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Allowance for Losses on Loans (Tables)

9 Months Ended

Jun. 30, 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 June 30, 2022			Beginning Allowance						Charge-offs						Recoveries						Provision & Transfers (1)						Ending Allowance
			(In thousands)
Commercial loans
Multi-family			$	14,463					$	—					$	—					$	(1,889)					$	12,574
Commercial real estate			24,682						—						23						595						25,300
Commercial & industrial			53,903						(27)						8						1,040						54,924
Construction			22,707						—						—						3,127						25,834
Land - acquisition & development			13,685						(1)						11						(1,468)						12,227
Total commercial loans			129,440						(28)						42						1,405						130,859
Consumer loans
Single-family residential			28,992						—						252						(3,027)						26,217
Construction - custom			3,129						—						—						225						3,354
Land - consumer lot loans			5,105						—						2						113						5,220
HELOC			2,475						—						249						(92)						2,632
Consumer			2,243						(253)						331						376						2,697
Total consumer loans			41,944						(253)						834						(2,405)						40,120
Total loans			$	171,384					$	(281)					$	876					$	(1,000)					$	170,979

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

Three Months Ended June 30, 2021			Beginning Allowance						Charge-offs						Recoveries						Provision & Transfers (1)						Ending Allowance
			(In thousands)
Commercial loans
Multi-family			$	17,776					$	—					$	—					$	(108)					$	17,668
Commercial real estate			26,822						—						485						(3,422)						23,885
Commercial & industrial			47,794						(11)						13						(2,258)						45,538
Construction			22,549						—						—						2,274						24,823
Land - acquisition & development			10,503						—						9						1,093						11,605
Total commercial loans			125,444						(11)						507						(2,421)						123,519
Consumer loans
Single-family residential			35,108						—						324						(1,242)						34,190
Construction - custom			3,248						—						—						274						3,522
Land - consumer lot loans			3,292						—						7						412						3,711
HELOC			2,226						—						51						(64)						2,213
Consumer			3,335						(36)						289						41						3,629
Total consumer loans			47,209						(36)						671						(579)						47,265
Total loans			$	172,653					$	(47)					$	1,178					$	(3,000)					$	170,784

(1) Provision & transfer amounts within the table do not include the provision for unfunded commitments of $1.0 million.

Nine Months Ended June 30, 2022			Beginning Allowance						Charge-offs						Recoveries						Provision & Transfers (1)						Ending Allowance
			(In thousands)
Commercial loans
Multi-family			$	16,949					$	—					$	—					$	(4,375)					$	12,574
Commercial real estate			23,437						(529)						820						1,572						25,300
Commercial & industrial			45,957						(943)						72						9,838						54,924
Construction			25,585						—						2,179						(1,930)						25,834
Land - acquisition & development			13,447						(3)						51						(1,268)						12,227
Total commercial loans			125,375						(1,475)						3,122						3,837						130,859
Consumer loans
Single-family residential			30,978						—						804						(5,565)						26,217
Construction - custom			4,907						—						—						(1,553)						3,354
Land - consumer lot loans			4,939						(27)						47						261						5,220
HELOC			2,390						—						350						(108)						2,632
Consumer			2,711						(368)						726						(372)						2,697
Total consumer loans			45,925						(395)						1,927						(7,337)						40,120
Total loans			$	171,300					$	(1,870)					$	5,049					$	(3,500)					$	170,979

(1) Provision & transfer amounts within the table do not include the provision for unfunded commitments of $5.0 million.

Nine Months Ended June 30, 2021			Beginning Allowance						Charge-offs						Recoveries						Provision & Transfers (1)						Ending Allowance
			(In thousands)
Commercial loans
Multi-family			$	13,853					$	—					$	—					$	3,815					$	17,668
Commercial real estate			22,516						—						2,731						(1,362)						23,885
Commercial & industrial			38,665						(31)						74						6,830						45,538
Construction			24,156						—						—						667						24,823
Land - acquisition & development			10,733						—						454						418						11,605
Total commercial loans			109,923						(31)						3,259						10,368						123,519
Consumer loans
Single-family residential			45,186						(106)						1,600						(12,490)						34,190
Construction - custom			3,555						—						—						(33)						3,522
Land - consumer lot loans			2,729						—						21						961						3,711
HELOC			2,571						—						51						(409)						2,213
Consumer			2,991						(270)						805						103						3,629
Total consumer loans			57,032						(376)						2,477						(11,868)						47,265
Total loans			$	166,955					$	(407)					$	5,736					$	(1,500)					$	170,784

(1) Provision & transfer amounts within the table do not include the provision for unfunded commitments of $2.5 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 June 30, 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			$	584,451		$	717,886		$	463,720		$	140,499		$	162,319		$	373,585		$	26,562		$	—		$	2,469,022
Substandard			—			—			1,738			—			6,592			1,580			—			—			9,910
Total			$	584,451		$	717,886		$	465,458		$	140,499		$	168,911		$	375,165		$	26,562		$	—		$	2,478,932
Commercial real estate
Pass			$	605,412		$	678,619		$	432,194		$	273,116		$	243,378		$	549,589		$	2,942		$	—		$	2,785,250
Substandard			262			—			5,119			66,309			4,895			14,080			1,080			—			91,745
Total			$	605,674		$	678,619		$	437,313		$	339,425		$	248,273		$	563,669		$	4,022		$	—		$	2,876,995
Commercial & industrial
Pass			$	197,991		$	476,441		$	152,423		$	43,441		$	25,837		$	233,135		$	1,068,341		$	217		$	2,197,826
Special Mention			2,506			—			—			—			—			—			30,283			—			32,789
Substandard			2,045			12,935			19,866			5,603			4,388			1,983			66,611			—			113,431
Total			$	202,542		$	489,376		$	172,289		$	49,044		$	30,225		$	235,118		$	1,165,235		$	217		$	2,344,046
Construction
Pass			$	381,073		$	623,971		$	252,391		$	70,014		$	374		$	16,316		$	60,816		$	—		$	1,404,955
Substandard			—			2,256			—			—			—			—			—			—			2,256
Total			$	381,073		$	626,227		$	252,391		$	70,014		$	374		$	16,316		$	60,816		$	—		$	1,407,211
Land - acquisition & development
Pass			$	83,037		$	73,788		$	20,398		$	4,126		$	10,444		$	28,581		$	2,600		$	—		$	222,974
Total			$	83,037		$	73,788		$	20,398		$	4,126		$	10,444		$	28,581		$	2,600		$	—		$	222,974
Total commercial loans
Pass			$	1,851,964		$	2,570,705		$	1,321,126		$	531,196		$	442,352		$	1,201,206		$	1,161,261		$	217		$	9,080,027
Special Mention			2,506			—			—			—			—			—			30,283			—			32,789
Substandard			2,307			15,191			26,723			71,912			15,875			17,643			67,691			—			217,342
Total			$	1,856,777		$	2,585,896		$	1,347,849		$	603,108		$	458,227		$	1,218,849		$	1,259,235		$	217		$	9,330,158

			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			$	1,008,103		$	1,566,179		$	780,090		$	331,798		$	286,311		$	1,624,778		$	—		$	—		$	5,597,259
30 days past due			2,601			—			—			78			—			1,932			—			—			4,611
60 days past due			—			—			696			59			—			778			—			—			1,533
90+ days past due			—			775			—			699			57			14,514			—			—			16,045
Total			$	1,010,704		$	1,566,954		$	780,786		$	332,634		$	286,368		$	1,642,002		$	—		$	—		$	5,619,448
Construction - custom
Current			$	125,662		$	223,181		$	17,212		$	1,154		$	730		$	—		$	—		$	—		$	367,939
90+ days past due			—			435			465			—			—			—			—			—			900
Total			$	125,662		$	223,616		$	17,677		$	1,154		$	730		$	—		$	—		$	—		$	368,839
Land - consumer lot loans
Current			$	49,972		$	65,286		$	18,076		$	5,825		$	3,464		$	14,070		$	—		$	—		$	156,693
30 days past due			—			—			206			—			—			—			—			—			206
90+ days past due			—			—			—			—			—			177			—			—			177
Total			$	49,972		$	65,286		$	18,282		$	5,825		$	3,464		$	14,247		$	—		$	—		$	157,076
HELOC
Current			$	—		$	—		$	—		$	—		$	—		$	4,794		$	182,091		$	382		$	187,267
30 days past due			—			—			—			—			—			—			103			—			103
60 days past due			—			—			—			—			—			—			7			9			16
90+ days past due			—			—			—			—			—			—			83			—			83
Total			$	—		$	—		$	—		$	—		$	—		$	4,794		$	182,284		$	391		$	187,469
Consumer
Current			$	647		$	10,251		$	8,049		$	299		$	25,482		$	7,128		$	21,046		$	—		$	72,902
30 days past due			—			—			—			5			—			123			2			—			130
60 days past due			—			—			—			—			—			63			—			—			63
90+ days past due			1			—			—			33			—			25			—			—			59
Total			$	648		$	10,251		$	8,049		$	337		$	25,482		$	7,339		$	21,048		$	—		$	73,154
Total consumer loans
Current			$	1,184,384		$	1,864,897		$	823,427		$	339,076		$	315,987		$	1,650,770		$	203,137		$	382		$	6,382,060
30 days past due			2,601			—			206			83			—			2,055			105			—			5,050
60 days past due			—			—			696			59			—			841			7			9			1,612
90+ days past due			1			1,210			465			732			57			14,716			83			—			17,264
Total			$	1,186,986		$	1,866,107		$	824,794		$	339,950		$	316,044		$	1,668,382		$	203,332		$	391		$	6,405,986

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

June 30, 2022			Internally Assigned Grade
			Pass						Special mention						Substandard						Doubtful						Loss						Total
			(In thousands, except ratio data)
Loan type
Commercial loans
Multi-family			$	2,469,022					$	—					$	9,910					$	—					$	—					$	2,478,932
Commercial real estate			2,785,250						—						91,745						—						—						2,876,995
Commercial & industrial			2,197,826						32,789						113,431						—						—						2,344,046
Construction			1,404,955						—						2,256						—						—						1,407,211
Land - acquisition & development			222,974						—						—						—						—						222,974
Total commercial loans			9,080,027						32,789						217,342						—						—						9,330,158
Consumer loans
Single-family residential			5,595,898						—						23,550						—						—						5,619,448
Construction - custom			367,939						—						900						—						—						368,839
Land - consumer lot loans			156,864						—						212						—						—						157,076
HELOC			187,378						—						91						—						—						187,469
Consumer			73,142						—						12						—						—						73,154
Total consumer loans			6,381,221						—						24,765						—						—						6,405,986
Total			$	15,461,248					$	32,789					$	242,107					$	—					$	—					$	15,736,144
Total grade as a % of total loans			98.25		%				0.21		%				1.54		%				—		%				—		%

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.

June 30, 2022			Performing Loans												Non-Performing Loans
			Amount						% of Total Loans						Amount						% of Total Loans
			(In thousands, except ratio data)
Commercial loans
Multi-family			$	2,472,988					99.8		%				$	5,944					0.2		%
Commercial real estate			2,871,971						99.8						5,024						0.2
Commercial & industrial			2,339,758						99.8						4,288						0.2
Construction			1,407,211						100.0						—						0.0
Land - acquisition & development			222,974						100.0						—						—
Total commercial loans			9,314,902						99.8						15,256						0.2
Consumer loans
Single-family residential			5,599,264						99.6						20,184						0.4
Construction - custom			367,939						99.8						900						0.2
Land - consumer lot loans			156,863						99.9						213						0.1
HELOC			187,378						100.0						91						—
Consumer			73,119						100.0						35						0.0
Total consumer loans			6,384,563						99.7						21,423						0.3
Total loans			$	15,699,465					99.8		%				$	36,679					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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524

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