XML 24 R17.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Bank Loans | 6 Months Ended
--- | ---
Jun. 30, 2024
Receivables [Abstract] |
Bank Loans | NOTE 7 – Bank Loans Our loan portfolio consists primarily of the following segments: Real Estate. Real estate loans include residential real estate non-conforming loans, residential real estate conforming loans, commercial real estate, and home equity lines of credit. The allowance methodology related to real estate loans considers several factors, including, but not limited to, loan-to-value ratio, FICO score, home price index, delinquency status, credit limits, and utilization rates. Commercial and industrial (C&I). C&I loans primarily include commercial and industrial lending used for general corporate purposes, working capital and liquidity, and “event-driven.” “Event-driven” loans support client merger, acquisition or recapitalization activities. C&I lending is structured as revolving lines of credit, letter of credit facilities, term loans and bridge loans. Risk factors considered in determining the allowance for corporate loans include the borrower’s financial strength, seniority of the loan, collateral type, leverage, volatility of collateral value, debt cushion, and covenants. Fund banking. Fund banking loans primarily include capital call lines of credit, also known as subscription lines of credit. These credit facilities are used by closed-end private investment funds (“Fund”) that have raised capital commitments from limited partners to effectively manage the Fund’s cash and bridge timing between the Fund’s investments and capital calls. The lines of credit are collateralized by a pledge of the limited partner’s contractually callable capital and the general partner’s right to call such capital as permitted in the Fund’s partnership agreement. Securities-based loans. Securities-based loans allow clients to borrow money against the value of qualifying securities for any suitable purpose other than purchasing, trading, or carrying securities or refinancing margin debt. The majority of consumer loans are structured as revolving lines of credit and letter of credit facilities and are primarily offered through Stifel’s Pledged Asset (“SPA”) program. The allowance methodology for securities-based lending considers the collateral type underlying the loan, including the liquidity and trading volume of the collateral, position concentration and other borrower specific factors such as personal guarantees. Construction and land. Short-term loans used to finance the development of commercial real estate projects. Other. Other loans include consumer and credit card lending. The following table presents the balance and associated percentage of each major loan category in our bank loan portfolio at June 30, 2024 and December 31, 2023 (in thousands, except percentages):
|  | June 30, 2024 |  |  | December 31, 2023 |
|  | Balance |  |  | Percent |  |  | Balance |  |  | Percent |
Residential real estate |  | $ | 8,253,851 |  |  |  | 42.2 | % |  | $ | 8,047,647 |  |  |  | 41.4 | %
Commercial and industrial |  |  | 3,689,379 |  |  |  | 18.9 |  |  |  | 3,566,987 |  |  |  | 18.3 |
Fund banking |  |  | 3,346,785 |  |  |  | 17.1 |  |  |  | 3,633,126 |  |  |  | 18.7 |
Securities-based loans |  |  | 2,253,045 |  |  |  | 11.5 |  |  |  | 2,306,455 |  |  |  | 11.9 |
Construction and land |  |  | 1,198,395 |  |  |  | 6.1 |  |  |  | 1,034,370 |  |  |  | 5.3 |
Commercial real estate |  |  | 608,911 |  |  |  | 3.1 |  |  |  | 660,631 |  |  |  | 3.4 |
Home equity lines of credit |  |  | 158,472 |  |  |  | 0.8 |  |  |  | 136,270 |  |  |  | 0.7 |
Other |  |  | 45,920 |  |  |  | 0.3 |  |  |  | 55,981 |  |  |  | 0.3 |
Gross bank loans |  |  | 19,554,758 |  |  |  | 100.0 | % |  |  | 19,441,467 |  |  |  | 100.0 | %
Loans in process/(unapplied loan payments), net |  |  | (67,194 | ) |  |  |  |  |  | 1,108 |  |  |  |
Unamortized loan fees, net |  |  | (5,483 | ) |  |  |  |  |  | (8,478 | ) |  |  |
Allowance for loan losses |  |  | (135,114 | ) |  |  |  |  |  | (128,292 | ) |  |  |
Loans held for investment, net |  | $ | 19,346,967 |  |  |  |  |  | $ | 19,305,805 |  |  |  |
At June 30, 2024 and December 31, 2023, Stifel Bancorp had loans outstanding to its executive officers and directors and executive officers and directors of certain affiliated entities in the amount of $38.0 million and $46.0 million, respectively. At June 30, 2024 and December 31, 2023, we had loans held for sale of $472.8 million and $424.0 million, respectively. For the three months ended June 30, 2024 and 2023, we recognized losses, included in other income in the accompanying consolidated statements of operations, of $1.5 million and $2.0 million, respectively, from the sale of originated loans, net of fees and costs. For the six months ended June 30, 2024 and 2023, we recognized losses, included in other income in the accompanying consolidated statements of operations, of $2.9 million and $2.6 million, respectively, from the sale of originated loans, net of fees and costs. At June 30, 2024 and December 31, 2023, loans, primarily consisting of residential and commercial real estate loans of $7.6 billion and $7.4 billion, respectively, were pledged at the Federal Home Loan Bank as collateral for borrowings. Accrued interest receivable for loans and loans held for sale at June 30, 2024 and December 21, 2023 was $97.8 million and $94.0 million, respectively, and is reported in other assets on the consolidated statement of financial condition. The following tables detail activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2024 (in thousands).
|  | Three Months Ended June 30, 2024 |
|  | Beginning Balance |  |  | Provision |  |  | Charge-offs |  |  | Recoveries |  |  | Ending Balance |
Commercial and industrial |  | $ | 65,887 |  |  | $ | 10,708 |  |  | $ | (241 | ) |  | $ | — |  |  | $ | 76,354 |
Construction and land |  |  | 18,589 |  |  |  | (2,210 | ) |  |  | — |  |  |  | — |  |  |  | 16,379 |
Commercial real estate |  |  | 20,689 |  |  |  | (3,687 | ) |  |  | (1,690 | ) |  |  | — |  |  |  | 15,312 |
Fund banking |  |  | 8,763 |  |  |  | 3,416 |  |  |  | — |  |  |  | — |  |  |  | 12,179 |
Residential real estate |  |  | 12,507 |  |  |  | (1,265 | ) |  |  | — |  |  |  | — |  |  |  | 11,242 |
Securities-based loans |  |  | 3,068 |  |  |  | (255 | ) |  |  | — |  |  |  | — |  |  |  | 2,813 |
Home equity lines of credit |  |  | 246 |  |  |  | 116 |  |  |  | — |  |  |  | — |  |  |  | 362 |
Other |  |  | 464 |  |  |  | 9 |  |  |  | — |  |  |  | — |  |  |  | 473 |
|  | $ | 130,213 |  |  | $ | 6,832 |  |  | $ | (1,931 | ) |  | $ | — |  |  | $ | 135,114 |
|  | Six Months Ended June 30, 2024 |
|  | Beginning Balance |  |  | Provision |  |  | Charge-offs |  |  | Recoveries |  |  | Ending Balance |
Commercial and industrial |  | $ | 67,077 |  |  | $ | 12,155 |  |  | $ | (3,811 | ) |  | $ | 933 |  |  | $ | 76,354 |
Construction and land |  |  | 11,817 |  |  |  | 4,562 |  |  |  | — |  |  |  | — |  |  |  | 16,379 |
Commercial real estate |  |  | 21,386 |  |  |  | (4,384 | ) |  |  | (1,690 | ) |  |  | — |  |  |  | 15,312 |
Fund banking |  |  | 10,173 |  |  |  | 2,006 |  |  |  | — |  |  |  | — |  |  |  | 12,179 |
Residential real estate |  |  | 13,855 |  |  |  | (2,613 | ) |  |  | — |  |  |  | — |  |  |  | 11,242 |
Securities-based loans |  |  | 3,035 |  |  |  | (222 | ) |  |  | — |  |  |  | — |  |  |  | 2,813 |
Home equity lines of credit |  |  | 371 |  |  |  | (9 | ) |  |  | — |  |  |  | — |  |  |  | 362 |
Other |  |  | 578 |  |  |  | (105 | ) |  |  | — |  |  |  | — |  |  |  | 473 |
|  | $ | 128,292 |  |  | $ | 11,390 |  |  | $ | (5,501 | ) |  | $ | 933 |  |  | $ | 135,114 |
During the three months ended June 30, 2024, we recorded $3.0 million of net credit loss reserves, including $6.8 million of the reserve for credit losses for funded loans, partially offset by a release of $3.9 million of the allowance for unfunded lending commitments. During the six months ended June 30, 2024, we recorded $8.2 million of net credit loss reserves, including $11.4 million of the reserve for credit losses for funded loans and $0.3 million related to employee retention awards, partially offset by a release of $3.5 million of the allowance for unfunded lending commitments. During the three months ended June 30, 2023, we recorded $7.8 million of net credit loss reserves, including $6.1 million of the reserve for credit losses for funded loans and $1.7 million of the reserve for unfunded lending commitments. During the six months ended June 30, 2023, we recorded $12.7 million of net credit loss reserves, including $11.5 million of the reserve for credit losses for funded loans and $1.3 million of the reserve for unfunded lending commitments. The provision for unfunded lending agreements is included in the provision for credit losses on the consolidated statement of operations. The expected credit losses for unfunded lending commitments, including standby letters of credit and binding unfunded loan commitments, are reported on the consolidated statement of financial condition in accounts payable and accrued expenses. The following tables detail activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2023 (in thousands).
|  | Three Months Ended June 30, 2023 |
|  | Beginning Balance |  |  | Provision |  |  | Charge-offs |  |  | Recoveries |  |  | Ending Balance |
Commercial and industrial |  | $ | 55,734 |  |  | $ | 11,241 |  |  | $ | (598 | ) |  | $ | — |  |  | $ | 66,377 |
Residential real estate |  |  | 22,696 |  |  |  | (8,283 | ) |  |  | — |  |  |  | — |  |  |  | 14,413 |
Commercial real estate |  |  | 11,566 |  |  |  | 1,863 |  |  |  | — |  |  |  | — |  |  |  | 13,429 |
Construction and land |  |  | 10,317 |  |  |  | 2,328 |  |  |  | — |  |  |  | — |  |  |  | 12,645 |
Fund banking |  |  | 12,943 |  |  |  | (765 | ) |  |  | — |  |  |  | — |  |  |  | 12,178 |
Securities-based loans |  |  | 3,117 |  |  |  | (31 | ) |  |  | — |  |  |  | — |  |  |  | 3,086 |
Home equity lines of credit |  |  | 412 |  |  |  | (244 | ) |  |  | — |  |  |  | — |  |  |  | 168 |
Other |  |  | 377 |  |  |  | 8 |  |  |  | — |  |  |  | — |  |  |  | 385 |
|  | $ | 117,162 |  |  | $ | 6,117 |  |  | $ | (598 | ) |  | $ | — |  |  | $ | 122,681 |
|  | Six Months Ended June 30, 2023 |
|  | Beginning Balance |  |  | Provision |  |  | Charge-offs |  |  | Recoveries |  |  | Ending Balance |
Commercial and industrial |  | $ | 54,143 |  |  | $ | 12,699 |  |  | $ | (618 | ) |  | $ | 153 |  |  | $ | 66,377 |
Residential real estate |  |  | 20,441 |  |  |  | (6,028 | ) |  |  | — |  |  |  | — |  |  |  | 14,413 |
Commercial real estate |  |  | 12,897 |  |  |  | 532 |  |  |  | — |  |  |  | — |  |  |  | 13,429 |
Construction and land |  |  | 8,568 |  |  |  | 4,077 |  |  |  | — |  |  |  | — |  |  |  | 12,645 |
Fund banking |  |  | 11,711 |  |  |  | 467 |  |  |  | — |  |  |  | — |  |  |  | 12,178 |
Securities-based loans |  |  | 3,157 |  |  |  | (71 | ) |  |  | — |  |  |  | — |  |  |  | 3,086 |
Home equity lines of credit |  |  | 364 |  |  |  | (196 | ) |  |  | — |  |  |  | — |  |  |  | 168 |
Other |  |  | 372 |  |  |  | 13 |  |  |  | — |  |  |  | — |  |  |  | 385 |
|  | $ | 111,653 |  |  | $ | 11,493 |  |  | $ | (618 | ) |  | $ | 153 |  |  | $ | 122,681 |
The following tables present the aging of the recorded investment in past due loans at June 30, 2024 and December 31, 2023 by portfolio segment (in thousands):
|  | As of June 30, 2024 |
|  | 30 – 89 Days Past Due |  |  | 90 or More Days Past Due |  |  | Total Past Due |  |  | Current Balance |  |  | Total |
Residential real estate |  | $ | 16,109 |  |  | $ | 2,359 |  |  | $ | 18,468 |  |  | $ | 8,235,383 |  |  | $ | 8,253,851 |
Commercial and industrial |  |  | 27,475 |  |  |  | 2,329 |  |  |  | 29,804 |  |  |  | 3,659,575 |  |  |  | 3,689,379 |
Fund banking |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,346,785 |  |  |  | 3,346,785 |
Securities-based loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,253,045 |  |  |  | 2,253,045 |
Construction and land |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,198,395 |  |  |  | 1,198,395 |
Commercial real estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 608,911 |  |  |  | 608,911 |
Home equity lines of credit |  |  | 681 |  |  |  | 378 |  |  |  | 1,059 |  |  |  | 157,413 |  |  |  | 158,472 |
Other |  |  | 41 |  |  |  | 63 |  |  |  | 104 |  |  |  | 45,816 |  |  |  | 45,920 |
Total |  | $ | 44,306 |  |  | $ | 5,129 |  |  | $ | 49,435 |  |  | $ | 19,505,323 |  |  | $ | 19,554,758 |
|  | As of June 30, 2024* |
|  | Nonaccrual |  |  | Nonperforming loans with no allowance |  |  | Total |
Commercial and industrial |  | $ | 33,266 |  |  | $ | 13,388 |  |  | $ | 46,654 |
Commercial real estate |  |  | 35,649 |  |  |  | — |  |  |  | 35,649 |
Residential real estate |  |  | 1,435 |  |  |  | 924 |  |  |  | 2,359 |
Home equity lines of credit |  |  | 378 |  |  |  | — |  |  |  | 378 |
Other |  |  | 63 |  |  |  | — |  |  |  | 63 |
Total |  | $ | 70,791 |  |  | $ | 14,312 |  |  | $ | 85,103 |
* There were no loans past due 90 days and still accruing interest at June 30, 2024.
|  | As of December 31, 2023 |
|  | 30 – 89 Days Past Due |  |  | 90 or More Days Past Due |  |  | Total Past Due |  |  | Current Balance |  |  | Total |
Residential real estate |  | $ | 15,312 |  |  | $ | 3,945 |  |  | $ | 19,257 |  |  | $ | 8,028,390 |  |  | $ | 8,047,647 |
Fund banking |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,633,126 |  |  |  | 3,633,126 |
Commercial and industrial |  |  | — |  |  |  | 2,022 |  |  |  | 2,022 |  |  |  | 3,564,965 |  |  |  | 3,566,987 |
Securities-based loans |  |  | — |  |  |  | 3 |  |  |  | 3 |  |  |  | 2,306,452 |  |  |  | 2,306,455 |
Construction and land |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,034,370 |  |  |  | 1,034,370 |
Commercial real estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 660,631 |  |  |  | 660,631 |
Home equity lines of credit |  |  | 570 |  |  |  | 87 |  |  |  | 657 |  |  |  | 135,613 |  |  |  | 136,270 |
Other |  |  | 45 |  |  |  | 59 |  |  |  | 104 |  |  |  | 55,877 |  |  |  | 55,981 |
Total |  | $ | 15,927 |  |  | $ | 6,116 |  |  | $ | 22,043 |  |  | $ | 19,419,424 |  |  | $ | 19,441,467 |
|  | As of December 31, 2023* |
|  | Nonaccrual |  |  | Nonperforming loans with no allowance |  |  | Total |
Commercial real estate |  | $ | 39,195 |  |  | $ | — |  |  | $ | 39,195 |
Residential real estate |  |  | 3,090 |  |  |  | 1,000 |  |  |  | 4,090 |
Commercial and industrial |  |  | — |  |  |  | 2,022 |  |  |  | 2,022 |
Securities-based loans |  |  | — |  |  |  | 3 |  |  |  | 3 |
Home equity lines of credit |  |  | 22 |  |  |  | 65 |  |  |  | 87 |
Other |  |  | 59 |  |  |  | — |  |  |  | 59 |
Total |  | $ | 42,366 |  |  | $ | 3,090 |  |  | $ | 45,456 |
* There were no loans past due 90 days and still accruing interest at December 31, 2023. In the normal course of business, we may modify the original terms of a loan agreement. In certain circumstances, we may agree to modify the original terms of a loan agreement to a borrower experiencing financial difficulty, which may include a borrower in default, financial distress, bankruptcy or other circumstances. Modifications of loans to borrowers experiencing financial difficulty are designed to reduce our loss exposure while providing borrowers with an opportunity to work through financial difficulties, often to avoid foreclosure or bankruptcy. Loan modifications to borrowers experiencing financial difficulty typically involve principal forgiveness, an interest rate reduction, an other-than-insignificant payment delay (i.e., payment or maturity forbearance greater than six months), or a term extension, or any combination thereof. Modified loans to borrowers experiencing financial difficulty are subject to our nonaccrual policies. Loans to borrowers experiencing financial difficulty which were modified during the three and six months ended June 30, 2024 and 2023 were not significant. The gross interest income related to impaired loans, which would have been recorded, had these loans been current in accordance with their original terms, and the interest income recognized on these loans during the three and six months ended June 30, 2024 and 2023, were insignificant to the consolidated financial statements. Credit quality indicators As of June 30, 2024, bank loans were primarily extended to non-investment grade borrowers. Substantially all of these loans align with the U.S. Federal bank regulatory agencies’ definition of Pass. Loans meet the definition of Pass when they are performing and do not demonstrate adverse characteristics that are likely to result in a credit loss. A loan is determined to be impaired when principal or interest becomes 90 days past due or when collection becomes uncertain. At the time a loan is determined to be impaired, the accrual of interest and amortization of deferred loan origination fees is discontinued (“nonaccrual status”), and any accrued and unpaid interest income is reversed. We closely monitor economic conditions and loan performance trends to manage and evaluate our exposure to credit risk. Trends in delinquency ratios are an indicator, among other considerations, of credit risk within our loan portfolio. The level of nonperforming assets represents another indicator of the potential for future credit losses. Accordingly, key metrics we track and use in evaluating the credit quality of our loan portfolio include delinquency and nonperforming asset rates, as well as charge-off rates and our internal risk ratings of the loan portfolio. In general, we are a secured lender. At June 30, 2024 and December 31, 2023, 96.9% and 97.0% of our loan portfolio was collateralized, respectively. Collateral is required in accordance with the normal credit evaluation process based upon the creditworthiness of the customer and the credit risk associated with the particular transaction. The Company uses the following definitions for risk ratings: Pass. A credit exposure rated pass has a continued expectation of timely repayment, all obligations of the borrower are current, and the obligor complies with material terms and conditions of the lending agreement. Special Mention. Extensions of credit that have potential weakness that deserve management’s close attention, and if left uncorrected may, at some future date, result in the deterioration of the repayment prospects or collateral position. Substandard. Obligor has a well-defined weakness that jeopardizes the repayment of the debt and has a high probability of payment default with the distinct possibility that the Company will sustain some loss if noted deficiencies are not corrected. Doubtful. Inherent weakness in the exposure makes the collection or repayment in full, based on existing facts, conditions and circumstances, highly improbable, and the amount of loss is uncertain. Substandard loans are regularly reviewed for impairment. Doubtful loans are considered impaired. When a loan is impaired the impairment is measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, or as a practical expedient, the observable market price of the loan or the fair value of the collateral if the loan is collateral dependent. Based on the most recent analysis performed, the risk category of our loan portfolio was as follows (in thousands):
|  | As of June 30, 2024 |
|  | Pass |  |  | Special Mention |  |  | Substandard |  |  | Doubtful |  |  | Total |
Residential real estate |  | $ | 8,248,043 |  |  | $ | 3,449 |  |  | $ | 2,359 |  |  | $ | — |  |  | $ | 8,253,851 |
Commercial and industrial |  |  | 3,344,761 |  |  |  | 166,429 |  |  |  | 148,385 |  |  |  | 29,804 |  |  |  | 3,689,379 |
Fund banking |  |  | 3,346,785 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,346,785 |
Securities-based loans |  |  | 2,253,045 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,253,045 |
Construction and land |  |  | 1,149,751 |  |  |  | — |  |  |  | 48,644 |  |  |  | — |  |  |  | 1,198,395 |
Commercial real estate |  |  | 485,955 |  |  |  | 30,827 |  |  |  | 92,129 |  |  |  | — |  |  |  | 608,911 |
Home equity lines of credit |  |  | 158,094 |  |  |  | — |  |  |  | 378 |  |  |  | — |  |  |  | 158,472 |
Other |  |  | 45,833 |  |  |  | 36 |  |  |  | — |  |  |  | 51 |  |  |  | 45,920 |
Total |  | $ | 19,032,267 |  |  | $ | 200,741 |  |  | $ | 291,895 |  |  | $ | 29,855 |  |  | $ | 19,554,758 |
|  | As of December 31, 2023 |
|  | Pass |  |  | Special Mention |  |  | Substandard |  |  | Doubtful |  |  | Total |
Residential real estate |  | $ | 8,042,246 |  |  | $ | 1,456 |  |  | $ | 3,945 |  |  | $ | — |  |  | $ | 8,047,647 |
Fund banking |  |  | 3,633,126 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,633,126 |
Commercial and industrial |  |  | 3,294,891 |  |  |  | 89,302 |  |  |  | 180,772 |  |  |  | 2,022 |  |  |  | 3,566,987 |
Securities-based loans |  |  | 2,306,452 |  |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | 2,306,455 |
Construction and land |  |  | 963,083 |  |  |  | 71,287 |  |  |  | — |  |  |  | — |  |  |  | 1,034,370 |
Commercial real estate |  |  | 512,171 |  |  |  | 49,264 |  |  |  | 99,196 |  |  |  | — |  |  |  | 660,631 |
Home equity lines of credit |  |  | 135,806 |  |  |  | 377 |  |  |  | 87 |  |  |  | — |  |  |  | 136,270 |
Other |  |  | 55,922 |  |  |  | — |  |  |  | — |  |  |  | 59 |  |  |  | 55,981 |
Total |  | $ | 18,943,697 |  |  | $ | 211,686 |  |  | $ | 284,000 |  |  | $ | 2,084 |  |  | $ | 19,441,467 |
|  | Term Loans Amortized Cost Basis by Origination Year – June 30, 2024 |  |  |  |  |  |  |
|  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Revolving Loans Amortized Cost Basis |  |  | Total |
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 557,765 |  |  | $ | 1,143,019 |  |  | $ | 2,547,526 |  |  | $ | 2,229,118 |  |  | $ | 880,955 |  |  | $ | 889,660 |  |  | $ | — |  |  | $ | 8,248,043 |
Special Mention |  |  | — |  |  |  | 1,100 |  |  |  | 576 |  |  |  | — |  |  |  | — |  |  |  | 1,773 |  |  |  | — |  |  |  | 3,449 |
Substandard |  |  | — |  |  |  | — |  |  |  | 1,576 |  |  |  | — |  |  |  | — |  |  |  | 783 |  |  |  | — |  |  |  | 2,359 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 557,765 |  |  | $ | 1,144,119 |  |  | $ | 2,549,678 |  |  | $ | 2,229,118 |  |  | $ | 880,955 |  |  | $ | 892,216 |  |  | $ | — |  |  | $ | 8,253,851 |
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 420,529 |  |  | $ | 606,248 |  |  | $ | 805,524 |  |  | $ | 668,401 |  |  | $ | 79,867 |  |  | $ | 121,206 |  |  | $ | 642,986 |  |  | $ | 3,344,761 |
Special Mention |  |  | 421 |  |  |  | 10,289 |  |  |  | 46,704 |  |  |  | 28,125 |  |  |  | 877 |  |  |  | — |  |  |  | 80,013 |  |  |  | 166,429 |
Substandard |  |  | 6,790 |  |  |  | — |  |  |  | 53,197 |  |  |  | 34,522 |  |  |  | — |  |  |  | 3,462 |  |  |  | 50,414 |  |  |  | 148,385 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 27,475 |  |  |  | — |  |  |  | — |  |  |  | 2,329 |  |  |  | 29,804 |
|  | $ | 427,740 |  |  | $ | 616,537 |  |  | $ | 905,425 |  |  | $ | 758,523 |  |  | $ | 80,744 |  |  | $ | 124,668 |  |  | $ | 775,742 |  |  | $ | 3,689,379 |
Fund banking: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | — |  |  | $ | 790 |  |  | $ | 41,588 |  |  | $ | — |  |  | $ | 447 |  |  | $ | — |  |  | $ | 3,303,960 |  |  | $ | 3,346,785 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | — |  |  | $ | 790 |  |  | $ | 41,588 |  |  | $ | — |  |  | $ | 447 |  |  | $ | — |  |  | $ | 3,303,960 |  |  | $ | 3,346,785 |
Securities-based loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 2,187 |  |  | $ | 14,728 |  |  | $ | 2,421 |  |  | $ | 2,123 |  |  | $ | 48,039 |  |  | $ | 36,572 |  |  | $ | 2,146,975 |  |  | $ | 2,253,045 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 2,187 |  |  | $ | 14,728 |  |  | $ | 2,421 |  |  | $ | 2,123 |  |  | $ | 48,039 |  |  | $ | 36,572 |  |  | $ | 2,146,975 |  |  | $ | 2,253,045 |
Construction and land: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | — |  |  | $ | 175,662 |  |  | $ | 557,241 |  |  | $ | 212,681 |  |  | $ | 191,027 |  |  | $ | 13,140 |  |  | $ | — |  |  | $ | 1,149,751 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 48,644 |  |  |  | — |  |  |  | 48,644 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | — |  |  | $ | 175,662 |  |  | $ | 557,241 |  |  | $ | 212,681 |  |  | $ | 191,027 |  |  | $ | 61,784 |  |  | $ | — |  |  | $ | 1,198,395 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | — |  |  | $ | 32,985 |  |  | $ | 283,639 |  |  | $ | 64,660 |  |  | $ | 30,371 |  |  | $ | 74,300 |  |  | $ | — |  |  | $ | 485,955 |
Special Mention |  |  | — |  |  |  | — |  |  |  | 30,827 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 30,827 |
Substandard |  |  | — |  |  |  | — |  |  |  | 56,480 |  |  |  | 35,649 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 92,129 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | — |  |  | $ | 32,985 |  |  | $ | 370,946 |  |  | $ | 100,309 |  |  | $ | 30,371 |  |  | $ | 74,300 |  |  | $ | — |  |  | $ | 608,911 |
Home equity lines of credit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 158,094 |  |  | $ | 158,094 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 378 |  |  |  | 378 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 158,472 |  |  | $ | 158,472 |
Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 2,855 |  |  | $ | — |  |  | $ | 3,991 |  |  | $ | — |  |  | $ | 10,000 |  |  | $ | 22,053 |  |  | $ | 6,934 |  |  | $ | 45,833 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 36 |  |  |  | 36 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 51 |  |  |  | 51 |
|  | $ | 2,855 |  |  | $ | — |  |  | $ | 3,991 |  |  | $ | — |  |  | $ | 10,000 |  |  | $ | 22,053 |  |  | $ | 7,021 |  |  | $ | 45,920 |

X
- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration