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Loans and Leases Receivable and Allowance for Credit Losses on Loans and Leases (Tables)
 12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Schedule of Loans and Leases Receivable
The following table presents loans and leases receivable as of December 31, 2021 and 2020:
December 31,
(amounts in thousands)20212020
Loans receivable, mortgage warehouse, at fair value$2,284,325 $3,616,432 
Loans receivable, PPP3,250,008 4,561,365 
Loans receivable:
Commercial:
Multi-family1,486,308 1,761,301 
Commercial and industrial (1)
3,424,783 2,289,441 
Commercial real estate owner occupied654,922 572,338 
Commercial real estate non-owner occupied1,121,238 1,196,564 
Construction198,981 140,905 
Total commercial loans and leases receivable6,886,232 5,960,549 
Consumer:
Residential real estate334,730 317,170 
Manufactured housing52,861 62,243 
Installment1,744,475 1,235,406 
Total consumer loans receivable2,132,066 1,614,819 
Loans and leases receivable9,018,298 7,575,368 
Allowance for credit losses on loans and leases(137,804)(144,176)
Total loans and leases receivable, net of allowance for credit losses on loans and leases (2)
$14,414,827 $15,608,989 
(1)Includes direct finance equipment leases of $146.5 million and $108.0 million at December 31, 2021 and 2020, respectively.
(2)Includes deferred (fees) costs and unamortized (discounts) premiums, net of $(52.0) million and $(54.6) million at December 31, 2021 and 2020, 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, 2021 and 2020:
December 31, 2021
(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$1,682 $2,707 $18,235 $22,624 $1,463,684 $1,486,308 
Commercial and industrial2,093 95 5,929 8,117 3,416,666 3,424,783 
Commercial real estate owner occupied287 — 1,304 1,591 653,331 654,922 
Commercial real estate non-owner occupied— — 2,815 2,815 1,118,423 1,121,238 
Construction— — — — 198,981 198,981 
Residential real estate4,655 789 4,390 9,834 324,896 334,730 
Manufactured housing2,308 768 4,949 8,025 44,836 52,861 
Installment7,349 4,295 3,783 15,427 1,729,048 1,744,475 
Total$18,374 $8,654 $41,405 $68,433 $8,949,865 $9,018,298 

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 industrial2,257 1,274 3,079 6,610 2,282,831 2,289,441 
Commercial real estate owner occupied864 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 estate6,640 1,827 1,856 10,323 306,847 317,170 
Manufactured housing1,518 673 1,951 4,142 58,101 62,243 
Installment6,161 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 
(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 tables exclude PPP loans of $3.3 billion, of which $6.3 million were 30-59 days past due and $21.8 million were 60 days or more past due as of December 31, 2021. PPP loans of $4.6 billion were all current as of December 31, 2020. Claims for guarantee payments are submitted to the SBA for eligible PPP loans more than 60 days past due.
(3)Includes PCD loans of $9.9 million and $13.4 million at December 31, 2021 and 2020, respectively.
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, 2021 (1)
December 31, 2020 (1)
(amounts in thousands)Nonaccrual loans with no related allowanceNonaccrual loans with related allowanceTotal nonaccrual loansNonaccrual loans with no related allowanceNonaccrual loans with related allowanceTotal nonaccrual loans
Multi-family$22,654 $— $22,654 $18,800 $2,928 $21,728 
Commercial and industrial5,837 259 6,096 6,384 2,069 8,453 
Commercial real estate owner occupied2,475 — 2,475 3,411 — 3,411 
Commercial real estate non-owner occupied2,815 — 2,815 2,356 — 2,356 
Residential real estate7,727 — 7,727 9,911 — 9,911 
Manufactured housing— 3,563 3,563 — 2,969 2,969 
Installment— 3,783 3,783 — 3,211 3,211 
Total$41,508 $7,605 $49,113 $40,862 $11,177 $52,039 
(1) Presented at amortized cost basis.
Schedule of Allowance for Loan Losses
The changes in the ACL for the years ended December 31, 2021 and 2020, and the loans and leases and ACL by loan and lease type are presented in the tables below. ACL as of December 31, 2021 and 2020 is calculated in accordance with the CECL methodology as described in NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION.
Twelve months ended December 31, 2021Multi-familyCommercial and industrialCommercial real estate owner occupiedCommercial real estate non-owner occupiedConstructionResidential real estateManufactured housingInstallmentTotal
(amounts in thousands)
Ending Balance,
December 31, 2020		$12,620 $12,239 $9,512 $19,452 $5,871 $3,977 $5,190 $75,315 $144,176 
Charge-offs(1,132)(1,550)(749)(944)— (130)— (35,876)(40,381)
Recoveries— 1,102 500 84 125 54 — 4,718 6,583 
Provision (benefit) for credit losses on loans and leases(7,011)911 (6,050)(12,382)(5,304)(1,518)(912)59,692 27,426 
Ending Balance,
December 31, 2021		$4,477 $12,702 $3,213 $6,210 $692 $2,383 $4,278 $103,849 $137,804 

Twelve months ended December 31, 2020Multi-familyCommercial and industrialCommercial real estate owner occupiedCommercial real estate non-owner occupiedConstructionResidential real estateManufactured housingInstallmentTotal
(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 principle2,171 759 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 (benefit) for credit losses on loans and leases4,292 (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 
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, 2021, 2020 and 2019. There were no modifications that involved forgiveness of debt for the years ended December 31, 2021, 2020 and 2019.
 For the Years Ended December 31,
202120202019
(dollars in thousands)Number of loansRecorded investmentNumber of loansRecorded investmentNumber of loansRecorded investment
Extensions of maturity— $— 6 $385 2 $514 
Interest-rate reductions17 622 35 1,479 26 923 
Other (1)
185 2,875 80 1,813 — — 
Total202 $3,497 121 $3,677 28 $1,437 
(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, 2021December 31, 2020December 31, 2019
(dollars in thousands)Number of loansRecorded investmentNumber of loansRecorded investmentNumber of loansRecorded investment
Installment21 $263 15 $226 — $— 
Residential real estate1 121 3 152 1 81 
Manufactured housing2 71 6 236 3 73 
Total loans24 $455 24 $614 4 $154 
Credit Quality Tables The following tables present the credit ratings of loans and leases receivable as of December 31, 2021 and 2020.
Term Loans Amortized Cost Basis by Origination Year
(amounts in thousands)20212020201920182017PriorRevolving loans amortized cost basisRevolving loans converted to termTotal
Multi-family loans:
Pass$403,075 $133,452 $23,068 $209,070 $282,663 $316,491 $— $— $1,367,819 
Special mention— — — 9,936 18,489 28,776 — — 57,201 
Substandard— — — — 38,216 23,072 — — 61,288 
Doubtful— — — — — — — — — 
Total multi-family loans$403,075 $133,452 $23,068 $219,006 $339,368 $368,339 $— $— $1,486,308 
Commercial and industrial loans and leases:
Pass$974,016 $337,045 $266,677 $86,691 $55,536 $89,860 $1,484,287 $— $3,294,112 
Special mention476 1,408 3,325 4,904 36,252 92 14,662 — 61,119 
Substandard18,786 10,257 9,543 11,586 5,682 6,764 6,934 — 69,552 
Doubtful— — — — — — — — — 
Total commercial and industrial loans and leases$993,278 $348,710 $279,545 $103,181 $97,470 $96,716 $1,505,883 $— $3,424,783 
Commercial real estate owner occupied loans:
Pass$213,102 $59,348 $124,626 $60,993 $58,073 $99,219 $672 $— $616,033 
Special mention— — 2,876 318 2,044 572 — — 5,810 
Substandard— — 3,750 9,682 8,824 10,823 — — 33,079 
Doubtful— — — — — — — — — 
Total commercial real estate owner occupied loans$213,102 $59,348 $131,252 $70,993 $68,941 $110,614 $672 $— $654,922 
Commercial real estate non-owner occupied:
Pass$136,897 $149,898 $95,504 $66,040 $153,509 $310,435 $— $— $912,283 
Special mention— 21,694 11,113 9,373 43,215 20,540 — — 105,935 
Substandard— — — 35,846 20,516 46,658 — — 103,020 
Doubtful— — — — — — — — 
Total commercial real estate non-owner occupied loans$136,897 $171,592 $106,617 $111,259 $217,240 $377,633 $— $— $1,121,238 
Construction:
Pass$57,105 $49,199 $77,622 $4,828 $— $9,414 $813 $— $198,981 
Special mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful— — — — — — — — — 
Total construction loans$57,105 $49,199 $77,622 $4,828 $— $9,414 $813 $— $198,981 
Total commercial loans and leases receivable$1,803,457 $762,301 $618,104 $509,267 $723,019 $962,716 $1,507,368 $— $6,886,232 
Residential real estate loans:
Performing$107,854 $8,251 $21,096 $11,389 $6,707 $84,035 $87,438 $— $326,770 
Non-performing— — 335 1,015 669 3,587 2,354 — 7,960 
Total residential real estate loans$107,854 $8,251 $21,431 $12,404 $7,376 $87,622 $89,792 $— $334,730 
Manufactured housing loans:
Performing$— $— $253 $299 $73 $47,537 $— $— $48,162 
Non-performing— — — — — 4,699 — — 4,699 
Total manufactured housing loans$— $— $253 $299 $73 $52,236 $— $— $52,861 
Installment loans:
Performing$973,525 $390,788 $341,582 $31,481 $1,601 $1,016 $25 $— $1,740,018 
Non-performing1,162 1,002 2,074 156 2 61 — — 4,457 
Total installment loans$974,687 $391,790 $343,656 $31,637 $1,603 $1,077 $25 $— $1,744,475 
Total consumer loans$1,082,541 $400,041 $365,340 $44,340 $9,052 $140,935 $89,817 $— $2,132,066 
Loans and leases receivable$2,885,998 $1,162,342 $983,444 $553,607 $732,071 $1,103,651 $1,597,185 $— $9,018,298 
Term Loans Amortized Cost Basis by Origination Year
(amounts in thousands)20202019201820172016PriorRevolving loans amortized cost basisRevolving loans converted to termTotal
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 mention13,200 1,117 436 113 516 21 17,524 — 32,927 
Substandard9,968 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 mention39,994 — — 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-performing305 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 
Schedule of Loan Purchases and Sales
Purchases and sales of loans were as follows for the years ended December 31, 2021, 2020 and 2019:
For the Years Ended December 31,
(amounts in thousands)202120202019
Purchases (1)
Loans receivable, PPP$1,536,213 $— $— 
Residential real estate92,939 495 105,858 
Installment (2)
278,070 269,684 1,058,261 
Total$1,907,222 $270,179 $1,164,119 
Sales (3)
Multi-family$36,900 $— $— 
Commercial and industrial (4)
47,142 6,940 22,267 
Commercial real estate owner occupied (4)
19,420 — 16,320 
Commercial real estate non-owner occupied18,366 17,600 — 
Residential real estate63,932 — 230,285 
Installment212,255 1,822 — 
Total$398,015 $26,362 $268,872 
(1)Amounts reported represent the unpaid principal balance at time of purchase. The purchase price was 100.8%, 100.3% and 100.3% of loans outstanding for the years ended December 31, 2021, 2020 and 2019, respectively.
(2)Installment loan purchases for the year ended December 31, 2021, 2020 and 2019 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)For the years ended December 31, 2021, 2020 and 2019, loan sales resulted in net gains of $12.9 million, $2.0 million and $2.8 million, respectively, included in gain (loss) on sale of SBA and other loans and mortgage banking income in the consolidated statements of income.
(4)Primarily sales of SBA loans.