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Loans Receivable (excluding Covered Loans) | 12 Months Ended
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Sep. 30, 2014
Receivables [Abstract] |
Loans Receivable (excluding Covered Loans) | Loans Receivable (excluding Covered Loans)
| September 30, 2014 |  | September 30, 2013
| (In thousands) |  | (In thousands)
Non-acquired loans |  |  |  |  |  |  |
Single-family residential | $ | 5,560,203 |  |  | 64.1 | % |  | $ | 5,359,149 |  |  | 67.1 | %
Construction - speculative | 140,060 |  |  | 1.6 |  |  | 130,778 |  |  | 1.6 |
Construction - custom | 385,824 |  |  | 4.5 |  |  | 302,722 |  |  | 3.8 |
Land - acquisition & development | 77,832 |  |  | 0.9 |  |  | 77,775 |  |  | 1.1 |
Land - consumer lot loans | 108,623 |  |  | 1.3 |  |  | 121,671 |  |  | 1.5 |
Multi-family | 917,286 |  |  | 10.6 |  |  | 831,684 |  |  | 10.4 |
Commercial real estate | 591,336 |  |  | 6.9 |  |  | 414,961 |  |  | 5.1 |
Commercial & industrial | 379,226 |  |  | 4.4 |  |  | 243,199 |  |  | 3.0 |
HELOC | 116,042 |  |  | 1.4 |  |  | 112,186 |  |  | 1.4 |
Consumer | 132,590 |  |  | 1.5 |  |  | 47,141 |  |  | 0.6 |
Total non-acquired loans | 8,409,022 |  |  | 97.2 |  |  | 7,641,266 |  |  | 95.6 |
Acquired loans |  |  |  |  |  |  |
Single-family residential | 11,716 |  |  | 0.1 | % |  | 14,468 |  |  | 0.2 | %
Construction - speculative | — |  |  | — |  |  | — |  |  | — |
Construction - custom | — |  |  | — |  |  | — |  |  | — |
Land - acquisition & development | 905 |  |  | — |  |  | 1,489 |  |  | — |
Land - consumer lot loans | 2,507 |  |  | — |  |  | 3,313 |  |  | — |
Multi-family | 2,999 |  |  | — |  |  | 3,914 |  |  | 0.1 |
Commercial real estate | 97,898 |  |  | 1.1 |  |  | 133,423 |  |  | 1.7 |
Commercial & industrial | 54,219 |  |  | 0.6 |  |  | 75,326 |  |  | 0.9 |
HELOC | 8,274 |  |  | 0.1 |  |  | 10,179 |  |  | 0.1 |
Consumer | 5,670 |  |  | 0.1 |  |  | 8,267 |  |  | 0.1 |
Total acquired loans | 184,188 |  |  | 2.0 |  |  | 250,379 |  |  | 3.1 |
Credit-impaired acquired loans |  |  |  |  |  |  |
Single-family residential | 325 |  |  | — |  |  | 333 |  |  | — |
Construction - speculative | — |  |  | — |  |  | — |  |  | — |
Construction - custom | — |  |  | — |  |  | — |  |  | — |
Land - acquisition & development | 1,622 |  |  | — |  |  | 2,396 |  |  | — |
Land - consumer lot loans | — |  |  | — |  |  | — |  |  | — |
Multi-family | — |  |  | — |  |  | — |  |  | — |
Commercial real estate | 63,723 |  |  | 0.7 |  |  | 76,909 |  |  | 1.1 |
Commercial & industrial | 643 |  |  | — |  |  | 7,925 |  |  | 0.1 |
HELOC | 10,139 |  |  | 0.1 |  |  | 11,266 |  |  | 0.1 |
Consumer | 55 |  |  | — |  |  | 71 |  |  | — |
Total credit-impaired acquired loans | 76,507 |  |  | 0.8 |  |  | 98,900 |  |  | 1.3 |
Total loans |  |  |  |  |  |  |
Single-family residential | 5,572,244 |  |  | 64.2 |  |  | 5,373,950 |  |  | 67.3 |
Construction - speculative | 140,060 |  |  | 1.6 |  |  | 130,778 |  |  | 1.6 |
Construction - custom | 385,824 |  |  | 4.5 |  |  | 302,722 |  |  | 3.8 |
Land - acquisition & development | 80,359 |  |  | 0.9 |  |  | 81,660 |  |  | 1.1 |
Land - consumer lot loans | 111,130 |  |  | 1.3 |  |  | 124,984 |  |  | 1.5 |
Multi-family | 920,285 |  |  | 10.6 |  |  | 835,598 |  |  | 10.5 |
Commercial real estate | 752,957 |  |  | 8.7 |  |  | 625,293 |  |  | 7.9 |
Commercial & industrial | 434,088 |  |  | 5.0 |  |  | 326,450 |  |  | 4.0 |
HELOC | 134,455 |  |  | 1.6 |  |  | 133,631 |  |  | 1.6 |
Consumer | 138,315 |  |  | 1.6 |  |  | 55,479 |  |  | 0.7 |
Total loans | 8,669,717 |  |  | 100 | % |  | 7,990,545 |  |  | 100 | %
Less: |  |  |  |  |  |  |
Allowance for probable losses | 112,347 |  |  |  |  | 116,741 |  |  |
Loans in process | 346,172 |  |  |  |  | 275,577 |  |  |
Discount on acquired loans | 25,391 |  |  |  |  | 34,143 |  |  |
Deferred net origination fees | 37,485 |  |  |  |  | 36,054 |  |  |
| 521,395 |  |  |  |  | 462,515 |  |  |
| $ | 8,148,322 |  |  |  |  | $ | 7,528,030 |  |  |
The Company originates fixed and adjustable interest rate loans, which at September 30, 2014 consisted of the following:
Fixed-Rate |  | Adjustable-Rate
Term To Maturity | Book Value |  | Term To Rate Adjustment | Book Value
| (In thousands) |  |  | (In thousands)
Within 1 year | $ | 366,988 |  |  | Less than 1 year | $ | 1,167,059 |
1 to 3 years | 189,917 |  |  | 1 to 3 years | 562,839 |
3 to 5 years | 100,854 |  |  | 3 to 5 years | 713,975 |
5 to 10 years | 127,292 |  |  | 5 to 10 years | 12,884 |
10 to 20 years | 819,570 |  |  | 10 to 20 years | — |
Over 20 years | 4,605,687 |  |  | Over 20 years | 2,652 |
| $ | 6,210,308 |  |  |  | $ | 2,459,409 |
Gross loans by geographic concentration were as follows:
September 30, 2014 | Single - family residential | Multi- family | Land - A & D | Land - lot loans | Construction - custom | Construction - speculative | Commercial real estate | Commercial and industrial | Consumer | HELOC | Total
| (In thousands)
Washington | $ | 2,711,711 |  | $ | 315,584 |  | $ | 46,091 |  | $ | 61,525 |  | $ | 211,474 |  | $ | 68,668 |  | $ | 372,239 |  | $ | 87,312 |  | $ | 16 |  | $ | 73,721 |  | $ | 3,948,341 |
Oregon | 784,794 |  | 278,112 |  | 5,655 |  | 19,738 |  | 53,218 |  | 31,210 |  | 161,401 |  | 31,547 |  | — |  | 15,501 |  | 1,381,176 |
Arizona | 600,306 |  | 182,645 |  | 3,201 |  | 10,040 |  | 42,326 |  | 9,393 |  | 92,817 |  | 1,078 |  | — |  | 19,580 |  | 961,386 |
Other | 206,586 |  | 688 |  | — |  | — |  | — |  | — |  | 19,160 |  | 309,855 |  | 138,299 |  | 30 |  | 674,618 |
Utah | 471,248 |  | 49,755 |  | 5,430 |  | 5,293 |  | 28,107 |  | 5,640 |  | 3,319 |  | 297 |  | — |  | 7,657 |  | 576,746 |
Idaho | 323,320 |  | 25,294 |  | 2,277 |  | 9,479 |  | 16,008 |  | 12,195 |  | 3,656 |  | 769 |  | — |  | 5,008 |  | 398,006 |
New Mexico | 174,102 |  | 53,002 |  | 14,923 |  | 2,946 |  | 21,024 |  | 9,893 |  | 90,288 |  | 3,230 |  | — |  | 12,587 |  | 381,995 |
Texas | 180,950 |  | 12,852 |  | 2,782 |  | 629 |  | 7,941 |  | 3,061 |  | 7,722 |  | — |  | — |  | — |  | 215,937 |
Nevada | 119,227 |  | 2,353 |  | — |  | 1,480 |  | 5,726 |  | — |  | 2,355 |  | — |  | — |  | 371 |  | 131,512 |
| $ | 5,572,244 |  | $ | 920,285 |  | $ | 80,359 |  | $ | 111,130 |  | $ | 385,824 |  | $ | 140,060 |  | $ | 752,957 |  | $ | 434,088 |  | $ | 138,315 |  | $ | 134,455 |  | $ | 8,669,717 |
Percentage by geographic area
September 30, 2014 | Single - family residential | Multi- family | Land - A & D | Land - lot loans | Construction - custom | Construction - speculative | Commercial real estate | Commercial and industrial | Consumer | HELOC | Total
| As % of total gross loans
Washington | 31.6 | % | 3.6 | % | 0.5 | % | 0.7 | % | 2.4 | % | 0.8 | % | 4.3 | % | 1.0 | % | — | % | 0.9 | % | 45.8 | %
Oregon | 9.1 |  | 3.2 |  | 0.1 |  | 0.2 |  | 0.6 |  | 0.4 |  | 1.9 |  | 0.4 |  | — |  | 0.2 |  | 16.1 |
Arizona | 6.9 |  | 2.1 |  | — |  | 0.1 |  | 0.5 |  | 0.1 |  | 1.1 |  | — |  | — |  | 0.2 |  | 11.0 |
Other | 2.4 |  | — |  | — |  | — |  | — |  | — |  | 0.2 |  | 3.6 |  | 1.6 |  | — |  | 7.8 |
Utah | 5.4 |  | 0.6 |  | 0.1 |  | 0.1 |  | 0.3 |  | 0.1 |  | — |  | — |  | — |  | 0.1 |  | 6.7 |
Idaho | 3.7 |  | 0.3 |  | — |  | 0.1 |  | 0.2 |  | 0.1 |  | — |  | — |  | — |  | 0.1 |  | 4.5 |
New Mexico | 2.0 |  | 0.6 |  | 0.2 |  | — |  | 0.2 |  | 0.1 |  | 1.0 |  | — |  | — |  | 0.1 |  | 4.2 |
Texas | 2.1 |  | 0.1 |  | — |  | — |  | 0.1 |  | — |  | 0.1 |  | — |  | — |  | — |  | 2.4 |
Nevada | 1.4 |  | — |  | — |  | — |  | 0.1 |  | — |  | — |  | — |  | — |  | — |  | 1.5 |
| 64.6 | % | 10.5 | % | 0.9 | % | 1.2 | % | 4.4 | % | 1.6 | % | 8.6 | % | 5.0 | % | 1.6 | % | 1.6 | % | 100.0 | %
Percentage by geographic area as a % of each loan type
September 30, 2014 | Single - family residential | Multi- family | Land - A & D | Land - lot loans | Construction - custom | Construction - speculative | Commercial real estate | Commercial and industrial | Consumer | HELOC
As % of total gross loans
Washington | 48.7 | % | 34.3 | % | 57.3 | % | 55.3 | % | 54.8 | % | 49.0 | % | 49.6 | % | 20.1 | % | — | % | 54.8 | %
Oregon | 14.1 |  | 30.2 |  | 7.0 |  | 17.8 |  | 13.8 |  | 22.3 |  | 21.4 |  | 7.3 |  | — |  | 11.5 |
Arizona | 10.8 |  | 19.8 |  | 4.0 |  | 9.0 |  | 11.0 |  | 6.7 |  | 12.3 |  | 0.2 |  | — |  | 14.6 |
Other | 3.7 |  | 0.1 |  | — |  | — |  | — |  | — |  | 2.5 |  | 71.4 |  | 100.0 |  | — |
Utah | 8.5 |  | 5.4 |  | 6.8 |  | 4.8 |  | 7.3 |  | 4.0 |  | 0.4 |  | 0.1 |  | — |  | 5.7 |
Idaho | 5.8 |  | 2.7 |  | 2.8 |  | 8.5 |  | 4.1 |  | 8.7 |  | 0.5 |  | 0.2 |  | — |  | 3.7 |
New Mexico | 3.1 |  | 5.8 |  | 18.6 |  | 2.7 |  | 5.4 |  | 7.1 |  | 12.0 |  | 0.7 |  | — |  | 9.4 |
Texas | 3.2 |  | 1.4 |  | 3.5 |  | 0.6 |  | 2.1 |  | 2.2 |  | 1.0 |  | — |  | — |  | — |
Nevada | 2.1 |  | 0.3 |  | — |  | 1.3 |  | 1.5 |  | — |  | 0.3 |  | — |  | — |  | 0.3 |
| 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | 100.0 | %
The following table provides additional information on impaired loans, loan commitments and loans serviced for others:
| September 30, 2014 |  | September 30, 2013
| (In thousands)
Recorded investment in impaired loans | $ | 435,185 |  |  | $ | 454,557 |
Trouble Debt Restructuring included in impaired loans | 374,743 |  |  | 415,696 |
Impaired loans with allocated reserves | 196 |  |  | 6,035 |
Reserves on impaired loans | 60 |  |  | 3,473 |
Average balance of impaired loans | 403,138 |  |  | 495,472 |
Interest income from impaired loans | 21,674 |  |  | 24,798 |
Outstanding fixed-rate origination commitments | 198,504 |  |  | 190,363 |
Loans serviced for others | 86,745 |  |  | 55,589 |
The following table sets forth information regarding non-accrual loans held by the Company:
| September 30, 2014 |  | September 30, 2013
| (In thousands) |  |  |  | (In thousands) |  |
Non-accrual loans: |  |  |  |  |  |  |
Single-family residential | $ | 74,067 |  |  | 84.8 | % |  | $ | 100,460 |  |  | 76.5 | %
Construction - speculative | 1,477 |  |  | 1.7 |  |  | 4,560 |  |  | 3.5 |
Construction - custom | — |  |  | — |  |  | — |  |  | — |
Land - acquisition & development | 811 |  |  | 0.9 |  |  | 2,903 |  |  | 2.2 |
Land - consumer lot loans | 2,637 |  |  | 3.0 |  |  | 3,337 |  |  | 2.5 |
Multi-family | 1,742 |  |  | 2.0 |  |  | 6,573 |  |  | 5.0 |
Commercial real estate | 5,106 |  |  | 5.8 |  |  | 11,736 |  |  | 8.9 |
Commercial & industrial | 7 |  |  | — |  |  | 477 |  |  | 0.4 |
HELOC | 795 |  |  | 0.9 |  |  | 263 |  |  | 0.2 |
Consumer | 789 |  |  | 0.9 |  |  | 990 |  |  | 0.8 |
Total non-accrual loans | $ | 87,431 |  |  | 100 | % |  | $ | 131,299 |  |  | 100 | %
The following tables provide an analysis of the age of loans in past due status:
September 30, 2014 | 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 |
| (In thousands) |  |
Non-acquired loans |  |  |  |  |  |  |  |  |  |  |  |  |
Single-Family Residential | $ | 5,557,753 |  |  | $ | 5,467,239 |  |  | $ | 15,926 |  |  | $ | 9,139 |  |  | $ | 65,449 |  |  | $ | 90,514 |  |  | 1.63 | %
Construction - Speculative | 87,035 |  |  | 87,035 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Construction - Custom | 192,098 |  |  | 191,262 |  |  | 836 |  |  | — |  |  | — |  |  | 836 |  |  | 0.44 |
Land - Acquisition & Development | 68,066 |  |  | 67,911 |  |  | 155 |  |  | — |  |  | — |  |  | 155 |  |  | 0.23 |
Land - Consumer Lot Loans | 108,589 |  |  | 104,571 |  |  | 1,246 |  |  | 304 |  |  | 2,468 |  |  | 4,018 |  |  | 3.70 |
Multi-Family | 892,196 |  |  | 891,372 |  |  | 205 |  |  | 16 |  |  | 603 |  |  | 824 |  |  | 0.09 |
Commercial Real Estate | 529,453 |  |  | 513,409 |  |  | 67 |  |  | 15,118 |  |  | 859 |  |  | 16,044 |  |  | 3.03 |
Commercial & Industrial | 379,226 |  |  | 377,848 |  |  | 53 |  |  | 1,318 |  |  | 7 |  |  | 1,378 |  |  | 0.36 |
HELOC | 116,262 |  |  | 115,262 |  |  | 335 |  |  | 292 |  |  | 373 |  |  | 1,000 |  |  | 0.86 |
Consumer | 132,686 |  |  | 131,642 |  |  | 654 |  |  | 262 |  |  | 128 |  |  | 1,044 |  |  | 0.79 |
Total non-acquired loans | 8,063,364 |  |  | 7,947,551 |  |  | 19,477 |  |  | 26,449 |  |  | 69,887 |  |  | 115,813 |  |  | 1.44 | %
Acquired loans |  |  |  |  |  |  |  |  |  |  |  |  |
Single-Family Residential | 11,716 |  |  | 11,693 |  |  | — |  |  | — |  |  | 23 |  |  | 23 |  |  | 0.20 | %
Construction - Speculative | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Construction - Custom | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Land - Acquisition & Development | 905 |  |  | 905 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Land - Consumer Lot Loans | 2,502 |  |  | 2,132 |  |  | — |  |  | 370 |  |  | — |  |  | 370 |  |  | 14.79 |
Multi-Family | 2,999 |  |  | 2,999 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial Real Estate | 97,715 |  |  | 96,948 |  |  | 104 |  |  | — |  |  | 663 |  |  | 767 |  |  | 0.78 |
Commercial & Industrial | 51,329 |  |  | 51,229 |  |  | — |  |  | 100 |  |  | — |  |  | 100 |  |  | 0.19 |
HELOC | 8,056 |  |  | 8,056 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Consumer | 5,670 |  |  | 4,983 |  |  | 22 |  |  | 4 |  |  | 661 |  |  | 687 |  |  | 12.12 |
Total acquired loans | 180,892 |  |  | 178,945 |  |  | 126 |  |  | 474 |  |  | 1,347 |  |  | 1,947 |  |  | 1.08 | %
Credit-impaired acquired loans |  |  |  |  |  |  |  |  |  |  |  |  |
Single-Family Residential | 325 |  |  | 325 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Construction - Speculative | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Construction - Custom | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Land - Acquisition & Development | 1,581 |  |  | 1,581 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Land - Consumer Lot Loans | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-Family | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial Real Estate | 63,713 |  |  | 61,713 |  |  | 152 |  |  | 909 |  |  | 939 |  |  | 2,000 |  |  | 3.14 |
Commercial & Industrial | 3,477 |  |  | 3,470 |  |  | 7 |  |  | — |  |  | — |  |  | 7 |  |  | 0.20 |
HELOC | 10,138 |  |  | 9,641 |  |  | — |  |  | 75 |  |  | 422 |  |  | 497 |  |  | 4.90 |
Consumer | 54 |  |  | 54 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total credit-impaired acquired loans | 79,288 |  |  | 76,784 |  |  | 159 |  |  | 984 |  |  | 1,361 |  |  | 2,504 |  |  | 3.16 | %
Total loans | $ | 8,323,544 |  |  | $ | 8,203,280 |  |  | $ | 19,762 |  |  | $ | 27,907 |  |  | $ | 72,595 |  |  | $ | 120,264 |  |  | 1.44 | %
Most loans restructured in troubled debt restructurings ("TDRs") are accruing and performing loans where the borrower has proactively approached the Bank about modifications 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 from 100 to 200 bps 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 September 30, 2014, the outstanding balance of TDR's was $374,743,000. Single-family residential loans comprised 86% of restructured loans which is the same as 86% at the prior year end. The Bank 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 provides information related to loans that were restructured during the period ending:
| September 30, 2014 |  | September 30, 2013
|  |  | Pre-Modification |  | Post-Modification |  |  |  | Pre-Modification |  | Post-Modification
|  |  | Outstanding |  | Outstanding |  |  |  | Outstanding |  | Outstanding
| Number of |  | Recorded |  | Recorded |  | Number of |  | Recorded |  | Recorded
Troubled Debt Restructurings: | Contracts |  | Investment |  | Investment |  | Contracts |  | Investment |  | Investment
|  |  | (In thousands) |  |  |  | (In thousands)
Single-Family Residential | 241 |  |  | $ | 52,900 |  |  | $ | 52,900 |  |  | 406 |  |  | $ | 105,551 |  |  | $ | 105,551 |
Construction - Speculative | — |  |  | — |  |  | — |  |  | 1 |  |  | 2,470 |  |  | 2,470 |
Construction - Custom | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Land - Acquisition & Development | 3 |  |  | 631 |  |  | 631 |  |  | 1 |  |  | 461 |  |  | 461 |
Land - Consumer Lot Loans | 13 |  |  | 2,315 |  |  | 2,315 |  |  | 25 |  |  | 3,134 |  |  | 3,134 |
Multi-Family | 2 |  |  | 1,196 |  |  | 1,196 |  |  | 1 |  |  | 36 |  |  | 36 |
Commercial Real Estate | 3 |  |  | 2,177 |  |  | 2,177 |  |  | 15 |  |  | 11,523 |  |  | 11,523 |
Commercial & Industrial | — |  |  | — |  |  | — |  |  | 1 |  |  | 56 |  |  | 56 |
HELOC | 2 |  |  | 549 |  |  | 549 |  |  | 1 |  |  | 199 |  |  | 199 |
Consumer | 3 |  |  | 35 |  |  | 35 |  |  | 2 |  |  | 33 |  |  | 33 |
| 267 |  |  | $ | 59,803 |  |  | $ | 59,803 |  |  | 453 |  |  | $ | 123,463 |  |  | $ | 123,463 |
| September 30, 2014 |  | September 30, 2013
| Number of |  | Recorded |  | Number of |  | Recorded
Troubled Debt Restructurings That Subsequently Defaulted: | Contracts |  | Investment |  | Contracts |  | Investment
|  |  | (In thousands) |  |  |  | (In thousands)
Single-Family Residential | 38 |  |  | $ | 7,427 |  |  | 78 |  |  | $ | 17,120 |
Construction - Speculative | — |  |  | — |  |  | — |  |  | — |
Construction - Custom | — |  |  | — |  |  | — |  |  | — |
Land - Acquisition & Development | — |  |  | — |  |  | — |  |  | — |
Land - Consumer Lot Loans | 8 |  |  | 969 |  |  | 2 |  |  | 237 |
Multi-Family | — |  |  | — |  |  | — |  |  | — |
Commercial Real Estate | — |  |  | — |  |  | 2 |  |  | 2,703 |
Commercial & Industrial | — |  |  | — |  |  | — |  |  | — |
HELOC | — |  |  | — |  |  | 1 |  |  | 79 |
Consumer | — |  |  | — |  |  | — |  |  | — |
| 46 |  |  | $ | 8,396 |  |  | 83 |  |  | $ | 20,139 |
The excess of cash flows expected to be collected over the initial fair value of acquired impaired loans is referred to as the accretable yield and is accreted into interest income over the estimated life of the acquired loans using the effective yield method. Other adjustments to the accretable yield include changes in the estimated remaining life of the acquired loans, changes in expected cash flows and changes of indices for acquired loans with variable interest rates. The following table shows the changes in accretable yield for acquired impaired loans and acquired non-impaired loans for the years ended September 30, 2014 and 2013:
| September 30, 2014 |  | September 30, 2013
| 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)
Beginning balance | $ | 37,236 |  |  | $ | 69,718 |  |  | $ | 4,977 |  |  | $ | 245,373 |  |  | $ | 16,928 |  |  | $ | 77,613 |  |  | $ | — |  |  | $ | — |
Additions | 7,300 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9,865 |  |  | 10,804 |  |  | 351,335 |
Net reclassification from nonaccretable | — |  |  | — |  |  | — |  |  | — |  |  | 30,026 |  |  | — |  |  | — |  |  | — |
Accretion | (11,945 | ) |  | 11,945 |  |  | (723 | ) |  | 723 |  |  | (9,718 | ) |  | 9,718 |  |  | (5,827 | ) |  | 5,827 |
Transfers to REO | — |  |  | (1,188 | ) |  | — |  |  | (4,710 | ) |  | — |  |  | (3,975 | ) |  | — |  |  | (7,755 | )
Payments received, net | — |  |  | (22,704 | ) |  | — |  |  | (63,946 | ) |  | — |  |  | (23,503 | ) |  | — |  |  | (104,034 | )
Ending Balance | $ | 32,591 |  |  | $ | 57,771 |  |  | $ | 4,254 |  |  | $ | 177,440 |  |  | $ | 37,236 |  |  | $ | 69,718 |  |  | $ | 4,977 |  |  | $ | 245,373 |
Additionally, there were $9.9 million in loans acquired during fiscal 2013 as part of the South Valley Bank acquisition for which it was probable at acquisition that all contractually required payments would not be collected. The timing and amount of future cash flows cannot be reasonably estimated; therefore, these loan are accounted for on a cash basis. The following table shows loans that were acquired during fiscal 2012 as part of the Western National Bank acquisition and are accounted for under FASB ASC 310-30:
| Western National Bank
(In thousands) | December 16, 2011
Contractually required payments of interest and principal | $ | 171,515 |
Nonaccretable difference | (56,440 | )
Cash flows expected to be collected (1) | 115,075 |
Accretable yield | (21,384 | )
Carrying value of acquired loans | $ | 93,691 |
(1) Represents undiscounted expected principal and interest cash flows

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