Loans Receivable and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2025

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, 2025 and December 31, 2024:

($ in thousands)	March 31, 2025		December 31, 2024
Commercial:
C&I	$	17,460,744	$	17,397,158
CRE:
CRE	14,868,361		14,655,340
Multifamily residential	5,007,969		4,953,442
Construction and land	653,630		666,162
Total CRE	20,529,960		20,274,944
Total commercial	37,990,704		37,672,102
Consumer:
Residential mortgage:
Single-family residential	14,383,562		14,175,446
Home equity lines of credit (“HELOCs”)	1,827,837		1,811,628
Total residential mortgage	16,211,399		15,987,074
Other consumer	50,631		67,461
Total consumer	16,262,030		16,054,535
Total loans held-for-investment (1)	$	54,252,734	$	53,726,637
Allowance for loan losses	(734,856)		(702,052)
Loans held-for-investment, net (1)	$	53,517,878	$	53,024,585

(1)Includes $36 million and $46 million of net deferred loan fees and net unamortized premiums as of March 31, 2025 and December 31, 2024, 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. Gross write-offs in the following tables are for the three months ended March 31, 2025, and year ended December 31, 2024. Revolving loans that are converted to term loans presented in the tables below are excluded from the term loans by vintage year columns.

	March 31, 2025
	Term Loans by Origination Year
($ in thousands)	2025		2024		2023		2022		2021		Prior		Revolving Loans		Revolving Loans Converted to Term Loans (1)		Total
Commercial:
C&I:
Pass	$	536,257	$	2,495,604	$	1,284,574	$	924,021	$	599,028	$	478,909	$	10,637,412	$	39,025	$	16,994,830
Criticized (accrual)	653		43,822		31,427		50,138		72,115		36,503		155,677		—		390,335
Criticized (nonaccrual)	284		4,461		27,004		21,986		10,266		11,511		67		—		75,579
Total C&I	537,194		2,543,887		1,343,005		996,145		681,409		526,923		10,793,156		39,025		17,460,744
Gross write-offs (2)	—		—		—		46		418		253		—		—		717
CRE:
Pass	626,306		1,612,384		2,209,065		3,559,562		1,876,657		4,241,478		110,625		49,000		14,285,077
Criticized (accrual)	—		34,384		100,717		113,114		55,208		259,557		—		14,751		577,731
Criticized (nonaccrual)	—		—		—		465		836		4,252		—		—		5,553
Subtotal CRE	626,306		1,646,768		2,309,782		3,673,141		1,932,701		4,505,287		110,625		63,751		14,868,361
Gross write-offs	—		—		—		—		19		13,918		—		—		13,937
Multifamily residential:
Pass	226,636		390,608		504,267		1,269,597		704,413		1,803,284		17,332		1,246		4,917,383
Criticized (accrual)	—		—		—		48,930		34,194		2,907		—		—		86,031
Criticized (nonaccrual)	—		—		—		—		—		4,555		—		—		4,555
Subtotal multifamily residential	226,636		390,608		504,267		1,318,527		738,607		1,810,746		17,332		1,246		5,007,969
Gross write-offs	—		—		—		—		—		4		—		—		4
Construction and land:
Pass	19,285		100,946		329,974		178,589		21,126		3,710		—		—		653,630
Subtotal construction and land	19,285		100,946		329,974		178,589		21,126		3,710		—		—		653,630
Total CRE	872,227		2,138,322		3,144,023		5,170,257		2,692,434		6,319,743		127,957		64,997		20,529,960
Total CRE gross write-offs (2)	—		—		—		—		19		13,922		—		—		13,941
Total commercial	$	1,409,421	$	4,682,209	$	4,487,028	$	6,166,402	$	3,373,843	$	6,846,666	$	10,921,113	$	104,022	$	37,990,704
Total commercial gross write-offs (2)	$	—	$	—	$	—	$	46	$	437	$	14,175	$	—	$	—	$	14,658

	March 31, 2025
	Term Loans by Origination Year
($ in thousands)	2025		2024		2023		2022		2021		Prior		Revolving Loans		Revolving Loans Converted to Term Loans (1)		Total
Consumer:
Residential mortgage:
Single-family residential:
Pass (3)	$	704,247	$	2,230,645	$	2,665,707	$	3,007,253	$	2,030,062	$	3,687,561	$	—	$	—	$	14,325,475
Criticized (accrual)	—		2,222		2,622		3,478		1,786		6,631		—		—		16,739
Criticized (nonaccrual) (3)	—		6,616		11,705		3,308		7,457		12,262		—		—		41,348
Subtotal single-family residential mortgage	704,247		2,239,483		2,680,034		3,014,039		2,039,305		3,706,454		—		—		14,383,562
Gross write-offs	—		9		—		—		—		—		—		—		9
HELOCs:
Pass	517		6,812		3,443		3,388		2,472		11,011		1,660,563		92,591		1,780,797
Criticized (accrual)	—		742		183		1,002		1,658		11,015		6,037		1,153		21,790
Criticized (nonaccrual)	—		4,977		1,152		3,189		52		10,883		—		4,997		25,250
Subtotal HELOCs	517		12,531		4,778		7,579		4,182		32,909		1,666,600		98,741		1,827,837
Total residential mortgage	704,764		2,252,014		2,684,812		3,021,618		2,043,487		3,739,363		1,666,600		98,741		16,211,399
Total residential mortgage gross write-offs	—		9		—		—		—		—		—		—		9
Other consumer:
Pass	4,257		679		—		23,004		131		6,797		15,660		—		50,528
Criticized (accrual)	6		—		—		—		—		—		—		—		6
Criticized (nonaccrual)	—		—		—		—		—		—		97		—		97
Total other consumer	4,263		679		—		23,004		131		6,797		15,757		—		50,631
Total consumer	$	709,027	$	2,252,693	$	2,684,812	$	3,044,622	$	2,043,618	$	3,746,160	$	1,682,357	$	98,741	$	16,262,030
Total consumer gross write-offs (2)	$	—	$	9	$	—	$	—	$	—	$	—	$	—	$	—	$	9
Total loans held-for-investment:
Pass	$	2,117,505	$	6,837,678	$	6,997,030	$	8,965,414	$	5,233,889	$	10,232,750	$	12,441,592	$	181,862	$	53,007,720
Criticized (accrual)	659		81,170		134,949		216,662		164,961		316,613		161,714		15,904		1,092,632
Criticized (nonaccrual)	284		16,054		39,861		28,948		18,611		43,463		164		4,997		152,382
Total	$	2,118,448	$	6,934,902	$	7,171,840	$	9,211,024	$	5,417,461	$	10,592,826	$	12,603,470	$	202,763	$	54,252,734
Total loans held-for-investment gross write-offs (2)	$	—	$	9	$	—	$	46	$	437	$	14,175	$	—	$	—	$	14,667

	December 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	$	2,605,928	$	1,508,948	$	999,586	$	612,015	$	243,528	$	295,884	$	10,574,404	$	23,032	$	16,863,325
Criticized (accrual)	34,412		51,415		61,041		107,355		10,538		31,160		151,747		—		447,668
Criticized (nonaccrual)	3,822		29,181		20,273		10,666		3,225		9,135		9,863		—		86,165
Total C&I	2,644,162		1,589,544		1,080,900		730,036		257,291		336,179		10,736,014		23,032		17,397,158
Gross write-offs (2)	20		47,963		14,848		11,119		1,568		3,012		27,099		—		105,629
CRE:
Pass	1,660,877		2,296,763		3,692,498		1,925,220		1,296,439		3,176,450		96,791		49,302		14,194,340
Criticized (accrual)	34,543		44,557		90,105		31,615		75,578		167,401		—		14,771		458,570
Criticized (nonaccrual)	—		—		—		—		1,756		674		—		—		2,430
Subtotal CRE	1,695,420		2,341,320		3,782,603		1,956,835		1,373,773		3,344,525		96,791		64,073		14,655,340
Gross write-offs (2)	—		—		—		—		—		3		—		—		3
Multifamily residential:
Pass	386,743		521,754		1,337,599		752,230		613,115		1,242,586		14,640		1,253		4,869,920
Criticized (accrual)	—		—		43,997		32,042		—		2,911		—		—		78,950
Criticized (nonaccrual)	—		—		—		—		—		4,572		—		—		4,572
Subtotal multifamily residential	386,743		521,754		1,381,596		784,272		613,115		1,250,069		14,640		1,253		4,953,442
Gross write-offs	—		—		—		—		—		10		—		—		10
Construction and land:
Pass	90,926		328,803		184,792		41,932		—		8,393		—		—		654,846
Criticized (nonaccrual)	—		—		11,316		—		—		—		—		—		11,316
Subtotal construction and land	90,926		328,803		196,108		41,932		—		8,393		—		—		666,162
Gross write-offs	—		—		2,289		—		—		—		—		—		2,289
Total CRE	2,173,089		3,191,877		5,360,307		2,783,039		1,986,888		4,602,987		111,431		65,326		20,274,944
Total CRE gross write-offs (2)	—		—		2,289		—		—		13		—		—		2,302
Total commercial	$	4,817,251	$	4,781,421	$	6,441,207	$	3,513,075	$	2,244,179	$	4,939,166	$	10,847,445	$	88,358	$	37,672,102
Total commercial gross write-offs (2)	$	20	$	47,963	$	17,137	$	11,119	$	1,568	$	3,025	$	27,099	$	—	$	107,931

	December 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 (3)	$	2,360,674	$	2,762,921	$	3,074,668	$	2,079,323	$	1,407,031	$	2,437,446	$	—	$	—	$	14,122,063
Criticized (accrual)	4,175		3,409		750		5,810		1,548		6,069		—		—		21,761
Criticized (nonaccrual) (3)	2,716		9,673		1,929		2,035		2,404		12,865		—		—		31,622
Subtotal single-family residential mortgage	2,367,565		2,776,003		3,077,347		2,087,168		1,410,983		2,456,380		—		—		14,175,446
Gross write-offs (2)	9		—		—		—		—		—		—		—		9
HELOCs:
Pass	7,453		3,288		4,071		3,236		7,570		8,152		1,648,337		99,488		1,781,595
Criticized (accrual)	1,436		—		1,420		—		135		2,064		2,338		594		7,987
Criticized (nonaccrual)	3,161		3,095		2,520		39		418		7,301		—		5,512		22,046
Subtotal HELOCs	12,050		6,383		8,011		3,275		8,123		17,517		1,650,675		105,594		1,811,628
Gross write-offs	—		10		—		—		—		—		—		5		15
Total residential mortgage	2,379,615		2,782,386		3,085,358		2,090,443		1,419,106		2,473,897		1,650,675		105,594		15,987,074
Total residential mortgage gross write-offs (2)	9		10		—		—		—		—		—		5		24
Other consumer:
Pass	14,916		—		22,992		132		—		6,800		22,555		—		67,395
Criticized (nonaccrual)	—		—		—		—		—		—		66		—		66
Total other consumer	14,916		—		22,992		132		—		6,800		22,621		—		67,461
Gross write-offs (2)	—		3,000		—		—		—		—		890		—		3,890
Total consumer	$	2,394,531	$	2,782,386	$	3,108,350	$	2,090,575	$	1,419,106	$	2,480,697	$	1,673,296	$	105,594	$	16,054,535
Total consumer gross write-offs (2)	$	9	$	3,010	$	—	$	—	$	—	$	—	$	890	$	5	$	3,914
Total loans held-for-investment:
Pass	$	7,127,517	$	7,422,477	$	9,316,206	$	5,414,088	$	3,567,683	$	7,175,711	$	12,356,727	$	173,075	$	52,553,484
Criticized (accrual)	74,566		99,381		197,313		176,822		87,799		209,605		154,085		15,365		1,014,936
Criticized (nonaccrual)	9,699		41,949		36,038		12,740		7,803		34,547		9,929		5,512		158,217
Total	$	7,211,782	$	7,563,807	$	9,549,557	$	5,603,650	$	3,663,285	$	7,419,863	$	12,520,741	$	193,952	$	53,726,637
Total loans held-for-investment gross write-offs (2)	$	29	$	50,973	$	17,137	$	11,119	$	1,568	$	3,025	$	27,989	$	5	$	111,845

(1)$16 million of total commercial loans, comprised of C&I revolving loans, were converted to term loans during the three months ended March 31, 2025. In comparison, $7 million of total commercial loans, comprised of C&I and CRE revolving loans and $15 million of total consumer loans, comprised of HELOCs, converted to term loans during the three months ended March 31, 2024.

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

(3)$1 million of nonaccrual loans whose payments were guaranteed by the Federal Housing Administration were classified with a “Pass” rating as of both March 31, 2025 and December 31, 2024.

Schedule of Aging Analysis of Loans

The following tables present the aging analysis of loans held-for-investment as of March 31, 2025 and December 31, 2024:

	March 31, 2025
($ 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	$	17,359,512	$	25,254	$	399	$	25,653	$	75,579	$	17,460,744
CRE:
CRE	14,862,806		—		1		1		5,554		14,868,361
Multifamily residential	5,002,008		1,407		—		1,407		4,554		5,007,969
Construction and land	653,630		—		—		—		—		653,630
Total CRE	20,518,444		1,407		1		1,408		10,108		20,529,960
Total commercial	37,877,956		26,661		400		27,061		85,687		37,990,704
Consumer:
Residential mortgage:
Single-family residential	14,276,842		47,184		17,370		64,554		42,166		14,383,562
HELOCs	1,772,312		8,500		21,775		30,275		25,250		1,827,837
Total residential mortgage	16,049,154		55,684		39,145		94,829		67,416		16,211,399
Other consumer	48,573		1,883		78		1,961		97		50,631
Total consumer	16,097,727		57,567		39,223		96,790		67,513		16,262,030
Total	$	53,975,683	$	84,228	$	39,623	$	123,851	$	153,200	$	54,252,734

	December 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	$	17,288,138	$	5,690	$	17,165	$	22,855	$	86,165	$	17,397,158
CRE:
CRE	14,647,270		3,755		1,885		5,640		2,430		14,655,340
Multifamily residential	4,947,939		653		278		931		4,572		4,953,442
Construction and land	653,919		927		—		927		11,316		666,162
Total CRE	20,249,128		5,335		2,163		7,498		18,318		20,274,944
Total commercial	37,537,266		11,025		19,328		30,353		104,483		37,672,102
Consumer:
Residential mortgage:
Single-family residential	14,088,086		32,841		22,096		54,937		32,423		14,175,446
HELOCs	1,770,218		11,396		7,968		19,364		22,046		1,811,628
Total residential mortgage	15,858,304		44,237		30,064		74,301		54,469		15,987,074
Other consumer	67,288		92		15		107		66		67,461
Total consumer	15,925,592		44,329		30,079		74,408		54,535		16,054,535
Total	$	53,462,858	$	55,354	$	49,407	$	104,761	$	159,018	$	53,726,637

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, 2025 and December 31, 2024. 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, 2025		December 31, 2024
Commercial:
C&I	$	56,115	$	79,591
CRE	3,848		—
Multifamily residential	—		4,210
Construction and land	—		11,316
Total commercial	59,963		95,117
Consumer:
Single-family residential	10,879		6,279
HELOCs	8,204		15,380
Total consumer	19,083		21,659
Total nonaccrual loans with no related allowance for loan losses	$	79,046	$	116,776

Schedule of Modified Loans

The following tables present the amortized cost of loans that were modified during the three months ended March 31, 2025 and 2024 by loan class and modification type:

	Three Months Ended March 31, 2025
	Modification Type
($ in thousands)	Term Extension		Payment Delay		Combination: Term Extension/ Payment Delay		Total		Modification as a % of Loan Class
Commercial:
C&I	$	15,651	$	—	$	23,749	$	39,400	0.23	%
CRE	18,362		—		—		18,362		0.09	%
Total commercial	34,013		—		23,749		57,762
Consumer:
Single-family residential	—		4,061		88		4,149		0.03	%
HELOCs	—		975		911		1,886		0.10	%
Total consumer	—		5,036		999		6,035
Total	$	34,013	$	5,036	$	24,748	$	63,797

	Three Months Ended March 31, 2024
	Modification Type
($ in thousands)	Term Extension		Payment Delay		Combination: Term Extension/ 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

The following table presents the financial effects of the loan modifications for the three months ended March 31, 2025 and 2024 by loan class and modification type:

	Financial Effects of Loan Modifications for the Three Months Ended March 31,
	2025				2024
($ in thousands)	Weighted-Average Interest Rate Reduction		Weighted-Average Term Extension (in years)	Weighted-Average Payment Delay (in years)	Weighted-Average Interest Rate Reduction		Weighted-Average Term Extension (in years)	Weighted-Average Payment Delay (in years)
Commercial:
C&I	—	%	1.1	1.0	—	%	1.8	1.7
CRE	—	%	5.0	0.0	2.75	%	1.5	1.7
Consumer:
Single-family residential	—	%	10.0	1.0	—	%	0.0	0.7
HELOCs	—	%	17.6	15.4	0.25	%	0.0	3.2

Schedule of Financing Receivable, Modified, Subsequent Default

The following tables present information on loans that defaulted during the three months ended March 31, 2025 and 2024 that received modifications during the 12 months preceding payment default.

	Loans Modified Subsequently Defaulted During the Three Months Ended March 31, 2025
($ in thousands)	Term Extension		Payment Delay		Combination: Rate Reduction/ Payment Delay		Total
Commercial:
C&I	$	—	$	2,193	$	—	$	2,193
CRE	22,631		—		—		22,631
Total commercial	22,631		2,193		—		24,824
Consumer:
Single-family residential	—		3,455		—		3,455
HELOCs	—		2,121		—		2,121
Total consumer	—		5,576		—		5,576
Total	$	22,631	$	7,769	$	—	$	30,400

	Loans Modified Subsequently Defaulted During the Three Months Ended March 31, 2024
($ in thousands)	Term Extension		Payment Delay		Combination: Rate Reduction/ 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

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 during the three months ended March 31, 2025 and 2024, that received modifications during the 12 months preceding payment default:

	Payment Performance as of March 31, 2025
($ in thousands)	Current		30 - 89 Days Past Due		90+ Days Past Due		Total
Commercial:
C&I	$	80,147	$	3,608	$	1,515	$	85,270
CRE	66,320		—		—		66,320
Total commercial	146,467		3,608		1,515		151,590
Consumer:
Single-family residential	8,122		3,469		3,597		15,188
HELOCs	5,137		2,369		3,796		11,302
Total consumer	13,259		5,838		7,393		26,490
Total	$	159,726	$	9,446	$	8,908	$	178,080

	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

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
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 - 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 months ended March 31, 2025 and 2024:

		Three Months Ended March 31, 2025
		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		$	384,319	$	218,677	$	32,117	$	17,497	$	44,816	$	3,132	$	1,494	$	702,052
Provision for (reversal of) credit losses on loans	(a)	36,370		8,105		201		(305)		2,072		1,739		(120)		48,062
Gross charge-offs		(988)		(13,937)		(4)		(1,996)		(9)		—		(49)		(16,983)
Gross recoveries		1,564		54		10		3		50		8		13		1,702
Total net recoveries (charge-offs)		576		(13,883)		6		(1,993)		41		8		(36)		(15,281)
Foreign currency translation adjustment		23		—		—		—		—		—		—		23
Allowance for loan losses, end of period		$	421,288	$	212,899	$	32,324	$	15,199	$	46,929	$	4,879	$	1,338	$	734,856

		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)	274		19,132		3,032		1,381		899		(432)		(132)		24,154
Gross charge-offs		(20,998)		(2,398)		(6)		(1,224)		—		—		(58)		(24,684)
Gross recoveries		1,710		134		17		193		5		48		—		2,107
Total net (charge-offs) recoveries		(19,288)		(2,264)		11		(1,031)		5		48		(58)		(22,577)
Foreign currency translation adjustment		(40)		—		—		—		—		—		—		(40)
Allowance for loan losses, end of period		$	373,631	$	187,460	$	37,418	$	10,819	$	55,922	$	3,563	$	1,467	$	670,280

The following table summarizes the activity in the allowance for unfunded credit commitments for the three months ended March 31, 2025 and 2024:

		Three Months Ended March 31,
($ in thousands)		2025		2024
Unfunded credit facilities
Allowance for unfunded credit commitments, beginning of period		$	39,526	$	37,699
Provision for credit losses on unfunded credit commitments	(b)	938		846
Allowance for unfunded credit commitments, end of period		$	40,464	$	38,545
Provision for credit losses	(a) + (b)	$	49,000	$	25,000

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, 2025 and 2024:

	Three Months Ended March 31, 2025
	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)	$	6,356		$	20,338	$	9,500	$	—	$	36,194
Sales (2) (3)	$	6,356		$	20,338	$	11,316	$	—	$	38,010
Purchases	$	136,943	(4)	$	—	$	—	$	87,364	$	224,307

	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

(1)Includes write-downs of $2 million and $1 million 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, 2025, and 2024, respectively.

(2)Includes originated loans sold of $34 million and $92 million for the three months ended March 31, 2025 and 2024, respectively. Originated loans sold consisted primarily of CRE and construction loans for three months ended March 31, 2025 and C&I for three months ended March 31, 2024.

(3)Includes $4 million and $96 million of purchased loans sold in the secondary market for the three months ended March 31, 2025 and 2024, respectively.

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