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Allowance for Losses on Loans (Tables)

3 Months Ended

Dec. 31, 2017

Receivables [Abstract]

Summary of Activity in Allowance for Loan Losses

The following tables summarize the activity in the allowance for loan losses.

Three Months Ended December 31, 2017	Beginning Allowance				Charge-offs				Recoveries				Provision & Transfers				Ending Allowance
	(In thousands)
Single-family residential	$	36,892			$	(461	)		$	121			$	(624	)		$	35,928
Construction	24,556				—				—				658				25,214
Construction - custom	1,944				(50		)		—				158				2,052
Land - acquisition & development	6,829				—				3,372				(2,846		)		7,355
Land - consumer lot loans	2,649				(47		)		—				304				2,906
Multi-family	7,862				—				—				42				7,904
Commercial real estate	11,818				—				—				(193		)		11,625
Commercial & industrial	28,524				(116		)		55				805				29,268
HELOC	855				—				—				(47		)		808
Consumer	1,144				(78		)		286				2,743				4,095
	$	123,073			$	(752	)		$	3,834			$	1,000			$	127,155

Three Months Ended December 31, 2016	Beginning Allowance				Charge-offs				Recoveries				Provision & Transfers				Ending Allowance
	(In thousands)
Single-family residential	$	37,796			$	(115	)		$	151			$	374			$	38,206
Construction	19,838				—				—				2,096				21,934
Construction - custom	1,080				—				—				30				1,110
Land - acquisition & development	6,023				(20		)		4,018				(3,356		)		6,665
Land - consumer lot loans	2,535				(17		)		70				(87		)		2,501
Multi-family	6,925				—				—				704				7,629
Commercial real estate	8,588				(11		)		356				1,235				10,168
Commercial & industrial	28,008				(58		)		725				(939		)		27,736
HELOC	813				(37		)		1				55				832
Consumer	1,888				(146		)		379				(446		)		1,675
	$	113,494			$	(404	)		$	5,700			$	(334	)		$	118,456

Summary of Loans Collectively and Individually Evaluated for Impairment and Related Allocation of Reserves

The following tables show loans collectively and individually evaluated for impairment and the related allocation of general and specific reserves.

December 31, 2017	Loans Collectively Evaluated for Impairment											Loans Individually Evaluated for Impairment
	Allowance Allocation				Recorded Investment of Loans				Ratio			Allowance Allocation				Recorded Investment of Loans				Ratio
	(In thousands)											(In thousands)
Single-family residential	$	35,928			$	5,676,565			0.6	%		$	—			$	24,083			—	%
Construction	25,214				851,800				3.0			—				364				—
Construction - custom	2,052				292,255				0.7			—				—				—
Land - acquisition & development	7,355				110,884				6.6			—				1,376				—
Land - consumer lot loans	2,906				97,291				3.0			—				416				—
Multi-family	7,899				1,311,943				0.6			5				730				0.7
Commercial real estate	11,519				1,389,749				0.8			106				27,535				0.4
Commercial & industrial	28,744				1,108,961				2.6			524				11,694				4.5
HELOC	808				134,320				0.6			—				620				—
Consumer	4,095				219,784				1.9			—				70				—
	$	126,520			$	11,193,552			1.1	%		$	635			$	66,888			0.9	%

September 30, 2017	Loans Collectively Evaluated for Impairment											Loans Individually Evaluated for Impairment
	Allowance Allocation				Recorded Investment of Loans				Ratio			Allowance Allocation				Recorded Investment of Loans				Ratio
	(In thousands)											(In thousands)
Single-family residential	$	36,893			$	5,713,576			0.7	%		$	—			$	5,552			—	%
Construction	24,556				793,958				3.1			—				—				—
Construction - custom	1,944				277,495				0.7			—				105				—
Land - acquisition & development	6,828				104,767				6.5			1				89				1.0
Land - consumer lot loans	2,649				96,337				2.8			—				171				—
Multi-family	7,857				1,302,625				0.6			5				493				1.0
Commercial real estate	11,697				1,391,668				0.8			120				21,765				0.6
Commercial & industrial	28,524				1,093,210				2.6			—				81				—
HELOC	855				141,689				0.6			—				215				—
Consumer	1,144				84,887				1.4			—				82				—
	$	122,947			$	11,000,212			1.1	%		$	126			$	28,553			0.4	%

Summary of Loans Based on Credit Quality Indicators

The following tables provide information on loans based on risk rating categories as defined above.

December 31, 2017	Internally Assigned Grade
	Pass				Special mention				Substandard				Doubtful				Loss				Total Gross Loans
	(In thousands)
Loan type
Single-family residential	$	5,657,731			$	—			$	35,587			$	—			$	—			$	5,693,318
Construction	1,707,044				—				3,374				—				—				1,710,418
Construction - custom	583,580				—				—				—				—				583,580
Land - acquisition & development	134,625				—				2,313				—				—				136,938
Land - consumer lot loans	104,105				—				981				—				—				105,086
Multi-family	1,304,991				3,159				4,545				—				—				1,312,695
Commercial real estate	1,401,236				3,764				31,508				—				—				1,436,508
Commercial & industrial	1,077,207				10,423				33,077				—				—				1,120,707
HELOC	136,287				—				708				—				—				136,995
Consumer	219,899				—				72				—				—				219,971
Total gross loans	$	12,326,705			$	17,346			$	112,165			$	—			$	—			$	12,456,216
Total grade as a % of total gross loans	99.0		%		0.1		%		0.9		%		—		%		—		%

September 30, 2017	Internally Assigned Grade
	Pass				Special mention				Substandard				Doubtful				Loss				Total Gross Loans
	(In thousands)
Loan type
Single-family residential	$	5,671,229			$	—			$	39,775			$	—			$	—			$	5,711,004
Construction	1,594,926				—				3,070				—				—				1,597,996
Construction - custom	602,540				—				91				—				—				602,631
Land - acquisition & development	123,028				207				1,073				—				—				124,308
Land - consumer lot loans	103,787				—				618				—				—				104,405
Multi-family	1,295,261				5,795				2,092				—				—				1,303,148
Commercial real estate	1,391,996				5,944				36,670				—				—				1,434,610
Commercial & industrial	1,054,972				14,814				23,574				—				—				1,093,360
HELOC	144,229				—				621				—				—				144,850
Consumer	84,984				—				91				—				—				85,075
Total gross loans	$	12,066,952			$	26,760			$	107,675			$	—			$	—			$	12,201,387
Total grade as a % of total gross loans	98.9		%		0.2		%		0.9		%		—		%		—		%

The following tables provide information on gross loans based on borrower payment activity.

December 31, 2017	Performing Loans							Non-Performing Loans
	Amount				% of Total Gross  Loans			Amount				% of Total Gross  Loans
	(In thousands)
Single-family residential	$	5,667,099			99.5	%		$	26,219			0.5	%
Construction	1,710,054				100.0			364				—
Construction - custom	583,580				100.0			—				—
Land - acquisition & development	135,612				99.0			1,326				1.0
Land - consumer lot loans	104,110				99.1			976				0.9
Multi-family	1,312,445				100.0			250				—
Commercial real estate	1,428,267				99.4			8,241				0.6
Commercial & industrial	1,113,111				99.3			7,596				0.7
HELOC	136,519				99.7			476				0.3
Consumer	219,899				100.0			72				—
	$	12,410,696			99.6	%		$	45,520			0.4	%

September 30, 2017	Performing Loans							Non-Performing Loans
	Amount				% of Total Gross  Loans			Amount				% of Total Gross  Loans
	(In thousands)
Single-family residential	$	5,683,074			99.5	%		$	27,930			0.5	%
Construction	1,597,996				100.0			—				—
Construction - custom	602,540				99.9			91				0.1
Land - acquisition & development	124,012				99.8			296				0.2
Land - consumer lot loans	103,800				99.4			605				0.6
Multi-family	1,303,009				99.9			139				0.1
Commercial real estate	1,422,795				99.2			11,815				0.8
Commercial & industrial	1,085,278				99.3			8,082				0.7
HELOC	144,319				99.6			531				0.4
Consumer	84,984				99.9			91				0.1
	$	12,151,807			99.6	%		$	49,580			0.4	%

Summary of Impaired Loans Based on Type

The following tables provide information on impaired loan balances and the related allowances by loan types.

December 31, 2017	Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment
	(In thousands)
Impaired loans with no related allowance recorded:
Single-family residential	$	20,405			$	21,860			$	—			$	20,864
Construction	969				969				—				485
Construction - custom	—				—				—				74
Land - acquisition & development	1,376				1,405				—				853
Land - consumer lot loans	300				375				—				254
Multi-family	250				254				—				195
Commercial real estate	16,372				21,720				—				14,631
Commercial & industrial	4,439				4,506				—				6,359
HELOC	620				747				—				555
Consumer	70				134				—				79
	44,801				51,970				—				44,349
Impaired loans with an allowance recorded:
Single-family residential	170,677				174,162				3,412				176,308
Land - acquisition & development	—				—				—				45
Land - consumer lot loans	7,405				7,776				—				7,677
Multi-family	480				480				5				487
Commercial real estate	11,910				12,755				106				13,495
Commercial & industrial	7,256				7,256				524				3,628
HELOC	1,356				1,435				—				1,542
Consumer	91				91				—				94
	199,175				203,955				4,047			(1)	203,276
Total impaired loans:
Single-family residential	191,082				196,022				3,412				197,172
Construction	969				969				—				485
Construction - custom	—				—				—				74
Land - acquisition & development	1,376				1,405				—				898
Land - consumer lot loans	7,705				8,151				—				7,931
Multi-family	730				734				5				682
Commercial real estate	28,282				34,475				106				28,126
Commercial & industrial	11,695				11,762				524				9,987
HELOC	1,976				2,182				—				2,097
Consumer	161				225				—				173
	$	243,976			$	255,925			$	4,047		(1)	$	247,625

(1) Includes $635,000 of specific reserves and $3,412,000 included in the general reserves.

September 30, 2017	Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment
	(In thousands)
Impaired loans with no related allowance recorded:
Single-family residential	$	21,325			$	23,880			$	—			$	19,371
Construction - custom	148				165				—				231
Land - acquisition & development	330				8,208				—				176
Land - consumer lot loans	208				330				—				431
Multi-family	139				3,231				—				748
Commercial real estate	12,890				22,487				—				11,466
Commercial & industrial	8,279				14,321				—				7,425
HELOC	490				1,212				—				487
Consumer	88				1,433				—				57
	43,897				75,267				—				40,392
Impaired loans with an allowance recorded:
Single-family residential	181,941				186,167				4,030				204,723
Land - acquisition & development	90				90				1				576
Land - consumer lot loans	7,949				8,526				—				8,976
Multi-family	493				493				5				1,024
Commercial real estate	15,079				16,707				120				16,991
Commercial & industrial	—				—				—				297
HELOC	1,728				1,806				—				1,451
Consumer	97				284				—				100
	207,377				214,073				4,156			(1)	234,138
Total impaired loans:
Single-family residential	203,266				210,047				4,030				224,094
Construction - custom	148				165				—				231
Land - acquisition & development	420				8,298				1				752
Land - consumer lot loans	8,157				8,856				—				9,407
Multi-family	632				3,724				5				1,772
Commercial real estate	27,969				39,194				120				28,457
Commercial & industrial	8,279				14,321				—				7,722
HELOC	2,218				3,018				—				1,938
Consumer	185				1,717				—				157
	$	251,274			$	289,340			$	4,156		(1)	$	274,530

(1) Includes $126,000 of specific reserves and $4,030,000 included in the general reserves

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- Definition

Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953423-111524

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- 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 55
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=82894031&loc=SL6953803-111525

Reference 2: 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=84173941&loc=SL6953659-111524

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Tabular disclosure of impaired financing receivables.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5212-111524

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Schedule of Loans Collectively and Individually Evaluated for Impairment [Table Text Block]

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