v3.22.4
Derivative Instruments (Tables)
 3 Months Ended
Dec. 31, 2022
Summary of Derivative Instruments [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following tables provide the notional values and fair values, and the locations of the fair values within the CONSOLIDATED STATEMENTS OF CONDITION, at the reporting dates, for all derivative instruments.
December 31, 2022
Weighted Average
Notional ValueFair ValueTerm (years)Fixed-Rate Payments
Derivatives designated as hedging instruments
Cash flow hedges: Interest rate swaps
Other Assets
LIBOR swaps (1)
$1,475,000 $— 2.61.87 %
SOFR swaps (2)
400,000 — 6.63.35 %
Other Liabilities
SOFR swaps (2)
75,000 $— 4.93.82 %
Total cash flow hedges: Interest rate swaps$1,950,000 $— 3.52.25 %

September 30, 2022
Weighted Average
Notional ValueFair ValueTerm (years)Fixed-Rate Payments
Cash flow hedges: Interest rate swaps
Other Assets
LIBOR swaps (1)
$1,550,000 $— 2.71.88 %
Total cash flow hedges: Interest rate swaps$1,550,000 $— 2.71.88 %
(1) LIBOR swap contracts that remain outstanding at July 2023 will transition to a SOFR-based rate.
(2) All swap contracts entered into after October 1st, 2022 are based on a SOFR-based rate.

December 31, 2022September 30, 2022
Notional ValueFair ValueNotional ValueFair Value
Derivatives not designated as hedging instruments
Interest rate lock commitments
Other Liabilities$4,385 $(29)$9,170 $(333)
Forward Commitments for the sale of mortgage loans
Other Assets4,397 — — — 
Total derivatives not designated as hedging instruments$8,782 $(29)$9,170 $(333)
Schedule of Effect of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following tables present the net gains and losses recorded within the CONSOLIDATED STATEMENTS OF INCOME and the CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME relating to derivative instruments.
Three Months Ended
 Location of Gain or (Loss) December 31,
 Recognized in Income20222021
Cash flow hedges
Amount of gain/(loss) recognizedOther comprehensive income$9,104 $15,893 
Amount of gain/(loss) reclassified from AOCIInterest expense: Borrowed funds 6,624 (10,801)
Derivatives not designated as hedging instruments
Interest rate lock commitmentsOther non-interest income$304 $(278)
Forward commitments for the sale of mortgage loansNet gain/(loss) on the sale of loans— (22)