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Allowance for Losses on Loans (Tables)
 3 Months Ended
Dec. 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 December 31, 2016
Beginning
Allowance
 
Charge-offs
 
Recoveries
 
Provision &
Transfers
 
Ending
Allowance
 
(In thousands)
Single-family residential
$
37,796

 
$
(115
)
 
$
151

 
$
374

 
$
38,206

Construction
19,838

 
—

 
—

 
2,096

 
21,934

Construction - custom
1,080

 
—

 
—

 
30

 
1,110

Land - acquisition & development
6,023

 
(20
)
 
4,018

 
(3,356
)
 
6,665

Land - consumer lot loans
2,535

 
(17
)
 
70

 
(87
)
 
2,501

Multi-family
6,925

 
—

 
—

 
704

 
7,629

Commercial real estate
8,588

 
(11
)
 
356

 
1,235

 
10,168

Commercial & industrial
28,008

 
(58
)
 
725

 
(939
)
 
27,736

HELOC
813

 
(37
)
 
1

 
55

 
832

Consumer
1,888

 
(146
)
 
379

 
(446
)
 
1,675

 
$
113,494

 
$
(404
)
 
$
5,700

 
$
(334
)
 
$
118,456


Three Months Ended December 31, 2015
Beginning
Allowance
 
Charge-offs
 
Recoveries
 
Provision &
Transfers
 
Ending
Allowance
 
(In thousands)
Single-family residential
$
47,347

 
$
(1,139
)
 
$
2,466

 
$
(918
)
 
$
47,756

Construction
6,680

 
—

 
155

 
179

 
7,014

Construction - custom
990

 
(60
)
 
—

 
132

 
1,062

Land - acquisition & development
5,781

 
—

 
35

 
962

 
6,778

Land - consumer lot loans
2,946

 
(408
)
 
—

 
463

 
3,001

Multi-family
5,304

 
—

 
—

 
(257
)
 
5,047

Commercial real estate
8,960

 
(23
)
 
123

 
1,284

 
10,344

Commercial & industrial
24,980

 
(248
)
 
1

 
(637
)
 
24,096

HELOC
902

 
(1
)
 
21

 
(102
)
 
820

Consumer
2,939

 
(242
)
 
392

 
(1,106
)
 
1,983

 
$
106,829

 
$
(2,121
)
 
$
3,193

 
$
—

 
$
107,901
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.
 
December 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
$
38,092

 
$
5,585,461

 
0.7
%
 
$
114

 
$
30,165

 
0.4
%
Construction
21,934

 
513,046

 
4.3

 
—

 
—

 
—

Construction - custom
1,110

 
236,668

 
0.5

 
—

 
—

 
—

Land - acquisition & development
6,621

 
101,598

 
6.5

 
44

 
886

 
5.0

Land - consumer lot loans
2,501

 
90,947

 
2.7

 
—

 
1,384

 
—

Multi-family
7,617

 
1,215,870

 
0.6

 
12

 
1,496

 
0.8

Commercial real estate
9,971

 
1,144,389

 
0.9

 
197

 
15,473

 
1.3

Commercial & industrial
27,736

 
1,021,372

 
2.7

 
—

 
1,517

 
—

HELOC
832

 
138,094

 
0.6

 
—

 
805

 
—

Consumer
1,675

 
124,255

 
1.3

 
—

 
—

 
—

 
$
118,089

 
$
10,171,700

 
1.2
%
 
$
367

 
$
51,726

 
0.7
%
(1)
Excludes acquired impaired loans and covered loans.
September 30, 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
$
37,536

 
$
5,585,912

 
0.7
%
 
$
260

 
$
19,629

 
1.3
%
Construction
19,838

 
498,450

 
4.0

 
—

 
—

 
—

Construction - custom
1,080

 
229,298

 
0.5

 
—

 
330

 
—

Land - acquisition & development
6,022

 
90,850

 
6.6

 
2

 
850

 
0.2

Land - consumer lot loans
2,535

 
92,828

 
2.7

 
—

 
558

 
—

Multi-family
6,911

 
1,091,974

 
0.6

 
13

 
1,505

 
0.9

Commercial real estate
8,497

 
957,380

 
0.9

 
91

 
11,157

 
0.8

Commercial & industrial
28,008

 
966,930

 
2.9

 
—

 
—

 
—

HELOC
813

 
133,203

 
0.6

 
—

 
239

 
—

Consumer
1,888

 
137,315

 
1.4

 
—

 
3

 
—

 
$
113,128

 
$
9,784,140

 
1.2
%
 
$
366

 
$
34,271

 
1.1
%

(1) Excludes acquired impaired loans 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.
December 31, 2016
Internally Assigned Grade
 
 
 
Pass
 
Special mention
 
Substandard
 
Doubtful
 
Loss
 
Total Gross Loans
 
(In thousands)
Loan type
 
 
 
 
 
 
 
 
 
 
 
  Single-family residential
$
5,568,663

 
$
—

 
$
55,600

 
$
—

 
$
—

 
$
5,624,263

  Construction
1,256,396

 
5,876

 
3,475

 
—

 
—

 
1,265,747

  Construction - custom
494,447

 
—

 
—

 
—

 
—

 
494,447

  Land - acquisition & development
113,569

 
—

 
5,516

 
—

 
—

 
119,085

  Land - consumer lot loans
99,703

 
—

 
1,401

 
—

 
—

 
101,104

  Multi-family
1,211,055

 
3,658

 
2,881

 
—

 
—

 
1,217,594

  Commercial real estate
1,163,517

 
6,660

 
37,396

 
—

 
—

 
1,207,573

  Commercial & industrial
969,186

 
10,813

 
45,822

 
—

 
—

 
1,025,821

  HELOC
147,495

 
—

 
957

 
—

 
—

 
148,452

  Consumer
124,499

 
—

 
48

 
—

 
—

 
124,547

Total gross loans
$
11,148,530

 
$
27,007

 
$
153,096

 
$
—

 
$
—

 
$
11,328,633

 
 
 
 
 
 
 
 
 
 
 
 
Total grade as a % of total gross loans
98.4
%
 
0.2
%
 
1.4
%
 
—
%
 
—
%
 
 

September 30, 2016
Internally Assigned Grade
 
 
 
Pass
 
Special mention
 
Substandard
 
Doubtful
 
Loss
 
Total Gross Loans
 
(In thousands)
Loan type
 
 
 
 
 
 
 
 
 
 
 
 Single-family residential
$
5,607,521

 
$
—

 
$
51,309

 
$
—

 
$
—

 
$
5,658,830

 Construction
1,098,549

 
8,595

 
3,267

 
—

 
—

 
1,110,411

 Construction - custom
473,069

 
—

 
—

 
—

 
—

 
473,069

 Land - acquisition & development
111,225

 
—

 
7,272

 
—

 
—

 
118,497

 Land - consumer lot loans
103,528

 
—

 
1,039

 
—

 
—

 
104,567

 Multi-family
1,117,437

 
3,237

 
3,616

 
—

 
—

 
1,124,290

 Commercial real estate
1,033,880

 
13,446

 
46,313

 
—

 
—

 
1,093,639

 Commercial & industrial
930,776

 
7,207

 
40,606

 
—

 
—

 
978,589

 HELOC
149,195

 
—

 
521

 
—

 
—

 
149,716

 Consumer
138,917

 
—

 
83

 
—

 
—

 
139,000

Total gross loans
$
10,764,097

 
$
32,485

 
$
154,026

 
$
—

 
$
—

 
$
10,950,608

 
 
 
 
 
 
 
 
 
 
 
 
Total grade as a % of total gross loans
98.3
%
 
0.3
%
 
1.4
%
 
—
%
 
—
%
 
 

The balance of loans internally graded as 'substandard' above includes $27,835,000 as of December 31, 2016 and $35,910,000 as of September 30, 2016 of acquired loans and covered loans.

The following tables provide information on loans (excluding acquired and covered loans) based on borrower payment activity.
December 31, 2016
Performing Loans
 
Non-Performing Loans
 
Amount
 
% of Total
Gross  Loans
 
Amount
 
% of Total
Gross  Loans
 
(In thousands)
Single-family residential
$
5,549,864

 
99.3
%
 
$
38,568

 
0.7
%
Construction
1,265,747

 
100.0

 
—

 
—

Construction - custom
494,447

 
100.0

 
—

 
—

Land - acquisition & development
116,567

 
99.5

 
603

 
0.5

Land - consumer lot loans
97,556

 
99.0

 
969

 
1.0

Multi-family
1,211,411

 
99.9

 
1,160

 
0.1

Commercial real estate
1,079,298

 
99.1

 
9,660

 
0.9

Commercial & industrial
971,931

 
99.1

 
9,230

 
0.9

HELOC
135,306

 
99.6

 
480

 
0.4

Consumer
123,140

 
100.0

 
45

 
—

 
$
11,045,267

 
99.5
%
 
$
60,715

 
0.5
%

September 30, 2016
Performing Loans
 
Non-Performing Loans
 
Amount
 
% of Total
Gross  Loans
 
Amount
 
% of Total
Gross  Loans
 
(In thousands)
Single-family residential
$
5,587,919

 
99.4
%
 
$
33,148

 
0.6
%
Construction
1,110,411

 
100.0

 
—

 
—

Construction - custom
473,069

 
100.0

 
—

 
—

Land - acquisition & development
116,097

 
99.9

 
58

 
0.1

Land - consumer lot loans
101,343

 
99.5

 
510

 
0.5

Multi-family
1,118,025

 
99.9

 
776

 
0.1

Commercial real estate
949,064

 
99.3

 
7,100

 
0.7

Commercial & industrial
946,065

 
99.9

 
583

 
0.1

HELOC
134,546

 
99.8

 
239

 
0.2

Consumer
137,450

 
100.0

 
—

 
—

 
$
10,673,989

 
99.6
%
 
$
42,414

 
0.4
%
Summary of Impaired Loans Based on Type
The following tables provide information on impaired loan balances and the related allowances by loan types. 
 
 
 
 
 
 
 
 
December 31, 2016
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average Recorded Investment
 
(In thousands)
Impaired loans with no related allowance recorded:
 
 
 
 
 
 
 
Single-family residential
$
15,488

 
$
17,258

 
$
—

 
$
11,050

Land - acquisition & development
165

 
8,396

 
—

 
152

Land - consumer lot loans
713

 
765

 
—

 
525

Multi-family
1,160

 
5,096

 
—

 
968

Commercial real estate
11,407

 
19,829

 
—

 
11,180

Commercial & industrial
9,680

 
15,065

 
—

 
5,355

HELOC
767

 
1,028

 
—

 
471

Consumer
44

 
592

 
—

 
51

 
39,424

 
68,029

 
—

 
29,752

Impaired loans with an allowance recorded:
 
 
 
 
 
 
 
Single-family residential
212,046

 
216,469

 
4,502

 
210,497

Land - acquisition & development
851

 
1,791

 
2

 
851

Land - consumer lot loans
9,056

 
10,114

 
41

 
9,002

Multi-family
1,496

 
1,496

 
12

 
1,501

Commercial real estate
18,246

 
21,497

 
197

 
17,751

Commercial & industrial
1,356

 
2,414

 
—

 
678

HELOC
1,200

 
1,218

 
—

 
1,088

Consumer
77

 
271

 
—

 
78

 
244,328

 
255,270

 
4,754

(1)
241,446

Total impaired loans:
 
 
 
 
 
 
 
Single-family residential
227,534

 
233,727

 
4,502

 
221,547

Land - acquisition & development
1,016

 
10,187

 
2

 
1,003

Land - consumer lot loans
9,769

 
10,879

 
41

 
9,527

Multi-family
2,656

 
6,592

 
12

 
2,469

Commercial real estate
29,653

 
41,326

 
197

 
28,931

Commercial & industrial
11,036

 
17,479

 
—

 
6,033

HELOC
1,967

 
2,246

 
—

 
1,559

Consumer
121

 
863

 
—

 
129

 
$
283,752

 
$
323,299

 
$
4,754

(1)
$
271,198



(1)
Includes $367,000 of specific reserves and $4,387,000 included in the general reserves.


September 30, 2016
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
(In thousands)
Impaired loans with no related allowance recorded:
 
 
 
 
 
 
 
Single-family residential
$
9,627

 
$
11,366

 
$
—

 
$
6,511

Land - acquisition & development
138

 
9,001

 
—

 
614

Land - consumer lot loans
499

 
609

 
—

 
317

Multi-family
394

 
3,972

 
—

 
638

Commercial real estate
11,741

 
21,301

 
—

 
6,260

Commercial & industrial
1,030

 
3,082

 
—

 
863

HELOC
209

 
315

 
—

 
165

Consumer
74

 
550

 
—

 
111

 
23,712

 
50,196

 
—

 
15,479

Impaired loans with an allowance recorded:
 
 
 
 
 
 
 
Single-family residential
228,186

 
232,595

 
3,809

 
216,632

Land - acquisition & development
1,154

 
2,094

 
1

 
1,766

Land - consumer lot loans
9,630

 
10,678

 
1

 
9,548

Multi-family
1,505

 
1,505

 
13

 
1,522

Commercial real estate
19,434

 
22,848

 
91

 
19,311

HELOC
1,506

 
1,521

 
—

 
1,413

Consumer
116

 
306

 
—

 
100

 
261,531

 
271,547

 
3,915

(1)
250,292

Total impaired loans:
 
 
 
 
 
 
 
Single-family residential
237,813

 
243,961

 
3,809

 
223,143

Land - acquisition & development
1,292

 
11,095

 
1

 
2,380

Land - consumer lot loans
10,129

 
11,287

 
1

 
9,865

Multi-family
1,899

 
5,477

 
13

 
2,160

Commercial real estate
31,175

 
44,149

 
91

 
25,571

Commercial & industrial
1,030

 
3,082

 
—

 
863

HELOC
1,715

 
1,836

 
—

 
1,578

Consumer
190

 
856

 
—

 
211

 
$
285,243

 
$
321,743

 
$
3,915

(1)
$
265,771


(1)
Includes $366,000 of specific reserves and $3,549,000 included in the general reserves