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Allowance for Losses on Loans (Tables)

6 Months Ended

Mar. 31, 2022

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 March 31, 2022			Beginning Allowance						Charge-offs						Recoveries						Provision & Transfers (1)						Ending Allowance
			(In thousands)
Commercial loans
Multi-family			$	15,993					$	—					$	—					$	(1,530)					$	14,463
Commercial real estate			25,722						—						753						(1,793)						24,682
Commercial & industrial			47,231						(873)						2						7,543						53,903
Construction			24,766						—						179						(2,238)						22,707
Land - acquisition & development			14,125						—						20						(460)						13,685
Total commercial loans			127,837						(873)						954						1,522						129,440
Consumer loans
Single-family residential			30,106						—						147						(1,261)						28,992
Construction - custom			3,719						—						—						(590)						3,129
Land - consumer lot loans			4,984						—						40						81						5,105
HELOC			2,365						—						100						10						2,475
Consumer			2,400						(39)						144						(262)						2,243
Total consumer loans			43,574						(39)						431						(2,022)						41,944
Total loans			$	171,411					$	(912)					$	1,385					$	(500)					$	171,384

(1) Provision & transfer amounts within the table do not include the provision for unfunded commitments of $0.

Three Months Ended March 31, 2021			Beginning Allowance						Charge-offs						Recoveries						Provision & Transfers (1)						Ending Allowance
			(In thousands)
Commercial loans
Multi-family			$	14,363					$	—					$	—					$	3,413					$	17,776
Commercial real estate			23,496						—						1,457						1,869						26,822
Commercial & industrial			44,317						(18)						11						3,484						47,794
Construction			26,365						—						—						(3,816)						22,549
Land - acquisition & development			10,666						—						410						(573)						10,503
Total commercial loans			119,207						(18)						1,878						4,377						125,444
Consumer loans
Single-family residential			38,613						(106)						497						(3,896)						35,108
Construction - custom			3,594						—						—						(346)						3,248
Land - consumer lot loans			2,958						—						7						327						3,292
HELOC			2,362						—						—						(136)						2,226
Consumer			3,455						(84)						290						(326)						3,335
Total consumer loans			50,982						(190)						794						(4,377)						47,209
Total loans			$	170,189					$	(208)					$	2,672					$	—					$	172,653

(1) Provision & transfer amounts within the table do not include the provision for unfunded commitments of $0.

Six Months Ended March 31, 2022			Beginning Allowance						Charge-offs						Recoveries						Provision & Transfers (1)						Ending Allowance
			(In thousands)
Commercial loans
Multi-family			$	16,949					$	—					$	—					$	(2,486)					$	14,463
Commercial real estate			23,437						(529)						797						977						24,682
Commercial & industrial			45,957						(916)						64						8,798						53,903
Construction			25,585						—						2,179						(5,057)						22,707
Land - acquisition & development			13,447						(2)						40						200						13,685
Total commercial loans			125,375						(1,447)						3,080						2,432						129,440
Consumer loans
Single-family residential			30,978						—						552						(2,538)						28,992
Construction - custom			4,907						—						—						(1,778)						3,129
Land - consumer lot loans			4,939						(27)						45						148						5,105
HELOC			2,390						—						101						(16)						2,475
Consumer			2,711						(115)						395						(748)						2,243
Total consumer loans			45,925						(142)						1,093						(4,932)						41,944
Total loans			$	171,300					$	(1,589)					$	4,173					$	(2,500)					$	171,384

(1) Provision & transfer amounts within the table do not include the provision for unfunded commitments of $2.5 million.

Six Months Ended March 31, 2021			Beginning Allowance						Charge-offs						Recoveries						Provision & Transfers (1)						Ending Allowance
			(In thousands)
Commercial loans
Multi-family			$	13,853					$	—					$	—					$	3,923					$	17,776
Commercial real estate			22,516						—						2,246						2,060						26,822
Commercial & industrial			38,665						(20)						61						9,088						47,794
Construction			24,156						—						—						(1,607)						22,549
Land - acquisition & development			10,733						—						445						(675)						10,503
Total commercial loans			109,923						(20)						2,752						12,789						125,444
Consumer loans
Single-family residential			45,186						(106)						1,276						(11,248)						35,108
Construction - custom			3,555						—						—						(307)						3,248
Land - consumer lot loans			2,729						—						14						549						3,292
HELOC			2,571						—						—						(345)						2,226
Consumer			2,991						(234)						516						62						3,335
Total consumer loans			57,032						(340)						1,806						(11,289)						47,209
Total loans			$	166,955					$	(360)					$	4,558					$	1,500					$	172,653

(1) Provision & transfer amounts within the table do not include the provision for unfunded commitments of $1.5 million.

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 March 31, 2022.

			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			$	401,130		$	747,291		$	423,091		$	143,051		$	197,750		$	440,126		$	21,235		$	—		$	2,373,674
Special Mention			—			—			1,745			—			—			—			—			—			1,745
Substandard			—			—			—			—			649			1,589			—			—			2,238
Total			$	401,130		$	747,291		$	424,836		$	143,051		$	198,399		$	441,715		$	21,235		$	—		$	2,377,657
Commercial real estate
Pass			$	438,223		$	665,379		$	412,828		$	289,728		$	261,937		$	571,942		$	2,974		$	—		$	2,643,011
Special Mention			—			—			—			25,548			32,952			10,388			—			—			68,888
Substandard			—			—			8,253			42,150			931			44,309			1,086			—			96,729
Total			$	438,223		$	665,379		$	421,081		$	357,426		$	295,820		$	626,639		$	4,060		$	—		$	2,808,628
Commercial & industrial
Pass			$	166,005		$	535,738		$	169,933		$	45,916		$	28,461		$	237,637		$	1,163,539		$	84		$	2,347,313
Special Mention			3,454			—			2,749			5,785			—			—			35,150			—			47,138
Substandard			—			13,447			21,901			86			4,492			2,059			60,572			—			102,557
Total			$	169,459		$	549,185		$	194,583		$	51,787		$	32,953		$	239,696		$	1,259,261		$	84		$	2,497,008
Construction
Pass			$	243,483		$	517,206		$	305,966		$	58,463		$	374		$	16,314		$	67,769		$	—		$	1,209,575
Special Mention			—			2,185			—			—			—			—			—			—			2,185
Substandard			—			—			343			—			—			—			—			—			343
Total			$	243,483		$	519,391		$	306,309		$	58,463		$	374		$	16,314		$	67,769		$	—		$	1,212,103
Land - acquisition & development
Pass			$	44,638		$	79,721		$	29,947		$	10,865		$	11,835		$	29,115		$	2,600		$	—		$	208,721
Substandard			—			—			—			—			—			2,340			—			—			2,340
Total			$	44,638		$	79,721		$	29,947		$	10,865		$	11,835		$	31,455		$	2,600		$	—		$	211,061
Total commercial loans
Pass			$	1,293,479		$	2,545,335		$	1,341,765		$	548,023		$	500,357		$	1,295,134		$	1,258,117		$	84		$	8,782,294
Special Mention			3,454			2,185			4,494			31,333			32,952			10,388			35,150			—			119,956
Substandard			—			13,447			30,497			42,236			6,072			50,297			61,658			—			204,207
Total			$	1,296,933		$	2,560,967		$	1,376,756		$	621,592		$	539,381		$	1,355,819		$	1,354,925		$	84		$	9,106,457

			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			$	767,151		$	1,479,568		$	790,997		$	349,688		$	298,259		$	1,711,718		$	—		$	—		$	5,397,381
30 days past due			—			219			—			—			—			3,066			—			—			3,285
60 days past due			—			—			387			361			—			2,037			—			—			2,785
90+ days past due			—			—			—			342			169			14,683			—			—			15,194
Total			$	767,151		$	1,479,787		$	791,384		$	350,391		$	298,428		$	1,731,504		$	—		$	—		$	5,418,645
Construction - custom
Current			$	48,348		$	255,534		$	36,447		$	2,184		$	700		$	—		$	—		$	—		$	343,213
30 days past due			—			435			—			—			—			—			—			—			435
90+ days past due			—			—			465			—			—			—			—			—			465
Total			$	48,348		$	255,969		$	36,912		$	2,184		$	700		$	—		$	—		$	—		$	344,113
Land - consumer lot loans
Current			$	34,562		$	70,609		$	21,962		$	6,202		$	3,727		$	16,110		$	—		$	—		$	153,172
30 days past due			—			—			51			—			—			16			—			—			67
60 days past due			—			—			—			—			—			19			—			—			19
90+ days past due			—			—			48			—			—			243			—			—			291
Total			$	34,562		$	70,609		$	22,061		$	6,202		$	3,727		$	16,388		$	—		$	—		$	153,549
HELOC
Current			$	—		$	—		$	—		$	—		$	—		$	5,154		$	169,939		$	164		$	175,257
30 days past due			—			—			—			—			—			150			89			108			347
60 days past due			—			—			—			—			—			15			—			—			15
90+ days past due			—			—			—			—			—			—			310			—			310
Total			$	—		$	—		$	—		$	—		$	—		$	5,319		$	170,338		$	272		$	175,929
Consumer
Current			$	139		$	10,325		$	8,079		$	366		$	28,257		$	8,495		$	11,860		$	—		$	67,521
30 days past due			—			—			—			6			—			47			1			—			54
60 days past due			2			—			—			—			—			1			4			—			7
90+ days past due			—			—			—			34			—			1			—			—			35
Total			$	141		$	10,325		$	8,079		$	406		$	28,257		$	8,544		$	11,865		$	—		$	67,617
Total consumer loans
Current			$	850,200		$	1,816,036		$	857,485		$	358,440		$	330,943		$	1,741,477		$	181,799		$	164		$	6,136,544
30 days past due			—			654			51			6			—			3,279			90			108			4,188
60 days past due			2			—			387			361			—			2,072			4			—			2,826
90+ days past due			—			—			513			376			169			14,927			310			—			16,295
Total			$	850,202		$	1,816,690		$	858,436		$	359,183		$	331,112		$	1,761,755		$	182,203		$	272		$	6,159,853

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

March 31, 2022			Internally Assigned Grade
			Pass						Special mention						Substandard						Doubtful						Loss						Total
			(In thousands, except ratio data)
Loan type
Commercial loans
Multi-family			$	2,373,674					$	1,745					$	2,238					$	—					$	—					$	2,377,657
Commercial real estate			2,643,011						68,888						96,729						—						—						2,808,628
Commercial & industrial			2,347,313						47,138						102,557						—						—						2,497,008
Construction			1,209,575						2,185						343						—						—						1,212,103
Land - acquisition & development			208,721						—						2,340						—						—						211,061
Total commercial loans			8,782,294						119,956						204,207						—						—						9,106,457
Consumer loans
Single-family residential			5,396,628						—						22,017						—						—						5,418,645
Construction - custom			343,648						—						465						—						—						344,113
Land - consumer lot loans			153,240						—						309						—						—						153,549
HELOC			175,600						—						329						—						—						175,929
Consumer			67,601						—						16						—						—						67,617
Total consumer loans			6,136,717						—						23,136						—						—						6,159,853
Total			$	14,919,011					$	119,956					$	227,343					$	—					$	—					$	15,266,310
Total grade as a % of total loans			97.72		%				0.79		%				1.49		%				—		%				—		%

September 30, 2021			Internally Assigned Grade
			Pass						Special mention						Substandard						Doubtful						Loss						Total
			(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 loans			96.44		%				0.80		%				2.76		%				—		%				—		%

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

March 31, 2022			Performing Loans												Non-Performing Loans
			Amount						% of Total Loans						Amount						% of Total Loans
			(In thousands, except ratio data)
Commercial loans
Multi-family			$	2,377,657					100.0		%				$	—					—		%
Commercial real estate			2,802,216						99.8						6,412						0.2
Commercial & industrial			2,492,219						99.8						4,789						0.2
Construction			1,211,760						100.0						343						0.0
Land - acquisition & development			208,721						98.9						2,340						1.1
Total commercial loans			9,092,573						99.8						13,884						0.2
Consumer loans
Single-family residential			5,400,033						99.7						18,612						0.3
Construction - custom			343,648						99.9						465						0.1
Land - consumer lot loans			153,239						99.8						310						0.2
HELOC			175,600						99.8						329						0.2
Consumer			67,578						99.9						39						0.1
Total consumer loans			6,140,098						99.7						19,755						0.3
Total loans			$	15,232,671					99.8		%				$	33,639					0.2		%

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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No definition available.

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