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Loans and Leases Held for Investment at Amortized Cost, Net of Allowance For Loan and Lease Losses (Tables)
 12 Months Ended
Dec. 31, 2023
Loans and Leases Receivable Disclosure [Abstract]  
Loans and Notes and Certificates The following table presents the components of each portfolio segment by class of financing receivable:
December 31, 2023December 31, 2022
Unsecured personal$3,726,830 $3,866,373 
Residential mortgages183,050 199,601 
Secured consumer250,039 194,634 
Total consumer loans held for investment4,159,919 4,260,608 
Equipment finance (1)
110,992 160,319 
Commercial real estate380,322 373,501 
Commercial and industrial (2)
199,069 238,726 
Total commercial loans and leases held for investment690,383 772,546 
Total loans and leases held for investment4,850,302 5,033,154 
Allowance for loan and lease losses (3)
(310,387)(327,852)
Loans and leases held for investment, net (4)
$4,539,915 $4,705,302 
(1)    Comprised of sales-type leases for equipment. See “Note 19. Leases” for additional information.
(2)    Includes $6.4 million and $67.0 million of pledged loans under the Paycheck Protection Program (PPP), as of December 31, 2023 and 2022, respectively.
(3)    Comprised of $355.8 million and $340.4 million in allowance for future estimated net charge-offs on existing portfolio balances, net of a negative allowance of $45.4 million and $12.5 million for expected recoveries of amounts previously charged-off as of December 31, 2023 and 2022, respectively.
(4)    As of December 31, 2023 and 2022, the Company had $3.5 billion and $283.6 million in loans pledged as collateral under the FRB Discount Window, respectively. In addition, as of December 31, 2023 and 2022, the Company had $479.0 million and $156.2 million in loans pledged to the FHLB of Des Moines, respectively.

December 31, 2023GrossALLLNet
Allowance Ratios (1)
Total consumer loans held for investment$4,159,919 $298,061 $3,861,858 7.2 %
Total commercial loans and leases held for investment
690,383 12,326 678,057 1.8 %
Total loans and leases held for investment
$4,850,302 $310,387 $4,539,915 6.4 %
December 31, 2022GrossALLLNet
Allowance Ratios (1)
Total consumer loans held for investment$4,260,608 $312,489 $3,948,119 7.3 %
Total commercial loans and leases held for investment
772,546 15,363 757,183 2.0 %
Total loans and leases held for investment
5,033,154 $327,852 $4,705,302 6.5 %
(1)    Calculated as the ratio of ALLL to loans and leases HFI at amortized cost.
The following table summarizes the aggregate fair value of the Company’s HFS loans, as well as the amount that was 90 days or more past due:
December 31, 2023December 31, 2022
Total
90 or more
 days past due
Total
90 or more
 days past due
Aggregate unpaid principal balance
$431,955 $1,395 $114,920 $188 
Cumulative fair value adjustments
(24,182)(1,102)(4,520)(153)
Fair value of loans held for sale
$407,773 $293 $110,400 $35 
The following table summarizes the aggregate fair value of the Company’s HFI loans held at fair value, as well as the amount that was 90 days or more past due:
December 31, 2023December 31, 2022
Total
90 or more
 days past due
Total
90 or more
 days past due
Aggregate unpaid principal balance
$281,031 $3,774 $1,002,465 $6,345 
Cumulative fair value adjustments
(18,841)(3,037)(76,527)(5,158)
Fair value of loans held for investment
$262,190 $737 $925,938 $1,187 
Financing Receivable, Allowance for Credit Loss
The activity in the ACL by portfolio segment was as follows:
Year Ended December 31,202320222021
ConsumerCommercialTotalConsumerCommercialTotalConsumerCommercialTotal
Allowance for loan and lease losses, beginning of period$312,489 $15,363 $327,852 $128,812 $15,577 $144,389 $— $— $— 
Credit loss expense for loans and leases held for investment (1)
244,518 (948)243,570 265,359 1,320 266,679 136,789 4,162 140,951 
Initial allowance for PCD loans acquired during the period
— — — — — — 603 11,837 12,440 
Charge-offs (2)
(278,105)(3,002)(281,107)(85,247)(2,226)(87,473)(8,789)(1,663)(10,452)
Recoveries19,159 913 20,072 3,565 692 4,257 209 1,241 1,450 
Allowance for loan and lease losses, end of period$298,061 $12,326 $310,387 $312,489 $15,363 $327,852 $128,812 $15,577 $144,389 
Reserve for unfunded lending commitments, beginning of period$18 $1,860 $1,878 $— $1,231 $1,231 $— $— $— 
Credit loss expense for unfunded lending commitments (18)13 (5)18 629 647 — 1,231 1,231 
Reserve for unfunded lending commitments, end of period (3)
$— $1,873 $1,873 $18 $1,860 $1,878 $— $1,231 $1,231 
(1)    For the year ended December 31, 2021, includes $6.9 million of credit loss expense for acquired loans.
(2)    Unsecured personal loans are charged-off when a borrower is (i) contractually 120 days past due or (ii) two payments past due and has filed for bankruptcy or is deceased.
(3)    Relates to $78.1 million, $138.0 million and $110.8 million of unfunded commitments as of December 31, 2023, 2022 and 2021, respectively.
Schedule of Financing Receivable Gross Charge-Offs and Credit Quality Indicators
The following table presents charge-offs by origination year for the year ended December 31, 2023:
Gross Charge-Offs by Origination Year
20232022202120202019PriorTotal
Unsecured personal$23,340 $157,502 $94,147 $— $— $— $274,989 
Residential mortgages— — — — — — — 
Secured consumer202 2,233 681 — — — 3,116 
Total consumer loans held for investment23,542 159,735 94,828 — — — 278,105 
Equipment finance— — — — — — — 
Commercial real estate— — — — — — — 
Commercial and industrial— — 1,369 82 318 1,233 3,002 
Total commercial loans and leases held for investment— — 1,369 82 318 1,233 3,002 
Total loans and leases held for investment$23,542 $159,735 $96,197 $82 $318 $1,233 $281,107 
The following tables present the classes of financing receivables within the consumer portfolio segment by credit quality indicator based on delinquency status and origination year:
December 31, 2023 Term Loans and Leases by Origination Year
20232022202120202019PriorTotal
Unsecured personal
Current $1,498,737 $1,688,512 $438,296 $— $— $— $3,625,545 
30-59 days past due 9,034 17,017 6,665 — — — 32,716 
60-89 days past due 7,767 15,538 6,251 — — — 29,556 
90 or more days past due 6,924 16,564 6,644 — — — 30,132 
Total unsecured personal (1)
1,522,462 1,737,631 457,856 — — — 3,717,949 
Residential mortgages
Current 53 48,473 54,855 29,960 18,917 29,041 181,299 
30-59 days past due — — — — 1,331 420 1,751 
60-89 days past due — — — — — — — 
90 or more days past due — — — — — — — 
Total residential mortgages 53 48,473 54,855 29,960 20,248 29,461 183,050 
Secured consumer
Current125,618 97,084 21,949 — 2,460 — 247,111 
30-59 days past due364 1,295 417 — — — 2,076 
60-89 days past due94 373 168 — — — 635 
90 or more days past due— 153 64 — — — 217 
Total secured consumer126,076 98,905 22,598 — 2,460 — 250,039 
Total consumer loans held for investment$1,648,591 $1,885,009 $535,309 $29,960 $22,708 $29,461 $4,151,038 
(1)    Excludes cumulative basis adjustment for loans designated in fair value hedges under the portfolio layer method. As of December 31, 2023, the basis adjustment totaled $8.9 million and represents a reduction to the amortized cost of the hedged loans. See “Note 9. Derivative Instruments and Hedging Activities” for additional information.
December 31, 2022 Term Loans and Leases by Origination Year
20222021202020192018PriorTotal
Unsecured personal
Current $2,835,460 $977,224 $— $— $— $— $3,812,684 
30-59 days past due 11,149 9,867 — — — — 21,016 
60-89 days past due 7,785 8,633 — — — — 16,418 
90 or more days past due 6,813 9,442 — — — — 16,255 
Total unsecured personal2,861,207 1,005,166 — — — — 3,866,373 
Residential mortgages
Current 49,721 58,353 31,465 21,683 4,546 33,248 199,016 
30-59 days past due — — — — — — — 
60-89 days past due — — — — — 254 254 
90 or more days past due — — — — — 331 331 
Total residential mortgages 49,721 58,353 31,465 21,683 4,546 33,833 199,601 
Secured consumer
Current151,725 38,076 — 2,543 — — 192,344 
30-59 days past due1,017 703 — — — — 1,720 
60-89 days past due235 147 — — — — 382 
90 or more days past due116 72 — — — — 188 
Total secured consumer153,093 38,998 — 2,543 — — 194,634 
Total consumer loans held for investment$3,064,021 $1,102,517 $31,465 $24,226 $4,546 $33,833 $4,260,608 
The following tables present the classes of financing receivables within the commercial portfolio segment by risk rating and origination year:
December 31, 2023 Term Loans and Leases by Origination Year
20232022202120202019PriorTotal
Guaranteed Amount (1)
Equipment finance
Pass $2,945 $33,430 $26,311 $7,754 $9,411 $6,288 $86,139 $— 
Special mention— 15,235 1,962 5,873 1,335 — 24,405 — 
Substandard — — — 448 — — 448 — 
Doubtful — — — — — — — — 
Loss— — — — — — — — 
Total equipment finance2,945 48,665 28,273 14,075 10,746 6,288 110,992 — 
Commercial real estate
Pass 49,067 94,247 34,535 43,058 52,160 78,062 351,129 33,423 
Special mention— — — — — 13,706 13,706 — 
Substandard — 3,598 7,716 — — 2,139 13,453 9,425 
Doubtful — — — — — — — — 
Loss— — 1,515 — — 519 2,034 1,471 
Total commercial real estate49,067 97,845 43,766 43,058 52,160 94,426 380,322 44,319 
Commercial and industrial
Pass 40,636 60,352 39,304 9,525 10,282 11,626 171,725 104,928 
Special mention— 10,881 1,532 729 137 444 13,723 9,384 
Substandard — 2,304 5,426 673 1,045 1,434 10,882 6,908 
Doubtful — 649 — 548 — 286 1,483 1,214 
Loss— — — — — 1,256 1,256 1,229 
Total commercial and industrial
40,636 74,186 46,262 11,475 11,464 15,046 199,069 123,663 
Total commercial loans and leases held for investment$92,648 $220,696 $118,301 $68,608 $74,370 $115,760 $690,383 $167,982 
(1)    Represents loan balances guaranteed by the Small Business Association (SBA).
December 31, 2022 Term Loans and Leases by Origination Year
20222021202020192018PriorTotal
Guaranteed Amount (1)
Equipment finance
Pass $59,227 $38,218 $25,014 $15,785 $11,880 $3,444 $153,568 $— 
Special mention— 2,094 — 3,759 — — 5,853 — 
Substandard — — 859 — 39 — 898 — 
Doubtful — — — — — — — — 
Loss— — — — — — — — 
Total equipment finance59,227 40,312 25,873 19,544 11,919 3,444 160,319 — 
Commercial real estate
Pass 100,602 53,445 47,497 52,834 35,992 60,976 351,346 40,693 
Special mention— — 8,415 260 1,237 405 10,317 — 
Substandard — — — 643 2,404 8,215 11,262 — 
Doubtful — — — — — — — — 
Loss— — — — — 576 576 — 
Total commercial real estate100,602 53,445 55,912 53,737 39,633 70,172 373,501 40,693 
Commercial and industrial
Pass 61,076 99,264 24,726 13,866 5,174 10,831 214,937 141,858 
Special mention— — — 483 163 455 1,101 44 
Substandard — 9,361 4,529 3,623 797 2,820 21,130 5,716 
Doubtful — — — — — 286 286 216 
Loss— — — — 1 1,271 1,272 1,229 
Total commercial and industrial
61,076 108,625 29,255 17,972 6,135 15,663 238,726 149,063 
Total commercial loans and leases held for investment$220,905 $202,382 $111,040 $91,253 $57,687 $89,279 $772,546 $189,756 
(1)    Represents loan balances guaranteed by the SBA.
Past Due Financing Receivables
The following tables present an analysis of the past due loans and leases HFI at amortized cost within the commercial portfolio segment:
December 31, 202330-59
Days		60-89
Days		90 or More
Days		Total Days Past Due
Equipment finance$1,265 $— $— $1,265 
Commercial real estate— 3,566 1,618 5,184 
Commercial and industrial (1)
12,261 1,632 1,515 15,408 
Total commercial loans and leases held for investment$13,526 $5,198 $3,133 $21,857 
December 31, 202230-59
Days		60-89
Days		90 or More
Days		Total Days Past Due
Equipment finance$3,172 $— $859 $4,031 
Commercial real estate— 102 — 102 
Commercial and industrial (1)
— — 1,643 1,643 
Total commercial loans and leases held for investment$3,172 $102 $2,502 $5,776 
(1)    Past due PPP loans are excluded from the tables.
The following table presents nonaccrual loans and leases:
Year Ended December 31,20232022
Nonaccrual(1)
Nonaccrual with no related ACL(2)
Nonaccrual(1)
Nonaccrual with no related ACL(2)
Unsecured personal$30,132 $— $16,255 $— 
Residential mortgages312 312 331 331 
Secured consumer217 — 188 — 
Total nonaccrual consumer loans held for investment30,661 312 16,774 331 
Equipment finance— — 898 39 
Commercial real estate9,663 2,187 1,018 1,018 
Commercial and industrial4,058 1,590 16,137 1,229 
Total nonaccrual commercial loans and leases held for investment (3)
13,721 3,777 18,053 2,286 
Total nonaccrual loans and leases held for investment$44,382 $4,089 $34,827 $2,617 
(1)    Excluding PPP loans, there were no loans and leases that were 90 days or more past due and accruing as of both December 31, 2023 and 2022.
(2)    Subset of total nonaccrual loans and leases.
(3)    Includes $10.4 million and $4.9 million in loan balances guaranteed by the SBA as of December 31, 2023 and 2022, respectively.

Year Ended December 31,20232022
Nonaccrual
Nonaccrual Ratios(1)
Nonaccrual
Nonaccrual Ratios(1)
Total nonaccrual consumer loans held for investment$30,661 0.7 %$16,774 0.4 %
Total nonaccrual commercial loans and leases held for investment13,721 2.0 %18,053 2.3 %
Total nonaccrual loans and leases held for investment
$44,382 0.9 %$34,827 0.7 %
(1)     Calculated as the ratio of nonaccruing loans and leases to loans and leases HFI at amortized cost.
Financing Receivable, Modified
The Company has the following programs to modify loans for borrowers experiencing financial difficulty. The table below presents the amortized cost of loans that were modified during the year ended December 31, 2023, by modification type and delinquency status:
Combination – Interest Payment Reduction and Term Extension
Debt Settlement
Unsecured personal
Current
$7,741 $70 
30-59 days
348 85 
60-89 days
172 669 
90 or more days
265 6,526 
Total loan modifications
$8,526 $7,350 
Percentage of total unsecured personal loans at amortized cost as of end of period
0.2 %0.2 %