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Loans and Leases (Tables) | 9 Months Ended
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Sep. 30, 2024
Receivables [Abstract] |
Schedule of Components | We report loans held for investment 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:
| September 30, 2024 |  | December 31, 2023
(dollars in millions) | Amount | Percent of Loans Held for Investment |  | Amount | Percent of Loans Held for Investment
Loans and Leases Held for Investment: |  |  |  |  |
Multi-family | $ | 35,140 |  | 49.4 | % |  | $ | 37,265 |  | 44.0 | %
Commercial real estate | 9,217 |  | 13.0 | % |  | 10,470 |  | 12.4 | %
One-to-four family first mortgage | 5,247 |  | 7.4 | % |  | 6,061 |  | 7.2 | %
Acquisition, development, and construction | 3,265 |  | 4.6 | % |  | 2,912 |  | 3.4 | %
Commercial and industrial(1) | 14,045 |  | 19.7 | % |  | 22,065 |  | 26.1 | %
Lease financing, net of unearned income of $193 and $258, respectively | 2,429 |  | 3.4 | % |  | 3,189 |  | 3.8 | %
Other | 1,773 |  | 2.5 | % |  | 2,657 |  | 3.1 | %
Total loans and leases held for investment (2) | $ | 71,116 |  | 100.0 | % |  | $ | 84,619 |  | 100.0 | %
Allowance for credit losses on loans and leases | (1,264) |  |  |  | (992) |  |
Total loans and leases held for investment, net | 69,852 |  |  |  | 83,627 |  |
Loans held for sale, at fair value | 1,851 |  |  |  | 1,182 |  |
Total loans and leases, net | $ | 71,703 |  |  |  | $ | 84,809 |  |
(1)Includes specialty finance loans and leases of $4.6 billion and $5.2 billion at September 30, 2024 and December 31, 2023, respectively. (2)Excludes accrued interest receivable of $304 million and $423 million at September 30, 2024 and December 31, 2023, respectively, which is included in other assets in the Consolidated Statements of Condition.
Schedule of Quality of Loans Held for Investment | The following table is a summary of non-accrual loans held for sale:
(in millions) |  | September 30, 2024 |  | December 30, 2023
Non-accrual loans held for sale: |  |  |  |
Commercial real estate |  | $ | 112 |  |  | $ | 163 |
One-to-four family first mortgage |  | 64 |  |  | — |
Acquisition, development, and construction |  | 13 |  |  | 1 |
Total non-accrual loans held for sale |  | $ | 189 |  |  | $ | 164 |
The following table presents information regarding the quality of the Company’s loans held for investment at September 30, 2024:
(in millions) |  | Loans 30-89 Days Past Due |  | Non-Accrual Loans |  | Remaining |  | Total Loans Receivable
Multi-family |  | $ | 124 |  |  | $ | 1,504 |  |  | $ | 33,512 |  |  | $ | 35,140 |
Commercial real estate |  | 43 |  |  | 692 |  |  | $ | 8,482 |  |  | 9,217 |
One-to-four family first mortgage |  | 21 |  |  | 39 |  |  | $ | 5,187 |  |  | 5,247 |
Acquisition, development, and construction |  | 16 |  |  | 21 |  |  | $ | 3,228 |  |  | 3,265 |
Commercial and industrial(1) |  | 47 |  |  | 235 |  |  | $ | 16,192 |  |  | 16,474 |
Other |  | 10 |  |  | 23 |  |  | $ | 1,740 |  |  | 1,773 |
Total |  | $ | 261 |  |  | $ | 2,514 |  |  | $ | 68,341 |  |  | $ | 71,116 |
(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 Due |  | Non-Accrual Loans |  | Remaining |  | Total Loans Receivable
Multi-family |  | $ | 121 |  |  | $ | 138 |  |  | $ | 37,006 |  |  | $ | 37,265 |
Commercial real estate |  | 28 |  |  | 128 |  |  | $ | 10,314 |  |  | 10,470 |
One-to-four family first mortgage |  | 40 |  |  | 95 |  |  | $ | 5,926 |  |  | 6,061 |
Acquisition, development, and construction |  | 2 |  |  | 2 |  |  | $ | 2,908 |  |  | 2,912 |
Commercial and industrial(1) |  | 37 |  |  | 43 |  |  | $ | 25,174 |  |  | 25,254 |
Other |  | 22 |  |  | 22 |  |  | $ | 2,613 |  |  | 2,657 |
Total |  | $ | 250 |  |  | $ | 428 |  |  | $ | 83,941 |  |  | $ | 84,619 |
(1)Includes lease financing receivables.
Schedule of Loans Held for Investment by Credit Quality Indicator | 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 September 30, 2024:
| Term Loans |  | Revolving Loans |  | Revolving Loans Converted to Term Loans |  |
| Amortized Cost Basis by Closing Year |  |  |  |
(in millions) | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior To 2020 |  |  |  | Total
Multi-family: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 17 |  |  | $ | 743 |  |  | $ | 6,631 |  |  | $ | 6,870 |  |  | $ | 5,719 |  |  | $ | 4,381 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,361 |
Special Mention | — |  |  | 11 |  |  | 817 |  |  | 294 |  |  | 466 |  |  | 829 |  |  | 18 |  |  | — |  |  | 2,435 |
Substandard | 2 |  |  | 84 |  |  | 441 |  |  | 643 |  |  | 1,282 |  |  | 4,388 |  |  | — |  |  | — |  |  | 6,840 |
Non-accrual | — |  |  | — |  |  | 100 |  |  | 96 |  |  | 240 |  |  | 1,068 |  |  | — |  |  | — |  |  | 1,504 |
Total Multi-family | 19 |  |  | 838 |  |  | 7,989 |  |  | 7,903 |  |  | 7,707 |  |  | 10,666 |  |  | 18 |  |  | — |  |  | 35,140 |
Year to date gross charge-offs | — |  |  | — |  |  | (18) |  |  | (24) |  |  | (34) |  |  | (112) |  |  | — |  |  | — |  |  | (188) |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 130 |  |  | $ | 705 |  |  | $ | 1,667 |  |  | $ | 1,061 |  |  | $ | 673 |  |  | $ | 2,336 |  |  | $ | 97 |  |  | $ | 409 |  |  | $ | 7,078 |
Special Mention | — |  |  | 35 |  |  | 3 |  |  | 12 |  |  | 69 |  |  | 139 |  |  | 9 |  |  | — |  |  | 267 |
Substandard | 1 |  |  | 12 |  |  | 201 |  |  | 62 |  |  | 110 |  |  | 793 |  |  | — |  |  | 1 |  |  | 1,180 |
Non-accrual | — |  |  | 36 |  |  | 138 |  |  | 1 |  |  | 33 |  |  | 484 |  |  | — |  |  | — |  |  | 692 |
Total Commercial Real Estate | 131 |  |  | 788 |  |  | 2,009 |  |  | 1,136 |  |  | 885 |  |  | 3,752 |  |  | 106 |  |  | 410 |  |  | 9,217 |
Year to date gross charge-offs | — |  |  | (8) |  |  | (81) |  |  | — |  |  | (19) |  |  | (303) |  |  | — |  |  | — |  |  | (411) |
One-to-Four Family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 123 |  |  | $ | 551 |  |  | $ | 2,503 |  |  | $ | 875 |  |  | $ | 183 |  |  | $ | 652 |  |  | $ | 84 |  |  | $ | 1 |  |  | $ | 4,972 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | 2 |
Substandard | — |  |  | 1 |  |  | 7 |  |  | 2 |  |  | 20 |  |  | 204 |  |  | — |  |  | — |  |  | 234 |
Non-accrual | — |  |  | 1 |  |  | 5 |  |  | 5 |  |  | 4 |  |  | 21 |  |  | 3 |  |  | — |  |  | 39 |
Total One-to-Four Family | 123 |  |  | 553 |  |  | 2,515 |  |  | 882 |  |  | 207 |  |  | 879 |  |  | 87 |  |  | 1 |  |  | 5,247 |
Year to date gross charge-offs | — |  |  | — |  |  | (1) |  |  | (1) |  |  | — |  |  | (6) |  |  | — |  |  | — |  |  | (8) |
Acquisition, Development and Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 314 |  |  | $ | 542 |  |  | $ | 169 |  |  | $ | 186 |  |  | $ | 1 |  |  | $ | 10 |  |  | $ | 1,640 |  |  | $ | 2 |  |  | $ | 2,864 |
Special Mention | — |  |  | 20 |  |  | 61 |  |  | 42 |  |  | 3 |  |  | — |  |  | 133 |  |  | — |  |  | 259 |
Substandard | 1 |  |  | 11 |  |  | 10 |  |  | 2 |  |  | — |  |  | — |  |  | 97 |  |  | — |  |  | 121 |
Non-accrual | — |  |  | — |  |  | 18 |  |  | 1 |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | 21 |
Total Acquisition, Development and Construction | 315 |  |  | 573 |  |  | 258 |  |  | 231 |  |  | 4 |  |  | 12 |  |  | 1,870 |  |  | 2 |  |  | 3,265 |
Year to date gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4) |  |  | — |  |  | — |  |  | (4) |
Commercial and Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 892 |  |  | $ | 3,099 |  |  | $ | 2,269 |  |  | $ | 786 |  |  | $ | 537 |  |  | $ | 966 |  |  | $ | 5,696 |  |  | $ | 1,319 |  |  | $ | 15,564 |
Special Mention | 15 |  | 19 |  | 24 |  | 9 |  | 8 |  | 4 |  | 69 |  | 6 |  |  | 154 |
Substandard | 32 |  | 38 |  | 110 |  | 83 |  | 6 |  | 43 |  | 209 |  | — |  |  | 521 |
Non-accrual | 0 |  | 14 |  | 187 |  | 8 |  | 14 |  | 12 |  | 0 |  | — |  |  | 235 |
Total Commercial and Industrial | $ | 939 |  |  | $ | 3,170 |  |  | $ | 2,590 |  |  | $ | 886 |  |  | $ | 565 |  |  | $ | 1,025 |  |  | $ | 5,974 |  |  | $ | 1,325 |  |  | $ | 16,474 |
Year to date gross charge-offs | (3) |  |  | (12) |  |  | (17) |  |  | (5) |  |  | (11) |  |  | (31) |  |  | — |  |  | — |  |  | (79) |
Other Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 97 |  |  | $ | 31 |  |  | $ | 13 |  |  | $ | 5 |  |  | $ | 2 |  |  | $ | 37 |  |  | $ | 1,434 |  |  | $ | 130 |  |  | $ | 1,749 |
Special Mention | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Non-accrual | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5 |  |  | 18 |  |  | — |  |  | 23 |
Total Other Loans | 97 |  |  | 31 |  |  | 13 |  |  | 6 |  |  | 2 |  |  | 42 |  |  | 1,452 |  |  | 130 |  |  | 1,773 |
Year to date gross charge-offs | (2) |  |  | (3) |  |  | (3) |  |  | (1) |  |  | (1) |  |  | (5) |  |  | — |  |  | — |  |  | (15) |
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 December 31, 2023:
| Term Loans |  | Revolving Loans |  | Revolving Loans Converted to Term Loans |  |
| Amortized Cost Basis by Closing Year |  |  |  |
(in millions) | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior To 2019 |  |  |  | Total
Multi-family: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 840 |  |  | $ | 7,945 |  |  | $ | 7,967 |  |  | $ | 7,310 |  |  | $ | 3,525 |  |  | $ | 6,537 |  |  | $ | 46 |  |  | $ | — |  |  | $ | 34,170 |
Special Mention | — |  | 95 |  | 33 |  | 377 |  | 36 |  | 227 |  | — |  | — |  | 768
Substandard | — |  | 21 |  | 176 |  | 237 |  | 451 |  | 1,304 |  | — |  | — |  | 2,189
Non-accrual | — |  | 5 |  | 6 |  | — |  | 28 |  | 99 |  | — |  | — |  | 138
Total Multi-family | 840 |  | 8,066 |  | 8,182 |  | 7,924 |  | 4,040 |  | 8,167 |  | 46 |  | — |  | 37,265
Year to date gross charge-offs | — |  | (112) |  | — |  | — |  | — |  | (7) |  | — |  | — |  | (119)
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 880 |  |  | $ | 2,110 |  |  | $ | 1,182 |  |  | $ | 939 |  |  | $ | 1,011 |  |  | $ | 2,439 |  |  | $ | 172 |  |  | $ | 1 |  |  | $ | 8,734 |
Special Mention | — |  | 122 |  | 12 |  | — |  | 116 |  | 106 |  | 11 |  | — |  | 367
Substandard | 44 |  | 49 |  | 47 |  | 72 |  | 239 |  | 790 |  | — |  | — |  | 1,241
Non-accrual | — |  | — |  | 1 |  | — |  | 4 |  | 123 |  | — |  | — |  | 128
Total Commercial Real Estate | 924 |  | 2,281 |  | 1,242 |  | 1,011 |  | 1,370 |  | 3,458 |  | 183 |  | 1 |  | 10,470
Year to date gross charge-offs | — |  | — |  | — |  | — |  | — |  | (56) |  | — |  | — |  | (56)
One-to-Four Family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 526 |  |  | $ | 2,627 |  |  | $ | 920 |  |  | $ | 210 |  |  | $ | 239 |  |  | $ | 721 |  |  | $ | 78 |  |  | $ | 7 |  |  | $ | 5,328 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | —
Substandard | — |  | 5 |  | 2 |  | 20 |  | 69 |  | 542 |  | — |  | — |  | 638
Non-accrual | 1 |  | 11 |  | 17 |  | 8 |  | 18 |  | 37 |  | — |  | 3 |  | 95
Total One-to-Four Family | 527 |  | 2,643 |  | 939 |  | 238 |  | 326 |  | 1,300 |  | 78 |  | 10 |  | 6,061
Year to date gross charge-offs | — |  | — |  | — |  | — |  | (1) |  | (2) |  | — |  | — |  | (3)
Acquisition, Development and Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 406 |  |  | $ | 322 |  |  | $ | 298 |  |  | $ | 4 |  |  | $ | 4 |  |  | $ | 6 |  |  | $ | 1,685 |  |  | $ | 100 |  |  | $ | 2,825 |
Special Mention | — |  | — |  | 24 |  | 30 |  | — |  | — |  | 3 |  | — |  | 57
Substandard | — |  | 6 |  | 7 |  | — |  | — |  | 15 |  | — |  | — |  | 28
Non-accrual | — |  | 1 |  | 1 |  | — |  | — |  | — |  | — |  | — |  | 2
Total Acquisition, Development and Construction | 406 |  | 329 |  | 330 |  | 34 |  | 4 |  | 21 |  | 1,688 |  | 100 |  | 2,912
Year to date gross charge-offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | —
Commercial and Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 9,418 |  |  | $ | 3,547 |  |  | $ | 1,633 |  |  | $ | 984 |  |  | $ | 719 |  |  | $ | 791 |  |  | $ | 7,535 |  |  | $ | 56 |  |  | $ | 24,683 |
Special Mention | 1 |  | 182 |  | 17 |  | 8 |  | 6 |  | 20 |  | 101 |  | — |  | 335
Substandard | 7 |  | 24 |  | 43 |  | 16 |  | 38 |  | 33 |  | 32 |  | — |  | 193
Non-accrual | 2 |  | 14 |  | 2 |  | 11 |  | 1 |  | 2 |  | 11 |  | — |  | 43
Total Commercial and Industrial | 9,428 |  | 3,767 |  | 1,695 |  | 1,019 |  | 764 |  | 846 |  | 7,679 |  | 56 |  | 25,254
Year to date gross charge-offs | (2) |  | (7) |  | (1) |  | (7) |  | — |  | (14) |  | — |  | — |  | (31)
Other Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 171 |  |  | $ | 346 |  |  | $ | 244 |  |  | $ | 133 |  |  | $ | 133 |  |  | $ | 117 |  |  | $ | 1,223 |  |  | $ | 268 |  |  | $ | 2,635 |
Non-accrual | — |  | 2 |  | 1 |  | 1 |  | 1 |  | 2 |  | 4 |  | 11 |  | 22
Total Other Loans | 171 |  | 348 |  | 245 |  | 134 |  | 134 |  | 119 |  | 1,227 |  | 279 |  | 2,657
Year to date gross charge-offs | — |  | (3) |  | (4) |  | (1) |  | (2) |  | (4) |  | — |  | — |  | (14)
Schedule of Collateral | The following table summarizes the recorded investment of the Company’s collateral-dependent loans held for investment by collateral type as of September 30, 2024:
| Collateral Type
(in millions) | Real Property |  | Other
Multi-family | $ | 1,582 |  |  | $ | — |
Commercial real estate | 708 |  |  | — |
One-to-four family first mortgage | 37 |  |  | — |
Acquisition, development, and construction | 20 |  |  | — |
Commercial and industrial | — |  |  | 207 |
Total collateral-dependent loans held for investment | $ | 2,347 |  |  | $ | 207 |
Schedule 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 Reduction |  | Term Extension |  | Combination - Interest Rate Reduction & Term Extension |  | Principal Forgiveness |  | Total |  | Percent of Total Loan class
Three Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |
One-to-four family first mortgage | — |  |  | $ | 1 |  |  | — |  |  | $ | 1 |  |  | $ | 2 |  |  | 0.04 | %
Commercial and industrial | — |  |  | 1 |  |  | — |  |  | — |  |  | 1 |  |  | 0.01 | %
Total | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 3 |  |  |
Three Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |
Multi-family | $ | 100 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 100 |  |  | 0.95 | %
Commercial real estate | 67 |  |  | — |  |  | — |  |  | — |  |  | 67 |  |  | 0.64 | %
One-to-four family first mortgage | 3 |  |  | 1 |  |  | 2 |  |  | — |  |  | 6 |  |  | 0.10 | %
Commercial and industrial | 1 |  |  | 11 |  |  | 2 |  |  | — |  |  | 14 |  |  | 0.07 | %
Other Consumer | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | — |  |  | 1 |  |  | 0.04 | %
Total | $ | 171 |  |  | $ | 12 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 188 |  |  |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |
Multi-family | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | 0.01 | %
Commercial real estate | 8 |  |  | 4 |  |  | — |  |  | — |  |  | 12 |  |  | 0.13 | %
One-to-four family first mortgage | — |  |  | 6 |  |  | 2 |  |  | 1 |  |  | 9 |  |  | 0.15 | %
Commercial and industrial | — |  |  | 8 |  |  | 1 |  |  | — |  |  | 9 |  |  | 0.05 | %
Total | $ | 10 |  |  | $ | 18 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 32 |  |  |
Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |
Multi-family | $ | 100 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 100 |  |  | 0.95 | %
Commercial real estate | 119 |  |  | — |  |  | — |  |  | — |  |  | 119 |  |  | 1.13 | %
One-to-four family first mortgage | 3 |  |  | 4 |  |  | 5 |  |  | — |  |  | 12 |  |  | 0.20 | %
Commercial and industrial | 1 |  |  | 18 |  |  | 2 |  |  | — |  |  | 21 |  |  | 0.10 | %
Other Consumer | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | 0.04 | %
Total | $ | 223 |  |  | $ | 22 |  |  | $ | 8 |  |  | $ | — |  |  | $ | 253 |  |  |
The following table describes the financial effect of the modification made to borrowers experiencing financial difficulty:
| Interest Rate Reduction |  | Term Extension
| Weighted-average contractual interest rate |  |
| From |  | To |  | Weighted-average Term (in years)
Three months ended September 30, 2024 |  |  |  |  |
One-to-four family first mortgage | — | % |  | — | % |  | 10.73
Commercial and industrial | — |  |  | — |  |  | 1.9
Three Months Ended September 30, 2023 |  |  |  |  |
Multi-family | 7.73 | % |  | 6.17 | % |  |
Commercial real estate | 10.77 | % |  | 4.32 | % |  |
One-to-four family first mortgage | — |  |  | — |  |  | 9.9
Commercial and industrial | 8.02 | % |  | 7.74 | % |  | 0.36
Other Consumer | 9.28 | % |  | 4.75 | % |  | 4.8
Nine Months ended September 30, 2024 |  |  |  |  |
Multi-family | 8.08 | % |  | 6.0 | % |  |
Commercial real estate | 8.13 |  |  | 7.0 |  |  |
One-to-four family first mortgage | 4.69 |  |  | 3.7 |  |  | 12.1
Commercial and industrial | 7.81 |  |  | 6.1 |  |  | 0.6
Other Consumer | 10.73 |  |  | 4.3 |  |  | 1.8
Nine Months ended September 30, 2023 |  |  |  |  |
Multi-family | 7.73 | % |  | 6.17 | % |  |
Commercial real estate | 10.48 | % |  | 4.18 | % |  |
One-to-four family first mortgage | — |  |  | — |  |  | 12.0
Commercial and industrial | 8.02 | % |  | 7.74 |  |  | 0.46
Other Consumer | 14.49 | % |  | 8.00 | % |  | 4.8
The following table presents the amortized cost basis of the modifications for borrowers experiencing financial difficulty that subsequently defaulted during the first nine months of 2024 and were within twelve months of the modification date:
(dollars in millions) |  |  | Term Extension |  |  |  | Combination - Interest Rate Reduction and Term/Payment Extension/Delay |  |  |  |
Commercial real estate |  |  | $ | 4 |  |  |  |  | $ | — |  |  |  |  |
One-to-four family first mortgage |  |  | — |  |  |  | 1 |  |  |  |
Commercial and industrial |  |  | 4 |  |  |  | — |  |  |  |
Total |  |  | $ | 8 |  |  |  |  | $ | 1 |  |  |  |  |
The following table provides a summary of loan balances at September 30, 2024, which were modified during the prior twelve months, by class of financing receivable and delinquency status:
|  | September 30, 2024
(dollars in millions) |  | Current |  | 30 - 89 Past Due |  | 90+ Past Due |  | Total
Multi-family |  | $ | 24 |  |  | $ | — |  |  | $ | — |  |  | $ | 24 |
Commercial real estate |  | 8 |  |  | — |  |  | 4 |  |  | 12 |
One-to-four family first mortgage |  | 7 |  |  | — |  |  | 5 |  |  | 12 |
Commercial and industrial |  | 2 |  | 2 |  | 5 |  | 9
Other Consumer |  | 1 |  | — |  | — |  | 1
Total |  | $ | 42 |  |  | $ | 2 |  |  | $ | 14 |  |  | $ | 58 |
The following table provides a summary of loan balances at September 30, 2023, which were modified on or after January 1, 2023, the date the Company adopted accounting guidance which removed the separate recognition and measurement of troubled debt restructurings, through June 30, 2023, by class of financing receivable and delinquency status:
|  | September 30, 2023
(dollars in millions) |  | Current |  | 30 - 89 Past Due |  | 90+ Past Due |  | Total
One-to-four family first mortgage |  | $ | 1 |  |  | $ | — |  |  | $ | 9 |  |  | $ | 10 |
Commercial and industrial |  | 21 |  | — |  | — |  | 21
Other Consumer |  | 1 |  | — |  | — |  | 1
Total |  | $ | 23 |  |  | $ | — |  |  | $ | 9 |  |  | $ | 32 |

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