Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of Impact of Adoption of ASU 2016-13

The following table illustrates the day-one financial statement impact of the adoption of ASU 2016-13 on January 1, 2020:

(in thousands)
ASSETS	Pre-ASU 2016-13 Adoption		Cumulative Effect of Adoption		As Reported Under ASU 2016-13
Loans held-for-investment and securities	$	4,257,086	$	—	$	4,257,086
Allowance for credit losses	—		(16,692)		(16,692)
Loans held-for-investment and securities, net	$	4,257,086	$	(16,692)	$	4,240,394
LIABILITIES
Liability for off-balance sheet credit losses (1)	$	—	$	1,780	$	1,780
STOCKHOLDERS’ EQUITY
Cumulative earnings	$	162,076	$	(18,472)	$	143,604

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(1)Represents expected loss on unfunded commitments.