Loans Receivable (excluding Covered Loans)



	March 31, 2014				September 30, 2013
	(In thousands)
Non-acquired loans
Single-family residential	$	5,448,587	66.5	%	$	5,359,149	67.1	%
Construction - speculative	135,001		1.7		130,778		1.6
Construction - custom	354,279		4.3		302,722		3.8
Land - acquisition & development	74,155		0.9		77,775		1.1
Land - consumer lot loans	113,623		1.3		121,671		1.5
Multi-family	866,097		10.6		831,684		10.4
Commercial real estate	454,246		5.6		414,961		5.1
Commercial & industrial	277,109		3.4		243,199		3.0
HELOC	112,549		1.4		112,186		1.4
Consumer	41,339		0.5		47,141		0.6
Total non-acquired loans	7,876,985		96.2		7,641,266		95.6
Non-impaired acquired loans
Single-family residential	13,177		0.2		14,468		0.2
Construction - speculative	—		—		—		—
Construction - custom	—		—		—		—
Land - acquisition & development	1,135		—		1,489		—
Land - consumer lot loans	3,241		0.1		3,313		—
Multi-family	3,538		—		3,914		0.1
Commercial real estate	112,089		1.3		133,423		1.7
Commercial & industrial	69,872		0.9		75,326		0.9
HELOC	8,624		0.1		10,179		0.1
Consumer	6,842		0.1		8,267		0.1
Total acquired loans	218,518		2.7		250,379		3.1
Credit-impaired acquired loans
Single-family residential	329		—		333		—
Construction - speculative	—		—		—		—
Land - acquisition & development	1,759		—		2,396		—
Multi-family	—		—		—		—
Commercial real estate	68,122		0.9		76,909		1.1
Commercial & industrial	4,724		0.1		7,925		0.1
HELOC	10,679		0.1		11,266		0.1
Consumer	58		—		71		—
Total credit-impaired acquired loans	85,671		1.1		98,900		1.3
Total loans
Single-family residential	5,462,093		66.7		5,373,950		67.3
Construction - speculative	135,001		1.7		130,778		1.6
Construction - custom	354,279		4.3		302,722		3.8
Land - acquisition & development	77,049		0.9		81,660		1.1
Land - consumer lot loans	116,864		1.4		124,984		1.5
Multi-family	869,635		10.6		835,598		10.5
Commercial real estate	634,457		7.8		625,293		7.9
Commercial & industrial	351,705		4.4		326,450		4.0



HELOC	131,852		1.6		133,631		1.6
Consumer	48,239		0.6		55,479		0.7
Total Loans	8,181,174		100	%	7,990,545		100	%
Less:
Allowance for probable losses	114,931				116,741
Loans in process	264,946				275,577
Discount on acquired loans	29,286				34,143
Deferred net origination fees	34,902				36,054
	444,065				462,515
	$	7,737,109			$	7,528,030

Changes in the carrying amount and accretable yield for acquired non-impaired and credit-impaired loans (excluding covered loans) for the six months ended March 31, 2014 and the fiscal year ended September 30, 2013 were as follows:



March 31, 2014	Acquired Impaired						Acquired Non-impaired
	Accretable Yield			Net Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans
	(In thousands)
Balance as of beginning of period	$	37,236		$	69,718		$	4,977		$	245,373
Reclassification from nonaccretable balance, net (1)	7,300			—			—			—
Accretion	(5,838		)	5,838			(606		)	606
Transfers to REO	—			(1,188		)	—			(1,278		)
Payments received, net	—			(13,620		)	—			(30,565		)
Balance as of end of period	$	38,698		$	60,748		$	4,371		$	214,136
(1) reclassification due to improvements in expected cash flows of the underlying loans.



September 30, 2013	Acquired Impaired						Acquired Non-impaired
	Accretable Yield			Net 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 (1)	30,026			—			—			—
Additions (2)	—			9,865			10,804			351,335
Accretion	(9,718		)	9,718			(5,827		)	5,827
Transfers to REO	—			(3,975		)	—			(7,755		)
Payments received, net	—			(23,503		)	—			(104,034		)
Balance as of end of period	$	37,236		$	69,718		$	4,977		$	245,373
(1) reclassification due to improvements in expected cash flows of the underlying loans.
(2) includes acquired loans which were acquired as part of the South Valley Bank acquisition.

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



	March 31, 2014				September 30, 2013
	(In thousands)
Non-accrual loans:
Single-family residential	$	81,740	81.6	%	$	100,460	76.5	%
Construction - speculative	2,132		2.1		4,560		3.5
Construction - custom	265		0.3		—		—
Land - acquisition & development	2,113		2.1		2,903		2.2
Land - consumer lot loans	3,007		3.0		3,337		2.5
Multi-family	2,199		2.2		6,573		5.0
Commercial real estate	7,101		7.1		11,736		8.9
Commercial & industrial	579		0.6		477		0.4
HELOC	441		0.4		263		0.2
Consumer	621		0.6		990		0.8
Total non-accrual loans	$	100,198	100	%	$	131,299	100	%

The following tables provide an analysis of the age of loans (excluding covered loans) in past due status as of March 31, 2014 and September 30, 2013, respectively. These balances are net of LIP and charge-offs only.



March 31, 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		% based on $
	(In thousands)
Non-acquired loans
Single-Family Residential	$	5,445,950	$	5,343,076	$	27,559	$	11,275	$	64,040	$	102,874	1.89	%
Construction - Speculative	88,954		88,124		196		—		634		830		0.93
Construction - Custom	178,099		176,624		1,210		—		265		1,475		0.83
Land - Acquisition & Development	67,314		65,259		—		—		2,055		2,055		3.05
Land - Consumer Lot Loans	113,567		110,021		391		273		2,882		3,546		3.12
Multi-Family	848,708		847,562		20		—		1,126		1,146		0.14
Commercial Real Estate	438,382		435,766		967		387		1,262		2,616		0.60
Commercial & Industrial	277,100		275,817		1,246		1		36		1,283		0.46
HELOC	112,550		111,625		603		284		38		925		0.82
Consumer	41,434		40,184		781		225		244		1,250		3.02
Total non-acquired loans	7,612,058		7,494,058		32,973		12,445		72,582		118,000		1.55	%

Non-impaired acquired loans
Single-Family Residential	13,177		13,104		73		—		—		73		0.55	%
Construction - Speculative	—		—		—		—		—		—		—
Construction - Custom	—		—		—		—		—		—		—
Land - Acquisition & Development	1,135		726		—		409		—		409		36.04



Land - Consumer Lot Loans	3,240		3,115		—		—		125		125		3.86
Multi-Family	3,538		3,402		—		—		136		136		3.84
Commercial Real Estate	112,083		108,651		96		—		3,336		3,432		3.06
Commercial & Industrial	69,868		69,542		120		69		137		326		0.47
HELOC	8,624		8,440		184		—		—		184		2.13
Consumer	6,842		6,417		46		2		377		425		6.21
Total non-impaired acquired loans	218,507		213,397		519		480		4,111		5,110		2.34	%

Credit-impaired acquired loans
Single-Family Residential	329		329		—		—		—		—		—	%
Construction - Speculative	—		—		—		—		—		—		—
Construction - Custom	—		—		—		—		—		—		—
Land - Acquisition & Development	1,758		1,758		—		—		—		—		—
Land - Consumer Lot Loans	—		—		—		—		—		—		—
Multi-Family	—		—		—		—		—		—		—
Commercial Real Estate	68,115		67,767		348		—		—		348		0.51
Commercial & Industrial	4,724		4,318		—		—		406		406		8.59
HELOC	10,679		10,276		—		—		403		403		3.77
Consumer	58		58		—		—		—		—		—
Total credit-impaired acquired loans	85,663		84,506		348		—		809		1,157		1.35	%

Total Loans	$	7,916,228	$	7,791,961	$	33,840	$	12,925	$	77,502	$	124,267	1.57	%



September 30, 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	$	5,356,200	$	5,237,413	$	26,888	$	12,373	$	79,526	$	118,787	2.22	%
Construction - Speculative	82,422		80,047		—		—		2,375		2,375		2.88
Construction - Custom	130,095		129,678		417		—		—		417		0.32
Land - Acquisition & Development	71,567		70,106		—		—		1,461		1,461		2.04
Land - Consumer Lot Loans	121,473		117,076		806		355		3,236		4,397		3.62
Multi-Family	790,564		785,793		—		—		4,771		4,771		0.60
Commercial Real Estate	404,680		398,114		2,942		351		3,273		6,566		1.62
Commercial & Industrial	249,405		249,363		42		—		—		42		0.02
HELOC	112,186		111,407		493		213		73		779		0.69
Consumer	47,142		45,620		849		283		390		1,522		3.23
Total non-acquired loans	7,365,734		7,224,617		32,437		13,575		95,105		141,117		1.92	%



Non-impaired acquired loans
Single-Family Residential	14,468		14,343		82		—		43		125		0.86	%
Construction - Speculative	—		—		—		—		—		—		NM
Construction - Custom	—		—		—		—		—		—		NM
Land - Acquisition & Development	1,489		1,241		—		—		248		248		16.66
Land - Consumer Lot Loans	3,313		2,987		125		100		101		326		9.84
Multi-Family	3,914		3,914		—		—		—		—		—
Commercial Real Estate	133,398		128,610		134		617		4,037		4,788		3.59
Commercial & Industrial	75,323		74,992		10		153		168		331		0.44
HELOC	10,179		10,063		—		16		100		116		1.14
Consumer	8,266		7,568		90		8		600		698		8.44
Total non-impaired acquired loans	250,350		243,718		441		894		5,297		6,632		2.65	%

Credit-impaired acquired loans
Single-Family Residential	333		333		—		—		—		—		—	%
Construction - Speculative	—		—		—		—		—		—		NM
Construction - Custom	—		—		—		—		—		—		—
Land - Acquisition & Development	2,393		1,929		—		464		—		464		19.39
Land - Consumer Lot Loans	—		—		—		—		—		—		—
Multi-Family	—		—		—		—		—		—		—
Commercial Real Estate	83,116		80,095		2,301		—		720		3,021		3.63
Commercial & Industrial	1,705		1,396		—		—		309		309		18.12
HELOC	11,266		11,176		—		—		90		90		0.80
Consumer	71		71		—		—		—		—		—
Total credit-impaired acquired loans	98,884		95,000		2,301		464		1,119		3,884		3.93	%

Total Loans	$	7,714,968	$	7,563,335	$	35,179	$	14,933	$	101,521	$	151,633	1.97	%

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 twenty-four months. Interest-only payments may also be approved during the modification period. As of March 31, 2014, single-family residential loans comprised 86.1% 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,
	2014					2013
		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	43	$	12,692	$	12,692	130	$	36,059	$	36,059
Construction - Speculative	—	—		—		—	—		—
Construction - Custom	—	—		—		—	—		—
Land - Acquisition & Development	—	—		—		—	—		—
Land - Consumer Lot Loans	1	302		302		9	1,350		1,350
Multi-Family	—	—		—		—	—		—
Commercial Real Estate	—	—		—		—	—		—
Commercial & Industrial	—	—		—		—	—		—
HELOC	—	—		—		1	200		200
Consumer	1	130		130		—	—		—
	45	$	13,124	$	13,124	140	$	37,609	$	37,609

	Six Months Ended March 31,
	2014					2013
		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	151	34,877		34,877		230	63,146		63,146
Construction - Speculative	—	—		—		1	2,492		2,492
Construction - Custom	—	—		—		—	—		—
Land - Acquisition & Development	—	—		—		—	—		—
Land - Consumer Lot Loans	6	1,394		1,394		18	2,761		2,761
Multi-Family	2	1,207		1,207		1	55		55
Commercial Real Estate	1	804		804		—	—		—
Commercial & Industrial	—	—		—		—	—		—
HELOC	1	261		261		1	200		200
Consumer	3	167		167		—	—		—
	164	$	38,710	$	38,710	251	$	68,654	$	68,654

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,
	2014			2013
	Number of	Recorded		Number of	Recorded
	Contracts	Investment		Contracts	Investment
	(In thousands)			(In thousands)
Troubled Debt Restructurings That Subsequently Defaulted:
Single-Family Residential	23	$	4,218	37	$	8,579
Construction - Speculative	—	—		—	—
Construction - Custom	—	—		—	—
Land - Acquisition & Development	—	—		—	—
Land - Consumer Lot Loans	1	83		1	139
Multi-Family	—	—		1	55
Commercial Real Estate	—	—		—	—
Commercial & Industrial	—	—		—	—
HELOC	—	—		2	113
Consumer	—	—		—	—
	24	$	4,301	41	$	8,886

	Six Months Ended March 31,
	2014			2013
	Number of	Recorded		Number of	Recorded
	Contracts	Investment		Contracts	Investment
	(In thousands)			(In thousands)
Troubled Debt Restructurings That Subsequently Defaulted:
Single-Family Residential	38	$	7,067	55	$	13,704
Construction - Speculative	—	—		—	—
Construction - Custom	—	—		—	—
Land - Acquisition & Development	—	—		—	—
Land - Consumer Lot Loans	4	358		1	139
Multi-Family	—	—		1	55
Commercial Real Estate	—	—		1	302
Commercial & Industrial	—	—		—	—
HELOC	—	—		2	113
Consumer	—	—		—	—
	42	$	7,425	60	$	14,313