XML 20 R11.htm IDEA: XBRL DOCUMENT v3.22.2.2

LOANS AND CREDIT QUALITY

9 Months Ended

Sep. 30, 2022

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: non-owner occupied commercial real estate ("CRE"), multifamily, construction and land development, owner occupied CRE and commercial business loans within the commercial loan portfolio segment and single family and home equity and other loans within the consumer loan portfolio segment. LHFI consists of the following:

(in thousands)			At September 30, 2022						At December 31, 2021
CRE
Non-owner occupied CRE			$	666,394					$	705,359
Multifamily			3,923,946						2,415,359
Construction/land development			590,092						496,144
Total			5,180,432						3,616,862
Commercial and industrial loans
Owner occupied CRE			432,114						457,706
Commercial business			361,635						401,872
Total			793,749						859,578
Consumer loans
Single family			907,044						763,331
Home equity and other			332,262						303,078
Total (1)			1,239,306						1,066,409
Total LHFI			7,213,487						5,542,849
Allowance for credit losses ("ACL")			(37,606)						(47,123)
Total LHFI less ACL			$	7,175,881					$	5,495,726

(1)    Includes $5.8 million and $7.3 million at September 30, 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.

Loans totaling $3.8 billion and $2.8 billion at September 30, 2022 and December 31, 2021, respectively, were pledged to secure borrowings from the Federal Home Loan Bank ("FHLB") and loans totaling $501 million and $419 million at September 30, 2022 and December 31, 2021, respectively, were pledged to secure borrowings from the Federal Reserve Bank of San Francisco ("FRBSF").

Credit Risk Concentrations

LHFI are primarily secured by real estate located in the Pacific Northwest, California and Hawaii. At September 30, 2022 and December 31, 2021, multifamily loans in the state of California represented 37% and 33% 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. 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 the third quarter of 2022, the historical expected loss rates decreased from December 31, 2021 due to minimal charge-offs and favorable product mix risk composition. During the third quarter of 2022, the qualitative factors decreased significantly due to the continued favorable performance and outlook of the impact of the COVID-19 pandemic on our loan portfolio, which resulted in no COVID-19 management overlay. As of September 30, 2022, the Bank expects that the markets in which it operates will have declining collateral values and a stable 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 $2.6 million and $2.4 million at September 30, 2022 and December 31, 2021, respectively.

The Bank has elected to exclude accrued interest receivable from the evaluation of the ACL. Accrued interest on LHFI was $23.9 million and $17.8 million at September 30, 2022 and December 31, 2021, 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:

			Quarter Ended September 30,												Nine Months Ended September 30,
(in thousands)			2022						2021						2022						2021
Beginning balance			$	37,355					$	59,897					$	47,123					$	64,294
Provision for credit losses			249						(5,348)						(9,190)						(9,864)
Net (charge-offs) recoveries			2						(33)						(327)						86
Ending balance			$	37,606					$	54,516					$	37,606					$	54,516
Allowance for unfunded commitments:
Beginning balance			$	2,843					$	2,104					$	2,404					$	1,588
Provision for credit losses			(249)						348						190						864
Ending balance			$	2,594					$	2,452					$	2,594					$	2,452
Provision for credit losses:
Allowance for credit losses - loans			$	249					$	(5,348)					$	(9,190)					$	(9,864)
Allowance for unfunded commitments			(249)						348						190						864
Total			$	—					$	(5,000)					$	(9,000)					$	(9,000)

Activity in the ACL for LHFI by loan portfolio and loan sub-class was as follows:

			Quarter Ended September 30, 2022
(in thousands)			Beginning balance						Charge-offs						Recoveries						Provision						Ending balance
CRE
Non-owner occupied CRE			$	2,180					$	—					$	—					$	(74)					$	2,106
Multifamily			10,074						—						—						1,109						11,183
Construction/land development
Multifamily construction			566						—						—						99						665
CRE construction			185						—						—						(25)						160
Single family construction			10,687						—						—						(1,123)						9,564
Single family construction to permanent			1,159						—						—						(19)						1,140
Total			24,851						—						—						(33)						24,818
Commercial and industrial loans
Owner occupied CRE			1,092						—						—						(123)						969
Commercial business			3,578						(81)						25						197						3,719
Total			4,670						(81)						25						74						4,688
Consumer loans
Single family			4,027						—						1						436						4,464
Home equity and other			3,807						(43)						100						(228)						3,636
Total			7,834						(43)						101						208						8,100
Total ACL			$	37,355					$	(124)					$	126					$	249					$	37,606

			Quarter Ended September 30, 2021
(in thousands)			Beginning balance						Charge-offs						Recoveries						Provision						Ending balance
CRE
Non-owner occupied CRE			$	9,077					$	—					$	—					$	559					$	9,636
Multifamily			7,245						—						—						(1,788)						5,457
Construction/land development
Multifamily construction			500						—						—						544						1,044
CRE construction			2,022						—						—						(1,671)						351
Single family construction			5,653						—						—						638						6,291
Single family construction to permanent			1,047						—						—						15						1,062
Total			25,544						—						—						(1,703)						23,841
Commercial and industrial loans
Owner occupied CRE			5,518						—						—						(233)						5,285
Commercial business			15,874						(116)						24						(1,309)						14,473
Total			21,392						(116)						24						(1,542)						19,758
Consumer loans
Single family			7,163						(13)						33						(1,426)						5,757
Home equity and other			5,798						(341)						380						(677)						5,160
Total			12,961						(354)						413						(2,103)						10,917
Total ACL			$	59,897					$	(470)					$	437					$	(5,348)					$	54,516

			Nine Months Ended September 30, 2022
(in thousands)			Beginning balance						Charge-offs						Recoveries						Provision						Ending balance
CRE
Non-owner occupied CRE			$	7,509					$	—					$	—					$	(5,403)					$	2,106
Multifamily			5,854						—						—						5,329						11,183
Construction/land development
Multifamily construction			507						—						—						158						665
CRE construction			150						—						—						10						160
Single family construction			6,411						—						—						3,153						9,564
Single family construction to permanent			1,055						—						—						85						1,140
Total			21,486						—						—						3,332						24,818
Commercial and industrial loans
Owner occupied CRE			5,006						—						—						(4,037)						969
Commercial business			12,273						(741)						94						(7,907)						3,719
Total			17,279						(741)						94						(11,944)						4,688
Consumer loans
Single family			4,394						—						141						(71)						4,464
Home equity and other			3,964						(109)						288						(507)						3,636
Total			8,358						(109)						429						(578)						8,100
Total ACL			$	47,123					$	(850)					$	523					$	(9,190)					$	37,606

			Nine Months Ended September 30, 2021
(in thousands)			Beginning balance						Charge-offs						Recoveries						Provision						Ending balance
CRE
Non-owner occupied CRE			$	8,845					$	—					$	—					$	791					$	9,636
Multifamily			6,072						—						—						(615)						5,457
Construction/land development
Multifamily construction			4,903						—						—						(3,859)						1,044
CRE construction			1,670						—						—						(1,319)						351
Single family construction			5,130						—						—						1,161						6,291
Single family construction to permanent			1,315						—						—						(253)						1,062
Total			27,935						—						—						(4,094)						23,841
Commercial and industrial loans
Owner occupied CRE			4,994						—						—						291						5,285
Commercial business			17,043						(116)						122						(2,576)						14,473
Total			22,037						(116)						122						(2,285)						19,758
Consumer loans
Single family			6,906						(127)						155						(1,177)						5,757
Home equity and other			7,416						(432)						484						(2,308)						5,160
Total			14,322						(559)						639						(3,485)						10,917
Total ACL			$	64,294					$	(675)					$	761					$	(9,864)					$	54,516

The following table presents a vintage analysis of the commercial portfolio segment by loan sub-class and risk rating or delinquency status.

						At September 30, 2022
(in thousands)						2022						2021						2020						2019						2018						2017 and prior						Revolving						Revolving-term						Total
COMMERCIAL PORTFOLIO
Non-owner occupied CRE
Pass						$	68,355					$	68,432					$	42,525					$	140,499					$	92,645					$	246,729					$	2,141					$	802					$	662,128
Special Mention						—						—						—						—						—						4,266						—						—						4,266
Substandard						—						—						—						—						—						—						—						—						—
Total						68,355						68,432						42,525						140,499						92,645						250,995						2,141						802						666,394
Multifamily
Pass						1,642,429						1,292,784						531,838						222,624						59,604						142,064						320						—						3,891,663
Special Mention						—						—						4,893						19,835						—						7,555						—						—						32,283
Substandard						—						—						—						—						—						—						—						—						—
Total						1,642,429						1,292,784						536,731						242,459						59,604						149,619						320						—						3,923,946
Multifamily construction
Pass						9,078						40,846						12,793						—						—						—						—						—						62,717
Special Mention						—						—						—						—						—						—						—						—						—
Substandard						—						—						—						—						—						—						—						—						—
Total						9,078						40,846						12,793						—						—						—						—						—						62,717
CRE construction
Pass						—						14,314						3,959						—						—						311						—						—						18,584
Special Mention						—						—						—						—						—						—						—						—						—
Substandard						—						—						—						—						—						—						—						—						—
Total						—						14,314						3,959						—						—						311						—						—						18,584
Single family construction
Pass						130,517						72,095						24,369						2,129						—						75						116,346						—						345,531
Special Mention						—						—						—						—						—						—						—						—						—
Substandard						—						—						—						—						—						—						—						—						—
Total						130,517						72,095						24,369						2,129						—						75						116,346						—						345,531
Single family construction to permanent
Current						40,499						99,023						17,758						5,186						794						—						—						—						163,260
Past due:
30-59 days						—						—						—						—						—						—						—						—						—
60-89 days						—						—						—						—						—						—						—						—						—
90+ days						—						—						—						—						—						—						—						—						—
Total						40,499						99,023						17,758						5,186						794						—						—						—						163,260
Owner occupied CRE
Pass						49,583						53,256						45,926						72,717						41,147						147,619						—						1,123						411,371
Special Mention						—						—						—						—						2,149						13,944						—						—						16,093
Substandard						—						—						—						—						2,159						2,491						—						—						4,650
Total						49,583						53,256						45,926						72,717						45,455						164,054						—						1,123						432,114
Commercial business
Pass						56,784						46,473						47,357						22,740						14,232						20,234						123,215						1,931						332,966
Special Mention						—						189						—						—						193						3,796						753						109						5,040
Substandard						—						6,986						2,778						4,724						2,485						2,031						4,625						—						23,629
Total						56,784						53,648						50,135						27,464						16,910						26,061						128,593						2,040						361,635
Total commercial portfolio						$	1,997,245					$	1,694,398					$	734,196					$	490,454					$	215,408					$	591,115					$	247,400					$	3,965					$	5,974,181

The following table presents a vintage analysis of the consumer portfolio segment by loan sub-class and delinquency status:

						At September 30, 2022
(in thousands)						2022						2021						2020						2019						2018						2017 and prior						Revolving						Revolving-term						Total
CONSUMER PORTFOLIO
Single family
Current						$	199,172					$	220,456					$	147,398					$	48,390					$	47,679					$	241,953					$	—					$	—					$	905,048
Past due:
30-59 days						—						—						—						—						—						93						—						—						93
60-89 days						—						—						—						—						—						—						—						—						—
90+ days						—						—						—						432						—						1,471						—						—						1,903
Total						199,172						220,456						147,398						48,822						47,679						243,517						—						—						907,044
Home equity and other
Current						2,347						912						188						191						139						1,622						322,132						4,172						331,703
Past due:
30-59 days						—						30						—						—						—						52						232						2						316
60-89 days						—						—						—						—						—						—						4						—						4
90+ days						25						—						—						—						—						214						—						—						239
Total						2,372						942						188						191						139						1,888						322,368						4,174						332,262
Total consumer portfolio (1)						$	201,544					$	221,398					$	147,586					$	49,013					$	47,818					$	245,405					$	322,368					$	4,174					$	1,239,306
Total LHFI						$	2,198,789					$	1,915,796					$	881,782					$	539,467					$	263,226					$	836,520					$	569,768					$	8,139					$	7,213,487

(1)    Includes $5.8 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						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 (1)						$	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.

Collateral Dependent Loans

The following table presents the amortized cost basis of collateral-dependent loans by loan sub-class and collateral type:

						At September 30, 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					$	—											$	1,410					$	—					$	2,521
Commercial business						62						—												562						4						628
Total collateral-dependent loans						$	1,173					$	—											$	1,972					$	4					$	3,149

						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 September 30, 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						$	2,521					$	2,521					$	3,568					$	3,568
Commercial business						628						4,721						1,210						5,023
Total						3,149						7,242						4,778						8,591
Consumer loans
Single family						341						3,893						1,324						2,802
Home equity and other						5						1,131						23						808
Total						346						5,024						1,347						3,610
Total nonaccrual loans						$	3,495					$	12,266					$	6,125					$	12,201

The following tables present an aging analysis of past due loans by loan portfolio segment and loan sub-class:

			At September 30, 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			$	—					$	—					$	—					$	—					$	—					$	666,394					$	666,394
Multifamily			—						—						—						—						—						3,923,946						3,923,946
Construction/land development
Multifamily construction			—						—						—						—						—						62,717						62,717
CRE construction			—						—						—						—						—						18,584						18,584
Single family construction			—						—						—						—						—						345,531						345,531
Single family construction to permanent			—						—						—						—						—						163,260						163,260
Total			—						—						—						—						—						5,180,432						5,180,432
Commercial and industrial loans
Owner occupied CRE			—						—						—						2,521						2,521						429,593						432,114
Commercial business			—						—						—						4,721						4,721						356,914						361,635
Total			—						—						—						7,242						7,242						786,507						793,749
Consumer loans
Single family			2,996						863						5,064			(2)			3,893						12,816						894,228						907,044
Home equity and other			143						4						—						1,131						1,278						330,984						332,262
Total			3,139						867						5,064						5,024						14,094						1,225,212						1,239,306			(1)
Total loans			$	3,139					$	867					$	5,064					$	12,266					$	21,336					$	7,192,151					$	7,213,487
%			0.04		%				0.01		%				0.07		%				0.17		%				0.30		%				99.70		%				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
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			(1)
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 $5.8 million and $7.3 million of loans at September 30, 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 Small Business Administration " SBA" of $11.6 million and $8.4 million at September 30, 2022 and December 31, 2021, respectively.

Loan Modifications

The Company provides modifications to borrowers experiencing financial difficulty which may include delays in payment of amounts due, extension of the terms of the notes or reduction in the interest rates on the notes. In certain instances, the Company may grant more than one type of modification. The granting of modifications in the quarter and nine months ended September 30, 2022 did not have a material impact on the ACL. The following tables provide information related to loans modified during the quarter and nine months ended September 30, 2022 to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of concession granted:

						Significant Payment Delay
						Quarter Ended September 30, 2022												Nine Months Ended September 30, 2022
(in thousands)						Amortized Cost Basis at Period End						% of Total Class of Financing Receivable						Amortized Cost Basis at Period End						% of Total Class of Financing Receivable
Single family						$	682					0.08		%				$	1,209					0.13		%
Home equity and other						—						—		%				70						0.02		%

						Term Extension
						Quarter Ended September 30, 2022												Nine Months Ended September 30, 2022
(in thousands)						Amortized Cost Basis at Period End						% of Total Class of Financing Receivable						Amortized Cost Basis at Period End						% of Total Class of Financing Receivable
Commercial business						$	—					—		%				$	1,570					0.43		%
Single family						—						—		%				270						0.03		%

						Interest Rate Reduction and Significant Payment Delay
						Quarter Ended September 30, 2022												Nine Months Ended September 30, 2022
(in thousands)						Amortized Cost Basis at Period End						% of Total Class of Financing Receivable						Amortized Cost Basis at Period End						% of Total Class of Financing Receivable
Commercial business						$	477					0.13		%				$	477					0.13		%

						Interest Rate Reduction and Term Extension
						Quarter Ended September 30, 2022												Nine Months Ended September 30, 2022
(in thousands)						Amortized Cost Basis at Period End						% of Total Class of Financing Receivable						Amortized Cost Basis at Period End						% of Total Class of Financing Receivable
Single family						$	—					—		%				$	819					0.09		%

						Significant Payment Delay and Term Extension
						Quarter Ended September 30, 2022												Nine Months Ended September 30, 2022
(in thousands)						Amortized Cost Basis at Period End						% of Total Class of Financing Receivable						Amortized Cost Basis at Period End						% of Total Class of Financing Receivable
Single family						$	4,033					0.44		%				$	13,325					1.47		%
Home equity and other						—						—		%				51						0.01		%

						Interest Rate Reduction, Significant Payment Delay and Term Extension
						Quarter Ended September 30, 2022												Nine Months Ended September 30, 2022
(in thousands)						Amortized Cost Basis at Period End						% of Total Class of Financing Receivable						Amortized Cost Basis at Period End						% of Total Class of Financing Receivable
Single family						$	294					0.03		%				$	7,185					0.79		%

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

Interest Rate Reduction

(in thousands)

Quarter Ended September 30, 2022

Nine Months Ended September 30, 2022

Commercial business

Reduced weighted-average contractual interest rate from 5.72% to 4.00%.

Reduced weighted-average contractual interest rate from 5.72% to 4.00%.

Single family

Reduced weighted-average contractual interest rate from 4.38% to 4.13%.

Reduced weighted-average contractual interest rate from 4.35% to 3.39%.

Significant Payment Delay

(in thousands)

Quarter Ended September 30, 2022

Nine Months Ended September 30, 2022

Single family

Provided payment deferrals to borrowers. A weighted average 1.83% of loan balances were capitalized and added to the remaining term of the loan.

Provided payment deferrals to borrowers. A weighted average 0.22% 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 3.44% of loan balances were capitalized and added to the remaining term of the loan.

Term Extension

(in thousands)

Quarter Ended September 30, 2022

Nine Months Ended September 30, 2022

Commercial business

—

Added a weighted average 0.8 years to the life of loans, which reduced the monthly payment amounts to the borrowers.

Single family

Added a weighted average 3.6 years to the life of loans, which reduced the monthly payment amounts to the borrowers.

Added a weighted average 4.4 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.

Upon determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount.

The following table depicts the payment status of loans that have been modified to borrowers experiencing financial difficulty during the six months ended June 30, 2022:

			Payment Status (Amortized Cost Basis) at September 30, 2022
(in thousands)			Current						30-89 Days Past Due						90+ Days Past Due
Commercial business			$	1,570					$	—					$	—
Single family			16,205						405						1,002
Home equity and other			121						—						—
Total			$	17,896					$	405					$	1,002

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 https://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 https://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