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Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments (Tables)
 12 Months Ended
Dec. 31, 2020
Receivables [Abstract]  
Composition of Loans at Amortized Cost Basis Broken Out by Risk-Based Segment
The composition of loans at amortized cost basis broken out by risk-based segment at December 31, 2020 and 2019, respectively, is presented in the following table:
December 31,
(Dollars in thousands)20202019
Global fund banking$25,543,198 $17,696,794 
Investor dependent:
Early stage1,485,866 1,624,221 
Mid stage1,564,870 1,047,398 
Later stage1,921,082 1,663,576 
Total investor dependent4,971,818 4,335,195 
Cash flow dependent:
Sponsor led buyout1,989,173 2,185,497 
Other2,945,360 2,238,741 
Total cash flow dependent4,934,533 4,424,238 
Private bank (1) (5)4,901,056 3,492,269 
Balance sheet dependent2,191,023 1,286,153 
Premium wine (1) (5)1,052,643 1,062,264 
Other (1) (5)27,687 867,723 
SBA loans1,559,530 — 
Total loans (2) (3) (4)$45,181,488 $33,164,636 
Allowance for credit losses(447,765)(304,924)
Net loans$44,733,723 $32,859,712 
(1)As of December 31, 2020, as a result of enhanced portfolio characteristic definitions for our risk-based segments, loans in the amount of $427 million and $53 million that would have been reported in Other under historical definitions, are now being reported in our Private Bank and Premium Wine risk-based segments, respectively.
(2)Total loans at amortized cost is net of unearned income of $226 million and $163 million at December 31, 2020 and 2019, respectively.
(3)Included within our total loan portfolio are credit card loans of $400 million and $395 million at December 31, 2020 and 2019, respectively.
(4)Included within our total loan portfolio are construction loans of $118 million and $183 million at December 31, 2020 and 2019, respectively.
(5)Of our total loans, the table below includes those secured by real estate at amortized cost at December 31, 2020 and 2019 and were comprised of the following:
December 31,
(Dollars in thousands)20202019
Real estate secured loans:
Private bank:
Loans for personal residence
$3,392,237 $2,829,880 
Loans to eligible employees
481,098 401,396 
Home equity lines of credit
42,449 55,461 
Other
142,895 38,880 
Total private bank loans secured by real estate
$4,058,679 $3,325,617 
Premium wine
824,008 820,730 
Other
56,882 — 
Total real estate secured loans$4,939,569 $4,146,347 
Credit Quality Indicators, Broken Out by Risk-Based Segments and Vintage Year
The following table summarizes the credit quality indicators, broken out by risk-based segment, as of December 31, 2020 and 2019:
(Dollars in thousands)PassCriticizedNonperforming (Nonaccrual)Total
December 31, 2020
Global fund banking$25,537,354 $5,833 $11 $25,543,198 
Investor dependent:
Early stage1,288,897 178,629 18,340 1,485,866 
Mid stage1,420,788 140,026 4,056 1,564,870 
Later stage1,744,662 147,763 28,657 1,921,082 
Total investor dependent4,454,347 466,418 51,053 4,971,818 
Cash flow dependent:
Sponsor led buyout1,795,972 153,205 39,996 1,989,173 
Other2,677,371 261,985 6,004 2,945,360 
Total cash flow dependent4,473,343 415,190 46,000 4,934,533 
Private bank4,862,176 32,728 6,152 4,901,056 
Balance sheet dependent2,104,645 86,378 — 2,191,023 
Premium wine910,397 141,248 998 1,052,643 
Other27,594 63 30 27,687 
SBA loans1,455,990 103,540 — 1,559,530 
Total loans (1)$43,825,846 $1,251,398 $104,244 $45,181,488 
December 31, 2019
Global fund banking$17,708,550 $4,247 $— $17,712,797 
Investor dependent
Early stage1,436,022 206,310 11,093 1,653,425 
Mid stage924,002 125,451 17,330 1,066,783 
Later stage1,490,561 201,819 6,296 1,698,676 
Total investor dependent3,850,585 533,580 34,719 4,418,884 
Cash flow dependent
Sponsor led buyout2,039,847 118,588 44,585 2,203,020 
Other2,141,766 93,400 17,681 2,252,847 
Total cash flow dependent4,181,613 211,988 62,266 4,455,867 
Private bank3,472,138 11,601 5,480 3,489,219 
Balance sheet dependent1,231,961 65,343 — 1,297,304 
Premium wine1,026,973 36,335 204 1,063,512 
Other890,059 62 — 890,121 
Total loans (1)$32,361,879 $863,156 $102,669 $33,327,704 
(1)As of December 31, 2020, loan amounts are disclosed using the amortized cost basis as a result of the adoption of CECL. Prior period loan amounts are disclosed using the gross basis in accordance with the previous methodology.
Credit Quality Indicators, Broken Out by Risk-Based Segments and Vintage Year
The following table summarizes the credit quality indicators, broken out by risk-based segments and vintage year, as of December 31, 2020:
Term Loans by Origination Year
(Dollars in thousands)20202019201820172016PriorRevolving LoansRevolving Loans Converted to Term LoansTotal
Global fund banking:
Risk rating:
Pass
$439,494 $48,297 $68,491 $22,878 $2,389 $5,999 $24,947,428 $2,378 $25,537,354 
Criticized
—————— 410 5,423 5,833 
Nonperforming
38———— — — 11 
Total global fund banking$439,497 $48,305 $68,491 $22,878 $2,389 $5,999 $24,947,838 $7,801 $25,543,198 
Investor dependent:
Early stage:
Risk rating:
Pass
$667,006 $370,189 $120,920 $32,163 $1,234 $405 $96,363 $617 $1,288,897 
Criticized
46,889 72,495 26,170 10,204 3,557 334 18,980 — 178,629 
Nonperforming
2,438 9,354 5,368 441 — — 739 — 18,340 
Total early stage$716,333 $452,038 $152,458 $42,808 $4,791 $739 $116,082 $617 $1,485,866 
Mid stage:
Risk rating:
Pass
$840,431 $301,905 $145,588 $22,834 $5,086 $1,026 $101,423 $2,495 $1,420,788 
Criticized
43,288 48,294 26,023 8,242 — 4,998 9,181 — 140,026 
Nonperforming
10 614 218 2,539 — 675 — — 4,056 
Total mid stage$883,729 $350,813 $171,829 $33,615 $5,086 $6,699 $110,604 $2,495 $1,564,870 
Later stage:
Risk rating:
Pass
$905,468 $393,584 $170,128 $37,967 $11 $8,087 $224,432 $4,985 $1,744,662 
Criticized
22,286 55,254 30,252 1,142 — 1,547 37,282 — 147,763 
Nonperforming
16,691 1,797 3,522 — — — 6,647 — 28,657 
Total later stage$944,445 $450,635 $203,902 $39,109 $11 $9,634 $268,361 $4,985 $1,921,082 
Total investor dependent$2,544,507 $1,253,486 $528,189 $115,532 $9,888 $17,072 $495,047 $8,097 $4,971,818 
Cash flow dependent:
Sponsor led buyout:
Risk rating:
Pass
$791,480 $451,561 $273,719 $166,820 $36,900 $— $75,492 $— $1,795,972 
Criticized
500 70,324 39,020 21,607 13,003 — 8,751 — 153,205 
Nonperforming
33 11,869 16,068 7,177 — — 4,849 — 39,996 
Total sponsor led buyout
$792,013 $533,754 $328,807 $195,604 $49,903 $— $89,092 $— $1,989,173 
Other
Risk rating:
Pass
$879,542 $513,242 $179,169 $133,235 $38,808 $101 $933,274 $— $2,677,371 
Criticized
19,246 67,854 33,779 4,477 — — 136,629 — 261,985 
Nonperforming
— — 4,552 — — — 1,452 — 6,004 
Total other$898,788 $581,096 $217,500 $137,712 $38,808 $101 $1,071,355 $— $2,945,360 
Total cash flow dependent$1,690,801 $1,114,850 $546,307 $333,316 $88,711 $101 $1,160,447 $— $4,934,533 
Private bank:
Risk rating:
Pass
$1,878,184 $1,152,903 $394,351 $352,857 $294,870 $405,909 $382,442 $660 $4,862,176 
Criticized
3,480 9,985 4,486 1,202 5,101 7,725 749 — 32,728 
Nonperforming
— 563 3,197 — — 1,679 713 — 6,152 
Total private bank$1,881,664 $1,163,451 $402,034 $354,059 $299,971 $415,313 $383,904 $660 $4,901,056 
Balance sheet dependent:
Risk rating:
Pass
$837,613 $190,140 $198,532 $19,213 $— $— $857,642 $1,505 $2,104,645 
Criticized
55,887 3,733 171 — — — 26,587 — 86,378 
Nonperforming
— — — — — — — — — 
Total balance sheet dependent
$893,500 $193,873 $198,703 $19,213 $— $— $884,229 $1,505 $2,191,023 
Premium wine:
Risk rating:
Pass
$126,476 $193,744 $70,783 $79,088 $114,812 $153,841 $135,461 $36,192 $910,397 
Criticized
17,882 24,286 35,737 10,300 13,559 5,766 33,718 — 141,248 
Nonperforming
— — — — 998 — — — 998 
Total Premium wine$144,358 $218,030 $106,520 $89,388 $129,369 $159,607 $169,179 $36,192 $1,052,643 
Other:
Risk rating:
Pass
$— $16,251 $10,910 $— $— $433 $— $— $27,594 
Criticized
3 — — — — — 60 — 63 
Nonperforming
— 30 — — — — — — 30 
Total other
$3 $16,281 $10,910 $— $— $433 $60 $— $27,687 
SBA loans:
Risk rating:
Pass
$1,455,990 $— $— $— $— $— $— $— $1,455,990 
Criticized
103,540 — — — — — — — 103,540 
Nonperforming
— — — — — — — — — 
Total SBA loans
$1,559,530 $— $— $— $— $— $— $— $1,559,530 
Total loans$9,153,860 $4,008,276 $1,861,154 $934,386 $530,328 $598,525 $28,040,704 $54,255 $45,181,488 
Activity Relating to Our Allowance for Credit Losses for Loans
The following tables summarize the activity relating to our allowance for credit losses for loans for 2020, 2019 and 2018 broken out by portfolio segment:
Year ended December 31, 2020Beginning Balance December 31, 2019Impact of adopting ASC 326Charge-offsRecoveriesProvision for (Reduction of) LoansForeign Currency Translation AdjustmentsEnding Balance December 31, 2020
(Dollars in thousands)
Global fund banking$107,285 $(69,888)$— $— $8,367 $(180)$45,584 
Investor dependent:
Early stage26,245 39,911 (35,305)10,821 45,825 (823)86,674 
Growth stage56,125 31,713 (53,338)14,042 79,145 (1,004)126,683 
Total investor dependent82,370 71,624 (88,643)24,863 124,970 (1,827)213,357 
Cash flow and balance sheet dependent80,820 (1,269)(11,187)2,846 53,369 (330)124,249 
Private bank21,551 12,615 (1,616)30 21,329 (280)53,629 
Premium wine and other12,898 12,382 (1,458)1,279 (20,719)4,654 9,036 
SBA loans— — — — 1,910 — 1,910 
Total allowance for credit losses$304,924 $25,464 $(102,904)$29,018 $189,226 $2,037 $447,765 
Year ended December 31, 2019Beginning Balance December 31, 2018Charge-offsRecoveriesProvision for (Reduction of) LoansForeign Currency Translation AdjustmentsEnding Balance December 31, 2019
(Dollars in thousands)
Global fund banking$93,781 $(2,047)$2,047 $13,534 $(30)$107,285 
Investor dependent:
Early stage25,885 (31,568)9,088 22,462 378 26,245 
Growth stage46,216 (53,255)4,945 58,337 (118)56,125 
Total investor dependent72,101 (84,823)14,033 80,799 260 82,370 
Cash flow and balance sheet dependent87,735 (3,118)4,683 (9,093)613 80,820 
Private Bank20,583 (1,031)255 1,865 (121)21,551 
Premium wine and other6,703 (1,584)20 7,078 681 12,898 
Total allowance for credit losses$280,903 $(92,603)$21,038 $94,183 $1,403 $304,924 
Year ended December 31, 2018:Beginning Balance December 31, 2017Charge-offsRecoveriesProvision for LoansForeign Currency Translation AdjustmentsEnding Balance December 31, 2018
(Dollars in thousands)
Global fund banking$82,468 $(112)$— $11,698 $(273)$93,781 
Investor dependent:
Early stage22,742 (32,495)6,154 29,788 (304)25,885 
Growth stage38,280 (16,727)2,873 22,332 (542)46,216 
Total investor dependent61,022 (49,222)9,027 52,120 (846)72,101 
Cash flow and balance sheet dependent87,620 (16,223)2,064 15,304 (1,030)87,735 
Private Bank16,441 (289)486 3,986 (41)20,583 
Premium wine and other7,473 (2,071)59 1,184 58 6,703 
Total allowance for credit losses$255,024 $(67,917)$11,636 $84,292 $(2,132)$280,903 
Aging of Gross Loans, Broken out by Portfolio Segment and Class of Financing Receivable
The following table summarizes the aging of our loans broken out by risk-based segments as of December 31, 2020 and 2019:
(Dollars in thousands)30 - 59
  Days Past  
Due		60 - 89
  Days Past  
Due		Equal to or Greater
Than 90
  Days Past  
Due		  Total Past  
Due		Current  Total   Loans Past Due
90 Days or
More Still
Accruing
Interest
December 31, 2020:
Global fund banking$27,606 $8 $11 $27,625 $25,515,573 $25,543,198 $— 
Investor dependent:
Early stage6,320 1,840 202 8,362 1,477,504 1,485,866 — 
Mid stage5,984 238 907 7,129 1,557,741 1,564,870 — 
Later stage5,363 — — 5,363 1,915,719 1,921,082 — 
Total investor dependent17,667 2,078 1,109 20,854 4,950,964 4,971,818 — 
Cash flow dependent:
Sponsor led buyout34 — — 34 1,989,139 1,989,173 — 
Other6,510 58 — 6,568 2,938,792 2,945,360 — 
Total cash flow dependent6,544 58 — 6,602 4,927,931 4,934,533 — 
Private bank4,292 3,990 — 8,282 4,892,774 4,901,056 — 
Balance sheet dependent987 1,089 — 2,076 2,188,947 2,191,023 — 
Premium wine3,168 — 998 4,166 1,048,477 1,052,643 — 
Other3 28 82 113 27,574 27,687 — 
SBA loans— — — — 1,559,530 1,559,530 — 
Total loans (1)$60,267 $7,251 $2,200 $69,718 $45,111,770 $45,181,488 $— 
December 31, 2019:
Global fund banking$97,739 $383 $3,150 $101,272 $17,611,525 $17,712,797 $3,150 
Investor dependent:
Early stage1,307 22,062 723 24,092 1,629,333 1,653,425 — 
Mid stage10,025 6,999 — 17,024 1,049,759 1,066,783 — 
Later stage8,113 500 10,569 19,182 1,679,494 1,698,676 — 
Total investor dependent19,445 29,561 11,292 60,298 4,358,586 4,418,884 — 
Cash flow dependent
Sponsor led buyout— — — — 2,203,020 2,203,020 — 
Other2,426 3,061 2 5,489 2,247,358 2,252,847 — 
Total cash flow dependent2,426 3,061 2 5,489 4,450,378 4,455,867 — 
Private bank6,582 2,049 1,544 10,175 3,479,044 3,489,219 365 
Balance sheet dependent2,731 — — 2,731 1,294,573 1,297,304 — 
Premium wine8,435 3,170 — 11,605 1,051,907 1,063,512 — 
Other17 — — 17 890,104 890,121 — 
Total loans (1)$137,375 $38,224 $15,988 $191,587 $33,136,117 $33,327,704 $3,515 
(1)As of December 31, 2020, loan amounts are disclosed using the amortized cost basis as a result of the adoption of CECL. Prior period loan amounts are disclosed using the gross basis in accordance with the previous methodology.
Nonaccrual Loans with No Allowance for Credit Loss
The following table summarizes our nonaccrual loans with no allowance for credit loss at December 31, 2020 and 2019:
December 31, 2020December 31, 2019
(Dollars in thousands)Nonaccrual LoansNonaccrual Loans with no Allowance for Credit LossNonaccrual Loans Nonaccrual Loans with no Allowance for Credit Loss
Global fund banking$11 $11 $— $— 
Investor dependent:
Early stage18,340 3 11,093 460 
Mid stage4,056 3,159 17,330 274 
Later stage28,657 118 6,296 — 
Total investor dependent51,053 3,280 34,719 734 
Cash flow dependent:
Sponsor led buyout39,996 — 44,585 — 
Other6,004 1,138 17,681 2,782 
Total cash flow dependent46,000 1,138 62,266 2,782 
Private bank6,152 2,393 5,480 3,714 
Balance sheet dependent— — — — 
Premium wine998 998 204 — 
Other30 30 — — 
SBA loans— — — — 
Total nonaccrual loans (1)$104,244 $7,850 $102,669 $7,230 
(1)As of December 31, 2020, loan amounts are disclosed using the amortized cost basis as a result of the adoption of CECL. Prior period loan amounts are disclosed using the gross basis in accordance with the previous methodology.
Summary of Loans Modified in Troubled Debt Restructurings ("TDRs") by Portfolio Segment and Class of Financing Receivables
The following table summarizes our loans modified in TDRs, broken out by risk-based segment, at December 31, 2020 and 2019:
(Dollars in thousands)December 31, 2020December 31, 2019
Loans modified in TDRs:
Global fund banking$— $— 
Investor dependent
Early stage6,705 9,471 
Mid stage4,050 5,189 
Later stage24,896 23,318 
Total investor dependent35,651 37,978 
Cash flow dependent
Sponsor led buyout21,529 55,443 
Other1,237 — 
Total cash flow dependent22,766 55,443 
Private bank— 2,104 
Balance sheet dependent— — 
Premium wine2,661 13,457 
Other— — 
SBA loans— — 
Total loans modified in TDRs (1)$61,078 $108,982 
(1)As of December 31, 2020, loan amounts are disclosed using the amortized cost basis as a result of the adoption of CECL. Prior period loan amounts are disclosed using the gross basis in accordance with the previous methodology.
Recorded Investment in Loans Modified in TDRs
The following table summarizes the recorded investment in loans modified in TDRs, broken out by risk-based segment, for modifications made during 2020, 2019 and 2018:
 Year ended December 31,
(Dollars in thousands)202020192018
Loans modified in TDRs during the period:
Global fund banking$— $— $— 
Investor dependent
Early stage6,112 9,471 660 
Mid stage897 3,445 6,657 
Later stage24,896 16,293 21,051 
Total investor dependent31,905 29,209 28,368 
Cash flow dependent
Sponsor led buyout21,529 48,153 — 
Other1,237 — 12,386 
Total cash flow dependent22,766 48,153 12,386 
Private bank— 1,792 320 
Balance sheet dependent— — — 
Premium wine998 11,017 — 
Other— — — 
SBA loans— — — 
Total loans modified in TDRs during the period (1) (2)$55,669 $90,171 $41,074 
(1)For the year ended December 31, 2020, loan amounts are disclosed using the amortized cost basis as a result of the adoption of CECL. Prior period loan amounts are disclosed using the gross basis in accordance with the previous methodology.
(2)There were $31.1 million, $11.3 million and $4.6 million of partial charge-offs during 2020, 2019 and 2018, respectively.
Recorded Investment in Loans Modified in TDRs within Previous 12 months Subsequently Defaulted
The following table summarizes the recorded investment in loans modified in TDRs within the previous 12 months that subsequently defaulted during 2020, 2019 and 2018:
 December 31,
(Dollars in thousands)202020192018
TDRs modified within the previous 12 months that defaulted during the period:
Global fund banking$— $— $— 
Investor dependent
Early stage— — — 
Mid stage— — — 
Later stage— 10,639 — 
Total investor dependent— 10,639 — 
Cash flow dependent
Sponsor led buyout— 37,294 
Other487 — — 
Total cash flow dependent487 37,294 — 
Private bank— — — 
Balance sheet dependent— — — 
Premium wine998 — — 
Other— — — 
SBA loans
— — — 
Total TDRs modified within the previous 12 months that defaulted in the period (1)
$1,485 $47,933 $— 
(1)For the year ended December 31, 2020, loan amounts are disclosed using the amortized cost basis as a result of the adoption of CECL. Prior period loan amounts are disclosed using the gross basis in accordance with the previous methodology.
Allowance for Unfunded Commitments
The following table summarizes the activity relating to our allowance for credit losses for unfunded credit commitments for 2020, 2019 and 2018:
 December 31,
(Dollars in thousands)202020192018
Allowance for credit losses: unfunded credit commitments, beginning balance$67,656 $55,183 $51,770 
Impact of adopting ASC 32622,826 — — 
Provision for unfunded credit commitments30,066 12,233 3,578 
Foreign currency translation adjustments248 240 (165)
Allowance for credit losses: unfunded credit commitments, ending balance (1)$120,796 $67,656 $55,183 
(1)The “allowance for credit losses: unfunded credit commitments” is included as a component of “other liabilities” on our consolidated balance sheets. See Note 21—“Off-Balance Sheet Arrangements, Guarantees and Other Commitments” for additional disclosures related to our commitments to extend credit.
Impaired Loans and Allowance for Loan Losses, Broken out by Portfolio Segment and Class of Financing Receivable
The following table summarizes our impaired loans as they relate to our allowance for loan losses, broken out by our previous portfolio segments and classes of financing receivable for the year ended December 31, 2019:
(Dollars in thousands)Impaired loans for 
which there is a related allowance for loan losses		Impaired loans for 
which there is no related allowance for loan losses		Total carrying value of impaired loansTotal unpaid principal of impaired loans   
December 31, 2019:
Commercial loans:
Software/internet$64,100 $31,472 $95,572 $109,736 
Hardware2,143 3,315 5,458 10,049 
Private equity/venture capital— — — — 
Life science/healthcare25,941 5,671 31,612 70,600 
Premium wine204 11,718 11,922 12,010 
Other1,284 1,681 2,965 3,114 
Total commercial loans93,672 53,857 147,529 205,509 
Consumer loans:
Real estate secured loans1,766 3,714 5,480 8,527 
Total consumer loans1,766 3,714 5,480 8,527 
Total$95,438 $57,571 $153,009 $214,036 
Average Impaired Loans, Broken out by Portfolio Segment and Class of Financing Receivable
The following table summarizes our average impaired loans and interest income recognized on impaired loans, broken out by our previous portfolio segments and classes of financing receivable during 2019 and 2018:
Year ended December 31,
(Dollars in thousands)		Average impaired loansInterest income recognized on impaired loans
2019201820192018
Commercial loans:
Software/internet$88,628 $112,493 $2,813 $1,513 
Hardware12,500 28,540 464 312 
Private equity/venture capital2,264 1,327 — — 
Life science/healthcare44,827 30,144 919 756 
Premium wine2,912 2,605 311 68 
Other2,050 171 21 — 
Total commercial loans153,181 175,280 4,528 2,649 
Consumer loans:
Real estate secured loans7,159 4,028 54 15 
Other consumer loans7 358 — — 
Total consumer loans7,166 4,386 54 15 
Total average impaired loans$160,347 $179,666 $4,582 $2,664 
Allowance for Loan Losses Individually and Collectively Evaluated for Impairment
The following table summarizes the allowance for loan losses individually and collectively evaluated for impairment as of December 31, 2019, broken out by our previous portfolio segments:
 December 31, 2019
Individually Evaluated for ImpairmentCollectively Evaluated for  
Impairment
(Dollars in thousands)Allowance for loan lossesRecorded investment in loansAllowance for loan lossesRecorded investment in loans
Commercial loans:
Software/internet$26,613 $95,572 $73,610 $6,103,976 
Hardware1,214 5,458 18,430 1,365,701 
Private equity/venture capital— — 115,805 17,801,324 
Life science/healthcare16,414 31,612 22,831 2,336,436 
Premium wine204 11,922 4,944 1,076,295 
Other203 2,965 3,150 556,689 
Total commercial loans44,648 147,529 238,770 29,240,421 
Total consumer loans211 5,480 21,295 3,771,206 
Total$44,859 $153,009 $260,065 $33,011,627