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LOANS AND CREDIT QUALITY - (Tables) | 3 Months Ended
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Mar. 31, 2022
Receivables [Abstract] |
Loans Held for Investment | LHFI consists of the following:
(in thousands) | At March 31, 2022 |  | At December 31, 2021
CRE |  |  |
Non-owner occupied CRE | $ | 699,277 |  |  | $ | 705,359 |
Multifamily | 2,729,775 |  |  | 2,415,359 |
Construction/land development | 528,134 |  |  | 496,144 |
Total | 3,957,186 |  |  | 3,616,862 |
Commercial and industrial loans |  |  |
Owner occupied CRE | 464,356 |  |  | 457,706 |
Commercial business | 387,938 |  |  | 401,872 |
Total | 852,294 |  |  | 859,578 |
Consumer loans |  |  |
Single family (1) | 759,286 |  |  | 763,331 |
Home equity and other | 295,724 |  |  | 303,078 |
Total | 1,055,010 |  |  | 1,066,409 |
Total LHFI | 5,864,490 |  |  | 5,542,849 |
Allowance for credit losses ("ACL") | (37,944) |  |  | (47,123) |
Total LHFI less ACL | $ | 5,826,546 |  |  | $ | 5,495,726 |
(1) Includes $7.0 million and $7.3 million at March 31, 2022 and December 31, 2021, 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 in fair value recognized in the consolidated income statements.
Activity in Allowance for Credit Losses | Activity in the ACL for LHFI and the allowance for unfunded commitments was as follows:
| Quarter Ended March 31, |  |
(in thousands) | 2022 |  | 2021 |  |  |  |
Beginning balance | $ | 47,123 |  |  | $ | 64,294 |  |  |  |  |
Provision for credit losses | (9,223) |  |  | (371) |  |  |  |
Net (charge-offs) recoveries | 44 |  |  | 124 |  |  |  |
Ending balance | $ | 37,944 |  |  | $ | 64,047 |  |  |  |  |
Allowance for unfunded commitments: |  |  |  |  |  |  |
Beginning balance | $ | 2,404 |  |  | $ | 1,588 |  |  |  |  |
Provision for credit losses | 223 |  |  | 371 |  |  |  |  |
Ending balance | $ | 2,627 |  |  | $ | 1,959 |  |  |  |  |
Provision for credit losses: |  |  |  |  |  |  |
Allowance for credit losses - loans | $ | (9,223) |  |  | $ | (371) |  |  |  |  |
Allowance for unfunded commitments | 223 |  |  | 371 |  |  |  |  |
Total | $ | (9,000) |  |  | $ | — |  |  |  |  |
Activity in the ACL for LHFI by loan portfolio and loan sub-class was as follows:
| Quarter Ended March 31, 2022
(in thousands) | Beginning balance |  | Charge-offs |  | Recoveries |  | Provision |  | Ending balance
CRE |  |  |  |  |  |  |  |  |
Non-owner occupied CRE | $ | 7,509 |  |  | $ | — |  |  | $ | — |  |  | $ | (5,215) |  |  | $ | 2,294 |
Multifamily | 5,854 |  |  | — |  |  | — |  |  | 2,573 |  |  | 8,427 |
Construction/land development |  |  |  |  |  |  |  |  |
Multifamily construction | 507 |  |  | — |  |  | — |  |  | (51) |  |  | 456 |
CRE construction | 150 |  |  | — |  |  | — |  |  | 34 |  |  | 184 |
Single family construction | 6,411 |  |  | — |  |  | — |  |  | 1,324 |  |  | 7,735 |
Single family construction to permanent | 1,055 |  |  | — |  |  | — |  |  | (65) |  |  | 990 |
Total | 21,486 |  |  | — |  |  | — |  |  | (1,400) |  |  | 20,086 |
Commercial and industrial loans |  |  |  |  |  |  |  |  |
Owner occupied CRE | 5,006 |  |  | — |  |  | — |  |  | (1,470) |  |  | 3,536 |
Commercial business | 12,273 |  |  | (11) |  |  | 24 |  |  | (5,376) |  |  | 6,910 |
Total | 17,279 |  |  | (11) |  |  | 24 |  |  | (6,846) |  |  | 10,446 |
Consumer loans |  |  |  |  |  |  |  |  |
Single family | 4,394 |  |  | — |  |  | 4 |  |  | (636) |  |  | 3,762 |
Home equity and other | 3,964 |  |  | (33) |  |  | 60 |  |  | (341) |  |  | 3,650 |
Total | 8,358 |  |  | (33) |  |  | 64 |  |  | (977) |  |  | 7,412 |
Total ACL | $ | 47,123 |  |  | $ | (44) |  |  | $ | 88 |  |  | $ | (9,223) |  |  | $ | 37,944 |
| Quarter Ended March 31, 2021
(in thousands) | Beginning balance |  | Charge-offs |  | Recoveries |  | Provision |  | Ending balance
CRE |  |  |  |  |  |  |  |  |
Non-owner occupied CRE | $ | 8,845 |  |  | $ | — |  |  | $ | — |  |  | $ | 373 |  |  | $ | 9,218 |
Multifamily | 6,072 |  |  | — |  |  | — |  |  | 897 |  |  | 6,969 |
Construction/land development |  |  |  |  |  |  |  |  |
Multifamily construction | 4,903 |  |  | — |  |  | — |  |  | (967) |  |  | 3,936 |
CRE construction | 1,670 |  |  | — |  |  | — |  |  | 238 |  |  | 1,908 |
Single family construction | 5,130 |  |  | — |  |  | — |  |  | (123) |  |  | 5,007 |
Single family construction to permanent | 1,315 |  |  | — |  |  | — |  |  | (191) |  |  | 1,124 |
Total | 27,935 |  |  | — |  |  | — |  |  | 227 |  |  | 28,162 |
Commercial and industrial loans |  |  |  |  |  |  |  |  |
Owner occupied CRE | 4,994 |  |  | — |  |  | — |  |  | 272 |  |  | 5,266 |
Commercial business | 17,043 |  |  | — |  |  | 74 |  |  | (12) |  |  | 17,105 |
Total | 22,037 |  |  | — |  |  | 74 |  |  | 260 |  |  | 22,371 |
Consumer loans |  |  |  |  |  |  |  |  |
Single family | 6,906 |  |  | (70) |  |  | 120 |  |  | (221) |  |  | 6,735 |
Home equity and other | 7,416 |  |  | (56) |  |  | 56 |  |  | (637) |  |  | 6,779 |
Total | 14,322 |  |  | (126) |  |  | 176 |  |  | (858) |  |  | 13,514 |
Total ACL | $ | 64,294 |  |  | $ | (126) |  |  | $ | 250 |  |  | $ | (371) |  |  | $ | 64,047 |
Designated Loan Grades by Loan Portfolio Segment and Loan Class | The following table presents a vintage analysis of the commercial portfolio segment by loan sub-class and risk rating or delinquency status.
|  | At March 31, 2022
(in thousands) |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 and prior |  | Revolving |  | Revolving-term |  | Total
COMMERCIAL PORTFOLIO |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied CRE |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 23,614 |  |  | $ | 68,572 |  |  | $ | 50,276 |  |  | $ | 158,484 |  |  | $ | 121,836 |  |  | $ | 274,775 |  |  | $ | 853 |  |  | $ | 867 |  |  | $ | 699,277 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 23,614 |  |  | 68,572 |  |  | 50,276 |  |  | 158,484 |  |  | 121,836 |  |  | 274,775 |  |  | 853 |  |  | 867 |  |  | 699,277 |
Multifamily |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 364,731 |  |  | 1,311,572 |  |  | 551,187 |  |  | 233,790 |  |  | 60,103 |  |  | 179,862 |  |  | — |  |  | — |  |  | 2,701,245 |
Special Mention |  | — |  |  | — |  |  | 8,695 |  |  | 19,835 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 28,530 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 364,731 |  |  | 1,311,572 |  |  | 559,882 |  |  | 253,625 |  |  | 60,103 |  |  | 179,862 |  |  | — |  |  | — |  |  | 2,729,775 |
Multifamily construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | — |  |  | 12,163 |  |  | 24,664 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 36,827 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | — |  |  | 12,163 |  |  | 24,664 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 36,827 |
CRE construction |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | — |  |  | 11,668 |  |  | 3,959 |  |  | — |  |  | 1,924 |  |  | 548 |  |  | — |  |  | — |  |  | 18,099 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | — |  |  | 11,668 |  |  | 3,959 |  |  | — |  |  | 1,924 |  |  | 548 |  |  | — |  |  | — |  |  | 18,099 |
Single family construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 31,784 |  |  | 142,275 |  |  | 24,226 |  |  | 12,434 |  |  | — |  |  | 76 |  |  | 108,005 |  |  | — |  |  | 318,800 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 31,784 |  |  | 142,275 |  |  | 24,226 |  |  | 12,434 |  |  | — |  |  | 76 |  |  | 108,005 |  |  | — |  |  | 318,800 |
Single family construction to permanent |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 6,613 |  |  | 106,419 |  |  | 29,026 |  |  | 10,575 |  |  | 1,775 |  |  | — |  |  | — |  |  | — |  |  | 154,408 |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
60-89 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
90+ days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 6,613 |  |  | 106,419 |  |  | 29,026 |  |  | 10,575 |  |  | 1,775 |  |  | — |  |  | — |  |  | — |  |  | 154,408 |
Owner occupied CRE |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 20,055 |  |  | 70,792 |  |  | 47,176 |  |  | 57,012 |  |  | 46,661 |  |  | 164,101 |  |  | 248 |  |  | 1,689 |  |  | 407,734 |
Special Mention |  | — |  |  | — |  |  | — |  |  | 18,499 |  |  | 2,180 |  |  | 23,202 |  |  | — |  |  | — |  |  | 43,881 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,111 |  |  | 11,572 |  |  | — |  |  | 58 |  |  | 12,741 |
Total |  | 20,055 |  |  | 70,792 |  |  | 47,176 |  |  | 75,511 |  |  | 49,952 |  |  | 198,875 |  |  | 248 |  |  | 1,747 |  |  | 464,356 |
Commercial business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 32,359 |  |  | 58,371 |  |  | 48,943 |  |  | 36,976 |  |  | 23,289 |  |  | 27,808 |  |  | 113,186 |  |  | 2,131 |  |  | 343,063 |
Special Mention |  | — |  |  | 213 |  |  | 29 |  |  | 7,047 |  |  | 838 |  |  | 5,264 |  |  | 7,543 |  |  | 212 |  |  | 21,146 |
Substandard |  | — |  |  | 8,214 |  |  | 3,253 |  |  | 2,414 |  |  | 3,392 |  |  | 1,827 |  |  | 4,616 |  |  | 13 |  |  | 23,729 |
Total |  | 32,359 |  |  | 66,798 |  |  | 52,225 |  |  | 46,437 |  |  | 27,519 |  |  | 34,899 |  |  | 125,345 |  |  | 2,356 |  |  | 387,938 |
Total commercial portfolio |  | $ | 479,156 |  |  | $ | 1,790,259 |  |  | $ | 791,434 |  |  | $ | 557,066 |  |  | $ | 263,109 |  |  | $ | 689,035 |  |  | $ | 234,451 |  |  | $ | 4,970 |  |  | $ | 4,809,480 |
The following table presents a vintage analysis of the consumer portfolio segment by loan sub-class and delinquency status:
|  | At March 31, 2022
(in thousands) |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 and prior |  | Revolving |  | Revolving-term |  | Total
CONSUMER PORTFOLIO |  |  |  |  |  |  |  |  |  |  |  |
Single family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 44,563 |  |  | $ | 178,656 |  |  | $ | 152,443 |  |  | $ | 49,114 |  |  | $ | 56,757 |  |  | $ | 275,042 |  |  | $ | — |  |  | $ | — |  |  | $ | 756,575 |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 872 |  |  | — |  |  | — |  |  | 872 |
60-89 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 270 |  |  | — |  |  | — |  |  | 270 |
90+ days |  | — |  |  | — |  |  | — |  |  | 994 |  |  | 452 |  |  | 123 |  |  | — |  |  | — |  |  | 1,569 |
Total (1) |  | 44,563 |  |  | 178,656 |  |  | 152,443 |  |  | 50,108 |  |  | 57,209 |  |  | 276,307 |  |  | — |  |  | — |  |  | 759,286 |
Home equity and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 797 |  |  | 1,585 |  |  | 334 |  |  | 294 |  |  | 197 |  |  | 2,407 |  |  | 284,426 |  |  | 4,755 |  |  | 294,795 |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | — |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 57 |  |  | — |  |  | 60 |
60-89 days |  | — |  |  | 8 |  |  | — |  |  | — |  |  | 15 |  |  | — |  |  | 7 |  |  | — |  |  | 30 |
90+ days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 98 |  |  | 679 |  |  | 62 |  |  | 839 |
Total |  | 797 |  |  | 1,596 |  |  | 334 |  |  | 294 |  |  | 212 |  |  | 2,505 |  |  | 285,169 |  |  | 4,817 |  |  | 295,724 |
Total consumer portfolio |  | $ | 45,360 |  |  | $ | 180,252 |  |  | $ | 152,777 |  |  | $ | 50,402 |  |  | $ | 57,421 |  |  | $ | 278,812 |  |  | $ | 285,169 |  |  | $ | 4,817 |  |  | $ | 1,055,010 |
Total LHFI |  | $ | 524,516 |  |  | $ | 1,970,511 |  |  | $ | 944,211 |  |  | $ | 607,468 |  |  | $ | 320,530 |  |  | $ | 967,847 |  |  | $ | 519,620 |  |  | $ | 9,787 |  |  | $ | 5,864,490 |
(1) Includes $7.0 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 in fair value recognized in the consolidated income statements. The following table presents a vintage analysis of the commercial portfolio segment by loan sub-class and risk rating or 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 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 68,647 |  |  | $ | 50,571 |  |  | $ | 169,711 |  |  | $ | 130,877 |  |  | $ | 100,674 |  |  | $ | 183,024 |  |  | $ | 963 |  |  | $ | 892 |  |  | $ | 705,359 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 68,647 |  |  | 50,571 |  |  | 169,711 |  |  | 130,877 |  |  | 100,674 |  |  | 183,024 |  |  | 963 |  |  | 892 |  |  | 705,359 |
Multifamily |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 1,315,204 |  |  | 561,666 |  |  | 286,826 |  |  | 60,372 |  |  | 26,065 |  |  | 165,225 |  |  | 1 |  |  | — |  |  | 2,415,359 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 1,315,204 |  |  | 561,666 |  |  | 286,826 |  |  | 60,372 |  |  | 26,065 |  |  | 165,225 |  |  | 1 |  |  | — |  |  | 2,415,359 |
Multifamily construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 7,825 |  |  | 22,863 |  |  | 7,173 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 37,861 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 7,825 |  |  | 22,863 |  |  | 7,173 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 37,861 |
CRE construction |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 7,694 |  |  | 3,960 |  |  | — |  |  | 1,962 |  |  | — |  |  | 556 |  |  | — |  |  | — |  |  | 14,172 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 7,694 |  |  | 3,960 |  |  | — |  |  | 1,962 |  |  | — |  |  | 556 |  |  | — |  |  | — |  |  | 14,172 |
Single family construction |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 146,595 |  |  | 35,640 |  |  | 14,509 |  |  | — |  |  | — |  |  | 77 |  |  | 99,206 |  |  | — |  |  | 296,027 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
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 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 70,902 |  |  | 47,536 |  |  | 57,423 |  |  | 47,716 |  |  | 67,042 |  |  | 106,659 |  |  | 798 |  |  | 2,839 |  |  | 400,915 |
Special Mention |  | — |  |  | — |  |  | — |  |  | 2,196 |  |  | 6,019 |  |  | 145 |  |  | — |  |  | 60 |  |  | 8,420 |
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 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 88,139 |  |  | 51,453 |  |  | 44,882 |  |  | 24,711 |  |  | 11,859 |  |  | 21,258 |  |  | 112,759 |  |  | 2,104 |  |  | 357,165 |
Special Mention |  | — |  |  | — |  |  | 7,396 |  |  | — |  |  | 4,396 |  |  | — |  |  | 5,613 |  |  | 134 |  |  | 17,539 |
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 in fair value recognized in the consolidated income statements.
Schedule of Collateral Dependent Loans | The following table presents the amortized cost basis of collateral-dependent loans by loan sub-class and collateral type:
|  | At March 31, 2022 |  |
(in thousands) |  | Land |  | 1-4 Family |  |  |  | Non-residential real estate |  | Other non-real estate |  | Total |  |
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied CRE |  | $ | 1,111 |  |  | $ | — |  |  |  |  | $ | 2,428 |  |  | $ | — |  |  | $ | 3,539 |  |  |
Commercial business |  | 380 |  |  | 16 |  |  |  |  | 562 |  |  | 286 |  |  | 1,244 |  |  |
Total |  | 1,491 |  |  | 16 |  |  |  |  | 2,990 |  |  | 286 |  |  | 4,783 |  |  |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  | — |  |  | 2,049 |  |  |  |  | — |  |  | — |  |  | 2,049 |  |  |
Home equity loans and other |  | — |  |  | 345 |  |  |  |  | — |  |  | — |  |  | 345 |  |  |
Total |  | — |  |  | 2,394 |  |  |  |  | — |  |  | — |  |  | 2,394 |  |  |
Total collateral-dependent loans |  | $ | 1,491 |  |  | $ | 2,410 |  |  |  |  | $ | 2,990 |  |  | $ | 286 |  |  | $ | 7,177 |  |  |
Schedule of Loans on Nonaccrual with no Related Allowance for Credit Loss |
|  | 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 |
Nonaccrual and Past Due Loans The following table presents nonaccrual status for loans:
| At March 31, 2022 |  | At December 31, 2021
(in thousands) |  | Nonaccrual with no related ACL |  | Total Nonaccrual |  | Nonaccrual with no related ACL |  | Total Nonaccrual
Commercial and industrial loans |  |  |  |  |  |  |  |
Owner occupied CRE |  | $ | 3,539 |  |  | $ | 3,539 |  |  | $ | 3,568 |  |  | $ | 3,568 |
Commercial business |  | 1,244 |  |  | 3,996 |  |  | 1,210 |  |  | 5,023 |
Total |  | 4,783 |  |  | 7,535 |  |  | 4,778 |  |  | 8,591 |
Consumer loans |  |  |  |  |  |  |  |
Single family |  | 2,325 |  |  | 2,918 |  |  | 1,324 |  |  | 2,802 |
Home equity and other |  | 52 |  |  | 1,393 |  |  | 23 |  |  | 808 |
Total |  | 2,377 |  |  | 4,311 |  |  | 1,347 |  |  | 3,610 |
Total nonaccrual loans |  | $ | 7,160 |  |  | $ | 11,846 |  |  | $ | 6,125 |  |  | $ | 12,201 |
Schedule of Loans Past Due | The following tables present an aging analysis of past due loans by loan portfolio segment and loan sub-class:
| At March 31, 2022 |
| 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 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 699,277 |  |  | $ | 699,277 |  |
Multifamily | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,729,775 |  |  | 2,729,775 |  |
Construction/land development |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multifamily construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 36,827 |  |  | 36,827 |  |
CRE construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 18,099 |  |  | 18,099 |  |
Single family construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 318,800 |  |  | 318,800 |  |
Single family construction to permanent | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 154,408 |  |  | 154,408 |  |
Total | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,957,186 |  |  | 3,957,186 |  |
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied CRE | — |  |  | — |  |  | — |  |  | 3,539 |  |  | 3,539 |  |  | 460,817 |  |  | 464,356 |  |
Commercial business | — |  |  | — |  |  | — |  |  | 3,996 |  |  | 3,996 |  |  | 383,942 |  |  | 387,938 |  |
Total | — |  |  | — |  |  | — |  |  | 7,535 |  |  | 7,535 |  |  | 844,759 |  |  | 852,294 |  |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family | 3,753 |  |  | 1,821 |  |  | 6,903 |  | (2) | 2,918 |  |  | 15,395 |  |  | 743,891 |  |  | 759,286 |  | (1)
Home equity and other | 61 |  |  | 31 |  |  | — |  |  | 1,393 |  |  | 1,485 |  |  | 294,239 |  |  | 295,724 |  |
Total | 3,814 |  |  | 1,852 |  |  | 6,903 |  |  | 4,311 |  |  | 16,880 |  |  | 1,038,130 |  |  | 1,055,010 |  |
Total loans | $ | 3,814 |  |  | $ | 1,852 |  |  | $ | 6,903 |  |  | $ | 11,846 |  |  | $ | 24,415 |  |  | $ | 5,840,075 |  |  | $ | 5,864,490 |  |
% | 0.07 | % |  | 0.03 | % |  | 0.12 | % |  | 0.20 | % |  | 0.42 | % |  | 99.58 | % |  | 100.00 | % |
| 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 | % |  |
(1)Includes $7.0 million and $7.3 million of loans at March 31, 2022 and December 31, 2021, respectively, where a fair value option election was made at the time of origination and, therefore, are carried at fair value with changes in fair value 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 $11.0 million and $8.4 million at March 31, 2022 and December 31, 2021, respectively.
Schedule of Loan Modifications | The following tables provide information related to loans modified during the quarter ended March 31, 2022 to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of concession granted:
(in thousands) |  | Significant Payment Delay
Loan Type |  | Amortized Cost Basis at March 31, 2022 |  | % of Total Class of Financing Receivable
Single family |  | $ | 153 |  |  | 0.02 | %
(in thousands) |  | Term Extension
Loan Type |  | Amortized Cost Basis at March 31, 2022 |  | % of Total Class of Financing Receivable
Single family |  | $ | 37 |  |  | — | %
(in thousands) |  | Interest Rate Reduction and Term Extension
Loan Type |  | Amortized Cost Basis at March 31, 2022 |  | % of Total Class of Financing Receivable
Single family |  | $ | 1,110 |  |  | 0.15 | %
(in thousands) |  | Significant Payment Delay and Term Extension
Loan Type |  | Amortized Cost Basis at March 31, 2022 |  | % of Total Class of Financing Receivable
Single family |  | $ | 6,397 |  |  | 0.84 | %
Home equity and other |  | 52 |  |  | 0.02 | %
(in thousands) |  | Interest Rate Reduction, Significant Payment Delay and Term Extension
Loan Type |  | Amortized Cost Basis at March 31, 2022 |  | % of Total Class of Financing Receivable
Single family |  | $ | 5,762 |  |  | 0.76 | %
Schedule of Financial Effects of Loan Modifications | The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulty:
Loan Type |  | Financial Effect of:
|  | Interest Rate Reduction
Single family |  | Reduced weighted-average contractual interest rate from 4.28% to 3.25%.
|  | Significant Payment Delay
Single family |  | Provided payment deferrals to borrowers. A weighted average 0.3% of loan balances were capitalized and added to the remaining term of the loan.
Home equity and other |  | Provided payment deferrals to borrowers. A weighted average 6.3% of loan balances were capitalized and added to the remaining term of the loan.
|  | Term Extension
Single family |  | Added a weighted average 3.2 years to the life of loans, which reduced the monthly payment amounts to the borrowers.
Home equity and other |  | Added a weighted average 16.1 years to the life of loans, which reduced the monthly payment amounts to the borrowers.

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- Definition Tabular disclosure of financing receivable modified as troubled debt restructuring. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953676-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953682-111524 + Details
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