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BANK LOANS, NET (Tables)
 3 Months Ended
Dec. 31, 2020
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
The following table presents the balances for both the held for sale and held for investment loan portfolios, as well as the associated percentage of each portfolio segment in RJ Bank’s total loan portfolio.
 December 31, 2020September 30, 2020
$ in millionsBalance%Balance%
C&I loans$7,499 33 %$7,421 34 %
CRE loans2,664 12 %2,489 12 %
REIT loans1,254 6 %1,210 5 %
Tax-exempt loans1,237 6 %1,259 6 %
Residential mortgage loans4,928 22 %4,973 23 %
SBL and other4,544 20 %4,087 19 %
Total loans held for investment22,126 99 %21,439 99 %
Held for sale loans209 1 %110 1 %
Total loans held for sale and investment22,335 100 %21,549 100 %
Allowance for credit losses(378) (354) 
Bank loans, net$21,957  $21,195  
Accrued interest receivable on bank loans$46 $45 
The following table presents the balances for our loans to financial advisors and the related accrued interest receivable.
$ in millionsDecember 31, 2020September 30, 2020
Currently affiliated with the firm (1)
$989 $1,001 
No longer affiliated with the firm (2)
16 15 
Total loans to financial advisors1,005 1,016 
Allowance for credit losses(29)(4)
Loans to financial advisors, net$976 $1,012 
Accrued interest receivable on loans to financial advisors$4 $4 

(1) These loans were predominately current.

(2) These loans were predominately past due for a period of 180 days or more and on nonaccrual status.
Loan Purchases and Sales
The following table presents purchases and sales of any loans held for investment by portfolio segment.
$ in millionsC&I loansResidential mortgage loansTotal
Three months ended December 31, 2020
Purchases$122 $46 $168 
Sales$5 $— $5 
Three months ended December 31, 2019
Purchases$67 $158 $225 
Sales$20 $— $20 
Analysis of the Payment Status of Loans Held for Investment
The following table presents information on delinquency status of our loans held for investment.
$ in millions30-89 days and accruing90 days or more and accruing Total past due and accruingNonaccrual with allowanceNonaccrual with no allowanceCurrent and accruingTotal loans held for investment
December 31, 2020      
C&I loans$— $— $— $— $— $7,499 $7,499 
CRE loans— — — — 14 2,650 2,664 
REIT loans— — — — — 1,254 1,254 
Tax-exempt loans— — — — — 1,237 1,237 
Residential mortgage loans3 — 3 9 5 4,911 4,928 
SBL and other— — — — — 4,544 4,544 
Total loans held for investment$3 $— $3 $9 $19 $22,095 $22,126 
September 30, 2020      
C&I loans$— $— $— $2 $— $7,419 $7,421 
CRE loans— — — — 14 2,475 2,489 
REIT loans— — — — — 1,210 1,210 
Tax-exempt loans— — — — — 1,259 1,259 
Residential mortgage loans— — — 3 11 4,959 4,973 
SBL and other— — — — — 4,087 4,087 
Total loans held for investment$— $— $— $5 $25 $21,409 $21,439 
Credit Quality of Held for Investment Loan Portfolio
The following tables present RJ Bank’s held for investment loan portfolio by year of origination and credit quality indicator as of December 31, 2020.
$ in millions20212020201920182017PriorRevolving loansTotal
C&I loans
Risk rating:
Pass$66$991$1,109$1,493$1,121$1,591$709$7,080
Special mention——4410212—43201
Substandard—287878—34—218
Doubtful————————
Total C&I loans$66$1,019$1,231$1,673$1,133$1,625$752$7,499
CRE loans
Risk rating:
Pass$133$406$599$653$225$210$60$2,286
Special mention—4510349—47—244
Substandard——1468844—134
Doubtful————————
Total CRE loans$133$451$716$770$233$301$60$2,664
REIT loans
Risk rating:
Pass$121$49$164$98$82$344$322$1,180
Special mention————18—2745
Substandard——22—4—329
Doubtful————————
Total REIT loans$121$49$186$98$104$344$352$1,254
Tax-exempt loans
Risk rating:
Pass$9$59$123$211$279$556$—$1,237
Special mention————————
Substandard————————
Doubtful————————
Total tax-exempt loans$9$59$123$211$279$556$—$1,237
Residential mortgage loans
Risk rating:
Pass$376$1,551$877$550$605$920$21$4,900
Special mention—————6—6
Substandard————121—22
Doubtful————————
Total residential mortgage loans$376$1,551$877$550$606$947$21$4,928
SBL and other
Risk rating:
Pass$—$46$12$—$—$—$4,486$4,544
Special mention————————
Substandard————————
Doubtful————————
Total SBL and other$—$46$12$—$—$—$4,486$4,544
The following table presents the held for investment residential mortgage loan portfolio by FICO score and by LTV ratio at origination.
$ in millionsDecember 31, 2020September 30, 2020
FICO score:
Below 600$67 $67 
600 - 699380 363 
700 - 7993,424 3,463 
800 +1,052 1,076 
FICO score not available5 4 
Total$4,928 $4,973 
LTV ratio:
Below 80%$3,812 $3,852 
80%+1,116 1,121 
Total$4,928 $4,973 
Changes in the Allowance for Loan Losses
The following table presents changes in the allowance for credit losses on held for investment bank loans by portfolio segment.
$ in millionsC&I loansCRE loansREIT loansTax-exempt loansResidential mortgage loansSBL and otherTotal
Three months ended December 31, 2020     
Balance at beginning of period
$200 $81 $36 $14 $18 $5 $354 
Impact of CECL adoption19 (11)(9)(12)24 (2)9 
Provision/(benefit) for credit losses(22)42 3 — (9)— 14 
Net (charge-offs)/recoveries:
      
Charge-offs— — — — — — — 
Recoveries— — — — — — — 
Net (charge-offs)/recoveries
— — — — — — — 
Foreign exchange translation adjustment
1 — — — — — 1 
Balance at end of period
$198 $112 $30 $2 $33 $3 $378 
Three months ended December 31, 2019
Balance at beginning of period
$139 $34 $15 $9 $16 $5 $218 
Provision/(benefit) for credit losses— 2 (3)(1)1 (1)(2)
Net (charge-offs)/recoveries:
     
Charge-offs— — — — — — — 
Recoveries— — — — — — — 
Net (charge-offs)/recoveries— — — — — — — 
Foreign exchange translation adjustment
— — — — — — — 
Balance at end of period
$139 $36 $12 $8 $17 $4 $216