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Covered Assets (Tables)

12 Months Ended

Sep. 30, 2013

Covered Assets [Abstract]

Summary of carrying value of acquired impaired and non-impaired loans

The following table reflects the carrying value of all acquired impaired and non-impaired loans as of September 30, 2013 and 2012:

	September 30, 2013										September 30, 2012
	Acquired Impaired Loans			Acquired Non-impaired Loans			Total				Acquired Impaired Loans			Acquired Non-impaired Loans			Total
	(In thousands)
Single-family residential	$	28,428		$	28,460		$	56,888			$	7,699		$	35,676		$	43,375
Construction – speculative	440			—			440				4,519			90			4,609
Construction – custom	1,197			—			1,197				1,196			—			1,196
Land – acquisition & development	17,953			4,810			22,763				22,747			11,430			34,177
Land – consumer lot loans	496			245			741				497			498			995
Multi-family	6,933			18,852			25,785				4,698			27,645			32,343
Commercial real estate	121,105			89,499			210,604				83,784			121,592			205,376
Commercial & industrial	14,949			9,416			24,365				18,504			13,023			31,527
HELOC	3,869			14,750			18,619				309			17,971			18,280
Consumer	242			604			846				659			918			1,577
Total covered loans	$	195,612		$	166,636		$	362,248			$	144,612		$	228,843		$	373,455
Allowance for losses	—			—			—				—			—			—
	$	195,612		$	166,636		$	362,248			$	144,612		$	228,843		$	373,455
Discount							(66,301		)								(85,079		)
Covered loans, net							$	295,947									$	288,376

Schedule of changes in carrying amount and accretable yield for acquired impaired and non-impaired loans

Changes in the carrying amount and accretable yield for acquired impaired and non-impaired loans were as follows for the fiscal years ended September 30, 2013 and 2012:

	September 30, 2013																September 30, 2012
	Acquired Impaired								Acquired Non-impaired								Acquired Impaired								Acquired Non-impaired
	Accretable Yield				Carrying Amount of Loans				Accretable Yield				Carrying Amount of Loans				Accretable Yield				Carrying Amount of Loans				Accretable Yield				Carrying Amount of Loans
	(In thousands)																(In thousands)
Balance at beginning of period	$	50,902			$	74,953			$	23,789			$	213,423			$	37,072			$	116,061			$	30,370			$	269,888
Additions	43,299				107,946				—				—				—				—				—				—
Reclassification from nonaccretable balance, net	17,850				—				—				—				34,690				—				—				—
Accretion	(33,774		)		33,774				(6,526		)		6,526				(20,860		)		20,860				(6,581		)		6,581
Transfers to REO	—				(11,196		)		—				—				—				(15,905		)		—				—
Payments received, net	—				(67,386		)		—				(62,093		)		—				(46,063		)		—				(63,046		)
Balance at end of period	$	78,277			$	138,091			$	17,263			$	157,856			$	50,902			$	74,953			$	23,789			$	213,423

Schedule of activity for FDIC indemnification asset

The following table shows the year to date activity for the FDIC indemnification asset:

	September 30, 2013				September 30, 2012
	(In thousands)
Balance at beginning of period	$	87,571			$	101,634
Additions	18,101				3,284
Payments received	(13,421		)		(3,456		)
Amortization	(28,722		)		(15,510		)
Accretion	1,086				1,619
Balance at end of period	$	64,615			$	87,571

Summary of loans based on credit quality indicators

The following tables provide information on loans based on credit quality indicators (defined above) as of September 30, 2013 and 2012:

September 30, 2013	Internally Assigned Grade																				Total
	Pass				Special mention				Substandard				Doubtful				Loss				Gross Loans
	(In thousands)
Non-acquired loans
Single-family residential	$	5,184,101			$	4,595			$	170,453			$	—			$	—			$	5,359,149
Construction - speculative	99,436				3,199				28,143				—				—				130,778
Construction - custom	302,722				—				—				—				—				302,722
Land - acquisition & development	64,355				775				12,645				—				—				77,775
Land - consumer lot loans	121,039				—				632				—				—				121,671
Multi-family	819,911				2,114				9,659				—				—				831,684
Commercial real estate	373,012				21,652				20,297				—				—				414,961
Commercial & industrial	240,441				1,049				1,709				—				—				243,199
HELOC	112,186				—				—				—				—				112,186
Consumer	46,720				—				421				—				—				47,141
	$	7,363,923			$	33,384			$	243,959			$	—			$	—			$	7,641,266
Acquired loans
Single-family residential	$	14,468			$	—			$	—			$	—			$	—			$	14,468
Construction - speculative	—				—				—				—				—				—
Construction - custom	—				—				—				—				—				—
Land - acquisition & development	312				—				1,177				—				—				1,489
Land - consumer lot loans	3,313				—				—				—				—				3,313
Multi-family	3,227				—				687				—				—				3,914
Commercial real estate	105,055				4,190				24,178				—				—				133,423
Commercial & industrial	64,933				1,309				9,084				—				—				75,326
HELOC	10,179				—				—				—				—				10,179
Consumer	8,267				—				—				—				—				8,267
	$	209,754			$	5,499			$	35,126			$	—			$	—			$	250,379
Credit impaired acquired loans
Pool 1 - Construction and land A&D	$	980			$	461			$	955			$	—			$	—			$	2,396
Pool 2 - Single-family residential	333				—				—				—				—				333
Pool 3 - Multi-family	—				—				—				—				—				—
Pool 4 - HELOC & other consumer	11,337				—				—				—				—				11,337
Pool 5 - Commercial real estate	52,509				3,155				21,245				—				—				76,909
Pool 6 - Commercial & industrial	881				—				7,044				—				—				7,925
Total credit impaired acquired loans	$	66,040			$	3,616			$	29,244			$	—			$	—			$	98,900
Total gross loans	$	7,639,717			$	42,499			$	308,329			$	—			$	—			$	7,990,545
Total grade as a % of total gross loans	95.6		%		0.5		%		3.9		%		—		%		—		%

September 30, 2012	Internally Assigned Grade																				Total
	Pass				Special mention				Substandard				Doubtful				Loss				Gross Loans
	(In thousands)
Non-acquired loans
Single-family residential	$	5,588,252			$	844			$	189,826			$	—			$	—			$	5,778,922
Construction - speculative	86,126				10,113				33,398				—				—				129,637
Construction - custom	211,690				—				—				—				—				211,690
Land - acquisition & development	73,661				4,637				46,379				—				—				124,677
Land - consumer lot loans	140,006				223				1,615				—				—				141,844
Multi-family	684,649				5,098				20,393				—				—				710,140
Commercial real estate	278,022				16,282				24,906				—				—				319,210
Commercial & industrial	158,421				1,071				3,331				—				—				162,823
HELOC	112,902				—				—				—				—				112,902
Consumer	62,611				354				409				—				—				63,374
	$	7,396,340			$	38,622			$	320,257			$	—			$	—			$	7,755,219
Acquired loans
Single-family residential	$	—			$	—			$	—			$	—			$	—			$	—
Construction - speculative	—				—				—				—				—				—
Construction - custom	—				—				—				—				—				—
Land - acquisition & development	—				—				—				—				—				—
Land - consumer lot loans	—				—				—				—				—				—
Multi-family	—				—				—				—				—				—
Commercial real estate	—				—				—				—				—				—
Commercial & industrial	—				—				—				—				—				—
HELOC	—				—				—				—				—				—
Consumer	—				—				—				—				—				—
	$	—			$	—			$	—			$	—			$	—			$	—
Credit impaired acquired loans
Pool 1 - Construction and land A&D	$	2,466			$	—			$	3,125			$	—			$	—			$	5,591
Pool 2 - Single-family residential	342				—				—				—				—				342
Pool 3 - Multi-family	—				—				601				—				—				601
Pool 4 - HELOC & other consumer	14,137				—				—				—				—				14,137
Pool 5 - Commercial real estate	53,683				4,308				28,200				963				—				87,154
Pool 6 - Commercial & industrial	1,566				58				733				935				—				3,292
Total credit impaired acquired loans	$	72,194			$	4,366			$	32,659			$	1,898			$	—			$	111,117
Total gross loans	$	7,468,534			$	42,988			$	352,916			$	1,898			$	—			$	7,866,336
Total grade as a % of total gross loans	94.9		%		0.6		%		4.5		%		—		%		—		%

The following tables provide information on covered loans based on credit quality indicators (defined in Note A) as of September 30, 2013:

	Internally Assigned Grade																				Total Net  Loans
	Pass				Special mention				Substandard				Doubtful				Loss
	(In thousands)
Purchased non-credit impaired loans:
Single-family residential	$	26,426			$	—			$	2,034			$	—			$	—			$	28,460
Construction - speculative	—				—				—				—				—				—
Construction - custom	—				—				—				—				—				—
Land - acquisition & development	3,069				1,019				722				—				—				4,810
Land - consumer lot loans	245				—				—				—				—				245
Multi-family	17,217				—				1,635				—				—				18,852
Commercial real estate	56,120				9,235				24,144				—				—				89,499
Commercial & industrial	5,175				500				3,741				—				—				9,416
HELOC	14,750				—				—				—				—				14,750
Consumer	604				—				—				—				—				604
	123,606				10,754				32,276				—				—				166,636
Total grade as a % of total net loans	74.2		%		6.4		%		19.4		%		—		%		—		%
Purchased credit impaired loans:
Pool 1 - Construction and land A&D	14,361				4,296				25,363				—				—				44,020
Pool 2 - Single-family residential	21,541				—				—				—				—				21,541
Pool 3 - Multi-family	4,131				—				1,100				—				—				5,231
Pool 4 - HELOC & other consumer	4,111				—				1,880				—				—				5,991
Pool 5 - Commercial real estate	36,494				15,113				53,946				—				—				105,553
Pool 6 - Commercial & industrial	4,265				204				8,807				—				—				13,276
	$	84,903			$	19,613			$	91,096			$	—			$	—			$	195,612
																	Total covered loans				362,248
																	Discount				(66,301		)
																	Allowance				$	—
																	Covered loans, net				$	295,947

Analysis of age of purchased non-credit impaired loans in past due status

The following table provides an analysis of the payment status of purchased non-credit impaired loans in past due status for the period ended September 30, 2013.

	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
	(In thousands)
Single-family residential	$	28,460			$	27,411			$	78			$	—			$	971			$	1,049			3.69	%
Construction - speculative	—				—				—				—				—				—				NM
Construction - custom	—				—				—				—				—				—				NM
Land - acquisition & development	4,810				4,774				—				—				36				36				0.75	%
Land - consumer lot loans	245				199				—				—				46				46				18.78	%
Multi-family	18,852				17,511				—				—				1,341				1,341				7.11	%
Commercial real estate	89,499				84,949				2,779				455				1,316				4,550				5.08	%
Commercial & industrial	9,416				9,416				—				—				—				—				—	%
HELOC	14,750				14,334				103				74				239				416				2.82	%
Consumer	604				601				3				—				—				3				0.50	%
	$	166,636			$	159,195			$	2,963			$	529			$	3,949			$	7,441			4.47	%

X

- 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=28368275&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=32702940&loc=SL6953803-111525

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