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Loans and Leases Receivable and Allowance for Credit Losses on Loans and Leases (Tables) | 6 Months Ended
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Jun. 30, 2022
Receivables [Abstract] |
Schedule of Loans and Leases Receivable | The following table presents loans and leases receivable as of June 30, 2022 and December 31, 2021.
(amounts in thousands) | June 30, 2022 |  | December 31, 2021
Loans and leases receivable, mortgage warehouse, at fair value | $ | 1,874,603 |  |  | $ | 2,284,325 |
Loans receivable, PPP | 1,570,160 |  |  | 3,250,008 |
Loans and leases receivable: |  |  |
Commercial: |  |  |
Commercial and industrial, including specialty lending (1) | 5,737,670 |  |  | 3,424,783 |
Multi-family | 2,008,784 |  |  | 1,486,308 |
Commercial real estate owner occupied | 710,577 |  |  | 654,922 |
Commercial real estate non-owner occupied | 1,152,869 |  |  | 1,121,238 |
Construction | 195,687 |  |  | 198,981 |
Total commercial loans and leases receivable | 9,805,587 |  |  | 6,886,232 |
Consumer: |  |  |
Residential real estate | 457,768 |  |  | 334,730 |
Manufactured housing | 48,570 |  |  | 52,861 |
Installment | 1,901,070 |  |  | 1,744,475 |
Total consumer loans receivable | 2,407,408 |  |  | 2,132,066 |
Loans and leases receivable | 12,212,995 |  |  | 9,018,298 |
Allowance for credit losses on loans and leases | (156,530) |  |  | (137,804) |
Total loans and leases receivable, net of allowance for credit losses on loans and leases (2) | $ | 15,501,228 |  |  | $ | 14,414,827 |
(1)Includes direct finance equipment leases of $149.2 million and $146.5 million at June 30, 2022 and December 31, 2021, respectively. (2)Includes deferred (fees) costs and unamortized (discounts) premiums, net of $(12.1) million and $(52.0) million at June 30, 2022 and December 31, 2021, respectively.
Loans and Leases Receivable by Loan Type and Performance Status | The following tables summarize loans and leases receivable by loan and lease type and performance status as of June 30, 2022 and December 31, 2021:
| June 30, 2022
(amounts in thousands) | 30-59 Days past due (1) |  | 60-89 Days past due (1) |  | 90 Days or more past due (2) |  | Total past due |  | Loans and leases not past due (3) |  | Total loans and leases (4)
Commercial and industrial, including specialty lending | $ | 340 |  |  | $ | 339 |  |  | $ | 3,918 |  |  | $ | 4,597 |  |  | $ | 5,733,073 |  |  | $ | 5,737,670 |
Multi-family | — |  |  | — |  |  | 1,153 |  |  | 1,153 |  |  | 2,007,631 |  |  | 2,008,784 |
Commercial real estate owner occupied | 857 |  |  | 648 |  |  | 1,149 |  |  | 2,654 |  |  | 707,923 |  |  | 710,577 |
Commercial real estate non-owner occupied | — |  |  | — |  |  | — |  |  | — |  |  | 1,152,869 |  |  | 1,152,869 |
Construction | — |  |  | — |  |  | — |  |  | — |  |  | 195,687 |  |  | 195,687 |
Residential real estate | 2,689 |  |  | 1,513 |  |  | 3,379 |  |  | 7,581 |  |  | 450,187 |  |  | 457,768 |
Manufactured housing | 690 |  |  | 288 |  |  | 3,955 |  |  | 4,933 |  |  | 43,637 |  |  | 48,570 |
Installment | 8,050 |  |  | 5,929 |  |  | 5,965 |  |  | 19,944 |  |  | 1,881,126 |  |  | 1,901,070 |
Total | $ | 12,626 |  |  | $ | 8,717 |  |  | $ | 19,519 |  |  | $ | 40,862 |  |  | $ | 12,172,133 |  |  | $ | 12,212,995 |
| December 31, 2021
(amounts in thousands) | 30-59 Days past due (1) |  | 60-89 Days past due (1) |  | 90 Days or more past due (2) |  | Total past due |  | Loans and leases not past due (3) |  | Total loans and leases (4)
Commercial and industrial, including specialty lending | $ | 2,093 |  |  | $ | 95 |  |  | $ | 5,929 |  |  | $ | 8,117 |  |  | $ | 3,416,666 |  |  | $ | 3,424,783 |
Multi-family | 1,682 |  |  | 2,707 |  |  | 18,235 |  |  | 22,624 |  |  | 1,463,684 |  |  | 1,486,308 |
Commercial real estate owner occupied | 287 |  |  | — |  |  | 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 estate | 4,655 |  |  | 789 |  |  | 4,390 |  |  | 9,834 |  |  | 324,896 |  |  | 334,730 |
Manufactured housing | 2,308 |  |  | 768 |  |  | 4,949 |  |  | 8,025 |  |  | 44,836 |  |  | 52,861 |
Installment | 7,349 |  |  | 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 |
(1)Includes past due loans and leases that are accruing interest because collection is considered probable. (2)Includes loans amounting to $1.5 million and $1.4 million as of June 30, 2022 and December 31, 2021, respectively, that are still accruing interest because collection is considered probable. (3)Loans and leases where next payment due is less than 30 days from the report date. The tables exclude PPP loans of $1.6 billion, of which $3.3 million were 30-59 days past due and $33.4 million were 60 days or more past due as of June 30, 2022, and 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. Claims for guarantee payments are submitted to the SBA for eligible PPP loans more than 60 days past due. (4)Includes PCD loans of $9.0 million and $9.9 million at June 30, 2022 and December 31, 2021, 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.
| June 30, 2022 (1) |  | December 31, 2021 (1) |  |  |  |
(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 |  |  |  |  |  |  |  |
Commercial and industrial, including specialty lending | $ | 4,061 |  |  | $ | — |  |  | $ | 4,061 |  |  | $ | 5,837 |  |  | $ | 259 |  |  | $ | 6,096 |  |  |  |  |  |  |  |  |
Multi-family | 1,153 |  |  | — |  |  | 1,153 |  |  | 22,654 |  |  | — |  |  | 22,654 |  |  |  |  |  |  |  |  |
Commercial real estate owner occupied | 2,913 |  |  | — |  |  | 2,913 |  |  | 2,475 |  |  | — |  |  | 2,475 |  |  |  |  |  |  |  |  |
Commercial real estate non-owner occupied | — |  |  | — |  |  | — |  |  | 2,815 |  |  | — |  |  | 2,815 |  |  |  |  |  |  |  |  |
Residential real estate | 6,258 |  |  | — |  |  | 6,258 |  |  | 7,727 |  |  | — |  |  | 7,727 |  |  |  |  |  |  |  |  |
Manufactured housing | — |  |  | 3,071 |  |  | 3,071 |  |  | — |  |  | 3,563 |  |  | 3,563 |  |  |  |  |  |  |  |  |
Installment | — |  |  | 5,965 |  |  | 5,965 |  |  | — |  |  | 3,783 |  |  | 3,783 |  |  |  |  |  |  |  |  |
Total | $ | 14,385 |  |  | $ | 9,036 |  |  | $ | 23,421 |  |  | $ | 41,508 |  |  | $ | 7,605 |  |  | $ | 49,113 |  |  |  |  |  |  |  |  |
(1) Presented at amortized cost basis.
Schedule of Allowance for Credit Losses on Loans and Leases | The changes in the ACL on loans and leases by loan and lease type for the three and six months ended June 30, 2022 and 2021 are presented in the tables below.
(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
Three Months Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance, March 31, 2022 | $ | 7,437 |  |  | $ | 10,765 |  |  | $ | 3,841 |  |  | $ | 5,955 |  |  | $ | 939 |  |  | $ | 4,685 |  |  | $ | 4,342 |  |  | $ | 107,883 |  |  |  |  | $ | 145,847 |
Charge-offs | (1,990) |  |  | (276) |  |  | — |  |  | (163) |  |  | — |  |  | — |  |  | — |  |  | (12,851) |  |  |  |  | (15,280) |
Recoveries | — |  |  | 692 |  |  | 42 |  |  | 4 |  |  | 103 |  |  | 39 |  |  | — |  |  | 919 |  |  |  |  | 1,799 |
Provision (benefit) for credit losses on loans and leases | 4,318 |  |  | (100) |  |  | 862 |  |  | 3,084 |  |  | 137 |  |  | 854 |  |  | (262) |  |  | 15,271 |  |  |  |  | 24,164 |
Ending Balance, June 30, 2022 | $ | 9,765 |  |  | $ | 11,081 |  |  | $ | 4,745 |  |  | $ | 8,880 |  |  | $ | 1,179 |  |  | $ | 5,578 |  |  | $ | 4,080 |  |  | $ | 111,222 |  |  |  |  | $ | 156,530 |
Six Months Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Balance, December 31, 2021 | $ | 4,477 |  |  | $ | 12,702 |  |  | $ | 3,213 |  |  | $ | 6,210 |  |  | $ | 692 |  |  | $ | 2,383 |  |  | $ | 4,278 |  |  | $ | 103,849 |  |  |  |  | $ | 137,804 |
Charge-offs | (1,990) |  |  | (578) |  |  | — |  |  | (163) |  |  | — |  |  | (4) |  |  | — |  |  | (21,716) |  |  |  |  | (24,451) |
Recoveries | 337 |  |  | 1,053 |  |  | 49 |  |  | 12 |  |  | 216 |  |  | 45 |  |  | — |  |  | 2,032 |  |  |  |  | 3,744 |
Provision (benefit) for credit losses on loans and leases | 6,941 |  |  | (2,096) |  |  | 1,483 |  |  | 2,821 |  |  | 271 |  |  | 3,154 |  |  | (198) |  |  | 27,057 |  |  |  |  | 39,433 |
Ending Balance, June 30, 2022 | $ | 9,765 |  |  | $ | 11,081 |  |  | $ | 4,745 |  |  | $ | 8,880 |  |  | $ | 1,179 |  |  | $ | 5,578 |  |  | $ | 4,080 |  |  | $ | 111,222 |  |  |  |  | $ | 156,530 |
(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
Three Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance, March 31, 2021 | $ | 8,026 |  |  | $ | 7,503 |  |  | $ | 5,935 |  |  | $ | 11,621 |  |  | $ | 4,103 |  |  | $ | 3,209 |  |  | $ | 4,800 |  |  | $ | 83,539 |  |  |  |  | $ | 128,736 |
Charge-offs | — |  |  | (2) |  |  | (1) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (7,958) |  |  |  |  | (7,961) |
Recoveries | — |  |  | 285 |  |  | 2 |  |  | 59 |  |  | 114 |  |  | 12 |  |  | — |  |  | 898 |  |  |  |  | 1,370 |
Provision (benefit) for credit losses on loan and lease losses | (2,998) |  |  | 341 |  |  | (1,472) |  |  | (4,306) |  |  | (1,574) |  |  | (922) |  |  | (428) |  |  | 14,650 |  |  |  |  | 3,291 |
Ending Balance, June 30, 2021 | $ | 5,028 |  |  | $ | 8,127 |  |  | $ | 4,464 |  |  | $ | 7,374 |  |  | $ | 2,643 |  |  | $ | 2,299 |  |  | $ | 4,372 |  |  | $ | 91,129 |  |  |  |  | $ | 125,436 |
Six Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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) |  |  | (637) |  |  | (142) |  |  | — |  |  | — |  |  | (50) |  |  | — |  |  | (20,645) |  |  |  |  | (22,606) |
Recoveries | — |  |  | 545 |  |  | 9 |  |  | 69 |  |  | 119 |  |  | 22 |  |  | — |  |  | 2,730 |  |  |  |  | 3,494 |
Provision (benefit) for credit losses on loan and lease losses | (6,460) |  |  | (4,020) |  |  | (4,915) |  |  | (12,147) |  |  | (3,347) |  |  | (1,650) |  |  | (818) |  |  | 33,729 |  |  |  |  | 372 |
Ending Balance, June 30, 2021 | $ | 5,028 |  |  | $ | 8,127 |  |  | $ | 4,464 |  |  | $ | 7,374 |  |  | $ | 2,643 |  |  | $ | 2,299 |  |  | $ | 4,372 |  |  | $ | 91,129 |  |  |  |  | $ | 125,436 |
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 three and six months ended June 30, 2022 and 2021. There were no modifications that involved forgiveness of debt for the three and six months ended June 30, 2022 and 2021.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
(dollars in thousands) | Number of loans |  | Recorded investment |  | Number of loans |  | Recorded investment |  | Number of loans |  | Recorded investment |  | Number of loans |  | Recorded investment
Interest-rate reductions | 4 |  |  | $ | 124 |  |  | 4 |  |  | $ | 157 |  |  | 14 |  |  | $ | 470 |  |  | 12 |  |  | $ | 341 |
Other (1) | 67 |  |  | 743 |  |  | 99 |  |  | 1,141 |  |  | 99 |  |  | 1,194 |  |  | 119 |  |  | 1,682 |
Total | 71 |  |  | $ | 867 |  |  | 103 |  |  | $ | 1,298 |  |  | 113 |  |  | $ | 1,664 |  |  | 131 |  |  | $ | 2,023 |
(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:
| June 30, 2022 |  | June 30, 2021 |  |
(dollars in thousands) | Number of loans |  | Recorded investment |  | Number of loans |  | Recorded investment |  |  |  |
Manufactured housing | 4 |  |  | $ | 94 |  |  | 7 |  |  | $ | 189 |  |  |  |  |
Residential real estate | 1 |  |  | 119 |  |  | 1 |  |  | 43 |  |  |  |  |
Installment | 38 |  |  | 473 |  |  | 15 |  |  | 247 |  |  |  |  |
Total loans | 43 |  |  | $ | 686 |  |  | 23 |  |  | $ | 479 |  |  |  |  |
Credit Ratings of Covered and Non-Covered Loan Portfolio | The following tables present the credit ratings of loans and leases receivable as of June 30, 2022 and December 31, 2021.
| Term Loans Amortized Cost Basis by Origination Year as of June 30, 2022 |  |  |  |  |  |
(amounts in thousands) | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  | Revolving loans amortized cost basis |  | Revolving loans converted to term |  | Total
Commercial and industrial loans and leases, including specialty lending: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 2,288,409 |  |  | $ | 600,191 |  |  | $ | 305,601 |  |  | $ | 231,819 |  |  | $ | 79,656 |  |  | $ | 116,210 |  |  | $ | 2,006,671 |  |  | $ | — |  |  | $ | 5,628,557 |
Special mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 380 |  |  | 3,222 |  |  | — |  |  | 3,602 |
Substandard | — |  |  | 21,825 |  |  | 9,691 |  |  | 8,652 |  |  | 12,601 |  |  | 43,664 |  |  | 9,078 |  |  | — |  |  | 105,511 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial and industrial loans and leases | $ | 2,288,409 |  |  | $ | 622,016 |  |  | $ | 315,292 |  |  | $ | 240,471 |  |  | $ | 92,257 |  |  | $ | 160,254 |  |  | $ | 2,018,971 |  |  | $ | — |  |  | $ | 5,737,670 |
Multi-family loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 882,267 |  |  | $ | 399,236 |  |  | $ | 131,741 |  |  | $ | 22,663 |  |  | $ | 119,914 |  |  | $ | 329,640 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,885,461 |
Special mention | — |  |  | — |  |  | — |  |  | — |  |  | 5,009 |  |  | 66,748 |  |  | — |  |  | — |  |  | 71,757 |
Substandard | — |  |  | 1,515 |  |  | — |  |  | — |  |  | — |  |  | 50,051 |  |  | — |  |  | — |  |  | 51,566 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total multi-family loans | $ | 882,267 |  |  | $ | 400,751 |  |  | $ | 131,741 |  |  | $ | 22,663 |  |  | $ | 124,923 |  |  | $ | 446,439 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,008,784 |
Commercial real estate owner occupied loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 129,586 |  |  | $ | 203,769 |  |  | $ | 58,688 |  |  | $ | 116,646 |  |  | $ | 41,654 |  |  | $ | 137,023 |  |  | $ | 672 |  |  | $ | — |  |  | $ | 688,038 |
Special mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,880 |  |  | — |  |  | — |  |  | 3,880 |
Substandard | — |  |  | — |  |  | — |  |  | 134 |  |  | 9,544 |  |  | 8,981 |  |  | — |  |  | — |  |  | 18,659 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial real estate owner occupied loans | $ | 129,586 |  |  | $ | 203,769 |  |  | $ | 58,688 |  |  | $ | 116,780 |  |  | $ | 51,198 |  |  | $ | 149,884 |  |  | $ | 672 |  |  | $ | — |  |  | $ | 710,577 |
Commercial real estate non-owner occupied: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 134,207 |  |  | $ | 120,804 |  |  | $ | 146,492 |  |  | $ | 75,872 |  |  | $ | 64,787 |  |  | $ | 415,941 |  |  | $ | — |  |  | $ | — |  |  | $ | 958,103 |
Special mention | — |  |  | — |  |  | 21,454 |  |  | — |  |  | — |  |  | 5,873 |  |  | — |  |  | — |  |  | 27,327 |
Substandard | — |  |  | — |  |  | — |  |  | 29,008 |  |  | 38,246 |  |  | 100,185 |  |  | — |  |  | — |  |  | 167,439 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial real estate non-owner occupied loans | $ | 134,207 |  |  | $ | 120,804 |  |  | $ | 167,946 |  |  | $ | 104,880 |  |  | $ | 103,033 |  |  | $ | 521,999 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,152,869 |
Construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 44,282 |  |  | $ | 81,791 |  |  | $ | 17,939 |  |  | $ | 29,061 |  |  | $ | 4,760 |  |  | $ | 9,243 |  |  | $ | 8,611 |  |  | $ | — |  |  | $ | 195,687 |
Special mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total construction loans | $ | 44,282 |  |  | $ | 81,791 |  |  | $ | 17,939 |  |  | $ | 29,061 |  |  | $ | 4,760 |  |  | $ | 9,243 |  |  | $ | 8,611 |  |  | $ | — |  |  | $ | 195,687 |
Total commercial loans and leases receivable | $ | 3,478,751 |  |  | $ | 1,429,131 |  |  | $ | 691,606 |  |  | $ | 513,855 |  |  | $ | 376,171 |  |  | $ | 1,287,819 |  |  | $ | 2,028,254 |  |  | $ | — |  |  | $ | 9,805,587 |
Residential real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 113,101 |  |  | $ | 142,389 |  |  | $ | 7,526 |  |  | $ | 16,970 |  |  | $ | 10,374 |  |  | $ | 76,795 |  |  | $ | 84,904 |  |  | $ | — |  |  | $ | 452,059 |
Non-performing | — |  |  | — |  |  | — |  |  | 382 |  |  | 1,264 |  |  | 3,128 |  |  | 935 |  |  | — |  |  | 5,709 |
Total residential real estate loans | $ | 113,101 |  |  | $ | 142,389 |  |  | $ | 7,526 |  |  | $ | 17,352 |  |  | $ | 11,638 |  |  | $ | 79,923 |  |  | $ | 85,839 |  |  | $ | — |  |  | $ | 457,768 |
Manufactured housing loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 220 |  |  | $ | 171 |  |  | $ | 45,271 |  |  | $ | — |  |  | $ | — |  |  | $ | 45,662 |
Non-performing | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,908 |  |  | — |  |  | — |  |  | 2,908 |
Total manufactured housing loans | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 220 |  |  | $ | 171 |  |  | $ | 48,179 |  |  | $ | — |  |  | $ | — |  |  | $ | 48,570 |
Installment loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 553,321 |  |  | $ | 774,689 |  |  | $ | 265,103 |  |  | $ | 202,825 |  |  | $ | 19,122 |  |  | $ | 1,471 |  |  | $ | 78,600 |  |  | $ | — |  |  | $ | 1,895,131 |
Non-performing | 138 |  |  | 3,421 |  |  | 1,000 |  |  | 1,066 |  |  | 172 |  |  | 61 |  |  | 81 |  |  | — |  |  | 5,939 |
Total installment loans | $ | 553,459 |  |  | $ | 778,110 |  |  | $ | 266,103 |  |  | $ | 203,891 |  |  | $ | 19,294 |  |  | $ | 1,532 |  |  | $ | 78,681 |  |  | $ | — |  |  | $ | 1,901,070 |
Total consumer loans | $ | 666,560 |  |  | $ | 920,499 |  |  | $ | 273,629 |  |  | $ | 221,463 |  |  | $ | 31,103 |  |  | $ | 129,634 |  |  | $ | 164,520 |  |  | $ | — |  |  | $ | 2,407,408 |
Loans and leases receivable | $ | 4,145,311 |  |  | $ | 2,349,630 |  |  | $ | 965,235 |  |  | $ | 735,318 |  |  | $ | 407,274 |  |  | $ | 1,417,453 |  |  | $ | 2,192,774 |  |  | $ | — |  |  | $ | 12,212,995 |
| Term Loans Amortized Cost Basis by Origination Year as of December 31, 2021 |  |  |  |  |  |
(amounts in thousands) | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Revolving loans amortized cost basis |  | Revolving loans converted to term |  | Total
Commercial and industrial loans and leases, including specialty lending: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 974,016 |  |  | $ | 337,045 |  |  | $ | 266,677 |  |  | $ | 86,691 |  |  | $ | 55,536 |  |  | $ | 89,860 |  |  | $ | 1,484,287 |  |  | $ | — |  |  | $ | 3,294,112 |
Special mention | 476 |  |  | 1,408 |  |  | 3,325 |  |  | 4,904 |  |  | 36,252 |  |  | 92 |  |  | 14,662 |  |  | — |  |  | 61,119 |
Substandard | 18,786 |  |  | 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 |
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 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-performing | 1,162 |  |  | 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 |
Schedule of Loan Purchases and Sales | Purchases and sales of loans were as follows for the three and six months ended June 30, 2022 and 2021:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(amounts in thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Purchases (1) |  |  |  |  |  |  |
Loans receivable, PPP | $ | — |  |  | $ | 460,456 |  |  | $ | — |  |  | $ | 621,487 |
Residential real estate | 8,081 |  |  | — |  |  | 154,955 |  |  | — |
Installment (2) | 16,551 |  |  | — |  |  | 76,007 |  |  | 115,849 |
Total | $ | 24,632 |  |  | $ | 460,456 |  |  | $ | 230,962 |  |  | $ | 737,336 |
Sales (3) |  |  |  |  |  |  |
Multi-family | $ | 2,879 |  |  | $ | 19,443 |  |  | $ | 2,879 |  |  | $ | 19,443 |
Commercial and industrial | 14,040 |  |  | 10,059 |  |  | 22,880 |  |  | 28,990 |
Commercial real estate owner occupied | 3,519 |  |  | 4,461 |  |  | 8,960 |  |  | 6,698 |
Commercial real estate non-owner occupied | — |  |  | — |  |  | — |  |  | 18,366 |
Residential real estate | — |  |  | 11,623 |  |  | — |  |  | 28,186 |
Installment | — |  |  | 28,818 |  |  | — |  |  | 28,818 |
Total | $ | 20,438 |  |  | $ | 74,404 |  |  | $ | 34,719 |  |  | $ | 130,501 |
(1)Amounts reported in the above table are the unpaid principal balance at time of purchase. The purchase price was 98.9% and 102.0% of loans outstanding for the three months ended June 30, 2022 and 2021, respectively. The purchase price was 98.2% and 103.0% of loans outstanding for the six months ended June 30, 2022 and 2021, respectively. (2)Installment loan purchases for the three and six months ended June 30, 2022 and 2021 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 three months ended June 30, 2022 and 2021, loan sales resulted in net gains of $1.5 million and $2.2 million, respectively, included in gain (loss) on sale of SBA and other loans in the consolidated statements of income. For the six months ended June 30, 2022 and 2021, loan sales resulted in net gains of $3.6 million and $4.3 million, respectively.

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