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Loans Held for Investment (Tables)
 12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Schedule of components of loans held for investment
The following table presents the composition of the loan portfolio as of the dates indicated:
 December 31,
(Dollars in thousands)20212020
Investor loans secured by real estate
CRE non-owner-occupied$2,771,137 $2,675,085 
Multifamily5,891,934 5,171,356 
Construction and land277,640 321,993 
SBA secured by real estate46,917 57,331 
Total investor loans secured by real estate8,987,628 8,225,765 
Business loans secured by real estate
CRE owner-occupied2,251,014 2,114,050 
Franchise real estate secured380,381 347,932 
SBA secured by real estate69,184 79,595 
Total business loans secured by real estate2,700,579 2,541,577 
Commercial loans
Commercial and industrial2,103,112 1,768,834 
Franchise non-real estate secured392,576 444,797 
SBA non-real estate secured11,045 15,957 
Total commercial loans2,506,733 2,229,588 
Retail loans
Single family residential95,292 232,574 
Consumer5,665 6,929 
Total retail loans100,957 239,503 
Gross loans held for investment (1)
14,295,897 13,236,433 
Allowance for credit losses for loans held for investment(197,752)(268,018)
Loans held for investment, net$14,098,145 $12,968,415 
Total unfunded loan commitments$2,507,911 $1,947,250 
Loans held for sale, at lower of cost or fair value$10,869 $601 
____________________________________________________
(1) Includes net deferred origination fees of $3.5 million and $2.6 million, and unaccreted fair value net purchase discounts of $77.1 million and $113.8 million as of December 31, 2021 and December 31, 2020 respectively.
Summary of loan portfolio by the company's internal risk grading system
The following table stratifies the loans held for investment portfolio by the Company’s internal risk grading, and by year of origination, as of December 31, 2021:
Term Loans by Vintage
(Dollars in thousands)20212020201920182017PriorRevolvingRevolving Converted to Term During the PeriodTotal
December 31, 2021
Investor loans secured by real estate
CRE non-owner-occupied
Pass$708,560 $269,944 $393,097 $387,923 $218,388 $730,736 $9,353 $— $2,718,001 
Special mention— — 16,166 7,682 — — — — 23,848 
Substandard— — 25,777 — — 2,998 513 — 29,288 
Multifamily
Pass2,260,708 952,127 1,199,505 444,904 479,029 554,067 286 — 5,890,626 
Substandard— — — 543 — 765 — — 1,308 
Construction and land
Pass119,532 97,721 40,556 12,415 3,857 3,559 — — 277,640 
SBA secured by real estate
Pass130 497 6,259 9,074 12,070 9,198 — — 37,228 
Special mention— — — 957 — 544 — — 1,501 
Substandard— — — 2,343 3,679 2,166 — — 8,188 
Total investor loans secured by real estate$3,088,930 $1,320,289 $1,681,360 $865,841 $717,023 $1,304,033 $10,152 $— $8,987,628 
Business loans secured by real estate
CRE owner-occupied
Pass$853,044 $273,469 $287,249 $161,636 $187,130 $464,271 $6,738 $292 $2,233,829 
Substandard— — 2,553 6,074 2,966 5,592 — — 17,185 
Franchise real estate secured
Pass156,381 36,335 55,091 40,047 56,288 34,878 1,361 — 380,381 
SBA secured by real estate
Pass6,379 2,364 7,331 9,125 10,734 24,627 — — 60,560 
Special mention— — — — — 62 — — 62 
Substandard— — — 2,062 2,690 3,810 — — 8,562 
Total loans secured by business real estate$1,015,804 $312,168 $352,224 $218,944 $259,808 $533,240 $8,099 $292 $2,700,579 
Commercial loans
Commercial and industrial
Pass$425,683 $79,635 $200,234 $117,471 $123,345 $70,789 $1,032,053 $3,371 $2,052,581 
Special mention— — 146 — — 152 14,814 178 15,290 
Substandard1,772 — 14 2,683 863 1,150 27,684 1,075 35,241 
Franchise non-real estate secured
Pass163,865 23,943 85,206 45,061 23,672 31,163 — — 372,910 
Substandard— — 1,589 3,627 13,346 1,104 — — 19,666 
SBA non-real estate secured
Pass474 564 1,292 666 2,806 2,148 — — 7,950 
Special mention— — 681 114 — — — — 795 
Substandard— — 76 339 685 547 653 — 2,300 
Total commercial loans$591,794 $104,142 $289,238 $169,961 $164,717 $107,053 $1,075,204 $4,624 $2,506,733 
Term Loans by Vintage
(Dollars in thousands)20212020201920182017PriorRevolvingRevolving Converted to Term During the PeriodTotal
December 31, 2021
Retail loans
Single family residential
Pass$313 $211 $— $32 $2,008 $68,759 $23,920 — $95,243 
Substandard— — — — — 49 — — 49 
Consumer loans
Pass11 28 49 19 11 1,394 4,113 — 5,625 
Substandard— — 5 — — 35 — — 40 
Total retail loans$324 $239 $54 $51 $2,019 $70,237 $28,033 $— $100,957 
Totals gross loans$4,696,852 $1,736,838 $2,322,876 $1,254,797 $1,143,567 $2,014,563 $1,121,488 $4,916 $14,295,897 

The following table stratifies the loans held for investment portfolio by the Company’s internal risk grading, and by year of origination, as of December 31, 2020:

Term Loans by Vintage
(Dollars in thousands)20202019201820172016PriorRevolvingRevolving Converted to Term During the PeriodTotal
December 31, 2020
Investor loans secured by real estate
CRE non-owner-occupied
Pass$265,901 $541,994 $440,351 $287,580 $279,238 $791,477 $11,114 $— $2,617,655 
Special mention— — 6,669 437 2,516 29,738 — — 39,360 
Substandard— 9,732 2,045 — 516 5,218 559 — 18,070 
Multifamily
Pass1,027,644 1,677,716 899,123 665,939 354,859 531,287 420 — 5,156,988 
Special mention— 1,758 2,630 — 8,649 — — — 13,037 
Substandard— — — 559 772 — — — 1,331 
Construction and land
Pass57,309 144,759 73,313 18,625 20,531 6,672 784 — 321,993 
SBA secured by real estate
Pass— 8,306 9,029 13,418 6,305 7,696 — — 44,754 
Special mention496 1,032 1,159 1,000 373 306 — — 4,366 
Substandard— 1,220 2,959 1,091 400 2,541 — — 8,211 
Total investor loans secured by real estate$1,351,350 $2,386,517 $1,437,278 $988,649 $674,159 $1,374,935 $12,877 $— $8,225,765 
Term Loans by Vintage
(Dollars in thousands)20202019201820172016PriorRevolvingRevolving Converted to Term During the PeriodTotal
December 31, 2020
Business loans secured by real estate
CRE owner-occupied
Pass$293,324 $409,758 $332,672 $327,475 $225,098 $469,704 $14,268 $246 $2,072,545 
Special mention2,190 15,917 3,802 — 4,153 201 — — 26,263 
Substandard— — 3,636 4,214 1,169 5,973 250 — 15,242 
Franchise real estate secured
Pass44,413 81,438 66,241 96,999 24,673 27,020 — — 340,784 
Special mention878 1,650 2,652 — — — — — 5,180 
Substandard— — — — 1,968 — — — 1,968 
Doubtful and loss— — — — — — — — — 
SBA secured by real estate
Pass3,253 7,637 12,608 16,058 8,488 23,624 — — 71,668 
Special mention— — 1,200 — 137 — — — 1,337 
Substandard— — 184 1,987 1,376 3,043 — — 6,590 
Total loans secured by business real estate$344,058 $516,400 $422,995 $446,733 $267,062 $529,565 $14,518 $246 $2,541,577 
Commercial loans
Commercial and industrial
Pass$127,082 $260,368 $159,001 $210,163 $51,800 $82,291 $801,752 $9,315 $1,701,772 
Special mention735 — 2,331 185 1,320 243 17,890 37 22,741 
Substandard— 3,310 2,737 610 1,333 2,446 32,858 1,027 44,321 
Franchise non-real estate secured
Pass27,607 164,025 94,494 46,174 40,829 27,745 1,361 502 402,737 
Special mention— 7,267 2,037 230 480 2,321 — — 12,335 
Substandard— 6,690 3,706 18,425 700 204 — — 29,725 
SBA non-real estate secured
Pass407 2,257 1,558 2,674 610 4,449 — 259 12,214 
Special mention— — — 1,574 — — — — 1,574 
Substandard— 83 357 282 340 400 707 — 2,169 
Total commercial loans$155,831 $444,000 $266,221 $280,317 $97,412 $120,099 $854,568 $11,140 $2,229,588 
Retail loans
Single family residential
Pass$10,794 $7,714 $13,982 $14,039 $33,968 $124,248 $27,172 — $231,917 
Substandard— — — — — 657 — — 657 
Consumer loans
Pass52 112 37 25 2 3,145 3,508 — 6,881 
Substandard— 7 — — — 41 — — 48 
Total retail loans$10,846 $7,833 $14,019 $14,064 $33,970 $128,091 $30,680 $— $239,503 
Totals gross loans$1,862,085 $3,354,750 $2,140,513 $1,729,763 $1,072,603 $2,152,690 $912,643 $11,386 $13,236,433 
The following tables present PD bands for commercial real estate and commercial loan segments of the loan portfolio as of the dates indicated.

Commercial Real Estate Term Loans by Vintage
(Dollars in thousands)20212020201920182017PriorRevolvingRevolving Converted to Term During the PeriodTotal
December 31, 2021
Investor loans secured by real estate
CRE non-owner-occupied
0% - 5.00%$654,823 $233,718 $375,691 $392,892 $193,762 $682,357 $4,022 $— $2,537,265 
>5.00% - 10.00%37,931 22,965 9,174 2,713 23,559 23,707 5,331 — 125,380 
Greater than 10%15,806 13,261 50,175 — 1,067 27,670 513 — 108,492 
Multifamily
0% - 5.00%2,242,420 929,964 1,174,859 442,410 470,107 548,156 286 — 5,808,202 
>5.00% - 10.00%13,226 7,393 24,646 1,807 8,922 6,676 — — 62,670 
Greater than 10%5,062 14,770 — 1,230 — — — — 21,062 
Construction and Land
0% - 5.00%110,545 81,029 23,030 8,321 3,857 3,559 — — 230,341 
>5.00% - 10.00%5,500 14,264 9,931 4,094 — — — — 33,789 
Greater than 10%3,487 2,428 7,595 — — — — — 13,510 
SBA secured by real estate
0% - 5.00%130 497 6,259 12,374 15,149 11,572 — — 45,981 
>5.00% - 10.00%— — — — — — — — — 
Greater than 10%— — — — 600 336 — — 936 
Total investor loans secured by real estate$3,088,930 $1,320,289 $1,681,360 $865,841 $717,023 $1,304,033 $10,152 $— $8,987,628 
Commercial Real Estate Term Loans by Vintage
(Dollars in thousands)20212020201920182017PriorRevolvingRevolving Converted to Term During the PeriodTotal
December 31, 2021
Business loans secured by real estate
CRE owner-occupied
0% - 5.00%$853,044 $273,469 $287,249 $161,635 $187,130 $456,170 $6,738 $292 $2,225,727 
>5.00% - 10.00%— — — — — 8,101 — — 8,101 
Greater than 10%— — 2,553 6,075 2,966 5,592 — — 17,186 
Franchise real estate secured
0% - 5.00%154,009 36,335 55,091 37,559 53,519 33,635 1,361 — 371,509 
>5.00% - 10.00%843 — — 2,488 2,769 1,243 — — 7,343 
Greater than 10%1,529 — — — — — — — 1,529 
SBA secured by real estate
0% - 5.00%6,379 2,364 6,040 8,986 8,718 16,947 — — 49,434 
>5.00% - 10.00%— — 1,291 139 2,006 7,681 — — 11,117 
Greater than 10%— — — 2,062 2,700 3,871 — — 8,633 
Total business loans secured by real estate$1,015,804 $312,168 $352,224 $218,944 $259,808 $533,240 $8,099 $292 $2,700,579 
Commercial loans
Commercial and industrial
0% - 5.00%$417,780 $77,755 $192,478 $114,593 $120,869 $67,194 $680,662 $3,380 $1,674,711 
>5.00% - 10.00%8,349 1,880 7,757 2,878 2,476 3,595 375,829 341 403,105 
Greater than 10%1,326 — 159 2,683 863 1,302 18,060 903 25,296 
Franchise non-real estate secured
0% - 5.00%155,064 18,370 64,503 39,389 21,483 21,524 — — 320,333 
>5.00% - 10.00%8,801 5,573 20,703 5,672 2,189 8,840 — — 51,778 
Greater than 10%— — 1,589 3,627 13,346 1,903 — — 20,465 
SBA not secured by real estate
0% - 5.00%474 564 1,088 370 732 1,636 — — 4,864 
>5.00% - 10.00%— — 205 410 2,074 512 — — 3,201 
Greater than 10%— — 756 339 685 547 653 — 2,980 
Total commercial loans$591,794 $104,142 $289,238 $169,961 $164,717 $107,053 $1,075,204 $4,624 $2,506,733 
Commercial Real Estate Term Loans by Vintage
(Dollars in thousands)20202019201820172016PriorRevolvingRevolving Converted to Term During the PeriodTotal
December 31, 2020
Investor loans secured by real estate
CRE non-owner-occupied
0% - 5.00%$261,885 $491,522 $431,791 $266,942 $254,527 $763,101 $11,114 $— $2,480,882 
>5.00% - 10.00%4,016 34,360 5,794 10,558 16,961 33,734 — — 105,423 
Greater than 10%— 25,844 11,480 10,517 10,782 29,598 559 — 88,780 
Multifamily
0% - 5.00%950,089 1,610,011 878,233 634,268 349,549 516,452 — — 4,938,602 
>5.00% - 10.00%38,892 59,500 12,181 19,751 10,917 13,606 — — 154,847 
Greater than 10%38,663 9,963 11,339 12,479 3,814 1,229 420 — 77,907 
Construction and Land
0% - 5.00%55,785 40,860 4,604 11,238 — 6,412 784 — 119,683 
>5.00% - 10.00%1,123 41,046 9,197 3,601 — 260 — — 55,227 
Greater than 10%401 62,853 59,512 3,786 20,531 — — — 147,083 
SBA secured by real estate
0% - 5.00%496 10,400 12,558 14,497 7,078 10,032 — — 55,061 
>5.00% - 10.00%— — — 1,012 — — — — 1,012 
Greater than 10%— 158 589 — — 511 — — 1,258 
Total investor loans secured by real estate$1,351,350 $2,386,517 $1,437,278 $988,649 $674,159 $1,374,935 $12,877 $— $8,225,765 
Business loans secured by real estate
CRE owner-occupied
0% - 5.00%$286,745 $367,269 $274,512 $295,809 $202,282 $422,614 $10,393 $246 $1,859,870 
>5.00% - 10.00%8,769 42,310 60,222 28,421 23,875 44,855 3,875 — 212,327 
Greater than 10%— 16,096 5,376 7,459 4,263 8,409 250 — 41,853 
Franchise real estate secured
0% - 5.00%37,262 79,926 65,619 96,672 19,046 22,927 — — 321,452 
>5.00% - 10.00%7,587 1,650 3,274 327 5,627 4,093 — — 22,558 
Greater than 10%442 1,512 — — 1,968 — — — 3,922 
SBA secured by real estate
0% - 5.00%3,253 7,637 11,840 15,069 5,707 18,742 — — 62,248 
>5.00% - 10.00%— — 768 989 2,780 4,882 — — 9,419 
Greater than 10%— — 1,384 1,987 1,514 3,043 — — 7,928 
Total business loans secured by real estate$344,058 $516,400 $422,995 $446,733 $267,062 $529,565 $14,518 $246 $2,541,577 
Commercial loans
Commercial and industrial
0% - 5.00%$70,233 $205,395 $99,178 $193,046 $36,957 $62,682 $394,124 $5,051 $1,066,666 
>5.00% - 10.00%49,883 50,743 35,813 13,427 12,922 13,948 322,123 2,469 501,328 
Greater than 10%7,701 7,540 29,078 4,485 4,574 8,350 136,253 2,859 200,840 
Franchise non-real estate secured
0% - 5.00%21,409 145,392 88,171 38,010 21,956 23,479 — 502 338,919 
>5.00% - 10.00%6,198 15,754 5,454 8,164 18,415 3,626 — — 57,611 
Greater than 10%— 16,836 6,612 18,655 1,638 3,165 1,361 — 48,267 
SBA not secured by real estate
0% - 5.00%407 2,257 910 1,078 441 2,782 — — 7,875 
>5.00% - 10.00%— — 648 1,596 169 1,652 — 259 4,324 
Greater than 10%— 83 357 1,856 340 415 707 — 3,758 
Total commercial loans$155,831 $444,000 $266,221 $280,317 $97,412 $120,099 $854,568 $11,140 $2,229,588 
A significant driver in the ACL for loans in the investor real estate secured and business real estate secured segments is the loan-to-value ratio (“LTV”). The following tables summarize the amortized cost of loans in these segments by current estimated LTV and by year of origination as of the dates indicated:
Term Loans by Vintage
(Dollars in thousands)20212020201920182017PriorRevolvingRevolving Converted to Term During the PeriodTotal
December 31, 2021
Investor loans secured by real estate
CRE non-owner-occupied
55% and below$366,617 $141,752 $184,553 $171,879 $130,679 $533,990 $9,866 $— $1,539,336 
>55-65%277,092 91,539 155,908 86,933 79,043 172,713 — — 863,228 
>65-75%64,619 36,653 58,350 131,975 5,662 25,446 — — 322,705 
Greater than 75%232 — 36,229 4,818 3,004 1,585 — — 45,868 
Multifamily
55% and below397,562 226,129 285,520 181,826 197,276 279,880 286 — 1,568,479 
>55-65%932,115 416,712 510,840 219,710 185,773 198,802 — — 2,463,952 
>65-75%906,910 306,272 391,686 41,174 94,142 67,964 — — 1,808,148 
Greater than 75%24,121 3,014 11,459 2,737 1,838 8,186 — — 51,355 
Construction and land
55% and below116,575 95,293 26,501 4,172 3,857 3,559 — — 249,957 
>55-65%2,957 2,428 5,095 6,650 — — — — 17,130 
>65-75%— — 8,960 1,593 — — — — 10,553 
Greater than 75%— — — — — — — — — 
SBA secured by real estate
55% and below— — — 632 693 2,159 — — 3,484 
>55-65%— — 2,399 1,950 1,903 3,595 — — 9,847 
>65-75%130 — 2,767 3,630 4,444 4,346 — — 15,317 
Greater than 75%— 497 1,093 6,162 8,709 1,808 — — 18,269 
Total investor loans secured by real estate$3,088,930 $1,320,289 $1,681,360 $865,841 $717,023 $1,304,033 $10,152 $— $8,987,628 
Business loan secured by real estate
CRE owner-occupied
55% and below$400,857 $95,504 $107,766 $87,779 $134,184 $347,926 $6,738 $292 $1,181,046 
>55-65%214,798 67,639 60,192 32,283 35,513 80,347 — — 490,772 
>65-75%188,022 78,589 112,217 41,874 12,241 25,460 — — 458,403 
Greater than 75%49,367 31,737 9,627 5,774 8,158 16,130 — — 120,793 
Franchise real estate secured
55% and below32,189 16,889 8,954 12,469 9,163 14,552 1,361 — 95,577 
>55-65%47,521 3,603 10,270 7,442 4,749 9,349 — — 82,934 
>65-75%39,409 13,991 32,743 11,289 29,641 9,768 — — 136,841 
Greater than 75%37,262 1,852 3,124 8,847 12,735 1,209 — — 65,029 
SBA secured by real estate
55% and below4,333 590 1,821 1,123 4,512 14,850 — — 27,229 
>55-65%452 555 199 954 1,524 8,497 — — 12,181 
>65-75%1,082 328 3,478 5,208 4,853 2,793 — — 17,742 
Greater than 75%512 891 1,833 3,902 2,535 2,359 — — 12,032 
Total business loans secured by real estate$1,015,804 $312,168 $352,224 $218,944 $259,808 $533,240 $8,099 $292 $2,700,579 
Term Loans by Vintage
(Dollars in thousands)20202019201820172016PriorRevolvingRevolving Converted to Term During the PeriodTotal
December 31, 2020
Investor loans secured by real estate
CRE non-owner-occupied
55% and below$138,007 $229,272 $182,385 $136,355 $189,848 $588,230 $11,114 $— $1,475,211 
>55-65%101,434 217,210 92,015 130,024 78,470 204,161 559 — 823,873 
>65-75%26,460 102,494 169,878 18,876 13,952 29,506 — — 361,166 
Greater than 75%— 2,750 4,787 2,762 — 4,536 — — 14,835 
Multifamily
55% and below218,833 345,519 294,464 233,997 84,530 269,906 — — 1,447,249 
>55-65%381,737 731,408 381,282 215,170 152,066 189,151 420 — 2,051,234 
>65-75%427,074 583,078 215,389 215,452 127,684 66,457 — — 1,635,134 
Greater than 75%— 19,469 10,618 1,879 — 5,773 — — 37,739 
Construction and land
55% and below57,309 105,308 36,068 18,625 20,531 6,672 784 — 245,297 
>55-65%— 36,113 23,770 — — — — — 59,883 
>65-75%— 3,338 13,475 — — — — — 16,813 
Greater than 75%— — — — — — — — — 
SBA secured by real estate
55% and below— 2,066 649 673 317 778 — — 4,483 
>55-65%— 2,427 1,639 4,008 879 4,354 — — 13,307 
>65-75%— 3,897 3,882 3,482 4,519 1,884 — — 17,664 
Greater than 75%496 2,168 6,977 7,346 1,363 3,527 — — 21,877 
Total investor loans secured by real estate$1,351,350 $2,386,517 $1,437,278 $988,649 $674,159 $1,374,935 $12,877 $— $8,225,765 
Business loan secured by real estate
CRE owner-occupied
55% and below$96,803 $160,605 $157,868 $179,791 $131,795 $328,188 $14,518 $246 $1,069,814 
>55-65%72,044 91,028 98,176 94,712 65,120 90,548 — — 511,628 
>65-75%71,692 152,920 79,106 43,832 31,303 31,493 — — 410,346 
Greater than 75%54,975 21,122 4,960 13,354 2,202 25,649 — — 122,262 
Franchise real estate secured
55% and below20,801 10,470 13,864 20,956 9,189 16,213 — — 91,493 
>55-65%2,689 9,955 16,001 19,102 6,855 2,333 — — 56,935 
>65-75%19,349 51,719 23,258 9,153 10,597 7,236 — — 121,312 
Greater than 75%2,452 10,944 15,770 47,788 — 1,238 — — 78,192 
SBA secured by real estate
55% and below1,825 1,626 5,332 5,495 3,615 13,582 — — 31,475 
>55-65%246 513 1,795 1,094 3,586 5,448 — — 12,682 
>65-75%264 3,142 1,515 3,968 1,586 4,043 — — 14,518 
Greater than 75%918 2,356 5,350 7,488 1,214 3,594 — — 20,920 
Total business loans secured by real estate$344,058 $516,400 $422,995 $446,733 $267,062 $529,565 $14,518 $246 $2,541,577 
The following tables present FICO bands for the retail segment of the loan portfolio as of the dates indicated:
Term Loans by Vintage
(Dollars in thousands)20212020201920182017PriorRevolvingRevolving Converted to Term During the PeriodTotal
December 31, 2021
Retail loans
Single family residential
Greater than 740$313 $211 $— $— $1,446 $40,605 $17,553 $— $60,128 
>680 - 740— — — 32 103 7,602 5,579 — 13,316 
>580 - 680— — — — 450 6,989 756 — 8,195 
Less than 580— — — — 9 13,612 32 — 13,653 
Consumer loans
Greater than 7407 28 32 19 9 944 2,196 — 3,235 
>680 - 7404 — 17 — 2 431 1,859 — 2,313 
>580 - 680— — 5 — — 54 42 — 101 
Less than 580— — — — — — 16 — 16 
Total retail loans$324 $239 $54 $51 $2,019 $70,237 $28,033 $— $100,957 

December 31, 2020
Retail loans
Single family residential
Greater than 740$10,794 $6,531 $12,679 $8,846 $28,222 $81,838 $19,588 $— $168,498 
>680 - 740— 1,183 1,303 4,732 2,614 15,624 6,685 — 32,141 
>580 - 680— — — 461 3,132 7,473 864 — 11,930 
Less than 580— — — — — 19,970 35 — 20,005 
Consumer loans
Greater than 74052 69 31 22 1 2,609 2,198 — 4,982 
>680 - 740— 35 6 3 — 469 1,227 — 1,740 
>580 - 680— 15 — — 1 95 56 — 167 
Less than 580— — — — — 13 27 — 40 
Total retail loans$10,846 $7,833 $14,019 $14,064 $33,970 $128,091 $30,680 $— $239,503 
Schedule of delinquencies in the company's loan portfolio
The following tables stratify loans held for investment by delinquencies in the Company’s loan portfolio as of the periods indicated:
Days Past Due
(Dollars in thousands)Current30-5960-8990+Total
December 31, 2021
Investor loans secured by real estate
CRE non-owner-occupied$2,760,882 $— $— $10,255 $2,771,137 
Multifamily5,890,704 1,230 — — 5,891,934 
Construction and land277,640 — — — 277,640 
SBA secured by real estate46,580 — — 337 46,917 
Total investor loans secured by real estate8,975,806 1,230 — 10,592 8,987,628 
Business loans secured by real estate
CRE owner-occupied2,246,062 — — 4,952 2,251,014 
Franchise real estate secured380,381 — — — 380,381 
SBA secured by real estate68,743 — — 441 69,184 
Total business loans secured by real estate2,695,186 — — 5,393 2,700,579 
Commercial loans
Commercial and industrial2,101,558 92 — 1,462 2,103,112 
Franchise non-real estate secured392,576 — — — 392,576 
SBA not secured by real estate10,319 73 — 653 11,045 
Total commercial loans2,504,453 165 — 2,115 2,506,733 
Retail loans
Single family residential95,292 — — — 95,292 
Consumer loans5,665 — — — 5,665 
Total retail loans100,957 — — — 100,957 
Totals$14,276,402 $1,395 $— $18,100 $14,295,897 

December 31, 2020
Investor loans secured by real estate
CRE non-owner-occupied$2,674,328 $— $— $757 $2,675,085 
Multifamily5,171,355 1 — — 5,171,356 
Construction and land321,993 — — — 321,993 
SBA secured by real estate56,074 — — 1,257 57,331 
Total investor loans secured by real estate8,223,750 1 — 2,014 8,225,765 
Business loans secured by real estate
CRE owner-occupied2,108,746 — — 5,304 2,114,050 
Franchise real estate secured347,932 — — — 347,932 
SBA secured by real estate78,036 486 — 1,073 79,595 
Total business loans secured by real estate2,534,714 486 — 6,377 2,541,577 
Commercial loans
Commercial and industrial1,765,451 428 57 2,898 1,768,834 
Franchise non-real estate secured444,797 — — — 444,797 
SBA not secured by real estate14,912 338 — 707 15,957 
Total commercial loans2,225,160 766 57 3,605 2,229,588 
Retail loans
Single family residential232,559 15 — — 232,574 
Consumer loans6,928 1 — — 6,929 
Total retail loans239,487 16 — — 239,503 
Totals$13,223,111 $1,269 $57 $11,996 $13,236,433 
Schedule of acquired loans classified as PCD
The following table reconciles the par value, or initial amortized cost, of PCD loans acquired in the Opus acquisition as of the date of the acquisition with the purchase price (or initial fair value of the loans):

June 1, 2020
(Dollars in thousands)Investor Loans Secured by Real EstateBusiness Loans Secured by Real EstateCommercial LoansRetail LoansTotal
Par value (unpaid principal balance)$704,441 $105,578 $80,184 $6,280 $896,483 
Allowance for credit losses (1)
(13,786)(4,083)(25,635)(381)(43,885)
(Discount) premium related to factors other than credit(8,696)(2,512)138 (294)(11,364)
Purchase price (initial fair value)$681,959 $98,983 $54,687 $5,605 $841,234 
______________________________
(1) The initial gross ACL determined for PCD loans was $43.9 million as of the acquisition date. Of this amount, approximately $22.7 million relates to net uncollectable balances such as loans that were fully or partially charged off prior to acquisition. Therefore, the net impact to the ACL related to PCD loans was an increase of $21.2 million.
Summary of nonaccrual loans
The following tables provide a summary of nonaccrual loans as of the dates indicated:
Nonaccrual Loans (1)
(Dollars in thousands)Collateral Dependent LoansACLNon-Collateral Dependent LoansACLTotal Nonaccrual LoansNonaccrual Loans with No ACL
December 31, 2021
Investor loans secured by real estate
CRE non-owner-occupied$10,255 $1,455 $— $— $10,255 $2,640 
SBA secured by real estate937 — — — 937 937 
Total investor loans secured by real estate11,192 1,455 — — 11,192 3,577 
Business loans secured by real estate
CRE owner-occupied4,952 — — — 4,952 4,952 
SBA secured by real estate589 — — — 589 589 
Total business loans secured by real estate5,541 — — — 5,541 5,541 
Commercial loans
Commercial and industrial1,462 — 336 — 1,798 1,797 
Franchise non-real estate secured— — 12,079 — 12,079 12,079 
SBA non-real estate secured653 — — — 653 653 
Total commercial loans2,115 — 12,415 — 14,530 14,529 
Retail loans
Single family residential10 — — — 10 10 
Total retail loans10 — — — 10 10 
Totals nonaccrual loans$18,858 $1,455 $12,415 $— $31,273 $23,657 
December 31, 2020
Investor loans secured by real estate
CRE non-owner-occupied$2,792 $— $— $— $2,792 $2,792 
SBA secured by real estate1,257 — — — 1,257 1,257 
Total investor loans secured by real estate4,049 — — — 4,049 4,049 
Business loans secured by real estate
CRE owner-occupied6,083 — — — 6,083 6,083 
SBA secured by real estate1,143 — — — 1,143 1,143 
Total business loans secured by real estate7,226 — — — 7,226 7,226 
Commercial loans
Commercial and industrial2,040 — 1,934 126 3,974 2,733 
Franchise non-real estate secured— — 13,238 — 13,238 13,238 
SBA non-real estate secured707 — — — 707 707 
Total commercial loans2,747 — 15,172 126 17,919 16,678 
Retail loans
Single family residential15 — — — 15 15 
Total retail loans15 — — — 15 15 
Totals nonaccrual loans$14,037 $— $15,172 $126 $29,209 $27,968 
______________________________
(1) The ACL for nonaccrual loans is determined based on a discounted cash flow methodology unless the loan is considered collateral dependent. The ACL for collateral dependent loans is determined based on the estimated fair value of the underlying collateral.
Schedule of collateral dependent loans by collateral type
The following tables summarize collateral dependent loans by collateral type as of the dates indicated:
December 31, 2021
(Dollars in thousands)Office PropertiesIndustrial PropertiesRetail PropertiesLand PropertiesHotel PropertiesResidential PropertiesBusiness AssetsTotal
Investor loan secured by real estate
CRE non-owner-occupied$— $— $513 $— $9,742 $— $— $10,255 
SBA secured by real estate— — — — 937 — — 937 
Total investor loans secured by real estate— — 513 — 10,679 — — 11,192 
Business loans secured by real estate
CRE owner-occupied— — — 4,952 — — — 4,952 
SBA secured by real estate148 441 — — — — — 589 
Total business loans secured by real estate148 441 — 4,952 — — — 5,541 
Commercial loans
Commercial and industrial— — — 245 — — 1,217 1,462 
SBA non-real estate secured— — — — — — 653 653 
Total commercial loans— — — 245 — — 1,870 2,115 
Retail loans
Single family residential— — — — — 10 — 10 
Total retail loans— — — — — 10 — 10 
Totals collateral dependent loans$148 $441 $513 $5,197 $10,679 $10 $1,870 $18,858 
December 31, 2020
(Dollars in thousands)Office PropertiesIndustrial PropertiesRetail PropertiesLand PropertiesHotel PropertiesResidential PropertiesBusiness AssetsTotal
Investor loan secured by real estate
CRE non-owner-occupied$— $— $2,594 $— $198 $— $— $2,792 
SBA secured by real estate— — — — 1,257 — — 1,257 
Total investor loans secured by real estate— — 2,594 — 1,455 — — 4,049 
Business loans secured by real estate
CRE owner-occupied— 779 — 5,304 — — — 6,083 
SBA secured by real estate288 757 — — — 98 — 1,143 
Total business loans secured by real estate288 1,536 — 5,304 — 98 — 7,226 
Commercial loans
Commercial and industrial— — — — — — 2,040 2,040 
SBA non-real estate secured— — — — — — 707 707 
Total commercial loans— — — — — — 2,747 2,747 
Retail loans
Single family residential— — — — — 15 — 15 
Total retail loans— — — — — 15 — 15 
Totals collateral dependent loans$288 $1,536 $2,594 $5,304 $1,455 $113 $2,747 $14,037