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Allowance for Losses on Loans | 9 Months Ended
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Jun. 30, 2020
Receivables [Abstract] |
Allowance for Losses on Loans | Allowance for Losses on Loans For a detailed discussion of loans and credit quality, including accounting policies and the CECL methodology used to estimate the allowance for credit losses, see Note A, Summary of Significant Accounting Policies. As a result of the adoption of ASC 326 in the third fiscal quarter, with an effective date of October 1, 2019, there is a lack of comparability in both the allowance and provisions for credit losses for the periods presented. Results for reporting periods beginning after October 1, 2019 are presented using the CECL methodology, while comparative period information continues to be reported in accordance with the incurred loss methodology in effect for prior fiscal years. See Note B, "New Accounting Pronouncements", for details regarding the adoption of ASC 326.
|  |  |  |  | October 1, 2019 |  | December 31, 2019 |  | March 31, 2020 |  | June 30, 2020
(In thousands) |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  |  |  |  |  |  |  |  |  |  |
Multi-family |  |  |  |  | $ | 10,404 |  |  | $ | 10,506 |  |  | $ | 11,742 |  |  | $ | 12,088 |
Commercial real estate |  |  |  |  | 13,024 |  |  | 13,067 |  |  | 14,639 |  |  | 15,807 |
Commercial & industrial |  |  |  |  | 32,235 |  |  | 33,676 |  |  | 38,576 |  |  | 42,179 |
Construction |  |  |  |  | 22,768 |  |  | 21,919 |  |  | 23,348 |  |  | 25,693 |
Land - acquisition & development |  |  |  |  | 10,904 |  |  | 10,413 |  |  | 10,399 |  |  | 10,641 |
Total commercial loans |  |  |  |  | 89,335 |  |  | 89,581 |  |  | 98,704 |  |  | 106,408 |
Consumer loans |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  |  |  |  | 47,771 |  |  | 46,356 |  |  | 46,817 |  |  | 47,149 |
Construction - custom |  |  |  |  | 2,880 |  |  | 2,930 |  |  | 3,175 |  |  | 3,336 |
Land - consumer lot loans |  |  |  |  | 2,635 |  |  | 2,567 |  |  | 2,578 |  |  | 2,671 |
HELOC |  |  |  |  | 2,048 |  |  | 2,034 |  |  | 2,246 |  |  | 2,588 |
Consumer |  |  |  |  | 4,615 |  |  | 4,045 |  |  | 3,581 |  |  | 3,197 |
Total consumer loans |  |  |  |  | 59,949 |  |  | 57,932 |  |  | 58,397 |  |  | 58,941 |
Total allowance for loan losses |  |  |  |  | 149,284 |  |  | 147,513 |  |  | 157,101 |  |  | 165,349 |
Reserve for unfunded commitments |  |  |  |  | 17,650 |  |  | 18,250 |  |  | 18,650 |  |  | 19,500 |
Total allowance for credit losses |  |  |  |  | $ | 166,934 |  |  | $ | 165,763 |  |  | $ | 175,751 |  |  | $ | 184,849 |
Beginning balance |  |  |  |  |  |  | $ | 166,934 |  |  | $ | 165,763 |  |  | $ | 175,751 |
Net (charge-offs) recoveries |  |  |  |  |  |  | 2,579 |  |  | 1,788 |  |  | (1,702) |
Net provision (release) |  |  |  |  |  |  | (3,750) |  |  | 8,200 |  |  | 10,800 |
Ending balance |  |  |  |  |  |  | $ | 165,763 |  |  | $ | 175,751 |  |  | $ | 184,849 |
The following tables summarize the activity in the allowance for loan losses by loan portfolio segment and class.
Three Months Ended June 30, 2020 | Beginning Allowance (After ASC 326 Adoption) |  | Charge-offs |  | Recoveries |  | Provision & Transfers |  | Ending Allowance (After ASC 326 Adoption)
| (In thousands) |  |  |  |  |  |  |  |
Commercial loans |  |  |  |  |  |  |  |  |
Multi-family | $ | 11,742 |  |  | $ | — |  |  | $ | — |  |  | $ | 346 |  |  | $ | 12,088 |
Commercial real estate | 14,639 |  |  | — |  |  | 193 |  |  | 975 |  |  | 15,807 |
Commercial & industrial | 38,576 |  |  | (3,034) |  |  | 174 |  |  | 6,463 |  |  | 42,179 |
Construction | 23,348 |  |  | — |  |  | — |  |  | 2,345 |  |  | 25,693 |
Land - acquisition & development | 10,399 |  |  | — |  |  | 433 |  |  | (191) |  |  | 10,641 |
Total commercial loans | 98,704 |  |  | (3,034) |  |  | 800 |  |  | 9,938 |  |  | 106,408 |
Consumer loans |  |  |  |  |  |  |  |  |
Single-family residential | 46,817 |  |  | (60) |  |  | 437 |  |  | (45) |  |  | 47,149 |
Construction - custom | 3,175 |  |  | — |  |  | — |  |  | 161 |  |  | 3,336 |
Land - consumer lot loans | 2,578 |  |  | — |  |  | 17 |  |  | 76 |  |  | 2,671 |
HELOC | 2,246 |  |  | — |  |  | 1 |  |  | 341 |  |  | 2,588 |
Consumer | 3,581 |  |  | (233) |  |  | 370 |  |  | (521) |  |  | 3,197 |
Total consumer loans | 58,397 |  |  | (293) |  |  | 825 |  |  | 12 |  |  | 58,941 |
Total loans | $ | 157,101 |  |  | $ | (3,327) |  |  | $ | 1,625 |  |  | $ | 9,950 |  |  | $ | 165,349 |
Three Months Ended June 30, 2019 | Beginning Allowance (Before ASC 326 Adoption) |  | Charge-offs |  | Recoveries |  | Provision & Transfers |  | Ending Allowance (Before ASC 326 Adoption)
| (In thousands) |  |  |  |  |  |  |  |
Commercial loans |  |  |  |  |  |  |  |  |
Multi-family | $ | 7,394 |  |  | $ | — |  |  | $ | — |  |  | $ | (111) |  |  | $ | 7,283 |
Commercial real estate | 12,448 |  |  | — |  |  | 90 |  |  | 466 |  |  | 13,004 |
Commercial & industrial | 30,574 |  |  | (4,034) |  |  | 3,218 |  |  | 1,313 |  |  | 31,071 |
Construction | 33,396 |  |  | — |  |  | — |  |  | 661 |  |  | 34,057 |
Land - acquisition & development | 9,734 |  |  | (65) |  |  | 2,025 |  |  | (2,306) |  |  | 9,388 |
Total commercial loans | 93,546 |  |  | (4,099) |  |  | 5,333 |  |  | 23 |  |  | 94,803 |
Consumer loans |  |  |  |  |  |  |  |  |
Single-family residential | 31,476 |  |  | (65) |  |  | 47 |  |  | 56 |  |  | 31,514 |
Construction - custom | 1,976 |  |  | (339) |  |  | — |  |  | 247 |  |  | 1,884 |
Land - consumer lot loans | 2,076 |  |  | (215) |  |  | — |  |  | 171 |  |  | 2,032 |
HELOC | 1,082 |  |  | — |  |  | 1 |  |  | 4 |  |  | 1,087 |
Consumer | 2,930 |  |  | (34) |  |  | 307 |  |  | (501) |  |  | 2,702 |
Total consumer loans | 39,540 |  |  | (653) |  |  | 355 |  |  | (23) |  |  | 39,219 |
Total loans | $ | 133,086 |  |  | $ | (4,752) |  |  | $ | 5,688 |  |  | $ | — |  |  | $ | 134,022 |
Nine Months Ended June 30, 2020 | Beginning Allowance (Before ASC 326 Adoption) |  | Impact of ASC 326 Adoption |  | Charge-offs |  | Recoveries |  | Provision & Transfers |  | Ending Allowance (After ASC 326 Adoption)
| (In thousands) |  |  |  |  |  |  |  |  |  |
Commercial loans |  |  |  |  |  |  |  |  |  |  |
Multi-family | $ | 7,391 |  |  | $ | 3,013 |  |  | $ | — |  |  | $ | 498 |  |  | $ | 1,186 |  |  | $ | 12,088 |
Commercial real estate | 13,170 |  |  | (146) |  |  | (111) |  |  | 1,581 |  |  | 1,313 |  |  | 15,807 |
Commercial & industrial | 31,450 |  |  | 785 |  |  | (3,213) |  |  | 375 |  |  | 12,782 |  |  | 42,179 |
Construction | 32,304 |  |  | (9,536) |  |  | — |  |  | 59 |  |  | 2,866 |  |  | 25,693 |
Land - acquisition & development | 9,155 |  |  | 1,749 |  |  | (11) |  |  | 2,019 |  |  | (2,271) |  |  | 10,641 |
Total commercial loans | 93,470 |  |  | (4,135) |  |  | (3,335) |  |  | 4,532 |  |  | 15,876 |  |  | 106,408 |
Consumer loans |  |  |  |  |  |  |  |  |  |  |
Single-family residential | 30,988 |  |  | 16,783 |  |  | (75) |  |  | 891 |  |  | (1,438) |  |  | 47,149 |
Construction - custom | 1,369 |  |  | 1,511 |  |  | — |  |  | — |  |  | 456 |  |  | 3,336 |
Land - consumer lot loans | 2,143 |  |  | 492 |  |  | (147) |  |  | 503 |  |  | (320) |  |  | 2,671 |
HELOC | 1,103 |  |  | 945 |  |  | — |  |  | 95 |  |  | 445 |  |  | 2,588 |
Consumer | 2,461 |  |  | 2,154 |  |  | (838) |  |  | 1,039 |  |  | (1,619) |  |  | 3,197 |
Total consumer loans | 38,064 |  |  | 21,885 |  |  | (1,060) |  |  | 2,528 |  |  | (2,476) |  |  | 58,941 |
Total loans | $ | 131,534 |  |  | $ | 17,750 |  |  | $ | (4,395) |  |  | $ | 7,060 |  |  | $ | 13,400 |  |  | $ | 165,349 |
Nine Months Ended June 30, 2019 | Beginning Allowance (Before ASC 326 Adoption) |  | Charge-offs |  | Recoveries |  | Provision & Transfers |  | Ending Allowance (Before ASC 326 Adoption)
| (In thousands) |  |  |  |  |  |  |  |
Commercial loans |  |  |  |  |  |  |  |  |
Multi-family | $ | 8,329 |  |  | $ | — |  |  | $ | — |  |  | $ | (1,046) |  |  | $ | 7,283 |
Commercial real estate | 11,852 |  |  | (339) |  |  | 860 |  |  | 631 |  |  | 13,004 |
Commercial & industrial | 28,702 |  |  | (4,499) |  |  | 3,276 |  |  | 3,592 |  |  | 31,071 |
Construction | 31,317 |  |  | — |  |  | — |  |  | 2,740 |  |  | 34,057 |
Land - acquisition & development | 7,978 |  |  | (65) |  |  | 5,107 |  |  | (3,632) |  |  | 9,388 |
Total commercial loans | 88,178 |  |  | (4,903) |  |  | 9,243 |  |  | 2,285 |  |  | 94,803 |
Consumer loans |  |  |  |  |  |  |  |  |
Single-family residential | 33,033 |  |  | (238) |  |  | 586 |  |  | (1,867) |  |  | 31,514 |
Construction - custom | 1,842 |  |  | (339) |  |  | — |  |  | 381 |  |  | 1,884 |
Land - consumer lot loans | 2,164 |  |  | (336) |  |  | 265 |  |  | (61) |  |  | 2,032 |
HELOC | 781 |  |  | (1,086) |  |  | 45 |  |  | 1,347 |  |  | 1,087 |
Consumer | 3,259 |  |  | (506) |  |  | 784 |  |  | (835) |  |  | 2,702 |
Total consumer loans | 41,079 |  |  | (2,505) |  |  | 1,680 |  |  | (1,035) |  |  | 39,219 |
Total loans | $ | 129,257 |  |  | $ | (7,408) |  |  | $ | 10,923 |  |  | $ | 1,250 |  |  | $ | 134,022 |
Primarily due to the continued economic distress caused by the COVID-19 pandemic, the Company recorded a $10,800,000 provision for credit losses for the three months ended June 30, 2020, compared with no provision being recorded for the three months ended June 30, 2019. A provision for credit losses of $15,250,000 and $250,000 was recorded during the nine months ended June 30, 2020 and June 30, 2019, respectively. The relatively significant credit loss provisions for the three months ended and nine months ended June 30, 2020 are due to COVID-19 related factors including estimated impacts to the energy, hospitality, restaurant and senior living industries. Charge-offs, net of recoveries, totaled $1,702,000 for the three months ended June 30, 2020, compared to net recoveries of $936,000 during the three months ended June 30, 2019. Recoveries, net of charge-offs, totaled $2,665,000 for the nine months ended June 30, 2020, compared to net recoveries of $3,515,000 during the nine months ended June 30, 2019. No allowance was recorded as of June 30, 2020 for the $758,955,000 of PPP loans, which are included in the commercial & industrial loan category, due to the government guarantee. Non-performing assets were $44,630,000, or 0.25% of total assets, at June 30, 2020, compared to $43,826,000, or 0.27% of total assets, at September 30, 2019. Non-accrual loans were $35,001,000 at June 30, 2020, compared to $33,731,000 at September 30, 2019. Delinquencies, as a percent of total loans, were 0.32% at June 30, 2020, compared to 0.29% at September 30, 2019. The following table shows loans collectively and individually evaluated for impairment and the related allocation of general and specific reserves.
September 30, 2019 | 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, except ratio data) |  |  |  |  |  | (In thousands, except ratio data) |  |  |  |
Commercial loans |  |  |  |  |  |  |  |  |  |  |
Multi-family | $ | 7,387 |  |  | $ | 1,422,266 |  |  | 0.5 | % |  | $ | 4 |  |  | $ | 385 |  |  | 1.0 | %
Commercial real estate | 12,847 |  |  | 1,618,406 |  |  | 0.8 |  |  | 323 |  |  | 12,765 |  |  | 2.5 |
Commercial & industrial | 31,358 |  |  | 1,266,913 |  |  | 2.5 |  |  | 92 |  |  | 1,805 |  |  | 5.1 |
Construction | 32,304 |  |  | 1,164,889 |  |  | 2.8 |  |  | — |  |  | — |  |  | — |
Land - acquisition & development | 9,135 |  |  | 160,964 |  |  | 5.7 |  |  | 20 |  |  | 230 |  |  | 8.7 |
Total commercial loans | 93,031 |  |  | 5,633,438 |  |  | 1.7 |  |  | 439 |  |  | 15,185 |  |  | 2.9 |
Consumer loans |  |  |  |  |  |  |  |  |  |  |
Single-family residential | 30,988 |  |  | 5,822,200 |  |  | 0.5 |  |  | — |  |  | 17,978 |  |  | — |
Construction - custom | 1,369 |  |  | 255,505 |  |  | 0.5 |  |  | — |  |  | — |  |  | — |
Land - consumer lot loans | 2,143 |  |  | 95,574 |  |  | 2.2 |  |  | — |  |  | 375 |  |  | — |
HELOC | 1,103 |  |  | 140,378 |  |  | 0.8 |  |  | — |  |  | 837 |  |  | 0.0 |
Consumer | 2,461 |  |  | 129,527 |  |  | 1.9 |  |  | — |  |  | 50 |  |  | 0.0 |
Total consumer loans | 38,064 |  |  | 6,443,184 |  |  | 0.6 |  |  | — |  |  | 19,240 |  |  | — |
Total loans | $ | 131,095 |  |  | $ | 12,076,622 |  |  | 1.1 | % |  | $ | 439 |  |  | $ | 34,425 |  |  | 1.3 | %
The Company has an asset quality review function that analyzes its loan portfolio and reports the results of the review to its Board of Directors on a quarterly basis. The single-family residential, HELOC and consumer portfolios are evaluated based on their performance as a pool of loans, since no single loan is individually significant or judged by its risk rating, size or potential risk of loss. The construction, land, multi-family, commercial real estate and commercial and industrial loans are risk rated on a loan by loan basis to determine the relative risk inherent in specific borrowers or loans. Based on that risk rating, the loans are assigned a grade and classified as described in Note D "Loans Receivable." The following table provides the amortized cost of loans receivable based on risk rating categories as previously defined.
June 30, 2020 | Internally Assigned Grade |  |  |  |  |  |  |  |  |  |
| Pass |  | Special mention |  | Substandard |  | Doubtful |  | Loss |  | Total
| (In thousands, except ratio data) |  |  |  |  |  |  |  |  |  |
Loan type |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  |  |  |  |  |  |  |  |  |  |
Multi-family | $ | 1,478,551 |  |  | $ | 13,749 |  |  | $ | 17,537 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,509,837 |
Commercial real estate | 1,513,394 |  |  | 117,753 |  |  | 69,421 |  |  | — |  |  | — |  |  | 1,700,568 |
Commercial & industrial | 1,941,389 |  |  | 59,747 |  |  | 136,344 |  |  | 982 |  |  | — |  |  | 2,138,462 |
Construction | 1,217,628 |  |  | 91,519 |  |  | 25,801 |  |  | — |  |  | — |  |  | 1,334,948 |
Land - acquisition & development | 134,243 |  |  | 15,573 |  |  | 2,418 |  |  | — |  |  | — |  |  | 152,234 |
Total commercial loans | 6,285,205 |  |  | 298,341 |  |  | 251,521 |  |  | 982 |  |  | — |  |  | 6,836,049 |
Consumer loans |  |  |  |  |  |  |  |  |  |  |
Single-family residential | 5,426,365 |  |  | — |  |  | 26,059 |  |  | — |  |  | — |  |  | 5,452,424 |
Construction - custom | 278,182 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 278,182 |
Land - consumer lot loans | 98,976 |  |  | — |  |  | 279 |  |  | — |  |  | — |  |  | 99,255 |
HELOC | 138,695 |  |  | — |  |  | 2,470 |  |  | — |  |  | — |  |  | 141,165 |
Consumer | 91,685 |  |  | — |  |  | 15 |  |  | — |  |  | — |  |  | 91,700 |
Total consumer loans | 6,033,903 |  |  | — |  |  | 28,823 |  |  | — |  |  | — |  |  | 6,062,726 |
Total | $ | 12,319,108 |  |  | $ | 298,341 |  |  | $ | 280,344 |  |  | $ | 982 |  |  | $ | — |  |  | $ | 12,898,775 |
Total grade as a % of total loans | 95.51 | % |  | 2.31 | % |  | 2.17 | % |  | 0.01 | % |  | — | % |  |
The following table provides gross loans receivable based on risk rating categories as previously defined.
September 30, 2019 | Internally Assigned Grade |  |  |  |  |  |  |  |  |  |
| Pass |  | Special mention |  | Substandard |  | Doubtful |  | Loss |  | Total Gross Loans
| (In thousands, except ratio data) |  |  |  |  |  |  |  |  |  |
Loan type |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  |  |  |  |  |  |  |  |  |  |
Multi-family | $ | 1,418,837 |  |  | $ | — |  |  | $ | 3,837 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,422,674 |
Commercial real estate | 1,602,634 |  |  | 2,754 |  |  | 25,782 |  |  | — |  |  | — |  |  | 1,631,170 |
Commercial & industrial | 1,229,891 |  |  | 18,125 |  |  | 20,679 |  |  | — |  |  | — |  |  | 1,268,695 |
Construction | 2,038,052 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,038,052 |
Land - acquisition & development | 200,283 |  |  | — |  |  | 3,824 |  |  | — |  |  | — |  |  | 204,107 |
Total commercial loans | 6,489,697 |  |  | 20,879 |  |  | 54,122 |  |  | — |  |  | — |  |  | 6,564,698 |
Consumer loans |  |  |  |  |  |  |  |  |  |  |
Single-family residential | 5,808,444 |  |  | — |  |  | 26,750 |  |  | — |  |  | — |  |  | 5,835,194 |
Construction - custom | 540,741 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 540,741 |
Land - consumer lot loans | 98,828 |  |  | — |  |  | 866 |  |  | — |  |  | — |  |  | 99,694 |
HELOC | 141,271 |  |  | — |  |  | 907 |  |  | — |  |  | — |  |  | 142,178 |
Consumer | 129,872 |  |  | — |  |  | 11 |  |  | — |  |  | — |  |  | 129,883 |
Total consumer loans | 6,719,156 |  |  | — |  |  | 28,534 |  |  | — |  |  | — |  |  | 6,747,690 |
Total gross loans | $ | 13,208,853 |  |  | $ | 20,879 |  |  | $ | 82,656 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,312,388 |
Total grade as a % of total gross loans | 99.22 | % |  | 0.16 | % |  | 0.62 | % |  | — | % |  | — | % |  |
The following table provides information on amortized cost of loans receivable based on borrower payment activity.
June 30, 2020 | Performing Loans |  |  |  | Non-Performing Loans |  |
| Amount |  | % of Total Loans |  | Amount |  | % of Total Loans
| (In thousands, except ratio data) |  |  |  |  |  |
Commercial loans |  |  |  |  |  |  |
Multi-family | $ | 1,509,613 |  |  | 100.0 | % |  | $ | 224 |  |  | — | %
Commercial real estate | 1,697,152 |  |  | 99.8 |  |  | 3,416 |  |  | 0.2 |
Commercial & industrial | 2,136,615 |  |  | 99.9 |  |  | 1,847 |  |  | 0.1 |
Construction | 1,331,595 |  |  | 99.7 |  |  | 3,353 |  |  | 0.3 |
Land - acquisition & development | 152,156 |  |  | 99.9 |  |  | 78 |  |  | 0.1 |
Total commercial loans | 6,827,131 |  |  | 99.9 |  |  | 8,918 |  |  | 0.1 |
Consumer loans |  |  |  |  |  |  |
Single-family residential | 5,427,548 |  |  | 99.5 |  |  | 24,876 |  |  | 0.5 |
Construction - custom | 278,182 |  |  | 100.0 |  |  | — |  |  | — |
Land - consumer lot loans | 98,978 |  |  | 99.7 |  |  | 277 |  |  | 0.3 |
HELOC | 140,299 |  |  | 99.4 |  |  | 866 |  |  | 0.6 |
Consumer | 91,636 |  |  | 99.9 |  |  | 64 |  |  | 0.1 |
Total consumer loans | 6,036,643 |  |  | 99.6 |  |  | 26,083 |  |  | 0.4 |
Total loans | $ | 12,863,774 |  |  | 99.7 | % |  | $ | 35,001 |  |  | 0.3 | %
The following table provides information on gross loans based on borrower payment activity.
September 30, 2019 | Performing Loans |  |  |  | Non-Performing Loans |  |
| Amount |  | % of Total Gross Loans |  | Amount |  | % of Total Gross Loans
| (In thousands, except ratio data) |  |  |  |  |  |
Multi-family | $ | 1,422,674 |  |  | 100.0 | % |  | $ | — |  |  | — | %
Commercial real estate | 1,625,335 |  |  | 99.6 |  |  | 5,835 |  |  | 0.4 |
Commercial & industrial | 1,267,403 |  |  | 99.9 |  |  | 1,292 |  |  | 0.1 |
Construction | 2,038,052 |  |  | 100.0 |  |  | — |  |  | — |
Land - acquisition & development | 203,938 |  |  | 99.9 |  |  | 169 |  |  | 0.1 |
Single-family residential | 5,809,923 |  |  | 99.6 |  |  | 25,271 |  |  | 0.4 |
Construction - custom | 540,741 |  |  | 100.0 |  |  | — |  |  | — |
Land - consumer lot loans | 99,448 |  |  | 99.8 |  |  | 246 |  |  | 0.2 |
HELOC | 141,271 |  |  | 99.4 |  |  | 907 |  |  | 0.6 |
Consumer | 129,872 |  |  | 100.0 |  |  | 11 |  |  | 0.0 |
Total loans | $ | 13,278,657 |  |  | 99.7 | % |  | $ | 33,731 |  |  | 0.3 | %
The following table provide information on impaired loan balances and the related allowances by loan types.
September 30, 2019 | Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment (Year-To-Date)
| (In thousands) |  |  |  |  |  |
Impaired loans with no related allowance recorded: |  |  |  |  |  |  |
Multi-family | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 286 |
Commercial real estate | 7,467 |  |  | 11,881 |  |  | — |  |  | 8,890 |
Commercial & industrial | 1,114 |  |  | 5,312 |  |  | — |  |  | 7,168 |
Construction | — |  |  | — |  |  | — |  |  | 1,172 |
Land - acquisition & development | 78 |  |  | 143 |  |  | — |  |  | 290 |
Single-family residential | 17,979 |  |  | 19,252 |  |  | — |  |  | 16,685 |
Construction - custom | — |  |  | — |  |  | — |  |  | 251 |
Land - consumer lot loans | 344 |  |  | 848 |  |  | — |  |  | 287 |
HELOC | 837 |  |  | 931 |  |  | — |  |  | 597 |
Consumer | 50 |  |  | 119 |  |  | — |  |  | 23 |
Total loans with no related allowance | 27,869 |  |  | 38,486 |  |  | — |  |  | 35,649 |
Impaired loans with an allowance recorded: |  |  |  |  |  |  |
Multi-family | 385 |  |  | 385 |  |  | 4 |  |  | 418 |
Commercial real estate | 4,168 |  |  | 5,298 |  |  | 323 |  |  | 5,160 |
Commercial & industrial | 426 |  |  | 691 |  |  | 92 |  |  | 2,535 |
Construction | — |  |  | — |  |  | — |  |  | — |
Land - acquisition & development | 91 |  |  | 152 |  |  | — |  |  | 99 |
Single-family residential | 112,042 |  |  | 114,609 |  |  | 2,208 |  |  | 125,976 |
Construction - custom | — |  |  | — |  |  | — |  |  | — |
Land - consumer lot loans | 3,556 |  |  | 3,695 |  |  | 20 |  |  | 4,324 |
HELOC | 949 |  |  | 963 |  |  | — |  |  | 961 |
Consumer | 60 |  |  | 282 |  |  | — |  |  | 65 |
Total loans with an allowance | 121,677 |  |  | 126,075 |  |  | 2,647 |  | (1) | 139,538 |
Total impaired loans: |  |  |  |  |  |  |
Multi-family | 385 |  |  | 385 |  |  | 4 |  |  | 704 |
Commercial real estate | 11,635 |  |  | 17,179 |  |  | 323 |  |  | 14,050 |
Commercial & industrial | 1,540 |  |  | 6,003 |  |  | 92 |  |  | 9,703 |
Construction | — |  |  | — |  |  | — |  |  | 1,172 |
Land - acquisition & development | 169 |  |  | 295 |  |  | — |  |  | 389 |
Single-family residential | 130,021 |  |  | 133,861 |  |  | 2,208 |  |  | 142,661 |
Construction - custom | — |  |  | — |  |  | — |  |  | 251 |
Land - consumer lot loans | 3,900 |  |  | 4,543 |  |  | 20 |  |  | 4,611 |
HELOC | 1,786 |  |  | 1,894 |  |  | — |  |  | 1,558 |
Consumer | 110 |  |  | 401 |  |  | — |  |  | 88 |
Total impaired loans | $ | 149,546 |  |  | $ | 164,561 |  |  | $ | 2,647 |  | (1) | $ | 175,187 |
(1)Includes $439,000 of specific reserves and $2,208,000 included in the general reserves.

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI http://asc.fasb.org/topic&trid=2196771 + Details
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