Bank Loans (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Schedule Of Balance And Associated Percentage Of Each Major Loan Category In Bank Loan Portfolio

The following table presents the balance and associated percentage of each major loan category in our bank loan portfolio at March 31, 2022 and December 31, 2021 (in thousands, except percentages):

	March 31, 2022						December 31, 2021
	Balance			Percent			Balance			Percent
Commercial and industrial	$	7,656,507			43.1	%	$	7,345,753			43.9	%
Residential real estate		6,008,507			33.8			5,482,026			32.7
Securities-based loans		2,954,212			16.6			2,880,158			17.2
Construction and land		521,623			2.9			511,084			3.1
Commercial real estate		499,825			2.8			409,847			2.4
Home equity lines of credit		87,901			0.5			82,508			0.5
Other		32,973			0.3			32,111			0.2
Gross bank loans		17,761,548			100.0	%		16,743,487			100.0	%
Unamortized loan discount, net		(150	)					(150	)
Loans in process		(52,813	)					(10,134	)
Unamortized loan fees, net		(11,546	)					(6,012	)
Allowance for loan losses		(104,198	)					(99,344	)
Loans held for investment, net	$	17,592,841					$	16,627,847

Activity In The Allowance For Loan Losses By Portfolio Segment

The following table details activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2022 (in thousands).

	Three Months Ended March 31, 2022
	Beginning Balance		Provision			Charge-offs		Recoveries		Ending Balance
Commercial and industrial	$	53,529	$	1,051		$	—	$	—	$	54,580
Residential real estate		28,560		4,367			—		—		32,927
Construction and land		8,536		(415	)		—		—		8,121
Securities-based loans		4,006		(30	)		—		—		3,976
Commercial real estate		3,934		(254	)		—		—		3,680
Home equity lines of credit		511		172			—		—		683
Other		268		(37	)		—		—		231
	$	99,344	$	4,854		$	—	$	—	$	104,198

	Three Months Ended March 31, 2021
	Beginning Balance		Provision			Charge-offs			Recoveries		Ending Balance
Commercial and industrial	$	67,222	$	(9,972	)	$	(934	)	$	—	$	56,316
Construction and land		17,275		1,598			—			—		18,873
Residential real estate		16,300		365			—			—		16,665
Commercial real estate		8,580		4,480			—			—		13,060
Securities-based loans		2,015		154			—			—		2,169
Home equity lines of credit		374		(33	)		—			—		341
Other		263		(19	)		—			—		244
	$	112,029	$	(3,427	)	$	(934	)	$	—	$	107,668

Aging Of The Recorded Investment In Past Due Loans

The following tables present the aging of the recorded investment in past due loans at March 31, 2022 and December 31, 2021 by portfolio segment (in thousands):

	As of March 31, 2022
	30 – 89 Days Past Due		90 or More Days Past Due		Total Past Due		Current Balance		Total
Commercial and industrial	$	—	$	15,477	$	15,477	$	7,641,030	$	7,656,507
Residential real estate		698		1,332		2,030		6,006,477		6,008,507
Securities-based loans		—		—		—		2,954,212		2,954,212
Construction and land		—		—		—		521,623		521,623
Commercial real estate		—		—		—		499,825		499,825
Home equity lines of credit		—		29		29		87,872		87,901
Other		22		11		33		32,940		32,973
Total	$	720	$	16,849	$	17,569	$	17,743,979	$	17,761,548

	As of March 31, 2022*
	Nonaccrual		Restructured		Nonperforming loans with no allowance		Total
Commercial and industrial	$	15,477	$	—	$	—	$	15,477
Residential real estate		1,332		154		—		1,486
Home equity lines of credit		29		—		—		29
Total	$	16,838	$	154	$	—	$	16,992

* There were no loans past due 90 days and still accruing interest at March 31, 2022.

	As of December 31, 2021
	30 – 89 Days Past Due		90 or More Days Past Due		Total Past Due		Current Balance		Total
Commercial and industrial	$	9,290	$	6,571	$	15,861	$	7,329,892	$	7,345,753
Residential real estate		6,194		1,332		7,526		5,474,500		5,482,026
Securities-based loans		—		—		—		2,880,158		2,880,158
Construction and land		—		—		—		511,084		511,084
Commercial real estate		—		1		1		409,846		409,847
Home equity lines of credit		—		—		—		82,508		82,508
Other		44		—		44		32,067		32,111
Total	$	15,528	$	7,904	$	23,432	$	16,720,055	$	16,743,487

	As of December 31, 2021*
	Nonaccrual		Restructured		Nonperforming loans with no allowance		Total
Commercial and industrial	$	15,861	$	—	$	—	$	15,861
Residential real estate		1,332		154		—		1,486
Commercial real estate		—		—		1		1
Total	$	17,193	$	154	$	1	$	17,348

* There were no loans past due 90 days and still accruing interest at December 31, 2021.

Risk Category Of Loan Portfolio

Based on the most recent analysis performed, the risk category of our loan portfolio was as follows (in thousands):

	As of March 31, 2022
	Pass		Special Mention		Substandard		Doubtful		Total
Commercial and industrial	$	7,504,185	$	38,000	$	98,845	$	15,477	$	7,656,507
Residential real estate		6,007,175		—		—		1,332		6,008,507
Securities-based loans		2,954,212		—		—		—		2,954,212
Construction and land		501,623		—		20,000		—		521,623
Commercial real estate		499,825		—		—		—		499,825
Home equity lines of credit		87,872		—		29		—		87,901
Other		32,973		—		—		—		32,973
Total	$	17,587,865	$	38,000	$	118,874	$	16,809	$	17,761,548

	As of December 31, 2021
	Pass		Special Mention		Substandard		Doubtful		Total
Commercial and industrial	$	7,193,435	$	38,000	$	107,747	$	6,571	$	7,345,753
Residential real estate		5,480,693		—		84		1,249		5,482,026
Securities-based loans		2,880,158		—		—		—		2,880,158
Construction and land		476,844		14,240		20,000		—		511,084
Commercial real estate		407,298		2,548		—		1		409,847
Home equity lines of credit		82,479		29		—		—		82,508
Other		32,111		—		—		—		32,111
Total	$	16,553,018	$	54,817	$	127,831	$	7,821	$	16,743,487

Schedule of Term Loans Amortized Cost Basis by Origination Year and Revolving Cost Amortized Cost Basis

	Term Loans Amortized Cost Basis by Origination Year – March 31, 2022
	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial and industrial:
Pass	$	451,990	$	1,641,198	$	331,699	$	361,033	$	400,325	$	581,516	$	3,736,424	$	7,504,185
Special Mention		—		—		—		30,000		8,000		—		—		38,000
Substandard		—		—		—		28,435		46,217		19,808		4,385		98,845
Doubtful		—		—		515		—		8,766		6,196		—		15,477
	$	451,990	$	1,641,198	$	332,214	$	419,468	$	463,308	$	607,520	$	3,740,809	$	7,656,507
Residential real estate:
Pass	$	855,640	$	2,659,672	$	1,131,094	$	519,260	$	214,470	$	627,039	$	—	$	6,007,175
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		1,332		—		1,332
	$	855,640	$	2,659,672	$	1,131,094	$	519,260	$	214,470	$	628,371	$	—	$	6,008,507
Securities-based loans:
Pass	$	—	$	74,148	$	34,445	$	88,778	$	—	$	10,312	$	2,746,529	$	2,954,212
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
	$	—	$	74,148	$	34,445	$	88,778	$	—	$	10,312	$	2,746,529	$	2,954,212
Construction and land:
Pass	$	—	$	33,532	$	162,879	$	156,479	$	81,151	$	67,582	$	—	$	501,623
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		20,000		—		—		20,000
Doubtful		—		—		—		—		—		—		—		—
	$	—	$	33,532	$	162,879	$	156,479	$	101,151	$	67,582	$	—	$	521,623
Commercial real estate:
Pass	$	83,891	$	124,648	$	72,901	$	149,226	$	21,951	$	47,208	$	—	$	499,825
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
	$	83,891	$	124,648	$	72,901	$	149,226	$	21,951	$	47,208	$	—	$	499,825
Home equity lines of credit:
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	87,872	$	87,872
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		29		29
Doubtful		—		—		—		—		—		—		—		—
	$	—	$	—	$	—	$	—	$	—	$	—	$	87,901	$	87,901
Other:
Pass	$	240	$	779	$	10,000	$	—	$	1,031	$	19,155	$	1,768	$	32,973
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
	$	240	$	779	$	10,000	$	—	$	1,031	$	19,155	$	1,768	$	32,973