Loans Receivable and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024 and December 31, 2023:

($ in thousands)	March 31, 2024		December 31, 2023
Commercial:
C&I	$	16,350,191	$	16,581,079
CRE:
CRE	14,609,655		14,777,081
Multifamily residential	5,010,245		5,023,163
Construction and land	673,939		663,868
Total CRE	20,293,839		20,464,112
Total commercial	36,644,030		37,045,191
Consumer:
Residential mortgage:
Single-family residential	13,563,738		13,383,060
HELOCs	1,731,233		1,722,204
Total residential mortgage	15,294,971		15,105,264
Other consumer	53,503		60,327
Total consumer	15,348,474		15,165,591
Total loans held-for-investment (1)	$	51,992,504	$	52,210,782
Allowance for loan losses	(670,280)		(668,743)
Loans held-for-investment, net (1)	$	51,322,224	$	51,542,039

(1)Includes $63 million and $71 million of net deferred loan fees and net unamortized premiums as of March 31, 2024 and December 31, 2023, respectively.

Schedule Of Loans Held-For-Investment By Loan Portfolio Segments, Internal Risk Ratings, Gross Write-Offs And Vintage Year

The following tables summarize the Company’s loans held-for-investment and year-to-date gross write-offs by loan portfolio segments, internal risk ratings and vintage year as of the periods presented. The vintage year is the year of loan origination, renewal or major modification. Revolving loans that are converted to term loans presented in the tables below are excluded from term loans by vintage year columns.

	March 31, 2024
	Term Loans by Origination Year
($ in thousands)	2024		2023		2022		2021		2020		Prior		Revolving Loans			Revolving Loans Converted to Term Loans (1)		Total
Commercial:
C&I:
Pass	$	494,511	$	2,181,627	$	1,390,042	$	1,162,380	$	290,790	$	357,396	$	9,858,874		$	23,801	$	15,759,421
Criticized (accrual)	15		80,137		146,122		126,563		8,378		61,936		118,657			—		541,808
Criticized (nonaccrual)	—		15,676		10,179		631		4,193		17,313		970			—		48,962
Total C&I	494,526		2,277,440		1,546,343		1,289,574		303,361		436,645		9,978,501			23,801		16,350,191
Gross write-offs for the three months ended March 31, 2024 (2)	—		221		11,550		3,047		488		1,528		(56)		(3)	—		16,778
CRE:
Pass	310,715		2,415,104		3,940,346		2,125,414		1,412,088		3,815,741		90,300			48,880		14,158,588
Criticized (accrual)	—		66,187		54,141		26,402		53,926		200,610		—			14,795		416,061
Criticized (nonaccrual)	—		1,750		—		—		—		33,256		—			—		35,006
Subtotal CRE	310,715		2,483,041		3,994,487		2,151,816		1,466,014		4,049,607		90,300			63,675		14,609,655
Gross write-offs for the three months ended March 31, 2024	—		—		—		—		—		2,398		—			—		2,398
Multifamily residential:
Pass	43,746		652,947		1,482,963		794,023		645,391		1,329,341		6,831			1,275		4,956,517
Criticized (accrual)	—		13,939		—		31,882		—		3,261		—			—		49,082
Criticized (nonaccrual)	—		—		—		—		—		4,646		—			—		4,646
Subtotal multifamily residential	43,746		666,886		1,482,963		825,905		645,391		1,337,248		6,831			1,275		5,010,245
Gross write-offs for the three months ended March 31, 2024	—		—		—		—		—		6		—			—		6
Construction and land:
Pass	2,980		266,224		234,093		124,830		1,603		6,290		8,795			—		644,815
Criticized (accrual)	—		—		16,888		—		—		—		—			—		16,888
Criticized (nonaccrual)	—		—		12,236		—		—		—		—			—		12,236
Subtotal construction and land	2,980		266,224		263,217		124,830		1,603		6,290		8,795			—		673,939
Gross write-offs for the three months ended March 31, 2024	—		—		1,224		—		—		—		—			—		1,224
Total CRE	357,441		3,416,151		5,740,667		3,102,551		2,113,008		5,393,145		105,926			64,950		20,293,839
Total CRE gross write-offs for the three months ended March 31, 2024	—		—		1,224		—		—		2,404		—			—		3,628
Total commercial	$	851,967	$	5,693,591	$	7,287,010	$	4,392,125	$	2,416,369	$	5,829,790	$	10,084,427		$	88,751	$	36,644,030
Total commercial gross write-offs for the three months ended March 31, 2024 (2)	$	—	$	221	$	12,774	$	3,047	$	488	$	3,932	$	(56)	(3)	$	—	$	20,406

	March 31, 2024
	Term Loans by Origination Year
($ in thousands)	2024		2023		2022		2021		2020		Prior		Revolving Loans			Revolving Loans Converted to Term Loans (1)		Total
Consumer:
Residential mortgage:
Single-family residential:
Pass (4)	$	547,073	$	3,077,628	$	3,285,262	$	2,236,107	$	1,553,848	$	2,814,348	$	—		$	—	$	13,514,266
Criticized (accrual)	—		3,196		—		1,764		3,910		5,583		—			—		14,453
Criticized (nonaccrual) (4)	—		7,860		5,874		3,389		3,718		14,178		—			—		35,019
Subtotal single-family residential mortgage	547,073		3,088,684		3,291,136		2,241,260		1,561,476		2,834,109		—			—		13,563,738
HELOCs:
Pass	4,798		3,655		3,394		2,817		5,107		9,288		1,561,308			123,131		1,713,498
Criticized (accrual)	—		808		2,435		360		—		670		718			1,246		6,237
Criticized (nonaccrual)	—		65		518		219		—		5,906		—			4,790		11,498
Subtotal HELOCs	4,798		4,528		6,347		3,396		5,107		15,864		1,562,026			129,167		1,731,233
Total residential mortgage	551,871		3,093,212		3,297,483		2,244,656		1,566,583		2,849,973		1,562,026			129,167		15,294,971
Other consumer:
Pass	2,132		632		18,101		134		—		6,861		22,481			—		50,341
Criticized (accrual)	—		—		—		—		—		—		3,000			—		3,000
Criticized (nonaccrual)	—		—		—		—		—		—		162			—		162
Total other consumer	2,132		632		18,101		134		—		6,861		25,643			—		53,503
Gross write-offs for the three months ended March 31, 2024 (2)	—		—		—		—		—		—		2			—		2
Total consumer	$	554,003	$	3,093,844	$	3,315,584	$	2,244,790	$	1,566,583	$	2,856,834	$	1,587,669		$	129,167	$	15,348,474
Total consumer gross write-offs for the three months ended March 31, 2024 (2)	$	—	$	—	$	—	$	—	$	—	$	—	$	2		$	—	$	2
Total loans held-for-investment:
Pass	$	1,405,955	$	8,597,817	$	10,354,201	$	6,445,705	$	3,908,827	$	8,339,265	$	11,548,589		$	197,087	$	50,797,446
Criticized (accrual)	15		164,267		219,586		186,971		66,214		272,060		122,375			16,041		1,047,529
Criticized (nonaccrual)	—		25,351		28,807		4,239		7,911		75,299		1,132			4,790		147,529
Total	$	1,405,970	$	8,787,435	$	10,602,594	$	6,636,915	$	3,982,952	$	8,686,624	$	11,672,096		$	217,918	$	51,992,504
Total loans held-for-investment gross write-offs for the three months ended March 31, 2024 (2)	$	—	$	221	$	12,774	$	3,047	$	488	$	3,932	$	(54)	(3)	$	—	$	20,408

	December 31, 2023
	Term Loans by Origination Year
($ in thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term Loans (1)		Total
Commercial:
C&I:
Pass	$	2,314,463	$	1,628,560	$	1,296,936	$	331,982	$	245,173	$	164,159	$	10,053,757	$	20,143	$	16,055,173
Criticized (accrual)	105,119		67,899		120,574		15,064		40,920		22,098		117,196		—		488,870
Criticized (nonaccrual)	2,104		7,916		131		4,819		2,979		18,137		950		—		37,036
Total C&I	2,421,686		1,704,375		1,417,641		351,865		289,072		204,394		10,171,903		20,143		16,581,079
Gross write-offs for the year ended December 31, 2023 (2)	350		10,454		424		3,758		9,748		2,648		1,593		—		28,975
CRE:
Pass	2,492,915		4,086,385		2,216,257		1,428,724		1,600,844		2,494,382		92,851		62,771		14,475,129
Criticized (accrual)	36,855		34,485		30,336		48,250		24,437		104,340		—		—		278,703
Criticized (nonaccrual)	—		—		—		—		444		22,805		—		—		23,249
Subtotal CRE	2,529,770		4,120,870		2,246,593		1,476,974		1,625,725		2,621,527		92,851		62,771		14,777,081
Gross write-offs for the year ended December 31, 2023 (2)	—		—		—		—		—		1,329		—		—		1,329
Multifamily residential:
Pass	665,780		1,481,161		808,333		612,408		498,491		857,713		8,690		1,281		4,933,857
Criticized (accrual)	—		3,356		54,614		—		693		25,974		—		—		84,637
Criticized (nonaccrual)	—		—		—		—		—		4,669		—		—		4,669
Subtotal multifamily residential	665,780		1,484,517		862,947		612,408		499,184		888,356		8,690		1,281		5,023,163
Gross write-offs for the year ended December 31, 2023	—		—		—		—		—		3		—		—		3
Construction and land:
Pass	209,775		280,151		120,724		39,928		808		5,501		6,981		—		663,868
Subtotal construction and land	209,775		280,151		120,724		39,928		808		5,501		6,981		—		663,868
Total CRE	3,405,325		5,885,538		3,230,264		2,129,310		2,125,717		3,515,384		108,522		64,052		20,464,112
Total CRE gross write-offs for the year ended December 31, 2023 (2)	—		—		—		—		—		1,332		—		—		1,332
Total commercial	$	5,827,011	$	7,589,913	$	4,647,905	$	2,481,175	$	2,414,789	$	3,719,778	$	10,280,425	$	84,195	$	37,045,191
Total commercial gross write-offs for the year ended December 31, 2023 (2)	350		10,454		424		3,758		9,748		3,980		1,593		—		30,307

	December 31, 2023
	Term Loans by Origination Year
($ in thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term Loans (1)		Total
Consumer:
Residential mortgage:
Single-family residential:
Pass (4)	$	3,188,830	$	3,340,789	$	2,279,802	$	1,594,525	$	980,686	$	1,959,974	$	—	$	—	$	13,344,606
Criticized (accrual)	2,680		4,471		566		1,440		1,503		4,167		—		—		14,827
Criticized (nonaccrual) (4)	4,466		837		3,902		2,081		3,626		8,715		—		—		23,627
Subtotal single-family residential mortgage	3,195,976		3,346,097		2,284,270		1,598,046		985,815		1,972,856		—		—		13,383,060
HELOCs:
Pass	3,641		3,882		1,734		3,153		729		9,251		1,551,074		126,280		1,699,744
Criticized (accrual)	565		1,219		1,872		101		185		1,470		2,548		1,089		9,049
Criticized (nonaccrual)	815		856		413		72		584		6,863		279		3,529		13,411
Subtotal HELOCs	5,021		5,957		4,019		3,326		1,498		17,584		1,553,901		130,898		1,722,204
Gross write-offs for the year ended December 31, 2023 (2)	—		—		—		—		—		41		—		6		47
Total residential mortgage	3,200,997		3,352,054		2,288,289		1,601,372		987,313		1,990,440		1,553,901		130,898		15,105,264
Total residential mortgage gross write-offs for the year ended December 31, 2023 (2)	—		—		—		—		—		41		—		6		47
Other consumer:
Pass	2,286		18,098		135		—		—		13,244		26,432		—		60,195
Criticized (nonaccrual)	—		—		—		—		—		—		132		—		132
Total other consumer	2,286		18,098		135		—		—		13,244		26,564		—		60,327
Total consumer	$	3,203,283	$	3,370,152	$	2,288,424	$	1,601,372	$	987,313	$	2,003,684	$	1,580,465	$	130,898	$	15,165,591
Total consumer gross write-offs for the year ended December 31, 2023 (2)	$	—	$	—	$	—	$	—	$	—	$	41	$	—	$	6	$	47
Total by Risk Rating:
Pass	$	8,877,690	$	10,839,026	$	6,723,921	$	4,010,720	$	3,326,731	$	5,504,224	$	11,739,785	$	210,475	$	51,232,572
Criticized (accrual)	145,219		111,430		207,962		64,855		67,738		158,049		119,744		1,089		876,086
Criticized (nonaccrual)	7,385		9,609		4,446		6,972		7,633		61,189		1,361		3,529		102,124
Total	$	9,030,294	$	10,960,065	$	6,936,329	$	4,082,547	$	3,402,102	$	5,723,462	$	11,860,890	$	215,093	$	52,210,782
Total loans held-for-investment gross write-offs for the year ended December 31, 2023 (2)	$	350	$	10,454	$	424	$	3,758	$	9,748	$	4,021	$	1,593	$	6	$	30,354

(1)$7 million and $12 million of total commercial loans, comprised of C&I and CRE revolving loans, converted to term loans during the three months ended March 31, 2024 and 2023, respectively. During the three months ended March 31, 2024 and 2023, respectively, $15 million and $5 million of total consumer loans, comprised of HELOCs, converted to term loans.

(2)Excludes gross write-offs associated with loans the Company sold or settled.

(3)Represents the remaining unamortized deferred loan fee related to a zero balance loan with no previous charge-offs.

(4)As of both March 31, 2024 and December 31, 2023, $1 million of nonaccrual loans whose payments were 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 loans held-for-investment as of March 31, 2024 and December 31, 2023:

	March 31, 2024
($ in thousands)	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	$	16,281,903	$	4,559	$	14,767	$	19,326	$	48,962	$	16,350,191
CRE:
CRE	14,555,923		18,726		—		18,726		35,006		14,609,655
Multifamily residential	5,005,231		368		—		368		4,646		5,010,245
Construction and land	661,703		—		—		—		12,236		673,939
Total CRE	20,222,857		19,094		—		19,094		51,888		20,293,839
Total commercial	36,504,760		23,653		14,767		38,420		100,850		36,644,030
Consumer:
Residential mortgage:
Single-family residential	13,478,789		33,911		15,369		49,280		35,669		13,563,738
HELOCs	1,699,628		13,877		6,230		20,107		11,498		1,731,233
Total residential mortgage	15,178,417		47,788		21,599		69,387		47,167		15,294,971
Other consumer	53,224		60		57		117		162		53,503
Total consumer	15,231,641		47,848		21,656		69,504		47,329		15,348,474
Total	$	51,736,401	$	71,501	$	36,423	$	107,924	$	148,179	$	51,992,504

	December 31, 2023
($ in thousands)	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	$	16,508,394	$	28,550	$	7,099	$	35,649	$	37,036	$	16,581,079
CRE:
CRE	14,750,315		1,719		1,798		3,517		23,249		14,777,081
Multifamily residential	5,017,897		597		—		597		4,669		5,023,163
Construction and land	650,617		13,251		—		13,251		—		663,868
Total CRE	20,418,829		15,567		1,798		17,365		27,918		20,464,112
Total commercial	36,927,223		44,117		8,897		53,014		64,954		37,045,191
Consumer:
Residential mortgage:
Single-family residential	13,313,455		29,285		15,943		45,228		24,377		13,383,060
HELOCs	1,687,301		12,266		9,226		21,492		13,411		1,722,204
Total residential mortgage	15,000,756		41,551		25,169		66,720		37,788		15,105,264
Other consumer	56,930		3,123		142		3,265		132		60,327
Total consumer	15,057,686		44,674		25,311		69,985		37,920		15,165,591
Total	$	51,984,909	$	88,791	$	34,208	$	122,999	$	102,874	$	52,210,782

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, 2024 and December 31, 2023. Nonaccrual loans may not have an allowance for credit losses if the loan balances are well secured by collateral values and there is no loss expectation.

($ in thousands)	March 31, 2024		December 31, 2023
Commercial:
C&I	$	40,617	$	33,089
CRE	34,431		22,653
Multifamily residential	4,235		4,235
Construction and land	12,236		—
Total commercial	91,519		59,977
Consumer:
Single-family residential	15,380		4,852
HELOCs	6,287		7,256
Total consumer	21,667		12,108
Total nonaccrual loans with no related allowance for loan losses	$	113,186	$	72,085

Summary Of Modified Loans/TDRs

The following tables present the amortized cost of loans that were modified during the three months ended March 31, 2024 and 2023 by loan class and modification type:

	Three Months Ended March 31, 2024
	Modification Type
($ in thousands)	Term Extension		Payment Delay		Combination: Rate Reduction/ Payment Delay		Total		Modification as a % of Loan Class
Commercial:
C&I	$	4,013	$	22,155	$	—	$	26,168	0.16	%
CRE	24,488		—		19,325		43,813		0.22	%
Total commercial	28,501		22,155		19,325		69,981
Consumer:
Single-family residential	—		3,996		—		3,996		0.03	%
HELOCs	—		5,501		517		6,018		0.35	%
Total consumer	—		9,497		517		10,014
Total	$	28,501	$	31,652	$	19,842	$	79,995

	Three Months Ended March 31, 2023
	Modification Type
($ in thousands)	Term Extension		Payment Delay		Combination: Rate Reduction/ Payment Delay		Total		Modification as a % of Loan Class
Commercial:
C&I	$	19,974	$	14,364	$	—	$	34,338	0.22	%
CRE	543		—		—		543		—	%
Total commercial	20,517		14,364		—		34,881
Consumer:
HELOCs	738		—		—		738		0.04	%
Total consumer	738		—		—		738
Total	$	21,255	$	14,364	$	—	$	35,619

The following tables present the financial effects of the loan modifications for the three months ended March 31, 2024 and 2023 by loan class and modification type:

	Financial Effects of Loan Modifications
	Three Months Ended March 31, 2024
($ in thousands)	Weighted-Average Interest Rate Reduction		Weighted-Average Term Extension (in years)	Weighted-Average Payment Delay (in years)
Commercial:
C&I	—		1.8	1.7
CRE	2.75	%	1.5	1.7
Consumer:
Single-family residential	—		0.0	0.7
HELOCs	0.25	%	0.0	3.2

	Financial Effects of Loan Modifications
	Three Months Ended March 31, 2023
($ in thousands)	Weighted-Average Interest Rate Reduction	Weighted-Average Term Extension (in years)	Weighted-Average Payment Delay (in years)
Commercial:
C&I	—	0.9	1.0
CRE	—	2.0	0.0
Consumer:
HELOCs	—	14.8	0.0

The following table presents information on loans that defaulted during the three months ended March 31, 2024 that received modifications during the 12 months preceding payment default:

	Loans Modified Subsequently Defaulted
	Three Months Ended March 31, 2024
($ in thousands)	Term Extension		Payment Delay		Combination: Term Extension/ Payment Delay		Total
Commercial:
C&I	$	7,828	$	—	—		$	7,828
Total commercial	7,828		—		—		7,828
Consumer:
Single-family residential	—		3,972		383		4,355
Total consumer	—		3,972		383		4,355
Total	$	7,828	$	3,972	$	383	$	12,183

Financing Receivable, Modified, Payment Performance

The Company closely monitors the performance of modified loans to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following tables present the performance of loans that were modified in the twelve months ended March 31, 2024. For the comparative period, the amounts represent the performance of loans that were modified in the three months ended March 31, 2023, subsequent to the adoption of ASU 2022-02 on January 1, 2023:

	Payment Performance as of March 31, 2024
($ in thousands)	Current		30 - 89 Days Past Due		90+ Days Past Due		Total
Commercial:
C&I	$	75,193	$	—	$	7,829	$	83,022
CRE	76,028		—		—		76,028
Total commercial	151,221		—		7,829		159,050
Consumer:
Single-family residential	8,455		4,239		5,075		17,769
HELOCs	6,994		2,536		—		9,530
Total consumer	15,449		6,775		5,075		27,299
Total	$	166,670	$	6,775	$	12,904	$	186,349

	Payment Performance as of March 31, 2023
($ in thousands)	Current		30 - 89 Days Past Due		90+ Days Past Due		Total
Commercial:
C&I	$	27,393	$	6,945	$	—	$	34,338
CRE	543		—		—		543
Total commercial	27,936		6,945		—		34,881
Consumer:
HELOCs	738		—		—		738
Total consumer	738		—		—		738
Total	$	28,674	$	6,945	$	—	$	35,619

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 Segment	Risk Characteristics	Macroeconomic Variables
C&I	Age percentage, size at origination, delinquency status, sector and risk rating	Unemployment rate, Gross Domestic Product (“GDP”), and U.S. Treasury rates (1)
CRE, Multifamily residential, and Construction and land	Delinquency status, maturity date, collateral value, property type, and geographic location	Unemployment rate, GDP, and U.S. Treasury rates
Single-family residential and HELOCs	FICO score, delinquency status, maturity date, collateral value, and geographic location	Unemployment rate, GDP, and Home Price Indices
Other consumer	Loss rate approach	Immaterial (2)

(1)Macroeconomic variables were updated due to model redevelopment.

(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, 2024 and 2023:

		Three Months Ended March 31, 2024
		Commercial								Consumer
				CRE						Residential Mortgage
($ in thousands)		C&I		CRE		Multifamily Residential		Construction and Land		Single-Family Residential		HELOCs		Other Consumer		Total
Allowance for loan losses, beginning of period		$	392,685	$	170,592	$	34,375	$	10,469	$	55,018	$	3,947	$	1,657	$	668,743
Provision for (reversal of) credit losses on loans	(a)	275		18,939		3,032		1,574		899		(432)		(132)		24,155
Gross charge-offs		(20,998)		(2,398)		(6)		(1,224)		—		—		(58)		(24,684)
Gross recoveries		1,710		327		17		—		5		48		—		2,107
Total net (charge-offs) recoveries		(19,288)		(2,071)		11		(1,224)		5		48		(58)		(22,577)
Foreign currency translation adjustment		(41)		—		—		—		—		—		—		(41)
Allowance for loan losses, end of period		$	373,631	$	187,460	$	37,418	$	10,819	$	55,922	$	3,563	$	1,467	$	670,280

		Three Months Ended March 31, 2023
		Commercial								Consumer
				CRE						Residential Mortgage
($ in thousands)		C&I		CRE		Multifamily Residential		Construction and Land		Single-Family Residential		HELOCs		Other Consumer		Total
Allowance for loan losses, December 31, 2022		$	371,700	$	149,864	$	23,373	$	9,109	$	35,564	$	4,475	$	1,560	$	595,645
Impact of ASU 2022-02 adoption		5,683		337		6		—		1		1		—		6,028
Allowance for loan losses, January 1, 2023		377,383		150,201		23,379		9,109		35,565		4,476		1,560		601,673
(Reversal of) provision for credit losses on loans	(a)	(678)		4,676		1,135		210		12,442		580		155		18,520
Gross charge-offs		(1,900)		(6)		—		—		—		(91)		(40)		(2,037)
Gross recoveries		1,211		196		12		3		—		6		—		1,428
Total net (charge-offs) recoveries		(689)		190		12		3		—		(85)		(40)		(609)
Foreign currency translation adjustment		309		—		—		—		—		—		—		309
Allowance for loan losses, end of period		$	376,325	$	155,067	$	24,526	$	9,322	$	48,007	$	4,971	$	1,675	$	619,893

The following table summarizes the activities in the allowance for unfunded credit commitments for the three months ended March 31, 2024 and 2023:

		Three Months Ended March 31,
($ in thousands)		2024		2023
Unfunded credit facilities
Allowance for unfunded credit commitments, beginning of period		$	37,699	$	26,264
Provision for credit losses on unfunded credit commitments	(b)	845		1,480
Foreign currency translation adjustment		—		(3)
Allowance for unfunded credit commitments, end of period		$	38,544	$	27,741
Provision for credit losses	(a) + (b)	$	25,000	$	20,000

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, sold and purchased for the held-for-investment portfolio, during the three months ended March 31, 2024 and 2023:

	Three Months Ended March 31, 2024
	Commercial			Consumer
				Residential Mortgage
($ in thousands)	C&I			Single-Family Residential		Total
Loans transferred from held-for-investment to held-for-sale (1)	$	199,974		$	—	$	199,974
Sales (2)(3)	$	187,202		$	965	$	188,167
Purchases	$	33,344	(4)	$	74,736	$	108,080

	Three Months Ended March 31, 2023
	Commercial					Consumer
				CRE		Residential Mortgage
($ in thousands)	C&I			CRE		Single-Family Residential		Total
Loans transferred from held-for-investment to held-for-sale (1)	$	156,876		$	3,600	$	—	$	160,476
Sales (2)(3)	$	175,932		$	3,600	$	—	$	179,532
Purchases	$	22,683	(4)	$	—	$	131,999	$	154,682

(1)Includes write-downs of $1 million and $273 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, 2024, and 2023, respectively.

(2)Includes originated loans sold of $92 million and $111 million for the three months ended March 31, 2024 and 2023, respectively. Originated loans sold consisted primarily of C&I loans for both periods.

(3)Includes $96 million and $69 million of purchased loans sold in the secondary market for the three months ended March 31, 2024 and 2023, respectively.

(4)C&I loan purchases were comprised primarily of syndicated C&I term loans.