Loans and Leases

9 Months Ended

Sep. 30, 2022

The following table presents the major types of loans and leases, net of deferred fees and costs, as of September 30, 2022 and December 31, 2021:


(in thousands)	September 30, 2022		December 31, 2021
Commercial real estate
Non-owner occupied term, net	$	3,846,426	$	3,786,887
Owner occupied term, net	2,549,761		2,332,422
Multifamily, net	5,090,661		4,051,202
Construction & development, net	1,036,931		890,338
Residential development, net	205,935		206,990
Commercial
Term, net	3,003,424		3,008,473
Lines of credit & other, net	914,507		910,733
Leases & equipment finance, net	1,669,817		1,467,676
Residential
Mortgage, net	5,470,624		4,517,266
Home equity loans & lines, net	1,565,094		1,197,170
Consumer & other, net	154,771		184,023
Total loans and leases, net of deferred fees and costs	$	25,507,951	$	22,553,180

As of September 30, 2022 and December 31, 2021, the net deferred costs were $83.9 million and $57.5 million, respectively. Total loans and leases also include discounts on acquired loans of $6.5 million and $9.8 million as of September 30, 2022 and December 31, 2021, respectively. As of September 30, 2022, loans totaling $16.4 billion were pledged to secure borrowings and available lines of credit. The Company elected to exclude accrued interest receivable from the amortized cost basis of loans disclosed throughout this footnote. Interest accrued on loans totaled $72.7 million and $60.1 million as of September 30, 2022 and December 31, 2021, respectively, and is included in Other Assets.

The Bank, through its commercial equipment leasing subsidiary, FinPac, is a provider of commercial equipment leasing and financing. Direct finance leases are included within the leases and equipment finance segment within the loans and leases, net line item. These direct financing leases typically have terms of three to five years. Interest income recognized on these leases was $4.4 million and $14.3 million for the three and nine months ended September 30, 2022, as compared to $6.1 million and $17.3 million for the three and nine months ended September 30, 2021.

Loans and leases sold

In the course of managing the loan and lease portfolio, at certain times, management may decide to sell loans and leases. The following table summarizes the carrying value of loans and leases sold by major loan type during the three and nine months ended September 30, 2022 and 2021:


	Three Months Ended				Nine Months Ended
(in thousands)	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Commercial real estate
Non-owner occupied term, net	$	10,704	$	14,828	$	35,412	$	38,124
Owner occupied term, net	13,093		12,692		31,977		25,115
Multifamily, net	—		—		—		3,776


Commercial
Term, net	15,759		10,866		37,537		39,180


Residential
Mortgage, net	—		—		1,493		1,712

Consumer & other	—		—		—		63,799
Total loans and leases sold, net	$	39,556	$	38,386	$	106,419	$	171,706