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LOANS AND LEASES, NET | 3 Months Ended
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Dec. 31, 2021
Loans and Leases Receivable Disclosure [Abstract] |
LOANS AND LEASES, NET | LOANS AND LEASES, NET Loans and leases consist of the following:
(Dollars in thousands) | December 31, 2021 |  | September 30, 2021
Term lending | $ | 1,038,378 |  |  | $ | 961,019 |
Asset based lending | 337,236 |  |  | 300,225 |
Factoring | 402,972 |  |  | 363,670 |
Lease financing | 245,315 |  |  | 266,050 |
Insurance premium finance | 385,473 |  |  | 428,867 |
SBA/USDA | 209,521 |  |  | 247,756 |
Other commercial finance | 178,853 |  |  | 157,908 |
Commercial finance | 2,797,748 |  |  | 2,725,495 |
Consumer credit products | 173,343 |  |  | 129,251 |
Other consumer finance | 144,412 |  |  | 123,606 |
Consumer finance | 317,755 |  |  | 252,857 |
Tax services | 100,272 |  |  | 10,405 |
Warehouse finance | 466,831 |  |  | 419,926 |
Community banking | — |  |  | 199,132 |
Total loans and leases | 3,682,606 |  |  | 3,607,815 |
Net deferred loan origination costs | 1,655 |  |  | 1,748 |
Total gross loans and leases | 3,684,261 |  |  | 3,609,563 |
Allowance for credit losses | (67,623) |  |  | (68,281) |
Total loans and leases, net | $ | 3,616,638 |  |  | $ | 3,541,282 |
During the three months ended December 31, 2021, the Company transferred $168.4 million of Community Banking loans to held for sale. During the three months ended December 31, 2020, the Company transferred $100.4 million of Community Banking loans to held for sale. During the three months ended December 31, 2021 and 2020, the Company originated $385.6 million and $303.5 million of SBA/USDA, consumer credit product loans, and other consumer finance as held for sale, respectively. The Company sold held for sale loans resulting in proceeds of $562.7 million and loss on sale of $4.4 million during the three months ended December 31, 2021. The Company sold held for sale loans resulting in proceeds of $451.7 million and gains on sale of $3.5 million during the three months ended December 31, 2020. In connection with the Company's sale of the Bank's Community Bank division to Central Bank, the Company entered into a servicing agreement with Central Bank for the retained Community Bank loan portfolio that became effective on February 29, 2020 (the "Closing Date"). The Company recognized $0.2 million and $1.1 million in servicing fee expense during the three months ended December 31, 2021 and 2020, respectively, and $3.3 million for the fiscal year ended September 30, 2021. Since the Closing Date, the Company has entered into subsequent loan portfolio sale agreements with Central Bank and other third parties. The Company sold additional loans from the retained Community Bank portfolio in the amount of $192.5 million and $129.8 million in the three months ended December 31, 2021 and 2020, respectively, and $308.1 million for the fiscal year ended September 30, 2021. All loans from the retained Community Bank portfolio have been sold as of December 31, 2021. Loans purchased and sold by portfolio segment, including participation interests, were as follows:
| Three Months Ended December 31, |  |
(Dollars in thousands) | 2021 |  | 2020 |  |  |  |
Loans Purchased |  |  |  |  |  |  |
Loans held for investment: |  |  |  |  |  |  |
Commercial finance | $ | 1,720 |  |  | $ | — |  |  |  |  |
Warehouse finance | 55,993 |  |  | 62,631 |  |  |  |  |
Community banking | — |  |  | 2,299 |  |  |  |  |
Total purchases | $ | 57,713 |  |  | $ | 64,930 |  |  |  |  |
Loans Sold |  |  |  |  |  |  |
Loans held for sale: |  |  |  |  |  |  |
Commercial finance | $ | 33,023 |  |  | $ | 30,324 |  |  |  |  |
Consumer finance | 376,444 |  |  | 291,540 |  |  |  |  |
Community banking | 153,222 |  |  | 129,788 |  |  |  |  |
Loans held for investment: |  |  |  |  |  |  |
Community banking | 30,235 |  |  | — |  |  |  |  |
Total sales | $ | 592,924 |  |  | $ | 451,652 |  |  |  |  |
Leasing Portfolio. The net investment in direct financing and sales-type leases was comprised of the following:
(Dollars in thousands) | December 31, 2021 |  | September 30, 2021
Carrying amount | $ | 255,907 |  |  | $ | 278,341 |
Unguaranteed residual assets | 13,329 |  |  | 14,393 |
Unamortized initial direct costs | 435 |  |  | 490 |
Unearned income | (23,921) |  |  | (26,684) |
Total net investment in direct financing and sales-type leases | $ | 245,750 |  |  | $ | 266,540 |
The carrying amount of direct financing and sales-type leases subject to residual value guarantees was $4.0 million at December 31, 2021. The components of total lease income were as follows:
| Three Months Ended December 31, |  |
(Dollars in thousands) | 2021 |  | 2020 |  |  |  |
Interest income - loans and leases |  |  |  |  |  |  |
Interest income on net investments in direct financing and sales-type leases | $ | 4,573 |  |  | $ | 5,319 |  |  |  |  |
Leasing and equipment finance noninterest income |  |  |  |  |  |  |
Lease income from operating lease payments | 11,086 |  |  | 10,041 |  |  |  |  |
Profit recorded on commencement date on sales-type leases | — |  |  | 71 |  |  |  |  |
Other(1) | 1,325 |  |  | 69 |  |  |  |  |
Total leasing and equipment finance noninterest income | 12,411 |  |  | 10,181 |  |  |  |  |
Total lease income | $ | 16,984 |  |  | $ | 15,500 |  |  |  |  |
(1) Other leasing and equipment finance noninterest income consists of gains (losses) on sales of leased equipment, fees and service charges on leases and gains (losses) on sales of leases. Undiscounted future minimum lease payments receivable for direct financing and sales-type leases, and a reconciliation to the carrying amount recorded at December 31, 2021 were as follows:
(Dollars in thousands) |
Remaining in 2022 | $ | 78,421 |
2023 | 86,354 |
2024 | 54,978 |
2025 | 26,113 |
2026 | 7,124 |
Thereafter | 2,918 |
Total undiscounted future minimum lease payments receivable for direct financing and sales-type leases | 255,908 |
Total carrying amount of direct financing and sales-type leases | $ | 255,908 |
The Company did not record any contingent rental income from direct financing and sales-type leases in the three months ended December 31, 2021. The COVID-19 pandemic began impacting the U.S. and global economies in the first calendar quarter of 2020, with significant deterioration of macroeconomic conditions and markets into 2021. Although macroeconomic conditions and markets have improved since the beginning of 2021, the ultimate impact of this pandemic on the Company's loan and lease portfolio remains difficult to predict. Management continues to evaluate the loan and lease portfolio in order to assess the impact on repayment sources and underlying collateral that could result in additional losses and the impact to our customers and businesses as a result of COVID-19 and will refine its estimate as more information becomes available. Activity in the allowance for credit losses and balances of loans and leases by portfolio segment was as follows:
| Three Months Ended December 31, 2021
(Dollars in thousands) | Beginning Balance |  | Provision (Reversal) |  | Charge-offs |  | Recoveries |  | Ending Balance
Allowance for credit losses: |  |  |  |  |  |  |  |  |
Term lending | $ | 29,351 |  |  | $ | (858) |  |  | $ | (2,085) |  |  | $ | 314 |  |  | $ | 26,722 |
Asset based lending | 1,726 |  |  | 911 |  |  | (16) |  |  | 137 |  |  | 2,758 |
Factoring | 3,997 |  |  | 12,502 |  |  | (1,275) |  |  | 18 |  |  | 15,242 |
Lease financing | 7,629 |  |  | (822) |  |  | (16) |  |  | 66 |  |  | 6,857 |
Insurance premium finance | 1,394 |  |  | (270) |  |  | (177) |  |  | 97 |  |  | 1,044 |
SBA/USDA | 2,978 |  |  | 233 |  |  | (217) |  |  | 2 |  |  | 2,996 |
Other commercial finance | 1,168 |  |  | 181 |  |  | — |  |  | — |  |  | 1,349 |
Commercial finance | 48,243 |  |  | 11,877 |  |  | (3,786) |  |  | 634 |  |  | 56,968 |
Consumer credit products | 1,242 |  |  | 385 |  |  | — |  |  | — |  |  | 1,627 |
Other consumer finance | 6,112 |  |  | 1,560 |  |  | (819) |  |  | 107 |  |  | 6,960 |
Consumer finance | 7,354 |  |  | 1,945 |  |  | (819) |  |  | 107 |  |  | 8,587 |
Tax services | 2 |  |  | (714) |  |  | (254) |  |  | 2,567 |  |  | 1,601 |
Warehouse finance | 420 |  |  | 47 |  |  | — |  |  | — |  |  | 467 |
Community banking | 12,262 |  |  | (12,684) |  |  | — |  |  | 422 |  |  | — |
Total loans and leases | 68,281 |  |  | 471 |  |  | (4,859) |  |  | 3,730 |  |  | 67,623 |
Unfunded commitments(1) | 690 |  |  | (285) |  |  | — |  |  | — |  |  | 405 |
Total | $ | 68,971 |  |  | $ | 186 |  |  | $ | (4,859) |  |  | $ | 3,730 |  |  | $ | 68,028 |
(1) Reserve for unfunded commitments is recognized within other liabilities on the Condensed Consolidated Statements of Financial Condition.
| Three Months Ended December 31, 2020
(Dollars in thousands) | Beginning Balance |  | Impact of CECL Adoption |  | Provision (Reversal) |  | Charge-offs |  | Recoveries |  | Ending Balance
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |
Term lending | $ | 15,211 |  |  | $ | 9,999 |  |  | $ | 6,026 |  |  | $ | (3,312) |  |  | $ | 296 |  |  | $ | 28,220 |
Asset based lending | 1,406 |  |  | 164 |  |  | 839 |  |  | (600) |  |  | — |  |  | 1,809 |
Factoring | 3,027 |  |  | 987 |  |  | (1,416) |  |  | (1) |  |  | 1,122 |  |  | 3,719 |
Lease financing | 7,023 |  |  | (556) |  |  | 1,112 |  |  | (876) |  |  | 81 |  |  | 6,784 |
Insurance premium finance | 2,129 |  |  | (965) |  |  | 488 |  |  | (656) |  |  | 289 |  |  | 1,285 |
SBA/USDA | 940 |  |  | 2,720 |  |  | (497) |  |  | — |  |  | 1 |  |  | 3,164 |
Other commercial finance | 182 |  |  | 364 |  |  | (67) |  |  | — |  |  | — |  |  | 479 |
Commercial finance | 29,918 |  |  | 12,713 |  |  | 6,485 |  |  | (5,445) |  |  | 1,789 |  |  | 45,460 |
Consumer credit products | 845 |  |  | — |  |  | (10) |  |  | — |  |  | — |  |  | 835 |
Other consumer finance | 2,821 |  |  | 5,998 |  |  | 1,482 |  |  | (218) |  |  | 93 |  |  | 10,176 |
Consumer finance | 3,666 |  |  | 5,998 |  |  | 1,472 |  |  | (218) |  |  | 93 |  |  | 11,011 |
Tax services | 2 |  |  | — |  |  | 454 |  |  | — |  |  | 956 |  |  | 1,412 |
Warehouse finance | 294 |  |  | (1) |  |  | 26 |  |  | — |  |  | — |  |  | 319 |
Community banking | 22,308 |  |  | (5,937) |  |  | (2,173) |  |  | (11) |  |  | — |  |  | 14,187 |
Total loans and leases | 56,188 |  |  | 12,773 |  |  | 6,264 |  |  | (5,674) |  |  | 2,838 |  |  | 72,389 |
Unfunded commitments(1) | 32 |  |  | 831 |  |  | (175) |  |  | — |  |  | — |  |  | 688 |
Total | $ | 56,220 |  |  | $ | 13,604 |  |  | $ | 6,089 |  |  | $ | (5,674) |  |  | $ | 2,838 |  |  | $ | 73,077 |
(1) Reserve for unfunded commitments is recognized within other liabilities on the Consolidated Statements of Financial Condition.
Information on loans and leases that are deemed to be collateral dependent and are evaluated individually for the ACL was as follows:
(Dollars in thousands) | At December 31, 2021 |  | At September 30, 2021
Term lending | $ | 68,838 |  |  | $ | 20,965 |
Asset based lending | 5,992 |  |  | — |
Factoring | 16,503 |  |  | 1,268 |
Lease financing | 13,254 |  |  | 3,882 |
SBA/USDA | 797 |  |  | — |
Commercial finance(1) | 105,384 |  |  | 26,115 |
Community banking | — |  |  | 14,915 |
Total | $ | 105,384 |  |  | $ | 41,030 |
(1) For commercial finance, collateral dependent financial assets have collateral in the form of cash, equipment, or other business assets. In response to the ongoing COVID-19 pandemic, the Company allowed modifications, such as payment deferrals and temporary forbearances, to credit-worthy borrowers who are experiencing temporary hardship due to the effects of COVID-19. Accordingly, if all payments were less than 30 days past due prior to the onset of the pandemic effects, the loan or lease will not be reported as past due during the deferral or forbearance period. As of December 31, 2021, $0.4 million of loan and lease balances that were granted deferral payments by the Company were still in their deferment period. These modifications consisted solely of payment deferrals ranging from 30 days to six months. These modifications are in line with applicable regulatory guidelines and, therefore, they are not reported as troubled debt restructurings. Other than the loan modifications that are on nonaccrual status, the Company is accruing and recognizing interest income on these modifications during the payment deferral period. Federal regulations provide for the classification of loans and other assets such as debt and equity securities considered by the Bank's primary regulator, the Office of the Comptroller of the Currency (the “OCC”), to be of lesser quality as “substandard,” “doubtful” or “loss.” The loan classification and risk rating definitions are as follows: Pass - A pass asset is of sufficient quality in terms of repayment, collateral and management to preclude a special mention or an adverse rating. Watch - A watch asset is generally a credit performing well under current terms and conditions but with identifiable weakness meriting additional scrutiny and corrective measures. Watch is not a regulatory classification but can be used to designate assets that are exhibiting one or more weaknesses that deserve management’s attention. These assets are of better quality than special mention assets. Special Mention - A special mention asset is a credit with potential weaknesses deserving management’s close attention and, if left uncorrected, may result in deterioration of the repayment prospects for the asset. Special mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. Special mention is a temporary status with aggressive credit management required to garner adequate progress and move to watch or higher. The adverse classifications are as follows: Substandard - A substandard asset is inadequately protected by the net worth and/or repayment ability or by a weak collateral position. Assets so classified will have well-defined weaknesses creating a distinct possibility the Bank will sustain some loss if the weaknesses are not corrected. Loss potential does not have to exist for an asset to be classified as substandard. Doubtful - A doubtful asset has weaknesses similar to those classified substandard, with the degree of weakness causing the likely loss of some principal in any reasonable collection effort. Due to pending factors, the asset’s classification as loss is not yet appropriate. Loss - A loss asset is considered uncollectible and of such little value that the asset’s continuance on the Bank’s balance sheet is no longer warranted. This classification does not necessarily mean an asset has no recovery or salvage value, leaving room for future collection efforts. Loans and leases, or portions thereof, are generally charged off when collection of principal becomes doubtful. Typically, this is associated with a delay or shortfall in payments of 210 days or more for commercial insurance premium finance, 180 days or more for the purchased student loan portfolios, 120 days or more for consumer credit products and leases, and 90 days or more for community banking loans and commercial finance loans. Action is taken to charge off ERO loans if such loans have not been collected by the end of June and taxpayer advance loans if such loans have not been collected by the end of the calendar year. Nonaccrual loans and troubled debt restructurings are generally individually evaluated for expected credit losses. The Company recognizes that concentrations of credit may naturally occur and may take the form of a large volume of related loans and leases to an individual, a specific industry, or a geographic location. Credit concentration is a direct, indirect, or contingent obligation that has a common bond where the aggregate exposure equals or exceeds a certain percentage of the Company’s Tier 1 Capital plus the allowable Allowance for Credit Losses. The Company has various portfolios of consumer finance and tax services loans that present unique risks that are statistically managed. Due to the unique risks associated with these portfolios, the Company monitors other credit quality indicators in their evaluation of the appropriateness of the allowance for credit losses on these portfolios, and as such, these loans are not included in the asset classification table below. The outstanding balances of consumer finance loans and tax services loans were $317.8 million and $100.3 million at December 31, 2021, respectively, and $252.9 million and $10.4 million at September 30, 2021, respectively. The amortized cost basis of loans and leases by asset classification and year of origination was as follows:
| Amortized Cost Basis
(Dollars in thousands) | Term Loans and Leases by Origination Year | Revolving Loans and Leases | Total
At December 31, 2021 | 2022 | 2021 | 2020 | 2019 | 2018 | Prior
Term lending |  |  |  |  |  |  |  |
Pass | $ | 145,763 |  | $ | 337,426 |  | $ | 175,447 |  | $ | 54,833 |  | $ | 37,328 |  | $ | 12,940 |  | $ | — |  | $ | 763,737 |
Watch | 9,627 |  | 53,179 |  | 70,323 |  | 27,372 |  | 7,346 |  | 2,979 |  | — |  | 170,826 |
Special Mention | 194 |  | 888 |  | 21,679 |  | 4,409 |  | 697 |  | 3,127 |  | — |  | 30,994 |
Substandard | 5,040 |  | 16,035 |  | 18,469 |  | 23,418 |  | 3,582 |  | 3,922 |  | — |  | 70,466 |
Doubtful | — |  | 140 |  | 780 |  | 1,361 |  | 74 |  | — |  | — |  | 2,355 |
Total | 160,624 |  | 407,668 |  | 286,698 |  | 111,393 |  | 49,027 |  | 22,968 |  | — |  | 1,038,378 |
Asset based lending |  |  |  |  |  |  |  |
Pass | — |  | — |  | — |  | — |  | — |  | — |  | 235,577 |  | 235,577 |
Watch | — |  | — |  | — |  | — |  | — |  | — |  | 30,560 |  | 30,560 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | 53,240 |  | 53,240 |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | 17,859 |  | 17,859 |
Total | — |  | — |  | — |  | — |  | — |  | — |  | 337,236 |  | 337,236 |
Factoring |  |  |  |  |  |  |  |
Pass | — |  | — |  | — |  | — |  | — |  | — |  | 299,672 |  | 299,672 |
Watch | — |  | — |  | — |  | — |  | — |  | — |  | 37,974 |  | 37,974 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | 30,587 |  | 30,587 |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | 19,425 |  | 19,425 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | 15,314 |  | 15,314 |
Total | — |  | — |  | — |  | — |  | — |  | — |  | 402,972 |  | 402,972 |
Lease financing |  |  |  |  |  |  |  |
Pass | 5,592 |  | 47,808 |  | 61,345 |  | 13,162 |  | 6,148 |  | 365 |  | — |  | 134,420 |
Watch | 1,122 |  | 21,300 |  | 18,565 |  | 6,966 |  | 2,693 |  | 2,095 |  | — |  | 52,741 |
Special Mention | 765 |  | 17,737 |  | 14,560 |  | 3,768 |  | 1,263 |  | 55 |  | — |  | 38,148 |
Substandard | — |  | 600 |  | 11,208 |  | 5,302 |  | 786 |  | 21 |  | — |  | 17,917 |
Doubtful | — |  | — |  | — |  | 2,089 |  | — |  | — |  | — |  | 2,089 |
Total | 7,479 |  | 87,445 |  | 105,678 |  | 31,287 |  | 10,890 |  | 2,536 |  | — |  | 245,315 |
Insurance premium finance |  |  |  |  |  |  |  |
Pass | 169,134 |  | 215,844 |  | 46 |  | 3 |  | — |  | — |  | — |  | 385,027 |
Watch | — |  | 183 |  | — |  | — |  | — |  | — |  | — |  | 183 |
Special Mention | — |  | 66 |  | — |  | — |  | — |  | — |  | — |  | 66 |
Substandard | — |  | 78 |  | 20 |  | — |  | — |  | — |  | — |  | 98 |
Doubtful | — |  | 95 |  | 4 |  | — |  | — |  | — |  | — |  | 99 |
Total | 169,134 |  | 216,266 |  | 70 |  | 3 |  | — |  | — |  | — |  | 385,473 |
SBA/USDA |  |  |  |  |  |  |  |
Pass | 2,851 |  | 77,090 |  | 25,399 |  | 13,028 |  | 12,525 |  | 9,859 |  | — |  | 140,752 |
Watch | — |  | — |  | 19,705 |  | 1,963 |  | — |  | 1,350 |  | — |  | 23,018 |
Special Mention | — |  | — |  | 696 |  | 1,147 |  | 4,971 |  | 1,005 |  | — |  | 7,819 |
Substandard | — |  | — |  | 17,732 |  | 9,502 |  | 8,177 |  | 2,455 |  | — |  | 37,866 |
Doubtful | — |  | — |  | — |  | — |  | — |  | 66 |  | — |  | 66 |
Total | 2,851 |  | 77,090 |  | 63,532 |  | 25,640 |  | 25,673 |  | 14,735 |  | — |  | 209,521 |
Other commercial finance |  |  |  |  |  |  |  |
Pass | 20,130 |  | 28,666 |  | 764 |  | 5,885 |  | 2,428 |  | 67,777 |  | — |  | 125,650 |
Watch | — |  | 20,000 |  | 16,807 |  | 3,322 |  | — |  | — |  | — |  | 40,129 |
Special Mention | — |  | — |  | — |  | — |  | 447 |  | — |  | — |  | 447 |
Substandard | — |  | 10,255 |  | — |  | — |  | 270 |  | 2,102 |  | — |  | 12,627 |
Total | 20,130 |  | 58,921 |  | 17,571 |  | 9,207 |  | 3,145 |  | 69,879 |  | — |  | 178,853 |
Warehouse finance |  |  |  |  |  |  |  |
Pass | — |  | — |  | — |  | — |  | — |  | — |  | 466,831 |  | 466,831 |
Total | — |  | — |  | — |  | — |  | — |  | — |  | 466,831 |  | 466,831 |
Total loans and leases |  |  |  |  |  |  |  |
Pass | 343,470 |  | 706,834 |  | 263,000 |  | 86,911 |  | 58,428 |  | 90,942 |  | 1,002,081 |  | 2,551,666 |
Watch | 10,750 |  | 94,662 |  | 125,398 |  | 39,623 |  | 10,039 |  | 6,426 |  | 68,533 |  | 355,431 |
Special Mention | 959 |  | 18,690 |  | 36,935 |  | 9,324 |  | 7,380 |  | 4,186 |  | 83,827 |  | 161,301 |
Substandard | 5,040 |  | 26,967 |  | 47,433 |  | 38,221 |  | 12,814 |  | 8,499 |  | 37,284 |  | 176,258 |
Doubtful | — |  | 235 |  | 784 |  | 3,450 |  | 73 |  | 66 |  | 15,315 |  | 19,923 |
Total | $ | 360,219 |  | $ | 847,388 |  | $ | 473,550 |  | $ | 177,529 |  | $ | 88,734 |  | $ | 110,119 |  | $ | 1,207,040 |  | $ | 3,264,579 |
| Amortized Cost Basis
(Dollars in thousands) | Term Loans and Leases by Origination Year | Revolving Loans and Leases | Total
At September 30, 2021 | 2021 | 2020 | 2019 | 2018 | 2017 | Prior
Term lending |  |  |  |  |  |  |  |
Pass | $ | 362,443 |  | $ | 192,305 |  | $ | 63,708 |  | $ | 34,381 |  | $ | 3,195 |  | $ | 1,236 |  | $ | — |  | $ | 657,268 |
Watch | 63,046 |  | 71,701 |  | 32,941 |  | 21,419 |  | 76 |  | 3,628 |  | — |  | 192,811 |
Special Mention | 6,422 |  | 26,673 |  | 4,821 |  | 932 |  | 70 |  | 633 |  | — |  | 39,551 |
Substandard | 18,569 |  | 16,810 |  | 26,920 |  | 3,529 |  | 928 |  | 641 |  | — |  | 67,397 |
Doubtful | 252 |  | 1,673 |  | 1,756 |  | 311 |  | — |  | — |  | — |  | 3,992 |
Total | 450,732 |  | 309,162 |  | 130,146 |  | 60,572 |  | 4,269 |  | 6,138 |  | — |  | 961,019 |
Asset based lending |  |  |  |  |  |  |  |
Pass | — |  | — |  | — |  | — |  | — |  | — |  | 185,432 |  | 185,432 |
Watch | — |  | — |  | — |  | — |  | — |  | — |  | 52,072 |  | 52,072 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | 43,135 |  | 43,135 |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | 19,586 |  | 19,586 |
Total | — |  | — |  | — |  | — |  | — |  | — |  | 300,225 |  | 300,225 |
Factoring |  |  |  |  |  |  |  |
Pass | — |  | — |  | — |  | — |  | — |  | — |  | 294,124 |  | 294,124 |
Watch | — |  | — |  | — |  | — |  | — |  | — |  | 17,984 |  | 17,984 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | 33,035 |  | 33,035 |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | 18,527 |  | 18,527 |
Total | — |  | — |  | — |  | — |  | — |  | — |  | 363,670 |  | 363,670 |
Lease financing |  |  |  |  |  |  |  |
Pass | 54,434 |  | 73,629 |  | 17,153 |  | 7,511 |  | 1,857 |  | 203 |  | — |  | 154,787 |
Watch | 22,061 |  | 20,455 |  | 9,274 |  | 2,739 |  | 1,454 |  | — |  | — |  | 55,983 |
Special Mention | 15,402 |  | 20,595 |  | 4,148 |  | 1,546 |  | 61 |  | — |  | — |  | 41,752 |
Substandard | 479 |  | 4,765 |  | 4,981 |  | 831 |  | 25 |  | — |  | — |  | 11,081 |
Doubtful | — |  | 6 |  | 2,402 |  | 38 |  | 1 |  | — |  | — |  | 2,447 |
Total | 92,376 |  | 119,450 |  | 37,958 |  | 12,665 |  | 3,398 |  | 203 |  | — |  | 266,050 |
Insurance premium finance |  |  |  |  |  |  |  |
Pass | 428,131 |  | 144 |  | 9 |  | — |  | — |  | — |  | — |  | 428,284 |
Watch | 262 |  | 5 |  | — |  | — |  | — |  | — |  | — |  | 267 |
Special Mention | 58 |  | 5 |  | — |  | — |  | — |  | — |  | — |  | 63 |
Substandard | 68 |  | 107 |  | — |  | — |  | — |  | — |  | — |  | 175 |
Doubtful | 58 |  | 20 |  | — |  | — |  | — |  | — |  | — |  | 78 |
Total | 428,577 |  | 281 |  | 9 |  | — |  | — |  | — |  | — |  | 428,867 |
SBA/USDA |  |  |  |  |  |  |  |
Pass | 110,122 |  | 37,006 |  | 14,461 |  | 12,760 |  | 6,525 |  | 3,779 |  | — |  | 184,653 |
Watch | — |  | 20,431 |  | 1,996 |  | 1,670 |  | 1,394 |  | 298 |  | — |  | 25,789 |
Special Mention | — |  | 8,333 |  | 214 |  | 3,348 |  | 177 |  | 919 |  | — |  | 12,991 |
Substandard | — |  | 3,812 |  | 9,550 |  | 8,079 |  | 2,169 |  | 713 |  | — |  | 24,323 |
Total | 110,122 |  | 69,582 |  | 26,221 |  | 25,857 |  | 10,265 |  | 5,709 |  | — |  | 247,756 |
Other commercial finance |  |  |  |  |  |  |  |
Pass | 56,957 |  | 642 |  | 5,786 |  | 6,075 |  | 3,345 |  | 60,965 |  | — |  | 133,770 |
Watch | — |  | 17,404 |  | 3,409 |  | 451 |  | — |  | — |  | — |  | 21,264 |
Substandard | 466 |  | — |  | — |  | 273 |  | 837 |  | 1,299 |  | — |  | 2,875 |
Total | 57,423 |  | 18,046 |  | 9,195 |  | 6,799 |  | 4,182 |  | 62,264 |  | — |  | 157,909 |
Warehouse finance |  |  |  |  |  |  |  |
Pass | — |  | — |  | — |  | — |  | — |  | — |  | 419,926 |  | 419,926 |
Total | — |  | — |  | — |  | — |  | — |  | — |  | 419,926 |  | 419,926 |
Community banking |  |  |  |  |  |  |  |
Pass | — |  | — |  | 4,159 |  | — |  | 5,683 |  | 472 |  | — |  | 10,314 |
Watch | — |  | 10,134 |  | — |  | 10,854 |  | 6,133 |  | — |  | — |  | 27,121 |
Special Mention | — |  | — |  | 35,916 |  | — |  | — |  | — |  | — |  | 35,916 |
Substandard | — |  | 119 |  | 49,449 |  | 50,626 |  | 13,933 |  | 6,110 |  | — |  | 120,237 |
Doubtful | — |  | 122 |  | — |  | 5,422 |  | — |  | — |  | — |  | 5,544 |
Total | — |  | 10,375 |  | 89,524 |  | 66,902 |  | 25,749 |  | 6,582 |  | — |  | 199,132 |
Total loans and leases |  |  |  |  |  |  |  |
Pass | 1,012,088 |  | 303,727 |  | 105,274 |  | 60,727 |  | 20,605 |  | 66,655 |  | 899,481 |  | 2,468,557 |
Watch | 85,369 |  | 140,131 |  | 47,620 |  | 37,132 |  | 9,057 |  | 3,926 |  | 70,056 |  | 393,291 |
Special Mention | 21,882 |  | 55,606 |  | 45,099 |  | 5,826 |  | 307 |  | 1,552 |  | 76,171 |  | 206,443 |
Substandard | 19,584 |  | 25,613 |  | 90,900 |  | 63,338 |  | 17,891 |  | 8,762 |  | 38,113 |  | 264,201 |
Doubtful | 310 |  | 1,822 |  | 4,158 |  | 5,770 |  | 1 |  | — |  | — |  | 12,061 |
Total | $ | 1,139,233 |  | $ | 526,899 |  | $ | 293,051 |  | $ | 172,793 |  | $ | 47,861 |  | $ | 80,895 |  | $ | 1,083,821 |  | $ | 3,344,553 |

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- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2196816 + Details
Name: | us-gaap_FinancingReceivablesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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- References No definition available. + Details
Name: | us-gaap_LoansAndLeasesReceivableDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration