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Loans Receivable and Allowance for Credit Losses (Tables) | 9 Months Ended
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Sep. 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 September 30, 2020 and December 31, 2019:
($ in thousands) |  | September 30, 2020 |  | December 31, 2019
| Amortized Cost (1) |  | Non-PCI Loans (1) |  | PCI Loans |  | Total (1)
Commercial: |  |  |  |  |  |  |  |
C&I (2) |  | $ | 13,305,024 |  |  | $ | 12,149,121 |  |  | $ | 1,810 |  |  | $ | 12,150,931 |
CRE: |  |  |  |  |  |  |  |
CRE |  | 11,037,987 |  |  | 10,165,247 |  |  | 113,201 |  |  | 10,278,448 |
Multifamily residential |  | 3,057,274 |  |  | 2,834,212 |  |  | 22,162 |  |  | 2,856,374 |
Construction and land |  | 578,407 |  |  | 628,459 |  |  | 40 |  |  | 628,499 |
Total CRE |  | 14,673,668 |  |  | 13,627,918 |  |  | 135,403 |  |  | 13,763,321 |
Total commercial |  | 27,978,692 |  |  | 25,777,039 |  |  | 137,213 |  |  | 25,914,252 |
Consumer: |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |
Single-family residential |  | 7,785,759 |  |  | 7,028,979 |  |  | 79,611 |  |  | 7,108,590 |
HELOCs |  | 1,514,388 |  |  | 1,466,736 |  |  | 6,047 |  |  | 1,472,783 |
Total residential mortgage |  | 9,300,147 |  |  | 8,495,715 |  |  | 85,658 |  |  | 8,581,373 |
Other consumer |  | 158,290 |  |  | 282,914 |  |  | — |  |  | 282,914 |
Total consumer |  | 9,458,437 |  |  | 8,778,629 |  |  | 85,658 |  |  | 8,864,287 |
Total loans held-for-investment |  | $ | 37,437,129 |  |  | $ | 34,555,668 |  |  | $ | 222,871 |  |  | $ | 34,778,539 |
Allowance for loan losses |  | (618,252) |  |  | (358,287) |  |  | — |  |  | (358,287) |
Loans held-for-investment, net |  | $ | 36,818,877 |  |  | $ | 34,197,381 |  |  | $ | 222,871 |  |  | $ | 34,420,252 |
(1)Includes net deferred loan fees, unearned fees, unamortized premiums and unaccreted discounts of $(67.0) million and $(43.2) million as of September 30, 2020 and December 31, 2019, respectively. (2)Includes PPP loans of $1.77 billion as of September 30, 2020.
Schedule of loans held-for-investment by loan portfolio segments, internal risk ratings and vintage year/Schedule of credit risk ratings for non-PCI and PCI loans by portfolio segments/Schedule of key credit risk characteristics and macroeconomic variables | The following table summarizes the Company’s loans held-for-investment as of September 30, 2020, presented by loan portfolio segments, internal risk ratings and vintage year. The vintage year is the year of origination, renewal or major modification.
($ in thousands) |  | September 30, 2020
| Term Loans |  | Revolving Loans Amortized Cost Basis |  | Revolving Loans Converted to Term Loans Amortized Cost Basis |  | Total
| Amortized Cost Basis by Origination Year |  |  |
| 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 3,445,214 |  |  | $ | 1,746,325 |  |  | $ | 674,022 |  |  | $ | 361,648 |  |  | $ | 72,914 |  |  | $ | 140,094 |  |  | $ | 5,954,875 |  |  | $ | 9,735 |  |  | $ | 12,404,827 |
Special mention |  | 5,466 |  |  | 55,742 |  |  | 103,052 |  |  | 11,576 |  |  | 129 |  |  | 2,085 |  |  | 234,394 |  |  | — |  |  | 412,444 |
Substandard |  | 42,386 |  |  | 95,152 |  |  | 30,772 |  |  | 24,972 |  |  | 6,254 |  |  | 6,004 |  |  | 281,302 |  |  | — |  |  | 486,842 |
Doubtful |  | 6 |  |  | — |  |  | — |  |  | — |  |  | 905 |  |  | — |  |  | — |  |  | — |  |  | 911 |
Total C&I |  | 3,493,072 |  |  | 1,897,219 |  |  | 807,846 |  |  | 398,196 |  |  | 80,202 |  |  | 148,183 |  |  | 6,470,571 |  |  | 9,735 |  |  | 13,305,024 |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 1,774,436 |  |  | 2,718,564 |  |  | 2,268,952 |  |  | 1,260,364 |  |  | 784,464 |  |  | 1,559,165 |  |  | 188,182 |  |  | 19,065 |  |  | 10,573,192 |
Special mention |  | 3,593 |  |  | 51,598 |  |  | 56,943 |  |  | 84,362 |  |  | 1,600 |  |  | 81,431 |  |  | — |  |  | — |  |  | 279,527 |
Substandard |  | 25,431 |  |  | 58,561 |  |  | 14,289 |  |  | 43,895 |  |  | 509 |  |  | 42,583 |  |  | — |  |  | — |  |  | 185,268 |
Total CRE |  | 1,803,460 |  |  | 2,828,723 |  |  | 2,340,184 |  |  | 1,388,621 |  |  | 786,573 |  |  | 1,683,179 |  |  | 188,182 |  |  | 19,065 |  |  | 11,037,987 |
Multifamily residential: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 692,581 |  |  | 956,657 |  |  | 493,769 |  |  | 386,329 |  |  | 146,346 |  |  | 318,675 |  |  | 5,342 |  |  | — |  |  | 2,999,699 |
Special mention |  | — |  |  | — |  |  | — |  |  | — |  |  | 24,602 |  |  | 986 |  |  | — |  |  | — |  |  | 25,588 |
Substandard |  | — |  |  | 739 |  |  | 23,807 |  |  | — |  |  | — |  |  | 7,441 |  |  | — |  |  | — |  |  | 31,987 |
Total multifamily residential |  | 692,581 |  |  | 957,396 |  |  | 517,576 |  |  | 386,329 |  |  | 170,948 |  |  | 327,102 |  |  | 5,342 |  |  | — |  |  | 3,057,274 |
Construction and land: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 118,823 |  |  | 253,079 |  |  | 155,371 |  |  | 5,248 |  |  | 21,371 |  |  | 1,158 |  |  | — |  |  | — |  |  | 555,050 |
Substandard |  | 3,565 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 19,792 |  |  | — |  |  | — |  |  | 23,357 |
Total construction and land |  | 122,388 |  |  | 253,079 |  |  | 155,371 |  |  | 5,248 |  |  | 21,371 |  |  | 20,950 |  |  | — |  |  | — |  |  | 578,407 |
Total CRE |  | 2,618,429 |  |  | 4,039,198 |  |  | 3,013,131 |  |  | 1,780,198 |  |  | 978,892 |  |  | 2,031,231 |  |  | 193,524 |  |  | 19,065 |  |  | 14,673,668 |
Total commercial |  | 6,111,501 |  |  | 5,936,417 |  |  | 3,820,977 |  |  | 2,178,394 |  |  | 1,059,094 |  |  | 2,179,414 |  |  | 6,664,095 |  |  | 28,800 |  |  | 27,978,692 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 1,619,709 |  |  | 1,916,265 |  |  | 1,603,227 |  |  | 1,086,999 |  |  | 561,422 |  |  | 978,167 |  |  | — |  |  | — |  |  | 7,765,789 |
Special mention |  | — |  |  | 227 |  |  | 347 |  |  | 351 |  |  | 324 |  |  | 3,474 |  |  | — |  |  | — |  |  | 4,723 |
Substandard |  | — |  |  | — |  |  | 1,474 |  |  | 2,159 |  |  | 858 |  |  | 10,756 |  |  | — |  |  | — |  |  | 15,247 |
Total single-family residential mortgage |  | 1,619,709 |  |  | 1,916,492 |  |  | 1,605,048 |  |  | 1,089,509 |  |  | 562,604 |  |  | 992,397 |  |  | — |  |  | — |  |  | 7,785,759 |
HELOCs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 7 |  |  | 454 |  |  | 2,823 |  |  | 5,993 |  |  | 4,666 |  |  | 18,891 |  |  | 1,260,001 |  |  | 208,520 |  |  | 1,501,355 |
Special mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 637 |  |  | 640 |
Substandard |  | — |  |  | — |  |  | 488 |  |  | 4,625 |  |  | 1,266 |  |  | 2,785 |  |  | — |  |  | 3,229 |  |  | 12,393 |
Total HELOCs |  | 7 |  |  | 454 |  |  | 3,311 |  |  | 10,618 |  |  | 5,932 |  |  | 21,676 |  |  | 1,260,004 |  |  | 212,386 |  |  | 1,514,388 |
Total residential mortgage |  | 1,619,716 |  |  | 1,916,946 |  |  | 1,608,359 |  |  | 1,100,127 |  |  | 568,536 |  |  | 1,014,073 |  |  | 1,260,004 |  |  | 212,386 |  |  | 9,300,147 |
Other consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 18,282 |  |  | 3,625 |  |  | 34 |  |  | 1,838 |  |  | — |  |  | 84,179 |  |  | 47,837 |  |  | — |  |  | 155,795 |
Substandard |  | — |  |  | — |  |  | — |  |  | 2,491 |  |  | — |  |  | — |  |  | 4 |  |  | — |  |  | 2,495 |
Total other consumer |  | 18,282 |  |  | 3,625 |  |  | 34 |  |  | 4,329 |  |  | — |  |  | 84,179 |  |  | 47,841 |  |  | — |  |  | 158,290 |
Total consumer |  | 1,637,998 |  |  | 1,920,571 |  |  | 1,608,393 |  |  | 1,104,456 |  |  | 568,536 |  |  | 1,098,252 |  |  | 1,307,845 |  |  | 212,386 |  |  | 9,458,437 |
Total |  | $ | 7,749,499 |  |  | $ | 7,856,988 |  |  | $ | 5,429,370 |  |  | $ | 3,282,850 |  |  | $ | 1,627,630 |  |  | $ | 3,277,666 |  |  | $ | 7,971,940 |  |  | $ | 241,186 |  |  | $ | 37,437,129 |
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. The following table provides key credit risk characteristics and macroeconomic variables that the Company uses to estimate the expected credit losses by portfolio segment:
Portfolio Segment |  | Risk Characteristics |  | Macroeconomic Variables
C&I |  | Internal risk rating; size and credit spread at origination, and time to maturity |  | Unemployment rate, and two and ten year treasury spread
CRE, Multifamily residential, and Construction and land |  | Delinquency status; maturity date; collateral value; property type, and geographic location |  | Unemployment rate; GDP, and U.S. Treasury rates
Single-family residential and HELOCs |  | FICO; delinquency status; maturity date; collateral value, and geographic location |  | Unemployment rate; GDP, and home price index
Other consumer |  | Historical loss experience |  | Immaterial (1)
(1)Macroeconomic variables are included in the qualitative estimate.
Schedule of aging analysis of loans | The following table presents the aging analysis of total loans held-for-investment as of September 30, 2020:
($ in thousands) |  | September 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 |  | $ | 13,105,895 |  |  | $ | 6,024 |  |  | $ | 47,119 |  |  |  |  |  |  | $ | 53,143 |  |  | $ | 110,068 |  |  | $ | 35,918 |  |  | $ | 145,986 |  |  | $ | 13,305,024 |  |  |  |  |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  | 10,973,345 |  |  | 8,646 |  |  | — |  |  |  |  |  |  | 8,646 |  |  | 1,338 |  |  | 54,658 |  |  | 55,996 |  |  | 11,037,987 |  |  |  |  |
Multifamily residential |  | 3,049,683 |  |  | 3,504 |  |  | 359 |  |  |  |  |  |  | 3,863 |  |  | 2,404 |  |  | 1,324 |  |  | 3,728 |  |  | 3,057,274 |  |  |  |  |
Construction and land |  | 578,407 |  |  | — |  |  | — |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 578,407 |  |  |  |  |
Total CRE |  | 14,601,435 |  |  | 12,150 |  |  | 359 |  |  |  |  |  |  | 12,509 |  |  | 3,742 |  |  | 55,982 |  |  | 59,724 |  |  | 14,673,668 |  |  |  |  |
Total commercial |  | 27,707,330 |  |  | 18,174 |  |  | 47,478 |  |  |  |  |  |  | 65,652 |  |  | 113,810 |  |  | 91,900 |  |  | 205,710 |  |  | 27,978,692 |  |  |  |  |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | 7,755,878 |  |  | 9,076 |  |  | 4,911 |  |  |  |  |  |  | 13,987 |  |  | 1,149 |  |  | 14,745 |  |  | 15,894 |  |  | 7,785,759 |  |  |  |  |
HELOCs |  | 1,497,315 |  |  | 4,038 |  |  | 640 |  |  |  |  |  |  | 4,678 |  |  | 580 |  |  | 11,815 |  |  | 12,395 |  |  | 1,514,388 |  |  |  |  |
Total residential mortgage |  | 9,253,193 |  |  | 13,114 |  |  | 5,551 |  |  |  |  |  |  | 18,665 |  |  | 1,729 |  |  | 26,560 |  |  | 28,289 |  |  | 9,300,147 |  |  |  |  |
Other consumer |  | 155,120 |  |  | 672 |  |  | 3 |  |  |  |  |  |  | 675 |  |  | — |  |  | 2,495 |  |  | 2,495 |  |  | 158,290 |  |  |  |  |
Total consumer |  | 9,408,313 |  |  | 13,786 |  |  | 5,554 |  |  |  |  |  |  | 19,340 |  |  | 1,729 |  |  | 29,055 |  |  | 30,784 |  |  | 9,458,437 |  |  |  |  |
Total |  | $ | 37,115,643 |  |  | $ | 31,960 |  |  | $ | 53,032 |  |  |  |  |  |  | $ | 84,992 |  |  | $ | 115,539 |  |  | $ | 120,955 |  |  | $ | 236,494 |  |  | $ | 37,437,129 |  |  |  |  |
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 September 30, 2020:
($ in thousands) |  | September 30, 2020
Commercial: |  |
C&I |  | $ | 95,475 |
CRE: |  |
CRE |  | 54,659 |
Multifamily residential |  | 2,550 |
Total CRE |  | 57,209 |
Total commercial |  | 152,684 |
Consumer: |  |
Residential mortgage: |  |
Single-family residential |  | 6,014 |
HELOCs |  | 8,339 |
Total residential mortgage |  | 14,353 |
Other consumer |  | 2,491 |
Total consumer |  | 16,844 |
Total nonaccrual loans with no related allowance for loan losses |  | $ | 169,528 |
Summary of additions and post-modification to troubled debt restructurings | The following tables present the additions to TDRs for the three and nine months ended September 30, 2020 and 2019:
($ in thousands) |  | Loans Modified as TDRs During the Three Months Ended September 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 |  | $ | 43,378 |  |  | $ | 35,568 |  |  | $ | 12,108 |  |  | 1 |  | $ | 7,933 |  |  | $ | 6,000 |  |  | $ | 2,396 |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  | 2 |  | 21,429 |  |  | 21,242 |  |  | 21 |  |  | — |  | — |  |  | — |  |  | — |
Multifamily residential |  | 1 |  | 1,220 |  |  | 1,226 |  |  | — |  |  | — |  | — |  |  | — |  |  | — |
Total CRE |  | 3 |  | 22,649 |  |  | 22,468 |  |  | 21 |  |  | — |  | — |  |  | — |  |  | — |
Total commercial |  | 9 |  | 66,027 |  |  | 58,036 |  |  | 12,129 |  |  | 1 |  | 7,933 |  |  | 6,000 |  |  | 2,396 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | — |  | — |  |  | — |  |  | — |  |  | 1 |  | 903 |  |  | 893 |  |  | — |
HELOCs |  | — |  | — |  |  | — |  |  | — |  |  | 1 |  | 139 |  |  | 136 |  |  | — |
Total residential mortgage |  | — |  | — |  |  | — |  |  | — |  |  | 2 |  | 1,042 |  |  | 1,029 |  |  | — |
Total consumer |  | — |  | — |  |  | — |  |  | — |  |  | 2 |  | 1,042 |  |  | 1,029 |  |  | — |
Total |  | 9 |  | $ | 66,027 |  |  | $ | 58,036 |  |  | $ | 12,129 |  |  | 3 |  | $ | 8,975 |  |  | $ | 7,029 |  |  | $ | 2,396 |
($ in thousands) |  | Loans Modified as TDRs During the Nine Months Ended September 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 |  | 11 |  | $ | 93,235 |  |  | $ | 79,713 |  |  | $ | 12,507 |  |  | 9 |  | $ | 85,073 |  |  | $ | 81,038 |  |  | $ | 9,231 |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  | 2 |  | 21,429 |  |  | 21,242 |  |  | 21 |  |  | — |  | — |  |  | — |  |  | — |
Multifamily residential |  | 1 |  | 1,220 |  |  | 1,226 |  |  | — |  |  | — |  | — |  |  | — |  |  | — |
Total CRE |  | 3 |  | 22,649 |  |  | 22,468 |  |  | 21 |  |  | — |  | — |  |  | — |  |  | — |
Total commercial |  | 14 |  | 115,884 |  |  | 102,181 |  |  | 12,528 |  |  | 9 |  | 85,073 |  |  | 81,038 |  |  | 9,231 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | — |  | — |  |  | — |  |  | — |  |  | 2 |  | 1,123 |  |  | 1,109 |  |  | 2 |
HELOCs |  | — |  | — |  |  | — |  |  | — |  |  | 1 |  | 139 |  |  | 136 |  |  | — |
Total residential mortgage |  | — |  | — |  |  | — |  |  | — |  |  | 3 |  | 1,262 |  |  | 1,245 |  |  | 2 |
Total consumer |  | — |  | — |  |  | — |  |  | — |  |  | 3 |  | 1,262 |  |  | 1,245 |  |  | 2 |
Total |  | 14 |  | $ | 115,884 |  |  | $ | 102,181 |  |  | $ | 12,528 |  |  | 12 |  | $ | 86,335 |  |  | $ | 82,283 |  |  | $ | 9,233 |
(1)Includes subsequent payments after modification and reflects the balance as of September 30, 2020 and 2019. (2)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 nine months ended September 30, 2020 and 2019 by modification type:
($ in thousands) |  | Modification Type During the Three Months Ended September 30,
| 2020 |  | 2019
| Principal (1) |  | Principal and Interest |  | Interest Deferments |  |  |  | Total |  | Principal (1) |  | Interest Deferments |  | Other |  |  |  |  |  | Total
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  | $ | 19,025 |  |  | $ | — |  |  | $ | 16,543 |  |  |  |  | $ | 35,568 |  |  | $ | 6,000 |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 6,000 |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  | 21,242 |  |  | — |  |  | — |  |  |  |  | 21,242 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Multifamily residential |  | 1,226 |  |  | — |  |  | — |  |  |  |  | 1,226 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total CRE |  | 22,468 |  |  | — |  |  | — |  |  |  |  | 22,468 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total commercial |  | 41,493 |  |  | — |  |  | 16,543 |  |  |  |  | 58,036 |  |  | 6,000 |  |  | — |  |  | — |  |  |  |  |  |  | 6,000 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | 893 |  |  | — |  |  |  |  |  |  | 893 |
HELOCs |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | 136 |  |  |  |  |  |  | 136 |
Total residential mortgage |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | 893 |  |  | 136 |  |  |  |  |  |  | 1,029 |
Total consumer |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | 893 |  |  | 136 |  |  |  |  |  |  | 1,029 |
Total |  | $ | 41,493 |  |  | $ | — |  |  | $ | 16,543 |  |  |  |  | $ | 58,036 |  |  | $ | 6,000 |  |  | $ | 893 |  |  | $ | 136 |  |  |  |  |  |  | $ | 7,029 |
($ in thousands) |  | Modification Type During the Nine Months Ended September 30,
| 2020 |  | 2019
| Principal (1) |  | Principal and Interest (2) |  | Interest Deferments |  | Total |  | Principal (1) |  | Interest Deferments |  | Other (3) |  | Total
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  | $ | 36,043 |  |  | $ | 10,819 |  |  | $ | 32,851 |  |  | $ | 79,713 |  |  | $ | 44,271 |  |  | $ | — |  |  | $ | 36,767 |  |  | $ | 81,038 |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  | 21,242 |  |  | — |  |  | — |  |  | 21,242 |  |  | — |  |  | — |  |  | — |  |  | — |
Multifamily residential |  | 1,226 |  |  | — |  |  | — |  |  | 1,226 |  |  | — |  |  | — |  |  | — |  |  | — |
Total CRE |  | 22,468 |  |  | — |  |  | — |  |  | 22,468 |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial |  | 58,511 |  |  | 10,819 |  |  | 32,851 |  |  | 102,181 |  |  | 44,271 |  |  | — |  |  | 36,767 |  |  | 81,038 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,109 |  |  | — |  |  | 1,109 |
HELOCs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 136 |  |  | 136 |
Total residential mortgage |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,109 |  |  | 136 |  |  | 1,245 |
Total consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,109 |  |  | 136 |  |  | 1,245 |
Total |  | $ | 58,511 |  |  | $ | 10,819 |  |  | $ | 32,851 |  |  | $ | 102,181 |  |  | $ | 44,271 |  |  | $ | 1,109 |  |  | $ | 36,903 |  |  | $ | 82,283 |
(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 principal and interest deferments or reductions. (3)Includes funding to secure additional collateral and provides liquidity to collateral-dependent C&I loans.
Summary of TDR loans subsequently defaulted | The following tables present information on loans for which a subsequent payment default occurred during the three and nine months ended September 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 September 30, 2020 and 2019:
($ in thousands) |  | Loans Modified as TDRs that Subsequently Defaulted During the Three Months Ended September 30,
| 2020 |  | 2019
| Number of Loans |  | Recorded Investment |  | Number of Loans |  | Recorded Investment
Commercial: |  |  |  |  |  |  |  |
C&I |  | — |  |  | $ | — |  |  | 4 |  |  | $ | 27,040 |
Total commercial |  | — |  |  | — |  |  | 4 |  |  | 27,040 |
Total |  | — |  |  | $ | — |  |  | 4 |  |  | $ | 27,040 |
($ in thousands) |  | Loans Modified as TDRs that Subsequently Defaulted During the Nine Months Ended September 30,
| 2020 |  | 2019
| Number of Loans |  | Recorded Investment |  | Number of Loans |  | Recorded Investment
Commercial: |  |  |  |  |  |  |  |
C&I |  | 1 |  |  | $ | 16,309 |  |  | 5 |  |  | $ | 28,415 |
Total commercial |  | 1 |  |  | 16,309 |  |  | 5 |  |  | 28,415 |
Total |  | 1 |  |  | $ | 16,309 |  |  | 5 |  |  | $ | 28,415 |
Summary of non-PCI impaired loans | Information on non-PCI impaired loans as of December 31, 2019 is presented as follows:
($ 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 nine months ended September 30, 2019:
($ in thousands) |  |  |  |  |  |  |  |  |  | Three Months Ended September 30, 2019 |  | Nine Months Ended September 30, 2019 |  |  |  |
|  |  |  |  |  |  |  |  | Average Recorded Investment |  | Recognized Interest Income (1) |  | Average Recorded Investment |  | Recognized Interest Income (1) |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  |  |  |  |  |  |  |  |  | $ | 150,063 |  |  | $ | 340 |  |  | $ | 198,024 |  |  | $ | 2,156 |  |  |  |  |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  |  |  |  |  |  |  |  |  | 28,846 |  |  | 114 |  |  | 33,329 |  |  | 363 |  |  |  |  |
Multifamily residential |  |  |  |  |  |  |  |  |  | 5,226 |  |  | 58 |  |  | 5,856 |  |  | 179 |  |  |  |  |
Total CRE |  |  |  |  |  |  |  |  |  | 34,072 |  |  | 172 |  |  | 39,185 |  |  | 542 |  |  |  |  |
Total commercial |  |  |  |  |  |  |  |  |  | 184,135 |  |  | 512 |  |  | 237,209 |  |  | 2,698 |  |  |  |  |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  |  |  |  |  |  |  |  |  | 23,779 |  |  | 124 |  |  | 27,758 |  |  | 382 |  |  |  |  |
HELOCs |  |  |  |  |  |  |  |  |  | 15,382 |  |  | 37 |  |  | 19,529 |  |  | 93 |  |  |  |  |
Total residential mortgage |  |  |  |  |  |  |  |  |  | 39,161 |  |  | 161 |  |  | 47,287 |  |  | 475 |  |  |  |  |
Other consumer |  |  |  |  |  |  |  |  |  | 2,504 |  |  | — |  |  | 2,526 |  |  | — |  |  |  |  |
Total consumer |  |  |  |  |  |  |  |  |  | 41,665 |  |  | 161 |  |  | 49,813 |  |  | 475 |  |  |  |  |
Total non-PCI impaired loans |  |  |  |  |  |  |  |  |  | $ | 225,800 |  |  | $ | 673 |  |  | $ | 287,022 |  |  | $ | 3,173 |  |  |  |  |
(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 activity in the allowance for credit losses | The following tables summarize the activity in the allowance for loan losses by portfolio segments for the three and nine months ended September 30, 2020 and 2019:
($ in thousands) |  | Three Months Ended September 30, 2020
| Commercial |  | Consumer |  | Total |  |  |  |
| C&I |  | CRE |  | Residential Mortgage |  | Other Consumer |  |  |  |  |
|  | CRE |  | Multifamily Residential |  | Construction and Land |  | Single- Family Residential |  | HELOCs |  |  |  |  |  |
Allowance for loan losses, beginning of period |  | $ | 380,723 |  |  | $ | 176,040 |  |  | $ | 25,058 |  |  | $ | 18,551 |  |  | $ | 25,314 |  |  | $ | 3,867 |  |  | $ | 2,518 |  |  | $ | 632,071 |  |  |  |  |
Provision for (reversal of) credit losses on loans | (a) | 31,691 |  |  | (8,301) |  |  | (1,916) |  |  | (8,180) |  |  | (2,692) |  |  | (637) |  |  | (76) |  |  | 9,889 |  |  |  |  |
Gross charge-offs |  | (25,111) |  |  | (1,414) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (124) |  |  | (26,649) |  |  |  |  |
Gross recoveries |  | 1,218 |  |  | 485 |  |  | 665 |  |  | 30 |  |  | — |  |  | 43 |  |  | — |  |  | 2,441 |  |  |  |  |
Total net (charge-offs) recoveries |  | (23,893) |  |  | (929) |  |  | 665 |  |  | 30 |  |  | — |  |  | 43 |  |  | (124) |  |  | (24,208) |  |  |  |  |
Foreign currency translation adjustment |  | 500 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 500 |  |  |  |  |
Allowance for loan losses, end of period |  | $ | 389,021 |  |  | $ | 166,810 |  |  | $ | 23,807 |  |  | $ | 10,401 |  |  | $ | 22,622 |  |  | $ | 3,273 |  |  | $ | 2,318 |  |  | $ | 618,252 |  |  |  |  |
($ in thousands) |  | Three Months Ended September 30, 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, beginning of period |  | $ | 205,503 |  |  | $ | 39,811 |  |  | $ | 19,280 |  |  | $ | 22,961 |  |  | $ | 32,763 |  |  | $ | 6,177 |  |  | $ | 4,130 |  |  | $ | 330,625 |  |  |  |  |
Provision for (reversal of) credit losses on loans | (a) | 37,281 |  |  | (3,213) |  |  | 985 |  |  | 6,189 |  |  | (2,877) |  |  | (326) |  |  | (160) |  |  | 37,879 |  |  |  |  |
Gross charge-offs |  | (25,098) |  |  | (1,021) |  |  | — |  |  | — |  |  | (11) |  |  | — |  |  | (12) |  |  | (26,142) |  |  |  |  |
Gross recoveries |  | 1,648 |  |  | 1,896 |  |  | 42 |  |  | 21 |  |  | 60 |  |  | 5 |  |  | 7 |  |  | 3,679 |  |  |  |  |
Total net (charge-offs) recoveries |  | (23,450) |  |  | 875 |  |  | 42 |  |  | 21 |  |  | 49 |  |  | 5 |  |  | (5) |  |  | (22,463) |  |  |  |  |
Foreign currency translation adjustment |  | (465) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (465) |  |  |  |  |
Allowance for loan losses, end of period |  | $ | 218,869 |  |  | $ | 37,473 |  |  | $ | 20,307 |  |  | $ | 29,171 |  |  | $ | 29,935 |  |  | $ | 5,856 |  |  | $ | 3,965 |  |  | $ | 345,576 |  |  |  |  |
($ in thousands) |  | Nine Months Ended September 30, 2020
| Commercial |  | Consumer |  | Total |  |  |  |
| C&I |  | CRE |  | Residential Mortgage |  | Other Consumer |  |  |
|  | CRE |  | Multifamily 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) | 130,171 |  |  | 46,449 |  |  | 7,273 |  |  | 828 |  |  | (2,659) |  |  | (20) |  |  | (3,197) |  |  | 178,845 |  |  |  |  |
Gross charge-offs |  | (57,466) |  |  | (2,688) |  |  | — |  |  | — |  |  | — |  |  | (221) |  |  | (180) |  |  | (60,555) |  |  |  |  |
Gross recoveries |  | 3,395 |  |  | 10,371 |  |  | 1,820 |  |  | 58 |  |  | 424 |  |  | 47 |  |  | 94 |  |  | 16,209 |  |  |  |  |
Total net (charge-offs) recoveries |  | (54,071) |  |  | 7,683 |  |  | 1,820 |  |  | 58 |  |  | 424 |  |  | (174) |  |  | (86) |  |  | (44,346) |  |  |  |  |
Foreign currency translation adjustment |  | 308 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 308 |  |  |  |  |
Allowance for loan losses, end of period |  | $ | 389,021 |  |  | $ | 166,810 |  |  | $ | 23,807 |  |  | $ | 10,401 |  |  | $ | 22,622 |  |  | $ | 3,273 |  |  | $ | 2,318 |  |  | $ | 618,252 |  |  |  |  |
($ in thousands) |  | Nine Months Ended September 30, 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, 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) | 78,685 |  |  | (6,127) |  |  | 46 |  |  | 8,358 |  |  | (1,528) |  |  | 75 |  |  | (259) |  |  | 79,250 |  |  |  |  |
Gross charge-offs |  | (54,087) |  |  | (1,021) |  |  | — |  |  | — |  |  | (11) |  |  | — |  |  | (40) |  |  | (55,159) |  |  |  |  |
Gross recoveries |  | 5,612 |  |  | 3,955 |  |  | 376 |  |  | 523 |  |  | 134 |  |  | 7 |  |  | 14 |  |  | 10,621 |  |  |  |  |
Total net (charge-offs) recoveries |  | (48,475) |  |  | 2,934 |  |  | 376 |  |  | 523 |  |  | 123 |  |  | 7 |  |  | (26) |  |  | (44,538) |  |  |  |  |
Foreign currency translation adjustment |  | (458) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (458) |  |  |  |  |
Allowance for loan losses, end of period |  | $ | 218,869 |  |  | $ | 37,473 |  |  | $ | 20,307 |  |  | $ | 29,171 |  |  | $ | 29,935 |  |  | $ | 5,856 |  |  | $ | 3,965 |  |  | $ | 345,576 |  |  |  |  |
The following table summarizes the activity in the allowance for unfunded credit commitments for the three and nine months ended September 30, 2020 and 2019:
($ in thousands) |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Unfunded credit facilities |  |  |  |  |  |  |  |
Allowance for unfunded credit commitments, beginning of period |  | $ | 28,972 |  |  | $ | 13,019 |  |  | $ | 11,158 |  |  | $ | 12,566 |
Impact of ASU 2016-13 adoption |  | — |  |  | — |  |  | 10,457 |  |  | — |
Provision for credit losses on unfunded credit commitments | (b) | 111 |  |  | 405 |  |  | 7,468 |  |  | 858 |
Allowance for unfunded credit commitments, end of period |  | $ | 29,083 |  |  | $ | 13,424 |  |  | $ | 29,083 |  |  | $ | 13,424 |
Provision for credit losses | (a) + (b) | $ | 10,000 |  |  | $ | 38,284 |  |  | $ | 186,313 |  |  | $ | 80,108 |
Allowance for loan losses and recorded investments by portfolio segments 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 table is no longer presented 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 |
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 the accretable yield on PCI loans for the three and nine months ended September 30, 2019:
($ in thousands) |  |  |  | Three Months Ended September 30, 2019 |  | Nine Months Ended September 30, 2019 |  |
Accretable yield for PCI loans, beginning of period |  |  |  |  |  | $ | 64,053 |  |  | $ | 74,870 |  |  |
Accretion |  |  |  |  |  | (6,198) |  |  | (18,205) |  |  |
Changes in expected cash flows |  |  |  |  |  | (934) |  |  | 256 |  |  |
Accretable yield for PCI loans, end of period |  |  |  |  |  | $ | 56,921 |  |  | $ | 56,921 |  |  |
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 the lower of cost or fair value during the three and nine months ended September 30, 2020 and 2019:
($ in thousands) |  | Three Months Ended September 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) |  | $ | 89,394 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 89,394 |
Sales (2)(3)(4) |  | $ | 92,237 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 31,847 |  |  |  |  |  |  | $ | 124,084 |
Purchases |  | $ | — |  |  | $ | — |  |  | $ | 838 |  |  | $ | — |  |  | $ | 17,294 |  |  |  |  |  |  | $ | 18,132 |
($ in thousands) |  | Three Months Ended September 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) |  | $ | 34,071 |  |  | $ | 14,969 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 49,040 |
Sales (2)(3)(4) |  | $ | 37,986 |  |  | $ | 14,969 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,708 |  |  |  |  |  |  | $ | 55,663 |
Purchases (5) |  | $ | 38,047 |  |  | $ | — |  |  | $ | 1,350 |  |  | $ | — |  |  | $ | 29,568 |  |  |  |  |  |  | $ | 68,965 |
($ in thousands) |  | Nine Months Ended September 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) |  | $ | 246,052 |  |  | $ | 7,250 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 253,302 |
Sales (2)(3)(4) |  | $ | 248,895 |  |  | $ | 7,250 |  |  | $ | — |  |  | $ | — |  |  | $ | 50,197 |  |  |  |  |  |  | $ | 306,342 |
Purchases (5) |  | $ | 143,086 |  |  | $ | — |  |  | $ | 2,358 |  |  | $ | — |  |  | $ | 18,378 |  |  |  |  |  |  | $ | 163,822 |
($ in thousands) |  | Nine Months Ended September 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) |  | $ | 189,237 |  |  | $ | 31,624 |  |  | $ | — |  |  | $ | 1,573 |  |  | $ | — |  |  |  |  |  |  | $ | 222,434 |
Sales (2)(3)(4) |  | $ | 189,663 |  |  | $ | 31,624 |  |  | $ | — |  |  | $ | 1,573 |  |  | $ | 6,322 |  |  |  |  |  |  | $ | 229,182 |
Purchases (5) |  | $ | 304,341 |  |  | $ | — |  |  | $ | 7,302 |  |  | $ | — |  |  | $ | 83,607 |  |  |  |  |  |  | $ | 395,250 |
(1)The Company recorded write-downs of $2.8 million to the allowance for loan losses related to loans transferred from held-for-investment to held-for-sale for each of the three and nine months ended September 30, 2020, and $36 thousand and $426 thousand for the same periods in 2019, respectively. (2)Includes originated loans sold of $112.3 million and $294.6 million for the three and nine months ended September 30, 2020, respectively, and $47.8 million and $180.0 million for the same periods in 2019, respectively. Originated loans sold consist primarily of C&I and single-family residential loans during the three and nine months ended September 30, 2020. In comparison, originated loans sold consist primarily of C&I loans for the same periods in 2019. (3)Includes purchased loans of $11.8 million sold in the secondary market for each of the three and nine months ended September 30, 2020, and $7.9 million and $49.2 million for the same periods in 2019, respectively. (4)Net gains on sales of loans were $361 thousand and $1.4 million for the three and nine months ended September 30, 2020, respectively, and $2.0 million and $3.0 million for the same periods in 2019, respectively. (5)C&I loan purchases comprised primarily of syndicated C&I term loans.

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