XML 38 R14.htm IDEA: XBRL DOCUMENT
v3.23.2

LOANS & ALLOWANCE FOR CREDIT LOSSES | 12 Months Ended
--- | ---
Jun. 30, 2023
Receivables [Abstract] |
LOANS & ALLOWANCE FOR CREDIT LOSSES | LOANS & ALLOWANCE FOR CREDIT LOSSES The Company categorizes the loan portfolio into six segments: Single Family - Mortgage & Warehouse, Multifamily and Commercial Mortgage, Commercial Real Estate, Commercial & Industrial - Non Real Estate, Auto & Consumer and Other. For further detail of the segments of the Company’s loan portfolio, refer to Note 1 - “Organizations and Summary of Significant Accounting Policies.” The following table sets forth the composition of the loan portfolio as of the dates indicated:
| At June 30,
(Dollars in thousands) | 2023 |  | 2022
Single Family - Mortgage & Warehouse | $ | 4,173,833 |  |  | $ | 3,988,462 |
Multifamily and Commercial Mortgage | 3,082,225 |  |  | 2,877,680 |
Commercial Real Estate | 6,199,818 |  |  | 4,781,044 |
Commercial & Industrial - Non-RE | 2,639,650 |  |  | 2,028,128 |
Auto & Consumer | 546,264 |  |  | 567,228 |
Other | 10,236 |  |  | 11,134 |
Total gross loans | 16,652,026 |  |  | 14,253,676 |
Allowance for credit losses - loans | (166,680) |  |  | (148,617) |
Unaccreted premiums (discounts) and loan fees | (28,618) |  |  | (13,998) |
Total net loans | $ | 16,456,728 |  |  | $ | 14,091,061 |
Accrued interest receivable on loans held for investment totaled $77.9 million and $50.1 million as of June 30, 2023 and 2022, respectively. At June 30, 2023 and 2022, the Company pledged certain loans totaling $5,128.4 million and $3,823.1 million, respectively, to the FHLB and $3,689.5 million and $3,861.6 million, respectively, to the Federal Reserve Bank of San Francisco (“FRBSF”). In the ordinary course of business, the Company has granted related party loans collateralized by real property to certain executive officers, directors and their affiliates, which is summarized in the following table:
| At or for the Year Ended June 30,
(Dollars in thousands) | 2023 |  | 2022
Outstanding loan balance | $ | 29,181 |  |  | $ | 25,573 |
Loans originated and funded | $ | 5,052 |  |  | $ | — |
Principal repayments | $ | 1,444 |  |  | $ | 2,980 |
The Company’s loan portfolio consisted of approximately 7% fixed interest rate loans and 93% adjustable interest rate loans as of June 30, 2023. Until June 30, 2023, the Company’s adjustable rate loans were primarily based upon indices using LIBOR, SOFR and Ameribor, and following June 30, 2023, such loans are based on SOFR, Ameribor or other interest rate indices. The Company’s loan portfolio consisted of approximately 9% fixed interest rate loans and 91% adjustable interest rate loans as of June 30, 2022. At June 30, 2023 and 2022, portfolio loans serviced by others were $32.5 million, or 0.20%, and $37.3 million, or 0.26%, respectively, of the loan portfolio. As of June 30, 2023, the Company had $1,331.2 million of interest-only loans and $8.9 million of option adjustable-rate mortgage loans and as of June 30, 2022, the Company had $1,197.4 million of interest-only loans and $7.0 million of option adjustable-rate mortgage loans. Through June 30, 2023 and June 30, 2022, the net amount of deferred interest on these loan types was not material to the financial position or operating results of the Company. The following tables summarize activity in the allowance for credit losses - loans by portfolio classes for the periods indicated:
| June 30, 2023
(Dollars in thousands) | Single Family - Mortgage & Warehouse |  | Multifamily and Commercial Mortgage |  | Commercial Real Estate |  | Commercial & Industrial - Non-RE |  | Auto & Consumer |  | Other |  | Total
Balance at July 1, 2022 | $ | 19,670 |  |  | $ | 14,655 |  |  | $ | 69,339 |  |  | $ | 30,808 |  |  | $ | 14,114 |  |  | $ | 31 |  |  | $ | 148,617 |
Provision expense (benefit) for credit losses - loans | (2,302) |  |  | 2,193 |  |  | 3,416 |  |  | 15,521 |  |  | 5,938 |  |  | (16) |  |  | 24,750 |
Charge-offs | (314) |  |  | — |  |  | — |  |  | — |  |  | (9,142) |  |  | — |  |  | (9,456) |
Recoveries | 449 |  |  | — |  |  | — |  |  | 18 |  |  | 2,302 |  |  | — |  |  | 2,769 |
Balance at June 30, 2023 | $ | 17,503 |  |  | $ | 16,848 |  |  | $ | 72,755 |  |  | $ | 46,347 |  |  | $ | 13,212 |  |  | $ | 15 |  |  | $ | 166,680 |
| June 30, 2022
(Dollars in thousands) | Single Family - Mortgage & Warehouse |  | Multifamily and Commercial Mortgage |  | Commercial Real Estate |  | Commercial & Industrial - Non-RE |  | Auto & Consumer |  | Other |  |  |  | Total
Balance at July 1, 2021 | $ | 26,604 |  |  | $ | 13,146 |  |  | $ | 57,928 |  |  | $ | 28,460 |  |  | $ | 6,519 |  |  | $ | 301 |  |  |  |  | $ | 132,958 |
Provision expense (benefit) for credit losses - loans | (7,009) |  |  | 1,332 |  |  | 11,411 |  |  | 2,544 |  |  | 10,492 |  |  | (270) |  |  |  |  | 18,500 |
Charge-offs | (82) |  |  | — |  |  | — |  |  | (322) |  |  | (4,024) |  |  | — |  |  |  |  | (4,428) |
Recoveries | 157 |  |  | 177 |  |  | — |  |  | 126 |  |  | 1,127 |  |  | — |  |  |  |  | 1,587 |
Balance at June 30, 2022 | $ | 19,670 |  |  | $ | 14,655 |  |  | $ | 69,339 |  |  | $ | 30,808 |  |  | $ | 14,114 |  |  | $ | 31 |  |  |  |  | $ | 148,617 |
| June 30, 2021
(Dollars in thousands) | Single Family - Mortgage & Warehouse |  | Multifamily and Commercial Mortgage |  | Commercial Real Estate |  | Commercial & Industrial - Non-RE |  | Auto & Consumer |  | Other |  | Total
Balance at July 1, 2020 | $ | 25,899 |  |  | $ | 4,719 |  |  | $ | 21,052 |  |  | $ | 9,954 |  |  | $ | 9,462 |  |  | $ | 4,721 |  |  | $ | 75,807 |
Effect of adoption of ASC 326 | 6,318 |  |  | 7,408 |  |  | 25,893 |  |  | 7,042 |  |  | 610 |  |  | 29 |  |  | 47,300 |
Provision expense (benefit) for credit losses - loans | (3,242) |  |  | 1,196 |  |  | 11,238 |  |  | 14,251 |  |  | (1,354) |  |  | 1,661 |  |  | 23,750 |
Charge-offs | (2,502) |  |  | (177) |  |  | (255) |  |  | (2,833) |  |  | (3,517) |  |  | (7,274) |  |  | (16,558) |
Recoveries | 131 |  |  | — |  |  | — |  |  | 46 |  |  | 1,318 |  |  | 1,164 |  |  | 2,659 |
Balance at June 30, 2021 | $ | 26,604 |  |  | $ | 13,146 |  |  | $ | 57,928 |  |  | $ | 28,460 |  |  | $ | 6,519 |  |  | $ | 301 |  |  | $ | 132,958 |
The allowance for credit losses increased primarily due to loan growth across the commercial real estate, commercial and industrial, multifamily residential and commercial mortgage and single family residential portfolios, partially offset by changes in the macroeconomic environment reflecting a shift in the weighting towards the more benign forecast scenarios. Additionally: •For the commercial and industrial portfolio, changes in the loan product mix further increased the provision for credit losses; •For the commercial real estate portfolio, the increase in provision from loan growth was partially offset by a decrease in uncertainty in the forward outlook for interest rates; •For the multifamily and commercial mortgage portfolios, the increase in provision from loan growth was further increased by declines in the related prices within the third-party macroeconomic forecasts in the related price index. L oan products within each portfolio contain varying collateral types which impact the estimate of the loss given default utilized in the calculation of the allowance. For further discussion of the model method of estimating expected lifetime credit losses see Note 1—“Organizations and Summary of Significant Accounting Policies.” The following table presents LTVs for the Company’s real estate loans outstanding as of June 30, 2023:
| Total Real Estate Loans |  | Single Family - Mortgage & Warehouse |  |  |  |  |  | Multifamily and Commercial Mortgage |  | Commercial Real Estate
Weighted-Average LTV | 48.9 | % |  | 57.4 | % |  |  |  |  |  | 53.8 | % |  | 40.8 | %
Median LTV | 53.0 | % |  | 55.0 | % |  |  |  |  |  | 50.0 | % |  | 38.0 | %
The Company’s effective weighted-average LTV was 47.0% for real estate loans originated during the fiscal year ended June 30, 2023.
Credit Quality Disclosure. The following tables provide the outstanding unpaid balance of loans that are performing and nonaccrual by portfolio class as of the dates indicated:
| June 30, 2023
(Dollars in thousands) | Single Family - Mortgage & Warehouse |  | Multifamily and Commercial Mortgage |  | Commercial Real Estate |  | Commercial & Industrial - Non-RE |  | Auto & Consumer |  | Other |  | Total
Performing | $ | 4,143,119 |  |  | $ | 3,047,122 |  |  | $ | 6,184,966 |  |  | $ | 2,636,661 |  |  | $ | 544,807 |  |  | $ | 8,191 |  |  | $ | 16,564,866 |
Nonaccrual | 30,714 |  |  | 35,103 |  |  | 14,852 |  |  | 2,989 |  |  | 1,457 |  |  | 2,045 |  |  | 87,160 |
Total | $ | 4,173,833 |  |  | $ | 3,082,225 |  |  | $ | 6,199,818 |  |  | $ | 2,639,650 |  |  | $ | 546,264 |  |  | $ | 10,236 |  |  | $ | 16,652,026 |
Nonaccrual loans to total loans |  | 0.52 | %
| June 30, 2022
(Dollars in thousands) | Single Family - Mortgage & Warehouse |  | Multifamily and Commercial Mortgage |  | Commercial Real Estate |  | Commercial & Industrial - Non-RE |  | Auto & Consumer |  | Other |  | Total
Performing | $ | 3,922,038 |  |  | $ | 2,844,270 |  |  | $ | 4,766,192 |  |  | $ | 2,025,139 |  |  | $ | 566,789 |  |  | $ | 11,054 |  |  | $ | 14,135,482 |
Nonaccrual | 66,424 |  |  | 33,410 |  |  | 14,852 |  |  | 2,989 |  |  | 439 |  |  | 80 |  |  | 118,194 |
Total | $ | 3,988,462 |  |  | $ | 2,877,680 |  |  | $ | 4,781,044 |  |  | $ | 2,028,128 |  |  | $ | 567,228 |  |  | $ | 11,134 |  |  | $ | 14,253,676 |
Nonaccrual loans to total loans |  | 0.83 | %
There were no nonaccrual loans without an allowance for credit losses as of June 30, 2023 and June 30, 2022. There was no interest income recognized on non-accrual loans for the years ended June 30, 2023, 2022 and 2021. From time to time, the Company modifies loan terms temporarily for borrowers who are experiencing financial stress. These loans are performing and accruing and generally return to the original loan terms after the modification term expires. Approximately 1.77% of our nonaccrual loans at June 30, 2023 were considered troubled debt restructurings (“TDRs”), compared to 1.18% at June 30, 2022. Borrowers who make timely payments after TDRs are considered non-performing for at least six months. Generally, after six months of timely payments, those TDRs are reclassified from the nonaccrual loan category to performing and return to accrual status. There was no amount in performing TDRs for each of the years ended June 30, 2023, 2022 and 2021. There was no interest recognized on loans that were TDRs for the years ended June 30, 2023, 2022 and 2021, respectively. Credit Quality Indicators. The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends. The Company analyzes loans individually by classifying the loans based on credit risk. The Company uses the following definitions for risk ratings. Pass. Loans classified as pass are well protected by the current net worth and paying capacity of the obligor or by the fair value of any underlying collateral, less cost to acquire and sell in a timely manner. Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The Company reviews and grades loans following a continuous review process, featuring coverage of all loan types and business lines at least quarterly. Continuous reviewing provides more effective risk monitoring because it immediately tests for potential impacts caused by changes in personnel, policy, products or underwriting standards. The amortized cost basis by fiscal year of origination and credit quality indicator of the Company’s loan as of June 30, 2023 was as follows:
| Loans Held for Investment Origination Year |  | Revolving Loans |  |  |  |  |  | Total
(Dollars in thousands) | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  |  |  |
Single Family-Mortgage & Warehouse |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 730,498 |  |  | $ | 1,346,804 |  |  | $ | 522,873 |  |  | $ | 324,458 |  |  | $ | 255,547 |  |  | $ | 639,401 |  |  | $ | 243,175 |  |  |  |  |  |  | $ | 4,062,756 |
Special Mention | — |  |  | 7,280 |  |  | 7,026 |  |  | 8,303 |  |  | 12,942 |  |  | 18,244 |  |  | 6,614 |  |  |  |  |  |  | 60,409 |
Substandard | — |  |  | 5,188 |  |  | 4,686 |  |  | 14,384 |  |  | 2,024 |  |  | 24,386 |  |  | — |  |  |  |  |  |  | 50,668 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total | 730,498 |  |  | 1,359,272 |  |  | 534,585 |  |  | 347,145 |  |  | 270,513 |  |  | 682,031 |  |  | 249,789 |  |  |  |  |  |  | 4,173,833 |
Multifamily and Commercial Mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 558,787 |  |  | 975,186 |  |  | 498,744 |  |  | 314,383 |  |  | 224,592 |  |  | 404,222 |  |  | — |  |  |  |  |  |  | 2,975,914 |
Special Mention | — |  |  | 9,691 |  |  | 4,636 |  |  | 1,360 |  |  | 7,705 |  |  | — |  |  | — |  |  |  |  |  |  | 23,392 |
Substandard | — |  |  | 3,145 |  |  | 5,686 |  |  | 38,857 |  |  | 6,181 |  |  | 29,050 |  |  | — |  |  |  |  |  |  | 82,919 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total | 558,787 |  |  | 988,022 |  |  | 509,066 |  |  | 354,600 |  |  | 238,478 |  |  | 433,272 |  |  | — |  |  |  |  |  |  | 3,082,225 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 1,867,476 |  |  | 2,323,095 |  |  | 631,500 |  |  | 87,059 |  |  | 117,928 |  |  | — |  |  | 960,024 |  |  |  |  |  |  | 5,987,082 |
Special Mention | 29,000 |  |  | 43,427 |  |  | — |  |  | 8,457 |  |  | 800 |  |  | 15,062 |  |  | — |  |  |  |  |  |  | 96,746 |
Substandard | — |  |  | 29,200 |  |  | 37,951 |  |  | 18,500 |  |  | 15,487 |  |  | 14,852 |  |  | — |  |  |  |  |  |  | 115,990 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total | 1,896,476 |  |  | 2,395,722 |  |  | 669,451 |  |  | 114,016 |  |  | 134,215 |  |  | 29,914 |  |  | 960,024 |  |  |  |  |  |  | 6,199,818 |
Commercial & Industrial - Non-RE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 488,120 |  |  | 358,214 |  |  | 29,777 |  |  | 14,794 |  |  | 2,098 |  |  | — |  |  | 1,707,619 |  |  |  |  |  |  | 2,600,622 |
Special Mention | — |  |  | 8,221 |  |  | — |  |  | 11,413 |  |  | — |  |  | — |  |  | 600 |  |  |  |  |  |  | 20,234 |
Substandard | — |  |  | 17,762 |  |  | 1,032 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 18,794 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total | 488,120 |  |  | 384,197 |  |  | 30,809 |  |  | 26,207 |  |  | 2,098 |  |  | — |  |  | 1,708,219 |  |  |  |  |  |  | 2,639,650 |
Auto & Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 161,831 |  |  | 256,154 |  |  | 70,223 |  |  | 24,906 |  |  | 19,897 |  |  | 9,929 |  |  | — |  |  |  |  |  |  | 542,940 |
Special Mention | 423 |  |  | 632 |  |  | 453 |  |  | 60 |  |  | 14 |  |  | 6 |  |  | — |  |  |  |  |  |  | 1,588 |
Substandard | 350 |  |  | 785 |  |  | 233 |  |  | 133 |  |  | 162 |  |  | 73 |  |  | — |  |  |  |  |  |  | 1,736 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total | 162,604 |  |  | 257,571 |  |  | 70,909 |  |  | 25,099 |  |  | 20,073 |  |  | 10,008 |  |  | — |  |  |  |  |  |  | 546,264 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 5,721 |  |  | — |  |  | 1,306 |  |  | — |  |  | — |  |  | 1,164 |  |  | — |  |  |  |  |  |  | 8,191 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Substandard | — |  |  | 2,000 |  |  | 45 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 2,045 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total | 5,721 |  |  | 2,000 |  |  | 1,351 |  |  | — |  |  | — |  |  | 1,164 |  |  | — |  |  |  |  |  |  | 10,236 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 3,812,433 |  |  | 5,259,453 |  |  | 1,754,423 |  |  | 765,600 |  |  | 620,062 |  |  | 1,054,716 |  |  | 2,910,818 |  |  |  |  |  |  | 16,177,505 |
Special Mention | 29,423 |  |  | 69,251 |  |  | 12,115 |  |  | 29,593 |  |  | 21,461 |  |  | 33,312 |  |  | 7,214 |  |  |  |  |  |  | 202,369 |
Substandard | 350 |  |  | 58,080 |  |  | 49,633 |  |  | 71,874 |  |  | 23,854 |  |  | 68,361 |  |  | — |  |  |  |  |  |  | 272,152 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total | $ | 3,842,206 |  |  | $ | 5,386,784 |  |  | $ | 1,816,171 |  |  | $ | 867,067 |  |  | $ | 665,377 |  |  | $ | 1,156,389 |  |  | $ | 2,918,032 |  |  |  |  |  |  | $ | 16,652,026 |
As a % of total gross loans | 23.07% |  | 32.35% |  | 10.91% |  | 5.21% |  | 4.00% |  | 6.94% |  | 17.52% |  |  |  |  |  | 100.0%
The amortized cost basis by fiscal year of origination and credit quality indicator of the Company’s loan as of June 30, 2022 was as follows:
| Loans Held for Investment Origination Year |  | Revolving Loans |  |  |  |  |  | Total
(Dollars in thousands) | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  |  |  |
Single Family-Mortgage & Warehouse |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 1,484,027 |  |  | $ | 600,054 |  |  | $ | 402,712 |  |  | $ | 303,999 |  |  | $ | 279,248 |  |  | $ | 548,703 |  |  | $ | 241,925 |  |  |  |  |  |  | $ | 3,860,668 |
Special Mention | — |  |  | — |  |  | 4,790 |  |  | 2,505 |  |  | 4,125 |  |  | 10,971 |  |  | 38,637 |  |  |  |  |  |  | 61,028 |
Substandard | — |  |  | 2,288 |  |  | 3,928 |  |  | 18,407 |  |  | 5,955 |  |  | 36,188 |  |  | — |  |  |  |  |  |  | 66,766 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total | 1,484,027 |  |  | 602,342 |  |  | 411,430 |  |  | 324,911 |  |  | 289,328 |  |  | 595,862 |  |  | 280,562 |  |  |  |  |  |  | 3,988,462 |
Multifamily and Commercial Mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 999,819 |  |  | 569,486 |  |  | 429,247 |  |  | 259,161 |  |  | 219,548 |  |  | 316,013 |  |  | — |  |  |  |  |  |  | 2,793,274 |
Special Mention | 1,200 |  |  | — |  |  | 534 |  |  | 539 |  |  | — |  |  | 968 |  |  | — |  |  |  |  |  |  | 3,241 |
Substandard | — |  |  | 5,772 |  |  | 34,343 |  |  | 9,613 |  |  | 7,308 |  |  | 24,129 |  |  | — |  |  |  |  |  |  | 81,165 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total | 1,001,019 |  |  | 575,258 |  |  | 464,124 |  |  | 269,313 |  |  | 226,856 |  |  | 341,110 |  |  | — |  |  |  |  |  |  | 2,877,680 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 2,482,366 |  |  | 990,887 |  |  | 358,422 |  |  | 186,800 |  |  | 28,758 |  |  | — |  |  | 602,412 |  |  |  |  |  |  | 4,649,645 |
Special Mention | — |  |  | 32,351 |  |  | 12,138 |  |  | 16,487 |  |  | 15,000 |  |  | — |  |  | — |  |  |  |  |  |  | 75,976 |
Substandard | — |  |  | — |  |  | 12,575 |  |  | 18,043 |  |  | 23,507 |  |  | — |  |  | 1,298 |  |  |  |  |  |  | 55,423 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total | 2,482,366 |  |  | 1,023,238 |  |  | 383,135 |  |  | 221,330 |  |  | 67,265 |  |  | — |  |  | 603,710 |  |  |  |  |  |  | 4,781,044 |
Commercial & Industrial - Non-RE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 435,228 |  |  | 66,226 |  |  | 25,629 |  |  | 61,932 |  |  | 9,268 |  |  | — |  |  | 1,388,435 |  |  |  |  |  |  | 1,986,718 |
Special Mention | 13 |  |  | — |  |  | — |  |  | 186 |  |  | 710 |  |  | — |  |  | — |  |  |  |  |  |  | 909 |
Substandard | 2,988 |  |  | 28,359 |  |  | 9,154 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 40,501 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total | 438,229 |  |  | 94,585 |  |  | 34,783 |  |  | 62,118 |  |  | 9,978 |  |  | — |  |  | 1,388,435 |  |  |  |  |  |  | 2,028,128 |
Auto & Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 352,468 |  |  | 107,882 |  |  | 43,377 |  |  | 37,008 |  |  | 16,147 |  |  | 8,891 |  |  | — |  |  |  |  |  |  | 565,773 |
Special Mention | 204 |  |  | 188 |  |  | 24 |  |  | 110 |  |  | — |  |  | 1 |  |  | — |  |  |  |  |  |  | 527 |
Substandard | 157 |  |  | 311 |  |  | 224 |  |  | 205 |  |  | 25 |  |  | 6 |  |  | — |  |  |  |  |  |  | 928 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total | 352,829 |  |  | 108,381 |  |  | 43,625 |  |  | 37,323 |  |  | 16,172 |  |  | 8,898 |  |  | — |  |  |  |  |  |  | 567,228 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 3,057 |  |  | 6,185 |  |  | — |  |  | — |  |  | 1,091 |  |  | 721 |  |  | — |  |  |  |  |  |  | 11,054 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Substandard | — |  |  | — |  |  | 46 |  |  | — |  |  | — |  |  | 34 |  |  | — |  |  |  |  |  |  | 80 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total | 3,057 |  |  | 6,185 |  |  | 46 |  |  | — |  |  | 1,091 |  |  | 755 |  |  | — |  |  |  |  |  |  | 11,134 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 5,756,965 |  |  | 2,340,720 |  |  | 1,259,387 |  |  | 848,900 |  |  | 554,060 |  |  | 874,328 |  |  | 2,232,772 |  |  |  |  |  |  | 13,867,132 |
Special Mention | 1,417 |  |  | 32,539 |  |  | 17,486 |  |  | 19,827 |  |  | 19,835 |  |  | 11,940 |  |  | 38,637 |  |  |  |  |  |  | 141,681 |
Substandard | 3,145 |  |  | 36,730 |  |  | 60,270 |  |  | 46,268 |  |  | 36,795 |  |  | 60,357 |  |  | 1,298 |  |  |  |  |  |  | 244,863 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Total | $ | 5,761,527 |  |  | $ | 2,409,989 |  |  | $ | 1,337,143 |  |  | $ | 914,995 |  |  | $ | 610,690 |  |  | $ | 946,625 |  |  | $ | 2,272,707 |  |  |  |  |  |  | $ | 14,253,676 |
As a % of total gross loans | 40.42% |  | 16.91% |  | 9.38% |  | 6.42% |  | 4.28% |  | 6.64% |  | 15.95% |  |  |  |  |  | 100.0%
The Company considers the performance of the loan portfolio and its impact on the allowance for credit losses. The Company also evaluates credit quality based on the aging status of its loans. Certain short-term loans do not have a fixed maturity date and are treated as delinquent if not paid in full 90 days after the origination date. The following tables provide the outstanding unpaid balance of loans and leases that are past due 30 days or more by portfolio class as of the dates indicated:
| June 30, 2023
(Dollars in thousands) | Current |  | 30-59 Days |  | 60-89 Days |  | 90+ Days |  | Total
Single Family-Mortgage & Warehouse | $ | 4,102,150 |  | $ | 20,832 |  |  | $ | 7,971 |  |  | $ | 42,880 |  |  | $ | 4,173,833
Multifamily and Commercial Mortgage | 3,048,217 |  | 2,705 |  |  | 1,124 |  |  | 30,179 |  |  | 3,082,225
Commercial Real Estate | 6,173,716 |  | 11,250 |  |  | — |  |  | 14,852 |  |  | 6,199,818
Commercial & Industrial - Non-RE | 2,639,650 |  | — |  |  | — |  |  | — |  |  | 2,639,650
Auto & Consumer | 537,181 |  | 6,529 |  |  | 1,707 |  |  | 847 |  |  | 546,264
Other | 8,024 |  | 68 |  |  | 1 |  |  | 2,143 |  |  | 10,236
Total | $ | 16,508,938 |  | $ | 41,384 |  |  | $ | 10,803 |  |  | $ | 90,901 |  |  | $ | 16,652,026
As a % of gross loans | 99.14 | % |  | 0.25 | % |  | 0.06 | % |  | 0.55 | % |  | 100.00 | %
| June 30, 2022
(Dollars in thousands) | Current |  | 30-59 Days |  | 60-89 Days |  | 90+ Days |  | Total
Single Family-Mortgage & Warehouse | $ | 3,918,491 |  | $ | 5,167 |  | $ | 1,518 |  | $ | 63,286 |  | $ | 3,988,462
Multifamily and Commercial Mortgage | 2,839,554 |  | 9,455 |  | 2,115 |  | 26,556 |  | 2,877,680
Commercial Real Estate | 4,766,192 |  | — |  | 14,852 |  | — |  | 4,781,044
Commercial & Industrial - Non-RE | 2,028,128 |  | — |  | — |  | — |  | 2,028,128
Auto & Consumer | 560,888 |  | 4,865 |  | 1,009 |  | 466 |  | 567,228
Other | 10,528 |  | 413 |  | — |  | 193 |  | 11,134
Total | $ | 14,123,781 |  | $ | 19,900 |  | $ | 19,494 |  | $ | 90,501 |  | $ | 14,253,676
As a % of gross loans | 99.09 | % |  | 0.14 | % |  | 0.14 | % |  | 0.63 | % |  | 100.00 | %
Loans reaching 90+ days past due are generally placed on non-accrual. As of June 30, 2023, there was a $14 million loan over 90 days past due and still accruing interest as the Company expects to collect the principal and interest amounts due. There were no such loans as of June 30, 2022. Loans in process of foreclosure were $22.2 million and $20.7 million as of June 30, 2023 and June 30, 2022, respectively. Credit Risk Concentration Concentrations of credit risk arise when a number of borrowers are engaged in similar business activities in the same geographic region, or when they have similar economic features that would cause their ability to meet contractual obligations to be similarly affected by changes in economic conditions. Concentrations of 10% or more existed in the Single Family, Multifamily and Commercial Real Estate loan categories at June 30, 2023 and June 30, 2022. At June 30, 2023, California accounted for 71.4% and New York accounted for 11.0% of loans in the Single Family loan category. California accounted for 69.1% and New York accounted for 19.7% of loans in the Multifamily loan category. New York accounted for 37.5% and Florida accounted for 10.5% of loans in the Commercial Real Estate loan category. At June 30, 2022, California accounted for 70.6% and New York accounted for 13.0% of loans in the Single Family loan category. California accounted for 68.3% and New York accounted for 18.8% of loans in the Multifamily loan category. California accounted for 11.9% and New York accounted for 40.5% of loans in the Commercial Real Estate loan category. Unfunded Loan Commitment Reserves Unfunded loan commitment reserves are included in “Accounts payable and other liabilities” in the Consolidated Balance Sheets. Provisions for the unfunded loan commitments are included in the Consolidated Statements of Income in “General and administrative expenses.” The following tables present a summary of the activity in the unfunded loan commitment liabilities for the periods indicated:
| Year Ended June 30,
(Dollars in thousands) | 2023 |  | 2022 |  | 2021
BALANCE—beginning of year | $ | 10,973 |  |  | $ | 5,723 |  |  | $ | 323 |
Effect of adoption of ASC 326 | — |  |  | — |  |  | 5,700 |
Provision (Benefit) | (500) |  |  | 5,250 |  |  | (300) |
BALANCE—end of year | $ | 10,473 |  |  | $ | 10,973 |  |  | $ | 5,723 |

X
- Definition The entire disclosure for claims held for amounts due a 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 + 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