Allowance for Loan Losses

3 Months Ended

Mar. 31, 2018

Allowance for Loan Losses

Note 6. Allowance for Loan Losses

The following tables provide additional information regarding the Company’s allowance for loan losses based upon the method of evaluating loan impairment:

(in thousands)	Mortgage		Other		Total
Allowances for Loan Losses at March 31, 2018:
Loans individually evaluated for impairment	$	—	$	40	$	40
Loans collectively evaluated for impairment		129,135		31,965		161,100
Total	$	129,135	$	32,005	$	161,140
(in thousands)	Mortgage		Other		Total
Allowances for Loan Losses at December 31, 2017:
Loans collectively evaluated for impairment	$	128,275	$	29,771	$	158,046

The following tables provide additional information regarding the methods used to evaluate the Company’s loan portfolio for impairment:

(in thousands)	Mortgage		Other		Total
Loans Receivable at March 31, 2018:
Loans individually evaluated for impairment	$	22,555	$	46,805	$	69,360
Loans collectively evaluated for impairment		36,794,039		1,996,455		38,790,494
Total	$	36,816,594	$	2,043,260	$	38,859,854
(in thousands)	Mortgage		Other		Total
Loans Receivable at December 31, 2017:
Loans individually evaluated for impairment	$	31,747	$	48,810	$	80,557
Loans collectively evaluated for impairment		36,278,241		2,000,224		38,278,465
Total	$	36,309,988	$	2,049,034	$	38,359,022

Allowance for Loan Losses

The following table summarizes activity in the allowance for loan losses for the periods indicated:

	For the Three Months Ended March 31,
	2018									2017 (1)
(in thousands)	Mortgage			Other			Total			Mortgage			Other			Total
Balance, beginning of period	$	128,275		$	29,771		$	158,046		$	125,416		$	32,874		$	158,290
Charge-offs		(5,411	)		(1,580	)		(6,991	)		—			(5,830	)		(5,830	)
Recoveries		110			404			514			115			88			203
Provision for (recovery of) non-covered loan losses		6,161			3,410			9,571			(3,679	)		5,466			1,787
Balance, end of period	$	129,135		$	32,005		$	161,140		$	121,852		$	32,598		$	154,450

(1) Represents allowance for losses on non-covered loans, excluding PCI loans.

The following table presents additional information about the Company’s impaired loans at March 31, 2018:

(in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
Impaired loans with no related allowance:
Multi-family	$	8,433	$	11,130	$	—	$	8,662	$	122
Commercial real estate		2,620		7,735		—		3,879		3
One-to-four family		1,949		2,055		—		1,958		12
Acquisition, development, and construction		9,552		10,452		—		12,652		139
Other		46,766		104,106		—		47,788		725
Total impaired loans with no related allowance	$	69,320	$	135,478	$	—	$	74,939	$	1,001
Impaired loans with an allowance recorded:
Multi-family	$	—	$	—	$	—	$	—	$	—
Commercial real estate		—		—		—		—		—
One-to-four family		—		—		—		—		—
Acquisition, development, and construction		—		—		—		—		—
Other		40		40		40		20		3
Total impaired loans with an allowance recorded	$	40	$	40	$	40	$	20	$	3
Total impaired loans:
Multi-family	$	8,433	$	11,130	$	—	$	8,662	$	122
Commercial real estate		2,620		7,735		—		3,879		3
One-to-four family		1,949		2,055		—		1,958		12
Acquisition, development, and construction		9,552		10,452		—		12,652		139
Other		46,806		104,146		40		47,808		728
Total impaired loans	$	69,360	$	135,518	$	40	$	74,959	$	1,004

The following table presents additional information about the Company’s impaired loans at December 31, 2017:

(in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
Impaired loans with no related allowance:
Multi-family	$	8,892	$	11,470	$	—	$	9,554	$	495
Commercial real estate		5,137		10,252		—		3,522		92
One-to-four family		1,966		2,072		—		2,489		50
Acquisition, development, and construction		15,752		25,952		—		10,976		575
Other		48,810		104,901		—		43,074		2,200
Total impaired loans with no related allowance	$	80,557	$	154,647	$	—	$	69,615	$	3,412
Impaired loans with an allowance recorded:
Multi-family	$	—	$	—	$	—	$	—	$	—
Commercial real estate		—		—		—		—		—
One-to-four family		—		—		—		—		—
Acquisition, development, and construction		—		—		—		—		—
Other		—		—		—		314		—
Total impaired loans with an allowance recorded	$	—	$	—	$	—	$	314	$	—
Total impaired loans:
Multi-family	$	8,892	$	11,470	$	—	$	9,554	$	495
Commercial real estate		5,137		10,252		—		3,522		92
One-to-four family		1,966		2,072		—		2,489		50
Acquisition, development, and construction		15,752		25,952		—		10,976		575
Other		48,810		104,901		—		43,388		2,200
Total impaired loans	$	80,557	$	154,647	$	—	$	69,929	$	3,412