LOANS AND LEASES AND ALLOWANCE FOR LOAN AND LEASE LOSSES

3 Months Ended

Mar. 31, 2018

LOANS AND LEASES AND ALLOWANCE FOR LOAN AND LEASE LOSSES

The Company's loan and lease portfolio includes Non-Traditional Mortgage (NTM) loans. The Company’s NTM portfolio is comprised of three interest only products: Green Account Loans (Green Loans), which are a type of home equity lines of credit (HELOCs), fixed or adjustable rate hybrid interest only mortgage (Interest Only) loans and a small number of additional loans with the potential for negative amortization.

The following table presents the balances in the Company’s loans and leases portfolio as of the dates indicated:



($ in thousands)	NTM Loans		Traditional Loans and Leases		Total Loans and Leases Receivable
March 31, 2018
Commercial:
Commercial and industrial	$	—	$	1,638,559	$	1,638,559
Commercial real estate	—		773,193		773,193
Multifamily	—		1,944,082		1,944,082
SBA	—		79,022		79,022
Construction	—		200,766		200,766
Lease financing	—		3		3
Consumer:
Single family residential mortgage	843,255		1,358,103		2,201,358
Other consumer	3,545		89,979		93,524
Total loans and leases	$	846,800	$	6,083,707	$	6,930,507
Allowance for loan and lease losses					(54,763		)
Loans and leases receivable, net					$	6,875,744
December 31, 2017
Commercial:
Commercial and industrial	$	—	$	1,701,951	$	1,701,951
Commercial real estate	—		717,415		717,415
Multifamily	—		1,816,141		1,816,141
SBA	—		78,699		78,699
Construction	—		182,960		182,960
Lease financing	—		13		13
Consumer:
Single family residential mortgage	803,355		1,252,294		2,055,649
Other consumer	3,578		103,001		106,579
Total loans and leases	$	806,933	$	5,852,474	$	6,659,407
Allowance for loan and lease losses					(49,333		)
Loans and leases receivable, net					$	6,610,074

Non-Traditional Mortgage Loans

The following table presents the composition of the NTM portfolio as of the dates indicated:



	March 31, 2018						December 31, 2017
($ in thousands)	Count	Amount			Percent		Count	Amount			Percent
Green Loans (HELOC) - first liens	99	$	79,248		9.4	%	101	$	82,197		10.2	%
Interest-only - first liens	499	760,370			89.8	%	468	717,484			88.9	%
Negative amortization	11	3,637			0.4	%	11	3,674			0.5	%
Total NTM - first liens	609	843,255			99.6	%	580	803,355			99.6	%
Green Loans (HELOC) - second liens	12	3,545			0.4	%	12	3,578			0.4	%
Total NTM - second liens	12	3,545			0.4	%	12	3,578			0.4	%
Total NTM loans	621	$	846,800		100.0	%	592	$	806,933		100.0	%
Total loans and leases		$	6,930,507					$	6,659,407
% of NTM to total loans and leases		12.2		%				12.1		%

Green Loans

Green Loans are SFR first and second mortgage lines of credit with a linked checking account that allows all types of deposits and withdrawals to be performed. The loans are generally interest only with a 15-year balloon payment due at maturity. As a result of their unique payment feature, Green Loans possess higher credit risk due to the potential for negative amortization; however, management believes the risk is mitigated through the Company’s loan terms and underwriting standards, including its policies on loan-to-value (LTV) ratios and the Company’s contractual ability to curtail loans when the value of the underlying collateral declines. The Company discontinued origination of the Green Loan products in 2011.

Interest Only Loans

Interest only loans are primarily SFR first mortgage loans with payment features that allow interest only payments in initial periods before converting to a fully amortizing loan.

Loans with the Potential for Negative Amortization

The Company discontinued origination of negative amortization loans in 2007. Negative amortization loans other than Green Loans pose a potentially higher credit risk because of the lack of principal amortization and potential for negative amortization; however, management believes the risk is mitigated through the loan terms and underwriting standards, including the Company’s policies on LTV ratios.

Allowance for Loan and Lease Losses

The Company has established credit risk management processes that include regular management review of the loan and lease portfolio to identify problem loans and leases. During the ordinary course of business, management becomes aware of borrowers and lessees who may not be able to fulfill the contractual payment requirements of the loan and lease agreements. Such loans and leases are subject to increased monitoring. Consideration is given to placing the loan or lease on non-accrual status, assessing the need for additional ALLL, and partial or full charge-off of the principal balance. The Company maintains the ALLL at a level that is considered adequate to cover the estimated inherent risks in the loan and lease portfolio.

The Company also maintains a separate reserve for unfunded loan commitments at a level that is considered adequate to cover the estimated inherent risks. The estimated funding of the loan commitments and credit risk factors determined based on outstanding loans that share similar credit risk exposure are used to determine the adequacy of the reserve. At March 31, 2018 and December 31, 2017, the reserve for unfunded loan commitments was $4.3 million and $3.7 million, respectively.

The credit risk monitoring system is designed to identify impaired and potential problem loans and to perform periodic evaluation of impairment and the adequacy of the allowance for credit losses in a timely manner. In addition, the Board of Directors of the Bank has adopted a credit policy that includes a credit review and control system that it believes should be effective in ensuring that the Company maintains an adequate allowance for loan and lease losses. The Board of Directors also provides oversight and guidance for management’s allowance evaluation process.

During the three months ended March 31, 2017, the Company, as part of its continuous evaluation of the ALLL methodology and assumptions, determined that it was appropriate to change from a rolling 28-quarter look-back period to a cumulative look-back period with a pegged (fixed) starting point (the quarter ended March 31, 2008). The Company believes that an extended period of observed credit loss stability warranted the review of a longer historical period that captured a full credit cycle. The Company further enhanced the methodology in the areas of qualitative adjustments and loan segmentation during the second quarter of 2017, and performed an annual update of the loss emergence period during the third quarter of 2017. These updates were designed to be systematic, transparent, and repeatable. The updates on qualitative adjustments and loan segmentation did not have a material impact.

The following table presents a summary of activity in the ALLL for the periods indicated:



	Three Months Ended March 31,
($ in thousands)	2018			2017
Balance at beginning of period	$	49,333		$	40,444
Loans and leases charged off	(14,639		)	(357		)
Recoveries of loans and leases previously charged off	570			66
Provision for loan and lease losses	19,499			2,583
Balance at end of period	$	54,763		$	42,736

During the three months ended March 31, 2018, the Company recorded a charge-off of $13.9 million, which reflected the outstanding balance under a $15.0 million line of credit that was originated during the three months ended March 31, 2018. Subsequent to the granting of the line of credit, representations from the borrower in applying for the line of credit were determined by the Bank to be false, and third party bank account statements provided by the borrower to secure the line of credit were found to be fraudulent. The line of credit was granted after the borrower appeared to have satisfied a pre-condition that the line of credit be fully cash collateralized and secured by a bank account at a third party financial institution pledged to the Bank. As part of the Bank’s credit review and portfolio management process, the line of credit and disbursements were reviewed subsequent to closing and compliance with the borrower’s covenants was monitored. As part of this process, on March 9, 2018, the Bank received information that caused it to believe the existence of the pledged bank account had been misrepresented by the borrower and that the account had previously been closed. Although the Bank plans to pursue any available sources of collection and other potential means of mitigating the loss, no assurance can be given that it will be successful in this regard. Upon extensive review of the underwriting process for this loan, the Bank determined that this loan was the result of an isolated event of external fraud.

The following table presents the activity and balance in the ALLL and the recorded investment, excluding accrued interest, in loans and leases based on the impairment methodology as of or for the three months ended March 31, 2018:



($ in thousands)	Commercial and Industrial			Commercial Real Estate		Multifamily		SBA			Construction			Lease Financing			Single Family Residential Mortgage			Other Consumer			Total
ALLL:
Balance at December 31, 2017	$	14,280		$	4,971	$	13,265	$	1,701		$	3,318		$	—		$	10,996		$	802		$	49,333
Charge-offs	(71		)	—		—		(381		)	—			—			(115		)	(14,072		)	(14,639		)
Recoveries	61			—		—		65			—			4			436			4			570
Provision	3,301			446		954		192			(98		)	(4		)	652			14,056			19,499
Balance at March 31, 2018	$	17,571		$	5,417	$	14,219	$	1,577		$	3,220		$	—		$	11,969		$	790		$	54,763
Individually evaluated for impairment	$	1,115		$	—	$	—	$	124		$	—		$	—		$	420		$	21		$	1,680
Collectively evaluated for impairment	16,456			5,417		14,219		1,453			3,220			—			11,549			769			53,083
Total ending ALLL balance	$	17,571		$	5,417	$	14,219	$	1,577		$	3,220		$	—		$	11,969		$	790		$	54,763
Loans:
Individually evaluated for impairment	$	5,265		$	—	$	—	$	359		$	—		$	—		$	19,667		$	766		$	26,057
Collectively evaluated for impairment	1,633,294			773,193		1,944,082		78,663			200,766			3			2,181,691			92,758			6,904,450
Total ending loan balances	$	1,638,559		$	773,193	$	1,944,082	$	79,022		$	200,766		$	3		$	2,201,358		$	93,524		$	6,930,507



($ in thousands)	Commercial and Industrial			Commercial Real Estate			Multifamily			SBA		Construction		Lease Financing			Single Family Residential Mortgage			Other Consumer			Total
ALLL:
Balance at December 31, 2016	$	7,584		$	5,467		$	11,376		$	939	$	2,015	$	6		$	12,075		$	982		$	40,444
Charge-offs	(250		)	—			—			—		—		—			(81		)	(26		)	(357		)
Recoveries	—			—			—			43		—		19			1			3			66
Provision	3,554			(924		)	(347		)	164		1,003		(20		)	(755		)	(92		)	2,583
Balance at March 31, 2017	$	10,888		$	4,543		$	11,029		$	1,146	$	3,018	$	5		$	11,240		$	867		$	42,736
Individually evaluated for impairment	$	—		$	—		$	—		$	—	$	—	$	—		$	250		$	—		$	250
Collectively evaluated for impairment	10,888			4,538			11,029			1,127		3,018		5			10,853			867			42,325
Acquired with deteriorated credit quality	—			5			—			19		—		—			137			—			161
Total ending ALLL balance	$	10,888		$	4,543		$	11,029		$	1,146	$	3,018	$	5		$	11,240		$	867		$	42,736
Loans:
Individually evaluated for impairment	$	—		$	—		$	—		$	—	$	1,528	$	—		$	10,984		$	883		$	13,395
Collectively evaluated for impairment	1,580,969			749,440			1,449,715			73,433		140,636		285			1,832,818			124,931			5,952,227
Acquired with deteriorated credit quality	4,687			1,152			—			2,607		—		—			131,253			—			139,699
Total ending loan balances	$	1,585,656		$	750,592		$	1,449,715		$	76,040	$	142,164	$	285		$	1,975,055		$	125,814		$	6,105,321

The following table presents loans and leases individually evaluated for impairment by class of loans and leases as of the dates indicated. The recorded investment, excluding accrued interest, presents customer balances net of any partial charge-offs recognized on the loans and leases and net of any deferred fees and costs and any purchase premium or discount.



	March 31, 2018						December 31, 2017
($ in thousands)	Unpaid Principal Balance		Recorded Investment		Allowance for Loan and Lease Losses		Unpaid Principal Balance		Recorded Investment		Allowance for Loan and Lease Losses
With no related ALLL recorded:
Commercial:
Commercial and industrial	$	4,187	$	4,150	$	—	$	471	$	453	$	—
SBA	237		235		—		342		335		—
Consumer:
Single family residential mortgage	5,822		5,842		—		7,521		7,553		—
Other consumer	294		294		—		4,664		4,663		—
With an ALLL recorded:
Commercial:
Commercial and industrial	1,115		1,115		1,115		3,146		3,129		498
SBA	137		124		124		635		609		435
Consumer:
Single family residential mortgage	13,739		13,825		420		7,090		7,146		277
Other consumer	496		472		21		157		162		7
Total	$	26,027	$	26,057	$	1,680	$	24,026	$	24,050	$	1,217

The following table presents information on impaired loans and leases, disaggregated by class, for the three months ended March 31, 2018 and 2017:



	Three Months Ended March 31,
	2018						2017
($ in thousands)	Average Recorded Investment		Interest Income Recognized		Cash Basis Interest Recognized		Average Recorded Investment		Interest Income Recognized		Cash Basis Interest Recognized
Commercial:
Commercial and industrial	$	5,333	$	3	$	3	$	—	$	—	$	—
SBA	373		—		—		—		—		—
Construction	—		—		—		1,528		—		—
Consumer:
Single family residential mortgage	19,715		57		49		11,055		43		43
Other consumer	749		3		2		889		2		1
Total	$	26,170	$	63	$	54	$	13,472	$	45	$	44

Past Due Loans and Leases

The following table presents the aging of the recorded investment in past due loans and leases as of dates indicated, excluding accrued interest receivable (which is not considered to be material), by class of loans and leases as of dates indicated:



($ in thousands)	30 - 59 Days Past Due		60 - 89 Days Past Due		Greater than 89 Days Past due		Total Past Due		Current		Total
March 31, 2018
NTM loans:
Single family residential mortgage	$	13,034	$	292	$	1,575	$	14,901	$	828,354	$	843,255
Other consumer	294		—		—		294		3,251		3,545
Total NTM loans	13,328		292		1,575		15,195		831,605		846,800
Traditional loans and leases:
Commercial:
Commercial and industrial	1,163		4,193		1,017		6,373		1,632,186		1,638,559
Commercial real estate	291		—		—		291		772,902		773,193
Multifamily	—		—		—		—		1,944,082		1,944,082
SBA	979		—		795		1,774		77,248		79,022
Construction	—		—		—		—		200,766		200,766
Lease financing	—		—		—		—		3		3
Consumer:
Single family residential mortgage	7,219		4,419		7,876		19,514		1,338,589		1,358,103
Other consumer	47		5		263		315		89,664		89,979
Total traditional loans and leases	9,699		8,617		9,951		28,267		6,055,440		6,083,707
Total	$	23,027	$	8,909	$	11,526	$	43,462	$	6,887,045	$	6,930,507
December 31, 2017
NTM loans:
Single family residential mortgage	$	9,060	$	1,879	$	1,171	$	12,110	$	791,245	$	803,355
Other consumer	—		—		—		—		3,578		3,578
Total NTM loans	9,060		1,879		1,171		12,110		794,823		806,933
Traditional loans and leases:
Commercial:
Commercial and industrial	136		3,595		948		4,679		1,697,272		1,701,951
Commercial real estate	—		—		—		—		717,415		717,415
Multifamily	—		—		—		—		1,816,141		1,816,141
SBA	3,578		—		1,319		4,897		73,802		78,699
Construction	—		—		—		—		182,960		182,960
Lease financing	—		—		—		—		13		13
Consumer:
Single family residential mortgage	6,862		3,370		6,012		16,244		1,236,050		1,252,294
Other consumer	3,194		413		92		3,699		99,302		103,001
Total traditional loans and leases	13,770		7,378		8,371		29,519		5,822,955		5,852,474
Total	$	22,830	$	9,257	$	9,542	$	41,629	$	6,617,778	$	6,659,407

Non-accrual Loans and Leases

The following table presents non-accrual loans and leases, and loans past due 90 days or more and still accruing as of the dates indicated:



	March 31, 2018						December 31, 2017
($ in thousands)	NTM Loans		Traditional Loans and Leases		Total		NTM Loans		Traditional Loans and Leases		Total
Non-accrual loans and leases ⁽¹⁾
Commercial:
Commercial and industrial	$	—	$	5,239	$	5,239	$	—	$	3,723	$	3,723
SBA	—		1,171		1,171		—		1,781		1,781
Consumer:
Single family residential mortgage	1,575		12,763		14,338		1,171		8,176		9,347
Other consumer	—		472		472		—		4,531		4,531
Total non-accrual loans and leases	$	1,575	$	19,645	$	21,220	$	1,171	$	18,211	$	19,382
Loans past due 90 days or more and still accruing	$	—	$	—	$	—	$	—	$	—	$	—

(1) The Company maintained ALLL individually evaluated for impairment for these loans of $1.6 million and $1.1 million at March 31, 2018 and December 31, 2017, respectively

Loans in Process of Foreclosure

At March 31, 2018 and December 31, 2017, SFR mortgage loans of $2.8 million and $4.3 million, respectively, were in the process of foreclosure.

Troubled Debt Restructurings

A modification of a loan constitutes a troubled debt restructuring (TDR) when the Company, for economic or legal reasons related to a borrower’s financial difficulties, grants a concession to the borrower that it would not otherwise consider. The concessions may be granted in various forms, including reduction in the stated interest rate, reduction in the amount of principal amortization, forgiveness of a portion of the loan balance or accrued interest, or extension of the maturity date. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy.

TDR loans consist of the following as of the dates indicated:



	March 31, 2018						December 31, 2017
($ in thousands)	NTM Loans		Traditional Loans		Total		NTM Loans		Traditional Loans		Total
Commercial:
Commercial and industrial	$	—	$	2,795	$	2,795	$	—	$	2,675	$	2,675
Consumer:
Single family residential mortgage	2,691		2,639		5,330		2,699		2,653		5,352
Other consumer	294		—		294		294		—		294
Total	$	2,985	$	5,434	$	8,419	$	2,993	$	5,328	$	8,321

The Company had no commitments to lend to customers with outstanding loans that were classified as TDRs as of March 31, 2018 or December 31, 2017.

The following table summarizes the pre-modification and post-modification balances of the new TDRs for the three months ended March 31, 2018 and 2017:



	Three Months Ended March 31,
	2018					2017
($ in thousands)	Number of Loans	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Loans	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Commercial:
Commercial and industrial	2	$	171	$	163	—	$	—	$	—
Consumer:
Single family residential mortgage	—	—		—		2	1,266		1,273
Total	2	$	171	$	163	2	$	1,266	$	1,273

The following table summarizes new TDRs by modification type for the three months ended March 31, 2018 and 2017:



	Three Months Ended
	Modification Type
	Change in Principal Payments and Interest Rates			Change in Principal Payments			Change in Interest Rates			Bankruptcy Discharges			Total
($ in thousands)	Count	Amount		Count	Amount		Count	Amount		Count	Amount		Count	Amount
March 31, 2018
Commercial:
Commercial and industrial	—	$	—	2	$	163	—	$	—	—	$	—	2	$	163
Total	—	$	—	2	$	163	—	$	—	—	—		2	$	163
March 31, 2017
Consumer:
Single family residential mortgage	1	$	130	1	$	1,143	—	$	—	—	—		2	$	1,273
Total	1	$	130	1	$	1,143	—	$	—	—	—		2	$	1,273

For the three months ended March 31, 2018, there was no loan that was modified as a TDR during the past 12 months that had payment defaults during the period. For the three months ended March 31, 2017, there was one loan with a principal balance of $124 thousand that was modified as TDRs during the past 12 months that had payment defaults during the period.

Credit Quality Indicators

The Company categorizes loans and leases into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company performs historical loss analysis that is combined with a comprehensive loan or lease to value analysis to analyze the associated risks in the current loan and lease portfolio. The Company analyzes loans and leases individually by classifying the loans and leases as to credit risk. This analysis includes all loans and leases delinquent over 60 days and non-homogeneous loans and leases such as commercial and commercial real estate loans and leases. The Company uses the following definitions for risk ratings:

Pass: Loans and leases classified as pass are in compliance in all respects with the Bank’s credit policy and regulatory requirements, and do not exhibit any potential or defined weakness as defined under “Special Mention”, “Substandard” or “Doubtful”.

Special Mention: Loans and leases classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or lease or of the Company’s credit position at some future date.

Substandard: Loans and leases classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans and leases so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful: Loans and leases classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

Loans and leases not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans and leases.

The following table presents the risk categories for total loans and leases as of dates indicated:



($ in thousands)	Pass		Special Mention		Substandard		Doubtful		Total
March 31, 2018
NTM loans:
Single family residential mortgage	$	839,811	$	1,577	$	1,867	$	—	$	843,255
Other consumer	3,545		—		—		—		3,545
Total NTM loans	843,356		1,577		1,867		—		846,800
Traditional loans and leases:
Commercial:
Commercial and industrial	1,585,874		7,019		45,666		—		1,638,559
Commercial real estate	768,952		—		4,241		—		773,193
Multifamily	1,942,456		536		1,090		—		1,944,082
SBA	72,273		1,831		4,638		280		79,022
Construction	200,766		—		—		—		200,766
Lease financing	3		—		—		—		3
Consumer:
Single family residential mortgage	1,343,107		2,234		12,762		—		1,358,103
Other consumer	89,169		320		490		—		89,979
Total traditional loans and leases	6,002,600		11,940		68,887		280		6,083,707
Total	$	6,845,956	$	13,517	$	70,754	$	280	$	6,930,507
December 31, 2017
NTM loans:
Single family residential mortgage	$	800,589	$	1,595	$	1,171	$	—	$	803,355
Other consumer	3,578		—		—		—		3,578
Total NTM loans	804,167		1,595		1,171		—		806,933
Traditional loans and leases:
Commercial:
Commercial and industrial	1,651,628		33,376		16,947		—		1,701,951
Commercial real estate	713,131		—		4,284		—		717,415
Multifamily	1,815,601		540		—		—		1,816,141
SBA	72,417		1,555		4,621		106		78,699
Construction	182,960		—		—		—		182,960
Lease financing	13		—		—		—		13
Consumer:
Single family residential mortgage	1,240,866		2,282		9,146		—		1,252,294
Other consumer	98,030		422		4,549		—		103,001
Total traditional loans and leases	5,774,646		38,175		39,547		106		5,852,474
Total	$	6,578,813	$	39,770	$	40,718	$	106	$	6,659,407

Purchases, Sales, and Transfers

The Company had no purchases or sales of loans and leases, excluding loans held-for-sale, for the three months ended March 31, 2018 and 2017. The following table presents loans and leases transferred from (to) loans held-for-sale by portfolio segment for the three months ended March 31, 2018 and 2017:



	Three Months Ended March 31,
	2018					2017
($ in thousands)	Transfers from Held-For-Sale		Transfers (to) Held-For-Sale			Transfers from Held-For-Sale		Transfers (to) Held-For-Sale
Commercial:
Multifamily	$	—	$	—		$	—	$	(6,583	)
Consumer:
Single family residential mortgage	—		(2,184		)	—		(236,510		)
Other consumer	—		(4,362		)	—		—
Total	$	—	$	(6,546	)	$	—	$	(243,093	)

Purchased Credit Impaired Loans

The Company had no PCI loans at March 31, 2018 or December 31, 2017, due mainly to the sale of seasoned SFR mortgage PCI loans during the year ended December 31, 2017. The Company had acquired loans through business combinations and purchases of loan pools for which there was evidence of deterioration of credit quality subsequent to origination and it was probable, at acquisition, that all contractually required payments would not be collected.

The following table presents a summary of accretable yield, or income expected to be collected, for the periods indicated:



	Three Months Ended March 31,
($ in thousands)	2018		2017
Balance at beginning of period	$	—	$	41,181
Accretion of income	—		(1,949		)
Changes in expected cash flows	—		(225		)
Disposals	—		(316		)
Balance at end of period	$	—	$	38,691

During the three months ended June 30, 2017, the Company transferred seasoned SFR mortgage PCI loans with an aggregate unpaid principal balance and aggregate carrying value of $147.5 million and $128.4 million, respectively, to loans held-for-sale. The Company transferred these PCI loans at lower of cost or fair value and recorded a fair value adjustment of $274 thousand against its ALLL. During the three months ended September 30, 2017, all of transferred seasoned SFR mortgage PCI loans were sold and the Company recognized a net gain on sale of loans of $3.7 million.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

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