XML 35 R25.htm IDEA: XBRL DOCUMENT v3.25.0.1

Allowance for Losses on Loans (Tables)

3 Months Ended

Dec. 31, 2024

Receivables [Abstract]

Schedule of 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, 2024			Beginning Allowance						Charge-offs						Recoveries						Provision & Transfers1						Ending Allowance
			(In thousands)
Commercial loans
Multi-family			$	25,248					$	—					$	—					$	749					$	25,997
Commercial real estate			39,210						(163)						—						(1,174)						37,873
Commercial & industrial			58,748						(357)						4						2,079						60,474
Construction			22,267						—						—						(1,364)						20,903
Land - acquisition & development			7,900						—						12						(691)						7,221
Total commercial loans			153,373						(520)						16						(401)						152,468
Consumer loans
Single-family residential			40,523						—						456						1,138						42,117
Construction - custom			1,427						—						—						(208)						1,219
Land - consumer lot loans			2,564						—						—						(37)						2,527
HELOC			3,049						—						1						108						3,158
Consumer			2,817						(265)						81						400						3,033
Total consumer loans			50,380						(265)						538						1,401						52,054
Total ACL - loans			$	203,753					$	(785)					$	554					$	1,000					$	204,522

1Provision & transfer amounts within the table do not include provision recapture from unfunded commitments of $1,000,000.

Three Months Ended December 31, 2023			Beginning Allowance						Charge-offs						Recoveries						Provision & Transfers1						Ending Allowance
			(In thousands)
Commercial loans
Multi-family			$	13,155					$	—					$	—					$	636					$	13,791
Commercial real estate			28,842						—						2						163						29,007
Commercial & industrial			58,773						(62)						32						2,093						60,836
Construction			29,408						—						—						(545)						28,863
Land - acquisition & development			7,016						(18)						50						(390)						6,658
Total commercial loans			137,194						(80)						84						1,957						139,155
Consumer loans
Single-family residential			28,029						—						120						407						28,556
Construction - custom			2,781						—						—						(519)						2,262
Land - consumer lot loans			3,512						—						9						(176)						3,345
HELOC			2,859						—						1						113						2,973
Consumer			2,832						(213)						192						218						3,029
Total consumer loans			40,013						(213)						322						43						40,165
Total loans			$	177,207					$	(293)					$	406					$	2,000					$	179,320

1Provision & transfer amounts within the table do not include provision recapture from unfunded commitments of $2,000,000

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, 2024			Term Loans Amortized Cost Basis by Origination Year
			YTD 2025			2024			2023			2022			2021			Prior to 2021			Revolving Loans			Revolving to Term Loans			Total 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
Substandard			16,274			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			—			—			—			—			—			—			—			—			—
Substandard			153			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
Substandard			16,427			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, 2024			Term Loans Amortized Cost Basis by Origination Year
			YTD 2025			2024			2023			2022			2021			Prior to 2021			Revolving Loans			Revolving to Term Loans			Total 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, 2024			Term Loans Amortized Cost Basis by Origination Year
			2024			2023			2022			2021			2020			Prior to 2020			Revolving Loans			Revolving to Term Loans			Total 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
Substandard			2,142			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-offs			175			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
Substandard			82			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
Substandard			2,224			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, 2024			Term Loans Amortized Cost Basis by Origination Year
			2024			2023			2022			2021			2020			Prior to 2020			Revolving Loans			Revolving to Term Loans			Total 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, 2024			Internally Assigned Grade
			Pass						Special mention						Substandard						Doubtful						Loss						Total
			(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 estate			3,498,443						23,468						88,847						—						—						3,610,758
Commercial & industrial			2,157,318						61,317						185,084						—						—						2,403,719
Construction			1,324,045						21,494						36,885						624						—						1,383,048
Land - acquisition & development			145,176						—						1,433						—						—						146,609
Total commercial loans			11,770,360						118,626						392,711						3,234						—						12,284,931
Consumer loans
Single-family residential			8,345,441						—						17,440						—						—						8,362,881
Construction - custom			154,866						—						848						—						—						155,714
Land - consumer lot loans			106,481						—						8						—						—						106,489
HELOC			278,253						—						786						—						—						279,039
Consumer			75,539						—						430						—						—						75,969
Total consumer loans			8,960,580						—						19,512						—						—						8,980,092
Total			$	20,730,940					$	118,626					$	412,223					$	3,234					$	—					$	21,265,023
Total grade as a % of total loans			97.49		%				0.56		%				1.94		%				0.01		%				—		%

September 30, 2024			Internally Assigned Grade
			Pass						Special mention						Substandard						Doubtful						Loss						Total 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 estate			3,587,682						40,297						104,176						—						—						3,732,155
Commercial & industrial			2,107,780						21,264						203,688						—						—						2,332,732
Construction			1,392,332						3,221						28,463						—						—						1,424,016
Land - acquisition & development			159,919						—						398						—						—						160,317
Total commercial loans			11,723,996						77,159						404,265						—						—						12,205,420
Consumer loans
Single-family residential			8,258,812						—						21,488						—						—						8,280,300
Construction - custom			181,567						—						848						—						—						182,415
Land - consumer lot loans			108,060						—						—						—						—						108,060
HELOC			269,261						—						596						—						—						269,857
Consumer			73,824						—						231						—						—						74,055
Total consumer loans			8,891,524						—						23,163						—						—						8,914,687
Total loans			$	20,615,520					$	77,159					$	427,428					$	—					$	—					$	21,120,107
Total grade as a % of total gross loans			97.61		%				0.37		%				2.02		%				—		%				—		%

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

December 31, 2024			Performing Loans												Non-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 estate			3,584,466						99.3						26,292						0.7
Commercial & industrial			2,401,756						99.9						1,963						0.1
Construction			1,382,424						100.0						624						0.0
Land - acquisition & development			146,609						100.0						—						—
Total commercial loans			12,231,975						99.6						52,956						0.4
Consumer loans
Single-family residential			8,345,441						99.8						17,440						0.2
Construction - custom			154,866						99.5						848						0.5
Land - consumer lot loans			106,481						100.0						8						0.0
HELOC			278,253						99.7						786						0.3
Consumer			75,520						99.4						449						0.6
Total consumer loans			8,960,561						99.8						19,531						0.2
Total loans			$	21,192,536					99.7		%				$	72,487					0.3		%

September 30, 2024			Performing Loans												Non-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 estate			3,705,793						99.3						26,362						0.7
Commercial & industrial			2,332,732						100.0						—						—
Construction			1,422,896						99.9						1,120						0.1
Land - acquisition & development			160,243						100.0						74						—
Total commercial loans			12,159,121						99.6						46,299						0.4
Consumer loans
Single-family residential			8,258,812						99.7						21,488						0.3
Construction - custom			181,567						99.5						848						0.5
Land - consumer lot loans			108,060						100.0						—						—
HELOC			269,261						99.8						596						0.2
Consumer			73,745						99.6						310						0.4
Total consumer loans			8,891,445						99.7						23,242						0.3
Total loans			$	21,050,566					99.7		%				$	69,541					0.3		%

X

- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481962/310-10-50-11B

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-13

+ Details

Name:	us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

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://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 29
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481962/310-10-50-29

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-5

+ Details

Name:	us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_ReceivablesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration