

($ in thousands)	September 30, 2025		December 31, 2024
Commercial:
C&I	$	18,001,529	$	17,397,158
CRE:
CRE	15,231,167		14,655,340
Multifamily residential	5,037,284		4,953,442
Construction and land	776,587		666,162
Total CRE	21,045,038		20,274,944
Total commercial	39,046,567		37,672,102
Consumer:
Residential mortgage:
Single-family residential	14,820,911		14,175,446
Home equity lines of credit (“HELOCs”)	1,852,408		1,811,628
Total residential mortgage	16,673,319		15,987,074
Other consumer	46,886		67,461
Total consumer	16,720,205		16,054,535
Total loans held-for-investment (1)	$	55,766,772	$	53,726,637
ALLL	(790,520)		(702,052)
Loans held-for-investment, net (1)	$	54,976,252	$	53,024,585

Accrued interest receivable on loans held-for-investment was $252 million and $255 million as of September 30, 2025 and December 31, 2024, respectively, and was included in Other assets on the Consolidated Balance Sheet. The interest income recognized on nonaccrual loans was $6 million for each of the three and nine months ended September 30, 2025, compared with immaterial amounts for the corresponding prior year periods. The interest income reversed was insignificant for each of the three and nine months ended September 30, 2025 and 2024. For the Company’s accounting policy on accrued interest receivable related to loans held-for-investment, see Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Loans Held-for-Investment to the Consolidated Financial Statements of the Company’s 2024 Form 10-K. The Company may occasionally have loans held-for-sale. For the Company’s accounting policy on loans held-for-sale, refer to Note 1 — Summary of Significant Accounting Policies — Significant Accounting Policies — Loans Held-for-Sale to the Consolidated Financial Statements in the Company’s 2024 Form 10-K.

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 nine months ended September 30, 2025, and the 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.


	September 30, 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	$	2,193,263	$	2,086,065	$	994,625	$	621,800	$	475,653	$	391,866	$	10,760,575	$	33,095	$	17,556,942
Criticized (accrual)	5,157		40,604		8,483		86,222		88,050		6,870		139,136		—		374,522
Criticized (nonaccrual)	2,988		4,836		37,506		5,310		9,442		6,762		3,221		—		70,065


Total C&I	2,201,408		2,131,505		1,040,614		713,332		573,145		405,498		10,902,932		33,095		18,001,529
Gross write-offs (2)	—		1,062		2,282		3,153		—		2,935		21,560		—		30,992
CRE:
Pass	1,812,679		1,588,160		2,099,019		3,334,362		1,794,639		3,812,676		101,393		47,821		14,590,749
Criticized (accrual)	28,560		16,357		110,291		167,451		51,519		245,672		—		—		619,850
Criticized (nonaccrual)	4,018		—		—		—		12,330		4,220		—		—		20,568


Subtotal CRE	1,845,257		1,604,517		2,209,310		3,501,813		1,858,488		4,062,568		101,393		47,821		15,231,167
Gross write-offs	8,232		—		—		—		19		13,997		—		—		22,248
Multifamily residential:
Pass	649,041		338,488		491,954		1,153,159		701,661		1,654,631		28,983		3,835		5,021,752
Criticized (accrual)	—		—		—		6,437		—		8,788		—		—		15,225
Criticized (nonaccrual)	—		—		—		—		—		307		—		—		307


Subtotal multifamily residential	649,041		338,488		491,954		1,159,596		701,661		1,663,726		28,983		3,835		5,037,284
Gross write-offs	—		—		—		—		—		7		—		—		7
Construction and land:
Pass	161,292		97,043		301,142		187,376		13,488		3,446		3,903		—		767,690

Criticized (nonaccrual)	—		8,897		—		—		—		—		—		—		8,897
Subtotal construction and land	161,292		105,940		301,142		187,376		13,488		3,446		3,903		—		776,587


Total CRE	2,655,590		2,048,945		3,002,406		4,848,785		2,573,637		5,729,740		134,279		51,656		21,045,038

Total CRE gross write-offs (2)	8,232		—		—		—		19		14,004		—		—		22,255
Total commercial	$	4,856,998	$	4,180,450	$	4,043,020	$	5,562,117	$	3,146,782	$	6,135,238	$	11,037,211	$	84,751	$	39,046,567
Total commercial gross write-offs (2)	$	8,232	$	1,062	$	2,282	$	3,153	$	19	$	16,939	$	21,560	$	—	$	53,247


	September 30, 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)	$	2,172,946	$	1,972,523	$	2,454,248	$	2,877,983	$	1,919,814	$	3,370,130	$	—	$	—	$	14,767,644
Criticized (accrual)	3,715		1,900		2,351		2,455		—		10,001		—		—		20,422
Criticized (nonaccrual) (3)	864		5,251		6,981		4,856		3,264		11,629		—		—		32,845
Subtotal single-family residential mortgage	2,177,525		1,979,674		2,463,580		2,885,294		1,923,078		3,391,760		—		—		14,820,911
Gross write-offs	—		9		—		—		—		—		—		—		9
HELOCs:
Pass	9,156		2,694		5,252		14,392		11,629		16,314		1,686,647		77,784		1,823,868
Criticized (accrual)	13		748		11		751		—		1,431		2,026		208		5,188
Criticized (nonaccrual)	578		3,077		1,972		1,229		—		12,577		—		3,919		23,352
Subtotal HELOCs	9,747		6,519		7,235		16,372		11,629		30,322		1,688,673		81,911		1,852,408

Total residential mortgage	2,187,272		1,986,193		2,470,815		2,901,666		1,934,707		3,422,082		1,688,673		81,911		16,673,319
Total residential mortgage gross write-offs	—		9		—		—		—		—		—		—		9
Other consumer:
Pass	25,626		34		—		4,618		130		5,575		10,825		—		46,808
Criticized (accrual)	5		—		—		—		—		—		—		—		5
Criticized (nonaccrual)	5		—		49		—		—		—		19		—		73
Total other consumer	25,636		34		49		4,618		130		5,575		10,844		—		46,886

Total consumer	$	2,212,908	$	1,986,227	$	2,470,864	$	2,906,284	$	1,934,837	$	3,427,657	$	1,699,517	$	81,911	$	16,720,205
Total consumer gross write-offs (2)	$	—	$	9	$	—	$	—	$	—	$	—	$	—	$	—	$	9
Total loans held-for-investment:
Pass	$	7,024,003	$	6,085,007	$	6,346,240	$	8,193,690	$	4,917,014	$	9,254,638	$	12,592,326	$	162,535	$	54,575,453
Criticized (accrual)	37,450		59,609		121,136		263,316		139,569		272,762		141,162		208		1,035,212
Criticized (nonaccrual)	8,453		22,061		46,508		11,395		25,036		35,495		3,240		3,919		156,107
Total	$	7,069,906	$	6,166,677	$	6,513,884	$	8,468,401	$	5,081,619	$	9,562,895	$	12,736,728	$	166,662	$	55,766,772
Total loans held-for-investment gross write-offs (2)	$	8,232	$	1,071	$	2,282	$	3,153	$	19	$	16,939	$	21,560	$	—	$	53,256


	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														Revolving Loans Converted to Term Loans (1)
($ in thousands)	2024		2023		2022		2021		2020		Prior		Revolving Loans				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)No revolving commercial loans were converted to term loans during each of the three months ended September 30, 2025 and 2024. $16 million of total commercial loans, comprised of C&I revolving loans, and $8 million of total commercial loans, comprised of C&I and CRE revolving loans, were converted to term loans during the nine months ended September 30, 2025 and 2024, respectively. $1 million of total consumer loans, comprised of HELOCs, were converted to term loans during the three and nine months ended September 30, 2025. In comparison, $2 million and $26 million of total consumer loans, comprised of HELOCs, were converted to term loans during the three and nine months ended September 30, 2024, respectively.

Loans that are 90 or more days past due are generally placed on nonaccrual status unless the loan is well-collateralized and in the process of collection. Loans that are less than 90 days past due but have identified deficiencies, such as when the full collection of principal or interest becomes uncertain, are also placed on nonaccrual status. The following tables present the aging analysis of loans held-for-investment as of September 30, 2025 and December 31, 2024:



	September 30, 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	$	17,920,668	$	3,949	$	6,847	$	10,796	$	70,065	$	18,001,529
CRE:
CRE	15,161,590		33,489		15,520		49,009		20,568		15,231,167
Multifamily residential	5,036,135		294		548		842		307		5,037,284
Construction and land	767,690		—		—		—		8,897		776,587
Total CRE	20,965,415		33,783		16,068		49,851		29,772		21,045,038
Total commercial	38,886,083		37,732		22,915		60,647		99,837		39,046,567
Consumer:
Residential mortgage:
Single-family residential	14,729,285		37,066		20,888		57,954		33,672		14,820,911
HELOCs	1,808,419		14,465		6,172		20,637		23,352		1,852,408
Total residential mortgage	16,537,704		51,531		27,060		78,591		57,024		16,673,319
Other consumer	46,718		36		59		95		73		46,886
Total consumer	16,584,422		51,567		27,119		78,686		57,097		16,720,205
Total	$	55,470,505	$	89,299	$	50,034	$	139,333	$	156,934	$	55,766,772



	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

Foreclosed assets, consisting of OREO and other nonperforming assets, are included in Other assets on the Consolidated Balance Sheet. The Company had $24 million of foreclosed assets as of September 30, 2025, compared with $35 million as of December 31, 2024. The Company commences the foreclosure process on consumer mortgage loans after a borrower becomes more than 120 days delinquent in accordance with the Consumer Financial Protection Bureau guidelines. The carrying value of the consumer real estate loans that were in an active or suspended foreclosure process was $21 million and $16 million as of September 30, 2025 and December 31, 2024, respectively.

As part of the Company’s loss mitigation efforts, the Company may agree to modify the contractual terms of a loan to assist borrowers experiencing financial difficulty. The Company negotiates loan modifications on a case-by-case basis to achieve mutually agreeable terms that maximize loan collectability and meet the borrower’s financial needs. The Company considers various factors to identify borrowers experiencing financial difficulty. The primary factor for consumer loan borrowers is delinquency status. For commercial loan borrowers, these factors include credit risk ratings, the probability of loan risk rating downgrades, and overall risk profile changes. The modification may include, but is not limited to, payment delays, interest rate reductions, term extensions, principal forgiveness, or a combination of such modifications. Commercial loan borrowers that require immaterial modifications such as insignificant interest rate changes, short-term extensions (90 days or less) from the original maturity date, or temporary waivers or extensions of financial covenants which would not constitute material credit actions, are generally not considered to be experiencing financial difficulty and are not included in the disclosure. Insignificant payment deferrals (three months or less in the last 12 months) are also not included in the disclosure.



	Three Months Ended September 30, 2025
	Modification Type
					Combination:
($ in thousands)	Term Extension		Payment Delay		Term Extension/ Payment Delay		Rate Reduction/ Term Extension		Rate Reduction/ Payment Delay		Total		Modification as a % of Loan Class
Commercial:
C&I	$	27,141	$	49,915	$	—	$	94	$	—	$	77,150	0.43	%




CRE	65,118		—		—		—		—		65,118		0.43	%
Total commercial	92,259		49,915		—		94		—		142,268		0.36	%
Consumer:

Single-family residential	—		14,351		1,632		—		—		15,983		0.11	%
HELOCs	—		4,294		286		—		747		5,327		0.29	%




Total consumer	—		18,645		1,918		—		747		21,310		0.13	%
Total	$	92,259	$	68,560	$	1,918	$	94	$	747	$	163,578	0.29	%



	Three Months Ended September 30, 2024
	Modification Type
					Combination:
($ in thousands)	Term Extension		Payment Delay		Term Extension/ Payment Delay		Rate Reduction/ Payment Delay		Total		Modification as a % of Loan Class
Commercial:
C&I	$	15,848	$	—	$	—	$	—	$	15,848	0.09	%

CRE	23,735		—		—		—		23,735		0.16	%



Total commercial	39,583		—		—		—		39,583		0.11	%
Consumer:

Single-family residential	—		4,718		219		141		5,078		0.04	%
HELOCs	—		3,763		—		—		3,763		0.21	%




Total consumer	—		8,481		219		141		8,841		0.06	%
Total	$	39,583	$	8,481	$	219	$	141	$	48,424	0.09	%



	Nine Months Ended September 30, 2025
	Modification Type
							Combination:
($ in thousands)	Interest Rate Reduction		Term Extension		Payment Delay		Rate Reduction/ Term Extension		Term Extension/ Payment Delay		Rate Reduction/ Payment Delay		Rate Reduction/ Term Extension/ Payment Delay		Total		Modification as a % of Loan Class
Commercial:
C&I	$	6,057	$	76,716	$	52,889	$	94	$	31,957	$	19,576	$	—	$	187,289	1.04	%

CRE	—		188,145		—		—		—		—		—		188,145		1.24	%
Multifamily	—		276		—		—		—		—		—		276		0.01	%
Land and construction	—		16,782		—		—		—		—		—		16,782		2.16	%

Total commercial	6,057		281,919		52,889		94		31,957		19,576		—		392,492		1.01	%
Consumer:

Single-family residential	—		—		23,226		—		1,928		—		—		25,154		0.17	%
HELOCs	—		—		9,210		—		917		1,173		414		11,714		0.63	%




Total consumer	—		—		32,436		—		2,845		1,173		414		36,868		0.22	%
Total	$	6,057	$	281,919	$	85,325	$	94	$	34,802	$	20,749	$	414	$	429,360	0.77	%



	Nine Months Ended September 30, 2024
	Modification Type
					Combination:
($ in thousands)	Term Extension		Payment Delay		Term Extension/ Payment Delay		Rate Reduction/ Payment Delay		Total		Modification as a % of Loan Class
Commercial:
C&I	$	26,191	$	24,768	$	—	$	—	$	50,959	0.30	%

CRE	47,969		—		—		—		47,969		0.33	%



Total commercial	74,160		24,768		—		—		98,928		0.26	%
Consumer:

Single-family residential	—		13,278		219		141		13,638		0.10	%
HELOCs	—		10,708		—		517		11,225		0.64	%


Other consumer	3,000		—		—		—		3,000		5.18	%

Total consumer	3,000		23,986		219		658		27,863		0.18	%
Total	$	77,160	$	48,754	$	219	$	658	$	126,791	0.24	%



	Financial Effects of Loan Modifications for the Three Months Ended September 30,
	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	1.00	%	1.3	0.7	—	%	0.8	0.0

CRE	—	%	1.3	0.0	—	%	3.3	0.0




Consumer:
Residential mortgage:
Single-family residential	—	%	17.5	4.6	1.63	%	10.0	2.6
HELOCs	1.50	%	20.0	6.6	—	%	0.0	0.6



	Financial Effects of Loan Modifications for the Nine Months Ended September 30,
	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	3.37	%	1.1	0.8	—	%	1.6	1.6

CRE	—	%	3.0	0.0	—	%	2.4	0.0
Multifamily	—	%	10.0	0.0	—	%	0.0	0.0
Land and construction	—	%	0.8	0.0	—	%	0.0	0.0


Consumer:

Single-family residential	—	%	16.3	3.6	1.63	%	10.0	1.4
HELOCs	0.97	%	15.3	6.8	0.25	%	0.0	2.0


Other consumer	—	%	0.0	0.0	—	%	0.8	0.0





	Loans Modified Subsequently Defaulted During the Three Months Ended September 30, 2025
($ in thousands)	Term Extension		Payment Delay		Combination: Rate Reduction/ Payment Delay		Combination: Term Extension/ Payment Delay		Total
Commercial:
C&I	$	890	$	3,089	$	—	$	—	$	3,979





Total commercial	890		3,089		—		—		3,979
Consumer:

Single-family residential	—		1,064		—		819		1,883
HELOCs	—		418		747		202		1,367




Total consumer	—		1,482		747		1,021		3,250
Total	$	890	$	4,571	$	747	$	1,021	$	7,229



	Loans Modified Subsequently Defaulted During the Nine Months Ended September 30, 2025
($ in thousands)	Term Extension		Payment Delay		Combination: Rate Reduction/ Payment Delay		Combination: Term Extension/ Payment Delay		Total
Commercial:
C&I	$	890	$	7,554	$	—	$	—	$	8,444

CRE	53,277		—		—		—		53,277



Total commercial	54,167		7,554		—		—		61,721
Consumer:

Single-family residential	—		2,515		—		1,026		3,541
HELOCs	—		4,675		747		488		5,910




Total consumer	—		7,190		747		1,514		9,451
Total	$	54,167	$	14,744	$	747	$	1,514	$	71,172



	Loans Modified Subsequently Defaulted During the Nine Months Ended September 30, 2024
($ in thousands)	Term Extension		Payment Delay		Combination: Rate Reduction/ Payment Delay		Combination: Term Extension/ Payment Delay		Total
Commercial:
C&I	$	7,829	$	5,280	$	—	$	—	$	13,109





Total commercial	7,829		5,280		—		—		13,109
Consumer:

Single-family residential	—		7,995		141		2,828		10,964
HELOCs	—		3,240		1,149		—		4,389




Total consumer	—		11,235		1,290		2,828		15,353
Total	$	7,829	$	16,515	$	1,290	$	2,828	$	28,462



	Payment Performance as of September 30, 2025
($ in thousands)		Current		30 - 89 Days Past Due		90+ Days Past Due		Total
Commercial:
C&I		$	217,395	$	94	$	890	$	218,379

CRE		210,658		—		—		210,658
Multifamily residential		276		—		—		276
Construction and land		16,782		—		—		16,782

Total commercial		445,111		94		890		446,095
Consumer:

Single-family residential		22,866		2,201		1,738		26,805
HELOCs		9,533		1,594		1,842		12,969


Total consumer		32,399		3,795		3,580		39,774
Total		$	477,510	$	3,889	$	4,470	$	485,869



	Payment Performance as of September 30, 2024
($ in thousands)		Current		30 - 89 Days Past Due		90+ Days Past Due		Total
Commercial:
C&I		$	62,107	$	8,848	$	7,828	$	78,783

CRE		47,969		—		—		47,969



Total commercial		110,076		8,848		7,828		126,752
Consumer:

Single-family residential		9,610		3,237		6,686		19,533
HELOCs		8,922		3,736		1,270		13,928

Other consumer		—		3,000		—		3,000
Total consumer		18,532		9,973		7,956		36,461
Total		$	128,608	$	18,821	$	15,784	$	163,213

The Company has a current expected credit losses framework for all financial assets measured at amortized cost and certain off-balance sheet credit exposures. The Company’s allowance for credit losses, which includes both the ALLL and the allowance for unfunded credit commitments, is calculated with the objective of maintaining a reserve sufficient to absorb losses inherent in our credit portfolios. The measurement of the allowance for credit losses is based on management’s best estimate of lifetime expected credit losses, periodic evaluation of the loan portfolio, lending-related commitments and other relevant factors.

The allowance for credit losses is deducted from the amortized cost basis of a financial asset or a group of financial assets so that the balance sheet reflects the net amount the Company expects to collect. Amortized cost is the principal balance outstanding, net of purchase premiums and discounts, deferred fees and costs, and escrow advances. Subsequent changes in expected credit losses are recognized in net income as a provision for, or a reversal of, credit loss expense.

The allowance for credit losses estimation involves procedures to consider the unique risk characteristics of the portfolio segments. The majority of the Company’s credit exposures that share risk characteristics with other similar exposures are collectively evaluated. The collectively evaluated loans include performing loans and unfunded credit commitments. If an exposure does not share risk characteristics with other exposures, the Company generally estimates expected credit losses on an individual basis.

Quantitative Component — The Company applies quantitative methods to estimate ALLL by considering a variety of factors such as historical loss experience, the current credit quality of the portfolio, and an economic outlook over the life of the loan. The Company incorporates forward-looking information using macroeconomic scenarios which include variables that are considered key drivers of increases and decreases in credit losses. The Company utilizes a probability-weighted, multiple-scenario forecast approach. These scenarios may consist of a base forecast representing management's view of the most likely outcome, combined with downside or upside scenarios reflecting possible worsening or improving economic conditions. The quantitative models incorporate a probability-weighted calculation of these macroeconomic scenarios over a reasonable and supportable forecast period. If the life of the loans extends beyond the reasonable and supportable forecast period, the Company will consider historical experience or long-run macroeconomic trends over the remaining life of the loans to estimate the ALLL.

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.

The Company’s C&I lifetime loss rate model estimates the loss rate expected over the life of a loan. This loss rate is applied to the amortized cost basis, excluding accrued interest receivable, to determine expected credit losses. The lifetime loss rate model’s reasonable and supportable period spans eight quarters, thereafter, immediately reverting to the historical average loss rate, expressed through the loan-level lifetime loss rate.

To generate estimates of expected loss at the loan level for CRE, multifamily residential, and construction and land loans, projected probabilities of default (“PDs”) and loss given defaults (“LGDs”) are applied to the estimated exposure at default, considering the term and payment structure of the loan. The forecast of future economic conditions returns to long-run historical economic trends within the reasonable and supportable period. To estimate the life of a loan under both models, the contractual term of the loan is adjusted for estimated prepayments based on historical prepayment experience.

For single-family residential and HELOC loans, projected PDs and LGDs are applied to the estimated exposure at default, considering the term and payment structure of the loan, to generate estimates of expected loss at the loan level. The forecast of future economic conditions returns to long-run historical economic trends after the reasonable and supportable period. To estimate the life of a loan for the single-family residential and HELOC loan portfolios, the contractual term of the loan is adjusted for estimated prepayments based on historical prepayment experience. For other consumer loans, the Company uses a loss rate approach.

The magnitude of the impact of these factors on the Company’s qualitative assessment of the allowance for credit losses changes from period to period according to changes made by management in its assessment of these factors. The extent to which these factors change may be dependent on whether they are already reflected in quantitative loss estimates during the current period and the extent to which changes in these factors diverge from period to period.

While the Company’s allowance methodologies strive to reflect all relevant credit risk factors, there continues to be uncertainty associated with, but not limited to, potential imprecision in the estimation process due to the inherent time lag of obtaining information and normal variations between expected and actual outcomes. The Company may hold additional qualitative reserves that are designed to provide coverage for losses attributable to such risk.

When a loan no longer shares similar risk characteristics with other loans, such as in the case of certain nonaccrual loans, the Company estimates the ALLL on an individual loan basis. The ALLL for individually evaluated loans is measured as the difference between the recorded value of the loans and their fair value. For loans evaluated individually, the Company uses one of three different asset valuation measurement methods: (1) the fair value of collateral less costs to sell; (2) the present value of expected future cash flows; or (3) the loan's observable market price. If an individually evaluated loan is determined to be collateral dependent, the Company applies the fair value of the collateral less costs to sell method. If an individually evaluated loan is determined not to be collateral dependent, the Company uses the present value of future cash flows or the observable market value of the loan.

•Collateral-Dependent Loans — The allowance of a collateral-dependent loan is limited to the difference between the recorded value and fair value of the collateral less cost of disposal or sale. As of September 30, 2025, collateral-dependent commercial and consumer loans totaled $39 million and $14 million, respectively. In comparison, collateral-dependent commercial and consumer loans totaled $45 million and $23 million, respectively, as of December 31, 2024. The Company's collateral-dependent loans were secured by real estate. As of both September 30, 2025 and December 31, 2024, the collateral value of the properties securing the collateral-dependent loans, net of selling costs, exceeded the recorded value of the majority of the loans.



		Three Months Ended September 30, 2025
		Commercial								Consumer
				CRE						Residential Mortgage
($ in thousands)		C&I		CRE		Multifamily Residential		Construction and Land		Single-Family Residential		HELOCs		Other Consumer		Total
ALLL, beginning of period		$	442,291	$	212,618	$	29,073	$	17,856	$	51,997	$	5,256	$	1,325	$	760,416
Allowance recognized on purchased credit-deteriorated (“PCD”) loans		18,175		—		—		—		—		—		—		18,175
(Reversal of) provision for credit losses on loans	(a)	(992)		14,552		6,101		671		8,873		854		(143)		29,916
Gross charge-offs		(25,325)		(5)		—		—		—		—		(73)		(25,403)
Gross recoveries		7,236		2		13		3		6		3		—		7,263
Total net (charge-offs) recoveries		(18,089)		(3)		13		3		6		3		(73)		(18,140)
Foreign currency translation adjustment		153		—		—		—		—		—		—		153
ALLL, end of period		$	441,538	$	227,167	$	35,187	$	18,530	$	60,876	$	6,113	$	1,109	$	790,520



		Three Months Ended September 30, 2024
		Commercial								Consumer
				CRE						Residential Mortgage
($ in thousands)		C&I		CRE		Multifamily Residential		Construction and Land		Single-Family Residential		HELOCs		Other Consumer		Total


ALLL, beginning of period		$	379,984	$	194,794	$	40,254	$	14,322	$	49,523	$	3,340	$	1,577	$	683,794
Provision for (reversal of) credit losses on loans	(a)	26,416		27,123		(8,493)		(1,975)		(1,293)		(128)		67		41,717
Gross charge-offs		(29,260)		(734)		—		(145)		—		(10)		(149)		(30,298)
Gross recoveries		838		61		21		6		1		8		—		935
Total net (charge-offs) recoveries		(28,422)		(673)		21		(139)		1		(2)		(149)		(29,363)
Foreign currency translation adjustment		337		—		—		—		—		—		—		337
ALLL, end of period		$	378,315	$	221,244	$	31,782	$	12,208	$	48,231	$	3,210	$	1,495	$	696,485



		Nine Months Ended September 30, 2025
		Commercial								Consumer
				CRE						Residential Mortgage
($ in thousands)		C&I		CRE		Multifamily Residential		Construction and Land		Single-Family Residential		HELOCs		Other Consumer		Total
ALLL, beginning of period		$	384,319	$	218,677	$	32,117	$	17,497	$	44,816	$	3,132	$	1,494	$	702,052
Allowance recognized on PCD loans		18,175		—		—		—		—		—		—		18,175
Provision for (reversal of) credit losses on loans	(a)	62,973		30,664		3,028		3,020		16,009		2,962		(522)		118,134
Gross charge-offs		(34,464)		(22,248)		(7)		(1,996)		(9)		—		(126)		(58,850)
Gross recoveries		10,304		74		49		9		60		19		263		10,778
Total net (charge-offs) recoveries		(24,160)		(22,174)		42		(1,987)		51		19		137		(48,072)
Foreign currency translation adjustment		231		—		—		—		—		—		—		231
ALLL, end of period		$	441,538	$	227,167	$	35,187	$	18,530	$	60,876	$	6,113	$	1,109	$	790,520



		Nine Months Ended September 30, 2024
		Commercial								Consumer
				CRE						Residential Mortgage
($ in thousands)		C&I		CRE		Multifamily Residential		Construction and Land		Single-Family Residential		HELOCs		Other Consumer		Total


ALLL, 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)	44,473		64,542		(2,833)		3,828		(6,760)		(792)		175		102,633
Gross charge-offs		(63,392)		(14,235)		(6)		(2,289)		(35)		(10)		(337)		(80,304)
Gross recoveries		4,365		345		246		200		8		65		—		5,229
Total net (charge-offs) recoveries		(59,027)		(13,890)		240		(2,089)		(27)		55		(337)		(75,075)
Foreign currency translation adjustment		184		—		—		—		—		—		—		184
ALLL, end of period		$	378,315	$	221,244	$	31,782	$	12,208	$	48,231	$	3,210	$	1,495	$	696,485

In addition to the ALLL, the Company maintains an allowance for unfunded credit commitments. The Company has three general areas for which it provides the allowance for unfunded credit commitments: (1) recourse obligations for loans sold, (2) letters of credit, and (3) unfunded lending commitments. The allowance for unfunded credit commitments is maintained at a level that management believes to be sufficient to absorb estimated expected credit losses related to unfunded credit facilities. See Note 10 — Commitments and Contingencies to the Consolidated Financial Statements in this Form 10-Q for additional information related to unfunded credit commitments. The following table summarizes the activity in the allowance for unfunded credit commitments for the three and nine months ended September 30, 2025 and 2024:



		Three Months Ended September 30,				Nine Months Ended September 30,
($ in thousands)		2025		2024		2025		2024
Unfunded credit facilities
Allowance for unfunded credit commitments, beginning of period		$	45,307	$	38,783	$	39,526	$	37,698

Provision for credit losses on unfunded credit commitments	(b)	3,084		283		8,866		1,367
Foreign currency translation adjustment		(1)		(4)		(2)		(3)
Allowance for unfunded credit commitments, end of period		$	48,390	$	39,062	$	48,390	$	39,062

Provision for credit losses on loans, leases and unfunded credit commitments	(a) + (b)	$	33,000	$	42,000	$	127,000	$	104,000

The allowance for credit losses was $839 million as of September 30, 2025, an increase of $97 million, compared with $742 million as of December 31, 2024. The increase in the allowance for credit losses was primarily driven by the Company’s net loan and commitment growth, qualitative risk assessment, and an economic outlook that reflected continued caution regarding inflation, the high-interest rate environment and potential impacts from the escalating tariff and global trade tensions.

The Company considers multiple economic scenarios to develop the estimate of the ALLL. The scenarios may consist of a baseline forecast representing management's view of the most likely outcome, and downside or upside scenarios that reflect possible worsening or improving economic conditions. As of September 30, 2025, the Company assigned a slightly lower weighting to its upside scenario, while applying a slightly higher weighting to the downside scenario, with baseline remaining the same as compared with December 31, 2024. The current baseline economic forecast continues to reflect key risks such as still-elevated interest rates, inflation exacerbated by higher tariffs, and slowing job growth. Compared with December 2024, the September 2025 baseline forecast for GDP growth is projected to be weaker in the near-term for the remainder of 2025 and into 2026. Similarly, the near- and mid-term unemployment rates have increased in the September 2025 forecast reflecting the uncertainty which businesses and households are facing. The downside scenario assumed the economy falls into recession in the fourth quarter of 2025 as a result of tariffs, deportations, rising inflation, elevated interest rates, global and domestic political tensions, and reduced credit availability. The upside scenario assumed a more optimistic economic outlook, including stronger growth, stable financial markets, unemployment declining below baseline starting in the fourth quarter of 2025, and diminished global political and economic tension.

The Company’s primary business focus is on directly originated loans. The Company also purchases loans from and participates in loan financing with other banks. In the normal course of business, the Company also provides other financial institutions with the ability to participate in commercial loans that it originates, by selling loans to such institutions. Purchased loans may be transferred from held-for-investment to held-for-sale, and write-downs to ALLL are recorded, when appropriate. The following tables provide information on the carrying value of loans transferred, sold and purchased, during the three and nine months ended September 30, 2025 and 2024: