Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2019

The following tables provide additional information regarding the Company’s allowance for loan losses based upon the method of evaluating loan impairment:

(in thousands)	Mortgage		Other		Total
Allowances for Loan Losses at March 31, 2019:
Loans individually evaluated for impairment	$	—	$	709	$	709
Loans collectively evaluated for impairment		128,766		27,161		155,927
Total	$	128,766	$	27,870	$	156,636

(in thousands)	Mortgage		Other		Total
Allowances for Loan Losses at December 31, 2018:
Loans collectively evaluated for impairment	$	130,983	$	28,837	$	159,820

Additional Information Regarding Methods Used to Evaluate Loan Portfolio for Impairment

The following tables provide additional information regarding the methods used to evaluate the Company’s loan portfolio for impairment:

(in thousands)	Mortgage		Other		Total
Loans Receivable at March 31, 2019:
Loans individually evaluated for impairment	$	13,873	$	49,739	$	63,612
Loans collectively evaluated for impairment		37,760,517		2,663,301		40,423,818
Total	$	37,774,390	$	2,713,040	$	40,487,430

(in thousands)	Mortgage		Other		Total
Loans Receivable at December 31, 2018:
Loans individually evaluated for impairment	$	15,794	$	36,375	$	52,169
Loans collectively evaluated for impairment		37,720,923		2,360,769		40,081,692
Total	$	37,736,717	$	2,397,144	$	40,133,861

Additional Information Regarding Impaired Non-Covered Loans

The following table presents additional information about the Company’s impaired loans at March 31, 2019:

(in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
Impaired loans with no related allowance:
Multi-family	$	4,070	$	7,075	$	—	$	4,145	$	57
Commercial real estate		2,256		7,370		—		2,256		—
One-to-four family		1,012		1,066		—		1,017		6
Acquisition, development, and construction		6,535		7,435		—		7,415		144
Other		34,739		99,775		—		35,557		699
Total impaired loans with no related allowance	$	48,612	$	122,721	$	—	$	50,390	$	906
Impaired loans with an allowance recorded:
Multi-family	$	—	$	—	$	—	$	—	$	—
Commercial real estate		—		—		—		—		—
One-to-four family		—		—		—		—		—
Acquisition, development, and construction		—		—		—		—		—
Other		15,000		15,000		709		15,000		75
Total impaired loans with an allowance recorded	$	15,000	$	15,000	$	709	$	15,000	$	75
Total impaired loans:
Multi-family	$	4,070	$	7,075	$	—	$	4,145	$	57
Commercial real estate		2,256		7,370		—		2,256		—
One-to-four family		1,012		1,066		—		1,017		6
Acquisition, development, and construction		6,535		7,435		—		7,415		144
Other		49,739		114,775		709		50,057		774
Total impaired loans	$	63,612	$	137,721	$	709	$	65,390	$	981

The following table presents additional information about the Company’s impaired loans at December 31, 2018:

(in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
Impaired loans with no related allowance:
Multi-family	$	4,220	$	7,168	$	—	$	6,114	$	340
Commercial real estate		2,256		7,371		—		3,234		—
One-to-four family		1,022		1,076		—		1,576		26
Acquisition, development, and construction		8,296		9,197		—		9,238		590
Other		36,375		101,701		—		42,984		3,057
Total impaired loans with no related allowance	$	52,169	$	126,513	$	—	$	63,146	$	4,013
Impaired loans with an allowance recorded:
Multi-family	$	—	$	—	$	—	$	—	$	—
Commercial real estate		—		—		—		—		—
One-to-four family		—		—		—		—		—
Acquisition, development, and construction		—		—		—		—		—
Other		—		—		—		20		—
Total impaired loans with an allowance recorded	$	—	$	—	$	—	$	20	$	—
Total impaired loans:
Multi-family	$	4,220	$	7,168	$	—	$	6,114	$	340
Commercial real estate		2,256		7,371		—		3,234		—
One-to-four family		1,022		1,076		—		1,576		26
Acquisition, development, and construction		8,296		9,197		—		9,238		590
Other		36,375		101,701		—		43,004		3,057
Total impaired loans	$	52,169	$	126,513	$	—	$	63,166	$	4,013

Non-Covered Loans

Activity in Allowance for Loan Losses

The following table summarizes activity in the allowance for loan losses for the periods indicated:

	For the Three Months Ended March 31,
	2019									2018
(in thousands)	Mortgage			Other			Total			Mortgage			Other			Total
Balance, beginning of period	$	130,983		$	28,837		$	159,820		$	128,275		$	29,771		$	158,046
Charge-offs		—			(2,079	)		(2,079	)		(5,411	)		(1,580	)		(6,991	)
Recoveries		7			110			117			110			404			514
(Recovery of) provision for loan losses		(2,224	)		1,002			(1,222	)		6,161			3,410			9,571
Balance, end of period	$	128,766		$	27,870		$	156,636		$	129,135		$	32,005		$	161,140