LOAN COMMITMENTS AND OTHER RELATED ACTIVITIES

Some financial instruments, such as loan commitments, credit lines, letters of credit, and overdraft protection, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Risk of credit loss exists up to the face amount of these instruments. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment.

The contractual amount of financial instruments with off-balance-sheet risk was as follows for the dates indicated:



	June 30, 2017				December 31, 2016
	Fixed Rate		Variable Rate		Fixed Rate		Variable Rate
	(In thousands)
Commitments to extend credit⁽¹⁾	$	10,437	$	221,391	$	74,777	$	201,321
Unused lines of credit	53,320		1,098,668		27,151		888,236
Letters of credit	1,886		8,414		1,784		8,655


(1)	Includes $5.2 million and $65.1 million, respectively, of commitments to extend credit related to discontinued operations at March 31, 2017 and December 31, 2016.

Commitments to make loans are generally made for periods of 30 days or less.

Other Commitments

As of June 30, 2017, the Company had jumbo SFR mortgage loan sale commitments of $103.5 million. Total forward commitments related to mortgage banking activities were $207.8 million at June 30, 2017. These commitments consisted of TBAs of $198.0 million and best efforts contracts of $9.8 million. Additionally, the Company had IRLCs of $24.4 million.

During the three months ended March 31, 2017, the Bank entered into certain definitive agreements which grant the Bank the exclusive naming rights to the soccer stadium of The Los Angeles Football Club (LAFC) as well as the right to be the official bank of LAFC. In exchange for the Bank’s rights as set forth in the agreements, the Bank agreed to pay LAFC $100.0 million over a period of 15 years, beginning in 2017 and ending in 2032. As of June 30, 2017, the Company paid $10.0 million of the commitment, which was recognized as a prepaid asset and included in Other Assets in Consolidated Statements of Financial Condition. See note 21 for additional information.

The Company had unfunded commitments of $18.4 million, $11.8 million, and $111.7 million for Affordable House Fund Investment, SBIC, and Other Investments including investments in alternative energy partnerships, at June 30, 2017, respectively.