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Loans
 12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Loans Loans
a) Loans held for investment
Loans held for investment consist of the following loan classes:
(in thousands)December 31,
2021		December 31,
2020
Real estate loans
Commercial real estate
Nonowner occupied$1,540,590 $1,749,839 
Multi-family residential514,679 737,696 
Land development and construction loans327,246 349,800 
2,382,515 2,837,335 
Single-family residential661,339 639,569 
Owner occupied962,538 947,127 
4,006,392 4,424,031 
Commercial loans965,673 1,154,550 
Loans to financial institutions and acceptances13,710 16,636 
Consumer loans and overdrafts423,665 247,120 
Total loans held for investment, gross$5,409,440 $5,842,337 
At December 31, 2021 and 2020, loans with an outstanding principal balance of $1,133 million and $1,438 million, respectively, were pledged as collateral to secure advances from the FHLB.
The amounts in the table above include loans under syndication facilities for approximately $373 million and $455 million at December 31, 2021 and 2020, respectively, which include Shared National Credit facilities, or SNCs, and agreements to enter into credit agreements among other lenders (club deals), and other agreements. These loans are primarily designed for providing working capital to certain qualified domestic and international commercial entities meeting our credit quality criteria and concentration limits, and approved in accordance with credit policies. In addition, consumer loans and overdrafts in the table above include indirect consumer loans purchased totaling $297.0 million and $170.9 million at December 31, 2021 and 2020, respectively.

International loans included above were $99.6 million and $152.9 million at December 31, 2021 and 2020, respectively.
While seeking diversification of our loan portfolio, the Company is dependent mostly on the economic conditions that affect South Florida and the greater Houston and New York City areas, especially the five New York City boroughs. Diversification is managed through policies with limitations for exposure to individual or related debtors and for country risk exposure.
The age analysis of the loan portfolio by class, including nonaccrual loans, as of December 31, 2021 and 2020 are summarized in the following tables:
December 31, 2021
Total Loans,
Net of
Unearned
Income		Past DueTotal Loans in
Nonaccrual
Status		Total Loans
90 Days or More
Past Due
and Accruing
(in thousands)Current30-59
Days		60-89
Days		Greater than
90 Days		Total Past
Due
Real estate loans
Commercial real estate
Nonowner occupied$1,540,590 $1,540,590 $— $— $— $— $7,285 $— 
Multi-family residential514,679 514,679 — — — — — — 
Land development and construction loans327,246 327,246 — — — — — — 
2,382,515 2,382,515 — — — — 7,285 — 
Single-family residential661,339 657,882 990 412 2,055 3,457 5,126 — 
Owner occupied962,538 961,132 — — 1,406 1,406 8,665 — 
4,006,392 4,001,529 990 412 3,461 4,863 21,076 — 
Commercial loans965,673 939,685 277 1,042 24,669 25,988 28,440 — 
Loans to financial institutions and acceptances13,710 13,710 — — — — — — 
Consumer loans and overdrafts423,665 423,624 22 7 12 41 257 8 
$5,409,440 $5,378,548 $1,289 $1,461 $28,142 $30,892 $49,773 $8 

December 31, 2020
Total Loans,
Net of
Unearned
Income		Past DueTotal Loans in
Nonaccrual
Status		Total Loans
90 Days or More
Past Due
and Accruing
(in thousands)Current30-59
Days		60-89
Days		Greater than
90 Days		Total Past
Due
Real estate loans
Commercial real estate
Nonowner occupied$1,749,839 $1,741,862 $1,487 $— $6,490 $7,977 $8,219 $— 
Multi-family residential737,696 737,696 — — — — 11,340 — 
Land development and construction loans349,800 349,800 — — — — — — 
2,837,335 2,829,358 1,487 — 6,490 7,977 19,559 — 
Single-family residential639,569 631,801 3,143 671 3,954 7,768 10,667 — 
Owner occupied947,127 941,566 439 — 5,122 5,561 12,815 220 
4,424,031 4,402,725 5,069 671 15,566 21,306 43,041 220 
Commercial loans1,154,550 1,113,469 3,675 1,715 35,691 41,081 44,205 — 
Loans to financial institutions and acceptances16,636 16,636 — — — — — — 
Consumer loans and overdrafts247,120 246,997 85 6 32 123 233 1 
$5,842,337 $5,779,827 $8,829 $2,392 $51,289 $62,510 $87,479 $221 
In January 2022, the Company collected a partial payment of around $9.8 million on one commercial nonaccrual loan of $12.4 million. Also, in January 2022, the Company charged-off the remaining balance of this loan of $2.5 million against its specific reserve at December 31, 2021.
b) Loans held for sale
Loans held for sale consist of the following loan classes:
(in thousands)December 31,
2021		December 31,
2020
Real estate loans
Commercial real estate
Non-owner occupied$110,271 $— 
Multi-family residential31,606 — 
141,877 — 
Single-family residential (1)14,905 — 
Owner occupied1,318 — 
   Total loans held for sale (2)(3)$158,100 $— 
__________________
(1)Mortgage loans held for sale carried at fair value..
(2)Remained current and in accrual status as of December 31, 2021.
(3)Includes $143.2 million in loans carried at the lower of cost or fair value and $14.9 million in mortgage loans carried at fair value.

Net proceeds from sales of loans held for sale totaled $70.0 million in the year ended December 31, 2021, including $49.1 million in loans held for sale carried at the lower or cost or estimated fair value related to the New York loan portfolio, and $20.8 million in mortgage loans held for sale carried at fair value.

In February 2022, The Company completed the sale of approximately $57.3 million in loans held for sale related to the New York portfolio, at their par value.


c) Concentration of risk
While seeking diversification of our loan portfolio held for investment and held for sale, the Company is dependent mostly on the economic conditions that affect South Florida and the greater Houston and New York City areas, especially the five New York City boroughs. Diversification is managed through policies with limitations for exposure to individual or related debtors and for country risk exposure.