XML 38 R25.htm IDEA: XBRL DOCUMENT v3.24.3
LOANS & ALLOWANCE FOR CREDIT LOSSES (Tables)
 3 Months Ended
Sep. 30, 2024
Receivables [Abstract]  
Schedule of Composition of the Loan Portfolio
The following table sets forth the composition of the loan portfolio:
(Dollars in thousands)September 30, 2024June 30, 2024
Single Family - Mortgage & Warehouse$4,151,583 $4,178,832 
Multifamily and Commercial Mortgage1
3,647,469 3,861,931 
Commercial Real Estate1
6,256,265 6,088,622 
Commercial & Industrial - Non-RE5,354,752 5,241,766 
Auto & Consumer415,765 431,660 
Total gross loans19,825,834 19,802,811 
Allowance for credit losses - loans(263,854)(260,542)
Unaccreted premiums (discounts) and loan fees(281,371)(310,884)
Total net loans$19,280,609 $19,231,385 
1 Includes purchased credit deteriorated (“PCD”) loans of $282.6 million and $284.0 million in Multifamily and Commercial Mortgage and $44.5 million and $44.5 million in Commercial Real Estate as of September 30, 2024 and June 30, 2024, respectively. For further detail on PCD loans, see Note 1—“Organizations and Summary of Significant Accounting Policies” in the 2024 Form 10-K.
Schedule of Real Estate Loans, Loan-to-Value Ratio
The following table presents loan-to-value (“LTV”) for the Company’s real estate loans outstanding as of September 30, 2024:
Total Real Estate LoansSingle Family - Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real Estate
Weighted-Average LTV47.9 %55.8 %52.1 %40.1 %
Median LTV52.0 %54.0 %50.0 %43.5 %
Schedule of Allowance for Credit Losses on Financing Receivables
The following table presents the components of the provision for credit losses:
September 30,
(Dollars in thousands)
20242023
Provision for credit losses - loans
$11,500 $5,750 
Provision for credit losses - unfunded lending commitments
2,500 1,250 
    Total provision for credit losses
$14,000 $7,000 
The following tables summarize activity in the allowance for credit losses - loans by portfolio segment:
For the Three Months Ended September 30, 2024
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Balance at July 1, 2024
$16,943 $70,771 $87,780 $76,032 $9,016 $260,542 
Provision (benefit) for credit losses - loans464 (1,806)7,252 3,555 2,035 11,500 
Charge-offs— (3,357)— (3,032)(2,849)(9,238)
Recoveries46 — — — 1,004 1,050 
Balance at September 30, 2024
$17,453 $65,608 $95,032 $76,555 $9,206 $263,854 
For the Three Months Ended September 30, 2023
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Balance at July 1, 2023
$17,503 $16,848 $72,755 $46,347 $13,227 $166,680 
Provision (benefit) for credit losses - loans(10)(974)(1,400)8,245 (111)5,750 
Charge-offs(80)— — — (2,281)(2,361)
Recoveries13 — — — 788 801 
Balance at September 30, 2023
$17,426 $15,874 $71,355 $54,592 $11,623 $170,870 
The following tables present a summary of the activity in the allowance for credit losses for off-balance sheet lending commitments:
Three Months Ended September 30,
(Dollars in thousands)20242023
Balance at July 1,
$10,223 $10,473 
Provision for credit losses - unfunded lending commitments
2,500 1,250 
Balance at September 30,
$12,723 $11,723 
Schedule of Outstanding Principal Balance on Loans Performing and Nonaccrual
September 30, 2024
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Performing$4,092,504 $3,616,032 $6,215,663 $5,311,156 $413,781 $19,649,136 
Nonaccrual59,079 31,437 40,602 43,596 1,984 176,698 
Total$4,151,583 $3,647,469 $6,256,265 $5,354,752 $415,765 $19,825,834 
Nonaccrual loans to total loans0.89 %
June 30, 2024
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Performing$4,133,121 $3,826,877 $6,062,520 $5,237,746 $429,188 $19,689,452 
Nonaccrual45,711 35,054 26,102 4,020 2,472 113,359 
Total$4,178,832 $3,861,931 $6,088,622 $5,241,766 $431,660 $19,802,811 
Nonaccrual loans to total loans0.57 %
Schedule of Composition of Loan and Lease Portfolio by Credit Quality Indicators
The following tables present the composition of loans by portfolio segment, fiscal year of origination and credit quality indicator, and the amount of year-to-date gross charge-offs.
September 30, 2024
Loans Held for Investment by Fiscal Year of Origination
Revolving Loans Total
(Dollars in thousands)20252024202320222021Prior
Single Family-Mortgage & Warehouse
Pass$123,052 $434,335 $550,071 $1,171,584 $476,230 $912,453 $345,288 $4,013,013 
Special Mention— 31,000 — 7,374 5,394 34,621 — 78,389 
Substandard— — 1,085 9,668 — 49,428 — 60,181 
Doubtful— — — — — — — — 
Total123,052 465,335 551,156 1,188,626 481,624 996,502 345,288 4,151,583 
Year-to-date gross charge-offs— — — — — — — — 
Multifamily and Commercial Mortgage
Pass6,410 30,848 652,262 1,023,889 493,090 1,221,788 — 3,428,287 
Special Mention— — 23,774 41,030 8,975 52,624 — 126,403 
Substandard— — 9,166 7,435 29,396 46,782 — 92,779 
Doubtful— — — — — — — — 
Total6,410 30,848 685,202 1,072,354 531,461 1,321,194 — 3,647,469 
Year-to-date gross charge-offs— — — — — 3,357 — 3,357 
Commercial Real Estate
Pass725,167 1,939,760 1,144,414 1,234,466 143,009 45,487 871,853 6,104,156 
Special Mention— 63,389 — — — — — 63,389 
Substandard— — 14,608 43,700 11,650 14,852 3,910 88,720 
Doubtful— — — — — — — — 
Total725,167 2,003,149 1,159,022 1,278,166 154,659 60,339 875,763 6,256,265 
Year-to-date gross charge-offs— — — — — — — — 
Commercial & Industrial - Non-RE
Pass201,920 923,047 465,232 151,653 42,580 31,291 3,299,654 5,115,377 
Special Mention— 13,500 386 678 3,893 — 4,284 22,741 
Substandard— 243 32,942 128,295 — 2,989 42,165 206,634 
Doubtful— — — 10,000 — — — 10,000 
Total201,920 936,790 498,560 290,626 46,473 34,280 3,346,103 5,354,752 
Year-to-date gross charge-offs— — — — 1,032 — 2,000 3,032 
Auto & Consumer
Pass28,400 62,125 103,149 158,952 38,274 21,978 — 412,878 
Special Mention— 34 275 390 69 26 — 794 
Substandard— 9 567 1,108 234 175 — 2,093 
Doubtful— — — — — — — — 
Total28,400 62,168 103,991 160,450 38,577 22,179 — 415,765 
Year-to-date gross charge-offs— 197 626 1,354 494 178 — 2,849 
Total
Pass1,084,949 3,390,115 2,915,128 3,740,544 1,193,183 2,232,997 4,516,795 19,073,711 
Special Mention— 107,923 24,435 49,472 18,331 87,271 4,284 291,716 
Substandard— 252 58,368 190,206 41,280 114,226 46,075 450,407 
Doubtful— — — 10,000 — — — 10,000 
Total$1,084,949 $3,498,290 $2,997,931 $3,990,222 $1,252,794 $2,434,494 $4,567,154 $19,825,834 
As a % of total gross loans5.5%17.6%15.1%20.1%6.3%12.3%23.1%100.0%
Total year-to-date gross charge-offs$— $197 $626 $1,354 $1,526 $3,535 $2,000 $9,238 
June 30, 2024
Loans Held for Investment by Fiscal Year of Origination
Revolving Loans Total
(Dollars in thousands)20242023202220212020Prior
Single Family-Mortgage & Warehouse
Pass$491,822 $590,060 $1,200,230 $487,132 $291,047 $720,049 $256,778 $4,037,118 
Special Mention31,000 — 24,489 665 6,591 26,873 — 89,618 
Substandard— 283 6,728 — 14,720 30,365 — 52,096 
Doubtful— — — — — — — — 
Total522,822 590,343 1,231,447 487,797 312,358 777,287 256,778 4,178,832 
Year-to-date gross charge-offs— — — — — 172 — 172 
Multifamily and Commercial Mortgage
Pass36,058 700,163 994,004 595,299 510,341 811,184 — 3,647,049 
Special Mention— 29,325 46,194 17,478 9,011 10,277 — 112,285 
Substandard— 13,489 12,509 15,507 41,013 20,079 — 102,597 
Doubtful— — — — — — — — 
Total36,058 742,977 1,052,707 628,284 560,365 841,540 — 3,861,931 
Year-to-date gross charge-offs— — — — 640 — — 640 
Commercial Real Estate
Pass1,952,001 1,419,399 1,456,643 221,061 7,741 53,000 866,686 5,976,531 
Special Mention— — 27,452 — — — — 27,452 
Substandard— 5,600 43,700 5,000 — 30,339 — 84,639 
Doubtful— — — — — — — — 
Total1,952,001 1,424,999 1,527,795 226,061 7,741 83,339 866,686 6,088,622 
Year-to-date gross charge-offs— — — — — — — — 
Commercial & Industrial - Non-RE
Pass991,497 458,454 238,397 44,923 10,422 12,867 3,295,425 5,051,985 
Special Mention— 1,613 731 1,818 — — 5,349 9,511 
Substandard— 34,433 122,729 1,031 — 2,988 19,089 180,270 
Doubtful— — — — — — — — 
Total991,497 494,500 361,857 47,772 10,422 15,855 3,319,863 5,241,766 
Year-to-date gross charge-offs— — — — — 84 — 84 
Auto & Consumer
Pass65,766 114,615 177,043 43,287 13,402 14,056 — 428,169 
Special Mention33 213 422 176 — 61 — 905 
Substandard142 547 1,264 410 114 109 — 2,586 
Doubtful— — — — — — — — 
Total65,941 115,375 178,729 43,873 13,516 14,226 — 431,660 
Year-to-date gross charge-offs202 3,471 5,212 1,556 303 269 — 11,013 
Total
Pass3,537,144 3,282,691 4,066,317 1,391,702 832,953 1,611,156 4,418,889 19,140,852 
Special Mention31,033 31,151 99,288 20,137 15,602 37,211 5,349 239,771 
Substandard142 54,352 186,930 21,948 55,847 83,880 19,089 422,188 
Doubtful— — — — — — — — 
Total$3,568,319 $3,368,194 $4,352,535 $1,433,787 $904,402 $1,732,247 $4,443,327 $19,802,811 
As a % of total gross loans18.0%17.0%22.0%7.2%4.6%8.8%22.4%100.0%
Total year-to-date gross charge-offs$202 $3,471 $5,212 $1,556 $943 $525 $— $11,909 
Schedule of Past Due Loan and Leases
The following tables provide the aging of loans by portfolio segment:
September 30, 2024
(Dollars in thousands)Current30-59 Days60-89 Days90+ DaysTotal
Single Family-Mortgage & Warehouse$4,059,299 $20,107 $13,715 $58,462 $4,151,583 
Multifamily and Commercial Mortgage3,572,637 29,631 9,648 35,553 3,647,469 
Commercial Real Estate6,179,503 7,610 5,000 64,152 6,256,265 
Commercial & Industrial - Non-RE5,348,357 6,395 — — 5,354,752 
Auto & Consumer408,728 4,992 1,043 1,002 415,765 
Total$19,568,524 $68,735 $29,406 $159,169 $19,825,834 
As a % of total gross loans98.70 %0.35 %0.15 %0.80 %100 %
June 30, 2024
(Dollars in thousands)Current30-59 Days60-89 Days90+ DaysTotal
Single Family-Mortgage & Warehouse$4,070,186 $46,387 $18,401 $43,858 $4,178,832 
Multifamily and Commercial Mortgage3,795,387 13,074 8,554 44,916 3,861,931 
Commercial Real Estate6,024,470 — 25,950 38,202 6,088,622 
Commercial & Industrial - Non-RE
5,240,734 — — 1,032 5,241,766 
Auto & Consumer424,555 4,644 996 1,465 431,660 
Total$19,555,332 $64,105 $53,901 $129,473 $19,802,811 
As a % of total gross loans98.75 %0.33 %0.27 %0.65 %100 %