XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.22.0.1

LOANS AND CREDIT QUALITY | 12 Months Ended
--- | ---
Dec. 31, 2021
Receivables [Abstract] |
LOANS AND CREDIT QUALITY | LOANS AND CREDIT QUALITY: The Company's LHFI is divided into two portfolio segments, commercial loans and consumer loans. Within each portfolio segment, the Company monitors and assesses credit risk based on the risk characteristics of each of the following loan classes: single family and home equity and other loans within the consumer loan portfolio and non-owner occupied CRE, multifamily, construction and land development, owner occupied CRE and commercial business loans within the commercial loan portfolio. LHFI consists of the following:
| At December 31, |
(in thousands) | 2021 |  | 2020 |
CRE |  |  |  |
Non-owner occupied CRE | $ | 705,359 |  |  | $ | 829,538 |  |
Multifamily | 2,415,359 |  |  | 1,428,092 |  |
Construction/land development | 496,144 |  |  | 553,695 |  |
Total | 3,616,862 |  |  | 2,811,325 |  |
Commercial and industrial loans |  |  |  |
Owner occupied CRE | 457,706 |  |  | 467,256 |  |
Commercial business | 401,872 |  |  | 645,723 |  |
Total | 859,578 |  |  | 1,112,979 |  |
Consumer loans |  |  |  |
Single family (1) | 763,331 |  |  | 915,123 |  |
Home equity and other | 303,078 |  |  | 404,753 |  |
Total (1) | 1,066,409 |  |  | 1,319,876 |  |
Total LHFI | 5,542,849 |  |  | 5,244,180 |  |
ACL | (47,123) |  |  | (64,294) |  |
Total LHFI less ACL | $ | 5,495,726 |  |  | $ | 5,179,886 |  |
(1) Includes $7.3 million and $7.1 million at December 31, 2021 and 2020, respectively, of loans where a fair value option election was made at the time of origination and, therefore, are carried at fair value with changes recognized in the consolidated income statements. Loans totaling $2.8 billion and $1.4 billion at December 31, 2021 and 2020, respectively, were pledged to secure borrowings from the FHLB and loans totaling $419 million and $569 million at December 31, 2021 and 2020, respectively, were pledged to secure borrowings from the FRBSF. It is the Company's policy to make loans to officers, directors and their associates in the ordinary course of business on substantially the same terms as those prevailing at the time for comparable transactions with other persons. The following is a summary of activity during the year ended December 2021 with respect to such aggregate loans to these related parties and their associates:
(in thousands) | Year Ended December 31, 2021
Beginning balance | $ | 73 |
New loans and advances, net of principal repayments | 1,475 |
Ending balance | $ | 1,548 |
Credit Risk Concentrations Concentrations of credit risk arise when a number of customers are engaged in similar business activities or 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. LHFI are primarily secured by real estate located in the Pacific Northwest, California and Hawaii. At December 31, 2021 and 2020, multifamily loans in the state of California represented 33% and 19% of the total LHFI portfolio, respectively. Credit Quality Management considers the level of ACL to be appropriate to cover credit losses expected over the life of the loans for the LHFI portfolio as of December 31, 2021. The cumulative loss rate used as the basis for the estimate of credit losses is comprised of the Bank’s historical loss experience and eight qualitative factors for current and forecasted periods. During 2021, the historical expected loss rates decreased from December 31, 2020 due to minimal losses, stable portfolio credit distribution and favorable product mix risk composition. During 2021, the Qualitative Factors decreased significantly due to the improvement in economic conditions, continued favorable performance and outlook of the impact of the COVID-19 pandemic of our loan portfolio. As of December 31, 2021, the Bank expects that the markets in which it operates will have stable collateral values and economic outlook over the two-year forecast period. In addition to the ACL for LHFI, the Company maintains a separate allowance for unfunded loan commitments which is included in accounts payable and other liabilities on our consolidated balance sheets. The allowance for unfunded commitments was $2.4 million and $1.6 million at December 31, 2021 and 2020, respectively. The Bank has elected to exclude accrued interest receivable from the evaluation of the ACL. Accrued interest on LHFI was $17.8 million and $21.2 million at December 31, 2021 and 2020, respectively and was reported in other assets in the consolidated balance sheets. Activity in the ACL for LHFI and the allowance for unfunded commitments was as follows:
|  |  | Years Ended December 31,
(in thousands) |  |  |  |  | 2021 |  | 2020 |  | 2019
ACL for LHFI |  |  |  |  |  |  |  |  |
Beginning balance |  |  |  |  | $ | 64,294 |  |  | $ | 41,772 |  |  | $ | 41,470 |
Provision for credit losses |  |  |  |  | (15,816) |  |  | 21,843 |  |  | (122) |
Net (charge-offs) recoveries |  |  |  |  | (1,355) |  |  | (1,164) |  |  | 424 |
Impact of ASC 326 adoption |  |  |  |  | — |  |  | 1,843 |  |  | — |
Ending balance |  |  |  |  | $ | 47,123 |  |  | $ | 64,294 |  |  | $ | 41,772 |
Allowance for unfunded commitments |  |  |  |  |  |  |  |  |
Beginning balance |  |  |  |  | $ | 1,588 |  |  | $ | 1,065 |  |  | $ | 1,443 |
Provision for credit losses |  |  |  |  | 816 |  |  | (1,374) |  |  | (378) |
Impact of ASC 326 adoption |  |  |  |  | — |  |  | 1,897 |  |  | — |
Ending balance |  |  |  |  | $ | 2,404 |  |  | $ | 1,588 |  |  | $ | 1,065 |
Provision for credit losses: |  |  |  |  |  |  |  |  |
Allowance for credit losses-loans |  |  |  |  | $ | (15,816) |  |  | $ | 21,843 |  |  | $ | (122) |
Allowance for unfunded commitments |  |  |  |  | 816 |  |  | (1,374) |  |  | (378) |
Total |  |  |  |  | $ | (15,000) |  |  | $ | 20,469 |  |  | $ | (500) |
Activity in the ACL by loan portfolio and loan sub-class was as follows.
| Year Ended December 31, 2021
(in thousands) | Beginning balance |  | Charge-offs |  | Recoveries |  | Provision |  | Ending balance
CRE |  |  |  |  |  |  |  |  |
Non-owner occupied CRE | $ | 8,845 |  |  | $ | — |  |  | $ | — |  |  | $ | (1,336) |  |  | $ | 7,509 |
Multifamily | 6,072 |  |  | — |  |  | — |  |  | (218) |  |  | 5,854 |
Construction/land development |  |  |  |  |  |  |  |  | — |
Multifamily construction | 4,903 |  |  | — |  |  | — |  |  | (4,396) |  |  | 507 |
CRE construction | 1,670 |  |  | — |  |  | — |  |  | (1,520) |  |  | 150 |
Single family construction | 5,130 |  |  | — |  |  | — |  |  | 1,281 |  |  | 6,411 |
Single family construction to permanent | 1,315 |  |  | — |  |  | — |  |  | (260) |  |  | 1,055 |
Total | 27,935 |  |  | — |  |  | — |  |  | (6,449) |  |  | 21,486 |
Commercial and industrial loans |  |  |  |  |  |  |  |  |
Owner occupied CRE | 4,994 |  |  |  |  | — |  |  | 12 |  |  | 5,006 |
Commercial business | 17,043 |  |  | (1,739) |  |  | 146 |  |  | (3,177) |  |  | 12,273 |
Total | 22,037 |  |  | (1,739) |  |  | 146 |  |  | (3,165) |  |  | 17,279 |
Consumer loans |  |  |  |  |  |  |  |  |
Single family | 6,906 |  |  | (127) |  |  | 291 |  |  | (2,676) |  |  | 4,394 |
Home equity and other | 7,416 |  |  | (483) |  |  | 557 |  |  | (3,526) |  |  | 3,964 |
Total | 14,322 |  |  | (610) |  |  | 848 |  |  | (6,202) |  |  | 8,358 |
Total ACL | $ | 64,294 |  |  | $ | (2,349) |  |  | $ | 994 |  |  | $ | (15,816) |  |  | $ | 47,123 |
| Year Ended December 31, 2020
(in thousands) | Prior to adoption of ASC 326 |  | Impact of ASC 326 adoption |  | Charge-offs |  | Recoveries |  | Provision |  | Ending balance
CRE |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied CRE | $ | 7,245 |  |  | $ | (3,392) |  |  | $ | — |  |  | $ | — |  |  | $ | 4,992 |  |  | $ | 8,845 |
Multifamily | 7,015 |  |  | (2,977) |  |  | — |  |  | — |  |  | 2,034 |  |  | 6,072 |
Construction/land development |  |  |  |  |  |  |  |  |  |  |
Multifamily construction | 2,848 |  |  | 693 |  |  | — |  |  | — |  |  | 1,362 |  |  | 4,903 |
CRE construction | 624 |  |  | (115) |  |  | — |  |  | — |  |  | 1,161 |  |  | 1,670 |
Single family construction | 3,800 |  |  | 4,280 |  |  | — |  |  | 163 |  |  | (3,113) |  |  | 5,130 |
Single family construction to permanent | 1,003 |  |  | 200 |  |  | — |  |  | — |  |  | 112 |  |  | 1,315 |
Total | 22,535 |  |  | (1,311) |  |  | — |  |  | 163 |  |  | 6,548 |  |  | 27,935 |
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |
Owner occupied CRE | 3,639 |  |  | (2,459) |  |  | (896) |  |  | — |  |  | 4,710 |  |  | 4,994 |
Commercial business | 2,915 |  |  | 510 |  |  | (640) |  |  | 110 |  |  | 14,148 |  |  | 17,043 |
Total | 6,554 |  |  | (1,949) |  |  | (1,536) |  |  | 110 |  |  | 18,858 |  |  | 22,037 |
Consumer loans |  |  |  |  |  |  |  |  |  |  |
Single family | 6,450 |  |  | 468 |  |  | (17) |  |  | 187 |  |  | (182) |  |  | 6,906 |
Home equity and other | 6,233 |  |  | 4,635 |  |  | (456) |  |  | 385 |  |  | (3,381) |  |  | 7,416 |
Total | 12,683 |  |  | 5,103 |  |  | (473) |  |  | 572 |  |  | (3,563) |  |  | 14,322 |
Total ACL | $ | 41,772 |  |  | $ | 1,843 |  |  | $ | (2,009) |  |  | $ | 845 |  |  | $ | 21,843 |  |  | $ | 64,294 |
| Year Ended December 31, 2019
(in thousands) | Beginning balance |  | Charge-offs |  | Recoveries |  | Provision |  | Ending balance
CRE |  |  |  |  |  |  |  |  |
Non-owner occupied CRE | $ | 5,495 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,750 |  |  | $ | 7,245 |
Multifamily | 5,754 |  |  | — |  |  | — |  |  | 1,261 |  |  | 7,015 |
Construction/land development | 9,001 |  |  |  |  | 215 |  |  | (941) |  |  | 8,275 |
Total | 20,250 |  |  | — |  |  | 215 |  |  | 2,070 |  |  | 22,535 |
Commercial and industrial loans |  |  |  |  |  |  |  |  |
Owner occupied CRE | 3,278 |  |  |  |  | — |  |  | 361 |  |  | 3,639 |
Commercial business | 2,875 |  |  | (315) |  |  | 147 |  |  | 208 |  |  | 2,915 |
Total | 6,153 |  |  | (315) |  |  | 147 |  |  | 569 |  |  | 6,554 |
Consumer loans |  |  |  |  |  |  |  |  |
Single family | 8,217 |  |  | — |  |  | 145 |  |  | (1,912) |  |  | 6,450 |
Home equity and other | 6,850 |  |  | (272) |  |  | 504 |  |  | (849) |  |  | 6,233 |
Total | 15,067 |  |  | (272) |  |  | 649 |  |  | (2,761) |  |  | 12,683 |
Total ACL | $ | 41,470 |  |  | $ | (587) |  |  | $ | 1,011 |  |  | $ | (122) |  |  | $ | 41,772 |
Credit Quality Indicators Management regularly reviews loans in the portfolio to assess credit quality indicators and to determine appropriate loan classification and grading in accordance with applicable bank regulations. The Company's risk rating methodology assigns risk ratings ranging from 1 to 10, where a higher rating represents higher risk. The risk rating of 9 is not used. Per the Company's policies, most commercial loans pools are non-homogenous and are regularly assessed for credit quality. The rating categories can be generally described by the following groupings for non-homogeneous loans: •1-6: These loans meet the definition of "Pass" assets. They are well protected by the current net worth and paying capacity of the obligor (or guarantors, if any) or by the fair value, less costs to acquire and sell in a timely manner, of any underlying collateral. •7: These loans meet the regulatory definition of "Special Mention." They contain potential weaknesses, that if uncorrected may result in deterioration of the likelihood of repayment or in the Bank’s credit position. •8: These loans meet the regulatory definition of "Substandard." They are inadequately protected by the current sound worth and paying capacity of the borrower or of the collateral pledged, if any. They have well-defined weaknesses and have unsatisfactory characteristics causing unacceptable levels of risk. •10: A loan, or the portion of a loan determined to meet the regulatory definition of “Loss.” The amounts classified as loss have been charged-off. The risk rating categories can be generally described by the following groupings for homogeneous loans: •1-6: These loans meet the definition of "Pass" assets. A homogenous "Pass" loan is typically risk rated based on payment performance. •7: These loans meet the regulatory definition of “Special Mention.” A homogeneous special mention loan, risk rated 7, is less than 90 days past due from the required payment date at month-end. •8: These loans meet the regulatory definition of “Substandard.” A homogeneous substandard loan, risk rated 8, is 90 days or more past due from the required payment date at month-end. •10: These loans meet the regulatory definition of "Loss." A closed-end homogeneous loan not secured by real estate is risk rated 10 when past due 120 cumulative days or more from the contractual due date. Closed-end homogenous loans secured by real estate and all open-end homogenous loans are risk rated 10 when past due 180 cumulative days or more from the contractual due date. These loans, or the portion of these loans classified as loss, are generally charged-off in the month in which the applicable past due period elapses. Small balance commercial loans are generally considered homogenous unless 30 days or more past due or modified in a troubled debt restructuring that was an interest rate concession or payment modification with a significant balloon and the concession period has not been completed. The risk rating classification for such loans are based on the non-homogenous definitions noted above. Residential, home equity and other loans modified in a troubled debt restructuring are considered homogeneous unless the modification was an interest rate concession or payment modification with a significant balloon and the concession modification period has not been completed. The risk rating classification for such loans are based on the non-homogeneous definitions noted above. The following table presents a vintage analysis of the commercial portfolio segment by loan sub-class, risk rating and delinquency status.
|  | At December 31, 2021
(in thousands) |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 and prior |  | Revolving |  | Revolving-term |  | Total
COMMERCIAL PORTFOLIO |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied CRE |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-6 Pass |  | $ | 68,647 |  |  | $ | 50,571 |  |  | $ | 169,711 |  |  | $ | 130,877 |  |  | $ | 100,674 |  |  | $ | 183,024 |  |  | $ | 963 |  |  | $ | 892 |  |  | $ | 705,359 |
7- Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
8 - Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 68,647 |  |  | 50,571 |  |  | 169,711 |  |  | 130,877 |  |  | 100,674 |  |  | 183,024 |  |  | 963 |  |  | 892 |  |  | 705,359 |
Multifamily |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-6 Pass |  | 1,315,204 |  |  | 561,666 |  |  | 286,826 |  |  | 60,372 |  |  | 26,065 |  |  | 165,225 |  |  | 1 |  |  | — |  |  | 2,415,359 |
7- Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
8 - Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 1,315,204 |  |  | 561,666 |  |  | 286,826 |  |  | 60,372 |  |  | 26,065 |  |  | 165,225 |  |  | 1 |  |  | — |  |  | 2,415,359 |
Multifamily construction |  |  |  |  |  |  |  |  |  |  |  |
1-6 Pass |  | 7,825 |  |  | 22,863 |  |  | 7,173 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 37,861 |
7- Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
8 - Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 7,825 |  |  | 22,863 |  |  | 7,173 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 37,861 |
CRE construction |  |  |  |  |  |  |  |  |  |  |  |
1-6 Pass |  | 7,694 |  |  | 3,960 |  |  | — |  |  | 1,962 |  |  | — |  |  | 556 |  |  | — |  |  | — |  |  | 14,172 |
7- Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
8 - Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 7,694 |  |  | 3,960 |  |  | — |  |  | 1,962 |  |  | — |  |  | 556 |  |  | — |  |  | — |  |  | 14,172 |
Single family construction |  |  |  |  |  |  |  |  |  |  |  |
1-6 Pass |  | 146,595 |  |  | 35,640 |  |  | 14,509 |  |  | — |  |  | — |  |  | 77 |  |  | 99,206 |  |  | — |  |  | 296,027 |
7- Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
8 - Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 146,595 |  |  | 35,640 |  |  | 14,509 |  |  | — |  |  | — |  |  | 77 |  |  | 99,206 |  |  | — |  |  | 296,027 |
Single family construction to permanent |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 90,311 |  |  | 42,636 |  |  | 13,362 |  |  | 1,775 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 148,084 |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
60-89 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
90+ days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 90,311 |  |  | 42,636 |  |  | 13,362 |  |  | 1,775 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 148,084 |
Owner occupied CRE |  |  |  |  |  |  |  |  |  |  |  |
1-6 Pass |  | 70,902 |  |  | 47,536 |  |  | 57,423 |  |  | 47,716 |  |  | 67,042 |  |  | 106,659 |  |  | 798 |  |  | 2,839 |  |  | 400,915 |
7- Special Mention |  | — |  |  | — |  |  | — |  |  | 2,196 |  |  | 6,019 |  |  | 145 |  |  | — |  |  | 60 |  |  | 8,420 |
8 - Substandard |  | — |  |  | — |  |  | 18,665 |  |  | 1,111 |  |  | 10,151 |  |  | 18,444 |  |  | — |  |  | — |  |  | 48,371 |
Total |  | 70,902 |  |  | 47,536 |  |  | 76,088 |  |  | 51,023 |  |  | 83,212 |  |  | 125,248 |  |  | 798 |  |  | 2,899 |  |  | 457,706 |
Commercial business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-6 Pass |  | 88,139 |  |  | 51,453 |  |  | 44,882 |  |  | 24,711 |  |  | 11,859 |  |  | 21,258 |  |  | 112,759 |  |  | 2,104 |  |  | 357,165 |
7- Special Mention |  | — |  |  | — |  |  | 7,396 |  |  | — |  |  | 4,396 |  |  | — |  |  | 5,613 |  |  | 134 |  |  | 17,539 |
8 - Substandard |  | 9,716 |  |  | 3,399 |  |  | 1,667 |  |  | 5,928 |  |  | 1,096 |  |  | 1,328 |  |  | 3,932 |  |  | 102 |  |  | 27,168 |
Total |  | 97,855 |  |  | 54,852 |  |  | 53,945 |  |  | 30,639 |  |  | 17,351 |  |  | 22,586 |  |  | 122,304 |  |  | 2,340 |  |  | 401,872 |
Total commercial portfolio |  | $ | 1,805,033 |  |  | $ | 819,724 |  |  | $ | 621,614 |  |  | $ | 276,648 |  |  | $ | 227,302 |  |  | $ | 496,716 |  |  | $ | 223,272 |  |  | $ | 6,131 |  |  | $ | 4,476,440 |
The following table presents a vintage analysis of the consumer portfolio segment by loan sub-class and delinquency status:
|  | At December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |
(in thousands) |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 and prior |  | Revolving |  | Revolving-term |  | Total |  |  |  |  |  |  |  |  |  |  |  |  |  |
CONSUMER PORTFOLIO |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 176,110 |  |  | $ | 156,360 |  |  | $ | 62,369 |  |  | $ | 66,063 |  |  | $ | 95,988 |  |  | $ | 204,229 |  |  | $ | — |  |  | $ | — |  |  | $ | 761,119 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | — |  |  | — |  |  | 291 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 291 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
60-89 days |  | — |  |  | — |  |  | — |  |  | — |  |  | 314 |  |  | 471 |  |  | — |  |  | — |  |  | 785 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
90+ days |  | — |  |  | — |  |  | 561 |  |  | 452 |  |  | — |  |  | 123 |  |  | — |  |  | — |  |  | 1,136 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total (1) |  | 176,110 |  |  | 156,360 |  |  | 63,221 |  |  | 66,515 |  |  | 96,302 |  |  | 204,823 |  |  | — |  |  | — |  |  | 763,331 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 2,005 |  |  | 474 |  |  | 393 |  |  | 532 |  |  | 516 |  |  | 2,609 |  |  | 290,512 |  |  | 5,273 |  |  | 302,314 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | — |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | 94 |  |  | 40 |  |  | — |  |  | 137 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
60-89 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12 |  |  | 62 |  |  | 74 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
90+ days |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | 544 |  |  | — |  |  | 553 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total |  | 2,008 |  |  | 477 |  |  | 393 |  |  | 532 |  |  | 516 |  |  | 2,709 |  |  | 291,108 |  |  | 5,335 |  |  | 303,078 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total consumer portfolio |  | $ | 178,118 |  |  | $ | 156,837 |  |  | $ | 63,614 |  |  | $ | 67,047 |  |  | $ | 96,818 |  |  | $ | 207,532 |  |  | $ | 291,108 |  |  | $ | 5,335 |  |  | $ | 1,066,409 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total LHFI |  | $ | 1,983,151 |  |  | $ | 976,561 |  |  | $ | 685,228 |  |  | $ | 343,695 |  |  | $ | 324,120 |  |  | $ | 704,248 |  |  | $ | 514,380 |  |  | $ | 11,466 |  |  | $ | 5,542,849 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) Includes $7.3 million of loans where a fair value option election was made at the time of origination and, therefore, are carried at fair value with changes recognized in the consolidated income statements. The following table presents a vintage analysis of the commercial portfolio segment by loan sub-class, risk rating and delinquency status:
|  | At December 31, 2020
(in thousands) |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | 2015 and prior |  | Revolving |  | Revolving-term |  | Total
COMMERCIAL PORTFOLIO |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied CRE |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-6 Pass |  | $ | 53,782 |  |  | $ | 176,556 |  |  | $ | 165,268 |  |  | $ | 147,719 |  |  | $ | 150,221 |  |  | $ | 131,935 |  |  | $ | 796 |  |  | $ | 1,031 |  |  | $ | 827,308 |
7- Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,230 |  |  | — |  |  | — |  |  | 2,230 |
8 - Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 53,782 |  |  | 176,556 |  |  | 165,268 |  |  | 147,719 |  |  | 150,221 |  |  | 134,165 |  |  | 796 |  |  | 1,031 |  |  | 829,538 |
Multifamily |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-6 Pass |  | 711,009 |  |  | 324,246 |  |  | 100,572 |  |  | 32,693 |  |  | 166,937 |  |  | 92,255 |  |  | 380 |  |  | — |  |  | 1,428,092 |
7- Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
8 - Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 711,009 |  |  | 324,246 |  |  | 100,572 |  |  | 32,693 |  |  | 166,937 |  |  | 92,255 |  |  | 380 |  |  | — |  |  | 1,428,092 |
Multifamily construction |  |  |  |  |  |  |  |  |  |  |  |
1-6 Pass |  | 12,182 |  |  | 21,366 |  |  | 45,256 |  |  | 11,823 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 90,627 |
7- Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | 24,702 |  |  | — |  |  | — |  |  | — |  |  | 24,702 |
8 - Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 12,182 |  |  | 21,366 |  |  | 45,256 |  |  | 11,823 |  |  | 24,702 |  |  | — |  |  | — |  |  | — |  |  | 115,329 |
CRE construction |  |  |  |  |  |  |  |  |  |  |  |
1-6 Pass |  | 3,963 |  |  | — |  |  | 2,104 |  |  | 14,721 |  |  | — |  |  | 614 |  |  | 5,883 |  |  | — |  |  | 27,285 |
7- Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
8 - Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 3,963 |  |  | — |  |  | 2,104 |  |  | 14,721 |  |  | — |  |  | 614 |  |  | 5,883 |  |  | — |  |  | 27,285 |
Single family construction |  |  |  |  |  |  |  |  |  |  |  |
1-6 Pass |  | 121,233 |  |  | 47,539 |  |  | 14,055 |  |  | — |  |  | — |  |  | 600 |  |  | 75,743 |  |  | — |  |  | 259,170 |
7- Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
8 - Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 121,233 |  |  | 47,539 |  |  | 14,055 |  |  | — |  |  | — |  |  | 600 |  |  | 75,743 |  |  | — |  |  | 259,170 |
Single family construction to permanent |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 62,955 |  |  | 72,825 |  |  | 15,443 |  |  | 688 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 151,911 |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
60-89 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
90+ days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 62,955 |  |  | 72,825 |  |  | 15,443 |  |  | 688 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 151,911 |
Owner occupied CRE |  |  |  |  |  |  |  |  |  |  |  |
1-6 Pass |  | 48,647 |  |  | 60,872 |  |  | 58,582 |  |  | 85,275 |  |  | 98,046 |  |  | 50,596 |  |  | — |  |  | 4,354 |  |  | 406,372 |
7- Special Mention |  | — |  |  | — |  |  | 5,977 |  |  | 3,529 |  |  | — |  |  | — |  |  | — |  |  | 69 |  |  | 9,575 |
8 - Substandard |  | — |  |  | 19,407 |  |  | 1,111 |  |  | 10,750 |  |  | 17,122 |  |  | 2,919 |  |  | — |  |  | — |  |  | 51,309 |
Total |  | 48,647 |  |  | 80,279 |  |  | 65,670 |  |  | 99,554 |  |  | 115,168 |  |  | 53,515 |  |  | — |  |  | 4,423 |  |  | 467,256 |
Commercial business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-6 Pass |  | 345,540 |  |  | 63,020 |  |  | 47,710 |  |  | 22,556 |  |  | 18,411 |  |  | 14,972 |  |  | 76,218 |  |  | 2,577 |  |  | 591,004 |
7- Special Mention |  | — |  |  | 10,837 |  |  | 2,058 |  |  | 6,653 |  |  | — |  |  | — |  |  | 3,975 |  |  | 166 |  |  | 23,689 |
8 - Substandard |  | — |  |  | 5,923 |  |  | 11,327 |  |  | 2,338 |  |  | 1,891 |  |  | 1,001 |  |  | 8,438 |  |  | 112 |  |  | 31,030 |
Total |  | 345,540 |  |  | 79,780 |  |  | 61,095 |  |  | 31,547 |  |  | 20,302 |  |  | 15,973 |  |  | 88,631 |  |  | 2,855 |  |  | 645,723 |
Total commercial portfolio |  | $ | 1,359,311 |  |  | $ | 802,591 |  |  | $ | 469,463 |  |  | $ | 338,745 |  |  | $ | 477,330 |  |  | $ | 297,122 |  |  | $ | 171,433 |  |  | $ | 8,309 |  |  | $ | 3,924,304 |
The following table presents a vintage analysis of the consumer portfolio segment by loan sub-class and delinquency status:
|  | At December 31, 2020
(in thousands) |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | 2015 and prior |  | Revolving |  | Revolving-term |  | Total
CONSUMER PORTFOLIO |  |  |  |  |  |  |  |  |  |  |  |
Single family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 174,994 |  |  | $ | 111,143 |  |  | $ | 154,757 |  |  | $ | 168,412 |  |  | $ | 59,161 |  |  | $ | 242,444 |  |  | $ | — |  |  | $ | — |  |  | $ | 910,911 |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | — |  |  | 570 |  |  | — |  |  | 318 |  |  | — |  |  | 390 |  |  | — |  |  | — |  |  | 1,278 |
60-89 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
90+ days |  | 824 |  |  | 335 |  |  | 405 |  |  | 386 |  |  | — |  |  | 984 |  |  | — |  |  | — |  |  | 2,934 |
Total (1) |  | 175,818 |  |  | 112,048 |  |  | 155,162 |  |  | 169,116 |  |  | 59,161 |  |  | 243,818 |  |  | — |  |  | — |  |  | 915,123 |
Home equity and other |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 1,878 |  |  | 1,230 |  |  | 1,311 |  |  | 1,363 |  |  | 431 |  |  | 5,126 |  |  | 384,005 |  |  | 8,147 |  |  | 403,491 |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | 98 |  |  | 22 |  |  | — |  |  | — |  |  | — |  |  | 11 |  |  | 66 |  |  | 31 |  |  | 228 |
60-89 days |  | — |  |  | 13 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 129 |  |  | — |  |  | 142 |
90+ days |  | — |  |  | 9 |  |  | — |  |  | — |  |  | 275 |  |  | 24 |  |  | 584 |  |  | — |  |  | 892 |
Total |  | 1,976 |  |  | 1,274 |  |  | 1,311 |  |  | 1,363 |  |  | 706 |  |  | 5,161 |  |  | 384,784 |  |  | 8,178 |  |  | 404,753 |
Total consumer portfolio |  | $ | 177,794 |  |  | $ | 113,322 |  |  | $ | 156,473 |  |  | $ | 170,479 |  |  | $ | 59,867 |  |  | $ | 248,979 |  |  | $ | 384,784 |  |  | $ | 8,178 |  |  | $ | 1,319,876 |
Total LHFI |  | $ | 1,537,105 |  |  | $ | 915,913 |  |  | $ | 625,936 |  |  | $ | 509,224 |  |  | $ | 537,197 |  |  | $ | 546,101 |  |  | $ | 556,217 |  |  | $ | 16,487 |  |  | $ | 5,244,180 |
(1) Includes $7.1 million of loans where a fair value option election was made at the time of origination and, therefore, are carried at fair value with changes recognized in the consolidated income statements. Collateral Dependent Loans The following table presents the amortized cost basis of collateral-dependent loans by loan sub-class and collateral type:
|  | At December 31, 2021
(in thousands) |  | Land |  | 1-4 Family |  |  |  | Non-residential real estate |  | Other non-real estate |  | Total
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied CRE |  | $ | 1,111 |  |  | $ | — |  |  |  |  | $ | 2,456 |  |  | $ | — |  |  | $ | 3,567 |
Commercial business |  | 362 |  |  | 27 |  |  |  |  | 562 |  |  | 286 |  |  | 1,237 |
Total |  | 1,473 |  |  | 27 |  |  |  |  | 3,018 |  |  | 286 |  |  | 4,804 |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |
Single family |  | — |  |  | 1,598 |  |  |  |  | — |  |  | — |  |  | 1,598 |
Home equity loans and other |  | — |  |  | 19 |  |  |  |  | — |  |  | — |  |  | 19 |
Total |  | — |  |  | 1,617 |  |  |  |  | — |  |  | — |  |  | 1,617 |
Total collateral-dependent loans |  | $ | 1,473 |  |  | $ | 1,644 |  |  |  |  | $ | 3,018 |  |  | $ | 286 |  |  | $ | 6,421 |
|  | At December 31, 2020
(in thousands) |  | Land |  | 1-4 Family |  |  |  | Non-residential real estate |  | Other non-real estate |  | Total
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied CRE |  | $ | 1,789 |  |  | $ | — |  |  |  |  | $ | 3,133 |  |  | $ | — |  |  | $ | 4,922 |
Commercial business |  | 1,787 |  |  | 545 |  |  |  |  | — |  |  | 2,882 |  |  | 5,214 |
Total |  | 3,576 |  |  | 545 |  |  |  |  | 3,133 |  |  | 2,882 |  |  | 10,136 |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |
Single family |  | — |  |  | 2,457 |  |  |  |  | — |  |  | — |  |  | 2,457 |
Total |  | — |  |  | 2,457 |  |  |  |  | — |  |  | — |  |  | 2,457 |
Total collateral-dependent loans |  | $ | 3,576 |  |  | $ | 3,002 |  |  |  |  | $ | 3,133 |  |  | $ | 2,882 |  |  | $ | 12,593 |
Nonaccrual and Past Due Loans The following table presents nonaccrual status for loans:
|  |  | At December 31, 2021 |  |  | At December 31, 2020
(in thousands) |  |  | Nonaccrual with no related ACL |  | Total Nonaccrual |  |  | Nonaccrual with no related ACL |  | Total Nonaccrual
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |
Owner occupied CRE |  |  | $ | 3,568 |  |  | $ | 3,568 |  |  |  | $ | 4,922 |  |  | $ | 4,922 |
Commercial business |  |  | 1,210 |  |  | 5,023 |  |  |  | 3,100 |  |  | 9,183 |
Total |  |  | 4,778 |  |  | 8,591 |  |  |  | 8,022 |  |  | 14,105 |
Consumer loans |  |  |  |  |  |  |  |  |  |
Single family |  |  | 1,324 |  |  | 2,802 |  |  |  | 2,173 |  |  | 4,883 |
Home equity and other |  |  | 23 |  |  | 808 |  |  |  | 2 |  |  | 1,734 |
Total |  |  | 1,347 |  |  | 3,610 |  |  |  | 2,175 |  |  | 6,617 |
Total nonaccrual loans |  |  | $ | 6,125 |  |  | $ | 12,201 |  |  |  | $ | 10,197 |  |  | $ | 20,722 |
The following tables present an aging analysis of past due loans by loan portfolio segment and loan sub-class:
| At December 31, 2021 |
| Past Due and Still Accruing |  |  |  |  |  |  |  |  |
(in thousands) | 30-59 days |  | 60-89 days |  | 90 days or more |  | Nonaccrual |  | Total past due and nonaccrual (3) |  | Current |  | Total loans |
CRE |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied CRE | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 705,359 |  |  | $ | 705,359 |  |
Multifamily | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,415,359 |  |  | 2,415,359 |  |
Construction/land development |  |  |  |  |  |  |  |  |  |  |  |  |
Multifamily construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 37,861 |  |  | 37,861 |  |
CRE construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 14,172 |  |  | 14,172 |  |
Single family construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 296,027 |  |  | 296,027 |  |
Single family construction to permanent | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 148,084 |  |  | 148,084 |  |
Total | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,616,862 |  |  | 3,616,862 |  |
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied CRE | — |  |  | — |  |  | — |  |  | 3,568 |  |  | 3,568 |  |  | 454,138 |  |  | 457,706 |  |
Commercial business | 198 |  |  | — |  |  | — |  |  | 5,023 |  |  | 5,221 |  |  | 396,651 |  |  | 401,872 |  |
Total | 198 |  |  | — |  |  | — |  |  | 8,591 |  |  | 8,789 |  |  | 850,789 |  |  | 859,578 |  |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family | 892 |  |  | 820 |  |  | 6,717 |  | (2) | 2,802 |  |  | 11,231 |  |  | 752,100 |  |  | 763,331 |  | (1) |
Home equity and other | 118 |  |  | 74 |  |  | — |  |  | 808 |  |  | 1,000 |  |  | 302,078 |  |  | 303,078 |  |
Total | 1,010 |  |  | 894 |  |  | 6,717 |  |  | 3,610 |  |  | 12,231 |  |  | 1,054,178 |  |  | 1,066,409 |  |
Total loans | $ | 1,208 |  |  | $ | 894 |  |  | $ | 6,717 |  |  | $ | 12,201 |  |  | $ | 21,020 |  |  | $ | 5,521,829 |  |  | $ | 5,542,849 |  |
% | 0.02 | % |  | 0.02 | % |  | 0.12 | % |  | 0.22 | % |  | 0.38 | % |  | 99.62 | % |  | 100.00 | % |
| At December 31, 2020 |
| Past Due and Still Accruing |  |  |  |  |  |  |  |  |
(in thousands) | 30-59 days |  | 60-89 days |  | 90 days or more |  | Nonaccrual |  | Total past due and nonaccrual (3) |  | Current |  | Total loans |
CRE |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied CRE | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 829,538 |  |  | $ | 829,538 |  |
Multifamily | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,428,092 |  |  | 1,428,092 |  |
Construction and land development |  |  |  |  |  |  |  |  |  |  |  |  |
Multifamily construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 115,329 |  |  | 115,329 |  |
CRE construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 27,285 |  |  | 27,285 |  |
Single family construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 259,170 |  |  | 259,170 |  |
Single family construction to permanent | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 151,911 |  |  | 151,911 |  |
Total | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,811,325 |  |  | 2,811,325 |  |
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied CRE | — |  |  | — |  |  | — |  |  | 4,922 |  |  | 4,922 |  |  | 462,334 |  |  | 467,256 |  |
Commercial business | — |  |  |  |  | — |  |  | 9,183 |  |  | 9,183 |  |  | 636,540 |  |  | 645,723 |  |
Total | — |  |  | — |  |  | — |  |  | 14,105 |  |  | 14,105 |  |  | 1,098,874 |  |  | 1,112,979 |  |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family | 2,161 |  |  | 418 |  |  | 11,476 |  | (2) |  | 4,883 |  |  | 18,938 |  |  | 896,185 |  |  | 915,123 |  | (1) |
Home equity and other | 228 |  |  | 135 |  |  | — |  |  | 1,734 |  |  | 2,097 |  |  | 402,656 |  |  | 404,753 |  |
Total | 2,389 |  |  | 553 |  |  | 11,476 |  |  | 6,617 |  |  | 21,035 |  |  | 1,298,841 |  |  | 1,319,876 |  |
Total loans | $ | 2,389 |  |  | $ | 553 |  |  | $ | 11,476 |  |  | $ | 20,722 |  |  | $ | 35,140 |  |  | $ | 5,209,040 |  |  | $ | 5,244,180 |  |
% | 0.05 | % |  | 0.01 | % |  | 0.22 | % |  | 0.40 | % |  | 0.67 | % |  | 99.33 | % |  | 100.00 | % |
(1)Includes $7.3 million and $7.1 million of loans at December 31, 2021 and 2020, respectively, where a fair value option election was made at the time of origination and, therefore, are carried at fair value with changes recognized in our consolidated income statements. (2)FHA-insured and VA-guaranteed single family loans that are 90 days or more past due are maintained on accrual status if they are determined to have little to no risk of loss. (3)Includes loans whose repayments are insured by the FHA or guaranteed by the VA or SBA of $8.4 million and $14.7 million at December 31, 2021 and 2020, respectively. The following tables present information about troubled debt restructuring ("TDR") activity for the periods indicated:
|  |  |  |  | Year Ended December 31, 2021 |
(dollars in thousands) |  |  |  |  |  |  |  |  | Number of loan modifications |  | Recorded investment |  | Related charge- offs |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate reduction |  |  |  |  |  |  |  |  | 20 |  |  | $ | 5,482 |  |  | $ | — |  |
Payment restructure |  |  |  |  |  |  |  |  | 7 |  |  | 2,815 |  |  | — |  |
Total |  |  |  |  |  |  |  |  | 27 |  |  | 8,297 |  |  | — |  |
Total loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate reduction |  |  |  |  |  |  |  |  | 20 |  |  | 5,482 |  |  | — |  |
Payment restructure |  |  |  |  |  |  |  |  | 7 |  |  | 2,815 |  |  | — |  |
Total |  |  |  |  |  |  |  |  | 27 |  | $ | 8,297 |  |  | $ | — |  |
|  |  |  |  | Year Ended December 31, 2020
(dollars in thousands) |  |  |  |  |  |  |  |  | Number of loan modifications |  | Recorded investment |  | Related charge- offs
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied CRE |  |  |  |  |  |  |  |  |  |
Payment restructure |  |  |  |  |  |  |  |  | 1 |  |  | $ | 678 |  |  | $ | — |
Commercial business |  |  |  |  |  |  |  |  |  |  |  |  |
Payment restructure |  |  |  |  |  |  |  |  | 1 |  |  | 1,125 |  |  | — |
Total commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |
Payment restructure |  |  |  |  |  |  |  |  | 2 |  |  | 1,803 |  |  | — |
Total |  |  |  |  |  |  |  |  | 2 |  |  | 1,803 |  |  | — |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate reduction |  |  |  |  |  |  |  |  | 27 |  |  | 5,979 |  |  | — |
Payment restructure |  |  |  |  |  |  |  |  | 14 |  |  | 2,695 |  |  | — |
Total |  |  |  |  |  |  |  |  | 41 |  |  | 8,674 |  |  | — |
Total loans |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate reduction |  |  |  |  |  |  |  |  | 27 |  |  | 5,979 |  |  | — |
Payment restructure |  |  |  |  |  |  |  |  | 16 |  |  | 4,498 |  |  | — |
Total |  |  |  |  |  |  |  |  | 43 |  |  | $ | 10,477 |  |  | $ | — |
|  |  |  |  | Year Ended December 31, 2019
(dollars in thousands) |  |  |  |  |  |  |  |  | Number of loan modifications |  | Recorded investment |  | Related charge- offs
CRE |  |  |  |  |  |  |  |  |  |  |  |  |
Construction and land development |  |  |  |  |  |  |  |  |  |  |  |  |
Payment restructure |  |  |  |  |  |  |  |  | 1 |  |  | $ | 4,675 |  |  | $ | — |
Total |  |  |  |  |  |  |  |  | 1 |  |  | 4,675 |  |  | — |
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied CRE |  |  |  |  |  |  |  |  |  |
Payment restructure |  |  |  |  |  |  |  |  | 1 |  |  | 5,840 |  |  | — |
Commercial business |  |  |  |  |  |  |  |  |  |  |  |  |
Payment restructure |  |  |  |  |  |  |  |  | 1 |  |  | 259 |  |  | — |
Total commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |
Payment restructure |  |  |  |  |  |  |  |  | 2 |  |  | 6,099 |  |  | — |
Total |  |  |  |  |  |  |  |  | 2 |  |  | 6,099 |  |  | — |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate reduction |  |  |  |  |  |  |  |  | 21 |  |  | 3,925 |  |  | — |
Payment restructure |  |  |  |  |  |  |  |  | 118 |  |  | 25,795 |  |  | — |
Home equity and other |  |  |  |  |  |  |  |  |  |  |  |  |
Payment restructure |  |  |  |  |  |  |  |  | 1 |  |  | 116 |  |  | — |
Total consumer |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate reduction |  |  |  |  |  |  |  |  | 21 |  |  | 3,925 |  |  | — |
Payment restructure |  |  |  |  |  |  |  |  | 119 |  |  | 25,911 |  |  | — |
Total |  |  |  |  |  |  |  |  | 140 |  |  | 29,836 |  |  | — |
Total loans |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate reduction |  |  |  |  |  |  |  |  | 21 |  |  | 3,925 |  |  | — |
Payment restructure |  |  |  |  |  |  |  |  | 122 |  |  | 36,685 |  |  | — |
Total |  |  |  |  |  |  |  |  | 143 |  |  | $ | 40,610 |  |  | $ | — |
A TDR loan is considered re-defaulted when it becomes doubtful that the objectives of the modifications will be met, generally when a consumer loan TDR becomes 60 days or more past due on principal or interest payments or when a commercial loan TDR becomes 90 days or more past due on principal or interest payments. The following table presents loans that were modified as TDRs within the previous 12 months and subsequently re-defaulted during 2021 and 2020, respectively:
| Years Ended December 31,
| 2021 |  | 2020 |  |
(dollars in thousands) | Number of loan relationships that re-defaulted |  | Recorded investment |  | Number of loan relationships that re-defaulted |  | Recorded investment |  |  |  |
Commercial and industrial loans-owner occupied CRE | 1 |  |  | $ | 678 |  |  | — |  |  | $ | — |  |  |  |  |
Consumer loans-single family | 11 |  |  | 3,040 |  |  | 20 |  |  | 3,809 |  |  |  |  |
Total | 12 |  |  | $ | 3,718 |  |  | 20 |  |  | $ | 3,809 |  |  |  |  |
The Coronavirus Aid, Relief and Economic Security ("CARES") Act provided temporary relief from the accounting and disclosure requirements for TDRs for certain loan modifications that are the result of a hardship that is related, either directly or indirectly, to the COVID-19 pandemic. In addition, interagency guidance issued by federal banking regulators and endorsed by the FASB staff has indicated that borrowers who receive relief are not experiencing financial difficulty if they meet the following qualifying criteria: •The modification is in response to the National Emergency related to the COVID pandemic; •The borrower was current at the time the modification program was implemented; and •The modification is short-term We have elected to apply temporary relief under Section 4013 of the CARES Act to certain eligible short-term modifications and will not treat qualifying loan modifications as TDRs for accounting or disclosure purposes. Additionally, eligible short-term loan modifications subject to the practical expedient in the interagency guidance will not be treated as TDRs for accounting or disclosure purposes if they qualify. As of December 31, 2021, excluding any SBA guaranteed loans for which the government was making payments as provided for under the CARES Act, or single family loans that are guaranteed by FHA or VA, the Company has outstanding balances of $28 million on 41 loans that were approved for forbearance under this program. The Bank will exercise judgment in determining the risk rating for impacted borrowers and will not automatically adversely classify credits that are affected by COVID-19. The Bank also will not designate loans with deferrals granted due to COVID-19 as past due because of the deferral. Due to the short-term nature of the forbearance and other relief programs we are offering as a result of the COVID-19 pandemic, we expect that borrowers granted relief under these programs will generally not be reported as nonaccrual.

X
- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2196816 + Details
Name: | us-gaap_FinancingReceivablesTextBlock
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