Loans Receivable (excluding Covered Loans)



	March 31, 2012				September 30, 2011
	(In thousands)
Non-acquired loans
Single-family residential	$	5,971,540	74.4	%	$	6,218,878	74.7	%
Construction - speculative	128,719		1.6		140,459		1.9
Construction - custom	235,566		2.9		279,851		2.9
Land - acquisition & development	151,967		1.9		200,692		3.5
Land - consumer lot loans	149,967		1.9		163,146		2.1
Multi-family	686,467		8.5		700,673		7.9
Commercial real estate	293,234		3.7		303,442		3.6
Commercial & industrial	94,919		1.2		109,332		1.0
HELOC	113,368		1.4		115,092		1.3
Consumer	71,081		0.9		67,509		1.1
Total non-acquired loans	7,896,828		98.4		8,299,074		100
Credit-impaired acquired loans
Single-family residential	2,093		—		—		—
Construction - speculative	139		—		—		—
Construction - custom	—		—		—		—
Land - acquisition & development	4,490		0.1		—		—
Land - consumer lot loans	—		—		—		—
Multi-family	1,229		—		—		—
Commercial real estate	101,254		1.2		—		—
Commercial & industrial	7,765		0.1		—		—
HELOC	17,215		0.2		—		—
Consumer	125		—		—		—
Total credit-impaired acquired loans	134,310		1.6		—		—
Total loans
Single-family residential	5,973,633		74.4		6,218,878		74.7
Construction - speculative	128,858		1.6		140,459		1.9
Construction - custom	235,566		2.9		279,851		2.9
Land - acquisition & development	156,457		2.0		200,692		3.5
Land - consumer lot loans	149,967		1.9		163,146		2.1
Multi-family	687,696		8.5		700,673		7.9
Commercial real estate	394,488		4.9		303,442		3.6
Commercial & industrial	102,684		1.3		109,332		1.0
HELOC	130,583		1.6		115,092		1.3
Consumer	71,206		0.9		67,509		1.1
Total loans	8,031,138		100	%	8,299,074		100	%
Less:
Allowance for probable losses	143,819				157,160
Loans in process	133,379				170,229
Discount on acquired loans	43,687				—
Deferred net origination fees	34,236				35,808
	355,121				363,197
	$	7,676,017			$	7,935,877

The following table presents the changes in the accretable yield for credit impaired acquired loans as of March 31, 2012:



	Credit impaired acquired loans
	Accretable Yield			Carrying Amount of Loans
	(In thousands)
Balance as of October 1, 2011	$	—		$	—
Additions	21,606			92,981
Accretion	(1,790		)	1,790
Transfers to REO	—			—
Payments received, net	—			(4,148		)
Balance as of March 31, 2012	$	19,816		$	90,623

The following table sets forth information regarding non-accrual loans held by the Company as of the dates indicated:



	March 31, 2012				September 30, 2011
	(In thousands)
Non-accrual loans:
Single-family residential	$	116,284	70.0	%	$	126,624	60.3	%
Construction - speculative	8,190		4.9		15,383		7.3
Construction - custom	539		0.3		635		0.3
Land - acquisition & development	25,036		15.1		37,339		17.7
Land - consumer lot loans	5,641		3.4		8,843		4.2
Multi-family	4,530		2.7		7,664		3.6
Commercial real estate	4,997		3.0		11,380		5.4
Commercial & industrial	1		—		1,679		0.8
HELOC	591		0.4		481		0.2
Consumer	344		0.2		437		0.2
Total non-accrual loans	$	166,153	100	%	$	210,465	100	%

The following tables provide an analysis of the age of loans in past due status as of March 31, 2012 and September 30, 2011, respectively.



March 31, 2012	Amount of Loans		Days Delinquent Based on $ Amount of Loans										% based on $
Type of Loan	Net of LIP & Chg.-Offs		Current		30		60		90		Total		% based on $
	(In thousands)
Non-acquired loans
Single-Family Residential	$	5,969,973	$	5,784,832	$	45,826	$	28,841	$	110,474	$	185,141	3.10	%
Construction - Speculative	102,654		97,455		—		1,635		3,564		5,199		5.06
Construction - Custom	145,406		144,845		—		22		539		561		0.39
Land - Acquisition & Development	146,228		125,100		—		5,452		15,676		21,128		14.45
Land - Consumer Lot Loans	149,966		142,155		966		1,204		5,641		7,811		5.21
Multi-Family	677,730		672,517		—		683		4,530		5,213		0.77
Commercial Real Estate	292,143		286,778		672		1,950		2,743		5,365		1.84
Commercial & Industrial	94,901		94,895		5		—		1		6		0.01
HELOC	113,368		112,657		60		60		591		711		0.63
Consumer	71,080		68,993		1,196		547		344		2,087		2.94
Total non-acquired loans	7,763,449		7,530,227		48,725		40,394		144,103		233,222		3.00

Credit-impaired acquired loans
Single-Family Residential	2,093		1,755		338		—		—		338		16.15
Construction - Speculative	139		139		—		—		—		—		—
Construction - Custom	—		—		—		—		—		—		—
Land - Acquisition & Development	4,490		3,937		—		—		553		553		12.32
Land - Consumer Lot Loans	—		—		—		—		—		—		—
Multi-Family	1,229		1,090		139		—		—		139		11.31
Commercial Real Estate	101,254		87,036		4,285		3,375		6,558		14,218		14.04
Commercial & Industrial	7,765		6,907		488		55		315		858		11.05
HELOC	17,215		15,331		—		1,084		800		1,884		10.94
Consumer	125		89		36		—		—		36		28.80
Total credit-impaired acquired loans	134,310		116,284		5,286		4,514		8,226		18,026		13.42

Total loans	$	7,897,759	$	7,646,511	$	54,011	$	44,908	$	152,329	$	251,248	3.18



September 30, 2011	Amount of Loans		Days Delinquent Based on $ Amount of Loans										% based on $
Type of Loan	Net of LIP & Chg.-Offs		Current		30		60		90		Total		% based on $
	(In thousands)
Single-Family Residential	$	6,217,670	$	6,015,464	$	54,140	$	21,985	$	126,082	$	202,207	3.25	%
Construction - Speculative	115,409		106,843		330		—		8,236		8,566		7.42
Construction - Custom	147,764		147,129		—		—		635		635		0.43
Land - Acquisition & Development	193,613		159,357		679		—		33,577		34,256		17.69
Land - Consumer Lot Loans	163,146		151,849		1,163		1,291		8,843		11,297		6.92
Multi-Family	699,340		690,765		—		1,202		7,373		8,575		1.23
Commercial Real Estate	300,307		292,015		1,016		—		7,276		8,292		2.76
Commercial & Industrial	108,995		106,708		55		553		1,679		2,287		2.10
HELOC	115,092		114,059		452		100		481		1,033		0.90
Consumer	67,509		65,434		1,191		446		437		2,074		3.07
	$	8,128,845	$	7,849,623	$	59,026	$	25,577	$	194,619	$	279,222	3.43

Recently, most loans restructured in troubled debt restructurings ("TDRs") are accruing and performing loans where the borrower has proactively approached the Company about modification due to temporary financial difficulties. Each request is individually evaluated for merit and likelihood of success. The concession for these loans is typically a payment reduction through a rate reduction of between 100 to 200 basis points for a specific term, usually six to twelve 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, 2012, single-family residential loans comprised 82.6% 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.

The following tables provide information related to loans that were restructured during the periods indicated:



	Quarter Ended March 31,
	2012					2011
		Pre-Modification		Post-Modification			Pre-Modification		Post-Modification
		Outstanding		Outstanding			Outstanding		Outstanding
	Number of	Recorded		Recorded		Number of	Recorded		Recorded
	Contracts	Investment		Investment		Contracts	Investment		Investment
		(In thousands)					(In thousands)
Troubled Debt Restructurings:
Single-Family Residential	312	$	68,460	$	68,460	26	$	7,019	$	7,019
Construction - Speculative	12	4,049		4,049		—	—		—
Construction - Custom	—	—		—		—	—		—
Land - Acquisition & Development	4	1,823		1,823		—	—		—
Land - Consumer Lot Loans	14	2,116		2,116		3	498		498
Multi-Family	2	1,871		1,871		2	951		951
Commercial Real Estate	—	—		—		—	—		—
Commercial & Industrial	—	—		—		—	—		—
HELOC	—	—		—		—	—		—
Consumer	—	—		—		—	—		—
	344	$	78,319	$	78,319	31	$	8,468	$	8,468



	Six Months Ended March 31,
	2012					2011
		Pre-Modification		Post-Modification			Pre-Modification		Post-Modification
		Outstanding		Outstanding			Outstanding		Outstanding
	Number of	Recorded		Recorded		Number of	Recorded		Recorded
	Contracts	Investment		Investment		Contracts	Investment		Investment
		(In thousands)					(In thousands)
Troubled Debt Restructurings:
Single-Family Residential	491	$	121,145	$	121,145	165	$	46,488	$	46,488
Construction - Speculative	23	7,428		7,428		—	—		—
Construction - Custom	—	—		—		—	—		—
Land - Acquisition & Development	26	6,173		6,173		—	—		—
Land - Consumer Lot Loans	25	3,824		3,824		13	2,636		2,636
Multi-Family	2	1,871		1,871		6	8,182		8,182
Commercial Real Estate	1	308		308		—	—		—
Commercial & Industrial	1	4		4		—	—		—
HELOC	—	—		—		—	—		—
Consumer	—	—		—		—	—		—
	569	$	140,753	$	140,753	184	$	57,306	$	57,306

The following tables provide information on restructured loans for which a payment default occurred during the periods indicated and that had been modified as a TDR within 12 months or less of the payment default:



	Quarter Ended March 31,
	2012			2011
	Number of	Recorded		Number of	Recorded
	Contracts	Investment		Contracts	Investment
		(In thousands)			(In thousands)
Troubled Debt Restructurings That Subsequently Defaulted:
Single-Family Residential	108	$	20,419	47	$	11,801
Construction - Speculative	—	—		—	—
Construction - Custom	—	—		—	—
Land - Acquisition & Development	—	—		—	—
Land - Consumer Lot Loans	5	865		3	710
Multi-Family	—	—		2	6,613
Commercial Real Estate	—	—		1	222
Commercial & Industrial	—	—		—	—
HELOC	—	—		—	—
Consumer	—	—		—	—
	113	$	21,284	53	$	19,346



	Six Months Ended March 31,
	2012			2011
	Number of	Recorded		Number of	Recorded
	Contracts	Investment		Contracts	Investment
		(In thousands)			(In thousands)
Troubled Debt Restructurings That Subsequently Defaulted:
Single-Family Residential	125	$	24,783	87	$	19,763
Construction - Speculative	—	—		—	—
Construction - Custom	—	—		—	—
Land - Acquisition & Development	—	—		1	4,505
Land - Consumer Lot Loans	7	1,312		4	831
Multi-Family	—	—		2	6,613
Commercial Real Estate	—	—		1	222
Commercial & Industrial	—	—		—	—
HELOC	—	—		—	—
Consumer	—	—		—	—
	132	$	26,095	95	$	31,934