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Loans and Leases (Tables) | 6 Months Ended
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Jun. 30, 2024
Receivables [Abstract] |
Schedule of composition of loans portfolio | The following table summarizes the composition of our loans and leases held for investment as of the dates indicated:
| June 30, |  | December 31,
| 2024 |  | 2023
| (In thousands)
Real estate mortgage | $ | 13,787,815 |  |  | $ | 16,378,537 |
Real estate construction and land (1) | 3,376,301 |  |  | 3,183,357 |
Commercial | 5,882,603 |  |  | 5,780,346 |
Consumer | 426,199 |  |  | 454,474 |
Total gross loans and leases held for investment | 23,472,918 |  |  | 25,796,714 |
Unearned discounts, net (2) | (217,621) |  |  | (261,984) |
Deferred fees, net | (26,388) |  |  | (45,043) |
Total loans and leases held for investment, net of unearned discounts and deferred fees | 23,228,909 |  |  | 25,489,687 |
Allowance for loan and lease losses | (247,762) |  |  | (281,687) |
Total loans and leases held for investment, net (3) | $ | 22,981,147 |  |  | $ | 25,208,000 |
____________________ (1) Includes land and acquisition and development loans of $213.6 million and $228.9 million at June 30, 2024 and December 31, 2023. (2) Represents net acquisition discounts of $284.3 million and purchase premiums of $66.7 million at June 30, 2024, and net acquisition discounts of $334.2 million and purchase premiums of $72.2 million at December 31, 2023. (3) Excludes accrued interest receivable of $109.2 million and $111.3 million at June 30, 2024 and December 31, 2023, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets.
Delinquent loans in loan portfolio | The following tables present an aging analysis of our loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated:
| June 30, 2024
| 30 - 89 |  | 90 or More |  |  |  |  |  |
| Days |  | Days |  | Total |  |  |  |
| Past Due |  | Past Due |  | Past Due |  | Current |  | Total
| (In thousands)
Real estate mortgage: |  |  |  |  |  |  |  |  |
Commercial | $ | 189 |  |  | $ | 28,424 |  |  | $ | 28,613 |  |  | $ | 4,693,972 |  |  | $ | 4,722,585 |
Multi-family | 227 |  |  | — |  |  | 227 |  |  | 5,984,703 |  |  | 5,984,930 |
Other residential | 20,184 |  |  | 19,095 |  |  | 39,279 |  |  | 2,826,806 |  |  | 2,866,085 |
Total real estate mortgage | 20,600 |  |  | 47,519 |  |  | 68,119 |  |  | 13,505,481 |  |  | 13,573,600 |
Real estate construction and land: |  |  |  |  |  |  |  |  |
Commercial | — |  |  | — |  |  | — |  |  | 784,166 |  |  | 784,166 |
Residential | — |  |  | — |  |  | — |  |  | 2,573,431 |  |  | 2,573,431 |
Total real estate construction and land | — |  |  | — |  |  | — |  |  | 3,357,597 |  |  | 3,357,597 |
Commercial: |  |  |  |  |  |  |  |  |
Asset-based | — |  |  | 1,613 |  |  | 1,613 |  |  | 1,967,100 |  |  | 1,968,713 |
Venture capital | 1,545 |  |  | — |  |  | 1,545 |  |  | 1,454,577 |  |  | 1,456,122 |
Other commercial | 3,269 |  |  | 5,977 |  |  | 9,246 |  |  | 2,437,728 |  |  | 2,446,974 |
Total commercial | 4,814 |  |  | 7,590 |  |  | 12,404 |  |  | 5,859,405 |  |  | 5,871,809 |
Consumer | 2,548 |  |  | 683 |  |  | 3,231 |  |  | 422,672 |  |  | 425,903 |
Total | $ | 27,962 |  |  | $ | 55,792 |  |  | $ | 83,754 |  |  | $ | 23,145,155 |  |  | $ | 23,228,909 |
| December 31, 2023
| 30 - 89 |  | 90 or More |  |  |  |  |  |
| Days |  | Days |  | Total |  |  |  |
| Past Due |  | Past Due |  | Past Due |  | Current |  | Total
| (In thousands)
Real estate mortgage: |  |  |  |  |  |  |  |  |
Commercial | $ | 12,618 |  |  | $ | 15,168 |  |  | $ | 27,786 |  |  | $ | 4,998,711 |  |  | $ | 5,026,497 |
Multi-family | 2,302 |  |  | 1,020 |  |  | 3,322 |  |  | 6,021,857 |  |  | 6,025,179 |
Other residential | 93,042 |  |  | 4,341 |  |  | 97,383 |  |  | 4,962,926 |  |  | 5,060,309 |
Total real estate mortgage | 107,962 |  |  | 20,529 |  |  | 128,491 |  |  | 15,983,494 |  |  | 16,111,985 |
Real estate construction and land: |  |  |  |  |  |  |  |  |
Commercial | — |  |  | — |  |  | — |  |  | 759,585 |  |  | 759,585 |
Residential | — |  |  | — |  |  | — |  |  | 2,399,684 |  |  | 2,399,684 |
Total real estate construction and land | — |  |  | — |  |  | — |  |  | 3,159,269 |  |  | 3,159,269 |
Commercial: |  |  |  |  |  |  |  |  |
Asset-based | 608 |  |  | 2,689 |  |  | 3,297 |  |  | 2,185,788 |  |  | 2,189,085 |
Venture capital | — |  |  | — |  |  | — |  |  | 1,446,362 |  |  | 1,446,362 |
Other commercial | 1,276 |  |  | 6,993 |  |  | 8,269 |  |  | 2,121,591 |  |  | 2,129,860 |
Total commercial | 1,884 |  |  | 9,682 |  |  | 11,566 |  |  | 5,753,741 |  |  | 5,765,307 |
Consumer | 3,461 |  |  | 670 |  |  | 4,131 |  |  | 448,995 |  |  | 453,126 |
Total | $ | 113,307 |  |  | $ | 30,881 |  |  | $ | 144,188 |  |  | $ | 25,345,499 |  |  | $ | 25,489,687 |
Financing Receivable, Nonaccrual | The following table presents our nonaccrual and performing loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated:
| June 30, 2024 |  | December 31, 2023
| Nonaccrual |  | Performing |  | Total |  | Nonaccrual |  | Performing |  | Total
| (In thousands)
Real estate mortgage: |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 62,498 |  |  | $ | 4,660,087 |  |  | $ | 4,722,585 |  |  | $ | 15,669 |  |  | $ | 5,010,828 |  |  | $ | 5,026,497 |
Multi-family | 934 |  |  | 5,983,996 |  |  | 5,984,930 |  |  | 1,020 |  |  | 6,024,159 |  |  | 6,025,179 |
Other residential | 31,832 |  |  | 2,834,253 |  |  | 2,866,085 |  |  | 31,041 |  |  | 5,029,268 |  |  | 5,060,309 |
Total real estate mortgage | 95,264 |  |  | 13,478,336 |  |  | 13,573,600 |  |  | 47,730 |  |  | 16,064,255 |  |  | 16,111,985 |
Real estate construction and land: |  |  |  |  |  |  |  |  |  |  |
Commercial | — |  |  | 784,166 |  |  | 784,166 |  |  | — |  |  | 759,585 |  |  | 759,585 |
Residential | — |  |  | 2,573,431 |  |  | 2,573,431 |  |  | — |  |  | 2,399,684 |  |  | 2,399,684 |
Total real estate construction and land | — |  |  | 3,357,597 |  |  | 3,357,597 |  |  | — |  |  | 3,159,269 |  |  | 3,159,269 |
Commercial: |  |  |  |  |  |  |  |  |  |  |
Asset-based | 8,081 |  |  | 1,960,632 |  |  | 1,968,713 |  |  | 2,689 |  |  | 2,186,396 |  |  | 2,189,085 |
Venture capital | — |  |  | 1,456,122 |  |  | 1,456,122 |  |  | 325 |  |  | 1,446,037 |  |  | 1,446,362 |
Other commercial | 12,925 |  |  | 2,434,049 |  |  | 2,446,974 |  |  | 10,972 |  |  | 2,118,888 |  |  | 2,129,860 |
Total commercial | 21,006 |  |  | 5,850,803 |  |  | 5,871,809 |  |  | 13,986 |  |  | 5,751,321 |  |  | 5,765,307 |
Consumer | 800 |  |  | 425,103 |  |  | 425,903 |  |  | 811 |  |  | 452,315 |  |  | 453,126 |
Total | $ | 117,070 |  |  | $ | 23,111,839 |  |  | $ | 23,228,909 |  |  | $ | 62,527 |  |  | $ | 25,427,160 |  |  | $ | 25,489,687 |
CV of loans held for investment by class by performing and nonperforming | The following tables present the credit risk rating categories for loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated. Classified loans and leases are those with a credit risk rating of either substandard or doubtful.
| June 30, 2024
| Classified |  | Special Mention |  | Pass |  | Total
| (In thousands)
Real estate mortgage: |  |  |  |  |  |  |
Commercial | $ | 188,537 |  |  | $ | 273,747 |  |  | $ | 4,260,301 |  |  | $ | 4,722,585 |
Multi-family | 114,583 |  |  | 54,893 |  |  | 5,815,454 |  |  | 5,984,930 |
Other residential | 51,965 |  |  | 21,412 |  |  | 2,792,708 |  |  | 2,866,085 |
Total real estate mortgage | 355,085 |  |  | 350,052 |  |  | 12,868,463 |  |  | 13,573,600 |
Real estate construction and land: |  |  |  |  |  |  |
Commercial | — |  |  | 107,424 |  |  | 676,742 |  |  | 784,166 |
Residential | — |  |  | 3,350 |  |  | 2,570,081 |  |  | 2,573,431 |
Total real estate construction and land | — |  |  | 110,774 |  |  | 3,246,823 |  |  | 3,357,597 |
Commercial: |  |  |  |  |  |  |
Asset-based | 13,644 |  |  | 9,029 |  |  | 1,946,040 |  |  | 1,968,713 |
Venture capital | 20,278 |  |  | 189,016 |  |  | 1,246,828 |  |  | 1,456,122 |
Other commercial | 25,601 |  |  | 14,684 |  |  | 2,406,689 |  |  | 2,446,974 |
Total commercial | 59,523 |  |  | 212,729 |  |  | 5,599,557 |  |  | 5,871,809 |
Consumer | 890 |  |  | 7,108 |  |  | 417,905 |  |  | 425,903 |
Total | $ | 415,498 |  |  | $ | 680,663 |  |  | $ | 22,132,748 |  |  | $ | 23,228,909 |
| December 31, 2023
| Classified |  | Special Mention |  | Pass |  | Total
| (In thousands)
Real estate mortgage: |  |  |  |  |  |  |
Commercial | $ | 75,739 |  |  | $ | 219,687 |  |  | $ | 4,731,071 |  |  | $ | 5,026,497 |
Multi-family | 74,954 |  |  | 108,356 |  |  | 5,841,869 |  |  | 6,025,179 |
Other residential | 38,155 |  |  | 54,197 |  |  | 4,967,957 |  |  | 5,060,309 |
Total real estate mortgage | 188,848 |  |  | 382,240 |  |  | 15,540,897 |  |  | 16,111,985 |
Real estate construction and land: |  |  |  |  |  |  |
Commercial | — |  |  | — |  |  | 759,585 |  |  | 759,585 |
Residential | — |  |  | 2,757 |  |  | 2,396,927 |  |  | 2,399,684 |
Total real estate construction and land | — |  |  | 2,757 |  |  | 3,156,512 |  |  | 3,159,269 |
Commercial: |  |  |  |  |  |  |
Asset-based | 4,561 |  |  | 12,506 |  |  | 2,172,018 |  |  | 2,189,085 |
Venture capital | 7,805 |  |  | 98,633 |  |  | 1,339,924 |  |  | 1,446,362 |
Other commercial | 26,044 |  |  | 9,984 |  |  | 2,093,832 |  |  | 2,129,860 |
Total commercial | 38,410 |  |  | 121,123 |  |  | 5,605,774 |  |  | 5,765,307 |
Consumer | 1,159 |  |  | 7,192 |  |  | 444,775 |  |  | 453,126 |
Total | $ | 228,417 |  |  | $ | 513,312 |  |  | $ | 24,747,958 |  |  | $ | 25,489,687 |
Finance Receivable Investment And Interest Income, Nonaccrual | The following table presents our nonaccrual loans and leases by loan portfolio segment and class and by with and without an allowance recorded as of the date indicated and interest income recognized on nonaccrual loans and leases for the periods indicated:
|  |  | Three Months |  | Six Months |  |  |  | Three Months |  | Six Months
|  |  | Ended |  | Ended |  |  |  | Ended |  | Ended
| June 30, |  | June 30, |  | June 30, |  | June 30, |  | June 30, |  | June 30,
| 2024 |  | 2024 |  | 2024 |  | 2023 |  | 2023 |  | 2023
| Nonaccrual |  | Interest |  | Interest |  | Nonaccrual |  | Interest |  | Interest
| Recorded |  | Income |  | Income |  | Recorded |  | Income |  | Income
| Investment |  | Recognized |  | Recognized |  | Investment |  | Recognized |  | Recognized
| (In thousands)
With An Allowance Recorded: |  |  |  |  |  |  |  |  |  |  |
Real estate mortgage: |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 210 |  |  | $ | — |  |  | $ | — |  |  | $ | 57 |  |  | $ | — |  |  | $ | — |
Multi-family | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other residential | 283 |  |  | — |  |  | — |  |  | 396 |  |  | — |  |  | — |
Real estate construction and land: |  |  |  |  |  |  |  |  |  |  |
Commercial | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Residential | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial: |  |  |  |  |  |  |  |  |  |  |
Asset-based | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Venture capital | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other commercial | 1,714 |  |  | — |  |  | — |  |  | 738 |  |  | — |  |  | — |
Consumer | 800 |  |  | — |  |  | — |  |  | 205 |  |  | — |  |  | — |
With No Related Allowance |  |  |  |  |  |  |  |  |  |  |
Recorded: |  |  |  |  |  |  |  |  |  |  |
Real estate mortgage: |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 62,288 |  |  | $ | 4 |  |  | $ | 8 |  |  | $ | 37,134 |  |  | $ | 104 |  |  | $ | 107 |
Multi-family | 934 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other residential | 31,549 |  |  | — |  |  | — |  |  | 63,230 |  |  | — |  |  | — |
Real estate construction and land: |  |  |  |  |  |  |  |  |  |  |
Commercial | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Residential | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial: |  |  |  |  |  |  |  |  |  |  |
Asset-based | 8,081 |  |  | — |  |  | — |  |  | 385 |  |  | — |  |  | — |
Venture capital | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other commercial | 11,211 |  |  | 45 |  |  | 45 |  |  | 2,741 |  |  | — |  |  | — |
Consumer | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Loans and Leases With and |  |  |  |  |  |  |  |  |  |  |
Without an Allowance Recorded: |  |  |  |  |  |  |  |  |  |  |
Real estate mortgage | $ | 95,264 |  |  | $ | 4 |  |  | $ | 8 |  |  | $ | 100,817 |  |  | $ | 104 |  |  | $ | 107 |
Real estate construction and land | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial | 21,006 |  |  | 45 |  |  | 45 |  |  | 3,864 |  |  | — |  |  | — |
Consumer | 800 |  |  | — |  |  | — |  |  | 205 |  |  | — |  |  | — |
Total | $ | 117,070 |  |  | $ | 49 |  |  | $ | 53 |  |  | $ | 104,886 |  |  | $ | 104 |  |  | $ | 107 |
Finance Receivable, Loans By Origination Year | The following tables present our loans held for investment by loan portfolio segment and class, by credit quality indicator (internal risk ratings), and by year of origination (vintage year) as of the dates indicated:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Converted |  |
Amortized Cost Basis (1) | Term Loans by Origination Year |  | Revolving |  | to Term |  |
June 30, 2024 | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Loans |  | Loans |  | Total
| (In thousands)
Real Estate Mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-2 High pass | $ | 2,517 |  |  | $ | — |  |  | $ | 28,367 |  |  | $ | 22,647 |  |  | $ | 13,704 |  |  | $ | 102,288 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 169,524 |
3-4.5 Pass | 86,983 |  |  | 173,183 |  |  | 850,359 |  |  | 755,651 |  |  | 500,349 |  |  | 1,629,686 |  |  | 62,200 |  |  | 32,366 |  |  | 4,090,777 |
5 Special mention | — |  |  | — |  |  | 74,465 |  |  | 12,514 |  |  | 724 |  |  | 184,938 |  |  | 1,106 |  |  | — |  |  | 273,747 |
6-8 Classified | — |  |  | 711 |  |  | 5,518 |  |  | 64,278 |  |  | 17,267 |  |  | 99,513 |  |  | 1,250 |  |  | — |  |  | 188,537 |
Total | $ | 89,500 |  |  | $ | 173,894 |  |  | $ | 958,709 |  |  | $ | 855,090 |  |  | $ | 532,044 |  |  | $ | 2,016,425 |  |  | $ | 64,557 |  |  | $ | 32,366 |  |  | $ | 4,722,585 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | — |  |  | $ | 175 |  |  | $ | 9,958 |  |  | $ | 9,714 |  |  | $ | 1,036 |  |  | $ | — |  |  | $ | — |  |  | $ | 20,883 |
Real Estate Mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-2 High pass | $ | — |  |  | $ | — |  |  | $ | 51,071 |  |  | $ | 199,549 |  |  | $ | 79,761 |  |  | $ | 152,870 |  |  | $ | — |  |  | $ | — |  |  | $ | 483,251 |
3-4.5 Pass | 57,539 |  |  | 85,143 |  |  | 2,171,433 |  |  | 1,134,874 |  |  | 504,063 |  |  | 1,319,665 |  |  | 11,486 |  |  | 48,000 |  |  | 5,332,203 |
5 Special mention | — |  |  | — |  |  | — |  |  | 4,944 |  |  | 3,307 |  |  | 46,642 |  |  | — |  |  | — |  |  | 54,893 |
6-8 Classified | — |  |  | — |  |  | 40,019 |  |  | 17,283 |  |  | 8,528 |  |  | 48,753 |  |  | — |  |  | — |  |  | 114,583 |
Total | $ | 57,539 |  |  | $ | 85,143 |  |  | $ | 2,262,523 |  |  | $ | 1,356,650 |  |  | $ | 595,659 |  |  | $ | 1,567,930 |  |  | $ | 11,486 |  |  | $ | 48,000 |  |  | $ | 5,984,930 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Real Estate Mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-2 High pass | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6,597 |  |  | $ | — |  |  | $ | 6,597 |
3-4.5 Pass | — |  |  | 8,930 |  |  | 348,749 |  |  | 2,316,284 |  |  | 40,367 |  |  | 19,849 |  |  | 51,856 |  |  | 76 |  |  | 2,786,111 |
5 Special mention | — |  |  | 1,070 |  |  | 11,045 |  |  | 8,916 |  |  | — |  |  | 281 |  |  | 100 |  |  | — |  |  | 21,412 |
6-8 Classified | — |  |  | 2,809 |  |  | 29,350 |  |  | 17,827 |  |  | — |  |  | 1,689 |  |  | 257 |  |  | 33 |  |  | 51,965 |
Total | $ | — |  |  | $ | 12,809 |  |  | $ | 389,144 |  |  | $ | 2,343,027 |  |  | $ | 40,367 |  |  | $ | 21,819 |  |  | $ | 58,810 |  |  | $ | 109 |  |  | $ | 2,866,085 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | 3,355 |  |  | $ | 25,389 |  |  | $ | 6,381 |  |  | $ | 350 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 35,475 |
____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Converted |  |
Amortized Cost Basis (1) | Term Loans by Origination Year |  | Revolving |  | to Term |  |
June 30, 2024 | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Loans |  | Loans |  | Total
| (In thousands)
Real Estate Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
and Land: Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-2 High pass | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
3-4.5 Pass | 10,712 |  |  | 29,185 |  |  | 423,956 |  |  | 119,502 |  |  | 59,802 |  |  | 10,635 |  |  | 22,950 |  |  | — |  |  | 676,742 |
5 Special mention | — |  |  | — |  |  | — |  |  | 107,424 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 107,424 |
6-8 Classified | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 10,712 |  |  | $ | 29,185 |  |  | $ | 423,956 |  |  | $ | 226,926 |  |  | $ | 59,802 |  |  | $ | 10,635 |  |  | $ | 22,950 |  |  | $ | — |  |  | $ | 784,166 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Real Estate Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
and Land: Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-2 High pass | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
3-4.5 Pass | 64,193 |  |  | 123,032 |  |  | 1,370,102 |  |  | 636,650 |  |  | 241,695 |  |  | 27,064 |  |  | 107,345 |  |  | — |  |  | 2,570,081 |
5 Special mention | — |  |  | — |  |  | — |  |  | 3,350 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,350 |
6-8 Classified | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 64,193 |  |  | $ | 123,032 |  |  | $ | 1,370,102 |  |  | $ | 640,000 |  |  | $ | 241,695 |  |  | $ | 27,064 |  |  | $ | 107,345 |  |  | $ | — |  |  | $ | 2,573,431 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial: Asset-Based |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-2 High pass | $ | 30,375 |  |  | $ | 48,684 |  |  | $ | 218,109 |  |  | $ | 235,078 |  |  | $ | 30,010 |  |  | $ | 281,592 |  |  | $ | 131,466 |  |  | $ | — |  |  | $ | 975,314 |
3-4.5 Pass | 3,426 |  |  | 95,643 |  |  | 199,627 |  |  | 94,603 |  |  | 11,327 |  |  | 30,660 |  |  | 525,308 |  |  | 10,132 |  |  | 970,726 |
5 Special mention | — |  |  | — |  |  | 25 |  |  | — |  |  | — |  |  | 1 |  |  | 9,003 |  |  | — |  |  | 9,029 |
6-8 Classified | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 13,644 |  |  | — |  |  | 13,644 |
Total | $ | 33,801 |  |  | $ | 144,327 |  |  | $ | 417,761 |  |  | $ | 329,681 |  |  | $ | 41,337 |  |  | $ | 312,253 |  |  | $ | 679,421 |  |  | $ | 10,132 |  |  | $ | 1,968,713 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 92 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 92 |
Commercial: Venture |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-2 High pass | $ | (34) |  |  | $ | (115) |  |  | $ | (4) |  |  | $ | — |  |  | $ | 1,999 |  |  | $ | — |  |  | $ | 241,262 |  |  | $ | 1,477 |  |  | $ | 244,585 |
3-4.5 Pass | 44,143 |  |  | 81,444 |  |  | 60,675 |  |  | 85,317 |  |  | 4,779 |  |  | 19,793 |  |  | 638,233 |  |  | 67,859 |  |  | 1,002,243 |
5 Special mention | — |  |  | 61,453 |  |  | 28,840 |  |  | 31,942 |  |  | — |  |  | — |  |  | 66,781 |  |  | — |  |  | 189,016 |
6-8 Classified | — |  |  | — |  |  | 13,726 |  |  | 6,552 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 20,278 |
Total | $ | 44,109 |  |  | $ | 142,782 |  |  | $ | 103,237 |  |  | $ | 123,811 |  |  | $ | 6,778 |  |  | $ | 19,793 |  |  | $ | 946,276 |  |  | $ | 69,336 |  |  | $ | 1,456,122 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | 2,272 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | 140 |  |  | $ | — |  |  | $ | 2,414 |
____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Converted |  |
Amortized Cost Basis (1) | Term Loans by Origination Year |  | Revolving |  | to Term |  |
June 30, 2024 | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Loans |  | Loans |  | Total
| (In thousands)
Commercial: Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-2 High pass | $ | 708 |  |  | $ | 748 |  |  | $ | 3,933 |  |  | $ | 4,884 |  |  | $ | 64 |  |  | $ | 1,267 |  |  | $ | 59,850 |  |  | $ | — |  |  | $ | 71,454 |
3-4.5 Pass | 129,883 |  |  | 88,690 |  |  | 149,923 |  |  | 267,503 |  |  | 44,987 |  |  | 168,825 |  |  | 1,482,651 |  |  | 2,773 |  |  | 2,335,235 |
5 Special mention | — |  |  | 92 |  |  | 579 |  |  | 260 |  |  | 656 |  |  | 4,481 |  |  | 8,557 |  |  | 59 |  |  | 14,684 |
6-8 Classified | — |  |  | — |  |  | 2,545 |  |  | 3,503 |  |  | 1,351 |  |  | 16,823 |  |  | 364 |  |  | 1,015 |  |  | 25,601 |
Total | $ | 130,591 |  |  | $ | 89,530 |  |  | $ | 156,980 |  |  | $ | 276,150 |  |  | $ | 47,058 |  |  | $ | 191,396 |  |  | $ | 1,551,422 |  |  | $ | 3,847 |  |  | $ | 2,446,974 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | — |  |  | $ | 32 |  |  | $ | 287 |  |  | $ | — |  |  | $ | 202 |  |  | $ | 825 |  |  | $ | — |  |  | $ | 1,346 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-2 High pass | $ | — |  |  | $ | — |  |  | $ | 24 |  |  | $ | 19 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 1,684 |  |  | $ | — |  |  | $ | 1,729 |
3-4.5 Pass | 15,879 |  |  | 23,410 |  |  | 63,677 |  |  | 192,289 |  |  | 20,822 |  |  | 93,638 |  |  | 6,179 |  |  | 282 |  |  | 416,176 |
5 Special mention | — |  |  | — |  |  | 1,481 |  |  | 3,507 |  |  | 501 |  |  | 1,619 |  |  | — |  |  | — |  |  | 7,108 |
6-8 Classified | — |  |  | — |  |  | 50 |  |  | 460 |  |  | 33 |  |  | 334 |  |  | — |  |  | 13 |  |  | 890 |
Total | $ | 15,879 |  |  | $ | 23,410 |  |  | $ | 65,232 |  |  | $ | 196,275 |  |  | $ | 21,358 |  |  | $ | 95,591 |  |  | $ | 7,863 |  |  | $ | 295 |  |  | $ | 425,903 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | 45 |  |  | $ | 514 |  |  | $ | 1,198 |  |  | $ | 298 |  |  | $ | 819 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,874 |
Total Loans and Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-2 High pass | $ | 33,566 |  |  | $ | 49,317 |  |  | $ | 301,500 |  |  | $ | 462,177 |  |  | $ | 125,540 |  |  | $ | 538,017 |  |  | $ | 440,860 |  |  | $ | 1,477 |  |  | $ | 1,952,454 |
3-4.5 Pass | 412,758 |  |  | 708,660 |  |  | 5,638,501 |  |  | 5,602,673 |  |  | 1,428,191 |  |  | 3,319,815 |  |  | 2,908,208 |  |  | 161,488 |  |  | 20,180,294 |
5 Special mention | — |  |  | 62,615 |  |  | 116,435 |  |  | 172,857 |  |  | 5,188 |  |  | 237,962 |  |  | 85,547 |  |  | 59 |  |  | 680,663 |
6-8 Classified | — |  |  | 3,520 |  |  | 91,208 |  |  | 109,903 |  |  | 27,179 |  |  | 167,112 |  |  | 15,515 |  |  | 1,061 |  |  | 415,498 |
Total | $ | 446,324 |  |  | $ | 824,112 |  |  | $ | 6,147,644 |  |  | $ | 6,347,610 |  |  | $ | 1,586,098 |  |  | $ | 4,262,906 |  |  | $ | 3,450,130 |  |  | $ | 164,085 |  |  | $ | 23,228,909 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | 5,672 |  |  | $ | 26,110 |  |  | $ | 17,824 |  |  | $ | 10,454 |  |  | $ | 2,059 |  |  | $ | 965 |  |  | $ | — |  |  | $ | 63,084 |
______________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Converted |  |
Amortized Cost Basis (1) | Term Loans by Origination Year |  | Revolving |  | to Term |  |
December 31, 2023 | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Loans |  | Loans |  | Total
| (In thousands)
Real Estate Mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-3 High pass | $ | — |  |  | $ | 16,976 |  |  | $ | 17,432 |  |  | $ | 16,832 |  |  | $ | 17,337 |  |  | $ | 69,205 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 137,783 |
4-6 Pass | 182,236 |  |  | 933,294 |  |  | 814,564 |  |  | 510,952 |  |  | 298,985 |  |  | 1,765,454 |  |  | 76,866 |  |  | 10,937 |  |  | 4,593,288 |
7 Special mention | — |  |  | 14,021 |  |  | 32,235 |  |  | 25,485 |  |  | 17,147 |  |  | 129,549 |  |  | 1,250 |  |  | — |  |  | 219,687 |
8-9 Classified | 749 |  |  | — |  |  | 26,172 |  |  | 439 |  |  | 17,063 |  |  | 29,566 |  |  | 1,750 |  |  | — |  |  | 75,739 |
Total | $ | 182,985 |  |  | $ | 964,291 |  |  | $ | 890,403 |  |  | $ | 553,708 |  |  | $ | 350,532 |  |  | $ | 1,993,774 |  |  | $ | 79,867 |  |  | $ | 10,937 |  |  | $ | 5,026,497 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | 34 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 76 |  |  | $ | 14,185 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,295 |
Real Estate Mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-3 High pass | $ | — |  |  | $ | 28,155 |  |  | $ | 140,424 |  |  | $ | 58,959 |  |  | $ | 57,988 |  |  | $ | 109,423 |  |  | $ | — |  |  | $ | — |  |  | $ | 394,949 |
4-6 Pass | 66,143 |  |  | 2,221,235 |  |  | 1,193,052 |  |  | 539,660 |  |  | 564,420 |  |  | 794,599 |  |  | 67,811 |  |  | — |  |  | 5,446,920 |
7 Special mention | — |  |  | 2,610 |  |  | 17,784 |  |  | 12,201 |  |  | 39,808 |  |  | 35,953 |  |  | — |  |  | — |  |  | 108,356 |
8-9 Classified | — |  |  | — |  |  | 17,283 |  |  | 8,576 |  |  | 26,543 |  |  | 22,552 |  |  | — |  |  | — |  |  | 74,954 |
Total | $ | 66,143 |  |  | $ | 2,252,000 |  |  | $ | 1,368,543 |  |  | $ | 619,396 |  |  | $ | 688,759 |  |  | $ | 962,527 |  |  | $ | 67,811 |  |  | $ | — |  |  | $ | 6,025,179 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Real Estate Mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-3 High pass | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6,769 |  |  | $ | — |  |  | $ | 6,769 |
4-6 Pass | 188,561 |  |  | 1,824,253 |  |  | 2,812,293 |  |  | 65,230 |  |  | — |  |  | 19,518 |  |  | 51,246 |  |  | 87 |  |  | 4,961,188 |
7 Special mention | — |  |  | 46,263 |  |  | 7,568 |  |  | — |  |  | — |  |  | — |  |  | 366 |  |  | — |  |  | 54,197 |
8-9 Classified | 3,847 |  |  | 18,263 |  |  | 12,908 |  |  | 1,223 |  |  | — |  |  | 1,764 |  |  | 65 |  |  | 85 |  |  | 38,155 |
Total | $ | 192,408 |  |  | $ | 1,888,779 |  |  | $ | 2,832,769 |  |  | $ | 66,453 |  |  | $ | — |  |  | $ | 21,282 |  |  | $ | 58,446 |  |  | $ | 172 |  |  | $ | 5,060,309 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | 3,402 |  |  | $ | 23,544 |  |  | $ | 5,385 |  |  | $ | 740 |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | 33,075 |
____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Converted |  |
Amortized Cost Basis (1) | Term Loans by Origination Year |  | Revolving |  | to Term |  |
December 31, 2023 | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Loans |  | Loans |  | Total
| (In thousands)
Real Estate Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
and Land: Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-3 High pass | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
4-6 Pass | 23,916 |  |  | 388,165 |  |  | 214,303 |  |  | 68,833 |  |  | 16,781 |  |  | 27,175 |  |  | 20,412 |  |  | — |  |  | 759,585 |
7 Special mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
8-9 Classified | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 23,916 |  |  | $ | 388,165 |  |  | $ | 214,303 |  |  | $ | 68,833 |  |  | $ | 16,781 |  |  | $ | 27,175 |  |  | $ | 20,412 |  |  | $ | — |  |  | $ | 759,585 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Real Estate Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
and Land: Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-3 High pass | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
4-6 Pass | 64,341 |  |  | 1,185,297 |  |  | 668,083 |  |  | 336,636 |  |  | — |  |  | 26,896 |  |  | 115,674 |  |  | — |  |  | 2,396,927 |
7 Special mention | — |  |  | — |  |  | 2,757 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,757 |
8-9 Classified | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 64,341 |  |  | $ | 1,185,297 |  |  | $ | 670,840 |  |  | $ | 336,636 |  |  | $ | — |  |  | $ | 26,896 |  |  | $ | 115,674 |  |  | $ | — |  |  | $ | 2,399,684 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial: Asset-Based |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-3 High pass | $ | 32,485 |  |  | $ | 237,936 |  |  | $ | 223,088 |  |  | $ | 39,380 |  |  | $ | 119,364 |  |  | $ | 254,638 |  |  | $ | 89,667 |  |  | $ | — |  |  | $ | 996,558 |
4-6 Pass | 122,064 |  |  | 238,206 |  |  | 132,449 |  |  | 17,823 |  |  | 7,447 |  |  | 25,945 |  |  | 630,073 |  |  | 1,453 |  |  | 1,175,460 |
7 Special mention | — |  |  | 101 |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 12,394 |  |  | 10 |  |  | 12,506 |
8-9 Classified | — |  |  | — |  |  | — |  |  | 701 |  |  | — |  |  | 340 |  |  | 3,520 |  |  | — |  |  | 4,561 |
Total | $ | 154,549 |  |  | $ | 476,243 |  |  | $ | 355,537 |  |  | $ | 57,904 |  |  | $ | 126,811 |  |  | $ | 280,924 |  |  | $ | 735,654 |  |  | $ | 1,463 |  |  | $ | 2,189,085 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 60 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 150 |  |  | $ | 210 |
Commercial: Venture |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-3 High pass | $ | (84) |  |  | $ | (7) |  |  | $ | — |  |  | $ | 1,998 |  |  | $ | — |  |  | $ | (3) |  |  | $ | 136,339 |  |  | $ | (140) |  |  | $ | 138,103 |
4-6 Pass | 101,038 |  |  | 128,485 |  |  | 113,183 |  |  | 6,473 |  |  | 6,216 |  |  | 622 |  |  | 770,941 |  |  | 74,863 |  |  | 1,201,821 |
7 Special mention | 17,481 |  |  | 10,984 |  |  | 31,928 |  |  | — |  |  | 19,986 |  |  | — |  |  | 13,260 |  |  | 4,994 |  |  | 98,633 |
8-9 Classified | — |  |  | — |  |  | 7,808 |  |  | — |  |  | — |  |  | — |  |  | (3) |  |  | — |  |  | 7,805 |
Total | $ | 118,435 |  |  | $ | 139,462 |  |  | $ | 152,919 |  |  | $ | 8,471 |  |  | $ | 26,202 |  |  | $ | 619 |  |  | $ | 920,537 |  |  | $ | 79,717 |  |  | $ | 1,446,362 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | 2,245 |  |  | $ | 2,759 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 9 |  |  | $ | — |  |  | $ | 5,013 |
____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | Converted |  |
Amortized Cost Basis (1) | Term Loans by Origination Year |  | Revolving |  | to Term |  |
December 31, 2023 | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Loans |  | Loans |  | Total
| (In thousands)
Commercial: Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-3 High pass | $ | 815 |  |  | $ | 4,350 |  |  | $ | 5,216 |  |  | $ | 130 |  |  | $ | 29 |  |  | $ | 2,148 |  |  | $ | 66,827 |  |  | $ | — |  |  | $ | 79,515 |
4-6 Pass | 98,643 |  |  | 201,215 |  |  | 285,249 |  |  | 50,582 |  |  | 39,951 |  |  | 158,810 |  |  | 1,176,946 |  |  | 2,921 |  |  | 2,014,317 |
7 Special mention | 1,748 |  |  | 1,306 |  |  | 442 |  |  | 554 |  |  | 540 |  |  | 5,071 |  |  | 254 |  |  | 69 |  |  | 9,984 |
8-9 Classified | — |  |  | 912 |  |  | 4,011 |  |  | 1,706 |  |  | 1,299 |  |  | 13,768 |  |  | 3,257 |  |  | 1,091 |  |  | 26,044 |
Total | $ | 101,206 |  |  | $ | 207,783 |  |  | $ | 294,918 |  |  | $ | 52,972 |  |  | $ | 41,819 |  |  | $ | 179,797 |  |  | $ | 1,247,284 |  |  | $ | 4,081 |  |  | $ | 2,129,860 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | 6,867 |  |  | $ | 24 |  |  | $ | — |  |  | $ | 28 |  |  | $ | 75 |  |  | $ | 1,013 |  |  | $ | 431 |  |  | $ | 8,438 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-3 High pass | $ | — |  |  | $ | 27 |  |  | $ | 22 |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,304 |  |  | $ | — |  |  | $ | 1,357 |
4-6 Pass | 26,468 |  |  | 71,523 |  |  | 207,751 |  |  | 23,390 |  |  | 42,338 |  |  | 63,919 |  |  | 7,684 |  |  | 345 |  |  | 443,418 |
7 Special mention | — |  |  | 1,286 |  |  | 4,224 |  |  | 371 |  |  | 1,100 |  |  | 181 |  |  | 30 |  |  | — |  |  | 7,192 |
8-9 Classified | — |  |  | 281 |  |  | 42 |  |  | 135 |  |  | 198 |  |  | 486 |  |  | 1 |  |  | 16 |  |  | 1,159 |
Total | $ | 26,468 |  |  | $ | 73,117 |  |  | $ | 212,039 |  |  | $ | 23,900 |  |  | $ | 43,636 |  |  | $ | 64,586 |  |  | $ | 9,019 |  |  | $ | 361 |  |  | $ | 453,126 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | — |  |  | $ | 432 |  |  | $ | 540 |  |  | $ | 76 |  |  | $ | 255 |  |  | $ | 1,081 |  |  | $ | 1 |  |  | $ | 12 |  |  | $ | 2,397 |
Total Loans and Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Internal risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-3 High pass | $ | 33,216 |  |  | $ | 287,437 |  |  | $ | 386,182 |  |  | $ | 117,303 |  |  | $ | 194,718 |  |  | $ | 435,411 |  |  | $ | 300,907 |  |  | $ | (140) |  |  | $ | 1,755,034 |
4-6 Pass | 873,410 |  |  | 7,191,673 |  |  | 6,440,927 |  |  | 1,619,579 |  |  | 976,138 |  |  | 2,882,938 |  |  | 2,917,653 |  |  | 90,606 |  |  | 22,992,924 |
7 Special mention | 19,229 |  |  | 76,571 |  |  | 96,938 |  |  | 38,611 |  |  | 78,581 |  |  | 170,755 |  |  | 27,554 |  |  | 5,073 |  |  | 513,312 |
8-9 Classified | 4,596 |  |  | 19,456 |  |  | 68,224 |  |  | 12,780 |  |  | 45,103 |  |  | 68,476 |  |  | 8,590 |  |  | 1,192 |  |  | 228,417 |
Total | $ | 930,451 |  |  | $ | 7,575,137 |  |  | $ | 6,992,271 |  |  | $ | 1,788,273 |  |  | $ | 1,294,540 |  |  | $ | 3,557,580 |  |  | $ | 3,254,704 |  |  | $ | 96,731 |  |  | $ | 25,489,687 |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross charge-offs | $ | 3,436 |  |  | $ | 33,088 |  |  | $ | 8,708 |  |  | $ | 876 |  |  | $ | 359 |  |  | $ | 15,345 |  |  | $ | 1,023 |  |  | $ | 593 |  |  | $ | 63,428 |
____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
Finance Receivable, Loan Restructuring and Refinancing, Amortized Costs Balance | The following table presents our loan modifications made to borrowers experiencing financial difficulty by type of modification for the period indicated with related amortized cost balances as of the date indicated:
| Three Months Ended June 30, 2024
| Loan Modifications
| Balances (Amortized Cost Basis) at
| June 30, 2024
|  |  |  |  |  |  |  |  | Combination - Term |  | Combination - Term |  |  |  |
|  |  |  |  |  |  |  |  | Extension and |  | Extension and |  | Total Loan
| Term Extension |  | Payment Delay |  | Principal Forgiveness |  | Payment Delay |  | Modifications
|  |  | % of |  |  |  | % of |  |  |  | % of |  |  |  | % of |  |  |  | % of
|  |  | Loan |  |  |  | Loan |  |  |  | Loan |  |  |  | Loan |  |  |  | Loan
|  |  | Portfolio |  |  |  | Portfolio |  |  |  | Portfolio |  |  |  | Portfolio |  |  |  | Portfolio
| Balance |  | Class |  | Balance |  | Class |  | Balance |  | Class |  | Balance |  | Class |  | Balance |  | Class
| (Dollars in thousands)
Real estate mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 2,695 |  |  | 0.1 | % |  | $ | 14,253 |  |  | 0.3 | % |  | $ | 13,500 |  |  | 0.3 | % |  | $ | — |  |  | — | % |  | $ | 30,448 |  |  | 0.6 | %
Other residential | 3,017 |  |  | 0.1 | % |  | — |  |  | — | % |  | — |  |  | — | % |  | — |  |  | — | % |  | 3,017 |  |  | 0.1 | %
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other commercial | 2,099 |  |  | 0.1 | % |  | — |  |  | — | % |  | — |  |  | — | % |  | 54 |  |  | — | % |  | 2,153 |  |  | 0.1 | %
Consumer | 12 |  |  | — | % |  | — |  |  | — | % |  | — |  |  | — | % |  | — |  |  | — | % |  | 12 |  |  | — | %
Total | $ | 7,823 |  |  |  |  | $ | 14,253 |  |  |  |  | $ | 13,500 |  |  |  |  | $ | 54 |  |  |  |  | $ | 35,630 |  |  |
| Six Months Ended June 30, 2024
| Loan Modifications
| Balances (Amortized Cost Basis) at
| June 30, 2024
|  |  |  |  |  |  |  |  | Combination - Term |  | Combination - Term |  |  |  |
|  |  |  |  |  |  |  |  | Extension and |  | Extension and |  | Total Loan
| Term Extension |  | Payment Delay |  | Principal Forgiveness |  | Payment Delay |  | Modifications
|  |  | % of |  |  |  | % of |  |  |  | % of |  |  |  | % of |  |  |  | % of
|  |  | Loan |  |  |  | Loan |  |  |  | Loan |  |  |  | Loan |  |  |  | Loan
|  |  | Portfolio |  |  |  | Portfolio |  |  |  | Portfolio |  |  |  | Portfolio |  |  |  | Portfolio
| Balance |  | Class |  | Balance |  | Class |  | Balance |  | Class |  | Balance |  | Class |  | Balance |  | Class
| (Dollars in thousands)
Real estate mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 2,695 |  |  | 0.1 | % |  | $ | 14,253 |  |  | 0.3 | % |  | $ | 13,500 |  |  | 0.3 | % |  | $ | — |  |  | — | % |  | $ | 30,448 |  |  | 0.6 | %
Other residential | 4,356 |  |  | 0.2 | % |  | — |  |  | — | % |  | — |  |  | — | % |  | — |  |  | — | % |  | 4,356 |  |  | 0.2 | %
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other commercial | 2,099 |  |  | 0.1 | % |  | — |  |  | — | % |  | — |  |  | — | % |  | 54 |  |  | — | % |  | 2,153 |  |  | 0.1 | %
Consumer | 12 |  |  | — | % |  | — |  |  | — | % |  | — |  |  | — | % |  | — |  |  | — | % |  | 12 |  |  | — | %
Total | $ | 9,162 |  |  |  |  | $ | 14,253 |  |  |  |  | $ | 13,500 |  |  |  |  | $ | 54 |  |  |  |  | $ | 36,969 |  |  |
| Three Months Ended June 30, 2023
| Loan Modifications
| Balances (Amortized Cost Basis) at
| June 30, 2023
| Term Extension |  |  |  |  |  |  |  |
|  |  | % of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Loan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Portfolio |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Balance |  | Class |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (Dollars in thousands)
Real estate mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other residential | $ | 8,993 |  |  | 0.1 | % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other commercial | 931 |  |  | 0.1 | % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer | 15 |  |  | — | % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total | $ | 9,939 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Six Months Ended June 30, 2023
| Loan Modifications
| Balances (Amortized Cost Basis) at
| June 30, 2023
|  |  |  |  |  |  |  |  | Combination - Term |  |  |  |  |  |
|  |  |  |  |  |  |  |  | Extension and |  | Combination - Term |  |  |  |
|  |  |  |  |  |  |  |  | Interest Rate |  | Extension and |  | Total Loan
| Term Extension |  | Payment Delay |  | Reduction |  | Payment Delay |  | Modifications
|  |  | % of |  |  |  | % of |  |  |  | % of |  |  |  | % of |  |  |  | % of
|  |  | Loan |  |  |  | Loan |  |  |  | Loan |  |  |  | Loan |  |  |  | Loan
|  |  | Portfolio |  |  |  | Portfolio |  |  |  | Portfolio |  |  |  | Portfolio |  |  |  | Portfolio
| Balance |  | Class |  | Balance |  | Class |  | Balance |  | Class |  | Balance |  | Class |  | Balance |  | Class
| (Dollars in thousands)
Real estate mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other residential | $ | 18,522 |  |  | 0.3 | % |  | $ | — |  |  | — | % |  | $ | — |  |  | — | % |  | $ | — |  |  | — | % |  | $ | 18,522 |  |  | 0.3 | %
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Venture capital | — |  |  | — | % |  | — |  |  | — | % |  | — |  |  | — | % |  | 612 |  |  | — | % |  | 612 |  |  | — | %
Other commercial | 2,762 |  |  | 0.3 | % |  | 44 |  |  | — | % |  | — |  |  | — | % |  | — |  |  | — | % |  | 2,806 |  |  | 0.3 | %
Consumer | 15 |  |  | — | % |  | — |  |  | — | % |  | 3 |  |  | — | % |  | — |  |  | — | % |  | 18 |  |  | — | %
Total | $ | 21,299 |  |  |  |  | $ | 44 |  |  |  |  | $ | 3 |  |  |  |  | $ | 612 |  |  |  |  | $ | 21,958 |  |  |
Finance Receivables - Loan Restructuring & Refinancing Modifications | The following tables present the financial effect of our loan modifications made to borrowers experiencing financial difficulty by type of modification for the period indicated:
| Three Months Ended June 30, 2024
| Term Extension - Financial Effect
Real estate mortgage: |
Commercial | Extended maturity by a weighted average 14 months.
Other residential | Extended maturity by a weighted average 8 months.
Commercial: |  |  |  |  |  |
Other commercial | Extended maturity by a weighted average 11 months.
Consumer | Extended maturity by a weighted average 12 months.
| Three Months Ended June 30, 2024
| Payment Delay - Financial Effect
Real estate mortgage: |
Commercial | Deferred partial payments for up to 8 months.
| Three Months Ended June 30, 2024
| Combination - Term Extension and Principal Forgiveness - Financial Effect
Real estate mortgage: |
Commercial | Extended maturity by a weighted average 3 years and granted principal forgiveness totaling $4.0 million.
| Three Months Ended June 30, 2024
| Combination - Term Extension and Payment Delay - Financial Effect
Commercial: |  |  |  |  |  |
Other commercial | Extended maturity by a weighted average 10 years and granted 4 months of payment deferrals.
| Six Months Ended June 30, 2024
| Term Extension - Financial Effect
Real estate mortgage: |
Commercial | Extended maturity by a weighted average 14 months.
Other residential | Extended maturity by a weighted average 10 months.
Commercial: |  |  |  |  |  |
Other commercial | Extended maturity by a weighted average 11 months.
Consumer | Extended maturity by a weighted average 12 months.
| Six Months Ended June 30, 2024
| Payment Delay - Financial Effect
Real estate mortgage: |
Commercial | Deferred partial payments for up to 8 months.
| Six Months Ended June 30, 2024
| Combination - Term Extension and Principal Forgiveness - Financial Effect
Real estate mortgage: |
Commercial | Extended maturity by a weighted average 3 years and granted principal forgiveness totaling $4.0 million.
| Six Months Ended June 30, 2024
| Combination - Term Extension and Payment Delay - Financial Effect
Commercial: |  |  |  |  |  |
Other commercial | Extended maturity by a weighted average 10 years and granted 4 months of payment deferrals.
| Three Months Ended June 30, 2023
| Term Extension - Financial Effect
Real estate mortgage: |
Other residential | Extended maturity by a weighted average 12 months.
Commercial: |  |  |  |  |  |
Other commercial | Extended maturity by a weighted average 23 months.
Consumer | Extended maturity by a weighted average 12 months.
| Six Months Ended June 30, 2023
| Term Extension - Financial Effect
Real estate mortgage: |
Other residential | Extended maturity by a weighted average 9 months.
Commercial: |  |  |  |  |  |
Other commercial | Extended maturity by a weighted average 16 months.
Consumer | Extended maturity by a weighted average 12 months.
| Six Months Ended June 30, 2023
| Payment Delay - Financial Effect
Commercial: |  |  |  |  |  |
Other commercial | Provided 6 months of reduced payments to borrowers without extending the loan term.
| Six Months Ended June 30, 2023
| Combination - Term Extension and Interest Rate Reduction– Financial Effect
Consumer | Extended maturity by a weighted average 2 years and reduced weighted average contractual interest rate from 9.5% to 2.0%.
| Six Months Ended June 30, 2023
| Combination - Term Extension and Payment Delay - Financial Effect
Commercial: |  |  |  |  |  |
Venture capital | Extended maturity by a weighted average 11 months and provided 11 months of interest only payments to borrowers.
Finance Receivable, Loan Modifications, Payment Status | The following table presents the payment status of our loan modifications made during the past 12 months with related amortized cost balances as of the date indicated:
| Payment Status (Amortized Cost Basis) at
| June 30, 2024
|  |  | 30-89 Days |  | 90 or More Days |  |
| Current |  | Past Due |  | Past Due |  | Total
| (In thousands)
Real estate mortgage: |  |  |  |  |  |  |
Commercial | $ | 30,448 |  |  | $ | — |  |  | $ | — |  |  | $ | 30,448 |
Other residential | 3,211 |  |  | — |  |  | 3,611 |  |  | 6,822 |
Commercial: |  |  |  |  |  |  |
Other commercial | 3,674 |  |  | — |  |  | — |  |  | 3,674 |
Consumer | 12 |  |  | — |  |  | — |  |  | 12 |
Total | $ | 37,345 |  |  | $ | — |  |  | $ | 3,611 |  |  | $ | 40,956 |
Lease Income of Direct Financing Leases | The following table provides the components of leases receivable income for the periods indicated:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (In thousands)
Component of leases receivable income: |  |  |  |  |  |  |
Interest income on net investments in leases | $ | 4,877 |  |  | $ | 4,118 |  |  | $ | 9,612 |  |  | $ | 7,867 |
Assets and Liabilities, Lessor | The following table presents the components of leases receivable as of the dates indicated:
| June 30, 2024 |  | December 31, 2023
| (In thousands)
Net Investment in Direct Financing Leases: |  |  |
Lease payments receivable | $ | 242,768 |  |  | $ | 249,223 |
Unguaranteed residual assets | 25,043 |  |  | 25,488 |
Deferred costs and other | 2,447 |  |  | 2,715 |
Aggregate net investment in leases | $ | 270,258 |  |  | $ | 277,426 |
Sales-type and Direct Financing Leases, Lease Receivable, Maturity | The following table presents maturities of leases receivable as of the date indicated:
| June 30, 2024
| (In thousands)
Period ending December 31, |
2024 | $ | 43,140 |
2025 | 79,088 |
2026 | 61,086 |
2027 | 40,528 |
2028 | 23,553 |
Thereafter | 25,400 |
Total undiscounted cash flows | 272,795 |
Less: Unearned income | (30,027) |
Present value of lease payments | $ | 242,768 |
Finance Receivable, Allowance For Loan Losses | The following tables present a summary of the activity in the allowance for loan and lease losses on loans and leases held for investment by loan portfolio segment for the periods indicated:
| Three Months Ended June 30, 2024
|  |  | Real Estate |  |  |  |  |  |
| Real Estate |  | Construction |  |  |  |  |  |
| Mortgage |  | and Land |  | Commercial |  | Consumer |  | Total
| (In thousands)
Allowance for Loan and Lease Losses: |  |  |  |  |  |  |  |  |
Balance, beginning of period | $ | 198,274 |  |  | $ | 30,011 |  |  | $ | 47,054 |  |  | $ | 16,164 |  |  | $ | 291,503 |
Charge-offs | (53,881) |  |  | — |  |  | (3,148) |  |  | (1,041) |  |  | (58,070) |
Recoveries | 1,429 |  |  | — |  |  | 834 |  |  | 66 |  |  | 2,329 |
Net charge-offs | (52,452) |  |  | — |  |  | (2,314) |  |  | (975) |  |  | (55,741) |
Provision | 9,438 |  |  | (4,730) |  |  | 6,454 |  |  | 838 |  |  | 12,000 |
Balance, end of period | $ | 155,260 |  |  | $ | 25,281 |  |  | $ | 51,194 |  |  | $ | 16,027 |  |  | $ | 247,762 |
| Six Months Ended June 30, 2024
|  |  | Real Estate |  |  |  |  |  |
| Real Estate |  | Construction |  |  |  |  |  |
| Mortgage |  | and Land |  | Commercial |  | Consumer |  | Total
| (In thousands)
Allowance for Loan and Lease Losses: |  |  |  |  |  |  |  |  |
Balance, beginning of period | $ | 186,827 |  |  | $ | 33,830 |  |  | $ | 45,156 |  |  | $ | 15,874 |  |  | $ | 281,687 |
Charge-offs | (56,358) |  |  | — |  |  | (3,852) |  |  | (2,874) |  |  | (63,084) |
Recoveries | 2,320 |  |  | — |  |  | 3,703 |  |  | 136 |  |  | 6,159 |
Net charge-offs | (54,038) |  |  | — |  |  | (149) |  |  | (2,738) |  |  | (56,925) |
Provision | 22,471 |  |  | (8,549) |  |  | 6,187 |  |  | 2,891 |  |  | 23,000 |
Balance, end of period | $ | 155,260 |  |  | $ | 25,281 |  |  | $ | 51,194 |  |  | $ | 16,027 |  |  | $ | 247,762 |
Ending Allowance by |  |  |  |  |  |  |  |  |
Evaluation Methodology: |  |  |  |  |  |  |  |  |
Individually evaluated | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Collectively evaluated | $ | 155,260 |  |  | $ | 25,281 |  |  | $ | 51,194 |  |  | $ | 16,027 |  |  | $ | 247,762 |
Ending Loans and Leases by |  |  |  |  |  |  |  |  |
Evaluation Methodology: |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 95,086 |  |  | $ | — |  |  | $ | 19,292 |  |  | $ | — |  |  | $ | 114,378 |
Collectively evaluated | 13,478,514 |  |  | 3,357,597 |  |  | 5,852,517 |  |  | 425,903 |  |  | 23,114,531 |
Ending balance | $ | 13,573,600 |  |  | $ | 3,357,597 |  |  | $ | 5,871,809 |  |  | $ | 425,903 |  |  | $ | 23,228,909 |
| Three Months Ended June 30, 2023
|  |  | Real Estate |  |  |  |  |  |
| Real Estate |  | Construction |  |  |  |  |  |
| Mortgage |  | and Land |  | Commercial |  | Consumer |  | Total
| (In thousands)
Allowance for Loan and Lease Losses: |  |  |  |  |  |  |  |  |
Balance, beginning of period | $ | 109,483 |  |  | $ | 55,034 |  |  | $ | 37,195 |  |  | $ | 8,343 |  |  | $ | 210,055 |
Charge-offs | (23,875) |  |  | — |  |  | (7,347) |  |  | (486) |  |  | (31,708) |
Recoveries | 62 |  |  | — |  |  | 742 |  |  | 83 |  |  | 887 |
Net charge-offs | (23,813) |  |  | — |  |  | (6,605) |  |  | (403) |  |  | (30,821) |
Provision | 47,138 |  |  | (15,355) |  |  | 6,631 |  |  | 1,586 |  |  | 40,000 |
Balance, end of period | $ | 132,808 |  |  | $ | 39,679 |  |  | $ | 37,221 |  |  | $ | 9,526 |  |  | $ | 219,234 |
| Six Months Ended June 30, 2023
|  |  | Real Estate |  |  |  |  |  |
| Real Estate |  | Construction |  |  |  |  |  |
| Mortgage |  | and Land |  | Commercial |  | Consumer |  | Total
| (In thousands)
Allowance for Loan and Lease Losses: |  |  |  |  |  |  |  |  |
Balance, beginning of period | $ | 87,309 |  |  | $ | 52,320 |  |  | $ | 52,849 |  |  | $ | 8,254 |  |  | $ | 200,732 |
Charge-offs | (33,710) |  |  | — |  |  | (7,484) |  |  | (911) |  |  | (42,105) |
Recoveries | 262 |  |  | — |  |  | 1,717 |  |  | 128 |  |  | 2,107 |
Net charge-offs | (33,448) |  |  | — |  |  | (5,767) |  |  | (783) |  |  | (39,998) |
Provision | 78,947 |  |  | (12,641) |  |  | (9,861) |  |  | 2,055 |  |  | 58,500 |
Balance, end of period | $ | 132,808 |  |  | $ | 39,679 |  |  | $ | 37,221 |  |  | $ | 9,526 |  |  | $ | 219,234 |
Ending Allowance by |  |  |  |  |  |  |  |  |
Evaluation Methodology: |  |  |  |  |  |  |  |  |
Individually evaluated | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Collectively evaluated | $ | 132,808 |  |  | $ | 39,679 |  |  | $ | 37,221 |  |  | $ | 9,526 |  |  | $ | 219,234 |
Ending Loans and Leases by |  |  |  |  |  |  |  |  |
Evaluation Methodology: |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 101,968 |  |  | $ | — |  |  | $ | 3,126 |  |  | $ | — |  |  | $ | 105,094 |
Collectively evaluated | 14,186,074 |  |  | 2,465,523 |  |  | 5,091,660 |  |  | 409,859 |  |  | 22,153,116 |
Ending balance | $ | 14,288,042 |  |  | $ | 2,465,523 |  |  | $ | 5,094,786 |  |  | $ | 409,859 |  |  | $ | 22,258,210 |
Collateral-dependent Finance Receivable | The following table summarizes collateral-dependent loans held for investment by collateral type as of the following dates:
| June 30, 2024 |  | December 31, 2023
| Real |  | Business |  |  |  |  |  | Real |  | Business |  |
| Property |  | Assets |  |  |  | Total |  | Property |  | Assets |  | Total
| (In thousands)
Real estate mortgage | $ | 93,986 |  |  | $ | — |  |  |  |  | $ | 93,986 |  |  | $ | 47,952 |  |  | $ | — |  |  | $ | 47,952 |
Commercial | — |  |  | 11,256 |  |  |  |  | 11,256 |  |  | — |  |  | 3,616 |  |  | 3,616 |
Total | $ | 93,986 |  |  | $ | 11,256 |  |  |  |  | $ | 105,242 |  |  | $ | 47,952 |  |  | $ | 3,616 |  |  | $ | 51,568 |
Allowance for credit losses on financing receivables | The following tables present a summary of the activity in the allowance for loan and lease losses and reserve for unfunded loan commitments for the periods indicated:
| Three Months Ended |  |
| June 30, 2024 |  |  |  |  |  |
| Allowance for |  | Reserve for |  | Total |  |  |  |  |  |
| Loan and |  | Unfunded Loan |  | Allowance for |  |  |  |  |  |
| Lease Losses |  | Commitments |  | Credit Losses |  |  |  |  |  |
| (In thousands) |  |  |  |  |  |
Balance, beginning of period | $ | 291,503 |  |  | $ | 28,571 |  |  | $ | 320,074 |  |  |  |  |  |  |
Charge-offs | (58,070) |  |  | — |  |  | (58,070) |  |  |  |  |  |  |
Recoveries | 2,329 |  |  | — |  |  | 2,329 |  |  |  |  |  |  |
Net charge-offs | (55,741) |  |  | — |  |  | (55,741) |  |  |  |  |  |  |
Provision | 12,000 |  |  | (1,000) |  |  | 11,000 |  |  |  |  |  |  |
Balance, end of period | $ | 247,762 |  |  | $ | 27,571 |  |  | $ | 275,333 |  |  |  |  |  |  |
| Six Months Ended |  |
| June 30, 2024 |  |
| Allowance for |  | Reserve for |  | Total |  |  |  |  |  |
| Loan and |  | Unfunded Loan |  | Allowance for |  |  |  |  |  |
| Lease Losses |  | Commitments |  | Credit Losses |  |  |  |  |  |
| (In thousands) |  |  |  |  |  |
Balance, beginning of period | $ | 281,687 |  |  | $ | 29,571 |  |  | $ | 311,258 |  |  |  |  |  |  |
Charge-offs | (63,084) |  |  | — |  |  | (63,084) |  |  |  |  |  |  |
Recoveries | 6,159 |  |  | — |  |  | 6,159 |  |  |  |  |  |  |
Net charge-offs | (56,925) |  |  | — |  |  | (56,925) |  |  |  |  |  |  |
Provision | 23,000 |  |  | (2,000) |  |  | 21,000 |  |  |  |  |  |  |
Balance, end of period | $ | 247,762 |  |  | $ | 27,571 |  |  | $ | 275,333 |  |  |  |  |  |  |
| Three Months Ended |  |
| June 30, 2023 |  |  |  |  |  |
| Allowance for |  | Reserve for |  | Total |  |  |  |  |  |
| Loan and |  | Unfunded Loan |  | Allowance for |  |  |  |  |  |
| Lease Losses |  | Commitments |  | Credit Losses |  |  |  |  |  |
| (In thousands) |  |  |  |  |  |
Balance, beginning of period | $ | 210,055 |  |  | $ | 75,571 |  |  | $ | 285,626 |  |  |  |  |  |  |
Charge-offs | (31,708) |  |  | — |  |  | (31,708) |  |  |  |  |  |  |
Recoveries | 887 |  |  | — |  |  | 887 |  |  |  |  |  |  |
Net charge-offs | (30,821) |  |  | — |  |  | (30,821) |  |  |  |  |  |  |
Provision | 40,000 |  |  | (38,000) |  |  | 2,000 |  |  |  |  |  |  |
Balance, end of period | $ | 219,234 |  |  | $ | 37,571 |  |  | $ | 256,805 |  |  |  |  |  |  |
| Six Months Ended |  |
| June 30, 2023 |  |
| Allowance for |  | Reserve for |  | Total |  |  |  |  |  |
| Loan and |  | Unfunded Loan |  | Allowance for |  |  |  |  |  |
| Lease Losses |  | Commitments |  | Credit Losses |  |  |  |  |  |
| (In thousands) |  |  |  |  |  |
Balance, beginning of period | $ | 200,732 |  |  | $ | 91,071 |  |  | $ | 291,803 |  |  |  |  |  |  |
Charge-offs | (42,105) |  |  | — |  |  | (42,105) |  |  |  |  |  |  |
Recoveries | 2,107 |  |  | — |  |  | 2,107 |  |  |  |  |  |  |
Net charge-offs | (39,998) |  |  | — |  |  | (39,998) |  |  |  |  |  |  |
Provision | 58,500 |  |  | (53,500) |  |  | 5,000 |  |  |  |  |  |  |
Balance, end of period | $ | 219,234 |  |  | $ | 37,571 |  |  | $ | 256,805 |  |  |  |  |  |  |
Financing Receivable, Modified, Subsequent Default | The following table presents information on loans that defaulted during the periods indicated that had been modified during the preceding 12-month period with related amortized cost balances as of the date indicated:
| Three Months Ended June 30, 2024 |  | Six Months Ended June 30, 2024
| Modified Loans That |  | Modified Loans That
| Subsequently Defaulted |  | Subsequently Defaulted
| Amortized Cost Basis at |  | Amortized Cost Basis at
| June 30, 2024 |  | June 30, 2024
| Term Extension |  | Term Extension |  |  |  |  |  |  |  |
| (In thousands)
Real estate mortgage: |  |  |  |  |  |  |  |  |  |  |
Other residential | $ | 2,108 |  |  | $ | 3,836 |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |
Other commercial | 47 |  |  | 47 |  |  |  |  |  |  |  |  |
Total | $ | 2,155 |  |  | $ | 3,883 |  |  |  |  |  |  |  |  |

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