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Loans Receivable and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2023
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 outstanding as of March 31, 2023 and December 31, 2022:
($ in thousands)March 31, 2023December 31, 2022
Commercial:
C&I$15,641,840 $15,711,095 
CRE:
CRE14,019,136 13,857,870 
Multifamily residential4,682,280 4,573,068 
Construction and land731,394 638,420 
Total CRE19,432,810 19,069,358 
Total commercial35,074,650 34,780,453 
Consumer:
Residential mortgage:
Single-family residential11,786,998 11,223,027 
HELOCs1,988,881 2,122,655 
Total residential mortgage13,775,879 13,345,682 
Other consumer67,519 76,295 
Total consumer13,843,398 13,421,977 
Total loans held-for-investment (1)
$48,918,048 $48,202,430 
Allowance for loan losses(619,893)(595,645)
Loans held-for-investment, net (1)
$48,298,155 $47,606,785 
(1)Includes $(75.4) million and $(70.4) million of net deferred loan fees and net unamortized premiums as of March 31, 2023 and December 31, 2022, respectively.
Schedule Of Loans Held-For-Investment By Loan Portfolio Segments, Internal Risk Ratings, Gross Write-Offs And Vintage Year
The following tables summarize the Company’s loans held-for-investment and current-period gross write-offs by loan portfolio segments, internal risk ratings and vintage year as of the periods presented. The vintage year is the year of loan origination, renewal or major modification. Revolving loans that are converted to term loans presented in the tables below are excluded from term loans by vintage year columns.
March 31, 2023
Term Loans by Origination Year
($ in thousands)20232022202120202019PriorRevolving Loans
Revolving Loans Converted to Term Loans (1)
Total
Commercial:
C&I:
Pass$674,825 $2,578,285 $1,783,684 $521,410 $333,681 $253,687 $9,060,947 $20,446 $15,226,965 
Criticized (accrual)2 76,947 90,595 30,558 33,825 9,511 129,690 — 371,128 
Criticized (nonaccrual)300 18,197 1,773 10,335 — 13,142 — — 43,747 
Total C&I675,127 2,673,429 1,876,052 562,303 367,506 276,340 9,190,637 20,446 15,641,840 
YTD gross write-offs (3)
185 68 72 — — 1,553 — — 1,878 
CRE:
Pass468,751 4,143,097 2,386,362 1,470,520 1,724,371 3,216,726 163,308 54,385 13,627,520 
Criticized (accrual)— — 53,948 155,649 55,225 106,071 1,455 — 372,348 
Criticized (nonaccrual)— 171 18,692 — — 405 — — 19,268 
Subtotal CRE468,751 4,143,268 2,459,002 1,626,169 1,779,596 3,323,202 164,763 54,385 14,019,136 
YTD gross write-offs— — — — — 6 — — 6 
Multifamily residential:
Pass159,286 1,498,094 882,113 633,118 515,423 951,669 9,253 1,301 4,650,257 
Criticized (accrual)— — — — 704 31,160 — — 31,864 
Criticized (nonaccrual)— — — — — 159 — — 159 
Subtotal multifamily residential159,286 1,498,094 882,113 633,118 516,127 982,988 9,253 1,301 4,682,280 
Construction and land:
Pass47,883 329,458 268,980 34,007 1,245 3,011 12,087 — 696,671 
Criticized (accrual)— 13,151 — — — 21,572 — — 34,723 
Criticized (nonaccrual)— — — — — — — — — 
Subtotal construction and land47,883 342,609 268,980 34,007 1,245 24,583 12,087 — 731,394 
Total CRE675,920 5,983,971 3,610,095 2,293,294 2,296,968 4,330,773 186,103 55,686 19,432,810 
YTD gross write-offs
— — — — — 6 — — 6 
Total commercial$1,351,047 $8,657,400 $5,486,147 $2,855,597 $2,664,474 $4,607,113 $9,376,740 $76,132 $35,074,650 
YTD total commercial gross write-offs (3)
$185 $68 $72 $— $— $1,559 $— $— $1,884 
March 31, 2023
Term Loans by Origination Year
($ in thousands)20232022202120202019PriorRevolving Loans
Revolving Loans Converted to Term Loans (1)
Total
Consumer:
Residential mortgage:
Single-family residential:
Pass (2)
$789,902 $3,504,956 $2,414,724 $1,728,663 $1,075,516 $2,246,626 $— $— $11,760,387 
Criticized (accrual)— — 629 733 2,436 3,100 — — 6,898 
Criticized (nonaccrual) (2)
— 142 676 1,006 3,240 14,649 — — 19,713 
Subtotal single-family residential mortgage789,902 3,505,098 2,416,029 1,730,402 1,081,192 2,264,375 — — 11,786,998 
HELOCs:
Pass— 1,683 1,183 4,240 2,351 10,592 1,835,459 119,520 1,975,028 
Criticized (accrual)— — 223 655 — 2,905 488 537 4,808 
Criticized (nonaccrual)— — 6 183 69 4,965 191 3,631 9,045 
Subtotal HELOCs— 1,683 1,412 5,078 2,420 18,462 1,836,138 123,688 1,988,881 
Total residential mortgage789,902 3,506,781 2,417,441 1,735,480 1,083,612 2,282,837 1,836,138 123,688 13,775,879 
Other consumer:
Pass889 16,824 137 5,356 — 7,229 36,715 — 67,150 
Criticized (accrual)3 — — — — — — — 3 
Criticized (nonaccrual)— — — — — — 366 — 366 
Total other consumer892 16,824 137 5,356 — 7,229 37,081 — 67,519 
YTD gross write-offs— — — — — — 40 — 40 
Total consumer$790,794 $3,523,605 $2,417,578 $1,740,836 $1,083,612 $2,290,066 $1,873,219 $123,688 $13,843,398 
YTD total consumer gross write-offs (3)
$— $— $— $— $— $— $40 $— $40 
Total loans held-for-investment:
Pass$2,141,536 $12,072,397 $7,737,183 $4,397,314 $3,652,587 $6,689,540 $11,117,769 $195,652 $48,003,978 
Criticized (accrual)5 90,098 145,395 187,595 92,190 174,319 131,633 537 821,772 
Criticized (nonaccrual)300 18,510 21,147 11,524 3,309 33,320 557 3,631 92,298 
Total$2,141,841 $12,181,005 $7,903,725 $4,596,433 $3,748,086 $6,897,179 $11,249,959 $199,820 $48,918,048 
YTD total loans held-for-investment gross write-offs (3)
$185 $68 $72 $— $— $1,559 $40 $— $1,924 
December 31, 2022
Term Loans by Origination Year
($ in thousands)20222021202020192018PriorRevolving Loans
Revolving Loans Converted to Term Loans (1)
Total
Commercial:
C&I:
Pass$2,831,834 $2,053,215 $623,026 $392,013 $143,970 $97,605 $9,177,401 $20,548 $15,339,612 
Criticized (accrual)72,210 34,296 48,761 34,221 20,646 12,933 97,988 — 321,055 
Criticized (nonaccrual)18,722 4,797 10,733 243 5,618 10,315 — — 50,428 
Total C&I2,922,766 2,092,308 682,520 426,477 170,234 120,853 9,275,389 20,548 15,711,095 
CRE:
Pass4,178,780 2,404,634 1,505,150 1,771,679 1,471,710 1,909,925 165,653 22,009 13,429,540 
Criticized (accrual)3,518 60,573 159,424 40,095 91,132 32,173 1,455 16,716 405,086 
Criticized (nonaccrual)— 19,044 — — — 4,200 — — 23,244 
Subtotal CRE4,182,298 2,484,251 1,664,574 1,811,774 1,562,842 1,946,298 167,108 38,725 13,857,870 
Multifamily residential:
Pass1,500,289 892,598 641,677 519,614 350,044 625,293 11,325 — 4,540,840 
Criticized (accrual)— — — 707 4,276 27,076 — — 32,059 
Criticized (nonaccrual)— — — — — 169 — — 169 
Subtotal multifamily residential1,500,289 892,598 641,677 520,321 354,320 652,538 11,325 — 4,573,068 
Construction and land:
Pass288,394 276,839 31,804 3,104 2,805 231 9,073 — 612,250 
Criticized (accrual)4,504 — — — 21,666 — — — 26,170 
Criticized (nonaccrual)— — — — — — — — — 
Subtotal construction and land292,898 276,839 31,804 3,104 24,471 231 9,073 — 638,420 
Total CRE5,975,485 3,653,688 2,338,055 2,335,199 1,941,633 2,599,067 187,506 38,725 19,069,358 
Total commercial
$8,898,251 $5,745,996 $3,020,575 $2,761,676 $2,111,867 $2,719,920 $9,462,895 $59,273 $34,780,453 
Consumer:
Residential mortgage:
Single-family residential:
Pass (2)
$3,548,894 $2,453,717 $1,775,696 $1,101,965 $817,164 $1,500,359 $— $— $11,197,795 
Criticized (accrual)— 1,275 785 1,463 4,352 3,935 — — 11,810 
Criticized (nonaccrual) (2)
141 — 204 3,202 1,721 8,154 — — 13,422 
Subtotal single-family residential mortgage3,549,035 2,454,992 1,776,685 1,106,630 823,237 1,512,448 — — 11,223,027 
HELOCs:
Pass520 3,583 7,336 3,203 525 8,960 1,958,692 127,401 2,110,220 
Criticized (accrual)— 6 — — — — 4 1,079 1,089 
Criticized (nonaccrual)— — 483 231 1,017 4,844 1,001 3,770 11,346 
Subtotal HELOCs520 3,589 7,819 3,434 1,542 13,804 1,959,697 132,250 2,122,655 
Subtotal residential mortgage3,549,555 2,458,581 1,784,504 1,110,064 824,779 1,526,252 1,959,697 132,250 13,345,682 
Other consumer:
Pass17,088 137 5,356 — — 15,808 37,804 — 76,193 
Criticized (accrual)3 — — — — — — — 3 
Criticized (nonaccrual)— — — — — — 99 — 99 
Total other consumer
17,091 137 5,356 — — 15,808 37,903 — 76,295 
Total consumer$3,566,646 $2,458,718 $1,789,860 $1,110,064 $824,779 $1,542,060 $1,997,600 $132,250 $13,421,977 
Total by Risk Rating:
Pass$12,365,799 $8,084,723 $4,590,045 $3,791,578 $2,786,218 $4,158,181 $11,359,948 $169,958 $47,306,450 
Criticized (accrual)80,235 96,150 208,970 76,486 142,072 76,117 99,447 17,795 797,272 
Criticized (nonaccrual)18,863 23,841 11,420 3,676 8,356 27,682 1,100 3,770 98,708 
Total
$12,464,897 $8,204,714 $4,810,435 $3,871,740 $2,936,646 $4,261,980 $11,460,495 $191,523 $48,202,430 
(1)$12.2 million of total commercial loans, primarily comprised of CRE revolving loans and $5.1 million of total consumer loans, comprised of HELOC revolving loans converted to term loans during the three months ended March 31, 2023. In comparison, no commercial or consumer loans were converted to term loans during the three months ended March 31, 2022.
(2)As of March 31, 2023 and December 31, 2022, $827 thousand and $818 thousand, respectively, of nonaccrual loans whose payments are guaranteed by the Federal Housing Administration were classified with a “Pass” rating.
(3)Excludes current-period gross write-offs associated with loans the Company sold or settled.
Schedule Of Aging Analysis Of Loans The following tables present the aging analysis of loans held-for-investment as of March 31, 2023 and December 31, 2022:
March 31, 2023
($ in thousands)Current
Accruing
Loans		Accruing
Loans
30-59 Days
Past Due		Accruing
Loans
60-89 Days
Past Due		Total
Accruing
Past Due
Loans		Total
Nonaccrual
Loans		Total
Loans
Commercial:
C&I$15,589,505 $4,758 $3,830 $8,588 $43,747 $15,641,840 
CRE:
CRE13,998,080 1,304 484 1,788 19,268 14,019,136 
Multifamily residential4,681,411 391 319 710 159 4,682,280 
Construction and land723,240 — 8,154 8,154 — 731,394 
Total CRE19,402,731 1,695 8,957 10,652 19,427 19,432,810 
Total commercial34,992,236 6,453 12,787 19,240 63,174 35,074,650 
Consumer:
Residential mortgage:
Single-family residential11,740,953 17,964 7,541 25,505 20,540 11,786,998 
HELOCs1,969,546 5,485 4,805 10,290 9,045 1,988,881 
Total residential mortgage13,710,499 23,449 12,346 35,795 29,585 13,775,879 
Other consumer67,008 89 56 145 366 67,519 
Total consumer13,777,507 23,538 12,402 35,940 29,951 13,843,398 
Total$48,769,743 $29,991 $25,189 $55,180 $93,125 $48,918,048 
December 31, 2022
($ in thousands)Current
Accruing
Loans		Accruing
Loans
30-59 Days
Past Due		Accruing
Loans
60-89 Days
Past Due		Total
Accruing
Past Due
Loans		Total
Nonaccrual
Loans		Total
Loans
Commercial:
C&I$15,651,312 $6,482 $2,873 $9,355 $50,428 $15,711,095 
CRE:
CRE13,820,441 14,185 — 14,185 23,244 13,857,870 
Multifamily residential4,571,899 678 322 1,000 169 4,573,068 
Construction and land638,420 — — — — 638,420 
Total CRE19,030,760 14,863 322 15,185 23,413 19,069,358 
Total commercial34,682,072 21,345 3,195 24,540 73,841 34,780,453 
Consumer:
Residential mortgage:
Single-family residential11,183,134 13,523 12,130 25,653 14,240 11,223,027 
HELOCs2,102,523 7,700 1,086 8,786 11,346 2,122,655 
Total residential mortgage
13,285,657 21,223 13,216 34,439 25,586 13,345,682 
Other consumer73,004 109 3,083 3,192 99 76,295 
Total consumer13,358,661 21,332 16,299 37,631 25,685 13,421,977 
Total$48,040,733 $42,677 $19,494 $62,171 $99,526 $48,202,430 
Schedule Of Amortized Cost Of Loans On Nonaccrual Status With No Related Allowance For Loan Losses
The following table presents the amortized cost of loans on nonaccrual status for which there was no related allowance for loan losses as of both March 31, 2023 and December 31, 2022. Nonaccrual loans may not have an allowance for credit losses if the loan balances are well-secured by the collateral value and there is no loss expectation.
($ in thousands)March 31, 2023December 31, 2022
Commercial:
C&I$16,227 $11,398 
CRE18,693 22,944 
Total commercial34,920 34,342 
Consumer:
Single-family residential7,206 2,998 
HELOCs5,050 7,245 
Total consumer12,256 10,243 
Total nonaccrual loans with no related allowance for loan losses$47,176 $44,585 
Summary Of Modified Loans/TDRs
The following table presents the amortized cost of modified loans and the financial effects of the modifications for the three months ended March 31, 2023 by loan class and modification type:
For the Three Months Ended March 31, 2023
Modification TypeFinancial Effects of
Loan Modifications
($ in thousands)Term ExtensionPayment DelayTotalModification as a % of Loan ClassWeighted-Average Term Extension
(in years)		Weighted-Average Payment Delay
(in years)
Commercial:
C&I$19,974 $14,364 $34,338 0.22 %0.9 years1.0 year
CRE:
CRE543 — 543 0.00 %2.0 years
Total commercial20,517 14,364 34,881 
Consumer:
Residential mortgage:
HELOCs738 — 738 0.04 %14.8 years
Total consumer738 — 738 
Total$21,255 $14,364 $35,619 
The following table presents the additions to TDRs for the three months ended March 31, 2022:
Loans Modified as TDRs During the three months ended March 31, 2022
($ in thousands)Number of LoansPre-Modification Outstanding Recorded Investment
Post-Modification Outstanding Recorded Investment (1)
Financial Impact (2)
Commercial:
C&I1 $17,179 $9,224 $7,545 
Total1 $17,179 $9,224 $7,545 
(1)Includes subsequent payments after modification and reflects the balance as of March 31, 2022.
(2)Includes charge-offs since the modification date.

The following table presents the TDR post-modification outstanding balances by the primary modification type for the three months ended March 31, 2022:
Modification Type
During the Three Months Ended March 31, 2022
($ in thousands)
Principal (1)
Total
Commercial:
C&I$9,224 $9,224 
Total$9,224 $9,224 
(1)Includes principal deferments that modify the terms of the loan from principal and interest payments to interest payments only.
Financing Receivable, Modified, Subsequent Default The following table presents information on loans that entered into default during the three months ended March 31, 2022 that were modified as TDRs during the 12 months preceding payment default:
Loans Modified as TDRs that Subsequently Defaulted During the Three Months Ended March 31, 2022
($ in thousands)Number of LoansRecorded Investment
Commercial:
C&I1 $3,250 
Total1 $3,250 
Financing Receivable Credit Quality Indicators, Key Credit Risk Characteristics and Macroeconomic Variables
The following table provides key credit risk characteristics and macroeconomic variables that the Company uses to estimate the expected credit losses by portfolio segment:
Portfolio SegmentRisk CharacteristicsMacroeconomic Variables
C&IAge, size and spread at origination, and risk rating
Volatility Index and BBB yield to 10-year U.S. Treasury spread
CRE, Multifamily residential, and Construction and landDelinquency status, maturity date, collateral value, property type, and geographic locationUnemployment rate, Gross Domestic Product (“GDP”), and U.S. Treasury rates
Single-family residential and HELOCsFICO score, delinquency status, maturity date, collateral value, and geographic locationUnemployment rate, GDP, and home price index
Other consumerLoss rate approach
Immaterial (1)
(1)Macroeconomic variables are included in the qualitative estimate.
Summary Of Activity In The Allowance For Credit Losses
The following tables summarize the activity in the allowance for loan losses by portfolio segments for the three months ended March 31, 2023 and 2022:
Three Months Ended March 31, 2023
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREMultifamily ResidentialConstruction and LandSingle-Family ResidentialHELOCsOther ConsumerTotal
Allowance for loan losses, December 31, 2022$371,700 $149,864 $23,373 $9,109 $35,564 $4,475 $1,560 $595,645 
Impact of ASU 2022-02 adoption5,683 337 6 — 1 1 — 6,028 
Allowance for loan losses, January 1, 2023377,383 150,201 23,379 9,109 35,565 4,476 1,560 601,673 
(Reversal of) provision for credit losses on loans(a)(678)4,676 1,135 210 12,442 580 155 18,520 
Gross charge-offs(1,900)(6)— — — (91)(40)(2,037)
Gross recoveries1,211 196 12 3 — 6 — 1,428 
Total net (charge-offs) recoveries(689)190 12 3 — (85)(40)(609)
Foreign currency translation adjustment309 — — — — — — 309 
Allowance for loan losses, end of period$376,325 $155,067 $24,526 $9,322 $48,007 $4,971 $1,675 $619,893 
Three Months Ended March 31, 2022
CommercialConsumer
CREResidential Mortgage
($ in thousands)C&ICREMultifamily ResidentialConstruction and LandSingle-Family ResidentialHELOCsOther ConsumerTotal
Allowance for loan losses, beginning of period
$338,252 $150,940 $14,400 $15,468 $17,160 $3,435 $1,924 $541,579 
Provision for (reversal of) credit losses on loans(a)9,262 (3,493)9,657 (4,506)926 299 107 12,252 
Gross charge-offs(11,188)(398)(1)— — — (46)(11,633)
Gross recoveries3,002 55 120 54 124 14 — 3,369 
Total net (charge-offs) recoveries(8,186)(343)119 54 124 14 (46)(8,264)
Foreign currency translation adjustment118 — — — — — — 118 
Allowance for loan losses, end of period$339,446 $147,104 $24,176 $11,016 $18,210 $3,748 $1,985 $545,685 
The following table summarizes the activities in the allowance for unfunded credit commitments for the three months ended March 31, 2023 and 2022:
Three Months Ended March 31,
($ in thousands)20232022
Unfunded credit facilities
Allowance for unfunded credit commitments, beginning of period$26,264 $27,514 
Provision for (reversal of) credit losses on unfunded credit commitments(b)1,480 (4,252)
Foreign currency translation adjustment(3)— 
Allowance for unfunded credit commitments, end of period$27,741 $23,262 
Provision for credit losses(a) + (b)$20,000 $8,000 
Schedule Of Carrying Value Of Loans Transferred, Loans Sold and Purchased For the Held-For-Investment Portfolio The following tables provide information on the carrying value of loans transferred, sold and purchased for the held-for-investment portfolio, during the three months ended March 31, 2023 and 2022:
Three Months Ended March 31, 2023
CommercialConsumer
Residential Mortgage
($ in thousands)C&ICRESingle-Family ResidentialTotal
Loans transferred from held-for-investment to held-for-sale (1)
$156,876 $3,600 $— $160,476 
Sales (2)(3)(4)
$175,932 $3,600 $— $179,532 
Purchases (5)
$22,683 $— $131,999 $154,682 
Three Months Ended March 31, 2022
CommercialConsumer
Residential Mortgage
($ in thousands)C&ICRESingle-Family ResidentialTotal
Loans transferred from held-for-investment to held-for-sale (1)
$111,437 $21,780 $— $133,217 
Sales (2)(3)(4)
$107,474 $21,780 $451 $129,705 
Purchases (5)
$110,596 $— $114,375 $224,971 
(1)Includes write-downs of $273 thousand and $59 thousand to the allowance for loan losses related to loans transferred from held-for-investment to held-for-sale for the three months ended March 31, 2023 and 2022, respectively.
(2)Includes originated loans sold of $111.0 million and $112.3 million for the three months ended March 31, 2023 and 2022, respectively. Originated loans sold consisted primarily of C&I loans for both periods.
(3)Includes $68.5 million and $17.4 million of purchased loans sold in the secondary market for the three months ended March 31, 2023 and 2022, respectively.
(4)Net (losses) gains on sales of loans were $(22) thousand and $2.9 million for the three months ended March 31, 2023 and 2022, respectively.
(5)C&I loan purchases were comprised primarily of syndicated C&I term loans.
Financing Receivable, Modified, Payment Performance
The following table presents the performance of loans that were modified during the three months ended March 31, 2023.
Payment Performance as of March 31, 2023
($ in thousands)Current30 - 89 Days
Past Due		90+ Days
Past Due		Total
Commercial:
C&I$27,393 $6,945 $— $34,338 
CRE:
CRE543 — — 543 
Total commercial27,936 6,945 — 34,881 
Consumer:
Residential mortgage:
HELOCs738 — — 738 
Total consumer738 — — 738 
Total$28,674 $6,945 $— $35,619