Loans Receivable and Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2024 and December 31, 2023:

($ in thousands)	June 30, 2024		December 31, 2023
Commercial:
C&I	$	16,875,009	$	16,581,079
CRE:
CRE	14,562,595		14,777,081
Multifamily residential	5,100,210		5,023,163
Construction and land	664,793		663,868
Total CRE	20,327,598		20,464,112
Total commercial	37,202,607		37,045,191
Consumer:
Residential mortgage:
Single-family residential	13,747,769		13,383,060
HELOCs	1,761,379		1,722,204
Total residential mortgage	15,509,148		15,105,264
Other consumer	56,154		60,327
Total consumer	15,565,302		15,165,591
Total loans held-for-investment (1)	$	52,767,909	$	52,210,782
Allowance for loan losses	(683,794)		(668,743)
Loans held-for-investment, net (1)	$	52,084,115	$	51,542,039

(1)Includes $53 million and $71 million of net deferred loan fees and net unamortized premiums as of June 30, 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.

	June 30, 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	$	1,053,645	$	2,013,510	$	1,248,640	$	1,047,295	$	286,440	$	352,329	$	10,369,005	$	23,548	$	16,394,412
Criticized (accrual)	511		30,279		115,671		80,715		1,908		60,126		124,427		—		413,637
Criticized (nonaccrual)	3,911		14,606		22,752		9,484		3,335		11,929		943		—		66,960
Total C&I	1,058,067		2,058,395		1,387,063		1,137,494		291,683		424,384		10,494,375		23,548		16,875,009
Gross write-offs for the six months ended June 30, 2024 (2)	—		337		11,753		14,342		1,212		1,528		19		—		29,191
CRE:
Pass	726,897		2,337,637		3,885,787		2,053,076		1,371,437		3,573,736		100,131		49,863		14,098,564
Criticized (accrual)	11,005		66,071		55,768		31,633		67,955		185,529		—		14,790		432,751
Criticized (nonaccrual)	—		1,750		—		11,020		469		18,041		—		—		31,280
Subtotal CRE	737,902		2,405,458		3,941,555		2,095,729		1,439,861		3,777,306		100,131		64,653		14,562,595
Gross write-offs for the six months ended June 30, 2024 (2)	—		—		—		—		—		2,261		—		—		2,261
Multifamily residential:
Pass	162,350		671,221		1,480,502		792,114		624,947		1,297,867		17,263		1,268		5,047,532
Criticized (accrual)	—		—		13,380		31,723		—		2,968		—		—		48,071
Criticized (nonaccrual)	—		—		—		—		—		4,607		—		—		4,607
Subtotal multifamily residential	162,350		671,221		1,493,882		823,837		624,947		1,305,442		17,263		1,268		5,100,210
Gross write-offs for the six months ended June 30, 2024	—		—		—		—		—		6		—		—		6
Construction and land:
Pass	15,157		314,253		228,865		88,236		—		6,271		—		—		652,782
Criticized (accrual)	—		—		695		—		—		—		—		—		695
Criticized (nonaccrual)	—		—		11,316		—		—		—		—		—		11,316
Subtotal construction and land	15,157		314,253		240,876		88,236		—		6,271		—		—		664,793
Gross write-offs for the six months ended June 30, 2024	—		—		2,144		—		—		—		—		—		2,144
Total CRE	915,409		3,390,932		5,676,313		3,007,802		2,064,808		5,089,019		117,394		65,921		20,327,598
Total CRE gross write-offs for the six months ended June 30, 2024 (2)	—		—		2,144		—		—		2,267		—		—		4,411
Total commercial	$	1,973,476	$	5,449,327	$	7,063,376	$	4,145,296	$	2,356,491	$	5,513,403	$	10,611,769	$	89,469	$	37,202,607
Total commercial gross write-offs for the six months ended June 30, 2024 (2)	$	—	$	337	$	13,897	$	14,342	$	1,212	$	3,795	$	19	$	—	$	33,602

	June 30, 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 (3)	$	1,162,393	$	2,965,129	$	3,214,153	$	2,175,945	$	1,504,722	$	2,676,170	$	—	$	—	$	13,698,512
Criticized (accrual)	353		1,166		1,701		1,589		1,120		6,077		—		—		12,006
Criticized (nonaccrual) (3)	2,028		11,293		5,201		3,067		2,179		13,483		—		—		37,251
Subtotal single-family residential mortgage	1,164,774		2,977,588		3,221,055		2,180,601		1,508,021		2,695,730		—		—		13,747,769
Gross write-offs for the six months ended June 30, 2024 (2)	—		—		—		—		—		9		—		—		9
HELOCs:
Pass	4,382		3,797		4,712		2,576		3,847		8,253		1,589,193		126,170		1,742,930
Criticized (accrual)	—		1,221		1,072		339		603		993		503		488		5,219
Criticized (nonaccrual)	517		1,208		2,095		930		—		4,513		—		3,967		13,230
Subtotal HELOCs	4,899		6,226		7,879		3,845		4,450		13,759		1,589,696		130,625		1,761,379
Total residential mortgage	1,169,673		2,983,814		3,228,934		2,184,446		1,512,471		2,709,489		1,589,696		130,625		15,509,148
Total residential mortgage gross write-offs for the six months ended June 30, 2024 (2)	—		—		—		—		—		9		—		—		9
Other consumer:
Pass	3,886		37		19,907		133		—		6,858		22,113		—		52,934
Criticized (accrual)	15		—		—		—		—		—		3,000		—		3,015
Criticized (nonaccrual)	—		—		—		—		—		—		205		—		205
Total other consumer	3,901		37		19,907		133		—		6,858		25,318		—		56,154
Gross write-offs for the six months ended June 30, 2024 (2)	—		—		—		—		—		—		22		—		22
Total consumer	$	1,173,574	$	2,983,851	$	3,248,841	$	2,184,579	$	1,512,471	$	2,716,347	$	1,615,014	$	130,625	$	15,565,302
Total consumer gross write-offs for the six months ended June 30, 2024 (2)	$	—	$	—	$	—	$	—	$	—	$	9	$	22	$	—	$	31
Total loans held-for-investment:
Pass	$	3,128,710	$	8,305,584	$	10,082,566	$	6,159,375	$	3,791,393	$	7,921,484	$	12,097,705	$	200,849	$	51,687,666
Criticized (accrual)	11,884		98,737		188,287		145,999		71,586		255,693		127,930		15,278		915,394
Criticized (nonaccrual)	6,456		28,857		41,364		24,501		5,983		52,573		1,148		3,967		164,849
Total	$	3,147,050	$	8,433,178	$	10,312,217	$	6,329,875	$	3,868,962	$	8,229,750	$	12,226,783	$	220,094	$	52,767,909
Total loans held-for-investment gross write-offs for the six months ended June 30, 2024 (2)	$	—	$	337	$	13,897	$	14,342	$	1,212	$	3,804	$	41	$	—	$	33,633

	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) (3)	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)$1 million and $8 million of total commercial loans, comprised of C&I and CRE revolving loans, converted to term loans during the three and six months ended June 30, 2024, respectively. In comparison, $1 million and $14 million of total commercial loans, primarily comprised of CRE revolving loans converted to term loans during the three and six months ended June 30, 2023, respectively. $18 million and $28 million of total consumer loans, comprised of HELOCs, converted to term loans during the three and six months ended June 30, 2024, respectively. In comparison, $10 million and $14 million of total consumer loans, comprised of HELOCs, converted to term loans during the three and six months ended June 30, 2023, respectively.

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

(3)As of both June 30, 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 June 30, 2024 and December 31, 2023:

	June 30, 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	$	16,785,688	$	12,851	$	9,510	$	22,361	$	66,960	$	16,875,009
CRE:
CRE	14,518,793		11,627		895		12,522		31,280		14,562,595
Multifamily residential	5,094,712		891		—		891		4,607		5,100,210
Construction and land	653,477		—		—		—		11,316		664,793
Total CRE	20,266,982		12,518		895		13,413		47,203		20,327,598
Total commercial	37,052,670		25,369		10,405		35,774		114,163		37,202,607
Consumer:
Residential mortgage:
Single-family residential	13,667,351		29,993		12,141		42,134		38,284		13,747,769
HELOCs	1,729,694		13,236		5,219		18,455		13,230		1,761,379
Total residential mortgage	15,397,045		43,229		17,360		60,589		51,514		15,509,148
Other consumer	55,706		158		85		243		205		56,154
Total consumer	15,452,751		43,387		17,445		60,832		51,719		15,565,302
Total	$	52,505,421	$	68,756	$	27,850	$	96,606	$	165,882	$	52,767,909

	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 June 30, 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)	June 30, 2024		December 31, 2023
Commercial:
C&I	$	50,808	$	33,089
CRE	30,674		22,653
Multifamily residential	4,210		4,235
Construction and land	11,316		—
Total commercial	97,008		59,977
Consumer:
Single-family residential	14,461		4,852
HELOCs	7,057		7,256
Total consumer	21,518		12,108
Total nonaccrual loans with no related allowance for loan losses	$	118,526	$	72,085

Schedule Of Modified Loans

The following tables present the amortized cost of loans that were modified during the three and six months ended June 30, 2024 and 2023 by loan class and modification type:

	Three Months Ended June 30, 2024
	Modification Type
($ in thousands)	Term Extension		Payment Delay		Combination: Term Extension/ Payment Delay		Combination: Rate Reduction/ Payment Delay		Total		Modification as a % of Loan Class
Commercial:
C&I	$	11,901	$	5,658	$	2,951	$	—	$	20,510	0.12	%
CRE	—		—		—		11,020		11,020		0.05	%
Total commercial	11,901		5,658		2,951		11,020		31,530
Consumer:
Single-family residential	—		4,791		—		—		4,791		0.03	%
HELOCs	—		2,053		—		—		2,053		0.12	%
Other consumer	3,000		—		—		—		3,000		5.34	%
Total consumer	3,000		6,844		—		—		9,844
Total	$	14,901	$	12,502	$	2,951	$	11,020	$	41,374

	Three Months Ended June 30, 2023
	Modification Type
($ in thousands)	Term Extension		Payment Delay		Combination: Term Extension/ Payment Delay		Combination: Rate Reduction/ Term Extension		Combination: Principal Forgiveness/ Rate Reduction/ Term Extension		Total		Modification as a % of Loan Class
Commercial:
C&I	$	13,475	$	12,788	$	—	$	—	$	298	$	26,561	0.17	%
CRE	—		—		—		32,791		—		32,791		0.16	%
Total commercial	13,475		12,788		—		32,791		298		59,352
Consumer:
Single-family residential	—		5,085		551		—		—		5,636		0.05	%
HELOCs	—		978		—		—		—		978		0.05	%
Total consumer	—		6,063		551		—		—		6,614
Total	$	13,475	$	18,851	$	551	$	32,791	$	298	$	65,966

	Six Months Ended June 30, 2024
	Modification Type
($ in thousands)	Term Extension		Payment Delay		Combination: Term Extension/ Payment Delay		Combination: Rate Reduction/ Payment Delay		Total		Modification as a % of Loan Class
Commercial:
C&I	$	15,601	$	25,886	$	2,951	$	—	$	44,438	0.26	%
CRE	24,321		—		—		30,570		54,891		0.27	%
Total commercial	39,922		25,886		2,951		30,570		99,329
Consumer:
Single-family residential	—		8,528		—		—		8,528		0.06	%
HELOCs	—		6,881		—		517		7,398		0.42	%
Other consumer	3,000		—		—		—		3,000		5.34	%
Total consumer	3,000		15,409		—		517		18,926
Total	$	42,922	$	41,295	$	2,951	$	31,087	$	118,255

	Six Months Ended June 30, 2023
	Modification Type
($ in thousands)	Term Extension		Payment Delay		Combination: Term Extension/ Payment Delay		Combination: Rate Reduction/ Term Extension		Combination: Principal Forgiveness/ Rate Reduction/ Term Extension		Total		Modification as a % of Loan Class
Commercial:
C&I	$	33,098	$	26,799	$	—	$	—	$	298	$	60,195	0.38	%
CRE	526		—		—		32,791		—		33,317		0.17	%
Total commercial	33,624		26,799		—		32,791		298		93,512
Consumer:
Single-family residential	—		5,085		551		—		—		5,636		0.05	%
HELOCs	—		978		726		—		—		1,704		0.09	%
Total consumer	—		6,063		1,277		—		—		7,340
Total	$	33,624	$	32,862	$	1,277	$	32,791	$	298	$	100,852

The following tables present the financial effects of the loan modifications for the three and six months ended June 30, 2024 and 2023 by loan class and modification type:

	Financial Effects of Loan Modifications for the Three Months Ended June 30,
	2024				2023
($ in thousands)	Weighted-Average Interest Rate Reduction		Weighted-Average Term Extension (in years)	Weighted-Average Payment Delay (in years)	Principal Forgiveness			Weighted-Average Interest Rate Reduction			Weighted-Average Term Extension (in years)	Weighted-Average Payment Delay (in years)
Commercial:
C&I	—	%	2.0	2.0	$	345	(1)	8.50	%	(1)	1.7	0.6
CRE	2.50	%	0.0	1.2	—			3.00	%		2.5	0.0
Consumer:
Single-family residential	—	%	0.0	0.8	—			—	%		9.7	0.9
HELOCs	—	%	0.0	0.7	—			—	%		0.0	0.6
Other consumer	—	%	0.8	0.0	—			—	%		0.0	0.0

	Financial Effects of Loan Modifications for the Six Months Ended June 30,
	2024				2023
($ in thousands)	Weighted-Average Interest Rate Reduction		Weighted-Average Term Extension (in years)	Weighted-Average Payment Delay (in years)	Principal Forgiveness			Weighted-Average Interest Rate Reduction			Weighted-Average Term Extension (in years)	Weighted-Average Payment Delay (in years)
Commercial:
C&I	—	%	2.0	1.5	$	345	(1)	8.50	%	(1)	1.5	0.8
CRE	2.66	%	1.5	1.0	—			3.00	%		2.5	0.0
Consumer:
Single-family residential	—	%	0.0	0.8	—			—	%		9.7	0.9
HELOCs	0.25	%	0.0	2.8	—			—	%		14.8	0.5
Other consumer	—	%	0.8	0.0	—			—	%		0.0	0.0

(1)Comprised of a C&I loan modified during the three and six months ended June 30, 2023 where the interest is waived in addition to principal forgiveness.

The following table presents information on loans that defaulted during the three and six months ended June 30, 2024 that received modifications during the 12 months preceding payment default:

	Loans Modified Subsequently Defaulted During Three Months Ended June 30, 2024
($ in thousands)	Term Extension		Payment Delay		Combination: Rate Reduction/ Payment Delay		Combination: Term Extension/ Payment Delay		Total
Commercial:
C&I	$	—	$	5,658	$	—	$	—	$	5,658
Total commercial	—		5,658		—		—		5,658
Consumer:
Single-family residential	—		3,613		—		2,438		6,051
HELOCs	—		941		1,149		—		2,090
Total consumer	—		4,554		1,149		2,438		8,141
Total	$	—	$	10,212	$	1,149	$	2,438	$	13,799

	Loans Modified Subsequently Defaulted During the Six Months Ended June 30, 2024
($ in thousands)	Term Extension		Payment Delay		Combination: Rate Reduction/ Payment Delay		Combination: Term Extension/ Payment Delay		Total
Commercial:
C&I	$	7,829	$	5,658	$	—	$	—	$	13,487
Total commercial	7,829		5,658		—		—		13,487
Consumer:
Single-family residential	—		7,575		—		2,823		10,398
HELOCs	—		941		1,149		—		2,090
Total consumer	—		8,516		1,149		2,823		12,488
Total	$	7,829	$	14,174	$	1,149	$	2,823	$	25,975

Schedule of Financing Receivable, Modified, Payment Performance

The Company 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 June 30, 2024. For the comparative period, the amounts represent the performance of loans that were modified in the six months ended June 30, 2023, subsequent to the adoption of ASU 2022-02 on January 1, 2023:

	Payment Performance as of June 30, 2024
($ in thousands)	Current		30 - 89 Days Past Due		90+ Days Past Due		Total
Commercial:
C&I	$	67,004	$	—	$	7,829	$	74,833
CRE	54,892		—		—		54,892
Total commercial	121,896		—		7,829		129,725
Consumer:
Single-family residential	8,261		1,325		8,240		17,826
HELOCs	6,396		3,296		1,210		10,902
Other consumer	3,000		—		—		3,000
Total consumer	17,657		4,621		9,450		31,728
Total	$	139,553	$	4,621	$	17,279	$	161,453

	Payment Performance as of June 30, 2023
($ in thousands)	Current		30 - 89 Days Past Due		90+ Days Past Due		Total
Commercial:
C&I	$	48,206	$	7,000	$	4,989	$	60,195
CRE	33,317		—		—		33,317
Total commercial	81,523		7,000		4,989		93,512
Consumer:
Single-family residential	5,045		591		—		5,636
HELOCs	1,704		—		—		1,704
Total consumer	6,749		591		—		7,340
Total	$	88,272	$	7,591	$	4,989	$	100,852

Schedule of 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.

Schedule 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 and six months ended June 30, 2024 and 2023:

		Three Months Ended June 30, 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		$	373,631	$	187,460	$	37,418	$	10,819	$	55,922	$	3,563	$	1,467	$	670,280
Provision for (reversal of) credit losses on loans	(a)	17,783		18,287		2,628		4,422		(6,366)		(232)		240		36,762
Gross charge-offs		(13,134)		(11,103)		—		(920)		(35)		—		(130)		(25,322)
Gross recoveries		1,817		150		208		1		2		9		—		2,187
Total net (charge-offs) recoveries		(11,317)		(10,953)		208		(919)		(33)		9		(130)		(23,135)
Foreign currency translation adjustment		(113)		—		—		—		—		—		—		(113)
Allowance for loan losses, end of period		$	379,984	$	194,794	$	40,254	$	14,322	$	49,523	$	3,340	$	1,577	$	683,794

		Three Months Ended June 30, 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, beginning of period		$	376,325	$	155,067	$	24,526	$	9,322	$	48,007	$	4,971	$	1,675	$	619,893
Provision for (reversal of) credit losses on loans	(a)	5,259		15,685		(1,604)		1,995		3,501		(444)		(367)		24,025
Gross charge-offs		(7,335)		(2,366)		—		—		—		(6)		(48)		(9,755)
Gross recoveries		2,065		119		16		8		5		5		—		2,218
Total net (charge-offs) recoveries		(5,270)		(2,247)		16		8		5		(1)		(48)		(7,537)
Foreign currency translation adjustment		(981)		—		—		—		—		—		—		(981)
Allowance for loan losses, end of period		$	375,333	$	168,505	$	22,938	$	11,325	$	51,513	$	4,526	$	1,260	$	635,400

		Six Months Ended June 30, 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)	18,057		37,419		5,660		5,803		(5,467)		(664)		108		60,916
Gross charge-offs		(34,132)		(13,501)		(6)		(2,144)		(35)		—		(188)		(50,006)
Gross recoveries		3,527		284		225		194		7		57		—		4,294
Total net (charge-offs) recoveries		(30,605)		(13,217)		219		(1,950)		(28)		57		(188)		(45,712)
Foreign currency translation adjustment		(153)		—		—		—		—		—		—		(153)
Allowance for loan losses, end of period		$	379,984	$	194,794	$	40,254	$	14,322	$	49,523	$	3,340	$	1,577	$	683,794

		Six Months Ended June 30, 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, beginning of period		377,383		150,201		23,379		9,109		35,565		4,476		1,560		601,673
Provision for (reversal of) credit losses on loans	(a)	4,581		20,361		(469)		2,205		15,943		136		(212)		42,545
Gross charge-offs		(9,235)		(2,372)		—		—		—		(97)		(88)		(11,792)
Gross recoveries		3,276		315		28		11		5		11		—		3,646
Total net (charge-offs) recoveries		(5,959)		(2,057)		28		11		5		(86)		(88)		(8,146)
Foreign currency translation adjustment		(672)		—		—		—		—		—		—		(672)
Allowance for loan losses, end of period		$	375,333	$	168,505	$	22,938	$	11,325	$	51,513	$	4,526	$	1,260	$	635,400

The following table summarizes the activities in the allowance for unfunded credit commitments for the three and six months ended June 30, 2024 and 2023:

		Three Months Ended June 30,				Six Months Ended June 30,
($ in thousands)		2024		2023		2024		2023
Unfunded credit facilities
Allowance for unfunded credit commitments, beginning of period		$	38,544	$	27,741	$	37,698	$	26,264
Provision for credit losses on unfunded credit commitments	(b)	238		1,975		1,084		3,455
Foreign currency translation adjustment		1		12		1		9
Allowance for unfunded credit commitments, end of period		$	38,783	$	29,728	$	38,783	$	29,728
Provision for credit losses	(a) + (b)	$	37,000	$	26,000	$	62,000	$	46,000

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 and six months ended June 30, 2024 and 2023:

	Three Months Ended June 30, 2024
	Commercial							Consumer
				CRE				Residential Mortgage
($ in thousands)	C&I			CRE		Construction and Land		Single-Family Residential		Total
Loans transferred from held-for-investment to held-for-sale (1)	$	138,923		$	—	$	718	$	—	$	139,641
Sales (2)(3)	$	133,906		$	—	$	718	$	—	$	134,624
Purchases	$	170,175	(4)	$	—	$	—	$	111,864	$	282,039

	Three Months Ended June 30, 2023
	Commercial							Consumer
				CRE				Residential Mortgage
($ in thousands)	C&I			CRE		Construction and Land		Single-Family Residential		Total
Loans transferred from held-for-investment to held-for-sale (1)	$	111,396		$	—	$	8,154	$	—	$	119,550
Sales (2)(3)	$	115,735		$	—	$	8,154	$	—	$	123,889
Purchases	$	38,279	(4)	$	—	$	—	$	79,137	$	117,416

	Six Months Ended June 30, 2024
	Commercial							Consumer		Total
				CRE				Residential Mortgage
($ in thousands)	C&I			CRE		Construction and Land		Single-Family Residential
Loans transferred from held-for-investment to held-for-sale (1)	$	338,897		$	—	$	718	$	—	$	339,615
Sales (2)(3)	$	321,108		$	—	$	718	$	965	$	322,791
Purchases	$	203,519	(4)	$	—	$	—	$	186,600	$	390,119

	Six Months Ended June 30, 2023
	Commercial							Consumer		Total
				CRE				Residential Mortgage
($ in thousands)	C&I			CRE		Construction and Land		Single-Family Residential
Loans transferred from held-for-investment to held-for-sale (1)	$	268,272		$	3,600	$	8,154	$	—	$	280,026
Sales (2)(3)	$	291,667		$	3,600	$	8,154	$	—	$	303,421
Purchases	$	60,962	(4)	$	—	$	—	$	211,136	$	272,098

(1)Includes write-downs of $1 million to the allowance for loan losses related to loans transferred from held-for-investment to held-for-sale for both the three and six months ended June 30, 2024, and $308 thousand and $1 million for the three and six months ended June 30, 2023, respectively.

(2)Includes originated loans sold of $95 million and $187 million for the three and six months ended June 30, 2024, respectively, and $92 million and $203 million for the three and six months ended June 30, 2023, respectively. Originated loans sold consisted primarily of C&I loans for each of the three and six months ended June 30, 2024 and 2023.

(3)Includes $40 million and $136 million of purchased loans sold in the secondary market for the three and six months ended June 30, 2024, respectively, and $32 million and $100 million for the three and six months ended June 30, 2023, respectively.

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