Allowance for Loan Losses

12 Months Ended

Dec. 31, 2019

Allowances 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
Allowance for Loan Losses at December 31, 2019:
Loans individually evaluated for impairment	$	—	$	116	$	116
Loans collectively evaluated for impairment		122,694		24,828		147,522
Total	$	122,694	$	24,944	$	147,638
(in thousands)	Mortgage		Other		Total
Allowance for Loan Losses at December 31, 2018:
Loans collectively evaluated for impairment	$	130,983	$	28,837	$	159,820

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 December 31, 2019:
Loans individually evaluated for impairment	$	19,267	$	39,114	$	58,381
Loans collectively evaluated for impairment		38,802,272		2,983,366		41,785,638
Total	$	38,821,539	$	3,022,480	$	41,844,019
(in thousands)	Mortgage		Other		Total
Loans Receivable at December 31, 2018:
Loans individually evaluated for impairment	$	15,794	$	36,375	$	52,169
Loans collectively evaluated for impairment		37,720,923		2,360,769		40,081,692
Total	$	37,736,717	$	2,397,144	$	40,133,861

Allowance for Loan Losses

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

	For the Twelve Months Ended December 31,
	2019									2018
(in thousands)	Mortgage			Other			Total			Mortgage			Other			Total
Balance, beginning of period	$	130,983		$	28,837		$	159,820		$	128,275		$	29,771		$	158,046
Charge-offs		(1,613	)		(18,694	)		(20,307	)		(5,445	)		(12,897	)		(18,342	)
Recoveries		61			959			1,020			264			1,596			1,860
(Recovery of) provision for losses on loans		(6,737	)		13,842			7,105			7,889			10,367			18,256
Balance, end of period	$	122,694		$	24,944		$	147,638		$	130,983		$	28,837		$	159,820

The following table presents additional information about the Company’s impaired loans at December 31, 2019:

(in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
Impaired loans with no related allowance:
Multi-family	$	3,577	$	6,790	$	—	$	4,336	$	266
Commercial real estate		14,717		19,832		—		6,140		371
One-to-four family		584		602		—		811		21
Acquisition, development, and construction		389		1,289		—		3,508		364
Other		37,669		114,636		—		39,598		2,494
Total impaired loans with no related allowance	$	56,936	$	143,149	$	—	$	54,393	$	3,516
Impaired loans with an allowance recorded:
Multi-family	$	—	$	—	$	—	$	—	$	—
Commercial real estate		—		—		—		—		—
One-to-four family		—		—		—		—		—
Acquisition, development, and construction		—		—		—		—		—
Other		1,445		4,173		116		4,111		13
Total impaired loans with an allowance recorded	$	1,445	$	4,173	$	116	$	4,111	$	13
Total impaired loans:
Multi-family	$	3,577	$	6,790	$	—	$	4,336	$	266
Commercial real estate		14,717		19,832		—		6,140		371
One-to-four family		584		602		—		811		21
Acquisition, development, and construction		389		1,289		—		3,508		364
Other		39,114		118,809		116		43,709		2,507
Total impaired loans	$	58,381	$	147,322	$	116	$	58,504	$	3,529

The following table presents additional information about the Company’s impaired loans at December 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	$	4,220	$	7,168	$	—	$	6,114	$	340
Commercial real estate		2,256		7,371		—		3,234		—
One-to-four family		1,022		1,076		—		1,576		26
Acquisition, development, and construction		8,296		9,197		—		9,238		590
Other		36,375		101,701		—		42,984		3,057
Total impaired loans with no related allowance	$	52,169	$	126,513	$	—	$	63,146	$	4,013
Impaired loans with an allowance recorded:
Multi-family	$	—	$	—	$	—	$	—	$	—
Commercial real estate		—		—		—		—		—
One-to-four family		—		—		—		—		—
Acquisition, development, and construction		—		—		—		—		—
Other		—		—		—		20		—
Total impaired loans with an allowance recorded	$	—	$	—	$	—	$	20	$	—
Total impaired loans:
Multi-family	$	4,220	$	7,168	$	—	$	6,114	$	340
Commercial real estate		2,256		7,371		—		3,234		—
One-to-four family		1,022		1,076		—		1,576		26
Acquisition, development, and construction		8,296		9,197		—		9,238		590
Other		36,375		101,701		—		43,004		3,057
Total impaired loans	$	52,169	$	126,513	$	—	$	63,166	$	4,013