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Loans Receivable and Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2021
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of the composition of loan held-for-investment
The following table presents the composition of the Company’s loans held-for-investment outstanding as of December 31, 2021 and 2020:
($ in thousands)December 31, 2021December 31, 2020
Commercial:
C&I (1)
$14,150,608 $13,631,726 
CRE:
CRE12,155,047 11,174,611 
Multifamily residential3,675,605 3,033,998 
Construction and land346,486 599,692 
Total CRE16,177,138 14,808,301 
Total commercial30,327,746 28,440,027 
Consumer:
Residential mortgage:
Single-family residential9,093,702 8,185,953 
HELOCs2,144,821 1,601,716 
Total residential mortgage11,238,523 9,787,669 
Other consumer127,512 163,259 
Total consumer11,366,035 9,950,928 
Total loans held-for-investment (2)
$41,693,781 $38,390,955 
Allowance for loan losses(541,579)(619,983)
Loans held-for-investment, net (2)
$41,152,202 $37,770,972 
(1)Includes PPP loans of $534.2 million and $1.57 billion as of December 31, 2021 and 2020, respectively.
(2)Includes net deferred loan fees, unearned fees, unamortized premiums and unaccreted discounts of $(50.7) million and $(58.8) million as of December 31, 2021 and 2020, respectively. Net origination fees related to PPP loans were $(5.7) million and $(12.7) million as of December 31, 2021 and 2020, respectively.
Schedule of loans held-for-investment by loan portfolio segment, internal risk ratings and vintage year
The following tables summarize the Company’s loans held-for-investment by loan portfolio segments, internal risk ratings and vintage year as of December 31, 2021 and 2020. The vintage year is the year of origination, renewal or major modification.
($ in thousands)December 31, 2021
Term LoansRevolving Loans
Amortized Cost Basis		Revolving Loans Converted to Term Loans Amortized Cost BasisTotal
Amortized Cost Basis by Origination Year
20212020201920182017Prior
Commercial:
C&I:
Pass$3,911,722 $1,133,085 $629,007 $187,195 $132,392 $225,326 $7,383,485 $28,842 $13,631,054 
Criticized (accrual) 85,036 117,357 72,277 51,553 15,136 4,005 115,167 — 460,531 
Criticized (nonaccrual)29,456 2,792 513 517 9,301 16,444 — — 59,023 
Total C&I4,026,214 1,253,234 701,797 239,265 156,829 245,775 7,498,652 28,842 14,150,608 
CRE:
Pass2,792,193 2,090,503 2,230,520 1,863,481 1,120,682 1,727,862 128,668 6,389 11,960,298 
Criticized (accrual)71,055 3,200 9,176 21,077 24,851 55,892 — — 185,251 
Criticized (nonaccrual)4,350 — — — 4,752 396 — — 9,498 
Subtotal CRE2,867,598 2,093,703 2,239,696 1,884,558 1,150,285 1,784,150 128,668 6,389 12,155,047 
Multifamily residential:
Pass1,026,295 726,772 688,453 419,319 308,087 424,947 20,524 — 3,614,397 
Criticized (accrual)— — 721 22,344 7,033 30,666 — — 60,764 
Criticized (nonaccrual)— — — — — 444 — — 444 
Subtotal multifamily residential1,026,295 726,772 689,174 441,663 315,120 456,057 20,524 — 3,675,605 
Construction and land:
Pass122,983 103,743 90,544 3,412 — 391 — — 321,073 
Criticized (accrual)3,355 — — 22,058 — — — — 25,413 
Criticized (nonaccrual)— — — — — — — — — 
Subtotal construction and land126,338 103,743 90,544 25,470 — 391 — — 346,486 
Total CRE4,020,231 2,924,218 3,019,414 2,351,691 1,465,405 2,240,598 149,192 6,389 16,177,138 
Total commercial8,046,445 4,177,452 3,721,211 2,590,956 1,622,234 2,486,373 7,647,844 35,231 30,327,746 
Consumer:
Single-family residential:
Pass (1)
2,616,958 2,108,370 1,375,929 1,079,030 763,351 1,127,516 — — 9,071,154 
Criticized (accrual)— — 458 2,813 1,899 3,212 — — 8,382 
Criticized (Nonaccrual) (1)
— — 1,751 3,889 4,295 4,231 — — 14,166 
Subtotal single-family residential mortgage2,616,958 2,108,370 1,378,138 1,085,732 769,545 1,134,959 — — 9,093,702 
HELOCs:
Pass648 3,277 4,644 1,347 3,268 11,215 1,913,478 197,414 2,135,291 
Criticized (accrual)— — — — — 371 7 708 1,086 
Criticized (nonaccrual)— — 52 188 3,543 973 — 3,688 8,444 
Subtotal HELOCs648 3,277 4,696 1,535 6,811 12,559 1,913,485 201,810 2,144,821 
Total residential mortgage2,617,606 2,111,647 1,382,834 1,087,267 776,356 1,147,518 1,913,485 201,810 11,238,523 
Other consumer:
Pass16,831 5,258 — — 1,741 52,147 51,481 — 127,458 
Criticized (accrual)2 — — — — — — — 2 
Criticized (nonaccrual)— — — — — — 52 — 52 
Subtotal other consumer16,833 5,258 — — 1,741 52,147 51,533 — 127,512 
Total consumer2,634,439 2,116,905 1,382,834 1,087,267 778,097 1,199,665 1,965,018 201,810 11,366,035 
Total$10,680,884 $6,294,357 $5,104,045 $3,678,223 $2,400,331 $3,686,038 $9,612,862 $237,041 $41,693,781 
($ in thousands)December 31, 2020
Term LoansRevolving Loans
Amortized Cost Basis		Revolving Loans Converted to Term Loans Amortized Cost BasisTotal
Amortized Cost Basis by Origination Year
20202019201820172016Prior
Commercial:
C&I:
Pass$3,912,147 $1,477,740 $483,725 $245,594 $69,482 $245,615 $6,431,003 $29,487 $12,894,793 
Criticized (accrual)120,183 74,601 56,785 19,426 1,487 5,872 324,640 — 602,994 
Criticized (nonaccrual)2,125 25,267 22,240 18,787 4,964 1,592 58,964 — 133,939 
Total C&I4,034,455 1,577,608 562,750 283,807 75,933 253,079 6,814,607 29,487 13,631,726 
CRE:
Pass2,296,649 2,402,136 2,310,748 1,328,251 732,694 1,529,681 173,267 19,064 10,792,490 
Criticized (accrual)47,459 63,654 43,447 98,259 2,094 80,662 — — 335,575 
Criticized (nonaccrual)— — 42,067 1,115 — 3,364 — — 46,546 
Subtotal CRE2,344,108 2,465,790 2,396,262 1,427,625 734,788 1,613,707 173,267 19,064 11,174,611 
Multifamily residential:
Pass783,671 783,589 479,959 411,945 181,213 348,751 5,895 — 2,995,023 
Criticized (accrual)— 735 22,330 6,101 264 5,877 — — 35,307 
Criticized (nonaccrual)— — 1,475 — — 2,193 — — 3,668 
Subtotal multifamily residential783,671 784,324 503,764 418,046 181,477 356,821 5,895 — 3,033,998 
Construction and land:
Pass224,924 172,707 156,712 — 20,897 1,028 — — 576,268 
Criticized (accrual)3,524 — — — — 19,900 — — 23,424 
Criticized (nonaccrual)— — — — — — — — — 
Subtotal construction and land228,448 172,707 156,712 — 20,897 20,928 — — 599,692 
Total CRE3,356,227 3,422,821 3,056,738 1,845,671 937,162 1,991,456 179,162 19,064 14,808,301 
Total commercial7,390,682 5,000,429 3,619,488 2,129,478 1,013,095 2,244,535 6,993,769 48,551 28,440,027 
Consumer:
Single-family residential:
Pass (1)
2,385,853 1,813,200 1,501,660 1,021,707 523,170 921,714 — — 8,167,304 
Criticized (accrual)— 1,429 — — 119 1,034 — — 2,582 
Criticized (nonaccrual) (1)
— 226 812 1,789 1,994 11,246 — — 16,067 
Subtotal single-family residential mortgage2,385,853 1,814,855 1,502,472 1,023,496 525,283 933,994 — — 8,185,953 
HELOCs:
Pass1,131 880 2,879 5,363 8,433 13,475 1,328,919 225,810 1,586,890 
Criticized (accrual)— — 200 — 996 — 1,328 606 3,130 
Criticized (nonaccrual)— 151 285 4,617 164 1,962 — 4,517 11,696 
Subtotal HELOCs1,131 1,031 3,364 9,980 9,593 15,437 1,330,247 230,933 1,601,716 
Total residential mortgage2,386,984 1,815,886 1,505,836 1,033,476 534,876 949,431 1,330,247 230,933 9,787,669 
Other consumer:
Pass9,531 — — 1,830 — 83,255 66,136 — 160,752 
Criticized (accrual)16 — — — — — — — 16 
Criticized (nonaccrual)— — — 2,491 — — — — 2,491 
Subtotal other consumer9,547 — — 4,321 — 83,255 66,136 — 163,259 
Total consumer2,396,531 1,815,886 1,505,836 1,037,797 534,876 1,032,686 1,396,383 230,933 9,950,928 
Total$9,787,213 $6,816,315 $5,125,324 $3,167,275 $1,547,971 $3,277,221 $8,390,152 $279,484 $38,390,955 
(1)As of December 31, 2021 and 2020, $1.6 million and $747 thousand, respectively, of nonaccrual loans whose payments are guaranteed by the Federal Housing Administration were classified with a “Pass” rating.
Schedule of aging analysis of loans The following tables present the aging analysis of total loans held-for-investment as of December 31, 2021 and 2020:
($ in thousands)December 31, 2021
Current
Accruing
Loans		Accruing
Loans
30-59  Days
Past Due		Accruing
Loans
60-89  Days
Past Due		Total
Accruing
Past Due
Loans		Total
Nonaccrual
Loans		Total
Loans
Commercial:
C&I$14,080,516 $6,983 $4,086 $11,069 $59,023 $14,150,608 
CRE:
CRE12,141,827 3,722 — 3,722 9,498 12,155,047 
Multifamily residential3,669,819 5,320 22 5,342 444 3,675,605 
Construction and land346,486 — — — — 346,486 
Total CRE16,158,132 9,042 22 9,064 9,942 16,177,138 
Total commercial30,238,648 16,025 4,108 20,133 68,965 30,327,746 
Consumer:
Residential mortgage:
Single-family residential9,059,222 10,191 8,569 18,760 15,720 9,093,702 
HELOCs2,130,523 4,776 1,078 5,854 8,444 2,144,821 
Total residential mortgage11,189,745 14,967 9,647 24,614 24,164 11,238,523 
Other consumer127,352 99 9 108 52 127,512 
Total consumer11,317,097 15,066 9,656 24,722 24,216 11,366,035 
Total$41,555,745 $31,091 $13,764 $44,855 $93,181 $41,693,781 
($ in thousands)December 31, 2020
Current
Accruing
Loans (1)
Accruing
Loans
30-59 Days
Past Due		Accruing
Loans
60-89 Days
Past Due		Total
Accruing
Past Due
Loans		Total
Nonaccrual
Loans		Total
Loans
Commercial:
C&I$13,488,070 $8,993 $724 $9,717 $133,939 $13,631,726 
CRE:
CRE11,127,690 375 — 375 46,546 11,174,611 
Multifamily residential3,028,512 1,818 — 1,818 3,668 3,033,998 
Construction and land579,792 19,900 — 19,900 — 599,692 
Total CRE14,735,994 22,093 — 22,093 50,214 14,808,301 
Total commercial28,224,064 31,086 724 31,810 184,153 28,440,027 
Consumer:
Residential mortgage:
Single-family residential8,156,645 9,911 2,583 12,494 16,814 8,185,953 
HELOCs1,583,968 2,922 3,130 6,052 11,696 1,601,716 
Total residential mortgage
9,740,613 12,833 5,713 18,546 28,510 9,787,669 
Other consumer160,534 217 17 234 2,491 163,259 
Total consumer9,901,147 13,050 5,730 18,780 31,001 9,950,928 
Total$38,125,211 $44,136 $6,454 $50,590 $215,154 $38,390,955 
(1)As of both December 31, 2021 and 2020, loans in payment deferral programs offered in response to the COVID-19 pandemic that are performing according to their modified terms are generally not considered delinquent, and are included in the “Current Accruing Loans” column.
Schedule of amortized cost of loans on nonaccrual status with no related allowance for loan losses
The following table presents amortized cost of loans on nonaccrual status for which there was no related allowance for loan losses as of both December 31, 2021 and 2020. Nonaccrual loans may not have an allowance for credit losses if there is no loss expectation since the loan balances are well secured by the collateral value.
($ in thousands)December 31, 2021December 31, 2020
Commercial:
C&I$22,967 $62,040 
CRE:
CRE9,102 45,537 
Multifamily residential— 2,519 
Total CRE9,102 48,056 
Total commercial32,069 110,096 
Consumer:
Residential mortgage:
Single-family residential5,785 6,013 
HELOCs5,033 8,076 
Total residential mortgage10,818 14,089 
Other consumer— 2,491 
Total consumer10,818 16,580 
Total nonaccrual loans with no related allowance for loan losses$42,887 $126,676 
Summary of additions and post-modifications to troubled debt restructurings
The following tables present the additions to TDRs for the years ended December 31, 2021, 2020 and 2019:
($ in thousands)
Loans Modified as TDRs During the Year Ended December 31, 2021
Number
of
Loans		Pre-Modification
Outstanding
Recorded
Investment
Post-Modification
Outstanding
Recorded
Investment (1)
Financial
Impact (2)
Commercial:
C&I5 $24,155 $20,263 $1,108 
CRE:
Multifamily residential1 1,101 1,066 — 
Total CRE1 1,101 1,066 — 
Total commercial6 25,256 21,329 1,108 
Total6 $25,256 $21,329 $1,108 
($ in thousands)
Loans Modified as TDRs During the Year Ended December 31, 2020
Number
of
Loans		Pre-Modification
Outstanding
Recorded
Investment
Post-Modification
Outstanding
Recorded
Investment (1)
Financial
Impact (2)
Commercial:
C&I14 $152,249 $134,467 $19,555 
CRE:
CRE2 21,429 21,221 18 
Multifamily residential1 1,220 1,226 — 
Total CRE3 22,649 22,447 18 
Total commercial17 174,898 156,914 19,573 
Total17 $174,898 $156,914 $19,573 
($ in thousands)
Loans Modified as TDRs During the Year Ended December 31, 2019
Number
of
Loans		Pre-Modification
Outstanding
Recorded
Investment
Post-Modification
Outstanding
Recorded
Investment (1)
Financial
Impact (2)
Commercial:
C&I8 $95,742 $71,332 $8,004 
CRE:
Construction and land1 19,696 19,691 — 
Total CRE1 19,696 19,691 — 
Total commercial9 115,438 91,023 8,004 
Consumer:
Residential mortgage:
Single-family residential2 1,123 1,098 2 
HELOCs2 539 528 — 
Total residential mortgage4 1,662 1,626 2 
Total consumer4 1,662 1,626 2 
Total13 $117,100 $92,649 $8,006 
(1)Includes subsequent payments after modification and reflects the balance as of December 31, 2021, 2020 and 2019.
(2)Includes charge-offs and specific reserves recorded since the modification date.

The following tables present the TDR post-modifications outstanding balances for the years ended December 31, 2021, 2020 and 2019 by modification type:
($ in thousands)
Modification Type During the Year Ended December 31, 2021
Principal (1)
Principal
and
Interest (2)
Interest
Rate
Reduction		Interest
Deferments
Other (3)
Total
Commercial:
C&I$4,679 $— $15,584 $— $— $20,263 
CRE:
CRE— — — — — — 
Multifamily residential1,066 — — — — 1,066 
Total CRE1,066 — — — — 1,066 
Total commercial5,745 — 15,584 — — 21,329 
Total$5,745 $— $15,584 $— $— $21,329 
($ in thousands)
Modification Type During the Year Ended December 31, 2020
Principal (1)
Principal
and
Interest (2)
Interest
Rate
Reduction		Interest
Deferments
Other (3)
Total
Commercial:
C&I$59,134 $10,863 $31,913 $32,557 $— $134,467 
CRE:
CRE21,221 — — — — 21,221 
Multifamily residential1,226 — — — — 1,226 
Total CRE22,447 — — — — 22,447 
Total commercial81,581 10,863 31,913 32,557 — 156,914 
Total$81,581 $10,863 $31,913 $32,557 $— $156,914 
($ in thousands)
Modification Type During the Year Ended December 31, 2019
Principal (1)
Principal
and
Interest (2)
Interest
Rate
Reduction		Interest
Deferments
Other (3)
Total
Commercial:
C&I$31,611 $— $— $— $39,721 $71,332 
CRE:
Construction and land— — 19,691 — — 19,691 
Total CRE— — 19,691 — — 19,691 
Total commercial31,611 — 19,691 — 39,721 91,023 
Consumer:
Residential mortgage:
Single-family residential— 1,098 — — — 1,098 
HELOCs— 397 — — 131 528 
Total residential mortgage— 1,495 — — 131 1,626 
Total consumer— 1,495 — — 131 1,626 
Total$31,611 $1,495 $19,691 $— $39,852 $92,649 
(1)Includes forbearance payments, term extensions and principal deferments that modify the terms of the loan from principal and interest payments to interest payments only.
(2)Includes principal and interest deferments or reductions.
(3)Includes primarily funding to secure additional collateral and provides liquidity to collateral-dependent C&I loans.
Summary of TDR loans subsequently defaulted The following table presents the information on loans that entered into payment default during the years ended December 31, 2021, 2020 and 2019 that were modified as TDRs during the 12 months preceding payment default:
($ in thousands)Loans Modified as TDRs that Subsequently Defaulted
During the Year Ended December 31,
202120202019
Number of
Loans		Recorded
Investment		Number of
Loans		Recorded
Investment		Number of
Loans		Recorded
Investment
Commercial:
C&I1 $11,431 1 $15,852 3 $13,112 
Total commercial1 11,431 1 15,852 3 13,112 
Total1 $11,431 1 $15,852 3 $13,112 
Key credit risk characteristics and macroeconomic variables
The following table provides key credit risk characteristics and macroeconomic variables that the Company uses to estimate the expected credit losses by portfolio segment:
Portfolio SegmentRisk CharacteristicsMacroeconomic Variables
C&I
Age (1), size and spread at origination, and risk rating
Volatility Index (“VIX”) and BBB yield to 10-year U.S. Treasury spread (“BBB Spread”) (1)
CRE, Multifamily residential, and Construction and landDelinquency status, maturity date, collateral value, property type, and geographic locationUnemployment rate, Gross Domestic Product (“GDP”), and U.S. Treasury rates
Single-family residential and HELOCsFICO score, delinquency status, maturity date, collateral value, and geographic locationUnemployment rate, GDP, and home price index
Other consumerHistorical loss experience
Immaterial (2)
(1)Due to model enhancements, the risk characteristic related to “time-to-maturity” was changed to “age”; while macroeconomic variables related to “unemployment rate and two- and ten-year U.S. Treasury spread” were changed to “VIX and BBB Spread” during the year ended December 31, 2021.
(2)Macroeconomic variables are included in the qualitative estimate.
Summary of the activity in the allowance for credit losses
The following tables summarize the activity in the allowance for loan losses by portfolio segments for the years ended December 31, 2021, 2020 and 2019:
($ in thousands)Year Ended December 31, 2021
CommercialConsumerTotal
C&ICREResidential MortgageOther
Consumer
CREMultifamily
Residential		Construction
and Land		Single-
Family
Residential		HELOCs
Allowance for loan losses, beginning of period$398,040 $163,791 $27,573 $10,239 $15,520 $2,690 $2,130 $619,983 
(Reversal of ) provision for credit losses on loans(a)(39,715)14,282 (15,076)7,576 1,965 745 1,286 (28,937)
Gross charge-offs(32,490)(28,430)(130)(2,954)(1,046)(45)(1,497)(66,592)
Gross recoveries11,906 1,297 2,033 607 721 45 5 16,614 
Total net (charge-offs) recoveries(20,584)(27,133)1,903 (2,347)(325)— (1,492)(49,978)
Foreign currency translation adjustment511 — — — — — — 511 
Allowance for loan losses, end of period$338,252 $150,940 $14,400 $15,468 $17,160 $3,435 $1,924 $541,579 
($ in thousands)Year Ended December 31, 2020
CommercialConsumerTotal
C&ICREResidential MortgageOther
Consumer
CREMultifamily
Residential		Construction
and Land		Single-
Family
Residential		HELOCs
Allowance for loan losses, beginning of period
$238,376 $40,509 $22,826 $19,404 $28,527 $5,265 $3,380 $358,287 
Impact of ASU 2016-13 adoption74,237 72,169 (8,112)(9,889)(3,670)(1,798)2,221 125,158 
Provision for (reversal of) credit losses on loans
(a)145,212 55,864 10,879 644 (9,922)(605)(3,381)198,691 
Gross charge-offs
(66,225)(15,206)— — — (221)(185)(81,837)
Gross recoveries
5,428 10,455 1,980 80 585 49 95 18,672 
Total net (charge-offs) recoveries
(60,797)(4,751)1,980 80 585 (172)(90)(63,165)
Foreign currency translation adjustment1,012 — — — — — — 1,012 
Allowance for loan losses, end of period$398,040 $163,791 $27,573 $10,239 $15,520 $2,690 $2,130 $619,983 
($ in thousands)Year Ended December 31, 2019
CommercialConsumerTotal
C&ICREResidential MortgageOther
Consumer
CREMultifamily
Residential		Construction
and Land		Single-
Family
Residential		HELOCs
Allowance for loan losses, beginning of period$189,117 $40,666 $19,885 $20,290 $31,340 $5,774 $4,250 $311,322 
Provision for (reversal of) credit losses on loans(a)109,068 (4,345)1,085 (1,422)(2,938)(516)(839)100,093 
Gross charge-offs(73,985)(1021)— — (11)— (50)(75,067)
Gross recoveries14,501 5,209 1,856 536 136 7 19 22,264 
Total net (charge-offs) recoveries(59,484)4,188 1,856 536 125 7 (31)(52,803)
Foreign currency translation adjustment(325)— — — — — — (325)
Allowance for loan losses, end of period$238,376 $40,509 $22,826 $19,404 $28,527 $5,265 $3,380 $358,287 

The following table summarizes the activities in the allowance for unfunded credit commitments for the years ended December 31, 2021, 2020 and 2019:
($ in thousands)Year Ended December 31,
202120202019
Unfunded credit facilities
Allowance for unfunded credit commitments, beginning of period$33,577 $11,158 $12,566 
Impact of ASU 2016-13 adoption— 10,457 — 
(Reversal of) provision for credit losses on unfunded credit commitments(b)(6,063)11,962 (1,408)
Allowance for unfunded credit commitments, end of period27,514 33,577 11,158 
(Reversal of) provision for credit losses(a) + (b)$(35,000)$210,653 $98,685 
Schedule of carrying value of loans transferred, loans sold and purchased for the held-for-investment portfolio The following tables provide information on the carrying value of loans transferred, loans sold and purchased for the held-for-investment portfolio, during the years ended December 31, 2021, 2020 and 2019:
($ in thousands)Year Ended December 31, 2021
CommercialConsumerTotal
CREResidential Mortgage
C&ICREMultifamily
Residential		Construction
and Land		Single-Family
Residential
Loans transferred from held-for-investment to held-for-sale (1)
$496,655 $78,834 $— $18,883 $5,238 $599,610 
Sales (2)(3)(4)
$502,694 $78,834 $— $21,557 $18,458 $621,543 
Purchases (5)
$479,690 $— $370 $— $564,651 $1,044,711 
($ in thousands)Year Ended December 31, 2020
Commercial ConsumerTotal
CREResidential Mortgage
C&ICREMultifamily
Residential		Construction
and Land		Single-Family
Residential
Loans transferred from held-for-investment to held-for-sale (1)
$300,677 $26,994 $1,398 $— $— $329,069 
Sales (2)(3)(4)
$303,520 $26,994 $1,398 $— $80,309 $412,221 
Purchases (5)
$154,154 $— $2,358 $— $233,068 $389,580 
($ in thousands)Year Ended December 31, 2019
CommercialConsumerTotal
CREResidential Mortgage
C&ICREMultifamily
Residential		Construction
and Land		Single-Family
Residential
Loans transferred from held-for-investment to held-for-sale (1)
$245,002 $39,062 $— $1,573 $— $285,637 
Sales (2)(3)(4)
$245,791 $39,062 $— $1,573 $10,410 $296,836 
Purchases (5)
$397,615 $— $8,988 $— $117,227 $523,830 
(1)Includes write-downs of $12.2 million, $2.8 million and $789 thousand to the allowance for loan losses related to loans transferred from held-for-investment to held-for-sale for the years ended December 31, 2021, 2020 and 2019, respectively.
(2)Includes originated loans sold of $413.1 million, $400.4 million and $230.3 million for the years ended December 31, 2021, 2020 and 2019, respectively. Originated loans sold consist primarily of C&I for all periods.
(3)Includes $208.4 million, $11.8 million and $66.5 million of purchased loans sold in the secondary market for the years ended December 31, 2021, 2020 and 2019, respectively.
(4)Net gains on sales of loans were $8.9 million, $4.5 million and $4.0 million for the years ended December 31, 2021, 2020 and 2019, respectively.
(5)C&I loan purchases consisted primarily of syndicated C&I term loans.