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Loans and Allowance for Credit Losses: Loans and Unfunded Credit Commitments (Tables)
 12 Months Ended
Dec. 31, 2022
Receivables [Abstract]  
Composition of Loans at Amortized Cost Basis Broken Out by Risk-Based Segment
The composition of loans at amortized cost basis broken out by class of financing receivable at December 31, 2022, and December 31, 2021, respectively, is presented in the following table:
December 31,
(Dollars in millions)20222021
Global fund banking$41,269 $37,958 
Investor dependent:
Early stage1,950 1,593 
Growth stage4,763 3,951 
Total investor dependent6,713 5,544 
Cash flow dependent — SLBO1,966 1,798 
Innovation C&I8,609 6,673 
Private bank10,477 8,743 
CRE2,583 2,670 
Premium wine1,158 985 
Other C&I1,019 1,257 
Other433 317 
PPP23 331 
Total loans (1) (2) (3)$74,250 $66,276 
ACL(636)(422)
Net loans$73,614 $65,854 
(1)Total loans at amortized cost is net of unearned income, deferred fees and costs and net unamortized premiums and discounts of $283 million and $250 million at December 31, 2022, and December 31, 2021, respectively.
(2)Included within our total loan portfolio are credit card loans of $555 million and $583 million at December 31, 2022, and December 31, 2021, respectively.
(3)Included within our total loan portfolio are construction loans of $539 million and $367 million at December 31, 2022, and December 31, 2021, respectively.
Credit Quality Indicators, Broken Out by Risk-Based Segments and Vintage Year
The following tables summarize the credit quality indicators, broken out by class of financing receivable and vintage year, as of December 31, 2022, and December 31, 2021.
Term Loans by Origination Year
December 31, 2022 (Dollars in millions)20222021202020192018PriorRevolving LoansRevolving Loans Converted to Term LoansUnallocated (1)Total
Global fund banking:
Risk rating:
Pass $543 $90 $55 $29 $1 $5 $40,539 $3 $— $41,265 
Criticized— — — — — — 4 — — 4 
Nonperforming— — — — — — — — — — 
Total global fund banking$543 $90 $55 $29 $1 $5 $40,543 $3 $— $41,269 
Investor dependent:
Early stage:
Risk rating:
Pass $910 $480 $44 $12 $1 $— $182 $— $— $1,629 
Criticized130 120 18 5 — — 31 — — 304 
Nonperforming5 7 1 2 — — 2 — — 17 
Total early stage$1,045 $607 $63 $19 $1 $— $215 $— $— $1,950 
Growth stage:
Risk rating:
Pass $2,358 $1,175 $283 $34 $8 $2 $300 $5 $— $4,165 
Criticized186 233 81 5 3 3 32 — — 543 
Nonperforming20 31 — — — — 4 — — 55 
Total growth stage$2,564 $1,439 $364 $39 $11 $5 $336 $5 $— $4,763 
Total investor dependent$3,609 $2,046 $427 $58 $12 $5 $551 $5 $— $6,713 
Cash flow dependent — SLBO:
Risk rating:
Pass $930 $550 $169 $162 $14 $19 $37 $— $— $1,881 
Criticized17 34 16 — 2 11 5 — — 85 
Nonperforming— — — — — — — — — — 
Total cash flow dependent — SLBO$947 $584 $185 $162 $16 $30 $42 $— $— $1,966 
Innovation C&I:
Risk rating:
Pass $2,554 $1,309 $495 $157 $5 $35 $3,152 $— $— $7,707 
Criticized65 224 168 33 11 — 373 — — 874 
Nonperforming7 — — — — — 21 — — 28 
Total innovation C&I$2,626 $1,533 $663 $190 $16 $35 $3,546 $— $— $8,609 
Private bank:
Risk rating:
Pass $2,782 $2,754 $1,718 $912 $427 $978 $832 $12 $— $10,415 
Criticized— 16 — 2 1 14 4 — — 37 
Nonperforming— — 1 2 1 20 1 — — 25 
Total private bank$2,782 $2,770 $1,719 $916 $429 $1,012 $837 $12 $— $10,477 
CRE
Risk rating:
Pass$519 $276 $193 $211 $144 $802 $102 $5 $— $2,252 
Criticized— 11 39 133 14 112 17 — — 326 
Nonperforming— — — 5 — — — — — 5 
Total CRE$519 $287 $232 $349 $158 $914 $119 $5 $— $2,583 
Premium wine:
Risk rating:
Pass $309 $209 $90 $135 $43 $135 $163 $33 $— $1,117 
Criticized1 5 — 7 9 9 10 — — 41 
Nonperforming— — — — — — — — — — 
Total premium wine$310 $214 $90 $142 $52 $144 $173 $33 $— $1,158 
Other C&I
Term Loans by Origination Year
December 31, 2022 (Dollars in millions)20222021202020192018PriorRevolving LoansRevolving Loans Converted to Term LoansUnallocated (1)Total
Risk rating:
Pass$34 $141 $156 $64 $81 $284 $207 $10 $— $977 
Criticized2 — 1 4 1 22 9 1 — 40 
Nonperforming— — 1 — — 1 — — — 2 
Total other C&I$36 $141 $158 $68 $82 $307 $216 $11 $— $1,019 
Other:
Risk rating:
Pass $114 $189 $148 $29 $— $— $9 $2 $(75)$416 
Criticized— 7 2 8 — — — — — 17 
Nonperforming— — — — — — — — — — 
Total other$114 $196 $150 $37 $— $— $9 $2 $(75)$433 
PPP:
Risk rating:
Pass $— $12 $3 $— $— $— $— $— $— $15 
Criticized— 3 5 — — — — — — 8 
Nonperforming— — — — — — — — — — 
Total PPP$— $15 $8 $— $— $— $— $— $— $23 
Total loans$11,486 $7,876 $3,687 $1,951 $766 $2,452 $46,036 $71 $(75)$74,250 
(1)These amounts consist of fees and clearing items that have not yet been allocated at the loan level.
Term Loans by Origination Year
December 31, 2021 (Dollars in millions)20212020201920182017PriorRevolving LoansRevolving Loans Converted to Term LoansUnallocated (1)Total
Global fund banking:
Risk rating:
Pass $764 $115 $36 $6 $8 $4 $36,955 $— $— $37,888 
Criticized50 18 — — — 1 1 — — 70 
Nonperforming— — — — — — — — — — 
Total global fund banking$814 $133 $36 $6 $8 $5 $36,956 $— $— $37,958 
Investor dependent:
Early stage:
Risk rating:
Pass $754 $287 $122 $26 $6 $1 $171 $— $— $1,367 
Criticized64 87 30 5 — — 29 — — 215 
Nonperforming2 5 3 — — — 1 — — 11 
Total early stage$820 $379 $155 $31 $6 $1 $201 $— $— $1,593 
Growth stage:
Risk rating:
Pass $2,072 $910 $265 $78 $14 $1 $286 $5 $— $3,631 
Criticized159 85 27 6 3 — 34 — — 314 
Nonperforming2 — 1 2 — — 1 — — 6 
Total growth stage$2,233 $995 $293 $86 $17 $1 $321 $5 $— $3,951 
Total investor dependent$3,053 $1,374 $448 $117 $23 $2 $522 $5 $— $5,544 
Cash flow dependent – SLBO:
Risk rating:
Pass $875 $384 $252 $72 $76 $2 $35 $— $— $1,696 
Criticized— — 20 25 — 13 10 — — 68 
Nonperforming— — 12 10 7 — 5 — — 34 
Total cash flow dependent — SLBO$875 $384 $284 $107 $83 $15 $50 $— $— $1,798 
Innovation C&I:
Risk rating:
Pass $2,230 $1,058 $288 $123 $58 $— $2,411 $— $— $6,168 
Term Loans by Origination Year
December 31, 2021 (Dollars in millions)20212020201920182017PriorRevolving LoansRevolving Loans Converted to Term LoansUnallocated (1)Total
Criticized64 130 62 12 — — 236 — — 504 
Nonperforming— — — — — — 1 — — 1 
Total Innovation C&I$2,294 $1,188 $350 $135 $58 $— $2,648 $— $— $6,673 
Private bank:
Risk rating:
Pass $2,952 $2,015 $1,122 $520 $432 $952 $705 $8 $— $8,706 
Criticized— — 2 — 2 9 3 — — 16 
Nonperforming— — 2 9 — 8 2 — — 21 
Total private bank$2,952 $2,015 $1,126 $529 $434 $969 $710 $8 $— $8,743 
CRE:
Risk rating:
Pass $326 $215 $344 $155 $236 $868 $110 $2 $— $2,256 
Criticized3 39 114 37 47 139 18 12 — 409 
Nonperforming— — 5 — — — — — — 5 
Total CRE$329 $254 $463 $192 $283 $1,007 $128 $14 $— $2,670 
Premium wine:
Risk rating:
Pass$217 $112 $156 $69 $71 $162 $125 $34 $— $946 
Criticized1 7 11 9 — — 11 — — 39 
Nonperforming— — — — — — — — — — 
Total Premium wine$218 $119 $167 $78 $71 $162 $136 $34 $— $985 
Other C&I:
Risk rating:
Pass$181 $175 $82 $86 $28 $301 $350 $11 $— $1,214 
Criticized5 6 6 7 2 — 8 5 — 39 
Nonperforming— — — 2 — 1 1 — — 4 
Total other C&I$186 $181 $88 $95 $30 $302 $359 $16 $— $1,257 
Other:
Risk rating:
Pass$61 $144 $82 $20 $14 $— $7 $— $(21)$307 
Criticized— 7 1 — 2 — — — — 10 
Nonperforming— — — — — — — — — — 
Total other$61 $151 $83 $20 $16 $— $7 $— $(21)$317 
PPP:
Risk rating:
Pass$226 $72 $— $— $— $— $— $— $— $298 
Criticized22 9 — — — — — — — 31 
Nonperforming2 — — — — — — — — 2 
Total PPP$250 $81 $— $— $— $— $— $— $— $331 
Total loans$11,032 $5,880 $3,045 $1,279 $1,006 $2,462 $41,516 $77 $(21)$66,276 
(1)These amounts consist of fees and clearing items that have not yet been allocated at the loan level.
Activity Relating to Our Allowance for Credit Losses for Loans
The following tables summarize the activity relating to our ACL for loans for 2022, 2021 and 2020 broken out by portfolio segment:
Year ended December 31, 2022 Beginning Balance December 31, 2021Charge-offsRecoveriesProvision (Reduction) for LoansForeign Currency Translation AdjustmentsEnding Balance December 31, 2022
(Dollars in millions)
Global fund banking$67 $— $7 $36 $— $110 
Investor dependent146 (79)20 184 2 $273 
Cash flow dependent and Innovation C&I118 (19)1 55 — $155 
Private bank33 — 2 15 — $50 
CRE36 — — (11)— $25 
Other C&I14 (4)1 2 — $13 
Premium wine and other8 (1)1 7 (5)$10 
Total ACL$422 $(103)$32 $288 $(3)$636 

Year ended December 31, 2021Beginning Balance December 31, 2020Initial Allowance on PCD LoansCharge-offsRecoveriesProvision (Reduction) for Loans (1)Ending Balance December 31, 2021
(Dollars in millions)
Global fund banking (2)$46 $— $(80)$— $101 $67 
Investor dependent213 — (46)18 (39)146 
Cash flow dependent and Innovation C&I125 — (8)6 (5)118 
Private bank53 1 (3)— (18)33 
CRE— 17 — — 19 36 
Other C&I— 4 — — 10 14 
Premium wine and other9 — (1)— — 8 
PPP2 — — — (2)— 
Total ACL$448 $22 $(138)$24 $66 $422 
(1)The provision for loans for the year ended December 31, 2021, includes a post-combination initial provision of $44 million related to non-PCD loans from the Boston Private acquisition.
(2)Global fund banking activity for the year ended December 31, 2021, includes the impact of an $80 million charge-off related to fraudulent activity on one loan as disclosed in previous filings.
Year ended December 31, 2020Beginning Balance at December 31, 2019Impact of Adopting ASC 326Charge-offsRecoveriesProvision (Reduction) for LoansForeign Currency Translation AdjustmentsEnding Balance at December 31, 2020
(Dollars in millions)
Global fund banking$107 $(70)$— $— $9 $— $46 
Investor dependent82 72 (89)25 125 (2)213 
Cash flow dependent and Innovation C&I81 (1)(11)3 53 — 125 
Private bank22 12 (2)— 21 — 53 
Premium wine and other13 12 (1)1 (21)5 9 
PPP— — — — 2 — 2 
Total ACL$305 $25 $(103)$29 $189 $3 $448 
Aging of Gross Loans, Broken out by Portfolio Segment and Class of Financing Receivable
The following table summarizes the aging of our loans broken out by class of financing receivables as of December 31, 2022, and December 31, 2021:
(Dollars in millions)30 - 59
  Days Past
Due		60 - 89
  Days Past  Due		90 or More Days Past Due  Total Past  DueCurrent  Total  90 Days or More Past Due, Still
Accruing
Interest
December 31, 2022:
Global fund banking$20 $— $— $20 $41,249 $41,269 $— 
Investor dependent:
Early stage11 13 2 26 1,924 1,950 — 
Growth stage26 — 3 29 4,734 4,763 — 
Total investor dependent37 13 5 55 6,658 6,713 — 
Cash flow dependent - SLBO— — — — 1,966 1,966 — 
Innovation C&I2 1 — 3 8,606 8,609 — 
Private bank22 2 17 41 10,436 10,477 1 
CRE10 1 — 11 2,572 2,583 — 
Premium wine3 — — 3 1,155 1,158 — 
Other C&I2 — 2 4 1,015 1,019 — 
Other— — — — 433 433 — 
PPP— — 5 5 18 23 4 
Total loans (1)$96 $17 $29 $142 $74,108 $74,250 $5 
December 31, 2021:
Global fund banking$— $— $— $— $37,958 $37,958 $— 
Investor dependent:
Early stage6 5 — 11 1,582 1,593 — 
Growth stage16 — — 16 3,935 3,951 — 
Total investor dependent22 5 — 27 5,517 5,544 — 
Cash flow dependent - SLBO— — — — 1,798 1,798 — 
Innovation C&I7 — 7 14 6,659 6,673 7 
Private bank28 1 12 41 8,702 8,743 — 
CRE1 — — 1 2,669 2,670 — 
Premium wine3 — — 3 982 985 — 
Other C&I1 2 1 4 1,253 1,257 — 
Other— — — — 317 317 — 
PPP1 — — 1 330 331 — 
Total loans$63 $8 $20 $91 $66,185 $66,276 $7 
Nonaccrual Loans with No Allowance for Credit Loss
The following table summarizes our nonaccrual loans with no ACL at December 31, 2022, and December 31, 2021:
December 31, 2022December 31, 2021
(Dollars in millions)Nonaccrual LoansNonaccrual Loans with no ACLNonaccrual Loans Nonaccrual Loans with no ACL
Investor dependent:
Early stage$17 $— $11 $— 
Growth stage55 3 6 — 
Total investor dependent72 3 17 — 
Cash flow dependent - SLBO— — 34 — 
Innovation C&I28 — 1 1 
Private bank25 7 21 8 
CRE5 — 5 — 
Other C&I2 1 4 — 
PPP— — 2 — 
Total nonaccrual loans$132 $11 $84 $9 
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 class of financing receivables, as of December 31, 2022 and December 31, 2021:
(Dollars in millions)December 31, 2022December 31, 2021
Loans modified in TDRs:
Investor dependent:
Early stage$1 $12 
Growth stage303 
Total investor dependent31 15 
Cash flow dependent - SLBO— 34 
Innovation C&I1 — 
Private bank24 12 
CRE33 33 
Other C&I12 
Total loans modified in TDRs$90 $96 
Recorded Investment in Loans Modified in TDRs
The following table summarizes the recorded investment in loans modified in TDRs, broken out by class of financing receivables, for modifications made during 2022, 2021 and 2020:
 Year ended December 31,
(Dollars in millions)202220212020
Loans modified in TDRs during the period:
Investor dependent:
Early stage$— $12 $6 
Growth stage30 — 26 
Total investor dependent30 12 32 
Cash flow dependent - SLBO— 12 22 
Innovation C&I1 — 1 
Private bank17 4 — 
CRE5 29 — 
Premium wine— — 1 
Total loans modified in TDRs during the period (1)$53 $57 $56 
(1)There were $110 million, $6 million and $31 million of partial charge-offs during 2022, 2021 and 2020, respectively.
Allowance for Unfunded Commitments
The following table summarizes the activity relating to our ACL for unfunded credit commitments for 2022, 2021 and 2020:
 December 31,
(Dollars in millions)202220212020
ACL: unfunded credit commitments, beginning balance$171 $121 $68 
Impact of adopting ASC 326— — 23 
Provision for credit losses133 50 30 
Foreign currency translation adjustments(1)— — 
ACL: unfunded credit commitments, ending balance (1)$303 $171 $121 
(1)The “ACL: unfunded credit commitments” is included as a component of “other liabilities” on our consolidated balance sheets. See Note 21—“Off-Balance Sheet Arrangements, Guarantees and Other Commitments” for additional disclosures related to our commitments to extend credit.