Loans Receivable (excluding Covered Loans) (Tables)

3 Months Ended

Dec. 31, 2013

Schedule of Loans Receivable (excluding Covered Loans)



	December 31, 2013				September 30, 2013
	(In thousands)
Non-acquired loans
Single-family residential	$	5,421,896	66.9	%	$	5,359,149	67.1	%
Construction - speculative	135,868		1.7		130,778		1.6
Construction - custom	333,954		4.1		302,722		3.8
Land - acquisition & development	72,075		0.9		77,775		1.1
Land - consumer lot loans	119,206		1.5		121,671		1.5
Multi-family	842,343		10.4		831,684		10.4
Commercial real estate	433,361		5.3		414,961		5.1
Commercial & industrial	274,432		3.4		243,199		3.0
HELOC	111,577		1.4		112,186		1.4
Consumer	44,142		0.5		47,141		0.6
Total non-acquired loans	7,788,854		96.1		7,641,266		95.6
Acquired loans
Single-family residential	13,856		0.2		14,468		0.2
Construction - speculative	—		—		—		—
Construction - custom	—		—		—		—
Land - acquisition & development	1,206		—		1,489		—
Land - consumer lot loans	3,261		—		3,313		—
Multi-family	3,773		0.1		3,914		0.1
Commercial real estate	117,038		1.4		133,423		1.7
Commercial & industrial	72,594		0.9		75,326		0.9
HELOC	9,538		0.1		10,179		0.1
Consumer	7,754		0.1		8,267		0.1
Total acquired loans	229,020		2.8		250,379		3.1
Credit-impaired acquired loans
Single-family residential	331		—		333		—
Construction - speculative	—		—		—		—
Land - acquisition & development	2,225		—		2,396		—
Multi-family	—		—		—		—
Commercial real estate	71,841		1.0		76,909		1.1
Commercial & industrial	7,140		0.1		7,925		0.1
HELOC	10,834		0.1		11,266		0.1
Consumer	64		—		71		—
Total credit-impaired acquired loans	92,435		1.2		98,900		1.3
Total loans
Single-family residential	5,436,083		67.0		5,373,950		67.3
Construction - speculative	135,868		1.7		130,778		1.6
Construction - custom	333,954		4.1		302,722		3.8
Land - acquisition & development	75,506		0.9		81,660		1.1
Land - consumer lot loans	122,467		1.5		124,984		1.5
Multi-family	846,116		10.5		835,598		10.5
Commercial real estate	622,240		7.7		625,293		7.9
Commercial & industrial	354,166		4.4		326,450		4.0



HELOC	131,949		1.6		133,631		1.6
Consumer	51,960		0.6		55,479		0.7
Total loans	8,110,309		100	%	7,990,545		100	%
Less:
Allowance for probable losses	118,158				116,741
Loans in process	273,263				275,577
Discount on acquired loans	31,485				34,143
Deferred net origination fees	35,845				36,054
	458,751				462,515
	$	7,651,558			$	7,528,030

Schedule of Changes in the Accretable Yield for Credit Impaired Acquired Loans

Changes in the carrying amount and accretable yield for acquired credit impaired and non-impaired loans for the three months ended December 31, 2013 and the fiscal year ended September 30, 2013 were as follows:



December 31, 2013	Acquired Impaired						Acquired Non-impaired
	Accretable Yield			Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans
	(In thousands)
Balance as of beginning of period	$	37,236		$	69,718		$	4,977		$	245,373
Accretion	(2,715		)	2,715			(319		)	319
Transfers to REO	—			(346		)	—			(1,124		)
Payments received, net	—			(6,495		)	—			(20,453		)
Balance as of end of period	$	34,521		$	65,592		$	4,658		$	224,115



September 30, 2013	Acquired Impaired						Acquired Non-impaired
	Accretable Yield			Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans
	(In thousands)
Balance as of beginning of period	$	16,928		$	77,613		$	—		$	—
Reclassification from nonaccretable balance, net (1)	30,026			—			—			—
Additions (2)	—			9,865			10,804			351,335
Accretion	(9,718		)	9,718			(5,827		)	5,827
Transfers to REO	—			(3,975		)	—			(7,755		)
Payments received, net	—			(23,503		)	—			(104,034		)
Balance as of end of period	$	37,236		$	69,718		$	4,977		$	245,373
(1) reclassification due to improvements in expected cash flows of the underlying loans.
(2) includes acquired loans which were acquired as part of the South Valley acquisition.

Summary of Information Regarding Non-Accrual Loans

The following table sets forth information regarding non-accrual loans held by the Company as of the dates indicated:



	December 31, 2013				September 30, 2013
	(In thousands)
Non-accrual loans:
Single-family residential	$	89,075	77.5	%	$	100,460	76.5	%
Construction - speculative	3,053		2.7		4,560		3.5
Construction - custom	—		—		—		—
Land - acquisition & development	2,813		2.5		2,903		2.2
Land - consumer lot loans	3,548		3.1		3,337		2.5
Multi-family	2,494		2.2		6,573		5.0
Commercial real estate	11,613		10.1		11,736		8.9
Commercial & industrial	655		0.6		477		0.4
HELOC	471		0.4		263		0.2
Consumer	995		0.9		990		0.8
Total non-accrual loans	$	114,717	100	%	$	131,299	100	%

Analysis of Age of Loans in Past Due Status

The following tables provide an analysis of the age of loans in past due status as of December 31, 2013 and September 30, 2013, respectively.



December 31, 2013	Amount of Loans		Days Delinquent Based on $ Amount of Loans										% based on $
Type of Loan	Net of LIP & Chg.-Offs		Current		30		60		90		Total		% based on $
	(In thousands)
Non-acquired loans
Single-Family Residential	$	5,418,864	$	5,304,409	$	33,199	$	10,318	$	70,938	$	114,455	2.11	%
Construction - Speculative	87,485		86,398		37		92		958		1,087		1.24
Construction - Custom	154,776		154,610		166		—		—		166		0.11
Land - Acquisition & Development	66,028		63,890		1		119		2,018		2,138		3.24
Land - Consumer Lot Loans	119,024		114,493		989		320		3,222		4,531		3.81
Multi-Family	812,635		810,050		1,031		—		1,554		2,585		0.32
Commercial Real Estate	426,898		422,781		951		—		3,166		4,117		0.96
Commercial & Industrial	274,424		272,589		1,835		—		—		1,835		0.67
HELOC	111,577		110,995		346		114		122		582		0.52
Consumer	44,143		42,545		901		305		392		1,598		3.62
Total non-acquired loans	7,515,854		7,382,760		39,456		11,268		82,370		133,094		1.77	%

Acquired loans
Single-Family Residential	13,856		13,813		$	—	—		43		43		0.31	%
Construction - Speculative	—		—		—		—		—		—		—
Construction - Custom	—		—		—		—		—		—		—
Land - Acquisition & Development	1,206		1,123		83		—		—		83		6.88
Land - Consumer Lot Loans	3,261		2,935		—		—		326		326		10.00



Multi-Family	3,773		3,636		137		—		—		137		3.63
Commercial Real Estate	116,810		112,685		44		—		4,081		4,125		3.53
Commercial & Industrial	72,575		71,903		364		146		162		672		0.93
HELOC	9,538		9,263		16		—		259		275		2.88
Consumer	7,754		7,076		59		16		603		678		8.74
Total acquired loans	228,773		222,434		703		162		5,474		6,339		2.77	%

Credit-impaired acquired loans
Single-Family Residential	331		331		—		—		—		—		—	%
Construction - Speculative	—		—		—		—		—		—		—
Construction - Custom	—		—		—		—		—		—		—
Land - Acquisition & Development	2,224		1,845		—		—		379		379		17.04
Land - Consumer Lot Loans	—		—		—		—		—		—		—
Multi-Family	—		—		—		—		—		—		—
Commercial Real Estate	71,826		70,490		379		64		893		1,336		1.86
Commercial & Industrial	7,140		6,647		—		—		493		493		6.90
HELOC	10,834		10,431		313		—		90		403		3.72
Consumer	64		64		—		—		—		—		—
Total credit-impaired acquired loans	92,419		89,808		692		64		1,855		2,611		2.83	%

Total loans	$	7,837,046	$	7,695,002	$	40,851	$	11,494	$	89,699	$	142,044	1.81	%



September 30, 2013	Amount of Loans		Days Delinquent Based on $ Amount of Loans										% based on $
Type of Loan	Net of LIP & Chg.-Offs		Current		30		60		90		Total		% based on $
	(In thousands)
Single-Family Residential	$	5,356,200	$	5,237,413	$	26,888	$	12,373	$	79,526	$	118,787	2.22	%
Construction - Speculative	82,422		80,047		—		—		2,375		2,375		2.88
Construction - Custom	130,095		129,678		417		—		—		417		0.32
Land - Acquisition & Development	71,567		70,106		—		—		1,461		1,461		2.04
Land - Consumer Lot Loans	121,473		117,076		806		355		3,236		4,397		3.62
Multi-Family	790,564		785,793		—		—		4,771		4,771		0.60
Commercial Real Estate	404,680		398,114		2,942		351		3,273		6,566		1.62
Commercial & Industrial	249,405		249,363		42		—		—		42		0.02
HELOC	112,186		111,407		493		213		73		779		0.69
Consumer	47,142		45,620		849		283		390		1,522		3.23
Total non-acquired loans	7,365,734		7,224,617		32,437		13,575		95,105		141,117		1.92



Acquired loans
Single-Family Residential	14,468		14,343		82		—		43		125		0.86
Construction - Speculative	—		—		—		—		—		—		NM
Construction - Custom	—		—		—		—		—		—		NM
Land - Acquisition & Development	1,489		1,241		—		—		248		248		16.66
Land - Consumer Lot Loans	3,313		2,987		125		100		101		326		9.84
Multi-Family	3,914		3,914		—		—		—		—		—
Commercial Real Estate	133,398		128,610		134		617		4,037		4,788		3.59
Commercial & Industrial	75,323		74,992		10		153		168		331		0.44
HELOC	10,179		10,063		—		16		100		116		1.14
Consumer	8,266		7,568		90		8		600		698		8.44
Total acquired loans	250,350		243,718		441		894		5,297		6,632		2.65

Credit-impaired acquired loans
Single-Family Residential	333		333		—		—		—		—		—
Construction - Speculative	—		—		—		—		—		—		NM
Construction - Custom	—		—		—		—		—		—		—
Land - Acquisition & Development	2,393		1,929		—		464		—		464		19.39
Land - Consumer Lot Loans	—		—		—		—		—		—		—
Multi-Family	—		—		—		—		—		—		—
Commercial Real Estate	83,116		80,095		2,301		—		720		3,021		3.63
Commercial & Industrial	1,705		1,396		—		—		309		309		18.12
HELOC	11,266		11,176		—		—		90		90		0.80
Consumer	71		71		—		—		—		—		—
Total credit-impaired acquired loans	98,884		95,000		2,301		464		1,119		3,884		3.93	%

Total loans	$	7,714,968	$	7,563,335	$	35,179	$	14,933	$	101,521	$	151,633	1.97	%

Schedule of Impaired Loans, Loan Commitments and Loans Serviced

The following tables provide information related to loans that were restructured during the periods indicated:



	Quarter Ended December 31,
	2013					2012
		Pre-Modification		Post-Modification			Pre-Modification		Post-Modification
		Outstanding		Outstanding			Outstanding		Outstanding
	Number of	Recorded		Recorded		Number of	Recorded		Recorded
	Contracts	Investment		Investment		Contracts	Investment		Investment
		(In thousands)					(In thousands)
Troubled Debt Restructurings:
Single-Family Residential	113	$	23,607	$	23,607	105	$	29,339	$	29,339
Construction - Speculative	—	—		—		1	2,503		2,503
Construction - Custom	—	—		—		—	—		—
Land - Acquisition & Development	—	—		—		—	—		—
Land - Consumer Lot Loans	5	1,098		1,098		11	1,836		1,836
Multi-Family	2	1,213		1,213		1	68		68
Commercial Real Estate	1	810		810		—	—		—
Commercial & Industrial	—	—		—		—	—		—
HELOC	1	261		261		—	—		—
Consumer	2	39		39		—	—		—
	124	$	27,028	$	27,028	118	$	33,746	$	33,746

Schedule of Loan Modifications

The following tables provide information on restructured loans for which a payment default occurred during the periods indicated and that had been modified as a TDR within 12 months or less of the payment default:



	Quarter Ended December 31,
	2013			2012
	Number of	Recorded		Number of	Recorded
	Contracts	Investment		Contracts	Investment
	(In thousands)			(In thousands)
Troubled Debt Restructurings That Subsequently Defaulted:
Single-Family Residential	24	$	3,624	31	$	7,498
Construction - Speculative	—	—		5	904
Construction - Custom	—	—		—	—
Land - Acquisition & Development	—	—		—	—
Land - Consumer Lot Loans	2	166		—	—
Multi-Family	—	—		—	—
Commercial Real Estate	—	—		—	—
Commercial & Industrial	—	—		—	—
HELOC	—	—		—	—
Consumer	—	—		—	—
	26	$	3,790	36	$	8,402