-use assets and lease liabilities for these leases. Additionally, the Company elected, for facility-related leases, the practical expedient that allows an entity to elect, by lease class, the ability to not separate lease and non-lease components. Upon adoption, the Company recognized a right-of-use asset of $15.7 million and a lease liability of $15.5 million , related to the Company's non-cancellable operating lease commitments based on the present value of the expected remaining lease payments as of October 1, 2019. The cumulative-effect adjustment to retained earnings at the time of adoption totaled $88 thousand . These ASUs did not have a material impact on the Company's results of operations and cash flows at the time of adoption. The disclosures required by the ASU are included in Note 9. Leases. 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 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 continues to work with a software provider on the application and implementation of the new accounting guidance. The integration of the Company's data with the software provider is complete. Model development, with the assistance of the software provider, is currently in process. 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 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 . The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include internal-use software license). The effective date of this ASU for the Company is October 1, 2020, with early adoption permitted. The Company is currently evaluating the effect of the ASU on the Company's consolidated financial condition, results of operations and disclosures. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. This ASU makes clarifications and corrections to the application of the guidance contained in each of the amended topics. According to the provisions of the ASU, entities that have not adopted ASU 2017-12 prior to the issuance of ASU 2019-04 shall adopt the provisions of both ASUs at the same time. The effective date of the non-hedging amendments contained in ASU 2019-04 for the Company is October 1, 2020. The Company is currently evaluating the effect of the non-hedging amendments contained in this ASU on the Company's consolidated financial condition, results of operations and disclosures. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Dec. 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 December 31, 2019 2018 (Dollars in thousands, except per share amounts) Net income $ 22,511 $ 24,383 Income allocated to participating securities (19 ) (9 ) Net income available to common stockholders $ 22,492 $ 24,374 Average common shares outstanding 137,897,561 137,550,471 Average committed ESOP shares outstanding 449 449 Total basic average common shares outstanding 137,898,010 137,550,920 Effect of dilutive stock options 78,112 41,459 Total diluted average common shares outstanding 137,976,122 137,592,379 Net EPS: Basic $ 0.16 $ 0.18 Diluted $ 0.16 $ 0.18 Antidilutive stock options, excluded from the diluted average common shares outstanding calculation 435,750 550,021 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Dec. 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 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"). December 31, 2019 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) MBS $ 924,732 $ 14,983 $ 2,398 $ 937,317 GSE debentures 274,994 257 96 275,155 Municipal bonds 17,050 65 — 17,115 $ 1,216,776 $ 15,305 $ 2,494 $ 1,229,587 September 30, 2019 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in thousands) MBS $ 923,256 $ 15,571 $ 2,340 $ 936,487 GSE debentures 249,828 304 178 249,954 Municipal bonds 18,371 52 1 18,422 $ 1,191,455 $ 15,927 $ 2,519 $ 1,204,863 |
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 AFS 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. December 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) MBS $ 71,249 $ 387 $ 174,037 $ 2,011 GSE debentures 24,946 54 74,952 42 Municipal bonds — — — — $ 96,195 $ 441 $ 248,989 $ 2,053 September 30, 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) MBS $ 111,368 $ 126 $ 199,442 $ 2,214 GSE debentures — — 74,812 178 Municipal bonds 1,755 1 — — $ 113,123 $ 127 $ 274,254 $ 2,392 |
Schedule Of Contractual Maturities | The amortized cost and estimated fair value of AFS debt securities as of December 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. Amortized Estimated Cost Fair Value (Dollars in thousands) One year or less $ 81,453 $ 81,417 One year through five years 185,591 185,853 Five years through ten years 25,000 25,000 292,044 292,270 MBS 924,732 937,317 $ 1,216,776 $ 1,229,587 |
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 December 31, 2019 2018 (Dollars in thousands) Taxable $ 1,437 $ 1,348 Non-taxable 70 93 $ 1,507 $ 1,441 |
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. December 31, 2019 September 30, 2019 (Dollars in thousands) Public unit deposits $ 307,875 $ 381,143 Repurchase agreements 108,000 108,271 Federal Reserve Bank of Kansas City ("FRB of Kansas City") 6,109 6,636 $ 421,984 $ 496,050 |
Loans Receivable And Allowanc_2
Loans Receivable And Allowance For Credit Losses (Tables) | 3 Months Ended |
Dec. 31, 2019 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Summary of Loans Receivable | Loans receivable, net at the dates presented is summarized as follows: December 31, 2019 September 30, 2019 (Dollars in thousands) One- to four-family: Originated $ 3,927,015 $ 3,873,851 Correspondent purchased 2,343,750 2,349,877 Bulk purchased 237,691 252,347 Construction 38,771 36,758 Total 6,547,227 6,512,833 Commercial: Commercial real estate 583,848 583,617 Commercial and industrial 57,019 61,094 Construction 107,372 123,159 Total 748,239 767,870 Consumer: Home equity 118,491 120,587 Other 10,877 11,183 Total 129,368 131,770 Total loans receivable 7,424,834 7,412,473 Less: ACL 9,435 9,226 Discounts/unearned loan fees 30,323 31,058 Premiums/deferred costs (44,131 ) (44,558 ) $ 7,429,207 $ 7,416,747 |
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 December 31, 2019 and September 30, 2019 , all loans 90 or more days delinquent were on nonaccrual status. December 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 $ 8,980 $ 3,527 $ 12,507 $ 3,938,497 $ 3,951,004 Correspondent purchased 4,179 1,395 5,574 2,369,379 2,374,953 Bulk purchased 3,345 701 4,046 234,723 238,769 Commercial: Commercial real estate 963 — 963 687,095 688,058 Commercial and industrial 231 — 231 56,385 56,616 Consumer: Home equity 442 328 770 117,637 118,407 Other 45 12 57 10,778 10,835 $ 18,185 $ 5,963 $ 24,148 $ 7,414,494 $ 7,438,642 September 30, 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 $ 7,187 $ 3,261 $ 10,448 $ 3,885,335 $ 3,895,783 Correspondent purchased 2,762 1,023 3,785 2,377,629 2,381,414 Bulk purchased 3,624 1,484 5,108 248,376 253,484 Commercial: Commercial real estate 762 — 762 702,377 703,139 Commercial and industrial 70 173 243 60,340 60,583 Consumer: Home equity 446 302 748 119,688 120,436 Other 78 21 99 11,035 11,134 $ 14,929 $ 6,264 $ 21,193 $ 7,404,780 $ 7,425,973 |
Recorded Investment in Loans, Nonaccrual | The following table presents the recorded investment, by class, in loans classified as nonaccrual at the dates presented. December 31, 2019 September 30, 2019 (Dollars in thousands) One- to four-family: Originated $ 4,159 $ 4,436 Correspondent purchased 1,395 1,023 Bulk purchased 835 1,551 Commercial: Commercial real estate 187 — Commercial and industrial 175 173 Consumer: Home equity 328 337 Other 12 21 $ 7,091 $ 7,541 |
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. December 31, 2019 September 30, 2019 Special Mention Substandard Special Mention Substandard (Dollars in thousands) One- to four-family: Originated $ 12,558 $ 16,901 $ 12,941 $ 15,628 Correspondent purchased 3,102 3,248 2,349 2,785 Bulk purchased 100 5,080 102 5,294 Commercial: Commercial real estate 51,556 2,599 52,891 2,472 Commercial and industrial 1,232 2,752 1,215 3,057 Consumer: Home equity 366 673 280 696 Other 8 10 2 24 $ 68,922 $ 31,263 $ 69,780 $ 29,956 |
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 September 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. December 31, 2019 September 30, 2019 Credit Score LTV Credit Score LTV One- to four-family - originated 768 62 % 768 62 % One- to four-family - correspondent 764 65 765 65 One- to four-family - bulk purchased 763 61 762 61 Consumer - home equity 754 19 754 19 766 62 766 62 |
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 December 31, 2019 Number Pre- Post- of Restructured Restructured Contracts Outstanding Outstanding (Dollars in thousands) One- to four-family: Originated 2 $ 103 $ 102 Correspondent purchased — — — Bulk purchased 1 75 134 Commercial: Commercial real estate — — — Commercial and industrial — — — Consumer: Home equity — — — Other — — — 3 $ 178 $ 236 For the Three Months Ended December 31, 2018 Number Pre- Post- of Restructured Restructured Contracts Outstanding Outstanding (Dollars in thousands) One- to four-family: Originated 1 $ 117 $ 117 Correspondent purchased — — — Bulk purchased — — — Commercial: Commercial real estate — — — Commercial and industrial — — — Consumer: Home equity — — — Other — — — 1 $ 117 $ 117 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 December 31, 2019 December 31, 2018 Number of Recorded Number of Recorded Contracts Investment Contracts Investment (Dollars in thousands) One- to four-family: Originated 1 $ 38 — $ — Correspondent purchased — — — — Bulk purchased 1 134 — — Commercial: Commercial real estate — — — — Commercial and industrial — — — — Consumer: Home equity — — — — Other — — — — 2 $ 172 — $ — |
Impaired Loans by Class | The following information pertains to impaired loans, by class, for the periods presented. For the Three Months Ended December 31, 2019 December 31, 2018 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized (Dollars in thousands) With no related allowance recorded One- to four-family: Originated $ 14,621 $ 161 $ 18,049 $ 185 Correspondent purchased 1,760 18 2,309 22 Bulk purchased 4,978 52 5,632 43 Commercial: Commercial real estate — — — — Commercial and industrial 33 — — — Consumer: Home equity 337 6 489 9 Other — — — — 21,729 237 26,479 259 With an allowance recorded One- to four-family: Originated — — — — Correspondent purchased — — — — Bulk purchased — — — — Commercial: Commercial real estate — — — — Commercial and industrial 608 12 — — Consumer: Home equity — — — — Other — — — — 608 12 — — Total One- to four-family: Originated 14,621 161 18,049 185 Correspondent purchased 1,760 18 2,309 22 Bulk purchased 4,978 52 5,632 43 Commercial: Commercial real estate — — — — Commercial and industrial 641 12 — — Consumer: Home equity 337 6 489 9 Other — — — — $ 22,337 $ 249 $ 26,479 $ 259 The following information pertains to impaired loans, by class, as of the dates presented. December 31, 2019 September 30, 2019 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance ACL Investment Balance ACL (Dollars in thousands) With no related allowance recorded One- to four-family: Originated $ 14,568 $ 15,135 $ — $ 14,683 $ 15,241 $ — Correspondent purchased 1,756 1,861 — 1,763 1,868 — Bulk purchased 5,020 5,737 — 4,943 5,661 — Commercial: Commercial real estate — — — — — — Commercial and industrial — 148 — 60 184 — Consumer: Home equity 327 440 — 345 462 — Other — 31 — — 29 — 21,671 23,352 — 21,794 23,445 — With an allowance recorded One- to four-family: Originated — — — — — — Correspondent purchased — — — — — — Bulk purchased — — — — — — Commercial: Commercial real estate — — — — — — Commercial and industrial 2,432 2,432 225 — — — Consumer: Home equity — — — — — — Other — — — — — — 2,432 2,432 225 — — — Total One- to four-family: Originated 14,568 15,135 — 14,683 15,241 — Correspondent purchased 1,756 1,861 — 1,763 1,868 — Bulk purchased 5,020 5,737 — 4,943 5,661 — Commercial: Commercial real estate — — — — — — Commercial and industrial 2,432 2,580 225 60 184 — Consumer: Home equity 327 440 — 345 462 — Other — 31 — — 29 — $ 24,103 $ 25,784 $ 225 $ 21,794 $ 23,445 $ — |
Allowance for Credit Losses | 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 December 31, 2019 One- to Four-Family Correspondent Bulk Originated Purchased Purchased Total Commercial Consumer Total (Dollars in thousands) Beginning balance $ 2,000 $ 1,203 $ 687 $ 3,890 $ 5,171 $ 165 $ 9,226 Charge-offs (18 ) — — (18 ) (24 ) (6 ) (48 ) Recoveries — — — — 27 5 32 Provision for credit losses 65 (3 ) (75 ) (13 ) 244 (6 ) 225 Ending balance $ 2,047 $ 1,200 $ 612 $ 3,859 $ 5,418 $ 158 $ 9,435 For the Three Months Ended December 31, 2018 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 (20 ) — (26 ) (46 ) — (10 ) (56 ) Recoveries 3 — 89 92 2 57 151 Provision for credit losses (175 ) (113 ) (152 ) (440 ) 476 (36 ) — Ending balance $ 2,761 $ 1,748 $ 836 $ 5,345 $ 3,034 $ 179 $ 8,558 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. December 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 $ 3,936,436 $ 2,373,197 $ 233,749 $ 6,543,382 $ 742,242 $ 128,915 $ 7,414,539 Recorded investment in loans individually evaluated for impairment 14,568 1,756 5,020 21,344 2,432 327 24,103 $ 3,951,004 $ 2,374,953 $ 238,769 $ 6,564,726 $ 744,674 $ 129,242 $ 7,438,642 ACL for loans collectively evaluated for impairment $ 2,047 $ 1,200 $ 612 $ 3,859 $ 5,193 $ 158 $ 9,210 ACL for loans individually evaluated for impairment — — — — 225 — 225 September 30, 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 $ 3,881,100 $ 2,379,651 $ 248,541 $ 6,509,292 $ 763,662 $ 131,225 $ 7,404,179 Recorded investment in loans individually evaluated for impairment 14,683 1,763 4,943 21,389 60 345 21,794 $ 3,895,783 $ 2,381,414 $ 253,484 $ 6,530,681 $ 763,722 $ 131,570 $ 7,425,973 ACL for loans collectively evaluated for impairment $ 2,000 $ 1,203 $ 687 $ 3,890 $ 5,171 $ 165 $ 9,226 ACL for loans individually evaluated for impairment — — — — — — — |
Fair Value Of Financial Instr_2
Fair Value Of Financial Instruments (Tables) | 3 Months Ended |
Dec. 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 December 31, 2019 or September 30, 2019 . December 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 $ 937,317 $ — $ 937,317 $ — GSE debentures 275,155 — 275,155 — Municipal bonds 17,115 — 17,115 — $ 1,229,587 $ — $ 1,229,587 $ — Liabilities: Interest rate swaps $ 25,925 $ — $ 25,925 $ — September 30, 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 $ 936,487 $ — $ 936,487 $ — GSE debentures 249,954 — 249,954 — Municipal bonds 18,422 — 18,422 — $ 1,204,863 $ — $ 1,204,863 $ — Liabilities: Interest rate swaps $ 33,090 $ — $ 33,090 $ — |
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: December 31, 2019 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 (Dollars in thousands) Assets: Cash and cash equivalents $ 70,703 $ 70,703 $ 70,703 $ — $ — AFS securities 1,229,587 1,229,587 — 1,229,587 — Loans receivable 7,429,207 7,646,224 — — 7,646,224 FHLB stock 99,861 99,861 99,861 — — Liabilities: Deposits 5,585,851 5,615,034 2,665,536 2,949,498 — Borrowings 2,189,991 2,203,925 100,001 2,103,924 — Interest rate swaps 25,925 25,925 — 25,925 — September 30, 2019 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 (Dollars in thousands) Assets: Cash and cash equivalents $ 220,370 $ 220,370 $ 220,370 $ — $ — AFS securities 1,204,863 1,204,863 — 1,204,863 — Loans receivable 7,416,747 7,654,586 — — 7,654,586 FHLB stock 98,456 98,456 98,456 — — Liabilities: Deposits 5,581,867 5,614,895 2,594,242 3,020,653 — Borrowings 2,239,989 2,253,353 100,001 2,153,352 — Interest rate swaps 33,090 33,090 — 33,090 — |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 3 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following tables present the changes in the components of AOCI, net of tax, for the periods indicated. For the Three Months Ended December 31, 2019 Unrealized Unrealized Gains (Losses) Gains (Losses) on AFS on Cash Flow Total Securities Hedges AOCI (Dollars in thousands) Beginning balance $ 10,150 $ (25,049 ) $ (14,899 ) Other comprehensive income (loss), before reclassifications (452 ) 4,715 4,263 Amount reclassified from AOCI — 709 709 Other comprehensive income (loss) (452 ) 5,424 4,972 Ending balance $ 9,698 $ (19,625 ) $ (9,927 ) For the Three Months Ended December 31, 2018 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 3,527 (9,895 ) (6,368 ) Amount reclassified from AOCI — 151 151 Other comprehensive income (loss) 3,527 (9,744 ) (6,217 ) Ending balance $ 537 $ (2,414 ) $ (1,877 ) |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Schedule of Future Minimum Payments for Operating Leases | The following table presents future minimum payments, rounded to the nearest thousand, for operating leases with initial or remaining terms in excess of one year as of December 31, 2019 : 2020 $ 1,267 2021 1,345 2022 1,332 2023 1,160 2024 978 Thereafter 16,023 Total future minimum lease payments 22,105 Amounts representing interest (6,810 ) Present value of net future minimum lease payments $ 15,295 |
Schedule of Future Minimum Rental Commitments | As of September 30, 2019 , future minimum rental commitments, rounded to the nearest thousand, required under operating leases that had initial or remaining non-cancelable lease terms in excess of one year were as follows: 2020 $ 1,298 2021 1,187 2022 1,069 2023 930 2024 637 Thereafter 1,115 $ 6,236 |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Oct. 01, 2019 | Sep. 30, 2019 | |
Accounting Policies [Abstract] | ||||
Cash and cash equivalents | $ 70,703 | $ 220,370 | ||
Restricted cash and cash equivalents | $ 26,600 | $ 33,300 | ||
Restricted cash and cash equivalents, balance sheet location | us-gaap:OtherAssets | |||
Right-of-use asset, amount | $ 15,400 | $ 15,700 | ||
Lease liability, amount | 15,295 | $ 15,500 | ||
Cumulative effect of adopting Accounting Standards Update | $ 88 | $ 394 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Earnings Per Share | ||
Net income | $ 22,511 | $ 24,383 |
Income allocated to participating securities | (19) | (9) |
Net income available to common stockholders | $ 22,492 | $ 24,374 |
Total basic average common shares outstanding | 137,898,010 | 137,550,920 |
Effect of dilutive stock options | 78,112 | 41,459 |
Total diluted average common shares outstanding | 137,976,122 | 137,592,379 |
Net EPS: | ||
Basic | $ 0.16 | $ 0.18 |
Diluted | $ 0.16 | $ 0.18 |
Antidilutive stock options, excluded from the diluted average common shares outstanding calculation | 435,750 | 550,021 |
Average Common Shares Outstanding [Member] | ||
Earnings Per Share | ||
Total basic average common shares outstanding | 137,897,561 | 137,550,471 |
Average Committed ESOP Shares Outstanding [Member] | ||
Earnings Per Share | ||
Total basic average common shares outstanding | 449 | 449 |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Dec. 31, 2019 | Sep. 30, 2019 | |
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 | Dec. 31, 2019 | Sep. 30, 2019 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $ 1,216,776 | $ 1,191,455 |
Available-for-sale Securities, Gross Unrealized Gains | 15,305 | 15,927 |
Available-for-sale Securities, Gross Unrealized Losses | 2,494 | 2,519 |
Available-for-sale Securities, Estimated Fair Value | 1,229,587 | 1,204,863 |
MBS [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 924,732 | 923,256 |
Available-for-sale Securities, Gross Unrealized Gains | 14,983 | 15,571 |
Available-for-sale Securities, Gross Unrealized Losses | 2,398 | 2,340 |
Available-for-sale Securities, Estimated Fair Value | 937,317 | 936,487 |
GSE Debentures [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 274,994 | 249,828 |
Available-for-sale Securities, Gross Unrealized Gains | 257 | 304 |
Available-for-sale Securities, Gross Unrealized Losses | 96 | 178 |
Available-for-sale Securities, Estimated Fair Value | 275,155 | 249,954 |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 17,050 | 18,371 |
Available-for-sale Securities, Gross Unrealized Gains | 65 | 52 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 1 |
Available-for-sale Securities, Estimated Fair Value | $ 17,115 | $ 18,422 |
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 | Dec. 31, 2019 | Sep. 30, 2019 |
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | $ 96,195 | $ 113,123 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 441 | 127 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 248,989 | 274,254 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 2,053 | 2,392 |
MBS [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 71,249 | 111,368 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 387 | 126 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 174,037 | 199,442 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 2,011 | 2,214 |
GSE Debentures [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 24,946 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 54 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 74,952 | 74,812 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | 42 | 178 |
Municipal Bonds [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Estimated Fair Value | 0 | 1,755 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 Months, Unrealized Losses | 0 | 1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Estimated Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Equal to or Greater Than 12 Months, Unrealized Losses | $ 0 | $ 0 |
Securities (Schedule Of Contrac
Securities (Schedule Of Contractual Maturities) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 |
Investment Holdings [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $ 1,216,776 | $ 1,191,455 |
Available-for-sale Securities, Estimated Fair Value | 1,229,587 | 1,204,863 |
Debt Securities [Member] | ||
Investment Holdings [Line Items] | ||
Available-for-sale Securities, One year or less, Amortized Cost | 81,453 | |
Available-for-sale Securities, One year through five years, Amortized Cost | 185,591 | |
Available-for-sale Securities, Five years through ten years, Amortized Cost | 25,000 | |
Available-for-sale Securities, Amortized Cost | 292,044 | |
Available-for-sale Securities, One year or less, Estimated Fair Value | 81,417 | |
Available-for-sale Securities, One year through five years, Estimated Fair Value | 185,853 | |
Available-for-sale Securities, Five years through ten years, Estimated Fair Value | 25,000 | |
Available-for-sale Securities, Estimated Fair Value | 292,270 | |
MBS [Member] | ||
Investment Holdings [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 924,732 | 923,256 |
Available-for-sale Securities, Estimated Fair Value | $ 937,317 | $ 936,487 |
Securities (Schedule Of Taxable
Securities (Schedule Of Taxable And Non-taxable Components Of Interest Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Marketable Securities [Abstract] | ||
Taxable | $ 1,437 | $ 1,348 |
Non-taxable | 70 | 93 |
Interest income on investment securities | $ 1,507 | $ 1,441 |
Securities (Schedule Of Carryin
Securities (Schedule Of Carrying Value Of Securities Pledged As Collateral) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 |
Marketable Securities [Abstract] | ||
Public unit deposits | $ 307,875 | $ 381,143 |
Repurchase agreements | 108,000 | 108,271 |
Federal Reserve Bank of Kansas City (FRB of Kansas City) | 6,109 | 6,636 |
Total securities pledged as collateral | $ 421,984 | $ 496,050 |
Loans Receivable And Allowanc_3
Loans Receivable And Allowance For Credit Losses (Narrative) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 |
Loans Receivable [Line Items] | ||
Loan-to-value ratio securing commercial real estate loans, maximum | 85.00% | |
Debt service coverage ratio for commercial real estate loans, minimum | 1.15 | |
Loan-to-value ratio securing commercial construction loans, maximum | 80.00% | |
Recorded investment of loans in process of foreclosure | $ 1,600 | $ 1,500 |
Carrying value of residential OREO | 512 | 745 |
Loans receivable | 7,429,207 | 7,416,747 |
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 | Dec. 31, 2019 | Sep. 30, 2019 |
Loans Receivable [Line Items] | ||
Loans receivable, gross | $ 7,424,834 | $ 7,412,473 |
ACL | 9,435 | 9,226 |
Discounts/unearned loan fees | 30,323 | 31,058 |
Premiums/deferred costs | (44,131) | (44,558) |
Loans receivable, net | 7,429,207 | 7,416,747 |
One- to Four-Family Segment [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 6,547,227 | 6,512,833 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 3,927,015 | 3,873,851 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 2,343,750 | 2,349,877 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 237,691 | 252,347 |
One- to Four-Family Segment [Member] | Construction [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 38,771 | 36,758 |
Commercial Segment [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 748,239 | 767,870 |
Commercial Segment [Member] | Construction [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 107,372 | 123,159 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 583,848 | 583,617 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 57,019 | 61,094 |
Consumer Segment [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 129,368 | 131,770 |
Consumer Segment [Member] | Home Equity [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | 118,491 | 120,587 |
Consumer Segment [Member] | Other [Member] | ||
Loans Receivable [Line Items] | ||
Loans receivable, gross | $ 10,877 | $ 11,183 |
Loans Receivable And Allowanc_5
Loans Receivable And Allowance For Credit Losses (Recorded Investment in Loans, Past Due) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 |
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | $ 24,148 | $ 21,193 |
Financing receivable, current loans | 7,414,494 | 7,404,780 |
Financing receivable, total recorded investment | 7,438,642 | 7,425,973 |
Financial Asset, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 18,185 | 14,929 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 5,963 | 6,264 |
One- to Four-Family Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total recorded investment | 6,564,726 | 6,530,681 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 12,507 | 10,448 |
Financing receivable, current loans | 3,938,497 | 3,885,335 |
Financing receivable, total recorded investment | 3,951,004 | 3,895,783 |
One- to Four-Family Segment [Member] | Originated [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 8,980 | 7,187 |
One- to Four-Family Segment [Member] | Originated [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 3,527 | 3,261 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 5,574 | 3,785 |
Financing receivable, current loans | 2,369,379 | 2,377,629 |
Financing receivable, total recorded investment | 2,374,953 | 2,381,414 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 4,179 | 2,762 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 1,395 | 1,023 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 4,046 | 5,108 |
Financing receivable, current loans | 234,723 | 248,376 |
Financing receivable, total recorded investment | 238,769 | 253,484 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 3,345 | 3,624 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 701 | 1,484 |
Commercial Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total recorded investment | 744,674 | 763,722 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 963 | 762 |
Financing receivable, current loans | 687,095 | 702,377 |
Financing receivable, total recorded investment | 688,058 | 703,139 |
Commercial Segment [Member] | Commercial Real Estate [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 963 | 762 |
Commercial Segment [Member] | Commercial Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 0 | 0 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 231 | 243 |
Financing receivable, current loans | 56,385 | 60,340 |
Financing receivable, total recorded investment | 56,616 | 60,583 |
Commercial Segment [Member] | Commercial and Industrial [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 231 | 70 |
Commercial Segment [Member] | Commercial and Industrial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 0 | 173 |
Consumer Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total recorded investment | 129,242 | 131,570 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 770 | 748 |
Financing receivable, current loans | 117,637 | 119,688 |
Financing receivable, total recorded investment | 118,407 | 120,436 |
Consumer Segment [Member] | Home Equity [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 442 | 446 |
Consumer Segment [Member] | Home Equity [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 328 | 302 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 57 | 99 |
Financing receivable, current loans | 10,778 | 11,035 |
Financing receivable, total recorded investment | 10,835 | 11,134 |
Consumer Segment [Member] | Other [Member] | Financial Asset, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | 45 | 78 |
Consumer Segment [Member] | Other [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, total delinquent loans | $ 12 | $ 21 |
Loans Receivable And Allowanc_6
Loans Receivable And Allowance For Credit Losses (Recorded Investment in Loans, Nonaccrual) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 |
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | $ 7,091 | $ 7,541 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 4,159 | 4,436 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 1,395 | 1,023 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 835 | 1,551 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 187 | 0 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 175 | 173 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | 328 | 337 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Financing receivable, nonaccrual loans | $ 12 | $ 21 |
Loans Receivable And Allowanc_7
Loans Receivable And Allowance For Credit Losses (Recorded Investment In Classified Loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | $ 7,438,642 | $ 7,425,973 |
Special Mention [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 68,922 | 69,780 |
Substandard [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 31,263 | 29,956 |
One- to Four-Family Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 6,564,726 | 6,530,681 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 3,951,004 | 3,895,783 |
One- to Four-Family Segment [Member] | Originated [Member] | Special Mention [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 12,558 | 12,941 |
One- to Four-Family Segment [Member] | Originated [Member] | Substandard [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 16,901 | 15,628 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 2,374,953 | 2,381,414 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | Special Mention [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 3,102 | 2,349 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | Substandard [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 3,248 | 2,785 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 238,769 | 253,484 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | Special Mention [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 100 | 102 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | Substandard [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 5,080 | 5,294 |
Commercial Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 744,674 | 763,722 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 688,058 | 703,139 |
Commercial Segment [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 51,556 | 52,891 |
Commercial Segment [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 2,599 | 2,472 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 56,616 | 60,583 |
Commercial Segment [Member] | Commercial and Industrial [Member] | Special Mention [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 1,232 | 1,215 |
Commercial Segment [Member] | Commercial and Industrial [Member] | Substandard [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 2,752 | 3,057 |
Consumer Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 129,242 | 131,570 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 118,407 | 120,436 |
Consumer Segment [Member] | Home Equity [Member] | Special Mention [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 366 | 280 |
Consumer Segment [Member] | Home Equity [Member] | Substandard [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 673 | 696 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 10,835 | 11,134 |
Consumer Segment [Member] | Other [Member] | Special Mention [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | 8 | 2 |
Consumer Segment [Member] | Other [Member] | Substandard [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing receivable, total recorded investment | $ 10 | $ 24 |
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 | Dec. 31, 2019 | Sep. 30, 2019 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Weighted average credit score | 766 | 766 |
Weighted average LTV | 62.00% | 62.00% |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Weighted average credit score | 768 | 768 |
Weighted average LTV | 62.00% | 62.00% |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Weighted average credit score | 764 | 765 |
Weighted average LTV | 65.00% | 65.00% |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Weighted average credit score | 763 | 762 |
Weighted average LTV | 61.00% | 61.00% |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Weighted average credit score | 754 | 754 |
Weighted average LTV | 19.00% | 19.00% |
Loans Receivable And Allowanc_9
Loans Receivable And Allowance For Credit Losses (Troubled Debt Restructurings On Financing Receivables) (Details) $ in Thousands | 3 Months Ended | |
Dec. 31, 2019USD ($)contract | Dec. 31, 2018USD ($)contract | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 3 | 1 |
Pre-Restructured Outstanding | $ 178 | $ 117 |
Post-Restructured Outstanding | $ 236 | $ 117 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 2 | 1 |
Pre-Restructured Outstanding | $ 103 | $ 117 |
Post-Restructured Outstanding | $ 102 | $ 117 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 0 | 0 |
Pre-Restructured Outstanding | $ 0 | $ 0 |
Post-Restructured Outstanding | $ 0 | $ 0 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 1 | 0 |
Pre-Restructured Outstanding | $ 75 | $ 0 |
Post-Restructured Outstanding | $ 134 | $ 0 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 0 | 0 |
Pre-Restructured Outstanding | $ 0 | $ 0 |
Post-Restructured Outstanding | $ 0 | $ 0 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 0 | 0 |
Pre-Restructured Outstanding | $ 0 | $ 0 |
Post-Restructured Outstanding | $ 0 | $ 0 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 0 | 0 |
Pre-Restructured Outstanding | $ 0 | $ 0 |
Post-Restructured Outstanding | $ 0 | $ 0 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 0 | 0 |
Pre-Restructured Outstanding | $ 0 | $ 0 |
Post-Restructured Outstanding | $ 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 | |
Dec. 31, 2019USD ($)contract | Dec. 31, 2018USD ($)contract | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 2 | 0 |
Recorded Investment | $ | $ 172 | $ 0 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 1 | 0 |
Recorded Investment | $ | $ 38 | $ 0 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 1 | 0 |
Recorded Investment | $ | $ 134 | $ 0 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 0 | 0 |
Recorded Investment | $ | $ 0 | $ 0 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Contracts | contract | 0 | 0 |
Recorded Investment | $ | $ 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 | Dec. 31, 2019 | Sep. 30, 2019 |
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Recorded Investment | $ 21,671 | $ 21,794 |
Impaired loans with no related allowance, Unpaid Principal Balance | 23,352 | 23,445 |
Impaired loans with related allowance, Recorded Investment | 2,432 | 0 |
Impaired loans with related allowance, Unpaid Principal Balance | 2,432 | 0 |
Impaired loans, Recorded Investment | 24,103 | 21,794 |
Impaired loans, Unpaid Principal Balance | 25,784 | 23,445 |
Impaired loans, Related ACL | 225 | 0 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Recorded Investment | 14,568 | 14,683 |
Impaired loans with no related allowance, Unpaid Principal Balance | 15,135 | 15,241 |
Impaired loans with related allowance, Recorded Investment | 0 | 0 |
Impaired loans with related allowance, Unpaid Principal Balance | 0 | 0 |
Impaired loans, Recorded Investment | 14,568 | 14,683 |
Impaired loans, Unpaid Principal Balance | 15,135 | 15,241 |
Impaired loans, Related ACL | 0 | 0 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Recorded Investment | 1,756 | 1,763 |
Impaired loans with no related allowance, Unpaid Principal Balance | 1,861 | 1,868 |
Impaired loans with related allowance, Recorded Investment | 0 | 0 |
Impaired loans with related allowance, Unpaid Principal Balance | 0 | 0 |
Impaired loans, Recorded Investment | 1,756 | 1,763 |
Impaired loans, Unpaid Principal Balance | 1,861 | 1,868 |
Impaired loans, Related ACL | 0 | 0 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Recorded Investment | 5,020 | 4,943 |
Impaired loans with no related allowance, Unpaid Principal Balance | 5,737 | 5,661 |
Impaired loans with related allowance, Recorded Investment | 0 | 0 |
Impaired loans with related allowance, Unpaid Principal Balance | 0 | 0 |
Impaired loans, Recorded Investment | 5,020 | 4,943 |
Impaired loans, Unpaid Principal Balance | 5,737 | 5,661 |
Impaired loans, Related ACL | 0 | 0 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Recorded Investment | 0 | 0 |
Impaired loans with no related allowance, Unpaid Principal Balance | 0 | 0 |
Impaired loans with related allowance, Recorded Investment | 0 | 0 |
Impaired loans with related allowance, Unpaid Principal Balance | 0 | 0 |
Impaired loans, Recorded Investment | 0 | 0 |
Impaired loans, Unpaid Principal Balance | 0 | 0 |
Impaired loans, Related ACL | 0 | 0 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Recorded Investment | 0 | 60 |
Impaired loans with no related allowance, Unpaid Principal Balance | 148 | 184 |
Impaired loans with related allowance, Recorded Investment | 2,432 | 0 |
Impaired loans with related allowance, Unpaid Principal Balance | 2,432 | 0 |
Impaired loans, Recorded Investment | 2,432 | 60 |
Impaired loans, Unpaid Principal Balance | 2,580 | 184 |
Impaired loans, Related ACL | 225 | 0 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Recorded Investment | 327 | 345 |
Impaired loans with no related allowance, Unpaid Principal Balance | 440 | 462 |
Impaired loans with related allowance, Recorded Investment | 0 | 0 |
Impaired loans with related allowance, Unpaid Principal Balance | 0 | 0 |
Impaired loans, Recorded Investment | 327 | 345 |
Impaired loans, Unpaid Principal Balance | 440 | 462 |
Impaired loans, Related ACL | 0 | 0 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Recorded Investment | 0 | 0 |
Impaired loans with no related allowance, Unpaid Principal Balance | 31 | 29 |
Impaired loans with related allowance, Recorded Investment | 0 | 0 |
Impaired loans with related allowance, Unpaid Principal Balance | 0 | 0 |
Impaired loans, Recorded Investment | 0 | 0 |
Impaired loans, Unpaid Principal Balance | 31 | 29 |
Impaired loans, Related ACL | $ 0 | $ 0 |
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 | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Average Recorded Investment | $ 21,729 | $ 26,479 |
Impaired loans with no related allowance, Interest Income Recognized | 237 | 259 |
Impaired loans with related allowance, Average Recorded Investment | 608 | 0 |
Impaired loans with related allowance, Interest Income Recognized | 12 | 0 |
Impaired loans, Average Recorded Investment | 22,337 | 26,479 |
Impaired loans, Interest Income Recognized | 249 | 259 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Average Recorded Investment | 14,621 | 18,049 |
Impaired loans with no related allowance, Interest Income Recognized | 161 | 185 |
Impaired loans with related allowance, Average Recorded Investment | 0 | 0 |
Impaired loans with related allowance, Interest Income Recognized | 0 | 0 |
Impaired loans, Average Recorded Investment | 14,621 | 18,049 |
Impaired loans, Interest Income Recognized | 161 | 185 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Average Recorded Investment | 1,760 | 2,309 |
Impaired loans with no related allowance, Interest Income Recognized | 18 | 22 |
Impaired loans with related allowance, Average Recorded Investment | 0 | 0 |
Impaired loans with related allowance, Interest Income Recognized | 0 | 0 |
Impaired loans, Average Recorded Investment | 1,760 | 2,309 |
Impaired loans, Interest Income Recognized | 18 | 22 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Average Recorded Investment | 4,978 | 5,632 |
Impaired loans with no related allowance, Interest Income Recognized | 52 | 43 |
Impaired loans with related allowance, Average Recorded Investment | 0 | 0 |
Impaired loans with related allowance, Interest Income Recognized | 0 | 0 |
Impaired loans, Average Recorded Investment | 4,978 | 5,632 |
Impaired loans, Interest Income Recognized | 52 | 43 |
Commercial Segment [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Average Recorded Investment | 0 | 0 |
Impaired loans with no related allowance, Interest Income Recognized | 0 | 0 |
Impaired loans with related allowance, Average Recorded Investment | 0 | 0 |
Impaired loans with related allowance, Interest Income Recognized | 0 | 0 |
Impaired loans, Average Recorded Investment | 0 | 0 |
Impaired loans, Interest Income Recognized | 0 | 0 |
Commercial Segment [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Average Recorded Investment | 33 | 0 |
Impaired loans with no related allowance, Interest Income Recognized | 0 | 0 |
Impaired loans with related allowance, Average Recorded Investment | 608 | 0 |
Impaired loans with related allowance, Interest Income Recognized | 12 | 0 |
Impaired loans, Average Recorded Investment | 641 | 0 |
Impaired loans, Interest Income Recognized | 12 | 0 |
Consumer Segment [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Average Recorded Investment | 337 | 489 |
Impaired loans with no related allowance, Interest Income Recognized | 6 | 9 |
Impaired loans with related allowance, Average Recorded Investment | 0 | 0 |
Impaired loans with related allowance, Interest Income Recognized | 0 | 0 |
Impaired loans, Average Recorded Investment | 337 | 489 |
Impaired loans, Interest Income Recognized | 6 | 9 |
Consumer Segment [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans with no related allowance, Average Recorded Investment | 0 | 0 |
Impaired loans with no related allowance, Interest Income Recognized | 0 | 0 |
Impaired loans with related allowance, Average Recorded Investment | 0 | 0 |
Impaired loans with related allowance, Interest Income Recognized | 0 | 0 |
Impaired loans, Average Recorded Investment | 0 | 0 |
Impaired loans, Interest Income Recognized | $ 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 | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning Balance | $ 9,226 | $ 8,463 |
Charge-offs | (48) | (56) |
Recoveries | 32 | 151 |
Provision for credit losses | 225 | 0 |
Ending Balance | 9,435 | 8,558 |
One- to Four-Family Segment [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning Balance | 3,890 | 5,739 |
Charge-offs | (18) | (46) |
Recoveries | 0 | 92 |
Provision for credit losses | (13) | (440) |
Ending Balance | 3,859 | 5,345 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning Balance | 2,000 | 2,953 |
Charge-offs | (18) | (20) |
Recoveries | 0 | 3 |
Provision for credit losses | 65 | (175) |
Ending Balance | 2,047 | 2,761 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning Balance | 1,203 | 1,861 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision for credit losses | (3) | (113) |
Ending Balance | 1,200 | 1,748 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning Balance | 687 | 925 |
Charge-offs | 0 | (26) |
Recoveries | 0 | 89 |
Provision for credit losses | (75) | (152) |
Ending Balance | 612 | 836 |
Commercial Segment [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning Balance | 5,171 | 2,556 |
Charge-offs | (24) | 0 |
Recoveries | 27 | 2 |
Provision for credit losses | 244 | 476 |
Ending Balance | 5,418 | 3,034 |
Consumer Segment [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning Balance | 165 | 168 |
Charge-offs | (6) | (10) |
Recoveries | 5 | 57 |
Provision for credit losses | (6) | (36) |
Ending Balance | $ 158 | $ 179 |
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 | Dec. 31, 2019 | Sep. 30, 2019 |
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | $ 7,414,539 | $ 7,404,179 |
Recorded investment in loans individually evaluated for impairment | 24,103 | 21,794 |
Financing receivable, total recorded investment | 7,438,642 | 7,425,973 |
ACL for loans collectively evaluated for impairment | 9,210 | 9,226 |
ACL for loans individually evaluated for impairment | 225 | 0 |
One- to Four-Family Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 6,543,382 | 6,509,292 |
Recorded investment in loans individually evaluated for impairment | 21,344 | 21,389 |
Financing receivable, total recorded investment | 6,564,726 | 6,530,681 |
ACL for loans collectively evaluated for impairment | 3,859 | 3,890 |
ACL for loans individually evaluated for impairment | 0 | 0 |
One- to Four-Family Segment [Member] | Originated [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 3,936,436 | 3,881,100 |
Recorded investment in loans individually evaluated for impairment | 14,568 | 14,683 |
Financing receivable, total recorded investment | 3,951,004 | 3,895,783 |
ACL for loans collectively evaluated for impairment | 2,047 | 2,000 |
ACL for loans individually evaluated for impairment | 0 | 0 |
One- to Four-Family Segment [Member] | Correspondent Purchased [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 2,373,197 | 2,379,651 |
Recorded investment in loans individually evaluated for impairment | 1,756 | 1,763 |
Financing receivable, total recorded investment | 2,374,953 | 2,381,414 |
ACL for loans collectively evaluated for impairment | 1,200 | 1,203 |
ACL for loans individually evaluated for impairment | 0 | 0 |
One- to Four-Family Segment [Member] | Bulk Purchased [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 233,749 | 248,541 |
Recorded investment in loans individually evaluated for impairment | 5,020 | 4,943 |
Financing receivable, total recorded investment | 238,769 | 253,484 |
ACL for loans collectively evaluated for impairment | 612 | 687 |
ACL for loans individually evaluated for impairment | 0 | 0 |
Commercial Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 742,242 | 763,662 |
Recorded investment in loans individually evaluated for impairment | 2,432 | 60 |
Financing receivable, total recorded investment | 744,674 | 763,722 |
ACL for loans collectively evaluated for impairment | 5,193 | 5,171 |
ACL for loans individually evaluated for impairment | 225 | 0 |
Consumer Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment in loans collectively evaluated for impairment | 128,915 | 131,225 |
Recorded investment in loans individually evaluated for impairment | 327 | 345 |
Financing receivable, total recorded investment | 129,242 | 131,570 |
ACL for loans collectively evaluated for impairment | 158 | 165 |
ACL for loans individually evaluated for impairment | $ 0 | $ 0 |
Borrowed Funds (Narrative) (Det
Borrowed Funds (Narrative) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |||
Interest rate swaps, notional amount | $ 640,000,000 | $ 640,000,000 | |
FHLB advances, variable rate | $ 640,000,000 | $ 640,000,000 | |
Interest rate swaps, remaining term to maturity | 4 years 2 months 12 days | 4 years 6 months | |
Interest rate swaps, fair value | $ (25,900,000) | $ (33,100,000) | |
Interest rate swaps, amount reclassified from AOCI | 709,000 | $ 151,000 | |
Interest rate swaps, amount of hedge ineffectiveness recognized | 0 | ||
Interest rate swaps, future amount to be reclassified from AOCI | 5,900,000 | ||
Interest rate swaps, collateral posted | $ 26,600,000 | $ 33,300,000 |
Fair Value Of Financial Instr_3
Fair Value Of Financial Instruments (Narrative) (Details) - Significant Unobservable Inputs (Level 3) [Member] $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans individually evaluated for impairment | $ 3,900 | $ 1,800 |
OREO | 193 | 192 |
Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans individually evaluated for impairment | 3,900 | 1,800 |
OREO | $ 193 | $ 192 |
Fair Value, Nonrecurring [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, Nonrecurring [Member] | Lack of Marketability [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans receivable, measurement input | 0.10 | |
Fair Value, Nonrecurring [Member] | Lack of Marketability [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans receivable, measurement input | 0.50 | |
Fair Value, Nonrecurring [Member] | Lack of Marketability [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans receivable, measurement input | 0.18 |
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 | Dec. 31, 2019 | Sep. 30, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | $ 1,229,587 | $ 1,204,863 |
GSE Debentures [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 275,155 | 249,954 |
MBS [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 937,317 | 936,487 |
Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 17,115 | 18,422 |
Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 1,229,587 | 1,204,863 |
Interest rate swaps | 25,925 | 33,090 |
Fair Value, 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 |
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 1,229,587 | 1,204,863 |
Interest rate swaps | 25,925 | 33,090 |
Fair Value, 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 |
Fair Value, Recurring [Member] | GSE Debentures [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 937,317 | 936,487 |
Fair Value, 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, 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 | 937,317 | 936,487 |
Fair Value, 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, Recurring [Member] | MBS [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 275,155 | 249,954 |
Fair Value, 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, 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 | 275,155 | 249,954 |
Fair Value, 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, Recurring [Member] | Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
AFS securities | 17,115 | 18,422 |
Fair Value, 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, 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 | 17,115 | 18,422 |
Fair Value, 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 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Assets: | |||
AFS securities | $ 1,229,587 | $ 1,204,863 | |
Significant Unobservable Inputs (Level 3) [Member] | |||
Assets: | |||
Loans receivable | 3,900 | $ 1,800 | |
Carrying Amount [Member] | |||
Assets: | |||
Cash and cash equivalents | 70,703 | 220,370 | |
AFS securities | 1,229,587 | 1,204,863 | |
Loans receivable | 7,429,207 | 7,416,747 | |
FHLB stock | 99,861 | 98,456 | |
Liabilities: | |||
Deposits | 5,585,851 | 5,581,867 | |
Borrowings | 2,189,991 | 2,239,989 | |
Interest rate swaps | 25,925 | 33,090 | |
Estimated Fair Value [Member] | |||
Assets: | |||
Cash and cash equivalents | 70,703 | 220,370 | |
AFS securities | 1,229,587 | 1,204,863 | |
Loans receivable | 7,646,224 | 7,654,586 | |
FHLB stock | 99,861 | 98,456 | |
Liabilities: | |||
Deposits | 5,615,034 | 5,614,895 | |
Borrowings | 2,203,925 | 2,253,353 | |
Interest rate swaps | 25,925 | 33,090 | |
Estimated Fair Value [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Assets: | |||
Cash and cash equivalents | 70,703 | 220,370 | |
AFS securities | 0 | 0 | |
Loans receivable | 0 | 0 | |
FHLB stock | 99,861 | 98,456 | |
Liabilities: | |||
Deposits | 2,665,536 | 2,594,242 | |
Borrowings | 100,001 | 100,001 | |
Interest rate swaps | 0 | 0 | |
Estimated Fair Value [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Assets: | |||
Cash and cash equivalents | 0 | 0 | |
AFS securities | 1,229,587 | 1,204,863 | |
Loans receivable | 0 | 0 | |
FHLB stock | 0 | 0 | |
Liabilities: | |||
Deposits | 2,949,498 | 3,020,653 | |
Borrowings | 2,103,924 | 2,153,352 | |
Interest rate swaps | 25,925 | 33,090 | |
Estimated Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Assets: | |||
Cash and cash equivalents | 0 | 0 | |
AFS securities | 0 | 0 | |
Loans receivable | 7,646,224 | 7,654,586 | |
FHLB stock | 0 | 0 | |
Liabilities: | |||
Deposits | 0 | 0 | |
Borrowings | 0 | 0 | |
Interest rate swaps | $ 0 | $ 0 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | $ (14,899) | |
Other comprehensive income (loss) | 4,972 | $ (6,217) |
Ending balance | (9,927) | |
Unrealized Gains (Losses) on AFS Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | 10,150 | (2,990) |
Other comprehensive income (loss), before reclassifications | (452) | 3,527 |
Amount reclassified from AOCI | 0 | 0 |
Other comprehensive income (loss) | (452) | 3,527 |
Ending balance | 9,698 | 537 |
Unrealized Gains (Losses) on Cash Flow Hedges [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | (25,049) | 7,330 |
Other comprehensive income (loss), before reclassifications | 4,715 | (9,895) |
Amount reclassified from AOCI | 709 | 151 |
Other comprehensive income (loss) | 5,424 | (9,744) |
Ending balance | (19,625) | (2,414) |
AOCI [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | (14,899) | 4,340 |
Other comprehensive income (loss), before reclassifications | 4,263 | (6,368) |
Amount reclassified from AOCI | 709 | 151 |
Other comprehensive income (loss) | 4,972 | (6,217) |
Ending balance | $ (9,927) | $ (1,877) |
Revenue Recognition (Narrative)
Revenue Recognition (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | ||
Revenue from contracts with customers | $ 4,000 | $ 4,300 |
Interchange network charges | $ 832 | $ 944 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2019 | Oct. 01, 2019 | |
Lessee, Lease, Description [Line Items] | ||
Right-of-use asset, amount | $ 15,400 | $ 15,700 |
Right-of-use asset, balance sheet location | us-gaap:OtherAssets | |
Lease liability, amount | $ 15,295 | $ 15,500 |
Lease liability, balance sheet location | us-gaap:AccountsPayableAndOtherAccruedLiabilities | |
Operating leases, weighted average remaining lease term | 23 years 3 months 18 days | |
Operating leases, weighted average discount rate | 2.70% | |
Operating lease expense | $ 389 | |
Variable lease expense | 50 | |
Short-term lease expense | 9 | |
Cash paid for amounts included in the measurement of lease liabilities | $ 344 | |
Minimum [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Operating leases, remaining term | 1 year | |
Maximum [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Operating leases, remaining term | 48 years |
Leases (Schedule of Future Mini
Leases (Schedule of Future Minimum Payments for Operating Leases) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Oct. 01, 2019 |
Leases [Abstract] | ||
2020 | $ 1,267 | |
2021 | 1,345 | |
2022 | 1,332 | |
2023 | 1,160 | |
2024 | 978 | |
Thereafter | 16,023 | |
Total future minimum lease payments | 22,105 | |
Amounts representing interest | (6,810) | |
Present value of net future minimum lease payments | $ 15,295 | $ 15,500 |
Leases (Schedule of Future Mi_2
Leases (Schedule of Future Minimum Rental Commitments) (Details) $ in Thousands | Sep. 30, 2019USD ($) |
Leases [Abstract] | |
2020 | $ 1,298 |
2021 | 1,187 |
2022 | 1,069 |
2023 | 930 |
2024 | 637 |
Thereafter | 1,115 |
Future minimum rental commitments, total | $ 6,236 |