Loans Receivable (excluding Covered Loans)



	March 31, 2013				September 30, 2012
	(In thousands)
Non-acquired loans
Single-family residential	$	5,374,977	68.6	%	$	5,778,922	73.5	%
Construction - speculative	120,617		1.5		129,637		1.6
Construction - custom	217,036		2.8		211,690		2.7
Land - acquisition & development	93,496		1.2		124,677		1.6
Land - consumer lot loans	130,056		1.7		141,844		1.8
Multi-family	725,322		9.3		710,140		9.0
Commercial real estate	385,587		4.9		319,210		4.1
Commercial & industrial	190,598		2.4		162,823		2.1
HELOC	111,622		1.4		112,902		1.4
Consumer	53,956		0.7		63,374		0.8
Total non-acquired loans	7,403,267		94.5		7,755,219		98.6
Acquired loans
Single-family residential	15,428		0.2		—		—
Construction - speculative	177		—		—		—
Construction - custom	313		—		—		—
Land - acquisition & development	3,436		—		—		—
Land - consumer lot loans	3,819		0.1		—		—
Multi-family	7,714		0.2		—		—
Commercial real estate	177,101		2.1		—		—
Commercial & industrial	96,255		1.3		—		—
HELOC	13,094		0.2		—		—
Consumer	10,046		0.1		—		—
Total acquired loans	327,383		4.2		—		—
Credit-impaired acquired loans
Single-family residential	338		—		342		—
Construction - speculative	1,750		—		1,889		0.1
Land - acquisition & development	2,577		—		3,702		—
Multi-family	—		—		601		—
Commercial real estate	79,868		1.1		87,154		1.1
Commercial & industrial	2,091		—		3,292		—
HELOC	12,757		0.2		14,040		0.2
Consumer	81		—		97		—
Total credit-impaired acquired loans	99,462		1.3		111,117		1.4
Total loans
Single-family residential	5,390,743		68.8		5,779,264		73.5
Construction - speculative	122,544		1.5		131,526		1.7
Construction - custom	217,349		2.8		211,690		2.7
Land - acquisition & development	99,509		1.2		128,379		1.6
Land - consumer lot loans	133,875		1.8		141,844		1.8
Multi-family	733,036		9.5		710,741		9
Commercial real estate	642,556		8.1		406,364		5.2
Commercial & industrial	288,944		3.7		166,115		2.1



HELOC	137,473		1.8		126,942		1.6
Consumer	64,083		0.8		63,471		0.8
Total loans	7,830,112		100	%	7,866,336		100	%
Less:
Allowance for probable losses	122,884				133,147
Loans in process	189,336				213,286
Discount on acquired loans	40,346				33,484
Deferred net origination fees	33,330				34,421
	385,896				414,338
	$	7,444,216			$	7,451,998

Changes in the carrying amount and accretable yield for acquired impaired and non-impaired loans for the six months ended March 31, 2013 and the fiscal year ended September 30, 2012 were as follows:



March 31, 2013	Credit impaired acquired loans						Acquired Non-impaired
	Accretable Yield			Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans
	(In thousands)
Balance as of beginning of period	$	16,928		$	77,613		$	—		$	—
Reclassification from nonaccretable balance, net	30,026
Additions (1)	—			—			10,804			360,719
Accretion	(4,278		)	4,278			(658		)	658
Transfers to REO	—			(3,120		)	—			(2,681		)
Payments received, net	—			(11,233		)	—			(39,752		)
Balance as of end of period	$	42,676		$	67,538		$	10,146		$	318,944
(1) includes acquired loans which were acquired as part of the South Valley acquisition.



September 30, 2012	Credit impaired acquired loans						Acquired Non-impaired
	Accretable Yield			Carrying Amount of Loans			Accretable Yield		Carrying Amount of Loans
	(In thousands)
Balance as of beginning of period	$	—		$	—		$	—	$	—
Additions (1)	21,384			93,691			—		—
Accretion	(4,456		)	4,456			—		—
Transfers to REO	—			(2,616		)	—		—
Payments received, net	—			(17,918		)	—		—
Balance as of end of period	$	16,928		$	77,613		$	—	$	—
(1) includes acquired impaired loans which were acquired as part of the WNB acquisition.

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



	March 31, 2013				September 30, 2012
	(In thousands)
Non-accrual loans:
Single-family residential	$	111,572	74.8	%	$	131,193	75.7	%
Construction - speculative	7,943		5.3		10,634		6.1
Construction - custom	105		0.1		539		0.3
Land - acquisition & development	12,177		8.2		13,477		7.8
Land - consumer lot loans	3,385		2.3		5,149		3.0
Multi-family	2,802		1.9		4,185		2.4
Commercial real estate	10,395		7.0		7,653		4.4
Commercial & industrial	210		0.1		16		—
HELOC	247		0.2		198		0.1
Consumer	197		0.1		383		0.2
Total non-accrual loans	$	149,033	100	%	$	173,427	100	%

The following tables provide an analysis of the age of loans in past due status as of March 31, 2013 and September 30, 2012, respectively.



March 31, 2013	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	$	5,371,033	$	5,215,549	$	36,476	$	25,148		$	93,860	$	155,484	2.89	%
Construction - Speculative	81,265		72,899		1,373		1,911			5,082		8,366		10.29
Construction - Custom	120,793		120,575		32		147			39		218		0.18
Land - Acquisition & Development	88,357		75,892		557		231			11,677		12,465		14.11
Land - Consumer Lot Loans	129,887		125,094		724		45			4,024		4,793		3.69
Multi-Family	697,943		686,954		3,102		130			7,757		10,989		1.57
Commercial Real Estate	360,607		341,041		5,154		2,858			11,554		19,566		5.43
Commercial & Industrial	198,488		192,479		4,386		636			987		6,009		3.03
HELOC	111,622		111,322		128		(227		)	399		300		0.27
Consumer	53,955		51,908		1,289		423			335		2,047		3.79
Total non-acquired loans	7,213,950		6,993,713		53,221		31,302			135,714		220,237		3.05	%

Acquired loans
Single-Family Residential	15,428		15,312		$	116	—			—		116		0.75	%
Construction - Speculative	177		177		—		—			—		—		—
Construction - Custom	313		313		—		—			—		—		—
Land - Acquisition & Development	3,436		3,436		—		—			—		—		—
Land - Consumer Lot Loans	3,819		3,767		52		—			—		52		1.36
Multi-Family	7,714		7,714		—		—			—		—		—
Commercial Real Estate	177,101		176,444		657		—			—		657		0.37
Commercial & Industrial	96,255		95,258		997		—			—		997		1.04
HELOC	13,094		13,094		—		—			—		—		—
Consumer	10,046		9,946		77		5			18		100		1.00
Total acquired loans	327,383		325,461		1,899		5			18		1,922		0.59	%

Credit-impaired acquired loans
Single-Family Residential	338		338		—		—			—		—		—	%
Construction - Speculative	1,749		1,749		—		—			—		—		—
Construction - Custom	—		—		—		—			—		—		—
Land - Acquisition & Development	2,577		2,577		—		—			—		—		—
Land - Consumer Lot Loans	—		—		—		—			—		—		—
Multi-Family	—		—		—		—			—		—		—
Commercial Real Estate	79,850		75,772		1,660		292			2,126		4,078		5.11
Commercial & Industrial	2,091		2,070		21		—			—		21		1.00



HELOC	12,757		12,440		—		227		90		317		2.48
Consumer	81		81		—		—		—		—		—
Total credit-impaired acquired loans	99,443		95,027		1,681		519		2,216		4,416		4.44	%

Total loans	$	7,640,776	$	7,414,201	$	56,801	$	31,826	$	137,948	$	226,575	2.97	%



September 30, 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)
Single-Family Residential	$	5,776,002	$	5,618,261	$	34,035	$	16,276	$	107,430	$	157,741	2.73	%
Construction - Speculative	88,849		85,785		142		190		2,732		3,064		3.45
Construction - Custom	107,882		107,215		128		—		539		667		0.62
Land - Acquisition & Development	119,192		106,321		853		1,004		11,014		12,871		10.80
Land - Consumer Lot Loans	141,772		134,560		1,688		375		5,149		7,212		5.09
Multi-Family	676,917		672,263		718		67		3,869		4,654		0.69
Commercial Real Estate	292,261		284,427		699		3,153		3,982		7,834		2.68
Commercial & Industrial	162,802		162,778		8		—		16		24		0.01
HELOC	112,902		112,482		158		64		198		420		0.37
Consumer	63,374		61,405		1,155		431		383		1,969		3.11
Total non-acquired loans	$	7,541,953	$	7,345,497	$	39,584	$	21,560	$	135,312	$	196,456	2.60	%

Credit-impaired acquired loans
Single-Family Residential	342		342		—		—		—		—		—	%
Construction - Speculative	1,889		1,889		—		—		—		—		—
Construction - Custom	—		—		—		—		—		—		—
Land - Acquisition & Development	3,702		3,219		365		—		118		483		13.05
Land - Consumer Lot Loans	—		—		—		—		—		—		—
Multi-Family	601		—		601		—		—		601		—
Commercial Real Estate	87,134		78,959		412		2,549		5,214		8,175		9.38
Commercial & Industrial	3,292		3,054		238		—		—		238		7.23
HELOC	14,040		13,950		—		90		—		90		0.64
Consumer	97		95		2		—		—		2		2.06
Total credit-impaired acquired loans	111,097		101,508		1,618		2,639		5,332		9,589		8.63	%

Total loans	$	7,653,050	$	7,447,005	$	41,202	$	24,199	$	140,644	$	206,045	2.69	%

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, 2013, single-family residential loans comprised 86.4% 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,
	2013					2012
		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	130	$	36,059	$	36,059	312	$	68,460	$	68,460
Construction - Speculative	—	—		—		12	4,049		4,049
Construction - Custom	—	—		—		—	—		—
Land - Acquisition & Development	—	—		—		4	1,823		1,823
Land - Consumer Lot Loans	9	1,350		1,350		14	2,116		2,116
Multi-Family	—	—		—		2	1,871		1,871
Commercial Real Estate	—	—		—		—	—		—
Commercial & Industrial	—	—		—		—	—		—
HELOC	1	200		200		—	—		—
Consumer	—	—		—		—	—		—
	140	$	37,609	$	37,609	344	$	78,319	$	78,319



	Six Months Ended March 31,
	2013					2012
		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	230	$	63,146	$	63,146	491	$	121,145	$	121,145
Construction - Speculative	1	2,492		2,492		23	7,428		7,428
Construction - Custom	—	—		—		—	—		—
Land - Acquisition & Development	—	—		—		26	6,173		6,173
Land - Consumer Lot Loans	18	2,761		2,761		25	3,824		3,824
Multi-Family	1	55		55		2	1,871		1,871
Commercial Real Estate	—	—		—		1	308		308
Commercial & Industrial	—	—		—		1	4		4
HELOC	1	200		200		—	—		—
Consumer	—	—		—		—	—		—
	251	$	68,654	$	68,654	569	$	140,753	$	140,753

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,
	2013			2012
	Number of	Recorded		Number of	Recorded
	Contracts	Investment		Contracts	Investment
	(In thousands)			(In thousands)
Troubled Debt Restructurings That Subsequently Defaulted:
Single-Family Residential	37	$	8,579	108	$	20,419
Construction - Speculative	—	—		—	—
Construction - Custom	—	—		—	—
Land - Acquisition & Development	—	—		—	—
Land - Consumer Lot Loans	1	139		5	865
Multi-Family	1	55		—	—
Commercial Real Estate	—	—		—	—
Commercial & Industrial	—	—		—	—
HELOC	2	113		—	—
Consumer	—	—		—	—
	41	$	8,886	113	$	21,284



	Six Months Ended March 31,
	2013			2012
	Number of	Recorded		Number of	Recorded
	Contracts	Investment		Contracts	Investment
	(In thousands)			(In thousands)
Troubled Debt Restructurings That Subsequently Defaulted:
Single-Family Residential	55	$	13,704	125	$	24,783
Construction - Speculative	—	—		—	—
Construction - Custom	—	—		—	—
Land - Acquisition & Development	—	—		—	—
Land - Consumer Lot Loans	1	139		7	1,312
Multi-Family	1	55		—	—
Commercial Real Estate	1	302		—	—
Commercial & Industrial	—	—		—	—
HELOC	2	113		—	—
Consumer	—	—		—	—
	60	$	14,313	132	$	26,095