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Loans and Leases (Tables)
 6 Months Ended
Jun. 30, 2023
Receivables [Abstract]  
Summary of Components We report LHFI loans at their amortized cost, which includes the outstanding principal balance adjusted for any unamortized premiums, discounts, deferred fees and unamortized fair value for acquired loans:
June 30, 2023December 31, 2022
(dollars in millions)AmountPercent of
Loans
Held for
Investment		AmountPercent of
Loans
Held for
Investment
Loans and Leases Held for Investment:
Mortgage Loans:
Multi-family$37,831 45.4 %$38,130 55.3 %
Commercial real estate10,61312.7 %8,52612.4 %
One-to-four family first mortgage5,8897.1 %5,8218.4 %
Acquisition, development, and construction2,4813.0 %1,9962.9 %
Total mortgage loans held for investment (1)
56,81468.2 %$54,473 78.9 %
Other Loans:
Commercial and industrial20,86925.1 %10,59715.4 %
Lease financing, net of unearned income of $219 and $85, respectively
2,9923.6 %1,6792.4 %
Total commercial and industrial loans (2)
23,86128.7 %12,27617.8 %
Other2,6033.1 %2,2523.3 %
Total other loans held for investment26,46431.8 %14,52821.1 %
Total loans and leases held for investment (1)
$83,278 100.0 %$69,001 100.0 %
Allowance for credit losses on loans and leases(594)(393)
Total loans and leases held for investment, net82,68468,608
Loans held for sale, at fair value2,1941,115
Total loans and leases, net$84,878 $69,723 
(1)Excludes accrued interest receivable of $387 million and $292 million at June 30, 2023 and December 31, 2022, respectively, which is included in other assets in the Consolidated Statements of Condition.
(2)Includes specialty finance loans and leases of $4.8 billion and $4.4 billion at June 30, 2023 and December 31, 2022, respectively.
Schedule of Quality of Loans Held for Investment
The following table presents information regarding the quality of the Company’s loans held for investment at June 30, 2023:
(in millions)Loans 30-89 Days Past DueNon- Accrual LoansLoans 90 Days or More Delinquent and Still Accruing InterestTotal Past Due LoansCurrent LoansTotal Loans Receivable
Multi-family$79 $33 $— $112 $37,719 $37,831 
Commercial real estate147 36 — 183 10,430 10,613 
One-to-four family first mortgage17 85 — 102 5,787 5,889 
Acquisition, development, and construction29 — — 29 2,452 2,481 
Commercial and industrial(1)
45 79 — 124 23,737 23,861 
Other18 — — 18 2,585 2,603 
Total$335 $233 $— $568 $82,710 $83,278 
(1)Includes lease financing receivables, all of which were current.
The following table presents information regarding the quality of the Company’s loans held for investment at December 31, 2022:

(in millions)Loans 30-89 Days Past DueNon- Accrual LoansLoans 90 Days or More Delinquent and Still Accruing InterestTotal Past Due LoansCurrent LoansTotal Loans Receivable
Multi-family$34 $13 $— $47 $38,083 $38,130 
Commercial real estate2 20 — 22 8,504 8,526 
One-to-four family first mortgage21 92 — 113 5,708 5,821 
Acquisition, development, and construction— — — — 1,996 1,996 
Commercial and industrial(1)
— 7 — 7 12,269 12,276 
Other13 9 — 22 2,230 2,252 
Total$70 $141 $— $211 $68,790 $69,001 
(1)Includes lease financing receivables, all of which were current.
Summary of Loans Held for Investment by Credit Quality Indicator
The following table summarizes the Company’s portfolio of loans held for investment by credit quality indicator at June 30, 2023:

Mortgage LoansOther Loans
(in millions)Multi- FamilyCommercial Real EstateOne-to- Four FamilyAcquisition, Development, and ConstructionTotal Mortgage Loans
Commercial and Industrial(1)
OtherTotal Other Loans
Credit Quality Indicator:
Pass$36,423 $9,731 $5,785 $2,473 $54,412 $23,659 $2,582 $26,241 
Special mention803 261 9 — 1,073 86 — 86 
Substandard605 621 95 8 1,329 109 21 130 
Doubtful— — — — — 7 — 7 
Total$37,831 $10,613 $5,889 $2,481 $56,814 $23,861 $2,603 $26,464 
(1)Includes lease financing receivables, all of which were classified as Pass.
The following table summarizes the Company’s portfolio of loans held for investment by credit quality indicator at December 31, 2022:

Mortgage LoansOther Loans
(in millions)Multi- FamilyCommercial Real EstateOne-to- Four FamilyAcquisition, Development, and ConstructionTotal Mortgage Loans
Commercial and Industrial(1)
OtherTotal Other Loans
Credit Quality Indicator:
Pass$36,622 $7,871 $5,710 $1,992 $52,195 $12,208 $2,238 $14,446 
Special mention864 230 8 4 1,106 18 — 18 
Substandard644 425 103 — 1,172 50 14 64 
Doubtful— — — — 0— — — 
Total$38,130 $8,526 $5,821 $1,996 $54,473 $12,276 $2,252 $14,528 
(1)Includes lease financing receivables, all of which were classified as Pass.
The following table presents, by credit quality indicator, loan class, and year of origination, the amortized cost basis of the Company’s loans and leases as of June 30, 2023:

Vintage Year
(in millions)20232022202120202019Prior To 2019Revolving LoansRevolving Loans Converted to Term LoansTotal
Pass$1,903 $13,645 $10,819 $9,880 $5,598 $12,288 $273 $6 $54,412 
Special Mention2 2 61 142 251 614 1 — 1,073 
Substandard4 2 31 42 254 993 — 3 1,329 
Doubtful— — — — — — — — — 
Total mortgage loans$1,909 $13,649 $10,911 $10,064 $6,103 $13,895 $274 $9 $56,814 
Current-period gross writeoffs— — — — (1)(2)— — (3)
Pass$6,321 $2,338 $2,514 $3,706 $2,036 $1,122 $7,869 $335 $26,241 
Special Mention32 5 4 12 7 21 5 — 86 
Substandard5 5 5 33 2 56 18 6 130 
Doubtful— — — 7 — — — — 7 
Total other loans$6,358 $2,348 $2,523 $3,758 $2,045 $1,199 $7,892 $341 $26,464 
Current-period gross writeoffs$— $(1)$(1)$(1)$— $(2)$— $— $(5)
Total$8,267 $15,997 $— $13,434 $13,822 $8,148 $15,094 $8,166 $350 $83,278 
Summary of Collateral
The following table summarizes the extent to which collateral secures the Company’s collateral-dependent loans held for investment by collateral type as of June 30, 2023:

Collateral Type
(in millions)Real PropertyOther
Multi-family$41 $— 
Commercial real estate33 — 
One-to-four family first mortgage92 — 
Commercial and industrial— 39 
Other12 — 
Total collateral-dependent loans held for investment$178 $39 
Summary of Modifications to Borrowers Experiencing Financial Difficulty and Performance of Loans Modified in Last 12 Months, and TDRs
The following table summarizes the amortized cost basis of loans modified during the reporting period to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of modification:

Amortized Cost
(dollars in millions)Interest Rate ReductionTerm ExtensionCombination - Interest Rate Reduction & Term ExtensionTotalPercent of Total Loan class
Three months ended June 30, 2023
Commercial real estate$8 $— $— $8 0.08 %
One-to-four family first mortgage— 2 2 4 0.07 %
Commercial and Industrial— 7 — 7 0.03 %
Total$8 $9 $2 $19 
Six months ended June 30, 2023
Commercial real estate$52 $— $— $52 0.49 %
One-to-four family first mortgage$— $3 $3 6 0.10 %
Commercial and Industrial$— $7 $— 7 0.03 %
Total$52 $10 $3 $65 

The following table describes the financial effect of the modification made to borrowers experiencing financial difficulty:

Interest Rate ReductionTerm Extension
Weighted-average contractual interest rate
FromToWeighted-average Term (in years)
Three months ended June 30, 2023
Commercial real estate8.00 %4.0 %
One-to-four family first mortgage6.05 %4.8 %13.6
Commercial and industrial0.76
Six months ended June 30, 2023
Commercial real estate10.09 %4.0 %
One-to-four family first mortgage5.47 %4.4 %13.0
Commercial and industrial0.76
The following table depicts the performance of loans that have been modified during the reporting period:
June 30, 2023
(dollars in millions)Current30 - 89 Past Due90+ Past DueTotal
One-to-four family first mortgage——66
Total$— $— $6 $6 
The following table presents information regarding the Company's TDRs as of June 30, 2022:

June 30, 2022
(dollars in millions)AccruingNon- AccrualTotal
Loan Category:
Multi-family$— $6 $6 
Commercial real estate161935
Commercial and industrial (1)
—44
Total$16 $29 $45 
(1) Includes $4 million of taxi medallion-related loans at June 30, 2022.

The financial effects of the Company’s TDRs for the three and six months ended June 30, 2022 are summarized as follows:

Weighted Average Interest Rate
(dollars in millions)Number of LoansPre- Modification Recorded InvestmentPost- Modification Recorded InvestmentPre- ModificationPost- ModificationCharge- off AmountCapitalized Interest
Loan Category:
Three Months Ended June 30, 2022
Commercial real estate1$— $— 4.75 %9.75 %$— $— 
Six Months Ended June 30, 2022
Commercial real estate2$22 $19 6.00 %4.00 %$3 $—