Bank Loans (Tables)

6 Months Ended

Jun. 30, 2022

Receivables [Abstract]

Schedule Of Balance And Associated Percentage Of Each Major Loan Category In Bank Loan Portfolio

The following table presents the balance and associated percentage of each major loan category in our bank loan portfolio at June 30, 2022 and December 31, 2021 (in thousands, except percentages):

	June 30, 2022						December 31, 2021
	Balance			Percent			Balance			Percent
Commercial and industrial	$	8,347,410			43.6	%	$	7,345,753			43.9	%
Residential real estate		6,607,825			34.5			5,482,026			32.7
Securities-based loans		2,993,552			15.6			2,880,158			17.2
Commercial real estate		629,459			3.3			409,847			2.4
Construction and land		432,039			2.3			511,084			3.1
Home equity lines of credit		103,096			0.5			82,508			0.5
Other		45,239			0.2			32,111			0.2
Gross bank loans		19,158,620			100.0	%		16,743,487			100.0	%
Unamortized loan discount, net		—						(150	)
Loans in process		(53,332	)					(10,134	)
Unamortized loan fees, net		(14,620	)					(6,012	)
Allowance for loan losses		(107,482	)					(99,344	)
Loans held for investment, net	$	18,983,186					$	16,627,847

Activity In The Allowance For Loan Losses By Portfolio Segment

The following tables detail activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2022 (in thousands).

	Three Months Ended June 30, 2022
	Beginning Balance		Provision			Charge-offs			Recoveries		Ending Balance
Commercial and industrial	$	54,580	$	12,770		$	—		$	2	$	67,352
Residential real estate		32,927		(10,312	)		—			—		22,615
Commercial real estate		3,680		2,803			—			—		6,483
Construction and land		8,121		(2,267	)		—			—		5,854
Securities-based loans		3,976		36			(36	)		—		3,976
Home equity lines of credit		683		239			—			—		922
Other		231		49			—			—		280
	$	104,198	$	3,318		$	(36	)	$	2	$	107,482

	Six Months Ended June 30, 2022
	Beginning Balance		Provision			Charge-offs			Recoveries		Ending Balance
Commercial and industrial	$	53,529	$	13,821		$	—		$	2	$	67,352
Residential real estate		28,560		(5,945	)		—			—		22,615
Commercial real estate		3,934		2,549			—			—		6,483
Construction and land		8,536		(2,682	)		—			—		5,854
Securities-based loans		4,006		6			(36	)		—		3,976
Home equity lines of credit		511		411			—			—		922
Other		268		12			—			—		280
	$	99,344	$	8,172		$	(36	)	$	2	$	107,482

The following tables detail activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2021 (in thousands).

	Three Months Ended June 30, 2021
	Beginning Balance		Provision			Charge-offs			Recoveries		Ending Balance
Commercial and industrial	$	56,316	$	(5,105	)	$	(4,268	)	$	—	$	46,943
Residential real estate		16,665		4,602			—			—		21,267
Construction and land		18,873		(2,920	)		—			—		15,953
Commercial real estate		13,060		(1,157	)		—			—		11,903
Securities-based loans		2,169		350			—			—		2,519
Home equity lines of credit		341		85			—			—		426
Other		244		(59	)		—			—		185
	$	107,668	$	(4,204	)	$	(4,268	)	$	—	$	99,196

Aging Of The Recorded Investment In Past Due Loans

The following tables present the aging of the recorded investment in past due loans at June 30, 2022 and December 31, 2021 by portfolio segment (in thousands):

	As of June 30, 2022
	30 – 89 Days Past Due		90 or More Days Past Due		Total Past Due		Current Balance		Total
Commercial and industrial	$	—	$	15,368	$	15,368	$	8,332,042	$	8,347,410
Residential real estate		1,447		1,790		3,237		6,604,588		6,607,825
Securities-based loans		—		—		—		2,993,552		2,993,552
Commercial real estate		—		—		—		629,459		629,459
Construction and land		—		—		—		432,039		432,039
Home equity lines of credit		699		—		699		102,397		103,096
Other		13		14		27		45,212		45,239
Total	$	2,159	$	17,172	$	19,331	$	19,139,289	$	19,158,620

	As of June 30, 2022*
	Nonaccrual		Restructured		Nonperforming loans with no allowance		Total
Commercial and industrial	$	27,352	$	—	$	—	$	27,352
Residential real estate		1,790		153		—		1,943
Other		14		—		—		14
Total	$	29,156	$	153	$	—	$	29,309

* There were no loans past due 90 days and still accruing interest at June 30, 2022.

	As of December 31, 2021
	30 – 89 Days Past Due		90 or More Days Past Due		Total Past Due		Current Balance		Total
Commercial and industrial	$	9,290	$	6,571	$	15,861	$	7,329,892	$	7,345,753
Residential real estate		6,194		1,332		7,526		5,474,500		5,482,026
Securities-based loans		—		—		—		2,880,158		2,880,158
Construction and land		—		—		—		511,084		511,084
Commercial real estate		—		1		1		409,846		409,847
Home equity lines of credit		—		—		—		82,508		82,508
Other		44		—		44		32,067		32,111
Total	$	15,528	$	7,904	$	23,432	$	16,720,055	$	16,743,487

	As of December 31, 2021*
	Nonaccrual		Restructured		Nonperforming loans with no allowance		Total
Commercial and industrial	$	15,861	$	—	$	—	$	15,861
Residential real estate		1,332		154		—		1,486
Commercial real estate		—		—		1		1
Total	$	17,193	$	154	$	1	$	17,348

* There were no loans past due 90 days and still accruing interest at December 31, 2021.

Risk Category Of Loan Portfolio

Based on the most recent analysis performed, the risk category of our loan portfolio was as follows (in thousands):

	As of June 30, 2022
	Pass		Special Mention		Substandard		Doubtful		Total
Commercial and industrial	$	8,200,462	$	30,000	$	89,596	$	27,352	$	8,347,410
Residential real estate		6,606,035		—		74		1,716		6,607,825
Securities-based loans		2,993,549		—		—		3		2,993,552
Commercial real estate		609,459		—		20,000		—		629,459
Construction and land		432,039		—		—		—		432,039
Home equity lines of credit		103,096		—		—		—		103,096
Other		45,225		—		—		14		45,239
Total	$	18,989,865	$	30,000	$	109,670	$	29,085	$	19,158,620

	As of December 31, 2021
	Pass		Special Mention		Substandard		Doubtful		Total
Commercial and industrial	$	7,193,435	$	38,000	$	107,747	$	6,571	$	7,345,753
Residential real estate		5,480,693		—		84		1,249		5,482,026
Securities-based loans		2,880,158		—		—		—		2,880,158
Construction and land		476,844		14,240		20,000		—		511,084
Commercial real estate		407,298		2,548		—		1		409,847
Home equity lines of credit		82,479		29		—		—		82,508
Other		32,111		—		—		—		32,111
Total	$	16,553,018	$	54,817	$	127,831	$	7,821	$	16,743,487

Schedule of Term Loans Amortized Cost Basis by Origination Year and Revolving Cost Amortized Cost Basis

	Term Loans Amortized Cost Basis by Origination Year – June 30, 2022
	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial and industrial:
Pass	$	966,755	$	1,645,898	$	359,765	$	291,693	$	422,874	$	538,748	$	3,974,729	$	8,200,462
Special Mention		—		—		—		30,000		—		—		—		30,000
Substandard		—		—		—		28,224		45,355		11,828		4,189		89,596
Doubtful		—		11,984		468		—		8,775		6,125		—		27,352
	$	966,755	$	1,657,882	$	360,233	$	349,917	$	477,004	$	556,701	$	3,978,918	$	8,347,410
Residential real estate:
Pass	$	1,764,281	$	2,573,959	$	1,050,178	$	470,393	$	194,258	$	552,966	$	—	$	6,606,035
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		74		—		74
Doubtful		—		—		—		—		—		1,716		—		1,716
	$	1,764,281	$	2,573,959	$	1,050,178	$	470,393	$	194,258	$	554,756	$	—	$	6,607,825
Securities-based loans:
Pass	$	1,049	$	48,119	$	33,218	$	89,378	$	—	$	10,312	$	2,811,473	$	2,993,549
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		3		3
	$	1,049	$	48,119	$	33,218	$	89,378	$	—	$	10,312	$	2,811,476	$	2,993,552
Commercial real estate:
Pass	$	162,591	$	125,644	$	72,644	$	141,162	$	58,384	$	49,034	$	—	$	609,459
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		20,000		—		—		20,000
Doubtful		—		—		—		—		—		—		—		—
	$	162,591	$	125,644	$	72,644	$	141,162	$	78,384	$	49,034	$	—	$	629,459
Construction and land:
Pass	$	26,193	$	56,293	$	183,362	$	104,565	$	45,116	$	16,510	$	—	$	432,039
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
	$	26,193	$	56,293	$	183,362	$	104,565	$	45,116	$	16,510	$	—	$	432,039
Home equity lines of credit:
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	103,096	$	103,096
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
	$	—	$	—	$	—	$	—	$	—	$	—	$	103,096	$	103,096
Other:
Pass	$	7,263	$	782	$	10,000	$	—	$	1,581	$	24,105	$	1,494	$	45,225
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		14		14
	$	7,263	$	782	$	10,000	$	—	$	1,581	$	24,105	$	1,508	$	45,239