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Loans and Leases (Tables)
 9 Months Ended
Sep. 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:
September 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$37,698 44.9 %$38,130 55.3 %
Commercial real estate10,48612.5 %8,52612.4 %
One-to-four family first mortgage5,8827.0 %5,8218.4 %
Acquisition, development, and construction2,9103.5 %1,9962.8 %
Total mortgage loans held for investment (1)
$56,976 67.9 %$54,473 78.9 %
Other Loans:
Commercial and industrial21,27525.3 %10,59715.4 %
Lease financing, net of unearned income of $243 and $85, respectively
3,1483.7 %1,6792.4 %
Total commercial and industrial loans (2)
24,42329.0 %12,27617.8 %
Other2,5963.1 %2,2523.3 %
Total other loans held for investment27,01932.1 %14,52821.1 %
Total loans and leases held for investment (1)
$83,995 100.0 %$69,001 100.0 %
Allowance for credit losses on loans and leases(619)(393)
Total loans and leases held for investment, net83,37668,608
Loans held for sale, at fair value1,926 1,115
Total loans and leases, net$85,302 $69,723 
(1)Excludes accrued interest receivable of $405 million and $292 million at September 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 $5.2 billion and $4.4 billion at September 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 September 30, 2023:
(in millions)Loans 30-89 Days Past DueNon- Accrual LoansTotal Past Due LoansCurrent LoansTotal Loans Receivable
Multi-family$60 $102 $162 $37,536 $37,698 
Commercial real estate26 157 183 10,303 10,486 
One-to-four family first mortgage19 90 109 5,773 5,882 
Acquisition, development, and construction1 1 2 2,908 2,910 
Commercial and industrial(1)
43 65 108 24,315 24,423 
Other20 19 39 2,557 2,596 
Total$169 $434 $603 $83,392 $83,995 
(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 LoansTotal 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)
2 3 5 12,271 12,276 
Other11 13 24 2,228 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 September 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(2)
$36,027 $9,248 $5,780 $2,894 $53,949 $24,162 $2,572 $26,734 
Special mention776 425 3 15 1,219 94 — 94 
Substandard895 813 99 1 1,808 160 24 184 
Doubtful— — — — — 7 — 7 
Total$37,698 $10,486 $5,882 $2,910 $56,976 $24,423 $2,596 $27,019 
(1)Includes lease financing receivables, all of which were classified as Pass.
(2)Pass includes 1-6W.
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(2)
$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— — — — — — — — 
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.
(2) Pass includes 1-6W.
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 September 30, 2023:

Vintage Year
(in millions)20232022202120202019Prior To 2019Revolving LoansRevolving Loans Converted to Term LoansTotal
Pass(1)
$2,218 $13,695 $10,148 $9,547 $5,247 $11,115 $1,972 $7 $53,949 
Special Mention2 46 26 176 211 758 — — 1,219 
Substandard44 18 32 38 331 1,342 — 3 1,808 
Doubtful— — — — — — — — — 
Total mortgage loans$2,264 $13,759 $10,206 $9,761 $5,789 $13,215 $1,972 $10 $56,976 
Current-period gross writeoffs— — — — (2)(17)— — (19)
Pass(1)
$8,458 $3,924 $1,980 $1,619 $993 $1,021 $8,418 $321 $26,734 
Special Mention7 24 6 3 37 13 4 — 94 
Substandard16 28 21 16 5 46 42 10 184 
Doubtful— — 7 — — — — — 7 
Total other loans$8,481 $3,976 $2,014 $1,638 $1,035 $1,080 $8,464 $331 $27,019 
Current-period gross writeoffs$(6)$(2)$(1)$(1)$(2)$(3)$— $— $(15)
Total$10,745 $17,735 $— $12,220 $11,399 $6,824 $14,295 $10,436 $341 $83,995 
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 September 30, 2023:

Collateral Type
(in millions)Real PropertyOther
Multi-family$102 $— 
Commercial real estate170 — 
One-to-four family first mortgage100 — 
Commercial and industrial— 33 
Other— — 
Total collateral-dependent loans held for investment$372 $33 
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 September 30, 2023
Multi-family
$100 $— $— $100 0.95 %
Commercial real estate67 — — 67 0.64 %
One-to-four family first mortgage3 1 2 6 0.10 %
Commercial and Industrial1 11 2 14 0.07 %
Other Consumer— — 1 1 0.04 %
Total$171 $12 $5 $188 
Nine months ended September 30, 2023
Multi-family
$100 $— $— $100 0.95 %
Commercial real estate119 — — 119 1.13 %
One-to-four family first mortgage3 4 5 12 0.20 %
Commercial and Industrial1 18 2 21 0.09 %
Other Consumer$— $— $1 1 0.04 %
Total$223 $22 $8 $253 

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 September 30, 2023
Multi-family
7.73 %6.17 %
Commercial real estate10.77 %4.32 %
One-to-four family first mortgage— %— %9.9
Commercial and industrial8.02 %7.74 %0.36
Other Consumer9.28 %4.75 %4.8
Nine months ended September 30, 2023
Multi-family
7.73 %6.17 %
Commercial real estate10.48 %4.18 %
One-to-four family first mortgage— %— %12.1
Commercial and industrial8.02 %7.74 %0.46
Other Consumer14.49 %8.00 %4.8
The following table depicts the performance of loans that have been modified during the reporting period:
September 30, 2023
(dollars in millions)Current30 - 89 Past Due90+ Past DueTotal
One-to-four family first mortgage1—910
Commercial and industrial21——21
Other Consumer1——1
Total$23 $— $9 $32 
The following table presents information regarding the Company's TDRs as of September 30, 2022:

September 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 September 30, 2022.

The financial effects of the Company’s TDRs for the three and nine months ended September 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 September 30, 2022
Commercial real estate0$— $— — %— %$— $— 
Nine Months Ended September 30, 2022
Commercial real estate2$22 $19 6.00 %4.02 %$3 $—