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Loans Receivable and Allowance for Loan Losses (Tables)
 3 Months Ended
Dec. 31, 2017
Receivables [Abstract]  
Schedule of loans receivable
Loans receivable at December 31, 2017 and September 30, 2017 are summarized as follows:

 
December 31,
 
September 30,
 
2017
 
2017
 
(In thousands)
Real estate loans:
 
 
 
One to four family
$
1,616,259


$
1,578,835

Multifamily and commercial
1,871,210


1,821,982

Construction
233,652


218,408

Commercial business loans
277,970


267,664

Consumer loans:



Home equity loans and advances
448,020


464,962

Other consumer loans
998


1,270

Total loans
4,448,109


4,353,121

Net deferred loan costs
10,539


9,135

Allowance for loan losses
(58,178
)

(54,633
)
Loans receivable, net
$
4,400,470


$
4,307,623
Schedule of aging of loans receivable by portfolio segment
The following tables summarize the aging of loans receivable by portfolio segment at December 31, 2017 and September 30, 2017:
 
December 31, 2017
 
30-59 days

60-89 days

Greater than 90 days

Total past due

Current

Total
 
(In Thousands)
Real estate loans:
 
 
 
 
 
 
 
 
 
 
 
One to four family
$
7,080


1,229


3,360


11,669


1,604,590


$
1,616,259

Multifamily and commercial
138


380


1,329


1,847


1,869,363


1,871,210

Construction
—


—


—


—


233,652


233,652

Commercial business loans
89


730


1,263


2,082


275,888


277,970

Consumer loans:











Home equity loans advances
1,421


26


573


2,020


446,000


448,020

Other consumer loans
—


—


—


—


998


998

Total loans
$
8,728


2,365


6,525


17,618


4,430,491


$
4,448,109


 
September 30, 2017
 
30-59 days

60-89 days

Greater than 90 days

Total past due

Current

Total
 
(In thousands)
Real estate loans:
 
 
 
 
 
 
 
 
 
 
 
One to four family
$
3,924


932


3,496


8,352


1,570,483


$
1,578,835

Multifamily and commercial
—


123


1,510


1,633


1,820,349


1,821,982

Construction
—


—


—


—


218,408


218,408

Commercial business loans
—


388


1,038


1,426


266,238


267,664

Consumer loans:











Home equity loans advances
1,437


187


351


1,975


462,987


464,962

Other consumer loans
1


—


—


1


1,269


1,270

Total loans
$
5,362


1,630


6,395


13,387


4,339,734


$
4,353,121
Schedule of loans receivable by portfolio segment and impairment method
The following table summarizes loans receivable and allowance for loan losses by portfolio segment and impairment method:
 
December 31, 2017
 
One to four family

Multifamily and commercial

Construction

Commercial Business

Home equity loans and advances

Other consumer

Unallocated

Total
 
(In thousands)
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
423


28


—


80


15


—


—


$
546

Collectively evaluated for impairment
19,568


19,905


5,217


8,195


4,561


8


178


57,632

Total
$
19,991


19,933


5,217


8,275


4,576


8


178


$
58,178

Total loans:















Ending balance:















Individually evaluated for impairment
$
11,644


3,693


—


4,263


2,591


—


—


$
22,191

Collectively evaluated for impairment
1,604,615


1,867,517


233,652


273,707


445,429


998


—


4,425,918

Total
$
1,616,259


1,871,210


233,652


277,970


448,020


998


—


$
4,448,109


 
September 30, 2017
 
One to four family

Multifamily and commercial

Construction

Commercial Business

Home equity loans and advances

Other consumer

Unallocated

Total
 
(In thousands)
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
407


35


—


84


14


—


—


540

Collectively evaluated for impairment
18,126


17,994


5,299


8,396


4,176


8


94


54,093

Total
18,533


18,029


5,299


8,480


4,190


8


94


54,633

Total loans:















Ending balance:















Individually evaluated for impairment
$
12,247


6,343


—


4,327


2,998


—


—


$
25,915

Collectively evaluated for impairment
1,566,588


1,815,639


218,408


263,337


461,964


1,270


—


4,327,206

Total
$
1,578,835


1,821,982


218,408


267,664


464,962


1,270


—


$
4,353,121

The activity in the allowance for loan losses by portfolio segment at December 31, 2017 and 2016 was as follows:

One to four family

Multifamily and commercial

Construction

Commercial Business

Home equity loans and advances

Other consumer

Unallocated

Total
 
(In Thousands)
2017















Balance at beginning of period
$
18,533


$
18,029


5,299


8,480


4,190


8


94


$
54,633

Provision charged (credited)
1,473


1,906


(82
)

(373
)

389


3


84


3,400

Recoveries
9


—


—


171


6


2


—


188

Charge-offs
(24
)

(2
)

—


(3
)

(9
)

(5
)

—


(43
)
Balance at end of period
$
19,991


19,933


5,217


8,275


4,576


8


178


$
58,178


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2016















Balance at beginning of period
$
18,638


17,390


5,960


5,721


4,052


11


95


$
51,867

Provision charged (credited)
(27
)

226


(1,362
)

641


177


4


341


—

Recoveries
3


—


—


19


6


—


—


28

Charge-offs
(15
)

$
—


—


(23
)

(4
)

(4
)

—


(46
)
Balance at end of period
$
18,599


17,616


4,598


6,358


4,231


11


436


$
51,849
Schedule of troubled debt restructuring
The following tables present the number of loans modified as TDRs during the three months ended December 31, 2017 and December 31, 2016, along with their balances immediately prior to the modification date and post-modification as of December 31, 2017 and December 31, 2016.
 
December 31, 2017
 
December 31, 2016
 
No of loans

Pre-modification recorded investment

Post-modification recorded investment

No of loans

Pre-modification recorded investment

Post-modification recorded investment
 
 
 
(In thousands)
 
 
 
(In thousands)
Troubled Debt Restructurings
 
 
 
 
 
 
 
 
 
 
 
Real estate loans:
 
 
 
 
 
 
 
 
 
 
 
One to four family
—


$
—


$
—

 
2


$
257


$
257

Consumer loans:





 





Home equity loans and advances
—


—


—

 
1


108


108

Total loans
—


$
—


$
—

 
3


$
365


$
365
Schedule of loans individually evaluated for impairment
The following table presents loans individually evaluated for impairment by loan segment:

December 31, 2017

Recorded investment

Unpaid principal balance

Specific allowance

(In thousands)
With no allowance recorded:





Real estate loans:





One to four family
$
8,870


9,704


$
—

Multifamily and commercial
2,058


2,933


—

Commercial business loans
1,522


2,015


—

Consumer loans:





Home equity loans and advances
2,161


2,601


—


$
14,611


17,253


$
—

With a specific allowance recorded:





Real estate loans:





One to four family
$
2,774


2,788


$
423

Multifamily and commercial
1,635


2,208


28

Commercial business loans
2,741


2,741


80

Consumer loans:





Home equity loans and advances
430


430


15


$
7,580


8,167


$
546

Total:





Real estate loans:





One to four family
$
11,644


12,492


$
423

Multifamily and commercial
3,693


5,141


28

Commercial business loans
4,263


4,756


80

Consumer loans:





Home equity loans and advances
2,591


3,031


15

Total loans
$
22,191


25,420


$
546




September 30, 2017

Recorded investment

Unpaid principal balance

Specific allowance

(In thousands)
With no allowance recorded:





Real estate loans:





One to four family
$
9,272


10,156


$
—

Multifamily and commercial
4,701


5,577


—

Commercial business loans
1,545


2,038


—

Consumer loans:





Home equity loans and advances
2,745


3,214


—


$
18,263


20,985


$
—

With a specific allowance recorded:





Real estate loans:





One to four family
$
2,975


2,989


$
407

Multifamily and commercial
1,642


2,215


35

Commercial business loans
2,782


2,782


84

Consumer loans:





Home equity loans and advances






253


253


14

Total:
$
7,652


8,239


$
540

Real estate loans:





One to four family
$
12,247


13,145


$
407

Multifamily and commercial
6,343


7,792


35

Commercial business loans
4,327


4,820


84

Consumer loans:





Home equity loans and advances
2,998


3,467


14

Total loans
$
25,915


29,224


$
540

The following table presents interest income recognized for loans individually evaluated for impairment by loan segment for the three months ended December 31, 2017 and 2016:

December 31, 2017

December 31, 2016

Average recorded Investment

Interest Income Recognized

Average recorded Investment

Interest Income Recognized

(In thousands)

(In thousands)
Real estate loans:










One to four family
$
14,015


$
110


$
16,419


$
118

Multifamily and commercial
4,087


39


4,879


70

Commercial business loans
3,870


46


3,861


49

Consumer loans:











Home equity loans and advances
3,618


35


3,952


34

Total loans
$
25,590


$
230


$
29,111


$
271
Schedule of loans receivable by credit quality risk
The following table presents loans receivable by credit quality risk indicator and by loan segment:
 
December 31, 2017
 
Real Estate
 
 
 
 
 
 
 
One to four family
 
Multifamily and commercial
 
Construction
 
Home equity loans and advances
 
Commercial business
 
Other consumer
 
Total
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pass
$
1,606,672


1,851,772


233,652


446,364


268,355


998


$
4,407,813

Special mention
—


4,782


—


—


3,678


—


8,460

Substandard
9,587


14,656


—


1,656


5,937


—


31,836

Doubtful
—


—


—


—


—


—


—

Total
$
1,616,259


1,871,210


233,652


448,020


277,970


998


$
4,448,109


 
September 30, 2017
 
Real Estate
 
 
 
 
 
 
 
One to four family

Multifamily and commercial

Construction

Home equity loans and advances

Commercial business

Other consumer

Total
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pass
$
1,569,064


1,796,786


218,408


463,257


258,454


1,270


$
4,307,239

Special mention
—


11,600


—


—


3,347


—


14,947

Substandard
9,771


13,596


—


1,705


5,863


—


30,935

Doubtful
—


—


—


—


—


—


—

Total
$
1,578,835


1,821,982


218,408


464,962


267,664


1,270


$
4,353,121