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Loans and Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Schedule of Components We report loans held for investment at their amortized cost, which includes the outstanding principal balance adjusted for any unamortized premiums, discounts, deferred fees or fair value adjustments for acquired loans:
December 31,
20242023
(dollars in millions)AmountPercent of
Loans
Held for
Investment		AmountPercent of
Loans
Held for
Investment
Loans and Leases Held for Investment:
Multi-family$34,093 49.9 %$37,265 44.0 %
Commercial real estate8,68512.7 %10,47012.4 %
One-to-four family first mortgage5,2017.6 %6,0617.2 %
Acquisition, development, and construction3,1514.6 %2,9123.4 %
Commercial and industrial (1)
13,26019.4 %22,06526.1 %
Lease financing, net of unearned income of $169 and $258, respectively
2,1163.1 %3,1893.8 %
Other1,7662.6 %2,6573.1 %
Total loans and leases held for investment (2)
$68,272 100.0 %$84,619 100.0 %
Allowance for credit losses on loans and leases(1,201)(992)
Total loans and leases held for investment, net67,07183,627
Loans held for sale, at fair value
899 1,182
Total loans and leases, net$67,970 $84,809 
(1)Includes specialty finance loans and leases of $3.9 billion and $5.2 billion at December 31, 2024 and December 31, 2023, respectively and warehouse loans of $5.1 billion at December 31, 2023.
(2)Excludes accrued interest receivable of $277 million and $423 million at December 31, 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 is a summary of non-accrual loans held for sale:
        
December 31,
(in millions)20242023
Non-accrual loans held for sale:
Multi-family
$51 $— 
Commercial real estate215 163 
One-to-four family first mortgage57 — 
Acquisition, development, and construction— 1 
Total non-accrual loans held for sale
$323 $164 
The following table presents information regarding the delinquency status of the Company’s loans held for investment at December 31, 2024:
(in millions)Loans 30-89 Days Past DueNon- Accrual Loans
Remaining
Total Loans Receivable
Multi-family$749 $1,755 $31,589 $34,093 
Commercial real estate65 546 8,074 8,685 
One-to-four family first mortgage25 70 5,106 5,201 
Acquisition, development, and construction5 18 3,128 3,151 
Commercial and industrial (1)
110 202 15,064 15,376 
Other11 24 1,731 1,766 
Total$965 $2,615 $64,692 $68,272 
(1)Includes lease financing receivables.

The following table presents information regarding the delinquency status of the Company’s loans held for investment at December 31, 2023:

(in millions)Loans 30-89 Days Past DueNon- Accrual Loans
Remaining
Total Loans Receivable
Multi-family$121 $138 $37,006 $37,265 
Commercial real estate28 128 10,314 10,470 
One-to-four family first mortgage40 95 5,926 6,061 
Acquisition, development, and construction2 2 2,908 2,912 
Commercial and industrial (1)
37 43 25,174 25,254 
Other22 22 2,613 2,657 
Total$250 $428 $83,941 $84,619 
(1)Includes lease financing receivables.
Schedule of Loans Held for Investment by Credit Quality Indicator
The following table presents the credit rating by vintage for our loans held for investment as December 31, 2024:

Term LoansRevolving
Loans		Revolving
Loans Converted to Term Loans
Amortized Cost Basis by Closing Year
(in millions)20242023202220212020Prior To
2020		Total
Multi-family
Pass$17 $700 $6,599 $6,070 $5,203 $3,997 $27 $— $22,613 
Special Mention— 14 688 694 646 795 1 — 2,838 
Substandard2 123 529 868 1,526 3,834 5 — 6,887 
Non-accrual— — 113 144 274 1,224 — — 1,755 
Total Multi-family19 837 7,929 7,776 7,649 9,850 33 — 34,093 
Year to date gross charge-offs— — (28)(34)(42)(204)— — (308)
Commercial Real Estate
Pass$245 $751 $1,614 $987 $575 $2,011 $89 $365 $6,637 
Special Mention— 47 49 30 106 138 — — 370 
Substandard1 12 168 63 162 720 — 6 1,132 
Non-accrual— 36 29 35 1 445 — — 546 
Total Commercial Real Estate246 846 1,860 1,115 844 3,314 89 371 8,685 
Year to date gross charge-offs— (8)(81)(1)(27)(345)— — (462)
One-to-Four Family
Pass$250 $521 $2,431 $859 $178 $609 $80 $2 $4,930 
Substandard1 2 8 2 16 172 — — 201 
Non-accrual— 4 16 10 7 28 5 — 70 
Total One-to-Four Family251 527 2,455 871 201 809 85 2 5,201 
Year to date gross charge-offs— — (1)— — (7)— — (8)
Acquisition, Development and Construction
Pass$297 $547 $139 $119 $1 $57 $1,508 $2 $2,670 
Special Mention— 25 81 39 — — 120 — 265 
Substandard1 19 11 47 — 3 117 — 198 
Non-accrual— 1 5 1 3 2 6 — 18 
Total Acquisition, Development and Construction$298 $592 $236 $206 $4 $62 $1,751 $2 $3,151 
Year to date gross charge-offs— — — — — (4)— — (4)
Commercial and Industrial
Pass$1,267 $2,609 $2,014 $651 $450 $759 $5,554 $1,164 $14,468 
Special Mention17291842111196 206 
Substandard135072727132658 500 
Non-accrual3516098152— 202 
Total Commercial and Industrial$1,300 $2,693 $2,264 $736 $467 $798 $5,940 $1,178 $15,376 
Year to date gross charge-offs(3)(20)(40)(20)(19)(34)— — (136)
Other Loans
Pass$100 $29 $12 $4 $2 $32 $1,441 $121 $1,741 
Special Mention— — — — — — 1 — 1 
Non-accrual— — — — — 5 19 — 24 
Total Other Loans100 29 12 4 2 37 1,461 121 1,766 
Year to date gross charge-offs(2)(4)(4)(1)(1)(8)— — (20)
The following table presents the credit rating by vintage for out loans held for investment as of December 31, 2023:
Term LoansRevolving
Loans		Revolving
Loans Converted to Term Loans
Amortized Cost Basis by Closing Year
(in millions)20232022202120202019Prior 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-family8408,0668,1827,9244,0408,16746—37,265
Year to date gross charge-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
Year to date gross charge-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-accrual1111781837—395
Total One-to-Four Family5272,6439392383261,30078106,061
Year to date gross charge-offs——(1)—(1)(2)——(4)
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
Year to date gross charge-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-accrual2142111211—43
Total Commercial and Industrial9,4283,7671,6951,0197648467,6795625,254
Year to date gross charge-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
Year to date gross charge-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:

December 31,
20242023
Collateral Type
(in millions)Real PropertyOtherReal PropertyOther
Multi-family$1,817 $— $253 $— 
Commercial real estate537 — 256 — 
One-to-four family first mortgage48 — 105 — 
Acquisition, development, and construction17 — — — 
Commercial and industrial— — — 120 
Total collateral-dependent loans held for investment$2,419 $— $614 $120 
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 ExtensionPrincipal ForgivenessTotalPercent of Total Loan class
Year Ended December 31, 2024
Multi-family$2 $— $— $— $2 0.01 %
Commercial real estate8 4 — — 12 0.14 %
One-to-four family first mortgage— 7 8 1 16 0.29 %
Commercial and industrial— 4 — — 4 0.03 %
Total$10 $15 $8 $1 $34 
Year Ended December 31, 2023
Multi-family$122 $— $— $— $122 1.17 %
Commercial real estate102 1 — — 103 0.98 %
One-to-four family first mortgage3 5 6 — 14 0.23 %
Commercial and industrial— 19 2 — 21 0.08 %
Other Consumer— — 2 — 2 0.08 %
Total$227 $25 $10 $— $262 

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

Interest Rate ReductionTerm Extension
Principal Forgiveness
Weighted-average contractual interest rate
FromToWeighted-average Term (in years)
Reduced Amortized Cost Basis
Year Ended December 31, 2024
Multi-family8.08 %6.00 %
Commercial real estate8.13 %6.95 %0.25
One-to-four family first mortgage4.73 %3.80 %11.27$1 
Commercial and industrial7.73 %6.10 %0.7
Other Consumer10.69 %3.71 %2.1
Year Ended December 31, 2023
Multi-family7.45 %6.02 %
Commercial real estate8.83 %4.56 %
One-to-four family first mortgage6.08 %4.79 %
Commercial and industrial8.44 %8.08 %0.58
Other Consumer9.09 %4.82 %

The following table presents the amortized cost basis of the modifications for borrowers experiencing financial difficulty that subsequently defaulted during the periods presented and were within twelve months of the modification date:

(dollars in millions)
Year Ended December 31, 2024Term ExtensionPrincipal ForgivenessCombination - Interest Rate Reduction and Term/Payment Extension/Delay
Commercial real estate$4 $— $— 
One-to-four family first mortgage
211
Commercial and industrial
1——
Total$7 $1 $1 
Year Ended December 31, 2023
One-to-four family first mortgage
$4 $— $4 
Total$4 $— $4 
The following table provides a summary of loan balances at December 31, 2024, which were modified during the prior twelve months, by class of financing receivable and delinquency status:

December 31, 2024
(dollars in millions)Current30 - 89 Past Due90+ Past DueTotal
Multi-family
$2 $— $— $2 
Commercial real estate8 — 4 12 
One-to-four family first mortgage8—816
Commercial and industrial——44
Total$18 $— $16 $34 






The following table provides a summary of loan balances at December 31, 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 modifications, by class of financing receivable and delinquency status:

December 31, 2023
(dollars in millions)Current30 - 89 Past Due90+ Past DueTotal
Commercial real estate$1 $— $— $1 
One-to-four family first mortgage3 — 8 11 
Commercial and industrial39113
Other Consumer11—2
Total$8 $10 $9 $27