XML 41 R30.htm IDEA: XBRL DOCUMENT

Loans and Leases (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of composition of loans portfolio

The following table summarizes the composition of our loans and leases held for investment as of the dates indicated:


	March 31,		December 31,
	2023		2022
	(In thousands)
Real estate mortgage	$	15,436,731	$	15,762,351
Real estate construction and land (1)	4,674,473		4,221,853
Commercial	5,232,521		8,297,182
Consumer	427,187		444,630
Total gross loans and leases held for investment	25,770,912		28,726,016
Deferred fees, net	(98,531)		(116,887)
Total loans and leases held for investment, net of deferred fees	25,672,381		28,609,129
Allowance for loan and lease losses	(210,055)		(200,732)
Total loans and leases held for investment, net (2)	$	25,462,326	$	28,408,397

____________________

(1) Includes land and acquisition and development loans of $142.9 million and $153.5 million at March 31, 2023 and December 31, 2022.

(2) Excludes accrued interest receivable of $131.7 million and $124.3 million at March 31, 2023 and December 31, 2022, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets.

Delinquent loans in loan portfolio

The following tables present an aging analysis of our loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated:


	March 31, 2023
	30 - 89		90 or More
	Days		Days		Total
	Past Due		Past Due		Past Due		Current		Total
	(In thousands)
Real estate mortgage:
Commercial	$	3,524	$	21,578	$	25,102	$	3,783,649	$	3,808,751
Multi-family	—		—		—		5,523,320		5,523,320
Other residential	138,372		27,080		165,452		5,910,088		6,075,540
Total real estate mortgage	141,896		48,658		190,554		15,217,057		15,407,611
Real estate construction and land:
Commercial	—		—		—		910,327		910,327
Residential	—		—		—		3,698,113		3,698,113
Total real estate construction and land	—		—		—		4,608,440		4,608,440
Commercial:
Asset-based	—		420		420		2,067,907		2,068,327
Venture capital	—		—		—		2,058,237		2,058,237
Other commercial	941		352		1,293		1,101,250		1,102,543
Total commercial	941		772		1,713		5,227,394		5,229,107
Consumer	1,594		506		2,100		425,123		427,223
Total	$	144,431	$	49,936	$	194,367	$	25,478,014	$	25,672,381


	December 31, 2022
	30 - 89		90 or More
	Days		Days		Total
	Past Due		Past Due		Past Due		Current		Total
	(In thousands)
Real estate mortgage:
Commercial	$	1,721	$	29,269	$	30,990	$	3,815,841	$	3,846,831
Multi-family	—		—		—		5,607,865		5,607,865
Other residential	101,728		39,875		141,603		6,134,025		6,275,628
Total real estate mortgage	103,449		69,144		172,593		15,557,731		15,730,324
Real estate construction and land:
Commercial	—		—		—		898,592		898,592
Residential	—		—		—		3,253,580		3,253,580
Total real estate construction and land	—		—		—		4,152,172		4,152,172
Commercial:
Asset-based	—		434		434		5,139,775		5,140,209
Venture capital	—		—		—		2,033,302		2,033,302
Other commercial	461		1,195		1,656		1,106,795		1,108,451
Total commercial	461		1,629		2,090		8,279,872		8,281,962
Consumer	1,935		149		2,084		442,587		444,671
Total	$	105,845	$	70,922	$	176,767	$	28,432,362	$	28,609,129

Financing Receivable, Nonaccrual

The following table presents our nonaccrual and performing loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated:


	March 31, 2023						December 31, 2022
	Nonaccrual		Performing		Total		Nonaccrual		Performing		Total
	(In thousands)
Real estate mortgage:
Commercial	$	32,996	$	3,775,755	$	3,808,751	$	42,509	$	3,804,322	$	3,846,831
Multi-family	—		5,523,320		5,523,320		—		5,607,865		5,607,865
Other residential	50,060		6,025,480		6,075,540		55,893		6,219,735		6,275,628
Total real estate mortgage	83,056		15,324,555		15,407,611		98,402		15,631,922		15,730,324
Real estate construction and land:
Commercial	—		910,327		910,327		—		898,592		898,592
Residential	—		3,698,113		3,698,113		—		3,253,580		3,253,580
Total real estate construction and land	—		4,608,440		4,608,440		—		4,152,172		4,152,172
Commercial:
Asset-based	420		2,067,907		2,068,327		865		5,139,344		5,140,209
Venture capital	—		2,058,237		2,058,237		—		2,033,302		2,033,302
Other commercial	3,123		1,099,420		1,102,543		4,345		1,104,106		1,108,451
Total commercial	3,543		5,225,564		5,229,107		5,210		8,276,752		8,281,962
Consumer	525		426,698		427,223		166		444,505		444,671
Total	$	87,124	$	25,585,257	$	25,672,381	$	103,778	$	28,505,351	$	28,609,129

CV of loans held for investment by class by performing and nonperforming

The following tables present the credit risk rating categories for loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated. Classified loans and leases are those with a credit risk rating of either substandard or doubtful.


	March 31, 2023
	Classified		Special Mention		Pass		Total
	(In thousands)
Real estate mortgage:
Commercial	$	35,596	$	109,020	$	3,664,135	$	3,808,751
Multi-family	3,586		116,092		5,403,642		5,523,320
Other residential	76,382		44,810		5,954,348		6,075,540
Total real estate mortgage	115,564		269,922		15,022,125		15,407,611
Real estate construction and land:
Commercial	—		93,641		816,686		910,327
Residential	—		44,997		3,653,116		3,698,113
Total real estate construction and land	—		138,638		4,469,802		4,608,440
Commercial:
Asset-based	420		33,133		2,034,774		2,068,327
Venture capital	2,615		126,422		1,929,200		2,058,237
Other commercial	13,126		5,036		1,084,381		1,102,543
Total commercial	16,161		164,591		5,048,355		5,229,107
Consumer	698		7,002		419,523		427,223
Total	$	132,423	$	580,153	$	24,959,805	$	25,672,381


	December 31, 2022
	Classified		Special Mention		Pass		Total
	(In thousands)
Real estate mortgage:
Commercial	$	43,737	$	106,493	$	3,696,601	$	3,846,831
Multi-family	3,611		60,330		5,543,924		5,607,865
Other residential	60,557		58,063		6,157,008		6,275,628
Total real estate mortgage	107,905		224,886		15,397,533		15,730,324
Real estate construction and land:
Commercial	—		91,334		807,258		898,592
Residential	—		45,155		3,208,425		3,253,580
Total real estate construction and land	—		136,489		4,015,683		4,152,172
Commercial:
Asset-based	865		56,836		5,082,508		5,140,209
Venture capital	2,753		127,907		1,902,642		2,033,302
Other commercial	6,473		13,233		1,088,745		1,108,451
Total commercial	10,091		197,976		8,073,895		8,281,962
Consumer	275		6,908		437,488		444,671
Total	$	118,271	$	566,259	$	27,924,599	$	28,609,129

Finance Receivable Investment And Interest Income, Nonaccrual

The following table presents our nonaccrual loans and leases by loan portfolio segment and class and by with and without an allowance recorded as of the date indicated and interest income recognized on nonaccrual loans and leases for the periods indicated:


			Three Months				Three Months
			Ended				Ended
	March 31,		March 31,		March 31,		March 31,
	2023		2023		2022		2022
	Nonaccrual		Interest		Nonaccrual		Interest
	Recorded		Income		Recorded		Income
	Investment		Recognized		Investment		Recognized
	(In thousands)
With An Allowance Recorded:
Real estate mortgage:
Commercial	$	60	$	—	$	68	$	—
Multi-family	—		—		—		—
Other residential	364		—		4,109		—
Real estate construction and land:
Commercial	—		—		—		—
Residential	—		—		493		—
Commercial:
Asset based	—		—		874		—
Venture capital	—		—		3,659		—
Other commercial	927		—		1,274		—
Consumer	525		—		387		—
With No Related Allowance Recorded:
Real estate mortgage:
Commercial	$	32,936	$	3	$	32,004	$	17
Multi-family	—		—		—		—
Other residential	49,696		—		13,982		—
Real estate construction and land:
Commercial	—		—		—		—
Residential	—		—		5,093		—
Commercial:
Asset based	420		—		449		—
Venture capital	—		—		—		—
Other commercial	2,196		1		4,146		354
Consumer	—		—		—		—
Total Loans and Leases With and
Without an Allowance Recorded:
Real estate mortgage	$	83,056	$	3	$	50,163	$	17
Real estate construction and land	—		—		5,586		—
Commercial	3,543		1		10,402		354
Consumer	525		—		387		—
Total	$	87,124	$	4	$	66,538	$	371

Finance Receivable, Loans By Origination Year

The following tables present our loans held for investment by loan portfolio segment and class, by credit quality indicator (internal risk ratings), and by year of origination (vintage year) as of the dates indicated:


															Revolving
															Converted
Amortized Cost Basis (1)	Term Loans by Origination Year												Revolving		to Term
March 31, 2023	2023		2022		2021		2020		2019		Prior		Loans		Loans		Total
	(In thousands)
Real Estate Mortgage:
Commercial
Internal risk rating:
1-2 High pass	$	—	$	4,935	$	2,712	$	10,178	$	27,110	$	40,532	$	1,305	$	—	$	86,772
3-4 Pass	43,528		537,793		498,774		460,109		317,986		1,623,820		85,376		9,977		3,577,363
5 Special mention	—		—		—		724		14,957		93,339		—		—		109,020
6-8 Classified	—		—		552		458		1,265		33,321		—		—		35,596
Total	$	43,528	$	542,728	$	502,038	$	471,469	$	361,318	$	1,791,012	$	86,681	$	9,977	$	3,808,751
Current YTD period:
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	6,926	$	—	$	—	$	6,926

Real Estate Mortgage:
Multi-family
Internal risk rating:
1-2 High pass	$	—	$	23,561	$	84,153	$	26,843	$	55,542	$	104,508	$	—	$	—	$	294,607
3-4 Pass	1,380		1,916,440		1,084,926		441,047		672,385		936,345		56,512		—		5,109,035
5 Special mention	—		—		—		37,211		29,430		49,451		—		—		116,092
6-8 Classified	—		—		—		—		—		3,586		—		—		3,586
Total	$	1,380	$	1,940,001	$	1,169,079	$	505,101	$	757,357	$	1,093,890	$	56,512	$	—	$	5,523,320
Current YTD period:
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Real Estate Mortgage:
Other residential
Internal risk rating:
1-2 High pass	$	—	$	—	$	—	$	—	$	—	$	—	$	1,500	$	—	$	1,500
3-4 Pass	299,234		2,432,852		3,077,525		78,709		—		20,047		44,380		101		5,952,848
5 Special mention	—		18,810		26,000		—		—		—		—		—		44,810
6-8 Classified	(1,456)		26,587		41,041		7,683		—		2,368		—		159		76,382
Total	$	297,778	$	2,478,249	$	3,144,566	$	86,392	$	—	$	22,415	$	45,880	$	260	$	6,075,540
Current YTD period:
Gross charge-offs	$	—	$	1,600	$	1,214	$	91	$	—	$	4	$	—	$	—	$	2,909

____________________

(1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.


															Revolving
															Converted
Amortized Cost Basis (1)	Term Loans by Origination Year												Revolving		to Term
March 31, 2023	2023		2022		2021		2020		2019		Prior		Loans		Loans		Total
	(In thousands)
Real Estate Construction
and Land: Commercial
Internal risk rating:
1-2 High pass	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
3-4 Pass	—		356,981		182,400		80,045		173,735		23,525		—		—		816,686
5 Special mention	—		—		—		—		—		93,641		—		—		93,641
6-8 Classified	—		—		—		—		—		—		—		—		—
Total	$	—	$	356,981	$	182,400	$	80,045	$	173,735	$	117,166	$	—	$	—	$	910,327
Current YTD period:
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Real Estate Construction
and Land: Residential
Internal risk rating:
1-2 High pass	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
3-4 Pass	10,606		810,532		1,592,751		869,174		206,942		128,373		34,738		—		3,653,116
5 Special mention	—		—		—		—		44,997		—		—		—		44,997
6-8 Classified	—		—		—		—		—		—		—		—		—
Total	$	10,606	$	810,532	$	1,592,751	$	869,174	$	251,939	$	128,373	$	34,738	$	—	$	3,698,113
Current YTD period:
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial: Asset-Based
Internal risk rating:
1-2 High pass	$	1,493	$	270,573	$	219,771	$	46,719	$	148,394	$	319,219	$	(20)	$	—	$	1,006,149
3-4 Pass	30,268		351,394		170,393		47,637		33,991		44,076		349,019		1,847		1,028,625
5 Special mention	—		177		—		—		—		14,473		18,451		32		33,133
6-8 Classified	—		—		—		—		—		420		—		—		420
Total	$	31,761	$	622,144	$	390,164	$	94,356	$	182,385	$	378,188	$	367,450	$	1,879	$	2,068,327
Current YTD period:
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial: Venture
Capital
Internal risk rating:
1-2 High pass	$	(53)	$	(16)	$	—	$	1,999	$	—	$	27	$	174,702	$	(557)	$	176,102
3-4 Pass	(10)		137,072		146,732		22,178		3,711		2,173		1,375,198		66,044		1,753,098
5 Special mention	—		14,303		42,585		4,484		22,258		—		37,799		4,993		126,422
6-8 Classified	—		—		2,615		—		—		—		—		—		2,615
Total	$	(63)	$	151,359	$	191,932	$	28,661	$	25,969	$	2,200	$	1,587,699	$	70,480	$	2,058,237
Current YTD period:
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

____________________

(1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.


															Revolving
															Converted
Amortized Cost Basis (1)	Term Loans by Origination Year												Revolving		to Term
March 31, 2023	2023		2022		2021		2020		2019		Prior		Loans		Loans		Total
	(In thousands)
Commercial: Other
Commercial
Internal risk rating:
1-2 High pass	$	655	$	2,328	$	8,215	$	(20)	$	65	$	(36)	$	21,365	$	—	$	32,572
3-4 Pass	3,579		96,573		274,960		51,500		37,466		127,936		456,166		3,629		1,051,809
5 Special mention	—		—		317		151		610		2,386		1,488		84		5,036
6-8 Classified	—		6,702		—		—		300		2,542		2,725		857		13,126
Total	$	4,234	$	105,603	$	283,492	$	51,631	$	38,441	$	132,828	$	481,744	$	4,570	$	1,102,543
Current YTD period:
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	47	$	90	$	137

Consumer
Internal risk rating:
1-2 High pass	$	—	$	32	$	28	$	6	$	—	$	—	$	1,041	$	—	$	1,107
3-4 Pass	66		61,167		217,470		19,885		45,584		64,999		9,245		—		418,416
5 Special mention	—		1,379		3,557		451		1,225		250		140		—		7,002
6-8 Classified	—		—		356		38		176		108		1		19		698
Total	$	66	$	62,578	$	221,411	$	20,380	$	46,985	$	65,357	$	10,427	$	19	$	427,223
Current YTD period:
Gross charge-offs	$	—	$	79	$	31	$	—	$	144	$	170	$	1	$	—	$	425

Total Loans and Leases
Internal risk rating:
1-2 High pass	$	2,095	$	301,413	$	314,879	$	85,725	$	231,111	$	464,250	$	199,893	$	(557)	$	1,598,809
3-4 Pass	388,651		6,700,804		7,245,931		2,070,284		1,491,800		2,971,294		2,410,634		81,598		23,360,996
5 Special mention	—		34,669		72,459		43,021		113,477		253,540		57,878		5,109		580,153
6-8 Classified	(1,456)		33,289		44,564		8,179		1,741		42,345		2,726		1,035		132,423
Total	$	389,290	$	7,070,175	$	7,677,833	$	2,207,209	$	1,838,129	$	3,731,429	$	2,671,131	$	87,185	$	25,672,381
Current YTD period:
Gross charge-offs	$	—	$	1,679	$	1,245	$	91	$	144	$	7,100	$	48	$	90	$	10,397

______________________

(1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.


															Revolving
															Converted
Amortized Cost Basis (1)	Term Loans by Origination Year												Revolving		to Term
December 31, 2022	2022		2021		2020		2019		2018		Prior		Loans		Loans		Total
	(In thousands)
Real Estate Mortgage:
Commercial
Internal risk rating:
1-2 High pass	$	4,957	$	3,791	$	7,215	$	26,132	$	4,690	$	35,343	$	1,290	$	—	$	83,418
3-4 Pass	537,931		501,576		467,792		322,448		539,701		1,148,386		85,284		10,065		3,613,183
5 Special mention	—		—		728		16,394		2,294		87,077		—		—		106,493
6-8 Classified	—		559		464		1,310		27,396		14,008		—		—		43,737
Total	$	542,888	$	505,926	$	476,199	$	366,284	$	574,081	$	1,284,814	$	86,574	$	10,065	$	3,846,831
Current YTD period:
Gross charge-offs	$	—	$	67	$	—	$	79	$	2,258	$	326	$	—	$	—	$	2,730

Real Estate Mortgage:
Multi-family
Internal risk rating:
1-2 High pass	$	—	$	89,251	$	19,945	$	58,275	$	66,219	$	69,805	$	—	$	—	$	303,495
3-4 Pass	1,940,337		1,084,467		523,645		676,169		446,987		511,185		57,639		—		5,240,429
5 Special mention	—		—		4,944		16,974		7,003		31,409		—		—		60,330
6-8 Classified	—		—		—		—		2,750		861		—		—		3,611
Total	$	1,940,337	$	1,173,718	$	548,534	$	751,418	$	522,959	$	613,260	$	57,639	$	—	$	5,607,865
Current YTD period:
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Real Estate Mortgage:
Other residential
Internal risk rating:
1-2 High pass	$	—	$	—	$	—	$	—	$	—	$	—	$	1,000	$	—	$	1,000
3-4 Pass	2,805,533		3,200,013		83,580		—		237		20,394		46,155		96		6,156,008
5 Special mention	27,272		25,766		4,916		—		109		—		—		—		58,063
6-8 Classified	19,248		33,218		5,333		—		—		2,555		—		203		60,557
Total	$	2,852,053	$	3,258,997	$	93,829	$	—	$	346	$	22,949	$	47,155	$	299	$	6,275,628
Current YTD period:
Gross charge-offs	$	249	$	1,084	$	912	$	—	$	—	$	81	$	—	$	—	$	2,326

____________________

(1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.


															Revolving
															Converted
Amortized Cost Basis (1)	Term Loans by Origination Year												Revolving		to Term
December 31, 2022	2022		2021		2020		2019		2018		Prior		Loans		Loans		Total
	(In thousands)
Real Estate Construction
and Land: Commercial
Internal risk rating:
1-2 High pass	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
3-4 Pass	299,538		170,397		74,634		237,294		17,763		7,632		—		—		807,258
5 Special mention	—		—		—		—		91,334		—		—		—		91,334
6-8 Classified	—		—		—		—		—		—		—		—		—
Total	$	299,538	$	170,397	$	74,634	$	237,294	$	109,097	$	7,632	$	—	$	—	$	898,592
Current YTD period:
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Real Estate Construction
and Land: Residential
Internal risk rating:
1-2 High pass	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
3-4 Pass	605,683		1,302,061		844,041		282,076		125,805		204		48,555		—		3,208,425
5 Special mention	—		—		—		45,155		—		—		—		—		45,155
6-8 Classified	—		—		—		—		—		—		—		—		—
Total	$	605,683	$	1,302,061	$	844,041	$	327,231	$	125,805	$	204	$	48,555	$	—	$	3,253,580
Current YTD period:
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial: Asset-Based
Internal risk rating:
1-2 High pass	$	225,140	$	209,272	$	57,727	$	202,063	$	121,600	$	208,542	$	850,031	$	—	$	1,874,375
3-4 Pass	547,675		188,269		52,711		35,811		33,426		40,714		2,239,785		69,742		3,208,133
5 Special mention	—		—		—		43,409		—		3,505		9,922		—		56,836
6-8 Classified	—		—		—		—		—		434		—		431		865
Total	$	772,815	$	397,541	$	110,438	$	281,283	$	155,026	$	253,195	$	3,099,738	$	70,173	$	5,140,209
Current YTD period:
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	750	$	—	$	750

Commercial: Venture
Capital
Internal risk rating:
1-2 High pass	$	(40)	$	—	$	2,000	$	—	$	134	$	3	$	216,535	$	503	$	219,135
3-4 Pass	92,015		136,296		18,075		3,705		1,833		910		1,365,101		65,572		1,683,507
5 Special mention	13,970		40,924		4,483		23,202		—		—		40,335		4,993		127,907
6-8 Classified	—		2,753		—		—		—		—		—		—		2,753
Total	$	105,945	$	179,973	$	24,558	$	26,907	$	1,967	$	913	$	1,621,971	$	71,068	$	2,033,302
Current YTD period:
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	940	$	—	$	940

____________________

(1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.


															Revolving
															Converted
Amortized Cost Basis (1)	Term Loans by Origination Year												Revolving		to Term
December 31, 2022	2022		2021		2020		2019		2018		Prior		Loans		Loans		Total
	(In thousands)
Commercial: Other
Commercial
Internal risk rating:
1-2 High pass	$	3,591	$	10,880	$	12	$	161	$	3	$	14	$	20,958	$	—	$	35,619
3-4 Pass	84,930		278,208		54,542		41,908		47,771		87,645		454,438		3,684		1,053,126
5 Special mention	7,038		796		184		695		1,526		2,858		47		89		13,233
6-8 Classified	—		806		—		319		(3)		2,653		1,600		1,098		6,473
Total	$	95,559	$	290,690	$	54,738	$	43,083	$	49,297	$	93,170	$	477,043	$	4,871	$	1,108,451
Current YTD period:
Gross charge-offs	$	—	$	209	$	—	$	1	$	—	$	2,537	$	1,906	$	474	$	5,127

Consumer
Internal risk rating:
1-2 High pass	$	34	$	30	$	7	$	—	$	1	$	—	$	854	$	—	$	926
3-4 Pass	62,868		226,084		20,798		48,542		31,693		37,838		8,739		—		436,562
5 Special mention	1,252		3,490		464		1,126		278		238		60		—		6,908
6-8 Classified	47		—		—		59		79		74		—		16		275
Total	$	64,201	$	229,604	$	21,269	$	49,727	$	32,051	$	38,150	$	9,653	$	16	$	444,671
Current YTD period:
Gross charge-offs	$	309	$	529	$	237	$	728	$	—	$	354	$	—	$	7	$	2,164

Total Loans and Leases
Internal risk rating:
1-2 High pass	$	233,682	$	313,224	$	86,906	$	286,631	$	192,647	$	313,707	$	1,090,668	$	503	$	2,517,968
3-4 Pass	6,976,510		7,087,371		2,139,818		1,647,953		1,245,216		1,854,908		4,305,696		149,159		25,406,631
5 Special mention	49,532		70,976		15,719		146,955		102,544		125,087		50,364		5,082		566,259
6-8 Classified	19,295		37,336		5,797		1,688		30,222		20,585		1,600		1,748		118,271
Total	$	7,279,019	$	7,508,907	$	2,248,240	$	2,083,227	$	1,570,629	$	2,314,287	$	5,448,328	$	156,492	$	28,609,129
Current YTD period:
Gross charge-offs	$	558	$	1,889	$	1,149	$	808	$	2,258	$	3,298	$	3,596	$	481	$	14,037

____________________

(1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.

Finance Receivable, Loan Restructuring and Refinancing, Amortized Costs Balance

The following table presents our loan modifications made to borrowers experiencing financial difficulty by type of modification for the period indicated with related amortized cost balances as of the date indicated:


	Three Months Ended March 31, 2023
	Loan Modifications
	Balances (Amortized Cost Basis) at
	March 31, 2023
									Combination - Term
									Extension and				Combination - Term
									Interest Rate				Extension and				Total Loan
	Term Extension				Payment Delay				Reduction				Payment Delay				Modifications
			% of				% of				% of				% of				% of
			Loan				Loan				Loan				Loan				Loan
			Portfolio				Portfolio				Portfolio				Portfolio				Portfolio
	Balance		Class		Balance		Class		Balance		Class		Balance		Class		Balance		Class
	(Dollars in thousands)
Real estate
mortgage:


Other
residential	$	12,716	0.2	%	$	—	—	%	$	—	—	%	$	—	—	%	$	12,716	0.2	%



Commercial:

Venture
capital	—		—	%	—		—	%	—		—	%	613		—	%	613		—	%
Other
commercial	2,057		0.2	%	45		—	%	—		—	%	—		—	%	2,102		0.2	%
Consumer	—		—	%	—		—	%	3		—	%	—		—	%	3		—	%
Total	$	14,773			$	45			$	3			$	613			$	15,434

Finance Receivables - Loan Restructuring & Refinancing Modifications

The following tables present the financial effect of our loan modifications made to borrowers experiencing financial difficulty by type of modification for the period indicated:

Three Months Ended March 31, 2023

Term Extension - Financial Effect

Real estate mortgage:

Other residential

Extended maturity by a weighted average seven months.

Commercial:

Other commercial

Extended maturity by a weighted average 12 months.

Three Months Ended March 31, 2023

Payment Delay - Financial Effect

Commercial:

Other commercial

Provided six months of reduced payments to borrowers without extending the loan term.

Three Months Ended March 31, 2023

Combination - Term Extension and Interest Rate Reduction

Consumer

Extended maturity by a weighted average 2 years and reduced weighted average contractual interest rate from 9.5% to 2.0%.

Three Months Ended March 31, 2023

Combination - Term Extension and Payment Delay

Commercial:

Venture capital

Extended maturity by a weighted average 11 months and provided 11 months of interest only payments to borrowers.

Finance Receivable, Loan Modifications, Payment Status

The following table presents the payment status of our loan modifications made during the period indicated with related amortized cost balances as of the date indicated:


	Three Months Ended March 31, 2023
	Loan Modifications
	Payment Status (Amortized Cost Basis) at
	March 31, 2023
			30-89 Days		90 or More Days
	Current		Past Due		Past Due		Total
	(In thousands)
Real estate mortgage:
Commercial	$	—	$	—	$	—	$	—
Multi-family	—		—		—		—
Other residential	8,780		3,936		—		12,716
Real estate construction and land:
Commercial	—		—		—		—
Residential	—		—		—		—
Commercial:
Asset-based	—		—		—		—
Venture capital	613		—		—		613
Other commercial	2,102		—		—		2,102
Consumer	3		—		—		3
Total	$	11,498	$	3,936	$	—	$	15,434

Troubled debt restructurings on financing receivables

The following table presents our troubled debt restructurings of loans held for investment by loan portfolio segment and class for the period indicated:

Three Months Ended March 31, 2022

Pre-

Post-

Modification

Number

Outstanding

Recorded

Troubled Debt Restructurings

Loans

Investment

(In thousands)

Real estate mortgage:

Multi-family

304

—

Commercial:

Other commercial

1,074

Total

1,378

1,074

Lease Income of Direct Financing Leases

The following table provides the components of leases receivable income for the periods indicated:


	Three Months Ended
	March 31,
	2023		2022
	(In thousands)
Component of leases receivable income:
Interest income on net investments in leases	$	3,749	$	2,388

Assets and Liabilities, Lessor

The following table presents the components of leases receivable as of the dates indicated:


	March 31, 2023		December 31, 2022
	(In thousands)
Net Investment in Direct Financing Leases:
Lease payments receivable	$	235,396	$	232,909
Unguaranteed residual assets	23,866		23,561
Deferred costs and other	1,781		1,815
Aggregate net investment in leases	$	261,043	$	258,285

Sales-type and Direct Financing Leases, Lease Receivable, Maturity

The following table presents maturities of leases receivable as of the date indicated:


	March 31, 2023
	(In thousands)
Period ending December 31,
2023	$	55,009
2024	73,615
2025	55,299
2026	36,835
2027	23,704
Thereafter	18,570
Total undiscounted cash flows	263,032
Less: Unearned income	(27,636)
Present value of lease payments	$	235,396

Finance Receivable, Allowance For Loan Losses

The following tables present a summary of the activity in the allowance for loan and lease losses on loans and leases held for investment by loan portfolio segment for the periods indicated:
















	Three Months Ended March 31, 2023
			Real Estate
	Real Estate		Construction
	Mortgage		and Land		Commercial		Consumer		Total
	(In thousands)
Allowance for Loan and Lease Losses:
Balance, beginning of period	$	87,309	$	52,320	$	52,849	$	8,254	$	200,732



Charge-offs	(9,835)		—		(137)		(425)		(10,397)
Recoveries	200		—		975		45		1,220
Net (charge-offs) recoveries	(9,635)		—		838		(380)		(9,177)
Provision	31,809		2,714		(16,492)		469		18,500
Balance, end of period	$	109,483	$	55,034	$	37,195	$	8,343	$	210,055

Ending Allowance by
Evaluation Methodology:
Individually evaluated	$	—	$	—	$	—	$	—	$	—
Collectively evaluated	$	109,483	$	55,034	$	37,195	$	8,343	$	210,055

Ending Loans and Leases by
Evaluation Methodology:
Individually evaluated	$	82,835	$	—	$	2,616	$	—	$	85,451
Collectively evaluated	15,324,776		4,608,440		5,226,491		427,223		25,586,930
Ending balance	$	15,407,611	$	4,608,440	$	5,229,107	$	427,223	$	25,672,381
















	Three Months Ended March 31, 2022
			Real Estate
	Real Estate		Construction
	Mortgage		and Land		Commercial		Consumer		Total
	(In thousands)
Allowance for Loan and Lease Losses:
Balance, beginning of period	$	98,624	$	44,508	$	48,718	$	8,714	$	200,564
Charge-offs	(168)		—		(2,833)		(233)		(3,234)
Recoveries	163		149		1,735		21		2,068
Net (charge-offs) recoveries	(5)		149		(1,098)		(212)		(1,166)
Provision	(11,391)		(1,009)		9,436		964		(2,000)
Balance, end of period	$	87,228	$	43,648	$	57,056	$	9,466	$	197,398

Ending Allowance by
Evaluation Methodology:
Individually evaluated	$	156	$	—	$	1,023	$	—	$	1,179
Collectively evaluated	$	87,072	$	43,648	$	56,033	$	9,466	$	196,219

Ending Loans and Leases by
Evaluation Methodology:
Individually evaluated	$	51,280	$	6,515	$	17,813	$	—	$	75,608
Collectively evaluated	12,457,784		3,217,201		8,096,882		504,597		24,276,464
Ending balance	$	12,509,064	$	3,223,716	$	8,114,695	$	504,597	$	24,352,072

Collateral-dependent Finance Receivable

The following table summarizes collateral-dependent loans held for investment by collateral type as of the following dates:


	March 31, 2023						December 31, 2022
	Real		Business				Real		Business
	Property		Assets		Total		Property		Assets		Total
	(In thousands)
Real estate mortgage	$	81,541	$	—	$	81,541	$	90,485	$	—	$	90,485
Real estate construction and land	—		—		—		1,402		—		1,402
Commercial	—		420		420		—		434		434
Total	$	81,541	$	420	$	81,961	$	91,887	$	434	$	92,321

Allowance for credit losses on financing receivables

The following tables present a summary of the activity in the allowance for loan and lease losses and reserve for unfunded loan commitments for the periods indicated:
















	Three Months Ended
	March 31, 2023
	Allowance for		Reserve for		Total
	Loan and		Unfunded Loan		Allowance for
	Lease Losses		Commitments		Credit Losses
	(In thousands)
Balance, beginning of period	$	200,732	$	91,071	$	291,803
Charge-offs	(10,397)		—		(10,397)
Recoveries	1,220		—		1,220
Net charge-offs	(9,177)		—		(9,177)
Provision	18,500		(15,500)		3,000
Balance, end of period	$	210,055	$	75,571	$	285,626
















	Three Months Ended
	March 31, 2022
	Allowance for		Reserve for		Total
	Loan and		Unfunded Loan		Allowance for
	Lease Losses		Commitments		Credit Losses
	(In thousands)
Balance, beginning of period	$	200,564	$	73,071	$	273,635
Charge-offs	(3,234)		—		(3,234)
Recoveries	2,068		—		2,068
Net charge-offs	(1,166)		—		(1,166)
Provision	(2,000)		2,000		—
Balance, end of period	$	197,398	$	75,071	$	272,469