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Allowance for Loan Losses (Tables)

12 Months Ended

Sep. 30, 2021

Receivables [Abstract]

Summary of activity in allowance for loan losses

The following tables summarize the activity in the allowance for loan losses by loan portfolio segment and class.  

Twelve Months Ended September 30, 2021			Beginning Allowance						Charge-offs						Recoveries						Provision & Transfers						Ending Allowance
			(In thousands)
Commercial loans
Multi-family			$	13,853					$	—					$	—					$	3,096					$	16,949
Commercial real estate			22,516						—						2,789						(1,868)						23,437
Commercial & industrial			38,665						(31)						92						7,231						45,957
Construction - speculative			24,156						—						—						1,429						25,585
Land - acquisition & development			10,733						(2)						622						2,094						13,447
Total commercial loans			109,923						(33)						3,503						11,982						125,375
Consumer loans
Single-family residential			45,186						(106)						2,026						(16,128)						30,978
Construction - custom			3,555						—						—						1,352						4,907
Land - consumer lot loans			2,729						—						168						2,042						4,939
HELOC			2,571						—						52						(233)						2,390
Consumer			2,991						(286)						1,021						(1,015)						2,711
Total consumer loans			57,032						(392)						3,267						(13,982)						45,925
			$	166,955					$	(425)					$	6,770					$	(2,000)					$	171,300

Twelve Months Ended September 30, 2020			Beginning Allowance (Before ASC 326 Adoption)						Impact of ASC 326 Adoption						Charge-offs						Recoveries						Provision & Transfers						Ending Allowance (Before ASC 326 Adoption)
			(In thousands)
Commercial loans
Multi-family			$	7,391					$	3,013					$	—					$	498					$	2,951					$	13,853
Commercial real estate			13,170						(146)						(111)						2,447						7,156						$	22,516
Commercial & industrial			31,450						785						(4,196)						443						10,183						$	38,665
Construction - speculative			32,304						(9,536)						—						188						1,200						$	24,156
Land - acquisition & development			9,155						1,749						(11)						2,070						(2,230)						$	10,733
Total commercial loans			93,470						(4,135)						(4,318)						5,646						19,260						109,923
Consumer loans
Single-family residential			30,988						16,783						(131)						1,394						(3,848)						45,186
Construction - custom			1,369						1,511						—						—						675						3,555
Land - consumer lot loans			2,143						492						(237)						639						(308)						2,729
HELOC			1,103						945						—						95						428						2,571
Consumer			2,461						2,154						(1,069)						1,252						(1,807)						2,991
Total consumer loans			38,064						21,885						(1,437)						3,380						(4,860)						57,032
			$	131,534					$	17,750					$	(5,755)					$	9,026					$	14,400					$	166,955

Summary of loans based on credit quality indicators

The following tables present by credit quality indicator, loan class, and year of origination, the amortized cost basis of loans receivable as of September 30, 2021 and September 30, 2020.

September 30, 2021			Term Loans Amortized Cost Basis by Origination Year
(In thousands)			2021			2020			2019			2018			2017			Prior to 2017			Revolving Loans			Revolving to Term Loans			Total Loans
Commercial loans
Multi-family
Pass			$	796,231		$	479,038		$	220,483		$	205,661		$	217,203		$	287,595		$	46,184		$	—		$	2,252,395
Special Mention			—			1,763			—			3,111			—			—			—			—			4,874
Substandard			—			—			7,548			651			3,703			4,518			—			—			16,420
Total			$	796,231		$	480,801		$	228,031		$	209,423		$	220,906		$	292,113		$	46,184		$	—		$	2,273,689
Commercial real estate
Pass			$	650,457		$	434,117		$	270,174		$	260,344		$	216,564		$	339,374		$	3,109		$	247		$	2,174,386
Special Mention			—			—			4,419			32,931			—			20,275			—			—			57,625
Substandard			—			8,362			71,972			17,290			46,800			51,800			1,097			—			197,321
Total			$	650,457		$	442,479		$	346,565		$	310,565		$	263,364		$	411,449		$	4,206		$	247		$	2,429,332
Commercial & industrial
Pass			$	687,597		$	224,225		$	50,054		$	38,595		$	75,674		$	155,171		$	864,669		$	12,167		$	2,108,152
Special Mention			5,947			3,287			6,302			—			—			—			32,588			—			48,124
Substandard			71			46,695			2,690			4,589			37			17,093			76,217			259			147,651
Total			$	693,615		$	274,207		$	59,046		$	43,184		$	75,711		$	172,264		$	973,474		$	12,426		$	2,303,927
Construction
Pass			$	402,578		$	362,799		$	214,189		$	44,257		$	15,656		$	—		$	76,312		$	—		$	1,115,791
Special Mention			931			—			—			—			—			—			—			—			931
Substandard			—			464			—			—			41			—			—			—			505
Total			$	403,509		$	363,263		$	214,189		$	44,257		$	15,697		$	—		$	76,312		$	—		$	1,117,227
Land - acquisition & development
Pass			$	89,770		$	37,773		$	14,070		$	15,835		$	13,635		$	16,393		$	2,600		$	—		$	190,076
Substandard			—			—			—			—			2,340			—			—			—			2,340
Total			$	89,770		$	37,773		$	14,070		$	15,835		$	15,975		$	16,393		$	2,600		$	—		$	192,416
Total commercial loans
Pass			$	2,626,633		$	1,537,952		$	768,970		$	564,692		$	538,732		$	798,533		$	992,874		$	12,414		$	7,840,800
Special Mention			6,878			5,050			10,721			36,042			—			20,275			32,588			—			111,554
Substandard			71			55,521			82,210			22,530			52,921			73,411			77,314			259			364,237
Total			$	2,633,582		$	1,598,523		$	861,901		$	623,264		$	591,653		$	892,219		$	1,102,776		$	12,673		$	8,316,591

September 30, 2021			Term Loans Amortized Cost Basis by Origination Year
(In thousands)			2021			2020			2019			2018			2017			Prior to 2017			Revolving Loans			Revolving to Term Loans			Total Loans
Consumer loans
Single-family residential
Current			$	1,309,354		$	824,827		$	413,564		$	352,070		$	395,569		$	1,620,365		$	—		$	—		$	4,915,749
30 days past due			3			—			349			59			391			2,825			—			—			3,627
60 days past due			—			—			—			—			—			2,165			—			—			2,165
90+ days past due			—			—			—			115			169			15,239			—			—			15,523
Total			$	1,309,357		$	824,827		$	413,913		$	352,244		$	396,129		$	1,640,594		$	—		$	—		$	4,937,064
Construction - custom
Current			$	204,614		$	139,175		$	2,854		$	1,109		$	—		$	—		$	—		$	—		$	347,752
Total			$	204,614		$	139,175		$	2,854		$	1,109		$	—		$	—		$	—		$	—		$	347,752
Land - consumer lot loans
Current			$	85,342		$	28,415		$	9,012		$	4,454		$	5,404		$	15,325		$	—		$	—		$	147,952
30 days past due			—			—			—			—			—			5			—			—			5
60 days past due			—			142			—			—			—			165			—			—			307
90+ days past due			—			—			—			—			116			154			—			—			270
Total			$	85,342		$	28,557		$	9,012		$	4,454		$	5,520		$	15,649		$	—		$	—		$	148,534
HELOC
Current			$	—		$	—		$	—		$	—		$	—		$	4,764		$	160,183		$	1,680		$	166,627
30 days past due			—			—			—			—			—			31			16			—			47
90+ days past due			—			—			—			—			—			30			236			—			266
Total			$	—		$	—		$	—		$	—		$	—		$	4,825		$	160,435		$	1,680		$	166,940
Consumer
Current			$	12,091		$	8,091		$	606		$	35,228		$	36		$	10,700		$	20,975		$	—		$	87,727
30 days past due			—			—			13			—			54			82			3			—			152
60 days past due			—			—			4			—			—			55			—			—			59
90+ days past due			—			—			35			—			—			16			—			—			51
Total			$	12,091		$	8,091		$	658		$	35,228		$	90		$	10,853		$	20,978		$	—		$	87,989
Total consumer loans
Current			$	1,611,401		$	1,000,508		$	426,036		$	392,861		$	401,009		$	1,651,154		$	181,158		$	1,680		$	5,665,807
30 days past due			3			—			362			59			445			2,943			19			—			3,831
60 days past due			—			142			4			—			—			2,385			—			—			2,531
90+ days past due			—			—			35			115			285			15,439			236			—			16,110
Total			$	1,611,404		$	1,000,650		$	426,437		$	393,035		$	401,739		$	1,671,921		$	181,413		$	1,680		$	5,688,279

September 30, 2020			Term Loans Amortized Cost Basis by Origination Year
(In thousands)			2020			2019			2018			2017			2016			Prior to 2016			Revolving Loans			Revolving to Term Loans			Total Loans
Commercial loans
Multi-family
Pass			$	397,008		$	151,175		$	267,832		$	243,349		$	177,888		$	255,177		$	14,263		$	—		$	1,506,692
Special Mention			649			2,815			907			4,515			2,654			2,181			—			—			13,721
Substandard			—			7,543			3,974			3,791			2,298			221			—			—			17,827
Total			$	397,657		$	161,533		$	272,713		$	251,655		$	182,840		$	257,579		$	14,263		$	—		$	1,538,240
Commercial real estate
Pass			$	425,246		$	243,780		$	259,958		$	265,841		$	182,584		$	301,156		$	2,558		$	107		$	1,681,230
Special Mention			5,096			13,694			3,987			14,910			303			54,194			—			—			92,184
Substandard			4,196			25,607			2,718			38,289			10,041			30,423			—			—			111,274
Total			$	434,538		$	283,081		$	266,663		$	319,040		$	192,928		$	385,773		$	2,558		$	107		$	1,884,688
Commercial & industrial
Pass			$	908,408		$	64,015		$	90,796		$	79,421		$	99,426		$	75,672		$	580,123		$	848		$	1,898,709
Special Mention			25,612			7,107			1,167			4,330			24,204			—			2,275			—			64,695
Substandard			30,894			9,696			10,780			901			23,907			4,561			71,223			147			152,109
Total			$	964,914		$	80,818		$	102,743		$	84,652		$	147,537		$	80,233		$	653,621		$	995		$	2,115,513
Construction
Pass			$	344,346		$	405,030		$	239,125		$	132,034		$	290		$	—		$	66,961		$	—		$	1,187,786
Special Mention			2,275			—			43,486			15,417			—			—			—			—			61,178
Substandard			7			33,457			5,847			21,915			42,224			—			—			—			103,450
Total			$	346,628		$	438,487		$	288,458		$	169,366		$	42,514		$	—		$	66,961		$	—		$	1,352,414
Land - acquisition & development
Pass			$	47,223		$	43,297		$	18,139		$	18,338		$	3,774		$	1,911		$	5,316		$	—		$	137,998
Special Mention			—			—			—			—			—			15,573			—			—			15,573
Total			$	47,223		$	43,297		$	18,139		$	18,338		$	3,774		$	17,484		$	5,316		$	—		$	153,571
Total commercial loans
Pass			$	2,122,231		$	907,297		$	875,850		$	738,983		$	463,962		$	633,916		$	669,221		$	955		$	6,412,415
Special Mention			33,632			23,616			49,547			39,172			27,161			71,948			2,275			—			247,351
Substandard			35,097			76,303			23,319			64,896			78,470			35,205			71,223			147			384,660
Total			$	2,190,960		$	1,007,216		$	948,716		$	843,051		$	569,593		$	741,069		$	742,719		$	1,102		$	7,044,426

September 30, 2020			Term Loans Amortized Cost Basis by Origination Year
(In thousands)			2020			2019			2018			2017			2016			Prior to 2016			Revolving Loans			Revolving to Term Loans			Total Loans
Consumer loans
Single-family residential
Current			$	828,030		$	585,133		$	597,198		$	714,066		$	523,000		$	2,020,181		$	—		$	—		$	5,267,608
30 days past due			—			—			—			859			135			2,928			—			—			3,922
60 days past due			—			—			—			—			—			3,108			—			—			3,108
90+ days past due			—			680			—			440			640			17,564			—			—			19,324
Total			$	828,030		$	585,813		$	597,198		$	715,365		$	523,775		$	2,043,781		$	—		$	—		$	5,293,962
Construction - custom
Current			$	200,853		$	91,940		$	3,160		$	—		$	—		$	—		$	—		$	—		$	295,953
Total			$	200,853		$	91,940		$	3,160		$	—		$	—		$	—		$	—		$	—		$	295,953
Land - consumer lot loans
Current			$	44,908		$	18,139		$	6,971		$	7,693		$	2,619		$	20,699		$	—		$	—		$	101,029
30 days past due			—			—			152			—			—			—			—			—			152
90+ days past due			—			—			—			122			—			91			—			—			213
Total			$	44,908		$	18,139		$	7,123		$	7,815		$	2,619		$	20,790		$	—		$	—		$	101,394
HELOC
Current			$	—		$	—		$	—		$	—		$	—		$	6,732		$	131,353		$	1,406		$	139,491
30 days past due			—			—			—			—			—			44			231			—			275
60 days past due			—			—			—			—			—			37			39			—			76
90+ days past due			—			—			—			—			—			30			350			—			380
Total			$	—		$	—		$	—		$	—		$	—		$	6,843		$	131,973		$	1,406		$	140,222
Consumer
Current			$	1,334		$	1,527		$	58,384		$	129		$	338		$	18,523		$	2,724		$	—		$	82,959
30 days past due			—			—			—			62			—			59			—			—			121
60 days past due			—			—			—			—			—			11			—			—			11
90+ days past due			—			54			—			159			—			6			5			—			224
Total			$	1,334		$	1,581		$	58,384		$	350		$	338		$	18,599		$	2,729		$	—		$	83,315
Total consumer loans
Current			$	1,075,125		$	696,739		$	665,713		$	721,888		$	525,957		$	2,066,135		$	134,077		$	1,406		$	5,887,040
30 days past due			—			—			152			921			135			3,031			231			—			4,470
60 days past due			—			—			—			—			—			3,156			39			—			3,195
90+ days past due			—			734			—			721			640			17,691			355			—			20,141
Total			$	1,075,125		$	697,473		$	665,865		$	723,530		$	526,732		$	2,090,013		$	134,702		$	1,406		$	5,914,846

The following tables provide the amortized cost of loans receivable based on risk rating categories (as previously defined).

September 30, 2021			Internally Assigned Grade
			Pass						Special mention						Substandard						Doubtful						Loss						Total
			(In thousands)
Loan type
Commercial loans
Multi-family			$	2,252,395					$	4,874					$	16,420					$	—					$	—					$	2,273,689
Commercial real estate			2,174,386						57,625						197,321						—						—						2,429,332
Commercial & industrial			2,108,152						48,124						147,651						—						—						2,303,927
Construction - speculative			1,115,791						931						505						—						—						1,117,227
Land - acquisition & development			190,076						—						2,340						—						—						192,416
Total commercial loans			7,840,800						111,554						364,237						—						—						8,316,591
Consumer loans
Single-family residential			4,915,106						—						21,958						—						—						4,937,064
Construction - custom			347,752						—						—						—						—						347,752
Land - consumer lot loans			148,010						—						524						—						—						148,534
HELOC			166,652						—						288						—						—						166,940
Consumer			87,962						—						27						—						—						87,989
Total consumer loans			5,665,482						—						22,797						—						—						5,688,279
Total loans			$	13,506,282					$	111,554					$	387,034					$	—					$	—					$	14,004,870
Total grade as a % of total loans			96.4		%				0.8		%				2.8		%				—		%				—		%

September 30, 2020			Internally Assigned Grade
			Pass						Special mention						Substandard						Doubtful						Loss						Total Gross Loans
			(In thousands)
Loan type
Commercial loans
Multi-family			$	1,506,692					$	13,721					$	17,827					$	—					$	—					$	1,538,240
Commercial real estate			1,681,230						92,184						111,274						—						—						1,884,688
Commercial & industrial			1,898,709						64,695						152,109						—						—						2,115,513
Construction - speculative			1,187,786						61,178						103,450						—						—						1,352,414
Land - acquisition & development			137,998						15,573						—						—						—						153,571
Total commercial loans			6,412,415						247,351						384,660						—						—						7,044,426
Consumer loans
Single-family residential			5,270,666						192						23,104						—						—						5,293,962
Construction - custom			295,953						—						—						—						—						295,953
Land - consumer lot loans			101,151						—						243						—						—						101,394
HELOC			139,646						—						576						—						—						140,222
Consumer			83,304						—						11						—						—						83,315
Total consumer loans			5,890,720						192						23,934						—						—						5,914,846
Total gross loans			$	12,303,135					$	247,543					$	408,594					$	—					$	—					$	12,959,272
Total grade as a % of total gross loans			94.9		%				1.9		%				3.2		%				—		%				—		%

Schedule of gross loans by payment activity

The following tables provide information on amortized cost of loans receivable based on borrower payment activity.

September 30, 2021			Performing Loans												Non-Performing Loans
			Amount						% of Total Loans						Amount						% of Total Loans
			(In thousands)												(In thousands)
Commercial loans
Multi-family			$	2,273,214					100.0		%				$	475					—		%
Commercial real estate			2,421,294						99.7						8,038						0.3
Commercial & industrial			2,303,562						100.0						365						—
Construction - speculative			1,116,722						100.0						505						—
Land - acquisition & development			190,076						98.8						2,340						1.2
Total commercial loans			8,304,868						99.9						11,723						0.1
Consumer loans
Single-family residential			4,917,744						99.6						19,320						0.4
Construction - custom			347,752						100.0						—						—
Land - consumer lot loans			148,175						99.8						359						0.2
HELOC			166,653						99.8						287						0.2
Consumer			87,929						99.9						60						0.1
Total consumer loans			5,668,253						99.6						20,026						0.4
Total			$	13,973,121					99.8		%				$	31,749					0.2		%

September 30, 2020			Performing Loans												Non-Performing Loans
			Amount						% of Total Loans						Amount						% of Total Loans
			(In thousands)												(In thousands)
Commercial loans
Multi-family			$	1,538,240					100.0		%				$	—					—		%
Commercial real estate			1,880,917						99.8						3,771						0.2
Commercial & industrial			2,115,184						100.0						329						—
Construction - speculative			1,350,745						99.9						1,669						0.1
Land - acquisition & development			153,571						100.0						—						—
Total commercial loans			7,038,657						99.9						5,769						0.1
Consumer loans
Single-family residential			5,271,531						99.6						22,431						0.4
Construction - custom			295,953						100.0						—						—
Land - consumer lot loans			101,151						99.8						243						0.2
HELOC			139,669						99.6						553						0.4
Consumer			83,255						99.9						60						0.1
Total consumer loans			5,891,559						99.6						23,287						0.4
Total gross loans			$	12,930,216					99.8		%				$	29,056					0.2		%

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- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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- Definition

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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
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