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Allowance for Losses on Loans (Tables)
 6 Months Ended
Mar. 31, 2016
Receivables [Abstract]  
Summary of Activity in Allowance for Loan Losses
The following tables summarize the activity in the allowance for loan losses. 
Three Months Ended March 31, 2016
Beginning
Allowance
 
Charge-offs
 
Recoveries
 
Provision &
Transfers
 
Ending
Allowance
 
(In thousands)
Single-family residential
$
47,756

 
$
(1,026
)
 
$
111

 
$
(5,013
)
 
$
41,828

Construction
7,014

 
—

 
(5
)
 
8,717

 
15,726

Construction - custom
1,062

 
—

 
—

 
(40
)
 
1,022

Land - acquisition & development
6,778

 
—

 
3,371

 
(2,897
)
 
7,252

Land - consumer lot loans
3,001

 
(268
)
 
—

 
(267
)
 
2,466

Multi-family
5,047

 
—

 
—

 
1,737

 
6,784

Commercial real estate
10,344

 
(9
)
 
992

 
(3,544
)
 
7,783

Commercial & industrial
24,096

 
(331
)
 
590

 
(531
)
 
23,824

HELOC
820

 
(26
)
 
—

 
34

 
828

Consumer
1,983

 
(278
)
 
397

 
304

 
2,406

 
$
107,901

 
$
(1,938
)
 
$
5,456

 
$
(1,500
)
 
$
109,919


Three Months Ended March 31, 2015
Beginning
Allowance
 
Charge-offs
 
Recoveries
 
Provision &
Transfers
 
Ending
Allowance
 
(In thousands)
Single-family residential
$
55,495

 
$
(1,409
)
 
$
4,122

 
$
(3,446
)
 
$
54,762

Construction
5,451

 
—

 
75

 
(81
)
 
5,445

Construction - custom
965

 
—

 
—

 
3

 
968

Land - acquisition & development
6,671

 
—

 
204

 
530

 
7,405

Land - consumer lot loans
3,113

 
(52
)
 
34

 
(60
)
 
3,035

Multi-family
4,500

 
—

 
—

 
173

 
4,673

Commercial real estate
5,872

 
—

 
453

 
409

 
6,734

Commercial & industrial
23,328

 
(355
)
 
18

 
(1,845
)
 
21,146

HELOC
892

 
—

 
—

 
(42
)
 
850

Consumer
2,413

 
(701
)
 
734

 
859

 
3,305

 
$
108,700

 
$
(2,517
)
 
$
5,640

 
$
(3,500
)
 
$
108,323

Six Months Ended March 31, 2016
Beginning
Allowance
 
Charge-offs
 
Recoveries
 
Provision &
Transfers
 
Ending
Allowance
 
(In thousands)
Single-family residential
$
47,347

 
$
(2,165
)
 
$
2,577

 
$
(5,931
)
 
$
41,828

Construction
6,680

 
—

 
150

 
8,896

 
15,726

Construction - custom
990

 
(60
)
 
—

 
92

 
1,022

Land - acquisition & development
5,781

 
—

 
3,406

 
(1,935
)
 
7,252

Land - consumer lot loans
2,946

 
(676
)
 
—

 
196

 
2,466

Multi-family
5,304

 
—

 
—

 
1,480

 
6,784

Commercial real estate
8,960

 
(32
)
 
1,115

 
(2,260
)
 
7,783

Commercial & industrial
24,980

 
(579
)
 
591

 
(1,168
)
 
23,824

HELOC
902

 
(27
)
 
21

 
(68
)
 
828

Consumer
2,939

 
(520
)
 
789

 
(802
)
 
2,406

 
$
106,829

 
$
(4,059
)
 
$
8,649

 
$
(1,500
)
 
$
109,919

Six Months Ended March 31, 2015
Beginning
Allowance
 
Charge-offs
 
Recoveries
 
Provision &
Transfers
 
Ending
Allowance
 
(In thousands)
Single-family residential
$
62,763

 
$
(3,103
)
 
$
6,675

 
$
(11,573
)
 
$
54,762

Construction
6,742

 
(388
)
 
75

 
(984
)
 
5,445

Construction - custom
1,695

 
—

 
—

 
(727
)
 
968

Land - acquisition & development
5,592

 
(38
)
 
205

 
1,646

 
7,405

Land - consumer lot loans
3,077

 
(87
)
 
34

 
11

 
3,035

Multi-family
4,248

 
—

 
220

 
205

 
4,673

Commercial real estate
7,548

 
(27
)
 
481

 
(1,268
)
 
6,734

Commercial & industrial
16,527

 
(355
)
 
52

 
4,922

 
21,146

HELOC
928

 
—

 
—

 
(78
)
 
850

Consumer
3,227

 
(1,128
)
 
1,349

 
(143
)
 
3,305

Covered loans
2,244

 
 
 
 
 
(2,244
)
 
—

 
$
114,591

 
$
(5,126
)
 
$
9,091

 
$
(10,233
)
 
$
108,323
Summary of Loans Collectively and Individually Evaluated for Impairment and Related Allocation of Reserves
The following tables show loans collectively and individually evaluated for impairment and the related allocation of general and specific reserves.
 
March 31, 2016
Loans Collectively Evaluated for Impairment
 
Loans Individually Evaluated for Impairment
 
Allowance Allocation
 
Recorded Investment of Loans (1)
 
Ratio
 
Allowance Allocation
 
Recorded Investment of Loans (1)
 
Ratio
 
(In thousands)
 
 
 
(In thousands)
Single-family residential
$
40,974

 
$
5,557,463

 
0.7
%
 
$
854

 
$
28,462

 
3.0
%
Construction
15,726

 
391,616

 
4.0

 
—

 
—

 
—

Construction - custom
1,021

 
210,809

 
0.5

 
—

 
171

 
—

Land - acquisition & development
7,221

 
88,064

 
8.2

 
31

 
1,280

 
2.4

Land - consumer lot loans
2,466

 
89,741

 
2.8

 
—

 
1,114

 
—

Multi-family
6,774

 
1,070,178

 
0.6

 
11

 
1,522

 
0.7

Commercial real estate
7,643

 
810,343

 
0.9

 
140

 
12,602

 
1.1

Commercial & industrial
23,824

 
829,394

 
2.9

 
—

 
—

 
—

HELOC
828

 
128,295

 
0.7

 
—

 
566

 
—

Consumer
2,406

 
164,612

 
1.5

 
—

 
—

 
—

 
$
108,883

 
$
9,340,515

 
1.2
%
 
$
1,036

 
$
45,717

 
2.3
%
(1)
Excludes acquired loans with discounts sufficient to absorb potential losses and covered loans
September 30, 2015
Loans Collectively Evaluated for Impairment
 
Loans Individually Evaluated for Impairment
 
Allowance Allocation
 
Recorded Investment of Loans (1)
 
Ratio
 
Allowance Allocation
 
Recorded Investment of Loans (1)
 
Ratio
 
(In thousands)
 
 
 
(In thousands)
Single-family residential
$
47,073

 
$
5,595,752

 
0.8
%
 
$
275

 
$
51,718

 
0.5
%
Construction
6,680

 
124,679

 
5.4

 
—

 
5,441

 
—

Construction - custom
990

 
205,692

 
0.5

 
—

 
—

 
—

Land - acquisition & development
5,781

 
72,602

 
8.0

 
—

 
2,198

 
—

Land - consumer lot loans
2,946

 
93,103

 
3.2

 
—

 
10,824

 
—

Multi-family
5,304

 
1,062,194

 
0.5

 
—

 
5,348

 
—

Commercial real estate
8,960

 
844,691

 
1.1

 
—

 
8,826

 
—

Commercial & industrial
24,980

 
643,577

 
3.9

 
—

 
—

 
—

HELOC
902

 
126,594

 
0.7

 
—

 
1,072

 
—

Consumer
2,938

 
194,569

 
1.5

 
—

 
86

 
—

 
$
106,554

 
$
8,963,453

 
1.2
%
 
$
275

 
$
85,513

 
0.3
%

(1) Excludes acquired loans with discounts sufficient to absorb potential losses and covered loans
Summary of Loans Based on Credit Quality Indicators
The following tables provide information on loans based on risk rating categories as defined above.
March 31, 2016
Internally Assigned Grade
 
 
 
Pass
 
Special mention
 
Substandard
 
Doubtful
 
Loss
 
Total Gross Loans
 
(In thousands)
Non-acquired loans
 
 
 
 
 
 
 
 
 
 
 
  Single-family residential
$
5,547,231

 
$
—

 
$
71,723

 
$
—

 
$
—

 
$
5,618,954

  Construction
774,540

 
7,500

 
3,806

 
—

 
—

 
785,846

  Construction - custom
395,010

 
—

 
3,787

 
—

 
—

 
398,797

  Land - acquisition & development
93,668

 
—

 
7,937

 
—

 
—

 
101,605

  Land - consumer lot loans
99,081

 
—

 
1,775

 
—

 
—

 
100,856

  Multi-family
1,065,161

 
3,613

 
4,448

 
—

 
—

 
1,073,222

  Commercial real estate
813,405

 
8,281

 
11,884

 
—

 
—

 
833,570

  Commercial & industrial
747,693

 
3,975

 
53,604

 
—

 
—

 
805,272

  HELOC
129,656

 
—

 
803

 
—

 
—

 
130,459

  Consumer
164,292

 
—

 
380

 
—

 
—

 
164,672

 
9,829,737

 
23,369

 
160,147

 
—

 
—

 
10,013,253

 
 
 
 
 
 
 
 
 
 
 
 
Non-impaired acquired loans
143,164

 
—

 
9,408

 
—

 
—

 
152,572

Credit-impaired acquired loans
73,699

 
—

 
32,938

 
—

 
—

 
106,637

Covered loans
33,649

 
—

 
562

 
—

 
—

 
34,211

Total gross loans
$
10,080,249

 
$
23,369

 
$
203,055

 
$
—

 
$
—

 
$
10,306,673

 
 
 
 
 
 
 
 
 
 
 
 
Total grade as a % of total gross loans
97.8
%
 
0.2
%
 
2.0
%
 
—
%
 
—
%
 
 

September 30, 2015
Internally Assigned Grade
 
 
 
Pass
 
Special mention
 
Substandard
 
Doubtful
 
Loss
 
Total Gross Loans
 
(In thousands)
Non-acquired loans
 
 
 
 
 
 
 
 
 
 
 
 Single-family residential
$
5,558,700

 
$
—

 
$
93,145

 
$
—

 
$
—

 
$
5,651,845

 Construction
197,935

 
—

 
2,574

 
—

 
—

 
200,509

 Construction - custom
396,307

 
—

 
—

 
—

 
—

 
396,307

 Land - acquisition & development
89,656

 
—

 
4,552

 
—

 
—

 
94,208

 Land - consumer lot loans
103,569

 
—

 
420

 
—

 
—

 
103,989

 Multi-family
1,118,673

 
865

 
6,184

 
—

 
—

 
1,125,722

 Commercial real estate
971,510

 
4,360

 
10,400

 
—

 
—

 
986,270

 Commercial & industrial
575,034

 
1,496

 
36,306

 
—

 
—

 
612,836

 HELOC
127,398

 
—

 
248

 
—

 
—

 
127,646

 Consumer
194,451

 
—

 
204

 
—

 
—

 
194,655

 
9,333,233

 
6,721

 
154,033

 
—

 
—

 
9,493,987

 
 
 
 
 
 
 
 
 
 
 
 
Non-impaired acquired loans
149,891

 
—

 
16,402

 
—

 
—

 
166,293

Credit-impaired acquired loans
61,019

 
—

 
26,062

 
—

 
—

 
87,081

Covered loans
61,776

 
—

 
14,133

 
—

 
—

 
75,909

Total gross loans
$
9,605,919

 
$
6,721

 
$
210,630

 
$
—

 
$
—

 
$
9,823,270

 
 
 
 
 
 
 
 
 
 
 
 
Total grade as a % of total gross loans
97.8
%
 
0.1
%
 
2.1
%
 
—
%
 
—
%
 
 

The following tables provide information on loans (excluding acquired and covered loans) based on borrower payment activity.
March 31, 2016
Performing Loans
 
Non-Performing Loans
 
Amount
 
% of Total
Gross  Loans
 
Amount
 
% of Total
Gross  Loans
 
(In thousands)
Single-family residential
$
5,576,559

 
99.2
%
 
$
42,395

 
0.8
%
Construction
785,846

 
100.0

 
—

 
—

Construction - custom
398,730

 
100.0

 
67

 
—

Land - acquisition & development
101,128

 
99.5

 
477

 
0.5

Land - consumer lot loans
99,916

 
99.1

 
940

 
0.9

Multi-family
1,071,702

 
99.9

 
1,520

 
0.1

Commercial real estate
825,869

 
99.1

 
7,701

 
0.9

Commercial & industrial
804,676

 
99.9

 
596

 
0.1

HELOC
129,905

 
99.6

 
554

 
0.4

Consumer
164,363

 
99.8

 
309

 
0.2

 
$
9,958,694

 
99.5
%
 
$
54,559

 
0.5
%

September 30, 2015
Performing Loans
 
Non-Performing Loans
 
Amount
 
% of Total
Gross  Loans
 
Amount
 
% of Total
Gross  Loans
 
(In thousands)
Single-family residential
$
5,592,771

 
99.0
%
 
$
59,074

 
1.0
%
Construction
199,755

 
99.6

 
754

 
0.4

Construction - custom
395,575

 
99.8

 
732

 
0.2

Land - acquisition & development
94,208

 
100.0

 
—

 
—

Land - consumer lot loans
102,716

 
98.8

 
1,273

 
1.2

Multi-family
1,123,165

 
99.8

 
2,558

 
0.2

Commercial real estate
984,093

 
99.8

 
2,176

 
0.2

Commercial & industrial
612,836

 
100.0

 
—

 
—

HELOC
127,083

 
99.6

 
563

 
0.4

Consumer
193,975

 
99.7

 
680

 
0.3

 
$
9,426,177

 
99.3
%
 
$
67,810

 
0.7
%
Summary of Impaired Loans Based on Type
The following tables provide information on impaired loan balances and the related allowances by loan types. 
 
 
 
 
 
 
 
 
March 31, 2016
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average Recorded Investment
 
(In thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
Single-family residential
$
11,818

 
$
13,412

 
$
—

 
$
10,345

Construction - custom
699

 
759

 
—

 
449

Land - acquisition & development
188

 
9,086

 
—

 
365

Land - consumer lot loans
548

 
634

 
—

 
418

Multi-family
1,044

 
4,793

 
—

 
675

Commercial real estate
5,797

 
6,428

 
—

 
4,891

Commercial & industrial
182

 
6,611

 
—

 
567

HELOC
439

 
830

 
—

 
330

Consumer
116

 
501

 
—

 
218

 
20,831

 
43,054

 
—

 
18,258

With an allowance recorded:
 
 
 
 
 
 
 
Single-family residential
233,544

 
237,663

 
4,277

 
234,260

Land - acquisition & development
1,632

 
2,834

 
24

 
1,867

Land - consumer lot loans
9,981

 
11,037

 
7

 
10,496

Multi-family
1,522

 
1,522

 
11

 
1,527

Commercial real estate
22,139

 
24,586

 
140

 
22,876

HELOC
1,396

 
1,398

 
—

 
1,394

Consumer
94

 
284

 
—

 
96

 
270,308

 
279,324

 
4,459

(1)
272,516

Total:
 
 
 
 
 
 
 
Single-family residential
245,362

 
251,075

 
4,277

 
244,605

Construction - custom
699

 
759

 
—

 
449

Land - acquisition & development
1,820

 
11,920

 
24

 
2,232

Land - consumer lot loans
10,529

 
11,671

 
7

 
10,914

Multi-family
2,566

 
6,315

 
11

 
2,202

Commercial real estate
27,936

 
31,014

 
140

 
27,767

Commercial & industrial
182

 
6,611

 
—

 
567

HELOC
1,835

 
2,228

 
—

 
1,724

Consumer
210

 
785

 
—

 
314

 
$
291,139

 
$
322,378

 
$
4,459

(1)
$
290,774



(1)
Includes $1,036,000 of specific reserves and $3,423,000 included in the general reserves.


September 30, 2015
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
(In thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
Single-family residential
$
17,250

 
$
19,644

 
$
—

 
$
14,069

Construction
453

 
2,151

 
—

 
471

Construction - custom
554

 
554

 
—

 
182

Land - acquisition & development
2,570

 
9,426

 
—

 
926

Land - consumer lot loans
727

 
814

 
—

 
544

Multi-family
3,770

 
7,054

 
—

 
1,545

Commercial real estate
9,427

 
15,620

 
—

 
8,130

Commercial & industrial
2,955

 
13,066

 
—

 
2,681

HELOC
683

 
1,532

 
—

 
536

Consumer
477

 
703

 
—

 
390

 
38,866

 
70,564

 
—

 
29,474

With an allowance recorded:
 
 
 
 
 
 
 
Single-family residential
259,461

 
263,268

 
6,678

 
260,028

Construction
4,988

 
5,778

 
—

 
5,432

Land - acquisition & development
2,486

 
3,426

 
—

 
3,478

Land - consumer lot loans
11,289

 
11,554

 
—

 
11,324

Multi-family
3,823

 
3,823

 
—

 
3,732

Commercial real estate
19,124

 
21,078

 
—

 
18,886

HELOC
1,443

 
1,443

 
—

 
1,359

Consumer
99

 
289

 
—

 
102

 
302,713

 
310,659

 
6,678

(1)
304,341

Total:
 
 
 
 
 
 
 
Single-family residential
276,711

 
282,912

 
6,678

 
274,097

Construction
5,441

 
7,929

 
—

 
5,903

Construction - custom
554

 
554

 
—

 
182

Land - acquisition & development
5,056

 
12,852

 
—

 
4,404

Land - consumer lot loans
12,016

 
12,368

 
—

 
11,868

Multi-family
7,593

 
10,877

 
—

 
5,277

Commercial real estate
28,551

 
36,698

 
—

 
27,016

Commercial & industrial
2,955

 
13,066

 
—

 
2,681

HELOC
2,126

 
2,975

 
—

 
1,895

Consumer
576

 
992

 
—

 
492

 
$
341,579

 
$
381,223

 
$
6,678

(1)
$
333,815


(1)
Includes $275,000 of specific reserves and $6,403,000 included in the general reser