LOANS AND LEASES RECEIVABLE AND ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LEASES (Tables)

9 Months Ended

Sep. 30, 2024

Receivables [Abstract]

Schedule of Loans and Leases Receivable

The following table presents loans and leases receivable as of September 30, 2024 and December 31, 2023.

(amounts in thousands)	September 30, 2024		December 31, 2023
Loans and leases receivable:
Commercial:
Commercial and industrial:
Specialized lending (1)	$	5,468,507	$	5,006,693
Other commercial and industrial (2)	1,204,426		1,279,147
Multifamily	2,115,978		2,138,622
Commercial real estate owner occupied	981,904		797,319
Commercial real estate non-owner occupied	1,326,591		1,177,650
Construction	174,509		166,393
Total commercial loans and leases receivable	11,271,915		10,565,824
Consumer:
Residential real estate	500,786		484,435
Manufactured housing	34,481		38,670
Installment:
Personal	453,739		555,533
Other	266,362		319,393
Total consumer loans receivable	1,255,368		1,398,031
Loans and leases receivable	12,527,283		11,963,855
Loans receivable, mortgage finance, at fair value	1,250,413		897,912
Allowance for credit losses on loans and leases	(133,158)		(135,311)
Total loans and leases receivable, net of allowance for credit losses on loans and leases (3)	$	13,644,538	$	12,726,456

(1)Includes direct finance and sales-type equipment leases of $254.3 million and $205.7 million at September 30, 2024 and December 31, 2023, respectively.

(2)Includes PPP loans of $30.5 million and $74.7 million at September 30, 2024 and December 31, 2023, respectively.

(3)Includes deferred (fees) costs and unamortized (discounts) premiums, net of $(18.1) million and $(22.7) million at September 30, 2024 and December 31, 2023, respectively.

Loans and Leases Receivable by Loan Type and Performance Status

The following tables summarize loans and leases receivable by loan and lease type and performance status as of September 30, 2024 and December 31, 2023:

	September 30, 2024
(amounts in thousands)	30-59 Days past due (1)		60-89 Days past due (1)		90 Days or more past due (2)		Total past due		Loans and leases not past due (3)(4)		Total loans and leases (4)
Commercial and industrial, including specialized lending	$	540	$	660	$	3,519	$	4,719	$	6,637,746	$	6,642,465
Multifamily	—		—		11,834		11,834		2,104,144		2,115,978
Commercial real estate owner occupied	—		391		8,591		8,982		972,922		981,904
Commercial real estate non-owner occupied	293		701		62		1,056		1,325,535		1,326,591
Construction	—		—		—		—		174,509		174,509
Residential real estate	3,320		5,944		3,995		13,259		487,527		500,786
Manufactured housing	623		200		2,263		3,086		31,395		34,481
Installment	5,266		7,297		6,328		18,891		701,210		720,101
Total	$	10,042	$	15,193	$	36,592	$	61,827	$	12,434,988	$	12,496,815

	December 31, 2023
(amounts in thousands)	30-59 Days past due (1)		60-89 Days past due (1)		90 Days or more past due (2)		Total past due		Loans and leases not past due (3)(4)		Total loans and leases (4)
Commercial and industrial, including specialized lending	$	1,516	$	322	$	4,153	$	5,991	$	6,205,114	$	6,211,105
Multifamily	16,003		—		—		16,003		2,122,619		2,138,622
Commercial real estate owner occupied	449		3,814		5,827		10,090		787,229		797,319
Commercial real estate non-owner occupied	16,653		—		—		16,653		1,160,997		1,177,650
Construction	—		—		—		—		166,393		166,393
Residential real estate	10,504		2,255		3,764		16,523		467,912		484,435
Manufactured housing	1,152		343		2,869		4,364		34,306		38,670
Installment	9,255		7,866		7,211		24,332		850,594		874,926
Total	$	55,532	$	14,600	$	23,824	$	93,956	$	11,795,164	$	11,889,120

(1)Includes past due loans and leases that are accruing interest because collection is considered probable.

(2)Includes loans amounting to $0.4 million and $0.5 million as of September 30, 2024 and December 31, 2023, respectively, that are still accruing interest because collection is considered probable.

(3)Loans and leases where next payment due is less than 30 days from the report date. The tables exclude PPP loans of $30.5 million, of which $0.5 million were 30-59 days past due and $17.1 million were 60 days or more past due as of September 30, 2024, and PPP loans of $74.7 million, of which $0.7 million were 30-59 days past due and $48.5 million were 60 days or more past due as of December 31, 2023. Claims for guarantee payments are submitted to the SBA for eligible PPP loans that are more than 60 days past due.

(4)Includes PCD loans of $127.0 million and $157.2 million at September 30, 2024 and December 31, 2023, respectively.

Amortized Cost of Loans and Leases on Nonaccrual Status

The following table presents the amortized cost of loans and leases held for investment on nonaccrual status.

	September 30, 2024						December 31, 2023
(amounts in thousands)	Nonaccrual loans with no related allowance		Nonaccrual loans with related allowance		Total nonaccrual loans		Nonaccrual loans with no related allowance		Nonaccrual loans with related allowance		Total nonaccrual loans
Commercial and industrial, including specialized lending	$	4,598	$	17	$	4,615	$	3,365	$	1,071	$	4,436
Multifamily	11,834		—		11,834		—		—		—
Commercial real estate owner occupied	4,590		4,023		8,613		5,869		—		5,869
Commercial real estate non-owner occupied	763		—		763		—		—		—
Residential real estate	7,467		530		7,997		6,685		117		6,802
Manufactured housing	—		1,869		1,869		—		2,331		2,331
Installment	—		6,328		6,328		—		7,211		7,211
Total	$	29,252	$	12,767	$	42,019	$	15,919	$	10,730	$	26,649

Schedule of Allowance for Credit Losses on Loans and Leases

The changes in the ACL on loans and leases by loan and lease type for the three and nine months ended September 30, 2024 and 2023 are presented in the tables below.

(amounts in thousands)	Commercial and industrial (1)(2)		Multifamily		Commercial real estate owner occupied		Commercial real estate non-owner occupied		Construction		Residential real estate		Manufactured housing		Installment		Total
Three Months Ended September 30, 2024
Ending Balance, June 30, 2024	$	23,721	$	20,652	$	8,431	$	17,966	$	1,856	$	5,884	$	4,094	$	49,832	$	132,436
Charge-offs	(6,538)		(2,167)		(4)		—		—		(19)		—		(12,496)		(21,224)
Recoveries	1,482		—		—		—		3		40		—		2,655		4,180
Provision (benefit) for credit losses on loans and leases	6,526		(395)		2,486		(663)		(253)		(68)		(13)		10,146		17,766
Ending Balance, September 30, 2024	$	25,191	$	18,090	$	10,913	$	17,303	$	1,606	$	5,837	$	4,081	$	50,137	$	133,158
Nine Months Ended September 30, 2024
Ending Balance, December 31, 2023	$	23,503	$	16,343	$	9,882	$	16,859	$	1,482	$	6,586	$	4,239	$	56,417	$	135,311
Charge-offs	(19,282)		(4,073)		(26)		—		—		(38)		—		(43,356)		(66,775)
Recoveries	4,889		—		—		—		10		61		—		8,092		13,052
Provision (benefit) for credit losses on loans and leases	16,081		5,820		1,057		444		114		(772)		(158)		28,984		51,570
Ending Balance, September 30, 2024	$	25,191	$	18,090	$	10,913	$	17,303	$	1,606	$	5,837	$	4,081	$	50,137	$	133,158

(amounts in thousands)	Commercial and industrial (1)(2)		Multifamily		Commercial real estate owner occupied		Commercial real estate non-owner occupied		Construction		Residential real estate		Manufactured housing		Installment		Total
Three Months Ended September 30, 2023
Ending Balance, June 30, 2023	$	29,092	$	15,400	$	10,215	$	13,495	$	2,639	$	6,846	$	4,338	$	57,631	$	139,656
Charge-offs	(9,008)		(1,999)		(39)		—		—		(42)		—		(18,932)		(30,020)
Recoveries	6,034		—		—		—		—		29		—		6,459		12,522
Provision (benefit) for credit losses on loans and leases	(1,132)		2,469		187		2,324		491		(31)		(258)		13,005		17,055
Ending Balance, September 30, 2023	$	24,986	$	15,870	$	10,363	$	15,819	$	3,130	$	6,802	$	4,080	$	58,163	$	139,213
Nine Months Ended September 30, 2023
Ending Balance, December 31, 2022	$	17,582	$	14,541	$	6,454	$	11,219	$	1,913	$	6,094	$	4,430	$	68,691	$	130,924
Allowance for credit losses on FDIC PCD loans, net of charge-offs (3)	2,576		—		—		—		—		—		—		—		2,576
Charge-offs	(9,600)		(3,447)		(39)		(4,527)		—		(69)		—		(52,031)		(69,713)
Recoveries	6,439		—		34		27		116		34		—		11,350		18,000
Provision (benefit) for credit losses on loans and leases	7,989		4,776		3,914		9,100		1,101		743		(350)		30,153		57,426
Ending Balance, September 30, 2023	$	24,986	$	15,870	$	10,363	$	15,819	$	3,130	$	6,802	$	4,080	$	58,163	$	139,213

(1)    Includes specialized lending.

(2)    PPP loans include an embedded credit enhancement from the SBA, which guarantees 100% of the principal and interest owed by the borrower provided that the SBA’s eligibility criteria are met. As a result, the eligible PPP loans do not have an ACL.

(3)    Represents $8.7 million of allowance for credit losses on PCD loans recognized upon acquisition of a venture banking loan portfolio (included within specialized lending) from the FDIC on June 15, 2023, net of $6.2 million of charge-offs for certain of these PCD loans upon acquisition.

Summary of Loans Modified in Troubled Debt Restructurings and Related Recorded Investment

The following table presents the amortized cost of loans that were modified to borrowers experiencing financial difficulty for the three and nine months ended September 30, 2024 and 2023, disaggregated by class of financing receivable and type of modification granted.

	Three Months Ended September 30, 2024
(dollars in thousands)	Interest Rate Reduction		Term Extension		Payment Deferral		Debt Forgiveness		Interest Rate Reduction and Term Extension		Total		Percentage of Total by Financing Class
Commercial and industrial, including specialized lending	$	—	$	—	$	4,800	$	—	$	—	$	4,800	0.07	%
Manufactured housing	—		18		—		—		79		97		0.28	%
Personal installment	266		1,770		55		37		—		2,128		0.47	%
Total	$	266	$	1,788	$	4,855	$	37	$	79	$	7,025

	Three Months Ended September 30, 2023
(dollars in thousands)	Term Extension		Payment Deferral		Debt Forgiveness		Interest Rate Reduction and Term Extension		Total		Percentage of Total by Financing Class
Manufactured housing	$	—	$	—	$	—	$	99	$	99	0.25	%
Personal installment	3,863		210		28		—		4,101		0.42	%
Total	$	3,863	$	210	$	28	$	99	$	4,200

	Nine Months Ended September 30, 2024
(dollars in thousands)	Interest Rate Reduction		Term Extension		Payment Deferral		Debt Forgiveness		Interest Rate Reduction and Term Extension		Total		Percentage of Total by Financing Class
Commercial and industrial, including specialized lending	$	—	$	2,000	$	8,049	$	—	$	—	$	10,049	0.15	%
Multifamily	—		—		10,713		—		—		10,713		0.51	%
Residential real estate	—		—		52		—		—		52		0.01	%
Manufactured housing	—		96		—		—		128		224		0.65	%
Personal installment	266		4,970		178		93		—		5,507		1.21	%
Total	$	266	$	7,066	$	18,992	$	93	$	128	$	26,545

	Nine Months Ended September 30, 2023
(dollars in thousands)	Term Extension		Payment Deferral		Debt Forgiveness		Interest Rate Reduction and Term Extension		Total		Percentage of Total by Financing Class
Commercial real estate owner occupied	$	169	$	—	$	—	$	—	$	169	0.02	%
Manufactured housing	6		—		—		113		119		0.30	%
Personal installment	10,910		442		222		—		11,574		1.20	%
Total	$	11,085	$	442	$	222	$	113	$	11,862

The following table summarizes the impacts of loan modifications made to borrowers experiencing financial difficulty for the three and nine months ended September 30, 2024 and 2023.

	Three Months Ended September 30, 2024					Three Months Ended September 30, 2023
	Weighted Average					Weighted Average
(dollars in thousands)	Interest Rate Reduction (%)	Term Extension (in months)	Payment Deferral (in months)	Debt Forgiven		Interest Rate Reduction (%)	Term Extension (in months)	Payment Deferral (in months)	Debt Forgiven
Commercial and industrial, including specialized lending	—%	0	10	$	—	—%	0	0	$	—
Manufactured housing	3.8	115	0	—		4.4	31	0	—
Personal installment	13.6	5	7	12		—	6	6	20

	Nine Months Ended September 30, 2024						Nine Months Ended September 30, 2023
	Weighted Average						Weighted Average
(dollars in thousands)	Interest Rate Reduction (%)		Term Extension (in months)	Payment Deferral (in months)	Debt Forgiven		Interest Rate Reduction (%)		Term Extension (in months)	Payment Deferral (in months)	Debt Forgiven
Commercial and industrial, including specialized lending	—	%	1	8	$	—	—	%	0	0	$	—
Multifamily	—		0	5	—		—		0	0	—
Commercial real estate owner occupied	—		0	0	—		—		4	0	—
Residential real estate	—		0	5	—		—		0	0	—
Manufactured housing	4.0		78	0	—		4.3		30	0	—
Personal installment	13.6		5	7	153		—		6	6	183

The performance of loans made to borrowers experiencing financial difficulty in which modifications were made is closely monitored to understand the effectiveness of modification efforts. Loans are considered to be in payment default at 90 days or more past due. The following table presents an aging analysis of loan modifications made to borrowers experiencing financial difficulty in the twelve months ended September 30, 2024 and the nine months ended ended September 30, 2023.

	September 30, 2024
(dollars in thousands)	30-59 Days past due		60-89 Days past due		90 Days or more past due		Current		Total
Commercial and industrial, including specialized lending	$	—	$	—	$	230	$	22,395	$	22,625
Multifamily	—		—		—		10,713		10,713
Residential real estate	—		—		—		52		52
Manufactured housing	19		24		37		269		349
Personal installment	436		331		665		7,393		8,825
Total	$	455	$	355	$	932	$	40,822	$	42,564

	September 30, 2023 (1)
(dollars in thousands)	30-59 Days past due		60-89 Days past due		90 Days or more past due		Current		Total
Commercial real estate owner occupied	$	—	$	—	$	169	$	—	$	169
Manufactured housing	—		—		—		119		119
Personal installment	837		565		354		9,820		11,576
Total	$	837	$	565	$	523	$	9,939	$	11,864

(1)    Customers adopted ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures (“ASU 2022-02”) effective January 1, 2023, therefore, the September 30, 2023 balances only include loans since ASU 2022-02 became effective.

Credit Ratings of Covered and Non-Covered Loan Portfolio

The following tables present the credit ratings of loans and leases receivable and current period gross write-offs as of September 30, 2024 and December 31, 2023.

	Term Loans Amortized Cost Basis by Origination Year as of September 30, 2024
(amounts in thousands)	2024		2023		2022		2021		2020		Prior		Revolving loans amortized cost basis		Revolving loans converted to term		Total
Commercial and industrial loans and leases, including specialized lending:
Pass	$	1,288,705	$	790,316	$	1,591,974	$	328,477	$	114,778	$	32,650	$	1,952,229	$	392,242	$	6,491,371
Special mention	12,755		250		30,397		3,926		—		67		29,747		4,417		81,559
Substandard	—		958		7,832		12,076		3,576		37,379		4,076		3,638		69,535
Doubtful	—		—		—		—		—		—		—		—		—
Total commercial and industrial loans and leases	$	1,301,460	$	791,524	$	1,630,203	$	344,479	$	118,354	$	70,096	$	1,986,052	$	400,297	$	6,642,465
Commercial and industrial loans and leases charge-offs:
Three Months Ended September 30, 2024 (1)	$	94	$	—	$	13	$	52	$	742	$	5,637	$	—	$	—	$	6,538
Nine Months Ended September 30, 2024 (1)	312		702		5,685		4,147		2,429		6,007		—		—		19,282
Multifamily loans:
Pass	$	76,380	$	823	$	1,202,986	$	301,976	$	125,476	$	303,992	$	—	$	—	$	2,011,633
Special mention	—		—		6,770		—		—		42,662		—		—		49,432
Substandard	—		—		—		—		—		54,913		—		—		54,913
Doubtful	—		—		—		—		—		—		—		—		—
Total multifamily loans	$	76,380	$	823	$	1,209,756	$	301,976	$	125,476	$	401,567	$	—	$	—	$	2,115,978
Multifamily loans charge-offs:
Three Months Ended September 30, 2024	$	—	$	—	$	—	$	—	$	—	$	2,167	$	—			$	2,167
Nine Months Ended September 30, 2024	—		—		—		—		—		4,073		—		—		4,073
Commercial real estate owner occupied loans:
Pass	$	218,625	$	64,100	$	238,103	$	197,298	$	52,820	$	147,520	$	7,640	$	74	$	926,180
Special mention	—		—		—		—		—		10,924		—		11,197		22,121
Substandard	—		2,944		703		15,310		—		14,646		—		—		33,603
Doubtful	—		—		—		—		—		—		—		—		—
Total commercial real estate owner occupied loans	$	218,625	$	67,044	$	238,806	$	212,608	$	52,820	$	173,090	$	7,640	$	11,271	$	981,904
Commercial real estate owner occupied loans charge-offs:
Three Months Ended September 30, 2024	$	—	$	—	$	—	$	—	$	—	$	4	$	—	$	—	$	4
Nine Months Ended September 30, 2024	—		—		—		—		—		26		—		—		26
Commercial real estate non-owner occupied loans:
Pass	$	100,123	$	30,427	$	413,675	$	97,555	$	182,789	$	424,192	$	214	$	—	$	1,248,975
Special mention	—		12,000		4,308		—		—		438		—		—		16,746
Substandard	—		—		—		—		701		60,169		—		—		60,870
Doubtful	—		—		—		—		—		—		—		—		—
Total commercial real estate non-owner occupied loans	$	100,123	$	42,427	$	417,983	$	97,555	$	183,490	$	484,799	$	214	$	—	$	1,326,591
Commercial real estate non-owner occupied loans charge-offs:
Three Months Ended September 30, 2024	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Nine Months Ended September 30, 2024	—		—		—		—		—		—		—		—		—
Construction loans:
Pass	$	9,235	$	18,651	$	133,969	$	—	$	—	$	4,486	$	—	$	—	$	166,341
Special mention	—		8,168		—		—		—		—		—		—		8,168
Substandard	—		—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—		—
Total construction loans	$	9,235	$	26,819	$	133,969	$	—	$	—	$	4,486	$	—	$	—	$	174,509

	Term Loans Amortized Cost Basis by Origination Year as of September 30, 2024
(amounts in thousands)	2024		2023		2022		2021		2020		Prior		Revolving loans amortized cost basis		Revolving loans converted to term		Total
Construction loans charge-offs:
Three Months Ended September 30, 2024	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Nine Months Ended September 30, 2024	—		—		—		—		—		—		—		—		—
Total commercial loans and leases receivable	$	1,705,823	$	928,637	$	3,630,717	$	956,618	$	480,140	$	1,134,038	$	1,993,906	$	411,568	$	11,241,447
Total commercial loans and leases receivable charge-offs:
Three Months Ended September 30, 2024	$	94	$	—	$	13	$	52	$	742	$	7,808	$	—	$	—	$	8,709
Nine Months Ended September 30, 2024	312		702		5,685		4,147		2,429		10,106		—		—		23,381
Residential real estate loans:
Performing	$	41,200	$	21,946	$	165,563	$	124,381	$	5,957	$	80,700	$	53,214	$	—	$	492,961
Non-performing	141		280		1,394		1,695		233		4,082		—		—		7,825
Total residential real estate loans	$	41,341	$	22,226	$	166,957	$	126,076	$	6,190	$	84,782	$	53,214	$	—	$	500,786
Residential real estate loans charge-offs:
Three Months Ended September 30, 2024	$	—	$	—	$	—	$	—	$	—	$	19	$	—	$	—	$	19
Nine Months Ended September 30, 2024	—		—		—		—		—		38		—		—		38
Manufactured housing loans:
Performing	$	—	$	—	$	—	$	—	$	—	$	32,969	$	—	$	—	$	32,969
Non-performing	—		—		—		—		—		1,512		—		—		1,512
Total manufactured housing loans	$	—	$	—	$	—	$	—	$	—	$	34,481	$	—	$	—	$	34,481
Manufactured housing loans charge-offs:
Three Months Ended September 30, 2024	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Nine Months Ended September 30, 2024	—		—		—		—		—		—		—		—		—
Installment loans:
Performing	$	81,762	$	174,647	$	240,433	$	109,349	$	35,925	$	28,770	$	43,757	$	8	$	714,651
Non-performing	39		1,880		1,552		1,119		308		442		110		—		5,450
Total installment loans	$	81,801	$	176,527	$	241,985	$	110,468	$	36,233	$	29,212	$	43,867	$	8	$	720,101
Installment loans charge-offs:
Three Months Ended September 30, 2024	$	425	$	2,432	$	5,219	$	3,311	$	553	$	556	$	—	$	—	$	12,496
Nine Months Ended September 30, 2024	2,307		5,837		17,450		12,099		2,286		3,377		—		—		43,356
Total consumer loans	$	123,142	$	198,753	$	408,942	$	236,544	$	42,423	$	148,475	$	97,081	$	8	$	1,255,368
Total consumer loans charge-offs:
Three Months Ended September 30, 2024	$	425	$	2,432	$	5,219	$	3,311	$	553	$	575	$	—	$	—	$	12,515
Nine Months Ended September 30, 2024	2,307		5,837		17,450		12,099		2,286		3,415		—		—		43,394
Loans and leases receivable	$	1,828,965	$	1,127,390	$	4,039,659	$	1,193,162	$	522,563	$	1,282,513	$	2,090,987	$	411,576	$	12,496,815
Loans and leases receivable charge-offs:
Three Months Ended September 30, 2024	$	519	$	2,432	$	5,232	$	3,363	$	1,295	$	8,383	$	—	$	—	$	21,224
Nine Months Ended September 30, 2024	$	2,619	$	6,539	$	23,135	$	16,246	$	4,715	$	13,521	$	—	$	—	$	66,775

(1)    Charge-offs for the three and nine months ended September 30, 2024 included $0.8 million and $5.0 million, respectively, of commercial and industrial loans originated under the PPP that were subsequently determined to be ineligible for SBA forgiveness and guarantee and were ultimately deemed uncollectible.

	Term Loans Amortized Cost Basis by Origination Year as of December 31, 2023
(amounts in thousands)	2023		2022		2021		2020		2019		Prior		Revolving loans amortized cost basis		Revolving loans converted to term		Total
Commercial and industrial loans and leases, including specialized lending:
Pass	$	1,184,923	$	1,909,592	$	483,039	$	170,384	$	59,213	$	63,480	$	1,722,559	$	384,947	$	5,978,137
Special mention	18,000		3,377		5,127		1,986		—		595		7,916		2,903		39,904
Substandard	14,738		39,258		61,533		26,660		4,803		42,062		4,010		—		193,064
Doubtful	—		—		—		—		—		—		—		—		—
Total commercial and industrial loans and leases	$	1,217,661	$	1,952,227	$	549,699	$	199,030	$	64,016	$	106,137	$	1,734,485	$	387,850	$	6,211,105
Commercial and industrial loans and leases charge-offs:
For the Year Ended December 31, 2023 (1)(2)	$	1,483	$	381	$	3,169	$	10,348	$	24	$	1,510	$	—	$	—	$	16,915
Multifamily loans:
Pass	$	845	$	1,229,198	$	371,016	$	127,493	$	43,046	$	253,806	$	—	$	—	$	2,025,404
Special mention	—		—		—		—		6,468		67,035		—		—		73,503
Substandard	—		—		—		—		—		39,715		—		—		39,715
Doubtful	—		—		—		—		—		—		—		—		—
Total multifamily loans	$	845	$	1,229,198	$	371,016	$	127,493	$	49,514	$	360,556	$	—	$	—	$	2,138,622
Multifamily loans charge-offs:
For the Year Ended December 31, 2023	$	—	$	—	$	—	$	—	$	—	$	3,574	$	—	$	—	$	3,574
Commercial real estate owner occupied loans:
Pass	$	41,011	$	254,878	$	180,289	$	77,821	$	44,382	$	120,248	$	—	$	11,318	$	729,947
Special mention	—		—		15,432		—		35,691		47		—		—		51,170
Substandard	—		—		—		—		347		15,855		—		—		16,202
Doubtful	—		—		—		—		—		—		—		—		—
Total commercial real estate owner occupied loans	$	41,011	$	254,878	$	195,721	$	77,821	$	80,420	$	136,150	$	—	$	11,318	$	797,319
Commercial real estate owner occupied loans charge-offs:
For the Year Ended December 31, 2023	$	—	$	—	$	—	$	—	$	—	$	39	$	—	$	—	$	39
Commercial real estate non-owner occupied loans:
Pass	$	12,906	$	325,881	$	109,521	$	152,227	$	88,586	$	367,996	$	—	$	—	$	1,057,117
Special mention	—		—		—		20,702		—		9,148		—		—		29,850
Substandard	—		10,910		—		—		8,113		71,660		—		—		90,683
Doubtful	—		—		—		—		—		—		—		—		—
Total commercial real estate non-owner occupied loans	$	12,906	$	336,791	$	109,521	$	172,929	$	96,699	$	448,804	$	—	$	—	$	1,177,650
Commercial real estate non-owner occupied loans charge-offs:
For the Year Ended December 31, 2023	$	—	$	—	$	—	$	—	$	—	$	4,527	$	—	$	—	$	4,527
Construction loans:
Pass	$	17,594	$	138,797	$	2,567	$	—	$	—	$	4,580	$	—	$	1,100	$	164,638
Special mention	1,755		—		—		—		—		—		—		—		1,755
Substandard	—		—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—		—
Total construction loans	$	19,349	$	138,797	$	2,567	$	—	$	—	$	4,580	$	—	$	1,100	$	166,393
Construction loans charge-offs:
For the Year Ended December 31, 2023	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total commercial loans and leases receivable	$	1,291,772	$	3,911,891	$	1,228,524	$	577,273	$	290,649	$	1,056,227	$	1,734,485	$	400,268	$	10,491,089

	Term Loans Amortized Cost Basis by Origination Year as of December 31, 2023
(amounts in thousands)	2023		2022		2021		2020		2019		Prior		Revolving loans amortized cost basis		Revolving loans converted to term		Total
Total commercial loans and leases receivable charge-offs:
For the Year Ended December 31, 2023	$	1,483	$	381	$	3,169	$	10,348	$	24	$	9,650	$	—	$	—	$	25,055
Residential real estate loans:
Performing	$	22,613	$	173,424	$	131,621	$	6,458	$	15,508	$	71,433	$	56,844	$	—	$	477,901
Non-performing	—		350		1,236		229		545		3,993		181		—		6,534
Total residential real estate loans	$	22,613	$	173,774	$	132,857	$	6,687	$	16,053	$	75,426	$	57,025	$	—	$	484,435
Residential real estate loans charge-offs:
For the Year Ended December 31, 2023	$	—	$	—	$	—	$	—	$	—	$	69	$	—	$	—	$	69
Manufactured housing loans:
Performing	$	—	$	—	$	—	$	—	$	98	$	36,464	$	—	$	—	$	36,562
Non-performing	—		—		—		—		—		2,108		—		—		2,108
Total manufactured housing loans	$	—	$	—	$	—	$	—	$	98	$	38,572	$	—	$	—	$	38,670
Manufactured housing loans charge-offs:
For the Year Ended December 31, 2023	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Installment loans:
Performing	$	253,958	$	307,566	$	158,381	$	50,354	$	39,953	$	3,448	$	51,480	$	—	$	865,140
Non-performing	2,634		4,102		1,751		546		477		86		190		—		9,786
Total installment loans	$	256,592	$	311,668	$	160,132	$	50,900	$	40,430	$	3,534	$	51,670	$	—	$	874,926
Installment loans charge-offs:
For the Year Ended December 31, 2023	$	7,728	$	24,605	$	23,984	$	5,590	$	6,797	$	1,238	$	—	$	—	$	69,942
Total consumer loans	$	279,205	$	485,442	$	292,989	$	57,587	$	56,581	$	117,532	$	108,695	$	—	$	1,398,031
Total consumer loans charge-offs:
For the Year Ended December 31, 2023	$	7,728	$	24,605	$	23,984	$	5,590	$	6,797	$	1,307	$	—	$	—	$	70,011
Loans and leases receivable	$	1,570,977	$	4,397,333	$	1,521,513	$	634,860	$	347,230	$	1,173,759	$	1,843,180	$	400,268	$	11,889,120
Loans and leases receivable charge-offs:
For the Year Ended December 31, 2023	$	9,211	$	24,986	$	27,153	$	15,938	$	6,821	$	10,957	$	—	$	—	$	95,066

(1)    Excludes $6.2 million of charge-offs for certain PCD loans against $8.7 million of allowance for credit losses on PCD loans recognized upon acquisition of a venture banking loan portfolio (included within specialized lending) from the FDIC on June 15, 2023. These PCD loans were originated in years 2016 to 2022.

(2)    Charge-offs for the year ended December 31, 2023 included $10.7 million of commercial and industrial loans originated under the PPP that were subsequently determined to be ineligible for SBA forgiveness and guarantee and were ultimately deemed uncollectible.

Schedule of Loan Purchases and Sales

Purchases and sales of loans held for investment were as follows for the three and nine months ended September 30, 2024 and 2023:

	Three Months Ended September 30,				Nine Months Ended September 30,
(amounts in thousands)	2024		2023		2024		2023
Purchases (1)
Specialized lending	$	—	$	—	$	—	$	631,252
Other commercial and industrial	602		4,977		8,005		15,285
Commercial real estate owner occupied	—		—		—		2,867
Residential real estate	—		—		—		4,238
Personal installment (2)	69,976		—		113,217		—
Other installment (2)	—		96,758		—		96,758
Total	$	70,578	$	101,735	$	121,222	$	750,400
Sales (3)
Specialized lending (4)	$	—	$	—	$	—	$	287,185
Other commercial and industrial (5)	—		6,725		23,708		54,083
Commercial real estate owner occupied (5)	—		5,671		—		24,522
Commercial real estate non-owner occupied	—		—		—		16,000
Personal installment	53,021		—		53,021		—
Other installment	—		—		—		154,042
Total	$	53,021	$	12,396	$	76,729	$	535,832

(1)Amounts reported in the above table are the unpaid principal balance at time of purchase. The purchase price was 95.9% and 100.0% of the loans’ unpaid principal balance for the three months ended September 30, 2024 and 2023, respectively. The purchase price was 97.5% and 87.7% of the loans’ unpaid principal balance for the nine months ended September 30, 2024 and 2023, respectively.

(2)Installment loan purchases for the three and nine months ended September 30, 2024 consist of third-party originated unsecured consumer loans. None of the loans held for investment are considered sub-prime at the time of origination. Customers considers sub-prime borrowers to be those with FICO scores below 660.

(3)For the three months ended September 30, 2024 and 2023, sales of loans held for investment resulted in no gain or loss and net losses of $0.2 million, respectively, included in net gain (loss) on sale of loans and leases in the consolidated statements of income. For the nine months ended September 30, 2024 and 2023, sales of loans held for investment resulted in net losses of $0.2 million and net gains of $0.2 million, respectively.

(4)Includes a loss of $5.0 million from the sale of $670.0 million of short-term syndicated capital call lines of credit ($280.7 million of loans held for investment in unpaid principal balance and $389.3 million of unfunded loan commitments) included in the consolidated statement of income for the nine months ended September 30, 2023.

(5)Primarily sales of SBA loans for the three and nine months ended September 30, 2023.