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Loans and Leases (Tables)
 6 Months Ended
Jun. 30, 2024
Receivables [Abstract]  
Schedule of Components We report loans held for investment loans at their amortized cost, which includes the outstanding principal balance adjusted for any unamortized premiums, discounts, deferred fees and unamortized fair value adjustments for acquired loans:
June 30, 2024December 31, 2023
(dollars in millions)AmountPercent of
Loans
Held for
Investment		AmountPercent of
Loans
Held for
Investment
Loans and Leases Held for Investment:
Multi-family$36,011 48.3 %$37,265 44.0 %
Commercial real estate9,961 13.3 %10,470 12.4 %
One-to-four family first mortgage5,790 7.8 %6,061 7.2 %
Acquisition, development, and construction3,217 4.3 %2,912 3.4 %
Commercial and industrial(1)
15,088 20.2 %22,065 26.1 %
Lease financing, net of unearned income of $218 and $258, respectively
2,731 3.7 %3,189 3.8 %
Other1,754 2.4 %2,657 3.1 %
Total loans and leases held for investment (2)
$74,552 100.0 %$84,619 100.0 %
Allowance for credit losses on loans and leases(1,268)(992)
Total loans and leases held for investment, net73,284 83,627 
Loans held for sale, at fair value7,845 1,182 
Total loans and leases, net$81,129 $84,809 
(1)Includes specialty finance loans and leases of $4.8 billion and $5.2 billion at June 30, 2024 and December 31, 2023, respectively.
(2)Excludes accrued interest receivable of $376 million and $423 million at June 30, 2024 and December 31, 2023, respectively, which is included in other assets in the Consolidated Statements of Condition.
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, 2024:

(in millions)Loans 30-89 Days Past Due
Non-Accrual Loans
Total Past Due Loans
Remaining
Total Loans Receivable
Multi-family$893 $794 $1,687 $34,324 $36,011 
Commercial real estate125 753 878 9,083 9,961 
One-to-four family first mortgage22 106 128 5,662 5,790 
Acquisition, development, and construction54 18 72 3,145 3,217 
Commercial and industrial(1)
100 247 347 17,472 17,819 
Other10 24 34 1,720 1,754 
Total$1,204 $1,942 $3,146 $71,406 $74,552 
(1)Includes lease financing receivables.
The following table presents information regarding the quality of the Company’s loans held for investment at December 31, 2023:

(in millions)Loans 30-89 Days Past Due
Non-Accrual Loans
Total Past Due Loans
Remaining
Total Loans Receivable
Multi-family$121 $138 $259 $37,006 $37,265 
Commercial real estate28 128 156 10,314 10,470 
One-to-four family first mortgage40 95 135 5,926 6,061 
Acquisition, development, and construction2 2 4 2,908 2,912 
Commercial and industrial(1)
37 43 80 25,174 25,254 
Other22 22 44 2,613 2,657 
Total$250 $428 $678 $83,941 $84,619 
(1)Includes lease financing receivables.
Schedule of Loans Held for Investment by Credit Quality Indicator
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, 2024:

Term Loans
Revolving
Loans		Revolving
Loans Converted to Term Loans
Amortized Cost Basis by Closing Year
(in millions)
2024
2023
2022
2021
2020Prior To
2020		Total
Multi-family:
Pass$22 $765 $7,116 $7,311 $6,330 $5,859 $54 $— $27,457 
Special Mention— — 460 123 437 641 — — 1,661 
Substandard— 73 349 507 887 4,283 — — 6,099 
Non-accrual
— — 71 50 112 561 — — 794 
Total Multi-family
22 838 7,996 7,991 7,766 11,344 54 — 36,011 
Current-period gross write-offs
— — (13)(19)(6)(49)— — (87)
Commercial Real Estate:
Pass$231 $832 $1,800 $1,168 $688 $2,819 $189 $1 $7,728 
Special Mention— — 68 5 76 43 16 — 208 
Substandard— — 222 50 127 873 — — 1,272 
Non-accrual
— 44 83 1 33 592 — — 753 
Total Commercial Real Estate231 876 2,173 1,224 924 4,327 205 1 9,961 
Current-period gross write-offs
— — (42)— (19)(240)— — (301)
One-to-Four Family
Pass$173 $512 $2,493 $865 $206 $813 $82 $1 $5,145 
Special Mention— — — — — 2 — — 2 
Substandard— — — — — 537 — — 537 
Non-accrual— 2 15 17 9 60 3 — 106 
Total One-to-Four Family173 514 2,508 882 215 1,412 85 1 5,790 
Current-period gross write-offs
— — — (1)— — — — (1)
Acquisition, Development and Construction
Pass$85 $488 $309 $279 $1 $13 $1,786 $— $2,961 
Special Mention— 9 45 13 3 — 67 — 137 
Substandard— 1 4 15 — — 81 — 101 
Non-accrual— — 1 1 — 16 — — 18 
Total Acquisition, Development and Construction85 498 359 308 4 29 1,934 — 3,217 
Current-period gross write-offs
— — — — — — — — — 
Commercial and Industrial
Pass$576 $4,187 $3,488 $1,469 $899 $2,338 $4,167 $3 $17,127 
Special Mention18222724122726— 156 
Substandard5315511552751— 289 
Non-accrual0111854151319— 247 
Total Commercial and Industrial$599 $4,251 $3,755 $1,612 $931 $2,405 $4,263 $3 $17,819 
Current-period gross write-offs
(3)(8)(12)(4)(10)(9)— — (46)
Other Loans
Pass$17 $43 $20 $9 $5 $88 $1,406 $142 $1,730 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Non-accrual— — — — — 6 18 — 24 
Total Other Loans17 43 20 9 5 94 1,424 142 1,754 
Current-period gross write-offs
(1)(2)(3)(1)(1)(2)— — (10)
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 December 31, 2023:

Term Loans
Revolving
Loans		Revolving
Loans Converted to Term Loans
Amortized Cost Basis by Closing Year
(in millions)
2023
2022
2021
2020
2019
Prior To
2019
Total
Multi-family:
Pass$840 $7,945 $7,967 $7,310 $3,525 $6,537 $46 $— $34,170 
Special Mention—953337736227——768
Substandard—211762374511,304——2,189
Non-accrual
—56—2899——138
Total Multi-family
8408,0668,1827,9244,0408,16746—37,265
Current-period gross write-offs
—(112)———(7)——(119)
Commercial Real Estate:
Pass$880 $2,110 $1,182 $939 $1,011 $2,439 $172 $1 $8,734 
Special Mention—12212—11610611—367
Substandard44494772239790——1,241
Non-accrual
——1—4123——128
Total Commercial Real Estate9242,2811,2421,0111,3703,458183110,470
Current-period gross write-offs
—————(56)——(56)
One-to-Four Family
Pass$526 $2,627 $920 $210 $239 $721 $78 $7 $5,328 
Special Mention—————————
Substandard—522069542——638
Non-accrual
1111781837—395
Total One-to-Four Family5272,6439392383261,30078106,061
Current-period gross write-offs
————(1)(2)——(3)
Acquisition, Development and Construction
Pass$406 $322 $298 $4 $4 $6 $1,685 $100 $2,825 
Special Mention——2430——3—57
Substandard—67——15——28
Non-accrual
—11—————2
Total Acquisition, Development and Construction406329330344211,6881002,912
Current-period gross write-offs
—————————
Commercial and Industrial
Pass$9,418 $3,547 $1,633 $984 $719 $791 $7,535 $56 $24,683 
Special Mention1182178620101—335
Substandard7244316383332—193
Non-accrual
2142111211—43
Total Commercial and Industrial9,4283,7671,6951,0197648467,6795625,254
Current-period gross write-offs
(2)(7)(1)(7)—(14)——(31)
Other Loans
Pass$171 $346 $244 $133 $133 $117 $1,223 $268 $2,635 
Non-accrual
—2111241122
Total Other Loans1713482451341341191,2272792,657
Current-period gross write-offs
—(3)(4)(1)(2)(4)——(14)
Schedule of Collateral
The following table summarizes the recorded investment of the Company’s collateral-dependent loans held for investment by collateral type as of June 30, 2024:

Collateral Type
(in millions)Real PropertyOther
Multi-family$896 $— 
Commercial real estate769 — 
One-to-four family first mortgage106 — 
Acquisition, development, and construction19 — 
Commercial and industrial— 240 
Total collateral-dependent loans held for investment$1,790 $240 
Schedule 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, 2024
One-to-four family first mortgage— 4 1 5 0.09 %
Total$— $4 $1 $5 
Three Months Ended June 30, 2023
Commercial real estate8 — — 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, 2024
Multi-family$2 $— $— $2 0.01 %
Commercial real estate8 4 — 12 0.12 %
One-to-four family first mortgage— 5 2 7 0.12 %
Commercial and industrial
— 7 1 8 0.04 %
Total$10 $16 $3 $29 
Six Months Ended June 30, 2023
Commercial real estate52 — — 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, 2024
One-to-four family first mortgage4.76 %3.65 %10.56
Commercial and industrial8.51 6.00 1.0
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 industrial— — 0.76
Six months ended June 30, 2024
Multi-family
8.08 %6.0 %
Commercial real estate8.13 7.0 
One-to-four family first mortgage4.69 3.7 12.2
Commercial and industrial7.44 6.3 0.4
Other Consumer10.72 4.3 1.8
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 industrial— — 0.76
The following table provides a summary of loan balances at June 30, 2024, which were modified during the prior twelve months, by class of financing receivable and delinquency status:
June 30, 2024
(dollars in millions)Current30 - 89 Past Due90+ Past DueTotal
Multi-family
$26 $97 $— 123 
Commercial real estate21 3 78 102 
One-to-four family first mortgage$8 $— $9 $17 
Commercial and industrial32813
Other Consumer——11
Total$58 $102 $96 $256 

The following table provides a summary of loan balances at June 30, 2023, which were modified on or after January 1, 2023, the date the Company adopted accounting guidance which removed the separate recognition and measurement of troubled debt restructurings, through June 30, 2023, by class of financing receivable and delinquency status:

June 30, 2023
(dollars in millions)Current30 - 89 Past Due90+ Past DueTotal
One-to-four family first mortgage$— $— $6 $6 
Total$— $— $6 $6