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Loans Receivable
 6 Months Ended
Mar. 31, 2020
Receivables [Abstract]  
Loans Receivable Loans Receivable
The following table is a summary of loans receivable.
 March 31, 2020September 30, 2019
(In thousands)(In thousands)
Gross loans by category
   Single-family residential$5,582,244  41.5 %$5,835,194  43.8 %
   Construction2,204,283  16.4  2,038,052  15.3  
   Construction - custom547,731  4.1  540,741  4.1  
   Land - acquisition & development197,010  1.5  204,107  1.5  
   Land - consumer lot loans96,579  0.7  99,694  0.7  
   Multi-family1,467,231  10.9  1,422,674  10.7  
   Commercial real estate1,717,535  12.8  1,631,170  12.3  
   Commercial & industrial1,371,128  10.2  1,268,695  9.5  
   HELOC145,761  1.1  142,178  1.1  
   Consumer105,147  0.8  129,883  1.0  
Total gross loans13,434,649  100 %13,312,388  100 %
   Less:
      Allowance for loan losses139,501  131,534  
      Loans in process1,289,812  1,201,341  
      Net deferred fees, costs and discounts31,095  48,938  
Total loan contra accounts1,460,408  1,381,813  
Net loans$11,974,241  $11,930,575  

The following table sets forth information regarding non-accrual loans.
 
 March 31, 2020September 30, 2019
 (In thousands, except ratio data)
Non-accrual loans:
Single-family residential$22,859  70.1 %$25,271  74.9 %
Construction3,353  10.3  —  —  
Land - acquisition & development82  0.3  169  0.5  
Land - consumer lot loans408  1.2  246  0.7  
Commercial real estate4,374  13.4  5,835  17.3  
Commercial & industrial470  1.4  1,292  3.8  
HELOC1,064  3.3  907  2.7  
Consumer—  0.0  11  0.0  
Total non-accrual loans$32,610  100 %$33,731  100 %
% of total net loans0.27 %0.28 %

The Company recognized interest income on non-accrual loans of approximately $1,189,000 in the six months ended March 31, 2020. Had these loans been on accrual status and performed according to their original contract terms, the Company would have recognized interest income of approximately $708,000 for the six months ended March 31, 2020. Recognized interest income for the six months ended March 31, 2020 was higher than what otherwise would have been recognized in the period due
to the collection of past due amounts. Interest cash flows collected on non-accrual loans vary from period to period as those loans are brought current or are paid off.

The following tables provide details regarding delinquent loans.
 
March 31, 2020Loans ReceivableDays Delinquent Based on $ Amount of Loans% based
on $
Type of LoanNet of Loans In ProcessCurrent306090Total Delinquent
(In thousands, except ratio data)
Single-family residential$5,582,243  $5,556,051  $5,154  $3,857  $17,181  $26,192  0.47 %
Construction1,235,731  1,232,378  —  —  3,353  3,353  0.27  
Construction - custom270,880  270,880  —  —  —  —  —  
Land - acquisition & development152,623  152,229  394  —  —  394  0.26  
Land - consumer lot loans96,580  95,796  141  270  373  784  0.81  
Multi-family1,467,208  1,466,852  356  —  —  356  0.02  
Commercial real estate1,717,535  1,712,893  580  414  3,648  4,642  0.27  
Commercial & industrial1,371,128  1,368,840  2,215  —  73  2,288  0.17  
HELOC145,761  144,709  151  37  864  1,052  0.72  
Consumer105,148  104,564  276  86  222  584  0.56  
Total Loans$12,144,837  $12,105,192  $9,267  $4,664  $25,714  $39,645  0.33 %
Delinquency %99.67%0.08%0.04%0.21%0.33%


September 30, 2019Loans ReceivableDays Delinquent Based on $ Amount of Loans% based
on $
Type of LoanNet of Loans In ProcessCurrent306090Total Delinquent
(In thousands, except ratio data)
Single-family residential$5,835,186  $5,809,239  $3,672  $3,211  $19,064  $25,947  0.44 %
Construction1,164,889  1,164,889  —  —  —  —  —  
Construction - custom255,505  255,505  —  —  —  —  —  
Land - acquisition & development161,194  161,194  —  —  —  —  —  
Land - consumer lot loans99,694  98,916  112  619  47  778  0.78  
Multi-family1,422,652  1,422,652  —  —  —  —  —  
Commercial real estate1,631,171  1,625,509  1,614  285  3,763  5,662  0.35  
Commercial & industrial1,268,695  1,267,828  —  —  867  867  0.07  
HELOC142,178  140,718  580  183  697  1,460  1.03  
Consumer129,883  129,227  295  117  244  656  0.51  
Total Loans$12,111,047  $12,075,677  $6,273  $4,415  $24,682  $35,370  0.29 %
Delinquency %99.71%0.05%0.04%0.20%0.29%

There are no loans greater than 90 days delinquent and still accruing interest as of either date.
Most loans restructured in TDRs are accruing and performing loans where the borrower has proactively approached the Company about modification due to temporary financial difficulties. As of March 31, 2020, 97.2% of the Company's $104,019,000 in TDRs were classified as performing. Each request for modification is individually evaluated for merit and likelihood of success. The concession granted in a loan modification is typically a payment reduction through a rate reduction of between 100 to 200 basis points for a specific term, usually six to twenty four months. Interest-only payments may also be approved during the modification period. Principal forgiveness is not an available option for restructured loans. As of March 31, 2020, single-family residential loans comprised 93.3% of TDRs.

The Company reserves for restructured loans within its allowance for loan loss methodology by taking into account the following performance indicators: 1) time since modification, 2) current payment status and 3) geographic area.