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Loans Receivable (Tables)
 3 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Schedule of Loans Receivable
The following table is a summary of loans receivable by loan portfolio segment and class.
 December 31, 2024September 30, 2024
Gross loans by category(In thousands)(In thousands)
Commercial loans
Multi-family$4,829,736 21.6 %$4,658,119 20.8 %
Commercial real estate3,637,986 16.2 3,757,040 16.8 
Commercial & industrial2,408,693 10.7 2,337,139 10.5 
Construction2,062,116 9.2 2,174,254 9.7 
Land - acquisition & development178,687 0.8 200,713 0.9 
Total commercial loans13,117,218 58.5 13,127,265 58.7 
Consumer loans
Single-family residential8,520,833 38.0 8,399,030 37.6 
Construction - custom335,715 1.5 384,161 1.7 
   Land - consumer lot loans107,205 0.5 108,791 0.5 
   HELOC275,132 1.2 266,151 1.2 
   Consumer75,933 0.3 73,998 0.3 
Total consumer loans9,314,818 41.5 9,232,131 41.3 
Total gross loans22,432,036 100 %22,359,396 100 %
   Less:
      Allowance for credit losses on loans204,522 203,753 
      Loans in process903,253 1,009,798 
      Net deferred fees, costs and discounts263,760 229,491 
Total loan contra accounts1,371,535 1,443,042 
Net loans$21,060,501 $20,916,354 
Non-accrual Loans and Loans 90 Days or More Past Due and Accruing
The following table sets forth the amortized cost basis of non-accrual loans and loans 90 days or more past due and accruing.
 
 December 31, 2024September 30, 2024
 (In thousands, except ratio data)
Non-accrualNon-accrual with no ACL90 days or more past due and accruingNon-accrualNon-accrual with no ACL90 days or more past due and accruing
Commercial loans
Multi-family$24,077 $— $— $18,743 $— $— 
Commercial real estate26,292 — — 26,362 — — 
Commercial & industrial1,963 — — — — 1,083 
Construction624 — — 1,120 — — 
Land - acquisition & development— — — 74 — — 
   Total commercial loans52,956 — — 46,299 — 1,083 
Consumer loans
Single-family residential17,440 — — 21,488 — — 
Construction - custom848 — — 848 — — 
Land - consumer lot loans8 — — — — — 
HELOC786 — — 596 — — 
Consumer449 — — 310 — — 
   Total consumer loans19,531 — — 23,242 — — 
Total non-accrual loans$72,487 $— $— $69,541 $— $1,083 
% of total loans0.34 %0.33 %
Loan Delinquencies by Loan Portfolio and Class
The following tables provide details regarding loan delinquencies by loan portfolio and class.
 
December 31, 2024Days Delinquent Based on $ Amount of Loans% based
on $
Type of LoanLoans Receivable (Amortized Cost)Current306090Total Delinquent
(In thousands, except ratio data)
Commercial Loans
Multi-family$4,740,797 $4,717,293 $8,539 $2,520 $12,445 $23,504 0.50 %
Commercial real estate3,610,758 3,610,088 88 34 548 670 0.02 
Commercial & industrial2,403,719 2,401,473 256 30 1,960 2,246 0.09 
Construction1,383,048 1,378,553 622 3,249 624 4,495 0.33 
Land - acquisition & development146,609 146,609 — — — — — 
   Total commercial loans12,284,931 12,254,016 9,505 5,833 15,577 30,915 0.25 
Consumer Loans
Single-family residential8,362,881 8,333,284 6,639 6,107 16,851 29,597 0.35 
Construction - custom155,714 154,866 — — 848 848 0.54 
Land - consumer lot loans106,489 106,156 326 — 7 333 0.31 
HELOC279,039 277,002 916 383 738 2,037 0.73 
Consumer75,969 75,257 133 130 449 712 0.94 
   Total consumer loans8,980,092 8,946,565 8,014 6,620 18,893 33,527 0.37 
Total Loans$21,265,023 $21,200,581 $17,519 $12,453 $34,470 $64,442 0.30 %
Delinquency %99.70%0.09%0.05%0.16%0.30%



September 30, 2024Days Delinquent Based on $ Amount of Loans% based
on $
Type of LoanLoans Receivable (Amortized Cost)Current306090Total Delinquent
(In thousands, except ratio data)
Commercial Loans
Multi-family$4,556,200 $4,541,527 $— $4,890 $9,783 $14,673 0.32 %
Commercial real estate3,732,155 3,731,494 89 — 572 661 0.02 
Commercial & industrial2,332,732 2,330,686 — 1,023 1,023 2,046 0.09 
Construction1,424,016 1,421,966 930 — 1,120 2,050 0.14 
Land - acquisition & development160,317 160,243 — — 74 74 0.05 
  Total commercial loans12,205,420 12,185,916 1,019 5,913 12,572 19,504 0.16 
Consumer Loans
Single-family residential8,280,300 8,250,589 3,927 7,540 18,244 29,711 0.36 
Construction - custom182,415 181,567 — — 848 848 0.46 
Land - consumer lot loans108,060 108,060 — — — — — 
HELOC269,857 267,347 1,387 577 546 2,510 0.93 
Consumer74,055 73,290 311 144 310 765 1.03 
  Total consumer loans8,914,687 8,880,853 5,625 8,261 19,948 33,834 0.38 
Total Loans$21,120,107 $21,066,769 $6,644 $14,174 $32,520 $53,338 0.25 %
Delinquency %99.75%0.03%0.07%0.15%0.25%
The following table presents the amortized basis of collateral-dependent loans by loan class and collateral type as of December 31, 2024.
Loan typeResidential Real EstateCommercial Real Estate
($ in thousands)
Commercial loans
Multi-Family$— $24,701 
Commercial Real Estate— 29,671 
Commercial & Industrial— — 
Construction624 — 
Land - Acquisition & Development— — 
Total commercial loans624 54,372 
Consumer loans
Single-Family Residential3,825 — 
Construction - Custom88 — 
Land - Consumer Lot Loans— — 
HELOC515 — 
Consumer— — 
Total consumer loans4,428 — 
Total Loans$5,052 $54,372 
Schedule of Loan Modifications
The following table presents the amortized basis of loans that were modified to borrowers experiencing financial difficulty during the period by loan class and modification type. All such modifications during the quarter were term extensions.
Three Months Ended December 31, 2024
Loan ClassTerm Extension% of Total Loan Class BalanceWtd. Avg.
Term Extension
( in thousands)(in months)
Commercial & industrial9,396 0.39 %14
Total commercial loans9,396 0.08 
Single-Family Residential455 0.01 6
Total consumer loans455 0.01 
Total Loans$9,851 0.05 %

Three Months Ended December 31, 2023
Loan ClassTerm Extension% of Total Loan Class BalanceWtd. Avg.
Term Extension
( in thousands)(in months)
Commercial real estate$143 — %20
Commercial & industrial7,814 0.33 4
Construction346 0.02 4
Total commercial loans8,303 0.09 
Total Loans$8,303 0.05 %
The following table presents the performance of such loans that have been modified for the twelve months ended December 31, 2024.
Days Delinquent
Loan typeCurrent306090Total
Commercial loans
Commercial real estate
$23,329 $— $— $— $23,329 
Commercial & industrial
49,542 — — 992 50,534 
Construction
19,232 — — — 19,232 
Total commercial loans
92,103 — — 992 93,095 
Consumer loans
Single-family residential
776 557 — — 1,333 
Total consumer loans
776 557 — — 1,333 
Total Loans
$92,879 $557 $— $992 $94,428 
Schedule 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, 2024 and September 30, 2024. There were no commercial loans classified as Loss as of either date.
December 31, 2024Term Loans Amortized Cost Basis by Origination Year
YTD 20252024202320222021Prior to 2021Revolving LoansRevolving to Term LoansTotal Loans
Commercial loans
Multi-family
Pass$5,618 $78,096 $267,763 $1,594,835 $1,273,530 $1,368,909 $56,627 $— $4,645,378 
Special Mention— — — 1,692 2,644 8,011 — — 12,347 
Substandard— — — 24,500 7,355 48,607 — — 80,462 
Doubtful— — — — — 2,610 — — 2,610 
Total$5,618 $78,096 $267,763 $1,621,027 $1,283,529 $1,428,137 $56,627 $— $4,740,797 
Commercial real estate
Pass$44,950 $224,619 $230,989 $1,117,060 $701,263 $1,143,521 $35,046 $995 $3,498,443 
Special Mention— — — — 22,086 1,382 — — 23,468 
Substandard— — — 4,776 2,253 81,818 — — 88,847 
Total$44,950 $224,619 $230,989 $1,121,836 $725,602 $1,226,721 $35,046 $995 $3,610,758 
Gross Charge-offs— — 163 — — — — 163 
Commercial & industrial
Pass$11,132 $77,063 $144,166 $224,384 $272,034 $249,495 $1,178,878 $166 $2,157,318 
Special Mention— 2,062 — — — — 59,255 — 61,317 
Substandard16,274 122 22,835 23,380 1,887 43,932 75,133 1,521 185,084 
Total$27,406 $79,247 $167,001 $247,764 $273,921 $293,427 $1,313,266 $1,687 $2,403,719 
Gross Charge-offs— — — — — 308 — 49 357 
Construction
Pass$17,375 $172,782 $392,323 $513,286 $164,966 $— $63,313 $— $1,324,045 
Special Mention— — — 18,094 3,400 — — — 21,494 
Substandard— 4,252 13,450 5,339 13,844 — — — 36,885 
Doubtful— — — 624 — — — — 624 
Total$17,375 $177,034 $405,773 $537,343 $182,210 $— $63,313 $— $1,383,048 
Land - acquisition & development
Pass$7,596 $24,063 $12,291 $50,156 $36,229 $14,841 $— $— $145,176 
Special Mention— — — — — — — — — 
Substandard153 698 275 — — 307 — — 1,433 
Total$7,749 $24,761 $12,566 $50,156 $36,229 $15,148 $— $— $146,609 
Total commercial loans
Pass$86,671 $576,623 $1,047,532 $3,499,721 $2,448,022 $2,776,766 $1,333,864 $1,161 $11,770,360 
Special Mention— 2,062 — 19,786 28,130 9,393 59,255 — 118,626 
Substandard16,427 5,072 36,560 57,995 25,339 174,664 75,133 1,521 392,711 
Doubtful— — — 624 — 2,610 — — 3,234 
Total$103,098 $583,757 $1,084,092 $3,578,126 $2,501,491 $2,963,433 $1,468,252 $2,682 $12,284,931 
Gross Charge-offs$— $— $163 $— $— $308 $— $49 $520 
December 31, 2024Term Loans Amortized Cost Basis by Origination Year
YTD 20252024202320222021Prior to 2021Revolving LoansRevolving to Term LoansTotal Loans
Consumer loans
Single-family residential
Current$222,407 $340,215 $792,890 $2,255,616 $2,025,980 $2,696,176 $— $— $8,333,284 
30 days past due— — — 1,276 49 5,314 — — 6,639 
60 days past due— — — 1,883 1,944 2,280 — — 6,107 
90+ days past due— — 914 2,593 738 12,606 — — 16,851 
Total$222,407 $340,215 $793,804 $2,261,368 $2,028,711 $2,716,376 $— $— $8,362,881 
Construction - custom
Current$1,104 $72,529 $69,754 $11,120 $— $359 $— $— $154,866 
90+ days past due— — — 848 — — — — 848 
Total$1,104 $72,529 $69,754 $11,968 $— $359 $— $— $155,714 
Land - consumer lot loans
Current$4,931 $18,454 $13,143 $24,512 $23,088 $22,028 $— $— $106,156 
30 days past due— — 126 — 200 — — — 326 
90+ days past due— — — — — 7 — — 7 
Total$4,931 $18,454 $13,269 $24,512 $23,288 $22,035 $— $— $106,489 
HELOC
Current$— $— $— $— $— $4,448 $271,826 $728 $277,002 
30 days past due— — — — — 233 663 20 916 
60 days past due— — — — — 152 231 — 383 
90+ days past due— — — — — 8 730 — 738 
Total$— $— $— $— $— $4,841 $273,450 $748 $279,039 
Consumer
Current$79 $1,210 $23 $(15)$9,319 $24,964 $39,677 $— $75,257 
30 days past due— — — — — 18 115 — 133 
60 days past due— — — — — 71 59 — 130 
90+ days past due— — — — — 32 417 — 449 
Total$79 $1,210 $23 $(15)$9,319 $25,085 $40,268 $— $75,969 
Gross Charge-offs— — — — — 261 — 4 265 
Total consumer loans
Current$228,521 $432,408 $875,810 $2,291,233 $2,058,387 $2,747,975 $311,503 $728 $8,946,565 
30 days past due— — 126 1,276 249 5,565 778 20 8,014 
60 days past due— — — 1,883 1,944 2,503 290 — 6,620 
90+ days past due— — 914 3,441 738 12,653 1,147 — 18,893 
Total$228,521 $432,408 $876,850 $2,297,833 $2,061,318 $2,768,696 $313,718 $748 $8,980,092 
Gross Charge-offs$— $— $— $— $— $261 $— $4 $265 
September 30, 2024Term Loans Amortized Cost Basis by Origination Year
20242023202220212020Prior to 2020Revolving LoansRevolving to Term LoansTotal Loans
Commercial loans
Multi-family
Pass$62,038 $198,790 $1,645,460 $1,203,005 $577,037 $716,573 $56,627 $16,753 $4,476,283 
Special Mention— — 1,698 2,655 2,572 5,452 — — 12,377 
Substandard— — 13,566 5,850 7,059 41,065 — — 67,540 
Total$62,038 $198,790 $1,660,724 $1,211,510 $586,668 $763,090 $56,627 $16,753 $4,556,200 
Commercial real estate
Pass$216,520 $252,923 $1,086,200 $723,600 $475,313 $797,877 $35,249 $— $3,587,682 
Special Mention— — — 22,216 8,682 9,399 — — 40,297 
Substandard— — 8,686 2,260 25,319 67,911 — — 104,176 
Total$216,520 $252,923 $1,094,886 $748,076 $509,314 $875,187 $35,249 $— $3,732,155 
Gross Charge-offs— — — — — 203 — — 203 
Commercial & industrial
Pass$42,232 $148,059 $231,215 $282,148 $89,219 $156,666 $1,116,283 $41,957 $2,107,779 
Special Mention— — — — — — 21,264 — 21,264 
Substandard2,142 19,818 35,717 2,284 13,227 44,870 85,627 4 203,689 
Total$44,374 $167,877 $266,932 $284,432 $102,446 $201,536 $1,223,174 $41,961 $2,332,732 
Gross Charge-offs175 42 10 15 — 7 2,331 31 2,611 
Construction
Pass$146,154 $421,334 $532,310 $233,200 $— $— $59,334 $— $1,392,332 
Special Mention— — — 3,221 — — — — 3,221 
Substandard82 8,622 6,060 13,699 — — — — 28,463 
Total$146,236 $429,956 $538,370 $250,120 $— $— $59,334 $— $1,424,016 
Land - acquisition & development
Pass$23,475 $12,976 $56,292 $46,635 $2,774 $17,768 $— $— $159,920 
Substandard— — — — 74 323 — — 397 
Total$23,475 $12,976 $56,292 $46,635 $2,848 $18,091 $— $— $160,317 
Gross Charge-offs— — — — — 149 — — 149 
Total commercial loans
Pass$490,419 $1,034,082 $3,551,477 $2,488,588 $1,144,343 $1,688,884 $1,267,493 $58,710 $11,723,996 
Special Mention— — 1,698 28,092 11,254 14,851 21,264 — 77,159 
Substandard2,224 28,440 64,029 24,093 45,679 154,169 85,627 4 404,265 
Total$492,643 $1,062,522 $3,617,204 $2,540,773 $1,201,276 $1,857,904 $1,374,384 $58,714 $12,205,420 
Gross Charge-offs$175 $42 $10 $15 $— $359 $2,331 $31 $2,963 
September 30, 2024Term Loans Amortized Cost Basis by Origination Year
20242023202220212020Prior to 2020Revolving LoansRevolving to Term LoansTotal Loans
Consumer loans
Single-family residential
Current$384,516 $765,673 $2,285,996 $2,061,359 $797,586 $1,955,459 $— $— $8,250,589 
30 days past due— — 375 — 1,063 2,489 — — 3,927 
60 days past due— 3,237 — 1,199 662 2,442 — — 7,540 
90+ days past due— 820 3,454 1,339 1,027 11,604 — — 18,244 
Total$384,516 $769,730 $2,289,825 $2,063,897 $800,338 $1,971,994 $— $— $8,280,300 
Gross Charge-offs— — 13 — — 131 — — 144 
Construction - custom
Current$54,649 $108,941 $17,082 $537 $— $358 $— $— $181,567 
90+ days past due— — 848 — — — — — 848 
Total$54,649 $108,941 $17,930 $537 $— $358 $— $— $182,415 
Land - consumer lot loans
Current$19,672 $14,809 $26,839 $23,804 $9,223 $13,713 $— $— $108,060 
Total$19,672 $14,809 $26,839 $23,804 $9,223 $13,713 $— $— $108,060 
HELOC
Current$— $— $— $— $— $4,176 $262,055 $1,116 $267,347 
30 days past due— — — — — 216 1,171 — 1,387 
60 days past due— — — — — 392 185 — 577 
90+ days past due— — — — — 8 538 — 546 
Total$— $— $— $— $— $4,792 $263,949 $1,116 $269,857 
Consumer
Current$1,515 $33 $(19)$9,440 $8,000 $18,329 $35,992 $— $73,290 
30 days past due— — — — — 92 219 — 311 
60 days past due— — — — — — 144 — 144 
90+ days past due— — — — — 91 219 — 310 
Total$1,515 $33 $(19)$9,440 $8,000 $18,512 $36,574 $— $74,055 
Gross Charge-offs— — — — — 139 379 — 518 
Total consumer loans
Current$460,352 $889,456 $2,329,898 $2,095,140 $814,809 $1,992,035 $298,047 $1,116 $8,880,853 
30 days past due— — 375 — 1,063 2,797 1,390 — 5,625 
60 days past due— 3,237 — 1,199 662 2,834 329 — 8,261 
90+ days past due— 820 4,302 1,339 1,027 11,703 757 — 19,948 
Total$460,352 $893,513 $2,334,575 $2,097,678 $817,561 $2,009,369 $300,523 $1,116 $8,914,687 
Gross Charge-offs$— $— $13 $— $— $270 $379 $— $662 
The following tables provide the amortized cost of loans receivable based on risk rating categories as previously defined.
December 31, 2024Internally Assigned Grade
 PassSpecial mentionSubstandardDoubtfulLossTotal
 (In thousands, except ratio data)
Loan type
Commercial loans
  Multi-family$4,645,378 $12,347 $80,462 $2,610 $— $4,740,797 
  Commercial real estate3,498,443 23,468 88,847 — — 3,610,758 
  Commercial & industrial2,157,318 61,317 185,084 — — 2,403,719 
  Construction1,324,045 21,494 36,885 624 — 1,383,048 
  Land - acquisition & development145,176 — 1,433 — — 146,609 
    Total commercial loans11,770,360 118,626 392,711 3,234 — 12,284,931 
Consumer loans
  Single-family residential8,345,441 — 17,440 — — 8,362,881 
  Construction - custom154,866 — 848 — — 155,714 
  Land - consumer lot loans106,481 — 8 — — 106,489 
  HELOC278,253 — 786 — — 279,039 
  Consumer75,539 — 430 — — 75,969 
    Total consumer loans8,960,580 — 19,512 — — 8,980,092 
Total$20,730,940 $118,626 $412,223 $3,234 $— $21,265,023 
Total grade as a % of total loans97.49 %0.56 %1.94 %0.01 %— %
September 30, 2024Internally Assigned Grade
 PassSpecial mentionSubstandardDoubtfulLossTotal Gross Loans
 (In thousands, except ratio data)
Loan type
Commercial loans
  Multi-family$4,476,283 $12,377 $67,540 $— $— $4,556,200 
  Commercial real estate3,587,682 40,297 104,176 — — 3,732,155 
  Commercial & industrial2,107,780 21,264 203,688 — — 2,332,732 
  Construction1,392,332 3,221 28,463 — — 1,424,016 
  Land - acquisition & development159,919 — 398 — — 160,317 
    Total commercial loans11,723,996 77,159 404,265 — — 12,205,420 
Consumer loans
  Single-family residential8,258,812 — 21,488 — — 8,280,300 
  Construction - custom181,567 — 848 — — 182,415 
  Land - consumer lot loans108,060 — — — — 108,060 
  HELOC269,261 — 596 — — 269,857 
  Consumer73,824 — 231 — — 74,055 
    Total consumer loans8,891,524 — 23,163 — — 8,914,687 
Total loans$20,615,520 $77,159 $427,428 $— $— $21,120,107 
Total grade as a % of total gross loans97.61 %0.37 %2.02 %— %— %

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

December 31, 2024Performing LoansNon-Performing Loans
 Amount% of Total
Loans		Amount% of Total
Loans
 (In thousands, except ratio data)
Commercial loans
   Multi-family$4,716,720 99.5 %$24,077 0.5 %
   Commercial real estate3,584,466 99.3 26,292 0.7 
   Commercial & industrial2,401,756 99.9 1,963 0.1 
   Construction1,382,424 100.0 624 0.0 
   Land - acquisition & development146,609 100.0 — — 
      Total commercial loans12,231,975 99.6 52,956 0.4 
Consumer loans
   Single-family residential8,345,441 99.8 17,440 0.2 
   Construction - custom154,866 99.5 848 0.5 
   Land - consumer lot loans106,481 100.0 8 0.0 
   HELOC278,253 99.7 786 0.3 
   Consumer75,520 99.4 449 0.6 
      Total consumer loans8,960,561 99.8 19,531 0.2 
Total loans$21,192,536 99.7 %$72,487 0.3 %
September 30, 2024Performing LoansNon-Performing Loans
 Amount% of Total
Loans		Amount% of Total
Loans
 (In thousands, except ratio data)
Commercial loans
   Multi-family$4,537,457 99.6 %$18,743 0.4 %
   Commercial real estate3,705,793 99.3 26,362 0.7 
   Commercial & industrial2,332,732 100.0 — — 
   Construction1,422,896 99.9 1,120 0.1 
   Land - acquisition & development160,243 100.0 74 — 
      Total commercial loans12,159,121 99.6 46,299 0.4 
Consumer loans
   Single-family residential8,258,812 99.7 21,488 0.3 
   Construction - custom181,567 99.5 848 0.5 
   Land - consumer lot loans108,060 100.0 — — 
   HELOC269,261 99.8 596 0.2 
   Consumer73,745 99.6 310 0.4 
      Total consumer loans8,891,445 99.7 23,242 0.3 
Total loans$21,050,566 99.7 %$69,541 0.3 %