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Loans and Leases Receivable and Allowance for Credit Losses (Tables) | 12 Months Ended
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Dec. 31, 2020
Receivables [Abstract] |
Schedule of Loans and Leases Receivable | The following table presents loans and leases receivable as of December 31, 2020 and 2019:
| December 31,
(amounts in thousands) | 2020 |  | 2019
Loans receivable, mortgage warehouse, at fair value | $ | 3,616,432 |  |  | $ | 2,245,758 |
Loans receivable, PPP | 4,561,365 |  |  | — |
Loans receivable: |  |  |
Commercial: |  |  |
Multi-family | 1,761,301 |  |  | 1,907,331 |
Commercial and industrial (1) | 2,289,441 |  |  | 1,891,152 |
Commercial real estate owner occupied | 572,338 |  |  | 551,948 |
Commercial real estate non-owner occupied | 1,196,564 |  |  | 1,222,772 |
Construction | 140,905 |  |  | 117,617 |
Total commercial loans and leases receivable | 5,960,549 |  |  | 5,690,820 |
Consumer: |  |  |
Residential real estate | 317,170 |  |  | 382,634 |
Manufactured housing | 62,243 |  |  | 71,359 |
Installment | 1,235,406 |  |  | 1,174,175 |
Total consumer loans receivable | 1,614,819 |  |  | 1,628,168 |
Loans and leases receivable (2) | 7,575,368 |  |  | 7,318,988 |
Allowance for credit losses on loans and leases | (144,176) |  |  | (56,379) |
Total loans and leases receivable, net of allowance for credit losses on loans and leases | $ | 15,608,989 |  |  | $ | 9,508,367 |
(1)Includes direct finance equipment leases of $108.0 million and $89.2 million at December 31, 2020 and 2019, respectively. (2)Includes deferred (fees) costs and unamortized (discounts) premiums, net of $(54.6) million and $2.1 million at December 31, 2020 and 2019, respectively.
Loans Receivable by Class and Performance Status | The following tables summarize loans and leases receivable by loan and lease type and performance status as of December 31, 2020 and 2019:
| December 31, 2020
(amounts in thousands) | 30-59 Days past due (1) |  | 60-89 Days past due (1) |  | 90 Days or more past due (1) |  | Total past due (1) |  | Loans and leases not past due (2) |  | Total loans and leases (3)
Multi-family | $ | 4,193 |  |  | $ | 5,224 |  |  | $ | 14,907 |  |  | $ | 24,324 |  |  | $ | 1,736,977 |  |  | $ | 1,761,301 |
Commercial and industrial | 2,257 |  |  | 1,274 |  |  | 3,079 |  |  | 6,610 |  |  | 2,282,831 |  |  | 2,289,441 |
Commercial real estate owner occupied | 864 |  |  | 1,324 |  |  | 2,370 |  |  | 4,558 |  |  | 567,780 |  |  | 572,338 |
Commercial real estate non-owner occupied | — |  |  | 60 |  |  | 2,356 |  |  | 2,416 |  |  | 1,194,148 |  |  | 1,196,564 |
Construction | — |  |  | — |  |  | — |  |  | — |  |  | 140,905 |  |  | 140,905 |
Residential real estate | 6,640 |  |  | 1,827 |  |  | 1,856 |  |  | 10,323 |  |  | 306,847 |  |  | 317,170 |
Manufactured housing | 1,518 |  |  | 673 |  |  | 1,951 |  |  | 4,142 |  |  | 58,101 |  |  | 62,243 |
Installment | 6,161 |  |  | 3,430 |  |  | 81 |  |  | 9,672 |  |  | 1,225,734 |  |  | 1,235,406 |
Total | $ | 21,633 |  |  | $ | 13,812 |  |  | $ | 26,600 |  |  | $ | 62,045 |  |  | $ | 7,513,323 |  |  | $ | 7,575,368 |
| December 31, 2019
(amounts in thousands) | 30-89 Days past due (1) |  | 90 Days past due (1) |  | Total past due (1) |  | Non- accrual |  | Current (2) |  | Purchased-credit-impaired loans (4) |  | Total loans and leases (5)
Multi-family | $ | 2,133 |  |  | $ | — |  |  | $ | 2,133 |  |  | $ | 4,117 |  |  | $ | 1,901,336 |  |  | $ | 1,688 |  |  | $1,909,274
Commercial and industrial | 2,395 |  |  | — |  |  | 2,395 |  |  | 4,531 |  |  | 1,882,700 |  |  | 354 |  |  | 1,889,980 |
Commercial real estate owner occupied | 5,388 |  |  | — |  |  | 5,388 |  |  | 1,963 |  |  | 537,992 |  |  | 6,664 |  |  | 552,007 |
Commercial real estate non-owner occupied | 8,034 |  |  | — |  |  | 8,034 |  |  | 76 |  |  | 1,211,892 |  |  | 3,527 |  |  | 1,223,529 |
Construction | — |  |  | — |  |  | — |  |  | — |  |  | 118,418 |  |  | — |  |  | 118,418 |
Residential real estate | 5,924 |  |  | — |  |  | 5,924 |  |  | 6,128 |  |  | 359,491 |  |  | 3,471 |  |  | 375,014 |
Manufactured housing | 3,699 |  |  | 1,794 |  |  | 5,493 |  |  | 1,655 |  |  | 61,649 |  |  | 1,601 |  |  | 70,398 |
Installment | 5,756 |  |  | — |  |  | 5,756 |  |  | 1,551 |  |  | 1,170,793 |  |  | 183 |  |  | 1,178,283 |
Total | $ | 33,329 |  |  | $ | 1,794 |  |  | $ | 35,123 |  |  | $ | 20,021 |  |  | $ | 7,244,271 |  |  | $ | 17,488 |  |  | $ | 7,316,903 |
(1)Includes past due loans and leases that are accruing interest because collection is considered probable. (2)Loans and leases where next payment due is less than 30 days from the report date. The December 31, 2020 table excludes PPP loans of $4.6 billion which are all current as of December 31, 2020. (3)Includes PCD loans of $13.4 million at December 31, 2020. (4)PCI 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. PCI 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. (5)Amounts exclude deferred costs and fees and unamortized premiums and discounts.
Amortized cost of Loans and Leases on Nonaccrual Status | The following table presents the amortized cost of loans and leases held for investment on nonaccrual status.
| December 31, 2020 (1) |  | December 31, 2019 (2) |  |  |  |
(amounts in thousands) | Nonaccrual loans with no related allowance |  | Nonaccrual loans with related allowance |  | Total nonaccrual loans |  | Nonaccrual loans with no related allowance |  | Nonaccrual loans with related allowance |  | Total nonaccrual loans |  |  |  |  |  |  |  |
Multi-family | $ | 18,800 |  |  | $ | 2,928 |  |  | $ | 21,728 |  |  | $ | 4,117 |  |  | $ | — |  |  | $ | 4,117 |  |  |  |  |  |  |  |  |
Commercial and industrial | 6,384 |  |  | 2,069 |  |  | 8,453 |  |  | 3,083 |  |  | 1,448 |  |  | 4,531 |  |  |  |  |  |  |  |  |
Commercial real estate owner occupied | 3,411 |  |  | — |  |  | 3,411 |  |  | 1,109 |  |  | 854 |  |  | 1,963 |  |  |  |  |  |  |  |  |
Commercial real estate non-owner occupied | 2,356 |  |  | — |  |  | 2,356 |  |  | 76 |  |  | — |  |  | 76 |  |  |  |  |  |  |  |  |
Residential real estate | 9,911 |  |  | — |  |  | 9,911 |  |  | 4,559 |  |  | 1,569 |  |  | 6,128 |  |  |  |  |  |  |  |  |
Manufactured housing | — |  |  | 2,969 |  |  | 2,969 |  |  | — |  |  | 1,655 |  |  | 1,655 |  |  |  |  |  |  |  |  |
Installment | — |  |  | 3,211 |  |  | 3,211 |  |  | 140 |  |  | 1,411 |  |  | 1,551 |  |  |  |  |  |  |  |  |
Total | $ | 40,862 |  |  | $ | 11,177 |  |  | $ | 52,039 |  |  | $ | 13,084 |  |  | $ | 6,937 |  |  | $ | 20,021 |  |  |  |  |  |  |  |  |
(1) Presented at amortized cost basis. (2) Amounts exclude deferred costs and fees and unamortized premiums and discounts.
Schedule of Allowance for Loan Losses | The changes in the ACL for the years ended December 31, 2020 and 2019, and the loans and leases and ACL by loan and lease type are presented in the tables below. ACL as of December 31, 2020 is calculated in accordance with the CECL methodology as described in Note 2 - SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION while ACL as of December 31, 2019 was calculated in accordance with the prior incurred loss methodology described in our 2019 Form 10-K.
Twelve months ended December 31, 2020 | Multi-family |  | Commercial and industrial |  | Commercial real estate owner occupied |  | Commercial real estate non-owner occupied |  | Construction |  | Residential real estate |  | Manufactured housing |  | Installment |  | Total
(amounts in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Balance, December 31, 2019 | $ | 6,157 |  |  | $ | 15,556 |  |  | $ | 2,235 |  |  | $ | 6,243 |  |  | $ | 1,262 |  |  | $ | 3,218 |  |  | $ | 1,060 |  |  | $ | 20,648 |  |  | $ | 56,379 |
Cumulative effect of change in accounting principle | 2,171 |  |  | 759 |  |  | 5,773 |  |  | 7,918 |  |  | (98) |  |  | 1,518 |  |  | 3,802 |  |  | 57,986 |  |  | 79,829 |
Charge-offs | — |  |  | (3,158) |  |  | (78) |  |  | (25,779) |  |  | — |  |  | (60) |  |  | — |  |  | (32,661) |  |  | (61,736) |
Recoveries | — |  |  | 3,019 |  |  | 28 |  |  | 1,293 |  |  | 128 |  |  | 86 |  |  | — |  |  | 2,376 |  |  | 6,930 |
Provision for credit losses on loans and leases | 4,292 |  |  | (3,937) |  |  | 1,554 |  |  | 29,777 |  |  | 4,579 |  |  | (785) |  |  | 328 |  |  | 26,966 |  |  | 62,774 |
Ending Balance, December 31, 2020 | $ | 12,620 |  |  | $ | 12,239 |  |  | $ | 9,512 |  |  | $ | 19,452 |  |  | $ | 5,871 |  |  | $ | 3,977 |  |  | $ | 5,190 |  |  | $ | 75,315 |  |  | $ | 144,176 |
Twelve months ended December 31, 2019 | Multi-family |  | Commercial and industrial |  | Commercial real estate owner occupied |  | Commercial real estate non-owner occupied |  | Construction |  | Residential real estate |  | Manufactured housing |  | Installment |  | Total
(amounts in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Balance, December 31, 2018 | $ | 11,462 |  |  | $ | 12,145 |  |  | $ | 3,320 |  |  | $ | 6,093 |  |  | $ | 624 |  |  | $ | 3,654 |  |  | $ | 145 |  |  | $ | 2,529 |  |  | $ | 39,972 |
Charge-offs | (541) |  |  | (532) |  |  | (119) |  |  | — |  |  | — |  |  | (297) |  |  | — |  |  | (8,101) |  |  | (9,590) |
Recoveries | 7 |  |  | 1,050 |  |  | 236 |  |  | — |  |  | 136 |  |  | 27 |  |  | — |  |  | 314 |  |  | 1,770 |
Provision for credit losses on loans and leases | (4,771) |  |  | 2,893 |  |  | (1,202) |  |  | 150 |  |  | 502 |  |  | (166) |  |  | 915 |  |  | 25,906 |  |  | 24,227 |
Ending Balance, December 31, 2019 | $ | 6,157 |  |  | $ | 15,556 |  |  | $ | 2,235 |  |  | $ | 6,243 |  |  | $ | 1,262 |  |  | $ | 3,218 |  |  | $ | 1,060 |  |  | $ | 20,648 |  |  | $ | 56,379 |
Analysis of Loans Modified in Troubled Debt Restructuring by Type of Concession | The following table presents loans modified in a TDR by type of concession for the years ended December 31, 2020, 2019 and 2018. There were no modifications that involved forgiveness of debt for the years ended December 31, 2020, 2019 and 2018.
| For the Years Ended December 31,
| 2020 |  | 2019 |  | 2018
(dollars in thousands) | Number of loans |  | Recorded investment |  | Number of loans |  | Recorded investment |  | Number of loans |  | Recorded investment
Extensions of maturity | 6 |  |  | $ | 385 |  |  | 2 |  |  | $ | 514 |  |  | 2 |  |  | $ | 60 |
Interest-rate reductions | 35 |  |  | 1,479 |  |  | 26 |  |  | 923 |  |  | 39 |  |  | 1,615 |
Other (1) | 80 |  |  | $ | 1,813 |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |
Total | 121 |  |  | $ | 3,677 |  |  | 28 |  |  | $ | 1,437 |  |  | 41 |  |  | $ | 1,675 |
(1) Other includes covenant modifications, forbearance, loans discharged under Chapter 7 bankruptcy, or other concessions.
Summary of Loans Modified in Troubled Debt Restructurings and Related Recorded Investment Within Twelve Months | The following table presents, by loan type, the number of loans modified in TDRs and the related recorded investment, for which there was a payment default within twelve months following the modification:
| December 31, 2020 |  | December 31, 2019 |  | December 31, 2018
(dollars in thousands) | Number of loans |  | Recorded investment |  | Number of loans |  | Recorded investment |  | Number of loans |  | Recorded investment
Installment | 15 |  |  | $ | 226 |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |
Residential real estate | 3 |  |  | 152 |  |  | 1 |  |  | 81 |  |  | — |  |  | — |
Manufactured housing | 6 |  |  | 236 |  |  | 3 |  |  | 73 |  |  | 4 |  |  | 92 |
Total loans | 24 |  |  | $ | 614 |  |  | 4 |  |  | $ | 154 |  |  | 4 |  |  | $ | 92 |
Credit Quality Tables | The following tables present the credit ratings of loans and leases receivable as of December 31, 2020 and 2019.
| Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |
(amounts in thousands) | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Revolving loans amortized cost basis |  | Revolving loans converted to term |  | Total
Multi-family loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 150,835 |  |  | $ | 23,716 |  |  | $ | 299,319 |  |  | $ | 535,510 |  |  | $ | 227,296 |  |  | $ | 420,809 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,657,485 |
Special mention | — |  |  | — |  |  | — |  |  | 20,901 |  |  | 10,394 |  |  | 26,708 |  |  | — |  |  | — |  |  | 58,003 |
Substandard | — |  |  | — |  |  | — |  |  | 34,197 |  |  | 8,256 |  |  | 3,360 |  |  | — |  |  | — |  |  | 45,813 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total multi-family loans | $ | 150,835 |  |  | $ | 23,716 |  |  | $ | 299,319 |  |  | $ | 590,608 |  |  | $ | 245,946 |  |  | $ | 450,877 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,761,301 |
Commercial and industrial loans and leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 729,270 |  |  | $ | 373,050 |  |  | $ | 141,943 |  |  | $ | 116,793 |  |  | $ | 45,367 |  |  | $ | 71,502 |  |  | $ | 717,007 |  |  | $ | — |  |  | $ | 2,194,932 |
Special mention | 13,200 |  |  | 1,117 |  |  | 436 |  |  | 113 |  |  | 516 |  |  | 21 |  |  | 17,524 |  |  | — |  |  | 32,927 |
Substandard | 9,968 |  |  | 6,890 |  |  | 19,065 |  |  | 5,901 |  |  | 8,318 |  |  | 2,722 |  |  | 8,718 |  |  | — |  |  | 61,582 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial and industrial loans and leases | $ | 752,438 |  |  | $ | 381,057 |  |  | $ | 161,444 |  |  | $ | 122,807 |  |  | $ | 54,201 |  |  | $ | 74,245 |  |  | $ | 743,249 |  |  | $ | — |  |  | $ | 2,289,441 |
Commercial real estate owner occupied loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 82,343 |  |  | $ | 168,977 |  |  | $ | 72,615 |  |  | $ | 70,642 |  |  | $ | 46,510 |  |  | $ | 91,798 |  |  | $ | 741 |  |  | $ | — |  |  | $ | 533,626 |
Special mention | — |  |  | 4,464 |  |  | — |  |  | 9,056 |  |  | — |  |  | 555 |  |  | — |  |  | — |  |  | 14,075 |
Substandard | — |  |  | 2,848 |  |  | 9,499 |  |  | 342 |  |  | 2,231 |  |  | 9,717 |  |  | — |  |  | — |  |  | 24,637 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial real estate owner occupied loans | $ | 82,343 |  |  | $ | 176,289 |  |  | $ | 82,114 |  |  | $ | 80,040 |  |  | $ | 48,741 |  |  | $ | 102,070 |  |  | $ | 741 |  |  | $ | — |  |  | $ | 572,338 |
Commercial real estate non-owner occupied: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 143,231 |  |  | $ | 105,430 |  |  | $ | 97,882 |  |  | $ | 157,835 |  |  | $ | 155,168 |  |  | $ | 313,559 |  |  | $ | — |  |  | $ | — |  |  | $ | 973,105 |
Special mention | 39,994 |  |  | — |  |  | — |  |  | 66,745 |  |  | 24,218 |  |  | 14,613 |  |  | — |  |  | — |  |  | 145,570 |
Substandard | — |  |  | — |  |  | 17,741 |  |  | 20,611 |  |  | 366 |  |  | 39,171 |  |  | — |  |  | — |  |  | 77,889 |
Doubtful | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial real estate non-owner occupied loans | $ | 183,225 |  |  | $ | 105,430 |  |  | $ | 115,623 |  |  | $ | 245,191 |  |  | $ | 179,752 |  |  | $ | 367,343 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,196,564 |
Construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 19,932 |  |  | $ | 105,466 |  |  | $ | 4,954 |  |  | $ | — |  |  | $ | 9,700 |  |  | $ | — |  |  | $ | 853 |  |  | $ | — |  |  | $ | 140,905 |
Special mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total construction loans | $ | 19,932 |  |  | $ | 105,466 |  |  | $ | 4,954 |  |  | $ | — |  |  | $ | 9,700 |  |  | $ | — |  |  | $ | 853 |  |  | $ | — |  |  | $ | 140,905 |
Total commercial loans and leases receivable | $ | 1,188,773 |  |  | $ | 791,958 |  |  | $ | 663,454 |  |  | $ | 1,038,646 |  |  | $ | 538,340 |  |  | $ | 994,535 |  |  | $ | 744,843 |  |  | $ | — |  |  | $ | 5,960,549 |
Residential real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 6,708 |  |  | $ | 13,617 |  |  | $ | 6,810 |  |  | $ | 10,850 |  |  | $ | 38,143 |  |  | $ | 69,496 |  |  | $ | 161,576 |  |  | $ | — |  |  | $ | 307,200 |
Non-performing | — |  |  | — |  |  | 160 |  |  | 785 |  |  | 1,350 |  |  | 4,395 |  |  | 3,280 |  |  | — |  |  | 9,970 |
Total residential real estate loans | $ | 6,708 |  |  | $ | 13,617 |  |  | $ | 6,970 |  |  | $ | 11,635 |  |  | $ | 39,493 |  |  | $ | 73,891 |  |  | $ | 164,856 |  |  | $ | — |  |  | $ | 317,170 |
Manufactured housing loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | — |  |  | $ | 295 |  |  | $ | 609 |  |  | $ | 76 |  |  | $ | 41 |  |  | $ | 56,837 |  |  | $ | — |  |  | $ | — |  |  | $ | 57,858 |
Non-performing | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,385 |  |  | — |  |  | — |  |  | 4,385 |
Total manufactured housing loans | $ | — |  |  | $ | 295 |  |  | $ | 609 |  |  | $ | 76 |  |  | $ | 41 |  |  | $ | 61,222 |  |  | $ | — |  |  | $ | — |  |  | $ | 62,243 |
Installment loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 319,453 |  |  | $ | 791,235 |  |  | $ | 114,988 |  |  | $ | 4,736 |  |  | $ | 514 |  |  | $ | 1,204 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,232,130 |
Non-performing | 305 |  |  | 2,326 |  |  | 485 |  |  | 41 |  |  | 2 |  |  | 117 |  |  | — |  |  | — |  |  | 3,276 |
Total installment loans | $ | 319,758 |  |  | $ | 793,561 |  |  | $ | 115,473 |  |  | $ | 4,777 |  |  | $ | 516 |  |  | $ | 1,321 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,235,406 |
Total consumer loans | $ | 326,466 |  |  | $ | 807,473 |  |  | $ | 123,052 |  |  | $ | 16,488 |  |  | $ | 40,050 |  |  | $ | 136,434 |  |  | $ | 164,856 |  |  | $ | — |  |  | $ | 1,614,819 |
Loans and leases receivable | $ | 1,515,239 |  |  | $ | 1,599,431 |  |  | $ | 786,506 |  |  | $ | 1,055,134 |  |  | $ | 578,390 |  |  | $ | 1,130,969 |  |  | $ | 909,699 |  |  | $ | — |  |  | $ | 7,575,368 |
| December 31, 2019
(amounts in thousands) | Multi-family |  | Commercial and industrial |  | Commercial real estate owner occupied |  | Commercial real estate non-owner occupied |  | Construction |  | Residential real estate |  | Manufactured housing |  | Installment |  | Total (3)
Pass/Satisfactory | $ | 1,816,200 |  |  | $ | 1,841,074 |  |  | $ | 536,777 |  |  | $ | 1,129,838 |  |  | $ | 118,418 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5,442,307 |
Special Mention | 69,637 |  |  | 26,285 |  |  | 8,286 |  |  | 6,949 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 111,157 |
Substandard | 23,437 |  |  | 22,621 |  |  | 6,944 |  |  | 86,742 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 139,744 |
Performing (1) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 362,962 |  |  | 63,250 |  |  | 1,170,976 |  |  | 1,597,188 |
Non-performing (2) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12,052 |  |  | 7,148 |  |  | 7,307 |  |  | 26,507 |
Total | $ | 1,909,274 |  |  | $ | 1,889,980 |  |  | $ | 552,007 |  |  | $ | 1,223,529 |  |  | $ | 118,418 |  |  | $ | 375,014 |  |  | $ | 70,398 |  |  | $ | 1,178,283 |  |  | $ | 7,316,903 |
(1)Includes residential real estate, manufactured housing, and installment loans not assigned internal ratings. (2)Includes residential real estate, manufactured housing, and installment loans that are past due and still accruing interest or on nonaccrual status. (3)Excludes commercial mortgage warehouse loans reported at fair value
Schedule of Loan Purchases and Sales | Purchases and sales of loans were as follows for the years ended December 31, 2020, 2019 and 2018:
| For the Years Ended December 31,
(amounts in thousands) | 2020 |  | 2019 |  | 2018
Purchases (1) |  |  |  |  |
Residential real estate | $ | 495 |  |  | $ | 105,858 |  |  | $ | 368,402 |
Installment (2) | 269,684 |  |  | 1,058,261 |  |  | 30,066 |
Total | $ | 270,179 |  |  | $ | 1,164,119 |  |  | $ | 398,468 |
Sales (3) |  |  |  |  |
Multi-family | $ | — |  |  | $ | — |  |  | $ | 54,638 |
Commercial and industrial (4) | 6,940 |  |  | 22,267 |  |  | 32,263 |
Commercial real estate owner occupied (4) | — |  |  | 16,320 |  |  | 20,218 |
Commercial real estate non-owner occupied | 17,600 |  |  | — |  |  | — |
Residential real estate | — |  |  | 230,285 |  |  | — |
Installment | 1,822 |  |  | — |  |  | — |
Total | $ | 26,362 |  |  | $ | 268,872 |  |  | $ | 107,119 |
(1)Amounts reported represent the unpaid principal balance at time of purchase. The purchase price was 100.3%, 100.3% and 99.9% of loans outstanding for the years ended December 31, 2020, 2019 and 2018, respectively. (2)Installment loan purchases for the year ended December 31, 2020, 2019 and 2018 consist of third-party originated unsecured consumer loans. None of the loans are considered sub-prime at the time of origination. Customers considers sub-prime borrowers to be those with FICO scores below 660. (3)Amounts reported in the above table are the unpaid principal balance at time of sale. For the years ended December 31, 2020, 2019 and 2018, loan sales resulted in net gains of $2.0 million, $2.8 million and $3.3 million, respectively.

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