XML 48 R32.htm IDEA: XBRL DOCUMENT
v3.23.3

Loans Receivable and Allowance for Credit Losses (Tables) | 9 Months Ended
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Sep. 30, 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 September 30, 2023 and December 31, 2022:
($ in thousands) |  | September 30, 2023 |  | December 31, 2022
Commercial: |  |  |  |
C&I |  | $ | 15,864,042 |  |  | $ | 15,711,095 |
CRE: |  |  |  |
CRE |  | 14,667,378 |  |  | 13,857,870 |
Multifamily residential |  | 4,900,097 |  |  | 4,573,068 |
Construction and land |  | 798,190 |  |  | 638,420 |
Total CRE |  | 20,365,665 |  |  | 19,069,358 |
Total commercial |  | 36,229,707 |  |  | 34,780,453 |
Consumer: |  |  |  |
Residential mortgage: |  |  |  |
Single-family residential |  | 12,836,558 |  |  | 11,223,027 |
HELOCs |  | 1,776,665 |  |  | 2,122,655 |
Total residential mortgage |  | 14,613,223 |  |  | 13,345,682 |
Other consumer |  | 64,254 |  |  | 76,295 |
Total consumer |  | 14,677,477 |  |  | 13,421,977 |
Total loans held-for-investment (1) |  | $ | 50,907,184 |  |  | $ | 48,202,430 |
Allowance for loan losses |  | (655,523) |  |  | (595,645) |
Loans held-for-investment, net (1) |  | $ | 50,251,661 |  |  | $ | 47,606,785 |
(1)Includes $72.0 million and $70.4 million comprising unamortized deferred and unearned fees, net of premiums as of September 30, 2023 and December 31, 2022, respectively.
Schedule Of Loans Held-For-Investment By Loan Portfolio Segments, Internal Risk Ratings, Gross Write-Offs And Vintage Year | The following tables summarize the Company’s loans held-for-investment and current year-to-date gross write-offs by loan portfolio segments, internal risk ratings and vintage year as of the periods presented. The vintage year is the year of loan origination, renewal or major modification. Revolving loans that are converted to term loans presented in the tables below are excluded from term loans by vintage year columns.
|  | September 30, 2023 |  |
|  | Term Loans by Origination Year |  |  |  |  |  |  |  |
($ in thousands) |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Revolving Loans |  | Revolving Loans Converted to Term Loans (1) |  | Total |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,858,749 |  |  | $ | 1,942,241 |  |  | $ | 1,470,818 |  |  | $ | 354,650 |  |  | $ | 259,342 |  |  | $ | 164,149 |  |  | $ | 9,254,852 |  |  | $ | 20,248 |  |  | $ | 15,325,049 |  |  |
Criticized (accrual) |  | 88,542 |  |  | 110,918 |  |  | 91,272 |  |  | 45,069 |  |  | 25,603 |  |  | 23,640 |  |  | 104,802 |  |  | — |  |  | 489,846 |  |  |
Criticized (nonaccrual) |  | 2,084 |  |  | 10,480 |  |  | 13 |  |  | 8,694 |  |  | 6,134 |  |  | 21,709 |  |  | 33 |  |  | — |  |  | 49,147 |  |  |
Total C&I |  | 1,949,375 |  |  | 2,063,639 |  |  | 1,562,103 |  |  | 408,413 |  |  | 291,079 |  |  | 209,498 |  |  | 9,359,687 |  |  | 20,248 |  |  | 15,864,042 |  |  |
YTD gross write-offs (2) |  | 350 |  |  | 28 |  |  | 161 |  |  | 15 |  |  | 6,606 |  |  | 1,684 |  |  | — |  |  | — |  |  | 8,844 |  |  |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 2,066,361 |  |  | 4,080,810 |  |  | 2,259,761 |  |  | 1,396,114 |  |  | 1,649,168 |  |  | 2,722,697 |  |  | 101,811 |  |  | 63,050 |  |  | 14,339,772 |  |  |
Criticized (accrual) |  | 36,899 |  |  | 14,717 |  |  | 20,307 |  |  | 100,871 |  |  | 24,544 |  |  | 129,658 |  |  | — |  |  | — |  |  | 326,996 |  |  |
Criticized (nonaccrual) |  | — |  |  | — |  |  | — |  |  | — |  |  | 451 |  |  | 159 |  |  | — |  |  | — |  |  | 610 |  |  |
Subtotal CRE |  | 2,103,260 |  |  | 4,095,527 |  |  | 2,280,068 |  |  | 1,496,985 |  |  | 1,674,163 |  |  | 2,852,514 |  |  | 101,811 |  |  | 63,050 |  |  | 14,667,378 |  |  |
YTD gross write-offs (2) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 119 |  |  | — |  |  | — |  |  | 119 |  |  |
Multifamily residential: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 478,895 |  |  | 1,495,620 |  |  | 814,391 |  |  | 620,117 |  |  | 503,791 |  |  | 893,282 |  |  | 7,658 |  |  | 1,288 |  |  | 4,815,042 |  |  |
Criticized (accrual) |  | — |  |  | — |  |  | 53,555 |  |  | — |  |  | 696 |  |  | 26,124 |  |  | — |  |  | — |  |  | 80,375 |  |  |
Criticized (nonaccrual) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,680 |  |  | — |  |  | — |  |  | 4,680 |  |  |
Subtotal multifamily residential |  | 478,895 |  |  | 1,495,620 |  |  | 867,946 |  |  | 620,117 |  |  | 504,487 |  |  | 924,086 |  |  | 7,658 |  |  | 1,288 |  |  | 4,900,097 |  |  |
Construction and land: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 151,175 |  |  | 354,415 |  |  | 222,474 |  |  | 37,732 |  |  | 812 |  |  | 5,475 |  |  | 14,966 |  |  | — |  |  | 787,049 |  |  |
Criticized (nonaccrual) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11,141 |  |  | — |  |  | — |  |  | 11,141 |  |  |
Subtotal construction and land |  | 151,175 |  |  | 354,415 |  |  | 222,474 |  |  | 37,732 |  |  | 812 |  |  | 16,616 |  |  | 14,966 |  |  | — |  |  | 798,190 |  |  |
YTD gross write-offs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10,413 |  |  | — |  |  | — |  |  | 10,413 |  |  |
Total CRE |  | 2,733,330 |  |  | 5,945,562 |  |  | 3,370,488 |  |  | 2,154,834 |  |  | 2,179,462 |  |  | 3,793,216 |  |  | 124,435 |  |  | 64,338 |  |  | 20,365,665 |  |  |
YTD gross write-offs (2) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10,532 |  |  | — |  |  | — |  |  | 10,532 |  |  |
Total commercial |  | $ | 4,682,705 |  |  | $ | 8,009,201 |  |  | $ | 4,932,591 |  |  | $ | 2,563,247 |  |  | $ | 2,470,541 |  |  | $ | 4,002,714 |  |  | $ | 9,484,122 |  |  | $ | 84,586 |  |  | $ | 36,229,707 |  |  |
YTD total commercial gross write-offs (2) |  | $ | 350 |  |  | $ | 28 |  |  | $ | 161 |  |  | $ | 15 |  |  | $ | 6,606 |  |  | $ | 12,216 |  |  | $ | — |  |  | $ | — |  |  | $ | 19,376 |  |  |
|  | September 30, 2023 |  |
|  | Term Loans by Origination Year |  |  |  |  |  |  |  |
($ in thousands) |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Revolving Loans |  | Revolving Loans Converted to Term Loans (1) |  | Total |  |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (3) |  | $ | 2,400,448 |  |  | $ | 3,390,708 |  |  | $ | 2,321,209 |  |  | $ | 1,633,316 |  |  | $ | 1,010,859 |  |  | $ | 2,040,678 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,797,218 |  |  |
Criticized (accrual) |  | 844 |  |  | 1,983 |  |  | 844 |  |  | 1,499 |  |  | 964 |  |  | 9,060 |  |  | — |  |  | — |  |  | 15,194 |  |  |
Criticized (nonaccrual) (3) |  | 1,916 |  |  | 2,866 |  |  | 4,702 |  |  | 2,696 |  |  | 2,868 |  |  | 9,098 |  |  | — |  |  | — |  |  | 24,146 |  |  |
Subtotal single-family residential mortgage |  | 2,403,208 |  |  | 3,395,557 |  |  | 2,326,755 |  |  | 1,637,511 |  |  | 1,014,691 |  |  | 2,058,836 |  |  | — |  |  | — |  |  | 12,836,558 |  |  |
HELOCs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 182 |  |  | 1,828 |  |  | 5,736 |  |  | 4,318 |  |  | 1,963 |  |  | 13,821 |  |  | 1,611,319 |  |  | 118,088 |  |  | 1,757,255 |  |  |
Criticized (accrual) |  | 741 |  |  | 401 |  |  | 62 |  |  | — |  |  | 353 |  |  | 1,649 |  |  | 2,039 |  |  | 963 |  |  | 6,208 |  |  |
Criticized (nonaccrual) |  | — |  |  | 517 |  |  | — |  |  | 1,359 |  |  | 68 |  |  | 5,396 |  |  | 1,751 |  |  | 4,111 |  |  | 13,202 |  |  |
Subtotal HELOCs |  | 923 |  |  | 2,746 |  |  | 5,798 |  |  | 5,677 |  |  | 2,384 |  |  | 20,866 |  |  | 1,615,109 |  |  | 123,162 |  |  | 1,776,665 |  |  |
YTD gross write-offs (2) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 41 |  |  | — |  |  | 6 |  |  | 47 |  |  |
Total residential mortgage |  | 2,404,131 |  |  | 3,398,303 |  |  | 2,332,553 |  |  | 1,643,188 |  |  | 1,017,075 |  |  | 2,079,702 |  |  | 1,615,109 |  |  | 123,162 |  |  | 14,613,223 |  |  |
YTD gross write-offs (2) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 41 |  |  | — |  |  | 6 |  |  | 47 |  |  |
Other consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 3,555 |  |  | 18,138 |  |  | 135 |  |  | — |  |  | — |  |  | 12,315 |  |  | 29,971 |  |  | — |  |  | 64,114 |  |  |
Criticized (accrual) |  | 4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  |
Criticized (nonaccrual) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 136 |  |  | — |  |  | 136 |  |  |
Total other consumer |  | 3,559 |  |  | 18,138 |  |  | 135 |  |  | — |  |  | — |  |  | 12,315 |  |  | 30,107 |  |  | — |  |  | 64,254 |  |  |
Total consumer |  | $ | 2,407,690 |  |  | $ | 3,416,441 |  |  | $ | 2,332,688 |  |  | $ | 1,643,188 |  |  | $ | 1,017,075 |  |  | $ | 2,092,017 |  |  | $ | 1,645,216 |  |  | $ | 123,162 |  |  | $ | 14,677,477 |  |  |
YTD total consumer gross write-offs (2) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 41 |  |  | $ | — |  |  | $ | 6 |  |  | $ | 47 |  |  |
Total loans held-for-investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 6,959,365 |  |  | $ | 11,283,760 |  |  | $ | 7,094,524 |  |  | $ | 4,046,247 |  |  | $ | 3,425,935 |  |  | $ | 5,852,417 |  |  | $ | 11,020,577 |  |  | $ | 202,674 |  |  | $ | 49,885,499 |  |  |
Criticized (accrual) |  | 127,030 |  |  | 128,019 |  |  | 166,040 |  |  | 147,439 |  |  | 52,160 |  |  | 190,131 |  |  | 106,841 |  |  | 963 |  |  | 918,623 |  |  |
Criticized (nonaccrual) |  | 4,000 |  |  | 13,863 |  |  | 4,715 |  |  | 12,749 |  |  | 9,521 |  |  | 52,183 |  |  | 1,920 |  |  | 4,111 |  |  | 103,062 |  |  |
Total |  | $ | 7,090,395 |  |  | $ | 11,425,642 |  |  | $ | 7,265,279 |  |  | $ | 4,206,435 |  |  | $ | 3,487,616 |  |  | $ | 6,094,731 |  |  | $ | 11,129,338 |  |  | $ | 207,748 |  |  | $ | 50,907,184 |  |  |
YTD total loans held-for-investment gross write-offs (2) |  | $ | 350 |  |  | $ | 28 |  |  | $ | 161 |  |  | $ | 15 |  |  | $ | 6,606 |  |  | $ | 12,257 |  |  | $ | — |  |  | $ | 6 |  |  | $ | 19,423 |  |  |
|  | December 31, 2022
|  | Term Loans by Origination Year |  |  |  |  |  |
($ in thousands) |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  | Revolving 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&I |  | 2,922,766 |  |  | 2,092,308 |  |  | 682,520 |  |  | 426,477 |  |  | 170,234 |  |  | 120,853 |  |  | 9,275,389 |  |  | 20,548 |  |  | 15,711,095 |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 4,178,780 |  |  | 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 CRE |  | 4,182,298 |  |  | 2,484,251 |  |  | 1,664,574 |  |  | 1,811,774 |  |  | 1,562,842 |  |  | 1,946,298 |  |  | 167,108 |  |  | 38,725 |  |  | 13,857,870 |
Multifamily residential: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 1,500,289 |  |  | 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 residential |  | 1,500,289 |  |  | 892,598 |  |  | 641,677 |  |  | 520,321 |  |  | 354,320 |  |  | 652,538 |  |  | 11,325 |  |  | — |  |  | 4,573,068 |
Construction and land: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 288,394 |  |  | 276,839 |  |  | 31,804 |  |  | 3,104 |  |  | 2,805 |  |  | 231 |  |  | 9,073 |  |  | — |  |  | 612,250 |
Criticized (accrual) |  | 4,504 |  |  | — |  |  | — |  |  | — |  |  | 21,666 |  |  | — |  |  | — |  |  | — |  |  | 26,170 |
Subtotal construction and land |  | 292,898 |  |  | 276,839 |  |  | 31,804 |  |  | 3,104 |  |  | 24,471 |  |  | 231 |  |  | 9,073 |  |  | — |  |  | 638,420 |
Total CRE |  | 5,975,485 |  |  | 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 (3) |  | $ | 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) (3) |  | 141 |  |  | — |  |  | 204 |  |  | 3,202 |  |  | 1,721 |  |  | 8,154 |  |  | — |  |  | — |  |  | 13,422 |
Subtotal single-family residential mortgage |  | 3,549,035 |  |  | 2,454,992 |  |  | 1,776,685 |  |  | 1,106,630 |  |  | 823,237 |  |  | 1,512,448 |  |  | — |  |  | — |  |  | 11,223,027 |
HELOCs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 520 |  |  | 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 HELOCs |  | 520 |  |  | 3,589 |  |  | 7,819 |  |  | 3,434 |  |  | 1,542 |  |  | 13,804 |  |  | 1,959,697 |  |  | 132,250 |  |  | 2,122,655 |
Total residential mortgage |  | 3,549,555 |  |  | 2,458,581 |  |  | 1,784,504 |  |  | 1,110,064 |  |  | 824,779 |  |  | 1,526,252 |  |  | 1,959,697 |  |  | 132,250 |  |  | 13,345,682 |
Other consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 17,088 |  |  | 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)$11.2 million and $24.6 million of total commercial loans, primarily comprised of CRE revolving loans, converted to term loans during the three and nine months ended September 30, 2023, respectively. In comparison, $0 and $26.4 million of total commercial loans, primarily comprised of CRE revolving loans, converted to term loans during the three and nine months ended September 30, 2022. $20.6 million and $27.7 million of total consumer loans, comprised of HELOCs, were converted to term loans during three and nine months ended September 30, 2023, respectively. In comparison, $375 thousand of total consumer loans, comprised of HELOCs, converted to term loans during both the three and nine months ended September 30, 2022. (2)Excludes gross write-offs associated with loans the Company sold or settled. (3)As of September 30, 2023 and December 31, 2022, $638 thousand and $818 thousand, respectively, of nonaccrual loans whose payments were guaranteed by the Federal Housing Administration were classified with a “Pass” rating.
Schedule Of Aging Analysis Of Loans | The following tables present the aging analysis of loans held-for-investment as of September 30, 2023 and December 31, 2022:
|  | September 30, 2023
($ 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 |  | $ | 15,781,468 |  |  | $ | 33,195 |  |  | $ | 232 |  |  |  |  |  |  | $ | 33,427 |  |  |  |  |  |  | $ | 49,147 |  |  | $ | 15,864,042 |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  | 14,664,230 |  |  | 2,015 |  |  | 523 |  |  |  |  |  |  | 2,538 |  |  |  |  |  |  | 610 |  |  | 14,667,378 |
Multifamily residential |  | 4,894,334 |  |  | 1,083 |  |  | — |  |  |  |  |  |  | 1,083 |  |  |  |  |  |  | 4,680 |  |  | 4,900,097 |
Construction and land |  | 787,049 |  |  | — |  |  | — |  |  |  |  |  |  | — |  |  |  |  |  |  | 11,141 |  |  | 798,190 |
Total CRE |  | 20,345,613 |  |  | 3,098 |  |  | 523 |  |  |  |  |  |  | 3,621 |  |  |  |  |  |  | 16,431 |  |  | 20,365,665 |
Total commercial |  | 36,127,081 |  |  | 36,293 |  |  | 755 |  |  |  |  |  |  | 37,048 |  |  |  |  |  |  | 65,578 |  |  | 36,229,707 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | 12,771,661 |  |  | 24,141 |  |  | 15,972 |  |  |  |  |  |  | 40,113 |  |  |  |  |  |  | 24,784 |  |  | 12,836,558 |
HELOCs |  | 1,746,841 |  |  | 10,416 |  |  | 6,206 |  |  |  |  |  |  | 16,622 |  |  |  |  |  |  | 13,202 |  |  | 1,776,665 |
Total residential mortgage |  | 14,518,502 |  |  | 34,557 |  |  | 22,178 |  |  |  |  |  |  | 56,735 |  |  |  |  |  |  | 37,986 |  |  | 14,613,223 |
Other consumer |  | 63,992 |  |  | 109 |  |  | 17 |  |  |  |  |  |  | 126 |  |  |  |  |  |  | 136 |  |  | 64,254 |
Total consumer |  | 14,582,494 |  |  | 34,666 |  |  | 22,195 |  |  |  |  |  |  | 56,861 |  |  |  |  |  |  | 38,122 |  |  | 14,677,477 |
Total |  | $ | 50,709,575 |  |  | $ | 70,959 |  |  | $ | 22,950 |  |  |  |  |  |  | $ | 93,909 |  |  |  |  |  |  | $ | 103,700 |  |  | $ | 50,907,184 |
|  | 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  | 13,820,441 |  |  | 14,185 |  |  | — |  |  |  |  | 14,185 |  |  |  |  |  |  | 23,244 |  |  | 13,857,870 |
Multifamily residential |  | 4,571,899 |  |  | 678 |  |  | 322 |  |  |  |  | 1,000 |  |  |  |  |  |  | 169 |  |  | 4,573,068 |
Construction and land |  | 638,420 |  |  | — |  |  | — |  |  |  |  | — |  |  |  |  |  |  | — |  |  | 638,420 |
Total CRE |  | 19,030,760 |  |  | 14,863 |  |  | 322 |  |  |  |  | 15,185 |  |  |  |  |  |  | 23,413 |  |  | 19,069,358 |
Total commercial |  | 34,682,072 |  |  | 21,345 |  |  | 3,195 |  |  |  |  | 24,540 |  |  |  |  |  |  | 73,841 |  |  | 34,780,453 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  | 11,183,134 |  |  | 13,523 |  |  | 12,130 |  |  |  |  | 25,653 |  |  |  |  |  |  | 14,240 |  |  | 11,223,027 |
HELOCs |  | 2,102,523 |  |  | 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 consumer |  | 73,004 |  |  | 109 |  |  | 3,083 |  |  |  |  | 3,192 |  |  |  |  |  |  | 99 |  |  | 76,295 |
Total consumer |  | 13,358,661 |  |  | 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 September 30, 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) |  |  | September 30, 2023 |  |  | December 31, 2022
Commercial: |  |  |  |  |  |
C&I |  |  | $ | 29,336 |  |  |  | $ | 11,398 |
CRE |  |  | — |  |  |  | 22,944 |
Multifamily residential |  |  | 4,235 |  |  |  | — |
Construction and land |  |  | 11,141 |  |  |  | — |
Total commercial |  |  | 44,712 |  |  |  | 34,342 |
Consumer: |  |  |  |  |  |
Single-family residential |  |  | 6,681 |  |  |  | 2,998 |
HELOCs |  |  | 8,483 |  |  |  | 7,245 |
Total consumer |  |  | 15,164 |  |  |  | 10,243 |
Total nonaccrual loans with no related allowance for loan losses |  |  | $ | 59,876 |  |  |  | $ | 44,585 |
Summary Of Modified Loans/TDRs | The following tables present the amortized cost of loans that were modified during the three and nine months ended September 30, 2023 by loan class and modification type:
|  | Three Months Ended September 30, 2023
|  | Modification Type |  |  |  |  |  |
($ in thousands) |  | Term Extension |  | Payment Delay |  | Combination: Term Extension/ Payment Delay |  | Combination: Rate Reduction/ Term Extension |  |  |  | Combination: Rate Reduction/ Payment Delay |  | Total |  | Modification as a % of Loan Class |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  | $ | 1,682 |  |  | $ | 11,603 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | 13,285 |  |  | 0.08 | % |  |  |  |  |  |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  | 13,469 |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | 13,469 |  |  | 0.07 | % |  |  |  |  |  |
Total commercial |  | 15,151 |  |  | 11,603 |  |  | — |  |  | — |  |  |  |  | — |  |  | 26,754 |  |  |  |  |  |  |  |  |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential: |  | — |  |  | 2,944 |  |  | 1,260 |  |  | — |  |  |  |  | — |  |  | 4,204 |  |  | 0.03 | % |  |  |  |  |  |
HELOCs |  | — |  |  | — |  |  | 334 |  |  | — |  |  |  |  | 183 |  |  | 517 |  |  | 0.03 | % |  |  |  |  |  |
Total consumer |  | — |  |  | 2,944 |  |  | 1,594 |  |  | — |  |  |  |  | 183 |  |  | 4,721 |  |  |  |  |  |  |  |  |
Total |  | $ | 15,151 |  |  | $ | 14,547 |  |  | $ | 1,594 |  |  | $ | — |  |  |  |  | $ | 183 |  |  | $ | 31,475 |  |  |  |  |  |  |  |  |
|  | Nine Months Ended September 30, 2023
|  | Modification Type |  |  |  |
($ in thousands) |  | Term Extension |  | Payment Delay |  | Combination: Term Extension/ Payment Delay |  | Combination: Rate Reduction/ Term Extension |  |  |  | Combination: Rate Reduction/ Payment Delay |  | Total |  | Modification as a % of Loan Class |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  | $ | 44,120 |  |  | $ | 20,793 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | 64,913 |  |  | 0.41 | % |  |  |  |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  | 13,979 |  |  | — |  |  | — |  |  | 32,724 |  |  |  |  | — |  |  | 46,703 |  |  | 0.23 | % |  |  |  |
Total commercial |  | 58,099 |  |  | 20,793 |  |  | — |  |  | 32,724 |  |  |  |  | — |  |  | 111,616 |  |  |  |  |  |  |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential: |  | — |  |  | 7,276 |  |  | 1,809 |  |  | — |  |  |  |  | — |  |  | 9,085 |  |  | 0.07 | % |  |  |  |
HELOCs |  | — |  |  | 741 |  |  | 1,053 |  |  | — |  |  |  |  | 183 |  |  | 1,977 |  |  | 0.11 | % |  |  |  |
Total consumer |  | — |  |  | 8,017 |  |  | 2,862 |  |  | — |  |  |  |  | 183 |  |  | 11,062 |  |  |  |  |  |  |
Total |  | $ | 58,099 |  |  | $ | 28,810 |  |  | $ | 2,862 |  |  | $ | 32,724 |  |  |  |  | $ | 183 |  |  | $ | 122,678 |  |  |  |  |  |  |
The following tables present the financial effects of the loan modifications for the three and nine months ended September 30, 2023 by loan class and modification type:
|  | Financial Effects of Loan Modifications
|  | Three Months Ended September 30, 2023
($ in thousands) |  | Principal Forgiveness |  | Weighted-Average Interest Rate Reduction |  | Weighted-Average Term Extension (in years) |  | Weighted-Average Payment Delay (in years)
Commercial: |  |  |  |  |  |  |  |
C&I |  | $ | 26 |  |  | — | % |  | 3.00 |  | 1.54
CRE |  | — |  |  | — | % |  | 1.08 |  | — |
Consumer: |  |  |  |  |  |  |  |
Single-family residential |  | — |  |  | — | % |  | 10.00 |  | 0.96
HELOCs |  | — |  |  | 0.50 | % |  | 16.68 |  | 0.71
Total |  | $ | 26 |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  | Financial Effects of Loan Modifications |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Nine months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | ($ in thousands) |  | Principal Forgiveness |  | Weighted-Average Interest Rate Reduction |  | Weighted-Average Term Extension (in years) |  | Weighted-Average Payment Delay (in years) |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | C&I |  | $ | 371 |  | (1) | — | % | (1) | 1.41 |  | 1.15 |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | CRE |  | — |  |  | 3.00 | % |  | 2.09 |  | — |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Single-family residential |  | — |  |  | — | % |  | 9.91 |  | 0.95 |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | HELOCs |  | — |  |  | 0.50 | % |  | 15.36 |  | 0.52 |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Total |  | $ | 371 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1)Comprised of C&I loans modified during the nine months ended September 30, 2023 where the interest rate is waived in addition to principal forgiveness. No recorded investment was outstanding as of September 30, 2023. The following table presents the additions to TDRs for the three and nine months ended September 30, 2022:
|  | Loans Modified as TDRs
|  | Three Months Ended September 30, 2022 |  | Nine Months Ended September 30, 2022
($ in thousands) |  | 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 |  | 1 |  |  | $ | 499 |  |  | $ | 496 |  |  | $ | 98 |  |  | 4 |  |  | $ | 30,633 |  |  | $ | 17,802 |  |  | $ | 16,729 |
Total commercial |  | 1 |  |  | 499 |  |  | 496 |  |  | 98 |  |  | 4 |  |  | 30,633 |  |  | 17,802 |  |  | 16,729 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HELOCs |  | 1 |  |  | 62 |  |  | 69 |  |  | 2 |  |  | 1 |  |  | 62 |  |  | 69 |  |  | 2 |
Total residential mortgage |  | 1 |  |  | 62 |  |  | 69 |  |  | 2 |  |  | 1 |  |  | 62 |  |  | 69 |  |  | 2 |
Total consumer |  | 1 |  |  | 62 |  |  | 69 |  |  | 2 |  |  | 1 |  |  | 62 |  |  | 69 |  |  | 2 |
Total |  | 2 |  |  | $ | 561 |  |  | $ | 565 |  |  | $ | 100 |  |  | 5 |  |  | $ | 30,695 |  |  | $ | 17,871 |  |  | $ | 16,731 |
(1)Includes subsequent payments after modification and reflects the balance as of September 30, 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 and nine months ended September 30, 2022:
|  | Modification Type
|  | Three Months Ended September 30, 2022 |  | Nine Months Ended September 30, 2022
($ in thousands) |  | Principal |  |  |  |  |  |  |  |  |  | Other |  | Total |  | Principal (1) |  |  |  |  |  |  |  |  |  | Other (2) |  | Total
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  | $ | 496 |  |  |  |  |  |  |  |  |  |  | $ | — |  |  | $ | 496 |  |  | $ | 9,609 |  |  |  |  |  |  |  |  |  |  | $ | 8,193 |  |  | $ | 17,802 |
Total commercial |  | 496 |  |  |  |  |  |  |  |  |  |  | — |  |  | 496 |  |  | 9,609 |  |  |  |  |  |  |  |  |  |  | 8,193 |  |  | 17,802 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HELOCs |  | 69 |  |  |  |  |  |  |  |  |  |  | — |  |  | 69 |  |  | 69 |  |  |  |  |  |  |  |  |  |  | — |  |  | 69 |
Total residential mortgage |  | 69 |  |  |  |  |  |  |  |  |  |  | — |  |  | 69 |  |  | 69 |  |  |  |  |  |  |  |  |  |  | — |  |  | 69 |
Total consumer |  | 69 |  |  |  |  |  |  |  |  |  |  | — |  |  | 69 |  |  | 69 |  |  |  |  |  |  |  |  |  |  | — |  |  | 69 |
Total |  | $ | 565 |  |  |  |  |  |  |  |  |  |  | $ | — |  |  | $ | 565 |  |  | $ | 9,678 |  |  |  |  |  |  |  |  |  |  | $ | 8,193 |  |  | $ | 17,871 |
(1)Includes principal deferments that modify the terms of the loan from principal and interest payments to interest payments only. (2)Includes increase in new commitments.
Financing Receivable, Modified, Payment Performance | The Company closely monitors the performance of modified loans to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the performance of loans that were modified as of September 30, 2023 since the adoption of ASU 2022-02 on January 1, 2023.
|  |  |  | Payment Performance as of September 30, 2023
($ in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  | Current |  | 30 - 89 Days Past Due |  | 90+ Days Past Due |  | Total
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
C&I |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 58,481 |  |  | $ | — |  |  | $ | 6,432 |  |  | $ | 64,913 |
CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CRE |  |  |  |  |  |  |  |  |  |  |  |  |  | 46,703 |  |  | — |  |  | — |  |  | 46,703 |
Total commercial |  |  |  |  |  |  |  |  |  |  |  |  |  | 105,184 |  |  | — |  |  | 6,432 |  |  | 111,616 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family residential |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,430 |  |  | 1,190 |  |  | 465 |  |  | 9,085 |
HELOCs |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,236 |  |  | 741 |  |  | — |  |  | 1,977 |
Total consumer |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,666 |  |  | 1,931 |  |  | 465 |  |  | 11,062 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 113,850 |  |  | $ | 1,931 |  |  | $ | 6,897 |  |  | $ | 122,678 |
Financing Receivable, Modified, Subsequent Default | The following table presents information on loans that entered into default during the three and nine months ended September 30, 2022 that were modified as TDRs during the 12 months preceding payment default:
|  | Loan Modified as TDRs that Subsequently Defaulted
|  | Three Months Ended September 30, 2022 |  | Nine Months Ended September 30, 2022
($ in thousands) |  | Number of Loans |  | Recorded Investment |  | Number of Loans |  | Recorded Investment
Commercial: |  |  |  |  |  |  |  |
C&I |  | — |  |  | $ | — |  |  | 2 |  |  | $ | 13,901 |
CRE: |  |  |  |  |  |  |  |
Multifamily residential |  | — |  |  | — |  |  | 1 |  |  | 1,008 |
Total CRE |  | — |  |  | — |  |  | 1 |  |  | 1,008 |
Total commercial |  | — |  |  | — |  |  | 3 |  |  | 14,909 |
Total |  | — |  |  | $ | — |  |  | 3 |  |  | $ | 14,909 |
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 Segment |  | Risk Characteristics |  | Macroeconomic Variables
C&I |  | Age percentage, size at origination, delinquency status, sector and risk rating |  | Unemployment rate, Gross Domestic Product (“GDP”), and Two-Ten treasury spread (1)
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 score, delinquency status, maturity date, collateral value, and geographic location |  | Unemployment rate, GDP, and home price index
Other consumer |  | Loss rate approach |  | Immaterial (2)
(1)Macroeconomic variables were updated due to model redevelopment. (2)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 and nine months ended September 30, 2023 and 2022:
|  | Three Months Ended September 30, 2023
|  | Commercial |  | Consumer |  |
|  |  |  | CRE |  | Residential Mortgage |  |  |  |
($ in thousands) |  | C&I |  | CRE |  | Multifamily Residential |  | Construction and Land |  | Single-Family Residential |  | HELOCs |  | Other Consumer |  | Total
Allowance for loan losses, beginning of period |  | $ | 375,333 |  |  | $ | 168,505 |  |  | $ | 22,938 |  |  | $ | 11,325 |  |  | $ | 51,513 |  |  | $ | 4,526 |  |  | $ | 1,260 |  |  | $ | 635,400 |
Provision for (reversal of) credit losses on loans | (a) | 13,006 |  |  | 12,952 |  |  | 772 |  |  | 8,302 |  |  | 3,353 |  |  | (705) |  |  | 456 |  |  | 38,136 |
Gross charge-offs |  | (7,074) |  |  | (3,466) |  |  | — |  |  | (10,413) |  |  | — |  |  | (41) |  |  | (13) |  |  | (21,007) |
Gross recoveries |  | 2,279 |  |  | 49 |  |  | 452 |  |  | 2 |  |  | 64 |  |  | 15 |  |  | — |  |  | 2,861 |
Total net (charge-offs) recoveries |  | (4,795) |  |  | (3,417) |  |  | 452 |  |  | (10,411) |  |  | 64 |  |  | (26) |  |  | (13) |  |  | (18,146) |
Foreign currency translation adjustment |  | 133 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 133 |
Allowance for loan losses, end of period |  | $ | 383,677 |  |  | $ | 178,040 |  |  | $ | 24,162 |  |  | $ | 9,216 |  |  | $ | 54,930 |  |  | $ | 3,795 |  |  | $ | 1,703 |  |  | $ | 655,523 |
|  | Three Months Ended September 30, 2022
|  | Commercial |  | Consumer |  |
|  |  |  | CRE |  | Residential Mortgage |  |  |  |
($ in thousands) |  | C&I |  | CRE |  | Multifamily Residential |  | Construction and Land |  | Single-Family Residential |  | HELOCs |  | Other Consumer |  | Total
Allowance for loan losses, beginning of period |  | $ | 363,282 |  |  | $ | 140,245 |  |  | $ | 26,552 |  |  | $ | 6,682 |  |  | $ | 21,840 |  |  | $ | 3,220 |  |  | $ | 1,449 |  |  | $ | 563,270 |
Provision for credit losses on loans | (a) | 9,575 |  |  | 5,299 |  |  | 5,047 |  |  | 817 |  |  | 6,182 |  |  | 99 |  |  | 255 |  |  | 27,274 |
Gross charge-offs |  | (6,894) |  |  | (288) |  |  | (5,938) |  |  | — |  |  | (775) |  |  | — |  |  | (10) |  |  | (13,905) |
Gross recoveries |  | 7,172 |  |  | 45 |  |  | 19 |  |  | 7 |  |  | 16 |  |  | 5 |  |  | — |  |  | 7,264 |
Total net recoveries (charge-offs) |  | 278 |  |  | (243) |  |  | (5,919) |  |  | 7 |  |  | (759) |  |  | 5 |  |  | (10) |  |  | (6,641) |
Foreign currency translation adjustment |  | (1,386) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,386) |
Allowance for loan losses, end of period |  | $ | 371,749 |  |  | $ | 145,301 |  |  | $ | 25,680 |  |  | $ | 7,506 |  |  | $ | 27,263 |  |  | $ | 3,324 |  |  | $ | 1,694 |  |  | $ | 582,517 |
|  | Nine Months Ended September 30, 2023
|  | Commercial |  | Consumer |  |
|  |  |  | CRE |  | Residential Mortgage |  |  |  |
($ in thousands) |  | C&I |  | CRE |  | Multifamily Residential |  | Construction and Land |  | Single-Family Residential |  | HELOCs |  | Other Consumer |  | Total
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 adoption |  | 5,683 |  |  | 337 |  |  | 6 |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | 6,028 |
Allowance for loan losses, beginning of period |  | 377,383 |  |  | 150,201 |  |  | 23,379 |  |  | 9,109 |  |  | 35,565 |  |  | 4,476 |  |  | 1,560 |  |  | 601,673 |
Provision for (reversal of) credit losses on loans | (a) | 17,587 |  |  | 33,313 |  |  | 303 |  |  | 10,507 |  |  | 19,296 |  |  | (569) |  |  | 244 |  |  | 80,681 |
Gross charge-offs |  | (16,309) |  |  | (5,838) |  |  | — |  |  | (10,413) |  |  | — |  |  | (138) |  |  | (101) |  |  | (32,799) |
Gross recoveries |  | 5,555 |  |  | 364 |  |  | 480 |  |  | 13 |  |  | 69 |  |  | 26 |  |  | — |  |  | 6,507 |
Total net (charge-offs) recoveries |  | (10,754) |  |  | (5,474) |  |  | 480 |  |  | (10,400) |  |  | 69 |  |  | (112) |  |  | (101) |  |  | (26,292) |
Foreign currency translation adjustment |  | (539) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (539) |
Allowance for loan losses, end of period |  | $ | 383,677 |  |  | $ | 178,040 |  |  | $ | 24,162 |  |  | $ | 9,216 |  |  | $ | 54,930 |  |  | $ | 3,795 |  |  | $ | 1,703 |  |  | $ | 655,523 |
|  | Nine Months Ended September 30, 2022
|  | Commercial |  | Consumer |  |
|  |  |  | CRE |  | Residential Mortgage |  |  |  |
($ in thousands) |  | C&I |  | CRE |  | Multifamily Residential |  | Construction and Land |  | Single-Family Residential |  | HELOCs |  | Other Consumer |  | Total
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) | 37,867 |  |  | (5,013) |  |  | 16,680 |  |  | (8,027) |  |  | 10,569 |  |  | 59 |  |  | (140) |  |  | 51,995 |
Gross charge-offs |  | (18,322) |  |  | (1,357) |  |  | (5,947) |  |  | — |  |  | (775) |  |  | (193) |  |  | (90) |  |  | (26,684) |
Gross recoveries |  | 16,688 |  |  | 731 |  |  | 547 |  |  | 65 |  |  | 309 |  |  | 23 |  |  | — |  |  | 18,363 |
Total net (charge-offs) recoveries |  | (1,634) |  |  | (626) |  |  | (5,400) |  |  | 65 |  |  | (466) |  |  | (170) |  |  | (90) |  |  | (8,321) |
Foreign currency translation adjustment |  | (2,736) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2,736) |
Allowance for loan losses, end of period |  | $ | 371,749 |  |  | $ | 145,301 |  |  | $ | 25,680 |  |  | $ | 7,506 |  |  | $ | 27,263 |  |  | $ | 3,324 |  |  | $ | 1,694 |  |  | $ | 582,517 |
The following table summarizes the activities in the allowance for unfunded credit commitments for the three and nine months ended September 30, 2023 and 2022:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
($ in thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  |  |  |
Unfunded credit facilities |  |  |  |  |  |  |  |  |  |  |  |
Allowance for unfunded credit commitments, beginning of period |  | $ | 29,728 |  |  | $ | 24,304 |  |  | $ | 26,264 |  |  | $ | 27,514 |  |  |  |  |
Provision for (reversal of) credit losses on unfunded credit commitments | (b) | 3,864 |  |  | (274) |  |  | 7,319 |  |  | (3,495) |  |  |  |  |
Foreign currency translation adjustment |  | (3) |  |  | 11 |  |  | 6 |  |  | 22 |  |  |  |  |
Allowance for unfunded credit commitments, end of period |  | $ | 33,589 |  |  | $ | 24,041 |  |  | $ | 33,589 |  |  | $ | 24,041 |  |  |  |  |
Provision for credit losses | (a) + (b) | $ | 42,000 |  |  | $ | 27,000 |  |  | $ | 88,000 |  |  | $ | 48,500 |  |  |  |  |
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 and nine months ended September 30, 2023 and 2022:
|  | Three Months Ended September 30, 2023
|  | Commercial |  | Consumer |  |  |  |  |  |
|  |  |  | CRE |  | Residential Mortgage |  |  |  |  |  |
($ in thousands) |  | C&I |  | CRE |  |  |  | Construction and Land |  | Single-Family Residential |  |  |  |  |  | Total
Loans transferred from held-for-investment to held-for-sale (1) |  | $ | 201,299 |  |  | $ | 25,890 |  |  |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 227,189 |
Sales (2)(3) |  | $ | 199,511 |  |  | $ | 29,357 |  |  |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 228,868 |
Purchases (4) |  | $ | 19,588 |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | 140,771 |  |  |  |  |  |  | $ | 160,359 |
|  | Three Months Ended September 30, 2022
|  | Commercial |  |  |  | Consumer |  |  |  |  |  |
|  |  |  | CRE |  |  |  | Residential Mortgage |  |  |  |  |  |
($ in thousands) |  | C&I |  | CRE |  | Multifamily Residential |  |  |  | Single-Family Residential |  |  |  |  |  | Total
Loans transferred from held-for-investment to held-for-sale (1) |  | $ | 59,069 |  |  | $ | 33,616 |  |  | $ | 14,500 |  |  |  |  | $ | 5,178 |  |  |  |  |  |  | $ | 112,363 |
Sales (2)(3) |  | $ | 87,597 |  |  | $ | 33,616 |  |  | $ | — |  |  |  |  | $ | 5,952 |  |  |  |  |  |  | $ | 127,165 |
Purchases (4) |  | $ | 56,507 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 1,155 |  |  |  |  |  |  | $ | 57,662 |
|  | Nine Months Ended September 30, 2023
|  | Commercial |  | Consumer |  |  |  |  |  |
|  |  |  | CRE |  | Residential Mortgage |  |  |  |  |  |
($ in thousands) |  | C&I |  | CRE |  |  | Construction and Land |  | Single-Family Residential |  |  |  |  |  | Total
Loans transferred from held-for-investment to held-for-sale (1) |  | $ | 469,571 |  |  | $ | 29,490 |  |  |  | $ | 8,154 |  |  | $ | — |  |  |  |  |  |  | $ | 507,215 |
Sales (2)(3) |  | $ | 491,178 |  |  | $ | 32,957 |  |  |  | $ | 8,154 |  |  | $ | — |  |  |  |  |  |  | $ | 532,289 |
Purchases (4) |  | $ | 80,550 |  |  | $ | — |  |  |  | $ | — |  |  | $ | 351,880 |  |  |  |  |  |  | $ | 432,430 |
|  | Nine Months Ended September 30, 2022
|  | Commercial |  | Consumer |  |  |  |  |  |
|  |  |  | CRE |  | Residential Mortgage |  |  |  |  |  |
($ in thousands) |  | C&I |  | CRE |  | Multifamily Residential |  |  |  | Single-Family Residential |  |  |  |  |  | Total
Loans transferred from held-for-investment to held-for-sale (1) |  | $ | 378,841 |  |  | $ | 65,250 |  |  | $ | 14,500 |  |  |  |  | $ | 5,178 |  |  |  |  |  |  | $ | 463,769 |
Loans transferred from held-for-sale to held-for-investment |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 631 |  |  |  |  |  |  | $ | 631 |
Sales (2)(3) |  | $ | 375,100 |  |  | $ | 65,250 |  |  | $ | — |  |  |  |  | $ | 6,403 |  |  |  |  |  |  | $ | 446,753 |
Purchases (4) |  | $ | 361,169 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 238,253 |  |  |  |  |  |  | $ | 599,422 |
(1)Includes write-downs of $3.6 million and $4.2 million to the allowance for loan losses related to loans transferred from held-for-investment to held-for-sale for the three and nine months ended September 30, 2023, respectively, and $8.7 million and $8.9 million for the three and nine months ended September 30, 2022, respectively. (2)Includes originated loans sold of $204.1 million and $407.3 million for the three and nine months ended September 30, 2023, respectively, and $86.2 million and $253.9 million for the three and nine months ended September 30, 2022, respectively. Originated loans sold consisted primarily of C&I loans for each of the three and nine months ended September 30, 2023, and C&I and CRE loans for each of the three and nine months ended September 30, 2022. (3)Includes $24.7 million and $125.0 million of purchased loans sold in the secondary market for the three and nine months ended September 30, 2023, respectively, and $40.9 million and $192.9 million for the three and nine months ended September 30, 2022, respectively. (4)C&I loan purchases were comprised primarily of syndicated C&I term loans.

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Period Type: | duration