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Loans Receivable and Allowance for Credit Losses (Tables) | 6 Months Ended
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Jun. 30, 2020
Loans and Leases Receivable Disclosure [Abstract] |
Schedule of composition of loans held-for-investment | The following table presents the composition of the Company’s loans held-for-investment as of June 30, 2020 and December 31, 2019:
($ in thousands) |  | June 30, 2020 |  | December 31, 2019 |  |  |  |
|  | Amortized Cost (1) |  | Non-PCI Loans (1) |  | PCI Loans |  | Total (1)
Commercial: |  |  |  |  |  |  |  |
C&I |  | $ | 13,422,691 |  |  | $ | 12,149,121 |  |  | $ | 1,810 |  |  | $ | 12,150,931 |
CRE: |  |  |  |  |  |  |  |
CRE |  | 10,902,114 |  |  | 10,165,247 |  |  | 113,201 |  |  | 10,278,448 |
Multifamily residential |  | 3,032,385 |  |  | 2,834,212 |  |  | 22,162 |  |  | 2,856,374 |
Construction and land |  | 567,716 |  |  | 628,459 |  |  | 40 |  |  | 628,499 |
Total CRE |  | 14,502,215 |  |  | 13,627,918 |  |  | 135,403 |  |  | 13,763,321 |
Total commercial |  | 27,924,906 |  |  | 25,777,039 |  |  | 137,213 |  |  | 25,914,252 |
Consumer: |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |
Single-family residential |  | 7,660,094 |  |  | 7,028,979 |  |  | 79,611 |  |  | 7,108,590 |
HELOCs |  | 1,461,951 |  |  | 1,466,736 |  |  | 6,047 |  |  | 1,472,783 |
Total residential mortgage |  | 9,122,045 |  |  | 8,495,715 |  |  | 85,658 |  |  | 8,581,373 |
Other consumer |  | 182,461 |  |  | 282,914 |  |  | — |  |  | 282,914 |
Total consumer |  | 9,304,506 |  |  | 8,778,629 |  |  | 85,658 |  |  | 8,864,287 |
Total loans held-for-investment |  | $ | 37,229,412 |  |  | $ | 34,555,668 |  |  | $ | 222,871 |  |  | $ | 34,778,539 |
Allowance for loan losses |  | (632,071) |  |  | (358,287) |  |  | — |  |  | (358,287) |
Loans held-for-investment, net |  | $ | 36,597,341 |  |  | $ | 34,197,381 |  |  | $ | 222,871 |  |  | $ | 34,420,252 |
(1)Includes net deferred loan fees, unearned fees, unamortized premiums and unaccreted discounts of $(72.1) million and $(43.2) million as of June 30, 2020 and December 31, 2019, respectively.
Schedule of loans held-for-investment by loan portfolio segments, internal risk ratings and vintage year/non-PCI and PCI loans by portfolio segments | The following table summarizes the Company’s loans held-for-investment as of June 30, 2020, presented by loan portfolio segments, internal risk ratings and vintage year. The vintage year is the year of origination, renewal or major modification.
($ in thousands) |  | June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving Loans Amortized Cost Basis |  | Revolving Loans Converted to Term Loans Amortized Cost Basis |  |
|  | Term Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total
|  | Amortized Cost Basis by Origination Year |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 2,922,977 |  |  | $ | 2,010,048 |  |  | $ | 818,374 |  |  | $ | 328,471 |  |  | $ | 85,000 |  |  | $ | 380,727 |  |  | $ | 6,007,247 |  |  | $ | 9,830 |  |  | $ | 12,562,674 |
Special mention |  | 525 |  |  | 80,449 |  |  | 54,144 |  |  | 22,757 |  |  | 150 |  |  | 6,105 |  |  | 251,461 |  |  | — |  |  | 415,591 |
Substandard |  | 8,102 |  |  | 82,574 |  |  | 52,383 |  |  | 7,979 |  |  | 6,313 |  |  | 2,515 |  |  | 283,335 |  |  | — |  |  | 443,201 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | 964 |  |  | 261 |  |  | — |  |  | — |  |  | 1,225 |
Total C&I |  | 2,931,604 |  |  | 2,173,071 |  |  | 924,901 |  |  | 359,207 |  |  | 92,427 |  |  | 389,608 |  |  | 6,542,043 |  |  | 9,830 |  |  | 13,422,691 |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 1,249,819 |  |  | 2,859,844 |  |  | 2,410,797 |  |  | 1,380,086 |  |  | 794,228 |  |  | 1,722,081 |  |  | 170,556 |  |  | 10,716 |  |  | 10,598,127 |
Special mention |  | 13,072 |  |  | — |  |  | 49,860 |  |  | 22,468 |  |  | 1,611 |  |  | 45,309 |  |  | — |  |  | — |  |  | 132,320 |
Substandard |  | 8,303 |  |  | 51,944 |  |  | 7,711 |  |  | 43,914 |  |  | 17,213 |  |  | 42,582 |  |  | — |  |  | — |  |  | 171,667 |
Total CRE |  | 1,271,194 |  |  | 2,911,788 |  |  | 2,468,368 |  |  | 1,446,468 |  |  | 813,052 |  |  | 1,809,972 |  |  | 170,556 |  |  | 10,716 |  |  | 10,902,114 |
Multifamily residential: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 489,855 |  |  | 1,045,053 |  |  | 507,413 |  |  | 414,771 |  |  | 181,265 |  |  | 357,680 |  |  | 5,809 |  |  | — |  |  | 3,001,846 |
Special mention |  | — |  |  | 20,433 |  |  | — |  |  | — |  |  | 262 |  |  | 1,228 |  |  | — |  |  | — |  |  | 21,923 |
Substandard |  | — |  |  | 744 |  |  | 2,150 |  |  | — |  |  | — |  |  | 5,722 |  |  | — |  |  | — |  |  | 8,616 |
Total multifamily residential |  | 489,855 |  |  | 1,066,230 |  |  | 509,563 |  |  | 414,771 |  |  | 181,527 |  |  | 364,630 |  |  | 5,809 |  |  | — |  |  | 3,032,385 |
Construction and land: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 46,378 |  |  | 283,670 |  |  | 185,570 |  |  | 5,982 |  |  | 21,636 |  |  | 1,170 |  |  | — |  |  | — |  |  | 544,406 |
Substandard |  | 3,618 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 19,692 |  |  | — |  |  | — |  |  | 23,310 |
Total construction and land |  | 49,996 |  |  | 283,670 |  |  | 185,570 |  |  | 5,982 |  |  | 21,636 |  |  | 20,862 |  |  | — |  |  | — |  |  | 567,716 |
Total CRE |  | 1,811,045 |  |  | 4,261,688 |  |  | 3,163,501 |  |  | 1,867,221 |  |  | 1,016,215 |  |  | 2,195,464 |  |  | 176,365 |  |  | 10,716 |  |  | 14,502,215 |
Total commercial |  | 4,742,649 |  |  | 6,434,759 |  |  | 4,088,402 |  |  | 2,226,428 |  |  | 1,108,642 |  |  | 2,585,072 |  |  | 6,718,408 |  |  | 20,546 |  |  | 27,924,906 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 1,150,786 |  |  | 1,987,025 |  |  | 1,694,022 |  |  | 1,162,434 |  |  | 593,501 |  |  | 1,047,965 |  |  | — |  |  | — |  |  | 7,635,733 |
Special mention |  | — |  |  | 637 |  |  | 1,601 |  |  | 836 |  |  | 305 |  |  | 1,834 |  |  | — |  |  | — |  |  | 5,213 |
Substandard |  | — |  |  | 1,393 |  |  | 3,256 |  |  | 3,382 |  |  | 1,349 |  |  | 9,768 |  |  | — |  |  | — |  |  | 19,148 |
Total single-family residential mortgage |  | 1,150,786 |  |  | 1,989,055 |  |  | 1,698,879 |  |  | 1,166,652 |  |  | 595,155 |  |  | 1,059,567 |  |  | — |  |  | — |  |  | 7,660,094 |
HELOCs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 185 |  |  | 836 |  |  | 4,417 |  |  | 7,949 |  |  | 7,511 |  |  | 18,097 |  |  | 1,239,458 |  |  | 168,658 |  |  | 1,447,111 |
Special mention |  | — |  |  | — |  |  | 200 |  |  | — |  |  | — |  |  | 380 |  |  | 2 |  |  | 190 |  |  | 772 |
Substandard |  | — |  |  | 151 |  |  | 788 |  |  | 4,632 |  |  | 1,308 |  |  | 4,038 |  |  | — |  |  | 3,151 |  |  | 14,068 |
Total HELOCs |  | 185 |  |  | 987 |  |  | 5,405 |  |  | 12,581 |  |  | 8,819 |  |  | 22,515 |  |  | 1,239,460 |  |  | 171,999 |  |  | 1,461,951 |
Total residential mortgage |  | 1,150,971 |  |  | 1,990,042 |  |  | 1,704,284 |  |  | 1,179,233 |  |  | 603,974 |  |  | 1,082,082 |  |  | 1,239,460 |  |  | 171,999 |  |  | 9,122,045 |
Other consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 3,236 |  |  | 4,272 |  |  | 3,358 |  |  | 1,838 |  |  | — |  |  | 131,825 |  |  | 35,372 |  |  | — |  |  | 179,901 |
Special mention |  | 51 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 51 |
Substandard |  | 2 |  |  | — |  |  | — |  |  | 2,491 |  |  | — |  |  | 3 |  |  | 13 |  |  | — |  |  | 2,509 |
Total other consumer |  | 3,289 |  |  | 4,272 |  |  | 3,358 |  |  | 4,329 |  |  | — |  |  | 131,828 |  |  | 35,385 |  |  | — |  |  | 182,461 |
Total consumer |  | 1,154,260 |  |  | 1,994,314 |  |  | 1,707,642 |  |  | 1,183,562 |  |  | 603,974 |  |  | 1,213,910 |  |  | 1,274,845 |  |  | 171,999 |  |  | 9,304,506 |
Total |  | $ | 5,896,909 |  |  | $ | 8,429,073 |  |  | $ | 5,796,044 |  |  | $ | 3,409,990 |  |  | $ | 1,712,616 |  |  | $ | 3,798,982 |  |  | $ | 7,993,253 |  |  | $ | 192,545 |  |  | $ | 37,229,412 |
The following tables present the credit risk ratings for non-PCI and PCI loans by portfolio segments as of December 31, 2019:
($ in thousands) |  | December 31, 2019 |  |  |  |  |  |  |  |  |  |
|  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  |  |  | Total Non-PCI Loans
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
C&I |  | $ | 11,423,094 |  |  | $ | 406,543 |  |  | $ | 302,509 |  |  | $ | 16,975 |  |  |  |  | $ | 12,149,121 |
CRE: |  |  |  |  |  |  |  |  |  |  |  |
CRE |  | 10,003,749 |  |  | 83,683 |  |  | 77,815 |  |  | — |  |  |  |  | 10,165,247 |
Multifamily residential |  | 2,806,475 |  |  | 20,406 |  |  | 7,331 |  |  | — |  |  |  |  | 2,834,212 |
Construction and land |  | 603,447 |  |  | — |  |  | 25,012 |  |  | — |  |  |  |  | 628,459 |
Total CRE |  | 13,413,671 |  |  | 104,089 |  |  | 110,158 |  |  | — |  |  |  |  | 13,627,918 |
Total commercial |  | 24,836,765 |  |  | 510,632 |  |  | 412,667 |  |  | 16,975 |  |  |  |  | 25,777,039 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | 7,012,522 |  |  | 2,278 |  |  | 14,179 |  |  | — |  |  |  |  | 7,028,979 |
HELOCs |  | 1,453,207 |  |  | 2,787 |  |  | 10,742 |  |  | — |  |  |  |  | 1,466,736 |
Total residential mortgage |  | 8,465,729 |  |  | 5,065 |  |  | 24,921 |  |  | — |  |  |  |  | 8,495,715 |
Other consumer |  | 280,392 |  |  | 5 |  |  | 2,517 |  |  | — |  |  |  |  | 282,914 |
Total consumer |  | 8,746,121 |  |  | 5,070 |  |  | 27,438 |  |  | — |  |  |  |  | 8,778,629 |
Total |  | $ | 33,582,886 |  |  | $ | 515,702 |  |  | $ | 440,105 |  |  | $ | 16,975 |  |  |  |  | $ | 34,555,668 |
($ in thousands) |  | December 31, 2019 |  |  |  |  |  |  |  |  |  |
|  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  |  |  | Total PCI Loans
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
C&I |  | $ | 1,810 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 1,810 |
CRE: |  |  |  |  |  |  |  |  |  |  |  |
CRE |  | 102,257 |  |  | — |  |  | 10,944 |  |  | — |  |  |  |  | 113,201 |
Multifamily residential |  | 22,162 |  |  | — |  |  | — |  |  | — |  |  |  |  | 22,162 |
Construction and land |  | 40 |  |  | — |  |  | — |  |  | — |  |  |  |  | 40 |
Total CRE |  | 124,459 |  |  | — |  |  | 10,944 |  |  | — |  |  |  |  | 135,403 |
Total commercial |  | 126,269 |  |  | — |  |  | 10,944 |  |  | — |  |  |  |  | 137,213 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | 79,517 |  |  | — |  |  | 94 |  |  | — |  |  |  |  | 79,611 |
HELOCs |  | 5,849 |  |  | — |  |  | 198 |  |  | — |  |  |  |  | 6,047 |
Total residential mortgage |  | 85,366 |  |  | — |  |  | 292 |  |  | — |  |  |  |  | 85,658 |
Total consumer |  | 85,366 |  |  | — |  |  | 292 |  |  | — |  |  |  |  | 85,658 |
Total (1) |  | $ | 211,635 |  |  | $ | — |  |  | $ | 11,236 |  |  | $ | — |  |  |  |  | $ | 222,871 |
(1)Loans net of ASC 310-10 discount.
Schedule of aging analysis of loans | The following table presents the aging analysis of total loans held-for-investment as of June 30, 2020:
($ in thousands) |  | June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Current Accruing Loans |  | Accruing Loans 30-59 Days Past Due |  | Accruing Loans 60-89 Days Past Due |  |  |  |  |  | Total Accruing Past Due Loans |  | Nonaccrual Loans Less Than 90 Days Past Due |  | Nonaccrual Loans 90 or More Days Past Due |  | Total Nonaccrual Loans |  | Total Loans |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  | $ | 13,277,732 |  |  | $ | 46,774 |  |  | $ | 13,362 |  |  |  |  |  |  | $ | 60,136 |  |  | $ | 54,555 |  |  | $ | 30,268 |  |  | $ | 84,823 |  |  | $ | 13,422,691 |  |  |  |  |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  | 10,836,810 |  |  | 7,452 |  |  | 1,275 |  |  |  |  |  |  | 8,727 |  |  | 1,210 |  |  | 55,367 |  |  | 56,577 |  |  | 10,902,114 |  |  |  |  |
Multifamily residential |  | 3,025,648 |  |  | 3,655 |  |  | 2,308 |  |  |  |  |  |  | 5,963 |  |  | 774 |  |  | — |  |  | 774 |  |  | 3,032,385 |  |  |  |  |
Construction and land |  | 567,716 |  |  | — |  |  | — |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 567,716 |  |  |  |  |
Total CRE |  | 14,430,174 |  |  | 11,107 |  |  | 3,583 |  |  |  |  |  |  | 14,690 |  |  | 1,984 |  |  | 55,367 |  |  | 57,351 |  |  | 14,502,215 |  |  |  |  |
Total commercial |  | 27,707,906 |  |  | 57,881 |  |  | 16,945 |  |  |  |  |  |  | 74,826 |  |  | 56,539 |  |  | 85,635 |  |  | 142,174 |  |  | 27,924,906 |  |  |  |  |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | 7,619,333 |  |  | 15,739 |  |  | 4,952 |  |  |  |  |  |  | 20,691 |  |  | 1,713 |  |  | 18,357 |  |  | 20,070 |  |  | 7,660,094 |  |  |  |  |
HELOCs |  | 1,444,945 |  |  | 2,165 |  |  | 773 |  |  |  |  |  |  | 2,938 |  |  | 443 |  |  | 13,625 |  |  | 14,068 |  |  | 1,461,951 |  |  |  |  |
Total residential mortgage |  | 9,064,278 |  |  | 17,904 |  |  | 5,725 |  |  |  |  |  |  | 23,629 |  |  | 2,156 |  |  | 31,982 |  |  | 34,138 |  |  | 9,122,045 |  |  |  |  |
Other consumer |  | 165,258 |  |  | 14,636 |  |  | 59 |  |  |  |  |  |  | 14,695 |  |  | — |  |  | 2,508 |  |  | 2,508 |  |  | 182,461 |  |  |  |  |
Total consumer |  | 9,229,536 |  |  | 32,540 |  |  | 5,784 |  |  |  |  |  |  | 38,324 |  |  | 2,156 |  |  | 34,490 |  |  | 36,646 |  |  | 9,304,506 |  |  |  |  |
Total |  | $ | 36,937,442 |  |  | $ | 90,421 |  |  | $ | 22,729 |  |  |  |  |  |  | $ | 113,150 |  |  | $ | 58,695 |  |  | $ | 120,125 |  |  | $ | 178,820 |  |  | $ | 37,229,412 |  |  |  |  |
The following table presents the aging analysis of non-PCI loans as of December 31, 2019:
($ in thousands) |  | December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Current Accruing Loans |  | Accruing Loans 30-59 Days Past Due |  | Accruing Loans 60-89 Days Past Due |  |  |  | Total Accruing Past Due Loans |  | Nonaccrual Loans Less Than 90 Days Past Due |  | Nonaccrual Loans 90 or More Days Past Due |  | Total Nonaccrual Loans |  | Total Non-PCI Loans
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  | $ | 12,026,131 |  |  | $ | 31,121 |  |  | $ | 17,034 |  |  |  |  | $ | 48,155 |  |  | $ | 31,084 |  |  | $ | 43,751 |  |  | $ | 74,835 |  |  | $ | 12,149,121 |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  | 10,123,999 |  |  | 22,830 |  |  | 1,977 |  |  |  |  | 24,807 |  |  | 540 |  |  | 15,901 |  |  | 16,441 |  |  | 10,165,247 |
Multifamily residential |  | 2,832,664 |  |  | 198 |  |  | 531 |  |  |  |  | 729 |  |  | 534 |  |  | 285 |  |  | 819 |  |  | 2,834,212 |
Construction and land |  | 628,459 |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 628,459 |
Total CRE |  | 13,585,122 |  |  | 23,028 |  |  | 2,508 |  |  |  |  | 25,536 |  |  | 1,074 |  |  | 16,186 |  |  | 17,260 |  |  | 13,627,918 |
Total commercial |  | 25,611,253 |  |  | 54,149 |  |  | 19,542 |  |  |  |  | 73,691 |  |  | 32,158 |  |  | 59,937 |  |  | 92,095 |  |  | 25,777,039 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | 6,993,597 |  |  | 15,443 |  |  | 5,074 |  |  |  |  | 20,517 |  |  | 1,964 |  |  | 12,901 |  |  | 14,865 |  |  | 7,028,979 |
HELOCs |  | 1,448,930 |  |  | 4,273 |  |  | 2,791 |  |  |  |  | 7,064 |  |  | 1,448 |  |  | 9,294 |  |  | 10,742 |  |  | 1,466,736 |
Total residential mortgage |  | 8,442,527 |  |  | 19,716 |  |  | 7,865 |  |  |  |  | 27,581 |  |  | 3,412 |  |  | 22,195 |  |  | 25,607 |  |  | 8,495,715 |
Other consumer |  | 280,386 |  |  | 6 |  |  | 5 |  |  |  |  | 11 |  |  | — |  |  | 2,517 |  |  | 2,517 |  |  | 282,914 |
Total consumer |  | 8,722,913 |  |  | 19,722 |  |  | 7,870 |  |  |  |  | 27,592 |  |  | 3,412 |  |  | 24,712 |  |  | 28,124 |  |  | 8,778,629 |
Total |  | $ | 34,334,166 |  |  | $ | 73,871 |  |  | $ | 27,412 |  |  |  |  | $ | 101,283 |  |  | $ | 35,570 |  |  | $ | 84,649 |  |  | $ | 120,219 |  |  | $ | 34,555,668 |
Schedule of amortized cost of loans on nonaccrual status with no related allowance for loan losses | The following table presents amortized cost of loans on nonaccrual status for which there was no related allowance for loan losses as of June 30, 2020:
($ in thousands) |  | June 30, 2020
Commercial: |  |
C&I |  | $ | 66,109 |
CRE: |  |
CRE |  | 54,879 |
Total CRE |  | 54,879 |
Total commercial |  | 120,988 |
Consumer: |  |
Residential mortgage: |  |
Single-family residential |  | 8,642 |
HELOCs |  | 8,898 |
Total residential mortgage |  | 17,540 |
Other consumer |  | 2,491 |
Total consumer |  | 20,031 |
Total nonaccrual loans with no related allowance for loan losses |  | $ | 141,019 |
Summary of additions and modifications to troubled debt restructurings | The following tables present the additions to TDRs for the three and six months ended June 30, 2020 and 2019:
($ in thousands) |  | Loans Modified as TDRs During the Three Months Ended June 30, |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2020 |  |  |  |  |  |  |  | 2019 |  |  |  |  |  |
|  | Number of Loans |  | Pre- Modification Outstanding Recorded Investment |  | Post- Modification Outstanding Recorded Investment (1) |  | Financial  Impact (2) |  | Number of Loans |  | Pre- Modification Outstanding Recorded Investment |  | Post- Modification Outstanding Recorded Investment (1) |  | Financial Impact (2)
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  | 3 |  | $ | 35,260 |  |  | $ | 28,926 |  |  | $ | 872 |  |  | 6 |  | $ | 48,099 |  |  | $ | 48,054 |  |  | $ | 5,869 |
Total commercial |  | 3 |  | 35,260 |  |  | 28,926 |  |  | 872 |  |  | 6 |  | 48,099 |  |  | 48,054 |  |  | 5,869 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | — |  | — |  |  | — |  |  | — |  |  | 1 |  | 220 |  |  | 219 |  |  | — |
Total residential mortgage |  | — |  | — |  |  | — |  |  | — |  |  | 1 |  | 220 |  |  | 219 |  |  | — |
Total consumer |  | — |  | — |  |  | — |  |  | — |  |  | 1 |  | 220 |  |  | 219 |  |  | — |
Total |  | 3 |  | $ | 35,260 |  |  | $ | 28,926 |  |  | $ | 872 |  |  | 7 |  | $ | 48,319 |  |  | $ | 48,273 |  |  | $ | 5,869 |
($ in thousands) |  | Loans Modified as TDRs During the Six Months Ended June 30, |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2020 |  |  |  |  |  |  |  | 2019 |  |  |  |  |  |
|  | Number of Loans |  | Pre- Modification Outstanding Recorded Investment |  | Post- Modification Outstanding Recorded Investment (1) |  | Financial Impact (2) |  | Number of Loans |  | Pre- Modification Outstanding Recorded Investment |  | Post- Modification Outstanding Recorded Investment (1) |  | Financial Impact (2)
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  | 6 |  | $ | 51,708 |  |  | $ | 43,833 |  |  | $ | 1,000 |  |  | 9 |  | $ | 77,250 |  |  | $ | 77,486 |  |  | $ | 5,929 |
Total commercial |  | 6 |  | 51,708 |  |  | 43,833 |  |  | 1,000 |  |  | 9 |  | 77,250 |  |  | 77,486 |  |  | 5,929 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | — |  | — |  |  | — |  |  | — |  |  | 1 |  | 220 |  |  | 219 |  |  | — |
Total residential mortgage |  | — |  | — |  |  | — |  |  | — |  |  | 1 |  | 220 |  |  | 219 |  |  | — |
Total consumer |  | — |  | — |  |  | — |  |  | — |  |  | 1 |  | 220 |  |  | 219 |  |  | — |
Total |  | 6 |  | $ | 51,708 |  |  | $ | 43,833 |  |  | $ | 1,000 |  |  | 10 |  | $ | 77,470 |  |  | $ | 77,705 |  |  | $ | 5,929 |
(1)Includes subsequent payments after modification and reflects the balance as of June 30, 2020 and 2019. (2)The financial impact includes charge-offs and specific reserves recorded since the modification date. The following tables present the TDR post-modification outstanding balances for the three and six months ended June 30, 2020 and 2019 by modification type:
($ in thousands) |  | Modification Type During the Three Months Ended June 30, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2020 |  |  |  |  |  |  |  |  |  | 2019 |  |  |  |  |  |  |  |
|  | Principal (1) |  |  |  | Interest Deferments |  |  |  | Total |  | Principal (1) |  | Other (2) |  |  |  |  |  | Total
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  | $ | 11,766 |  |  |  |  | $ | 17,160 |  |  |  |  | $ | 28,926 |  |  | $ | 9,909 |  |  | $ | 38,145 |  |  |  |  |  |  | $ | 48,054 |
Total commercial |  | 11,766 |  |  |  |  | 17,160 |  |  |  |  | 28,926 |  |  | 9,909 |  |  | 38,145 |  |  |  |  |  |  | 48,054 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | — |  |  |  |  | — |  |  |  |  | — |  |  | — |  |  | 219 |  |  |  |  |  |  | 219 |
Total residential mortgage |  | — |  |  |  |  | — |  |  |  |  | — |  |  | — |  |  | 219 |  |  |  |  |  |  | 219 |
Total consumer |  | — |  |  |  |  | — |  |  |  |  | — |  |  | — |  |  | 219 |  |  |  |  |  |  | 219 |
Total |  | $ | 11,766 |  |  |  |  | $ | 17,160 |  |  |  |  | $ | 28,926 |  |  | $ | 9,909 |  |  | $ | 38,364 |  |  |  |  |  |  | $ | 48,273 |
($ in thousands) |  | Modification Type During the Six Months Ended June 30, |  |  |  |  |  |  |  |  |  |  |  |
|  | 2020 |  |  |  |  |  |  |  | 2019 |  |  |  |
|  | Principal (1) |  | Principal and Interest (3) |  | Interest Deferments |  | Total |  | Principal (1) |  | Other (2) |  | Total
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  | $ | 15,898 |  |  | $ | 10,775 |  |  | $ | 17,160 |  |  | $ | 43,833 |  |  | $ | 39,341 |  |  | $ | 38,145 |  |  | $ | 77,486 |
Total commercial |  | 15,898 |  |  | 10,775 |  |  | 17,160 |  |  | 43,833 |  |  | 39,341 |  |  | 38,145 |  |  | 77,486 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 219 |  |  | 219 |
Total residential mortgage |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 219 |  |  | 219 |
Total consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 219 |  |  | 219 |
Total |  | $ | 15,898 |  |  | $ | 10,775 |  |  | $ | 17,160 |  |  | $ | 43,833 |  |  | $ | 39,341 |  |  | $ | 38,364 |  |  | $ | 77,705 |
(1)Includes forbearance payments, term extensions and principal deferments that modify the terms of the loan from principal and interest payments to interest payments only. (2)Includes funding to secure additional collateral and provides liquidity to collateral-dependent C&I loans. (3)Includes principal and interest deferments or reductions.
Summary of TDR loans subsequently defaulted | The following tables present information on loans for which a subsequent payment default occurred during the three and six months ended June 30, 2020 and 2019, respectively, which had been modified as TDR within the previous 12 months of its default, and were still in default as of June 30, 2020 and 2019:
($ in thousands) |  | Loans Modified as TDRs that Subsequently Defaulted During the Three Months Ended June 30, |  |  |  |  |  |
|  | 2020 |  |  |  | 2019 |  |
|  | Number of Loans |  | Recorded Investment |  | Number of Loans |  | Recorded Investment
Commercial: |  |  |  |  |  |  |  |
C&I |  | 1 |  |  | $ | 17,160 |  |  | $ | 1 |  |  | $ | 1,484 |
Total commercial |  | 1 |  |  | 17,160 |  |  | 1 |  |  | 1,484 |
Total |  | 1 |  |  | $ | 17,160 |  |  | $ | 1 |  |  | $ | 1,484 |
($ in thousands) |  | Loans Modified as TDRs that Subsequently Defaulted During the Six Months Ended June 30, |  |  |  |  |  |
|  | 2020 |  |  |  | 2019 |  |
|  | Number of Loans |  | Recorded Investment |  | Number of Loans |  | Recorded Investment
Commercial: |  |  |  |  |  |  |  |
C&I |  | 1 |  |  | $ | 17,160 |  |  | $ | 1 |  |  | $ | 1,484 |
Total commercial |  | 1 |  |  | 17,160 |  |  | 1 |  |  | 1,484 |
Total |  | 1 |  |  | $ | 17,160 |  |  | $ | 1 |  |  | $ | 1,484 |
Summary of non-PCI impaired loans | The following table presents information on non-PCI impaired loans as of December 31, 2019:
($ in thousands) |  | December 31, 2019 |  |  |  |  |  |  |  |
|  | Unpaid Principal Balance |  | Recorded Investment With No Allowance |  | Recorded Investment With Allowance |  | Total Recorded Investment |  | Related Allowance
Commercial: |  |  |  |  |  |  |  |  |  |
C&I |  | $ | 174,656 |  |  | $ | 73,956 |  |  | $ | 40,086 |  |  | $ | 114,042 |  |  | $ | 2,881 |
CRE: |  |  |  |  |  |  |  |  |  |
CRE |  | 27,601 |  |  | 20,098 |  |  | 1,520 |  |  | 21,618 |  |  | 97 |
Multifamily residential |  | 4,965 |  |  | 1,371 |  |  | 3,093 |  |  | 4,464 |  |  | 55 |
Construction and land |  | 19,696 |  |  | 19,691 |  |  | — |  |  | 19,691 |  |  | — |
Total CRE |  | 52,262 |  |  | 41,160 |  |  | 4,613 |  |  | 45,773 |  |  | 152 |
Total commercial |  | 226,918 |  |  | 115,116 |  |  | 44,699 |  |  | 159,815 |  |  | 3,033 |
Consumer: |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |
Single-family residential |  | 23,626 |  |  | 8,507 |  |  | 13,704 |  |  | 22,211 |  |  | 35 |
HELOCs |  | 13,711 |  |  | 6,125 |  |  | 7,449 |  |  | 13,574 |  |  | 8 |
Total residential mortgage |  | 37,337 |  |  | 14,632 |  |  | 21,153 |  |  | 35,785 |  |  | 43 |
Other consumer |  | 2,517 |  |  | — |  |  | 2,517 |  |  | 2,517 |  |  | 2,517 |
Total consumer |  | 39,854 |  |  | 14,632 |  |  | 23,670 |  |  | 38,302 |  |  | 2,560 |
Total non-PCI impaired loans |  | $ | 266,772 |  |  | $ | 129,748 |  |  | $ | 68,369 |  |  | $ | 198,117 |  |  | $ | 5,593 |
Schedule of average recorded investment and interest income recognized on non-PCI impaired loans | The following table presents the average recorded investment and interest income recognized on non-PCI impaired loans for the three and six months ended June 30, 2019:
($ in thousands) |  |  |  |  |  |  |  |  |  | Three Months Ended June 30, 2019 |  |  |  | Six Months Ended June 30, 2019 |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Average Recorded Investment |  | Recognized Interest Income (1) |  | Average Recorded Investment |  | Recognized Interest Income (1) |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  |  |  |  |  |  |  |  |  | $ | 182,689 |  |  | $ | 1,081 |  |  | $ | 189,553 |  |  | $ | 1,816 |  |  |  |  |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  |  |  |  |  |  |  |  |  | 29,241 |  |  | 135 |  |  | 31,456 |  |  | 249 |  |  |  |  |
Multifamily residential |  |  |  |  |  |  |  |  |  | 5,852 |  |  | 61 |  |  | 5,883 |  |  | 121 |  |  |  |  |
Total CRE |  |  |  |  |  |  |  |  |  | 35,093 |  |  | 196 |  |  | 37,339 |  |  | 370 |  |  |  |  |
Total commercial |  |  |  |  |  |  |  |  |  | 217,782 |  |  | 1,277 |  |  | 226,892 |  |  | 2,186 |  |  |  |  |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  |  |  |  |  |  |  |  |  | 23,247 |  |  | 129 |  |  | 24,865 |  |  | 258 |  |  |  |  |
HELOCs |  |  |  |  |  |  |  |  |  | 13,564 |  |  | 38 |  |  | 15,321 |  |  | 56 |  |  |  |  |
Total residential mortgage |  |  |  |  |  |  |  |  |  | 36,811 |  |  | 167 |  |  | 40,186 |  |  | 314 |  |  |  |  |
Other consumer |  |  |  |  |  |  |  |  |  | 2,515 |  |  | — |  |  | 2,526 |  |  | — |  |  |  |  |
Total consumer |  |  |  |  |  |  |  |  |  | 39,326 |  |  | 167 |  |  | 42,712 |  |  | 314 |  |  |  |  |
Total non-PCI impaired loans |  |  |  |  |  |  |  |  |  | $ | 257,108 |  |  | $ | 1,444 |  |  | $ | 269,604 |  |  | $ | 2,500 |  |  |  |  |
(1)Includes interest income recognized on accruing non-PCI TDRs. Interest payments received on nonaccrual non-PCI loans are reflected as a reduction to principal, not as interest income.
Summary of activities in the allowance for credit losses | The following tables present summaries of activities in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2020 and 2019:
($ in thousands) |  | Three Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Commercial |  |  |  |  |  |  |  | Consumer |  |  |  |  |  | Total |  |  |  |
|  | C&I |  | CRE |  |  |  |  |  | Residential Mortgage |  |  |  | Other Consumer |  |  |  |  |  |
|  |  |  | CRE |  | Multi-Family Residential |  | Construction and Land |  | Single- Family Residential |  | HELOCs |  |  |  |  |  |  |  |
Allowance for loan losses, beginning of period |  | $ | 362,629 |  |  | $ | 132,819 |  |  | $ | 16,530 |  |  | $ | 11,018 |  |  | $ | 26,822 |  |  | $ | 3,881 |  |  | $ | 3,304 |  |  | $ | 557,003 |  |  |  |  |
Provision for (reversal of) credit losses on loans | (a) | 37,862 |  |  | 43,315 |  |  | 7,908 |  |  | 7,526 |  |  | (1,667) |  |  | 205 |  |  | (849) |  |  | 94,300 |  |  |  |  |
Gross charge-offs |  | (20,378) |  |  | (320) |  |  | — |  |  | — |  |  | — |  |  | (221) |  |  | (30) |  |  | (20,949) |  |  |  |  |
Gross recoveries |  | 602 |  |  | 226 |  |  | 620 |  |  | 7 |  |  | 159 |  |  | 2 |  |  | 93 |  |  | 1,709 |  |  |  |  |
Total net (charge-offs) recoveries |  | (19,776) |  |  | (94) |  |  | 620 |  |  | 7 |  |  | 159 |  |  | (219) |  |  | 63 |  |  | (19,240) |  |  |  |  |
Foreign currency translation adjustments |  | 8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8 |  |  |  |  |
Allowance for loan losses, end of period |  | $ | 380,723 |  |  | $ | 176,040 |  |  | $ | 25,058 |  |  | $ | 18,551 |  |  | $ | 25,314 |  |  | $ | 3,867 |  |  | $ | 2,518 |  |  | $ | 632,071 |  |  |  |  |
($ in thousands) |  | Three Months Ended June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Commercial |  |  |  |  |  |  |  | Consumer |  |  |  |  |  | Total |  |  |  |
|  | C&I |  | CRE |  |  |  |  |  | Residential Mortgage |  |  |  | Other Consumer |  |  |  |  |  |
|  |  |  | CRE |  | Multi-Family Residential |  | Construction and Land |  | Single- Family Residential |  | HELOCs |  |  |  |  |  |  |  |
Allowance for loan losses, beginning of period |  | $ | 189,757 |  |  | $ | 39,224 |  |  | $ | 19,169 |  |  | $ | 22,349 |  |  | $ | 35,759 |  |  | $ | 7,401 |  |  | $ | 4,235 |  |  | $ | 317,894 |  |  |  |  |
Provision for (reversal of) credit losses on loans | (a) | 26,140 |  |  | (1,250) |  |  | 58 |  |  | 173 |  |  | (3,068) |  |  | (1,224) |  |  | (98) |  |  | 20,731 |  |  |  |  |
Gross charge-offs |  | (11,745) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (14) |  |  | (11,759) |  |  |  |  |
Gross recoveries |  | 1,713 |  |  | 1,837 |  |  | 53 |  |  | 439 |  |  | 72 |  |  | — |  |  | 7 |  |  | 4,121 |  |  |  |  |
Total net (charge-offs) recoveries |  | (10,032) |  |  | 1,837 |  |  | 53 |  |  | 439 |  |  | 72 |  |  | — |  |  | (7) |  |  | (7,638) |  |  |  |  |
Foreign currency translation adjustments |  | (362) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (362) |  |  |  |  |
Allowance for loan losses, end of period |  | $ | 205,503 |  |  | $ | 39,811 |  |  | $ | 19,280 |  |  | $ | 22,961 |  |  | $ | 32,763 |  |  | $ | 6,177 |  |  | $ | 4,130 |  |  | $ | 330,625 |  |  |  |  |
($ in thousands) |  | Six Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Commercial |  |  |  |  |  |  |  | Consumer |  |  |  |  |  | Total |  |  |  |
|  | C&I |  | CRE |  |  |  |  |  | Residential Mortgage |  |  |  | Other Consumer |  |  |  |  |  |
|  |  |  | CRE |  | Multi-Family Residential |  | Construction and Land |  | Single- Family Residential |  | HELOCs |  |  |  |  |  |  |  |
Allowance for loan losses, beginning of period |  | $ | 238,376 |  |  | $ | 40,509 |  |  | $ | 22,826 |  |  | $ | 19,404 |  |  | $ | 28,527 |  |  | $ | 5,265 |  |  | $ | 3,380 |  |  | $ | 358,287 |  |  |  |  |
Impact of ASU 2016-13 adoption |  | 74,237 |  |  | 72,169 |  |  | (8,112) |  |  | (9,889) |  |  | (3,670) |  |  | (1,798) |  |  | 2,221 |  |  | 125,158 |  |  |  |  |
Allowance for loan losses, January 1, 2020 |  | 312,613 |  |  | 112,678 |  |  | 14,714 |  |  | 9,515 |  |  | 24,857 |  |  | 3,467 |  |  | 5,601 |  |  | 483,445 |  |  |  |  |
Provision for (reversal of) credit losses on loans | (a) | 98,480 |  |  | 54,750 |  |  | 9,189 |  |  | 9,008 |  |  | 33 |  |  | 617 |  |  | (3,121) |  |  | 168,956 |  |  |  |  |
Gross charge-offs |  | (32,355) |  |  | (1,274) |  |  | — |  |  | — |  |  | — |  |  | (221) |  |  | (56) |  |  | (33,906) |  |  |  |  |
Gross recoveries |  | 2,177 |  |  | 9,886 |  |  | 1,155 |  |  | 28 |  |  | 424 |  |  | 4 |  |  | 94 |  |  | 13,768 |  |  |  |  |
Total net (charge-offs) recoveries |  | (30,178) |  |  | 8,612 |  |  | 1,155 |  |  | 28 |  |  | 424 |  |  | (217) |  |  | 38 |  |  | (20,138) |  |  |  |  |
Foreign currency translation adjustments |  | (192) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (192) |  |  |  |  |
Allowance for loan losses, end of period |  | $ | 380,723 |  |  | $ | 176,040 |  |  | $ | 25,058 |  |  | $ | 18,551 |  |  | $ | 25,314 |  |  | $ | 3,867 |  |  | $ | 2,518 |  |  | $ | 632,071 |  |  |  |  |
($ in thousands) |  | Six Months Ended June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Commercial |  |  |  |  |  |  |  | Consumer |  |  |  |  |  | Total |  |  |  |
|  | C&I |  | CRE |  |  |  |  |  | Residential Mortgage |  |  |  | Other Consumer |  |  |  |  |  |
|  |  |  | CRE |  | Multi-Family Residential |  | Construction and Land |  | Single- Family Residential |  | HELOCs |  |  |  |  |  |  |  |
Allowance for loan losses, beginning of period |  | $ | 189,117 |  |  | $ | 40,666 |  |  | $ | 19,885 |  |  | $ | 20,290 |  |  | $ | 31,340 |  |  | $ | 5,774 |  |  | $ | 4,250 |  |  | $ | 311,322 |  |  |  |  |
Provision for (reversal of) credit losses on loans | (a) | 41,404 |  |  | (2,914) |  |  | (939) |  |  | 2,169 |  |  | 1,349 |  |  | 401 |  |  | (99) |  |  | 41,371 |  |  |  |  |
Gross charge-offs |  | (28,989) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (28) |  |  | (29,017) |  |  |  |  |
Gross recoveries |  | 3,964 |  |  | 2,059 |  |  | 334 |  |  | 502 |  |  | 74 |  |  | 2 |  |  | 7 |  |  | 6,942 |  |  |  |  |
Total net (charge-offs) recoveries |  | (25,025) |  |  | 2,059 |  |  | 334 |  |  | 502 |  |  | 74 |  |  | 2 |  |  | (21) |  |  | (22,075) |  |  |  |  |
Foreign currency translation adjustments |  | 7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7 |  |  |  |  |
Allowance for loan losses, end of period |  | $ | 205,503 |  |  | $ | 39,811 |  |  | $ | 19,280 |  |  | $ | 22,961 |  |  | $ | 32,763 |  |  | $ | 6,177 |  |  | $ | 4,130 |  |  | $ | 330,625 |  |  |  |  |
The following table presents a summary of activities in the allowance for unfunded credit commitments for the three and six months ended June 30, 2020 and 2019:
|  | Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
($ in thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Unfunded credit facilities |  |  |  |  |  |  |  |
Allowance for unfunded credit commitments, beginning of period |  | $ | 20,829 |  |  | $ | 14,505 |  |  | $ | 11,158 |  |  | $ | 12,566 |
Impact of ASU 2016-13 adoption |  | — |  |  | — |  |  | 10,457 |  |  | — |
Provision for (reversal of) credit losses on unfunded credit commitments | (b) | 8,143 |  |  | (1,486) |  |  | 7,357 |  |  | 453 |
Allowance for unfunded credit commitments, end of period |  | $ | 28,972 |  |  | $ | 13,019 |  |  | $ | 28,972 |  |  | $ | 13,019 |
Provision for credit losses | (a) + (b) | $ | 102,443 |  |  | $ | 19,245 |  |  | $ | 176,313 |  |  | $ | 41,824 |
Allowance for loan losses and recorded investments by loan type and impairment methodology | The following table presents the Company’s allowance for loan losses and recorded investments by portfolio segments and impairment methodology as of December 31, 2019. This is no longer relevant after December 31, 2019, given the adoption of ASU 2016-13 on January 1, 2020, which has a single impairment methodology:
($ in thousands) |  | December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Commercial |  |  |  |  |  |  |  | Consumer |  |  |  |  |  | Total
|  | C&I |  | CRE |  |  |  |  |  | Residential Mortgage |  |  |  | Other Consumer |  |
|  |  |  | CRE |  | Multifamily Residential |  | Construction and Land |  | Single- Family Residential |  | HELOCs |  |  |  |
Allowance for loan losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 2,881 |  |  | $ | 97 |  |  | $ | 55 |  |  | $ | — |  |  | $ | 35 |  |  | $ | 8 |  |  | $ | 2,517 |  |  | $ | 5,593 |
Collectively evaluated for impairment |  | 235,495 |  |  | 40,412 |  |  | 22,771 |  |  | 19,404 |  |  | 28,492 |  |  | 5,257 |  |  | 863 |  |  | 352,694 |
Acquired with deteriorated credit quality |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 238,376 |  |  | $ | 40,509 |  |  | $ | 22,826 |  |  | $ | 19,404 |  |  | $ | 28,527 |  |  | $ | 5,265 |  |  | $ | 3,380 |  |  | $ | 358,287 |
Recorded investment in loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 114,042 |  |  | $ | 21,618 |  |  | $ | 4,464 |  |  | $ | 19,691 |  |  | $ | 22,211 |  |  | $ | 13,574 |  |  | $ | 2,517 |  |  | $ | 198,117 |
Collectively evaluated for impairment |  | 12,035,079 |  |  | 10,143,629 |  |  | 2,829,748 |  |  | 608,768 |  |  | 7,006,768 |  |  | 1,453,162 |  |  | 280,397 |  |  | 34,357,551 |
Acquired with deteriorated credit quality (1) |  | 1,810 |  |  | 113,201 |  |  | 22,162 |  |  | 40 |  |  | 79,611 |  |  | 6,047 |  |  | — |  |  | 222,871 |
Total (1) |  | $ | 12,150,931 |  |  | $ | 10,278,448 |  |  | $ | 2,856,374 |  |  | $ | 628,499 |  |  | $ | 7,108,590 |  |  | $ | 1,472,783 |  |  | $ | 282,914 |  |  | $ | 34,778,539 |
(1)Loans net of ASC 310-10 discount.
Summary of changes in accretable yield on PCI loans | The following table presents the changes in accretable yield on PCI loans for the three and six months ended June 30, 2019:
($ in thousands) |  |  |  |  |  | Three Months Ended June 30, 2019 |  | Six Months Ended June 30, 2019 |  |
Accretable yield for PCI loans, beginning of period |  |  |  |  |  | $ | 68,861 |  |  | $ | 74,870 |  |  |
Accretion |  |  |  |  |  | (5,806) |  |  | (12,007) |  |  |
Changes in expected cash flows |  |  |  |  |  | 998 |  |  | 1,190 |  |  |
Accretable yield for PCI loans, end of period |  |  |  |  |  | $ | 64,053 |  |  | $ | 64,053 |  |  |
Schedule of carrying value of loans purchased for the held-for-investment portfolio, loans sold and loans transferred from held-for-investment to held-for-sale at lower of cost or fair value | The following tables provide information about the carrying value of loans purchased for the held-for-investment portfolio, loans sold and loans transferred from held-for-investment to held-for-sale at lower of cost or fair value during the three and six months ended June 30, 2020 and 2019:
($ in thousands) |  | Three Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Commercial |  |  |  |  |  |  |  | Consumer |  |  |  |  |  | Total
|  | C&I |  | CRE |  |  |  |  |  | Residential Mortgage |  |  |  |  |  |
|  |  |  | CRE |  | Multifamily Residential |  | Construction and Land |  | Single-Family Residential |  |  |  |  |  |
Loans transferred from held-for-investment to held-for-sale (1) |  | $ | 33,060 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 33,060 |
Sales (2)(3)(4) |  | $ | 33,060 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 13,708 |  |  |  |  |  |  | $ | 46,768 |
Purchases (5) |  | $ | 12,503 |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 12,510 |
($ in thousands) |  | Three Months Ended June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Commercial |  |  |  |  |  |  |  | Consumer |  |  |  |  |  | Total
|  | C&I |  | CRE |  |  |  |  |  | Residential Mortgage |  |  |  |  |  |
|  |  |  | CRE |  | Multifamily Residential |  | Construction and Land |  | Single-Family Residential |  |  |  |  |  |
Loans transferred from held-for-investment to held-for-sale (1) |  | $ | 79,593 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,573 |  |  | $ | — |  |  |  |  |  |  | $ | 81,166 |
Sales (2)(3)(4) |  | $ | 76,031 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,573 |  |  | $ | 1,172 |  |  |  |  |  |  | $ | 78,776 |
Purchases (5) |  | $ | 159,100 |  |  | $ | — |  |  | $ | 1,734 |  |  | $ | — |  |  | $ | 17,637 |  |  |  |  |  |  | $ | 178,471 |
($ in thousands) |  | Six Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Commercial |  |  |  |  |  |  |  | Consumer |  |  |  |  |  | Total
|  | C&I |  | CRE |  |  |  |  |  | Residential Mortgage |  |  |  |  |  |
|  |  |  | CRE |  | Multifamily Residential |  | Construction and Land |  | Single-Family Residential |  |  |  |  |  |
Loans transferred from held-for-investment to held-for-sale (1) |  | $ | 136,033 |  |  | $ | 7,250 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 143,283 |
Sales (2)(3)(4) |  | $ | 136,033 |  |  | $ | 7,250 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,350 |  |  |  |  |  |  | $ | 161,633 |
Purchases (5) |  | $ | 143,086 |  |  | $ | — |  |  | $ | 1,520 |  |  | $ | — |  |  | $ | 1,084 |  |  |  |  |  |  | $ | 145,690 |
($ in thousands) |  | Six Months Ended June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Commercial |  |  |  |  |  |  |  | Consumer |  |  |  |  |  | Total
|  | C&I |  | CRE |  |  |  |  |  | Residential Mortgage |  |  |  |  |  |
|  |  |  | CRE |  | Multifamily Residential |  | Construction and Land |  | Single-Family Residential |  |  |  |  |  |
Loans transferred from held-for-investment to held-for-sale (1) |  | $ | 155,166 |  |  | $ | 16,655 |  |  | $ | — |  |  | $ | 1,573 |  |  | $ | — |  |  |  |  |  |  | $ | 173,394 |
Sales (2)(3)(4) |  | $ | 151,677 |  |  | $ | 16,655 |  |  | $ | — |  |  | $ | 1,573 |  |  | $ | 3,614 |  |  |  |  |  |  | $ | 173,519 |
Purchases (5) |  | $ | 266,294 |  |  | $ | — |  |  | $ | 5,952 |  |  | $ | — |  |  | $ | 54,039 |  |  |  |  |  |  | $ | 326,285 |
(1)The Company recorded no write-downs to the allowance for loan losses related to loans transferred from held-for-investment to held-for-sale for both the three and six months ended June 30, 2020 and $317 thousand and $390 thousand for the same periods in 2019, respectively. (2)Includes originated loans sold of $46.8 million and $161.6 million for the three and six months ended June 30, 2020, respectively, and $55.7 million and $132.2 million for the same periods in 2019, respectively. Originated loans sold were primarily C&I and single-family residential loans during the three and six months ended June 30, 2020. In comparison, originated loans sold were primarily C&I loans for the same periods in 2019. (3)Includes none of the purchased loans sold in the secondary market for both the three and six months ended June 30, 2020 and $23.1 million and $41.3 million for the same periods in 2019, respectively. (4)Net gains on sales of loans were $132 thousand and $1.1 million for the three and six months ended June 30, 2020, respectively, and $15 thousand and $930 thousand for the same periods in 2019, respectively. (5)C&I loan purchases for each of the three and six months ended June 30, 2020 and 2019 were comprised primarily of syndicated C&I term loans.

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