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Loans Receivable and Allowance for Loan Losses (Tables) | 9 Months Ended
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Sep. 30, 2018
Receivables [Abstract] |
Schedule of Loans Receivable | The following table presents loans receivable as of September 30, 2018 and December 31, 2017.
| September 30, 2018 |  | December 31, 2017
(amounts in thousands) |  |  | (As Restated)
Loans receivable, mortgage warehouse, at fair value | $ | 1,516,327 |  |  | $ | 1,793,408 |
Loans receivable: |  |  |
Commercial: |  |  |
Multi-family | 3,504,540 |  |  | 3,502,381 |
Commercial and industrial (including owner occupied commercial real estate) | 1,841,704 |  |  | 1,633,818 |
Commercial real estate non-owner occupied | 1,157,849 |  |  | 1,218,719 |
Construction | 95,250 |  |  | 85,393 |
Total commercial loans receivable | 6,599,343 |  |  | 6,440,311 |
Consumer: |  |  |
Residential real estate | 509,853 |  |  | 234,090 |
Manufactured housing | 82,589 |  |  | 90,227 |
Other | 51,210 |  |  | 3,547 |
Total consumer loans receivable | 643,652 |  |  | 327,864 |
Loans receivable | 7,242,995 |  |  | 6,768,175 |
Deferred (fees)/costs and unamortized (discounts)/premiums, net | (3,045 | ) |  | 83 |
Allowance for loan losses | (40,741 | ) |  | (38,015 | )
Total loans receivable, net of allowance for loan losses | $ | 8,715,536 |  |  | $ | 8,523,651 |
Loans Receivable by Loan Type and Performance Status | The following tables summarize loans receivable by loan type and performance status as of September 30, 2018 and December 31, 2017:
| September 30, 2018
| 30-89 Days Past Due (1) |  | 90 Days Or More Past Due (1) |  | Total Past Due (1) |  | Non- Accrual |  | Current (2) |  | Purchased- Credit- Impaired Loans (3) |  | Total Loans (4)
(amounts in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-family | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,343 |  |  | $ | 3,501,450 |  |  | $ | 1,747 |  |  | $ | 3,504,540 |
Commercial and industrial | 418 |  |  | — |  |  | 418 |  |  | 13,287 |  |  | 1,271,813 |  |  | 572 |  |  | 1,286,090 |
Commercial real estate owner occupied | — |  |  | — |  |  | — |  |  | 1,298 |  |  | 545,647 |  |  | 8,669 |  |  | 555,614 |
Commercial real estate non-owner occupied | — |  |  | — |  |  | — |  |  | 158 |  |  | 1,153,107 |  |  | 4,584 |  |  | 1,157,849 |
Construction | — |  |  | — |  |  | — |  |  | — |  |  | 95,250 |  |  | — |  |  | 95,250 |
Residential real estate | 2,321 |  |  | — |  |  | 2,321 |  |  | 5,522 |  |  | 497,211 |  |  | 4,799 |  |  | 509,853 |
Manufactured housing (5) | 3,475 |  |  | 2,300 |  |  | 5,775 |  |  | 1,921 |  |  | 72,777 |  |  | 2,116 |  |  | 82,589 |
Other consumer | 45 |  |  | — |  |  | 45 |  |  | 112 |  |  | 50,832 |  |  | 221 |  |  | 51,210 |
Total | $ | 6,259 |  |  | $ | 2,300 |  |  | $ | 8,559 |  |  | $ | 23,641 |  |  | $ | 7,188,087 |  |  | $ | 22,708 |  |  | $ | 7,242,995 |
| December 31, 2017
| 30-89 Days Past Due (1) |  | 90 Days Or More Past Due (1) |  | Total Past Due (1) |  | Non- Accrual |  | Current (2) |  | Purchased- Credit- Impaired Loans (3) |  | Total Loans (4)
(amounts in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-family | $ | 4,900 |  |  | $ | — |  |  | $ | 4,900 |  |  | $ | — |  |  | $ | 3,495,600 |  |  | $ | 1,881 |  |  | $ | 3,502,381 |
Commercial and industrial | 103 |  |  | — |  |  | 103 |  |  | 17,392 |  |  | 1,130,831 |  |  | 764 |  |  | 1,149,090 |
Commercial real estate owner occupied | 202 |  |  | — |  |  | 202 |  |  | 1,453 |  |  | 472,501 |  |  | 10,572 |  |  | 484,728 |
Commercial real estate non-owner occupied | 93 |  |  | — |  |  | 93 |  |  | 160 |  |  | 1,213,216 |  |  | 5,250 |  |  | 1,218,719 |
Construction | — |  |  | — |  |  | — |  |  | — |  |  | 85,393 |  |  | — |  |  | 85,393 |
Residential real estate | 7,628 |  |  | — |  |  | 7,628 |  |  | 5,420 |  |  | 215,361 |  |  | 5,681 |  |  | 234,090 |
Manufactured housing (5) | 4,028 |  |  | 2,743 |  |  | 6,771 |  |  | 1,959 |  |  | 78,946 |  |  | 2,551 |  |  | 90,227 |
Other consumer | 116 |  |  | — |  |  | 116 |  |  | 31 |  |  | 3,184 |  |  | 216 |  |  | 3,547 |
Total | $ | 17,070 |  |  | $ | 2,743 |  |  | $ | 19,813 |  |  | $ | 26,415 |  |  | $ | 6,695,032 |  |  | $ | 26,915 |  |  | $ | 6,768,175 |
(1) | Includes past due loans that are accruing interest because collection is considered probable.
(2) | Loans where next payment due is less than 30 days from the report date.
(3) | Purchased-credit-impaired loans aggregated into a pool are accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows, and the past due status of the pools, or that of the individual loans within the pools, is not meaningful. Due to the credit impaired nature of the loans, the loans are recorded at a discount reflecting estimated future cash flows and the Bank recognizes interest income on each pool of loans reflecting the estimated yield and passage of time. Such loans are considered to be performing. Purchased-credit-impaired loans that are not in pools accrete interest when the timing and amount of their expected cash flows are reasonably estimable, and are reported as performing loans.
(4) | Amounts exclude deferred costs and fees, unamortized premiums and discounts, and the allowance for loan losses.
(5) | Manufactured housing loans purchased in 2010 are supported by cash reserves held at the Bank that are used to fund past-due payments when the loan becomes 90 days or more delinquent. Subsequent purchases are subject to varying provisions in the event of borrowers’ delinquencies.
Schedule of Allowance for Loan Losses | The changes in the allowance for loan losses for the three and nine months ended September 30, 2018 and 2017, and the loans and allowance for loan losses by loan type based on impairment-evaluation method as of September 30, 2018 and December 31, 2017 are presented in the tables below.
Three Months Ended September 30, 2018 | Multi-family |  | Commercial and Industrial |  | Commercial Real Estate Owner Occupied |  | Commercial Real Estate Non-Owner Occupied |  | Construction |  | Residential Real Estate |  | Manufactured Housing |  | Other Consumer |  | Total
(amounts in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Balance, June 30, 2018 | $ | 12,069 |  |  | $ | 12,258 |  |  | $ | 2,988 |  |  | $ | 6,698 |  |  | $ | 992 |  |  | $ | 2,908 |  |  | $ | 149 |  |  | $ | 226 |  |  | $ | 38,288 |
Charge-offs | — |  |  | (90 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (437 | ) |  | (527 | )
Recoveries | — |  |  | 30 |  |  | — |  |  | 5 |  |  | 11 |  |  | 6 |  |  | — |  |  | 4 |  |  | 56 |
Provision for loan losses | (240 | ) |  | 516 |  |  | 164 |  |  | (254 | ) |  | 59 |  |  | 987 |  |  | (55 | ) |  | 1,747 |  |  | 2,924 |
Ending Balance, September 30, 2018 | $ | 11,829 |  |  | $ | 12,714 |  |  | $ | 3,152 |  |  | $ | 6,449 |  |  | $ | 1,062 |  |  | $ | 3,901 |  |  | $ | 94 |  |  | $ | 1,540 |  |  | $ | 40,741 |
Nine Months Ended September 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Balance, December 31, 2017 | $ | 12,168 |  |  | $ | 10,918 |  |  | $ | 3,232 |  |  | $ | 7,437 |  |  | $ | 979 |  |  | $ | 2,929 |  |  | $ | 180 |  |  | $ | 172 |  |  | $ | 38,015 |
Charge-offs | — |  |  | (314 | ) |  | (501 | ) |  | — |  |  | — |  |  | (407 | ) |  | — |  |  | (1,155 | ) |  | (2,377 | )
Recoveries | — |  |  | 205 |  |  | 326 |  |  | 5 |  |  | 231 |  |  | 69 |  |  | — |  |  | 10 |  |  | 846 |
Provision for loan losses | (339 | ) |  | 1,905 |  |  | 95 |  |  | (993 | ) |  | (148 | ) |  | 1,310 |  |  | (86 | ) |  | 2,513 |  |  | 4,257 |
Ending Balance, September 30, 2018 | $ | 11,829 |  |  | $ | 12,714 |  |  | $ | 3,152 |  |  | $ | 6,449 |  |  | $ | 1,062 |  |  | $ | 3,901 |  |  | $ | 94 |  |  | $ | 1,540 |  |  | $ | 40,741 |
As of September 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 1,343 |  |  | $ | 13,353 |  |  | $ | 1,335 |  |  | $ | 158 |  |  | $ | — |  |  | $ | 8,581 |  |  | $ | 10,378 |  |  | $ | 112 |  |  | $ | 35,260 |
Collectively evaluated for impairment | 3,501,450 |  |  | 1,272,165 |  |  | 545,610 |  |  | 1,153,107 |  |  | 95,250 |  |  | 496,473 |  |  | 70,095 |  |  | 50,877 |  |  | 7,185,027 |
Loans acquired with credit deterioration | 1,747 |  |  | 572 |  |  | 8,669 |  |  | 4,584 |  |  | — |  |  | 4,799 |  |  | 2,116 |  |  | 221 |  |  | 22,708 |
Total loans receivable (1) | $ | 3,504,540 |  |  | $ | 1,286,090 |  |  | $ | 555,614 |  |  | $ | 1,157,849 |  |  | $ | 95,250 |  |  | $ | 509,853 |  |  | $ | 82,589 |  |  | $ | 51,210 |  |  | $ | 7,242,995 |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | — |  |  | $ | 1,381 |  |  | $ | 80 |  |  | $ | — |  |  | $ | — |  |  | $ | 306 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 1,771 |
Collectively evaluated for impairment | 11,829 |  |  | 10,881 |  |  | 3,072 |  |  | 4,298 |  |  | 1,062 |  |  | 3,072 |  |  | 88 |  |  | 1,471 |  |  | 35,773 |
Loans acquired with credit deterioration | — |  |  | 452 |  |  | — |  |  | 2,151 |  |  | — |  |  | 523 |  |  | 2 |  |  | 69 |  |  | 3,197 |
Allowance for loan losses | $ | 11,829 |  |  | $ | 12,714 |  |  | $ | 3,152 |  |  | $ | 6,449 |  |  | $ | 1,062 |  |  | $ | 3,901 |  |  | $ | 94 |  |  | $ | 1,540 |  |  | $ | 40,741 |
Three Months Ended September 30, 2017 | Multi-family |  | Commercial and Industrial |  | Commercial Real Estate Owner Occupied |  | Commercial Real Estate Non-Owner Occupied |  | Construction |  | Residential Real Estate |  | Manufactured Housing |  | Other Consumer |  | Total
(amounts in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Balance, June 30, 2017 | $ | 12,028 |  |  | $ | 11,585 |  |  | $ | 2,976 |  |  | $ | 7,786 |  |  | $ | 716 |  |  | $ | 2,995 |  |  | $ | 268 |  |  | $ | 104 |  |  | $ | 38,458 |
Charge-offs | — |  |  | (2,032 | ) |  | — |  |  | (77 | ) |  | — |  |  | (120 | ) |  | — |  |  | (356 | ) |  | (2,585 | )
Recoveries | — |  |  | 54 |  |  | — |  |  | — |  |  | 27 |  |  | 7 |  |  | — |  |  | 1 |  |  | 89 |
Provision for loan losses | 668 |  |  | 966 |  |  | 262 |  |  | (53 | ) |  | 104 |  |  | 72 |  |  | (77 | ) |  | 410 |  |  | 2,352 |
Ending Balance, September 30, 2017 | $ | 12,696 |  |  | $ | 10,573 |  |  | $ | 3,238 |  |  | $ | 7,656 |  |  | $ | 847 |  |  | $ | 2,954 |  |  | $ | 191 |  |  | $ | 159 |  |  | $ | 38,314 |
Nine Months Ended September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Balance, December 31, 2016 | $ | 11,602 |  |  | $ | 11,050 |  |  | $ | 2,183 |  |  | $ | 7,894 |  |  | $ | 840 |  |  | $ | 3,342 |  |  | $ | 286 |  |  | $ | 118 |  |  | $ | 37,315 |
Charge-offs | — |  |  | (4,079 | ) |  | — |  |  | (485 | ) |  | — |  |  | (410 | ) |  | — |  |  | (602 | ) |  | (5,576 | )
Recoveries | — |  |  | 337 |  |  | 9 |  |  | — |  |  | 157 |  |  | 34 |  |  | — |  |  | 101 |  |  | 638 |
Provision for loan losses | 1,094 |  |  | 3,265 |  |  | 1,046 |  |  | 247 |  |  | (150 | ) |  | (12 | ) |  | (95 | ) |  | 542 |  |  | 5,937 |
Ending Balance, September 30, 2017 | $ | 12,696 |  |  | $ | 10,573 |  |  | $ | 3,238 |  |  | $ | 7,656 |  |  | $ | 847 |  |  | $ | 2,954 |  |  | $ | 191 |  |  | $ | 159 |  |  | $ | 38,314 |
As of December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | — |  |  | $ | 17,461 |  |  | $ | 1,448 |  |  | $ | 160 |  |  | $ | — |  |  | $ | 9,247 |  |  | $ | 10,089 |  |  | $ | 30 |  |  | $ | 38,435 |
Collectively evaluated for impairment | 3,500,500 |  |  | 1,130,865 |  |  | 472,708 |  |  | 1,213,309 |  |  | 85,393 |  |  | 219,162 |  |  | 77,587 |  |  | 3,301 |  |  | 6,702,825 |
Loans acquired with credit deterioration | 1,881 |  |  | 764 |  |  | 10,572 |  |  | 5,250 |  |  | — |  |  | 5,681 |  |  | 2,551 |  |  | 216 |  |  | 26,915 |
Total loans receivable | $ | 3,502,381 |  |  | $ | 1,149,090 |  |  | $ | 484,728 |  |  | $ | 1,218,719 |  |  | $ | 85,393 |  |  | $ | 234,090 |  |  | $ | 90,227 |  |  | $ | 3,547 |  |  | $ | 6,768,175 |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | — |  |  | $ | 650 |  |  | $ | 642 |  |  | $ | — |  |  | $ | — |  |  | $ | 155 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 1,451 |
Collectively evaluated for impairment | 12,168 |  |  | 9,804 |  |  | 2,580 |  |  | 4,630 |  |  | 979 |  |  | 2,177 |  |  | 82 |  |  | 117 |  |  | 32,537 |
Loans acquired with credit deterioration | — |  |  | 464 |  |  | 10 |  |  | 2,807 |  |  | — |  |  | 597 |  |  | 94 |  |  | 55 |  |  | 4,027 |
Allowance for loan losses | $ | 12,168 |  |  | $ | 10,918 |  |  | $ | 3,232 |  |  | $ | 7,437 |  |  | $ | 979 |  |  | $ | 2,929 |  |  | $ | 180 |  |  | $ | 172 |  |  | $ | 38,015 |
Summary of Recorded Investment Net Charge-Offs, Unpaid Principal Balance and Related Allowance for Impaired Loans | The following tables present the recorded investment (net of charge-offs), unpaid principal balance, and related allowance by loan type for impaired loans that were individually evaluated for impairment as of September 30, 2018 and December 31, 2017 and the average recorded investment and interest income recognized for the three and nine months ended September 30, 2018 and 2017. Purchased-credit-impaired loans are considered to be performing and are not included in the tables below.
| September 30, 2018 |  | Three Months Ended September 30, 2018 |  | Nine Months Ended September 30, 2018
| Recorded Investment Net of Charge-offs |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized |  | Average Recorded Investment |  | Interest Income Recognized
(amounts in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |
With no recorded allowance: |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-family | $ | 1,343 |  |  | $ | 1,343 |  |  | $ | — |  |  | $ | 1,343 |  |  | $ | — |  |  | $ | 672 |  |  | $ | 8 |
Commercial and industrial | 9,888 |  |  | 10,224 |  |  | — |  |  | 7,765 |  |  | 166 |  |  | 7,623 |  |  | 168 |
Commercial real estate owner occupied | 704 |  |  | 1,187 |  |  | — |  |  | 711 |  |  | — |  |  | 711 |  |  | — |
Commercial real estate non-owner occupied | 158 |  |  | 271 |  |  | — |  |  | 1,347 |  |  | — |  |  | 774 |  |  | 8 |
Other consumer | 112 |  |  | 112 |  |  | — |  |  | 103 |  |  | 1 |  |  | 83 |  |  | 1 |
Residential real estate | 4,259 |  |  | 4,504 |  |  | — |  |  | 4,281 |  |  | 23 |  |  | 3,952 |  |  | 25 |
Manufactured housing | 10,152 |  |  | 10,152 |  |  | — |  |  | 10,147 |  |  | 144 |  |  | 10,011 |  |  | 421 |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | 3,465 |  |  | 3,648 |  |  | 1,381 |  |  | 5,787 |  |  | 27 |  |  | 7,089 |  |  | 39 |
Commercial real estate owner occupied | 631 |  |  | 631 |  |  | 80 |  |  | 336 |  |  | 9 |  |  | 546 |  |  | 11 |
Residential real estate | 4,322 |  |  | 4,329 |  |  | 306 |  |  | 4,398 |  |  | 61 |  |  | 4,760 |  |  | 124 |
Manufactured housing | 226 |  |  | 226 |  |  | 4 |  |  | 227 |  |  | 4 |  |  | 225 |  |  | 10 |
Total | $ | 35,260 |  |  | $ | 36,627 |  |  | $ | 1,771 |  |  | $ | 36,445 |  |  | $ | 435 |  |  | $ | 36,446 |  |  | $ | 815 |
| December 31, 2017 |  | Three Months Ended September 30, 2017 |  | Nine Months Ended September 30, 2017
| Recorded Investment Net of Charge-offs |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized |  | Average Recorded Investment |  | Interest Income Recognized
(amounts in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |
With no recorded allowance: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 9,138 |  |  | $ | 9,287 |  |  | $ | — |  |  | $ | 13,345 |  |  | $ | 354 |  |  | $ | 8,796 |  |  | $ | 450 |
Commercial real estate owner occupied | 806 |  |  | 806 |  |  | — |  |  | 1,744 |  |  | 15 |  |  | 1,589 |  |  | 18 |
Commercial real estate non-owner occupied | 160 |  |  | 272 |  |  | — |  |  | 184 |  |  | 91 |  |  | 989 |  |  | 93 |
Other consumer | 30 |  |  | 30 |  |  | — |  |  | 44 |  |  | — |  |  | 50 |  |  | — |
Residential real estate | 3,628 |  |  | 3,801 |  |  | — |  |  | 5,228 |  |  | 125 |  |  | 4,865 |  |  | 126 |
Manufactured housing | 9,865 |  |  | 9,865 |  |  | — |  |  | 10,243 |  |  | 164 |  |  | 10,038 |  |  | 457 |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | 8,323 |  |  | 8,506 |  |  | 650 |  |  | 1,963 |  |  | — |  |  | 5,400 |  |  | 22 |
Commercial real estate owner occupied | 642 |  |  | 642 |  |  | 642 |  |  | 1,056 |  |  | 1 |  |  | 950 |  |  | 3 |
Commercial real estate non-owner occupied | — |  |  | — |  |  | — |  |  | 51 |  |  | — |  |  | 94 |  |  | — |
Other consumer | — |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 6 |  |  | — |
Residential real estate | 5,619 |  |  | 5,656 |  |  | 155 |  |  | 2,862 |  |  | — |  |  | 2,729 |  |  | 84 |
Manufactured housing | 224 |  |  | 224 |  |  | 4 |  |  | 114 |  |  | — |  |  | 108 |  |  | 8 |
Total | $ | 38,435 |  |  | $ | 39,089 |  |  | $ | 1,451 |  |  | $ | 36,846 |  |  | $ | 750 |  |  | $ | 35,614 |  |  | $ | 1,261 |
Summary of Loans Modified in Troubled Debt Restructurings and Related Recorded Investment | The following table presents total TDRs based on loan type and accrual status at September 30, 2018 and December 31, 2017. Nonaccrual TDRs are included in the reported amount of total non-accrual loans.
| September 30, 2018 |  | December 31, 2017
| Accruing TDRs | Nonaccrual TDRs | Total |  | Accruing TDRs | Nonaccrual TDRs | Total
(amounts in thousands) |  |  |  |  |  |  |
Commercial and industrial | $ | 66 |  | $ | 5,311 |  | $ | 5,377 |  |  | $ | 63 |  | $ | 5,939 |  | $ | 6,002 |
Commercial real estate owner occupied | 37 |  | — |  | 37 |  |  | — |  | — |  | — |
Manufactured housing | 8,457 |  | 1,781 |  | 10,238 |  |  | 8,130 |  | 1,766 |  | 9,896 |
Residential real estate | 3,059 |  | 698 |  | 3,757 |  |  | 3,828 |  | 703 |  | 4,531 |
Other consumer | — |  | 13 |  | 13 |  |  | — |  | — |  | — |
Total TDRs | $ | 11,619 |  | $ | 7,803 |  | $ | 19,422 |  |  | $ | 12,021 |  | $ | 8,408 |  | $ | 20,429 |
The following table provides, by loan type, the number of loans modified in troubled debt restructurings, and the related recorded investment, during the three and nine months ended September 30, 2018 and 2017.
| Three Months Ended September 30, 2018 |  | Three Months Ended September 30, 2017
| Number of Loans |  | Recorded Investment |  | Number of Loans |  | Recorded Investment
(dollars in thousands) |  |  |  |  |  |  |
Manufactured housing | 7 |  |  | $ | 321 |  |  | 4 |  |  | $ | 182 |
Residential real estate | 1 |  |  | 152 |  |  | — |  |  | — |
Total loans | 8 |  |  | $ | 473 |  |  | 4 |  |  | $ | 182 |
| Nine Months Ended September 30, 2018 |  | Nine Months Ended September 30, 2017
| Number of Loans |  | Recorded Investment |  | Number of Loans |  | Recorded Investment
(dollars in thousands) |  |  |  |  |  |  |
Commercial and industrial | — |  |  | $ | — |  |  | 3 |  |  | $ | 6,203 |
Manufactured housing | 30 |  |  | 1,093 |  |  | 33 |  |  | 1,357 |
Residential real estate | 2 |  |  | 352 |  |  | — |  |  | — |
Other consumer | 1 |  |  | 13 |  |  | — |  |  | — |
Total loans | 33 |  |  | $ | 1,458 |  |  | 36 |  |  | $ | 7,560 |
Analysis of Loans Modified in Troubled Debt Restructuring by Type of Concession | The following table presents loans modified in a troubled debt restructuring by type of concession for the three and nine months ended September 30, 2018 and 2017. There were no modifications that involved forgiveness of debt for the three and nine months ended September 30, 2018 and 2017.
| Three Months Ended September 30, 2018 |  | Three Months Ended September 30, 2017
| Number of Loans |  | Recorded Investment |  | Number of Loans |  | Recorded Investment
(dollars in thousands) |  |  |  |  |  |  |
Extensions of maturity | — |  |  | $ | — |  |  | 1 |  |  | $ | 60 |
Interest-rate reductions | 8 |  |  | 473 |  |  | 3 |  |  | 122 |
Total | 8 |  |  | $ | 473 |  |  | 4 |  |  | $ | 182 |
| Nine Months Ended September 30, 2018 |  | Nine Months Ended September 30, 2017
| Number of Loans |  | Recorded Investment |  | Number of Loans |  | Recorded Investment
(dollars in thousands) |  |  |  |  |  |  |
Extensions of maturity | 1 |  |  | $ | 56 |  |  | 4 |  |  | $ | 6,263 |
Interest-rate reductions | 32 |  |  | 1,402 |  |  | 32 |  |  | 1,297 |
Total | 33 |  |  | $ | 1,458 |  |  | 36 |  |  | $ | 7,560 |
Changes in Accretable Yield Related to Purchased-credit-impaired Loans | The changes in accretable yield related to purchased-credit-impaired loans for the three and nine months ended September 30, 2018 and 2017 were as follows:
| Three Months Ended September 30,
| 2018 |  | 2017
(amounts in thousands) |  |  |
Accretable yield balance as of June 30, | $ | 7,403 |  |  | $ | 9,006 |
Accretion to interest income | (310 | ) |  | (368 | )
Reclassification from nonaccretable difference and disposals, net | (4 | ) |  | (276 | )
Accretable yield balance as of September 30, | $ | 7,089 |  |  | $ | 8,362 |
| Nine Months Ended September 30,
| 2018 |  | 2017
(amounts in thousands) |  |  |
Accretable yield balance as of December 31, | $ | 7,825 |  |  | $ | 10,202 |
Accretion to interest income | (1,164 | ) |  | (1,326 | )
Reclassification from nonaccretable difference and disposals, net | 428 |  |  | (514 | )
Accretable yield balance as of September 30, | $ | 7,089 |  |  | $ | 8,362 |
Credit Ratings of Covered and Non-Covered Loan Portfolio | The following tables present the credit ratings of loans receivable as of September 30, 2018 and December 31, 2017.
| September 30, 2018
| Multi-Family |  | Commercial and Industrial |  | Commercial Real Estate Owner Occupied |  | Commercial Real Estate Non-Owner Occupied |  | Construction |  | Residential Real Estate |  | Manufactured Housing |  | Other Consumer |  | Total (3)
(amounts in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass/Satisfactory | $ | 3,399,892 |  |  | $ | 1,235,945 |  |  | $ | 539,252 |  |  | $ | 1,084,388 |  |  | $ | 95,250 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6,354,727 |
Special Mention | 81,253 |  |  | 7,756 |  |  | 8,793 |  |  | 30,406 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 128,208 |
Substandard | 23,395 |  |  | 42,389 |  |  | 7,569 |  |  | 43,055 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 116,408 |
Performing (1) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 502,010 |  |  | 74,893 |  |  | 51,053 |  |  | 627,956 |
Non-performing (2) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7,843 |  |  | 7,696 |  |  | 157 |  |  | 15,696 |
Total | $ | 3,504,540 |  |  | $ | 1,286,090 |  |  | $ | 555,614 |  |  | $ | 1,157,849 |  |  | $ | 95,250 |  |  | $ | 509,853 |  |  | $ | 82,589 |  |  | $ | 51,210 |  |  | $ | 7,242,995 |
| December 31, 2017
| Multi-Family |  | Commercial and Industrial |  | Commercial Real Estate Owner Occupied |  | Commercial Real Estate Non-Owner Occupied |  | Construction |  | Residential Real Estate |  | Manufactured Housing |  | Other Consumer |  | Total (3)
(amounts in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass/Satisfactory | $ | 3,438,554 |  |  | $ | 1,118,889 |  |  | $ | 471,826 |  |  | $ | 1,185,933 |  |  | $ | 85,393 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6,300,595 |
Special Mention | 53,873 |  |  | 7,652 |  |  | 5,987 |  |  | 31,767 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 99,279 |
Substandard | 9,954 |  |  | 22,549 |  |  | 6,915 |  |  | 1,019 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 40,437 |
Performing (1) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 221,042 |  |  | 81,497 |  |  | 3,400 |  |  | 305,939 |
Non-performing (2) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 13,048 |  |  | 8,730 |  |  | 147 |  |  | 21,925 |
Total | $ | 3,502,381 |  |  | $ | 1,149,090 |  |  | $ | 484,728 |  |  | $ | 1,218,719 |  |  | $ | 85,393 |  |  | $ | 234,090 |  |  | $ | 90,227 |  |  | $ | 3,547 |  |  | $ | 6,768,175 |
(1) | Includes residential real estate, manufactured housing, and other consumer loans not subject to risk ratings.
(2) | Includes residential real estate, manufactured housing, and other consumer loans that are past due and still accruing interest or on nonaccrual status.

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