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Allowance for Losses on Loans (Tables)

3 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Allowance for Credit Losses by Loan Portfolio Segment and Class

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

Three Months Ended December 31, 2021			Beginning Allowance						Charge-offs						Recoveries						Provision & Transfers (1)						Ending Allowance
			(In thousands)
Commercial loans
Multi-family			$	16,949					$	—					$	—					$	(956)					$	15,993
Commercial real estate			23,437						(529)						44						2,770						25,722
Commercial & industrial			45,957						(43)						62						1,255						47,231
Construction			25,585						—						2,000						(2,819)						24,766
Land - acquisition & development			13,447						(2)						20						660						14,125
Total commercial loans			125,375						(574)						2,126						910						127,837
Consumer loans
Single-family residential			30,978						—						405						(1,277)						30,106
Construction - custom			4,907						—						—						(1,188)						3,719
Land - consumer lot loans			4,939						(27)						5						67						4,984
HELOC			2,390						—						1						(26)						2,365
Consumer			2,711						(76)						251						(486)						2,400
Total consumer loans			45,925						(103)						662						(2,910)						43,574
Total loans			$	171,300					$	(677)					$	2,788					$	(2,000)					$	171,411

(1) Provision & transfer amounts within the table do not include the provision for unfunded commitments of $2,500,000.

Three Months Ended December 31, 2020			Beginning Allowance						Charge-offs						Recoveries						Provision & Transfers (1)						Ending Allowance
			(In thousands)
Commercial loans
Multi-family			$	13,853					$	—					$	—					$	510					$	14,363
Commercial real estate			22,516						—						789						191						23,496
Commercial & industrial			38,665						(2)						50						5,604						44,317
Construction			24,156						—						—						2,209						26,365
Land - acquisition & development			10,733						—						35						(102)						10,666
Total commercial loans			109,923						(2)						874						8,412						119,207
Consumer loans
Single-family residential			45,186						—						779						(7,352)						38,613
Construction - custom			3,555						—						—						39						3,594
Land - consumer lot loans			2,729						—						7						222						2,958
HELOC			2,571						—						—						(209)						2,362
Consumer			2,991						(150)						226						388						3,455
Total consumer loans			57,032						(150)						1,012						(6,912)						50,982
Total loans			$	166,955					$	(152)					$	1,886					$	1,500					$	170,189

(1) Provision & transfer amounts within the table do not include the provision for unfunded commitments of $1,500,000.

Summary of Loans Based on Credit Quality Indicators

The following tables present by primary credit quality indicator, loan class, and year of origination, the amortized cost basis of loans receivable as of December 31, 2021.

			Term Loans Amortized Cost Basis by Origination Year
			YTD 2022			2021			2020			2019			2018			Prior to 2018			Revolving Loans			Revolving to Term Loans			Total Loans
Commercial loans
Multi-family
Pass			$	188,312		$	774,664		$	461,598		$	145,568		$	197,475		$	466,643		$	36,205		$	—		$	2,270,465
Special Mention			—			—			1,754			—			3,098			—			—			—			4,852
Substandard			—			—			—			—			650			2,249			—			—			2,899
Total			$	188,312		$	774,664		$	463,352		$	145,568		$	201,223		$	468,892		$	36,205		$	—		$	2,278,216
Commercial real estate
Pass			$	315,441		$	644,455		$	403,955		$	273,743		$	257,052		$	591,343		$	3,075		$	—		$	2,489,064
Special Mention			—			—			—			5,308			32,941			19,800			—			—			58,049
Substandard			—			—			8,308			44,362			17,171			49,124			1,092			—			120,057
Total			$	315,441		$	644,455		$	412,263		$	323,413		$	307,164		$	660,267		$	4,167		$	—		$	2,667,170
Commercial & industrial
Pass			$	96,846		$	617,826		$	179,111		$	46,636		$	32,369		$	233,105		$	954,157		$	97		$	2,160,147
Special Mention			744			13,881			2,782			5,972			—			6			37,377			—			60,762
Substandard			—			69			46,474			2,356			4,532			14,972			76,175			—			144,578
Total			$	97,590		$	631,776		$	228,367		$	54,964		$	36,901		$	248,083		$	1,067,709		$	97		$	2,365,487
Construction
Pass			$	68,058		$	494,383		$	352,324		$	232,534		$	374		$	16,313		$	69,957		$	—		$	1,233,943
Special Mention			—			566			—			—			—			—			—			—			566
Substandard			—			—			610			—			—			—			—			—			610
Total			$	68,058		$	494,949		$	352,934		$	232,534		$	374		$	16,313		$	69,957		$	—		$	1,235,119
Land - acquisition & development
Pass			$	31,257		$	80,472		$	30,263		$	11,800		$	13,730		$	29,619		$	2,600		$	—		$	199,741
Substandard			—			—			—			—			—			2,340			—			—			2,340
Total			$	31,257		$	80,472		$	30,263		$	11,800		$	13,730		$	31,959		$	2,600		$	—		$	202,081
Total commercial loans
Pass			$	699,914		$	2,611,800		$	1,427,251		$	710,281		$	501,000		$	1,337,023		$	1,065,994		$	97		$	8,353,360
Special Mention			744			14,447			4,536			11,280			36,039			19,806			37,377			—			124,229
Substandard			—			69			55,392			46,718			22,353			68,685			77,267			—			270,484
Total			$	700,658		$	2,626,316		$	1,487,179		$	768,279		$	559,392		$	1,425,514		$	1,180,638		$	97		$	8,748,073

			Term Loans Amortized Cost Basis by Origination Year
			YTD 2022			2021			2020			2019			2018			Prior to 2018			Revolving Loans			Revolving to Term Loans			Total Loans
Consumer loans
Single-family residential
Current			$	686,288		$	1,222,748		$	805,399		$	381,245		$	320,431		$	1,850,032		$	—		$	—		$	5,266,143
30 days past due			735			—			—			—			—			4,364			—			—			5,099
60 days past due			—			—			—			—			—			1,088			—			—			1,088
90+ days past due			—			—			—			348			114			13,767			—			—			14,229
Total			$	687,023		$	1,222,748		$	805,399		$	381,593		$	320,545		$	1,869,251		$	—		$	—		$	5,286,559
Construction - custom
Current			$	10,516		$	251,800		$	68,238		$	1,928		$	636		$	—		$	—		$	—		$	333,118
90+ days past due			—			—			465			—			—			—			—			—			465
Total			$	10,516		$	251,800		$	68,703		$	1,928		$	636		$	—		$	—		$	—		$	333,583
Land - consumer lot loans
Current			$	18,436		$	77,593		$	23,409		$	7,629		$	4,062		$	18,064		$	—		$	—		$	149,193
30 days past due			—			—			52			—			—			—			—			—			52
60 days past due			—			—			—			75			—			—			—			—			75
90+ days past due			—			—			142			—			—			383			—			—			525
Total			$	18,436		$	77,593		$	23,603		$	7,704		$	4,062		$	18,447		$	—		$	—		$	149,845
HELOC
Current			$	—		$	—		$	—		$	—		$	—		$	5,378		$	161,644		$	251		$	167,273
30 days past due			—			—			—			—			—			214			38			9			261
90+ days past due			—			—			—			—			—			30			225			—			255
Total			$	—		$	—		$	—		$	—		$	—		$	5,622		$	161,907		$	260		$	167,789
Consumer
Current			$	100		$	10,435		$	8,082		$	488		$	31,853		$	9,374		$	17,198		$	—		$	77,530
30 days past due			—			—			—			10			—			55			4			—			69
60 days past due			—			—			—			4			—			110			—			—			114
90+ days past due			—			—			—			34			—			17			—			—			51
Total			$	100		$	10,435		$	8,082		$	536		$	31,853		$	9,556		$	17,202		$	—		$	77,764
Total consumer loans
Current			$	715,340		$	1,562,576		$	905,128		$	391,290		$	356,982		$	1,882,848		$	178,842		$	251		$	5,993,257
30 days past due			735			—			52			10			—			4,633			42			9			5,481
60 days past due			—			—			—			79			—			1,198			—			—			1,277
90+ days past due			—			—			607			382			114			14,197			225			—			15,525
Total			$	716,075		$	1,562,576		$	905,787		$	391,761		$	357,096		$	1,902,876		$	179,109		$	260		$	6,015,540

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

December 31, 2021			Internally Assigned Grade
			Pass						Special mention						Substandard						Doubtful						Loss						Total
			(In thousands, except ratio data)
Loan type
Commercial loans
Multi-family			$	2,270,465					$	4,852					$	2,899					$	—					$	—					$	2,278,216
Commercial real estate			2,489,064						58,049						120,057						—						—						2,667,170
Commercial & industrial			2,160,147						60,762						144,578						—						—						2,365,487
Construction			1,233,943						566						610						—						—						1,235,119
Land - acquisition & development			199,741						—						2,340						—						—						202,081
Total commercial loans			8,353,360						124,229						270,484						—						—						8,748,073
Consumer loans
Single-family residential			5,265,363						—						21,196						—						—						5,286,559
Construction - custom			333,118						—						465						—						—						333,583
Land - consumer lot loans			149,225						—						620						—						—						149,845
HELOC			167,513						—						276						—						—						167,789
Consumer			77,752						1						11						—						—						77,764
Total consumer loans			5,992,971						1						22,568						—						—						6,015,540
Total			$	14,346,331					$	124,230					$	293,052					$	—					$	—					$	14,763,613
Total grade as a % of total loans			97.17		%				0.84		%				1.99		%				—		%				—		%

September 30, 2021			Internally Assigned Grade
			Pass						Special mention						Substandard						Doubtful						Loss						Total Gross Loans
			(In thousands, except ratio data)
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			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 gross loans			96.44		%				0.80		%				2.76		%				—		%				—		%

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

December 31, 2021			Performing Loans												Non-Performing Loans
			Amount						% of Total Loans						Amount						% of Total Loans
			(In thousands, except ratio data)
Commercial loans
Multi-family			$	2,278,216					100.0		%				$	—					—		%
Commercial real estate			2,659,605						99.7						7,565						0.3
Commercial & industrial			2,350,138						99.4						15,349						0.6
Construction			1,234,508						100.0						611						0.0
Land - acquisition & development			199,741						98.8						2,340						1.2
Total commercial loans			8,722,208						99.7						25,865						0.3
Consumer loans
Single-family residential			5,268,808						99.7						17,751						0.3
Construction - custom			333,118						99.9						465						0.1
Land - consumer lot loans			149,301						99.6						544						0.4
HELOC			167,513						99.8						276						0.2
Consumer			77,706						99.9						58						0.1
Total consumer loans			5,996,446						99.7						19,094						0.3
Total loans			$	14,718,654					99.7		%				$	44,959					0.3		%

September 30, 2021			Performing Loans												Non-Performing Loans
			Amount						% of Total Loans						Amount						% of Total Loans
			(In thousands, except ratio data)
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			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 loans			$	13,973,121					99.8		%				$	31,749					0.2		%

X

- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447

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X

- 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/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524

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