XML 31 R13.htm IDEA: XBRL DOCUMENT
v3.25.0.1

LOANS AND CREDIT QUALITY | 12 Months Ended
--- | ---
Dec. 31, 2024
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:
| At December 31,
(in thousands) | 2024 |  | 2023
CRE |  |  |
Non-owner occupied CRE | $ | 570,750 |  |  | $ | 641,885 |
Multifamily | 2,992,675 |  |  | 3,940,189 |
Construction/land development | 472,740 |  |  | 565,916 |
Total | 4,036,165 |  |  | 5,147,990 |
Commercial and industrial loans |  |  |
Owner occupied CRE | 361,997 |  |  | 391,285 |
Commercial business | 312,004 |  |  | 359,049 |
Total | 674,001 |  |  | 750,334 |
Consumer loans |  |  |
Single family | 1,109,095 |  |  | 1,140,279 |
Home equity and other | 412,535 |  |  | 384,301 |
Total (1) | 1,521,630 |  |  | 1,524,580 |
Total LHFI | 6,231,796 |  |  | 7,422,904 |
ACL | (38,743) |  |  | (40,500) |
Total LHFI less ACL | $ | 6,193,053 |  |  | $ | 7,382,404 |
(1) Includes $1.3 million at December 31, 2024 and 2023, 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 $4.0 billion and $5.1 billion at December 31, 2024 and 2023, respectively, were pledged to secure existing or potential borrowings from the FHLB and loans totaling $1.4 billion and $1.2 billion at December 31, 2024 and 2023, respectively, were pledged to secure existing or potential 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 years ended December 31, 2024 and 2023 with respect to such aggregate loans to these related parties and their associates:
| Years Ended December 31,
(in thousands) | 2024 |  | 2023
Beginning balance | $ | 1,932 |  |  | $ | 1,978 |
New loans and advances, net of principal repayments | (73) |  |  | (46) |
Ending balance | $ | 1,859 |  |  | $ | 1,932 |
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 and California. At December 31, 2024 and 2023, single family loans in the state of Washington represented 13% and 11% of the total LHFI portfolio, respectively. At December 31, 2024 and 2023, multifamily loans in the state of California represented 30% and 36% 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. As of December 31, 2024, the historical expected loss rates increased when compared to December 31, 2023. During 2024, expected loss rates increased primarily due to product mix and risk level composition changes and specific reserves on commercial loans, which were partially offset by a reduction in loan balances resulting from our $990 million loan sale. As of December 31, 2024, the Bank expects slight near-term deterioration in commercial collateral values offset by improvement in commercial and single family collateral values in later periods of the two-year forecast period in the markets in which it operates. Additionally, over the near term and two-year forecast period in the markets in which it operates, the Bank expects neutral economic conditions. 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 $1.1 million and $1.8 million at December 31, 2024 and 2023, respectively. The Bank has elected to exclude accrued interest receivable from the evaluation of the ACL. Accrued interest on LHFI was $25.1 million and $28.9 million at December 31, 2024 and 2023, respectively, and was reported in other assets on 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) |  |  |  |  | 2024 |  | 2023 |  |
Beginning balance |  |  |  |  | $ | 40,500 |  |  | $ | 41,500 |  |  |
Provision for credit losses |  |  |  |  | 677 |  |  | (67) |  |  |
Net (charge-offs) recoveries |  |  |  |  | (2,434) |  |  | (933) |  |  |
Ending balance |  |  |  |  | $ | 38,743 |  |  | $ | 40,500 |  |  |
Allowance for unfunded commitments |  |  |  |  |  |  |  |  |
Beginning balance |  |  |  |  | $ | 1,823 |  |  | $ | 2,197 |  |  |
Provision for credit losses |  |  |  |  | (677) |  |  | (374) |  |  |
Ending balance |  |  |  |  | $ | 1,146 |  |  | $ | 1,823 |  |  |
Provision for credit losses: |  |  |  |  |  |  |  |  |
Allowance for credit losses-loans |  |  |  |  | $ | 677 |  |  | $ | (67) |  |  |
Allowance for unfunded commitments |  |  |  |  | (677) |  |  | (374) |  |  |
Total |  |  |  |  | $ | — |  |  | $ | (441) |  |  |
Activity in the ACL by loan portfolio and loan sub-class was as follows:
| Year Ended December 31, 2024
(in thousands) | Beginning balance |  | Charge-offs |  | Recoveries |  | Provision |  | Ending balance
CRE |  |  |  |  |  |  |  |  |
Non-owner occupied CRE | $ | 2,610 |  |  | $ | — |  |  | $ | — |  |  | $ | (871) |  |  | $ | 1,739 |
Multifamily | 13,093 |  |  | — |  |  | — |  |  | 1,816 |  |  | 14,909 |
Construction/land development |  |  |  |  |  |  |  |  |
Multifamily construction | 3,983 |  |  | — |  |  | — |  |  | (3,134) |  |  | 849 |
CRE construction | 189 |  |  | — |  |  | — |  |  | (123) |  |  | 66 |
Single family construction | 7,365 |  |  | — |  |  | — |  |  | (628) |  |  | 6,737 |
Single family construction to permanent | 672 |  |  | — |  |  | — |  |  | (488) |  |  | 184 |
Total | 27,912 |  |  | — |  |  | — |  |  | (3,428) |  |  | 24,484 |
Commercial and industrial loans |  |  |  |  |  |  |  |  |
Owner occupied CRE | 899 |  |  | — |  |  | — |  |  | (323) |  |  | 576 |
Commercial business | 2,950 |  |  | (2,963) |  |  | 522 |  |  | 6,377 |  |  | 6,886 |
Total | 3,849 |  |  | (2,963) |  |  | 522 |  |  | 6,054 |  |  | 7,462 |
Consumer loans |  |  |  |  |  |  |  |  |
Single family | 5,287 |  |  | — |  |  | 7 |  |  | (1,684) |  |  | 3,610 |
Home equity and other | 3,452 |  |  | (178) |  |  | 178 |  |  | (265) |  |  | 3,187 |
Total | 8,739 |  |  | (178) |  |  | 185 |  |  | (1,949) |  |  | 6,797 |
Total ACL | $ | 40,500 |  |  | $ | (3,141) |  |  | $ | 707 |  |  | $ | 677 |  |  | $ | 38,743 |
| Year Ended December 31, 2023
(in thousands) | Beginning balance |  | Charge-offs |  | Recoveries |  | Provision |  | Ending balance
CRE |  |  |  |  |  |  |  |  |
Non-owner occupied CRE | $ | 2,102 |  |  | $ | — |  |  | $ | — |  |  | $ | 508 |  |  | $ | 2,610 |
Multifamily | 10,974 |  |  | — |  |  | — |  |  | 2,119 |  |  | 13,093 |
Construction/land development |  |  |  |  |  |  |  |  |
Multifamily construction | 998 |  |  | — |  |  | — |  |  | 2,985 |  |  | 3,983 |
CRE construction | 196 |  |  | — |  |  | — |  |  | (7) |  |  | 189 |
Single family construction | 12,418 |  |  | — |  |  | — |  |  | (5,053) |  |  | 7,365 |
Single family construction to permanent | 1,171 |  |  | — |  |  | — |  |  | (499) |  |  | 672 |
Total | 27,859 |  |  | — |  |  | — |  |  | 53 |  |  | 27,912 |
Commercial and industrial loans |  |  |  |  |  |  |  |  |
Owner occupied CRE | 1,030 |  |  | — |  |  | — |  |  | (131) |  |  | 899 |
Commercial business | 3,247 |  |  | (1,062) |  |  | 87 |  |  | 678 |  |  | 2,950 |
Total | 4,277 |  |  | (1,062) |  |  | 87 |  |  | 547 |  |  | 3,849 |
Consumer loans |  |  |  |  |  |  |  |  |
Single family | 5,610 |  |  | — |  |  | 23 |  |  | (346) |  |  | 5,287 |
Home equity and other | 3,754 |  |  | (319) |  |  | 338 |  |  | (321) |  |  | 3,452 |
Total | 9,364 |  |  | (319) |  |  | 361 |  |  | (667) |  |  | 8,739 |
Total ACL | $ | 41,500 |  |  | $ | (1,381) |  |  | $ | 448 |  |  | $ | (67) |  |  | $ | 40,500 |
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. The risk rating classification for such loans are based on the non-homogenous definitions noted above. 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, 2024
(in thousands) |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 and prior |  | Revolving |  | Revolving-term |  | Total
COMMERCIAL PORTFOLIO |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied CRE |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | — |  |  | $ | 1,441 |  |  | $ | 70,128 |  |  | $ | 71,493 |  |  | $ | 39,885 |  |  | $ | 347,058 |  |  | $ | (36) |  |  | $ | — |  |  | $ | 529,969 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 24,551 |  |  | — |  |  | — |  |  | 24,551 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,230 |  |  | — |  |  | — |  |  | 16,230 |
Total |  | — |  |  | 1,441 |  |  | 70,128 |  |  | 71,493 |  |  | 39,885 |  |  | 387,839 |  |  | (36) |  |  | — |  |  | 570,750 |
Multifamily |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 1,650 |  |  | 106,415 |  |  | 1,538,855 |  |  | 643,044 |  |  | 257,110 |  |  | 255,643 |  |  | — |  |  | — |  |  | 2,802,717 |
Special Mention |  | — |  |  | — |  |  | 66,217 |  |  | 4,789 |  |  | 73,308 |  |  | 23,835 |  |  | — |  |  | — |  |  | 168,149 |
Substandard |  | — |  |  | — |  |  | 15,602 |  |  | — |  |  | — |  |  | 6,207 |  |  | — |  |  | — |  |  | 21,809 |
Total |  | 1,650 |  |  | 106,415 |  |  | 1,620,674 |  |  | 647,833 |  |  | 330,418 |  |  | 285,685 |  |  | — |  |  | — |  |  | 2,992,675 |
Multifamily construction |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | — |  |  | 31,349 |  |  | 67,557 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 98,906 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | — |  |  | 31,349 |  |  | 67,557 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 98,906 |
CRE construction |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 19 |  |  | 7,198 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7,217 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,821 |  |  | — |  |  | — |  |  | — |  |  | 3,821 |
Total |  | 19 |  |  | 7,198 |  |  | — |  |  | — |  |  | 3,821 |  |  | — |  |  | — |  |  | — |  |  | 11,038 |
Single family construction |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 121,305 |  |  | 22,412 |  |  | 5,346 |  |  | 7,252 |  |  | — |  |  | 69 |  |  | 164,442 |  |  | — |  |  | 320,826 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 121,305 |  |  | 22,412 |  |  | 5,346 |  |  | 7,252 |  |  | — |  |  | 69 |  |  | 164,442 |  |  | — |  |  | 320,826 |
Single family construction to permanent |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 6,153 |  |  | 9,719 |  |  | 17,598 |  |  | 7,977 |  |  | 523 |  |  | — |  |  | — |  |  | — |  |  | 41,970 |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
60-89 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
90+ days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 6,153 |  |  | 9,719 |  |  | 17,598 |  |  | 7,977 |  |  | 523 |  |  | — |  |  | — |  |  | — |  |  | 41,970 |
Owner occupied CRE |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 5,431 |  |  | 10,501 |  |  | 58,423 |  |  | 33,371 |  |  | 41,533 |  |  | 168,082 |  |  | 3 |  |  | 43 |  |  | 317,387 |
Special Mention |  | — |  |  | 1,789 |  |  | 6,129 |  |  | 7,602 |  |  | 317 |  |  | 26,203 |  |  | — |  |  | — |  |  | 42,040 |
Substandard |  | — |  |  | — |  |  | 331 |  |  | — |  |  | — |  |  | 2,239 |  |  | — |  |  | — |  |  | 2,570 |
Total |  | 5,431 |  |  | 12,290 |  |  | 64,883 |  |  | 40,973 |  |  | 41,850 |  |  | 196,524 |  |  | 3 |  |  | 43 |  |  | 361,997 |
Commercial business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 26,706 |  |  | 15,721 |  |  | 36,209 |  |  | 20,347 |  |  | 28,207 |  |  | 28,836 |  |  | 123,003 |  |  | 700 |  |  | 279,729 |
Special Mention |  | — |  |  | — |  |  | 959 |  |  | 2,380 |  |  | 638 |  |  | 615 |  |  | 386 |  |  | — |  |  | 4,978 |
Substandard |  | 243 |  |  | 406 |  |  | 11,885 |  |  | — |  |  | 7,192 |  |  | 4,628 |  |  | 2,920 |  |  | 23 |  |  | 27,297 |
Total |  | 26,949 |  |  | 16,127 |  |  | 49,053 |  |  | 22,727 |  |  | 36,037 |  |  | 34,079 |  |  | 126,309 |  |  | 723 |  |  | 312,004 |
Total commercial portfolio |  | $ | 161,507 |  |  | $ | 206,951 |  |  | $ | 1,895,239 |  |  | $ | 798,255 |  |  | $ | 452,534 |  |  | $ | 904,196 |  |  | $ | 290,718 |  |  | $ | 766 |  |  | $ | 4,710,166 |
The following table presents a vintage analysis of the consumer portfolio segment by loan sub-class and delinquency status:
|  | At December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
(in thousands) |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 and prior |  | Revolving |  | Revolving-term |  | Total |  |  |  |  |  |  |  |  |  |  |  |  |  |
CONSUMER PORTFOLIO |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 566 |  |  | $ | 30,940 |  |  | $ | 378,613 |  |  | $ | 303,920 |  |  | $ | 139,159 |  |  | $ | 251,322 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,104,520 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | — |  |  | — |  |  | 452 |  |  | — |  |  | — |  |  | 1,673 |  |  | — |  |  | — |  |  | 2,125 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
60-89 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 440 |  |  | — |  |  | — |  |  | 440 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
90+ days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,010 |  |  | — |  |  | — |  |  | 2,010 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total |  | 566 |  |  | 30,940 |  |  | 379,065 |  |  | 303,920 |  |  | 139,159 |  |  | 255,445 |  |  | — |  |  | — |  |  | 1,109,095 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 1,606 |  |  | 936 |  |  | 1,528 |  |  | 126 |  |  | 85 |  |  | 1,932 |  |  | 399,531 |  |  | 4,449 |  |  | 410,193 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | 25 |  |  | 4 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 474 |  |  | 62 |  |  | 566 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
60-89 days |  | — |  |  | 3 |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | 626 |  |  | — |  |  | 633 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
90+ days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10 |  |  | 1,127 |  |  | 6 |  |  | 1,143 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total |  | 1,631 |  |  | 943 |  |  | 1,533 |  |  | 126 |  |  | 85 |  |  | 1,942 |  |  | 401,758 |  |  | 4,517 |  |  | 412,535 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total consumer portfolio (1) |  | $ | 2,197 |  |  | $ | 31,883 |  |  | $ | 380,598 |  |  | $ | 304,046 |  |  | $ | 139,244 |  |  | $ | 257,387 |  |  | $ | 401,758 |  |  | $ | 4,517 |  |  | $ | 1,521,630 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total LHFI |  | $ | 163,704 |  |  | $ | 238,834 |  |  | $ | 2,275,837 |  |  | $ | 1,102,301 |  |  | $ | 591,778 |  |  | $ | 1,161,583 |  |  | $ | 692,476 |  |  | $ | 5,283 |  |  | $ | 6,231,796 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) Includes $1.3 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. 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, 2023
(in thousands) |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 and prior |  | Revolving |  | Revolving-term |  | Total
COMMERCIAL PORTFOLIO |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied CRE |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,499 |  |  | $ | 70,388 |  |  | $ | 71,217 |  |  | $ | 41,235 |  |  | $ | 118,900 |  |  | $ | 286,379 |  |  | $ | 601 |  |  | $ | — |  |  | $ | 590,219 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | 686 |  |  | 34,177 |  |  | — |  |  | — |  |  | 34,863 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,230 |  |  | — |  |  | 573 |  |  | — |  |  | 16,803 |
Total |  | 1,499 |  |  | 70,388 |  |  | 71,217 |  |  | 41,235 |  |  | 135,816 |  |  | 320,556 |  |  | 1,174 |  |  | — |  |  | 641,885 |
Multifamily |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 108,274 |  |  | 1,813,647 |  |  | 1,151,677 |  |  | 475,708 |  |  | 189,567 |  |  | 177,712 |  |  | — |  |  | — |  |  | 3,916,585 |
Special Mention |  | — |  |  | — |  |  | 3,942 |  |  | 12,887 |  |  | 2,368 |  |  | 1,344 |  |  | — |  |  | — |  |  | 20,541 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,063 |  |  | — |  |  | — |  |  | 3,063 |
Total |  | 108,274 |  |  | 1,813,647 |  |  | 1,155,619 |  |  | 488,595 |  |  | 191,935 |  |  | 182,119 |  |  | — |  |  | — |  |  | 3,940,189 |
Multifamily construction |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | (198) |  |  | 56,013 |  |  | 112,234 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 168,049 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | (198) |  |  | 56,013 |  |  | 112,234 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 168,049 |
CRE construction |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 7 |  |  | — |  |  | 14,685 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 14,692 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | 3,821 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,821 |
Total |  | 7 |  |  | — |  |  | 14,685 |  |  | 3,821 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 18,513 |
Single family construction |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 75,305 |  |  | 39,621 |  |  | 12,294 |  |  | — |  |  | — |  |  | 72 |  |  | 146,758 |  |  | — |  |  | 274,050 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 75,305 |  |  | 39,621 |  |  | 12,294 |  |  | — |  |  | — |  |  | 72 |  |  | 146,758 |  |  | — |  |  | 274,050 |
Single family construction to permanent |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 27,114 |  |  | 56,469 |  |  | 19,871 |  |  | 1,850 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 105,304 |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
60-89 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
90+ days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 27,114 |  |  | 56,469 |  |  | 19,871 |  |  | 1,850 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 105,304 |
Owner occupied CRE |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 12,459 |  |  | 68,399 |  |  | 39,629 |  |  | 43,399 |  |  | 65,392 |  |  | 111,199 |  |  | 2 |  |  | 1,122 |  |  | 341,601 |
Special Mention |  | 1,871 |  |  | 1,478 |  |  | 9,290 |  |  | — |  |  | 2,956 |  |  | 28,784 |  |  | — |  |  | — |  |  | 44,379 |
Substandard |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 253 |  |  | 5,051 |  |  | — |  |  | — |  |  | 5,305 |
Total |  | 14,331 |  |  | 69,877 |  |  | 48,919 |  |  | 43,399 |  |  | 68,601 |  |  | 145,034 |  |  | 2 |  |  | 1,122 |  |  | 391,285 |
Commercial business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 17,970 |  |  | 45,892 |  |  | 27,227 |  |  | 33,404 |  |  | 16,198 |  |  | 24,903 |  |  | 157,656 |  |  | 973 |  |  | 324,223 |
Special Mention |  | — |  |  | 11,465 |  |  | 2,891 |  |  | — |  |  | 452 |  |  | 38 |  |  | 3,485 |  |  | — |  |  | 18,331 |
Substandard |  | — |  |  | — |  |  | 2,134 |  |  | 7,601 |  |  | 3,788 |  |  | 1,886 |  |  | 1,021 |  |  | 65 |  |  | 16,495 |
Total |  | 17,970 |  |  | 57,357 |  |  | 32,252 |  |  | 41,005 |  |  | 20,438 |  |  | 26,827 |  |  | 162,162 |  |  | 1,038 |  |  | 359,049 |
Total commercial portfolio |  | $ | 244,302 |  |  | $ | 2,163,372 |  |  | $ | 1,467,091 |  |  | $ | 619,905 |  |  | $ | 416,790 |  |  | $ | 674,608 |  |  | $ | 310,096 |  |  | $ | 2,160 |  |  | $ | 5,898,324 |
The following table presents a vintage analysis of the consumer portfolio segment by loan sub-class and delinquency status:
|  | At December 31, 2023
(in thousands) |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 and prior |  | Revolving |  | Revolving-term |  | Total
CONSUMER PORTFOLIO |  |  |  |  |  |  |  |  |  |  |  |
Single family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 27,011 |  |  | $ | 354,691 |  |  | $ | 313,866 |  |  | $ | 147,183 |  |  | $ | 49,126 |  |  | $ | 245,574 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,137,451 |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 781 |  |  | — |  |  | — |  |  | 781 |
60-89 days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,374 |  |  | — |  |  | — |  |  | 1,374 |
90+ days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 673 |  |  | — |  |  | — |  |  | 673 |
Total |  | 27,011 |  |  | 354,691 |  |  | 313,866 |  |  | 147,183 |  |  | 49,126 |  |  | 248,402 |  |  | — |  |  | — |  |  | 1,140,279 |
Home equity and other |  |  |  |  |  |  |  |  |  |  |  |
Current |  | 2,165 |  |  | 2,493 |  |  | 311 |  |  | 121 |  |  | 46 |  |  | 1,631 |  |  | 370,462 |  |  | 5,483 |  |  | 382,712 |
Past due: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
30-59 days |  | 8 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 802 |  |  | 162 |  |  | 974 |
60-89 days |  | 1 |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 419 |  |  | — |  |  | 423 |
90+ days |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 24 |  |  | 162 |  |  | 6 |  |  | 192 |
Total |  | 2,174 |  |  | 2,498 |  |  | 311 |  |  | 121 |  |  | 46 |  |  | 1,655 |  |  | 371,845 |  |  | 5,651 |  |  | 384,301 |
Total consumer portfolio (1) |  | $ | 29,185 |  |  | $ | 357,189 |  |  | $ | 314,177 |  |  | $ | 147,304 |  |  | $ | 49,172 |  |  | $ | 250,057 |  |  | $ | 371,845 |  |  | $ | 5,651 |  |  | $ | 1,524,580 |
Total LHFI |  | $ | 273,487 |  |  | $ | 2,520,561 |  |  | $ | 1,781,268 |  |  | $ | 767,209 |  |  | $ | 465,962 |  |  | $ | 924,665 |  |  | $ | 681,941 |  |  | $ | 7,811 |  |  | $ | 7,422,904 |
(1) Includes $1.3 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. The following table presents a vintage analysis of the commercial and consumer portfolio segment by loan sub-class and gross charge-offs:
| At December 31, 2024
(in thousands) | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 and prior |  | Revolving |  | Revolving-term |  | Total
COMMERCIAL PORTFOLIO |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | — |  |  | $ | (276) |  |  | $ | (473) |  |  | $ | (1,077) |  |  | $ | (1,098) |  |  | $ | (39) |  |  | $ | — |  |  | $ | (2,963) |
CONSUMER PORTFOLIO |  |  |  |  |  |  |  |  |  |  |  |
Home equity and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | — |  |  | (24) |  |  | (16) |  |  | (1) |  |  | — |  |  | — |  |  | (137) |  |  | — |  |  | (178) |
Total LHFI | $ | — |  |  | $ | (24) |  |  | $ | (292) |  |  | $ | (474) |  |  | $ | (1,077) |  |  | $ | (1,098) |  |  | $ | (176) |  |  | $ | — |  |  | $ | (3,141) |
| At December 31, 2023
(in thousands) | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 and prior |  | Revolving |  | Revolving-term |  | Total
COMMERCIAL PORTFOLIO |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | — |  |  | $ | (184) |  |  | $ | — |  |  | $ | (1,136) |  |  | $ | 295 |  |  | $ | 13 |  |  | $ | (50) |  |  | $ | (1,062) |
CONSUMER PORTFOLIO |  |  |  |  |  |  |  |  |  |  |  |
Home equity and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | — |  |  | (106) |  |  | (22) |  |  | — |  |  | — |  |  | (4) |  |  | (187) |  |  | — |  |  | (319) |
Total LHFI | $ | — |  |  | $ | (106) |  |  | $ | (206) |  |  | $ | — |  |  | $ | (1,136) |  |  | $ | 291 |  |  | $ | (174) |  |  | $ | (50) |  |  | $ | (1,381) |
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, 2024
(in thousands) |  | Land |  | 1-4 Family |  | Multifamily |  | Non-residential real estate |  | Other non-real estate |  | Total
CRE |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied CRE |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 16,230 |  |  | $ | — |  |  | $ | 16,230 |
Multifamily |  | — |  |  | — |  |  | 1,915 |  |  | — |  |  | — |  |  | 1,915 |
Construction/land development |  |  |  |  |  |  |  |  |  |  |  |
CRE construction |  | 3,821 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,821 |
Total |  | 3,821 |  |  | — |  |  | 1,915 |  |  | 16,230 |  |  | — |  |  | 21,966 |
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied CRE |  | — |  |  | — |  |  | — |  |  | 205 |  |  | — |  |  | 205 |
Commercial business |  | 4,420 |  |  | 2,927 |  |  | — |  |  | — |  |  | 3,269 |  |  | 10,616 |
Total |  | 4,420 |  |  | 2,927 |  |  | — |  |  | 205 |  |  | 3,269 |  |  | 10,821 |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |
Single family |  | — |  |  | 832 |  |  | — |  |  | — |  |  | — |  |  | 832 |
Total collateral-dependent loans |  | $ | 8,241 |  |  | $ | 3,759 |  |  | $ | 1,915 |  |  | $ | 16,435 |  |  | $ | 3,269 |  |  | $ | 33,619 |
|  |  | At December 31, 2023
(in thousands) |  |  |  | 1-4 Family |  |  |  | Non-residential real estate |  | Other non-real estate |  | Total
CRE |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied CRE |  |  |  | $ | 573 |  |  |  |  | $ | 16,230 |  |  | $ | — |  |  | $ | 16,803 |
Construction/land development |  |  |  |  |  |  |  |  |  |  |  |
CRE construction |  |  |  | — |  |  |  |  | 3,821 |  |  | — |  |  | 3,821 |
Total |  |  |  | 573 |  |  |  |  | 20,051 |  |  | — |  |  | 20,624 |
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  |  |  | 2,788 |  |  |  |  | 5,471 |  |  | 4,587 |  |  | 12,846 |
Total |  |  |  | 2,788 |  |  |  |  | 5,471 |  |  | 4,587 |  |  | 12,846 |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |
Single family |  |  |  | 773 |  |  |  |  | — |  |  | — |  |  | 773 |
Total collateral-dependent loans |  |  |  | $ | 4,134 |  |  |  |  | $ | 25,522 |  |  | $ | 4,587 |  |  | $ | 34,243 |
Nonaccrual and Past Due Loans The following table presents nonaccrual status for loans:
|  | At December 31, 2024 |  | At December 31, 2023
(in thousands) |  | Nonaccrual with no related ACL |  | Total Nonaccrual |  | Nonaccrual with no related ACL |  | Total Nonaccrual
CRE |  |  |  |  |  |  |  |
Non-owner occupied CRE |  | $ | 16,230 |  |  | $ | 16,230 |  |  | $ | 16,803 |  |  | $ | 16,803 |
Multifamily |  | 1,915 |  |  | 1,915 |  |  | — |  |  | — |
Construction/land development |  |  |  |  |  |  |  |
CRE construction |  | 3,821 |  |  | 3,821 |  |  | 3,821 |  |  | 3,821 |
Total |  | 21,966 |  |  | 21,966 |  |  | 20,624 |  |  | 20,624 |
Commercial and industrial loans |  |  |  |  |  |  |  |
Owner occupied CRE |  | 1,161 |  |  | 1,161 |  |  | 706 |  |  | 706 |
Commercial business |  | 8,509 |  |  | 25,740 |  |  | 13,151 |  |  | 13,686 |
Total |  | 9,670 |  |  | 26,901 |  |  | 13,857 |  |  | 14,392 |
Consumer loans |  |  |  |  |  |  |  |
Single family |  | 1,106 |  |  | 2,990 |  |  | 773 |  |  | 2,650 |
Home equity and other |  | — |  |  | 3,137 |  |  | — |  |  | 1,310 |
Total |  | 1,106 |  |  | 6,127 |  |  | 773 |  |  | 3,960 |
Total nonaccrual loans |  | $ | 32,742 |  |  | $ | 54,994 |  |  | $ | 35,254 |  |  | $ | 38,976 |
The following tables present an aging analysis of past due loans by loan portfolio segment and loan sub-class:
| At December 31, 2024 |
| Past Due and Still Accruing |  |  |  |  |  |  |  |  |
(in thousands) | 30-59 days |  | 60-89 days |  | 90 days or more |  | Nonaccrual |  | Total past due and nonaccrual (1) |  | Current |  | Total loans |
CRE |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied CRE | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 16,230 |  |  | $ | 16,230 |  |  | $ | 554,520 |  |  | $ | 570,750 |  |
Multifamily | — |  |  | — |  |  | — |  |  | 1,915 |  |  | 1,915 |  |  | 2,990,760 |  |  | 2,992,675 |  |
Construction/land development |  |  |  |  |  |  |  |  |  |  |  |  |
Multifamily construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 98,906 |  |  | 98,906 |  |
CRE construction | — |  |  | — |  |  | — |  |  | 3,821 |  |  | 3,821 |  |  | 7,217 |  |  | 11,038 |  |
Single family construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 320,826 |  |  | 320,826 |  |
Single family construction to permanent | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 41,970 |  |  | 41,970 |  |
Total | — |  |  | — |  |  | — |  |  | 21,966 |  |  | 21,966 |  |  | 4,014,199 |  |  | 4,036,165 |  |
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied CRE | — |  |  | — |  |  | — |  |  | 1,161 |  |  | 1,161 |  |  | 360,836 |  |  | 361,997 |  |
Commercial business | — |  |  | — |  |  | — |  |  | 25,740 |  |  | 25,740 |  |  | 286,264 |  |  | 312,004 |  |
Total | — |  |  | — |  |  | — |  |  | 26,901 |  |  | 26,901 |  |  | 647,100 |  |  | 674,001 |  |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family | 4,601 |  |  | 1,096 |  |  | 4,354 |  | (2) |  | 2,990 |  |  | 13,041 |  |  | 1,096,054 |  |  | 1,109,095 |  |
Home equity and other | 344 |  |  | 631 |  |  | — |  |  | 3,137 |  |  | 4,112 |  |  | 408,423 |  |  | 412,535 |  |
Total | 4,945 |  |  | 1,727 |  |  | 4,354 |  |  | 6,127 |  |  | 17,153 |  |  | 1,504,477 |  |  | 1,521,630 |  | (3) |
Total loans | $ | 4,945 |  |  | $ | 1,727 |  |  | $ | 4,354 |  |  | $ | 54,994 |  |  | $ | 66,020 |  |  | $ | 6,165,776 |  |  | $ | 6,231,796 |  |
% | 0.08 | % |  | 0.03 | % |  | 0.07 | % |  | 0.88 | % |  | 1.06 | % |  | 98.94 | % |  | 100.00 | % |
| At December 31, 2023 |
| Past Due and Still Accruing |  |  |  |  |  |  |  |  |
(in thousands) | 30-59 days |  | 60-89 days |  | 90 days or more |  | Nonaccrual |  | Total past due and nonaccrual (1) |  | Current |  | Total loans |
CRE |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied CRE | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 16,803 |  |  | $ | 16,803 |  |  | $ | 625,082 |  |  | $ | 641,885 |  |
Multifamily | — |  |  | 1,915 |  |  | — |  |  | — |  |  | 1,915 |  |  | 3,938,274 |  |  | 3,940,189 |  |
Construction/land development |  |  |  |  |  |  |  |  |  |  |  |  |
Multifamily construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 168,049 |  |  | 168,049 |  |
CRE construction | — |  |  | — |  |  | — |  |  | 3,821 |  |  | 3,821 |  |  | 14,692 |  |  | 18,513 |  |
Single family construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 274,050 |  |  | 274,050 |  |
Single family construction to permanent | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 105,304 |  |  | 105,304 |  |
Total | — |  |  | 1,915 |  |  | — |  |  | 20,624 |  |  | 22,539 |  |  | 5,125,451 |  |  | 5,147,990 |  |
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied CRE | — |  |  | — |  |  | — |  |  | 706 |  |  | 706 |  |  | 390,579 |  |  | 391,285 |  |
Commercial business | — |  |  | — |  |  | — |  |  | 13,686 |  |  | 13,686 |  |  | 345,363 |  |  | 359,049 |  |
Total | — |  |  | — |  |  | — |  |  | 14,392 |  |  | 14,392 |  |  | 735,942 |  |  | 750,334 |  |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family | 5,174 |  |  | 1,993 |  |  | 4,261 |  | (2) |  | 2,650 |  |  | 14,078 |  |  | 1,126,201 |  |  | 1,140,279 |  |
Home equity and other | 974 |  |  | 225 |  |  | — |  |  | 1,310 |  |  | 2,509 |  |  | 381,792 |  |  | 384,301 |  |
Total | 6,148 |  |  | 2,218 |  |  | 4,261 |  |  | 3,960 |  |  | 16,587 |  |  | 1,507,993 |  |  | 1,524,580 |  | (3) |
Total loans | $ | 6,148 |  |  | $ | 4,133 |  |  | $ | 4,261 |  |  | $ | 38,976 |  |  | $ | 53,518 |  |  | $ | 7,369,386 |  |  | $ | 7,422,904 |  |
% | 0.08 | % |  | 0.05 | % |  | 0.06 | % |  | 0.53 | % |  | 0.72 | % |  | 99.28 | % |  | 100.00 | % |
(1)Includes loans whose repayments are insured by the FHA or guaranteed by the VA or SBA of $11.3 million and $12.4 million at December 31, 2024 and 2023, respectively. (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 $1.3 million of loans at December 31, 2024 and 2023, 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. Loan Modifications The Company provides MBFDs 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 for the years ended December 31, 2024 and 2023 did not have a material impact on the ACL. The following tables provide information related to MBFDs for years ended December 31, 2024 and 2023 disaggregated by class of financing receivable and type of concession granted:
| Significant Payment Delay
| Years Ended December 31,
| 2024 |  | 2023
(in thousands, except percentages) | Amortized Cost Basis at Period End |  | % of Total Class of Financing Receivable |  | Amortized Cost Basis at Period End |  | % of Total Class of Financing Receivable
Multifamily | $ | 1,915 |  |  | 0.06 | % |  | $ | — |  |  | — | %
Commercial business | 1,446 |  |  | 0.46 | % |  | 839 |  |  | 0.23 | %
Single family | 85 |  |  | 0.01 | % |  | 1,082 |  |  | 0.09 | %
| Term Extension
| Years Ended December 31,
| 2024 |  | 2023
(in thousands, except percentages) | 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 | $ | 1,536 |  |  | 0.49 | % |  | $ | 9,850 |  |  | 2.74 | %
Single family | — |  |  | — | % |  | 273 |  |  | 0.02 | %
| Interest Rate Reduction and Significant Payment Delay
| Years Ended December 31,
| 2024 |  | 2023
(in thousands, except percentages) | 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 | $ | 4,420 |  |  | 1.42 | % |  | $ | — |  |  | — | %
| Significant Payment Delay and Term Extension
| Years Ended December 31,
| 2024 |  | 2023
(in thousands, except percentages) | Amortized Cost Basis at Period End |  | % of Total Class of Financing Receivable |  | Amortized Cost Basis at Period End |  | % of Total Class of Financing Receivable
Non-owner occupied CRE | $ | 19,331 |  |  | 3.39 | % |  | $ | 16,230 |  |  | 2.53 | %
Construction/land development | — |  |  | — | % |  | 3,821 |  |  | 0.68 | %
Owner occupied CRE | 254 |  |  | 0.07 | % |  | — |  |  | — | %
Commercial business | 410 |  |  | 0.13 | % |  | — |  |  | — | %
Single family | 3,668 |  |  | 0.33 | % |  | 2,526 |  |  | 0.22 | %
| Interest Rate Reduction, Significant Payment Delay and Term Extension
| Years Ended December 31,
| 2024 |  | 2023
(in thousands, except percentages) | Amortized Cost Basis at Period End |  | % of Total Class of Financing Receivable |  | Amortized Cost Basis at Period End |  | % of Total Class of Financing Receivable
Construction/land development | $ | 3,821 |  |  | 0.81 | % |  | $ | — |  |  | — | %
Single family | — |  |  | — | % |  | 191 |  |  | 0.02 | %
The following tables describes the financial effect of the MBFDs:
| Interest Rate Reduction
| Years Ended December 31,
| 2024 |  | 2023
Construction/land development | Reduced weighted-average contractual interest rate from 7.75% to 5.00%. |  | —
Commercial business | Reduced weighted-average contractual interest rate from 7.75% to 5.00%. |  | —
Single family | — |  | Reduced weighted-average contractual interest rate from 5.25% to 5.00%.
| Significant Payment Delay
| Years Ended December 31,
| 2024 |  | 2023
Non-owner occupied CRE | The weighted average duration of loan payments deferred is 0.8 years. |  | The weighted average duration of loan payments deferred is 3.7 years.
Multifamily | The weighted average duration of loan payments deferred is 1.5 years. |  | —
Construction/land development | The weighted average duration of loan payments deferred is 0.6 years. |  | The weighted average duration of loan payments deferred is 2.7 years.
Owner occupied CRE | The weighted average duration of loan payments deferred is 3.0 years. |  | —
Commercial business | The weighted average duration of loan payments deferred is 0.6 years. |  | The weighted average duration of loan payments deferred is 5.2 years.
Single family | Provided payment deferrals to borrowers. A weighted average 0.41% of loan balances were capitalized and added to the remaining term of the loan. |  | Provided payment deferrals to borrowers. A weighted average 0.37% of loan balances were capitalized and added to the remaining term of the loan.
| Term Extension
| Years Ended December 31,
| 2024 |  | 2023
Non-owner occupied CRE | Added a weighted average 0.8 years to the life of loans, which reduced the monthly payment amounts to the borrowers. |  | Added a weighted average 2.1 years to the life of loans, which reduced the monthly payment amounts to the borrowers.
Construction/land development | Added a weighted average 0.6 years to the life of loans, which reduced the monthly payment amounts to the borrowers. |  | Added a weighted average 1.6 years to the life of loans, which reduced the monthly payment amounts to the borrowers.
Owner occupied CRE | Added a weighted average 3.0 years to the life of loans, which reduced the monthly payment amounts to the borrowers. |  | —
Commercial business | Added a weighted average 0.8 years to the life of loans, which reduced the monthly payment amounts to the borrowers. |  | Added a weighted average 1.2 years to the life of loans, which reduced the monthly payment amounts to the borrowers.
Single family | Added a weighted average 3.9 years to the life of loans, which reduced the monthly payment amounts to the borrowers. |  | Added a weighted average 4.9 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 were modified to borrowers experiencing financial difficulties on or after October 1, 2023 through September 30, 2024:
| Payment Status (Amortized Cost Basis) at December 31, 2024
(in thousands) | Current |  | 30-89 Days Past Due |  | 90+ Days Past Due
Multifamily | $ | — |  |  | $ | — |  |  | $ | 1,915 |
Commercial business | 1,157 |  |  | — |  |  | 1,150 |
Single family | 1,690 |  |  | — |  |  | 875 |
Total | $ | 2,847 |  |  | $ | — |  |  | $ | 3,940 |
The following table depicts the payment status of loans that were modified to borrowers experiencing financial difficulties on or after October 1, 2022 through September 30, 2023:
| Payment Status (Amortized Cost Basis) at December 31, 2023
(in thousands) | Current |  | 30-89 Days Past Due |  | 90+ Days Past Due
Non-owner occupied CRE | $ | 16,230 |  |  | $ | — |  |  | $ | — |
Construction/land development | 3,821 |  |  | — |  |  | — |
Commercial business | 8,873 |  |  | 976 |  |  | — |
Single family | 2,627 |  |  | 1,285 |  |  | 324 |
Total | $ | 31,551 |  |  | $ | 2,261 |  |  | $ | 324 |
The following tables provide the amortized cost basis as of December 31, 2024 of MBFDs, on or after October 1, 2023 through September 30, 2024 and that subsequently had a payment default:
|  | Amortized Cost Basis of Modified Loans That Subsequently Defaulted Year Ended December 31, 2024
(in thousands) |  | Significant Payment Delay |  | Term Extension |  | Interest Rate Reduction and Term Extension |  | Significant Payment Delay and Term Extension |  | Interest Rate Reduction, Significant Payment Delay and Term Extension
Commercial business |  | $ | — |  |  | $ | 1,150 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Single family |  | 238 |  |  | — |  |  | — |  |  | 637 |  |  | — |
Total |  | $ | 238 |  |  | $ | 1,150 |  |  | $ | — |  |  | $ | 637 |  |  | $ | — |
The following tables provide the amortized cost basis as of December 31, 2023 of MBFDs, on or after October 1, 2022 through September 30, 2023 and subsequently had a payment default:
|  | Amortized Cost Basis of Modified Loans That Subsequently Defaulted Year Ended December 31, 2023
(in thousands) |  | Significant Payment Delay |  | Term Extension |  | Interest Rate Reduction and Term Extension |  | Significant Payment Delay and Term Extension |  | Interest Rate Reduction, Significant Payment Delay and Term Extension
Commercial business |  | $ | — |  |  | $ | 976 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Single family |  | — |  |  | — |  |  | — |  |  | 1,354 |  |  | — |
Total |  | $ | — |  |  | $ | 976 |  |  | $ | — |  |  | $ | 1,354 |  |  | $ | — |

X
- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481933/310-10-55-12A Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-42 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 44 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-44 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-20/tableOfContent + 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