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Allowance for Loan Losses (Tables)
 12 Months Ended
Sep. 30, 2020
Receivables [Abstract]  
ASU and change in accounting principle
The Company recorded a decrease to retained earnings of $21,945,000 as of October 1, 2019 for the cumulative effect of adopting ASC 326 as further detailed below.
September 30, 2019CECL Adoption ImpactOctober 1, 2019
(In thousands)
Allowance for credit losses:
Commercial loans
   Multi-family$7,391 $3,013 $10,404 
   Commercial real estate13,170 (146)13,024 
   Commercial & industrial31,450 785 32,235 
   Construction32,304 (9,536)22,768 
   Land - acquisition & development9,155 1,749 10,904 
      Total commercial loans93,470 (4,135)89,335 
Consumer loans
   Single-family residential30,988 16,783 47,771 
   Construction - custom1,369 1,511 2,880 
   Land - consumer lot loans2,143 492 2,635 
   HELOC1,103 945 2,048 
   Consumer2,461 2,154 4,615 
      Total consumer loans38,064 21,885 59,949 
Total allowance for loan losses131,534 17,750 149,284 
Reserve for unfunded commitments6,900 10,750 17,650 
Total allowance for credit losses$138,434 $28,500 $166,934 
Retained earnings
Total pre-tax impact$28,500 
Tax effect(6,555)
Decrease to retained earnings$21,945 
September 30, 2019CECL Adoption ImpactOctober 1, 2019 (Post ASC 326 Adoption)September 30, 2020
(In thousands)
Allowance for credit losses:
Commercial loans
   Multi-family$7,391 $3,013 $10,404 $13,853 
   Commercial real estate13,170 (146)13,024 22,516 
   Commercial & industrial31,450 785 32,235 38,665 
   Construction32,304 (9,536)22,768 24,156 
   Land - acquisition & development9,155 1,749 10,904 10,733 
      Total commercial loans93,470 (4,135)89,335 109,923 
Consumer loans
   Single-family residential30,988 16,783 47,771 45,186 
   Construction - custom1,369 1,511 2,880 3,555 
   Land - consumer lot loans2,143 492 2,635 2,729 
   HELOC1,103 945 2,048 2,571 
   Consumer2,461 2,154 4,615 2,991 
      Total consumer loans38,064 21,885 59,949 57,032 
Total allowance for loan losses$131,534 $17,750 149,284 166,955 
Reserve for unfunded commitments$6,900 $10,750 17,650 25,000 
Total allowance for credit losses$138,434 $28,500 $166,934 $191,955 
Summary of activity in allowance for loan losses
The following tables summarize the activity in the allowance for loan losses by loan portfolio segment and class.  

Twelve Months Ended September 30, 2020Beginning
Allowance
(Before ASC 326 Adoption)		Impact of ASC 326 AdoptionCharge-offsRecoveriesProvision &
Transfers		Ending Allowance (After ASC 326 Adoption)
 (In thousands)
Commercial loans
   Multi-family$7,391 $3,013 $— $498 $2,951 $13,853 
   Commercial real estate13,170 (146)(111)2,447 7,156 22,516 
   Commercial & industrial31,450 785 (4,196)443 10,183 38,665 
   Construction - speculative32,304 (9,536)— 188 1,200 24,156 
 Land - acquisition & development9,155 1,749 (11)2,070 (2,230)10,733 
      Total commercial loans93,470 (4,135)(4,318)5,646 19,260 109,923 
Consumer loans
   Single-family residential30,988 16,783 (131)1,394 (3,848)45,186 
   Construction - custom1,369 1,511 — — 675 3,555 
   Land - consumer lot loans2,143 492 (237)639 (308)2,729 
   HELOC1,103 945 — 95 428 2,571 
   Consumer2,461 2,154 (1,069)1,252 (1,807)2,991 
      Total consumer loans38,064 21,885 (1,437)3,380 (4,860)57,032 
$131,534 $17,750 $(5,755)$9,026 $14,400 $166,955 

Twelve Months Ended September 30, 2019Beginning Allowance
(Before ASC 326 Adoption)		Charge-offsRecoveriesProvision &
Transfers		Ending Allowance (Before ASC 326 Adoption)
(In thousands)
Commercial loans
   Multi-family$8,329 $— $— $(938)$7,391 
   Commercial real estate11,852 (428)1,102 644 13,170 
   Commercial & industrial28,702 (5,782)3,443 5,087 31,450 
   Construction - speculative31,317 — 99 888 32,304 
   Land - acquisition & development7,978 (107)7,457 (6,173)9,155 
      Total commercial loans88,178 (6,317)12,101 (492)93,470 
Consumer loans
   Single-family residential33,033 (268)1,020 (2,797)30,988 
   Construction - custom1,842 (1,973)— 1,500 1,369 
   Land - consumer lot loans2,164 (804)719 64 2,143 
   HELOC781 (1,086)46 1,362 1,103 
   Consumer3,259 (1,028)1,167 (937)2,461 
      Total consumer loans41,079 (5,159)2,952 (808)38,064 
$129,257 $(11,476)$15,053 $(1,300)$131,534 
Summary of loans collectively and individually evaluated for impairment and related allocation of reserves
The following table shows loans collectively and individually evaluated for impairment and the related general and specific reserves.

September 30, 2019Loans Collectively Evaluated for ImpairmentLoans Individually Evaluated for Impairment
 General  Reserve
Allocation		Recorded Investment of LoansRatioSpecific  Reserve
Allocation		Recorded Investment of LoansRatio
 (In thousands) (In thousands)
Commercial loans
   Multi-family$7,387 $1,422,266 0.5 %$4 $385 1.0 %
   Commercial real estate12,847 1,618,406 0.8 323 12,765 2.5 
   Commercial & industrial31,358 1,266,913 2.5 92 1,805 5.1 
   Construction - speculative32,304 1,164,889 2.8 — — — 
   Land - acquisition & development9,135 160,964 5.7 20 230 8.7 
      Total commercial loans93,031 5,633,438 1.7 439 15,185 2.9 
Consumer loans
   Single-family residential30,988 5,822,200 0.5 — 17,978 — 
   Construction - custom1,369 255,505 0.5 — — — 
   Land - consumer lot loans2,143 95,574 2.2 — 375 — 
   HELOC1,103 140,378 0.8 — 837 — 
   Consumer2,461 129,527 1.9 — 50 — 
      Total consumer loans38,064 6,443,184 0.6 — 19,240 — 
$131,095 $12,076,622 1.1 %$439 $34,425 1.3 %
Summary of loans based on credit quality indicators The following tables present by credit quality indicator, loan class, and year of origination, the amortized cost basis of loans receivable as of September 30, 2020.
Term Loans Amortized Cost Basis by Origination Year
(In thousands)20202019201820172016Prior to 2016Revolving LoansRevolving to Term LoansTotal Loans
Commercial loans
Multi-family
Pass$397,008 $151,175 $267,832 $243,349 $177,888 $255,177 $14,263 $— $1,506,692 
Special Mention649 2,815 907 4,515 2,654 2,181 — — 13,721 
Substandard— 7,543 3,974 3,791 2,298 221 — — 17,827 
Total$397,657 $161,533 $272,713 $251,655 $182,840 $257,579 $14,263 $— $1,538,240 
Commercial real estate
Pass$425,246 $243,780 $259,958 $265,841 $182,584 $301,156 $2,558 $107 $1,681,230 
Special Mention5,096 13,694 3,987 14,910 303 54,194 — — 92,184 
Substandard4,196 25,607 2,718 38,289 10,041 30,423 — — 111,274 
Total$434,538 $283,081 $266,663 $319,040 $192,928 $385,773 $2,558 $107 $1,884,688 
Commercial & industrial
Pass$908,408 $64,015 $90,796 $79,421 $99,426 $75,672 $580,123 $848 $1,898,709 
Special Mention25,612 7,107 1,167 4,330 24,204 — 2,275 — 64,695 
Substandard30,894 9,696 10,780 901 23,907 4,561 71,223 147 152,109 
Total$964,914 $80,818 $102,743 $84,652 $147,537 $80,233 $653,621 $995 $2,115,513 
Construction
Pass$344,346 $405,030 $239,125 $132,034 $290 $— $66,961 $— $1,187,786 
Special Mention2,275 — 43,486 15,417 — — — — 61,178 
Substandard7 33,457 5,847 21,915 42,224 — — — 103,450 
Total$346,628 $438,487 $288,458 $169,366 $42,514 $— $66,961 $— $1,352,414 
Land - acquisition & development
Pass$47,223 $43,297 $18,139 $18,338 $3,774 $1,911 $5,316 $— $137,998 
Special Mention— — — — — 15,573 — — 15,573 
Total$47,223 $43,297 $18,139 $18,338 $3,774 $17,484 $5,316 $— $153,571 
Total commercial loans
Pass$2,122,231 $907,297 $875,850 $738,983 $463,962 $633,916 $669,221 $955 $6,412,415 
Special Mention33,632 23,616 49,547 39,172 27,161 71,948 2,275 — 247,351 
Substandard35,097 76,303 23,319 64,896 78,470 35,205 71,223 147 384,660 
Total$2,190,960 $1,007,216 $948,716 $843,051 $569,593 $741,069 $742,719 $1,102 $7,044,426 
Term Loans Amortized Cost Basis by Origination Year
(In thousands)20202019201820172016Prior to 2016Revolving LoansRevolving to Term LoansTotal Loans
Consumer loans
Single-family residential
Current$828,030 $585,133 $597,198 $714,066 $523,000 $2,020,181 $— $— $5,267,608 
30 days past due— — — 859 135 2,928 — — 3,922 
60 days past due— — — — — 3,108 — — 3,108 
90+ days past due— 680 — 440 640 17,564 — — 19,324 
Total$828,030 $585,813 $597,198 $715,365 $523,775 $2,043,781 $— $— $5,293,962 
Construction - custom
Current$200,853 $91,940 $3,160 $— $— $— $— $— $295,953 
Total$200,853 $91,940 $3,160 $— $— $— $— $— $295,953 
Land - consumer lot loans
Current$44,908 $18,139 $6,971 $7,693 $2,619 $20,699 $— $— $101,029 
30 days past due— — 152 — — — — — 152 
90+ days past due— — — 122 — 91 — — 213 
Total$44,908 $18,139 $7,123 $7,815 $2,619 $20,790 $— $— $101,394 
HELOC
Current$— $— $— $— $— $6,732 $131,353 $1,406 $139,491 
30 days past due— — — — — 44 231 — 275 
60 days past due— — — — — 37 39 — 76 
90+ days past due— — — — — 30 350 — 380 
Total$— $— $— $— $— $6,843 $131,973 $1,406 $140,222 
Consumer
Current$1,334 $1,527 $58,384 $129 $338 $18,523 $2,724 $— $82,959 
30 days past due— — — 62 — 59 — — 121 
60 days past due— — — — — 11 — — 11 
90+ days past due— 54 — 159 — 6 5 — 224 
Total$1,334 $1,581 $58,384 $350 $338 $18,599 $2,729 $— $83,315 
Total consumer loans
Current$1,075,125 $696,739 $665,713 $721,888 $525,957 $2,066,135 $134,077 $1,406 $5,887,040 
30 days past due— — 152 921 135 3,031 231 — 4,470 
60 days past due— — — — — 3,156 39 — 3,195 
90+ days past due— 734 — 721 640 17,691 355 — 20,141 
Total$1,075,125 $697,473 $665,865 $723,530 $526,732 $2,090,013 $134,702 $1,406 $5,914,846 
The following table provides the amortized cost of loans receivable based on risk rating categories (as previously defined).
 
September 30, 2020Internally Assigned Grade
 PassSpecial mentionSubstandardDoubtfulLossTotal
 (In thousands)
Loan type
Commercial loans
   Multi-family$1,506,692 $13,721 $17,827 $— $— $1,538,240 
   Commercial real estate1,681,230 92,184 111,274 — — 1,884,688 
   Commercial & industrial1,898,709 64,695 152,109 — — 2,115,513 
   Construction - speculative1,187,786 61,178 103,450 — — 1,352,414 
   Land - acquisition & development137,998 15,573 — — — 153,571 
      Total commercial loans6,412,415 247,351 384,660 — — 7,044,426 
Consumer loans
   Single-family residential5,270,666 192 23,104 — — 5,293,962 
   Construction - custom295,953 — — — — 295,953 
   Land - consumer lot loans101,151 — 243 — — 101,394 
   HELOC139,646 — 576 — — 140,222 
   Consumer83,304 — 11 — — 83,315 
      Total consumer loans5,890,720 192 23,934 — — 5,914,846 
Total loans$12,303,135 $247,543 $408,594 $— $— $12,959,272 
Total grade as a % of total loans94.9 %1.9 %3.2 %— %— %

The following table provides the gross loans receivable based on risk rating categories (as previously defined).
September 30, 2019Internally Assigned Grade
 PassSpecial mentionSubstandardDoubtfulLossTotal Gross Loans
 (In thousands)
Loan type
Commercial loans
   Multi-family$1,418,837 $— $3,837 $— $— $1,422,674 
   Commercial real estate1,602,634 2,754 25,782 — — 1,631,170 
   Commercial & industrial1,229,891 18,125 20,679 — — 1,268,695 
   Construction - speculative2,038,052 — — — — 2,038,052 
   Land - acquisition & development200,283 — 3,824 — — 204,107 
      Total commercial loans6,489,697 20,879 54,122 — — 6,564,698 
Consumer loans
   Single-family residential5,808,444 — 26,750 — — 5,835,194 
   Construction - custom540,741 — — — — 540,741 
   Land - consumer lot loans98,828 — 866 — — 99,694 
   HELOC141,271 — 907 — — 142,178 
   Consumer129,872 — 11 — — 129,883 
      Total consumer loans6,719,156 — 28,534 — — 6,747,690 
Total gross loans$13,208,853 $20,879 $82,656 $— $— $13,312,388 
Total grade as a % of total gross loans99.2 %0.2 %0.6 %— %— %
Schedule of gross loans by payment activity
The following table provides information on amortized cost of loans receivable based on borrower payment activity.
 
September 30, 2020Performing LoansNon-Performing Loans
 Amount% of Total LoansAmount% of Total Loans
 (In thousands)(In thousands)
Commercial loans
   Multi-family$1,538,240 100.0 %$— — %
   Commercial real estate1,880,917 99.8 3,771 0.2 
   Commercial & industrial2,115,184 100.0 329 — 
   Construction - speculative1,350,745 99.9 1,669 0.1 
   Land - acquisition & development153,571 100.0 — — 
      Total commercial loans7,038,657 99.9 5,769 0.1 
Consumer loans
   Single-family residential5,271,531 99.6 22,431 0.4 
   Construction - custom295,953 100.0 — — 
   Land - consumer lot loans101,151 99.8 243 0.2 
   HELOC139,669 99.6 553 0.4 
   Consumer83,255 99.9 60 0.1 
      Total consumer loans5,891,559 99.6 23,287 0.4 
Total$12,930,216 99.8 %$29,056 0.2 %

The following table provides information on gross loans based on borrower payment activity.
September 30, 2019Performing LoansNon-Performing Loans
 Amount% of Total
Gross  Loans		Amount% of Total
Gross  Loans
 (In thousands)(In thousands)
Commercial loans
   Multi-family$1,422,674 100.0 %$— — %
   Commercial real estate1,625,335 99.6 5,835 0.4 
   Commercial & industrial1,267,403 99.9 1,292 0.1 
   Construction - speculative2,038,052 100.0 — — 
   Land - acquisition & development203,938 99.9 169 0.1 
      Total commercial loans6,557,402 99.9 7,296 0.1 
Consumer loans
   Single-family residential5,809,923 99.6 25,271 0.4 
   Construction - custom540,741 100.0 — — 
   Land - consumer lot loans99,448 99.8 246 0.2 
   HELOC141,271 99.4 907 0.6 
   Consumer129,872 100.0 11 — 
      Total consumer loans6,721,255 99.6 26,435 0.4 
Total gross loans$13,278,657 99.7 %$33,731 0.3 %
Summary of impaired loans by category
The following table provides information on impaired loan balances and the related allowances by loan types.
 
September 30, 2019Recorded
Investment		Unpaid
Principal
Balance		Related
Allowance		Average
Recorded
Investment
 (In thousands)
Impaired loans with no related allowance recorded:
Multi-family$— $— $— $286 
Commercial real estate7,467 11,881 — 8,890 
Commercial & industrial1,114 5,312 — 7,168 
Construction— — — 1,172 
Land - acquisition & development78 143 — 290 
Single-family residential17,979 19,252 — 16,685 
Construction - custom— — — 251 
Land - consumer lot loans344 848 — 287 
HELOC837 931 — 597 
Consumer50 119 — 23 
27,869 38,486 — 35,649 
Impaired loans with an allowance recorded:
Multi-family385 385 4 418 
Commercial real estate4,168 5,298 323 5,160 
Commercial & industrial426 691 92 2,535 
Construction— — — — 
Land - acquisition & development91 152 — 99 
Single-family residential112,042 114,609 2,208 125,976 
Construction - custom— — — — 
Land - consumer lot loans3,556 3,695 20 4,324 
HELOC949 963 — 961 
Consumer60 282 — 65 
121,677 126,075 2,647 (1)139,538 
Total:
Multi-family385 385 4 704 
Commercial real estate11,635 17,179 323 14,050 
Commercial & industrial1,540 6,003 92 9,703 
Construction— — — 1,172 
Land - acquisition & development169 295 — 389 
Single-family residential130,021 133,861 2,208 142,661 
Construction - custom— — — 251 
Land - consumer lot loans3,900 4,543 20 4,611 
HELOC1,786 1,894 — 1,558 
Consumer110 401 — 88 
$149,546 $164,561 $2,647 (1)$175,187 

____________________ 
(1)Includes $439,000 of specific reserves and $2,208,000 included in the general reserves.