XML 37 R28.htm IDEA: XBRL DOCUMENT v3.22.2.2
Loans and Leases (Tables)
 9 Months Ended
Sep. 30, 2022
Receivables [Abstract]  
Composition of Loan and Lease Portfolio

The following table sets forth the composition of the loan portfolio at the dates indicated:

 

 

September 30, 2022

 

 

 

December 31, 2021

 

 

(dollars in millions)

Amount

 

Percent of
Loans
Held for
Investment

 

 

 

Amount

 

Percent of
Loans
Held for
Investment

 

 

Loans and Leases Held for Investment:

 

 

 

 

 

 

 

 

 

 

 

Mortgage Loans:

 

 

 

 

 

 

 

 

 

 

 

Multi-family

$

37,179

 

 

75.98

 

%

 

$

34,603

 

 

75.75

 

%

Commercial real estate

 

6,603

 

 

13.49

 

 

 

 

6,698

 

 

14.66

 

 

One-to-four family

 

123

 

 

0.25

 

 

 

 

160

 

 

0.35

 

 

Acquisition, development, and construction

 

203

 

 

0.41

 

 

 

 

209

 

 

0.46

 

 

Total mortgage loans held for investment (1)

 

44,108

 

 

90.13

 

 

 

 

41,670

 

 

91.22

 

 

Other Loans:

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

3,122

 

 

6.38

 

 

 

 

2,236

 

 

4.89

 

 

Lease financing, net of unearned income
   of $84 and $95 respectively

 

1,697

 

 

3.48

 

 

 

 

1,770

 

 

3.88

 

 

Total commercial and industrial loans (2)

 

4,819

 

 

9.86

 

 

 

 

4,006

 

 

8.77

 

 

Other

 

6

 

 

0.01

 

 

 

 

5

 

 

0.01

 

 

Total other loans held for investment

 

4,825

 

 

9.87

 

 

 

 

4,011

 

 

8.78

 

 

Total loans and leases held for investment (1)

$

48,933

 

 

100.00

 

%

 

$

45,681

 

 

100.00

 

%

Net deferred loan origination costs

 

51

 

 

 

 

 

 

57

 

 

 

 

Allowance for loan and lease losses

 

(218

)

 

 

 

 

 

(199

)

 

 

 

Total loans and leases, net

$

48,766

 

 

 

 

 

$

45,539

 

 

 

 

 

(1)
Excludes accrued interest receivable of $203 million and $199 million at September 30, 2022 and December 31, 2021, respectively, which is included in other assets in the Consolidated Statements of Condition.
(2)
Includes specialty finance loans and leases of $4.2 billion and $3.5 billion, respectively, at September 30, 2022 and December 31, 2021, and other C&I loans of $577 million and $527 million, respectively, at September 30, 2022 and December 31, 2021.
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, 2022:

 

(in millions)

 

Loans
 30-89
Days
Past Due

 

 

Non-
Accrual
Loans

 

 

Loans 90
Days or
More
Delinquent
and Still
Accruing
Interest

 

 

Total
Past Due
Loans

 

 

Current
Loans

 

 

Total
Loans
Receivable

 

Multi-family

 

$

31

 

 

$

13

 

 

$

—

 

 

$

44

 

 

$

37,135

 

 

$

37,179

 

Commercial real estate

 

 

1

 

 

 

28

 

 

 

—

 

 

 

29

 

 

 

6,574

 

 

 

6,603

 

One-to-four family

 

 

7

 

 

 

1

 

 

 

—

 

 

 

8

 

 

 

115

 

 

 

123

 

Acquisition, development, and
   construction

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

203

 

 

 

203

 

Commercial and industrial(1) (2)

 

 

—

 

 

 

3

 

 

 

—

 

 

 

3

 

 

 

4,816

 

 

 

4,819

 

Other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

6

 

 

 

6

 

Total

 

$

39

 

 

$

45

 

 

$

—

 

 

$

84

 

 

$

48,849

 

 

$

48,933

 

 

(1)
Includes $3 million of taxi medallion-related loans that were 90 days or more past due. There were no taxi medallion-related loans that were 30 to 89 days past due.
(2)
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, 2021:

 

(in millions)

 

Loans
 30-89
Days
Past Due

 

 

Non-
Accrual
Loans

 

 

Loans 90
Days or
More
Delinquent
and Still
Accruing
Interest

 

 

Total
Past Due
Loans

 

 

Current
Loans

 

 

Total
Loans
Receivable

 

Multi-family

 

$

57

 

 

$

10

 

 

$

—

 

 

$

67

 

 

$

34,536

 

 

$

34,603

 

Commercial real estate

 

 

2

 

 

 

16

 

 

 

—

 

 

 

18

 

 

 

6,680

 

 

 

6,698

 

One-to-four family

 

 

8

 

 

 

1

 

 

 

—

 

 

 

9

 

 

 

151

 

 

 

160

 

Acquisition, development, and
   construction

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

209

 

 

 

209

 

Commercial and industrial(1) (2)

 

 

—

 

 

 

6

 

 

 

—

 

 

 

6

 

 

 

4,000

 

 

 

4,006

 

Other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5

 

 

 

5

 

Total

 

$

67

 

 

$

33

 

 

$

—

 

 

$

100

 

 

$

45,581

 

 

$

45,681

 

 

(1)
Includes $6 million of taxi medallion-related loans that were 90 days or more past due. There were no taxi medallion-related loans that were 30 to 89 days past due.
Includes lease financing receivables, all of which were current.
Portfolio 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, 2022.

 

 

 

Mortgage Loans

 

 

Other Loans

 

(in millions)

 

Multi-
Family

 

 

Commercial
Real Estate

 

 

One-to-
Four
Family

 

 

Acquisition,
Development,
and
Construction

 

 

Total
Mortgage
Loans

 

 

Commercial
and
Industrial(1)

 

 

Other

 

 

Total
Other
Loans

 

Credit Quality Indicator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

35,688

 

 

$

5,834

 

 

$

107

 

 

$

185

 

 

$

41,814

 

 

$

4,816

 

 

$

6

 

 

$

4,822

 

Special mention

 

 

830

 

 

 

464

 

 

 

8

 

 

 

18

 

 

 

1,320

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

661

 

 

 

305

 

 

 

8

 

 

 

—

 

 

 

974

 

 

 

3

 

 

 

—

 

 

 

3

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

37,179

 

 

$

6,603

 

 

$

123

 

 

$

203

 

 

$

44,108

 

 

$

4,819

 

 

$

6

 

 

$

4,825

 

 

(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, 2021:

 

 

 

Mortgage Loans

 

 

Other Loans

 

(in millions)

 

Multi-
Family

 

 

Commercial
Real Estate

 

 

One-to-
Four
Family

 

 

Acquisition,
Development,
and
Construction

 

 

Total
Mortgage
Loans

 

 

Commercial
and
Industrial(1)

 

 

Other

 

 

Total
Other
Loans

 

Credit Quality Indicator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

33,011

 

 

$

5,874

 

 

$

137

 

 

$

204

 

 

$

39,226

 

 

$

3,959

 

 

$

5

 

 

$

3,964

 

Special mention

 

 

981

 

 

 

643

 

 

 

14

 

 

 

5

 

 

 

1,643

 

 

 

2

 

 

 

—

 

 

 

2

 

Substandard

 

 

611

 

 

 

181

 

 

 

9

 

 

 

—

 

 

 

801

 

 

 

45

 

 

 

—

 

 

 

45

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

34,603

 

 

$

6,698

 

 

$

160

 

 

$

209

 

 

$

41,670

 

 

$

4,006

 

 

$

5

 

 

$

4,011

 

 

Includes lease financing receivables, all of which were classified as Pass.
Schedule of Credit Quality Indicator, Loan Class, and Year of Origination, the Amortized Cost Basis of Loans and Leases

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, 2022.

 

 

 

Vintage Year

 

(in millions)
 Risk Rating Group

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

2018

 

 

Prior To
2018

 

 

Revolving
Loans

 

 

Total

 

Pass

 

$

7,655

 

 

$

9,310

 

 

$

8,727

 

 

$

4,960

 

 

$

3,825

 

 

$

7,354

 

 

$

12

 

 

$

41,843

 

Special Mention

 

 

—

 

 

 

—

 

 

 

95

 

 

 

221

 

 

 

277

 

 

 

728

 

 

 

—

 

 

 

1,321

 

Substandard

 

 

—

 

 

 

—

 

 

 

37

 

 

 

201

 

 

 

130

 

 

 

605

 

 

 

—

 

 

 

973

 

Total mortgage loans

 

$

7,655

 

 

$

9,310

 

 

$

8,859

 

 

$

5,382

 

 

$

4,232

 

 

$

8,687

 

 

$

12

 

 

$

44,137

 

Pass

 

 

757

 

 

 

642

 

 

 

457

 

 

 

423

 

 

 

78

 

 

 

223

 

 

 

2,263

 

 

 

4,843

 

Special Mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1

 

 

 

2

 

 

 

1

 

 

 

—

 

 

 

4

 

Total other loans

 

 

757

 

 

 

642

 

 

 

457

 

 

 

424

 

 

 

80

 

 

 

224

 

 

 

2,263

 

 

 

4,847

 

Total

 

$

8,412

 

 

$

9,952

 

 

$

9,316

 

 

$

5,806

 

 

$

4,312

 

 

$

8,911

 

 

$

2,275

 

 

$

48,984

 
Summary of Collateral-Dependent Loans Held for Investment by Collateral Type

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, 2022:

 

 

 

Collateral Type

 

(in millions)

 

Real
Property

 

 

Other

 

Multi-family

 

$

13

 

 

$

—

 

Commercial real estate

 

 

43

 

 

 

—

 

One-to-four family

 

 

—

 

 

 

—

 

Acquisition, development, and construction

 

 

—

 

 

 

—

 

Commercial and industrial

 

 

—

 

 

 

4

 

Other

 

 

—

 

 

 

—

 

Total collateral-dependent loans held for investment

 

 

56

 

 

 

4

 
Information Regarding Troubled Debt Restructurings

The following table presents information regarding the Company's TDRs as of September 30, 2022 and December 31, 2021:

 

 

 

 

September 30, 2022

 

 

December 31, 2021

 

(in millions)

 

 

Accruing

 

 

 

Non-
Accrual

 

 

 

Total

 

 

Accruing

 

 

Non-
Accrual

 

 

Total

 

Loan Category:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Multi-family

 

$

 

—

 

 

$

 

6

 

 

$

 

6

 

$

 

—

 

$

 

7

 

$

 

7

 

Commercial real estate

 

 

 

16

 

 

 

 

19

 

 

 

 

35

 

 

 

16

 

 

 

—

 

 

 

16

 

One-to-four family

 

 

 

—

 

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Acquisition, development, and
   construction

 

 

 

—

 

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial and industrial (1)

 

 

 

—

 

 

 

 

4

 

 

 

 

4

 

 

 

—

 

 

 

6

 

 

 

6

 

Total

 

$

 

16

 

 

$

 

29

 

 

$

 

45

 

$

 

16

 

$

 

13

 

$

 

29

 

 

 

(1) Includes $4 million and $6 million of taxi medallion-related loans at September 30, 2022 and December 31, 2021, respectively.
Financial Effects of Troubled Debt Restructurings

The financial effects of the Company’s TDRs for the three months ended September 30, 2022 and 2021 are summarized as follows:

 

 

 

For the Three Months Ended September 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average
Interest Rate

 

 

 

 

 

 

 

(dollars in millions)

 

Number
of Loans

 

 

Pre-
Modification
Recorded
Investment

 

 

Post-
Modification
Recorded
Investment

 

 

Pre-
Modification

 

Post-
Modification

 

 

Charge-
off
Amount

 

 

Capitalized
Interest

 

Loan Category:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

 

—

 

 

$

—

 

 

$

—

 

 

0

%

0

%

 

$

—

 

 

$

—

 

 

 

 

For the Three Months Ended September 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average
Interest Rate

 

 

 

 

 

 

 

(dollars in millions)

 

Number
of Loans

 

 

Pre-
Modification
Recorded
Investment

 

 

Post-
Modification
Recorded
Investment

 

 

Pre-
Modification

 

Post-
Modification

 

 

Charge-
off
Amount

 

 

Capitalized
Interest

 

Loan Category:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

 

2

 

 

$

4

 

 

$

4

 

 

6.00

%

3.55

%

 

$

—

 

 

$

—

 

 

The financial effects of the Company’s TDRs for the nine months ended September 30, 2022 and 2021 are summarized as follows:

 

 

 

For the Nine Months Ended September 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average
Interest Rate

 

 

 

 

 

 

 

(dollars in millions)

 

Number
of Loans

 

 

Pre-
Modification
Recorded
Investment

 

 

Post-
Modification
Recorded
Investment

 

 

Pre-
Modification

 

 

Post-
Modification

 

 

Charge-
off
Amount

 

 

Capitalized
Interest

 

Loan Category:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

 

2

 

 

$

22

 

 

$

19

 

 

 

6.00

 

%

 

4.02

 

%

$

3

 

 

$

—

 

 

 

 

For the Nine Months Ended September 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average
Interest Rate

 

 

 

 

 

 

 

(dollars in millions)

 

Number
of Loans

 

 

Pre-
Modification
Recorded
Investment

 

 

Post-
Modification
Recorded
Investment

 

 

Pre-
Modification

 

 

Post-
Modification

 

 

Charge-
off
Amount

 

 

Capitalized
Interest

 

Loan Category:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

 

2

 

 

$

4

 

 

$

4

 

 

 

6.00

 

%

 

3.55

 

%

$

—

 

 

$

—