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Loans Receivable and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2022
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of composition of loans held-for-investment
The following table presents the composition of the Company’s loans held-for-investment outstanding as of March 31, 2022 and December 31, 2021:
($ in thousands)March 31, 2022December 31, 2021
Commercial:
C&I (1)
$14,838,134 $14,150,608 
CRE:
CRE12,636,787 12,155,047 
Multifamily residential3,894,463 3,675,605 
Construction and land443,836 346,486 
Total CRE16,975,086 16,177,138 
Total commercial31,813,220 30,327,746 
Consumer:
Residential mortgage:
Single-family residential9,283,429 9,093,702 
HELOCs2,266,634 2,144,821 
Total residential mortgage11,550,063 11,238,523 
Other consumer127,399 127,512 
Total consumer11,677,462 11,366,035 
Total loans held-for-investment (2)
$43,490,682 $41,693,781 
Allowance for loan losses(545,685)(541,579)
Loans held-for-investment, net (2)
$42,944,997 $41,152,202 
(1)Includes Paycheck Protection Program loans of $318.1 million and $534.2 million as of March 31, 2022 and December 31, 2021, respectively.
(2)Includes net deferred loan fees, unearned fees, unamortized premiums and unaccreted discounts of $(42.7) million and $(50.7) million as of March 31, 2022 and December 31, 2021, respectively.
Schedule of loans held-for-investment by loan portfolio segments, internal risk ratings and vintage year
The following tables summarize the Company’s loans held-for-investment by loan portfolio segments, internal risk ratings and vintage year as of March 31, 2022 and December 31, 2021. The vintage year is the year of origination, renewal or major modification.
($ in thousands)March 31, 2022
Term Loans by Origination YearRevolving LoansRevolving Loans Converted to Term Loans Total
20222021202020192018Prior
Commercial:
C&I:
Pass$737,607 $3,443,409 $983,506 $571,374 $188,189 $303,396 $8,203,700 $28,621 $14,459,802 
Criticized (accrual)51,594 22,381 60,176 49,533 43,741 20,353 78,781 — 326,559 
Criticized (nonaccrual)— 13,403 6,018 — 5,634 12,799 13,919 — 51,773 
Total C&I789,201 3,479,193 1,049,700 620,907 237,564 336,548 8,296,400 28,621 14,838,134 
CRE:
Pass1,029,501 2,646,859 1,993,446 2,108,508 1,737,301 2,628,811 157,525 6,351 12,308,302 
Criticized (accrual)5,049 105,708 4,375 54,675 56,140 93,134 — — 319,081 
Criticized (nonaccrual)— 4,301 — — — 5,103 — — 9,404 
Total CRE1,034,550 2,756,868 1,997,821 2,163,183 1,793,441 2,727,048 157,525 6,351 12,636,787 
Multifamily residential:
Pass354,628 980,895 698,645 683,149 386,920 709,085 19,704 — 3,833,026 
Criticized (accrual)— — — 718 22,306 37,990 — — 61,014 
Criticized (nonaccrual)— — — — — 423 — — 423 
Total multifamily residential354,628 980,895 698,645 683,867 409,226 747,498 19,704 — 3,894,463 
Construction and land:
Pass35,198 192,442 93,792 89,152 3,370 270 — — 414,224 
Criticized (accrual)— 3,311 4,347 — 21,954 — — — 29,612 
Criticized (nonaccrual)— — — — — — — — — 
Total construction and land35,198 195,753 98,139 89,152 25,324 270 — — 443,836 
Total CRE1,424,376 3,933,516 2,794,605 2,936,202 2,227,991 3,474,816 177,229 6,351 16,975,086 
Total commercial2,213,577 7,412,709 3,844,305 3,557,109 2,465,555 3,811,364 8,473,629 34,972 31,813,220 
Consumer:
Residential mortgage:
Single-family residential:
Pass (1)
592,760 2,610,094 2,006,265 1,271,347 996,334 1,780,965 — — 9,257,765 
Criticized (accrual)— 241 706 961 4,281 4,187 — — 10,376 
Criticized (nonaccrual) (1)
— — 397 2,024 3,902 8,965 — — 15,288 
Total single-family residential mortgage592,760 2,610,335 2,007,368 1,274,332 1,004,517 1,794,117 — — 9,283,429 
HELOCs:
Pass— 1,956 3,756 1,590 1,463 11,629 2,061,729 174,742 2,256,865 
Criticized (accrual)— — — 220 — 1 1,464 1,272 2,957 
Criticized (nonaccrual)— 7 — — 186 3,052 — 3,567 6,812 
Total HELOCs— 1,963 3,756 1,810 1,649 14,682 2,063,193 179,581 2,266,634 
Total residential mortgage592,760 2,612,298 2,011,124 1,276,142 1,006,166 1,808,799 2,063,193 179,581 11,550,063 
Other consumer:
Pass538 16,190 5,258 — — 54,062 51,313 — 127,361 
Criticized (accrual)1 — — — — — — — 1 
Criticized (nonaccrual)— — — — — — 37 — 37 
Total other consumer539 16,190 5,258 — — 54,062 51,350 — 127,399 
Total consumer593,299 2,628,488 2,016,382 1,276,142 1,006,166 1,862,861 2,114,543 179,581 11,677,462 
Total$2,806,876 $10,041,197 $5,860,687 $4,833,251 $3,471,721 $5,674,225 $10,588,172 $214,553 $43,490,682 
($ in thousands)December 31, 2021
Term Loans by Origination YearRevolving LoansRevolving Loans Converted to Term LoansTotal
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 
Total 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 
Total multifamily residential
1,026,295 726,772 689,174 441,663 315,120 456,057 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)— — — — — — — — — 
Total construction and land
126,338 103,743 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 commercial
8,046,445 4,177,452 3,721,211 2,590,956 1,622,234 2,486,373 7,647,844 35,231 30,327,746 
Consumer:
Residential mortgage:
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 
Total single-family residential mortgage
2,616,958 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 
Total HELOCs648 3,277 4,696 1,535 6,811 12,559 1,913,485 201,810 2,144,821 
Total residential mortgage
2,617,606 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 
Total other consumer
16,833 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 
(1)As of March 31, 2022 and December 31, 2021, $1.1 million and $1.6 million, respectively, of nonaccrual loans whose payments are guaranteed by the Federal Housing Administration were classified with a “Pass” rating.
Schedule of aging analysis of loans The following tables present the aging analysis of total loans held-for-investment as of March 31, 2022 and December 31, 2021:
($ in thousands)March 31, 2022
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$14,759,847 $23,082 $3,432 $26,514 $51,773 $14,838,134 
CRE:
CRE12,624,346 2,895 142 3,037 9,404 12,636,787 
Multifamily residential3,891,837 804 1,399 2,203 423 3,894,463 
Construction and land443,836 — — — — 443,836 
Total CRE16,960,019 3,699 1,541 5,240 9,827 16,975,086 
Total commercial31,719,866 26,781 4,973 31,754 61,600 31,813,220 
Consumer:
Residential mortgage:
Single-family residential9,240,375 15,998 10,671 26,669 16,385 9,283,429 
HELOCs2,253,750 3,116 2,956 6,072 6,812 2,266,634 
Total residential mortgage11,494,125 19,114 13,627 32,741 23,197 11,550,063 
Other consumer126,568 150 644 794 37 127,399 
Total consumer11,620,693 19,264 14,271 33,535 23,234 11,677,462 
Total$43,340,559 $46,045 $19,244 $65,289 $84,834 $43,490,682 

($ in thousands)December 31, 2021
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$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 mortgage
11,189,745 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 $41,693,781 
(1)As of both March 31, 2022 and December 31, 2021, loans in payment deferral programs offered in response to the Coronavirus Disease 2019 (“COVID-19”) pandemic that are performing according to their modified terms are generally not considered delinquent, and are included in the “Current Accruing Loans” column.
Schedule of amortized cost of loans on nonaccrual status with no related allowance for loan losses
The following table presents the amortized cost of loans on nonaccrual status for which there was no related allowance for loan losses as of both March 31, 2022 and December 31, 2021. Nonaccrual loans may not have an allowance for credit losses because there is no loss expectation when the loan balances are well-secured by the collateral value.
($ in thousands)March 31, 2022December 31, 2021
Commercial:
C&I$24,864 $22,967 
CRE9,053 9,102 
Total commercial33,917 32,069 
Consumer:
Single-family residential7,265 5,785 
HELOCs3,738 5,033 
Total consumer11,003 10,818 
Total nonaccrual loans with no related allowance for loan losses$44,920 $42,887 
Summary of additions and post-modification to troubled debt restructurings
The following table presents the additions to TDRs for the three months ended March 31, 2022 and 2021:
($ in thousands)Loans Modified as TDRs During the Three Months Ended March 31,
20222021
Number
of
Loans		Pre-
Modification
Outstanding
Recorded
Investment
Post-
Modification
Outstanding
Recorded
   Investment (1)
Financial
   Impact (2)
Number
of
Loans		Pre-
Modification
Outstanding
Recorded
Investment
Post-
Modification
Outstanding
Recorded
   Investment (1)
Financial
   Impact (2)
Commercial:
C&I1$17,179 $9,224 $7,545 1$443 $433 $203 
Total1$17,179 $9,224 $7,545 1$443 $433 $203 
(1)Includes subsequent payments after modification and reflects the balance as of March 31, 2022 and 2021.
(2)Includes charge-offs and specific reserves recorded since the modification date.

The following table presents the TDR post-modification outstanding balances by the primary modification type for the three months ended March 31, 2022 and 2021:
($ in thousands)Modification Type During the Three Months Ended March 31,
20222021
Principal (1)
Total
Principal (1)
Total
Commercial:
C&I$9,224 $9,224 $433 $433 
Total$9,224 $9,224 $433 $433 
(1)Includes forbearance payments, term extensions and principal deferments that modify the terms of the loan from principal and interest payments to interest payments only.
Summary of TDR loans subsequently defaulted The following table presents information on loans that entered into default during the three months ended March 31, 2022 and 2021 that were modified as TDRs during the 12 months preceding payment default:
($ in thousands)Loans Modified as TDRs that Subsequently Defaulted
During the Three Months Ended March 31,
20222021
Number of
Loans		Recorded
Investment		Number of
Loans		Recorded
Investment
Commercial:
C&I1 $3,250 1 $11,538 
Total1 $3,250 1 $11,538 
Financing Receivable Credit Quality Indicators, Key Credit Risk Characteristics and Macroeconomic Variables
The following table provides key credit risk characteristics and macroeconomic variables that the Company uses to estimate the expected credit losses by portfolio segment:
Portfolio SegmentRisk CharacteristicsMacroeconomic Variables
C&I
Age (1), size and spread at origination, and risk rating
Volatility Index (“VIX”) and BBB yield to 10-year U.S. Treasury spread (“BBB Spread”) (1)
CRE, Multifamily residential, and Construction and landDelinquency status, maturity date, collateral value, property type, and geographic locationUnemployment rate, Gross Domestic Product (“GDP”), and U.S. Treasury rates
Single-family residential and HELOCsFICO score, delinquency status, maturity date, collateral value, and geographic locationUnemployment rate, GDP, and home price index
Other consumerHistorical loss experience
Immaterial (2)
(1)Due to model enhancements during the third quarter of 2021, the risk characteristic related to “time-to-maturity” was changed to “age”; while macroeconomic variables related to “unemployment rate and two- and ten-year U.S. Treasury spread” were changed to “VIX and BBB Spread”.
(2)Macroeconomic variables are included in the qualitative estimate.
Summary of activity in the allowance for credit losses
The following tables summarize the activity in the allowance for loan losses by portfolio segments for the three months ended March 31, 2022 and 2021:
($ in thousands)Three Months Ended March 31, 2022
CommercialConsumerTotal
C&ICREResidential MortgageOther
Consumer
CREMultifamily
Residential		Construction
and Land		Single-
Family
Residential		HELOCs
Allowance for loan losses, beginning of period
$338,252 $150,940 $14,400 $15,468 $17,160 $3,435 $1,924 $541,579 
Provision for (reversal of) credit losses on loans(a)9,262 (3,493)9,657 (4,506)926 299 107 12,252 
Gross charge-offs(11,188)(398)(1)— — — (46)(11,633)
Gross recoveries3,002 55 120 54 124 14 — 3,369 
Total net (charge-offs) recoveries(8,186)(343)119 54 124 14 (46)(8,264)
Foreign currency translation adjustment118 — — — — — — 118 
Allowance for loan losses, end of period
$339,446 $147,104 $24,176 $11,016 $18,210 $3,748 $1,985 $545,685 
($ in thousands)Three Months Ended March 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 
Provision for (reversal of) credit losses on loans
(a)3,839 (10,277)(1,391)8,592 376 22 (113)1,048 
Gross charge-offs(8,436)(7,195)(17)(71)(134)(45)(1)(15,899)
Gross recoveries760 80 1,242 329 77 3 2 2,493 
Total net (charge-offs) recoveries(7,676)(7,115)1,225 258 (57)(42)1 (13,406)
Foreign currency translation adjustment(119)— — — — — — (119)
Allowance for loan losses, end of period
$394,084 $146,399 $27,407 $19,089 $15,839 $2,670 $2,018 $607,506 
The following table summarizes the activities in the allowance for unfunded credit commitments for the three months ended March 31, 2022 and 2021:
($ in thousands)Three Months Ended March 31,
20222021
Unfunded credit facilities
Allowance for unfunded credit commitments, beginning of period$27,514 $33,577 
Reversal of credit losses on unfunded credit commitments(b)(4,252)(1,048)
Allowance for unfunded credit commitments, end of period23,262 32,529 
Provision for credit losses(a) + (b)$8,000 $— 
Schedule of carrying value of loans purchased for the held-for-investment portfolio, loans sold and loans transferred from held-for-investment to held-for-sale at lower of cost or fair value The following tables provide information on the carrying value of loans transferred, loans sold and purchased for the held-for-investment portfolio, during the three months ended March 31, 2022 and 2021:
($ in thousands)Three Months Ended March 31, 2022
CommercialConsumerTotal
C&ICREResidential Mortgage
CREMultifamily
Residential		Single-Family
Residential
Loans transferred from held-for-investment to held-for-sale (1)
$111,437 $21,780 $— $— $133,217 
Sales (2)(3)(4)
$107,474 $21,780 $— $451 $129,705 
Purchases (5)
$110,596 $— $— $114,375 $224,971 
($ in thousands)Three Months Ended March 31, 2021
CommercialConsumerTotal
C&ICREResidential Mortgage
CREMultifamily
Residential		Single-Family
Residential
Loans transferred from held-for-investment to held-for-sale (1)
$125,840 $20,032 $— $— $145,872 
Sales (2)(3)(4)
$125,879 $20,032 $— $7,506 $153,417 
Purchases (5)
$178,678 $— $370 $131,800 $310,848 
(1)Includes write-downs of $59 thousand and $39 thousand to the allowance for loan losses related to loans transferred from held-for-investment to held-for-sale for the three months ended March 31, 2022 and 2021, respectively.
(2)Includes originated loans sold of $112.3 million and $131.0 million for the three months ended March 31, 2022 and 2021, respectively. Originated loans sold consisted primarily of C&I loans for both periods.
(3)Includes $17.4 million and $22.4 million of purchased loans sold in the secondary market for the three months ended March 31, 2022 and 2021, respectively.
(4)Net gains on sales of loans were $2.9 million and $1.8 million for the three months ended March 31, 2022 and 2021, respectively.
(5)C&I loan purchases were comprised primarily of syndicated C&I term loans.