XML 49 R21.htm IDEA: XBRL DOCUMENT
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Covered Assets (Tables) | 3 Months Ended
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Dec. 31, 2011
Covered Assets [Abstract] |
Schedule of Changes in Carrying Amount and Accretable Yield of Assets | Changes in the carrying amount and accretable yield for acquired impaired and non-impaired loans were as follows:
December 31, 2011 | Acquired Impaired |  | Acquired Non-impaired
| Accretable Yield |  | Carrying Amount of Loans |  | Accretable Yield |  | Carrying Amount of Loans
| (In thousands)
Balance at beginning of period | $ | 37,072 |  |  | $ | 116,061 |  |  | $ | 30,370 |  |  | $ | 269,888 |
Accretion | (5,351 | ) |  | 5,351 |  |  | (2,684 | ) |  | 2,684 |
Transfers to REO |  |  |  | (5,472 | ) |  | — |  |  |  |
Payments received, net |  |  |  | (15,845 | ) |  | — |  |  | (25,198 | )
Balance at end of period | $ | 31,721 |  |  | $ | 100,095 |  |  | $ | 27,686 |  |  | $ | 247,374 |
Schedule of Activity for FDIC Indemnification Asset | The following table shows the year to date activity for the FDIC indemnification asset:
| December 31, 2011 |  | September 30, 2011
| (In thousands)
Balance at beginning of period | $ | 101,634 |  |  | $ | 131,128 |
Additions | 1,356 |  |  | 10,470 |
Payments received | (6,761 | ) |  | (32,828 | )
Amortization | (4,723 | ) |  | (10,239 | )
Accretion | 597 |  |  | 3,103 |
Balance at end of period | $ | 92,103 |  |  | $ | 101,634 |
Summary of Loans Based on Credit Quality Indicators | The following tables provide information on loans based on credit quality indicators (defined in Note A) as of December 31, 2011 and September 30, 2011: Credit Risk Profile by Internally Assigned Grade (excludes covered loans):
December 31, 2011 | Internally Assigned Grade |  | Total
| Pass |  | Special mention |  | Substandard |  | Doubtful |  | Loss |  | Gross Loans
| (In thousands)
Single-family residential | $ | 5,906,370 |  |  | $ | — |  |  | $ | 176,120 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,082,490 |
Construction - speculative | 65,880 |  |  | 7,663 |  |  | 56,577 |  |  | — |  |  | — |  |  | 130,120 |
Construction - custom | 271,227 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 271,227 |
Land - acquisition & development | 41,528 |  |  | 24,028 |  |  | 110,409 |  |  | — |  |  | — |  |  | 175,965 |
Land - consumer lot loans | 154,228 |  |  | 261 |  |  | 385 |  |  | — |  |  | — |  |  | 154,874 |
Multi-family | 653,006 |  |  | 6,193 |  |  | 29,950 |  |  | — |  |  | — |  |  | 689,149 |
Commercial real estate | 377,668 |  |  | 7,276 |  |  | 30,450 |  |  | — |  |  | — |  |  | 415,394 |
Commercial & industrial | 89,705 |  |  | 1,344 |  |  | 2,362 |  |  | — |  |  | 381 |  |  | 93,792 |
HELOC | 132,089 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 132,089 |
Consumer | 62,247 |  |  | 528 |  |  | 468 |  |  | — |  |  | — |  |  | 63,243 |
| $ | 7,753,948 |  |  | $ | 47,293 |  |  | $ | 406,721 |  |  | $ | — |  |  | $ | 381 |  |  | $ | 8,208,343 |
Total grade as a % of total gross loans | 94.5 | % |  | 0.6 | % |  | 4.9 | % |  | — | % |  | — | % |  |
September 30, 2011 | Internally Assigned Grade |  | Total
| Pass |  | Special mention |  | Substandard |  | Doubtful |  | Loss |  | Gross Loans
| (In thousands)
Single-family residential | $ | 6,047,279 |  |  | $ | — |  |  | $ | 171,599 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,218,878 |
Construction - speculative | 56,485 |  |  | 21,035 |  |  | 62,939 |  |  | — |  |  | — |  |  | 140,459 |
Construction - custom | 279,851 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 279,851 |
Land - acquisition & development | 44,888 |  |  | 44,840 |  |  | 110,964 |  |  | — |  |  | — |  |  | 200,692 |
Land - consumer lot loans | 162,670 |  |  | — |  |  | 476 |  |  | — |  |  | — |  |  | 163,146 |
Multi-family | 663,582 |  |  | 4,629 |  |  | 32,462 |  |  | — |  |  | — |  |  | 700,673 |
Commercial real estate | 264,083 |  |  | 4,125 |  |  | 35,234 |  |  | — |  |  | — |  |  | 303,442 |
Commercial & industrial | 104,171 |  |  | 1,128 |  |  | 1,407 |  |  | 2,245 |  |  | 381 |  |  | 109,332 |
HELOC | 115,092 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 115,092 |
Consumer | 66,512 |  |  | 528 |  |  | 469 |  |  | — |  |  | — |  |  | 67,509 |
| $ | 7,804,613 |  |  | $ | 76,285 |  |  | $ | 415,550 |  |  | $ | 2,245 |  |  | $ | 381 |  |  | $ | 8,299,074 |
Total grade as a % of total gross loans | 94.1 | % |  | 0.9 | % |  | 5.0 | % |  | — | % |  | — | % |  |
Credit Risk Profile Based on Payment Activity (excludes covered loans):
December 31, 2011 | Performing Loans |  | Non-Performing Loans
| Amount |  | % of Total Gross Loans |  | Amount |  | % of Total Gross Loans
| (In thousands)
Single-family residential | $ | 5,961,272 |  |  | 98.0 | % |  | $ | 121,218 |  |  | 2.0 | %
Construction - speculative | 121,044 |  |  | 93.0 |  |  | 9,076 |  |  | 7.0 |
Construction - custom | 270,592 |  |  | 99.8 |  |  | 635 |  |  | 0.2 |
Land - acquisition & development | 140,816 |  |  | 80.0 |  |  | 35,149 |  |  | 20.0 |
Land - consumer lot loans | 148,023 |  |  | 95.6 |  |  | 6,851 |  |  | 4.4 |
Multi-family | 682,121 |  |  | 99.0 |  |  | 7,028 |  |  | 1.0 |
Commercial real estate | 410,620 |  |  | 98.9 |  |  | 4,774 |  |  | 1.1 |
Commercial & industrial | 93,784 |  |  | 100.0 |  |  | 8 |  |  | — |
HELOC | 131,478 |  |  | 99.5 |  |  | 611 |  |  | 0.5 |
Consumer | 62,810 |  |  | 99.3 |  |  | 433 |  |  | 0.7 |
| $ | 8,022,560 |  |  | 97.7 |  |  | $ | 185,783 |  |  | 2.3 |
September 30, 2011 | Performing Loans |  | Non-Performing Loans
| Amount |  | % of Total Gross Loans |  | Amount |  | % of Total Gross Loans
| (In thousands)
Single-family residential | $ | 6,092,254 |  |  | 98.0 | % |  | $ | 126,624 |  |  | 2.0 | %
Construction - speculative | 125,076 |  |  | 89.0 |  |  | 15,383 |  |  | 11.0 |
Construction - custom | 279,216 |  |  | 99.8 |  |  | 635 |  |  | 0.2 |
Land - acquisition & development | 163,353 |  |  | 81.4 |  |  | 37,339 |  |  | 18.6 |
Land - consumer lot loans | 154,303 |  |  | 94.6 |  |  | 8,843 |  |  | 5.4 |
Multi-family | 693,009 |  |  | 98.9 |  |  | 7,664 |  |  | 1.1 |
Commercial real estate | 292,062 |  |  | 96.2 |  |  | 11,380 |  |  | 3.8 |
Commercial & industrial | 107,653 |  |  | 98.5 |  |  | 1,679 |  |  | 1.5 |
HELOC | 114,611 |  |  | 99.6 |  |  | 481 |  |  | 0.4 |
Consumer | 67,072 |  |  | 99.4 |  |  | 437 |  |  | 0.6 |
| $ | 8,088,609 |  |  | 97.5 | % |  | $ | 210,465 |  |  | 2.5 | %
The following tables provide information on covered loans based on credit quality indicators (defined in Note A) as of December 31, 2011 and September 30, 2011: Credit Risk Profile by Internally Assigned Grade:
December 31, 2011 | Internally Assigned Grade |  | Total Net Loans
| Pass |  | Special mention |  | Substandard |  | Doubtful |  | Loss |
| (In thousands)
Purchased non-credit impaired loans: |  |  |  |  |  |  |  |  |  |  |
Single-family residential | $ | 42,610 |  |  | $ | — |  |  | $ | 586 |  |  | $ | — |  |  | $ | — |  |  | $ | 43,196 |
Construction - speculative | 725 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 725 |
Construction - custom | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Land - acquisition & development | 8,050 |  |  | 5,402 |  |  | 1,177 |  |  | — |  |  | — |  |  | 14,629 |
Land - consumer lot loans | 523 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 523 |
Multi-family | 30,317 |  |  | 313 |  |  | 2,454 |  |  | — |  |  | — |  |  | 33,084 |
Commercial real estate | 104,144 |  |  | 1,139 |  |  | 29,719 |  |  | — |  |  | — |  |  | 135,002 |
Commercial & industrial | 8,347 |  |  | 4,601 |  |  | 3,948 |  |  | 444 |  |  | — |  |  | 17,340 |
HELOC | 21,595 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 21,595 |
Consumer | 1,061 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,061 |
| 217,372 |  |  | 11,455 |  |  | 37,884 |  |  | 444 |  |  | — |  |  | 267,155 |
Total grade as a % of total net loans | 81.4 | % |  | 4.3 | % |  | 14.2 | % |  | 0.2 | % |  | — | % |  |
Purchased credit impaired loans: |  |  |  |  |  |  |  |
Pool 1 - Construction and land A&D | 9,989 |  |  | 2,723 |  |  | 50,717 |  |  | — |  |  | — |  |  | 63,429 |
Pool 2 - Single-family residential | 3,579 |  |  | — |  |  | 4,025 |  |  | — |  |  | — |  |  | 7,604 |
Pool 3 - Multi-family | — |  |  | 3,066 |  |  | 234 |  |  | — |  |  | — |  |  | 3,300 |
Pool 4 - HELOC & other consumer | 2,603 |  |  | — |  |  | 4,415 |  |  | — |  |  | — |  |  | 7,018 |
Pool 5 - Commercial real estate | 415 |  |  | 30,416 |  |  | 47,723 |  |  | — |  |  | — |  |  | 78,554 |
Pool 6 - Commercial & industrial | 2,866 |  |  | 2,590 |  |  | 21,268 |  |  | 560 |  |  | 47 |  |  | 27,331 |
| $ | 19,452 |  |  | $ | 38,795 |  |  | $ | 128,382 |  |  | $ | 560 |  |  | $ | 47 |  |  | 187,236 |
|  |  |  |  |  |  |  |  | Total covered loans |  | 454,391 |
|  |  |  |  |  |  |  |  | Discount |  | (103,156 | )
|  |  |  |  |  |  |  |  | Allowance |  | (3,766 | )
|  |  |  |  |  |  |  |  | Covered loans, net |  | $ | 347,469 |
September 30, 2011 | Internally Assigned Grade |  | Total Net Loans
| Pass |  | Special mention |  | Substandard |  | Doubtful |  | Loss |
| (In thousands)
Purchased non-credit impaired loans: |  |  |  |  |  |  |  |  |  |  |
Single-family residential | $ | 45,619 |  |  | $ | — |  |  | $ | 595 |  |  | $ | — |  |  | $ | — |  |  | $ | 46,214 |
Construction - speculative | 1,315 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,315 |
Construction - custom | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Land - acquisition & development | 8,383 |  |  | 6,315 |  |  | 360 |  |  | — |  |  | — |  |  | 15,058 |
Land - consumer lot loans | 543 |  |  | — |  |  | 111 |  |  | — |  |  | — |  |  | 654 |
Multi-family | 32,448 |  |  | — |  |  | 2,458 |  |  | — |  |  | — |  |  | 34,906 |
Commercial real estate | 118,124 |  |  | 1,361 |  |  | 28,979 |  |  | — |  |  | — |  |  | 148,464 |
Commercial & industrial | 13,717 |  |  | 4,481 |  |  | 4,239 |  |  | 444 |  |  | — |  |  | 22,881 |
HELOC | 21,730 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 21,730 |
Consumer | 1,199 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,199 |
| 243,078 |  |  | 12,157 |  |  | 36,742 |  |  | 444 |  |  | — |  |  | 292,421 |
Total grade as a % of total net loans | 83.1 | % |  | 4.2 | % |  | 12.6 | % |  | 0.2 | % |  | — | % |  |
Purchased credit impaired loans: |  |  |  |  |  |  |  |
Pool 1 - Construction and land A&D | 9,982 |  |  | 2,980 |  |  | 54,682 |  |  | — |  |  | — |  |  | 67,644 |
Pool 2 - Single-family residential | 3,667 |  |  | — |  |  | 8,263 |  |  | — |  |  | — |  |  | 11,930 |
Pool 3 - Multi-family | — |  |  | — |  |  | 3,324 |  |  | — |  |  | — |  |  | 3,324 |
Pool 4 - HELOC & other consumer | 3,544 |  |  | — |  |  | 5,411 |  |  | — |  |  | — |  |  | 8,955 |
Pool 5 - Commercial real estate | 418 |  |  | 30,579 |  |  | 48,069 |  |  | — |  |  | — |  |  | 79,066 |
Pool 6 - Commercial & industrial | 2,859 |  |  | 2,725 |  |  | 25,662 |  |  | 772 |  |  | — |  |  | 32,018 |
| $ | 20,470 |  |  | $ | 36,284 |  |  | $ | 145,411 |  |  | $ | 772 |  |  | $ | — |  |  | 202,937 |
|  |  |  |  |  |  |  |  | Total covered loans |  | 495,358 |
|  |  |  |  |  |  |  |  | Discount |  | (109,409 | )
|  |  |  |  |  |  |  |  | Allowance |  | (3,766 | )
|  |  |  |  |  |  |  |  | Covered loans, net |  | $ | 382,183 |
Analysis of Age of Purchased Non-Credit Impaired Loans In Past Due Status | The following tables provide an analysis of the age of purchased non-credit impaired loans in past due status for the periods ended December 31, 2011 and September 30, 2011:
December 31, 2011 | Amount of Loans Net of LIP & Chg.-Offs |  | Days Delinquent Based on $ Amount of Loans |  | % based on $
Type of Loans | Current |  | 30 |  | 60 |  | 90 |  | Total |
Single-Family Residential | $ | 43,196 |  |  | $ | 40,188 |  |  | $ | 934 |  |  | $ | — |  |  | $ | 2,074 |  |  | $ | 3,008 |  |  | 6.96 | %
Construction - Speculative | 725 |  |  | 725 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | NM |
Construction - Custom | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | NM |
Land - Acquisition & Development | 14,629 |  |  | 13,002 |  |  | 399 |  |  | — |  |  | 1,228 |  |  | 1,627 |  |  | 11.12 |
Land - Consumer Lot Loans | 523 |  |  | 507 |  |  | 16 |  |  | — |  |  | — |  |  | 16 |  |  | 3.06 |
Multi-Family | 33,084 |  |  | 31,576 |  |  | — |  |  | — |  |  | 1,508 |  |  | 1,508 |  |  | 4.56 |
Commercial Real Estate | 135,002 |  |  | 131,871 |  |  | 205 |  |  | 1,680 |  |  | 1,246 |  |  | 3,131 |  |  | 2.32 |
Commercial & Industrial | 17,340 |  |  | 12,671 |  |  | 3,723 |  |  | 207 |  |  | 739 |  |  | 4,669 |  |  | 26.93 |
HELOC | 21,595 |  |  | 20,200 |  |  | 948 |  |  | 150 |  |  | 297 |  |  | 1,395 |  |  | 6.46 |
Consumer | 1,061 |  |  | 1,007 |  |  | 49 |  |  | 4 |  |  | 1 |  |  | 54 |  |  | 5.09 |
| $ | 267,155 |  |  | $ | 251,747 |  |  | $ | 6,274 |  |  | $ | 2,041 |  |  | $ | 7,093 |  |  | $ | 15,408 |  |  | 5.77 | %
September 30, 2011 | Amount of Loans Net of LIP & Chg.-Offs |  | Days Delinquent Based on $ Amount of Loans |  | % based on $
Type of Loans | Current |  | 30 |  | 60 |  | 90 |  | Total |
Single-Family Residential | $ | 46,214 |  |  | $ | 43,445 |  |  | $ | 1,034 |  |  | $ | 30 |  |  | $ | 1,705 |  |  | $ | 2,769 |  |  | 5.99 | %
Construction - Speculative | 1,315 |  |  | 1,315 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | NM |
Construction - Custom | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | NM |
Land - Acquisition & Development | 15,058 |  |  | 13,344 |  |  | 487 |  |  | — |  |  | 1,227 |  |  | 1,714 |  |  | 11.38 |
Land - Consumer Lot Loans | 654 |  |  | 527 |  |  | 16 |  |  | — |  |  | 111 |  |  | 127 |  |  | 19.42 |
Multi-Family | 34,906 |  |  | 33,398 |  |  | — |  |  | — |  |  | 1,508 |  |  | 1,508 |  |  | 4.32 |
Commercial Real Estate | 148,464 |  |  | 142,060 |  |  | 1,527 |  |  | — |  |  | 4,877 |  |  | 6,404 |  |  | 4.31 |
Commercial & Industrial | 22,881 |  |  | 18,049 |  |  | 3,606 |  |  | 703 |  |  | 523 |  |  | 4,832 |  |  | 21.12 |
HELOC | 21,730 |  |  | 20,339 |  |  | 731 |  |  | 391 |  |  | 269 |  |  | 1,391 |  |  | 6.40 |
Consumer | 1,199 |  |  | 1,123 |  |  | 31 |  |  | 8 |  |  | 37 |  |  | 76 |  |  | 6.34 |
| $ | 292,421 |  |  | $ | 273,600 |  |  | $ | 7,432 |  |  | $ | 1,132 |  |  | $ | 10,257 |  |  | $ | 18,821 |  |  | 6.44 | %
NM - not meaningful

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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6965416&loc=SL6953659-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=6951925&loc=SL6953803-111525 + Details
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- Definition Analysis of Aging of Non-Credit Impaired Loans [Table Text Block] + References No definition available. + Details
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- Details
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- Definition Schedule of Activity for FDIC Indemnification Asset [Table Text Block] + References No definition available. + Details
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- Definition Schedule of Changes in Carrying Amount and Accretable Yield of Assets [Table Text Block] + References No definition available. + Details
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