Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2019

Activity in 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

Additional Information Regarding Methods Used to Evaluate Loan Portfolio for Impairment

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

Additional Information Regarding Impaired Non-Covered Loans

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

Non-Covered Loans

Activity in 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