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Loans Receivable (Tables) | 12 Months Ended
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Sep. 30, 2019
Receivables [Abstract] |
Schedule of loans receivable | The following table is a summary of loans receivable.
| September 30, 2019 |  | September 30, 2018
| (In thousands) |  | (In thousands)
Gross loans by category |  |  |  |  |
Single-family residential | $ | 5,835,194 |  | 43.8 | % |  | $ | 5,798,966 |  | 45.1 | %
Construction | 2,038,052 |  | 15.3 |  |  | 1,890,668 |  | 14.7 |
Construction - custom | 540,741 |  | 4.1 |  |  | 624,479 |  | 4.9 |
Land - acquisition & development | 204,107 |  | 1.5 |  |  | 155,204 |  | 1.2 |
Land - consumer lot loans | 99,694 |  | 0.7 |  |  | 102,036 |  | 0.8 |
Multi-family | 1,422,674 |  | 10.7 |  |  | 1,385,125 |  | 10.8 |
Commercial real estate | 1,631,170 |  | 12.3 |  |  | 1,452,168 |  | 11.3 |
Commercial & industrial | 1,268,695 |  | 9.5 |  |  | 1,140,874 |  | 8.9 |
HELOC | 142,178 |  | 1.1 |  |  | 130,852 |  | 1.0 |
Consumer | 129,883 |  | 1.0 |  |  | 173,306 |  | 1.3 |
Total gross loans | 13,312,388 |  | 100 | % |  | 12,853,678 |  | 100 | %
Less: |  |  |  |  |
Allowance for probable losses | 131,534 |  |  |  | 129,257 |  |
Loans in process | 1,201,341 |  |  |  | 1,195,506 |  |
Net deferred fees, costs and discounts | 48,938 |  |  |  | 51,834 |  |
Total loan contra accounts | 1,381,813 |  |  |  | 1,376,597 |  |
Net loans | $ | 11,930,575 |  |  |  | $ | 11,477,081 |  |
Schedule of fixed and adjustable rate loans | The following summary breaks down the Company's fixed rate and adjustable rate loans by time to maturity or to rate adjustment.
September 30, 2019
Fixed-Rate |  | Adjustable-Rate
Term To Maturity | Gross Loans | % of Gross Loans |  | Term To Rate Adjustment | Gross Loans | % of Gross Loans
| (In thousands) |  |  |  | (In thousands) |
Within 1 year | $ | 135,426 |  | 1.0 | % |  | Less than 1 year | $ | 4,056,238 |  | 30.5 | %
1 to 3 years | 416,285 |  | 3.1 |  |  | 1 to 3 years | 558,197 |  | 4.2 |
3 to 5 years | 341,838 |  | 2.6 |  |  | 3 to 5 years | 489,151 |  | 3.7 |
5 to 10 years | 993,685 |  | 7.5 |  |  | 5 to 10 years | 110,934 |  | 0.8 |
10 to 20 years | 1,059,127 |  | 8.0 |  |  | 10 to 20 years | 32,242 |  | 0.2 |
Over 20 years | 5,101,241 |  | 38.3 |  |  | Over 20 years | 18,024 |  | 0.1 |
| $ | 8,047,602 |  | 60.5 | % |  |  | $ | 5,264,786 |  | 39.5 | %
Schedule of loans receivable by loan category and geography | The following tables provide information regarding loans receivable by loan category and geography.
September 30, 2019 | Single - family residential | Multi- family | Land - A & D | Land - lot loans | Construction - custom | Construction | Commercial real estate | Commercial and industrial | Consumer | HELOC | Total
| (In thousands)
Washington | $ | 3,125,058 |  | $ | 351,771 |  | $ | 82,891 |  | $ | 61,534 |  | $ | 315,615 |  | $ | 482,453 |  | $ | 530,165 |  | $ | 521,049 |  | $ | 90,263 |  | $ | 83,818 |  | $ | 5,644,617 |
Oregon | 694,577 |  | 353,388 |  | 50,195 |  | 13,228 |  | 61,699 |  | 430,749 |  | 294,574 |  | 287,922 |  | 1,376 |  | 14,780 |  | 2,202,488 |
Arizona | 575,256 |  | 331,088 |  | 18,871 |  | 10,990 |  | 58,550 |  | 262,400 |  | 246,041 |  | 78,590 |  | 1,642 |  | 12,570 |  | 1,595,998 |
Utah | 527,142 |  | 58,865 |  | — |  | 4,116 |  | 45,277 |  | 246,097 |  | 74,454 |  | 40,368 |  | 127 |  | 7,458 |  | 1,003,904 |
Texas | 161,616 |  | 82,598 |  | 2,936 |  | 416 |  | 1,889 |  | 420,627 |  | 165,692 |  | 165,646 |  | 467 |  | — |  | 1,001,887 |
New Mexico | 205,559 |  | 174,485 |  | 32,443 |  | 2,049 |  | 17,775 |  | 68,120 |  | 194,621 |  | 15,379 |  | 1,162 |  | 11,474 |  | 723,067 |
Idaho | 321,184 |  | 43,446 |  | 16,771 |  | 4,658 |  | 27,499 |  | 88,956 |  | 91,725 |  | 34,125 |  | 84 |  | 8,932 |  | 637,380 |
Nevada | 190,941 |  | 26,837 |  | — |  | 2,694 |  | 12,437 |  | — |  | 32,094 |  | 20,426 |  | 95 |  | 3,129 |  | 288,653 |
Other | 33,861 |  | 196 |  | — |  | 9 |  | — |  | 38,650 |  | 1,804 |  | 105,190 |  | 34,667 |  | 17 |  | 214,394 |
| $ | 5,835,194 |  | $ | 1,422,674 |  | $ | 204,107 |  | $ | 99,694 |  | $ | 540,741 |  | $ | 2,038,052 |  | $ | 1,631,170 |  | $ | 1,268,695 |  | $ | 129,883 |  | $ | 142,178 |  | $ | 13,312,388 |
Percentage by geographic area
September 30, 2019 | Single - family residential | Multi- family | Land - A & D | Land - lot loans | Construction - custom | Construction | Commercial real estate | Commercial and industrial | Consumer | HELOC | Total
| As % of total gross loans
Washington | 23.5 | % | 2.7 | % | 0.7 | % | 0.5 | % | 2.5 | % | 3.6 | % | 4.1 | % | 3.8 | % | 0.7 | % | 0.6 | % | 42.7 | %
Oregon | 5.2 |  | 2.7 |  | 0.4 |  | 0.1 |  | 0.5 |  | 3.2 |  | 2.2 |  | 2.2 |  | — |  | 0.1 |  | 16.6 |
Arizona | 4.3 |  | 2.5 |  | 0.1 |  | 0.1 |  | 0.4 |  | 2.0 |  | 1.8 |  | 0.6 |  | — |  | 0.1 |  | 11.9 |
Utah | 4.0 |  | 0.4 |  | — |  | — |  | 0.3 |  | 1.8 |  | 0.6 |  | 0.3 |  | — |  | 0.1 |  | 7.5 |
Texas | 1.2 |  | 0.6 |  | — |  | — |  | — |  | 3.2 |  | 1.2 |  | 1.2 |  | — |  | — |  | 7.4 |
New Mexico | 1.5 |  | 1.3 |  | 0.2 |  | — |  | 0.1 |  | 0.5 |  | 1.5 |  | 0.1 |  | — |  | 0.1 |  | 5.3 |
Idaho | 2.4 |  | 0.3 |  | 0.1 |  | — |  | 0.2 |  | 0.7 |  | 0.7 |  | 0.3 |  | — |  | 0.1 |  | 4.8 |
Nevada | 1.4 |  | 0.2 |  | — |  | — |  | 0.1 |  | — |  | 0.2 |  | 0.2 |  | — |  | — |  | 2.1 |
Other | 0.3 |  | — |  | — |  | — |  | — |  | 0.3 |  | — |  | 0.8 |  | 0.3 |  | — |  | 1.7 |
| 43.8 | % | 10.7 | % | 1.5 | % | 0.7 | % | 4.1 | % | 15.3 | % | 12.3 | % | 9.5 | % | 1.0 | % | 1.1 | % | 100 | %
Percentage by geographic area as a % of each loan type
September 30, 2019 | Single - family residential | Multi- family | Land - A & D | Land - lot loans | Construction - custom | Construction | Commercial real estate | Commercial and industrial | Consumer | HELOC
| As % of total gross loans
Washington | 53.6 | % | 24.7 | % | 40.6 | % | 61.7 | % | 58.4 | % | 23.7 | % | 32.5 | % | 41.1 | % | 69.5 | % | 59.0 | %
Oregon | 11.9 |  | 24.8 |  | 24.6 |  | 13.3 |  | 11.4 |  | 21.1 |  | 18.1 |  | 22.7 |  | 1.1 |  | 10.4 |
Arizona | 9.9 |  | 23.3 |  | 9.2 |  | 11.0 |  | 10.8 |  | 12.9 |  | 15.1 |  | 6.2 |  | 1.3 |  | 8.8 |
Utah | 9.0 |  | 4.1 |  | — |  | 4.1 |  | 8.4 |  | 12.1 |  | 4.6 |  | 3.2 |  | 0.1 |  | 5.2 |
Texas | 2.8 |  | 5.8 |  | 1.4 |  | 0.4 |  | 0.3 |  | 20.6 |  | 10.2 |  | 13.1 |  | 0.4 |  | — |
New Mexico | 3.5 |  | 12.3 |  | 15.9 |  | 2.1 |  | 3.3 |  | 3.3 |  | 11.9 |  | 1.2 |  | 0.9 |  | 8.1 |
Idaho | 5.5 |  | 3.1 |  | 8.2 |  | 4.7 |  | 5.1 |  | 4.4 |  | 5.6 |  | 2.7 |  | 0.1 |  | 6.3 |
Nevada | 3.3 |  | 1.9 |  | — |  | 2.7 |  | 2.3 |  | — |  | 2.0 |  | 1.6 |  | 0.1 |  | 2.2 |
Other | 0.6 |  | — |  | — |  | — |  | — |  | 1.9 |  | 0.1 |  | 8.3 |  | 26.7 |  | — |
| 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | %
Schedule of impaired loans, loan commitments and loans serviced for others | The following table provides additional information on impaired loans, loan commitments and loans serviced for others.
| September 30, 2019 |  | September 30, 2018
| (In thousands)
Recorded investment in impaired loans | $ | 149,546 |  |  | $ | 199,545 |
TDRs included in impaired loans | 121,677 |  |  | 156,858 |
Specific reserves on impaired loans | 439 |  |  | 517 |
Average balance of impaired loans for year ended | 175,187 |  |  | 228,398 |
Interest income from impaired loans for year ended | 7,918 |  |  | 10,232 |
Outstanding fixed-rate origination commitments | 357,247 |  |  | 400,426 |
Gross loans serviced for others | 102,282 |  |  | 77,958 |
Non accrual loans held by the company | The following table sets forth information regarding non-accrual loans.
| September 30, 2019 |  | September 30, 2018
| (In thousands) |  | (In thousands)
Non-accrual loans: |  |  |  |  |  |  |
Single-family residential | $ | 25,271 |  |  | 74.9 | % |  | $ | 27,643 |  |  | 49.6 | %
Construction | — |  |  | — |  |  | 2,427 |  |  | 4.4 |
Land - acquisition & development | 169 |  |  | 0.5 |  |  | 920 |  |  | 1.7 |
Land - consumer lot loans | 246 |  |  | 0.7 |  |  | 787 |  |  | 1.4 |
Commercial real estate | 5,835 |  |  | 17.3 |  |  | 8,971 |  |  | 16.1 |
Commercial & industrial | 1,292 |  |  | 3.8 |  |  | 14,394 |  |  | 25.8 |
HELOC | 907 |  |  | 2.7 |  |  | 523 |  |  | 0.9 |
Consumer | 11 |  |  | — |  |  | 21 |  |  | — |
Total non-accrual loans | $ | 33,731 |  |  | 100 | % |  | $ | 55,686 |  |  | 100 | %
Non-accrual loans as % of total loans | 0.28 | % |  |  |  | 0.49 | % |  |
Aging of past due loans | The following tables break down delinquent loans by loan category and delinquency bucket.
September 30, 2019 | Amount of Loans |  | Days Delinquent Based on $ Amount of Loans |  | % based on $
Loan type | Net of Loans in Process |  | Current |  | 30 |  | 60 |  | 90 |  | Total |
| (In thousands) |  |
Single-family residential | $ | 5,835,186 |  |  | $ | 5,809,239 |  |  | $ | 3,672 |  |  | $ | 3,211 |  |  | $ | 19,064 |  |  | $ | 25,947 |  |  | 0.44 | %
Construction | 1,164,889 |  |  | 1,164,889 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Construction - custom | 255,505 |  |  | 255,505 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Land - acquisition & development | 161,194 |  |  | 161,194 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Land - consumer lot loans | 99,694 |  |  | 98,916 |  |  | 112 |  |  | 619 |  |  | 47 |  |  | 778 |  |  | 0.78 |
Multi-family | 1,422,652 |  |  | 1,422,652 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial real estate | 1,631,171 |  |  | 1,625,509 |  |  | 1,614 |  |  | 285 |  |  | 3,763 |  |  | 5,662 |  |  | 0.35 |
Commercial & industrial | 1,268,695 |  |  | 1,267,828 |  |  | — |  |  | — |  |  | 867 |  |  | 867 |  |  | 0.07 |
HELOC | 142,178 |  |  | 140,718 |  |  | 580 |  |  | 183 |  |  | 697 |  |  | 1,460 |  |  | 1.03 |
Consumer | 129,883 |  |  | 129,227 |  |  | 295 |  |  | 117 |  |  | 244 |  |  | 656 |  |  | 0.51 |
Total Loans | $ | 12,111,047 |  |  | $ | 12,075,677 |  |  | $ | 6,273 |  |  | $ | 4,415 |  |  | $ | 24,682 |  |  | $ | 35,370 |  |  | 0.29 | %
Delinquency % |  |  | 99.71% |  | 0.05% |  | 0.04% |  | 0.20% |  | 0.29% |  |
September 30, 2018 | Amount of Loans |  | Days Delinquent Based on $ Amount of Loans |  | % based on $
Loan type | Net of Loans in Process |  | Current |  | 30 |  | 60 |  | 90 |  | Total |
| (In thousands) |  |
Single-family residential | $ | 5,798,353 |  |  | $ | 5,768,253 |  |  | $ | 7,983 |  |  | $ | 3,562 |  |  | $ | 18,555 |  |  | $ | 30,100 |  |  | 0.52 | %
Construction | 1,062,855 |  |  | 1,060,428 |  |  | — |  |  | — |  |  | 2,427 |  |  | 2,427 |  |  | 0.23 |
Construction - custom | 289,192 |  |  | 289,192 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Land - acquisition & development | 123,560 |  |  | 122,620 |  |  | — |  |  | 270 |  |  | 670 |  |  | 940 |  |  | 0.76 |
Land - consumer lot loans | 101,908 |  |  | 101,294 |  |  | 144 |  |  | 117 |  |  | 353 |  |  | 614 |  |  | 0.60 |
Multi-family | 1,385,103 |  |  | 1,385,103 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial real estate | 1,452,169 |  |  | 1,448,946 |  |  | 316 |  |  | 1,767 |  |  | 1,140 |  |  | 3,223 |  |  | 0.22 |
Commercial & industrial | 1,140,874 |  |  | 1,130,836 |  |  | — |  |  | — |  |  | 10,038 |  |  | 10,038 |  |  | 0.88 |
HELOC | 130,852 |  |  | 129,510 |  |  | 567 |  |  | 469 |  |  | 306 |  |  | 1,342 |  |  | 1.03 |
Consumer | 173,306 |  |  | 172,777 |  |  | 172 |  |  | 328 |  |  | 29 |  |  | 529 |  |  | 0.31 |
Total Loans | $ | 11,658,172 |  |  | $ | 11,608,959 |  |  | $ | 9,182 |  |  | $ | 6,513 |  |  | $ | 33,518 |  |  | $ | 49,213 |  |  | 0.42 | %
Delinquency % |  |  | 99.58% |  | 0.08% |  | 0.06% |  | 0.29% |  | 0.42% |  |
Schedule of loan modifications | The following table provides information related to loans that were modified in a TDR during the periods presented.
| Twelve Months Ended September 30, 2019 |  | Twelve Months Ended September 30, 2018
|  |  | 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 | 8 |  |  | $ | 1,225 |  |  | $ | 1,225 |  |  | 27 |  |  | $ | 5,070 |  |  | $ | 5,070 |
Land - acquisition & development | — |  |  | — |  |  | — |  |  | 1 |  |  | 107 |  |  | 107 |
Land - consumer lot loans | 1 |  |  | 40 |  |  | 40 |  |  | — |  |  | — |  |  | — |
Commercial real estate | — |  |  | — |  |  | — |  |  | 1 |  |  | 120 |  |  | 120 |
Commercial & industrial | — |  |  | — |  |  | — |  |  | 4 |  |  | 7,739 |  |  | 7,739 |
HELOC | — |  |  | — |  |  | — |  |  | 2 |  |  | 95 |  |  | 95 |
Consumer | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |
| 9 |  |  | $ | 1,265 |  |  | $ | 1,265 |  |  | 36 |  |  | $ | 13,131 |  |  | $ | 13,131 |
The following table provides information on payment defaults occurring during the periods presented where the loan had been modified in a TDR within 12 months of the payment default.
| Twelve Months Ended September 30, 2019 |  | Twelve Months Ended September 30, 2018
| Number of |  | Recorded |  | Number of |  | Recorded
TDRs That Subsequently Defaulted: | Contracts |  | Investment |  | Contracts |  | Investment
| (In thousands) |  | (In thousands)
Single-family residential | 7 |  |  | $ | 1,546 |  |  | 4 |  |  | $ | 433 |
HELOC | — |  |  | — |  |  | 1 |  |  | 77 |
| 7 |  |  | $ | 1,546 |  |  | 5 |  |  | $ | 510 |

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