Loans Receivable (Tables)

6 Months Ended

Mar. 31, 2016

The following table is a summary of loans receivable (including loans in process, net of charge offs.)



	March 31, 2016				September 30, 2015
	(In thousands)				(In thousands)
Non-Acquired loans
Single-family residential	$	5,618,954	54.5	%	$	5,651,845	57.6	%
Construction	785,846		7.6		200,509		2.0
Construction - custom	398,797		3.9		396,307		4.0
Land - acquisition & development	101,605		1.0		94,208		1.0
Land - consumer lot loans	100,856		1.0		103,989		1.1
Multi-family	1,073,222		10.4		1,125,722		11.6
Commercial real estate	833,570		8.1		986,270		10.0
Commercial & industrial	805,272		7.8		612,836		6.2
HELOC	130,459		1.3		127,646		1.3
Consumer	164,672		1.6		194,655		2.0
Total non-acquired loans	10,013,253		97.2	%	9,493,987		96.8	%
Acquired loans	152,572		1.5		166,293		1.6
Credit impaired acquired loans	106,637		1.0		87,081		0.9
Covered loans	34,211		0.3		75,909		0.7
Total gross loans	10,306,673		100.0	%	9,823,270		100.0	%
Less:
Allowance for loan losses	109,919				106,829
Loans in process	591,667				476,796
Discount on acquired loans	21,120				30,095
Deferred net origination fees	38,645				38,916
Total loan contra accounts	761,351				652,636
Net Loans	$	9,545,322			$	9,170,634

Summary of Information Regarding Non-Accrual Loans

The following table sets forth information regarding non-accrual loans.



	March 31, 2016				September 30, 2015
	(In thousands)
Non-accrual loans:
Single-family residential	$	42,395	77.7	%	$	59,074	87.1	%
Construction	—		—		754		1.1
Construction - custom	67		0.1		732		1.1
Land - acquisition & development	477		0.9		—		—
Land - consumer lot loans	940		1.7		1,273		1.9
Multi-family	1,520		2.8		2,558		3.8
Commercial real estate	7,701		14.1		2,176		3.2
Commercial & industrial	596		1.1		—		—
HELOC	554		1.0		563		0.8
Consumer	309		0.6		680		1.0
Total non-accrual loans	$	54,559	100	%	$	67,810	100	%

Analysis of Age of Loans in Past Due Status

The following tables provide details regarding delinquent loans.



March 31, 2016	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	$	5,624,134	$	5,558,731	$	18,000	$	7,785	$	39,618	$	65,403	1.16	%
Construction	396,322		396,181		—		—		141		141		0.04
Construction - Custom	212,067		209,153		1,047		1,800		67		2,914		1.37
Land - Acquisition & Development	92,467		90,541		1,445		—		481		1,926		2.08
Land - Consumer Lot Loans	101,372		99,379		563		490		940		1,993		1.97
Multi-Family	1,077,248		1,075,662		970		—		616		1,586		0.15
Commercial Real Estate	889,342		881,896		1,766		53		5,627		7,446		0.84
Commercial & Industrial	810,452		808,825		862		—		765		1,627		0.20
HELOC	130,446		129,456		378		63		549		990		0.76
Consumer	164,942		163,620		757		207		358		1,322		0.80
	9,498,792		9,413,444		25,788		10,398		49,162		85,348		0.90
Acquired loans	131,079		130,030		376		2		671		1,049		0.80
Credit impaired acquired loans	50,924		50,604		—		44		276		320		0.63
Covered loans	34,211		33,575		38		2		596		636		1.86
Total Loans	$	9,715,006	$	9,627,653	$	26,202	$	10,446	$	50,705	$	87,353	0.90	%
Delinquency %			99.10%		0.27%		0.11%		0.52%		0.90%



September 30, 2015	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	$	5,655,928	$	5,590,673	$	17,305	$	7,757	$	40,193	$	65,255	1.15	%
Construction	130,121		130,121		—		—		—		—		—
Construction - Custom	205,692		204,168		791		270		463		1,524		0.74
Land - Acquisition & Development	75,661		74,737		406		—		518		924		1.22
Land - Consumer Lot Loans	104,494		102,045		689		399		1,361		2,449		2.34
Multi-Family	1,068,038		1,065,667		259		454		1,658		2,371		0.22
Commercial Real Estate	893,072		892,180		131		—		761		892		0.10
Commercial & Industrial	617,545		616,602		93		27		823		943		0.15
HELOC	127,648		127,196		174		27		251		452		0.35
Consumer	194,977		194,259		493		170		55		718		0.37
	9,073,176		8,997,648		20,341		9,104		46,083		75,528		0.83
Acquired loans	57,682		56,559		356		—		767		1,123		1.95
Credit impaired acquired loans	139,726		138,940		243		4		539		786		0.56
Covered loans	75,890		70,729		272		90		4,799		5,161		6.80
Total Loans	$	9,346,474	$	9,263,876	$	21,212	$	9,198	$	52,188	$	82,598	0.88	%
Delinquency %			99.12%		0.23%		0.10%		0.56%		0.88%

Schedule of Impaired Loans, Loan Commitments and Loans Serviced

The following tables provide information related to loans that were restructured in a troubled debt restructuring ("TDR") during the periods presented:



	Three Months Ended March 31,
	2016					2015
		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	7	$	1,101	$	1,101	14	$	2,664	$	2,664
Land - consumer lot loans	—	—		—		4	720		720
Commercial real estate						3	3,175		3,175
	7	$	1,101	$	1,101	21	$	6,559	$	6,559

	Six Months Ended March 31,
	2016					2015
		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	10	$	1,830	$	1,830	49	$	12,264	$	12,264
Construction	—	—		—		2	718		718
Land - consumer lot loans	—	—		—		6	1,252		1,252
Commercial real estate	5	965		965		3	3,175		3,175
Consumer	—	—		—		1	85		85
	15	$	2,795	$	2,795	61	$	17,494	$	17,494

Schedule of Loan Modifications

The following tables provide information on payment defaults occurring during the periods presented where the loan had been modified in a TDR within 12 months of the payment default.



	Three Months Ended March 31,
	2016			2015
	Number of	Recorded		Number of	Recorded
	Contracts	Investment		Contracts	Investment
	(In thousands)			(In thousands)
TDRs That Subsequently Defaulted:
Single-family residential	6	$	871	2	$	304
Land - consumer lot loans	1	146		2	301
Commercial real estate	1	152		—	—
	8	$	1,169	4	$	605

	Six Months Ended March 31,
	2016			2015
	Number of	Recorded		Number of	Recorded
	Contracts	Investment		Contracts	Investment
	(In thousands)			(In thousands)
TDRs That Subsequently Defaulted:
Single-family residential	8	$	1,095	7	$	1,237
Land - consumer lot loans	1	146		3	389
Commercial real estate	1	152		—	—
	10	$	1,393	10	$	1,626

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

The following table shows the changes in accretable yield for acquired impaired loans and acquired non-impaired loans (including covered loans).



	Six Months Ended March 31, 2016												Year Ended September 30, 2015
	Acquired Impaired						Acquired Non-impaired						Acquired Impaired						Acquired Non-impaired
	Accretable Yield			Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans
	(In thousands)												(In thousands)
Beginning balance	$	72,705		$	111,300		$	7,204		$	187,080		$	97,125		$	135,826		$	14,513		$	275,862
Additions	—			—			—			—			—			—			—			—
Net reclassification from nonaccretable	—			—			—			—			6,307			—			346			—
Accretion	(11,010		)	11,010			(1,485		)	1,485			(30,727		)	30,727			(7,655		)	7,655
Transfers to REO	—			(123		)	—			—			—			(2,975		)	—			(150		)
Payments received, net	—			(21,039		)	—			(17,419		)	—			(52,278		)	—			(96,287		)
Ending Balance	$	61,695		$	101,148		$	5,719		$	171,146		$	72,705		$	111,300		$	7,204		$	187,080

Schedule of Activity for FDIC Indemnification Asset

The following table shows activity for the FDIC indemnification asset:



	Six Months Ended March 31, 2016			Year Ended September 30, 2015
	(In thousands)
Balance at beginning of period	$	16,275		$	36,860
Additions/Adjustments	—			(1,795		)
Payments received	(2,153		)	(720		)
Amortization	(773		)	(18,588		)
Accretion	131			518
Balance at end of period	$	13,480		$	16,275