MBS And Other Investments (Tables)

9 Months Ended

Jun. 30, 2013

Investments [Abstract]

Marketable Securities

MBS and other investments have been classified according to management’s intent and are as follows as of June 30, 2013 and September 30, 2012 (dollars in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
June 30, 2013
Held to Maturity
MBS:
U.S. government agencies	$	1,272	$	36	$	(2	)	$	1,306
Private label residential	1,607		725		(14		)	2,318
U.S. agency securities	13		2		—			15
Total	$	2,892	$	763	$	(16	)	$	3,639
Available for Sale
MBS:
U.S. government agencies	$	2,314	$	109	$	—		$	2,423
Private label residential	856		136		(6		)	986
Mutual funds	1,000		—		(39		)	961
Total	$	4,170	$	245	$	(45	)	$	4,370
September 30, 2012
Held to Maturity
MBS:
U.S. government agencies	$	1,493	$	44	$	(3	)	$	1,534
Private label residential	1,819		309		(60		)	2,068
U.S. agency securities	27		3		—			30
Total	$	3,339	$	356	$	(63	)	$	3,632
Available for Sale
MBS:
U.S. government agencies	$	2,828	$	147	$	—		$	2,975
Private label residential	1,001		65		(109		)	957
Mutual funds	1,000		13		—			1,013
Total	$	4,829	$	225	$	(109	)	$	4,945

Unrealized Gain (Loss) on Investments

The following table summarizes the estimated fair value and gross unrealized losses for all securities and the length of time these unrealized losses existed as of June 30, 2013 (dollars in thousands):

	Less Than 12 Months						12 Months or Longer						Total
	Estimated  Fair  Value		Gross Unrealized Losses			Qty	Estimated  Fair  Value		Gross Unrealized Losses			Qty	Estimated  Fair  Value		Gross Unrealized Losses
Held to Maturity
MBS:
U.S. government agencies	$	1	$	—		4	$	91	$	(2	)	4	$	92	$	(2	)
Private label residential	79		(5		)	3	250		(9		)	15	329		(14		)
Total	$	80	$	(5	)	7	$	341	$	(11	)	19	$	421	$	(16	)
Available for Sale
MBS:
U.S. government agencies	$	49	$	—		1	$	—	$	—		—	$	49	$	—
Private label residential	—		—			—	125		(6		)	2	125		(6		)
Mutual Funds	961		(39		)	1	—		—			—	961		(39		)
Total	$	1,010	$	(39	)	2	$	125	$	(6	)	2	$	1,135	$	(45	)

The following table summarizes the estimated fair value and gross unrealized losses for all securities and the length of time the unrealized losses existed as of September 30, 2012 (dollars in thousands):

	Less Than 12 Months						12 Months or Longer						Total
	Estimated  Fair  Value		Gross Unrealized Losses			Qty	Estimated  Fair  Value		Gross Unrealized Losses			Qty	Estimated  Fair  Value		Gross Unrealized Losses
Held to Maturity
MBS:
U.S. government agencies	$	7	$	—		1	$	100	$	(3	)	4	$	107	$	(3	)
Private label residential	17		(1		)	1	423		(59		)	28	440		(60		)
Total	$	24	$	(1	)	2	$	523	$	(62	)	32	$	547	$	(63	)
Available for Sale
MBS:
Private label residential	$	—	$	—		—	$	651	$	(109	)	4	$	651	$	(109	)
Total	$	—	$	—		—	$	651	$	(109	)	4	$	651	$	(109	)

Schedule of Significant Inputs Utilized to Measure Estimate of Credit Loss Component on OTTI Securities

The following table presents a summary of the significant inputs utilized to measure management’s estimate of the credit loss component on OTTI securities as of June 30, 2013 and September 30, 2012:

	Range				Weighted
	Minimum		Maximum		Average
At June 30, 2013
Constant prepayment rate	6.00	%	15.00	%	10.00	%
Collateral default rate	0.19	%	23.90	%	7.26	%
Loss severity rate	2.48	%	73.69	%	47.63	%
At September 30, 2012
Constant prepayment rate	6.00	%	15.00	%	8.77	%
Collateral default rate	0.06	%	28.40	%	8.74	%
Loss severity rate	0.52	%	76.03	%	48.28	%

Schedule of Other than Temporary Impairments

The following tables present the OTTI for the three and nine months ended June 30, 2013 and 2012 (dollars in thousands):

	Three Months Ended June 30, 2013						Three Months Ended June 30, 2012
	Held To Maturity			Available For Sale			Held To Maturity			Available For Sale
Total OTTI	$	—		$	(1	)	$	(60	)	$	—
Adjustment for portion recorded as (transferred from)        other comprehensive income (loss) before taxes (1)	(2		)	—			23			—
Net OTTI recognized in earnings (2)	$	(2	)	$	(1	)	$	(37	)	$	—
	Nine Months Ended June 30, 2013						Nine Months Ended June 30, 2012
	Held To Maturity			Available For Sale			Held To Maturity			Available For Sale
Total OTTI	$	(7	)	$	(2	)	$	(139	)	$	(43	)
Adjustment for portion recorded as (transferred from) other comprehensive income (loss) before taxes (1)	(30		)	—			(8		)	—
Net OTTI recognized in earnings (2)	$	(37	)	$	(2	)	$	(147	)	$	(43	)

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(1) Represents OTTI related to all other factors.

(2) Represents OTTI related to credit losses.

Other than Temporary Impairment, Credit Losses Recognized in Earnings

The following table presents a roll-forward of the credit loss component of held to maturity and available for sale debt securities that have been written down for OTTI with the credit loss component recognized in earnings and the remaining impairment loss related to all other factors recognized in other comprehensive income for the nine months ended June 30, 2013 and 2012 (in thousands):

	Nine Months Ended June 30,
	2013			2012
Beginning balance of credit loss	$	2,703		$	3,361
Additions:
Credit losses for which OTTI was not previously recognized	5			81
Additional increases to the amount related to credit loss for which OTTI was previously recognized	39			109
Subtractions:
Realized losses previously recorded as credit losses	(571		)	(661		)
Ending balance of credit loss	$	2,176		$	2,890

Schedule of Contractual Maturities of Debt Securities

The contractual maturities of debt securities at June 30,2013 were as follows (dollars in thousands).  Expected maturities may differ from scheduled maturities as a result of the prepayment of principal or call provisions.

	Held to Maturity				Available for Sale
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due within one year	$	—	$	—	$	—	$	—
Due after one year to five years	23		25		30		31
Due after five to ten years	27		26		18		18
Due after ten years	2,842		3,588		3,122		3,360
Total	$	2,892	$	3,639	$	3,170	$	3,409