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Loans and Allowance for Credit Losses for Loans (Tables)
 9 Months Ended
Sep. 30, 2022
Receivables [Abstract]  
Schedule of Loan Portfolio
The detail of the loan portfolio as of September 30, 2022 and December 31, 2021 was as follows: 
 September 30, 2022December 31, 2021
 (in thousands)
Loans:
Commercial and industrial:
Commercial and industrial $8,615,557 $5,411,601 
Commercial and industrial PPP loans *85,820 435,950 
Total commercial and industrial loans8,701,377 5,847,551 
Commercial real estate:
Commercial real estate24,493,445 18,935,486 
Construction3,571,818 1,854,580 
Total commercial real estate loans28,065,263 20,790,066 
Residential mortgage5,177,128 4,545,064 
Consumer:
Home equity467,135 400,779 
Automobile1,711,086 1,570,036 
Other consumer1,063,775 1,000,161 
Total consumer loans3,241,996 2,970,976 
Total loans$45,185,764 $34,153,657 
*Represents SBA Paycheck Protection Program (PPP) loans, net of unearned fees totaling $1.4 million and $12.1 million at September 30, 2022 and December 31, 2021, respectively.
Past Due, Non-Accrual and Current Loans by Loan Portfolio Class
The following table presents past due, current and non-accrual loans without an allowance for loan losses by loan portfolio class at September 30, 2022 and December 31, 2021:
Past Due and Non-Accrual Loans
 30-59  Days 
Past Due Loans		60-89  Days 
Past Due Loans		90 Days or More
Past Due Loans		Non-Accrual Loans
Total Past Due Loans
Current Loans
Total Loans		Non-Accrual Loans Without Allowance for Loan Losses
 (in thousands)
September 30, 2022
Commercial and industrial
$19,526 $2,188 $15,072 $135,187 $171,973 $8,529,404 $8,701,377 $5,043 
Commercial real estate:
Commercial real estate
6,196 383 15,082 67,319 88,980 24,404,465 24,493,445 64,260 
Construction— 12,969 — 61,098 74,067 3,497,751 3,571,818 14,941 
Total commercial real estate loans6,196 13,352 15,082 128,417 163,047 27,902,216 28,065,263 79,201 
Residential mortgage13,045 5,947 550 26,564 46,106 5,131,022 5,177,128 14,378 
Consumer loans:
Home equity321 168 312 2,845 3,646 463,489 467,135 123 
Automobile4,999 702 109 286 6,096 1,704,990 1,711,086 — 
Other consumer876 304 — 96 1,276 1,062,499 1,063,775 — 
Total consumer loans6,196 1,174 421 3,227 11,018 3,230,978 3,241,996 123 
Total$44,963 $22,661 $31,125 $293,395 $392,144 $44,793,620 $45,185,764 $98,745 
 Past Due and Non-Accrual Loans  
 
30-59
Days
Past Due Loans		60-89 
Days
Past Due Loans		90 Days or More
Past Due Loans		Non-Accrual Loans
Total Past Due Loans
Current Loans		Total LoansNon-Accrual Loans Without Allowance for Loan Losses
(in thousands)
December 31, 2021
Commercial and industrial$6,717 $7,870 $1,273 $99,918 $115,778 $5,731,773 $5,847,551 $9,066 
Commercial real estate:
Commercial real estate14,421 — 32 83,592 98,045 18,837,441 18,935,486 70,719 
Construction1,941 — — 17,641 19,582 1,834,998 1,854,580 — 
Total commercial real estate loans16,362 — 32 101,233 117,627 20,672,439 20,790,066 70,719 
Residential mortgage10,999 3,314 677 35,207 50,197 4,494,867 4,545,064 20,401 
Consumer loans:
Home equity242 98 — 3,517 3,857 396,922 400,779 4 
Automobile6,391 656 271 240 7,558 1,562,478 1,570,036 — 
Other consumer178 266 518 101 1,063 999,098 1,000,161 — 
Total consumer loans6,811 1,020 789 3,858 12,478 2,958,498 2,970,976 4 
Total$40,889 $12,204 $2,771 $240,216 $296,080 $33,857,577 $34,153,657 $100,190 
Risk Category of Loans
The following table presents the internal loan classification risk by loan portfolio class by origination year based on the most recent analysis performed at September 30, 2022 and December 31, 2021:
 Term Loans  
Amortized Cost Basis by Origination Year
September 30, 202220222021202020192018Prior to 2018Revolving Loans Amortized Cost BasisRevolving Loans Converted to Term LoansTotal
 (in thousands)
Commercial and industrial
Risk Rating:
Pass$1,451,283 $1,193,937 $663,575 $352,556 $279,803 $395,216 $4,076,834 $159 $8,413,362 
Special Mention15,224 3,433 20,292 5,246 9,320 3,852 56,973 9 114,349 
Substandard— 2,279 5,285 2,082 4,467 5,312 71,792 — 91,217 
Doubtful— — — 2,701 2,636 77,112 — — 82,449 
Total commercial and industrial$1,466,507 $1,199,649 $689,152 $362,585 $296,226 $481,492 $4,205,599 $168 $8,701,377 
Commercial real estate
Risk Rating:
Pass$5,326,845 $5,193,267 $3,280,227 $2,733,365 $1,553,479 $5,161,982 $284,891 $3,599 $23,537,657 
Special Mention102,150 63,572 90,429 43,812 75,328 155,873 15,074 — 546,239 
Substandard17,641 31,910 37,797 40,394 63,254 210,011 8,372 — 409,379 
Doubtful— — — — — 170 — — 170 
Total commercial real estate$5,446,636 $5,288,749 $3,408,453 $2,817,571 $1,692,061 $5,528,036 $308,337 $3,599 $24,493,445 
Construction
Risk Rating:
Pass$743,720 $607,441 $120,837 $30,246 $10,572 $17,069 $1,952,786 $— $3,482,671 
Special Mention12,917 — — — — 13,084 — 26,001 
Substandard— 11,376 — 982 17,599 20,183 — 50,140 
Doubtful— 643 — — 12,364 — — 13,006 
Total construction$756,637 $619,460 $120,837 $31,228 $10,572 $47,032 $1,986,053 $— $3,571,818 
 Term Loans  
Amortized Cost Basis by Origination Year
December 31, 202120212020201920182017Prior to 2017Revolving Loans Amortized Cost BasisRevolving Loans Converted to Term LoansTotal
 (in thousands)
Commercial and industrial
Risk Rating:
Pass$1,563,050 $743,165 $461,022 $362,748 $143,753 $337,713 $1,968,513 $247 $5,580,211 
Special Mention4,182 1,195 3,217 14,143 1,726 9,869 102,145 40 136,517 
Substandard8,248 4,823 3,139 7,077 910 408 19,642 109 44,356 
Doubtful— — 2,733 — 16,355 67,379 — — 86,467 
Total commercial and industrial$1,575,480 $749,183 $470,111 $383,968 $162,744 $415,369 $2,090,300 $396 $5,847,551 
Commercial real estate
Risk Rating:
Pass$4,517,917 $2,983,140 $2,702,580 $1,734,922 $1,474,770 $4,557,011 $195,851 $13,380 $18,179,571 
Special Mention7,700 50,019 46,911 44,187 65,623 143,540 50,168 — 408,148 
Substandard735 34,655 29,029 41,231 70,941 169,041 1,949 — 347,581 
Doubtful— — — — — 186 — — 186 
Total commercial real estate$4,526,352 $3,067,814 $2,778,520 $1,820,340 $1,611,334 $4,869,778 $247,968 $13,380 $18,935,486 
Construction
Risk Rating:
Pass$274,097 $98,609 $48,555 $32,781 $6,061 $28,419 $1,313,555 $— $1,802,077 
Special Mention4,131 — 1,009 — — — 18,449 — 23,589 
Substandard199 19 6 246 — 17,842 10,602 — 28,914 
Total construction$278,427 $98,628 $49,570 $33,027 $6,061 $46,261 $1,342,606 $— $1,854,580 
The following table presents the amortized cost in those loan classes based on payment activity by origination year as of September 30, 2022 and December 31, 2021.
 Term Loans  
Amortized Cost Basis by Origination Year
September 30, 202220222021202020192018Prior to 2018Revolving Loans Amortized Cost BasisRevolving Loans Converted to Term LoansTotal
 (in thousands)
Residential mortgage
Performing$1,040,542 $1,508,300 $586,418 $505,502 $351,579 $1,113,157 $63,694 $— $5,169,192 
90 days or more past due— — 129 1,508 2,526 3,773 — — 7,936 
Total residential mortgage $1,040,542 $1,508,300 $586,547 $507,010 $354,105 $1,116,930 $63,694 $— $5,177,128 
Consumer loans
Home equity
Performing$36,133 $12,728 $4,788 $5,279 $5,822 $15,602 $346,709 $39,105 $466,166 
90 days or more past due— — — — — — 424 545 969 
Total home equity36,133 12,728 4,788 5,279 5,822 15,602 347,133 39,650 467,135 
Automobile
Performing589,413 570,603 226,848 188,741 95,798 39,039 — — 1,710,442 
90 days or more past due75 111 78 167 132 81 — — 644 
Total automobile589,488 570,714 226,926 188,908 95,930 39,120 — — 1,711,086 
Other consumer
Performing21,110 2,934 7,262 7,476 7,560 16,546 1,000,795 — 1,063,683 
90 days or more past due— — — — — — 92 — 92 
Total other consumer21,110 2,934 7,262 7,476 7,560 16,546 1,000,887 — 1,063,775 
Total consumer$646,731 $586,376 $238,976 $201,663 $109,312 $71,268 $1,348,020 $39,650 $3,241,996 
 Term Loans  
Amortized Cost Basis by Origination Year
December 31, 202120212020201920182017Prior to 2017Revolving Loans Amortized Cost BasisRevolving Loans Converted to Term LoansTotal
 (in thousands)
Residential mortgage
Performing$1,448,602 $635,531 $572,911 $425,152 $368,164 $1,014,190 $70,342 $— $4,534,892 
90 days or more past due— 357 2,627 2,056 2,794 2,338 — — 10,172 
Total residential mortgage $1,448,602 $635,888 $575,538 $427,208 $370,958 $1,016,528 $70,342 $— $4,545,064 
Consumer loans
Home equity
Performing$13,847 $5,723 $6,994 $7,384 $5,359 $13,597 $303,888 $42,822 $399,614 
90 days or more past due— — — — — 35 536 594 1,165 
Total home equity13,847 5,723 6,994 7,384 5,359 13,632 304,424 43,416 400,779 
Automobile
Performing735,446 309,856 278,828 157,450 72,753 15,171 — — 1,569,504 
90 days or more past due129 — 78 163 81 81 — — 532 
Total automobile735,575 309,856 278,906 157,613 72,834 15,252 — — 1,570,036 
Other consumer
Performing2,949 6,717 6,468 7,017 1,009 14,483 961,027 — 999,670 
90 days or more past due— — — — — — 491 — 491 
Total other consumer2,949 6,717 6,468 7,017 1,009 14,483 961,518 — 1,000,161 
Total consumer$752,371 $322,296 $292,368 $172,014 $79,202 $43,367 $1,265,942 $43,416 $2,970,976 
Pre-Modification and Post-Modification Outstanding Recorded Investments and Non-PCI Loans that Subsequently Defaulted
The following tables present the pre- and post-modification amortized cost of loans by loan class modified as TDRs during the three and nine months ended September 30, 2022 and 2021. Post-modification amounts are presented as of September 30, 2022 and 2021.
Three Months Ended September 30,
20222021
Troubled Debt RestructuringsNumber
of
Contracts		Pre-Modification
Outstanding Recorded Investment		Post-Modification
Outstanding Recorded Investment		Number
of
Contracts		Pre-Modification
Outstanding Recorded Investment		Post-Modification
Outstanding Recorded Investment
 ($ in thousands)
Commercial and industrial65 $54,586 $54,747 4 $2,446 $2,414 
Commercial real estate:
Commercial real estate1 2,187 2,187 5 14,473 14,539 
Construction2 11,025 7,811 2 17,599 17,599 
Total commercial real estate
3 13,212 9,998 7 32,072 32,138 
Residential mortgage1 44 44 4 356 350 
Total69 $67,842 $64,789 15 $34,874 $34,902 
Nine Months Ended September 30,
20222021
Troubled Debt RestructuringsNumber
of
Contracts		Pre-Modification
Outstanding Recorded Investment		Post-Modification
Outstanding Recorded Investment		Number
of
Contracts		Pre-Modification
Outstanding Recorded Investment		Post-Modification
Outstanding Recorded Investment
 ($ in thousands)
Commercial and industrial79 $109,779 $105,495 16 $21,822 $19,060 
Commercial real estate:
Commercial real estate4 16,259 15,660 11 26,710 26,730 
Construction2 11,025 7,811 2 17,599 17,599 
Total commercial real estate
6 27,284 23,471 13 44,309 44,329 
Residential mortgage9 5,135 5,116 12 2,974 2,909 
Consumer1 125 123 1 170 163 
Total95 $142,323 $134,205 42 $69,275 $66,461 
Loans modified as TDRs within the previous 12 months and for which there was a payment default (90 or more days past due) for the three and nine months ended September 30, 2022 and 2021 were as follows:
 Three Months Ended September 30,
20222021
Troubled Debt Restructurings Subsequently DefaultedNumber of
Contracts		Recorded InvestmentNumber of
Contracts		Recorded
Investment
 ($ in thousands)
Commercial and industrial1 $42,771 — $— 
Commercial real estate2 5,207 1 419 
Residential mortgage1 1,071 1 129 
Total4 $49,049 2 $548 
 Nine Months Ended September 30,
20222021
Troubled Debt Restructurings Subsequently DefaultedNumber of
Contracts		Recorded InvestmentNumber of
Contracts		Recorded
Investment
 ($ in thousands)
Commercial and industrial1 $42,771 — $— 
Commercial real estate2 5,207 1 419 
Residential mortgage1 1,071 1 129 
Total4 $49,049 2 $548 
Summary of Collateral Dependent Loans
The following table presents collateral dependent loans by class as of September 30, 2022 and December 31, 2021:
 September 30,
2022		December 31,
2021
 (in thousands)
Collateral dependent loans:
Commercial and industrial *$129,776 $95,335 
Commercial real estate:
Commercial real estate73,862 110,174 
Construction41,726 — 
Total commercial real estate loans115,588 110,174 
Residential mortgage32,487 35,745 
Home equity— 4 
Total $277,851 $241,258 
*    The majority of the loans are collateralized by taxi medallions for all periods.
Summary of Allowance for Credit Losses
The following table summarizes the ACL for loans at September 30, 2022 and December 31, 2021: 
September 30,
2022		December 31,
2021
 (in thousands)
Components of allowance for credit losses for loans:
Allowance for loan losses$475,744 $359,202 
Allowance for unfunded credit commitments22,664 16,500 
Total allowance for credit losses for loans$498,408 $375,702 
Summary of Provision for Credit Losses
The following table summarizes the provision for credit losses for loans for the periods indicated:
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2022202120222021
 (in thousands)
Components of provision for credit losses for loans:
Provision for loan losses$1,315 $3,496 $42,883 $17,998 
Provision for unfunded credit commitments520 — 6,164 3,289 
Total provision for credit losses for loans$1,835 $3,496 $49,047 $21,287 
Summary of Activity in Allowance for Loan Losses
The following table details the activity in the allowance for loan losses by loan portfolio segment for the three and nine months ended September 30, 2022 and 2021: 
Commercial
and Industrial		Commercial
Real Estate		Residential
Mortgage		ConsumerTotal
 (in thousands)
Three Months Ended
September 30, 2022
Allowance for loan losses:
Beginning balance$144,539 $277,227 $29,889 $17,164 $468,819 
Loans charged-off(5,033)(4,000)— (962)(9,995)
Charged-off loans recovered 13,236 1,729 163 477 15,605 
Net recoveries (charge-offs)8,203 (2,271)163 (485)5,610 
Provision (credit) for loan losses1,309 (7,176)6,105 1,077 1,315 
Ending balance$154,051 $267,780 $36,157 $17,756 $475,744 
Three Months Ended
September 30, 2021
Allowance for loan losses:
Beginning balance$109,689 $189,139 $25,303 $15,193 $339,324 
Loans charged-off (1,248)— — (771)(2,019)
Charged-off loans recovered 514 29 228 955 1,726 
Net (charge-offs) recoveries(734)29 228 184 (293)
(Credit) provision for loan losses(5,078)10,553 (799)(1,180)3,496 
Ending balance$103,877 $199,721 $24,732 $14,197 $342,527 

Commercial
and Industrial		Commercial
Real Estate		Residential
Mortgage		ConsumerTotal
 (in thousands)
Nine Months Ended
September 30, 2022
Allowance for loan losses:
Beginning balance$103,090 $217,490 $25,120 $13,502 $359,202 
Allowance for PCD loans *33,452 36,618 206 43 70,319 
Loans charged-off(11,144)(4,173)(27)(2,513)(17,857)
Charged-off loans recovered 16,012 2,060 694 2,431 21,197 
Net recoveries (charge-offs)4,868 (2,113)667 (82)3,340 
Provision for loan losses12,641 15,785 10,164 4,293 42,883 
Ending balance$154,051 $267,780 $36,157 $17,756 $475,744 
Nine Months Ended
September 30, 2021
Allowance for loan losses:
Beginning balance$131,070 $164,113 $28,873 $16,187 $340,243 
Loans charged-off (19,283)(382)(139)(3,389)(23,193)
Charged-off loans recovered 2,781 763 576 3,359 7,479 
Net (charge-offs) recoveries(16,502)381 437 (30)(15,714)
(Credit) provision for loan losses(10,691)35,227 (4,578)(1,960)17,998 
Ending balance$103,877 $199,721 $24,732 $14,197 $342,527 
*    Represents the allowance for acquired PCD loans, net of PCD loan charge-offs totaling $62.4 million in the second quarter 2022 related to the Bank Leumi USA acquisition.
Summary of Allocation of Allowance for Loan Losses and Related Loans by Loan Portfolio Segment Disaggregated Based on Allowance Measurement Methodology
The following table represents the allocation of the allowance for loan losses and the related loans by loan portfolio segment disaggregated based on the allowance measurement methodology at September 30, 2022 and December 31, 2021.
Commercial
and Industrial		Commercial
Real Estate		Residential
Mortgage		ConsumerTotal
 (in thousands)
September 30, 2022
Allowance for loan losses:
Individually evaluated for credit losses
$89,822 $8,544 $4,592 $100 $103,058 
Collectively evaluated for credit losses
64,229 259,236 31,565 17,656 372,686 
Total$154,051 $267,780 $36,157 $17,756 $475,744 
Loans:
Individually evaluated for credit losses
$151,415 $149,775 $42,911 $1,507 $345,608 
Collectively evaluated for credit losses
8,549,962 27,915,488 5,134,217 3,240,489 44,840,156 
Total$8,701,377 $28,065,263 $5,177,128 $3,241,996 $45,185,764 
December 31, 2021
Allowance for loan losses:
Individually evaluated for credit losses
$64,359 $6,277 $470 $390 $71,496 
Collectively evaluated for credit losses
38,731 211,213 24,650 13,112 287,706 
Total$103,090 $217,490 $25,120 $13,502 $359,202 
Loans:
Individually evaluated for credit losses
$119,760 $134,135 $42,469 $2,431 $298,795 
Collectively evaluated for credit losses
5,727,791 20,655,931 4,502,595 2,968,545 33,854,862 
Total$5,847,551 $20,790,066 $4,545,064 $2,970,976 $34,153,657