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Loans and Leases Receivable and Allowance for Credit Losses on Loans and Leases (Tables)
 3 Months Ended
Mar. 31, 2023
Receivables [Abstract]  
Schedule of Loans and Leases Receivable
The following table presents loans and leases receivable as of March 31, 2023 and December 31, 2022.
(amounts in thousands)March 31, 2023December 31, 2022
Loans and leases receivable, mortgage warehouse, at fair value$1,247,367 $1,323,312 
Loans receivable, PPP246,258 998,153 
Loans and leases receivable:
Commercial:
Commercial and industrial:
Specialty lending (1)
5,519,176 5,412,887 
Other commercial and industrial1,295,688 1,259,943 
Multifamily2,195,211 2,213,019 
Commercial real estate owner occupied895,314 885,339 
Commercial real estate non-owner occupied1,245,248 1,290,730 
Construction188,123 162,009 
Total commercial loans and leases receivable11,338,760 11,223,927 
Consumer:
Residential real estate494,815 497,952 
Manufactured housing43,272 45,076 
Installment:
Personal849,420 964,641 
Other419,085 413,298 
Total consumer loans receivable1,806,592 1,920,967 
Loans and leases receivable13,145,352 13,144,894 
Allowance for credit losses on loans and leases(130,281)(130,924)
Total loans and leases receivable, net of allowance for credit losses on loans and leases (2)
$14,508,696 $15,335,435 
(1)Includes direct finance equipment leases of $168.8 million and $157.4 million at March 31, 2023 and December 31, 2022, respectively.
(2)Includes deferred (fees) costs and unamortized (discounts) premiums, net of $(0.7) million and $(21.5) million at March 31, 2023 and December 31, 2022, 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 March 31, 2023 and December 31, 2022:
 March 31, 2023
(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$1,158 $172 $3,422 $4,752 $6,810,112 $6,814,864 
Multifamily— 5,189 881 6,070 2,189,141 2,195,211 
Commercial real estate owner occupied2,412 — 3,563 5,975 889,339 895,314 
Commercial real estate non-owner occupied— — 11 11 1,245,237 1,245,248 
Construction— — — — 188,123 188,123 
Residential real estate6,808 420 2,563 9,791 485,024 494,815 
Manufactured housing819 771 3,333 4,923 38,349 43,272 
Installment11,393 8,257 8,720 28,370 1,240,135 1,268,505 
Total$22,590 $14,809 $22,493 $59,892 $13,085,460 $13,145,352 
 December 31, 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$3,123 $717 $1,415 $5,255 $6,667,575 $6,672,830 
Multifamily10,684 5,217 1,143 17,044 2,195,975 2,213,019 
Commercial real estate owner occupied5,173 — 2,704 7,877 877,462 885,339 
Commercial real estate non-owner occupied2,136 — 11 2,147 1,288,583 1,290,730 
Construction— — — — 162,009 162,009 
Residential real estate5,208 1,157 3,158 9,523 488,429 497,952 
Manufactured housing901 537 3,346 4,784 40,292 45,076 
Installment11,246 7,942 9,527 28,715 1,349,224 1,377,939 
Total$38,471 $15,570 $21,304 $75,345 $13,069,549 $13,144,894 
(1)Includes past due loans and leases that are accruing interest because collection is considered probable.
(2)Includes loans amounting to $1.7 million and $1.9 million as of March 31, 2023 and December 31, 2022, 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 $246.3 million, of which $0.8 million were 30-59 days past due and $117.9 million were 60 days or more past due as of March 31, 2023, and PPP loans of $998.2 million, of which $0.6 million were 30-59 days past due and $36.0 million were 60 days or more past due as of December 31, 2022. Claims for guarantee payments are submitted to the SBA for eligible PPP loans more than 60 days past due.
(4)Includes PCD loans of $7.9 million and $8.3 million at March 31, 2023 and December 31, 2022, 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.
 
March 31, 2023 (1)
December 31, 2022 (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
Commercial and industrial, including specialty lending$3,742 $144 $3,886 $1,731 $30 $1,761 
Multifamily881 — 881 1,143 — 1,143 
Commercial real estate owner occupied3,621 — 3,621 2,768 — 2,768 
Residential real estate6,473 — 6,473 6,922 — 6,922 
Manufactured housing— 2,568 2,568 — 2,410 2,410 
Installment— 8,720 8,720 — 9,527 9,527 
Total$14,717 $11,432 $26,149 $12,564 $11,967 $24,531 
(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 months ended March 31, 2023 and 2022 are presented in the tables below.
(amounts in thousands)
Commercial and industrial (1)
MultifamilyCommercial real estate owner occupiedCommercial real estate non-owner occupiedConstructionResidential real estateManufactured housingInstallmentTotal
Three Months Ended
March 31, 2023
Ending Balance,
December 31, 2022		$17,582 $14,541 $6,454 $11,219 $1,913 $6,094 $4,430 $68,691 $130,924 
Charge-offs(160)— — (4,239)— — — (16,715)(21,114)
Recoveries231 — — 5 116 2 — 2,109 2,463 
Provision (benefit) for credit losses on loans and leases2,397 543 2,018 4,047 307 757 (91)8,030 18,008 
Ending Balance,
March 31, 2023		$20,050 $15,084 $8,472 $11,032 $2,336 $6,853 $4,339 $62,115 $130,281 
(amounts in thousands)
Commercial and industrial (1)
MultifamilyCommercial real estate owner occupiedCommercial real estate non-owner occupiedConstructionResidential real estateManufactured housingInstallmentTotal
Three Months Ended
March 31, 2022
Ending Balance,
December 31, 2021		$12,702 $4,477 $3,213 $6,210 $692 $2,383 $4,278 $103,849 $137,804 
Charge-offs(301)— — — — (4)— (8,865)(9,170)
Recoveries360 337 7 8 113 6 — 1,113 1,944 
Provision (benefit) for credit losses on loans and leases(1,996)2,623 621 (263)134 2,300 64 11,786 15,269 
Ending Balance,
March 31, 2022		$10,765 $7,437 $3,841 $5,955 $939 $4,685 $4,342 $107,883 $145,847 
(1) Includes specialty lending.
Summary of Loans Modified in Troubled Debt Restructurings and Related Recorded Investment The following table presents the amortized cost of loans that were modified to borrowers experiencing financial difficulty for the three months ended March 31, 2023, disaggregated by class of financing receivable and type of modification granted.
Three Months Ended March 31, 2023
(dollars in thousands)Term ExtensionPayment DeferralDebt ForgivenessInterest Rate Reduction and Term ExtensionTotalPercentage of Total by Financing Class
Commercial and industrial, including specialty lending$172 $— $— $— $172 0.00 %
Commercial real estate owner occupied169 — — — 169 0.02 %
Manufactured housing7 — — 63 70 0.16 %
Personal installment4,833 131 114 — 5,078 0.60 %
Total$5,181 $131 $114 $63 $5,489 
The following table summarizes the impacts of loan modifications made to borrowers experiencing financial difficulty for the three months ended March 31, 2023.
Three Months Ended March 31, 2023
Weighted Average
(dollars in thousands)Interest Rate Reduction (%)Term Extension
(in months)		Payment Deferral
(in months)		Debt Forgiven
Commercial and industrial, including specialty lending—%40$— 
Commercial real estate owner occupied—40— 
Manufactured housing0.8550— 
Personal installment—5666 
The performance of loans made to borrowers experiencing financial difficulty in which modifications were made is closely monitored to understand the effectiveness of modification efforts. Loans are considered to be in payment default at 90 days or more past due. The following table presents an aging analysis of loan modifications made to borrowers experiencing financial difficulty during the three months ended March 31, 2023.
March 31, 2023
(dollars in thousands)30-59 Days past due60-89 Days past due90 Days or more past dueCurrentTotal
Commercial and industrial, including specialty lending$— $172 $— $— $172 
Commercial real estate owner occupied— — 169 — 169 
Manufactured housing— — — 70 70 
Personal installment202 44 21 4,811 5,078 
Total$202 $216 $190 $4,881 $5,489 
The following table presents loans modified by type of concession for the three months ended March 31, 2022. There were no modifications that involved forgiveness of debt for the three months ended March 31, 2022.
Three Months Ended March 31, 2022
(dollars in thousands)Number of loansRecorded investment
Interest-rate reductions10 $346 
Other (1)
32 451 
Total42 $797 
(1) Other includes covenant modifications, forbearance, loans discharged under Chapter 7 bankruptcy, or other concessions.
Financing Receivable, Modified, Subsequent Default 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.
March 31, 2022
(dollars in thousands)Number of loansRecorded investment
Manufactured housing1 $49 
Installment23 276 
Total loans24 $325 
Credit Ratings of Covered and Non-Covered Loan Portfolio The following tables present the credit ratings of loans and leases receivable and current period gross write-offs as of March 31, 2023 and December 31, 2022.
Term Loans Amortized Cost Basis by Origination Year as of
March 31, 2023
(amounts in thousands)20232022202120202019PriorRevolving loans amortized cost basisRevolving loans converted to termTotal
Commercial and industrial loans and leases, including specialty lending:
Pass$706,320 $2,821,406 $610,166 $205,708 $169,511 $116,433 $1,969,270 $78,949 $6,677,763 
Special mention6,000 10,967 355 23,813 — 1,637 1,795 215 44,782 
Substandard— 3,000 23,696 4,672 8,327 44,779 7,845 — 92,319 
Doubtful— — — — — — — — — 
Total commercial and industrial loans and leases$712,320 $2,835,373 $634,217 $234,193 $177,838 $162,849 $1,978,910 $79,164 $6,814,864 
Commercial and industrial loans and leases charge-offs:
Three Months Ended March 31, 2023$— $— $7 $— $— $153 $— $— $160 
Multifamily loans:
Pass$— $1,255,264 $361,915 $129,659 $21,944 $324,392 $— $— $2,093,174 
Special mention— — — — — 60,200 — — 60,200 
Substandard— — 1,492 — — 40,345 — — 41,837 
Doubtful— — — — — — — — — 
Total multifamily loans$— $1,255,264 $363,407 $129,659 $21,944 $424,937 $— $— $2,195,211 
Multifamily loans charge-offs:
Three Months Ended March 31, 2023$— $— $— $— $— $— $— $— $— 
Commercial real estate owner occupied loans:
Pass$24,001 $304,107 $206,692 $107,215 $91,158 $142,199 $— $— $875,372 
Special mention— — — — 350 1,962 — — 2,312 
Substandard— — — — 134 17,496 — — 17,630 
Doubtful— — — — — — — — 
Total commercial real estate owner occupied loans$24,001 $304,107 $206,692 $107,215 $91,642 $161,657 $— $— $895,314 
Commercial real estate owner occupied loans charge-offs:
Three Months Ended March 31, 2023$— $— $— $— $— $— $— $— $— 
Commercial real estate non-owner occupied:
Pass$668 $332,095 $116,170 $152,613 $71,417 $421,225 $— $— $1,094,188 
Special mention— — — 21,083 — 8,609 — — 29,692 
Substandard— 10,910 — — 28,473 81,985 — — 121,368 
Doubtful— — — — — — — — — 
Total commercial real estate non-owner occupied loans$668 $343,005 $116,170 $173,696 $99,890 $511,819 $— $— $1,245,248 
Commercial real estate non-owner occupied loans charge-offs:
Three Months Ended March 31, 2023$— $— $— $— $— $4,239 $— $— $4,239 
Construction:
Pass$— $93,193 $41,077 $9,918 $28,512 $13,755 $568 $1,100 $188,123 
Special mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful— — — — — — — — — 
Total construction loans$— $93,193 $41,077 $9,918 $28,512 $13,755 $568 $1,100 $188,123 
Construction loans charge-offs:
Three Months Ended March 31, 2023$— $— $— $— $— $— $— $— $— 
Total commercial loans and leases receivable$736,989 $4,830,942 $1,361,563 $654,681 $419,826 $1,275,017 $1,979,478 $80,264 $11,338,760 
Term Loans Amortized Cost Basis by Origination Year as of
March 31, 2023
(amounts in thousands)20232022202120202019PriorRevolving loans amortized cost basisRevolving loans converted to termTotal
Commercial loans and leases receivable charge-offs:
Three Months Ended March 31, 2023$— $— $7 $— $— $4,392 $— $— $4,399 
Residential real estate loans:
Performing$2,825 $172,464 $151,252 $6,690 $15,856 $74,745 $64,870 $— $488,702 
Non-performing— 271 457 234 434 4,282 435 — 6,113 
Total residential real estate loans$2,825 $172,735 $151,709 $6,924 $16,290 $79,027 $65,305 $— $494,815 
Residential real estate loans charge-offs:
Three Months Ended March 31, 2023$— $— $— $— $— $— $— $— $— 
Manufactured housing loans:
Performing$— $— $— $— $— $40,173 $— $— $40,173 
Non-performing— — — — 211 2,888 — — 3,099 
Total manufactured housing loans$— $— $— $— $211 $43,061 $— $— $43,272 
Manufactured housing loans charge-offs:
Three Months Ended March 31, 2023$— $— $— $— $— $— $— $— $— 
Installment loans:
Performing$38,376 $602,558 $338,980 $105,550 $103,290 $8,934 $60,349 $— $1,258,037 
Non-performing— 5,426 3,007 737 1,035 156 107 — 10,468 
Total installment loans$38,376 $607,984 $341,987 $106,287 $104,325 $9,090 $60,456 $— $1,268,505 
Installment loans charge-offs:
Three Months Ended March 31, 2023$1,724 $4,192 $6,856 $1,655 $1,933 $355 $— $— $16,715 
Total consumer loans$41,201 $780,719 $493,696 $113,211 $120,826 $131,178 $125,761 $— $1,806,592 
Consumer loans charge-offs:
Three Months Ended March 31, 2023$1,724 $4,192 $6,856 $1,655 $1,933 $355 $— $— $16,715 
Loans and leases receivable$778,190 $5,611,661 $1,855,259 $767,892 $540,652 $1,406,195 $2,105,239 $80,264 $13,145,352 
Loans and leases receivable charge-offs:
Three Months Ended March 31, 2023$1,724 $4,192 $6,863 $1,655 $1,933 $4,747 $— $— $21,114 
Term Loans Amortized Cost Basis by Origination Year as of December 31, 2022
(amounts in thousands)20222021202020192018PriorRevolving loans amortized cost basisRevolving loans converted to termTotal
Commercial and industrial loans and leases, including specialty lending:
Pass$3,206,250 $682,132 $242,516 $198,866 $56,572 $83,417 $2,066,349 $— $6,536,102 
Special mention11,134 6,023 27,780 — 1,501 172 2,599 — 49,209 
Substandard— 22,917 967 8,431 6,713 39,554 8,937 — 87,519 
Doubtful— — — — — — — — — 
Total commercial and industrial loans and leases$3,217,384 $711,072 $271,263 $207,297 $64,786 $123,143 $2,077,885 $— $6,672,830 
Multifamily loans:
Pass$1,260,544 $364,047 $130,656 $22,167 $112,212 $203,215 $— $— $2,092,841 
Special mention— — — — 4,959 50,858 — — 55,817 
Substandard— 1,500 — — — 62,861 — — 64,361 
Doubtful— — — — — — — — — 
Total multifamily loans$1,260,544 $365,547 $130,656 $22,167 $117,171 $316,934 $— $— $2,213,019 
Commercial real estate owner occupied loans:
Pass$293,096 $220,515 $105,925 $90,752 $34,196 $121,616 $— $— $866,100 
Special mention— — — — 134 1,841 — — 1,975 
Substandard— — — 134 10,569 6,561 — — 17,264 
Doubtful— — — — — — — — — 
Total commercial real estate owner occupied loans$293,096 $220,515 $105,925 $90,886 $44,899 $130,018 $— $— $885,339 
Commercial real estate non-owner occupied:
Pass$339,044 $119,304 $156,281 $73,827 $62,237 $386,235 $— $— $1,136,928 
Special mention— — 21,211 — — 10,617 — — 31,828 
Substandard10,910 — — 28,656 8,198 74,210 — — 121,974 
Doubtful— — — — — — — — — 
Total commercial real estate non-owner occupied loans$349,954 $119,304 $177,492 $102,483 $70,435 $471,062 $— $— $1,290,730 
Construction:
Pass$72,177 $36,114 $9,537 $28,644 $4,696 $9,112 $1,729 $— $162,009 
Special mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful— — — — — — — — — 
Total construction loans$72,177 $36,114 $9,537 $28,644 $4,696 $9,112 $1,729 $— $162,009 
Total commercial loans and leases receivable$5,193,155 $1,452,552 $694,873 $451,477 $301,987 $1,050,269 $2,079,614 $— $11,223,927 
Residential real estate loans:
Performing$162,217 $148,217 $7,224 $17,128 $10,739 $77,762 $67,782 $— $491,069 
Non-performing271 366 238 441 1,425 3,357 785 — 6,883 
Total residential real estate loans$162,488 $148,583 $7,462 $17,569 $12,164 $81,119 $68,567 $— $497,952 
Manufactured housing loans:
Performing$— $— $— $213 $103 $41,918 $— $— 42,234 
Non-performing— — — — — 2,842 — — 2,842 
Total manufactured housing loans$— $— $— $213 $103 $44,760 $— $— $45,076 
Installment loans:
Performing$785,699 $305,729 $100,173 $100,570 $8,430 $782 $64,690 $— $1,366,073 
Non-performing5,164 4,356 1,023 1,111 61 59 92 — 11,866 
Total installment loans$790,863 $310,085 $101,196 $101,681 $8,491 $841 $64,782 $— $1,377,939 
Total consumer loans$953,351 $458,668 $108,658 $119,463 $20,758 $126,720 $133,349 $— $1,920,967 
Loans and leases receivable$6,146,506 $1,911,220 $803,531 $570,940 $322,745 $1,176,989 $2,212,963 $— $13,144,894 
Schedule of Loan Purchases and Sales
Purchases and sales of loans were as follows for the three months ended March 31, 2023 and 2022:
Three Months Ended March 31,
(amounts in thousands)20232022
Purchases (1)
Other commercial and industrial$5,445 $— 
Commercial real estate owner occupied2,867 — 
Residential real estate4,238 146,874 
Personal installment (2)
— 59,456 
Total$12,550 $206,330 
Sales (3)
Other commercial and industrial (4)
$— $8,840 
Commercial real estate owner occupied (4)
— 5,441 
Total$— $14,281 
(1)Amounts reported in the above table are the unpaid principal balance at time of purchase. The purchase price was 101.9% and 98.1% of the loans' unpaid principal balance for the three months ended March 31, 2023 and 2022, respectively.
(2)Installment loan purchases for the three months ended March 31, 2023 and 2022 consist of third-party originated unsecured consumer loans. None of the loans held for investment are considered sub-prime at the time of origination. Customers considers sub-prime borrowers to be those with FICO scores below 660.
(3)There were no sales of loans held for investment for the three months ended March 31, 2023. Gains of $1.5 million from the sales of loans held for investment for the three months ended March 31, 2022 are included in gain (loss) on sale of SBA and other loans in the consolidated statement of income.
(4)Primarily sales of SBA loans.