XML 28 R18.htm IDEA: XBRL DOCUMENT v3.10.0.1
Allowance for Losses on Loans (Tables)
 9 Months Ended
Jun. 30, 2018
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 June 30, 2018
Beginning
Allowance
 
Charge-offs
 
Recoveries
 
Provision &
Transfers
 
Ending
Allowance
 
(In thousands)
Single-family residential
$
34,144

 
$
(299
)
 
$
283

 
$
273

 
$
34,401

Construction
27,389

 
—

 
—

 
2,744

 
30,133

Construction - custom
2,081

 
—

 
—

 
(67
)
 
2,014

Land - acquisition & development
7,622

 
(12
)
 
2,699

 
(2,609
)
 
7,700

Land - consumer lot loans
2,853

 
(1
)
 
35

 
20

 
2,907

Multi-family
7,982

 
—

 
—

 
109

 
8,091

Commercial real estate
11,588

 
—

 
91

 
(100
)
 
11,579

Commercial & industrial
29,330

 
(3,317
)
 
433

 
1,069

 
27,515

HELOC
802

 
—

 
—

 
9

 
811

Consumer
3,785

 
(45
)
 
223

 
(448
)
 
3,515

 
$
127,576

 
$
(3,674
)
 
$
3,764

 
$
1,000

 
$
128,666


Three Months Ended June 30, 2017
Beginning
Allowance
 
Charge-offs
 
Recoveries
 
Provision &
Transfers
 
Ending
Allowance
 
(In thousands)
Single-family residential
$
37,164

 
$
(267
)
 
$
81

 
$
1,133

 
$
38,111

Construction
25,061

 
—

 
—

 
(3,195
)
 
21,866

Construction - custom
1,176

 
—

 
—

 
714

 
1,890

Land - acquisition & development
6,669

 
—

 
863

 
(315
)
 
7,217

Land - consumer lot loans
2,513

 
—

 
118

 
(83
)
 
2,548

Multi-family
7,929

 
—

 
—

 
(17
)
 
7,912

Commercial real estate
10,772

 
—

 
164

 
411

 
11,347

Commercial & industrial
28,365

 
—

 
154

 
653

 
29,172

HELOC
826

 
—

 
1

 
50

 
877

Consumer
1,447

 
(144
)
 
282

 
(296
)
 
1,289

 
$
121,922

 
$
(411
)
 
$
1,663

 
$
(945
)
 
$
122,229


Nine Months Ended June 30, 2018
Beginning
Allowance
 
Charge-offs
 
Recoveries
 
Provision &
Transfers
 
Ending
Allowance
 
(In thousands)
Single-family residential
$
36,892

 
$
(1,049
)
 
$
615

 
$
(2,057
)
 
$
34,401

Construction
24,556

 
—

 
—

 
5,577

 
30,133

Construction - custom
1,944

 
(50
)
 
—

 
120

 
2,014

Land - acquisition & development
6,829

 
(12
)
 
7,278

 
(6,395
)
 
7,700

Land - consumer lot loans
2,649

 
(67
)
 
35

 
290

 
2,907

Multi-family
7,862

 
—

 
—

 
229

 
8,091

Commercial real estate
11,818

 
(36
)
 
92

 
(295
)
 
11,579

Commercial & industrial
28,524

 
(3,433
)
 
603

 
1,821

 
27,515

HELOC
855

 
(1
)
 
—

 
(43
)
 
811

Consumer
1,144

 
(217
)
 
785

 
1,803

 
3,515

 
$
123,073

 
$
(4,865
)
 
$
9,408

 
$
1,050

 
$
128,666



Nine Months Ended June 30, 2017
Beginning
Allowance
 
Charge-offs
 
Recoveries
 
Provision &
Transfers
 
Ending
Allowance
 
(In thousands)
Single-family residential
$
37,796

 
$
(763
)
 
$
455

 
$
623

 
$
38,111

Construction
19,838

 
—

 
—

 
2,028

 
21,866

Construction - custom
1,080

 
(3
)
 
—

 
813

 
1,890

Land - acquisition & development
6,023

 
(63
)
 
9,092

 
(7,835
)
 
7,217

Land - consumer lot loans
2,535

 
(17
)
 
368

 
(338
)
 
2,548

Multi-family
6,925

 
—

 
—

 
987

 
7,912

Commercial real estate
8,588

 
(11
)
 
1,684

 
1,086

 
11,347

Commercial & industrial
28,008

 
(163
)
 
1,096

 
231

 
29,172

HELOC
813

 
(90
)
 
2

 
152

 
877

Consumer
1,888

 
(798
)
 
975

 
(776
)
 
1,289

 
$
113,494

 
$
(1,908
)
 
$
13,672

 
$
(3,029
)
 
$
122,229
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.
 
June 30, 2018
Loans Collectively Evaluated for Impairment
 
Loans Individually Evaluated for Impairment
 
Allowance Allocation
 
Recorded Investment of Loans
 
Ratio
 
Allowance Allocation
 
Recorded Investment of Loans
 
Ratio
 
(In thousands, except ratio data)
 
(In thousands, except ratio data)
Single-family residential
$
34,401

 
$
5,726,737

 
0.6
%
 
$
—

 
$
24,139

 
—
%
Construction
30,133

 
1,007,676

 
3.0

 
—

 
4,563

 
—

Construction - custom
2,014

 
285,858

 
0.7

 
—

 
—

 
—

Land - acquisition & development
7,700

 
118,323

 
6.5

 
—

 
3,184

 
—

Land - consumer lot loans
2,907

 
97,310

 
3.0

 
—

 
833

 
—

Multi-family
8,086

 
1,343,468

 
0.6

 
5

 
3,045

 
0.2

Commercial real estate
11,502

 
1,388,029

 
0.8

 
77

 
31,805

 
0.2

Commercial & industrial
27,515

 
1,087,664

 
2.5

 
—

 
45,400

 
—

HELOC
811

 
134,522

 
0.6

 
—

 
562

 
—

Consumer
3,515

 
188,004

 
1.9

 
—

 
26

 
—

 
$
128,584

 
$
11,377,591

 
1.1
%
 
$
82

 
$
113,557

 
0.1
%


September 30, 2017
Loans Collectively Evaluated for Impairment
 
Loans Individually Evaluated for Impairment
 
Allowance Allocation
 
Recorded Investment of Loans
 
Ratio
 
Allowance Allocation
 
Recorded Investment of Loans
 
Ratio
 
(In thousands, except ratio data)
 
(In thousands, except ratio data)
Single-family residential
$
36,892

 
$
5,713,576

 
0.7
%
 
$
—

 
$
5,552

 
—
%
Construction
24,556

 
793,958

 
3.1

 
—

 
—

 
—

Construction - custom
1,944

 
277,495

 
0.7

 
—

 
105

 
—

Land - acquisition & development
6,828

 
104,767

 
6.5

 
1

 
89

 
1.0

Land - consumer lot loans
2,649

 
96,337

 
2.8

 
—

 
171

 
—

Multi-family
7,857

 
1,302,625

 
0.6

 
5

 
493

 
1.0

Commercial real estate
11,698

 
1,391,668

 
0.8

 
120

 
21,765

 
0.6

Commercial & industrial
28,524

 
1,093,210

 
2.6

 
—

 
81

 
—

HELOC
855

 
141,689

 
0.6

 
—

 
215

 
—

Consumer
1,144

 
84,887

 
1.4

 
—

 
82

 
—

 
$
122,947

 
$
11,000,212

 
1.1
%
 
$
126

 
$
28,553

 
0.4
%
Summary of Loans Based on Credit Quality Indicators
The following tables provide information on loans based on risk rating categories as defined above.
June 30, 2018
Internally Assigned Grade
 
 
 
Pass
 
Special mention
 
Substandard
 
Doubtful
 
Loss
 
Total Gross Loans
 
(In thousands, except ratio data)
Loan type
 
 
 
 
 
 
 
 
 
 
 
  Single-family residential
$
5,713,075

 
$
—

 
$
32,523

 
$
—

 
$
—

 
$
5,745,598

  Construction
1,880,415

 
55

 
4,564

 
—

 
—

 
1,885,034

  Construction - custom
612,688

 
—

 
—

 
—

 
—

 
612,688

  Land - acquisition & development
147,864

 
—

 
3,072

 
—

 
—

 
150,936

  Land - consumer lot loans
102,476

 
—

 
642

 
—

 
—

 
103,118

  Multi-family
1,343,950

 
—

 
2,584

 
—

 
—

 
1,346,534

  Commercial real estate
1,402,581

 
4,900

 
27,937

 
—

 
—

 
1,435,418

  Commercial & industrial
1,084,175

 
9,582

 
39,318

 
—

 
—

 
1,133,075

  HELOC
136,122

 
—

 
644

 
—

 
—

 
136,766

  Consumer
188,093

 
—

 
32

 
—

 
—

 
188,125

Total gross loans
$
12,611,439

 
$
14,537

 
$
111,316

 
$
—

 
$
—

 
$
12,737,292

 
 
 
 
 
 
 
 
 
 
 
 
Total grade as a % of total gross loans
99.0
%
 
0.1
%
 
0.9
%
 
—
%
 
—
%
 
 

September 30, 2017
Internally Assigned Grade
 
 
 
Pass
 
Special mention
 
Substandard
 
Doubtful
 
Loss
 
Total Gross Loans
 
(In thousands, except ratio data)
Loan type
 
 
 
 
 
 
 
 
 
 
 
 Single-family residential
$
5,671,229

 
$
—

 
$
39,775

 
$
—

 
$
—

 
$
5,711,004

 Construction
1,594,926

 
—

 
3,070

 
—

 
—

 
1,597,996

 Construction - custom
602,540

 
—

 
91

 
—

 
—

 
602,631

 Land - acquisition & development
123,028

 
207

 
1,073

 
—

 
—

 
124,308

 Land - consumer lot loans
103,787

 
—

 
618

 
—

 
—

 
104,405

 Multi-family
1,295,261

 
5,795

 
2,092

 
—

 
—

 
1,303,148

 Commercial real estate
1,391,996

 
5,944

 
36,670

 
—

 
—

 
1,434,610

 Commercial & industrial
1,054,972

 
14,814

 
23,574

 
—

 
—

 
1,093,360

 HELOC
144,229

 
—

 
621

 
—

 
—

 
144,850

 Consumer
84,984

 
—

 
91

 
—

 
—

 
85,075

Total gross loans
$
12,066,952

 
$
26,760

 
$
107,675

 
$
—

 
$
—

 
$
12,201,387

 
 
 
 
 
 
 
 
 
 
 
 
Total grade as a % of total gross loans
98.9
%
 
0.2
%
 
0.9
%
 
—
%
 
—
%
 
 



The following tables provide information on gross loans based on borrower payment activity.

June 30, 2018
Performing Loans
 
Non-Performing Loans
 
Amount
 
% of Total
Gross  Loans
 
Amount
 
% of Total
Gross  Loans
 
(In thousands, except ratio data)
Single-family residential
$
5,719,479

 
99.5
%
 
$
26,119

 
0.5
%
Construction
1,883,193

 
99.9

 
1,841

 
0.1

Construction - custom
612,688

 
100.0

 
—

 
—

Land - acquisition & development
149,179

 
98.8

 
1,757

 
1.2

Land - consumer lot loans
102,476

 
99.4

 
642

 
0.6

Multi-family
1,346,534

 
100.0

 
—

 
—

Commercial real estate
1,425,734

 
99.3

 
9,684

 
0.7

Commercial & industrial
1,113,199

 
98.2

 
19,876

 
1.8

HELOC
136,129

 
99.5

 
637

 
0.5

Consumer
188,097

 
100.0

 
28

 
—

 
$
12,676,708

 
99.5
%
 
$
60,584

 
0.5
%
September 30, 2017
Performing Loans
 
Non-Performing Loans
 
Amount
 
% of Total
Gross  Loans
 
Amount
 
% of Total
Gross  Loans
 
(In thousands, except ratio data)
Single-family residential
$
5,683,074

 
99.5
%
 
$
27,930

 
0.5
%
Construction
1,597,996

 
100.0

 
—

 
—

Construction - custom
602,540

 
99.9

 
91

 
0.1

Land - acquisition & development
124,012

 
99.8

 
296

 
0.2

Land - consumer lot loans
103,800

 
99.4

 
605

 
0.6

Multi-family
1,303,009

 
99.9

 
139

 
0.1

Commercial real estate
1,422,795

 
99.2

 
11,815

 
0.8

Commercial & industrial
1,085,278

 
99.3

 
8,082

 
0.7

HELOC
144,319

 
99.6

 
531

 
0.4

Consumer
84,984

 
99.9

 
91

 
0.1

 
$
12,151,807

 
99.6
%
 
$
49,580

 
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. 
June 30, 2018
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average Recorded Investment
(Year-To-Date)
 
(In thousands)
Impaired loans with no related allowance recorded:
 
 
 
 
 
 
 
Single-family residential
$
22,114

 
$
23,310

 
$
—

 
$
21,944

Construction
4,843

 
4,933

 
—

 
2,928

Construction - custom
—

 
—

 
—

 
37

Land - acquisition & development
3,073

 
3,120

 
—

 
1,741

Land - consumer lot loans
455

 
490

 
—

 
337

Multi-family
2,606

 
2,606

 
—

 
1,403

Commercial real estate
26,818

 
31,372

 
—

 
22,338

Commercial & industrial
35,427

 
35,736

 
—

 
19,507

HELOC
562

 
655

 
—

 
486

Consumer
26

 
68

 
—

 
56

 
95,924

 
102,290

 
—

 
70,777

Impaired loans with an allowance recorded:
 
 
 
 
 
 
 
Single-family residential
153,356

 
156,644

 
2,792

 
167,211

Land - acquisition & development
—

 
—

 
—

 
23

Land - consumer lot loans
5,136

 
5,502

 
—

 
6,832

Multi-family
461

 
461

 
5

 
477

Commercial real estate
7,162

 
7,975

 
77

 
11,492

Commercial & industrial
3,924

 
6,964

 
—

 
4,547

HELOC
1,491

 
1,575

 
—

 
1,500

Consumer
73

 
73

 
—

 
87

 
171,603

 
179,194

 
2,874

(1)
192,169

Total impaired loans:
 
 
 
 
 
 
 
Single-family residential
175,470

 
179,954

 
2,792

 
189,155

Construction
4,843

 
4,933

 
—

 
2,928

Construction - custom
—

 
—

 
—

 
37

Land - acquisition & development
3,073

 
3,120

 
—

 
1,764

Land - consumer lot loans
5,591

 
5,992

 
—

 
7,169

Multi-family
3,067

 
3,067

 
5

 
1,880

Commercial real estate
33,980

 
39,347

 
77

 
33,830

Commercial & industrial
39,351

 
42,700

 
—

 
24,054

HELOC
2,053

 
2,230

 
—

 
1,986

Consumer
99

 
141

 
—

 
143

 
$
267,527

 
$
281,484

 
$
2,874

(1)
$
262,946



(1)
Includes $82,000 of specific reserves and $2,792,000 included in the general reserves.


September 30, 2017
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average Recorded Investment
(Year-To-Date)
 
(In thousands)
Impaired loans with no related allowance recorded:
 
 
 
 
 
 
 
Single-family residential
$
21,325

 
$
23,880

 
$
—

 
$
19,371

Construction - custom
148

 
165

 
—

 
231

Land - acquisition & development
330

 
8,208

 
—

 
176

Land - consumer lot loans
208

 
330

 
—

 
431

Multi-family
139

 
3,231

 
—

 
748

Commercial real estate
12,890

 
22,487

 
—

 
11,466

Commercial & industrial
8,279

 
14,321

 
—

 
7,425

HELOC
490

 
1,212

 
—

 
487

Consumer
88

 
1,433

 
—

 
57

 
43,897

 
75,267

 
—

 
40,392

Impaired loans with an allowance recorded:
 
 
 
 
 
 
 
Single-family residential
181,941

 
186,167

 
4,030

 
204,723

Land - acquisition & development
90

 
90

 
1

 
576

Land - consumer lot loans
7,949

 
8,526

 
—

 
8,976

Multi-family
493

 
493

 
5

 
1,024

Commercial real estate
15,079

 
16,707

 
120

 
16,991

Commercial & industrial
—

 
—

 
—

 
297

HELOC
1,728

 
1,806

 
—

 
1,451

Consumer
97

 
284

 
—

 
100

 
207,377

 
214,073

 
4,156

(1)
234,138

Total impaired loans:
 
 
 
 
 
 
 
Single-family residential
203,266

 
210,047

 
4,030

 
224,094

Construction - custom
148

 
165

 
—

 
231

Land - acquisition & development
420

 
8,298

 
1

 
752

Land - consumer lot loans
8,157

 
8,856

 
—

 
9,407

Multi-family
632

 
3,724

 
5

 
1,772

Commercial real estate
27,969

 
39,194

 
120

 
28,457

Commercial & industrial
8,279

 
14,321

 
—

 
7,722

HELOC
2,218

 
3,018

 
—

 
1,938

Consumer
185

 
1,717

 
—

 
157

 
$
251,274

 
$
289,340

 
$
4,156

(1)
$
274,530


(1)
Includes $126,000 of specific reserves and $4,030,000 included in the general reserves