Assets and Liabilities Measured at Fair Value (Tables)

12 Months Ended

Apr. 30, 2011

Assets and Liabilities Measured at Fair Value

Fair Value Assets and Liabilities Measured at Fair Value on a Recurring and Non-Recurring Basis

(dollars in 000s)
	Total			Level 1			Level 2			Level 3			Gain (loss)
As of April 30, 2011:
Recurring:
Mortgage-backed securities	$	158,177		$	–		$	158,177		$	–		$	207
Municipal bonds		8,740			–			8,740			–			405
Non-recurring:
REO		12,366			–			–			12,366			(1,920	)
Impaired mortgage loans held for investment		90,628			–			–			90,628			(11,390	)
	$	269,911		$	–		$	166,917		$	102,994		$	(12,698	)
As a percentage of total assets		5.2	%		–	%		3.2	%		2.0	%
As of April 30, 2010:
Recurring:
Mortgage-backed securities	$	23,016		$	–		$	23,016		$	–		$	(10	)
Municipal bonds		8,901			–			8,901			–			459
Trust preferred security		31			–			31			–			(1,823	)
Non-recurring:
REO		16,291			–			–			16,291			(4,430	)
Impaired mortgage loans held for investment		88,456			–			–			88,456			(9,453	)
	$	136,695		$	–		$	31,948		$	104,747		$	(15,257	)
As a percentage of total assets		2.6	%		–	%		0.6	%		2.0	%

Fair Value of Financial Instruments

(in 000s)
	Carrying		Estimated
	Amount		Fair Value
Mortgage loans held for investment	$	485,008	$	295,154
Deposits		863,898		865,318
Long-term debt		1,053,191		1,112,886
FHLB advances		25,000		24,998