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Loans and Leases (Tables)
 3 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
Summary of Components We report LHFI loans at their amortized cost, which includes the outstanding principal balance adjusted for any unamortized premiums, discounts, deferred fees and unamortized fair value adjustments for acquired loans:
March 31, 2024December 31, 2023
(dollars in millions)AmountPercent of
Loans
Held for
Investment		AmountPercent of
Loans
Held for
Investment
Loans and Leases Held for Investment:
Mortgage Loans:
Multi-family$36,859 44.8 %$37,265 44.0 %
Commercial real estate10,32312.5 %10,47012.4 %
One-to-four family first mortgage5,8077.1 %6,0617.2 %
Acquisition, development, and construction3,2073.9 %2,9123.4 %
Total mortgage loans held for investment (1)
$56,196 68.3 %$56,708 67.0 %
Other Loans:
Commercial and industrial21,42826.0 %22,06526.1 %
Lease financing, net of unearned income of $243 and $258, respectively
2,9903.6 %3,1893.8 %
Total commercial and industrial loans (2)
24,41829.6 %25,25429.8 %
Other1,7132.1 %2,6573.1 %
Total other loans held for investment26,13131.7 %27,91133.0 %
Total loans and leases held for investment (1)
$82,327 100.0 %$84,619 100.0 %
Allowance for credit losses on loans and leases(1,215)(992)
Total loans and leases held for investment, net81,11283,627
Loans held for sale, at fair value981 1,182
Total loans and leases, net$82,093 $84,809 
(1)Excludes accrued interest receivable of $410 million and $410 million at March 31, 2024 and December 31, 2023, respectively, which is included in other assets in the Consolidated Statements of Condition.
(2)Includes specialty finance loans and leases of $4.8 billion and $5.2 billion at March 31, 2024 and December 31, 2023, respectively.
Schedule of Quality of Loans Held for Investment
The following table presents information regarding the quality of the Company’s loans held for investment at March 31, 2024:

(in millions)Loans 30-89 Days Past DueNon- Accrual LoansTotal Past Due LoansCurrent LoansTotal Loans Receivable
Multi-family$103 $339 $442 $36,417 $36,859 
Commercial real estate9 264 273 10,050 10,323 
One-to-four family first mortgage26 98 124 5,683 5,807 
Acquisition, development, and construction6 3 9 3,198 3,207 
Commercial and industrial(1)
60 73 133 24,285 24,418 
Other8 21 29 1,684 1,713 
Total$212 $798 $1,010 $81,317 $82,327 
(1)Includes lease financing receivables.
The following table presents information regarding the quality of the Company’s loans held for investment at December 31, 2023:

(in millions)Loans 30-89 Days Past DueNon- Accrual LoansTotal Past Due Loans
Current Loans(2)
Total Loans Receivable
Multi-family$121 $138 $259 $37,006 $37,265 
Commercial real estate28 128 156 10,314 10,470 
One-to-four family first mortgage40 95 135 5,926 6,061 
Acquisition, development, and construction2 2 4 2,908 2,912 
Commercial and industrial(1)
37 43 80 25,174 25,254 
Other22 22 44 2,613 2,657 
Total$250 $428 $678 $83,941 $84,619 
(1)Includes lease financing receivables.
Summary of Loans Held for Investment by Credit Quality Indicator
The following table summarizes the Company’s portfolio of loans held for investment by credit quality indicator at March 31, 2024:
`
(in millions)Multi- FamilyCommercial Real EstateOne-to- Four FamilyAcquisition, Development, and Construction
Commercial and Industrial
Other
Total Loans(1)
Credit Quality Indicator:
Pass
$32,209 $8,417 $4,985 $3,081 $23,816 $1,682 $74,190 
Special mention702 237 — 72 148 — 1,159 
Substandard3,948 1,669 822 54 454 31 6,978 
Total$36,859 $10,323 $5,807 $3,207 $24,418 $1,713 $82,327 
(1)Includes loans carried under the fair value option
The following table summarizes the Company’s portfolio of loans held for investment by credit quality indicator at December 31, 2023:

(in millions)Multi- FamilyCommercial Real EstateOne-to- Four FamilyAcquisition, Development, and Construction
Commercial and Industrial(2)
Other
Total Loans
Credit Quality Indicator:
Pass
$34,170 $8,734 $5,328 $2,825 $24,683 $2,634 $78,374 
Special mention768 367 — 57 335 — 1,527 
Substandard2,327 1,369 733 30 236 23 4,718 
Total$37,265 $10,470 $6,061 $2,912 $25,254 $2,657 $84,619 
The following table presents, by credit quality indicator, loan class, and year of origination, the amortized cost basis of the Company’s loans and leases as of March 31, 2024:

Vintage Year
(in millions)20242023202220212020Prior To
2020		Revolving LoansRevolving Loans Converted to Term LoansTotal
Pass
$281 $3,425 $12,524 $9,987 $8,571 $11,760 $2,128 $15 $48,691 
Special Mention4 — 139 85 74 631 78 — 1,011 
Substandard— 65 401 351 436 5,235 6 — 6,494 
Total mortgage loans$285 $3,490 $13,064 $10,423 $9,081 $17,626 $2,212 $15 $56,196 
Current-period gross write-offs— — — (6)(3)(66)— — (75)
Pass
$5,662 $3,548 $3,326 $1,401 $896 $1,599 $8,901 $166 $25,499 
Special Mention18 4 48 17 13 5 43 — 148 
Substandard10 13 189 42 40 79 110 1 484 
Total other loans$5,690 $3,565 $3,563 $1,460 $949 $1,683 $9,054 $167 $26,131 
Current-period gross write-offs$— $(1)$(8)$(5)$— $(2)$— $— $(16)
Total$5,975 $7,055 $16,627 $11,883 $10,030 $19,309 $11,266 $182 $82,327 
Summary of Collateral
The following table summarizes the extent to which collateral secures the Company’s collateral-dependent loans held for investment by collateral type as of March 31, 2024:

Collateral Type
(in millions)Real PropertyOther
Multi-family$457 $— 
Commercial real estate412 — 
One-to-four family first mortgage107 — 
Acquisition, development, and construction5 — 
Commercial and industrial— 78 
Other— — 
Total collateral-dependent loans held for investment$981 $78 
Summary of Modifications to Borrowers Experiencing Financial Difficulty and Performance of Loans Modified in Last 12 Months, and TDRs
The following table summarizes the amortized cost basis of loans modified during the reporting period to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of modification:

Amortized Cost
(dollars in millions)Interest Rate ReductionTerm ExtensionCombination - Interest Rate Reduction & Term ExtensionTotalPercent of Total Loan class
Three months ended March 31, 2024
Multi-family
$8 $— $— $8 0.08 %
Commercial real estate2 — — 2 0.02 %
One-to-four family first mortgage— 1 1 2 0.03 %
Commercial and Industrial— 13 — 13 0.06 %
Other Consumer— — 1 1 0.06 %
Total$10 $14 $2 $26 
Three Months Ended March 31, 2023
Multi-family
$— $— $— $— — %
Commercial real estate44 — — 44 0.42 %
One-to-four family first mortgage— 1 1 2 0.03 %
Commercial and Industrial— — — — — %
Other Consumer$— $— $— — — %
Total$44 $1 $1 $46 

The following table describes the financial effect of the modification made to borrowers experiencing financial difficulty:

Interest Rate ReductionTerm Extension
Weighted-average contractual interest rate
FromToWeighted-average Term (in years)
Three months ended March 31, 2024
Multi-family
8.13 %6.95 %
Commercial real estate8.08 %6.00 %
One-to-four family first mortgage4.66 %3.76 %15.3
Commercial and industrial6.78 %6.50 %0.3
Other Consumer11.01 %4.76 %1.8
Three Months Ended March 31, 2023
Multi-family
— %— %
Commercial real estate10.50 %4.00 %
One-to-four family first mortgage4.84 %3.97 %12.7
Commercial and industrial— %— %
Other Consumer— %— %
The following tables depict the performance of loans that have been modified during the twelve-month period ended March 31, 2024:
March 31, 2024
(dollars in millions)Current30 - 89 Past Due90+ Past DueTotal
Multi-family
$8 $— $— 8 
Commercial real estate2 — — 2 
One-to-four family first mortgage$2 $— $8 $10 
Commercial and industrial122—14
Other Consumer1——1
Total$25 $2 $8 $35 

March 31, 2023
(dollars in millions)Current30 - 89 Past Due90+ Past DueTotal
One-to-four family first mortgage$— $— $3 $3 
Commercial and industrial44——44
Total$44 $— $3 $47