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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, 2025
Receivables [Abstract] |
Schedule of Loans and Leases Receivable | The following table presents loans and leases receivable as of June 30, 2025 and December 31, 2024:
(amounts in thousands) | June 30, 2025 |  | December 31, 2024
Loans and leases receivable: |  |  |
Commercial: |  |  |
Commercial and industrial: |  |  |
Specialized lending (1) | $ | 6,454,661 |  |  | $ | 5,842,420 |
Other commercial and industrial | 1,127,194 |  |  | 1,182,350 |
Multifamily | 2,247,282 |  |  | 2,252,246 |
Commercial real estate owner occupied | 1,065,006 |  |  | 1,100,944 |
Commercial real estate non-owner occupied | 1,497,385 |  |  | 1,359,130 |
Construction | 98,626 |  |  | 147,209 |
Total commercial loans and leases receivable | 12,490,154 |  |  | 11,884,299 |
Consumer: |  |  |
Residential real estate | 520,570 |  |  | 496,559 |
Manufactured housing | 30,287 |  |  | 33,123 |
Installment: |  |  |
Personal | 457,728 |  |  | 463,854 |
Other | 221,090 |  |  | 249,799 |
Total consumer loans receivable | 1,229,675 |  |  | 1,243,335 |
Loans and leases receivable | 13,719,829 |  |  | 13,127,634 |
Loans receivable, mortgage finance, at fair value | 1,536,254 |  |  | 1,321,128 |
Loans receivable, installment, at fair value | 123,354 |  |  | — |
Allowance for credit losses on loans and leases | (147,418) |  |  | (136,775) |
Total loans and leases receivable, net of allowance for credit losses on loans and leases (2) | $ | 15,232,019 |  |  | $ | 14,311,987 |
(1)Includes direct finance and sales-type equipment leases of $264.3 million and $262.7 million at June 30, 2025 and December 31, 2024, respectively. (2)Includes deferred (fees) costs and unamortized (discounts) premiums, net of $(47.2) million and $(20.8) million at June 30, 2025 and December 31, 2024, 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, 2025 and December 31, 2024:
| June 30, 2025
(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)(4) |  | Total loans and leases (4)
Commercial and industrial, including specialized lending | $ | 5,611 |  |  | $ | 1,492 |  |  | $ | 3,548 |  |  | $ | 10,651 |  |  | $ | 7,560,142 |  |  | $ | 7,570,793 |
Multifamily | — |  |  | — |  |  | — |  |  | — |  |  | 2,247,282 |  |  | 2,247,282 |
Commercial real estate owner occupied | 533 |  |  | — |  |  | 7,004 |  |  | 7,537 |  |  | 1,057,469 |  |  | 1,065,006 |
Commercial real estate non-owner occupied | — |  |  | — |  |  | 62 |  |  | 62 |  |  | 1,497,323 |  |  | 1,497,385 |
Construction | — |  |  | — |  |  | — |  |  | — |  |  | 98,626 |  |  | 98,626 |
Residential real estate | 6,279 |  |  | 2,935 |  |  | 3,769 |  |  | 12,983 |  |  | 507,587 |  |  | 520,570 |
Manufactured housing | 439 |  |  | 196 |  |  | 1,906 |  |  | 2,541 |  |  | 27,746 |  |  | 30,287 |
Installment | 4,843 |  |  | 6,507 |  |  | 4,944 |  |  | 16,294 |  |  | 662,524 |  |  | 678,818 |
Total | $ | 17,705 |  |  | $ | 11,130 |  |  | $ | 21,233 |  |  | $ | 50,068 |  |  | $ | 13,658,699 |  |  | $ | 13,708,767 |
| December 31, 2024
(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)(4) |  | Total loans and leases (4)
Commercial and industrial, including specialized lending | $ | 3,655 |  |  | $ | 19,854 |  |  | $ | 3,606 |  |  | $ | 27,115 |  |  | $ | 6,974,904 |  |  | $ | 7,002,019 |
Multifamily | — |  |  | — |  |  | 11,834 |  |  | 11,834 |  |  | 2,240,412 |  |  | 2,252,246 |
Commercial real estate owner occupied | 11,395 |  |  | — |  |  | 8,071 |  |  | 19,466 |  |  | 1,081,478 |  |  | 1,100,944 |
Commercial real estate non-owner occupied | — |  |  | — |  |  | 17,007 |  |  | 17,007 |  |  | 1,342,123 |  |  | 1,359,130 |
Construction | — |  |  | — |  |  | — |  |  | — |  |  | 147,209 |  |  | 147,209 |
Residential real estate | 9,541 |  |  | 4,560 |  |  | 3,384 |  |  | 17,485 |  |  | 479,074 |  |  | 496,559 |
Manufactured housing | 766 |  |  | 155 |  |  | 2,262 |  |  | 3,183 |  |  | 29,940 |  |  | 33,123 |
Installment | 7,918 |  |  | 5,108 |  |  | 5,613 |  |  | 18,639 |  |  | 695,014 |  |  | 713,653 |
Total | $ | 33,275 |  |  | $ | 29,677 |  |  | $ | 51,777 |  |  | $ | 114,729 |  |  | $ | 12,990,154 |  |  | $ | 13,104,883 |
(1)Includes past due loans and leases that are accruing interest because collection is considered probable. (2)Includes loans amounting to $4.7 million and $17.1 million as of June 30, 2025 and December 31, 2024, 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. (4)Includes PCD loans of $109.3 million and $126.4 million at June 30, 2025 and December 31, 2024, respectively. Customers acquired $32.1 million of PCD commercial and industrial loans and recognized $1.0 million of allowance for credit losses upon acquisition during the three and six months ended June 30, 2025.
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, 2025 |  | December 31, 2024 |  |  |  |
(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 specialized lending | $ | 4,218 |  |  | $ | — |  |  | $ | 4,218 |  |  | $ | 4,041 |  |  | $ | — |  |  | $ | 4,041 |  |  |  |  |  |  |  |  |
Multifamily | — |  |  | — |  |  | — |  |  | 11,834 |  |  | — |  |  | 11,834 |  |  |  |  |  |  |  |  |
Commercial real estate owner occupied | 7,005 |  |  | — |  |  | 7,005 |  |  | 8,090 |  |  | — |  |  | 8,090 |  |  |  |  |  |  |  |  |
Commercial real estate non-owner occupied | 62 |  |  | — |  |  | 62 |  |  | 354 |  |  | — |  |  | 354 |  |  |  |  |  |  |  |  |
Residential real estate | 7,964 |  |  | 270 |  |  | 8,234 |  |  | 8,274 |  |  | 440 |  |  | 8,714 |  |  |  |  |  |  |  |  |
Manufactured housing | — |  |  | 1,608 |  |  | 1,608 |  |  | — |  |  | 1,852 |  |  | 1,852 |  |  |  |  |  |  |  |  |
Installment | — |  |  | 4,944 |  |  | 4,944 |  |  | — |  |  | 5,613 |  |  | 5,613 |  |  |  |  |  |  |  |  |
Total | $ | 19,249 |  |  | $ | 6,822 |  |  | $ | 26,071 |  |  | $ | 32,593 |  |  | $ | 7,905 |  |  | $ | 40,498 |  |  |  |  |  |  |  |  |
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, 2025 and 2024 are presented in the tables below:
(amounts in thousands) | Commercial and industrial (1) |  | Multifamily |  | Commercial real estate owner occupied |  | Commercial real estate non-owner occupied |  | Construction |  | Residential real estate |  | Manufactured housing |  | Installment |  |  |  | Total
Three Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Balance, March 31, 2025 | $ | 30,584 |  |  | $ | 18,790 |  |  | $ | 10,780 |  |  | $ | 18,058 |  |  | $ | 1,264 |  |  | $ | 6,163 |  |  | $ | 3,800 |  |  | $ | 51,637 |  |  |  |  | $ | 141,076 |
Allowance for credit losses on PCD loans, net of charge-offs and recoveries (2) | 1,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 1,000 |
Charge-offs | (5,996) |  |  | — |  |  | (417) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (10,750) |  |  |  |  | (17,163) |
Recoveries | 2,125 |  |  | — |  |  | 6 |  |  | — |  |  | 3 |  |  | 4 |  |  | — |  |  | 1,910 |  |  |  |  | 4,048 |
Provision (benefit) for credit losses on loans and leases | 8,549 |  |  | 2,074 |  |  | 2,145 |  |  | 2,621 |  |  | 893 |  |  | 164 |  |  | (79) |  |  | 2,090 |  |  |  |  | 18,457 |
Ending Balance, June 30, 2025 | $ | 36,262 |  |  | $ | 20,864 |  |  | $ | 12,514 |  |  | $ | 20,679 |  |  | $ | 2,160 |  |  | $ | 6,331 |  |  | $ | 3,721 |  |  | $ | 44,887 |  |  |  |  | $ | 147,418 |
Six Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Balance, December 31, 2024 | $ | 29,379 |  |  | $ | 18,511 |  |  | $ | 10,755 |  |  | $ | 17,405 |  |  | $ | 1,250 |  |  | $ | 5,968 |  |  | $ | 3,829 |  |  | $ | 49,678 |  |  |  |  | $ | 136,775 |
Allowance for credit losses on PCD loans, net of charge-offs (2) | 1,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 1,000 |
Charge-offs | (10,503) |  |  | (3,834) |  |  | (436) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (23,153) |  |  |  |  | (37,926) |
Recoveries | 3,401 |  |  | — |  |  | 9 |  |  | — |  |  | 6 |  |  | 4 |  |  | — |  |  | 4,247 |  |  |  |  | 7,667 |
Provision (benefit) for credit losses on loans and leases | 12,985 |  |  | 6,187 |  |  | 2,186 |  |  | 3,274 |  |  | 904 |  |  | 359 |  |  | (108) |  |  | 14,115 |  |  |  |  | 39,902 |
Ending Balance, June 30, 2025 | $ | 36,262 |  |  | $ | 20,864 |  |  | $ | 12,514 |  |  | $ | 20,679 |  |  | $ | 2,160 |  |  | $ | 6,331 |  |  | $ | 3,721 |  |  | $ | 44,887 |  |  |  |  | $ | 147,418 |
(amounts in thousands) | Commercial and industrial (1) |  | Multifamily |  | Commercial real estate owner occupied |  | Commercial real estate non-owner occupied |  | Construction |  | Residential real estate |  | Manufactured housing |  | Installment |  |  |  | Total
Three Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Balance, March 31, 2024 | $ | 23,003 |  |  | $ | 18,307 |  |  | $ | 10,201 |  |  | $ | 18,320 |  |  | $ | 1,866 |  |  | $ | 6,707 |  |  | $ | 4,160 |  |  | $ | 50,732 |  |  |  |  | $ | 133,296 |
Charge-offs | (7,348) |  |  | (1,433) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (13,943) |  |  |  |  | (22,724) |
Recoveries | 1,683 |  |  | — |  |  | — |  |  | — |  |  | 7 |  |  | 20 |  |  | — |  |  | 2,303 |  |  |  |  | 4,013 |
Provision (benefit) for credit losses on loans and leases | 6,383 |  |  | 3,778 |  |  | (1,770) |  |  | (354) |  |  | (17) |  |  | (843) |  |  | (66) |  |  | 10,740 |  |  |  |  | 17,851 |
Ending Balance, June 30, 2024 | $ | 23,721 |  |  | $ | 20,652 |  |  | $ | 8,431 |  |  | $ | 17,966 |  |  | $ | 1,856 |  |  | $ | 5,884 |  |  | $ | 4,094 |  |  | $ | 49,832 |  |  |  |  | $ | 132,436 |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Balance, December 31, 2023 | $ | 23,503 |  |  | $ | 16,343 |  |  | $ | 9,882 |  |  | $ | 16,859 |  |  | $ | 1,482 |  |  | $ | 6,586 |  |  | $ | 4,239 |  |  | $ | 56,417 |  |  |  |  | $ | 135,311 |
Charge-offs | (12,744) |  |  | (1,906) |  |  | (22) |  |  | — |  |  | — |  |  | (19) |  |  | — |  |  | (30,860) |  |  |  |  | (45,551) |
Recoveries | 3,407 |  |  | — |  |  | — |  |  | — |  |  | 7 |  |  | 21 |  |  | — |  |  | 5,437 |  |  |  |  | 8,872 |
Provision (benefit) for credit losses on loans and leases | 9,555 |  |  | 6,215 |  |  | (1,429) |  |  | 1,107 |  |  | 367 |  |  | (704) |  |  | (145) |  |  | 18,838 |  |  |  |  | 33,804 |
Ending Balance, June 30, 2024 | $ | 23,721 |  |  | $ | 20,652 |  |  | $ | 8,431 |  |  | $ | 17,966 |  |  | $ | 1,856 |  |  | $ | 5,884 |  |  | $ | 4,094 |  |  | $ | 49,832 |  |  |  |  | $ | 132,436 |
(1) Includes specialized lending. (2) Represents $1.0 million of allowance for credit losses on PCD loans recognized upon acquisition of commercial and industrial loans during the three and six months ended June 30, 2025.
Summary of Loans Modified in Troubled Debt Restructurings and Related Recorded Investment | The following tables present the amortized cost of loans that were modified to borrowers experiencing financial difficulty for the three and six months ended June 30, 2025 and 2024, disaggregated by class of financing receivable and type of modification granted:
|  |  | Three Months Ended June 30, 2025 |  |
(dollars in thousands) |  |  | Term Extension |  | Payment Deferral |  | Debt Forgiveness |  | Interest Rate Reduction and Term Extension |  | Total |  | Percentage of Total by Financing Class |  |  |  |  |  |  |  |  |  |  |  |
Personal installment |  |  | $ | 665 |  |  | $ | 233 |  |  | $ | 789 |  |  | $ | — |  |  | $ | 1,687 |  |  | 0.37 | % |  |  |  |  |  |  |  |  |  |  |  |
Total |  |  | $ | 665 |  |  | $ | 233 |  |  | $ | 789 |  |  | $ | — |  |  | $ | 1,687 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Three Months Ended June 30, 2024 |  |
(dollars in thousands) |  |  | Term Extension |  | Payment Deferral |  | Debt Forgiveness |  | Interest Rate Reduction and Term Extension |  | Total |  | Percentage of Total by Financing Class |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial, including specialized lending |  |  | $ | 1,997 |  |  | $ | 1,756 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,753 |  |  | 0.06 | % |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate non-owner occupied |  |  | 17,265 |  |  | — |  |  | — |  |  | — |  |  | 17,265 |  |  | 1.44 | % |  |  |  |  |  |  |  |  |  |  |  |
Manufactured housing |  |  | 82 |  |  | — |  |  | — |  |  | 49 |  |  | 131 |  |  | 0.36 | % |  |  |  |  |  |  |  |  |  |  |  |
Personal installment |  |  | 373 |  |  | 34 |  |  | 35 |  |  | — |  |  | 442 |  |  | 0.09 | % |  |  |  |  |  |  |  |  |  |  |  |
Total |  |  | $ | 19,717 |  |  | $ | 1,790 |  |  | $ | 35 |  |  | $ | 49 |  |  | $ | 21,591 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Six Months Ended June 30, 2025 |  |
(dollars in thousands) |  |  | Term Extension |  | Payment Deferral |  | Debt Forgiveness |  | Interest Rate Reduction and Term Extension |  | Total |  | Percentage of Total by Financing Class |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial, including specialized lending |  |  | $ | 731 |  |  | $ | 760 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,491 |  |  | 0.02 | % |  |  |  |  |  |  |  |  |  |  |  |
Personal installment |  |  | 2,922 |  |  | 1,491 |  |  | 888 |  |  | 126 |  |  | 5,427 |  |  | 1.19 | % |  |  |  |  |  |  |  |  |  |  |  |
Total |  |  | $ | 3,653 |  |  | $ | 2,251 |  |  | $ | 888 |  |  | $ | 126 |  |  | $ | 6,918 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Six Months Ended June 30, 2024 |  |
(dollars in thousands) |  |  | Term Extension |  | Payment Deferral |  | Debt Forgiveness |  | Interest Rate Reduction and Term Extension |  | Total |  | Percentage of Total by Financing Class |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial, including specialized lending |  |  | $ | 1,997 |  |  | $ | 3,743 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,740 |  |  | 0.09 | % |  |  |  |  |  |  |  |  |  |  |  |
Multifamily |  |  | — |  |  | 10,691 |  |  | — |  |  | — |  |  | 10,691 |  |  | 0.52 | % |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate non-owner occupied |  |  | 17,265 |  |  | — |  |  | — |  |  | — |  |  | 17,265 |  |  | 1.44 | % |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate |  |  | — |  |  | 53 |  |  | — |  |  | — |  |  | 53 |  |  | 0.01 | % |  |  |  |  |  |  |  |  |  |  |  |
Manufactured housing |  |  | 82 |  |  | — |  |  | — |  |  | 49 |  |  | 131 |  |  | 0.36 | % |  |  |  |  |  |  |  |  |  |  |  |
Personal installment |  |  | 3,840 |  |  | 189 |  |  | 68 |  |  | — |  |  | 4,097 |  |  | 0.86 | % |  |  |  |  |  |  |  |  |  |  |  |
Total |  |  | $ | 23,184 |  |  | $ | 14,676 |  |  | $ | 68 |  |  | $ | 49 |  |  | $ | 37,977 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
The following tables summarize the impacts of loan modifications made to borrowers experiencing financial difficulty for the three and six months ended June 30, 2025 and 2024:
| Three Months Ended June 30, 2025 |  | Three Months Ended June 30, 2024
| Weighted Average |  |  |  | Weighted Average |  |
(dollars in thousands) | Interest Rate Reduction (%) |  | Term Extension (in months) |  | Payment Deferral (in months) |  | Debt Forgiven |  | Interest Rate Reduction (%) |  | Term Extension (in months) |  | Payment Deferral (in months) |  | Debt Forgiven
Commercial and industrial, including specialized lending | —% |  | 0 |  | 0 |  | $ | — |  |  | —% |  | 1 |  | 7 |  | $ | — |
Commercial real estate non-owner occupied | — |  | 0 |  | 0 |  | — |  |  | — |  | 12 |  | 0 |  | — |
Manufactured housing | — |  | 0 |  | 0 |  | — |  |  | 4.3 |  | 50 |  | 0 |  | — |
Personal installment | — |  | 5 |  | 9 |  | 794 |  |  | — |  | 4 |  | 7 |  | 41 |
| Six Months Ended June 30, 2025 |  | Six Months Ended June 30, 2024
| Weighted Average |  |  |  | Weighted Average |  |
(dollars in thousands) | Interest Rate Reduction (%) |  | Term Extension (in months) |  | Payment Deferral (in months) |  | Debt Forgiven |  | Interest Rate Reduction (%) |  | Term Extension (in months) |  | Payment Deferral (in months) |  | Debt Forgiven
Commercial and industrial, including specialized lending | — | % |  | 11 |  | 6 |  | $ | — |  |  | — | % |  | 1 |  | 5 |  | $ | — |
Multifamily | — |  |  | 0 |  | 0 |  | — |  |  | — |  |  | 0 |  | 5 |  | — |
Commercial real estate non-owner occupied | — |  |  | 0 |  | 0 |  | — |  |  | — |  |  | 12 |  | 0 |  | — |
Residential real estate | — |  |  | 0 |  | 0 |  | — |  |  | — |  |  | 0 |  | 5 |  | — |
Manufactured housing | — |  |  | 0 |  | 0 |  | — |  |  | 4.3 |  |  | 50 |  | 0 |  | — |
Personal installment | 11.5 |  |  | 5 |  | 7 |  | 867 |  |  | — |  |  | 6 |  | 7 |  | 141 |
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 tables present an aging analysis of loan modifications made to borrowers experiencing financial difficulty in the twelve months ended June 30, 2025 and 2024:
| June 30, 2025 |  |  |  |
(dollars in thousands) | 30-59 Days past due |  | 60-89 Days past due |  | 90 Days or more past due |  | Current |  | Total |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial, including specialized lending | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6,286 |  |  | $ | 6,286 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate | — |  |  | — |  |  | — |  |  | 301 |  |  | 301 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Manufactured housing | — |  |  | — |  |  | — |  |  | 167 |  |  | 167 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal installment | 542 |  |  | 574 |  |  | 517 |  |  | 5,431 |  |  | 7,064 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total | $ | 542 |  |  | $ | 574 |  |  | $ | 517 |  |  | $ | 12,185 |  |  | $ | 13,818 |  |  |  |  |  |  |  |  |  |  |  |  |  |
| June 30, 2024 |  |  |
(dollars in thousands) | 30-59 Days past due |  | 60-89 Days past due |  | 90 Days or more past due |  | Current |  | Total |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial, including specialized lending | $ | — |  |  | $ | — |  |  | $ | 3,743 |  |  | $ | 14,101 |  |  | $ | 17,844 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multifamily | — |  |  | — |  |  | — |  |  | 10,691 |  |  | 10,691 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate non-owner occupied | — |  |  | — |  |  | — |  |  | 17,265 |  |  | 17,265 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate | — |  |  | — |  |  | — |  |  | 99 |  |  | 99 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Manufactured housing | 124 |  |  | 36 |  |  | — |  |  | 317 |  |  | 477 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personal installment | 510 |  |  | 312 |  |  | 417 |  |  | 9,317 |  |  | 10,556 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total | $ | 634 |  |  | $ | 348 |  |  | $ | 4,160 |  |  | $ | 51,790 |  |  | $ | 56,932 |  |  |  |  |  |  |  |  |  |  |  |  |  |
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 June 30, 2025 and December 31, 2024:
| Term Loans Amortized Cost Basis by Origination Year as of June 30, 2025 |  |  |  |  |  |
(amounts in thousands) | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  | Revolving loans amortized cost basis |  | Revolving loans converted to term |  | Total
Commercial and industrial loans and leases, including specialized lending: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 1,542,752 |  |  | $ | 1,416,872 |  |  | $ | 678,303 |  |  | $ | 1,073,219 |  |  | $ | 308,666 |  |  | $ | 154,004 |  |  | $ | 2,018,133 |  |  | $ | 144,228 |  |  | $ | 7,336,177 |
Special mention | 7,200 |  |  | 11,194 |  |  | — |  |  | 22,625 |  |  | 3,993 |  |  | — |  |  | 13,736 |  |  | 7,956 |  |  | 66,704 |
Substandard | — |  |  | 3,750 |  |  | 1,399 |  |  | 19,790 |  |  | 394 |  |  | 94,403 |  |  | 45,629 |  |  | 2,547 |  |  | 167,912 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial and industrial loans and leases | $ | 1,549,952 |  |  | $ | 1,431,816 |  |  | $ | 679,702 |  |  | $ | 1,115,634 |  |  | $ | 313,053 |  |  | $ | 248,407 |  |  | $ | 2,077,498 |  |  | $ | 154,731 |  |  | $ | 7,570,793 |
Commercial and industrial loans and leases charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended June 30, 2025 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5,565 |  |  | $ | — |  |  | $ | 431 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,996 |
Six Months Ended June 30, 2025 | — |  |  | — |  |  | 103 |  |  | 9,578 |  |  | 12 |  |  | 810 |  |  | — |  |  | — |  |  | 10,503 |
Multifamily loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 152,314 |  |  | $ | 239,500 |  |  | $ | 794 |  |  | $ | 1,165,607 |  |  | $ | 274,385 |  |  | $ | 311,652 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,144,252 |
Special mention | — |  |  | — |  |  | — |  |  | 11,242 |  |  | 9,535 |  |  | 17,890 |  |  | — |  |  | — |  |  | 38,667 |
Substandard | — |  |  | — |  |  | — |  |  | 7,243 |  |  | 11,955 |  |  | 45,165 |  |  | — |  |  | — |  |  | 64,363 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total multifamily loans | $ | 152,314 |  |  | $ | 239,500 |  |  | $ | 794 |  |  | $ | 1,184,092 |  |  | $ | 295,875 |  |  | $ | 374,707 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,247,282 |
Multifamily loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended June 30, 2025 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Six Months Ended June 30, 2025 | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,834 |  |  | — |  |  | — |  |  | 3,834 |
Commercial real estate owner occupied loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 66,025 |  |  | $ | 394,619 |  |  | $ | 53,471 |  |  | $ | 208,759 |  |  | $ | 164,087 |  |  | $ | 134,525 |  |  | $ | 7,605 |  |  | $ | 34 |  |  | $ | 1,029,125 |
Special mention | — |  |  | — |  |  | — |  |  | 392 |  |  | 1,520 |  |  | 7,086 |  |  | — |  |  | 11,061 |  |  | 20,059 |
Substandard | — |  |  | — |  |  | 2,944 |  |  | — |  |  | — |  |  | 12,878 |  |  | — |  |  | — |  |  | 15,822 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial real estate owner occupied loans | $ | 66,025 |  |  | $ | 394,619 |  |  | $ | 56,415 |  |  | $ | 209,151 |  |  | $ | 165,607 |  |  | $ | 154,489 |  |  | $ | 7,605 |  |  | $ | 11,095 |  |  | $ | 1,065,006 |
Commercial real estate owner occupied loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended June 30, 2025 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 417 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 417 |
Six Months Ended June 30, 2025 | — |  |  | — |  |  | — |  |  | 417 |  |  | — |  |  | 19 |  |  | — |  |  | — |  |  | 436 |
Commercial real estate non-owner occupied loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 197,119 |  |  | $ | 162,718 |  |  | $ | 16,348 |  |  | $ | 393,371 |  |  | $ | 94,341 |  |  | $ | 573,579 |  |  | $ | 2,000 |  |  | $ | — |  |  | $ | 1,439,476 |
Special mention | — |  |  | — |  |  | 21,971 |  |  | 26,639 |  |  | — |  |  | 547 |  |  | — |  |  | — |  |  | 49,157 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8,752 |  |  | — |  |  | — |  |  | 8,752 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial real estate non-owner occupied loans | $ | 197,119 |  |  | $ | 162,718 |  |  | $ | 38,319 |  |  | $ | 420,010 |  |  | $ | 94,341 |  |  | $ | 582,878 |  |  | $ | 2,000 |  |  | $ | — |  |  | $ | 1,497,385 |
Commercial real estate non-owner occupied loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended June 30, 2025 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Six Months Ended June 30, 2025 | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| Term Loans Amortized Cost Basis by Origination Year as of June 30, 2025 |  |  |  |  |  |
(amounts in thousands) | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  | Revolving loans amortized cost basis |  | Revolving loans converted to term |  | Total
Construction loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 9,917 |  |  | $ | 32,740 |  |  | $ | 36,512 |  |  | $ | 19,457 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 98,626 |
Special mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total construction loans | $ | 9,917 |  |  | $ | 32,740 |  |  | $ | 36,512 |  |  | $ | 19,457 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 98,626 |
Construction loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended June 30, 2025 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Six Months Ended June 30, 2025 | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial loans and leases receivable | $ | 1,975,327 |  |  | $ | 2,261,393 |  |  | $ | 811,742 |  |  | $ | 2,948,344 |  |  | $ | 868,876 |  |  | $ | 1,360,481 |  |  | $ | 2,087,103 |  |  | $ | 165,826 |  |  | $ | 12,479,092 |
Total commercial loans and leases receivable charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended June 30, 2025 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5,982 |  |  | $ | — |  |  | $ | 431 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,413 |
Six Months Ended June 30, 2025 | — |  |  | — |  |  | 103 |  |  | 9,995 |  |  | 12 |  |  | 4,663 |  |  | — |  |  | — |  |  | 14,773 |
Residential real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 41,585 |  |  | $ | 43,880 |  |  | $ | 20,275 |  |  | $ | 158,868 |  |  | $ | 119,203 |  |  | $ | 80,485 |  |  | $ | 48,282 |  |  | $ | — |  |  | $ | 512,578 |
Non-performing | — |  |  | 135 |  |  | 416 |  |  | 1,200 |  |  | 1,160 |  |  | 4,796 |  |  | 285 |  |  | — |  |  | 7,992 |
Total residential real estate loans | $ | 41,585 |  |  | $ | 44,015 |  |  | $ | 20,691 |  |  | $ | 160,068 |  |  | $ | 120,363 |  |  | $ | 85,281 |  |  | $ | 48,567 |  |  | $ | — |  |  | $ | 520,570 |
Residential real estate loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended June 30, 2025 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Six Months Ended June 30, 2025 | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Manufactured housing loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 29,186 |  |  | $ | — |  |  | $ | — |  |  | $ | 29,186 |
Non-performing | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,101 |  |  | — |  |  | — |  |  | 1,101 |
Total manufactured housing loans | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 30,287 |  |  | $ | — |  |  | $ | — |  |  | $ | 30,287 |
Manufactured housing loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended June 30, 2025 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Six Months Ended June 30, 2025 | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Installment loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 35,106 |  |  | $ | 89,950 |  |  | $ | 194,252 |  |  | $ | 199,486 |  |  | $ | 64,404 |  |  | $ | 40,627 |  |  | $ | 43,786 |  |  | $ | 2 |  |  | $ | 667,613 |
Non-performing | 951 |  |  | 6,010 |  |  | 1,830 |  |  | 1,367 |  |  | 641 |  |  | 313 |  |  | 93 |  |  | — |  |  | 11,205 |
Total installment loans | $ | 36,057 |  |  | $ | 95,960 |  |  | $ | 196,082 |  |  | $ | 200,853 |  |  | $ | 65,045 |  |  | $ | 40,940 |  |  | $ | 43,879 |  |  | $ | 2 |  |  | $ | 678,818 |
Installment loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended June 30, 2025 | $ | 364 |  |  | $ | 1,081 |  |  | $ | 3,258 |  |  | $ | 3,437 |  |  | $ | 1,713 |  |  | $ | 897 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,750 |
Six Months Ended June 30, 2025 | 581 |  |  | 1,739 |  |  | 6,557 |  |  | 8,266 |  |  | 4,277 |  |  | 1,733 |  |  | — |  |  | — |  |  | 23,153 |
Total consumer loans | $ | 77,642 |  |  | $ | 139,975 |  |  | $ | 216,773 |  |  | $ | 360,921 |  |  | $ | 185,408 |  |  | $ | 156,508 |  |  | $ | 92,446 |  |  | $ | 2 |  |  | $ | 1,229,675 |
Total consumer loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended June 30, 2025 | $ | 364 |  |  | $ | 1,081 |  |  | $ | 3,258 |  |  | $ | 3,437 |  |  | $ | 1,713 |  |  | $ | 897 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,750 |
Six Months Ended June 30, 2025 | 581 |  |  | 1,739 |  |  | 6,557 |  |  | 8,266 |  |  | 4,277 |  |  | 1,733 |  |  | — |  |  | — |  |  | 23,153 |
| Term Loans Amortized Cost Basis by Origination Year as of June 30, 2025 |  |  |  |  |  |
(amounts in thousands) | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  | Revolving loans amortized cost basis |  | Revolving loans converted to term |  | Total
Loans and leases receivable | $ | 2,052,969 |  |  | $ | 2,401,368 |  |  | $ | 1,028,515 |  |  | $ | 3,309,265 |  |  | $ | 1,054,284 |  |  | $ | 1,516,989 |  |  | $ | 2,179,549 |  |  | $ | 165,828 |  |  | $ | 13,708,767 |
Loans and leases receivable charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended June 30, 2025 | $ | 364 |  |  | $ | 1,081 |  |  | $ | 3,258 |  |  | $ | 9,419 |  |  | $ | 1,713 |  |  | $ | 1,328 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,163 |
Six Months Ended June 30, 2025 | $ | 581 |  |  | $ | 1,739 |  |  | $ | 6,660 |  |  | $ | 18,261 |  |  | $ | 4,289 |  |  | $ | 6,396 |  |  | $ | — |  |  | $ | — |  |  | $ | 37,926 |
| Term Loans Amortized Cost Basis by Origination Year as of December 31, 2024 |  |  |  |  |  |
(amounts in thousands) | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Revolving loans amortized cost basis |  | Revolving loans converted to term |  | Total
Commercial and industrial loans and leases, including specialized lending: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 2,103,150 |  |  | $ | 738,456 |  |  | $ | 1,278,246 |  |  | $ | 333,068 |  |  | $ | 107,840 |  |  | $ | 6,742 |  |  | $ | 1,907,480 |  |  | $ | 336,100 |  |  | $ | 6,811,082 |
Special mention | 16,905 |  |  | — |  |  | 6,933 |  |  | 1,522 |  |  | — |  |  | 62 |  |  | 8,144 |  |  | 3,630 |  |  | 37,196 |
Substandard | — |  |  | 1,631 |  |  | 43,668 |  |  | 11,525 |  |  | 4,178 |  |  | 62,095 |  |  | 27,830 |  |  | 2,814 |  |  | 153,741 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial and industrial loans and leases | $ | 2,120,055 |  |  | $ | 740,087 |  |  | $ | 1,328,847 |  |  | $ | 346,115 |  |  | $ | 112,018 |  |  | $ | 68,899 |  |  | $ | 1,943,454 |  |  | $ | 342,544 |  |  | $ | 7,002,019 |
Commercial and industrial loans and leases charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Year Ended December 31, 2024 (1) | $ | 312 |  |  | $ | 2,765 |  |  | $ | 5,833 |  |  | $ | 4,865 |  |  | $ | 2,429 |  |  | $ | 7,531 |  |  | $ | — |  |  | $ | — |  |  | $ | 23,735 |
Multifamily loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 235,685 |  |  | $ | 813 |  |  | $ | 1,182,371 |  |  | $ | 288,055 |  |  | $ | 124,779 |  |  | $ | 314,967 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,146,670 |
Special mention | — |  |  | — |  |  | 14,040 |  |  | 12,093 |  |  | — |  |  | 32,316 |  |  | — |  |  | — |  |  | 58,449 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 47,127 |  |  | — |  |  | — |  |  | 47,127 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total multifamily loans | $ | 235,685 |  |  | $ | 813 |  |  | $ | 1,196,411 |  |  | $ | 300,148 |  |  | $ | 124,779 |  |  | $ | 394,410 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,252,246 |
Multifamily loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Year Ended December 31, 2024 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,073 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,073 |
Commercial real estate owner occupied loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 395,522 |  |  | $ | 54,356 |  |  | $ | 211,300 |  |  | $ | 195,169 |  |  | $ | 42,078 |  |  | $ | 118,677 |  |  | $ | 7,605 |  |  | $ | 104 |  |  | $ | 1,024,811 |
Special mention | — |  |  | — |  |  | 159 |  |  | 16,429 |  |  | 10,000 |  |  | 15,885 |  |  | — |  |  | 11,136 |  |  | 53,609 |
Substandard | — |  |  | 2,944 |  |  | 703 |  |  | — |  |  | — |  |  | 18,877 |  |  | — |  |  | — |  |  | 22,524 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial real estate owner occupied loans | $ | 395,522 |  |  | $ | 57,300 |  |  | $ | 212,162 |  |  | $ | 211,598 |  |  | $ | 52,078 |  |  | $ | 153,439 |  |  | $ | 7,605 |  |  | $ | 11,240 |  |  | $ | 1,100,944 |
Commercial real estate owner occupied loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Year Ended December 31, 2024 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 365 |  |  | $ | — |  |  | $ | — |  |  | $ | 365 |
Commercial real estate non-owner occupied loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 163,429 |  |  | $ | 30,367 |  |  | $ | 412,352 |  |  | $ | 96,656 |  |  | $ | 165,111 |  |  | $ | 413,336 |  |  | $ | 2,000 |  |  | $ | — |  |  | $ | 1,283,251 |
Special mention | — |  |  | 12,000 |  |  | 4,277 |  |  | — |  |  | — |  |  | 431 |  |  | — |  |  | — |  |  | 16,708 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 59,171 |  |  | — |  |  | — |  |  | 59,171 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial real estate non-owner occupied loans | $ | 163,429 |  |  | $ | 42,367 |  |  | $ | 416,629 |  |  | $ | 96,656 |  |  | $ | 165,111 |  |  | $ | 472,938 |  |  | $ | 2,000 |  |  | $ | — |  |  | $ | 1,359,130 |
Commercial real estate non-owner occupied loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Year Ended December 31, 2024 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 145 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 145 |
Construction loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 16,103 |  |  | $ | 22,610 |  |  | $ | 94,957 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,446 |  |  | $ | — |  |  | $ | — |  |  | $ | 138,116 |
Special mention | — |  |  | 9,093 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9,093 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total construction loans | $ | 16,103 |  |  | $ | 31,703 |  |  | $ | 94,957 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,446 |  |  | $ | — |  |  | $ | — |  |  | $ | 147,209 |
Construction loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Year Ended December 31, 2024 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total commercial loans and leases receivable | $ | 2,930,794 |  |  | $ | 872,270 |  |  | $ | 3,249,006 |  |  | $ | 954,517 |  |  | $ | 453,986 |  |  | $ | 1,094,132 |  |  | $ | 1,953,059 |  |  | $ | 353,784 |  |  | $ | 11,861,548 |
| Term Loans Amortized Cost Basis by Origination Year as of December 31, 2024 |  |  |  |  |  |
(amounts in thousands) | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Revolving loans amortized cost basis |  | Revolving loans converted to term |  | Total
Total commercial loans and leases receivable charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Year Ended December 31, 2024 | $ | 312 |  |  | $ | 2,765 |  |  | $ | 5,833 |  |  | $ | 4,865 |  |  | $ | 2,574 |  |  | $ | 11,969 |  |  | $ | — |  |  | $ | — |  |  | $ | 28,318 |
Residential real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 45,757 |  |  | $ | 20,701 |  |  | $ | 163,473 |  |  | $ | 123,170 |  |  | $ | 5,827 |  |  | $ | 77,989 |  |  | $ | 50,807 |  |  | $ | — |  |  | $ | 487,724 |
Non-performing | 138 |  |  | 273 |  |  | 925 |  |  | 1,077 |  |  | 317 |  |  | 5,425 |  |  | 680 |  |  | — |  |  | 8,835 |
Total residential real estate loans | $ | 45,895 |  |  | $ | 20,974 |  |  | $ | 164,398 |  |  | $ | 124,247 |  |  | $ | 6,144 |  |  | $ | 83,414 |  |  | $ | 51,487 |  |  | $ | — |  |  | $ | 496,559 |
Residential real estate loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Year Ended December 31, 2024 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 38 |  |  | $ | — |  |  | $ | — |  |  | $ | 38 |
Manufactured housing loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 31,570 |  |  | $ | — |  |  | $ | — |  |  | $ | 31,570 |
Non-performing | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,553 |  |  | — |  |  | — |  |  | 1,553 |
Total manufactured housing loans | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 33,123 |  |  | $ | — |  |  | $ | — |  |  | $ | 33,123 |
Manufactured housing loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Year Ended December 31, 2024 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Installment loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 86,018 |  |  | $ | 164,223 |  |  | $ | 255,777 |  |  | $ | 98,375 |  |  | $ | 31,808 |  |  | $ | 25,733 |  |  | $ | 46,126 |  |  | $ | 5 |  |  | $ | 708,065 |
Non-performing | 238 |  |  | 1,829 |  |  | 1,698 |  |  | 918 |  |  | 260 |  |  | 504 |  |  | 141 |  |  | — |  |  | 5,588 |
Total installment loans | $ | 86,256 |  |  | $ | 166,052 |  |  | $ | 257,475 |  |  | $ | 99,293 |  |  | $ | 32,068 |  |  | $ | 26,237 |  |  | $ | 46,267 |  |  | $ | 5 |  |  | $ | 713,653 |
Installment loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Year Ended December 31, 2024 | $ | 2,797 |  |  | $ | 8,791 |  |  | $ | 22,707 |  |  | $ | 15,211 |  |  | $ | 2,811 |  |  | $ | 3,792 |  |  | $ | — |  |  | $ | — |  |  | $ | 56,109 |
Total consumer loans | $ | 132,151 |  |  | $ | 187,026 |  |  | $ | 421,873 |  |  | $ | 223,540 |  |  | $ | 38,212 |  |  | $ | 142,774 |  |  | $ | 97,754 |  |  | $ | 5 |  |  | $ | 1,243,335 |
Total consumer loans charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Year Ended December 31, 2024 | $ | 2,797 |  |  | $ | 8,791 |  |  | $ | 22,707 |  |  | $ | 15,211 |  |  | $ | 2,811 |  |  | $ | 3,830 |  |  | $ | — |  |  | $ | — |  |  | $ | 56,147 |
Loans and leases receivable | $ | 3,062,945 |  |  | $ | 1,059,296 |  |  | $ | 3,670,879 |  |  | $ | 1,178,057 |  |  | $ | 492,198 |  |  | $ | 1,236,906 |  |  | $ | 2,050,813 |  |  | $ | 353,789 |  |  | $ | 13,104,883 |
Loans and leases receivable charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For the Year Ended December 31, 2024 | $ | 3,109 |  |  | $ | 11,556 |  |  | $ | 28,540 |  |  | $ | 20,076 |  |  | $ | 5,385 |  |  | $ | 15,799 |  |  | $ | — |  |  | $ | — |  |  | $ | 84,465 |
(1) Charge-offs for the year ended December 31, 2024 included $5.0 million of commercial and industrial loans originated under the PPP that were subsequently determined to be ineligible for SBA forgiveness and guarantee and were ultimately deemed uncollectible.
Schedule of Loan Purchases and Sales | Purchases and sales of loans held for investment were as follows for the three and six months ended June 30, 2025 and 2024:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(amounts in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Purchases (1) |  |  |  |  |  |  |
Other commercial and industrial | $ | 52,776 |  |  | $ | — |  |  | $ | 53,855 |  |  | $ | 7,403 |
Construction | 10,080 |  |  | — |  |  | 10,080 |  |  | — |
Personal installment (2) | 40,700 |  |  | 43,241 |  |  | 145,641 |  |  | 43,241 |
Total | $ | 103,556 |  |  | $ | 43,241 |  |  | $ | 209,576 |  |  | $ | 50,644 |
Sales (3) |  |  |  |  |  |  |
Other commercial and industrial | $ | — |  |  | $ | 23,708 |  |  | $ | — |  |  | $ | 23,708 |
Multifamily | — |  |  | — |  |  | 8,000 |  |  | — |
Personal installment | — |  |  | — |  |  | 281 |  |  | — |
Total | $ | — |  |  | $ | 23,708 |  |  | $ | 8,281 |  |  | $ | 23,708 |
(1)Amounts reported in the above table are the unpaid principal balance at time of purchase. The purchase price was 74.4% and 99.5% of the loans’ unpaid principal balance for the three months ended June 30, 2025 and 2024, respectively. The purchase price was 87.1% and 99.6% of the loans’ unpaid principal balance for the six months ended June 30, 2025 and 2024, respectively. (2)Installment loan purchases for the three and six months ended June 30, 2025 and 2024 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)The gain on sales of loans held for investment was insignificant for the three and six months ended June 30, 2025. For the three and six months ended June 30, 2024, sales of loans held for investment resulted in net losses of $0.2 million included in net gain (loss) on sale of loans and leases in the consolidated statements of income.
Financing Receivable, Purchased With Credit Deterioration | The reconciliation between the purchase price and the par value of the PCD debt securities was as follows:
(amounts in thousands) |  |
Par value |  | $ | 5,100 |
Unamortized discount |  | (1,165) |
Allowance for credit losses |  | (1,905) |
Purchase price |  | $ | 2,030 |
The reconciliation between the purchase price and the unpaid principal balance was as follows:
(amounts in thousands) |  |
Par value |  | $ | 32,050 |
Unamortized discount |  | (16,217) |
Allowance for credit losses |  | (1,000) |
Purchase price |  | $ | 14,833 |

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