Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments (Tables)

9 Months Ended

Sep. 30, 2020

Receivables [Abstract]

Loans and Allowance for Loan Losses

The composition of loans at amortized cost basis broken out by risk-based segment at September 30, 2020 and December 31, 2019 is presented in the following table:

(Dollars in thousands)	September 30, 2020		December 31, 2019
Global fund banking	$	19,584,518	$	17,696,794
Investor dependent:
Early stage	1,470,941		1,624,221
Mid stage	1,626,794		1,047,398
Later stage	2,013,934		1,663,576
Total investor dependent	5,111,669		4,335,195
Cash flow dependent:
Sponsor led buyout	2,062,243		2,185,497
Other	2,600,157		2,238,741
Total cash flow dependent	4,662,400		4,424,238
Private bank (1) (5)	4,424,899		3,492,269
Balance sheet dependent	1,698,220		1,286,153
Premium wine (1) (5)	1,081,963		1,062,264
Other (1) (5)	48,206		867,723
SBA loans	1,802,016		—
Total loans (2) (3) (4)	$	38,413,891	$	33,164,636
Allowance for credit losses	(512,958)		(304,924)
Net loans	$	37,900,933	$	32,859,712

(1)    As of September 30, 2020, as a result of enhanced portfolio characteristic definitions for our risk-based segments, loans in the amount of $411.2 million and $50.3 million that would have been reported in Other under historical definitions, are now being reported in our Private Bank and Premium Wine risk-based segments, respectively.

(2)    Total loans at amortized cost is net of unearned income of $222 million and $163 million at September 30, 2020 and December 31, 2019, respectively.

(3)     Included within our total loan portfolio are credit card loans of $329 million and $395 million at September 30, 2020 and December 31, 2019, respectively.

(4)     Included within our total loan portfolio are construction loans of $118 million and $183 million at September 30, 2020 and December 31, 2019, respectively.

(5)     Of our total loans, the table below includes those secured by real estate at amortized cost at September 30, 2020 and

December 31, 2019 and were comprised of the following:

(Dollars in thousands)	September 30, 2020		December 31, 2019
Real estate secured loans:
Private bank:
Loans for personal residence	$	3,179,148	$	2,829,880
Loans to eligible employees	449,551		401,396
Home equity lines of credit	50,929		55,461
Other	137,320		38,880
Total private bank loans secured by real estate	$	3,816,948	$	3,325,617
Premium wine	831,182		820,730
Other	60,501		—
Total real estate secured loans	$	4,708,631	$	4,146,347

Composition of Loans, Net of Unearned Income, Broken Out by Portfolio Segment and Class of Financing Receivable

The following table summarizes the credit quality indicators, broken out by risk-based segment, as of September 30, 2020 and December 31, 2019:

(Dollars in thousands)	Pass		Criticized		Nonperforming (Nonaccrual)		Total
September 30, 2020:
Global fund banking	$	19,576,723	$	7,782	$	13	$	19,584,518
Investor dependent:
Early stage	1,296,789		154,420		19,732		1,470,941
Mid stage	1,449,525		165,642		11,627		1,626,794
Later stage	1,795,229		180,130		38,575		2,013,934
Total investor dependent	4,541,543		500,192		69,934		5,111,669
Cash flow dependent:
Sponsor led buyout	1,827,943		212,708		21,592		2,062,243
Other	2,314,453		279,419		6,285		2,600,157
Total cash flow dependent	4,142,396		492,127		27,877		4,662,400
Private bank	4,395,531		23,936		5,432		4,424,899
Balance sheet dependent	1,565,597		131,947		676		1,698,220
Premium wine	941,511		138,777		1,675		1,081,963
Other	48,041		61		104		48,206
SBA loans	1,663,383		138,633		—		1,802,016
Total loans (1)	$	36,874,725	$	1,433,455	$	105,711	$	38,413,891
December 31, 2019:
Global fund banking	$	17,708,550	$	4,247	$	—	$	17,712,797
Investor dependent
Early stage	1,436,022		206,310		11,093		1,653,425
Mid stage	924,002		125,451		17,330		1,066,783
Later stage	1,490,561		201,819		6,296		1,698,676
Total investor dependent	3,850,585		533,580		34,719		4,418,884
Cash flow dependent
Sponsor led buyout	2,039,847		118,588		44,585		2,203,020
Other	2,141,766		93,400		17,681		2,252,847
Total cash flow dependent	4,181,613		211,988		62,266		4,455,867
Private bank	3,472,138		11,601		5,480		3,489,219
Balance sheet dependent	1,231,961		65,343		—		1,297,304
Premium wine	1,026,973		36,335		204		1,063,512
Other	890,059		62		—		890,121
Total loans (1)	$	32,361,879	$	863,156	$	102,669	$	33,327,704

(1)As of September 30, 2020, loan amounts are disclosed using the amortized cost basis as a result of the adoption of CECL. Prior period loan amounts are disclosed using the gross basis.

Credit Quality Indicators, Broken out by Portfolio Segment and Class of Financing Receivables

The following table summarizes the credit quality indicators, broken out by risk-based segment and vintage year, as of September 30, 2020:

	Term Loans by Origination Year
(Dollars in thousands)	2020		2019		2018		2017		2016		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total
Global fund banking:
Risk rating:
Pass	$	271,164	$	156,714	$	70,084	$	36,907	$	2,552	$	11,588	$	19,022,934	$	4,780	$	19,576,723
Criticized	8		—		—		—		—		—		994		6,780		7,782
Nonperforming	—		8		—		—		—		—		5		—		13
Total global fund banking	$	271,172	$	156,722	$	70,084	$	36,907	$	2,552	$	11,588	$	19,023,933	$	11,560	$	19,584,518
Investor dependent:
Early stage:
Risk rating:
Pass	$	589,224	$	452,550	$	140,448	$	37,911	$	2,430	$	390	$	73,199	$	637	$	1,296,789
Criticized	20,744		68,381		36,841		10,878		2,530		363		13,750		933		154,420
Nonperforming	2,466		8,870		6,956		463		—		4		973		—		19,732
Total early stage	$	612,434	$	529,801	$	184,245	$	49,252	$	4,960	$	757	$	87,922	$	1,570	$	1,470,941
Mid stage:
Risk rating:
Pass	$	726,708	$	344,458	$	209,372	$	39,603	$	7,510	$	2,725	$	116,655	$	2,494	$	1,449,525
Criticized	59,623		43,386		32,668		12,725		1,966		—		15,274		—		165,642
Nonperforming	2		2,558		5,405		3,519		—		—		143		—		11,627
Total mid stage	$	786,333	$	390,402	$	247,445	$	55,847	$	9,476	$	2,725	$	132,072	$	2,494	$	1,626,794
Later stage:
Risk rating:
Pass	$	790,085	$	473,800	$	178,768	$	60,009	$	562	$	9,110	$	277,911	$	4,984	$	1,795,229
Criticized	17,108		72,028		30,280		2,666		—		8,708		49,340		—		180,130
Nonperforming	17,506		1,886		12,434		—		—		—		6,749		—		38,575
Total later stage	$	824,699	$	547,714	$	221,482	$	62,675	$	562	$	17,818	$	334,000	$	4,984	$	2,013,934
Total investor dependent	$	2,223,466	$	1,467,917	$	653,172	$	167,774	$	14,998	$	21,300	$	553,994	$	9,048	$	5,111,669
Cash flow dependent:
Sponsor led buyout:
Risk rating:
Pass	$	534,579	$	601,938	$	326,172	$	226,326	$	50,267	$	—	$	88,661	$	—	$	1,827,943
Criticized	43,221		70,050		53,043		21,400		12,238		—		12,756		—		212,708
Nonperforming	33		11,907		—		7,200		—		—		2,452		—		21,592
Total sponsor led buyout	$	577,833	$	683,895	$	379,215	$	254,926	$	62,505	$	—	$	103,869	$	—	$	2,062,243
Other
Risk rating:
Pass	$	465,243	$	574,231	$	189,501	$	116,918	$	39,627	$	346	$	928,587	$	—	$	2,314,453
Criticized	9,589		55,118		74,916		956		416		—		138,424		—		279,419
Nonperforming	—		—		3,845		—		—		—		2,440		—		6,285
Total other	$	474,832	$	629,349	$	268,262	$	117,874	$	40,043	$	346	$	1,069,451	$	—	$	2,600,157
Total cash flow dependent	$	1,052,665	$	1,313,244	$	647,477	$	372,800	$	102,548	$	346	$	1,173,320	$	—	$	4,662,400
Private bank:
Risk rating:
Pass	$	1,191,024	$	1,212,000	$	420,440	$	397,847	$	342,594	$	463,198	$	368,107	$	321	$	4,395,531
Criticized	1,456		5,549		3,040		1,201		5,101		6,802		787		—		23,936
Nonperforming	—		520		2,475		—		—		1,702		735		—		5,432
Total private bank	$	1,192,480	$	1,218,069	$	425,955	$	399,048	$	347,695	$	471,702	$	369,629	$	321	$	4,424,899
Balance sheet dependent:
Risk rating:

Pass	$	374,768	$	202,185	$	237,529	$	31,838	$	—	$	—	$	717,771	$	1,506	$	1,565,597
Criticized	60,238		8,877		5,559		610		—		—		56,663		—		131,947
Nonperforming	—		—		—		—		—		675		1		—		676
Total balance sheet dependent	$	435,006	$	211,062	$	243,088	$	32,448	$	—	$	675	$	774,435	$	1,506	$	1,698,220
Premium wine:
Risk rating:
Pass	$	154,624	$	181,416	$	70,297	$	84,221	$	102,297	$	156,397	$	154,685	$	37,574	$	941,511
Criticized	14,001		26,446		35,898		338		13,674		8,210		40,210		—		138,777
Nonperforming	—		—		—		—		1,662		—		13		—		1,675
Total Premium wine	$	168,625	$	207,862	$	106,195	$	84,559	$	117,633	$	164,607	$	194,908	$	37,574	$	1,081,963
Other:
Risk rating:
Pass	$	1,474	$	23,286	$	13,092	$	1,900	$	—	$	80	$	8,209	$	—	$	48,041
Criticized	22		—		—		—		—		—		39		—		61
Nonperforming	—		104		—		—		—		—		—		—		104
Total other	$	1,496	$	23,390	$	13,092	$	1,900	$	—	$	80	$	8,248	$	—	$	48,206
SBA loans:
Risk rating:
Pass	$	1,663,383	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1,663,383
Criticized	138,633		—		—		—		—		—		—		—		138,633
Nonperforming	—		—		—		—		—		—		—		—		—
Total SBA loans	$	1,802,016	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1,802,016
Total loans	$	7,146,926	$	4,598,266	$	2,159,063	$	1,095,436	$	585,426	$	670,298	$	22,098,467	$	60,009	$	38,413,891

Activity in Allowance for Loan Losses Broken out by Portfolio Segment

The following tables summarize the activity relating to our allowance for credit losses for loans for the three and nine months ended September 30, 2020 and 2019, broken out by risk-based segment:

Three months ended September 30, 2020	Beginning Balance June 30, 2020		Charge-offs		Recoveries		(Reduction) Provision for Credit Losses		Foreign Currency Translation Adjustments		Ending Balance September 30, 2020
(Dollars in thousands)
Global fund banking	$	53,723	$	—	$	—	$	(14,734)	$	—	$	38,989
Investor dependent:
Early stage	148,270		(14,950)		2,511		(33,171)		(101)		102,559
Mid stage	56,393		(7,162)		697		12,578		(88)		62,418
Later stage	87,604		(6,205)		600		15,792		(80)		97,711
Total investor dependent	292,267		(28,317)		3,808		(4,801)		(269)		262,688
Cash flow dependent:
Sponsor led buyout	54,853		(130)		—		(3,062)		—		51,661
Other	43,100		—		—		(2,779)		—		40,321
Total cash flow dependent	97,953		(130)		—		(5,841)		—		91,982
Private bank	91,345		—		15		(14,881)		—		76,479
Balance sheet dependent	24,728		—		—		4,341		—		29,069
Premium wine	12,319		—		—		(1,914)		—		10,405
Other	13,635		(2)		531		(14,898)		1,600		866
SBA loans	3,858		—		—		(1,378)		—		2,480
Total allowance for credit losses	$	589,828	$	(28,449)	$	4,354	$	(54,106)	$	1,331	$	512,958

Three months ended September 30, 2019	Beginning Balance June 30, 2019		Charge-offs		Recoveries		Provision for (Reduction) Credit Losses		Foreign Currency Translation Adjustments		Ending Balance September 30, 2019
(Dollars in thousands)
Global fund banking	$	101,253	$	—	$	1,200	$	1,485	$	(22)	$	103,916
Investor dependent:
Early stage	30,969		(7,524)		1,760		5,783		(85)		30,903
Mid stage	28,264		(16,581)		385		5,778		(85)		17,761
Later stage	37,940		(11,449)		276		17,513		(259)		44,021
Total investor dependent	97,173		(35,554)		2,421		29,074		(429)		92,685
Cash flow dependent:
Sponsor led buyout	32,131		—		—		9,663		(143)		41,651
Other	24,551		—		250		(3,199)		47		21,649
Total cash flow dependent	56,682		—		250		6,464		(96)		63,300
Private Bank	20,397		—		15		1,307		(19)		21,700
Balance sheet dependent	17,256		—		—		(2,496)		37		14,797
Premium wine	4,227		—		—		27		—		4,254
Other	4,900		(1,266)		2		124		(2)		3,758
Total allowance for credit losses	$	301,888	$	(36,820)	$	3,888	$	35,985	$	(531)	$	304,410

Nine months ended September 30, 2020	Beginning Balance December 31, 2019		Impact of adopting ASC 326		Charge-offs		Recoveries		Provision for (Reduction) Credit Losses		Foreign Currency Translation Adjustments		Ending Balance September 30, 2020
(Dollars in thousands)
Global fund banking	$	107,285	$	(69,888)	$	—	$	—	$	1,772	$	(180)	$	38,989
Investor dependent:
Early stage	26,245		39,911		(26,897)		6,474		57,494		(668)		102,559
Mid stage	15,936		6,963		(20,147)		5,303		54,584		(221)		62,418
Later stage	40,189		24,750		(20,189)		600		52,880		(519)		97,711
Total investor dependent	82,370		71,624		(67,233)		12,377		164,958		(1,408)		262,688
Cash flow dependent:
Sponsor led buyout	42,939		3,151		(2,754)		2,845		5,613		(133)		51,661
Other	25,159		(3,056)		(3,385)		1		21,727		(125)		40,321
Total cash flow dependent	68,098		95		(6,139)		2,846		27,340		(258)		91,982
Private bank	21,551		12,615		(1,616)		15		44,194		(280)		76,479
Balance sheet dependent	12,722		(1,364)		(4,900)		—		22,685		(74)		29,069
Premium wine	5,296		3,650		(192)		—		1,691		(40)		10,405
Other	7,602		8,732		(320)		944		(18,426)		2,334		866
SBA loans	—		—		—		—		2,480		—		2,480
Total allowance for credit losses	$	304,924	$	25,464	$	(80,400)	$	16,182	$	246,694	$	94	$	512,958

Nine months ended September 30, 2019	Beginning Balance December 31, 2018		Charge-offs		Recoveries		Provision for (Reduction) Credit Losses		Foreign Currency Translation Adjustments		Ending Balance September 30, 2019
(Dollars in thousands)
Global fund banking	$	93,781	$	(2,047)	$	1,200	$	11,304	$	(322)	$	103,916
Investor dependent:
Early stage	25,885		(16,819)		5,685		16,547		(395)		30,903
Mid stage	20,999		(36,492)		1,288		31,443		523		17,761
Later stage	25,217		(11,449)		2,053		28,616		(416)		44,021
Total investor dependent	72,101		(64,760)		9,026		76,606		(288)		92,685
Cash flow dependent:
Sponsor led buyout	44,274		(2,402)		—		(253)		32		41,651
Other	21,754		(716)		4,647		(4,083)		47		21,649
Total cash flow dependent	66,028		(3,118)		4,647		(4,336)		79		63,300
Private Bank	20,583		(1,019)		240		1,999		(103)		21,700
Balance sheet dependent	21,707		—		—		(7,135)		225		14,797
Premium wine	3,646		—		—		611		(3)		4,254
Other	3,057		(1,311)		20		1,905		87		3,758
Total allowance for credit losses	$	280,903	$	(72,255)	$	15,133	$	80,954	$	(325)	$	304,410

The following table summarizes the activity relating to our allowance for credit losses for unfunded credit commitments for the three and nine months ended September 30, 2020 and 2019:

	Three months ended September 30,				Nine months ended September 30,
(Dollars in thousands)	2020		2019		2020		2019
Allowance for credit losses: unfunded credit commitments, beginning balance	$	99,294	$	62,664	$	67,656	$	55,183
Impact of adopting ASC 326	—		—		22,826		—
Provision for credit losses	2,019		551		11,132		8,079
Foreign currency translation adjustments	202		(107)		(99)		(154)
Allowance for credit losses: unfunded credit commitments, ending balance (1)	$	101,515	$	63,108	$	101,515	$	63,108

(1)The “allowance for credit losses: unfunded credit commitments” is included as a component of “other liabilities” on our unaudited interim consolidated balance sheets. See Note 15 — “Off-Balance Sheet Arrangements, Guarantees and Other Commitments” of the “Notes to Interim Consolidated Financial Statements (unaudited)” under Part I, Item 1 of this report for additional disclosures related to our commitments to extend credit.

Financing Receivable, Past Due

The following table summarizes the aging of our loans broken out by risk-based segment as of September 30, 2020 and December 31, 2019:

(Dollars in thousands)	30 - 59   Days Past   Due		60 - 89   Days Past   Due		Equal to or Greater Than 90   Days Past   Due		Total Past   Due		Current		Total		Loans Past Due 90 Days or More Still Accruing Interest
September 30, 2020:
Global fund banking	$	6,285	$	—	$	14	$	6,299	$	19,578,219	$	19,584,518	$	—
Investor dependent:
Early stage	605		323		367		1,295		1,469,646		1,470,941		—
Mid stage	250		145		211		606		1,626,188		1,626,794		—
Later stage	51		—		—		51		2,013,883		2,013,934		—
Total investor dependent	906		468		578		1,952		5,109,717		5,111,669		—
Cash flow dependent:
Sponsor led buyout	—		—		—		—		2,062,243		2,062,243		—
Other	742		3		—		745		2,599,412		2,600,157		—
Total cash flow dependent	742		3		—		745		4,661,655		4,662,400		—
Private bank	4		4		—		8		4,424,891		4,424,899		—
Balance sheet dependent	2,851		7		—		2,858		1,695,362		1,698,220		—
Premium wine	3,117		4,355		—		7,472		1,074,491		1,081,963		—
Other	23		—		155		178		48,028		48,206		—
SBA loans	—		—		—		—		1,802,016		1,802,016		—
Total loans (1)	$	13,928	$	4,837	$	747	$	19,512	$	38,394,379	$	38,413,891	$	—
December 31, 2019:
Global fund banking	$	97,739	$	383	$	3,150	$	101,272	$	17,611,525	$	17,712,797	$	3,150
Investor dependent:
Early stage	1,307		22,062		723		24,092		1,629,333		1,653,425		—
Mid stage	10,025		6,999		—		17,024		1,049,759		1,066,783		—
Later stage	8,113		500		10,569		19,182		1,679,494		1,698,676		—
Total investor dependent	19,445		29,561		11,292		60,298		4,358,586		4,418,884		—
Cash flow dependent
Sponsor led buyout	—		—		—		—		2,203,020		2,203,020		—
Other	2,426		3,061		2		5,489		2,247,358		2,252,847		—
Total cash flow dependent	2,426		3,061		2		5,489		4,450,378		4,455,867		—
Private bank	6,582		2,049		1,544		10,175		3,479,044		3,489,219		365
Balance sheet dependent	2,731		—		—		2,731		1,294,573		1,297,304		—
Premium wine	8,435		3,170		—		11,605		1,051,907		1,063,512		—
Other	17		—		—		17		890,104		890,121		—
Total loans (1)	$	137,375	$	38,224	$	15,988	$	191,587	$	33,136,117	$	33,327,704	$	3,515

(1)As of September 30, 2020, loan amounts are disclosed using the amortized cost basis as a result of the adoption of CECL. Prior period loan amounts are disclosed using the gross basis.

Financing Receivable, Nonaccrual

The following tables summarize our nonaccrual loan activity by risk-based segment for the three and nine months ended September 30, 2020 and 2019:

Three months ended September 30, 2020	Beginning Balance June 30, 2020		Additions		Paydowns and Other Reductions		Charge-offs		Ending Balance September 30, 2020
(Dollars in thousands)
Global fund banking	$	9	$	6	$	(2)	$	—	$	13
Investor dependent:
Early stage	24,422		6,269		(2,790)		(8,169)		19,732
Mid stage	8,119		10,290		(292)		(6,490)		11,627
Later stage	10,498		36,779		(3,500)		(5,202)		38,575
Total investor dependent	43,039		53,338		(6,582)		(19,861)		69,934
Cash flow dependent:
Sponsor led buyout	21,658		172		(238)		—		21,592
Other	5,317		12,356		(11,388)		—		6,285
Total cash flow dependent	26,975		12,528		(11,626)		—		27,877
Private bank	6,517		3,348		(4,433)		—		5,432
Balance sheet dependent	11,842		675		(11,841)		—		676
Premium wine	1,681		—		(6)		—		1,675
Other	61		105		(62)		—		104
SBA loans	4,202		—		(4,202)		—		—
Total nonaccrual loans	$	94,326	$	70,000	$	(38,754)	$	(19,861)	$	105,711

Three months ended September 30, 2019	Beginning Balance June 30, 2019		Additions		Paydowns and Other Reductions		Charge-offs		Ending Balance September 30, 2019
(Dollars in thousands)
Global fund banking	$	—	$	—	$	—	$	—	$	—
Investor dependent:
Early stage	10,290		12,409		(2,172)		(1,569)		18,958
Mid stage	28,699		6		(8,151)		(15,323)		5,231
Later stage	38,346		2,216		(6,462)		(6,837)		27,263
Total investor dependent	77,335		14,631		(16,785)		(23,729)		51,452
Cash flow dependent:
Sponsor led buyout	8,365		37,294		(640)		—		45,019
Other	79		13		—		—		92
Total cash flow dependent	8,444		37,307		(640)		—		45,111
Private bank	5,644		1,531		(86)		—		7,089
Balance sheet dependent	4,974		—		(4,974)		—		—
Premium wine	244		174		(25)		—		393
Other	—		—		—		—		—
Total nonaccrual loans (1)	$	96,641	$	53,643	$	(22,510)	$	(23,729)	$	104,045

Nine months ended September 30, 2020	Beginning Balance December 31, 2019		Additions		Paydowns and Other Reductions		Charge-offs		Ending Balance September 30, 2020
(Dollars in thousands)
Global fund banking	$	—	$	15	$	(2)	$	—	$	13
Investor dependent:
Early stage	11,093		28,218		(8,695)		(10,884)		19,732
Mid stage	17,330		22,875		(1,079)		(27,499)		11,627
Later stage	6,296		48,962		(8,276)		(8,407)		38,575
Total investor dependent	34,719		100,055		(18,050)		(46,790)		69,934
Cash flow dependent:
Sponsor led buyout	44,585		21,830		(42,199)		(2,624)		21,592
Other	17,681		20,936		(32,314)		(18)		6,285
Total cash flow dependent	62,266		42,766		(74,513)		(2,642)		27,877
Private bank	5,480		5,982		(5,449)		(581)		5,432
Balance sheet dependent	—		17,417		(16,741)		—		676
Premium wine	204		1,686		(23)		(192)		1,675
Other	—		339		(235)		—		104
SBA loans	—		4,202		(4,202)		—		—
Total nonaccrual loans (1)	$	102,669	$	172,462	$	(119,215)	$	(50,205)	$	105,711

Nine months ended September 30, 2019	Beginning Balance December 31, 2018		Additions		Paydowns and Other Reductions		Charge-offs		Ending Balance September 30, 2019
(Dollars in thousands)
Global fund banking	$	3,700	$	2,247	$	(3,900)	$	(2,047)	$	—
Investor dependent:
Early stage	7,616		25,221		(10,615)		(3,264)		18,958
Mid stage	4,751		42,497		(9,541)		(32,476)		5,231
Later stage	11,385		32,786		(10,071)		(6,837)		27,263
Total investor dependent	23,752		100,504		(30,227)		(42,577)		51,452
Cash flow dependent:
Sponsor led buyout	39,534		37,294		(29,407)		(2,402)		45,019
Other	17,156		92		(16,690)		(466)		92
Total cash flow dependent	56,690		37,386		(46,097)		(2,868)		45,111
Private bank	3,919		3,411		(174)		(67)		7,089
Balance sheet dependent	5,004		238		(5,242)		—		—
Premium wine	285		174		(66)		—		393
Other	792		—		(792)		—		—
Total nonaccrual loans (1)	$	94,142	$	143,960	$	(86,498)	$	(47,559)	$	104,045

(1)For the three and nine months ended September 30, 2020, loan amounts are disclosed using the amortized cost basis as a result of the adoption of CECL. Prior period loan amounts are disclosed using the gross basis.

The following table summarizes our nonaccrual loans with no allowance for credit loss at September 30, 2020 and December 31, 2019:

	September 30, 2020				December 31, 2019
(Dollars in thousands)	Nonaccrual Loans		Nonaccrual Loans with no Allowance for Credit Loss		Nonaccrual Loans		Nonaccrual Loans with no Allowance for Credit Loss
Global fund banking	$	13	$	8	$	—	$	—
Investor dependent:
Early stage	19,732		10		11,093		460
Mid stage	11,627		—		17,330		274
Later stage	38,575		—		6,296		—
Total investor dependent	69,934		10		34,719		734
Cash flow dependent:
Sponsor led buyout	21,592		—		44,585		—
Other	6,285		705		17,681		2,782
Total cash flow dependent	27,877		705		62,266		2,782
Private bank	5,432		4,912		5,480		3,714
Balance sheet dependent	676		—		—		—
Premium wine	1,675		998		204		—
Other	104		104		—		—
SBA loans	—		—		—		—
Total nonaccrual loans (1)	$	105,711	$	6,737	$	102,669	$	7,230

(1)As of September 30, 2020, loan amounts are disclosed using the amortized cost basis as a result of the adoption of CECL. Prior period loan amounts are disclosed using the gross basis.

Summary of Loans Modified in Troubled Debt Restructurings ("TDRs") by Portfolio Segment and Class of Financing Receivables

The following table summarizes our loans modified in TDRs, broken out by risk-based segment, at September 30, 2020 and December 31, 2019:

(Dollars in thousands)	September 30, 2020		December 31, 2019
Loans modified in TDRs:
Global fund banking	$	—	$	—
Investor dependent:
Early stage	7,771		9,471
Mid stage	3,781		5,189
Later stage	3,297		23,318
Total investor dependent	14,849		37,978
Cash flow dependent:
Sponsor led buyout	30,799		55,443
Other	855		—
Total cash flow dependent	31,654		55,443
Private bank	—		2,104
Balance sheet dependent	675		—
Premium wine	3,341		13,457
Other	—		—
SBA loans	—		—
Total loans modified in TDRs (1)	$	50,519	$	108,982

(1)As of September 30, 2020, loan amounts are disclosed using the amortized cost basis as a result of the adoption of CECL. Prior period loan amounts are disclosed using the gross basis.

Recorded Investment in Loans Modified in TDRs

The following table summarizes the recorded investment in loans modified in TDRs, broken out by risk-based segment, for modifications made during the three and nine months ended September 30, 2020 and 2019:

	Three months ended September 30,				Nine months ended September 30,
(Dollars in thousands)	2020		2019		2020		2019
Loans modified in TDRs during the period:
Global fund banking	$	—	$	—	$	—	$	—
Investor dependent:
Early stage	4,043		2,205		4,193		2,205
Mid stage	—		—		209		3,480
Later stage	—		6,361		3,297		17,324
Total investor dependent	4,043		8,566		7,699		23,009
Cash flow dependent:
Sponsor led buyout	21,611		—		21,611		48,604
Other	—		—		855		—
Total cash flow dependent	21,611		—		22,466		48,604
Private bank	—		—		—		1,826
Balance sheet dependent	675		—		675		—
Premium wine	—		—		998		—
Other	—		—		—		—
SBA loans	—		—		—		—
Total loans modified in TDRs during the period (1) (2)	$	26,329	$	8,566	$	31,838	$	73,439

(1)For the three and nine months ended September 30, 2020, loan amounts are disclosed using the amortized cost basis as a result of the adoption of CECL. Prior period loan amounts are disclosed using the gross basis.

(2)There were $13.6 million and $31.1 million of partial charge-offs for the three and nine months ended September 30, 2020, respectively, and $3.7 million and $9.2 million of partial charge-offs for the three and nine months ended September 30, 2019.

Troubled Debt Restructurings On Financing Receivables Subsequently Defaulted Table

The following table summarizes the recorded investment in loans modified in TDRs within the previous 12 months that subsequently defaulted during the three and nine months ended September 30, 2020 and 2019:

	Three months ended September 30,				Nine months ended September 30,
(Dollars in thousands)	2020		2019		2020		2019
TDRs modified within the previous 12 months that defaulted during the period:
Global fund banking	$	—	$	—	$	—	$	—
Investor dependent:
Early stage	—		—		—		—
Mid stage	—		—		—		—
Later stage	—		10,963		—		10,963
Total investor dependent	—		10,963		—		10,963
Cash flow dependent:
Sponsor led buyout	—		37,294		—		37,294
Other	—		—		—		—
Total cash flow dependent	—		37,294		—		37,294
Private bank	—		—		—		—
Balance sheet dependent	—		—		—		—
Premium wine	998		—		998		—
Other	—		—		—		—
SBA loans	—		—		—		—
Total TDRs modified within the previous 12 months that defaulted in the period (1)	$	998	$	48,257	$	998	$	48,257

(1)For the three and nine months ended September 30, 2020, loan amounts are disclosed using the amortized cost basis as a result of the adoption of CECL. Prior period loan amounts are disclosed using the gross basis.